Value Partners, as a responsible investment manager, provides crucial information to ensure all Hong Kong residents who are interested in our funds fully understand the associated risks and legal restrictions. Before proceeding to explore our investment opportunities, please carefully read this important disclaimer. It is designed to protect both you and Value Partners by outlining the terms and conditions of accessing investment information on this website.
Understanding Investment Risks with Value Partners
Investing with Value Partners involves inherent risks. The funds featured on this website invest in a diverse range of financial instruments, including both equities and bonds. It is important to understand that each fund operates with unique investment strategies, leading to varied underlying investments and exposures to different levels of risk.
Specifically, some Value Partners funds target emerging markets. These markets, while offering potential for high growth, carry risks that are often amplified compared to developed markets. These heightened risks include:
- Sharp Price Movements: Emerging markets can experience greater market volatility, leading to rapid and significant price fluctuations in investments.
- Liquidity Risk: Buying or selling investments in emerging markets may be more challenging due to lower trading volumes, potentially impacting the ability to access your funds when needed.
- Currency Risk: Fluctuations in exchange rates between the Hong Kong dollar and emerging market currencies can negatively impact the value of your investments.
Furthermore, certain Value Partners funds may concentrate their investments in a single sector or industry. While this focused approach can potentially yield higher returns, it also exposes these funds to greater volatility compared to more diversified investment portfolios. Economic downturns or industry-specific challenges can have a more pronounced negative impact on such concentrated funds.
A number of Value Partners funds invest in securities directly linked to the China markets. Investing in China carries its own set of specific risks, including:
- Repatriation Risk: There is a risk that regulations could change, potentially restricting or delaying the ability to move capital out of China.
- Uncertainty of Taxation Policies: Tax laws and their interpretation in China can be subject to change, creating uncertainty for investors.
Value Partners also offers funds that may invest in debt securities with below investment grade ratings, unrated securities, and high-yield debt. These types of investments, while potentially offering higher returns, are associated with increased risks:
- Greater Liquidity Risk: These securities may be less liquid, making them harder to sell quickly at a desired price.
- Default Risk: Issuers of lower-rated debt have a higher risk of failing to make interest payments or repay the principal.
- Price Sensitivity to Creditworthiness: Changes in the issuer’s financial health can lead to significant price fluctuations in these debt securities.
It’s also crucial to recognize that investments in fixed income securities, a component of many Value Partners funds, are susceptible to interest rate risk. Changes in interest rates can negatively impact the value of fixed income investments.
Value Partners wants to ensure transparency regarding fund expenses. It is possible that all or part of a fund’s fees and expenses may be paid from the fund’s capital. This practice can lead to an increase in distributable income, but it also effectively represents a distribution out of capital. Similarly, in certain circumstances, dividends may also be paid out of capital. Investors should be aware that this is considered a partial return of their original investment or capital gains, and it may result in an immediate decrease in the net asset value per share.
Important Note: It is possible to lose the entire value of your investment with Value Partners. Therefore, a thorough understanding of the risks involved is paramount.
For detailed information about specific risks and fund operations, please refer to the offering documents of each respective fund. Your investment decisions should not be based solely on the information presented on this website.
Website Information for Hong Kong Residents Only
The information provided on this website is exclusively intended for residents of Hong Kong. Value Partners is committed to complying with all applicable legal and regulatory requirements in every jurisdiction. Individuals who are not residents of Hong Kong must ensure they are fully compliant with the laws and regulations of their own jurisdictions before accessing any information contained within this website. It is your responsibility to be aware of and adhere to all applicable laws and regulations in your relevant jurisdiction.
No Investment Offer and Local Restrictions
Nothing on this website should be interpreted as a solicitation to buy or sell, or an offer or recommendation to acquire or dispose of any security, commodity, or investment, or to engage in any other transaction. The content on this website is not intended as investment advice, nor is it a recommendation or representation regarding the suitability or appropriateness of any Value Partners product or service. It is not an offer to buy or sell, nor is it a solicitation of an offer to buy or sell any security, financial product, or instrument, or to participate in any particular trading strategy. Value Partners strongly advises investors to seek independent financial and tax advice from qualified professionals before making any investment decisions.
The distribution and use of information on this website are not intended for any person or entity in any jurisdiction or country where such distribution or use would violate local laws or regulations. By accessing this website, you are doing so on your own initiative and are responsible for ensuring compliance with all applicable local laws and regulations. This website is not directed at individuals in any jurisdiction where its publication or availability is prohibited due to their nationality, residence, or any other reason. Individuals subject to these restrictions must not access this website.
Accuracy of Information
Value Partners has taken considerable measures to ensure that the information presented on this website is accurate, current, complete, and suitable for its intended purpose. We also strive to comply with all relevant legislation and regulations, including, where applicable, the laws of your country of residence as of the date of publication. However, despite our best efforts, errors or omissions may occur due to circumstances beyond our control. Therefore, Value Partners does not provide any warranty or representation regarding the accuracy, validity, or completeness of the information on this website, and we accept no liability for any inaccuracies or omissions. We strongly encourage you to conduct your own thorough due diligence and investigations and not rely solely on the information provided here. Any action taken based on the information on this website is done entirely at your own risk.
Please be aware that information posted on this website is current only as of its initial posting date and may no longer be accurate or complete when you view it. Value Partners cannot guarantee that the content will remain accurate, complete, and current at all times. To the extent that any information on this website pertains to a third party, it is provided by that third party, and Value Partners assumes no responsibility for its accuracy or completeness. All content on this website is subject to change without notice.
Any opinions or forecasts expressed on this website are based on sources believed to be reliable by Value Partners. However, we do not guarantee or warrant their current validity, accuracy, or completeness. These opinions represent the views of Value Partners at the time of publication, reflecting prevailing market conditions and certain assumptions that may not prove to be valid. They are subject to change and should not be considered as definitive or relied upon by website users.
Risk Warning Reminder from Value Partners
Investing with Value Partners always involves risks. Past investment performance is not indicative of future results. The value of investments and the income derived from them can fluctuate, both upwards and downwards, and you may not recover your original investment amount. We urge you to carefully review the offering documents for detailed information, including a comprehensive discussion of risk factors. It is essential to fully understand the risks associated with any investment and to consider your own investment objectives and risk tolerance level. If you have any doubts, please seek advice from an independent financial professional.
