Lack of Management Rights -
J.D. Young & Associates or the funds it represents may hold non-controlling interests in joint venture companies and, therefore, may have a limited ability to protect its positions in such companies.

Country risk -
The economies of these countries may differ as to GDP, GNP, rate of inflation and other macroeconomic factors. Political changes could effect the political or social stability of the country and adversely affect the economy of the country and the Group's investments in that country.  Some Asian countries have laws and regulations that currently limit or preclude direct foreign investment in certain industries or companies.  Prior government approval foreign investments or joint ventures may be required under certain circumstances in such countries, and the process of obtaining these approvals may require a significant expenditure of time and resources.

Tax Risk -
Any changes in the tax laws or other regulations or laws of any applicable jurisdiction could have an adverse impact on the Group's investments or access to suitable investment opportunities.

Legal Risk -
Many of the markets in which the Group expects to invest or represent do not have developed legal frameworks.  Many Asian markets provide inadequate legal remedies for breaches of contract, e.g. shareholder agreement.  Because the efficacy of the judicial systems in the Region varies, the Group may have difficulty in successfully pursuing claims as compared to Europe, the USA or other more developed countries.  Even if judgment is obtained, the enforcement of such judgment by the local courts cannot be assured.

Exchange Risk -
The accounts of the Group will be maintained in US dollars.  However the investments may be made in currencies other than US dollars.  The value of an investment may fall substantially as a result of currency fluctuation against the US dollar.  There may be costs incurred related to currency hedging arrangements and such arrangements might not be economically viable.

Leverage risk -
The Group may invest in companies whose capital structures employ a high degree of leverage.  Such investments involve a high degree of risk in that adverse fluctuations in cash flow or increased interest rates may impair their ability to meet obligations.

Reporting Risk -
Each country has different standards of accounting, auditing and financial reporting standards and practices.  These differences may arise in areas such as valuation of properties and other assets, accounting for depreciation, deferred taxation, inventory obsolescence, contingent liabilities and foreign exchange transactions.  The regulation, reporting and disclosure of information varies widely.

Governmental Risk -
Many governments in the Asia-Pacific countries exercise substantial influence over many aspects of the private sector.  In some cases, governments own or control many companies, including some of the largest in their respective countries.  Investment opportunity availability depends in part on governments continuing to liberalize their policies regarding foreign investment and further encourage private sector initiatives.