Important

In case of inconsistencies or conflict between the Chinese and the English versions of the Terms and Conditions and/or the website, the English Version shall prevail.

Important:

• The Funds may invest in different investment instruments, such as equities, bonds and/or other related securities, each Fund with a different investment objective and risk profile.
• The value of the Funds can be extremely volatile according to the change of market situation and could go down within a short period of time.  It is possible that the entire value of your investment could be lost.
• You should not invest in the Funds unless the intermediary who sells it to you has explained to you that the Fund is suitable for you having regard to your financial situation, investment experience and objectives. Investor may also consult independent advisor for professional financial advice. 
• Investors should not invest in the Funds based on this document alone. Before making any investment decision, the investor should read the Fund’s offering documents carefully including the risk factors.

 
Taiping Greater China New Momentum Equity Fund

Taiping Greater China New Momentum Equity Fund (“Equity Fund”) is a sub-fund of Taiping Investment Fund, an open-ended unit trust that seeks to provide investors with medium to long-term capital appreciation. The Equity Fund seeks to invest in listed securities in the Greater China region (which includes listed securities in the PRC, the HKSAR and Macau, but does not include fixed income securities, debt instruments, A shares, listed China A Share Access Products and shares listed on the Taiwan Stock Exchange). It may also invest in financial derivative instruments for hedging purposes only. The Equity Fund may be exposed to the following risks (which are further detailed in the section titled “Risk Factors” in this Explanatory Memorandum), due to its investment policies or the portfolio management techniques employed by the Manager:

• Investing in a relatively concentrated geographical region may result in greater volatility than portfolios which comprise broad-based global investments;
• Investing in emerging markets may involve a greater risk of loss than investing in developed markets due to, among other factors, greater political, tax, economic, foreign exchange, liquidity and regulatory risks;
• Risks associated with investments in financial derivative instruments for hedging purposes include credit risk, liquidity risk and counterparty credit risk; and
• Risks and uncertainties associated with changes in current PRC tax laws, regulations and practice (that may have retrospective effect);
• An investment in the Fund may involve a high degree of risk and may not be suitable for all investors;
• Past performance is not indicative of future results. The value of the Units in the Fund and the income accruing to the Fund, if any, may fall or rise. Investors may not get back the full amount invested;
• Notwithstanding that the investment decision is yours to make, you should not invest in the Fund unless the intermediary who has offered you the Fund has advised you that the Fund is suitable for you and has explained why the investment in the Fund will be consistent with your investment objectives.

Taiping Investment Grade Bond Fund

• Taiping Investment Grade Bond Fund (“Bond Fund”) is a sub-fund of Taiping Investment Fund, an open-ended unit trust that seeks to provide investors with medium to long-term capital appreciation. The Bond Fund seeks to invest in investment grade fixed income instruments in markets worldwide over time. It may also invest in financial derivative instruments for hedging purposes only but not for investment purposes.  The Bond Fund may be exposed to the following risks (which are further detailed in the section titled “Risk Factors” in this Explanatory Memorandum.):
• The Bond Fund’s investment portfolio may fall in value due to any of the key risk factors below and therefore your investment in the Bond Fund may suffer losses. There is no guarantee of the repayment of principal.
• Underlying investments of the Bond Fund may be denominated in currencies other than the base currency of the Bond Fund. Also, a class of Units may be designated in a currency other than the base currency of the Bond Fund. The Net Asset Value of the Bond Fund may be affected unfavorably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.
• The Bond Fund is exposed to the credit / default risk of issuers of the fixed income instruments that the Bond Fund may invest in.
• Investment of the Bond Fund is subject to interest rate risk. In general, the prices of fixed income instruments rise when interest rates fall, whilst their prices fall when interest rates rise.
• The fixed income instruments in certain countries and regions (such as emerging markets) may be subject to higher volatility and lower liquidity compared to more developed markets. The prices of securities traded in such markets may be subject to fluctuations. The bid and offer spreads of the price of such instruments may be large and the Bond Fund may incur significant trading costs.
• The credit rating of a fixed income instrument or its issuer may subsequently be downgraded. In the event of such downgrading, the value of the Bond Fund may be adversely affected. The Manager may or may not be able to dispose of the fixed income instruments that are being downgraded.
• The Bond Fund’s investment in instruments issued or guaranteed by governments may be exposed to political, social and economic risks. In adverse situations, the sovereign issuers may not be able or willing to repay the principal and/or interest when due or may request the Bond Fund to participate in restructuring such debts. The Bond Fund may suffer significant losses when there is a default of sovereign debt issuers.
• Valuation of the Bond 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 Bond Fund.
• Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness of the security and/or issuer at all times.
• Distributions are not guaranteed, and therefore, investors may not receive any distributions from the Bond Fund. Income received for the account of the Bond Fund may be reinvested by the Manager. There is no assurance that an investor will achieve a return on the reinvestment or a return of the original investment amount. 
• Investors should also understand that any declaration of a distribution may not indicate whether the Bond Fund has made profit whether of a capital or income nature.
• Investing in Mainland China securities markets is subject to the risks of investing in emerging markets generally, which may involve increased risks and special considerations not typically associated with investment in more developed markets, such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility.
• The “Dim Sum” bond market is still a relatively small market which is more susceptible to volatility and illiquidity. The operation of the “dim sum” bond market as well as new issuances could be disrupted causing a fall in the Net Asset Value of the Bond Fund should there be any promulgation of new rules which limit or restrict the ability of issuers to raise RMB by way of bond issuances and/or reversal or suspension of the liberalisation of the offshore RMB (CNH) market by the relevant regulator(s).
• The Bond Fund may have significant exposure to Mainland China. The value of the Bond Fund may be more volatile than that of a fund having a more diverse portfolio of investments.
• The value of the Bond Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the Mainland Chinese market.
• RMB is currently not freely convertible and is subject to exchange controls and restrictions.
• Non-RMB based investors are exposed to foreign exchange risk and there is no guarantee that the value of RMB against the investors’ base currencies (for example HKD) will not depreciate. Any depreciation of RMB could adversely affect the value of investor’s investment in the Bond Fund.
• Although offshore RMB (CNH) and onshore RMB (CNY) are the same currency, they trade at different rates. Any divergence between CNH and CNY may adversely impact investors.
• Under exceptional circumstances, payment of redemptions and/or dividend payment in RMB may be delayed due to the exchange controls and restrictions applicable to RMB.
• Risks associated with FDIs include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of an FDI can result in a loss significantly greater than the amount invested in the FDI by the Bond Fund. Exposure to FDIs may lead to a high risk of significant loss by the Bond Fund.
• An investment in the Fund may involve a high degree of risk and may not be suitable for all investors;
• Past performance is not indicative of future results. The value of the Units in the Fund and the income accruing to the Fund, if any, may fall or rise. Investors may not get back the full amount invested;
• Notwithstanding that the investment decision is yours to make, you should not invest in the Fund unless the intermediary who has offered you the Fund has advised you that the Fund is suitable for you and has explained why the investment in the Fund will be consistent with your investment objectives

Risk Warning and Disclaimer:

• Past performance is not indicative of future results. The value of the Units in the Fund and the income accruing to the Fund, if any, may fall or rise. Investors may not get back the full amount invested;
• Notwithstanding that the investment decision is yours to make, you should not invest in the Fund unless the intermediary who has offered you the Fund has advised you that the Fund is suitable for you and has explained why the investment in the Fund will be consistent with your investment objectives
• This website is intended for Hong Kong residents only. Non-Hong Kong residents are responsible for observing all applicable laws and regulations of their relevant jurisdictions before accessing the information contained herein. All information and materials are prepared for general information purposes only, nothing should be regarded as an offer to sell, to subscribe, or provide any recommendation to sell investments.
• Investment involves risks and the value of units may go down as well as up. Past performance is not indicative of future performance. Investors may suffer a loss or benefit from investment return. The fund may not be suitable for all investors.
• 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.
• Certain information contained in this website is obtained and prepared from external sources. Taiping Assets Management (HK) Company Limited makes no guarantees, representation or warranties as to the accuracy or completeness of that information provided by the third parties. Nevertheless, Taiping Assets Management (HK) Company Limited use its best endeavors to ensure the information and sources used are reliable and that the views and opinions provided herein are given in good faith. The data or advice of this website is subject to change without prior notice. Please seek appropriate professional advice if you are in doubt of any information contained in this website.
• This website has not been reviewed by the SFC and is issued by Taiping Assets Management (HK) Company Limited.