Funds

Change of Cut-Off - L Select - Europe Cash Fund

In order to facilitate the settlement/delivery procedures on the day when subscription, redemption or conversion requests are received, the official cut-off for L Select - Europe Cash Fund will be moved from 2:00 p.m. to the earlier time of 12 noon as from 16 July 2010. 

The internal cut-off in our systems will be 11:30 a.m.

This press release, provided for information only, is issued for the attention of journalists and does not represent an advertisement or offer to buy or sell. Please refer to our general terms and conditions for further details and information.

Press release

HSBC Private Bank France launches new equity fund: HPWM Option Patrimoine
This fund combines the management performance of the Patrimoine mutual fund with variable hedging against a general fall in the European equities market.

HPWM Option Patrimoine is a UCITS designed to meet the current expectations of investors who are maintaining an extremely cautious attitude to financial market trends.
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HSBC Private Wealth Managers, the management company of HSBC Private Bank France, has devised a portfolio fund product exposed to the French equity market and benefiting from variable hedging against the general downturn in European equity markets.

HPWM Option Patrimoine is a feeder fund of FCP Patrimoine (master fund). It is fully invested in FCP Patrimoine and implements, via a strategy of options on an index, variable hedging against risks associated with European equity markets.
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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.
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From 26 May 2010, the following changes come into force on FCP Central Valor A
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Transfer of the Europe Cash Fund and Europe Defender Fund compartments of the France Luxembourg Sicav to the L Select Sicav
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Merger of the G7 Valor and the L Première mutual funds on 4 May 2010 (based on the net asset value on 3 May 2010).

For both mutual funds, subscription/redemptions will be suspended between 30 April 2010 (inclusive) and 4 May 2010 (inclusive). In addition, the L Première mutual fund will be decimalised on 3 May 2010 as part of the merger operation.

Merger of Grande Europe, European Union Fund and New Europe Small Caps as at April 17th, 2009.

In response to the constantly evolving economic and financial environment, HSBC Private Wealth Managers is reconfiguring its range of equity funds while seeking to continuously meet its clients' needs and requirements.
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Investors' attention is drawn to the fact that the current assets of the SICAV New Europe Small Caps are below 4,000,000 euros as at March 10th, 2009.

Consequently, in accordance with article 411-14 of the general regulations of the AMF (French Financial Market Authority), redemptions of shares in the SICAV are suspended while the current assets remain below 4,000,000 euros.

The SICAV New Europe Small Caps’ Corporate Board has proposed a planned merger with the SICAV Grande Europe (Share A). This operation has received AMF approval on March 3th, 2009 and will be submitted for approval of the SICAV’s extraordinary general meeting to be held on April 10th, 2009 for the effective merger on April 17th, 2009.

Commission de Surveillance du Secteur Financier - The Madoff case Press Release

As stated in the press release of 6 February 2009, the CSSF received, as requested, a written position of UBS (Luxembourg) S.A. (“UBSL”) on 20 February 2009, on the inquiry carried out by the CSSF regarding mainly UBSL's capacity as the depositary bank for the investment fund LUXALPHA SICAV (the “SICAV”) the first results of which were transmitted to UBSL on 6 February 2009...

Valor Funds : Split operation - Tax information

In addition to the information dated January 12th 2009, the shareholders of the Valor Funds share 'A' and share 'SP' are informed that the French Tax Administration has confirmed in writing to the French Association of Financial Managment on January 23rd 2009 that the split operations implemented in accordance with the creation of the A Funds and the SP Funds benefit from the tax deferral provided for in article 150-0 B of the French General Tax Code.

The liquidation of the sub-fund L Multi Select - Global Bond Fund will take place on 16 th February 2009. The current assets of the sub-fund have decreased to an amount which will not allow it to carry out its multimanagement strategy. Subscriptions will be suspended as of 20 January 2009. Redemptions will continue until 16 February 2009. At this date, the entirely of shares will be definitively repurchased.

Calculation of the purchase NAV of the funds splitted on January 7, 2009

The split operations that have been implemented should benefit from tax deferral provided for in article 150-0 B of the French General Tax Code for the individuals having their tax residence in France...
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Valor Funds : Information regarding the decision to split the 4 Funds Action Valor, Central Valor, Integral Valor and Mod Valor, the justification of this decision and the operational procedure.

By notice dated December 18, 2008, HSBC Private Wealth Managers has announced the temporary suspension of the valuations and of the subscriptions/redemptions of the shares of 4 Valor Funds (hereinafter the Funds) as from the Net Asset Value (hereinafter NAV) dated December 12, 2008 (inclusive), in accordance with article L. 214-30 of the French Financial and Monetary Code and with article 3 of the Fund Regulations.
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