Privacy Notice for Investors
This Privacy Notice is dated 18 May 2018.
1. This Privacy Notice
This Privacy Notice explains how the Funds (referred to as “Man”, “we”, “us” or “our”) Process Personal Data about individuals who invest in the Fund (including any sub-fund or portfolio of the Fund) and who apply to invest in the Fund. For such purposes the Fund is the Controller.
Where the applicant, or investor, is an institutional investor, then we will Process Personal Data about the directors, officers and ultimate beneficial owners of the institutional investor. This notice also explains how we Process Personal Data about these individuals.
In this Privacy Notice, “you” is used to refer to any of these people and the “Fund” is used to refer to the relevant investment company you are invested in or are applying to invest in.
Capitalised terms used in this Privacy Notice are defined in Section 9. Capitalised terms used in this Privacy Notice which are not defined in this notice, will have the same meaning ascribed to them as in the offering documentation of the relevant Fund you are invested in and which was provided to you at the time of your investment.
This Privacy Notice may be updated from time to time. The latest version of the Privacy Notice is available at https://www.man.com/privacy-notice-investor and is also available upon request from the Investment Manager at [email protected] or Data Protection, Man Group, Riverbank House, 2 Swan Lane, London EC4R 3AD.
2. Processing your Personal Data
Collection of Personal Data: We collect Personal Data about you in accordance with applicable laws and regulations as follows:
- When you provide us with your Personal Data in an application form or in other documents (as part of an application process or at other times), by email, phone, or otherwise. This might include your name, address and other contact details (both electronic and mailing), proofs of name, address or authority to act, date of birth, gender, nationality, photograph, signature job title and other employment details (such as industry and your employer), financial details (such as bank account numbers, investment history, instruction details and transaction details) and tax information (such as tax residency and tax identification information).
- In the course of managing and administering our business relationship with you. This might include your (or an applicant’s) investments in the Fund and changes to the information provided as part of the application process. This will also include any copies of communications with you, including copies of electronic communications and voice recordings made on our systems (in accordance with applicable laws and regulations).
- We collect Personal Data that you have chosen to make public. We may collect Personal Data via public websites and registers and other public sources.
- We receive your Personal Data from third parties who provide it to us such as your advisers, intermediaries, relevant legal and regulatory authorities or other third parties. This might include information obtained for the purposes of our “know your client” procedures (which include anti-money laundering procedures, counter-terrorist financing procedures, politically-exposed-persons checks, sanctions checks, amongst other things).
Sensitive Personal Data: We do not seek to collect or otherwise Process your Sensitive Personal Data; save that we may receive Sensitive Personal Data falling within special categories, such as any Personal Data relating to political affiliations as part of our politically- exposed-persons checks. Any Processing of such Sensitive Personal Data will be necessary for reasons of substantial public interest and occurs on the basis of an applicable law that is proportionate to the aim pursued and provides for suitable and specific measures to safeguard your fundamental rights and interests. There may be other occasions where we seek to Process your Sensitive Personal Data, on such occasions we will only use your Personal Data for the purposes which we will explain at that time.
Criminal Offences Data: We will only Process Criminal Offences Data to the extent required or permitted by applicable law.
Purposes for which we may Process Personal Data: We Process the Personal Data we collect on you as follows and where relevant:
|Processing activities||Legal basis for Processing|
|Anti-money laundering, anti-bribery and “know your client” processes:
To fulfil our regulatory and legal obligations relating to the prevention of money laundering, anti-bribery, fraud prevention, counter-terrorist financing, politically-exposed-persons checks, sanctions checks and any other “know your client” checks. We may use third party services, such as the Fund’s administrators or third party screening service providers to help with these Processes. This includes: confirming and verifying your identity; and screening against lists maintained by a third party which assists with this process (such as sanctions lists from governments around the world, as well as other information about individuals on this list which may include information about criminal convictions, which has been obtained from publicly available sources, such as newspapers and companies registries).
|Administration of your investment:
To enable the Fund, the Investment Manager and the Fund’s administrator to assess and process your subscription application, administer your investment in shares of the Fund issuing and redeeming shares, receiving payments and making payments to the applicants and maintain Shareholders' registers.
|Provision of investor services:
To enable the Fund, the Investment Manager and the Fund’s service providers to inform you about your investment in the Fund, to perform investor servicing functions in respect of your investment; and to update and maintain records and to provide the net asset value calculation of the Fund and other calculations.
To enable us to efficiently manage our relationship with you or your business, keeping our records up to date, maintaining records of services provided and our interactions with you, including responding to any complaints we may receive from you and to seek to resolve these.
|Manage service provider and distributor / intermediary relationships:
To enable us to efficiently manage how we work with other companies that provide services to us.
|Business, financial and risk management:
To run our business in an efficient and proper manner, including audit, risk management processes, managing our financial position, business capability, planning, communications, corporate governance, and service provider management.
|Legal and regulatory compliance:
To comply with our legal and regulatory obligations, including “know your client” processes, the automatic exchange of tax information and legal judgements. To detect, investigate and prevent breaches of internal and regulatory policies, and criminal offence in accordance with applicable laws and regulations, including establishing, exercising and defending our legal rights.
To manage our IT systems and operations, including to operate our IT security and audits.
There may be other occasions where we ask you for your consent for the Processing of your Personal Data, on such occasions we will only use your Personal Data for the purposes which we will explain at that time.
3. Disclosure of Personal Data to third parties
We share your Personal Data with entities within Man Group for legitimate business purposes, such as providing services to you and operating our website.
In addition, we may disclose your Personal Data in accordance with applicable laws and regulations to:
In addition, we may from time to time, in accordance with the purposes described above and in accordance with applicable laws and regulations disclose your Personal Data to:
- other entities within the Man Group, including the Investment Manager and its affiliates;
- third party service providers to the Fund (including the administrator, registrar, transfer agent and the company secretary for the Fund) and companies which such service providers appoint to assist them in administering the Fund, including technology service providers;
- to any relevant party in connection with our anti-money laundering, anti-bribery, anti-fraud or “know your client” requirements (including third party service providers which carry out sanctions checks on our behalf), this service provider may also keep Personal Data which we provide, or which you provide to it direct, in order for it to provide identity verification services to other organisations;
- third party Processors (such as payment services providers and banks);
- third parties to whom you request us to send your Personal Data;
- our professional advisers (such as our auditors, accountants, financial advisers and lawyers);
- to regulators, government bodies and tax authorities (this includes the UK Financial Conduct Authority, the US Securities and Exchange Commission, Her Majesty’s Revenue and Customs and the US Internal Revenue Service and other regulators and authorities as required from time to time), when required by applicable laws and regulations (this includes the US Foreign Account Tax Compliance Act (FATCA) and associated inter-governmental agreements and the EU Directive 2014/107/EU on the automatic exchange of information in the field of taxation);
- any relevant party, claimant, law enforcement agency or court, to the extent necessary for the establishment, exercise or defence of legal rights in accordance with applicable law and regulation; and
- any relevant party for the purposes of prevention, investigation, detection or prosecution of criminal offences or the execution of criminal penalties, including safeguarding against and the prevention of threats to public security in accordance with applicable law and regulation.
We do not share your Personal Data with others for marketing purposes unless you agree to this.
4. Transfers of Personal Data outside the European Union
Due to the international nature of the businesses of the Fund, the Investment Manager and the service providers to the Fund, your Personal Data may be transferred and stored in countries outside the EU. Some of these countries may not have been deemed by the European Commission to have the same level of protection as countries in respect of which EU data protection law applies.
We ensure that such transfers are protected by:
- European Commission’s adequacy decisions;
- standard contract clauses;
- we ensure that the recipient of the Personal Data participates in the EU-US Privacy Shield; or
- we ensure that the recipient uses Binding Corporate Rules.
You may obtain a copy of these safeguards by contacting us via the details provided in Section 7.
5. Necessity of Personal Data for an investment in the Fund
The provision of certain Personal Data is necessary for interests in the Fund to be issued to any applicant and for our compliance (and that of our service providers) with certain legal and regulatory obligations. Accordingly, if certain Personal Data is not provided when requested, an application for shares might not be accepted or this may have other repercussions for your investment.
6. Data Retention
How long we hold your Personal Data will vary. The retention period will be determined by various criteria, including the purposes for which we are using it (as it will need to be kept for as long as is necessary for any of those purposes) and legal obligations (as laws or regulations may set a minimum period for which we have to keep your personal data).
For example, we may keep some of your Personal Data for the purposes outlined above and for as long as we maintain an ongoing relationship with you to manage our business relationship or you are lawfully included in our mailing list and have not unsubscribed.
After our business relationship is terminated, we may keep your Personal Data for up to 10 years after that date in order to maintain records in accordance with applicable laws and regulations which apply to Man and to respond to any regulatory requests or questions.
To the extent we are not permitted to delete your Personal Data for legal, regulatory, internal compliance and audit, or technical reasons we may keep your data for longer than 10 years. In such circumstances, we will ensure your Personal Data and privacy is protected.
7. Your rights
You have a number of legal rights in relation to the Personal Data that is held about you by us, including:
- You have a right to obtain certain information regarding the Processing of the Personal Data and to access your Personal Data.
- If your Personal Data is inaccurate or incomplete, you have the right to request corrections to it.
- In certain circumstances, you have the right to receive some Personal Data in a structured, commonly used and machine-readable format.
- You have the right to ask us to transfer some of your Personal Data to other organisations, where this is technically feasible.
- You have a right to ask us to erase or “restrict” your Personal Data in some circumstances.
- Where we Process your Personal Data because the Processing is in our, or a third party’s, legitimate interests, then you may object to this Processing.
- Where we have asked for your consent to Process your Personal Data you may withdraw your consent at any time. If you withdraw consent, this will not affect the lawfulness of any Processing which we have already carried out.
These rights may be limited, for example, if fulfilling your request would reveal Personal Data about another person, or if you ask us to delete information which we are required by law or regulation to keep or have compelling legitimate interests in keeping.
To exercise any of these rights, please use the contact details provided in Section 7.
You also have a right to complain to a supervisory authority for data protection. This may either be the supervisory authority in the place of your habitual residence, your place of work, or the place where you consider that there has been a breach of data protection law.
8. Contact Details
For electronic communications, please contact:
|[email protected]||If your Personal Data changes or if you no longer wish to receive our service, please let us know and we will correct, update or remove your details.|
|[email protected]||If you have any questions, concerns or wish to exercise your rights set out in Section 6.|
|[email protected]||If you believe there is a potential data protection breach and wish to inform us of such breach.|
All written communications should be directed to:
2 Swan Lane
London EC4R 3AD
9. Defined Terms
|Controller||The entity that decides how and why Personal Data is Processed. In many jurisdictions, the Controller has primary responsibility for complying with applicable data protection laws.|
|Man Group||(i) Man Group plc; (ii) any company or other entity which directly or indirectly controls, is controlled by or is under common control with Man Group plc (including any holding company or subsidiary, each within the meaning of section 1159 of the Companies Act 2006); and (iii) any limited partnership or limited liability partnership whose general partner or managing member is an entity in (ii) above, but excluding any investment fund in relation to which Man Group plc or an entity or partnership in (ii) or (iii) above provides investment management, advisory, marketing or related services.|
|Personal Data||Information that is about any individual, or from which any living individual is identifiable.|
|Process or Processed or Processing||Anything that is done with any Personal Data, whether or not by automated means, such as collection, recording, organisation, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction.|
|Processor||Any person or entity that Processes Personal Data on behalf of the Controller (other than employees of the Controller).|
|Sensitive Personal Data||Personal Data about race or ethnicity, political affiliations or opinions, religious or philosophical beliefs, trade union membership, physical or mental health, sexual life or orientation, genetic or biometric information or any other information that may be deemed to be sensitive under applicable law.|
|Criminal Offences Data||Information about criminal convictions and offences (actual or alleged), including reports from the Disclosures and Barring Service and other similar information.|
|Binding Corporate Rules||Binding Corporate Rules are designed to allow organisation to transfer Personal Data from the EU to their affiliates located outside the EU and are approved by data protection authorities.|