Fleming Family & Partners Capital Management LLP

FF&P Risk Disclosures

Whilst every effort is made to ensure that the information provided to clients is accurate and up to date, some of the information may be rendered inaccurate by changes in applicable laws and regulations. For example, the levels and bases of taxation may change at any time. Tax treatment depends upon the individual circumstances of each client and may be subject to change in the future.

All securities investments risk the loss of capital. No guarantee or representation is made that the funds will achieve their investment objective. The values of investments may go down as well as up.

Past performance should not be used as a guide to future performance.

Changes in the rates of exchange between currencies may cause the value of investments to go up or down in the reporting currency. Among the factors that may influence currency values are trade balances, the levels of short-term interest rates, differences in relative values of similar assets in different currencies, long-term opportunities for investment and capital appreciation and political developments. Values may also be affected by developments relating to controls and restrictions on foreign currency remittance of proceeds of investments in a non-sterling jurisdiction.

From time to time, the fund manager may engage in hedging transactions within certain funds. There can be no assurances that such hedging, if undertaken, will insulate the particular funds from currency fluctuations. Hedging techniques, whether via derivatives or other products or instruments, may give rise to certain costs and additional risks.

Property is an asset class which can be difficult to sell, which means that you may not be able to sell the investment when you want and we may have to delay acting on your instructions to sell. The value of property is generally a matter of a valuer’s opinion rather than fact.

Issued by Fleming Family & Partners Capital Management LLP. Authorised and regulated by the Financial Services Authority.