The legal relationship between an investor and PineBridge Global Funds (the “Fund”) is a contractual one, governed principally by the original application form executed by the investor when subscribing for units in the Fund and the trust deed. As an investor in the Fund, an investor has various rights which derive from:
- the application form, the trust deed, and other relevant documents of the Fund; and
- Applicable Law and Regulation*.
Where applicable, such rights may include, but are not limited to, the right to participate in changes in the net asset value of such investor’s units; the right to a share of any distributions paid out by the Fund; the right to attend at general meetings of the unitholders of the Fund and to vote on any motion tabled at such meetings; subject to certain conditions, the right to call a general meeting of investors in the Fund; the right to request the redemption of the investor’s units by the Fund and certain rights in respect of how the Fund uses the investor’s personal data. The exercise by an investor of these rights is strictly subject to the terms and conditions of the Fund documents and/or legislation from which these rights derive. The foregoing is only a brief summary of examples of the rights of an investor in relation to the Fund. For a more detailed description of their rights vis-à-vis the Fund, investors should consult their own legal or financial advisor.
Both the application form between an investor and the Fund and the trust deed are governed by Irish law. In the event that an investor believes they have suffered loss as a result of the actions or inactions of PineBridge Investments Ireland Limited, an investor may take proceedings against such parties in the Irish courts or, in certain circumstances, in the courts of another jurisdiction. Whether the judgement of a foreign court will be recognised and enforced against PineBridge Investments Ireland Limited in Ireland will depend on the circumstances of the case and will be subject to the relevant national and international law that governs such matters in Ireland. At present, pending implementation of Directive (EU) 2020/1828 on representative actions for consumers, there are no recognised means, in Ireland or at EU level, by which an investor who may have suffered a loss as result of the actions or inactions of the UCITS management company may seek collective redress.
* Applicable Law and Regulation in this regard includes, but is not limited to, Unit Trusts Act 1990, the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 and the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) Regulations 2019, and the Irish Data Protection Acts 1988 to 2018, the General Data Protection Regulation (Regulation (EU) 2016/679), the EU ePrivacy Directive 2002/58/EC, each as amended or replaced from time to time.