Risk Disclosures

Investing carries substantial risk, including the risk of total loss of capital. This page summarises principal categories of risk relevant to the activities of RND Capital. It is informational only and is not a complete statement of all risks.

1. General investment risk

The value of any investment can rise and fall. Past performance is not indicative or predictive of future results. There is no assurance that any investment objective will be achieved.

2. Investment risk

Investment activity may experience significant volatility, illiquidity, and dislocation in response to economic, political, regulatory, technological, or other developments, any of which may materially affect the value of positions.

3. Leverage risk

The use of leverage can magnify gains but can also magnify losses. Adverse movements may result in losses that exceed the initial capital deployed.

4. Liquidity risk

Some positions may experience reduced liquidity. RND Capital may be unable to act at prices it considers fair, or to close out positions in the timeframe it would otherwise prefer.

5. Operational and counterparty risk

Operational activity depends on counterparties, service providers, banks, and technology infrastructure. Operational disruptions, fraud, cyber-incidents, or counterparty default may cause losses.

6. Regulatory and legal risk

Laws, regulations, and tax rules applicable to RND Capital's strategies are subject to change. Changes may adversely affect the strategies, their tax treatment, or RND Capital's ability to operate in particular jurisdictions.

7. Risk management is not risk elimination

RND Capital maintains internal risk-management processes, but no process can eliminate risk. Investors and counterparties should consider whether they can bear the risks described above and seek independent professional advice before making decisions.