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This site is subject to the laws of Luxembourg. It is not intended for persons under jurisdictions where (due to nationality, place of residence or any other reason) the dissemination or access to such information is prohibited. If the user is not a resident of Luxembourg or Belgium, they must first and under their own responsibility check that the regulations which are applicable to them allow him or her to use the information on the site. More specifically, the information is not in any way intended for citizens or residents of the United States of America.

Navigation on this site is subject to the laws of Luxembourg, as well as the conditions listed below. By continuing to consult the site, you signify your acceptance of these contractual conditions.

The site is managed and operated by ANPHIKO Asset Management S.A. and ANPHIKO Belgium (branch), hereafter collectively referred to as AAM. ANPHIKO Asset Management S.A. is a limited company under Luxembourg law incorporated for an indefinite period in Luxembourg on May 23, 2008. Its subscribed and paid up capital is € 500,000.

ANPHIKO Asset Management S.A. head office is located at 98, rue de la Gare, L-8325 Capellen. ANPHIKO Asset Management S.A. is an asset management company listed under number B-106890 at the Luxembourg Registry of Commerce. Anphiko Asset Management S.A. is authorised and regulated by the Luxembourg CSSF as an investment firm pursuant to Part I, Chapter 2, Section 2, Sub-section 1, Art. 24-3 and Subsection 2, Art. 25, 28-6, 28-9, 28-10 of the law of 5 April 1993 on the financial sector. AAM provides amongst other services asset management services for third party assets.

ANPHIKO Belgium is a branch of ANPHIKO Asset Management S.A. Luxembourg, limited company under Belgian law, authorised to act as a portfolio manager and investment advisor under the prudential supervision of the Authority for Services and Financial Markets (the “FSMA”), rue du Congrès 12-14, 1000 Brussels, tel. +32(0)2 220 52 11, fax +32(0)2 220 52 75, www.fsma.be. ANPHIKO Belgium (branch of ANPHIKO Asset management S.A. Luxembourg) headquarters are located Godefridiuskaai 26-28, B-200 Antwerp. It is registered with the company directory (Banque Carrefour des Entreprises) under the number 578,946,082.

The information published on this site, be it of a general (such as market information) or specific nature (such as information concerning investment products), is provided on an indicative basis. It is published with no guarantee that it is exhaustive, precise or up-to-date. In no way does it constitute an offer or solicitation to buy or sell. It has no value in terms of legal, accounting or tax advice and is only relevant at the time it was published. It is not intended to replace the information that must be legally provided to an investor prior to making an investment decision or the knowledge and skills of the user. Therefore, it must only be used with the advice of a qualified professional. It is specified that past performance is in no way an indication of future performance. The information may come from external suppliers. Except in the case of fraud or gross negligence, and without prejudice to any legal disposition, AAM cannot be held responsible by the user of the information or any third party whatsoever, nor for the direct or indirect consequences of its use.

The AAM site may contain links to third-party sites over which it has no control. Some links are provided purely for visitors’ convenience, and the inclusion of a link does not imply that AAM endorses the linked site. AAM assumes no responsibility for the content, services, products or material offered by linked sites. No link may be created to the site without AAM’s prior approval. Links made to the AAM site using techniques such as framing and /or deep linking are prohibited. Under no circumstances is AAM AM liable for links made to its site.

All of the elements accessible on the AAM site, as well as their compilation and arrangement (texts, photos, images, etc.) are protected by intellectual property rights owned and exercised by AAM. The brands, names and logos used on the site, whether registered or not, are the exclusive property of AAM or other companies and may not be used or reproduced. The display and printing of information and elements available on this site are authorised for strictly private, non-commercial uses, provided you do not remove the intellectual property rights and other related notices. You undertake not to transmit, reproduce or sell any information or product contained on this site in any form whatsoever, without the prior written authorisation of AAM.

The user agrees that any access to the site and any use of it are under their own responsibility. AAM is not liable for any direct or indirect damages that may result from use of the site, notably related to its interruption, cessation or malfunction that could result from: maintenance or re-booting of AAM’s computer system; technical issues; network overload; telephone lines that are cut; errors; negligence or faults by suppliers of Internet services or a third party; as well as viruses coming from the Internet.

The applicable law is that of Luxembourg. The user is informed that only the courts of Luxembourg are competent for any disputes arising from the use, interpretation and execution of information and data present on the site.

The only authentic version of the site is the French version. In case of contradictions with other language versions, only the French version shall be considered as a reference.

The AAM site offers the possibility of contacting ANPHIKO Asset Management SA by e-mail. The reception, punctuality and security of electronic messages via the Internet are not fully insured. AAM recommends that you do not send information via e-mail that you consider important or urgent. AAM cannot be held responsible for the consequences of a reply that was not received, confirmed or handled. Due to security deficiencies, AAM recommends that you do not send information of a confidential or private nature by e-mail. AAM cannot be held liable for damage caused if your message was intercepted by a third party.

Visitors to the site are informed that AAM can gather nominative information about them and submit it for automated treatment. Furthermore, they are informed that when accessing the site, data might temporarily be stored on their IT equipment so as notably to facilitate navigation on the site ("cookies"). The visitors allow AAM to do this. They can exercise their right to access and correct any nominative data about them, pursuant to the law of August 2, 2002 concerning the protection of persons with regard to the processing of personal data by writing to ANPHIKO Asset Management SA, at the above address.

This Internet site is made available “as is” without any expressed or implied warranty of any kind, including the warranty of non-infringement of others’ rights or that it be free of any computer virus. AAM does not guarantee the continued availability without error or interruption of all the site’s functions, the immediate repair of errors or the immediate restoration of interruptions. AAM cannot be held responsible and declines any responsibility in case of errors, omissions, interruption of service or delays. Unless encryption is used, the Internet is not a secure mode of communication. AAM is not liable for the intrusion of unauthorised persons or their transmission of corrupt data, on the site.

If a provision of the general terms of use is deemed unenforceable, the relevance of the remaining provisions will not be questioned. The provision in question will be replaced by one that is more appropriate and consistent with the original intention. AAM reserves the right to modify the site’s content or make it inaccessible. AAM is likely to change the terms of use at any time with immediate effect without giving prior notice.

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