Terms and Conditions of Use – last updated December 2016

By accessing and using this website you agree to the following terms of use:

1. General

Access to and use of the www.frmhedge.com website (the "Site") and the materials found on it (the "Content"), including any investment services referred to on it (the "Investment Services") are subject to the following terms and conditions (these "Terms").

Unless otherwise indicated, the Content is communicated by FRM Investment Management Limited, which is registered in Guernsey at PO Box 173 Royal Chambers, St Julian’s Avenue, St Peter Port, GY1 4HG, Guernsey, and is licensed and regulated by the Guernsey Financial Services Commission.

Australia: The Content is communicated by Man Investments Australia Limited, (ABN 47 002 747 480 AFSL 240581), which is regulated by the Australian Securities & Investments Commission (ASIC). This information has been prepared without taking into account anyone’s objectives, financial situation or needs.

Germany: The Content is communicated by Man (Europe) AG of Austrasse 56, 9490 Vaduz, Liechtenstein, which is authorized and regulated by the Liechtenstein Financial Market Authority FMA. Man (Europe) AG is registered in the Principality of Liechtenstein no. FL-0002.420.371-2. Man (Europe) AG is an associated participant in the investor compensation scheme, which is operated by the Deposit Guarantee and Investor Compensation Foundation PCC (FL-0002.039.614-1) and corresponds with EU law. Further information is available on the Foundation's website under www.eas-liechtenstein.li. The Content is of a promotional nature.

Hong Kong: The Content is communicated by Man Investments (Hong Kong) Ltd (the ‘Company’) and has not been reviewed by the Securities and Futures Commission in Hong Kong.

Liechtenstein: The Content is communicated by Man (Europe) AG, which is authorised and regulated by the Liechtenstein Financial Market Authority (FMA). Man (Europe) AG is registered in the Principality of Liechtenstein no. FL-0002.420.371-2. Man (Europe) AG is an associated participant in the investor compensation scheme, which is operated by the Deposit Guarantee and Investor Compensation Foundation PCC (FL-0002.039.614-1) and corresponds with EU law. Further information is available on the Foundation's website under www.eas-liechtenstein.li.

Switzerland: The Content is communicated by Man Investments AG, which is regulated by the Swiss Financial Market Authority FINMA.

United States: The Content is communicated by FRM Investments (USA) LLC, and is distributed by Man Investments, Inc.. FRM Investments (USA) LLC is registered with the US Securities and Exchange Commission (SEC) as a Registered Investment Advisor and with the National Futures Association as (NFA) authorized by the US Commodities Futures Trading Commission (CFTC) as a Commodity Trading Advisor and a Commodity Pool Operator. Man Investments, Inc. is registered as a broker-dealer with the SEC and is a member of the Financial Industry Regulatory Authority (“FINRA). The registrations and memberships described herein in no way imply that the SEC, FINRA, CFTC or NFA have endorsed FRM Investments (USA) LLC or Man Investments, Inc. to provide services.

US Persons Located outside the US: The Investment Strategies that are described or appear herein are not intended to be accessed by US Persons and are not being offered or made available to them.

FRM may update, revise, delete or modify information on this Site without notice. Information should only be considered current as of the time of initial publication on this Site or as otherwise stated on this Site without regard to the date on which you may access the information.

2. Restricted Access

This Site, the Content and the Investment Services are not directed at or intended for distribution to any person (or entity) who is a citizen or resident of (or located or established in) any jurisdiction where the use of the Site (or the utilisation of the Investment Services) would be contrary to applicable law or regulation or would subject FRM to any registration or licensing requirement in such jurisdiction. Persons who wish to access this Site are required by FRM to inform themselves about and to observe any legal or regulatory restrictions which may affect their eligibility to access the Site or to subscribe to the Investment Services. Professional advice should be sought in cases of doubt.

3. No Offer

The Content is provided for information purposes only and does not constitute a solicitation or offer, or advice or recommendation, to buy or sell interests in any investment products, to effect any transactions, or to conclude any transaction of any kind whatsoever.

4. Monitoring by FRM

Your use of the services on this Site may be monitored by FRM, and the resultant information may be used by FRM or its affiliates for its internal business purposes or in accordance with the rules of any applicable regulatory or self-regulatory organisation.

5. No Commercial Exploitation

Except as stated in this section 5, the copyright and other intellectual property rights in the Content (including the FRM logo) are owned by FRM. Any use of the Content for any purpose is accordingly prohibited except as stated below. With the exception of Content supplied on the Site in Adobe Acrobat (PDF) format for you to download, you may not reproduce, transmit, modify, link into, store, archive or in any other way use for any public or commercial purpose this Site or any of the Content without the prior written permission of FRM. In particular, neither you nor any third party acting on your behalf or at your instigation may:

  • redistribute to any other person any of the Content (whether as part of any library, archive or similar service or otherwise);
  • remove the copyright or trade mark notice from any copies of Content;
  • create a database in electronic or structured manual form by systematically downloading and storing all or any of the Content.

6. Responsibilities of User

You are responsible for any use of the Site made by you.
You undertake to use your best endeavours to ensure that nothing you do whilst accessing the Site will damage the Site.

7. No Warranties and Exclusion of Liability

Whilst FRM shall use reasonable efforts to obtain information from sources which we believe to be reliable, FRM gives no warranty as to the accuracy, completeness or reliability of any information, opinions or forecasts contained on the Site, nor does it undertake to ensure that this Site will be available or accessible at all times. FRM shall have no liability (whether in contract, tort or otherwise) for any direct, indirect, consequential or special losses or damages of any kind whatsoever arising from or in connection with the access to, use of or linking to other websites ("Linked Websites") from this Site or any reliance on any of the Content.

Linked Websites are not operated by or affiliated with FRM. While we aim to point you to useful external websites, we cannot be responsible for their content or accuracy and accordingly accept no liability with respect thereto or for any reliance placed upon such websites, even if you utilise the services on the linked site to invest in our products. The protection of your personal information on other websites is not governed by FRM’s privacy policy and FRM cannot be responsible for the privacy policies utilised on such third party sites, nor for the implementation of such policies by those third parties. You should review the Terms and Conditions of third party websites and contact the operators of such sites if you have any queries.

FRM is not liable for persons or matters beyond its reasonable control (such as telephone and other communications networks, the internet or your internet service provider).

These exclusions of liability do not apply to the extent that such exclusions are invalid or ineffective under any law or regulation applicable to FRM.

8. Investment Performance

Users should note that investments can involve significant risks and the value of an investment may go down as well as up. There is no guarantee of trading performance and past or projected performance is not necessarily a guide to future results.

9. No Reliance

Nothing contained on this Site constitutes investment, legal, tax or other advice or a recommendation to purchase or sell any investment. You should not rely on any of the Content in making an investment or other decision.

10. Miscellaneous

You should be aware that any rules and/or regulations applicable to the provision of financial services (and the resultant investor protection benefits that may be available), may not be applicable to interfacing conducted through the internet medium and its various applications, of which this material forms part.

11. Jurisdiction

These Terms, your access to and use of the Site and the Content and any dispute or claim arising out of or in connection with these Terms or your use of the Site and Content shall be governed by and construed in accordance with English law.

The courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with these Terms or their subject matter, save that FRM may enforce its rights in the courts of any jurisdiction having competence to issue an injunction directly enforceable against you.

12. Viruses, Hacking and other offences

You must not misuse the Site by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to the Site, the server on which the Site is stored or any server, computer or database connected to the Site. You must not attack the Site via a denial-of-service attack or a distributed denial-of service attack.

By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use the Site will cease immediately.

We will not be liable for any loss or damage caused by a distributed denial-of-service attack, viruses or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of the Site or to your downloading of any material posted on it, or on any Linked Website.

13. Changes to the Site

We aim to update the Site regularly, and may change the Content at any time. If the need arises, we may suspend access to the Site, or close it indefinitely. You should check the Site regularly to check the Content. We may make changes to these Terms at any time. You should check the Site regularly to check these Terms.

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