Certification Disclaimer

Self-Certified Investor

I declare that I am a self-certified sophisticated investor, a professional investor that meets the criteria laid down in Annex II of MiFID II (per se professional investor and clients requesting to be treated as professional investors):

(a) Credit institutions;

(b) Investment firms;

(c) Other authorised or regulated financial institutions;

(d) Insurance companies;

(e) Collective investment schemes and management companies of such schemes;

(f) Pension funds and management companies of such funds;

(g) Commodity and commodity derivatives dealers;

(h) Locals;

(i) Other institutional investors;

(j) Large undertakings meeting two of the following size requirements on a company basis:

-           balance sheet total: EUR 20 000 000

-           net turnover: EUR 40 000 000

-           own funds: EUR 2 000 000

(k) National and regional governments, including public bodies that manage public debt at national or regional level, Central Banks, international and supranational institutions such as the World Bank, the IMF, the ECB, the EIB and other similar international organisations.

(l) Other institutional investors whose main activity is to invest in financial instruments, including entities dedicated to the securitisation of assets or other financing transactions.EN 12.6.2014 Official Journal of the European Union L 173/483

The persons may that are not listed above may also ask to be treated as professional clients, provided that they at least, meet two of the following criteria:

-           the client has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters,

-           the size of the client’s financial instrument portfolio, defined as including cash deposits and financial instruments exceeds EUR 500 000,

-           the client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.


All clients that would not qualify as a professional client as the Annex II of MiFID II is therefore a retail client and cannot access the protected area of the website.


Important Disclaimer Notice:

Access to the protected area of the website

This section of the website is only directed at professional investors within the meaning of the Directive 2004/39/CE and MIFID II, and is not suitable for individual investors; If you are an individual investor, you do not access this section of the website.

This website is not directed at any person in any jurisdiction where the publication or availability of the website is prohibited, due to that person's nationality or residence. Persons to whom such prohibitions apply must not access this website. Persons accessing the website are aware that they are solely responsible for compliance with applicable laws and regulation of their country of residence and/or citizenship. If in doubt, they should seek advice from their independent tax advisor, legal counsel, and/or financial advisor.

This website is not intended for citizens or residents of the United States of America or "U.S.Persons" as defined by "Regulation S" under the U.S. Securities Act of 1933. No investment product presented herein is registered under the Securities Act of 1933 or any other United States regulation. Then, they cannot be offered or sold directly or indirectly in the United States of America, to or to the benefit of residents and citizens of the United States of America and to «U.S. Persons».

Absence of advice or offer

The information provided in this website should not be considered as an offer, or solicitation, to deal in any of the investments or funds mentioned herein, by anyone in any jurisdiction in which such offer or solicitation would be unlawful or in which the person making such offer or solicitation is not qualified to do so. The information on the website is being provided for informational purposes only and does not constitute an advertisement, a personal recommendation or an investment advice.

No assurance or guarantee

All data and material have been obtained from sources believed to be reliable, but their accuracy is not guaranteed. The data, comments and analysis provided in this website reflect the opinion of Chambery Capital and its affiliates with on the basis of its own expertise, economic analysis and information currently applicable. They are subject to modification without prior notice. Information provided in this website shall not be considered as any kind of undertaking or guarantee whatsoever from Chambery Capital and its affiliates.

Information on risks

Any investment involves specific risks. All potential investors must take prior measures and specialist advice in order to analyse the risks and establish his or her own opinion independent of Chambery Capital in order to determine the relevance of such an investment to his or her own financial situation. Before making any investment decision, investors should read the relevant offering documents and in particular the investment policies and the risk factors. Investors should ensure they fully understand the risks associated with the investment and should also consider their own investment objective and risk tolerance level. If in doubt, they should seek independent financial and professional advice.


Information on investment performance

Past performance is not a reliable indicator of future results. Market and exchange rate fluctuations may cause the capital value of investments and the income from them, to go down as well as up and the investor may not get back the originally invested amounts.