An investment in the Xerys Funds presents the investor with a set of risks, there can be no assurance that the Xerys Funds will achieve their profitability objectives and that the amounts invested will be recovered. Investors should therefore consider the following key risks before investing in the Xerys Funds:

• Risk of capital loss: the financial instruments selected by the management company will experience the developments and uncertainties of the market. The Xerys Funds do not have the benefit of any guarantee or protection, so the capital initially invested may or may not be fully returned.

• Risk due to lack of liquidity of the securities: the Xerys Funds are intended to invest in companies not listed on a regulated market.

• Because the Xerys Funds’ investment universe does not have liquidity equivalent to listed markets, they may have difficulty disposing of these investments within the time and at the price levels desired.

• Discretionary management risk: The selection of companies by the Xerys Funds’ management team, namely the assessment of the quality of companies according to its criteria, remains subject to the risks inherent in private equity. There is a risk that the management team may not select the best performers, which may result in a decline in the value of the Funds. 

Prior to investing in the Xerys Funds, the investor must assess the risks detailed in the Xerys Fund documentation.