Last Updated: October 26th, 2023

Please read these Terms of Use (“Terms of Use”) carefully. CoreValues Alpha (“CVA”), a brand of the SEC Registered Investment Advisor MSA Power Funds LLC owns and operates this website, https://www.cvafunds.com/ (“Site”). By registering for, logging into, visiting and/or otherwise using the Site in any way, you indicate that you understand and intend these Terms of Use to be the legal equivalent of a signed, written contract, and you accept these Terms of Use and agree to be legally bound by them. If you do not agree to these Terms of Use, please do not access this Site or any pages thereof.

Reservation of Rights
We reserve the right, at our discretion, to change, modify, add, or remove portions of these Terms of Use at any time. Your continued use of the Site following reasonable notice of such modifications will be conclusively deemed acceptance of any changes to these Terms of Use. You agree that notice of changes to these Terms of Use posted on the Site constitutes reasonable and sufficient notice. At all times, you are bound by the then-current version of the Terms of Use and of all applicable laws.

Use of Content
The Content (as defined below) of this Site is available for informational purposes only. The posting of Content and access to this Site does not constitute, either explicitly or implicitly, any provision of services or products by CVA.

No Offer or Investment Advice
Nothing contained herein constitutes an offer, solicitation or recommendation regarding any investment management product or service, or the offer to sell or the solicitation of an offer to buy any security; nor shall any such services be provided, or securities be offered or sold, in any jurisdiction in which such an offer, solicitation, provision or sale would be unlawful. All Site Content is subject to applicable statutes and regulations.

The information provided is for informational purposes only. It does not constitute any form of advice or recommendation to buy or sell any securities or adopt any investment strategy mentioned. It is intended only to provide observations and views of the author(s) at the time of writing, both of which are subject to change at any time without prior notice. The information provided does not have regard to the specific investment objectives, financial situation or particular needs of any specific person who may read it, and investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation. Please refer to offering documents for further information concerning specific products.

Any reference to a particular company or security is not an endorsement by CoreValues Alpha of that company or security or a recommendation by CVA to purchase or sell such security. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of prior securities’ recommendations

This Site is published in the United States for residents of the United States. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this Site. U.S. investors are advised that not all investments or services described on this Site are available for sale in all states. Any potential investor should satisfy themselves that an investment in an CVA product is permissible under the rules and regulations of their domicile. The Site is not directed to any person in any jurisdiction where (by reason of that person’s nationality, residence or otherwise) the publication or availability of the Site is prohibited. Persons in respect of whom such prohibitions apply must not access the Site.

Forward Looking Statements
Certain of the statements contained herein may be statements of future expectations, opinions, and other forward-looking statements that are based on CoreValues Alpha's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue” and similar expressions identify forward-looking statements.

The matters discussed herein may also involve risks and uncertainties described from time to time in CVA's filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update any forward-looking information contained herein.

Conflicts of Interest
As a thematic investor with an open research ecosystem, CVA and its related persons use online activity as part of its investment research process. As a result, CVA and clients as well as its related persons may (but do not necessarily) have financial interests in securities or issuers that we discuss. However, any discussion of securities or issuers by CVA is not a recommendation to buy, sell or hold any particular security.

Investments
Past performance is no guarantee of future results. All investments have risks and can lose value, including their entire value. Equities may decline in value due to both real and perceived general market, economic, and industry conditions. The value of investments, and the income from them, can go down as well as up, and you may not recover the amount of your original investment. Please consult the offering documents of the product or service for additional information on investment risks. Any tax benefits referred to on this Site are subject to change and their availability and value will depend on your individual circumstance. Such investments are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not federally insured or guaranteed by the U.S. government, the FDIC, the Federal Reserve Board or any other agency. Some CVA products may not be available in or appropriate for a retirement savings plan. Please contact your financial adviser about any investment restrictions associated with your particular plan.

No Reliance
Although CVA has taken reasonable care to ensure that the information contained within this Site is accurate, no representation or warranty (including liability towards third parties), expressed or implied, is made as to its accuracy, reliability or completeness by CVA or their contractual partners. Opinions and any other Content are provided by CVA for personal use and informational purposes only and are subject to change without notice. Nothing contained on this Site constitutes investment, legal, tax or other advice and is not to be relied on in making an investment or other decision.

No Warranty
The information and opinions contained on this Site, including hyperlinks or references to other sites, are provided ‘as is’ without any warranty of any kind, either expressed or implied, to the fullest extent permissible pursuant to applicable law. You are responsible for evaluating the adequacy, accuracy, reliability, merchantability, non-infringement, completeness of any information or the content available on the Site or fitness for any particular purpose with respect to the Site or any of its Content. CVA further assumes no responsibility for, and makes no warranties that, functions contained on this Site will be uninterrupted or error-free, that defects will be corrected, or that this Site or the servers that make it available will be free of viruses or other harmful components.

Liability Waiver
Neither CVA nor any of their respective affiliates, directors, officers, registered representatives or employees, nor any third party vendor, will be liable or have any liability, whether in contract, tort, strict liability or otherwise, for any direct, indirect, incidental, consequential, punitive or special damages arising out of or in any way connected with your access or use or inability to access or use the Site or reliance on the Content, or any failure of performance, interruption, defect, delay in transmission, computer viruses or other harmful components, or line or system failure associated with the site, regardless of our knowledge thereof.

Where applicable law does not permit the limitation of liability, implied warranties or the exclusion or limitation of certain damages set forth above, the aggregate liability of CVA shall not exceed one hundred dollars ($100).

Indemnification
You hereby indemnify, defend, and hold CVA and any of their respective affiliates, directors, officers, registered representatives or employees, and any third party vendor harmless from and against any and all liabilities, judgments, fines, damages, settlements and costs (including reasonable attorneys’ fees and disbursements) incurred in connection with any claim arising out of any breach by you of these Terms of Use or claims arising from your use of this Site. You will cooperate with us in the defense of any claim. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you.

Events Beyond CVA’s Control
You expressly absolve and release CVA and all of its officers, directors, employees, registered representatives, shareholders, legal representatives, attorneys, agents, successors and assigns, from any claim of harm resulting from a cause beyond its control including, but not limited to, the failure of electronic or mechanical equipment or communication lines, telephone or other interconnect problems, computer viruses or software failures, unauthorized access, theft, operator errors, severe weather, earthquakes, or natural disasters, strikes or other labor problems, wars, acts of domestic or foreign terrorism or governmental restrictions. CVA does not warrant that this Site will be available at any time or that your access to this Site will be uninterrupted, timely or free from viruses or other harmful components. CVA reserves the right to cease operating this website or to terminate your access and use of any part of this Site at any time without notice and for any reason.

User Representations
You represent and warrant to CVA that you will not use this Site for any purpose that is unlawful or prohibited by these Terms of Use, including but not limited to attempting or actually: (a) disrupting, impairing or otherwise interfering with the operation or integrity of the Site or circumventing any Site security system; (b) collecting any information about other users of the Site; (c) systematically, or by any automated means, extracting Content or other information or data contained in the Site to populate databases or other sites; or (d) engaging in any fraudulent or manipulative activity with respect to issuers, securities or markets. CVA may terminate your access and use of any part of the Site for such violations.

You further agree not to: (a) make any representations, warranties or guarantees on CVA’s behalf or with respect to the Site, Content or data; (b) make any false or misleading representations with regard to CVA, the Site, Content or data; or (c) participate or engage in any illegal, deceptive, misleading, unethical, or improper practices.

Linked Sites
Certain hyperlinks or referenced websites on the Site may for your convenience forward you to third parties’ websites, which generally are recognized by their top level domain name. Any descriptions of, references to, or links to other products, publications or services do not constitute an endorsement, authorization, sponsorship by or affiliation with CVA with respect to any linked site or its sponsor, unless expressly stated by CVA. Any such information, products or sites have not necessarily been reviewed by CVA and are provided or maintained by third parties over whom CVA exercises no control. CVA expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites to the extent permitted by applicable law. CVA reserves the right to terminate any hyperlink or hyperlinking program at any time.

Information Submitted By You
CVA’s usage of your personal information is governed by our Privacy Policy, which forms part of these Terms of Use. You should not submit any confidential or proprietary information via the Site. By submitting any information or material to us through the Site, you grant us an unrestricted, irrevocable, worldwide, royalty-free, non-exclusive license to use, reproduce, display, perform, modify, transmit and distribute those materials or information. You also agree that CVA is free to use for any purpose any ideas, concepts, know-how or techniques that you submit to us through the Site. CVA shall not be subject to any obligations of confidentiality regarding submitted information, except as agreed to by CVA or as otherwise specifically agreed or required by law. You agree not to use this Site to upload, display or distribute any materials that are defamatory, threatening, obscene, harassing, or otherwise unlawful, or that incorporate the copyrighted, confidential or proprietary material of any other person or entity. To the extent that you interact with CVA on social media platforms, remember that the manner in which social media platforms use, store, and disclose your information is governed by those third-parties.

Jurisdiction, Severability
Any action arising out of these Terms of Use or the Site shall be litigated in, and only in, courts located in New York, and you agree to submit to the exclusive jurisdiction of those courts and further agree that they are a convenient forum for you.

In the event that any provision of these terms is held unenforceable, the validity or enforceability of the remaining provisions will not be affected, and the unenforceable provision will be replaced with an enforceable provision that comes close to the intention underlying the unenforceable provision.

Social Media Disclosure
CVA and those that post on CVA’s behalf could be a client or investor in CVA products or services, and this incentivizes them to speak positively about the firm.

You may choose to engage with us on social media, including those that are linked from our Site. CVA’s social media accounts represent the opinions of CVA as a firm and certain CVA team members maintain social media accounts that represent the opinions of individual analysts or other CVA team members. Social media posts are not necessarily the opinion of CVA as a whole or all of its team members. You are reminded that CVA and its related persons can and do have investments in the clients and securities being discussed, and so are incentivized to speak well of those clients and securities. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of prior securities’ recommendations.

You might also see and interact with content posted by third-parties on CVA’s social media pages. To the extent that those comments are positive or speak to someone’s experience with the firm or its personnel, you are reminded that the third-party is not receiving compensation for that post but certain third-parties (e.g., a placement agent or distributor for a private fund) might be incentivized to post because they are receiving fees for distribution services. Any third-party that has a business relationship with CVA could be incentivized to post positively to maintain that relationship and any related compensation.

CVA collects and receives information from you when you interact with our social media pages, accounts or via posts you make on social media platforms. If you choose to make any of your activities or other content available through such platform, including on our pages, or you engage in other activities in connection with the platform, your own friends and followers that you have enabled, and potentially the general public, will be able to view those contributions and activities.

Glossary:

Alpha: Excess return of an investment relative to the return of a benchmark index

Disclosures:

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call 855-316-3778 or visit our website at https://cvafunds.com/. Read the prospectus or summary prospectus carefully before investing.

Investing involves risks and the possible loss of principal.

Growth Investing Risks. The Fund will invest in companies that appear to be growth-oriented. Growth companies are those that the Sub-Adviser believes will have revenue and earnings that grow faster than the economy as a whole, offering above-average prospects for capital appreciation and little or no emphasis on dividend income.

China Investing Risks. The Chinese economy is generally considered an emerging market and can be significantly affected by economic and political conditions and policy in China and surrounding Asian countries. A relatively small number of Chinese companies represent a large portion of China’s total market and thus may be more sensitive to adverse political or economic circumstances and market movements. The economy of China differs, often unfavorably, from the U.S. economy in such respects as structure, general development, government involvement, wealth distribution, rate of inflation, growth rate, allocation of resources and capital reinvestment, among others. The Public Company Accounting Oversight Board (“PCAOB”), which regulates auditors of U.S. public companies, has warned that it lacks the ability to inspect audit work and practices of PCAOB-registered accounting firms in China and Hong Kong. The PCAOB’s limited ability to oversee the operations of accounting firms in China and Hong Kong means that inaccurate or incomplete financial records of an issuer’s operations may not be detected, which could negatively impact the Fund’s investments in such companies. Under China’s political and economic system, the central government has historically exercised substantial control over virtually every sector of the Chinese economy through administrative regulation and/or state ownership. In addition, expropriation, including nationalization, confiscatory taxation, political, economic or social instability or other developments could adversely affect and significantly diminish the values of the Chinese companies in which the Fund invests. International trade tensions may arise from time to time which can result in trade tariffs, embargoes, trade limitations, trade wars and other negative consequences.

Emerging Markets Risk. Investments in securities and instruments traded in developing or emerging markets, or that provide exposure to such securities or markets, can involve additional risks relating to political, economic, or regulatory conditions not associated with investments in U.S. securities and instruments.

Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio.

New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

Distributed by Foreside Fund Services, LLC.