African Infrastructure Investment Managers (Pty) Ltd (Reg No 2000/001435/07) (FSP 4307) (“AIIM”) and Old Mutual Alternative Investments (Pty) Ltd (Reg No 2013/113833/07) (FSP 45255) (“OMAI”) are licensed financial services providers (“FSPs”), approved by the Financial Sector Conduct Authority (www.fsca.co.za) to provide advisory and/or intermediary services in terms of the Financial Advisory and Intermediary Services Act 37, 2002. AIIM and OMAI are subsidiaries within Old Mutual Investments (Pty) Ltd and ultimately owned by Old Mutual Limited. Further, OMAI includes the following capabilities:

• Impact Investing;
• Hybrid Equity;
• Private Equity; and
• International Private Equity.

While every effort has been made to ensure the accuracy of the information contained herein, the FSPs, its associated companies, its directors or employees provide no representation or warranty, express or implied, regarding the accuracy, completeness, or correctness of the Information. Any opinion expressed is intended for general information only and is subject to change at any time without notice. Applications to invest in any product referred to on this document may only be made on the basis of the offer documentation relating to that specific investment. Should you wish to discuss a possible investment or to review our offer documentation, please contact us. The information herein does not constitute an offer to sell or a solicitation of an offer to buy any securities, and no representations or warranties are given or implied. The information contained herein is subject to discussion, completion, and amendment and you should not solely rely on the contents hereof for investment or other decisions. The contents of this document do not constitute advice as defined in FAIS.

Investment portfolios are market-linked. Pooled products may be policy based, via a linked policy of insurance issued by Old Mutual Life Assurance Company (South Africa) Ltd, which is a registered Long-Term Insurer. Contractual rights and obligations of investors are set out in the relevant investor agreements and or mandates. Unlisted investments have short term to long term liquidity risks and there are no guarantees on the investment capital nor on performance.

It should be noted that investments within funds may not be readily marketable. It may therefore be difficult for an investor to withdraw from the fund or to obtain precise information about its value and the extent of the risks to which it is exposed. Market fluctuations and changes in exchange rates as well as taxation may affect the value, price, or income of investments and capital contributions. Since financial markets fluctuate, an investor may not recover the full amount invested. Past performance is not necessarily a guide to future investment performance.

For information about AIIM and OMAI’s privacy policy, please visit www.aiimafrica.com and www.oldmutualalternatives.com.

This document is not an advertisement, and it is not intended for general public distribution. We outsource investment administration of our local funds to Curo Fund Services, 50% of which is owned by Old Mutual Investments (Pty) Ltd. All intra-group transactions are done on an arm’s length basis. Personal trading by staff is restricted to ensure that there is no conflict of interest. All directors and those staff who are likely to have access to price sensitive and unpublished information in relation to the Old Mutual group are further restricted in their dealings in Old Mutual shares. All employees of OMAI and AIIM are remunerated with salaries and standard incentives as are usual when managing alternative asset classes. In addition to remuneration, unless disclosed to the client, no commission or incentives are paid by OMAI and AIIM to any persons other than its representatives.

OMAI and AIIM have comprehensive crime and professional indemnity insurance which is part of the Old Mutual group cover.