The document is a Form ADV Part 2A for iCapital Advisors, LLC, discussing various financial risks and strategies associated with investment funds. It covers topics such as cash position risk, leverage, and derivatives risk. The document explains how funds may hold assets in cash or cash equivalents, the use of leverage in investment strategies, and the risks associated with derivatives. It highlights the potential for increased income or capital appreciation through leverage, but also the special risks and interest expenses it entails. The document also discusses the complexities and risks of using derivatives in investment strategies.
doj/DataSet10/EFTA01389595.pdf
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