Epidemics, pandemics outbreaks of disease and public health issues The activities of the Fund, the Portfolio Manager and their respective operations and the Fund’s investments could be adversely affected by outbreaks of disease, epidemics and public health issues either regionally or globally, despite effective business continuity plans being in place. An example of this is the coronavirus, or COVID-19, which has spread rapidly around the world since its initial emergence in December 2019 and has negatively affected (and may continue to negatively affect or materially impact) the global economy, global markets and supply chains. Although the long-term effects of epidemics and pandemics can be very difficult to predict and it may sometimes even not be possible to predict them, previous occurrences of other epidemics and pandemics had material adverse effects on the economies, equity markets, and operations of those countries and jurisdictions in which they were most prevalent. Any major public health issue could affect individual issuers or related groups of issuers, which would be reasonably likely to adversely affect the business, financial condition and operations of the Fund and the Portfolio Manager. Additionally, any outbreak of disease epidemics may result in the closure of the Portfolio Manager’s offices or other businesses, and while the Fund and the Portfolio Manager have robust remote working and business continuity procedures in place, it could impact the ability of the Portfolio Manager and their service providers to operate and implement a Sub-Fund's investment strategies and objectives which can ultimately have an adverse impact on a Sub- Fund’s value. In addition, the Portfolio Manager’s personnel may be directly impacted by the spread, both through direct exposure and exposure to family members. Even though the Portfolio Manager’s business continuity procedures include measures to address the possibility of personnel contracting infectious disease that aim at mitigating the need for the Fund to suspend its activities, the spread of a disease among the Portfolio Manager’s personnel could significantly affect their ability to properly manage the affairs of the Fund, resulting in the possibility of the Board of Directors deciding to implement a temporary or permanent suspension of the Fund’s investment activities or operation, in accordance with the terms of this Prospectus. Furthermore, the risks related to epidemics, pandemics and outbreaks of disease are height...
