The Fund may be subject to the risks associated with financial technology companies and other technologies associated with digital and internet based payments and digital currency, including the risks to companies operating in the industry arising from: fierce domestic and international competition and the potential for rapidly changing technologies and the risk of obsolescence of existing products, leading to reduced revenues and/or profit margins for individual companies and/or companies operating in particular segments; the loss of patent, copyright and trademark protections; evolving industry standards; unsophisticated and/or evolving or divergent regulatory frameworks which may become less favourable or even prohibitive in one or more countries over time and which may impede the adoption of digital payment products and services; and cybersecurity and associated risks in relation to users’ personal data and other company information and intellectual property.

Some companies may be smaller and less experienced companies, with limited product lines, markets or financial resources and fewer experienced management or marketing personnel. They may experience extreme price and volume fluctuations that are often unrelated to their operating performance.

The Index is typically comprised of a mix micro, small, mid, and large capitalisation companies. Micro and small capitalisation companies may be more vulnerable to adverse business or economic events than larger, more established companies and may underperform other segments of the market or the equity market as a whole. Securities of micro and small capitalisation companies generally trade in lower volumes, are less liquid and are often more vulnerable to market volatility and greater and more unpredictable price changes than larger capitalisation stocks or the stock market as a whole.

Other: (1) Third party service providers (such as the ICAV’s depositary) may go bankrupt and fail to pay money due to the Fund or return property belonging to the Fund. (2) If the Index provider stops calculating the Index or if the Fund’s license to replicate the Index is terminated, the Fund may have to be closed. (3) It may not always be possible to buy and sell the Fund’s Shares on a stock exchange or at prices closely reflecting the Net Asset Value. (4) There is no capital guarantee or protection on the value of the Fund and investors can lose all the capital invested in the Fund. (5) Please refer to the “Risk Factors” section of the ICAV’s Prospectus and the Fund Supplement.