Common use of Amendments to the Unit Trust Agreement Clause in Contracts

Amendments to the Unit Trust Agreement. Under the Unit Trust Agreement, the Management Company reserves the right to amend the terms and conditions of the Unit Trust Agreement. Moreover, the Management Company has the right under the Unit Trust Agreement to completely liquidate a Sub- Fund or to merge it with another Sub-Fund. For the investor, this entails the risk that the investor may not achieve the holding period as planned. Exchange Control and Repatriation. It may not be possible for Sub-Funds to repatriate capital, dividends, interest and other income from certain countries, or it may require government consents to do so. Sub- Funds could be adversely affected by the introduction of, or delays in, or refusal to grant any such consent for the repatriation of funds or by any official intervention affecting the process of settlement, clearing and registration of transactions. Economic or political conditions could lead to the revocation or variation of consent granted prior to investment being made in any particular country or to the imposition of new restrictions. Taxes. The buying, holding or selling of Sub-Funds’ investments in other jurisdictions may be subject to a withholding tax. Additionally, if the tax base of the UCITS and/or a Sub-Fund had been incorrectly determined in the past and needs to be corrected, for example, as a consequence of tax audits, this correction may lead to a tax burden for investors even if an investor was not invested in the Sub-Fund at that time. Furthermore, the correction of fiscal data may result in taxable profits or tax benefits actually being assessed in a different tax assessment period than that actually applicable, which may also have a negative impact on the investor.

Amendments to the Unit Trust Agreement. Under the Unit Trust Agreement, the Management Company reserves the right to amend the terms and conditions of the Unit Trust Agreement. Moreover, the Management Company has the right under the Unit Trust Agreement to completely liquidate a Sub- Fund or to merge it with another Sub-Fund. For the investor, this entails the risk that the investor may not achieve the holding period as planned. Exchange Control and Repatriation. It may not be possible for Sub-Funds to repatriate capital, dividends, interest and other income from certain countries, or it may require government consents to do so. Sub- Funds could be adversely affected by the introduction of, or delays in, or refusal to grant any such consent for the repatriation of funds or by any official intervention affecting the process of settlement, clearing and registration of transactions. Economic or political conditions could lead to the revocation or variation of consent granted prior to investment being made in any particular country or to the imposition of new restrictions. Taxes. The buying, holding or selling of Sub-Funds’ investments in other jurisdictions may be subject to a withholding tax. Additionally, if the tax base of the UCITS and/or a Sub-Fund had been incorrectly determined in the past and needs to be corrected, for example, as a consequence of tax audits, this correction may lead to a tax burden for investors even if an investor was not invested in the Sub-Fund at that time. Furthermore, the correction of fiscal data may result in taxable profits or tax benefits actually being assessed in a different tax assessment period than that actually applicable, which may also have a negative impact on the investor.

Amendments to the Unit Trust Agreement. Under the Unit Trust Agreement, the Management Company reserves the right to amend the terms and conditions of the Unit Trust Agreement. Moreover, the Management Company has the right under the Unit Trust Agreement to completely liquidate a Sub- Fund or to merge it with another Sub-Fund. For the investor, this entails the risk that the investor may not achieve the holding period as planned. Exchange Control and Repatriation. It may not be possible for Sub-Funds to repatriate capital, dividends, interest and other income from certain countries, or it may require government consents to do so. Sub- Sub-Funds could be adversely affected by the introduction of, or delays in, or refusal to grant any such consent for the repatriation of funds or by any official intervention affecting the process of settlement, clearing and registration of transactions. Economic or political conditions could lead to the revocation or variation of consent granted prior to investment being made in any particular country or to the imposition of new restrictions. Taxes. The buying, holding or selling of Sub-Funds’ investments in other jurisdictions may be subject to a withholding tax. Additionally, if the tax base of the UCITS and/or a Sub-Fund had been incorrectly determined in the past and needs to be corrected, for example, as a consequence of tax audits, this correction may lead to a tax burden for investors even if an investor was not invested in the Sub-Fund at that time. Furthermore, the correction of fiscal data may result in taxable profits or tax benefits actually being assessed in a different tax assessment period than that actually applicable, which may also have a negative impact on the investor.

Amendments to the Unit Trust Agreement. Under the Unit Trust Agreement, the Management Company reserves the right to amend the terms and conditions of the Unit Trust Agreement. Moreover, the Management Company has the right under the Unit Trust Agreement to completely liquidate a Sub- Fund or to merge it with another Sub-Fund. For the investor, this entails the risk that the investor may not achieve the holding period as planned. Exchange Control and Repatriation. It may not be possible for Sub-Funds to repatriate capital, dividends, interest and other income from certain countries, or it may require government consents to do so. Sub- Funds could be adversely affected by the introduction of, or delays in, or refusal to grant any such consent for the repatriation of funds or by any official intervention affecting the process of settlement, clearing and registration of transactions. Economic or political conditions could lead to the revocation or variation of consent granted prior to investment being made in any particular country or to the imposition of new restrictions. Taxes. The buying, holding or selling of Sub-Funds’ investments in other jurisdictions may be subject to a withholding tax. Additionally, if the tax base of the UCITS and/or a Sub-Fund had been incorrectly determined in the past and needs to be corrected, for example, as a consequence of tax audits, this correction may lead to a tax burden for investors even if an investor was not invested in the Sub-Fund at that time. Furthermore, the correction of fiscal data may result in taxable profits or tax benefits actually being assessed in a different tax assessment period than that actually applicable, which may also have a negative impact on the investor.this