Intended Audience and Use of Website Content

Unless otherwise stated in relevant sections of the site, this site is targeted at and intended for the use of UK residents only. No offer or invitation is made to any other persons. In particular, no offer or invitation is made to any US persons (being residents of the United States of America or partnerships or corporations organised under the laws of the United States of America or any state, territory or possession thereof), who are excluded from the services or products offered in this site.

The information available on this site does not constitute an offer of, or an invitation to apply for or purchase, any securities. In particular, the information does not constitute an offer of, or an invitation to apply for or purchase, securities in any jurisdiction where such offer or invitation is unlawful or in which the person making such an offer is not qualified to do so or to whom it is unlawful to make such offer or solicitation. The distribution of this information in written format is generally restricted to the UK, with the exception of the Artemis International SICAV which is available in other jurisdictions (see section below).

The information has been issued and approved by Artemis and does not in any way constitute investment, legal, tax or other advice. Before making any investment you should read, understand and retain the relevant investment product or service documentation. If you are in any doubt about any of the information on this website, or the suitability of any investment product or service to your needs, please consult your financial or other professional adviser.

Certain products or investment services managed by Artemis are not generally considered suitable for private investors. Therefore, certain areas of the website are password protected, or require additional confirmation that you are an appropriately experienced or qualified investor. This website also contains links that lead to other websites. These links are provided solely for your convenience and do not constitute any endorsement, sponsorship or approval of the materials appearing in such sites.

Risk Warnings

Please note the following risk warnings:

• The past performance of an investment is not a guide to future performance.
• The value of investments, and the income from them, may go down as well as up and is not guaranteed so an investor may not get back the amount originally invested. Any tax reliefs mentioned are those currently available and are subject to change.
• If the funds hold securities denominated in a currency other than sterling, changes in exchange rates may affect the value of your investment.
• Where charges are taken wholly or partly out of a fund's capital, distributable income will be increased at the expense of capital which will either be eroded or future growth constrained.

Investment in the securities of smaller and unquoted companies can involve greater risk than is customarily associated with investment in larger, more established companies. In particular, smaller companies often have limited product lines, markets or financial resources and may be dependent for their management on a smaller number of key individuals. In addition, the market for securities in smaller companies is often less liquid than that for securities in larger companies, bringing with it potential difficulties in acquiring, valuing and disposing of such securities. Proper information for determining their value or the risks to which they are exposed may also not be available.

Some funds will often carry greater risks in return for higher potential rewards. Specialist funds, which invest in specialist markets or small sectors of industry, are likely to carry higher risks than most general funds. Investment in technology related stocks can be more volatile than investment in more established companies. Above average price movements can be expected.

Any tax reliefs mentioned, such as for PEPs, ISAs or VCTs, are those currently available and may therefore change. Their value depends on the circumstances of the individual investor.

Unit Trusts

The Artemis unit trusts are collective investment schemes authorised by the Financial Services Authority. Before making any investment in the unit trusts you should read the relevant Scheme Particulars or Prospectus and, if appropriate, the Key Features and Terms and Conditions. These are all available on this site.

Investment Trusts

Artemis Investment Management Ltd is the investment manager of the Artemis Alpha Trust plc, an investment trust listed on the London Stock Exchange which adheres to the UK Listing Authority's rules. Investment trusts have independent Boards of Directors. Please note that, as the shares in investment trusts are traded on a stockmarket, the share price will fluctuate in accordance with supply and demand and may not reflect the underlying net asset value of the shares. Depending on market conditions and market sentiment, the spread between the purchase and sale price can be wide. Investment trusts may also borrow money in order to make further investments. This is known as "gearing" and can enhance shareholder returns in rising markets but, conversely, can reduce them in falling markets.

Venture Capital Trusts

Artemis Investment Management Ltd is the investment manager of a number of Venture Capital Trusts (‘VCTs’). Please note that the Artemis VCTs invest in AiM, OFEX and unquoted companies which by their nature involve a higher degree of risk than investment in companies traded on the main market of the London Stock Exchange. Existing tax levels and reliefs may change and the value of relief depends on individual circumstances. If a VCT loses its Inland Revenue approval, tax reliefs previously obtained may be lost. Any decision to invest in a VCT should not be made for their tax efficiency alone but always as part of your total portfolio planning. VCT shares must be held for at least three years to receive the full tax benefits. A VCT's shares, although listed, may not be easy to sell at full value. Trading in VCT shares is not particularly active, so shares tend to be valued at a discount to their net asset value.

It is important that prospective investors read the full explanation of the risks involved, which are contained in the Prospectus. Investment in a VCT carries a higher risk than many other forms of investment and potential investors are strongly advised to seek professional advice.

Hedge Funds

Artemis European Hedge Fund Limited, Artemis UK Hedge Fund Limited and Artemis Global Hedge Fund (the "Funds") are unregulated collective investment schemes, the promotion of which in the United Kingdom is restricted by Section 238 of the Financial Services and Markets 2000 (the "Act"). Shares may not be offered or sold in the United Kingdom other than to investors of a kind described in the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001, namely: firms authorised to carry on investment business under the Act; and institutional and other investors who have experience of alternative, unregulated investments such as hedge funds.

Distribution of shares in the Funds may be restricted in other jurisdictions and you should satisfy yourself of investment, tax and other relevant requirements of the jurisdiction in which you are domiciled before making any investment. In particular, the Funds have not been registered under the United States Securities Act 1933 or the Investment Company Act 1940 but shares may be sold under a private placement to "qualified purchasers".

Investment is limited to certain types of investors and hedge funds are not generally considered suitable for private investors. You will be asked to read additional risk warnings and confirm your eligibility before being given access to further information on the hedge funds.

SICAV

The Artemis International SICAV (the “Fund”) is organised under the laws of the Grand Duchy of Luxembourg as a société d'investissement a capital variable (a "SICAV"). The Fund is an investment company which offers investors a choice between several classes of shares (each a “Class”) in a number of sub-funds (each a “Sub-Fund”). Each Sub-Fund qualifies as a UCITS. Subscriptions for shares in the Sub-Funds, which are listed on the Luxembourg Stock Exchange, can only be made on the basis of the current prospectus and simplified prospectus.

Shares in the Sub-Funds are not available for sale in any jurisdiction in which the sale would be unlawful. Currently the Fund is registered in Luxembourg and is only available for sale in that country. If you are not a resident of that country, you should be authorised to conduct investment business in the state within which you are resident, and under the law of that state, authorised to view material relating to collective investment schemes or other investments which are authorised in Luxembourg.

Artemis International SICAV is not authorised by the UK’s Financial Services Authority and is not subject to their rules for the protection of investors. As a result, investors will not have any protection under the UK Financial Ombudsman Scheme or the UK Financial Services Compensation Scheme, nor will you have any rights of cancellation. You will be asked to read additional risk warnings and confirm your eligibility before being given access to further information on the Artemis International SICAV.

Legal Information/Notice

Artemis and the Artemis Coin are the registered trade marks of Artemis Investment Management Limited. The entire contents of the site are subject to copyright with all rights reserved.

For the protection of all parties, your telephone calls to Artemis may be recorded.

Artemis may make changes to the web site materials at any time without notice and without obligation to update the materials contained on these web pages.

You may download or print individual sections of the site for personal use and information only provided 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 the site without the prior written permission of Artemis.

You must not transmit any virus, 'worm', 'Trojan horse', or other item of a destructive nature to this site and it is your responsibility to ensure that whatever you download or select for your use from the site is free from such items.

This site shall be governed by, and your browsing in and use of the site shall be regarded as a deemed acceptance of, Scots law. A condition of using the site is that, in the event of any dispute or proceeding, you irrevocably submit to the exclusive jurisdiction of the Scottish Courts 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.

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