December 2022
Applies to following entities, referred to as the “investment manager” as appropriate:
- Coolabah Capital Investments Pty Ltd (CCI of Company) ACN 153327872
- Coolabah Capital Institutional Investments Pty Ltd (CCII) ACN 605806059
- Coolabah Capital Investments (Retail) Pty Ltd (CCIR) ACN 153555867
- Coolabah Capital (UK) Ltd Company Number 12714422
Applies to following funds and individually managed accounts (IMAs), referred to as “funds “or “portfolios”:
- Smarter Money Fund (SMF), ARSN 154 023408
- Smarter Money Higher Income Fund (SMHI), ARSN 601 093 485
- Smarter Money Long-Short Credit Fund (LSCF), ARSN 617 838 543
- Coolabah Long-Short Opportunities Fund, ARSN 656 965 481
- Coolabah Floating-Rate High Yield Fund (Managed Fund), ARSN 664 098 382
- Coolabah Active Composite Bond Fund (Hedge Fund), ARSN 650 526 695
- CCI and CCII portfolios, funds and IMAs.
Collectively, the ‘Group’.
Part 1
1. Application and Objective
This Policy applies to information collected by the Investment Manager, and outlines how the Investment Manager collects, stores, and manages any personal information that it holds.
The objective of the Policy is to ensure the protection of client personal information.
2. Personal information
The investment manager may only collect personal information that is reasonably necessary to provide or administer its clients with financial services. Such personal information may include:
- names, dates of birth, addresses, contact details, and relevant identification documents; and
- credit information, being information used to assess the creditworthiness of a client.
Where required by law, the investment manager may also collect and store sensitive information (for example, to verify a client’s identity).
The investment manager collects this information either:
- directly from its clients; or
- from third parties, including the fund administrator, a client’s financial advisor or custodian, or an identity verification service provider.
Any personal information collected by the investment manager will only be used for the purposes for which it has been collected, or as otherwise permitted under the relevant law. The investment manager will not collect personal information unless the information is necessary for one or more of its functions or activities.
3. Use and disclosure of personal information
Personal information collected by the investment manager will be used for the primary purpose of providing services to the client, however may also be used for related purposes including to:
- undertake identity or transaction verification;
- process applications for services;
- administer and manage the provision of services;
- respond to queries, complaints, or provide other customer services;
- comply with laws and regulatory requirements, including anti-money laundering, financial services and taxation laws, or complying with any request made by a governmental authority in connection with legal proceedings or the prevention or detection of fraud and crime; or
- comply with our risk management policies and procedures.
The investment manager may disclose personal information in circumstances where:
- the disclosure is from one entity in the Group to another;
- the disclosure is to a professional services firm that provide services to the investment manager, such as a law firm or audit firm, and the disclosure is necessary for the professional services firm to provide the services to the investment manager;
- otherwise in accordance with this policy or as required or authorised by law.
4. Use of service providers
The investment manager may, from time to time, contract out some of administrative and support functions such as registry and settlement services, document and data storage, or identity verification services to external service providers. In those instances, the investment manager may disclose personal information to the service provider, however only information necessary for the service provider to carry out their function will be provided and will be subject to confidentiality clauses in the relevant services agreement.
5. Safety and security of stored information
The investment manager may store its client’s personal information in paper and/or electronic form and will take reasonable steps to protect personal information it holds by storing it in a secure environment, including on encrypted private/restricted access company drives or with data service providers.
The investment manager maintains effective control of the information, and takes reasonable steps to protect personal information from loss, interference or misuse, and unauthorised access, modification or disclosure.
In addition, the investment manager’s Sensitive Data policy governs the use and storage of clients’ personal and credit information by the investment manager where access to this data is on a “need to know” basis and is restricted to staff who require access to that information in order to perform their roles.
6. Client access to and correction of personal information
Clients may request, and will generally be provided with, access to their personal information held by the investment manager, including information relating to how the investment manager uses and processes the information, at any time. However, access to personal information may not be granted in instances where specific exceptions apply, such as where:
- it would be unlawful to provide the information;
- the investment manager reasonable doubts concerning the identity of the natural person making the request;
- providing access would be likely to prejudice an investigation of possible unlawful activity;
- the information is relevant to legal proceedings and would not be accessible in the normal discovery process;
- giving access would have an unreasonable impact on the privacy of other individuals;
- it would pose a serious and imminent threat to the life or health of any individual; or
- the request is frivolous or vexatious.
During the course of the investment manager’s relationship with its clients, it may ask clients to inform it of any changes to their personal information. The investment manager will generally rely on its clients to ensure the information held about them is accurate or complete, however if the investment manager becomes aware that the personal information held about a particular client is inaccurate, incomplete, misleading or irrelevant, it may take reasonable steps to amend it.
7. Using government identifiers
The investment manager generally does not collect government identifiers (such as TFNs, Medicare numbers and Drivers Licence numbers), however to the extent that the investment manager may hold a client’s government identified, it will not use or disclose this information other than required by law.
8. Using Online Services
When the investment manager’s clients access and interact with its website or online services, the investment manager may collect certain information about those visits. For example, in order to permit connection to the investment manager’s services, its servers may receive and record information about the client’s computer, device, and browser, including the IP address, browser type, and other software or hardware information. If the investment manager’s clients access its services from a mobile or other device, the investment manager may collect a unique device identifier assigned to that device, geolocation data, or other transactional information from that device. Technologies may also be used to collect and store information such as pages the client has visited, content viewed, search queries run and advertisements viewed in relation to the client’s usage of the investment manager’s services.
9. Transborder data flows
The investment manager has staff located at overseas locations (ie. London), and they may have access to personal information as appropriate to their role. They are subject to this Privacy Policy and/or local requirements where these apply a higher standard.
10. Information disclosure for merger or sale of business
If the investment manager sells all or part of its business, or makes a sale or transfer of its assets or is otherwise involved in the merger or transfer its business, the investment manager may transfer or disclose client information to the party/parties involved in the transaction as part of that transaction and as part of any due diligence processes taking place in contemplation of a potential transaction.
11. Information disclosure for investor due diligence
Potential clients when performing operational due diligence on the investment manager may in the course of their diligence have access to its client list, but not the personal information of those clients. In such circumstances, the prospective client will be bound by confidentiality.
12. Record Keeping
The invest manager will maintain records of its clients for a period of 7 years, or as otherwise required by law, including records relating to the verification and identification of clients.
13. Change in the investment manager’s Privacy Policy
The investment manager may change this privacy policy from time to time.
Part 2
14. Application of Part 2
This part 2 of the Policy only applies to personal data collected by CCIUK, or the subjects of personal information collected by or on behalf of the invest manager who reside in the United Kingdom, European Union, or other Member State of the General Data Protection Regulation (GDPR).
For the avoidance of doubt, Part 1 of the Policy applies to the investment manager (including CCIUK), and provisions of Part 2 of the Policy operate in addition to those contained in Part 1, except to the extent of any inconsistency, in which case Part 2 shall prevail.
15. Definitions
For the purposes of this Part 2, the following terms have the following meanings:
‘personal data’ means any information relating to an identified or identifiable natural person (‘data subject’); an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person;
‘processing’ means any operation or set of operations which is performed on personal data or on sets of 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;
16. Principles relating to processing of personal data
Personal data shall be:
a) processed lawfully, fairly and in a transparent manner in relation to the data subject;
b) collected for specified, explicit and legitimate purposes and not further processed in a manner that is incompatible with those purposes;
c) adequate, relevant and limited to what is necessary in relation to the purposes for which they are processed;
d) accurate and, where necessary, kept up to date; every reasonable step must be taken to ensure that personal data that are inaccurate, having regard to the purposes for which they are processed, are erased or rectified without delay;
e) kept in a form which permits identification of data subjects for no longer than is necessary for the purposes for which the personal data are processed;
f) processed in a manner that ensures appropriate security of the personal data, including protection against unauthorised or unlawful processing and against accidental loss, destruction or damage, using appropriate technical or organisational measures.
The investment manger shall be responsible for, and be able to demonstrate compliance with the above requirements.
17. Lawfulness of processing
The investment manager may only process the personal data where:
a) the data subject has given consent to the processing of the personal data for one or more specific purposes;
b) processing is necessary for the performance of a contract to which the data subject is party or in order to take steps at the request of the data subject prior to entering into a contract;
c) processing is necessary for compliance with a legal obligation to which the investment manager is subject; or
d) processing is necessary in order to protect the vital interests of the data subject or of another natural person.
18. Transparency
Where personal data relating to a data subject are collected from the data subject, the investment manager shall, at the time when personal data are obtained, provide the data subject with all of the following information:
a) the identity and the contact details of the investment manager;
b) the contact details of the data protection officer, where applicable;
c) the purposes of the processing for which the personal data are intended as well as the legal basis for the processing;
d) the recipients or categories of recipients of the personal data, if any;
The investment manager shall, at the time when personal data are obtained, provide the data subject with the following further information necessary to ensure fair and transparent processing:
e) the period for which the personal data will be stored, or if that is not possible, the criteria used to determine that period;
f) the existence of the right to request from the investment manager access to and rectification or erasure of personal data or restriction of processing concerning the data subject or to object to processing as well as the right to data portability;
g) the existence of the right to withdraw consent at any time, without affecting the lawfulness of processing based on consent before its withdrawal;
h) the right to lodge a complaint with a supervisory authority;
i) whether the provision of personal data is a statutory or contractual requirement, or a requirement necessary to enter into a contract, as well as whether the data subject is obliged to provide the personal data and of the possible consequences of failure to provide such data;
j) the existence of automated decision-making, including profiling and meaningful information about the logic involved, as well as the significance and the envisaged consequences of such processing for the data subject.
Where the investment manager intends to further process the personal data for a purpose other than that for which the personal data were collected, the investment manager shall provide the data subject prior to that further processing with information on that other purpose.
Where personal data have not been obtained from the data subject, the investment manager shall provide the data subject with the following information:
a) the identity and the contact details of the investment manager;
b) the contact details of the data protection officer, where applicable;
c) the purposes of the processing for which the personal data are intended as well as the legal basis for the processing;
d) the recipients or categories of recipients of the personal data, if any;
e) the period for which the personal data will be stored, or if that is not possible, the criteria used to determine that period;
f) the existence of the right to request from the investment manager access to and rectification or erasure of personal data or restriction of processing concerning the data subject or to object to processing as well as the right to data portability;
g) the existence of the right to withdraw consent at any time, without affecting the lawfulness of processing based on consent before its withdrawal;
h) the right to lodge a complaint with a supervisory authority;
i) from which source the personal data originate, and if applicable, whether it came from publicly accessible sources;
j) the existence of automated decision-making, including profiling and meaningful information about the logic involved, as well as the significance and the envisaged consequences of such processing for the data subject.
The investment manager shall provide the information referred to above:
a) within a reasonable period after obtaining the personal data, but at the latest within one month, having regard to the specific circumstances in which the personal data are processed;
b) if the personal data are to be used for communication with the data subject, at the latest at the time of the first communication to that data subject; or
c) if a disclosure to another recipient is envisaged, at the latest when the personal data are first disclosed.
19. Right of access
The data subject shall have the right to obtain from the investment manager confirmation as to whether or not personal data concerning them are being processed, and, where that is the case, access to the personal data and the following information:
a) the purposes of the processing;
b) the categories of personal data concerned;
c) the recipients or categories of recipient to whom the personal data have been or will be disclosed, in particular recipients in third countries or international organisations;
d) where possible, the envisaged period for which the personal data will be stored, or, if not possible, the criteria used to determine that period;
e) the existence of the right to request from the controller rectification or erasure of personal data or restriction of processing of personal data concerning the data subject or to object to such processing;
f) the right to lodge a complaint with a supervisory authority;
g) where the personal data are not collected from the data subject, any available information as to their source;
h) the existence of automated decision-making, including profiling and meaningful information about the logic involved, as well as the significance and the envisaged consequences of such processing for the data subject.
Where personal data are transferred to a third country or to an international organisation, the data subject shall have the right to be informed of the appropriate safeguards relating to the transfer.
20. Right of rectification
The data subject shall have the right to obtain from the investment manager without undue delay the rectification of inaccurate personal data concerning them. Taking into account the purposes of the processing, the data subject shall have the right to have incomplete personal data completed, including by means of providing a supplementary statement.
21. Right to erasure
The data subject shall have the right to obtain from the investment manager the erasure of personal data concerning them without undue delay and the investment manager shall have the obligation to erase personal data without undue delay where one of the following grounds applies:
a) the personal data are no longer necessary in relation to the purposes for which they were collected or otherwise processed;
b) the data subject withdraws consent on which the processing is based and where there is no other legal ground for the processing;
c) the data subject objects to the processing and there are no overriding legitimate grounds for the processing, or the data subject objects to the processing;
d) the personal data have been unlawfully processed;
e) the personal data have to be erased for compliance with a legal obligation in Union or Member State law to which the investment manager is subject;
Where the investment manager has made the personal data public and is obliged to erase the personal data, the investment manager, taking account of available technology and the cost of implementation, shall take reasonable steps, including technical measures, to inform controllers which are processing the personal data that the data subject has requested the erasure by such controllers of any links to, or copy or replication of, those personal data.
However, the above provision shall not apply to the extent that processing is necessary:
f) for exercising the right of freedom of expression and information;
g) for compliance with a legal obligation;
h) for the establishment, exercise or defence of legal claims.
22. Restrictions on the application of clauses 18 to 21
The operation of clauses 18 to 21 may be subject to restrictions imposed by the operation of laws enacted in Member states or the European Union.
Contact Person: Sarah Saad
Telephone: Australia: 1300 901 711 (Outside Australia: +61 2 8315 3472)
Email: info@coolabahcapital.com
