This document has been prepared by BBY (NZ) Limited (“BBY”) on behalf of itself and its associates, officers, directors, employees and agents.
All information has been prepared in good faith and based on the facts known at the time of preparation and does not purport to contain all relevant information in respect of the financial products to which it relates. Any projections are estimates only and may not be realised in the future.
BBY and its associates, officers, directors, employees and agents, from time to time, may hold securities in any of the companies to which this document refers and made trade in securities mentioned either as principal or agent.
Disclaimer & Warning
Please note that this document/communication may contain general advice or recommendations which, while believed to be accurate at the time of publication, are not appropriate for all persons or accounts. This document does not purport to contain all the information that a prospective investor may require. Before making an investment or trading decision, the recipient must consider market developments subsequent to the date of this document, and whether the advice is appropriate in light of his or her financial circumstances or seek further advice on its appropriateness or should form his/her own independent view given the person’s investment objectives, financial situation and particular needs regarding any securities or Financial Products mentioned herein.
Information in this document has been obtained from sources believed to be true but neither BBY nor its associates make any recommendation or warranty concerning the Financial Products or the accuracy, or reliability or completeness of the information or the performance of the companies referred to in this document. Past performance is not indicative of future performance. This document is not an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any Financial Product, and neither this document or anything in it shall form the basis of any contract or commitment. Although every attempt has been made to verify the accuracy of the information contained in the document, liability for any errors or omissions (except any statutory liability which cannot be excluded) is specifically excluded by BBY, its associates, officers, directors, employees and agents. The securities of any company(ies) mentioned in this document may not be eligible for sale in all jurisdictions or to all categories of investors.
BBY does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Research Analysts who prepare a document for BBY hereby certify that the views expressed in the document accurately reflect the analyst’s personal views about any and all of the subject issuer(s) and/or securities. The Research Analysts also certify that no part of their compensation is, will be directly or indirectly related to the specific recommendation(s) in a report.
BBY has prepared research from multiple distributions and without consideration to the investment objectives, financial situation or particular needs (“Objectives”) of any individual investor. Accordingly, any advice given is not a recommendation that a particular course of action is suitable for any particular person and is not suitable to be acted on as investment advice. Readers must assess whether or not the advice is appropriate to their Objectives before making an investment decision on the basis of this report. Readers can either assess the advice themselves or if they require a recommendation personal to them, they should seek the help of their BBY client Adviser.
Electronic Communication Disclaimer
The contents of this electronic communication and its attachments (this “Communication”) are intended only for the use of the addressee and may contain financial product advice which may not be appropriate for all persons or accounts. Persons or entities considering any advice or recommendations should contact a BBY adviser with any additional questions regarding whether or not the advice or recommendations given are appropriate having regard to the person’s investment objectives, financial situation and particular needs. From time to time, BBY, its officers, directors, and associates may have interests in any financial products referred to in this Communication. Past performance is not necessarily a guide to future performance. This Communication is not an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any financial product, and neither this Communication or anything in it shall form the basis of any contract or commitment.
Any views expressed in this Communication are those of the individual sender, except where the message states otherwise and the sender is authorised to state them to be the views of BBY. This Communication may also contain personal information, confidential information or legally privileged information. If personal information is contained in this Communication, then it is governed by the Privacy Act 1993 and must be treated in accordance with the Privacy Act 1993 by the recipient. The legal privilege and confidentiality attached to this e-mail is not waived, lost or destroyed by reason of mistaken delivery to you.
BBY does not accept liability (other than statutory liability) for any errors or omissions or for loss or damage incurred as a result of a person or entity acting in reliance on this Communication. The recipient should check this Communication for the presence of viruses. The firm accepts no liability for any damage caused by any virus transmitted by this Communication whether caused by our own negligence or not.
If you receive this Communication in error, please immediately delete it and all copies of it from your system, destroy any hard copies of it and notify the sender. If you are not the intended recipient, you must not disclose the information contained in this Communication in any way. All unauthorised reproduction or other use of material from this Communication shall be deemed wilful infringement(s) of BBY’s copyright and other proprietary and intellectual property rights, including but not limited to, rights of privacy. BBY reserves the right to monitor all Communications through its networks. No confidentiality or privilege is waived or lost by any miss transmission. Attachments to this Communication may have additional important disclaimers which you should read.
BBY Interests Disclosure
Please note that BBY makes important disclosures of its interests. Please click here.
Do not invest in financial products with money that you cannot afford to lose.
An investment in derivatives carries a high degree of risk to the investor. This means that, due to fluctuations in value, the investor may not get back the amount he has invested. Additionally, with certain transactions, the investor may not only lose what he has invested at the outset, but may incur an additional liability to pay further unspecified amounts at a later date.
The inherent concept of derivatives means that they are not suitable for an investor seeking an income from his investments because the income from such investments may fluctuate in value in money terms. For an investment in an OTC product, which is not a readily realisable investment, it may be difficult to sell or realise the investment and obtain reliable information about its value, or the extent of the risks to which it is exposed.
The value of investments denominated in foreign currencies may reduce or increase due to changes in the rates of exchange as between different currencies. Derivatives are therefore only suitable for those investors who fully understand the market risks, including the risks inherent in foreign exchange markets, and have previous trading experience. It is advisable to seek independent legal, financial and tax advice prior to investing.
Investors are dealing with BBY (NZ) Limited (BBY New Zealand) as their advisor and executing through third party Participants when they invest in financial products. Therefore, investors are exposed to the risk that a third party Participant may not be able to perform its obligations under the derivative at the time they close their derivative position. An investor’s recourse is limited to the third party Participant except as otherwise permitted under BBY New Zealand’s Terms and Conditions.