Disclaimer

This material is issued by Serone Capital Management LLP (“the Firm”), which is authorised and regulated in the UK by the Financial Conduct Authority (‘FCA’), firm reference number 502305. Information on the website is intended for professional investors only; any reproduction of this information, in whole, or part, is prohibited. The content is for information purposes only and should not be used or considered as an offer or solicitation to purchase or sell the securities mentioned herein. The funds managed by the Firm are defined as an ‘unregulated collective investment scheme’ (‘UCIS’) and the promotion of a UCIS either within the UK or from the UK is severely restricted by statute. Consequently, this website is only directed at professional clients and eligible counterparties as defined by the FCA and also to persons of a kind to whom a Fund may lawfully be promoted by an authorised person by virtue of Section 238(5) of the Financial Services and Markets Act 2000 and COBS 4.12.4R.

In the United States, Serone Capital Management is registered as an investment adviser with the U.S. Securities and Exchange Commission (“SEC”). The Fund is exempt from registration under the Securities Act of 1933 and the Investment Company Act of 1940. Accordingly, the Fund is only available to investors who are Accredited Investors (as defined in Rule 501 of Regulation D) and Qualified Purchasers (as defined by Section 2(a)(51) of the Investment Company Act of 1940).

Any decision by an investor to buy shares in a Fund must be made solely on the basis of the information and terms contained within the Fund’s offering memorandum. Investment in the Fund is made entirely at the investor’s own risk and professional advice should be sought in case of doubt. The Fund invests primarily in securitised credit products which: are traded over the counter (‘OTC’), may be less readily realisable, more difficult to price and may involve special risks and additional complexity. There is no assurance that the investment objectives of any investment product will be achieved or that the strategies and methods described herein will be successful. Past performance is not necessarily a guide to future performance and the value of an investment may go down as well as up. Investors may not get back the full amount invested.

This material is confidential and is the property of Serone Capital Management LLP. No warranties or representations of any kind are expressed or implied herein.

This document has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this document and any other materials in connection with the offer or sale, solicitation or invitation for subscription or purchase, of interests to be issued from time to time by the Fund may not be circulated or distributed, nor may the interests be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 304 of the Securities and Futures Act, Chapter 289 of Singapore (the “SFA”), (ii) to a relevant person pursuant to Section 305(1) of the SFA, or any person pursuant to Section 305(2) of the SFA, (iii) or otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.

Where interests are subscribed or purchased, they may be subject to restrictions on transferability and resale and may not be transferred or resold in Singapore except as permitted under the SFA.

By accepting this document, you (i) represent and warrant that you are either an Institutional Investor as defined under Section 4A of the SFA, a Relevant Person as defined under Section 305 of the SFA or persons to whom an offer is being made, as referred to in Section 305(2) of the SFA; and (ii) agree to be bound by the disclaimers, limitations and restrictions described herein.

The investor acknowledges that the offer of interests herein is made in reliance on the exemption(s) provided under the Singapore Securities and Futures Act (Cap. 289) (“SFA”) and is not made in or accompanied by a prospectus that is registered by the Monetary Authority of Singapore and pursuant thereto the investor further acknowledges and unconditionally undertakes that the interests offered herein and accepted by the investor in accordance with the terms and condition herein shall not be subsequently sold to any person, unless the offer resulting in such subsequent sale is made in compliance with the SFA and/or in reliance on any applicable exemption(s) provided under the SFA.

The performance information herein has been prepared by the Fund Administrator and has not been independently audited or verified except for certain year-end data. The estimated net returns were based on an individual investor in Class B and D Series since inception and reflect the reinvestment of dividends and other earnings. Returns are net of management fee and performance fee. Actual returns from each investor may be different due to timing of investments.

Market index information shown herein is included to show relative market performance for the periods indicated and not as standards of comparison, since these are unmanaged, broadly based indices which differ in numerous respects from the portfolio composition of the Fund. Market index information was compiled from sources that the Firm believes to be reliable. No representation or guarantee is made hereby with respect to the accuracy or completeness of such data.

Swiss Representative: Mont-Fort Funds AG, 63 Chemin Plan-Pra, 1936 Verbier, Switzerland, Paying Agent: Banque Heritage SA, 61 Route de Chene, Case Postale 6600, CH-1211 Geneve 6, Switzerland

Note: In respect of the shares distributed in or from Switzerland, the place of jurisdiction under Swiss Law is the registered office of the Swiss representative