This Prospectus should be read in its entirety before making an application for shares. If you are in any doubt about the contents of this Prospectus, you should consult your professional financial adviser. Cicero Fonder is offering shares on the basis of the information contained in this Prospectus and in the documents referred to therein.

Read Prospectus ucits

Cicero Focus and Peab-fonden which are under management by Cicero Fonder AB, are so called special funds governed by the Swedish Investment Funds Act (2004:46). Thus funds can only be marketed in Sweden. Cicero Sverige, Cicero Avkastning, Cicero World Wide, Cicero World Asset Selection, Cicero World 0-50 are, however, ucits-funds, which can be marketed outside Sweden.

There are no guarantees that an investment in Cicero Fonder will not result in a loss. Historical return is no guarantee of future return.

Cicero Fonder AB has no responsibility for determining that an investment from other country than Sweden is being made in accordance with the law of such country.

Any dispute, controversy or claim arising out of or in connection with information regarding Cicero Fonder's all Funds shall be settled in accordance with Swedish law exclusively by Swedish courts.

The Fund and the Shares

A securities fund is a fund that consists of securities and financial instruments and that is formed by the provision of capital by the public. Those who have provided the capital own the fund. The fund management is regulated by Finansinspektionen (The Swedish Financial Supervisory Authority) by the Swedish Investment Funds Act (2004:46).

The fund company represents the shareholders on issues pertaining to the fund, makes decisions relating to the property belonging to the fund and exercises such rights as arise from the fund. The fund cannot acquire rights or take on obligations; nor can it engage in litigation in a court or any other authority. The fund is an independent tax subject.

Investors should understand that all investments involve risks. Each fund is intended for medium to long-term investment. However, all investments involve risks and there can be no assurance that the funds will achieve their investment objectives. Investors should remember that the price of shares and any income from them may fall as well as rise and that shareholders may not get back the full amount invested. Past performance is not necessarily a guide to future performance.

Where the reference currency of a relevant fund and/or the currencies of the markets in which such fund invests varies from the investor’s home currency, or where the currency of a relevant fund differs from the currencies of the markets in which such fund invests, there is a potential currency risk and the prospect of additional loss or gain to the investor greater than the usual risks of investment.

Cicero Focus, Cicero MÖ Sverige, Cicero TIME, Cicero Global and Peab-fonden which are under management by Cicero Fonder AB are so called special funds governed by the Swedish Investment Funds Act (2004:46). Thus funds can only be marketed in Sweden. Cicero Sverige, Cicero Biotech & Healthcare, Cicero Avkastning, Cicero World Wide, Cicero World Asset Selection and Cicero World 0-50 are, however, ucits funds, which can be marketed outside Sweden.

There are no guarantees that an investment in Cicero Fonder will not result in a loss. Historical return is no guarantee of future return.

Cicero Fonder AB has no responsibility for determining that an investment from other country than Sweden is being made in accordance with the law of such country.

Any dispute, controversy or claim arising out of or in connection with information regarding Cicero Fonder's all Funds shall be settled in accordance with Swedish law exclusively by Swedish courts.