Legal Information
Transparency fosters trust. Below you may find our terms & conditions, complaints management, policies and regulatory disclosures, including sustainability-related disclosures.
Terms & Conditions
These terms and conditions determine the rules regarding the use of our website, including all services and content offered on and through this website. Please read them carefully in order to understand your rights and obligations.
Read the terms and conditions
1. Usage Permission
Flossbach von Storch Invest S.A., including its branches and offices (hereafter Flossbach von Storch), gives its revokable and non-transferable permission to the usage of its website. Permission is only given and contingent upon the consent to the terms and conditions, including the limitations mentioned therein. It is not allowed to disrupt the operation of this website or tamper with it.
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., asset or 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 semi-annual report, if the latter is published later than the most recent annual report. These documents may be obtained free of charge from the relevant investment fund manager or custodian bank, from paying agents, or from Flossbach von Storch - they can also be downloaded from this website.
The same applies to other investment products and the applicable sales documents.
Please bear in mind that the value of a financial investment can appreciate as well as depreciate. Investors must therefore be ready and able to accept losses on their invested capital. Past performance is not a reliable indicator of future performance.
3. Sales Restrictions
The information contained in this website is intended for investors only in countries/jurisdictions in which the funds have been approved for sale. The information is not intended for publication or use by persons or entities in a country where the funds are not permitted for sale. If documents are made available in English, this does not mean that a distribution license has been granted or applied for. Further details are available on request.
4. Important Notice for US Persons
The contents of this website, particularly the published documents and the information contained within, are not permitted for distribution or sale in the USA. Accordingly, the investment funds mentioned on this website, in particular, are not on offer in the USA to US citizens or US residents.
5. Forecasts
This website may contain forecasts. Although such forecasts may represent the views and future expectations of Flossbach von Storch, actual developments and results may differ substantially from such expectations. Flossbach von Storch 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 regularly checks and updates the information on this website. However, despite due care, the under 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 accepts no liability for losses of any kind arising from the use of content and information on this website.
Nor will Flossbach von Storch give any assurance that any function or content on this website is free of errors, 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 checked the linked website for illicit content and found none at that time. However, Flossbach von Storch 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. Any use of these websites is 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 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) 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 itself remains with Flossbach von Storch. 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. 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. The integration of Flossbach von Storch websites into a framework structure (frames) is permitted only after written agreement in advance from Flossbach von Storch.
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 explicit agreement to the contrary, Flossbach von Storch will not accept orders or instructions sent by email or other electronic messaging systems.
Flossbach von Storch is not liable either to you or to any other person for losses arising from messages sent by ordinary email or any other electronic messaging system.
When sending confidential information you are, thus, advised to use postal services.
10. Limits to Liability
The usage of this website is at your own risk. You are solely responsible for the consequences of such use and of any downloads of its contents.
Flossbach von Storch will accept no liability for 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
11. Miscellaneous
11.1. Applicable Law
Unless otherwise stated in a contractual agreement or due to conflict of law rules, these terms and conditions are subject to German/Luxembourg law.
11.2. Scope
The terms and conditions apply between the users of the website and Flossbach von Storch Invest S.A., as well as their legal successors, assignees and agents. Flossbach von Storch may assign rights emerging from these terms and conditions to third parties.
11.3. Availability of Website
Flossbach von Storch retains the right to change, suspend or ultimately terminate the operation of this website, including the services offered through the website, information, features or functionalities which can be accessed during the normal course of running this webpage. It further reserves the right to limit the usage of certain features, functions or services or to limit the access to parts of or the entire website without prior notice.
11.4. Transfer of Operations
Flossbach von Storch retains the right to transfer the operations of this website to third parties.
11.5. Amendments
Flossbach von Storch reserves the right to change or amend the terms and conditions. Before accessing our website, you should acquaint yourself with possible changes or amendments.
11.6. Contractual Arrangements
In case contractual arrangements deviate from the contents of those terms and conditions, the contractual arrangements shall take precedent.
11.7. Severability
If one provision or a part of a provision of these terms and conditions should be or become void, invalid or not enforceable, the lawfulness, validity, and enforceability of the other terms and conditions shall not be affected.
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Complaints Management
The satisfaction of our investors, clients and prospective clients, is our paramount objective. It is therefore important to us to give you the opportunity to express your criticism.
Clients may draft their complaint in the official language(s) of their country of residence. You may contact us via email or post under the following address:
Flossbach von Storch Invest S.A.
Complaints –
2, rue Jean Monnet
L-2180 Luxembourg
Luxembourg
Email: beschwerde@fvsinvest.lu
Further information on this procedure is available in the document “Complaints Procedure” at www.fvsinvest.lu .
You may also contact the Luxembourg supervisory authority for the financial sector (“CSSF”) for an out-of-court resolution of your complaint:
Commission de Surveillance du Secteur Financier
Legal Department CC
283, Arlon road
L-2991 Luxembourg
Email: reclamation@cssf.lu
Online Dispute Resolution Platform (EU)
For out-of-court dispute resolution of disputes in relation to online contracts, you can also refer the case to the online platform for dispute resolution of the European Union under https://ec.europa.eu/consumers/odr/.
Be advised that the online platform will be discontinued from July 20, 2025. New complaints may only be submitted until March 20, 2025.
Further information may be found under the link. The contact details that shall be given for FvS Invest S.A. are: beschwerde@fvsinvest.lu
The right to refer the case to a court is not affected by the dispute resolution procedure.
Additional Information for Investors of Investment Funds with a German ISIN
Investors who qualify as retail investors and are invested in funds with a German ISIN also have the right to call the “Ombudsstelle für Investmentfonds des BVI” (Ombudsman’s Office for Investment Funds of the BVI). Retail investors are natural persons who do not invest in an investment fund as part of their economic activity (trade, business craft or liberal profession), but as a private person. Disputes are resolved by an impartial arbitrator within the framework of dispute resolution. Arbitration requests can be addressed by mail, fax or email to:
Büro der Ombudsstelle des BVI, Bundesverband Investment und Asset Management e.V.
Unter den Linden 42
10117 Berlin
Germany
Phone: +49 030 6449046-0
Fax: +49 030 6449046-29
Email: info@ombudsstelle-investmentfonds.de
Further information is available under www.ombudsstelle-investmentfonds.de. Please also consult the document “Complaints Procedure for Investment Funds Domiciled in Germany” in the policies section.
Collective Legal Action for Retail Investors in Germany
Investors that qualify as retail investors residing in Germany may in certain instances also have the right to participate in a representative action, such as a model declaratory action, pursuant to the Consumer Rights Enforcement Act (“VDuG”).
Regulatory Disclosures
Here you can find our current regulatory reports, such as the Active Ownership Report, list of sub-custodians and client information documents.
Sustainability-Related Disclosures
Here you will find information on strategies for dealing with sustainability risks and potential or identified adverse sustainability impacts.
PRELIMINARY REMARK
Regulation (EU) 2019/2088 ("Disclosure Regulation" or "SFDR") requires financial market participants, including investment firms providing portfolio management services, UCITS management companies and alternative investment fund managers, to disclose information for increased transparency, including in relation to sustainability risk management strategies and potential or identified adverse sustainability impacts.
ARTICLE 3 OF THE SFDR: TRANSPARENCY IN THE STRATEGIES FOR DEALING WITH SUSTAINABILITY RISKS
Through the fundamental approach of ESG integration, the group-wide defined exclusions and the consideration of sustainability risks, Flossbach von Storch fulfils the fiduciary duties in the best possible way to appropriately classify potential risks (and opportunities) of investment decisions.
ESG factors are considered in depth in the proprietary evaluation and assessed for opportunities and risks. Each of the three factors (E, S and G) is considered from the perspective of a long-term investor to ensure that none of the aspects lead to a potential conflict of interest of long-term value creation. Sustainability risks are environmental, social or governance events or conditions that, if they occurred, could have an actual or potential material adverse effect on the value of an investment. Sustainability risks can have a significant impact on other risk types, including, for example, general price risk, operational risk, liquidity risk, currency risk, and contribute as a factor to the materiality of these risk types.
The analysis process also includes the examination of reputational risks as well as climate-related physical risks and transition risks, which can have a direct and indirect impact on the value of a company. The following points, amongst others, can be named as exemplary standards with regard to the ongoing analysis of target investments:
Are climate-related physical and transition risks that may affect the business model sufficiently monitored and taken into account in the company's long-term direction?
Are sufficient measures taken to address sustainability risks that have a significant impact on the company's reputation and can have a lasting effect on the value of the investment if there is a loss of confidence?
Within the framework of the multi-level analysis, special attention is paid to good corporate governance with integrity, which is important for the sustainable development of the company. This increases a company's long-term prospects for success and can only be achieved by taking ecological as well as social factors into account. The following points, amongst others, can be named as exemplary standards:
Does the company's management properly and sufficiently take into account ecological, social and economic framework conditions?
Do the employed managers of the target company act like responsible and sustainable owners?
ARTICLE 4 OF THE SFDR: TRANSPARENCY OF ADVERSE SUSTAINABILITY IMPACTS AT THE COMPANY LEVEL
The Flossbach von Storch Group takes into account the main adverse impacts of investment decisions on sustainability factors in accordance with Article 4 (1a) of the Sustainable Finance Disclosure Regulation (SFDR). The main adverse impacts are identified, prioritized and assessed as part of the in-house analysis process using specific ESG analyses, which are prepared individually for invested issuers/guarantors and accounted for in the risk/reward profile of the company analyses.
The principal adverse impact indicators (PAIs) are prioritized according to relevance, severity of negative impacts and data availability. The assessment is not based on rigid bandwidths or threshold values that companies must comply with or achieve; instead, attention is paid to a positive development in dealing with the PAI indicators.
As part of the participation policy, efforts are made to reduce particularly negative impacts, including in the indicators of greenhouse gas emissions Scope 1 & 2, energy consumption from non-renewable energy sources, and serious violations of the UN Global Compact Principles and OECD Guidelines for Multinational Enterprises. This means that if one of the companies does not deal adequately with the indicators identified as particularly negative, this is addressed with the company and attempts are made to work towards a positive development.
If the management does not take the necessary steps for improvement to a sufficient extent, the voting right is exercised in this respect or the investment is sold.
In addition, exclusions, such as the manufacture and/or distribution of controversial weapons and the mining and/or distribution of coal, can contribute to a reduction or avoidance of individual adverse sustainability impacts.
Flossbach von Storch also supports the growing importance of sustainability in the financial sector. In order to emphasize the importance of the topic, the Flossbach von Storch Group observes the following recognized standards: Principles for Responsible Investment (PRI); BVI Bundesverband Investment und Asset Management e. V. (BVI); CDP. V. (BVI); and CDP. The standards are selected after individual consideration and the determination that they are in line with the in-house investment strategy.
As part of the in-house ESG analysis, care is taken to ensure that companies take a responsible approach to their environmental and social footprint. In the view of the Flossbach von Storch Group, this includes setting climate targets and complying with recognized international value standards. A particular focus is placed on the following standards, which are directly related to the focused PAIs: UN Global Compact Principles & OECD Guidelines (PAIs 10 & 11) and Paris Climate Agreement (Table 1 PAIs 1-6, Table 2 PAI 4).
Detailed information on this can be found under Downloads.
In its activities as a financial advisor and portfolio manager with regard to the Flossbach von Storch private equity funds, Flossbach von Storch does not take any adverse effects on sustainability factors into account. This also applies to Flossbach von Storch's activities as a financial advisor to external private equity funds.
The data relevant to the target investments of the Flossbach von Storch private equity funds and external private equity funds, which must be used to determine and weight the adverse sustainability impacts, are currently not available on the market, or not available to a sufficient extent. As soon as the availability of data for the aforementioned target investments has improved, Flossbach von Storch intends to take the most important adverse impacts into account as part of its investment and investment advisory activities.
ARTICLE 5 OF THE SFDR: TRANSPARENCY OF REMUNERATION POLICY IN RELATION TO THE CONSIDERATION OF SUSTAINABILITY RISKS
The Flossbach von Storch Group's strategies for incorporating sustainability risks are also incorporated into the company's internal organizational guidelines. The adherence to these guidelines is decisive for the evaluation of employee performance and thus has a significant influence on future salary development. In this respect, the remuneration policy is in line with the strategies for the inclusion of sustainability risks.
ARTICLES 8, 10, 11 OF THE SFDR: TRANSPARENCY IN THE PROMOTION OF ENVIRONMENTAL OR SOCIAL FEATURES
If a financial product is classified as an Article 8 product pursuant to the SFDR, relevant information about the environmental and social characteristics will be available from the relevant subpage of the financial product on the website.
Status : 15/10/2024
Policies
We emphasize transparency and integrity. Our policies reflect our commitment to the highest standards in all areas of our business.