NOTICE TO INVESTORS: Please note that on 7th August 2019, clarifications were made to the Investment Objectives and Policies of Merian Investment Management Limited’s UK-authorised funds. These clarifications do not affect the risk profile of the funds or the way the funds are managed. Further details can be found in
this shareholder notice and the relevant Prospectus. Prospective investors should refer to the relevant KIID before investing in the funds.

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