Terms of Use

All persons using the KLS Diversified Asset Management LP (“KLS”) website (the "Site") expressly agree to the following disclaimer as a pre-condition to using this Site for any purpose whatsoever. The materials on the Site including, without limitation, news articles, informational materials and all other manager-specific information, have been prepared for informational purposes only and do not constitute financial, legal, tax or any other advice. All information contained herein is provided "as is" and KLS expressly disclaims making any express or implied warranties with respect to the fitness of the information contained herein for any particular usage, its merchantability or its application or purpose. Prior to making any investment or hiring any investment manager you should consult with a professional financial advisor, legal and tax advisor to assist in due diligence as may be appropriate and determine the appropriateness of the risk associated with a particular investment. In no event shall KLS be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from use of this data.

By accessing the password-protected area of this Site, you agree not to invest in any posted hedge fund or alternative investment vehicle (other than hedge funds or alternative investment vehicles in which you or your affiliates are already invested, have already been solicited for or are already actively considering an investment in) for forty-five (45) days after the approval of your application. KLS reserves the right to terminate, at any time, any registered user's account with KLS (as well as access to the Site), without giving notice or a reason for such termination to the user.

Additionally, by accessing the password-protected area of this Site, you agree to immediately contact KLS if there is any change in your status as an "accredited investor" under Regulation D promulgated under Securities Act of 1933. For individuals such changes may include, for example, a registered user's net worth (excluding primary residence) declining below $1,000,000, an expectation that income for the next twelve months may total less than $200,000, or an expectation that the registered user's combined income with his or her spouse may total less than $300,000 in the next twelve months. All registered users, including individuals and entities, should communicate with their legal advisors if they believe that their status as an accredited investor has changed. If a registered user's status as an accredited investor has changed, such registered user agrees to immediately notify KLS of such change. Nothing in this Site may be considered as an offer or solicitation to purchase or sell securities or other services. If any provision in this Legal Disclaimer is held to be invalid or unenforceable, then the remaining provisions shall continue in full force and effect.

The information contained on this Site has been prepared for informational purposes and is not an offer to sell or purchase or a solicitation of an offer to sell or purchase any interests or shares in funds managed by KLS. Any such offer will be made pursuant to an offering memorandum and the documents relating thereto describing such securities.

Users of the Site may view, download and print information and materials on this Site for personal and internal business use provided that all hard copies contain all copyright and other applicable notices. Users may not reproduce, modify, copy, alter in any way, distribute, sell, resell, transmit, transfer, license, assign or publish any information obtained from this Site. Registered Users shall not use this Site at any time for any purpose that is unlawful or prohibited and shall comply with any applicable local, state, national or international laws or regulations when using this Site.

KLS and all associated logos and marks included on the Site that identify KLS services and products are proprietary materials. The use of such terms and logos and marks without the express written consent of KLS is strictly prohibited. Copyright in the pages and in the screens of the Site, and in the information and material therein, is proprietary material owned by KLS unless otherwise indicated. The unauthorized use of any material on the KLS website may violate numerous statutes, regulations and laws, including, but not limited to, copyright, trademark, trade secret or patent laws.

Past performance is not indicative of future results. Performance is net of all applicable fees and expenses, and reflects the reinvestment of dividends and other earnings. All performance figures are unaudited and subject to change upon final audit. Individual performance may vary depending on date of investment and class of investment. Further, the performance provided herein includes both realized and unrealized capital gains and losses. An investment in any KLS managed fund may lose value.

Comparisons to indices have limitations because indices have volatility and other material characteristics that may differ from a particular hedge fund. For example, a hedge fund may typically hold substantially fewer securities than are contained in an index. Indices also may contain securities or types of securities that are not comparable to those traded by a hedge fund. Therefore, a hedge fund’s performance may differ substantially from the performance of an index. Because of these differences, indices should not be relied upon as an accurate measure of comparison. In addition, data used in the benchmarks are obtained from sources considered to be reliable, but KLS makes no representations or guarantees with regard to the accuracy of such data.

Certain information contained herein constitutes “forward-looking statements” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “target,” “intend,” “continue,” “seek” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of any investment may differ materially from those reflected or contemplated in such forward-looking statements.

For Password Protected Areas of the Site:

Past performance is not indicative of future results. No representation is made that results similar to those shown can be achieved. Certain market and economic events having a positive impact on performance may not repeat themselves. The actual performance results experienced by an investor may vary significantly from the results shown for a number of reasons, including, without limitation, different investment periods, portfolio changes and different economic and market conditions. There can be no assurances that the CIOs will be able to navigate future market dislocations.

Target Returns are provided for illustrative purposes. There can be no assurances that target returns will be achieved. Such Target Returns are not intended to serve as, and must not be relied upon by any prospective investor as, a guaranty, an assurance, a prediction of a definitive statement of fact or a probability. Actual events and circumstances are difficult or impossible to determine and may differ from assumptions. No representation or warranty is made as to the reasonableness of the assumptions made with respect to determining the Target Returns or that all assumptions used in determining the Target Returns have been stated or fully considered.

The use of risk guidelines does not mean that KLS will not experience loss.

Risk guidelines can be exceeded from time to time.

Portfolio allocations are subject to change at the discretion of KLS.

Current year performance is based upon financial data that has not yet been audited and is subject to change. Prior year performance may also be based upon financial data that has not yet been audited depending on timing of the completion of the prior year's audit. If you have any questions please contact KLS. All performance is net of fees and expenses and reflects reinvestment of all investment income. For master-feeder structures, the performance of onshore KLS fund may differ from that of offshore KLS fund due to the fact that the expenses of funds may vary. KLS may provide potential investors in KLS Funds with additional information upon request.

Investments in KLS Funds are subject to significant risks and are only meant for sophisticated investors. Such risks include, but are not limited to, the risk of loss of principal, lack of diversification, limited liquidity, limited transferability, use of leverage, volatility and market disruptions. Prospective investors are referred to the Confidential Private Placement Memorandum of the applicable KLS Fund for a more detailed discussion of risk factors. The presentations on this Site are subject to and qualified in their entirety by reference to such offering documents. In making an investment decision, you must rely on your own examination of the respective KLS Fund and the terms of the offering. You should not construe the contents of this presentation as legal, tax, investment or other advice. No representation, warranty or undertaking, express or implied, is given as to the accuracy or completeness of the information or opinions contained herein by KLS, its partners or employees and no liability is accepted by such persons for the accuracy of completeness of any such information or opinions.

The returns of several market indices are provided for comparison purposes only; the comparison does not mean that there will necessarily be any correlation between the returns of funds managed by KLS and the indices. Prospective investors are referred to the index specific disclaimers contained in the material on the Site for additional information. The returns of the KLS funds differ from the returns of various indices in that, among other reasons, the KLS Funds are actively managed and may use leverage. The indices used for comparison purposes are unmanaged and are not subject to fees and expenses, including transaction costs, typically associated with managed accounts and funds. Investments cannot be made directly in indices and such indices may re-invest dividends and income.