INVESTMENT SERVICES

Offered by Fiduserve Asset Management Ltd

The investment offering of Fiduserve derives from the business of Centaur Financial Services (a Mifid regulated investment advisor and portfolio management firm with 20 years track record), whose senior management team have joined Fiduserve Asset Management Ltd, our AIFM authorised entity. This enables us to create and oversee a range of macroeconomic investment strategies for our Discretionary Portfolio Management Offering, and to complement these with a comprehensive Fund Management offering which builds on the investment strategies applied successfully by Centaur in the past 20, market turbulent years.

Our Funds offering also includes the establishment and licensing of Private Funds for clients (Family offices, HNIs, Private equity Funds and Investment Groups), after the assessment and selection of the most suitable Fund jurisdiction depending on the type and location of the assets, type of investor and marketing rules. Such Private Funds can be fully or partially managed by Fiduserve, with the desired level of involvement of the client’s team of investment professionals. The offering extends to comprehensive Risk Management functions and regulatory compliance and reporting.

Leveraging our network of corporate clients, we offer transaction advisory and M&A support. This includes strategic analysis and recommendations in respect of investment opportunities in various asset classes, and on how to structure a transaction. We undertake mandates to source and present investment opportunities which fall within clients’ investment strategies and return parameters. We also undertake sell-side mandates following a full investment process.

Fiduserve Asset Management Ltd is a fully owned subsidiary of Fiduserve Management Ltd.

Our investment services offering includes:

– Discretionary Portfolio Management
– Fund Establishment, Licensing and Management Services
– Risk Management services
– Corporate valuations services
– Transaction advisory and M&A support services

Fiduserve Asset Management Ltd has been authorized by CYSEC as an Alternative Investment Fund Management Company with authorization no AIFM 20/56/2013

Before investing with Fiduserve the Customer should understand and accept that:

Fiduserve does not and cannot guarantee the initial capital of the Customer’s Portfolio or its value at any time. In particular, the Customer accepts that he could lose some or all of the value of the Customer’s Portfolio if markets for the investments he has allowed move in an adverse fashion.

Past performance of the Customer’s Portfolio or the portfolios of investments of other customers is not a guide to or guarantee of the likely future performance of the Customer’s Portfolio.

No level of performance on the Customer’s Portfolio is, or can be, guaranteed by Fiduserve.

In exercising discretion in relation to the Customer’s Portfolio Fiduserve does not represent or warrant that it will achieve any particular level of return or appreciation for the Customer or avoid depreciations whether to any specified level or at all. In particular, no measure of relative performance (or benchmarking) applies to the Customer’s Portfolio and that Fiduserve does not seek to achieve returns equivalent to any indices, market or investment or that the investment performance of Fiduserve in relation to the Customer’s Portfolio will be similar to that of other customers.

Pillar III Disclosures

According to the CySEC Directive DI144-2014-14 Fiduserve has published its’ Pillar III Disclosures as an Annex in both the audited entity and consolidated financial statements of the year under review.

Derivatives Risk Warning Notice

This notice does not disclose all of the risks and other significant aspects of derivatives products such as futures, options, and contracts for differences. You should not deal in derivatives unless you understand the nature of the contract you are entering into and the extent of your exposure to risk.You should also be satisfied that the contract is suitable for you in the light of your circumstances and financial position. Certain strategies, such as a “spread” position or a “straddle”, may be as risky as a simple “long” or “short” position.

Whilst derivative instruments can be utilised for the management of investment risk, some investments are unsuitable for many investors. Different instruments involve different levels of exposure to risk, and in deciding whether to trade in such instruments you should be aware of the following points.

1. Futures

Transactions in futures involve the obligation to make, or to take, delivery of the underlying asset of the contract at a future date, or in some cases to settle your position with cash. They carry a high degree of risk. The “gearing” or “leverage” often obtainable in futures trading means that a small deposit or down payment can lead to large losses as well as gains. It also means that a relatively small market movement can lead to a proportionately much larger movement in the value of your investment, and this can work against you as well as for you. Futures transactions have a contingent liability, and you should be aware of the implications of this, in particular the margining requirements, which are set out in paragraph (6) below.

2. Options

There are many different types of options with different characteristics subject to different conditions:-

Buying options:

Buying options involves less risk than writing options because, if the price of the underlying asset moves against you, you can simply allow the option to lapse. The maximum loss is limited to the premium you paid to buy the option, plus any commission or other transaction charges. However, if you buy a call option on a futures contract and you later exercise the option, you will acquire the future. This will expose you to the risks described under “futures” and “contingent liability transactions”.

Writing options:

If you write an option, the risk involved is considerably greater than buying options. You may be liable for margin to maintain your position and a loss may be sustained well in excess of any premium received. By writing an option, you accept a legal obligation to purchase or sell the underlying asset if the option is exercised against you, however far the market price has moved away from the exercise price. If you already own the underlying asset which you have contracted to sell (known as “covered call options”) the risk is reduced. In any other circumstance (such as writing “uncovered call options” or writing put options) the risk can be unlimited. Only experienced persons should contemplate writing uncovered options, and then only after securing full details of the applicable conditions and potential risk exposure.

3. Contracts for differences (“CFDs”)

Futures and options contracts can also be referred to as a Contract for Differences. These can be options and futures on the FT-SE 100 index or any other index or individual stock, as well as currency and interest rate swaps. However, unlike other futures and options, these contracts can only be settled in cash. Investing in a contract for differences carries the same risk as investing in a future or an option and you should be aware of these as set out in paragraphs (1) and (2) respectively. Transactions in contracts for differences may also have a contingent liability and you should be aware of the implications of this as set out in the paragraph (6) below.

4. Off exchange transactions

It may not always be apparent whether or not a particular derivative is on or off-exchange. Your broker must make it clear to you if you are entering into an off-exchange derivative transaction.

Whilst some off-exchange markets are highly liquid, transactions in off-exchange or “non transferable” derivatives may involve greater risk than investing in on-exchange derivatives because there is no exchange market on which to close out an open position. It may be impossible to liquidate an existing position, to assess the value of the position arising from an off-exchange transaction or to assess the exposure to risk. Bid and offer prices need not be quoted, and, even where they are, they will be established by dealers in these instruments and consequently it may be difficult to establish what is a fair price.

5. Foreign markets

Different foreign markets will involve different risks. In some cases the risks will be greater than the risks in markets with which you are familiar. On request, your broker must provide an explanation of the relevant risks and protections, (if any), which will operate in any relevant foreign markets, including the extent to which he will accept liability for any default of a foreign broker through whom he deals. The potential for profit or loss from transactions on foreign markets or in foreign denominated contracts will be affected by fluctuations in foreign exchange rates.

6. Contingent liability transactions

Contingent liability transactions which are margined require you to make a series of payments against the purchase price, instead of paying the whole purchase price immediately. If you trade in futures or contracts for differences or write options you may sustain a total loss of the margin you deposit with your broker to establish or maintain a position. If the market moves against you, you may be called upon to pay substantial additional margin at short notice to maintain the position. If you fail to do so within the time required, your position may be liquidated at a loss and you will be liable for any resulting deficit in your account. Your loss may exceed your total investment or value of your Portfolio.

Even if a transaction is not margined, it may still carry an obligation to make further payments in certain circumstances over and above any amount paid when you entered the contract. Contingent liability transactions which are not traded on or under the rules of a recognised or designated investment exchange may expose you to substantially greater risks.

7. Collateral

If you deposit collateral as security with your broker, the way in which it will be treated will vary according to the type of transaction and where it is traded. There could be significant differences in the treatment of your collateral depending on whether you are trading on a recognised or designated investment exchange, with the rules of that exchange (and associated clearing house) applying, or trading off exchange. Deposited collateral may lose its identity as your property once dealings on your behalf are undertaken. Even if your dealings should ultimately prove profitable, you may not get back the same assets which you deposited and may have to accept payment in cash. You should ascertain from your broker how your collateral will be dealt with.

8. Commissions

Before you begin to trade, you should obtain details of all commissions and other charges for which you will be liable. If any charges are not expressed in money terms (but, for example, as a percentage of contract value), you should obtain a clear written explanation, including appropriate examples, to establish what such charges are likely to mean in specific money terms. In the case of futures, when commission is charged as a percentage, it will normally be as a percentage of the total contract value, and not simply as a percentage of your initial payment.

9. Suspensions of trading

Under certain trading conditions it may be difficult or impossible to liquidate a position. This may occur, for example, at times of rapid price movement if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange trading is suspended or restricted. Placing a stop-loss order will not necessarily limit your losses to the intended amounts, because market conditions may make it impossible to execute such an order at the stipulated price.

10. Clearing house protections

On many exchanges, the performance of a transaction by your broker (or the third party with whom he is dealing on your behalf) is “guaranteed” by the exchange or its clearing house. However, this guarantee is unlikely in most circumstances to cover you, the customer, and may not protect you if your broker or another party defaults on its obligations to you.On request, your broker must explain any protection provided to you under the clearing guarantee applicable to any on-exchange derivatives in which you are dealing. There is no clearing house for traditional options, nor normally for off-exchange instruments which are not traded under the rules of a recognised or designated investment exchange.

11. Insolvency

Your broker’s insolvency or default, or that of any other brokers involved with your transaction, may lead to positions being liquidated or closed out without your consent. In certain circumstances, you may not get back the actual assets which you lodged as collateral and you may have to accept any available payment in cash. On request, your broker must provide an explanation of the extent to which he will accept liability for any insolvency of, or default by, other brokers involved with your transactions.

Warrants Risk Warning Notice

This notice does not disclose all of the risks and other significant aspects of warrants. You should not deal in warrants unless you understand the nature of the transaction you are entering into and the extent of your exposure to potential loss. You should also be satisfied that warrants are suitable for you in the light of your circumstances and financial position.

In deciding whether to trade in warrants you should be aware of the following points.

1. Warrants

A warrant is a right to subscribe for shares, debentures, loan stock or government securities, and is exercisable against the original issuer of the securities. Warrants often involve a high degree of gearing, so that a relatively small movement in the price of the underlying security results in a disproportionately large movement in the price of the warrant. The prices of warrants can therefore be volatile. You should not buy a warrant unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges. Some other instruments are also called warrants but are actually options (for example, a right to acquire securities which is exercisable against someone other than the original issuer of the securities, often called a “covered warrant”).

2. Off-Exchange transactions

Transactions in off-exchange warrants may involve greater risk than investing in exchange-traded warrants because there is no exchange market on which to liquidate your position. It may be impossible to liquidate an existing position, to assess the value of the position arising from an off-exchange transaction or to assess the exposure to risk. Bid and offer prices need not be quoted, and, even where they are, they will be established by dealers in these instruments and consequently it may be difficult to establish what is a fair price.

3. Commissions

Before you begin to trade, you should obtain details of all commissions and other charges for which you will be liable.

4. Foreign markets

Different foreign markets will involve different risks. In some cases the risks will be greater than the risks in markets with which you are familiar. On request, your broker must provide an explanation of the relevant risks and protections, (if any), which will operate in any relevant foreign markets, including the extent to which he will accept liability for any default of a foreign broker through whom he deals. The potential for profit or loss from transactions on foreign markets or in foreign denominated contracts will be affected by fluctuations in foreign exchange rates.

Foreign Exchange Transaction and Currency Fluctuation Risk Warning

Fiduserve or its representatives may from time to time effect on your behalf transactions in the foreign exchange markets the effect of which will be to expose your Portfolio to the risk of adverse movements in currency exchange rates.

1. Investments in foreign currencies

From time to time, Fiduserve may instruct your Portfolio to make investments in securities, hold money, or become overdrawn in currencies which are denominated in currencies other than the Base Currency of your Portfolio. As a result, your Portfolio may be exposed to negative effects on its valuation when the value of assets or liabilities in other currencies is translated to the Base Currency.

2. Foreign Exchange speculation

From time to time if permitted by you, Fiduserve may speculate on currency fluctuations for your Portfolio utilizing both spot cash transactions and/or foreign exchange forward contracts not traded on any recognized investment exchange. Such transactions are deemed to be speculative where they do not relate to the management of cash required to purchase investments for your Portfolio or arising from the realisation of such investments and where they substantially exceed in size any likely currency exposure arising out of investment purchases and sales. Such transactions and forward contracts may have the effect of gearing the exposure of your Portfolio to currency fluctuations either positive or negative.

Dealing in Securities Subject To Stabilisation

Fiduserve or its representatives may from time to time recommend to you or effect on your behalf transactions in securities the price of which may have been influenced by bids made or transactions effected for the purpose of stabilising the price of those securities. You should read the explanation below carefully. Its purpose is to enable you to judge whether you wish your funds to be invested at all in such securities and, if you do, whether you wish to authorise Fiduserve generally to effect transactions in such securities on your behalf without further reference to you or whether you wish to be consulted before any particular transaction is effected on your behalf.

Stabilisation is a process whereby the market price of a security is pegged or fixed during the period in which a new issue of securities is sold to the public. Stabilisation may take place in the securities of the new issue or in other securities related to the new issue in such a way that the price of the other securities may affect the price of the new issue or vice versa.

The reason stabilisation is permitted is that when a new issue is brought to market the sudden glut will sometimes force the price lower for a period of time before buyers are found for the securities on offer.

As long as he obeys a strict set of rules, the “stabilising manager”, normally the issuing house chiefly responsible for bringing a new issue to market, is entitled to buy securities in the market that he has previously sold to investors or allotted to institutions who were included in the new issue but who have decided not to continue participating. The effect of this may be to keep the price at a higher level than would otherwise be the case during the period of stabilisation.

The statutory stabilisation rules limit the period in which a stabilising manager may stabilise a new issue, fix the price at which he may stabilise (in the case of shares and warrants but not bonds), and require him to disclose that he may be (but not that he is) stabilising.

The fact that a new issue or a related security is being stabilised does not in itself mean that investors are not interested in the issue, but neither should the existence of transactions in an issue where stabilisation may take place be relied upon as an indication that investors are interested in the new issue or interested in purchasing at the price at which transactions are taking place.

Risk Disclosure Statement – Dealings in Foreign Markets

In order to acquire, dispose of, hold, exercise rights in relation to, or otherwise execute transactions in investments in any country or foreign market on your behalf or on behalf of your Portfolio, it may be necessary for Fiduserve or the Custodian to make use of brokers, intermediate brokers, nominees, banks, exchanges and settlement systems in such countries or foreign markets who may be subject to different legal and regulatory requirements from those with which you may be familiar. When Fiduserve or the Custodian arranges to acquire, dispose of, hold or exercise rights in relation to investments overseas your money and investments may not benefit from protections equivalent to those with which you are familiar. Fiduserve or your Custodian can provide you with further information on this issue.

Risk Disclosure Statement – Short Selling Shares

Some custodians offer their customers the ability to “short sell” securities such as shares in listed companies. This would involve you/your Portfolio borrowing such shares (facilitated by the Custodian) which you do not own and selling them in the relevant market and collecting the appropriate proceeds. If the price of such shares subsequently falls, you will be able to buy an equal number of shares in the market, deliver them to the lender to discharge your original borrowing of shares and retain a profit representing the difference between the price of the original sale less the price of the subsequent purchase. Such speculation involves a theoretically unlimited risk to your Portfolio in the event that the price of the shares you have sold continues to rise. In such as case, the higher cost to purchase the shares you have sold could result in your Portfolio realizing a very substantial loss. Most Custodians will require you to maintain assets in your Portfolio as margin against this risk if you are dealing in short selling of shares.

Where permitted by you, Fiduserve will from time to time short sell shares for your Portfolio. Any losses from such transactions are for your own account and risk and you represents that you understand the risks involved.

Risk Disclosure Statement – Underwriting

Should you agree to participate in underwriting or sub-underwriting (that is agree to subscribe for investments in advance of their being issued) you accept the risk that the market for such investments after issue is not assured and it may not be possible to sell the investment concerned at the subscription price or at all.

Risk Disclosure Statement – Illiquid Investments

Should you permit Fiduserve to purchase on your behalf investments that may be illiquid (that is investments in which there is a limited market or no market at all) you accept the risk that the investment concerned may be difficult to value or sell and you may have to perform any obligations associated with owning it. Please note that in any market and in relation to any investment there can be changes in liquidity which may be sudden. If you do not want us to deal in illiquid investments we will not do so but we may deal in investments and markets which may subsequently become illiquid.

Mutual Funds (Kentavros Capital Growth Fund)

THE ORDINARY SHARES ARE SUITABLE FOR SOPHISTICATED INVESTORS WHO DO NOT REQUIRE IMMEDIATE LIQUIDITY FOR THEIR INVESTMENT, FOR WHOM AN INVESTMENT IN THE FUND DOES NOT CONSTITUTE A COMPLETE INVESTMENT PROGRAMME AND WHO FULLY UNDERSTAND AND ARE WILLING TO ASSUME THE RISKS INVOLVED IN THE INVESTMENT PROGRAMME OF THE FUND.

An investment in the Ordinary Shares involves substantial risk common to all investments in international financial markets. Prospective investors should give careful consideration to the risk factors referred to below in evaluating the merits and suitability of an investment in the Ordinary Shares. The list of risk factors referred to below is not exhaustive. Prospective investors are advised to consult with their professional advisers before making an application for Ordinary Shares.

Any investment in securities entails a risk of loss of capital. The investments of the Fund are subject to normal market fluctuations and the risks inherent in equity securities and similar instruments and there can be no assurances that appreciation will occur.

Ordinary Shares are transferable only under certain limited circumstances and with prior consent of the Fund.

An investment in Ordinary Shares provides limited liquidity since redemptions are permitted only on a monthly basis.

The Fund may utilise various financial management techniques which, among others, include trading in put and call options and other derivatives. These activities could under certain circumstances increase volatility or increase the impact of negative market developments.

Although the Fund plans to seek diversification in the investment of its funds, it should be noted that the Fund’s investment restrictions do not prohibit the concentration of investments in a small number of companies or sectors, and at times the Fund’s assets may be disproportionately concentrated in certain sectors or even individual issuers.

Whether or not the Fund is profitable, it is required to pay fixed fees and expenses including organisation and offering expenses, administrative and operating expenses and advisory fees.

The Ordinary Shares of the Fund are denominated in dollars. Certain of its assets and liabilities will, however, be invested in securities and other investments which are denominated in currencies other than dollars. Accordingly the value of such assets may be affected favourably or unfavourably by fluctuations in currency rates. In addition, prospective investors whose assets and liabilities are predominately in other currencies should take into account the potential risk of loss arising from fluctuations in value between the dollar and such other currencies.

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Restrictions on use of materials

This site is owned and operated by Fiduserve Asset Management Ltd. (referred to as “Fiduserve” “we,” “us,” or “our” herein). No material from the site may be copied, reproduced, republished, uploaded, posted, transmitted or distributed in any way, except that you may download one copy of the materials on any single computer for your non-commercial use only, provided that you keep intact all copyright and other proprietary notices. Modification of the materials or use of the materials for any other purpose is a violation of Fiduserve’s copyright and other proprietary rights. The use of any such material on any other Web site or networked computer environment is prohibited. Except as otherwise indicated on this site and except for the trademarks, service marks and trade names of other companies that are displayed on this site, all trademarks, service marks and trade names are proprietary to Fiduserve. In the event that you download any software from the site, the software, including any files, images incorporated in or generated by the software, and data accompanying the software (collectively, the “Software”) are non-exclusively licensed to you by Fiduserve. Fiduserve does not transfer title to the Software to you. Fiduserve retains full and complete title to the Software, and all intellectual property rights therein. You may not redistribute, sell, decompile, reverse engineer, disassemble, or otherwise reduce the Software to a human-perceivable form.

Disclaimer

The materials in this site are provided “as is” and without warranties of any kind either express or implied. To the fullest extent permissible pursuant to applicable law, Fiduserve disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability and fitness for a particular purpose. Fiduserve does not warrant that the functions contained in the materials will be uninterrupted or error-free, that defects will be corrected, or that this site or the server that makes it available are free of viruses or other harmful components. Fiduserve does not warrant or make any representations regarding the use or the results of the use of the materials in this site in terms of their correctness, accuracy, reliability, or otherwise. You (and not Fiduserve) assume the entire cost of all necessary servicing, repair, or correction. Applicable law may not allow the exclusion of implied warranties, so the above exclusion may not apply to you.

Limitation of liability

Under no circumstances, including, but not limited to, negligence, shall Fiduserve be liable for any special or consequential damages that result from the use of, or the inability to use, the materials in this site, even if Fiduserve or a Fiduserve authorized representative has been advised of the possibility of such damages. In no event shall Fiduserve have any liability to you for damages, losses and causes of action (whether in contract, tort (including, but not limited to, negligence), or otherwise) for accessing this site.

Other

All claims, disputes or disagreements which may arise out of the interpretation, performance or in any way relating to your use of this site and any and all other Fiduserve site(s), shall be submitted exclusively to the jurisdiction of the courts located in the Country of Cyprus, and the City of Nicosia

This privacy policy covers the treatment of personally identifiable information that we Fiduserve Asset Management Ltd collect when you are on our site, and when you use our services. This policy also applies to the treatment of any personally identifiable information that our business partners share with us. This policy does not apply to the practices of companies that we do not own or control, or to people that we do not employ or manage.

Information Collection and Use

We may collect personally identifiable information when you visit or use our pages. We may also receive personally identifiable information from our business partners. We also automatically receive and record information on our server logs from your browser including your IP address, cookie information and the page you requested.

We may use this information for three general purposes:
• To customize the content you see.
• To fulfill your requests for certain services and information.
• To contact you.

Information Sharing and Disclosure

We will not sell or rent your personally identifiable information to anyone. We will send personally identifiable information about you to other companies or people when:
• We have your consent to share the information
• We need to share your information to provide the product or service you have requested;
• We need to send the information to companies who work on behalf of Fiduserve Asset Management Ltd to provide a product or service to you (unless we tell you differently, these companies do not have any right to use the personally identifiable information we provide to them beyond what is necessary to assist us);
• We respond to subpoenas, court orders or legal process;
• We find that your actions on our web sites violate the above terms of service, or any of our usage guidelines for specific products or services.

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Please contact Andreas Persianis for Discretionary Portfolio Management services (apersianis@fiduserve.com), or Andreas Hadjioannou for Fund Management and Valuation Services (andreas@fiduserve.com).