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Website Disclaimer

Important Notices and Terms of Use

General
The information provided on the SKALIS FUNDS website has been compiled by SKALIS Asset Management AG (hereinafter referred to as "SKALIS") with the utmost care. In spite of this fact, SKALIS does not assume any guarantee for the up-to-dateness, accuracy and completeness of the information contained on this website. All information contained on this website is non-binding and without any obligation. SKALIS reserves the right to modify, supplement, or delete portions or the entire content of these web pages without prior notice.

Information / Advertising
This website is only for information and advertising purposes. The provided and displayed stock exchange and business information, quotes, indexes, prices, news and general market data, as well as displayed results are for information purposes and do not represent any investment advice, tax consultancy, offering, recommendation or invitation to make investment decisions or to transact any business with financial instruments, e.g. to purchase or sell investment shares, and do not represent any other recommendation. In particular, this information does not substitute investor and product-related advice that is appropriate for making investment decisions. The provision of this information does not create a customer relationship between SKALIS and the recipient of the information or any obligations or responsibilities whatsoever for SKALIS in relation to the recipient of the information, in particular, SKALIS does not conclude a contract to supply information [Auskunftsvertrag] of any kind whatsoever with the recipient of the information.
Sole and exclusive basis for the purchase of investment fund shares is the respective valid sales prospectus, including the contract terms in conjunction with the respective most recent audited annual report and the semi-annual report, provided a more recent semi-annual report than the most recent annual report is available. You may obtain these documents from the respective management company or the depositary bank, as well as the paying agents. SKALIS assumes no guarantee for the accuracy and completeness of the information stated in these documents.

Notices regarding Third Party Internet Pages (Hyperlinks)
This Internet Website contains links (references) to external pages and as such to third party content. By clicking on such links, the user leaves the SKALIS website. Arrangement and content of these external pages is beyond SKALIS' sphere of control. SKALIS excludes any liability whatsoever for false, misleading or unlawful content on such web pages that can be accessed using links on the SKALIS website. 

Investment Strategies / Investment Objectives / Performance
Please be aware of the fact that a fund's net inventory value may rise but also decline. When investing in investment funds, investors must be willing and capable of accepting that the invested capital may suffer losses. The future performance of investments cannot be derived from the past performance of investments. Investments in foreign currencies may create additional currency losses. Additional costs and fees (e.g. issue premiums) may diminish the investment fund's performance. SKALIS' statements on investment strategies, investment objectives, analysis methods, results of analyses and similar are, in any case, a description of investment concepts SKALIS uses as an investment advisor for investment funds. Such statements are not statements that SKALIS makes in regard to the respective investment funds itself. The described investment funds may not be appropriate for each investor. For this reason, it is recommended that you consult a professional investment consultant and tax advisor prior to making an investment decision. SKALIS assumes no guarantee for the appropriateness and suitability of the described investment fund, as well as for the economic and tax consequences of an investment in the described investment funds and their future performance. SKALIS cannot assure that the SKALIS' investment concepts described on these web pages will be applied to the management of certain investment funds in the future, will not be changed in the future or that certain investment objectives will be achieved.

Restrictions on Sale
Distribution of the information contained on this website and purchase of investment shares stated on this website is not permitted in many countries, unless the management company of the special assets has officially notified the local supervisory authorities and/or has obtained approval from the local supervisory authorities.

User Residence
The user confirms that its residence is in Germany, Luxembourg or Austria by accepting the important notices and terms of use when accessing this website.
Important Notices for Citizens of the United States of America
The information provided on this website and the investment funds of the companies stated on this website are not intended for sale and distribution in the United States of America or for sale and distribution to U.S. persons (as defined in Regulation S of the US Securities Act of 1933, as amended) in the United States of America (this provision applies to persons that are citizens of the United States of America or that have their residence in the United States of America or that are partnerships or corporations established under the laws of the United States of America or a State, Territory or Possession of the United States of America) neither directly nor through sale of securities by the respective investment fund company nor through sale of securities by persons (including banks, brokers or other distributors) acting on behalf of the respective investment fund company in the United States of America. Purchasers of investment fund shares of investment fund companies are made aware of the fact that certain subsequent transfers of such shares to U.S. persons or persons in other jurisdictions may be subject to restrictions. It is the responsibility of the respective purchaser to comply with such restrictions on the transfer of such investment fund shares.

Opinions and Content of Third Parties
Opinions and content of third parties, e.g. media content that is contained in this document are not SKALIS statements, but reflect the opinions and content of third parties. These opinions and content of third parties do not represent SKALIS opinions or content. Rather, SKALIS hereby points out that these third party opinions and content may describe facts and circumstances that are incomplete, abridged, ambiguous or faulty. For this reason, SKALIS is not in a position to assume any guarantee for the accuracy or completeness of this third party information.

Legal Effectiveness of this Disclaimer
This Disclaimer is to be considered as part of the Internet offering which is linked to this web page. Should portions or individual wording of this text be or become non-compliant, in whole or in part, with applicable laws, this does not affect the content and effectiveness of the remainder of this document.

Use and Disclosure of Personal Data
SKALIS only uses provided personal data to respond to inquiries. You have the right to revoke your consent at any time with future effect.
Handling of Conflicts of Interest at SKALIS Asset Management AG
SKALIS depends on the trust its customers, the public and its own employees invest in its integrity, fairness and reliability and the quality of its services. For this reason, we appreciate the trust that you invest in the fact that SKALIS treats sensitive information with due care. This trust materially depends on the conduct of our management and employees. As a SKALIS customer you can always depend on the fact that our employees will provide services according to their best possible knowledge, diligence and care considering the respective customer interests. For this purpose, the company has adopted a code of conduct to further reinforce customer trust and to ensure that statutory and supervisory regulations are complied with at all times. This code of conduct is an integral part of our professional activities. Accordingly, you can depend on the fact that our employees always apply diligence and honesty, act lawfully and professionally, as well as comply with applicable practices and market standards.

Our principles regarding the handling of conflicts of interest are realized in this code of conduct within the scope of the performance of securities and ancillary services. Conflicts of interest may put the professionalism and reputation of our company into question. For this reason, we have taken appropriate precautionary measures to identify such circumstances at an early stage and to consequently be in a position to address such circumstances appropriately.

Below, we inform you of the specific potential conflicts of interest that may arise within our company and we describe how we deal with such facts and circumstances.

The following Conflicts of Interest may arise within SKALIS
Between customers and
a) SKALIS
b) SKALIS employees, including the board of directors
c) External entities and individuals that are affiliated with SKALIS on a contractual basis
d) Other customers

In connection with the following services provided and performed by SKALIS
a) Financial portfolio management
b) Investment advice   

In particular, arising from the personal relationships maintained by SKALIS board of director members or SKALIS employees (as well as affiliated individuals)

  • With issuers of financial instruments
  • With employees of the issuers of  financial instruments (e.g. customers of the issuers of financial instruments)


In addition, conflicts of interest may arise if SKALIS

  • Transacts business with the holding company Baader & Heins AG or Baader Bank AG.

 
Conflicts of interest may also arise if

  • SKALIS or individual SKALIS employees are in possession of information that is not publicly available (insider information)
  • Employees receive performance based remuneration

 
In the case of asset management, the customer has conferred the management and as such the decision to buy or sell financial instruments to the contracted asset manager. As such, SKALIS takes the decisions on purchases or sales within the scope of the investment guidelines agreed with the capital investment companies without obtaining the capital investment company's or the customer's consent. These circumstances may exacerbate an existing conflict of interest. SKALIS covers the risks resulting from such circumstances through suitable organisational measures, in particular by means of an investment selection process that is based on customer interests. Independent of such selection process, SKALIS discloses the scale of any associated payments prior to the conclusion of an agreement to manage a financial portfolio. Within the scope of asset management, another typical conflict of interest may arise if performance based remuneration is agreed. In this case, it cannot be excluded that the asset manager takes disproportionate risks to achieve top performance and as such increased remuneration. In addition to other measures, internal monitoring of investment decisions and a combination with other fixed remuneration components reduces risk in these cases.

The SKALIS board of directors has created a compliance organisation to prevent and deal with such conflicts of interest to the degree possible. The compliance department is entrusted with the management of conflicts of interest on a permanent basis. The employees of the Compliance department are independent. For this reason, the employees of the Compliance department are in a position to perform their duties in an impartial fashion and free from any instructions. The Compliance department notifies our customers of a conflict of interest, in the event the risk of a significant influence on customer interests cannot be excluded with sufficient certainty.  In this context, however, SKALIS is not obligated to disclose a SKALIS material interest or SKALIS employee interests, if the organisational measures taken by SKALIS are sufficient to prevent the risk of negative effects on customer interests. Our Compliance measures include, among others, the following preventive measures for the protection and safeguarding of customer interests:
 
a) Company employees receive trainings on a routine basis. Company employees are obliged to promptly notify the Compliance department of any facts, circumstances, insider information, as well as exceptional business transactions that may bear the risk of creating a conflict of interest. Insider transactions and any manipulation of quotes, prices or rates are strictly forbidden.

b) It is generally strictly forbidden for all employees to pass on sensitive information from one confidentiality area to another confidentiality area of the company, within the group or to any third party. The compliance department must be notified of any exceptions. This procedure ensures targeted controlling and monitoring of insider information and the compliance department is aware of the information the involved individuals have.

c) Employees are obliged to disclose all of their personal transactions with securities.

d) Employees are obliged to notify the compliance department of any payments, as well as the offering and acceptance of any gifts.

e) Employees are not permitted to participate in so-called "Friends and Family-Programs".

f) The internal auditing department, the group compliance department and an external certified public accountant review and audit the compliance department on a routine basis.

g) The compliance department keeps the board of directors and the supervisory board informed on all matters regarding the compliance with mandatory regulations and the occurrence of extraordinary facts or circumstances at least once a year.

h) Control of Self-Dealing Transactions

In the event conflicts of interest are not preventable in exceptional individual cases through the sharing of roles and responsibilities or the compliance organisation as described above, customers are notified of such conflicts of interest. Transactions for managed special funds take precedence over SKALIS self-dealing transactions or transactions of employees in any case.

Should you have further questions on the topic of conflict of interest, please contact our compliance department at the following E-Mail address: livic@skalisfunds.com

 

Disclaimer

Handling of Conflicts of Interest

 
 
 
 
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