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Local legal restrictions

This website exclusively addresses recipients who may be lawfully supplied with the contents provided. It does not address persons in countries that prohibit the provision, consultancy and usage of the contents provided. Certain users may be prohibited from accessing the information on this website by local legislation and regulatory provisions. Persons that are subject to such prohibitions are not permitted to access the website of TBF Global Asset Management (hereafter referred to as TBF). The products or services provided that are described on this website as well as information prospectuses about these products and services are not available to citizens of the United Kingdom and the USA and also to citizens of other countries that do not permit the products and services to be offered due to local legislation and regulatory provisions.

No offer

The information and assessment on this website do not represent an invitation nor a recommendation to buy or sell investment products or perform other transactions.


No consultation

The contents provided on this website are presented solely for the purpose of general information and do not represent a consultation by TBF. Neither TBF, the authors nor the publishers are liable for the information used on this website. Please consult your legal, tax and financial adviser regarding your personal situation.
TBF shall not in any event be held accountable for damages of any kind including direct, indirect, special or consequential, which could arise from the utilisation of information from this website.

No liability

The contents of this website were prepared with the utmost care. However, TBF does not accept any liability (neither express nor tacit) for the contents of this website being accurate, complete or up to date.
It is your own responsibility to evaluate the accuracy, completeness and validity of the opinions, references, services and other information that can be retrieved on these pages.

Limitation of liability

TBF is not liable for contents that are disseminated on the TBF website, nor for resulting damage, unless TBF has caused such damage deliberately or due to gross negligence. This applies to all manner of damages, in particular, damages that can be caused by errors, delays or interruptions in the transmission, disruptions of the technical systems and services, inaccurate contents, loss or deleting of data, viruses or otherwise when using this website.


The entire content of this website is protected by copyright and TBF reserves all rights. Unless otherwise defined, all texts, images and the layout on this website are the exclusive property of TBF. Texts, images and the layout of this website may not be wholly or partially copied or disseminated without obtaining the prior written consent of TBF. Downloading and printing pages/contents from this website and presenting and using this website with a computer is only permitted for private use.

Links to other websites

The website of TBF contains links to external, third-party websites. These websites are developed and administered by persons outside the influence and control of TBF. Such sites are not monitored by TBF. For this reason, TBF cannot accept any liability for the contents, correctness, lawfulness and functionality of these external websites. The respective provider or operator of these linked sites is always the responsible person. TBF cannot guarantee that the links to other websites using hyperlinks are correct at the time this website is used. Viewing sites using links is performed at your own risk.