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

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

TRITON ASSET MANAGEMENT AEDAKRegulations of Mutual Funds

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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. TheCustodian functionsof theMutualFundhavebeenentrusted,underprovisionsofLaw4099/2012, toHSBC BANK PLClegallyoperatinginGreece.

3. Thecustodianmaydelegate,withpriornotificationtotheCapitalMarketCommissionandwiththeconsentoftheManagementCompany,thesafekeepingofallorpartoftheFund’sassetstothirdparties.Thirdpartiesshallmeancredit institutionsorotherorganizationsprovidingcustodianservices,whichare registered inGreeceorothercountriesandaresubjecttosupervisoryrulesbeingatleastequivalenttothoseapplicableinGreece.ThecustodianandthethirdpartyshallbeliabletowardstheshareholdersoftheFundandtheManagementCompany.

4. AcustodianwishingtoresignfromitsdutiesmustnotifytheManagementCompanyatleastthree(3)monthsinadvance.ThenewcustodianshallbeapprovedbytheCapitalMarketCommissionuponManagementCompany’srequest.ThecustodianmayalsobereplaceduponrequestoftheManagementCompanyandafterapprovaloftheCapitalMarketCommission.Followingtheapprovalofthenewcustodian,theresignedorreplacedcustodianshallhandovertheFund’sassetstothenewcustodianaccordingtoprotocol.Theresignedorreplacedcustodianshallcontinueperformingitsdutiesuntilthenewcustodianfullytakesupitsduties. Incaseofresignationorreplacementof thecustodian, theManagementCompanyshallpromptlynotifytheFund’sshareholdersonnewcustodian’sappointment,viadurablemediumandbypostingrelevantinformationonitswebsite.

Article 2. Mutual Fund

1. TheManagementCompanyestablishedamutualfundunderthename“HELLENOBRETANNIKI–GROWTHFUND”, which after decision no 119/25.8.1992 of Capital Market Commission was renamed “MIDLANDHELLENOBRETANNIKI GROWTH FUND”. After decision no 37/21.9.1997 of Capital Market Commissionwasrenamed“MIDLANDHELLENOBRETANNIKIGROWTHDOMESTICEQUITYFUND”afterdecisionno.97/21.9.1998ofCapitalMarketCommissionwasrenamed“MIDLANDGROWTHDOMESTICEQUITYFUND”then,afterdecisionno.174/3.5.2000ofCapitalMarketCommissionwasrenamed“HSBCGROWTHGREEKEQUITY FUND”. Finally, under decision no 170/14.5.2013 ofCapitalMarketCommission it was renamed«TRITON GROWTH GREEK EQUITY FUND», andwillbe referredas the «Fund»,withan initial capitalof threehundredmillion (300,000,000)drachmas (880.410,86euros), governedbyprovisionsof the Law4099/2012astheyapplyeachtimeandbypresentRegulation.

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.

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

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TRITONGrowthGreekEquityFund

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

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)ClassΕshares:ClassEsharesareavailableonlytoinvestorswhotransactwiththeManagementCompanythroughspecificBanks,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.

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2. TheFund’sinvestmentpolicyisachievedthroughadiversifiedportfolio,mainlyingreekcompaniesstocks,listedintheAthensStockExchange.Toachieveitsobjective,theManagementCompanyshallinvestFund’sassets inaportfolioofstockswhich, in itsopinion,offersoptimummedium-termgrowthprospectswhiletryingtobenefitfromshort-termtrendsofthestockmarket.Aboveinvestmentsrepresentaminimumofsixtyfivepercent(65%)ofitsnetassets.

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 and

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annualreportstoenableanassessmentofassetsandliabilities,resultsandoperationsconductedoverthereportingperiod,and,

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

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.

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Article 5. Investment Limits, Risk Allocation

1. TheFundmayinvestnomorethantenpercent(10%)ofitsnetassetsintransferablesecuritiesandmoneymarketinstrumentsofthesameissuer.

2. TheFundmayinvestnomorethanfourtypercent(40%)ofitsnetassetsintransferablesecuritiesandmoneymarketinstrumentsofissuersineachofwhichitinvestsmorethanfivepercent(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,

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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.

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,

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

3. TodeterminethenetassetvaluepershareoftheMutualFund,thetotalvalueofitsnetassetsshallbedividedbythenumberofitsshares.Thenetassetvaluepershareisdeterminedseparatelyforeachshareclass.

4. TheManagementCompanyshallvaluetheFund’sassetsinaccordancewiththeaccountingrulesadoptedbydecisionofCapitalMarketCommission.

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.

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

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:

2,00% 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. Theprofitsfromthesaleoffundassetsmaybereinvestedordistributedtoshareholdersatthediscretionof

10

theManagementCompany,totheextentthattheyarenotcompensatedbycapitallossespossiblyincurredbytheendoftheperiod.

3. In thecaseofdistributionofprofits, theyaredistributed toanyshareholderholdingsharesat theendofmanagementperiodduringwhichtheprofitwasgenerated.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.

2. TheCustodian functionsof theMutualFundhavebeenentrusted,underprovisionsofLaw4099/2012, toHSBCBANKPLClegallyoperatinginGreece.

3. Thecustodianmaydelegate,withpriornotificationtotheCapitalMarketCommissionandwiththeconsentoftheManagementCompany,thesafekeepingofallorpartoftheFund’sassetstothirdparties.Thirdpartiesshallmeancredit institutionsorotherorganizationsprovidingcustodianservices,whichare registered inGreeceorothercountriesandaresubjecttosupervisoryrulesbeingatleastequivalenttothoseapplicableinGreece.Thecustodianandthethirdpartyshallbe liabletowardstheshareholdersof thefundandtheManagementCompany.



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.








TRITON American EquityInternational Fund

GovernmentGazette#B1780/24-09-1999

12

TRITONAmericanEquityInternationalFund

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













Article 3. Mutual Fund’s Objective and Investment Policy

1. TheFund’sobjectiveistoachievelong-termreturnsfromcapitalgrowthbyinvestingprimarilyinstocks.

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

3. TheFundsinvestmentscurrencyisprimarilytheU.S.dollar.

13



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.


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


f) depositswithcredit institutionswhicharerepayableondemandortimedepositsmaturinginnomorethantwelve(12)months,providedthatthecreditinstitutionhasitsregisteredofficeinamemberstateor,

14


ifthecreditinstitutionhasitsregisteredofficeinathirdcountry,providedthatitissubjecttosupervisoryrulesconsideredasequivalenttothoselaiddownbyCommunitylaw.ThirdcountriesreferredhereinshallbedeterminedfromtimetotimebydecisionoftheCapitalMarketCommission,followingconsultationswiththeBankofGreece.








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









2. TheFundmayinvestnomorethanfourtypercent(40%)ofitsnetassetsintransferablesecuritiesandmoneymarketinstrumentsofissuersineachofwhichitinvestsmorethanfivepercent(5%)ofitsnetassets.ThislimitationshallnotapplytodepositsandOTCderivativestransactions.Thetransferablesecuritiesandmoney

15


market instrumentsreferredto inparagraph5and6of thisarticleshallnotbetaken intoaccount for theapplicationofthefourtypercent(40%)limit.







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’sprospectusanditsannualand

16


semi-annualreportsaspecialreferencetoitsinvestmentincompaniesofthesamegroup.




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


4. TheManagementCompanyshallvaluetheFund’sassetsinaccordancewithaccountingrulesadoptedbydecisionofCapitalMarketCommission.





(b)provisionofbrochure“KeyInformationforInvestors”toprospectiveshareholders.





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


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).








18





a)Commissionupto3%onvalueofsoldshares.





ShareClass A E I Z


2,00% 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.




2. TheprofitsfromthesaleoffundassetsmaybereinvestedordistributedtoshareholdersatthediscretionoftheManagementCompany,totheextentthattheyarenotcompensatedbycapitallossespossiblyincurredbytheendoftheperiod.



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.









TRITON Pan-European International Equity Fund


21

TRITONPan-EuropeanInternationalEquityFund












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.


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.




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

23


bedeterminedfromtimetotimebydecisionoftheCapitalMarketCommission,followingconsultationswiththeBankofGreece.










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


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



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.

25





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.



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


2,00% 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.







28



(a)ifitscertificationofincorporationisrevokedbytheCapitalMarketCommission.


(c)followingdecisionofitsshareholder’smeeting








29


1. The incorporated company under the name “TRITON ASSET MANAGEMENT SA MUTUAL FUNDS COMPANY” withregisteredofficeinAthens,whichfromhereonisreferredtoasthe“ManagementCompany”.


3. Thecustodianmaydelegate,withpriornotificationtotheCapitalMarketCommissionandwiththeconsentoftheManagementCompany,thesafekeepingofallorpartoftheFund’sassetstothirdparties.Thirdpartiesshallmeancredit institutionsorotherorganizationsprovidingcustodianservices,whichare registered inGreeceorothercountriesandaresubjecttosupervisoryrulesbeingatleastequivalenttothoseapplicableinGreece.ThecustodianandthethirdpartyshallbeliabletowardstheshareholdersoftheFundandtheManagementCompany.



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.






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

TRITON Balanced Fund


30

TRITONBalancedFund

(exceptA)thepriceofthesharesofthenewclasswillbeidenticaltothepriceofclassAshares.















31

TRITONBalancedFund


1. TheFund’sobjectiveistoachievelong-termreturnsfromcapitalgrowthandincome.

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,

eb) thelevelofprotectionforshareholdersintheotherundertakingsforcollectiveinvestmentisatleast

32

TRITONBalancedFund

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
















33

TRITONBalancedFund











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




b)depositsmadewithsuchbody,and/or

c)exposuresarisingfromOTCderivativetransactionsundertakenwithsuchbody.


10. Aggregateinvestmentsintransferablesecuritiesandmoneymarketinstruments,asreferredtoinparagraph5ofthisarticle,mayincreaseuptoonehundredpercent(100%)oftheFund’snetassets,providedthat:(a)theFundholdstransferablesecuritiesandmoneymarketinstrumentsfromatleastsix(6)differentissues,andsecuritiesfromoneissuemaynotexceedthirtypercent(30%)ofitstotalnetassetsandb)theStates

34

TRITONBalancedFund

and 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.






b)tenpercent(10%)ofthenon-votingstocksofanysingleissuingbody,


d)tenpercent(10%)ofthemoneymarketinstrumentsofanysingleissuingbody,


Thelimitslaiddowninc),d)ande)ofthisparagraphmaybedisregardedatthetimeofacquisitionifatthattimethegrossvalueofthebondsormoneymarketinstrumentsorthenetvalueofthesharesofmutualfundsorothercollectiveinvestmentundertakingscannotbecalculated.





35

TRITONBalancedFund



2. ThedeterminationofFund’snetassetvalueshallbedeterminedpursuant to therulesof thisarticle.ThevalueoftheFund’snetassetsisdeterminedbydeductingthefeesandcommissionsoftheManagementCompany,theCustodianandthemembersofregulatedmarkets,theexpensesofmandatorypublicationsasperLaw4099/2012,theexpensesincurredbytheFundunderitsRegulationandtheprofitsdistributedtoshareholdersatthevaluationof31Decemberofeachyear.WiththeexceptionofmandatorypublicationsasperLaw4099/2012,anyotherpublicationregardingtheFundshallbeattheexpenseoftheManagementCompany.







(b)provisionofbrochure“KeyInformationforInvestors”toprospectiveshareholder.





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






11. Thevalueoftheredeemedfundsharesshallbepaidincashwithinfive(5)businessdaysofthesubmission

36

TRITONBalancedFund

oftheapplicationforshareredemption.












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.

37








(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.







8. SubscriptiontotheFundshallbeestablishedbyregisteringrelevantsharesandbeneficiary’s(orbeneficiaries)

TRITON Income Euro BondDeveloped Countries Fund


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TRITONIncomeEuroBondDevelopedCountriesFund

informationinManagementCompany’sspecificelectronicrecords.Theabovementionedelectronicrecord-keepingmaybeassignedbytheManagementCompanytoathirdpartyincompliancewithprovisionsofarticle22ofLaw4099/2012.















1. TheFund’sobjectiveistoachieveprimarilyincomeandsecondarilycapitalgrowth,byinvestingmainlyindebtsecurities.

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



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.


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

41


overthereportingperiod,and,









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.

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b) tenpercent(10%)ofthenon-votingstocksofanysingleissuingbody,


d) tenpercent(10%)ofthemoneymarketinstrumentsofanysingleissuingbody,


Thelimitslaiddowninc),d)ande)ofthisparagraphmaybedisregardedatthetimeofacquisitionifatthattimethegrossvalueofthebondsormoneymarketinstrumentsorthenetvalueofthesharesofmutualfundsorothercollectiveinvestmentundertakingscannotbecalculated.







44


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



















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

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threemoremonthsatmaximum.ThesuspensionofredemptionandtheexpiryorrevocationthereofshallbepostedonManagementCompany’swebsite.Thenoticeofsuspensionofredemptionshallalsodeterminetheexpirythereof.Noapplicationforredemptionmaybesubmittedbyshareholdersduringthesuspensionofredemptionofshares.









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

ShareClass A E I Z

MaximumpercentageoffixedManagementfeeperannum:

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

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











46













47




3. Thecustodianmaydelegate,withpriornotificationtotheCapitalMarketCommissionandwiththeconsentoftheManagementCompany,thesafekeepingofallorpartoftheFund’sassetstothirdparties.Thirdpartiesshallmeancredit institutionsorotherorganizationsprovidingcustodianservices,whichare registered inGreeceorothercountriesandaresubjecttoprudentialrulesbeingatleastequivalenttothoseapplicableinGreece.Thecustodianandthethirdpartyshallbe liabletowardstheshareholdersof thefundandtheManagementCompany.



1. TheManagementCompanyestablishedaMutualFundunderthename:«MIDLANDHELLENOBRETANNIKILIQUIDITY FUND», which under decision no 37/21.9.1997 of Capital Market Commission was renamed“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


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TRITONMoneyMarketEuroFund
















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

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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.

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

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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

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.

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(b)Thematurityofafloatingratefinancialinstrumentisthetimeremaininguntilitsnextraterevaluation.

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

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






10. Aggregateinvestmentsintransferablesecuritiesandmoneymarketinstruments,asreferredtoinparagraph6ofthisarticle,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 or

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guaranteeingsecuritiesandmoneymarketinstrumentsinwhichtheFundintendstoinvestmorethanthirtyfivepercent(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 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.


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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.

















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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: +30 216 500 1800 • +30 210 3643 855

www.triton-am.com

Copyright© Published by TRITON ASSET MANAGEMENT AEDAK • August 2016

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