Pictet Funds Hong Kong

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The compartment’s investments are concentrated on four environmental themes. These four themes are invested in the global agriculture, clean energy, timber and water markets. Any fall in the value of one of these sectors may have an adverse impact on the value of the compartment. Events that can lead to a fall of value of companies we invest in are detailed below. Agriculture: a government’s decision to suddenly decrease the level of subsidies can lower the level of profitability of listed agricultural companies which have operations in the country. Clean Energy: decrease in subsidies induced by government’s capital allocation may reduce the growth prospects of alternative energy companies, as 1it can delay the establishment of new power production facilities. This could lower the revenues and the returns of listed companies in the respective field. Timber: lumber prices usually decline when the number of new housing in the United States is below expectations. Companies with strong exposure to lumber could suffer from a lower expected demand. Water: companies active in markets with regulated water tariffs may suffer from decreasing water tariffs, which would lower the revenues and the returns of listed water operators. Moreover, during the budget process, political forces may put priorities on different projects such as household consumption incentives, transportation infrastructure projects, education. Water infrastructure project may be given a lower priority and be delayed. The growth outlook of water technology companies will then be reduced. Additional disclosure for PICTET – High Dividend Selection (“High Dividend Selection”) In addition to the investment policy set out in the Prospectus, High Dividend Selection provides exposure to companies that distribute high dividend yields. Companies eligible for investment by High Dividend Selection must have, at the time of purchase, an annual dividend yield which is higher than that of the average dividend yield of the applicable reference market, or, of at least 3%, whichever is lower. The “reference market” refers to the sectors of the global equities universe having a market capitalisation above USD 1 billion. Additional disclosure for PICTET – Emerging Markets High Dividend The compartment’s objective is to invest mainly in shares and similar securities (including American depositary receipts and global depositary receipts) of companies whose headquarters are located in and/or that conduct their main activity in emerging countries and for which it is expected that dividends are higher or greater than those of their reference market (represented by the MSCI Emerging Markets Index). The compartment will not use FDI extensively for investment purposes. Additional disclosure for PICTET – Asian Equities Ex Japan The compartment uses various selection criteria (e.g. cash flow returns and capacity replacement value) in its selection of investments, which will be afforded greater or lesser focus depending upon current economic conditions. Additional disclosure for PICTET – Global Emerging Debt The compartment uses various selection criteria (e.g. credit quality of the issuer and level of liquidity) in its selection of investments, which will be afforded greater or lesser focus depending upon current economic conditions. Additional disclosure for Distribution shares Distribution shares (e.g. dy shares) will be entitled to a dividend as decided by the Annual General Meeting. However, in respect of dm shares, whilst there is no guarantee, it is intended that a monthly dividend may be distributed. Apart from the payment of distribution out of the net investment revenue, the Fund may at its discretion determine such distributions may be paid from capital of the relevant compartment. Investors should be aware that distributions, including distributions out of capital, will result in an immediate decrease in the NAV per distribution share of the relevant compartment. Besides, investors should note that the payment of dividends out of capital represents a return or withdrawal of part of the amount they originally invested and/or any capital gains attributable to the original investment. The composition of dividends (i.e. relative amounts paid from net distributable income and capital) for the last 12 months can be obtained either through the website www.pictetfunds.hk ★ or from the Hong Kong Representative on request. The Fund may amend the dividend policy subject to obtaining the SFC’s prior approval and by giving not less than one month’s prior notice to Hong Kong shareholders. ★ The website has not been reviewed by the SFC. 10
Additional disclosure for compartments investing in emerging countries Compartments which are not restricted to geographical limits on its investments may invest in shares of companies that conduct activities in emerging or developing countries such as, but not limited to, China, Brazil and Russia. Where a compartment is permitted to invest in China, the aggregate exposure of the compartment to China A-Shares and China B-Shares will not exceed 10% of its NAV. At least one month’s prior notice will be given to Hong Kong shareholders if any of the compartments intends to invest more than the above-stated percentage, and the Hong Kong offering documents will be updated accordingly. Additional disclosure for compartments investing in structured products Although each of the compartments may invest in structured products, such investments will not form a substantial part of each compartment’s portfolio. 11
Page 1: www.pictetfunds.hk Pictet Hong Kong
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investors and for the compartments
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and/or other Undertakings for Colle
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8) The Fund may not invest more tha
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c) any other very liquid asset, con
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Annex 1: Fixed-income compartments
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2. PICTET - USD GOVERNMENT BONDS In
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3. PICTET - SHORT-TERM MONEY MARKET
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6. PICTET - EUR CORPORATE BONDS Inv
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7. PICTET - GLOBAL EMERGING DEBT In
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PICTET - GLOBAL EMERGING DEBT Type
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Payment value date for subscription
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sequently, the accounting and finan
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10. PICTET - EUR SHORT MID-TERM BON
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11. PICTET - USD SHORT MID-TERM BON
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12. PICTET - CHF BONDS Investor typ
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13. PICTET - EUR GOVERNMENT BONDS I
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14. PICTET - EUR INFLATION LINKED B
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15. PICTET - EMERGING LOCAL CURRENC
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Ownership of securities In most of
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16. PICTET - ASIAN LOCAL CURRENCY D
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of providers in some countries may
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the compartment. In addition, due t
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18. PICTET - SHORT-TERM MONEY MARKE
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19. PICTET - LATIN AMERICAN LOCAL C
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Remittance of orders The shares may
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Shares not yet issued that may be a
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PICTET - SOVEREIGN SHORT-TERM MONEY
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Ownership of securities In most of
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23. PICTET - EUR CORPORATE BONDS EX
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24. PICTET - EUR SHORT TERM HIGH YI
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PICTET - EUR SHORT TERM HIGH YIELD
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By analogy, investments in undertak
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PICTET - GLOBAL BONDS FUNDAMENTAL T
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Manager: PAM Ltd Consolidation curr
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27. PICTET - EMERGING LOCAL CURRENC
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Although the Board of Directors and
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Annex 2: Equity compartments This A
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29. PICTET - SMALL CAP EUROPE Inves
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30. PICTET - EMERGING MARKETS Inves
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Redemption By 3:00 pm on the Bankin
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ture of the stock markets in the co
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PICTET - EUROPE INDEX Type of share
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PICTET - USA INDEX Type of share Ac
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PICTET - EUROPEAN SUSTAINABLE EQUIT
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PICTET - JAPAN INDEX Type of share
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Calculation of the NAV The effect o
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Frequency of NAV calculations Each
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PICTET - PREMIUM BRANDS Type of sha
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the Mauritius Offshore Business Act
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42. PICTET - JAPANESE EQUITY OPPORT
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43. PICTET - ASIAN EQUITIES EX JAPA
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Payment value date for subscription
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PICTET - JAPANESE EQUITY SELECTION
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PICTET - GENERICS Type of share Act
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Calculation of the NAV The effect o
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PICTET - EUROLAND INDEX Type of sha
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PICTET - US EQUITY GROWTH SELECTION
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invests may fluctuate significantly
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53. PICTET - TIMBER Investor type p
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54. PICTET - AGRICULTURE Investor t
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55. PICTET - GLOBAL MEGATREND SELEC
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56. PICTET - US EQUITY VALUE SELECT
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57. PICTET - ENVIRONMENTAL MEGATREN
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58. PICTET - HIGH DIVIDEND SELECTIO
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59. PICTET - BRAZIL INDEX Investor
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60. PICTET - CHINA INDEX Investor t
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61. PICTET - INDIA INDEX Investor t
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62. PICTET - LATAM INDEX Investor t
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63. PICTET - RUSSIA INDEX Investor
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64. PICTET - EMERGING MARKETS HIGH
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65. PICTET - EMERGING MARKETS SUSTA
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PICTET - EMERGING MARKETS SUSTAINAB
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PICTET - QUALITY EUROPEAN EQUITIES
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Remittance of orders The shares may
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Conversion The most restrictive tim
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71. PICTET - ABSOLUTE RETURN GLOBAL
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72. PICTET - CONVERTIBLE BONDS Inve
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In application of the High Water Ma
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in this compartment presents greate
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74. PICTET - MULTI ASSET GLOBAL OPP
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Performance fee: The manager will r
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Pictet Funds Hong Kong

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