Permitted assets, investment limits, borrowing

(1) The AIF capital management company may invest, for an Other Investment Fund, only in 1. assets under sections 193 to 198, without being subject to the acquisition restrictions under section 197(1), 2. units or shares in domestic investment funds under sections 196, 218, and 220, and in corresponding EU investment funds or foreign AIF, 3. precious metals, 4. loans and unsecuritised loan receivables, 5. crypto-assets for investment purposes, where their market value can be determined.
(2) Where the AIF capital management company is permitted, under the investment conditions, to acquire, for the account of the Other Investment Fund, units or shares in other Other Investment Funds and in corresponding EU AIF or foreign AIF, section 225(3) and (4), second and third sentence, section 228(1), and section 229(2), apply correspondingly. Where the AIF capital management company is permitted, under the investment conditions, to acquire, for the account of the Other Investment Fund, units or shares in domestic investment funds under section 218, and in corresponding EU AIF or foreign AIF, section 219(2) and (3) applies correspondingly.
(3) The AIF capital management company may invest in units or shares in other Other Investment Funds, and in corresponding EU AIF or foreign AIF, only up to 30 percent of the value of the Other Investment Fund.
(4) The AIF capital management company may invest in assets within the meaning of section 198 only up to 20 percent of the value of the Other Investment Fund.
(5) The AIF capital management company must ensure that the proportion of precious metals, derivatives, and unsecuritised loan receivables held for the account of the Other Investment Fund, including those acquirable as other investment instruments within the meaning of section 198, together with the loans granted for the Other Investment Fund, does not exceed 30 percent of the value of the Other Investment Fund. Derivatives within the meaning of section 197(1) are not counted towards this limit. The AIF capital management company must ensure that the proportion of crypto-assets held for the account of the Other Investment Fund does not exceed ten percent of the value of the Other Investment Fund.
(6) The AIF capital management company may raise short-term loans for the joint account of investors only up to an amount of 20 percent of the value of the Other Investment Fund, and only where the terms of the borrowing are in line with the market and this is provided for in the investment conditions.
(7) By way of derogation from section 200, the AIF capital management company may transfer securities for a fixed period. Where a period is fixed for the restitution of a securities loan, restitution must be due no later than 30 days after the transfer of the securities. The market value of the securities to be transferred for a fixed period, together with the market value of the securities already transferred for the account of the Other Investment Fund as a securities loan for a fixed period, may not exceed 15 percent of the value of the Other Investment Fund. By way of derogation from section 203, repurchase transactions need not be terminable at any time.
(8) The limits determined in subsections (2) to (6) may be exceeded, having regard to the principle of risk diversification, during the first six months following the establishment of an Other Investment Fund, and, by the receiving Other Investment Fund, following the completion of a merger.