This document is issued by Stouff Capital. It is neither directed to, nor intended for distribution or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation.
The information and data presented in this document are not to be considered as an offer or solicitation to buy, sell or subscribe to any securities or financial instruments. Information, opinions and estimates contained in this document reflect a judgment at the original date of publication and are subject to change without notice. Any reference to benchmarks/indices herein are provided for information purposes only. No benchmark/index is directly comparable to the investment objectives, strategy or universe of Stouff Capital. For further information on the index please refer to the website of its service provider.
Stouff Capital has not taken any steps to ensure that the securities referred to in this document are suitable for any particular investor and this document is not to be relied upon in substitution for the exercise of independent judgment. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. Before making any investment decision, investors are recommended to ascertain if this investment is suitable for them in light of their financial knowledge and experience, investment goals and financial situation, and/or to obtain specific advice from an industry professional.
The value and income of any of the securities or financial instruments mentioned in this document may fall as well as rise and, as a consequence, investors may receive back less than originally invested. The investment risks described herein are not purported to be exhaustive. Past performance is neither guarantee nor a reliable indicator of future results. Performance data does not include the commissions and fees charged at the time of subscribing for or redeeming shares. Investors investing in investments and/or treasury products denominated in foreign currency should be aware of the risk of exchange rate fluctuations that may cause loss of principal when foreign currency is converted to the investors home currency. This document is confidential and intended solely for the use of the recipient. It must not be reproduced, distributed or published in whole or in part by any recipient for any purpose without the prior consent of Stouff Capital. Investment in any of the investment funds managed by Stouff Capital should not be made without preliminary careful consultation of the most recent fund documentation (prospectus, annual report and other available documents) and should take into account the personal and fiscal situation of the investors as well as possible restrictions applicable to certain categories of investors. Potential investors should also check prior to considering any possible investments in such funds their status of registration in the country where each investor is domiciled and should seek independent advice on the suitability or otherwise of the particular investment
The state of the origin of the Fund is Cayman Islands. This document may only be distributed in or from Switzerland to qualified investors within the meaning of Art. 10 Para. 3, 3bis and 3ter CISA. The Representative in Switzerland and the Paying Agent are REYL & Cie Ltd, rue du Rhône 62, CH-1204 Geneva. In respect of the units distributed in or from Switzerland, the place of performance and jurisdiction is at the registered office of the Swiss representative. The constitutive documents of the Fund as well as the annual report may be obtained free of charge at the registered office of the Swiss Representative.

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