Luxembourg Regulated Investment Vehicles - Alfi

Reporting requirements12Prospectus directiveas transposed into theLuxembourg lawPart I Fund (UCITS)Closed-endedPart I funds may not be closed-ended.Part II Fund (UCI)Closed-endedA prospectus prepared in compliancewith the requirements of the ProspectusDirective must be prepared when an “offerto the public” within the meaning of theProspectus Directive is made except ifthe offer falls under any exemption ofthe Prospectus Directive. In that case, aprospectus must be prepared in accordancewith the Fund law.Open-endedPart I funds may make a public offer onthe basis of their prospectus prepared inaccordance with the requirements of theFund law.This prospectus must be updated on anongoing basis.Open-endedPart II funds may make a public offer onthe basis of their prospectus prepared inaccordance with the requirements of theFund law.This prospectus must be updated on anongoing basis.Simplified prospectus Required Not requiredNAV computationfrequencyNAV must be computed on each day thereare subscriptions or redemptions with aminimum of twice a month.NAV must be computed on each day thereare subscriptions or redemptions with aminimum of once a month.