About these Terms and Conditions
These Terms and Conditions encompass all of Farringdon Asset Management Services and Products in one comprehensive document. The terms and conditions applicable to each client will depend on the Services and/or Products provided to that client.
These Terms and Conditions are reviewed and updated regularly.
Should you have any questions, please contact your Investment Manager or Relationship Manager
These Terms and Conditions are comprised of:
General Terms and Conditions, applicable to all Services and Products
Terms outlined in this document shall not supersede the terms set forth in the management agreement relating to investment management fees or other bespoke amendments requested as part of a general management agreement.
General Terms and Conditions
The Client Agreement forms the entire agreement, which governs the legal relationship between Farringdon Asset Management and you and upon which we intend to rely. By signing up to the Client Agreement you will also be bound by these General Terms and Conditions and any applicable Specific Terms and Conditions, which constitute a legally binding contract. The Client Agreement consists of the Management Agreement signed by you and the Terms and Conditions as outlined in this document and published on our website.
These Terms are subject to change and in all instances of change you will be informed 28 days prior to any changes taking effect via the Investor portal or through other electronic means. An up-to-date copy of these Terms and Conditions will be always maintained on our website.
Unless otherwise agreed, we will classify you as an Accredited Investor (As defined by The Financial Advisers Act 2002 and the Securities and Futures Act 2005) and our Services and Products will be provided to you on this basis.
The following policy documents or summaries have been made available to you with these Terms and Conditions:
- Management Agreement
- Conflicts of Interest Policy
which you hereby confirm you have read, understood, and agree to.
If you have any complaints regarding our Products or Services, you should write to:
The Compliance Officer
Farringdon Asset Management
03/06 Ocean Financial Centre
10 Collyer Quay
For us to provide our Services contemplated under this agreement you must provide us accurate information through the fact finding, risk profile and other such disclosure documents your Relationship Manager may ask you to complete. You acknowledge that we are not responsible or any consequences if the information you have provided to us and which we have reasonably relied on is inaccurate or incorrect in any material way. You must notify us as soon as possible if any of the information provided to us by you needs to be updated.
No provision of these Terms and Conditions shall be deemed to restrict, qualify, or exclude any duty owed to you under Singapore Law.
In addition to any other eligibility requirements specified in the Specific Terms and Conditions, our products and services are only available to persons over the age of 18 or to entities.
In all instances the company will only deal with individuals or entities deemed to meet the requirement of an Accredited Investor. In any instance where an individual or entity discovers they are no longer an Accredited Investor it is their responsibility to inform the company immediately. The company accepts no responsibility for instances where an individual provides false or inaccurate disclosures as to their assets or Accredited Investor status.
We may be prohibited from making our services and products available in any jurisdiction other than Singapore. If you reside in a jurisdiction other than Singapore, we may be unable to provide our services and products to you.
If your country of residency changes at any time after you become a Farringdon Asset Management client, you are required to notify us. We may require you to close your
Account and/or cease providing our services to you. We accept no liability for any financial loss or tax consequences.
Fees and Charges
You agree to pay our fees and charges as communicated to you in the Management Agreement. We reserve the right to change these fees and charges subject to providing you with an updated management agreement and your specific authorisation via a signed copy of the management agreement.
All investments involve risk. The value of investments and the income from them may go down as well as up. Past performance is not a reliable indicator of future returns or results and therefore you may get back less than the amount you invested. You acknowledge that you have read and understood this before doing business with us.
When we provide our Services to you, we may make available to you generic information on investments or markets, market trends, investment analysis or commentary on the performance of selected companies (“Investment Information”). Investment Information is prepared for the benefit of all our clients and is not based on a consideration of your circumstances. You must not, therefore, treat it as a personal recommendation or as investment advice given to you.
Investment Information represents our view at the time it is given. We may change our view without updating any Investment Information previously made available to you. Where applicable, we are not liable for any losses you may suffer from your use of our generic Investment Information, or other such disclosures be they generic or specific.
Delays and Rejections
We have the right to reject on reasonable grounds, an application for the purchase of Investments in whole or in part including where we deem it to be inappropriate.
Requests or instructions we consider to be unclear may lead to a delay in the execution of your instructions to us. We will not be liable for any losses or lost opportunities which may result from such a delay (including any loss of interest in relation to any unsuccessful application for an Account). If we have material difficulty in fulfilling any of your Investment instructions, we shall use our best efforts to contact you as soon as practicable and inform you of this. In the event of an unsuccessful application, we will return any payments to you promptly.
We reserve the right to refuse to act upon any instruction from you where, in our reasonable belief, to do so would: (i) contravene any applicable law, regulation or regulatory guidance; (ii) further a fraudulent scheme; (iii) harm a vulnerable client; or (iv) expose us to liability.
All information supplied by us, and all communications between us and you, will be in English. We may communicate with you at any time using any reasonable method, including by letter, email, secure message, telephone, or video call. Only in instances of communication via email will the company maintain a record of said communication.
The use of apps or mobile telephones to contact relationship managers and or conduct business is made at your own risk. An any such communications may be outside of the company’s ability to monitor. It is your responsibility to pursue any information you feel you may require that has not been satisfactorily answered by being overlooked. In many instances staff may be unable to access mobile devices especially when on block leave.
In respect of any Account, you hold with one or more other persons, unless instructed otherwise, we shall assume that you hold the assets within that Account as Joint Tenants, and the following shall apply:
- You each warrant that you are beneficially entitled to a share of the assets of the Account.
- Subject to any instruction to the contrary, any instruction, notice, demand acknowledgement or request to be given by or to you under this agreement may be given by or to any one of you; we need not enquire as to the authority of that person; that person may give us an effective and final discharge in respect of any of our obligations; and
- Your liabilities under or in connection with this agreement are joint and several.
If you have entered into this agreement through a corporate, trust or other entity structure, the following shall apply:
- The formal authority of the trustee or authorised representative shall be shown to our satisfaction.
- Any instructions, notice to terminate, demand, acknowledgement, or request to be given by or to the trustee or authorised representative must be given by or to all of them, unless agreed otherwise.
- This agreement shall continue notwithstanding the death, removal or incapacity of a trustee or authorised representative. The continuing trustee(s) or authorised representative(s) must notify us as soon as is practicable to our satisfaction details of any change to the trustees or authorised representatives together with the authority for any new appointment.
- Notwithstanding the terms of any trust or constitutional documentation, except where otherwise agreed the liability of the trustees or authorised representatives under or in connection with this agreement shall be personal, joint and several;
- We shall not be concerned with the claims of any person or organisation under the terms of any trust or constitutional documentation; and we are required to ensure that all legal entities are uniquely identifiable. Where you enter into the Client Agreement in a non-personal capacity, for example under a trust or corporate structure, we require you to obtain, or provide your consent for us to obtain on your behalf, a legal entity identifier (LEI). If we obtain a LEI on your behalf, we will not renew this annually unless you ask us to. If you require us to renew your LEI at any time after it has been initially obtained by us please let us know. We will inform you of the cost of this renewal before we complete the renewal on your behalf.
We may pay or receive from third parties, fees in relation to referral of business, both externally and across Farringdon Group. We do not enter soft commission arrangements (being those under which we would receive goods or services in return for designated investment business).
The receipt of any minor non-monetary benefits will be of such a scale that they will not influence our behaviour in such a way that is detrimental to client interests, and they can enhance the quality of Services provided to you. These minor non-monetary benefits could include:
- generic information or documentation related to instruments and/or services.
- participation in relevant conferences, seminars, and training events.
- de minimis hospitality at such events and business meetings.
- allowable free trials of investment research.
- permissible material relating to corporate issuers.
Third Party Fund Distribution
The company may have distribution agreements with external fund managers. Such activities are recognised under MIFID 2 as fund distribution. External fund managers may make payments to the company for the activity of distribution. Such fees may be paid to the company directly through distribution agreements or via third party platforms and custodians. A list of all active fund managers where the company may provide distribution services can be obtained under the companies list of the companies fund manager partners. www.farringdon.com.sg/externalfundmanagers
Legal and Tax
You are responsible for the management of your legal and tax affairs, including making any applicable filings and payments and complying with any applicable laws and regulations.
You acknowledge that we are not legal, or tax advisers and we do not provide legal or tax advice. We recommend that you obtain your own independent legal and tax advice, tailored to your circumstances. You should not rely on any information provided by us as a substitute for taking your own independent legal or tax advice. In Instances where the company refers such specialist advisers to you it accepts no responsibility for any advice given to you by said specialist advisers or related third parties.
The Client Agreement may be terminated by you at any time by written notice to us. We may pass on any third-party fees which we incur because of termination by you.
We may terminate the Client Agreement by giving at least 30 days’ written notice of our intention to do so except that we may terminate the Client Agreement at any time by written notice if you are declared bankrupt or if we are required to do so by any regulator.
Upon notice of your intent to terminate the client agreement the company is under no obligation to continue to provide service in relation to any third-party products or services that you may have instituted as part of the Client Agreement.
If any provision of these Terms and Conditions is found by any court or other authority of competent jurisdiction to be illegal, invalid, or unenforceable in whole or in part, that provision (or part provision) shall, to the extent required, be deemed not to form part of such Terms and Conditions but shall not affect the legality or enforceability of any other provision.
Choice of Law
All our terms and conditions and any other matters relating to the relationship between us, and you will be governed by and construed in accordance with Singapore Law. The Singapore courts will have exclusive jurisdiction to settle any disputes or claims which may arise out of or in connection with any of our terms and conditions and all parties agree to submit to such jurisdiction.