Risk Disclosure

Last Updated: October 21, 2026

Investing Involves Risk

Investing involves the possibility of losing some or all invested capital. No investment strategy, research process, or risk management approach guarantees a profit or prevents losses.

This disclosure summarizes general risks relevant to public equities, digital assets, and related strategies discussed on the Global Legacy Capital Fund website. It does not describe every risk of a particular investment.

Specific risks depend on the investment’s holdings, structure, strategy, service providers, and governing documents.

Market and Economic Risk

Investment values may decline because of economic conditions, interest rates, inflation, geopolitical events, investor sentiment, or unexpected developments.

Losses can occur rapidly. Assets that previously behaved differently may decline together during periods of market stress.

Public Equity Risk

Equities are exposed to company-specific and broader market risks. Changes in earnings, competition, management, financing, regulation, or business prospects can reduce their value.

A company’s failure may result in the loss of an entire investment. Smaller or less established companies may be more volatile and less liquid.

Digital Asset Risk

Digital assets can experience substantial volatility and may lose most or all of their value.

Value may depend on adoption, market confidence, network participation, technology, regulatory developments, and supporting infrastructure.

Digital asset markets may involve fragmented pricing, limited transparency, manipulation, and varying levels of oversight.

Custody and Cybersecurity Risk

Theft, cyberattacks, phishing, compromised credentials, lost private keys, and operational failures can cause permanent loss.

Digital asset transactions may be irreversible. An incorrect address or incompatible network may prevent recovery.

Exchanges, custodians, wallet providers, and other service providers may suspend withdrawals, restrict access, fail, or become insolvent. Recovery depends on applicable law, contractual terms, and custody arrangements.

Technology and Protocol Risk

Blockchain networks and related systems may experience congestion, outages, forks, governance disputes, software defects, or changes to operating rules.

Where smart contracts or decentralized protocols are used, coding errors, exploits, dependencies, and failures in connected systems can cause losses. Technical review does not eliminate these risks.

Liquidity Risk

An investment may be difficult to sell promptly or at a reasonable price. Trading activity can decline, market platforms may halt trading, and orderly exits may become unavailable.

Where investment terms include lockups, withdrawal limits, redemption gates, or transfer restrictions, investors may be unable to access capital when desired.

Concentration Risk

Concentration in a limited number of assets, issuers, sectors, or themes can increase volatility and the effect of individual losses.

Diversification may reduce certain exposures but does not eliminate risk or guarantee returns.

Valuation Risk

Investment values may rely on estimates, models, market quotations, or third-party information.

An estimated or reported value may differ materially from the amount obtainable in an actual sale, particularly for illiquid or thinly traded assets.

Counterparty and Operational Risk

Losses can arise from the failure of brokers, custodians, exchanges, issuers, administrators, banks, or other counterparties.

Human error, fraud, technology interruptions, and failures in internal processes can also affect investments and their administration.

Leverage and Derivatives

Where permitted and used by a particular strategy, borrowing, margin, short positions, or derivatives can amplify losses and introduce financing, liquidation, and counterparty risks.

Certain exposures can produce losses greater than the amount initially committed to a position.

Regulatory and Tax Risk

Changes in laws, enforcement, or tax treatment may affect an investment’s value, availability, transferability, or permissible use.

The treatment of digital assets can differ between jurisdictions and remain uncertain. Tax consequences vary by investor and may change.

Fees, Expenses, and Conflicts

Fees, transaction costs, financing charges, taxes, and other expenses reduce returns.

Potential conflicts can arise from compensation, personal holdings, affiliated activities, allocation decisions, or service-provider relationships. Review the agreements and disclosures relevant to the specific investment or relationship.

Limits of Research and Risk Management

Investment decisions rely on information, assumptions, and judgments that may be incomplete or incorrect.

Research, due diligence, monitoring, and position sizing cannot identify or prevent every adverse event.

Statements about capital preservation, stewardship, discipline, or downside management describe objectives and processes. They do not guarantee principal protection or positive returns.

Investor Protections

Do not assume that an investment, digital asset, platform balance, or custody arrangement is insured or covered by a securities investor protection program.

Any protection depends on the particular entity, account, asset, and circumstances. Ordinary investment losses are not generally covered by those protections.

Assessing Suitability

Before investing, consider your financial circumstances, investment experience, time horizon, liquidity needs, and ability to bear losses.

Review the applicable offering documents, agreements, fees, and investment-specific disclosures. Seek independent professional advice where appropriate.

This general disclosure does not replace the documents governing an actual investment.