DISCRETIONARY FUND MANAGER APPOINTMENT REQUEST FORM

Transcription

1 DISCRETIONAR FUND MANAGER APPOINTMENT REQUEST FORM For use by Canada Life International Assurance (Ireland) DAC bond owners requesting the appointment of a Discretionary Fund Manager and Custodian. WHEN COMPLETING THIS APPOINTMENT REQUEST FORM PLEASE NOTE THE FOLLOWING: 1. All terms, benefits and options referred to are described in our product literature. 2. Please use BLOCK CAPITALS and BLUE or BLACK ink throughout. 3. If you make a mistake, please correct the error by crossing out (do not use correction fluid) and initial the change. 4. our adviser and/or investment manager will be required to assist you with the completion of this form, for example, registration number, category of authorisation, level of investment, manager charges. 5. Please ensure you sign and date the declarations on page This form makes reference to we, us, our and CLIAI. This is generally a reference to Canada Life International Assurance (Ireland) DAC. 7. When completed, please forward the appointment form to: Canada Life International Assurance (Ireland) DAC, Canada Life House, Isle of Man Business Park, Douglas, Isle of Man IM2 2QJ. Please ensure you complete your bond number or date of application so we can correctly match this instruction to your investment. Existing bond number or of the bond application

2 BOND DETAILS To be completed by the applicant for/owner of the bond. The discretionary fund management appointment is a wide ranging authority allowing both investment dealing and selection of a custodian by the discretionary fund manager (the investment manager ). CLIAI will enter into an agreement(s) with the investment manager (and the custodian) in a manner determined by CLIAI at its absolute discretion. Charges will be payable for this/these service(s). These will be deducted from the assets within the bond which are managed by the investment manager. The charges may vary depending on the investment manager you select. I wish to request that CLIAI appoints the investment manager named to be the investment manager, on a discretionary basis, of the relevant part of the assets contained within the bond, as indicated on page 3. Details of investment manager, custodian and relevant part of the assets Investment correspondence in respect of the relevant part of the assets will be communicated via your investment manager. Investment manager details Investment manager s name (a person) and Investment manager s company name Address Postcode address Telephone number (including STD) Fax number (including STD) Please complete as appropriate. Custodian details, if different from the investment manager Custodian name Contact name of custodian Custodian address Postcode Custodian telephone number (including STD) Custodian address Please note this is the amount to be managed by the Portfolio Manager and not the total investment into the bond. Relevant part of the assets Relevant part of the assets contained within the bond which is to be managed by the investment manager. New bond application Pound ( ) Euro ( ) US Dollar ($) or % of the initial investment Existing bond application Pound ( ) Euro ( ) US Dollar ($) or % of the current bond value Page 2

3 DECLARATIONS I hereby request that CLIAI appoint the investment manager stated on page 2 (and the custodian, if different) to manage some of the assets contained within the bond as specified on page 3. I authorise CLIAI to disclose all relevant information relating to the bond to the appointed investment manager on request. I have satisfied myself that the investment manager is authorised where relevant to provide discretionary fund management. I agree that no other parties, excluding me, shall be permitted to deal and/or provide investment instructions to CLIAI. (Where I have appointed two or more discretionary fund managers I understand that I will agree with CLIAI which of the discretionary fund managers has permission to deal and/or provide investment instructions.) In respect of assets not managed by the nominated investment manager I understand that I and/or an appointed person/ adviser (that has completed an appropriate authority supplied by or acceptable to CLIAI) will be permitted to provide investment instructions to CLIAI. By ticking this box you authorize CLIAI to accept written instructions directly from your professional adviser in order to manage the liquidity of the Transaction Account. I understand that if the balance in the transaction account within the bond is not sufficient to cover agreed deductions including policy charges and requested regular withdrawals, then the discretionary fund manager has authority to liquidate such assets from within the portfolio which they manage and transfer them to the bond s transaction account on request from CLIAI. I acknowledge that the assets that will be managed by the investment manager will be owned by CLIAI and, therefore, CLIAI shall appoint the investment manager, at its absolute discretion, and on whatever terms CLIAI in its absolute discretion deems appropriate. I also acknowledge that any agreement between CLIAI and the investment manager: Will state that assets purchased by the investment manager must meet the following criteria: every asset shall be required to meet the criteria set out by the UK HM Revenue & Customs to ensure that the policy to which the assets relate cannot be classed as a personal portfolio bond ; the Central Bank of Ireland s requirements for admissible assets as set out in the European Communities (Life Assurance) Framework Regulations 1994; every asset must be in a jurisdiction which is acceptable to CLIAI; and every asset must be subject to regulation in its jurisdiction although CLIAI reserves the right to waive this restriction at its absolute discretion. May require a minimum to be invested. (In such circumstances any amount you seek to appoint the investment manager to manage must be at least this minimum amount.) I acknowledge that in respect of the assets managed by the investment manager, CLIAI will levy the following charges, in addition to any VAT arising in respect of the investment services provided. CLIAI s charge for the discretionary fund management and custodian facility (this is known as the Portfolio Manager Charge in the policy provisions) is: The aggregate annual management charge will be the combined annual management charge for the underlying assets in which the investment manager has invested. Please ask your adviser for the aggregate annual management charge for your investment. Portfolio Manager fee % and Aggregate annual management charge Total of Portfolio Manager fee and aggregate annual management charge % % of the assets managed. of the assets managed. These charges will be equivalent to the charges that CLIAI is obliged to pay the investment manager it appoints to provide the discretionary management and custodial services. ou should obtain this information from your chosen investment manager to enable you to complete this section. I confirm that the charges under the bond will include the charges stated above and I authorise CLIAI to implement the Portfolio Manager Charge contained in the Product Guide. I wish the investment manager to manage the relevant part of the assets contained within the bond and identified in this appointment request form in accordance with the investment objective and attitude to risk set out below. I acknowledge that I may need to amend my investment objective in the event that the investment manager is unable to manage assets in accordance with the investment objective. I acknowledge that CLIAI will not be responsible for any investment strategy and/or risk criteria followed by the investment manager but may enforce specific investment restrictions on the types of assets that the investment manager may invest in. I acknowledge that CLIAI reserves the right to refuse to accept a selected investment objective if the investment manager informs CLIAI that it is unwilling or unable to comply with it. Page 3

4 DECLARATIONS continued Please insert your investment objective and risk profile in the boxes provided. To determine your investment objective and risk profile please contact your adviser. Investment objective Attitude to risk I acknowledge that CLIAI may terminate the relationship with the investment manager in certain circumstances at any time by providing written notice to the investment manager. I acknowledge that I may request the termination of the investment manager facility by providing written notice to CLIAI. Termination will take effect when all relevant assets are transferred back to CLIAI and/or to another nominated investment manager(s). In the event of termination of the investment manager facility I authorise CLIAI to execute dealing in respect of the assets previously managed by the investment manager in accordance with my instructions unless I instruct CLIAI otherwise. I acknowledge that this appointment request form together with the Product Guide and Policy Schedule(s) issued by CLIAI contains all the terms governing my relationship with CLIAI in relation to my International Portfolio Bond. I confirm that all communications in relation to investment instructions in respect of the relevant part of the assets should be directed to the investment manager. I acknowledge that CLIAI reserves the right to refuse the appointment of an investment manager and/or a custodian at its absolute discretion. I confirm that I understand and accept the declarations outlined above. If you accept these declarations please sign below. When CLIAI has received cleared monies equal to or in excess of the amount you wish to be managed by the investment manager, together with a fully completed Discretionary Fund Manager Appointment Request Form, then CLIAI will proceed to appoint the investment manager, at its sole discretion, and/or complete formalities with the investment manager to manage amounts as requested without further notice. If this is a Trustees of an Existing Trust application please ensure that all trustees sign this form. All personal applicants/ owners must sign this form. The relevant authorised signatories must sign this form on behalf of corporate applicants/owners. First or sole bond owner/authorised signatory/trustee Second bond owner/authorised signatory/trustee Page 4

5 DECLARATIONS continued Third bond owner/authorised signatory/trustee Fourth bond owner/authorised signatory/trustee Fifth bond owner/authorised signatory/trustee Sixth bond owner/authorised signatory/trustee Page 5

6 NOTES/OTHER INFORMATION For further information about Canada Life International Assurance (Ireland) DAC, please visit or call us on +44 (0) Canada Life International Assurance (Ireland) DAC, registered in Ireland no Registered office: Irish Life Centre, Lower Abbey Street, Dublin 1, Ireland Telephone: +44 (0) Fax: +44 (0) Member of the Association of International Life Offices. Canada Life International Assurance (Ireland) DAC is authorised and regulated by the Central Bank of Ireland. This paper is made from recycled materials ID R