Marlborough Fund Managers Limited is authorised and regulated by the Financial Conduct Authority.

The distribution of the information contained on this website in certain countries may be restricted by law and accordingly, persons who access it are required to inform themselves and to comply with any such restrictions. This information does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not authorised or to any person to whom it is unlawful to make such an offer or solicitation.

Persons interested in acquiring any investment should inform themselves as to: (i) the legal requirements within the countries of their nationality, residence, ordinary residence or domicile for such acquisition; (ii) any foreign exchange control requirement which they might encounter on the acquisition or sale of investments; and (iii) the income tax and other tax consequences which might be relevant to the acquisition, holding or disposal of any investment.

The information available on this site does not constitute an offer of, or an invitation to apply for or purchase, any securities. In particular, the information does not constitute an offer of, or an invitation to apply for or purchase, securities in any jurisdiction where such offer or invitation is unlawful or in which the person making such an offer is not qualified to do so or to whom it is unlawful to make such offer or solicitation. The distribution of this information in written format is generally restricted to the UK.

Marlborough Fund Managers Limited believes that the information provided is accurate as at the date of its publication, but no representation or warranty of accuracy is given and therefore no liability to any third party is accepted by Marlborough Fund Managers Limited or its affiliates or any of their directors or employees in respect of any error or omission. This does not affect any duty or liability that Marlborough Fund Managers Limited may have to you under the Financial Services and Markets Act 2000 or the Financial Conduct Authority Handbook. The information on the site is subject to change without prior notice.

The information has been issued and approved by Marlborough Fund Managers Limited and does not in any way constitute investment advice. If you are in any doubt about any of the information on this website please consult your financial or other professional adviser.

If you would like further information about the Financial Conduct Authority, the Regulatory Authority, you can access their website at www.fca.org.uk. This website also contains links that lead to other websites. These links are provided solely for your convenience and do not constitute any endorsement, sponsorship or approval of the materials appearing in such sites.

Please note the following warnings:

The past performance of an investment is not a guide to future performance.

The value of investments, and the income from them, may go down as well as up and is not guaranteed so an investor may not get back the amount originally invested. Any tax reliefs mentioned are those currently available and may be subject to change.

If the funds hold securities denominated in a currency other than sterling, changes in exchange rates may affect the value of your investment.

Where charges are taken wholly or partly out of a fund's capital, distributable income will be increased at the expense of capital which will either be eroded or future growth constrained.

Investment in the securities of smaller and unquoted companies can involve greater risk than is customarily associated with investment in larger, more established companies. In particular, smaller companies often have limited product lines, markets or financial resources and may be dependent for their management on a smaller number of key individuals. In addition, the market for securities in smaller companies is often less liquid than that for securities in larger companies, bringing with it potential difficulties in acquiring, valuing and disposing of such securities. Proper information for determining their value or the risks to which they are exposed may also not be available.

Any tax reliefs mentioned, such as for ISAs, are those currently available and may therefore change. Their value depends on the circumstances of the individual investor.

For the protection of all parties, your telephone calls to Marlborough Fund Managers Limited may be recorded.

Before making an investment, you should read the appropriate Prospectus / Key Investor Information Document and all the Terms and Conditions. These are available on the site.

Legal Information/Notice

The entire contents of the site are subject to copyright with all rights reserved.

Marlborough Fund Managers Limited may make changes to the web site materials at any time without notice and without obligation to update the materials contained on these web pages.

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 Marlborough Fund Managers Limited.

You must not transmit any virus, 'worm', 'Trojan horse', or other item of a destructive nature to this site and it is your responsibility to ensure that whatever you download or select for your use from the site is free from such items.

This site is established in England by Marlborough Fund Managers Ltd in accordance with and shall be governed by, and your browsing in and use of the site shall be deemed acceptance of, the laws of England and Wales. A condition of using the site, is that in the event of any dispute or proceeding you irrecoverably submit to the jurisdiction of the English Courts and 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 form.

Each time you use the site, a condition of use is that you comply with the above terms.

Marlborough House, 59 Chorley New Road, Bolton BL1 4QP

Authorised and regulated by the Financial Conduct Authority and a member of The Investment Association.