FUNDS REGISTERED FOR SALE IN PORTUGAL

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This site is solely aimed at investors having their registered office or domicile in Portugal (the “Portuguese Investor(s)”).

The purpose of this site is solely to present information on Undertakings for the Collective Investment in Transferable Securities (the “UCITS”) managed by Lazard Frères Gestion and distributed in Portugal.

These UCITS are approved for distribution in Portugal by the Comissão do Mercado de Valores Mobiliários (the “CMVM”).

The UCITS are not intended for distribution to investors who are domiciled or have their registered office in any country or jurisdiction where any investment in the UCITS would be unlawful or unauthorized.

In particular, the UCITS are not and will not be registered in the United States under the U.S. Securities Act 1933 as modified (the “Securities Act”) or pursuant to any laws of the United States and, therefore, may not be offered or sold in the United States to Restricted Persons, as defined hereafter.

A Restricted Person is (i) any person or entity located in the United States (including US residents), (ii) any corporation or any other entity subject to the laws of the United States or any state thereof, (iii) all US military personnel or any employee of a US government department or agency located outside the United States, or (iv) any other person that would be considered a US Person under Regulation S of the Securities Act of 1933, as amended.

The information or material referred to in this site are not intended to contain and should not be regarded as containing advice relating to legal, taxation or investment matters.

Investment in one or more of any UCITS is not riskless. Before making any decision, it is your responsibility to make sure that the considered investment fits your financial situation, experience, your investment goals and your risk sensitivity. We strongly invite you to consult with your own professional adviser as to suitability of such an investment for you regarding any legal, economic, or tax implications which may be relevant to the purchase, holding or disposal of units or shares in one or more UCITS.

Past performance is not indicative nor a guarantee of future results and should be analyzed with caution.

The value of your investment and any income is subject to market fluctuation. It can vary downward as well as upward, and the return upon investment can be variable.

The UCITS KIID, Prospectus, annual and semi-annual reports are available on this site and can be obtained free of charge at Lazard Frères Gestion SAS, 25, rue de Courcelles 75008 Paris, France.

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I HAVE READ AND UNDERSTOOD THESE TERMS AND CONDITIONS AND I CONFIRM THAT I AM A PORTUGUESE INVESTOR.