We would draw the attention of potential subscribers to the liquidity and volatility risks of investments such as these, invested in units or shares of foreign UCITS which do not offer the same degree of security, liquidity and transparency as French UCITS or UCITS complying with European Directive 85/611/EC.

This product is intended for investors with sufficient experience to be able to assess its merits and risks and who do not require immediate liquid funds from their investment.

The fund management company and the account holder make the detailed composition of the portfolio at the nearest date between the publication date of the latest UCITS report and the end of the financial half-year, together with information documents for the underlying collective investment funds, permanently available to subscribers.