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Private Access Fund. In addition, select financial services companies, including affiliates of Morgan Stanley Smith Barney ("Morgan Stanley") and UBS Financial Services ("UBS") have made equity investments in Institutional Capital Network, Inc. iCapital may offer Private Access Funds to clients of Morgan Stanley
security then declines or, if it has contracted to sell the security to another party, the Fund could be liable for any losses incurred. Small or Medium-Sized Companies Investing in the securities of small or medium-sized companies can involve greater risk and the possibility of greater portfolio price volatility than is t
Private Access Fund. In addition, select financial services companies, including affiliates of Morgan Stanley Smith Barney ("Morgan Stanley") and UBS Financial Services ("UBS") have made equity investments in Institutional Capital Network, Inc. iCapital may offer Private Access Funds to clients of Morgan Stanley
security then declines or, if it has contracted to sell the security to another party, the Fund could be liable for any losses incurred. Small or Medium-Sized Companies Investing in the securities of small or medium-sized companies can involve greater risk and the possibility of greater portfolio price volatility than is t
Private Access Fund. In addition, select financial services companies, including affiliates of Morgan Stanley Smith Barney ("Morgan Stanley") and UBS Financial Services ("UBS") have made equity investments in Institutional Capital Network, Inc. iCapital may offer Private Access Funds to clients of Morgan Stanley
security then declines or, if it has contracted to sell the security to another party, the Fund could be liable for any losses incurred. Small or Medium-Sized Companies Investing in the securities of small or medium-sized companies can involve greater risk and the possibility of greater portfolio price volatility than is t
Private Access Fund. In addition, select financial services companies, including affiliates of Morgan Stanley Smith Barney ("Morgan Stanley") and UBS Financial Services ("UBS") have made equity investments in Institutional Capital Network, Inc. iCapital may offer Private Access Funds to clients of Morgan Stanley
security then declines or, if it has contracted to sell the security to another party, the Fund could be liable for any losses incurred. Small or Medium-Sized Companies Investing in the securities of small or medium-sized companies can involve greater risk and the possibility of greater portfolio price volatility than is t
Private Access Fund. In addition, select financial services companies, including affiliates of Morgan Stanley Smith Barney ("Morgan Stanley") and UBS Financial Services ("UBS") have made equity investments in Institutional Capital Network, Inc. iCapital may offer Private Access Funds to clients of Morgan Stanley
security then declines or, if it has contracted to sell the security to another party, the Fund could be liable for any losses incurred. Small or Medium-Sized Companies Investing in the securities of small or medium-sized companies can involve greater risk and the possibility of greater portfolio price volatility than is t
Entities connected to both UBS Financial Services Inc and Medium-Sized Companies Investing

Credit Suisse
ORGANIZATION
BlackRock
ORGANIZATIONGroup AG
ORGANIZATIONiCapital
ORGANIZATIONBNY Capital Corporation
ORGANIZATIONBlackRock, Inc.
ORGANIZATIONthe Securities and Exchange Commission
ORGANIZATION
Virginia Giuffre
PERSON
Emerging Markets
ORGANIZATION
Stanton
PERSON
Michael Shannon
PERSON
Trinity College
ORGANIZATIONInvesco
ORGANIZATION
North America
LOCATIONReliance
ORGANIZATION
the University of Virginia
ORGANIZATION
Fidelity
ORGANIZATION
New York
LOCATIONEileen Alexanderson
PERSONNational Financial Services
ORGANIZATION