The Investor represents that it is a Qualifying Investor as such term is defined in the Central Bank's AIF Rulebook. A "Qualifying Investor" has the meaning, which as at the date of the most recent Prospectus is: (i) a professional client within the meaning of Annex II of Directive 2004/39/EC (Markets in Financial Instruments Directive) ("MiFID"); or (ii) an investor who receives an appraisal from an European Union credit institution, a MiFID firm or a Undertakings for Collective Investments in Transferable Securities ("UCITS") management company that the investor has the appropriate expertise, experience and knowledge to adequately understand the investment in the Fund; or (iii) an investor who certifies that it is an informed investor by providing the following: (a) confirmation (in writing) that the investor has such knowledge of and experience in financial and business matters as would enable the investor properly to evaluate the merits and risks of the prospective investment; or (b) confirmation (in writing) that the investor's business involves, whether for its own account or the account of others, the management, acquisition or disposal of property of the same kind as the property of the Fund; and in each case so certifies this fact in writing to the Fund and certifies that the investor is aware of the risks involved in the proposed investment and that inherent in such investment is the potential to lose all of the sum invested.