The document outlines the risks associated with various financial instruments and strategies used by funds managed by iCapital Advisors, LLC. It discusses the risks of derivatives, warrants, stock purchase rights, and debt securities, including high yield or 'junk' bonds. The document highlights the potential for high volatility, illiquidity, and the speculative nature of these investments, as well as the impact of interest rate changes on debt securities.
doj/DataSet10/EFTA01389596.pdf
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