Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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JPMorgan Flem.Claver (JCH)

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Wednesday 21 January, 2004

JPMorgan Flem.Claver

Legal Action

JPMorgan Fleming Claverhouse IT PLC
21 January 2004

                       LONDON STOCK EXCHANGE ANNOUCEMENT

              JPMORGAN FLEMING CLAVERHOUSE INVESTMENT TRUST PLC


AITC AND JPMORGAN FLEMING CLAVERHOUSE INVESTMENT TRUST INITIATE LEGAL ACTION ON
VAT TREATMENT OF MANAGEMENT FEES



The Association of Investment Trust Companies (AITC) and JPMorgan Fleming
Claverhouse Investment Trust plc have jointly launched a legal test case against
HM Customs and Excise to challenge whether VAT should be charged on the
management fees of investment trusts.



Daniel Godfrey, Director General of the AITC said: 'The Government's continued
refusal to grant investment trusts the same VAT exemption as that accorded to
unit trusts and OEICs is contrary to the European Union's Sixth VAT Directive.
This discrimination costs the shareholders of investment trust companies £30
million a year and is the reason why we have launched this case.'



Ron Sandler recognised this discrimination in his Review of Retail Savings and
recommended that the Government level the playing field.  'We were very
disappointed that, following subsequent consultation, the Government has failed
to act.  Whilst we would have preferred a political solution, we cannot wait
forever whilst our Members and their shareholders suffer from the wrongful
application of VAT and the time has now come to challenge this through the legal
process.'



Robert Walther, Chairman of the JPMorgan Fleming Claverhouse Investment Trust
plc said: 'VAT on management fees costs our shareholders in excess of £300,000 a
year, a cost the company would not have to bear if it were a unit trust or OEIC.
  This is undoubtedly unfair and we are working with the AITC to secure an
exemption from VAT for the long-term benefit of our shareholders.'



The discrimination against investment trusts stems from the way the Government
has interpreted European legislation.  Under the Sixth VAT Directive 'special
investment funds' are entitled to an exemption from the VAT that they would
otherwise pay on the costs of outsourcing their management services.  The UK
Government has interpreted this entitlement in a way that means that unit trusts
and OEICs are currently eligible for this exemption, yet despite carrying out
essentially the same activities and competing in the same markets, investment
trusts do not receive the same tax exemption.



Ron Sandler's Review into Retail Savings recommended that this VAT inconsistency
for investment trusts should be removed and stated that the VAT treatment of
investment trusts, along with other tax distortions, confused consumers and
restricted competition.



21st January 2004



For further information please contact:

Jonathan Latter
J.P. Morgan Fleming Asset Management (UK) Limited - Secretary
Telephone: 020 7742 6000


                      This information is provided by RNS
            The company news service from the London Stock Exchange