Premia Asia Innovative Technology ETF

IMPORTANT: Investment involves risk, including the loss of principal. Investors should refer to the Prospectus and Key Facts Statement of the Premia Asia Innovative Technology ETF (“ETF”) for details, including the risk factors. Investors should not base investment decisions on this marketing material alone. Investors should note:

The ETF aims to provide investment results that, before fees and expenses, closely correspond to the performance of Premia FactSet Asia Innovative Technology Index (“Index”). There can be no assurance that the ETF will achieve its investment objective.

Emerging markets risk
The Sub-Fund invests in emerging markets which may involve increased risks and special considerations not typically associated with investment in more developed markets, such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk, currency devaluation, inflation and the likelihood of a high degree of volatility.

Technology sector and concentration risk
Due to the concentration of the Index in the technology sector, the performance of the Index may be more volatile when compared to other broad-based stock indices. The price volatility of the Sub-Fund may be greater than the price volatility of exchange traded funds tracking more broad-based indices.

Software, internet and related services industries risks
Many of the companies in the software, internet and related services industries have a relatively short operating history. Rapid changes could render obsolete the products and services offered by the companies in which the Sub-Fund invests and cause severe or complete declines in the prices of the securities of those companies. The internet business is subject to complex laws and regulations which are subject to change and uncertain interpretation.

Consumption sector risk
The performance of companies active in the consumer sector are correlated to the growth rate of the Asian consumer market, individual income levels and their impact on levels of domestic consumer spending in the Asian markets, which in turn depend on the worldwide economic conditions. These companies may also be subject to government regulation affection production methods, which may have an adverse impact on their operating results and profit margin.

Risks associated with N-Shares
Companies issuing N-Shares often have business operations in PRC and are subject to certain political and economic risks in the PRC. The American stock market may behave very differently from the PRC stock market, and there may be little to no correlation between the performance of the two.

Risks associated with P-Chips
P-Chips are subject to risks similar to those associated with investments in H-Shares. They are also subject to risks affecting their jurisdiction of incorporation, including any legal or tax changes.

Risks associated with Red Chips
Investing in Red Chips involves risks that political changes, social instability, regulatory uncertainty, adverse diplomatic developments, asset expropriation or nationalisation, or confiscatory taxation could adversely affect the performance of Red Chip companies. Red Chip companies may be less efficiently run and less profitable than other companies.

Risks associated with depositary receipts
Exposure to depositary receipts including American Depository Receipts (“ADRs”) may be subject to risks such as non-segregation under applicable law of the depositary bank who hold the underlying stock as collateral and its own assets. Holders of depositary receipts are not direct shareholders of the underlying company and generally do not have voting and other shareholder rights as shareholders do. The Sub-Fund may also be subject to liquidity risk as depositary receipts are often less liquid than the corresponding underlying stocks.

ChiNext market risks
The Sub-Fund’s investments in the ChiNext market of the SZSE may result in significant losses for the Sub-Fund and its investors. Risks include higher fluctuation on stock prices, over-valuation risk and differences in regulation and delisting risk.