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November 1, 2025

Change to Belmont Global Trend Fund

November 2025

Recent performance to lead to replacement of Eckhardt Trading Company

After several years of disappointing investment performance, the decision has been made to replace Eckhardt Trading Company (ETC) as the underling investment manager of the Belmont Global Trend Fund. ETC will be replaced initially by a concentrated multi-manager exposure although this may evolve into a pure feeder fund over time. This will be effected between January and February 2026 and will most likely involve a change of name to reflect the difference in investment strategy. Investors will be informed in due course by Bolder Fund Services, the fund administrator.

contact@belmontinvestments.com

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Nothing contained within this site shall be deemed or construed to constitute financial or other professional advice. You should consult your financial advisor or other professional advisor if you require any financial advice. In considering an investment into any investment product you should not rely solely on the information contained within these site pages, and should carefully read the appropriate prospectus, confidential explanatory memorandum and other relevant documentation and/or terms and conditions relating to any specific investment product before applying to purchase. Specifically, Belmont currently has an exclusive distribution agreement with APM Funds and any materials presented in this website should be viewed in that light, given Belmont’s obvious lack of objectivity.

Alternative Investments

Belmont is primarily involved in the distribution of hedge funds, managed futures funds and other alternative investments. Investors should be aware that these types of investments often involve substantially higher levels of risk than more traditional investments. These risks include, but are not limited to, the high degree of leverage that may be used, the lack of transparency provided to the investor as to the nature of the underlying investment, the illiquidity of the instruments that the investment may ultimately hold, the lack of a secondary market for these investments and the high degree of concentration of investment manager risk. Alternative investments are generally not available to the investing public and should only be considered after careful review of the offering materials associated with any particular fund. Prospective investors should also take advice from their tax, legal and financial advisors before proceeding. It should be note the information contained in this website is not directed at, nor is it intended for distribution to, or use by, persons in any jurisdiction in which the investment products are not authorized for distribution or in which the dissemination of information regarding the investment products is not permitted. The information or opinions contained herein should not be construed as an offer to sell or the solicitation of an offer to buy any investment product nor shall any such investment products be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. A more detailed explanation of the restrictions associated with investing in each investment product is located in the prospectus for each investment product. The capital value of investments and the income from them can go down as well as up and an investor may not get back the amount invested. Prospective investors should be aware of the underlying risks associated with investing in shares listed on certain stock markets which can be more volatile and less marketable than in more developed stock markets. The value of shares may rise or fall due to changes in the rate of exchange in the currency in which the funds are denominated if it is different from the investors’ own currency.

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South Africa – The funds shown in this website have not been authorised by the Financial Services Board and therefore may not be marketed to the investing public in South Africa.

United Kingdom – The content of this website is directed at persons who are eligible counterparties and/or professional clients (as defined in the Financial Services Authority (“FSA”) Handbook), and at persons whom unregulated collective investment schemes may lawfully be promoted to in the UK under The Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001. In the United Kingdom, we will only be able to provide you with detailed information regarding the funds if you are able to prove to that you may be assessed as a person of the type whom unregulated collective investment schemes may lawfully be promoted to in the UK under The Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001. This may be the case if, for example, you are person of financial sophistication and/or high-net worth. For persons accessing this website on the basis that they are either persons of financial sophistication (self declared or declared by an authorised persons) or high-net worth we are required to inform you of certain regulatory matters which we do so towards the end of this regulatory statement. This will involve you affirming that you have signed an appropriate declaration in the twelve months prior to you accessing this website. If you are in any doubt as to whether you fall to be assessed as a person of financial sophistication or high-net worth you should seek advice from a suitably qualified, authorised person.

In general, this site, the content and the investment products are not directed at or intended for distribution to any person (or entity) who is a citizen or resident of (or located or established in) any jurisdiction where the use of the site (or the purchase or sale of the investment products) would be contrary to applicable law or regulation or would subject Belmont to any registration or licensing requirement in such jurisdiction. Persons who wish to access this site are required by Belmont to inform themselves about and to observe any legal or regulatory restrictions which may affect their eligibility to access the site or to subscribe for interests in the investment products. Professional advice should be sought in cases of doubt.

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