Terms and Conditions:

The information contained in this site is issued by SPL Guernsey ICC Limited ("SPL"). Please note that access to and the use of this website are subject to the following terms and conditions, and you will be deemed to have agreed to them each time you access it. By accessing this website, you certify that all information you provide is true and correct. Returning users are advised to check these terms and conditions each time the site is accessed, as they are subject to change from time to time without notice.

Financial promotions on this website are for professional investors only, and should not be distributed to or relied upon by retail investors.

This document does not constitute an offer, or a solicitation of an offer, of securities, and no securities are to be offered or sold, in the United Kingdom other than to persons whose ordinary activities involve them in acquiring, holding, managing or disposing of investments (as principal or agent) for the purposes of their businesses, or otherwise in circumstances which have not resulted and will not result in an offer to the public in the United Kingdom within the meaning of the Financial Services and Markets Act 2000 (as amended).

Consent under the Control of Borrowing (Bailiwick of Guernsey) Ordinance, 1959 (as amended) has been obtained in respect of the issue of certain securities referred to herein. Neither the Guernsey Financial Services Commission nor the States of Guernsey Policy Council takes any responsibility for the financial soundness of the Funds or for the correctness of any of the statements made or opinions expressed with regard to them.

The information provided on this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or that would subject SPL, its subsidiaries or affiliates to any regulation under, or registration requirement within, such jurisdiction or country. Products or services described herein may not be available in all jurisdictions. The information herein does not constitute or form part of an offer to sell or the solicitation of an offer to buy or sell any securities. Users assume responsibility for determining whether any legal or regulatory considerations limit their access to or use of this website and their compliance with local laws and regulations. Without prejudice to the foregoing, information on this website is not for distribution and does not constitute an offer to sell or the solicitation of any offer to buy securities in the United States of America ("U.S.A.") to or for the benefit of U.S. persons (being residents of the U.S.A. or partnerships or corporations organised under the laws of the U.S.A. or any state, territory or possession thereof).

The information obtained from this website may not be distributed to any other person or reproduced. You are entitled to view, copy and print documents from this website solely for your own use, provided that you do not remove any copyright or other proprietary notices. You may not sell, publish, reproduce, sublicense, assign, modify or change any portion of this website or any content and information contained within this website without our prior written consent. It is your responsibility to ensure that your computer is virus protected. SPL accepts no responsibility for any loss suffered as a result of accessing or downloading information from this site.

Should you leave this website via a link contained in this website and view content that is not provided by us, you shall do so at your own risk. SPL provides links only as a convenience and without liability. The ability to link to another website and the fact that a link exists, does not mean that SPL endorses or guarantees a site, the site sponsor or the site contents. In addition, be aware that when you leave this website you will be subject to the terms of use and privacy policies of the website you are visiting. If you are in any doubt about these terms and conditions, you should consult an appropriate professional adviser.

Although the information provided to you on this site is obtained or compiled from sources, SPL believes to be reliable, SPL cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you for any particular purpose. The information is not intended to be used as the sole basis for investment decisions, nor should it be construed as investment, tax, or legal advice designed to meet the particular needs of an individual investor. All information published is in good faith but no representation or warranty expressed or implied, is made by SPL or any person as to its accuracy or completeness and it should not be relied on as such. SPL shall have no liability for any loss or damage arising out of the use of or reliance on the information provided including without limitation, any loss or other damage, direct or consequential.

This website is established in Guernsey and these terms and conditions shall be governed by the laws of the Island of Guernsey. You agree that the Royal Court of Guernsey shall have exclusive jurisdiction in the event of any dispute or proceedings arising from or in connection with the contents of this site, and you irrevocably waive any objection to proceedings in such courts on the grounds of venue or on the grounds that the proceedings have been brought in an inconvenient forum.

Past performance is not necessarily a guide to the future. Projections, valuations and statistical analyses may be subjective based on one or more alternative methodologies that may produce different results and so should not be viewed as facts or the only possible outcomes. Market and exchange rate movements may cause the value of investments, to go down as well as up and the investor may not get back the amount originally invested. Any tax reliefs mentioned are those currently available and are subject to change and their value will naturally depend on the personal circumstances of an investor. Specific risks associated with particular investments are detailed in the documentation that relate to those investments.

This report does not constitute advice or a recommendation to enter into any transaction. Whilst all reasonable care has been taken in preparing this report, the information contained herein has been obtained from several sources that SPL considers reliable but SPL does not represent that it is complete or accurate and it should not be relied upon as such. Directors of SPL may have a position or holding in any of the above investments or in a related investment. Any decision to purchase or sell securities should be made based solely on the information contained in a fund’s offering memorandum. SPL does not provide investment advice to existing or potential investors.