Financial Services Guide

About this Financial Services Guide

This Financial Services Guide (FSG) is issued by Clime Asset Management Pty Limited (Clime Asset Management, we, us, our) an Australian Financial Services License (AFSL) holder No.221146. One of the requirements of our AFSL is to provide you with this FSG before giving you any investment advice.

This FSG is designed to provide you with important information to assist you in deciding whether to use any of the financial products or services offered by Clime Asset Management Pty Limited.

This FSG provides important information about the following:

  • who we are;
  • the services and products we are authorised to provide;
  • how we are remunerated for the financial product and services we provide;
  • how we pay others for the financial products and services we provide;
  • how we collect and use your personal information;
  • what kind of compensation arrangements are in place for a breach of our legal obligations? and;
  • our internal and external dispute resolution procedures.

Prior to investing in any of our financial products you must complete an application form attached to the relevant offer document such as a Product Disclosure Statement (PDS), Information Memorandum, Guide or Prospectus.

The offer document contains important information regarding the product, its features, benefits, risks and fees applicable to the product under consideration. You should carefully read the offer document applicable to the financial product to enable you to make an informed decision about the suitability of the product to your needs.

Who we are

Clime Asset Management is a wholly-owned subsidiary of Clime Investment Management Ltd. Clime Investment Management Ltd (ASX Code: CIW) is a publicly listed, boutique financial services group.

Clime Asset Management is an Australian-based fund manager specialising in absolute return focus, value based Australian and international equities investing. Clime Asset Management manages in excess of $500 million through discrete mandates for families, individuals and charities, Australian retail and wholesale unit trusts, international fund and the listed investment company Clime Capital Limited. Clime Asset Management’s investment methodology is implemented with the aim of achieving absolute returns for investors.

The CIW along with Eureka Report Pty Limited also manages and distributes the web-based equity valuation
tool, StocksInValue.

The services and products we are authorised to provide

Our AFSL authorises us to provide the following types of financial services to retail and wholesale clients:

  • giving advice in financial products;
  • dealing in financial products, i.e. buying and selling financial products;
  • providing trustee services to our wholesale products.

Clime Asset Management is responsible for the financial products and services it provides to you as described in this FSG.

We will provide these products or services through our representatives who may consist of our employees, third party service providers, or any authorised representatives appointed by us.

We currently act as investment managers of the Clime Discrete Share Portfolios (DSPs), Clime Australian Income Fund, the Clime Australian Value Fund, the Clime International Fund and Clime Capital Limited. Clime DSPs and Clime Australian Income Fund are currently offered to Wholesale/sophisticated investors. Clime International Fund and Clime Australian Value Fund are available to both retail and wholesale investors. OneVue RE Services Limited is the responsible entity for Clime International Fund and Clime Australian Value Fund.

We also provide general advice on the establishment and operation of self-managed super funds in conjunction with the Discrete Share Portfolio service, through the Clime Super service.

Please note while we are authorised under our AFSL to provide personal financial product advice, i.e. advice that takes into account your personal situation, needs or objectives, we do not provide financial planning services. All advice we provide is general advice only. This is an important consideration and means that the advice has not been prepared by taking into account your particular investment objectives, financial situation and particular needs.

You should assess whether the product is appropriate in light of your own individual investment objectives, financial situation and particular needs. We recommend that you consult with a licensed investment adviser, or dealer in securities such as a stockbroker, before making an investment decision.

How we are remunerated for the financial product and services we provide

We do not charge you a fee for providing you with general financial product advice.

Our fee structure for the DSP Service comprises a base management fee, an administration fee and a performance fee. We do not charge any establishment fees in our Discrete Share Portfolio Service.

Where investments are purchased or sold on your behalf through stockbroking firms, brokerage is charged at institutional rates by the broking firm. We do not receive any brokerage/commission on share purchases and sales.

Under the Corporations Act we are required to disclose that we may receive complimentary research information and access to computer systems from these stockbroking firms.

For the provision of investment management services and trustee services, Clime Asset Management will receive remuneration in the form of Investment management fees and performance fees as set out in the investment management agreement, PDS or Information Memorandum.

We do not receive any fees, nor do we charge you additional fees for providing general financial product advice.

Clime employees

All Clime employees are remunerated by way of salaries, bonuses or other benefits relevant to their role, as offered by Clime Group from time to time at its discretion. Certain employees may also participate in restricted employee share Incentive Scheme (in-substance options), that are vested over a defined period. These share options are not performance-based but aim to retain key employees. The amount of bonuses and other benefits depend on various factors including the performance of the employee during the year, and in some cases meeting certain sales, compliance and other targets, as well as the overall financial performance of the Clime Group.

Our employees are not paid any remuneration for providing you with general financial product advice.

How we pay others for the financial products and services we provide

Other advisers

You may receive advice about our products from other external financial advisers who are not employed by us. These advisers may receive remuneration from us if you buy our product. Your adviser is required to provide you with a Statement of Advice (SOA) setting out any fees and commissions they receive applicable to our products.

Are fees and commissions payable to any third parties?

A proportion of our fees may be paid to third parties for referring our services to you. If however you approached Clime Asset Management independently, fees may not be paid to a third party.

The relevant offer document such as a Product Disclosure Statement (PDS), Information Memorandum, Guide or Prospectus will inform you if any such fees and commissions are payable. Third parties who receive them are independently required by law to disclose the fees and/or commissions to you.

How we collect and use your personal information

Your privacy is important to us. We must ensure privacy and security of your personal information in accordance
with the Australian Privacy Principles. You can obtain a copy of our Privacy Policy on request or it is available on
our website www.clime.com.au/privacy-policy.

The personal information that we collect will be used to provide you with the financial services requested. If you register online to receive our products you may indicate whether they wish to receive additional information and marketing on other Clime Asset Management products. At any time you may change, remove or alter the records held by Clime Asset Management or elect not to receive any materials from Clime Asset Management or affiliated companies.

If you have any concerns about the completeness or accuracy of the information we hold about you or would like to amend or access your information, please contact us. Clime Asset Management Customer Service can assist with any questions concerning your records.

What kind of compensation arrangements are in place for a breach of our legal obligations?

Where we are liable to meet a claim, compensation may be paid from our resources or from professional indemnity insurance that we hold. These insurances are between us and the insurer and are intended to respond to civil liability resulting from significant claims for compensation made against us for financial services provided by us or our representatives. These insurances provide cover even if one of our representatives has ceased to act or work for us.

Our compensation arrangements comply with the legal requirements set out in s912B of the Corporations Act.

Our internal and external dispute resolution procedures

If you have any complaint regarding the service we have provided, you should take the following steps:

Contact Clime Asset Management on 1300 788 568 and tell us about your complaint. We will attempt to resolve your complaint immediately.

If the complaint cannot be resolved to your satisfaction within 45 business days of receipt, you have the right to complain to the Credit Ombudsman Service Ltd (COSL).

COSL is the external dispute resolution scheme authorised to deal with complaints in relation to financial services industry.

You can contact COSL on 1800 138 422 or write to:

Credit Ombudsman Service Ltd

PO Box A252
South Sydney NSW 1235

Email info@cosl.com.au
Web www.cosl.com.au

At any time you may also contact the ASIC to make a complaint and obtain information about your rights. You can phone your regional ASIC office on 1300 300 630. You may also contact ASIC to obtain any of its publications and services through the ASIC website at www.asic.gov.au

You can download this FSG in PDF format by clicking here.

The information provided on this webpage and the rest of clime.com.au is intended for general use only. The information presented does not take into account the investment objectives, financial situation and advisory needs of any particular person nor does the information provided constitute investment advice. Under no circumstances should investments be based solely on the information herein. Please consider our Information Memorandum, Product Disclosure Statement and Financial Services Guide before investing in one of our products. Past performance is no guarantee of future returns.
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