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3.4. Investor Units

The Investor Units shall bear the rights set forth hereunder and elsewhere in the Memorandum and Articles:

1.  Voting Rights: The Investor Units do not confer upon the holders thereof the right to receive notice or to attend and vote at any General Meeting of the Company.

2.  Appointment of Directors: The Investor Units do not confer any rights to appoint Directors; 

3.  Dividend Rights: The holders of Investor Units may be entitled to receive dividends and/or other distributions to be made out of the profits of the particular Investment Compartment which they hold Units;

4.  Redemption Rights: The Investor Units may be redeemed on such terms and in such manner as described in the Memorandum & Articles;

5.  Right over liquidation proceeds: In the event of the liquidation, dissolution or winding up of the Company or distribution of its assets in anticipation thereof, the holders of Investor Units, subject to third parties preferential rights of payment, shall be entitled to (a) return of their capital and (b) (pro rata) the NAV of the particular Investment Compartment which the Investor hold Units subject to the repayment of capital corresponding to the holders of the Investor Units.

Each Investment Compartment of the Fund will be represented by a specific issue class of Investor Units and any reference as to the issuance or sale of Investment Units shall refer to the a specific class of Investor Units.

Investor Units constituting a Class hereof may be denominated in any currency and different Classes of Investor Units in the particular Investment Compartment may further be denominated in different currencies as described in the Memorandum or the Supplement of the particular Investment Compartment.

Investor Units of each Investment Compartment shall be issued to Investors in registered form. Investor Units shall carry no voting rights and no pre-emptive subscription rights. In the event of the liquidation of any Investment Compartment, each Investor Unit of the particular Investment Compartment is entitled to its proportionate share of the particular Investment Compartment assets after payment of the particular Investment Compartment  debts and expenses, taking into account the particular Investment Compartment rules for the allocation of assets and liabilities as set out in the Memorandum and Articles of Association and the relevant Supplement.