| Investment Objective: |
The KraneShares China Internet & Covered Call Strategy ETF employs a covered call strategy. The Fund invests at least 80% of its net assets in the component securities of the CSI Overseas China Internet Index or in instruments that have economic characteristics similar to those in the Index and writes (sells)covered call options on the Index or in instruments that have economic characteristics similar to writing covered call options on the Index. Currently, the Fund intends to invest in KraneShares CSI China Internet ETF which is an ETF advised by Krane that seeks to track the Index, and to write (sell) covered call options on the Underlying Fund. The Fund intends to write covered call options on the Underlying Fund on the full amount of its investment in the Underlying Fund. The Fund will write (sell) at the money Flexible Exchange call options on the Underlying Fund. FLEX options are exchange traded options contracts with uniquely customizable terms like exercise price, style, and expiration date. Each FLEX option written will generally (i) have an expiration date greater than 30 days (ii) have an exercise price generally at the prevailing market price of the Underlying Fund (iii) be traded on a national securities exchange. |
