Risks

The Fund's investments are subject to general market risks, including the potential for significant losses due to economic downturns, geopolitical events, inflation, interest rate changes, and other macroeconomic factors. The value of the Fund's assets may decline, and there is no guarantee against loss of principal. Past performance (including any backtested results) is not indicative of future results.

The Fund intends to employ quantitative, AI-driven, and algorithmic trading strategies focused on assets such as gold (XAUUSD), silver, and potentially other commodities, currencies, or equities. These strategies rely on proprietary models, historical data analysis, trend-momentum-ratio approaches (e.g., ATMR), and machine learning techniques.

The Fund's performance depends heavily on the Manager's and any sub-advisors' expertise in developing and adapting AI models. There is no assurance that the Manager will successfully implement the strategy or that the Fund will achieve its targeted returns. Valuation of positions, particularly in over-the-counter or thinly traded markets, may be subjective and could differ materially from actual realizable values upon liquidation.

Interests in the Fund are illiquid. Investors may face lock-up periods, redemption gates, suspension of redemptions, or penalties during periods of market stress or high withdrawal requests. There is no secondary market for Interests, and transfers are restricted. Investors should be prepared to hold their investment for an extended period and bear the economic risk of loss for an indefinite time.

The Fund relies on the Manager and its key personnel. The loss of one or more key individuals could adversely affect operations. Operational risks include errors in trade execution, failures in internal controls, third-party service provider issues (e.g., prime brokers, data vendors, technology platforms), and potential conflicts of interest. The Manager may face capacity constraints as assets under management grow.

The Fund operates in a complex regulatory environment. Changes in laws, regulations, or tax treatments (including UK HMRC rules, IR35/MSC considerations, US SEC/CFTC requirements, or UAE/DIFC/ADGM frameworks) could negatively impact the Fund or investors. The Fund is not registered under the Investment Company Act of 1940 and offers limited regulatory oversight and investor protections compared to mutual funds. Compliance failures, sanctions-related issues, or enforcement actions could result in losses or restrictions.

Investors may face complex tax consequences, including delays in tax reporting, UBTI for tax-exempt entities, or adverse impacts from tax law changes. Non-resident investors (e.g., those with UAE/Dubai structures or Utmost policies) should consider split-year treatment, enforcement limits, and international tax implications. Each investor should consult their own tax advisor.

The Manager and its affiliates may engage in other activities, including managing other accounts or investing for their own accounts, which could create conflicts. The fee structure (e.g., management and performance fees) may incentivize higher-risk strategies. Affiliates may provide services to the Fund and receive compensation.

Reliance on digital systems, AI platforms, and third-party vendors exposes the Fund to hacking, data breaches, system outages, or malicious attacks, which could lead to loss of assets, confidential information, or operational disruptions.

The Fund may concentrate investments in specific strategies, asset classes (e.g., precious metals), or counterparties. Adverse events affecting these could have a disproportionate impact. Counterparty defaults (e.g., brokers, clearing firms) may result in losses.

Investors subject to UAE, BVI, or other non-UK jurisdictions may face currency, political, regulatory, or enforcement risks. Sponsorship, residency, or foundation structures add additional complexities. Currency fluctuations between USD, GBP, AED and others could affect returns.