Art. 114

(Art. 92 and 95 para. 1 CISA)

1. Investment funds or subfunds may be merged by the fund management company if:
   1. provision therefore is made in the relevant fund contracts;
   2. they are managed by the same fund management company;
   3. ¹ the relevant fund contracts are generally identical in their requirements on the following:
   1. investment policy, investment techniques, risk diversification as well as the risks associated with the investment policy, 2. appropriation of net income and capital gains from the disposal of assets and rights, 3. nature, amount and calculation of all remuneration, the issue and redemption fees as well as the incidental costs for the purchase and sale of investments, such as brokerage fees, other fees, levies, which may be charged to the fund assets or to investors, 4. term of the contract and the conditions for termination; d. the assets of the funds concerned are valued, the exchange ratio is calculated, and the assets and liabilities are acquired on the same day; e. no costs arise as a result for either the investment fund or subfunds, or the investors.
2. .²
3. FINMA may make the merging of investment funds and the transfer of assets of a SICAV dependent on additional conditions, especially in the case of real estate funds.