1.1 The Terms and Conditions herein are not exhaustive and Areca Capital Sdn. Bhd. (“ACSB”) reserves the right to add, delete, vary or amend these Terms and Conditions at any time and from time to time at its sole and absolute discretion and the Account Holder(s) hereby agree to any such additions, deletions, variations or amendments to the Terms and Conditions. Where there are conflicting terms, the terms in ACSB’s forms and/or Disclosure Documents shall prevail.
1.2 ACSB reserves the right to reject any application in whole or in part without assigning any reason. Rejected applicants will be notified and ACSB will refund the applicant’s money(s), made payable to the applicant, within 7 days from the date of receipt of the duly completed form.
1.3 Account Holder(s) is/are informed and has/have expressly agreed to be serviced by any assigned employee of ACSB in addition to the servicing Unit Trust Scheme Consultant (“UTSC”), including but not limited to any appointed Unit Trust Management Company (“UTMC”), personnel, business partner and distributor of ACSB, only when such service is conducted together with any assigned employee of ACSB. In performing their role, information of the Account Holder(s), including profile, financial and investment records will be made available to assigned employees in addition to the servicing UTSC. Such information shall also be made available to ArecaCapital Trustees Berhad (“ACTB”), being a part of the ACSB group, for the purpose of estate planning and/or setting up of private trust only.
1.4 Authorised or assigned employees of ACSB including but not limited to any appointed UTMC, personnel, business partner and distributor of ACSB, must advise and inform Account Holder(s) of their capacity in providing service and general advice. Account Holder(s) is/are advised to make their independent decision, which includes the option to seek other professional advice. Account Holder(s) must be well informed on the above in order to continue the business relationship with ACSB.
1.5 For any enquiries on the services and the rights of ACSB, Account Holder(s) may email to invest@arecacapital.com or visit www.arecacapital.com.
2.1 Principal Holder must be 18 years of age and above to execute and complete the Master Account Opening Form.
2.2 A Joint Holder may be a minor, in which case, a signature may not be required. Specimen signature is required upon Account Holder reaching 18 years of age.
2.3 In the case of death of a non-Muslim Account Holder for unit trust fund(s) managed and/or distributed by ACSB, the surviving Joint Holder(s) will be the only person(s) recognised by ACSB and/or the trustee of the respective unit trust fund(s) as having title, right or interest to and in the units held, except where the units are under the EPF Members Investment Scheme, have been collateralised or charged to any institution.
2.4 The Controller refers to the individual on whom the account’s risk profile and suitability assessment are based. This individual must be either the Principal Holder or Joint Holder of the account.
3.1 The source of all funds paid by the Account Holder(s) to ACSB from time to time shall originate from the Account Holder(s)’s legitimate source, for example, legitimate business activity.
3.2 Account Holder(s) must provide all information and documents required and declare that all particulars given are true and complete to allow ACSB to verify the Account Holder(s)’s identity(ies).
3.3 ACSB shall not be held liable for the action or omission of the Account Holder(s)’s for any reason whatsoever and the Account Holder(s) agree(s) to indemnify(ies) ACSB from any losses whatsoever as a result or in connection with any delay or failure to process any application/transaction if such information and/or documents are not provided on time to ACSB.
3.4 ACSB reserves the following rights to reject:-
(a) any application if the Account Holder(s) is/are not able to prove the information and/or documents required; or
(b) if the Account Holder(s) is/are found to have breached or incompliance with the laws, regulations and rules on Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and ‘Know Your Customer’ policy of the ACSB;
(c) any applicant that falls under high-risk category under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 and ‘Know Your Customer’ policy of the ACSB.
3.5 ACSB shall notify any rejected applicant of such rejection in any manner deemed necessary by ACSB.
4.1 The protection of personal data and privacy is an important concern to ACSB. Any personal data collected on the Master Account Opening Form will be treated in accordance with ACSB’s Personal Data Protection and Privacy Policy (“PDPA Policy”). Kindly visit www.arecacapital.com to view the contents of the ACSB’s PDPA Policy.
4.2 Account Holder(s) has/have ensured that they have read and understood the PDPA Policy and, where they have provided ACSB with the personal data of any other person, the said person has also read and understood the PDPA Policy. By executing the Master Account Opening Form, Account Holder(s) represent(s) that:
(a) they have read and understood the PDPA Policy and consent is given to ACSB to process their personal data; and
(b) where they have provided the personal data of any other person, the said person has read and understood the PDPA Policy and he/she consents to ACSB processing of his/her personal data.
5.1 Investing in a unit trust fund(s) with borrowed money is more risky than investing with Account Holder(s)’s own savings.
5.2 Account Holder(s) should assess if loan financing is suitable for the Account Holder(s), taking into consideration the Account Holder(s)’s investment objectives, attitude to risk and financial circumstances. Account Holder(s) should be aware of the risks, which would include the following:
(a) The higher the margin of financing (that is, the amount of money the Account Holder(s) borrow(s) for every ringgit of the Account Holder(s)’s own money which the Account Holder(s) put(s) in as deposit or down payment), the greater the loss or gain on the Account Holder(s)’s investment(s).
(b) The Account Holder(s) should assess whether the Account Holder(s) has/have the ability to service the repayments on the proposed loan. If the Account Holder(s)’s loan is a variable rate loan, and if interest rates rise, the Account Holder(s)’s total repayment amount will be increased.
(c) If unit prices fall beyond a certain level, the Account Holder(s) may be asked to provide additional acceptable collateral (where units are used as collateral) or pay additional amounts on top of the Account Holder(s)’s normal instalments. If the Account Holder(s) fail(s) to comply within the time prescribed, the Account Holder(s)’s units may be sold towards the settlement of the Account Holder(s)’s 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 the Account Holder(s) eventually realise a gain or loss may be affected by the timing of the sale of the Account Holder(s)’s units. The value of units may fall just when the Account Holder(s) want(s) the money back, even though the investment may have done well in the past.
5.3 This brief statement cannot disclose all the risks and other aspects of loan financing. Account Holder(s) should therefore carefully study the Terms and Conditions before the Account Holder(s) decide(s) to take the loan. If Account Holder(s) is/are in doubt about any aspect of this risk disclosure statement or the terms of the loan financing, Account Holder(s) should consult the institution offering the loan.
6.1 A confirmation note will be issued to the Principal Holder within 10 Business Days from the date of investment under normal circumstances.
6.2 Statement of Accounts detailing all active accounts will be issued to the Principal Holder periodically.
6.3 All items and balances shown in the confirmation notes and Statement of Accounts will be considered correct unless ACSB is notified in writing of any discrepancy within 14 days from the date of the confirmation notes and Statement of Accounts.
6.4 All notices, statements, vouchers, correspondence and other communications will be addressed to the Principal Holder only at the address herein.
7.1 All instructions, investments and transactions will be carried out according to the instructions of the Account Holder(s) specified in Section C(2) of the Master Account Opening Form or any subsequent relevant forms duly received by ACSB. Transactions are subject to the availability of units in the relevant unit trust fund(s).
7.2 Payment may be made by telegraphic transfer, bank or online transfer, cheque or bank draft.
7.3 All cheques or bank drafts must be made payable to “Areca Capital Sdn. Bhd. – CTA” and crossed ‘Account Payee Only’. A copy of the bank-in or transaction slip must be sent together with the Master Account Opening Form to ACSB.
7.4 For all modes of payment, please ensure that the Account Holder’s name, account number (if known), contact number, and NRIC No. are written on the reverse side of the cheque, draft, bank-in slip, transaction slip or other banking evidence.
7.5 Cash payment, cash deposit and third-party payment are strictly not allowed.
7.6 Units will be priced based on the Net Asset Value (“NAV”) calculated at the end of the Business Day upon receipt of the duly completed Master Account Opening Form before cut-off time. Units will be credited upon clearance of payment, after deduction of the necessary fees, charges, taxes and other deductions, where applicable.
7.7 Notwithstanding the above, for investment in money market funds, Account Holder(s) is required to ensure money is successfully remitted and cleared before submitting investment application to ACSB. ACSB reserves the right to reject or defer the application of investment if ACSB does not receive the full payment.
7.8 ACSB shall be entitled to rely upon the Account Holder(s)’s instructions stated herein to proceed with the application. It will be deemed irrevocable and the Account Holder(s) will not be able to cancel, stop or perform any changes to the application upon submission.
8.1 For unit trust fund(s) which are foreign currency denominated funds, ACSB shall only place booking when ACSB receives the money(s) deposited by the Account Holder(s). For payments made by cheques, or bank drafts, ACSB shall only place the booking when the cheque is cleared, not bounced or dishonoured.
8.2 Bank charges may apply to all transactions involving foreign currency transfers between separate banks.
9.1 Account Holder(s) may redeem units by filling up the relevant Redemption Form and forwarding the duly signed form to ACSB.
9.2 Units shall be redeemed based on the NAV calculated at the end of the Business Day upon receipt of a duly completed Redemption Form.
9.3 For partial redemption, the Account Holder(s) must leave a minimum balance of units required as stated in the respective unit trust fund(s)’s Disclosure Documents. In the event any request for partial redemption results in the Account Holder(s) holding less than the minimum balance of units required, ACSB reserves the right to fully redeem all the units held by the Account Holder(s).
9.4 To protect the interests of the Account Holder(s), ACSB is unable to make payments to third parties. Unless otherwise specified, all redeemed proceeds will be made to the Principal Holder only.
9.5 A cooling-off right is given to first-time investors of ACSB (investing for the first time in any unit trust fund(s) distributed and managed by ACSB). The cooling-off period given to the Account Holder(s) is six (6) Business Days commencing from the date of receipt of the investment application by ACSB. The refund for every unit held following a request by the Account Holder(s) pursuant to the exercise of a cooling-right should be the sum of:-
(a) the NAV per unit at the point of exercise of the cooling-off right (“market price”), if the NAV per unit on the day the units were purchased (“original price”) is higher than the market price; or
(b) the original price, if the market price is higher than the original price; and
(c) together with the charges imposed on the day the units were purchased.
9.6 A cooling-off right is not applicable to corporations or institutions, staff of ACSB and persons registered with a body approved by the Securities Commission (“SC”) to deal in unit trust fund(s).
9.7 No partial cooling-off is allowed.
9.8 Account Holder(s) may exercise their cooling-off rights by completing the relevant Cooling-Off Form and forwarding the duly signed form to ACSB.
9.9 The money(s) to be refunded to the Account Holder(s) pursuant to the exercise of a cooling-off right will only be paid after ACSB have received cleared funds for the original investments.
9.10 During the cooling-off period, Account Holder(s) may choose instead to:-
(a) redeem their units instead of exercising their right to cool-off. In this case, the redemption procedures as stated in the respective prospectus of the unit trust fund(s) will apply; or
(b) switch of units where the proceeds to be received by the Account Holder(s) for the cooling-off request will be used to subscribe to a unit trust fund(s) as indicated by the Account Holder(s). In this case, the switching procedures as stated in the respective prospectus of the unit trust fund(s) will apply. Please also note that it is not certain whether the Account Holder(s) would be in a better or worse position if the Account Holder(s) switches to another unit trust fund(s).
9.11 ACSB shall be entitled to rely upon the Account Holder(s)’s instructions stated herein to proceed with the application. It will be deemed irrevocable and the Account Holder(s) will not be able to cancel, stop or perform any changes to the application upon submission.
10.1 Account Holder(s) may transfer any of their accounts with ACSB to any of their immediate family only (comprises spouse, parents, children and siblings), by filling up a Transfer Form and forwarding the duly signed form to ACSB. Please refer to Section F(2) of the Master Account Opening Form for suitability assessment requirements.
11.1 Account Holder(s) may switch investments in any unit trust fund(s) managed and/or distributed by ACSB by filling up the Switch Form and forwarding the duly signed form to ACSB.
11.2 If the switching is made to an initial/new unit trust fund(s), the gross amount must meet the minimum requirement of the new unit trust fund(s)’s initial investment amount as stated in the respective unit trust fund(s)’s Disclosure Documents. For partial switching, the Account Holder(s) must leave a minimum balance of units required to maintain the unit trust fund(s)’s account. In the event any request for partial switch results in the Account Holder(s) holding less than the minimum balance of units as stated in the respective unit trust fund(s)’s Disclosure Documents, ACSB reserves the right to fully switch all the units held by the Account Holder(s).
11.3 ACSB may charge a switching fee as disclosed in the Disclosure Documents of the respective unit trust fund(s).
11.4 Switching between UTMC is allowed only for CASH investments.
11.5 Switch-sell and switch-buy transaction between different UTMC will be effected on different transaction day and hence different NAV of the respective unit trust fund(s) shall apply.
11.6 ACSB shall be entitled to rely upon the Account Holder(s)’s instructions stated herein to proceed with the application. It will be deemed irrevocable and Account Holder(s) will not be able to cancel, stop or perform any changes to the application upon submission.
11.7 ACSB shall be entitled to charge an entry fee for switching to another fund if no initial entry fee is charged.
12.1 Transfer-in of units from other platforms and/or UTMC to ACSB is only allowed when there is no change of Beneficial Owner including Joint Holder(s).
12.2 It may take approximately two weeks to complete the transfer-in process. The process may take longer as it is subject to the completeness of information/documents provided by Account Holder(s) and Transferor’s confirmation.
13.1 Account Holder(s) investing in unit trust fund(s) under the nominee system is not recognised by the UTMC as a registered unit holder under the deed. Consequently, Account Holder(s) does not have all the rights ordinarily exercisable by a unit holder, including the following:
(a) the right to have their particulars recorded in the register of unit holders of the unit trust fund(s); and
(b) the right to call, attend and vote in any unit holders’ meeting.
13.2 Please note that this will not be applicable to unit trust fund(s) managed by ACSB as the Account Holder(s) will be the registered unit holder.
14.1 Income distributions declared by the respective unit trust fund(s) distributed by ACSB shall be reinvested in new units of the same unit trust fund(s) except where reinvestment is not allowed.
15.1 The Account Holder(s) shall be responsible for the payment of any charges, fees, costs, expenses, taxes (if any) and other liabilities properly payable or incurred by ACSB and in holding or executing transaction in respect of any of the units. All fees/charges may be subject to tax or taxes which may be imposed by the relevant Authority from time to time.
16.1 The Account Holder(s) understand(s) and accept(s) the risks associated with the Account Holder(s)’s request to have their statements/reports sent via electronic means. Account Holder(s) may revoke their instruction to receive the e-statements/reports request at any time by submitting the relevant duly completed Account Update Form to ACSB.
16.2 Upon Account Holder(s)’s request to receive their statements, reports and other communications via electronic means (“e-report”), ACSB will not be sending paper-based (“hardcopy”) statements/reports. However, printed copies of the Account Holder(s)’s statements and reports are available upon request.
1.1 Access will only be granted after it has been verified that the Authorised User(s) is/are authorised to access, view the information of the account(s) and perform transaction of the account(s) via online (if applicable). Authorised User(s) can only apply for access to account(s) where the Authorised User(s) is/are a Principal Holder and/or Joint Holder. Access to transact can only be granted to one Login ID per account.
1.2 Areca Online is meant for the Authorised User(s)’s personal use only. The Authorised User(s) shall not copy, duplicate, disseminate, publish, modify or in any way exploit any parts of Areca Online’s features and information.
1.3 Areca Capital Sdn. Bhd. (“ACSB”) reserves the right to terminate any Login ID to disable the Authorised User(s)’s access to Areca Online and has the absolute discretion to suspend or cancel the Authorised User(s)’s access to Areca Online without giving any reason whatsoever at any time without prior notice. It is also ACSB’s discretion to approve or reject any application to access Areca Online.
1.4 The Authorised User(s) will be able to access the account’s investment information and/or transact (if applicable) with a Login ID and password.
1.5 Authorised User(s) is/are fully responsible for any online activities conducted using their Login ID and password and ACSB may rightfully assume that any person accessing Areca Online using the Authorised User(s)’s Login ID and password is/are the Authorised User(s).
2.1 The Authorised User(s) must not misuse Areca Online by knowingly introducing computer viruses or any other material(s) which is/are malicious or technologically harmful. The Authorised User(s) must not attempt to gain access to the Areca Online’s server on which the Areca Online is stored or any servers, computers and databases connected to Areca Online.
3.1 Under no circumstances, including but not limited to negligence, shall ACSB, its directors, officers, employees, agents and representatives be liable for any direct, indirect, special, incidental or consequential damages whatsoever that result from the use of, or the inability to use, Areca Online.
3.2 ACSB does not guarantee that Areca Online can be accessed at all times or as indicated by ACSB. Areca Online may be temporarily unavailable or restricted for administrative or other reasons. If this happens, ACSB will endeavour to restore access to Areca Online as quickly as possible.
3.3 ACSB assumes no responsibility for the material(s) created or published by third parties that this website links to.
3.4 The contents of Areca Online are provided on an “as is” and “as available” basis without warranties of any kind, either expressed or implied, made in relation to the correctness, accuracy, timeliness or reliability of the content. ACSB can only take responsibility for the reliability of data and information that is within its control. ACSB is not responsible for the data and information entered by the Authorised User(s) or their Unit Trust Scheme Consultant (“UTSC”). ACSB is not responsible for the accuracy or content of information or material which is provided to the Authorised User(s) and which the Authorised User(s) edit(s), amend(s), alter(s) and then provide(s) to any third party or provide in a different form from that of Areca Online.
3.5 The Authorised User(s) shall release, discharge and indemnify ACSB (including but not limited to its directors, officers, employees, agents and representatives) from and against liabilities suffered or incurred by the Authorised User(s) as a result of the use of Areca Online.
3.6 ACSB is not responsible for transmissions of any computer virus or other unwanted programs or information resulting from or associated with the Authorised User(s) use of Areca Online.
4.1 All online transactions may differ from investing with an UTSC. If the Authorised User(s) undertake(s) transactions on an electronic system, the Authorised User(s) may be exposed to risk associated with the system including the failure of hardware and software. The result of any system failure may be that the Authorised User(s)’s order is either not executed according to the Authorised User(s)’s instructions or not executed at all.
5.1 ACSB reserves the right to make any changes to Areca Online Terms and Conditions at any time, including the introduction of new Terms and Conditions.
5.2 The Authorised User(s)’s continued use of Areca Online will constitute the Authorised User(s)’s acceptance of the amended Terms and Conditions.
