Risk Disclosure

Capital is at risk

Financial-market investments can rise or fall. Loss of some or all invested capital is possible. Past performance is not a reliable indicator of future results.

Key risks

• Market risk: prices may fall because of economic, issuer-specific or geopolitical developments.
• Liquidity risk: an asset may not be saleable at the expected time or price.
• Currency risk: exchange-rate changes may increase or reduce results.
• Credit risk: an issuer or counterparty may fail.
• Inflation risk: nominal gains may not preserve purchasing power.
• Concentration risk: insufficient diversification can amplify losses.

Forecasts and calculations

Calculators, scenarios and research rely on assumptions. Actual outcomes can differ materially. Diversification and long holding periods cannot eliminate risk.

Personal assessment

General website content cannot establish personal suitability. Goals, horizon, liquidity, knowledge, financial capacity for loss, risk tolerance, tax residence and international circumstances must be assessed in the appropriate process.