4.1Mubasher Investment Strategies are managed by a Third-Party Service Provider. These Mubasher Investment Strategies will appear on a list maintained by MFS. Such list may be published and available on MubasherTrade website or provided otherwise to the Account Holder for investments by the Account Holder. The fact sheets outlining the Mubasher Investment Strategies will also be available to the Account Holder for reference.
4.2The Account Holder shall be solely responsible for the selection of Mubasher Investment Strategies/Mutual Funds. MFS shall provide the Services to the Account Holder in connection with the Mubasher Investment strategies/Mutual Funds on an “execution only” basis, in accordance with its policies, applicable investments parameters, and subject to and in accordance with applicable laws, rules and regulations. MFS does not give any advice regarding Mubasher Investment Strategies/ Mutual Funds, exercise any judgment on your behalf as to the merits of any transactions. Where suggestions are made as to investment approaches, which may be appropriate for the Account Holder, they are based on a limited amount of information. The Account Holder should consider carefully whether an investment is appropriate for the Account Holder’s particular circumstances. Consideration may be given to seeking professional advice before the Account Holder invests in Mubasher Investment Strategies/Mutual Funds.
4.3The Account Holder shall be fully responsible for his/its instructions, while dealing with the market fluctuations and investments risks associated with the Mubasher Investment strategies/Mutual Funds. Further, the Account Holder acknowledges his/its responsibility to select or choose the relevant Mubasher Investment strategies/Mutual Funds that he/it wishes to subscribe to and further agrees that MFS has fully disclosed and explained to the Account Holder, the execution only nature of the Services extended in relation to the Mubasher Investment strategies/Mutual Funds. Therefore, the Account Holder acknowledges by signing these Terms that he/it is fully aware of the execution only nature of the Services extended and that MFS does not warrant any profits or yields under the said Mubasher Investment strategies/Mutual Funds. The Account Holder entrusts MFS with execution only authority to invest in accordance with his/it’s written instructions, for and on behalf of the Account Holder, in such types of Mubasher Investment strategies/Mutual Funds, as may be determined by the Account Holder and to the extent agreed by MFS, which as part of the Services may provide one or more of the following activities:
- Select and engage Third Party Service Provider, broker’s, intermediaries and agents for the provision of one or more of the Services in relation to the Mubasher Investment strategies; and
- At Account Holder’s instructions, invest in Mubasher Investment strategies/Mutual Funds and any other investments.
4.4The availability of particular Mubasher Investment Strategies/ Mutual Funds does not imply that it is necessarily suitable for the Account Holder.
4.5Third Party Service Provider who manages the Mubasher Investment Strategies will control both the percentage mix of the underlying portfolio within the Mubasher Investment Strategies. They may change the balance between different types of portfolio or change the portfolio used within the Mubasher Investment Strategies at any time at their sole discretion.
4.6Contributions will be added to a particular Mubasher Investment Strategy as a whole, and the Account Holder cannot seek to allocate contributions to an individual fund within a particular Mubasher Investment Strategy.
4.7The Account Holder cannot switch the individual funds within the Mubasher Investment Strategy. To change the Account Holder’s allocation of funds to a particular Mubasher Investment Strategy, the Account Holder must first redeem the relevant Mubasher Investment Strategy and subscribe to another Mubasher Investment Strategy.
4.8Withdrawals will be deducted from the Account Holder’s aggregate holdings in any Mubasher Investment Strategy/ Mutual Fund, the Account Holder cannot make withdrawals from individual funds within a particular Mubasher Investment Strategy.
4.9Mutual Funds are available for subscription on an as-is basis. The Account Holder may peruse the available documentation in connection with the Mutual Fund prior to deciding on subscription to such Mutual Fund. Having chosen a Mutual Fund, the Account Holder can at any time move/switch to a different Mutual Fund offered by MFS and managed by the same fund house and also swap is permitted between different fund houses to the extent such funds are available for distribution to MFS or its appointed Third-Party Service Provider.
4.10MFS may cease to offer any particular Mubasher Investment Strategies / Mutual Funds, or change the level of risk associated with the existing Mubasher Investment Strategies. The Account Holder will be given one (1) months’ notice and informed of his/its options in the event of a possibility that the Account Holder will be affected by such changes.
4.11MFS or its appointed Third-Party Service Provider may act as principal when selling assets from the Account Holder’s portfolio, for example: to make payments to the Account Holder under a withdrawal arrangement or when selling assets to meet portfolio charges the assets are removed from the Account Holder’s portfolio to the value of a charge in accordance with clause 13 herein.
4.12MFS will make necessary arrangements in place to enable MFS to deliver the best possible result for the Account Holder when dealing with Account Holder’s investment instructions under these Terms. MFS will carry out the Account Holder’s investment instructions by transmitting them to the Third-Party Service Provider or Administrator or its agent for execution. At present MFS is not aware of and therefore reasonably does not believe that there is any other ‘execution venue’ available that could provide a better outcome for the Account Holder in terms of price, cost, speed, likelihood of execution and settlement, or any other relevant matters.
4.13Where multiple events are due to occur on the same Business Day; MFS reserves the right to determine the order in which they occur as seems appropriate and reasonable in the circumstances for example, a request to pay an additional Lump Sum Contribution and a request for a partial withdrawal on the same Working Day may result in the Lump Sum Contribution being delayed without further liability on the part of MFS.
4.14Bahrain Anti Money laundering Law (AML) 4 of 2001 requires financial services companies to make “Know Your Customer” (KYC) checks on the applicant(s) for the Portfolios or for persons with a beneficial interest in the Portfolios. MFS reserves the right not to process any instruction, including any payments, if satisfactory KYC documents have not been provided or if the Account Holder’s KYC documents are not updated.