Disclaimer

Access Restrictions

For legal reasons the information contained in the following pages is directed at visitors from certain countries only.

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Important legal information for investment instruments, products and services ("financial products")

The following section of the website of Alpiq Eurotrade S.à r.l. (hereafter referred to as "Alpiq Eurotrade") contains information and opinions on investment instruments, products and services (hereafter referred to as "financial products" and "financial products section") which, pursuant to European Directive 2004/39/EC on Markets in Financial Instruments dated 21 April 2004, may be offered only to persons (natural persons or legal entities) domiciled within the European Economic Area (EEA). You may only visit the financial products section if you have carefully read, understood and accepted the following important legal information on financial products:

Agreement

By accessing the following website section containing information and opinions about financial products, you declare that you have understood the important legal information and that you expressly agree with it.

Local legal restrictions

The following section on financial products contains information and opinions on financial products. It is not intended for persons (natural persons or legal entities) for whom use of or access to the Alpiq Eurotrade website would contravene the laws of their state (due to nationality or domicile/registered office of the person concerned or for other reasons). Such persons are not permitted to access the website containing information and opinions about financial products. This applies in particular to citizens and/or inhabitants of the USA.

The contents of the financial products website present AAlpiq Eurotrade. Not all the financial products presented on this website are available to or suitable for all people in all countries. Whether a financial product may be offered to a certain person depends on the provisions of law and regulations applicable in the relevant country.

No offer

The contents published in the section on financial products do not constitute an invitation or offer to acquire, hold or sell the financial products mentioned on this website, nor an invitation or offer to engage in other transactions or legal business. They serve exclusively the purpose of personal use and informational purposes and, as with this important legal information on financial products, may be changed by Alpiq Eurotrade at any time without prior notification.

The contents in the section on financial products are not recommendations for your investment decisions or other decisions and do not constitute any type of advice whatsoever. However, before investing in a financial product investors should carefully read through the currently valid legal documents as well as all other documents which may be required under local legal provisions and regulations. A detailed study of the legal aspects and risk indications is particularly important. It is recommended that expert advice be obtained before an investment decision is taken.

No guarantee

Alpiq Eurotrade takes the greatest possible care when compiling content on the financial products. Alpiq Eurotrade and its contracting partners provide no guarantee (including liability in respect of third parties) concerning the correctness, up-to-dateness and completeness of the published contents. In particular, there is no obligation on the part of Alpiq Eurotrade to update the contents or remove contents that are obsolete.

Furthermore, Alpiq Eurotrade accepts no responsibility and provides no guarantee that the functions of the website containing content on financial products will not be interrupted or that they are free from errors, that errors will be rectified or that the website or the relevant server is free from viruses or other harmful elements and programs.

Risk/performance

The following fundamental principle applies: The higher the risk (fluctuations in prices), the longer the investment duration should be and the higher the potential returns. The value of the capital invested and the income from it are subject to fluctuations and may cease altogether. Investments in foreign currencies are subject to direct and indirect exchange rate fluctuations. As a matter of principle, individual financial products are subject to higher risks (e.g. investment funds which invest predominantly in emerging markets). Positive past performance (value growth) is therefore no guarantee of a positive development in future. Alpiq Eurotrade can therefore provide no guarantee of preservation of value (or an increase in value) of the capital invested, and investors must be prepared and be in a position to accept substantial losses or even total losses.

Performance calculation does not take into account any charges and costs levied when purchasing, holding or selling the financial product (e.g. commissions and costs charged for the subscription and redemption of fund shares).

Exclusion of liability

Where legally permissible, Alpiq Eurotrade and its contracting partners accept no liability (including negligence and liability in respect of third parties) for any losses arising from direct, indirect or consequential losses of any type associated with the use of the website containing information and opinions about financial products and contents included therein or with the risks of financial markets.

Applicable law/place of jurisdiction

Access to and use of the Alpiq Eurotrade website as well as this important legal information on financial products are subject to Luxembourg law. The place of jurisdiction is Luxembourg.

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