Legal Information

By entering the website (the "Site") of HedgePath Capital, LLC (collectively "HedgePath" or "We," "Us," or "Our"), you accept and agree to follow the terms and conditions described in these Terms of Use ("Terms of Use"). These Terms of Use are a binding agreement between you and HedgePath, and governs your access and use of the Site, which includes any information, data, tools, products, services and other content (together, "Content") available on or through the Site. You may contact HedgePath at the address provided below with questions about the terms and conditions of these Terms of Use.

PLEASE READ THESE TERMS OF USE CAREFULLY BEFORE ENTERING THE SITE. EACH TIME YOU ENTER THE SITE, YOUR USE INDICATES YOUR FULL ACCEPTANCE OF AND AGREEMENT TO ABIDE BY THESE TERMS OF USE IN THEIR THEN CURRENT FORM. IF YOU DO NOT ACCEPT THE TERMS AND CONDITIONS STATED IN THESE TERMS OF USE, PLEASE EXIT THE SITE.

1. Limited License to Use the Site

The Site is owned by HedgePath and its affiliates. The Site and the Content may be protected by one or more copyrights, patents, database rights, trademarks, servicemarks and/or other intellectual property and proprietary rights that are owned by HedgePath, its affiliates and/or third parties.

HedgePath grants you a limited right to use the Site only for your own private, non-commercial informational purposes only, and to print pages from the Site only in connection with that use. You may not modify, distribute, transmit, perform, reproduce, publish, license, create derivative works from, transfer or sell any Content, including any text, graphics, logos and other source-identifying symbols, designs, icons, images, or other information, software or code obtained from the Site. You are prohibited from removing any copyright, trademark or other proprietary notice or legend contained on (or printed from) the Site or on any printed pages. In addition, you are prohibited from decomposing, decompiling, reverse engineering, disassembling or otherwise deconstructing all or any portion of the Site.

Any data that you transmit to the Site (including without limitation personally identifiable information) becomes the property of HedgePath and may be used by HedgePath for any lawful purpose without restriction, subject to the Privacy Policy.

All Content on the Site is meant to be reviewed in its entirety, including any footnotes, legal disclaimers, restrictions or disclosures, and any copyright or proprietary notices. Any disclaimers, restrictions or disclosures apply to any partial document or material in the same manner as they do the whole, and will be deemed incorporated in the portion of any material or document that you consult or download.

Your continuing right to use the Site is subject to your agreement to abide by these Terms of Use in their entirety, as well as any other rules, procedures, policies, terms or conditions that govern all or any portion of the Site. At any time and for any reason we may revoke your right to use all or any portion of the Site.

2. No Offer of Securities

HedgePath and its affiliates manage funds for high net worth families, funds and institutions. Nothing on the Site or in these Terms of Use shall be construed (i) as an offer to sell securities, a recommendation regarding any securities, or a solicitation of an offer to buy securities in any HedgePath fund; or (ii) as an offer by HedgePath to act as an investment advisor for any person. All such offers may be made only to privately solicited investors who have been pre-qualified as to both investment suitability and net worth, including qualifying as accredited investors within the meaning of the Securities Act of 1933, as amended, after delivery of required disclosure documents and offering memoranda, and only in such jurisdictions in which such an offer would be lawful.

3. No Reliance

All Content provided on the Site is for informational purposes only.

Any estimates, projections or predictions on the Site are intended to be forward-looking statements. Although HedgePath believes that the expectations in such forward-looking statements are reasonable, it can give no assurance that any forward-looking statements will prove to be correct. Such estimates are subject to actual known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those projected. HedgePath expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in its expectations or any change in circumstances upon which such statement is based.

No statements contained on the Site should be construed as a guarantee or assurance of future performance or future results. HedgePath’s past performance is not indicative of future results.

There are various risks you assume when reviewing the Content on the Site.

Dated Content speaks only as of the date indicated. We may modify the Content on the Site at any time and without notice to you.

We make reasonable efforts to provide accurate Content, but at times we may not promptly update or correct the Site even if we are aware that it is inaccurate, outdated or otherwise inappropriate. In addition, we do not endorse the opinions of, or warrant the accuracy of facts or other content contributed by, any third party.

You agree that we are not liable for any action you take or decision you make in reliance on any content on the Site.

The Content on the Site is not intended to be, and you should not consider anything on the Site to be, investment, accounting, tax or legal advice. You are encouraged to discuss information that you learn from the Site with your financial, legal or tax advisors and others with whom you share investment decisions.

4. Your Representatives and Warranties

You represent and warrant that you have full authority and all rights necessary to enter into and fully perform all of your obligations pursuant to these Terms of Use.

You represent and warrant that you have not and you will not enter into any agreement or perform any act which might contravene the purposes and/or effects of these Terms of Use.

You represent and warrant that you will not delete any Content from the Site.

5. Passwords

Certain portions of the Site are password protected and the content of such areas are subject to the confidentiality provisions of the respective HedgePath fund documents. By entering those portions of the Site you are agreeing to be bound by the confidentiality provisions of the respective fund documents.

If you are provided a password by HedgePath, you must keep your password confidential.

You may not disclose your password to any third party without obtaining the express approval of HedgePath.

You accept full responsibility for any use of your password.

You agree to notify HedgePath immediately of any actual or suspected loss, theft or unauthorized use of your password.

Without limiting the generality of any other disclaimers in these Terms of Use, HedgePath is not responsible for any loss to you that arises from such use or action or from your failure to comply with these provisions regarding maintaining the security and confidentiality of your password.

6. Third Party Links

HedgePath is not responsible for information on any third party website that is referred in, or accessible or connected by hyperlink to, the Site.

If you access any third party website through the Site or otherwise, you do so at your own risk.

Hyperlinks to or from the Site do not constitute third party endorsement of, sponsorship by or affiliation with us.

7. No Warranty

HEDGEPATH DISCLAIMS ALL WARRANTIES WITH RESPECT TO THE SITE THAT THE LAW ALLOWS IT TO DISCLAIM.

THE SITE IS PROVIDED "AS IS" AND "AS AVAILABLE."

WE DISCLAIM ALL REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, OF ANY KIND WITH RESPECT TO THE SITE INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT OF INTELLECTUAL PROPERTY AND PROPRIETARY RIGHTS.

WITHOUT LIMITING OUR GENERAL DISCLAIMER, WE DO NOT WARRANT THE AVAILABILITY, ACCURACY, COMPLETENESS, TIMELINESS, FUNCTIONALITY, RELIABILITY, SEQUENCING OR SPEED OF DELIVERY OF THE SITE OR ANY PART OF THE CONTENT.

HEDGEPATH'S LIABILITY WITH RESPECT TO THE SITE IS LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.

8. Limitation of Liability

IN NO EVENT SHALL HEDGEPATH, ITS AFFILIATES, OR THEIR OFFICERS, DIRECTORS, PRINCIPALS, AGENTS AND EMPLOYEES BE LIABLE FOR ANY CLAIMS, LIABILITIES, LOSSES, COSTS OR DAMAGES, INCLUDING INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE THE SITE OR WITH ANY DELAY OR TECHNICAL PROBLEMS IN USING THE SITE, OR ANY INFORMATION AND MATERIALS OBTAINED THROUGH THE SITE, OR OTHERWISE ARISING OUT OF THE USE OF THE SITE; IN ANY CASE WHETHER BASED ON THEORIES ARISING IN CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE. SUCH LIMITATIONS APPLY EVEN IF HEDGEPATH, ITS AFFILIATES, OR ANY OF THEIR OFFICERS, DIRECTORS, PRINCIPALS, AGENTS OR EMPLOYEES HAVE BEEN ADVISED OF THE POSSIBILITY OF DAMAGES. SOME STATE AND/OR FEDERAL LAWS LIMIT THE APPLICABILITY OF DISCLAIMERS OR LIMITATIONS OF LIABILITY, IN WHICH CASE SUCH LIMITATIONS SHALL APPLY ONLY TO THE EXTENT LEGALLY ENFORCEABLE IN THE APPLICABLE JURISDICTION.

9. Breach and Indemnification

You will be responsible for any liability to HedgePath that arises out of your breach of these Terms of Use or your use of the Site.

You agree to indemnify, defend and hold harmless HedgePath and its affiliates, agents, employees and third party sources from and against any and all suits, losses, claims, demands, liabilities, damages, costs and expenses (including reasonable attorneys' fees) that arise from or relate to: (i) your use of the Site (ii) your breach of these Terms of Use or any representation, warranty or covenant made by you in these Terms of Use, (iii) your violation of any applicable law, statute, ordinance, regulation or of any third party's rights, or (iv) claims asserted by third parties which, if proven, would place you in breach of representations, warranties, covenants or other provisions contained in these Terms of Use.

10. Updates to the Sites and Modifications to the User Agreement

You acknowledge that HedgePath may update the Site and its contents, and may modify the terms of these Terms of Use at any time. Modifications to these Terms of Use will be effective immediately upon posting unless we indicate otherwise. You agree to review periodically the terms of these Terms of Use.

By entering any of the Site you agree to and fully accept these Terms of Use in its then current form each time you enter the Site.

11. General

These Terms of Use shall be governed by and construed under the laws of the state of California, without regard to its choice of law rules. Any legal action brought hereunder shall be brought exclusively in the courts in Los Angeles, California, and it is agreed that such courts shall have jurisdiction over the parties to this agreement and any dispute arising hereunder. You agree to not use the Site or any portion of the Site in violation of U.S. export regulations. You are responsible for adhering to all relevant local and national laws wherever you are.

HedgePath may monitor and record activity on the Sites and respond in compliance with our Privacy Policy as we deem appropriate.

Any notice to HedgePath shall be to the Investor Relations Department, at IR@hedgepathcapital.com.

If any provision of these Terms of Use is held to be invalid or unenforceable in any jurisdiction, such provision shall be deemed modified to the minimum extent necessary so that such provision shall no longer be held to be invalid or unenforceable, and these Terms of Use shall be interpreted so as to achieve the intent expressed herein to the greatest extent possible in the jurisdiction in question. Any such modification, invalidity or unenforceability shall be strictly limited both to such provision and to such jurisdiction.

HedgePath has the right in its sole discretion to restrict, suspend or terminate your access to all or any part of the Site at any time, for any or no reason, with or without prior notice and without liability.

We at HedgePath Capital, LLC (collectively "HedgePath" or "We," "Us," or "Our"), have created this Privacy Policy to explain how we collect, use and share information we obtain through our websites located at www.hedgepathcapital.com (the "Site"), as well as Internet services that we offer (together, the "Internet Services"). Except as described in Section 5, this Privacy Policy does not govern our use of any information you provide to us when you call us, write to us, or communicate with us in any manner other than through the Internet Services. Because the Internet is global, information about you that we collect or that you submit may be transferred to, processed in, and held in countries (including the United States) other than the one in which you reside. By using the Internet Services you explicitly consent to such use of your information and agree to the terms of this Privacy Policy. This Privacy Policy was updated as of August 2012.

1. Information You Choose to Submit

To obtain access to the Sites and to receive certain Internet Services, you may be required to login and provide certain personal data and information about yourself (for example your username, name, and password.) ("Personal Data"). We use Personal Data to fulfill your requests for Internet Services, as well as other products and services (together, the "Services"), to monitor and improve our Services, and to contact you from time to time about us and the Services.

2. Information We Automatically Collect, including through use of Cookies

We automatically collect certain information to help us understand how you use the Internet Services (which we will refer to in this Privacy Policy collectively as "Usage Data"). For example, each time you visit the Sites we may automatically collect your IP address, browser and computer type, access time, the webpage from which you came, and the webpage(s) that you access during your visit.

WE MAY COMBINE USAGE DATA WITH PERSONAL DATA IN A MANNER THAT ENABLES US TO TRACE USAGE DATA TO AN INDIVIDUAL USER.

We also may use cookies (which are small amounts of data sent from a web server to your browser that are stored on your computer’s hard drive) to keep track of your use of the Internet Services, to validate your identity, to remember your password and preferences, to tailor the Internet Services to your account and to meet your interests, and to improve the quality of the Internet Services. Generally, you can set your browser not to accept cookies or to notify you if you are sent a cookie, giving you the opportunity to choose whether or not to accept the cookie. Please note that if you do set your browser not to accept cookies, certain Internet Services may not function properly. We do not knowingly collect information from minors nor do we target the Site to minors.

3. Our Information Sharing Practices

Generally. Except as otherwise described in this section of our Privacy Policy, we will not share your Personal Data or Usage Data (which we will refer to in this Privacy Policy collectively as "User Information") with any third party without your permission.

Third-Party Service Providers. We employ other companies and individuals to perform functions on our behalf, such as for analyzing data and providing certain of the Internet Services. These third-party service providers have access to personal information needed to perform their functions, but we require that they not use personal information for other purposes. Personal data is not shared with any unaffiliated third-parties for their marketing purposes.

Other Disclosure Scenarios. Notwithstanding anything in this Privacy Policy to the contrary, we reserve the right, and you hereby expressly authorize us to, share any User Information: (1) in response to subpoenas, court orders, regulatory requests or legal process, or to establish, protect, or exercise our legal rights and interests or defend against legal claims; (2) if we believe it is necessary in order to investigate, prevent, or take action regarding inappropriate or illegal activities, fraud, or situations involving potential threats to the safety of any person or property; (3) if we believe it is necessary to investigate, prevent, or take action regarding abuse of the Site infrastructure or the Internet in general (such as voluminous spamming, denial of service attacks, or attempts to compromise the security of information); (4) to our parent company, subsidiaries, joint ventures, or other companies under common control with us (in which case we will require such entities to honor this Privacy Policy); (5) as part of a corporate transaction with a successor or affiliate or in connected with any acquisition, merger, or sale of assets; or (6) with third parties who provide services to us; provided, however, that in those circumstances we request that our service providers not share your User Information in a manner inconsistent with this Privacy Policy.

4. Modifying and Deleting Your Personal Data

If you would like to modify any Personal Data you previously submitted to us, please let us know by contacting us or by accessing and updating your profile. Please note that any Personal Data that we have copied may remain in back-up storage for some period of time after your request, and that if you delete certain information you may not be able to use our services in the future without re-submitting such information. Also, please note that we will maintain Personal Data in our database whenever we are required to do so by law.

5. SEC Regulations S-P, S-AM and the Gramm-Leach-Bliley Act - PRIVACY NOTICES

The Securities and Exchange Commission and the Federal Trade Commission have adopted rules that require financial institutions, like HedgePath, to provide privacy policy notices to their clients. HedgePath believes that protecting the privacy of current, former and prospective investors and their personal information is of the utmost importance and we are fully committed to maintaining the privacy of such information in our possession. In accordance with these rules, we are providing current and prospective investors with the following information:

HedgePath collects nonpublic personal information about current and prospective investors from the following sources: (i) information we receive from current and prospective investors on managed account agreements or subscription documents and related forms (for example, name, address, social security number, birth date, assets, income, investment experience); (ii) information about investor's transactions with HedgePath; and (iii) the Internet Services. We restrict access of current, former and prospective investors' nonpublic personal information to our affiliates and their personnel, counsel and auditors who need to know that information in order to (i) ensure compliance with applicable laws and regulations, (ii) provide products or services to the investors, or (iii) as otherwise required by law. HedgePath maintains physical, electronic and procedural controls in keeping with federal standards to safeguard the nonpublic personal information about current, former and prospective investors that is in our possession.

Nonpublic personal information is not shared with third-parties for their marketing purposes

If, at any time in the future, it is necessary to disclose any of a client's personal information in a way that is inconsistent with this policy, HedgePath will give advance notice of the proposed change so that its clients will have the opportunity to "opt out" of such disclosure.

6. Security

We have implemented reasonable measures to help protect your User Information from loss, misuse, or unauthorized access or disclosure. Unfortunately, however, no data transmission over the Internet can be guaranteed to be 100% secure. As a result, while we strive to protect your User Information, we cannot guarantee its security.

7. Links

The Site may contain links to other websites. We are not responsible for the privacy practices of any such other website (whether accessed through an advertisement, service, or content link) and urge you to review such practices prior to submitting any information to such websites.

8. Changes

We may update this Privacy Policy from time to time. If under any such update we make any material change to the way in which we treat your User Information, we will inform you of such change via e mail or by posting a notice on relevant areas of the Site. Any updated version of this Privacy Policy will be effective as of the date set forth therein.

9. International Data Transfers

In order to use and disclose your personal data for the purposes described above such personal data will be transferred internationally, including from the European Economic Area to the U.S. and other countries which the European Union has deemed do not provide “adequate” protection for personal information. We will ensure application of the same standards of privacy protection as set out in this privacy policy regardless of the international transfer or processing of personal data. By providing us your personal data and using this website, you consent to such international transfers of personal data, as we deem appropriate, including transfers from the European Economic Area to the U.S. and other countries, which the European Union has deemed not to provide “adequate” protections for personal data.

10. Questions

If you have any questions about this Privacy Policy, please feel free to contact us by e-mail at to IR@hedgepathcapital.com.