Risk Notice & Disclaimer

These and all exclusions are governed by English law. The parties submit to the non-exclusive jurisdiction of the courts of England and Wales. These exclusions refer to Kudos Capital Partners Limited Liability Partnership (Kudos Capital), authorised and regulated by the Financial Services Authority.

Past performance information must never be construed as investment advice or a prediction of future performance. All information presented as factual derives from material published by or on behalf of the investment funds concerned; any information should not relied upon as investment advice. This document is designed only to provide the basis for informed discussion between investment professionals.

All services of Kudos Capital are not available to private investors. This or other documents does not constitute an offer or solicitation to purchase shares in any of the investments described or mentioned herein. Kudos Capital does not perform "due diligence" on investor’s behalf, and is not responsible for potential investors decisions. Kudos Capital has audited none of the financial information set out herein or in any of the attachments to this document, and makes no representations or warranties as to the accuracy or completeness of such information. 

Furthermore, Kudos Capital reserves the right to only communicate with market counterparties or intermediaries, as defined by the client classification rules under the Financial Services and Markets Act 2000, and anyone who is not one of these parties must identify themselves as such, and decline further correspondence. Kudos Capital reserves the right to decline requests for information from potential investors. Any investor warrants they meet legally eligible criteria for a qualified investor, and make such statements on their own responsibility. Furthermore, potential investors should be aware that Kudos Capital does not offer investment advice in any way.

Information and details of such investments, managers or their products, or the laws or circumstances, may change, and it is the requirement of any investor or those making, or considering to make, such investments, that they conduct due diligence on any and all investment. All investments must be made and may be accepted, only on the basis of the Fund's offering document alone, and this memorandum may only be distributed to those eligible to receive that document.

Hedge Funds: NASD Risk Warning

The National Association of Securities Dealers (NASD) in the United States observes that unregistered private investment funds, managed accounts or pools, which employ different investment, hedging, leverage and arbitrage methodologies, with exposure to many different securities and futures markets,  are not subject to the same regulatory requirements as mutual funds or unit trusts, including mutual fund / unit trust requirements to provide certain periodic and standardized pricing and valuation information to their investors. Kudos Capital, though not itself an NASD member firm, feels that these points may usefully be drawn to the attention of such potential hedge fund investors as may be unaware of them. Readers should note the following.

• Any investment in the funds should be discretionary capital set aside strictly for speculative purposes.
• Investment into funds with different currency from the investor’s base currency may be adversely effected by changes in currency exchange rate, outside the performance of the fund
• The funds may be leveraged and a fund’s performance can be volatile.
• The funds represent speculative investments and involve a high degree of risk.  An investor could lose all or a substantial portion of his/her investment.
• Some funds may execute a substantial portion of trades on foreign exchanges, which could mean higher risk.
• Some funds may use a single advisor or employ a single strategy, which could mean a lack of diversification and higher risk.
• An investment in the funds may be illiquid and there are significant restrictions on transferring interests in a fund.  There is no secondary market for an investor’s investment in a fund and none is expected to develop. 
• A fund’s fees and expenses-which may be substantial regardless of any positive return-will offset the fund’s trading profits.
• Some funds may involve complex tax structures and delays in distributing important tax information.
• This summary is not a complete list of the risks and other important disclosures involved in investing in the funds and is subject to the more complete disclosures contained in the funds’ respective offering documents, which should be reviewed carefully.
• All performance information is net of applicable fees unless otherwise specifically noted. This material is provided for informational purposes only as of the date hereof and is subject to change without notice. 
• Kudos Capital and the fund managers whose products are contained in any material distributed by Kudos Capital, are not bound or liable for any errors, ommisions or inaccuracies.
• Kudos Capital reserves the right to record any and all commmunications for the purpose of legal or training reasons.