The fund management sets internal investment guidelines which are more stringent than the regulations in the fund contract; they create a safe distance from the investment restrictions. They do not constitute a promise to the investor, neither are they actionable. The custodian bank only examines the IIG for contractual obligations, not from a legal viewpoint. Unlike cases where investment restrictions are breached, escalation above the fund management may occur.
German: Internal Investment Guidelines (IIG) (436)
Source: SFO D15 2010 m. e. E., 24.04.2010