Privacy Policy

Privacy of your personal information

About this policy

PM Capital Limited (“PM Capital”, “we”) acts as the Responsible Entity for several managed investment schemes (collectively the ‘Schemes’) and various external mandates.

PM Capital recognises the importance of, and is committed to, protecting the privacy of individuals when handling their personal information. We consider that our behaviour in relation to privacy to be a reflection of our commitment to meeting high compliance and ethical standards.

The PM Capital Privacy Policy (‘Policy’) explains in an open and transparent manner how PM Capital will collect, hold, use, disclose, protect and otherwise handle our clients’ personal information in accordance with the Australian Privacy Principles contained in the Privacy Act 1988 (Cth).

When you provide PM Capital with personal information you consent to its use, disclosure and handling of your personal information in accordance with this Policy as amended from time to time.

A copy of this Policy it is available for download from our website, or a copy of the Policy can be obtained from us (free of charge) on request. Should you require a copy of this Policy it is available for download or we can post you a copy at your request. 

We may update this Policy from time to time to take into account changes in our practices for the handling of personal information, or to relevant legislation, by publishing an amended Policy on our Website. You should regularly review the most recent version of this Policy available on our Website. 

1.         THE AUSTRALIAN PRIVACY PRINCIPLES

The Australian Privacy Principles (APPs), which are contained in schedule 1 of the Privacy Act 1988 (Privacy Act), outline how PM Capital must handle, use and manage personal information.

While the APPs are not prescriptive, PM CAPITAL takes such steps as are reasonable in the circumstances to implement practices, procedures and systems relating to its business functions or activities that:

(a) will ensure that PM Capital complies with the Australian Privacy Principles and a registered APP code (if any) that binds us; and

(b) will enable PM Capital to deal with inquiries or complaints from individuals about our compliance with the Australian Privacy Principles or such a code.

The APPs cover:

  • the open and transparent management of personal information including having a privacy policy;
  • an individual having the option of transacting anonymously or using a pseudonym where practicable;
  • the collection of solicited personal information and receipt of unsolicited personal information including giving notice about collection;
  • how personal information can be used and disclosed (including overseas);
  • maintaining the quality of personal information;
  • keeping personal information secure;
  • right for individuals to access and correct their personal information.

There are also separate APPs that deal with the use and disclosure of personal information for the purpose of direct marketing (APP 7), cross-border disclosure of personal information (APP 8) and the adoption, use and disclosure of government related identifiers (APP 9).

1.1         What is personal information?

Personal information means information or an opinion about an identified individual, or an individual who is reasonably identifiable:

             (a)           whether the information or opinion is true or not; and

             (b)           whether the information or opinion is recorded in a material form or not.

Note: Section 187LA of the Telecommunications (Interception and Access) Act 1979 extends the meaning of personal information to cover information kept under Part 5-1A of that Act.

2.         PERSONAL INFORMATION COLLECTED AND HELD

PM Capital collects personal information directly from you (and/or through our intermediaries) for the purposes of providing to you our investment services and products. 

The kinds of personal information that we may collect and hold includes:

  • your name;
  • place and date of birth;
  • tax file number (and other international tax numbers);
  • email address;
  • home address;
  • telephone number(s);
  • the source of your funds/monies;
  • bank account details.

Where you do not provide us with some or all of your personal information that we request then we may not be able to provide you with our products or services. 

PM Capital may hold personal information collected in both physical and electronic storage facilities including paper-based files and computer databases. 

Electronic records are maintained by a cloud hosting service provider or other third party storage or server provider. All such personal information is maintained with in the effective control of PM Capital. We have arrangements which require third party service providers to maintain the security of the information and we take reasonable steps to protect the privacy and security of that information, however, we are not liable for any unauthorised access or use of that information. 

2.1          How is personal information collected?

Personal information may be collected by a variety of means, including by provision of completed Application Forms for our Schemes, in person, by telephone, letter, facsimile, or email. We may also collect personal information by subscribing to, or purchasing, marketing databases.

2.2          Internet and electronic data capture

PM Capital may use cookies, web beacons or similar technologies to collect de-identified information about your visits to our Website for the purpose of improving your experience browsing our Website.  As an example, should you visit our Website, PM Capital may collect information about your operating system, browser type, pages accessed, documents downloaded, any previous visits, any referring website, including dates and times.

If you disable cookies in your browsers our Website may not operate as it should.

Our online enquiry form on our Website also collects the personal information you enter. This information is used for the sole purpose of answering your enquiry.

3.         HOW PERSONAL INFORMATION IS USED AND DISCLOSED

PM Capital may use and disclose personal information collected and stored to enable us to provide the financial services and products to you and for other related legal purposes. Accordingly, we may need to disclose your personal information to others, as follows:

  • related entities: to related entities of PM Capital;
  • your financial adviser or your service providers: to your agent, nominated financial adviser or service providers, with your permission;
  • service providers under contract: who help with our financial services business operations included archival, auditing, legal, business consulting, banking, payment, delivery, data storage, data processing, data analysis, fund administration, registry, mailing, marketing, research, investigation, insurance, brokerage, maintenance, website and technology services – where we engage such services providers, our contracts provide that they may only use your personal information in connection with the services they perform for us;
  • law enforcement, government agencies or other third parties as required by law: when we need to comply with law or credit card rules, or when we believe that the disclosure of personal information is necessary to prevent harm or financial loss, to report suspected illegal activity or to investigate contraventions of our loan arrangements; and
  • credit bureaus, credit reporting agencies and collection agencies: to verify your identity by e-verification, or to obtain information about your source of funds.

3.1          Disclosure to overseas recipients

From time to time, PM Capital may disclose personal information to overseas recipients. These recipients may be in other countries where laws in relation to the processing of personal information are not consistent with the APPs or the Privacy Act. 

Nevertheless, under in APP 8.1 we are generally required to implement reasonable steps to ensure that an overseas recipient does not breach the APPs. In this regard we will enter into an enforceable contractual arrangement with the overseas recipient that requires the recipient to handle the personal information in accordance with the APPs (other than APP 1).

While PM Capital may take steps to try and ensure that these third parties do not breach the APPs in relation to your personal information, the overseas recipient may breach the Privacy Act and/or the Privacy Principles and this may be due to that countries own laws. 

By providing us with your personal information you accept that we may make disclosures to overseas recipients on this basis.

3.2          Disclosure by approval

We will only use or disclose your information for the particular purpose for which it was collected, unless an exception applies. Exceptions include:

  • you have consented to a secondary use or disclosure;
  • you would reasonably expect the use or disclosure, and that is related to the primary purpose of collection or, in the case of sensitive information, directly related to the primary purpose;
  • the use disclosure of the personal information is required or authorised by or under an Australian law or a court/tribunal order;
  • a permitted general situation exists in relation to the secondary use or disclosure of the personal information by the us;
  • we reasonably believe that the use or disclosure is reasonably necessary for one or more enforcement related activities conducted by, or on behalf of, an enforcement body.

Under APP 8.27, PM Capital may disclose personal information to an overseas recipient without complying with APP 8.1 where:

  • we expressly inform you that if they consent to the disclosure, this principle will not apply, and
  • you consent to the disclosure.

4.         PROTECTING YOUR PERSONAL INFORMATION

PM Capital takes all reasonable steps to protect your personal information it holds from misuse, interference and loss, and from unauthorised access, modification or disclosure using both physical and electronic security measures.

By providing us with your personal information by email, over the Internet, you accept that such information will be transmitted at your own risk as the security of such information cannot be guaranteed.

5.         RETENTION OF PERSONAL INFORMATION

As required by APP 11.2, we take reasonable steps to destroy or permanently de-identify personal information if it is no longer needed for any purpose for which the information may be used or disclosed under the Privacy Act.

Despite this we are further obligated under the Corporations Act (2001) (Cwth) to keep financial records for at least 7 years after the transactions covered by the records are completed. Accordingly, client records are retained for the period required (being at least 7 years) to allow us to satisfy our obligations under the Corporations Act.

6.         ACCESS, CORRECTION AND COMPLAINTS

You may contact PM Capital during normal business hours to request that we provide you with access to any of your personal information held by us. We will deal with your request to provide access to your personal information within 30 days as required by this Policy and law. You should promptly notify us if you become aware that any of your personal information held is inaccurate, out-of-date, incomplete, irrelevant or misleading.

If you have any concerns about whether we have complied with this Policy, or the Privacy Act, please contact us as follows:

Compliance Manager
PM Capital Limited

Address:  Level 27, 420 George Street
Sydney NSW 2001
Email: pmcapital@pmcapital.com.au
Telephone: +612 8243 0888
Fax: +612 8243 0880

Our Compliance Manager will investigate your complaint and advise you of the outcome. If you are not satisfied with our response you can complain to the Office of the Australian Information Commissioner as follows:

The Privacy Commissioner
Office of the Australian Information Commissioner

Address:  GPO Box 5218
Sydney NSW 2001
Email: enquiries@oaic.gov
Telephone: 1300 363 992 (within Australia only)
Fax: +61 2 9284 9666

Continuous Disclosure

As part of our continuous disclosure obligations under the Corporations Act, we follow ASIC's ‘good practice guidance for website disclosure’.

This means that all material information for unitholders will be posted on this page as soon as practicable after we become aware of it.

 

30 June 2016
FUND NOTICE
Re: RG 240 Hedge funds: Annual disclosure 

This document breaks down the above components for the PM CAPITAL Funds as at 30 June 2016.

If you require an explanation as to any of these calculations please do not hesitate to contact Lachlan Cameron on 02 8243 0888 or email lcameron@pmcapital.com.au .

 

30 June 2015
FUND NOTICE
Re: RG 240 Hedge funds: Annual disclosure 

This document breaks down the above components for the PM CAPITAL Funds as at 30 June 2015.

If you require an explanation as to any of these calculations please do not hesitate to contact Lachlan Cameron on 02 8243 0888 or email lcameron@pmcapital.com.au .

 

19 January 2015

FUND NOTICE

We wish to advise that PM CAPITAL Limited has today changed is registered address and principal place of business:

FROM  -  Level 24, 400 George Street,  SYDNEY NSW 2000 

TO       -  Level 27, 420 George Street,   SYDNEY NSW 2000

All other contact details remain unchanged. 

 

22 December 2014

FUND NOTICE

Re: RG 240 Hedge funds: Improving disclosure 

In October 2013 ASIC released Regulatory Guide 240 Hedge funds: Improving disclosure. This new regulatory standard aims to assist investors in making more informed decisions about investing in hedge fund products, and to make comparisons between the products and business models of different funds more straightforward.

We are supportive of the enhanced disclosure requirements, and are committed to ensure that investors have all the information they need to make an informed investment decision. 

Under RG 240 the PM CAPITAL Funds have been classified as hedge funds. This classification is based on the fact that the Funds exhibits two or more of the characteristics of a hedge fund, being they:

  • aim to generate returns that are not highly correlated to published indices;
  • charge a performance fee;
  • use leverage;
  • use derivatives; and/or
  • use short selling.

Although our Funds are technically classified as hedge funds, the use of exotic instruments does not form a large component of our investment process and we focus the majority of our attention on fundamental stock picking on the long side. We have been implementing the same philosophy and process of, ‘buying a good business at a good price’ since the inception of the firm in 1998, and this has not wavered.  

What does this mean? 

Annually we will provide investors with a breakdown of the following;

  • the liquidity profile of the portfolio assets as at the end of the period;
  • the maturity profile of the liabilities as at the end of the period;
  • the leverage ratio (including leverage embedded in the assets of the fund, other than listed equities and bonds);
  • the derivative counterparties engaged; and
  • the key service providers and any change in their related party status.

This document within the below link breaks down the above components for the PM CAPITAL Funds as at 30 June 2014.

If you require an explanation as to any of these calculations please do not hesitate to contact Lachlan Cameron on 02 8243 0888 or email lcameron@pmcapital.com.au.

 

10 September 2014

FUND NOTICE

We wish to advise of pending amendments and/or updates for

  • PM CAPITAL Absolute Performance Fund (ARSN 092 434 618, APIR Code PMC0100AU);
  • PM CAPITAL Emerging Asia Fund (ARSN 130 588 439, APIR Code PMC0002AU);
  • PM CAPITAL Australian Opportunities Fund (ARSN 092 434 467, APIR Code PMC0101AU);
  • PM CAPITAL Enhanced Yield Fund (ARSN 099 581 558, APIR Code: PMC0103AU) (collectively the “Funds”) as follows:

We intend to change the name of the fund, as follows:

PM CAPITAL Absolute Performance Fund

will become

PM CAPITAL Global Companies Fund

PM CAPITAL Emerging Asia Fund

will become

PM CAPITAL Asian Companies Fund

PM CAPITAL Australian Opportunities Fund

will become

PM CAPITAL Australian Companies Fund

The name of the PM CAPITAL Enhanced Yield Fund (ARSN 099 581 558) will remain unchanged.

There will also be further amendments to the Funds guidelines and allowable assets, you can view the full details of these changes within in the links below.

Global Companies Fund (Absolute Performance Fund)

Asian Companies Fund (Emerging Asia Fund)

Australian Companies Fund (Australian Opportunities Fund)

Enhanced Yield Fund

 

Summary

The amendments for the Funds, as summarised above, will become effective on the lodgement of updated Constitutions and the issue of a new Product Disclosure Statement expected by early October 2014. 

We remain vigilant in executing our investment process with the objective of delivering long-term absolute capital growth for our investors. Our investment philosophy and process remains the same as it was at inception in 1998, and we look forward to continuing this in the many years ahead.

The following table summarises the name of the PM CAPITAL investment options going forward, the APIR codes will remain the same:

Asset Class

Unlisted-Managed Fund

ASX-listed Invesment Company

Global Equities

Global Companies Fund

Global Opportunities Fund Limited

Asian Equities

Asian Companies Fund

Asian Opportunities Fund Limited

Australian Equities

Australian Companies Fund

 

Yield

Enhanced Yield Fund

 

If you have any questions or would like to discuss this further, please contact PM Capital.

26 June 2014

FUND NOTICE

PRODUCT DISCLOSURE STATEMENT - DATED 25 JUNE 2013

We advise that effective from the close of business on 31 July 2014, PM CAPITAL Limited (ABN 69 083 644 731, AFSL 230222) as responsible entity for the:

  • PM CAPITAL Absolute Performance Fund, ARSN 092 434 618
  • PM CAPITAL Emerging Asia Fund, ARSN 130 588 439
  • PM CAPITAL Australian Opportunities Fund, ARSN 092 434 467
  • PM CAPITAL Enhanced Yield Fund, ARSN 099 581 558

(collectively the “Funds”), will no longer provide for, or allow, the ‘repurchase of units’ as a means for any unit holder to exit their unit holding in the Fund(s).

For the avoidance of doubt, all unit holders will continue to be able to exit their unit holding through the normal daily redemption process which remains entirely unchanged.

After 31 July 2014, all withdrawal requests will only be processed as a redemption and not as a repurchase.

Unit holders who may have considered the repurchase option as their preferred means of exiting the Funds in the future should have regard to this impending change particularly with respect to any change in the tax consequences that may be applicable.

Resources

Resources