Terms of Use

The following terms and conditions (these “Terms”) govern your access to and use of the internet site located at www.wmadvisors.com and the subpages thereof, of WorldQuant Millennium Advisors LLC and WMA Global Management LLC (collectively, “WMA” or “we” or “us”), and the information, data, tools, software code, illustrations, graphics, other visuals, text, products, services and other content (collectively, the “Content”) available on or through that internet site or the subpages thereof (the web site, subpages and Content collectively referred to as the “Website”).  YOU ACKNOWLEDGE AND AGREE THAT by viewing these Terms or a Website page containing a hyperlink to the Website page where these Terms are displayed: (a) you have received a copy of, you have read and you agree to these terms in their entirety; (b) you intend to form a legally binding contract between you and us; and (c) that you agree and intend that these Terms be the legal equivalent of signed, written contracts, and equally binding.  IN ADDITION, IF YOU ARE ACCESSING THE WEBSITE ON BEHALF OF ANOTHER PARTY (e.g., YOUR EMPLOYER OR YOUR CLIENT), BY DOING SO OR ACCEPTING OR AGREEING TO THESE TERMS, YOU ACCEPT AND AGREE TO THESE TERMS BOTH ON BEHALF OF YOURSELF PERSONALLY AND ON BEHALF OF SUCH OTHER PARTY AND REPRESENT, WARRANT AND COVENANT THAT YOU ARE AUTHORIZED TO DO SO. IF AT ANYTIME YOU CEASE TO BE SO AUTHORIZED, YOU WILL IMMEDIATELY CEASE ACCESSING THE SITE ON BEHALF OF SUCH OTHER PARTY.   The terms “you” or “your” in these Terms refer both to you personally and any other person on whose behalf you are accessing the Website.  We may change these Terms from time to time by posting such changes on the Website and without notice to you.  If you do not agree to these Terms or any change thereto, do not visit or use the Website.  By visiting or using the Website you are agreeing to these Terms as then posted on the Website.

This Website is intended for professional investors only.

  1. Disclaimer; No Offer, Solicitation or Advice: You acknowledge that: (a) we are a global investment manager advising only private investment funds and accounts and we are not available to provide investment advisory or similar services to any other clients; (b) under no circumstances should any information presented on the Website be used or construed as an offer, or solicitation of any offer, or other form of invitation or inducement, to sell or buy any securities, fund or other investments, or to provide a forecast, research or advice regarding investments or a recommendation to purchase, sell or hold any security, fund or other investment, or to pursue any investment style or strategy; (c) the information presented on the Website is not intended to be and should not be construed as an investment recommendation and we do not give any advice or make any representations as to whether any investment, investment strategy or investment style is appropriate or suitable for you or will be profitable or avoid losses or is available in any particular jurisdiction; (d) THE PAST PERFORMANCE OF ANY INVESTMENT, INVESTMENT STRATEGY OR INVESTMENT STYLE IS NOT INDICATIVE OF ITS FUTURE PERFORMANCE; (e) we make reasonable efforts to provide accurate Content on the Website, but we have no obligation to and may not update or correct all or a portion of the Website or any Content even if we are aware that it is inaccurate, outdated or otherwise inappropriate; and (f) we may change all or any portion of the Website or any Content at any time without notice to you; and (g) we do not endorse the opinions of, or warrant the accuracy of facts or other Content contributed to the Website by any third party.  You agree that we are not liable for any action you take or decision you make in reliance on any Content.  ALL CONTENT AVAILABLE ON OR THROUGH THE WEBSITE IS FOR INFORMATIONAL PURPOSES ONLY.  NOTHING ON THE WEBSITE IS INTENDED TO BE, AND YOU SHOULD NOT CONSIDER ANYTHING ON THE WEBSITE TO BE, INVESTMENT, ACCOUNTING, TAX OR LEGAL ADVICE.  IF YOU WOULD LIKE INVESTMENT, ACCOUNTING, TAX OR LEGAL ADVICE, YOU SHOULD CONSULT WITH YOUR OWN FINANCIAL ADVISORS, ACCOUNTANTS OR ATTORNEYS REGARDING YOUR PARTICULAR CIRCUMSTANCES AND NEEDS.
  2. Proprietary Rights: All of the Website, including the look and feel, design, format, organization and compilation of the Website and the Content (each of which, for the avoidance of doubt, are also included in the term the “Website”) is protected by one or more U.S. and international copyrights, patents, database rights, trademarks, service marks and/or other intellectual property and proprietary rights that are owned by WMA and/or third parties.  Your use of the Website does not grant to you ownership of or rights to anything you may access on the Website.
  3. Limited License: You may access and view the Content on the Website on your computer or other internet compatible device, and make limited copies of limited excerpts of the Content on the Website for your own informational and non-commercial use only, and any other use is prohibited.  
  4. Prohibited Use: You shall not:
    • (a) modify, distribute, transmit, perform, display, reproduce, publish, license, exploit, create derivative works from, transfer or sell any of the Website or any Content accessed from the Website unless you have received the express written prior permission of WMA and the applicable rights holder;
    • (b) decompile, disassemble, decrypt or otherwise reverse engineer all or any portion of the Website or attempt to do any of the foregoing;
    • (c) obtain or attempt to gain unauthorized access to other computer systems, materials, information or any services available on or through the Website through any means;
    • (d) engage in spidering, “screen scraping,” “database scraping,” or any other automatic or unauthorized means of accessing, logging-in or registering on the Website;
    • (e) attempt to obtain the identity or lists of users or visitors of the Website, or any information residing on any server or database connected to the Website;
    • (f) access or use the Website or the systems where it is hosted or is accessible in any manner that could interrupt, damage, disable, overburden or impair the Website or any network, hardware, software or systems, circumvent protections designed to prevent any of the foregoing, or interfere with any other party’s use and enjoyment of the Website or any of the same, including by sending mass unsolicited messages or “flooding” servers with requests;
    • (g) access or use the Website in violation of WMA’s, its affiliates’ or any third party’s intellectual property or other proprietary or legal rights;
    • (h) access or use the Website in violation of any applicable law or these Terms;
    • (i) delete, obscure, interfere with or modify any Content on the Website;
    • (j) access or use or permit or facilitate the access or use of the Website or any Content for use by or training of any artificial intelligence or other computer software; or
    • (k) remove any copyright, trademark or other proprietary notice, disclaimer or legend contained on (or printed from) the Website.
  5. Trademarks: The trademarks, logos, service marks and trade names (collectively the “Trademarks”) displayed on the Website or on Content available through the Website, including WMA, www.wmadvisors.com and other indicia of WMA and its funds, strategies, products and/or services, are registered and unregistered trademarks of ours and others and shall not be used in infringement of applicable rights.  Nothing contained on the Website should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any Trademark without the express prior written permission of WMA and the applicable rights holder.
  6. Security:  You are solely responsible for the security of your own computer systems, including using and maintaining appropriate anti-virus, firewall and backup software.  WMA disclaims any responsibility or liability for any problem with your computer systems, including any Malware (as defined below) that your computer systems receive as a result of your use of the Website.  “Malware” means: (a) program code or programming instruction or set of instructions that disrupt, disable, harm, interfere with, otherwise adversely affect or without authorization access or delete any computer program, information, data, file or operation; or (b) other code typically described as being malware, such as a virus, a Trojan, a worm, a logic bomb, a backdoor or the like.
  7. Monitoring, Reporting and Other Actions:  We may monitor and record activity on the Website for any reason or for no reason.  We may investigate any complaint or reported violation of our policies.  We may report any activity that we suspect may violate law or regulation or involve unauthorized access to or use of any of our systems, networks, or data to regulators, law enforcement officials or other persons or entities that we deem appropriate without notice.  We may issue warnings, suspend or terminate use of the Website, deny access to all or part of the Website or take any other action that we deem appropriate without notice.  We have the right to terminate, change, suspend, impose limits on or discontinue any aspect of the Website or the Website’s services, or your access to or use thereof, at any time, and for any reason or no reason without notice or liability.
  8. Personal Information, Cookies and Privacy Policy: We are committed to respecting the privacy of the personal information of the individuals with whom we interact. Please see our Privacy Policy for further details.
  9. No Offer of Employment:  Nothing in the Website constitutes an offer or promise of employment. Any offer of employment that may result from your submission of information to us or our service provider shall be solely in accordance with the specific terms of such offer of employment, regardless of any statement provided by anyone in the Website or elsewhere. 
  10. Submitted Materials: Any and all information or materials submitted by you, including but not limited to content sent through this Website (collectively, “Submitted Materials”), will be deemed not to be confidential or secret, and may be used by us in any manner consistent with these Terms, our Privacy Policy and applicable law. By providing us with Submitted Materials, you (a) represent and warrant that you either own your Submitted Materials, or that you have the necessary licenses, rights, consents and permissions to use such Submitted Materials, submit them to us and authorize us to use and exploit them; and (b) you grant us, our affiliates and service providers a royalty-free, unrestricted, worldwide, perpetual, irrevocable, non-exclusive and fully transferable, assignable and sublicensable right and license to use, copy, publicly display and perform, distribute and prepare derivative works based upon such Submitted Materials (in whole or in part) in any manner and/or to incorporate Submitted Materials (in whole or in part) in other works (including this Website), products or services in any form, media, or technology now known or later developed.  We cannot be responsible for reviewing or maintaining any Submitted Materials you provide, and we may delete or destroy any Submitted Materials at any time.
  11. Prohibited Conduct: You warrant and agree that, while accessing or using the Website (including by use of software tools), you shall not: (a) impersonate any person or entity; or (b) misrepresent your identity, identifying or contact information or affiliation with any person or entity, whether actual or fictitious, including anyone from WMA.
  12. Framing or Linking to the Website: You agree not to frame or link directly to any page, image, graphic, text or other Content on the Website, such as using a framing or an “in-line” linking method, to cause any Content to be displayed on another web site or application, unless expressly permitted by us in writing.  You agree not to download or use images, videos or graphics hosted on this Website for any purpose, including posting such images on another web site or application, unless expressly permitted by us in writing.  You agree not to link from or to any other web site or application to this Website in any manner such that the Website, or any page of the Website, is “framed,” surrounded or obfuscated by any third-party content, materials, advertising or branding.  We may require that any link to the Website be discontinued, and/or revoke your right and ability to link to the Website from any internet site or application at any time.
  13. Fund Investors: For investors and prospective investors in any of our funds or accounts, these Terms are in addition to any terms or conditions that you agree to or have agreed to with us related to any such investment or prospective investment or information related to such funds or accounts or investments, transactions or portfolios thereof or therein that is made available by us (collectively, “Investor Terms”), and in the event of a conflict between any provision of these Terms and an express provision of any Investor Terms, the provision of the Investor Terms shall govern and control.
  14. Third Party Web Sites: If there are any links to or from the Website from or to third-party web sites or any third-party web sites link to the Website (“Linked Sites”), such links do not constitute an endorsement or sponsorship by us of such sites or any of the contents of Linked Sites and we have no responsibility whatsoever for anything on Linked Sites.  Any use of or reliance on a Linked Site is done at your own risk and you assume all responsibilities and consequences resulting from such use or reliance.
  15. DISCLAIMER OF WARRANTIES: You alone are responsible for the content and consequences of (i) any of your activities while you are visiting the Website and (ii) any use of any Content.  THE WEBSITE AND ALL CONTENT ARE PROVIDED “AS IS,” “AS AVAILABLE,” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING ANY WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, OR WARRANTIES ARISING FROM COURSE OF DEALING OR USAGE OF TRADE AND WE HEREBY DISCLAIM ANY AND ALL SUCH WARRANTIES.  WE, OUR FUNDS, ACCOUNTS, AFFILIATES, RELATED PARTIES (INCLUDING WORLDQUANT, LLC AND MILLENNIUM MANAGEMENT LLC) AND OUR AND THEIR RESPECTIVE PRINCIPALS, DIRECTORS, OFFICERS, MANAGERS, ADVISORS, EMPLOYEES, AGENTS, INVESTORS, PARTNERS, CONTRACTORS, SUPPLIERS  OR LICENSORS (ALL THE FOREGOING COLLECTIVELY, THE “PROTECTED PERSONS”) DO NOT WARRANT THAT THE WEBSITE OR THE CONTENT WILL BE TIMELY, SECURE, UNINTERRUPTED, COMPLETE OR ERROR FREE OR WILL MEET ANYONE’S REQUIREMENTS, OR THAT DEFECTS OR ERRORS WILL BE CORRECTED.  NO RESULTS OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM US OR THROUGH THE WEBSITE OR ANY CONTENT SHALL CREATE ANY WARRANTY NOT EXPRESSLY MADE HEREIN.  WMA AND THE OTHER PROTECTED PERSONS ALSO ASSUME NO RESPONSIBILITY, AND SHALL NOT BE LIABLE FOR, ANY DAMAGES TO, OR MALWARE THAT MAY INFECT, YOUR COMPUTER EQUIPMENT OR OTHER PROPERTY ON ACCOUNT OF YOUR ACCESS TO, USE OF, OR BROWSING IN THE WEBSITE OR YOUR DOWNLOADING OF ANY MATERIALS, DATA, TEXT, IMAGES, VIDEO, AUDIO OR OTHER CONTENT FROM THE WEBSITE.
  16. LIMITATION OF LIABILITY: TO THE FULL EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WHATSOEVER SHALL WE OR ANY OF THE OTHER PROTECTED PERSONS BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES INCLUDING LOST BUSINESS, SALES, SAVINGS OR PROFIT (WHETHER IN CONTRACT, OR TORT, INCLUDING NEGLIGENCE, STRICT LIABILITY OR OTHERWISE), IN EACH CASE, ARISING FROM, OR DIRECTLY OR INDIRECTLY RELATED TO, YOUR ACCESS TO OR USE OF, OR THE INABILITY TO ACCESS OR USE, THE WEBSITE OR ANY CONTENT, EVEN IF WE OR SUCH PROTECTED PERSON HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.  LAWS OF SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES SO TO THE EXTENT MANDATED BY SUCH LAWS, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY IN SUCH CASES.   THE PARTIES ACKNOWLEDGE THAT THE LIMITATIONS OF LIABILITY SET FORTH ABOVE ARE TO SURVIVE AND REMAIN IN FORCE NOTWITHSTANDING ANY REMEDY’S FAILURE OF ITS ESSENTIAL PURPOSE.
  17. Indemnification: You agree to indemnify, defend and hold harmless each of the Protected Persons from and against any and all suits, losses, claims, demands, liabilities, damages, costs and expenses (including reasonable attorneys’ fees and court costs) that arise from or relate to: (a) your access to or use of the Website or any Content; (b) your breach of any provision of these Terms; (c) your violation of any applicable law, statute, ordinance, regulation or of any third party’s rights; or (d) any claim asserted by a third party which, if proven, would mean that you are in breach of any representation, warranty, covenant or other provision of these Terms.
  18. Location of Your Access to the Website: We control and operate all of the Website from our offices in the United States of America and any access or use of any of the Website by you will be deemed to be at our offices in the United States.  We do not represent that the Website is appropriate or available for use in other locations.  Persons who choose to access any of the Website from other locations do so on their own initiative, and are responsible for compliance with local laws and regulations, if and to the extent local laws or regulations are applicable.  The Website is not directed to any person in any jurisdiction where the publication or availability of any of the Website is prohibited, by reason of that person’s nationality, residence or otherwise.  Persons subject to any such restriction must not access the Website.
  19. Governing Law: These Terms shall be governed by and construed in accordance with the laws of the State of New York, U.S.A. without regard to its choice of law provisions.  Any lawsuit or legal action or proceedingbrought in relation to the Website, any Content or any of these Terms (collectively, a “Dispute”) shall be brought in a Federal or State court in Manhattan in New York City and State.  You hereby irrevocably consent to the exclusive jurisdiction of such courts, and both you and we hereby waive any claim or defense that such forum is not convenient or proper.  You and we hereby waive any right to trial by jury with respect to any such Dispute, whether in contract, tort or otherwise and consents to service of process by any means authorized by New York law (other than by publication). 
  20. Additional Terms: Certain pages or Content on or accessible through this Website may contain separate terms and conditions, which are in addition to these Terms.  In the event of a conflict, the additional terms and conditions will govern such pages or Content, as the case may be.
  21. Miscellaneous: By using the Website, you represent and warrant that you agree to abide by and that you are fully able and capable of complying with all of the terms, conditions, obligations, affirmations, representations and warranties set forth in these Terms.  Our rights and remedies and your representations, warranties and obligations herein shall be deemed cumulative, and any party’s exercise of any one of such party’s rights or remedies shall not preclude such party’s exercise of any other right or remedy then available to it (whether hereunder, another written, signed contract or at law or in equity).  Our failure to exercise or enforce any right or provision of these Terms shall not constitute a waiver of such right or provision.  The Protected Persons are intended third party beneficiaries of these Terms.  Nothing in these Terms, express or implied, is intended to or shall confer upon any other person other than you, us or the Protected Persons any rights, benefits or remedies of any nature whatsoever.  Without limiting the generality of the foregoing, no provision herein shall be for the benefit of or enforceable by any of our or your creditors.  You shall not assign these Terms or delegate any of your obligations under these Terms.  Any purported assignment of these Terms in violation hereof is void.  These Terms constitute the entire understanding, and supersede all other understandings, between you and WMA concerning the subject matter hereof.  If any provision of these Terms is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of these Terms remain in full force and effect.  As used in these Terms, unless the context otherwise requires, (a) words in the singular number or in the plural number shall each include the singular number and the plural number, (b) the use of any gender shall include all genders, (c) “including” (and any of its derivative forms, e.g., “includes”) means including but not limited to, and (d) “will,” “should,” “must” and “shall” are expressions of command, not merely expressions of future intent or expectation.

Last Updated: September 25, 2024