POLICY ON PERSONAL INFORMATION AND ELECTRONIC COMMUNICATIONS

21 May 2018

This policy tells you about two things. First, it is a privacy notice and tells you how we will use the personal information we collect from you.  Second, it contains important information for you to be aware of us when communicating with us electronically.

When we use the term “GenerationIM”, “we” and “us” below, we are referring to Generation Investment Management LLP, a limited liability partnership formed in England as well as its affiliates throughout the world including: Generation Investment Management US LLP, a United States based limited liability partnership. Generation Investment Management LLP is the data controller in respect of personal information collected from you.

 

PRIVACY NOTICE

  1. Privacy of your information

We appreciate that you, or a third party on your behalf, has provided us with your personal information.  Obtaining personal information from our individual and corporate clients is central to our goal of providing exceptional service.  However, we understand that in receiving this information, you expect us to treat it in an appropriate manner.

This policy is designed to provide you with further details on the type of information that we may collect about you, the purposes we might use that information for and the actions we take to safeguard your information. 

  1. Where we may collect information from

We will gather information from a number of sources.  Typically, it is primarily drawn from applications to open an account with GenerationIM directly or with one of the funds operated by it (a “GenerationIM Fund”). Please note that by investing in a GenerationIM Fund, you authorise that fund to release information about you to GenerationIM.  As a fund investor, you may but will not necessarily be a client of Generation directly.  If you are unclear as to your status as a client of GenerationIM, please contact our General Counsel.

We will also collect information from you if you contact us directly, for example if you submit a query via our website. After an account is established and/or as our business relationship develops, we may gather further information from you as you transact with us or the GenerationIM Funds or make servicing requests of us.

In addition to the information provided directly by you, we may gather information about you from third parties for the purposes of providing our services.  This includes other persons that you may instruct to assist you with your dealings with GenerationIM or a GenerationIM Fund, for example, your professional advisers, custodian or investment manager.  We may also seek information from credit and individual reporting agencies about you.  Third parties may be asked to undertake due diligence about you to assist us in respect of our responsibilities to combat financial crime, to ensure we are in compliance with applicable sanctions regimes, as well as helping us establish and maintain client relationships which we believe are in the best interests of both Generation and its clients.

In accordance with our legal obligations under UK and European Union (‘EU’) financial services regulations we may record communications with you, including telephone calls. We may also monitor your e-mails.  We will do this in a proportionate manner and always in accordance with applicable laws and regulations designed to protect your privacy in this sensitive area.  Typically we would not access your information regularly in this way.  Rather, it will be used for compliance, internal control or security purposes to help us comply with our legal and regulatory obligations and as evidence of transactions.

We may also collect information from publically available sources so that GenerationIM can research potential investment opportunities and understand developments in the market. This could include, for instance, information about the management and other personnel at a company which GenerationIM may be interested in investing in. It could also include the personal information of industry experts who provide insight and market analysis to GenerationIM. 

Lastly, we may use close circuit television and recording systems in our offices to protect our staff and physical assets.  The owners of the buildings we occupy may operate similar systems.  As a result, your physical image may be captured by us on our premises.

  1. The type of information we may collect

If you deal with GenerationIM or a GenerationIM Fund in an individual capacity or as the settler or trustee of a trust or the owner of an investment vehicle established on your behalf or that of your family, we may collect the following types of personal information about you.

 

Type of Information

Examples

Personal Details

Name, age, occupation and relationship status.

Contact Details

Address, telephone, fax and email (both private and work related).

Identity Documents

Passport, national identity card, armed forces identity document, driver’s licence, gun licence.

Personal Identifiers

Social Security Number, National Insurance Number, Tax File Number, Taxpayer Identification Number.

Photographs

A head and shoulders photograph of you from one of the identity documents specified.

Video Images and Audio

CCTV pictures and audio, recordings of phone conversations, presentations given by you to or with Generation.

Financial Information

Your source of wealth, investment experience, investment objectives, tolerance of risk and certain representations required under applicable law or regulation or Generation internal policies concerning your financial resources.

Your Personal History

Information about your current or former employers, education, business activities, affiliations, roles and responsibilities.

Your Browsing Information

Internet protocol (IP) address, information about your visit to the site such as the pages you visited and clickstream to and from our site.

 

If you deal with GenerationIM in the capacity of an officer, employee, director and or principal of one of our corporate or institutional clients the typical personal information we collect about you would additionally include your role/position/title and area of responsibility and your authority.

Of course, except as otherwise agreed in particular contexts with us, you are not required to supply any of the personal information that we may request from you.  However, please note that failure to supply such information may result in you being unable to open or maintain an account with GenerationIM or a GenerationIM Fund. It may limit the services we can provide to you or your company.  While we make reasonable efforts to ensure that all information we hold about you is accurate, complete and up to date, you can help us in this regard by promptly notifying us if there are any changes to your personal information.  In certain cases, this is of such importance that we will ask you to represent that you will do so.

  1. How we use your information

We may use your personal information in a range of different ways.

 

Activity

Details

Account Opening

We, or funds operated by us, will use your personal information to set up your account facilities.  Examples would include entering your name as shareholder, compliance with our regulatory “know your customer” obligations and ensuring we have the correct records to comply with our tax reporting obligations.

Contact Details

We will maintain records of your contact details and the manner in which you wish to be contacted, for example, by phone, fax, post or e-mail.

Reporting

We may use personal information to provide you with details of your account or your investment in a Fund operated by us including issuing confirmations and periodic statements.

Provision of Research and Other Services

We may use personal information to provide you with information (such as investment research), recommendations or generic advice concerning your account or products offered by GenerationIM. We may also use personal information to provide you with a service you have requested, for example, when you register to attend a GenerationIM event.

Provision of Advice

On express agreement with GenerationIM that it is to provide this service to you, we may use the information to form the basis of any personal recommendation or advice we offer.

Provision of Discretionary Investment Management

On express agreement with GenerationIM that it is to provide this service to you, we may use the information to inform any discretionary investment management activities we undertake on your behalf.

Marketing

We may use your information to contact you about our products and services, unless you tell us you would prefer not to be contacted in this way using the address below.

Internal Controls and Processes

We may use personal information to facilitate our internal business operations, including assessing and seeking to manage risk as well as fulfilling our legal and regulatory requirements.

Compliance Matters

We may use personal information to carry out various compliance checks as required by law, regulation or GenerationIM’s or its service providers (including those of GenerationIM Funds) internal policies and procedures.  Such policies are designed to review creditworthiness, guard against money laundering or fraud and to ensure compliance with sanctions regimes.  We may also use personal information to help us determine appropriate client relationships by reviewing political affiliations and records of criminal offences committed or alleged to have been committed and searching media databases.

Regulator Interaction

We may use personal information to ensure compliance with our regulatory notification and reporting requirements anywhere in the world (including national and international regulatory bodies and other law enforcement agencies).

Litigation

If we are subject to a court action or other proceedings or require, to the extent necessary, to exercise and defend our legal rights we may be required to use your personal information.

Recording

We may record (visual and audio) and/or monitor communications, (including: cctv, e-mail, instant messaging, facsimile, telephone and other electronic communications), with you or your agent(s) for compliance, internal control and security purposes and as evidence of transactions.

Research

We may use personal information which has been collected from publically available sources in order to carry out market research and to identify potential investment opportunities. This could include the personal information of the management or key personnel at a company GenerationIM is considering investing in and/or could include the personal information of industry experts.

 

  1. Legal basis for processing your information

GenerationIM relies on the following legal bases under European data protection laws to process your personal information:

  • The processing is necessary to enable GenerationIM to perform, or enter into, a contract with you. For example, so that we can open and maintain you accounts with Generation or accounts with a GenerationIM Fund. 
  • You have consented to the processing of your personal information. This basis will apply where you have consented to GenerationIM sending you email marketing.
  • The processing is in GenerationIM’s legitimate interests to operate and improve our business as a global investment management firm. For instance, where GenerationIM uses information about our client base to gain insights and improve and update our products and services and/or where we process personal information to conduct market research to identify potential investment opportunities.
  • The processing is necessary to comply with a legal obligation GenerationIM is subject to. As GenerationIM operates in a highly regulated industry there are situations where we will need to process your personal information to comply with the law, for example, where we conduct fraud and anti-money laundering checks or record phone calls.

 

  1. When we will disclose your information within GenerationIM

In order to service you better, and reflecting the globally integrated nature of our business, more than one entity within GenerationIM may be given access to your personal information.  For example, our UK entity might share your information with our US entity in order to facilitate your instructions or the maintenance of your accounts.  At the date of this policy, GenerationIM has established offices in the United Kingdom, the United States and Australia.  It may in the future open offices in other jurisdictions and will transfer your personal information between such present and future offices.  In doing this, we will adhere to applicable legal and industry standards regarding the protection of personal information but the jurisdictions concerned may not have data protection laws as strict as those in your home country.  By submitting your personal information you agree to the transfer of your personal information, including to the UK and US. All of GenerationIM’s entities will treat your personal information in accordance with this policy and if we transfer your personal information from the UK or the European Economic Area (‘EEA’) to another jurisdiction we will comply with our obligations under applicable law. Please contact us if you would like more information about these transfers.  

  1. When we will disclose information to persons outside GenerationIM

GenerationIM only discloses your personal information to third parties in accordance with this policy.  We may provide your personal information to non-affiliated companies that perform support services for your account or to a GenerationIM Fund operated by us - this includes any outsourcing arrangements made by GenerationIM in respect of its business.

If we are transacting as agent on your behalf, we may disclose your personal information to third parties such as settlement agents, counterparties, banks or exchange or clearing houses to whom we disclose in the course of providing products and services to you.  We may also disclose personal information to persons who provide professional, legal or accounting services to us.  In addition, we may also disclose your personal information to fulfil your instructions, to protect our rights and interests and those of our business partners or otherwise with your consent. We may also disclose personal information about you in the event of a purchase of our business or assets by a third party.

Lastly, in a limited range of circumstances, we may disclose your personal information to third parties in accordance with applicable laws and regulations or pursuant to internal policies and procedures designed to facilitate compliance with such laws and regulations.  Examples of this would be: when responding to a writ or similar legal process; cooperation with law enforcement or regulatory authorities or with organisations such as exchanges and clearinghouse; making enquiries designed to assist with our client identification programme; prevent fraud or other financial crime.  Non-affiliated companies that assist GenerationIM or a GenerationIM Fund in providing services to you are required to maintain the confidentiality of such information and to use it only in the course of providing such services and for the purposes that GenerationIM specifies.

These third parties may operate from locations outside the European Economic Area (‘EEA’),and the US.  Again, some of these jurisdictions may not have data protection laws as strict as those in your home country. If we transfer your personal information from the UK or the EEA to another jurisdiction we will comply with our obligations under applicable law. Please contact us if you would like more information about these transfers.

  1. Marketing

GenerationIM will not sell, rent or trade your personal information nor will it pass it on to third parties for their marketing purposes without your prior consentGenerationIM may occasionally, in accordance with applicable laws, contact you by post, telephone, electronic mail or facsimile with details of products and services, including GenerationIM Funds, that we believe may be of interest to you.  If you do not wish to be contacted in this way, please write to our General Counsel at the address below or click on the ‘unsubscribe’ link in the email. If you unsubscribe from marketing, please note we may still contact you with service messages from time to time, for example, relating to information about your account or investments.

  1. How we protect the privacy of your information

We endeavour to protect your personal information at all times.  Primarily, we do this by utilising appropriate access controls to those data, so that only authorised Generation employees or agents and our third party service providers have access.  We subject such third parties to confidentiality obligations.  In addition, we maintain physical, electronic and procedural safeguards intended to protect your information against loss, misuse, damage or modification and unauthorised access or disclosure.  Those policies and procedures include educating those working for or on behalf of Generation on information security policies and responsibilities.

  1. How long will we keep your information?

GenerationIM will keep your personal information for as long as we need it for the purposes set out above (see section 4). This means the period for which your personal information is retained will vary depending on your interactions with us. For example, where you are a GenerationIM client and have an account with us we will keep information relating to your account for the period necessary to meet our regulatory obligations, for instance the tax and reporting requirements we are subject to. We will also keep information for as long as is necessary to protect us from a legal claim.  Where we no longer have a need to keep your personal information, we will delete it. Please note that where you unsubscribe from our marketing communications, we will keep a record of your details to ensure we do not send you marketing emails in future.

  1. What rights do you have under European data protection laws?

You have certain specific rights provided under European Union ("EU") data protection law in respect of your personal information, including the right to access, correct, request the erasure of and obtain a copy of your personal information  and in some limited circumstances you may have a right to object to our processing of your personal information. We will deal with any such requests in accordance with applicable law. Please be aware, however, that there are a number of limitations to these rights and there may be circumstances where we are not able to comply with your request. If you wish to exercises one of these rights you can do so by written request to our General Counsel at the address set out below.

In the case of a request to exercise one of the rights listed above in relation to your personal information you may be asked to supply a valid means of identification as a security precaution to minimise unauthorised disclosure.  We will process your request within the time provided by applicable law, which in the UK is one calendar month (although this can be extended to two months in certain circumstances).

If you have any questions or concerns regarding GenerationIM’s handling of your personal information, you should contact our General Counsel using the details below. You are also entitled to contact the Information Commissioner’s Office (‘ICO’) or your local supervisory authority for data protection.

  1. Cookies

Cookies are small text files that are placed on your computer by websites that you visit.  They are widely used in order to make websites work, or work more efficiently, as well as to provide information to the owners of the site.  The website of Generation Investment Management utilises cookies for the purposes of managing our website and to understand and measure its performance. You may delete and block all cookies from this site, but parts of the site will not work.

Most web browsers allow some control of most cookies through the browser settings. To find out more about cookies, including how to see what cookies have been set and how to manage and delete them, visit www.allaboutcookies.org.

  1. Ending your relationship with Generation

If your relationship with GenerationIM or a GenerationIM Fund ends, we will continue to treat your personal information, to the extent we retain it, in accordance with this policy as updated from time to time. Please see section 10 above for further details on how long we may retain your personal information.

 

IMPORTANT INFORMATION ON ELECTRONIC COMMUNICATIONS

  1. Confidentiality

When you receive an e-mail or other forms of electronic communication from GenerationIM, please be aware the information contained in or accompanying that communication may be confidential, subject to legal privilege, or otherwise protected from disclosure and (unless it expressly states otherwise) it is intended solely for the use of the intended recipient.  If you receive a communication from GenerationIM and you are not the intended recipient of the communication, please delete it and destroy all copies in your possession, notify us that you have received the communication in error and note that any review or dissemination of, or the taking of any action in reliance on, any such electronic communication sent in error is expressly prohibited.

  1. Right to request traditional delivery

If you have requested electronic delivery of any information, you have the right to request paper copies of any information that is sent to you electronically at any time after the consent noted below.  No additional fees are charged for requesting paper copies after consenting to electronic delivery and, thereafter, you will receive paper copies.

  1. Risk of interception, viruses and defects

Electronic communications may contain computer viruses or other defects, may not be accurately replicated on other systems or may be intercepted, deleted or interfered with without the knowledge of the sender or the intended recipient.  GenerationIM makes no warranty in relation to these matters.  As a result, it may be that you are not comfortable with the risks associated with e-mail messages and other forms of electronic communication.  If that is the case, please get in touch with your Generation contact and we will be pleased to arrange another means of communication with GenerationIM.

  1. Prohibition on publication and alteration of information

Unless you have the express written consent of GenerationIM, you are not permitted to publish, transmit, or otherwise reproduce any information received from GenerationIM, in whole or in part, in any format to any third party.  In addition, you are not permitted to alter, obscure, or remove any copyright, trademark or any other notices that are provided to you in connection with the information.  GenerationIM reserves the right, at any time and from time to time, in the interests of its own editorial discretion and business judgement to add to, modify, or remove any of the information delivered to you.

  1. GenerationIM’s rights in respect of information

Unless there is express written agreement with GenerationIM to the contrary, no information sent to you is intended to, and will not, transfer or grant any rights in or to that information and all rights not expressly so granted herein are reserved by GenerationIM or, if applicable, the third party providers from whom GenerationIM has obtained the information.

  1. No warranties made as to content; responsibilities to update

Neither GenerationIM nor its third party providers make any warranty, express or implied, concerning electronic communication.  If you elect to receive electronic communications, that is at your sole risk.  GenerationIM expressly disclaims any implied warranty of satisfactory quality or fitness for a particular purpose, including any warranty as to the use or the results of the use of information with respect to its correctness, quality, accuracy, completeness, reliability, performance, timeliness, or continued availability.

  1. Content not to be construed as a solicitation or recommendation

Unless it expressly agreed between the parties to the contrary, material provided electronically is for information purposes only without regard to the particular recipient’s investment objectives, financial situation, or means.  GenerationIM is not soliciting any action based upon it.  Any such material is not to be construed as a recommendation, or an offer to buy or sell, or the solicitation of an offer to buy or sell any security or financial product in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal.  You should neither construe any of the material contained in an electronic communication as legal, regulatory, tax, or accounting advice nor make the Services the primary basis for any investment decisions made by you or your advisers.

  1. No representations made as to other sites or links

Our electronic communications may provide links to certain Internet sites ("Sites") maintained by third parties.  In this case, GenerationIM is providing such links solely as a convenience to you.  Accordingly, GenerationIM makes no representations concerning the content of the Sites.  The fact that Generation has provided a link to the Sites does not constitute an endorsement, authorisation, sponsorship, or affiliation by GenerationIM with respect to the Sites, their owners, or their providers.

CHANGES TO OUR POLICY

This policy provides a general overview of the ways in which we use your personal information and important information on electronic communication. Please be aware that we may request certain further confidentiality arrangements be put in place in respect of your interaction with us, especially when we believe there is a risk such information could be material price sensitive information.  This policy may be changed from time to time to reflect changes in our practices concerning the collection and use of personal information, or where required to comply with applicable law.  The revised policy will be effective immediately upon posting to our website, and so please check this policy periodically for changes.

This version of the Policy is effective 21 May 2018.

 

CONTACT

General Counsel Generation Investment Management LLP 20 Air Street London United Kingdom W1B 5AN

legal@generationim.com