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Legal Information (Disclaimer) and Information on Data Protection

The Liechtenstein Investment Fund Association (hereafter referred to as: "LAFV") is a non-commercial association entered in the commercial register domiciled in Vaduz, Principality of Liechtenstein.

The LAFV website contains general information as well as specific data, notes, documents, charts and figures etc. about specific funds (hereafter referred to as: "information"), which may be legally distributed in Liechtenstein and other countries. The LAFV website is a legally recognized publication vehicle of funds domiciled in Liechtenstein. The publication of fund-specific data, notes, documents, charts and figures is carried out by the management companies, the AIFMs (Alternative Investment Fund Manager) as well as by other for publications authorised persons (hereafter referred to as: “fund providers”) respectively is based on their data.

The website is geared towards professional and private investors domiciled or residing in Liechtenstein. It is not meant for persons that are subject to any jurisdiction according to which information published on the LAFV website or access to the LAFV website is prohibited.

Information by the Visitor
There may be visitor-specific sale restrictions for funds published on this website. For this reason, the visitor of this website must specify upon log-on whether he is a professional or a private investor in the sense of annex II of the Directive 2004/39/EG. Visitors are fully responsible for truly specifying the applicable investor profile. Visitors are also fully responsible for correctly specifying their domicile before accessing the LAFV website. An incorrectly specified investor profile or domicile may lead to the publication of data and information about funds that are not rightfully accessible to the visitor. LAFV cannot be held liable for damage caused to a visitor due to incorrect information about the investor profile and/or domicile.
Data and information about funds that are provided to the visitor for inspection on the basis of his declaration, are exclusively intended for the investor profile specified by the visitor with the specified domicile.
Visitors of the LAFV website are fully responsible for observing the restrictions of the fund provider and the corresponding fund.

Purpose of this Website
The LAFV website serves the only purpose of supplying a platform to fund providers for the publication of information on the Liechtenstein fund centre and funds distributed and domiciled in Liechtenstein. LAFV does not appear at any time as a supplier or distributor of the funds mentioned on the LAFV website and it does not act as a representative of the corresponding fund provider, either.

No Offer or Distribution
The information published on the LAFV website does not represent an offer or recommendation or invitation of LAFV or the fund provider to submit an offer for the purchase or sale of funds shares or to conclude any legal transaction.

No Investment Advice or Individualized Recommendation
The information published on the website information does not constitute any investment advice or recommendation for investment decisions. The published information provides no guarantee for the future performance of the corresponding fund. Potential investors are strongly advised to only consider an investment in funds after studying up-to-date fund-specific documents.

The performance of a fund depends on its investment policy as well as the market development of the individual investments of the fund and cannot be determined in advance. The value of the units of a fund may rise or fall versus the issue price at any time. It cannot be guaranteed that the investors will be able to recover their invested capital. The issue premiums and redemption charges are not integrated in performance trend charts. The historic performance of a unit does not guarantee a similar current and future performance.

Responsibility for the Contents of the Website
LAFV bears no legal responsibility or responsibility for contents about information published on the website. The fund providers, who have published information on the LAFV website, are exclusively responsible for the legality, accuracy, completeness and timeliness of the contents.
Moreover, LAFV has no obligation to mark outdated information as such or to remove it from the website.
Other information published on the LAFV website such as statistics, newsletters, graphics, etc. are based on information derived from sources LAFV believes to be reliable. Nevertheless, the underlying data and information may have changed in the meantime or be based on incorrect or incomplete information provided by third parties.
Therefore, LAFV does not accept any warranty or liability - either express or implied - with regard to the legality, accuracy, completeness and timeliness of fund-specific and other information disseminated on the LAFV website.

Changes and Updates
This website and the information published on it may be changed at any time and without prior notice.

Caveat Emptor and Limitation of Liability
LAFV accepts no warranty or liability for the legality, correctness, completeness or timeliness of the information published on the LAFV website. Moreover, LAFV is not liable for ensuring that the information is always complete, accurate and permanently available. Furthermore, LAFV is not liable for damage caused by actions or omissions made by people on the basis of information published on the LAFV website. In addition, LAFV is not liable for damage caused by viruses or other harmful components of the website or documents published on it.

References and Links
The LAFV website contains links that lead to websites of third parties. These websites are completely beyond any control of LAFV. LAFV only provides access to these websites; it definitely does not adopt their contents. The inclusion of a link to a third-party website is not an endorsement of LAFV. Only the owners of these websites are responsible for the contents of these websites. LAFV is not liable for the accuracy, completeness, legality and timeliness of the contents of such websites or for any offers and services contained thereon. LAFV declines, without limitation, any liability for damage or loss of any kind - be it direct, indirect or consequential - that may result from using or accessing the LAFV website or from links to websites of third parties.

Linking to the LAFV Website
Without the prior written consent of LAVF linking to the LAFV website is not permitted.

Legal Restrictions
Specific funds published on the website are only visible or available for so-called professional investors. Furthermore, there may be specific sales restrictions with regard to particular countries and people.
Regarding the distribution license, LAFV exclusively relies on the relevant information provided by the fund provider. For damage caused by incorrect information about the license LAFV cannot be held liable.

Availability of the Website
LAFV is entitled, at any time, to suspend the provision of the website for maintaining or updating or other work that enhance the functionality of the website. LAFV does not warrant that the use of the website and/or linked third-party websites is at all times possible in a complete, uninterrupted and flawless manner.

The entire content of the LAFV website is protected by copyright. Reproducing, transmitting, altering, remodelling and linking or using the contents or any part thereof for public or commercial purposes is prohibited without the prior written consent of LAFV.
By copying or storing data that have been published on the LAFV website, the present disclaimer is deemed accepted.
Market data distributors may resell or publish the content published on the LAFV website only by prior written consent of LAFV.

Privacy Policy
When using the LAFV website personal data are processed as follows. Personal data are all data and information relating to an identified or identifiable natural or legal person. In relation to websites, these include, for example, e-mail addresses, but also IP addresses.
When using the LAFV website the following personal data are automatically stored in a log file of the web server:
• IP address of the visitor, and the date and time of access to the website;
• browsers used;
• domicile as specified;
• retrieved pages;
• origin of the visitor;
• search terms entered;

LAFV uses these personal data only on an anonymous basis for internal statistical purposes. There is no publication. Data will be deleted after achieving the purposes. These restrictions do not apply to publicly available data.

In addition, LAFV stores and processes personal data directly entered by the visitor in the appropriate text boxes on the LAFV website. LAFV uses these data exclusively for purposes specified on the LAFV website.

Data are stored in a protected and secured environment in Liechtenstein. Access is limited.

No personal data other than the investor profile and the country of domicile are requested for accessing fund-specific information.

The LAFV website includes links to internet contents of third parties and uses cookies to implement the services specified above and on the website. There is no storage beyond the duration of the session.

Web Analytics
LAFV analyses the use of its website with its own web analytics tool. This tool is installed on LAFV's own web server in Liechtenstein and stores visitor data and statistics only on this internal server in Liechtenstein. In this context, LAFV adopts the principle of data minimization and collects only data that are needed for a comprehensive improvement of the website. In particular, these data include the following:
• anonymized IP address of the visitor, the country and the provider;
• date and time of access to the LAFV website;
• device type, brand and model, with which the visitor accesses the website;
• browser, operating system, plug-ins, language, resolution;
• retrieved web pages.

Disclosure of Personal Data
LAFV does not disclose personal data to third parties, unless it is required by law or the third party is a company that LAFV commissions in connection with the maintenance, operation or improvement of the website. Such company is bound by the secrecy and privacy policies of LAFV.

Rights of the Visitor
The visitor has always the right to ask for information about the processing of his personal data and their rectification or deletion. He has also the right to object to the processing of his personal data (in part) and to block a transfer to third parties. To exercise these rights and raise questions about data protection in connection with the LAFV website, the visitor can directly approach LAFV using the following contacts:

LAFV Liechtenstein Investment Fund Association
Meierhofstrasse 2
9490 Vaduz
Principality of Liechtenstein
Phone +423 230 07 70
Fax +423 230 07 69

Legal Responsibility and Ownership of the Website
The present website belongs to the Liechtenstein Investment Fund Association domiciled in Vaduz, Principality of Liechtenstein.

Applicable Law and Place of Jurisdiction
All disputes in connection with using the LAFV website and the pertaining data storage are subject to Liechtenstein law. The exclusive place of jurisdiction is Vaduz.

Vaduz, 01.12.2014