Terms and Security

Use of this web site

Please read with care, the terms and conditions of this Important Information section. By accessing this web site or any other of Schroders’ web sites and the pages thereof, you are indicating that you have read, acknowledged and agreed to be bound by the terms and conditions of this Important Information section. As used herein, Schroders means Schroders plc or any of its subsidiaries or affiliates within the Schroders Group.

The information herein is current at the date of publication but is subject to change without notice. You should review this Important Information section regularly, as your continued use constitutes agreement to all such changes.

As you navigate between different pages on Schroders’ web sites, you will interact with different entities in the Schroder Group. The specific entity responsible for the content of a web page is shown on each web page. The Important Information section may be different for each of these entities.

Schroders plc is the parent company of the Schroder Group of companies. For more information about the Schroder Group, please visit the About Schroders web pages.

Products and services

The information contained herein is current at the date of publication, but is subject to change without notice. Schroders has expressed its own views and opinions in this web site, and these may change.

This web site is not directed at you if we are prohibited by any law of any jurisdiction from making the information on this site available to you and is not intended for any use that would be contrary to local law or regulation. None of the information contained on this web site is intended to constitute any offer to sell or an invitation or solicitation of an offer to buy any product or service by Schroders and must not be relied upon in connection with any investment decision.

Products or services mentioned on this site are subject to legal and regulatory requirements in applicable jurisdictions and may not be available in all jurisdictions. Accordingly, persons are required to inform themselves of and observe any such restrictions. Nothing in this web site should be construed as investment, tax, legal or other advice.


The investment products and services described in the web site may have tax consequences. You should consult your own tax advisor in order to understand the tax consequences of the products and services described in the web site.


The copyright and all other rights in all of the material on this web site are owned by the company listed on the web page, or the material is included with the permission of the rights owner. The information contained in this web site is intended solely for the use of the person who has accessed this information and may not be reproduced, distributed or published to any other person.

You may copy material on this web site for your own private or domestic use only. All other copying is prohibited. Schroders and other company and brand names of its subsidiaries and affiliates used in this web site are registered trademarks.


While Schroders seeks to ensure that the information on this web site is accurate and complete at the date of publication, Schroders does not warrant the adequacy, accuracy or completeness of this information and does not accept any liability arising from any inaccuracy or omission in or the use of or reliance on the information on this web site. Nothing in this Important Information section shall restrict or exclude any liability that Schroders has to any party that cannot be excluded by law.

You are advised to verify the accuracy of any information before relying on it. Schroders will not assume any liability for any loss or damage of any kind arising, whether direct or indirect, caused by the use of the information provided.

Links to other web sites

On this web site, you may be offered automatic links to other non-Schroders web sites, which we hope you will be interested in. These links are provided only as convenience. Schroders does not accept any responsibility for the content of those web sites or your use or inability to use such web sites, the owners of which do not necessarily have any link, commercial or otherwise, with Schroders. The inclusion of any link does not imply affiliation, sponsorship, endorsement, verification or monitoring, or approval by Schroders of any information contained in any non-Schroders web site.

You should also be aware that the terms and conditions of such web site and the web site’s statement relating to the collection and use of your personal information may be different from those applicable to your use of this web site.


Schroders’ web sites use "cookies" for collecting user information from certain pages of the web sites. By "cookie," we mean the small text file that is stored on the hard disk of a computer by the web browser on a computer. It contains information sent by the web server of the web site that a user has visited. A cookie identifies users and can store information about them and their use of a site.

Schroders uses cookies to keep track of user activity and to store a user’s username and password to allow the user access to some of its protected web sites. The information derived from cookies enables Schroders to identify which areas of the web site are more interesting so that we can improve our web sites and the information we provide to users.

A user can choose not to accept certain cookies by turning this feature 'off' within the browser settings; however doing this may detract from 'user experience' of certain web sites or even prevent access to some of our web sites.

Privacy statement

For information relating to the collection and use of your personal information please click the "Privacy Policy" links at the top or bottom of this page.


This web site is provided for your use AS IS, without any warranties (whether express or implied) of any kind, including, but not limited to, the warranty of non-infringement of third party rights or freedom from computer virus. As a result, Schroders does not accept any ongoing obligation or responsibility in respect of any errors, omissions, interruptions or delays in service that may occur. The internet is not a secure medium of communication unless the data being sent is encrypted. Schroders cannot accept any responsibility for unauthorised access by a third-party or the corruption of data sent to it.

Governing law

If for any reason a court of competent jurisdiction finds any provision of this Important Information section unenforceable, that provision shall be enforced to the maximum extent permissible, and the remainder of the Important Information shall continue in full force and effect. This Important Information section constitutes the entire agreement between Schroders and you with regard to this web site and it supersedes all prior or contemporaneous communications, agreements and understandings between Schroders and you with respect to the subject matter hereof.

The Fund is a closed-end investment product. Common shares of the Fund are only available for purchase/sale on the NYSE at the current market price. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Performance data quoted represents past performance. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
All Investments, domestic and foreign, involve risks including the risk of possible loss of principal. The market value of a fund's portfolio may decline as a result of a number of factors, including adverse economic and market conditions, prospects of stocks in the portfolio, changing interest rates, and real or perceived adverse competitive industry conditions. In addition, the Fund invests in restricted securities and other investments that may be illiquid, which hold the risk that the securities will not be able to be sold at the time desired by the Fund. The Fund is classified as "non-diversified" under the 1940 Act. A non-diversified fund has the ability to invest more of its assets in securities of a single issuer than if it were classified as a "diversified" fund, which may increase volatility.
Trading in Swiss equities involves certain risks and special considerations not usually associated with investing in securities of established U.S. companies, including risks related to the nature of the market for Swiss equities, including the risk that the Swiss equities markets may be affected by market developments in different ways than U.S. securities markets and may be more volatile than U.S. securities markets; political and economic risks with respect to Switzerland, including the possible imposition of, or changes in, currency exchange laws or other Swiss laws or restrictions applicable to investments in Swiss equities; and fluctuations in the rate of exchange between currencies and costs associated with currency conversion. The Swiss securities markets have substantially less trading volume than the U.S. securities markets. Additionally, the capitalization of the Swiss securities markets is highly concentrated. Securities of some companies located in Switzerland will be less liquid and more volatile than securities of comparable U.S. companies. This combination of lower volume and greater concentration in the Swiss securities markets may create a risk of greater price volatility than in the U.S. securities markets.
The market price of common shares of the Fund will be based on factors such as the supply and demand for common shares in the market and general market, economic, political or regulatory conditions. Whether shareholders will realize gains or losses upon the sale of common shares of the Fund will depend on the market price of common shares at the time of the sale, not on the Fund’s net asset value. The market price may be lower or higher than the Fund’s net asset value. Shares of closed-end funds frequently trade at a discount or premium to their net asset value.
Schroder Investment Management North America Inc. ("SIMNA Inc.") is an investment adviser registered with the U.S. SEC.