Risk of investing on the Moscow Stock Exchange MICEX RTS
Investing on the Moscow Exchange MICEX RTS (the “MICEX RTS”) involves greater risks than those generally associated with investing in developed markets, including risks of nationalization, expropriation of assets, high i nfl ation rates, and custodial risks. As a result, investments on the MICEX RTS are generally considered as volatile and illiquid. The regional sub custodian in Eastern Europe shall be ‘UniCredit Bank Austria AG’ with as local sub custodian in Russia ‘ZAO UniCredit Bank’.