Alternative Investments Disclosures

Alternative investments, including private equity funds and funds of funds are often unregistered private investment partnerships, funds or pools that may invest and trade in many different market strategies, and instruments (including securities, non-securities, and derivatives) and that employ different investment, hedging, leverage, and arbitrage methodologies. These investments are not subject to the same regulatory requirements as mutual funds, including mutual fund requirements to provide certain periodic and standardized pricing and valuation information to investors. There are often substantial risks in investing in alternative investments.

Alternative investments are not appropriate for all individuals and are subject to a variety of risks. Alternative investments are a speculative investment and are not intended to be a complete investment program. Alternative investments are for sophisticated and experienced investors who can bear the risk of loss of their entire investment. Investors may get back less than they invested, and asset allocation and diversification does not guarantee a profit or protect against loss.

Alternative investments should be viewed as illiquid and suitable only for long-term investors. There will be no public market for interests, and none is expected to develop. There are substantial restrictions upon the transferability of interests under applicable securities laws.

Certain statements included in this report are forward-looking statements and are not intended to serve as a guarantee, an assurance, a prediction or a definitive statement of fact or probability.

There is no guarantee that any investment product will achieve its objectives, generate profits, or avoid losses.

Certain statements included in this report are forward-looking statements and are not intended to serve as a guarantee, an assurance, a prediction or a definitive
statement of fact or probability.

There is no guarantee that any investment product will achieve its objectives, generate profits, or avoid losses.