Commission Delegated Regulation (EU) 2018/480Show full title

Article 5 Specifications on the facilities available to retail investors

1. For the purposes of Article 26(1) of Regulation (EU) 2015/760, the manager of an ELTIF shall put in place facilities to perform the following tasks:

(a) process retail investors' subscription, payment, repurchase and redemption orders relating to the units or shares of the ELTIF, in accordance with the conditions set out in the ELTIF marketing documents;

(b) provide retail investors with information on how orders referred to in point (a) can be made and how repurchase and redemption proceeds are paid;

(c) facilitate the handling of information relating to the retail investors' exercise of their rights arising from their investment in the ELTIF in the Member State where the ELTIF is marketed;

(d) make available to retail investors, for inspection and for the obtaining of copies of:

(i)

the fund rules or instruments of incorporation of the ELTIF;

(ii)

the latest annual report of the ELTIF;

(e) provide investors with information relevant to the tasks they perform in a durable medium as defined in Article 2(1)(m) of Directive 2009/65/EC.

2. The manager of the ELTIF shall ensure that the facilities referred to in Article 26(1) of Regulation (EU) 2015/760 have the following technical infrastructure:

(a) they perform their tasks in the official language or official languages of the Member State where the ELTIF is marketed;

(b) they perform their tasks in person, by telephone or electronically.

3. The manager of an ELTIF shall ensure that the facilities referred to in Article 26(1) of Regulation (EU) 2015/760 are of the following types and have the following characteristics:

(a) are performed by one or more entities which are either the manager of the ELTIF or a third entity subject to regulation governing the tasks to be performed;

(b) where the facilities are performed by a third entity, the latter receives all the relevant information and documents from the manager of the ELTIF;

(c) where the facilities are performed by a third entity, the appointment of the entity is evidenced by a written contract. The written contract shall specify which of the tasks referred to in paragraph 1 are not performed by the manager of the ELTIF.