¹What is tokenization? July 25, 2024 | https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-tokenization

²Tokenized Asset Coalition (TAC) Report - as of September 2024. https://22049776.fs1.hubspotusercontent-na1.net/hubfs/22049776/TAC%20State%20of%20Tokenization%202024%20Report.pdf

³Beyond asset tokenisation: The evolving role of asset servicing - as of February 2023 https://www.northerntrust.com/content/dam/northerntrust/pws/nt/documents/asset-servicing/beyond-asset-tokenisation.pdf

⁴https://app.rwa.xyz/ - as of November, 2024

⁵https://docs.openeden.com/treasury-bills-vault/product-structuring

⁶https://usyc.hashnote.com/

⁷https://docs.ondo.finance/qualified-access-products/cash-management-101

⁸https://app.rwa.xyz/ - as of November, 2024

⁹https://www.fasanara.com/insights/posts/asset-tokenisation-transforming-banking-more

Fasanara Capital Limited is authorised and regulated by the Financial Conduct Authority’

Investors should consult with their financial advisor about the suitability of this fund in their portfolio. The Fund's shares are offered for purchase exclusively through, and subject to the terms of, its prospectus.

Investing in the fund involves a high degree of risk, including the risk that you may receive little or no return on your investment or that you may lose part or all of your investment. This is a close-end interval and it not intended to be a typical traded investment. Limited liquidity is provided to shareholders only through the fund's quarterly repurchase offers for no less than 5% of the fund's shares outstanding at net asset value. Regardless of how the fund performs, there is no guarantee that shareholders will be able to sell all of the shares they desire in quarterly repurchase offer.

There currently is no secondary market for the Fund’s shares and the Fund expects that no secondary market will develop. Shares of the Fund will not be listed on any securities exchange, which makes them inherently illiquid.

There is no assurance that quarterly distributions paid by the Fund will be maintained at the targeted level or that dividends will be paid at all. The Fund’s distributions may be funded from unlimited amounts of offering proceeds or borrowings, which may constitute a return of capital and reduce the amount of capital available to the Fund for investment. A return of capital to shareholders is a return of a portion of their original investment in the Fund, thereby reducing the tax basis of their investment.

This material is provided for general and educational purposes only, is not intended to provide legal or tax advice, and is not for use to avoid any penalties that may be imposed under U.S. federal tax laws. Contact your attorney or other advisor regarding your specific legal, investment or tax situation.

Investing involves risk. Investment return and principal value of an investment will fluctuate, and an investor’s shares, when repurchased, may be worth more or less than their original cost. Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Below-investment-grade (“high yield” or "junk") bonds are more at risk of default and are subject to liquidity risk. Credit instruments that are rated below investment grade (commonly referred to as “high yield” securities or “junk bonds”) are regarded as having predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. Collateralized loan obligations (CLO’s) are debt instruments but also carry additional risks related to the complexity and leverage inherent in the CLO structure. Because of the risks associated with investing in high yield securities, an investment in the Fund should be considered speculative. Some of the credit instruments will have no credit rating at all. The Fund may invest in loans and the value of those loans may be detrimentally affected to the extent a borrower defaults on its obligations. Senior loans are typically lower-rated and may be illiquid investments, which may not have a ready market. Investments in lesser-known and middle-market companies may be more vulnerable than larger, more established organizations. Distressed credit investments are inherently speculative and are subject to a high degree of risk. Leverage (borrowing) involves transaction and interest costs on amounts borrowed, which may reduce performance. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. The Fund is classified as “non-diversified” and may invest a greater portion of its assets in the securities of a single issuer.

Investors should carefully consider the investment objective, risks, charges and expenses of the Fund before investing. This and other important information about the Fund is in the prospectus which can be obtained by contacting your financial advisor or on downloaded via this webpage. The prospectus should be read carefully before investing.