means the body with ultimate decision-making authority in a management company, investment company or depositary, comprising the supervisory and the managerial functions, or only the managerial function if the two functions are separated.
(b)in paragraph 3, the following subparagraph is added:‘The annual report shall also include:
(a)the total amount of remuneration for the financial year, split into fixed and variable remuneration paid by the management company and by the investment company to its staff, and the number of beneficiaries, and where relevant, any amount paid directly by the UCITS itself, including any performance fee;
(b)the aggregate amount of remuneration broken down by categories of employees or other members of staff as referred to in Article 14a(3);
(c)a description of how the remuneration and the benefits have been calculated;