Prospectus - April 2013 - Pictet Funds Hong Kong

PICTETSICAV incorporated under Luxembourg law. The former name of “Pictet Funds (LUX)” was changed to “Pictet”on 20 April 2010.The shares of Pictet are listed on the Luxembourg Stock Exchange. The Board of Directors may decide whichsub-classes of shares are to be listed.No one is authorised to give any information other than that contained in this prospectus or in documentsreferred to herein. The French text alone is legally binding, except for specific requirements in passages fromauthorities with whom the fund may have been registered.PREAMBLEIf you have any doubts whatsoever as to the contents of this document or if you intend to subscribe to sharesof Pictet (“the Fund”), you should consult a professional adviser. No one is authorised to provide information orgive presentations regarding the issue of shares of the Fund (“shares”) that are not contained in or referred toin this document or the reports annexed to it. Neither the distribution of this document, nor the offer, issue orsale of shares shall constitute a presentation that the information contained in this document is correct on anyparticular date after the date of the document. No person receiving a copy of this document in any country maydeal with it as if it constituted a call for funds unless, in that particular country, such a call could be legally madeto the person without him or her having to comply with registration requirements or other legal terms. Anyonewishing to buy shares is responsible for ensuring compliance with the laws of the country in question with regardto the acquisition of shares, including obtaining any government approval or other authorisations that maybe required, and complying with any other formalities that must be adhered to in that country.The shares have not been and will not be registered in accordance with the 1933 United States Securities Act asamended (the “1933 Act”), or registered or qualified in accordance with the laws on transferable securities in agiven State or any other political subdivision of the United States. Shares may not be offered, sold, transferred ordelivered either directly or indirectly in the United States or to, or on behalf of, or for the benefit of United Statespersons (as defined in Regulation S of the 1933 Act), except in certain transactions exempt from the registrationprovisions of the 1933 Act and any other laws of a State or regarding transferable securities. Shares are offeredoutside the United States on the basis of an exemption from the registration regulations of the 1933 Act as statedin Regulation S of that Act. Shares are also offered in the United States to accredited investors within the meaningof Rule 501(a) of the 1933 Act on the basis of exemption from the registration regulations of the 1933 Act asstated in Rule 506 of that act. The Fund has not been and will not be registered pursuant to the 1940 United StatesInvestment Company Act (the “1940 Act”) and is, therefore, limited in the number of economic shareholders whomay be United States persons. The Articles of Association contain clauses intended to prevent United Statespersons from holding shares in circumstances that could result in the Fund infringing US law, and to enable theDirectors to conduct a forced redemption of those shares that the Directors deem necessary or appropriate inorder to ensure compliance with US law. Moreover, any certificate or other document related to shares issuedto United States persons shall bear a note to the effect that such shares have not been registered or qualified inaccordance with the 1933 Act and that the Fund has not been registered in accordance with the 1940 Act, andshall refer to certain transfer and sale restrictions.Potential investors are warned that investment in the Fund entails certain risks. Investments in the Fund aresubject to the usual risks concerning investments and, in some instances, may be adversely affected by politicaldevelopments and/or changes in local laws, taxes, foreign exchange controls and exchange rates. Investing inthe Fund may entail certain investment risks, including the possible loss of capital invested. Investors should beaware that the price of shares may fall as well as rise.The original French text is the legally binding version. 39