(a)

Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (recast) (Text with EEA relevance) · European Union

the management company has an initial capital of at least EUR 125000, taking into account the following: when the value of the portfolios of the management company exceeds EUR 250000000, the management company must be required to provide an additional amount of own funds which is equal to 0,02 % of the amount by which the value of the portfolios of the management company exceeds EUR 250000000 but the required total of the initial capital and the additional amount must not, however, exceed EUR 10000000; for the purposes of this paragraph, the following portfolios must be deemed to be the portfolios of the management company: common funds managed by the management company including portfolios for which it has delegated the management function but excluding portfolios that it is managing under delegation, investment companies for which the management company is the designated management company, other collective investment undertakings managed by the management company including portfolios for which it has delegated the management function but excluding portfolios that it is managing under delegation; irrespective of the amount of those requirements, the own funds of the management company must at no time be less than the amount prescribed in Article 21 of Directive 2006/49/EC;

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Source: EUR-Lex (Cellar) · retrieved 2026-10-10 · Text as adopted (Official Journal); later amendments are not incorporated in this text.