Disclaimers and Disclosures

Important Information

The disclosures, disclaimers and matters set out below and any specific instances of disclaimer or disclosure relating to any particular security or securities apply to all contents of this website, from time to time, past, present and future, and to any and all emails despatched by or on behalf of Russell Research Pty Ltd to any persons subscribing to or in any way receiving any such emails or accessing the website services or any parts of them from time to time.

Confidential

This document is for the confidential use of the recipients only and is not to be reproduced without the authority of Russell Research Pty Ltd.

Disclaimer

The persons involved in or responsible for the preparation and publication of this report believe that the information herein has been obtained from reliable sources and that any estimates, opinions, conclusions or recommendations are reasonably held at the time of compilation. No warranty is made as to the accuracy of the information in this document and, to the maximum extent permitted by law, Russell Research Pty Ltd and its directors, officers and associates (collectively "Russell Research") disclaim all liability for any loss or damage which may be suffered by any recipient through relying on anything contained or omitted from this document.

General Advice

The content is of a general nature and is based on a consideration of the securities alone, and as such is conditional and must not be relied upon without advice from a securities adviser as to the appropriateness to you given your individual investment objectives, financial situation and particular needs. Whilst this document is based on information and assessments that are current at the date of publication, Russell Research has no obligation to provide revised assessments in the event of new information or changed circumstances.

Disclosure

Directors of Russell Research or other associates may own securities in companies included in and reported on this website and in associated emails to Members. Russell Research may seek to do advisory work with companies Russell Research researches. As a result, investors should be aware that Russell Research may have a conflict of interest that could affect the objectivity of this report.

Refer below to the section on Specific Disclosures.

Further Notes:

Specific Disclosure is required and will be provided in the event of any commissioned research or any fee or other benefits being received within the last 24 months or anticipated from a company mentioned in the research.

In the event of restricted research, a clause may be required and provided under ‘Confidential’ to such effect as: This document is intended solely for the confidential use of wholesale or institutional clients within the meaning of section 761G of the Corporations Act 2001 (Cth) (‘Act’), sophisticated investors pursuant to section 708(8) of the Act and/or otherwise persons to whom a disclosure document is not otherwise required to be given under Chapter 6D of the Act.

Alternative / Additional Disclosure for the website and/or in emails may be considered on a case by case basis, using such as:

This website [or email] and all [or the designated] content within it has been prepared solely for the purpose of information and analysis and is for the use of the recipient[s] only. It does not, and is not intended to, constitute an offer or invitation to any person to buy or sell any interest or security or to deposit monies with any person. None of this document or its contents is to be reproduced, transmitted or made available to any person other than the recipient[s]. The information herein has been prepared and is given in good faith and has been prepared from published information and other sources believed to be reliable at the date of preparation. Such specific disclosure advice would repeat the General Advice not Personal Advice points above and all appropriate disclosures and disclaimers.

None of Russell Research, its directors, officers or associates guarantees the performance of any of the securities mentioned herein. Past performance is no guide to the future. Russell Research makes no representation and takes no responsibility as to the accuracy or completeness of any information on this website [ / in this email].

This website and the recommendations given herein are explicitly

  1. directed at the subscribers to the online services of Russell Research Pty Ltd and are intended purely as General Research and Advice and NOT AS Personal Advice. The research is given as general background on the companies concerned and no knowledge can be assumed of the particular objectives or needs of any recipient.

  2. As such all recommendations contained in this website and any related emails sent out by Russell Research Pty Ltd are conditional and must not be relied upon without advice from a securities adviser as to the appropriateness to you given your individual investment objectives, financial situation and particular needs.

  3. The research is provided for Australian residents and is not to be taken as any recommendation to any overseas residents, whether in the United States of America or other territories, to subscribe for or take up any public or restricted offer of securities.

Specific Disclosures:

No specific disclosures apply to any of the companies mentioned or listed in this website current from 19 January 2012. The general disclosure applies that associates of Russell Research may and do have small holdings in a number of the company securities included in and reported on this website and vary those holdings from time to time.

Financial Services Guide

Russell Research is not currently licensed to and does not provide or aim to provide, any financial advisory services.

Previously, Russell Research had been granted AFS Licence No. 410053 on 19 January 2012 and carried on business, including this website, from then until it arranged for the cancellation of that AFS Licence on and from 17 January 2014.

With effect from 18 January 2014, Russell Research Pty Ltd was appointed as Authorised Representative No. 451813 of Phillip Capital Limited AFSL 246827. By mutual consent, Russell Research and Phillip Capital agreed to discontinue this arrangement in the early part of 2017.

Since then, Russell Research and Peter Russell have had no active clients and neither of them has carried out any of the services of or claimed or held out to be an Authorised Representative or AFS Licensee.

____________________

Previously, Russell Research had been granted AFS Licence No. 410053 on 19 January 2012 and carried on business, including this website, from then until it arranged for the cancellation of that AFS Licence on and from 17 January 2014.

Thus with effect from 18 January 2014, until further notice [in March 2017], Russell Research is [was] authorised to carry out the following services as an Authorised Representative of Phillip Capital Limited:

Provide general financial product research on ASX listed companies for the following classes of financial products: (i) securities; (ii) derivatives; and (iii) interests in managed investment schemes excluding investor directed portfolio services; to retail and wholesale clients.

This means that clients of such Russell Research services may contact, and make any relevant complaint to, Phillip Capital Limited, in addition to advising Russell Research of any problems and queries they may have over such services, recognising that Russell Research only provides general advice and not personal advice.

Phillip Capital's Financial Services Guide ('FSG') may be accessed directly from Phillip Capital at www.phillipcapital.com.au, or PhillipCapital Limited, Level 12, 15 William Street, Melbourne VIC 3000 Australia. Note that Phillip Capital, one of Asia's leading financial institutions with a global reach extending into Europe, North America and Australia, offers full service and online broking and thus its FSG covers a far wider range of services than than those of Russell Research.

Russell Research advises that neither Phillip Capital nor Russell Research has any continuing responsibility for advice. These notes remain here as historic background only as no further general advisory business was or will be undertaken.

Outline of Our Services

This outline of our services applies from 18 January 2014. It is designed to provide you with important information prior to subscribing to or purchasing our information and research. If you need any more information than is contained in this document please contact us. You have the right to ask us about our charges, the type of advice we will provide you, and what you can do if you have a complaint about our services.

Important: Russell Research provides only general advice, focused on a selection of ASX-listed securities. We do not offer any financial products for sale.

Who will be providing the financial service to me?

Russell Research Pty Ltd ("Russell Research")
ABN: 55 150 095 426
Authorised Representative No. 451813 of Phillip Capital Limited AFSL 246827

Principal Place of Business and Postal Address:
27 Urquhart Street, Northcote, Victoria 3070

Email: info@russellresearch.com.au

What kinds of financial services are you authorised to provide me and what kinds of products do those services relate to?

Russell Research is authorised by Phillip Capital Limited to offer you the following research services:

Provide general financial product advice to retail and wholesale clients – on Securities only, together with Managed Investments and Derivatives as alternatives to ordinary share investments.

We provide this advice through our email and newsletter publications and our website. We do not provide any facilities for buying or selling securities or for taking, handling or investing any client monies.

Please note that all our publications provide general advice only. This is an important consideration and means that the advice does not take into account the particular investment objectives, financial situation and particular needs of any individual investors. It is a general information service only. You should assess whether it is appropriate to you in light of your own individual investment objectives, financial situation and particular needs. If necessary or appropriate, you should consult with a licensed investment adviser or stockbroker before making any investment decision.

How will I pay for the service?

Russell Research operates a subscription based business. When you subscribe you will be required to pay a fixed fee related to the length of the subscription period. No other fees or commissions are charged on our research services. Some of our email and newsletter publications and our website content is provided more widely, without charge, for publicity purposes.

Do you receive remuneration, commission, fees or other benefits in relation to providing the financial services to me and how is that commission calculated?

Russell Research and its employees receive income from the sale of subscriptions. Income may also be received for consulting advice and services that may be provided to licensed financial and investment advisers and stockbrokers; in such a case, the adviser may pay us a negotiated bulk subscription and may charge its client(s) a lesser subscription. Russell Research may also receive income from companies seeking to enhance their market recognition, to raise capital or for other corporate advisory services; in such a case, any research we may issue on such a company will fully disclose any fees, commission or other benefits we may receive.

How do you manage potential conflicts of interest?

Russell Research values its research independence in helping us to make objective assessments of securities. We focus on companies listed on the Australian Stock Exchange (ASX), particularly the Midcap and smaller industrial companies.

Peter Russell, Managing Director of Russell Research, has interests in a number of the companies that Russell Research follows and recommends. Thus clients of Russell Research should recognise that the company and its associates may buy, hold and sell shares in companies on which it provides research material and advice. It is not expected that the quantum of any such dealings will be material in the context of the market capitalisation or trading of any such company, however, the potential that there may be such interests is hereby disclosed. Russell Research believes that this aligns the interests of its people with those of its clients and it should thus enhance clients’ confidence in the integrity of Russell Research recommendations.

Our research analysts (and directors, employees and associates) are guided by a code of conduct and disclosure for their share investing and any trading activities. The key elements of our policy are:

-- Analysts may not trade against a recommendation for three weeks without the prior written consent of the Managing Director of Russell Research

-- Analysts may not trade in the shares of a company for one week ahead or after the day of publication of a recommendation.

-- All analysts are required to report their stock holdings and any changes to them. This information will be included whenever relevant in each email, newsletter and the Russell Research website.

Will you provide me advice, suitable to my needs and financial circumstances?

No, Russell Research only provides general advice, and has no knowledge of your personal situation.

What should I know about the risks of the financial products or strategies you recommend to me?

We indicate a risk weighting to our recommendations where we consider the risk higher than normal across our spectrum of companies covered. All recommendations are general in nature, however. You should consult your own financial advisor if you are unsure of either your risk profile or the suitability of a recommendation to your own situation.

What information do you maintain in my file and can I examine my file?

We keep name, address, phone and e-mail details for the purpose of fulfilling requested research services. When Subscribers register to receive our research services they may indicate whether they wish to receive additional information and marketing on particular Russell Research coverage. At any time a subscriber may change, remove or alter the records held by Russell Research or elect not to receive any materials from Russell Research or affiliated companies. Personal details held may include name, contact details (address, phone/fax, particularly email) and payment information (credit card and/or bank details). Russell Research will assist with any of your questions concerning your records.

Does Russell Research have professional indemnity insurance?

No. Phillip Capital has effected professional indemnity insurance in accordance with its obligations under section 912B of the Corporations Act.

Who can I complain to if I have a complaint about the provision of the financial services to me?

If you have any complaint about the service provided to you, you should contact us and tell us about your complaint. We will seek to resolve your complaint quickly and fairly. If your complaint is not resolved within a reasonable time by one of our staff, please contact in writing the Managing Director, Russell Research, directly as well as contacting Phillip Capital directly as noted above.

Other important documents

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  1. Our Privacy Policy in html or pdf format
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