It is imperative that you understand the risks associated with investing. Some funds represent low risk and some high.
Your adviser at Romilly IFA will discuss your attitude in detail before recommending any product or fund to you.
Please read the details below. Be sure to discuss any you do not understand with your adviser.

•    Past performance of an investment is no guide to its performance in the future.
•    Investments, or income from them, can go down as well as up.
•    Risk can be brought about by the performance of world markets, interest rates, taxes on income and capital, and foreign exchange rates.
•    You may not necessarily get back any of the amount you invested.
•    Smaller company shares can be relatively illiquid, meaning they could be harder to trade, which makes them higher risk.
•    Content and information about potential investments are designed for general use, and so cannot be considered personal to your circumstances or your financial position.
•    This site does not offer advice.
•    If you are unsure about any investment or financial decision, you should seek expert independent advice.
•    This site and its services are only directed at persons in the UK.

Full Discretionary Fund Management Risk Warning

1. The market information relating to the past performance of an investment is not necessarily a guide to its performance in the future. The value of investments or income from them may go down as well as up. As stocks and shares are valued from second to second, their bid and offer value fluctuates sometimes widely. The degree of fluctuation of fund values varies significantly and the value of higher volatility funds may change suddenly. The value of investments may rise or fall due to the volatility of world markets, interest rates and capital values or, for investments held in overseas markets, changes in the rate of exchange in the currency in which the investments are denominated. You may not necessarily get back the amount you invested.
2. Taxes may affect the net value of your investments and income received from them. Levels and bases of, and reliefs from, taxation are subject to change as UK legislation and regulations and the UK tax regime are amended from time to time. Any content on this site referring to such legislation, regulations or tax regime should not be relied upon.
3. All content provided through this site is only for your personal information and use, and is not intended to address your particular requirements or to be relied upon in making (or refraining from making) any specific investment or other decision. Such content shall not constitute any form of advice or recommendation by us.
4. Where you are unsure about any specific investment or other decision, you should obtain appropriate expert independent advice.
5. Unless otherwise stated, this site is directed only at, and the services provided through this site are only available to, persons in the United Kingdom. Persons outside the United Kingdom should not use or rely upon any content or services provided through this site.
6. Nothing included in this site constitutes an offer or solicitation to sell investments to anyone in any jurisdiction outside the United Kingdom in which such offer, solicitation or distribution would be unlawful.

Discretionary Fund Management Warrants

1. A warrant is a time-limited right to subscribe for shares, debentures, loan stock or government securities and is exercisable against the original issuer of the underlying securities. Warrants often involve a high degree of gearing, so that a relatively small movement in the price of the underlying security results in a disproportionately large movement, unfavourable or favourable, in the price of the warrant. The prices of warrants can therefore be volatile.
2. It is essential for anyone who is considering purchasing warrants to understand that the right to subscribe which a warrant confers is invariably limited in time with the consequence that if the investor fails to exercise this right within the predetermined time scale then the investment becomes worthless.
3. You should consider carefully whether warrants are suitable for you in the light of your circumstances and financial position.
4. You should not buy a warrant unless you are prepared to sustain a total loss of the money you have invested plus any commission or other charges.
5. Some other instruments are also called warrants but are actually options (for example, a right to acquire securities which is exercisable against someone other than the original issuer of the securities, often called a 'covered warrant').

Off-Exchange Discretionary Fund Management Transactions

1. Transactions in off-exchange warrants may involve greater risk than dealing in exchange-traded warrants because there is no exchange market through which to liquidate your position, or to assess the value of the warrant or the exposure to risk. Bid and offer prices need not be quoted, and even where they are, they will be established by dealers in these instruments and consequently it may be difficult to establish what a fair price is.
2. We will make it clear to you if you are entering into an off-exchange transaction in any warrants and advise you of any risks involved.

Discretionary Fund Management & Foreign Markets

Foreign markets will involve different risks from United Kingdom markets and in some cases the risks will be greater. On request, we will provide you with an explanation of the relevant risks and protections which will operate in any foreign markets, including the extent to which we will accept liability for any default of a foreign broker whom we use to process deals. The potential for profit or loss from transactions on foreign markets or in foreign denominated contracts will be affected by fluctuations in foreign exchange rates.

•    Past performance is no guarantee of future returns.
•    The price of units/shares and the income from them can fall as well as rise.
•    The value of this investment is not guaranteed and on encashment you may not get back the full amount invested.
•    If withdrawals are made at a rate which exceeds the net growth of the fund, capital will be eroded.
•    If upon realisation your total gains (from all sources and aggregated with any allowable losses) are greater than your annual Capital Gains Tax allowance, there will be tax to pay at a rate of 18%.