This website is for institutional investors in Hong Kong only.
Disclaimers
This website contains information about Hang Seng Investment Management Limited (“Manager”) and the investment funds, exchange traded funds and unlisted funds (“Funds”) offered by the Manager. The Funds invest in different types of investments, such as equities, bonds, money market instruments, collective investment schemes, financial derivative instruments and/ or other instruments, each with its specific investment policy, features and different risk profiles. The Funds may not be suitable for all investors.
- All investments involve risks (including the possibility of loss of the capital invested), prices of fund units may go up as well as down and past performance information presented is not indicative of future performance. There can be no assurance that you will achieve any return on an investment in the units or a return on the capital invested.
- Investment in the Funds is subject to normal market fluctuations and other risks inherent in the underlying assets into which the Funds may invest. There is no assurance that the investment objectives of the relevant Funds will actually be achieved, notwithstanding the efforts of the Manager since changes in political, financial, economic, social and/or legal conditions are not within the control of the Manager. Accordingly, there is a risk that you may not recoup the original amount invested in the relevant Funds and may even lose a substantial part or all of your initial investments. Further, any past performance of the relevant Funds should not be taken as an indication of the Funds’ future performance. There is no guarantee of the repayment of principal or payment of any return.
- Certain Funds are only suitable for medium to long-term investment. It is possible that particular investment made by the Funds cannot be easily unwound or offset in a timely manner and/or at a reasonable price due to insufficient market depth or demand or market disruption. Investments made by a Fund may become illiquid or less liquid, in particular during period of market turmoil or economic uncertainty, as such, the liquidity of the investments of a Fund would have an impact on the ability of the Fund to meet your redemption requests.
- The Funds’ investments may be concentrated in specialised industry sectors, investment instruments or specific country(ies) etc. Consequently, the value of such Funds may be more volatile. Similarly, funds investing in specialised industry sectors or specific country(ies) may be subject to concentration risks associated with that particular industry sectors or country(ies).
- The Funds’ investments may be invested in instruments expressed in other currencies than the base currency of the Funds and a class of units may be designated in a currency other than the base currency of the Funds. The net asset value of the Funds may be affected unfavorably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls. When the Manager seeks to hedge against currency fluctuations (if applicable), there is no guarantee that the hedging strategy will be effective and you may still be subject to the currency exchange risk.
- Funds which invest in equities are subject to the market risks generally associated with equity investment. The market value of the stocks may go up as well as down. Factors affecting the stock values are numerous, including but are not limited to changes in investment sentiments, political environment, economic conditions, business and social conditions in local and global marketplace and issuer-specific factors.
- Funds that invest in bonds or other fixed income securities is subject to (a) interest rate risk, where the value of the fixed income instruments will change inversely with changes in interest rates; (b) credit /counterparty risk (including default risk). This includes the risk that the issuer of such fixed income instruments is unable or unwilling to make timely principal and/or interest payments, or to honor its obligations; (c) downgrading risk; (d) sovereign debt risk. Certain Funds may invest in securities issued or guaranteed by governments and may be exposed to political, social and economic risks; and (e) risks relating to lower-rated/non-investment grade/unrated and/or high yield bonds.
- Funds that invest in debt instruments which are lower-rated/non-investment grade or equivalent or unrated will usually offer higher yields to compensate for the reduced creditworthiness or increased or greater risk of default that these debt instruments carry. Such debt instruments are considered to be predominantly speculative with respect to the issuer’s capacity to pay interest and repay principal. Such default risks could be significant in adverse political, economic, financial, social and/or other market conditions, thereby resulting in significant or total loss of the capital invested therein.
- For Funds that are not actively managed, i.e. index funds, the Manager will not have the discretion to adapt to market changes due to the inherent investment nature of the Funds. Accordingly, an index fund may be affected by a decline in the world market segments relating to its underlying index. An index fund is also subject to tracking error risk, which is the risk that the performance may not track that of the index exactly. There can be no assurance of exact or identical replication at any time of the performance of the underlying index.
- Certain Funds may pay distributions out of the Funds’ capital. Payment of dividends out of capital and/or effectively out of capital, amounts to a return or withdrawal of part of your original investment or from any capital gains attributable to that original investment. Any such distributions may result in an immediate reduction of the net asset value (“NAV”) per unit.
- Certain Funds may invest in financial derivative instruments to meet the investment objectives of the Funds and may therefore lead to higher volatility to their NAVs. Investment in financial derivative instruments may be subject to market risk, liquidity risk and other risks including, but not limited to the risk of adopting different valuation methodologies and imperfect correlation between the derivative and its underlying securities, rates and indices. The leverage element/component of a derivative can result in a loss significantly greater than the amount invested in the derivative by the Funds. Exposure to the derivative may lead to a high risk of significant loss by the Funds.
The above Funds disclosures are not exhaustive. The information contained in this website is not intended as an offer to sell securities or a solicitation to buy the Manager’s Funds. You should not invest in the Funds solely based on the information provided herein and should read the relevant Funds offering documents (including the full text of the risk factors stated therein (in particular those associated with investments in emerging markets for funds investing in emerging markets)) in detail before making any investment decision. If you have any doubt about the contents of this website, you should consult your investment adviser and obtain independent professional advice.
The Funds referred to in this website are authorized by the Securities and Futures Commission (the “SFC”) for sale to the public in Hong Kong. SFC authorization is not an official recommendation or endorsement of a scheme nor does it guarantee the commercial merits or its performance. It does not mean that a scheme is suitable for investor nor it is an endorsement of its suitability for any particular investor or class of investors. This website and information contained in this website have not been reviewed by the SFC.
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