Disclaimer
This description of the Portas Capital Fund/Mandate/Strategy (the «Strategy»), does not constitute an offer to sell, or the solicitation of an offer to subscribe for, or buy or otherwise acquire, interests in the Strategy (the «Interests») in any jurisdiction in which such offer or solicitation is unlawful. No action has been and will be taken (i) to publicly offer, sell or distribute the Interests in any jurisdiction or (ii) which would require prior authorization or approval under applicable laws, such as securities laws, investment fund laws or similar laws. In particular, no such action has been and will be taken in the United States of America, any member state of the European Economic Area including the United Kingdom, France, Italy and the Scandinavian countries, or Singapore. The Interests have not been and will not be registered under the securities laws of any state or jurisdiction, in particular, the United States of America, the United Kingdom, France and Germany. In addition, the Strategy has not been and will not be registered under the securities laws of any state or jurisdiction. This document does neither constitute an offer to buy or to subscribe to Interests nor a prospectus within the meaning of Swiss law. The Interests are not being publicly offered or sold in Switzerland. The Strategy is not authorized for public distribution in Switzerland and Interests may only be offered to qualified investors in accordance with the Swiss Federal Act on Collective Investment Schemes.
This document is not being issued in the United States of America and should not be distributed or otherwise transmitted to or in the United States or to U.S. persons (as defined in the U.S. Securities Act of 1933, as amended (the «Securities Act»)) or publications with a general circulation in the United States. Interests must not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements of the Securities Act. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the «Order») or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as «relevant persons»). The Interests are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Interests will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
A prospectus relating to the Interests has not been and will not be submitted to, nor has a prospectus been or will be approved by, the Bundesanstalt für Finanzdienstleistungsaufsicht («BaFin»), the German financial services supervisory authority. The Interests must not be distributed within Germany by way of a public offer, public advertisement or in any similar manner that would qualify as a public distribution (öffentlicher Vertrieb) within the meaning of the German Investment Act (Investmentgesetz) as this term is interpreted by the BaFin and the German courts, and this document or any other document relating to the Interests, as well as the information contained therein, may not be supplied to the public in Germany. Outside of Germany, any offer of Interest that may be deemed to be made pursuant to this communication in any EEA member state that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any member state, the «Prospectus Directive») is only addressed to qualified investors in that member state (other than Germany) within the meaning of the Prospectus Directive.
This document is not being distributed in the context of a public offering in France within the meaning of Article L.411-1 of the Code monétaire et financier and has therefore not been submitted to the Autorité des marchés financiers for prior approval or clearance. Offers of the Interests may only be made in France to qualified investors acting for their own account and to licensed portfolio managers, as defined in and in accordance with Article L.411-2, D.411-1 to D 411-4, D 744-1, D 754-1 and D 764.1 of the Code monétaire et financier. Neither this document nor any other offering materials or information contained therein relating to the Interests may be released or distributed to the public in France. Any direct or indirect resale of the Interests acquired by such qualified investors or portfolio managers may be made to the public in France only as provided under Articles L.411-1, L.411-2, L.412-1 and L.621-8 to L.621-8-3 of the Code monétaire et financier and applicable regulations hereunder.
Investors are furthermore advised to consult their bank or financial adviser. This document is strictly confidential. This document and other any other materials relating to the offer of the Interests may not be distributed to any person or entity other than the recipients hereof.
Past performance is no guarantee for future performance or returns.
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