Terms of Use

Please read the following Important Information and then click the appropriate option box below.

About ECM

This website is operated by ECM Asset Management Limited ("ECM") and ECM is communicating the information both inside and outside the United Kingdom.

ECM is registered in England and Wales with registration number 03710963 and has its registered office at 34 Grosvenor Street, London, W1K 4QU, United Kingdom. Telephone +44 (0)20 7529 7400. ECM is authorised and regulated by the Financial Conduct Authority ("FCA") and is entered in the FCA register (Register Number 190608). ECM's VAT number is 739975170. General enquiries about the day to day operation of services by ECM should be made via telephone +44 (0)20 7529 7400 or sent to info@ecm.com or such other address as ECM may notify to you.

Investment Information

The information contained on this website is designed solely for professional clients (as is further detailed below). If you are not a professional client you should not proceed any further. The content of this website should not be looked at or distributed to retail clients.

The information contained on this website is current at the date of publication but is subject to change without notice. ECM has expressed its own views and opinions on this website and these may change without notice.

Certain products and services mentioned on this website may not be eligible for sale in some states or countries and they may not be suitable for all types of investors. This website does not constitute an offer or solicitation, must not be relied upon in connection with any investment decision, is not directed at you if ECM is prohibited by any applicable law, rule or regulation of any jurisdiction from making the information on this website available to you and is not intended for any use that would be contrary to any applicable local law, rule or regulation. No products and services mentioned on this website must be promoted in any jurisdiction where this would not be permitted. Accordingly persons are required to inform themselves of and observe any such restrictions.

Many of the products referred to in the website constitute Unregulated Collective Investment Schemes ("UCIS") for the purposes of the Financial Services and Markets Act 2000 (as amended from time to time, "FSMA 2000"), and are not recognised schemes under Section 264 of FSMA 2000. As unregulated schemes, these cannot be marketed in the United Kingdom to the general public, except to persons who: (a) have professional experience in matters relating to investments within the meaning of Article 19(5) of the FSMA 2000 (Financial Promotion) Order 2005 ("the Order"); (b) are high net worth companies, unincorporated associations and other persons within the meaning of article 49(2) of the Order; or (c) are persons to whom it may otherwise lawfully be communicated. Accordingly, the information in this website is intended exclusively for persons to whom UCIS may be promoted by virtue of the Order, FSMA 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2005 or the rules of the FCA. Such persons include the following categories, as defined in legislation and by the FCA: Professional Clients and Eligible Counterparties, which broadly comprise regulated financial institutions, large pension funds, large corporates, high net worth individuals, sophisticated investors and investment professionals (each a "Professional Client").

Many of the protections provided by the United Kingdom regulatory structure may not apply to investments in ECM's investment vehicles, including access to the Financial Services Compensation Scheme and the Financial Ombudsman Service.

The products mentioned on this website that constitute Undertakings for Collective Investment in Transferable Securities ("UCITS") may not be eligible for sale in some states or countries and they may not be suitable for all types of investors. This website is not intended to distribute or offer or solicit the sale of such products in any jurisdiction in which such distribution, or offer or solicitation would be considered contrary to local law or regulation. Please contact your local representative (see Contacts tab) to confirm the latest registration status of these UCITS products.

If you are in any doubt as to whether you are permitted to invest in any of ECM's investment vehicles, you should contact your financial adviser who will also be able to discuss the suitability of such an investment with you and who will be able to obtain further information concerning the investments by contacting us on your behalf. Persons using this website should consult their professional advisers as to whether they require any consent or need to observe any other formalities before they can invest in the products described in this website. Persons resident outside of the United Kingdom should also refer to the applicable offering document of the relevant investment vehicle for further specific jurisdictional information (in particular, persons resident in the United States of America should refer to the eligibility criteria and the definition of "US Person" in such documentation).

Subscriptions for shares or notes in any of ECM's investment vehicles will only be made on the basis of the current offering document and applicable formative documentation for the relevant investment vehicle. No person has been authorised to give any information or to make any representation other than those contained in the current offering document and applicable formative documentation for the relevant investment vehicle and, if given or made, such information or representation must not be relied upon as having been authorised by ECM or the relevant investment vehicle. It is your responsibility to use such offering document and by making an application you will be deemed to represent that you have read such offering document and agree to be bound by its contents. Copies of the relevant offering document can be obtained from ECM. Additional information on this website has been prepared by ECM and is believed to be reliable but there is no guarantee as to the accuracy or completeness of it. This website does not constitute investment advice. Past performance is not indicative of future results.

By clicking the box below, you confirm that you are from an eligible jurisdiction to review material relating to the particular ECM investment vehicle (or are authorised to conduct investment business in the jurisdiction within which you are resident and under the law of that jurisdiction and you are authorised to view material relating to such investment vehicle).

This website does not constitute investment, legal, tax or other advice with respect to ECM's products and services and it is important that you do not rely on its content when making an investment decision. You should obtain relevant and specific professional advice before making any decision to enter into an investment transaction. ECM does not represent that the information on this website, including any third party information, is accurate or complete and it should not be relied upon as such.

There are significant risks associated with investment in the ECM investment vehicles outlined in this website. Investment in all such vehicles is intended for Professional Clients who can accept the risks associated with such an investment including a substantial or complete loss of their investment. The applicable offering document will contain more detailed risk warnings relevant to the particular ECM investment vehicle.

The value of investments and the income of any financial instrument mentioned in the website may go down as well as up and you may not get back the original amount invested. Your capital could be at risk. You are not certain to make money from your investments and you may lose money. Exchange rates may cause the value of overseas investments and the income therefrom to rise and fall. Certain investments, in particular high yield products and emerging markets, involve an above average degree of risk and should be seen as long-term in nature.

The investment products and services described in this website may have tax consequences. The levels and bases of and reliefs from taxation may change. Any tax reliefs referred to are those currently available and their value depends on the circumstances of the individual investor. You acknowledge that levels and bases of taxation may change and that ECM does not provide tax advice. Investors should consult their own tax adviser in order to understand any applicable tax consequences of the products and services described in this website.

Your use of the website

This page sets out the terms on which you may make use of this website and apply to every page on the website, whether or not such pages are individually disclaimed. Please read these terms carefully before you start to use the website. By using the website, you have indicated that you accept these terms and that you agree to abide by them. If you do not agree to these terms, please refrain from using the website.

The information herein is current at the date of publication but is subject to change without notice. You should review this Important Information section regularly as your continued use constitutes agreement to all such changes. Whilst ECM seeks to ensure that the information on this website is accurate and complete at the date of publication, ECM does not warrant the adequacy, accuracy or completeness of this information and does not accept any liability arising from any inaccuracy or omission in or the use of or reliance on the information on this website. You are advised to verify the accuracy of any information before relying on it. ECM will not assume any liability for any loss or damage of any kind arising, whether direct or indirect, caused by the use of the information provided. This does not exclude or restrict any duty or liability that ECM has to its clients under the FSMA 2000 or any other liability to any party that cannot be excluded by law.

You must not use the website (or permit or procure others to use it) as follows:

When using the website, you must comply with all applicable local, national and international laws, rules and regulations, including those related to data privacy, international communications and exportation of technical or personal data. It may be illegal to download the information contained on the website in certain countries and we and our affiliated companies disclaim all responsibility if you download any information from the website in breach of any law or regulation of the country in which you reside.

Intellectual property rights

The entire contents of this website are subject to copyright with all rights reserved. You may download or print individual sections of the website for your personal use and information only provided that 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 this website without the prior written permission of ECM. You must not transmit any computer virus, worms", software bonds, harmful code, Trojan horses, or other similar items or processes to the website and it is your responsibility to ensure that whatever you download or select for your use from the website is free from such items. Nothing on this website should be construed as granting any licence or right in relation to any of our intellectual property rights or those of our affiliated companies or any third party.

No warranty

The website, including information and materials contained in the website, text, graphics, software, links and other items are provided "as is", "as available". ECM does not warrant the accuracy, adequacy, completeness, timeliness or availability of the website, and expressly disclaims liability for errors or omissions in the website. There is no warranty of merchantability, no warranty of fitness for a particular purpose, no warranty of non-infringement, no warranty of any kind, implied, express or statutory, in conjunction with the website. The internet is not a secure medium of communication unless the data being sent is encrypted. ECM cannot accept any responsibility for unauthorised access by a third party or the corruption of data sent to it.

Limitation of liability

In no event will ECM be liable for any damages, including, without limitation, direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the website or use thereof or the inability by any party to use such website, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure, even if ECM, or representatives thereof, are advised of the possibility of such damages, losses or expenses.


No company or person may link their website to www.ecm.com without the written permission of ECM. Where a link to a non-ECM website exists, to the extent permitted by the FCA Rules, ECM does not accept responsibility for the content of such website nor the products, services or other items offered through that website. The inclusion of any link does not imply affiliation, sponsorship, endorsement, verification or monitoring or approval by ECM of any information contained in any non-ECM website. You should also be aware that the terms and conditions of such website and the website's statement relating to the collection and use of your personal information may be different from those applicable to your use of this website.


A cookie is an element of data that a web site can send to your browser, which may then store it on your system. ECM may use cookies in some of the pages of this website to record session information and for analysing traffic to the website. You can adjust settings on your browser so that you will be notified when you receive a cookie, giving you a choice to either refuse or accept it. By agreeing to these terms (by selecting "I agree to these terms" above or below), you give your consent to the use of cookies in respect of your access to this website.

Unsolicited calls

Investment firms are aware that investors have received unsolicited telephone calls or correspondence concerning investment matters. Should you be contacted in this way, it may be an example of a "boiler room" scam specifically designed to convince you to buy overpriced, untradeable or non-existent shares. Boiler rooms are unauthorised share fraud firms which may use high pressure sales tactics and the names, registration numbers and addresses of firms and individuals authorised by the FCA in an attempt to convince consumers of their legitimacy. Dealing with an unauthorised firm or individual means you will not have access to the complaints procedures of the Financial Ombudsman Service, nor will you be eligible to receive payment under the Financial Services Compensation Scheme if things go wrong.

Further information on the operation of boiler room frauds is available by visiting the FCA website at https://www.fca.org.uk/consumers/share-fraud-boiler-room-scams

Law and variation

This website and your browsing in and use of this website, and any non-contractual obligations arising out of or in connection with it shall be governed the laws of England. A condition of using this website is that in the event of any dispute or proceeding you irrevocably submit to the exclusive jurisdiction of the courts of England 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 forum. ECM may revise this Important Information at any time by amending this page. You are expected to check this page from time to time to take notice of any changes ECM makes, as they are binding on you.

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

Commitment to the UK stewardship code

Under Rule 2.2.3R of the FCA's Conduct of Business Sourcebook, ECM Asset Management Limited (the "Firm") is required to include on this website a disclosure about the nature of its commitment to the UK Financial Reporting Council's Stewardship Code (the "Code") or, where it does not commit to the Code, its alternative investment strategy. The Code is a voluntary code and sets out a number of principles relating to engagement by investors with UK equity issuers.

The Firm pursues a fixed income strategy that does generally not result in it trading in single equities. Consequently, while the Firm supports the general objectives that underlie the Code, the provisions of the Code are generally not relevant to the type of trading currently undertaken by the Firm. If the Firm's investment strategy changes in such a manner that the provisions of the Code become relevant, the Firm will amend this disclosure accordingly.