Risk Disclaimers

General Investment Risks

All investments carry risk, including the possible loss of principal invested. The value of investments and the income from them can go down as well as up, and investors may not get back the full amount invested.

Market Risk

The value of investments may fluctuate due to changes in market conditions, economic factors, interest rates, currency exchange rates, and other factors beyond our control.

Liquidity Risk

Certain investments may be difficult to sell or convert to cash, particularly alternative investments such as private equity, venture capital, and hedge funds. Investors may be required to hold investments for extended periods and may face restrictions on redemptions.

Concentration Risk

Portfolios concentrated in specific sectors, geographies, or asset classes may be subject to greater volatility and risk than more diversified portfolios.

Alternative Investment Risks

Private Equity and Venture Capital

• Long investment horizons (typically 5-10 years) with limited liquidity
• High risk of total loss, particularly in early-stage investments
• Dependence on management team execution and market conditions
• Valuation uncertainty for private companies
• Capital calls requiring additional funding commitments

Hedge Funds

• Use of leverage, derivatives, and short-selling can amplify losses
• Complex strategies that may be difficult to understand
• Lock-up periods and redemption restrictions
• Performance fees in addition to management fees
• Counterparty and operational risks

Real Estate

• Property market cycles and valuation fluctuations
• Interest rate sensitivity affecting financing costs
• Tenant, occupancy, and lease renewal risks
• Regulatory, zoning, and environmental risks
• Limited liquidity and high transaction costs

Crypto Assets

• Extreme price volatility and speculative nature
• Regulatory uncertainty and potential prohibition
• Technology risks including hacking, theft, and loss of private keys
• Lack of investor protections and insurance
• Market manipulation and fraud risks

Geographic and Currency Risks

Emerging Markets

Investments in emerging markets, including Morocco and other developing countries, may involve greater risks than investments in developed markets, including:

• Political instability and changes in government policy
• Economic volatility and currency fluctuations
• Less developed legal and regulatory frameworks
• Lower liquidity and less efficient markets
• Restrictions on foreign investment and repatriation of capital

Currency Risk

Investments denominated in currencies other than your base currency are subject to exchange rate fluctuations, which may have an adverse effect on the value of investments and returns.

Operational and Other Risks

• Counterparty Risk: The risk that a counterparty to a transaction may default on its obligations
• Regulatory Risk: Changes in laws, regulations, or tax treatment may adversely affect investments
• Key Person Risk: Dependence on specific individuals for investment management and decision-making
• Cyber Security Risk: Technology failures, data breaches, or cyber attacks may disrupt operations
• Conflicts of Interest: Potential conflicts between HAMRI CAPITAL and client interests

Past Performance

Past performance is not indicative of future results. Any historical returns, expected returns, or probability projections are hypothetical in nature and may not reflect actual future performance. Market conditions change over time, and past strategies may not be suitable for future market environments.

Suitability and Professional Advice

HAMRI CAPITAL investment products are suitable only for sophisticated investors who:

• Meet applicable accredited investor or qualified purchaser standards
• Have sufficient financial resources to bear the risk of loss
• Have adequate liquidity to meet capital calls and withstand lock-up periods
• Understand the complex nature of alternative investments

Before making any investment decision, you should consult with qualified financial, legal, and tax advisors to determine whether an investment is appropriate for your specific circumstances.

No Guarantee

HAMRI CAPITAL does not guarantee any specific level of performance, the success of any investment strategy, or the achievement of any investment objective. All investments involve risk, and you may lose some or all of your invested capital.

Contact Information

For questions about investment risks or to request additional information, please contact us: