The information in this document is given for information purposes only and does not qualify as investment or tax advice. No liability is assumed for the accuracy and completeness of the information. Opinions and assessments contained in this document may change and reflect the point of view of GAM in the current economic and tax environment. This document qualifies as marketing material. Investments should only be made after a thorough reading of the current prospectus and/or the fund regulations, the Key Investor Information Document “KIID”, the articles of association, and the current annual and semi-annual reports (the “legal documents”), as well as after consulting an independent finance and tax specialist. The value of the units and the return they generate can go down as well as up. They both are affected by market volatility and by fluctuations in exchange rates. GAM does not assume any liability for possible losses or tax consequences. The performance of past values and returns is no indicator of their current or future development. The performance of values and returns does not include the fees, costs and taxes which may be charged when buying, selling and/or switching units. The taxation of a given fund, sub-fund or share category and its shareholders is subject to the fiscal laws, regulation and practices at the fund's domicile, in any jurisdiction where the fund makes investments and of the jurisdictions where investors are resident or otherwise subject to taxation. Investors should be aware that the relevant fiscal laws, as well as fiscal regulation and practices or their interpretation may change (even retroactively), which might have negative consequences on investors and/ or their investment in the fund. The information contained in this document does not take into account any personal tax circumstances of any investor. It cannot be guaranteed that an envisaged tax status and/ or tax reporting stated in this document will be approved by the competent tax authorities generally or in individual cases, nor can GAM assume any liability for the accuracy or timeliness of any tax reporting stated in this document. Any information on a tax status and/ or tax reporting related to a fund, sub-fund or share category does not necessarily imply that the fund, sub-fund or share category is registered for distribution in any country. GAM is not a member of the Julius Baer Group. EU-harmonized funds qualifying as Part I funds of the Luxembourg law (Undertakings for Collective Investment in Transferable Securities, UCITS) are, as a general rule, registered for public offering in Luxembourg. Due to the different registration proceedings, no guarantee can be given that each fund, sub-fund or share category is or will be registered in every jurisdiction and at the same time. Namely the funds of funds are registered exclusively in some of the countries. You find an up-to-date registration list, on www.jbfundnet.com . As far as UCITS are registered for public offering in other countries, please refer to the country-specific information indicated below. Non-harmonised funds („non-UCITS“), such as funds under Swiss law, specialised investment funds („SIF“) as well as Part II funds under Luxembourg law, may not be eligible for sale in all jurisdictions or to certain categories of investors. Please note that in any jurisdiction where a fund, sub-fund or share category is not registered for public offering, they may, subject to the applicable local regulation, only be sold in the course of private placement or institutional investments. Particularly, the funds are not registered and, therefore, may not be offered for sale or be sold in the United States of America and their dependencies.
The legal documents can be obtained in German, free of charge, from the following addresses:
Funds according to Swiss law: Fund Management Company is GAM Investment Management (Switzerland) Ltd., Hardstrasse 201, P.O. Box, CH-8037 Zurich, custodian bank is Bank Julius Bär & Co. AG, Bahnhofstrasse 36, Postfach, CH-8010 Zurich or RBC Investor Services Bank S.A., Esch-sur-Alzette, Zurich Branch, Badenerstrasse 567, CH-8048 Zurich or State Street Bank International GmbH, München, Zurich branch, Beethovenstrasse 19, CH-8002 Zurich. Funds domiciled in Switzerland are admitted for distribution and offering exclusively in Switzerland. Representative in Switzerland for funds according to Luxembourg law: GAM Investment Management (Switzerland) Ltd, Hardstrasse 201, Postfach, CH-8037 Zurich. Paying Agent: Bank Julius Baer & Co. AG, Bahnhofstrasse 36, Postfach, CH-8010 Zurich.
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