Article 22 — Distribution of proceeds and capital
- An ELTIF may regularly distribute to investors the proceeds generated by the assets contained in its portfolio. Those proceeds shall comprise:
- proceeds that the assets are regularly producing;
- capital appreciation realised after the disposal of an asset.
- The proceeds shall not be distributed to the extent that they are required for future commitments of the ELTIF.
- An ELTIF may reduce its capital on a pro rata basis in the event of a disposal of an asset before the end of the life of the ELTIF, provided that such a disposal is duly considered to be in the investors' interests by the manager of the ELTIF.
- The rules or instruments of incorporation of an ELTIF shall specify the distribution policy that the ELTIF will apply during its life.