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The Moral Imperative of the Short-Seller
29 Oct 2020
Disclosure
This presentation is a marketing communication. It does not constitute an invitation, offer, solicitation or recommendation to purchase or sell shares in the Fund. It is only intended for distribution to professional clients only, with the experience, knowledge & expertise to make educated investment decisions & understand the associated risks. The views expressed within the presentation are those of Argonaut Capital Partners and do not constitute any form of advice. Distribution of this presentation and the offering of shares in certain jurisdictions may be restricted by law and accordingly persons into whose possession this presentation comes are required to inform themselves about and to observe such restrictions. The views expressed do not constitute investment advice. This presentation does not form any part of any contract for the sale or purchase of any investment.
This document does not constitute an offer or solicitation to anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such offer or solicitation.
Information contained in this presentation is thought to be accurate at the time of publication however is subject to change. We are under no obligation to update you of any future changes. The unauthorised access, copying or re-use of the information contained in this presentation by any other person is strictly forbidden.
Tax assumptions and reliefs depend upon an investor’s particular circumstances and may change if those circumstances or the law change. Potential investors should consult their financial & tax advisers before purchasing or selling shares in the Fund.
The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Past performance does not guarantee future returns. Exchange rate movements may cause the value of overseas investments to fluctuate. The use of independent ratings is not a recommendation to buy and is not a guide to future returns.
Argonaut Capital Partners LLP is authorised and regulated by the Financial Conduct Authority (FCA). FCA Reg. No. 433809. Argonaut Capital™ and the Argonaut Capital logo are trademarks of Argonaut Capital Partners.
Issued by Argonaut Capital partners LLP. Registered in Scotland No. S0300614. Registered office: 4th Floor, 115 George Street, Edinburgh, EH2 4JN.
FundRock Management Company S.A. (formerly IFDS Managers Limited) is the Authorised Corporate Director (the “ACD”) of the FP Argonaut Funds and is authorised and regulated by the FCA. Registered office: Cedar House, 3 Cedar Park, Cobham Road, Dorset, BH21 7SB.
For full details of the FP Argonaut Funds including details of risks & charges please refer to the Full Prospectus, Key Investor Information Documents & Supplementary Information Document which can be obtained by ringing 0844 620 0290 or from www.fundrock.com
The FP Argonaut Funds are currently registered for sale in the following countries, Austria, France, Germany, Guernsey, Isle of Man, Singapore (Institutional Investors only), Spain, Switzerland and the UK. Copies of all relevant scheme documentation can be obtained free of charge from the locally appointed paying agents. Austrian Paying Agency: Uni Credit Bank Austria AG, Schittengasse 6-8, A-1011, Vienna; French Centralising agreement: Société Générale SA, 29 Boulevard Haussmann, F-75009 Paris; German Paying Agency: Société Générale SA, Frankfurt Branch, Neue Strabe 46-50, D-60311, Frankfurt / Main. Germany; Guernsey Local Representative: Carey Commercial Limited, PO Box 285 1st and 2nd Floors Elizabeth House, Les Ruettes Brayes, St Peter Port, Guernsey; Ireland Facilities Agent: Carne Global Financial Services Limited, Harcourt Road, Dublin2, Ireland; Spanish Local Agent: RBC Dexia Investor Services Espana SA Madrid, Fernando el Santo 20, ES-Madrid; Swiss Representative: First Independent Fund Services Ltd., Klausstrasse 33, CH-8008 Zurich. Paying Agency: NPB Neue Privat Bank AG, Limmatquai 1, P.O. Box, CH-8022 Zurich.
The Argonaut Capital Partners website is designed for the use of Investment Professionals and Institutional Investors only. Please select the category that best reflects your status to access the website. This website is governed by the laws of the UK.
UK Investment Professionals and Institutional Investors
This website is directed at Investment Professionals (Independent Financial Advisers and Discretionary Investment Managers) as well as Institutional Investors. This website is governed by the laws of the UK and is not intended for use by Retail Investors. Issued by Argonaut Capital Partners Reg No. SO300614. Registered office: 4th Floor, 115 George Street, Edinburgh, EH2 4JN. Authorised and regulated by the Financial Conduct Authority.
Please read our risk warnings for your own protection and benefit before proceeding. The information on this website is not intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for proper professional advice.
Argonaut Capital Partners endeavours to ensure that the data and other material in this website is correct and complete, but does not accept liability for any error made or omission from this website. Applications to invest in any fund referred to within this site must only be made based on the information contained within the relevant offer document i.e. Key Investor Information Document where applicable.
The Argonautica blog is made available solely for the information of UK investment professionals, UK institutional investors, International investment professionals as well as International institutional professionals and is not intended for, and should not be relied upon by retail investors. The information contained or referred to in the blog is given for information purposes only and is not intended to constitute financial, legal, tax, investment or other professional advice and should not be relied upon as such. The content of the Argonautica blog is for the confidential use of only those persons to whom it is lawfully transmitted and is not to be reproduced, distributed or used for any other purposes.
Nothing on this site shall be deemed to constitute investment advice.
Residents or citizens of the United States of America are specifically prohibited from investing in these funds and no person may offer investment in these funds to residents or citizens of the United States of America.
Cookies are currently used on the Argonaut website to prevent disclaimer pages from reappearing when you return to the site and by Google Analytics, a web analytics service provided by Google, Inc. to compile anonymous, aggregated statistics that allow us to understand how users use our site.
For more information about our Cookie policy and how to disable cookies on your computer please read our Privacy and Cookie policy before proceeding. By accepting the terms of this disclaimer and entering our website you are agreeing to our Cookie policy.
Legal
Please note that this website is governed by the laws of the UK.
Residents or citizens of the United States of America are specifically prohibited from investing in these funds and no person may offer investment in these funds to residents or citizens of the United States of America. The information does not constitute an offer or solicitation of an offer for investment in any jurisdiction outside the United Kingdom.
By entering this site you have agreed that you have read and understood and agreed to be bound by the terms of this Legal page.
General Terms and Disclaimers
The following information applies to every page on this website, whether or not such pages individually contain a disclaimer notice.
Please read the following important information. It explains certain legal and regulatory restrictions which apply to any investment in the products referred to in this website. Nothing contained in this website is intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for professional advice.
Argonaut endeavours to ensure that the data and other material in this website is correct and complete, but does not accept liability for any error made or omission from this website. Nothing on this site shall be deemed to constitute investment advice. Applications to invest in any fund referred to within this site must only be made based on the information contained within the relevant documentation, e.g. Key Investor Information Document.
The information contained within this site has been compiled with care to ensure accuracy at the date of publication however the development of Argonaut products and services is continuous and published information may not always be up to date.
Copyright in the pages of this site and all proprietary rights in the information and material therein is and shall remain the property of Argonaut. Reproduction, redistribution and transmission of any information in these pages, in whole or in part, without the prior written consent of Argonaut is strictly prohibited.
Argonaut shall not be liable for any claims or losses of any nature, arising indirectly or directly from use of the data or material on this site.
Money Laundering
We are required by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002, the Terrorism Act 2000, the Bribery and Corruption Act 2010, the Financial Conduct Authority Senior Management Arrangements Systems & Controls Sourcebook and the Joint Money Laundering Steering Group guidance notes (as amended from time to time) to verify both the applicant and the source of funds (if different). This may involve us carrying out an electronic search of information using credit reference agencies. Completion of an application form represents permission to access this information in accordance with the Data Protection Act 1998 and also the General Data Protection Regulation.
Links to External Sites
Links to other sites from this website are for information only. Should you leave this website via a link contained herein, you do so at your own risk. Argonaut is not responsible for the content on other websites.
Telephone Calls
Both incoming and outgoing calls maybe recorded and/or monitored.
Email
Internet communication is not guaranteed to be timely, secure, error or virus free. Argonaut accepts no liability for any harm to systems or data, nor for personal emails. Emails may be recalled, deleted and monitored.
This Website is directed at Institutional Investors and is not intended for use by Retail Investors or members of the General Public.
1. Important Information
Please note that this website is governed by the laws of the UK and is not intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for professional advice. This website is intended as a summary for Institutional Investors and is not an invitation to subscribe for shares or units.
Argonaut endeavours to ensure that the data and other material in this website is correct and complete and the information contained hereto is published in good faith but no representation or warranty, express or implied, is made as to its accuracy or completeness and it should not be relied on as such.
Argonaut shall have no liability for any error made or omission from this website or for any loss or damage arising out of the use or reliance on the information provided herein including, without limitation, any loss of profit or any other damage, direct or indirect. Argonaut excludes any claims, losses, costs, damages, expenses (including reasonable legal cost and expenses) or liabilities whatsoever, however suffered or incurred. Argonaut shall not bear any losses, costs or expenses incurred as a consequence or result of improper use by any third party or investor of this website.
Subscriptions in any Argonaut fund is only valid if made on the basis of the current Prospectus, the Supplements to the Prospectus (where applicable), the Simplified Prospectus and the most recent financial reports (where available) which are available on request by e-mailing sales@argonautcapital.co.uk or on our website www.argonautcapital.co.uk
This website does not constitute an offer or solicitation to invest in any fund in any country where such offer or solicitation is unlawful. This website is not directed at you if the laws or regulations of any country prohibit or restrict the material on this website from being made available to you, and it is not intended for any use which would be contrary to local law or regulation. You should only enter this website if you have satisfied yourself that the country in which you are based imposes no prohibitions or restrictions on the distribution of material on this website.
Distribution of any documents and the offering of shares in certain jurisdictions may be restricted by law and accordingly persons into whose possession this document comes are required to inform themselves about and to observe such restrictions.
Residents or citizens of the United States of America are specifically prohibited from investing in Argonaut Funds and no person may offer investment in Argonaut Funds to residents or citizens of the United States of America.
Past performance is not a guide to future performance. Any performance data shown does not take into account the commissions and costs incurred on the issue and redemption of units. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Tax assumptions and reliefs depend upon an investor's particular circumstances and may change if those circumstances or the law change. Potential investors must consult their financial & tax advisers before purchasing or selling shares in the Fund.
This website is issued by Argonaut Capital Partners and is authorised and regulated in the United Kingdom by the Financial Conduct Authority.
2. General Terms and Disclaimers
The information contained within this site has been compiled with care to ensure accuracy at the date of publication, however, the development of Argonaut products and services is continuous and published information may not always be up to date.
Copyright in the pages of this site and all proprietary rights in the information and material therein is and shall remain the property of Argonaut. Reproduction, redistribution and transmission of any information in these pages, in whole or in part, without the prior written consent of Argonaut is strictly prohibited.
3. Money Laundering
For institutional investors, the identity of the legal entity which will invest must be established before business can be accepted. If the applicant is a pension scheme, the Pension Scheme Trust Deed and any amendments thereto will require to be produced.
4. Links to External Sites
Links to other sites from this website are for information only. Should you leave this website via a link contained herein, you do so at your own risk. Argonaut is not responsible for the content on other websites.
5. Telephone Calls
Both incoming and outgoing calls may be recorded and/or monitored.
6. Email
Internet communication is not guaranteed to be timely, secure, error or virus free. Argonaut accepts no liability for any harm to systems or data, nor for personal emails. Emails may be recalled, deleted and monitored.
This website is directed at Investment Professionals (Independent Financial Advisers and Discretionary Investment Managers) as well as Institutional Investors. This website is governed by the laws of the UK and is not intended for use by Retail Investors. Issued by Argonaut Capital Reg No. SO300614. Registered office: 4th Floor, 115 George Street, Edinburgh, EH2 4JN. Authorised and regulated by the Financial Conduct Authority.
Please read our risk warnings for your own protection and benefit before proceeding. The information on this website is not intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for professional advice.
Argonaut Capital Partners endeavours to ensure that the data and other material in this website is correct and complete, but does not accept liability for any error made or omission from this website. Applications to invest in any fund referred to within this site must only be made based on the information contained within the relevant offer document i.e. Key Investor Information Document where applicable.
The Argonautica blog is made available solely for the information of UK investment professionals , UK institutional investors, International investment professionals as well as International institutional professionals and is not intended for, and should not be relied upon by retail investors. The information contained or referred to in the blog is given for information purposes only and is not intended to constitute financial, legal, tax, investment or other professional advice and should not be relied upon as such. The content of the Argonautica blog is for the confidential use of only those persons to whom it is lawfully transmitted and is not to be reproduced, distributed or used for any other purposes.
Nothing on this site shall be deemed to constitute investment advice.
Residents or citizens of the United States of America are specifically prohibited from investing in these funds and no person may offer investment in these funds to residents or citizens of the United States of America.
Cookies are currently used on the Argonaut website to prevent disclaimer pages from reappearing when you return to the site and by Google Analytics, a web analytics service provided by Google, Inc. to compile anonymous, aggregated statistics that allow us to understand how users use our site.
For more information about our Cookie policy and how to disable cookies on your computer please read our Privacy and Cookie policy before proceeding. By accepting the terms of this disclaimer and entering our website you are agreeing to our Cookie policy.
Legal
Please note that this website is governed by the laws of the UK.
Residents or citizens of the United States of America are specifically prohibited from investing in these funds and no person may offer investment in these funds to residents or citizens of the United States of America. The information does not constitute an offer or solicitation of an offer for investment in any jurisdiction outside the United Kingdom.
By entering this site you have agreed that you have read and understood and agreed to be bound by the terms of this Legal page.
General Terms and Disclaimers
The following information applies to every page on this website, whether or not such pages individually contain a disclaimer notice.
Please read the following important information. It explains certain legal and regulatory restrictions which apply to any investment in the products referred to in this website. Nothing contained in this website is intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for professional advice.
Argonaut endeavours to ensure that the data and other material in this website is correct and complete, but does not accept liability for any error made or omission from this website. Nothing on this site shall be deemed to constitute investment advice. Applications to invest in any fund referred to within this site must only be made based on the information contained within the relevant documentation, e.g. Key Investor Information Document.
The information contained within this site has been compiled with care to ensure accuracy at the date of publication however the development of Argonaut products and services is continuous and published information may not always be up to date.
Copyright in the pages of this site and all proprietary rights in the information and material therein is and shall remain the property of Argonaut. Reproduction, redistribution and transmission of any information in these pages, in whole or in part, without the prior written consent of Argonaut is strictly prohibited.
Argonaut shall not be liable for any claims or losses of any nature, arising indirectly or directly from use of the data or material on this site.
Money Laundering
We are required by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002, the Terrorism Act 2000, the Bribery and Corruption Act 2010, the Financial Conduct Authority Senior Management Arrangements Systems & Controls Sourcebook and the Joint Money Laundering Steering Group guidance notes (as amended from time to time) to verify both the applicant and the source of funds (if different). This may involve us carrying out an electronic search of information using credit reference agencies. Completion of an application form represents permission to access this information in accordance with the Data Protection Act 1998 and also the General Data Protection Regulation.
Links to External Sites
Links to other sites from this website are for information only. Should you leave this website via a link contained herein, you do so at your own risk. Argonaut is not responsible for the content on other websites.
Telephone Calls
Both incoming and outgoing calls may be recorded and/or monitored.
Email
Internet communication is not guaranteed to be timely, secure, error or virus free. Argonaut accepts no liability for any harm to systems or data, nor for personal emails. Emails may be recalled, deleted and monitored.
This Website is directed at Institutional Investors and is not intended for use by Retail Investors or members of the General Public.
1. Important Information
Please note that this website is governed by the laws of the UK and is not intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for professional advice. This website is intended as a summary for Institutional Investors and is not an invitation to subscribe for shares or units.
Argonaut endeavours to ensure that the data and other material in this website is correct and complete and the information contained hereto is published in good faith but no representation or warranty, express or implied, is made as to its accuracy or completeness and it should not be relied on as such.
Argonaut shall have no liability for any error made or omission from this website or for any loss or damage arising out of the use or reliance on the information provided herein including, without limitation, any loss of profit or any other damage, direct or indirect. Argonaut excludes any claims, losses, costs, damages, expenses (including reasonable legal cost and expenses) or liabilities whatsoever, however suffered or incurred. Argonaut shall not bear any losses, costs or expenses incurred as a consequence or result of improper use by any third party or investor of this website.
Subscriptions in any Argonaut fund is only valid if made on the basis of the current Prospectus, the Supplements to the Prospectus (where applicable), the Simplified Prospectus and the most recent financial reports (where available) which are available on request by emailing sales@argonautcapital.co.uk or on our website www.argonautcapital.co.uk
This website does not constitute an offer or solicitation to invest in any fund in any country where such offer or solicitation is unlawful. This website is not directed at you if the laws or regulations of any country prohibit or restrict the material on this website from being made available to you, and it is not intended for any use which would be contrary to local law or regulation. You should only enter this website if you have satisfied yourself that the country in which you are based imposes no prohibitions or restrictions on the distribution of material on this website.
Distribution of any documents and the offering of shares in certain jurisdictions may be restricted by law and accordingly persons into whose possession this document comes are required to inform themselves about and to observe such restrictions.
Residents or citizens of the United States of America are specifically prohibited from investing in Argonaut Funds and no person may offer investment in Argonaut Funds to residents or citizens of the United States of America.
Past performance is not a guide to future performance. Any performance data shown does not take into account the commissions and costs incurred on the issue and redemption of units. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Tax assumptions and reliefs depend upon an investor's particular circumstances and may change if those circumstances or the law change. Potential investors must consult their financial & tax advisers before purchasing or selling shares in the Fund.
This website is issued by Argonaut Capital partners and is authorised and regulated in the United Kingdom by the Financial Conduct Authority.
2. General Terms and Disclaimers
The information contained within this site has been compiled with care to ensure accuracy at the date of publication, however, the development of Argonaut products and services is continuous and published information may not always be up to date.
Copyright in the pages of this site and all proprietary rights in the information and material therein is and shall remain the property of Argonaut. Reproduction, redistribution and transmission of any information in these pages, in whole or in part, without the prior written consent of Argonaut is strictly prohibited.
3. Money Laundering
For institutional investors, the identity of the legal entity which will invest must be established before business can be accepted. If the applicant is a pension scheme, the Pension Scheme Trust Deed and any amendments thereto will require to be produced.
4. Links to External Sites
Links to other sites from this website are for information only. Should you leave this website via a link contained herein, you do so at your own risk. Argonaut is not responsible for the content on other websites.
5. Telephone Calls
Both incoming and outgoing calls may be recorded and/or monitored.
6. Email
Internet communication is not guaranteed to be timely, secure, error or virus free. Argonaut accepts no liability for any harm to systems or data, nor for personal emails. Emails may be recalled, deleted and monitored.
