Mundane Asset Management Ltd is an investment advisory firm based in London. The firm provides investment advice to the manager of the Mundane World Leaders Fund, an unregulated collective investment scheme. The information and data contained in this publication, including any expressions of opinion, are based on a genuine and reasonable assessment by us of all the circumstances including opinions held by other appropriately qualified and experienced persons, but we offer no guarantee as to the accuracy or completeness of any such information or data.

This publication is only sent to people that have an interest in receiving it, is not for onward distribution and in no way constitutes advice. The publication has been prepared by Mundane Asset Management Ltd for its own use and may have already been acted upon by Mundane or Mundane employees.

Mundane Asset Management Ltd is regulated in the United Kingdom by the Financial Conduct Authority. The Financial Conduct Authority has asked us to remind you that the value of securities goes up as well as down and that an investor may not get back all his investment.