Annual Report & Accounts Disclaimer


This Annual Report & Accounts contains general information about Grosvenor Group Limited and its subsidiaries and subsidiary undertakings from time to time (together "Grosvenor") and is intended for informational purposes only. Investors should determine for themselves whether a particular service or product is suitable for their investment needs and should seek professional advice for their particular situation.  Any reliance placed on this Annual Report & Accounts is done entirely at the risk of the person placing such reliance.  

The information contained in this Annual Report & Accounts is not an offer to sell or a solicitation of an offer to purchase interests in any fund managed by Grosvenor, nor is it intended to provide, and should not be relied on for,  investment, tax, legal or financial advice.  The content of this Annual Report & Accounts is a summary only, is not complete, and does not include all material information about funds managed by Grosvenor, including potential conflicts of interest and risks associated with an investment by Grosvenor. Please refer to offering documents for further information concerning specific products.

To the maximum extent permitted by applicable law and regulation, Grosvenor disclaims all representations, warranties, conditions and guarantees, whether express, implied, statutory or of other kind, nor does it accept any duty to any person, in connection with this Annual Report & Accounts.  Without prejudice to the generality of the foregoing, Grosvenor does not warrant or represent that the information or opinions contained in this Annual Report & Accounts is accurate or complete.  Investors are responsible for reviewing the adequacy, accuracy, reliability, merchantability, non-infringement, and/or completeness of any information or the content available on this website or fitness for any particular purpose with respect to this website or any of its content.  To the maximum extent permitted by applicable law and regulation, Grosvenor shall not be liable for any loss, damage or expense whatsoever, whether direct or indirect, howsoever arising, whether in contract, tort (including negligence), strict liability or otherwise, for direct, indirect, incidental, consequential, punitive or special damages arising out of or in connection with this Annual Report & Accounts, including (without limitation) any course of action taken on the basis of the same.

The estimates, strategies, and views expressed in this Annual Report & Accounts are based upon past or current market conditions and/or data and information provided by an unaffiliated third party (which has not been independently verified) and are subject to change without notice.  An investment with Grosvenor is speculative and may contain significant risks, including the risk of loss of some or all of an investment, and is intended only for sophisticated investors who meet certain eligibility criteria.  Such investments are not deposits or obligations of, or guaranteed or endorsed by, any bank and are not insured or guaranteed by any government or any other agency.

Grosvenor Investment Management Limited is authorised and regulated by the UK Financial Conduct Authority ("FCA").  The funds defined as "Unregulated Collective Investment Schemes" ("UCIS") and the promotion of a UCIS either within the UK or from the UK is severely restricted by statute.  Consequently, this document is only made available to professional clients and eligible counterparties as defined by the FCA and also to persons of a kind to whom the fund may lawfully be promoted by an authorised person by virtue of Section 238(5) of the Financial Services and Markets Act 2000, the Financial Services and Markets Act 2000 (Exemption) Order 2001 and COBS 4.12.1R.  The value of your investment may go down as well as up, and you may not receive upon redemption the full amount of your original investment.  Participation in a fund(s) should only be made by persons with experience of participating in unregulated schemes and any other person who receives this document should not rely upon it.  With respect to U.S. investors, investments in funds managed by Grosvenor are restricted to institutional investors who meet certain eligibility requirements.  Any potential investor should satisfy him or herself that an investment in any Grosvenor product is permissible under the rules and regulations of his or her domicile.  The Annual Report & Accounts are not directed to any person in any jurisdiction where the publication or availability of the Annual Report & Accounts is or would be prohibited. 

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. YOU SHOULD CONSULT WITH YOUR LEGAL, TAX, FINANCIAL, AND OTHER ADVISORS PRIOR TO MAKING AN INVESTMENT WITH GROSVENOR.

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