Change in the name of the funds in the Valor range

26 May 2010

HSBC Private Wealth Managers, the management company of HSBC Private Bank France, informs unitholders of the change in the name of the funds in the Valor range.

Old name	New name
Mod Valor A	HPWM Select 25
Integral Valor A	HPWM Select 50
Action Valor A	HPWM Select 75
Dyna Valor	HPWM Select 100
Central Valor A	HPWM Select Opportunités
T Multivalor	T Multiselect

These changes come into effect on 26 May 2010.

In addition, from 26 May 2010, other changes come into force on FCP Central Valor A, which we invite you to consult. To find out more...

Fund prospectus are available on written request from the management company’s registered office: 109 avenue des Champs-Elysées, 75419 Paris Cedex 8

This update is available in full in PDF format.