User Terms and Conditions

The document issued in German is legally binding. This English translation is only for the purpose of convenience.

1. User authorisation

When you access this website, Flossbach von Storch AG grants you revocable and non-transferable permission to use it. This applies only if you acknowledge these User Terms and Conditions and observe the restrictions they impose. You may not interfere with the operation of the site or seek to influence it in any way.

2. Important general information

The data on this website is for your information only. It does not constitute investment advice, or advice on tax or legal matters. Nor does it contain any offer, recommendation or incitement to make investment decisions of any kind, e.g. to deal in financial instruments (including shares, bonds, investment funds, certificates) or to conclude any contracts for financial services (e.g. wealth management) or to conclude any other kind of contract (e.g. Family Office agreements). In particular, this information should not be used as a substitute for suitable investment- and product-related advice. Unless expressly stated otherwise, all pricing information is non-binding.

With respect to information on investment funds, please note that the sole basis for purchase is in each case the relevant sales prospectus, including the contract terms and conditions, the latest audited annual report, and the half-yearly report if such a report is available for a more recent date than the latest annual report. These sales documents may be obtained free of charge from the relevant investment fund company or custodian bank, from paying agents, or from Flossbach von Storch AG; they can also be downloaded from this website. Flossbach von Storch AG gives no guarantee as to the accuracy and completeness of such documents.

The same applies to other investment products and the applicable sales documents.

Please bear in mind that the value of a financial investment can go down as well as up. Investors must therefore be ready and able to accept losses on their invested capital. Past investment results are not a reliable guide to future performance.

3. Sales restrictions

The dissemination of information on this website and the purchase of investments mentioned therein (e.g. investment funds) is prohibited, or permitted only subject to special permission from or registration with the relevant supervisory authorities, in certain countries and to the citizens of certain countries (e.g. the USA), and also to other persons and companies subject to the restrictions imposed by such countries. This website is not intended for the use of such persons or companies, or to persons acting on behalf of such persons, companies etc.

Moreover, some of the products and services described on this website are not available in all countries. They may be available only if Flossbach von Storch AG has the necessary licence to operate in the country concerned and/or the products and services in question are permitted to be sold there. Further details are available on request.

4. Important notice for US persons

The contents of this website, particularly the information on investment funds, are not intended to apply to sales in the USA or to US persons (i.e. persons who are US citizens, resident in the USA, or otherwise subject to US legislation, or companies subject to the laws governing US territory). Accordingly, the investment funds mentioned on this website, in particular, are not on offer in the USA or to US persons. Please note that it is also specifically forbidden to transfer such investments to the USA or to US persons by any means whatsoever.

5. Forecasts

This website may contain forecasts. Although such forecasts may represent the views and future expectations of Flossbach von Storch AG, actual developments and results may differ substantially from such expectations. Flossbach von Storch AG is under no obligation, and expressly excludes any such obligation, to update its forecasts or to change them, on the basis of either new information or future events, or for any other reason.

6. Information / Data

Flossbach von Storch AG regularly checks and updates the information on this website. Despite due care, however, the data underlying this information may have changed in the period since the last review. We therefore accept no liability and offer no guarantee as to whether the information is up to date, correct or complete, excepting liability for gross negligence or deliberate misconduct.

Flossbach von Storch AG accepts no liability for losses of any kind arising from the use of content and information on this website.

Nor will Flossbach von Storch AG give any assurance that any function or content on this website, or the site itself, is free of errors and free from viruses or other damaging elements, or that errors will be corrected.

7. Links to other websites

This website may contain links to other websites. When first setting up the link, Flossbach von Storch AG will have checked the linked site for illicit content and found none at that time. However, Flossbach von Storch AG has no influence over the current and future design or content of such linked sites and will accept no liability for such content or design. You use any of these websites at your own risk. If you find that we have linked to websites with illegal or dubious content (e.g. racial hatred, pornography, fraud, deception), please let us know, as any such link is of course unintentional. Flossbach von Storch AG will then remove the offending links as soon as possible.

8. Copyright and trademark rights

All rights, titles and claims (including copyright, brands, patents and other intellectual property or other rights) in, for and from all information and content (including all text, data, graphics and logos) on this website are fully subject to the respective current regulations and to the property rights of the respective registered owners. Use of this website does not confer any rights to the content. The copyright for the published content created by Flossbach von Storch AG itself remains with Flossbach von Storch AG. No such content, including graphics, sound files, video clips and text, may be duplicated or used, either wholly or in part, in any other electronic or print publication or in any other form without the written permission of Flossbach von Storch AG. If permission is given its scope must not be exceeded and attention must be drawn to the origin of the duplicated material and to the rights of Flossbach von Storch AG.

9. Communication by email

The internet is publicly accessible, which means that ordinary emails sent via the internet are neither confidential nor secure: it is possible that they may be viewed, captured or modified by third parties, or get lost. Emails may cross borders, even if both sender and receiver are in the same country. You should therefore refrain from sending personal or confidential information, particularly account information, by email.

Unless there is an express agreement to the contrary, Flossbach von Storch AG will not accept orders or instructions sent by email or other electronic messaging systems.

Flossbach von Storch AG is not liable either to you or to other persons for losses arising from messages sent by ordinary email or any other electronic messaging system.

When sending confidential information, therefore, you are advised to use postal services.

10. Limits of liability

You use this website at your own risk. You are solely responsible for the consequences of such use and of any downloading of its content.

Flossbach von Storch AG will accept no liability for any losses of any kind arising from information published on the website, or for failure to publish such information. This applies in particular to losses arising from investment decisions. This exclusion of liability also applies to direct or indirect compensation claims, claims in tort, atypical claims and claims for consequential loss.

This exclusion of liability does not apply where it is prohibited by applicable law, or to gross negligence or intentional misconduct on the part of Flossbach von Storch AG.

11. Arbitration Board

The arbitration board for the Association of Independent Asset Managers (VuV) is responsible for proprietary disputes.

The address of the VuV’s Ombudsman is: Stresemannallee 30, 60596 Frankfurt am Main,

We are members of the Association of Independent Asset Managers (VuV) and as such are obliged to participate in the arbitration process.

12. BVI Rules of Conduct

BVI's Rules of Conduct set voluntary standards that go beyond the statutory obligations of fund managers. They take account of their role as trustee, which places particularly high demands on the conduct towards investors. We, Flossbach von Storch AG, comply with the Rules of Conduct in the version of 6 October 2016. These are available from the BVI website.

13. Sundry provisions

13.1 Applicable law

Unless otherwise stipulated by contract or otherwise provided where there is a conflict of laws, these User Terms and Conditions are governed by German law.

13.2  Scope

These User Terms and Conditions apply between users of the website and Flossbach von Storch AG, and also extend to their respective successors in title, and to their respective assignees and agents. Insofar as any rights can be derived from these User Terms and Conditions, Flossbach von Storch AG may transfer such rights to third parties.

13.3 Availability of the website

Flossbach von Storch AG reserves the right to modify, suspend or completely cease the operation of this website at any time, including the services, information, properties or functionalities offered on the website that may be accessible through permitted use of the site. Flossbach von Storch AG also reserves the right to restrict the use of any particular properties, functionalities or services or to restrict access to all or part of the website without notice.

13.4  Transfer of operations

Flossbach von Storch AG reserves the right at any time to entrust functions relating to the operation of the website toa third party.

13.5  Amendments to the User Terms and Conditions

Flossbach von Storch AG reserves the right to amend or supplement these User Terms and Conditions at any time. You should read these User Terms and Conditions each time you use the website in order to familiarise yourself with any possible alterations.

13.6  Contractual agreements

Should any contractual agreement you make with Flossbach von Storch AG diverge from these User Terms and Conditions, the contractual agreement shall take precedence.

13.7  Voidance clause

Should any provision or part provision in these User Terms and Conditions be unlawful, invalid or unenforceable,this shall not affect the lawfulness, validity or enforceability of the other provisions in these User Terms and Conditions.