Akru Digital Investment Management Agreement
Service Provider

Akru Now Sdn Bhd (formerly known as Main Street Capital Sdn Bhd) (Company No. 201701044476 / 1258649-U) (“Akru Now”) is incorporated under the laws of Malaysia and duly licensed by the Securities Commission (SC) under the Capital Markets and Services Act 2007 (“CMSA”) to carry out digital investment management services in Malaysia. The digital investment management service is a fund management business incorporating innovative technologies into automated discretionary portfolio management services offered to clients.

Service Description

Akru Now offers an attractive and easier way for the investors in Malaysia to regularly invest small and large amounts of money mainly in globally diversified portfolios. The key features of service offered by Akru Now is a computer software-based algorithm that provides clients with investment advice on allocations of exchange-traded funds (ETFs) and funds based on personalised information that each client enters through Akru Now Website or Application (“Digital Investment Management Platform”). Upon confirmation from the client, Akru Now places orders with our broker, Saxo Capital Markets Pte Ltd, to buy, rebalance, and sell the allocation each client selects on the platform. By combining brokerage, custody and investment advisory services, Akru Now simplifies the investment process for its customers. This is collectively called "Digital Investment Management Services".

Digital Investment Management Agreement

This Digital Investment Management Agreement sets out the basis and extent to which Akru Now will provide Digital Investment Management Services to you. In the event you choose to engage Akru Now for the Digital Investment Management Services, you are deemed to have read, understood and agreed to this Digital Investment Management Agreement as set forth hereunder.

All work carried out by Akru Now is subject to these terms except where changes are expressly agreed in writing by both parties. You acknowledge and agree that Akru Now shall retain the right to amend this Digital Investment Management Agreement at any point of time and from time to time by updating on the Website.

Effective Date

This Digital Investment Management Agreement becomes effective the date you click “I Agree” below when you engage Akru Now for the Digital Investment Management Services.

You acknowledge and agree you have taken appropriate measures including consulting financial, legal and technological experts to understand the risks involved before engaging Akru Now for the Digital Investment Management Services.

Know Your Client

In order to comply with the obligations under the applicable anti-money laundering and anti-terrorist financing and other regulations set forth by Bank Negara Malaysia and SC, Akru Now is required to take all reasonable steps to establish the true and full identity of clients including but not limited to obtain and retain your private information Akru Now shall inform you of what details and documents required for you to provide to Akru Now.

In the event you failed to provide the details and documents required for the Digital Investment Management Services within reasonable time and manner, you acknowledge and agree that Akru Now shall have an exclusive right to suspend any part or all of the Digital Investment Management Services.

Duty of Disclosure

It is your duty to ensure that you provide Akru Now honest and accurate information at all times. You acknowledge and agree that this obligation applies at the time of applying for the service and continues throughout the duration of the service.

You warrant and covenant that all information and documents provided to Akru Now for the purposes of the Digital Investment Management Services are accurate and complete.

You acknowledge and agree that the Digital Investment Management Services operate in the manner of algorithm and data computation which are based on the answers and information provided by you to Akru Now. If in any case, the answers and information provided by you are not accurate and complete including material facts and circumstances, the Digital Investment Management Services may not be able to provide accurate and suitable recommendations for your investment.

Investment Advice
Scope and Delivery of Our Investment Advice

You acknowledge that Akru Now shall provide you with the Digital Investment Management Services as described above. You acknowledge and agree that Akru Now shall provide only algorithmic electronic financial advisory unless otherwise agreed. Akru Now may also engage human financial advisors to offer advisory services using our platform when appropriate.

You acknowledge and agree that Akru Now shall provide you with the recommendation, investment advice and deliver the Digital Investment Management Services solely electronically. You further acknowledge that Akru Now shall not provide you with any investment advice in person, over the phone, or in other channels and medium other than information that may be available on the Digital Investment Management Platform.

You acknowledge that you will not be entitled or able to transact in or hold securities in your Akru Now Account other than the ETF selected by Akru Now to comprise the Portfolios for the Digital Investment Management Services.

Portfolios

Akru Now will develop and maintain the Portfolios from time to time. For that purpose, you acknowledge and agree that Akru Now may modify from time to time the number of Portfolios that it deems appropriate, in its sole discretion, to address the investment objectives, time horizons, and risk tolerances associated with categories of clients engaging Akru Now Capital. You agree that Akru Now may, in its sole discretion, modify from time to time the selection of the ETFs that comprise each of the Portfolios and the relative weightings of the ETFs within each of the Portfolios.

Nevertheless, nothing in this section shall be deemed as limiting your rights or Akru Now’ obligations under the laws and regulations applicable in Malaysia.

Recommended Portfolio

In rendering the Digital Investment Management Services, Akru Now shall use a proprietary algorithm that is part of the portfolio advisory application to determine a suitable and profitable portfolio for your investment (“Recommended Portfolio”).

For that purpose, you acknowledge and agree that Akru Now identifies the Recommended Portfolio in reliance on the information you provided. You agree to provide Akru Now with information about you and that you are responsible for ensuring information is true, accurate, complete, and current in accordance with applicable law and the representations, warranties, agreements and indemnification provisions of the Digital Investment Management Agreement.

You acknowledge and agree that Akru Now shall not be liable for any losses and damages suffered by you due to any identification of a Recommended Portfolio which is made based on inaccurate, incomplete or out-of-date information provided by you.

You acknowledge and agree that Akru Now could provide you with the Recommendation Portfolio based on the investment advisory methodology developed for the purpose of Digital Investment Management Services. You acknowledge that the Recommendation Portfolio shall only be considered as an option among the Portfolios exists. You may proceed to accept or reject the Recommended Portfolio for whatsoever reasons. If in any case, you agree to proceed with the Recommended Portfolio, you acknowledge that Akru Now and Digital Investment Management Services do not provide any guarantee, representation, warranty or covenant on the performance of the Recommended Portfolio.

While the Digital Investment Management Services is designed so that trading in your Akru Now Account over time causes the holdings to replicate your Recommended Portfolio, you agree that there is no guarantee, representation, warranty, or covenant that the holdings in your Akru Now Account will match the allocations of your Recommended Portfolio. You acknowledge that the investment made based on the Digital Investment Management Services depends on various factors (including the timing and frequency of deposits and withdrawals, market volatility and disruptions, the timing and frequency of your choice of or changes to your Recommended Portfolio, access interruptions, and hardware or software failures) which may affect the holdings in your Akru Now Account and may not replicate entirely the Recommended Portfolio at any particular point of time.

Akru Now acknowledges and agrees that you shall reserve an exclusive right for any investment made on the Robo Services Platform. Akru Now may offer the Recommended Portfolio for your consideration and approval. If in any case, you elect not to proceed with the Recommended Portfolio and decide to proceed with any other Portfolio, you acknowledge and agree that you have taken reasonable and appropriate measures to review and understand the risks exist in your decision which Akru Now shall not be deemed accountable and liable for any losses and damages incurred by you.

Investment Risks

As an investor, you acknowledge and agree that risks exist in any investment. Akru Now has mitigated the risks by offering the Digital Investment Management Services which are based on the algorithm and computation of data and information provided by you. As an investor, you are deemed to have consulted financial, legal and technological experts to mitigate your investment risks.

Akru Now shall perform and deliver the Digital Investment Management Services in compliance with any applicable laws and regulations in Malaysia and shall not be responsible and liable if in any case your investment decreases in value.

Upon subscribing for the Digital Investment Management Services, you acknowledge and agree that:

  • The ETF in your Akru Now Account may increase or decrease in value due to the market environment.
  • Money invested in your Akru Now Account is subject to market risk and loss up to the amount invested.
  • Past performance, including model back-tested performance of the Recommended Portfolio or other Portfolios, does not guarantee future results.
  • Investment performance of any kind can never be guaranteed by Akru Now. Neither Akru Now nor the Custodian represent or warrant the present or future level of risk or volatility in, or the future performance of, of the Recommended Portfolio, other Portfolios or your Akru Now Account.
  • Performance of the Recommended Portfolio, other Portfolios or your Akru Now Account may differ materially from investment gains and avoidance of investment losses projected, described, or otherwise referenced in forward-looking statements.
  • By participating in the Digital Investment Management Services you may lose opportunities to make other investments and to realise gains from such other investments.
  • Any hypothetical back tested returns associated with any Portfolio are based on assumptions and do not reflect actual results of any Akru Now Account.
  • Your Recommended Portfolio may not be suitable with respect to your investment objectives, risk tolerance, age, financial condition, or other facts or circumstances that apply to you.
  • Akru Now shall not be liable for any losses or other damages resulting from your choice of a Recommended Portfolio; and
  • Data provided by Akru Now or the Custodian may not be free from error or inaccuracies.

You acknowledge and agree that investments made through the Digital Investment Management Platform are not guaranteed by any organisations, banks, or governments.

Diligence and Compliance

As of the date of this Digital Investment Management Agreement, Akru Now has undertaken research and findings conducted in diligence and good faith to understand the market risks involved in your investment portfolio. This includes ensuring full compliance with applicable laws and guidelines issued from time to time by Bank Negara Malaysia and SC.

In relation to your investment portfolio and subscription to the Digital Investment Management Services, Akru Now has conducted appropriate and reasonable measures including but not limited to the following:

  • Establish and understand your risks profile, investment objectives, limitations, restrictions and instructions.
  • Provide you with accurate and complete information of investments including the features, characteristics and nature of underlying assets that may or may not be involved to enable you making an informed investment decision.
  • Obtain your prior approval (if necessary and applicable) for any part or all of the Digital Investment Management Services.
Ongoing Advice to Help Your Holdings Track Recommended Portfolio

To achieve your financial goals of the investment, you authorise Akru Now to conduct Rebalancing from time to time in your Akru Now Account. For that purpose, a proprietary algorithm in the Application will calculate the purchases and sales for each Rebalancing based on automated analysis of your Akru Now Account holdings relative to your Recommended Portfolio. Akru Now will design the orders for Rebalancing to cause the holdings in your Akru Now Account to replicate your Recommended Portfolio more closely after settlement of the purchases and sales that comprise the Rebalancing than before settlement of such purchases and sales. You acknowledge and agree that Akru Now may modify at any time the manner in which, or the frequency with which, Akru Now calculates, generates, and places with the Custodian the orders for Rebalancing. You acknowledge and agree that changes, particularly volatile changes, in the market price of the ETFs in your Recommended Portfolio relative to each other may prevent Rebalancing from successfully making your Akru Now Account holdings more closely approximate your Recommended Portfolio at that point in time.

You authorise Akru Now to conduct Reinvestments on your behalf after each receipt in your Akru Now Account of a dividend on an ETF you own through the Digital Investment Management Services. Akru Now will generally design the orders for Reinvestments to approximate your Recommended Portfolio. Notwithstanding anything to the contrary in any of the Agreements or elsewhere, you agree that Akru Now shall be under no duty to conduct, and makes no guarantee that it will conduct, any Rebalancing or Reinvestment at any particular point of time or a Purchase or Sale for Rebalancing of any ETF in any particular amount.

Funding and Related purchases

You agree that your subscription of the Digital Investment Management Services shall initiate upon your transfer an agreed amount to your Akru Now Account from your bank account. Akru Now shall reserve the right to accept investments funded from other sources or through other means on a case by case basis and subject to the fees in the Digital Investment Management Agreement with the prior express written approval of a duly authorised officer of Akru Now.

You further acknowledge and agree that, upon the fund remitted into the Akru Now Account, you authorise Akru Now to place orders with the Broker on your behalf for purchases of the ETFs that comprise your Recommended Portfolio in amounts calculated by the Digital Investment Management Platform such that the resulting holdings in your Akru Now Account after settlement of such purchases will approximate your Recommended Portfolio. Akru Now undertakes to generate and place the orders for such purchases with good faith efforts and on the Business Day after the fund transferred to the Broker from your Akru Now Account.

Nevertheless, you acknowledge and agree that such orders may be placed any time within five Business Days after the day the funds transferred to the Broker from your Akru Now Account.

Withdrawals and Related Sales

Akru Now acknowledges and agrees that you may withdraw money from your investments in the Digital Investment Management Services by submitting a withdrawal request through the Application at any point of time. You acknowledge and agree that, notwithstanding anything in the Agreement to the contrary, you shall not be able to request withdrawals, or to request sales relating to fund withdrawals, unless and until you connect your Funding Source to your Akru Now Account using the Application. You agree that, by requesting a withdrawal, you authorise Akru Now to place an order with the Custodian on your behalf for sales of ETF in your Akru Now Account in amounts calculated by the Digital Investment Management Platform such that the resulting holdings in your Akru Now Account after settlement of such sales will approximate your Recommended Portfolio.

Akru Now undertakes to generate and place the orders for such sales with good faith efforts and on the Business Day after you request a withdrawal. Nevertheless, you acknowledge and agree that such orders may be placed any time within five Business Days after you request a withdrawal. You agree that, by requesting a withdrawal, you authorise Akru Now to request that the Custodian transfer the proceeds of the applicable sales in the amount you request (or less if the money remaining in your Akru Now Account after deducted any Advisory Fee or other fee due is less) to your Funding Source. You acknowledge and agree that the Custodian will not initiate a transfer of money for a withdrawal until the Business Day after the last applicable Sale to settle for such withdrawal has settled and that it may take up to five Business Days after the Custodian initiates a transfer of money for the proceeds of a withdrawal to arrive in your Funding Source.

Funding Source Connection

You acknowledge and agree that you must use the Application to connect your Akru Now Account to your Funding Source in order to participate in the Digital Investment Management Services. You shall be required by Akru Now to connect your Akru Now Account to your Funding Source by entering into the Application true, accurate, current, and complete information about your Funding Source, including the bank name and bank account number for your Funding Source. You acknowledge that the information you enter into the Application about your Funding Source is information subject to the representations, warranties, and indemnification provisions of the Digital Investment Management Agreement. You acknowledge that your Akru Now Account will not be connected to your Funding Source unless and until you receive a confirmation through the Application indicating that you have successfully connected your Akru Now Account and Funding Source. You agree that, unless and until you successfully connect your Akru Now Account and Funding Source, you will have no right under the Agreements to make related withdrawals or related sales. You further agree that, if your Funding Source is closed or restricted after you connect it to your Akru Now Account, you will have no right under the Agreements to make deposits or withdrawals unless and until: (i) your Funding Source is reopened or unrestricted; or (ii) you successfully connect a different Funding Source to your Akru Now Account.

You acknowledge and agree to be responsible for the charges incurred to transfer and withdraw funds from Akru Now Account.

Limited Trading Authority to Modify and Track Portfolios

Generally, you will direct and are responsible for the direction of your investments through the Digital Investment Management Services by: (i) carefully reviewing the information about investing and the Portfolios available on the Akru Now Website and through the Application; (ii) carefully considering the recommendation by that Akru Now generates for you through the portfolio advisory application of the Recommended Portfolio; and (iii) choosing your Recommended Portfolio. Moreover, it is your sole responsibility to conduct and monitor the inflows and outflows to and from your Akru Now Account by using the Application to initiate deposits and withdrawals. However, Akru Now shall have discretion over assets in your Akru Now Account to the limited extent that Akru Now shall have the authority under the Digital Investment Management Services:

  • to determine and modify from time to time which ETFs comprise each of the Portfolios, including your Recommended Portfolio;
  • to determine when, how often, and in what amounts to conduct Rebalancing in your Akru Now Account;
  • to determine the timing of purchases in relation to deposits; and
  • to determine the timing of sales and withdrawals in relation to requests for withdrawals.
Advisory Fee

You agree to pay the Advisory Fee to Akru Now in accordance with the Digital Investment Management Agreement as a consideration for the services rendered. You acknowledge that the Advisory Fee may be varied from time to time and such variation will be available on the Akru Now Website for your reference and consideration.

Akru Now will charge a one-time administrative account-opening fee of RM10. Akru Now’s clients pay an annual advisory fee based on the following schedule and based on Asset Under Management (“AUM”):

Account Balance Advisory Fee% of AUM (per annum)
First RM100,000 0.7%
Between RM100,000 and RM250,000 0.6%
Between RM250,000 and RM500,000 0.5%
Between RM500,000 and RM1,000,000 0.4%
Between RM1,000,000 and RM3,000,000 0.3%
Above RM3,000,000 0.2%

The advisory fee is charged on the customer’s month weighted average AUM. The advisory fee on withdrawals before the month-end will be charged on a prorated basis up to the point of withdrawal.

Transaction costs such as broking fees and custodian fees and miscellaneous expenses such as auditor and tax agent fees are absorbed by Akru Now.

The ETFs recommended by Akru Now have fees that are separate and distinct from the Advisory Fee paid to Akru Now. These fees are outlined in the prospectus for each ETF.

Akru Now shall reserves the right to waive any fees associated with the Digital Investment Management Services at its sole discretion.

Other Fees

You agree to pay the fees, if any, other than the Advisory Fee that you owe pursuant to this Digital Investment Management Agreement. You acknowledge that such fees may be varied from time to time and such variation will be available on the Akru Now Website for your reference.

Authorisation of Fee Deduction

By clicking below to agree to enter into this Digital Investment Management Agreement, you authorise Akru Now, for the entire period of the Digital Investment Management Services, if any, to process a recurring debit from your account each month for the Advisory Fee of this Digital Investment Management Agreement.

You further authorise Akru Now to instruct the Broker to sell, as necessary, ETF in your Akru Now Account and to transfer money out of your Akru Now Account to pay Akru Now, the Broker or the Custodian amounts, if any, of the Advisory Fee and other fees due under the Agreements.

No Performance Fee

Akru Now and you agree that you will not be charged a performance fee.

Policy on Rebates and Soft Commissions

Akru and its officers, and the Trustee, will not retain any rebate from, or otherwise share in any commission with any broker, any intermediary or any fund house in consideration for directing dealings in the investments of the funds. All dealings with brokers, intermediaries and fund houses are executed on best available terms. Accordingly, Akru will credit any commission and discount received in respect of investments, if any, to the clients.

The SC Guidelines allow the fund management company to receive soft commission from brokers, intermediaries and fund houses which are of demonstrable benefit to the clients. This relates to the provision of data, research and news services for securities, funds and financial markets globally that support investment management.

Your Responsibility to Vote ETF

You acknowledge and agree that you have no right to vote for the ETF in your Akru Now Account and that Akru Now shall not have any obligation to vote and shall not vote such ETF.

Brokerage and Custody Services

You agree to enter into Brokerage, Custody and Agreements with the Broker, Custodian and Trustee which comes into effect when you enter into the Digital Investment Management Agreement.

Akru Now will use Saxo Capital Pte Ltd, as Broker and Universal Trustee (Malaysia) Bhd as custodian for your accounts. Saxo Capital Pte Ltd will be responsible for providing confirmation and statements. Saxo Capital Pte Ltd use Universal Trustee (Malaysia) Bhd as a custodian to hold your funds and ETF in safekeeping and Saxo Capital Pte Ltd to execute, clear, and settle ETF trades on an omnibus basis, Universal Trustee (Malaysia) Bhd is a Custodian that hold all assets of your funds.

Although Akru Now may transmit your requests for withdrawals to the Broker and/or Custodian, Akru Now shall have no authority to initiate any withdrawal or otherwise to transfer any securities or money out of your Akru Now Account other than for fee deduction pursuant to this Digital Investment Management Agreement.

By entering into this Agreement and participating in the Digital Investment Management Services, you authorise and instruct Akru Now to use the Custodian to maintain your Akru Now Account and to handle orders. You acknowledge and agree that Akru Now may combine orders for purchases or sales in your Akru Now Account with orders for purchases or sales of ETF in other accounts in the Digital Investment Management Services and/or with purchases or sales of ETF by Akru Now into larger orders for aggregate transactions for each applicable ETF in the Portfolio. You agree that the Custodian will route orders to the Clearing Broker for execution, clearance, and settlement.

Suspension of Services

You agree that Akru Now, the Custodian, and any of their affiliates or contractors may suspend, delay, limit, restrict, or refuse any or all of the services to you at any point of time for any length of time without any prior written notice to you if either Akru Now or the Custodian believes in good faith that such suspension or delay is necessary or appropriate for the purposes of the following: (i) to ensure compliance with, or avoid, violating any applicable laws or regulations to Akru Now, the Custodian, or a transaction relating to the Digital Investment Management Services; (ii) to comply with a request or guidance from a regulatory or law enforcement authority with jurisdiction over Akru Now, the Custodian, or a transaction relating to the Digital Investment Management Services; (iii) to avoid any loss to Akru Now or the Custodian; (iv) to remediate or otherwise to address problems with technology; (v) due to interruptions in the access to or operation of any technology that Akru Now or the Custodian directly or indirectly use in connection with the Digital Investment Management Services; or (vi) to prevent a breach or violation of any term, condition, or other provision of any of the Agreements.

If Akru Now and the Custodian suspend all services under the Digital Investment Management Services, Akru Now shall credit to your Akru Now Account the prorated Advisory Fee for the period during which all services for your Akru Now Account were suspended and/or delayed. Akru Now may in its sole discretion, but shall not be required to, credit to your Akru Now Account the prorated Advisory Fee or a portion thereof for any period during which services were interrupted, delayed or partially suspended.

Termination

You, Akru Now, or the Custodian may close your Akru Now Account and terminate the Agreements at any time for any reason only by sending an email request via [email protected] or by mailing a signed written request, provided that:

  • if you terminate any of the Agreements, you will be deemed to simultaneously terminate all of the Agreements and they shall cease to have any effect on Akru Now and you;
  • the Custodian will, before closing your Akru Now Account, settle any purchases or sales pending when Akru Now sends or receives a request to close your Akru Now Account; and
  • Akru Now and/or the Custodian will, before closing your Akru Now Account, deduct any unpaid and prorated portion of the Advisory Fee owed for the day Akru Now received your notice and days prior and any other fees owed for irregular services, including paper delivery of documents, transfer of ETF, or physical delivery of ETF.

If in any case, you request to close your Account, Akru Now will initiate a sale, instructing the Broker to sell all ETF in your Akru Now Account and to send the cash, less any portion of the Advisory Fee or other fees due, to your Funding Source.

Conflicts of Interest

Akru Now will advise you of any conflicts of interest that we are aware of and, if required, discuss with you whether or not you elect for Akru Now to continue working for you.

Liability

Notwithstanding anything to the contrary in this Agreement, Akru Now’s total liability to you shall only be limited to the amount of the Advisory Fee Akru Now receives in respect of the policy that you have placed through Akru Now.

Akru Now shall be indemnified by you from any liability (whether in tort (including negligence), contract, statute or otherwise) for any indirect, special or consequential loss or damage suffered by you arising from or in connection with the services.

Nevertheless, the indemnification shall not affect Akru Now’s liability for any death or personal injury arising from Akru Now’s negligence, nor Akru Now’s liability for fraud or any other liability which cannot be excluded or limited under any applicable laws and regulations.

You agree that any claims against Akru Now shall only be brought against Akru Now and no claim shall be brought against any of its employees, directors or officers.

Confidentiality

Subject to the Terms and Conditions and Privacy Policy which are provided on the Website, Akru Now shall treat all information which you pass to Akru Now as private and confidential and will only disclose such information for the purpose of providing the Digital Investment Management Services to you, unless you have consented otherwise.

Disclosure may also be made to Akru Now external auditor and Akru Now regulator to fulfil their regulatory functions or where Akru Now is legally obliged to disclose the information to any third party for regulatory and compliance purposes. Such disclosure may not require Akru Now to obtain any written approval from you.

In relation to the information obtained and retained for the purposes of the Digital Investment Management Services, Akru Now including but not limited to its associates, affiliates, agents and representatives shall ensure compliance with the Personal Data Protection Act 2010. A copy of Akru Now’s Privacy Policy is available on the Akru Now Website. You acknowledge receipt of the Privacy Policy, which Akru Now may amend from time to time at its sole discretion by posting new versions on the Akru Now Website.

You consent to Akru Now recording your telephone calls and your electronic communications with representatives and associated persons of Akru Now without any further notice. You expressly authorise Akru Now representatives or associated persons to contact you for purposes of evaluating and offering the Digital Investment Management Services, and other products and services by calling, writing, or emailing at the telephone number(s), mailing address, and/or email address(es) you provide in connection with your Akru Now Account, including any additional or updated telephone numbers, mailing addresses, email addresses or in any other manner which may deemed appropriate by Akru Now. The authorisation in the preceding sentence will remain in effect unless and until you specifically revoke it by notifying the Akru Now representatives or associated persons with whom you are in contact.

Law and Jurisdiction

This Digital Investment Management Agreement and any dispute or claim arising out of or in connection with them shall be governed by and construed in accordance with the law of Malaysia.

The Malaysian courts will have exclusive jurisdiction over any claim arising from, or related to, a visit to Akru Now’s Website and services offered by Akru Now. Akru Now retains the right to bring proceedings against you for breach of these conditions in your country of residence or any other relevant country.

Assignment

Akru Now shall not assign its rights or obligations under this Digital Investment Management Agreement without your written consent, provided however that you will be deemed to have consented to an assignment if you do not object to such assignment within 60 calendar days of being notified through the Akru Now Website or the Application or by email of any intent of Akru Now to assign such rights or obligations.

Complaints

All complaints should be addressed to Akru Now contact details set out above in the Information about Akru Now section of this Digital Investment Management Agreement.

If Akru Now are unable to settle your complaint with Akru Now, you may either:

  1. Securities Commission Malaysia (SC)
    • Send a letter by post to the address below or fax to +603 6204 8991;

      Investor Affairs & Complaints Department
      Securities Commission Malaysia
      No 3 Persiaran Bukit Kiara
      Bukit Kiara
      50490 Kuala Lumpur

    • Download and complete the online complaint form on the website Complaint Form (pdf – 147KB)
    • Send an email to [email protected];
    • Contact SC at +603 6204 8999; or
    • Walk-in to the SC building to make a complaint or enquiry.

  2. Securities Industry Dispute Resolution Center (SIDREC)

    For any monetary claim not exceeding RM250,000, you can call, email or write to SIDREC. Alternatively, you can submit an enquiry form on SIDREC’s website https://sidrec.com.my/ (please refer to details and FAQs) or simply pay a visit to their office.

    Securities Industry Dispute Resolution Center (SIDREC)
    Unit A-9-1, Level 9, Tower A
    Menara UOA Bangsar
    No. 5, Jalan Bangsar Utama 1
    59000 Kuala Lumpur

    Mobile: +60-16-620 5698
    Tel: +60-3-2282 2280
    Fax: +60-3-2282 3855
    Email: [email protected]

Definition

Application means the software and technology that Akru Now provides to let you access the Digital Investment Management Platform and information about your Akru Now Account using an internet-connected device that is compatible with the Application.

Broker means the party responsible for the execution, clearance, and settlement of purchases and sales of securities

Business Day means any day on which banks in Malaysia and the United States are open for general banking operations.

Custodian, means the party that holds customers' assets on behalf of the customer. It carries and maintains accounting, recordkeeping, and reporting of activities in your Account and separates customers’ assets from that of Akru Now.

ETF means any of the exchange traded funds included by Akru Now in any of the Portfolios.

ETF Shares means the securities that Akru Now buys and sells on your behalf and that the Custodian holds in your Akru Now Account on your behalf.

Funding Source means the checking account that you use to send money to and receive money from your Akru Now Account. It is the bank account that will be the source of deposits and destination of withdrawals from your account.

Portfolios means the model portfolios that Akru Now has developed for its clients to invest in through the Digital Investment Management Platform.

Rebalancing means a combination of purchases and/or sales ordered by Akru Now on your behalf and designed by Akru Now, in its sole discretion, to keep the proportions of ETFs in your Akru Now Account within specified ranges of the corresponding proportions of ETFs in your Recommended Portfolio.

Recommended Portfolio means the Portfolio Akru Now recommends for you based on certain information you supply Akru Now.

Reinvestment means a combination of purchases by Akru Now on your behalf using Cash from dividends paid by ETFs.

Digital Investment Management Platform means the computer software-based online application developed by Akru Now to analyse certain information about you and recommend a Recommended Portfolio for you.