Risk disclosure

Past performance does not guarantee future results, and the value of investments may fall or rise, leading to a significant loss of assets. Profits are not guaranteed and there is a risk that the full amount invested may not be recovered. Investments in units of a mutual fund, exchange-traded fund or through an individual investment account are not guaranteed by a guarantee fund or in any other way. Investors should note that future results may be subject to taxation, depending on the personal circumstances of each investor and subject to change in future periods.

Shares in exchange-traded funds purchased on the secondary market are not usually redeemed on the primary market. Investors trading shares of an exchange-traded fund on the secondary market need to turn to investment intermediaries, where brokerage fees may be charged. When purchasing shares on the secondary market, investors may pay more than the current net asset value (NAV) per share, and when selling on the secondary market, they may receive less than the NAV per share.

The complete set of documents for each of the exchange-traded funds (including prospectus, key investor information, rules, portfolio structure, NAV, iNAV, etc.), as well as information on the primary market of the funds, accessible to investors qualified under the prospectus, are published on the website www.expat.bg here in Bulgarian and English and are available at the office of the management company (Sofia, 96A Georgi S. Rakovski Street) every working day from 9:00 a.m. to 6:00 p.m. The indicative net asset value of each of the funds (iNAV) is published at www.boerse-frankfurt.de.