ABP Invest Limited research serves solely for information purposes with regard to the development and impact of general macroeconomic and geopolitical data and does not constitute or implicitly substitute a personal recommendation or advice to existing or potential investors for the purchase, sale, subscription, redemption, exchange, retention of a specific financial instrument or the exercise of any right a specific financial instrument grants for the purchase, sale, subscription, exchange or redemption of a financial instrument and thus, it cannot be considered as provision of “investment advice”.  ABP Invest, its directors and employees, do not undertake, regardless from the circumstances, any liability for any investment strategy, transaction or investment pursued on the basis of ABP Invest Limited research.

Any data or information provided is for illustrative purposes only and does not represent investment advice or recommendation.  The information discusses general market activity or industry trends and should not be construed as investment advice. The economic and market forecasts presented reflect our judgment as at the date shown and are subject to change without notice. These forecasts will be affected by changes in interest rates, general market conditions and other political, social and economic developments. There can be no assurance that these forecasts will be achieved. Investors are not certain to make profits; losses may be made.

ABP Invest Limited research does not constitute an investment strategy proposal addressed to the public.  Every possible effort has been made for the purposes of drafting based on trustworthy sources and information, in no case though, ABP Invest Limited, its directors and employees warrant, represent or guarantee explicitly or implicitly and/or assume any liability for the accuracy, completeness or correctness of such information and, thus, shall not be responsible for any loss or damage arising from the use of ABP Invest Limited research including as a result of decisions made or actions taken in reliance upon or in connection with the information contained. Any opinions, forecasts or estimates herein constitute a judgment as at the date of the research based on the information available. This information is subject to change without notice, the content of  ABP Invest Limited research may be amended at any time at the discretion of ABP Invest, its accuracy is not guaranteed, it may be incomplete or condensed and it may not contain all material information. There can be no assurance that future results or events will be consistent with any such opinions, forecasts or estimates.  ABP Invest Limited may have issued other research that are inconsistent with, and reach different conclusions from, the information presented here.

The information contained in this document is believed to be reliable but may be inaccurate or incomplete. Any opinions stated are honestly held but are not guaranteed and should not be relied upon. All communication is provided for general information only. It is not an invitation to make an investment nor does it constitute an offer for sale and is not a buy, sell or hold recommendation for any particular investment.

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