Share classes for institutional clients offer interesting opportunities and conditions

Whereas shares in Class B are available to all clients, shares in Class I1 are reserved for institutional clients under certain conditions. This class of shares differs from Class B on account of its higher minimum investment sum and lower commission rates.

Institutional share classes are reserved for the following client groups:

• Domestic and foreign banks
• Securities dealers
• Occupational pension schemes (pension funds, investment foundations, foundations for vested pension benefits, bank foundations, etc.)
• Public-sector old age and occupational pension funds, including those of supranational organizations
• Fund management companies and management companies
• Undertakings for collective investments in corporate form
• Insurance companies
• Holding, investment and financing companies or operating companies, and public-sector entities of all kinds, that - either themselves or via affiliates - have their own finance department with qualified staff

Insofar as banks and securities dealers and other institutional investors with comparable functions hold units for the account of their clients, they shall not be deemed institutional investors in this regard.