Important Information

This website has been issued and approved for the purposes of section 21 of the Financial Services and Markets Act 2000 as a financial promotion under the Financial Services and Markets Act 2000 by Downing LLP, 10 Lower Grosvenor Place, London SW1W 0EN. This website is not an offer or invitation to apply for shares in the Investments. Any application for shares should be made solely on the basis of the relevant prospectus or brochure relating to the Investments. The past performance of the managers is NOT a guide to the future performance of the Companies.

Legal information and disclaimers

These pages explain the legal and regulatory restrictions applicable to the information contained within this website (such information to be referred to hereafter as "Information"). We intend to rely on this Information and these terms and for your own benefit and protection, you should read these terms carefully. If you do not understand any point, please contact us for further information.

Jurisdiction

All information is aimed at persons present in the UK. It is your responsibility to know and understand the law and regulations relating to investment business as they apply to you, wherever you are based.

Certain Information is aimed specifically at professional advisers, rather than private clients. In these areas, we confirm the specific audience that the Information is aimed at. If you are not the audience defined then you should be aware that this Information is not aimed at you and at some point, either on the website or when dealing with an enquiry, Information or progressing your enquiry may be restricted or stopped.

Regulators and registered offices

Downing LLP (Registered No. OC341575) is authorised and regulated by the Financial Services Authority and has its registered office at 10 Lower Grosvenor Place, London SW1W 0EN.

Compensation Arrangements

Compensation arrangements are not offered for all products in all jurisdictions.

In the event that Downing LLP is unable to meet its liabilities, client contracted to it you may be able to apply to the Financial Services Compensation Scheme ("FSCS"). Further information can be obtained from the FSA or the FSCS. This depends upon the type of business and the circumstances of the claim. Most types of investment business are covered currently for 100% of the first £30,000 and 90% of the next £20,000, so the maximum compensation is £48,000. From the 1 January 2010 this will increase to a straight £50,000 cover per eligible claimant. Further information about compensation arrangements is available from the FSCS (www.fscs.org.uk).

Copyright and ownership

Downing LLP. All rights reserved. All content on this site including the Information, all text, data, graphics, their arrangement and compilation as well as the databases and software on which this site is based, are the property of Downing LLP and protected by intellectual property law. All rights to use the content of this site belong to Downing LLP and any unauthorised use, including transmission, display, extraction, modification, distribution and reproduction in any media is strictly prohibited.

Prohibition against reproduction, etc, of information

You may download or print individual sections of the site for personal use and information only provided you retain all copyright and other proprietary notices. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link into or use for any public or commercial purpose the site without the prior written permission of Downing LLP.

Risk Warnings

The price and value of investments and the income from them may rise or fall and may be affected by changes in rates of exchange and market conditions. An investor may not receive back the amount initially invested. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Past performance is not a reliable indicator of future performance.

The investments referred to on this website may not be suitable for all investors. Downing LLP does not provide, and nothing on this website should be construed as investment or tax advice. Potential investors are recommended to seek specialist independent tax and financial advice before investing. It is not intended that anything stated in this website should be construed as an offer or invitation to treat or inducement for you to engage in any investment activity.

An investment into any of our products may only be made on the basis of the information set out in the respective prospectus or product brochure.

Bases of taxation

The levels and bases of, and reliefs from, taxation may change from the date of publication. The tax treatment for individuals is dependent on their particular circumstances and may be subject to change in the future.

Non-solicitation

The Information is for information purposes only. It is neither an invitation to invest to anyone in any country where the issue of solicitations is unlawful nor forms part of an offer to enter into any product or service mentioned within. It is recommended that you take independent tax and legal advice before entering into any agreement and that you seek independent financial advice as regards any questions you may have in respect of the suitability of products or services offered in this site. The distribution of information regarding the products mentioned in this site may be restricted in certain jurisdictions. Prospective investors should inform themselves of, and observe, all applicable laws and regulations of their governing jurisdiction, including offering restrictions, exchange controls and taxes.

Unregulated fund restrictions

Please be aware that certain funds featured on this site are Unregulated Collective Investment Schemes for the purposes of the Financial Services and Markets Act 2000 ("FSMA"). The promotion of these Funds and the distribution of any document to the general public in the United Kingdom are accordingly restricted by sec 238(1) FSMA. Most of the protections provided by the UK regulatory system and compensation under the UK's Financial Services Compensation Scheme will not be available. These Funds are considered suitable only for informed and experienced investors.

Privacy and use of data

The privacy of your personal information is very important to us. Other than as expressly set out below, we confirm that your personal information will not be disclosed, transferred or sold to any third party for any purpose.

Personal information provided by you in response to this website may be retained by us for the purposes of organising your attendance at seminars, marketing by us, and/or providing you with further information relating to our services. If you do not wish us to use such information for any other purpose, please write to the Compliance Officer, Downing LLP, 10 Lower Grosvenor Place, London SW1W 0EN.

Similarly, you have the right to receive information about the personal data maintained about you for which we reserve the right to charge a fee. Should you believe such personal data is not correct, please write to the Data Protection Officer, Downing LLP, 10 Lower Grosvenor Place, London SW1W 0EN.

Please note that Downing LLP shall take all reasonable precautions within our control to ensure that the information you provide online is kept confidential to Downing LLP during transmission, but you hereby acknowledge that the transmission of such information on the internet is open to risk. Accordingly, no liability is accepted for any such information that falls into third party hands in such a way that is beyond the reasonable control of Downing LLP.

Telephone calls made to any member of the Downing LLP may be recorded and recordings may be used for training purposes or to meet our Regulatory requirements. Any data provided during the call will be used and held in accordance with the relevant data protection requirements.

Data provided by non-UK residents will be hosted and held outside of the UK unless agreed otherwise with you.

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Accuracy and update of Information

This website is subject to regular update and revision. While we attempt to ensure the correctness and timeliness of all material posted on the website at the time of publication, we take no responsibility for errors or omissions which are the result of technical causes, or otherwise. We maintain the right to delete or modify, in part or in full, any information on this website without any prior notice.

Any research in this website has been procured and may have been acted upon by Downing LLP for its own purpose. The results are being made available on this site only incidentally.

The views expressed herein do not constitute investment or any other advice and are subject to change. They do not necessarily reflect the views of Downing LLP or any part thereof and no assurances are made as to their accuracy.