Skerryvore: Think Local, Act Local - The Power of Partnership in Emerging Markets

THIS VIDEO IS ISSUED AND APPROVED BY SKERRYVORE ASSET MANAGEMENT LTD (“SKERRYVORE” OR “SKERRYVORE ASSET MANAGEMENT OR “FIRM”)

Skerryvore Asset Management Ltd is an investment manager authorised and regulated by the Financial Conduct Authority (“FCA”) in the UK (FRN: 769109) and is registered as an investment adviser with the U.S. Securities and Exchange Commission (“SEC”) (registration of an investment adviser does not imply any level of skill or training). The information on this website has not been approved or verified by the FCA, the SEC or by any US state securities authority.

This video is provided for general information purposes only and should not be considered an offer, investment recommendation or the solicitation for the purchase or sale of any investment products or services. The Firm’s research for this video and associated long view document is based on current public information that the Firm considers reliable, but the Firm does not represent that the research or the document is accurate or complete and it should not be relied on as such. The views expressed are those of the Skerryvore team at the time of the recording.

This video and its associated publication include ‘forward-looking statements’. These forward-looking statements are based on current views, expectations and beliefs as at the date they are expressed. They involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of Skerryvore to be materially different from those expressed or implied by the forward-looking statements. Accordingly, there can be no assurance or guarantee regarding these statements, and you must not place undue reliance on these forward-looking statements. Skerryvore disclaims any responsibility for the accuracy or completeness of any forward-looking statements.

Investing involves certain risks including:

• The value of investments and any income from them may go down as well as up and are not guaranteed. Investors may get back significantly less than the original amount invested.
• Currency risk – the strategies invest in assets which are denominated in other currencies; changes in exchange rates will affect the value of the strategy(ies) and could create losses. Currency control decisions made by governments could affect the value of the strategies’ investment.
• Emerging market risk – emerging markets tend to be more sensitive to economic and political conditions than developed markets. Other factors include greater liquidity risk, restrictions on investment or transfer of assets, failed/delayed settlement and difficulties valuing securities.

Where featured, specific securities or companies or any sectors are intended as an illustration of investment strategy only and should not be construed as investment advice or a recommendation to buy or sell any security or to seek exposure to any particular sector.

This video is intended for professional clients in the UK, and where lawful, for professional/institutional and qualified clients elsewhere. It is not intended for distribution to the general public.

By proceeding, you confirm that you meet the criteria of a professional, institutional or qualified investor and understand that the information presented is for informational purposes only and does not constitute financial advice, an offer, or a solicitation to invest.

If you do not meet the requirements of a qualified investor, please refrain from accessing this content. Skerryvore Asset Management accepts no liability for any reliance placed on the information by individuals who do not qualify.

FOR INVESTORS RESIDING IN THE UNITED KINGDOM OR THE EUROPEAN ECONOMIC AREA

In the United Kingdom this document is only available to professional investors meeting the criteria for Professional Clients set out in COBS3.5 of the Conduct of Business Sourcebook in the Financial Conduct Authority’s Handbook of rules and guidance.

FOR PROSPECTS OR CLIENTS RESIDING IN CANADA

Please be advised that the Firm is not registered in any province in Canada. As at the date of this video recording, the Firm satisfies the requirements set out in section 8.26 of National Instrument 31-103 to reply on the International Adviser Exemption in the provinces of Alberta, British Columbia, Ontario and Quebec.

FOR INVESTORS RESIDING IN AUSTRALIA OR NEW ZEALAND

In Australia this video is only made available to professional investors meeting the criteria for wholesale clients as defined in section 761G of the Corporations Act 2001 (Cth) (Corporations Act). In New Zealand this document and investment in a Strategy is only available to investors meeting one of the criteria to be considered a wholesale investor under clause 3(2) of Schedule 1 of the Financial Markets Conduct Act 2013 (New Zealand) (FMC Act). The receipt of this material by a prospective New Zealand investor does not constitute an offer, or part of an offer, of financial products or securities and this publication is not a product disclosure statement or any other form of offer or disclosure document.

This information is issued and approved by Skerryvore Asset Management Ltd (“Skerryvore”). Skerryvore is exempt from the requirement to hold an Australian financial services licence under the Corporations Act pursuant to ASIC Instrument 25-011, issued under section 926A(2)(a) of the Corporations Act. This exemption enables Skerryvore to provide financial product advice and to deal in financial products in relation to foreign exchange contracts, securities and interests in a managed investment scheme (that is not required to be registered under Chapter 5C of the Corporations Act) in Australia to wholesale clients only. As any offer of financial products Skerryvore may make in New Zealand is limited to wholesale investors, Skerryvore is not required to be licensed or registered under the FMC Act to make any such offer, and any such offer if made will not constitute a regulated offer for the purposes of the FMC Act.

Skerryvore is authorised and regulated by the Financial Conduct Authority (with Firm Reference Number 769109) under UK laws, which differ from Australian and New Zealand laws.