T Bailey

Legal information

LEGAL & REGULATORY INFORMATION

This information has been issued by T. Bailey Asset Management Limited (TBAM) which is authorised and regulated in the United Kingdom by the Financial Services Authority and is a member of the Investment Management Association (IMA).

The following information explains certain legal and regulatory restrictions in relation to the information contained in this website and the countries in which T. Bailey funds are authorised.

Important information regarding the use of this website

Please read the information on this page as it contains the legal and regulatory restrictions which apply to any investment in our products or services. If you continue to browse and use this website you are agreeing to comply with and be bound by the following terms and conditions of use, which together with our Privacy Policy govern T. Bailey Asset Management and T. Bailey Fund Managers' ("T. Bailey's") relationship with you in relation to this website.

This website and these terms and conditions are issued by:

T. Bailey Asset Management Limited (TBAM) 64 St. James's Street, Nottingham, NG1 6FJ Registered in England and Wales, No: 3720372 FSA registration number: 190291

T. Bailey Fund Managers Limited (TBFM) 64 St. James's Street, Nottingham, NG1 6FJ Registered in England and Wales, No: 3720363 FSA registration number: 190293

 

Both TBAM and TBFM are authorised and regulated by the Financial Services Authority.

Intended audience and use of website content

Nothing contained on this website constitutes investment advice and it is important that you do not rely upon its content to make investment decisions.

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 resident in 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 jurisdictions in which the T. Bailey funds are currently authorised are as follows: T. Bailey ISAs and Unit Trusts are authorised in the UK only. Please note that T. Bailey may from time to time introduce new funds or achieve registration of existing funds in other countries. You are therefore urged to contact T. Bailey to check the current position.

Whilst T. Bailey uses all reasonable efforts to ensure that the information on this website is accurate and up to date, neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this website for any particular purpose. T. Bailey accepts no liability for any damage or loss of profit whether direct, indirect or consequential in respect of the use of this website or its content. However, we do not exclude or restrict any liability that we may have under the Financial Services Authority rules and principles and any other applicable law or regulations in England and Wales.

The content of the pages of this website is for your general information and use only. The information contained in this website may be changed by T. Bailey at any time without notice.
Your use of any information or materials on this website is entirely at your own risk, for which we shall not be liable. It shall be your own responsibility to ensure that any products, services or information available through this website meet your specific requirements.

From time to time this website may also include links to other websites. These links are provided for your convenience to provide further information. They do not signify that we endorse the website(s). We have no responsibility for the content of the linked website(s). You may not create a link to this website from another website or document without T. Bailey's prior written consent.

Unauthorised use of this website may give rise to a claim for damages and/or be a criminal offence.

Risk Warnings

Market risk

Investments in the Schemes are subject to normal stock market fluctuations and other risks inherent in such investments. The value of your investments and the income derived from them can go down as well as up, and you may not get back the money you invested. In other words there is no assurance that any appreciation in value will occur and no assurance that the investment objectives of any Fund will actually be achieved. In certain circumstances, you will have the right to cancel your initial investment. However, it should be noted that cancellation may mean that you do not receive back the full amount invested if the value of the investment falls before a cancellation notice is given.

Performance risk

The performance and risk levels of the Schemes will vary according to individual fund selections. There is no guarantee for the performance level of the Schemes and no guarantees are given by third parties. Past performance is not a reliable indicator of future results. Charges Capital appreciation in the early years will be adversely affected by the impact of initial charges*, which by their nature are not levied uniformly throughout the life of the investment. Where an initial charge is imposed, if you sell your units after a short period you may not get back the money you invested, even if there has not been a fall in value of the underlying investments. You should, therefore, regard your investment in the Schemes as medium-to-long term.

*Only the Retail classes (149bps TER and 179bps TER for TBGFL) make an initial charge. The initial charge for the Institutional classes (99bps TER and 129bps TER for TBGFL) is zero.
A dilution levy may be charged on the purchase or sale of units in certain circumstances. Where this is not applied the fund in question may incur dilution, which may constrain capital growth.

Exchange or Currency risk

The T. Bailey Funds will be predominantly invested in Collective Investment Schemes, which in turn can invest in overseas investments, and may also hold cash in foreign currencies or currency forwards from time to time. As a result, changes in exchange rates between currencies may cause the value of your investment to increase or diminish.

Derivatives

The Manager may use the powers given by the Sourcebook to enter into derivative transactions for hedging or efficient portfolio management purposes with the intention of reducing risk, reducing cost or generation of capital or income with a risk profile which is consistent with the risk profile of the relevant scheme. This outcome, however, is not guaranteed.
Capital risk

If you choose to make withdrawals, the performance of the T. Bailey Funds may not be sufficient to cover the payments and you will suffer some capital erosion.

Regular savers

If you start your Regular saver’s scheme in order to build up a particular sum by a certain date, this target may not be achieved if the investment value does not grow as expected or if you fail to maintain your contributions.

Inflation risk

Inflation may occur over the duration of your investment, and will affect the future buying power of your capital.

Emerging Markets

A proportion of the T. Bailey Funds can be invested in the Emerging Markets regions. Investment may carry risks associated with failed or delayed settlement of market transactions and with registration and custody of securities. Investing in Emerging Markets may involve a higher than average risk and may not afford the same level of investor protection as would apply in more developed jurisdictions.

Settlement risk

A settlement in a transfer system may not take place as expected due to a failure of that transfer system or because a counterparty does not pay or deliver on time as expected.

Taxation

Statements on taxation are based on the current position in the UK as at the time of publication. The value of investments could alter as a result of future legislation. There can be no guarantee that the tax position prevailing at the time of investment will endure indefinitely. There may also be other taxes applicable to the investment and any unitholder or potential investor in doubt as to their tax position should take professional advice.

Political/ Regulatory risk

The value of the assets of the T. Bailey Funds may be affected by uncertainties such as international political developments, changes in government policies, restrictions in foreign investment and other developments in the laws and regulations of countries in which investment may be made.

Counterparty risk

There is a risk that an issuer or counterparty will default.

Exchange Traded Funds (“ETFs”)

Some of the funds invest in ETFs. An ETF is an open-ended investment company which is traded on an exchange. ETFs experience price changes throughout the day as they are bought and sold and the market price can therefore deviate from the net asset value.

ETFs do not share a common structure - for example some will invest directly in the asset class appropriate to them (e.g. a FTSE 100 tracking ETF which invests in FTSE 100 shares) while others may use derivatives to obtain such exposure and/ or to short the market or to provide leverage. Where derivatives are used, there is an additional counterparty risk as the ETF will not always physically hold the underlying assets and therefore there is a risk that a counterparty could default which could result in a loss not represented by the underlying index.

Investment Trusts

The T. Bailey Funds may invest in geared investment trusts, whose price may be discounted in relation to their underlying asset value. Some of these holdings may also be relatively illiquid and there is therefore a risk that a position cannot be liquidated in a timely manner.

Bonds

The Funds may hold, either directly or via other Collective Investment Schemes, higher yielding government and corporate bonds where there is an increased risk of capital erosion through default or if the redemption yield is below the income yield.

Fixed-interest securities are particularly affected by trends in interest rates and inflation. If interest rates go up, the value of capital may fall, and vice versa. Inflation will also decrease the real value of capital. The value of a fixed-interest security will fall in the event of the default or reduced credit rating of the issuer. Generally, the higher the rate of interest, the higher the perceived credit risk of the issuer. High yield bonds with lower credit ratings (also known as sub-investment grade bonds) are potentially more risky (higher credit risk) than investment grade bonds. A sub-investment grade bond has a Standard & Poor’s credit rating of below BBB or equivalent.

Geographical Focus

It should be noted that whilst the underlying funds may have a geographical focus the managers of those funds may choose from time to time to allocate parts of their funds to a different region (provided such action is in line with the investment powers afforded to the managers of those funds).

ISA specific risks

The value of tax benefits depends on individual circumstances. If you redeem or exercise your right to cancel your ISA you will irrevocably lose any favourable tax treatment associated with an ISA holding.

For ISA transfers, there is potential for a loss of income or growth, following a rise in the markets, whilst we await receipt of the ISA transfer from your current provider.

ISAs are subject to Government legislation and as such their tax benefits and investment levels may be changed in the future.

Information, not advice

T. Bailey does not give investment advice based on individual circumstances. If you have any doubt whether any of the T. Bailey funds are suitable for you and you wish to obtain personal advice, please contact an independent financial adviser.

Personal Investing

For the T. Bailey Dynamic Cautious Managed Fund and the T. Bailey Defensive Cautious Managed Fund some or all of the annual management fee is currently charged to the capital of the Fund. Whilst this increases the yield, it will restrict the potential for capital growth.

T. Bailey does not give investment advice based on individual circumstances. If you have any doubt whether any of the T. Bailey funds are suitable for you and you wish to obtain personal advice, please contact an independent financial adviser.

An application for any of the T. Bailey funds can be made by completing the relevant application form. The Prospectus and the Key Investor Information document should be read and understood prior to investing. Retail clients should also read the Supplementary Information document. A full prospectus can be obtained from T. Bailey Asset Management Limited, 64 St. James Street, Nottingham, NG1 6FJ. Copies of the half yearly and annual reports may also be obtained from this address.

For investors based in the EU, the cancellation provisions in the Financial Services (Distance Marketing) Regulations 2004 may apply where the agreement to purchase shares or shares has been carried out by way of distance selling.

Complaints

If you wish to complain about any aspect of the service you have received, or any aspect of this site, please contact us at:

Compliance Officer
T. Bailey Asset Management Limited
64 St. James's Street
Nottingham
NG1 6FJ

For non-UK investors, compensation under the Financial Services Compensation Scheme may be available if you qualify as an "eligible complainant" under the Compensation rules of the Financial Services Authority.

Anti-Money Laundering Requirements

We are obliged under the Money Laundering Regulations to obtain independent documentary evidence of identity. Details of the procedures for the identification of investors are contained in the relevant application form. If you have any questions about the information required please consult your independent financial adviser.

Unit Trusts

The T. Bailey unit trusts are collective investment schemes authorised by the Financial Services Authority. Before making any investment in the unit trusts, you should ensure that you read the relevant Simplified Prospectus and, if appropriate, the ISA Terms and Conditions. These are all available on this site, or by contacting T. Bailey Asset Management Limited, 64 St. James's Street, Nottingham, NG1 6FJ.

Individual Savings Accounts (ISAs)

With effect from 6 April 2008, all Personal Equity Plans (PEPs) were automatically reclassified as Individual Savings Accounts (ISA). In addition to this Mini Cash ISAs became Cash ISAs and Maxi ISAs containing only stocks and shares became Stocks and Shares ISAs. Maxi ISAs containing both cash and stocks and shares were separated into a Cash ISA and a Stocks and Shares ISA, although T. Bailey only offers Stocks and Shares ISAs.

Tax free means free of income tax and capital gains tax. ISAs are subject to government legislation and as such their tax benefits may be changed in the future.

The value of current tax relief depends on individual circumstances. If you have doubts about your tax position, you should seek professional advice.

E-mail

Messages that you send to us by e-mail may not be secure. We recommend that you do not send any confidential information to us by e-mail. If you choose to send any confidential information to us via e-mail you do so at your own risk with the knowledge that a third party could intercept this information. You will be responsible for ensuring that any electronic message or information you send to us is free from any virus or defect that may harm our systems in any way.

Legal Information / Notice

This website contains material which is owned by or licensed to us. This material includes, but is not limited to, the design, layout, look, appearance and graphics. Reproduction is prohibited other than with the prior written permission of T. Bailey.  All trademarks reproduced in this website, which are not the property of, or licensed to the operator, are acknowledged on the website.

Your use of this website and any dispute arising out of such use of the website is subject to the laws of England and Wales.

Telephone calls may be recorded for monitoring and training purposes.

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