Pictet - Asian Local Currency Debt
As part of Pictet Asset Management's global offering, the fund Pictet - Asian Local Currency Debt P dy USD (LU0255797630) is available for distribution in Hong Kong SAR for Private Investors.
Important notice
Recently it has come to the attention of Pictet Asset Management ("Pictet AM") that our trade names “瑞士百達”、“Pictet” 、“瑞士百達資管” 、logo and/or certain of our staff’s names have been misused by unauthorised persons in Hong Kong for illegal fund-raising, such as providing retail investors with stock trading training and account opening and stock trading services in the name of “Pictet” or "Pictet Asset Management" via mobile apps, webpages and chat groups. We reserve all our legal rights to take legal action against such unauthorised usage of our name and/or logo which may lead to our reputational loss.
Pictet would like to alert the public and hereby declares the following:
1. Pictet's official websites for products and services offered in Hong Kong are www.pictet.com (Pictet Group) and www.am.pictet (Pictet Asset Management).
2. Pictet AM only sell products through licensed financial institutions to individual investors in Hong Kong and have no direct sales channels.
We would like to remind all investors to be vigilant and conduct sufficient due diligence before making any investment. If you have suffered any loss due to illegal activities, it is advisable to timely report the case to local police. If any disclosure of personal information is involved in Hong Kong, you may file the complaint with the Office of the Privacy Commissioner for Personal Data or any other relevant Hong Kong authorities for protection of personal data privacy.
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Pictet HK
IMPORTANT NOTE
Pictet HK as an umbrella fund under Hong Kong unit trust structure consists of different compartments investing in equities and/or debt securities each with different risk profile.
Compartments which invest in equity securities is subject to general market risks. The value may fluctuate due to various factors, such as changes in investment sentiment, political and economic conditions and issuer-specific factors.
Compartments which invest in debt instruments are exposed to interest rate risk, liquidity risk, downgrading risk and credit risk of the issuer. In addition, some compartments may invest in below investment grade debt securities and unrated securities which may have higher volatility and risks of default and may be subject to greater risk of loss of principal and interest.
Some compartments may invest in fixed income instruments with loss absorption features which are subject to the risk of being written down or converted to ordinary shares upon the occurrence of pre-defined trigger event. Such trigger events are complex and difficult to predict and may result in a significant or total reduction in the value of such instruments.
Some compartments may have significant exposure to emerging markets which are generally considered to present higher currency risks, political and economic risks, legal and taxation risks, liquidity risk, repatriation risk, volatility risk, settlement risks, custody risk. Such investments may be more volatile and/or less liquid.
Some compartments’ investments can be concentrated in certain market. The value of such compartments may be more volatile than that of a compartment having a more diverse portfolio of investments.
The Fund may invest in the securities of small and/or mid-capped companies which are generally considered to present higher liquidity risk and greater volatility compared to larger capitalisation companies.
The Fund may invest in investment trusts including REITs which may involve higher liquidity and valuation risks and greater volatility.
The downside risk management process aims at managing losses of some compartments through the active allocation between higher risk assets and lower risk assets or through the use of financial derivative instruments (FDIs) to hedge market and/or currency risks, but it may not achieve the desired results under all circumstances and market conditions. It may also preclude the compartments from capturing significant upside in rising markets.
Some compartments may use FDIs for hedging and investment purposes. Such investments may involve higher degree of counterparty/credit and liquidity risks and may result in higher degree of volatility and substantial loss.
Some compartments may invest in China A shares which may subject the compartments to higher political, tax, foreign exchange, regulatory, valuation and liquidity risks.
The units of some compartments aim to pay dividend on monthly. Dividend is not guaranteed. Dividends payable (if any) from the units may be paid out of the capital. Investors should note that the payment of dividends out of capital represents a return or withdrawal of part of the amount they originally invested and/or any capital gains attributable to the original investment. Besides, investors should be aware that distributions, including distributions involving the payment of dividends out of the compartment’s capital, may result in an immediate reduction in the NAV per distribution share. The composition of dividends for the last 12 months will be provided on the website pictet.com/assetmanagement (the website has not been reviewed by the SFC ) or can be obtained from the Hong Kong Representative on request.
Investors should not only base on this marketing material alone to make investment decisions.
Pictet
IMPORTANT NOTE
Pictet as an umbrella under the UCITS regulations consists of different compartments investing in equities or debt securities, each with different risk profile.
Some compartments may use financial derivative instruments extensively for investment purposes. Such investments may involve higher degree of credit/counterparty, market and liquidity risks and may result in higher degree of volatility and substantial loss.
Compartments which invest in a single market, a single sector or a limited number of issuers and/or geographic zones should be regarded as having higher concentration risk than compartments following a more diversified policy.
Compartments which have investments concentrated in Europe may be more susceptible to fluctuations in value resulting from adverse conditions in the European region.
Compartments which invest in emerging countries present greater political and economic risks, legal and regulatory risks, fiscal and tax risks and capital repatriation restrictions risk.
Some compartments may invest in the securities of small and/or mid-capped companies which are generally considered to present higher liquidity risk and greater volatility compared to larger capitalisation companies.
Some compartments may invest in investment trusts including REITs which may involve higher liquidity and valuation risks and greater volatility.
Compartments which hold a significant portion of illiquid assets may be exposed to risk arising from the difficulty of selling an asset at a favourable price.
Some Compartments may have high leveraged exposure and thus, may result in significant loss or total loss.
Environmental, social and governance related risk events or conditions could cause a material impact on the value of the investment of some compartments if they were to occur.
Some Compartments may invest in China A shares or RMB denominated bonds which may subject the Compartment to various risks of investing in Chinese market e.g. political, tax, foreign exchange, credit rating agency, regulatory, CIBM related, QFII and RQFII related and liquidity risks.
Compartments which mainly invest in bonds and other debt instruments are exposed to liquidity risk, interest rate risk, and credit risk of the issuer. They may also be impacted by a downgraded credit rating which may decrease the value and liquidity of the security and adversely affect the compartment's NAV.
Compartments which invest in below investment grade debt securities (including distress and defaulted securities) and unrated securities of similar credit quality may be subject to higher risks of default and greater levels of interest rate risk, credit risk, price volatility and liquidity risk.
Distribution shares aim to pay dividend on regular basis. Dividend is not guaranteed. Dividends payable (if any) from dy and/or dm distribution shares may be paid out of the capital. Investors should note that the payment of dividends out of capital represents a return or withdrawal of part of the amount they originally invested and/or any capital gains attributable to the original investment. Besides, investors should be aware that distributions, including distributions involving the payment of dividends out of the compartment’s capital, may result in an immediate reduction in the NAV per distribution share. The composition of dividends for the last 12 months will be provided on the website pictet.com/assetmanagement (the website has not been reviewed by the SFC ) or can be obtained from the Hong Kong Representative on request.
Investors should not only base on this marketing material alone to make investment decisions.
Disclaimer
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Investment performance
Investment involves risks. The value of an investment and the income received from it can go down as well as up and, on sale, investors may not get back the full amount invested and should be prepared to sustain a total loss of their investment. No assurance can be given that the investment objective of any investment products will be achieved. No representation or promise as to the performance of any investment products or the return on an investment is made. Past performance is not a guide to future performance. Changes in the rates of exchange may have an adverse effect on the value of an investment. The investment returns may be denominated in a foreign currency. Consequently, US dollar / HK dollar-based investors may be exposed to fluctuations in the exchange rate of the relevant foreign currency against US dollar / HK dollar. Please read the offering documents for further details, in particular, the risk factors therein. This website has not been reviewed by the Securities and Futures Commission (SFC). You are advised to exercise caution and if you are in any doubt about any of the contents of this document, you should obtain independent professional advice.
NAVs relating to dates on which shares are not issued or redeemed (“non-trading NAVs”) may be published here. They can only be used for statistical performance measurements and calculations or commission calculations and cannot under any circumstances be used as a basis for subscription or redemption orders.
Finally, the performance shown does not take account of any commissions or costs charged when subscribing to or redeeming units.
Exclusion of warranty
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Pictet Asset Management (Hong Kong) Limited and its data suppliers make every effort to ensure that the information on this website is accurate and complete at the time of its inclusion. However, although this information is obtained from data suppliers and sources that are in good faith believed to be reliable, Pictet Asset Management (Hong Kong) Limited does not guarantee, explicitly or implicitly, that such information is accurate, up-to-date or exhaustive. Furthermore, any view or opinion expressed on this website is subject to alteration without notice. There is no guarantee that the information on this website has not been altered as a result of technical malfunctions (disconnection, interference by third parties, computer viruses, etc.).
The Market Data Specific Terms and Conditions shall apply to any individual or legal entity that receives from Pictet Asset Management market data such as, but not limited to, prices, ratings, indexes, regulatory data, research data and other information regarding financial instruments or other investments. Any index data referenced herein remains the property of the Data Vendor. The Market Data Specific Terms and Conditions and Data Vendor Disclaimers are available on pictet.com/assetmanagement in the “Legal documents and resources” section of the footer.
The latest versions of the offering documents, annual reports and semi-annual reports of the investment funds are the only versions deemed to be official fund publications on which investment decisions may be based.
Limitation of liability
Pictet Asset Management (Hong Kong) Limited and its data suppliers accept no liability for any loss or damage of any nature whatsoever, whether direct, indirect or consecutive, arising from accessing, using, consulting or navigating its website, or from links to other websites.
Local legal restrictions
None of the investment funds mentioned nor any of the related prospectuses shall be distributed to persons resident in any State in which the distribution of such funds or prospectuses is contrary to local laws and/or regulations. Such persons are forbidden to access this website.
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The latest versions of the offering documents, annual report and semi-annual report translated into the language of your country of residence conform with any requirements laid down in the laws or regulations of that country. These documents may be obtained free of charge from the investment fund representative in the countries of domicile of the funds in question or in the countries in which the funds are registered.
The following pages contain information and material relating to funds that are authorised by the SFC in Hong Kong, however, SFC authorisation 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. Some pages may contain information and material relating to funds that are not authorised by the SFC. Such funds are not available to the public in Hong Kong.
Material interests
The Pictet Group, its managing partners, directors, managers and staff may hold or may have held interests or positions in the securities referred to on this website or may have negotiated or acted as a market maker in respect of these securities. Furthermore, these entities or persons may have – or may have had – relationships with directors of the companies issuing the above-mentioned securities, and may supply – or may have supplied – financial or other services to them, or may hold or may have held directorships of the companies in question.
Tax
Tax treatment depends on the personal circumstances of the investor and is subject to change. Investors are advised to seek specific professional advice before making any investment decision.
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Unless otherwise indicated, the entire website is protected by copyright. It is forbidden to reproduce (in full or in part), transmit (by electronic or any other means), amend, create a link to or use this website for any public or commercial purposes without the prior agreement of Pictet Asset Management (Hong Kong) Limited.
Links to other websites
This website may provide automatic links to other websites. You use such links to any external websites entirely at your own risk. Pictet Asset Management (Hong Kong) Limited does not verify the accuracy of the information provided on the websites mentioned on this website. Pictet Asset Management (Hong Kong) Limited therefore accepts no liability for their content or for the products, services or other offers available through them. The websites may contain information and material relating to funds that are not authorized by the Securities and Futures Commission in Hong Kong for distribution to the public in Hong Kong. Due care should be taken by all Hong Kong intermediaries that they comply with all relevant local rules and regulations in responding to requests from clients for information in respect of the investment products referred to on such websites. You are advised to exercise caution and if you are in any doubt about any of the contents of the websites, you should obtain independent professional advice.
This website is prepared and issued by Pictet Asset Management (Hong Kong) Limited, which is a corporation licensed by the SFC to engage in Type 1 (dealing in securities); Type 2 (dealing in futures contracts); Type 4 (advising on securities) and Type 9 (asset management) regulated activities. The contents of this website have not been reviewed by the SFC or any regulatory authority in Hong Kong. You are advised to exercise caution and if you are in doubt about any of the contents of this website, you should obtain independent professional advice.
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