The portfolios are mainly composed of Carmignac Funds. Access to the Funds may be restricted to certain persons or countries. In particular, they may not be offered or sold, directly or indirectly, to or for the account or benefit of a "U.S. person" as defined in the U.S. Regulation S and/or FATCA. The Funds present a risk of capital loss. The risks, current charges and other charges are described in the KIDs (Key Information Documents). The prospectuses, KIDs and annual reports of the Funds are available on the website
www.carmignac.fr and on request from the Management Company. The KIDs must be given to the subscriber prior to subscription.