At Midlands, we take the responsibility of looking after your hard earned dollars very seriously. We have layers of enhanced security measures and processes in place that are designed to help protect your investment and to give you peace of mind.
The fund's assets are held separately
The Fund’s assets are held separately by an independent custodian and all movements in and out are authorised by our supervisor. Now that’s smart.
Verified bank accounts for withdrawals. No exceptions.
Withdrawals of funds will only be transferred into a verified bank account in your name. No exceptions.
We're just a phone call away
At Midlands, it’s always nice to know you can pick up the phone and talk to a real human about your investment.
Supervisor Approval - an extra level of protection
All bank transactions must be verified and authorised by our independent supervisor. It’s an extra check that adds a layer of protection.
World class cyber security protection
We comply with ‘Essential 8’ cyber security protection, developed by the Australian Government’s Intelligence Agency (ASD).
2 Factor Authentication for additional online security
We use 2 Factor Authentication to access all our important online investor portals.
24/7 ACTIVE MONITORING
We have 24/7 “eyes on glass” monitoring of our platform which means experienced security analysists are always watching over our online platforms.
We're licensed, Supervised & Regulated
To uphold our licence to operate, there are many other strict compliance requirements we must meet which are designed to protect investors and their investment.
WORLD CLASS CYBER SECURITY PROTECTION
At Midlands, we take cybersecurity very seriously. That’s why we invest in ‘Essential 8’ cyber security protection. The Essential 8 Cyber Security Model was set up by the Australian Signals Directorate (ASD). ASD is the federal statutory agency in the Australian Government responsible for national security including foreign intelligence, cyber warfare, information security and support to military operations.
The Essential Eight provides eight mitigation strategies that aim to protect businesses from increasing cyber risks, both from inside and outside the organisation. It provides world class Threat Protection and 24/7/365 Cybersecurity Monitoring and Response.
THE FUND’S ASSETS ARE HELD SEPARATELY
As illustrated in the diagram below, there are actually several companies involved when you invest with Midlands, including ‘Midlands Funds Management Limited’ and ‘FM Custodians Limited’:
1. Midlands Funds Management Limited (Midlands)
Midlands is a completely standalone management company. It has been granted a licence by the Financial Markets Authority (FMA) that allows it to manage the Midlands Smarter PIE Fund (Fund). Midlands makes lending decisions, adheres to the regulatory framework and does everything else to run the Fund. Midlands does NOT take ownership of your investment or own the assets of the Fund, and your investment does not go into Midlands’ bank account. Midlands receive fees from the Fund for its management services.
2. FM Custodians Limited (FM Custodians)
FM Custodians is a standalone company that is completely separate to Midlands. FM Custodians is appointed by our independent supervisor, Trustees Executors Limited, to be responsible for the ‘custody’ or safekeeping of the Midlands Smarter PIE Fund’s assets. When you invest with Midlands, your money goes into FM Custodians’ bank account and the assets of the Fund also sit within FM Custodians. It means that your money is always kept separate from us and it isn’t mixed up with the money used for the day to day running of our business.
Furthermore, all bank transactions in and out of FM Custodians’ bank account are verified and authorised by our independent supervisor. That is, Midlands staff members cannot make any withdrawals or payments out of the FM Custodians bank account without authorisation from the independent supervisor. It’s an extra check that adds a layer of protection for our investors.
This clever structure ensures that if anything were to happen to Midlands Funds Management Limited, the assets of the Midlands Smarter PIE Fund would not be directly affected because they’re held completely separately within FM Custodians Limited.
WE’RE LICENSED, SUPERVISED & AUDITED
The FMA is a Crown Entity responsible for overseeing New Zealand’s financial markets. They protect NZ retail investors by regulating and monitoring retail financial product offers, including the Midlands Smarter PIE Fund. There are 3 different layers of supervision over Midlands Funds Management
- Midlands must hold a licence to operate, granted by the FMA.
- Midlands is supervised by an independent supervisor, Trustees Executors Limited (TEL), who is itself licenced by the FMA and ensures Midlands are adhering to legal requirements and disclosures. TEL also control FM Custodians Limited.
- Midlands’ financial accounts and internal controls are independently audited annually by PWC, a global ‘Big 4’ accountancy and auditing firm.