Dear user, you are hereby notified that this Privacy Notice corresponding to Operadora COVAF, S.A. de C.V., a Limited Mutual Funds Manager, has been modified on July 4, 2019.
At Operadora COVAF, S.A. de C.V., a Limited Mutual Funds Manager (hereinafter COVAF), we respect your privacy and therefore we are committed to protecting and keeping confidential the information obtained from your company (the “Company”), as well as from natural persons related to your Company.

This Privacy Notice (the "Notice") is made available to you in compliance with the Federal Law for Protection of Personal Information Held by Private Entities, published in the Official Journal of the Federation on July 5, 2010 (hereinafter the "Law"), and its Regulations, published in the same Journal on December 21, 2011, and it is applicable to all information of natural persons related to your Company (hereinafter "Personal Information"), which for any reason is in the possession of COVAF.

This Notice describes the types of Personal Information collected by COVAF, the treatment thereof, as well as the people with whom it is shared.

This document also describes the measures that COVAF has adopted to protect the security of Personal Information, as well as how to contact COVAF to (i) access, correct or delete the Personal Information that has been provided to COVAF; (ii) revoke any consent you have previously given for the processing of Personal Information, as well as the mechanism for the revocation of Personal Information held by COVAF and (iii) ask questions about the privacy practices of COVAF.

The Personal Information that COVAF needs to know about the natural persons related to your Company, and that we therefore request include full name, address (Street and Number, Neighborhood, ZIP or Postal Code, Municipality, State, Country), telephone, Tax ID, Unique Population Registry Code (CURP), e-mail, occupation, company and position. However, COVAF may need more information and may contact them by phone to request it. The information that COVAF needs comes mostly from your Company, but we can obtain more information through other sources to make sure that the information obtained is compiled correctly and completely.

Due to the nature of the services that COVAF provides to its clients, it does not request Sensitive Personal Information, which could intimately affect the natural persons related to your Company, so there is no such information in any type of mass, optical, magnetic, computer or of any other kind of storage under any concept or title.


At COVAF, we will treat the Personal Information that you provide, following at all times these guiding principles:

  • a) Legality: treating Personal Information by adhering and complying with the provisions of Mexican legislation and International Law,
  • b) Consent: treating Personal Information only in accordance with the manifestation of the will of the owner;
  • c) Information: respecting the main characteristics of the treatment to which the Personal Information will be subjected;
  • d) Quality: ensuring that Personal Information is pertinent and correct, this is, ensuring that it is accurate and kept complete and updated;
  • e) Purpose: only the Personal Information in relation to the determined and legitimate purposes for which it has been obtained;
  • f) Loyalty: to privilege the protection of the interests of the owner;
  • g) Proportionality: ensuring that the treatment of Personal Information is as necessary, adequate and relevant in relation to the purposes for which it has been obtained, and
  • h) Responsibility: ensuring and responding for the treatment of Personal Information in your custody.

COVAF undertakes to make its best effort to protect the security of the Personal Information that the user or owner is delivering, through the execution of legal acts, the use of technologies that control the access, use or disclosure without authorization for personal information; for this purpose, personal information is stored in databases with limited access that are located in facilities controlled with security mechanisms; COVAF undertakes to consider the information provided by the user as confidential, and use it under complete privacy. However, COVAF will treat the personal information collected from you as if it were its own information.

You or your duly authorized legal representative may limit the use or disclosure of your Personal Information by contacting the Information Protection Department of COVAF; in addition, you may exercise, when appropriate, the rights of access, rectification, cancellation or opposition that the Law provides through a request submitted in accordance with the procedure and at the address indicated in item I) of this Notice; it is important to mention that the exercise of any such rights is not a prerequisite nor does it prevent the exercise of another right.

The Personal Information that COVAF obtains from the natural persons related to your Company, as well as its use, access, management, use, transfer, disposal, storage or disclosure (hereinafter, jointly, "Treatment"), will be for:

  • a) Providing the service and/or complementary services related to the business purpose of COVAF, and in compliance with the laws and policies that regulate the functions of COVAF and its clients;
  • b) Informing about new products or services that are related to the one contracted or acquired by the client;
  • c) Complying with obligations to our clients;
  • d) Reporting changes on our products or services;
  • e) Evaluating the quality of the service, and
  • f) Conducting internal research on consumer habits
  • g) Marketing or advertising
  • h) Commercial research

In attention to the foregoing, COVAF may share Personal Information with: (i) the other subsidiaries, affiliated and/or related entities of the business group to which COVAF belongs (hereinafter, jointly, "Group Entities")[1], (ii) service providers that COVAF has contracted, and (iii) with third parties when, in the opinion of COVAF, it is necessary for the performance of its business activities (hereinafter jointly the "Parties").

These Parties will only receive the Personal Information they need to carry out their tasks and may use said Personal Information only to offer services on behalf of COVAF and to comply with any applicable legal requirements, which will always be treated in accordance with privacy and security practices for the information of COVAF.

Additionally, COVAF may disclose Personal Information (i) if required by any law or legal process; (ii) if the competent legal or administrative authorities, through a written order, duly founded and motivated, require so, and (iii) when it is considered that its disclosure is necessary or appropriate to avoid any damage or monetary loss, even third party rights.

In any other than these cases, COVAF will not reveal any Personal Information of the natural persons related to your Company to other third parties.

COVAF undertakes to protect the confidentiality of the Personal Information of natural persons related to your Company and that the processing of information will be handled in such a way that its privacy and confidentiality is always protected in terms of the Law.

Both by the privacy practices of COVAF and by the provisions of the Law, the databases of COVAF are protected in an administrative, technical and physical fashion to avoid losses, incorrect uses or unauthorized access, publications, modifications or destruction of the Personal Information that has been provided to COVAF, ensuring at all times the protection of Personal Information, avoiding damage, loss, alteration, destruction and unauthorized use, access or treatment thereof.

If the user enters into a service provision agreement with COVAF, it means that said user has read, understood and agreed to the above terms. If the user does not agree with them, then the user should not provide any personal information.

Your Company must be responsible for delivering this Notice to the natural persons related to your Company.

COVAF assumes: (i) that your Company complies with the obligations established by Law through internal policies and to which COVAF is not subject; (ii) that the Personal Information provided by your Company is pertinent, clear, correct and updated for the purposes for which it is collected, (iii) that your Company is empowered to provide COVAF with the Personal Information of natural persons related to your company.

Natural persons related to your Company may, at any time, exercise their ARCO Rights, this means (i) access their Personal Information held by us and know the details of the treatment thereof; (ii) as well as to rectify it if it is inaccurate, incorrect or out of date; (iii) cancel it when they consider that the information is not required for any of the purposes stated in this Notice, it is being used for non-consensual purposes or the contractual or service relationship has ended, except when damage could be caused to the rights or legitimate interests of third parties or in the cases provided by law, and (iv) oppose the treatment of the information for specific purposes.

The mechanism so that the natural persons related to your Company can exercise said rights, either directly or through their legal representative or if they wish to revoke their consent for the Processing of their Personal Information, will be by free writing addressed to COVAF, to the address of COVAF or to the e-mail cited in the following numeral, which must contain and accompany the following:

  • a) Name, address, and any other means to communicate the response to their request.
  • b) The documents that prove their identity and/or that of the legal representative, if appropriate.
  • c) The clear and precise description of the Personal Information for which they seek to exercise any of the aforementioned rights or the revocation of their consent for the Processing of their Information.
  • d) Any other element or document that facilitates the location of the Personal Information.
  • In the case of requests for Personal Information rectification, the modifications to be made must be indicated and the documentation that supports the request must be provided, when appropriate.

COVAF will notify the natural person related to your Company within a period of no more than 20 (twenty) calendar days from the date that the corresponding request was received, the determination adopted, so that, if it proceeds, it becomes effective within 15 (fifteen) calendar days after the date COVAF communicated the response. In the case of requests to access Personal Information, the delivery will proceed after verification of the identity of the applicant or legal representative, as appropriate.

The delivery of Personal Information to the natural persons related to your Company will be free of charge, having to cover only the justified shipping costs or the cost of reproduction in copies or other formats. However, if the same person reiterates the request in a period of less than twelve months, the costs will not exceed three days of the General Minimum Wage in effect in Mexico City, unless there are substantial modifications to the Notice that motivate new consultations.

If you do not wish to consent to the transmission of Personal Information, or if you have questions regarding the Processing of Personal Information, please contact the area responsible for the protection of Personal Information and by the contact means that appear in the following section.

Our area responsible for Protection of Information is the COVAF Department for Protection of Information, and it is located at Paseo de la Reforma No. 295, Piso 4, Colonia Cuauhtémoc, Alcaldía Cuauhtémoc, Mexico City, C.P. 06500, Mexico, Tel. 50-62-00-45, e-mail

In the event of any change regarding this Notice, COVAF will notify you by e-mail or the updated privacy notice will be delivered to your offices.

[1] Covaf Servicios, S.A. de C.V., y Max Humano, S.A. de C.V.