References to Future Returns

References to future returns are not promises or even estimates of actual returns that an investor may achieve. Any forecasts and other material contained in this website are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. Brevan Howard gives no representations, warranties or undertakings that any indicative performance or return will be achieved in the future or that the investment objectives and policies from time to time of our funds will be met. Past performance is no guarantee and is not indicative of future results. While our funds are subject to market risks common to other types of investments, including market volatility, the funds employ certain trading techniques, such as the use of leverage and other speculative investment practices that may increase the risk of investment loss.

Stop-Loss and Stop-Limit Orders for Futures Contracts

Some regulated exchanges may permit our funds to enter into stop-loss or stop-limit orders for security futures contracts, which are intended to limit our exposure to losses due to market fluctuations but won’t necessarily limit potential losses to the intended amount, as market conditions may make it impossible to execute the order or to get the stop price.