Accredited investor requirements

Included within the definition of “accredited investor” are investors who fall within any of the following categories:
 

• any natural person whose individual net worth or joint net worth with that person’s spouse at the time of his purchase exceeds US$1,000,000; or
• any natural person who had an individual income in excess of US$200,000 in each of the two most recent calendar years or joint income with that person’s spouse in excess of US$300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current calendar year;
• any entity in which all of the equity owners are accredited investors; or
• any corporation, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of US$5,000,000.

See the Application Form for the complete definition of “accredited investor.”

THE FOREGOING REQUIREMENTS ARE REGULATORY MINIMA ONLY. PERSONS WITH QUESTIONS AS TO WHETHER THEY QUALIFY AS “ACCREDITED INVESTORS” ARE URGED TO REFER SUCH QUESTIONS TO THEIR OWN LEGAL ADVISERS.

 

A POTENTIAL INVESTOR MUST CONSULT HIS OR HER OWN LEGAL, TAX AND FINANCIAL ADVISERS WITH RESPECT TO HIS OR HER INDIVIDUAL CIRCUMSTANCES AND THE SUITABILITY OF AN INVESTMENT IN THE FUND.

PURCHASE OF THE PARTICIPATING SHARES IN THIS FUND INVOLVES A HIGH DEGREE OF RISK AND SHOULD BE MADE ONLY BY THOSE PERSONS WHO CAN AFFORD TO BEAR THE RISK OF A TOTAL LOSS OF THEIR INVESTMENT. THE MANAGER RESERVES THE RIGHT TO REJECT ANY APPLICATION FOR SUBSCRIPTION IN WHOLE OR IN PART, AND WILL EXERCISE THIS RIGHT TO PREVENT ANY SUBSCRIBER FOR WHICH THE MANAGER HAS REASON TO BELIEVE THE FUND MAY NOT BE AN APPROPRIATE INVESTMENT FROM INVESTING IN THE FUND.

QUALIFICATION AS AN “ACCREDITED INVESTOR” IS NO ASSURANCE THAT A MINIMUM US$1,000,000 INVESTMENT IN THE FUND WOULD BE SUITABLE FOR A PARTICULAR INVESTOR.
 

The Participating Shares are not open to subscription by any person resident in the Cayman Islands.