Collective investment fund

(1) The assets belonging to the collective investment fund may, in accordance with the investment conditions, be owned by the capital management company or co-owned by the investors. The collective investment fund must be kept separate from the capital management company's own assets.
(2) The collective investment fund also comprises everything that the capital management company acquires on the basis of a right belonging to the collective investment fund, or through a legal transaction relating to the collective investment fund, or that the person entitled to the collective investment fund acquires as a substitute for a right belonging to the collective investment fund.
(3) The capital management company may establish several collective investment funds. These must be distinguishable by their designation and must be kept separate.
(4) The Safe Custody Act does not apply to the legal relationship between the investors and the capital management company.
(5) Assets managed by the capital management company under section 20(2), point 1, or section 20(3), point 1 or 2, do not constitute collective investment funds.