Investment Risk Disclosure

Capital at risk

The value of a portfolio can fall as well as rise. You may get back less than you allocated, and in adverse conditions you may lose the entire allocation.

Past performance

Past performance does not indicate future results. Historic figures, where shown, are not a projection.

Concentration

Mandates that concentrate in a single asset carry greater drawdown risk than diversified mandates.

Liquidity

Market conditions can affect the speed and price at which positions are adjusted.

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