DST Privacy Notice


This notice sets out how TUTMAN will process personal information (as a Data Controller)

This Privacy Notice explains what personal data (information) we hold about you, how we collect it, and how we use and may share information about you. We are required to notify you of this information under data protection legislation. Please ensure that you read this notice and any other similar notice we may provide to you from time to time when we collect or process personal information about you.

Who collects the information?

Thesis Unit Trust Management Limited (trading as “TUTMAN”) is a data controller and gathers and uses certain information about you in its capacity as authorised corporate director of funds that are open-ended investment companies and as the manager of authorised unit trusts (together “Funds”). At the date of this Privacy Notice, TUTMAN has appointed DST Financial Services Europe Limited as administrator (the “Administrator”).

What information do we collect about you?

We collect your name, address (including proof of name and address), signature, photo identification, personal and work contact details (email address and phone numbers), job title and employer name, nationality/dual nationality, citizenship, tax residency, date of birth, passport details, national insurance number and other tax details, adviser details (where relevant), investment details, banking details, family connections, source of funds, details of any complaints made, data received from due diligence investigations (such as anti-money laundering, politically exposed persons and sanctions checks), fraud enquiries, recordings of telephone conversations and electronic communications with our staff and information about your mental health where a power of attorney is provided.

How do we collect the information about you?

Where your details are provided to TUTMAN as a consequence of your investment in any of the Funds, then TUTMAN, acting as a data controller may itself, or through the Administrator, process your personal information if you are an individual investor or that of your directors,  officers,  employees and/or beneficial owners where you are an institutional investor. When processing your personal information, there may also be times where the Administrator will act as a data controller. In connection with this, please note the following:

Purposes of Processing and Legal Basis for Processing

Your personal data may be processed by TUTMAN or the Administrator (or any of their affiliates, agents, employees, delegates or sub-contractors) for the following purposes:

  • to facilitate the opening of your account with TUTMAN in respect of the relevant Fund, the management and administration of your holdings in that Fund and any related account on an on-going basis (the “Services”) which are necessary for the performance of your investment in the Fund, including without limitation the processing of redemption, conversion, transfer and additional subscription requests and the payment of distributions;
  • in order to carry out anti-money laundering checks and related actions which TUTMAN considers appropriate to meet any legal obligations imposed on TUTMAN relating to, or the processing in the public interest or to pursue TUTMAN’s legitimate interests in relation to, the prevention of fraud, money laundering, terrorist financing, bribery, corruption, tax evasion and to prevent the provision of financial and other services to persons who may be subject to economic or trade sanctions, on an on-going basis, in accordance with TUTMAN and the Administrator's anti-money laundering procedures;
  • to report tax related information to tax authorities in order to comply with a legal obligation;
  • to monitor and record telephone calls and electronic communications for (i) processing and verification of instructions, (ii) investigation and fraud prevention purposes, (iii) for crime detection, prevention, investigation and prosecution, (iv) to enforce or defend TUTMAN and its affiliates, itself or through third parties to whom it delegates such responsibilities or rights in order to comply with any legal obligation imposed on TUTMAN, (v) to pursue TUTMAN’s legitimate interests in relation to such matters;
  • to disclose information to other third parties such as service providers of the Fund appointed by TUTMAN, auditors, regulatory authorities and technology providers in order to comply with any legal obligation imposed on TUTMAN or in order to pursue the legitimate interests of TUTMAN in respect of the Funds;
  • to monitor and record telephone calls for quality, business analysis, training and related purposes in order to pursue the legitimate interests of TUTMAN to improve its service delivery;
  • to update and maintain records and fee calculation;
  • to retain anti-money laundering and other records of individuals to assist with the subsequent screening of them by the Administrator including in relation to other funds or clients of the Administrator in pursuance of the Administrator's and its clients' legitimate interests; and which are necessary to comply with TUTMAN’s or the Administrator’s legal or regulatory obligations and/or which are necessary for TUTMAN’s or the Administrator's legitimate interests relating to the Funds indicated above and/or the processing is in the public interest.

Recipients of Data

TUTMAN may disclose your personal information as follows:

  • to the service providers, including the Administrator, and their affiliates and approved sub-contractors, and other third party service providers engaged by TUTMAN on behalf of the Funds in order to process the data for the above mentioned purposes;
  • to competent authorities (including tax authorities), courts and bodies as required by law or requested or to affiliates for internal investigations and reporting;
  • to the depositary or the trustee of the Fund in which you invest for compliance with their regulatory obligations in relation to the Fund;
  • to professional advisers; and
  • to potential purchasers of some or all of our business or on

Recipients with whom we share your personal data as an investor, and why we may need to share it, are set out in our list of personal data recipients, which will be available, and updated from time to time, on our website at www.tutman.co.uk. A hard copy can be obtained from the Head of Compliance – please see “How to Contact Us” below for contact details.

Usually, information will be anonymised but this may not always be possible. The recipient of the information will be bound by confidentiality obligations.

We seek to ensure that our information collection and processing is always proportionate. We will notify you of any changes to information we collect or to the purposes for which we collect and process it.

Where information may be held

Information may be held at TUTMAN’s offices, the Administrator’s offices and the offices of any of their affiliates, agents, employees, delegates or sub-contractors. 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) in accordance with the requirements of any legislation in force from time to time in England that implements the General Data Protection Regulation (Regulation (EU) 2016/679 of the European Parliament and of the Council). Such countries may not have the same data protection laws as your jurisdiction. TUTMAN has authorised the Administrator as its agent to put in place Standard Contractual Clauses with relevant parties to whom personal data will be transferred. Please contact the Administrator for copies of the Standard Contractual Clauses that have been entered into on behalf of TUTMAN in respect of the Funds.

Retention period

TUTMAN and the Administrator will retain your personal information for as long as required for TUTMAN or the Administrator to perform the Services or perform investigations in relation to same depending on whether additional legal/regulatory obligations mandate that TUTMAN retains your personal information. We have a regulatory requirement to retain records for six years to enable the Funds and TUTMAN to comply with the Financial Conduct Authority Rules and The Open-Ended Investment Company Regulations 2001 as amended from time to time. We will require a reasonable number of working days to complete the deletion of your personal data from our systems and those of the recipients with whom we share your data.

Data Subject Rights

You have the following rights, in certain circumstances, in relation to your personal information:

  • Right to access your personal
  • Right to rectify your personal
  • Right to restrict the use of your personal information (in certain specific circumstances).
  • Right to request that your personal information is erased (in certain specific circumstances).
  • Right to object to processing of your personal information (in certain specific circumstances).
  • Right to data portability (in certain specific circumstances).

Please contact compliance@thesisam.com if you would like to correct or request access to information or request information be erased that we hold relating to you or if you have questions about this notice. We may only charge a reasonable fee for responding to access requests if the request is manifestly unfounded or excessive, especially if it is repetitive, or the request is for further copies of the same information.

Where TUTMAN or the Administrator requires your personal information to comply with anti-money laundering or other legal requirements, failure to provide this information means TUTMAN may not be able to accept you as an investor in the relevant Fund.


For users of our website, www.tutman.co,uk, web browser cookies, which are small text files, are placed on your computer to store information such as your IP address or other identifier, your browser type, and information about the content you view and interact with on our website. This information is used to remember your preferences and settings, remember information you may enter online, to keep you logged on to portals that we may offer, to generate statistics about how visitors use our website and to improve our website. Cookies do not give us access to your computer or any information about you, other than the data you choose to share with us.

For more information on the cookies we use and why, please go to www.tutman.co.uk and refer to the Cookie Policy.

You can choose to accept or decline cookies via your browser settings. To find out how to manage and delete cookies, visit www.aboutcookies.org or www.allaboutcookies.org. To opt out of being tracked by Google Analytics across all websites visit http://tools.google.com/dlpage/gaoptout.

Opting not to use cookies may prevent you from taking full advantage of the website.

How we keep your information secure

We have appropriate security measures in place to prevent personal information from being accidentally lost, or used or accessed in an unauthorised way. We limit access to your personal information to those who have a genuine business need to know it. Those processing your information will do so only in an authorised manner and are subject to a duty of confidentiality. This also extends to our subcontractors.

We also have procedures in place to deal with any suspected data security breach. We will notify you and any applicable regulator of a suspected data security breach where we are legally required to do so.

How to complain

You have the right to lodge a complaint with a supervisory authority in the EU Member State of your habitual residence or place of work or in the place of the alleged infringement if you consider that the processing of personal data relating to you carried out by TUTMAN or its service providers infringes the General Data Protection Regulation.

Changes to our Privacy Notice

We will keep this Privacy Notice under regular review. Any changes we make to our Privacy Notice will be posted on our website at www.tutman.co.uk or can be requested by email from the Head of Compliance at compliance@thesisam.com or by writing to The Head of Compliance, TUTMAN, Exchange Building, St John’s Street, Chichester, West Sussex PO19 1UP. This Privacy Notice was created to be effective 25 May 2018.

Do you need extra help?

If you would like this notice in another format (including audio, large print and braille), please contact us.

How to contact us

If you have any questions about our use of your personal information, please contact us by email at compliance@thesisam.com, or by writing to The Head of Compliance, TUTMAN, Exchange Building, St John’s Street, Chichester, West Sussex PO19 1UP or by calling 01243 531234.