Publication duties and ongoing information duties for EU AIF and foreign AIF

(1) The EU AIF management company or the foreign AIF management company publishes, for units or shares in EU AIF or foreign AIF, 1. the sales prospectus and all amendments to it, on the website of the AIF management company; 2. the investment conditions, the articles of association, or the partnership agreement, and all amendments to them, on the website of the AIF management company; 3. an annual report as at the close of every financial year, in the Federal Gazette no later than six months after the end of the financial year; the report must contain the following particulars: a) a statement of assets structured in a manner comparable to section 101(1), third sentence, points 1 and 2, excluding point 1, third and seventh sentences, and section 247(1), and naming the purchases and sales of assets within the meaning of section 261(1), point 1, made during the reporting period; b) an income and expense statement broken down by the type of expenses and income; c) a report on the activities of the AIF management company during the past financial year, including an overview of the development of the investment fund in a manner comparable to section 101(1), third sentence, point 4, third sentence; the overview must be accompanied by an express notice that past performance is not indicative of future performance; d) the number of units or shares in circulation as at the reporting date and the value of a unit or share; e) every material change to the information set out in the sales prospectus during the financial year to which the report relates; f) the total amount of remuneration paid during the past financial year, broken down into fixed and variable remuneration paid by the management company to its staff, together with the number of beneficiaries and, where applicable, the carried interest paid by the EU AIF or foreign AIF; g) the total amount of remuneration paid, broken down into remuneration for senior management and staff of the management company whose activities have a material impact on the risk profile of the AIF; h) a reproduction of the complete report of the auditor, including any qualifications; i) a total expense ratio corresponding to section 166(5), or section 270(1) in conjunction with section 166(5); where applicable, additionally an expense ratio for performance-related management fees and additional management fees under section 166(5), fourth sentence, or section 270(4); 4. a half-yearly report as at the middle of every financial year, where it is an open-ended AIF; the report must be published in the Federal Gazette no later than two months after the reporting date and must contain the particulars under point 3, letters a and d; in addition, the particulars under point 3, letters b and c, must be included where interim distributions have been made, or are envisaged, for the half-year; 5. the issue and redemption prices and the net asset value per unit or share on every issue or redemption of units or shares, but at least once a year, in a sufficiently widely circulated financial or daily newspaper published within the scope of this Act, or in the electronic information media designated in the sales prospectus; in doing so, the issue price calculated for the lowest investment amount must be stated; by way of derogation, publication takes place at least twice a month for investment funds comparable to UCITS under section 192. The content and form of the annual report are otherwise governed by Articles 103 to 107 of Delegated Regulation (EU) No 231/2013. The annual and half-yearly report of a feeder fund must, in addition, satisfy the requirements correspondingly to section 173(4); the annual report of a closed-ended feeder fund must satisfy the requirements correspondingly to section 272b(4). The reports under section 299(1), first sentence, points 3 and 4, must be made available to the investor on request. Where the AIF is obliged under Directive 2004/109/EC to publish annual financial reports, the particulars under the first sentence, point 3, must be made available to the investor on request, either separately or in the form of a supplement to the annual financial report. In the latter case, the annual financial report must be published no later than four months after the end of the financial year.
(2) Issue and redemption prices of units or shares in foreign AIF and EU AIF may be named in announcements only together; in doing so, the issue price calculated for the lowest investment amount must be stated.
(3) For closed-ended EU AIF and closed-ended foreign AIF comparable to domestic closed-ended retail AIF under sections 261 to 272, and admitted to trading on an organised market within the meaning of section 2(11) of the Securities Trading Act, or on an organised market satisfying the material requirements for regulated markets within the meaning of Directive 2014/65/EU, the documents to be published under subsection (1), first sentence, point 3, must contain a presentation of the development of the price of the units or shares of the investment fund and of the net asset value of the investment fund during the reporting period.
(4) Subsection (1), first sentence, point 5, and subsection (2) do not apply to closed-ended EU AIF and closed-ended foreign AIF comparable to domestic closed-ended AIF under sections 261 to 272. For AIF within the meaning of the first sentence that do not belong to the AIF named in subsection (3), the net asset value per unit or share must be disclosed to investors correspondingly to the provisions for domestic closed-ended retail AIF under section 272. For AIF within the meaning of subsection (3), the AIF management companies publish daily, in a sufficiently widely circulated financial or daily newspaper published within the scope of this Act, 1. the price of the units or shares of the AIF determined on the organised market within the meaning of section 2(11) of the Securities Trading Act, or on an organised market satisfying the material requirements for regulated markets within the meaning of Directive 2014/65/EU, and 2. the net asset value of the AIF correspondingly to the provisions for domestic closed-ended retail AIF under section 272. In other publications and promotional materials concerning the AIF within the meaning of the third sentence, the price of the units or shares and the net asset value of the investment fund may be named only together.
(5) The publication and notification duties under section 298(2) apply correspondingly to EU AIF management companies or foreign AIF management companies.