There are certain investment risks which apply in relation
to techniques and instruments which the Investment
Adviser may employ for efficient portfolio management
purposes or if disclosed in relation to any Fund, as part of
the principal investment policy including, but not limited to,
those described below. However, should the Investment
Adviser’s expectations in employing such techniques and
instruments be incorrect, a Fund may suffer a substantial
loss, having an adverse effect on the net asset value of the
Shares.