Important：
• The Funds may
invest in different investment instruments, such as equities, bonds and/or
other related securities, each Fund with a different investment objective and
risk profile.
• The value of
the Funds can be extremely volatile according to the change of market situation
and could go down within a short period of time. It is possible that the
entire value of your investment could be lost.
• You should not
invest in the Funds unless the intermediary who sells it to you has explained
to you that the Fund is suitable for you having regard to your financial
situation, investment experience and objectives.
• Investors
should not invest in the Funds based on this document alone. Before making any
investment decision, the investor should read the Fund's offering documents
carefully including the risk factors.
Haitong Investment
Fund Series - Haitong Asian High Yield Bond Fund, Haitong Hong Kong Equity
Investment Fund, Haitong Low Carbon Pioneer Equity Fund
• A Sub-Fund may also issue Classes denominated in a currency other than the Base Currency of that Sub-Fund. A Sub-Fund may be invested in part in assets quoted in currencies other than its Base Currency or the relevant Class Currency. The performance of such Sub-Fund will therefore be affected by movements in the exchange rate between the currencies in which the assets are held and the Base Currency of such Sub-Fund or the relevant Class Currency. Since the Manager aims to maximise returns for such Sub-Fund in terms of its Base Currency, investors in such Sub-Fund may be exposed to additional currency risk. These risks may have adverse impact on the relevant Sub-Fund and its investors.
• RMB is currently not a freely convertible currency. The supply of RMB and the conversion of foreign currency into RMB are subject to exchange control policies and restrictions imposed by the Mainland authorities. Liquidity of RMB could deteriorate due to government controls and restrictions which would adversely affect investors’ ability to exchange RMB into other currencies as well as the conversion rates of RMB. As RMB is not freely convertible, currency conversion is subject to availability of RMB at the relevant time. As such, in case of sizable redemption requests for the RMB classes are received, the Manager has the absolute discretion to delay any payment of redemption requests from the RMB classes where it determines that there is not sufficient RMB for currency conversion by the Sub-Fund for settlement purpose.
• Investments in RMB classes by non-RMB based investors are subject to foreign exchange risk. When calculating the value of the RMB classes, the offshore RMB in Hong Kong (the “CNH”) will be used. The CNH rate may be at a premium or discount to the exchange rate for onshore RMB in China (the “CNY”) and there may be significant bid and offer spreads. While CNH and CNY represent the same currency, they are traded in different and separate markets which operate independently. As such, CNH does not necessarily have the same exchange rate and may not move in the same direction as CNY. Any divergence in the CNH/CNY exchange rate may adversely impact the value of the RMB classes and their investors.
Haitong Investment Fund Series - Haitong Asian High Yield Bond Fund
• The Sub-Fund may invest in Asian emerging markets. Investing in emerging markets involves increased risks and special consideration not typically associated with investment in more developed markets such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a higher degree of volatility.
• The Sub-Fund’s investments are concentrated in Asia debt securities (for instance, the Sub-Fund’s investments may be concentrated in debt securities issued by companies that are based in, or with the majority of their business in mainland China). The Sub-Fund may be adversely affected by or depend heavily on the performance of such debt securities. Investors should also be aware that the value of the Sub-Fund may be more volatile than that of a fund having a more diverse portfolio of investments, such as a global bond fund. The Sub-Fund may be more susceptible to fluctuations in value resulting from limited number of holdings or from adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the Asian markets.
Haitong Investment Fund Series - Haitong Hong Kong Equity Investment Fund
• The Sub-Fund’s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, including but not limited to, changes in investment sentiment, political and economic conditions, regional or global economic instability, issuer-specific factors, currency and interest rate fluctuations.
• If the market value of equity securities in which the Sub-Fund invests in goes down, its Net Asset Value may be adversely affected, and investors may suffer substantial losses.
• The Sub-Fund’s investments are concentrated in Hong Kong equity securities. The Sub-Fund may be adversely affected by or depend heavily on the performance of Hong Kong equity securities. Investors should also be aware that the value of the Sub-Fund may be more volatile than that of a fund having a more diverse portfolio of investments, such as a global equity fund, as the Sub-Fund is more susceptible to fluctuations in value resulting from limited number of holdings or from adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting Hong Kong.
Haitong Investment Fund Series - Haitong Low Carbon Pioneer Equity Fund
• The Sub-Fund’s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, including but not limited to, changes in investment sentiment, political and economic conditions, regional or global economic instability, issuer-specific factors, currency and interest rate fluctuations.
• If the market value of equity securities in which the Sub-Fund invests in goes down, its Net Asset Value may be adversely affected, and investors may suffer substantial losses.
• The Sub-Fund invests in the mainland China which is an emerging market. Investing in emerging markets involves increased risks and special consideration not typically associated with investment in more developed markets such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a higher degree of volatility.
• High market volatility and potential settlement difficulties in the China A-Share market may also result in significant fluctuations in the prices of the securities traded on such market and thereby may adversely affect value of the Sub-Fund.
• Securities exchanges in mainland China typically have the right to suspend or limit trading in any security traded on the relevant exchange. The government or the regulators may also implement policies that may affect the financial markets.
Haitong Greater China Vision Fund
• The Fund may invest in emerging markets which may involve increased risks and special considerations not typically associated with investment in more developed markets. The securities markets of some emerging countries/regions are more volatile than developed markets and may, in some circumstances lead to a potential lack of liquidity. Furthermore, investment in emerging markets may be subject to risks such as legal and taxation risks, settlement risks, custody risks, market suspension, control on repatriation capital, currency/exchange controls and other government developments that may adversely affect the economies of emerging markets. Investments in emerging markets may also be affected by changes in political, social or economic uncertainties in the region, which may adversely affect the value of the Fund’s investments.
• The Fund will hold investments denominated in currencies other than the base currency of the Fund, meaning the Net Asset Value of the Fund may be affected unfavourably by fluctuations in the exchange rates between the currencies in which the investments are denominated and the base currency of the Fund. Adverse movements in the foreign currency rates may adversely impact on the value of the Fund.
Haitong Global Investment Fund Series – Haitong Global RMB Fixed Income Fund, Haitong HK Dollar Money Market Fund
Haitong Global RMB Fixed Income Fund (the “Sub-Fund”)
• The principals and/or interests of the Sub-Fund’s investment in Income Instruments may be settled in currencies other than RMB (e.g. USD or HKD). The movements in the exchange rates between RMB and such other currencies may adversely affect the Sub-Fund’s performance.
• The Income Instruments in which the Sub-Fund invests may not be listed on a stock exchange or a securities market where trading is conducted on a regular basis and consequently liquidity may be low. There is also no guarantee that market making arrangements will be in place to make a market and quote a price for all Income Instruments. Certain Income Instruments may be difficult or impossible to sell, and this would affect the Sub-Fund’s ability to acquire or dispose of such securities at their intrinsic value. As a result, this may have adverse impact on the Sub-Fund. In the absence of an active secondary market, the Sub-Fund may need to hold the Income Instruments until their maturity date. If sizeable redemption requests are received, the Sub-Fund may need to liquidate its investments at a substantial discount in order to satisfy such requests and the Sub-Fund may suffer losses in trading such instruments. Even if a secondary market is developed, the price at which the Income Instruments are traded may be higher or lower than the initial subscription price due to many factors including the prevailing interest rates.
Haitong HK Dollar Money Market Fund (the “Sub-Fund”)
• The Sub-Fund mainly invests in short-term and high quality money market instruments and the Sub-Fund’s investment portfolio may fall in value due to any of the specific risk factors below. Investors’ investment in the Sub-Fund may suffer losses as a result. The Sub-Fund is not principal guaranteed and the purchase of its Units is not the same as bank deposits.
• Underlying investment of the Sub-Fund may be denominated in currencies other than the base currency of the Sub-Fund (i.e. HKD). The Net Asset Value of the Sub-Fund may be affected unfavourably by fluctuations in the exchange rates between these currencies and HKD and by changes in exchange rate controls.
• The China debt securities market may be subject to higher volatility compared to more developed markets. The prices of securities traded in such market may be subject to fluctuations. Since the Sub-Fund may invest in debt securities issued in mainland China, it will also be subject to risks inherent in the China market (which is an emerging market) and additional concentration risks.
Risk Warning and
Disclaimer:
• This website is
intended for Hong Kong residents only. Non-Hong Kong residents are responsible
for observing all applicable laws and regulations of their relevant
jurisdictions before accessing the information contained herein. All
information and materials are prepared for general information purposes only,
nothing should be regarded as an offer to sell, to subscribe, or provide any
recommendation to sell investments.
• Investment
involves risks and the value of units may go down as well as up. Past
performance is not indicative of future performance. Investors may suffer a
loss or benefit from investment return. The fund may not be suitable for all
investors.
• SFC authorization
is not a recommendation or endorsement of a scheme nor does it guarantee the
commercial merits of a scheme or its performance. It does not mean the scheme
is suitable for all investors nor is it an endorsement of its suitability for
any particular investor or class of investors.
• Certain information
contained in this website is obtained and prepared from external sources.
Haitong International Asset Management uses its best endeavors to ensure the
information and sources used are reliable and that the views and opinions
provided herein are given in good faith. The data or advice of this website is
subject to change without prior notice. Please seek appropriate professional
advice if you are in doubt of any information contained in this website.
• This website has not been reviewed by the SFC and is issued by Haitong
International Asset Management.
