LEGAL NOTICE

Important Legal Information – Terms and Conditions of Use

Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with mutual fund investments. Please read the Offering Memorandum before investing. Unless otherwise indicated and except for returns for periods less than one year, the indicated rates of return are the historical annual compounded total returns including changes in security value. All performance data assume reinvestment of all distributions or dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Performance returns for the Arrow Multi-Manager Funds are net of all expenses while performance returns of Arrow single manager funds are before performance fees. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer.

If you are a Canadian resident, you can obtain the applicable offering memorandum for each single manager and multi-manager hedge funds from your financial adviser or from Arrow Hedge by calling 1-877-327-6048.

This site should not be considered an offer to sell or a solicitation to buy securities of mutual funds to any person residing in the United States of America or in any other jurisdiction in which such an offer or solicitation is unlawful. Securities of the hedge funds managed by Arrow Hedge Partners Inc. will not be sold to any person residing outside Canada unless such sales are permitted under the law of their jurisdiction. Investors should contact their financial advisers for further details.

This communication is published by Arrow Hedge Partners Inc. Any commentaries and information contained in this communication are provided as a general source of information and should not be considered personal investment advice. Every effort has been made to ensure that the material contained herein is accurate at the time of publication. However, Arrow Hedge cannot guarantee its accuracy or completeness and accepts no responsibility for any loss arising from any use of or reliance on the information contained herein.

Facts and data provided by Arrow Hedge and other sources are believed to be reliable when posted. Arrow Hedge cannot guarantee that they are accurate or complete or that they will be current at all times. Information on this website is not intended to provide legal, accounting, investment or tax advice, and should not be relied upon in that regard. Arrow Hedge and its affiliates will not be responsible in any manner for direct, indirect, special or consequential damages howsoever caused, arising out of the use of this website.

Users of Arrow Hedge's website pages (the "web site") shall only be entitled to copy the web site for their own personal use but may not republish nor reproduce any substantial part of the web site in any manner whatsoever, including electronically reproducing the web site by "uploading," "downloading" or accessing the web site on to the Internet or any other local or international computer system, without the prior written permission of Arrow Hedge Partners Inc. An acknowledgment of the source must be included whenever Arrow Hedge material is copied or published. If you require further information on a permitted use or license to reproduce or republish any material, address your inquiry to the Marketing Department, Arrow Hedge Partners Inc., 36 Toronto Street, Suite 750, Toronto, Ontario M5C 2C5. Any infringement of Arrow Hedge's rights will result in appropriate legal action. Arrow Hedge disclaims any and all liability for any consequences, which may result from any unauthorized reproduction or use of this web site whatsoever.

Sites accessed by hypertext appearing in this website have been independently developed by parties other than Arrow Hedge Partners and Arrow Hedge does not guarantee the accuracy of information contained in such sites. The listing of an organization in this site should not be construed as an endorsement of its products or services.

Complete confidentiality and security is not yet possible over the Internet. Arrow Hedge advises that the Internet is not a secure medium and privacy cannot be ensured. Arrow Hedge and its affiliates will not be responsible for any damages you may suffer if you transmit confidential or sensitive information to us.

To receive an Offering Memorandum or request any further information, click here to contact us.

Disclaimer

Information pertaining to the Arrow Hedge Funds is not to be construed as a public offering of securities in any jurisdiction of Canada. The offering of units of the Arrow Hedge Funds is made pursuant to their respective offering memorandum only to those investors in jurisdictions of Canada who meet certain eligibility or minimum purchase requirements. Important information about the Arrow Hedge Funds, including a statement of each fund's fundamental investment objective, is contained in their respective offering memorandum, a copy of which may be obtained from your dealer. Read the applicable offering memorandum carefully before investing. Unit values and investment returns will fluctuate.

Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

E-Mail Disclaimer

NOTICE OF CONFIDENTIALITY
This communication including any information transmitted with it is intended only for the use of the addressees and is confidential.

If you are not an intended recipient or responsible for delivering the message to an intended recipient, any review, disclosure, conversion to hard copy, dissemination, reproduction or other use of any part of this communication is strictly prohibited, as is the taking or omitting of any action in reliance upon this communication.

If you receive this communication in error or without authorization please notify us immediately by return e-mail or otherwise and permanently delete the entire communication from any computer, disk drive, or other storage medium.