ANNEX I
Determination of the maximum percentage referred to in Article 18(2), first subparagraph, point (d), of Regulation (EU) 2015/760 as a function of the redemption frequency and the notice period of the ELTIF, including the extension of the notice period, if any (‘Notice Period’)
Option 1 – Baseline option
|
Notice Period / Redemption frequency |
No Notice Period |
2 weeks Notice Period |
1 month Notice Period |
3 months Notice Period |
6 months Notice Period |
9 months Notice Period |
12 months Notice Period |
|
12 months |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
|
6 months |
50,0 % |
52,2 % |
54,5 % |
66,7 % |
100,0 % |
100,0 % |
100,0 % |
|
3 months |
25,0 % |
26,1 % |
27,3 % |
33,3 % |
50,0 % |
100,0 % |
100,0 % |
|
2 months |
16,7 % |
17,4 % |
18,2 % |
22,2 % |
33,3 % |
66,7 % |
100,0 % |
|
1 month |
8,3 % |
8,7 % |
9,1 % |
11,1 % |
16,7 % |
33,3 % |
100,0 % |
|
Bi-weekly |
4,2 % |
4,3 % |
4,5 % |
5,6 % |
8,3 % |
16,7 % |
100,0 % |
|
Weekly |
1,9 % |
2,0 % |
2,1 % |
2,6 % |
3,8 % |
7,7 % |
100,0 % |
Option 2 – Aggregation on a one-month basis
|
Notice Period / Redemption frequency |
No Notice Period |
2 weeks Notice Period |
1 month Notice Period |
3 months Notice Period |
6 months Notice Period |
9 months Notice Period |
12 months Notice Period |
|
12 months |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
|
6 months |
50,0 % |
52,2 % |
54,5 % |
66,7 % |
100,0 % |
100,0 % |
100,0 % |
|
3 months |
25,0 % |
26,1 % |
27,3 % |
33,3 % |
50,0 % |
100,0 % |
100,0 % |
|
2 months |
16,7 % |
17,4 % |
18,2 % |
22,2 % |
33,3 % |
66,7 % |
100,0 % |
|
1 month or more frequent than 1 month |
On an aggregate basis, during the period of one month: 8,3 % |
On an aggregate basis, during the period of one month: 8,7 % |
On an aggregate basis, during the period of one month: 9,1 % |
On an aggregate basis, during the period of one month 11,1 % |
On an aggregate basis, during the period of one month 16,7 % |
On an aggregate basis, during the period of one month 33,3 % |
On an aggregate basis, during the period of one month 100,0 % |
Option 3 – Aggregation on a two-months basis
|
Notice Period / Redemption frequency |
No Notice Period |
2 weeks Notice Period |
1 month Notice Period |
3 months Notice Period |
6 months Notice Period |
9 months Notice Period |
12 months Notice Period |
|
12 months |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
100,0 % |
|
6 months |
50,0 % |
52,2 % |
54,5 % |
66,7 % |
100,0 % |
100,0 % |
100,0 % |
|
3 months |
25,0 % |
26,1 % |
27,3 % |
33,3 % |
50,0 % |
100,0 % |
100,0 % |
|
2 months or more frequent than 2 months |
On an aggregate basis, during the period of 2 months: 16,7 % |
On an aggregate basis, during the period of 2 months: 17,4 % |
On an aggregate basis, during the period of 2 months: 18,2 % |
On an aggregate basis, during the period of 2 months: 22,2 % |
On an aggregate basis, during the period of 2 months: 33,3 % |
On an aggregate basis, during the period of 2 months: 66,7 % |
On an aggregate basis, during the period of 2 months: 100,0 % |