Common use of INFORMATION ON THE NATURE AND RISKS OF CERTAIN INVESTMENTS Clause in Contracts

INFORMATION ON THE NATURE AND RISKS OF CERTAIN INVESTMENTS. The information contained in this notice cannot disclose everything about the nature and risks of all financial instruments in the Fund. Rather it is a general description of the nature and risks of financial instruments, which explains the nature of the specific types of instruments which VKAM may include in the Fund's investment guidelines (the "INVESTMENT GUIDELINES"), as well as the risks particular to those instruments. VKAM should not include these financial instruments in the Investment Guidelines unless VKAM understand the nature of the financial instruments VKAM is permitting Xxxxxx Xxxxxxx Investment Management Limited ("MSIM") to enter into on VKAM's behalf and the extent of VKAM's exposure to risk. VKAM should also be satisfied that such financial instruments are suitable for the Fund in light of VKAM's circumstances and financial position. Certain strategies, such as a spread position or "straddle", may be as risky as a simple "long" or "short" position. While financial instruments can be utilised for the management of investment risk, certain financial instruments are unsuitable for certain investors. Different financial instruments involve different levels of exposure to risk, and in deciding whether to include such instruments in the Investment Guidelines, VKAM should be aware of the following points.

INFORMATION ON THE NATURE AND RISKS OF CERTAIN INVESTMENTS. The information contained in this notice cannot disclose everything about the nature and risks of all financial instruments in the Fund. Rather it is a general description of the nature and risks of financial instruments, which explains the nature of the specific types of instruments which VKAM the Investment Manager may include in the Fund's ’ investment guidelines (the "INVESTMENT GUIDELINES"“Investment Guidelines”), as well as the risks particular to those instruments. VKAM The Investment Manager should not include these financial instruments in the Investment Guidelines unless VKAM the Investment Manager understand the nature of the financial instruments VKAM the Investment Manager is permitting Xxxxxx Xxxxxxx Investment Management Limited ("“MSIM"”) to enter into on VKAM's the Investment Manager’s behalf and the extent of VKAM's the Investment Manager’s exposure to risk. VKAM The Investment Manager should also be satisfied that such financial instruments are suitable for the Fund in light of VKAM's the Investment Manager’s circumstances and financial position. Certain strategies, such as a spread position or "“straddle"”, may be as risky as a simple "“long" ” or "“short" ” position. While financial instruments can be utilised for the management of investment risk, certain financial instruments are unsuitable for certain investors. Different financial instruments involve different levels of exposure to risk, and in deciding whether to include such instruments in the Investment Guidelines, VKAM the Investment Manager should be aware of the following points.

INFORMATION ON THE NATURE AND RISKS OF CERTAIN INVESTMENTS. The information contained in this notice cannot disclose everything about the nature and risks of all financial instruments in the FundFunds. Rather it is a general description of the nature and risks of financial instruments, which explains the nature of the specific types of instruments which VKAM may include in the Fund's Funds' investment guidelines (the "INVESTMENT GUIDELINES"), as well as the risks particular to those instruments. VKAM should not include these financial instruments in the Investment Guidelines unless VKAM understand the nature of the financial instruments VKAM is permitting Xxxxxx Xxxxxxx Investment Management Limited ("MSIM") to enter into on VKAM's behalf and the extent of VKAM's exposure to risk. VKAM should also be satisfied that such financial instruments are suitable for the Fund Funds in light of VKAM's circumstances and financial position. Certain strategies, such as a spread position or "straddle", may be as risky as a simple "long" or "short" position. While financial instruments can be utilised for the management of investment risk, certain financial instruments are unsuitable for certain investors. Different financial instruments involve different levels of exposure to risk, and in deciding whether to include such instruments in the Investment Guidelines, VKAM should be aware of the following points.

INFORMATION ON THE NATURE AND RISKS OF CERTAIN INVESTMENTS. The information contained in this notice cannot disclose everything about the nature and risks of all financial instruments in the Fund. Rather it is a general description of the nature and risks of financial instruments, which explains the nature of the specific types of instruments which VKAM may include in the Fund's investment guidelines (the "INVESTMENT GUIDELINES"), as well as the risks particular to those instruments. VKAM should not include these financial instruments in the Investment Guidelines unless VKAM understand the nature of the financial instruments VKAM is permitting Xxxxxx Xxxxxxx Morgan Stanley Investment Management Limited ("MSIM") to enter into on VKAM's behalf xx XXAX'x xxxalf and the extent of VKAM's exposure to risk. VKAM should also be satisfied that such financial instruments are suitable for the Fund in light of VKAM's circumstances and financial position. Certain strategies, such as a spread position or "straddle", may be as risky as a simple "long" or "short" position. While financial instruments can be utilised for the management of investment risk, certain financial instruments are unsuitable for certain investors. Different financial instruments involve different levels of exposure to risk, and in deciding whether to include such instruments in the Investment Guidelines, VKAM should be aware of the following points.