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18.10. Accounting Treatment Risk

The Manager may amortize certain expenses over a period, as it considers such treatment to be more equitable to the Investor. This treatment, in case it is deemed to be not in accordance with International Financial Reporting Standards, may result in showing a different Net Asset Value per Unit. If the difference between the Net Asset Value per Offering Memorandum and the Net Asset Value per International Financial Reporting Standards is considered material, a modification may be included in the Auditor’s Report.