Borrowing of cash
Article 16
1. An ELTIF may borrow cash provided that such borrowing fulfils all of the following conditions: (a) it represents no more than 30 % of the value of the capital of the ELTIF; (b) it serves the purpose of investing in eligible investment assets, except for loans referred to in point (c) of Article 10, provided that the holdings in cash or cash equivalents of the ELTIF are not sufficient to make the investment concerned; (c) it is contracted in the same currency as the assets to be acquired with the borrowed cash; (d) it has a maturity no longer than the life of the ELTIF; (e) it encumbers assets that represent no more than 30 % of the value of the capital of the ELTIF. 2. The manager of the ELTIF shall specify in the prospectus of the ELTIF whether or not it intends to borrow cash as part of its investment strategy.