This disclaimer is made in accordance with Luxembourg laws and regulations
and is without prejudice of specific additional mentions as may be required by local
WEBSITE'S PURPOSE: INFORMATION
This website is exclusively an information tool and therefore does not constitute
an offer or a solicitation of shares or investment services. Its purpose is to present
the main features of BANOR SICAV (the "Fund"), a Luxembourg Investment
Company (Société d'investissement à capital variable)
incorporated for an unlimited duration in Luxembourg on 13 February 2007.
The Fund is organised in accordance with the provisions of the law of 10 August
1915 on commercial companies, as amended, and the law of 17 December 2010 on Undertakings
for Collective Investment, as amended (the "2010 Law"). In particular,
it is subject to the provisions of Part I of the 2010 Law specific to undertakings
for collective investment in transferable securities (UCITS) as defined in the Directive
of the Council of the European Community of 13 July 2009, as amended (directive 2009/65/EC).
The Fund's registered office is located 44, rue de la Vallée, L-2661 Luxembourg,
Grand Duchy of Luxembourg.
The Fund is registered with the Registre de Commerce et des Sociétés
de Luxembourg under number B 125 182.
Information contained herein is provided by Casa4Funds SA
The Fund has appointed Casa4Funds SA (the
"Management Company") as its Management Company to be responsible
on a day-to-day basis, under supervision of the Fund's Board of Directors, for providing
administration, marketing and investment management services in respect of all sub-funds.
The Management Company was incorporated as a "société anonyme"
under the laws of the Grand Duchy of Luxembourg on 5 August 2005 and its articles
of incorporation were published in the Mémorial on 21 December 2005. Its
subscribed share capital is 1,274,720 million Euros and it is registered with the
Registre du Commerce et des Sociétés de Luxembourg under number
B 110.332. The Management Company is approved as management company regulated by
chapter 15 of the 2010 Law.
The Management Company endeavours to keep the information contained herein up to
date and correct. However, it makes no representations or warranties of any kind,
express or implied, about the completeness, accuracy, reliability, suitability or
availability with respect to the website or the information, products, services,
or related graphics contained on the website for any purpose. Any reliance you place
on such information is therefore strictly at your own risk.
Furthermore, every effort is made to keep the website up and running smoothly. However,
the Management Company takes no responsibility, and will not be liable for, the
website being temporarily unavailable due to technical issues beyond its control.
Any investment carried out in the Fund shall be made pursuant to the legal documentation
in force authorised by the Luxembourg Supervisory Authority, the Commission de
Surveillance du Secteur Financier (Prospectus, and Key Investor Information Document as
the case may be) as well as pursuant to the articles of incorporation and the semi-annual
and annual reports of the Fund. All these documents can be obtained free of charge
at the Fund's registered office; they may also be freely downloaded from the present
The shares of the Fund are only authorised for sale and available for subscription
in Luxembourg and Italy.
Any person under restraint, such as American nationals, shall not be granted access
to the information contained herein.
Investors are sole responsible of their compliance with the law and regulations
of their countries of citizenship or residence and they are recommended to take
advice from their legal, financial and tax counsels prior to any decision.
The Net Asset Value per share may fall as well as rise and hence, on redemption
of shares, investors may receive back an amount less than the original amount of
their investment. Past performance is not a reliable indicator of future results.
The performance reported is net of management fees and administration expenses,
but gross of initial sales charges and taxes. Any performance figures given on this
website rely on figures denominated in the currency indicated. Where this currency
is different from the currency in the country in which you are resident, the return
illustrated may increase or decrease as a result of currency fluctuations. The benchmarks
have been chosen with the sole purpose of monitoring the performance of the various
Euro denominated shares, issued for Portfolios whose reference currency is different
from the Euro, are systematically hedged against the exchange risk compared to the
reference currency of the relevant Portfolio; such hedging may, for technical reasons,
not be complete and not cover the entire exchange risk. Moreover, in case of hedging,
the investors will not take advantage of any possible positive evolution of the
The Management Company and the Fund strictly comply with rules purporting to the
fight against money laundering and terrorist financing. To comply with such requirements,
you shall be requested to supply with proper identification documents and information
by carrying out your investment.
PROHIBITION OF «LATE TRADING» AND «MARKET TIMING» PRACTICES
"Late Trading" is to be understood as the acceptance of a subscription or redemption
orders after the cut-off time on the relevant Valuation Day and the execution of
such orders at the price based on the net asset value per share applicable to such
Valuation Day. To deter such practice, the Board of Directors of the Fund takes
the necessary measures to prevent that subscriptions or redemptions be accepted
after the cut-off time in Luxembourg and that the net asset value per share is calculated
after the cut-off time ("forward pricing").
The repeated purchase and sale of shares designed to take advantage of pricing inefficiencies
in the Fund – also known as "Market Timing"- may disrupt portfolio investment
strategies and increase the Fund's expenses and adversely affect the interests of
the Fund's long term Shareholders. To deter such practice, the Board of Directors
of the Fund reserves the right, in case of reasonable doubt and whenever an investment
is suspected to be related to Market Timing, which the Board of Directors of the
Fund shall be free to appreciate, to suspend, revoke or cancel any subscription,
redemption or conversion order placed by investors who have been identified as doing
frequent subscriptions and redemptions in and out of the Fund.
The Board of Directors of the Fund, as safeguard of the fair treatment of all investors,
may take necessary measures to ensure that (i) the exposure of the Fund to Market
Timing activities is adequately assessed on an ongoing basis, and (ii) sufficient
procedures and controls are implemented to minimise the risks of Market Timing in
Personal data or information supplied by the shareholders will be stored and processed
in compliance with the provisions of the Luxembourg law of 2August 2002 on data
protection as amended.
Nevertheless, users of the present website are informed that the Internet network
does not constitute a safe mean of communication and that they are using this network
at their own risk.
In no event will the Management Company or the Fund be liable for any loss or damage
including without limitation, indirect or consequential loss or damage, or any loss
or damage whatsoever arising from loss of data or profits arising out of, or in
connection with, the use of this website.
Furthermore, through this website you may be able to link to other websites which
are not under the control of the Management Company. The Management Company has
no control over the nature, content and availability of those sites. The inclusion
of any links does not necessarily imply a recommendation or endorse the views expressed
The Management Company and/or the Fund hold copyrights on all work appearing on
this website, in particular pictures, texts, iconographic representations and documents
which may be obtained from this website.
The copy and use of all or part of the present website, by any mean whatsoever,
is strictly forbidden without the Management Company's prior written approval.
Pages and/or parts of this website may nevertheless be downloaded or printed for
personal use only subject to the disclosure of copyrights and intellectual property
The present website shall not be reproduced (in part or in whole), transmitted (by
any means, including electronic), modified nor used for public or commercial purposes.
No links to the present website shall be created without the prior written approval
of the Management Company and/or the Fund.