(A) Description of Our Advisory Firm. Nau Securities Limited (“NSL”, or “us”, “we” or “our”) is a United Kingdom domiciled Private Limited Company authorized and regulated by the Financial Conduct Authority (“FCA”) that was established in 2010. NSL is also registered with the U.S. Securities and Exchange Commission (“SEC”) as a registered investment adviser. As stated on the cover page of this Brochure, registration as an investment adviser does not imply a certain level of skill or training. NSL has been in business since January 18, 2010.
NSL wholly owns Nau Securities Inc. (“NSI”), a Delaware domiciled corporation whose primary business is to provide administrative support to NSL.
The principal owners and controlling persons of NSL and NSI are John N. Ferreira and Pedro Baptista (the “Principals”). References herein to “NSL” shall be deemed to include NSL’s affiliates, as applicable, unless the context otherwise requires.
(B) Types of Advisory Services We Offer. NSL offers independent research products which include fundamental research on companies (including issuers and their securities), sectors, industries and other analytical pieces. NSL’s research services focus primary on five areas of the Latin American market: banks, conglomerates, consumer, infrastructure and technology, media and communications. Such services are typically offered via a password protected website. NSL offers services primarily to institutional asset managers, pension funds, investment managers, and insurance companies. Such services typically relate to customized research projects regarding individual issuers/securities or sectors, and each such advisory relationship is governed by a separate, customized agreement. Such agreements do not involve trading or authority over a customer’s account, and accordingly, client restrictions on investing in certain types of securities are not applicable to NSL’s business. NSL also provides advisory consulting services to companies regarding environmental, social and governance issues, as well as investor engagement.
NSL’s business is limited to evaluating companies

(including issuers/securities) and sectors from a fundamental research perspective, with particular emphasis on the Latin American market. It is our belief that NSL’s independent research provides our clients with a valuable alternative perspective on a company/issuer, sector or industry’s prospects. As such, NSL provides advisory services, but it does not offer discretionary advice with respect to particular trading strategies, or strategies relating to other tradable instruments (e.g., futures, options).
NSL does not manage any assets directly or in an advisory capacity on an ongoing basis; rather, NSL is typically engaged to provide independent research services on an episodic basis (e.g., a specific research project) or a periodic basis (e.g., consulting with respect to a client’s portfolio on a quarterly or semi-annual basis). In such cases, NSL has no authority (discretionary or non-discretionary) over any customer’s assets.
In addition, Latin American based companies engage NSL to help them connect with institutional investors around the world (investor relations services) and to help them regarding ESG reporting and engagement with investors. Moreover, NSL also provides advisory services to non-US based companies and in this regard can act in raising capital as authorized by the Financial Conduct Authority to intermediate transactions on an agency basis. In the event that NSL is engaged by any US based companies or engages with US based investors for such services, it will participate in such activities under the rules of its chaperoning arrangement with Global Alliance Securities LLC (CRD# 167164). (C) Tailoring of Our Advisory Services. NSL tailors its independent research services to each client, as described in each client’s customized advisory agreement or engagement letter. As stated above, such customized research focuses on the Latin American market.
(D) Wrap Fee Programs. NSL does not participate in wrap fee programs. (E) Amount of Client Assets We Manage. NSL does not manage any assets directly or in an advisory capacity on an ongoing basis.