Aberforth Partners - Risk Warnings |
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Risk Warnings
1 Past performance is not a guide to future performance.
2 The value of investments and the income derived from them can go down as well as up and is not guaranteed; therefore investors may not get back the amount originally invested.
3 Unless the performance of an investment meets or exceeds the rate of inflation, the real value of that investment will reduce.
4 There can be no guarantee that the investment objectives of Aberforth Smaller Companies Trust plc, Aberforth Geared Capital & Income Trust plc or Aberforth UK Small Companies Fund will be achieved.
5 Investments in shares of smaller companies are generally considered to carry a higher degree of risk as the market for their shares is often less liquid than that for shares of larger companies, making shares of smaller companies more difficult to buy and sell.
6 The performance of shares of smaller companies may be more volatile than the shares of larger companies over short time periods; therefore investors should regard such investments as long term.
7 Tax legislation and the levels of relief from taxation can change at any time. If investors are in any doubt as to their tax position, they should consult their professional adviser.
8 The dealing spread of Aberforth UK Small Companies Fund, which represents the difference between the buying and selling prices, will have an impact on the realisable value of any investment made in this fund, particularly in the short term. To mitigate the impact of capital erosion, investors should regard investments in this fund as long term.
9 Investment Trusts may borrow money in order to make further investments. This is known as "gearing". The effect of gearing can enhance returns to shareholders in rising markets but will have the opposite effect on returns in falling markets. Aberforth Geared Capital & Income Trust is considered to be highly geared.
10 The partners and staff of Aberforth Partners LLP and/or the Investment Trust Directors may have positions in Aberforth Smaller Companies Trust plc and/or Aberforth Geared Capital & Income Trust plc or may buy, sell or offer to make a purchase or sale of such securities from time to time.
11 An Investment Trust is a public limited company, the shares of which are quoted on the London Stock Exchange. Investment Trusts are not authorised and regulated by the Financial Services Authority.
Note: Neither Aberforth Partners LLP or Aberforth Unit Trust Managers Limited provide investors with investment advice.