Investment Management Services CC (Registration no 1985/14522/23) is an authorised Category 1 financial services provider in terms of the Financial Advisory and Intermediary Services Act No. 37 of 2002 ('FAIS Act') with FSP number 3456. The information contained herein, should not be construed as advice as defined in the FAIS Act, neither does it constitute a solicitation, invitation or investment recommendation, Investors should take cogrisance of the fact that there are risks involved when buying, selling or investing in any financial product Given that value of investments will fluctuate over time and that past returns may not be indicative of future returns, an investor should seek independent professional financa, legal and tax advice relevant to their individual circumstances before making any investment decision. The validity and accuracy of any illustrations, forecasts of hypothetical data are not guaranteed anci are only provided for illustrative purposes. Investors should also take cognisance of the fact that Hedge Funds are collective investment schemes to which the prescribed provisions of the Collective investment Schermes Control Act (No. 45 of 2002) apply.