المادة 15(a): Delegation by the Fund Manager

a. The Fund Manager may delegate one or more third parties or any of its affiliates to act as a Sub-Fund Manager for managing the Fund’s investments within the Kingdom, the following must be fulfilled:

1) The delegate must be appointed pursuant to a written agreement.

2) The delegate must be a capital market institution licensed to carry out the activity of managing Investments and operating funds or the activity of managing investments.