The document discusses the risks associated with credit default swaps for an Underlying Fund, including market availability of deliverable securities, auction protocol risks, and the role of the International Swaps and Derivatives Association Credit Derivatives Determination Committee. It also covers the risks of being a seller of credit default swaps, the use of recovery locks, and the evolving nature of the credit default swap market, especially in high yield securities. Additionally, it mentions investments in non-U.S. securities and emerging markets.
doj/DataSet10/EFTA01384669.pdf
{"document_type":"financial","document_subtype":"Investment Risk Disclosure","key_organizations":["International Swaps and Derivatives Association Credit Derivatives Determination Committee"],"reference_numbers":["DOC ID- 10746057.132","DB-SDNY-0085072","SDNY_GM_00231256","EFTA01384669"]}