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QUALIFIED CLIENT

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The U.S. Securities Exchange Commission (SEC) defines what constitutes a "qualified client." According to Rule 205-3 of the Investment Adviser's Act, a qualified client is an individual or entity that:

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• has $1 million or more of assets under management with the manager after investment; or

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• has a net worth of $2,100,000 prior to investment (excluding the value of the investor's primary residence). 

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