Disclaimer and Risk Disclosure

Historical returns and financial market scenarios are no guarantee of future performance. The price and value of investments mentioned and any income that might accrue could fall or rise or fluctuate. If an investment is denominated in a currency other than your base currency, changes in the rate of exchange may have an adverse effect on value, price or income. You should consult with such advisor(s) as you consider necessary to assist you in making these determinations. Past performance is not an indicator of future performance. Performance can be affected by commissions, fees or other charges as well as exchange rate fluctuations.

This material has been prepared by GT Asset & Portfolio Management Limited ("GTAPM") as general information only. This material is not and does not purport to provide substantive research or analysis and, accordingly, is not investment research or a research recommendation for regulatory purposes. It does not take into account the financial objectives, situation or needs of any person, which are necessary considerations before making any investment decision. The information provided is not intended to provide a sufficient basis on which to make an investment decision and is not a personal recommendation or investment advice. GTAPM makes no representation as to the suitability of the products or services specified in this material for any particular investor. It does not constitute an invitation or an offer to any person to subscribe for or purchase any of the products or services specified in this material or to participate in any other transactions. GT Asset & Portfolio Management Limited, any associate entities, directors, senior officers or employees shall not be held liable for damages or losses that arise from the use of this material.