Important Information

Please read this page before proceeding, as it explains certain legal and regulatory restrictions applicable to the distribution of this information. It is your responsibility to inform yourselves of and to observe all applicable laws and regulations of the relevant jurisdiction.

The value of investments and the income from them may go down as well as up and you may not recoup your original investment. Past performance should not be seen as an indication of future performance. Past performance information contained on this site may not be current and you should refer to the relevant offer document for up-to-date past performance information. Rates of exchange may cause the value of investments to go up or down.

The information contained on this site (including research) is directed at UK investors only. It does not constitute a distribution, an offer to sell or the solicitation of an offer to buy any securities or products in any jurisdiction in which such an offer or invitation is not authorised and/or would be contrary to local law or regulation or in which a member of the Rathbones Group is not authorised to do so.

The information contained on this site is believed to be accurate at the date of publication, but no warranty of accuracy is given and the information is subject to change without notice. Any opinions or estimates included herein constitute a judgement as of the date of publication and are subject to change without notice. Furthermore, no responsibility is accepted for the accuracy of any information contained within sites provided by third parties that may have links to or from our pages.

Not all services and investments described are authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority, under the Financial Services and Markets Act 2000 and the Financial Services Act 2012. Applications to invest in any product or service referred to on this site must only be made on the basis of the offer document relating to the specific investment.

Persons acting on behalf of companies within the Rathbones Group who do not carry out investment business in the UK are not subject to the provisions of the UK Financial Services and Markets Act 2000 and the Financial Services Act 2012. Accordingly, investors entering into investment agreements with such companies will not have the protections afforded by these Acts or the rules and regulations made under it including the UK Financial Services Compensation Scheme.

Read more about the Financial Services Compensation Scheme. Custody of client assets and cash by Rathbones Investment Management Limited.

This information contained on this site is currently being made available free of charge. A charge for the service may be made at a later date by notice to the website. By proceeding you agree to the exclusion of any liability in respect of any errors or omissions contained in it. No liability is accepted by any person within the Rathbones Group whether in the UK or overseas, for any losses or damage arising from the use or reliance on the information contained herein including, without limitation, any loss of profit, or any other damage direct or consequential.

The levels and bases of, and reliefs from, taxation may change in the future. Specifically, the current tax treatment of Venture Capital Trusts (VCT), Enterprise Investment Schemes (EIS), Individual Savings Accounts (ISA)and Self-invested Personal Pensions (SIPP)may change under future legislation.

Any of the Rathbones Group companies, affiliates, their directors, representatives and employees may or may not have positions in any securities mentioned herein. You should note that in respect of some designated investments referred to on this site, one or more entities in the Rathbones Group (1) may have a position or holding in the investment concerned or in a related investment; or (2) may have a material interest in any investment concerned; or (3) may be providing, or may have provided within the previous 12 months, significant advice or investment services in relation to the investment concerned or a related investment.

The information contained on this site may refer to securities which use or may use gearing. Gearing is the ratio of a company's debt to equity. It indicates the extent to which a company's operations are funded by lenders in comparison with the shareholders. For such securities which (a) are either listed in the UK under the listing rules LR15 or issued by an investment trust and listed in an EEA state other than the UK; and (b) are issued by an issuer that either uses or proposes to use gearing as an investment strategy or invests or proposes to invest in securities where the issuer of such securities uses or proposes to use gearing as an investment strategy; and (c) are likely to be subject to fluctuations in value which are significant compared with the likely fluctuations in value of the underlying investments, you should be aware that the strategy which the issuer of such securities uses or proposes to use may result in (1) movements in the price of the securities being more volatile than the movements in the price of underlying investments; (2) the investment being subject to sudden and large falls in value; and (3) you getting back nothing at all if there is a sufficiently large fall in value in the investment, you should be aware of the following in relation to structured capital at risk products; (a) the return of initial capital invested at the end of the investment period is not guaranteed and you may therefore get back less than what was originally invested; (b) the amount of initial capital repaid may be geared, which means that a small percentage fall in a larger reduction in the amount that is paid out; (c) any maximum benefit being advertised may only be available after a set period; (d) redeeming a product early may result in redemption penalties and a poor return; (e) the initial capital invested may be placed into high risk investments, such as non-investment grade bonds; (f) the rate of income or growth advertised may depend on specific conditions being met; (g) you should not enter into the transaction unless you are prepared to lose some or all of the money to be invested; (h) if you are unsure whether a structured capital at risk product is suitable for you, in light of your circumstances and financial position, you should seek professional advice.

The investments or investment services referred to in this website may not be suitable for all investors. Where not providing financial advice under Rathbones Financial Planning, we accept no responsibility for the assessment of the suitability, affordability or tax efficiency of our services for your particular circumstances. Therefore, if you are in doubt about the information contained herein please consult your stockbroker, solicitor, accountant, bank manager, tax or other professional adviser.

Any personal information you may provide to us in response to this site may be retained to fulfil our legal and regulatory requirements, and to provide you with the products and/or services you have requested. Please read the Rathbones privacy notice for further information on how Rathbones may use your personal data, which can be found by visiting

Certain investment services carry a right of cancellation or withdrawal within up to 30 days under regulatory rules. Upon cancellation you may not recover your investment in full, if the investment has fallen since the investment was acquired. In some cases, including the arrangement of ISAs under certain conditions, we will not open your account, apply funds or make investments until such time as the cancellation or withdrawal period has elapsed. Please refer to your terms of business for full detail.

In order to comply with money laundering and other regulations, additional documentation for identification purposes will be required by law should you wish to make an investment. We reserve the right in our absolute discretion to decline the provision of any services to you in the event that you fail to provide such documentation.

Rathbones Group shall have no liability for any data transmission errors such as data loss, damage or alteration of any kind including, but not limited to, any direct, indirect or consequential damage arising out of the use of services provided or referred to in this website.

Dealing and best execution policy

Rathbones Investment Management Limited (Rathbones) has a regulatory and fiduciary obligation to ensure that its dealing policies are transparent and fair for all clients. Rathbones takes these responsibilities very seriously as part of its commitment to execute transactions effectively and competitively as part of its wider investment management mandates.

Read more about Rathbones dealing and best execution.

Regulatory disclaimers

Rathbones, Greenbank and Greenbank Investments are trading names of Rathbones Investment Management Limited, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered office: Port of Liverpool Building, Pier Head, Liverpool, L3 1NW, Registered in England No. 01448919. In accordance with regulations,  all electronic communications and telephone calls between Rathbones and its clients are recorded and stored for a minimum period of six months.

Provision of trust, tax and company administration services are provided by Rathbones Trust Company Limited (RTC). Provision of legal services is provided by Rathbones Legal Services Limited (RLS), a wholly owned subsidiary of Rathbones Trust Company Limited (‘RTC’). RLS is authorised and regulated solely by the Solicitors Regulation Authority. RTC and RLS are registered in England under company numbers 01688454 and 10514352 respectively.

Rathbones Investment Management International Limited is regulated by the Jersey Financial Services Commission. Rathbones Investment Management International Limited is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority in the UK.

Rathbones Asset Management Limited is authorised and regulated by the Financial Conduct Authority. Registered Office 30 Gresham Street, London, EC2V 7QN. Registered in England No 02376568.

Rathbones Asset Management 

Rathbones Asset Management Limited does not offer investment advice. If you have any doubt whether these products are suitable for you and you wish to obtain personal advice, please contact an independent financial adviser.

Before investing you should read the simplified prospectus which contains important information regarding Rathbones Asset Management Limited funds, including charges, tax and fund specific risk warnings.

The information provided in this site is directed at UK investors only. It does not constitute an offer to sell, or solicit an offer to purchase any investments by anyone in any jurisdiction in which such offer or solicitation is not authorised or in which a member of the Rathbones Group is not authorised to do so.

In particular, the information herein is not for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities in France and the United States of America to or for the benefit of United States 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).

You should note:

Past performance should not be seen as an indication of future performance.

The value of investments and the income from them can fall as well as rise and you may not get back the amount originally invested, particularly if you do not continue with the investment over the longer term.

Rathbones Financial Planning

Rathbones Financial Planning is a financial planning intermediary which advises on a full range of financial planning and protection products. Advice may include products, services schemes of investment or structures whose primary aim is tax efficiency, but would not be your tax adviser, and will only provide advice based on the information provided by you. It is your responsibility to seek specialist tax advice where appropriate to support this advisory process.

Tax regimes in the UK and elsewhere are subject to change at governmental level without notice. Where reliefs change, this may affect the arrangements entered into by you following advice, and you should consider the risk of such changes when accepting recommendations.

Information provided on this website and in associated material such as e-bulletins and newsletters by Rathbones Financial Planning is for information only and should not be regarded as a solicitation or invitation of any kind to invest or enter into any product or service described. Any reference to the products or services of any firm, including those of Rathbones Financial Planning should not be regarded as direct offer marketing material and in the event that you wish to enquire further about such services, you should contact a Rathbones Financial Planning adviser.