RISKS

General Risks - Rohfund Income Fund and Rohfund Growth Fund

Investment in any of the sub-funds should be regarded as a long-term investment. Share prices and income, if any, can go down as well as up and investors may lose their initial investment. Limited fixed diversification guidelines apply, so at times the sub-funds may be exposed to a particular market sector, region or industry, and accordingly may be subject to more rapid change in value.

Specific Risks - Rohfund Income Fund and Rohfund Growth Fund

• The Funds may invest in derivative instruments, which involve varying levels of exposure to risk, including high risk;
• The Funds may invest in instruments denominated in currencies other than Euro and GBP, and accordingly the Funds will be exposed to forex rates risks;
• Unexpected volatility, severe economic downturns, unforeseen political developments, and unfavorable tax and legal developments could affect the Fund's activities and assets;
• The Fund may invest in the commodities sector, which investments are associated with considerable risks and potential significant price fluctuations;
• The Investment Committee members may act as investment committee of board members to other clients or funds and may give advice or take action with respect to them which may be the same or different from the advice given or action taken with respect to the Fund and the Fund's investments;
• Investors in the Fund have no right or power to elect members of the Fund's Board of Directors or to otherwise take part in or direct the management of the Fund;
• If counterparty defaults or becomes insolvent, the Fund's assets may be at risk;
• Substantial redemptions of the Shares in the Funds could require the Funds to liquidate positions more rapidly than would otherwise be desirable and this could adversely affect the value of the Fund's Shares. In such circumstances the Directors of the scheme shall have the discretion, on the advice of the Investment Committee of the respective Funds, to defer redemptions;