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The information on the website you are about to enter is intended for Institutional Investors, including regulated financial intermediaries such as banks and securities brokers (and their clients who have signed discretionary asset management agreements), regulated insurance companies, government or public authorities, corporate treasurers and financial advisers.

The information contained on the following website should not be considered as an offer, or solicitation, to deal in any of the investments or funds mentioned herein, by anyone in any jurisdiction in which such offer or solicitation would be unlawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.

The market commentaries represent an assessment of the market environment at a specific point in time and are not intended to be a forecast of future events, or a guarantee of future results. The website is not prepared for any particular investment objectives, financial situation or requirements of any specific investor and does not constitute a representation that any investment strategy is suitable or appropriate to an investors individual circumstances or otherwise constitute a personal recommendation. The information on the website is being provided strictly for informational purposes only and does not constitute an advertisement.

The commentaries should not be regarded by investors as a substitute for independent financial advice or the exercise of their own judgment. Any opinions expressed in the commentaries are subject to change without notice and may differ or be contrary to opinions expressed by other business areas or groups of Robeco as a result of using different assumptions and criteria. Robeco will initiate, update and cease coverage at its sole and absolute discretion. The analyses contained herein are based on numerous assumptions. Different assumptions could result in materially different results. Certain data in the website have been obtained from third parties and is believed to be reliable but Robeco does not guarantee the accuracy of such data.

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Robeco does not warrant the accuracy, adequacy or completeness of the information and materials contained on the website and expressly disclaims liability for errors or omissions in such information and materials. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of the reader, the investor, any person or group of persons acting on any information, opinion or estimate contained in the website. Robeco reserves the right to make changes and corrections to any information on this website at any time, without notice.

Past performance is not a guide to the future performance. Market and exchange rate movements may cause the capital value of investments and the income from them, to go down as well as up and the investor may not get back the amount originally invested. Investments involve risks. Before making any investment decision, you should read the relevant offering documents and in particular the investment policies and the risk factors. You should ensure you fully understand the risks associated with the investment and should also consider your own investment objective and risk tolerance level. Remember, you are responsible for your investment decision. If in doubt, please seek independent financial and professional advice.

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