The information provided in this material should not be considered as a recommendation, offer or invitation to invest in collective investment undertakings managed by UAB „Victory Funds“, nor as a legal or tax advice. The investor is solely responsible for the made investment decisions, thus any information provided cannot be considered as the basis for any subsequent transaction. Although the content of this material is based on sources which are considered reliable, UAB „Victory Funds“ is not responsible for any inaccuracies or changes in this information, as well as any losses incurred by the investor as a result of the investment made according to the information contained in this material. This material has been prepared based on the information available at the date of preparation of this material. Under no circumstances may the submission of this material lead to the presumption that there has been no change in the activities of the collective investment under- taking since the material was prepared. The provided information on the performance of a collective investment undertak- ing shall reflect only the past performance of that undertaking. Past performance does not guarantee any future results. If the return of investment has been positive in the past, it shall not necessarily be so in the future; the investment value may go up as well as down. The Management Company does not guarantee the return on investment.