Preliminary NAV Calculation
Pursuant to Article 41 (2a) of the amended Law of 5 April 1993 on the financial sector (Obligation of Professional Secrecy) (“LFS”), and in accordance with approval provided by the Commission de Surveillance du Secteur Financier (“CSSF”), Harmonic Fund Services Luxembourg S.A. (“HFSLSA”) is permitted to outsource certain activities to Harmonic Fund Services Ireland Limited (“HFSIL”). HFSIL is authorized to perform the preliminary NAV calculation for certain undertakings for collective investment on behalf of clients of HFSSLA (the “Outsourced Services”). HFSLSA shall retain full oversight and overall responsibility for the Outsourced Services at all times. In this context certain investor data including detailed cash transactions and balances, portfolio trades and pricing, entity expenses and any other support needed in order to corroborate the evidence of any cash, trade or entity expense transaction may be transmitted from Luxembourg to Ireland.
IT Outsourcing
Pursuant to Article 41 (2a) of the amended Law of 5 April 1993 on the financial sector (Obligation of Professional Secrecy) (“LFS”), and in accordance with CSSF Circular 22/806 on outsourcing arrangements, Harmonic Fund Services Luxembourg S.A. (“HFSLSA”) is permitted to outsource certain IT related activities to Harmonic Fund Services Canada Inc (located in Toronto, Canada), Harmonic Consulting Ireland Ltd (located in Dublin in the Republic of Ireland), Harmonic Fund Services (located in Grand Cayman in the Cayman Islands), Harmonic Consulting Services UK Limited (located in London, England), Harmonic Fund Services Ireland Limited (located in Dublin in the Republic of Ireland) and Wavelength Financial Technology Ltd (located in Grand Cayman in the Cayman islands) (collectively the “Harmonic Affiliates”). The Harmonic Affiliates are authorized to perform certain IT related activities on behalf of HFSLSA (the “Outsourced IT Services”). HFSLSA shall retain full oversight and overall responsibility for the Outsourced IT Services at all times. In this context certain (a) investor data including detailed cash transactions and balances, portfolio trades and pricing, entity expenses and any other support needed in order to corroborate the evidence of any cash, trade or entity expense transaction and/or (b) personal data as defined in the General Data Protection Regulation (Regulation 2016/679) (“GDPR”) needed in order to verify a client’s or an investor’s identity, may be transmitted from Luxembourg to Ireland, England, Canada or the Cayman Islands.
Cloud Outsourcing
Pursuant to Article 41 (2a) of the amended Law of 5 April 1993 on the financial sector (Obligation of Professional Secrecy) (“LFS”), and in accordance with CSSF Circular 22/806 on outsourcing arrangements, Harmonic Fund Services Luxembourg S.A. (“HFSLSA”) is permitted to outsource its VMware server function and data storage to Microsoft Corporation (“Microsoft”) through its affiliated resource operator, Harmonic Fund Services Canada Inc. The primary Microsoft data center provider is located in Dublin, Ireland, the secondary Microsoft data center provider is located in Amsterdam in the Netherlands and the third data center provider is in Ontario, Canada.
Microsoft is authorized to perform the VMware server function and storage of clients’ data on the Cloud on behalf of HFSLSA (the “Outsourced Cloud Services”). All client and investor data in the possession of HFSLSA such as investor transactions, balances, AML/KYC data, personal data as defined in the General Data Protection Regulation (Regulation 2016/679) (“GDPR”), accounting data, portfolio trading and valuation data, emails, communications and other files will be transferred to Microsoft. HFSLSA shall retain full oversight and overall responsibility for the Outsourced Cloud Services at all times. In this context all client and investor data may be stored on the Microsoft cloud and thus transmitted from Luxembourg to the relevant Microsoft data centers in Ireland, the Netherlands and/or Canada.
Outsourcing of certain tasks of the Central Administration Function
Pursuant to Article 41 (2a) of the amended Law of 5 April 1993 on the financial sector (Obligation of Professional Secrecy) (“LFS”), and in accordance with CSSF Circular 22/806 on outsourcing arrangements, Harmonic Fund Services Luxembourg S.A. (“HFSLSA”) is permitted to outsource certain activities to Harmonic Fund Services Canada Inc (located in Toronto, Canada), Harmonic Consulting Ireland Ltd (located in Dublin in the Republic of Ireland), Harmonic Fund Services Ireland Limited (located in Dublin in the Republic of Ireland) and Harmonic Fund Services (located in Grand Cayman in the Cayman Islands) (collectively the “Harmonic Affiliates”). The Harmonic Affiliates are authorized to perform certain tasks of the central administration function including NAV calculation and accounting, registrar, transfer agency and client communication on behalf of HFSLSA (the “Outsourced Central Administration Services”). HFSLSA shall retain full oversight and overall responsibility for the Outsourced Central Administration Services at all times. In this context certain (a) investor data including detailed cash transactions and balances, portfolio trades and pricing, entity expenses and any other support needed in order to corroborate the evidence of any cash, trade or entity expense transaction and/or (b) personal data as defined in the General Data Protection Regulation (Regulation 2016/679) (“GDPR”) needed in order to verify a client or an investor’s identity may be transmitted from Luxembourg to Ireland, Canada or the Cayman Islands.
LAST REVISED: 25 July, 2023