Important information for digital portfolio management

Table of contents

• Data security & data privacy
• Website specific data protection information
• Legal information
• General Terms and Conditions
• Sustainability information
• Performance
• Information for investors with MorgenFund GmbH, Zweigniederlassung Luxemburg
• Legal information on the investment calculator

MorgenFund GmbH, Luxembourg branch (hereinafter “MorgenFund LB”) continually reviews and updates the information on its websites. Although the utmost care is taken, data can sometimes change in between updates. That is why no liability will be assumed or guarantee provided as to whether the information provided is current, correct or complete. The same applies to all other websites to which hyperlinks refer. MorgenFund LB is not responsible for the content of websites visited on the basis of such links.

Furthermore, MorgenFund LB reserves the right to amend or qualify the information provided.

The content and structure of MorgenFund LB’s websites are protected by copyright. The reproduction of information or data, in particular the use of texts, text excerpts or graphical material, requires the prior consent of MorgenFund LB

Data security & data privacy

The following data protection information provides an overview of the collection and processing of your data.

Respect for our customers' and partners' right to privacy is one of our most important principles. The trust you place in us obliges us to treat your data confidentially and to do everything possible to protect this data from improper use. Of course, the same also applies to the handling of data from your visit to the Internet.

With the following information we would like to give you an overview of the processing of your personal data by us and your rights under data protection law. Which data are processed and how they are used depends to a large extent on the requested or agreed services. Please also provide the information to current and future authorized representatives and beneficial owners. This includes, for example, beneficiaries in case of death or authorized signatories.

1. Who is responsible for data processing and to whom can I contact?

Responsible body is:

MorgenFund GmbH, Luxembourg branch
Parc d’Activite Syrdall 2
18 – 20, rue Gabriel Lippmann
L-5365 Munsbach
Luxembourg
Phone: +352 23645 - 020
Fax: +352 23645 - 025
E-Mail address: customers.luxembourg@service.morgenfund.lu

You can reach our contact person for data protection matters at:

MorgenFund GmbH, Luxembourg branch
Parc d’Activite Syrdall 2
18 – 20, rue Gabriel Lippmann
L-5365 Munsbach
Luxembourg
Phone: +352 23645 - 020
Fax: +352 23645 - 025
E-Mail address: customers.luxembourg@service.morgenfund.lu

2. What sources and data do we use?

We process personal data that we receive from our customers in the course of our business relationship. In addition, to the extent necessary for the provision of our services, we process personal data which we may legitimately obtain and process from publicly accessible sources (e.g. debtor registers, land registers, commercial and association registers, press, media) or which are legitimately transmitted (e.g. for the execution of orders, for the fulfilment of contracts or on the basis of a consent given by you) to us by companies of Deutsche Bank Group or by other third parties (e.g. a credit agency).

Relevant personal data are identity data (e.g. name, address and other contact data, birthday and place and nationality FATCA status, gender, marital status, occupational group key,/partner type (employed/self-employed)), identification data (e.g. identity card data) and authentication data (e.g. electronic specimen signature), tax ID. FATCA data in the prospecting process status. In addition, this may also include order data (e.g. order to open a custody account), data from the fulfilment of our contractual obligations (e.g. securities account turnover), information on your financial situation (e.g. income, asset origin), advertising and sales data (including advertising scores), documentation data (e.g. individual agreement in the conditions for asset management) and other data comparable to the categories mentioned above.

In addition to the aforementioned data, further personal data may be collected, processed and stored when concluding and using products/services from the product categories listed below. These essentially include:
 

Securities transaction/MorgenFund Depot

Current or relevant previous occupation, detailed information on knowledge and/or experience with securities (MiFID status), investment behaviour/strategy (scope, frequency, willingness to take risks), financial situation (assets, liabilities, income from employed/self-employed/commercial activity, expenses), foreseeable changes in the financial circumstances (e.g. Retirement age), tax information (e.g. information on church tax liability), documentation data (e.g. consultation minutes).
 

Customer contact information

During the business initiation phase and during the business relationship, in particular through personal, telephone or written contacts, initiated by you or by the company, further personal data, e.g. information on contact channel, date, occasion and result; (electronic) copies of correspondence and information on participation in direct marketing measures.
 

Digital Services

With regard to the data processed when using digital service products, reference is made to further information on data protection in connection with the respective digital service (e.g. processing of personal data for identification purposes when using the MorgenFund App or MorgenFund Secure Tan App applications).

3. What do we process your data for (purpose of processing) and on what legal basis?

We process the listed personal data in accordance with the provisions of the European Data Protection Ordinance (DSGVO) and current Luxembourger data protection law:

3.1 To fulfil contractual obligations (Art. 6 para. 1 b DSGVO)

The processing of person-related data takes place for the provision of financial services and business within the framework of the execution of our contracts with our customers or for the execution of pre- contractual measures which take place on your request. The purposes of data processing are primarily based on the specific product, in this case the offer and procurement of fund-based asset management, selection of a suitable portfolio as part of the legal suitability test and the opening and execution of securities accounts and the reporting of transactions. Further details on data processing purposes can be found in the relevant contractual documents and terms and conditions.

3.2 In the context of balancing interests (Art. 6 para. 1 f DSGVO)

If necessary, we process your data beyond the actual fulfilment of the contract to protect the legitimate interests of us or third parties.

Example:

• Examination and optimization of procedures for needs analysis for the purpose of direct customer approach
• Review and optimization of the tools and software of our online investment portal
• Enforcement of legal claims and defence in legal disputes
• Ensuring IT security and operation of our online investment portal
• Prevention and investigation of criminal offences
• Measures for business management and further development of services and products
• Advertising or market and opinion research, insofar as you have not objected to the use of your data
• Video surveillance to protect the right of access to the premises, to Collection of evidence in the case of robberies and fraud offences
• Measures for the security of buildings and facilities (e.g. access controls)
• Measures to ensure domiciliary rights
• Risk management in the company

3.3 On the basis of your consent (Art. 6 para. 1 a DSGVO)

If you have given us your consent to process personal data for specific purposes (e.g. transfer of data to the Intermediary or sales organisation and, if applicable, their IT service provider, evaluation of custody account data for marketing purposes and for measures for business management and further development of services and products), the consent serves as the legal basis for processing your personal data. Consent given can be revoked at any time for the future (see section 11 for further information). This also applies to the revocation of declarations of consent that were issued before the EU General Data Protection Regulation came into force, i.e. before 25 May 2018. Please note that the revocation only takes effect for the future. Processing that took place before the revocation are not affected by this. You can view a status overview of your consent can be requested from us at any time. request it from us at any time.

3.4 Due to legal requirements (Art. 6 para. 1 c DSGVO) or in the public interest (Art. 6 para. 1 e DSGVO)

In addition, as a securities institute we are subject to various legal obligations, i.e. legal requirements of the respective jurisdictions (e.g. Securities Institutions Act, Money Laundering Act, Securities Trading Act, tax laws) and regulatory requirements (e.g. the European Securities and Market Supervisory Authority, the Commission de Surveillance de Secteur Financier (Federal Financial Supervisory Authority)). The purposes of the processing include, among other things, suitability testing, identity verification, fraud and money laundering prevention, compliance with tax control and reporting obligations, and the assessment and management of risks in the company.

4. Who gets my data?

Within MorgenFund GmbH, Luxembourg branch, those entities that need access to your data in order to fulfil our contractual and legal obligations are granted access to it. Service providers and vicarious agents used by us may also receive data for these purposes if they comply with the confidentiality and the rules and regulations of the DSGVO. These are among others in the categories financial services, IT services, telecommunications as well as sales and marketing.

With regard to the disclosure of data to recipients outside the company, it should first be noted that, as a branch of a securities institution, we are obliged to maintain confidentiality about all customer-related facts and evaluations of which we become aware. We may only disclose information about you if required to do so by law, if you have given your consent or if we are authorized or obliged to provide such information and/or processors commissioned by us guarantee compliance with confidentiality and the provisions of the EU General Data Protection Regulation/Federal Data Protection Act in the same way. Under these conditions, recipients of personal data may be, for example:

• Public bodies and institutions (e.g. Deutsche Bundesbank, Caisse de Consignation, CSSF, Federal Financial Supervisory Authority (BaFin), European Banking Authority, European Central Bank, financial authorities,) in the event of a legal or regulatory obligation.
• Other credit and financial services institutions or comparable institutions to which we transmit personal data in order to conduct the business relationship with you (e.g. correspondent banks, custodian banks, stock exchanges depending on the contract).
• In detail for the handling of support/maintenance of IT applications, archiving, call centre services, compliance services, controlling, data screening for anti-money laundering purposes, data destruction, customer administration, marketing, research, risk controlling, video legitimation, website management, investment services, share register, fund administration, auditing services, payment transactions, sales organisations and intermediaries and, if applicable, their IT service providers.
• Other recipients of data may be those entities for which you have given your consent to the transfer of data or for which you have exempted us from banking secrecy.
• Other companies required to provide services to you (e.g. DocuSign)
• Members of certain regulated professions such as lawyers, notaries or auditors.

5. Is data transferred to a third country or an international organisation?

Data is only transferred to countries outside the EU or the EEA (so-called third countries) if this is necessary to execute your orders (e.g. payment and securities orders), if it is required by law (e.g. tax reporting obligations), if you have given us a request to do so, or if it is necessary for the execution of your orders (e.g. reporting obligations under tax law), you have given us your consent or within the scope of commissioned data processing. If service providers in third country, they are obliged to comply with the level of data protection in Europe by agreeing to the EU standard contractual clauses in addition to written instructions. Furthermore, additional protective measures can be taken if this is necessary after a transfer impact assessment has been carried out.

6. How long will my data be stored?

We process and store your personal data as long as it is necessary for the fulfilment of our contractual and legal obligations. If the data is no longer required for the fulfilment of contractual or statutory no longer required for the fulfilment of contractual or legal obligations deleted, unless their further processing - for a limited period - is necessary for the following purposes:

• Fulfilment of retention periods under commercial and tax law retention periods: these include the German Commercial Code, the German the German Fiscal Code (Abgabenordnung), the German Securities Money Laundering Act and the Securities Trading Act. The periods specified there for storage or documentation are two to three years. Documentation are two to ten years.
• Preservation of evidence under the statute of limitations. Pursuant to §§ 195 et seq. of the Civil Code (BGB), if applicable, these periods of limitation can be up to 30 years, whereby the regular limitation period is three years.

7. What data protection rights do I have?

Any data subject shall have the right of access under Article 15 DSGVO, the right to correction under Article 16 DSGVO, the right to cancellation under Article 17 DSGVO, the right to limitation of processing under Article 18 DSGVO, the right to opposition under Article 21 DSGVO and the right to data transfer under Article 20 DSGVO. In addition, there is a right of appeal to a competent data protection supervisory authority (Article 77 DSGVO).

You can revoke your consent to the processing of personal data at any time. This also applies to the revocation of declarations of consent issued to us prior to the validity of the basic data protection regulation, i.e. before 25 May 2018. Please note that the revocation only takes effect for the future. Processing that took place before the revocation is not affected by this.

8. Is there an obligation for me to provide data?

Within the framework of our business relationship, you must provide those personal data which are necessary for the establishment and execution of a business relationship and the fulfilment of the associated contractual obligations or which we are legally obliged to collect. Without this information we will usually not be able to conclude or execute the contract with you.

In particular, under the provisions of money laundering law, we are obliged to identify you before establishing the business relationship and to collect and record your name, place of birth, date of birth, nationality, address and identity card data. To enable us to comply with this legal obligation, you must provide us or third parties used by us for this purpose with the necessary information and, if applicable, documents and notify us immediately of any changes arising in the course of the business relationship. If you do not provide us with the necessary information and documents, we may not establish or continue the business relationship you have requested.

9. To what extent is there automated decision making?

In principle, we do not use fully automated decision making according to Article 22 DSGVO for the establishment and implementation of the business relationship. Should we use these procedures in individual cases, we will inform you separately, insofar as this is required by law.

10. Is profiling taking place?

We process some of your data automatically with the aim of evaluating certain personal aspects (profiling). For example, we use profiling in the following cases:

• Due to legal and regulatory requirements, we are obliged to combat money laundering, terrorist financing and asset-polluting crimes. Data is also evaluated (for example, in payment transactions). These measures also serve to protect you.
• In order to be able to inform and advise you specifically about products, we use evaluation instruments. These enable demand-oriented communication and advertising, including market and opinion research, and for the continuous improvement of our services.
• We use scoring methods to assess suitability. The calculation may include, for example, income, expenditure, existing liabilities or occupation. Scoring is based on a mathematic-statistically recognized and proven procedure. The calculated score values support us in decision-making within the scope of product contracts and are included in ongoing risk management.

11. Right of objection

Information on your right of objection under Article 21 EU Data Protection Regulation (DSGVO)

Right to object on a case-by-case basis

You have the right to object at any time for reasons arising from your particular situation to the processing of personal data concerning you under Article 6 (1) (e) DSGVO (data processing in the public interest) and Article 6 (1) (f) DSGVO (data processing on the basis of a balance of interests), including profiling based on this provision within the meaning of Article 4 (4) DSGVO.

If you object, we will no longer process your personal data, unless we can prove compelling reasons worthy of protection for the processing, which outweigh your interests, rights and freedoms, or the processing serves to assert, exercise or defend legal claims.

Right of objection to the processing of data for marketing purposes

In individual cases we process your personal data for direct marketing purposes. You have the right to object at any time to the processing of personal data concerning you for the purpose of such advertising; this also applies to profiling insofar as it is connected with such direct advertising.

If you object to the processing for direct advertising purposes, we will no longer process your personal data for these purposes.

The objection can be made form-free and should be addressed to the responsible body if possible:

MorgenFund GmbH, Luxembourg branch
Parc d’Activite Syrdall 2
18 – 20, rue Gabriel Lippmann
L-5365 Munsbach
Luxembourg
Phone: +352 23645 - 020
Fax: +352 23645 - 025
E-Mail address: customers.luxembourg@service.morgenfund.lu

Website specific data protection information

MorgenFund LB is aware of the importance of the personal data entrusted to it. Respect for our customers' and partners' right to privacy is one of our most important principles. The trust you place in us obliges us to treat your data confidentially and to do everything possible to protect this data from improper use. Of course, the same also applies to the handling of data from your visit to the Internet. In the following, we would like to give you some website specific information on data protection. In addition to these site-specific data protection notices, the data protection notices in accordance with the basic EU data protection regulation also apply, which you can call up here at any time. The data protection information in accordance with the EU Data Protection Basic Regulation contains detailed information on your rights and describes in detail how we use your personal data in connection with your business relationship with MorgenFund LB.

1. Why does MorgenFund, Luxembourg branch collect personal data on its websites?

We collect, process and use personal data on our websites for the purpose of being able to offer you even better products and services, to align our business processes even more closely with our customers and to design efficient access to product information and applications (e.g. for displaying the website and so that you can register and use it on the MorgenFund Online Investment Portal).

2. How is data stored, protected and evaluated?

The information collected on our websites may be forwarded to the responsible unit within MorgenFund GmbH and MorgenFund GmbH, Luxembourg branch when you enter it. The confidentiality of the data is preserved. The data will not be passed on to third parties, unless this is necessary, for example, to fulfil brochure requests (e.g. dispatch of brochures by a service provider). The personal data will only be used in accordance with the purpose resulting from the relevant page of our website on which the data was collected from you. Pages on which we collect personal data are usually encoded using the encryption module built into your browser. These pages are certified by renowned institutions approved for international encryption certification. In addition, MorgenFund LB has taken additional, comprehensive, state-of-the-art security precautions for Internet access to accounts and custody accounts. A firewall system prevents access from outside. Multiple levels of encryption and identification protect customer data from unauthorized access or disclosure by third parties during data transmission. In addition to the internal encryption procedures of the Internet browsers, MorgenFund LB uses even stronger encryption procedures within its own systems to exclude decoding by unauthorized persons. An electronic session token is created during the use of the website and the transmission of data in order to prevent tampering.

3. Cookies

Due to the importance of data protection and our transparency obligation, you will find information below about cookies and how they could be used on our website.

3.1. What are cookies?

Cookies are small text files. These are usually downloaded to your computer or mobile device from the websites you visit. This allows the website to recognize your device when you click through the page (possibly even when you return later) to make it easier for you to use the pages and customize them.

3.2. Some terms facilitate the understanding of cookies and their control:

• Cookies that are installed on your device by the website's operating organisation are called "first-party cookies".
• So-called "third-party cookies" are cookies that are set by a website other than the one currently visited. Such cookies are installed on your device. For example, a cookie installed by a website analysis company to provide the website operator with information about the number of visitors to its website.
• So-called "permanent cookies" remain on your device even if you close your Internet browser. They are activated every time you visit the website that generated this cookie. For example, if a website uses a "permanent cookie" to remember your login information, you do not need to enter it every time you visit the website.
• “Session cookies", on the other hand, are not stored permanently and are normally used to serve a website, for example by allowing a user to move from one page to another without having to log in again. Once you close your browser, all session cookies are deleted from your computer.
• “Flash cookies" are installed from websites that contain media (e.g. video clips). Adobe Flash software is required. This allows content to be downloaded and information stored faster, for example, that the content has been accessed from your device.

3.3 Which cookies do we use?

This website only uses cookies that are technically necessary for the functioning of our website or that offer a service or option that you have requested. E.g. a cookie that "remembers" your personal settings such as selected language or similar.

4. How does MorgenFund, Luxembourg branch collect data and how long is it stored?

Visitors to our websites are informed of any collection, use and processing of personal data that is not permitted or required by the applicable data protection regulations.

Personal data provided to us via our website will only be stored until the purpose for which they were entrusted to us has been fulfilled or automatically deleted completely at the latest after 25 days. If you no longer agree to the storage of your personal data or if it has become incorrect, we will arrange for your data to be deleted or blocked or make the necessary corrections (insofar as this is possible under applicable law). Upon request, you will receive information free of charge about all personal data that we have stored about you. The data protection information in accordance with the basic EU data protection regulation, which you can access here at any time, contain detailed information on In accordance with Luxembourg's data protection laws, our website visitors are separately informed of any collection of personal data on the websites concerned. We do not collect, use or process any personal data in the form of cookies without your express consent, which can also be declared electronically (e.g. for the requirements of brochures). A once declared consent can be revoked at any time with effect for the future.

In accordance with Luxembourg's data protection laws, our website visitors are separately informed of any collection of personal data on the websites concerned. We do not collect, use or process any personal data in the form of cookies without your express consent, which can also be declared electronically (e.g. for the requirements of brochures). A once declared consent can be revoked at any time with effect for the future.

Legal information

The sole binding basis for purchasing investment shares is the relevant sales prospectus containing the terms and conditions, in conjunction with the most recent annual report and/or semi-annual fund report. You can obtain these documents at www.morgenfund.com.

These statements are based on our assessment of current legal and tax positions. In this respect, no assurances can be given that the tax assessment will not change due to legislation, jurisprudence or decrees issued by the financial authorities. Any such changes can also be introduced retroactively, thereby adversely affecting the outlined tax consequences. The views expressed in these statements reflect the current assessment of MorgenFund LB. The opinions expressed in this assessment may be subject to change at any time without prior notice. The tax information is not intended to address all of the tax considerations that may be significant on account of the personal circumstances of the individual investor. Therefore, potential investors are advised to seek advice from a member of the tax consulting professions about the tax consequences of acquiring, holding or selling investment shares.

MorgenFund LB does not guarantee the accuracy of the information contained herein.

General Terms and Conditions

Sustainability information

Performance

The data on past performance is based on the BVI method, i.e. it assumes the reinvestment of undistributed earnings to net asset value without taking into account tax considerations. The data on past performance does not take into account the initial sales charge. Fees, transaction costs, commissions and taxes are not included in the presentation and would have an adverse effect on returns. Data on the performance to date is not an indication of future performance. All figures are subject to inspection by auditors on the reporting dates. Market prices, news and any other market or stock exchange information displayed on this web site is delayed by at least 15 minutes, unless otherwise indicated.

Information for investors with MorgenFund GmbH, Zweigniederlassung Luxemburg
Contact details:

MorgenFund GmbH, Luxembourg branch
Parc d’Activite Syrdall 2
18 – 20, rue Gabriel Lippmann
L-5365 Munsbach
Luxembourg
Phone: +352 23645 - 020
Fax: +352 23645 - 025
E-Mail address: customers.luxembourg@service.morgenfund.lu

All inquiries are recorded in a central system so their current status can be consulted at any time. Our aim is to answer your queries as quickly as possible and find a mutually-beneficial solution. This service is free to our investors. We will let you know if there is any unscheduled delay in resolving your query. The CSSF (Luxembourg’s supervisory authority) is responsible for handling customer complaints filed against the companies under its supervision. In this regard, the CSSF acts as an intermediary with the aim of resolving the dispute between the plaintiff and the company without having to resort to the courts. A prerequisite for initiating the out-of-court complaint resolution process before the CSSF is that the complaint is first dealt with by the financial services provider in question. To this end, all complaints must first be sent in writing to the person responsible for complaints on the management team of the relevant financial services provider. If within one month of sending your complaint to the management of the financial services provider you have not received a satisfactory answer or even confirmation of receipt, you can submit an application for your complaint to be resolved before the CSSF. Please use the following form.

Address:

Commission de Surveillance du Secteur Financier, Département Juridique II, 110, route d’Arlon, L-1150 Luxembourg, or by fax to the following number: (+352) 26 25 1 – 601

Legal information on the investment calculator
Non-binding model calculation

The data provided to you, in particular the performance data, may be different in practice, which inevitably means that the end result may be quite different from your calculations.

It is not possible to carry forward a fund’s past performance into the future. The actual performance depends on the future market development and, therefore, may end up being lower or higher. To that extent, this data only amounts to a non-binding model calculation.

Fiscal aspects are not included in the sample invoice.

The performance was calculated using the BVI method, i.e. it does not include initial charges. In the event of a MorgenFund-withdrawal plan, MorgenFund LB will not make any adjustment to the withdrawal amount in respect of performance. However, the current income must be adjusted to the current value, in order to achieve the goal of consuming the target’s assets in the specified period of time.

This data only amounts to a non-binding model calculation, errors in calculation excepted.

The following applies, when using the estimated annual performance, based on the past performance of the fund: the past performance of the fund is only an indication of future performance during the period you selected. This means that the value of the period you selected is calculated retrospectively from today for the period of time specified by you and then presented as an indication of future performance, although it is not indicative of future results. The actual performance depends entirely on future market development.