Terms of access




Your access to www.tbfinvest.com.au and www.facebook.com/theboatfund (Websites) is subject to these Conditions and our Privacy Policy.

The Websites are owned and operated by TBF Investment Management Pty Ltd ACN 160 092 419 (TBF IM). TBF IM is an authorised representative, under authorised representative number 434240, of Farnam Investment Management Pty Ltd ACN 149 971 808 (Farnam). Farnam holds Australian Financial Services Licence (AFSL) number 430574 issued by the Australian Securities and Investments Commission (ASIC).  TBF IM is the investment manager of the TBF Small Cap Value Growth Fund ARSN 162 561 613 (Fund) which is offered under a product disclosure statement (PDS) dated 07 December 2015 issued by the responsible entity, Equity Trustees Ltd ABN 46 004 031, AFSL number 240975.   The PDS is available here.  It contains important information including information about the risks of investing in small caps and its contents should be considered before any investment decision is made.


You must read and accept the Conditions in order to access the Websites.  If you do not agree with the Conditions you must not access the Websites. By accessing (including viewing and/or downloading information on) the Websites you are representing agreement with and acceptance of, and are deemed to accept, the Conditions.

All content, information and software (including text, images, photographs, graphics, spread sheets, charts, or other material) provided on and through the Websites by TBF IM (TBF IM Content) may only be used by you solely in accordance with the Conditions.

We reserve the right to make changes to the Conditions from time to time, without notice to you, and at our absolute and sole discretion.  It shall be your responsibility to check the Conditions each time you access the Websites to check for any changes.  We shall not be responsible for informing you of any changes to the Conditions.

As a user of the Websites, TBF IM grants to you a non-exclusive, non-transferable, revocable, limited license to access and use the Websites in accordance with the Conditions.  This license may be terminated by TBF IM at any time for any reason whatsoever.


Whilst all TBF IM Content, is provided by TBF IM in good faith, and believed to be accurate at the time of complication, use of the Websites is at your absolute sole risk.

TBF IM makes absolutely no representation or warranty (and to the extent permitted by law specifically excludes any representation or warranty) and takes no responsibility as to the accuracy, completeness, or suitability of any of the TBF IM Content.  The TBF IM Content:

is general in nature and may be posted solely for educational and discussion purposes;
has not been prepared having regard to and does not take into account your personal financial needs, objectives, circumstances or other financial information (Personal Financial Circumstances);
in the absence of specific personal financial advice provided by a licensed financial advisor, should not be used as the basis for making investment, financial or other decisions;
may be selective, may not be complete or accurate having regard to your particular purposes;
should not be construed as a recommendation to invest in any particular financial product.

We strongly recommend that you obtain advice from a licensed financial advisor as well as other appropriate advisor (including stockbroker, legal and accounting and taxation advisor), that considers your Personal Financial Circumstances before making any financial decision or taking action relating to the Content.

Some of the content posted on the Websites may be user generated content.  TBF IM and its directors, employees, agents, subsidiaries or holding companies (Affiliates) do not approve, endorse our vouch for any of the content posted by users of the Websites.  Content posted by users of the Websites shall be subject to the following provisions of these Conditions.

D.             DISCLOSURE

TBF IM or its affiliates may hold one or more of the securities or financial products mentioned in the TBF IM Content.  TBF IM shall make reasonable efforts to disclose any interest in such securities or financial products by TBF IM or its Affiliates but shall not be responsible for or liability for any failure to do so.


TBF IM may provide functionality via the Websites for users to post material (including text, images, photographs, graphics, spread sheets, charts, or other material), and comment on TBF IM Content (User Content).

TBF IM Content is clearly distinguishable from User Content.   TBF IM Content will be posted under the TBF IM banner, logo, or profile.  Any User Content will be posted under comments section under any TBF IM Content or under the user’s banner or profile in the case of independent User Content posted by the user.

With respect to User Content, users viewing such material are hereby warned by TBF IM that:

1. TBF IM and its Affiliates do not endorse, assure or vouch for the accuracy, reliability, or authenticity of any User Content;

2. As a user you must not post any material as the holder of an AFSL or as a representative of such holder;

3. User Content is at best, general information that does not in any way constitute professional investment advice;

4. User Content is not prepared having regard to your Personal Financial Circumstances.   You should not rely on information contained in any User Content alone.  Before acting on the basis of what is said in a posting you should:

a.     Consult a financial services licensee (ASICs website at www.asic.gov.au allows you to search for financial services licenses); and

b.     Visit ASICs consumer website at www.fido.gov.au for general guidance about investing;

5. Users making postings shall be individually responsible for the accuracy and authenticity of their postings;

6. Because of the nature of the internet, it may be hard to identify or locate the person making the posting.  The person may also be in an overseas jurisdiction, so it may be hard to take any legal action against them.

7. You will not have access to ASIC approved dispute resolution schemes to recover any losses you may suffer by relying on any User Content;

8. Financial products cannot be offered to you for sale or issue through User Content;

9. It is advisable that you alert TBF IM or the ASIC Info line (1399 399 639) if you have a good reason to suspect that any postings are inaccurate, are based on inside information or are likely to mislead or deceive people who view or use the postings.

With respect to User Content, users posting User Content are hereby warned by TBF IM that:

you are personally responsible for any User Content that you post (including any alterations you make to such postings). Therefore, you should not include any misleading or deceptive information in any User Content posted by you and not carry out illegal or unauthorised activities through posting User Content on the Websites. Information in your User Content may, where appropriate, be made available to ASIC. ASIC and people acting on such information may take action against you;
if you include hyper-links to other sites in the User Content posted by you, you may be seen as endorsing the material on such sites. It may be advisable for you to warn people accessing other sites that you do not endorse or take responsibility for material in the hyper-linked sites;
if you own or have some other interest in a security, or you have any connection with a securities issuer that you might benefit from, you must disclose that fact. For example, you may be entitled to receive direct or indirect commissions, fees or other benefits from a financial product or service provider; or you may be associated with a particular securities issuer such as by being an employee or director of a securities issuer. If so, you must disclose that fact in your posting; and
where TBF IM finds or reasonably suspects that any of the User Content that you post is illegal or unauthorised, your right to make post User Content on the Websites will be withdrawn.

In posting any User Content, users must comply with the following rules relating to your conduct and posting of User Content.  You understand that all User Content is the sole responsibility of the person from which such User Content originated.  This means that the user, and not TBF IM is solely responsible for such User Content.  You understand that by reviewing User Content you may unfortunately be exposed to content that may be offensive or objectionable.  Your agree not to use the Websites and post User Content to:

Post any material that breaches the insider trading provisions of the Corporations Act 2001 (Cth);
Post or transmit statements that are intentionally false or misleading or use statements to manipulate the market for any security, or engage in any type of market abuse;
Offer, sell, or buy any security;
intentionally or unintentionally violate any applicable local, state, federal or international law laws, rules, or regulations, including but not limited to any rules or guidelines set down by ASIC and/or the Australian Securities Exchange or other securities exchange;
Post or transmit any content that is overtly political, disruptive, uncivil, abusive, vulgar, obscene, hateful, sexist, fraudulent, threatening, unlawful, harassing, defamatory, or which discloses private or personal matters concerning any person;
Post or transmit any material that you do not have a right to transmit under any law (such as copyright, trademark, trade secrets or securities laws) or under contractual or fiduciary obligations (as in non-disclosure agreements);
Post transmit or link to sexually explicit material;
Impersonate any person or entity, or falsely state or otherwise misrepresent your affiliation with a person or entity; and
Collect or store personal data about other users;
Post or transmit any advertising, promotional materials, or other forms of solicitation including junk mail, chain letters or pyramid schemes.

You agree that TBF IM may or may not pre-screen User Content,  but TBF IM and its Affiliates shall have the right (but not the obligation) in their sole and absolute discretion to pre-screen, refuse, or remove any User Content for any reason whatsoever including but not limited to breach of these Conditions.


To the maximum extent permitted by law, neither TBF IM nor its Affiliates will be liable to, and hereby disclaim any liability to, any party in contract, tort (including for negligence) or otherwise, for any loss, damage, injury or liability (including but not limited to any special, direct, indirect, incidental, or consequential damages of any kind) arising either directly or indirectly or in any way related to:

your use of the Websites;
any errors in or omissions from or inaccuracies whatsoever with respect to the Websites and the TBF IM Content and User Content;
any act or omission in reliance on, use of or inability to use any information displayed on the Websites including TBF IM Content and User Content; and
any third party websites or continent therein directly or indirectly accessed through links in the Websites including but not limited to any errors in or omissions therefrom; and

TBF IM does not exclude any rights or remedies that may be conferred upon you by law and which may not be legally excluded (such as those rights provided by the Competition and Consumer Act 2010 (Cth) and/or similar State and Territory Legislation in Australia), but otherwise TBF IM expressly disclaims all other conditions and warranties, including warranties relating to merchantability, fitness for purpose and non-infringement as may be implied by custom, law or statute.


You agree to indemnify, defend and hold harmless TBF IM and its Affiliates from and against all losses, expenses, damages and costs (including reasonable lawyers’ fees) resulting from any violation of these Conditions by you.  You agree to also indemnify TBF IM and its Affiliates against any claims that information or material which you have submitted as User Content or otherwise is in violation of any law or in breach of any third party rights (including but not limited to claims in respect of defamation, invasion of privacy, breach of confidence, infringement of any intellectual property right whatsoever).  To the extent of any litigation, TBF IM reserves the right to exclusively defend and control any claims arising from the aforementioned indemnification and that you will fully cooperate with TBF IM in case of such defence.

H.             PRIVACY

Your privacy the protection of your personal information is important to TBF IM.  Any of your personal information collected from this site will be handled in accordance with our Privacy Policy.

I.               LINKS

The Websites may contain links (including hyperlinks and other pointers), either posted by TBF IM or users of the Websites, to websites not owned or operated by TBF IM.  Any link posted by TBF IM does not imply a recommendation or endorsement of a website or content of such website.  Such websites are not under the control of TBF and TBF IM does not accept, and expressly disclaims any liability for the availability or content of these sites and urge you to read their terms and conditions before use.  Following a link to and using any of these websites is done entirely at your own risk.


All content on the Websites is protected by applicable Australian and International intellectual property laws.

TBF IM (or its Affiliates) is the owner and authorised user of all trademarks, services marks, design marks, patents, copyright, database rights and all other intellectual property (Intellectual Property) appearing on or contained within the Websites, unless otherwise indicated.

You may only use the content of the Websites for your own personal reference and use.  You must not otherwise use, reproduce, publish, modify, distribute, link, frame, transmit in any form or by any means, electronic or mechanical, for any purpose, any of the Intellectual Property, except with the prior written permission of TBF IM.

You may print a copy of any page for personal and non-commercial purposes provided that you do not remove any copyright notices or any TBF IM trademarks or logos.  Otherwise, you may not modify, copy, reproduce, republish, frame, upload to a third party, post, transmit or distribute the Content including the Intellectual Property in any way except as expressly provided for in writing by the TBF IM.

All trademarks used on Websites are the property of TBF IM or affiliates of TBF IM.  You must not use a trade mark used on the Websites without the prior written consent of the owner of that Mark.


TBF IM reserves the right to investigate any complaints or reported violations of the Conditions, including but not limited to those provisions relating to User Content, as well as to take any action TBF IM deems appropriate in its sole and absolute discretion including but not limited to reporting any suspected unlawful activity to law enforcement officials, regulators or other third parties and disclosing any information necessary or appropriate to such persons or entities relating to user profiles, emails addresses, usage history, posted materials, IP addresses and traffic information.

L.              GOVERNING LAW

These Conditions are governed by are to be construed in accordance with the laws of New South Wales, Australia.  By accepting these Conditions you agree to the non-exclusive jurisdiction of the courts of New South Wales, Australia in respect of any proceedings concerning these Conditions.