Market Specifications – Investment Funds – Cyprus
In Cyprus, fund shares can be categorised as management shares or participating shares, where the fund management companies/fund managers generally hold the management shares and investors generally hold participating shares. Participating shares are typically non-voting, however, voting rights may be provided in certain proposed corporate actions as provided for in the respective fund documentation.
The information contained in the Market Specifications is based on the market practice that CBL was made aware of from different sources. This is not intended to be a comprehensive guide of all local market practices, and CBL disclaims any responsibility as to the accuracy and completeness of the information. In the case of discrepancy between the information provided by CBL and the local laws and regulations, the latter shall prevail. The Market Specifications do not constitute legal advice and customers should seek advice from independent professional counsel.
Customers are responsible for ensuring compliance with the Market Specifications (where applicable), and agree to indemnify and hold harmless, CBL, for any loss, expense, liability, damage or claims, whether direct or indirect, against or incurred by CBL arising out of or resulting from such non-compliance.