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The content of this document has been approved and issued by Efficient Frontier Investing S.A. (“EFI”) for information purposes only. The information and opinions contained in this document are for background information and discussion purposes only and do not purport to be full or complete. No information in this document should be construed as providing financial, investment or other professional advice. This information contained herein is for the sole use of its intended recipient and may not be copied or otherwise distributed or published without EFI’s express consent. No reliance may be placed for any purpose on the information contained in this document or their accuracy or completeness. Information included in this document is intended for those investors who meet the Financial Conduct Authority definition of Professional Client or Eligible Counterparty. Any material provided herein is intended only for discussion purposes and is not intended as an offer or solicitation with respect to the purchase or sale of any investment products and should not be relied upon by the recipient in evaluating the merits of investing in any product.

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