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In order to access the website of Winterflood Securities Limited you must first read and accept the following terms:

This website is not directed at, or intended for distribution to or use by, any U.S. citizen, person, or entity that resides in or is located in the United States of America or any other jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation which would subject Winterflood to any registration or licensing requirements with such jurisdiction. Services are not available to U.S. persons except where such services are permitted under SEC rule 15a6 or other relevant exemptions from SEC Broker/Dealer registration requirements.

Please note that Winterflood Securities Limited is not registered as a broker-dealer with the Securities and Exchange Commission and is not a member of Financial Industry Regulatory Authority Inc. (“FINRA”). All research reports provided on this website are being distributed directly by Winterflood Securities Limited to persons in the U.S. that qualify as “major U.S. institutional investors” in compliance with Rule 15a-6(a)(2) of the Securities Exchange Act of 1934. Accordingly, these research reports have not been prepared in compliance with FINRA requirements. Please refer to our Full Disclaimer here.

Research on this Website

Research on this website has been issued for the information of Professional Clients and Eligible Counterparties (as defined in the FCA handbook) of Winterflood Securities Ltd (“Winterflood”). The terminology used within the research reports is intended for professional investors. Research reports are not intended to provide the sole basis for any evaluation of an investment decision.

Each research report on this website must be read in conjunction with any disclaimer which forms part of it. Your attention is drawn to the date of issue of the information provided and of the opinions expressed therein. Any opinions are those of the Winterflood Investment Trust research team and are subject to change without notice and Winterflood is not under any obligation to update or keep current the information contained herein. The material on this website is based on information obtained from sources believed to be reliable but which have not been independently verified and are not guaranteed as being accurate.

Use of Cookies

For information on the cookies used on our websites, please refer to our Cookies Policy which can be accessed here.


For information on how we treat your personal data, please refer to our Privacy Notice which can be accessed here.

More information can be found in our Legal Disclaimer

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Use of cookies by Winterflood Securities Limited

Cookies are small text tiles that are placed on your computer by websites that you visit. They are widely used in order to make websites work, or work more efficiently, as well as to provide information to the owners of the site.

The table below explains the cookies we use and why:


Time from set/update



2 years from set/update

Used to distinguish users and sessions. The cookie is created when the JavaScript library executes and no existing…utma cookies exists. The cookies is updated every time data is sent to Google Analytics


End of browser session

Not used in ga.js. Set for interoperability with urchin.js. Historically, this cookie operated in conjunction with the ….utmb cookie to determine whether the user was in a new session/visit.


6 months from set/update

Stores the traffic source or campaign that explains how the user reaches your site. The cookie is created when the JavaScript library executes and is updated every time data is sent to Google Analytics


3 months from set/update

This cookie name is associated with software provided by Crazy Egg Inc. and is used for the tracking of visitor sessions on the website


3 months from set/update

This cookie name is associated with software provided by Crazy Egg Inc. and is associated with the tracking of visitors on the website



The cookie guideline regulates that visitors must be informed if cookies are used on a website. This cookie saves the visitors´ agreement to this. (Website content managers only)



This cookie stores the current version of accepted cookie



A “session cookie” enabling the website to associate all the user’s activity within one visit (or “session”) – for example, to keep administrative users logged in.



Created on pages where functional widgets are in use for website visitors.


By using our website, you agree that we can place these types of cookies on your device.

Most web browsers allow some control of most cookies through the browser settings. To find out more about cookies, including how to see what cookies have been set and how to manage and delete them, visit

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To the extent that any of the cookies described above collect personal information about a user of our website that personal information will be handled in accordance with our Privacy Notice available  here.

Further information on the use of our website can be found in our Legal Disclaimer.