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Alternatively, the Direc","page_number":106,"box":{"x":121,"y":810,"width":332,"height":12}},{"id":"c557e1c6-fca3-4774-9093-b6439b72a854","block_type":"box","text":"tors may arrange for the Fund to borrow monies in","page_number":106,"box":{"x":454,"y":810,"width":430,"height":12}},{"id":"263012b2-d8bc-4ac7-8ddd-4b9da289345a","block_type":"box","text":"accordance with the “Borrowing and Lending Powers” section set out above and the costs of","page_number":106,"box":{"x":121,"y":826,"width":763,"height":13}},{"id":"851f0233-18cd-444d-bc2b-28a7acbcc9a1","block_type":"box","text":"such borrowing will be apportioned as aforesaid to such extent as the Directors may consider","page_number":106,"box":{"x":121,"y":842,"width":763,"height":13}},{"id":"5097c351-c38e-46fb-acb1-10c9e74e1e60","block_type":"box","text":"fair and equitable. The","page_number":106,"box":{"x":121,"y":859,"width":185,"height":13}},{"id":"74af2b78-34d9-43cb-a68f-ae1db06d7214","block_type":"box","text":"Directors consider that the provisions of this paragraph shall only be","page_number":106,"box":{"x":314,"y":859,"width":570,"height":13}},{"id":"8ae07471-4899-4934-bf9b-00740fe0a1ba","block_type":"box","text":"utilised in exceptional circumstances.","page_number":106,"box":{"x":120,"y":875,"width":301,"height":13}},{"id":"64fa88f9-ba49-4722-99cb-73505ab70e86","block_type":"box","text":"107","page_number":107,"box":{"x":487,"y":928,"width":27,"height":9}},{"id":"3ff6922b-078d-4a8d-a0ca-a010ef1ae5f9","block_type":"box","text":"Payment of Redemption Proceeds","page_number":107,"box":{"x":121,"y":89,"width":289,"height":12}},{"id":"6d804dd3-4127-457a-b157-850e4f3e562f","block_type":"box","text":"The amount due on redemption of Shares will be paid by telegraphic transfer to an account","page_number":107,"box":{"x":121,"y":121,"width":763,"height":13}},{"id":"7ba95f1f-e324-41f3-a155-a10731f6d7e4","block_type":"box","text":"nominated by the Shareholder in the Base Currency of the relevant Sub","page_number":107,"box":{"x":121,"y":138,"width":572,"height":13}},{"id":"6ed4dcbb-410b-4039-94e8-937fc2c4f9ad","block_type":"box","text":"-","page_number":107,"box":{"x":694,"y":144,"width":5,"height":1}},{"id":"9f2e81a2-44f7-40de-be3b-cf4d2a99472d","block_type":"box","text":"Fund (or in such other","page_number":107,"box":{"x":701,"y":138,"width":183,"height":13}},{"id":"edf5a4da-4130-4641-b5f3-62011fec5e8d","block_type":"box","text":"currency as the Directors shall determine) by the Settlement Date. 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In this event, the limitation will apply p","page_number":107,"box":{"x":199,"y":564,"width":326,"height":13}},{"id":"5fe13387-caa4-4dbf-a7ef-3b0d14edc3af","block_type":"box","text":"pro rata","page_number":107,"box":{"x":523,"y":566,"width":69,"height":11}},{"id":"d730fa08-4e78-4e22-90d8-86c969f5acfd","block_type":"box","text":"so that all Shareholders wishing to","page_number":107,"box":{"x":599,"y":564,"width":285,"height":13}},{"id":"45295633-83f0-4680-a05e-4b9d94e17b7f","block_type":"box","text":"have Shares of that Sub","page_number":107,"box":{"x":121,"y":580,"width":196,"height":10}},{"id":"b5eb7603-2f32-4bc1-8414-53375eed9490","block_type":"box","text":"-","page_number":107,"box":{"x":318,"y":586,"width":5,"height":1}},{"id":"edeaa81c-ecd9-4b55-9b7a-e10b8b1b1bfc","block_type":"box","text":"Fund redeemed on that Dealing Day realise the same proportion of","page_number":107,"box":{"x":324,"y":580,"width":560,"height":13}},{"id":"aeea8d94-6643-429b-be9a-a57928abe40f","block_type":"box","text":"such Shares. Shares not redeemed, but which would otherwise have been redeemed, will be","page_number":107,"box":{"x":121,"y":596,"width":763,"height":13}},{"id":"e9b1e59b-195b-4f55-9f03-d6c82d1a09fa","block_type":"box","text":"carried forward for redemption on the next","page_number":107,"box":{"x":121,"y":613,"width":358,"height":13}},{"id":"6a7236f9-00b6-4990-bafe-705698228902","block_type":"box","text":"Dealing Day. If requests for redemption are so","page_number":107,"box":{"x":487,"y":613,"width":397,"height":13}},{"id":"856fd460-3d6f-43a0-bb8f-5936abdb1a3b","block_type":"box","text":"carried forward, the Administrator will inform the Shareholders affected.","page_number":107,"box":{"x":121,"y":629,"width":587,"height":13}},{"id":"2138fcd6-a3ce-456e-8993-f78187ae5a65","block_type":"box","text":"The Articles contain special provisions where a redemption request received from a","page_number":107,"box":{"x":121,"y":662,"width":763,"height":13}},{"id":"56c68376-6d3e-4d19-9e05-02a4ca92e875","block_type":"box","text":"Shareholder would result in Shares representing more than five per cent of the Net Asset Value","page_number":107,"box":{"x":122,"y":678,"width":762,"height":13}},{"id":"f76c5f7a-fb0b-49d5-8358-53043e864819","block_type":"box","text":"of any Sub","page_number":107,"box":{"x":121,"y":695,"width":88,"height":13}},{"id":"8965590e-911c-4412-bbcd-e5d894836570","block_type":"box","text":"-","page_number":107,"box":{"x":211,"y":701,"width":5,"height":1}},{"id":"025b007d-73f2-4850-91b5-d19712c3733b","block_type":"box","text":"Fund being redeemed by the Fund on any Dealing Day. 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in","page_number":108,"box":{"x":121,"y":318,"width":242,"height":10}},{"id":"978b1ff3-8a02-414d-9298-b105124af242","block_type":"box","text":"the relevant section of Part 1","page_number":108,"box":{"x":363,"y":318,"width":236,"height":10}},{"id":"1305721b-bf3a-4e3c-9332-ee18bf881860","block_type":"box","text":"for each","page_number":108,"box":{"x":600,"y":318,"width":69,"height":10}},{"id":"df415c5d-bc7e-4474-868f-54554b7a5f82","block_type":"box","text":"Sub","page_number":108,"box":{"x":671,"y":318,"width":29,"height":10}},{"id":"122ac065-f7e5-4dbc-a111-7e78a3b98207","block_type":"box","text":"-","page_number":108,"box":{"x":702,"y":324,"width":5,"height":1}},{"id":"f6f26ca6-3cc5-4c04-874b-01fa2fb51aae","block_type":"box","text":"Fund.","page_number":108,"box":{"x":708,"y":318,"width":44,"height":10}},{"id":"0b8f9de5-c5c7-459e-992b-3c5dea256d95","block_type":"box","text":"The Fund reserves the right to redeem any Shares which are or become owned, directly 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Investments listed or traded on a regulated market but acquired at a premium or at a","page_number":113,"box":{"x":120,"y":88,"width":764,"height":13}},{"id":"1b0c4474-f313-4e0c-9b17-8b48a006c7e2","block_type":"box","text":"discount outside the relevant market may be valued taking into account the level of premium","page_number":113,"box":{"x":121,"y":105,"width":763,"height":13}},{"id":"1c7cb2eb-9df0-4542-bf5e-e681396ffff5","block_type":"box","text":"or discount at the date of valuation.","page_number":113,"box":{"x":121,"y":121,"width":283,"height":10}},{"id":"ea968d83-405d-4324-8fc3-c4b3531c390f","block_type":"box","text":"The Articles also provide that the value of any investment which is not listed or dealt in on a","page_number":113,"box":{"x":121,"y":154,"width":763,"height":13}},{"id":"2fc8ebfe-5b23-41be-96af-b9db44fdb591","block_type":"box","text":"Market or of any investment which is normally listed or dealt in on a Market but in respect of","page_number":113,"box":{"x":121,"y":170,"width":763,"height":13}},{"id":"d1105e52-8870-4423-8ca3-88d754d9937a","block_type":"box","text":"which (i","page_number":113,"box":{"x":121,"y":187,"width":66,"height":13}},{"id":"9c8b29a7-c42d-4738-8399-9fd8d6315f48","block_type":"box","text":") the Manager (as the Fund's delegate) shall determine that the amortised cost method","page_number":113,"box":{"x":188,"y":187,"width":696,"height":13}},{"id":"5799e581-754a-4c8a-965c-e9596112662d","block_type":"box","text":"of valuation is not appropriate and (ii) the middle market price is currently unavailable or the","page_number":113,"box":{"x":121,"y":203,"width":763,"height":13}},{"id":"d39e745e-4a5e-47f7-bd7d-ca7debd37430","block_type":"box","text":"current price of which does not in the opinion of the Manager represent fa","page_number":113,"box":{"x":121,"y":220,"width":586,"height":13}},{"id":"01afd7cc-9826-4061-974a-d8cfcd978d21","block_type":"box","text":"fair market value shall","page_number":113,"box":{"x":706,"y":220,"width":178,"height":10}},{"id":"dc03702a-c4bc-4555-a699-8f5dd9daa33e","block_type":"box","text":"be the probable realisation value thereof estimated with care and in good faith by the Manager","page_number":113,"box":{"x":120,"y":236,"width":764,"height":13}},{"id":"d88ae382-45cb-45b0-97c9-807a6b035640","block_type":"box","text":"or a competent person appointed by the Manager, in each case approved, for such purpose, by","page_number":113,"box":{"x":121,"y":252,"width":763,"height":13}},{"id":"c18b1d08-16e4-423e-a783-364de12289b4","block_type":"box","text":"the Depositary. In determining the probable r","page_number":113,"box":{"x":121,"y":269,"width":397,"height":13}},{"id":"771cc657-7433-4a40-af94-a621715d343c","block_type":"box","text":"ealisation value of any such investment, a","page_number":113,"box":{"x":519,"y":269,"width":365,"height":13}},{"id":"5dd838e7-e7af-4b1e-b0f9-4a376fca886f","block_type":"box","text":"certified valuation thereof provided by a competent independent person or, in the absence of","page_number":113,"box":{"x":121,"y":285,"width":763,"height":13}},{"id":"f125a17e-7347-4685-8746-d2206e39a032","block_type":"box","text":"any independent person, the Investment Manager, who in each case shall have been approved","page_number":113,"box":{"x":121,"y":302,"width":763,"height":12}},{"id":"08102579-a6b9-4317-a7f1-58c8d2ccd949","block_type":"box","text":"for such purposes by the Depos","page_number":113,"box":{"x":121,"y":318,"width":252,"height":13}},{"id":"4f9b0761-20c4-41d4-9c79-f0407aa23628","block_type":"box","text":"itary, shall 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