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Important Legal Information

PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY. BY ACCESSING THIS SITE AND ANY PAGES THEREOF, YOU AGREE TO BE BOUND BY THE TERMS AND CONDITIONS BELOW. IF YOU DO NOT AGREE TO THE TERMS AND CONDITIONS BELOW, DO NOT ACCESS THIS SITE, OR ANY PAGES THEREOF.

THIS WEBSITE SERVES AS INFORMATION ONLY FOR NON-US INSTITUTIONAL ACCREDITED INVESTORS. IF YOU ARE A US INVESTOR, PLEASE EMAIL @ INVESTOR.RELATIONS@HERALDPARK.COM AND OUR US REPRESENTATIVE WILL BE IN TOUCH WITH YOU SHORTLY. BE ACCEPTING THIS TERMS OF AGREEMENT AS A US INVESTOR, YOU AGREE TO BE LIABLE TO FEDERAL LAWS AND REGULATIONS AND WILL NOT HOLD HERALD PARK CAPITAL MANAGEMENT L.P. LIABLE FOR ANY PUNITIVE DAMAGES OR LOSSES THEREOF. BY ACCEPTING YES ON THIS DISCLAIMER YOU WAIVE ALL YOUR LEGAL RIGHTS IN PURSUING A CONTRACT OR AGREEMENT WITH HERALD PARK CAPITAL MANAGEMENT L.P. PURSUANT TO STATE OF NEW YORK RULES OF CONDUCT.

Legal information

This website is owned and operated by Herald Park Capital Management, a group of related companies involved in the global distribution of investment management services. Herald Park Capital Management may modify these Terms and Conditions at any time and without prior notice to you. Before continuing, please read the following important information and confirm that you have read and agree to these provisions and the Terms and Conditions of this website. Note that these Terms and Conditions are in addition to any other agreements that you may have with Herald Park Capital Management including but not limited to any customer or account agreements.

The information on this website is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security that may be referenced on or through this website. Unless otherwise specified, it is not intended to be directed to any person(s) in particular. Information from this website must not be used in any jurisdiction where prohibited by law and must not be used in a way that would be contrary to local law or legislation. No investment advice, tax advice, or legal advice is provided through this website, and you agree that this website will not be used by you for these purposes. No representation is given that shares, products, or services identified on, or accessible through this website are suitable for any particular investor. The Herald Park Capital Management is not available to investors in all jurisdictions and is not available in the United States or to U.S. Persons, as defined in the Herald Park Capital Management prospectus. Currently, the Herald Park Capital Management is registered and available to all investors in the United Kingdom, Switzerland, Germany and Luxembourg.

If you are a citizen or resident of the United States, contact investor.relations@heraldpark.com

I confirm that I have read and agree to the provisions above and agree to abide by the Terms and Conditions of this website.

Terms and Conditions

Please read this page before proceeding, as it explains certain restrictions imposed by law on the distribution of this information and the countries in which the Herald Park Capital Management is authorized for sale.

General Terms
The information on this website is approved for publication by Herald Park Capital Management and includes information about the Herald Park Capital Management , which is an umbrella fund established as an open-ended investment company with variable capital incorporated with limited liability under the laws of Luxembourg. It qualifies and is authorized by the Commission de Surveillance du Secteur Financier as an undertaking for collective investment in transferable securities (UCITS). The Herald Park Capital Management referred to in this website is distributed by Herald Park Capital Management Investment Management (UK) Limited, and offered and sold only to persons residing in certain countries other than the United States where such has been appropriately authorized and are offered by prospectus only. The information on this website is not intended for distribution or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation, or which would subject Herald Park Capital Management or its affiliates to any registration requirement within such jurisdiction or country. Note that the information contained on this website may be revised at any time.

Nothing contained within this website should be construed as investment advice. An investment in the Herald Park Capital Management may not be suitable for all investors and should only be made on the basis of the prospectus and simplified prospectus and their terms and conditions. The fund prices contained in this website are indicative only and should not be relied upon for dealing. No warranty or representation is made with respect to the information contained in this website, including, without limitation, that the information is accurate, completely or timely. To the best of your knowledge, after due inquiry, you are permitted by the laws of your jurisdiction of residence to access this website and the information contained herein. None of the information, whether in part or full, should be copied, reproduced or redistributed in any form nor should it be regarded as an offer or a solicitation of an offer for investment in countries in any jurisdiction in which such an offer or solicitation is not lawful.

The information contained herein and opinions expressed in this website are for informational purposes only and are not intended to be a solicitation, offering or recommendation by Herald Park Capital Management or its affiliates of any security or investment. Herald Park Capital Management does not provide investment advice, tax advice or legal advice through this website. Herald Park Capital Management does not represent that the products or services discussed in this website are suitable or appropriate for all investors. Any portfolio or performance information is historical and is not an indication of current or future portfolio characteristics or performance.

Herald Park Capital Management, at our discretion, provides you with services including, but not restricted to, news and information, commentary, interactive tools, quotes, research reports and data with respect to the financial industry. You agree to comply with the conditions imposed on your use of these services as set out in these Terms and Conditions and elsewhere. These services may be outside our control or provided by a third party, in which case we cannot take responsibility for their content or for any delays, interruptions or errors in the provisions of these additional services, provided we have exercised reasonable care and diligence in the selection of such providers.

The information presented has been prepared on the basis of publicly available information, internally developed data and other third party sources believed to be reliable. No assurances are provided regarding the reliability of such information. All opinions and views constitute judgments as of the date of writing and are subject to change at any time without notice.

You may only use the data retrieved from our website for your own personal and non-commercial purposes while accessing our website. Such use will be in accordance with these Terms and Conditions and the requirements set out elsewhere on our website. You may not copy, distribute, redistribute, modify, transmit, post, display, perform, reproduce, publish, license, create derivative works from, transfer or sell any pages, data, information, software, products or services obtained from this website without the prior written approval of Herald Park Capital Management.

Herald Park Capital Management maintains this website for the convenience of its users. Herald Park Capital Management, its affiliates, principals and employees do not guarantee the accuracy, validity, timeliness, completeness or suitability of any information or data made available to you on this website. We disclaim all warranties, express or implied, including, but not limited to, warranties of title, non-infringement, merchantability or fitness for a particular purpose. The data is provided “as is.” Neither we nor any third party shall be liable to you or any third party for any loss or damage, direct, indirect or consequential, arising from (i) any inaccuracy or incompleteness in, or delays, interruptions, errors or omissions in the delivery of the data or any other information supplied to you through our services or (ii) any decision made or action taken by you or any third party in reliance upon the data. Neither we nor any third party shall be liable for loss of business revenues, lost profits or any punitive, indirect, consequential, special or similar damages whatsoever, whether in contract, tort or otherwise, even if advised of the possibility of such damages incurred by you or any third party.

Where the information consists of pricing or performance data, the data contained therein has been obtained from sources believed reliable. Data computations are not guaranteed by any information service provider, third party or us or any affiliates and may not be complete. Neither we nor any information service provider or third party give any warranties as to the accuracy, adequacy, quality or fitness, timeliness, non-infringement or title of any information for a particular purpose or use, and all such warranties are expressly excluded to the fullest extent that such warranties may be excluded by law. In no event will we or any information provider or third party be liable for any consequential loss including but not limited to special, incidental, direct or indirect damages resulting from delay or loss of use of our services.

You bear all risk from any use or results of using any information. You are responsible for validating the integrity of any information received over the Internet. We are not responsible for any damage to your computer, software, modem, telephone or other property resulting from your use of our services.

You agree to indemnify and hold harmless Herald Park Capital Management and its third party providers from and against any and all claims, losses, liability, costs and expenses (including reasonable attorneys fees) arising from your use of this website.

Transmission may be subject to arbitrary delays beyond our control, which may delay the provision of our services and the execution of your orders. You acknowledge that neither any information service provider, third party nor we will be liable to you or any third party for any losses arising from such delay.

Herald Park Capital Management Investment Management (Asia Pacific), Limited is currently licensed by Hong Kong’s Securities and Futures Commission (SFC). However, neither the Herald Park Capital Management nor any of its sub-funds is currently authorized by the SFC and, hence, the umbrella fund and its sub-funds are not available for investment by Hong Kong retail investors.

The information on this website has not been reviewed by the SFC or any regulatory authority in Hong Kong.

Copyright
The data is protected by copyright and other intellectual property laws and all ownership rights remain with the information service provider or the third party or us, as the case may be. You may not copy, distribute, modify, reproduce, post, transmit or frame in this website including text, graphics, video, audio, software code, user interface design or logos without the prior written consent of Herald Park Capital Management. The Herald Park Capital Management’ logo, Herald Park Capital Management and Herald Park Capital Management are registered trademarks of Herald Park Capital Management Proprietary Holdings, Inc. Certain data accessible on this website is the intellectual property of the relevant news and information services provider or third parties that provide such data to the relevant service provider, or us.

Links
This website may have links to third party websites, which are not under Herald Park Capital Management’s control. Herald Park Capital Management will incur no liability for any content, service, product or material offered through any linked site. You access to third party linked websites at your own risk.

Herald Park Capital ManagementÆ Privacy Commitment
It’s a Matter of Privacy-Yours
Trust is the foundation of any solid relationship. At Herald Park Capital Management, trust takes on even greater importance because you are entrusting your money to our care. We understand you are also entrusting us with your goals and plans for your financial future. We take that responsibility seriously and work hard to do the right thing. We apply this same integrity to protecting your privacy.

We do not sell your personal information to anyone.
Because we limit the use of your personal information, there is no opportunity for you to opt out of sharing it with third-party service providers. Please know these companies are not authorized to use it or share it for any purpose other than to help us serve you.
The Herald Park Capital Management group of companies provides this notice, which describes the type of personal information we collect, how we use it, your options for limiting our use of it and, perhaps most important, what we do to protect it. You may limit us from using the personal information you provide to us to market other Herald Park Capital Management products or services to you and joint account owners under your Tax Identification number. To opt out of receiving marketing materials about products or services from our affiliates, please call +44 20 7024 7080. Your election to opt out does not expire, but you may opt in to receive these materials at a later date if you choose.

What type of information do we collect?
The information we collect about you generally falls into one of the following categories:

Information, such as your address, Tax Identification number, your date of birth, income and investment profile, that you provide on account applications or during your business relationship with us.
Account information, such as your investment choices, account balances and transaction history.
Personal information about you, such as estimated household income and investable assets, that consumer reporting agencies and other organizations may provide to us.
If you conduct business with us online, you may notice our use of Internet “cookies”-electronically transmitted files that hold small pieces of information. When you navigate through our website, your browser requests pages for you to review. That request includes the information stored in the cookie we previously sent to your computer. Cookies help us better understand how investors use our website, so we can improve your online experience. Once you are logged in, cookies maintain your security as you move from page to page within the website. You can learn more by visiting sec.com and searching the keyword “cookie.”

How do we use the information we collect?
We use the information we collect primarily to maintain your accounts and process your transactions. In doing so, we may share this information with other financial services companies in the Herald Park Capital Management corporate family, such as the transfer agent and distributor for our mutual funds. We also may share this information with outside service providers that we retain to perform administrative or other services on our behalf. Examples include print and mail service providers that assist us in distributing materials, such as statements, prospectuses and reports. We also may share this information with others under certain limited circumstances permitted by law, such as to resolve a dispute or prevent fraud.

Do we use this information for marketing?
Our vision, which drives all our company activities, is to help people achieve their financial goals. We rely on the information we collect to help us better understand you and your investing needs. This allows us to offer relevant investment products and services that may interest you. From time to time, we may share this information with other financial services companies in our corporate family. On occasion, we also may share it with others we retain to help us with our research efforts, mailings or other marketing or communication activities.

How do we protect your information?
We treat all personal information as confidential and use it solely and exclusively to provide financial products and services for your benefit.

We do not sell the personal information we collect. All non-Herald Park Capital Management service providers with whom we share personal information are not authorized to use or share it for any purpose other than to help us serve you.

Our policies limit access to your personal information to those who must have it to service and maintain your account. We have physical, electronic and procedural safeguards to protect this information. We regularly review these safeguards and adjust them as appropriate. We treat information about our former customers with the same care we take with current customers’ information.

We believe that your privacy should be respected. We appreciate and take seriously your trust in us and our ability to safeguard your personal information. For more information, please visit sec.com and search the keywords “privacy commitment.” Or, you may contact us at the following address:

Herald Park Capital Management
30 Haymarket
London, SW1Y 4EX
United Kingdom

General Risk Factors
Past Performance is no guide to or guarantee of future returns. Please note that the price of shares and the income from them can fall as well as rise and you may not get back the amount originally invested. Income receivable may vary from the amount of income projected at the time of making the investment.

Exchange rate fluctuations may affect the value of an investment and any income derived from it.
If you exercise any right to redeem, you may not get back the amount initially invested if the share prices has fallen since you invested.
There can be no guarantee that the tax position or proposed tax position prevailing at the time of the investment will not change.
Dividends and capital gains on shares issued in Herald Park Capital Management may be subject to withholding taxes imposed by the countries in which each particular sub-fund invests.
The list of risk factors is not exhaustive and you should refer to the Simplified Prospectus and Prospectus for additional risk factors pertaining to that investment or relevant sub-fund.

1. Copyright. Copyright © Herald Park Capital Management. All Rights Reserved. Copyright in the pages and in the screens displaying the pages, and in the information and material therein and in their arrangement and “look and feel” (collectively, the “Site”), is owned by Herald Park Capital Management or its affiliates (“Herald Park Capital Management∆”) unless otherwise indicated. Herald Park Capital Management expressly authorizes each authorized user to copy electronically or print in hard copy the documents published on the Site for internal reference purposes or other non-commercial, personal use, but not for any other use.

3. Use of Information and Materials. The information and materials contained in the Site, and the terms, conditions, and descriptions that appear, are subject to change. Unauthorized use of the Site and Herald Park Capital Management’s systems including but not limited to unauthorized entry into Herald Park Capital Management’s systems, misuse of passwords, or misuse of any information posted on a site is strictly prohibited. Your eligibility for particular products and services is subject to final determination by Herald Park Capital Management and/or its affiliates. The investment funds described on the Site have not been registered under the federal securities laws of the United States, the securities laws of any state, or the laws of any other jurisdiction. The information and materials contained in the Site do not constitute a recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. In addition, such information is not intended to provide tax, legal or investment advice. In the event of any discrepancy between information displayed on the Site and information sent in paper or “hard copy” form to any user from time to time, the information contained in the hard copy version shall be deemed to be correct.

4. Links. THE SITE MAY CONTAIN LINKS TO WEB SITES CONTROLLED OR OFFERED BY THIRD PARTIES (NON-AFFILIATES OF Herald Park Capital Management). Herald Park Capital Management HEREBY DISCLAIMS LIABILITY FOR ANY INFORMATION, MATERIALS, PRODUCTS OR SERVICES POSTED OR OFFERED AT ANY OF THE THIRD PARTY SITES LINKED TO THE SITE. BY CREATING A LINK TO A THIRD PARTY WEB SITE, Herald Park Capital Management DOES NOT ENDORSE OR RECOMMEND ANY PRODUCTS OR SERVICES OFFERED OR INFORMATION CONTAINED AT THAT WEB SITE, NOR IS Herald Park Capital Management LIABLE FOR ANY FAILURE OF PRODUCTS OR SERVICES OFFERED OR ADVERTISED AT THOSE SITES. SUCH THIRD PARTY MAY HAVE A PRIVACY POLICY DIFFERENT FROM THAT OF Herald Park Capital Management AND THE THIRD PARTY WEBSITE MAY PROVIDE LESS SECURITY THAN THE APEX CAPITAL SITE.

5. No Warranty. THE INFORMATION AND MATERIALS CONTAINED IN THE SITE, INCLUDING TEXT, GRAPHICS, LINKS OR OTHER ITEMS ARE PROVIDED “AS IS”, “AS AVAILABLE”. APEX CAPITAL DOES NOT WARRANT THE ACCURACY, ADEQUACY OR COMPLETENESS OF THIS INFORMATION AND MATERIALS AND EXPRESSLY DISCLAIMS LIABILITY FOR ERRORS OR OMISSIONS IN THIS INFORMATION AND MATERIALS. NO WARRANTY OF ANY KIND, IMPLIED, EXPRESSED OR STATUTORY INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF NON-INFRINGEMENT OF THIRD PARTY RIGHTS, TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND FREEDOM FROM COMPUTER VIRUS, IS GIVEN IN CONJUNCTION WITH THE INFORMATION AND MATERIALS.

6. Limitation of Liability. IN NO EVENT WILL APEX CAPITAL OR ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY DAMAGES, INCLUDING WITHOUT LIMITATION DIRECT OR INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES ARISING IN CONNECTION WITH THE SITE OR ANY LINKED SITE OR USE THEREOF OR INABILITY TO USE BY ANY PARTY, OR IN CONNECTION WITH ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS OR LINE OR SYSTEM FAILURE, EVEN IF Herald Park Capital Management, OR REPRESENTATIVES THEREOF, ARE ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, LOSSES OR EXPENSES.

7. Third Party Information. From time to time, information, including news, company reports and other data, prepared by outside parties (non Affiliates of Herald Park Capital Management) may appear on the Site. By accepting these Terms of Use, the user acknowledges that such third party information is for the user’s personal use only and that the user will not retransmit or republish it in any form. The user acknowledges that any such third party information is obtained from sources believed to be reliable, is provided solely on a best efforts basis for the user’s convenience, and that no representations, warranties or guarantees are made by Herald Park Capital Management or any provider of such third party information as to the accuracy, completeness, timeliness or correct sequencing thereof. Third party information has been prepared as of the date(s) indicated and may become unreliable because of subsequent market or economic circumstances. Neither Herald Park Capital Management nor the provider of such information is under any obligation to update such information or continue to offer such information.

8. Submissions. All information submitted to Herald Park Capital Management via the Site shall be deemed and remain the property of Herald Park Capital Management and Herald Park Capital Management shall be free to use, for any purpose, any idea, concepts, know-how or techniques contained in information a visitor to the Site provides Herald Park Capital Management through the Site. Nothing contained herein shall be construed as limiting or reducing Herald Park Capital Management’s responsibilities and obligations to customers in accordance with the Herald Park Capital Management Privacy Policy.

9. Availability. The Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. Herald Park Capital Management reserves the right to terminate, without prior notice, any person’s access to this Site in its sole discretion.

10. Additional Terms. Certain sections or pages on the Site may contain separate terms and conditions, which are in addition to these terms and conditions. In the event of a conflict, the additional terms and conditions will govern for those sections or pages. Nothing contained herein shall supersede, alter or nullify the terms of any other agreements an investor has made or will make with any products of Herald Park Capital Management.

11. Governing Law; Injunctive Relief. Use of the Site shall be governed by all applicable Federal laws of the United States of America and the laws of the State of New York without giving effect to the conflict of laws provisions thereof, other than New York General Obligations Law Sections 5-1401 and 5-1402. The user hereby acknowledges and agrees that Herald Park Capital Management may be harmed irreparably by any violation of this Agreement and that Herald Park Capital Management shall be entitled to injunctive relief to enforce this Agreement. The user hereby agrees to waive any requirement for the securing or posting of any bond in connection with such remedy.