Harvest Capital Strategies

Terms of Use

Management Website User Agreement, Disclaimer and Privacy Policies
Harvest Capital Strategies ("HCS") is an investment adviser based in San Francisco, California. HCS is a wholly owned subsidiary of publicly traded JMP Group Inc. (NYSE: JMP).

Website Use Agreement
By using this site, you agree to the following terms and conditions, which HCS may modify at any time without prior notice.

The information on this website has been published for informational purposes only and is not a solicitation or offer of any security or of any investment service or product. The content of this is provided solely for your personal use (subject to the limitations described herein), and the information may not be copied, reproduced, republished, transmitted or distributed in any way without the express written permission of HCS. Modification or use of the information for any purpose other than your personal use is a violation of the copyrights and other proprietary rights of HCS.

The information provided on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject HCS or its affiliates to any registration or qualification requirement within such jurisdiction or country. Neither the information, nor any opinion contained in this site, constitutes a solicitation or offer by HCS or its affiliates to buy or sell any securities, futures, options investment partnership interests or other financial instruments or services. The information on this website is not investment advice and should not be relied upon to make any investment decision.

Disclaimer of Warranty and Limitation of Liability
Although the information provided on this website is obtained or compiled from sources we believe to be reliable, the content of this website is provided as is without warranty of any kind (either express or implied). HCS does not assume any obligation to update the information and data on this website and does not guarantee that it is accurate, current, valid, complete or suitable for any particular purpose.

HCS makes no representations concerning this website and disclaims all express, implied and statutory warranties of any kind, including warranties of merchantability or fitness for a particular purpose to the fullest extent allowed by applicable law. In no event shall HCS or any of its affiliates, officers, employees, or third party vendors be liable or have any responsibility of any kind for any damages of any kind arising from information available on this website or the use site.

Privacy Notice
In accordance with the regulations applicable to financial institutions, the following are the privacy policies of HCS generally applicable to non-public personal information gained from this website and our business relationships:

Collecting Private Information
In the course of our relationship with you, we receive or develop information about you necessary to better service your account and your financial needs. This information may include: information you provide to us orally or on applications or other forms; information we develop about you in the course of providing our services to you, such as your account balance(s), the assets that we manage and transactions we place on your behalf and technical and other information about you that we may gather through your access to our website.

Protecting the Information
As a general rule, HCS does not sell, share or otherwise disclose this private information with others unless such sharing of information is necessary to provide our services. For instance, we may need to share information with our affiliates in order to render services to a customer. Further, we share information with certain third parties, such as our prime brokers, administrators, custodians, attorneys and auditors who, in the ordinary course of providing their services to us, may require access to information containing your non-public personal information. In addition, we may disclose your non-public personal information to others with your consent, where required by law, regulation or judicial process (such as a court order), or otherwise to the extent permitted under applicable regulations.

If you have any questions about our practices with respect to your non-public personal information, you may write to us at 600 Montgomery Street, Suite 1100, San Francisco, CA 94111 or call us at (415) 835-3900.

No Offer to Sell or Solicitation of an Offer to Buy
Neither this site nor any information contained herein shall be an offer to sell, nor a solicitation of an offer to buy, limited partnership interests in any of the funds managed or offered by HCS or any other service or product. Any such offering will only be made pursuant to the offering memorandum for the relevant fund or product which contains material information not contained herein and will supercede, amend and supplement this material in its entirety.

Links
This site may contain links to other websites. HCS is not responsible for the content of such other sites, whether or not HCS is affiliated with the sponsors of such sites. Access to the linked sites does not imply that HCS in any way endorses or approves such sites or their products or services. Using a linked site is at the user's own risk, and HCS is not responsible or liable for any damages that may arise in connection with linking to a linked site. Linked sites may be subject to rules and regulations, privacy provisions, confidentiality provisions, transfer of personal data provisions and other provisions that differ from the regulations or provisions to which this site is subject. HCS is not responsible for any such regulations or provisions and expressly disclaims any and all liability related to such regulations or provisions.

PATRIOT Act
In accordance with the Patriot Act and other regulations applicable to it, HCS advises such users of its site that it will fully comply with any and all regulations which may be promulgated by the U.S. Treasury Department under the USA PATRIOT Act, including those that encourage financial institutions to share information with regulatory agencies and law enforcement about individuals or organizations that may be "reasonably suspected based on credible evidence" of engaging in terrorist acts or money laundering. Accordingly, any information provided to HCS may be provided to regulatory, government or law enforcement agencies if requested or if HCS deems appropriate.

Potential Risks of Hedge Fund Investing
Offers and sales of hedge fund or other investment products are not made by this site and are only made by an offering memorandum when, as, and if provided by HCS, and in any case only provided to accredited investors (as defined in the Securities Act of 1933, as amended) and qualified clients (as defined in the Investment Advisers Act of 1940, as amended). Potential interested parties should be aware that investments in hedge funds, including funds of hedge funds, are highly speculative, illiquid and involve a substantial element of risk. Any potential investor in a hedge fund should be prepared and able to lose an entire investment without hardship to them.

Any potential interested parties should also be aware of the following general risks to hedge fund investing. All of the following are in addition to the specific risks which may be associated with any particular investment and should be considered in evaluating the merits and suitability of making such an investment:

Loss of Capital. Investors are at risk of losing all or a substantial amount of any investment.
Past Results. Past results are not a guarantee as to the future performance of an investment or a strategy.
Speculative Investment Practices. Among other things, hedge funds may engage in leverage and other speculative investment practices that may increase the risk of loss.
Illiquidity. Investments are subject to limitations on withdrawals that make fund interests relatively illiquid.
Infrequent Valuation Information. Funds managed by HCS are not required to provide frequent pricing or valuation information, and dissemination of tax information to investors may be delayed.
No Registration of funds or Interests. Neither the Funds managed by HCS nor the interests therein are registered with any regulatory authority and HCS does not intend to so register them.
Limited Access to Information on Investments. Information regarding underlying investments in a fund of funds may be severely limited, and the manager may be unable to obtain additional or verify such information provided.
Fees and Expenses. The fees and expenses charged by hedge funds are typically higher than the fees charged by registered mutual funds.
Certain Tax Risks. An investment in a hedge fund may involve certain tax risks. In addition, particularly with respect to funds of funds, delays in manager reporting may require investors to seek extensions of the deadline to file their tax returns.

The foregoing does not purport to be a complete explanation of the risks involved in investing in hedge funds. A fund's offering materials typically describe the risks and conflicts of interest relating to an investment in such fund. Each prospective investor who is qualified by HCS and receives these documents is urged to read them carefully to determine whether an investment in such fund is suitable for such investor in light of, among other things, such investor's financial situation, need for liquidity, other investments and other general considerations.

Unless otherwise noted, the information, trademarks, and logos on this web site are the property of Harvest Capital Strategies. The posting of such material at this web site shall not limit HCS's ownership interests in such material. Users of this web site may make single copies of information for their own personal use, but are prohibited from selling or republishing any portion of this web site without the prior written consent of HCS.