Terms of use This page contains important legal information – please read carefully before proceeding further. The information below explains the legal and regulatory restrictions in relation to the information contained on this website and the countries in which the investment funds described are authorised. Use & Acceptance: This website (the “Site”), and any tools and/or services offered and/or provided by BNY Mellon through this Site and other internet channels (collectively, the “Services”), are offered to you conditioned upon your acceptance without modification of these Terms of Use. “BNY Mellon” / “we”/ “us” means, in these Terms of Use, The Bank of New York Mellon Corporation and/or its direct and indirect subsidiaries from time to time. By using this Site or any Services, you agree to these Terms of Use. Please read these Terms of Use carefully. If you do not agree to these Terms of Use, you may not use this Site or any Services offered or provided through this Site. These Terms of Use are a legal document setting out your rights and obligations and those of BNY Mellon Investment Management EMEA Limited, BNY Mellon Investments Switzerland GmbH in Switzerland and other BNY Mellon entities in relation to the services offered by BNY Mellon through this Site. These Terms of Use contain the full and complete understanding between BNY Mellon and you relating to the use of this Site. No advice or information, whether oral or written, obtained by you through or from the Site (other than these Terms of Use) or from any conversation with BNY Mellon, its staff or a professional financial adviser will operate to vary these Terms of Use. By accessing the Site you are agreeing to receive information and documentation in the languages in which they are provided on the Site. This Site is comprised of various websites operated by BNY Mellon. Certain sections of or pages on this Site may contain separate terms and conditions, which are in addition to these Terms of Use. You should read those additional terms and conditions carefully. By accessing such sections or pages, you agree to be bound by those additional terms and conditions. In the event of a conflict, those additional terms and conditions will govern your use of those sections or pages. Modification We may change these Terms of Use from time to time by posting changes on the Site without notice to you. You should review these Terms of Use each time you use this Site or a Service to make sure you agree to them. By using this Site or Services or engaging in any of the activities described in these Terms of Use after changes have been made to these Terms of Use, you are agreeing to accept and comply with those changes. Jurisdiction and Governing Law These Terms of Use and any and all contracts concluded under them (and any related non-contractual matters) are governed by and shall be construed in accordance with the laws of England and Wales and all references in these Terms to laws and regulations are references to English laws and regulations unless otherwise specified. You agree that any dispute/s arising out of the Terms of Use or otherwise between us shall be subject to the exclusive jurisdiction of the Courts of England and Wales. Content of Site Whilst care has been taken to ensure the information contained within this Site is accurate and up-to-date, no warranty is given as to the accuracy or completeness of any information and no liability is accepted for any errors or omissions in such information. All products referred to on this Site are subject to change without notice. BNY Mellon reserves the right, in its sole discretion, without any obligation and without any notice requirement to amend the Site and/or change or discontinue any products and services described in or offered on this Site at any time and/or suspend and/or deny access to this Site for scheduled or unscheduled maintenance, upgrades, improvements or corrections. You agree that BNY Mellon shall not be liable to you or to any third party for any amendment, modification, suspension, or discontinuance of the Site or any products or services offered through the Site. The Site and its contents are not an offer or solicitation and should not be construed as such. Nothing contained on this Site constitutes investment, legal, tax, financial or other professional advice on any matter. Any potential investors seeking to invest should only do so after taking professional investment advice and reading the relevant investment documentation. Certain funds may not be available in all jurisdictions. Information contained on the Site is not intended for distribution to, or use by, any person or entity in any jurisdiction in which such distribution or use would be contrary to local law or regulation. Any views and opinions are those of the investment manager/interviewee/author etc., unless otherwise noted. Nothing herein constitutes investment research or a research recommendation for regulatory purposes. Linking We do not endorse and accept no responsibility for the content of any website not operated by BNY Mellon which you may visit by following a link from this Site or any part of the Services. BNY Mellon accepts no responsibility for any information contained in any third party website accessed via a hypertext link from this Site. No other person/company may link their website to this Site or any part of the Services without the express written permission of BNY Mellon. The content, accuracy and opinions expressed in such third party websites are not checked, analysed, monitored or endorsed by BNY Mellon. Access to any third party website is at your own risk and are provided only as a convenience. You agree that BNY Mellon has no responsibility or liability for any third party website and that BNY Mellon shall not be liable in any way for any damage or loss caused in relation to the content, goods, products or services available through or mentioned in such third party website. You should also be aware that the terms and conditions of such website and the website’s privacy policy may be different from those applicable to your use of this Site. Product availability The information contained on this Site, does not constitute a distribution, an offer to sell or the solicitation of an offer to buy in any jurisdiction in which such distribution, offer or solicitation is not authorised. Some products detailed on this Site are only available to persons in certain named countries. If you are accessing this Site outside the UK, you must only access this Site where permitted under the applicable local laws and your local legislation may not permit us to offer products to you in your own country. Please check with your professional financial adviser as to whether such products are available in the country in which you are resident. Where additional services are made available to you through this Site, these may be provided subject to their own specific terms and conditions. You will be required to read and understand any such additional terms and conditions and agree to be bound by them in all respects. Investment risks Individuals and other investors considering making an investment should consult their professional financial adviser. An investor seeking to invest in any product appearing on this Site should only do so after reading the relevant documentation which can include but is not limited to the latest annual report and accounts, the Key Investor Information Document, the prospectus and any supplements or addenda or other prevailing terms and conditions. You should always bear in mind that: The investment performance of any fund or investment referred to on this Site can be volatile and can go up or down and you can lose your entire investment. Past performance is not an indication of future performance. Rates of exchange may affect the value of investments. An application for any of BNY Mellon’s funds should be made having read fully the relevant application form, and where relevant the Key Investor Information Document (KIID), the Supplementary Information Document, the Terms & Conditions and the Prospectus. The Prospectus and KIID are available in English and in an official language of the jurisdictions in which the relevant fund is registered for public sale. Money Market Funds. Please note that an investment in a money market fund is not a guaranteed investment; it is different to an investment in deposits as the principal invested is capable of fluctuation. A money market fund does not rely on external support for guaranteeing its ability to sell its assets and/or meet redemptions (liquidity) or stabilising the fund’s price per unit/share (Net Asset Value). There is a risk of loss of the principal invested, which is borne by the investor. Advice BNY Mellon does not offer investment advice on the merits or suitability of its products and no information contained within this Site should be construed as such. No warranty is given in relation to any information or advice, whether oral or written, obtained from BNY Mellon through this Site or otherwise. BNY Mellon only provides information about its own products and services and does not give investment advice based on individual circumstances. BNY Mellon believes that it is important that any investments you make are suitable for your needs. Therefore we recommend that prior to making an investment into any of our products you consult with a professional financial adviser who will be able to consider your particular investment and help you to determine which is most appropriate for your circumstances. Taxation BNY Mellon does not provide tax advice. Except where stated otherwise, the contents of this Site are based on BNY Mellon’s interpretation of United Kingdom taxation law and practice as at the date appearing at the foot of each product fact sheet. While we believe this interpretation is correct as at the relevant date, we can give no guarantee that tax reliefs and the tax treatment of funds will remain the same in the future. The value of any tax reliefs will depend on individual financial circumstances and the country of residence of the relevant investor. If you are in any doubt, you are advised to consult your professional financial and tax advisers. Fund information, pricing and market data Nothing contained on this Site constitutes investment, legal, tax, financial or other professional advice on any matter nor is it to be relied on in making an investment or other decision. Information contained on the Site does not constitute a recommendation to buy, sell, or otherwise trade any investments which may be referred to. Any potential investors seeking to invest should only do so after taking professional investment advice and reading the relevant investment documentation including the prospectus, KIID and annual reports and accounts of the relevant fund(s) which provide a detailed description of the investment objectives, risks, charges, expenses and eligibility requirements of the fund(s). BNY Mellon and/or any of its affiliates are not responsible for any subsequent investment advice given based on the information contained on the Site. Certain funds may not be available in all jurisdictions. The Site and its contents are for general information and reference purposes only and are not an offer or solicitation and should not be construed as such. Information contained on the Site is not intended for distribution to, or use by, any person or entity in any jurisdiction in which such distribution or use would be contrary to local law or regulation. Any potential investors are required to inform themselves about, and to observe any, restrictions that apply in their jurisdiction. Any information on the Site or the Services relating to the price or performance of any fund or other investment is indicative only, may not be real-time and may not be accurate. The price of any fund or other investment may vary with market conditions and so any data (including any market data, valuations or price data) provided through the Services may be or become inaccurate or out-of-date. BNY Mellon and its licensors accept no liability for the provision of any market data, index data or reference data, including as to accuracy, completeness, availability of a given market, timeliness or otherwise. Past performance of a fund or other investment does not mean that future performance will be similar. The value of investments and the income from them is not guaranteed and can fall as well as rise due to market and currency movements. Investors may not get back the amount they invested. Information on the Site relating to portfolio holdings is subject to change, is for information only and does not constitute an investment recommendation. Liability To the extent permitted by law, BNY Mellon accepts no legal liability for loss, damages or expenses which you may suffer or incur directly or indirectly by you accessing this Site. BNY Mellon assumes no liability (direct or consequential or any form of liability) for any errors in, or reliance upon, the information contained on the Site. BNY Mellon and/or any of its affiliates are not responsible for any subsequent investment advice given based on the information contained on the Site. BNY Mellon reserves its right to restrict, suspend or terminate your use of this Site at any time in its absolute discretion. BNY Mellon will use all reasonable efforts to keep this Site operational at all times but BNY Mellon does not guarantee that the Site or that use of the Site will be free from fault, interruption or error, nor that the Site will be continuously accessible. Access to the Site may be interrupted or restricted at any time for routine or emergency maintenance or repairs or to introduce new facilities, products, functionality or services. The security and reliability of communications on the internet cannot be assured. BNY Mellon cannot be held responsible for any disruptions, insecurity, viruses and other risks associated with internet usage. BNY Mellon excludes all liability for direct, indirect, special, consequential or incidental losses from such matters even if BNY Mellon has been advised of this possibility. Downloading and copying You may download materials and information from the Site to a single personal computer and/or print a hard copy of any materials and information from the Site in order to help you decide whether to invest in any BNY Mellon product and/or to take advice from a professional adviser regarding any BNY Mellon product provided that you do not delete, change or modify in any way any copyright notices or disclaimers attaching to such materials and information. Except for this limited licence you may not copy, reproduce, re-publish, upload, post, transmit or distribute any material or information from this Site in any way. Doing so may constitute an infringement of BNY Mellon and/or a third party’s copyright and other intellectual property and/or may constitute an infringement of laws, rules or regulations applicable to the marketing or sale of securities. You may not download or copy material in breach of any applicable law, whether in the place where the download is made or in breach of any law prohibiting the export or use of technology or information, including any United Kingdom or European Union embargos or sanctions, U.S. Department of Treasury or U.S. Department of Commerce regulations, including to a resident of or location in any nation to which the U.S. or U.K. has embargoed goods. Intellectual property / copyright and trademarks All right, title and interest in this Site and any content contained on the Site is the exclusive property of BNY Mellon, except as otherwise stated. The copyright in this Site, the Services and their contents including all information, graphics, code, text and design are owned by BNY Mellon (unless otherwise indicated). All material on the site is Copyright © 2019 BNY Mellon. All rights are reserved by BNY Mellon. In the event of a professional financial adviser wishing to publish or distribute written marketing or other promotional material based upon the content of this Site, he/she may only do so having first obtained the prior written consent of BNY Mellon. BNY Mellon prohibits any website linking to, or framing of, this Site without its prior written permission. The Site contains trademarks, service marks and logos which belong to BNY Mellon. Unauthorised use of any BNY Mellon name and logo is strictly forbidden without the written permission of BNY Mellon. Severability In the event that any part of these Terms of Use is held by a court of competent jurisdiction to be invalid or unenforceable then the remainder of these Terms of Use shall remain valid and enforceable. If any part of these Terms of Use is found by a court of competent jurisdiction to be invalid, then you nevertheless agree that the court shall endeavour to give effect to BNY Mellon’s intentions as reflected in the Terms. Use of personal information and cookies We will only use your personal information as set out in our Privacy Policy. Our Cookie Policy also sets out information about the cookies used on our site. Social Media We use a number of unaffiliated social media sites, including Twitter, Facebook, YouTube and LinkedIn to share general product and service information, thought leadership material, news, events and career information. Such information is not advice and is not a recommendation or offer relating to any investment product. A list of these accounts can be found below. Social media pages are typically public and can show up in search engines like Google, Yahoo and Bing, at any future time, with no assurance that the information will be removed when out-of-date. Because our social media sites are public and anyone with an account can engage with us, we cannot be responsible for views expressed other than our own. We reserve the right to prohibit posting on our social media pages, as well as the right to delete or edit any posted content or material for any reason and without notice. Any posting on these pages is subject to our policies of usage, as we may change them from time to time. We prohibit postings about securities products, investment recommendations, investment product performance and client testimonials. In addition, we prohibit the posting of offensive, derogatory, inflammatory or illegal comments and statements. We reserve the right to block or remove objectionable content and users if possible, in our sole discretion and without notice. Any delay in removing or failure to remove an objectionable posting should not be deemed an endorsement or approval of the posting, and does not preclude us from taking other steps to address objectionable content, particularly where a social media website restricts us from removing content or blocking users. If a follower forwards our posts and ads comments, such comments are the view and responsibility of the follower, and we expressly disclaim any responsibility over such communication. These social media websites are established and hosted by third parties, and are governed by their separate website policies, including privacy policies and terms of usage. We are not responsible for their terms of use or privacy policies, or any other third party websites that may be linked to or by their pages. You use these sites at your own risk. Interacting with BNY Mellon on Social Media Sites Our social media sites are managed and monitored by BNY Mellon. We are actively watching what people are saying to and about BNY Mellon. However, because of the public nature of the platform, we cannot respond to or engage on all issues. Never disclose any financial or personal information on any social media site or other website. BNY Mellon will never ask you for your social security, national insurance or other national identification number, account information, passwords, PINs or other personally identifiable information via social media or email. We are not responsible for the privacy or security practices of the social media sites we utilize. Please review their policies. In addition, we do not endorse clicking on links posted by other social media users, as these links may pose risks to your computer or take you to inappropriate sites. If you are a BNY Mellon client with specific questions about an account or investment, please contact your relationship manager directly. If you have any concerns or complaints about our social media websites, you may submit them using our online form. Links to Third-Party Sites and Mentions We may occasionally mention a user, tweet, re-tweet or repost links to third-party sites when we think you may find that information useful. However, this does not constitute an endorsement of the individual, site, product or company. See also “Linking” above. Our Social Media Sites BNYMellon – http://www.twitter.com/bnymellon BNYMellon – http://www.facebook.com/bnymellon BNYMellon – http://www.youtube.com/bnymellon BNYMellon – http://www.linkedin.com/company/bny-mellon When accessing any third-party/external sites that may be linked above, you will leave the BNY Mellon Site. These sites are not controlled or endorsed by BNY Mellon, and BNY Mellon is not responsible for the contents, operation or security of these sites. Third Parties None of the index providers of the funds referred to on this Site nor their licensors make any warranty or representation whatsoever either as to the results obtained from use of the relevant indices and/or the figures at which such indices stand at any particular day or otherwise. None of the index providers shall be liable to any person for any errors or significant delays in the relevant indices nor shall be under any obligation to advise any person of any error or significant delay therein. Regulatory information Please note that calls to us may be recorded. For more information visit our Privacy Policy. Investment Managers are appointed by BNY Mellon Investment Management EMEA Limited (BNYMIM EMEA), BNY Mellon Fund Management (Luxembourg) S.A. (BNY MFML) or their affiliated fund operating companies to undertake portfolio management activities in relation to contracts for products and services entered into by clients with BNYM IM EMEA, BNY MFML or the BNY Mellon funds. BNY Mellon Investment Management EMEA Limited. Its registered address is BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Telephone: + 44 20 7163 4300. VAT number GB 577 7181 95. Registered in England No. 1118580. BNYM IM EMEA is authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, Stratford, London, E20 1J. BNYM IM EMEA is an indirect subsidiary of BNY Mellon Investment Management Europe Holdings Limited (IMEH). BNYM IM EMEA therefore forms an integral part of the IMEH consolidated Basel II Pillar 3 disclosure. A copy of this disclosure can be found on the Site using the following link: Basel II Pillar 3 Disclosures. BNY Mellon Fund Management (Luxembourg) S.A. Its registered address is 2-4 Rue Eugène Ruppert L-2453 Luxembourg. BNY MFML is regulated by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. BNY MFML is wholly owned by BNYM IM EMEA. BNY MFML is a public limited company (société anonyme) incorporated and existing under Luxembourg law under registration number B28166. BNY Mellon Investments Switzerland GmbH. Its registered address is Talacker 29, CH-8001, Zürich, Switzerland. BNY Mellon Investments Switzerland GmbH is authorised and regulated by the Swiss Financial Market Supervisory Authority (FINMA). BNY Mellon Global Funds, plc and BNY Mellon Liquidity Funds plc are open-ended investment companies with variable capital (ICVC) and with segregated liability between sub-funds. Incorporated with limited liability under the laws of Ireland and authorised by the Central Bank of Ireland as UCITS Funds. The Management Company is BNY Mellon Fund Management (Luxembourg) S.A. (BNY MFML) – see further detail above. BNY Mellon Investment Funds (BNY MIF), BNY Mellon Managed Funds I (BNY MMFI) and BNY Mellon Managed Funds II (BNY MMII) are open-ended investment companies with variable capital (ICVC) and with limited liability between sub-funds. Incorporated in England and Wales. Registered numbers are BNY MIF: IC27, BNYMMFI: IC000619 and BNYMMF11: IC000509. The Authorised Corporate Director (ACD) is BNY Mellon Fund Managers Limited (BNY MFM), incorporated in England and Wales: No. 1998251. Registered address: BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA. BNYMFM also acts as ISA Manager and Unit Trust Manager. BNY MFM is authorised and regulated by the Financial Conduct Authority. Absolute Insight Funds plc is an investment company with variable capital (ICVC). Registered in Ireland No. 431087. Authorised by the Central Bank of Ireland. The Investment Manager and Distributor is: Insight Investment Funds Management Limited (IIFM), BNY Mellon Centre, 160 Queen Victoria Street, London, EC4V 4LA. Registered in England No. 01835691. Authorised and regulated by the Financial Conduct Authority. Money Market Funds. An investment in a money market fund is not a guaranteed investment; it is different to an investment in deposits as the principal invested is capable of fluctuation. A money market fund does not rely on external support for guaranteeing its ability to sell its assets and/or meet redemptions (liquidity) or stabilising the fund’s price per unit/share (Net Asset Value). There is a risk of loss of the principal invested, which is borne by the investor. The Bank of New York Mellon Corporation holds 20% minority interest in Siguler Guff & Company LLC and certain related entities. BNY Mellon owns a majority of Mellon Investments Corporation and the remainder is owned by employees of the firm. BNY Mellon Cash Investment Strategies is a division of BNY Mellon Investment Adviser, Inc. AUM / OUM for the following firms may include assets managed by them as non-discretionary investment manager for, or by the individual firms’ officers as dual officers or employees of, The Bank of New York Mellon: – BNY Mellon Investment Adviser, Inc. and its BNY Mellon Cash Investment Strategies division – Newton Investment Management (North America) Limited (part of The Newton Group). Mellon Investments Corporation – AUM includes discretionary and non-discretionary assets, the notional value of overlay strategies, and assets managed by investment personnel acting in their capacity as officers of affiliated entities. Total AUM includes BNY Mellon Wealth Management and external data. Newton Investment Management – AUM outlined represents the aggregate AUM of the following affiliated companies: Newton Investment Management Limited and Newton Investment Management (North America) Limited and may include assets managed by Newton’s officers as dual officers or employees of The Bank of New York Mellon. Insight Investment– assets under management are represented by the value of cash securities and other economic exposure managed for clients. Notice to residents of France The Funds included on this Site have received an authorisation for marketing from the Autorité des Marchés Financiers (AMF). Before subscribing, please read the most recent Prospectus and latest financial reports. The KIID, Prospectus, articles and latest annual report related to the Funds are freely available upon request to the centralising agent of these Funds: BNP Paribas Securities Services, 3 rue d’Antin, 75002 Paris, tél: 00 33 1 42 98 10 00. BNY Mellon Fund Management (Luxembourg) S.A. is a public limited company (société anonyme) incorporated and existing under Luxembourg law under registration number B28166 and having its registered address at 2-4 Rue Eugène Ruppert L-2453 Luxembourg. BNY MFML is regulated by the Commission de Surveillance du Secteur Financier (CSSF) and its French branch is subject to limited supervision by the AMF and the French Autorité de Contrôle prudentiel et de résolution. BNY MFML has paid-up share capital as at 1 May 2019 of €22,200,000. Notice to residents of Austria The current Prospectus and the Key Investor Information Document of the Funds included on this Site are available free of charge from Raiffeisen Zentralbank Österreich Aktiengesellschaft, Am Stadtpark 9, A-1030 Vienna. Notice to residents of Belgium If you wish to address any complaint with regards to BNY Mellon Global Funds, plc, BNY Mellon Liquidity Funds, plc and/or our services, please contact investorservices@bnymellon.com. If you wish to address any complaint with regards to BNY Mellon Investment Funds plc and/or our services, please contact institutions@bnymellon.com.Alternatively you may wish to contact the UK Financial Ombudsman Service at complaint.info@financial-ombudsman.org.uk. Notice to residents of Germany This Site is for marketing purposes only. The current Prospectus of the Funds included on this Site is available from BNY Mellon Fund Management (Luxembourg) S.A., German branch, MesseTurm Friedrich-Ebert-Anlage 49, 60308 Frankfurt am Main, Germany. Notice to residents of Italy Before subscribing you should read the Prospectus and the Key Investor Information Documents for the relevant fund. Both of these documents are available, in Italian, on our Site www.bnymellonim.com. Notice to residents of Spain BNY Mellon Investment Funds plc is registered with the CNMV, Registration No.186, BNY Mellon Global Funds plc is registered with the CNMV, Registration No. 267, BNY Mellon Liquidity Funds plc is registered with the CNMV, Registration No. 748, Absolute Insight Funds plc is registered with the CNMV, Registration No. 1039. Notice to residents of Switzerland BNY Mellon Global Funds plc (“the Company”) is established as an open-ended umbrella type investment company under Irish law and the Sub-Funds are authorised by FINMA for distribution to non-qualified investors in or from Switzerland. The Swiss representative is Carnegie Fund Services S.A., 11, rue du Général-Dufour, 1204 Geneva. The Swiss paying agent is Banque Cantonale de Genève, 17, quai de l’Ile, 1204 Geneva. Investors in Switzerland can obtain the documents of the Company, such as the Prospectus, the KIIDs, the Memorandum and Articles of Association, the semi-annual and annual reports, each in their latest version as approved by FINMA, in German, and further information free of charge from the Swiss representative. BNY Mellon Investment Funds plc (“the Company”) is established as an open-ended investment company under the Laws of England and Wales and the Sub-Fund is authorised by FINMA for distribution to non-qualified investors in or from Switzerland. The Swiss representative is Carnegie Fund Services S.A., 11, rue du Général-Dufour, 1204 Geneva. The Swiss paying agent is Banque Cantonale de Genève, 17, quai de l’Ile, 1204 Geneva. Investors in Switzerland can obtain the documents of the Company, such as the Prospectus, the KIIDs, the Instruments of Incorporation, the semi-annual and annual reports, each in their latest version as approved by FINMA, in German, and further information free of charge from the Swiss representative. Absolute Insight Funds plc: the KIID, prospectus, articles and latest annual report are available free of charge from Carnegie Fund Services S.A.,11, rue du Général-Dufour, 1204 Geneva. The paying agent is Banque Cantonale de Genève, 17, quai de L’Ile, 1204 Geneva.