CSOP Hang Seng TECH Index Daily (2x) Leveraged Product
(Stock Code: 7226)

IMPORTANT INFORMATION about the CSOP Hang Seng TECH Index Daily (2x) Leveraged Product

IMPORTANT: 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 TECH Index Daily (2x) Leveraged Product (the “Product”) is a sub-fund of CSOP Leveraged and Inverse Series, an umbrella unit trust established under Hong Kong law. Units of the Product (the “Units”) are traded in HKD on The Stock Exchange of Hong Kong Limited (the “SEHK”) like stocks. The Product uses a swap-based synthetic replication strategy by investing directly in Swaps, so as to give the Product twice (2x) the Daily performance of the Hang Seng TECH Index (the “Index”). It is denominated in HKD. Creations and redemptions are in HKD only.

The Product is a derivative product and is not suitable for all investors. There is no guarantee of the repayment of principal. Therefore your investment in the Product 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 leveraged performance of the Index over that same period (e.g. the loss may be more than twice the fall in the Index).
The effect of compounding becomes more pronounced on the Product’s performance as the Index experiences volatility. With higher Index volatility, the deviation of the Product’s performance from the leveraged performance of the Index will increase, and the performance of the Product will generally be adversely affected.
As a result of Daily rebalancing, the Index’s volatility and the effects of compounding of each day’s return over time, it is even possible that the Product will lose money over time while the Index’s performance increases or is flat.
Under collateralisation risk: The Manager seeks to mitigate the counterparty risks by fully collateralising all Swap Counterparty exposures. There is a risk that the value of the collateral may be substantially lower than the amount secured and so the Product may suffer significant losses. Any loss would result in a reduction in the NAV of the Product and impair the ability of the Product to achieve its investment objective.
The Product may suffer significant losses if the Swap Counterparty fails to perform its obligations under the Swap. The value of the collateral assets may be affected by market events and may diverge substantially from the leveraged performance of the Index, which may cause the Product’s exposure to the Swap Counterparty to be under-collateralised and therefore result in significant losses.
Default risk: The Product seeks to obtain the required exposure through more than one Swap with more than one Swap Counterparty. The Product is therefore exposed to counterparty risk and default risk of the Swap Counterparties and may suffer significant losses if a swap counterparty fails to perform its obligations. Derivative instruments are susceptible to price fluctuations and higher volatility, which may result in large bid and offer spreads with no active secondary market. The Product may suffer losses potentially equal to the full value of the financial derivatives.
Intra-day counterparty risk: The Manager will manage the Product to ensure that the collateral held by the Product will represent at least 100% of the Product’s gross total counterparty risk exposure and be maintained, marked-to-market on a daily basis, with a view to ensuring that there is no uncollateralised counterparty risk exposure at the end of a trading day. If the collateral held by the Product is not at least 100% of the Product’s gross total counterparty risk exposure in respect of any trading day T, by the end of that trading day T, the Manager will generally require that each Swap Counterparty deliver additional collateral assets to make up for the difference in value, with the settlement of such delivery expected to occur on or before trading day T+2. Despite the counterparty risk management measures in place, the management of the Product’s net exposure to each Swap Counterparty to zero is subject to settlement risks arising from settlement failures and market risks (including price movements prior to the required cash payment by the Swap Counterparty to the Product). Any delay in the cash payment by the Swap Counterparty to the Product prior to the end of the relevant trading day T+2 may cause the Product’s exposure to a Swap Counterparty to be larger than zero from time to time. This may result in significant losses for the Product in the event of the insolvency or default of that Swap Counterparty.
Early termination of Swaps risk: In some circumstances, a Swap Counterparty can terminate the swap agreements early which may adversely impact the Product’s performance. Such early termination can also impair the Product’s ability to achieve its investment objective and may subject the Product to substantial loss. Also, the Product may face an increase in the cost to enter into a similar swap agreement with additional Swap Counterpart(ies).
Increase of swap fees risk: The Product will bear the swap fees, which are subject to the discussion and consensus between the Manager and the Swap Counterparty based on the actual market circumstances on a case-by-case basis. The current swap fees are a best estimate only and may deviate from the actual market conditions. In extreme market conditions and exceptional circumstances, the Swap Counterparty’s costs of financing the underlying hedge may increase significantly and in return increase the swap fees.
Capacity limit risk: The Swap Counterparties may also be subject to a capacity limit representing the commitment of the Swap Counterparty to conduct the Swap transactions to provide the required exposure to the Index for the Product. Accordingly, the Product’s exposure to the Index may be affected. Whilst the Manager does not anticipate that this will have any immediate effect on the Product, if any Swap Counterparty reaches its capacity limit or if the Net Asset Value of the Product grows significantly this may prevent creations of Units due to the inability of the Product to conduct Swap transactions. This may cause a divergence between the trading price of a Unit on the SEHK and the Net Asset Value per Unit. The investment exposure could also deviate from the target exposure which adds tracking error to the Product.
The Index is a new index. The Product may be riskier than other exchange traded funds tracking more established indices with longer operating history.
The Product will utilise leverage to achieve a Daily return equivalent to twice (2x) the return of the Index. Both gains and losses will be magnified. The risk of loss resulting from an investment in the Product in certain circumstances including a bear market will be substantially more than a fund that does not employ leverage.
There is no assurance that the Product can rebalance its portfolio on a Daily basis to achieve its investment objective. Market disruption, regulatory restrictions, counterparty capacity limits or extreme market volatility may adversely affect the Product’s ability to rebalance its portfolio.
The rebalancing activities of the Product typically take place near the end of trading of the underlying market to minimise tracking difference. As a result, the Product may be more exposed to the market conditions during a shorter interval and may be more subject to liquidity risk and the Swap Counterparty's capacity to execute may also be subject to liquidity risk.
The Product is normally rebalanced at the end of trading of the underlying market on a Business Day. As such, return for investors that invest for period less than a full trading day will generally be greater than or less than two times (2x) leveraged investment exposure to the Index, depending upon the movement of the Index from the end of one trading day until the time of purchase.
Daily rebalancing of Product’s holdings causes a higher level of portfolio transactions than compared to the conventional exchange traded funds. High levels of transactions increase brokerage and other transaction costs.
To the extent that the index constituents concentrates in Hong Kong listed securities (including H-shares and red chip shares) of a particular sector or market, the investments of the Product may be similarly concentrated. The value of the Product may be more volatile than that of a fund having a more diverse portfolio of investments. The value of the Product may be more susceptible to adverse conditions in such particular market/sector.
The constituents of the Index are concentrated in companies with a technology theme. Many of the companies with a high business exposure to a technology theme have a relatively short operating history. Technology companies are often characterised by relatively higher volatility in price performance when compared to other economic sectors. Companies in the technology sector also face intense competition, and there may also be substantial government intervention, which may have an adverse effect on profit margins. Rapid changes could render obsolete the products and services offered by these companies. These companies are also subject to the risks of loss or impairment of intellectual property rights or licences, cyber security risks resulting in undesirable legal, financial, operational and reputational consequences, and may be exposed to risks associated with different technology sectors and themes (including industries, consumer discretionary, healthcare, financials, information technology, internet (including mobile), fintech, cloud, e-commerce, or digital).
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.
The Product is not “actively managed” and the Manager will not adopt any temporary defensive position when the Index moves in an unfavourable direction. In such circumstances, Units of the Product will also decrease in value.
The trading price of the Units on the SEHK is driven by market factors such as the demand and supply of the Units. Units may trade at a substantial premium or discount to the NAV.
As investors will pay certain charges (e.g. trading fees and brokerage fees) to buy or sell Units on the SEHK, investors may pay more than the NAV per Unit when buying Units on the SEHK, and may receive less than the NAV per Unit when selling Units on the SEHK.
Although the Manager will use its best endeavours to put in place arrangements so that at least one market maker will maintain a market for the Units and gives not less than three months’ notice prior to termination of the market making arrangement, liquidity in the market for the Units may be adversely affected if there is only one market maker for the Units. There is also no guarantee that any market making activity will be effective.
The Product may be subject to tracking error risk, which is the risk that its performance may not track that of the Daily leveraged performance of the Index exactly. This tracking error may result from the investment strategy used, high portfolio turnover, liquidity of the market and fees and expenses and the correlation between the performance of the Product and the two times (2x) Daily performance of the Index may be reduced. The Manager will monitor and seek to manage such risk in minimising tracking error. There can be no assurance of exact or identical replication of the leveraged performance of the Index at any time, including on an intra-day basis.
Prices of the Product may be more volatile than conventional ETFs because of the use of leverage and the daily rebalancing activities and the leverage effect.
The Product may be terminated early under certain circumstances, for example, where there is no market maker, the Index is no longer available for benchmarking or if the size of the Product falls below USD20 million. Investors may not be able to recover their investments and suffer a loss when the Product is terminated.

Please note that the above listed investment risks are not exhaustive and investors should read the Prospectus in detail before making any investment decision.

Investment Objective and Strategy

The investment objective of CSOP HANG SENG TECH INDEX DAILY (2X) LEVERAGED PRODUCT (“the Product”) is to provide investment results that, before fees and expenses, closely correspond to twice (2x) the Daily performance of Hang Seng TECH Index (the “Index”). The Product does not seek to achieve its stated investment objective over a period of time greater than one day.
The Manager intends to adopt a Swap-based synthetic replication strategy to achieve the investment objective of the Product.

* For details, please refer to the Prospectus and Product Key Facts

Intra-day Estimated NAV1 & Market Price2

Market Information 3, 4

  Date Last Change Change (%)
NAV per Unit in HKD - - - -
Closing Price for Trading unit in HKD - - - -

Product Information

Manager CSOP Asset Management Limited
Base Currency HKD
Domicile Hong Kong
Asset Class Swap
Total NAV (HKD) -
Outstanding Units -
Management Fee^ 1.60%
Ongoing Charges over a year # (annual average daily ongoing charges*) 1.65% (0.007%)
Dividend Policy Annually in December subject to the Manager’s discretion

^ Include trustee fee, custodian fee and administration fee. Please note that the management fee may be increased up to a permitted maximum amount by providing one month’s prior notice to Unitholders. Please refer to the section headed “Fees and Expenses” in the Prospectus for further details of the fees and charges payable and the permitted maximum of such fee allowed, as well as other ongoing expenses that may be borne by the Product.

# The ongoing charges figure is an estimate based on the annualized projection of the actual expenses for the period between the Product’s inception date and 31 December 2020, and represents the sum of the estimated ongoing expenses chargeable to the Product expressed as a percentage of the Product's NAV. The actual figure may be different from this estimated figure and it may vary from year to year. It does not include the swap fees.

* The annual average daily ongoing charges figure is equal to the ongoing charges figure over the year divided by the number of dealing days during that year. The actual figure may be different from the estimate figure and may vary from year to year.

Appropriation

Leverage Two times (2x) daily performance of the underlying index
Actively Managed No
Swap Based Yes
Futures Based No
Securities Lending No

Underlying Index Information

Underlying Index Hang Seng TECH Index
Index Provider Hang Seng Indexes Company Limited
Currency HKD
Index Launch Date 27 July 2020
Benchmark Level Type Price return
Bloomberg Ticker HSTECH

Trading Information

Exchange Hong Kong Stock Exchange – Main Board
Date of Listing / Dealing 10 December 2020
Primary Exchange Time Zone GMT+8
Exchange Ticker 7226
Bloomberg Ticker 7226 HK
ISIN HK0000672946
Trading Board Lot 100 Units
Trading Currency HKD

Participating Dealers5

ABN AMRO Clearing Hong Kong LimitedHaitong International Securities Company Limited
China International Capital Corporation Hong Kong Securities LimitedJ.P. Morgan Broking (Hong Kong) Limited
Citigroup Global Markets Asia LimitedSG Securities (HK) Limited
Huatai Financial Holdings (Hong Kong) LimitedMirae Asset Securities (HK) Limited
China Merchants Securities (HK) Co., LimitedBarclays Bank PLC

Swap Counterparties

As of 23 Sep, 2021
Counterparty Name Gross Exposure* Net Exposure
BNP PARIBAS SA 5.81% 0.03%
CICC Financial Trading Limited 18.22% 0.08%
Citigroup Global Markets Limited 5.81% -0.01%
J.P.Morgan Securities PLC 0.00% 0.00%
Societe Generale 169.26% 1.85%

* The swap gross exposure is for investment purpose.

Swap Counterparties
Counterparty Name BNP PARIBAS SA
Place of Incorporation France
Primary Regulator ECB (European Central Bank)
S&P Rating of Counterparty A+
website https://group.bnpparibas/en/
Last Update 2021-09-23
Swap Counterparties
Counterparty Name CICC Financial Trading Limited
Place of Incorporation Hong Kong
Primary Regulator Securities and Futures Commission (SFC)
S&P Rating of Counterparty BBB
website https://www.cicc.com/ir_index.html
Last Update 2021-09-23
Swap Counterparties
Counterparty Name Citigroup Global Markets Limited
Place of Incorporation United Kingdom
Primary Regulator Regulated by FCA and PRA UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)
S&P Rating of Counterparty A+
website https://www.citibank.com/icg/global_markets/uk_terms.jsp
Last Update 2021-09-23
Swap Counterparties
Counterparty Name J.P.Morgan Securities PLC
Place of Incorporation United Kingdom
Primary Regulator UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)
S&P Rating of Counterparty A+
website https://www.jpmorgan.com/country/HK/en/disclosures/legal-entity-information
Last Update 2021-09-23
Swap Counterparties
Counterparty Name Societe Generale
Place of Incorporation France
Primary Regulator Autorité de contrôle prudentiel et de résolution – « ACPR »
S&P Rating of Counterparty A
website https://www.societegenerale.com/en/home
Last Update 2021-09-23

FX Forward Counterparties

As of 23 Sep, 2021
Counterparty Name Gross Exposure* Net Exposure

* The FX forward gross exposure is for currency hedging purpose only.

  • IOPV calculations and delayed market data as shown on CSOP website (the “data”) provided by ICE Data Indices, see ICE Terms of Use, and is updated during HK Exchange trading hours. Powered by Factset. IOPV is indicative and for reference purposes only. The Product is not sponsored, endorsed, sold or marketed by ICE Data Indices, LLC, its affiliates (“ICE Data”) and ICE Data or its respective third party suppliers make no express or implied warranties, and hereby expressly disclaim all warranties of merchantability or fitness for a particular purpose with respect to the iNAV, IOPV, fund or any fund data included therein. In no event shall ICE Data have any liability for any special, punitive, direct, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages. You acknowledge that the data is provided for information only and should not be relied upon for any purpose. HKEX Information Services Limited, its holding companies and/or any subsidiaries of such holding companies endeavour to ensure the accuracy and reliability of the information provided but do 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 omissions.
  • Market prices are provided on a 15-minute delayed basis by ICE.
  • Change of the closing price in HKD indicates change of closing price since previous SEHK trading day. (Source: Bloomberg)
  • The last NAV per Unit in HKD is indicative and for reference purpose only.
  • Additional Participating Dealer(s) will be appointed from time to time.
  • Please refer to HKEX website for the most updated information. Additional Market Maker(s) will be appointed from time to time.

Performance

  1 Month 3 Month 6 Month Year to date Since Inception#
CSOP Hang Seng TECH Index Daily (2x) Leveraged Product (Price Return)*
Hang Seng TECH Index (Price Return)
Leveraged (2x) of Hang Seng TECH Index (Price Return)*

* Where no figure is shown there was insufficient data available.

# Cumulative performance is calculated since the inception date on 9 December 2020.

Accumulative performance of the Product will be presented only after 6 months from its launch.

All dollar amounts are in HKD and all dates are in GMT+8 Time, unless otherwise specified.

Performance is calculated on NAV to NAV basis in HKD without dividend reinvested, taking into account ongoing charges and excluding your trading costs on SEHK.

Past performance information is not indicative of future performance. Investors may not get back the full amount invested.

These figures show by how much the fund increased or decreased in value during the period being shown.

Performance Simulator

Investors should understand that the Leveraged Product aims to provide returns closely correspond to twice (2x) the Daily performance of the Index. It has to rebalance its position on a daily basis in order to achieve its investment objective. As a result of rebalancing, it may not track the multiple return of the Index when it is held for less than a full trading day or overnight.
Below is a performance simulator to allow investors to simulate the performance of the Leveraged Product during the selected period based on historical data. The investor is assumed to hold the Leveraged Product for the entire simulation period. The performance of the Leveraged Product is calculated based on it's NAV. The performance of the Leveraged Product may not reflect the returns that the investor would be able to obtain as it does not capture the premium/ discount of the Leveraged Product, or the trading costs.
Start Date End Date
Simulation Results
CSOP Hang Seng TECH Index Daily (2x) Leveraged Product -
Hang Seng TECH Index -
Leveraged (2x) of Hang Seng TECH Index -

Performance Chart

* The figures are for illustrative purposes only and are not indicative of the actual return likely to be achieved.

Tracking Difference/ Error

Daily Tracking Difference (Daily TD)

Daily TD is the difference between the daily return of a Leveraged Product and the 2x daily performance of the underlying index.

Tracking Error (TE)

Tracking error measures how consistently a Leveraged Product delivers the 2x daily performance of the underlying index. It is the volatility (measured by standard deviation) of that daily return difference.
Tracking Difference Tracking Error
As of 31 May, 2021
Product listing date: 10 December, 2020
Estimated annual average daily tracking difference: -0.03%
Actual Average Daily TD:
Since Listing: -0.02%
As of 31 May, 2021
Product listing Date: 10 December, 2020
No TE data will be displayed during the first year of listing

Graph for Tracking Difference

Product's performance is calculated on an NAV to NAV basis without any reinvestment of distributions.

Daily return of the Leveraged Product and the 2x daily performance of the underlying Index

Actual daily tracking difference

Holdings

Total Net Asset Value (HKD)
(Deemed Total Net Asset Value (HKD))1
Market Value of Swap Contracts (HKD) Swap Contract Exposure (%)2
2,005,979,286.00
(2,005,948,925.00)
3,993,880,611.00 199.10

As of 23 Sep, 2021

1 Deemed Total Net Asset Value incorporates creation/redemption order amount and the rebalancing activity of above date.

2 Swap contract exposure = Market Value of Swap Contract / Deemed Total Net Asset Value

Swap Contracts Holdings

Swap Contracts Name Quantity
HSTECH (SWAP) 12678

As of 23 Sep, 2021

Product Holdings

Holdings Weighting (%)
CASH AND CASH EQUIVALENTS(HKD) 50.58
CSOP HONG KONG DOLLAR MO-HKD 23.03
CSOP US DOLLAR MONEY MAR-USD 9.28
HKTB 09/29/2021 SERIES 182 3.37

As of 23 Sep, 2021

Collateral Holding

As of 23 Sep, 2021

Top 10 Collateral

Holdings Weighting (%)
USD CASH 91.98
HKD CASH 8.02

As of 23 Sep, 2021

All dollar amounts are in HKD. All dates are in GMT+8 Time.

Important information about Dividend out of capital / effectively out of capital

The Manager will have the discretion to determine if and to what extent distributions (whether directly or effectively) will be paid out of capital of the Product.
The Manager may, at its discretion, pay distributions out of capital. The Manager may also, at its discretion, pay distributions out of gross income while all or part of the fees and expenses of the Product are charged to/paid out of the capital of the Product, resulting in an increase in distributable income for the payment of distributions by the Product and therefore, the Product may effectively pay distributions out of capital.
Payments 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. Any distributions involving payment out of or effectively out of the Product’s capital may result in an immediate reduction in the Net Asset Value per Unit and will reduce any capital appreciation for the Unitholders.

Distribution History

Ex-Date Record Date Payable Date Dividend Per Share Dividend Paid Out of Net Distributable Income* for the month Dividend Paid Out of Capital

*“Net distributable income” means the net investment income (i.e. dividend income and interest income net of fees and expenses) attributable to the relevant share class and may also include net realised gains (if any) based on unaudited management accounts. However, “net distributable income” does not include net unrealised gains.

The data in “dividend paid out of net distributable income” and “dividend paid of out of capital” are just for reference only. Please kindly refer to the official dividends information in the dividend per share column.

Warning: Please note that a positive distribution yield does not imply a positive return. Investors should not make any investment decision solely based on information contained in the table above. There is no guarantee of distribution. Investors should read the relevant offering document (including the key facts statement) of the fund for further details including the risk factors.

All dollar amounts are in HKD. All dates are in GMT+8 Time.

Index Provider Disclaimer

The Hang Seng TECH Index is published and compiled by Hang Seng Indexes Company Limited (“HSIL”) pursuant to a licence from Hang Seng Data Services Limited (“HSDS”). The mark and name “Hang Seng TECH Index” is proprietary to HSDS. HSIL and HSDS have agreed to the use of, and reference to, the Hang Seng TECH Index by the Manager and the Trustee and their respective duly appointed agents in connection with CSOP Hang Seng TECH Index Daily (2x) Leveraged Product, BUT NEITHER HSIL NOR HSDS WARRANTS OR REPRESENTS OR GUARANTEES TO ANY BROKER OR HOLDER OF THE CSOP HANG SENG TECH INDEX DAILY (2X) LEVERAGED PRODUCT OR ANY OTHER PERSON (i) THE ACCURACY OR COMPLETENESS OF THE HANG SENG TECH INDEX AND ITS COMPUTATION OR ANY INFORMATION RELATED THERETO; OR (ii) THE FITNESS OR SUITABILITY FOR ANY PURPOSE OF THE HANG SENG TECH INDEX OR ANY COMPONENT OR DATA COMPRISED IN IT; OR (iii) THE RESULTS WHICH MAY BE OBTAINED BY ANY PERSON FROM THE USE OF THE HANG SENG TECH INDEX OR ANY COMPONENT OR DATA COMPRISED IN IT FOR ANY PURPOSE, AND NO WARRANTY OR REPRESENTATION OR GUARANTEE OF ANY KIND WHATSOEVER RELATING TO THE HANG SENG TECH INDEX IS GIVEN OR MAY BE IMPLIED. The process and basis of computation and compilation of the Hang Seng TECH Index and any of the related formula or formulae, constituent stocks and factors may at any time be changed or altered by HSIL without notice. TO THE EXTENT PERMITTED BY APPLICABLE LAW, NO RESPONSIBILITY OR LIABILITY IS ACCEPTED BY HSIL OR HSDS (i) IN RESPECT OF THE USE OF AND/OR REFERENCE TO THE HANG SENG TECH INDEX BY THE MANAGER IN CONNECTION WITH CSOP HANG SENG TECH INDEX DAILY (2X) LEVERAGED PRODUCT; OR (ii) FOR ANY INACCURACIES, OMISSIONS, MISTAKES OR ERRORS OF HSIL IN THE COMPUTATION OF THE HANG SENG TECH INDEX; OR (iii) FOR ANY INACCURACIES, OMISSIONS, MISTAKES, ERRORS OR INCOMPLETENESS OF ANY INFORMATION USED IN CONNECTION WITH THE COMPUTATION OF THE HANG SENG TECH INDEX WHICH IS SUPPLIED BY ANY OTHER PERSON; OR (iv) FOR ANY ECONOMIC OR OTHER LOSS WHICH MAY BE DIRECTLY OR INDIRECTLY SUSTAINED BY ANY BROKER OR HOLDER OF THE CSOP HANG SENG TECH INDEX DAILY (2X) LEVERAGED PRODUCT OR ANY OTHER PERSON DEALING WITH CSOP HANG SENG TECH INDEX DAILY (2X) LEVERAGED PRODUCT AS A RESULT OF ANY OF THE AFORESAID, AND NO CLAIMS, ACTIONS OR LEGAL PROCEEDINGS MAY BE BROUGHT AGAINST HSIL AND/OR HSDS in connection with CSOP Hang Seng TECH Index Daily (2x) Leveraged Product in any manner whatsoever by any broker, holder or any other person dealing with CSOP Hang Seng TECH Index Daily (2x) Leveraged Product. Any broker, holder or other person dealing with CSOP Hang Seng TECH Index Daily (2x) Leveraged Product does so therefore in full knowledge of this disclaimer and can place no reliance whatsoever on HSIL and HSDS. For the avoidance of doubt, this disclaimer does not create any contractual or quasi-contractual relationship between any broker, holder or other person and HSIL and/or HSDS and must not be construed to have created such relationship.

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.

The performance figures contained on this website are for informational purposes only. Past performance is not indicative of future performance. Investment involves risks and the Product's NAV per unit may rise as well as fall. Persons interested in investing in the Product should read the relevant fund offering documents (including the full text of the risk factors stated therein) in detail before making any investment decision.

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

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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.

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