Risk warning

Important information

The following information is very important. You should read this information if you are unclear at any time as to the purposes of this site and who is responsible for its maintenance.

The site contains information only relevant to UK investors and financial advisers. This is designed to inform and protect you. There are certain legal and regulatory limitations that apply to the information contained on this web site and by proceeding you are deemed to have read and understood this warning.

The information in this section is intended for persons who are United Kingdom residents for tax and investment purposes or those who advise such persons. In particular the information is not for distribution and under no circumstances is to be considered as an offer or solicitation to deal in investments in any jurisdiction in which such offer, solicitation or distribution would be unlawful, including, but not limited to, the United States of America.

Investment in any of the products described should only be made on the basis of the applicable offer document (e.g. Scheme Particulars, Prospectus or other Terms and Conditions). Nothing in the Aberdeen web site constitutes investment legal tax or other advice nor is it to be relied upon in making an investment decision.

The information is not to be reproduced, copied or made available to others. Any research or analysis used in the preparation of this web site has been procured by Aberdeen Asset Management PLC and its subsidiary companies ('The Company') for its own use and it may have been acted on by the Company for its own purposes.

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.

Any tax reliefs mentioned are those currently available and are subject to change. Their value depends on the personal circumstances of the investor. Information relating to investment trust savings schemes, investment trust ISAs is approved by Aberdeen Asset Managers Limited, authorised and regulated by the Financial Conduct Authority in the United Kingdom.

Significant risk factors you should consider prior to investing:

(Please refer to the latest Prospectus for details of all risks associated with investment in the Company)

  • In common with most investment companies, the Company may borrow to finance further investment (gearing). The use of gearing is likely to lead to volatility in the Net Asset Value (NAV) meaning that a relatively small movement, down or up, in the value of the Company’s assets will result in a magnified movement, in the same direction, of that NAV.
  • The Company invests in private equity funds, hedge funds and other specialty funds or directly in unquoted companies which are geared by loan facilities that rank ahead of the Company’s investment both for payment of interest and capital. As a consequence, the Company may be exposed to gearing through the borrowings from time to time of such private equity funds, hedge funds and other specialty funds and companies. Investment in such private equity funds, hedge funds and other specialty funds and companies presents a higher risk as to their capital return with any increase or decrease in the value of the Company’s investment portfolio being magnified in the movement in the Net Asset Value (NAV) of the Company’s shares.
  • Movements in exchange rates can impact on both the level of income received and the capital value of your investment. If the currency of your country of residence strengthens against the currency in which the underlying investments of the Company are made, the value of your investment will reduce and vice versa.
  • The Company’s underlying hedge fund investments may invest in emerging markets which tend to be more volatile than mature markets and the value of your investment could move sharply up or down. In some circumstances the underlying investments may become illiquid which may constrain the Investment Manager’s ability to realise some of the portfolio. The registration and settlement arrangements in emerging markets may be less developed than in more mature markets so the operational risks of investing are higher. Political risks and adverse economic circumstances are more likely to arise putting the value of your investment at risk.
  • The portfolio of the Company will include unquoted interests in underlying funds and direct private equity investments which are not publicly traded or freely marketable and may therefore be difficult to realise. Realisation of such investments may require a lengthy time period or may result in distributions in kind to the Company.
  • Many underlying funds and unquoted investments held in the portfolio are not subject to regulation by the UK Financial Conduct Authority or an equivalent regulatory body. Such investments may be domiciled in jurisdictions which do not have a regulatory regime which provides an equivalent level of investor protection to that provided under the laws of the United Kingdom.
  • The value of shares and the income from them can go down as well as up and you may get back less than the amount invested.
  • Past performance is not a guide to the future.

Other important information

Issued by Aberdeen Asset Managers Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom.

Registered Office: 10 Queen’s Terrace, Aberdeen AB10 1YG. Registered in Scotland No. 108419. A member of the Aberdeen Asset Management group of companies. An investment company should be considered only as part of a balanced portfolio. Under no circumstances should this information be considered as an offer or solicitation to deal in investments.