The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 7,000 on IQAM Invest GmbH as a legal person. Proceedings were concluded under the accelerated conclusion of proceedings pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). For two funds that IQAM Invest GmbH manages, it invested in fund units of a third fund that, based on its contractual conditions, did not correspond to the stipulated investment criteria in Article 71 para. 1 of the Investment Funds Act 2011 (InvFG 2011; Investmentfondsgesetz 2011). This provision exists for investor protection purposes. The penal order is final.