Terms and Conditions

I/we confirm and agree that my/our account(s) and all investment transactions between me/us (“the Customer”) and Stanbic IBTC Asset Management Limited (“the Fund Manager”) shall be governed by the conditions specified below and/or the terms of any specific agreement between me/us and the Fund Manager or where not regulated by either the conditions or such agreement, by the relevant laws of the Federal Republic of Nigeria:

Disclaimer

The products and services on this website are offered by Stanbic IBTC Asset Management Limited, a wholly owned subsidiary of Stanbic IBTC Holdings PLC, only in jurisdictions where and when they may lawfully be offered and the product and services are not intended for use by persons subject to, located in or resident in jurisdictions which restrict the use of these product and services. While the Fund Manager attempts to ensure that the contents on the website are accurate, current, complete, fit for its intended purpose and compliant with relevant Nigerian legislations and regulations as at the date of issue, Stanbic IBTC Asset Management Limited makes no representation or warranty, whether express or implied, as to the operation, integrity, availability or functionality of this website or as to the accuracy, completeness or reliability of any information on this website. I/we agree that every transaction executed on this website is made with the knowledge that I/we are aware of the risks relating to such transactions and I/we permit the Fund Manager to regard all activities I/we conduct or instructions sent after I/we enter my/our passwords and/or access codes as being authorized by me/us and the Fund Manager shall not be held liable for any fraud that may occur based on the Fund manager's decision to act on this authority. Stanbic IBTC Asset Management Limited will not accept any responsibility for information contained in any other sites which can be accessed by hypertext link from any pages of the website or for these sites not being available at all times. Please remember that past performance of any of the Stanbic IBTC Mutual Funds is not necessarily an indication of its future performance. The value of units and the income from these investments can decrease as well as increase and I/we may not get back the amount originally invested. Also changes in the exchange rate may result in investments made by investors resident abroad to decrease or increase. For further details on any of the Stanbic IBTC Mutual Funds, please read the relevant information on the website.

Access Code

An Access Code refers to my/our password and user name. I/we must protect and keep my/our Access Codes confidential at all times. I/we agree to comply with the terms of the products and services on the website and any other reasonable instructions or recommendations provided by the Fund Manager or advised regarding the use and security of the product and services. I/we agree that it is my/our sole responsibility to set up, maintain and regularly review security arrangements concerning access to and use of the products and services on the website and information stored on my/our computing and communications systems, and control of passwords, security devices and access to the website.

It is not safe to store access codes on your computer or on a network. The Fund Manager relies on me/us to report any compromise of my/our access codes without delay. I/we may do this by contacting the Fund Manager’s Customer Care Centre or nearest office. Stanbic IBTC Asset Management Limited may ask me/us to verify my/our identity to prevent someone else from impersonating me/us.

Once notified, the Access Code is disabled and the Fund Manager is authorised to reject any instructions received after such notification until the Access Code is enabled.

One Time Password

A unique and time sensitive Password is used as added security when I/we access our account(s) on the website. This Password does not replace the Access Code used to log on to the Website but provides an additional layer of security. This Password will be sent to you via SMS and/or email and is valid for the particular online session only.

Limitation of liability

Stanbic IBTC Asset Management Limited, as well as its affiliates, shareholders, employees, consultants, and agents. Although we have taken care to ensure that the contents provided on the website is accurate, and that I/we suffer no loss or damage as a result of using it, the website is provided 'as is' and the Fund Manager shall not be liable for any damages whatsoever, relating to your use of the Website, products or services. Stanbic IBTC Asset Management Limited shall in no way be liable for any direct, indirect, incidental, special or consequential loss or damages which might arise from the use of or reliance upon,any material or content available on the Website or any linked websites, even if the Fund Manager has been advised of the possibility of such loss, expense, claim or damages. The Fund Manager not be liable for:

1. Any damages suffered as a result of a compromise of my/our password and / or access codes;
2. Any interruption, malfunction, downtime or other failure of the Website, third party systems, databases or any component part thereof for whatever reason;
3. Any interruption, malfunction, downtime or other failure of services provided by third parties, including, without limitation, third party systems such as the public switched telecommunication service providers, internet service providers, local authorities and certification authorities;
4. Any event over which it has no direct control. I/we hereby indemnify the Fund Manager against all losses, costs, claims or damages which I/we or the Fund Manager incurs in respect of any third party arising from my/our use of this Website and the unauthorized instructions executed on my/our behalf which were not due to the Fund Manager’s negligence.

Sanctions

I/we acknowledge that you are obliged to comply with the international sanction laws and regulations issued by OFAC, EU, UN, HMT (as well as local laws and regulations). Therefore, I/we agree that the Fund Manager reserves the right to terminate this agreement with me/us without liability on its part and it has no obligation to make any payment under, or otherwise to implement this agreement if I/we violate any OFAC, EU, UN and HTM sanctions or there is involvement by any person (natural, corporate or governmental) listed in the OFAC, EU, UN, HMT or local sanctions lists, or any involvement by or nexus with Cuba, Sudan, North Korea, Iran or Myanmar or such other countries as may be included from time to time in the sanctions list, or any of their governmental agencies.

I/we hereby specifically indemnify and hold the Fund Manager harmless against any and all liability, losses or damages of whatsoever nature (whether direct, indirect and/or consequential), which I/we may suffer as a result of any and all investments in my/our account being frozen, blocked and/or seized or which I/we may suffer as a result of any claim, demand and action made against it. For avoidance of doubt, I/we waive and renounce all rights, actions or circumstances whatsoever which might constitute a defense. I/we hereby waive any rights which I/we may have or obtain against the Fund Manager arising directly or indirectly from any losses or damages of whatsoever nature which I/we may suffer in consequence of contravention of OFAC, EU, UN and HMT sanctions or any law/regulation prohibiting money laundering/financing of terrorism in Nigeria.

For purposes of No. xx above, "OFAC, EU, UN and HMT sanctions mean sanctions imposed from time to time by Office of Foreign Assets Control of the Department of Treasury of the United States of America ("OFAC"), European Union ("EU"), United Nations ("UN") and Her Majesty's Treasury of the United Kingdom ("HMT") relating to, but not limited to entities, parties, shipping lines. Carriers, vessels, multimodal transport operators, freight forwarders, agents at the port of discharge and agents of any related party.

Foreign Currency Account Tax Compliance Act

I/We understand that as part of your obligations in compliance with the United States’ (US) Foreign Currency Account Tax Compliance Act (FATCA), financial institutions and banks, including the Fund Manager are required to obtain my/ our tax related information to determine whether my /our account is a US Account, account held by a Recalcitrant Account holder, or Non-Participating Financial Institution or bank.

I/We provide the Fund Manager my /our consent to:

1. obtain from me /us such tax related information as is necessary and in the format determined by the Fund Manager to determine whether I / we fall within any of the above categories, in which case my /our demographic and transactional data (as determined from time to time by the US Internal Revenue Service (“IRS”)), will be reportable by the Fund Manager to the IRS;
2. Disclose my /our information (as referred to in paragraph (a) above) to Withholding Agents if and when required under the FATCA regulations;
3. withhold on any payments of US Source Income received by me /us to the extent not already done by any other Withholding Agent (note that the maximum withholding that may apply to impacted US source income under FATCA is 30%); and
4. close, block or transfer my/our account within 90 days of a request for my/our tax related information (in the format determined by it), being outstanding.”

Definitions:

1. US Account means, an account held by a US citizen, US tax resident, or an account having a substantial US owner that is a Specified US person as defined in FATCA,US treasury regulation§1.1471.
2. Recalcitrant Account means any account with US indicia that has not provided any requested documentation evidencing the account holder’s FATCA status or classification.
3. Non-Participating Foreign Financial Institution means any financial institution or bank that has not registered with the IRS to enter into a Foreign Financial Institution Agreement and is not otherwise exempt as a certified-deemed compliant financial institution or bank or exempt beneficial owner.
4. US Source Income means fixed or determinable annual or periodic income from sources within the US as defined in FATCA, US treasury regulation §1.1473-1(a)(2).
5. Withholding Agent means a financial institution or bank empowered to withhold US Source Income in terms of an agreement with the US.

Data Protection

1. I/we consent to the Fund Manager collecting my/our Personal Information from me/us and where lawful and reasonable, from public sources for credit, fraud and compliance purposes, as well as the purposes set out below.
2. If I/we give the Fund Manager Personal Information about or on behalf of another person (including, but not limited to, account signatories, shareholders, principal executive officers, trustees and beneficiaries), I/we confirm that I/we are authorised to: (a) give the Fund Manager the Personal Information; (b) consent on their behalf to the Processing of their Personal Information, specifically any cross-border transfer of Personal Information into and outside the country where the products or services are provided; and (c) receive any privacy notices on their behalf.
3. I/we consent to the Fund Manager Processing my/our Personal Information:
   1. to provide products and services to me/us in terms of this agreement and any other products and services for which I/we may apply;
   2. to carry out statistical and other analyses to identify potential markets and trends, evaluate and improve our business (this includes improving existing and developing new products and services);
   3. in countries outside the country where the products or services are provided. These countries may not have the same data protection laws as the country where the products or services are provided. Where the Fund Manager can, it will ask the receiving party to agree to its privacy policies;
   4. by sharing my/our Personal Information with third-party service providers, locally and outside the country where the products or services are provided. The Fund Manager will ask people who provide the services to agree to our privacy policies if they need access to any Personal Information to carry out their services; and
   5. within the Standard Bank Group.
4. I/we will find the Fund Manager’s Processing practices in the Standard Bank Group’s and its privacy statements. These statements are available on the Standard Bank Group’s websites or on request.
5. If I/we are unsure about my/our tax or legal position because my/our Personal Information is processed in countries other than where I/we live, you should get independent advice.

Marketing and Promotion

Provided I/we have agreed to the above Data Protection Clause, the Fund Manager may use my/our personal or other information to share information with me/us on new products and services that may be of interest to me/us and from time to time will mail, email or SMS information to me/us on its products and services, or its partners and their products and services. If you do not wish to continue receiving this information, you may contact us and request that your information be deleted from the mailing list.

Privacy Statement

If I/we choose to complete any of the on-line forms the personal information I/we provide will be used by the Fund Manager to enable it to answer my/our queries and to provide me/us with information about the products and services that are of interest to me/us. It may also be used to monitor the progress of any enquiry and to register any subsequent sale of any of our products or services which you have enquired. The Fund Manager may also use such information to update the website and keep me/us informed of further product information and site developments if I/we have indicated any such preference.

If I/we have appointed a financial adviser to act on my/our behalf, I/we will make details of my/our investment available to the appointed person and also send copies of correspondence to them where appropriate to enable them give me/us advice. The personal information I/we provide to the Fund Manager will be kept confidential. The Fund Manager will not sell or transfer the personal information provided to third parties outside the Standard Bank group for the purposes of marketing products or services to me/us. Agents and contractors of the Standard Bank group who are given access to the personal information that I/we provide will be required to keep this information confidential and not to use it for any purpose other than to carry out the services they are providing to the Standard Bank group.

My/our personal data shall not be used or disclosed in any manner incompatible with the purposes for which they are held save that circumstances may arise when the Fund Manager is required to disclose this personal information to third parties for purposes other than to support my/our customer relationship with it, such as in a corporate divestiture or dissolution where the Fund Manager sells all or a portion of its business or assets (including our associated customer lists containing my/our personal information), or if disclosure is required by law or is pertinent to judicial or governmental investigations or proceedings.

Termination and Amendments

Stanbic IBTC Asset Management Limited may in its sole discretion terminate, suspend and modify the products, services and this Website and/or my/our use of this Website, with or without notice to me/us. I/we agree that the Fund Manager will not be liable to me/us in the event that it chooses to suspend, modify or terminate this Website or my/our use of this Website. The Fund Manager is authorized and regulated by Securities & Exchange Commission as an investment adviser and portfolio manager.

By clicking on the 'I AGREE' button or SIGNING THE FORM you shall be deemed to have accepted and agreed to be bound by the terms of this Important Legal Notice. The terms and conditions stated above shall be governed and construed in accordance with Nigerian Law and I/we agree that any proceedings arising out of or in connection therewith may be brought in the High Court of Justice and we irrevocably submit to such Court’s jurisdiction.

Data Protection

1. You consent to us collecting your Personal Information from you and where lawful and reasonable, from public sources for credit, fraud and compliance purposes, as well as the purposes set out below.

2. If you give us Personal Information about or on behalf of another person (including, but not limited to, account signatories, shareholders, principal executive officers, trustees and beneficiaries), you confirm that you are authorised to: (a) give us the Personal Information; (b) consent on their behalf to the Processing of their Personal Information, specifically any cross-border transfer of Personal Information into and outside the country where the products or services are provided; and (c) receive any privacy notices on their behalf.

3. You consent to us Processing your Personal Information:

• to provide products and services to you in terms of this agreement and any other products and services for which you may apply;
• to carry out statistical and other analyses to identify potential markets and trends, evaluate and improve our business (this includes improving existing and developing new products and services);
• In countries outside the country where the products or services are provided. These countries may not have the same data protection laws as the country where the products or services are provided. Where we can, we will ask the receiving party to agree to our privacy policies;
• By sharing your Personal Information with our third-party service providers, locally and outside the country where the products or services are provided. We ask people who provide services to us to agree to our privacy policies if they need access to any Personal Information to carry out their services; and
• Within the Group.

4. You will find our Processing practices in the Group’s and our privacy statements. These statements are available on the Group’s websites or on request.

5. If you are unsure about your tax or legal position because your Personal Information is processed in countries other than where you live, you should get independent advice

I/We hereby authorize Stanbic IBTC Asset Management Ltd to honour for and to debit my/our current Stanbic IBTC Mutual Funds including any reclassification or renumbering of the investments specified herein as well as any other investments that I/We may subsequently establish and operate with Stanbic IBTC Asset Management Limited (“the Investment”)in line with any and all payment instructions received in my/our name in accordance with the agreed mandate for the operation of the Investment which mandate it received in a format which bears or purports to bear the electronic scan or electronic mail signature of the person(s) whose specimen signature(s) are from time to time provided by me/us in relation to the mandate for the Account and where Stanbic IBTC Asset Management Ltd honoured such instructions in such circumstances prior to the date hereof its actions in that regard are hereby rectified confirmed and approved

That Stanbic IBTC Asset Management Ltd is authorised to honour for and to the debit the Investment any and all payment instructions/confirmations issued or provided by me/us using the format for such instructions/confirmation agreed with Stanbic IBTC Asset Management Ltd and which format includes but is not limited to written instructions/confirmation and where such instructions/confirmations are given in writing may be given by letter, electronic scan, or electronic mail as provided above and where Stanbic IBTC Asset Management Ltd has honoured any written instructions/confirmations in such circumstances prior to the date hereof its actions in that regard are hereby rectified confirmed and approved.

That I/we hereby authorize Stanbic IBTC Asset Management Ltd to honour for and to the debit the Investment any and all redemption instructions that are in such amounts as may from time to time fall within the category of redemption instructions for which confirmations are not required and where such requests are honoured, in the absence of fraud or negligence by Stanbic IBTC Asset Management Ltd or any of its employees, Stanbic IBTC Asset Management Ltd shall not be held liable for compiled with and/or did not actually emanate from me/us.

That all authorizations given by me/us and certified to Stanbic IBTC Asset Management Ltd as currently governing the operation of the Investment are hereby continued in full force and effect except as the same may have been supplemented or modified by the terms of this authorization. authorization unless and except this authorization is revoked or modified by any subsequent authorization issued by me/us and a copy of such subsequent authorization has been received by Stanbic IBTC Asset Management Ltd.

I/We understand, acknowledge and are aware that electronic scan, electronic mail and verbal communications are insecure transmission media. I/We hereby agree and undertake to indemnify Stanbic IBTC Asset Management Ltd in full for any loss Stanbic IBTC Asset Management Ltd may suffer or incur by reason of honouring such instructions via electronic scan, electronic mail, verbal communications, or other formats agreed between me/us with Stanbic IBTC Asset Management provided Stanbic IBTC Asset Management has taken all measures prescribed by its internal policies and practices to verify the authenticity of such communications irrespective of whether same are in fact erroneous fraudulent or issued otherwise than as aforesaid. This Indemnity shall remain valid and binding on me/us throughout the period that the Account is maintained and operated by me/ us with Stanbic IBTC Asset Management Limited.

By clicking I/we accept, we hereby authorize the processing of electronic mail instructions and confirmations on my/our Investment, i/we hereby declare that I have read and fully understand this Indemnity and agree and consent to be bound by the terms of this indemnity as updated from time to time.