PC NMS October 2012 clean version CSSF 3010 pour VISA FINAL

No transfer or sale of the Shares shall be made unless, among other things, such transfer or sale is exempt
from the registration requirement of the 1933 Act and any applicable state securities laws or is made pursuant
to an effective registration statement under the 1933 Act and such state securities laws and would not result
in the Fund becoming subject to registration or regulation under the 1940 Act.
Shares may furthermore not be sold or held either directly by nor to the benefit of, among others, a citizen or
resident of the USA, a partnership organized or existing in any state, territory or possession of the USA or
other areas subject to its jurisdiction, an estate or trust the income of which is subject to United States federal
income tax regardless of its source, or any corporation or other entity organized under the law of or existing in
the USA or any state, territory or possession thereof or other areas subject to its jurisdiction (a "U.S. Person").
All purchasers must certify that the beneficial owner of such Shares is not a U.S. Person and is purchasing such
Shares for its own account, for investment purposes only and not with a view towards resale thereof.
Data Protection
The Fund may collect information from a shareholder or prospective shareholder from time to time in order to
develop and process the business relationship between the shareholder or prospective shareholder and the
Fund, and for other related activities. If a shareholder or prospective shareholder fails to provide such
information in a form which is satisfactory to the Fund, the Fund may restrict or prevent the ownership of
Shares in the Fund and the Fund, the Registrar and Transfer Agent and/or any Placing Agent (as the case may
be) shall be held harmless and indemnified against any loss arising as a result of the restriction or prevention
of the ownership of Shares.
By completing and returning an application form, shareholder consent to the use of personal data by the Fund.
The Fund may disclose personal data to its agents, service providers or if required to do so by force of law or
regulatory authority. Shareholders will upon written request be given access to personal data provided to the
Fund. Shareholders may request in writing the rectification of, and the Fund will upon written request rectify,
personal data. All personal data shall not be held by the Fund for longer than necessary with regard to the
purpose of the data processing.
The Placing Agents may use personal data to regularly inform shareholder about other products and services
that the placing agents believe may be of interest to shareholder, unless the shareholder indicates to the
Placing Agent on the application form or in writing that it does not wish to receive such information.
Investors Information
The Fund draws the investors’ attention to the fact that any investor will be only able to fully exercise his
investor rights directly against the Fund if the investor is registered himself and in his own name in the
shareholders’ register. In case where an investor invests in the Fund through an intermediary investing into
the Fund in his own name but on behalf of the investor, it may not always be possible for the investor to
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