Home / Offering Memorandum / CONVERSION OF UNITS / Limitation on Conversions

15.3. Limitation on Conversions 

The Manager shall ensure that the Investment Compartments have at all times enough liquidity to satisfy any conversion request. If the redemption and conversion requests in aggregate exceed 10% of the Net Asset Value of the relevant Investment Compartment at any time, the Manager may decide to delay, without any unnecessary delay, the execution of such applications until the corresponding amount of assets of the Investment Compartment have been realized.