Terms of use

TERMS OF USE – last updated August 2011
Aviva Investors Global Services Limited, registered in England No. 1151805. Registered Office: St. Helen’s, 1 Undershaft, London EC3P 3DQ. Authorised and regulated in the UK by the Financial Services Authority and a member of the Investment Management Association. VAT No: 105 4373 00Contact us at Aviva Investors Global Services Limited,St. Helen’s, 1 Undershaft, London EC3P 3DQ.Aviva Investors Global Services Limited (AIGSL) is the appointed investment manager and operator of the Encore+ fund (the “Fund”). The Fund is a fonds commun de placement established pursuant to Part II of the Luxembourg law of 20 December 2002 on undertakings for collective investment, as amended. The Fund is subject to the supervision of the Luxembourg supervisory authority (Commission de Surveillance du Secteur Financier). The Fund constitutes an unregulated collective investment scheme for the purposes of the Financial Services and Markets Act 2000 (the "Act"). Units of the Fund are reserved to Institutional Investors and Well-Informed investors (as defined in the Prospectus of the Fund) who are aware of the risks attaching to an investment in a fund investing in direct or indirect interests in real estate and accept that they will have recourse only to the Fund’s assets as these will exist at any time. Information presented in this website regarding the Fund is therefore intended only for Institutional Investors and Well-Informed investors (as defined in the prospectus of the Fund) to whom the Fund can be promoted under the Act and in accordance with restrictions on marketing the Fund in other jurisdictions. Any person who views this website should inform themselves about, and observe, any such restrictions. As the Fund is subject to Luxembourg laws and regulations and an unregulated collective investment scheme for the purpose of the Act all or most of the protections provided by the UK regulatory system do not apply and compensation under the Financial Services Compensation Scheme will not be available. Information presented in this website regarding the Fund should not be regarded as constituting an offer to invest.
Terms and Conditions of Use
This website, http://www.encoreplus.eu/ (the "Website") is intended to provide generic information regarding the Fund. This Website is owned and maintained by AIGSL. By using the Website you agree to the following Terms and Conditions of Use.If you do not accept these Terms and Conditions of Use and do not intend to be bound by them you must not use the Website and should exit it immediately.
Intended Audience
The content of this Website is intended as a source of information for investment professionals unless specifically indicated otherwise. Specifically it is not intended for use by retail investors. Information from this Website must not be issued in any jurisdiction where prohibited by law and must not be used in any way that would be contrary to local law or regulation. Specifically, the products and services mentioned on this Website must not be promoted in any jurisdiction where this would not be permitted.If you are not an investment professional or Well-Informed Investor, or are not authorised by local law/regulation to view information in this Website, you must not use the Website and should exit it immediately.
In particular, but without limitation, the products and services mentioned on this Website are not being promoted in the United States or to US persons.
Copyright and Reproduction Notice
Except as otherwise indicated, AIGSL is the owner of the copyright in all of the information featured on the Website, and of all related intellectual property rights, including, but not limited to design, database rights, trademarks, registered trademarks, service marks and logos.Reproduction of any part of this Website is only permitted with the prior written permission of AIGSL or in accordance with the express authority given in this Website.© Aviva Investors Global Services Limted 2011. All rights reserved.
Intellectual Property Rights
The Website contains AIGSL’s trademarks and logos which must not be downloaded nor used for any purpose whatsoever. If you require use of AIGSL’s trademarks and logos in connection with the marketing and promotion of projects in which AIGSL is involved, please contact graphics.uk@avivainvestors.com
Under no circumstances must the trademarks or logos be used in connection with any defamatory, illegal or illicit materials or projects or otherwise in any way that may cause any damage to the reputation or goodwill of AIGSL. In each circumstance where the AIGSL trademarks or logos are used, such use must be accompanied with a statement that the trademarks or logos, as applicable, are the property of AIGSL together with any appropriate symbol TM or ®. AIGSL may at any time impose additional conditions for the downloading and use of its trademarks and logos. For the avoidance of doubt, under no circumstances shall any user acquire any interest in the intellectual property rights in AIGSL’s trademarks or logos and no rights are granted to use any third party trademarks or logos which appear on the Website.
You must not, nor must you allow any other person to reproduce, publish, transmit, circulate, distribute, copy, alter, add to, delete, remove or tamper with the Website or any part of it including the logo, directly or indirectly disrupt or interfere (or attempt to disrupt or interfere) with or alter the Website including the logo, other than in the course of viewing or using it in accordance with these Terms and Conditions of Use.

Changes

Any aspect of the Website, including the information contained herein may be altered, deleted, adapted or in any other way amended at any time and without notice by AIGSL. These Terms and Conditions of Use may change from time to time and those changes will be posted on the Website for your information. You are advised to review this page on a regular basis.If you continue to use the Website after any such amendments have been made, you will be deemed to have accepted those amendments and will accordingly be bound by them.
Links
This Website may contain links to other websites, including third party websites. These links are provided for your convenience only. AIGSL has no control over, does not endorse nor is in any way responsible for the content of such third party websites.
If you wish to provide a link to this Website you must seek the prior written approval of AIGSL. Please contact online.marketing@avivainvestors.com in the Marketing Department at AIGSL.
Website not an Offer or Solicitation
The contents of the Website, including any document or narrative does not constitute an offer or solicitation to sell services or units in or shares in any of the funds managed by AIGSL or any other Aviva plc company and is by way of information only.Any offering of units in the Fund will only be made pursuant to a Prospectus for the Fund which will contain material information not contained herein, including regarding investment risks and conflicts of interest, which should be carefully reviewed. Any investment decision regarding the Fund should be made solely upon the information contained in the Prospectus and in the Management Regulations of the Fund, along with the latest Annual Report and Quarterly Fact Sheet of the Fund. Units in the Fund are not registered under the US Securities Act of 1933 and are not available for investment in the United States or by US persons.
IMPORTANT INFORMATION: UK: This Website is distributed by Aviva Investors Global Services Limited. This Website is not available for general distribution in, from or into the United Kingdom because the Fund is an unregulated collective investment scheme whose promotion is restricted by sections 238 and 240 of the Financial Services and Markets Act 2000. When distributed in, from or into the United Kingdom, this Website is only intended for persons having professional experience of investing in unregulated schemes, high net worth companies, partnerships, associations or trusts and personnel of any of the foregoing having professional experience of investing in unregulated schemes (each within the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001), persons outside the European Economic Area receiving it electronically, persons outside the United Kingdom receiving it non-electronically and any other persons to whom it may be communicated lawfully. No other person should act or rely on it. Other persons distributing this Website in, from or into the United Kingdom must satisfy themselves that it is lawful to do so.
IMPORTANT INFORMATION: AUSTRIA: The units may only be offered in the Republic of Austria in compliance with the provisions of the Austrian Capital Market Act and the Austrian Investment Funds Act and any other laws applicable in the Republic of Austria governing the offer and sale of the Fund in the Republic of Austria. The units are not registered or otherwise authorised for public offer under the Capital Market Act or the Investment Funds Act or any other relevant securities legislation in Austria. The viewers of this Website and other selling material in respect to the units have been individually selected and are targeted exclusively on the basis of a private placement. Accordingly, the units may not be, and are not being, offered or advertised publicly or offered similarly under either the Capital Market Act or the Investment Funds Act or any other relevant securities legislation in Austria. This offer may not be made to any other persons than the recipients to whom this Website is personally addressed.
IMPORTANT INFORMATION: BELGIUM: The Fund has not been and will not be registered with the Belgian Banking, Finance and Insurance Commission (Commission bancaire, financière et des assurances / Commissie voor het Bank-, Financie- en assurantiewezen) as a foreign collective investment undertaking under Article 127 of the Belgian Law of 20 July 2004 on certain forms of collective management of investment portfolios. The offer in Belgium has not been and will not be notified to the Belgian Banking, Finance and Insurance Commission, nor has this Website been nor will it be approved by the Belgian Banking, Finance and Insurance Commission.The units issued by the Fund shall, whether directly or indirectly, only be offered, sold, transferred or delivered in Belgium to legal entities who are "Institutional or Professional Investors” in the sense of Article 53 of the Belgian Law of 20 July 2004 on certain forms of collective management of investment portfolios (as amended from time to time), acting for their own account. This Website has been issued for your personal use only and exclusively for the purposes of this offer. Accordingly, this Website may not be used for any other purpose nor passed on to any other person in Belgium.
IMPORTANT NOTICE: FINLAND: The units offered in this Website are offered in Finland on a private placement basis only. The units may be offered in Finland only in circumstances which do not require the publication of a prospectus under Finnish law. This Website has neither been filed with nor approved by the Finnish Financial Supervisory Authority and it does not constitute a prospectus under the Finnish Securities Market Act (495/1989, as amended), the Prospectus Directive (2003/71/EC) or the Finnish Investment Funds Act (48/1999, as amended).
IMPORTANT NOTICE: GERMANY: The units offered pursuant to the prospectus are neither registered for public distribution with the German Federal Financial Supervisory Authority (“Bundesanstalt für Finanzdienstleistungsaufsicht” – “BaFin”) according to the German Investment Act (“Investmentgesetz”) nor listed on a German exchange. No prospectus pursuant to the German Securities Prospectus Act (“Wertpapierprospektgesetz”) or German Sales Prospectus Act (“Verkaufsprospektgesetz”) has been filed with BaFin. Consequently, the units must not be distributed within Germany by way of public offer, public advertisement or in any similar manner, and this Website and any other document relating to the units, as well as information or statements contained therein, may not be supplied to the public in Germany or used in connection with any offer for subscription of the units to the public in Germany or any other means of public marketing.
Any resale of the units in Germany may only be made in accordance with any laws applicable in Germany governing the sale and offering of units. No view on taxation is expressed. Prospective investors in Germany are urged to consult their own tax advisers as to the tax consequences that may arise from an investment in the units.
IMPORTANT NOTICE: IRELAND: This Website and the information contained herein are private and confidential and are for use only by the persons to whom such material is addressed. No person receiving a copy of this Website may treat it as constituting an invitation to them to subscribe for units or a solicitation to anyone other than the addressee. This Website does not constitute an offer or invitation to the public or the provision of facilities for participation by the public in Ireland. This Website may not be distributed and the units may not be offered or sold otherwise in circumstances which do not require the publication of a prospectus pursuant to article 3(2) of the Directive 2003/71/EC and will not be offered or sold otherwise than in a conformity with the provisions of the European Communities (Markets in Financial Instruments) Regulations 2007 (as amended).This Website does not constitute or form part of any offer or invitation to the public or constitute the provision of facilities for participation by the public in Ireland.
IMPORTANT NOTICE: NETHERLANDS: Units will not be offered or sold, directly or indirectly, in the Netherlands, other than:(i) with a minimum denomination of € 50,000 or the equivalent amount in another currency per investor;(ii) for a minimum consideration of € 50,000 per class of units or the equivalent in another currency per investor;(iii) solely to qualified investors; or(iv) to fewer than 100 individuals or legal entities other than qualified investors all within the meaning of article 1:12 of the Netherlands Financial Supervision Act (Wet op het financieel toezicht) and article 4 of the Financial Supervision Act Exemption Regulation (Vrijstellingsregeling Wet op het financieel toezicht).If the units will be offered or sold in reliance on the exemptions referred to in (i) or (ii) above, the following additional requirements apply:(a) the first drawdown amount per investor must be at least € 50,000 or the equivalent in another currency (exclusive of any costs), payable as a lump sum;(b) any subsequent drawdown may be in an amount less than € 50,000 or the equivalent in another currency;(c) the amount invested by each investor may never be less than € 50,000 or the equivalent in another currency (exclusive of a decrease of the value of the amount invested), all in accordance with the interpretation of the Netherlands Authority of the Financial Markets (Stichting Autoriteit Financiële Markten) dated 11 June 2008 on the denomination and package exceptions/exemptions (Coupure en pakket uitzonderingen/vrijstellingen aanbieden effecten aan het publiek en aanbieden deelnemingsrechten in beleggingsinstellingen).In respect of the offer, the Fund is not required to obtain a license as a collective investment scheme pursuant to the Netherlands Financial Supervision Act (Wet op het financieel toezicht) and is not subject to market conduct supervision of the Netherlands Authority for the Financial Markets and prudential supervision of the Dutch Central Bank (De Nederlandsche Bank N.V.).
IMPORTANT NOTICE: LUXEMBOURG: While the fund is registered in Luxembourg, the eligibility criteria in the prospectus must still be complied with. Offering of units is restricted to Well-Informed Investors and Institutional Investors as defined in the prospectus.
IMPORTANT NOTICE: PORTUGAL: No offer or sale of units may be made in Portugal except under circumstances that will result in compliance with the rules concerning marketing of such units and with the laws of Portugal generally.No authorisation/notification has been made nor has been requested from the Securities Market Commission (“Comissão de Mercado de Valores Mobilários”) for the marketing of the units referred to in this Website, therefore the same cannot be offered to the public in Portugal.Accordingly, no units have been or may be offered or sold to unidentified addressees or to 100 or more addressees who are not qualified investors and no Offer has been preceded or followed by promotion or solicitation to unidentified investors, public advertisement, publication of any promotional material or in any similar manner.In particular, this Website and the offer of the units is only intended for qualified Investors acting as final investors. Qualified Investors within the meaning of the Securities Code (“Código dos Valores Mobilários”) includes credit institutions, investment firms, insurance companies, collective investment institutions and their respective managing companies, pension funds and their respective pension fund-managing companies, other authorised or regulated financial institutions, notably securitisation funds and their respective management companies and all other financial companies, securitisation companies, venture capital companies, venture capital funds and their respective management companies, financial institutions incorporated in a state that is not a member state of the EU that carry out activities similar to those previously mentioned, entities trading in financial instruments related to commodities and regional and national governments, central banks and public bodies that manage debt, supranational or international institutions, namely the European Central Bank, the European Investment Bank, the International Monetary Fund and the World Bank, as well as entities whose corporate purpose is solely to invest in securities and any legal entity which has two or more of (1) an average of at least 250 employees during the last financial year; (2) a total balance sheet of more than € 43,000,000 and (3) an annual net turnover of more than € 50,000,000, all as shown in its last annual or consolidated accounts. It also includes high net worth individuals who request to be qualified as such, in case they comply with certain requirements and subsequently to registration with the CMVM.
IMPORTANT NOTICE: SWEDEN: The Fund is not authorised under the Swedish Investment Funds Act. The units of the Fund are being offered to a limited number of institutional investors and this Website has not been, and will not be, registered with the Swedish Financial Supervisory Authority under the Swedish Financial Instruments Trading Act (1991:980). Accordingly, this Website may not be made available, nor may the units otherwise be marketed and offered for sale in Sweden, other than in circumstances which are deemed not to be an offer to the public in Sweden under the Financial Instruments Trading Act.The Fund is not an Investment Fund (fondföretag) for the purpose of the Swedish Investment Funds Act (lag (2004:46) om investeringsfonder) and has therefore not been, nor will it be, approved or registered by the Swedish Financial Supervisory Authority pursuant to the Swedish Investment Funds Act.The Fund is not an Investment Fund (fondföretag) for the purpose of the Swedish Investment Funds Act (lag (2004:46) om investeringsfonder) and has therefore not been, nor will it be, approved or registered by the Swedish Financial Supervisory Authority pursuant to the Swedish Investment Funds Act.
IMPORTANT NOTICE: SWITZERLAND: The Fund has not been approved by the Swiss Financial Market Supervisory Authority as a foreign collective investment scheme pursuant to article 120 of the Swiss Collective Investment Scheme Act of 23 June 2006 (the “CISA”). Accordingly the units may not be publicly offered in or from Switzerland and neither the prospectus nor any other offering materials relating to the units may be made available through a public offering in or from Switzerland. The units may only be offered and the prospectus may only be distributed in or from Switzerland to Qualified Investors (as defined in the CISA and its implementing ordinances).
Money Laundering Regulations
In order to satisfy the requirements of the Money Laundering regulations, additional documentation confirming identification will be required if you make an investment.
Advice and Recommendations
The information on the Website does not in any way constitute investment, tax, legal or any other form of advice. Where stock names are mentioned, it should not be construed that these are recommendations to buy or sell those stocks.If you require investment advice please contact an authorised investment adviser.
Limitation of Liability and Disclaimer
AIGSL provides this website on an "as is" basis and to the fullest extent permitted by law makes no, and expressly excludes, all representations (except for fraudulent misrepresentation) and warranties of any kind with respect to the Website and its contents including, without limitation, warranties as to quality and fitness for purpose. AIGSL does not represent or warrant that the information accessible via the Website is accurate, complete or current nor that the Website will meet any particular requirements, be available, accessible, uninterrupted, timely, secure, operate without error or that it will be free from viruses or other harmful elements.Except as specifically stated on the Website, to the fullest extent permitted at law, neither AIGSL nor any of its affiliates, directors, employees or other representatives, will be liable (whether under contract, tort, statute or otherwise howsoever arising) for any damages, losses, costs, claims, liabilities or expenses arising out of or in connection with the use of the Website. This limitation of liability shall apply to all damages, losses, costs, claims, liabilities and expenses of any kind, whether direct or indirect and consequential, including (but without limitation) legal costs or expenses, loss of profits, loss of anticipated savings, loss of data, loss of revenue, loss of business, loss of use of money, loss of opportunity, loss of or damage to property and/or any wasted expenditure and any third party claims.Please remember that:

  • past performance is not a guide to future performance;
  • the value of investments and the income from them may go down as well as up and investors may not get back the amount invested;
  • rates of currency exchange may cause the value of investments to go up or down.

General
If for any reason any part of these Terms and Conditions of Use is deemed to be unenforceable, then the validity of the remaining part shall not be affected. Any waiver by AIGSL of a breach of any provision of these Terms and Conditions of Use shall not be deemed to be a wavier of any subsequent breach of any provision. All disclaimers, terms and conditions as set out in the Website shall form part of the Terms and Conditions of Use of the Website.Please also refer to our Privacy Policy.

Receipt of e-mail
Please note there is no guarantee that any e-mail sent to us will be received or that the contents of the e-mail will remain confidential during internet transmission.

Law and Jurisdiction
These Terms and Conditions of Use and your use of the Website shall be governed by and construed in accordance with English law. By using this website you accept that any dispute under these Terms and Conditions of Use or arising out of use of this website shall be subject to the exclusive jurisdiction of the English courts to which you submit. You are responsible for compliance with any applicable laws of the country from which you are accessing the Website.