Disclaimer

This publication is intended for information purposes only and does not constitute a contractual offer or an investment advice. All the information set out in this document have been obtained by Mirabaud & Cie Ltd from sources deemed reliable and trustworthy but no declaration or guarantee is provided as to their accuracy or completeness. This publication is not the result of independent financial research. Therefore the legal requirements as per the Directives on the Independence of Financial Research of the Swiss Bankers Association do not apply. The investments mentioned in this publication may not be suitable for all recipients and may not be available for the residents of all countries.

This publication has been prepared without taking into consideration the objectives, financial situation or needs of any particular investor. Any investment decision should only be made by the investor after making a detailed and appropriate analysis, taking into account the sales restrictions and any other risk factor, as well as the legal, regulatory, tax and/or accounting consequences of the specific investment. The recipient of this publication shall in particular be advised by a professional advisor to consider the suitability of a particular investment taking into consideration his personal and financial situation. The performance indications referred to in this document are not a forecast or guarantee of future results. This publication may only be distributed in countries where its distribution is legally permitted. It is not intended to be distributed to any person in any jurisdiction where the access to such publication is not authorized, by reason of that person’s nationality, residence or otherwise. The analysis and conclusions in this document are subject to change and may be revised at any time by Mirabaud & Cie Ltd.

Mirabaud & Cie Ltd does not accept liability for any loss arising from the use of the information available in this publication.