www.omamukhedgefunds.com

Terms and conditions of use

1. About Old Mutual

www.oldmutualhedgefunds.co.uk ("this website") is a website operated by Old Mutual Asset Managers (UK) Limited ("Old Mutual"). The information on this website is issued by Old Mutual both inside and outside the United Kingdom.

Old Mutual Asset Managers (UK) Limited is registered in England with registration number 2949554 and has its registered office at 2 Lambeth Hill, London EC4P 4WR, Tel 020 7332 7500/Fax 020 7489 5252/e-mail info@omam.co.uk. Authorised and regulated by the Financial Services Authority. VAT number 386130159.

2 Investment information

The information on this website is not directed at any person in the United States and the website is not intended to be used by any person in the United States.

The content of this website is provided for information purposes only and is not an offer to purchase shares. Subscription for shares or units in any of the companies detailed in this website are to be made on the terms of the relevant prospectus and no reliance should be placed on the information in this website. The download or distribution of the information contained in this website may be restricted by law and persons who access it are required to inform themselves and comply with any such restrictions. The information on this website does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not authorised to or to any person to whom it is unlawful to make such an offer or solicitation. Investment involves risk. The value of shares may go down as well as up. Past performance is no guarantee of future results.

All companies are unregulated collective investment schemes under the United Kingdom Financial Services and Markets Act 2000 ("FSMA"), and therefore do not carry the protection provided by the UK regulatory system. The information on this website is directed only at persons to whom such investment funds may lawfully be promoted by a person authorised under FSMA (an "authorised person") by virtue of Section 238(5) of FSMA and Annex 5 of Chapter 3 of the Financial Services Authority ("FSA") Conduct of Business Sourcebook. Shares in the investment funds referred to on this website are only available to such persons and information on this website must not be relied or acted upon by any other persons. Investors in the investment funds referred to on this website will not benefit from the rules and regulations made under FSMA for the protection of investors, nor from the Financial Services Compensation Scheme. Shares in the investment funds referred to on this website are not dealt in or on a recognised or designated investment exchange for the purposes of FSMA, nor is there a market maker in such shares, and it may therefore be difficult for an investor to dispose of his shares otherwise than by way of redemption. Please refer to the prospectus of the relevant investment product for further information. We strongly recommend that you seek professional investment advice before making any investment decision.

Information included herein (including any expression of opinion or forecast) has been obtained from, or is based on, sources believed by Old Mutual to be reliable, but is not guaranteed as to its accuracy or completeness. The information contained in this website does not constitute an offer to buy or sell, or amount to a solicitation or incitement of offer to buy or sell, or any securities referred to herein. The content of this website is not intended to provide financial, legal, accounting or tax advice to any user and should not be relied upon in that regard.

3 Your use of this website

These terms and conditions set out the terms on which you may make use of this website and apply to every page of this website, whether or not these terms and conditions appear on each individual page. Please read these terms and conditions carefully before you start to use this website. By using this website, you have indicated that you accept these terms and conditions and that you agree to abide by them. If you do not agree to these terms and conditions, please refrain from using this website.

You must NOT use this website (or permit or procure others to use it) as follows:

(A) for any unlawful, improper or illegal purpose or activity;

(B) to communicate or receive information that is obscene, indecent, pornographic, sadistic, cruel, or racist in content, of a sexually explicit or graphic nature, which promotes or incites discrimination, hatred or racism or which might be legally actionable for any reason;

(D) to violate Old Mutual’s or any third party's copyright, trademark, proprietary or other intellectual property rights;

(E) to damage Old Mutual’s name or reputation or that of Old Mutual’s affiliated companies or any third parties;

(F) to impersonate any of Old Mutual’s employees or other person or use a false name while using this website or implying an association with Old Mutual;

(G) to penetrate Old Mutual’s security measures or other entities' systems ("hacking");

(H) to transmit unsolicited voluminous emails (for example, spamming) or to intercept, interfere with or redirect email intended for others using this website;

(I) to generate excessive amounts of internet traffic, to interfere with Old Mutual’s network or other’s use of this website or to engage in activities designed to or having the effect of degrading or denying service to users of this website or others;

(J) to introduce viruses, worms, harmful code and/or Trojan horses onto the internet or into this website or any other entity’s systems and it is your responsibility to ensure that whatever you download or select for your use from this website is free from such items;

(K) to post or transmit information that is defamatory, fraudulent or deceptive, including but not limited to scams such as "make-money-fast" schemes or "pyramid/chain" letters; and/or

(L) to transmit confidential or proprietary information, except solely at your own risk.

When using this website, you must comply with all applicable local, national and international laws 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 this website in certain countries and Old Mutual and their affiliated companies disclaim all responsibility if you download any information from this website in breach of any law or regulation of the country in which you reside.

4 User identification code

You will be provided with a user identification code and password to access this website. You must treat this information as confidential and you must not disclose it to any third party or allow any third party to access this website using your user identification code or password. You are responsible for any use of this website by any third party to whom you have disclosed your user identification code and/or password. You agree to notify Old Mutual immediately if you suspect any unauthorised use of this website or of your user identification code or password.

5 Termination and suspension of access to this website

Old Mutual reserves the right to deny you access to this website, or immediately to suspend or terminate your access to this website, or to disable any user identification code or password (whether chosen by you or allocated by Old Mutual) at any time if your use of this website (in Old Mutual’s sole discretion) in any manner breaches these terms and conditions.

6 Liability for use of this website

Access to this website is permitted on a temporary basis and Old Mutual reserves the right to withdraw or amend the service it provides on this website without notice. Old Mutual does not accept any liability if for any reason this website is unavailable at any time or for any period.

The materials and information displayed on this website are provided without any guarantees, conditions or warranties as to accuracy or completeness and are not intended to amount to advice on which reliance should be placed. Old Mutual disclaims all liability and responsibility arising from any reliance placed on such materials and information by any visitor to this website, or by anyone who may be informed of any of its contents.

Information and opinions contained on this website have been compiled or arrived at by Old Mutual from sources believed to be reliable. However, to the extent permitted by law, Old Mutual, their affiliated companies and other third parties connected to Old Mutual hereby expressly exclude all conditions, warranties, representations and other terms which might otherwise be implied by statute, common law or the law of equity and any liability for any direct, indirect or consequential loss or damage of any kind incurred by any user in connection with this website or in reliance on the information or opinions contained in it, or in connection with the use, inability to use, or results of the use of this website or any websites linked to it or materials posted on it. This does not affect Old Mutual’s liability for any loss or damage which cannot be excluded or limited under applicable law and does not exclude or restrict any duty or liability that Old Mutual has to their customers under the regulatory system in the United Kingdom.

The internet is not a completely reliable transmission medium and neither Old Mutual nor any of their affiliated companies accept any liability for any data transmission errors such as data loss or damage or alteration of any kind or for the security or confidentiality of information transmitted across the internet to or from Old Mutual or any of their affiliated companies. Any such transmission of information is entirely at your own risk. This does not exclude or restrict any duty or liability that Old Mutual has to their customers under the regulatory system in the United Kingdom.

Where this website contains links to other sites and resources provided by third parties, these links are provided for your information only. Old Mutual has no control over the contents of those websites or resources and neither Old Mutual nor any of their affiliated companies make any representation as to the accuracy or completeness of such websites or resources and have not and will not review or update them. Neither Old Mutual nor any of their affiliated companies accept any responsibility for websites and resources provided by third parties or for any loss or damage that may arise from your use of them. This does not exclude or restrict any duty or liability that Old Mutual has to their customers under the regulatory system in the United Kingdom.

7 Intellectual property rights

Old Mutual is the owner or the licensee of all intellectual property rights in this website, and in the materials published on it. Those works are protected by laws and treaties around the world. All such rights are reserved. You may use the materials on this website and download and reproduce them in hard copy for your own reference only provided you retain all copyright and other proprietary notices. Such materials may not otherwise be reproduced, distributed, stored in a data retrieval system, linked to, modified or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise) without the prior written consent of Old Mutual Fund Managers Limited. Nothing on this website should be construed as granting any licence or right in relation to any of Old Mutual’s trademarks or those of their affiliated companies or any third party.

8 Law and variation

These terms and conditions are governed by and shall be construed in accordance with the laws of England and Wales. English courts will have exclusive jurisdiction over any dispute arising from, or related to, use of this website and it is a condition of using this website that you waive any objection to proceedings in such courts on the grounds of venue or that proceedings have been brought in an inconvenient forum, although Old Mutual retain the right to bring proceedings against you for breach of these terms and conditions in your country of residence or any other relevant country.

Old Mutual may revise these terms and conditions at any time by amending this page. You are expected to check this page from time to time to take notice of any changes Old Mutual make, as these are binding on you.

9 Your personal data

Old Mutual may collect and process the following data about you in accordance with these terms and conditions:

(A) information that you provide by filling in forms on this website, including information provided at the time of registering to use this website, subscribing to Old Mutual’s service, posting material or requesting further services;

(B) if you contact Old Mutual, Old Mutual may keep a record of that correspondence and may record telephone calls for security and customer services purposes;

(D) details of your visits to this website and the materials and information that you access.

for the following purposes:

(1) to ensure that content from this website is presented in the most effective manner for you and for your computer;

(2) to provide you with information, products or services that you request from Old Mutual or which Old Mutual feel may interest you, where you have consented to be contacted for such purposes;

(3) to allow you to participate in interactive features of Old Mutual’s service, when you choose to do so; and

(4) to notify you about changes to Old Mutual’s service.

10 Disclosure of your personal data

Old Mutual may disclose your personal data to their affiliated companies outside the European Economic Area for the purposes stated above. Old Mutual may also disclose your personal data to third parties located outside the European Economic Area:

(A) in the event that Old Mutual sell or buy any business or assets, in which case Old Mutual may disclose your personal data to the prospective seller or buyer of such business or assets;

(B) if Old Mutual Asset Managers (UK) Limited and/or Old Mutual Fund Managers Limited or substantially all of their assets are acquired by a third party, in which case personal data held by them about their clients will be one of the transferred assets; and

(C) if Old Mutual are under a duty to disclose or share your personal data in order to comply with any legal obligation, or in order to enforce or apply the terms and conditions of this website or other agreements, or to protect the rights of Old Mutual, their customers, or others.

By using this website, you consent to processing of your personal data in accordance with these terms and conditions and you warrant that all data provided by you is accurate.

11 Use of cookies

Old Mutual may obtain information about your general internet usage by using a cookie file which is stored on the hard drive of your computer, for the purposes of systems administration and statistical analysis. Cookies contain information that is transferred to your computer's hard drive and help Old Mutual to improve this website and to deliver a better and more personalised service to you, including by storing information about your preferences and to recognise you when you return to this website.

You may refuse to accept cookies by activating the setting on your browser which allows you to refuse the setting of cookies. However, if you select this setting you may be unable to access certain parts of this website. Unless you have adjusted your browser setting so that it will refuse cookies, Old Mutual’s system will issue cookies when you log on to this website.