PLEASE READ THESE TERMS CAREFULLY BEFORE VISITING THE WEB SITE. BY UTILIZING THE WEB SITE, YOU ACKNOWLEDGE THAT YOU HAVE READ THESE TERMS AND CONDITIONS, AND THAT YOU AGREE TO BE BOUND BY THEM. IF YOU DO NOT AGREE TO ALL OF THE TERMS AND CONDITIONS, YOU ARE NOT AN AUTHORIZED USER OF THESE SERVICES AND PRODUCTS AND YOU SHOULD NOT USE THE WEB SITE.
UNAUTHORIZED USE OF THIS WEB SITE, INCLUDING BUT NOT LIMITED TO MISUSE OF PASSWORDS OR POSTED INFORMATION, IS STRICTLY PROHIBITED. AUTHORIZED USERS OF THE WEB SITE INCLUDE ANY USERS VISITING THE WEB SITE FOR PERSONAL AND/OR INFORMATIONAL PURPOSES, CLIENTS AND POTENTIAL CLIENTS OF WATERMARK, WATERMARK EMPLOYEES, CANDIDATES FOR EMPLOYMENT, SERVICE PROVIDERS, AND ANY OTHER USERS AUTHORIZED BY WATERMARK.
Purpose and Accuracy of Information on the Web site
The information on the Web site (the “Content”) is directed only at persons or entities in any jurisdiction or country where access to Content and use of such Content is not contrary to local law or regulation. Accordingly, you are responsible for informing yourself of and complying with any such restrictions.
The Content is for informational use only and is not intended to be, nor should it be construed or used as, tax, legal or investment advice, a recommendation of any kind, or an offer or solicitation to buy or sell securities or related investments products or services, including interests or shares in funds managed by Watermark (each, a “Fund,” and together, the “Funds”), where any such offer is not permitted.
The Content is provided without obligation on the part of Watermark and its affiliates and on the understanding that any person who acts upon it or changes his or her investment position in reliance on it does so entirely at his or her own risk. The Content is current only as at the date it is first posted and may no longer be true or complete when viewed by you. Additionally, the Content may be changed or amended without prior notice.
Furthermore, the information available on the Web site is not complete and does not contain certain material information regarding the Funds, including specific information relating to an investment in the Funds and related important risk disclosures. Investors should thoroughly review each Fund’s confidential offering documents with their professional advisor(s) to determine whether an investment in such Fund is suitable in light of their investment objectives and financial situation. An investment in a Fund is not suitable for all investors. See “Certain Risk Factors” in each such Fund’s confidential private placement memorandum.
If made available through the Web site, all performance figures, portfolio positions, portfolio holdings and related data, are unaudited and are subject to adjustment. Watermark is under no obligation to update or revise any such data. Investments for the Funds are selected by, and will vary at the discretion of Watermark, and it should not be assumed that Watermark will continue to invest in such instruments. Furthermore, such investments are subject to availability and market conditions, among other things, and it should not be assumed that such investments or similar investment opportunities will become available to the Funds in the future. No representation is made that Watermark’s or a Fund’s risk management, investment process or investment objectives will or are likely to be achieved or will be successful or that a Fund will make any profit or will not sustain losses.
Information on the Web site
The Web site contains general information about Watermark, its principal employees, and its research.
The Content is provided solely on the basis that you make your own investment decisions and does not constitute a personal recommendation or investment advice or create a business or professional services relationship.
Limitations to Use
You warrant that you will not use the Web site to conduct or engage in unlawful activities, to violate any law or regulation, or to violate or infringe upon the rights of Watermark, or any third party, including without limitation, contractual rights, intellectual property rights, and privacy rights. You shall not use or introduce into the Web site any device, software, or routine that could damage or interfere with the proper operation of the Web site. You shall not directly or indirectly take any action to unduly stress the Web site, including by way of example and not limitation, incurring session lengths or conducting search queries that Watermark reasonably determines to be abusive, or use any scraper, robot, spider, or other automated mechanism to access the Web site or download the Content.
The Web site may contain information provided by third parties, which although believed to be reliable, has not been independently verified. The accuracy or completeness of such information cannot be guaranteed. Watermark is under no obligation to update or revise any such information, and Watermark does not accept any liability arising out of the information contained on any linked website or information on the Web site provided by a third party.
You agree to indemnify, defend, and hold harmless Watermark, its affiliates and licensors, and the officers, partners, employees, and agents of Watermark and its affiliates and licensors, from and against any and all claims, liabilities, damages, losses, or expenses, including legal fees and costs, arising out of or in any way connected with your access to or use, or attempted access or use, of the Web site.
EXCEPT AS EXPRESSLY PROVIDED HEREUNDER, THE WEB SITE, INCLUDING WITHOUT LIMITATION ALL CONTENT AND INFORMATION PROVIDED IN CONNECTION WITH THE WEB SITE, IS PROVIDED “AS IS,” WITH ALL FAULTS, AND WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED. TO THE GREATEST EXTENT PERMITTED BY LAW, WATERMARK EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, EXPECTED RESULTS, OR ARISING FROM A COURSE OF DEALING, USAGE, OR TRADE PRACTICE. NO REPRESENTATION, WARRANTY OR UNDERTAKING IS GIVEN AS TO THE ACCURACY OR COMPLETENESS OF THE CONTENT BY WATERMARK OR ANY OF ITS AFFILIATES AND NO LIABILITY IS ACCEPTED BY SUCH PERSONS FOR THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION. IN NO EVENT WILL WATERMARK OR ANY OF ITS AFFILIATES BE LIABLE TO YOU FOR ANY CLAIM OR LOSS CLAIMED BY YOU OR ANY THIRD PARTY RELATING TO BUSINESS DECISIONS MADE BY YOU AS A RESULT OF YOUR USE OF THE WEB SITE OR THE CONTENT. THE INTERNET IS NOT A COMPLETELY RELIABLE TRANSMISSION MEDIUM, AND WATERMARK SHALL NOT BE LIABLE FOR ANY DATA TRANSMISSION ERRORS SUCH AS DATA LOSS, DAMAGE OR ALTERATION OF ANY KIND. WATERMARK DOES NOT GUARANTEE CONTINUOUS, UNINTERRUPTED OR SECURE ACCESS TO THE WEB SITE OR ANY CONTENT CONTAINED THEREIN. UNDER NO CIRCUMSTANCES SHALL WATERMARK OR ANY OF ITS AFFILIATES BE LIABLE TO YOU OR ANY OTHER PARTY FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR EXEMPLARY DAMAGES (EVEN IF SUCH DAMAGES ARE FORESEEABLE OR WHERE WATERMARK HAS BEEN ADVISED OR HAS KNOWLEDGE OF THE POSSIBILITY OF SUCH DAMAGES) ARISING FROM YOUR USE OR MISUSE OF THE WEB SITE, ANY CONTENT, OR ANY INFORMATION CONTAINED ON ANY OTHER WEB SITE.
Copyright, Trademarks and Other Rights
Nothing on the Web site should be considered as granting any license or right under any trademark of Watermark or any third party.
Privacy for California Consumers
These disclosures are required by the California Consumer Privacy Act (“CCPA”), are only relevant to residents of California, and apply only to the collection or other use of “personal information” that is subject to the CCPA.
Watermark may collect the following categories of personal information about California consumers:
A real name, alias, email address, postal address, Internet Protocol (IP) address, account name, Social Security number, driver’s license number, passport number, or other similar personal identifiers.
Other personal information categories, as listed in the California Customer Records statute
A signature, telephone number, bank account number, or any other financial information.
Internet or other similar network activity
Browsing history, search history, information on a consumer’s interaction with a website, application, or advertisement.
Watermark does not knowingly collect, solicit or sell personal information from anyone under the age of 16.
Watermark collects personal information from the following categories of sources:
Your communications with Watermark; and
Service providers, including, but not limited to administrators, banks, brokers, auditors, law firms, consultants, and custodians.
Use of Personal Information. Watermark may use the personal information it collects for one or more of the following purposes:
Providing you with information about the Funds;
Providing performance and other updates;
One or more of the following business purposes:
Performing services (by Watermark or another service provider) such as account servicing, processing orders and payments, and analytics;
Detecting and protecting against security incidents, fraud, and illegal activity;
Activities to maintain and improve Watermark’s services; and
Short-term, transient use, provided that the personal information is not disclosed to another third party and is not used to build a profile about a consumer.
Sharing Personal Information. Watermark may disclose personal information in one or more of the categories identified above to:
Service providers, including but not limited to administrators, banks, auditors, law firms and consultants;
Legal or government regulatory authorities as required by applicable law; and
In connection with a potential business transfer.
Watermark does not sell any personal information it collects to third parties, and Watermark will only share personal information it collects as set forth above.
Rights of California Consumers. The CCPA provides a California consumer the following rights, subject to certain exceptions and limitations:
The right to request (a) the categories and specific pieces of personal information about you that Watermark collects, uses, and discloses, (b) the categories of sources from which Watermark collects your personal information, (c) Watermark’s purposes for collecting your personal information, (d) the categories of your personal information (if any) that Watermark discloses for a business purpose, and (e) the categories of third parties with which Watermark shares personal information;
For certain categories of personal information, the right to request a list of what personal information (if any) Watermark discloses to third parties for their own direct marketing purposes in the past 12 months and the names and addresses of those third parties;
The right to request that Watermark deletes the personal information it has collected from you or maintain about you;
The right to opt out of Watermark’s sale(s) (if any) of your personal information; and
The right not to receive discriminatory treatment for the exercise of the privacy rights conferred by the CCPA.
You may submit requests relating to your exercise of rights under the CCPA to Watermark:
via phone – (609) 683-8200;
email – firstname.lastname@example.org.
Watermark may need to request additional information from you to verify your identity or understand the scope of your request. If Watermark is unable to verify your identify, it will need to deny your request.
You may designate an authorized agent to make a CCPA request on your behalf by mailing two forms of identification showing your first name, last name, and current address, and a signed authorization allowing an agent to request information on your behalf.
You agree to exercise at least the same degree of care with respect to the confidentiality of the Content as you would exercise in respect of your own confidential information. You agree that you shall only use the Content for the purpose of evaluating a Fund for investment or legitimate business purposes.
You agree that you may disclose Content, subject to the terms hereof, only to your affiliates and your and their respective employees, officers, partners, members, consultants, directors, advisors and agents (such recipients of Content, collectively, your “Representatives”) who are subject to obligations of confidentiality. You shall be responsible for any unauthorized disclosure of Content by you or your Representatives. You shall not, without Watermark’s prior written consent, disclose Content to any persons other than your Representatives, including, for the avoidance of doubt, any unaffiliated individuals and/or entities to whom you provide investment management services, except to the extent you are required by a legal, governmental or regulatory authority.
In the event of any conflict between the terms hereof and any separate confidentiality agreement entered into between you and Watermark before, on or after the date hereof, the terms of the separate confidentiality agreement shall prevail with respect to the subject matter and time period thereof.
You are solely responsible for the confidentiality and security of your password. You accept full responsibility for any use of your password. You must notify Watermark immediately of any actual or suspected loss, theft or unauthorized use of your password.
Watermark is not obligated to inquire as to the authority or propriety of any use of or action taken under your password. Watermark will not be responsible for any loss to you that arises from such use or action or from your failure to comply with these provisions.
Actual or attempted unauthorized use of the Web site may result in criminal and/or civil prosecution. Watermark reserves the right to view, monitor and record activity on the Web site without notice or permission from you and such information obtained by monitoring, reviewing or recording is subject to review by law enforcement organizations in connection with investigation or prosecution of possible illegal activity on the Web site. Watermark will also comply with all court orders as well as all law enforcement and regulatory inquiries involving requests for such information.
Linking and Framing
Enforceability and Governing Law
INVESTMENT IN ANY OF THE FUNDS AND/OR STRATEGIES DESCRIBED ON THE WEB SITE CARRIES SUBSTANTIAL RISK, INCLUDING THE POSSIBLE LOSS OF CAPITAL. THERE IS NO GUARANTEE THAT THE INVESTMENT OBJECTIVES OF THE FUNDS AND/OR STRATEGIES WILL BE ACHIEVED AND RETURNS MAY VARY SIGNIFICANTLY OVER TIME. INVESTMENT IN THE FUNDS AND/OR STRATEGIES DESCRIBED ON THE WEB SITE IS NOT SUITABLE FOR ALL INVESTORS.
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS.
FUND OFFERING DOCUMENTS CONTAIN RISK WARNINGS THAT ARE SPECIFIC TO EACH FUND THAT MAY BE DESCRIBED ON THE WEB SITE.
INVESTORS SHOULD ONLY INVEST IN A FUND ONCE THEY HAVE THOROUGHLY REVIEWED THE CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM AND OTHER OFFERING DOCUMENTS FOR THE FUND AND CAREFULLY CONSIDERED THE RELEVANT INVESTMENT OBJECTIVES, RISKS, CHARGES AND FEES. INVESTORS MAY WISH TO CONSULT AN INDEPENDENT FINANCIAL ADVISOR FOR PERSONAL AND SPECIFIC INVESTMENT ADVICE BEFORE INVESTING.
An investment in a Fund is subject to limited liquidity and significant restrictions on transferability and resale. Investors will be required to bear the financial risks of an investment in a Fund for an indefinite period of time. An investment in a Fund involves the risk of loss of an investor's entire value of investment in such Fund. No guarantee or representation is made that a Fund’s investment program, including, without limitation, a Fund’s investment objective, diversification strategies or risk monitoring goals, will be successful. Investment results may vary substantially over time. The success of a Fund’s activities will be affected by general economic and market conditions. Volatility or illiquidity could impair a Fund’s profitability or result in losses. To the extent a Fund uses leverage, the effect of the use of leverage in a market that moves adversely to its investments could result in substantial losses to such Fund. The loss of the services of Watermark or its key personnel could have a material adverse effect on a Fund and the investors' interests therein. No assurance can be made that profits will be achieved or that substantial or complete losses will not be incurred. Past investment results of a Fund and Watermark (or investments otherwise made by the investment professionals of Watermark) are not indicative of their future performance.