ACCESS TO THE SITE

The site is subject to Luxembourg Law. The site is not intended for persons under jurisdictions where (for reasons of nationality, place of residence or for any other reason) the dissemination or access to such information is prohibited.

If users are not Luxembourg residents, it is their sole and entire responsibility to verify in advance that the regulations applicable to them authorise them to make use of the information published on the site.

More specifically, the information is in no way intended for American citizens and residents.

Finally, TreeTop Asset Management reserves the right to refuse, at its own discretion, any subscription for a non-resident.

LEGAL NOTICE

Browsing on this site is subject to Luxembourg Law and to the terms and conditions set out hereinafter. By continuing to browse on the site, you demonstrate your acceptance of these contractual terms and conditions.

IDENTIFICATION

TreeTop Asset Management S.A. (“TreeTop AM”) is a société anonyme incorporated in accordance with Luxembourg Law. It has been constituted in Luxembourg on the 21 st of March 2005 under the name “Convertible Advisory Management SA” and then “Camfunds SA”. Its subscribed and released capital is EUR 5 millions. TreeTop AM is active in the collective management of Luxembourg and/or foreign UCITS agreed in accordance with European directive 85/611/CEE as modified, as well as other Luxembourg and/or foreign Investment Funds. The activities of collective management of UCITS and Investment Funds include the asset management, the administration and the distribution of Investment Funds.

The address of TreeTop AM registered office is 12, rue Eugène Ruppert, L-2453 Luxembourg. TreeTop AM is registered in the registre du commerce de Luxembourg under number B-106890 and authorised by the CSSF as enacted in the Chapter 13 of the Law of December 2002.

INFORMATION

The information disseminated on the site, whether general (e.g. market news) or specific (e.g. investment products), is provided on a purely indicative basis. No guarantee is given as to whether the information published is complete, accurate or current. The information does not constitute in any manner whatsoever a solicitation to buy or sell. It has no value as legal, accounting or fiscal advice and is only valid at the time when it is given. It not intended as a substitute for the knowledge and competence of the user and should be used in conjunction with advice from a qualified professional. The information and its publication are subject to Luxembourg Law. Users access information from other jurisdictions at their own risk. Past performance is in no way a guarantee of future performance. The information may be supplied by outside providers. Except in the case of willful misrepresentation or serious misconduct, TreeTop AM cannot be held responsible to users of the information, or for direct or indirect consequences of its use.

LINKS TO THIRD PARTY SITES

The TreeTop AM 's site may contain links to third party sites that are not under its control. Certain links are offered for convenience only and the inclusion of a link in no way implies that TreeTop AM agrees with the contents of the linked site. TreeTop AM is not liable for the content, services, products or material offered at a site linked to that of TreeTop AM.

No link is established with the site without TreeTop AM's prior consent. Links to the TreeTop AM's Site using techniques such as framing and/or deep linking are not permitted. TreeTop AM is under no circumstances responsible for links made to its site.

INTELLECTUAL PROPERTY RIGHTS

Information and products being on this site are protected by intellectual property rights held and asserted by TreeTop AM.
All these elements and information must not be resold or redistributed by any means whatsoever without prior written consent of TreeTop AM.

LIABILITY

The user accepts responsibility for any access to the site or any use made thereof. TreeTop AM will not be liable for direct or indirect losses that may arise out of the use of the site and in connection with the interruption, stoppage or malfunctioning of the site especially as may arise out of stoppages for maintenance purposes or in order to update TreeTop AM's IT systems, technical breakdowns or network overloads, cuts in telephone communications, errors, negligence or fault on the part of Internet service suppliers or third parties or due to a virus spread on the Internet.

LUXEMBOURG LAW AND LUXEMBOURG JURISDICTION

The governing law is the Luxembourg law.

The user is notified that only the District Courts of and in Luxembourg have jurisdiction concerning any disputes arising out of the use, interpretation and performance of information and data contained in this site.

LANGUAGE

The only authentic version of the site is the French language version. If there is a discrepancy with the versions in another language, the French version is the legally binding authority.

E-MAIL

TreeTop AM's Site enables you to contact TreeTop AM by e-mail. The reception, the punctuality and the security of e-mails are not totally granted. In regard of this lack of security TreeTop AM recommends to not send by e-mail any urgent or important data (e.g. confidential or private data). TreeTop AM will not be liable for consequences of any request that has not been received, confirmed or treated. TreeTop AM will not be liable in case of your e-mail would be intercepted by a third person.

PERSONAL DATA

TreeTop AM's site users are informed that TreeTop AM can receive personal data from the users and treat these in automated data processing. Users are aware that some cookies (temporary data that make the web surf easier) can be kept on their software. Website users allow TreeTop AM to act in this manner. They can ask TreeTop AM to change their personal data, in accordance with the Law of the 2 nd Augustus 2002, by writing to TreeTop AM at the above mentioned address.

RENUNCIATION TO A GUARANTEE AND CLAUSE OF NON-LIABILITY

This Internet site is placed at your disposal "just as it is" without any guarantee (express or implicit), including the guarantee of non violation of the rights of others or that to be deprived of any data-processing virus. TreeTop AM cannot be held responsible and declines any responsibility in the event of errors, omissions, interruptions of service or delays. In the absence of encrypted data, Internet does not constitute a protected medium of communication. TreeTop AM will not be responsible for the intrusion on the site of unauthorized persons nor for the diffusion on the site of corrupted data. If a provision relating to the general conditions of use would be considered to be non applicable, the relevance of the remaining provisions will not be questioned. The failing provision will be replaced in a way suitable and in conformity with the intention which could not be expressed in the preceding provision. TreeTop AM reserves the right to modify the contents of the site or to make it inaccessible. TreeTop AM is likely to modify constantly the general conditions of use, with immediate effect and without preliminary notice.