NS Management Ltd

Item 7. Types of Clients                           the parameters of the following five
                                                   investment strategies, which serve as the
NSM offers investment management                   basis for tailor-made portfolios. Each client’s
services to high and ultra-high net worth          specific portfolio will differ based on his/her
individuals and their families, as well as to      unique situation and objectives within the
such foundations, trusts, estates, holding         parameters of the selected strategy.
companies or other estate planning
structures which they may have established.

In addition to serving US resident clients,
NSM provides its services to non-US
resident clients. The provisions of the
Advisers Act do not apply to the
management services provided by NSM to
these non-US clients. This brochure

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NS Management Ltd, CRD: 297781

 Investment     Asset Classes              Max in   Investments in private funds or structured
 Strategy                                  %        products may be limited to “accredited
 Cash           Money market and           100
 Management     bonds
                                                    investors” or “qualified purchasers,” and may
 Income         Money market and           100      require investors to lock-up their assets for a
                bonds                               period of time. These investments may have
                Shares and products        25       limited or no liquidity and they may involve
                with an equity character            risks different from those incurred when
                Alternative investments
                & Commodities              30       investing in registered funds and other
 Balanced       Money market and           75       publicly offered and traded securities. In
                bonds                               discretionary mandates, NSM may invest
                Shares and products        60       client accounts in such securities without
                with an equity character            client consent. NSM relies on the valuation
                Alternative Investments
                & Commodities              40       and performance data provided directly from
 Capital        Money market and           50       the private funds. Private funds may often be
 Growth         bonds                               delayed in providing NSM with the valuation
                Shares and products        75       information; therefore, NSM may likewise be
                with an equity character
                Alternative Investments
                                                    delayed in reporting this information to the
                & Commodities              40       client.
 Equity         Money market and           20
                bonds                               NSM will rely on the accuracy of a client’s
                Shares and products        100      representations in making corresponding
                with an equity character
                Alternative Investments             representations regarding the investment
                & Commodities              60       restrictions on behalf of a client’s account in
                                                    connection with certain derivative, private
Types of Securities                                 fund or other similar investments with
                                                    qualification restrictions. NSM requires
NSM offers asset management and advisory            notification by the client if the client’s
services on the following types of securities       representations become inaccurate.
and     transactions:     exchange-     listed
securities, securities traded over-the-             In certain cases NSM may recommend and
counter, securities issued by non-US issuers,       invest in real estate securities. NSM does not
corporate debt securities (and other                invest directly in real estate.
commercial paper), certificates of deposit,
investment company securities such as               Material Investment Risks
mutual funds, U.S. or foreign government
securities, exchange traded funds, foreign          Clients should bear in mind that investing in
exchange transactions, certain derivatives or       securities involves a risk of loss. Clients
structured products, options, alternative           should be prepared to bear the risk of losing
investments, precious metals and in certain         their investment in securities. Past
cases private fund investments. Some of             performance is not an indication as to future
these securities, particularly those issued         results.
outside of the US, may not be registered with
the SEC. In discretionary mandates, NSM is          Among other risks, all investments made by
able to invest clients in securities offered        NSM will be subject to market risk, liquidity
outside the US to non-US investors in               risk, and interest rate risk, and may be
reliance on Regulation S under the Securities       subject to credit and counterparty risk.
Act of 1933.                                        Further risks include risk in fluctuations of
                                                    commodity pricing, risk of loss due to political
                                                    and economic developments in foreign

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NS Management Ltd, CRD: 297781

markets, and risks involving movements in         market activity and large sales by major
the currency markets.                             investors, default, or other factors.
                                                  Developments in the credit market may have
...