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DATA PRIVACY NOTICE

Last Updated: 28 December 2020


Introduction

AUM Asset Management Ltd is committed to process personal data, in line with all applicable privacy and data protection laws. Our firm and offices are located in Malta, a jurisdiction with laws governing the processing of personal data.

“AUM Asset Management”, “we”, “us” or “our” means AUM Asset Management Ltd (C 51467) of 148/2, Tower Road, Sliema SLM 1604, Malta and each of the direct or indirect subsidiaries of AUM Asset Management Ltd (the “AUM Group”). AUM Asset Management Ltd., AUM Group functions and the entity you contract with are the controllers of your personal data. If your contract with the AUM Group is in connection with a fund managed by AUM Asset Management, the investment management company and/or portfolio manager of the fund, together with the fund entity and, in circumstances where the investment manager and/or portfolio manager is part of the AUM Group, that investment manager and/or portfolio manager, will be the controller.

References to “you” or “your” refers to individuals whose personal data is processed by AUM Group, including clients with direct or indirect relationships (such as those who invest through an intermediary); employees, officers, agents (together “Representatives”); and beneficial owners of an organization or entity in connection with:

  • visits to our website;
  • the provision of services to potential and actual clients;
  • transactions to which we are party (including those which we effect on your behalf); or
  • services provided to us by a third-party service provider.

This Privacy Notice sets out the purposes for which we collect, use and disclose (collectively “processing”) personal data and how it is protected. It also sets outs individuals’ rights in relation to the processing of their personal data.

There may be additional terms, conditions and commitments which may provide you on specific occasions that also govern how we collect, use and disclose your personal data, which should be read in conjunction with this Privacy Notice.


Purpose of this Privacy Policy

The Data Protection Act (Chapter 586 of the Laws of Malta) as amended from time to time and supplemented by the General Data Protection Regulation (Regulation (EU) 2016/679) (“GDPR”) applies to the collection, processing and storage of personal data undertaken by organisations within the European Economic Area (EEA), as well as to organisations outside the EEA that handle personal data relating to the offering of services to individuals in the EEA.

The GDPR has principally two key purposes: (a) to set guidelines for the collection, processing and protection of personal data and (b) to give individuals certain rights in relation to their personal data (such as to access and correct it and object to further processing). This Privacy Notice is intended to ensure that clients, prospective clients, investors and prospective investors in investment products to which AUM Group provides investment management services, similar contacts and their respective representatives and service providers or, where any such person is not an individual, such person’s individual directors, officers, employees and/or owners are aware of the categories of your personal data we may collect, how we collect it, what we use it for and with whom we share it in accordance with the GDPR.

Where the client, prospective client, investor, prospective investor, similar contact, representative or service provider is not an individual you are required to provide a copy of this Privacy Notice to those individual directors, officers, employees and/or owners whose personal data we may process.

For the purposes of the Privacy Notice, the term “personal data” means any information relating to you, but does not include data where you can no longer be identified from it such as anonymised aggregated data. We will be a data controller in respect of your relationship with us as an investor, prospective investor, similar contact or service provider. A data controller is responsible for deciding how to hold and use personal data about you. We may process your personal data ourselves or through others acting as data processors on our behalf.

We may provide supplemental privacy notices on specific occasions when we are collecting or processing personal data about you so that you are fully aware of how and why we are using your personal data. These supplemental notices should be read together with this Privacy Notice. If you have any questions about this Privacy Notice you can contact us through the Contact Us page on our website or through a representative of AUM Group.


What information do we collect about you and what do we use it for?

Personal data held by us or on our behalf may include, includes without limitation, your name and surname (including maiden surname, if and where applicable), residential address, date of birth, place of birth, nationality, identity card number, passport number, country of residence, civil status, tax identification, tax status, tax jurisdiction, place of business, email address, other contact details, corporate contact information, signature, employment and job history, education details, regulatory status, credit history, correspondence records, bank account details, certain financial information contained within know-your-client (“KYC”) documents, source of funds and details relating to your investment activity or preferences.

The purposes for which we may collect, store and use personal data about you and our ‘lawful basis’ for processing such data are set out in the table below. Applicable laws specify certain ‘lawful bases’ for which we are allowed to use your personal data.


Purpose and lawful basis for processing personal data

Purpose Lawful basis for processing
To undertake pre-investment steps including but not limited to:

·        determining your eligibility to invest or hold a managed account with us;

·        required due diligence (including a background checks via reputable intelligence platforms)

In order to take steps prior to the

contract between you and

us/any fund in which you may

invest, compliance with

applicable legal obligations.

To undertake business development and marketing activities in relation to making suggestions and recommendations to you about products or services of AUM Group that may be of interest to you. This may include direct electronic marketing, phone calls and meetings. Our legitimate interests in promoting our products and services and growing our business. We only send direct electronic marketing where individuals have expressly consented to this in writing or as otherwise permitted by the law.

Individuals can opt-out of receiving such messages at any time by using the opt-out mechanisms that may be available in those messages or by contacting us.

Where you appoint us to invest or to manage an account on your behalf, to facilitate the opening of your account, the management and administration of your account on an on-going basis as considered necessary or appropriate for the performance of your contract with us, including without limitation the processing of subscription, redemption, conversion and transfer requests and the payment of distributions. The performance of your contract with us.
Where you appoint us to invest or to manage an account on your behalf, to carry out anti-money laundering checks and related actions considered appropriate to meet any legal  and regulatory obligations relating to the prevention of fraud, money laundering, terrorist financing, bribery, corruption, tax evasion and the provision of financial and other services to persons who may be subject to economic or trade sanctions, on an on-going basis, in accordance with our anti-money laundering,  anti-financing of terrorism,  anti-market abuse policies and procedures. Compliance with applicable legal obligations and our legitimate interests in complying with laws and regulations applicable to us and our processors.
Where you appoint us to investor or to manage an account on your behalf, to report tax related information to tax authorities. Compliance with applicable legal obligations.
To disclose information to other third parties such as service providers, legal advisors, auditors and technology providers and regulatory authorities to comply with any legal and regulatory obligations imposed on us or in order to pursue our legitimate business interests. Compliance with applicable legal and regulatory obligations.

Our legitimate interests in conducting our business in a proper manner.

Monitoring and recording calls and other communications related to the processing and verification of instructions, quality and business analysis, compliance with applicable laws and regulations, maintaining our rights and responsibilities directly or through third party delegates. Our legitimate interests in maintaining relations with our clients and in conducting our business in a proper manner.

Compliance with applicable legal obligations.

To maintain our records and, where you appoint us to invest or to manage an account on your behalf, to carry out calculations including without limitation fee, performance and other similar calculations.

 

Where applicable, the performance of your contract with us as a client.

Our legitimate interests in maintaining relations with our clients and contracted service providers and in conducting our business in a proper manner.

Where you appoint us to invest or to manage an account on your behalf, to provide client relations in respect of your account including provision of periodic reporting, seeking consents for changes to terms and for other corporate governance purposes. The performance of your contract with us as a client.

Compliance with applicable legal obligations.

In addition to the uses above, please note that we may also process your information where we are required by law to do so or if we reasonably believe that it is necessary to protect our/your rights and/or to comply with judicial or regulatory proceedings, a court order or other legal process.


Special categories of personal data

There are more limited bases for processing special category personal data. This is personal data which reveals or contains racial or ethnic origin, political opinions, religious and philosophical beliefs, trade union membership, genetic data, biometric data, health data, sex life and sexual orientation.

We do not intend to actively collect special category data about you. Whilst we will use reasonable efforts to limit our holding of such data, please be aware that we may hold such data incidentally. For example, where (i) you volunteer special category data to us or one of our processors, such as if you send us an email containing special category data; or (ii) documents gathered for legal/regulatory purposes (such as for KYC purposes) contain special category data, such as a passport copy which references ethnic origin or a due diligence search from public sources which includes special category data.


What if you do not provide the personal data requested?

Unless and until you make a decision to invest or otherwise engage in a business transaction with us or invest in one of our investment products, at which point we will send you a copy of any relevant privacy notice, you are not required to provide us with any information, including personal data.

If you are invested with us or in an investment fund managed by us (a “Fund”), in some circumstances, if you do not provide us or the Fund with certain information when requested, we and/or such Fund may be limited or restricted in our ability to deal with you and may in some cases be prevented from complying with our legal obligations. Where we or a Fund requires your personal information to comply with anti-money laundering or other legal and regulatory obligations, failure to provide this information means that we or the Fund (as the case may be) may not be able to accept you or retain you a client.


Change of purpose

We will only use your personal data for the purposes for which we collected it as identified above in the section entitled ‘Purpose and lawful basis for processing personal data’, unless we reasonably consider that we need to use it for another reason which is compatible with the original purpose.

If we need to use your personal data for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do so.


How do we collect this information?

We typically collect personal data about you when you provide information to us or others acting on our behalf or on behalf of a Fund, when communicating or transacting with us in writing, electronically, or by phone. For instance, application forms, requests for product documentation or other forms of literature, your transactions and account positions.

In addition, we may receive personal information about you from third parties, such as: (i) public sources or information vendors, (ii) your bank, (iii) your legal, financial, tax or other professional advisers, (iv) introducers, distributors or other intermediaries who market or provide services to you.


With whom will we share your information?

We may share your personal data with a third party where this is required by law, where it is necessary to perform our contract with you, or where we have another legitimate interest in doing so.

We may need to share your personal data with: (i) other entities within the AUM Group as part of our regular reporting activities in company performance, in the context of a business reorganisation or group restructuring exercise or for assistance in relation to marketing and business development, (ii) the administrator of a Fund (where applicable), (iii) introducers, distributors or other intermediaries who market or provide services to you, (iv) professional advisers including lawyers, bankers, auditors and insurers to the extent such information is relevant to their performance of their services, (v) regulators and authorities (including tax authorities), (vi) prime brokers and depositaries, (vii) trading counterparties, (viii) cloud service providers, (ix) parties undertaking anti-money laundering and anti-financing of terrorism checks, and (x) any of our service providers contracted by us where such information is relevant to their performance of such services.

We may share your personal data with third parties, for example in the context of the possible sale or restructuring of our business. We may also need to share your personal data with a regulator or to otherwise comply with applicable law or judicial process or if we reasonably believe that disclosure is necessary to protect our rights and/or to comply with judicial or regulatory proceedings, a court order or other legal process. We may transfer the personal data we collect about you to non-EEA countries. Those countries may not have the same standard of data protection laws as the EEA. Where this is the case, unless an exemption applies, we will seek to put in place appropriate safeguards where possible, such as the EEA approved standard contractual clauses to ensure that your personal data is treated in a manner that is consistent with and respects the EEA laws on data protection. If you require further information about this you can request it from us.


How long will we retain your information?

We will retain your personal data for as long as necessary to fulfil the purposes for which it was collected, including for the purposes of satisfying any legal, regulatory, accounting or reporting requirements and our legitimate interests in maintaining such personal information in our records. This will normally include any period during which we are dealing or expect to deal with you and what we consider to be a suitable period thereafter for our internal record-keeping purposes. In doing this we will have regard to the amount, nature, and sensitivity of the personal data, the potential risk of harm from unauthorised use or disclosure of your personal data, the purposes for which we process your personal data and whether we can achieve those purposes through other means, and the applicable legal requirements.

Generally, we will keep information relevant to our dealings with you for not longer than five (5) years following the last date of activity. In some circumstances your personal data may be anonymised so that it can no longer be associated with you, in which case it is no longer personal data. Once we no longer require your personal data for the purposes for which it was collected, we will securely destroy your personal data in accordance with applicable laws and regulations.


Accuracy of information

It is important that the personal data we hold about you is accurate and current. Please let us know if your personal data which we hold changes during your relationship with us.


Your rights in relation to your information

You have rights as an individual which you can exercise in relation to the information we hold about you under certain circumstances. These rights are to: (i) request access to your personal data (commonly known as a “data subject access request”) and request certain information in relation to its processing; (ii) request rectification of your personal data; (iii) request the erasure of your personal data; (iii) request the restriction of processing of your personal data; (iv) object to the processing of your personal data; and (v) request the transfer of your personal data to another party.

In exercising your rights above, you may be required to redeem from your investment with us or any Fund to which we provide investment management or investment advisory services.

If you want to exercise one of these rights please contact us. You also have the right to make a complaint at any time to a supervisory authority for data protection issues. In case of Malta, the relevant supervisory authority is the Information and Data Protection Commissioner (“IDPC”). You may file a complaint on the website of the IDPC at https://idpc.org.mt/raise-a-concern/, by writing a letter to the Information and Data Protection Commissioner (Malta), Floor 2, Airways House, Triq il-Kbira, Tas-Sliema SLM 1546, Malta. For further information on the IDPC you may visit the following website: https://idpc.org.mt/


Fees

We will not usually charge a fee to access your personal data (or to exercise any of the other rights) for first requests. We may charge a reasonable fee if your request for access is manifestly unfounded or excessive or for subsequent requests. Alternatively, we may refuse to comply with the request in such circumstances.


What we may need from you

We may need to request specific information from you to help us confirm your identity and ensure your right to access the information (or to exercise any of your other rights). This is another appropriate security measure to ensure that personal data is not disclosed to any person who has no right to receive it.


Right to withdraw consent

In the limited circumstances where you may have provided your consent to the collection, processing and transfer of your personal data for a specific purpose, you have the right to withdraw your consent for that specific processing at any time. To withdraw your consent, please contact us.

Once we have received notification that you have withdrawn your consent, we will no longer process your information for the purpose(s) to which you originally consented unless we now have an alternative legal basis for doing so.


Changes to this privacy notice

We reserve the right to update this Privacy Notice at any time, and we will make an updated copy of such Privacy Notice available to you and notify you when we make any substantial updates. We may also notify you in other ways from time to time about the processing of your personal data. This Privacy Notice was last updated on 28th December 2020.


Further information

This Privacy Notice was written with brevity and clarity in mind and is not an exhaustive account of all aspects of our collection and use of personal data. If you require any further information, please do not hesitate to contact us.


Our Contact Details

If you have any questions regarding this Privacy Notice, or if you would like to send us your comments you may contact us by:

  • Website: the contact us form on our website https://aum-am.com/contact/
  • Postal address: 148/2, Tower Road, Sliema SLM 1604, Malta
  • Phone: (+356) 2713 9851

SFDR DISCLOSURE

Last updated: 10 March 2021

 

Sustainable Finance Disclosure Regulation

 

Introduction

EU Regulation 2019/2088 on sustainability-related disclosures in in the financial services sector (the ‘SFDR’ or ‘Sustainable Finance Disclosure Regulation’) imposes new disclosure obligations on asset managers in respect of sustainability of environmental, social and governance. The SFDR came into force on 19 December 2019 and key elements generally referred to as Level 1 requirements will come into effect from 10 March 2021.

The SFDR will require asset managers to provide investors with certain environmental, social and governance (‘ESG’) related information in relation to certain financial products to enable end investors to make informed investment choices.

 

Requirements

In terms of the SFDR, AUM Asset Management will be among others required to disclose on its website and/or pre-contractual documents:

  1. how ESG factors are integrated in the risk policies and processes;
  2. information about policies on the integration of ESG risks in the investment decision-making processes;
  3. any adverse ESG impacts at the firm level and financial product level,
  4. consistency of remuneration policies with the integration of ESG risks;
  5. if a financial product promotes, among other characteristics, ESG characteristics or a combination thereof.

If AUM Asset Management Ltd does not consider the adverse impacts of investment decisions on sustainability factors (that is environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery), we will disclose clear reasons for adopting such policies. Information will include, where relevant, information as to whether and when we intend to consider such adverse impacts.

In accordance with the obligations set out in the SFDR, AUM Asset Management Ltd is committed to review and update any disclosures.

AUM Asset Management Ltd is currently considering the application and impact of the SFDR compliant policies and processes on all the financial products and services offered to its clients.