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Fund to liquidate such securities at disadvantageous prices negatively impacting the performance of the Fund. Extraordinary Market Conditions and Governmental Actions Unpredictable or unstable market conditions may result in reduced opportunities to find suitable investments to deploy capital or make it more diff
rne by the holders of the relevant sub-classes of Non-USD Shares. There can be no assurance that the currency hedging activities in connection with the Non-USD Shares will be effective. In addition, there can be no assurance that the currency hedging activities will fully protect investors from a decline in the v
els of debt or inflation than others. ML281817-MAXWELL II-17 CONFIDENTIAL UBSTERRAMAR00002433 EFTA00237989 Extraordinary Market Conditions and Governmental Actions Beginning in 2008 and continuing at least through the date of this Confidential Memorandum, world financial markets experienced a series of extraor
rne by the holders of the relevant sub-classes of Non-USD Shares. There can be no assurance that the currency hedging activities in connection with the Non-USD Shares will be effective. In addition, there can be no assurance that the currency hedging activities will fully protect investors from a decline in the v
gher levels of debt or inflation than others. -MAXWELL II-17 CONFIDENTIAL UBSTERRAMAR00001380 EFTA00237026 Extraordinary Market Conditions and Governmental Actions Beginning in 2008 and continuing at least through the date of this Confidential Memorandum, world financial markets experienced a series of extraor
rne by the holders of the relevant sub-classes of Non-USD Shares. There can be no assurance that the currency hedging activities in connection with the Non-USD Shares will be effective. In addition, there can be no assurance that the currency hedging activities will fully protect investors from a decline in the v
Entities connected to both Governmental Actions and the Non-USD Shares

Millennium
ORGANIZATIONthe Mutual Funds Law
ORGANIZATIONCayman Islands Tax Matters
ORGANIZATION
England
LOCATION
New York
LOCATIONthe Cayman Islands Monetary Authority
ORGANIZATIONMillennium USA LP
ORGANIZATIONCayman
LOCATIONErnst & Young LLP
ORGANIZATION
Mohammed bin Salman
PERSON
New York State
LOCATION
United States
LOCATIONthe State of New York
LOCATION
Tokyo
LOCATIONLehman
ORGANIZATION
United Kingdom
LOCATION
JPMorgan Chase
ORGANIZATIONthe "Service
ORGANIZATION
Ghislaine Maxwell
PERSON
Wilbur Ross
PERSON