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Disclaimer

Investment outlooks / Q3 2020

This document is Investment Research issued by Dolfin Financial (UK) Ltd (“Dolfin”). It provides an analysis of an investment strategy, explicitly or implicitly, concerning one or several financial instruments or the issuers of financial instruments, and includes opinion as to the present or future value or price of such instruments. The information contained in this document does not constitute the provision of investment advice nor a recommendation, offer or solicitation to acquire, or dispose of, any of the financial instruments mentioned and will not form the basis ,or a part of, any contract or commitment whatsoever. This Investment Research is independent, on the basis that Dolfin does not have any relationship or association with any party to which a financial instrument mentioned in this document relates, and which may impact on the ability of Dolfin to act objectively.

No representation or warranty, express or implied, is made by Dolfin or any of its directors, officers or employees as to the accuracy, completeness or fairness of the information in this document and no responsibility or liability is accepted for any such information (save in respect of fraudulent representation or warranty). Dolfin has not performed any independent review or verification of any publicly available information used in the preparation of this document. Dolfin will not update, modify or amend this document or otherwise notify a recipient in the event that any matter stated in this document changes or is subsequently found to be inaccurate.

Prior to making any investment decision investors should seek independent professional advice regarding suitability of any transaction including the economic benefits and risks and legal, regulatory, credit, accounting and tax implications and draw their own conclusions. The past performance of financial instruments is not indicative of future results and you may get back less than the amount you invested.

Dolfin and/or its affiliates may act as a principal or agent in relation to the financial instrument(s) mentioned in this document. Dolfin may perform or seek to perform investment banking, wealth management and/or asset management services for any of the issuers mentioned here.

This document may not be reproduced, redistributed or passed on to any other person or published, in whole or in part, for any purpose, without the prior, written consent of Dolfin. The manner of distributing this document may be restricted by law or regulation in certain countries, including the United States. Persons into whose possession this document may come are required to inform themselves about and to observe such restrictions.

Dolfin is the trading name of Dolfin Financial (UK) Ltd, a company authorised and regulated by the Financial Conduct Authority (with reference no. 552894) and registered in England and Wales (with company number 07431519).

Copyright © 2020 Dolfin Financial (UK) Ltd. All rights reserved.

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