Welcome to the Alternative Decisions website the trading name of eHedge AG ("Website"), a German corporation (hereinafter referred to as “Alternative Decisions") with its registered office at Mainzer Landstrasse 23a, 60329 Frankfurt, Germany.

The following text contains the terms and conditions for using the information and services provided. By accessing, viewing, or using the materials or services available on or through this Website you (the user) indicate that you accept this Agreement and agree to be legally bound by it.

If you do not agree with these terms and conditions, you are not granted permission by Alternative Decisions to access or otherwise use this Website.

In the event that any changes are made to these terms and conditions, the user will be notified of the new terms and conditions. If the user does not accept them, he will not be granted permission to access or otherwise use this Website any longer.

Contents:

1. The Website
2. Grant of User License
3. Registered User
4. Registration process and User warranties
5. User Name and Password Policy
6. No contractual obligations
7. No Recommendations or Investment Advice
8. Intellectual Property Rights
9. Confidentiality on Internet
10. Postings
11. No Pre-Screening of Postings
12. Permission to Use Postings
13. Email Policy and Terms of Service
14. Advertisers on this Website
15. Disclaimers
16. Governing Law
17. Waiver
18. Severability
19. Privacy Policy
20. Email Correspondence
21. Use of Information Collected

1. The Website
   www.alterntivedecisions.info ("Website") is an interactive library, providing information and other materials of interest to institutional investors and to individuals or entities responsible for managing or overseeing institutional fund assets ("users").
   The information and materials found on this Website are in particular not directed to persons or companies in countries with jurisdictions in which (a) the offer would or could be illegal or in which (b) Alternative Decisions by providing the information and materials found on this Website would be obliged to comply with additional rules.
2. Grant of User License.
   The acceptance of these terms and conditions provides you, the user, with a personal, revocable, nonexclusive, non-transferable license to use this Website conditioned on your continued compliance with the terms and conditions.
   Users may print and download materials and information on this Website provided that all hard copies contain all copyright and other applicable notices contained in such materials and information.
   Except when otherwise expressly permitted herein, a user may not modify, copy, distribute, broadcast, transmit, reproduce, publish, license, transfer, sell, mirror, frame, or otherwise use any information or material obtained from or through this Website. As a further condition of use of this Website, all users warrant to Alternative Decisions that they will not use this Website for any purpose that is unlawful or prohibited by this Agreement and they will comply with any applicable local, state, national, or international laws or regulations when using this Website.  Alternative Decisions retains the right to deny access to anyone who we believe has violated any of these Terms and Conditions.
3. User Group Definitions
   The Website is based upon two modules (Public areas and Library). There are three various User Groups ("Users") with different access possibilities to www.alternativedecisions.info:

   1. Guests":
   "Guests" are all individuals or institutions that visit the Website. Guests can access the public areas of the Website; within this module no Content can be accessed.

   2. "Suppliers":
   "Suppliers" are alternative asset managers, who are registered with Alternative Decisions as Suppliers. Suppliers have access to the Website within the Library module that enables them to input and upload their own products/services while preventing them from accessing any information provided by another Supplier. Their access is password protected (for details, see 4.).
   Alternative Decisions reserves the right to remove or refuse any information provided by a Supplier at any time without prior notice or giving reasons.

   3. "Investors":
   "Investors" are institutions (e.g. pension plans, financial institutions, or corporations, consultants or advisors conducting research or searches on behalf of institutional investors or for their own research, investment managers, and other investment professionals in the institutional investor community) registered with Alternative Decisions as Investors. They are thoroughly pre-screened by Alternative Decisions prior to acceptance as such. "Investors" are the only User Group with full access to the Library module. Their access is password protected (for details, see 4.).

4. Registration process and User warranties
   When registering with Alternative Decisions, each User represents and warrants that he or she is:

   1. An employee of an entity that is eligible for registration as provided by the registration form;
   2. Above the age of 18;
   3. Using his or her actual identity;
   4. Providing only accurate, complete, and up-to-date information about his or herself during the registration process and at other times when Alternative Decisions occasionally asks for other information.

   US-based institutions or persons must be accredited investors as is defined in Rule 501 under the Securities Act of 1933, as amended. Institutions are accredited if they have total assets in excess of $5,000,000; Individuals are accredited whose individual net worth, or joint net worth with that person's spouse, at the time of any investment exceeds $1,000,000;
   "Investors" agree to notify us immediately of any changes to that information.
   Where Alternative Decisions believes, or has proof that the User has provided false information, Alternative Decisions reserves the right to deny access and to terminate this contract without notice.

5. User Name and Password Policy
   Use of certain portions of this Website requires both User Name and a Password.
   During the registration process for this Website, users choose a unique User Name and a Password to become a Registered Member and to gain access to the restricted areas of this Website.
   One Registered Member can only use each User Name and corresponding Password.
   Anyone with knowledge of both a Registered Member's User Name and Password can gain access to the restricted portions of this Website and the information available to each Registered Member. Accordingly, all passwords must be kept secret.
   By accepting these Terms and Conditions, Registered Members agree to be solely responsible for the confidentiality and use of their respective Password, as well as for any communications entered through the Website using the Password.
   All Registered Members will immediately notify Alternative Decisions if they become aware of any loss or theft of their Password or any unauthorized use of their Password. Alternative Decisions reserves the right to delete or change a Password at any time and for any reason. Alternative Decisions will notify such measure to the User.


6. No contractual obligations
   This Website and the materials and information available on or through it are provided by Alternative Decisions as a service to its users. For Alternative Decisions, no contractual obligation shall be incurred to a User or another person.
   There is no guarantee that any information on the Website will be or continue to be available in the future or that the format may not change. The service could be cancelled or changed at any time without prior notice.


7. No Recommendations or Investment Advice
   The information on this Website is intended for educational, informational, and research purposes only. Alternative Decisions does not provide investment advice or recommendations of investments of any kind. Accordingly, Alternative Decisions does not offer advice regarding the quality or suitability of any investment or of any investment manager and assumes no responsibility or liability for any investment decisions or advice, treatment, or services rendered by any institutional investor, expert panellist, broker dealer, investment manager, investment professional, or any other person featured on this Website.
   Prior to making any investment or to hiring any investment manager, you are advised to consult with your broker or other financial advisor to verify pricing and other information and/or do such other due diligence as may be appropriate under the circumstances. Alternative Decisions or any Content Provider shall not have any liability for investment decisions based upon, or the results obtained from, the content provided herein.


8. Intellectual Property Rights
   The contents of this Website are Copyright © 2009, Alternative Decisions. All rights reserved. Alternative Decisions also owns a copyright in the Website as a collective work and/or compilation, and in the selection, coordination, arrangement, and enhancement of this Website's content.
   Alternative Decisions and all other names, logos, and icons identifying Alternative Decisions products and services are proprietary marks of Alternative Decisions, and any use of such marks without the express written permission of Alternative Decisions is strictly prohibited.
   Other product and company names mentioned herein may be the trademarks of their respective owners.
   Except when expressly provided herein, Alternative Decisions does not grant any express or implied right to users of this Website under any patent(s), copyright(s), license, trademark(s), or trade secret information. Accordingly, unauthorized use of any material contained in this Website may violate copyright laws, trademark laws, trade secret laws, the laws of privacy and publicity, and other regulations and statutes.
   Actual or attempted unauthorized use of the Website may result in criminal and/or civil prosecution.


9. Confidentiality on Internet
   Use of the Internet is solely at your own risk and is subject to all applicable local, state, national, and international laws and regulations. While Alternative Decisions has endeavoured to create a secure and reliable Website, please be advised that the confidentiality of any communication or material transmitted to/from this Website over the internet cannot be guaranteed.
   Accordingly, Alternative Decisions and its affiliates are not responsible for the security of any information transmitted via the internet. The User assumes the respective security risk for using this Website. For more private communication, users may contact Alternative Decisions at here.


10. Postings
    To the extent this Website contains news, opinions, bulletin boards, message boards, review areas, chat rooms, question/answer areas, or other forums (collectively "forums"), you agree that you will not post or transmit (including by email) any of the following materials:
    • Statements or material that defame, harass, abuse, stalk, threaten, or in any way infringe the rights of others,
    • unauthorized copyrighted material or any other material which infringes the intellectual property rights, trade secrets, or privacy of others,
    • statements or material that are bigoted, hateful, or racially offensive,
    • statements or material that encourage criminal conduct or that would give rise to civil liability or otherwise violate any law or regulation in any jurisdiction,
    • statements or material that constitute insider trading or violate any other securities laws,
    • statements that constitute anti-competitive collaboration and/or antitrust law violations,
    • statements or material that contain vulgar, obscene, profane, or otherwise objectionable language or images that typically would not be considered socially or professionally responsible or appropriate in person,
    • chain letters or pyramid schemes,
    • statements or material that are "off-topic" for a designated forum,
    • statements or material that solicit or encourage users to become affiliated or do business with competitors of Alternative Decisions, and
    • files that contain malicious code, viruses, corrupted files, or any other similar software or programs that may damage the operation of another's computer.


11. No Pre-Screening of Postings
    Alternative Decisions does not screen or control content posted by users or other third parties to Website forums. Nevertheless, Alternative Decisions reserves the right, in its sole discretion, to delete or take other action with respect to content that Alternative Decisions believes in good faith violate this Agreement and/or are potentially unlawful and/or do not fit into the context or constitution of the Website.
    Users who violate these Terms and Conditions may, at Alternative Decisions's discretion, receive a warning from Alternative Decisions or be excluded from the Website without warning.
    If a user becomes aware of content that violate these rules, the User may contact Alternative Decisions here.


12. Permission to Use Postings
    By submitting content to this website, a User automatically grants Alternative Decisions a royalty-free, perpetual, irrevocable, nonexclusive right and license to use, reproduce, modify, adapt, publish, edit (for length or clarity), translate, create derivative works from, distribute, redistribute, transmit, perform, and display such content (in whole or part) worldwide and/or to incorporate it into other works in any form, media, or technology now known or later developed for the full term of any rights that may exist in such content.
    Notwithstanding this right and license, it is understood that by merely permitting a User's posting to appear on a Website forum as intended by the User and unedited by Alternative Decisions (except, perhaps, for length or clarity), Alternative Decisions has not become and is not a publisher of such posting.


13. Email Policy and Terms of Service
    As a condition of use of the Email service available through this Website, the User warrants to Alternative Decisions that he or she, respectively, will not use the service for any purpose that is unlawful or prohibited by the Alternative Decisions Email Terms of Service
    Email is a part of Alternative Decisions's service designed for communication between Registered Users (investors and managers). Alternative Decisions reserves the right to take action against any Registered User who is defaming, harassing or otherwise offending another Registered Users through Email, if it comes to Alternative Decisions's attention that this type of abuse is occurring, as is more fully set forth above in section 9 ("Postings").


14. Advertisers on this Website
    Alternative Decisions, in its sole discretion, may post the advertisements of third parties on this Website. The acceptance of advertising by investment managers, other users or other third parties of this Website is not intended as and does not in any manner constitute a recommendation, endorsement, or approval of the advertiser or its services by Alternative Decisions. A user's correspondence or any other dealings with advertisers found on this Website are solely between the user and such advertiser. Users agree that Alternative Decisions shall not be responsible for any loss or damage of any kind incurred as a result of any such dealings or as the result of the presence of such advertisers on this Website. Moreover, Alternative Decisions shall not be responsible or liable for the statements or conduct of any third party on this Website.
    Advertising and commercial solicitation may be posted on or transmitted through this Website only with Alternative Decisions's prior approval and only if the advertising or commercial solicitation complies with all conditions imposed by Alternative Decisions. Please contact us for more information on advertising.


15. Liability of Alternative Decisions
    Alternative Decisions shall only be liable (i) for damages caused by intent and gross negligence by its managing directors, executives, employees, staff members, subcontractors and similar vicarious agents and (ii) for damages consisting of non-compliance of guarantees and representations. In case of simple negligence, Alternative Decisions shall only be held liable for violation of the substantial contractual obligation (cardinal obligation) and liability will be limited to the foreseeable and contract-typical damage. Also in case of gross negligence of Alternative Decisions or its employees, staff members, subcontractors or similar vicarious agents, Alternative Decisions's liability will be limited to the foreseeable and contract-typical damage.
    Alternative Decisions assumes no liability that the Website will be accessible at all times.
    The Website may provide links to other websites. Alternative Decisions shall not be held liable or responsible for the reliance of any such site or for any delays, inaccuracies, errors or omissions in the material or in the transmission or delivery of all or any part thereof. Furthermore, Alternative Decisions shall not be held liable for any damage to users, computer systems or loss of data that results from the download, transmission or delivery of all material, or any part thereof, presented on the Websites or linked websites.


16. Governing Law
    This Agreement has been made in and will be construed and enforced in accordance with German law. Any action to enforce this Agreement will be brought in the courts of Frankfurt am Main, Germany, and all parties to this Agreement expressly agree to be subject to the jurisdiction of such courts.
    This Website is controlled and operated by Alternative Decisions from its offices in Frankfurt am Main, Germany. Alternative Decisions gives no warranty that materials on the Website are appropriate or available for use in other locations, and access to them from territories where any of the contents of this Website are illegal, is prohibited. Those who choose to access this Website from other locations do so on their own accord and are responsible for compliance with applicable local laws.


17. Waiver
    Failure to insist on strict performance of this Agreement will not operate as a waiver of any subsequent default or failure of performance. No waiver by Alternative Decisions of any right under this Agreement will be deemed to be either a waiver of any other right or provision or a waiver of that same right or provision at any other time.


18. Severability
    If any part of this Agreement is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and the liability limitations set forth above, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most clearly matches the intent of the original provision and the remainder of this Agreement shall continue in effect.


19. Privacy Policy
    The user-data is saved, processed and evaluated for internal purposes of Alternative Decisions in accordance with the applicable laws. Alternative Decisions particularly uses the IP address in the administration of its website to help identify users and their searching and ordering processes and to gather broad demographic information that we turn into reports for Suppliers.
    Our Website Registration Form requires users to give us contact information. We will use this contact information to send users information about our company and news bulletins. The Website will only contact users on matters regarding the Website and to respond to enquiries or any requests initiated by the User. Users may opt whether they wish to receive future mailings, except those essential to the management of their accounts and the transactional module. You have the option to remove your information from our database and to not receive future communications or to no longer receive our service you can send an email to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
    

    This Website has security measures in order to protect the loss, misuse and alteration of the information under our control. Firewalls are implemented in order to protect the security of user information, and only employees who need this information to do their jobs have access to it. Employees are kept aware of the company's security policies.
    
    The user explicitly agrees to the saving, processing and evaluation of his personal data by Alternative Decisions as described above.

20. Any e-mail correspondence and attachments sent to any party are confidential and intended solely for the addressee and may also be privileged or exempt from disclosure under applicable law. If you are not the addressee, or receive such an e-mail in error, please notify the sender immediately, delete it from your system and do not copy, disclose or otherwise act upon any part of the e-mail or its attachments.

21. Use of Information Collected
    By using the website you consent to us using your personal information for the purposes described below.
    When other personal information, such as your name and e-mail address, is collected from you with your consent (for example, through the use of on-line forms or via e-mail etc.) we generally let you know at the time of collection how we will use that personal information. We may also use the personal information you provide or which we collect via this Website for the purposes of
    (a) transferring information to fund management groups to permit customer support including monitoring of your use of the Website and providing data as to which areas and types of data you access; Important Note: This data will never be passed to any third party other than the actual fund management group who owns the data you have accessed.
    (b) providing any goods or services that you have requested from us (including registering for our Document Online or Data Online service).
    (c) billing you and contacting you where necessary concerning any subscriptions to chargeable services;
    (d) responding to your inquiries or to process your requests in relation to your information;
    (e) providing and personalising our services generally;
    (f) administering records of our subscription services;
    (g) carrying out market research campaigns;
    (h) maintaining information as a reference tool or general resource;
    (i) making the Website easier for you to use and providing you with access to all parts of the Website; and
    (j) helping you to quickly find services and information on the Website;
    (k) where necessary, crime prevention and prosecution of offenders; and
    In particular, we may use your information to contact you for your views on our services and to notify you occasionally about important changes or developments to the Website or our services Further we might use you information to contact you to let you know about other products and services:
    (a) which we offer and which may be of interest to you;
    (b) which are offered by other companies within the group of companies affiliated to FundsLibrary; or
    (c) which are offered jointly with or on behalf of other organisations.
    If you change your mind about being contacted in the future, please let us know.