Common use of RISK OF USING BORROWED MONEY TO FINANCE AN INVESTMENT Clause in Contracts

RISK OF USING BORROWED MONEY TO FINANCE AN INVESTMENT. We do not lend money, extend credit or provide margin to our clients. Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. If you borrow money to purchase Units of one of our funds, your responsibility to repay the loan and pay interest as required by the terms of the loan remains the same even if the value of the Units purchased declines. Furthermore, there may be negative tax consequences for an investor who borrows money to purchase Units of a limited partnership.

RISK OF USING BORROWED MONEY TO FINANCE AN INVESTMENT. We do not lend money, extend credit or provide margin to our clients. Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. If you borrow money to purchase Units of one of our fundsClass “A” Shares, your responsibility to repay the loan and pay interest as required by the terms of the loan remains the same even if the value of the Units Class “A” Shares purchased declines. Furthermore, there may be negative tax consequences for an investor who borrows money to purchase Units of a limited partnership.