JB Drax Honoré is authorised by the Banque de France and the Autorité des Marchés Financiers in France for investment business in France and is regulated by the Financial Services Authority for the conduct of UK Business to provide investment services to qualified investors. This is neither an offer to sell nor a solicitation to invest. Past performance is not indicative of future results. The value of investments and any income generated may go down as well as up and is not guaranteed. No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained in this document by any of its partners or employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions