Securities-index UCITS

(1) By way of derogation from the limits determined in section 206(1), the UCITS capital management company may invest up to 20 percent of the value of the domestic UCITS in securities of one issuer, where, under the investment conditions, the selection of the securities to be acquired for the domestic UCITS is directed at replicating, while maintaining an appropriate risk diversification, a particular securities index recognised by the Federal Institute (securities-index UCITS). The securities index must in particular be recognised where 1. its composition is sufficiently diversified, 2. it represents an adequate benchmark for the market to which it relates, 3. it is published in an appropriate manner. A securities index represents an adequate benchmark for the market where it satisfies the requirements of Article 12(3) of Directive 2007/16/EC. A securities index is published in an appropriate manner where the criteria of Article 12(4) of Directive 2007/16/EC are satisfied.
(2) The limit determined in section 206(1) may be raised to up to 35 percent of the value of the domestic UCITS for securities of one issuer, where the requirements under subsection (1) are satisfied. An investment up to the limit under the first sentence is permissible only for a single issuer.