The explanation referred to in paragraph 2 shall be accompanied by an illustration, showing at least three scenarios of the UCITS potential performance.

appropriate performance scenarios, and the assumptions made to produce them;

Potentially misleading performance scenarios for interim holding periods;

Potentially misleading performance scenarios for interim holding periods;

appropriate performance scenarios, and the assumptions made to produce them;

(iii) appropriate performance scenarios and the assumptions on which they are based;

appropriate performance scenarios, and the assumptions made to produce them;

Assessments can be designed around relevant performance scenarios, and specific key performance indicators or criteria.

illustrations of what the retail investor might receive in return from their investment (performance scenarios);

Illustrations of what the retail investor might receive in return from their investment (performance scenarios: future performance scenarios, the inclusion of past performance, …);

Illustrations of what the retail investor might receive in return from their investment (performance scenarios).

Illustrations of what the retail investor might receive in return from their investment (performance scenarios);

Other methods taught herein include two complementary techniques for preconditioning performance scenarios, referred to as pseudo-simulation and workload aggregation.

where a component of the performance relates to profit participation that is payable on a discretionary basis, this component shall only be assumed in the favourable performance scenarios:

where a component of the performance relates to profit participation that is payable on a discretionary basis, this component shall only be assumed in the favourable performance scenarios: