THE TRUST AND THE FUND. It is understood and expressly stipulated that none of the Trustees or shareholders of the Trust shall be personally liable hereunder. Neither the Trustees, officers, agents nor shareholders of the Trust assume any personal liability for obligations entered into on behalf of the Trust. All persons dealing with the Trust must look solely to the property of the Trust for the enforcement of any claims against the Trust. No series of the Trust shall be liable for any claims against any other series.
THE TRUST AND THE FUND. The Fund is sponsored by the Sponsor. Neither the Trust nor the Fund is an investment company under the Investment Company Act of 1940 (the “1940 Act”) and neither is required to register thereunder. The Sponsor is not registered as an investment adviser under the Investment Advisers Act of 1940 and is not required to register thereunder.
