Your privacy is very important to us. This notice (this “Privacy Notice”) is provided by Capstone Investment Advisors, LLC (the “Investment Manager”) on behalf of itself and any relevant Capstone fund in which you are invested or seek to invest in (the “Funds”, and together with the Investment Manager, “we” or “us”), and sets forth the policies of the Investment Manager and the Funds for the collection, use, storage, sharing, disclosure (collectively, “processing”) and protection of personal data relating to current, prospective and former investors in the Funds, as applicable. This Privacy Notice is being provided in accordance with the requirements of data privacy laws, including the EU General Data Protection Regulation 2016/679 (“GDPR”), the US Gramm-Leach-Bliley Act of 1999, as amended, or any other law relating to privacy or the processing of personal data and any statutory instrument, order, rule or regulation implemented thereunder, each as applicable to the Investment Manager and the Funds (collectively, “Data Protection Law”). References to “you” or an “investor” in this Privacy Notice mean any investor who is an individual, or any individual connected with an investor who is a legal person (each such individual, a “data subject”), as applicable.
Capitalised terms used herein but not defined herein shall have the meanings assigned to them in the confidential offering memorandum, subscription document, or other relevant document of the applicable Fund (the “Memorandum”).
The categories of personal data we may collect include names, residential addresses or other contact details, signature, nationality, tax identification number, date of birth, place of birth, photographs, copies of identification documents, bank account details, information about assets or net worth, credit history, source of funds details or other sensitive information, such as certain special categories of data contained in the relevant materials or documents.
We may collect personal data about you through: (i) information provided directly to us by you, or another person on your behalf; (ii) information that we obtain in relation to any transactions between you and us; and (iii) recording and monitoring of telephone conversations and electronic communications with you.
We also may receive your personal information from third parties or other sources, such as our affiliates, the Administrator, publicly accessible databases or registers, tax authorities, governmental agencies and supervisory authorities, credit agencies, fraud prevention and detection agencies, or other publicly accessible sources, such as the Internet.
We may process your personal data for the purposes of administering the relationship between you and us (including communications and reporting), direct marketing of our products and services, monitoring and analysing our activities, and complying with applicable legal or regulatory requirements (including anti-money laundering, fraud prevention, tax reporting, sanctions compliance, or responding to requests for information from supervisory authorities with competent jurisdiction over our business). Your personal data will be processed in accordance with Data Protection Law and may be processed with your consent, upon your instruction, or for any of the purposes set out herein, including where we or a third-party consider there to be any other lawful purpose to do so.
Where personal data is required to satisfy a statutory obligation (including compliance with applicable anti-money laundering or sanctions requirements) or a contractual requirement, failure to provide such
information may result in your subscription in the applicable Fund being rejected or compulsorily redeemed or withdrawn, as applicable. Where there is suspicion of unlawful activity, failure to provide personal data may result in the submission of a report to the relevant law enforcement agency or supervisory authority.
We may disclose information about you to our affiliates or third parties, including the Administrator, the Prime Brokers, the Custodian of the Master Fund for our everyday business purposes, such as to facilitate transactions, maintain your account(s) or respond to court orders and legal investigations. It may also be necessary, under anti-money laundering and similar laws, to disclose information about the relevant Fund’s investors in order to accept subscriptions from them or to facilitate the establishment of trading relationships for the Fund with executing brokers or other trading counterparties. We will also release information about you if you direct us to do so.
We may share your information with our affiliates for direct marketing purposes, such as offers of products and services to you by us or our affiliates. You may prevent this type of sharing by contacting us as described below (see “Who to contact about this Privacy Notice”). We may also disclose information about your transactions and experiences with us to our affiliates for their everyday business purposes. If you are a new investor, we can begin sharing your information 30 days from the date we sent this Privacy Notice. When you are no longer our investor, we may continue to share your information as described in this Privacy Notice.
We do not share your information with non-affiliates for them to market to you.
We may record and monitor electronic communications with you for the purposes of ensuring compliance with our regulatory obligations.
We will not retain personal data for longer than is necessary in relation to the purpose for which it is collected, subject to Data Protection Law. Personal data will be retained for the duration of your investment in the relevant Fund, as applicable, and for a minimum period of five to seven years after a redemption or withdrawal, as applicable, of an investment from the Offshore Fund or the Onshore Fund, as applicable, or liquidation of a Fund. We may retain personal data for a longer period for the purpose of marketing our products and services or compliance with applicable law. From time to time, we will review the purpose for which personal data has been collected and decide whether to retain it or to delete if it no longer serves any purpose to us.
To protect your personal information from unauthorised access and use, we apply organisational and technical security measures in accordance with Data Protection Law. These measures include computer safeguards and secured files and buildings. We will notify you of any material personal data breaches affecting you in accordance with the requirements of Data Protection Law.
Because of the international nature of a fund management business, personal data may be transferred to countries outside the EEA (“Third Countries”), such as to jurisdictions where we conduct business or have a service provider, including countries that may not have the same level of data protection as that afforded by the Data Protection Law in the EEA. In such cases, we will process personal data (or procure that it be processed) in the Third Countries in accordance with the requirements of the Data Protection Law, which may include having appropriate contractual undertakings in legal agreements with service providers who process personal data on our behalf in such Third Countries.
Data subjects in the European Economic Area have certain rights under GDPR in relation to our processing of their personal data and these are, generally: (i) the right to request access to your personal data; (ii) the right to request rectification of your personal data; (iii) the right to request erasure of your personal data (the “right to be forgotten”); (iv) the right to restrict our processing or use of personal data; (v) the right to object to our processing or use where we have considered this to be necessary for our legitimate interests (such as in the case of direct marketing activities); (vi) where relevant, the right to request the portability; (vii) where your consent to processing has been obtained, the right to withdraw your consent at any time; and (viii) the right to lodge a complaint with a supervisory authority. You should note that your right to be forgotten that applies in certain circumstances under GDPR is not likely to be available in respect of the personal data we hold, given the purpose for which we collect such data, as described above.
You may contact us at any time to limit our sharing of your personal information. If you limit sharing for an account you hold jointly with someone else, your choices will apply to everyone on your account. US state laws may give you additional rights to limit sharing.
A complaint in respect of the Investment Manager may be made to the Information Commissioner’s Office in the United Kingdom.
Please contact our Head of Investor Relations on email@example.com, 212-232-1420 or by writing to the following address – Capstone Investment Advisors, LLC, 250 Greenwich Street, New York, New York 10007 – for any questions about this Privacy Notice or requests with regards to the personal data we hold.
For more specific information or requests in relation to the processing of personal data by the Administrator, the Prime Brokers, the Custodians or any other service provider of the Funds, you may also contact the relevant service provider directly at the address specified in the Directory section of the relevant offering document or by visiting their websites.
A “cookie” is a file that websites send to a visitor’s computer or other Internet-connected device to uniquely identify the visitor’s browser or to store information or settings in the browser.
Strictly necessary cookies are used for the purpose of authentication and providing data security. These cookies are necessary for the Sites to function properly and enable you to use their services and features. Disabling these cookies will encumber the Sites’ performance, and may make these services and features unavailable.
Functional cookies allow the Sites to efficiently manage your user experience and remember choices you have made in order to provide functionality. For example, functional “session” cookies allow the Sites to remember settings specific to you, such as previous visits to the Sites or whether you have clicked to acknowledge our Cookie Banner. Functional cookies may also include persistent cookies which are used to remember your preferences when you subsequently visit our Sites.
Analytics cookies, including third party cookies, are used to gather statistics about the use of the Sites in order to improve the performance and design of the Sites. For these purposes, analytics cookies collect information about your device type, operating system type, browser type, domain, other system settings, IP-address, referring URLs, information on actions taken on the Sites and the dates and times of your visits, as well as the country and time zone in which your device is located. These cookies are provided by two third-party analytics tool providers, Google Analytics and Wistia, and the information obtained through these cookies will be disclosed to or collected directly by these third-party service providers.
You can learn more about the privacy policies and how to opt out of each of our analytics tool providers by clicking on the following links:
Google Analytics: https://support.google.com/analytics/answer/6004245
For more information on how we collect, use and share your personal information, please read the Capstone Investment Advisors, LLC Website Privacy Notice.
UK Stewardship Code
Capstone Investment Advisors (UK) LLP supports the stewardship code’s objectives but does not claim to comply with the code as its investment strategies do not generally involve taking positions in UK listed stock. Moreover, if we were to take a position in a UK listed stock, our investment strategy would be to trade the volatility of the security and this investment strategy is not consistent with the principles of the code.
Capstone Investment Advisors (UK) LLP is currently considering whether it will adopt an engagement policy pursuant to Article 3g of the amended EU Shareholder Rights Directive (Directive 2007/36/EC). When that decision has been made, this webpage will be updated accordingly.
Statutory Status Disclosure and Complaints
Capstone Investment Advisors (UK) LLP is authorised and regulated by the Financial Conduct Authority. For professional investors only.
We aim to ensure that we treat our customers fairly at all times. Any complaints will be investigated competently, diligently and impartially, assessed fairly and promptly with respect to the subject matter of the complaint, and whether the complaint should be upheld and what remedial action or redress may be appropriate.
The FCA’s Dispute Resolution (“DISP”) handbook sets out the rules relating to the handling of complaints from eligible complainants and MiFID clients. We have determined that we have no eligible complainants under the DISP rules at present.
However, certain consumers could be considered to be eligible complainants under the DISP rules in the future and, as such, we will apply the rules within DISP with respect to those investors.
We define complaints as follows with respect to the two categories of complainants:
Eligible complaint – defined by the FCA as meaning ‘any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service which (a) alleges that the complainant has suffered (or may suffer) financial loss, material distress of material inconvenience; and (b) relates to an activity of that respondent, or any other respondent with whom that respondent has some connection in marketing or providing financial services or products, which comes under the jurisdiction of the Financial Ombudsman Service (“FOS”).
MiFID complaint – defined as ‘any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service or a redress determination which alleges that the complainant has suffered or may suffer financial loss, material distress or material inconvenience’. This does not come under the jurisdiction of FOS.
Upon receipt of a Complaint, as defined above, the Chief Compliance Officer will ensure that eligible complainants are provided a copy of this document, which constitutes our complaints handling policy, when acknowledging a complaint.
We will endeavor to communicate with you clearly and in plain language that is easy to understand and reply to your complaint without undue delay. As soon as we have made the relevant enquiries and reviewed your complaint we will write to you. If we have reasonable grounds to be satisfied that another respondent may be solely or jointly responsible for the matter alleged in your complaint, we may promptly forward the complaint, or the relevant part of it, in writing to that other respondent. We will inform you promptly in a final response of the reason for forwarding the complaint, including the other respondent’s contact details. Where jointly responsible for the fault alleged in the complaint, we will comply with own obligations under the DISP rules in respect of that part of the complaint we have not forwarded.
We will endeavour to write to you within eight weeks.
All complainants should contact the Chief Compliance Officer.
Contact: Katrina Paglia
We are required to provide clear and accessible information about the Financial Ombudsman Service (“FOS”) including its website address.
If your complaint is not resolved by us to your satisfaction, and if your complaint falls within the jurisdiction of the FOS, then you may take your complaint to the FOS.
If a business and a customer can’t resolve a complaint themselves, the FOS can give an unbiased answer about what’s happened. If the FOS decide someone’s been treated unfairly, they have legal powers to put things right. In order to contact the Financial Ombudsman Service or obtain details of the compensation scheme you should:
- write to- The Financial Ombudsman Service, Exchange Tower, London, E14 9SR; or
- telephone 0300 123 9 123 or 0800 023 4567; or
- visit- http://www.financial-ombudsman.org.uk/default.htm
Modern Slavery Statement
This statement is made by Capstone Investment Advisors (UK) LLP (“Capstone”) pursuant to section 54 of the UK Modern Slavery Act 2015 (the “Act”) and in respect of the financial year ended 31 December 2019.
Capstone and its parent company, Capstone Investment Advisors, LLC, is a global fund manager that specialises in trading volatility as an asset class. Capstone is a sub-investment manager to Capstone Investment Advisors, LLC.
Capstone is a limited liability partnership incorporated in England and Wales and regulated by the UK Financial Conduct Authority to carry on investment management activities.
Capstone employs a workforce comprising employees, independent contractors and consultants who perform business and non-core functions. Most of these staff carry out highly-skilled activities and therefore the risk of these individuals being subject to Modern Slavery is very low.
As a financial services business we have a limited supply chain comprised mostly of professional services companies such as institutional financial firms, financial data providers and information technology service companies that employ skilled labour in developed financial markets where the risk of Modern Slavery in such supply chains is low.
Capstone also receives services for certain non-core functions (for example office cleaning, catering and building facilities services) that may pose a higher risk of Modern Slavery.
We expect all of our suppliers to adhere to all applicable laws in conducting their businesses and to operate a fair and ethical workplace for their staff. Capstone will not tolerate modern slavery or human trafficking within its supply chain.
California Consumer Privacy Act
Sustainable Finance Disclosure Regulation
Capstone Investment Advisors, LLC (“Capstone”) has made a determination that sustainability risks are not currently relevant to its investment decision making process and has further determined that sustainability risks are currently not likely to have a material impact on the returns of its investment portfolios. Given the focus of the investment portfolios on volatility, relative value strategies and seeking risk-based returns, Capstone generally does not expect sustainability risks and their associated effects on the underlying value of investments to influence the selection and performance of investment portfolio positions. Capstone may consider it appropriate to integrate sustainability risks into its investment decisions in the future and this disclosure will be updated in accordance with the Disclosures Regulation to reflect any such decision.
Having taking into account the size, nature and scale of its activities, and as the primary objective of Capstone is to achieve attractive risk-adjusted returns for investors, Capstone considers it would be disproportionate to consider principal adverse impacts of investment decisions on sustainability factors at this time. Capstone therefore does not currently consider principal adverse impacts of investment decisions on sustainability factors. Capstone acknowledges that the pursuit of the investment portfolios’ objectives may, in some circumstances, have an adverse impact on sustainability factors.