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Changes to tax rates, the PIE tax regime or tax legislation generally could also affect your returns (positively or negatively)." }, { "risk_name": "Swing pricing risk (ARK Disruptive Innovation Fund)", "description": "The Amova ARK Disruptive Innovation Fund's Underlying Fund may adopt a swing pricing mechanism whereby adjustments to the NAV per share can be made to counter the impact of dealing and other costs when deemed significant. As a consequence of the application of swing pricing, the volatility of the Underlying Fund's NAV may be higher than the volatility of the Underlying Fund's portfolio." }, { "risk_name": "Deferral and suspension of withdrawals risk", "description": "Withdrawals may be deferred if requests over a 3-month period exceed 5% of total Units on issue, or suspended if requests exceed 20% of Units on issue over three months. 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The hurdle rate for the fund is 5% above the Reserve Bank of New Zealand Official Cash Rate over a 12-month financial period after deducting our management fee and expenses. The high-water mark cannot be reset unless the Amova Concentrated Equity Fund's performance exceeds that mark. The performance fee does not have a maximum limit.", "Amova Asset Management Europe Limited (AAME) have been engaged to manage the global equity assets of the Amova Wholesale Global Shares Fund. AAME is a related party of Amova NZ, both parties having common ownership. Amova Asset Management Americas Inc. (AAMA) manages the assets of the Amova ARK Disruptive Fund Innovation Fund. AAMA is a related party of Amova NZ, both parties having common ownership.", "Public Trust is the Scheme's Supervisor. Public Trust has delegated certain custodial duties to BNP Paribas Fund Services Australasia Pty Limited including safeguarding asset title and the control and operation of all Scheme bank accounts. 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