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9.2. Reporting Obligations

The Fund shall prepare and submit an annual report, which is audited by an independent auditor and which ensures that during the period covered by the report, the Fund fulfilled the conditions of the AIF Law. The conditions are as follows: 

1.  The Fund is only addressed to Professional and Well-Informed Investors; and

2.  The Fund does not allow the issue of bearer Shares. 

3.  The Fund shall submit that report to CySEC within one month from the end of the period it refers to. 

4.  The annual report of the Fund shall include, at least, the following information: 

5.  The financial condition of the Fund, that is, its total assets, liabilities and its net assets;

6.  The number of the Shares issued and the number of the Investors of the Fund at the end of the reporting period;

7.  The Net Asset Value per Share; 

8.  An overview of the investment activities of the Fund during the reporting period and an overview of its portfolio as at the end of the reporting period;

9.  Any changes to the Offering Memorandum during the period covered by the report;

10.  The current risk profile of the Fund and the risk management systems adopted and applied by the Manager of the Fund to monitor those risks;

11.  Any changes to the maximum level of leverage, which the Manager may employ on behalf of the Fund, and any right of reuse of additional collateral or any guarantee provided in accordance with the leverage settlement and the total leverage used by the Fund the reporting period; and 

12.  An income and expense account for the reference period.

The annual report shall be prepared in accordance to the International Financial Reporting Standards (IFRSs).