Privacy
Privacy & Data Protection Policy
Meridian Asset Management Limited (MAM), of Lumen Square, Suite 504, Shivachi Road, Nairobi, as manager of the Selective Alpha Multi-Asset Special Fund (the Fund), is the data controller in respect of your personal data. This section is provided, so far as practicable before your data is collected, in accordance with the Data Protection Act, 2019 (the Act). By completing and submitting any form on this website you give the confirmations and consent set out in clause 9. For any data protection query, or to exercise your rights, contact us at invest@meridian.co.ke.
1. Personal data we collect
We collect, generate and hold personal data about you and persons connected to you (such as joint holders and next of kin), including: identity and contact details; identification and verification documents (national ID or passport, KRA PIN, photograph and proof of address); financial information, including source of funds and wealth, bank and settlement details, and your holdings in the Fund; tax status and residency; the results of anti-money-laundering, know-your-customer and sanctions, politically-exposed-person and adverse-media screening; and any further information reasonably required to administer your investment or meet our legal obligations. Some of this information including certain financial, property or family details, or information that may constitute sensitive personal data under the Act, may be processed on the basis of your explicit consent (clause 9) and where otherwise permitted by the Act. Where you provide data about other individuals, you confirm that you are authorised to do so and have informed them of this section.
2. Why and on what basis we process your data
We process your data to assess your eligibility and process your subscription; to administer your investment; to comply with our legal and regulatory obligations (including anti-money-laundering and counter-terrorism-financing requirements, know-your-customer and sanctions screening, tax reporting and the requirements of the Capital Markets Authority); to maintain records and manage risk, audit and the operation of the Fund; and to communicate with you. Depending on the processing activity, we rely on one or more of the following lawful bases: compliance with a legal obligation; the performance of, and steps prior to entering, our contract with you; MAM’s legitimate interests in managing the Fund; and where required under the Act, your consent. A substantial part of our processing is required by law.
3. Automated screening and profiling
To meet our anti-money-laundering, sanctions and related obligations, certain checks on you and connected persons (including sanctions, politically-exposed-person and adverse-media screening) may involve automated processing, including profiling. Any decision that produces legal effects for you, or similarly significantly affects you – such as declining or redeeming your investment – is subject to human review and is not taken solely by automated means.
4. Provision of your data is mandatory
Providing the data requested, now and on an ongoing basis, is a condition of investing in the Fund. If you do not provide it, or it is inaccurate, incomplete or out of date, MAM will be unable to accept your subscription or, if you are already admitted, to lawfully maintain your investment, and may be required to redeem your units.
5. Sharing your data, and transfers outside Kenya
Subject to appropriate confidentiality and data-protection safeguards, we may disclose your data to: the Fund’s Trustee and Custodian; the Fund’s administrator and registrar; screening service providers; banks, brokers, counterparties and settlement agents; auditors and legal, tax and other professional advisers; our information-technology and software providers; companies affiliated with MAM; regulators, tax authorities and law-enforcement agencies (including the Capital Markets Authority, the Kenya Revenue Authority and the Office of the Data Protection Commissioner) where required or permitted by law; and any other third party where necessary to fulfil the purposes described in this section or to comply with our legal obligations. Some recipients may be located outside Kenya; where we transfer your data abroad we do so only where the conditions of the Act are met, including where appropriate safeguards are in place, the transfer is necessary to perform our contract with you or to comply with a legal obligation, or you have consented. Where a transfer is made on the basis of your consent, you should be aware that the destination country may not provide a level of data protection equivalent to that in Kenya, and by consenting you accept the possible risks of the transfer.
6. Security and retention
We maintain appropriate technical and organisational measures to protect the integrity and confidentiality of your data. We retain personal data only for as long as is necessary for the purposes above and to meet our legal obligations; records required under anti-money-laundering and tax laws are kept for the periods those laws prescribe (generally at least seven years after the end of our relationship with you), after which they are securely deleted, destroyed or anonymised unless a longer retention period is required by law or for the establishment, exercise or defence of legal claims.
7. Your Rights
Under the Act you have the right to: be informed of the use of your data; access the data we hold about you; object to its processing in whole or in part; restrict its processing in certain circumstances; receive a copy of the data you have provided in a structured, commonly used format (data portability); have inaccurate or misleading data corrected; and request the deletion of false or misleading data about you. You may withdraw any consent at any time (which does not affect processing carried out before withdrawal, or processing on a basis other than consent), and you may lodge a complaint with the Office of the Data Protection Commissioner. To exercise any right, contact us at invest@meridian.co.ke.
8. Effect of objecting to, restricting or deleting your data
These rights are not absolute. Where MAM must process your data to comply with a legal or regulatory obligation, to administer your investment, or to establish or defend legal claims, it may continue to do so and may decline your request to that extent. If you object to, restrict or request the deletion of data that MAM needs to meet its fund-management, anti-money-laundering, tax, regulatory or contractual obligations, MAM will be unable to lawfully maintain your investment and may be required to compulsorily redeem your units in accordance with the redemption provisions of the Fund’s constitutive and offering documents, while retaining such data as it is legally obliged or permitted to keep. The same applies where withdrawal of consent prevents MAM from meeting these obligations.
9. Consent and declaration
By completing and signing this Subscription Form, I/we confirm that I/we have read and understood this section and:
(a) Consent. I/we consent to MAM collecting, using, storing, processing and sharing my/our personal data (and that of connected persons I/we have provided), including any sensitive personal data described in clause 1, for the purposes described in this section. Where required under the Act, I/we consent to the transfer of such personal data outside Kenya, including to jurisdictions that may not provide a level of protection equivalent to that available under Kenyan law, and acknowledge the risks described in clause 5.
(b) Confirmation. I/we confirm that, where I/we have provided personal data relating to any other individual, I/we am/are authorised to provide that data to MAM and have informed them of this section.
(c) Acknowledgement. I/we acknowledge and understand the consequences in clauses 4 and 8, including that MAM may be unable to accept, maintain or continue my/our investment where personal data required for legal, regulatory, contractual or operational purposes is not provided or cannot lawfully be processed.
I/we understand that any consent provided under this section may be withdrawn at any time by contacting MAM. Withdrawal of consent shall not affect the lawfulness of processing undertaken before such withdrawal and may affect MAM’s ability to continue providing services where the processing is necessary to comply with legal, regulatory or contractual obligations.