Product Risk Warning:

Investment involves risks, including the loss of principle. Past performance is not indicative of future results. Before investing in below products, investor should refer to the Fund's prospectus for details, including the risk factors. You should not make investment decision based on the information on this material alone. Please note:


Important Information about ChinaAMC Hang Seng TECH Index ETF

  • The Fund aims to provide investment result that, before fees and expenses, closely corresponds to the performance of the Hang Seng TECH Index (the "Index").
  • The Fund is passively managed and the Manager will not have the discretion to adapt to market changes. Falls in the Index are expected to result in corresponding falls in the value of the Fund.
  • The Fund’s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors.
  • The Index is a new index. The Fund may be riskier than those tracking more established indices with longer operating history.
  • The Fund is subject to concentration risks in companies with technology theme and in a single geographical region (i.e. Greater China). The Fund may be more volatile than a broadly-based fund.
  • Companies in the technology sector are characterised by relatively higher volatility in price performance when compared to other sectors.
  • The Fund may be exposed to risks associated with different technology sectors and themes. A downturn in the business for companies in these sectors or themes may have adverse effects on the Fund.
  • The Fund is subject to tracking error risk, which may result from the investment strategy used, and fees and expenses.
  • If there is a suspension of the inter-counter transfer of units and/or any limitation on the level of services by brokers and CCASS participants, Unitholders will only be able to trade their units in one counter, which may inhibit or delay an investor dealing. The market price of units traded in each counter may deviate significantly.
  • Generally, retail investors can only buy or sell units of the Fund on the SEHK. The trading price of the units on the SEHK is driven by market factors such as the demand and supply of the units. Therefore, the units may trade at a substantial premium or discount to the Fund's NAV.

Important Information about ChinaAMC MSCI China A Inclusion Index ETF

  • The Fund aims to provide investment result that, before fees and expenses, closely corresponds to the performance of the MSCI China A Inclusion Index (the "Index"). The Fund invests in the PRC's securities market primarily through Stock Connect.
  • The Fund is subject to concentration risk as a result of tracking the performance of a single geographical region (the PRC) and may likely be more volatile than a broad-based fund.
  • Investing in PRC, an emerging market, involves a greater risk such as greater political, tax, economic, currency, liquidity, regulatory, legal, settlement and custody risks.
  • The Fund is subject to risks associated with the Stock Connect Programme, such as change of laws, rules and regulations, quota limitations and suspension of the Programme.
  • The Fund is subject to risks associated with the RQFII regime, such as change of laws, rules and regulations, insufficient RQFII quota, RQFII approval is revoked or terminated, or any of the key operators or parties is bankrupt or in default or disqualified.
  • If there is a suspension of the inter-counter transfer of units between the HKD and RMB counters and/or any limitation of services of brokers and CCASS participants, unitholders will only be able to trade their units in one counter only. The market price of units traded in each counter may deviate significantly. As such, investors may pay more or receive less when trading in HKD counter than in RMB counter and vice versa.
  • Unitholders will receive distributions in the RMB only. In the event that an unitholder has no RMB account, the unitholder may have to bear the bank or financial institution fees and charges associated with currency conversion.
  • As the stock exchanges in PRC may be open when units in the Fund are not priced, the value of the securities in the Fund's portfolio may change on days when investors will not be able to transact the Fund's Units.
  • Differences in trading hours between the SSE or the SZSE and the SEHK. A-Shares are subject to trading bands while units listed on the SEHK are not. Both factors may increase the level of premium or discount of the unit price to its NAV.
  • The Fund is not "actively managed" and therefore, when there is a decline in the Index, the Fund will also decrease in value. The Manager will not take defensive position in declining markets. Investors may lose a significant part or all of their respective investments if the Index falls.
  • The Index is a new index having only been launched on 23 October 2017. Given that the Index is relatively new, the Fund may be riskier than other ETF tracking more established indices.
  • Generally, retail investors can only buy or sell units of the Fund on the SEHK. The trading price of the units on the SEHK is driven by market factors such as the demand and supply of the units. Therefore, the units may trade at a substantial premium or discount to the Fund's NAV.

Important Information about ChinaAMC Bloomberg Barclays China Treasury + Policy Bank Bond Index ETF

  • The Fund aims to provide investment result that, before fees and expenses, closely corresponds to the performance of the Bloomberg Barclays China Treasury + Policy Bank Index (the “Index”).
  • The Fund is subject to concentration risk as a result of tracking the performance of a single geographical region (the PRC) and investing in bonds of a few issuers. The NAV of the Fund is likely to be more volatile than a broad-based fund.
  • Investments in the PRC may involve increased risks compared to more developed markets, such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks and custody risk.
  • The Fund is subject to risks associated with Bond Connect and Foreign Access Regime, such as change of relevant rules and regulations, regulatory risks, volatility risk, liquidity risk, settlement and counterparty risk. The trading on the PRC interbank bond market or trading through Bond Connect may be suspended.
  • The Fund is subject to risk associated with debt securities, such as credit / counterparty risk, interest rate risk, volatility and liquidity risk, downgrade risk, sovereign debt risk, valuation risk, credit rating risk and credit agency risk.
  • The Fund is subject to risks relating to settlement procedures and default of counterparties on the PRC inter-bank bond market.
  • The Fund is denominated in RMB. RMB is currently not freely convertible and is subject to exchange controls and restrictions. A non-RMB based investors in units are exposed to foreign exchange risk. There is no guarantee that the value of RMB against the investors' base currencies (for example HKD) will not depreciate.
  • The Fund may be subject to tracking error risk. There can be no assurance of exact or identical replication at any time of the performance of the Index.
  • The credit appraisal system in Mainland China and the rating methodologies employed may be different from those in other markets, and the creditworthiness of credit ratings of the security and/or issuer cannot be guaranteed at all times.
  • If there is a suspension of the inter-counter transfer of units between the counters and/or any limitation on the level of services by brokers and CCASS participants, unitholders will only be able to trade their units in one counter only, which may inhibit or delay an investor dealing. The market price of units traded in each counter may deviate significantly.
  • The Fund is passively managed and the Manager will not have the discretion to adapt to market changes. Falls in the Index are expected to result in corresponding falls in the value of the Fund.
  • Generally, retail investors can only buy or sell units of the Fund on the SEHK. The trading price of the units on the SEHK is driven by market factors such as the demand and supply of the units. Therefore, the units may trade at a substantial premium or discount to the Fund's NAV.

Important Information about ChinaAMC CSI 300 Index ETF

  • The Fund aims to provide investment result that, before fees and expenses, closely corresponds to the performance of the CSI 300 Index (the "Index"). The Fund invests in the PRC's securities market through the RQFII investment quota granted to the Manager and the Stock Connect.
  • The Fund is subject to concentration risk as a result of tracking the performance of a single geographical region (the PRC) and may likely be more volatile than a broad-based fund.
  • The Fund is subject to risks relating to the RQFII regime, such as default in execution or settlement of transaction by a PRC broker or the PRC Custodian, change of RQFII policy and rules and uncertainty to their implementation, repatriation restrictions and insufficient RQFII quota to the Fund.
  • The Fund is subject to risks associated with the Stock Connect, such as change of relevant rules and regulations, quota limitations, suspension of the Stock Connect programme. In the event that the Fund’s ability to invest in A-Shares through the Stock Connect on a timely basis is adversely affected, the Manager can only rely on RQFII investments to achieve the Fund’s investment objective.
  • Investing in emerging markets, such as the PRC, involves a greater risk such as greater political, tax, economic, foreign exchange, liquidity and regulatory risks.
  • If there is a suspension of the inter-counter transfer of units between the HKD counter and the RMB counter, the unitholders will only be able to trade their units in the relevant counter on the SEHK. The market price on the SEHK of units traded in HKD and of units traded in RMB may deviate significantly due to different factors, such as market liquidity, supply and demand in each counter and the exchange rate between the RMB and HKD (in both the onshore and the offshore markets). As such investors may pay more or receive less when buying units traded in HKD on the SEHK than in respect of units traded in RMB and vice versa. Investors without RMB accounts may buy and sell HKD traded units only. Such investors should note that distributions are made in RMB only and they may suffer a foreign exchange loss and incur foreign exchange associated fees and charges to receive their dividend. Not all brokers and CCASS participants may be familiar with and able to buy units in one counter and to sell units in the other or to carry out inter-counter transfers of units or to trade both counters at the same time. This may inhibit or delay an investor dealing in both HKD traded units and RMB traded units and may mean the investor can only trade in one currency.
  • As the SSE and the SZSE may be open when units in the Fund are not priced, the value of the securities in Fund’s portfolio may change on days when investors will not be able to purchase or sell the Fund’s units. Differences in trading hours between the SSE and the SZSE, and the SEHK and A-Shares’ trading bands may increase the level of premium/discount of the unit price to its NAV.
  • The Fund is denominated in RMB. RMB is currently not freely convertible and is subject to exchange controls and restrictions. A non-RMB based investors in units are exposed to foreign exchange risk. There is no guarantee that the value of RMB against the investors' base currencies (for example HKD) will not depreciate.
  • The Fund is not "actively managed" and therefore, when there is a decline in the Index, the Fund will also decrease in value. The Manager will not take defensive position in declining markets. Investors may lose a significant part or all of their respective investments if the Index falls.
  • Generally, retail investors can only buy or sell units of the Fund on the SEHK. The trading price of the units on the SEHK is driven by market factors such as the demand and supply of the units. Therefore, the units may trade at a substantial premium or discount to the Fund's NAV.

Important information about ChinaAMC Hang Seng Stock Connect Hong Kong SmallCap Index ETF

  • The Fund aims to provide investment result that, before fees and expenses, closely corresponds to the performance of the Hang Seng Stock Connect Hong Kong SmallCap Index (the “Index”).
  • The underlying index of the Fund was changed to the present Index effective from 3 March 2017. During the rebalancing period from the previous index to the index, there is a risk that the tracking error and tracking difference of the Fund may increase.
  • The Fund is subject to concentration risk as a result of tracking the performance of a single geographical region or country (the PRC including Hong Kong). The Fund may likely be more volatile than a broad-based fund.
  • The Fund invests in small cap securities. The stocks of small capitalisation companies may have lower liquidity and are typically more volatile and more vulnerable to adverse business or economic developments than those of larger capitalisation companies. Lower liquidity increases the risk that securities may be sold at a loss, and may impair the ability of the Fund to accurately track the Index.
  • Small capitalisation companies generally have less diverse product lines than large capitalisation companies and thus are more susceptible to adverse developments concerning their products, as well as the markets and sectors in which they operate. Small capitalisation companies may be less financially secure than larger and more established companies, and they are more vulnerable to loss of key personnel.
  • The Fund is not “actively managed” and therefore, when there is a decline in the Index, the Fund will also decrease in value. The Manager will not take defensive position in declining markets. Investors may lose a significant part or all of their respective investments if the Index falls.
  • Due to fees and expenses of the Fund, liquidity of the market and different investment strategies adopted by the Manager, the Fund’s return may deviate from that of the Index.
  • Generally, retail investors can only buy or sell units of the Fund on the SEHK. The trading price of the units on the SEHK is driven by market factors such as the demand and supply of the units. Therefore, the units may trade at a substantial premium or discount to the Fund’s NAV.

Important Information about ChinaAMC Direxion Hang Seng Index Daily (2x) Leveraged Product / ChinaAMC Direxion Hang Seng Index Daily (-1x) Inverse Product / ChinaAMC Direxion NASDAQ-100 Index Daily (2x) Leveraged Product / ChinaAMC Direxion Nasdaq-100 Index Daily (-1x) Inverse Product / ChinaAMC Direxion Nasdaq-100 Index Daily (-2x) Inverse Product:

  • ChinaAMC Direxion Hang Seng Index Daily (2x) Leveraged Product / ChinaAMC Direxion Hang Seng Index Daily (-1x) Inverse Product (“Hang Seng Index Products”), ChinaAMC Direxion NASDAQ-100 Index Daily (2x) Leveraged Product / ChinaAMC Direxion Nasdaq-100 Index Daily (-1x) Inverse Product/ChinaAMC Direxion Nasdaq-100 Index Daily (-2x) Inverse Product ( “Nasdaq-100 Index Products”), (collectively, “Products”) are futures-based leveraged/inverse products and are not suitable for all investors. The Products only target sophisticated trading-oriented investors who understand the potential consequences of seeking daily leveraged/inverse results and the associated risks and constantly monitor the performance of their holdings on a daily basis.
  • Hang Seng Index Products invest directly in Hang Seng Index futures contracts (“HSI Futures”) which are traded on the Hong Kong Futures Exchange Limited (the “HKFE”). Hang Seng Index Products aim to provide daily investment results, before fees and expenses, which closely correspond to leveraged (2x) / inverse (-1x) of the daily performance of the Hang Seng Index (the “Hang Seng Index”).
  • Nasdaq-100 Index Products invest directly in E-mini NASDAQ 100 Futures (“Nasdaq-100 Futures”) which are traded on the Chicago Mercantile Exchange (the “CME”). Nasdaq-100 Index Products aim to provide daily investment results, before fees and expenses, which closely correspond to leveraged (2x) / inverse (-1x)/inverse (-2x) of the daily performance of the Nadsaq-100 Index (the “Nasdaq-100 Index”).
  • The Product does not seek to achieve its stated investment objective over a period of time greater than one day.
  • The Products are not intended for holding longer than one day as the performance of the Products over a longer period may deviate from and be uncorrelated to the leveraged/inverse performance of the relevant index over the period (e.g. the loss may be more than 2 times the decrease in the Index/-1 time the increase in the Index /-2 times the increase in the Index). The Products are designed to be used for short term trading or hedging purposes, and are not intended for long term investment.
  • Investing in the leveraged product is subject to the general market risk of equity investment, its value will be fluctuated because of multiple factors. Investing in the inverse products is different from taking a short position. Because of rebalancing, the return profile of the inverse products is not the same as that of a short position. Risk investment outcome of the Inverse Product is the opposite of conventional investment funds. If the value of the Index increases for extended periods, the Inverse Product will likely lose most or all of its value.
  • The Products involve futures contracts risk, leveraged/inverse performance risk, risk of rebalancing activities, volatility risk, liquidity risk, intraday investment risk, portfolio turnover risk, concentration risk, US markets risk, Nasdaq-100 constituents risk, passive investment risk, reliance on the investment adviser risk, difference in price limit risk, trading time differences risk, trading risk, reliance on market maker risk, tracking error and correlation risk, termination risk, other currency distributions risk and currency risk.
  • Investment involves risks. Past performance is not indicative of future results, future returns are not guaranteed. Investor may be subject to substantial losses, and a loss of original capital may occur. Investor should not make any investment decision solely based on the information on this presentation alone. Please read the relevant offering documents for details including the risk factors before making any investment decisions. If necessary, you should seek independent professional advice.

Important Information about ChinaAMC Direxion CSI 300 Index Daily (2x) Leveraged Product/ChinaAMC Direxion CSI 300 Index Daily (-1x) Inverse Product (The product is a synthetic product):

  • ChinaAMC Direxion CSI 300 Index Daily (2x) Leveraged Product/ChinaAMC Direxion CSI 300 Index Daily (-1x) Inverse Product (collectively, “Products”) are swaps-based leveraged/inverse products and are not suitable for all investors. The Products only target sophisticated trading-oriented investors who understand the potential consequences of seeking daily leveraged / inverse results and the associated risks and constantly monitor the performance of their holdings on a daily basis.
  • The Products seeks to obtain the required exposure through swaps with different swap counterparties. The Products aim to provide daily investment results, before fees and expenses, which closely correspond to the leveraged (2x) / inverse (-1x) daily performance of the CSI 300 Index (the “Index”).
  • The Products do not seek to achieve their stated investment objectives over a period of time greater than one day.
  • The Products are not intended for holding longer than one day as the performance of the Products over a longer period may deviate from and be uncorrelated to the leveraged/inverse performance of the Index over the period (e.g. the loss may be more than 2 times the decrease in the Index/-1 time the increase in the Index). The Products are designed to be used for short term trading or hedging purposes, and are not intended for long term investment.
  • Investing in the leveraged product is subject to the general market risk of equity investment, its value will be fluctuated because of multiple factors, and both gains and losses will be magnified. Investing in the inverse products is different from taking a short position. Because of daily rebalancing, the return profile of the inverse products is not the same as that of a short position. Risk investment outcomes of the inverse products are the opposite of conventional investment funds. If the value of the Index increases for extended periods, the inverse products will likely lose most or all of their values.
  • The Products also involve synthetic replication and counterparty risk, settlement risk, default risk, market risk, price movements risk, intraday counterparty risk, risk of increase in swap fees and early termination of swaps, derivative instrument investment risk, leveraged/inverse performance risk, risk of rebalancing activities, liquidity risk, intraday investment risk, currency risk, concentration risk, PRC market risk, risk of investment in debt securities and other funds, PRC tax risk, passive investment risk, trading risk, reliance on market maker risk, tracking error and correlation risk, volatility risk and termination risk.
  • Swap counterparties of the Products may have daily capacity limits, when the limits are reached, the Products’ ability to adjust the size of swaps for sufficient exposure to achieve their investment objectives may be adversely affected.
  • Investment involves risks. Past performance is not indicative of future results, future returns are not guaranteed. Investors may be subject to substantial losses, and a loss of original capital may occur. Investors should not make any investment decision solely based on the information on this presentation alone. Please read the relevant offering documents for details including the risk factors (for example, the Products may be terminated in advance under certain circumstances) before making any investment decisions. If necessary, you should seek independent professional advice.
ChinaAMC Hang Seng TECH Index ETF
3088
HKD Counter
9088
USD Counter
0.40%
Management Fee
0.60%
Total Expense Ratio#
 

#As the product is newly set up, this figure is a best estimated only and represents the sum of the estimated ongoing charges expressed as a percentage of the estimated average NAV. It may be different upon actual operation of the product and may vary from year to year. The estimated ongoing charges do not represent the estimated tracking error. Please refer to the fund's offering documents for details of the fees.

Hang Seng TECH Index outperformed the
Hang Seng Index by 70%* in 2020

Global technology giants grabbed headlines after Nasdaq index hitting record high again, Hong Kong local technology stocks have delivered exceptional performance in recent years. According to Bloomberg, the Hang Seng TECH Index outperformed the Hang Seng Index by 23% in 2019, and even by as much as 70%* year-to-date*.

Old economy stocks, such as industrials, real estate, energy and banking companies, are vulnerable to cyclical economy and interest rate environment, and their prospects may not be as promising as before. On the other hand, new economy stocks covering various sectors from healthcare and renewable energy to information technology, finance and consumption boast solid fundamentals with tremendous growth potential, which together with the emphasis on R&D and the building of economic moats, have persuaded investors to favour the new economy shares to old economy sector.

*Source: Bloomberg, Hang Seng Indexes Company Limited, as of 31 Aug 2020. Performance is calculated in HKD and on total return basis, with dividend re-invested. “Hang Seng TECH Index outperformed the Hang Seng Index by 23% in 2019” is calculated based on data of the indexes from 31 Dec 2018 to 31 Dec 2019; “even by as much as 70% year-to-date” is calculated based on data of the indexes from 31 Dec 2019 to 31 Aug 2020. Data of Hang Seng TECH Index from 31 Dec 2018 to 31 Aug 2020 is published by Hang Seng Indexes Company Limited to Bloomberg. Figures used are for illustrative purposes only and are not indicative of any future actual return.

Is it different from the Hang Seng Index?
The biggest difference from the Hang Seng Index is that the Hang Seng TECH Index only covers new economy stocks. Although the TECH Index is also divided into six segments, i.e. healthcare, consumer discretionary, industrials, finance, information technology and others, the top 30 Hong Kong-listed technology companies incorporated in the index upon screening should have high business exposure to technology themes. Among the six segments, the information technology sector occupies the highest share, accounting for over 68%. On the contrary, the Hang Seng Index is still dominated by the traditional financial companies, followed by real estate and industrials.
Is it different from the Hang Seng Index

Source: Hang Seng Index, Bloomberg as of September 04 2020

Is it different from the Hang Seng Index?

The top ten constituent stocks of the Hang Seng TECH Index account for more than 65% of the weight of the index. Despite some small overlapping with the Hang Seng Index in terms of constituent stocks and with the inclusion of other active and large technology stocks such as Meituan Dianping, JD.com and SMIC in the TECH index, it is believed that under the prevailing trend of technology development, the TECH Index will enjoy greater room for growth and is even on course to become one of the important flagship indexes for the technology sector. 

 
ATMX Accounting for more than 30%

Top 10 Holdings of
Hang Seng TECH Index

Hang Seng TECH Index

Hang Seng ndex

SUNNY OPTICAL
(Ticker: 2382)

8.02

0.94%

MEITUAN – W
(Ticker: 3690)

7.99

 

BABA – SW
(Ticker: 9988)

7.83

4.95%

TENCENT
(Ticker: 700)

7.76

9.83%

XIAOMI – W
(Ticker: 1810)

7.73

4.26%

SMIC
(Ticker: 981)

7.64

 

ALI HEALTH
(Ticker: 241)

7.20

 

JD – SW
(Ticker: 9618)

5.52

 

KINGDEE INT'L
(Ticker: 268)

3.99

 

LENOVO GROUP
(Ticker: 992)

3.58

 

Source: Hang Seng Index Company, Bloomberg as of September 04 2020

Three major features of the Hang Seng TECH Index
FeatureFeature1Gaining Full Access To A Good Portfolio Of Technology Giants
Feature1

The Hang Seng TECH Index is a thematic index with diversified coverage in technology companies rather than merely a single individual constituent stock. Alibaba, Tencent, Meituan Dianping and Xiaomi Group, have a combined weight of more than 30%. Besides, the index also includes a comprehensive suite of other technology giants for investors to fully capture the potential return from the leading new economy and technology stocks.

 
Feature1
FeatureFeature2Covering Leading Technology Themes
Feature2

Unlike traditional technology companies, the TECH Index covers companies from wider-ranging sectors such as internet (including mobile), fintech, cloud, e-commerce, or digital activities, enabling investors to easily seize investment appreciation opportunities by riding on trend of technology development. Moreover, the 30 constituent stocks in the Hang Seng TECH Index combined represent approximately 39% of the total market capitalisation and 31% of the turnover of the Hong Kong Stock Exchange, reflecting investors' strong demand for new economy stocks.

 
Feature2

Source: Bloomberg, as of August 31 2020

FeatureFeature3Capturing opportunities arising from the return of Chinese concept stocks
Feature3

Over recent years, many well-known technology giants such as Alibaba, Meituan Dianping, Netease, and JD.com have returned to Hong Kong for listing. The market is expecting the return of more foreign-listed Chinese concept stocks or "unicorns”for simultaneous A and H share listing.

The Hang Seng TECH Index has a fast entry mechanism to allow sizable newly listed technology companies to be included in the index in a more timely manner without the need to wait until the regular quarterly review. Netease and JD.com have joined the index through this mechanism. Under the mechanism, the TECH Index will be able to quickly capture potential investment appreciation opportunities brought about by the return and listing of Chinese concept stocks.

 
Feature3

Investing involves risk, including possible loss of principal. Investment in emerging market countries may involve heightened risks such as increased volatility and lower trading volume, and may be subject to a greater risk of loss than investment in a developed country. Please carefully consider the Fund's investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the relevant Fund's prospectus. Please read the prospectus carefully before investing. ChinaAMC Funds are not sponsored, endorsed, issued, sold or promoted by their index providers (only applicable to ETFs and index funds). For details of an index provider including any disclaimer, please refer to the relevant ChinaAMC Fund offering documents.

Source: Fund performance and index data are provided by ChinaAMC and the relevant index providers (if applicable) respectively. This website is prepared by China Asset Management (Hong Kong) Limited and has not been reviewed by the Securities and Futures Commission.

NASDAQ 100 Index Disclaimer
The Product(s) is not sponsored, endorsed, sold or promoted by NASDAQ, Inc. or its affiliates (NASDAQ, Inc. with its affiliates, is referred to as “NASDAQ”). NASDAQ has not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Product. NASDAQ makes no representation or warranty, express or implied, to the owners of shares of the Product or any member of the public regarding the advisability of investing in securities generally or in the Product particularly or the ability of the Index to track general stock market performance. NASDAQ’s only relationship to the Product and China Asset Management (Hong Kong) Limited (“ChinaAMC”) is in the licensing of certain trademarks and trade names of NASDAQ and of the Index which is determined, composed and calculated by NASDAQ without regard to ChinaAMC or the Product. NASDAQ QMX has no obligation to take the needs of ChinaAMC or its affiliates or the owners of shares of the Product into consideration in determining, composing or calculating the Index. NASDAQ is not responsible for and has not participated in the determination of the prices and amount of shares of the Product, or the timing of the issuance or sale of such shares or in the determination or calculation of the equation by which shares of the Product are to be converted into cash. NASDAQ has no obligation or liability in connection with the administration, marketing or trading of the Product.

NASDAQ does not guarantee the accuracy and/or uninterrupted calculation of the index or any data included therein. Nasdaq makes no warranty, express or implied, as to results to be obtained by the trust on behalf of the product as licensee, licensee’s customers and counterparties, owners of the shares of the product, or any other person or entity from the use of the subject index or any data included therein in connection with the rights licensed as described herein or for any other use. NASDAQ makes no express or implied warranties and hereby expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, in no event shall NASDAQ have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

CSI Index Disclaimer
All rights in the CSI 300 Index (“Index”) vest in China Securities Index Company (“CSI”). “CSI 300®” is a trade mark of CSI. CSI does not make any warranties, express or implied, regarding the accuracy or completeness of any data related to the Index. CSI is not liable to any person for any error of the Index (whether due to negligence or otherwise), nor shall it be under any obligation to advise any person of any error therein. The Fund based on the Index is in no way sponsored, endorsed, sold or promoted by CSI and CSI shall not have any liability with respect thereto.

Bloomberg Barclays China Treasury + Policy Bank Bond Index Disclaimer
BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). BARCLAYS® is a trademark and service mark of Barclays Bank Plc (collectively with its affiliates, “Barclays”), used under license. Bloomberg or Bloomberg’s licensors, including Barclays, own all proprietary rights in the Bloomberg Barclays Indices. Neither Bloomberg nor Barclays is affiliated with China Asset Management (Hong Kong) Limited, and neither approves, endorses, reviews or recommends ChinaAMC Bloomberg Barclays China Treasury + Policy Bank Bond Index ETF. Neither Bloomberg nor Barclays guarantees the timeliness, accurateness or completeness of any data or information relating to Bloomberg Barclays China Treasury + Policy Bank Index, and neither shall be liable in any way to the China Asset Management(Hong Kong) Limited, investors in ChinaAMC Bloomberg Barclays China Treasury + Policy Bank Bond Index ETF or other third parties in respect of the use or accuracy of the Bloomberg Barclays China Treasury + Policy Bank Index or any data included therein.

MSCI Index Disclaimer
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Prospectus contains a more detailed description of the limited relationship MSCI has with China Asset Management (Hong Kong) Limited and any related funds.

Hang Seng Index Disclaimer
The mark and name Hang Seng Index, Hang Seng Stock Connect Hong Kong SmallCap Index and Hang Seng TECH Index are proprietary to Hang Seng Data Services Limited (“HSDS”) which has licensed its compilation and publication to Hang Seng Indexes Company Limited (“HSIL”). HSIL and HSDS have agreed to the use of, and reference to, the Hang Seng Index, Hang Seng Stock Connect Hong Kong SmallCap Index and Hang Seng TECH Index by China Asset Management (Hong Kong) Limited (“the Issuer”) in connection with the ChinaAMC Direxion Hang Seng Index Daily (2x) Leveraged Product, ChinaAMC Direxion Hang Seng Index Daily (-1x) Inverse Product,ChinaAMC Hang Seng Stock Connect Hong Kong SmallCap Index ETF and ChinaAMC Hang Seng TECH Index ETF (the "Product"). However, neither HSIL nor HSDS warrants, represents or guarantees to any person the accuracy or completeness of the Hang Seng Index, Hang Seng Stock Connect Hong Kong SmallCap Index and Hang Seng TECH Index, its computation or any information related thereto and no warranty, representation or guarantee of any kind whatsoever relating to the Hang Seng Index, Hang Seng Stock Connect Hong Kong SmallCap Index and Hang Seng TECH Index are given or may be implied. Neither HSIL nor HSDS accepts any responsibility or liability for any economic or other loss which may be directly or indirectly sustained by any person as a result of or in connection with the use of and/or reference to the Hang Seng Index, Hang Seng Stock Connect Hong Kong SmallCap Index and Hang Seng TECH Index by the Issuer in connection with the Product, or any inaccuracies, omissions or errors of HSIL in computing the Hang Seng Index, Hang Seng Stock Connect Hong Kong SmallCap Index and Hang Seng TECH Index Any person dealing with the Product shall place no reliance whatsoever on HSIL and/or HSDS nor bring any claims or legal proceedings against HSIL and/or HSDS in any manner whatsoever. For the avoidance of doubt, this disclaimer does not create any contractual or quasi-contractual relationship between any broker or other person dealing with the Product and HSIL and/or HSDS and must not be construed to have created such relationship.