EFTA Document EFTA01392275

GLDUS128 Patrick Gerschel iCapital Advisors, LLC Form ADV Part 2A Funds. The Gen II relationship will be managed by several iCapital executives. BNY Capital Corporation ("BNY") BNY holds a minority ownership interest in Institutional Capital Network, Inc., the parent company of iCapital. Certain of the Funds hold cash in accounts at BNY and utilize BNY administrative services. This relationship may create an incentive to select BNY to provide services in respect of the Funds. iCapital I