This website is operated by SPX Gestão de Recursos Ltda., SPX Equities Gestão de Recursos Ltda. and SPX International Asset Management Ltd. (collectively, “SPX” or the “SPX Entities”).

By using this website, you are agreeing to these terms of use. SPX may change these terms at any time without further notice to you, and you are responsible for periodically reviewing these terms for updates. Your continued use of this website constitutes agreement by you to all such changes.

Information about investments

The content of this website is for informational purposes only and is not intended to provide specific investment advice for you, and should not be relied upon in that regard. No representation is given that the products or services discussed on or accessible through this website are suitable for you or any particular investor. You should not act or rely on any information provided herein without seeking the advice of a professional.

This website is not directed to any person in any jurisdiction where (by reason of that person’s nationality, residence or otherwise) the availability of the information contained herein is prohibited. It is the responsibility of any persons accessing this website to inform themselves of and to observe fully the applicable laws and regulations of their respective jurisdictions.

No information provided on this website constitutes a solicitation, offer or recommendation to buy or sell shares of any investment fund managed or sponsored by any of the SPX Entities, nor should it be construed as such in any jurisdiction where such a solicitation, offer or recommendation would be illegal or which would subject the SPX Entities to any registration requirement within such jurisdiction that they have not separately undertaken. None of the SPX Entities is registered with the U.S. Securities and Exchange Commission (the “SEC”) or with the Commodity Futures Trading Commission (the “CFTC”). Shares of investment funds managed or sponsored by SPX have not been registered with the SEC or the CFTC, and investors in such funds will not have the protections afforded by registration with the SEC or the CFTC.

Your use of this website

You must not misuse this website by knowingly introducing viruses, trojans, worms, logic bombs or other material that is malicious or technologically harmful. You must not attempt to gain unauthorised access to this website, the server on which it is stored or any server, computer or database connected to this website. You must not attack this website via a denial-of-service attack or a distributed denial-of service attack. SPX will report any such breach to the relevant law enforcement authorities and will co-operate with those authorities by disclosing your identity to them.

You must not use any data mining, robots or similar data gathering or extraction programs or methods, whether automated or manual, to access, acquire, copy or monitor any portion of this website or any of its contents.

Access to this website is permitted on a temporary basis and SPX reserves the right to withdraw or amend the service provided on this website without notice.

Username and password

Certain information on this website is restricted and may be accessed only with a username and password. If you are provided with a username and password, you must not disclose them to any third party or allow any third party to use them to access any information on this website. You agree to notify SPX immediately if you suspect any unauthorised use of this website or of your username or password.

SPX reserves the right to disable any username or password without notice.

Liability and indemnity

To the extent permitted by applicable law, SPX hereby expressly excludes all conditions, warranties, representations and other terms which might otherwise be implied by statute, common law or the law of equity and any liability for any direct, indirect or consequential loss or damage of any kind incurred by any user in connection with this website or in reliance on the information or opinions contained on it, or in connection with the use, inability to use, or results of the use of this website or any websites linked to it or materials posted on it.

You undertake to indemnify and hold SPX harmless from and against all or any claims, actions, liabilities, demands, proceedings or judgements (“Proceedings”) brought or established against SPX and against all losses and all reasonable costs, charges and expenses (including legal fees) which SPX may suffer or incur (including, but not limited to, all such losses, costs, charges or expenses reasonably suffered or incurred in disputing or defending any Proceedings and/or in establishing its right to be indemnified and/or in seeking advice in relation to any Proceedings) and which in any such case arise in connection with or out of any breach or alleged breach by you of any of your obligations and/or undertakings under these terms. This does not exclude or restrict any duty or liability that SPX has to its customers under any applicable regulatory system.

Intellectual property rights

SPX is the owner or licensee of all intellectual property rights on this website, and in the materials published on it. Those works are protected by laws and treaties around the world. All such rights are reserved. You may use the materials on this website and reproduce them in hard copy for your own reference only. Such materials may not otherwise be reproduced, distributed, stored in a data retrieval system or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise) without the prior written consent of SPX. Nothing this website should be construed as granting any licence or right in relation to any trademark of SPX or any third party.


A failure by SPX to enforce a provision of these terms or act on a breach or default by you does not constitute a waiver of any of the rights or remedies of SPX.

These terms constitute the entire agreement between SPX and you with respect to your use of this website and they supersede all prior or contemporaneous communications, agreements and understandings between SPX and you with respect to the subject matter hereof.

Last updated 2 October 2017