Research Disclaimer
Any research reports and accompanying notes received in writing or by email ("the Reports") from Liability Solutions Limited and/or its associate in Connecticut, Liability Solutions, (together, "Liability Solutions") are not an offer to sell or the solicitation of an offer to buy or subscribe to any investment fund. The investment funds referred to in these Reports may not be eligible for sale in some jurisdictions. The information contained in these Reports has been compiled by Liability Solutions from sources that it believes to be reliable but no representation or warranty is made or guarantee given by Liability Solutions or any other person as to its accuracy or completeness. All opinions and estimates expressed in these Reports are (unless otherwise indicated) entirely those of Liability Solutions as of the date of the Reports only and are subject to change without notice. Neither Liability Solutions nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of the Reports or their contents or otherwise arising in connection therewith. Past performance is not a guide or otherwise indicative of future results, and investors should be particularly aware of the risk of interpreting short-term performance records in any manner. Each recipient of the Reports shall be solely responsible for independently confirming the information contained therein and for making its own independent investigation of the investment fund referred to in the Reports. The information contained in the Reports should not be construed as investment advice for the purposes of the Maltese Investment Services Act, 1994.
The information in these Reports is intended for (i) "Accredited Investors" within the meaning of Rule 501 of Regulation D under the U.S. Securities Act of 1933 as amended, (ii) either "Investment Professionals" under Article 14 of the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 (The "CIS Order"), or Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001, as amended or to persons qualifying as high net worth persons under Article 49 of that Order, or, if the person communicating these Reports (or causes it to be communicated) is an Authorized Person, to those persons otherwise having professional experience in matters relating to investments (including in relation to participating in unregulated collective investment schemes) and qualifying as investment professionals under Article 14 of the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001, or to persons qualifying as high net worth persons under Article 22 of that Order.
These reports contain information regarding unregulated collective investment schemes ("UCIS") and the promotion of a UCIS within the UK or from the UK is restricted by Statute. As such these reports are only made available to Professional and Eligible Counterparty customers or individuals covered by the exemptions in FSMA 2000 as defined by the FSA in their Conduct of Business Sourcebook ("COBS"). It is exempt from the general restrictions in Section 21 of the Financial Services and Markets Act 2000 as it is aimed solely at persons to whom it can legitimately be communicated. Any distribution or reproduction by recipients is strictly prohibited. If you are not the intended recipient and these Reports have been sent or passed on to you in error, please contact us immediately.
Any recipient of these Reports understands that Liability Solutions has a client relationship with the Manager of the investment fund and that it will be compensated by the Manager for its services. Typically such compensation ranges from 20% to 25% of the Manager's management and performance fees on the money raised attributed to Liability Solutions.
Investment in hedge funds may involve a high degree of risk. Since market risks are inherent in all securities investments to varying degrees, there can be no assurance that the investment objective of any hedge fund will be achieved. In fact, practices of short selling, leverage, limited diversification and the use of derivatives instruments, executing trades on foreign exchanges can in some circumstances substantially increase any adverse impact on a hedge fund's investment portfolio, resulting in high volatility levels as well as the risk that the entire amount may be lost. Investments in hedge funds are illiquid as no secondary market exists, while there may be restrictions on transferring interests in the funds.
Any market index information shown herein, such as that of the MSCI, S&P, Russell, or other regionally and/or sector specific equity indices, the HFR hedge fund indices, the Lehman High Yield index, the Citi 10yr Treasury index, the Citi Broad Investment Grade Bond index or other fixed income indices covering bonds of differing credit qualities and/or from different regions are included to show relative market performance for the periods indicated and not as standards of comparison, since these are unmanaged, broadly based indices which differ in numerous respects from the portfolio composition of the fund referred to in these Reports. Market index information was compiled from sources that Liability Solutions believes to be reliable. No representation or guarantee is made hereby with respect to the accuracy or completeness of such data.
If further information regarding the investment fund referred to in these Reports is required please contact Liability Solutions at its registered addresses.
Liability Solutions Ltd is a London based firm, authorised and regulated by the Financial Services Authority, providing services to institutional investors in Europe and other regions, excluding the United States. Liability Solutions is a Connecticut (USA) based firm, member FINRA, member SIPC, providing services to US institutional investors.