Eng / Heb

Terms and Conditions Agreement

Sphera Fund Management Ltd. (“SFML”) welcomes you to its website (the “Site”). By accessing the information made available on the Site you hereby agree to the following:

Information Purposes Only

The information contained in this Site does not constitute a distribution, an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
The information in this Site does not constitute investment, legal, tax, or other advice of any kind or nature and should not be deemed as such; accordingly, none of the information made available in this Site may be relied upon in making an investment decision. Investors should seek financial advice regarding the appropriateness of investing in any securities (generally, and in any investment fund particularly).
Subscription for any investment fund referred to herein (each, a “Fund”) will only be made on the basis of a private placement memorandum (or other offering documents) applicable to such Fund, which includes written disclosure about the Fund and the identification and description of applicable risk factors, and which should be carefully reviewed and considered independently by each prospective investor. Subscription for interests in any Fund will only be available to sophisticated, experienced and professional prospective investors, to whom such subscription do not require publishing a prospectus and which will not be considered to be a public offering, under the securities laws of any applicable jurisdiction, unless an available exemption is available thereunder.
This Site and its features may be expanded, limited or modified at any time by SFML for any reasons, without advance notice or reason. SFML may also in its sole discretion, and at any time, discontinue providing, temporarily or permanently, any or this entire Site, without notice.
This Site is NOT directed to, and should not be used by, retail customers.

Risk Factors

Interests in the Funds are only presented to sophisticated and professional investors and are not suitable to any other person. An investment in a Fund presents risks, which include, inter alia, the following:

  • Performance can be volatile, which may result in the investors loosing a substantial part of his investment in a Fund. Past performance is not necessarily an indicator, and is by no means a guarantee, of future performance of a Fund.
  • There is no guarantee that a Fund will achieve its investment objective.
  • As a general rule, investors do not retain any managerial authority over the Fund.
  • Restriction on liquidity may, and are likely to be, applied with respect to an investor investment in a Fund.
  • FML may be subject to certain conflict of interests.


All information and content on this Site is furnished “AS IS” without representation or warranty of any kind whatsoever, express or implied. SFML and its affiliates do not assume any liability for any loss or damage of any kind, arising, whether direct or indirect, caused by the use of any part of the information provided in the Site. Further more, SFML shall not be responsible or liable for any errors, omissions or inaccuracies in the content of this Site. The user shall have sole responsibility to determine whether, how and to what extent its intended use of the information provided in this Site. This Site content may be modified at any time by SFML, without advance notice or reason, and SFML shall have no obligation to notify of any corrections or changes to this Site content.
SFML do not guarantee that access to or use of this Site or any services will be uninterrupted or error free, and SFML shall not be liable for any feature not being accessible or for any unavailability of its Site.
SFML disclaims all warranties, representations and conditions of any kind, whether express or implied, including, but not limited to the implied warranties and conditions of merchantability, fitness for a particular purpose and non-infringement, with respect to the use of this Site, or the accuracy, completeness, timeliness or currentness of its content, in any way and for any purpose.

Potential Conflict of Interests

SFML and its affiliates also provide discretionary investment management services to managed accounts and number of investment funds, some of which may have investment programs substantially similar to that of another investment Fund.
SFML and other parties affiliated with it may continue to buy and sell securities for their own account or the account of others, including such securities as are held by any of the Fund.


This Site contains links to websites operated by other parties. Neither SFML nor any of its affiliates control the content or accuracy of information on such websites and therefore assumes no responsibility or liability to any information contained on such websites. The links are provided for your convenience and reference only, and such websites have not been verified or confirm by SFML or any of its affiliates.

Copy Rights

No permission is granted to copy, distribute, modify, post or frame any text, graphics, chart, video, audio, software code, or user interface design or logos. The entire Site is subject to copyright with all rights reserved. Without SFML prior written permission, no information contained in this Site may be duplicated, presented, published or disseminated in any way.