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We believe the information contained in this material to be reliable but do not warrant its accuracy or completeness. Opinions, estimates, and investment strategies and views expressed in this document constitute our judgment based on current market conditions and are subject to change without notice. This material should not be regarded as research or a J.P. Morgan research report. Opinions expressed herein may differ from the opinions expressed by other areas of J.P. Morgan, including research. The investment strategies and views stated here may differ from those expressed for other purposes or in other contexts by other
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This material has been designed for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any investment products or services described herein may not be suitable for all clients.
Investments in commodities carry greater volatility than investments in traditional securities. The value of commodities may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting
a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Use of leveraged commodity-linked derivatives creates an opportunity for increased return but, at the same time, creates the possibility for greater loss. Commodities are subject to investment risks such as perceived scarcity, quality, current demand, market sentiment and various economic factors. The risk of loss in trading commodity futures and options can be substantial. Commodities and futures generally are volatile and may not be suitable for all investors.
Real estate, structured investments, hedge funds and other private investments may not be suitable for all individual investors, may present significant risks, and may be sold or redeemed at more or less than the original amount invested. Offers and sales of
any of these securities or instruments may only be made pursuant to the related offering document, which more fully describes the possible risks, and should be read carefully. This material is not intended to provide, and should not be relied on for accounting, legal or tax advice, or investment recommendations. You should consult your tax or legal advisor about the issues discussed herein and review carefully the offering document in its entirety before participating in any investment. There are no assurances that
the stated investment objectives of any investment product will be met. Hedge funds (or funds of hedge funds): often engage in leveraging and other speculative investment practices that may increase the risk of investment loss; can be highly illiquid; are
not required to provide periodic pricing or valuation information to investors; may involve complex tax structures and delays in distributing important tax information; are not subject to the same regulatory requirements as mutual funds; and often charge high
fees. Further, any number of conflicts of interest may exist in the context of the management and/or operation of any hedge fund.
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The views and strategies described herein may not be suitable for all investors. This information is not intended as an offer or solicitation for the purchase or sale of any financial instrument.