Pandemic Risk. An outbreak of an infectious coronavirus in 2020 developed into a global pandemic that resulted in numerous disruptions in the market and has had significant economic impact leaving general concern and uncertainty. The impact of this pandemic and other epidemics and pandemics that may arise in the future could affect the economies of many nations, individual companies and the market in general ways that cannot necessarily be foreseen at the present time. • Risk of Small Capitalization and Emerging Growth Securities — Small capitalization or emerging growth companies may have limited product lines or markets. They may be less financially secure than larger, more established companies. They may depend on a small number of key personnel. If a product fails, or if management changes, or there are other adverse developments, an Underlying Fund’s investment in a small cap or emerging growth company may lose substantial value. Small capitalization or emerging growth securities generally trade in lower volumes and are subject to greater and more unpredictable price changes than larger capitalization securities or the stock market as a whole. • Risk of Middle Capitalization Securities — Middle capitalization company stocks can be more volatile than stocks of larger companies due to limited product lines, financial and management resources, and market and distribution channels. Their shares can be less liquid than those of larger companies, especially during market declines. • Geographic Concentration Risk — An Underlying Fund that invests a substantial amount of its assets in issuers located in a single country or a limited number of countries assumes the risk that economic, political and social conditions in those countries will have a significant impact on its investment performance. • Emerging Markets Risk — Foreign investment risk may affect the prices of securities issued by foreign companies located in developing countries more than those in countries with mature economies. For example, many developing countries have, in the past, experienced high rates of inflation, expropriated assets or sharply devalued currencies against the U.S. dollar, thereby causing the value of investments in companies located in those countries to decline. Transaction costs are often higher in developing countries and there may be delays in settlement procedures. • Investing in a Master Portfolio — Investors in a feeder fund will acquire an indirect interest in the corresponding mas...
Pandemic Risk. The World Health Organization has declared Coronavirus/COVID- 19 a pandemic, and the Governor of California has declared that a State of Emergency exists in California related thereto. Coronavirus/COVID-19 is extremely contagious. Federal, state, and local governments, and health agencies have issued various directives and guidelines regarding social distancing and gatherings. The District has instructed the Club to implement safety measures designed to mitigate the spread of Coronavirus/COVID-19, the District cannot guarantee that students or other attendees of the Club’s program will not be exposed to or become infected with COVID-19 while at Mayflower Elementary School campus. Organizing, Attending or participating in such a program could increase the risk of contracting COVID-19. The Club understands and acknowledges the contagious nature of Coronavirus/COVID-19 and the increased risk of infection related thereto in connection with programs. Specifically, the Club understands and acknowledges that its staff and students may be exposed to or infected by COVID-19 as a result of staff supervising and student attending or participating in its program, which may result in personal injury including serious illness, permanent disability, and death. The Club understands that exposure to or infection by COVID-19 may result from the actions or omissions, including the negligence, of itself and of others, including but not limited to: (1) other participants, attendees, or their families; (2) members of the public; and (3) employees, volunteers, agents, representatives, officers, administrators, or other individuals acting on behalf of the District. The Club hereby voluntarily and knowingly agrees to assume all of the foregoing risks and all other risks arising out of or related to and voluntarily and knowingly accept sole responsibility for any injury to the program members (including, but not limited to, personal injury, disability, and death), illness, damage, loss, claims, liability, or expense, of any kind, that we may experience or incur in connection with student’s attendance or participation in program.
Pandemic Risk. An outbreak of an infectious coronavirus in 2020 developed into a global pandemic that resulted in numerous disruptions in the market and has had significant economic impact leaving general concern and uncertainty. The impact of this pandemic and other epidemics and pandemics that may arise in the future could affect the economies of many nations, individual companies and the market in general ways that cannot necessarily be foreseen at the present time. ● Risk of Small Capitalization and Emerging Growth Securities Small capitalization or emerging growth companies may have limited product lines or markets. They may be less financially secure than larger, more established companies. They may depend on a small number of key personnel. If a product fails, or if management changes, or there are other adverse developments, an Underlying Fund’s investment in a small cap or emerging growth company may lose substantial value. Small capitalization or emerging growth securities generally trade in lower volumes and are subject to greater and more unpredictable price changes than larger capitalization securities or the stock market as a whole. ● Risk of Middle Capitalization Securities – Middle capitalization company stocks can be more volatile than stocks of larger companies due to limited product lines, financial and management resources, and market and distribution channels. Their shares can be less liquid than those of larger companies, especially during market declines. ● Geographic Concentration Risk – An Underlying Fund that invests a substantial amount of its assets in issuers located in a single country or a limited number of countries assumes the risk that economic, political and social conditions in those countries will have a significant impact on its investment performance.
