Investing for a sustainable future

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Investment in emerging markets may involve certain additional risks, which may not be typically associated with investing in more established economies and/or securities markets. Such risks include (a) the risk of nationalization or expropriation of assets; (b) economic and political uncertainty; (c) less liquidity in so far of securities markets; (d) fluctuations in currency exchange rate; (e) higher rates of inflation; (f) less oversight by a regulator of local securities market; (g) longer settlement periods in so far as securities transactions and (h) less stringent laws in so far the duties of company officers and protection of Investors.

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suitability of the solicitation and/or recommendation. In all other cases, you are responsible for assessing and satisfying yourself that any investment or other dealing to be entered into is in your best interest and is suitable for you.

In all cases, we recommend that you make investment decisions only after having carefully reviewed the relevant investment product and offering documentation, HSBC’s Standard Terms and Conditions, the “Risk Disclosure Statement” detailed in the Account Opening Booklet, and all notices, risk warnings and disclaimers contained in or accompanying such documents and having understood and accepted the nature, risks of and the terms and conditions governing the relevant transaction and any associated margin requirements. In addition to any suitability assessment made in Hong Kong by HSBC (if any), you should exercise your own judgment in deciding whether or not a particular product is appropriate for you, taking into account your own circumstances (including, without limitation, the possible tax consequences, legal requirements and any foreign exchange restrictions or exchange control requirements which you may encounter under the laws of the countries of your citizenship, residence or domicile and which may be relevant to the subscription, holding or disposal of any investment) and, where appropriate, you should consider taking professional advice including as to your legal, tax or accounting position. Please note that this information is neither intended to aid in decision making for legal or other consulting questions, nor should it be the basis of any such decision. If you require further information on any product or product class or the definition of Financial Products, please contact your Relationship Manager.

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of performance statistics, however, they have a negative impact on it. If, for

example, the initial investment is 1.000 EUR, and the transactions costs for buying and selling are 1,00 % each time, and the custody fee is 0,50 % per year (for our actual fee structure please see our schedule of prices & services), the performance over a 5-year-investment-horizon would be reduced 45 EUR

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In the UK, the Financial Conduct Authority has established a sustainable investment labelling and disclosure regime (UK SDR) for UK based funds under which funds may apply one of four sustainability labels if they meet certain strict criteria: Sustainability Focus, Sustainability Improvers, Sustainability Impact and Sustainability Mixed Goals. If a fund subject to UK SDR does not qualify for and apply a label it cannot use “sustainable”, “sustainability” and “impact” terms in its name and may only use certain other sustainability related terms that imply it has sustainable characteristics if it meets certain sustainability related requirements. It is important to note that UK SDR labels and HSBC’s ESG and SI classifications are not equivalent or comparable. The UK SDR seeks to provide a framework to assist retail investors identify funds that aim to achieve positive sustainability outcomes. The HSBC ESG and SI classifications cover a much broader product range, including single line equities and fixed income investments, non-UK based funds and structured products and are focused to a large extent on identifying investments with greater resilience to ESG-related risks because of the way those risks are managed. Whilst there may be some overlap in the sense that an investment which is resilient to ESG-related risks could indirectly contribute to positive ESG outcomes, this will not always be the case. Just because an overseas fund has been allocated an HSBC ESG and SI classification does not mean it would meet the sustainability outcome criteria necessary to qualify for a UK SDR label or otherwise have sustainable characteristics that would allow it to be promoted as sustainable if it was based in the UK. To avoid any confusion between the two different approaches, all UK based funds are classified as “Not Assessed” under the HSBC ESG and SI classification framework. This applies whether or not the fund qualifies for a sustainability label under UK SDR [More information about the UK sustainable investing labelling and disclosure regime can be found on the FCA’s website at https://www.fca.org.uk/consumers/identifying-sustainable-investments.