The Investment Manager

Australia-based asset manager specialising in global equities

Founded in 1994, staff remain co-owners of the firm

US$10 billion in total funds under management^

Platinum Investment Management Limited (Platinum) is the Investment Manager to Platinum World Portfolios PLC (PWP) and its sub-funds. Founded in Sydney, Australia in 1994 by Kerr Neilson, Andrew Clifford and several like-minded former colleagues, Platinum has built a strong long-term track record as a fund manager specialising in international equities.# In addition to the Platinum World Portfolios sub-funds, Platinum also manages multiple other pooled investment vehicles and institutional mandates that cover a range of different regional (Asia-ex Japan, Japan, and Europe) and industry (health care, technology, and brands/consumer) focuses.

Platinum’s style of investment is focused on seeking out companies whose true worth and prospects are yet to be fully recognised by the market. Past performance shows that our approach is one that has worked in different economic climates and withstood the test of business cycles.

The Platinum Way

Platinum’s approach to managing our clients’ wealth is shaped by five pillars:

  • A contrarian, long-term investing philosophy

    With a focus on achieving strong long-term absolute returns (rather than simply by comparison to a benchmark index), we look beyond short-term market turbulence caused by events of a transient nature to seek out ‘unfashionable’ companies whose actual worth is greater than the value implied in their present share price.

  • A bottom-up, index-agnostic approach to stock selection

    As a true active manager, we build up our portfolios by selecting one company holding at a time through quantitative analysis and detailed fundamental research. The proportion that each investment represents in a portfolio of, say, 80 companies is based on the conviction we hold in that particular investment case. The composition of a portfolio is not influenced by what stocks make up the index that is used as a comparative reference to evaluate the portfolio’s performance (such as the MSCI All Country World Index) or the weightings of the stocks within that index. As a result, Platinum’s portfolios tend to give investors a very different exposure to that offered by commonly used market indices or index-tracking funds, whether by region, sector or in terms of opportunities in specific companies.

  • Uncompromising business ethics

    Our business is centred on providing dependable service to our clients, not the pursuit of sales targets or the accumulation of funds under management. That ethos has underpinned Platinum’s approach to investing, product distribution, investor communications and every other aspect of our operations since the beginning. 

  • A dedicated and experienced team

    Making all of this possible is our dedicated staff of more than 118 employees, including 34 analysts and 10 portfolio managers in the investment team and just over 84 employees in operational roles (as at 30 June 2022), many of whom have been with the firm for over 7 years

  • Alignment of interests

    Many Platinum employees, including key members of the investment team, have co-invested their personal money in our funds alongside our clients. Platinum is ultimately owned by Platinum Asset Management Limited (ABN 13 050 064 287), a company listed on the ASX (ASX ticker PTM). Further, Platinum’s incentive structure emphasises performance-based remuneration, with one of the key components being a deferred bonus plan that awards high-performing employees with deferred rights in PTM shares.

Our Philosophy

Just as optimism and pessimism ebb and flow in stock markets, similar sentiments affect the share prices of individual companies, causing the price of shares to deviate significantly from their intrinsic worth at times. The temporary divergence between the inherent value of a business and the market’s perception and expectations of it, as reflected in the company’s share price, is the opportunity that we seek to exploit.

What creates these opportunities is investors’ inability to anticipate and fully comprehend change, compounded by such emotional drivers as fear, fashion and greed. While share prices frequently fluctuate in reaction to inconsequential news headlines and overreact to recent events of a salient, though transitory, nature, be they positive or negative, markets rarely respond proportionately to real changes in the intrinsic value of the business. Moreover, the plethora of market ‘noise’, together with the availability bias innate in human beings, causes investors to extrapolate – inferring simplistically that the trend line observed today will continue into tomorrow.

These attributes lead to a general tendency by market participants to chase the next big growth story while neglecting businesses that are facing temporary set-backs or undergoing periods of change and transition. It is at this point of change and consequential doubt that the market is most vulnerable to mispricing a company’s true prospects.

The key to Platinum’s investment approach lies in distinguishing companies with sound businesses that are undergoing creative destruction, from those that are facing fundamental challenges. This requires independent thought and practical business acumen.

Adopting a contrarian approach to investing means that we can periodically face trying times, because there can be a lag – months or years – before the market recognises the intrinsic value of out-of-favour companies. Strong discipline is needed to adhere to the investment thesis and remain unperturbed by market volatility in both good times and bad. We minimise “case drift” by ensuring that each investment is supported by a written report that lays out the investment case in detail. Note, however, it is equally important to recognise when an investment case is not playing out due to altered fundamentals in the business. In the event of a company failing to meet our pre-determined performance milestones, the shares are likely to be sold.

Our Method

Our search for intrinsic value is simple in concept. Applying the concept, however, requires a methodical and disciplined process and a certain mentality. We have a methodology at work, and its robustness is proven by the long-term track record of our portfolios. 

Our fundamentals-driven approach means that we build each portfolio from the bottom up through individual stock selection. As a result, the disposition of our portfolios can – and often does – differ significantly from that of the benchmark index. 

We also do not follow any pre-determined asset allocation model, though an understanding of the broader socio-political and macroeconomic trends play an important part in our stock picking process. 


We use various devices to make sense of the huge universe of stocks available, including proprietary models that allow for the selection of companies based on specific parameters (or screens) across a databank of several thousand companies. The screens may be based on quantitative criteria, but may also be built on a qualitative hypothesis centring on, for example, certain industry trends. This process allows us to delve deeply into cross-comparative studies of companies around the world, thereby drawing up short-lists for further investigation.

Idea generation

Generation of themes and ideas is eclectic in nature. Apart from applying quant tools to look for signals of neglect, there is a constant input from observations of the changing socio-economic and political landscape as well as secular trends such as the technological disruptions of traditional industries and new consumer trends emerging amongst the growing middle class of some developing economies. 

Great store is placed on the cross-pollination of ideas and the importance of applying a global perspective to each company’s operations. Our investment team is structured with the specific aim of fostering an open and collaborative environment and to facilitate the free exchange of information and ideas between analysts with different geographic and industry specialisations.

Intensive research

Once a company has been identified as a potential investment opportunity, it is then investigated by an analyst in great detail and depth, harnessing all the resources available to us, including material from the company itself as well as its competitors, broker reports, industry studies and consultations with experts. Analysts also periodically make on-site visits to portfolio companies (and potential ones) as well as their competitors and suppliers.

It goes without saying that the quantitative and qualitative analyses of a company encompass considerations such as:

  • what gives the company’s business a competitive edge and whether its success is sustainable; 

  • the quality of the company’s management team, as measured by its past record, duly adjusted for the circumstances at the time, as well as statistical comparison with its peers;

  • the company’s ownership structure;

  • whether the company is financially sound, such as the extent of its reliance on debt financing and its ability to service its debt; 

  • how much free cash flow the company is generating, how much and how likely its free cash flow will grow in the future, and how much of that cash flow will reach the hands of shareholders; 

  • whether company’s intrinsic value (as determined by factors such as those mentioned above) is being over- or under-estimated by the market, as reflected in such metrics as the price-to-earnings ratio and price-to-book ratio, etc.

In reality, this information is largely available to all serious market participants, but it is the interpretive skill and mentality that make the difference.

To properly evaluate the prospects of a company and to what extent it is being mispriced by the market, we go above and beyond the financial statements and earnings forecasts and truly immerse ourselves in its business to find out how it works, how it has evolved and developed into what it is, and what really makes it tick.

The key lies not in the quant tools or valuation models, but partly in the mentality of a long-term investor, in contrast to that of a short-term speculator. As shares represent part ownership interests in a company, we think about each opportunity through the lens of one who is considering becoming a joint-owner of the business and demand from ourselves an in-depth understanding of – and conviction in – the business before committing any capital to it. 

Peer scrutiny

The research findings and analysis are distilled into a detailed report. This is then subjected to the critical appraisal by other team members who meet to rigorously debate the merits of the case. The purpose of these meetings, which can last for hours, is to expose areas of concern and potential flaws in each investment thesis, rather than to achieve a consensus. The final decision lies not with a committee, but solely between the analyst who is the promoter of the idea and individual portfolio managers.

The research report would highlight specifically the achievements expected from the company being proposed. These vary considerably, depending on the nature of the company involved, but, among other things, would include sales and earnings targets. Failure by the company to meet these targets would raise concern and, notwithstanding confirmatory price action, could result in the shares being sold. It is Platinum’s experience that when such targets are met or exceeded, the company’s share price tends to overshoot expectations. 

Portfolio construction & balancing

Each of our portfolios is assembled from a series of individual stock selections, with the weightings determined by the relevant portfolio managers based on their conviction in each investment case (subject to the limits prescribed in the mandate). A well-recognised index such as the MSCI All Country World Index is used as a reference to evaluate the performance of a portfolio in relation to the total market opportunity in which it invests, but the stocks that make up the index or the weightings of those stocks within the index have no bearing on the composition of the portfolio. 

We view portfolio construction as an organic layering process, not a formulaic procedure. At any time, there will be exciting new ideas, others that have made an initial contribution and stocks that are starting to tire as the market catches up with the company’s fair value. In addition to closely monitoring the unfolding of each investment case, care is taken to understand the interplay between stocks and themes within a portfolio, ensuring that the portfolio remains well-balanced as its thematic focus shifts from one area to another. 

When there is a shortage of compelling stock ideas, the cash balance will tend to rise (and vice versa). As such, after periods of a very strong run-up across a broad range of stocks held, a portfolio may hold significant cash positions. Likewise, when our research reveals companies whose prospects are improbably refulgent and extravagantly overvalued, short-selling (where permitted under the mandate) may be undertaken, aiming to manage portfolio risk as well as increase returns.

*The animated video above is a stylised representation of a complex process.

Risk Management

Managing market risk

We view risk primarily as the prospect of losing our clients’ capital, rather than any short-term volatility or tracking error (i.e. underperformance relative to a benchmark). Our stock selection process is core to the management of risk. In particular:

  • As a result of our bottom-up investment process, the key portfolio risks are the specific risks associated with each individual stock in the portfolio. We view stock-specific risk as a function of our knowledge of the business and seek to manage this by means of meticulous research, robust peer review and ongoing monitoring. Our index-agnostic approach allows us to control the absolute risk of the portfolios.

  • Our particular focus on companies that are out of favour with the market means that we purchase shares when their price is already discounted relative to their intrinsic value. Our experience has shown that the depressed entry price can inherently limit downside risk. 

  • Appropriately calibrating the weight of each position within a portfolio based on the merits of each investment case is another important means of risk management in our process. We avoid excessive concentration in a portfolio and the diversification guidelines of our funds and mandates help to manage portfolio risk without unduly restricting the investment process. Under most of our mandates, the portfolio will seldom invest more than 5% of its net asset value at the time of investment in the shares of a single issuer.

  • Within a portfolio, care is taken to avoid excessive exposure to areas that have a high co-variance. This may be considered by industry or country. Within a country, there are other considerations such as susceptibility to currency fluctuations, interest rates and government actions. At the industry level, consideration will be given to the nature of its structure, such as concentration, cyclicality, relative maturity, threat of substitution and so on. Regular analysis highlights the profile of the portfolios by geographic, industry, emerging market, liquidity and other characteristics.

  • When the market experiences widespread excessive exuberance and undervalued stocks become scarce, we will increase our cash holdings and reduce our net equity exposure to protect the portfolio.

  • Similarly, we may short-sell stocks and indices that have been identified as being extravagantly overvalued by the market (where permitted under the mandate). Short-selling may be employed as a means to limit risk by reducing a portfolio’s net invested position. It may also be undertaken with the aim of increasing returns by seeking to profit from a fall in the share price of a particular company or the prices of a sector or market more broadly, as represented by indices. Short positions in our portfolios are generally established through equity swaps, which are cash-settled non-deliverable contracts.

  • Objective measures of a portfolio’s aggregate characteristics (in terms of growth, profitability, leverage and value) are conducted periodically.

From time to time, we utilise derivative instruments to manage risk, including (subject to mandate restrictions):

  • selling index futures or buying index put options to reduce market risk in a portfolio;

  • buying call options or warrants over a security to reduce the cost or potential downside of holding a given stock; and

  • where we have identified stocks that we believe to be overvalued, buying put options over those stocks or short-selling them.

Managing currency risk

International equity investments create an exposure to foreign currency fluctuations which are affected by factors such as interest rate differentials, economic performance, trade flows, purchasing power parity measures, and government policies. Movements in foreign exchange rates can change the value of the equity investments measured in a portfolio’s reporting currency. It is a component of Platinum’s investment process to assess the potential returns and risks created by currency exposure and position the portfolios appropriately to attempt to capture those returns while minimising those risks.

The aim is for each portfolio to be exposed to the greatest extent possible to appreciating currencies and for its exposure to depreciating currencies to be minimised.  

We actively manage the currency exposure of our portfolios using foreign exchange forward contracts, currency swaps, non-deliverable forward contracts, and currency options, as well as spot foreign exchange trades (where permitted under the mandate).

More generally, our investment process involves assessing the indirect impact of currency on a business (e.g. the impact of currency fluctuations on a manufacturing company with significant export sales), and the potential for exchange rate movements to amplify or diminish the returns earned from our investment in a company when translated into reporting currency. Cash positions may also be held in portfolios taking into account the potential currency impact (as well as interest rate and credit risk considerations).

Responsible Investing

Environmental, Social and Governance (ESG) Considerations in Investing

Platinum is a fundamental equity investor and believes that private enterprise plays a central role in wealth creation and social advancement. It is also our belief that value creation for shareholders ought to be aligned with value creation for society at large. Platinum invests with a long-term outlook (typically five years or more) and, as part-owners of the enterprises in which we invest, it is paramount to us that they maintain their social licence to operate. As such, we view social and environmental sustainability as well as sound corporate governance as being vital to a company’s long-term viability, growth and profitability.

Platinum’s approach is focused on identifying companies whose intrinsic value is under-appreciated by the market due to temporary drawbacks or irrational market sentiments. Material ESG trends and factors can directly and indirectly impact on a company’s financial performance and prospects, and when such externalities are not fully reflected in the company’s share price, it may create opportunities for the discerning, but may also pose investment risks for the unwary.

To assess a company’s true worth – the core of our mission, a nuanced consideration of the company’s operations and operating environment is essential, and the evaluation of material ESG issues and risks, like traditional financial and operational factors, is an integral part of this exercise. We believe, based on both Platinum’s own experience and studies by third party researchers, that incorporating ESG considerations into the investment process by employing a robust framework can lead to more informed and holistic investment decision-making and, ultimately, better investment outcomes for our investors.

To this end, Platinum has adopted a Responsible Investment Policy which affirms our commitment to responsible investing by outlining our approach to:

  1. incorporating ESG considerations into our investment process, which is implemented through three key integration techniques:

    • applying exclusionary screens to restrict investment in specific sectors or companies (e.g. tobacco and military weapon makers);

    • generating investment ideas through the analysis of ESG trends and themes; and

    • integrating the analysis of ESG issues and factors into our fundamental stock research;

  2. engagement with portfolio companies; and

  3. proxy voting.

The ESG factors that we may examine in our integrated analysis are wide-ranging and would depend on the industry concerned as well as the geographic location of the business. Some examples include, but are by no means limited to:

  • Environmental – carbon footprint, resource depletion, and waste management.
  • Social - working conditions and industrial relations, community resettlement (e.g. by mining companies or real estate developers), product safety, and cybersecurity.
  • Governance - executive compensation, board independence and diversity, as well as having processes in place to prevent bribery, corruption and other malpractice.

These issues can have an impact on the environment and/or communities (including employees and consumers), but they also present regulatory, operational and economic risks to the company which may potentially have a material impact on its financial performance and hence investor returns.

For a more detailed description of our approach to integrate ESG considerations into Platinum’s system, please refer to the Responsible Investment Policy.

Read the Latest Investment Report



Prices & Performance



Fund Updates & Reports

Terms and Conditions

Dated: 1 July 2023
IMPORTANT NOTICE - Please read this important notice before proceeding.

This website,, is operated by Platinum World Portfolios PLC, an investment company with variable capital incorporated with limited liability in Ireland with registered number 546481 and established as an umbrella fund with segregated liability between its sub-funds pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011, as amended (the "UCITS Regulations")("the Company", "we" or "us").

By proceeding to access, view or download information from this website, you acknowledge that you have read, and agree to be bound by, the following terms and conditions. If you do not agree to these terms and conditions, you must not use this website.

  • Distribution of the information contained on this website in certain jurisdictions may be restricted by law. The information contained on this website is intended only for persons and entities in those jurisdictions where access to such information and use thereof is not contrary to local laws or regulations. Accordingly, all persons who access this website are required to inform themselves and to comply with such restrictions. In addition, this website and its contents have not been prepared for and are not intended for access by US persons as defined in the Securities Act of 1933.
  • By accessing this website, you confirm that you are a resident of:
    • (a) Finland, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain or Sweden (collectively, the "Approved EU Jurisdictions") and a Professional Client within the meaning of Article 4.1(10) of the Markets in Financial Services Directive 2014/65/EU (MiFID II);
    • (b) the United Kingdom and a Professional Client as defined by the UK Financial Conduct Authority ("FCA") and note that the information contained in this website is not to be relied upon by other persons, such as Retail Clients, as defined under the FCA's Rules (definitions can be found on the FCA website at;
    • (c) Switzerland and a Qualified Investor within the meaning of Article 10 para. 3 and 3ter of the Swiss Collective Investment Schemes Act (CISA); or
    • (d) Singapore and (i) an Institutional Investor pursuant to Section 304 of the Securities and Futures Act of Singapore ("SFA"), (ii) a Relevant Person pursuant to Section 305(1) of the SFA, or any person pursuant to Section 305(2) and in accordance with the conditions specified in Section 305 of the SFA, or otherwise (iii) pursuant to and in accordance with the conditions of any other applicable provision of the SFA.
  • This is a marketing communication. Accessing this website does not constitute the entering into of a contractually binding document. Prior to making any investment in the Company, please refer to the Company's Prospectus and to the relevant Key Investor Information Documents and/or PRIIPs Key Information Document (as appropriate) and do not base any final investment decision on this communication alone.
  • An investment in the Company and its sub-funds involves investment risks, including possible loss of the entire amount invested. There can be no assurance that the sub-funds will achieve their investment objective. The capital return and income of a sub-fund are based on the capital appreciation and income on its investments less expenses incurred. Therefore, a sub-fund's return may be expected to fluctuate in response to changes in such capital appreciation or income. Changes in exchange rates may have an adverse effect on the value of the investment. Subject to the conditions and within the limits from time to time laid down by the Central Bank of Ireland ("CBI"), and except where otherwise stated in the investment objective and policies of a sub-fund, each sub-fund may engage in transactions in financial derivative instruments (FDI, as referred to in the UCITS Regulations), whether for efficient portfolio management purposes (i.e., hedging, reducing risks or costs, or increasing capital or income returns) or investment purposes.
  • For persons resident in the United Kingdom or an Approved EU Jurisdiction ("UK or EU Persons"): You are about to enter a website which contains information aimed at Professional Clients (as defined by the FCA and MiFID II, respectively). This website does not constitute an offer or invitation to subscribe for shares in the Company and no UK or EU Person other than a Professional Client resident in the United Kingdom or an Approved EU Jurisdiction should access, act on or rely on this website.
  • Platinum UK Asset Management Limited of 20 North Audley Street, London W1K 6LX ("PAM UK") has been appointed as the sub-distributor of the Company in the United Kingdom. PAM UK is an appointed representative of Mirabella Advisers LLP which is authorised and regulated by the FCA - number 606792. The content of this website has been approved by Mirabella Advisers LLP with respect to dissemination in the UK only.
  • In the Approved EU Jurisdictions only, the contents of this website are disseminated by Carne Global Fund Managers (Ireland) Limited (a UCITS Management Company (within the meaning of Article 4.1(28) of MiFID II), regulated by the Central Bank of Ireland - number C46640).
  • In Switzerland, the representative of the Company is ACOLIN Fund Services AG, Leutschenbachstrasse 50, 8050 Zürich, Switzerland; and the paying agent is Helvetische Bank AG, Seefeldstrasse 215, 8008 Zürich, Switzerland. The basic documents of the Company as well as the annual and, if applicable, semi-annual report may be obtained free of charge from the representative. Past performance is no indication of current or future performance. The performance data do not take account of the commissions and costs incurred on the issue and redemption of shares. Please be aware that this website may include funds or sub-funds for which neither a representative nor a paying agent in Switzerland have been appointed. The Company and its sub-funds have not been registered with the Swiss Financial Market Supervisory Authority (FINMA) as a foreign collective investment scheme pursuant to Article 120 of CISA.
  • In Singapore, it is to be noted that this website does not pertain to a collective investment scheme which is authorised under section 286 of the SFA or recognised under section 287 of the SFA. The Company and its sub-funds are not authorised or recognised by the Monetary Authority of Singapore and the shares of the Company are not permitted to be offered to the retail public. This website and the information contained on it does not constitute a prospectus as defined in the SFA. Accordingly, statutory liability under the SFA in relation to the content of this website does not apply.
  • When using this website, you are responsible for complying with all applicable local, national and international laws and regulations, including those related to data privacy and intellectual property. It may be illegal to access or download the information contained on this website in certain jurisdictions and we disclaim all responsibility if you access or download any information from this website in breach of any law or regulation of the jurisdiction in which you reside or from which you are accessing this website.
  • The investment funds, strategies and financial products and services described in this website may not be available in all jurisdictions and may not be available to some or all investors in a certain jurisdiction. Nothing contained on this website constitutes or is intended to constitute an offer or a solicitation to subscribe for, redeem or convert shares in the Company or any of its sub-funds in any jurisdiction in which such an offer or solicitation is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. Investments into any fund or sub-fund referred to on this website or any other Platinum product or strategy can only be made through and in accordance with information contained in the relevant offering and subscription documents.
  • The content on this website is provided for general information only. Nothing contained on this website is intended to constitute investment, legal, tax, accounting or other advice. We strongly suggest that investors consult financial and other professional advisers prior to taking, or refraining from, any action on the basis of the content on this website and that you carefully consider your particular investment needs, objectives and financial circumstances. This website does not take into account the investment objectives, financial situation or particular needs of any person and should not be used as the basis for making investment, financial or other decisions. The information is selective and may not be complete or accurate for your particular purposes and should not be construed as a recommendation to invest in any particular investment strategy, security, fund, sub-fund or product, whether or not offered by the Company.
  • The information provided on this website is given in good faith and is believed to be accurate at the time of compilation. The Company may, without notice, amend or remove any information on or from this website at any time. Neither the Company nor any of its directors, officers or agents (including, without limitation, the Company's investment manager, administrator or custodian) make any representation or warranty as to the accuracy, reliability, timeliness or completeness of the information. To the extent permissible by law, the Company and its directors, officer and agents (including, without limitation, the Company's investment manager, administrator or custodian) disclaim all liability (whether arising in contract, tort, negligence or otherwise) for any error, omission, loss or damage (whether direct, indirect, consequential or otherwise). To the extent permitted by law, we exclude all conditions, warranties, representations or other terms which may apply to our website or any content on it, whether express or implied.
  • Opinions expressed on this website reflects our views only at the time at which such opinions are expressed and may depend on assumptions or projections that may not prove to be correct or are subject to change.
  • This website may provide information, articles and material, or links to such, that are written or prepared by people who are not associated with the Company. This material is only provided for your interest and convenience. The Company is not responsible for the content or accuracy of this material and any opinion expressed in the material should not be taken as an endorsement, recommendation or opinion of the Company.
  • We do not guarantee that this website, or any content on it, will always be available or be uninterrupted. Access to this website is permitted on a temporary basis. We may suspend, withdraw, discontinue or change all or any part of this website without notice. We will not be liable to you if for any reason this website is unavailable at any time or for any period. You are responsible for making all arrangements necessary for you to have access to this website. You are also responsible for ensuring that all persons who access this website through your internet connection are aware of these terms of use and other applicable terms and conditions, and that they comply with them.
  • Performance figures quoted on this website are past performance. Past performance is not an indicator of future performance. Neither the Company nor any of its directors, officers or agents (including, without limitation, the Company's investment manager, administrator or custodian) or any associate guarantee or make any representation as to the performance of any of the sub-funds offered by the Company, the maintenance or repayment of capital, the price at which shares in the Company or any of its sub-funds may trade or any particular rate of return.
  • MSCI Inc. Disclaimer - All data where MSCI is referenced is the property of MSCI Inc. No use, further distribution or dissemination of this data is permitted without the express written consent of MSCI Inc. This data is provided "as is" without any warranties by MSCI Inc. MSCI Inc assumes no liability for or in connection with this data. You acknowledge that neither MSCI Inc. nor any other party involved in or related to compiling, computing or creating any of the MSCI index data referred to on this website makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI Inc., any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.
  • You acknowledge and agree that the collection, disclosure or use of information about you from accessing this website is subject to the terms of the Company's Privacy Policy.
  • The Company may from time to time amend the terms and conditions of accessing this website by posting an amended version of this notice on this website. You agree to continue to be bound by any amended terms and conditions and that the Company has no obligation to notify you of such amendments other than by posting an amended version of these terms and conditions on this website.
  • The Company owns the copyright in the content contained in this website (other than materials that have been included with the permission of others who own the applicable copyright). You may print a copy of any page for personal or non-commercial purposes provided that you do not remove any copyright notices or any trademarks or logos of the Company or persons or entities associated with it. Except for a purpose or a use permitted by statute, or the prior written consent of the Company, you must not copy, modify, sell, distribute, adapt, publish, frame, reproduce or otherwise use any of the material on this website or trademarks or logos of the Company or persons or entities associated with it.
  • These terms and conditions of use are governed by and construed in accordance with the laws of Ireland and you agree to the non-exclusive jurisdiction of the Courts of Ireland.