# Costs charged to the investor
| Maximum issue premium | 5 % | 5 % | 5 % |
| --- | --- | --- | --- |
| Maximum redemption dis- count | none | none | none |
| Maximum conversion fee when switching from one unit class to another unit class | 0.5 % | 0.5 % | 0.5 % |

Costs imposed upon the sub-find assets
21 22
| Maximum management fee 23 | 0.25% p.a. plus maximum CHF 36,000.00 p.a. |
| --- | --- |
| Maximum fee for asset management and distribu- tion | 1.54% | 1.44% | 1.10% |
| Maximum performance fee | 10% | 10% | 10% |
| Hurdle rate | 5% | 5% | 5% |
| High watermark | Yes | Yes | Yes |
| Maximum service fee | CHF 2,500.00 p.a. |  |

21 Plus taxes and other costs: Transaction costs as well as expenses that the Management Company and the Custodian incur in the exercise of their functions. Details are shown in the Prospectus under Figs. 11 (Tax regulations) and 12.2 (Costs and fees borne by the sub-fund).
22 In the event of the dissolution of the sub-fund, the Management Company may charge a liquidation fee amounting to no more than CHF 10,000.00, payable to the Management Company.
23 The commission or fee effectively charged is shown in the interim report and annual report.
|  | Sardona Value Fund |
| --- | --- |
| Unit classes 24 | A-USD | B-USD | Q-USD |
| Securities number | 54799692 | 54799693 | 54799694 |
| ISIN | LI0547996921 | LI0547996939 | LI0547996947 |
| Suitable as a UCITS target fund | Yes |
| Duration | Indefinite | Indefinite | Indefinite |
| Listing | No | No | No |
| Unit of account of the sub- fund | US dollar (USD) |
| Reference currency of the unit classes | US dollar (USD) | US dollar (USD) | US dollar (USD) |
| Minimum investment | 1 unit | 500 units | 2,500 units |
| Initial issue price | USD 100 | USD 100 | USD 100 |
| Initial subscription date | 24.06.2020 | not yet specified | 24.06.2020 |
| Initial valuation date | 01.07.2020 (03.07.2020) | not yet specified | 01.07.2020 (03.07.2020) |
| Valuation date 25 26  (T) | Thursday |
| Valuation interval | weekly and at the end of the month |
| Acceptance deadline for unit transactions | Wednesday by 12 noon (MET) at the latest |
| Issue/redemption date | Thursday |
| Valuation date for issue and redemption date (T+2) | Two bank working days following calculation of the net asset value/NAV |
| Denomination | Fractions possible |
| Certification | Book-entry / no issue of certificates |
| End of financial year | in each case as at 31 De- cember | in each case as at 31 De- cember | in each case as at 31 De- cember |
| End of the first financial year | 31.12.2020 | not yet specified | 31.12.2020 |
| Appropriation of profits | Reinvested | Reinvested | Reinvested |

24 The specific criteria that must be fulfilled by the investor when purchasing units in a specific unit class are set out in Fig. 9 (participa- tion in the UCITS).
25 If the valuation date falls on a bank holiday in Liechtenstein, the valuation date shall be moved to the next following bank working day in Liechtenstein.
26 31 December is relevant for the annual report of the investment fund.
Costs charged to the investor
| Maximum issue premium | 5 % | 5 % | 5 % |
| --- | --- | --- | --- |
| Maximum redemption dis- count | 5% | 5% | 5% |
| Maximum conversion fee when switching from one unit class to another unit class | 0.5 % | 0.5 % | 0.5 % |

Costs imposed upon the sub-find assets
27 28
| Maximum management fee 29 | 0.25% p.a. plus maximum CHF 36,000.00 p.a. |
| --- | --- |
| Maximum fee for asset management and distribu- tion | 1.54% | 1.44% | 1.10% |
| Maximum performance fee | 10% | 10% | 10% |
| Hurdle rate | 5% | 5% | 5% |
| High watermark | Yes | Yes | Yes |
| Maximum service fee | CHF 2,500.00 p.a. |  |

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Translation (ENDE, 2020-07-01):
# Kosten zulasten der Anleger
| Max. Ausgabeaufschlag | 5 % | 5 % | 5 % |
| --- | --- | --- | --- |
| Rücknahmeabschlag | keine | keine | keine |
| Max. Umtauschgebühr beim Wechsel von einer Anteils- klasse in eine andere An- teilsklasse | 0,5 % | 0,5 % | 0,5 % |

Kosten zulasten des Teilfondsvermögens
10 11
| Max. Verwaltungsgebühr  15 | 0.25% p.a. zzgl. max. CHF 30'000.- p.a. |
| --- | --- |
| Max. Gebühr für Vermö- gensverwaltung und Ver- trieb 15 | 1.35% | 1.35% | 1.35% |
| Geschätzte indirekte Kos- ten auf Stufe der indirek- ten Anlagen 15 | 1.15% |
| Max. Performance-Fee 15 | Keine | Keine | Keine |
| Hurdle Rate | Keine | Keine | Keine |
| High Watermark | Keine | Keine | Keine |
| Max. Service Fee 15 | CHF 2'500.-- p.a. |  |

10 Zuzüglich Steuern und sonstige Kosten: Transaktionskosten sowie Auslagen, die der Verwaltungsgesellschaft und der Verwahrstelle in Ausübung ihrer Funktionen entstanden sind. Die Details finden sich im Prospekt in den Ziffern 11 (Steuervorschriften) und 12.2 (Kosten und Gebühren zulasten des Teilfonds).
11 Im Falle der Auflösung des Teilfonds kann die Verwaltungsgesellschaft eine Liquidationsgebühr in Höhe von max. CHF 10‘000 zu ihren Gunsten erheben.
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