• Risk Considerations

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Alternative investments, by their very nature, may not be appropriate for all investors. The risks associated with alternative investments arise from several factors, dependent on the specific type of investment.

Some alternative investments:

         1. Use leverage and other speculative strategies that may increase the risk of loss
         2. Are greatly affected by fluctuations in currency values, interest rates or credit quality
         3. May delay distribution of important information on tax
         4. Do not provide periodic pricing or valuation information to investors
         5. May charge high fees

Before you invest, review closely the detailed explanation of all possible risks as well as all other facts in the offering documents.
THE CORLISS GROUP does not provide legal or tax advice. Kindly get in touch with your legal and tax advisors regarding your particular needs and issues.

There are risks associated with investing in alternatives, including hedge funds, funds-of-funds, private equity and real estate. This means investment objectives may not be attained and the investment program may eventually fail. Risks typically associated with hedge funds include investments in short sales, options, derivatives, "junk bonds", small-cap stocks, distressed securities, non-U.S. securities and illiquid investments. Private equity involves capital calls that may be made on short notice and failure to meet the capital calls can result in consequences that may include a total loss of investment, among other things. Investors in funds-of-funds bear management fees as well as other fees and expenses imposed by the funds-of-funds as well as the underlying hedge funds. Risks relating to real estate include debt, changes in general economic or local market conditions, tax, changes in government, real estate and zoning laws.

All investments in securities involve risk of the loss of capital. Alternative investments are sold to qualified investors only by a Confidential Offering Memorandum or Prospectus. Alternative investments provide limited liquidity and include, among other things, the risks inherent in investing in securities and derivatives, using leverage and engaging in short sales. An investment in an alternative investment fund is speculative, involves substantial risks, and should not constitute a complete investment program. An alternative investment fund may be highly leveraged. The volatility of the price of its interests may involve complex tax structures and there may be delays in distributing important tax information.

These funds may not be covered by the same regulatory requirements as mutual funds, and their fees and expenses may be high. The purpose of this summary is simply for information and does not constitute an offer to sell or a solicitation of an offer to buy interests in any fund. Interests are not deposits or obligations of, or guaranteed or endorsed by, any bank or other insured depository institution, and are not federally insured by the Federal Reserve Board, the Federal Deposit Insurance Corporation or any other government institution.