Risk Factors and Important Legal Information
What are the main risks?
Key considerations related to the Index
- Historical Performance: The live historical or past simulated performance of each strategy is not a guarantee or an indication of future performance.
- Use of leverage: Certain strategies may involve the use of leverage, via a leverage factor or volatility targeting, which may exacerbate losses and subsequent deleveraging may increase the time taken to recover from a drawdown event.
- Use of signals: Certain strategies may utilize timing signals, which determines if the strategy is invested or uninvested at any given time. The impact of such signal inclusion on strategy performance may be positive or negative versus an equivalent strategy that is always invested at all times.
- Limited operating history: Strategies may have limited operating history (if any), which may have no proven track record in achieving the stated investment objective.
- Individual strategy cost structure: Certain costs have been embedded in the calculation of each strategy, and there may be additional costs in accessing / trading a particular strategy, which will have an impact on the return an investor may receive from a particular strategy investment.
- The Index contains embedded transaction costs and holding costs. The impact of these costs will vary through time. Higher turnover among the Index components will result in larger transaction costs and lower Index returns. Larger exposures to the Index components will result in larger holding costs and lower Index returns.
- Strategy complexity and suitability: Various strategies will have differing levels of complexity and hence certain complex strategies may be less suitable for certain investor types. Investors should make an assessment of the strategy's suitability before any investment.
- Investment product: The Investor's risk-return profile is a function of the type of strategy-linked product invested. As such, capital may or may not be at risk depending on product type, and the product may or may not employ leverage. For example a capital protected product linked to a strategy will have reduced risk versus a leveraged product which will conversely have increased risk.
- Currency Risk: If the currency in which the past performance is shown differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations, the performance shown may increase or decrease if converted into your local currency.
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