GIP

NOTE FOR ITALIAN INVESTORS

The information on this site, relating to Alternative Investment Funds (AIFs), is intended exclusively for Investors classified as "professional clients" pursuant to the so-called directive. "MiFID".

The contents of this site are published for informational use only on the products offered by the company Global Selection Sgr and therefore does not constitute an offer or solicitation or offer of shares or investment services. The content of the site and copies of the material published therein may not be transmitted in the United States and do not constitute an offer to sell products or services in the United States, to US persons within the meaning of Regulation S of the United States Securities Act of the 1933 ("US Persons"). In particular, the section of the website dedicated to the so-called hedge funds contains information relating to the reserved alternative investment funds (AIFs). Global Selection Sgr has not made any recommendations regarding the AIFs described therein.

The site and the information contained therein are not directed to people in jurisdictions in which, for any reason, publication or access to the site is prohibited. Persons whose access is so restricted cannot access this site.

Any access to this site from outside the territory of the Italian Republic will be done under the sole responsibility of the user in compliance with applicable laws and regulations. Without prejudice to the foregoing, it is not intended to make any offer, sale and / or distribution of the products described on this site in any jurisdiction and to any person where this is illegal.

Before joining and in any case before making any investment, the Regulations and the Offer Document which must be delivered by the proposer to the investment, together with any other document required by the legislation in force from time to time, must be carefully read.

Past performance is not indicative or a guarantee of future performance. The Company makes no warranties or assurances in relation to future performance.

Global Selection SGR will use all reasonable efforts to ensure that the information contained in this website is updated and accurate at the date of publication; however, no guarantee is given as regards the accuracy, reliability or completeness of the information.

Global Selection SGR expressly disclaims any responsibility for any losses arising, directly or indirectly, from the use of the information or from the actions taken on the basis of such information. Global Selection SGR is in no way responsible for the accuracy of the content of other Internet sites that may be linked to this site. The existence of a link to another site does not imply approval by Global Selection SGR of the information provided.

NOTE FOR SWISS INVESTORS

The distribution of the Fund's shares in Switzerland may only be directed to qualified investors ("Qualified Investors"), as defined by the Collective Investment Schemes Act of 23 June 2006 ("CISA") and related ordinances. The Fund has not been authorized by the Federal Financial Market Supervisory Authority ("FINMA"). This document and / or any other document relating to the Fund may only be provided in Switzerland to Qualified Inventors. The Representative and Paying Agent in Switzerland is Banca del Ceresio SA, Via della Posta 7, CH - 6901 Lugano. The Fund's Single Regulations, as well as the annual and semi-annual report, if any, are available free of charge in Switzerland from the Representative. For all Fund units distributed in Switzerland, the place of execution and the place of jurisdiction are at the registered office of the Representative.