Privacy Policy

Last updated on the 18th July 2023

Praude Asset Management Limited (C 48324) (the “Company”) is established under the laws of Malta with registered address at Level 14, Portomaso Business Tower, Portomaso, St Julian’s, STJ 4011, Malta (“We”/”Us”/”Our”).

We are committed to respecting your privacy. If you wish to contact Us about Our privacy practices, please feel free to do so by post at the above registered address or by email at info@praude.com.mt. You may also wish to contact Us by telephone on +356 21374313.

Please read this Privacy Notice carefully to understand Our practices with respect to your Personal Data.

References to “Data Controller”, “Data Subject”, “Personal Data”, “Process”, “Processed”, “Processing”, “Data Protection Officer” and “Data Processor” in this policy have the meanings set out in, and will be interpreted in accordance with the applicable laws. “Applicable Laws” shall mean the relevant data protection and privacy laws, including but not limited to, the Data Protection Regulation (EU) 2016/679, and the Data Protection Act, Chapter 586 of the Laws of Malta and subsidiary legislation thereto, as may be amended from time to time.

The General Data Protection Regulation (EU) 2016/679 (GDPR) and the Data Protection Act (Cap 586) regulate the processing of personal data whether held electronically or in manual form. Our Privacy Policy is set to fully comply with the Data Protection Principles as set out in such data protection legislation.

1. Updates We may update this Privacy Notice in Our sole discretion including as result of a change in Applicable Law or processing activities. Any such changes will be communicated to you prior to the commencement of the relevant processing activity. 
2. What Amounts to Personal Data? The term “Personal Data” refers to all personally identifiable information about you, such as your name, surname and address, and includes all personal information which may be processed and that can be identified with you personally.  The type of Personal Data that We typically collect include categories such as but not limited to: 
   • Your first name and last name, postal address, email address, telephone number, nationality, date of birth, gender, identity document type and identity document number, tax domicile, employment status or occupation;
   • Compliance and Know Your Customer (“KYC”) Data;
   • Account and portfolio data; 
   • Transaction Data and Transaction Information; 
   • Payment Data;
   • Technical Data such as your IP address and cookies; 
   • Marketing and Communications Data; and
   • Call and other Recordings.
   In certain instances, We may be required to Process categories of Personal Data which are referred to as ‘Special Categories of Personal Data’ under Applicable Laws.  Such special categories include data revealing your: 
   • Racial or ethnic origin; 
   • Political opinions; 
   • Religious or philosophical beliefs; or
   • Trade union membership;
   As well as the Processing of (i) genetic data; (ii) biometric data for the purpose of uniquely identifying a natural person (iii) data concerning health or (iv) data concerning your sex life or sexual orientation.  We typically do not Process such special categories of Personal Data.  However, in the event that We do, We ensure that We have appropriate technical and organisational security measures in place to protect these types of data and We also make sure that We have identified an appropriate lawful basis of Processing such Personal Data under article 9 of the GDPR.   
3. How Do We Collect Personal Data? We are Data Controllers of your Personal Data and shall process your Personal Data for any purpose in connection with any mandate that you may have entered into with Us to provide investment service that We are licensed to provide.Generally, third parties such as nominees, Our clients and business partners, may have provided your Personal Data to Us. However, in some instances, We may collect Personal Data about you from third party sources, such as online searches or from public registers. There may also be instances where you would have provided your Personal Data directly to Us such as when you have contacted Us via Our contact form on Our website.We typically collect Personal Data and Process it for the following purposes:
   • as part of Our client engagement/onboarding procedures including all Personal Data collected in the process leading up to entering into an agreement with us;
   • if expressly requested by yourselves, when assisting you with the compilation and submission of the subscription form to invest in any of the funds We manage including any information supplied in the subscription documents or in connection therewith and any documents or information which you supply to Us for the purposes of your investment in any funds We manage;
   • Any information supplied to Us when assisting you with any redemption, switch or additional subscription of units in any of the funds We manage, when expressly required by yourselves;
   • to provide you with statements and/or reports insofar as required by law;
   • for the detection and prevention of fraud and other criminal activity which We are legally bound to report;
   • for the development and improvement of Our systems, products and services
   • when you or your company (as the case may be) transfer Personal Data to Us;
   • Personal Data that We may process as a result of legal obligations imposed on Us, including (amongst others) MiFID II (Directive 2014/65/EU), the AIFMD (Directive 2011/61/EU), money-laundering detection and reporting, obligations under FATCA and CRS, and other obligations imposed upon UUs in terms of applicable law;
   • any Personal Data lawfully generated by Us in relation to your mandate with Us; 
   • any Personal Data which you may voluntarily provide to Us;
   • for safety and security purpose insofar as necessary or required, including (amongst others) safety of Our premises, property and employees/officers, and the establishment, exercise or defence of legal claims; and
   • for purposes of a legitimate interest pursued by Us or by a third party, provided such interest is not overridden by your interests, fundamental rights and freedoms
   Irrespective of the manner that We have collected your Personal Data, We will only Process such data for any purpose in connection with your mandate with Us or, when requested by yourselves, in respect of your Investment in the funds We manage and/or purposes which are inherently related thereto, including the fulfilment of any legal or regulatory obligation imposed on Us.
    
4. Legal Bases for Processing Personal Data The legal bases for processing your Personal Data are the following:
   • Entering into an agreement with Us whereby you engage Us to provide you with investment services (pursuant to Our licence). Such Personal Data is necessary for Us to provide you with such services. The consequence for not carrying out such Processing is that you would not be able to avail of Our services.
   • Our (or a third party’s) legitimate interests – in particular legitimate interests which may arise directly or indirectly in relation to your instructions and in keeping you updated with information in relation to the funds that We manage. We also have a legitimate interest to process your Personal Data for safety and security. When We Process your Personal Data on the basis of Our or a third party’s legitimate interests, We ensure that the legitimate interests pursued by Us or the third party are not overridden by your interests, rights and freedoms;
   • Your explicit consent – in which case, Our processing shall be limited to the purposes specifically indicated when your consent was requested. For example, requesting Our assistance with the compilation and submission of the subscription forms and redemption forms, switching forms in respect of any investment in one of the funds We manage. You are not required to pass on such Personal Data to Us yet should you require Our assistance We would not be able to assist you without such information;
   • Compliance with legal obligations imposed on Us – in particular as a result of MiFID II (Directive 2014/65/EU), AIFMD (Directive 2011/61/EU), money-laundering detection and reporting, obligations under FATCA and CRS, and other obligations imposed upon Us in terms of applicable law;
   • When you contact Us via Our website www.praude.com.mt; and
   • When you contact Us voluntarily in other circumstances such as when seeking employment or traineeship with Us or seeking to attend a firm organised or sponsored event.
   On the basis of Our or a third party’s legitimate interests or compliance with legal obligations, as applicable, We may also process your Personal Data for the purposes of establishing, exercising or defending legal proceedings.We may also rely on your consent if you would like Us to retain your Personal Data for the purposes of being contacted with future potential job openings of interest or if you expressly request Our assistance with the compilation and submission of subscription forms, redemption form, switching form or other documents in relation to any of the funds that We manage. 
5. Recipients of Your Personal Data We may share your Personal Data with third party recipients who are:
   • selected individuals within Our Company, on a need-to-know basis;
   • our affiliates;
   • any service providers that may have access to your Personal Data in rendering Us with their support services, including IT, audit, legal, tax, registered office, company secretarial and accounting service providers;
   • third parties to whom disclosure may be required as a result of your mandate with Us;
   • any business partners to whom you may have requested that We transfer your Personal Data;
   • third parties to whom disclosure may be required as a result of legal obligations imposed on Us;
   • your beneficiaries, intermediaries, correspondent and agent banks; and,
   • appointed Administrators, Portfolio Managers, Depositaries, Compliance Officer, Money Laundering Reporting Officer, Prime Brokers and/or Investment Managers respectively (insofar as same are appointed from time to time), as Our Data Processors for the collection, storage and processing of Personal Data relating to prospective investors and shareholders.
   Unless specifically instructed and consented by you, We do not share your Personal Data with any entity located outside of the EU or EEA. 
6. Automated Decision-Making & Profiling Your Personal Data will not be used for any decision solely taken on the basis of automated decision-making processes, including profiling, without human intervention.In the steps leading up to your investment in the funds that We manage and during Our relationship with you, We may collect information from you in order to, amongst others, comply with Our obligations and/or for any other purpose connected the services provided to you. We may Process such Personal Data on the basis of and/or pursuant to the performance of the mandate We have and/or the performance of Our obligations at law. As stated, no automated-decision will result from Our use of such systems. 
7. Data Retention We retain your Personal Data exclusively for the period which is lawfully permissible to retain your Personal Data. Thereafter, your Personal Data shall be immediately and irrevocably destroyed.If We have a contractual relationship with you, We typically retain your Personal Data for up to five (5) years from the end of Our contractual relationship on the basis of Our legitimate interests to protect ourselves from civil cases which you might institute against Us in relation to Our contractual relationship.Invoices, credit notes and similar transactional documents or information will be kept by Us for up to nine (9) years from completion of the relevant transaction on the basis of legal obligations imposed on Us to retain such information.We may have a legitimate interest to hold your data for longer periods such as when your data is required for exercising or defending legal claims.Any Personal Data which We may hold on the basis of your consent shall be retained exclusively until when you withdraw your consent.We will retain your Personal Data, when requested to assist with the compilation of any subscription forms, or other forms in relation to an investment in the funds We manage, until your investment is redeemed.Thereafter, your Personal Data shall be destroyed, unless We have a statutory obligation imposed on Us, a business need to retain the Personal Data, and/or require the Personal Data to exercise or defend legal claims. 
8. Your Rights You are entitled to know, free of charge, what type of information the Company holds and processes about you and why, who has access to it, how it is held and kept up to date, for how long it is kept, and what the Company is doing to comply with data protection legislation. All data subjects have the right to access any personal information kept about them by the Company, either on computer or in manual files.For as long as We retain your Personal Data, you have certain rights in relation to your Personal Data including:
   • Right of access – you have the right to ascertain the Personal Data We hold about you and to receive a copy of such Personal Data;
   • Right to complain – you have the right to lodge a complaint regarding the processing of your Personal Data with the supervisory authority for data protection matters. In Malta this is the Information and Data Protection Commissioner (contact details provided below);
   • Right to Erasure – in certain circumstances you may request that We delete the Personal Data that We hold about you;
   • Right to Object – you have a right to object and request that We cease the processing of your Personal Data where We rely on Our, or a third party’s legitimate interest for processing your Personal Data;
   • Right to Portability – you may request that We provide you with certain Personal Data which you have provided to Us in a structured, commonly used and machine-readable format (except where such Personal Data is provided to Us in hand-written format, in which case such Personal Data will be provided to you, upon your request, in such hand-written form). Where technically feasible, you may also request that We transmit such Personal Data to a third party controller indicated by you;
   • Right to Rectification – you have the right to update or correct any inaccurate Personal Data which We hold about you;
   • Right to Restriction – you have the right to request that We stop using your Personal Data in certain circumstances, including if you believe that We are unlawfully processing your Personal Data or the Personal Data that We hold about you is inaccurate;
   • Right to withdraw your consent – where Our processing is based on your consent. Withdrawal of your consent shall not affect the lawfulness of the processing based on your consent prior to the withdrawal of your consent; and,
   • Right to be informed of the source – where the Personal Data We hold about you was not provided to Us directly by you, you may also have the right to be informed of the source from which your Personal Data originates.
   Please note that your rights in relation to your Personal Data are not absolute and We may not be able to entertain such a request if We are prevented from doing so in term of an applicable law. Your identification details such as ID number, name and surname have to be submitted with the request for access. The Company will aim to comply as quickly as possible with requests for access, and in any case, not later than 1 month from receipt of request, unless there is a good reason for the delay. When a request for access cannot be met within a reasonable timeframe, the reason will be explained in writing to the data subject making the request. All data subjects have the right to request that their information is amended, erased or not used in the event the data results to be incorrect.You may exercise the rights indicated in this section by contacting Us at the details indicated above.In case you are not satisfied with the outcome of your access request, you may refer a complaint to the Information and Data Protection Commissioner:Level 2, Airways House,High Street,Sliema SLM 1549Telephone: 2328 7100Email: idpc.info@gov.mt 
9. Cookies Our website uses cookies which are pieces of information that a website transfers to your computer’s hard disk or to your browser’s memory for record-keeping purposes. They are useful because they help arrange the content and layout of Our site and allow Us to recognize those computers or other devices that have visited Our sites before. For example, We may monitor how many times you visit the website, which pages you go to, traffic data, location data and the originating domain name of a user’s internet service provider. They also allow Our website to remember your preferences thereby helping Us to enhance the usability and performance of Our site and your experience while using it. Cookies do not personally identify users but they simply identify a user’s computer or other device.You can set your browser to refuse all or some browser cookies, or to alert you when websites set or access cookies. If you disable or refuse cookies, please note that some parts of this website may become inaccessible or not function properly.

   Service Provider	Cookie Name	Expiration (when will the cookie be deleted from your computer)	Purpose of the Cookie	Is the cookie essential for the website to work	Who controls and accesses the cookie information
   www.praude.com.mt	__utmb	30 minutes	Used to determine new sessions/visits. The cookie is created when the javascript library executes and no existing __utmb cookies exists. The cookie is updated every time data is sent to Google Analytics	Non-essential	Google Analytics
   www.praude.com.mt	__utmt	10 minutes	Used to throttle request rate.	Non-essential	Google Analytics
   www.praude.com.mt	__utma	2 years	Used to distinguish users and sessions. The cookie is created when the javascript library executes and no existing __utma cookies exists. The cookie is updated every time data is sent to Google Analytics.	Non-essentia	Google Analytics
   www.praude.com.mt	__utmz	6 months	Stores the traffic source or campaign that explains how the user reached your site. The cookie is created when the javascript library executes and is updated every time data is sent to Google Analytics.	Non-essential	Google Analytics
   www.praude.com.mt	__utmc	Session	Not used in ga.js. Set for interoperability with urchin.js. Historically, this cookie operated in conjunction with the __utmb cookie to determine whether the user was in a new session/visit.	Non-essential	Google Analytics
   www.praude.com.mt	ASP.NET_SessionId	Session	To identify the user’s session on the server.	essential	www.praude.com.mt

   Most browsers are initially set to accept cookies. However, if you prefer, you can set your browser to block all, or certain, cookies. Please be aware that without cookies you may not be able to use the full functionality of Our site. Users can also set their browser to prompt them each time a cookie is offered. You can find a guide on how to block cookies in the main browsers below:Delete Cookies in Microsoft Internet ExplorerDelete Cookies in Mozilla Firefox browserDelete Cookies in Google Chrome browserDelete flash cookies (all browsers) 
10. Keeping Your Data Secure We shall implement and maintain appropriate and sufficient technical and organisational security measures, taking into account the nature, scope, context and purposes of the processing as well as the risk of varying likelihood and severity for the rights and freedoms of natural persons, to protect your Personal Data against any unauthorised accidental or unlawful destruction or loss, damage, alteration, disclosure or access to Personal Data transmitted, stored or otherwise processed and shall be solely responsible to implement such measures.We shall ensure that Our staff who process your data are aware of such technical and organisational security measures and We shall ensure that such staff are bound by a duty to keep your Personal Data confidential.The technical and organisational security measures in this clause shall mean the particular security measures intended to protect your Personal Data in accordance with any privacy and data protection laws. 
11. Complaints If you have any complaints regarding Our Processing of your Personal Data, please note that you may contact Us on any of the details indicated above.Dr. Antonia Zammit, Data Protection Officer Antonia.zammit@praude.com.mtTel: +356 21 374313Praude Asset Management LimitedLevel 14, Portomaso Business Tower,St. Julians, STJ 4011MaltaYou also have a right to lodge a complaint with the Office of the Information and data Protection Commissioner in Malta (www.idpc.gov.mt).Level 2, Airways House,High Street,Sliema SLM 1549Telephone: 2328 7100Email: idpc.info@gov.mt 
12. Where You Provide Us with Personal Data Related to Third Party Data Subjects If you are a company, intermediary or other corporate entity (including a bank or broker), and you provide Us with Personal Data of third party Data Subjects such as your employees, affiliates, service providers, underlying clients/customers, directors or any other individuals connected to your business, you shall be solely responsible to ensure that:
    • you immediately bring this Privacy Notice to the attention of such Data Subjects and direct them to it;
    • the collection, transfer, provision and any Processing of such Personal Data by You fully complies any applicable laws;
    • as Data Controller You remain fully liable towards such Data Subjects and shall adhere to the Applicable Law;
    • you collect any information notices, approval, consents or other requirements that may be required from such Data Subject before providing Us with their Personal Data;
    • you remain responsible for making sure the information you give Us is accurate and up to date, and you must tell Us if anything changes as soon as possible.
    You will indemnify Us and shall render Us completely harmless on first written demand against all costs, damages or liability of whatsoever nature resulting from any claims or litigation (instituted or threatened) against Us as a result of your provision of said Personal Data to Us. 
13. Third Party Links Our Website may contain links to third-party web sites or services that are not owned or controlled by us or our affiliated companies.We have no control over, and assume no responsibility for, the content, privacy policies, or practices of any third party web sites or services. You further acknowledge and agree that we shall not be held responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such web sites or services.We strongly advise you to read the terms and conditions and privacy policies of any third-party web sites or services that you visit.