All persons using the UCITS section of the Hosking Partners Website (“Website”) expressly agree to the following disclaimer as a pre-condition to using this Website for any purpose whatsoever. This Website is not for retail investors and is directed only at investment professionals as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. The Website is intended solely for the use of professional clients or eligible counterparties, as defined under the UK Financial Conduct Authority’s rules, who can understand the risks inherent in the instruments offered or managed by Hosking Partners. Any person subscribing for an investment must be able to bear the risks involved and must meet any applicable suitability requirements relating to such investments. The Website is not intended as, and is not to be taken as an offer or solicitation with respect to, the purchase or sale of any security or interest, nor does it constitute an offer or solicitation in any jurisdiction, including those in which such an offer or solicitation is not authorised to any person to whom it is unlawful to make such a solicitation or offer.

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. Hosking Partners will not be responsible if you access any material which is incorrect for your jurisdiction nor for your access to any material incorrect for the jurisdiction that you require.

By clicking on the “Agree” button, you certify that you are a professional investor or eligible counterparty (as defined in the FCA’s rules) in your own Jurisdiction, that you agree to the Regulatory and Legal Disclosures on this Website (as supplemented by this notice) and that nothing prevents you from obtaining access to the information available on this website. The Website is not intended to constitute and should not be construed as investment advice.