(Art. 20 para. 1 let. a, 21 para. 3 and 63 CISA)
- Persons who manage or represent Swiss collective investment schemes or hold the assets of these schemes in safekeeping, or who manage or represent foreign collective investment schemes, or their agents, may calculate the fees payable to closely connected natural or legal persons that participate in the planning, construction, purchase or sale of a building for the account of the collective investment scheme; the fees shall be based exclusively on the normal prices prevailing in the sector.1
- The valuation expert shall check the fee invoice prior to settlement thereof and if necessary furnish the licensee and the audit company with a report.
- Where real estate investments of a collective investment scheme are transferred to another scheme of the same licensee or a related licensee, no compensation may be levied for buying and selling work undertaken.
- Payments by real estate companies to the members of their administration, to their management and to their personnel shall be included in the compensation to which the fund management company and the SICAV are entitled in accordance with the fund regulations.