Competition terms & conditions

Welcome to Willis Owen : play Competition. These Terms and Conditions and the general Terms and Conditions are applicable to your use of and access to this service.

By entering the Competition you agree to be bound by these terms.

1. Definitions:

1.1 “Overall competition prizes” are the prizes awarded to the top three participants at the end of the Competition.

1.2 “Monthly prizes” are the prizes, other than the overall prizes, which may be awarded over the life of the Competition as described in clause 2.4.

1.3 “Occasional prizes” are the prizes, other than the overall and monthly prizes, which may be awarded over the life of the Competition as described in clause 2.5

1.4 “Competition period”:
00:00 1st April 2016 – 23:59 30th June 2016

1.5 “Competition months”:
The Competition period is divided into 3 calendar months. Each Competition month being the calendar month during the Competition period.

  • 00:00 1st April 2016 – 23:59 30th April 2016
  • 00:00 1st May 2016 – 23:59 31st May 2016
  • 00:00 1st June 2016 – 23:59 30th June 2016

1.6 Times:
Are all UK time.

2. Prizes

2.1 Eligibility for prizes

Only individuals who qualify as participants from the beginning to the end of the prize period (see clauses 2.2 and 3.2) are eligible for prizes.

2.2 Participant eligibility

2.2.1 To be eligible to participate in the Competition, participants must be aged 18 or over and be a UK resident.

2.2.2 It is not a requirement for a Competition participant to be an existing customer of Willis Owen or to make a purchase through Willis Owen.

2.2.3 In addition, to be eligible to participate in the Competition, each participant must not be: an employee of, a partner in or an appointed representative of an FCA authorised firm.  Or be

  • a registered adviser or an employee of a registered advisory firm; or
  • an adviser or professional investor at a discretionary asset manager, private bank, private customer stockbroker or a family office; or
  • an employee of a life company and a member of that life company's intermediary sales team, distribution team or marketing team; or
  • a Fund Manager or a member of their research team or
  • a director, partner or employee of a service provider to an FCA authorised registered advisory firm.

The meaning of the following will be at Willis Owen’s absolute discretion: registered adviser; registered advisory firm; adviser or professional investor at a discretionary asset manager, private bank, private customer stockbroker or a family office; a member of a life company’s intermediary sales team, distribution team or marketing team; a Fund  manager; a service provider.

If you are in doubt about your eligibility to participate in the Competition, you should check with Willis Owen before entering.

2.2.4 This Competition is not open to employees (or their direct family members/partners) of Willis Owen. In addition, the Competition is not open to anyone connected with the operation of Willis Owen.

2.2.5 Individuals who enter the Competition in contravention of this section are not eligible to win any prize and will be removed and disqualified from the Competition by Willis Owen at its absolute discretion.

2.3 Overall competition prizes

2.3.1 At the end of the Competition, the participant(s) with the highest average weekly growth (to two decimal places) will each receive a prize. Prize winners will be contacted by Willis Owen (see clause 2.6.1). However, should Willis Owen be unable to contact a winning participant or be unable to confirm their eligibility to a prize within 28 days of the prize being awarded, then Willis Owen may, at its absolute discretion, determine that participant to be ineligible for the prize concerned and instead select the participant with the next highest percentage return as a prize winner, subject to being able to contact them and confirm their eligibility within 28 days.

2.3.2 The first, second and third prizes will be awarded to the participants with the highest, second highest and third highest percentage average weekly growth (to two decimal places) at the end of the Competition, respectively.

2.3.3 The prizes are as follows:

  • 1st Prize: iPad Air (or equivalent, up to the value of £600)
  • 2nd Prize: Digital Camera (or equivalent, up to the value of £400)
  • 3rd Prize: Fortnum & Mason hamper (or equivalent, up to the value of £200)

2.4 Monthly prizes

At the end of each Competition month, each currently registered participant, who has participated in the Competition over the full Competition month period, and who has the highest percentage growth (to two decimal places) over that Competition month will receive a Marks and Spencer gift voucher. First prize will receive vouchers to value of £250, second prize £100 and third prize £50.

2.5 Occasional prizes

Willis Owen reserves the right to introduce intra-Competition prizes and other promotions (the “Occasional prizes”) leading up to and throughout the course of the Competition, and over and above the monthly Competition. The criteria for winning these occasional prizes will be announced at the time any promotion is launched.

2.6 Prize winners

2.6.1 Notification of prize winners

Willis Owen will contact prize winners by phone and/or email and prizes will be delivered within 28 days of such notification.

2.6.2 Tax

Willis Owen will not be liable for any tax liability which is incurred by any person as a result of, or in connection with, or arising from the winning of any prize in the Competition. Any tax liability will be the sole responsibility of the recipient of the prize. For the purposes of this Competition, tax includes all taxes, VAT, National Insurance or other similar liabilities.

2.6.3 Prize substitutions

Willis Owen may at its absolute discretion vary the prizes if it is not possible or practical to source them and participants agree that no liability shall attach itself to Willis Owen as a result thereof.

2.6.4 Tie break for prizes

In the event that any of the leading positions for a prize is tied, the prize will be awarded to the participant who registered for : play first.

3. Registration

3.1 Registration

3.1.1 All participants must register in the ‘Register’ page of the website. Information about how to register is set out in the ‘Register’ page of the website.

3.1.2 Willis Owen reserves the right to refuse to accept any participant names that have been duplicated or are felt, in Willis Owen’s sole discretion, to be inappropriate or offensive. Competition participants who seek to register under unsuitable names shall be refused entry into the Competition, removed from the Competition, or renamed by Willis Owen at any time.

3.1.3 Willis Owen reserves the right to remove a participant from the Competition, at its absolute discretion, if they do not act in accordance with the Terms, or the spirit, of the Competition. Any eligibility for prizes will cease immediately upon such removal from the Competition in these circumstances.

3.1.4 Removal from the Competition: Willis Owen may remove participants if it finds they are ineligible. From the point a participant is removed from the Competition, they become ineligible for any prizes with immediate effect, unless they are removed after the end of the Competition Period, a Competition Month or a Competition Quarter (or any other such period required to be eligible to win an Occasional Prize) and before the prize for that particular period has been actually awarded to the participant, provided the reason for removal is not ineligibility.

Participants may leave the Competition at any time by following the instructions on the website.

3.2 Eligibility

3.2.1 All participants should have a Competition participant name. This name, once reviewed and approved by Willis Owen (see clause 3.2.2), will be displayed in the Competition.

3.2.2 Each participant will be reviewed initially before they are allowed to complete registration and enter the Competition. Only upon successful completion of this initial review will a participant’s registration be complete. If Willis Owen believes that a participant should not be allowed entry into the Competition, then Willis Owen may, at its absolute discretion, reject the participant’s application for registration.

3.2.3 A participant’s eligibility may also be reviewed during the course of the Competition to ensure it meets all the eligibility criteria. If a participant is found to be ineligible, at any time, they will be disqualified.

3.2.4 In order to be eligible to compete for the Overall Competition Prizes, participants must enter an initial portfolio by selecting Funds to create a valid portfolio by 23:59 on 31st March 2016. Any registered participant who has failed to select a valid portfolio will be ineligible to compete for the Overall Competition Prizes, but may still qualify for monthly prizes.

4. The Competition

4.1 Competition objective

Each participant will be given a notional £10,000  to invest in a portfolio of Funds. Participants will be able to trade their portfolios over a Competition Period and the winning participant will be the participant that has the highest percentage average weekly return at the end of the Competition.

4.2 The Competition commences at 00:00 on 1st April 2016, with Funds being priced for the first time using the closing prices on 31 March 2016. Initial portfolio values will be available from 09:00 on 2nd April 2016.

4.3 Willis Owen reserves the right, at its sole discretion, to terminate the Competition at any time if it becomes impossible or impractical to carry on with it.

4.4 Competition registration

4.4.1 Entry into the competition is free.

4.4.2 To enter the competition, entrants must register a valid portfolio on the Competition website at willisowen.co.uk/play

4.4.3 Registration will open on 1st February 2016.

4.4.4 All participants must register in the ‘Register’ section of : play.

4.4.5 Registration Data: The data required from all participants for registration in the Competition will be:

  • First name and Last Name
  • Age Range
  • Email Address
  • You must also choose a password
  • Willis Owen will use this data during the course of the Competition to: i) display participants’ names on the leader board; ii) communicate with participants about the Competition (see also clause 5), with information regarding their performance, Fund news and promotions within the Competition, Fund events, and market updates; iii) promote the Competition and any future Willis Owen : play Competitions and iv) to check participants’ eligibility for the Competition and entitlement to prizes.
  • Willis Owen may also use the information supplied to provide participants with information about their products and services, seminars and product launches that may be of interest by mail, telephone and email. Any participant not wishing to receive such information should tick the opt-out box on the registration page, use the ‘Help and Support’ facility or contact their usual Willis Owen representative.

4.4.7 Once a participant has completed registration, the participants name may be displayed  in the Competition.

4.4.8 Willis Owen reserves the right, at any time, to close the registration to further participants should the Competition capacity be reached, or indeed for any other reason at its sole discretion.

4.5 Late registration

4.5.1 Participants can apply to register to the Competition after the Competition has commenced but no later than 23:59 on 31st May 2016 to be eligible for the last of the Monthy Prizes.

4.5.2 The registration process will be exactly as described above except that participants registering after the Competition has commenced will be ineligible for the Overall Competition Prizes and their eligibility for Additional and Occasional Prizes will be determined by the Late Entrant Rules below.

4.6 Late entrant rules

4.6.1 Participants who register and are entered into the Competition after the Competition has commenced 00:00 GMT on 1st April 2016 will be classified as late entrants (“Late Entrants”) and subject to the Late Entrants rules and restrictions described below.

4.6.2 Late Entrants will, once they have been successfully registered in the Competition, be given a notional £10k to invest in a portfolio of Willis Owen Funds. Participants will be able to trade their portfolios over the remaining period of the Competition.

4.6.3 All the portfolio construction rules described below (clause 4.7.2) will also apply to Late Entrants.

4.6.4 Late Entrants will only be eligible to in the monthly and quarterly and occasional Competitions subject to the criteria below. They will not be eligible to win the Overall Competition Prizes and their name will not be displayed in the overall Competition leader board.

4.6.5 In order for Late Entrants to be assured of participating for a full Competition Month they must be registered prior to the first day of the Competition Month (see clause 1).

4.6.6 In order for Late Entrants to be assured of participating for a full Competition Quarter they must be registered prior to the first day of the Competition Quarter (see clause 1).

4.6.7 In order for late entrants to be assured of participating for a full Occasional Prize period they must be registered prior to the first day of the Occasional Prize period (see clause 1).

4.7 Create a portfolio

4.7.1 Portfolio Construction Rules and Restrictions:

  • A minimum of 1 Fund (including Cash) may be held in a portfolio
  • A maximum of 20 Funds may be held in a portfolio
  • The minimum trading allocation in any one Fund is 1%.

4.7.2 Any portfolio that does not comply with the trading allocation portfolio construction rules and restrictions set out in 4.7.1 will be invalid and participants will not be able to save and submit such portfolios.

4.8 Fund universe

4.8.1 Funds available for investment within the Competition will be restricted to Funds listed within Willis Owen’s : explore research tool. You should note that, although Funds may be available to purchase within the Competition, these Funds may not necessarily be available for purchase in the same way in reality.

4.8.2 Funds may be launched for inclusion in the Competition during the course of the Competition Period.

4.8.3 Funds may be closed or merged during the course of the Competition.  Where required any impacted Funds may require Willis Owen to transfer into Cash any notional monies effected. You should note that any Fund closures and mergers which occur within the Competition may or may not be reflected in reality and that equally, options available in these instances may not necessarily be the same as those offered in reality.

4.8.4 Should a Fund be “soft closed” in reality (i.e. remain open to investment to existing shareholders only), this may not necessarily be mirrored in the Competition.

4.9 Trading

4.9.1 Trading will be allowed at all times, except when essential Competition updates are taking place.

4.9.2 Trades placed during the weekend or a Bank Holiday will be considered in the same way as a trade made before prices are updated following the end of each business day.

4.9.3 Trades can be made at any time, trades made between Midnight and the morning update at around 8am are re-priced at the overnight price so no advantage can be gained through trading with knowledge of the previous days prices.

4.9.3 There is no cost for trading in Funds within the Competition.  You should note that any Fund costs associated with trading in the Competition may not reflect reality.

4.10 Performance measurement

4.10.1 Participants will be able to view their own portfolio performance on a daily basis.

4.10.2 Closing prices will be used for portfolio valuation and performance measurement purposes.

4.10.3 If for any reason the price used for a Fund in the Competition is subsequently found to be incorrect then Willis Owen may, at its absolute discretion, choose not to correct the Fund price used in the Competition.

4.10.4 Participants are reminded that their portfolio value will change depending upon the performance of their chosen Funds.

4.10.5 Performance will be measured by measuring the percentage change over the relevant period to two decimal places. Performance information displayed in the Competition will be to two decimal places only

4.10.6 Performance data is provided by Financial Express

4.10.7 Willis Owen’s decision is final.

5. Communication and Information about the Competition

5.1 Regular communication

You may receive regular communication from Willis Owen by email over the Competition Period. This communication may include: Competition information, information regarding the  performance within the Competition, prize winners, and Fund news.

6. General

6.1 Willis Owen’s decision in all Competition related matters shall be final.

6.2 Winners’ names, their portfolio selections, photographs and any comments made in relation to a prize or the Competition may be used without limitation for future promotional marketing and publicity purposes in all and any media without notice and without any fee being paid. Entry and participation in the Competition will be deemed to be your acceptance of these Terms.
Winners details will be published on the Willis Owen website and may also be published in other media at Willis Owen’s discretion.

6.3 Willis Owen shall not be liable for any loss or damage whatsoever which is suffered by any person as a result of, or in connection with, or arising from the Competition, any prize or these Terms, or use of the same except for any liability which cannot be excluded by law.

6.4 Participants should keep their password confidential at all times. Willis Owen shall accept no responsibility if password security is breached and any data is added, amended or deleted as a result.

6.5 Willis Owen shall not be responsible for any transactions or data lost or altered in transmission. Evidence of submission of transactions or data will not be accepted as proof of transmission.

6.6 Willis Owen reserves the right to change these Terms without prior notice. Entrants will be advised of any such changes in the ‘Competition News’ section on the Competition website.

7. Complaints

7.1 Willis Owen is willing to investigate any complaints by participants to ensure that its high standards are maintained. However, its decision is final and it shall not be obliged to enter into any correspondence regarding the Willis Owen : play Competition and/or the awarding of any prizes. In the event that a participant wishes to complain they should contact Willis Owen by using the ‘Help and Support’ facility in the Competition website.

8. Jurisdiction

8.1 These Terms shall be governed by and shall be construed in accordance with the law of England and Wales. The courts of England and Wales shall have exclusive jurisdiction to settle any claim arising out of or in connection with these Terms or the legal relationships established by it.