ON-LINE ACCESS AND TERMS OF USE AGREEMENT
1. INTRODUCTION
Welcome to www.aftllc.com. By accessing this website (the “Site”), you agree that your access to and use of this Site, including any Content (as defined below) provided by Alpha Financial Technologies, LLC, (“AFT”), shall be exclusively governed by the terms and conditions set forth in this On-Line Access and Terms of Use Agreement (the “Agreement”). You should read the terms and conditions of this Agreement carefully. Do not access this Site unless the terms and conditions are acceptable to you. AFT may refuse access to and usage of this Site to anyone at any time, in its sole discretion. AFT reserves the right to modify or discontinue this Site without notice, or change the terms and conditions governing your access to and use of this Site, at any time.
2. PURPOSE OF THIS SITE
This Site is intended to provide an introduction to AFT, the Standard & Poor’s Diversified Trends Indicator (the “S&P DTI”) and the S&P Commodities Trends Indicator (“S&P CTI”); however it does not purport to provide complete details on the S&P DTI or S&P CTI. This Site is for information purposes only, and should not be construed as investment, legal or tax advice. The S&P DTI and S&P CTI are collectively referred herein as the “Indicator”.
Standard & Poor’s (“S&P”) does not sponsor, endorse, sell or promote any investment product or vehicle that is offered by third-parties and that seeks to provide an investment return based on the returns of the S&P DTI or S&P CTI (a “Product”). AFT does not provide any form of investment advice and receives no compensation from any client or clients. Rather, AFT solely receives a license fee from S&P. None of the information or material on this website is intended, or should be used, as any form of advice or recommendation. In particular, AFT does not direct client accounts or provide commodity trading advice based on or tailored to the commodity interests or cash markets or other circumstances of a particular client. Prospective investors in products based on the Indicator are urged to consult with their own advisers regarding an investment in any Products.
AFT makes no representations that materials on this Site are appropriate for use in all locations. Those who access this site do so on their own initiative, and are responsible for compliance with applicable local laws or regulations.
This Site is not directed at or intended for distribution to or used by, any person or entity who is a citizen or resident of or located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which would subject AFT to any registration or licensing requirement within such jurisdiction. If you are such a person you are not authorized to enter this Site.
Neither this Site nor any information contained on this Site constitutes an offer to sell (nor the solicitation of an offer to buy) any Product based on an Indicator. Any such offer may only be made by the offering memorandum and/or other disclosure document prepared by the issuer or sponsor of each such Product, which contains important disclosures and risk factors and which all investors must receive in conjunction with the offering thereof. Prospective Investors in a Product based on an Indicator shall solely rely upon such Product’s disclosure document in making an investment decision and not on the other information contained on this Site.
While AFT uses reasonable efforts to obtain information from reliable sources, AFT makes no representations or warranties as to the accuracy, reliability or completeness of any information or document on this Site. Unless otherwise indicated, AFT derived all data concerning the S&P DTI and the S&P CTI from Standard & Poor’s (“S&P”), the S&P DTI Methodology and Implementation and/or the S&P CTI Methodology and Implementation, and all other data from Ibbotson Associates, a respected third-party research company. The information provided by such entities is subject to adjustment, which may require AFT to make adjustments to the information provided on this Site. In addition, rounding differences between the various computer programs utilized in computing the data on this Site, may result in minor inaccuracies in the data presented. Opinions and any other contents on this Site are subject to change without notice. AFT is not utilizing this Site to provide investment or other advice to you or any other party, and no information or material on this Site is to be relied upon for the purpose of making or communicating investment or other decisions.
All materials on this Site are meant to be reviewed in their entirety, including any footnotes, legal disclaimers, restrictions or disclosures and any copyright or proprietary notices. Any disclaimers, restrictions, disclosure or hedge clauses apply to any partial document or material in the same manner as they do the whole, and will be deemed incorporated in the portion of any material or document that you consult or download.
3. SUMMARY OF RISK FACTORS
An investment in any Product based on an Indicator is speculative and involves a substantial degree of risk. Investors could lose all or substantially all of their investment in any Product based on an Indicator. Investors must be able to bear the risks involved and must meet the suitability requirements of such Product. Some or all alternative investment programs may not be suitable for certain investors. No assurance can be given that the investment objectives of any Product based on an Indicator will be achieved. Statistical information regarding the S&P DTI nor the S&P CTI is necessarily indicative of future results.
One of the risks associated with the S&P DTI and the S&P CTI is the complexity of the different factors which contribute to the results of the S&P DTI and the S&P CTI. Indicators that switch from long to short positions according to a rules-based methodology are unusual. The S&P DTI and the S&P CTI could decline in a wide range of different market scenarios, including ones in which other commodity indices (both all long and long/short) rise substantially. Over the long-term, there is a greater likelihood that the performance potential suggested by simulated statistical information may be realized. Over the short-term, on the other hand, there is a much greater possibility that the S&P DTI and/or the S&P CTI will decline substantially, causing significant declines.
Replication of the S&P DTI and the S&P CTI involves execution costs and position slippage which can be substantial. In addition, replication of the S&P DTI and the S&P CTI may be affected by, among other things, disruption caused by futures market closures and/or trading price or volume limitations imposed by one or more futures markets. Past performance is not necessarily indicative of future results.
Please see the S&P DTI Methodology and Implementation and the S&P CTI Methodology and Implementation for detailed information on the S&P DTI and S&P CTI, respectively. AFT has no affiliation with S&P. However, AFT receives a license fee from S&P on both the S&P DTI and the S&P CTI. Such license fee is based, in part, on the assets managed in products using these two methodologies. However, it is imperative that prospective investors recognize that these documents do not constitute an offer to sell or a solicitation of an offer to buy any security and that the disclosures and risk factors provided therein and such other information do not purport to, and do not, meet the standards applicable to securities offerings.
4. CONFIDENTIALITY, INTELLECTUAL PROPERTY RIGHTS
“S&P”, “Standard & Poor’s”, “S&P DTI” and “S&P CTI” are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by AFT.
AFT owns and maintains this Site. Except as noted above, the images, text, information, software, code, material, trademarks, trade names, logos and service marks displayed on this Site (collectively, the “Content”) are the intellectual property of AFT. Nothing on this Site shall be construed as granting by implication, estoppel or otherwise any license or right to use any of the Content of this Site. No act of downloading or otherwise copying from this Site will transfer title to any software or material on this Site to you. Anything that you transmit to this Site becomes the property of AFT, may be used by AFT for any lawful purpose, and is further subject to disclosure as deemed appropriate by AFT including to any legal or regulatory authority to which AFT is subject. AFT reserves all rights with respect to copyrights, service mark and trademark ownership of all Content on this Site and will enforce such rights to the full extent of the law.
Unless information contained on this Site is otherwise public information, all Content contained on this Site is considered to be confidential information (including the Site’s features, functions, options, tools, capabilities, format and layout, etc.). You agree not to copy, republish or redistribute any of the Content or disclose the same to any third parties unless and only (a) to your officers, employees and professional advisors, (b) to the extent AFT has given you written permission to do so, or (c) as required by law or regulation or request from a regulatory authority.
Users shall not use this Site at any time for any purpose that is unlawful or prohibited and shall comply with any applicable local, state, national, or international laws or regulations when using this Site. In no event will AFT, or its affiliates or employees have any liability in connection with the use by any person of the information or data presented on this Site.
5. DISCLAIMERS
This Site is operated by AFT on an “AS IS,” “AS AVAILABLE” basis, without representations or warranties of any kind. AFT DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THIS SITE AND ITS CONTENT, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF TITLE, MERCHANTABILITY, NON-INFRINGEMENT AND FITNESS FOR A PARTICULAR PURPOSE. Without limiting the foregoing, AFT does not represent or warrant that the Content on this Site is accurate, reliable, complete or current or that this Site will operate without interruption or error. AFT makes reasonable efforts to avoid technological problems, but at any time this Site may have and may cause problems, such as viruses or other harmful components. AFT shall not be liable for any action you take or any decision you make in reliance on this Site. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimer may not apply to you.
6. LIMITATION OF LIABILITY
Under no circumstances, shall AFT and its affiliates or any of their employees, directors, officers, agents, vendors or suppliers be liable for any direct or indirect losses or damages arising out of or in connection with the use of or inability to use this Site. This is a comprehensive limitation of liability that applies to all losses and damages of any kind (whether general, special, consequential, incidental, exemplary or otherwise, including, without limitation, loss of data, income or profits), whether by statute, law or in contract, negligence or other tortuous action, even if an authorized representative of AFT or its affiliates has been advised or should have known of the possibility of such damages. Applicable law may not allow the limitation of liability set forth above, so this limitation of liability may not apply to you. In no event shall the total liability of AFT or any of its affiliates for any and all damages and causes of action exceed the amount paid by you, if any, for the use of this Site.
7. NO ENDORSEMENTS
References on this Site to any names, marks, products or services of third parties or hypertext links to third party sites or information do not constitute or imply an endorsement, sponsorship, or recommendation of the third party, information, product or service by AFT. AFT and its affiliates do not endorse or make any warranties or representations about any site you may access through this Site. Any links to other sites are provided for convenience only. If you access any third party web site through this Site or otherwise, you do so at your own risk.
8. MONITORING THIS SITE
AFT reserves the right to monitor and record activity on this Site at its sole discretion, and may report any activity that it suspects may violate any law or regulation as it deems appropriate.
9. LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of Texas, U.S.A., excluding its conflicts of law principles.
