Article 411-114 into force since 21 December 2013

The prospectus shall describe all expenses borne by holders or by the UCITS, including all taxes, with information:

1. About the fees paid by holders:

   1. The maximum percentage of the subscription or redemption fee that is not kept by the collective investment scheme;

   2. The percentage of the fee that is kept by the collective investment scheme and the conditions under which this percentage may be reduced.

2. About the fees paid by the UCITS, the maximum percentage of the operating and management fees. Information about this percentage shall be supplemented, as appropriate, with the following details:

   1. The rules on calculating transaction fees;

   2. The rules for calculating the proportion of income from temporary purchases and sales of securities that is not paid to the UCITS;

   3. The maximum fees and commissions that may be paid by French or foreign collective investments or third country investment funds to be kept by the UCITS;

   4. The rules for calculating variable management fees.

The prospectus format and the procedures for calculating the fees referred to in this article are specified in an AMF instruction.