Disclaimer:

Please note that the information in this material (the “Information”) is for reference only and does not constitute an offer, a solicitation of an offer or invitation, advertisement, inducement, representation of any kind or form whatsoever or any advice or recommendation to buy or sell securities or commodities. (whether on the indicative terms or otherwise). CSOP Asset Management Limited (“CSOP”) endeavors to ensure the accuracy and reliability of the information and materials provided but does not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omission. It may contain “forward-looking” information that is not purely historical in nature. Such information may include, projections, forecasts, estimates of yields or returns, and proposed or expected portfolio composition. It is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Any opinions contained herein, which reflect our judgment at this date, are subject to change without further notice.

Neither this material nor any of its contents may be reproduced or published for any other persons except the intended recipients without the prior written consent of CSOP.

Risk Disclosure:

Investment involves risks. Investment value may rise or fall. Past performance information presented is not indicative of future performance. Investors should refer to the Prospectus and the Product Key Facts Statement for further details, including product features and risk factors. Investors should not base on this material alone to make investment decisions.

CSOP Hang Seng Index Daily (-1x) Inverse Product and CSOP Hang Seng China Enterprises Index Daily (-1x) Inverse Product:

  • CSOP Hang Seng Index Daily (-1x) Inverse Product (the “Product”) is a futures-based product which invests directly in futures contracts on the Hang Seng Index (“HSI Futures”) listed on the HKFE so as to give the Product the inverse (-1x) of the daily performance of the Hang Seng Index ("Index”).
  • This is an inverse product and is different from conventional Product. Should the value of the underlying securities of the Index increase, it could have a negative effect on the performance of the Product. Unitholders could, in certain circumstances including a bull market, face minimal or no returns, or may even suffer a complete loss, on such investments.
  • This Product is designed to be used for short term trading or hedging purposes, and is not intended for long term investment. This Product is not intended for holding longer than one day as the performance of this Product over a longer period may deviate from and be uncorrelated to the inverse performance of the Index over the period.
  • Investment in futures contracts involves specific risks such as high volatility, leverage, rollover and margin risks. A relatively small price movement in a HSI Future may result in a proportionally high impact and substantial losses to the Product, having a material adverse effect on the NAV.
  • CSOP Hang Seng China Enterprises Index Daily (-1x) Inverse Product (the “Product”) is a futures-based product which invests directly in futures contracts on the Hang Seng China Enterprises Index (“HSCEI Futures”) listed on the HKFE so as to give the Product the inverse (-1x) of the daily performance of the Hang Seng China Enterprises Index ("Index”).
  • This is an inverse product and is different from conventional Product. Should the value of the underlying securities of the Index increase, it could have a negative effect on the performance of the Product. Unitholders could, in certain circumstances including a bull market, face minimal or no returns, or may even suffer a complete loss, on such investments.
  • This Product is designed to be used for short term trading or hedging purposes, and is not intended for long term investment. This Product is not intended for holding longer than one day as the performance of this Product over a longer period may deviate from and be uncorrelated to the inverse performance of the Index over the period.
  • Investment in futures contracts involves specific risks such as high volatility, leverage, rollover and margin risks. A relatively small price movement in a HSCEI Future may result in a proportionally high impact and substantial losses to the Product, having a material adverse effect on the NAV.
  • Daily rebalancing of Product’s holdings causes a higher level of portfolio transactions than compared to the conventional Product. High levels of transactions increase brokerage and other transaction costs.
  • The Manager may, at its discretion, pay distributions out of capital. Payment of distributions out of capital or effectively out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment and may result in an immediate reduction in the NAV per Unit.

CSOP Hong Kong Dollar Money Market ETF:

  • CSOP Hong Kong Dollar Money Market ETF (the “Sub-Fund”) invests in Hong Kong Dollar-denominated and settled short-term deposits and money market instruments, and the Manager adopts a passive tracking strategy to provide return that follows the 3-month Hong Kong Dollar Interest Settlement Rate (commonly known as Hong Kong Interbank Offered Rate or “HIBOR”) calculated by the Hong Kong Association of Banks (“HKAB”) (the “Benchmark”).
  • The Sub-Fund does not guarantee principal and the Manager has no obligation to redeem the Units at the offer value. The Sub-Fund does not have a constant Net Asset Value. The Sub-Fund is not subject to the supervision of the Hong Kong Monetary Authority. It is not principal protected and is not protected by the deposit protection scheme.
  • Investors should be aware that investment in the Sub-Fund is subject to normal market fluctuations and other risks inherent in the underlying assets into which the Sub-Fund may invest. There can be no assurance that any appreciation in value of investments will occur. There is no guarantee of repayment of principal.
  • The factors influencing interest rates include, amongst other things, monetary policy, fiscal policy and inflation. If the Benchmark becomes negative, the Sub-Fund will suffer a loss. Moreover, if the Benchmark is at a low level, the Sub-Fund may also produce a negative return over a given period of time, as ongoing charges of the Sub-Fund may be higher than the interests received by the Sub-Fund. Therefore, the Sub-Fund may suffer a loss even when the Benchmark is positive.
  • Bank deposits are subject to the credit risks of the relevant financial institutions. The Sub-Fund’s deposit may not be protected by any deposit protection schemes, or the value of the protection under the deposit protection schemes may not cover the full amount deposited by the Sub-Fund. Therefore, if the relevant financial institution defaults, the Sub-Fund may suffer losses as a result.
  • As the Sub-Fund invests in short-term debt instruments with short maturities, the turnover rates of the Sub-Fund’s investments may be relatively high and the transaction costs incurred as a result of the purchase or sale of short-term debt instruments may also increase which in turn may have a negative impact on the Net Asset Value of the Sub-Fund.
  • The Sub-Fund is exposed to credit/counterparty risk, interest rate risk, sovereign debt risk, credit downgrading risk and this may adversely affect the Sub-Fund’s performance.
  • The Sub-Fund is subject to valuation risk and concentration risk. Valuation of the Sub-Fund’s investments may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the Net Asset Value calculation of the Sub-Fund. The Sub-Fund is likely more volatile than a broad-based fund that adopts a more diversified strategy. The value of the Sub-Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the Hong Kong market.
  • In the event of the failure of the counterparty with which collateral has been placed, the Sub-Fund may suffer loss as there may be delays in recovering collateral placed out or the cash originally received may be less than the collateral placed with the counterparty due to inaccurate pricing of the collateral or market movements.

CSOP WTI Oil Annual Roll December Futures ER ETF:

  • CSOP WTI Oil Annual Roll December Futures ER ETF (the “Sub-Fund”) is a futures-based exchange traded fund and it aims to provide investment results that, before fees and expenses, closely correspond to the performance of the BofA Merrill Lynch Commodity index eXtra CLA Index (Excess Return)(“Excess Return” does not mean any additional return on the Sub-Fund’s performance) (the “Index”).
  • The Sub-Fund will invest directly in the December month West Texas Intermediate (“WTI”) crude oil futures contracts traded on the New York Mercantile Exchange (the “NYMEX”). Investment in the Sub-Fund is only suitable to those investors who are in a financial position to assume the risks involved in futures investments.
  • Futures investments are subject to certain key risks including leverage, counterparty and liquidity risks. Movement in the prices of futures may be highly volatile. The Sub-Fund may not be suitable for all investors. It is possible that the entire value of your investment could be lost.
  • Trading price of the Units on SEHK is subject to market forces and may trade at a substantial premium or discount to the NAV per Unit.
  • The Manager may, at its discretion, pay dividends out of capital. Payment of dividends out of capital or effectively out of the capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. The Sub-Fund may result in an immediate reduction of the NAV per Unit.


The material has been prepared by CSOP and has not been reviewed by the Securities and Futures Commission.

The material has not been reviewed by the SFC.

Issuer: CSOP Asset Management Limited

Trade War • US Interest Rate Hike •
China Economy Slowing Down
In this gloomy market
How to manage your
investment?
Inverse products,
hedging the downtrend risk
CSOP Hang Seng Index Daily (-1x) Inverse Product
CSOP Hang Seng China Enterprises Index Daily (-1x) Inverse Product
  • HSI slumped to around 26000 from its highest level of 33000 in 2018.
  • Inverse products aim to protect your investment return in a bear market by hedging the downtrend risk.

HKD money market ETF,
capturing the interest hike opportunities
CSOP Hong Kong Dollar Money Market ETF
  • Hong Kong raises rate after US’s rate hike trajectory, 3-month HKD HIBOR has grown above 2% in October, 2018.
  • The first HKD Money Market ETF, tracking HKD 3-month HIBOR, is designed to help investors fully utilize the idle funds.

Oil ETF,
diversifying your investment
CSOP WTI Oil Annual Roll December Futures ER ETF
  • Oil price has soared more than 25% in 2018.
  • The incidents of Iran sanctions, Saudi journalists’ assassination and decline of US’s oil production were all expected to induce a rising oil price.
Privacy Statement

This is the website of CSOP Asset Management Limited ("CSOP"). We understand that our customers and website visitors are concerned about the privacy of information. We have established policies and procedures concerning the collection, use and security of your information that will help protect your privacy. This policy statement provides information on the obligations and policies of CSOP under the Personal Data (Privacy) Ordinance (the "Ordinance").

OUR CORPORATE POLICY

CSOP recognize 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 Ordinance. Each employee of CSOP 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 CSOP'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

There are two broad categories of personal data held by us. They are personal data relating to clients and employees of CSOP.

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.
Personal data relating to employment held by us may include the following:
  • name and address, contact details, date of birth and nationality of employees and their spouses and their identity card or passport numbers and place and date of issue thereof;
  • additional information compiled about employees which may include records of remuneration and benefits paid to the employees, records of job postings, transfer and training, records of medical checks, sick leave and other medical claims and performance appraisal reports of the employees; and
  • relevant personal data pertaining to former employees may be required by us to fulfill its obligations to the former employees and its legal obligations under certain ordinances.
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 by CSOP;
  • 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 CSOP, subject to client's express prior written consent;
  • compliance with applicable laws and regulations; and
  • any other purposes relating or incidental thereto.
The purposes for which personal data relating to employees may be used are as follows:-
  • determining and reviewing salaries, bonuses and other benefits;
  • consideration for promotion, training, secondment or transfer;
  • providing employee references;
  • registering employees licensees with statutory authorities/institutions for purposes directly related or associated to the employment; and
  • any other purposes relating or incidental thereto.
Transfer of Personal Data

Personal data held by CSOP 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 CSOP which provides administrative, telecommunications, computer, marketing, professional or other services to CSOP in connection with its business operations;
  • any person to whom CSOP is under an obligation to make disclosure under the requirements of any law binding on CSOP or any of its member companies or under and for the purposes of any guidelines issued by regulatory or other authorities with which CSOP or its member companies are expected to comply;
  • any actual or proposed assignee of CSOP or participant or sub-participant or transferee of CSOP's rights in respect of the client; and
  • any persons or bodies corporate under a duty of confidentiality to CSOP.
Accuracy of Personal Data

CSOP 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.

Your Rights

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

CSOP Asset Management Limited,
2801-2802 Two Exchange Square
8 Connaught Place, Central
Hong Kong

Upon receipt of such notice, we shall, without charge to you, cease using your personal data for direct marketing purposes.

Disclaimer

CSOP Asset Management Limited ("CSOP") is a regulated institution in Hong Kong by the Securities and Futures Commission ("SFC"). This website contains information about CSOP and the services and products offered by CSOP. The information provided on the CSOP website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country that would subject CSOP or its affiliates to any registration requirement within such jurisdiction or country. 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.

The website is prepared by CSOP and has not been reviewed by the SFC. You are advised to exercise caution and if you are in any doubt about any of the contents of the website, you should obtain independent financial and professional advice. Private Investors are advised to consult with their financial advisors, banks, or other professional advisors. Nothing herein should be construed as investment advice nor as comment on the suitability of any investment or investment service. Prospective investors should take advice from their own professional advisors before making any investment decision.

The information contained in this website is provided for reference only and does not constitute any investment advice. Past performance is not an indicative of future performance. Investment involves risk and investors may not get back the amount originally invested. Please read the relevant offering document carefully, in particular fund features and the risks involved in investing in the fund.

Nothing on this website constitutes a solicitation, invitation, recommendation or offer to purchase a product offered by CSOP or any CSOP funds or as the basis for any investment decision.

This site may include forward-looking statements which are based on CSOP's current opinions, expectations and projections. CSOP undertake no obligation to update or revise any forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements.

If you have accessed this site using a link from another site, CSOP do not accept any liability or responsibility for the accuracy of information contained within the sites of other providers who have links to any pages of this site.

CSOP do not accept responsibility for any interference or damage to your own computer system, the records stored therein or those of any other person, which arises in connection with your use of this website or any linked website. A Cookies is utilized on this website. It allows your browser to check whether you have read and agreed to these terms. The Cookies does not contain any personally identifiable information. Unfortunately, if your browser is set up to reject Cookies you will not be able to see the content of this website. All copyrights reserved and its contents including all information, graphics, code, text and design in this website are owned by CSOP and should not be reproduced or distributed without its permission. These terms are governed exclusively by the laws of Hong Kong and constitute the entire agreement between you and CSOP in relation to the use of this website.

The information is current as at the date of publication but is subject to change without notice.