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Please read these terms and conditions carefully. By accessing this web site and any pages thereof, you acknowledge your agreement with and understanding of the following terms of use and legal information pertaining to both this web site and any material in it.

If you do not agree to the terms and conditions below, do not access this web site or any pages thereof.

Access to the information contained on this web site may be restricted by laws and regulations applicable to the user. Persons in respect of whom such prohibitions apply must not access this web site.


The information on this website is exclusively directed at qualified investors within the meaning of the Federal Act of Collective Investment Schemes (CISA) and its implementing ordinance as well as according to the most recent interpretation of the Swiss Financial Market Supervisory Authority (FINMA).

The following are considered qualified investors within the meaning of the CISA: supervised financial intermediaries (e.g. banks, securities dealers, fund management companies, asset managers of collective investment schemes, as well as central banks), supervised insurance institutions, public law corporations and benefit plans with professional treasury management, enterprises with professional treasury management, high net worth individuals who have opted-in and investors who have entered into a written discretionary management agreement with a supervised financial intermediary or an independent asset manager and who have not opted-out..

The information on this website is exclusively directed at qualified investors with residence or domicile in Switzerland.


Under Art. 29 IUO the term “qualified investor” applies to the following parties that invest at least CHF 250,000 (or the foreign currency equivalent) in the investment undertaking for qualified investors:

A. Corporate entities subject to a supervisory regime equivalent to that of Liechtenstein, notably:

banks and securities houses; insurance companies; occupational insurance schemes; post office institutions; asset management companies; collective capital investments and their management companies.

B. Commercial companies whose equity capital in the last financial year amounted to more than CHF 20 million or the foreign currency equivalent.

C. Persons, corporations, trustees, other corporate entities and bodies which are not commercially active but which, at the time of the investment, directly or indirectly hold financial assets to a value of at least CHF 1 million or the foreign currency equivalent.

D. States, public sector corporations and institutions, central banks, international and supranational institutions and other comparable international organisations.

E. Investors who have concluded a written investment management agreement with persons domiciled at home or abroad, providing they

are subject to a supervisory regime equivalent to that of Liechtenstein with regard to their asset management activities or are demonstrably affiliated to an industry organisation recognised by the national supervisory authority,

are subject to the anti-money laundering rules currently in force within the EEA or to equivalent rules.

When subscribing to the fund upon the issue of fund units or when purchasing fund units at a later date investors must confirm that they belong to one of the above categories A. to D. or that they are acting as an investment manager in accordance with category E. The paying agent or management/administration company must check the plausibility of the subscription or unit purchase application with regard to the status of qualified investor. For categories A. to D. a minimum purchase limit of CHF 250,000 or foreign currency equivalent applies (only to the initial acquisition, not to subsequent unit purchases). This volume limit does not apply to category E.


Although THE FUND AND ITS SPONSORS believe that the information on the web site is accurate at the date of publication, no warranty of accuracy is given. The information on this web site is provided for information only and should not form the basis of an investment decision. Opinions and any contents of this web site are subject to change without notice. THE FUND AND ITS SPONSORS accept no liability for any loss or damage arising from any use made of information contained in this web site.


Under no circumstances, including, but not limited to, negligence, shall THE FUND AND ITS SPONSORS be liable for any special or consequential damages that result from the access or use of, or the inability to access or use, the materials at the Site.


The value of investments and the income derived from them may fall as well as rise and investors may not get back the amount invested. Past performance is not necessarily a guide to the future performance of an investment. Changes in rates of foreign exchange may cause the value of investments to go up or down. No information or material on this web site is to be relied upon for the purpose of making or communicating investment decisions.


Nothing on this web site should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction. None of the investments referred to in this web site are available, and prospectuses in respect of them will not be distributed, to persons resident in any country, state or jurisdiction where such distribution would be contradictory to local law or regulation.


This web site is not directed to any person in any jurisdiction where, by reason of that person's nationality, residence or otherwise, the publication or availability of this web site is prohibited.


We may collect information about you when you use this website, e.g. by sending cookies to your computer or if you provide us with certain information about yourself to register to access and use certain portions of this website. We use such information about you to verify your identity and eligibility to receive certain products or services, to provide information to you about products and services that we believe may be of interest to you, to record your interest in products and services that we offer, and to respond to your requests for information. We do not use for other purposes or disclose to any third party any personal information, except with your consent or as otherwise permitted or required by law. We maintain physical, electronic and procedural safeguards to guard your personal information and request from our employees to fully adhere to privacy standards, policies and the applicable laws. Please note that data that is transported over the Internet may be accessible to anybody. Your data may be lost during transmission or may be accessed by unauthorized parties. Neither THE FUND AND ITS SPONSORS nor any other affiliate accepts any liability for direct or indirect losses as regards the security of your data during its transfer via Internet. Please use other means of communication if you think this is necessary or prudent for security reasons.


On this web site you may be offered links to other sites. Following links to any other off-site pages or other web sites shall be at the user's own risk. THE FUND AND ITS SPONSORS have not reviewed any of the web sites linked to this web site and does not endorse any responsibility for their content not the products, services or other items offered through them.


All material available on the Site, unless otherwise specifically indicated, is subject to copyright with all rights reserved. The material is freely usable for browsing purposes only and requires express mention of THE FUND AND ITS SPONSORS in the event the material, or any part thereof is reproduced in any form, written or electronic. Additionally, any re-publication of this material requires the express consent of THE FUND AND ITS SPONSORS. Links to the site or use for any public or commercial purpose are subject to THE FUND AND ITS SPONSORS prior written permission.