GEARx specific risks
- Lack of Operating History: The Fund is recently formed. There can be no assurance that the Fund will achieve its investment objectives. The past investment performance of the Manager or the Investment Manager cannot be construed as an indication of the future results of an investment in the Fund. The Fund is a newly established company with no track record upon which investors may base an evaluation. Although the Board will devote such time and effort as it determines to be reasonably required to implement the objectives of the Fund, there can be no guarantee that its undertaking will be successful.
- Risks related to Short Selling: The Fund’s investment portfolio may include short positions. Short selling involves selling securities that may or may not be owned and borrowing the same securities for delivery to the purchaser, with an obligation to replace the borrowed securities at a later date. Short selling allows the investor to profit from a decline in the price of a particular security. A short sale creates the risk of an unlimited loss, in that the price of the underlying security could theoretically increase without limit, thus increasing the cost to the Fund of buying those securities to cover the short position. There can be no assurance that the security necessary to cover the short position will be available for purchase. Purchasing securities to close out the short position can itself cause the price of the securities to rise further, thereby exacerbating the loss. In addition, if a sufficient number of market participants have entered into a short position, the short position may not react in the same way as a security would with no or limited short interest. In the case of a market downturn the short position may therefore not provide the investment return the Investment Manager expected.
- Prime Broker/Counterparty Risk: The Fund may appoint one or more Prime Brokers or Counterparties. With respect to the Fund’s right to the return of assets equivalent to investments of the Fund which a Prime Broker (if any) borrows, lends or otherwise uses for its own purposes, the Fund will rank as one of the Prime Broker’s unsecured creditors and, in the event of the insolvency of the Prime Broker, the Fund might not be able to recover such equivalent assets in full.
- Investment risk: whilst the Fund aims to deliver above zero performance irrespective of market conditions, there can be no guarantee this aim will be achieved. Furthermore the Fund may exceed its volatility limit. A capital loss of some or all of the amount invested may occur.
- Derivative risk: the Fund uses derivatives to generate returns and/or to reduce costs and the overall risk of the Fund. Using derivatives can involve a higher level of risk. A small movement in the price of an underlying investment may result in a disproportionately large movement in the price of the derivative investment. Derivatives also involve counterparty risk where the institutions acting as counterparty to derivatives may not meet their contractual obligations.
- Company shares (i.e. equities) risk: the value of Company shares and similar investments may go down as well as up in response to the performance of individual companies and can be affected by daily stock market movements and general market conditions.
- Stock Connect risk: the Fund may invest in China A-Shares through the China-Hong Kong Stock Connect (“Stock Connect”). Stock Connect is governed by regulations which are untested and subject to change. Trading limitations and restrictions on foreign ownership may constrain the Fund's ability to pursue its investment strategy.
For a more detailed explanation of risks, please refer to the "Risk Factors" section of the offering memorandum.
Important information
Europe: This document relates to a Cayman Islands-domiciled Alternative Investment Fund (AIF) which is not subject to the supervision of any EU member state. This document is intended solely for professional investors, as defined under the Alternative Investment Fund Managers Directive (AIFMD) and offered only in a limited number of jurisdictions.
UK: This document relates to an unregulated collective investment scheme for the purposes of the Financial Services and Markets Act 2000 (FSMA). Accordingly, the offering or placement of interests and the distribution of this document is restricted by law to persons who themselves are authorised under FSMA or who otherwise fall within the categories or exceptions made under FSMA.
This is a marketing communication and does not constitute and should not be construed as a recommendation or advice to any prospective investor in relation to the subscription, purchase, holding or disposition of shares in the fund. Any investment in the fund may only be made on the basis of the fund’s offering documents, which are available upon request. Prospective investors should consult their professional advisers accordingly
This information is only directed at persons residing in jurisdictions where the AIF and its shares are authorised for distribution or where no such authorisation is required.
This document is for informational purposes only and is not investment advice. Market and exchange rate movements can cause the value of an investment to fall as well as rise, and you may get back less than originally invested. Any target/potential/expected returns or performance information presented are for illustrative purposes only, are based on assumptions of future performance derived from historical data and/or prevailing market conditions. They are not guarantees or precise forecasts of future performance and should not be relied upon as such. Actual results may differ materially and will depend on a range of factors, including market conditions and the length of time the investment is held.
Information in this document has been obtained or derived from sources believed to be reliable and current. However, accuracy or completeness of the sources cannot be guaranteed.
Potential investors should be aware that this AIF is not subject to the same investor protection requirements that would apply to funds authorised under EU or UK collective investment schemes legislation.
Jupiter Asset Management (Europe) Limited acts as the Alternative Investment Fund Manager of the AIF. Jupiter Asset Management (Europe) Limited is registered in Ireland (company number: 536049) and is authorised and regulated by the Central Bank of Ireland (number: C181816).
Issued (except for in the UK) by Jupiter Asset Management International S.A. (registered address: 5, Rue Heienhaff, Senningerberg L-1736, Luxembourg) which is authorised and regulated by the Commission de Surveillance du Secteur Financier.
Issued in the UK by Jupiter Asset Management Limited, registered address: The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ, United Kingdom, authorised and regulated by the Financial Conduct Authority.
No part of this document may be reproduced in any manner without prior permission.
Legal Notice for Residents in the Republic of Argentina
This document includes a private invitation to invest in securities. It is addressed only to you on an individual, exclusive, and confidential basis, and its unauthorised copying, disclosure, or transfer by any means whatsoever is absolutely and strictly forbidden. Jupiter Asset Management International S.A. will not provide copies of this document, or provide any kind of advice or clarification, or accept any offer or commitment to purchase the securities herein referred to from persons other than the intended recipient. The offer herein contained is not a public offering, and as such it is not and will not be registered with, or authorised by, the applicable enforcement authority. The information contained herein has been compiled by [Jupiter Asset Management International S.A.], who assumes the sole responsibility for the accuracy of the data herein disclosed.
Aviso Legal para en Chile
Esta oferta privada se inicia el día segun lo establecido en el titulo y se acoge a las disposiciones de la norma de carácter general nº 336 De la superintendecia de valores y seguros, hoy comisión para el mercado financiero. Esta oferta versa sobre valores no inscritos en el registro de valores o en el registro de valores extranjeros que lleva la comisión para el mercado financiero, por lo que tales valores no están sujetos a la fiscalización de ésta; por tratar de valores no inscritos no existe la obligación por parte del emisor de entregar en Chile información pública respecto de los valores sobre los que versa esta oferta; estos valores no podrán ser objeto de oferta pública mientras no sean inscritos en el registro de valores correspondiente.
Legal Notice for Residents of Uruguay
The sale of the securities qualifies as a private placement pursuant to section 2 of Uruguayan law 18,627. The securities must not be offered or sold to the public in Uruguay, except in circumstances which do not constitute a public offering or distribution under Uruguayan laws and regulations. The securities are not and will not be registered with the Financial Services Superintendency of the Central Bank of Uruguay. The securities correspond to investment funds that are not investment funds regulated by Uruguayan law 16,774 dated September 27, 1996, as amended.
For professional investors in US Offshore only
Past performance is not a guide to future performance and may not be repeated. Investment involves risk. The value of investments and the income from them may go down as well as up and investors may not get back the amount originally invested. Because of this, an investor is not certain to make a profit on an investment and may lose money. Exchange rates may cause the value of overseas investments to rise or fall.
The Fund has not been registered under the United States Investment Company Act of 1940, as amended, nor the United States Securities Act of 1933, as amended. None of the shares may be offered or sold, directly or indirectly in the United States or to any US Person, unless the securities are registered under the Act, or an exemption from the registration requirements of the Act is available. A US Person is defined as (a) any individual who is a citizen or resident of the United States for federal income tax purposes; (b) a corporation, partnership or other entity created or organized under the laws of or existing in the United States; (c) an estate or trust the income of which is subject to United States federal income tax regardless of whether such income is effectively connected with a United States trade or business. This information is for informational purposes only and is not investment advice. Market and exchange rate movements can cause the value of an investment to fall as well as rise, and you may get back less than originally invested. Initial charges are likely to have a greater proportionate effect on returns if investments are liquidated in the shorter term. Past performance is no guide to the future. Company examples are for illustrative purposes only and are not a recommendation to buy or sell. Quoted yields are not a guide or guarantee for the expected level of distributions to be received. The yield may fluctuate significantly during times of extreme market and economic volatility. Awards and ratings should not be taken as a recommendation. The views expressed are at a point of time and are subject to change. This is particularly true during periods of rapidly changing market circumstances. Every effort is made to ensure the accuracy of the information provided but no assurance or warranties are given.
Switzerland
Copies of the Offering Memorandum may be obtained free of charge from the Company’s representative and paying agent in Switzerland,
Swiss Representative Agent :
FIRST INDEPENDENT FUND SERVICES LTD., Feldeggstrasse 12, CH-8008 Zurich
Swiss Paying Agent :
NPB New Private Bank Ltd., Limmatquai 1, CH-8001 Zurich.
Singapore Institutional/Accredited Investors Only
Please note that Jupiter GEARx Fund Limited has been entered into the List of Restricted Schemes by Monetary Authority of Singapore) as defined in regulation 2 of the Securities and Futures (Offers of Investments) (Collective Investment Schemes) Regulations 2005) under paragraph 3 or 4 of the Sixth Schedule of the Regulations. This document is not to be distributed to the retail public of Singapore.
The document is prepared for the use of existing investors of the Fund for information purposes only. Please make sure that this document is included as part of the Information Memorandum of the Fund and distributed in a bundle if it is intended to be used as an offering document to new investors of the Fund.
If you did not obtain this document through your relationship manager, please dispose of it immediately as the information contained in this document may not be up to date, and it may not be legal for you to be provided this document or to subscribe for shares in the Sub-fund. Please contact your relationship manager for further assistance.
This document has not been registered as a prospectus with the Monetary Authority of Singapore pursuant to the exemptions under Sections 304 and 305 of the SFA. Accordingly, this document may not be circulated or distributed, nor may the Securities be offered or sold, whether directly or indirectly, to any person in Singapore other than (i) to an institutional investor pursuant to Section 304 of the SFA, (ii) to an accredited investor or other relevant person, or any person pursuant to Section 305(2) of the SFA, and in accordance with the conditions specified in Section 305 of the SFA or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.
This document is issued by the Jupiter Asset Management International S.A. (registered address: 5, Rue Heienhaff, Senningerberg L-1736, Luxembourg) which is authorised and regulated by the Commission de Surveillance du Secteur Financier. It has not been reviewed by, delivered to or registered with any regulatory or other relevant authority in Singapore. Jupiter Asset Management (Europe) Limited acts as the Alternative Investment Fund Manager of the Alternative Investment Fund. Jupiter Asset Management (Europe) Limited is registered in Ireland (company number: 536049) and is authorised and regulated by the Central Bank of Ireland (number: C181816). This document is for informational purposes and should not be construed as an offer or invitation to the public, direct or indirect, to buy or sell securities. This document is intended for limited distribution and only to the extent permitted under applicable laws in Singapore. No representations are made with respect to the eligibility of any recipients of this document to acquire interests in securities under the laws of Singapore.
This document is not an invitation to subscribe for shares of Jupiter managed funds. No information in this document should be interpreted as investment advice. If you are unsure of the suitability of this investment, please contact your Financial Adviser. The Offering Memorandum is available free of charge upon request at the Registered Office, the Company’s agents and Distributors. Purchases of Shares in the Company are deemed to be made on the basis of the information contained in the Offering Memorandum. Prospective purchasers of Shares should inform themselves as to the legal requirements, exchange control regulations and applicable taxes in the countries of their respective citizenship, residence or domicile. No person is authorised to give any information or to make any representations concerning the Company other than as contained in the Offering memorandum and in the documents referred to therein, and any purchase made by any person on the basis of statements or representations not contained in or inconsistent with the information and representations contained in the Offering Memorandum shall be solely at the risk of the investor. The value of your investment and the income from it can go down as well as up, it may be affected by exchange rate variations, and you may not get back the amount invested. Past performance is no indication of current or future performance.
Hong Kong Professional Investors only
Please ensure you read the Offering Documents for this fund before making an investment decision. These documents contain important information including risk factors and details of charges. This document is intended only for “professional investors” as defined under the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong). Issued by Jupiter Asset Management International S.A. (registered address: 5, Rue Heienhaff, Senningerberg L-1736, Luxembourg) which is authorised and regulated by the Commission de Surveillance du Secteur Financier. and has not been reviewed by the Securities and Futures Commission. Past performance is no guide to the future. The value of investments and the income from them can fall as well as rise and may be affected by exchange rate variations, you may get back less than originally invested. No information in this document should be interpreted as investment advice. You are advised to exercise caution. If you are in any doubt about any of the contents of this document, you should obtain independent professional advice. Jupiter Asset Management (Europe) Limited acts as the Alternative Investment Fund Manager of the Alternative Investment Fund. Jupiter Asset Management (Europe) Limited is registered in Ireland (company number: 536049) and is authorised and regulated by the Central Bank of Ireland (number: C181816). This document is for information only and is not an offer to sell or an invitation to buy. In particular, it does not constitute an offer or solicitation in any jurisdiction where it is unlawful or where the person making the offer or solicitation is not qualified to do so or the recipient may not lawfully receive any such offer or solicitation. Any holdings and stock examples are used for illustrative purposes only and should not be viewed as investment advice. The views expressed are those of the presenter at the time of preparation and may change in the future. It is the responsibility of any person in possession of this document to inform themselves, and to observe, all applicable laws and regulations of relevant jurisdictions. The information and any opinions contained herein have been obtained from or are based on sources which are believed to be reliable, but the accuracy cannot be guaranteed. No responsibility can be accepted for any consequential loss from this information.
Legal Notice for Institutional Investors in Thailand
Jupiter Asset Management International S.A. is not a licensed entity in Thailand. It is represented that by entering into this investment / transaction of the strategy(ies) or product mentioned in this document is within the scope of the client’s / prospective investor’s constitutional objectives and for purposes related to its principal business activity. It is also represented that you have obtained all licenses, approvals and consents required from relevant Thai governmental and regulatory authorities to invest in the interest of the strategy(ies) or product and to remit any amounts in foreign currency for the purpose of making this investment. It is acknowledged that you as the client or prospective investor of the product understands the risks of this investment / transaction and any legal, regulatory, tax, accounting and economic consequences resulting from this investment.
Legal Notice for Institutional Investors in Taiwan
This communication is intended only for the use of Capital Gateway internally and should not be distributed externally. It is for educational purposes only and not an offer to invest. Viewers of this website/document should bear in mind that the value of an investment in a strategy and the income from it can go down as well as up. It may be affected by exchange rate variations and you may not get back the amount invested. Initial charges are likely to have a greater proportionate effect on returns if investments are liquidated in the shorter term. Quoted yields are not guaranteed. It is only directed at persons residing in jurisdictions where the Jupiter Asset Management International S.A. and its shares are authorised for distribution or where no such authorisation is required. We recommend that you obtain professional advice before taking any investment decision. Any data or views given should not be construed as investment advice. Every effort is made to ensure the accuracy of the information but no assurance or warranties are given. It is not an invitation to subscribe in any strategy managed by Jupiter Asset Management International S.A.. If you are unsure of the suitability of an investment please contact your financial advisor. Any data or views given should not be construed as investment advice. Every effort is made to ensure the accuracy of the information but no assurance or warranties are given.
Australia
This document is intended for Investment Professionals in Australia only. It is not for the benefit of Retail Investors.
Market and exchange rate movements can cause the value of an investment to fall as well as rise, and you may get back less than originally invested. Any data or views given should not be construed as investment advice. Every effort is made to ensure the accuracy of the information, but no assurance or warranties are given.
Past performance is no guide to the future. Company examples are for illustrative purposes only and are not a recommendation to buy or sell. Quoted yields are not guaranteed and may change in the future. Awards and ratings should not be taken as a recommendation.
For your security we may record or randomly monitor telephone calls.
Issued in Australia by Jupiter Asset Management Limited (JAM), registered address: The Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ which is authorised and regulated by the Financial Conduct Authority.
No part of this document may be reproduced in any manner without the prior permission of JAM.
Jupiter Asset Management Limited is exempt from the requirement to hold an Australian financial services licence under the Corporations Act 2001 (Cth) in respect of the financial services it provides to wholesale clients in Australia. Jupiter Asset Management Limited is authorised and regulated by the UK Financial Conduct Authority under UK laws, which differ from Australian laws.
This information may only be provided to and our services may only be provided to wholesale clients (as defined in section 761G of the Corporations Act 2001 (Cth)). This document contains general information only, does not contain any personal advice and does not take into account any prospective investors’ objectives, financial situation or needs.
United States of America
This document is for informational purposes only and nothing herein should be viewed as an offer, solicitation or recommendation to buy or sell an interest in the private investment fund. Any offer of an interest in a private investment fund will only be made by means of a confidential private offering memorandum as it may be amended, supplemented or restated from time to time (the “Offering Memorandum”), which would contain material information (including certain risks of investing in a private investment fund) not contained in this document and which would supersede and qualify in its entirety the information set forth herein.
Market and exchange rate movements can cause the value of an investment to fall as well as rise, and you may get back less than originally invested. Past performance is no guide to the future. Company examples are for illustrative purposes only and are not a recommendation to buy or sell. Quoted yields are not a guide or guarantee for the expected level of distributions to be received. The yield may fluctuate significantly during times of extreme market and economic volatility.
The views expressed are at a point of time and are subject to change. This is particularly true during periods of rapidly changing market circumstances. Every effort is made to ensure the accuracy of the information provided but no assurance or warranties are given.
Jupiter Asset Management Limited is an SEC registered investment adviser. Registration with the SEC does not imply any level of skill or training. The interests offered in the fund hereby have not and will not be registered under the Securities Act of 1933 act, as amended (the “1933 Act”) or any other securities laws, and will be offered and sold for investment only to qualifying United States recipients pursuant to the exemption from the registration requirements of the 1933 Act provided by section 4(a)(2) thereof and in compliance with any other applicable securities laws. There will be no public market for the fund interests, and no such market is expected to develop in the future. Interests in the fund will be subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under the 1933 exchange act and applicable state securities laws pursuant to registration or exemption therefrom.