TRITON ASSET MANAGEMENT AEDAK Regulations of Mutual … · TRITON ASSET MANAGEMENT AEDAK...

TRITON ASSET MANAGEMENT AEDAKRegulations of Mutual Funds

MUTUAL FUNDS DO NOT HAVE A GUARANTEED RETURN AND PREVIOUS PERFORMANCE DOES NOT GUARANTEE FUTURE PERFORMANCE

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TRITONGrowthGreekEquityFund 2

TRITONAmericanEquityInternationalFund 11

TRITONPan-EuropeanInternationalEquityFund 20

TRITONBalancedFund 29

TRITONIncomeEuroBondDevelopedCountriesFund 38

TRITONMoneyMarketEuroFund 47

Contents

Article 1. Management Company and Custodian

1. TheManagementCompanyistheincorporatedcompanyunderthename“TRITON ASSET MANAGEMENT SA MUTUAL FUNDS COMPANY” withregisteredofficeinAthens,fromhereon“theManagementCompany”,incorporatedandoperatingunderauthorization76/26.3.1991oftheHellenicCapitalMarketCommission.

2. TheCustodianfunctionsoftheMutualFundhavebeenentrusted,underprovisionsoftheArticles36,36a,37and38ofLaw4099/2012asinforce,toHSBC FRANCElegallyoperatinginGreece.

3. AppointmentoftheCustodianisdemonstratedbymeansofawrittenagreementwhichregulatestheflowofinformationconsiderednecessarysothattheCustodiancanperformitsmutualfund-relatedduties.

4. CustodydutiesvarydependingonthetypeofMutualFundassetsandwhethertheyarecustodialassetsorotherassetswhichtheCustodianverifiesareownedbytheMutualFundortheAssetManagerwhoisactingonbehalfoftheMutualFund.

5. AssetsheldbytheCustodianarenotreusedbytheCustodianoranyotherthirdpartytowhomcustodydutieshavebeenassignedonitsbehalf.AssetsheldbytheCustodiancanonlybereusedwhen(a)thatisdoneonbehalfoftheMutualFund,(b)theCustodianiscarryingoutinstructionsfromtheAssetManageronbehalfoftheMutualFund,(c)reuseisbeneficialfortheMutualFundandintheinterestofshareholdersand(d)thetransactionisbackedbyliquidatinghighqualitycollateralwhichtheMutualFundhasreceivedinthecontextofasecuritiestransferagreement.

Article 2. Mutual Fund

1. The Management Company established a mutual fund under the name “HELLENOBRETANNIKI –GROWTH FUND”, which after decision no 119/25.8.1992 of CapitalMarket Commission was renamed“MIDLANDHELLENOBRETANNIKI GROWTH FUND”. After decision no 37/21.9.1997 of CapitalMarketCommissionwasrenamed“MIDLANDHELLENOBRETANNIKIGROWTHDOMESTICEQUITYFUND”afterdecisionno.97/21.9.1998ofCapitalMarketCommissionwasrenamed“MIDLANDGROWTHDOMESTICEQUITYFUND”then,afterdecisionno.174/3.5.2000ofCapitalMarketCommissionwasrenamed“HSBCGROWTHGREEKEQUITYFUND”.Finally,underdecisionno170/14.5.2013ofCapitalMarketCommissionitwasrenamed«TRITON GROWTH GREEK EQUITY FUND»,andwillbereferredasthe«Fund»,withaninitialcapitalofthreehundredmillion(300,000,000)drachmas(880.410,86euros),governedbyprovisionsoftheLaw4099/2012astheyapplyeachtimeandbypresentRegulation.

2. TheFundisagroupofassetsconsistingoftransferablesecurities,moneymarketinstrumentsandcash,andwhichbelongundividedlytomorethanoneshareholder.

3. TheFundexistsforanunlimitedperiod.

4. The Fund is not a legal entity and its shareholders are represented in and out of court, as to the legalrelationshipsfromitsmanagementandtheirrightsovertheassets,bytheManagementCompany.

5. Fund’sshareholdersarenotliableforactsoromissionsoftheManagementCompanyortheCustodianintheperformanceoftheirduties.

6. TheFund’sassetsaredividedatanytimeintoregisteredsharesorfractionsofsharesofequalvalue.Theincorporatedcompanyhasthejurisdictiontoissuesharesofdifferentcategories,addressedtovarioustypesofinvestors,asdefinedindetailinparagraph14.

7. OnFund’sincorporationdate,theshareissuepricewasfixedatathousand(1.000)drachmas(2,93euros)per share. ThesesharescoincidewithclassAshares.On the incorporationdateof another shareclass(exceptA)thepriceofthesharesofthenewclasswillbeidenticaltothepriceofclassAshares.

8. Subscription to the Fund shall be established by registering relevant shares and beneficiary’s (orbeneficiaries) informationinManagementCompany’sspecificelectronicrecords.Theabovementionedelectronicrecord-keepingmaybeassignedbytheManagementCompanytoathirdpartyincompliancewithprovisionsofarticle22ofLaw4099/2012.

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TRITON GrowthGreek Equity FundGovernmentGazette#B700/30-08-1991

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TRITONGrowthGreekEquityFund

9. TheprovisionsofLaw5638/1932“ondepositsinajointaccount”shallapplyaccordinglytoFund’sshares.

10. Contractualtransferofsharesshallonlybeauthorizedbetweenspousesorfirstandseconddegreerelatives.ThetransfershallberegisteredinManagementCompany’sspecificelectronicrecord.

11. The sharesmay be pledged by the entry thereof inManagementCompany’s specific electronic record.Notificationofpledgee’sclaimisconductedafterhisownrequestforredemptionofsharestotheManagementCompany,inwhichcaseprovisionsofparagraphs1and2ofarticle3ofLaw1818/1951andofarticles1244etseq.oftheCivilCodeshallapply.

12. ThemanagementperiodoftheFundshallbethecalendaryear.

13. AnyamendmentstoRegulationareconsideredasacceptedbyshareholders,iftheydonotrequest,withinthree(3)monthsof thenotificationof theamendment, theredemptionof theirsharesonthebasisof theRegulation applicable before the amendment. The above mentioned amendments shall be posted onManagementCompany’swebsite,andshallbenotifiedthroughdurablemedium.

14. The Fund’s shares are divided into four different classes, addressing to various types of investors andprovidedifferentrightswithregardtosubscriptionandredemptioncommissions,thefeeoftheManagementCompanyaswellastheminimuminitialinvestmentandtheminimumposition.

a)ClassΑshares:ClassAsharesareavailabletoallinvestors.Allmutualfundsharesissuedandallocatedpriorto8.10.2014,aswellassharesthathavenotbeencategorizeddifferentlyareclassAshares.ClassAshareshaveasminimuminitialinvestmentandminimumpositiontheamountof€3.000.

b)Class Ε shares: Class E shares are available only to investors who transact with theManagementCompanythroughspecificBanks,InsuranceCompanies,InvestmentServicesCompanies(E.P.E.Y)andInvestmentIntermediationCompanies(A.E.E.D)thatbelongtothecurrentexistingMutualFundsharesdistributionnetworkoftheManagementCompany.ClassEshareshaveasminimuminitialinvestmentandminimumpositiontheamountof€1.000.

c)ClassIshares:ClassIsharesareavailableonlytoinstitutionalinvestors.Institutionalinvestors,fordistinctionpurposesoftheMutualFund,shallmeanthedomesticandforeignfinancialinstitutions,thesocialsecurityandpensionfunds,theinsurancecompanies,UCITS,CIU,etc.Incaseofdoubtordisputeregardingthecapacityoftheinstitutionalinvestorasanexistingorpotentialshareholder,theManagementCompanywillberesponsibletodecidepermanently.ClassIshareshaveasminimuminitialinvestmentandminimumpositiontheamountof€1.000.000.

d)ClassZshares:ClassZsharesareavailableexclusivelytospecificinvestmentproducts,whichareissuedbydomestic and foreign financial institutions.ClassZ shareshaveasminimum initial investment andminimumpositiontheamountof€1.000.000.

15. Thesharesofthesameclassprovidethesamerightstotheirshareholders.Anycostthatoccursduringtheissuanceofanewsharesclassistakenintoaccountforthecalculationofthesharepriceofthenewclass.TheManagementCompanymay,ifthemarketconditionsjustifyit,decidetocloseaclassorunifydifferentshareclasses.

16. The minimum initial investment amount may be lifted or reduced at the discretion of the ManagementCompany. If, asa result of redemptionsor conversions, theminimumposition is lower than theamountdefined for eachclass, theManagementCompanymayconsider that the shareholder has requested toconverthistotalpositiontothenextclass.Theabovedoesnotapplyincasethevalueoftheshareholder’spositionhasdroppedbelowtheminimumlimit,asaresultofmarketactions.

17.Thesharepriceiscalculatedseparatelyforeachshareclass.

Article 3. Mutual Fund’s Investment Objective and Investment Policy

1. The Fund’s objective is to provide the shareholder capital growth and income by investing primarily indomesticequitysecuritiesandsecondarilyinbondsandcash.

2. TheFund’sinvestmentpolicyisachievedthroughadiversifiedportfolio,mainlyingreekcompaniesstocks,listedintheAthensStockExchange.Toachieveitsobjective,theManagementCompanyshallinvestFund’sassetsinaportfolioofstockswhich,initsopinion,offersoptimummedium-termgrowthprospectswhiletryingtobenefitfromshort-termtrendsofthestockmarket.Aboveinvestmentsrepresentaminimumofsixtyfivepercent(65%)ofitsnetassets.

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3. Forinvestmentpolicypurposesandinordertoachieveitsobjective,theFund’sassetsmayalsobeinvestedin derivative financial instruments, under provisions of article 60 of Law 4099/2012 and Capital MarketCommission’sdecisionsasinforce.

4. TheManagementCompanymayuseinstrumentsandtechniquesrelatingtotransferablesecurities,moneymarket instruments andderivative financial instruments for efficient Fund’s portfoliomanagement and/orhedging.ThroughsuchoperationstheFundmaynotdeviatefromitsinvestmentsobjectivesasdefinedinpresentRegulation.

5. BasedonFund’spursuedinvestmentpolicy,itsdegreeofriskischaracterizedashigh.

6. TheFund isdesignedfor investorswhowishtobenefit fromstocksprofitpotential,andwhorespectivelyacceptfluctuationsofstockmarketsandtheriskofcapitalloss.Ittargetsmediumtolongterminvestors,andhasnotimecommitment.

7. ThereisnoguaranteethattheFundwillachieveitsintendedresultsasdescribedinitsobjectiveandthereisnocapitalguaranteonitsassets.

Article 4. Mutual Funds Investments

1. TheFund’sinvestmentsshallsolelyconsistof:

a) transferablesecuritiesandmoneymarketinstrumentsadmittedtoand/ordealtinonaregulatedmarketwithinthemeaningofparagraph10ofarticle2ofLaw3606/2007,asapplicable,aswellasofcorrespondingprovisionsofmemberstates’nationallegislations,withwhichtheycompliedwiththeprovisionofcase14ofparagraph1ofarticle4ofDirective2004/39/EC,asapplicable,

b) transferablesecuritiesandmoneymarketinstrumentsdealtinonanotherregulatedmarketinamemberstate,whichoperatesregularly,isrecognizedandopentothepublic,

c) transferablesecuritiesandmoneymarket instrumentsadmittedtoastockexchangeinanon-memberstate or dealt in on another regulatedmarket in a non-member state, which is supervised, operatesregularlyandisrecognizedandopentothepublic.ThestockexchangesandmarketsreferredtoshallbedeterminedbydecisionoftheCapitalMarketCommission,

d) recently issued transferable securities provided that the terms of issue include the obligation that anapplicationwill bemade foradmission toofficial listingonastockexchangeor toanother regulatedmarketreferredina),b),c)ofthisparagraph,andprovidedthatsuchadmissionissecurednolaterthanwithinone(1)yearofissue,

e) shares of UCITS authorized according to Law 4099/2012 or Directive 2009/65/EC or shares of otherundertakings for collective investment, which have characteristics comparable to cases a and b ofparagraph2ofarticle2ofLaw4099/2012,asapplicable,shouldtheybeestablishedinamemberstateornot,providedthat:

ea) suchotherundertakingsforcollectiveinvestmentareauthorizedunderlawswhichprovidethattheyaresubject tosupervisionconsideredbyCapitalMarketCommission tobeat leastequivalent tothat laid down inCommunity law, and provided thatCapitalMarketCommission has concludedcooperationagreementswiththecorrespondingsupervisoryauthorityfortheexchangeofconfidentialinformation.

eb) thelevelofprotectionforshareholdersintheotherundertakingsforcollectiveinvestmentisatleastequivalent to that provided for shareholders in UCITS, and in particular that the rules on assetssegregation,borrowing,lending,anduncoveredsalesoftransferablesecuritiesandmoneymarketinstrumentsareequivalenttotherequirementsofDirective2009/65/EU,asapplicable,

ec) the activities of the other undertakings for collective investment are reported in semi-annual andannualreportstoenableanassessmentofassetsandliabilities,resultsandoperationsconductedoverthereportingperiod,and,

ed) nomorethantenpercent(10%)oftheUCITS’ortheothercollectiveinvestmentundertakings’assets,whosesharesaretobeacquired,can,accordingtotheirregulationsorinstrumentsofincorporation,beinvestedinsharesofotherUCITSorotherundertakingsforcollectiveinvestment.

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f) depositswithcredit institutionswhicharerepayableondemandortimedepositsmaturinginnomorethantwelve(12)months,providedthatthecreditinstitutionhasitsregisteredofficeinamemberstateor,ifthecreditinstitutionhasitsregisteredofficeinathirdcountry,providedthatitissubjecttosupervisoryrulesconsideredasequivalenttothoselaiddownbyCommunitylaw.ThirdcountriesreferredhereinshallbedeterminedfromtimetotimebydecisionoftheCapitalMarketCommission,followingconsultationswiththeBankofGreece.

g) financial derivative instruments, includingequivalent cash-settled instruments, dealt in ona regulatedmarketreferredtoin(a),(b)and(c)ofthisparagraph1orfinancialderivativeinstrumentsdealtinover-the-counter(‘OTCderivatives’),providedthat:

ga) theunderlyingassetofthefinancialderivativeinstrumentconsistsofanyoftheinstrumentsreferredtointhisparagraph,financialindices,interestrates,foreignexchangeratesorcurrencies,comprisedinFund’sinvestmentobjectivesasstatedinthepresentRegulation,

gb) the counterparties to OTC derivative transactions are financial institutions subject to prudentialsupervision as per these transactions, and belonging to the categories specified by the CapitalMarketCommission,and,

gc) theOTCderivativesaresubjecttoreliableandverifiablevaluationonadailybasisandcanbesold,liquidatedorclosedbyanoffsettingtransactionatanytimeattheirfairvalueattheFund’sinitiative,

h) moneymarketinstrumentsofcasexvi)ofarticle3ofLaw4099/2012,exceptthosedealtinonaregulatedmarket,iftheissueorissuerofsuchinstrumentsisitselfregulatedforthepurposeofprotectinginvestorsandtheirsavings,andprovidedthattheyare:

ha) issuedorguaranteedbyacentral,regionalorlocalauthority,byacentralbankofamemberstate,theEuropeanCentralBank,theEuropeanUnion,theEuropeanInvestmentBank,athirdcountryor,inthecaseofaFederalState,byoneofitsmembers,orbyapublicinternationalbodytowhichoneormorememberstatesbelong,or

hb) issuedbyanentityofwhichanytransferablesecuritiesaredealtinonregulatedmarketsreferredtoincases(a),(b)or(c)ofthisparagraph,or

hc) issued or guaranteed by an entity subject to prudential supervision, in accordance with criteriadefinedbyCommunitylaw,orbyanestablishmentwhichissubjecttoandcomplieswithsupervisoryrulesconsideredatleastequivalentasthoselaiddownbyCommunitylaw;or

hd) issuedbyotherentitiesbelonging to thecategoriesspecifiedby theCapitalMarketCommissionprovidedthatinvestmentsinsuchinstrumentsaresubjecttoinvestorprotectionatleastequivalenttothatlaiddowninha),hb)orhc)ofpresentcaseandprovidedthattheissueris:

i)acompanywhosecapitalandreservesamounttoatleasttenmillioneuros(€10.000.000)andwhichsubmitsandpublishesitsannualaccountsorreportsinaccordancewitharticle7αofc.l.2190/1920andfourthDirective78/660/EECoftheCouncil(EUL222/14.8.1978),basedonarticle54(3)(g)oftheTreatyaboutannualreports(accounts),ascurrentlyinforce,forcertaintypeofcompanies,or

ii)an entitywithin agroupof companieswhich includesoneor several listed companies and isdedicatedtothefinancingofthegroup,or

iii)anentitywhichisdedicatedtothefinancingofsecuritizationvehicleswhichbenefitfromabankingliquidityline.

2. TheFundmayinvestnomorethantenpercent(10%)ofitsnetassetsintransferablesecuritiesandmoneymarketinstruments,otherthanthosereferredtoinparagraph1ofthisarticleandmayholdancillaryliquidassets.

3. TheFundmaynotacquireeitherpreciousmetalsorcertificatesrepresentingthem.

Article 5. Investment Limits, Risk Allocation

1. TheFundmayinvestnomorethantenpercent(10%)ofitsnetassetsintransferablesecuritiesandmoneymarketinstrumentsofthesameissuer.

2. TheFundmayinvestnomorethanfourtypercent(40%)ofitsnetassetsintransferablesecuritiesandmoney

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marketinstrumentsofissuersineachofwhichitinvestsmorethanfivepercent(5%)ofitsnetassets.ThislimitationshallnotapplytodepositsandOTCderivativestransactions.Thetransferablesecuritiesandmoneymarket instrumentsreferredto inparagraph5and6of thisarticleshallnotbetaken intoaccount for theapplicationofthefourtypercent(40%)limit.

3. TheFund’stotalinvestmentinsharesorstocksofUCITSorotherundertakingsforcollectiveinvestmentreferredtoincasee)ofparagraph1inarticle4ofpresentRegulation,maybenomorethantenpercent(10%)ofitsnetassets.Tocalculatetheinvestmentlimitsunderthisparagraph3,accountshallnotbetakenofinvestmentsmadebyUCITSorotherundertakingsforcollectiveinvestment,ofwhichtheFundhasobtainedshares.

4. TheFundmaynotinvestmorethantwentypercent(20%)ofitsnetassetsindepositswiththesamecreditinstitution.

5. Notwithstandingparagraph1ofthisarticle,theFundmayinvestnomorethanthirty-fivepercent(35%)ofitsnetassets intransferablesecuritiesandmoneymarket instrumentsof thesameissuer, if thetransferablesecuritiesormoneymarketinstrumentsareissuedorguaranteedbyamemberstateorthirdcountries,asdefinedbyCapitalMarketCommission, orbypublic international bodiesofwhichoneormorememberstatesaremembers.

6. Notwithstandingparagraph1ofthisarticle,theFundmayinvestnomorethantwenty-fivepercent(25%)ofitsnetassetsinbondsissuedbyacreditinstitutionwhichhasitsregisteredofficeinamemberstateandissubjectbylawtospecialpublicsupervisiondesignedtoprotectbondholders.Inparticular,amountsderivedfromtheissueofthesebondsmustbeinvestedinconformitywiththelawinassetswhich,duringthelifespanofthebonds,arecapableofcoveringitsobligationsandwhich, incaseoffailureofthe issuer,wouldbeusedonaprioritybasisforthereimbursementofprincipalandpaymentoftheaccruedinterest.TheFundinvestmentsinbondsreferredtointhiscase,whichrepresentsmorethanfivepercent(5%)fromthesameissuer,cannotexceedatotalvalueofeightypercent(80%)ofitsnetassets,withinthelimitof25%perissuer.

7. TheriskexposuretoacounterpartyoftheFundinanOTCderivativetransactionmaynotexceed:

a) tenpercent (10%)ofFund’snetassetswhen thecounterparty isacredit institution referred to in f)ofparagraph1ofarticle4ofRegulation,and

b)fivepercent(5%)ofFund’snetassets,inallothercases.

8. Subjecttoparagraphs1,2,4and7ofpresentarticle,theFundmaynotcombine,intotal,morethantwentypercent(20%)ofitsnetassetsin:

a) investmentsintransferablesecuritiesormoneymarketinstrumentsissuedbythesamebody,

b) depositsmadewithsuchbody,and/or

c) exposuresarisingfromOTCderivativetransactionsundertakenwithsuchbody.

9. Investments in transferablesecuritiesormoneymarket instruments issuedbythesamebodyordepositsmadewiththisbodyortransactionsinderivativefinancialinstrumentswiththisbodyascounterparty,carriedoutinaccordancewithparagraphs1to8ofthisarticleandwithcaseofparagraph7shallnotexceedintotalthirty-fivepercent(35%)oftheFund’snetassets.

10. Aggregateinvestmentsintransferablesecuritiesandmoneymarketinstruments,asreferredtoinparagraph5ofthisarticle,mayincreaseuptoonehundredpercent(100%)oftheFund’snetassets,providedthat:(a)theFundholdstransferablesecuritiesandmoneymarketinstrumentsfromatleastsix(6)differentissues,andsecuritiesfromoneissuemaynotexceedthirtypercent(30%)ofitstotalnetassetsandb)theStatesand public international bodies to which one or moremember states belong and which are issuing orguaranteeingsecuritiesandmoneymarketinstrumentsinwhichtheFundintendstoinvestmorethanthirtyfivepercent(35%)ofitsnetassetsarethefollowing:memberstatesoftheEuropeanUnion,OECDcountries,publicinternationalbodiesastheIMF,WTO,EDF,EIF,EIB,IBRD,EBRD.

11. Companieswhicharepartofthesamegroupforthepurposesoftheestablishmentofconsolidatedaccounts,asdefinedinaccordancewithprovisionsofc.l.2190/1920andDirective83/349/EEC(EUL193/18.7.1983)orinaccordancewithrecognizedinternationalaccountingrules,areregardedasasinglebodyforthepurposeofcalculatingthelimitscontainedinprovisionsofparagraph8andinitema)ofparagraphs8and9ofpresentarticle.Within the limit set inparagraph 1of thisarticle, regarding theFund’s investments in transferablesecuritiesandmoneymarket instrumentsof thesame issuer, theFundmaynot invest in totalmore than

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twentypercent(20%)ofitsnetassetsintransferablesecuritiesormoneymarketinstrumentsofcompaniesofthesamegroup.TheManagementCompanymustincludeintheFund’sprospectusanditsannualandsemi-annualreportsaspecialreferencetoitsinvestmentincompaniesofthesamegroup.

12. TheManagementCompanyactinginconnectionwithalloftheMutualFundsitmanagesmaynotacquireanystocksofacompanyregisteredinGreeceoranon-MemberState,withorwithoutvotingrights,representingmorethantenpercent(10%)oftheaggregateofthecorrespondingcategoryofstocks.

13. TheManagementCompanyactinginconnectionwithalloftheMutualFundsitmanagesmaynotacquireanystocksofacompany registered inanotherMemberState,withorwithout voting rights, representingmorethantenpercent(10%)oftheaggregateofthecorrespondingcategoryofstocks,unlessthenationallegislationofsuchotherMemberStatehaslaiddownotherrestrictions.

14. TheFundmaynotacquiremorethan:

a) tenpercent(10%)ofthevotingstocksofanysingleissuingbody.

b) tenpercent(10%)ofthenon-votingstocksofanysingleissuingbody,

c) tenpercent(10%)ofthetotalbondsofanysingleissuingbody,

d) tenpercent(10%)ofthemoneymarketinstrumentsofanysingleissuingbody,

e) twenty-fivepercent(25%)ofthesharesofanysinglemutualfundorothercollectiveinvestmentundertakingwithinthemeaningofcaseeofparagraph1ofarticle4ofpresentRegulation.

Theinvestmentslimitslaiddowninc),d)ande)ofthisparagraphmaybedisregardedatthetimeofacquisitionifatthattimethegrossvalueofthebondsormoneymarketinstrumentsorthenetvalueofthesharesofmutualfundsorothercollectiveinvestmentundertakingscannotbecalculated.

15. Therestrictionslaiddowninparagraphs12,13and14ofthisarticleshallnotapplytotransferablesecuritiesandmoneymarketinstrumentsreferredtoinparagraphs5,6and10ofarticle5,aswellastostocksinacompanyregisteredinathirdcountry,whereunderthelegislationofthatcountrysuchaholdingrepresentstheonlywaytoinvestinthesecuritiesofissuingbodiesofthatcountry,providedthatinitsinvestmentpolicythiscompanycomplieswiththelimitslaiddowninprovisionsofpresentarticle.

16. TheFundmay invest,asapartof its investmentpolicyandpursuant topresentRegulationand relevantprovisionsofLaw4099/2012,asapplicable, in financialderivative instrumentsprovidedthat theexposuretotheunderlyingassetsofthefinancialderivativeinstrumentcombinedwithriskexposurefrominvestingintransferablesecuritiesandmoneymarketinstrumentsofthesameissuer,doesnotexceedinaggregatetheinvestmentlimitslaiddowninpresentarticle’sprovisions.WhentheFundinvestsinunderlyingindex-basedfinancialderivativeinstruments,theseinvestmentsdonothavetobetakenintoaccountforthepurposeofcalculatingtheinvestmentlimitslaiddowninprovisionsofpresentarticle.

17. TheFundensuresthattheoverallriskinrelationtofinancialderivativeinstrumentsdoesnotexceeditstotalnet asset value. The risk exposure is calculated taking into account the current value of the underlyingfinancialderivativeinstruments,thecounterpartyrisk,foreseeablemarketmovementsandthetimeavailabletoliquidatethepositions.

18. Whenatransferablesecurityoramoneymarketinstrumentembedsaderivative,thelattermustbetakenintoaccountwhencalculatingtheinvestmentlimitsonderivativefinancialinstrumentsofthepresentarticle.

Article 6. Net Asset Valuation and Determination of Net Asset Value Per Share

1. ThenetassetsoftheFund,thenumberofitsshares,thenetassetvaluepershare,thesubscriptionpriceand the redemptionprice shall be calculated every businessday, and shall bepostedonManagementCompany’swebsite.

2. ThedeterminationofFund’snetassetvalueshallbedeterminedpursuanttotherulesofthisarticle.ThevalueoftheFund’snetassetsisdetermined,bydeductingthefeesandcommissionsoftheManagementCompany,theCustodianandthemembersofregulatedmarkets, theexpensesofmandatorypublicationsasperLaw4099/2012,theexpensesincurredbytheFundunderitsRegulationandtheprofitsdistributedtoshareholdersatthevaluationof31Decemberofeachyear.WiththeexceptionofmandatorypublicationsasperLaw4099/2012,anyotherpublicationregardingtheFundshallbeattheexpenseoftheManagementCompany.

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3. TodeterminethenetassetvaluepershareoftheMutualFund,thetotalvalueofitsnetassetsshallbedividedbythenumberofitsshares.Thenetassetvaluepershareisdeterminedseparatelyforeachshareclass.

4. The Management Company shall value the Fund’s assets at their fair value, under provisions of Law4308/2014andinaccordancewiththeaccountingrulesadoptedbydecisionofCapitalMarketCommission.ThedeterminationoffairvaluesandrelevantreportingsaredeterminedinaccordancewithIFRS.

5. ThesubscriptionandredemptionpriceoftheMutualFund’ssharemayexceedorfallshort,respectively,ofthenetpricepersharebytherateoftherelevantsubscriptionorredemptioncommissionoftheManagementCompany,accordingtoarticle8ofpresentRegulation.

Article 7. Subscription and Redemption Terms

1. SubscriptiontotheFundrequiresthefollowing:

(a)applicationfromprospectiveshareholdertotheManagementCompanyinamannerdeterminedbythelatterandwhichensurestheidentificationofprospectiveshareholder.

(b)provisionofbrochure“KeyInformationforInvestors”toprospectiveshareholderand

(c)paymentincashtotheCustodianoftotalsharesvalue.

2. TheManagementCompanymayacceptthepaymentofsharesvalueintransferablesecurities,asreferredtoincasexv)ofarticle3ofLaw4099/2012,listedinaregulatedmarket,asreferredtoinparagraph10ofarticle2ofLaw3606/2007,asapplicable.

3. TheissueanddisposalofnewsharesisfreelydecidedbytheManagementCompany.

4. Theacceptanceof application for subscription in theFund is decidedby theManagementCompany inaccordancewiththetermsofitsRegulation.

5. UponManagementCompany’sacceptanceofapplication,theissueofcorrespondingsharesisbasedontheassetvaluepershareonthedayofsubmissionoftheapplication,pursuanttoarticle6ofthepresent,providedthatfullvalueofshareshasbeenpaidtotheCustodian.

6. The Management Company may distribute to Fund’s investors free shares of said Fund, following theauthorization of Capital Market Commission. Aforesaid authorization shall not be required in case theManagementCompanydecidestoreinvestthedividendinFundshares.

7. The Management Company may make its shares available directly and/or it may enter into delegationagreementsforthesaleofsharesthroughcreditinstitutions,insurancecompanies,mutualfundmanagementcompanies (AEDAK), companies providing investment intermediation services (AEED) and investmentservicesfirms(EPEY).

8. Theredemptionofsharesshallbemandatorywhensorequestedbytheshareholder.

9. Tothisend,theshareholdershallsubmitanapplicationtotheManagementCompanyinamannerdeterminedbythelatter,whichensurestheidentificationoftheshareholder.

10. Thesharesshallberedeemedatthepriceofshareredemptiononthedateofsubmissionoftheshareholder’sapplicationforredemption.Thispriceshallbedetermined,accordingtoarticle6ofpresentRegulation,onthebasisoftheassetvalueofthesameday.

11. Thevalueoftheredeemedfundsharesshallbepaidincashwithinfive(5)businessdaysofthesubmissionoftheapplicationforshareredemption.

12. The Management Company has the right, in exceptional cases, where circumstances so warrant andwherethebestinterestsoftheshareholderssodictateandwiththepriorauthorizationoftheCapitalMarketCommission,tosuspendtheredemptionofthesharesforuptothreemonths,whichmaybeextendedforthreemoremonthsatmaximum.ThesuspensionofredemptionandtheexpiryorrevocationthereofshallbepostedonManagementCompany’swebsite.Thenoticeofsuspensionofredemptionshallalsodeterminetheexpirythereof.Noapplicationforredemptionmaybesubmittedbyshareholdersduringthesuspensionofredemptionofshares.

13. The Capital Market Commissionmay, on the basis of the best interests of Fund’s shareholders and/orinvestorsandbyjustifieddecision,suspendtheredemptionofitsshares,inwhichcaseshareholdersmaynotsubmitanyapplicationforredemption.

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14. The Management Company is the sole responsible to decide which share class each shareholder islegitimizedtoacquire,accordingtotheparticularcharacteristicsofeachshareclassandofeachshareholderorprospectshareholder.

Article 8. Commissions, fees and other expenses charged to Fund’s assets and to Shareholders.

1. CommissionschargedtoFund’sshareholders:

Uponthesaleorredemptionofshares,theManagementCompanymaycollectthefollowingcommissions:

a) Commissionupto3%onvalueofsoldshares.

b)Commissionupto1%onvalueofredeemedshares.

2. FeesandotherexpenseschargedtoFund’sassets:

a) For the management of the Mutual Fund, the Management Company receives a Management feecalculatedasfollows:

(aa)FixedmanagementfeeamountinginannualpercentageonthenetassetvalueoftheMutualFundup to thepercentagedefined in thebelow table, foreachshareclass.This fee iscalculatedandcollectedmonthlyontheaveragedailyvaluationoftheMutualFund’snetassets,realizedthesaidmonth.

ShareClass A E I Z

MaximumpercentageoffixedManage-mentfeeperannum:

2,25% 3,00% 0,75% 0,00%

(ab) Forallshareclassesthevariablemanagementfeeofamaximumof15%ofanypositivedifferencebetweenperformanceofnetassetvaluepershareandperformanceoftheAthensStockMarket’sgeneralindex(benchmark),ofthesameperiod.Theperformanceofthenetassetvaluepershare,defined as the ratio of thedifferenceof the shareprice in relation to the shareprice on the lastbusinessdayof thepreviousyear, iscomparedwith theperformanceof thebenchmark,definedastheratioofthedifferenceofthebenchmarkvalueinrelationtothebenchmarkvalueonthelastbusinessdayofthepreviousyear.Inthecaseofapositivedifference,afeeiscalculated,equalto15%ofthisdifferenceontheaveragedailynetassetsoftheFund.Aprovisionforthisfeeshallbeaccounteddailyandwillbepayableattheendofeachcalendaryear.

Thesefeesincludeanypaidfeetotheinvestmentadvisorand/ortheFundmanagerwhomayhavebeenassignedtorelevantduties.

b) TheCustodianreceivesafeeofupto0,30%perannum,attheendofeachcalendarmonth,calculatedontheaveragedailyvaluationofFund’snetassets,realizedthesaidmonth.ThisfeeincludesthefeeofanythirdpersonwhichhascustodyofallorpartofFund’sassets.

c) Thecertifiedauditor’sfeethatauditsFund’sreportsinaccordancewiththeprovisionsofarticle77ofLaw4099/2012.

d)ThefeesandcommissionsontransactionsincurredonbehalfoftheFund.

e)ThecostsofprojectedpublicationsasperLaw4099/2012,madeonbehalfoftheFund.

f)TheexpensesrelatingtocompulsorybylawinformationofFund’sshareholders.

g)ThetaxesandlevieschargedtotheFundatanytime.

Article 9. Distribution or Reinvestment of Profits

1. The proceeds of the Fund from interest and dividends may be reinvested or distributed annually toshareholders,afterdeductingthetotalexpenditureofthemanagementperiod.

2. TheprofitsfromthesaleoffundassetsmaybereinvestedordistributedtoshareholdersatthediscretionoftheManagementCompany,totheextentthattheyarenotcompensatedbycapitallossespossiblyincurredbytheendoftheperiod.

3. In thecaseofdistributionofprofits, theyaredistributed toanyshareholderholdingsharesat theendof

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managementperiodduringwhichtheprofitwasgenerated.Thedistributionshallbemadewithinthree(3)monthsfromtheendofthemanagementperiodandshallbeprecededbyarelevantpostonManagementCompany’swebsite.

4. Uponpaymentofprofits,anyapplicabletaxesasstipulatedanytimebythelawarededucted.

Article 10. Dissolution of the Mutual Fund, Shareholders’ Meetings

1. TheFundmayproceedtodissolutionforthefollowingreasons:

(a)ifitscertificationofincorporationisrevokedbytheCapitalMarketCommission.

(b)uponredemptionofitstotalshares

(c)followingdecisionofitsshareholders’meeting

(d)followingdissolution,resignation,bankruptcy,entryintojudicialadministrationorrevocationofthelicenseoftheManagementCompanyortheCustodian,iftheirreplacementisnotfeasibleor

(e)followingrelevantdecisionoftheManagementCompany.

2. IntheeventofdissolutionoftheFund,thedistributionofitsassetsshallbemadebytheCustodianbyorderof theManagementCompany. On conclusion of the distribution of the Fund’s assets, a special reportshallbeprepared,whichshallalsobesignedbytheManagementCompany,theCustodianandacertifiedauditor.ThereportshallbeforthwithforwardedtotheCapitalMarketCommissionandshallbepostedtotheManagementCompany’swebsiteandshallbemadeavailabletotheFund’sshareholders,atthepointsofsaleofitsshares.

3. Shareholders representing at least one-twentieth (1/20) of the Fund’s shares shall be entitled to ask theManagementCompanytoconveneameetingofshareholdersonanymatterrelating,directlyorindirectly,withtheFund’smanagement.TheManagementCompanyshallconvenesuchmeetingofFund’sshareholderswithinatmostthirty(30)daysofthedeliveryoftheaforesaidrequest.

4. If the value of the Fund’s net assets, in comparison to the reference value determined pursuant to thefollowingparagraphs,isreducedbyfive-tenths(5/10),theCapitalMarketCommissionmayrequirefromtheManagementCompanytoconveneameetingofshareholderswiththepurposeofFund’sdissolutionasperprecedingparagraph.ThereferencevalueshallbecalculatedonthefirstdayofeachcalendarquarterasthenumericalaverageofthevalueofthenetassetsoftheFundinthepastfour(4)quarters.Onexpiryofeachnewquarter,thevalueofthenetassetsoftheFundinthisquartershallreplace,accordingtothesaidcalculationofthereferencevalue,therelevantvalueofthepreviousquarter.IftheCapitalMarketCommissiondecidestoconveneameetingofshareholders, theredemptionof theFund’ssharesshallbesuspendeduntiltheconclusionofthedistributionprocess.IftheCapitalMarketCommissiondecidesthedissolutionoftheFundthesharesredemptionrightmaynomorebeexercised.Intheoppositecase,suspensionofshareredemptionisrevoked.

THE CUSTODIAN THE MANAGEMENT COMPANY


11


1. TheManagementCompanyistheincorporatedcompanyunderthename“TRITON ASSET MANAGEMENT SA MUTUAL FUNDS COMPANY”withregisteredofficeinAthens,fromhereon“theManagementCompany”,incorporatedandoperatingunderauthorization76/26.3.1991oftheHellenicCapitalMarketCommission.




5. Assetsheldby theCustodianarenot reusedby theCustodianoranyother thirdparty towhomcustodydutieshavebeenassignedonitsbehalf.AssetsheldbytheCustodiancanonlybereusedwhen(a)thatisdoneonbehalfoftheMutualFund,(b)theCustodianiscarryingoutinstructionsfromtheAssetManageronbehalfoftheMutualFund,(c)reuseisbeneficialfortheMutualFundandintheinterestofshareholdersand(d)thetransactionisbackedbyliquidatinghighqualitycollateralwhichtheMutualFundhasreceivedinthecontextofasecuritiestransferagreement.


1. TheManagementCompanyestablishedamutualfundunderthename:«MIDLANDINTERNATIONALEQUITYFUND».AfterCapitalMarketCommission’sdecisionno174/3.5.2000itwasrenamed“HSBCINTERNATIONALEQUITYFUND»Afterdecisionno10/360/30.07.2002oftheCapitalMarketCommissionithasbeenrenamed“HSBCAMERICANEQUITYINTERNATIONALFUND”.Finally,underCapitalMarketCommission’sdecisionno170/14.5.2013 itwasrenamed«TRITON AMERICAN EQUITY INTERNATIONAL FUND»,andwillbereferredasthe«Fund»,withan initialcapitalof fourhundredmillion(400.000.000)drachmas(1.173.881,14euros),governedbyprovisionsoftheLaw4099/2012astheyapplyeachtimeandbypresentRegulation.







8. SubscriptiontotheFundshallbeestablishedbyregisteringrelevantsharesandbeneficiary’s(orbeneficiaries)informationinManagementCompany’sspecificelectronicrecords.Theabovementionedelectronicrecord-keepingmaybeassignedbytheManagementCompanytoathirdpartyincompliancewithprovisionsofarticle22ofLaw4099/2012.

9. TheprovisionsofLaw5638/1932“ondepositinajointaccount”shallapplyaccordinglytoFund’sshares.


TRITON American EquityInternational Fund

GovernmentGazette#B1780/24-09-1999

12

TRITONAmericanEquityInternationalFund






b)ClassΕshares:ClassEsharesareavailableonlytoinvestorswhotransactwiththeManagementCompanythroughspecificBanks,InsuranceCompanies,InvestmentServicesCompanies(E.P.E.Y)andInvestmentIntermediationCompanies(A.E.E.D)thatbelongtothecurrentexistingMutualFundsharesdistributionnetworkoftheManagementCompany.ClassEshareshaveasminimuminitialinvestmentandminimumpositiontheamountof€1.000.






Article 3. Mutual Fund’s Objective and Investment Policy

1. TheFund’sobjectiveistoachievelong-termreturnsfromcapitalgrowthbyinvestingprimarilyinstocks.

2. TheinvestmentpolicyoftheFundisachievedthroughadiversifiedportfolio,primarilyinvestedinselectedstocksofcompanies listedonregulatedmarketsofAmerica.Aboveinvestmentsrepresentaminimumofsixtyfivepercent(65%)ofitsnetassets.

3. TheFundsinvestmentscurrencyisprimarilytheU.S.dollar.


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5. TheManagementCompanymayuseinstrumentsandtechniquesrelatingtotransferablesecurities,moneymarketinstrumentsandderivativefinancialinstrumentsforefficientFund’sportfoliomanagementand/orhedging.ThroughsuchoperationstheFundmaynotdeviatefromitsinvestmentsobjectivesasdefinedinpresentRegulation.


7. TheFund isdesignedfor investorswhowishtobenefit fromstocksprofitpotential,andwhorespectivelyaccepttheirfluctuationsandtheriskofcapitalloss.Ittargetsmediumtolongterminvestors,andhasnotimecommitment.

8. ThereisnoguaranteethattheFundwillachieveitsintendedresultsasdescribedinitsobjectiveandthereisnocapitalguaranteeonitsassets.




b) transferablesecuritiesandmoneymarketinstrumentsdealtinonanotherregulatedmarketinamemberstate,whichoperatesregularly,isrecognizedandopentothepublic,


d) recently issued transferable securities provided that the terms of issue include the obligation that anapplicationwill bemade foradmission toofficial listingonastockexchangeor toanother regulatedmarketreferredina),b),c)ofthisparagraph,andprovidedthatsuchadmissionissecurednolaterthanwithinone(1)yearofissue.


ea) suchotherundertakingsforcollectiveinvestmentareauthorizedunderlawswhichprovidethattheyaresubjecttosupervisionconsideredbyCapitalMarketCommissiontobeatleastequivalenttothatlaiddowninCommunity law,andprovidedthatCapitalMarketCommissionhasconcludedcooperationagreementswiththecorrespondingsupervisoryauthorityfortheexchangeofconfidentialinformation.





14









hc) issued or guaranteed by an entity subject to prudential supervision, in accordance with criteriadefinedbyCommunitylaw,orbyanestablishmentwhichissubjecttoandcomplieswithprudentialrulesconsideredatleastequivalentasthoselaiddownbyCommunitylaw;or









2. TheFundmayinvestnomorethanfourtypercent(40%)ofitsnetassetsintransferablesecuritiesandmoneymarketinstrumentsofissuersineachofwhichitinvestsmorethanfivepercent(5%)ofitsnetassets.ThislimitationshallnotapplytodepositsandOTCderivativestransactions.Thetransferablesecuritiesandmoneymarket instrumentsreferredto inparagraph5and6of thisarticleshallnotbetaken intoaccount for theapplicationofthefourtypercent(40%)limit.

3. TheFund’stotalinvestmentinsharesorstocksofUCITSorotherundertakingsforcollectiveinvestmentreferredtoincasee)ofparagraph1inarticle4ofpresentRegulation,maybenomorethantenpercent(10%)ofitsnet

15


assets.Tocalculatetheinvestmentlimitsunderthisparagraph3,accountshallnotbetakenofinvestmentsmadebyUCITSorotherundertakingsforcollectiveinvestment,ofwhichtheFundhasobtainedshares.






b) fivepercent(5%)ofFund’snetassets,inallothercases.







11. Companieswhicharepartofthesamegroupforthepurposesoftheestablishmentofconsolidatedaccounts,asdefinedinaccordancewithprovisionsofc.l.2190/1920andDirective83/349/EEC(EUL193/18.7.1983)orinaccordancewithrecognizedinternationalaccountingrules,areregardedasasinglebodyforthepurposeofcalculatingthelimitscontainedinprovisionsofparagraph8andinitema)ofparagraphs8and9ofpresentarticle.Within the limit set inparagraph 1of thisarticle, regarding theFund’s investments in transferablesecuritiesandmoneymarket instrumentsof thesame issuer, theFundmaynot invest in totalmore thantwentypercent(20%)ofitsnetassetsintransferablesecuritiesormoneymarketinstrumentsofcompaniesofthesamegroup.TheManagementCompanymustincludeintheFund’sprospectusanditsannualandsemi-annualreportsaspecialreferencetoitsinvestmentincompaniesofthesamegroup.


16




a)tenpercent(10%)ofthevotingstocksofanysingleissuingbody.

b)tenpercent(10%)ofthenon-votingstocksofanysingleissuingbody,

c)tenpercent(10%)ofthetotalbondsofanysingleissuingbody,

d)tenpercent(10%)ofthemoneymarketinstrumentsofanysingleissuingbody,

e)twenty-fivepercent(25%)ofthesharesofanysinglemutualfundorothercollectiveinvestmentundertakingwithinthemeaningofcaseeofparagraph1ofarticle4ofpresentRegulation.

Theinvestmentlimitslaiddowninc),d)ande)ofthisparagraphmaybedisregardedatthetimeofacquisitionifatthattimethegrossvalueofthebondsormoneymarketinstrumentsorthenetvalueofthesharesofmutualfundsorothercollectiveinvestmentundertakingscannotbecalculated.



17.TheFundensuresthattheoverallriskinrelationtofinancialderivativeinstrumentsdoesnotexceeditstotalnet asset value. The risk exposure is calculated taking into account the current value of the underlyingfinancialderivativeinstruments,thecounterpartyrisk,foreseeablemarketmovementsandthetimeavailabletoliquidatethepositions.

18.Whenatransferablesecurityoramoneymarketinstrumentembedsaderivative,thelattermustbetakenintoaccountwhencalculatingtheinvestmentlimitsonderivativefinancialinstrumentsofthepresentarticle.

Article 6. Net Asset Valuation and Determination of Net Asset Value Per Share

1. ThenetassetsoftheFund,thenumberofitsshares,thenetassetvaluepershare,theofferpriceandtheredemptionpriceshallbecalculatedeverybusinessday,andshallbepostedonManagementCompany’swebsite.

2. ThedeterminationofFund’snetassetvalueshallbedeterminedpursuanttotherulesofthisarticle.ThevalueoftheFund’snetassets,isdeterminedbydeductingthefeesandcommissionsoftheManagementCompany,theCustodianandthemembersofregulatedmarkets,theexpensesofmandatorypublicationsasperLaw4099/2012,theexpensesincurredbytheFundunderitsRegulationandtheprofitsdistributedtoshareholdersatthevaluationof31Decemberofeachyear.WiththeexceptionofmandatorypublicationsasperLaw4099/2012,anyotherpublicationregardingtheFundshallbeattheexpenseoftheManagementCompany.



17






(b)provisionofbrochure“KeyInformationforInvestors”toprospectiveshareholders.





5.UponManagementCompany’sacceptanceofapplication,theissueofcorrespondingsharesisbasedontheassetvaluepershareonthedayofsubmissionoftheapplication,pursuanttoarticle6ofthepresent,providedthatfullvalueofshareshasbeenpaidtotheCustodian.

6. TheManagementCompanymaydistribute toFund’s investors free sharesof saidFund, following theauthorizationofCapitalMarketCommission. Aforesaidauthorization shall notbe required in case theManagementCompanydecidestoreinvestthedividendinFundshares.

7.The Management Company may make its shares available directly and/or it may enter into delegationagreementsforthesaleofsharesthroughcreditinstitutions,insurancecompanies,mutualfundmanagementcompanies (AEDAK), companies providing investment intermediation services (AEED) and investmentservicesfirms(EPEY).





12. TheManagementCompany has the right, in exceptional cases, where circumstances sowarrant andwherethebestinterestsoftheshareholderssodictateandwiththepriorauthorizationoftheCapitalMarketCommission,tosuspendtheredemptionofthesharesforuptothreemonths,whichmaybeextendedforthreemoremonthsatmaximum.ThesuspensionofredemptionandtheexpiryorrevocationthereofshallbepostedonManagementCompany’swebsite.Thenoticeofsuspensionofredemptionshallalsodeterminetheexpirythereof.Noapplicationforredemptionmaybesubmittedbyshareholdersduringthesuspensionofredemptionofshares.



18





a)Commissionupto3%onvalueofsoldshares.





ShareClass A E I Z


2,25% 3,00% 0,75% 0,00%

(ab)Forallshareclassesthevariablemanagementfeeofamaximumof15%ofanypositivedifferencebetween performance of net asset value per share and performance of the S&P EUR Index(benchmark), of the sameperiod. Theperformanceof thenet asset valueper share, definedastheratioofthedifferenceofthesharepriceinrelationtothesharepriceonthelastbusinessdayofthepreviousyear,iscomparedwiththeperformanceofthebenchmark,definedastheratioofthedifferenceofthebenchmarkvalueinrelationtothebenchmarkvalueonthelastbusinessdayofthepreviousyear.Inthecaseofapositivedifference,afeeiscalculated,equalto15%ofthisdifferenceontheaveragedailynetassetsoftheFund.Aprovisionforthisfeeshallbeaccounteddailyandwillbepayableattheendofeachcalendaryear.


b)TheCustodianreceivesafeeofupto0,30%perannum,attheendofeachcalendarmonth,calculatedontheaveragedailyvaluationofFund’snetassets,realizedthesaidmonth.ThisfeeincludesthefeeofanythirdpersonwhichhascustodyofallorpartofFund’sassets.

c)Thecertifiedauditor’sfeewhoauditsFund’sreportsinaccordancewiththeprovisionsofarticle77ofLaw4099/2012.



f)TheexpensesrelatingtocompulsorybylawinformationofFund’sshareholders.





3. In thecaseofdistributionofprofits, theyaredistributed toanyshareholderholdingsharesat theendofmanagementperiodduringwhichtheprofitwasgenerated.Thedistributionshallbemadewithinthree(3)monthsfromtheendofthemanagementperiodandshallbeprecededbyarelevantpostonManagementCompany’swebsite.


19

Article 10. Dissolution of the Mutual Fund, Shareholder Meetings


(a)ifitscertificationofincorporationisrevokedbytheCapitalMarketCommission










20








1. The Management Company established a mutual fund under the name: “HSBC PAN-EUROPEANINTERNATIONALEQUITYFUND”,whichunderdecisionno170/14.5.2013ofCapitalMarketCommissionwasrenamed«TRITON PAN-EUROPEAN INTERNATIONAL EQUITY FUND»,andwillbereferredtoasthe«Fund»,withaninitialcapitaloffourhundredmillion(400,000,000)drachmas(1.173.881,14euros),governedbyprovisionsoftheLaw4099/2012astheyapplyeachtimeandbypresentRegulation.










11. The sharesmay be pledged by the entry thereof inManagementCompany’s specific electronic record.

TRITON Pan-European International Equity Fund


21

TRITONPan-EuropeanInternationalEquityFund

Notificationofpledgee’sclaimisconductedafterhisownrequestforredemptionofsharestotheManagementCompany,inwhichcaseprovisionsofparagraphs1and2ofarticle3ofLaw1818/1951andofarticles1244etseq.oftheCivilCodeshallapply.










17. Thesharepriceiscalculatedseparatelyforeachshareclass.


1. TheFund’sobjectiveistoachievelong-termreturnsfromcapitalgrowthbyinvestingprimarilyinstocks.

2. The investment policy of the Fund shall be achieved through a diversified portfolio,mainly in stocks ofcompanies listed inmajor/mature Europeanmarkets andwhich have their registered office in EuropeanUnion’scountries.Aboveinvestmentsrepresentaminimumofsixtyfivepercent(65%)ofitsnetassets.


4. TheManagementCompanymayuseinstrumentsandtechniquesrelatingtotransferablesecurities,moneymarketinstrumentsandderivativefinancialinstrumentsforefficientFund’sportfoliomanagementand/orhedging.ThroughsuchoperationstheFundmaynotdeviatefromitsinvestmentsobjectivesasdefinedinpresentRegulation.

22



6. TheFundisdesignedforinvestorswhowishtobenefitfromEuropeancapitalmarkets’profitpotential,andwhorespectivelyaccepttheirfluctuationsandtheriskofcapitalloss.Ittargetsmediumtolongterminvestors,andhasnotimecommitment.





b)transferablesecuritiesandmoneymarketinstrumentsdealtinonanotherregulatedmarketinamemberstate,whichoperatesregularly,isrecognizedandopentothepublic,

c) transferablesecuritiesandmoneymarket instrumentsadmittedtoastock-exchangeinanon-memberstate or dealt in on another regulatedmarket in a non-member state, which is supervised, operatesregularlyandisrecognizedandopentothepublic.ThestockexchangesandmarketsreferredtoshallbedeterminedbydecisionoftheCapitalMarketCommission,

d)recently issued transferable securities provided that the terms of issue include the obligation that anapplicationwill bemade foradmission toofficial listingonastockexchangeor toanother regulatedmarketreferredina),b),c)ofthisparagraph,andprovidedthatsuchadmissionissecurednolaterthanwithinone(1)yearofissue.


ea) suchotherundertakingsforcollectiveinvestmentareauthorizedunderlawswhichprovidethattheyaresubject tosupervisionconsideredbyCapitalMarketCommission tobeat leastequivalent tothat laid down inCommunity law, and provided thatCapitalMarketCommission has concludedcooperationagreementswiththecorrespondingsupervisoryauthorityfortheexchangeofconfidentialinformation.





g) financial derivative instruments, includingequivalent cash-settled instruments, dealt in ona regulatedmarketreferredtoin(a),(b)and(c)ofthisparagraph1orfinancialderivativeinstrumentsdealtinover-

23


the-counter(‘OTCderivatives’),providedthat:









i)acompanywhosecapitalandreservesamounttoatleasttenmillioneuros(€10.000.000)andwhich submits andpublishes its annual accounts or reports in accordancewith article 7α ofc.l.2190/1920 and fourthDirective 78/660/EEC of theCouncil (EU L 222/14.8.1978), based onarticle54(3)(g)oftheTreatyaboutannualreports(accounts),ascurrentlyinforce,forcertaintypeofcompanies,or

ii)anentitywithinagroupofcompanieswhich includesoneorseveral listedcompaniesand isdedicatedtothefinancingofthegroup,or

iii)an entity which is dedicated to the financing of securitization vehicles which benefit from abankingliquidityline.







24




6. Notwithstandingparagraph1ofthisarticle,theFundmayinvestnomorethantwenty-fivepercent(25%)ofitsnetassetsinbondsissuedbyacreditinstitutionwhichhasitsregisteredofficeinamemberstateandissubjectbylawtospecialpublicsupervisiondesignedtoprotectbondholders.Inparticular,amountsderivedfromtheissueofthesebondsmustbeinvestedinconformitywiththelawinassetswhich,duringtheentirelifespanofthebonds,arecapableofcoveringitsobligationsandwhich,incaseoffailureoftheissuer,wouldbeusedonaprioritybasisforthereimbursementofprincipalandpaymentoftheaccruedinterest.TheFundinvestmentsinbondsreferredtointhiscase,whichrepresentsmorethanfivepercent(5%)fromthesameissuer,cannotexceedatotalvalueofeightypercent(80%)ofitsnetassets,withinthelimitof25%perissuer.

7. TheriskexposuretoacounterpartyinanOTCderivativetransactionmaynotexceed:

a) tenpercent (10%)ofFund’snetassetswhen thecounterparty isacredit institution referred to in f)ofparagraph1ofarticle4ofProspectus,and





c)exposuresarisingfromOTCderivativetransactionsundertakenwithsuchbody.



11. Companieswhicharepartofthesamegroupforthepurposesoftheestablishmentofconsolidatedaccounts,asdefinedinaccordancewithprovisionsofc.l.2190/1920andDirective83/349/EEC(EUL193/18.7.1983)orinaccordancewithrecognizedinternationalaccountingrules,areregardedasasinglebodyforthepurposeofcalculatingthelimitscontainedinprovisionsofparagraph8andinitema)ofparagraphs8and9ofpresentarticle.Within the limit set inparagraph 1of thisarticle, regarding theFund’s investments in transferablesecuritiesandmoneymarket instrumentsof thesame issuer, theFundmaynot invest in totalmore thantwentypercent(20%)ofitsnetassetsintransferablesecuritiesormoneymarketinstrumentsofcompaniesofthesamegroup.TheManagementCompanymustincludeintheFund’sprospectusanditsannualandsemi-annualreportsaspecialreferencetoitsinvestmentincompaniesofthesamegroup.


13. TheManagementCompanyactinginconnectionwithalloftheMutualFundsitmanagesmaynotacquireanystocksofacompany registered inanotherMemberState,withorwithout voting rights, representing

25


morethantenpercent(10%)oftheaggregateofthecorrespondingcategoryofstocks,unlessthenationallegislationofsuchotherMemberStatehaslaiddownotherrestrictions.


a) tenpercent(10%)ofthevotingstocksofanysingleissuer.

b)tenpercent(10%)ofthenon-votingstocksofanysingleissuer,

c) tenpercent(10%)ofthetotalbondsofanysingleissuer,

d)tenpercent(10%)ofthemoneymarketinstrumentsofanysingleissuer,

e) twenty-fivepercent(25%)ofthesharesofanysinglemutualfundorothercollectiveinvestmentundertakingwithinthemeaningofcaseeofparagraph1ofarticle4ofpresentProspectus.

Theinvestmentlimitslaiddowninc),d)ande)ofthisparagraphmaybedisregardedatthetimeofacquisitionifatthattimethegrossvalueofthebondsormoneymarketinstrumentsorthenetvalueofthesharesofmutualfundsorothercollectiveinvestmentundertakingscannotbecalculated.


16. TheFundmay invest,asapartof its investmentpolicyandpursuant topresentProspectusandrelevantprovisionsofLaw4099/2012,asapplicable, in financialderivative instrumentsprovidedthat theexposuretotheunderlyingassetsofthefinancialderivativeinstrumentcombinedwithriskexposurefrominvestingintransferablesecuritiesandmoneymarketinstrumentsofthesameissuer,doesnotexceedinaggregatetheinvestmentlimitslaiddowninpresentarticle’sprovisions.WhentheFundinvestsinunderlyingindex-basedfinancialderivativeinstruments,theseinvestmentsdonothavetobetakenintoaccountforthepurposeofcalculatingtheinvestmentlimitslaiddowninprovisionsofpresentarticle.

17. TheFundensuresthattheoverallriskinrelationtofinancialderivativeinstrumentsdoesnotexceeditstotalnetassetvalue.Theriskexposureiscalculatedtakingintoaccountthecurrentvalueoftheunderlyingfinancialderivativeinstruments,thecounterpartyrisk,foreseeablemarketmovementsandthetimeavailabletoliquidatethepositions.


Article 6. Net Asset Valuation and Determination of Net Asset Value per share


2. ThedeterminationofFund’snetassetvalueshallbedeterminedpursuanttotherulesofthisarticle.ThevalueoftheFund’snetassets,isdeterminedbydeductingthefeesandcommissionsoftheManagementCompany,theCustodianandthemembersofregulatedmarkets,theexpensesofmandatorypublicationsasperLaw4099/2012,theexpensesincurredbytheFundunderitsProspectusandtheprofitsdistributedtoshareholdersatthevaluationof31Decemberofeachyear.WiththeexceptionofmandatorypublicationsasperLaw4099/2012,anyotherpublicationregardingtheFundshallbeattheexpenseoftheManagementCompany.




26





(b)provisionofbrochure“KeyInformationforInvestors”toprospectiveshareholderand




4. Theacceptanceof application for subscription in theFund is decidedby theManagementCompany inaccordancewiththetermsofitsProspectus.






10. Thesharesshallberedeemedatthepriceofshareredemptiononthedateofsubmissionoftheshareholder’sapplicationforredemption.Thispriceshallbedetermined,accordingtoarticle6ofpresentProspectus,onthebasisoftheassetvalueofthesameday.









27






ShareClass A E I Z


2,25% 3,00% 0,75% 0,00%

(ab)Forallshareclassesthevariablemanagementfeeofamaximumof15%ofanypositivedifferencebetweenperformanceofnetassetvaluepershareandperformanceoftheFTSEWorldEuropeIndex(benchmark),ofthesameperiod.Theperformanceofthenetassetvaluepershare,definedastheratioof thedifferenceof theshareprice in relation to thesharepriceon the lastbusinessdayofthepreviousyear,iscomparedwiththeperformanceofthebenchmark,definedastheratioofthedifferenceofthebenchmarkvalueinrelationtothebenchmarkvalueonthelastbusinessdayofthepreviousyear.Inthecaseofapositivedifference,afeeiscalculated,equalto15%ofthisdifferenceontheaveragedailynetassetsoftheFund.Aprovisionforthisfeeshallbeaccounteddailyandwillbepayableattheendofeachcalendaryear.


b) TheCustodianreceivesafeeofupto0,30%perannum,attheendofeachcalendarmonth,calculatedontheaveragedailyvaluationofFund’snetassets,realizedthesaidmonth.ThisfeeincludesthefeeofanythirdpersonwhichhascustodyofallorpartofFund’sassets.

c) Thecertifiedauditor’sfeewhoauditsFund’sreportsinaccordancewiththeprovisionsofarticle77ofLaw4099/2012.



f) TheexpensesrelatingtocompulsorybylawinformationofFund’sshareholders.









(a)ifitscertificationofincorporationisrevokedbytheCapitalMarketCommission.


28

(c)followingdecisionofitsshareholder’smeeting








29








1. TheManagementCompanyestablishedaMutualFundunderthename:«MIDLANDHELLENOBRETANNIKIMONEYMARKETFUND»,whichunderdecisionno37/21.9.1997ofCapitalMarketCommissionwasrenamed“MIDLANDHELLENOBRETANNIKIDOMESTICMONEYMARKETFUND”.Afterdecisionno97/10.12.1998ofCapitalMarketCommissionitwasrenamed“MIDLANDDOMESTICMONEYMARKETFUND”,afterdecisionno171/30.3.2000ofCapitalMarketCommissionitwasrenamed“HSBCGREEKMONEYMARKETFUND”,afterdecisionno148/9.2.2004ofCapitalMarketCommissionitwasrenamed“HSBCGLOBALSTRATEGYINTERNATIONALBALANCEDFUND”,thenafterdecisionno663/29.12.2004ofCapitalMarketCommission(Government Gazette B’ 1982/31.12.2004) it was renamed “HSBCGREEK BALANCED FUND” and afterdecisionno107/11.07.2011ofCapitalMarketCommissionitwasrenamed“HSBCBALANCEDFUND”.Finally,under decision no 170/14.5.2013 of Capital Market Commission it was renamed «TRITON BALANCED FUND», and will be referred as the «Fund», with an initial capital of two hundredmillion (200,000,000)drachmas(586.940,57euros),governedbyprovisionsoftheLaw4099/2012astheyapplyeachtimeandbypresentRegulation.







8. SubscriptiontotheFundshallbeestablishedbyregisteringrelevantsharesandbeneficiary’s(orbeneficiaries)

TRITON Balanced Fund


30

TRITONBalancedFund

informationinManagementCompany’sspecificelectronicrecords.Theabovementionedelectronicrecord-keepingmaybeassignedbytheManagementCompanytoathirdpartyincompliancewithprovisionsofarticle22ofLaw4099/2012.















1. TheFund’sobjectiveistoachievelong-termreturnsfromcapitalgrowthandincome.

31

TRITONBalancedFund

2. The investmentpolicyof theFundshallbeachieved throughadiversifiedportfolio,mainly incompaniesstocks,bondsissuedbygovernments,bodies,banksandundertakingsaswellasmoneymarketinstrumentsanddepositsandshallcoveratleasttenpercent10%ofitsnetassetsinstocksandatleasttenpercent10%ofitsnetassetsinbonds.Themaximumamountinvestedinstocksorbondsordepositsandmoneymarketinstrumentsmustnotexceedsixtyfivepercent(65%)ofitsnetassets.TheFundmayvarytheproportionsof stocks, bonds or reserve securitieswith the criterion of optimal performance in relation to risk taken.TheFund’sinvestmentpolicydoesnotfollowspecificgeographicalrestrictionsorapredeterminedweight’smodelsofinvestmentallocation.



5. BasedonFund’spursuedinvestmentpolicy,itsdegreeofriskischaracterizedasmedium.

6. TheFundisdesignedforinvestorsseekingabalancedportfolioconsistingprimarilyofstocks,bondsanddepositswithnofurtherneedtoinvestinothermutualfunds.Ittargetsmediumtolongterminvestors,andhasnotimecommitment.



1.TheFund’sinvestmentsshallsolelyconsistof:






ea) suchotherundertakingsforcollectiveinvestmentareauthorizedunderlawswhichprovidethattheyaresubjecttosupervisionconsideredbyCapitalMarketCommissiontobeatleastequivalenttothatlaiddowninCommunity law,andprovidedthatCapitalMarketCommissionhasconcludedcooperationagreementswiththecorrespondingsupervisoryauthorityfortheexchangeofconfidentialinformation,


32

TRITONBalancedFund



f) depositswithcreditinstitutionswhicharerepayableondemandortimedepositsmaturinginnomorethantwelve(12)months,providedthatthecreditinstitutionhasitsregisteredofficeinamemberstateor,ifthecreditinstitutionhasitsregisteredofficeinathirdcountry,providedthatitissubjecttosupervisoryrulesconsideredasequivalenttothoselaiddownbyCommunitylaw.ThirdcountriesreferredhereinshallbedeterminedfromtimetotimebydecisionoftheCapitalMarketCommission,followingconsultationswiththeBankofGreece.















33

TRITONBalancedFund









a)tenpercent (10%)ofFund’snetassetswhen thecounterparty isacredit institution referred to in f)ofparagraph1ofarticle4ofRegulation,and




b)depositsmadewithsuchbody,and/or

c)exposuresarisingfromOTCderivativetransactionsundertakenwithsuchbody.



11. Companieswhicharepartofthesamegroupforthepurposesoftheestablishmentofconsolidatedaccounts,

34

TRITONBalancedFund

asdefinedinaccordancewithprovisionsofc.l.2190/1920andDirective83/349/EEC(EUL193/18.7.1983)orinaccordancewithrecognizedinternationalaccountingrules,areregardedasasinglebodyforthepurposeofcalculatingthelimitscontainedinprovisionsofparagraph8andinitema)ofparagraphs8and9ofpresentarticle.Within the limit set inparagraph 1of thisarticle, regarding theFund’s investments in transferablesecuritiesandmoneymarket instrumentsof thesame issuer, theFundmaynot invest in totalmore thantwentypercent(20%)ofitsnetassetsintransferablesecuritiesormoneymarketinstrumentsofcompaniesofthesamegroup.TheManagementCompanymustincludeintheFund’sprospectusanditsannualandsemi-annualreportsaspecialreferencetoitsinvestmentincompaniesofthesamegroup.





b)tenpercent(10%)ofthenon-votingstocksofanysingleissuingbody,


d)tenpercent(10%)ofthemoneymarketinstrumentsofanysingleissuingbody,


Thelimitslaiddowninc),d)ande)ofthisparagraphmaybedisregardedatthetimeofacquisitionifatthattimethegrossvalueofthebondsormoneymarketinstrumentsorthenetvalueofthesharesofmutualfundsorothercollectiveinvestmentundertakingscannotbecalculated.







2. ThedeterminationofFund’snetassetvalueshallbedeterminedpursuant to therulesof thisarticle.The

35

TRITONBalancedFund

valueoftheFund’snetassetsisdeterminedbydeductingthefeesandcommissionsoftheManagementCompany,theCustodianandthemembersofregulatedmarkets,theexpensesofmandatorypublicationsasperLaw4099/2012,theexpensesincurredbytheFundunderitsRegulationandtheprofitsdistributedtoshareholdersatthevaluationof31Decemberofeachyear.WiththeexceptionofmandatorypublicationsasperLaw4099/2012,anyotherpublicationregardingtheFundshallbeattheexpenseoftheManagementCompany.







(b)provisionofbrochure“KeyInformationforInvestors”toprospectiveshareholder.





5.UponManagementCompany’sacceptanceofapplication,theissueofcorrespondingsharesisbasedontheassetvaluepershareonthedayofsubmissionoftheapplication,pursuanttoarticle6ofthepresent,providedthatfullvalueofshareshasbeenpaidtotheCustodian.







12. The Management Company has the right, in exceptional cases, where circumstances so warrant andwherethebestinterestsoftheshareholderssodictateandwiththepriorauthorizationoftheCapitalMarketCommission,tosuspendtheredemptionofthesharesforuptothreemonths,whichmaybeextendedfor

36

TRITONBalancedFund

threemoremonthsatmaximum.ThesuspensionofredemptionandtheexpiryorrevocationthereofshallbepostedonManagementCompany’swebsite.Thenoticeofsuspensionofredemptionshallalsodeterminetheexpirythereof.Noapplicationforredemptionmaybesubmittedbyshareholdersduringthesuspensionofredemptionofshares.











ShareClass A E I Z


1,25% 1,50% 0,50% 0,00%

(ab)Forallshareclassesthevariablemanagementfeeofamaximumof15%ofanypositivedifferencebetweennetassetvaluepershareintheendofeachquarterandhighestnetassetvaluepershareintheendofallpreviousquartersofthesameyearaswellasofyear’send.Aprovisionforthisfeeshallbeaccounteddailyandshallbecollectedattheendofeachquarter.


b) TheCustodianreceivesafeeofupto0.10%perannum,attheendofeachcalendarmonth,calculatedontheaveragedailyvaluationofFund’snetassets,realizedthesaidmonth.ThisfeeincludesthefeeofanythirdpersonwhichhascustodyofallorpartofFund’sassets.


d) ThefeesandcommissionsontransactionsincurredonbehalfoftheFund.

e) ThecostsofprojectedpublicationsasperLaw4099/2012,madeonbehalfoftheFund.


g) ThetaxesandlevieschargedtotheFundatanytime.



2. Theprofitsfromthesaleoffundassetsmaybereinvestedordistributedtoshareholdersatthediscretionof

37

theManagementCompany,totheextentthattheyarenotcompensatedbycapitallossespossiblyincurredbytheendoftheperiod.





(a)ifitscertificationofincorporationisrevokedbytheCapitalMarketCommission,

(b)uponredemptionofitstotalshares,








TRITONBalancedFund

38


1. TheManagementCompanyistheincorporatedcompanyunderthename“TRITON ASSET MANAGEMENT SA MUTUAL FUNDS COMPANY” withregisteredofficeinAthens,fromhereon“theManagementCompany”,incorporatedandoperatingunderauthorization76/26.3.1991oftheHellenicCapitalMarketCommission.






1. TheManagementCompanyestablishedaMutualFundunderthename:«MIDLANDHELLENOBRETANNIKIINCOME FUND», which under decision no 37/21.9.1997 of Capital Market Commission was renamed“MIDLANDHELLENOBRETANNIKIDOMESTICBONDINCOMEFUND”afterdecisionno.97/10.12.1998ofCapitalMarketCommissionwasrenamed“MIDLANDDOMESTICBONDINCOMEFUND”afterdecisionno.174/3.5.2000ofCapitalMarketCommissionwasrenamed“HSBCGREEKBONDFUND”then,afterdecisionno.107/11.07.2011ofCapitalMarketCommissionwasrenamed“HSBCINCOMEEUROBONDDEVELOPEDCOUNTRIESFUND”.Finally,underdecisionno170/14.5.2013ofCapitalMarketCommissionitwasrenamed«TRITON INCOME EURO BOND DEVELOPED COUNTRIES FUND»,andwillbereferredtoasthe«Fund»,with an initial capital of three hundredmillion (300,000,000) drachmas (880,410.86 euros), governed byprovisionsoftheLaw4099/2012astheyapplyeachtimeandbypresentRegulation.








TRITON Income Euro BondDeveloped Countries Fund


39

TRITONIncomeEuroBondDevelopedCountriesFund















1. TheFund’sobjectiveistoachieveprimarilyincomeandsecondarilycapitalgrowth,byinvestingmainlyindebtsecurities.

2. TheinvestmentpolicyoftheFundshallbeachievedthroughadiversifiedportfolio,mainlyineurodenominatedbondsissuedbymemberstatesoftheEuropeanUnionand/orinternationalbodies.AdditionallytheFundmayinvestineurobondsofbodies,banksandundertakingsissuedbyissuershavingtheirregisteredofficeintheEuropeanUnion.Theseinvestmentsrepresentaminimumofsixtyfivepercent(65%)ofitsnetassets.TheFundmaysecondarilyinvestnomorethantenpercent(10%)ofitsnetassetsinequitysecuritiesalso.

40




5. BasedonFund’spursuedinvestmentpolicy,itsdegreeofriskischaracterizedasmedium.

6. TheFund is designed for investorswhowishing to achieve incomeand capital growth,while taking theinvestmentriskofbondsmarket.Itsperformancemayfluctuate,sincethebondscontainedintheportfolioarevaluatedatmarketpricesandtheirvalueisinfluencedbytheinterestratestrend.Ittargetsmediumtolongterminvestors,andhasnotimecommitment.






c) transferablesecuritiesandmoneymarket instrumentsadmittedtoastock-exchangeinanon-memberstate or dealt in on another regulatedmarket in a non-member state, which is supervised, operatesregularlyandisrecognizedandopentothepublic.ThestockexchangesandmarketsreferredtoshallbedeterminedbydecisionoftheCapitalMarketCommission.



ea) suchotherundertakingsforcollectiveinvestmentareauthorizedunderlawswhichprovidethattheyaresubjecttosupervisionconsideredbyCapitalMarketCommissiontobeatleastequivalenttothatlaiddowninCommunity law,andprovidedthatCapitalMarketCommissionhasconcludedcooperationagreementswiththecorrespondingsupervisoryauthorityfortheexchangeofconfidentialinformation.




41









hb) issuedbyanundertakingentityofwhichanytransferablesecuritiesaredealtinonregulatedmarketsreferredtoincases(a),(b)or(c)ofthisparagraph,or

hc) issued or guaranteed by an establishment subject to prudential supervision, in accordancewithcriteriadefinedbyCommunity law,orbyanestablishmentwhich issubject toandcomplieswithprudentialrulesconsideredatleastequivalentasthoselaiddownbyCommunitylaw;or









42



3. TheFund’s total investment insharesorstocksofUCITSorotherundertakings forcollective investmentreferredtoincasee)ofparagraph1inarticle4ofpresentRegulation,maybenomorethantenpercent(10%)of itsnetassets.Tocalculate the investment limitsunder thisparagraph3,accountshallnotbetakenofinvestmentsmadebyUCITSorotherundertakingsforcollectiveinvestment,ofwhichtheFundhasobtainedshares.












10. Aggregateinvestmentsintransferablesecuritiesandmoneymarketinstruments,asreferredtoinparagraph5ofthisarticle,mayincreaseuptoonehundredpercent(100%)oftheFund’snetassets,providedthat:

(a)theFundholdstransferablesecuritiesandmoneymarketinstrumentsfromatleastsix(6)differentissues,andsecuritiesfromoneissuemaynotexceedthirtypercent(30%)ofitstotalnetassetsand

b)theStatesandpublicinternationalbodiestowhichoneormorememberstatesbelongandwhichareissuingorguaranteeingsecuritiesandmoneymarket instruments inwhich theFund intends to investmorethanthirty fivepercent(35%)of itsnetassetsarethefollowing:memberstatesof theEuropeanUnion,OECDcountries,publicinternationalbodiesastheIMF,WTO,EDF,EIF,EIB,IBRD,EBRD.

11. Companieswhicharepartof thesamegroup for thepurposesof theestablishmentofconsolidatedaccounts,asdefined inaccordancewithprovisionsofc.l.2190/1920andDirective83/349/EEC(EUL193/18.7.1983)orinaccordancewithrecognizedinternationalaccountingrules,areregardedasasingle

43


bodyforthepurposeofcalculatingthelimitscontainedinprovisionsofparagraph8andinitema)ofparagraphs8and9ofpresentarticle.Within the limitset inparagraph1of thisarticle, regarding theFund’s investments in transferable securitiesandmoneymarket instrumentsof the same issuer, theFundmaynotinvestintotalmorethantwentypercent(20%)ofitsnetassetsintransferablesecuritiesormoneymarketinstrumentsofcompaniesofthesamegroup.TheManagementCompanymustincludeintheFund’sprospectusanditsannualandsemi-annualreportsaspecialreferencetoitsinvestmentincompaniesofthesamegroup.





b) tenpercent(10%)ofthenon-votingstocksofanysingleissuingbody,


d) tenpercent(10%)ofthemoneymarketinstrumentsofanysingleissuingbody,


Thelimitslaiddowninc),d)ande)ofthisparagraphmaybedisregardedatthetimeofacquisitionifatthattimethegrossvalueofthebondsormoneymarketinstrumentsorthenetvalueofthesharesofmutualfundsorothercollectiveinvestmentundertakingscannotbecalculated.







2. ThedeterminationofFund’snetassetvalueshallbedeterminedpursuanttotherulesofthisarticle.ThevalueoftheFund’snetassetsisdeterminedbydeductingthefeesandcommissionsoftheManagement

44


Company,theCustodianandthemembersofregulatedmarkets,theexpensesofmandatorypublicationsasperLaw4099/2012,theexpensesincurredbytheFundunderitsRegulationandtheprofitsdistributedtoshareholdersatthevaluationof31Decemberofeachyear.WiththeexceptionofmandatorypublicationsasperLaw4099/2012,anyotherpublicationregardingtheFundshallbeattheexpenseoftheManagementCompany.



















12. The Management Company has the right, in exceptional cases, where circumstances so warrant andwherethebestinterestsoftheshareholderssodictateandwiththepriorauthorizationoftheCapitalMarketCommission,tosuspendtheredemptionofthesharesforuptothreemonths,whichmaybeextendedforthreemoremonthsatmaximum.Thesuspensionofredemptionandtheexpiryorrevocationthereofshallbe

45


postedonManagementCompany’swebsite.Thenoticeofsuspensionofredemptionshallalsodeterminetheexpirythereof.Noapplicationforredemptionmaybesubmittedbyshareholdersduringthesuspensionofredemptionofshares.









a) ForthemanagementoftheMutualFund,theManagementCompanyreceivesafixedmanagementfeeamountinginannualpercentageonthenetassetvalueoftheMutualFunduptothepercentagedefinedinthebelowtable,foreachshareclass.ThisfeeiscalculatedandcollectedmonthlyontheaveragedailyvaluationoftheMutualFund’snetassets,realizedthesaidmonth.Thisfeeincludesanypaidfeetotheinvestmentadvisorand/ortheFundmanagerwhomayhavebeenassignedtorelevantduties.

ShareClass A E I Z

MaximumpercentageoffixedManagementfeeperannum:

1,25% 1,30% 0,35% 0,00%

b)TheCustodianreceivesafeeofupto0.10%perannum,attheendofeachcalendarmonth,calculatedontheaveragedailyvaluationofFund’snetassets,realizedthesaidmonth.ThisfeeincludesthefeeofanythirdpersonwhichhascustodyofallorpartofFund’sassets.











46













47








1. The Management Company established a Mutual Fund under the name: «MIDLAND HELLENOBRETANNIKILIQUIDITYFUND»,whichunderdecisionno37/21.9.1997ofCapitalMarketCommissionwasrenamed“MIDLANDHELLENOBRETANNIKIDOMESTICLIOQUIDITYFUND”afterdecisionno.97/10.12.1998ofCapitalMarketCommissionwasrenamed“MIDLANDDOMESTICLIQUIDITYFUND”afterdecisionno.171/30.3.2000ofCapitalMarketCommissionwasrenamed“HSBCGREEKLIQUIDITYFUND”afterdecisionno.107/11.07.2011ofCapitalMarketCommissionwasrenamed“HSBCMONEYMARKETEUROSHORTTERMFUND”.Finally,underdecisionno170/14.5.2013ofCapitalMarketCommission itwas renamed «TRITONMONEYMARKETEUROSHORTTERMFUND», afterdecisionno170/14.5.2013ofCapitalMarketCommissionitwasrenamed«TRITONMONEYMARKETEUROSHORTTERMFUND».Finally,afterdecisionno250/9.12.2015ofCapitalMarketCommissionitwasrenamed«TRITON MONEY MARKET EURO FUND»,andwillbereferredtoasthe«Fund»,withaninitialcapitaloftwohundredmillion(200,000,000)drachmas(586.940,57euros),governedbyprovisionsoftheLaw4099/2012astheyapplyeachtimeandbypresentRegulation.








TRITON Money Market Euro Fund


48

TRITONMoneyMarketEuroFund















1. The Fund’s objective is to preserve for the shareholder the value of his initial capital and to provideperformancessimilartothoseoftheeuromarketsyields.

2. TheFund’sinvestmentpolicyisachievedthroughadiversifiedportfolio,mainlyindepositsandshorttermmoneymarket instruments.Theseinvestmentsrepresentaminimumofsixtyfivepercent(65%)of itsnetassets.Additionally, itcaninvest indebit titleswithremaininglifeuptotwo(2)years,aswellas inGreekGovernmentBonds.TheFund’sportfoliohasaweightedaveragematurity(WAM)uptosix(6)monthsandaweightedaveragelife(WAL)uptotwelve(12)months.

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3. Forinvestmentpolicypurposesandinordertoachieveitsobjective,theFund’sassetsmayalsobeinvestedinderivativefinancialinstrumentsthatcomplywithitsinvestmentpolicy,underprovisionsofarticle60ofLaw4099/2012andCapitalMarketCommission’sdecisionsasinforce.

4. TheManagementCompanymayuseinstrumentsandtechniquesrelatingtotransferablesecurities,moneymarket instruments andderivative financial instruments for efficient Fund’s portfoliomanagement and/orhedging. Throughsuchoperations theFundmaynotdeviate from its investmentsobjectivesasdefinedinpresentRegulation. TheFundmay invest indebt securitiesdenominated inacurrencyother than thebasecurrencyof theFund (non-basecurrencysecurities),provided that theexposure incurrency is fullyhedged.Thereforeandforhedgingpurposes,itmayinvestinunderlyingcurrency-basedfinancialderivativeinstruments.

5. BasedonFund’spursuedinvestmentpolicy,itsdegreeofriskischaracterizedaslow.

6. TheFundisdesignedforinvestorsseekingsatisfactoryyieldsfortheircashandforundertakingsandinstitutionswhichinvesttheircashliquidity.Itisalsosuitableforinvestorswitharelativelyshortterminvestmenthorizon.



1. TheFundcannotinvestdirectlyorindirectlyinstocksorcommoditiesnorinfinancialderivativeinstrumentswithunderlyingstocksorcommodities.

2.TheFund’sinvestmentsshallsolelyconsistof:

a) Depositswithcredit institutionswhicharerepayableondemandortimedepositsmaturinginnomorethantwelve(12)months,providedthatthecreditinstitutionhasitsregisteredofficeinamemberstateor,ifthecreditinstitutionhasitsregisteredofficeinathirdcountry,providedthatitissubjecttoprudentialrulesconsideredasequivalenttothoselaiddownbyCommunitylaw.ThirdcountriesreferredhereinshallbedeterminedfromtimetotimebydecisionoftheCapitalMarketCommission,followingconsultationswiththeBankofGreece.

b)GreekGovernmentBonds.

c) Debtsecurities,withremaininglifeuptotwo(2)yearsandtheremainingperioduntilthenextdateofrevaluationoftheinterestrate,linkedtotheinterestrateofmoneymarketinstrumentsorindex,doesnotexceedthreehundredninetyseven(397)days,providedthat:

ca)areacceptedand/ortradedonaregulatedmarketwithinthemeaningofparagraph10ofArticle2ofN.3606/2007,asamended,andthecorrespondingprovisionsofthenationallawsoftheMemberStates,whichareharmonizedtotheprovisionofcase14para.1ofArticle4ofDirective2004/39/EC,asamended,or

cb)tradedinanotherMemberState,regulated,operatingregularlyandisrecognizedandopentothepublic,or

cc)aretradedonthestockexchangevaluesofathirdState,ortoanotherthirdcountrymarket,regulated,operatingregularlyandisrecognizedandopentothepublicinaccordancewithrelevantdecisionsoftheCapitalMarketCommission.

d)Moneymarketinstrumentsofcasexvi)ofarticle3ofLaw4099/2012,exceptthosedealtinonaregulatedmarket,iftheissueorissuerofsuchinstrumentsisitselfregulatedforthepurposeofprotectinginvestorsandtheirsavings,andprovidedthattheyare:

da)issuedorguaranteedbyacentral,regionalorlocalauthority,byacentralbankofamemberstate,theEuropeanCentralBank,theEuropeanUnion,theEuropeanInvestmentBank,athirdcountryor,inthecaseofaFederalState,byoneofitsmembers,orbyapublicinternationalbodytowhichoneormorememberstatesbelong,or

db)issued by an undertaking of which any transferable securities are dealt in on regulatedmarketsreferredtoincases(ca),(cb)or(cc)oftheparagraph2ofthepresentarticle,or

dc)issued or guaranteed by an entity subject to prudential supervision, in accordance with criteriadefinedbyCommunitylaw,orbyanestablishmentwhichissubjecttoandcomplieswithprudentialrulesconsideredatleastequivalentasthoselaiddownbyCommunitylaw;or

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dd)issuedbyotherentitiesbelonging to thecategoriesspecifiedby theCapitalMarketCommissionprovidedthatinvestmentsinsuchinstrumentsaresubjecttoinvestorprotectionatleastequivalenttothatlaiddowninda),db)ordc)ofpresentcaseandprovidedthattheissueris:




Inordertoconsideramoneymarketinstrumentasofhighquality,theManagementCompanymusttakeintoconsideration:

(a)theinvestmentgradeofthemoneymarketinstrument,

(b)thecharacteristicsofassetscategoryinwhichthemoneymarketinstrumentbelongs,

(c)theoperationalriskandthecounterpartyriskinvolvedinthetransaction, inrelationtocomplexfinancialinstrumentsand,

(d)thedegreeofliquidity.

(e)UCITS Money Market shares and Short TermMoney Market shares authorized according toLaw4099/2012 orDirective 2009/65/EK,which complywith the relevant provisionsofCESR’sguidelines.

(f)financialderivateinstruments,includingequivalentcash-settledinstruments,dealtinonaregulatedmarketreferredto(ca),(cb)and(cc)ofthisparagraph2orfinancialderivativeinstrumentsdealtinover-the-counter(“OTCderivatives”),providedthat:

(fa)theunderlyingofthefinancialderivateinstrumentconsistsofanyoftheinstrumentsreferredto in this paragraph, financial indices, interest rates, foreign exchange rates or currencies,comprisedinFund’sinvestmentobjectivesasstatedinthepresentRegulation,

(fb)thecounterpartiestoOTCderivativetransactionsarefinancialinstitutionssubjecttoprudentialsupervisionasperthesetransactions,andbelongingtothecategoriesspecifiedbytheCapitalMarketCommission,and,

(fc)theOTCderivativesaresubjecttoreliableandverifiablevaluationonadailybasisandcanbesold,liquidatedorclosedbyanoffsettingtransactionatanytimeattheirfairvalueattheFund’sinitiative,

3. TheFundmayinvestnomorethantenpercent(10%)ofitsnetassetsintransferablesecuritiesandmoneymarketinstruments,otherthanthosereferredtoinparagraph2.

4.TheFundmaynotacquireeitherpreciousmetalsorcertificatesrepresentingthem.


1. TheFund’sportfoliohasaweightedaveragematurity(WAM)ofuptosix(6)monthsandaweightedaveragelife(WAL)uptotwelve(12)months.Theseindexesarecalculatedaccordingtothefollowingdefinitionsandmethodology:

(a)Theweightedaveragematurity(WAM)istheaveragematurityofalltheunderlyingdebtsecuritiesinwhichthefund’sassetsareinvested,weightedbytheamountinvestedinthem.

(b)Thematurityofafloatingratefinancialinstrumentisthetimeremaininguntilitsnextraterevaluation.

(c)Theweightedaveragelife(WAL)istheaverageremaininglifeofalltheunderlyingsecuritiesinwhichthefund’sassetsareinvested,weightedbytheamountinvestedinthem.

(d)The remaining life is the remaining timeuntil full repayment (maturity)ofeach title. If themutual fund

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comprises in itsportfoliocallablebonds, forwhich the issuerhas the rightof redemptionbefore theirmaturity,inordertocalculatetheportfolio’sweightedaveragelife,asremaininglifeofthesesecuritiesisconsideredtheoneuntiltheirprojecteddateofrepayment.

(e)Theimpactoffinancialderivativeinstruments,depositsandefficientportfoliomanagementtechniquesmustbetakenintoaccountinordertocalculatetheweightedaveragematurityandtheweightedaveragelifeoftheportfolio.

(f) IftheFund’sportfoliocomprisescomplexfinancialinstrumentssuchasputoption,theexercisedateshallbetheoneusedtocalculatetheportfolio’sweightedaveragelife.



4. TheFund’s total investment insharesorstocksofUCITSorotherundertakings forcollective investmentreferredto incasee)ofparagraph2inarticle4ofpresentRegulation,maybenomorethantenpercent(10%)ofitsnetassets.Tocalculatetheinvestmentlimitsunderthisparagraph4,accountshallnotbetakenofinvestmentsmadebyUCITSorotherundertakingsforcollectiveinvestment,ofwhichtheFundhasobtainedshares.


6. Notwithstandingparagraph2ofthisarticle,theFundmayinvestnomorethanthirty-fivepercent(35%)ofitsnetassetsintransferablesecuritiesandmoneymarketinstrumentsofthesameissuer,ifthetransferablesecuritiesormoneymarketinstrumentsareissuedorguaranteedbyamemberstateorthirdcountries,asdefinedbyCapitalMarketCommission, orbypublic international bodiesofwhichoneormorememberstatesaremembers.


a) tenpercent(10%)ofFund’snetassetswhenthecounterparty isacredit institutionreferredto ina)ofparagraph2ofarticle4ofRegulation,and

b)fivepercent(5%)ofFund’snetassets,inallothercases.







11. Companieswhicharepartofthesamegroupforthepurposesoftheestablishmentofconsolidatedaccounts,

52


asdefinedinaccordancewithprovisionsofc.l.2190/1920andDirective83/349/EEC(EUL193/18.7.1983)orinaccordancewithrecognizedinternationalaccountingrules,areregardedasasinglebodyforthepurposeofcalculatingthelimitscontainedinprovisionsofparagraph8andinitema)ofparagraphs8and9ofpresentarticle.Within the limitset inparagraph2of thisarticle, regarding theFund’s investments in transferablesecuritiesandmoneymarket instrumentsof thesame issuer, theFundmaynot invest in totalmore thantwentypercent(20%)ofitsnetassetsintransferablesecuritiesormoneymarketinstrumentsofcompaniesofthesamegroup.TheManagementCompanymustincludeintheFund’sprospectusanditsannualandsemi-annualreportsaspecialreferencetoitsinvestmentincompaniesofthesamegroup.


a)tenpercent(10%)ofthetotalbondsofanysingleissuingbody,

b)tenpercent(10%)ofthemoneymarketinstrumentsofanysingleissuingbody,

c)twenty-fivepercent(25%)ofthesharesofanysinglemutualfundorothercollectiveinvestmentundertakingwithinthemeaningofcaseeofparagraph2ofarticle4ofpresentRegulation.

Thelimitslaiddownina),b)andc)ofthisparagraphmaybedisregardedatthetimeofacquisitionifatthattimethegrossvalueofthebondsormoneymarketinstrumentsorthenetvalueofthesharesofmutualfundsorothercollectiveinvestmentundertakingscannotbecalculated.

13. Therestrictionslaiddowninparagraph12ofthisarticleshallnotapplytotransferablesecuritiesandmoneymarketinstrumentsreferredtoinparagraphs6and10ofarticle5,aswellastostocksinacompanyregisteredin a third country,whereunder the legislationof that country suchaholding represents theonlyway toinvestinthesecuritiesofissuingbodiesofthatcountry,providedthatinitsinvestmentpolicythiscompanycomplieswiththelimitslaiddowninprovisionsofpresentarticle.





1. ThenetassetsoftheFund,thenumberofitsshares,thenetassetvaluepershare,theofferpriceandtheredemptionpriceshallbecalculatedeverybusinessday,andshallbepostedonManagementCompany’swebsite.

2. ThedeterminationofFund’snetassetvalueshallbedeterminedpursuanttotherulesofthisarticle.ThevalueoftheFund’snetassetsisdeterminedbydeductingthefeesandcommissionsoftheManagementCompany,theCustodianandthemembersofregulatedmarkets, theexpensesofmandatorypublicationsasperLaw4099/2012,theexpensesincurredbytheFundunderitsRegulationandtheprofitsdistributedtoshareholdersatthevaluationof31Decemberofeachyear.WiththeexceptionofmandatorypublicationsasperLaw4099/2012,anyotherpublicationregardingtheFundshallbeattheexpenseoftheManagementCompany.



5. ThesubscriptionandredemptionpriceoftheMutualFund’ssharemayexceedorfallshort,respectively,of

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thenetpricepersharebytherateoftherelevantsubscriptionorredemptioncommissionoftheManagementCompany,accordingtoarticle8ofpresentRegulation.





















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a) ForthemanagementoftheMutualFund,theManagementCompanyreceivesafixedmanagementfeeamountinginannualpercentageonthenetassetvalueoftheMutualFunduptothepercentagedefinedinthebelowtable,foreachshareclass.ThisfeeiscalculatedandcollectedmonthlyontheaveragedailyvaluationoftheMutualFund’snetassets,realizedthesaidmonth.Thisfeeincludesanypaidfeetotheinvestmentadvisorand/ortheFundmanagerwhomayhavebeenassignedtorelevantduties.

ShareClass A E I Z

MaximumpercentageoffixedManagementfeeperannum:

1,00% 1,10% 0,35% 0,00%

b)TheCustodianreceivesafeeofupto0.10%perannum,attheendofeachcalendarmonth,calculatedontheaveragedailyvaluationofFund’snetassets,realizedthesaidmonth.ThisfeeincludesthefeeofanythirdpersonwhichhascustodyofallorpartofFund’sassets.


















2. IntheeventofdissolutionoftheFund,thedistributionofitsassetsshallbemadebytheCustodianbyorder

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of theManagementCompany. On conclusion of the distribution of the Fund’s assets, a special reportshallbeprepared,whichshallalsobesignedbytheManagementCompany,theCustodianandacertifiedauditor.ThereportshallbeforthwithforwardedtotheCapitalMarketCommissionandshallbepostedtotheManagementCompany’swebsiteandshallbemadeavailabletotheFund’sshareholders,atthepointsofsaleofitsshares.




MUTUAL FUNDS DO NOT HAVE A GUARANTEED RETURN AND PREVIOUS PERFORMANCE DOES NOT GUARANTEE FUTURE PERFORMANCE

MUTUAL FUND

MANAGEMENT CO. S.A.

15, Valaoritou str, Athens 106 71

Tel: 216 5001 800 • Fax: 210 3643 855

www.triton-am.com

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