Terms of Use and Disclaimer

These conditions set out the rights and obligations of you and Huatai Financial Holdings (Hong Kong) Limited (“Huatai HK”) in connection with your use of this Website.

PLEASE READ THESE CONDITIONS OF USE CAREFULLY. IF YOU DO NOT AGREE WITH ANY OF THEM, DO NOT ACCESS ANY PART OF THIS WEBSITE.

By accessing this Website, you are agreeing to be bound by these conditions.

 

Legality

All information, material and opinions appearing on this Website are directed at and restricted to persons resident in or entities having a place of business in the Hong Kong Special Administrative Region ("HKSAR") and are not intended for access or use in other jurisdictions.

In certain countries, governmental, legal or regulatory requirements may restrict or prohibit the accessing and /or use of the information, products and services provided by this Website. You confirm that no such requirements apply to you or in respect of your use of this Website.

 

Use of Information

All information, materials and opinions appearing on this Website, (including text, graphics, data, links or other items) are provided "as is" for general information purposes only and are subject to change without notice at our discretion. They have been taken from public or other sources believed to be reliable and are provided by us in good faith. Although efforts have been made to ensure accuracy, we cannot accept any responsibility for and do not warrant or represent that such information, materials or opinions are true, correct, adequate, accurate, complete or fair or free from any virus or fit for any particular purpose, and they should not be relied on as such.

All data, ideas, concepts and other information collected or derived from the information made available to us through this Website shall deemed to be and remain our property and we shall have free use of it without any confidentiality or other restriction, except if agreed in advance in writing or to the extent required by the law of the HKSAR.

 

Unauthorized Use

Unauthorized use of the web sites and systems of Huatai HK including but not limited to unauthorized entry into Huatai HK’s systems, misuse of passwords, or misuse of any information posted on a site is strictly prohibited.

System Failure

(a)  Under no circumstances shall Huatai HK be liable for any failure of performance, system, server or connection failure, error, omission, interruption, breach of security, computer virus, malicious code, corruption, delay in operation or transmission, transmission error or unavailability of access in connection with your accessing this Website and/or using the online services even if Huatai HK had been advised as to the possibility.

(b)  Communications over the Internet may be subject to interruption, transmission blackout, delayed transmission or incorrect data transmission due to the public nature of the Internet or otherwise.

(c)  You have sole responsibility for adequate protection and back up of data and/or equipment and for undertaking reasonable and appropriate precautions to scan for computer viruses or other destructive properties. Huatai HK will not make representations or warranties regarding the accuracy, functionality or performance of any third party software that may be used in connection with this Website.

 

Liability

Huatai HK accept no liability (express or implied) for any damages, loss or other liability whatsoever or any consequential, incidental or special damages (including but not limited to any loss of profits or loss of savings), as a result of your acceptance and/or use of this Website or products or services provided or reliance on any information or material available or opinion appearing on this Website (save only where otherwise specifically provided for in the terms and conditions applicable to such products or services), whether or not we (or any third party) has been advised of the possibility of such damages.

 

Hyperlinks

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You shall not distribute, modify, transmit, reuse, repost, reverse engineer, decompile or make any use of the content of this Website for public, commercial or other purposes other than private personal use, without our prior consent in writing. Nothing contained in this Website should be construed as granting a license or right to use any trademarks or other intellectual property rights in this Website without the written express permission of the owner.

In relation to any information or materials which you submit to Huatai HK using this Website, you hereby grant to Huatai HK a worldwide royalty-free perpetual license of the copyright and intellectual property rights in such information or materials for any purpose as Huatai HK may deem fit including, without limitation, the copying, transmission, distribution and publication thereof, unless restricted by applicable law.

 

Indemnity

You will on demand indemnify, hold harmless and defend Huatai HK against any actions, claims, other liabilities and all costs suffered or incurred as a result of your use of this Website, including but not limited to the breach of any or all of these conditions of use (save only where otherwise specifically provided for in the terms and conditions applicable to particular products or services) or applicable laws and regulations.

 

No Offer or Advice

The information and materials contained in or accessed through this Website shall not be considered or construed as an offer or solicitation to sell, buy or otherwise deal in or as the giving of any advice in respect of shares, stocks, bonds, notes, interests, unit trusts, mutual funds or other securities, investments, loans, advances, credits or deposits in any jurisdiction.

By proceeding to read this information you are agreeing that you do not reside in, or are not proposing to purchase or subscribe for any products or using any services from, any jurisdiction outside HKSAR.

Products and services are available only at the discretion of Huatai HK, subject to the individual terms and conditions on which they are offered and such products and services may be withdrawn or amended at any time without notice. Fees, commissions or other charges may apply to certain products or services – Huatai HK can provide details on request.

The information contained in this Website is not intended to provide professional advice and should not be so relied upon. Persons accessing these pages are advised to obtain appropriate professional advice when necessary.

 

Investment Risks

Investment involves risks, including the loss of principal. The price of units or shares of the Sub-Fund may go up as well as down. Past performance is not indicative of future results. The value of the Sub-Fund can be extremely volatile and could go down substantially within a short period of time. Investors should not base investment decisions on this marketing material alone. The information provided herein is general in nature. Please read the Sub-fund’s Explanatory Memorandum and the Product Key Facts Statement for details including the full text of the risk factors stated therein.

Information contained in this website has not been reviewed by the SFC.

SFC authorization 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.

 

Changes to Website and Conditions of Use

Huatai HK reserves the right in its sole and absolute discretion to change without prior warning or notice of any information or material contained in this Website, as well as these conditions of use in relation to this Website.

 

Governing Law and Jurisdiction

The information and materials contained in or accessed through this website are provided on the basis they are available and for use only in the HKSAR. By accessing this Website and/or using the online services, you agree that such access and/or use, as well as these conditions of use shall be governed by, and construed in accordance with, the laws of the HKSAR and you agree to submit to the non-exclusive jurisdiction of the courts of the HKSAR.

 

Personal Information Privacy

Unless restricted by applicable law, you agree that any and all personal information/data relating to you collected by Huatai HK from this Website from time to time may be used and disclosed for such purposes and to such persons as may be in accordance with Huatai HK’s current Data Protection and Privacy Policy.

A copy of current Data Protection and Privacy Policy of Huatai HK may be accessed by clicking here.

 

Online Behavioural Tracking

To assist in our understanding of your interest in our websites and applications, and to store and maintain user preferences, Huatai HK [works with professional digital analytic solution providers to help us] record[s] and research certain usages and activities on parts of our websites and applications. We will only collect information about how you use a computer, mobile phone or any other electronic device (together referred to here as a "device") that takes you online to browse our websites and applications by using cookies and similar technologies.

A cookie is a small computer file that is sent from a website to the browser of a device and stored in that device. Each website can send its own cookies to the browser but the browser only permits a website to access the cookies it has sent to the browser previously. The cookie does not contain the user's name, address, phone number, email address, or anything that personally identifies the user. [No personally identifiable information about you is collected or shared by Huatai HK with the professional digital analytic solution providers or any other third parties through this research and all information will be cleaned up 13 months after the data collection.]

Currently we do not provide functions to opt out cookie tracking. The reason is all opt out settings for cookies tracking will become invalid if you delete or clear your cookies, or if you change the web browser you are using. To avoid confusion, if you do not want us to collect data from your browser, we suggest you configure your privacy settings within the browser. Please note that if you block all cookies entirely, Huatai HK websites and applications may not function properly.

 

Confidentiality

You agree that Huatai HK shall not be under any obligation of confidentiality to you regarding any such information or materials submitted to Huatai HK using this Website unless agreed otherwise in a separate direct contract between you and Huatai HK or required by law.

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Select Fund

Huatai International
繁
EN

Huatai Global Investment Fund – Huatai US Select Fund

(Fund Type：Hong Kong Umbrella Unit Trust)

Important information about Huatai US Select Fund (the “Sub-Fund” ). Terms used in this website, unless otherwise stated, shall have the same meanings as those defined in the explanatory memorandum of the Sub-Fund (the “Explanatory Memorandum”).

 

Important Notes：

Investment involves risks, including the loss of principal. The price of units or shares of the Sub-Fund may go up as well as down. Past performance is not indicative of future results. The value of the Sub-Fund can be extremely volatile and could go down substantially within a short period of time. The Explanatory Memorandum and the Product Key Facts Statement of the Sub-Fund can be downloaded from this website. Investors should not make investment decisions only base on this material alone. The information provided herein is general in nature. Please read the Sub-Fund’s Explanatory Memorandum and the Product Key Facts Statement for details including the full text of the risk factors stated therein.

Please note:

• Huatai US Select Fund, being a sub-fund of the umbrella unit trust constituted by the Trust Deed and called Huatai Global Investment Fund (the “Fund”). The investment objective of the Sub-Fund is to seek sustainable and stable capital gains over a medium-to-long term through investing primarily in a portfolio of equity and equity-related securities listed in the stock markets in the United States.

• The Fund and the Sub-Fund(s) have been authorised by the SFC as a collective investment scheme pursuant to section 104 of the SFO. The SFC’s authorisation is not a recommendation or endorsement of the Fund and the Sub-Fund(s) nor does it guarantee the commercial merits of the Fund and the Sub-Fund(s) or their performance. It does not mean the Fund or the Sub-Fund(s) is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors.

• You should not invest in the Sub-Fund unless the intermediary who sells it to you has explained to you that the Sub-Fund is suitable for you having regard to your financial situation, investment experience and objectives.

Risk Factors:

Investors should not only base on this website alone to make investment decisions. Please read the Sub-Fund’s Explanatory Memorandum and the Product Key Facts Statement for details including the full text of the risk factors stated therein.

1.         Investment risk

The Sub-Fund is an investment fund and not a bank deposit. The Sub-Fund may fall in value due to any of the key risk factors below and therefore investors may suffer losses. There is no guarantee of repayment of capital.

2.         Currency and foreign exchange risk

Certain investments acquired by the Sub-Fund are denominated in currency(ies) (such as HKD, GBP and/or Euro) different from the base currency. Also, a class of units may be designated in a currency other than the base currency of the Sub-Fund or the currency of its underlying investments. The net asset value of the Sub-Fund may be affected unfavourably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate control.

3.         Equity market risk

The Sub-Fund’s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, such as changes in investment sentiment, political and economic conditions and issuer-specific factors.

4.         Concentration risk

The Sub-Fund’s investments are concentrated in the United States. The Sub-Fund is therefore likely to be 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 United States markets.

5.         Risk of investing in ETFs

The units/shares of the ETFs in which the Sub-Fund may invest may be traded at a substantial premium or discount to their net asset value, which may in turn affect the net asset value of the Sub-Fund. The valuation of units in an ETF will primarily be made by reference to the last traded price. Where the Sub-Fund buys at a premium, it may not fully recover its investment in the event of termination of the ETF and it may suffer losses.

An underlying ETF may be passively managed and the manager of the relevant ETF will not have the discretion to adapt to market changes. Falls in the underlying index of the relevant ETF are expected to result in corresponding falls in value of the relevant ETF and the Sub-Fund.

An underlying ETF may be subject to tracking error risk, which is the risk that its performance may not trackt that of the index exactly.

An underlying ETF may be terminated early under certain circumstances, for example, where the index is no longer available for benchmarking. The Sub-Fund may not be able to recover their investments and may suffer a loss when the ETF is terminated.

6.         Risk of investing in other underlying schemes

The Sub-Fund may invest in units or shares in other underlying collective investment schemes. The underlying schemes in which the Sub-Fund may invest may not be regulated by the SFC. There may be additional costs involved when investing into these underlying schemes. There is also no guarantee that the underlying schemes will always have sufficient liquidity to meet the Sub-Fund’s redemption requests as and when made.

The Sub-Fund may also be subject to the risks associated with the underlying schemes. The Sub-Fund does not have control of the investments of the underlying schemes and there is no assurance that the investment objective and strategy of the underlying schemes will be successfully achieved which may have a negative impact to the net asset value of the Sub-Fund.

7.         Risk associated with small-capitalisation / mid-capitalisation companies

The stocks of small-capitalisation/ mid-capitalisation companies may have lower liquidity and their prices are more volatile and susceptible to adverse economic developments than those of larger capitalisation companies in general.

8.         Hedging risk and risks associated with the use of financial derivative instruments

The Sub-Fund may acquire financial derivatives instruments for hedging and in adverse situations, such hedging may become ineffective and the Sub-Fund may suffer significant losses. The price of a derivative instrument can be very volatile which may result in losses in excess of the amount invested in the derivative instruments by the Sub-Fund. A derivative instrument is subject to the risk that the counterparty of the instrument will not fulfil its obligations to the Sub-Fund. In addition, the risks associated with derivative instruments include credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of derivative instruments can result in a loss significantly greater than the amount invested in the derivative instruments by the Sub-Fund. Exposure to derivative instruments may lead to a high risk of significant loss by the Sub-Fund.

Fund Overview
Investment Objective

The Sub-Fund’s objective is to provide return in line with prevailing money market rates in USD by primarily investing in short-term deposits and high quality money market instruments denominated in USD.

Investment Strategy

A.  Primary Investment

The Sub-Fund may invest at least 70% of its net asset value in equity and equity-related securities denominated in USD which are listed in the stock markets in the United States. To achieve the exposure, the Sub-Fund may directly invest up to 100% of its net asset value in equity securities (including, but are not limited to, stocks) and equity-related securities (including, but are not limited to, equity-based Qualified Exchange Traded Funds (“Qualified ETFs”), i.e. Qualified ETFs which primarily invest in equity securities), that are denominated in USD and listed in the stock markets in the United States. The Sub-Fund may also invest less than 30% of its net asset value in equity-based underlying collective investment schemes (other than Qualified ETFs) whose investment objectives are not to invest in other underlying collective investment schemes to gain indirect exposure to USD-denominated stocks listed in the United States. 

Subject to the above, the Sub-Fund is not subject to any limitation on the portion of its net asset value that may be invested in any one country and/or region, nor is it subject to any limitation on the industry and/or market capitalisation of issuers. The Sub-Fund will not invest in leveraged / inverse ETFs, commodities / synthetic ETFs, crypto ETFs, private equity ETFs or real estate ETFs. 

When considering investment in a passively managed underlying scheme, the primary criteria which the Manager takes into consideration when measuring performance are whether the underlying scheme offers a lower tracking error and/or higher liquidity, etc. than those of peer schemes.

The Sub-Fund may invest in underlying schemes which are also managed by the Manager or its connected persons (as defined in the Explanatory Memorandum) and/or third parties. Where the underlying schemes are managed by the Manager or its connected persons, all initial charges and redemption charges on the underlying schemes must be waived. In addition, the Manager may not obtain a rebate on any fees or charges levied by an underlying scheme or its management company, or any quantifiable monetary benefits in connection with investments in any underlying scheme.

B.  Ancillary Investments 

In normal circumstances, the Sub-Fund may have exposure of less than 30% of its net asset value to stocks listed in stock markets other than those in the United States (directly or indirectly through investments in underlying collective investment schemes), ETFs which are listed in stock markets other than those in the United States (including money market ETFs), cash and money market instruments.

Under exceptional circumstances (such as a prolonged bearish market with market volatilities rising, deteriorating sentiments or rapidly worsening economic fundamentals), the Sub-Fund may hold temporarily up to 100% of its net asset value in cash and cash equivalents (e.g. deposit, certificates of deposit, commercial paper and treasury bills) or money market funds for cash flow management in order to defend against market turmoil and to capture future investment opportunities as and when they arise.

The Manager does not intend to enter into any securities lending, sale and repurchase transactions and/or reverse repurchase transactions in respect of the Sub-Fund.

The Sub-Fund may use financial derivative instruments (including but not limited to, interest rate swaps, futures, credit derivatives, forward contracts and options) for hedging purposes only. 

[1] Qualified Exchange Traded Funds are defined in the Explanatory Memorandum to mean exchange traded funds that are:

(a) authorized by the SFC under 8.6 or 8.10 of the Code on Unit Trusts and Mutual Funds (the “Code”), or

(b) listed and regularly traded on internationally recognized stock exchanges open to the public (nominal listing not accepted) and either (i) the principal objective of which is to track, replicate or correspond to a financial index or benchmark, which complies with the applicable requirements under 8.6 of the Code; or (ii) the investment objective, policy, underlying investments and product features of which are substantially in line with or comparable with those set out under 8.10 of the Code.

Investments in Qualified Exchange Traded Funds are considered and treated as listed securities for the purposes of and subject to the requirements in Chapters 7.1, 7.1A and 7.2 of the Code.

Fund Information
Dealing frequency Daily
Fund Manager Huatai Financial Holdings (Hong Kong) Limited
Distribution policy No dividends will be declared or distributed.
Financial year-end of the Sub-Fund Dec-31
Management fee

Class A USD Units: up to 2% p.a., currently 1.2% p.a.

Class I USD Units: up to 1% p.a., currently 0.6% p.a.

Class S USD Units: up to 0.5% p.a., currently 0.2% p.a.

Class A HKD Units: up to 2% p.a., currently 1.2% p.a.

Class I HKD Units: up to 1% p.a., currently 0.6% p.a.

Class S HKD Units: up to 0.5% p.a., currently 0.2% p.a.
Subscription fee Up to 3% of the amount subscribed
Redemption fee None
Minimum Initial investment Class A USD: USD 100
Class I USD: USD 1,000,000
Class S USD: USD 100
Class A HKD: HKD 100
Class I HKD: HKD 8,000,000
Class S HKD: HKD 100
Minimum Additional investment Class A USD: USD 100
Class I USD: USD 100,000
Class S USD: USD 100
Class A HKD: HKD 100
Class I HKD: HKD 800,000
Class S HKD: HKD 100
ISIN Class A USD：HK0001148177
Class I USD：HK0001148185
Class S USD：HK0001148193
Class A HKD：HK0001148201
Class I HKD：HK0001148219
Class S HKD：HK0001148227
 
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Disclaimer

Huatai Financial Holdings (Hong Kong) Limited is the issuer of this website. The information and materials contained in or accessed through this Website shall not be considered or construed as an offer or solicitation to sell, buy or otherwise deal in or as the giving of any advice in respect of shares, stocks, bonds, notes, interests, unit trusts, mutual funds or other securities, investments, loans, advances, credits or deposits in any jurisdiction.

Investment involves risks, including the loss of principal. The price of units or shares of the Sub-Fund may go up as well as down. Past performance is not indicative of future results. The value of the Sub-Fund can be extremely volatile and could go down substantially within a short period of time. You should read the Sub-Fund’s Explanatory Memorandum and Product Key Facts Statement for details, including risk factors. Investors should not base investment decisions on this marketing material alone.

Information contained in this website has not been reviewed by the SFC.

SFC authorization 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.

Copyright © 2023 Huatai Financial Holdings (Hong Kong) Limited