Nordic Fund Management

Access to this Website and the use of information on it is subject to these Terms and Conditions of Use. You should carefully read these Terms and Conditions of Use. By proceeding further, you will be deemed to have accepted them.

1. Definitions

In these Terms and Conditions of Use, the following terms shall have the meanings indicated:

“Nordic” means Nordic Fund Management (Ireland) Limited;

“Privacy Statement” means our statement of practice as regards the privacy and security of your information when accessing and/or using this Website and any of the features herein;

“Terms and Conditions of Use” means the terms and conditions of use of this Website herein contained;

“We” and “our” and “us” means Nordic Fund Management (Ireland) Limited;

“Website” means this Website; and

“You” and “investors” and “potential investors” means any and all persons accessing or using this Website and/or availing of any information and/or services available on or via this Website.

2. Disclaimer regarding accuracy of information

While the information contained in this Website has been prepared with reasonable care, Nordic Fund Management (Ireland) Limited (“Nordic”) accepts no responsibility or liability for any errors, omissions or misstatements however caused.

3. Investment/risk warning and independent advice

You should not rely on any information contained on this Website in relation to a specific issue or decision and potential investors are advised to seek independent advice as to the suitability of any of the investments referred to in this Website in respect to your investment needs. The information within this Website has been prepared without taking account of your objectives, financial situation or needs.

Investors should be aware that past performance is not indicative of future performance. Returns can be volatile, reflecting rises and falls in the value of underlying investments. Investors should note that because investments in securities can be volatile and that their value may decline as well as appreciate, there can be no assurance that a sub-fund will be able to attain its objective. The price of units as well as the income therefrom may go down as well as up to reflect changes in the net asset value of a sub-fund. An investment in a sub-fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors. An investment in a sub-fund will carry substantial and above average risk and should only be made by those persons who could sustain a loss on their investment.

Investment in a fund carries substantial and above average risk and is suitable only for investors who are in a position to lose their entire investment. The nature of a fund’s investments involves certain risks and a fund may utilise investment techniques such as leveraging and short selling which may carry additional risks. Potential investors should carefully consider, among others, the following factors:

Political risk; regulatory risk; taxation; potential concentration of investments; counterparty risk; foreign exchange/exchange control risks; settlement risk; currency exposure/unlisted securities and derivative risks; market risk; short selling; derivatives; custody risk; premium risk; valuation risk; performance fee; illiquidity; forward exchange contract risks; inadequate market liquidity and leverage.

4. Governing law

Information on this Website is provided in accordance with and subject to the laws of the Republic of Ireland. The laws of the Republic of Ireland govern the conduct and operation of this Website.

5. Jurisdiction

The Courts of the Republic of Ireland have exclusive jurisdiction over all claims or disputes arising in relation to, out of, or in connection with these Terms and Conditions of Use, the information contained on this Website, and any use made of that information. Any such claims or disputes shall be resolved in accordance with the laws of the Republic of Ireland.

6. Investment Manager’s projected estimates

Any prospective price/earnings ratios, dividend yields or forecasts referred to in this Website constitute estimates which have been calculated by the relevant investment manager based entirely on that investment manager’s processes and research.

7. Risk of usage

Usage and linking to this Website is at the user’s own risk. Nordic will not be liable for any loss or damage from any cause (including negligence) to a user’s system or website, or to people linking to Nordic from a user’s website, caused by or in connection with the use of or a link to this Website. Any such loss or damage is at the responsibility of the user. Nordic advises users to take their own precautions in relation to protecting their system or website from viruses or malfunction.

8. Prohibited Use of this Website & fund’s prospectus

The information and contents of this Website is not intended to be provided to and should not be used in any jurisdiction in which access to or use of such information and content is prohibited. This Website is not directed at you if the information and contents herein are prohibited by any law of any jurisdiction from making such information available to you and is not intended for any use which would be contrary to local law or regulation. You should only proceed into this Website if you are satisfied that the country in which you are based imposes no prohibitions or restrictions on the distribution of the information or content on this Website.

The fact that shares in a particular company may have been mentioned in a fund’s prospectus or elsewhere on this Website should not be interpreted as a recommendation to buy, sell or hold that stock. The units referred to in a fund’s prospectus have not been registered under the Securities Act and are not being offered, sold, or delivered directly or indirectly in the United States (except in accordance with an applicable exemption from the registration requirements of the Securities Act) or to, or for the account or benefit of, any U.S. Person.

Applicants will be required to certify that they are not U.S. Persons.

9. Intellectual Property

Use of this information or reproduction of it in hard copy form is allowed for personal use only. The material may be viewed on-line by means of a HTML web browser and may be reproduced in hard copy only for a user’s personal reference. No part of this information may be otherwise reproduced, adapted, distributed or transmitted in any form by any process or incorporated in any way in any other document or material. Except to the extent otherwise permitted by applicable intellectual property legislation, the material may not otherwise be reproduced or displayed in public and may not be distributed or transmitted electronically to any other person or incorporated by any means into another document or material, including other websites without the express written permission of Nordic. Without limiting the generality of the foregoing, Nordic does not permit reproductions of its material, trademarks or logos in other websites in conjunction with advertising without the express written permission of Nordic.

No third party is permitted to create a link from another website to this Website without the prior written consent of Nordic.

10. Website is not an offer or a solicitation

The information contained in this Website does not constitute an offer or solicitation of a financial instrument or service of any kind. Please note that each product is subject to specific individual terms and conditions which must be read carefully and understood prior to signing.

11. Amendments

This Website and the Terms and Conditions of Use are subject to amendment without notice from time to time.

12. Security

Nordic cannot guarantee the privacy or confidentiality of information relating to you that passes over the internet. In accessing this Website and in availing of any service or information available on or via this Website, you are deemed by these Terms and Conditions of Use to accept that electronic media may be subject to interference by third parties and may not remain confidential. In all circumstances your use of this Website is solely at your own risk.

13. Disclaimer of liability

Nordic does not accept any liability for any loss or damage of any nature, including but not limited to loss of profits, goodwill, or any other type of financial or other pecuniary or direct or special indirect or consequential loss howsoever arising whether in negligence or for breach of contract or other duty as a result of the use of this Website and/or reliance on information contained in this Website.

14. General

In the event that any provision in these Terms and Conditions of Use is held to be unenforceable or invalid, such provision shall be severed and the remaining provisions shall be unenforceable to the fullest extent permitted by the laws of the Republic of Ireland.

“INFORMATION TO BE GIVEN BY SUPPLIERS BEFORE ENTERING INTO

DISTANCE CONTRACT FOR THE SUPPLY OF A FINANCIAL SERVICE

TO A CONSUMER”

The following is the information that a supplier must give before entering into a distance contract for the supply of a financial service to a consumer:

(a) the identity and the main business of the supplier, the geographical address at which the business of the supplier is established and any other geographical address that may be relevant to the consumer’s relationship with the supplier;

(b) if the consumer resides in another Member State and the supplier has a representative in that State:

(i) the identity of that representative, and

(ii) the geographical address relevant to the consumer’s relations with that representative;

(i) the person’s identity and the capacity in which the person is acting with respect to the consumer, and

(ii) the person’s physical address so far as it is relevant for the consumer’s relations with that person, and

(iii) if the person has an electronic mailing address, that address;

(d) if the supplier is registered as a company or as a business in a public register―

(i) particulars of the register in which the supplier is registered and the supplier’s registration number (if any), or

(ii) if there is no such number, an equivalent means of identifying the supplier in that register;

(e) if the supplier’s business is subject to an authorisation scheme, the particulars of the relevant supervisory authority;

(f) if the supplier is a member of a profession regulated by law, particulars specifying or identifying―

(i) any professional body or similar institution of which the supplier is a member, and

(ii) the professional designation of the supplier and the Member State where the designation has been conferred, and

(iii) a reference to the applicable rules governing the profession in that Member State and to where those rules can be accessed;

(g) if the supplier is registered for value-added tax, the registration number assigned to the supplier in accordance with section 9 of the Value-Added Tax Act 1972 (No. 22 of 1972);

(h) a description of the main characteristics of the financial service to be supplied by the supplier;

(i) the total price to be paid by the consumer to the supplier for the financial service, including all related fees, charges and expenses and all taxes paid through the supplier or, if an exact price cannot be specified, the basis for calculating the price so as to enable the consumer to verify it;

(j) whenever relevant, a notice indicating that―

(i) the financial service is related to instruments involving special risks related to their specific features or the operations to be executed or whose price depends on fluctuations in the financial markets outside the supplier’s control, and

(ii) historical performances are no indicators for future performances;

(k) notice of the possibility that other taxes or costs may exist that are neither paid by the supplier nor imposed by the supplier;

(l) any limitation of the period for which information given by the supplier is valid;

(m) the arrangements for payment and performance that will apply under the contract;

(n) if an additional charge is or is to be imposed on the consumer for using a particular means of distance communication in connection with the contract, the amount of the charge;

(o) whether or not there is or will be a right to cancel the contract in accordance with these Regulations, and if there is such a right―

(i) the period during which it can be exercised, and

(ii) the conditions under which the right can be exercised (including information about any charge that the consumer may be required to pay in accordance with Regulation 15), and

(iii) the consequences of not exercising that right;

(p) the minimum duration of the contract in the case of a financial service that is to be performed on a continuing or recurring basis;

(q) any rights the parties may have to terminate the contract early or unilaterally because of the terms of the contract and any penalty that may be imposed under the contract for early termination;

(r) practical instructions for exercising the right to cancel the contract (which instructions must include the address to which notification of cancellation must be sent);

(s) the Member State the laws of which the supplier adopts as a basis for establishing relations with the consumer before the contract is entered into;

(t) any term of the contract dealing with the question of what law is to apply to the contract or which court has jurisdiction with respect to the determination of disputes arising under the contract;

(u) the language or languages in which the contractual terms and conditions and the prior information required by this Schedule are given;

(v) the language or languages in which the supplier, with the agreement of the consumer, undertakes to communicate with the consumer while the contract remains in force;

(w) whether or not there is an out-of-court complaint and redress process for the consumer and, if there is, the procedure for gaining access to it;

(x) the existence of guarantee funds or other compensation arrangements, except to the extent that they are required by the European Communities (Deposit Guarantee Schemes) Regulations

1995 (S.I. No. 168 of 1995) or the Investor Compensation Act 1998 (No. 37 of 1998).

	Website Terms and Conditions

Nordic Fund Management (Ireland) Limited Nordic Absolute Return Fund Nordic Fund for Emerging Market Debt Board of Directors Owners Contact Privacy Statement Website Terms and Conditions Company Particulars and Registration	Access to this Website and the use of information on it is subject to these Terms and Conditions of Use. You should carefully read these Terms and Conditions of Use. By proceeding further, you will be deemed to have accepted them. 1. Definitions In these Terms and Conditions of Use, the following terms shall have the meanings indicated: “Nordic” means Nordic Fund Management (Ireland) Limited; “Privacy Statement” means our statement of practice as regards the privacy and security of your information when accessing and/or using this Website and any of the features herein; “Terms and Conditions of Use” means the terms and conditions of use of this Website herein contained; “We” and “our” and “us” means Nordic Fund Management (Ireland) Limited; “Website” means this Website; and “You” and “investors” and “potential investors” means any and all persons accessing or using this Website and/or availing of any information and/or services available on or via this Website. 2. Disclaimer regarding accuracy of information While the information contained in this Website has been prepared with reasonable care, Nordic Fund Management (Ireland) Limited (“Nordic”) accepts no responsibility or liability for any errors, omissions or misstatements however caused. 3. Investment/risk warning and independent advice You should not rely on any information contained on this Website in relation to a specific issue or decision and potential investors are advised to seek independent advice as to the suitability of any of the investments referred to in this Website in respect to your investment needs. The information within this Website has been prepared without taking account of your objectives, financial situation or needs. Investors should be aware that past performance is not indicative of future performance. Returns can be volatile, reflecting rises and falls in the value of underlying investments. Investors should note that because investments in securities can be volatile and that their value may decline as well as appreciate, there can be no assurance that a sub-fund will be able to attain its objective. The price of units as well as the income therefrom may go down as well as up to reflect changes in the net asset value of a sub-fund. An investment in a sub-fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors. An investment in a sub-fund will carry substantial and above average risk and should only be made by those persons who could sustain a loss on their investment. Investment in a fund carries substantial and above average risk and is suitable only for investors who are in a position to lose their entire investment. The nature of a fund’s investments involves certain risks and a fund may utilise investment techniques such as leveraging and short selling which may carry additional risks. Potential investors should carefully consider, among others, the following factors: Political risk; regulatory risk; taxation; potential concentration of investments; counterparty risk; foreign exchange/exchange control risks; settlement risk; currency exposure/unlisted securities and derivative risks; market risk; short selling; derivatives; custody risk; premium risk; valuation risk; performance fee; illiquidity; forward exchange contract risks; inadequate market liquidity and leverage. 4. Governing law Information on this Website is provided in accordance with and subject to the laws of the Republic of Ireland. The laws of the Republic of Ireland govern the conduct and operation of this Website. 5. Jurisdiction The Courts of the Republic of Ireland have exclusive jurisdiction over all claims or disputes arising in relation to, out of, or in connection with these Terms and Conditions of Use, the information contained on this Website, and any use made of that information. Any such claims or disputes shall be resolved in accordance with the laws of the Republic of Ireland. 6. Investment Manager’s projected estimates Any prospective price/earnings ratios, dividend yields or forecasts referred to in this Website constitute estimates which have been calculated by the relevant investment manager based entirely on that investment manager’s processes and research. 7. Risk of usage Usage and linking to this Website is at the user’s own risk. Nordic will not be liable for any loss or damage from any cause (including negligence) to a user’s system or website, or to people linking to Nordic from a user’s website, caused by or in connection with the use of or a link to this Website. Any such loss or damage is at the responsibility of the user. Nordic advises users to take their own precautions in relation to protecting their system or website from viruses or malfunction. 8. Prohibited Use of this Website & fund’s prospectus The information and contents of this Website is not intended to be provided to and should not be used in any jurisdiction in which access to or use of such information and content is prohibited. This Website is not directed at you if the information and contents herein are prohibited by any law of any jurisdiction from making such information available to you and is not intended for any use which would be contrary to local law or regulation. You should only proceed into this Website if you are satisfied that the country in which you are based imposes no prohibitions or restrictions on the distribution of the information or content on this Website. The fact that shares in a particular company may have been mentioned in a fund’s prospectus or elsewhere on this Website should not be interpreted as a recommendation to buy, sell or hold that stock. The units referred to in a fund’s prospectus have not been registered under the Securities Act and are not being offered, sold, or delivered directly or indirectly in the United States (except in accordance with an applicable exemption from the registration requirements of the Securities Act) or to, or for the account or benefit of, any U.S. Person. Applicants will be required to certify that they are not U.S. Persons. 9. Intellectual Property Use of this information or reproduction of it in hard copy form is allowed for personal use only. The material may be viewed on-line by means of a HTML web browser and may be reproduced in hard copy only for a user’s personal reference. No part of this information may be otherwise reproduced, adapted, distributed or transmitted in any form by any process or incorporated in any way in any other document or material. Except to the extent otherwise permitted by applicable intellectual property legislation, the material may not otherwise be reproduced or displayed in public and may not be distributed or transmitted electronically to any other person or incorporated by any means into another document or material, including other websites without the express written permission of Nordic. Without limiting the generality of the foregoing, Nordic does not permit reproductions of its material, trademarks or logos in other websites in conjunction with advertising without the express written permission of Nordic. No third party is permitted to create a link from another website to this Website without the prior written consent of Nordic. 10. Website is not an offer or a solicitation The information contained in this Website does not constitute an offer or solicitation of a financial instrument or service of any kind. Please note that each product is subject to specific individual terms and conditions which must be read carefully and understood prior to signing. 11. Amendments This Website and the Terms and Conditions of Use are subject to amendment without notice from time to time. 12. Security Nordic cannot guarantee the privacy or confidentiality of information relating to you that passes over the internet. In accessing this Website and in availing of any service or information available on or via this Website, you are deemed by these Terms and Conditions of Use to accept that electronic media may be subject to interference by third parties and may not remain confidential. In all circumstances your use of this Website is solely at your own risk. 13. Disclaimer of liability Nordic does not accept any liability for any loss or damage of any nature, including but not limited to loss of profits, goodwill, or any other type of financial or other pecuniary or direct or special indirect or consequential loss howsoever arising whether in negligence or for breach of contract or other duty as a result of the use of this Website and/or reliance on information contained in this Website. 14. General In the event that any provision in these Terms and Conditions of Use is held to be unenforceable or invalid, such provision shall be severed and the remaining provisions shall be unenforceable to the fullest extent permitted by the laws of the Republic of Ireland. “INFORMATION TO BE GIVEN BY SUPPLIERS BEFORE ENTERING INTO DISTANCE CONTRACT FOR THE SUPPLY OF A FINANCIAL SERVICE TO A CONSUMER” The following is the information that a supplier must give before entering into a distance contract for the supply of a financial service to a consumer: (a) the identity and the main business of the supplier, the geographical address at which the business of the supplier is established and any other geographical address that may be relevant to the consumer’s relationship with the supplier; (b) if the consumer resides in another Member State and the supplier has a representative in that State: (i) the identity of that representative, and (ii) the geographical address relevant to the consumer’s relations with that representative; (c) if the consumer’s dealings are with a person (other than the supplier) who is acting as an advisor or agent― (i) the person’s identity and the capacity in which the person is acting with respect to the consumer, and (ii) the person’s physical address so far as it is relevant for the consumer’s relations with that person, and (iii) if the person has an electronic mailing address, that address; (d) if the supplier is registered as a company or as a business in a public register― (i) particulars of the register in which the supplier is registered and the supplier’s registration number (if any), or (ii) if there is no such number, an equivalent means of identifying the supplier in that register; (e) if the supplier’s business is subject to an authorisation scheme, the particulars of the relevant supervisory authority; (f) if the supplier is a member of a profession regulated by law, particulars specifying or identifying― (i) any professional body or similar institution of which the supplier is a member, and (ii) the professional designation of the supplier and the Member State where the designation has been conferred, and (iii) a reference to the applicable rules governing the profession in that Member State and to where those rules can be accessed; (g) if the supplier is registered for value-added tax, the registration number assigned to the supplier in accordance with section 9 of the Value-Added Tax Act 1972 (No. 22 of 1972); (h) a description of the main characteristics of the financial service to be supplied by the supplier; (i) the total price to be paid by the consumer to the supplier for the financial service, including all related fees, charges and expenses and all taxes paid through the supplier or, if an exact price cannot be specified, the basis for calculating the price so as to enable the consumer to verify it; (j) whenever relevant, a notice indicating that― (i) the financial service is related to instruments involving special risks related to their specific features or the operations to be executed or whose price depends on fluctuations in the financial markets outside the supplier’s control, and (ii) historical performances are no indicators for future performances; (k) notice of the possibility that other taxes or costs may exist that are neither paid by the supplier nor imposed by the supplier; (l) any limitation of the period for which information given by the supplier is valid; (m) the arrangements for payment and performance that will apply under the contract; (n) if an additional charge is or is to be imposed on the consumer for using a particular means of distance communication in connection with the contract, the amount of the charge; (o) whether or not there is or will be a right to cancel the contract in accordance with these Regulations, and if there is such a right― (i) the period during which it can be exercised, and (ii) the conditions under which the right can be exercised (including information about any charge that the consumer may be required to pay in accordance with Regulation 15), and (iii) the consequences of not exercising that right; (p) the minimum duration of the contract in the case of a financial service that is to be performed on a continuing or recurring basis; (q) any rights the parties may have to terminate the contract early or unilaterally because of the terms of the contract and any penalty that may be imposed under the contract for early termination; (r) practical instructions for exercising the right to cancel the contract (which instructions must include the address to which notification of cancellation must be sent); (s) the Member State the laws of which the supplier adopts as a basis for establishing relations with the consumer before the contract is entered into; (t) any term of the contract dealing with the question of what law is to apply to the contract or which court has jurisdiction with respect to the determination of disputes arising under the contract; (u) the language or languages in which the contractual terms and conditions and the prior information required by this Schedule are given; (v) the language or languages in which the supplier, with the agreement of the consumer, undertakes to communicate with the consumer while the contract remains in force; (w) whether or not there is an out-of-court complaint and redress process for the consumer and, if there is, the procedure for gaining access to it; (x) the existence of guarantee funds or other compensation arrangements, except to the extent that they are required by the European Communities (Deposit Guarantee Schemes) Regulations 1995 (S.I. No. 168 of 1995) or the Investor Compensation Act 1998 (No. 37 of 1998).