HSBC AMANAH FUNDS HSBC AMANAH FUNDS. HSBC Amanah Global Equity. HSBC Amanah Global Equity. Simplified Prospectus December 2010 June 2011

Transcription

1 Simplified Prospectus December 2010 June 2011 HSBC AMANAH FUNDS HSBC AMANAH FUNDS HSBC Amanah Global Equity HSBC Amanah Global Equity VISA 2011/ PS L'apposition du visa ne peut en aucun cas servir d'argument de publicité Luxembourg, le Commission de Surveillance du Secteur Financier

2 HSBC Amanah Global Equity Important information What does the Sub-Fund invest in? This simplified prospectus contains key information in relation to the Sub-Fund. If you would like more information before you invest, please consult the most recent full prospectus (the "Full Prospectus"). Unless defined in this document, defined terms shall bear the same meaning as in the Full Prospectus. For details about the Sub-Fund's holdings, please see the most recent annual or semi-annual report. HSBC Amanah Funds HSBC Amanah Global Equity (hereinafter the "Sub-Fund") is a sub-fund of HSBC Amanah Funds (hereinafter the "Company"). The Company is a Luxembourg investment company with multiple compartments oganised as a "société anonyme" incorporated on 3 April The Company exists for an unlimited period and qualifies as an undertaking for collective investment in transferable securities under Part I of the Luxembourg law of 20 December 2002 on undertakings for collective investment, as amended (the "2002 Law"). From 1 July 2011, the Company will be governed by Part I of the Luxembourg law of 17 December 2010 relating to undertakings for collective investment (the "2010 Law"). The rights and duties of the investor as well as the legal relationship with the Company are laid down in the Full Prospectus. The Full Prospectus and the periodical reports may be obtained, free of charge, from the Company. Investment objective The Sub-Fund aims to generate capital appreciation over the long term through the implementation of an active management strategy. The investments will consist of a diversified portfolio of global equity securities that comply with Islamic investment principles, as expressed in the section "Investment Policy of the Sub-Funds" of the Full Prospectus. Launch date 30 November 2007 Base currency Who should invest in the Sub-Fund? What are the risks of investing in the Sub-Fund? US Dollar Profile of the typical investor The Sub-Fund is available to all investors. It is designed for investors who want exposure to global equities consistent with the principles of the Shariah (as interpreted and laid down by the Shariah Committee and provided to the board of directors), and who are seeking potentially fairly strong returns over a 5-10 year period, with a fairly high level of volatility. To determine if the Sub-Fund is suitable, it is recommended that the investor consult a stockbroker, bank manager, solicitor, accountant, representative bank or other financial adviser. Investment in any sub-fund carries with it a degree of risk, including, but not limited to, those referred to below. Potential investors should review the Full Prospectus in its entirety prior to making a decision to invest. There can be no assurance that the sub-funds of the Company will achieve their investment objectives and past performance should not be seen as a guide to future returns. An investment may also be affected by any changes in exchange control regulation, tax laws, withholding taxes and economic or monetary policies. Market Risk The value of investments and the income derived from them may fall as well as rise and investors may not recoup the original amount invested by them in the Company. In particular, the value of investments may be affected by uncertainties such as international, political and economic developments or changes in government policies. Foreign Exchange Risk Because the Sub-Fund s assets and liabilities may be denominated in currencies different to the Reference Currency, the Sub-Fund may be affected favourably or unfavourably by exchange control regulations or changes in the exchange rates between the Reference Currency and other currencies. Changes in currency exchange rates may influence the value of the Sub-Fund s Shares, the dividends or interest earned and the gains and losses realised. Exchange rates between currencies are determined by supply and demand in the currency exchange markets, the international balance of payments, governmental intervention, speculation and other economic and political conditions. If the currency in which a security is denominated appreciates against the Reference Currency, the value of the security will increase. Conversely, a decline in the exchange rate of the currency would adversely affect the value of the security. Shariah Restrictions It is possible that the restrictions placed on investment such as the prohibition on the use of interest bearing investments, the donations to approved Charities and the limited universe of stocks available to the Investment Adviser may result in the Sub-Fund performing less well than funds with similar investment objectives which are not subject to Shariah restrictions. HSBC Amanah Global Equity - 2 -

3 Stock Risk The Sub-Fund is exposed to Equity Markets for all or part of its total assets. The value of these assets can therefore rise or fall and investors may not get back all of their original investment. Emerging Markets Risk Economies in emerging markets generally are heavily dependent upon international trade and, accordingly, have been and may continue to be affected adversely by trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which they trade. These economies also have been and may continue to be affected adversely by economic conditions in the countries in which they trade. Share Class Information Distribution Policy The following Share Classes may be issued: A Shares: I Shares: S Shares: W Shares: Z Shares: are available to all investors. are only available to institutional investors within the meaning of article 174 of the 2010 Law (formerly article 129 of the 2002 Law). are available through certain distributors selected by the Global Distributor provided that the investors qualify as institutional investors within the meaning of article 174 of the 2010 Law. S Shares will incur no charges. All the fees and charges allocated to such class of Shares will be paid directly by members or affiliated entities of the HSBC Group. are available through certain distributors selected by the Global Distributor provided that the investors qualify as institutional investors within the meaning of article 174 of the 2010 Law. W Shares will incur no charges. All the fees and charges allocated to such class of Shares will be paid directly by members or affiliated entities of the HSBC Group. are available to investors having entered into a discretionary management agreement with an HSBC Group entity and to investors subscribing via distributors selected by the Global Distributor provided that such investors qualify as institutional investors within the meaning of article 174 of the 2010 Law. The Company issues Distribution and Capital-Accumulation Shares in different Classes: i) Capital-Accumulation Shares are identifiable by a "C" following the sub-fund and Class names and do not pay dividends. ii) Distribution Shares are identifiable by a "D" following the sub-fund and Class names. Dividends will be declared separately in respect of each Class of Shares, if applicable, of each sub-fund by the meeting of shareholders of the relevant Class of Shares of the relevant sub-fund at the end of each financial year. Dividends will be annual and all income (less usual expenses) will be distributed. Dividends will be announced in the financial press. Payment of dividends will be made within six weeks of such declaration to holders of shares in the respective sub-funds at the dividend record date as stated in such resolution. If a dividend has been declared but not paid within a period of five years, the Company is entitled under Luxembourg law to declare the dividend forfeited. In such event, the forfeited dividend will, where possible, be paid to a charity nominated by the Shariah Committee. Dividends will be paid in the relevant currency of denomination or of expression of the sub-fund concerned. An investor having subscribed in the currency of expression may however receive payment in the currency of denomination of the relevant sub-fund if confirmed so in writing to the Company. Fees and Expenses Share Class Management Fee (%)* Custodian Fee (USD) Administrative Services Fee (USD) Total Expense Ratio (%)**** A Shares ** ** 1.88 I Shares n/a n/a n/a n/a S Shares n/a n/a n/a n/a W Shares n/a n/a n/a n/a Z Shares ,556.54*** 29,271.53*** 0.27 *of the Net Asset Value. The Management Company is further entitled to a fee of 0.01% of the Net Asset Value of the Sub-Fund. HSBC Amanah Global Equity - 3 -

4 ** These figures are the fees paid by the AC Share Class for the period from to These fees may in the future be slightly higher or lower than the amounts indicated above. *** These figures are the fees paid by the ZD Share Class for the period from to These fees may in the future be slightly higher or lower than the amounts indicated above, due to the Company value or Shareholder trading activity. **** of the Net Asset Value. Shareholders Expenses Subscription charge: Conversion charge: Redemption charge: Additional charge: Up to 5.54% of the net asset value per Shares ("Offer Price") (for all Classes of Shares). Up to 1.00 % of the value of the shares converted (for all the Classes of Shares). None. None. Taxation of Shareholders / the Company Price publication How to buy / sell /convert Shares Prospective investors should ascertain from their professional advisers the consequences to them of acquiring, holding, redeeming, transferring, selling or converting shares under the relevant laws of the jurisdictions to which they are subject, including the tax consequences and any exchange control requirements. Under current law and practice, the Company is not liable to any Luxembourg income tax, nor are dividends paid by the Company liable to any Luxembourg withholding tax. However, pursuant to the Council Directive 2003/48/EC of 3 June 2003 on taxation of savings income implemented in the Luxembourg law by a law of 21 June 2005, a withholding tax may be applicable as from 1 July The Company is liable to annual tax in Luxembourg ("taxe d'abonnement") calculated at the rate of 0.05 % per annum of its net asset value, and at the rate of 0.01 % per annum of the net asset values of the categories of shares reserved to institutional investors within the meaning of article 174 of the 2010 Law (formerly article 129 of the 2002 Law). This tax is calculated at the end of the quarter to which the tax relates and payable quarterly. No stamp or other tax is payable in Luxembourg in connection with the issue of shares of the Company. The prices of Shares, in the relevant currencies as determined from time to time by the board of directors of the Company, are available at the offices of the Company and the distributors as detailed in the Full Prospectus. The prices are calculated on each Dealing Day on the basis of the net asset value of the relevant Class of Shares or the Sub-Fund in its relevant currencies. The Offer Price for Shares of each Class of the Sub-Fund includes a subscription charge of up to 5.54% of the net asset value per Share. The redemption price is equal to the dealing price. Applications for subscription/redemption/conversion of shares of the Sub-Fund may be made to the Company either directly to the Registrar Agent or through a distributor before a.m. (Luxembourg time) on any Dealing Day as set forth below, in order to be dealt with on that specific Dealing Day. Shares are allocated at the Offer Price per Share calculated at 9.00 a.m. (Luxembourg time) on the Business Day following the Dealing Day such applications are received. A Dealing Day is any day on which banks in Luxembourg are open for normal banking business ("Business Day") (other than days during a period of suspension of dealing in Shares) except a Business Day following the day where stock exchanges and regulated markets in North America were closed for normal trading. The Business Days which are not Dealing Days will be listed in the annual report and semi-annual reports and available at the offices of the Company and of the Representative. Any amendments to such lists are also available at the offices of the Company and of the Representative. Investors buying shares for the first time should complete an application form. Any subsequent purchase or any redemption of shares can be made by letter, fax or telephone; the latter will require confirmation in writing. Instructions to buy, sell and switch Shares should be addressed to: RBC Dexia Investor Services Bank S.A. 14, Porte de France, L-4360 Esch-sur-Alzette, Grand-Duchy of Luxembourg Tel: +(352) , Fax: +(352) HSBC Amanah Global Equity - 4 -

5 Subscription and Redemption Information Share Class Minimum Initial Investment Minimum Holding Class A USD 5,000 USD 5,000 Class I USD 1,000,000 USD 1,000,000 Class S USD 500,000 USD 500,000 Class W USD 100,000 USD 100,000 Class Z USD 1,000,000 USD 1,000,000 Available Dealing Currencies and Share Classes Investors can buy Shares and make their payments either in the Base Currency or in the following Dealing Currency. The necessary foreign exchange transactions are arranged by the Distributor or the Registrar and Transfer Agent for the account of, and at the expense of, the applicant at prevailing exchange rates on the relevant Dealing Day. Share Class Dealing Currency ISIN Codes Class A Class I Euro, US Dollar, Singapore Dollar, GBP Sterling, Swiss Franc AC AD LU LU Euro, US Dollar, Singapore Dollar, GBP Sterling, IC LU Swiss Franc ID LU Class S n/a n/a n/a Class W n/a n/a n/a Class Z Euro, US Dollar, Singapore Dollar, GBP Sterling, ZC LU Swiss Franc ZD LU Annual Performance Class Z % 0.00% 39.67% 15.92% % % Calculation date: 31 December 2010 Currency: Base Currency The historical performance of other Classes is similar but may vary according to the amount of fees charged or as a result of other specific features such as their dividend policy. Historical performance may also vary as a result of the currency denomination or hedging policy applicable in relation to any specific Class. The historical performance of the other Classes is available at the registered office of the Management Company. Please note that past performance is not a guide to future performance. Investors may not get back the full amount invested, as prices of Shares and the income from them may fall as well as rise. HSBC Amanah Global Equity - 5 -

6 Additional Information Management Company HSBC Investment Funds (Luxembourg) S.A. Registrar Agent RBC Dexia Investor Services Bank S.A. 14, Porte de France, L-4360 Esch-sur-Alzette, Grand Duchy of Luxembourg Tel: +(352) Fax: +(352) Global Distributor HSBC Investment Funds (Luxembourg) S.A. United Kingdom Representative HSBC Global Asset Management (UK) Limited 8 Canada Square, London E14 5HQ, United Kingdom Tel: +(44) Fax: +(44) Custodian and Administration Agent / Central Paying Agent RBC Dexia Investor Services Bank S.A. 14, Porte de France, L-4360 Esch-sur-Alzette, Grand Duchy of Luxembourg Investment Adviser Until 30 June 2011: Sinopia Asset Management Immeuble Ile de France, 4, place de la Pyramide, La Défense 9, Puteaux, France From 1 July 2011: HSBC Global Asset Management (France) Immeuble Ile de France, 4, place de la Pyramide, La Défense 9, Puteaux, France Auditors KPMG Audit S.à r.l., Réviseurs d'entreprises Agréés 9, allée Scheffer, L-2520 Luxembourg, Grand Duchy of Luxembourg Registered Office of the Company Supervisory Authority Commission de Surveillance du Secteur Financier Luxembourg, Grand Duchy of Luxembourg Promoter HSBC Group Contact Management Company HSBC Investment Funds (Luxembourg) S.A. Tel: (+352) Fax: (+352) HSBC Amanah Global Equity - 6 -