Onside Issue 3 - Summer 2015 - Cover2

Important Notice - Marketing Communication: This document has been issued by Seneca Partners
Limited who are authorised and regulated by the Financial Conduct Authority.
Seneca refers to Seneca Partners Limited, Seneca Investments Limited, Seneca Investment Managers
Limited and Acceleris Capital Limited. The information in this document does not constitute advice
or a personal recommendation and you should not make any investment decisions on the basis of it.
This document is for the information of the recipient only and should not be reproduced, copied or
made available to others. This document does not take into account the particular investment objectives,
financial situations or needs of individual clients. You are advised to contact your investment adviser as
to the suitability of each investment, for your own circumstances and before taking any action. Taxation
treatment depends on the circumstances of each individual and may be subject to change. This document
has been prepared with all reasonable care and is not knowingly misleading in whole or in part. The
information herein has been obtained from sources which we consider to be reliable but its accuracy
and completeness cannot be guaranteed. Directors, staff and clients may have a position or engage in
transactions in any securities mentioned. No responsibility is taken for any losses, including, without
limitation, any consequential loss, which may be incurred by clients acting upon the contents of this
document. The opinions and conclusions given are those of Seneca Partners Limited and are subject to
change without notice. In addition, it should be remembered that past performance is not necessarily a
guide to future performance and the value of an investment and any income from it can fall as well as
rise in value, therefore your capital is always at risk and you may not get back the amount originally
invested. Shares in smaller companies tend to be traded less frequently and in smaller amounts than those
of larger companies, this can make the timing of sales and purchases more difficult. Clients should be
aware that companies whose shares are traded on an unregulated market for example the Alternative
Investment Market (AIM) carry a higher degree of risk than companies whose shares are listed on a
regulated market for example the London Stock Exchange (LSE). Unquoted shares are by their nature
illiquid and may not be sold easily and may not be sold for value. This document is classified as being
"non-independent" Investment Research and is a marketing communication as defined by the FCA's
Conduct of Business Rule 12.3. It has not been prepared in accordance with legal requirements designed
to promote the independence of investment research and is not subject to any prohibition on dealing
ahead of the dissemination of investment research.
Seneca Partners Limited and Seneca Investment Managers Limited are Authorised and Regulated by
the Financial Conduct Authority. Acceleris Capital Limited is an Appointed Representative of Seneca
Partners Limited. Seneca Partners Limited's registered office is at 12 The Parks, Haydock, WA12 0JQ.



Table of Contents for the Digital Edition of Onside Issue 3 - Summer 2015

Contents
Onside Issue 3 - Summer 2015 - Cover1
Onside Issue 3 - Summer 2015 - Cover2
Onside Issue 3 - Summer 2015 - Contents
Onside Issue 3 - Summer 2015 - 4
Onside Issue 3 - Summer 2015 - 5
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Onside Issue 3 - Summer 2015 - Cover3
Onside Issue 3 - Summer 2015 - Cover4
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