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Special Legal Information regarding the Investment Fund

1. Consent
You are now given access to the Actively Managed Certificate (AMC) section of the website of Sectoral Asset Management Inc. ("Sectoral") . This website, referred to hereinafter as the"Sectoral Website", contains information on investment instrument.

2. Limited Access
The Sectoral Website contains information and opinions on financial products registered and managed in various countries. Those webpages must not be accessed by persons who (in particular on the basis of their nationality and/or residence) are subject to a jurisdiction prohibiting publication of the contents of this Sectoral Website or access to the Sectoral Website (for whatever reasons). Persons to whom these restrictions apply are not allowed access to the Sectoral Website. Please note in particular that the financial products distributed by us are not authorized for distribution in the United States of America (USA) or to U. S. persons. Sectoral Asset Management Inc does not distribute the AMC in Canada.

3. No Advice/No Offer
The information and opinions published on Sectoral Website are not to be construed as investment advice or any other kind of advice on legal, tax, financial or other issues. They are purely for information. Subscriptions should in any event be made solely on the basis of the current sales prospectus and the key investor information document (KID). You are also recommended to contact your account manager or other advisors before making any investments.

Interested parties may obtain the aforementioned documents free of charge from the Investment Manager:

Sectoral Asset Management Inc.
1010 Sherbrooke Street West, #1610
Montreal, QC H3A 2R7

Past performance is not a reliable indicator of current or future performance. Performance data take no account of the commissions and costs charged when units are issued and redeemed, as well as any custodian fees or withholding tax that could potentially reduce the value.

4. No Liability
Liability of Sectoral for damage of any kind (including consequential damage) directly or indirectly resulting from access to the Sectoral Website shall be excluded except where there is intent or gross negligence.

5. Risk Considerations
In principle, past performance of any investment instrument is no guarantee of positive performance in the future. Moreover, investments denominated in foreign currencies are directly and indirectly subject to exchange rate fluctuations. Distributions made in connection with investment instruments may also vary. Investors thus face the risk of not recouping their original investment in full. Even a total loss cannot be ruled out. Please study carefully the risks inherent in an investment instrument, in particular the risk considerations contained in the current sales prospectus of the respective investment product. Investors are also alerted to the fact that the liquidity of investment instruments may be limited.

6. Intellectual Property
All elements contained on the Sectoral Website are protected by intangible property rights and are owned by Sectoral or third parties.

The downloading or printing of elements of the Sectoral Website does not involve the transfer of any rights whatsoever, particularly no rights relating to software, trademarks or elements of the Sectoral Website. Notices relating to copyrights and brands must neither be changed nor removed.

The reproduction of elements of the Sectoral Website in whole or in part, in whatever form (particularly in electronic or printed form), is only allowed with full acknowledgment of source. The publication of reproduced elements of the Sectoral Website is only allowed with the prior written consent of Sectoral and with full acknowledgment of source.

7. Changes to the Terms and Conditions of Use
Sectoral reserves the right to change these "Terms and Conditions of Use" from time to time. Therefore, please read these "Terms and Conditions of Use" whenever you access the Sectoral Website and check whether you also agree with the new version. If you do not understand or do not accept any provisions of the present "Terms and Conditions of Use", please leave the Sectoral Website.

8. Links to other Websites
The Sectoral Website contains links to websites which are not checked and offered by Sectoral. Should you activate such links, you leave the Sectoral Website at your own risk. Sectoral has not investigated such websites and is not responsible for their contents.

9. Applicable Law/Place of Jurisdiction
Sectoral is responsible for the content and publications on this site. The use of the Sectoral Website and the "Terms and Conditions of Use" are subject to Canadian law. Exclusive place of jurisdiction shall be Montreal, Canada.