Common use of Sub-Funds Clause in Contracts

Sub-Funds. A Unitholder participates in the performance of the relevant Sub-Fund based on the number of Units held by such Unitholder in proportion to the aggregate number of Units issued. Each Sub-Fund constitutes a pool of assets and liabilities separate from other Sub-Funds of the UCITS, and, under Liechtenstein law, the assets of any one Sub-Fund are not available to meet the liabilities of another Sub-Fund. As such, the assets and liabilities of each Sub-Fund are segregated from the assets and liabilities of the other Sub-Funds. Any claims levied by investors or creditors or any other party vis-à-vis any Sub-Fund shall be restricted to the net assets of such Sub-Fund. Each Sub-Fund is deemed to be independent from the other Sub-Funds as regards the relationship between the Unitholders in the UCITS. The rights and obligations of the Unitholders in any Sub-Fund are separate from the rights and obligations of the Unitholders in other Sub-Funds. The Sub-Funds may be established for a limited or an unlimited duration, as set out in Annex A. Past performance of each of the Sub-Funds (including Classes), once available, shall be disclosed on the LAFV's website (xxx.xxxx.xx) and in the relevant Key Investor Information Document. The UCITS Documentation pertains to all Sub-Funds. The Management Company may liquidate existing Sub-Funds and launch new Sub-Funds, in which case the UCITS Documentation will be updated accordingly.

Sub-Funds. A Unitholder participates in the performance of the relevant Sub-Fund based on the number of Units held by such Unitholder in proportion to the aggregate number of Units issued. Each Sub-Fund constitutes a pool of assets and liabilities separate from separatferom other Sub-Funds of the UCITStheUCITS, and, under Liechtenstein law, the assets of any one SubSu-Fund Fbund are not available to meet the liabilities of another Sub-Fund. As such, ,the assets and liabilities of assetsand liabilitiesof each Sub-Fund are segregated from the assets and assetasnd liabilities of the other Sub-Funds. Any claims levied claimslevied by investors or creditors or any other party visv-àisà-vis any Sub-Fund shall be restricted to the net assets of such SubSu-FundFbund. Each Sub-Fund is deemed to be independent from independentfrom the other Sub-Funds as regards the regardsthe relationship between the Unitholders in the UCITS. The rights and obligations of the ofthe Unitholders in any Sub-Fund are separate from the rights and obligations of the Unitholders in Unitholdersin other Sub-Funds. The Sub-Funds may be maybe established for a fora limited or an unlimited duration, as set out in Annex A. Past performance of each of the Sub-Funds (including Classes), once Classe,s)once available, shall be disclosed bedisclosed on the LAFV's website (xxx.xxxx.xxxxx.xxxx.xx ) and in the relevant Key Investor Information InvestorInformation Document. The UCITS Documentation UCITSDocumentation pertains to all Sub-Funds. The Management Company may liquidate existing Sub-Funds and launch new SubSu-FundsbFunds, in which case the UCITS Documentation theUCITSDocumentation will be updated accordingly.