The information contained on this website is for Professional Investors only.

Usage of this Website: Hermes' products and services referred to on this website are not available to the general public in any jurisdiction, and the information provided does not constitute an offer, invitation to acquire or sell any service, product or security referred to on this website. You acknowledge that you are accessing this website on your own initiative and are responsible for compliance with all laws and regulations applicable in your own jurisdiction. Hermes uses a web analytics service to monitor the usage on the website.

Legal Information: This site is operated by Hermes Fund Managers Limited (Company No: 01661776) whose registered office is situated at Lloyds Chambers, 1 Portsoken Street, London, E1 8HZ ("HFML"). The products referred to on this website are managed by the following entities, which are authorised by the Financial Conduct Authority and are all operating subsidiaries of HFML: Hermes Investment Management Limited ("HIML"); Hermes BPK Partners LLP ("HBPK"); and Hermes Sourcecap Limited ("HSL").

The following operating subsidiaries of HFML are not authorised by the Financial Conduct Authority: Hermes Real Estate Investment Management Limited ("HREIML"), Hermes Equity Ownership Services Limited ("HEOS"); Hermes Fund Managers (North America) GP, Inc ("HFMNA") and Hermes Fund Managers (Australia) Pty Ltd ("HFMA"). HIML currently carries on all regulated activities associated with HREIM and is responsible for marketing HREIM products to prospective investors and for arranging their investment. HIML, HBPK, HFMNA and HSL are all registered investment advisers with the United States Securities and Exchange Commission (SEC). HFMA is registered with the Australian Securities and Investments Commission (ASIC).

HIML, HBPK, HSL and HFMNA are all registered investment advisers with the United States Securities and Exchange Commission ("SEC"), HFMNA undertakes business under a DBA as Hermes Global Equities Advisors.

HFMA is registered with the Australian Securities and Investments Commission (ASIC) and holds Australian financial services license number 351784. HFMA is authorised to provide certain fianancial services to wholesale clients only.

References on this page to "Hermes" mean HFML, and, where the context requires, its subsidiaries and affiliates as described more particularly above.

No Warranties or Representations: Hermes has expressed its own views and opinions on this website, and these may change from time to time. Hermes may make changes to the information available on the website at any time without notice. No warranties or representations whether express or implied (including, without limitation, implied warranties of merchantability, fitness for purpose, non-infringement of third party rights, freedom from viruses or other harmful code) are given by Hermes in connection with this website. Hermes accepts no liability for any damage or loss whatsoever including loss of profit (whether direct, indirect or consequential) in respect of the use of this website or its content and is not responsible for any interruptions or delays in service which may occur.

Accuracy of information: Information contained on this website is believed in good faith to be correct at the time of posting. In the event that any articles, papers or publications are posted on the website, then such items reflect information available and the views of the authors as at the date of publication. However, errors or omissions in the information may occur because of a number of factors which are inherent in any internet access system and are not within Hermes’ reasonable control. In view of the above, you are advised to confirm the accuracy of any information obtained from this website with Hermes before seeking to rely on such information.

Investment Advice: This website is not intended to be used as a tool for providing investment advice on the merits or suitability of products and no information contained within this website should be construed as such. This website provides information about Hermes’ products and services and does not provide advice to clients. Please seek your own legal, investment and tax advice as you deem appropriate. This website is for information only. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments.

Performance Information: Past performance is not a reliable indicator of future results. Also, certain returns shown on this website are compared against returns for the relevant benchmark index during similar periods. It is important to note that the underlying volatility and risk of the funds and portfolios and that of their benchmark indices may vary materially.

Offering Documents and Private Placement Memoranda: This website contains certain offering documents including prospectuses and private placement memoranda. These documents contain important information including charges, tax and fund specific warnings, which should be read carefully to ensure that they are fully understood prior to you proceeding with investment decisions.

Recording of calls: Telephone calls may be recorded for monitoring purposes.

Data Protection: Please read our Privacy Policy relating to the collection and use of your personal information.

Intellectual Property Rights: Hermes is the owner or the licensee of all intellectual property rights in this website, and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved. You may print off one copy, and may download extracts, of any page(s) from our site for your personal reference. You must not use any part of the materials on our site for commercial purposes without obtaining a licence to do so from us or our licensors.

Third Party websites: Links to third party websites are provided solely for your convenience. We have not reviewed any third party websites and are not responsible for their content. Hermes therefore do not endorse or make representations about them, or any material found there, or any results that may be obtained from using them. If you access any third party websites linked to this website, you do so entirely at your own risk.

IP Addresses and Cookies: We may collect information about your computer, including where available your IP address, operating system and browser type, for system administration and to monitor acceptance of our disclaimers. This is statistical data about our users' browsing actions and patterns, and does not identify any individual.

For the same reason, we may obtain information about your general internet usage by using a cookie file which is stored on the hard drive of your computer. Cookies contain information that is transferred to your computer's hard drive. They help us to improve our site and to deliver a better and more personalised service. They enable us:

• To store information about your preferences, and so allow us to customise our site according to your individual interests.
• To speed up your searches.
• To recognise you when you return to our site.

IP Addresses and Cookies: Please see our Privacy and Cookie policy for information about our use of cookies.