Disclaimer

Important Notice

The information in this Internet site (the "Site") is not targeted at the residents of any particular country and is not intended for distribution to, or use by, any person in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.

No information on this web site constitutes an offer of any securities of any of the funds listed herein.

This information is not for use within the United States or with any U.S. persons (as defined in Rule 902(k) promulgated under the U.S. Securities Act of 1933, as amended).

This information is not for use within any sovereign nation or with any persons where such use would constitute a violation of law.

The Site is directed only at persons who fall within the definition of "eligible counterparty" or "professional client" under the rules of the Financial Services Authority (and other persons to whom the Site may lawfully be communicated). Any investment or service to which the Site relates is available only to such persons. Persons of any other description should not rely upon it.

The Site is communicated, and has been approved for the purposes of Section 21 of the Financial Services and Markets Act 2000, by CAL Investments Limited (registered address: 4 Farm Street, London W1J 5RD). CAL Investments Limited is authorised and regulated by the Financial Services Authority (FSA Register Number: 114 008).

If you would like further information on the Financial Services Authority, you can access their website at www.fsa.gov.uk.

References to “CAL Investments ” are references to “CAL Investments Limited ”.

Not an Offer

No information published on the Site constitutes a solicitation or offer, or recommendation, to buy or sell any investment instruments, to effect any transactions, or to conclude any legal act of any kind whatsoever.

Applications to invest in any collective investment fund referred to on the Site must only be made on the basis of the offering document relating to the specific investment (e.g. prospectus, Key Features or other applicable terms and conditions).

The information in the site relating to the funds managed by CAL Investments Limited and serve preliminary, selective and for illustrative purposes only and is subject to material updating, completion, revision, verification or other amendment.

Not Advice

The information in the Site is descriptive and the services, securities and financial instruments described may not be available to or suitable for you. Not all strategies are appropriate at all times. The opinions expressed in the Site do not constitute investment, tax, legal or other advice. Independent advice should be sought in cases of doubt. In any case, investors are invited to make their own independent decision as to whether an investment is proper or appropriate based on their own judgement and upon the advice of any relevant advisors they have consulted.

Disclaimer

Your use of the Site is entirely at your own risk and neither CAL Investments Limited, nor any of its affiliates, directors, officers or employees, nor any third party vendor will be liable or have any responsibility of any kind whether in contract, tort or otherwise for any loss or damage that you incur in the event of any failure or interruption of the Site, or resulting from the act or omission of any other party involved in making the Site available to you, or from any other cause relating to your access to or use of the Site, whether or not the circumstances giving rise to such cause may have been within the control of CAL Investments Limited or of any vendor providing software or services support for the Site.

Some links on the Site lead to third-party websites, which are completely beyond the control of CAL Investments Limited. Accordingly, CAL Investments Limited does not assume any responsibility for the accuracy, completeness and legality of the contents of such websites, or for any offers and services contained.

Proprietary Rights

All right, title and interest in the Site and any content contained herein is the exclusive property of CAL Investments Limited, except as otherwise stated. Unless otherwise specified, the Site is for your personal and non-commercial use only and you may print, copy and download any information or portion of the Site for your personal use only. You may not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, frame, create derivative works from, transfer, or otherwise use in any other way for commercial or public purposes in whole or in part any information, software, products or services obtained from the Site, except for the purposes expressly provided herein, without CAL Investments Limited's prior written approval. If you copy or download any information or software from the Site, you agree that you will not remove or obscure any copyright or other notices or legends contained in any such information.

Trademarks

This Site contains trade marks belonging to CAL Investments Limited. The trade marks include graphics, logos, words, phrases and icons contained on this web site. If you are in doubt as to whether an item is a CAL Investments Limited trade mark please contact us for clarification.

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