| Concentration risk: The fund focuses in investing in a single country, which may give rise to: higher concentration risk than funds that invests in more diversified countries. Emerging countries risk: According to the objectives and investment strategy of the fund, it will: invest in Vietnam, emerging country which may subject to emerging countries risk. Investment in securities of issuers of emerging countries involves special considerations and risks, including the risks associated with investment in emerging countries, such as currency fluctuations, the risks of investing in countries with smaller capital markets, limited liquidity, higher price volatility, different conditions applying to transaction and control and restrictions on foreign investment, as well as risks associated with emerging countries economies, including high inflation and inflation rates, large amounts of external debt as well as political and social uncertainties. Additional risks due to the political, economic and social conditions in Vietnam: As the fund will: invest in Vietnam, investments are currently exposed to risks pertaining to the Vietnamese market including risks brought about by current investment ceiling limits where foreign investors are subject to certain holding limits, and constraints currently imposed on the trading of listed securities where a registered foreign investor may only maintain a trading account with one licensed securities company in Vietnam etc. These may contribute to the illiquidity of the Vietnamese securities market, create inflexibility and uncertainly on the trading environment. According to the objectives and investment strategy of the fund, it may invest in shares of unlisted companies in Vietnam. However, reliance on the financial statements of those companies may not be high, as not all of those companies are legally required to audit their annual financial statements. Nevertheless, investors should note that disclosure supervision in Vietnam is rather weak comparing to developed countries. Risk attached to the use of Financial Derivative Instruments (“FDI”): According to the objectives: and investment strategy of the fund, it may use FDI to the extent permitted under the SFC’s Code on Unit Trusts and Mutual Funds. The use of FDI may involve increased risks and costs. The fund’s ability to use such instruments successfully depends on its manager’s or sub-investment manager’s ability to accurately anticipate movements in stock prices, interest rates, currency exchange rates or other economic factors and the availability of liquid markets. If the manager’s or investment advisor’s anticipations are wrong, or if the derivatives do not work as anticipated, the fund could suffer greater losses than if the fund has not used the derivatives. Besides, investment in FDI is subject to additional risks, including credit risk of the issuer, liquidity risk, counterparty risk and valuation risk. Performance fee risk: Any performance fee charged to the fund will not be calculated on a unitby-: unit basis and no equalisation or series of units provisions will apply. As such, the performance fee payable may not reflect the individual performance of the units in question. Equity risk: Investment in common stocks and other equity securities are subject to market risk: that historically has resulted in greater price volatility than experienced by bonds and other fixed income securities. |