Derivatives such as futures, swaps, and other investment strategies have certain disadvantages and risks. Futures require the posting of initial and variation margin. Therefore, a portion of risk capital must be preserved for this purpose rather than being allocated to a manager. Benchmarks may be comprised of published benchmarks for which there are no liquid futures contracts resulting in tracking error. Also, some intra-period mispricing may occur. Swaps require periodic payments, are less liquid than futures, and have counterparty/credit risk. Some investment strategies require a cash investment equal to the desired amount of exposure.
The information provided on this site is provided without a charge as a convenience to visitors, and to be used for informational purposes only. While The Clifton Group ("Clifton") has tried to provide accurate and timely information, there may be inadvertent technical or factual inaccuracies and typographical errors for which we apologize. We reserve the right to make changes and corrections at any time, without notice. The information provided on Clifton’s site is provided "AS IS" "AS AVAILABLE" and is qualified in its entirety by Clifton’s Form ADV, which is on file with the U.S. Securities and Exchange Commission. Clifton does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained on Clifton’s site and Clifton expressly disclaims all liability for errors and omissions in these materials and for the use or interpretation by others of information contained on the site. Clifton may change information contained herein at any time and makes no commitment to update the information contained on the site. Decisions based on information contained on Clifton’s site are the sole responsibility of the visitor, and in exchange for using Clifton’s site, the visitor agrees to hold Clifton harmless against any claims for damages arising from any decisions that the visitor makes based on such information. Nothing contained in Clifton’s site constitutes investment advice.
Material from www.thecliftongroup.com and any other World Wide Web site owned, operated, licensed, or controlled by Clifton or any of its related, affiliated, or subsidiary companies (together, "Clifton") may not be copied or distributed, or republished, uploaded, posted, or transmitted in any way, without the prior written consent of Clifton EXCEPT: you may download one copy of the material on one computer for your personal, non-commercial home use only, provided you do not delete or change any copyright, trademark, or other proprietary notices. Modification or use of the materials for any other purpose violates Clifton’s intellectual property rights. The material on this site is provided for lawful purposes only. If you downloaded software from our site, the software, including all files, images, contained in or generated by the software, and accompanying data (together, the "Software") are deemed to be licensed to you by Clifton. Neither title nor intellectual property rights are transferred to you, but remain with Clifton, who owns full and complete title. You may not resell, decompile, reverse engineer, disassemble, or otherwise convert the Software to a human perceivable form.
While Clifton provides the information on this server to anyone, we retain copyright on all text and graphic images. This means that unless you are a broker or financial adviser authorized by Clifton, you may not: distribute the text or graphics to others without the express written permission of Clifton, "mirror" or include this information on your own server or documents without our permission, modify or re -use the text or graphics on this system. You MAY: print copies of the information for your own personal use; store the files on your own computer for your personal use only; reference hypertext documents on this server from your own documents. Clifton reserves all other rights.
Some of the sites listed as links herein are not under the control of Clifton. Accordingly, Clifton makes no representations whatsoever concerning the content of those sites. The fact that Clifton has provided a link to a site is NOT an endorsement, authorization, sponsorship, or affiliation by Clifton with respect to such site, its owners, or its providers. Clifton is providing these links only as a convenience to you. Clifton has not tested any information, software, or products found on these sites and therefore cannot make any representations whatsoever with respect thereto. There are risks in using any information, software, or products found on the Internet, and Clifton cautions you to make sure you understand these risks before retrieving, using, relying upon, or purchasing anything via the Internet.
Electronic Mail (email) submitted to this Web site should be considered neither secure nor confidential, since messages submitted to this site travel through the Internet, which is not a secure medium. Clifton makes no representation whatsoever concerning the security or confidentiality of your mail messages and specifically makes no representation that any e-mail message submitted through this Web site will be received by Clifton.
All product names appearing in type form different from that of the surrounding text, "The Clifton Group, Clifton," the Clifton logo, are trademarks owned by or licensed by Clifton, its subsidiaries, or its affiliates, and may not be reproduced without the express written consent of The Clifton Group. For further information, please contact Thomas J. Abood, General Counsel, by e-mail or at (612) 376-7118.
Except as described otherwise, all materials in the Clifton site are made available only to provide information about The Clifton Group. Clifton controls and operates this site from Minneapolis, Minnesota, United States of America and makes no representation that these materials are appropriate or available for use in other locations. If you use this site from other locations you are responsible for compliance with applicable local laws. Some software from this site may be subject to export controls imposed by the United States and may not be downloaded or otherwise exported or re-exported: (a) into (or to a national or resident of) any country to which the U.S. has placed an embargo, including without limitation Cuba, Iran, Iraq, Libya, North Korea, Syria, or Yugoslavia, (b) to everyone on the U.S. Treasury Department’s Specially Designated Nationals list, or (c) the U.S. Commerce Department’s Table of Denial Orders. If you download or use the Software or other content from this site you represent and warrant that you are not located in, or under the control of, or a national of any such country or any such list. These Terms and Conditions will be governed and be interpreted pursuant to the laws of the States of Minnesota and Delaware, United States of America, notwithstanding any principles of conflict of law. If any part of these Terms and Conditions is unlawful void, or unenforceable, that part will be deemed severable and will not affect the validity and enforceability of any remaining provisions. This is the entire agreement between the parties relating to the use of this site. Clifton can revise these Terms and Conditions at any time by updating this posting. The Clifton site may describe products and services that are not available worldwide. Clifton makes no offers of products or services outside the United States of America.
Clifton Client Privacy Pledge
At The Clifton Group Investment Management Company our clients' trust is important to us. Because you trust us with your financial and other information, we take the safeguarding and respect of this information very seriously. In order to maintain that trust we pledge to protect your privacy by striving to adhere to the policy outlined below. The information we obtain is limited but may come to us through account opening documents and custodial statements. The type of information collected is financial information, transaction and various other information and is important to our providing the best services to you. There may be times when client information is provided to our affiliates to enable us to receive services such as accounting, legal and compliance matters. Also, we provide such client information to other third party services providers when it is essential for the servicing of your account (e.g., transactional services). We may disclose such information to other third parties that we believe it necessary for the conduct of our business or where disclosure is required by law. We will subject such disclosures to confidentiality agreements. It is our policy that we do not provide current and former customer names and account information to any outside firms or organizations (such as catalogue or direct mail companies) unless there is a pre-existing relationship you have established such as a custodian or professional service provider (i.e. attorney, accountant) or in situations where we have a legal or regulatory obligation to provide such information. It is our policy to not provide any other businesses with any information specific to accounts maintained at Clifton for the purpose of marketing or business leads. It is our policy regarding documentation containing sensitive client information (i.e. name, address, ssn, account number, credit information, etc) to dispose of it in a manner whereby the information cannot be read or reconstructed. This includes shredding the information on a timely basis. It is our policy to remove all data from computers so that the information cannot be restored or reconstructed before the computer is donated or disposed. Information is protected in various manners. All employees are subject to a policy regarding confidentiality. They are subject to disciplinary action for violating this confidence. In addition, our internal systems are secured through encryption technology and passwords and physical safeguards. We strive to maintain the confidentiality of your account and any other information.
Clifton reserves the right to withdraw access to the site and revise the software, materials, information, and the services and products described in this Web site, at any time without notifying the user.