IFDS Managers Limited.

• IFDS Managers Limited is a subsidiary of International Financial Data Services Limited.
• IFDS Managers Limited is authorised and regulated by the Financial Services Authority under No.469278.
• The Registered Office is: IFDS Managers Limited, IFDS House, St Nicholas Lane, Basildon Essex SS15 5FS, England. Registered in England: No. 4162989.

Conditions

• This web site is designed for general information use only and does not attempt to give specific advice that relates to individual circumstances. The information (other than for an individual user's personal reference) is not to be reproduced, copied or made available to others without the prior written permission of IFDS Managers Limited.
• The information within this web site is intended for independent investment intermediaries (professional advisers) only and is not directed at private individuals. In particular the information is not intended for distribution to, or use by, any person in any jurisdiction or country where such distribution or use would be contrary to local law or regulation, including, but not limited to, the United States of America. It is your responsibility to observe the applicable laws and regulations of your country of residence.
• Under no circumstances is the information on this web site to be considered as an offer or solicitation to buy or sell securities.
• The information on this web site is for guidance only and expert financial advice should be sought before making decisions on financial products. Whilst we believe the facts to be correct, we cannot assume liability for any errors or omissions. It is believed that the information is accurate at the date of publication and no warranty is given. It may be changed without prior notice.
• The information on this web site should not be construed as investment advice. Private investors seeking further information are advised to seek independent financial advice.
• You should be aware that past performance is not necessarily a guide to future performance. The price of investments and the income from them can fall as well as rise and may be affected by exchange rate movements between currencies. Where an investment is denominated in a foreign currency, the rates of exchange may have an adverse effect on the sterling value, price or income of an investment. An investor may not get back the original amount invested, unlike savings accounts in a bank or building society, where the capital is guaranteed. Levels and bases and reliefs from taxation are subject to change. The published information is based on our understanding of current UK law and Inland Revenue practice - both of which may change in the future. Their value depends on the personal circumstances of the investor.

Financial Services & Markets Act 2000

• Investors in any fund advised by IFDS Managers Limited must fulfil the United Kingdom's anti-money laundering requirements under the Money Laundering Regulations 1993 and in accordance with the rules of the Financial Services & Markets Act 2000.
• For the purposes of the Financial Services & Markets Act 2000 this web site has been approved by IFDS Managers Limited.

Terms & Liabilities

• IFDS Managers Limited assumes no responsibility, and shall not be liable for any damages to, or viruses that may infect, your computer equipment or other property resultant from your access to, use of, or browsing in this web site or downloading of any materials, data, text, images, audio or video, from this web site.
• IFDS Managers Limited shall, insofar as permitted by law, have no liability for any loss or damage arising from the use of or reliance on the information contained within this web site, including without limitation, any loss of profits or contracts or any other damage, whether direct or consequential, arising out of or in connection with the use of or inability to use this web site.

Intellectual Property

• Unless otherwise stated, all copyright, trademarks, design rights or any other intellectual property rights relating to any information contained within this web site is and shall at all times remain the exclusive property of IFDS Managers Limited. This copyright and other rights does not extend to any third-party source materials used (and acknowledged) for reference or publicly available graphics. No rights of any kind are licensed or assigned or shall otherwise pass to persons accessing this information.
• All other trademarks, product and company names mentioned are acknowledged as the property of their respective owners.

General

• By accessing any part of this web site, you shall be deemed to have accepted these Terms, Conditions & Notices in full.
• We may collect personal identification information from Users in a variety of ways in connection with activities, services, features or resources we make available on our Site. Users may visit our Site anonymously. We will collect personal identification information from Users only if they voluntarily submit such information to us. Users can always refuse to supply personally identification information, except that it may prevent them from engaging in certain Site related activities.
• We may collect non-personal identification information about Users whenever they interact with our Site. Non-personal identification information may include the browser name, the type of computer and technical information about Users means of connection to our Site, such as the operating system and the Internet service provider's utilized and other similar information.
• Our Site may use "cookies" to enhance User experience. User's web browser places cookies on their hard drive for record-keeping purposes and sometimes to track information about them. User may choose to set their web browser to refuse cookies, or to alert you when cookies are being sent. If they do so, note that some parts of the Site may not function properly.
• International Financial Data Services Ltd collects and uses Users personal information for the following purposes:
• To improve our Site we continually strive to improve our website offerings based on the information and feedback we receive from you.
• To send periodic emails the email address Users provide will only be used to respond to their inquiries, and/or other requests or questions.
• We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of your personal information, username, password, transaction information and data stored on our Site.
• Sensitive and private data exchange between the Site and its Users happens over a SSL secured communication channel and is encrypted and protected with digital signatures.
• We do not sell, trade, or rent Users personal identification information to others. We may share generic aggregated demographic information not linked to any personal identification information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above.
• Users may find advertising or other content on our Site that link to the sites and services of our partners, suppliers, advertisers, sponsors, licensors and other third parties. We do not control the content or links that appear on these sites and are not responsible for the practices employed by websites linked to or from our Site. In addition, these sites or services, including their content and links, may be constantly changing. These sites and services may have their own privacy policies and customer service policies. Browsing and interaction on any other website, including websites which have a link to our Site, is subject to that website's own terms and policies.
• The information on this site is protected by copyright and other applicable laws, treaties and conventions. Information contained on sites we link to, as well as information provided by third parties that is available on this site, is the property of its provider. Neither IFDS Managers Limited nor any of the providers of such information shall be liable for any errors therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.
• IFDS Managers Limited may make improvements and/or changes to this web site at any time. Such changes may result in you being unable to access this web site. Access to this web site may be suspended temporarily or permanently and without notice.
• IFDS Managers Limited reserves the right to add, delete or modify any provision of this agreement at any time without notice.
• Any rights not expressly granted in these terms are reserved.
• This agreement will be governed in all respects in accordance with English Law and is subject to the exclusive jurisdiction of the English courts.

Exclusions

• By accessing this web site, you agree to the exclusion by IFDS Managers Limited of any liability in respect of any errors or omissions by IFDS Managers Limited and any other relevant third parties.

This document was last updated on May 18, 2011