Regulation

Record Currency Management Limited is Authorised and Regulated by the Financial Services Authority in the UK (registration number: 114097), registered as an Investment Adviser with the Securities and Exchange Commission in the United States (registration number: 110893) and is an Exempt International Advisor with the Ontario Securities Commission in the State of Ontario Canada and registered as exempt with the Australian Securities and Investment Commission.

Record is the investment manager and distributor of the Record Umbrella Fund which is an open-ended umbrella unit trust authorised by the Irish Financial Regulator. Record Currency Management Limited is authorised by the Irish Financial Regulator as a promoter to establish Irish investment funds.

The Record Group has established a Jersey-based management company, Record Currency Management ( Jersey) Limited that is authorised to manage Expert Funds by the Jersey Financial Services Commission (registration number: FSB1989).

This information is not intended for marketing or sales purposes and has been provided for existing investors only. Any sales or marketing may only take place in accordance with the laws of the applicable jurisdiction. In particular, the Record Umbrella Fund is not registered under the Securities Act and may not be offered, sold, or delivered directly or indirectly in the United States (except in accordance with an applicable exemption from the registration requirements of the Securities Act) or to, or for the account or benefit of, any U.S. Person. Applicants will be required to certify that they not U.S. Persons.