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TOBAM Bitcoin enhanced strategy

While Bitcoin is very volatile it carries, along with adverse scenarios, a compelling investment thesis.

TOBAM is a recognised pioneer in crypto-investing. It has been conducting organised research on Bitcoin since 2016 and launched the first open ended fund in the world on Bitcoin in 2017.

Specific Fund Risks:

Bitcoin Risk Bitcoin risk is the specific risk related to Bitcoin, which can undergo sharp declines. The net asset value (NAV) of the Fund can therefore fall rapidly and significantly.

Liquidity Risk Liquidity risk is the risk arising from the lack of marketability of Bitcoin, which cannot be bought or sold quickly enough to avoid or minimize a loss.

Currency Risk Currency risk is the risk of depreciation of the currencies in which the Fund invests relative to the portfolio’s reference currency. In the event of foreign currency depreciation, investors are therefore exposed to a decrease in the value of their shares.

Leverage Risk Leverage may expose the Fund to a risk of loss greater than the amount invested.

Trading Risk Trading risk is the risk of variation in Bitcoin when it is traded on platforms.

Concentration Risk Contractual funds are not subject to the diversification rules of general funds. Consequently, certain investments may represent a large portion of the portfolio.

Counterparty Risk The Fund may suffer a loss in the event of default by a counterparty with which certain transactions have been carried out, leading to a decrease in the Fund’s net asset value.

Legal and Tax Risks In the event of reclassification of the Fund for legal, regulatory, or tax reasons, or any evolution of the applicable law, the Fund/shareholders will not be compensated for any loss.

Cyber and Other Risks Bitcoin and other assets are held in virtual wallets, on online platforms, and other places: these involve multiple types of cyber, fraud, and other operational risks. These risks are among the risks borne by the shareholders. They can lead to a loss of Bitcoin, other assets, or the total value of the Fund.

DISCLAIMER : Under the Markets in Financial Instruments Directive (MiFID), we may treat you as an elective professional client if, after our assessment of your expertise, experience, and knowledge of you, we are reasonably assured that, in light of the nature of the transactions or services envisaged, you are capable of making your own investment decisions and understanding the risks involved. This is the “qualitative test”. In making our assessment we may rely on information we already possess about you and/or request additional information from you and/or call you to discuss your investment experience. WARNING: Professional vs Retail Categorisation: As a Professional Client, you are granted fewer protections than if you were categorised as a Retail Client. In particular: 1. you are likely to be provided with less information with regard to us, our services and any investments (for example on costs, commissions, fees and charges); 2. communications, including financial promotions made by us with professional clients are not subject to all of the requirements imposed by MiFID on communications with Retail clients. 3. where we assess the appropriateness of a product or service, we can assume that you have sufficient knowledge and experience to understand the risks involved; 4. if we are required to assess the suitability of a personal recommendation made to you, we can assume that you have sufficient experience and knowledge to understand the risks involved, and can sometimes assume that you are able financially to bear any investment risks consistent with your investment objectives; 5. when fulfilling our best execution requirements we are not required to prioritise the overall costs of the transaction as being the most important factor in achieving best execution for you; 6. we do not need to inform you of material difficulties relevant to the proper carrying out of your order(s) promptly; 7. should we provide you with periodic statements, we are not required to provide them as frequently as for Retail Clients; and 8. you are likely to have fewer rights to compensation of loss in the event of our bankruptcy under any scheme under local law for the payment of compensation. Client Declaration and Warranties: 1. You have carried out transactions and warranties. You need to comply with at least 2 out of the 3 following conditions : 1 – you have carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous 4 quarters. 2. The size of your financial instrument portfolio, defined as including cash deposits AND financial instruments, exceeds EUR 500,000. 3. You work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transaction or services envisaged. Please consult our data protection policy (Chapter 16) on our website.