FINANCIAL SERVICES EVOLVING MANAGEMENT REGULATION 2011
The Company on behalf of a sub-fund may enter into transactions in over-the-counter markets, which will expose the sub-fund to the
credit of its counterparties and their ability to satisfy the terms of such contracts.
For example, the Company on behalf of the sub-fund may enter into repurchase agreements, forward contracts, options and swap
arrangements or other derivative techniques, each of which expose the sub-fund to the risk that the counterparty may default on its
obligations to perform under the relevant contract. In the event of a bankruptcy or insolvency of a counterparty, the sub-fund could
experience delays in liquidating the position and significant losses,...