PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. There is a substantial risk of loss in trading commodity futures and options.

The indices selected to generate the above comparison are not available as a directly investible product. Generally, no individual can purchase an actual index as an investment holding for his or her portfolio. Please consider that any index performance is for the constituents of that index only and does not represent the entire universe of possible investments within that asset class. Limitations and biases to indices include survivorship, self reporting, instant history, etc.

The Barclay CTA Index is a leading industry benchmark of representative performance of commodity trading advisors. There are currently 416 programs included in the calculation of the Barclay CTA Index for 2021. The Index is equally weighted and rebalanced at the beginning of each year. Source : Bloomberg BARCCTA Index

The S&P 500 TR index is an equity index calculated and published on the website of the American index provider Standard & Poor’s. The index is made up of 500 large companies listed on the stock exchanges in the United States (NYSE or NASDAQ) and covering all sectors of economic activity. Its value is weighted by the market capitalization of the companies contained in the index.TR stands for Total Return therefore considering that dividends are reinvested. Source : Bloomberg SPXTR

Standard & Poors makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any data contained herein. The Bloomberg data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by Bloomberg or Standard & Poors. None of the Bloomberg or S&P500 data are intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

Access to information about SWARM investment strategy may be subject to restrictions with regard to certain persons or certain countries. No products and/or services may be offered by Rcube asset management to an individual if the law in his country of origin or any other country concerning the person, product or service prohibits it. You should carefully consider whether such trading is suitable for you in light of your financial condition. The high degree of leverage that is often obtainable in commodity interest trading can work against you as well for you. The use of different strategies utilized in commodity interest trading and significant considerations should be given to which strategy is appropriate for your particular financial situation. All investments in the commodity interest market should be made with risk capital only.

The views, comments, prices, data and other information and opinions that Rcube Asset Management is likely to express on the markets and/or financial instruments in particular are not warranted as to completeness or accuracy and cannot engage its responsibility. This document has been produced for information purposes only and does not constitute an offer or a solicitation for the purpose of investing in this Program. The investor is the sole judge of the appropriateness of the transactions that he may have to conclude.

Data from various internal and external sources are communicated for information purposes only and subject to errors or omissions.

SWARM is only open to Professional Investors under EU regulation or Accredited Investors under equivalent regulations as well as Qualified Eligible Persons under US regulation. This document neither constitutes an offer of products or services, a proposal or invitation to invest in securities, an invitation to buy or sell securities or any other financial product or investment, a recommendation, a contract.