Index Certificate

The funds are analyzed according to specific quantitative and qualitative criteria, with extra attention on the risk management of the individual managers. The VK1 Index Certificate follows 20 to 50 different hedge funds in an index. The main points for controlling risks and reducing volatility in the returns are:

- Methodical investment
- Critial selection of the portfolio managers
- Diversification across different, uncorrelated trading instruments
- Diversification across different, uncorrelated markets worldwide

Warning:

This publication takes account of neither specific investment goals nor the financial situation or special requirements of the recipient. It is for informational purposes only and must not be regarded as a sales offering or an invitation to buy securities or financing instruments. The securities or financing instruments depicted herein might not be suitable investment instruments for every recipient. Purchasing these instruments might possibly be regarded as risky. We therefore strongly advise you to obtain independent advice from investment advisers or tax consultants and to read the notifications of risk in the sales prospectus with care. Any product-specific information contained herein is based on information taken from the sales prospectus. However, only the sales prospectus is legally authoritative. The informative material should therefore be read only in conjunction with the sales prospectus. The information provided is based on sources that Varengold Wertpapierhandelsbank AG regards as reliable. Varengold Wertpapierhandelsbank AG is nevertheless unable to guarantee the accuracy and completeness of that information.