1576 南方Ａ５０ 2019-10-28 16:45:00
有価証券貸付取引に関する方針の改定について [pdf]
2019 年 10 月 28 日
各位
管理会社名 中国南方アセット・マネジメント・リミテッド
代表者名 最高経営責任者 丁晨
（銘柄コード 1576）
問合せ先 アンダーソン・毛利・友常法律事務所
担当者 弁護士 飛岡 和明
（TEL 03-6775-1000）
有価証券貸付取引に関する方針の改定について
弊社は、2019 年 10 月 25 日付けで、香港において、有価証券貸付取引に関する方針の改
定に関するプレスリリースを行いました。以下はその抄訳です。
南方 FTSE 中国 A 株 50 ETF（「本香港 ETF」
）の資産運用会社である中国南方アセット・
マネジメント・リミテッド（ ）は、2019 年 11 月 25 日（
「資産運用会社」 「効力発生日」）
付けで本香港 ETF の有価証券貸付取引に関する方針の改定を実施する旨、受益者に通知
します。
本香港 ETF の有価証券貸付取引に関する方針の改定
資産運用会社は、改正ユニット・トラスト及びミューチュアル・ファンド規約（Code on
Unit Trusts and Mutual Funds）の第 7.32 条ないし第 7.38 条（証券金融取引に関する規
定）の更新に伴い、効力発生日付けで、本香港 ETF の現行の有価証券貸付取引に関する方針
を以下のとおり改定することを決定しました。
現行の 効力発生日以降の
有価証券貸付取引に関する方針 有価証券貸付取引に関する方針
資産運用会社は、本香港 ETF に代わって、 資産運用会社は、本香港 ETF に代わって、
本香港 ETF の純資産価額の 30％を上限とし 本香港 ETF の純資産価額の 50％を上限水準
て有価証券貸付取引を締結する場合があり として（予想される水準は約 20％）有価証
ます。 券貸付取引を締結する場合があります。
本香港 ETF は、有価証券貸付取引の一環と 本香港 ETF は、有価証券貸付取引の一環と
して、
貸付有価証券の価額の 105％相当の現 して、貸付有価証券の価額の 100％相当の
金担保（利息、配当及びその他の付随的な 現金 及び／又は非現金 担保（利息、配当及
権利を含みます。 の受入れを義務付けられ びその他の付随的な権利を含みます。 の受
） ）
ます。保管会社は、当事者間の合意に従い、 入れを義務付けられます。担保は日次ベー
現金のみを担保として受け入れます。担保 スで時価評価され、受託会社又は受託会社
は日次ベースで時価評価され、保管会社に が任命する代理人 によって保管されます。
よって保管されます。
資産運用会社は受入担保の再投資は行いま 受入非現金担保については、売却、再投資
せん。 又は質権設定を行うことはできません。受
入現金担保の再投資については、目論見書
（訳注：香港において開示されている本香
港 ETF 受益証券に関する目論見書をいいま
す。以下同様とします。 の第 1 部
） （Part 1）
別紙 1
（Schedule 1） 「担保
の （Collateral）
」
の項に定める要件が適用されます。
上記に伴い、本香港 ETF の目論見書に含まれる該当するリスク開示の内容を更新します。
資産運用会社は、本香港 ETF の有価証券貸付取引に関する方針の改定が本香港 ETF の最
善の利益に適うものと考えています。また、本書に記載の変更により、既存の投資家の権利
又は利益が著しく損なわれることはなく、変更後の本香港 ETF の全体的なリスクに重大な
変更又は増加が生じることもありません。この変更に伴い発生する費用及び／又は経費は
ありません。
以上
IMPORTANT:
Hong Kong Exchanges and Clearing Limited ("HKEX"), The Stock Exchange of Hong Kong
Limited ("SEHK"), Hong Kong Securities Clearing Company Limited ("HKSCC") and the
Securities and Futures Commission ("SFC") take no responsibility for the contents of this
Announcement, make no representation as to its accuracy or completeness and expressly
disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole
or any part of the contents of this Announcement.
SFC authorisation is not a recommendation or endorsement of a scheme nor does it guarantee
the commercial merits of a scheme or its performance. It does not mean the scheme is suitable
for all investors nor is it an endorsement of its suitability for any particular investor or class of
investors.
This document is important and requires your immediate attention. If you are in any doubt
about the contents of this Announcement, you should seek professional advice.
Investment involves risks which may result in significant loss as there is no guarantee on
investment returns.
The Manager accepts full responsibility for the accuracy of the information contained in this
Announcement and confirms, having made all reasonable enquiries, that to the best of its
knowledge and belief, there are no other facts the omission of which would make any statement
misleading.
CSOP ETF SERIES (the "Trust")
(a Hong Kong umbrella unit trust authorized under
Section 104 of the Securities and Futures Ordinance (Cap. 571) of Hong Kong)
CSOP FTSE China A50 ETF
Stock Codes: 82822 (RMB counter) and 02822 (HKD counter)
CSOP SZSE ChiNext ETF
Stock Codes: 83147 (RMB counter) and 03147 (HKD counter)
CSOP MSCI China A Inclusion Index ETF
Stock Codes: 83149 (RMB counter) and 03149 (HKD counter)
ICBC CSOP S&P New China Sectors ETF
Stock Codes: 03167 (HKD counter), 83167 (RMB counter) and 9167 (USD counter)
ANNOUNCEMENT
Change of Securities Lending Transactions Policy
1
CSOP Asset Management Limited 南方東英資產管理有限公司, manager of the Trust (the
"Manager"), wishes to inform Unitholders of CSOP SZSE ChiNext ETF (the "Sub-Fund")
that the addition of securities lending transactions in the investment objective and strategy,
and Unitholders of CSOP FTSE China A50 ETF, CSOP MSCI China A Inclusion Index
ETF and ICBC CSOP S&P New China Sectors ETF (collectively, the "Sub-Funds") that
the amendments to the securities lending transactions policy of the Sub-Funds, with effect
from 25 November 2019 (the “Effective Date”).
Unless otherwise defined, all capitalised terms shall have the same meaning as that in the
Prospectus of the Trust.
Addition of Securities Lending Transactions in Investment Objective and Strategy of
the Sub-Fund
In order to enhance efficient portfolio management, the Manager has decided to add
securities lending transactions in the investment objective and strategy of the Sub-Fund as
following, with effect from the Effective Date:
The Manager may, on behalf of the Sub-Fund, enter into securities lending transactions,
with the maximum level for up to 50% and expected level for approximately 20% of the Sub-
Fund’s Net Asset Value. The Manager will be able to recall the securities lent out at any
time. All securities lending transactions will only be carried out in the best interest of the
Sub-Fund and as set out in the relevant securities lending agreement. Such transactions
may be terminated at any time by the Manager at its absolute discretion. As part of the
securities lending transactions, the Sub-Fund must receive cash and/or non-cash collateral
of 100% of the value of the securities lent (interests, dividends and other eventual rights
included). The collateral will be marked-to-market on a daily basis and be safekept by the
Trustee or an agent appointed by the Trustee. Non-cash collateral received may not be
sold, re-invested or pledged. Any re-investment of cash collateral received shall be subject
to the requirements as set out in the section “Collateral” of Schedule 1 in Part 1 of the
Prospectus.
To the extent the Sub-Fund undertakes securities lending transactions, all revenues (net of
direct and indirect expenses as reasonable and normal compensation for the services
rendered in the context of such transactions to the extent permitted by applicable legal and
regulatory requirements) shall be returned to the Sub-Fund. The cost relating to securities
lending transactions will be borne by the borrower.
Consequential updates will be made to relevant risk disclosures in Appendix 2 of the
Prospectus and the Product Key Facts Statement (the “KFS”) of the Sub-Fund.
Change of Securities Lending Transactions Policy of the Sub-Funds
According to the updated Chapter 7.32 to 7.38 (regarding securities financing transactions)
of the revised Code on Unit Trusts and Mutual Funds, the Manager has decided to amend
the existing securities lending transactions policy of the Sub-Funds as following, with effect
from the Effective Date:
2
Current Securities Lending Transactions Securities Lending Transactions Policy
Policy from Effective Date
The Manager may, on behalf of the Sub- The Manager may, on behalf of the Sub-
Funds, enter into securities lending Funds, enter into securities lending
transactions for up to 30% of the Sub-Funds’ transactions, with the maximum level for up
Net Asset Value. to 50% and expected level for approximately
20% of the Sub-Funds’ Net Asset Value.
As part of the securities lending transactions, As part of the securities lending transactions,
the Sub-Funds must receive cash collateral the Sub-Funds must receive cash and/or
of 105% of the value of the securities lent non-cash collateral of 100% of the value of
(interests, dividends and other eventual the securities lent (interests, dividends and
rights included). The Custodian will only take other eventual rights included). The collateral
cash as collateral as agreed between the will be marked-to-market on a daily basis
parties. The collateral will be marked-to- and be safekept by the Trustee or an agent
market on a daily basis and be safekept by appointed by the Trustee.
the Custodian.
The Manager will not engage in any Non-cash collateral received may not be
reinvestment of collateral received. sold, re-invested or pledged. Any re-
investment of cash collateral received shall
be subject to the requirements as set out in
the section “Collateral” of Schedule 1 in Part
1 of the Prospectus.
Consequential updates will be made to relevant risk disclosures in the Prospectus and the
KFS of the Sub-Funds.
General
The Manager believes that the addition of securities lending transactions of the Sub-Fund
and the amendments to the securities lending transactions policy of the Sub-Funds are in
the best interests of the Sub-Fund and the Sub-Funds. The changes described in this
Announcement will not materially prejudice the existing investors’ rights or interests and
there will not be any material changes or increase in the overall risk profile of the Sub-Fund
and the Sub-Funds following the changes. There’re no costs and/or expenses that will be
incurred in connection with the changes.
Revised Prospectus
The above changes and consequential amendments will be reflected in the revised
Prospectus of the Trust (by way of an addendum) and the KFS of the Sub-Fund and the
Sub-Funds, which will be published on the Manager’s website at www.csopasset.com and
the HKEX’s website at www.hkexnews.hk on the Effective Date.
For Further Information
If you have any queries or require further information in relation to any aspect of this
Announcement, please contact the Manager at 2801-2803 Two Exchange Square, 8
Connaught Place, Central, Hong Kong or its Customer Service Hotline at (852) 3406 5688.
3
By Order of the Board
CSOP Asset Management Limited
Chief Executive Officer
Ding Chen
25 October 2019
As of the date of this Announcement, the board of directors of the Manager comprises 7
Directors namely, Mr. Zhou Yi, Ms. Ding Chen, Mr. Zhang Gaobo, Mr. Yang Xiaosong, Mr.
Cai Zhongping, Mr. Liu Zhiwei and Ms. Liu Xiuyan.
4