IMPORTANT LEGAL INFORMATION

NOTE: The information on this Website is primarily intended for financial advisers. However, all references hereafter to ‘investors’ will be construed so as to include both private and professional investors, be they current or prospective investors (in respect of professional investors, this applies equally to investments for their own account as well as in a distribution capacity).

Permitted Business

NexAM S.A. is a public limited company incorporated under the laws of France with its head office at 127, avenue des Champs Elysées, F- 75008 PARIS. It is registered with the ‘Registre du Commerce et des Sociétés’ under number RCS Paris B 322 491 309. NexAM S.A. is a portfolio management company subject to the supervision of the ‘Autorité des Marchés Financiers’, with which it has been registered since March 1997 under number GP-97-27.

Financial Promotion

The funds described on this Website are managed by NexAM S.A., and can be actively marketed in certain jurisdictions only, as the funds may not be registered or authorized for public distribution in each jurisdiction. It is the responsibility of investors to be aware of the applicable laws and regulations of their country of residence in respect of financial promotion.

Therefore, the information contained on this Website should not be construed as constituting an offer or solicitation (i) by anyone to sell units or shares in the funds referred to on this Website in any jurisdiction in which such offer or solicitation would be unlawful or in which the person making such offer or solicitation is not qualified to do so or (ii) to anyone to whom it is unlawful to make such offer or solicitation in the jurisdiction in which this person resides.

Specifically, the funds described on this Website are not available for distribution to or investment by investors in the United States of America (USA). Their units or shares are not registered under the US Securities Act of 1933, as amended, and, except in a transaction which does not violate the Securities Act or any other applicable securities laws (including without limitation any applicable law of any of the States of the USA), may not be directly or indirectly offered or sold in the USA or any of its territories or possessions or areas subject to its jurisdiction or to or for the benefit of an investor in the USA.

Applications for units or shares in the funds referred to on this Website should only be made on the basis of the information contained in the funds’ current prospectuses, as well as the latest audited annual reports or semi-annual reports.

Investment Risk Warnings

As with all investment products, a fund’s past performance is not necessarily a guide to future performance and the value of the units or shares of the funds referred to in this document and any income from them may fall as well as rise. On redemption of units or shares, investors may receive back an amount less than the original amount of their investments.

Among the risks which NexAM wishes to call to the particular attention of prospective investors are the following:

The funds featured in this document are speculative and involve a substantial degree of risk; these funds may be leveraged; NexAM has total trading authority over the funds and the funds are therefore dependent upon its services; there is no secondary market for the investors’ interest in the funds and none is expected to develop; there are restrictions on transferring interests in the funds; the funds’ fees and expenses may offset their trading profits; the assets of the funds may be denominated in a variety of currencies and therefore movements in the value of currencies may also affect the value of investors’ holdings; the value of units or shares may be adversely affected by fluctuations in exchange rates between the investors’ reference currencies and the base currencies of the funds.

Further information on the risks associated with investments in each fund (including those briefly described above as well as others, if applicable), as well as additional information needed by investors to evaluate potential investments (such as fees and expenses), can be found in the respective prospectuses.

Money Laundering and Terrorist Financing Prevention

As a result of money laundering and terrorist financing prevention rules and regulations, various documents will be required from investors for identification purposes when making their investments. The relevant details will be communicated to investors at the time of their initial investment.

Privacy

NexAM considers privacy to be a fundamental aspect of its business relationship with investors. Therefore, NexAM is committed to maintaining the confidentiality, integrity, and security of its investors' personal information.

In the course of providing investors with products and services, NexAM may obtain non-public personal information about them. ‘Non-public personal information’ is generally identifiable financial information about investors. For example, with regard to private investors, such information may include details regarding their bank account (such as the account balance and the account transaction history). This non-public personal information may come from various sources, including, but not limited to, application forms, verbal or written correspondence (including correspondence in an electronic format), transactions initiated by investors, or data captured on this Website. NexAM does not disclose non-public personal information to third parties, except as allowed by applicable rules and regulations. In particular, NexAM reserves the right to disclose such information to law enforcement or regulatory authorities if required under law.

In addition, with a view to effecting transactions or services that investors request or authorize, NexAM may disclose the information it collects, as described above, to non-affiliated companies which perform administrative services on its behalf, such as custodian banks, fund administrators, registrars and transfer agents. These companies will use this information to provide the services in relation to which they were appointed by NexAM and are not permitted to use or share this information for any other purpose.

Access to non-public personal information is restricted to those persons who need access to such information to provide products or services to investors. Accordingly, NexAM maintains procedural safeguards to protect unauthorized use of this information.

NexAM uses session cookies for the purpose of saving data relating to the management of a user session in the memory of the web browser on the user’s computer. By cookie it is meant the small text file that is stored on the hard disk of a computer by the web browser on the said computer. Such file contains information sent by the web server of the Website that a user has visited. The information derived from session cookies enables NexAM to identify which areas of the Website are seemingly of more interest to users so that it can improve the Website and the information provided to users. The data which is stored via session cookies does not include any private information regarding the user, and is erased as soon as the browser is shut down. It is to be noted that most web browsers are set up in such a way that they automatically accept cookies. Users can, however, amend the configuration of the web browser on their computers so that they are systematically notified of any instance where the Websites that they are about to visit contain cookies.

Limitation of Liability

The information contained on this Website is believed to be accurate as at the date of publication, but no representation or warranty, express or implied, is made by NexAM S.A. as to its accuracy or completeness. NexAM S.A. will have no liability for any loss or damage arising out of the use or reliance on the information provided including without limitation, any loss of profit or any other damage, direct or consequential. No information on this Website constitutes investment, legal, tax or any other advice.

To date and considering the specific nature of the investment strategies it implements, NexAM does not take into account environmental social and corporate governance criteria. However NexAM may at the request of its clients set up bespoke mandates or funds that use such criteria within their investment guidelines and trading strategies.

Claims

NexAM has implemented a procedure that seeks to deal with client complaints in efficient manner. Clients should address their complaints to the NexAM’s Client Service, 127 Avenue des Champs Elysées, 75008 Paris.
Where a fund has been distributed or promoted by a third party, Client should contact the financial intermediary for any claims relating such the distribution or promotion of such products.

NexAM ensures that its response is sent to you within the following timeframe:

• Within ten business days following the receipt of the complaint, NexAM shall acknowledge its receipt, save where the response has already been provided.
• Within two months following the receipt of the complaint, NexAM shall send its response to the client save in the event of exceptional circumstances.

Please note that client‘s may refer to the AMF’s Ombudsman at the following address:

• AUTORITE DES MARCHES FINANCIERS
  Médiateur de l'AMF
  17 place de la Bourse
  75082 Paris Cedex 02