Legal Notice
Fraternitas SICAV p.l.c. (the “SICAV”) is an investment company with variable share capital incorporated in terms of the Companies Act, (Cap. 386 of the Laws of Malta) on the 12/10/2007 with registration number SV70. The Company is licensed by the Malta Financial Services Authority (the “MFSA”) in terms of Article 6 of the Investment Services Act, 1994 and qualifies as a ‘Maltese UCITS’ pursuant to the Undertakings for Collective Investment in Transferable Securities and Management Companies Regulations, 2004, Legal Notice 207 of 2004, as amended. This authorisation however, does not constitute a warranty by the MFSA as to the performance of the Company and the MFSA shall not be liable for the performance or default of the Company. Authorisation of the Company is not an endorsement or guarantee of the Company by the MFSA nor is the MFSA responsible for the contents of this Prospectus.

The shares of the SICAV are offered on the basis of the information and representations contained in Prospectus. Any information or representation given or made by any selling agent or other person not contained herein or in the documents referred to here in should be regarded as unauthorised and should accordingly not be relied upon.

This information is not an invitation to subscribe for units or shares in the funds described herein and is by way of information only. The SICAV does not give investment advice or recommendations in. If there is anything which you do not understand you should contact your financial adviser.

You should carefully read the prospectus and/or the terms and conditions relating to any product purchased. All information is provided “as is”, without any representations or warranties of any kind, and the SICAV expressly disclaims all express and implied warranties including those with respect to accuracy, completeness, timeliness or fitness for a particular purpose.

The SICAV assumes no responsibility for any losses, whether direct, indirect, special or consequential, which arise out of the use of this Web site.

This site is for use by retail and non-retail unvestors only where the SICAV has been authorised for distribution. Access to this information may be restricted or prohibited to certain investors by local law applicable to individual investors. Investors under such restrictions by reason of nationality, domicile, residence or any other ground should not access this site. Moreover this site does not constitute an offer or request to enter into business in a jurisdiction where such activity is prohibited and where the SICAV is not authorised for distribution.

Past performance is not a guide to the future. The value of investments, and the income from them, can go down as well as up. You may not get back the amount you have invested. You should be aware that currency fluctuations, either up or down, may also affect the value of an investment.

No Warranty of Content
Fraternitas SICAV plc bases the information on this web-site on sources it considers reliable and takes care to ensure that the information contained in the web-site is accurate and current at the time of publication. Nonetheless, Fraternitas SICAV plc makes no warranty of any kind that the information contained in the web-site is ultimately reliable or complete. The information contained in the web-site is published with no warranty, whether explicit or implicit. Fraternitas SICAV plc offers no guarantee against the information being distorted by technical malfunctions. None of the information contained in this web-site constitutes legal, fiscal, or any other kind of investment advice, nor should it be relied upon to make investments or for any other kind of decision-making. Specific and professional expertise is always required for any investment decision.

Limitation of Responsibility
In no case, including cases of negligence, can Fraternitas SICAV plc be considered responsible for damages of any kind.

Links with Other Web-sites
On this web-site, connections (links) may be present to other web-sites. The links are provided only as references for information on subjects that may prove useful to the user. Via the links that may be present on this web-site, the user may leave Fraternitas SICAV plc’s web-site. Fraternitas SICAV plc has no control over the web-sites linked to its own web-site, and accepts no responsibility for the content of those web-sites, nor for the products, services, or other facilities that they may offer. Fraternitas SICAV plc does not guarantee that those web-sites or their contents are free of any issues or demands concerning copyright, trademarks, or other infringements on the rights or others, or that those web-sites are free of viruses or other forms of infection. There is no guarantee concerning the authenticity of documents on the Internet. Links to web-sites outside of the Fraternitas SICAV plc web-site do not imply approval or responsibility for the opinions, ideas, products, information, or services provided by those web-sites, or any declaration concerning the content of those web-sites. By clicking an outside link, you are interacting with a third-party web-site, which may exploit any vulnerability of the browser being used to take over the Fraternitas SICAV plc session directly from the user’s computer. Fraternitas SICAV plc offers no guarantees of any kind that the linked web-site or any software that may be present in it meet the requirements in effect for content, standards of behavior, reliability, absence of interruptions, timeliness, security, or accuracy.

Conflicts of Interest
Fraternitas SICAV plc and/or its officers, employees, and collaborators may have or have had interests or positions or may have performed transactions in the shares, securities, and instruments present on this web-site. Moreover, these institutions or person may have or may have had links with interested corporations, or they may have provided financial or other services, or may be officers or executives of those corporations.

Return on Investments
There is no guarantee that positive performance in the past ensures positive performance in the future. Investors should always be aware that prices, as well as investments in foreign currencies, may be subject to fluctuations. There is no guarantee of safeguarding capital.

Last update: 23 April 2010