Global terms & conditions

The following terms and conditions apply to the use of this website. There are country specific terms and conditions which may also apply to your use of this website, depending on your country or region of residence. Copies of these specific terms and conditions may be accessed via the relevant country-specific website pages.

Terms of use: Ninety One UK Limited and its subsidiaries, affiliates, principals and employees (“Ninety One” or “us” or “we”) do not, subject to applicable law, guarantee the accuracy, validity, timeliness, completeness or suitability of any information or data made available to you through this website. The information contained on this website is compiled for the convenience of website visitors and is accepted by the website visitor on the condition, where permitted by applicable law, that errors or omissions (apart from errors and omissions caused by wilful intent or gross negligence) shall not be made the basis for any claim, demand or cause of action. The views expressed herein do not necessarily reflect the views of Ninety One nor do they constitute investment, tax, legal or any other advice. You must speak to a financial advisor or other appropriate professional advisor if you wish to obtain investment advice. The views reflected herein are subject to change without notice. We will use reasonable endeavours to update the information contained on this website but we are under no obligation to update the content of this website except where required by regulation or applicable law. Ninety One reserves the right to modify or amend these Terms of use at any time, for example to comply with new or updated laws or regulations. You agree to monitor these Terms of use and to cease all access or use of this website if you no longer agree to abide by the Terms of use. Your continued use of the website shall constitute acceptance of any modifications. Information on this website may be provided in more than one language. By continuing to use this website you are consenting to us communicating to you in this way.

We may modify, withdraw or deny access to this website at any time.

Information contained on this website is published in good faith and while Ninety One takes reasonable steps to ensure its accuracy, subject to applicable law, we disclaim all warranties, express or implied, including, but not limited to, warranties of title, non-infringement, merchantability or fitness for a particular purpose, for the information provided on this website. The use of this website is at your own risk. Where permitted by applicable law, Ninety One will not be liable (except for damages or injuries arising out of Ninety One’s wilful intent or gross negligence) for any damages or injuries arising out of your use of any such information or data, including without limitation, damages relating to any (i) error, omission, interruption, information being out of date, delay in operation or transmission, (ii) computer virus, worm, “trojan horse” or other malicious software, (iii) failure or defect in any communication facilities, hardware or software, (iv) theft and destruction or unauthorised access to, alteration of, or use of information, or (v) damages or injuries arising from links to other websites.

Decisions based on information contained on this website are the sole responsibility of the user, and in exchange for using this website, the user agrees to hold Ninety One harmless against any claims for damages arising from any decisions the user makes based on such information. 

The services, investments or products referred to on this website are not available to persons resident in any jurisdiction where such availability or distribution would be contrary to local law or regulation. This website is designed for information purposes only and, subject to applicable law, does not constitute a solicitation, a recommendation or offer by Ninety One to buy or sell any securities, futures, options or other financial instruments or to provide any investment advice or service. Visitors should not use this website as their sole source of information on investments.

You should not rely on the information contained in this website to make any investment. Whilst we try and ensure the information contained on the website is accurate and up to date, we cannot be responsible for any inaccuracies in the information. Any application for our products or services should be made only after consultation with your legal, tax and financial advisors and review of the applicable prospectus, Key Investor Information Document, Key Information Document or other offering document(s) and terms and conditions applicable to such products or services. Any information, including the prospectus, Key Investor Information Documents, Key Information Document or other offering document(s), in respect of applications can be obtained from the local office or local representative of Ninety One.

Past performance (either actual or simulated) is not a guide to future results. Investors should note that the value of the securities (and any income arising therefrom) that may be mentioned on this website may fall as well as rise. Investors are not guaranteed to make a profit; losses may be suffered. Capital is at risk; you may lose some or all of your investment.

Tax treatment depends on individual circumstances and may be subject to change in the future. Potential investors should seek their own financial and tax advice.

Cookies: Please click here for a detailed explanation of how we use cookies on this website.

Privacy statement: Please click here for our Privacy Notice. Personal data collected when visiting this website is processed in accordance with applicable data protection law. All information provided by you to Ninety One through this website is used solely by us and is not sold or provided to any other company. Personal financial information and information about our investors is regarded as private, and as such is not shared with anyone in any manner, regardless of the method by which we obtained such information. Nonetheless, we reserve the right to co-operate fully with any state, local, federal, and international officials in any investigation relating to any content (including personal or private electronic communication(s) transmitted via this website) or any purported unlawful activities of any user of this website.

Copyright: Except as may be expressly authorised, no information or material contained on this website may be reproduced, transmitted, displayed or commercially exploited without the written consent of Ninety One.

Enquiries: General enquiries about this website should be sent to [email protected]

Regulatory notices

Ninety One UK Limited is a limited company registered in England and Wales under Company No. 2036094. Its registered office is at 55 Gresham Street, London EC2V 7EL. It is authorised and regulated by the Financial Conduct Authority in the United Kingdom.

This website includes links to third party websites, which are not under the control of Ninety One. In this respect, Ninety One will incur no liability for any content, service, product or material through any linked site. Access to third party linked websites is at your own risk. Links to unaffiliated sites do not imply any endorsement of or responsibility for the opinions, ideas, products, information, or services offered at such sites.

Fund information

Ninety One Global Strategy Fund
Ninety One Global Strategy Fund (GSF) is a Société d’Investissement à Capital Variable authorised in Luxembourg under registered number 5635 and regulated by the Commission de Surveillance du Secteur Financier with effect from 1 July 2008. GSF has been established for an unlimited duration. It has been certified as UCITS (Undertaking for Collective Investment in Transferable Securities) in accordance with the Council Directive of 20/12/85 (Directive 85/611/EEC as amended).

Ninety One Luxembourg S.A. (registered in Luxembourg No. B 162485 and regulated by the Commission de Surveillance du Secteur Financier) is the Manager of GSF. Ninety One Guernsey Limited has been appointed as the Global Distributor of GSF.

Ninety One Funds Series i – iv
The Ninety One Funds Series range (series i - iv) are incorporated in England and Wales as investment companies with variable capital.

Ninety One Fund Managers UK Ltd (registered in England and Wales No. 2392609 and authorised and regulated by the Financial Conduct Authority) is the authorised corporate director of the Ninety One Funds Series range.

Botswana Unit Trusts
The Ninety One Botswana Managed Fund (Botswana Unit Trust) is a collective investment scheme as defined by the Collective Investment Undertakings Act, [CAP 56:09] .

The Management Company, Ninety One Fund Managers Botswana Proprietary Limited (IFM Botswana) (registration no. 1999/1087), is registered under the Collective Investment Undertakings Act, [CAP 56:09] and regulated by the Non-Bank Financial Institutions Regulatory Authority. 

Namibian Unit Trusts
The Ninety One Namibia Managed Fund (Namibian Unit Trust) is a collective investment scheme which is defined and administrated by the Namibian Unit Trust Control Act, 54 of 1981.

The Management Company, Ninety One Fund Managers Namibia Limited (IFM Namibia) (registration no. 1996/394), is registered under the Namibian Unit Trust Control Act, 54 of 1981 and regulated by the Namibia Financial Institutions Supervisory Authority.

South African Unit Trusts
The Ninety One Unit Trust Scheme (South African Unit Trust) is a collective investment scheme as defined by the Collective Investment Schemes Control Act, 45 of 2002. 

The unit trust manager, Ninety One Fund Managers SA (RF) (Pty) Ltd (IFMSA) (registration no. 1987/004390/07), is registered under the Collective Investment Schemes Control Act and regulated by the Financial Services Conduct Authority.

Website operator: With the exception of fund specific pages which are operated by the relevant Ninety One fund corporate entity as set out above, this website is operated and issued by Ninety One UK Limited which is authorised and regulated by the Financial Conduct Authority (Register number 122420). You can gain access to the Financial Conduct Authority's rules and guidance notes from the following link: Ninety One UK Limited is a limited company registered in England and Wales (Company No. 2036094). Registered Office: 55 Gresham Street, London EC2V 7EL.


Notice to Email Recipients: This notice is applicable to any recipient of an email from Ninety One.

The email you have received contains privileged and confidential information intended only for the use of the addressee named in the email.

Any review, retransmission, dissemination, copying, disclosure or other use of, or taking of any action in reliance upon, this information by person or entities other than the intended recipient is prohibited.

If you have received the email in error, please notify the sender by return email and delete the email. This email should not be copied or used for any purpose other than intended, nor should it be disclosed to any other person. Any views expressed in this email are those of the individual sender, except where the sender specifically states them to be the view of Ninety One.

Ninety One is not liable for the security of information sent by email at your request, nor for the proper and complete transmission of the information contained in the communication nor for any delay in its receipt. Please note that the recipient must scan this email and any attached files for viruses and the like. Ninety One accepts no liability of whatever nature for any loss, liability, damage or expense resulting directly or indirectly from the access of any files which are attached to this email, provided that no such loss, liability, damage or expense is arising out of Ninety One’s wilful intent or gross negligence.

Market abuse regulation

As part of its adoption of the Market Abuse Regulation, Ninety One requires all market operators wishing to conduct market soundings with Ninety One staff to first contact Ninety One Compliance. Please contact Compliance using the following address [email protected].


Indices are shown for illustrative purposes only, are unmanaged and do not take into account market conditions or the costs associated with investing. Further, the manager’s strategy may deploy investment techniques and instruments not used to generate Index performance. For this reason, the performance of the manager and the Indices are not directly comparable.

If applicable MSCI data is sourced from MSCI Inc. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, endorsed, reviewed or produced by MSCI. None of the MSCI data is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.

If applicable FTSE data is sourced from FTSE International Limited (‘FTSE’) © FTSE 2020. Please note a disclaimer applies to FTSE data and can be found at

Ninety One on Social Media

Social Media Guidelines and Disclosures
Our social media channels are intended to share our thought leadership and investment insights as well as our corporate announcements and community engagement with institutional investors and financial advisors. We hope you find these posts provide important and timely information that are interesting and helpful.

Below are some important disclosures that govern our participation in social channels as well as guidelines that we follow.

We are not responsible for the terms of use or privacy or security policies of any of our Social Media Platforms or any external third-party site that may be linked to them and you use these at your own risk.

Any opinions expressed by users on our Social Media Platforms are those of the persons submitting the opinion and don't necessarily represent our views.

Material has been provided for informational purposes only and should not be considered as investment advice or an offer, solicitation or recommendation for any security, strategy or investment product. All investments contain risk and may lose value.

Comment Guidelines
Given the regulatory framework around financial advice, we will remove comments with specific mention of securities, strategies or investment funds, and specific mention of investment testimonials or strategies is not permitted.

If your comment includes personal information beyond your name, or any information regarding your portfolio, we will need to remove the post. If required, we will make contact with you via private message to assist with your query after removing the comment.

Our goal is to provide updates and feature conversations that are relevant and valuable to you. To facilitate this, we ask your comments be focused on the purposes of the posts made on our individual social platforms. Comments that are off-topic, make unsupported claims, promote unrelated content or contain inappropriate or abusive language will be removed.

Southern Africa

If you are resident in Botswana, Namibia or South Africa the following terms and conditions should be read in conjunction with the Global Terms and Conditions, which shall be equally applicable.

This website is intended to provide general information regarding Ninety One, its products and services, and other financial information which may be of interest to you. It is not intended to provide exhaustive treatment of any subject dealt with on the website.

The information on this website including all research, opinions or other content is not intended to and does not constitute financial, accounting, tax, legal, investment, consulting or other professional advice or services. Ninety One does not act or purport to act in any way as a financial advisor or in a fiduciary capacity. Prior to making any decision or taking any action which might affect your personal finances or business you should take appropriate advice from a suitably qualified professional or financial adviser.

This website may include technical, typographical or other inaccuracies and you are urged to contact Ninety One to confirm all information contained on this website before placing any reliance on it. Changes are periodically made to the information on this website and these changes will be incorporated in new editions of this website. We reserve the right to alter or amend any criteria or information set out in this website without notice. If this website contains statements or information which relate to projections, plans or objectives or future economic performance you should be aware that these projections are only predictions and that actual events or results may differ materially. Representations and opinions are provided for information purposes only.

This website or any of its content may not be, in whole or in part, copied, modified, distributed, retransmitted, redistributed, or released to any third party. The user represents and warrants that it will not use or permit the use of the document or any of its content for any purpose other than authorised internal use and warrants that it will not, without the prior written consent of Ninety One, directly or indirectly redistribute, or knowingly facilitate redistribution of, all or any portion of the website or any of its contents.

Terms of use: Use of this website and copyright

The content of this website is owned by or licensed to Ninety One. You may retrieve and display pages from the website on a computer screen and may print individual pages and store pages in electronic form for your own personal, non-commercial use. The content of this website is protected by copyright and other intellectual property laws. All rights not expressly granted are reserved.

You must not use this website or any service offered by Ninety One (or any other person) on this website in a way which causes or may cause:

  • The website or the service offered to be interrupted, damaged or impaired;
  • Offence or detriment to any other person who uses this site or any services offered;
  • Ninety One, you or any other user of the website to be in breach of any applicable law or regulation;
  • Detriment to any person who supplies services to Ninety One in connection with this website.

If we consider that you are doing, or are likely to do, any of these things or in any other way are adversely affecting the site, its users, Ninety One or its suppliers, we may immediately suspend your use of this website and/or any services which you use.

No offer

No information or content contained on this website is to be used and/or construed and/or considered by you as an offer to sell and/or a solicitation of an offer to buy securities and/or any other financial instrument of any nature. All services offered by Ninety One are subject to completion (in the manner required) of the requisite application forms and other documentation and are governed by the relevant terms and conditions. Ninety One reserves the right in its absolute discretion without affording you any reason therefore to reject any application submitted for services contained on this site.

Transmission of information

Your attention is drawn to the fact that information transmitted via the internet may be susceptible to monitoring and interception. You will bear all risk of transmitting information in this manner. We will not be liable for any loss, harm or damage suffered by you as a result of transmitting information to us. We reserve the right to request independent verification of any information transmitted via e-mail.

Please be aware that any unsolicited confidential or proprietary information sent to Ninety One via the internet cannot be guaranteed to remain confidential. If you need to send such information to Ninety One and are concerned about the security of this information please contact us and we will advise you of the most appropriate method of transmission.

Limitation of liability

This website should only be used for information purposes. It does not provide advice and you should not rely on it to make (or refrain from making) any decision or take (or refrain from taking) any action. Ninety One is not responsible for the website's accuracy or its fitness for a particular purpose or the reliability of the access to this website.

Neither Ninety One, its affiliates, associates, directors, shareholders, agents, consultants or employees will be liable for any damages or losses resulting from your use of or inability to use this website or the information contained herein, including without limitation any direct, indirect, special, incidental consequential or punitive damages whether arising out of contract, statute, delict or otherwise. Ninety One does not guarantee that this website will operate free of error or defect or that it is free from computer viruses or any other contaminating computer program. We do not accept any liability for any acts or omissions resulting from your decision or opinion formed on the basis of your use of the website.

Hyperlinks; deep linking; crawlers and metatags

External hyperlinks may be provided for convenience. These web pages are beyond the control of Ninety One and no representation or endorsement is made as to their content.

No person shall be entitled to link a website or any web pages to any pages of this website without the prior written consent of Ninety One.

No person shall be entitled to send search-software (crawlers) to retrieve information from this website for reproduction or processing, in any manner or form, without the prior written consent of Ninety One.

No person shall be entitled to use Ninety One’s name or that of any of its proprietary products or services for purposes of metatagging without the prior written consent of Ninety One.

Use of software

Investors are required to use and maintain only hardware and software of sufficient quality and performance capability and to use only the specified makes and versions of internet browser software. Failure to use a specified browser may result in a higher security risk and/or cause some or all of the functionality of this website not to operate properly or at all and Ninety One shall not be held liable in this regard.

Software, if any, made available for download on or via this website shall be governed by license conditions establishing a legal relationship with the licensor. Investors indemnify Ninety One against any breach of such license conditions.

Ninety One gives no warranty and makes no representation, whether express or implied, as to the quality or fitness for purpose or use of such software.

No warranty, whether express or implied is given that any files, downloads or applications available via this website are free of viruses, or any other data or code which has the ability to corrupt or affect the operation of Investors systems.

Data protection and privacy

Any details which you provide to us from which we can identify you are held and processed in accordance with our Privacy Notice.

Changes to the terms

Ninety One may change this website or these terms at any time by posting notice of the changes on this website. If you use this website after we have posted the changes you will be bound by the new terms. You should therefore ensure that you read the terms each time you use this website.

Connected interests

Ninety One and any company or individual/s connected to it, including its directors and employees, may have an interest in any investment or service recommended in this or other Ninety One website.

World Wide Web

The content of this website is not directed to any person in any jurisdiction where (by reason of that person's nationality, residence or otherwise) the publication or availability of this website is prohibited. Persons in respect of whom such prohibitions apply must not access this website.


As we value your support as a client, we place a strong emphasis on maintaining a long-term relationship with you that is open, trustworthy, transparent and fair.

Ninety One has a formalised complaints procedure to ensure the issue is resolved timeously and to your satisfaction.

The complaints procedure is as follows:

  1. All complaints must be submitted in writing to ensure that we have the correct details and that the procedure is managed efficiently and effectively.
  2. Written acknowledgement of our receipt of your complaint will be sent to you within three working days.
  3. We undertake to evaluate all complaints equitably and will respond to your complaint as soon as we have completed our investigation.
  4. All written complaints received will be reviewed and dealt with in a professional and proficient manner.
  5. Every effort will be made to respond to your complaint within 20 working days.

For South Africa User:

We encourage institutional and retail investors to address complaints, queries, and concerns to us on:

Unit Trusts

Email: [email protected]
Postal Address: PO Box 1655 Cape Town 8000

Portfolio Products

Email: [email protected]
Postal Address: PO Box 651920, Benmore, 2010

E-mail: [email protected]
Fax: (021) 416 2001
Postal Address: PO Box 1655 Cape Town 8000

If a complaint is not resolved to your satisfaction, you are entitled to contact the relevant Ombud to adjudicate the matter. Depending on the product you are invested in, and the industry concerned, you may contact one of the following Ombuds offices.

The National Financial Ombud Scheme South Africa NPC (the NFO)

Postal Address: 110 Oxford Road, Houghton Estate, Johannesburg, Gauteng, 2198
Telephone: 0860-800-900
Email: [email protected]

The Ombudsman for Financial Services Providers

Address: PO Box 41, Menlyn Park, 0063
Telephone: 012 762 5000
Email: [email protected]

The Pension Funds Adjudicator

Address: PO Box 580,Menlyn, 0063
Telephone: 012 748 4000
Email: [email protected]

For Namibia User:

We encourage institutional and retail investors to address complaints, queries, and concerns to us on:

Ninety One Asset Management Namibia Pty Ltd

E-mail: [email protected]
Postal address: PO Box 3018, Windhoek, Namibia

Ninety One Fund Managers Namibia Ltd

E-mail: [email protected]
Postal address: PO Box 3018, Windhoek, Namibia
Telephone: +264 (0)61 389 500

If a complaint is not resolved to your satisfaction, you are entitled to refer the matter to Namibia Financial Institutions Supervisory Authority (“NAMFISA”) or take action through the courts. You may contact the Namibia Financial Institutions Supervisory Authority on:

Namibia Financial Institutions Supervisory Authority

Address: P O Box 21250, Windhoek, Namibia
Telephone: +26461 290 5134
Email: [email protected] or visit

For Botswana User:

We encourage institutional and retail investors to address complaints, queries, and concerns to us on:

Ninety One Asset Management Botswana Pty Ltd

E-mail: [email protected]

Ninety One Fund Managers Botswana Pty Ltd

E-mail: [email protected]
Postal address: PO Box 49, Gaborone, Botswana
Telephone: +267 318 0112

If a complaint is not resolved to your satisfaction, you are entitled to refer the matter to the Non –Bank Financial Institutions Regulatory Authority or take action through the courts. You may contact the Non – Bank Financial Institutions Regulatory Authority on:

Non – Bank Financial Institutions Regulatory Authority

Address: Private Bag 00314, Gaborone, Botswana
Telephone: +267 310 2595
Fax: +267 310 2376


We currently offer two levels of security to help safeguard your financial information:

  • Strong Encryption - All data sent to and from Ninety One is "scrambled" and "reassembled" whilst travelling between us and your personal computer. This helps to keep your personal and financial information confidential.
  • Your Ninety One ID Number and Internet PIN must be entered every time you try to access the transaction sections of the site.

i) Ninety One ID Number and Internet PIN

You will be issued an Ninety One ID Number and Internet PIN when you register to use the transaction and statement services on this website. These two items are always issued via two different communication channels, and generally we distributed the Ninety One ID Number by email and the Internet PIN by registered post. This adds extra security should anyone intercept either of these in any way, as they cannot be used independently of each other.

Your Internet PIN will always be shown coded when you type into your screen so that no one can see it.

You must keep your Ninety One ID Number and Internet PIN secret and must take all reasonable precautions to prevent the fraudulent use of it. You must never disclose your Ninety One ID Number and Internet PIN to anyone other than your joint account holder (if relevant). You should not use your Internet PIN for any other purpose. You should not write down your Ninety One ID Number and Internet PIN in a way which could mean they can be understood by someone else.

When accessing the services on this website, you should make sure that your Internet PIN will not be kept in any form (by browser or any other software) in such a way that other users of the same workstation can gain access to the site.

If you think that someone else may know your Ninety One ID Number and Internet PIN or has used them without your permission or if you have forgotten your password you should contact us immediately.

ii) General

We may send paperless messages (including e-mail) to the e-mail address you have given us. If you want to prevent others from reading paperless messages we send you, you must set up your own password protection on your system at home or work. You may not be able to prevent paperless messages being monitored at work.

You are solely responsible for establishing and applying adequate security systems and procedures in relation to your computer equipment, to prevent unauthorised use of the services on the Ninety One site and for monitoring use of the site in order to ensure that any person using the site is doing so within the limits of his authority.

If you have any questions regarding our security policy, please contact us, using the details provided on this website.

In South Africa, the Collective investment scheme funds has been approved by the Financial Sector Conduct Authority (FSCA) for promotion, distribution and soliciting investments from members of the public in South Africa, by Ninety One Luxembourg S.A. (as the manager) or any other person who is authorised as a financial services provider in South Africa.

The Fund is generally a medium to long-term investment. Past performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and investors may not get back the amount originally invested. Because of this, an investor is not certain to make a profit on an investment and may lose money. Exchange rates may cause the value of overseas investments to rise or fall. Collective investment schemes are traded at ruling prices and can engage in borrowing and scrip lending. Fund prices and Fund Offering documents including the Minimum Disclosure Documents may be obtained from

FAIS Disclosure