Risk Disclosure

1. General investment risk

The value of investments can go down as well as up. You may receive less back than you invested. Past performance is not a reliable indicator of future results. Performance shown on this website is net of fees, in EUR, and includes the assumption that distributions are reinvested. Investing is suitable only with money you can afford to leave invested for several years.

2. Market risk

Asset prices fluctuate due to macroeconomic conditions, interest-rate changes, central bank policy, sentiment, and geopolitical events. Diversification across asset classes reduces — but cannot eliminate — this risk. In sharp drawdowns, correlations between asset classes can rise, magnifying short-term losses across the whole portfolio.

3. Liquidity risk

Most instruments we hold are highly liquid (large-cap equities, listed ETFs, EU government bonds). Some segments — including digital assets and selected fixed-income markets — may experience temporary illiquidity, leading to wider spreads or delays in execution, particularly during periods of market stress.

4. Currency risk

We base your account in EUR. Where we hold non-EUR assets (e.g. USD-denominated equities or USD-pegged stablecoins), changes in exchange rates affect the EUR value independently of the underlying performance. We do not systematically hedge currency exposure unless your strategy explicitly requires it.

5. Digital-asset risk

The digital-asset sleeve in certain strategies is capped at the level disclosed in your strategy fact sheet. Digital assets are subject to elevated volatility, regulatory uncertainty, custody-specific risks (private-key management, exchange counterparty), and irreversible transaction risk. We use only AFM/DNB-supervised counterparties and institutional-grade custody.

6. Counterparty and custody risk

Client cash and securities are held in your name with our contracted EU custodian, segregated from our balance sheet, and are legally segregated from our balance sheet. In the unlikely event of our insolvency, your assets are not available to our creditors. Cash deposits at the custodian are covered by the Dutch Deposit Guarantee Scheme up to €100,000 per depositor per institution. Securities are protected by the Investor Compensation Scheme (Beleggers­compensatiestelsel) up to €20,000 in case of custodian failure. Above these limits, recovery would depend on the insolvency proceedings.

7. Operational and technology risk

• System outages or cyber-incidents may temporarily prevent execution or reporting.
• Errors in pricing, corporate-action processing, or settlement may occur and are corrected as soon as discovered.
• Third-party providers (custodian, brokers, payment rails) introduce dependency risks beyond our direct control.

8. Tax risk

Tax treatment depends on your individual circumstances and may change. We provide an annual NL tax statement; we do not provide individual tax advice. You are responsible for reporting and paying any tax due to the Belastingdienst or to your country of residence.

9. Conflicts of interest

We earn a single management fee and do not receive retrocessions, kickbacks, or payment-for-order-flow. Our staff and directors are subject to a personal-account dealing policy that prohibits front-running and trading on material non-public information. Our conflicts-of-interest register is available on request.

10. Suitability and capacity for loss

Before we accept a mandate, we assess whether the strategy is suitable for your financial situation, knowledge and experience, investment objectives, and capacity for loss. If your circumstances change materially, please update your profile from the dashboard or contact us — your strategy may need to be reviewed.

11. Acknowledgement

By opening an account, you acknowledge that you have read and understood this Risk Disclosure and that you are prepared to bear the risks described. If anything is unclear, please contact us before funding your account.