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Disclaimer

Investments in real estate sector are subject to additional risks, such as, including but not limited to investments in illiquid securities, restriction on withdrawal and transfer of investments, title related disputes of the assets, project related delays, cost overruns and approval related delays, changes in market conditions, levy of additional or new taxes/duties, any regulatory changes etc.  Investors must before dealing and or transacting in any of the products must make their own investigation, seek appropriate professional advice and carefully read the Disclosure document/Contribution Agreement/ Client Agreement/ Private Placement Memorandum, as may be applicable, and all other relevant information material. Actual results may differ materially from those suggested in this note due to risk or uncertainties associated with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, inflation, etc. There is no assurance or guarantee that the objectives of the Fund/Portfolio will be achieved. Investment Manager's investment decisions may not be always profitable, as actual market movements may be at variance with anticipated trends. The investors are not being offered any guaranteed or assured returns. The information being showcased on this portal may be dated and the Investment Manager does not provide assurance for updating the same. No claims may be made or entertained for any variances between the performance depictions and actual returns. Neither ICICI Prudential Asset Management Company (the AMC) nor its Directors, employees shall be in any way liable for any variations noticed in the returns portfolio/Scheme. The investor shall not make any claim against the AMC against any losses (notional or real) or against any loss of opportunity for gain under various products, on account of or arising out of such circumstance/change in market condition or for any other reason.

Some real estate sector related disclaimers and risk factors:

  • A substantial portion of Portfolio Investments will be in equity or equity-related, debt instruments that, by their nature, involve business, financial, market and/or legal risks. Value of these investments may be affected among other factors by the performance of the underlying assets, interest rates and investor sentiment in general.
  • Most of the investments in real estate sector may be in unlisted companies and hence are exposed to illiquidity and valuation risk. Moreover, these unlisted companies are not regulated by the disclosure guidelines and investor protection norms that apply to listed companies.
  • The real estate development related investments held by the companies / structures in which the investments are made may be subject to specific development approvals and other real estate related regulatory / development rules. Therefore, investments are subject to development regulation related risks.
  • The progress of developments underlying the Real Estate investment's would depend on among other factors, the developer’s / joint development partner's ability to procure resources and execute the project in a timely and cost efficient manner. As a consequence, investors are subject to development execution risk.
  • The method of documentation of land records in India has not been fully computerized and is generally done manually with physical records of all land related documents. This could result in the updating process taking a significant amount of time or being inaccurate in certain aspects, and to that extent investors would be subject to title risk.
  • The valuation of securities arrived at by the Investment Manager may not be relevant for all periods and under all circumstances as they are subject to periodic variations and the risk of some other agencies valuing the same securities differently. The Investment Manager does not warrant that sale value of the securities will reflect the valuation arrived at by the Investment Manager and the Investment Manager does not in any manner provide any implied warranty on realizable value of the securities and any variation will be at the cost of the investor.
  • Property litigation in India is generally very time consuming and complicated and there is generally a preponderance of litigation with respect to property. If any property in which the investments by the Scheme in underlying assets have invested is subject to any litigation, this could have an adverse impact, financial or otherwise on the investments by the Scheme.
  • The success of investments in real estate securities depends on the ability of the Investment Manager, to source, select, complete and realize appropriate investments. The success of the investments will also depend upon the judgment made by the Investment Manager in reviewing investment proposals for the Scheme. The Investment Manager will have considerable latitude in its choice of Companies and the structuring of investments.
  • There can be no assurance that investors will be able to dispose of the portfolio investments which are distributed in-kind, if any. Moreover, there is no guarantee that the value of these investments will be realized at the time of distribution. If the investments are made in Alternative Investment Fund, the transferability of units in the fund will be restricted. In general, Investors will not be able to sell or transfer their units to third parties without the consent of the AMC as provided in the Fund documents.
  • By their nature, certain market risk disclosures are only estimates and could be materially different from what actually occurs in the future. As a result, actual future gains or losses could materially differ from those that have been estimated. The investments in this may not be suitable for all investors. Any person subscribing to or investing in any product/financial instruments should do so on the basis of and after verifying the terms attached to such product/financial instrument. Please note that past performance of the financial products, instruments and the Portfolio/Scheme does not necessarily indicate the future prospects and performance thereof. Such past performance may or may not be sustained in future.