Terms And Conditions Of Use

By using this PolarStar Management (Pty) Ltd ("PolarStar") website (the "Website"), you hereby accept and agree to abide by the following terms and conditions ("Terms and Conditions"). You acknowledge your understanding that these Terms and Conditions constitute a binding agreement between you and PolarStar that governs your access and use of the Website, which includes all contents on or through the Website. The Content on this Website ("Content") is owned by PolarStar and its use is subject to these Terms and Conditions.

Please read these Terms and Conditions carefully before using this Website. Each time you use the Website you accept and agree to abide by these Terms and Conditions. If you do not accept the Terms and Conditions stated herein, do not use the Website. Your breach of any provision of these Terms and Conditions revokes and terminates your right to access the Website and you will be fully liable for conversion, misappropriation, and all other claims and causes arising from or relating to your continued use of the Website after such breach.

All information displayed on this Website is subject to the copyright of PolarStar and is protected by copyright and other intellectual property laws. All rights not expressly granted are reserved.

Regulatory Information

The investment manager (PolarStar Management (Pty) Ltd) is an Authorised Financial Services Provider (FSP Number 45053). PolarStar Management (Pty) Ltd is licensed as a Category II & IIA licence holder, authorised by the Financial Sector Conduct Authority ("FSCA"). The date of registration with the FSCA was 08/04/2014. In terms of the General Code of Conduct of FAIS, the FSP is required to disclose the information set out herein. PolarStar does not provide financial advice. All information contained herein should not be construed, or relied upon, as advice. If you require financial and/or investment advice, please engage the services of an independent financial adviser.

The Fund (Polar Star FR Qualified Investor Hedge Fund) is deemed a Hedge Fund portfolio created in terms of the Collective Investment Schemes Control Act, 2002 ("CISCA") and is regulated under Board Notice 52 of CISCA. Accordingly, the Fund is regulated within the South African unit trust industry under the auspices of CISCA.

Authorised Key Individuals & Representatives

The following individuals have been duly authorised by the Financial Sector Conduct Authority ("FSCA") as key individuals and representatives to render financial services as defined in terms of the FAIS Act:

Key Individuals:

Casper Groenewald

Johann Theron 

EU Representative (REMIT II)

Apex Company Secretarial Services B.V. (Van Heuven Goedhartlaan 935a, 1181 LD, Amstelveen, the Netherlands) has been appointed by PolarStar as its EU Representative in the Netherlands for the purposes of complying with obligations under the Regulation on Wholesale Energy Market Integrity and Transparency, as revised by Regulation (EU) 2024/1106 ("REMIT II"), which entered into force on 7 May 2024. REMIT II broadens the scope of covered wholesale energy products and market participants, strengthens transparency and monitoring requirements, and expands the enforcement powers of the Agency for the Cooperation of Energy Regulators ("ACER") and national regulatory authorities.

General Disclaimer

This Website is not an offer to, or a solicitation of, any prospective or existing clients of PolarStar. This Website instead provides generally available information about PolarStar. Nothing on this Website is, or should be construed to be, an offer to sell or the solicitation of an offer to buy any security or other financial instrument or service.

This Website is only for use by Professional / Qualified / Institutional Investors as defined in the relevant jurisdiction. Retail investors should not access this Website.

This Website is not intended for use by US Persons (as defined under US securities laws) and the Fund managed by PolarStar may not be offered, sold, or otherwise transferred directly or indirectly to any United States citizen or resident or to any corporation, partnership, trust, or other entity chartered or organised under the laws of any jurisdiction in the United States of America, its territories or possessions, or any other United States Person.

This Website is not intended for use by any person in any jurisdiction where the publication or availability of the information is prohibited or restricted by law. Persons in respect of which such prohibitions apply must not access this Website or the information contained herein. Persons into whose possession this Website may come are required to inform themselves about and to comply with any relevant restrictions.

PolarStar has taken and will continue to take care that all information, insofar as this is under its control, provided on this Website is true and correct. However, PolarStar shall not be responsible for, and therefore disclaims any liability for, any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered as a result of or which may be attributable, directly or indirectly, to the use of or reliance upon any information, links or service provided through this Website.

There is no warranty of any kind, expressed or implied, regarding the information or any aspect of this service. Any warranty implied by law is hereby excluded except to the extent such exclusion would be unlawful.

The Content is controlled and operated by PolarStar from its offices in South Africa. Neither PolarStar nor any of its affiliates make any representation that the Content is appropriate or available for use in any location or that access to the Content is not illegal or prohibited in such locations. Those who choose to access the Content do so of their own unsolicited initiative, are deemed to have requested such Content from PolarStar and are responsible for determining the legality, usability and correctness of any information or materials under any or all jurisdictions and the compliance of that information or material with local laws, if and to the extent local laws are applicable. You hereby accept any and all liability resulting from any such prohibited use of the Content, and indemnify and hold harmless PolarStar and its affiliates and each of their respective partners, members, officers, agents and employees (collectively, "Indemnitees") from and against any liability, claim, cost, loss, judgment, damage or expense (including attorneys' fees and expenses) that any Indemnitee incurs or suffers as a result of, or arising out of, your breach of anything set forth in these Terms and Conditions.

You acknowledge that: (i) the Content is not investment advice and shall not, under any circumstances, constitute an offer or solicitation to buy or sell any security or other financial instrument or service; (ii) although the Content may include investment-related information, none of the Content is a recommendation that you purchase, sell or hold any security or other financial instrument or service, or that you pursue any investment style or strategy; (iii) PolarStar does not give any advice or make any representations through the Content as to whether any security or other financial instrument or service is suitable for any person or will be profitable; (iv) none of the Content is intended to be, and you should not consider it to be, investment, accounting, tax or legal advice. If you would like investment, accounting, tax or legal advice, you should consult with your own financial advisors, accountants or attorneys regarding your individual circumstances and needs. You further acknowledge that the past performance of any investment, investment strategy or investment style of PolarStar is not indicative of future performance or results.

Intellectual Property

The Content is protected by one or more copyrights, patents, database rights, trademarks, service marks and/or other intellectual property and proprietary rights that are owned by PolarStar.

You may not decompose, decompile, reverse engineer, disassemble or otherwise deconstruct all or any portion of the Content. You may not publish, broadcast, retransmit, reproduce, repackage, frame, commercially exploit, create any derivative of or otherwise redistribute all or any portion of the Content except as explicitly permitted herein. You may not remove any copyright, trademark or other proprietary notice or legend contained on (or printed from) the Content. You shall not use the Content for or in connection with any illegal, fraudulent, harassing or similar prohibited purpose, or an activity that could, in PolarStar's good faith determination, adversely affect PolarStar's reputation.

Limitation of Liability

PolarStar provides the Content "as is" and "as available" and without any warranty or condition, express or implied. Access to the Content may be amended, suspended temporarily or permanently and without notice. Although PolarStar endeavours to ensure that the Content is correct, no warranty, express or implied, is given as to its accuracy and PolarStar does not accept any liability for error or omission. In particular, but without limitation, PolarStar does not warrant that the Content or this Website are free from viruses or other similar problems and PolarStar is not responsible for any harm caused to you or your property from your use thereof. PolarStar shall not be liable for any damages, including, without limitation, damages for loss of business or loss of profits, arising in contract, tort or otherwise from the use of or inability to use the Content, or from any action or decision taken as a result of using the Content.

If any of these Terms and Conditions should be determined to be illegal, invalid, or otherwise unenforceable, such Term(s) or Condition(s) shall be severed and deleted from the clause concerned and the remaining Terms and Conditions shall survive, remain in full force, and effect and continue to be binding and enforceable.

These Terms and Conditions shall be governed by and construed in accordance with the laws of South Africa and you agree to submit to the exclusive jurisdiction of the Courts located in the South Africa to resolve any dispute related thereto.

Privacy Policy and the Protection of Personal Information Act

PolarStar is a responsible party as defined in the Protection of Personal Information Act 4 of 2013 ("POPIA") and is committed to protecting the privacy and security of your personal information. PolarStar collects and processes personal information in accordance with POPIA and the principles of lawfulness, purpose limitation, data minimisation, information quality, openness, security safeguards, and data subject participation. Available: here.

Information Officer

PolarStar's designated Information Officer for purposes of POPIA is:

Herman Verwey Email: herman@polarstarfunds.com Phone: +27 21 409 7109

What personal information we collect

PolarStar may collect and process the following categories of personal information:

  • Identity and contact information (name, email address, phone number, company details) when you voluntarily submit information through this Website or contact us directly
  • Technical data (IP address, browser type, operating system, device information) collected automatically when you visit the Website
  • Usage data (pages visited, time spent, links clicked, search terms entered) collected via cookies and similar technologies
  • Registration details if you apply for access to restricted areas of this Website

Purposes and legal bases for processing

PolarStar processes your personal information for the following purposes:

  • To operate, maintain and improve this Website — on the basis of PolarStar's legitimate interests
  • To respond to enquiries and provide information about PolarStar's products and services — on the basis of legitimate interests or, where applicable, steps prior to entering into a contract
  • To comply with applicable legal and regulatory obligations under FAIS, CISCA, FICA and other applicable South African legislation — on the basis of legal obligation
  • To communicate with you where you have given consent to receive communications — on the basis of consent

Retention

PolarStar retains personal information only for as long as is necessary for the purpose for which it was collected, or as required by applicable law. Records related to complaints are retained for a minimum of five years. Financial records are retained in accordance with the Financial Intelligence Centre Act (FICA).

Cross-border transfers

If personal information is transferred outside of South Africa, PolarStar will ensure that the recipient country, organisation, or person provides an adequate level of protection as required by POPIA's eighth condition for lawful processing, or that appropriate contractual safeguards are in place.

Your rights as a data subject

Under POPIA, you have the right to:

  • Be notified when your personal information is collected
  • Access the personal information PolarStar holds about you
  • Request correction or deletion of inaccurate, irrelevant or excessive personal information
  • Object to the processing of your personal information
  • Withdraw consent at any time where processing is based on consent (without affecting the lawfulness of prior processing)
  • Lodge a complaint with the Information Regulator of South Africa (details below)

To exercise any of these rights, please contact the Information Officer at herman@polarstarfunds.com.

Information Regulator of South Africa

JD House, 27 Stiemens Street, Braamfontein, Johannesburg, 2001 P.O. Box 31533, Braamfontein, Johannesburg, 2017 Tel: 010 023 5200 Email: inforeg@justice.gov.za Website: www.inforegulator.org.za

PolarStar's full Privacy Policy can be requested from the Information Officer.

PAIA Manual

This information manual provides an outline of the types of records held by PolarStar and explains how one may submit requests for access to these records in terms of the Promotion of Access to Information Act 2 of 2000 ("PAIA"). It can be read here.

To request access to a record, please download the form by clicking here, complete it and email it to herman@polarstarfunds.com.  

PolarStar will furnish you with a response that includes the form that can be accessed here, in confirmation of the outcome of your request and the relevant payable fees. 

TCF Policy

Our Treating Customers Fairly ("TCF") policy is centred around the guidelines provided by the Financial Sector Conduct Authority ("FSCA") to ensure we consistently deliver fair outcomes to our clients and take responsibility for conducting our business in a manner that ensures enhanced service quality to clients, based on a culture of openness and transparency. As a business, PolarStar takes the requirements of the FSCA seriously, in particular the requirement to treat customers fairly at all stages of the product lifecycle — from product design and promotion, through advice and servicing, to complaints and claims handling. Our TCF Policy can be found: here.

Conflict of Interest

PolarStar has adopted and implemented a Conflict of Interest Management policy that complies with the provisions of the FAIS Act.

The Conflict of Interest Management policy is published on our website, click here to read it. The information contained in the Schedules is not available online however may be requested by email to herman@polarstarfunds.com.

Changes to the Privacy Policies

PolarStar may modify or amend its policies at any time and for any reason, including those available on this Website. We encourage you to periodically review our policies. Nothing contained herein creates or is intended to create a contract or agreement between PolarStar and any user visiting the Website or providing identifying information of any kind.

Electronic Communication & Records

By visiting this Website or communicating with us by electronic means, you consent to receiving communications electronically in accordance with the Electronic Communications and Transactions Act 25 of 2002 ("ECTA") and agree that all agreements, notices, disclosures and other communications transmitted by electronic means satisfy any legal requirement, including but not limited to the requirement that such communication be "in writing."

USE OF COOKIES

Cookies may be placed on your computer when you visit and register on this Website. A cookie is a small piece of information sent by a web server to a web browser, which enables the server to collect information back from the browser.

PolarStar uses the following categories of cookies:

  • Strictly necessary cookies: Essential for the Website to function. They do not store personally identifiable information and cannot be switched off.
  • Analytics cookies: Allow PolarStar to understand how visitors interact with the Website in order to improve its functionality. Information collected is aggregated and anonymised.

In accordance with POPIA, PolarStar will request your consent before placing non-essential cookies on your device. You may withdraw your consent at any time by adjusting your browser or device cookie settings. The cookie does not contain any personally identifiable information.

PolarStar does not accept responsibility for any interference or damage to your own computer system, the records stored thereon or those of any other person, which arises in connection with your use of this Website or any linked Website. Cookies allow your browser to check whether you have read and agreed to these Terms.

You can choose how browser cookies are handled by your device via your browser settings, including refusing or deleting all cookies. Each browser and device is different, so check the settings menu of the browser or device you are using to learn how to change your advertising settings and cookie preferences. If you choose not to receive cookies at any time, the Website may not function properly.

Hyperlinks

When you access certain links on our Website you may leave our Website. PolarStar has not reviewed any of the Websites linked to our Website and does not endorse or accept any responsibility for the content of such Websites nor the products, services or other items offered through these Websites.

Complaints

PolarStar has adopted a complaint resolution procedure to ensure that all complaints are fairly and promptly addressed and that a proper process is followed to resolve such complaints.

All complaints must be lodged in writing and addressed to the Compliance Officer. All relevant information and/or documentation should be attached to the submission and can be sent:

Compliance Officer: Herman Verwey Phone: +27 21 409 7109 (direct) Email: compliance@polarstarfunds.com

All complaints submitted to PolarStar will be acknowledged in writing within two working days of receipt. PolarStar will investigate the complaint by gathering all the relevant facts and may request additional information from you should it be necessary for resolution of the complaint. The Board of Directors of PolarStar will treat every complaint fairly and endeavour to provide a response as soon as possible.

Where a complaint cannot be addressed by PolarStar within ten working days of receipt, you will be informed accordingly.

You will be notified of the outcome of the complaint in writing. If the outcome is not favourable to you, full written reasons will be provided within six weeks of receipt of the complaint. If you are not satisfied with the outcome, or if a solution has not been proposed within six weeks from receipt of the complaint, you are entitled to refer the matter to the FAIS Ombud. You have six months after receipt of the final response from PolarStar, or after such response was due, to submit a complaint to the FAIS Ombud. You must endeavour to resolve the complaint with PolarStar prior to submitting it to the Ombud.

On submitting a complaint to the Ombud, you must satisfy the Ombud of having endeavoured to resolve the complaint with PolarStar, and you must produce the final response (if any) of PolarStar as well as your reasons for disagreeing with the final response.

Contact Details for the FAIS Ombud:

Physical Address: Menlyn Central Office Building, 125 Dallas Avenue, Waterkloof Glen, Pretoria, 0010 Postal Address: P.O. Box 41, Menlyn Park, 0063 Tel: 012 762 5000 Sharecall: 086 066 3274 Email: info@faisombud.co.zaWebsite: www.faisombud.co.za

Dispute Resolution

Subject to urgent and interim court relief, all disputes and/or disagreements and/or damages and/or liabilities in any manner related to the following shall be referred to urgent and confidential arbitration in terms of the expedited arbitration rules of the Arbitration Foundation of South Africa, and such arbitration shall be conducted in Cape Town in English:

  • Interpretation and enforceability of these Terms and Conditions
  • Interpretation of these Terms and Conditions
  • Content (including message headers, links and/or attachments) of any communication; or
  • The sending or receipt of any such communication

Severability

If any of these Terms and Conditions should be determined to be illegal, invalid or otherwise unenforceable, such Term(s) or Condition(s) shall be severed and deleted from the clause concerned and the remaining Terms and Conditions shall survive, remain in full force and effect and continue to be binding and enforceable.

Governing Law

These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of South Africa and you agree to submit to the exclusive jurisdiction of the Courts located in South Africa to resolve any dispute related thereto.

 

Information Disclosures Required by Law:

Polar Star Management (Proprietary) Limited (Registration number:) 2012/070886/07

A copy of our license is available upon request.

Country of incorporation: South Africa

Postal address and address of registered office:

185 Bree Street,Cape Town, South Africa, 8001

Directors: Casper Groenewald & Johann Theron

Web site: https://www.polarstarfunds.co.za

 

COMPLIANCE OFFICER

Herman Verwey

Phone number: +27 21 409 7109 (direct)

Email address: herman@polarstarfunds.com

By using this Website, you shall be deemed to have accepted these Terms and Conditions in full.

 

All complaints submitted to PolarStar will be acknowledged in writing within two working days of the receipt thereof by PolarStar.