The circulation and distribution of this confidential document may be restricted by law.
This document does not constitute an offer or solicitation to anyone in any jurisdiction in
which such an offer or solicitation is not authorized, or to any person to whom it is unlawful
to make such an offer or solicitation. Persons into whose possession this document comes
are required by the Investment Manager to inform themselves about and observe any such
restrictions. If in any doubt about the contents of this document, a professional adviser
should be consulted.
This document and its contents are confidential and should not be distributed, published or
reproduced (in whole or in part) or disclosed by recipients to any other person.
The Fund’s portfolios are subject to market fluctuations and there can be no assurance that
appreciation will occur or that loss will not be realized; the value of investments may fall as
well as rise.
Because of the risks involved, investment in the Fund is only suitable for sophisticated
investors who are able to bear the loss of a substantial portion or even all the money the
invest in the Fund without altering their standard of living, who understand the high degree
of risk involved, believe that the investment is suitable based upon their investment
objectives and financial needs and have no need for liquidity of investments.