METHOD OF STRUCTURING AN INVESTMENT FUND

摘要

Establishing a closed-end investment fund as a closed-end fund convertible toanexchange-traded fund. Converting the convertible closed-end fund into anexchange--traded fund when the weighed average unit trading price of the fundon a referenceexchange is at a greater than a predetermined discount to the net asset valueper unit ofthe fund consistently for a pre-determined period of time. Establishing anexchange--traded investment fund so as to have a two classes of fund units,each class of fund unitshaving distribution fees associated therewith, the distribution feesassociated with the firstclass being greater than the distribution fees associated with the secondclass.