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Terms and conditions of use

This website is owned and operated by CLSA group of companies (“CLSA”).

Access to this website and the information and material set forth herein (the “Site”) is provided to you subject to the following terms. You understand that your access to and use of this Site constitutes your consent and agreement to abide by these terms.

All securities transactions and other financial services are conducted based on signed written agreements between CLSA and its customers, and the terms of those agreements are binding on the parties. No other representation, whether made in person, online, electronically, in written, graphical, or verbal communication, may alter the terms of those agreements, except that your use of this service constitutes your agreement to the additional terms and conditions applicable to such use. If you do not agree with the terms and conditions below, please do not access this site.

The information provided on this website should not be construed as an offering or solicitation to sell in any jurisdiction to any person to whom it is unlawful to make such an invitation or solicitation in such jurisdiction. None of the information contained herein has been approved in any jurisdiction. In particular, the funds mentioned herein have not been and will not be registered under the United States Securities Act of 1933 (the "Securities Act") or under the securities laws of any state and the funds have not been and will not be registered under the Investment Company Act of 1940 (the "Investment Company Act"). Interests in the funds may not be offered or sold within the United States or to United States Persons (as defined under Regulation S of the Securities Act), except in a transaction not subject to, or pursuant to an exemption from, the registration requirements of the Securities Act and any applicable state securities laws and which would not require the funds to register under the Investment Company Act.

Access

This Site is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject CLSA or its affiliates to any registration or licensing requirement within such jurisdiction. All persons accessing this site do so at their own risk and are responsible for compliance with any applicable law.

Use of Material

This Site and all of the material and content found on or through this Site (collectively, "Publications") are proprietary to CLSA and are provided solely for your personal and non-commercial use. You agree that you will not use this Site or the Publications for any purpose that is unlawful or prohibited by these Terms of Use. The copyrights in all contents of this Site and the Publications are owned by CLSA or its licensors. You may not reproduce, copy or redistribute any Site content or the Publications without the express written permission of CLSA. If you would like information about obtaining the CLSA's permission to use any of the Site content or Publications, please contact us. If you violate any of these terms, your permission to use the content or Publications automatically terminates and you must immediately destroy any copies you have made.

No offer

The information and material presented in this Site are provided to you for informational purposes only and are not to be used or considered as an offer to sell, or recommendation, or solicitation of an offer to buy securities or other financial instruments, or any advice or recommendation with respect to such securities or other financial instruments. CLSA or its affiliates may, to the extent permitted by law, participate or invest in financing transactions with the issuer(s) of the securities referred to in this Site, perform services for or solicit business from such issuers, and/or have a position or effect transactions in the securities or options thereon. In addition, they may make markets in such securities. CLSA may, to the extent permitted by law, act upon or use the information or opinions presented herein, or the research or analysis on which they are based before the material is published.

Disclaimer

The material and information contained in this Site has been produced and collated by CLSA in accordance with its current practices and policies and with the benefit of information currently available to it. All reasonable efforts have been made to ensure the accuracy of the contents of the pages of the Site at the time of preparation. The material on the Site is for general information only and nothing on this Site constitutes professional advice, or any binding commitment upon CLSA in relation to the availability of services provided by CLSA.

Notwithstanding the efforts made by CLSA to ensure the accuracy of the Site, CLSA disclaims any responsibility or liability in respect to any use or reference to the Site, and CLSA does not warrant or guarantee the adequacy, accuracy or completeness of any information herein or that such information will be delivered in a timely or uninterrupted form. CLSA MAKES NO REPRESENTATION OR WARRANTY, WHETHER EXPRESS OR IMPLIED, OF ANY KIND WITH RESPECT TO THE SITE, ITS OPERATION AND CONTENTS, INFORMATION AND MATERIALS. THE INFORMATION AND MATERIAL ON THIS SITE IS PROVIDED "AS IS". CLSA EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, OF ANY KIND RELATING TO THE SITE, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND ANY OBLIGATION TO UPDATE ANY INFORMATION HEREIN AND ANY LIABILITY FOR INACCURACIES AND OMISSIONS IN SUCH INFORMATION. CLSA ACCEPTS NO LIABILITY FOR LOSSES OR DAMAGES WHICH MAY BE DIRECTLY OR INDIRECTLY SUSTAINED BY ANY VISITOR TO THE SITE OR OTHER PERSON WHO OBTAINS ACCESS TO THE MATERIAL ON THE SITE. You agree that this exclusion of liability is comprehensive and applies to all damages of any kind including without limitation direct, indirect, compensatory, special, multiple, incidental, punitive and consequential.

You understand that CLSA may have opinions from time to time with regard to any or all of the securities referenced herein, and that those opinions may be different than those obtained by using or stated in parts of this Site.

Past performance is not necessarily indicative of future performance of any investment. The value of investments may fall and investors may not recover amounts invested.