INTERESTS IN GLAXIS GLOBAL PARTNERS I, LP (THE "FUND" OR “GLAXIS”), WHICH IS SPONSORED BY GLAXIS CAPITAL HOLDINGS, LLC (THE “GENERAL PARTNER”) AND GLAXIS CAPITAL MANAGEMENT, LLC (THE “INVESTMENT MANAGER”) HAVE NOT BEEN, AND WILL NOT BE, REGISTERED OR QUALIFIED FOR SALE UNDER THE SECURITIES ACT OF 1933, AS AMENDED, THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED, OR ANY STATE'S SECURITIES LAWS (AND THE INTERESTS ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF SUCH LAWS AND MAY NOT BE TRANSFERRED, ASSIGNED OR RESOLD EXCEPT AS PERMITTED UNDER SUCH LAWS AND IN ACCORDANCE WITH ANY FUND’S GOVERNING DOCUMENTS). ACCORDINGLY, THIS CONFIDENTIAL SNAP SHOT, COMMENTARY OR PRESENTATION ("PRESENTATION") AND THE FUND’S CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM (THE “MEMORANDUM”), LIMITED PARTNERSHIP AGREEMENT, AND SUBSCRIPTION AGREEMENT (COLLECTIVELY, THE “OFFERING DOCUMENTS”) HAVE NOT BEEN FILED WITH (OR REVIEWED, APPROVED OR DISAPPROVED BY) THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE “SEC”), ANY STATE SECURITIES COMMISSION, OR ANY OTHER LOCAL OR FOREIGN REGULATORY AUTHORITY, AND NEITHER THE SEC NOR ANY STATE, LOCAL, OR FOREIGN SECURITIES ADMINISTRATOR HAS PASSED UPON OR ENDORSED THE MERITS OF AN INVESTMENT IN THE FUND OR THE ACCURACY OR THE ADEQUACY OF THE INFORMATION CONTAINED IN THIS CONFIDENTIAL PRESENTATION AND THE OFFERING DOCUMENTS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
THIS PRESENTATION IS CONFIDENTIAL AND IS NOT TO BE SHOWN OR GIVEN TO ANY PERSON OTHER THAN THE PERSON WHO IS AN INTENDED RECIPIENT AND IS NOT TO BE FORWARDED, COPIED, TRANSMITTED, DISTRIBUTED, OR OTHERWISE REPRODUCED IN ANY MANNER WHATSOEVER. FAILURE TO COMPLY WITH THIS DIRECTIVE COULD RESULT IN A VIOLATION OF THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS PRESENTATION IS NOT INTENDED FOR DISTRIBUTION TO, OR USE BY, ANY PERSON OR ENTITY IN ANY JURISDICTION OR COUNTRY WHERE SUCH DISTRIBUTION OR USE IS CONTRARY TO LOCAL LAW OR REGULATION. ALL RECIPIENTS AGREE THEY WILL KEEP CONFIDENTIAL ALL INFORMATION CONTAINED HEREIN NOT ALREADY IN THE PUBLIC DOMAIN AND WILL USE THIS PRESENTATION FOR THE SOLE PURPOSE OF EVALUATING A POSSIBLE INVESTMENT IN THE COMPANY. ACCEPTANCE OF THIS PRESENTATION BY PROSPECTIVE INVESTORS CONSTITUTES AN AGREEMENT TO BE BOUND BY THE FOREGOING TERMS. IF THIS PRESENTATION HAS BEEN RECEIVED IN ERROR OR BY ANY PERSON OTHER THAN AN INTENDED RECIPIENT OR FROM ANY SENDER OTHER THAN THE FUND, OR ITS AGENTS, THEN THERE IS A PRESUMPTION THAT THIS PRESENTATION HAS BEEN IMPROPERLY REPRODUCED AND DISTRIBUTED, IN WHICH CASE THE FUND DISCLAIMS ANY RESPONSIBILITY FOR ITS CONTENT AND USE AND ANY SUCH UNINTENDED RECIPIENT SHOULD IMMEDIATELY NOTIFY THE FUND (BY CALLING 941-556-5333) AND DELETE IT FROM THEIR COMPUTER OR OTHER ELECTRONIC DEVICE.
FORWARD LOOKING STATEMENTS: ANY INFORMATION, DATA, STATEMENTS, OPINIONS, OR PROJECTIONS MADE IN THIS PRESENTATION MAY CONTAIN CERTAIN FORWARD LOOKING STATEMENTS, PROJECTIONS AND INFORMATION RELATING TO THE VIEW OF THE FUND (OR ITS AFFILIATES) WITH RESPECT TO FUTURE PLANS, EVENTS, OBJECTIVES, AND EXPECTED PERFORMANCE OF THE FUND (OR ITS UNDERLYING ASSETS). SUCH FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY THE USE OF TERMINOLOGY INCLUDING, BUT NOT LIMITED TO, “MAY,” “WILL,” “SEEK,” “SHOULD,” “EXPECT,” “ANTICIPATE,” “TARGET,” “PROJECT,” “ESTIMATE,” “INTEND,” “CONTINUE” OR “BELIEVE” OR THE NEGATIVES THEREOF OR OTHER VARIATIONS THEREON OR COMPARABLE TERMINOLOGY. ANY SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF THE FUND AND INVESTMENT MANAGER (OR ANY AFFILIATE THEREOF) AS WELL AS ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO, THE FUND. WHILE THE FUND BELIEVES SUCH STATEMENTS AND ASSUMPTIONS TO BE REASONABLE, THEY ARE NEVERTHELESS SUBJECT TO A WIDE RANGE OF RISKS AND UNCERTAINTIES. AMONG OTHER THINGS, THE FUND'S PERFORMANCE MAY BE VOLATILE, THE POSSIBLE INEFFECTIVENESS OF THE FUND’S STRATEGY, LEVERAGE OR OTHER SPECULATIVE PRACTICES MAY BE UTILIZED (WHICH COULD INCREASE THE RISK OF INVESTMENT LOSS), AND THE FUND WILL HAVE FEES AND EXPENSES (ALL OF WHICH MAY BE HIGHER THAN THAT OF INTERESTS IN REGISTERED INVESTMENT COMPANIES) THAT WILL REDUCE RETURNS. SHOULD ONE OR MORE OF THESE RISKS OR UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING ASSUMPTIONS PROVE INCORRECT, ACTUAL EVENTS OR RESULTS MAY DIFFER OR VARY MATERIALLY FROM THOSE EXPRESSED, DESCRIBED OR IMPLIED IN THIS PRESENTATION (I.E. IN ANY PROJECTIONS) AND BY ANY SUCH FORWARD LOOKING STATEMENTS. THERE CAN BE NO ASSURANCE THAT SUCH FORWARD LOOKING STATEMENTS AND ANY PROJECTIONS HEREIN WILL BE REALIZED. FURTHERMORE, THE FUND WILL NOT NECESSARILY UTILIZE OR DO ANY OR ALL OF WHAT IS SAID IN THIS PRESENTATION IN ALL CASES WHEN IMPLEMENTING ITS STRATEGY AND MAY USE ANY OTHER MEANS OR METHODS OR STRATEGIES WITHOUT NOTICE TO INVESTORS. ACCORDINGLY, ANY DESCRIPTIONS OF THE POLICIES, METHODS, MEANS, PROCESSES, AND/OR STRATEGIES OF THE FUND (OR ITS AFFILIATES HEREIN) ARE BASED ON GENERAL PRACTICE AND, WITHOUT NOTICE TO INVESTORS, THE FUND MAY: MAKE EXCEPTIONS IN SPECIFIC CASES; CHANGE SUCH PRACTICES AT ANY TIME; AND USE ANY OTHER MEANS OR METHODS OR STRATEGIES.
"PAST PERFORMANCE OF ANY KIND IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS AND FUTURE ACCURACY AND PROFITABLE RESULTS CANNOT BE GUARANTEED. INCEPTION DATE: FEBRUARY 14, 2005. GLAXIS RETURNS ARE SHOWN ON A NET BASIS FOR NEW ISSUE ELIGIBLE INVESTORS. THE NET RETURNS INCLUDE ANY MANAGEMENT FEE AND/OR INCENTIVE ALLOCATION WAIVERS, INCLUDING FOR AFFILIATES OF THE GENERAL PARTNER AND INVESTMENT MANAGER; ABSENT SUCH WAIVERS, THE NET RETURNS WOULD HAVE BEEN LOWER. BLENDED INDEX INCLUDES 75% MSCI WORLD INDEX (EQUITY) AND 25% BARCLAYS TOTAL RETURN U.S. BOND MARKET INDEX. MSCI WORLD INDEX AND RETURNS INCLUDE DIVIDENDS REINVESTED INTO THE INDEX. BENCHMARKS AND INDICES MAY BE OF LIMITED USE AND ANY PERFORMANCE COMPARISONS TO THE PERFORMANCE OF ANY BENCHMARK OR INDEX IN THIS PRESENTATION MAY NOT BE A MEANINGFUL COMPARISON. ALL RESULTS PORTRAYED FOR GLAXIS ARE ESTIMATED, UNAUDITED, SUBJECT TO ADJUSTMENT, AND NOT INTENDED TO COMPLY WITH AIMR-PPS™ OR GIPS GUIDELINES. PLEASE SEE THE “NOTES” FOLLOWING THIS PRESENTATION FOR IMPORTANT ADDITIONAL DISCLAIMERS AND OTHER LEGAL INFORMATION.
PRIOR TO JUNE 30, 2008, THE FUND WAS NAMED PMC CAPITAL BALANCED FUND I, LP AND THE INVESTMENT MANAGER WAS NAMED PMC CAPITAL MANAGEMENT, LLC. THE INVESTMENT MANAGER UNDERWENT A CHANGE IN EQUITY OWNERSHIP AS OF SUCH DATE BUT DID NOT MATERIALLY CHANGE DAY TO DAY MANAGEMENT OR INVESTMENT STYLE.
ADDITIONAL PERFORMANCE DISCLAIMERS: NO REPRESENTATION IS BEING MADE THAT THE FUND OR ANY SECURITIES, COMMODITIES, STOCKS, PORTFOLIO, INDICES, FINANCIAL INSTRUMENT, OR INVESTMENT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN OR DESCRIBED IN THIS PRESENTATION. PERFORMANCE FIGURES ARE PRESENTED NET OF FEES AND HAVE BEEN CALCULATED AFTER THE DEDUCTION OF ALL TRANSACTION COSTS AND COMMISSIONS. UNLESS OTHERWISE SPECIFIED, PERFORMANCE FIGURES ARE PRE-TAX AVERAGES OF INDIVIDUAL YEAR’S RESULTS. ALL PERFORMANCE ASSUMES THE REINVESTMENT OF DIVIDENDS AND CAPITAL GAINS. THE U.S. DOLLAR IS THE CURRENCY USED TO EXPRESS PERFORMANCE. INCEPTION PERFORMANCE FIGURES FOR GLAXIS GLOBAL PARTNERS I, L.P. ARE SHOWN AS OF FEBRUARY 14, 2005. INDEX RETURNS ARE CALCULATED AS OF FEBRUARY 1, 2005. GLAXIS DID NOT BENEFIT FROM COMPARISONS FROM DIFFERENT INCEPTION DATES RELATIVE TO BENCHMARKS. ALL PERFORMANCE IS NOT NECESSARILY BASED ON THE SAME TYPES OF GAINS. THE AMOUNTS MANAGED FOR ANY FUND MAY DIVERGE FROM THE AMOUNTS UNDER MANAGEMENT THAT FORMED THE BASIS FOR ANY HISTORICAL PERFORMANCE. INVESTMENT RETURN AND PRINCIPAL WILL FLUCTUATE WITH MARKET CONDITIONS, AND YOU MAY HAVE A GAIN OR LOSS ON YOUR INVESTMENTS. ACTUAL PERFORMANCE WILL VARY BASED ON MANY FACTORS, INCLUDING, BUT NOT LIMITED TO, TIMING OF CAPITAL CONTRIBUTIONS AND WITHDRAWALS, SIDE POCKET INVESTMENTS (IF ANY), INVESTMENT STRATEGIES, TAXES AND WITHHOLDING, SPECIAL ALLOCATIONS OF NEW ISSUES, MARKET CONDITIONS, DIFFERENT FEE ARRANGEMENTS, AND APPLICABLE FEES AND EXPENSES RELATED TO ACTUAL TRADING. PRIOR TO JUNE 30, 2008, THE FUND CHARGED LOWER MANAGEMENT FEES THAN CURRENT LEVELS, AT WHICH PERFORMANCE WOULD BE HIGHER. EFFECTIVE APRIL 1, 2011, A HIGH WATER MARK WAS INSTITUTED. PERFORMANCE PRIOR TO THIS DATE MAY HAVE DIFFERED FROM PERFORMANCE SHOWN ABOVE HAD A HIGH WATER MARK BEEN IN EXISTENCE. EFFECTIVE JULY 1, 2017, THE FUND INSTITUTED A 1.2% MANAGEMENT FEE FOR ALL PARTNERS, AFTER WHICH PERFORMANCE WOULD BE HIGHER. THE NET RETURNS INCLUDE ANY MANAGEMENT FEE AND/OR INCENTIVE ALLOCATION WAIVERS, INCLUDING FOR AFFILIATES OF THE GENERAL PARTNER AND INVESTMENT MANAGER; ABSENT SUCH WAIVERS, THE NET RETURNS WOULD HAVE BEEN LOWER. ALL RESULTS PORTRAYED FOR GLAXIS ARE ESTIMATED, UNAUDITED, SUBJECT TO ADJUSTMENT, AND NOT INTENDED TO COMPLY WITH AIMR-PPS™ OR GIPS GUIDELINES. PAST PERFORMANCE OF ANY KIND IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS AND FUTURE ACCURACY AND PROFITABLE RESULTS CANNOT BE GUARANTEED.
DISCLAIMER INFORMATION INCLUDED: ALTHOUGH CAREFULLY VERIFIED, DATA IS NOT GUARANTEED AS TO ACCURACY OR COMPLETENESS AND THE STATEMENTS, OPINIONS, AND/OR DATA EXPRESSED IN THIS PRESENTATION ARE SUBJECT TO CHANGE WITHOUT NOTICE, INCLUDING BASED ON MARKET AND OTHER CONDITIONS. IN ALL CASES, PROSPECTIVE INVESTORS SHOULD MAKE THEIR OWN INQUIRIES AND CONDUCT THEIR OWN INVESTIGATION AND ANALYSIS OF THE FUND AND THE INFORMATION CONTAINED IN THIS PRESENTATION INCLUDING THE MERITS AND RISKS INVOLVED AND THE LEGALITY OF TAX CONSEQUENCES OF SUCH AN INVESTMENT, AND CONSULT THEIR OWN ADVISORS AS TO THE FUND AND THIS OFFEREING AND AS TO LEGAL, TAX, INVSTMENT AND OTHER RELATED MATTERS CONCERNING AN INVESTMENT IN THE FUND. IN FURNISHING THIS PRESENTAITON, THE FUND RESEVES THE RIGHT TO SUPPLEMENT, AMEND OR REPLACE THE PRESENTATION AT ANY TIME, BUT HAS NO OBLIGATION TO PROVIDE THE RECIPIENT WITH ANY SUPPLEMENTAL, AMENDED, REPLACEMENT OR ADDITIONAL INFORMATION. ANY QUOTATIONS OF INDIVIDUALS OTHER THAN THE AUTHORS OR PROVIDERS OF THIS PRESENTATION ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND THEIR ACCURACY AND VERACITY ARE NOT GUARANTEED. NOTHING HEREIN IS INVESTMENT, LEGAL, TAX, OR OTHER ADVICE AND INVESTORS SHOULD CONSULT THEIR OWN EXPERTS. AS A RESULT OF ALL OF THE FOREGOING, INTER ALIA, NEITHER THE FUND NOR ITS PRINCIPALS OR AFFILIATES CAN BE HELD RESPONSIBLE FOR INVESTMENTS IN THE FUND MADE BY THE RECIPIENTS OR VIEWERS OF THIS PRESENTATION BASED ON THE STATEMENTS, PROJECTIONS, RESEARCH, OR ANY OTHER INFORMATION OF ANY OTHER KIND INCLUDED IN THIS PRESENTATION. CERTAIN LAWS AND REGULATIONS PROVIDE LIABILITY THAT CANNOT BE DISCLAIMED; NOTHING HEREIN SHOULD BE CONSIDERED A WAIVER OF SUCH LIABILITY.
TIMELINESS OF INFORMATION: THIS PRESENTATION IS BASED ON INFORMATION AVAILABLE AS OF THE TIME IT WAS WRITTEN, PROVIDED OR COMMUNICATED. STATEMENTS AND INFORMATION IN THIS PRESENTATION ARE MADE AS OF THE DATE NOTED HEREIN, UNLESS STATED OTHERWISE, AND NOTHING CONTAINED HEREIN SHOULD BE CONSTRUED TO IMPLY THAT THE INFORMATION AND DISCLOSURES HEREIN ARE CORRECT AS OF ANY SUBSEQUENT DATE AND THE FUND DISCLAIMS ANY DUTY TO UPDATE THIS PRESENTATION (INCLUDING TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESENTATION TO REFLECT EVENTS OR CIRCUMSTANCES OCCURING AFTER THE DATE OF THE INITIAL DISTRIBUTION OF THIS PRESENTATION OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS) AND ANY CONTENT, RESEARCH OR INFORMATION CONTAINED THEREIN. ACCORDINGLY, NEITHER THE FUND NOR ITS PRINCIPALS OR AFFILIATES MAKE ANY REPRESENTATION AS TO THE TIMELINESS OF ANY INFORMATION IN THIS PRESENTATION.
COMPARISONS TO BENCHMARKS AND INDICES: BENCHMARKS AND INDICES MAY BE OF LIMITED USE AND ANY PERFORMANCE COMPARISONS TO THE PERFORMANCE OF ANY BENCHMARK OR INDEX IN THIS PRESENTATION MAY NOT BE A MEANINGFUL C OMPARISON AND ACCORDINGLY ARE QUALIFIED AS FOLLOWS: (i) THE VOLATILITY OF SUCH BENCHMARK OR INDEX MAY BE MATERIALLY DIFFERENT FROM THAT OF THE APPLICABLE INVESTMENT, (II) SUCH BENCHMARK OR INDEX MAY EMPLOY DIFFERENT INVESTMENT GUIDELINES AND/OR CRITERIA THAN THE APPLICABLE INVESTMENT AND, THEREFORE, THE PERFORMANCE (I.E. ANY PERFORMANCE NOTED IN THIS PRESENTATION) OR HOLDINGS OF THE FUND MAY DIFFER MATERIALLY (I.E. IN TERMS OF LEVELS OF DIVERSIFICATION, TYPES OF SECURITIES OR ASSETS REPRESENTED AND OTHER SIGNIFICANT FACTORS) FROM THE PERFORMANCE OR HOLDINGS OF THE SECURITIES THAT COMPRISE SUCH BENCHMARK OR INDEX; AND (III) THE PERFORMANCE OF SUCH BENCHMARK OR INDEX MAY NOT NECESSARILY HAVE BEEN SELECTED TO REPRESENT AN APPROPRIATE BENCHMARK OR INDEX TO COMPARE TO THE PERFORMANCE OF THE FUND (I.E. ANY PERFORMANCE NOTED IN THE PRESENTATION), BUT RATHER, IS DISCLOSED TO EITHER: (1) ALLOW FOR COMPARISON OF THE APPLICABLE PERFORMANCE (OR THE PERFORMANCE OF THE ASSETS HELD BY THE FUND) TO THAT OF A FAMILIAR INVESTMENT STYLE OR WELL-KNOWN BENCHMARK OR INDEX; OR (2) TO CONTRAST WITH MATERIALLY DIFFERENT INVESTMENT STYLES. A SUMMARY OF THE INVESTMENT GUIDELINES FOR ANY SUCH BENCHMARK OR INDEX IS AVAILABLE UPON REQUEST. NO REPRESENTATION IS MADE AS TO THE RISK PROFILE OF ANY BENCHMARK OR INDEX RELATIVE TO THE RISK PROFILE OF THE FUND. SUCH BENCHMARKS OR INDICES ARE NOT SUBJECT TO FEES AND MAY NOT BE AVAILABLE FOR DIRECT INVESTMENT.
CERTAIN RISK FACTORS. AN INVESTMENT IN THE FUND IS SPECULATIVE AND INVOLVES A SIGNIFICANT DEGREE OF RISK. RISKS INCLUDE, BUT ARE NOT LIMITED TO, THE FACT THAT THE FUND HAS OR MAY HAVE: VOLATILE PERFORMANCE; LEVERAGE USE; LIMITED LIQUIDITY WITH NO SECONDARY MARKET EXPECTED AND RESTRICTIONS ON TRANSFERRING INTERESTS; HIGH FEES AND EXPENSES; REGULATORY AND OTHER RISKS OF THE FUND’S BUSINESS (INCLUDING, BUT NOT LIMITED TO, THE FACT THAT THE FUND IS NOT REGISTERED UNDER, OR GENERALLY REQUIRED TO COMPLY WITH, THE INVESTMENT COMPANY ACT OF 1940, SECURITIES ACT OF 1933, AND SECURITIES EXCHANGE ACT OF 1934 AND, ACCORDINGLY, IS NOT REQUIRED TO PROVIDE PERIODIC PRICING OR VALUATION INFORMATION), A COMPLEX TAX STRUCTURE AND DELAYS IN DISTRIBUTING IMPORTANT TAX INFORMATION, AND A DEPENDENCE ON THE INVESTMENT MANAGER, WHICH WILL HAVE EXCLUSIVE AUTHORITY TO MANAGE THE FUND’S OPERATIONS AND ASSETS. PROSPECTIVE INVESTORS SHOULD CAREFULLY CONSIDER ALL RISKS DESCRIBED IN THE FULL OFFERING DOCUMENTS IN DETERMINING WHETHER AN INVESTMENT IN THE FUND IS SUITABLE. THE FUND MAY NOT BE SUITABLE FOR CERTAIN INVESTORS. THERE CAN BE NO ASSURANCE THAT THE INVESTMENT OBJECTIVES OR STRATEGIES DESCRIBED HEREIN WILL BE ACHIEVED. NOTHING HEREIN IS INTENDED TO IMPLY THAT THE FUND’S BUSINESS OR INVESTMENT METHODOLOGY MAY BE CONSIDERED “CONSERVATIVE”, “SAFE”, “RISK FREE”, OR “RISK AVERSE”. ECONOMIC, MARKET AND OTHER CONDITIONS COULD ALSO CAUSE THE FUND TO ALTER ITS INVESTMENT OBJECTIVES, GUIDELINES AND RESTRICTIONS. INVESTMENT LOSSES MAY OCCUR. YOU SHOULD BE AWARE THAT YOU COULD LOSE ALL, OR A SUBSTANTIAL AMOUNT, OF YOUR INVESTMENT IN THE FUND. ACCORDINGLY, PROSPECTIVE INVESTORS SHOULD HAVE THE FINANCIAL ABILITY AND WILLINGNESS TO ACCEPT SUCH RISKS AND THE LACK OF LIQUIDITY THAT IS CHARACTERISTIC OF INVESTMENTS SUCH AS THE INTERESTS OF THE FUND. THERE WILL BE NO PUBLIC MARKET FOR THE INTERESTS (NOR IS ONE EXPECTED TO DEVELOP) AND, SUBJECT TO CERTAIN LIMITED EXCEPTIONS, THEY WILL NOT BE TRANSFERABLE.
BROKER-DEALER & OFFERING DISCLAIMER: NEITHER THE FUND NOR ANY AFFILIATE THEREOF IS REGISTERED AS A SECURITIES BROKER-DEALER WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION OR WITH ANY STATE SECURITIES REGULATORY AUTHORITY OR WITH ANY FOREIGN COUNTRY. THE INFORMATION CONTAINED IN THIS PRESENTATION IS NEITHER AN OFFER TO SELL, NOR A SOLICITATION OF AN OFFER TO BUY, ANY SECURITY, PRODUCT OR SERVICE, INCLUDING INTERESTS IN THE FUND. THE INFORMATION IN THIS PRESENTATION IS IN SUMMARY FORM FOR CONVENIENCE OF PRESENTATION; IT IS NOT COMPLETE AND SHOULD NOT BE RELIED UPON AS SUCH. AN OFFER TO INVEST IN THE FUND CAN ONLY BE MADE BY THE FUND’S OFFERING DOCUMENTS (ALL OF WHICH WILL CONTAIN ADDITIONAL INFORMATION ABOUT THE FUND), ONLY TO INDIVIDUALS WHO MEET THE INVESTOR SUITABILITY REQUIREMENTS OF THE FUND, AND ONLY IN JURISDICTIONS IN WHICH SUCH AN OFFER IS LAWFUL (AS DISTRIBUTION MAY BE RESTRICTED IN CERTAIN JURISDICTIONS). THE TERMS AND PROVISIONS WITH RESPECT TO THE FUND IN ITS FINAL FORM AND FINAL OFFERING DOCUMENTS MAY DIFFER MATERIALLY FROM THE INFORMATION SET FORTH HEREIN. ACCORDINGLY, THIS PRESENTATION MUST BE READ IN CONNECTION WITH THE FULL OFFERING DOCUMENTS IN ORDER TO UNDERSTAND FULLY ALL OF THE IMPLICATIONS AND RISKS OF THE FUND. IN THE CASE OF ANY INCONSISTENCY BETWEEN THE DESCRIPTIONS OR TERMS IN THIS PRESENTATION AND THE FULL OFFERING DOCUMENTS, THE FULL OFFERING DOCUMENTS SHALL CONTROL. CAPITALIZED TERMS NOT OTHERWISE DEFINED HEREIN SHALL HAVE THE SAME MEANING ASCRIBED TO THEM IN THE LIMITED PARTNERSHIP AGREEMENT OF THE FUND. THERE CAN BE NO ASSURANCE THAT THE OBJECTIVES OR INFORMATION STATED IN THIS PRESENTATION WILL BE ACHIEVED. THIS PRESENTATION SHOULD NOT BE CONSTRUED BY ANYONE AS THE FUND’S (OR ANY AFFILIATES’ THEREOF) SOLICITATION OR OFFER TO EFFECT OR ATTEMPT TO EFFECT TRANSACTIONS IN SECURITIES (OR AN OFFER THEREOF.
INVESTMENT ADVICE DISCLAIMER: THIS PRESENTATION SHOULD NOT BE CONSTRUED BY ANYONE AS THE RENDERING OF PERSONALIZED INVESTMENT ADVICE (OR AN OFFER THEREOF) FOR COMPENSATION. THIS PRESENTATION, AND ANY INFORMATION AND RESEARCH CONTAINED THEREIN, DOES NOT REPRESENT A RECOMMENDATION OF INVESTMENT ADVICE TO BUY OR SELL STOCKS OR ANY FINANCIAL INSTRUMENT NOR IS IT INTENDED AS AN ENDORSEMENT OF ANY SECURITY OR INVESTMENT. THIS PRESENTATION IS FOR INFORMATIONAL PURPOSES ONLY AND REPRESENTS THE WRITER’S OR PROVIDER'S OWN INVESTMENT OPINIONS, AND SHOULD NOT BE CONSTRUED AS PERSONALIZED INVESTMENT ADVICE. THE INVESTMENT MANAGER CANNOT ASSESS, VERIFY, OR GUARANTEE THE SUITABILITY OF ANY PARTICULAR INVESTMENT TO ANY PERSONAL SITUATION AND THE READER OF THIS PRESENTATION BEARS COMPLETE RESPONSIBILITY FOR ITS OWN INVESTMENT RESEARCH AND SHOULD SEEK THE ADVICE OF A QUALIFIED INVESTMENT AND/OR TAX PROFESSIONAL PRIOR TO MAKING ANY INVESTMENT DECISIONS. THE INVESTMENT MANAGER MAY ONLY TRANSACT BUSINESS OR RENDER PERSONALIZED ADVICE, AND OFFERS OF SERVICE CAN ONLY BE MADE, IN THOSE STATES OR INTERNATIONAL JURISDICTIONS WHERE THE INVESTMENT MANAGER IS REGISTERED OR WHERE AN EXEMPTION OR EXCLUSION FROM REGISTRATION IS AVAILABLE. NOTHING HEREIN IS AN OFFER OF ANY SERVICE THAT IS NOT LEGAL FOR OFFER INTO ANY PARTICULAR JURISDICTION WITH THE INVESTMENT MANAGER’S CURRENT LICENSURE (IF ANY).
NO WARRANTY: WHILE THE INFORMATION PROVIDED HEREIN IS BELIEVED TO BE ACCURATE AND RELIABLE, NEITHER THE FUND NOR ITS AFFILIATES MAKE ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, REASONABLENESS, OR COMPLETENESS OF THE INFORMATION CONTAINED IN THIS PRESENTATION (INCLUDING, BUT NOT LIMITED TO, ANY ANALYSIS, DATA, RECOMMENDATIONS, OR INFORMATION OBTAINED FROM THIRD PARTIES), AND NOTHING HEREIN IS OR SHALL BE RELIED UPON AS A PROMISE OR REPRESENTATION OR WARRANTY WHETHER AS TO THE PAST OR TO THE FUTURE. THE RECIPIENT SHOULD NOT RELY ON THE COMPLETENESS OR ACCURACY OF ANY ANALYSIS, DATA, OR RECOMMENDATIONS PROVIDED HEREIN. ALL SUCH INFORMATION AND MATERIALS ARE PROVIDED "AS IS", WITHOUT ANY WARRANTY OF ANY KIND. THE FUND (AND ANY AFFILIATE THEREOF) HEREBY FURTHER DISCLAIMS ALL WARRANTIES AND CONDITIONS WITH REGARD TO SUCH INFORMATION AND MATERIALS, INCLUDING ALL IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE TITLE, NON-INFRINGEMENT AND AVAILABILITY.
LIMITATION OF LIABILITY: IN NO EVENT SHALL THE FUND, ITS AFFILIATES, OR THEIR OFFICERS, DIRECTORS, PRINCIPALS, AGENTS AND EMPLOYEES BE LIABLE FOR ANY CLAIMS, LIABILITIES, LOSSES, COSTS OR DAMAGES (INCLUDING DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL DAMAGES (INCLUDING BUT NOT LIMITED TO, LOST PROFITS OR TRADING LOSSES), OR DAMAGES OF ANY KIND WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS PRESENTATION (INCLUDING WITHOUT LIMITATION, THE CONTENT, INFORMATION, MATERIALS OR RESEARCH INCLUDED THEREIN) WHETHER BASED ON THEORIES ARISING IN CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE. SUCH LIMITATIONS APPLY EVEN IF HYPERION, ITS AFFILIATES, OR ANY OF THEIR OFFICERS, DIRECTORS, PRINCIPALS, AGENTS OR EMPLOYEES HAVE BEEN ADVISED OF THE POSSIBILITY OF DAMAGES.
