GENERAL INFORMATION ABOUT FUTURES TRADING THE RISK OF LOSS IN TRADING COMMODITIES CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN COMMODITY TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS. IN SOME CASES, MANAGED COMMODITY ACCOUNTS ARE SUBJECT TO SUBSTANTIAL CHARGES FOR MANAGEMENT AND ADVISORY FEES. IT MAY BE NECESSARY FOR THOSE ACCOUNTS THAT ARE SUBJECT TO THESE CHARGES TO MAKE SUBSTANTIAL TRADING PROFITS TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS. THE DISCLOSURE DOCUMENT CONTAINS A COMPLETE DESCRIPTION OF THE PRINCIPAL RISK FACTORS AND EACH FEE TO BE CHARGED TO YOUR ACCOUNT BY THE COMMODITY TRADING ADVISOR ("CTA''). THE REGULATIONS OF THE COMMODITY FUTURES TRADING COMMISSION ("CFTC'') REQUIRE THAT PROSPECTIVE CLIENTS OF A CTA RECEIVE A DISCLOSURE DOCUMENT WHEN THEY ARE SOLICITED TO ENTER INTO AN AGREEMENT WHEREBY THE CTA WILL DIRECT OR GUIDE THE CLIENT'S COMMODITY INTEREST TRADING AND THAT CERTAIN RISK FACTORS BE HIGHLIGHTED. THIS DOCUMENT IS READILY ACCESSIBLE ON OUR WEBSITE. THIS BRIEF STATEMENT CANNOT DISCLOSE ALL OF THE RISKS AND OTHER SIGNIFICANT ASPECTS OF THE COMMODITY MARKETS. THEREFORE, YOU SHOULD PROCEED DIRECTLY TO THE DISCLOSURE DOCUMENT AND STUDY IT CAREFULLY TO DETERMINE WHETHER SUCH TRADING IS APPROPRIATE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. YOU WILL NOT INCUR ANY ADDITIONAL CHARGES BY ACCESSING THE DISCLOSURE DOCUMENT. YOU MAY ALSO REQUEST DELIVERY OF A HARD COPY OF THE DISCLOSURE DOCUMENT, WHICH ALSO WILL BE PROVIDED TO YOU AT NO COST. THE CFTC HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN THIS TRADING PROGRAM NOR ON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE DOCUMENT. OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE A COMMODITY ACCOUNT MAY BE OPENED FOR YOU. ABOUT THIS SITE Access to products and services available on this site may be subject to restrictions with regard to certain persons or certain countries. No products and/or services may be offered by Rivoli Fund Management to an individual if the law in his country of origin or any other country concerning the person, product or service prohibits it. Rivoli Fund Management therefore recommends that all interested parties ensure that they are legally authorized to subscribe to the products and/or services offered on the site before any investment is made. We also request that you ensure that you are legally authorized to connect to this website in the country in which the connection is made. This site provides Internet users with information on Rivoli Fund Management : the company, its portfolio management methodology, and the products and services that it offers. It neither constitutes: - an offer of products or services, - nor a proposal or invitation to invest in securities, - nor an invitation to buy or sell securities or any other financial product or investment, - nor a recommendation, - nor a contract. It is important, before you take any investment decision, that you realize that certain investments may incur significant risks, due mainly, but not only, to market fluctuations. Therefore, we strongly recommend that: - you read carefully the informations, brochures, and comments which are at your disposal on this website and at Rivoli Fund Management upon request, - if you feel that your technical knowledge is insufficient, you should seek professional advice. Our information is obtained from reliable sources. It is updated on a regular basis. We cannot, however, guarantee the accuracy of the information and we decline any liability for its subsequent use. There is no guarantee of trading performance and past performance is no guarantee of future results. The information available on this website and associated sites is partial or incomplete and has no contractual value. You will find on this website links to other internet sites. Rivoli Fund Management declines any liability for the contents of these sites. Technical failures may happen on this site, even if we do our best to avoid it. Rivoli Fund Management declines any responsibility for the consequences of such failures.  This website, governed by French law, is subject to French jurisdictions. Rivoli Fund Management 6, Avenue Kleber, 75116 PARIS, FRANCE A French public corporation (SAS) with an issued capital of EUR 161 115 Id number : R.C.S. Paris B 408 518 637