The Fund may be subject to the risks associated with companies operating in the education and digital technology sectors including rapidly changing technologies and obsolescence of existing products, fierce international competition, the loss of patent, copyright and trademark protections, cybersecurity risks related to their digital infrastructure and cyclical market patterns.

Education and digital learning companies may experience extreme price and volume fluctuations that are often unrelated to their operating performance.

The Fund also invests in small publicly-traded companies which may be less mature and therefore more vulnerable to adverse business or economic events and greater and more unpredictable price changes than larger companies, the technology sector as a whole or the stock market as a whole.

The Fund invests in global equity securities. As such there is a risk of loss arising from exchange rate fluctuations or exchange control regulations.

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.