THIS WEBSITE IS ONLY MADE AVAILABLE TO PROFESSIONAL CLIENTS AND ELIGIBLE COUNTERPARTIES.

The content of this website has been prepared by Polar Capital on the basis of information and sources believed to be reliable.

Under no circumstances should any part of this website be construed as an offering or solicitation of an offer. Any investment in the products of this site should only be made on the basis of an Offering Memorandum or Prospectus. Polar Capital LLP is authorised and regulated by the Financial Conduct Authority.

1. Not for U.S. Persons

The provision of the information in this web site does not constitute an offer of securities to any person in the United States or to any U.S. Person as defined under the Securities Act of 1933, as amended. The information contained in this site about Polar Capital and/or any of its affiliates is not directed to any person in the United States. Funds referred to herein are neither registered under the Securities Act 1933 of the USA, nor are they registered under the Investment Company Act of 1940. Consequently, they cannot be offered for sale or be sold in the USA, its territories, possessions or protectorates under its jurisdiction, nor to nationals, citizens or residents in any of those areas.

No investments or services mentioned on this website are directed at US Persons who are not Professional Clients or Eligible Counterparties as defined by the UK Financial Conduct Authority (FCA) Handbook or Qualified Purchasers as defined under the Investment Company Act of 1940. The information contained herein does not constitute a distribution, an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such distribution or offer is not authorised.

2. Terms and Conditions of Use

IMPORTANT LEGAL NOTICE

THE FOLLOWING TERMS AND CONDITIONS OF USE ("TERMS OF USE") APPLY TO YOUR ACCESS TO AND USE OF THE POLAR CAPITAL WEBSITE (THE “WEBSITE”). EACH TIME YOU ACCESS OR USE THIS WEBSITE, YOU AGREE TO COMPLY WITH, AND BE BOUND BY, THE TERMS OF USE AND ACKNOWLEDGE THAT WE MAY RELY UPON YOUR AGREEMENT. PLEASE READ THE FOLLOWING TERMS OF USE CAREFULLY AND IF YOU DO NOT ACCEPT ANY TERMS OR CONDITIONS, PLEASE DO NOT ACCESS OR USE THIS WEBSITE.

3. Information on the Website

Except where stated otherwise, the information, content and services on this Website (the “Information”) are provided by Polar Capital (referred to as "we" and "us") as at the date indicated on the relevant material.

The Information is provided for personal use and information purposes only. The Information does not take account of the investment objectives, financial situation and particular needs of any particular person and is not general advice to any class of persons. Therefore, you should not rely on the Information and should obtain relevant and specific professional advice in making any investment decision.

Furthermore, nothing on this Website constitutes or should be construed to constitute

• (i) an offer, advice, invitation or solicitation from us or our affiliates to buy or sell any investments or securities, futures, options or other financial instruments;
• (ii) an invitation or inducement to engage in investment activity or a financial promotion of any kind; or
• (iii) investment advice or recommendation.

4. Stock Exchange Prices and Exchange Rates

The prices/values shown on this Website in relation to different underlying securities are based on the prices notified to Polar Capital by third parties as the last sale price of the relevant securities on the stock exchange on which they are traded as at the time and date shown. Those figures may vary throughout the course of, and between, stock exchange trading days, market trading times and business days in general. Polar Capital has not verified the figures with the relevant stock exchange and you should verify the accuracy of those figures separately before relying on them.

5. Permitted Users of the Website

The laws and regulations of the country from which you access this Website may include restrictions on the distribution of the Information. This Website is not directed at or intended for distribution to or use by any person or entity in any jurisdiction where (by reason of that jurisdiction’s applicable securities laws, person’s nationality, residence or otherwise) such distribution, publication, availability or use of this Website or any part of its contents would be contrary to applicable law or regulation or would subject Polar Capital or its affiliates to any registration or licensing requirement within such jurisdiction. If you are such a person or entity, you are not authorised to enter the Website. It is your responsibility to ensure that your use of this Website complies with any restrictions or any applicable local laws regarding use of the Information on this Website. Persons or entities in respect of whom such restrictions apply must not access the relevant pages on this Website.

The Information displayed on this Website contains material that may be interpreted by the relevant authorities in the country where you are viewing this Website as a financial promotion or an offer to purchase securities. Accordingly, if you reside in any such country or fall within the scope of any law that seeks to regulate financial promotions in the country of your residence or in the country in which you are viewing this Website, please cease accessing or using this Website immediately.

Certain materials on this Website have been created specifically for certain jurisdictions and as such it is your responsibility to ensure you navigate to the correct prepared material. Polar Capital will not be responsible to you for your access to any material incorrect for the jurisdiction that you require.

If you are uncertain about your position under the laws of the country in which you are viewing this Website, then you should seek clarification by obtaining legal advice from a lawyer practicing in the country of your residence or in the country in which you are viewing this Website before accessing this Website.

You may not use any part of the material or Information on this Website to establish, maintain or provide or assist in establishing, maintaining or providing a stock market for trading in securities.

Shares listed on this website have not been and will not be registered under the United States Securities Act of 1933 and may not be offered, sold or otherwise transferred directly or indirectly to any United States citizen or resident or to any corporation, partnership, trust or other entity chartered or organized under the laws of any jurisdiction in the United States of America, its territories or possessions.

6. Investment Performance and Accuracy of Information

The Site contains material about the past performance of the Funds. The value of an investment in a Fund may go up as well down so that an investor's investment in a Fund, when redeemed, may be more or less than the original investment amount. By its nature, investment in a Fund managed by Polar Capital is only suitable for sophisticated investors who do not require immediate liquidity for their investment, for whom an investment in a Fund does not constitute a complete investment programme and who fully understand and are willing to assume the high risk involved in the investment programme of a Fund.

THE PAST PERFORMANCE OF ANY INVESTMENT, INVESTMENT STRATEGY OR INVESTMENT STYLE IS NOT INDICATIVE OF FUTURE PERFORMANCE.

Whilst the information contained on the Website has been given in good faith and every effort has been made to ensure its accuracy, the Information may not be complete or accurate for your purposes. This Website and the Information is provided on an "as is" basis and Polar Capital Partners may not, and has no obligation to, update the Information or correct any inaccuracy which subsequently becomes apparent. The Information and/or opinions and estimates comprised in the Information may be changed or withdrawn without notice and may become outdated. You, therefore, should verify any information or other material obtained from this Website before you use it.

POLAR CAPITAL, ITS RELATED BODIES CORPORATE, THE DIRECTORS OR OFFICERS OF THOSE ENTITIES, OR THEIR AGENTS DISCLAIM ALL REPRESENTATIONS AND WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING BY WAY OF EXAMPLE BUT NOT LIMITATION AS TO RELIABILITY, COMPLETENESS, FITNESS FOR PURPOSE OR ACCURACY OF THE INFORMATION ON THIS WEBSITE OR ON ANY THIRD PARTY WEBSITE LINKED TO THIS WEBSITE.

IN ADDITION, WE DO NOT REPRESENT OR WARRANT THAT THIS WEBSITE OR THE SERVERS THAT MAKE THE WEBSITE AVAILABLE WILL BE UNINTERRUPTED, ERROR FREE, OR FREE FROM INFECTION, VIRUSES, WORMS OR ANY OTHER HARMFUL CODE WHICH MAY HAVE CONTAMINATING OR DESTRUCTIVE PROPERTIES. YOU ARE FULLY RESPONSIBLE FOR ENSURING PROTECTIVE STEPS TO BE TAKEN SUCH AS VIRUS CHECKING.

The Information is assembled from material prepared by Polar Capital or its agents but may not include Information made known to Polar Capital officers (or agents) subsequent to the date of publication of the Information indicated on the Website. If you use the Information, you do so at your own risk. Please recognise that the previous performance of securities or other instruments does not guarantee or predict future performance.

7. Exclusion of Liability

TO THE FULLEST EXTENT PERMITTED BY LAW, POLAR CAPITAL, ITS AFFILIATES, OFFICERS OR AGENTS ACCEPT NO LIABILITY TO YOU OR ANY THIRD PARTY FOR ANY LOSSES OR DAMAGES, INCLUDING, WITHOUT LIMITATION, DIRECT OR INDIRECT DAMAGES, CONSEQUENTIAL OR SPECIAL DAMAGES, LOSS OF USE, DATA OR PROFITS, COSTS OR EXPENSES INCURRED OR SUFFERED BY YOU OR THIRD PARTY, WHETHER IN CONTRACT OR DUE TO NEGLIGENCE OR OTHER TORTIOUS ACTION, ARISING OUT OF OR IN CONNECTION WITH THE ACCESS TO, USE OF, RELIANCE ON, OR PERFORMANCE OF THIS WEBSITE OR ANY INFORMATION CONTAINED ON THIS WEBSITE, WHETHER DUE TO INACCURACY, ERROR, OMISSION OR ANY OTHER CAUSE AND WHETHER ON THE PART OF US, OUR SERVANTS, AGENTS OR ANY OTHER PERSON.

NOTHING IN THE TERMS OF USE EXCLUDES, RESTRICTS OR MODIFIES ANY CONDITION, WARRANTY OR LIABILITY WHICH MAY AT ANY TIME BE IMPLIED BY STATUTE OR ANY OTHER APPLICABLE LAW WHERE TO DO SO IS ILLEGAL OR WOULD RENDER ANY PROVISION OF AN AGREEMENT VOID.

8. Third Party Websites

We may provide, on our Website, links to websites operated by third parties as a convenience to you. If you use these other sites, you will leave this Website. If you decide to visit any linked site, you do so at your own risk and it is your responsibility to take all protective measures to guard against viruses or other destructive elements.

Polar Capital makes no representations, warranties or guarantees of any kind about any of the content of any other website which you may access by hypertext link through this Website. When you access any other website by means of a link from this Website, you should understand that your access to that other website is independent of Polar Capital and Polar Capital has no control over the content of the website, nor does Polar Capital in any way endorse or approve the content of that website. In no event will Polar Capital in any way be liable to you or any other person(s) or organisation(s) for loss or damage (whether direct, indirect, consequential, special or other) for any use of any site linked to it by means of hypertext or otherwise.

9. Indemnity

You agree to indemnify Polar Capital and its officers, agents and affiliates from and against any claim brought by third parties against Polar Capital Partners and its officers, agents and affiliates as a consequence of your breach of the Terms of Use. Furthermore, if your use of this Website results in the need for servicing, repair or correction of equipment, software or data, you assume all costs thereof.

10. Intellectual Property Rights and Licence

The copyright, trade mark or any other intellectual property rights in the Website and the Information are owned by or licensed to Polar Capital. You may download or print out a hard copy of individual pages and/or sections of this Website provided you do not remove any copyright or other proprietary notices. Any downloading or other copying from this Website will not transfer title to any software or material to you. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link to or use for any public or commercial purpose this Website without the prior written permission of Polar Capital. Any rights not expressly granted in the Terms of Use are reserved. Accessing this website does not permit you to distribute data where you would be required to have a license otherwise.

11. Operation of the Website

You should be aware that the internet, being an open network, is not secure. If you choose to send any electronic communications by means of this Website, you do so at your own risk. Polar Capital cannot guarantee that such communications will not be intercepted or changed or that they will reach the intended recipient safely.

12. Privacy

Any personal data relating to you will be collected, used and recorded by us in accordance with the Data Protection Act of 1998 and will comply with relevant legislative changes,, the Terms of Use and our Privacy Policy below. You must read our Privacy Policy as it forms part of the Terms of Use.

13. Governing Law

The Terms of Use are governed by the laws of England and Wales and the courts of England and Wales will have exclusive jurisdiction over any disputes arising under them.

14. Waiver

If you breach the Terms of Use and we take no action, we will still be entitled to use our rights and remedies in any other situation where you breach the Terms of Use.

15. Password Confidentiality

With respect to the private portion of the Website, you must keep your password confidential. You are solely responsible for maintaining the confidentiality and security of your password. You may not disclose your password to any third party. You accept full responsibility for any use of your password. You must notify Polar Capital immediately of any actual or suspected loss, theft or unauthorized use of your password. We are not obligated to inquire as to the authority or propriety of any use of or action taken under your password. We will not be responsible for any loss to you that arises from such use or action or from your failure to comply with these provisions.

Privacy Policy

Polar Capital is committed to preserving the privacy of all visitors to its website ("Website"). Please read the following privacy policy to understand how we use and protect the information that you provide to us.

BY ACCESSING THIS WEBSITE, YOU CONSENT TO THE COLLECTION, USE AND TRANSFER OF YOUR INFORMATION UNDER THE TERMS OF THIS PRIVACY POLICY AND THE TERMS OF USE OF THIS WEBSITE.

1. Information That We Collect From You

When you visit our Website, you may be asked to provide certain information about yourself including your name and contact details. We may also collect information about your usage of this Website as well as information about you from e-mails, letters or any other correspondence between you and us. Polar Capital does not undertake any obligations of non-disclosure or non-use of material received. Accordingly, please do not send any confidential or proprietary material to Polar Capital.

2. Use of Your Information

Your information may be used for marketing and internal analysis purposes by Polar Capital, its investment manager and their respective affiliates and officers. We may also use and analyse the information we collect so that we can improve and develop our Website. In particular, we may use your information to contact you for your views on our Website and notify you occasionally about important changes or developments to the Website. Further, where you have consented, we might also use your information to let you know about products and services which we offer which may be of interest to you.

3. Disclosure of Your Information

The information you provide to us may be accessed by or given to our staff working outside the UK and third parties who act for us for the purposes set out in this policy and Terms of Use or for other purposes approved by you. Those parties process information and provide support services on our behalf. Otherwise, Polar Capital will not disclose your personal data to third parties, except where you have given your consent or where Polar Capital is under legal or regulatory obligation to do so.

4. Cookies

Polar Capital may use “cookies” to process and record information concerning your visit to and use of the Website and identify you when you visit the Website and to enhance your experience of the Website. “Cookies” are small pieces of information that your internet browser places on your computer’s hard drive. “Cookies” may be used for remembering user names and preferences, tracking click streams and in the future for presenting users with personalised versions of the Website. You have the option of setting your browser to block “cookies”. Please refer to the "help" function of your internet browser for instructions. In some cases blocking “cookies” may reduce the functionality of the Website or prevent access to it depending on your chosen internet browser options.

5. Security and Data Retention

To safeguard the confidentiality of your personal data and information contained in this Website, Polar Capital implements security measures in line with industry standard practices. The web servers are housed behind a secure firewall that prevents access to databases from unauthorised users. All of the servers are housed in a secure environment that is protected by physical security, with limited access to authorised staff only. We will retain your information for a reasonable period or as long as the law requires.

6. Accessing and Updating

You are entitled to see the information held about you and you may ask us to make any necessary changes to ensure that it is accurate and kept up to date. If you wish to do this, please contact us.

7. Changes to Our Privacy Policy

Changes to the Polar Capital privacy policy will be posted on this Website.

8. Contact

If you have any comments, queries and requests relating to our use of your information please contact us at:

Polar Capital
16 Palace Street
London
SW1E 5JD
United Kingdom
Tel: +44 (0)20 7227 2700

Updated and effective as of 28 September 2017