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ASI HFRI-I Liquid Alternatives UCITS Fund (the “Fund”) Sustainability Risks The Investment Manager of the ASI HFRI-I Liquid Alternatives UCITS Fund, Aberdeen Standard Investments, (the “Investment Manager”) has determined that sustainability risk (which is defined as an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the relevant investment) is not relevant for the Fund. The Fund is an index tracking fund and hence no investment discretion is exercised by the Investment Manager in the management of the portfolio of the Fund, nor is consideration given to sustainability risks. It should be noted however that the Investment Manager’s engagement with companies, which is driven by the consideration of ESG factors, may result in changes to an issuer’s ESG approach, with the result that whilst the portfolio holdings may remain unchanged, the shape of the holding may be positively impacted by ESG considerations of the issuer. Further information on the Aberdeen Standard Investments ESG integration approaches by asset classes can be found at