Sales prospectus

(1) For funds of hedge funds, the sales prospectus must, in addition to the particulars under section 165, contain the following particulars:
1. particulars of the principles according to which the target funds are selected;
2. particulars of the extent to which units in foreign unsupervised target funds may be acquired, with a notice that these target funds are AIF whose investment policy is comparable to the requirements for hedge funds, but that may not be subject to State supervision comparable to this Act;
3. particulars of the requirements imposed on the management of the target funds;
4. particulars of the extent to which the selected target funds may, as part of their investment strategies, raise loans and carry out short sales, together with a notice of the risks that may be associated with this;
5. particulars of the fee structure of the target funds, together with a notice of the special features of the amount of the fees, and particulars of the methods by which the total costs to be borne by the investor are calculated;
6. particulars of the details and conditions of the redemption and payment of units or shares, where applicable together with an express notice, prominently displayed typographically, that, by way of derogation from section 98(1) or section 116(2), first sentence, the investor cannot demand the redemption of units or shares and payment of the share of assets attributable to the units or shares from the AIF capital management company at least twice a month.
(2) In addition, the sales prospectus of a fund of hedge funds must contain the following warning, prominently displayed typographically in a conspicuous place: "The Federal Minister of Finance warns: this investment fund invests in hedge funds that are not subject to statutory leverage or risk restrictions."