Terms and Conditions of Sales

1. General

(a) The applicant(s) shall be bound by the following Terms and Conditions and the terms of the Prospectus/Information Memorandum/Disclosure Documents (“Offering Documents”) including any Supplementary Offering Documents and Deed of each relevant Fund(s) in respect of all transactions.

(b)  Manulife Investment Management (M) Berhad (Registration No. 200801033087 (834424-U)) (hereinafter referred to as “MIMMB”) reserves the right to vary these Terms and Conditions at any time without prior notice to the applicant(s).

2. Eligibility

First/ Individual Applicant

(a) Applicant must be 18 years of age and above as at the date of application.

(b) Applicant must upload a copy of the identification document.

(c)  Applicant has not been convicted by any court for any criminal offence and/or subjected to any bankruptcy proceedings or failed to meet any judgement debts whether within or outside Malaysia.

Joint Applicant

(a) The applicant may nominate a joint applicant in which case, a copy of the joint applicant’s identification document must also be uploaded.
 

(b) The joint-applicant has not been convicted by any court for any criminal offence and/or subjected to any bankruptcy proceedings or failed to meet any judgement debts whether within or outside Malaysia. 
 

(c) A joint applicant who is a minor (under 18 years of age) as at the date of application, a copy of the identity card or Birth Certificate is required to be uploaded.
 

(d) In the event of death of any registered joint applicant, the survivor will be the only person recognized by MIMMB and the Trustee as having any title to or interest in the investment units.
 

(e) Units registered in joint names with a minor can be redeemed or transferred by the parent / guardian. On or after the minor's 18th birthday, the parent / guardian may request that the investment units be transferred to the minor's name. In the event of the death of the parent / guardian, MIMMB and Trustee shall recognize the estate of the deceased as having any title to or interest in the investment units.

3. Instructions/Voice Recordings

(a) All instructions given in writing, delivered or sent by any electronic mediums including emails/ facsimile transmission by the applicant or authorised persons as named in this application shall be binding on the applicant. MIMMB is not obliged to verify the authenticity of any such instructions or the identity of any person giving such instructions.

(b) MIMMB shall be entitled to use voice recording devices to record instructions communicated to it and such recording(s) will constitute evidence of the instructions.

4. Confirmation e-Advices/ e-Statements

Confirmation e-advices, e-statements and other documents shall be sent at the risk of the applicant to the last updated email address as notified to MIMMB. If the applicant fails to notify MIMMB in writing of any errors, in the confirmation e-advice within 14 days, or in the e-statement within 30 days of issue, the applicant shall be deemed to have waived any right to raise any objection or to pursue any remedies against MIMMB or the relevant Trustee(s).

5. e-Statement/ e-Report/ e-Notice

(a) An e-Statement will be sent to applicant as a record of each and every payment or transaction made.

(b)  By opening online account, you have consented for MIMMB to issue you tax invoice, all statements, Interim and Annual Report of the Fund(s) via electronic format.

(c)  Interim and Annual Report of the Fund(s) will be sent via electronic format to the Unit holder(s) within 2 months from the end of each financial period / year.

(d) All correspondences from MIMMB shall be directed to the first applicant.

(e) All e-communication from MIMMB to the applicant shall be sent to the last updated email address as notified by the applicant. Proof of sending shall be deemed to be proof of receipt 3 business days after sending.

6. Distribution Instruction

(a) Please refer to the relevant Offering Documents for each Fund’s income distribution policy.

(b) If you opt for payout option, you are required to provide your bank account details for direct crediting purpose. In the absence of a valid bank account, the distribution (if any) will be reinvested automatically.

(c) Payment cannot be made to accounts in the name of third parties. For joint account, the bank account provided could either be in the name of the principal account holder or in the names of both account holders.

7. Authority to Operate Account

The authorized signatory(ies) stated under authority to operate account will be the only person recognized by MIMMB as having the authority to effect transactions on redemption, transfer, switching and any other request or carry out any instructions in the operations of the account.

8. Representation

The applicant shall not rely on any information or representations other than those contained in the relevant Offering Documents and Deed.

9. Set-off

MIMMB is entitled to set off any claim which MIMMB or the relevant Trustee(s) may have against any of the assets, units or cash of the applicant held by MIMMB or the relevant  Trustee(s).

10. Monies

(a) All application monies must be paid or remitted as instructed.

(b) If an application is rejected in whole or in part, the application monies or balance thereof will be returned (without interest or any profits in the case of Islamic funds) by MIMMB at the cost of the applicant, by telegraphic transfer, within 10 business days from the date of application.

(c) The applicant confirms that MIMMB may pay in Ringgit Malaysia to settle any redemption or other monies (if any) payable by MIMMB. Such payment shall be made payable to the first applicant unless otherwise notified in writing.

11. Rejection/ Cancellation of Application

MIMMB reserves the right to:

(a) Accept or reject any application in whole or in part without assigning any reason;

(b) Request for additional documents/ information from the applicant to support the application;

(c) Vary these terms and conditions at any time without notifying the applicant; and under no circumstances shall MIMMB be liable for any loss or damage for such action

12. Free Insurance

Please refer to the terms and conditions of the respective free insurance brochures, master policies for the applicants who may be eligible for the free insurance. MIMMB reserves the rights to modify, replace or discontinue the free insurance without assigning any reasons.

13. Anti-Money Laundering Statements

The applicant hereby warrants that:

(a) The applicant/beneficial owner is the ultimate principal of the Account (where applicable);

(b) No person other than the applicant/ beneficial owner has or will have any interest in the Account (where applicable);

(c) All monies as may be paid to MIMMB from time to time shall come from a legitimate (and not illegal) source; 

(d) The applicant agrees to provide all such information and documents as may be necessary to verify the applicant's identity and do all such acts and things as may be necessary to enable MIMMB to comply with all applicable Anti-Money Laundering and Counter Financing Terrorism (AML/CFT), and Know-Your-Customer laws, rules and regulations (whether in Malaysia or elsewhere). The applicant agrees that MIMMB shall not be liable or responsible in anyway whatsoever and shall be held harmless against any loss arising as a result of or in connection with any delay or failure to process any application or transaction if such information or documents requested by MIMMB have not been promptly provided by the applicant to MIMMB; and

(e) MIMMB reserves the right to terminate the relationship if any documents requested pursuant to the AML / CFT requirements are not received within 14 days. In such event of termination, units will be redeemed at the closing NAV price at the end of the business day on the 14th day.

14. Indemnity

(a) The applicant(s) and joint applicant(s) hereby agree(s) to indemnify MIMMB and the relevant Trustee(s) and any of their authorized agents against any actions, proceedings, claims, losses, damages, costs and expenses which may be brought against, suffered or incurred by any or all of them arising either directly or indirectly out of or in connection with MIMMB accepting, relying on or failing to act on any instructions given by or on behalf of the applicant(s) unless due to the willful default or negligence of MIMMB.

(b) The applicant acknowledges and accepts that MIMMB has the absolute discretion to rely on facsimile/ emails instructions and confirmation from the applicant and undertakes to indemnify and hold harmless MIMMB, its employees and agents against all costs, expenses, loss of liabilities, claims and demands arising out of reliance on the applicant's instructions and confirmation.

15. Legal and Tax Implications

The applicant shall acquaint himself with the relevant tax laws and exchange control regulations in force in the countries of his citizenship, residence or domicile.

16. Government Tax

All charges and fees (e.g. sales charge, switching fee, transfer fee and any other relevant fee), whichever applicable, may be subjected to taxes that may be introduced by the Government of Malaysia from time to time, at the prevailing rate. MIMMB reserves the right to collect from you an amount equivalent to the taxes payable for all charges and fees, whichever applicable. The taxes amount, if any, would be collected from the effective date of the taxes. Your obligation to pay any applicable taxes shall form part of the Terms and Conditions.

17. Payment to MIMMB

(a) The completed online investment application must be accompanied by full payment.

(b) MIMMB shall not be liable to pay any interest to the Unit Holder(s) for any monies held by MIMMB for the applicant(s) for any reason(s) whatsoever.

(c) Units will be issued at the NAV of the Fund as at the next valuation point on forward pricing basis.

18. Cooling-off

An investor who purchases units in the fund online is entitled to the same cooling-off right granted to investors who purchase units in the fund through the traditional mode as disclosed in the relevant Offering Documents. The cooling-off period is only applicable to any person investing for the first time in any funds managed by MIMMB and excludes corporations/institutions, staffs of MIMMB and persons registered to deal in unit trusts.  You have the right, within six (6) Business Days from the day of the receipt by MIMMB of your application form, to call for a withdrawal of your investment. A full refund of the money initially invested will be refunded to you within 10 calendar days from the receipt of the application for cooling-off by MIMMB. Please refer to the Offering Documents for full details on cooling-off.

19. Unit Trust Loan Financing Risk Disclosure Statement

Investing in a Unit Trust Fund with Borrowed Money Is More Risky than Investing with Your Own Savings.
You should assess if loan financing is suitable for you in light of your objectives, attitude to risk and financial circumstances. You should be aware of the risks, which would include the following:

(a) The higher the margin of financing (that is, the amount of money you borrow for every ringgit of your own money which you put in as deposit or down payment), the greater the loss or gain on your investment.

(b) You should assess whether you have the ability to service the repayments on the proposed loan. If your loan is a variable rate loan, and if interest rates rise, your total repayment amount will be increased.

(c) If unit prices fall beyond a certain level, you may be asked to provide additional acceptable collateral (where units are used as collateral) or pay additional amounts on top of your normal instalments. If you fail to comply within the time prescribed, your units may be sold towards the settlement of your loan.

(d) Returns on unit trusts are not guaranteed and may not be earned evenly over time. This means that there may be some years where returns are high and other years where losses are experienced. Whether you eventually realise a gain or loss may be affected by the timing of the sale of your units. The value of units may fall just when you want your money back even though the investment may have done well in the past.

This brief statement cannot disclose all the risks and other aspects of loan financing. You should therefore carefully study the terms and conditions before you decide to take a loan. If you are in doubt about any aspect of this risk disclosure statement or the terms of the loan financing, you should consult the institution offering the loan.

 20. FATCA and CRS

(a) Regulations based on Foreign Account Tax Compliance Act (“FATCA”) and Organisation for Economic Co-operation and Development (“OECD”) Common Reporting Standard (“CRS”) require financial institutions to collect and report certain required information based on an individual account holder’s or controlling person of an entity account holder’s tax residence. Each jurisdiction has its own rules for defining tax residence. In general, tax residence is the country in which you live. Special circumstances (such as studying abroad, working overseas, or extended travel) may cause you to be resident elsewhere or resident in more than one country at the same time (multiple residencies). The country/countries in which you pay income tax are likely to be your country/countries of tax residence. For more information on tax residence, please consult your tax adviser or the information at the following link for FATCA and CRS at https://www.irs.gov/ and http://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/ respectively.

(b) If you/ joint applicant’s/the beneficial owner’s tax residence is located outside of Malaysia, we are legally obliged to pass on the information in this application and other financial information with respect to your financial accounts to the tax authorities in Malaysia and the exchange of such information with any governmental, regulatory or tax authorities of any other country or countries in which you/ the joint applicant/ the beneficial owner may be tax resident where such countries (or governmental, regulatory or tax authorities in such countries) have entered into agreements to exchange financial account information in connection with FATCA and/or OECD CRS.

(c) As a financial institution, we are not allowed to give you any tax or legal advice.

(d) If you have any questions relating to FATCA/ OECD CRS or defining your tax residency status, please consult your tax adviser or domestic tax authority.

21. Notification

(a) You are required to inform MIMMB as soon as possible of any changes in circumstances which causes the information provided herein to become incorrect or incomplete or which affects you/joint-applicant/the beneficial owner’s tax residency status disclosed herein or within 30 DAYS of such change in circumstances.

(b) MIMMB can upon giving you reasonable notice to withhold on payments of any amounts due to you; or suspend or terminate your account, if you/the joint applicant/ the beneficial owner (or any successor owner) fail to provide any information requested or if at any time you/the joint applicant/ the beneficial owner (or any successor owner) withdraw the consent or contest the waiver provided herein.

22. Miscellaneous

References to one gender include both genders and references to the singular include the plural and vice versa.

23. Transactions received on Fund’s Holiday/ Non-business day

Transactions received by MIMMB during the Fund’s holiday or on a non-business day will only be processed on the next business day. Please refer to each Fund’s Offering Document for definition of Fund’s business day.