Privacy

This is the privacy notice for Herald Investment Management Ltd (referred to as “we”, “us” or “our” in this privacy notice). This privacy notice was last updated in October 2022. We reserve the right to change this privacy notice at any time. We will ensure that any changes to this privacy notice are available on our website on their effective date.

  1. Purpose of this privacy notice and who we are

We are committed to protecting the privacy of individuals whose data we process (referred to as “you” or “your”). This privacy notice explains how we collect and process your personal data. Personal data is information which relates to an identified or identifiable person and could include, for example, information you provide in subscription documents and data about your transactions with us. This privacy notice will explain how we process your personal data and what rights you have under applicable data protection laws in relation to your personal data.

For the purposes of applicable data protection laws, Herald Investment Management Ltd is a controller of your personal data.  Our contact details are as follows:

Email addressprivacy@heralduk.com

Postal address: Herald Investment Management Ltd, 10-11 Charterhouse Square, London, EC1M 6EE

Telephone number: +44 207 553 6300

Due to the nature of our business, we have determined that we do not require a statutory data protection officer (DPO). However, our data privacy manager shall be responsible for overseeing the implementation of this privacy notice and for monitoring compliance with this privacy notice and with data protection law. If you have any questions about this privacy notice or how we deal with your personal data, including any requests to exercise your legal rights under applicable data protection law, please contact our data privacy manager using the details above.

Our website and our services are not intended for children and we do not knowingly collect data relating to children. Children should not access or use our website.

  1. How this privacy notice operates with our other privacy notices

It is important that you read this privacy notice together with any other privacy notices that we may provide to you on specific occasions when we are collecting or otherwise processing personal data about you so that you know how and why we are using it. This privacy notice supplements those other notices and is not intended to override them.

  1. Whose personal data do we process?

The following section of this policy sets out how we, as a controller of personal data, collect and process the personal data of people who interact with us, including website users, investors, potential investors, brokers and other business contacts.

This privacy notice applies to all personal data we obtain and process relating to website users, investors, potential investors, brokers and other business contacts, whichever category you might fall into, and what data we use and how we use it will depend on the particular circumstances, as explained within this privacy notice.

  1. What sort of personal data do we process and how is it collected?

As noted above, personal data is information which relates to an identified or identifiable person. It does not include data where the identity has been removed (anonymous data). There are “special categories” of more sensitive personal data which require a higher level of protection. We do not usually collect any special category data relating to website users, investors, potential investors, brokers and other business contacts.

We collect, from time to time, personal data on website users, investors, potential investors, brokers and other business contacts from a number of sources, including from: correspondence; application forms (including in relation to the funds we manage); your advisers; recording our calls with you; third parties, including for money laundering checks and compliance purposes; through your interaction with our website including by the use of cookies, server logs, and from public sources. We may also process personal data about individuals that are connected with the funds we manage and/or you as an investor (for example directors, employees, shareholders, beneficial owners.)

The types of personal data that we collect and use will depend on various circumstances, for example, your relationship with us, why you are interacting with us and the type of services or products you want us to provide to you. We may collect and process some or all of the following categories of personal data about you:

  • identity data, such as your name, pronoun preference, title and date of birth
  • job data, such as your employer/place of work, your job title and department
  • contact details, such as your address, email address and phone number(s)
  • information which you provide in subscription documents in relation to the funds we manage and other forms
  • identity documents and other personal information used to carry out anti-money laundering (AML) and other background checks, such as copies of your passport, driving licence and utility bills
  • personal identifiers such as your national insurance number and tax file number
  • information relating to your investment activity
  • IP address, login data, browser type and version, operating system, time zone setting and location, browser plug-in types and other technology on the devices you use to access our website and any personal data obtained through our use of cookies (further information about our use of cookies can be found here)
  • call recordings in line with our legal obligations
  • any other personal data we may obtain through you interacting with us

You are not obliged to provide us with your information where it is requested but we may be unable to proceed with our business relationship with you if you do not do so. Where this is the case, we will make you aware.

  1. For what purpose do we collect and use your personal data?

We will only use your personal data for the purposes for which it has been provided to us. Your personal data may be processed by us or our sub-processors (or any of their sub-processors) for the following purposes:

  • to administer and manage our relationship with you;
  • to administer and manage investments into our clients’ funds;
  • to update and maintain our records;
  • to carry out anti-money laundering checks and other actions in an attempt to detect, prevent, investigate and prosecute fraud and crime and verify your identity;
  • to comply with our legal or regulatory requirements;
  • to scan and monitor emails sent to us (including attachments) for viruses or malicious software, to process and encrypt personal data to protect and manage email traffic, and to store personal data on our systems;
  • to monitor and record electronic communications (including telephone calls and emails) to comply with our legal obligations and for quality control, analysis and training purposes and enforcing or defending our rights and/or interests; and
  • generally to conduct our business and such other actions as are necessary to manage our activities and/or to comply with our legal obligations, including to assist our internal management and reporting, to administer, operate, facilitate and manage your account(s) with funds managed by us and to facilitate our internal business operations, including assessing and managing risk.
  1. Changing the purpose for which we use your personal data

We will only use your personal data for the purposes for which it has been provided to us, unless we reasonably consider that we need to use it for another reason that is compatible with the original purpose. If we need to use your personal data for an unrelated purpose, we will notify you and explain the legal basis that allows us to do so and (if required) we will obtain your consent to processing.

 

  1. What lawful basis do we rely on to process your personal data?

We will only use your personal data in compliance with the law. Most commonly, where:

  • It is necessary for our legitimate interests (or those of a third party), and those interests do not override your interests or fundamental rights.
  • We need to enter into the business relationship you have requested with us
  • We need to comply with a legal or regulatory obligation. For example, we may be required to share your personal data with any legal or regulatory authority to which we are subject.

Generally, we do not rely on consent as a legal basis for processing your personal data, though we may seek to do so on occasion. If we do rely on consent to process your personal data, we will contact you specifically to request this consent. In such circumstances, we will provide you with full details of the personal data that we would like to process and the reason we need to process it, so that you can carefully consider whether you wish to consent. Where you do consent and we rely on consent to process your personal data, you have the right to withdraw your consent at any time (see Section 13 below).

We have set out below, in a table format, the legal bases we rely on to process your personal data. We have also identified what our legitimate interests are where appropriate.

Please note that we may process your personal data for more than one lawful ground depending on the specific purpose for which we are using your data. Please contact us if you need us to confirm which of the legal bases set out below we rely upon for a specific type of processing for a particular category of personal data.

 

 

Purpose / ActivityLegal basis for processing
To administer and manage our relationship with you

 

 

 

 

 (a)                Our legitimate interests of pursuing and developing our business

(b)               Necessary to comply with our legal obligations (e.g. to conduct due diligence on you when registering you as an investor)

 

To administer and manage investments our clients’ funds

 

 

 

(a)       Our legitimate interests, and the legitimate interests of the funds we manage, of pursuing and developing our businesses and managing the funds

(b)      Necessary to comply with our legal obligations (e.g. to conduct due diligence and maintain statutory registers)

To update and maintain our records

 

 

 

(a)       Our legitimate interests of ensuring effective and accurate record keeping

(b)      Necessary to comply with our legal obligations

To carry out anti-money laundering checks and other actions in an attempt to detect, prevent, investigate and prosecute fraud and crime and verify your identity

 

(a)       Necessary to comply with our legal and regulatory obligations, including under the anti-money laundering regulations

 

To comply with our legal or regulatory requirements

 

(a)       Necessary to comply with our legal and regulatory obligations, including under the anti-money laundering regulations
To scan and monitor emails sent to us (including attachments) for viruses or malicious software, to process and encrypt personal data to protect and manage email traffic, and to store personal data on our systems

 

(a)      Necessary to comply with our legal and regulatory obligations, including under data protection law

(b)      Our legitimate interests to protect and maintain the security and efficiency of our systems

To monitor and record electronic communications (including telephone calls and emails) to comply with our legal obligations and for quality control, analysis and training purposes and enforcing or defending our rights and/or interests.

 

(a)       Necessary to comply with our legal and regulatory obligations, including under the Financial Conduct Authority rules and regulations

(b)      Our legitimate interests of ensuring the quality of our services and defending our rights and/or interests

 

Generally to conduct our business and such other actions as are necessary to manage our activities and/or to comply with our legal obligations, including to assist our internal management and reporting, to administer, operate, facilitate and manage your account(s) with us and your use of our services and products and to facilitate our internal business operations, including assessing and managing risk.

 

(a)       Our legitimate interests of pursuing and developing our business

(b)      Necessary to comply with our legal and regulatory obligations

 

 

 

 

 

 

  1. Who do we share your personal data with?

We may need to share your personal data with third parties including other organisations from time to time, but we will maintain responsibility for what they do with your data when acting on our behalf and how it is processed on our behalf. All third parties are required to respect the security of your personal data and to treat it in accordance with the law. We do not allow our third-party processors to use your personal data for their own purposes (except where they act as a separate controller) and we only permit them to process your personal data on our behalf for specified purposes and in accordance with our instructions. We may disclose personal data we hold about you:

  • to other entities within our group and the funds we manage;
  • to service providers who process data for us, including those providing IT, software-as-a-service, back-up and system administration services, document storage services, telephone services, document execution vendors, and hosting services;
  • to our legal and professional advisers;
  • to organisations with which, or people with whom, may be involved in the provision of any services to you, for example, auditors, fund administrators, registrars, printers, compliance consultants, and credit reference agencies;
  • to background, compliance and anti-money laundering check services;
  • in the event that we sell or transfer any business or assets, in which case we may disclose personal data we hold about you to the prospective and actual buyer of such business or assets;
  • to competent authorities (including tax authorities), courts and bodies as required or permitted by law or requested; and
  • to other third parties in connection with providing services to you and/or conducting our business.

Where we disclose your personal data to third party service providers, they may need to use your information to comply with their own legal obligations, including under anti-money laundering legislation. In those cases, the relevant service provider will be acting as a controller in respect of your personal data, and its use of your personal data will be subject to its privacy policy (which they are required by law to make available to you).

From time to time, our website may provide links to other websites. We are not responsible for the data protection/privacy/cookie usage policies of such other websites, or the terms and conditions on such other websites, and you should check the policies and terms and conditions on such other websites if you have any concerns about them. You should always exercise caution and review the privacy policy and terms and conditions applicable to the website in question.

  1. International transfer of your data

Generally, we process your personal data within the UK. Whenever your personal data is transferred by us out of the UK, unless it is to a country that has been deemed to provide an adequate level of protection for personal data by the Secretary of State, we ensure a similar degree of protection is afforded to it including, where appropriate, by putting in place specific standard contracts approved by the Secretary of State which give personal data the same protection it has in the UK.

Please contact us if you want further information on the specific mechanism we use when transferring your personal data outside the UK.

  1. How do we look after your data?

We have put in place measures designed to ensure the security of the personal data we collect and store about you. In particular, we have put in place appropriate security measures designed to help prevent your personal data from being accidentally lost, used or accessed in an unauthorised way. In addition, we limit access to your personal data to those employees, agents, contractors and other third parties who have a business need to know. They will only process your personal data on our instructions (unless they are a sperate controller of your personal data) and subject to a duty of confidentiality.

We have put in place procedures to deal with any suspected personal data breach and will notify you and/or any applicable regulator of a breach where we are legally required or consider it appropriate to do so.

  1. How long will we use your personal data for?

We will only keep your personal data for as long as necessary to fulfil the purposes for which we collected it or to enable us to comply with our legal obligations or enforce our legal rights.

Generally, the length of time we keep your data will depend on the type of personal data and the purpose for which we are processing it. To determine the appropriate retention period, we consider the amount, nature, and sensitivity of the personal data, the potential risk of harm from unauthorised use or disclosure, the purposes for which we process the personal data and whether we can achieve those purposes through other means, and the applicable legal requirements.

At the end of the retention period, we will either delete your data completely, or anonymise it so that, for example, we can aggregate it with other data so that it can be used, without identifying you.

You can  contact us if you would like further information about our retention policy.

  1. What are your legal rights?

You have various rights in relation to your personal data. You have the right to:

Request access to your personal data (commonly known as a “data subject access request”). This enables you to receive a copy of the personal data we hold about you and to check that we are lawfully processing it. For further information, please see Section 14.

Request correction of the personal data that we hold about you. This enables you to have any incomplete or inaccurate data we hold about you corrected.

Request erasure of your personal data. This enables you to ask us to delete or remove personal data where there is no good reason for us continuing to process it. You also have the right to ask us to delete or remove your personal data where you have successfully exercised your right to object to processing (see below). Note, however, that the right to erasure is not absolute and we may not always be able to comply with your request for erasure for specific legal reasons which, if applicable, we will notify to you of.

Object to processing of your personal data where we are relying on our legitimate interests (or those of a third party) and there is something about your particular situation which makes you want to object to our processing on this ground as you feel it impacts on your fundamental rights and freedoms. In some cases, we may demonstrate that we have compelling legitimate grounds to process your information which override your rights and freedoms. You also have the right to object where we are processing your personal data for direct marketing purposes.

Request restriction of processing of your personal data. This enables you to ask us to suspend the processing of your personal data in any of the following scenarios: (a) if you want us to establish the data’s accuracy; (b) where our use of the data is unlawful but you do not want us to erase it; (c) where you need us to hold the data even if we no longer require it as you need it to establish, exercise or defend legal claims; or (d) you have objected to our use of your data but we need to verify whether we have overriding legitimate grounds to use it.

Request the transfer of your personal data to you or to a third party. We will provide to you, or a third party you have chosen, your personal data in a structured, commonly used, machine-readable format. Note that this right only applies to automated information which you initially provided consent for us to use or where we used the information to perform a contract with you.

Withdraw consent at any time where we are relying on consent to process your personal data. However, this will not affect the lawfulness of any processing carried out before you withdraw your consent. If you withdraw your consent, we may not be able to provide certain products or services to you. We will notify you if this is the case. Once we have received notification that you have withdrawn your consent, we will no longer process your information for the purpose or purposes you originally agreed to, unless we have another legitimate basis for doing so in law.

If you wish to exercise any of the rights set out above, please contact us.

  1. Accessing your data

Should you wish to access your data, the following information will apply:

  • You will not have to pay a fee to access your personal data (or to exercise any of the other rights). However, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive. Alternatively, we may refuse to comply with your request in these circumstances.
  • We may need to request specific information from you to help us confirm your identity and ensure your right to access your personal data (or to exercise any of your other rights). This is a security measure to ensure that personal data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response.
  • We try to respond to all legitimate requests within one month. Occasionally it may take us longer than a month if your request is particularly complex or if you have made a number of requests. In this case, we will notify you and keep you updated.
  1. Changes to your data

The personal data we hold about you needs to be accurate and up-to-date in order to comply with data protection law. Please let us know of any changes to your personal data so that we can correct our records.

  1. Complaints

Please contact us in the first instance if you have a concern about how we are dealing with your personal data. You also have the right to make a complaint at any time to your local data protection authority (in the UK, the Information Commissioner’s Office (ICO) (www.ico.org.uk)) if you consider that the processing of your personal data carried out by us has breached data protection laws. We would, however, appreciate the opportunity to deal with your concerns before you approach any of the supervisory authorities so please contact us in the first instance.

 

For the privacy policy for HeraldUK, Inc, our US subsidiary, please click  here

 

Herald

 

Welcome to the website for Herald Investment Management Limited (HIML). These pages provide a brief introduction to HIML and details of the funds it manages, currently Herald Investment Trust Plc, the Herald Worldwide Technology Fund and two venture capital limited partnerships.

These pages are regularly updated to include up-to-date financial and performance data, but please feel free to contact us with comments, or to request further information. It is important that you read the notices below before proceeding, as they explain certain legal and regulatory restrictions which apply to the information contained in this website.

The information provided in this website is solely for use by individuals who are resident in the United Kingdom and who are subject to UK tax; it is not intended as, and should not be regarded as, an offer or solicitation to sell investments in any jurisdiction other than the UK. Individuals who are not resident in the UK should not continue as it may be contrary to local laws or regulations for them to receive information in connection with, or to apply for, a UK investment. In particular, Herald Investment Trust Plc shares are not registered under United States securities law and, subject to limited exceptions, may not be offered, sold, transferred or delivered in the United States or to US persons. By proceeding, you are representing and warranting that you are not resident in, or a citizen of, a jurisdiction outside the UK.

Stock market and currency movements may cause the capital value of shares and the income derived from them to go down as well as up, and investors may get back less than they invested. Past performance is not necessarily a guide to future performance. The value of any tax relief you may be entitled to will depend on your individual circumstances. Current tax rates and reliefs may be changed by future legislation.

This website has been approved for purposes of UK regulation by Herald Investment Management Ltd which is authorised and regulated by the Financial Conduct Authority.

Although we have taken reasonable care to ensure that the facts contained in these pages are accurate, no representation or warranty, express or implied, is made as to their accuracy or completeness. The contents of the website are not to be considered as investment advice.

The information on this website is not for distribution outside the UK. Under no circumstances should this information, or any part of it be copied, reproduced or redistributed. No rights of any kind are licensed or assigned or shall otherwise pass to persons accessing this information.

If you are in any doubt about any of the information contained on this website please consult your stockbroker, solicitor, accountant or other professional adviser.

Authorised and Regulated by the Financial Conduct Authority
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