Privacy

1. Introduction

At Magellan Asset Management Limited (“Magellan”) your privacy is important to us.

This privacy policy explains how we collect, hold, use, disclose and protect personal information. 

2. Collection, use and disclosure of personal information

When you invest in a financial product that is offered by Magellan, personal information about you is collected and used to establish, administer and manage your investments. Magellan uses this personal information to maintain a record of your investment details and to communicate with you.

Magellan may disclose your personal information to:

  • organisations involved in providing investment administration, custody or others services;
  • any joint holder of an investment; and
  • parties to whom individuals have consented to the disclosure, which may include a licensed financial adviser or dealer group or a service provider.

Magellan uses third party investment administrators to support the administration of its financial products. Your personal information is disclosed and used by these investment administrators. Our investment administrators are Mainstream Fund Services and Link Fund Solutions. We have contractual arrangements with both administrators to ensure they comply with privacy laws when dealing with your personal information. You can access a copy of their privacy polices via the following links: Mainstream Fund Services and Link Fund Solutions.

For its listed financial products, Magellan uses Link Market Services and Boardroom Pty Limited to perform registry services. Both have been appointed under a contractual agreement to ensure they comply with privacy laws when dealing with your personal information. You can access copies of their privacy policies via the following links: Link Market Services and Boardroom.

Magellan also uses your personal information to comply with Anti-Money Laundering / Counter Terrorism Financing laws, Australian taxation laws and all other applicable laws; and discloses personal information to various law enforcement agencies, regulatory authorities and governments around the world, including the Australian Taxation Office and the Australian Transaction Reports and Analysis Centre.

Magellan may also be required to ask about your tax residency status under taxation information sharing agreements between the Australian and other countries. Specifically, under the Foreign Account Tax Compliance Act (a tax treaty between Australian and the United States), Magellan is required to collect additional personal information about US citizens and/or US tax residents who invest in Magellan’s financial products.

Personal information may also be used for secondary purposes such as for the provision of promotional and marketing material. Individuals can notify Magellan at any time if they do not wish to receive such materials or information. Where Magellan collects your personal information for a specific purpose not contemplated in this Privacy Policy, Magellan will provide you with a collection notice which explains the primary purpose and any related secondary purposes for which your personal information is being collected.

We do not actively seek to collect sensitive information (for example health information or information about any criminal record), unless it is necessary for our business purposes. If we do have to collect sensitive information, we will only collect, use and disclose it in accordance with privacy laws.

3. Accessing and correcting personal information

If you require access to, or wish to update your personal information, please contact our Privacy Officer:

Privacy Officer
Magellan Asset Management Limited
MLC Centre, Level 36, 19 Martin Place
Sydney, New South Wales, 2000

Tel: + 61 2 9235 4888
Email: privacy@magellangroup.com.au

If you believe that the personal information we hold is inaccurate, incomplete or out-of-date, you should contact us to correct this information.

We will endeavour to promptly update any personal information that is inaccurate, incomplete or out-of-date. If we do not agree that the personal information is inaccurate, incomplete or out-of-date, we will notify you in writing of our reasons to refuse any corrections. We will also notify you of what you can do if you are not satisfied with our response.

4. Protection of personal information

We take all reasonable steps to protect your personal information from misuse, loss, unauthorised access, interference, modification or disclosure.

We have physical, electronic and procedural safeguards to protect your information which is held by us. For example, your personal information is stored in secured office premises, in electronic databases requiring logins and passwords for access and/or at one of our secured warehouses. Access to information stored electronically is restricted to staff whose job purpose requires access. We require all staff to maintain the confidentiality of customer information.

We use secure methods to destroy or de-identify any personal information as soon as the law permits, provided the information is no longer needed by us for any purpose. Ordinarily, for information about a particular account, we destroy the information seven years from the date you close the account.

5. Complaints

If you have any questions, concerns or complaints about this privacy policy or our practices relating to the handling of personal information please contact our Privacy Officer:

Privacy Officer
Magellan Asset Management Limited
MLC Centre, Level 36, 19 Martin Place
Sydney, New South Wales, 2000
Tel: + 61 2 9235 4888
Email: privacy@magellangroup.com.au

We will try to answer any questions you may have, correct any error on our part or resolve any complaint that you may have about our information handling practices. If we do not resolve a complaint to your satisfaction, you may refer the matter to the Australian Information (Privacy) Commissioner (see www.oaic.gov.au).

1. Introduction

At Magellan Financial Group Limited (“Magellan”) your privacy is important to us.

This privacy policy explains how we collect, hold, use, disclose and protect personal information.

2. Collection, use and disclosure of personal information

Personal information about you is collected and used by Magellan to establish, administer and manage the administration of its issued securities.

Magellan uses third party service providers and your personal information is disclosed and used by these service providers. Magellan uses Boardroom Pty Limited to perform registry services and has contractual arrangements with Boardroom Pty Limited to ensure that it complies with privacy laws when dealing with your personal information. A copy of Boardroom Pty Limited’s privacy policy can be accessed through their website at www.boardroomlimited.com.au

Magellan also uses your personal information to comply with Australian taxation laws and all other applicable laws; and discloses personal information to various law enforcement agencies, regulatory authorities and governments.

Personal information may also be used for secondary purposes such as for the provision of promotional and marketing material. Individuals can notify Magellan at any time if they do not wish to receive such materials or information. Where Magellan collects your personal information for a specific purpose not contemplated in this Privacy Policy, Magellan will provide you with a collection notice which explains the primary purpose and any related secondary purposes for which your personal information is being collected.

We do not actively seek to collect sensitive information (for example health information or information about any criminal record), unless it is necessary for our business purposes. If we do have to collect sensitive information, we will only collect, use and disclose it in accordance with privacy laws.

3. Accessing and correcting personal information

If you require access to, or wish to update your personal information, please contact our Privacy Officer:

Privacy Officer
Magellan Financial Group Limited
MLC Centre, Level 36, 19 Martin Place
Sydney, New South Wales, 2000

Tel: + 61 2 9235 4888
Email: privacy@magellangroup.com.au

If you believe that the personal information we hold is inaccurate, incomplete or out-of-date, you should contact us to correct this information.

We will endeavour to promptly update any personal information that is inaccurate, incomplete or out-of-date. If we do not agree that the personal information is inaccurate, incomplete or out-of-date, we will notify you in writing of our reasons to refuse any corrections. We will also notify you of what you can do if you are not satisfied with our response.

4. Protection of personal information

We take all reasonable steps to protect your personal information from misuse, loss, unauthorised access, interference, modification or disclosure.

We have physical, electronic and procedural safeguards to protect your information which is held by us. For example, your personal information is stored in secured office premises, in electronic databases requiring logins and passwords for access and/or at one of our secured warehouses. Access to information stored electronically is restricted to staff whose job purpose requires access. We require all staff to maintain the confidentiality of customer information.

We use secure methods to destroy or de-identify any personal information as soon as the law permits, provided the information is no longer needed by us for any purpose. Ordinarily, for information about a particular account, we destroy the information seven years from the date you close the account.

5. Complaints

If you have any questions, concerns or complaints about this privacy policy or our practices relating to the handling of personal information please contact our Privacy Officer:

Privacy Officer
Magellan Financial Group Limited
MLC Centre, Level 36, 19 Martin Place
Sydney, New South Wales, 2000
Tel: + 61 2 9235 4888
Email: privacy@magellangroup.com.au

We will try to answer any questions you may have, correct any error on our part or resolve any complaint that you may have about our information handling practices. If we do not resolve a complaint to your satisfaction, you may refer the matter to the Australian Information (Privacy) Commissioner (see www.oaic.gov.au).

Dispute Resolution Process

At Magellan Asset Management Limited (“Magellan”) your feedback is important to us.

What to do if you have a complaint:

Magellan is committed to providing investors with the best possible service. If at any time you are dissatisfied with a service provided by Magellan, please contact us so we can work towards a resolution. 

How to make a complaint:

Magellan accepts all complaints made orally or in writing, formally or informally.

  1. Please contact our Complaints Officer using any of the following methods:
    Phone: +61 2 9235 4888
    Email: complaints@magellangroup.com.au
    Mail: Magellan Asset Management Limited, MLC Centre, Level 36, 19 Martin Place Sydney, NSW 2000
     
  2. Please provide full contact details to enable us to respond to you quickly.
     
  3. Please provide as much detail as possible regarding the nature of your complaint and any supporting documentation.

We will:

  • Provide you with a written receipt of the complaint immediately, or as soon as practicable.
  • Provide you with a final written response setting out Magellan’s proposed remedy as soon as possible, but in any event within 45 days of receiving the complaint.
     
  • Note: The requirement to provide a final response will not apply where the complaint is resolved to your satisfaction by the end of the fifth business day after the complaint is received and you have not requested a response in writing.

Keeping you informed:

We will keep you informed at regular intervals about the progress of our investigations and response.

Still not satisfied?

Magellan is a member of the Financial Ombudsman Service (“FOS”). If you believe that your matter has not been dealt with satisfactorily, you can contact FOS:

Phone: 1800 367 287
Mail: GPO Box 3, Melbourne VIC 3001. 

You can also visit their website for further information http://www.fos.org.au/ or email them at info@fos.org.au.