UBS-CSOP Global Asset
Momentum Allocation Index Bloomberg Code: UCGAMAUN Index

This website is prepared for the use of information and illustration. It is intended for professional investors only and is not legally binding. It should not be considered as an offer or solicitation to deal in any investment products. CSOP Asset Management Limited (“CSOP”) which prepared this website believes that information on this website is based upon sources that are believed to be accurate, complete, and reliable. However, CSOP does not warrant the accuracy and completeness of the information, and shall not be liable to the recipient or controlling shareholders of the recipient resulting from its use. CSOP is under no obligation to keep the information up-to-date. The provision of this website shall not be deemed as constituting any offer, acceptance, or promise of any further contract or amendment to any contract.

The charts on this website may contain simulations and hypothetical past performance for illustration only. They are not for guarantee in any form. These results are based on simulated or hypothetical performance with inherent limitations. Simulated or hypothetical performance is not real performance and may differ from actual transaction results. CSOP is not liable for failure to achieve any forecast or target.

Investment involves risk. Future performance and the capital value of products linked to this Index are not guaranteed. Past performance figures are not indicative of future performance. The value of units may rise as well as fall. We recommend investors obtain and read a copy of the offering documents (including risk factors) before investing. Investors should not make any investment decision solely based on this website. Investors should assess if any investment, security or strategy is appropriate based on their personal financial situations. Investors should seek for professional advice if necessary. CSOP owns all copyrights and property rights relating to information on this website. This website should not be distributed to any parties without the written consent of CSOP. Nothing herein shall be construed as granting the recipient, explicit or implicit, any license or right to the information in this website. This website has not been reviewed by the SFC in Hong Kong.

Index Objective

UBS-CSOP Global Asset Momentum Allocation Index (“GAMA Index”) is designed for high networth and institutional investors. It is a rule-based quant strategy that aims to achieve stable capital increase in different market cycles, through a cross-market and cross-asset portfolio. Risk Parity Asset Allocation and Cross Asset Momentum Strategy are the core strategies of the index. It will be fully rebalanced every 5 trading days.

Index Highlights

Global Asset Allocation
The index covers 6 markets with 14 underlying assets. Diversification helps to reduce single-market risk and portfolio volatility.
Risk Parity Strategy
A risk parity based exposure management framework has been used to control the portfolio risk at a stable range despite varying market volatility from boom to burst.
Index Design Expert
The index designer is experienced in developing quantitative products, among which the AUM of the largest one has exceeded 10 billion USD.
Tailor-made Index Solutions
There are a wide range of Index linked products that can be tailor made, from principal protected structured deposit with floored interest to very high participation private fund seeking substantial capital gain.
Cross Asset Momentum
The Index used a cross asset momentum signal aiming to provide consistent long-term return throughout different stage of economic cycles, interest rate environment and inflation conditions.

GAMA Index Historical Performance

Outstanding Performance against Other Asset Classes
According to the back-tested data from 2002 to 2018, the GAMA Index provided consistent growth with smoothing volatility. Compared with other major asset classes, GAMA Index significantly outperformed with respect to major parameters below.
Data Source: CSOP, Bloomberg.
Time Range: 28 Mar, 2002 –
The charts in this document may contain simulations and hypothetical past performance for illustration only. They are not for guarantee in any form. CSOP is not liable for failure to achieve any forecast or target.
  GAMA Index GAMA Index
(2x leverage)
Equity
(MSCI World Index)
Fixed Income
(Bloomberg Barclays Global Agg Treasuries Index)
Commodity
(S&P GSCI Energy & Metal Index)
HedgeFund
(HFRX Global Hedge Fund Index)
EXCESS RETURN P.A. 4.92% 9.87% 5.03% 3.25% -2.49% 0.11%
SHARPE RATIO (EXCESS RETURN P.A. / VOLATILITY) 1.16 1.16 0.32 0.49 -0.09 0.03
WIN MONTH% 66.18% 66.18% 62.8% 58.45% 56.04% 58.94%
VOLATILITY 4.25% 8.51% 15.79% 6.65% 27.43% 3.67%
MAXIMUM DRAWDOWN -7.12% -13.83% -59.31% -12.37% -87.96% -29.98%
EXCESS RETURN P.A./MMD (ABS.) 69.02% 71.4% 8.49% 26.24% 2.84% 0.36%
Better performance in terms of Excess Return, Sharpe Ratio and Win Months.
Less Volatility, Maximum Drawdown and time to recover from the Maximum Drawdown.
Data Source: CSOP, Bloomberg.
Time Range: 28 Mar, 2002 –
The charts in this document may contain simulations and hypothetical past performance for illustration only. They are not for guarantee in any form. CSOP is not liable for failure to achieve any forecast or target.
Consistent Performance in Uncertain Times
The tables below compare back-tested yearly return and volatility of GAMA Index, MSCI World Price Index and CSI 300 Index. Global equity is subject to fluctuations of different markets around the world, while China equity market is dominated by retail investors with big volatility.
Annual return: GAMA Index vs Global and China Equity Market

Year GAMA Index MSCI World Price Index CSI300 Index
(CNY Price Index)
2002** 5.81% -20.8% -18.5%
2003 8.58% 30.8% 8.3%
2004 7.93% 12.8% -16.3%
2005 9.90% 7.6% -7.7%
2006 2.71% 18.0% 121.0%
2007 2.37% 7.1% 161.5%
2008 2.24% -42.1% -65.9%
2009 1.65% 27.0% 96.7%
2010 3.32% 9.6% -12.5%
2011 4.30% -7.6% -25.0%
2012 3.03% 13.2% 7.6%
2013 10.06% 24.1% -7.6%
2014 6.53% 2.9% 51.7%
2015 -1.69% -2.7% 5.6%
2016 11.67% 5.3% -11.3%
2017 7.43% 20.1% 21.8%
2018 -4.09% -10.4% -25.3%
2019** 4.88% 16.1% 27.4%
The data shows in uncertain market circumstances when equity market saw significant drops, GAMA Index could still deliver better return.
Data Source: CSOP, Bloomberg.
**Time Range: 28 Mar, 2002 – 31 Jul, 2019
The charts in this document may contain simulations and hypothetical past performance for illustration only. They are not for guarantee in any form. CSOP is not liable for failure to achieve any forecast or target.
Volatility: GAMA Index vs Global and China Equity Market
Source:CSOP,Annualized volatility factor: 260
**Time range: 28 Mar, 2002 – 31 Jul, 2019
Net of fee index, 1% annualized fee is accrued on ACT/365 basis.
The charts in this document may contain simulations and hypothetical past performance for illustration only. They are not for guarantee in any form. CSOP is not liable for failure to achieve any forecast or target.

Flexible Tailor-made structure

There are a wide range of Index linked products that can be tailor made, from principal protected structured deposit with floored interest to very high participation private fund seeking substantial capital gain.

Different index participation and delivery format is used to meet different investor risk tolerance and return objectives.



The Master Behind GAMA

Xiaoxi XuIndex CIO, CSOP
  • More than 17 years relevant experience in FX & Index investment
  • Headed the index trading team of one of the world's leading investment banks for 10 years
  • Developed a lot of industry 's renowned flagship indices, which have more than 5-year live track record with sharp ratio over 1.
  • The largest index developed by him has accumulated over US$ 10bn in AUM

Disclaimer:

This website is owned and managed by CSOP Asset Management Limited (“CSOP”). CSOP reserves the right to change, modify, add or delete, any content and the terms & conditions of use of this website without notice. Users are advised to periodically review the contents of this website to be familiar with any modifications.

This website is prepared by CSOP and has not been reviewed by the Securities and Futures Commission.



工作機會暫時只提供於英語版本, 請前往英語頁面繼續操作

前往工作機會

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:-

Personal data relating to employment held by us may include the following:-

Main Purposes of keeping Personal Data

The purposes for which personal data relating to clients may be used are as follows:-

The purposes for which personal data relating to employees may be used are as follows:-

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:-

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.