The Dalton Asia Pacific L/S UCITS Fund’s objective is to seek long-term capital appreciation and to generate absolute returns through a diversified portfolio of long and short positions in equity and equity related securities with a focus on the Asia Pacific region. Dalton Investments (“Dalton”), which manages about $2.9bn in assets (as of 31 March 2022), emphasizes value investments; as such, its’ investment process is based on bottom-up fundamental analysis that follows 3 steps: screening for qualitative traits and historical valuation, in-depth research and onsite visits and final assessment by James Rosenwald, as Portfolio Manager of the Dalton Asia Pacific UCITS Fund. Dalton typically looks to go long deep value opportunities, notably through companies that display strong alignment of interest, and short companies with declining catalysts. Macro‐economic trends are also considered when allocating stocks between countries and sectors. Dalton’s edge also lies in their risk management, concentrating on capital preservation and focused on a longer term investment perspective.
Long-term investment perspective
Strive for disciplined, bottom-up, value approach to long and short investing
Margin of safety and alignment of interests with shareholders sought within investments
On-the-ground local research teams (12 analysts in total) provide in-depth market analysis and global perspective
Exposure to companies with market caps in excess of $0.5bn and at least moderate trading volumes
Portfolio risk managed by employing position limits, adhering to stop‐loss guidelines, and managing gross and net exposures
Gross exposure: Maximum 200%
Net exposure: Maximum 80% of which the net long exposure to Japan and Greater China is limited to 70% with the maximum net long exposure to the remainder of the Asia Pacific region limited to 30%
Past performance is not an indicator of future performance.
Details
Strategy
Long/Short Equity focused on the Asia Pacific region (including Japan)
General Fund Guidelines
Value Investments: Dalton approaches investing with long-term disciplined, rigorous, bottom-up value analysis. Dalton searches for stocks based on factors including company’s intrinsic value, “margin of safety” and shareholders’ alignment of interests
Asia Including Japan: Dalton’s view is that Asia is transforming into one large market. Dalton believes their long-term experience investing in Japan has given them insight on how to identify potential value traps in Asian growth companies
The long book is diversified across market capitalization, industries, and countries and typically ranges from 30 to 60 positions
The short book is constructed for alpha generation, shorts not paired with specific long positions and is typically composed of 20 to 40 positions
Instruments & Geography
Investment universe comprised of equities and equity related securities listed or traded on recognised markets
Net exposure to Japan and Greater China is expected to be limited to 70% of the NAV with the rest of Asia (including India) limited to 30% of NAV
Philosophy
Markets are not always efficient: Opportunistically invest when Dalton’s analysis of intrinsic value is mismatched with current market prices
Invest with a margin of safety: Manage risk based on substantial market dislocations, while using limited borrowing
Focus on long-term: Focus on long-term performance rather than short-term market fluctuations to provide room for Dalton’s investments to compound at superior rates over time
Volatility is not risk: Risk defined as the permanent loss of capital. Volatility provides Dalton with the opportunity to deploy capital
Understand risk tolerance: Capital preservation is the first priority when Dalton believes that their analysis of current market valuations meet their requirements for a large margin of safety and potential significant upside
Dalton is strongly convinced that companies with superior ESG practices are symbiotic with their investment philosophy. As such, not only have they become a UN-PRI signatory, they have developed a robust ESG practice, allowing to assign an internal rating to every company considered for investment across a large number of aspects that are expected to participate in the improvement of intrinsic value and further support wealth creation for minority shareholders
Fund Facts
Legal Structure:
UCITS Sub-Fund of Irish ICAV
Umbrella Fund:
Lafayette UCITS ICAV
Fund Manager:
Dalton Investments INC
Passporting:
Approved in Germany, Italy, Spain, U.K., Ireland, France, Switzerland, Luxembourg, Belgium, Austria and Liechtenstein
Base Currency:
EUR
Other Currency Share Classes:
USD, GBP
Liquidity:
Daily
Dealing Deadline (Subscription):
1:00 p.m. Irish time 3 Business Days prior to the relevant Dealing Day
Dealing Deadline (Redemption):
1:00 p.m. Irish time 3 Business Days prior to the relevant Dealing Day
Settlement Date (Subscription):
11:59 p.m. Irish time 3 Business Days following the relevant Dealing Day
Settlement Date (Redemption):
Within 5 Business Days after the relevant Dealing Day
Key Professionals
James B. Rosenwald Portfolio Manager
James B. Rosenwald is Portfolio Manager for Dalton Investments’ Asian equities portfolios. He is a recognized authority in Pacific Rim investing with more than 30 years of investment experience. He formerly co-managed and founded Rosenwald, Roditi & Company, Ltd. (now known as Rovida Asset Management, Ltd.), which he established in 1992 with Nicholas Roditi. Mr. Rosenwald advised numerous Soros Group funds between 1992 and 1998. He commenced his investment career with the Grace Family at their securities firm, Sterling Grace & Co. Mr. Rosenwald holds an MBA from New York University and an AB from Vassar College. He is a CFA charterholder and a director of numerous investment funds. He is a member of the CFA Society of Los Angeles and the CFA Institute and is an Adjunct Professor of Finance at New York University’s Stern Business School.
Fund Share Class Details
ISIN code
BBG code
Inception
Mgmt Fee
Perf Fee
Early Bird *
B1
EUR
IE00BFXZM553
LDAPB1E ID
17.07.2013
0.75%
0.0%
Inst. Seeding
B2
EUR
IE00BFXZM884
LDAPB2E ID
30.08.2013
1.00%
10.0%
Institutional
B2
USD
IE00BFXZM777
LDAPB2U ID
11.08.2020
1.00%
10.0%
Institutional
B2
UN USD
IE00BKDX3X91
LAPUB2U ID
25.02.2020
1.00%
10.0%
Institutional
I
EUR
IE00BFXZMK04
LDAPUIE ID
19.05.2017
1.50%
15.0%
Private Wealth Mgmt
P
EUR
IE00BFXZMN35
LDAPUPE ID
28.02.2014
1.50%
15.0%
Private Wealth Mgmt
P
USD
IE00BFXZMM28
LDAPUPU ID
28.02.2014
1.50%
15.0%
Retail
A
EUR
IE00BFXZMC20
LDAPUAE ID
28.02.2014
2.50%
15.0%
Retail
A
USD
IE00BFXZMB13
LDAPUAU ID
14.11.2014
2.50%
15.0%
* Reference share classes used to report NAVs, Daily, MTD, YTD and LTD performances.
Extra-Financial Analysis & SFDR Classification
The Sub-Fund meets the classification of an Article 8 fund as it promotes environmental and social characteristics.
The Investment Manager evaluates and integrates certain ESG factors at multiple stages throughout the investment process. This is considered as an important element in contributing towards long-term investment returns and an effective risk-mitigation technique.
The Investment Manager believes its ESG-related research capabilities can help enhance portfolio relative performance, particularly in reducing exposure to countries, industries, and securities with material negative ESG risks. For more details on how ESG factors are integrated into the investment process please refer to http://www.daltoninvestments.com/sustainable-investment-philosophy/.
In accordance with the Taxonomy Regulation, an underlying investment of the Sub-Fund shall be considered as environmentally sustainable where its economic activity: (i) contributes substantially to one or more of the Environmental Objectives; (2) does not significantly harm any of the Environmental Objectives, in accordance with the Taxonomy Regulation; (3) is carried out in compliance with minimum safeguards, prescribed in the Taxonomy Regulation; and (4) complies with technical screening criteria established by the European Commission in accordance with the Taxonomy Regulation. It should be noted that the “do no significant harm” principle applies only to those investments underlying the Sub-Fund that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this Sub-Fund do not take into account the EU criteria for environmentally sustainable economic activities.
The Sub-Fund does not presently intend to be invested in investments that contribute to environmentally sustainable economic activities in accordance with the Taxonomy Regulation but may have incidental investment in Taxonomy aligned investments. Therefore, for the purpose of the Taxonomy Regulation, it should be noted that at any given time, the Sub-Fund may be invested in investments that do not take into account the EU criteria for environmentally sustainable economic activities.
Please refer to the section of the Prospectus entitled “Sustainable Finance Disclosure” for further information.
The Dalton Asia Pacific L/S UCITS Fund’s objective is to seek long-term capital appreciation and to generate absolute returns through a diversified portfolio of long and short positions in equity and equity related securities with a focus on the Asia Pacific region. Dalton Investments (“Dalton”), which manages about $2.9bn in assets (as of 31 March 2022), emphasizes value investments; as such, its’ investment process is based on bottom-up fundamental analysis that follows 3 steps: screening for qualitative traits and historical valuation, in-depth research and onsite visits and final assessment by James Rosenwald, as Portfolio Manager of the Dalton Asia Pacific UCITS Fund. Dalton typically looks to go long deep value opportunities, notably through companies that display strong alignment of interest, and short companies with declining catalysts. Macro‐economic trends are also considered when allocating stocks between countries and sectors. Dalton’s edge also lies in their risk management, concentrating on capital preservation and focused on a longer term investment perspective.
Long-term investment perspective
Strive for disciplined, bottom-up, value approach to long and short investing
Margin of safety and alignment of interests with shareholders sought within investments
On-the-ground local research teams (12 analysts in total) provide in-depth market analysis and global perspective
Exposure to companies with market caps in excess of $0.5bn and at least moderate trading volumes
Portfolio risk managed by employing position limits, adhering to stop‐loss guidelines, and managing gross and net exposures
Gross exposure: Maximum 200%
Net exposure: Maximum 80% of which the net long exposure to Japan and Greater China is limited to 70% with the maximum net long exposure to the remainder of the Asia Pacific region limited to 30%
Long/Short Equity focused on the Asia Pacific region (including Japan)
General Fund Guidelines
Value Investments: Dalton approaches investing with long-term disciplined, rigorous, bottom-up value analysis. Dalton searches for stocks based on factors including company’s intrinsic value, “margin of safety” and shareholders’ alignment of interests
Asia Including Japan: Dalton’s view is that Asia is transforming into one large market. Dalton believes their long-term experience investing in Japan has given them insight on how to identify potential value traps in Asian growth companies
The long book is diversified across market capitalization, industries, and countries and typically ranges from 30 to 60 positions
The short book is constructed for alpha generation, shorts not paired with specific long positions and is typically composed of 20 to 40 positions
Instruments & Geography
Investment universe comprised of equities and equity related securities listed or traded on recognised markets
Net exposure to Japan and Greater China is expected to be limited to 70% of the NAV with the rest of Asia (including India) limited to 30% of NAV
Philosophy
Markets are not always efficient: Opportunistically invest when Dalton’s analysis of intrinsic value is mismatched with current market prices
Invest with a margin of safety: Manage risk based on substantial market dislocations, while using limited borrowing
Focus on long-term: Focus on long-term performance rather than short-term market fluctuations to provide room for Dalton’s investments to compound at superior rates over time
Volatility is not risk: Risk defined as the permanent loss of capital. Volatility provides Dalton with the opportunity to deploy capital
Understand risk tolerance: Capital preservation is the first priority when Dalton believes that their analysis of current market valuations meet their requirements for a large margin of safety and potential significant upside
Dalton is strongly convinced that companies with superior ESG practices are symbiotic with their investment philosophy. As such, not only have they become a UN-PRI signatory, they have developed a robust ESG practice, allowing to assign an internal rating to every company considered for investment across a large number of aspects that are expected to participate in the improvement of intrinsic value and further support wealth creation for minority shareholders
James B. Rosenwald is Portfolio Manager for Dalton Investments’ Asian equities portfolios. He is a recognized authority in Pacific Rim investing with more than 30 years of investment experience. He formerly co-managed and founded Rosenwald, Roditi & Company, Ltd. (now known as Rovida Asset Management, Ltd.), which he established in 1992 with Nicholas Roditi. Mr. Rosenwald advised numerous Soros Group funds between 1992 and 1998. He commenced his investment career with the Grace Family at their securities firm, Sterling Grace & Co. Mr. Rosenwald holds an MBA from New York University and an AB from Vassar College. He is a CFA charterholder and a director of numerous investment funds. He is a member of the CFA Society of Los Angeles and the CFA Institute and is an Adjunct Professor of Finance at New York University’s Stern Business School.
The Sub-Fund meets the classification of an Article 8 fund as it promotes environmental and social characteristics.
The Investment Manager evaluates and integrates certain ESG factors at multiple stages throughout the investment process. This is considered as an important element in contributing towards long-term investment returns and an effective risk-mitigation technique.
The Investment Manager believes its ESG-related research capabilities can help enhance portfolio relative performance, particularly in reducing exposure to countries, industries, and securities with material negative ESG risks. For more details on how ESG factors are integrated into the investment process please refer to http://www.daltoninvestments.com/sustainable-investment-philosophy/.
In accordance with the Taxonomy Regulation, an underlying investment of the Sub-Fund shall be considered as environmentally sustainable where its economic activity: (i) contributes substantially to one or more of the Environmental Objectives; (2) does not significantly harm any of the Environmental Objectives, in accordance with the Taxonomy Regulation; (3) is carried out in compliance with minimum safeguards, prescribed in the Taxonomy Regulation; and (4) complies with technical screening criteria established by the European Commission in accordance with the Taxonomy Regulation. It should be noted that the “do no significant harm” principle applies only to those investments underlying the Sub-Fund that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this Sub-Fund do not take into account the EU criteria for environmentally sustainable economic activities.
The Sub-Fund does not presently intend to be invested in investments that contribute to environmentally sustainable economic activities in accordance with the Taxonomy Regulation but may have incidental investment in Taxonomy aligned investments. Therefore, for the purpose of the Taxonomy Regulation, it should be noted that at any given time, the Sub-Fund may be invested in investments that do not take into account the EU criteria for environmentally sustainable economic activities.
Please refer to the section of the Prospectus entitled “Sustainable Finance Disclosure” for further information.
Access to the products presented on this website may be subject to restrictions regarding certain investor profiles and / or countries.
REMINDER OF COUNTRIES HAVING AUTHORIZED PASSPORTING
Information about products described in this website is exclusively dedicated to sophisticated prospective, institutional or qualified investors in jurisdictions where distributing these products would not be contrary to local laws and regulations.
Please find here below a list of the “Passporting” status of the products for which information is provided on this website:
NO OFFER
None of the information contained in this website constitutes a solicitation or offer by Longchamp Asset Management to buy or sell any securities, futures, options or other financial instruments or to participate in any other strategy. Information about products described in this website is exclusively dedicated to sophisticated prospective, professional clients or institutional or qualified investors in jurisdictions where distributing these products would not be contrary to local laws and regulations. Pricing and other information generated through the use of data made available herein may not reflect actual prices or values that would be available in the market at the time provided or at the time that the user may want to purchase or sell a particular security or other instrument. Information contained in the website does not constitute an offer to buy any securities in any jurisdiction in which such distribution or offer is not authorized or where they are not available for distribution in the jurisdiction of the reader of this information. In particular, the information in the Website is not for distribution in the United States.
SELLING RESTRICTIONS
No offering of the products described on this website, or possession or distribution of any offering material in relation thereto, is permitted in any jurisdiction unless in compliance with all applicable laws, regulations, codes, directives, orders and/or regulatory requirements, rules and guidance in force.
The products described in this website may be subject to restrictions with regard to (i) persons or (ii) countries under national regulations. As a visitor of this website, it is your responsibility to be aware of and to respect all applicable laws and regulations. The visitor of this website should make its own assessment to invest into any product presented in this website.
Any securities referred to on this website, or any offering material in relation thereto, will not be registered under the Securities Act.
This Website is not directed to persons who are residents of the United States or to any country where the presented Funds are not authorised for distribution or in which the dissemination of information regarding the presented Funds on the World Wide Web is not permitted.
The products described on this website may not be offered, sold, transferred or delivered directly or indirectly in the United States to, or for the account or benefit of, any U.S. Person (as defined in Regulation S under the Securities Act).
Should an Internet Protocol resolution search indicate that your access to this website is coming from the United States, it is therefore subject to certain restrictions. The securities on this website have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered within the United States or to or for the account of U.S persons. Please contact us, should you evaluate this information is incorrect, and for any further information request.
The information contained in the website is for information purposes only and is not an offer (or solicitation of an offer) to buy/sell or borrow/lend the securities mentioned or to participate in any particular trading strategy.
By clicking this box, I expressly acknowledge and confirm that I am not a U.S. Person (as defined in Regulation S of the U.S. Securities Act of 1933, as amended), nor am I acting on behalf of a U.S. Person.
OFFERING CIRCULAR OR PROSPECTUS An offering circular or prospectus (the “Offering Documents”) referring to a specific product will be available on this website. Potential investors should base any investment decision they make solely on the basis of information contained in the Offering Documents and should read the information contained therein carefully, in particular the description of risk factors associated with any structured products. The products described on this website have been issued by Longchamp Asset Management or third party issuers. All information on this website and the Offering Documents with respect to any third party entity not affiliated with Longchamp Asset Management has been provided by, and is the sole responsibility of, such third party and has not been independently verified by Longchamp Asset Management or any other independent third party and Longchamp Asset Management accepts no liability for such information.
NO INVESTMENT ADVICE Information made available on this website should not be considered as investment advice or any form of personal recommendation to purchase products described thereon. Users should consult their independent financial or other applicable advisor(s) before investing in the products described on this website.
HISTORICAL PERFORMANCE
Past performance information contained on this website is not indicative of future results.
INDICATIVE PRICES
All prices or values are indicative only, and may vary significantly from executable prices or from prices obtained from elsewhere. Price and availability of the securities are subject to change without notice.
USE OF LINKS
This website contains links to third party websites. These links are provided only as a convenience. The inclusion of any link is not and does not imply an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by Longchamp Asset Management of any information contained in any third party website. In no event shall Longchamp Asset Management be responsible for the information contained on that site or your use of or inability to use such site. You should also be aware that the terms and conditions of such site and the site’s privacy policy may be different from those applicable to your use of this website.
LIMITATION OF LIABILITY
Neither Longchamp Asset Management, nor any of its affiliates, directors, officers or employees, will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this website, or resulting from interception by third parties of any information or services made available to you via this website or the act or omission of any other party involved in making this website, the data contained herein or the products or services offered on this website available to you, or from any other cause relating to your access to, inability to access, or use of the website or these materials, whether or not the circumstances giving rise to such cause may have been within the control of Longchamp Asset Management.
Neither Longchamp Asset Management, nor any of its affiliates, directors, officers or employees, will be liable or have any responsibility of any kind for any loss or damage that you incur if you use a link to this site. Longchamp Asset Management shall prohibit anyone from creating such a link without its prior express authorization.
In no event will Longchamp Asset Management or any such parties be liable to you, whether in contract or tort, for any direct, special, indirect, consequential or incidental damages or any other damages of any kind even if Longchamp Asset Management or any other such party has been advised of the possibility thereof. This limitation on liability includes, but is not limited to, the transmission of any viruses which may infect a user’s equipment, failure of mechanical or electronic equipment or communication lines, telephone or other interconnect problems (e.g., you cannot access your internet service provider), unauthorized access, theft, operator errors, strikes or other labor problems or any force majeure.
To continue your navigation, please select your investor type:
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Terms Of Use
Access to the products presented on this website may be subject to restrictions regarding certain investor profiles and / or countries.
REMINDER OF COUNTRIES HAVING AUTHORIZED PASSPORTING
Information about products described in this website is exclusively dedicated to sophisticated prospective, institutional or qualified investors in jurisdictions where distributing these products would not be contrary to local laws and regulations.
Please find here below a list of the “Passporting” status of the products for which information is provided on this website:
NO OFFER
None of the information contained in this website constitutes a solicitation or offer by Longchamp Asset Management to buy or sell any securities, futures, options or other financial instruments or to participate in any other strategy. Information about products described in this website is exclusively dedicated to sophisticated prospective, professional clients or institutional or qualified investors in jurisdictions where distributing these products would not be contrary to local laws and regulations. Pricing and other information generated through the use of data made available herein may not reflect actual prices or values that would be available in the market at the time provided or at the time that the user may want to purchase or sell a particular security or other instrument. Information contained in the website does not constitute an offer to buy any securities in any jurisdiction in which such distribution or offer is not authorized or where they are not available for distribution in the jurisdiction of the reader of this information. In particular, the information in the Website is not for distribution in the United States.
SELLING RESTRICTIONS
No offering of the products described on this website, or possession or distribution of any offering material in relation thereto, is permitted in any jurisdiction unless in compliance with all applicable laws, regulations, codes, directives, orders and/or regulatory requirements, rules and guidance in force.
The products described in this website may be subject to restrictions with regard to (i) persons or (ii) countries under national regulations. As a visitor of this website, it is your responsibility to be aware of and to respect all applicable laws and regulations. The visitor of this website should make its own assessment to invest into any product presented in this website.
Any securities referred to on this website, or any offering material in relation thereto, will not be registered under the Securities Act.
This Website is not directed to persons who are residents of the United States or to any country where the presented Funds are not authorised for distribution or in which the dissemination of information regarding the presented Funds on the World Wide Web is not permitted.
The products described on this website may not be offered, sold, transferred or delivered directly or indirectly in the United States to, or for the account or benefit of, any U.S. Person (as defined in Regulation S under the Securities Act).
Should an Internet Protocol resolution search indicate that your access to this website is coming from the United States, it is therefore subject to certain restrictions. The securities on this website have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered within the United States or to or for the account of U.S persons. Please contact us, should you evaluate this information is incorrect, and for any further information request.
The information contained in the website is for information purposes only and is not an offer (or solicitation of an offer) to buy/sell or borrow/lend the securities mentioned or to participate in any particular trading strategy.
By clicking this box, I expressly acknowledge and confirm that I am not a U.S. Person (as defined in Regulation S of the U.S. Securities Act of 1933, as amended), nor am I acting on behalf of a U.S. Person.
OFFERING CIRCULAR OR PROSPECTUS An offering circular or prospectus (the “Offering Documents”) referring to a specific product will be available on this website. Potential investors should base any investment decision they make solely on the basis of information contained in the Offering Documents and should read the information contained therein carefully, in particular the description of risk factors associated with any structured products. The products described on this website have been issued by Longchamp Asset Management or third party issuers. All information on this website and the Offering Documents with respect to any third party entity not affiliated with Longchamp Asset Management has been provided by, and is the sole responsibility of, such third party and has not been independently verified by Longchamp Asset Management or any other independent third party and Longchamp Asset Management accepts no liability for such information.
NO INVESTMENT ADVICE Information made available on this website should not be considered as investment advice or any form of personal recommendation to purchase products described thereon. Users should consult their independent financial or other applicable advisor(s) before investing in the products described on this website.
HISTORICAL PERFORMANCE
Past performance information contained on this website is not indicative of future results.
INDICATIVE PRICES
All prices or values are indicative only, and may vary significantly from executable prices or from prices obtained from elsewhere. Price and availability of the securities are subject to change without notice.
USE OF LINKS
This website contains links to third party websites. These links are provided only as a convenience. The inclusion of any link is not and does not imply an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by Longchamp Asset Management of any information contained in any third party website. In no event shall Longchamp Asset Management be responsible for the information contained on that site or your use of or inability to use such site. You should also be aware that the terms and conditions of such site and the site’s privacy policy may be different from those applicable to your use of this website.
LIMITATION OF LIABILITY
Neither Longchamp Asset Management, nor any of its affiliates, directors, officers or employees, will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this website, or resulting from interception by third parties of any information or services made available to you via this website or the act or omission of any other party involved in making this website, the data contained herein or the products or services offered on this website available to you, or from any other cause relating to your access to, inability to access, or use of the website or these materials, whether or not the circumstances giving rise to such cause may have been within the control of Longchamp Asset Management.
Neither Longchamp Asset Management, nor any of its affiliates, directors, officers or employees, will be liable or have any responsibility of any kind for any loss or damage that you incur if you use a link to this site. Longchamp Asset Management shall prohibit anyone from creating such a link without its prior express authorization.
In no event will Longchamp Asset Management or any such parties be liable to you, whether in contract or tort, for any direct, special, indirect, consequential or incidental damages or any other damages of any kind even if Longchamp Asset Management or any other such party has been advised of the possibility thereof. This limitation on liability includes, but is not limited to, the transmission of any viruses which may infect a user’s equipment, failure of mechanical or electronic equipment or communication lines, telephone or other interconnect problems (e.g., you cannot access your internet service provider), unauthorized access, theft, operator errors, strikes or other labor problems or any force majeure.
To continue your navigation, please select your investor type:
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Fonctionnalité : Mémoriser la région et le pays sélectionnés
Analyse : Garder la trace de vos pages visitées et de l'interaction réalisée
Analyse : Garder une trace de votre emplacement et de votre région en fonction de votre numéro IP
Analyse : Garder une trace du temps passé sur chaque page
Analyse : Augmenter la qualité des données des fonctions statistiques
Ce site ne pourra pas
Publicité : Adapter l'information et la publicité à vos intérêts en fonction, par exemple, du contenu que vous avez visité auparavant. (Actuellement, nous n'utilisons pas de ciblage ou de cookies de ciblage)
Publicité : Recueillir des informations personnelles identifiables telles que le nom et l'emplacement
Ce site pourra
Essentiel : Mémorisation de votre paramètre d'autorisation de cookie
Essentiel : Autoriser les cookies de session
Essentiel : Rassembler les informations que vous avez entré dans un bulletin d'informations et d'autres formulaires de contact à travers toutes les pages
Essentiel : Garder une trace de ce que vous avez mis dans votre panier d'achat
Essentiel : Authentifier que vous êtes connecté à votre compte utilisateur
Essentiel : Mémoriser la version linguistique que vous avez sélectionnée
Fonctionnalité : Mémorisation des paramètres des médias sociaux
Fonctionnalité : Mémorisation de la région et du pays sélectionnés
Analyse : Garder la trace de vos pages visitées et de l'interaction réalisée
Analyse : Garder une trace de votre emplacement et de votre région en fonction de votre numéro IP
Analyse : Garder une trace du temps passé sur chaque page
Analyse : Augmenter la qualité des données des fonctions statistiques
Publicité : Adapter l'information et la publicité à vos intérêts en fonction, par exemple, du contenu que vous avez visité auparavant. (Actuellement, nous n'utilisons pas de ciblage ou de cookies de ciblage)
Publicité : Recueillir des informations personnelles identifiables telles que le nom et l'emplacement