FINANCIAL SERVICES GUIDE

Lakehouse Capital Pty Limited ACN 614 957 603
AFSL No.s 400691 (advice) and 225064 (dealing)
AFSAR No. 0012248827

Date: 9 November 2015

What is a Financial Services Guide?

This Financial Services Guide (FSG) is an important document. You should read it carefully and make sure you understand it.

This FSG is designed to help you decide whether to use any of the services provided by us and is issued by Lakehouse Capital Pty Limited ACN 614 957 603 (referred to as Lakehouse Capital, we, us or our).

This FSG includes information about:

  • Lakehouse Capital and how we can be contacted;
  • the financial services we are authorised to provide;
  • how we are paid;
  • any relevant relationships or associations;
  • how we deal with complaints that you may have about our services;
  • information about internal and external dispute resolution systems and how you can access them; and
  • the compensation arrangements that we have in place.

Who is Lakehouse Capital?

Lakehouse Capital is a Sydney-based investment management wholly-owned subsidiary of Motley Fool Australia Pty Ltd ACN 146 988 052 (Motley Fool Australia)

Lakehouse Capital is the Corporate Authorised Representative of both Motley Fool Australia and One Investment Administration Ltd (“One”), who have both authorised the distribution of this FSG. Lakehouse serves as the investment manager of the Lakehouse Small Companies Fund (the “Fund”) in accordance with an Investment Management Agreement we have entered into with the Fund’s Responsible Entity, One Managed Investment Funds Limited ACN 117 400 987. The Fund is a small-cap managed fund that invests in growth companies across Australia and New Zealand on behalf of its investors. Additionally, the Fund can invest up to 10% of its capital in private market investments (namely, pre-IPO investments).

The financial services we are authorised to provide

Lakehouse Capital is authorised under Motley Fool Australia’s Australian financial services licence (AFSL No. 400691 (advice) ) to provide general financial product advice to retail and wholesale clients and in relation to the following financial products:

  • interests in managed investment schemes (excluding investor directed portfolio services); and
  • securities.

Lakehouse Capital is also authorised under One’s Australian financial services licence (AFSL No. 225064) to provide dealing services to wholesale clients only in relation to the following financial products:

  • basic deposit products;
  • securities; and
  • interests in managed investment schemes, excluding investor directed portfolio services,
    for the purposes of acting as the investment manager of the Fund.

Further details

Further details on investing with in the Fund are set out on our website and in the product disclosure statement (“PDS”) which can be accessed at www.lakehousecapital.com.au/PDS. The PDS contains information about the features, costs, risks, and benefits of investing in the Fund, along with other information to help you make an informed decision about becoming an investor. You should consider the PDS carefully before making a decision to become an investor.

General advice only – investment warning

All of our commentary, statements of opinion and recommendations in relation to financial products, whether on our website or otherwise, contain only general advice. That is, those statements of opinion and recommendations have been prepared without taking into account your personal objectives, financial situation or needs. You should always consider the appropriateness of any general advice in our publications, having regard to your circumstances before you act on the general advice.

You should also consider any product disclosure statement (PDS), additional product disclosure statement (APDS), prospectus or other disclosure document relevant to any financial product referred to in any Lakehouse Capital content before making any decision about whether to acquire any such product.

Lakehouse Capital and its associates will not provide Statements of Advice, as we do not give personal financial product advice.

How are any fees, commissions or other benefits calculated?

Services

Investment management

Lakehouse Capital is the investment manager of the Lakehouse Small Companies Fund. Details of Lakehouse’s fees are disclosed in the PDS.

On-line publications

Our articles and videos are available free of charge on our website. They may also be available on the websites of third parties that have licensed our content.

Remuneration

Lakehouse Capital receives management fees and performance fees for the services it provides. However, it does not receive any other fees, commissions or benefits for the services it provides.

Employees of Lakehouse Capital who prepare research and provide other advice are remunerated by salary. They may also be entitled to a bonus based on the financial performance of The Motley Fool group.

You may request particulars of the remuneration or other benefits received by Lakehouse Capital, its parent company, or their respective directors, employee or associates in relation to the provision of a financial service by Lakehouse Capital to you. Such a request must be made within a reasonable time after you have received a copy of this FSG and before any financial services identified in this FSG have been provided to you.

What relationships or associations do we have that might influence our advice?

Lakehouse Capital and its associated entities, and their respective directors, associates, connected parties and/or employees may from time to time deal in or otherwise have a financial interest in equities and other financial products held in the Fund or referred to on its website or other general financial advice it provides. Any individual who provides advice on behalf of or contributes articles to our website must disclose if they have a financial interest or position in any share mentioned or discussed. Similarly, it will be disclosed to you if Lakehouse Capital or any of its associates has a beneficial interest or position in any share mentioned or discussed. You should review any disclosures made in particular publications as to interests Lakehouse Capital and its representatives may have in the financial products referred to in the publication.

Please note that our parent company, Motley Fool Australia, and other affiliates may have positions in the securities mentioned in our publications. Because we have no non-public knowledge of our parent and affiliates’ holdings, such interests are not disclosed.

All employees of Lakehouse Capital including those who prepare research and other advice are subject to a code of conduct and rules for their personal trading activities. Our major trading rules are:

  • While employees are encouraged to invest in the Funds, they must not trade based on advance knowledge of information that will be traded, published or broadcast by Lakehouse Capital;
  • Employees must not write about a company in the period of 2 full market business days before, to 2 market business days after, trading in the company’s shares;
  • Employees must seek permission prior to placing any trade; and
  • Employees must report their trades to our compliance department within a reasonable time after executing a transaction.

Lakehouse Capital’s parent company, Motley Fool Australia, will likely invest in the Lakehouse Small Companies Fund and will be treated the same as any other investor.

Motley Fool Australia publishes a series of investment newsletters and portfolio services that make investment recommendations. Some of these services may recommend or hold shares that are (or will be) in the Fund. Lakehouse Capital has no non-public knowledge of our parent’s specific recommendations. Similarly, Motley Fool Australia’s personnel have no non-public knowledge of the Fund’s holdings and our planned transactions.

Neither Lakehouse Capital, nor any other member of The Motley Fool group, has otherwise any associations or relationships with the issuers of any products that might reasonably be expected to be capable of influencing Motley Fool Australia in the advice it gives.

How we handle complaints

Lakehouse Capital and its associates are committed to fair and transparent dealings with its clients. We have established complaints handling procedures to ensure that all enquiries and complaints are properly considered and dealt with.

Internal complaints resolution process

In order to investigate a complaint effectively you should provide to us your contact details and any relevant documents and other information that may support your complaint and its resolution.

Written complaints should be sent to:

Lakehouse Capital Pty Ltd
GPO Box 498
Sydney NSW 2001

Alternatively, you can email us at investorsupport@lakehousecapital.com.au. If you would like to talk with us, please contact us on 02 8294 9800.

After we receive your complaint, we will acknowledge the receipt of your complaint by way of post, email or telephone and address your complaint promptly in accordance with our internal procedures. If we determine that your complaint is justified, we will then decide what action should be taken in response. Possible steps include rectifying any mistake, providing you with additional information or documentation to enable you to understand what happened and how we have dealt with it or amending our policies, procedures or systems if a systemic or recurring problem has been identified.

The length of time we will take to resolve your complaint will depend on the nature and complexity of the issue you have raised, and the extent of the enquiries required to enable those issues to be addressed. We will endeavour to resolve the majority of complaints within 10 business days of receiving a complaint. For complaints that require further investigation or additional information from you or for any reason there is a delay in resolving the complaint, we will notify you within 10 business days of the date we receive the complaint and give you an indication of when we will resolve the complaint.

External complaints resolution process

Our parent company Motley Fool Australia is a member of the Financial Ombudsman Service (FOS). FOS is an independent company that has been established to provide free advice and assistance to consumers to help in resolving complaints relating to the financial services industry.

If you feel that your complaint was not dealt with to your satisfaction, you can contact FOS at 1300 780 808 for the cost of a local call. FOS can also be contacted by fax on (03) 9613 6399.

Alternatively, you can lodge a dispute at www.fos.org.au, or submit your complaint to:

Financial Ombudsman Service
GPO Box 3
Melbourne Vic 3001
Australia

The Australian Securities and Investments Commission also has a freecall infoline on 1300 300 630 which you may use to obtain information about your rights.

Our compensation arrangements

We hold a professional indemnity insurance policy which provides insurance coverage, subject to its terms and conditions, for certain liabilities in connection with the professional services provided by our employees and contractors.

Your privacy

Lakehouse Capital and its associates are committed to protecting your personal information. For details on how we use and disclose your personal information, and how you can access and update it, please refer to our Privacy Policy, which is available on our website, lakehousecapital.com.au. You may also obtain a copy of our Privacy Policy by clicking the address set forth below.

How can we be contacted

You can contact us by:

telephone 02 8294 9800
writing to us Lakehouse Capital Pty Ltd
GPO Box 498
Sydney NSW 2001
email investorsupport@lakehousecapital.com.au

For further information

If you would like to clarification of any of the matters discussed in this FSG, you can contact us using the contact details set out above.