General Terms and Conditions
- Units are traded at the daily ruling prices and will be repurchased by Cytonn Asset Managers Limited in accordance with the Capital Markets (Collective Investment Schemes) Regulations, 2001 and on terms and conditions set out in the relevant Trust Deed.
- Unit prices may go up as well as down.
- Completed application forms and notification of deposits/cleared funds must be received for the investment to be executed. Subscriptions monies in cleared funds received will be dealt with on the next Dealing Day.
- The investor and/or his/her financial advisor shall at all times be responsible for ensuring that the unit trust and its representatives receive any instructions from the investor and/or financial advisor, whether by facsimile or mail and that such instructions are complete and correct in all respects.
- Investors are reminded that in certain specified circumstances their right to redeem their units may be suspended.
- No third-party cheques are allowed. Payments made by a third party on behalf of an investor will need to be supported by further documentation.
- Once an account has been opened, a statement of investment will be sent by post or e-mail to the investor on a monthly basis.
- All transaction charges on purchasing securities shall be borne by the Fund and not the Fund Manager.
DATA PROTECTION & PRIVACY
1. Nature of data collected from the Client:
Cytonn seeks to collect data from the client, to enable effective management of the client’s account(s). The data collected shall include;
a) Details as per the National Identity Card;
b) KRA tax pin and certificate;
c) phone number; and
d) any other data as may be required thereafter.
2. Consent of Client
Cytonn Investments shall inform the client the purpose for which the personal data is sought or collected. The personal data shall only be used for the purpose for which it was collected. Prior to any other usage that is incompatible with the initial purpose for which the personal data was
collected, Cytonn shall seek fresh consent from the client. The client retains the right to withdraw the consent to the whole, or part of the data processing.
3. Access of personal data
The client reserves the right to access their data at any given time. Any such request shall be made formally through Cytonn’s client services’ email- clientservices@cytonn.com. Cytonn shall comply with any such request within seven days of receipt of the request.
4. Preservation of Data
In case the client completes, or terminates any business relationship held with Cytonn, Cytonn reserves the right to preserve the client’s data for a minimum period of 7 years, or such longer as may be deemed necessary.
5. Sensitive personal data and processing
Sensitive personal data means data revealing the natural person’s race, health status, ethnic social origin, conscience, belief, genetic data, biometric data, property details, marital status, family details including names of the person’s children, parents, spouse or spouse, sex or the sexual orientation of the client. Such data shall not be availed to any person/s, entities or organization, unless consented to by the Client.
6. Commercial use of personal data
Cytonn shall use the client’s personal data, other than sensitive personal data, for the purpose of direct marketing where-
a) Cytonn has collected the personal data from the client;
b) The client is notified that direct marketing is one of the purposes for which the personal data is collected; and
c) The client has consented to the use or disclosure of the personal data for the purpose of direct marketing
7. Opt-out option
Cytonn provides a simplified opt-out mechanism for the client to request not to receive any direct marketing communications. Any such opt-out requests from the client shall be actioned within 24 hours of receipt.
8. Request for erasure, deletion, or rectification
The client may request Cytonn to rectify their personal data, which is untrue, inaccurate, outdated, incomplete or misleading. Any such application may be supported by such documents as may be relevant to the rectification sought
The client may request Cytonn to erase or destroy personal data held by it where:
a) The personal data is no longer necessary for the purpose for which it was collected;
b) The client withdraws their consent that was the lawful basis for retaining the personal data;
c) The data subject objects to the processing of their data and there is no overriding legitimate interest to continue the processing;
d) The processing of personal data is for direct marketing purposes and the individual objects to that processing;
e) Any other reasons that may be deemed necessary Cytonn shall respond to any such requests for erasure, deletion or rectification within fourteen
days of the request. Notwithstanding the above, in the case of a minor or a person who has a mental incapacity, a right conferred on such a data subject may be exercised by:
a) A person who has a parental authority over the minor; or
b) A person who is a guardian to the minor
c) A person duly authorized to act as the guardian where the data subject has a mental incapacity
9. Exemptions.
Subject to the prevailing provisions in the Constitution, Data Protection Act, and Regulations, client’s personal data shall only be availed to a third party without the client’s consent if it qualifies to be an exemption for national security, particularly on processing of personal data by a national security organ in furtherance of their mandate.
