Examples of Underlying Entities in a sentence
As a result, a relatively small price movement in a futures or derivatives contract may result in an immediate and substantial loss, or gain, to the Underlying Entities.
Each strategy employed by the Underlying Entities typically will involve a different set of complex risks, many of which are not described in this Prospectus.
There is therefore a currency exchange risk which may affect the value of the relevant Sub-Fund’s Units to the extent that the Underlying Entities make such investments.
If prices or valuations of investments in the Underlying Entities are for any reason unavailable within a reasonable period following a Valuation Point, the Managers may delay the calculation of the final NAV of the relevant Sub-Fund until such prices or valuations become available.
The Underlying Entities may from time to time invest their assets in countries which have exchange control restrictions and the Underlying Entities may encounter difficulties or delay in relation to the receipt of its divestments due to such controls existing in various countries.
The relevant Sub-Fund will bear indirectly fees charged by the managers and other service providers of its Underlying Entities.
The Underlying Entities’ assets may be invested in securities denominated in currencies other than the relevant Sub-Fund currency and any income received by the Underlying Entities from those investments will be received in those currencies.
As at the date of registration of this Prospectus, it is not certain whether any fees charged by Underlying Entities will be waived, or any rebates (whether limited in time or otherwise) will be given.
For the avoidance of doubt, such fees and expenses are not paid out of the Deposited Property of the Sub-Fund, but are instead payable out of the assets of the relevant Underlying Entities, which may affect the net asset value of the relevant Underlying Entities.
In accordance with the Sub-Fund’s investment focus and approach, the Sub-Fund may not hold the same Underlying Entities all of the time and it would not be practical to disclose the exact fees and charges payable to or by each Underlying Entity at all relevant times.