Privacy Policy

Discovery Funds Management Limited (Discovery, we or us) attaches great importance to protecting our customers’ privacy.  We are committed to meeting our obligations under the Privacy Act 2020.   

This Privacy Policy sets out how we collect and use your personal information when you use our products and services.

Please read this Privacy Policy carefully before using our products and services.  In using our products and services, and providing us with personal information, you agree to this Privacy Policy.

Changes to this Privacy Policy

We encourage you to review this Privacy Policy regularly as we may update it from time to time.   When we update it we will notify you by changing the date at the top of this policy and including an updated copy on our website at www.discoveryfunds.co.nz.

Personal information we collect

We may collect personal information about you, including:

• name, address, phone number email and other contact details

• information about unitholdings

• tax details (IRD number and Prescribed Investor Rate)

• bank account details

• source of wealth information

• information about the purpose of your investment (for example, for income or capital gains purposes)

• any information you provide us when you contact us.

If you do not provide certain types of personal information to us (for example, identification, proof of address, tax details, source of wealth, information about the purpose of the investment and proof of your bank account), including when we ask you to update your information, we may be unable to provide (or continue to provide) you with products and services, and/or certain features of our products and services may not be available to you. 

We will normally collect personal information about you from you directly.  However, we may collect personal information about you from third parties where you have authorised such collection, or such collection is permitted or required by the Privacy Act 2020 or any other applicable law.

We will also collect personal information about you from third parties including where that information has been made publicly available and from public sources if required by law or regulation (for example, if required under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the AML Act).

Your personal information will be collected and held by us.  Our address is: Suite 2, 1^st Floor, 20 Northcroft Street, Takapuna, Auckland.

What we use your personal information for

We collect and use your personal information for a range of purposes related to administering and operating your investment.

Some of the personal information we collect is required by law in order for us to comply with our customer due diligence requirements under the AML Act.

We may also use your personal information for marketing to you other products and services that we provide.

Who we may share your personal information with

We may provide your personal information to our directors and any employees, persons who provide services to us (including, but not limited to, companies that may assist us with complying with our customer due diligence requirements under the AML Act, the registrar and administrator of the Fund for the purpose of administering the Fund, the custodian and the auditor for audit purposes), regulatory authorities (to the extent necessary), government agencies (for example, the Police, for the purposes of complying with our legal obligations, and the tax authorities, including for the purposes of FATCA compliance if you are a US citizen), law enforcement and courts.  We will disclose your personal information to these parties only:

• for the purposes set out in this privacy policy;

• if you have otherwise authorised us to do so;

• if we are required or permitted by law to disclose such information; or

• otherwise in accordance with the Privacy Act 2020.

These recipients may be located in New Zealand or overseas. 

Personal information will be stored in the cloud with cloud storage providers (for example, AWS, which is used by Adminis our administrator, who stores its information in Sydney with a backup in Singapore) and therefore may be stored offshore.

Where we share your information with recipients overseas, we will only do so where we believe that the recipient is subject to privacy laws that, overall, provide comparable safeguards to those in the Privacy Act 2020, or where we enter into an agreement with the recipient that requires the recipient to protect the information in a way that, overall, provides comparable safeguards to those in the Privacy Act 2020, or where you have expressly authorised such disclosure.

Retention, storage and security

We will delete your personal information when it is no longer required for the purpose it was collected it for. 

We will retain your personal information (including after you have withdrawn your investment) only where we are required to by law.  For example, the AML Act requires us to retain certain personal information for a minimum of five years. 

We aim for a paperless operation.  Accordingly, your personal information will be collected electronically and stored electronically (including via cloud storage) by us, or the persons to whom we disclose it to, in New Zealand and overseas.

We will protect your personal information using such security safeguards as it is reasonable in the circumstances to take against loss, unauthorised access, use, modification or disclosure, and other misuse. 

For example, we will protect your personal information by storing it securely and allowing access only by the directors and any employees who require access to perform their role.  The directors and employees with access will be required to have carried out privacy training.

We also use cyber security protection software to protect personal information from misuse.  This includes malware protection and AV software on our computers, as well performing back-ups on our computers.  Our email requires two-factor authentication and we use cloudflare on our website.  These measures are designed to protect your personal information from loss, unauthorised access, use, modification or disclosure, and other misuse.

We ensure through contract that our AML provider and registrar/administrator, who we have engaged to assist us with complying with our customer due diligence obligations under the AML Act and administering the Fund, will safely store personal information online in accordance with this Privacy Policy.

Your rights to access and correction

The Privacy Act 2020 gives you rights to request access to, and correction of, your personal information held by us.  If you wish to exercise these rights, please contact us at:

Founder/Portfolio Manager
Suite 2
1^st floor
20 Northcroft Street
Takapuna
Auckland

Email: [email protected]
Phone: +64 22 19 22332