Financial Services Guide

Maven Funds Management Pty Ltd (ABN 41 633 137 265, AFSL 528900)

Date: 1 July 2021

What is a Financial Services Guide?

This Financial Services Guide (FSG) is an important document.  You should read it carefully and make sure you understand it.

This FSG is designed to help you decide whether to use any of the services provided by us and is issued by Maven Funds Management Pty Ltd (referred to as Maven Funds Management, we, us or our).

This FSG includes information about:

  • Maven Funds Management and how we can be contacted;

  • the financial services we are authorised to provide;

  • how we are paid;

  • any relevant relationships or associations;

  • how we deal with complaints that you may have about our services;

  • information about internal and external dispute resolution systems and how you can access them; and

  • the compensation arrangements that we have in place.

Who is Maven Funds Management?

Maven Funds Management is an independent funds management company based in Australia and currently serves as the investment manager of Maven Smaller Companies Fund (ARSN 639 667 879).

The financial services we are authorized to provide

Maven Funds Management is an Australian financial services licensee to provide general financial product advice as well as to deal in financial products to retail and wholesale clients. We are authorised to provide general financial product advice in the following classes of financial products:

  • deposit and payment products limited to:

    • basic deposit products;

  • interests in managed investment schemes excluding investor directed portfolio services; and

  • securities; 

We are also authorised to deal in a financial product by applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products:

  • deposit and payment products limited to:

    • basic deposit products;

  • interests in managed investment schemes excluding investor directed portfolio services; and

  • securities.

Services we currently provide

INVESTMENT MANAGEMENT

Maven Funds Management serves as the investment manager of Maven Smaller Companies Fund (the Fund) in accordance with an Manager Agreement entered into between us and the Fund’s Responsible Entity, Fundhost Ltd (ABN 69 092 517 087, AFSL 233045).

The Fund typically invests in a concentrated, high conviction portfolio of about 15-30 listed and unlisted securities across Australia and New Zealand. The Fund has a high conviction low turn-over strategy and seeks to outperform the S&P/ASX Small Ordinaries Accumulation Index over rolling 5 year periods.

The Fund will focus on Australian and New Zealand listed securities but can hold up to 10% in unlisted securities (measured at time of purchase). The investment universe (outside the S&P/ASX 50) is likely to offer the most opportunities. However, the Fund may continue to hold a security as it enters the S&P/ASX 50 if it exhibits other attributes as outlined in the investment process.

For more information on the Fund, please refer to the Fund’s Product Disclosure Statement (PDS) available on Fundhost’s website.

GENERAL FINANCIAL PRODUCT ADVICE

We may publish research, commentaries and other content including videos, which we would send directly to Fund investors and/or publish on our website, www.mavenfunds.com.au.

Fees, commissions and other benefits for the services provided

Any general financial product advice we provide including those in relation to the Fund is provided free of charge.

We receive management fee and performance fee for our management of the Fund. Information relating to our fees can be found in the Fund’ PDS. Other than the fees detailed in the PDS, we do not receive any other fees, commissions or benefits for the investment management services we provide.

EMPLOYEE REMUNERATION

Employees of Maven Funds Management who make the investments, prepare research and provide other advice are remunerated by salary and monetary bonuses. The amount of such benefits which such employees may be entitled to will depend on several factors including the Fund’ performance and other milestones. These additional benefits are at no cost to you.

You may request particulars of the remuneration or other benefits received by Maven Funds Management, respective directors, employees or associates in relation to the provision of a financial service by Maven Funds Management to you. Such a request must be made within a reasonable time after you have received a copy of this FSG and before any financial services identified in this FSG have been provided to you.

General advice only – investment warning

None of our services take into account your personal circumstances. That is, our management of the Fund and any general financial product advice we provide have been prepared without taking into account your personal circumstances or objectives. Prior to following our advice, you should determine if the Fund or any of our recommendations meets your objectives, financial situation or needs. If you feel you need personalised advice, please consult a professional financial adviser.

You should also read the PDS and other disclosure documents related to the Fund before making a decision to invest or reinvest in the Fund or to otherwise follow our advice.

Maven Funds Management will not provide you a Statement of Advice, as we do not give any personal financial product advice.

What relationships or associations do we have that might influence our advice?

Maven Funds Management and our associated entities, and their respective directors, associates, connected parties and/or employees may from time to time deal in or otherwise have a financial interest in equities and other financial products held in the Fund, referred to on our website or other general financial product advice we provide.   

All employees of Maven Funds Management including those who prepare research and other advice are subject to a code of conduct and rules for their personal trading activities (together referred to as the Compliance Rules). All Compliance Rules apply to employees’ spouses and any personal account in which an employee or his or her spouse has discretion. Our major trading rules are:

  • While employees may invest in the Fund, they cannot trade based upon knowledge of non-public information about the Fund’ investments or a portfolio manager’s intentions;

  • Employees must pre-clear all trades with our Director prior to transacting in that security;

  • Employees must report their trades to our compliance department within a reasonable time after executing a transaction; and

  • If an employee becomes aware of a security that may be a fit with Maven Funds Management’s investment strategy, the employee must first bring the security to us prior to seeking approval to trade in the security in his or her personal account.

Maven Funds Management has no other associations or relationships with the issuers of any products that might reasonably be expected to be capable of influencing Maven Funds Management in managing the Fund.

How we handle complaints

Maven Funds Management is committed to fair and transparent dealings with the Fund’ investors or its other clients. We have established complaints handling procedures to ensure that all enquiries and complaints are properly considered and dealt with.

INTERNAL COMPLAINTS RESOLUTION PROCESS

In order to investigate a complaint effectively you should provide to us your contact details and any relevant documents and other information that may support your complaint and its resolution.

Written complaints should be sent to:

Maven Funds Management Pty Ltd
3 Dunbil Avenue, Ferny Hills, Brisbane
QLD 4055

Alternatively, you can email us at contact@mavenfunds.com.au. 

After we receive your complaint, we will acknowledge the receipt of your complaint by way of post, email or telephone and promptly address your complaint. If we determine that your complaint is justified, we will then decide what action should be taken in response. Possible steps include rectifying any mistake, providing you with additional information or documentation to enable you to understand what happened and how we have dealt with it or amending our policies, procedures or systems if a systemic or recurring problem has been identified.

The length of time we will take to resolve your complaint will depend on the nature and complexity of the issue you have raised, and the extent of the enquiries required to enable those issues to be addressed. We will endeavour to resolve the majority of complaints within 30 days of receiving a complaint. For complaints that require further investigation or additional information from you or for any reason there is a delay in resolving the complaint, we will notify you within 10 business days of the date we receive the complaint and give you an indication of when we will resolve the complaint.

EXTERNAL COMPLAINTS RESOLUTION PROCESS

Maven Funds Management is a member of the Australian Financial Complaints Authority (AFCA). AFCA is a non-for-profit company that has been established to provide fair and independent complaint resolution that is free to consumers, to help in resolving complaints relating to the financial services industry.

If you feel that your complaint was not dealt with to your satisfaction, you can contact AFCA:

Our compensation arrangements

We hold a professional indemnity insurance policy which provides insurance coverage, subject to its terms and conditions, for certain liabilities in connection with the professional services provided by our employees and contractors.

Your privacy

Maven Funds Management and its associates are committed to protecting your personal information.  For details on how we use and disclose your personal information, and how you can access and update it, please refer to our Privacy Policy, which is available upon request.

How can we be contacted

If you would like further clarification of any of the matters discussed in this FSG, you can contact us by:

Email: contact@mavenfunds.com.au