1. This is an equity fund invested in equity securities of companies from anywhere in the world which are involved in the entire education ecosystem. The value of the Sub-Fund could be volatile and the Sub-Fund may suffer significant losses.
2. Investing in this Sub-Fund may involve equity risk, market and volatility risk, currency risk and concentration risk. It may also involve risk of investing in education sector e.g. opportunities for discretionary decision making, risk of investing in REITs, risk related to the use of Financial Derivative Instruments (FDI) for hedging and investment purposes, as well as risk of small and medium sized companies.
3. As RMB is not freely convertible, the investment in RMB classes may be adversely affected by the fluctuation in the exchange rate between RMB and other foreign currencies and the liquidity of RMB at the relevant time. In case of sizable redemption requests for the RMB classes, the Manager has the absolute discretion to delay any payment of redemption requests from the RMB classes.
4. For hedged classes, there is no guarantee that the hedging techniques employed by the manager will fully and effectively achieve the desired result and effect. Furthermore the volatility of the hedged classes may be higher than that of the equivalent class denominated in the Sub-Fund’s base currency. If the counterparties of the instruments used for hedging purpose default, Sub-Fund investors of the hedged classes may be exposed to currency exchange risk of the currency of denomination of the relevant class on an unhedged basis and may therefore suffer further losses.
5. For Distribution classes, the Manager may at its discretion determine to pay dividends out of income or capital of the Sub-Fund. In addition, the Manager may at its discretion pay dividends out of gross income while charging / paying all or part of the Sub-Fund’s fees and expenses to the capital of the Sub-Fund, resulting in an increase in distributable income for the payment of dividends by the Sub-Fund, in which case, the Sub-Fund is effectively paying dividends out of capital. Payment of dividends 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. Such distributions may result in an immediate reduction in the net asset value per unit of the Sub-Fund.
6. Investors must read the offering document carefully for further fund details, especially the details of risk factors. Investors should not only base on this marketing material alone to make investment decisions.