Legal information

Witan Investment Services Limited is authorised and regulated by the Financial Conduct Authority, registered in England no. 5272533 of 14 Queen Anne’s Gate, London SW1H 9AA. This website is issued and approved by Witan Investment Services Limited, registered in England no. 5272533 of 14 Queen Anne’s Gate, London SW1H 9AA. The VAT registration number for Witan Investment Services is 863 5738 89.

Terms of use

Terms

Contents

1. Our details

2. Your responsibility for others who access our website using your device or internet connection

3. Other documents governing your use of our website

4. Availability of our website

5. Changes we may make to these Terms of Use and other documentation

5.1 We reserve the right to update these Terms of Use, our privacy policy, our cookies policy and any other documentation referred to in any of these documents from time to time. We may change our Terms of Use and other documentation for any reason, including:
(a) to reflect any changes in the way we carry out our business;
(b) to account for any changes we make to our website, including, without limitation, any new features or functionality we provide, any adjustments to the means by which we provide notices to you, or any changes in the content, purpose or availability of the website;
(c) to accurately describe our current data-processing activities so that you are kept up to date with our latest practices;
(d) to inform you of any changes in the way that we use cookies or similar information-gathering technologies; or
(e) to ensure that our documentation complies and remains compliant with any and all current and future applicable laws, regulations and official guidance.
5.2 If required by law, we will provide you with notice of any changes in these Terms of Use or the other documentation referred to in them by posting a notice on the website and/or by posting an updated version of these Terms of Use or other such documentation on our website with a new effective date stated at the beginning of them.
5.3 By continuing to access our website after we have updated our Terms of Use you agree to be bound by the updated version. You also acknowledge that by continuing to access our website after we have updated our privacy policy and/or our cookies policy, that the practices set out in those updated policies will apply to our handling of your information and our use of cookies and similar technologies.
5.4 You must check these Terms of Use and all other documentation referred to in them each time you access our website in order to ensure that you are aware of the terms that apply to you at that time.
5.5 The date that these Terms of Use and/or any other documents (including our privacy policy and cookies policy) were last amended is set out at the top of that document and is referred to as that document’s “effective date”.

6. Ownership of material on our website

6.1 All trade marks, service marks, trade names, logos, copyright and other intellectual property rights in our website and its content are either owned by us or licensed to us. All such rights are protected by intellectual property laws around the world, and all rights are reserved. Any use of the website and its contents, other than as specifically authorised herein, is strictly prohibited. Any rights not expressly granted herein are reserved by us.
6.2 The trade marks, service marks, trade names, logos and other branding owned by third parties and used or displayed on or via our website (collectively, “Third Party Mark(s)”) may be trade marks of their respective owners, who may or may not endorse or be affiliated with or connected with us. Except as expressly provided in these Terms of Use, or in terms provided by the owner of a Third Party Mark, nothing in these Terms of Use or on or via the website should be construed as granting, by implication, estoppel, or otherwise, any licence or right to use any of our or any Third Party Marks that are used or displayed on the website, without the respective owner’s prior written permission, in each instance. All goodwill generated from the use of our trade marks will benefit us exclusively.
6.3 Our website uses the Morningstar, Inc. (Morningstar) ratings on its literature, to which the following copyright notice and disclaimers apply: © 2013 Morningstar. All Rights Reserved. The information, data, analyses and opinions (Information) contained herein: (1) include the proprietary information of Morningstar and its content providers; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don't make any investment decision except upon the advice of a professional financial adviser. Past performance is not guarantee of future results. The value and income derived from investments may go down as well as up.
6.4 Our website and other materials also features information relating to the Witan Investment Trust Benchmark, Source: MSCI. The MSCI data is comprised of a custom index calculated by MSCI for, and as requested by, Witan Investment Trust plc. The MSCI data is for internal use only and may not be redistributed or used in connection with creating or offering any securities, financial products or indices. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data (the “MSCI Parties”) makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and the MSCI Parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall any MSCI Parties have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.
6.5 Our website uses the FE Crown Fund Ratings on its literature, to which the following copyright notice and disclaimers apply: ©2018 FE. All Rights Reserved. The information, data, analyses, and opinions contained herein: (1) include the proprietary information of FE, (2) may not be copied or redistribute, (3) do not constitute investment advice offered by FE, (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and (5) are not warranted to be correct, complete, or accurate. FE shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. FE does not guarantee that a fund will perform in line with its FE Crown Fund Rating as it is a reflection of past performance only. Likewise, the FE Crown Fund Rating should not be seen as any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision.

7. Information and content on our website provided on non-reliance basis

7.1 Our website is made available to you in order to provide you with general information about us, our business, and any products or services that we offer from time to time. We do not make our website available for any other purposes, except as expressly provided in these Terms of Use. The information contained in this website is not an offer or invitation to deal in or acquire an investment, and should therefore not be relied upon by any person anywhere other than in the United Kingdom or by any person in any jurisdiction where such an offer or invitation would be unlawful.
7.2 Any prices and other information on this website or a linked website are provided solely to enable you to make your own investment decisions and do not constitute personal recommendations or advice.
7.3 The content on our website is not intended to be construed as advice. You must not rely on any of the content of our website for any purposes whatsoever, and you must seek your own independent professional advice before deciding to take any course of action on the basis, whether in whole or in part, of any of the content available on our website at any time. If you are unsure about the meaning of any information provided on this website, then please consult your financial or other professional adviser. We do not offer investment advice. It is your responsibility to determine the suitability of any investment for you based on your objectives and your personal and financial situation. You are strongly recommended to take independent financial, tax and/or legal advice before entering into any financial transaction or applying for any of our products.
7.4 We make no representations and provide no warranties whatsoever, whether express or implied, that any of the content or materials available on our website from time to time are accurate, up to date or complete.
7.5 An application for any of WIS's investment products should be made having read fully not only the relevant application form, but also, for UK investors, the relevant terms and conditions of the Key Information Document, brochure, and latest annual or semi-annual report applicable to the chosen product. All these relevant documents can be found on this website. It is your responsibility to review such documentation and in any event by making an On-Line Application you will be deemed to be representing that you have read such applicable documentation and agree to be bound by its contents.
7.6 Our affiliates, officers and/or employees may have holdings in WIS’s investment products and may otherwise be interested in transactions that you effect in those products.
7.7 Please remember that past performance of an investment is not a guide to future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Tax assumptions may change if the law changes, and the value of tax relief (if any) will depend upon your individual circumstances. Investors should consult their own tax advisers in order to understand any applicable tax consequences.

8. Permitted use of materials on our website

9. Prohibited uses of our website

9.1 You must not reproduce, duplicate, copy or resell any part of our website or any content from our website, save and except to the extent expressly permitted in these Terms of Use.
9.2 You must not, without our prior written consent, access, interfere with, damage or disrupt in any way our website or any part of it, our systems, any of our hardware or equipment or any networks on which our website is hosted, any software that we use to create or modify the website or to make the website available to you, or any hardware, equipment, network, server, software or technology owned or operated by us or any third party.
9.3 You must use our website for lawful purposes only and in accordance with these Terms of Use. You must not use our website:
(a) for any purpose that is unlawful or that in any way breaches any applicable laws or regulations, whether local, national or international;
(b) for any fraudulent purposes whatsoever;
(c) to conduct any unsolicited or unauthorised advertising or direct or indirect marketing to anyone by any means, or to otherwise spam, communicate with or market to anyone any goods, services or business not authorised by us;
(d) to upload, host or transmit any viruses, malware, adware, spyware, worms, Trojan horses, keystroke loggers, spyware, logic bombs, time bombs or any other harmful programs or code which could adversely affect the use or operation of the website, our hardware or systems, or the computers, tablets, phones or other devices of any users or other third parties, or to upload any content or materials containing any such content;
(e) to communicate with, harm or attempt to harm children in any way; or
(f) in any way or for any purpose that breaches these Terms of Use or the terms of any of the documents these Terms of Use refer to.
9.4 You must not submit any information about you to us if you are under the age of 18, or about any other person who is either:
(a) under the age of 18; or
(b) if they are aged 18 or above, where you have not received their prior written consent to submit information about them to us.
9.5 You must not submit to us any information which is considered ‘sensitive personal information’. ‘Sensitive personal information’ is information about you or any other person which reveals your or their racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership or which is genetic data, biometric data, information which concerns your or their health, sex life or sexual orientation.
9.6 If you accidentally or intentionally submit such information to us, you will be considered to have consented to our processing of that information on the basis of Article 9(2)(a) of the General Data Protection Regulation (Regulation (EU) 2016/769).

10. Viruses and other harmful content

11. Links to other websites

12. Links to our website

13. Exclusions and limitations of liability

13.1 We do not exclude our liability to you where it would be unlawful to do so, for example, for death or personal injury caused by our negligence. If applicable law does not allow all or any part of the below limitations of liability to apply to you, the limitations will apply to you only to the maximum extent permitted by applicable law.
13.2 Subject to the aforesaid, in no event shall we (including our parents, subsidiaries, affiliates, officers, directors, members, employees or agents) under any circumstances whatsoever be liable to you for any loss, damage (whether direct, indirect, punitive, actual, consequential, incidental, special, exemplary, or otherwise) costs, expenses, liabilities or penalties, whether in contract, tort, breach of statutory duty or otherwise, whether foreseeable or unknown, arising from, in connection with or relating to:
(a) your use of our website;
(b) any corruption or loss of data;
(c) any inability to access our website, including, without limitation, any interruptions, suspension or withdrawal of our website (for any reason whatsoever);
(d) any use you make of any content or materials on our website, including any reliance you make on such content or material;
(e) any loss of savings, profits, sales, business or revenue;
(f) any loss of reputation or goodwill;
(g) any loss of savings;
(h) any loss of a chance or opportunity; or
(i) any other secondary, consequential or indirect losses,
and even if we have been advised of the possibility of such loss or damage, without limitation, you assume and shall be liable for the entire cost of all necessary servicing, repair or correction in the event of any such loss, damage, costs, expenses, liabilities or penalties arising.
13.3 We shall not be liable for any damage that you could have avoided by following our advice to apply an update offered to you free of charge or for damage that was caused by you failing to correctly follow installation instructions or to have in place the minimum system requirements advised by us.
13.4 You specifically agree that we shall not be liable for any content or the defamatory, offensive or illegal conduct of any third party and that the risk of harm or damage from the foregoing rests entirely with you.
13.5 You agree that in the event that you incur any damages, losses or injuries arising out of, or in connection with, our acts or omissions, the damages, if any, caused to you are not irreparable or sufficient to entitle you to an injunction preventing any exploitation of any website, service, property, product or other content owned or controlled by us, and you will have no rights to enjoin or restrain the development, production, distribution, advertising, exhibition or exploitation of any website, property, product, service, or other content owned or controlled by us.
13.6 To the extent that any of the provisions of this clause 14 (EXCLUSIONS AND LIMITATIONS OF LIABILITY) are unenforceable as outright exclusions of liability, they shall be construed as limitations on liability, limiting our liability to you to the maximum extent permitted by law.
13.7 Some of the information contained on this website may also have been prepared or provided by third parties and may not have been verified by us. We hereby exclude any liability arising out of any preparation or provision of such information for the website and makes no warranty as to the accuracy, suitability or completeness of any such information.

14. Indemnification

15. Disclaimers

15.1 The website is provided on an “as is”, “as available” and “with all faults” basis. to the fullest extent permissible by law, we do not make any representations or warranties or endorsements of any kind whatsoever, express or implied, as to:
(a) the service;
(b) the website content;
(c) user content; or
(d) security associated with the transmission of information to the website.
in addition, we hereby disclaim all warranties, express or implied, including, but not limited to, the warranties of merchantability, fitness for a particular purpose, non-infringement, title, custom, trade, quiet enjoyment, system integration and freedom from computer virus.
15.2 We do not represent or warrant that the service will be error-free or uninterrupted, that defects will be corrected, or that the service or the server that makes the service available is free from any harmful components, including, without limitation, viruses. we do not make any representations or warranties that the information (including any instructions) on the service is accurate, complete or useful. you acknowledge that your use of the website is at your sole risk. we do not warrant that your use of the website is lawful in any particular jurisdiction, and we specifically disclaim such warranties. some jurisdictions limit or do not allow the disclaimer of implied or other warranties so the above disclaimer may not apply to you to the extent such jurisdiction's law is applicable to you and these terms of use.
15.3 By accessing or using the website you represent and warrant that your activities are lawful in every jurisdiction where you access or use the service.
15.4 We do not endorse content and specifically disclaim any responsibility or liability to any person or entity for any loss, damage (whether actual, consequential, punitive or otherwise), injury, claim, liability or other cause of action of any kind or character based upon or resulting from any content.
15.5 Our website and any products or services available on or via the website (other than Junior ISAs) are not intended for use by individuals under the age of 18.

16. Governing law and jurisdiction

Privacy policy

Summary of conflicts of interest policy

Conflicts of Interest

Witan Investment Services Ltd – Conflicts of Interest Policy: A Summary Description

Our policy remains to always manage any conflict in your best interests, to always disclose any conflict where relevant and to not undertake the activity if a conflict cannot be effectively managed (and disclosure would not be appropriate). Our aim is to ensure that there is effective management of conflicts that may arise when our interests and yours differ or where discharging our duties to one client could make it difficult to comply with the duties owed to another client. For instance, a potential conflict could arise in instances where we aggregate your order to purchase or sell shares with those of another client or where we act for both the buyer and seller in a transaction. Additionally, a conflict could arise between our interests and yours when the underlying investment trusts undertake transactions in their own shares. We will ensure that we will not knowingly act on your behalf in relation to a transaction unless we have taken reasonable steps to ensure your fair treatment. Where we are unable to manage a specific conflict, we will notify you of the circumstances in order that you are able to take an informed decision of whether to proceed with the transaction or not.

We operate a Conflicts of Interest Policy which is communicated to all relevant employees and which identifies the types of conflict that may arise and provides instructions on the management of those conflicts. Under the Policy, we maintain a record of identified potential conflicts. Further, we regularly review our business to identify potential conflicts of interest and to assess whether we are taking appropriate steps to manage those that could have an adverse effect on clients. Formal reports are made to the Board and senior management. There are also specific policies and procedures on when and how employees are permitted to undertake personal account transactions, restrictions on the offering and receiving of gifts to or from clients, and an outright ban on any gift that could be construed as an inducement. As part of our conflicts management policy we also consider the way in which our staff are remunerated, in order to ensure that remuneration structures do not create a conflict between incentives given to staff and our clients’ best interests. Any client who wishes, may receive a copy of the full Conflicts of Interest Policy.

WIS reserves the right to terminate your access to and use of this website at any time and for any reason without prior notice.

These Terms and Conditions (Legal Information, including the privacy and cookie policies) may be updated from time to time. You agree that it is your responsibility to check if any such updates have been made since you last visited this website, as any changes will be binding.

These Terms and Conditions, and any agreements relating to online applications, will be governed by English law.

Tax Evasion Policy

Recent regulations have brought into force, with effect from 30 September 2017, two new corporate offences of “failure to prevent facilitation of tax evasion”. The offences are contained in the Criminal Finances Act 2017, which received Royal Assent in April 2017.

The new offences of failure to prevent facilitation of UK and foreign tax evasion are modelled on the offence of “failure to prevent bribery” in the Bribery Act 2010. A body corporate or a partnership (a “relevant body”) may be prosecuted for failure to prevent the facilitation of tax evasion if:

a person evades tax;
an associate of the relevant body, such as an employee, agent or subcontractor, criminally facilitates that evasion while acting in their capacity as an associate of the relevant body; and
the relevant body is unable to show that they had in place reasonable prevention procedures (or that it was not reasonable for prevention procedures to be in place).

Liability can arise whether or not the relevant body had knowledge of the evasion or facilitation, and whether or not the associate intended to benefit the relevant body.

The Board of the Company has adopted a zero tolerance approach to the criminal facilitation of tax evasion. Accordingly, it expressly prohibits any Director or any associated persons, including suppliers, agents or third parties, when acting on behalf of the Company, from taking any action which would, or could be deemed to, facilitate tax evasion on behalf of the Company.

The Directors of the Company recognise their responsibilities in ensuring that the Company has a robust policy to avoid such practices and to ensure compliance with its legal obligations. The Board requires that it is informed immediately of any identified instances of tax evasion within any of its principal service providers and details of the corrective courses of action taken.

As part of a risk based approach, the Board will carry out an annual risk assessment on matters relating to tax evasion, involving due diligence enquiries in respect of persons who perform or will perform services for or on behalf of the Company, in order to mitigate identified risks. Due diligence records will be kept and be made available for inspection by compliance or statutory auditors.

The Board will review this policy at least on an annual basis and will ensure that it is publicly available on the Company’s website.

Anti-Bribery and Corruption Policy (Abridged)

Introduction
Witan Investment Trust plc/Witan Investment Services Limited (“The Group”) is committed to the highest standards of ethical conduct and integrity in our business activities in the UK and overseas. It is our policy to conduct business in an honest way, and without the use of corrupt practices or acts of bribery to obtain an unfair advantage. This is not just a cultural commitment on the part of our organisation; it is a legal requirement.

The actions and conduct of all our officers, partners and employees (collectively, “all personnel”), as well as others acting on our behalf, are essential to maintaining these standards. To that end, all personnel, both permanent and temporary, must read, become familiar and comply with this Anti-Bribery and Corruption Policy (“the Policy”) and our written procedures on gifts and inducements included at Appendix IV of the Compliance Manual. We will also review the procedures of any third party providers, agents, consultants and contractors involved in providing services on or behalf to ensure that they have appropriate anti-bribery and corruption arrangements in place. We will only conduct business with firms or entities that we believe adhere to the same principles.

Scope and Purpose
The Group’s anti-bribery and corruption arrangements, included in this policy, cover all personnel and any third parties or agents providing services on its behalf. It also applies in all jurisdictions and covers both the public and the private sector. The policy covers the requirements of the Bribery Act 2010 in the United Kingdom but also other pre-existing legislation around the world such as the the United States’ Foreign Corrupt Practices Act (“FCPA”).

Bribery has been defined in guidance issued by the UK’s Ministry of Justice (“MoJ”) as “giving someone a financial or other advantage to encourage that person to perform their functions or activities improperly or to reward that person for having already done so”. So, for instance, this could cover seeking to influence a decision-maker by giving some kind of extra benefit to that decision maker, whether it be through the payment of a facilitation fee, a political donation or the provision of excessive hospitality.

The intention of the policy is to ensure that all financial transactions and activities undertaken by us and on our behalf do not violate global anti-bribery laws and do not represent unethical conduct. Violations of the Bribery Act can have significant consequences for you as an individual, us as a firm and any individuals associated with our business. This can include criminal investigations and prosecution, significant financial penalties, loss of reputation and business; and for individuals, substantial personal fines and potential imprisonment with a maximum term of 10 years.

Failure to comply with our Policy and any related arrangements could result in disciplinary action taken against you, including the termination of your employment and notification of your actions to the relevant authority.
Demonstrating the existence of “adequate procedures” is the main defence to an allegation of failure to prevent bribery and the guidance has set out six guiding principles within the Act which the Boards of the Group should consider. These are:
Proportionality: a group’s procedures to prevent bribery by persons associated with it are proportionate to the bribery risks it faces and to the nature, scale and complexity of its activities. They are also clear, practical, accessible, effectively implemented and enforced.
Top level commitment: the directors are committed to preventing bribery by persons associated with the company. They foster a culture within the organisation in which bribery is never acceptable.
Risk assessment: the group assesses the nature and extent of its exposure to potential external and internal risks of bribery on its behalf by persons associated with it. The assessment is periodic, informed and documented.
Due diligence: the group applies due diligence procedures, taking a proportionate and risk based approach, in respect of persons who perform or will perform services for or on behalf of the organisation, in order to mitigate identified bribery risks.
Communication: the group seeks to ensure that its bribery prevention policies and procedures are embedded and understood throughout the organisation through internal and external communication, including training that is proportionate to the risks it faces.
Monitoring and review: the group monitors and reviews procedures designed to prevent bribery by persons associated with it and makes improvements where necessary.

Hospitality and promotional expenditure: the Government has confirmed that it does not intend that genuine hospitality or similar expenditure that is reasonable and proportionate should be caught by the Bribery Act.

The Boards of the Group have adopted a zero tolerance approach to instances of bribery and corruption. Accordingly it expressly prohibits any Director or associated persons when acting on behalf of the Group, accepting, soliciting, paying, offering or promising to pay or authorise any payment, public or private, in the United Kingdom or abroad to secure any improper benefit for themselves or for the Group.
The Directors of the Group recognise their responsibilities in ensuring that the Group has a robust policy to avoid such practices and to ensure compliance with its legal obligations. The Boards have requested that they are informed immediately of any identified instances of bribery or corruption within any of its principal service providers, and that a copy of the anti Bribery and Corruption Policy and a report detailing any identified instances of bribery or corruption and details of the corrective courses of action taken are provided for their review on an annual basis.
As part of a risk based approach, the Boards will carry out an annual risk assessment on matters relating to bribery, involving due diligence enquiries in respect of persons who perform or will perform services for or on behalf of the Group, in order to mitigate identified risks. However, the Boards confirm that such a review will be carried out more frequently if, for example, Witan Investment Trust’s investment policy were to change, if a perceived low risk country of investment became a higher risk or if a new investment manager, manager or other principal service provider were appointed. Due diligence records will be kept and made available for inspection by compliance or statutory auditors.

Senior Management Responsibility

Engagement policy and Stewardship Code statement

Shareholder Rights Directive II – Witan Investment Services Limited Statement

Last updated: August 2022