This website and the publications contained on it are published by and on behalf of AIC Information Services Limited (AIC ISL), a wholly owned subsidiary of The Association of Investment Companies (AIC), for information purposes only. This website and the publications contained on it are not, whether taken together or separately, invitations or inducements to engage in investment activity. No investment decisions should be based solely on the information contained on this website.
Any information and statistics on this site (other than statistics accessed by external hyperlinks) provided by AIC ISL and Morningstar and news items on this site (other than news items accessed by external hyperlinks) provided by Citywire Financial Publishers Limited have been prepared in each case for AIC ISL for information purposes only. The downloadable report and accounts and stock exchange announcements are provided by FE Investegate, a wholly owned subsidiary of Financial Express Limited.
Whilst each of AIC ISL, Morningstar, FE Investegate and Citywire Financial Publishers Limited have taken all reasonable steps to verify such information, statistics, news items or announcements, each of Morningstar, AIC ISL, FE Investegate and Citywire Financial Publishers Limited does not accept responsibility for any errors or omissions on this website or the publications contained on this website or for losses of any nature incurred by any person using this website or the publications contained on this website, however caused.
Any opinion expressed (other than those contained in news items provided by Citywire Financial Publishers Limited) is the opinion of AIC ISL at the time of writing and is subject to change without notice.
The information provided within this website and the publications on this website does not constitute investment advice or a personal recommendation, and you should seek independent financial and, if appropriate, legal advice as to the suitability of any investment mentioned here.
Certain information provided within this website and the publications on this website is based on the AIC’s current understanding of law and practice. This can change over time, and such information reflects the AIC’s current understanding as at the time of publication. No such information or guidance provided can override the requirements of current legislation.
If the information contained within this website and the publications on this website is redistributed in any manner AIC ISL accepts no liability whatsoever to third parties.
General information on investment companies, savings plans, and wrapper products is listed but full terms and conditions and charges of any investment must be obtained directly from the managers and may be subject to change.
Certain information on this website and in the publications contained on it is of a historical nature. For example, statements made in historical releases and press announcements may now be out of date. All historical information should be understood to be taken from the date of its first publication.
All documents and publications provided on the Member centre are intended to provide general, non-exhaustive guidance only and have been prepared for the sole use of the AIC’s members.
It is the AIC’s policy to conduct itself to the highest ethical and business standards in all of its business dealings and in all matters which may reflect on the company. It takes a zero tolerance approach on these matters.
Links to third party websites are provided for your information and convenience. However, you should be aware that the content and software of these websites has been compiled and issued by third parties and has not been reviewed by AIC ISL. As such, AIC ISL cannot be responsible for the accuracy of any information or opinion contained within any such website.
Other important information
- You are not certain to make a profit and may lose money when investing.
- You may not get back the full amount of your investment.
- Share prices can go down as well as up.
- Any income from an investment is not fixed and may fall.
- For higher risk funds - this type of investment may be subject to sudden and large falls in value and you could get back nothing at all.
- You may have difficulty selling certain investment company shares in certain market conditions at any price. Do not invest in an investment which may not be readily realisable unless you have carefully thought about whether you can afford it and whether it is right for you.
- When investing overseas, currency fluctuations may adversely affect the value of your investment.
- The effect of inflation over time can adversely affect the value of your investment.
- If the discount narrows during the period of your investment, it may provide a proportionately better return on the share price than on the underlying assets. A widening of the discount does not necessarily indicate a loss although it will reduce the gain you could potentially have received. Any investment in shares should be for the long term and it is important with any equity investment not to be a forced seller: allow yourself to choose a time to sell that is advantageous to you.
- The share price performance figures on this website are calculated using the official last close price, making no allowances for charges that occur at the time of the transaction. Transaction costs include dealing charges, stamp duty (on purchase only), charges for advice and/or charges to buy or sell within a wrapper product. Performance figures are for lump sum investments only and not for regular savings plans.
- You should be aware of the risks associated with equity investments. Actual results and developments may be materially different from past performance and from any forecast, opinion or expectation expressed on this website. Past performance must not be relied on as a guide to future performance. Market and currency movements may cause the value of investments and the income from them to fall as well as rise and you may get back less than you invested when you decide to sell your investments.
- Where a company uses or proposes to use gearing as part of its investment strategy, investors should be aware that the securities may be subject to sudden and large falls in value.
- Split capital investment companies are complex and may be higher risk than conventional companies.
- Tax levels and bases of, and reliefs from, taxation are subject to change by the government.
- Venture Capital Trusts (VCTs) are complex and may be higher risk than conventional investment companies and therefore are only suitable for sophisticated investors. They should be viewed as long-term investments.
- Although VCTs offer generous tax benefits, you should not invest in a VCT simply for the tax benefits.
- It can be difficult to sell VCT shares on the secondary market, although some VCTs offer a "buy back" facility.
- AIM is a market designed primarily for emerging or smaller companies to which a higher investment risk tends to be attached than to larger or more established companies. AIM securities are not admitted to the Official List of the United Kingdom Listing Authority. The rules of AIM are different from those of the Official List.
- The Specialist Fund Segment (SFS) (formerly the Specialist Fund Market) is a segment of the London Stock Exchange’s regulated Main Market and as such is an EU regulated market. The London Stock Exchange’s website says this is designed for highly specialised investment entities that wish to target institutional, highly knowledgeable investors or professionally advised investors only. The SFS appeals to a variety of different types of investment managers, including those managing large hedge funds, private equity funds, and certain emerging market and specialist property funds, seeking admission to a public market in London. SFS securities are not admitted to the Official List of the United Kingdom Listing Authority. The rules of the SFS are different from those of the Official List.
- Please see the Guide to investment companies for detailed information on investment companies.
The AIC is a company limited by guarantee whose registered office is 9th floor, 24 Chiswell Street, London EC1Y 4YY. Its trading and registered office addresses are identical. The AIC is a company registered in England and Wales with registration no. 4818187. The AIC is registered for VAT with registration no. 396992669.
AIC ISL is a company registered in England and Wales with registration no. 01910539.