Responsibility according to §§ 6, 10 MSTV and 5 TMG

Fidecum AG,

Kaiser-Friedrich-Promenade  65,

61348 Bad Homburg v. d .H.,


Phone: +49 (0) 6172 / 6826 513


Management Board:

Andreas Czeschinski, Klaus Kämmerer, Hans-Peter Schupp

Head of supervisory board: Karl-Heinz Arnold


District Court:

Amtsgericht Bad Homburg HRB 10965

Tax Registration Number:

003 233 18066


Bundesanstalt für Finanzdienstleistungsaufsicht,

Lurgiallee 12,

60439 Frankfurt am Main,


Phone: +49 (0) 228 / 4108 4317



1. Content of online offer

Neither up-to-dateness nor accuracy nor completenes nor any kind of quality of the content of these pages are guaranteed by the author. Under no circumstances, liability claims against the author due to material or non- material damage, will be accepted, may those be caused by the use or non-use of information provided or by the use of inaccurate or incomplete information, except for deliberate or grossly negligent conduct. All services or products offered are subject to change and non-binding. The author reserves the right to change or amend the content of the information provided entirely or in part, to remove information entirely or in part, temporarily or permanently, at any time and without prior notice.


2. Relevant investors

The content of these internet pages have been provided solely for the use of investors or advisors, who are considered to be market professionals according to the 4th EU-Directive (2004/39/EC) and who are residents in Germany, and who are in no way barred from purchasing fund(s) mentioned, be it because of their nationality or their country of origin, sojourn or residence.

Any information or offering provided addresses solely those investors or advisors mentioned above and is exclusively constrained to the territory of the Federal Republic of Germany. In particular, the information contained does not represent an offer for subscription or purchasing, or the  marketing for an offer of subscription or purchasing for U.S.-citizens (according to the definition for those individuals provided by the respectively selling prospectus in conjunction with the relevant U.S. rules and regulations). Furthermore, the content of these pages does not address territory outside the Federal Republic of Germany.

3. No investment advice, notice of risks attached

Fidecum simply publishes exclusive information regarding the product(s) and explicitly does not engage in providing investment advice, that may reflect on the individual financial situation of a customer and explicitly does not offer individual investment advice.

Employees or representatives of the company sporadically speak in public about certain listed securities. Should these comments be positive, the public has to assume that we are either as a company or individually, for our clients as advisors or as managers of our investment fund(s), direct or in-direct investors in the company mentioned.  A positive share price development pursuant to comments of this kind thus can increase the value of the fortune of our employees or of our customers. Usually, employees and representatives of the company are invested in our fund(s). In addition, they are entitled to invest in listed securities individually, within the boundaries of our compliance rules and regulations. According to our view, each and every single investment activity should be accompanied by screening publicly available information (e.g. investment prospectus and annual report) prior to the investment. Investments solely on the basis of recommendations in the press or media we do consider negligent. We do recommend to stay away from investments of this kind.

Price developments in the past can not be extrapolated into the future and are by no means a guarantee for future returns. The value of shares varies and there will not be a price guarantee. Investors are notified, that funds investing into small-cap companies do operate in markets, which may turn out unstable and in turn may limit the opportunities to sell securities at a given time. A more detailed definition of the risks attached for a given fund is provided in the fund prospectus.


4. Links, short cuts

In the case of direct or indirect links to third-party internet pages which are outside the area of responsibility of the author, a liability for damages caused might only be accepted, if the author is proven to have known about the content of those pages and have technically had the opportunity to prevent the use of unlawful content. The author explicitly declares that at the time of implementing a link those pages linked or their content were not against the law. The author cannot take influence on the actual or future appearance of linked pages.atter, the author neither takes any responsibility for the content of those pages linked and that have 5. Copy rights

The author intends to respect the copy rights of third party documents used (be it charts, audio tapes, video tapes and text documents), and will use proprietary documents of that kind or documents of the public domain, where applicable.

Whenever the content of these pages refers to third party products or services, we do respect that these products and services may be protected by a registered trademark and are exclusively governed by those trademarks resp. the jurisdiction of the relevant or applicable law, and that those products or services remain the property of a third party. Even if the content does not refer to a protection by trademark of products or services of this kind it cannot be assumed that such a protection by trade mark does exist. The author claims intellectual property and the copyright for the entire content which has been provided by the author. The publication or use of charts, audio tapes, video tapes and text in other electronic or print media is prohibited unless explicit permission has been obtained from the author prior to use or publication.


5. Links and dissociation from external links

In its judgment of 12.03.1998 - 312 0 85/98 "Liability for Links" - the Regional Court (LG) of Hamburg ruled that by placing a link on one's website, one may also be responsible for the contents of the linked page. According to the LG, this can only be prevented by explicitly distancing oneself from these contents (

"We hereby expressly distance ourselves from all contents of all externally linked pages on this website. This statement applies to all external links placed on this website."

Fidecum AG is not responsible for the content of a page that is reached by such a link from its own company homepage Fidecum AG reserves the right to make changes or additions to the information provided without prior notice. Rights to texts and image materials are the sole property of the author.


6. Obligation of secrecy

Should these internet pages offer the opportunity to input personal or business related data (such as e-mail addresses, names, addresses etc.), these data are provided by the user of these pages voluntarily  The use of all services offered and paying for those is permitted, and where applicable, even without revealing these personal data.


7. Severabiltiy clause

This disclaimer of warranty is an integral part of this internet offering to which you have been guided by direct link. Should parts of the content or certain phrases not or not any more comply with applicable law, the remaining part of this internet offering will still be governed by this disclaimer of warranty.


Renumeration principles (in German only)

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