Terms of Use

Please read these Terms of Use carefully. By accessing this website and any pages hereof, you are indicating that you have read, acknowledge and agree to be bound by these Terms of Use. If you do not agree to these Terms of Use, do not access this website. Morgan Stanley reserves the right to change these Terms of Use which you are responsible for regularly reviewing and your continued use of this website constitutes agreement to all such changes. As used herein, Morgan Stanley means, as relevant, Morgan Stanley Australia Limited (ABN 67 003 734 576, AFSL 233742), Morgan Stanley Australia Securities Limited (ABN 55 078 652 276, AFSL 233741), a participant of the ASX Group and Chi-X Australia, Morgan Stanley Investment Management (Australia) Pty Limited (ABN 22 122 040 037, AFSL 314182), and/or Morgan Stanley Wealth Management Australia Pty Ltd. (ABN 19 009 145 555, AFSL 240813), a participant of the ASX Group.

General Information

This website is directed and available to and for the benefit of Australian residents only. This website is comprised of various websites operated by Morgan Stanley (collectively, the "website"). Certain sections of our pages on this website may contain separate terms and conditions (“additional terms and conditions”), which are in addition to these Terms of Use. You should read those additional terms and conditions carefully. By accessing such sections or pages, you agree to be bound by those additional terms and conditions. In the event of a conflict, those additional terms and conditions will govern your use of those sections or pages.

Unauthorised use of Morgan Stanley's website and systems, including, but not limited to, unauthorised entry into Morgan Stanley's systems, misuse of passwords or misuse of any other information, is strictly prohibited. You may not use this website in any manner that could damage, disable, overburden, or impair any Morgan Stanley site or service or interfere with any other party's use and enjoyment of any Morgan Stanley site or service. You may not attempt to gain unauthorised access to any Morgan Stanley site or service, computer systems or networks connected to any Morgan Stanley site or service, through hacking, password mining or any other means. You agree that you will not engage in any activities related to this website that are contrary to applicable laws or regulations.

Morgan Stanley reserves the right, in its sole discretion, without any obligation and without any notice requirement, to change, improve or correct the information, materials and descriptions on this website and to suspend and/or deny access to this website for scheduled or unscheduled maintenance, upgrades, improvements or corrections. The information and materials on this website may contain typographical errors or inaccuracies. Any dated information is published as of its date only, and Morgan Stanley does not undertake any obligation or responsibility to update or amend any such information. Morgan Stanley may discontinue or change any product or service described in or offered on this website at any time.

Financial Products

The material contained on this website is for informational purposes only and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy.

Unless otherwise stated, the material was not prepared by the Morgan Stanley Research Department and is not a Research Report as defined under ASIC guidelines. To the extent this document contains any general advice, it has been prepared without taking into account your objectives, financial situation or needs, and because of this, you should, before acting on it, consider the appropriateness of the advice, having regard to your objectives, financial situation and needs, and if the advice relates to the acquisition or possible acquisition of a particular financial product for which an offer document (such as a prospectus or product disclosure document) is available, you should obtain the offer document relating to the particular product and consider it before making any decision whether to acquire the product.

Before entering into any transaction, you should ensure that you fully understand the terms of the transaction, relevant risk factors, the nature and extent of your risk of loss, as well as the legal, tax, and accounting consequences of the transaction. You should also carefully evaluate whether the transaction is appropriate for you in light of your experience, objectives, financial resources, and other relevant circumstances and whether you have the operational resources in place to monitor the associated risks and obligations over the term of the transaction. We recommend that you obtain financial as well as tax advice based on your own individual circumstances before making an investment decision.

Disclaimer of Warranty and Limitation of Liability

The information, products and services on this website are provided on an "AS IS," "WHERE IS" and "WHERE AVAILABLE" basis. Morgan Stanley does not warrant the information or services provided herein or your use of this website generally, either expressly or impliedly, for any particular purpose and expressly disclaims any implied warranties, including but not limited to, warranties of title, non-infringement, merchantability or fitness for a particular purpose.

Morgan Stanley will not be responsible for any loss or damage that could result from interception by third parties of any information or services made available to you via this website. The material on this website is based on data from multiple sources and although the information is obtained or compiled from sources we believe to be reliable, Morgan Stanley cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you for any particular purpose. References to third parties contained herein should not be considered a solicitation on behalf of or an endorsement of those entities by Morgan Stanley. The opinions expressed by the author of an article written by a third party are solely his/her own and do not necessarily reflect those of Morgan Stanley.

Neither Morgan Stanley, nor any of its affiliates, directors, officers or employees, nor any third party vendor, will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this website, or resulting from the act or omission of any other party involved in making this website, the data contained herein or the products or services offered on this website available to you, or from any other cause relating to your access to, inability to access, or use of the website or these materials, whether or not the circumstances giving rise to such cause may have been within the control of Morgan Stanley or of any vendor providing software or services.

In no event will Morgan Stanley or any such parties be liable to you, whether in contract or tort, for any direct, special, indirect, consequential or incidental damages or any other damages of any kind even if Morgan Stanley or any other such party has been advised of the possibility thereof. This limitation on liability includes, but is not limited to, the transmission of any viruses which may infect a user's equipment, failure of mechanical or electronic equipment or communication lines, telephone or other interconnect problems (e.g., you cannot access your internet service provider), unauthorized access, theft, operator errors, strikes or other labour problems or any force majeure. Morgan Stanley cannot and does not guarantee continuous, uninterrupted or secure access to the website.

Proprietary Rights

All right, title and interest in this website and any content contained herein is the exclusive property of Morgan Stanley, except as otherwise stated. Unless otherwise specified, this website is for your personal and non-commercial use only and you may print, copy and download any information or portion of this website for your personal use only.

You may not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, frame, create derivative works from, transfer, or otherwise use in any other way for commercial or public purposes in whole or in part any information, software, products or services obtained from this website, except for the purposes expressly provided herein, without Morgan Stanley's prior written approval. If you copy or download any information or software from this website, you agree that you will not remove or obscure any copyright or other notices or legends contained in any such information.

Morgan Stanley, the Morgan Stanley logo and other Morgan Stanley trademarks and service marks referenced herein are trademarks and service marks of Morgan Stanley. The names of other companies and third-party products or services mentioned herein may be the trademarks or service marks of their respective owners. You are prohibited from using any marks for any purpose including, but not limited to use as metatags on other pages or sites on the World Wide Web without the written permission of Morgan Stanley or such third party, which may own the marks.

Pursuant to Section 512(c)(2) of the United States Copyright Act, Morgan Stanley designates the following agent to receive notifications of claimed infringement: Laurence Bromberg, Morgan Stanley, 1585 Broadway, New York, New York 10036; fax: (212) 507-3321; internetadmin@morganstanley.com.

Use of Links

This website may contain links to third party websites. These links are provided only as a convenience. The inclusion of any link is not and does not imply an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by Morgan Stanley of any information contained in any third party website. In no event shall Morgan Stanley be responsible for the information contained on that site or your use of or inability to use such site. You should also be aware that the terms and conditions of such site and the site's privacy policy may be different from those applicable to your use of this website.

Privacy & Cookies

Morgan Stanley may process personal data as part of and/or in connection with your access and/or use of this website. This includes using cookies and similar technology to collect information about your use of our website and your preferences.

To find out more information about how Morgan Stanley processes personal data, how we use cookies and how to reject cookies, see Our Privacy & Cookies Policy.

By accessing or using this website you consent to Morgan Stanley processing personal data and using cookies as further detailed in Our Privacy & Cookies Policy. You acknowledge and agree that if you choose to reject our cookies, some or all parts of the website may not function properly or may not be accessible.

Governing Law

These Terms of Use shall be governed by and construed in accordance with the laws of the state of New South Wales, Australia, without regard to conflicts of laws provisions. Sole and exclusive jurisdiction for any action or proceeding arising out of or related to these Terms of Use shall be in an appropriate state or federal court located in the State of New South Wales, Australia.

Any cause of action you may have with respect to your use of this website must be commenced within one (1) year after the claim or cause of action arises. If for any reason a court of competent jurisdiction finds any provision of these Terms of Use, or a portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to affect the intent of these Terms of Use, and the remainder of these Terms of Use shall continue in full force and effect. Except to the extent that additional terms and conditions apply, these Terms of Use constitute the entire agreement between Morgan Stanley and you with respect to this website and they supersede all prior or contemporaneous communications, agreements and understandings between Morgan Stanley and you with respect to the subject matter hereof.