SEC Form ADV Part 2A excerpt (EFTA01392271)

GLDUS128 Patrick Gerschel iCapital Advisors, LLC Form ADV Part 2A obligation to timely pay the Fund the amount owed under the certificate. Cash Position Risk A Fund may hold any portion of its assets in cash or cash equivalents at any time or for an extended time. The applicable Underlying Fund Manager or Sub-Adviser will determine the amount of such Fund's assets to be held in cash or cash equivalents at its sole discretion, based on such factors as it may consider appropriate from time