READ THESE TERMS AND CONDITIONS ("Terms") CAREFULLY BEFORE REGISTERING OR USING THE SERVICES DESCRIBED ON THE WEBSITE LOCATED AT www.chinaamc.com.hk. By clicking the "Accept" button, you consent to be bound by all the terms set out herein. If you do not agree with any of these terms, you are not an authorized user for these services and you should not use this website. Please click "Do not Accept" button and leave this website.
Terms and Conditions
China Asset Management (Hong Kong) Limited ("ChinaAMC HK") is a regulated institution in Hong Kong by the Securities and Futures Commission (“SFC”) pursuant to the Securities and Futures Ordinance (Cap 571). This website is prepared and owned by ChinaAMC HK and contains information about ChinaAMC HK and the services and products offered by ChinaAMC HK. This website has not been reviewed by the SFC.
This information contained in this website is provided for informational purposes only. Funds information is intended to be made available only to residents in Hong Kong that are not U.S. Persons. If you are an individual investor, you acknowledge that you are a resident of Hong Kong. Funds information is not intended for use by any person located in or residing in any jurisdiction that restrict the use or distribution of such information. Nothing on this website should constitute a distribution, an offer to buy or the solicitation of any offer to buy or sell any securities in any jurisdiction where such a distribution or offer would be illegal. Non-Hong Kong investors are responsible for observing all applicable laws and regulations of their relevant jurisdictions before proceeding to access the information contained herein. By proceeding, you are representing that you have understood and accepted the restrictions set out in this section.
None of the information contained in this website constitute an invitation or solicitation to invest in any shares or units of the Funds, nor does it constitute any investment advice or recommendation to acquire or dispose of any investment or to engage in any transactions. Before acting on any information in this website, you should consider whether any investment, security or strategy is suitable for your particular circumstance and, if necessary, seek independent professional advice.
Investment involves risks. The price of units or shares of the Funds may go up as well as down. Past performance is not indicative of future results. The value of the Funds can be extremely volatile and could go down substantially within a short period of time. It is possible that the entire value of your investment could be lost. An investment in a Fund often involves investing in international markets. In addition to the normal risks associated with investing, international investments involve the risk of losing all or part of any capital from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. An investment in emerging markets also involves heightened other risks such as increased volatility and the possibility of lower trading volume. Funds may use or invest in financial derivatives. Please read the Funds’ Prospectuses and Product Key Fact Statements for details, including the risk factors, before making any investment decision.
Where a Fund's investment objective is to track an index, the Fund is not sponsored, endorsed, issued, sold or promoted by the relevant index provider. None of these companies make any representation regarding the advisability of investing in the Funds. Index returns are for illustrative purposes only and do not represent actual fund performance. Index performance returns do not reflect any management fees, transaction costs or expenses. Indices are unmanaged and one cannot invest directly in an index.
Except as otherwise stated in these Terms or as expressly authorized by ChinaAMC HK in writing, you may not:
• Use this website in any manner that could damage or overburden any ChinaAMC server, or any network connected to any ChinaAMC server, as all servers have limited capacity and are used by many people;
• Use this website in any manner that would interfere with another party's use of the Website;
• Include the term "ChinaAMC" or any ChinaAMC trademark or executive's name, or any variation of the foregoing, as a meta-tag, hidden textual element;
• Use any robot, spider, intelligent agent, other automatic device, or manual process to search, monitor or copy this website or the reports, data, information, content, software, products services, or other materials on, generated by or obtained from this website, whether through links or otherwise (collectively, "Materials"), without ChinaAMC HK's permission, provided that generally available third-party web browsers may be used without such permission; or
• Use this website or the Materials in any manner that could create impression of affiliation, sponsorship or endorsement by ChinaAMC.
Limitation of Liability
All information contained in this website is published to the best of the knowledge and belief of ChinaAMC HK to be accurate at the time it was posted. However, no representation or warranty, expressed or implied is made by ChinaAMC HK as to its accuracy or completeness of the information or data provided in this website. ChinaAMC HK, its affiliates, directors, officers or employees accept no liability for any errors or omissions relating to information available in this website, and will not be liable for any damages or costs (including but not limited to lost profits, trading losses or damages that result from use or loss of use of this website) arising out of or in any way connected with (i) the use of the information provided in this website and (ii) any interruption or failure in system operation, delay in data transmission, computer virus or line or system failure.
Trademarks, Copyrights and other Intellectual Property
All copyright, trademarks and similar rights in this website and the information contained herein are owned by or licensed to ChinaAMC HK or its affiliate. Information in or any parts of this website cannot be reproduced, distributed or published.
Jurisdiction and Governing Law
These Terms shall be governed by, and shall be construed in accordance with, the laws of Hong Kong. The courts of Hong Kong shall have non-exclusive jurisdiction to hear and determine any suit, action or proceeding, and to settle any disputes, which may arise out of or in connection with these Terms and, for such purposes, you agree to submit to the jurisdiction of the courts of Hong Kong. Each party hereby waives any objection which it might at any time have to the courts of Hong Kong being nominated as the forum to hear and determine any proceedings and to settle any disputes and agrees not to claim that the courts of Hong Kong are not a convenient or appropriate forum.
We understand that our customers and website visitors are concerned about the privacy of information. The following information is designed to help you understand the information collection practices at this Website.
ChinaAMC HK recognizes the importance of personal data to our business and the importance of respecting the privacy rights of our clients. Therefore, we are committed to ensuring compliance with the requirements of the Personal Data (Privacy) Ordinance (the "Ordinance"). Each employee of ChinaAMC HK must abide by our commitment to privacy in the handling of personal information. To further enhance confidentiality and security of all personal data, only authorized staff will be allowed to have access to the personal information collected. It is restricted to those persons who have a business need to access personal information in order to perform their job duties.
The purpose of this Statement is to establish the policies and practices of ChinaAMC HK's commitment to protect the privacy of personal data and to inform you about our responsibilities and your rights under the Ordinance.
Types of Personal Data Held
Personal data held by us regarding clients may include the following:-
• Name and address, occupation, contact details, date of birth, their identity card or passport numbers;
• Current employer, nature of position, relevant income of clients;
• Details of financial status of clients; and
• Information obtained by us in the ordinary course of the business relationship such as, investment options, account values and balances etc.
Main Purposes of keeping Personal Data
The purposes for which personal data relating to clients may be used are as follows:-
• Facilitate the daily operations of the services provided to the clients;
• Marketing investment products or services provided by ChinaAMC (HK);
• Maintaining statistical data and providing a database for product and market research;
• Marketing financial and/or investment products or services by any company/companies other than ChinaAMC HK, subject to client's express prior written consent;
• Compliance with applicable laws and regulations; and
• Any other purposes relating or incidental thereto.
Transfer of Personal Data
Personal data held by ChinaAMC HK relating to clients will be kept confidential but may be transferred to the following parties (whether within or outside the Hong Kong Special Administrative Region) for any of the purposes stated above:-
• Any agent, contractor, third party service provider or any member company of ChinaAMC HK which provides administrative, telecommunications, computer, marketing, professional or other services to ChinaAMC HK in connection with its business operations;
• Any person to whom ChinaAMC HK is under an obligation to make disclosure under the requirements of any law binding on ChinaAMC HK or any of its member companies or under and for the purposes of any guidelines issued by regulatory or other authorities with which ChinaAMC HK or its member companies are expected to comply;
• Any actual or proposed assignee of ChinaAMC HK or participant or sub-participant or transferee of ChinaAMC HK's rights in respect of the client; and
• Any persons or bodies corporate under a duty of confidentiality to ChinaAMC HK.
Accuracy of Personal Data
ChinaAMC HK strive at all times to ensure accuracy of all personal data collected and processed by us. In order to assist us to deliver on this pledge, please inform us immediately in the event that your personal information has been changed or you discovered that your personal information held by us is incorrect.
It is not a statutory requirement for you to provide personal data to us. However, we will not be able to provide you with the services and products you may require unless you provide us with the necessary personal data or information.
You have a right (i) to be informed whether we hold any of your personal data; (ii) to be supplied with a copy of your personal data we hold; and (iii) to request correction of your personal data we hold. If you wish to access to and/or to correct any of your personal data held by us, please send your written request to the address set out below. We may, subject to the Ordinance, impose a reasonable fee for complying with a data access request.
If you do not wish your personal data to be used for direct marketing purposes, you may notify us in writing to the following address:-
Head of Legal & Compliance
China Asset Management (Hong Kong) Limited
37/F, Bank of China Tower,
1 Garden Road, Central
ChinaAMC CSI 300 Index Daily (-1x) Inverse Product (the “Product”) is to provide daily investment results, before fees and expenses, which closely correspond to the inverse (-1x) of the Daily performance of the CSI 300 Index (the “Index”). It is more volatile than conventional exchange traded funds. The Product is not intended for holding longer than one day as the performance of the Product over a longer period may deviate from and be uncorrelated to the inverse performance of the Index over the period. The Product is designed to be used for short term trading or hedging purposes, and is not intended for long term investment. This Product is a derivative product which only targets sophisticated trading-oriented investors who understand the potential consequences of seeking daily inverse results and the associated risks and constantly monitor the performance of their holdings on a daily basis.
Investment involves risks, including the loss of principle. Past performance is not indicative of future results. The value of the Product can be extremely volatile and could go down substantially within a short period of time. It is possible that the entire value of your investment could be lost. Before investing in the Product, investor should refer to the Product’s prospectus and Product Key Facts Statement for details, including the risk factors. You should not make investment decision based on the information on this material alone. Please note:
• The Product is a derivative product and is not suitable for all investors. There is no guarantee of the repayment of principal. Your investment may suffer substantial or total losses.
• The Product is not intended for holding longer than one day as the performance of the Product over a period longer than one day will very likely differ in amount and possibly direction from the inverse performance of the Index over that same period. The effect of compounding becomes more pronounced on the Product’s performance as the Index experiences volatility. It is even possible that the Product will lose money over time while the Index’s performance falls or is flat.
• The Product seeks to obtain the required exposure through swaps with different swap counterparties. The Product is exposed to counterparty risk, settlement risk and default risk of the swap counterparties, market risk, price movements, risks of increased swap fees and early termination of the swaps.
• Derivative instruments are subject to valuation risk and liquidity risk and are susceptible to price fluctuations and higher volatility. The Product may suffer losses potentially equal to the full value of the derivatives.
• Swap counterparties may have daily capacity limits, when the limits are reached, the Product’s ability to adjust the size of swaps for sufficient exposure to achieve its investment objective may be adversely affected.
• The Product tracks the inverse (-1x) Daily performance of the Index. Should the value of the underlying securities of the Index increase, it could have a negative effect on the performance of the Product.
• Investing in the Product is different from taking a short position. Because of rebalancing, the return profile of the Product is not the same as that of a short position.
• Risk investment outcome of the Product is the opposite of conventional investment funds. If the value of the Index increases for extended periods, the Product will likely lose most or all of its value.
• There is no assurance that the Product can rebalance its portfolio on a Daily basis to achieve its investment objective. Market disruption, regulatory restrictions or extreme market volatility may adversely affect the Product’s ability to rebalance its portfolio.
• The rebalancing activities of the Product typically take place at or around the end of a trading day. The Product may be more exposed to the market conditions during a shorter interval and may be more subject to liquidity risk.
• Returns for investment for a period of less than a full trading day will generally be greater than or less than the inverse (-1x) investment exposure to the Index. If there is a significant intraday market event and/or significant decrease of Index securities, swap fees may be increased and the Product’s performance may be adversely affected.
• Underlying investments of the Product may be denominated in currencies other than the base currency of the Product. The NAV of the Product may be affected unfavourably by fluctuations in the exchange rates and by changes in exchange rate controls.
• The Product’s investments are concentrated in a specific geographical location (i.e. the PRC). The value of the Product may be more volatile than that of a fund having a more diverse portfolio of investments.
• As of result of concentration on an emerging market, investments of the Product may involve increased risks and special considerations not typically associated with an investment in more developed markets, such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk, likelihood of a high degree of volatility and regulatory policies and controls.
• Investment in debt instruments involves interest rate risk, issuer credit risk, sovereign debt risk, credit rating risk and credit/downgrading risk.
• Investment in other funds involves additional costs. There can also be no assurance that an underlying fund’s investment strategy will be successful or that its investment objective will be achieved.
• There are risks and uncertainties associated with the current PRC tax laws, regulations and practice (which may have retrospective effect). There is a risk that taxes may be levied in future and charged to swap counterparties, which may in turn be charged to the Product and potentially cause substantial loss to the Product.
• The Product is passively managed and the Manager will not have the discretion to adapt to market change due to the inherent investment nature of the Product. Increases in the Index are expected to result in falls in the value of the Product.
• 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 NAV.
• The Product may be subject to tracking error risk, which may result from the investment strategy used, costs related to the use of Swaps, liquidity of the market and fees and expenses, and the correlation between the performance of the Product and the inverse (-1x) Daily performance of the Index may be reduced. There can be no assurance of exact or identical replication of the inverse performance of the Index at any time.
1 Data are provided by ICE Data Indices, LLC (“ICE DATA”), is used with permission. ICE DATA, its Affiliates and their respective third party suppliers (including but not limited to Factset Research System, Inc.) disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the index data and any data included in, related to, or derived therefrom. Neither ICE DATA, its Affiliates nor their respective third party suppliers shall be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the Index data or any component thereof, and the index data and all components therefore are provided on an “as is” basis and your use is at your own risk. ICE DATA, its Affiliates and their respective third party suppliers do not sponsor, endorse, or recommend China Asset Management (Hong Kong) Limited, or any of its products or services.
2 IOPV calculations are performed by ICE DATA.
3 Intra-day Market Price refers to the market price of ChinaAMC CSI 300 Index Daily (-1x) Inverse Product on the date and at the time specified above, quoted from the Stock Exchange of Hong Kong Limited (the “SEHK”).
4 Change of the Closing NAV per Unit indicates the change of the Closing NAV per Unit since previous Dealing Day. Please refer to the Prospectus for more information on the determination of NAV and the definition of Dealing Day.
5 Changes of the Closing price indicates the change of the closing price since previous SEHK trading day. Source of Closing Price: Bloomberg.
6 Benchmark Index returns are for illustrative purposes only and are not indicative of future results. Benchmark Index returns do not reflect any management fees, transaction costs or expenses. Change indicates the change since the last closing index level. Source: HSI, Bloomberg.
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.
*ChinaAMC CSI 300 Index Daily (-1x) Inverse Product is a synthetic product.