Legal Information


This website ( (the “Website”) is maintained and operated by Fulcrum Asset Management LLP (“Fulcrum”), registered in England No. OC306401. Registered office: Marble Arch House, 66 Seymour Street, London, W1H 5BT. Fulcrum is authorised and regulated by the Financial Conduct Authority of the United Kingdom (“FCA”) under registration number 230683.



This section provides important information to the use of Fulcrum’s Website By accessing and using this Website you agree to the following terms and conditions (the “Terms”). We reserve the right to modify the Terms at any time.

Should you have any feedback in connection with any communication provided on the Website please contact us as set out in the “Contact Us” section below.

  1. Restricted Access

The information contained in this Website and in respect of any unregulated alternative investment funds (“Funds”) referred to:

(i) is only available to persons who are either (a) a professional client or eligible counterparty[1] for the purposes of the rules and guidance of the FCA, (b) are a professional investor under EU Directive (2014/65(EU) or (c) (and subject to 1(ii) below), accorded a similar or equivalent status as 1(i)(a) or (b) under appliable regulations in their country or residence; and


(ii) should only be accessed by persons located in a jurisdiction or country where access to such information is not contrary to local law and regulation.


Fulcrum makes no representations that materials on this Website are appropriate for use in all locations, or that transactions, securities products, instruments or services discussed on this Website are available or appropriate for sale or use in all jurisdictions, or by all investors or counterparties. It is the responsibility of persons accessing this Website to inform themselves of, and act in accordance with, all legal and regulatory requirements in their jurisdiction of citizenship, residence or domicile. Fulcrum disclaims all responsibility if persons access the Website, or the information on it, contrary to such legal and regulatory requirements.


By clicking ‘accept’ you agree to proceed and access the Website, and are deemed to confirm that:

(i) You are permitted to access this website on the basis that you are a professional client or an eligible counterparty, professional investor or similar/equivalent in your country of residence;


(ii) You have read and accepted these Terms;


(iii) You understand that this Website contains information about Funds which may not be available to investors in your jurisdiction;


(iv) You are accessing this Website on an unsolicited basis, at your own initiative and in compliance with (a) the laws and regulations of the jurisdiction or country in which you are residing, and (b) all applicable sales restrictions in the country in which you are residing; and


(v) You are undertaking, warranting and representing that you are not causing Fulcrum to breach any applicable restrictions by you accessing the Website.

If you have any doubts about your status, you must not access this Website.



  1. No offer or Solicitation

The content of this website is for general information purposes only and does not constitute an offer or solicitation to buy or sell any security or related financial instrument to any person. Any decision to purchase securities or interests with respect to any of the Funds or products described on this Website must be based solely upon the information contained in the relevant prospectus. offering memorandum and supplemental documentation.  The website does not allow visitors to make investments in any of the Funds or products. If you require additional information, please contact appropriate Fulcrum personnel as set out in the “Contact Us” section below.


  1. No Advice

The Website is not intended and Fulcrum does not provide investment, accounting legal or tax advice to its clients.  Investors should inform themselves and take appropriate advice as to any applicable legal requirements and any applicable taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant to the subscription, purchase, holding, exchange, redemption or disposal of any investments.


  1. Accuracy of content on the Website

While Fulcrum shall use reasonable efforts to obtain information from sources which it believes to be reliable and to ensure that the information in this Website is up to date and accurate, Fulcrum makes no representation, warranty or undertaking that the information or opinions contained in this Website are accurate, reliable or complete. The information and opinions contained in this Website are provided by Fulcrum for personal use and information purposes only. The information is inherently subject to change without notice and may become outdated. You are solely liable for any use you may make of this information. You, therefore, should verify any information obtained from this Website before you use it.


  1. Third-party links available on our website

From time to time, Fulcrum may make available links to third party websites or resources over which it has no control. Such links to external websites are for your convenience only and Fulcrum has not reviewed any such unaffiliated websites linked to this Website. If you opt to access any of these links, you will be leaving our Website (i.e. and since we do not have any control over these third-party websites, we are not responsible for the content, advertising, products or services available from them, or for any dealings or disputes that you may have in relation to those websites. Fulcrum is not liable for any loss or damage which may be suffered as a result of the use of such links and third party websites. Fulcrum makes no representation whatsoever about the opinion of any third party appearing on a linked website, neither monitors for regulatory purposes nor has control over the contents of such websites, and does not endorse, and disclaims all responsibility for, the contents of such information or websites. We would encourage you to review the terms and conditions and privacy policy on any such website you may choose to access and confirm that our Terms and privacy policy will no longer be applicable in respect of any such access.


  1. Communications on Market Commentary and/or forward looking statements available on Website

6.1 Market commentary and insights

Certain communication produced and made available by Fulcrum are deemed as non-independent research. Such communications have not been prepared in accordance with legal requirements designed to promote the independence of investment research, and are not subject to any prohibition on dealing ahead of the dissemination of investment research.


Fulcrum defines market commentary and insights consisting of illustrative, critically educational explanatory notes written to discuss or equally support an article or other presentation previously published as marketing communication. Such communications are also considered to be a minor non-monetary benefit (‘MNMB’) under Directive 2014/65/EU on Markets in Financial Instruments Directive (‘MiFID II’) [as transposed into United kingdom law]. Fulcrum defines MNMBs as documentation relating to a financial instrument or an investment service which is generic in nature and may be simultaneously made available to any investment firm wishing to receive it or to the general public. Such information may have been disseminated in conferences, seminars and other training events on the benefits and features of a specific financial instrument or an investment service provided by Fulcrum.


6.2 Forward Looking statements

Communication made available on the Website could include forward-looking statements, such as prospects or expectations, that are based on management’s current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements.  When used herein, the words “anticipate”, “believe”, “could”, “estimate”, “expect”, “going forward”, “intend”, “may”, “ought to”, “plan”, “project”, “seek”, “should”, “will”, “would” and similar expressions, as they relate to the  Fulcrum or its managed Funds are intended to identify forward-looking statements. These forward-looking statements reflect Fulcrum’s view at the time such statement were made with respect to future events and are not a guarantee of future performance or developments. 


Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Fulcrum does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Fulcrum and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements or for any related damages.


  1. Risk Notice

Investments in all funds and hedge funds, including Funds managed by Fulcrum are speculative and involve a high degree of risk and are intended only for experienced and sophisticated investors. Investment in a Fund may expose an investor to a significant risk of losing all of the property, capital or other assets invested. You therefore may lose some or all of the amount you choose to invest.


Past performance is not and should not be seen as an indication of future results and as such it is not a reliable indicator of future results. Investments in the Funds all involve risk.


Other factors are also to be considered prior to making an investment. Changes in exchange rates between the base currency and currency in which the investments are held may also cause the value of interests to decrease or increase. Tax assumptions may also change if the law changes and the tax treatment applicable to you will depend on your individual circumstances and may be subject to change in the future.  You should consult your own tax adviser in order to understand the tax consequences of an investment in a Fund or product.


The risk factors set out above are not, are not intended to be, complete and you must refer to the relevant offering documents with respect to the risks attaching to investment in individual Funds. The Website should not be relied upon as including sufficient information to support any investment decision.


All the opinions, forecasts, estimates and comparable information given in this Website are the non-binding opinions of our research personnel and neither Fulcrum nor any of its officers and/or employees and affiliates makes any guarantees, representation or warranty, nor does any person accept any responsibility or liability for any loss or profit, indirect or other consequential losses or other economic losses suffered by any person arising from reliance upon any information, statement or opinion contained in this Website (whether such losses are caused by the negligence of such person or otherwise.)


  1. Intellectual Property and Copyright

Fulcrum owns and maintains the Website and unless stated otherwise, , the content, information, materials, logos and images contained in the Website (including without limitation the screen displays, the content, the text, graphics and look and feel of the Website) are the property of Fulcrum. The contents of the Website may only be used for personal reference and may not be reproduced or redistributed to any other person or body without Fulcrum’s prior written consent. All information on the Website (unless stated otherwise) is considered confidential information and by accessing this website you agree not to copy, republish or redistribute any of the content or disclose it to any third parties.  Any permitted downloading or other copying from the Website will not transfer title to any software or material to you. Any unauthorised reproduction or use of the Website or the information presented therein may be the subject of prosecution, particularly for infringement of copyright.


  1. Material non-public information

Fulcrum has a no wall-crossing policy i.e., it does not wish to receive any material non-public price sensitive information in connection to issuers of securities.


  1. No Warranties And Exclusion Of Liability

Fulcrum and its employees, directors, officers or agents, hereby disclaim to the fullest extent permitted by law all warranties with respect to the Website. The Website is provided “as is” and “as available”.  Fulcrum disclaims all representation and warranties, express or implied, of any kind with respect to the Website including (without limitation) warranties of merchantability, fitness for a particular purpose and non-infringement of intellectual property and propriety rights. Without limiting this general disclaimer, Fulcrum does not warrant the availability, accuracy, completeness, timeliness, functionality, reliability sequencing or speed of delivery of the Website or any part of the information contained on the Website.


Fulcrum and its employees, directors, officers or agents, hereby disclaim to the fullest extent permitted by law all liability for any loss or damage including any direct, indirect, special, punitive or consequential damages, losses, costs or expenses incurred by you, whether arising in tort, contract or otherwise, and arising out of or in connection with your access to or use of, or inability to use, the Website or use of any information on the Website, including, without limitation, any loss of profits, business interruption, loss of programs or data on your equipment, or otherwise, even if Fulcrum is expressly advised of the possibility or likelihood of such damages.


  1. Indemnity

By accessing the Website, you agree to indemnify, defend, and hold harmless Fulcrum, its affiliates and licensors, and the officers, partners, employees, and agents of Fulcrum and its affiliates and licensors, from and against any and all claims, liabilities, damages, losses, or expenses, including reasonable legal fees and costs, arising out of or in any way connected with your access to or use of this Website and the information contained on the Website.


  1. Privacy, Data Protection And Use Of Cookies

Fulcrum is committed to safeguarding the personal information which you may provide to it through this Website and to the extent that any personal information is collected, it will be held in confidence in accordance with relevant data protection law, including the Data Protection Act 2018, as amended by the Data Protection, Privacy and Electronic Communications (Amendments etc) (EU Exit) Regulations 2019.) [Please refer to our Data Privacy Notice, available on our Website, which describes which data we are collecting, how it is used, and what your rights are with respect to your data. It also clearly states who you should contact if you want to exercise your rights under or have any questions with respect to GDPR how it is applied within Fulcrum.]


  1. Governing Law

You agree that your use of the Website and any dispute arising from the use of this Website (whether contractual or non-contractual) is governed by and shall be construed in accordance with the laws of England and Wales and you submit to the exclusive jurisdiction of the English courts.


For the avoidance of doubt, if you access the Website from outside the United Kingdom you are responsible for ensuring compliance with local laws relating to access to the Website.



You can contact Fulcrum at:

Email: [email protected]

Telephone:  +44 (0)207 016 6450

Address: Fulcrum Asset Management LLP, Marble Arch House, 66 Seymour Street, London, W1H 5BT

[1] Definitions of these terms can be found at: