Fund structure

The fund is structured as a besloten fonds voor gemene rekening (“BFGR”), a Dutch closed fund for joint account.

The manager’s application for registration under the AIFMD registration regime of section 2:66a of the Dutch Financial Supervision Act (Wft), the so-called ‘light’ managers, has been confirmed by the Netherlands Authority for the Financial Markets (“AFM”). This grants an exemption from the AIFMD licence for managing assets as referred to in section 2:65 of the Wft. This means that it does not fall under the supervision of the AFM and De Nederlandsche Bank N.V. (“DNB”).