Terms of Use And Privacy Notice And Policy

Before proceeding, you should read the below terms of use (the “Terms of Use”) of the investor portal set up by Penjing Asset Management (Asia) Limited (“Penjing”) (the “Penjing Investor Portal”, which term shall include the following websites the destination links to which are included in the portal: (i) the Penjing corporate website (www.penjing-am.com), (ii) the Professional Investors Suitability Assessment form hosted by Cognito Form, and (iii) the Microsoft sign-in pages for authorised internal staff), as they explain restrictions imposed by law and contract on your access to the information contained in this portal. It shall be your responsibility to be aware of and to observe all applicable laws and regulations of your own jurisdiction. When used in these Terms of Use, (i) “Penjing”, “we”, “our” and “us” mean Penjing Asset Management (Asia) Limited and all of its Affiliates, and “Affiliate” of a person means any other person that directly or indirectly is controlled by or controls such person or is under common control with such person, and (ii) “you” and “user(s)” mean a person who has agreed to the Terms of Use for himself or, as the case may be, for himself and his client(s).

1. General Undertakings. By accessing the Penjing Investor Portal you accept these Terms of Use and you agree to abide by them. You also hereby certify that you are a professional investor, professional client or an eligible counterparty as these terms are defined in the applicable legislation of the jurisdictions pointed out above and pursuant to the definitions contained in the governing documents of the funds managed by Penjing. These Terms of Use set out the terms and conditions upon which you may make use the Penjing Investor Portal and applies to the entire portal. If you do not agree to these Terms of Use, please refrain from using our portal. For the avoidance of doubt, the Terms of Use incorporate the cookies, our Privacy Statement and the disclaimers, and all other rules, policies and procedures that may be published from time to time on our site, each of which is incorporated by reference and each of which may be updated by us from time to time without notice to you.

Access to Penjing Investor Portal is permitted on the basis that you will only use the information you access in Penjing Investor Portal (the “Information“) for the purpose of evaluating a current and/or potential investment in a fund managed by Penjing or another member of the Penjing group of entities (the "Purpose", and “Penjing Group” means Penjing and its related companies and managed vehicles); and you will keep the Information secure and confidential and only disclose it as permitted by this paragraph. You may disclose the Information to your officers, employees, members, partners engaged for the Purpose (each a "Permitted Receiver"), in each case who are bound by confidentiality obligations equivalent to those applicable to you under this paragraph. You may disclose the Information if required by law or regulation, and shall notify Penjing in writing as soon as reasonably practicable of any such requirement (unless not permitted by law or regulation to do so) and shall limit such disclosure to the extent required by law or regulation. Your obligations in respect of each piece of Information under the Terms of Use shall start from the date such Information is first accessed, and shall continue for as long as you retain it, have access to it, or as otherwise required by law. None of Penjing or any other member of the Penjing Group shall be liable for any reliance by you or any of your Permitted Receivers arising from any reliance by you or any of your Permitted Receivers on any of the Information. None of Penjing or any other member of the Penjing Group makes any express or implied representation or warranty as to the accuracy or completeness of the Information, and none shall be liable for any direct or indirect damage arising in any way from the use of, or a termination to any right to use of, any Information. You shall be liable for any breach of this paragraph by a Permitted Receiver which would constitute a breach of this paragraph as if such Permitted Receiver were you. You shall indemnify and hold harmless Penjing and all other members of the Penjing Group for any losses they may incur as a result of a breach of this paragraph. You acknowledge that Penjing and each other member of the Penjing Group is entitled to injunctive relief or specific performance without the need to show special damages if you breach this paragraph.

2. Updates or Amendments to the Penjing Investor Portal without Notice. Prohibitions. The Terms of Use of Penjing Investor Portal may be revised from time to time and updated and any new or amended terms will take effect when they are posted. You are expected to check this page from time to time and to take notice of any changes Penjing may have made, as by using our site you acknowledge that you have accepted any such amendments. You must NOT use Penjing Investor Portal (or permit or procure others to use it) as follows: (A) for any unlawful, improper or illegal purpose or activity; (B) to violate our or any third party’s copyright, trademark, proprietary or other intellectual property rights; (C) to damage our name or reputation or that of Penjing or any of the Penjing Group or any third parties; (D) to impersonate any of our employees or other person or use a false name while using our site or implying an association with us; (E) to penetrate our security measures or other entities’ systems ("hacking"); (F) to generate excessive amounts of internet traffic, to interfere with our network or other’s use of our site or to engage in activities designed to or having the effect of degrading or denying service to users of our site or others; (G) to introduce viruses, worms, harmful code and/or Trojan horses onto the internet or into our site or any other entity’s systems and it is your responsibility to ensure that whatever you download or select for your use from our site is free from such items; and/or (H) to transmit confidential or proprietary information, except solely at your own risk.

3. Marketing restrictions. In line with the general and specific disclaimers above, the use and distribution of information in the Penjing Investor Portal may be restricted by law in certain countries. The Penjing Investor Portal and the information on it is not addressed to any person resident in the territory or country or jurisdiction where such use or distribution would be contrary to local law or regulation. Moreover, no interest in any products in the Penjing Investor Portal will be offered or sold to any subscriber who does not meet the eligibility criteria described in the relevant offering documents.

4. Compliance with law and regulation. When using Penjing Investor Portal, you agree you will comply with all applicable local, national and international laws and regulations, including those related to data privacy, international communications and exportation of technical or personal data. It may be illegal to view and/or download the information contained on the Penjing Investor Portal in certain countries and we and our Affiliates disclaim all responsibility if you access or download any information from our site in breach of any law or regulation of the country in which you are a citizen or in which you are resident or domiciled.

5. Accuracy of information. Penjing has taken reasonable care to ensure that the information in the Penjing Investor Portal is accurate, current, complete, fit for its intended purpose and compliant with applicable law and regulation as at the date of issue. Notwithstanding that, Penjing provides no warranty or makes any representation regarding the accuracy, validity or completeness of the information in the Penjing Investor Portal and no liability is accepted by such persons for the accuracy or completeness of such information. You must conduct your own due diligence and investigations rather than relying on any information in the Penjing Investor Portal. Any person who acts upon, or changes his or her investment position in reliance on, the information contained on our site does so entirely at his or her own risk.

6. Access. Penjing reserves the right to deny you access to the Penjing Investor Portal, or immediately to suspend or terminate your access to it, or to disable any user name or password (whether chosen by you or allocated by us) at any time (in our sole discretion).

7. Liability for use of Penjing Investor Portal. Access to Penjing Investor Portal is permitted on a temporary basis and we reserve the right to withdraw or amend the service and/or information we provide in Penjing Investor Portal without notice. Penjing does not accept any liability if for any reason the Penjing Investor Portal is unavailable at any time or for any period. The information and opinions contained in the Penjing Investor Portal have been compiled, or arrived at, by Penjing from both public and confidential third-party sources believed by Penjing to be reliable as at the date of publication of the information/opinions. However, the information and any opinions contained in the Penjing Investor Portal are subject to change, are for background purposes only and are not to be relied upon as investment advice or interpreted as a recommendation. Penjing and the Penjing Group of entities as well as other third parties connected to them do not accept any responsibility for any reliance which is placed by any visitor to the Penjing Investor Portal, or by anyone who may be informed of any of its contents, on any information or opinions which are expressed herein and, to the extent permitted by law, expressly exclude all conditions, warranties, representations, undertakings and other terms which might otherwise be implied by statute, common law or in equity. Certain information in the Penjing Investor Portal may contain forward-looking statements, which reflect our views with respect to, among other things, securities, markets, market trends, our operations and financial performance. Such forward-looking statements are subject to various risks and uncertainties and speak only as of the date on which they are made. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from this indicated in these statements. Penjing undertakes no obligation to update publicly or revise any information on the portal, whether as a result of new information, future developments or otherwise. Opinions and any other contents in the Penjing Investor Portal are subject to change without notice. Investments in funds involve risks and you understand and acknowledge that investment decisions are subject to economic, market, business, currency, political and other risks; that the value of investments may increase or decrease; and that the entire value of an investment may be lost. Penjing cannot and does not guarantee any specific level of performance or success of any fund or portfolio of funds or of any investment decision or strategy that you may use.

8. No Offers. No Investment Recommendation or Advice. Penjing Investor Portal is provided for informational purposes only and is not intended to constitute an invitation, solicitation or offer to subscribe for or purchase any investments, products or services (including, for the avoidance of doubt, any units or shares in any fund), nor shall it, or the fact of its issuance, form the basis of, or be relied on in connection with, any contract. Penjing makes no representations that transactions, products or services discussed in the Penjing Investor Portal are available or appropriate for sale or use in all jurisdictions where users of the Penjing Investor Portal are domiciled or located, or by all investors. Penjing is not utilizing this portal to provide investment or other advice and no information or material at the Penjing Investor Portal is to be deemed a recommendation to buy or sell any securities or is to be relied upon for the purpose of making or communicating investment or other decisions. In addition, no opinion, information, content or other materials contained in the Penjing Investor Portal should be construed or relied upon as independent research, investment, legal, accounting, tax or other professional advice or in connection with any offer or sale of securities. Any transactions listed in the Penjing Investor Portal are included as representative transactions and are not necessarily reflective of overall performance. Penjing does not advise on the applicable tax treatment, consequences or impact of any investment. Any decision to purchase securities or interests, including with respect to any of the funds managed by Penjing, must only be made having thoroughly read the relevant prospectus or offering memorandum for the relevant fund, including any supplements thereto, which must be received and reviewed prior to any investment decision and which may contain information which is different from the information and opinions contained in the Penjing Investor Portal. Any person subscribing for an investment, product or service referred to in the Penjing Investor Portal must be able to bear the risks involved and must meet the suitability requirements relating to such investment, product or service. Some or all alternative investment programs may not be suitable for certain investors. Therefore Penjing and the Penjing Group of companies and other third parties connected to them expressly exclude any liability and responsibility arising from any reliance placed on such materials and information by any visitor to the Penjing Investor Portal, or by anyone who may be informed of any of its contents, for (i) the accuracy, validity, timeliness, merchantability or completeness of, any information or data (whether prepared by us or by any third party) for any particular purpose or use or that the information or data will be free from error and (ii) any direct, indirect or consequential loss or damage of any kind incurred by any visitor to our site, or by anyone who may be informed of any of its contents, in connection with our site or in reliance on the information or opinions contained in it, or in connection with the use, inability to use, or results of the use of our site or any websites linked to it or materials posted on it. This does not affect Penjing liability for any loss or damage which cannot be excluded or limited under applicable law. The internet is not a completely reliable transmission medium and neither Penjing nor any of our Affiliates accept any liability for any data transmission errors such as data loss or damage or alteration of any kind or for the security or confidentiality of information transmitted across the internet to or from us or any of our Affiliates. Any such transmission of information is entirely at your own risk.

9. Linked websites. Should you leave Penjing Investor Portal via a link contained herein and view content that is not provided by Penjing, you do so at your own risk. Links provided in the Penjing Investor Portal are only as a convenience and without liability. In particular, and without limitation, you understand and agree that the ability to link to another website and the fact that a link exists does not mean that Penjing endorses or guarantees such site, the site sponsor or the site contents. The content which you access via such links will not have been developed, checked for accuracy, or otherwise reviewed by Penjing. Penjing makes no guarantees or representations as to, and shall have no liability for, any electronic content delivered by any third party, including, without limitation, the accuracy, subject matter, quality, sequence or timeliness of any electronic content. Your reliance on any information contained on any site reached through a link shall be your own responsibility. When you leave the Penjing Investor Portal, unless otherwise indicated, you will be subject to the terms of use and privacy policies of the new website which you are visiting.

10. General Disclaimer. Users of the Penjing Investor Portal, as well as those who have access to it, do so at their own initiative and are responsible for compliance with the Terms of Use as well as their respective applicable laws and regulations. Penjing does not guarantee the performance of any investment. Users of the Penjing Investor Portal must make their own independent legal, tax, financial and other relevant assessment of each investment product, investment research, and must take such steps and conduct such investigation as they deem necessary to understand the risks and other considerations involved in any such investment. You understand and acknowledge that you bear the sole discretionary authority and responsibility for evaluating, making and implementing any investment decisions (whether for yourself or for other parties) and any consequences of such decisions and agree that you are solely responsible for meeting all of your contractual, fiduciary or other obligations to any party. Penjing does not accept any liability for any obligations owed by you to others, including those you may owe to your clients. The offering documents of the funds included in the Penjing Investor Portal contain certain risk factors involved but users should be aware that they do not purport to be a complete explanation of the risks involved in an investment in the funds. The offering documents of the funds should be carefully reviewed prior to any determination to invest in the funds. Furthermore, past performance is not indicative of future performance. There can be no assurance that the funds’ investment objective will be achieved. Investments results may vary substantially over time and investment in the funds is not intended to be a complete investment programme for the user.

11. Specific Disclaimer for Users in Hong Kong. The Penjing Investor Portal is exclusively directed at persons who are professional investors as defined in the Securities and Futures Ordinance (Cap. 571, the laws of Hong Kong, the “Ordinance”) and its subsidiary legislation, and the Securities and Futures (Professional Investor) Rules (“PI Rules”). Accordingly, any investment or subscription from a Hong Kong investor will only be accepted if such investor is a professional investor. Please contact Penjing’s investor relations team at IR@penjing-am.com if you require any further information or if you wish to confirm your investment status under the Ordinance and the PI Rules or other applicable regulations.

12. Specific Disclaimer for Users in the EEA. The Penjing Investor Portal is exclusively directed at persons who are professional investors (for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (known as “AIFMD”); professional clients or eligible counterparties for the purposes of the Markets in Financial Instruments Directive (Directive 2004/39/EC) (known as “MiFID”); or as otherwise defined under applicable local regulations and at whom this site and the information on it may lawfully be directed in any relevant jurisdiction. Please contact Penjing’s investor relations team at IR@penjing-am.com if you require any further information or if you wish to confirm your investment status under AIFMD or other applicable regulations. For the avoidance of doubt, nothing contained herein shall be deemed to be directed at nor made available to retail clients.

13. Specific Disclaimer for Users in the United Kingdom. The Penjing Investor Portal may contain information or documents which constitute a financial promotion for the purposes of the Financial Services and Markets Act 2000 and the Financial Conduct Authority rules (the “FCA Rules”). Accordingly, the Penjing Investor Portal is exclusively directed to persons who are professional clients or eligible counterparties as defined in the FCA Rules. Penjing neither provide investment advice to, nor receive and transmit orders from, investors in any funds nor does it carry on any other activities with or for such investors that constitute “MiFID or equivalent third country business” for the purposes of the FCA Rules.

14. Specific Disclaimer for Users in Switzerland. The Penjing Investor Portal shall only be exclusively accessible in Switzerland to, and directed at, qualified investors (the “Qualified Investors”), qualified investors (the "Qualified Investors"), as defined in Article 10(3) of the Swiss Collective Investment Schemes Act ("CISA") in conjunction with Art. 4(4) of the Swiss Federal Act on Financial Services ("FinSA"), i.e. institutional clients, at the exclusion of professional clients with opting-out pursuant to Art. 5(3) FinSA (“Excluded Qualified Investors”). Accordingly, the Company has not been and will not be registered with the Swiss Financial Market Supervisory Authority ("FINMA") and no representative or paying agent have been or will be appointed in Switzerland. The Penjing Investor Portal is exclusively directed at Qualified Investors, at the exclusion of Excluded Qualified Investors.

15. Indemnity. You agree to indemnify, defend, and hold harmless Penjing, Penjing Group of companies and their officers, partners, employees, and agents from and against any and all claims, liabilities, damages, losses, or expenses, including legal fees and costs, arising out of or in any way connected with your breach of the Terms of Use of Penjing Investor Portal and/or access to or use of our site.

16. Privacy Notice and Policy. You hereby confirm that you have read and understood Penjing’s privacy notice and policy set out in Appendix A hereto.

17. Intellectual property rights. Penjing is the owner or the licensee of all intellectual property rights in the Penjing Investor Portal, and in the materials published on it. Those works are protected by laws and treaties around the world. All such rights are reserved. Where permitted, you shall only download and reproduce the materials in the Penjing Investor Portal in hard copy exclusively for your own reference. Such materials shall not otherwise be reproduced, distributed, stored in a data retrieval system or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise) without Penjing prior written consent. Nothing in the Penjing Investor Portal should be construed as granting any license or right in relation to any of our trademarks or those of our Affiliates or any third party.

18. Severability. If any specific term or condition of these Terms of Use of Penjing Investor Portal is determined by a court of competent jurisdiction to be invalid, void or unenforceable, that determination shall not affect the validity of the remaining provisions of these Terms of Use of Penjing Investor Portal. Headings used herein are for convenience, are not substantive and shall not be used to interpret or construe any of the provisions contained in these Terms of Use of Penjing Investor Portal. When used herein the words ’includes’, and ’including’ shall be deemed to be followed by the phrase ’without limitation’.

19. Material Interests. Penjing (its officers and/or employees) may hold securities and investment funds referred to in the Penjing Investor Portal and may otherwise be interested in transactions that you effect in those securities and funds.

20. Governing Law. These Terms of Use of Penjing Investor Portal and any non-contractual obligations arising from or connected with them shall be governed by and shall be construed in accordance with Hong Kong law. Hong Kong courts will have exclusive jurisdiction over any dispute arising from, or related to, use of our site (whether arising out of or in connection with contractual or noncontractual obligations) (“proceedings”) and it is a condition of using our site that you waive any objection to proceedings in such courts on the grounds of venue or that proceedings have been brought in an inconvenient forum, although we retain the right to bring proceedings against you for breach of these Terms of Use in your country of residence or any other relevant country.

21. Third parties. In the case of EEA users, Penjing shall have the benefit of the rights conferred on Penjing by these Terms of Use of Penjing Investor Portal but otherwise no person who is not a party to these Terms of Use may enforce its terms under the Contracts (Rights of Third Parties) Act 1999.

22. Entire agreement. These Terms of Use of Penjing Investor Portal (incorporating our cookies and Privacy Statement), and our disclaimers shall form the entire agreement between you and us in relation to your use of our portal.

23. Contact us. If you have any enquiries in relation to our site or the information on it, please contact ir@penjing-am.com.

24. Cookie control. The Penjing Investor Portal uses cookies. By continuing to use this portal you are giving consent to cookies being used.

Appendix A

Privacy Notice and Policy

This privacy policy and notice ("Privacy Statement"), together with any more specific privacy notices indicated below and any terms and conditions that are applicable to your relationship with Penjing, sets out the basis on which any personal data we collect from you, or that you provide us, will be processed by us in the course of your use of our Investor Portal ("Penjing Investor Portal", which term shall include the following websites the destination links to which are included in the portal: (i) the Penjing corporate website (www.penjing-am.com), (ii) the Professional Investors Suitability Assessment form hosted by Cognito Form, and (iii) the Microsoft sign-in pages for authorised internal staff).

When used in this Privacy Statement, (i) “Penjing”, “we”, “our” and “us” mean Penjing Asset Management (Asia) Limited and all of its Affiliates, and “Affiliate” of a person means any other person that directly or indirectly is controlled by or controls such person or is under common control with such person, and (ii) “you” and “user(s)” mean a person who has agreed to the Privacy Statement for himself or, as the case may be, for himself and his client(s).

This notice applies to you if you are a client or prospective client of Penjing.

Except as otherwise indicated below, Penjing is a data controller in respect of your personal data for the purposes of data protection law, such as the European Union’s General Data Protection Regulation and the Personal Data (Privacy) Ordinance of Hong Kong (“PDPO”). Penjing is responsible for ensuring that it uses your personal data in compliance with data protection law. In respect of your investment in fund(s) managed by Penjing, please refer to the respective subscription agreement(s) for details of the relevant privacy policy and notice.

The Penjing Investor Portal utilizes the service and platform provided by a third-party web-based virtual Investor Portal service provider. Where personal information is collected from you in the course of your use of the Penjing Investor Portal, details of the privacy notice and policy applicable to such third-party service provider may be found on the relevant website. Please contact ir@penjing-am.com for details of the current service provider. Penjing does not accept any responsibility or liability for such policy and notice.

We process your personal data for the purposes as disclosed to you only:

if you have consented us to doing so;
if we need it to perform a contract which we have entered into with you;
if we need it to comply with a legal or contractual obligation; or
if we have a legitimate interest which is not overridden by your interests or fundamental rights and freedoms. Such legitimate interests may be in connection with Penjing's asset management, investment advisory and due diligence business and Penjing's offices security and safety.

Additionally, Penjing will process personal data fairly, and in particular, where applicable Penjing will ensure that your personal data is:

used lawfully, fairly and in a transparent way;
collected only for valid purposes that Penjing has clearly explained and not used in any way that is incompatible with those purposes;
relevant to the purposes notified to you and limited only to those purposes;
accurate and kept us up to date;
kept only as long as necessary for the purposes Penjing has told you about; and
kept securely.

The website and cookies

The Penjing Investor Portal may contain links to other websites or services of interest. However, if you use one of these links to leave the Penjing Investor Portal, you should note that we do not have any control over that other website or service. Therefore, we cannot be responsible for the protection and privacy of any information which you provide whilst visiting a linked website or service and such websites or services are not governed by this Privacy Statement. You should always exercise caution and review the privacy policy applicable to the website or service in question.

What cookies are

A cookie is a small file which asks permission to be placed on your computer or device. Once you agree, the file is added and the cookie helps a web application respond to you as an individual. The web application can tailor its operations to your needs, likes and dislikes by gathering and remembering information about your preferences. Cookies can be “session” cookies (deleted when you close your browser) or “persistent” cookies (stored for a defined period).

Cookies we use on the Penjing Investor Portal

The Penjing Investor Portal uses strictly necessary cookies only. These are required for security and sign-in. They include session cookies that keep you authenticated while you use the Portal. Examples of what these cookies do include remembering that you are signed in, protecting your session from unauthorised use, and supporting secure navigation between Portal pages.

We do not use optional analytics, advertising or “traffic log” cookies on the Penjing Investor Portal to analyse browsing behaviour for marketing or statistical profiling.

Managing cookies

You can choose to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting in order to decline cookies if you prefer to. Because our strictly necessary cookies are required for the Portal to function, declining cookies may prevent you from signing in or using secure areas of the Penjing Investor Portal.

For further details on cookies and how to manage them, we recommend that you visit the All About Cookies website.

Server logs (not cookies)

Separately from cookies, our servers record technical and security information when you use the Penjing Investor Portal — for example IP address, browser type, pages or documents accessed, and timestamps. We use this information for security, fraud prevention, troubleshooting and compliance auditing (including logs of document views, downloads and prints). This processing is performed on our systems and is not the same as placing an analytics or traffic log cookie on your device.

Personal information to be collected

The personal information that we may obtain about you includes, without limitation:

Contact Details: Information such as your name, postal address, contact numbers, nationality/place of incorporation, e-mail address and other contact details.
Payment Data: Information necessary for us to process payments such as account name and number, security code number and other billing details.
Tax Details: Information such as your tax identification number, tax residency and other details pertaining your tax status.
Financial Details: Information such as source of funds and other financial information.
Other Compliance Details: Information we are legally required to collect for compliance purposes such as "Know Your Client" checks, details relevant to international sanctions and restrictive measure, litigations, and any other details that may impact our ability to act.

This information may come from sources such as executed subscription forms, written, electronic or verbal correspondences between you and us and platforms which allow us to access publicly available information.

If you are a natural person, this will affect you directly. If you are a corporate entity (including, for these purposes, legal arrangements such as trusts or exempted limited partnerships) that provides us with personal data on individuals connected to you for any reason in relation to your dealing with us, this will be relevant for those individuals and you should transmit this document to such individuals or otherwise advise them of its content.

Additional information collected through the Penjing Investor Portal

Depending on how you use the Penjing Investor Portal, we may also collect:

Account and identity data - name, e-mail address, login credentials (stored in hashed form), role (investor or internal staff), and authentication provider (portal password or, for authorised staff, Microsoft sign-in).
Security data - two-factor authentication (2FA) settings, e-mail verification status, session identifiers, password reset tokens, and record of sign-in activity (including last login time).
Onboarding and compliance data - records that you have reviewed and accepted required legal agreements (such as the non-disclosure agreement, privacy policy, terms of use and professional investor declaration), including the time of acceptance.
Investor access data - which fund products you are permitted to access for restricted document levels, and saved portfolio configurations you create in the Portal.
Content interaction data - logs of when you view, download or print offering documents and newsletters made available through the Portal, including the document concerned, date and time, and technical information such as IP address and browser user-agent string.
Communications - if we send you service e-mails (for example account invitations, password resets or e-mail verification), we process your e-mail address and the content required to deliver those messages.
Support enquiries - if you contact investor relations by e-mail, we process the information you choose to provide.

We do not intentionally collect sensitive personal data through the Penjing Investor Portal. Please do not submit sensitive personal data unless we specifically request it.

Purposes and legal basis for processing

Your personal data may be processed by Penjing or a third-party (or any of their Affiliates, agents, employees, delegates or sub-contractors) for the following purposes:

Performance of your contract with us

Managing and administering your holdings in the funds managed by Penjing, including assessing and processing applications, communicating with you about your holdings and account related activities on an on-going basis;
To carry out due diligence in order to achieve a sufficient level of knowledge and understanding of a prospect or client and its business, management and employees;
To provide investment advisory, due diligence and risk advisory services;
To manage and maintain our relationships with you and for ongoing customer service;
To enforce or defend Penjing’s, as well as funds managed by Penjing’s rights, itself or through third parties to whom it delegates such responsibilities;
To comply with any applicable legal, tax or regulatory obligations on Penjing or third-party service providers, which derive from anti-money laundering and counter-terrorism legislation.

Comply with legal and regulatory obligations

In order to carry out anti-money laundering checks and related actions including sharing data with police, law enforcement, tax authorities or other government and fraud prevention agencies where we have a legal obligation, including screening transactions, reporting suspicious activity and complying with production and court orders;
To report tax related information to tax authorities;
To investigate and resolve complaints and manage contentious regulatory matters, investigations and litigation;
To monitor electronic communications for investigation and fraud prevention purposes, crime detection, prevention and investigation.

General business management

The day to day running and management of Penjing including to:

monitor, maintain and improve the processes, information and data, technology and communications solutions and services used by Penjing;
perform general, financial and regulatory accounting and reporting;
to pursue the legitimate interests of Penjing;
to build up Penjing’s marketing profiles, aid strategic development and analyze/audit usage of the Penjing Investor Portal;
to provide you with personalized service, processing client orders, registrations and enquiries, conducting market research survey;
protect our legal rights and interests including screening transactions for fraud prevention and anti-money laundering purposes.

Penjing Investor Portal operations

In connection with your use of the Penjing Investor Portal, we also use personal data to:

operate and maintain the Penjing Investor Portal;
authenticate users and protect accounts (including 2FA and session management);
control access to confidential fund information, offering documents and newsletters;
apply watermarks and access restrictions to documents in accordance with confidentiality settings;
maintain audit trails of document access for compliance and security;
manage investor onboarding (password change, email verification, legal acceptances); and
detect, prevent and investigate security incidents, unauthorised access or misuse.

Marketing

Penjing may, if you have provided us with your consent, contact you by mail, telephone, fax, e-mail or other electronic messaging service with offers of Penjing’s other products and services, and may provide you with such documents, materials, news, training or events that Penjing may deem of interest to you. If you do not wish to receive such information from Penjing, or you have changed your mind, please email your wishes to ir@penjing-am.com. Penjing will never pass your contact details on to a third party for direct marketing purposes.

Others

Should we wish to use personal data for other specific purposes (including, if applicable, any purpose that requires your consent), we will contact you.

Recipients of data and international transfer of data

Penjing and the third-party service providers may disclose your personal information as follows:

to their Affiliates and third-party service providers engaged in connection with the oversight, safekeeping, administration, distribution or operation of Penjing, funds managed by Penjing and the Penjing Investor Portal, in order to process the data for the above mentioned purposes. Such parties include service providers who may either process personal data on Penjing's behalf or for their own lawful purposes in connection with services provided to Penjing or funds managed by Penjing; or
to competent authorities (including tax authorities), courts and bodies as required by applicable law or requested by such entities or to Affiliates for internal investigations and reporting. This may include the Cayman Islands Monetary Authority and the Cayman Islands Tax Information Authority and they, in turn, may exchange this information with foreign authorities, including tax authorities.

The disclosure of personal information to the third parties set out above may involve the transfer of data to the USA and other jurisdictions outside the European Economic Area (“EEA”) or outside the Cayman Islands. Such countries may not have the same data protection laws as your jurisdiction. We have put terms in place to ensure that your information is adequately protected and your privacy respected in the case of such a transfer.

In connection with the Penjing Investor Portal, personal data may also be processed by infrastructure and service providers including Amazon Web Services (cloud hosting, file storage and email delivery, primarily in the Asia Pacific (Singapore) region) and Microsoft (identity verification for authorised internal staff sign-in via Microsoft Entra ID).

Retention period and data security

Penjing will retain your personal information for a minimum period of 7 years from the date on which your relationship with Penjing terminates, or for as long as required for Penjing or the third-party service providers to perform the services or comply with applicable legal/regulatory obligations.

Penjing and its duly authorised Affiliates and/or delegates shall apply appropriate technical and organisational information security measures designed to protect against unauthorised or unlawful processing of personal data, and against accidental loss or destruction of, or damage to, personal data provided to it.

In connection with the Penjing Investor Portal, such measures include encrypted connections (HTTPS), access controls, password hashing, optional 2FA, document watermarking, and logging of document access. No method of transmission or storage is completely secure; we cannot guarantee absolute security.

Penjing and/or the third-party service providers shall notify you of any personal data breach that is reasonably likely to result in a risk to the interests, fundamental rights or freedoms of either you or those data subjects to whom the relevant personal data relates.

Consequences of not providing required data

Where Penjing or a third-party service provider requires your personal information to comply with anti-money laundering or other legal requirements, failure to provide this information means Penjing may not be able to accept you as a client and/or may be unable to process or release your investment in funds managed by Penjing. This may result in Penjing terminating its relationship with you. We will tell you when we ask for your information whether it is a statutory or contractual requirement to give us the information and the consequences of not providing the information.

Data subject rights

You have various rights in relation to your personal information, including the right to request access to your personal information, correct any mistakes on our records, erase or restrict records where they are no longer required, object to use of personal information based on legitimate business interests, ask not to be subject to automated decision making if the decision produces legal or other significant effects on you.

Under the PDPO, you may also have the right to lodge a complaint with the Office of the Privacy Commissioner for Personal Data, Hong Kong.

We will respond to your request in writing, or orally if requested, as soon as practicable and in any event not more than within one month after receipt of your request. In exceptional cases, we may extend this period by two months and we will tell you why. We may request proof of identification to verify your request. For more details in relation to your rights, including how to exercise them, please contact us — refer to the “How to contact the company” details below.

If you would rather not receive information from us or would like to be taken off our database, just let us know by contacting us — refer to the “How to contact the company” details below. Please be aware that there may be circumstances where we need to keep your details on the database (for instance, to enable us to provide services to our investors).

How to contact Penjing

If you have any questions about our use of your personal information, please contact us at ir@penjing-am.com.

Penjing Asset Management (Asia) Limited
11-12/F, Chung Nam House
59 Des Voeux Road Central, Central, Hong Kong

This document combines Penjing’s firm-wide privacy notice and policy with supplementary information for the Penjing Investor Portal.