Contract
輝立資本管理(香港)有限公司
資產管理協議
附表:
1. 開戶表格(客戶資料表)
2. 個人資料收集聲明
3. 風險披露聲明
4. 投資目標、策略、限制及風險披露
5. 選擇計劃及收費詳情表格
6. 輝立証券(香港)有限公司之全權委托帳戶書
資產管理協議
輝立資本管理(香港)有限公司（「投資經理」），乃一間根據證券及期貨條例獲證券及期貨事務監察委員會發牌從事就證券提供意見及提供資產管理之受規管活動的公司，CE 編號為 AEP527，其地址為香港金鐘道 95 號統一中心 11 樓。鑒於投資經理同意於客戶資料表上識別為客戶（「客戶」）在投資經理開立一個或多於一個委託投資帳戶，並向客戶提供資產管理服務，客戶特此授權予投資經理足夠權限以提供全權委託資產管理服務，而有關帳戶的服務及交易須受資產管理協議及客戶資料表 (經不時修訂並通知客戶)的規限。投資經理的現行資產管理協議列載如下：
1. 釋 義
1.1. 在本協議中，除文義另有所指外，以下各詞和用語應具有下列涵意：
「帳戶」 | 客戶以其姓名在投資經理所開設及維持的委託帳戶； |
「本協議」 | 就提供有關服務，投資經理與客戶簽立的書面協議及其不時以書面形式予以修改的版本，包括但不限於本資產管理協議、客戶資料表、風險披露聲明、私隱政策及客戶給予投資經理就帳戶的任何授權； |
「聯繫人士」 | 指設於香港或其他地方，與投資經理有關連之附屬公司或聯屬公司之法人團體。 |
「經紀」 | 由客戶不時委任及獲投資經理同意之任何公司，其包括輝立証券(香港)有限公司及輝立商品(香港)有限公司等，以執行投資指示，維持或提供保管所有以現金和投資構成的投資組合； |
「營業日」 | 銀行在香港經營銀行業務之日子(星期六除外)； |
「客戶資料表」 | 指本協議的附表 1； |
「電子媒介」 | 任何電子或電訊媒介，包括但不限於互聯網、互動電視系統、電話、傳真、無線應用系統規約，或投資經理不時確定和指定的任何其他電子或電訊設備或系統； |
「期交所」 | 香港期貨交易所有限公司、包括其繼承者、受讓人及由於其重組、合併、並入而產生或保存的實體；及 |
「投資」 | 所有或任何以下項目： (a) 任何股份、股票、認股證、基金單位及互惠基金(不論是否根據證券及期貨條例獲得認可之集體投資計劃)、股票掛鈎票據、無扺押債券、股票借據、債券、票據、存款證、商業票據、承兌、貿易票據、國庫票據、匯票或保證票據或任何人士作擔保的承付票 據； |
(b) 任何認為或視為具投資性質的工具、資產或債項（不 管是否具備股票或債券或其他特性）；和 (c) 商品、外匯、現貨及遠期合約、期權、認股證、期貨合約、差價合約、掉期、交易及衍生產品(不論是否以任何方式與前述的或任何金錢、指數、證券或其他資產，產業有聯繫)；及 (d) 任何獲投資經理和客戶不時同意的資產或其他描述； 在任何一種情況下，不論該等投資為上市或非上市、有否在任何交易所或市場買賣、屬私人配售或公開發售，及是否由證書或其他文件(不記名、可轉讓或其他形式) 構成、作為證明或代表，或記入一名發行人、結算所、存管處、代管人或其他人之簿冊，連同就上述任何一項於發行人、結算所、存管處、代管人或其他人士之權利、權益及收益； | |
「投資戶口」 | 第 4.1 條所述的戶口； |
「投資組合」 | 帳戶內或由投資經理安排，以經紀名義替客戶持有的所有現金（不論任何貨幣）、投資和其他資產，含最初投資組合及其投資、再投資及出售投資所得，包括但不限於投資之所有股息及利息，其升值及增額減除貶值及提取； |
「投資指引」 | 投資經理以書面形式(經不時修訂的)給予客戶與管理投資組合有關的投資指引及規限； |
「保證金買賣」 | 藉存放現金或非現金(稱為保證金)予經紀作為抵押品而進行的投資買賣，提供保證金是為減少市場的風險，就投資為證券而言，保證金買賣含以借貸形式購買證券的意義， 「保證金方式」指以保證金買賣進行的方式； |
「聯交所」 | 香港聯合交易所有限公司、包括其繼承者、受讓人及由於其重組、合併、並入而產生或保存的實體；及 |
「證監會」 | 證券及期貨事務監察委員會。 |
1.2. 凡本協議中文意允許之處，指單數的字包括複數，反之亦然。陽性詞包含中、陰性詞，反之亦然。「人」一字應包括任何商號、合夥企業、多於一人的組織及法人團體及共 同行事的任何這些人，以及任何這些人的遺產代理人或有權繼承人。凡提及「書面」 應包括透過電子媒介傳送的文字。標題僅為方便而設。凡於本協議內提及「條款」或
「附表」分別指本協議的條款或附表，除非文意另有所指。
2. 投資經理的委託及權力
2.1. xxx任命投資經理為其代理人及實際授權人，根據本協議之條款及條文，此以全權委託形式為其帳戶中投資組合作出投資及再投資。投資經理亦同意被客戶委任為其帳戶的投資經理。
2.2. 根據本協議中的條款、條件、及客戶發出一般或特定的書面通知並獲投資經理的同意，投資經理獲授權委託去（事前無須知會客戶）投資、管理或交易和完全控制其投資組 合，並給予指示給經紀去執行其就投資組合的責任或管理。在投資經理行使其獲授權 委託時，投資經理可根據其判斷和／或任何資料，或任何他人提出的建議或意見。
2.3. 在無損本協議第 2.2 條之一般適用原則情況下，客戶謹此授權投資經理，按投資經理酌情認為合適之方式、程度及條款，對投資組合之管理作出以下任何行為，惟須受投資經理與客戶不時另行協議之條件所規限：
A. 持有、購買 (不論是以現金方式或保證金方式)、銷售或處理投資組合；
B. 就投資組合訂立合約或許下承諾，以及為所需的交易安排交收或處置投資組合
（包括但不限於支付期權金、期貨及期權合約、及保證金融資交易）；
C. 變賣、交換或轉變所有或任何部份的投資組合為現金；
D. 提存、投資、再投資和／或轉變投資組合內的現金為任何貨幣；
E. 可運用或不用借貸，認購或參予任何主承銷或分銷之發行或出售的投資組合(不論是否首次公開發售)；
F. 行使、執行、或拒絕行使或執行有關投資組合內所包含的任何投資或資產（包括但不限於任何認購、認沽期權），或其資產的能力或權利（包括但不限於投票權）；及
G. 一般而言，附帶於或因與管理投資組合而須進行的所有行動及事宜。
2.4. 在不損害根據本協議第 2.3 條及投資指引的限制下，投資經理將以全權委託形式管理帳戶 :
A. 以現金方式或保證金方式，也可運用或不用借貸，進行購買、出售或認購投資(可產生長倉或淡倉)；
B. 透過市場中介人士借入或貸出投資，以及授權予有關人士或向其發出指示; 及
C. 在適用法律及規則下，於任何市場中介人士(其中包括但不限於經紀)持有現金、保證金帳戶、期貨及期權帳戶或其他類別帳戶、綜合或獨立帳戶，並可向有關市場中介人士就該等帳戶發出買賣指示。
2.5. 客戶同意投資經理可以按其絕對酌情權委任任何人士（包括但不限於聯繫人士）作為其代名人或代理人（統稱「代理人」），代其履行根據本協議需提供的服務，以及可以將其根據本協議需履行之責任及賦予之權力委託給該等代理人。客戶接納本協議，
即表示進一步同意如投資經理只須真誠地挑選該等代理人，投資經理無須因該等代理人的行為或遺漏而導致客戶遭受任何損失或損害，而承擔責任。
2.6. 投資經理可以將其代客戶或按客戶指示作出的買賣盤與其自身的買賣盤或其客戶的買 賣盤合併一起以便執行，及可以按其絕對酌情權在有關人之間分配已完成買賣的投資，惟須妥為考慮市場做法及對有關人士的公平處理方法。 客戶確認和同意上述合併及/或 分配會在若干情況下對客戶可能產生有利的情形而在其他情況下對客戶可能產生不利 的情形。
2.7. 客戶就此明瞭及同意投資經理記載的所有關於投資組合及其所有交易及有關付款和扣除的條文都是確實和具約束力的。
3. 投資目標及指引
3.1. 在不損害根據本協議第 2 條作出之任命之概括性原則下，投資經理將以全面性及綜合性之全權委託形式管理帳戶。
3.2. 投資經理將根據投資指引所述的投資目標及指引為投資組合進行投資。投資經理可不時及隨時自行決定修改投資指引，而有關修改在向客戶發出書面通知之時即告生效。倘客戶建議的投資指引修改導致投資組合的成份與投資指引之間產生矛盾，該矛盾不會視為違反投資指引，而客戶授權投資經理可用其酌情權，授取其認為需要的時間內任何行動，以解決該矛盾。
3.3. 為免存疑，若投資組合之價格或價值純粹因市場動向或市況或非投資經理所能控制之其他事件而改變，不得視為違反投資指引。
3.4. 假如為管理投資組合而使用衍生工具，投資經理在客戶要求下，須提供產品說明書及有關之發售章程，及向客戶充份解釋保證金交易程序及在無需客戶同意而將其持倉出售或平倉的情況。
3.5. 客戶可以就有關本協議向投資經理發出指示。投資經理獲得授權（但無義務）按照客戶或任何授權人士以任何通訊方式發出的每一個指示及賴以採取行動，且投資經理有權（但無義務）要求客戶對任何指示作出確認。投資經理並無義務詢問或調查任何指示的真實性或真確性，也沒有義務澄清或證實任何指示，而客戶須承擔因任何指示而直接或間接産生的所有風險。
4. 保 管
4.1. 投資組合由投資經理與客戶不時約定在經紀開立的獨立戶口（「投資戶口」）持有。客戶確認投資戶口可以是現金帳戶或附有保證金條款的保證金帳戶。客戶須在與經紀開立有關帳戶前閱讀、明瞭及接受保證金買賣相關的風險 (載列於附表 3 「風險披露聲明」)。
4.2. | 客戶須按照投資經理指定的最低限額及日期前，支付及/或交付及/或轉移款項及/或投資 至投資戶口。 | |
4.3. | 投資經理在任何時間均不得保管或實質控制投資組合。 | |
4.4. | 客戶須向經紀提供有關投資戶口的操作的指示以達致以下效果： | |
A. 經紀須遵守投資經理按本協議發出的指示，以及提供本條款提述的所需通知；及 | ||
B. 經紀須向投資經理提供交易確認單及日/月結單。 | ||
4.5. | 投資經理無論在任何情況下都不會就經紀或任何其選擇的代名人或代理人的任何行為、錯誤或疏忽而導致客戶任何性質的損失負上責任。 | |
5. | 報告 5.1. | 投資經理須每月向客戶呈送一份有關投資組合狀況的帳戶報告，而該報告是基於經紀 |
發出的帳戶結單。 | ||
5.2. | 投資經理使用第三方（例如證券交易所、商品交易所、期貨交易所或場外交易所）提供的市場價格，以計算客戶投資組合的總額。投資經理亦會基於每季度末交收日的收盤價以計算該帳戶的投資組合的總額。如特定的證券當天沒有交易，便應參考於同一天的最後報價。投資經理將盡其最大努力，以確保該報告的完整性和準確性。 | |
5.3. | 按客戶不時的要求，投資經理會提供所有可公開取得有關投資資產證券的財務報表、記錄及其他報告的副本，並收取合理的費用。 |
6. 收費及費用
6.1. 作為投資經理就本協議下所提供服務之酬金，客戶將會向投資經理支付或使投資經理獲支付其不時指定之管理及表現費。最初的管理費及表現費按照載列於本協議的附表 5之基準計算及收取。在任何情況下，所有費用於支付後不得退還。
6.2. 客戶應以書面向投資經理選擇計劃，並按該計劃計算及支付費用。如客戶未有選擇其計劃，投資經理則可作出選擇，並於七天內通知客戶有關的選擇。
6.3. 投資經理有權不時評估及／或修改各計劃的費用，及／或計算及收取有關費用的基準。
6.4. 客戶須負責支付為管理投資組合而招致的佣金、託管費用、稅項及其他開支，並須償還投資經理有關之付款。客戶謹此授權投資經理從投資組合中的現金扣除或將投資組合變現，以便償還該等付款。
7. 非金錢利益及金錢回佣
7.1. 客戶同意投資經理可在證監會允許的情況下從經紀收取物品或服務（「非金錢利益」），根據與經紀不時代客戶進行的直接交易，而該物品或服務明顯地對客戶有利
（不論受益者是否包括客戶本身），而交易的執行符合最佳執行條件的原則，而該經 紀佣金比率並不高於一般提供全面服務的經紀所收取的佣金比率。物品及服務可包括 但不限制於研究和顧問服務，經濟及政治分析，投資組合分析，包括估值及衡量業績 表現的分析，市場分析，數據和報價服務，與上述物品或服務有關的電腦硬體和軟體，結算及代管服務，和與投資有關的刊物。客戶特此同意投資經理收取以上提及之物品 或服務。投資經理應最少每年一次向客戶發表聲明，說明其收取非金錢利益的做法， 包括說明投資經理在上年度所收取之物品及服務。
7.2. 客戶同意投資經理亦可收取及保留替客戶執行的交易以及與其管理有關投資組合的現金或金錢性質的回佣，但該經紀佣金比率必須不高於一般提供全面服務的經紀所收取的佣金比率。根據現時的規定，如投資經理收到金錢回佣，投資經理應每年最少 2 次向客戶提供有關回佣收入的數目。
8. 責任和賠償
8.1. 投資經理、其聯繫人士、主管、職員或代理商不應就任何錯失或判斷或任何行為或忽略而負上責任，除非這行為或忽略是由於投資經理、其聯繫人士、主管、職員或代理商故意或顯然的疏忽所造成的。
8.2. 無損於本協議第 8.1 條，投資經理不會就替客戶所作的投資提供任何表現或盈利能力的xx或保證，投資經理、其聯繫人士、主管、職員或代理商亦毋須在任何情況下就投資組合的價值升跌或損失機會而負上責任。投資經理並不保證投資組合或其任何部份不受不利的稅務影響，客戶須向其稅務顧問諮詢其稅務事情。
8.3. 投資經理不須為以下人士的失責行為負責：經紀、交易對手方、銀行、託管商或代客戶持有投資或產權文件的其他人士或透過該等人士進行與投資組合有關的交易。
8.4. 客戶應補償投資經理、其聯繫人士、主管、職員或代理商於真誠地履行其責任或管理 投資組合時所蒙受、支付或招致的所有負債、損失、指控、要求、訴訟、代價和費用，除非有關損失是由以上人士的故意失責或嚴重疏忽造成。投資經理不應被強制為客戶 作出任何行動，除非投資經理滿意客戶會完全補償或保障投資經理所有因投資經理採 取之任何行動而招致或蒙受之所有代價和負債。
8.5. 不論本協議的其他條文，投資經理不須承擔由於出現非投資經理能合理控制的任何理 由／情況而導致投資經理延遲、失誤或未能履行其根據本協議的責任，及其蒙受或招 致的任何損失或開支，當中理由／情況包括但不限於命令、法律、控制、規則、指令、徵費、稅項、禁運、禁令、外匯管制、限制或其他政府（包括事實上或法律上）或其 他主管機關的行為、傳送指示或電腦系統出現故障或失靈、郵遞系統或其他罷工、交
易所、交易板、市場或結算所的停止或結束活動、其他天災、火災、水災、惡劣天氣或爆炸。
9. 潛在利益衝突及披露
9.1. 客戶確認投資經理、其聯繫人士、主管或職員為本身買入、出售或買賣任何證券。投資經理、其聯繫人士、主管、職員或其他客戶可隨時擁有、取得、增持、減持或出售同時為客戶購入或出售之投資。客戶確認，投資經理、其聯繫人士、主管、職員之間的重大利益、關係和安排可能對投資經理向客戶的責任產生衝突。投資經理、其聯繫人士、主管、職員無須為該等交易產生的收益、佣金及報酬而向客戶交代。
9.2. 投資經理可以為其他人士提供或繼續提供投資管理服務或其他有關服務，為他人提供有關服務不得視作違反或產生對客戶之任何職責或義務。
10. 客戶身份
10.1. 在本協議內，(a)「最終受益人」一詞指根據本協議為客戶於聯交所、期交所完成或將完成之任何交易而言，每位及各位 (i)就是項交易而言由客戶充當其代理人而行事之主事人，或 (ii)就是項交易取得商業或經濟利益及／或承擔其商業或經濟風險之人士，或 (iii)最終負責發出有關交易指示之人士，及 (b)「身份資料」一詞就任何人士而言，指該人之真實及全部身份，包括該人(等)之別名、地址、職業及聯絡資料。
10.2. 就根據本協議為客戶於聯交所、期交所完成或將會完成之任何交易而言，假如客戶乃以代理人身份行事，並且因任何理由不能向投資經理披露或提供有關這些交易之最終受益人之身份資料，則客戶承諾在收到投資經理或有關市場、結算所或監管機構，包括證監會、聯交所、期交所、海外交易所及結算所或其他政府或監管機構（「有關的監管機構」）根據任何法律責任或法院命令之書面要求，於兩個營業日內（或有關的監管機構為本條款第 10.2 條之目的而合理指明之較短時間），向有關的監管機構直接提供此等身份資料。客戶在本條款 10.2 分條下所作之承諾，於本協議終止後仍繼續有效。
10.3. 就根據本協議為客戶於聯交所、期交所完成或將會完成之任何交易而言，假如客戶乃 以任何投資計劃、戶口或全權信託（或任何其他人士）之投資經理身份行事，而客戶 之酌情決定權乃被此等計劃、戶口或信託（或此等其他人士）之這一個或以上受益人 決定，則客戶承諾 (a)把此等安排通知投資經理，及 (b)把擁有客戶酌情決定權之最終受 益人或此等其他人士之身份資料向投資經理提供。假如客戶因任何原因不能向投資經 理披露或提供此等身份資料，則客戶承諾在收到投資經理或有關的監管機構之書面要 求後兩個營業日內（或有關的監管機構為本條款第條之目的而合理指明之較短時間內）向有關的監管機構直接提供此等身份資料。客戶在本協議第 10.3 條下所作之承諾於本 協議終止後仍繼續有效。儘管以上的規定，投資經理有權要求客戶直接向投資經理透 露上述的身份資料。如客戶未能遵守有關規定，投資經理有權終止本協議及結束帳戶。
10.4. 就根據本協議為客戶於聯交所、期交所完成或將會完成之任何交易而言，假如客戶乃為一個實行顧客保密法之司法管轄範圍內之中介人，則客戶確認 (a)已與最終受益人就
這些交易簽訂協議，同意就有關的監管機構根據上述本協議第 10.1、10.2 及 10.3 條要求向有關的監管機構提供資料而放棄受此等保密法之保障，及 (b)此項協議根據有關外國法律仍具約束力。
10.5. 如客戶是在《打擊洗錢及恐怖分子資金籌集(金融機構)條例》（「反洗錢條例」）所界定的中介人，客戶承諾會：
A. 確保內部政策、程序及措施符合打擊洗錢及恐怖分子資金籌集的法律、規則及指引，包括對其客戶及有關交易進行持續監察;
B. 依照反洗錢條例附表 2 的第 2 條，對其客戶進行盡職審查；及
C. 因應海外或本地監管機構或本公司的要求，沒有延誤地提供在執行客戶盡職審查措施過程中取得的任何文件或紀錄的複本。
11. 客戶作出的保證
11.1. 客戶作出以下持續的聲明和保證：
A. 客戶有全權和能力訂立和簽署本協議；
B. 客戶為投資組合的實益擁有人(包括依第 4.2 條轉移至投資戶口的投資)或獲得實益擁有人授權依據本協議所需的權力處理該等組合，該等組合概無任何留置、抵押或其他產權負擔，而客戶的行為或遺漏不會對該等組合產生任何留置、抵押或其他產權負擔；
C. 客戶向投資經理就開立及運作帳戶而發給投資經理載列於客戶資料表或其他文件中的資料全屬真實、全面和準確的，投資經理可依賴上述資料直至投資經理從客戶收到更改通知；及
D. 客戶會根據與本協議有關的適用法律及規則，維持及確保任何政府或其他機構的批准、授權、牌照或准許為有效。
11.2. 客戶承諾除透過投資經理外，不會處理投資組合的任何部份，亦不會授權其他人處理。
11.3. 客戶承諾會按投資經理的要求不時提供有關客戶財政及其他資料。
11.4. 在不影響本協議第 10 條的情況下，客戶須為令投資經理遵守聯交所、期交所、證監會、其他海外交易所及結算所、股份登記處以及其他機構的要求或按法律責任及法院命令，迅速向投資經理提供（或促使他人提供）其所需的資料。客戶同意授權投資經理作出 有關的披露。
11.5. 客戶已收到、閱讀和理解本協議附表 3「風險披露聲明」的內容。
12. 一般事項
12.1. 客戶承諾投資經理可作出及履行（及不可撤銷地授權代表客戶作出及履行）任何行為、契據、文件或事情，而該等行為、契據、文件或事情乃與實施、執行和強制執行本協 議條款及本協議授予的權利有關，包括但不限於由客戶簽立一份不可撤銷的授權書， 委任投資經理作為其合法受權人，代表客戶作出及簽立所有投資經理認為在實施、執 行和強制執行本協議方面為必須或合適的行為、契據、文件或事情，客戶並同意對投 資經理所作出及簽立的該等行為、契據、文件或事情予以追認或確認。
12.2. 客戶理解，客戶就開設或維持任何帳戶或就投資經理根據本協議向客戶提供服務，已向投資經理提供或可能不時提供個人資料（根據《個人資料（私隱）條例》（香港法例第 486 章）所界定之涵義）（「個人資料」）。客戶承認，除非客戶選擇提供任何個人資料予投資經理，否則客戶無須提供。但是，如果客戶不提供任何個人資料，投資經理可能無法為客戶開設或維持有關帳戶及∕或向客戶提供任何服務。
12.3. 客戶確認已細閱本協議附表 2「個人資料收集聲明」，並同意其中所有條款。
12.4. 客戶應有責任就投資經理為帳戶進行之交易遞交任何報稅表格和報告，其包括有關投資經理為客戶持有或收取之資本或收入支付稅款。
12.5. 投資經理不應在協議繼續生效時或終止協議後，向任何人士披露任何投資經理在協議期間得知的客戶機密事宜（除非獲得客戶之書面授權或法律要求下）。客戶須同樣把由投資經理在組合報告中向客戶提供而未為公眾所知的資料保密，並不得向任何人士透露。
12.6. 如果客戶包含兩位或多位人士，根據本協議他們的責任應是共同及個別的，投資經理可有權利（但不限於）信賴和根據任何一方的指示、授權或通知而行事。若任何一方辭世（除獨立在生者），本協議不會因而終止，辭世者在投資組合的利益將自動由在生者擁有。投資經理保留要求所有此等人士作出書面指示之權利。投資經理向任何一位此等人士交付付款或投資組合，即為有效及完全履行向每一位此等人士之責任，不論此等交付是否在任何一位或以上此等人士去世之前或之後作出；
12.7. 在不影響本協議第 2.5 條條款賦予投資經理的權利下，本協議是屬雙方自用的。除非獲得另一方書面同意，雙方均無權將協議的任何權利或責任轉讓或轉移。然而，投資經理可以在其本身承擔費用的情況下將其職能、權力、酌情權、特權和職責中的全部或部分委派給任何個人、商號或公司，且可按照投資經理認爲合適的條款及條件進行任何此類委派。
12.8. 雙方就此承諾若果任何在協議中提供的資料出現重大變更時，他將會通知對方。
12.9. 本協議定立雙方就協議內列舉事情的承諾和理解，並取代雙方之前所有口頭或書面的xx、承諾和理解。
12.10. 如協議內的任何條款在任何情況下已經或將會無效、違法或不能執行，將不會影響或損害其他餘下條款的有效性、合法性和執行性。
12.11. 投資經理可在合理時限內以書面通知客戶有關本協議修改的條款。如在該時限內客戶沒有終止本協議，客戶應當作已接受經修訂後的本協議所約束。
12.12. 本協議可翻譯為英文，如發生任何抵觸，應以英文文本為準。本協議的英文版本會因應客戶的要求提供。
13. 終 止
13.1. 本協議應（或根據具體情況）被視為自本協議的日期開始生效。在不違反本條款及本協議附表 6 的情況下，除非和直至某一方書面終止本協議，否則本協議會繼續有效。即使前述規定，如客戶尚欠投資經理款項，或尚有未平倉交易或未清償債務或責任，客戶無權終止本協議。
13.2. 根據本協議第 13.1 條作出的終止不會影響投資經理於終止前的所有行為，而該行為應對客戶及其繼任者具有效力和約束力的。
13.3. 若本協議被終止，客戶欠負投資經理債項會變成即時到期，故此客戶應支付投資經理所有欠繳的款項（包括但不限於本協議第 6 條所述費用、所有累積費用和支出以及投資經理因終止本協議而招致的額外開支）。
13.4. 除非給予投資經理七個營業日通知，並支付為達致提取投資組合而所需繳付的開支。否則，客戶不應提取全部或部份投資組合。
13.5. 除非客戶向投資經理書面發出終止的通知，否則本協議的條款將自動延長為連續 12 個 月。投資經理於該 12 個月期之最後交易日之至少 14 天前（「屆滿日期」）通知客戶，而客戶須在到期日前發出通知以終止本協議。
13.6. 如投資經理沒有收到客戶按照上述第 13.5 條條款的終止指示，則投資經理可假設客戶已將本協議延長額外 12 個月。
14. 指示和通知
14.1. 本協議所述的所有通知必須以書面方式，並以電郵、傳真或郵遞發送予收件一方，至 投資經理載列於客戶資料表第 1 頁的地址，或發送予任何一方以書面通知對方的地址。
14.2. 投資經理可以依賴任何聲稱或其合理相信來自客戶的通知、指示或其他通訊而行事。 所有該等通知、指示或其他通訊對客戶有約束力。投資經理不須為依該等指示行事而 負上任何責任，亦沒有責任查證發出有關指示人士的身份或權限或該等指示的真確性。
15. 管限法律
x協議及其條文之詮釋及應用須受香港特別行政區法律管轄及據此解釋。客戶謹此不可撤回地甘願受香港法院之非專有司法管轄權限制。
附表 2
個人資料收集聲明
1. 披 露 義 務
除特別聲明外，客戶必須按開戶表格上的要求，將個人資料提供給輝立資本管理 (香港) 有限公司。假如客戶不提供此等資料，本公司將沒有足够資料來為客戶開設及管理帳戶。
2. 個人資料之使用
2.1. 使 用 者
有關客戶的所有個人資料﹙不論是由客戶所提供，還是由其他人士所提供﹔及不論這些資料是在客戶收到現金客戶協議之前，還是之後﹚將可被任何下列之公司或人士使用﹙各為一「使用者」﹚﹕
(i) 輝立資本管理(香港)有限公司及／或其聯繫人士 (「集團」)﹔
(ii) 集團的任何董事、高級職員、僱員或代理人﹔
(iii) 執行客戶指示和/或從事集團業務而由集團授權的任何人士﹙例如律師、顧問、代名人、托管人等﹚﹔
(iv) 集團持有與客戶相關的任何權利和義務的任何實際或建議的承讓人；及
(v) 任何政府機構、監管機構或其他團體或機構(不論是法例或是任何集團成員適用的規例所要求)。
2.2. 目 的
客戶的所有個人資料可被任何使用者用於下列目的﹕
(i) 執行新的或現有顧客的查核及信用調查程序，以及協助其他金融機構從事此類工作﹔
(ii) 持續帳目管理，包括收取欠款，强制執行擔保、抵押或其他權利和利益﹔
(iii) 設計提供予客戶之新產品和服務，或向客戶推廣集團的產品﹔
(iv) 將此等資料轉移到香港以外的任何地方﹔
(v) 為了下列目的而進行客戶個人資料的比較﹙不論收集此等資料的目的及來源，及不論此等資料是向使用者或任何其他人士所收集的﹚﹕﹙A﹚信用調查﹔﹙B﹚資料核實﹔和/或﹙C﹚編製或核實資料，以便採取使用者或任何其他人士認為合適的行動﹙包括可能與客戶或任何其他人的權利、義務或權益有關的行動﹚﹔
(vi) 用於與客戶有關的任何其他協議和服務之條款所規定之目的﹔
(vii) 有關遵守任何法律、規例、法院判決或其他任何監管機構之判決的任何目的; 及
(viii) 任何有關於執行客戶指示或與集團業務或交易有關連的目的。
2.3. 使用資料作直接促銷
x公司可使用及/或轉送客戶的資料給本集團的任何成員作直接促銷，而本集團須為此目的取得客戶同意 (其包括客戶不反對之表示)。因此，請注意以下兩點：
(i) 客戶的姓名、聯絡詳情、投資組合資料、交易模式及財務背景可被用於直接促銷本集團的投資及有關財務產品及服務; 及
(ii) 若客戶不願意本公司使用及/或轉送個人資料作直接促銷，客戶可行使其不同意此安排的權利。
3. 查閱和修正的權利
根據條例之規定，客戶有權查閱和修正客戶的個人資料。 一般來說(除某些豁免外)客戶有以下的權利﹕
(i) 詢問集團是否持有與客戶有關的個人資料﹔
(ii) 在合理的時間內，客戶可查閱其個人資料；集團將以合理的方式及清楚易明的格式回覆客戶，但須收取合理的費用。
(iii) 要求修正客戶的個人資料﹔及
(iv) 如客戶要求查閱或修正個人資料被拒絕，客戶有權要求說明被拒絕的理由及反對任何該等拒絕。
4. 聯 絡 人
如客戶要求查閱及/或修正個人資料及/或不同意收取直接促銷的資料，客戶可致電 2277 6555 或郵寄至 xx@xxxxxxx.xxx.xx 與本公司的資料保護專員聯絡。
附表 3
風險披露聲明
1. 證券交易的風險
證券價格有時可能會非常波動。證券價格可升可跌，甚至變成毫無價值。買賣證券未必一定能夠賺取利潤，反而可能會招致損失。
2. 期貨及期權交易的風險
買賣期貨合約或期權的虧蝕風險可以極大。在若干情況下，你所蒙受的虧蝕可能會超過最初存入 的保證金數額。即使你設定了備用指示，例如“止蝕”或“限價”等指示，亦未必能夠避免損失。市場情況可能使該等指示無法執行。你可能會在短時間內被要求存入額外的保證金。假如未能在 指定的時間內提供所需數額，你的未平倉合約可能會被平倉。然而，你仍然要對你的帳戶內任何 因此而出現的短欠數額負責。因此，你在買賣前應研究及理解期貨合約及期權，以及根據本身的 財政狀況及投資目標，仔細考慮這種買賣是否適合你。如果你買賣期權，便應熟悉行使期權及期 權到期時的程序，以及你在行使期權及期權到期時的權利與責任。
3. 買賣創業板股份的風險
3.1. 創業板股份涉及很高的投資風險，尤其是該等公司可在無需具備盈利往績及無需預測未來盈利的情況下在創業板上市。創業板股份可能非常波動及流通性很低。
3.2. 你只應在審慎及仔細考慮後，才作出有關的投資決定。你創業板市場的較高風險性質及其他特點，意味著這個市場較適合專業及其他熟悉投資技巧的投資者。
3.3. 現時有關創業板股份的資料只可以在聯交所、期交所所操作的互聯網網站上找到。創業板上市公司一般毋須在憲報指定的報章刊登付費公告。
3.4. 假如對本風險披露聲明的內容或創業板市場的性質及在創業板買賣的股份所涉風險有不明白之處，應尋求獨立的專業意見。
4. 保證金買賣的風險
藉存放抵押品而為交易取得融資的虧損風險可能極大。你所蒙受的虧蝕可能會超過你存放於有關 持牌人或註冊人作為抵押品的現金及任何其他資產。市場情況可能使備用交易指示，例如“止蝕”或“限價”指示無法執行。你可能會在短時間內被要求存入額外的保證金款額或繳付利息。假如 你未能在指定的時間內支付所需的保證金款額或利息，你的抵押品可能會在未經你的同意下被出 售。此外，你將要為你的帳戶內因此而出現的任何短欠數額及需繳付的利息負責。因此，你應根 據本身的財政狀況及投資目標，仔細考慮這種融資安排是否適合你。
5. 在香港以外地方收取或持有的客戶資產的風險
經紀或其代理人在香港以外地方收取或持有你的資產，是受到有關海外司法管轄區的適用法律及規例所監管的。這些法律及規例與《證券及期貨條例》(第 571 章)及根據該條例制訂的規則可能有所不同。因此，你的資產將可能不會享有賦予在香港收取或持有的資產的相同保障。
6. 在聯交所買賣納斯達克 美國證券交易所證券的風險
按照納斯達克 美國證券交易所試驗計劃 (「試驗計劃」) 掛牌買賣的證券是為熟悉投資技巧的你而設的。你在買賣該項試驗計劃的證券之前，應先諮詢經紀的意見和熟悉該項試驗計劃。你應知悉，按照該項試驗計劃掛牌買賣的證券並非以聯交所的主板或創業板作第一或第二上市的證券類別加以監管。
7. 人民幣計價證券之風險
人民幣不能自由兌換。人民幣與外幣（包括港元）之間的轉換，是受中國的監管限制，並會影響以人民幣計價證券的流動性。人民幣計價的證券可能沒有定期交易或活躍市場。因此，你或許不能及時出售，或大幅折讓其產品的價值以作出售。如人民幣貶值，以港元計價的投資亦會下降。
8. 買賣外國證券（包括於中華人民共和國上市之B 股）之風險
你只應在明瞭外國證券買賣之性質及所承擔風險程度之情況下，方才買賣外國證券，尤其是外國證券買賣不受聯交所監管，並且不會受到賠償基金所保障。你應視乎自己的投資經驗、風險承擔能力及其他相關條件，小心衡量此等買賣對自己是否適合及徵求獨立專業意見(如有疑問)。
9. 集體投資計劃之風險
集體投資計劃可廣泛地（最多 100%）投資於金融衍生工具，定息證券及/或結構性產品（包括但不限於信用違約掉期、次等投資級別債務、按揭抵押證券及其他資產抵押證券）、並涉及不同的風險（包括但不限於交易對手風險、流通性風險、信用風險及市場風險）集體投資計劃可能使用衍生工具的交易策略可能招致損失的部份原因包括但不限於:市場狀況動盪、衍生工具與取決其價格的證券走勢關連性不完美、市場缺乏流動性，以及交易對手的違約風險。
10. 結構性產品之風險
發行商失責風險: 倘若結構性產品發行商破產而未能履行其對所發行證券的責任，你只被視為無抵押債權人，對發行商任何資產均無優先索償權。因此，你須特別留意結構性產品發行商的財力及信用。
非抵押產品風險: 非抵押結構性產品並沒有資產擔保。倘若發行商破產，你可以損失其全數投資。要確定產品是否非抵押，你須細閱上市文件。
槓桿風險: 結構性產品如衍生權證及牛xxx是槓桿產品，其價值可按相對相關資產的槓桿比率而快速改變。你須留意，結構性產品的價值可以跌至零，屆時當初投資的資金將會盡失。
有效期的考慮: 結構性產品設有到期日，到期後的產品即一文不值。你須留意產品的到期時間，確保所選產品尚餘的有效期能配合其交易策略。
特殊價格移動: 結構性產品的價格或會因為外來因素 (如市場供求) 而有別於其理論價，因此實際成交價可以高過亦可以低過理論價。
外匯風險: 若你所買賣結構性產品的相關資產並非以港幣為單位，其尚要面對外匯風險。貨幣兌換率的波動可對相關資產的價值造成負面影響，連帶影響結構性產品的價格。
流通量風險: 聯交所、期交所規定所有結構性產品發行商要為每一隻個別產品委任一名流通量提供者。流通量提供者的職責在為產品提供兩邊開盤方便買賣。若有流通量提供者失責或停止履行職責，你或就不能進行有關產品的買賣，直至有新的流通量提供者委任出來止。
11. 買賣衍生權證之風險
時間損耗風險: 假若其他情況不變，衍生權證愈接近到期日，價值會愈低，因此不能視為長線投資。
波幅風險: 衍生權證的價格可隨相關資產價格的引申波幅而升跌，你須注意相關資產的波幅。
12. 買賣牛熊證之風險
強制收回風險: 買賣牛熊證，你須留意牛熊證可以即日「取消」或強制收回的特色。若牛熊證的相關資產值等同上市文件所述的強制收回價/水平，牛熊證即停止買賣。屆時，你只能收回已停止買賣的牛熊證由產品發行商按上市文件所述計算出來的剩餘價值 (注意：剩餘價值可以是零)。
融資成本: 牛熊證的發行價已包括融資成本。融資成本會隨牛熊證接近到期日而逐漸減少。牛熊 證的年期愈長，總融資成本愈高。若一天牛熊證被收回，你即損失牛熊證整個有效期的融資成本。融資成本的計算程式載於牛熊證的上市文件。
13. 交易所買賣基金之風險
市場風險: 交易所買賣基金主要為追蹤某些指數、行業/領域又或資產組別(如股票、債券或商品) 的表現。交易所買賣基金經理可用不同策略達至目標，但通常也不能在跌市中酌情採取防守策略。你必須要有因為相關指數/資產的波動而蒙受損失的準備。
追蹤誤差: 這是指交易所買賣基金的表現與相關指數/資產的表現脫節，原因可以來自交易所買賣基金的交易費及其他費用、相關指數/資產改變組合、交易所買賣基金經理的複製策略等等因素。
（常見的複製策略包括完全複製/選具代表性樣本以及綜合複製，詳見下文。）
以折讓或溢價交易: 交易所買賣基金的價格可能會高於或低於其資產淨值，當中主要是供求因素的問題，在市場大幅波動兼變化不定期間尤其多見，專門追蹤一些對直接投資設限的市場/行業的交易所買賣基金亦可能會有此情況。
外匯風險: 若你所買賣結構性產品的相關資產並非以港幣為單位，其尚要面對外匯風險。貨幣兌換率的波動可對相關資產的價值造成負面影響，連帶影響結構性產品的價格。
流通量風險: 證券莊家是負責提供流通量、方便買賣交易所買賣基金的交易所參與者。儘管交易所買賣基金多有一個或以上的證券莊家，但若有證券莊家失責或停止履行職責，你或就不能進行買賣。
輝立資本管理(香港)有限公司
Schedule IV
Phillip Capital Management (HK) Limited
重 要 注 意 事 項 2013 年 3 月
如閣下對以下所述資料有任何疑問，應諮詢閣下的股票經紀、銀行經理、律師、會計師或獨立財務顧問。
投資指引、策略、限制及風險披露
目標:
• 輝立資本管理(香港)有限公司致力實現環球各投資項目於資本以及收益的長期增長，縱然本公司主要投資於香港及美國市場。此混合特性尤其能吸引一方面希望獲取定期收入以應付某些預設持續開支，而另一方面又潛力為積累財富提升投資組合的投資者。
• 本公司亦盡力維持總體的組合風險於普遍可接受的水平，以獲取經風險調整的回報，而該等回報
能於中線至長線超越同等市場指數或組合的回報。
策略:
• 本公司的選股策略基於一項必須仔細分析一隻股票的潛在價值及增長前景的價值投資理念，為致力實現我們的目標。
• 選股方法可以自上向下，或自下向上，取決於地域以及行業的升值潛力。
• 本公司亦會投資於首次公開招股，以於有利可圖的時機中獲利。
• 本公司會定期進行投資組合的重新xx調配，以盡量降低投資組合以及個別股份的風險。
• 投資組合將被積極地管理，並非被動地仿效某一市場組合。
• 投資組合持股並無特定時間表。縱然本公司並不採取短線投機的策略，持股的時期長度應足以反映組合內各投資持股的內含價值，假設已計算股票及市場的週期性因素。在下述的投資限制之下，例如約三年的持股時期應大致上為足以量度合理表現的可接受的長度。
• 本公司現時的投資政策提供一項止蝕審查，每當股份的價格由其最初買入價下跌 15%，或進一步
下跌每 10%時，客戶可進行止蝕審查。
限制:
• 為避免風險過大，本公司通常不會投資於保證金比率低於 30%的股份，而且輝立資本管理(香港)有限公司將不時調整這保證金比率限制。
• 本公司並不容許投資於創業板上市公司的認股權證或股票。
• 本公司並不容許現金或股票借貸，甚或賣空。
• 任何投資於單一證券不能超過客戶作出投資時的投資組合總值的 30%。
• 本公司並不容許投資於衍生工具（通常包括期貨及期權）。
• 除上述限制外，本公司於適用時對資本投資者入境計劃客戶採用由入境事務處（香港特區）執行的“資本投資者入境計劃規則”中的“獲許投資資產類別”限制。
風險披露:
• 當輝立資本管理(香港)有限公司的每一位投資經理均對每項投資採取合理及審慎的判斷之時，各個金融市場根本上受制於各種不同風險，包括市場風險、資金流動性風險、結算風險、利率風險，以及匯率風險等，而並無任何投資經理能有十足把握完全避免該等風險。
• 因此每位投資者於作出投資時需預期承受某程度的風險。
• 投資組合的價值可升亦可跌，而於最壞情況下可能變得全無價值，因任何本公司管理的投資組合並非保本投資或資本擔保投資。
• 風險胃納低的投資者於參與投資計劃前，應謹慎考慮上述情況，以及其投資目標、投資經驗與財務狀況等。
• 上述資料僅作為向投資者解釋本公司大致如何管理投資組合的指引。然而投資組合的規模將影響本公司的投資策略能否有效實施，而該情況不單影響能否實現投資目標，亦對本公司所管理的投資組合增加額外風險。
客戶簽署:
Schedule V
附 表 V
Serial No:
客戶姓名:
日期:
帳戶號碼:
身份證/護照號碼:
輝立證券(香港)有限公司(“PSHK”)香港金鐘道 95 號統一中心 11 樓
地址:
聯 絡 電 話 : (O) (H)
(M) (Pg)
敬啟者：
授權輝立證券(香港)有限公司委託帳戶 - 委任認可人士
1. 本人／我方指出本人／我方與輝立資本管理(香港)有限公司建立的資產管理協議，以及與輝立證券(香港)有限公司
(“PSHK”)建立的現金客戶協議（下稱為“協議”）。除非另有指明，協議中定明的條款應有相同意義。
2. 本人／我方確認有關所有根據協議與 PSHK 建立或將建立的合約及／或交易，本人／我方已委任輝立資本管理(香港)有限公司(CE No.: AEP527)（下稱為“認可人士”）作為本人／我方的代理人、律師及代表，以代表本人／我方行事，並特別代表本人／我方（但無限制）進行任何及所有有關該等合約及／或交易的討論，而且定時發出任何有關協議，或每份根據協議與 PSHK 建立或將建立的合約及／或交易的指令、確認或信息（下稱為“信息”），兩種情況均由認可人士全權酌情。因此，在合乎以下第三段的情況下，本人／我方在此：
(i) 授權 PSHK(1)認定認可人士作為本人／我方的代理人、律師及代表，擁有於各方面約束本人／我方的權力；並(2)兌現、遵守，以及信賴任何及全部由認可人士發出的、有關協議的信息；
(ii) 同意 PSHK 將有權認定任何由認可人士發出的信息，等同由本人／我方正式發出；以及
(iii) 同意本人／我方將批准、兌現及遵守任何及全部對 PSHK 的義務及／或承諾，而該等義務及／或承諾可能由認可人士建立或招致；而且同意本人／我方將對 PSHK 及其董事與僱員賠償任何因認可人士代表本人／我方行事而蒙受或產生的索賠、要求、令狀、傳票、法律行動、民事訴訟、法律訴訟、判決、命令、法令、處罰、費用、成本（包括按全面彌償基準的所有法律成本）、損失及傷害。
3. 儘管上述資料獲確認，認可人士並無權(i)由 PSHK 轉交應付本人／我方的支票；(ii)代表本人／我方由 PSHK 轉交實物股票；(iii)更改任何於開戶表格或客戶資料表格提供的資料，包括但不限於通訊地址；或(iv)結束任何以本人／我方名義開設的帳戶或於 PSHK 開設的帳戶。
4. 此委任函將於函件簽發日起十二（12）個月內有效，除非本人／我方最少七（7）日前以書面形式向 PSHK 撤銷此委任函。本人／我xx認 PSHK 將每年向本人／我方發出通知，確認本人／我方是否希望撤銷此項委任。本人／我方明白並確認此委任將透過該通知自動被更新，除非本人／我方於通知的有效期屆滿前明確地以書面提出撤銷。該項撤銷不應影響任何於撤銷生效前所建立或訂定或授權的合約、交易或行動的有效性；及／或不應影響任何一方於撤銷生效前已經承受的責任。
5. 風險警告 本人／我xx認透過委任一位第三方人士作為本人／我方的認可人士，本人／我方正賦予其實際及明顯的權力，以代表本人／我方處理帳戶；而且本人／我方已同意接受並假設該認可人士有可能濫用及越過本人／我方賦予的權力的潛在風險，因此本人／我方仍需對本人／我方並未授權或批准的交易行動負上責任。透過賦予此項全權委託交易權，本人／我方的認可人士可能於未經咨詢本人／我方，或尚未獲取本人／我方的事先同意或批准的情況下，生效任何交易。當本人／我方對簽署本函件的法律後果曾存有疑問時，本人／我方確認於簽署本函件前，本人／我方已經尋求獨立法律意見。
6. 當協議與此委任函所提供的資料出現任何爭議之時，以後者的規定為準。
7. 此委任函應當按照香港法例管轄和解釋，而本人／我方在此受制於香港法院的非專屬司法管轄權，並受制於任何
PSHK 可能提出任何訴訟的地方的司法管轄權。
Serial No:
此致
輝立證券(香港)有限公司
客戶簽署
客戶姓名 (如代表公司，請提供職銜)
見 證 人 #: 責 任 與 風 險 解 釋 人 #:
批核人#:
# 簽署、日期及姓名
帳戶與授權確認人#:
SCHEDULE VI
附 表 VI
Please tick √a box below to select the plan 請於空格內加上√號選擇計劃
□ Plan A
選擇計劃及收費詳情表格
PLAN SELECTION AND CHARGES FORM
收 費 Charges | |
管理費 Management Fee | 每年資產淨值的 2 % (Net Asset Value Annually) |
交易佣金 Trading Commission | 交易金額的 0.25%，印花稅，交易微費，交易費及中央結算費 |
表現費 Performance Fee | 免 / Free |
計劃期限 Contract Period | 沒 有 No Contract Period |
贖回費 Withdrawal | 沒 有 No Withdrawal Fee |
□ Plan B
收 費 Charges | |
管理費 Management Fee | 免 / Free |
交易佣金 Trading Commission | 交易金額的 0.25%，印花稅，交易微費，交易費及中央結算費 |
表現費 Performance Fee | 18 % 淨回報 Absolute Profit |
計劃開始日期 Commencement Date | _________________________ |
贖回費 Withdrawal Fee | 扣除所須費用後資產淨值的 2% 2% of Net Asset Value after all performance and management fee. |
□ Plan C
收 費 Charges | |
管理費 Management Fee | 每年資產淨值的 1 % (Net Asset Value Annually) |
交易佣金 Trading Commission | 交易金額的 0.25%，印花稅，交易微費，交易費及中央結算費 |
表現費 Performance Fee | 10 % 淨回報 Absolute Profit |
計劃開始日期Commencement Date | __________________________ |
贖回費 Withdrawal Fee | 扣除所須費用後資產淨值的 2% 2% of Net Asset Value after all performance and management fee. |
注意事項Notes:
1. 首個季度的管理費將以投資資產存入投資經理戶口之日起按比例支付。隨後的管理費將於每季度的首天支付。
Management Fee will be paid pro rata for the first quarter on the date on which the Investment Assets are deposited with the Investment Manager, and on the first day of each subsequent quarter.
2. 表現費將以投資資產存入投資經理戶口之日起的首個週年到期日支付；如客戶於週年到期日前贖回投資資產，需於贖回日支付表現費。
Performance Fee will be paid on the first anniversary of the date on which the Investment Assets are deposited with the Investment Manager, or if the Client withdraws the Investment Assets, on the Withdrawal Date.
3. 贖 回 費 Withdrawal Fee:
a. 如客戶於計劃開始日後的一年內贖回投資資產，贖回費將為資產淨值的 2%減去所有表現費。
Where withdrawal date falls within one year of the Commencement Date, the Withdrawal Fee shall be 2% of the Asset Value, less any Performance Fee.
b. 如客戶於計劃開始日後的一年至兩年內贖回投資資產，贖回費將為資產淨值的 1.5%減去所有表現費。
Where withdrawal date falls between one year and two years of the Commencement Date, the Withdrawal Fee shall be 1.5% of the Asset Value, less any Performance Fee.
c. 如客戶於計劃開始日後的兩年至三年內贖回投資資產，贖回費將為資產淨值的 1%減去所有表現費。
Where withdrawal date falls between two years and three years of the Commencement Date, the Withdrawal Fee shall be 1% of the Asset Value, less any Performance Fee.
d. 如客戶於計劃開始日後的三年至四年內贖回投資資產，贖回費將為資產淨值的 0.5%減去所有表現費。
Where withdrawal date falls between three years and four years of the Commencement Date, the Withdrawal Fee shall be 0.5% of the Asset Value, less any Performance Fee.
SCHEDULE VI
附 表 VI
e. 如客戶於計劃開始日起滿四年後贖回投資資產，則無需支付贖回費。
No Withdrawal Fee is payable if the withdrawal date falls after four years of the Commencement Date.
4. 所有費用皆不予退還。All fees are non-refundable.
本人明白及同意以上收費詳情。
BY SIGNING THIS FORM, I UNDERSTAND AND ACCEPT THE PLAN AND ITS DETAILS THAT I HAVE SELECTED ABOVE.
客 戶 簽 署 日 期
Client Signature: ___________________________ Date
客 戶 姓 名 批 核
Client Name: ______________________________ Approved By
PHILLIP CAPITAL MANAGEMENT (HK) LIMITED
ASSET MANAGEMENT AGREEMENT
Schedules:
1. Account opening form (Customer Information Form)
2. Personal Information Collection Statement
3. Risk Disclosure Statement
4. Investment Objectives, Strategies, Restrictions and Risk Disclosure
5. Plan Selection and Charges Form
6. Mandate for Discretionary Accounts with Phillip Securities (Hong Kong) Limited
In consideration of PHILLIP CAPITAL MANAGEMENT (HK) LIMITED (the “Investment Manager”) of 11th Floor, United Centre, 95 Queensway, Hong Kong which is a Licensed Corporation (CE No. AEP527) licensed with the Securities and Futures Commission in respect of carrying on the regulated activities of asset management and advising on securities agreeing to provide discretionary asset management services to the Client as identified in the Customer Information Form (the “Client”) who has opened one or more such asset management accounts with the Investment Manager, the Client HEREBY AGREES that it shall give sufficient authority to the Investment Manager to provide the discretionary asset management services and all the aforesaid services and the transactions in the aforesaid account(s) shall be subject to the Agreement (including without limitation the Asset Management Agreement and the Customer Information Form) as amended from time to time and notified to the Client. The current provisions of the Asset Management Agreement are hereinafter set out:
1. Definitions
1.1 In this Agreement, unless the context otherwise requires, the following words and phrases shall bear the following meanings:
“Account” | means the asset management account in the name of the Client to be opened and maintained by the Investment Manager in its books. |
“Agreement” | the written agreement between the Client and the Investment Manager regarding the opening, maintenance and operations of the Account(s) as amended from time to time, including but not limited to the Asset Management Agreement, the Customer Information Form, Risk Disclosure Statement, Data Privacy Policy and any authority given by the Client to the Broker with respect to the Account(s). |
“Associate” | Means in relation to the Investment Manager, a body corporate which is its subsidiary or affiliated company, in Hong Kong or elsewhere. |
“Broker” | means any company as the Client may from time to time appoint and agreed by the Investment Manager, including (without limitation) Xxxxxxx Xxxxxxxxxx (Hong Kong) Limited and Phillip Commodities (HK) Limited, for the purpose of executing investment orders, holding or providing the safe-keeping of all cash and investments comprising the Investment Assets. |
“business day” | means a day (other than Saturday) upon which banks are open for normal banking business in Hong Kong. |
“Customer Information Form” | means the form attached as Schedule 1. |
“Electronic Media” | any electronic or telecommunications media, including but not limited to the internet, interactive television systems, telephone, facsimile, wireless application protocol or any other electronic or telecommunications devices or systems as the Investment Manager may from time to time determine and prescribe; |
“HKFE” | means Hong Kong Futures Exchange Limited and includes its successors, assigns and any resulting or surviving entity into or with which it may consolidate, amalgamate or merge; |
“Investment” or “investments” | means all or any of the following: (a) any share, stock, warrant, unit trusts and mutual funds (including collective investment scheme authorised or not authorised under the Securities and Futures Ordinance), equity linked notes (ELN), equity linked instruments (ELI), debenture, loan stock, bond, note, certificate of deposit, commercial paper, acceptance, trade bill, treasury bill, bill of exchange or promissory note in, of or issued by or under the guarantee of any person; |
(b) any other instrument, asset or obligation (whether in the nature of equity or debt or otherwise) known or treated as an investment; (c) commodities, foreign exchange, spot and forward contracts, options, warrants, futures contracts, contracts for differences, swaps, exchanges and derivatives (whether or not linked to any way to any of the foregoing or to any money, index, securities or other asset, property of item); and (d) any item of any other description which may from time to time be agreed by the Investment Manager and the Client; in each case whether listed or unlisted, traded or not traded on any exchange or market, privately placed or publicly offered and whether or not constituted, evidenced or represented by a certificate or other document (bearer, negotiable or otherwise) or by an entry in the books of an issuer, a clearing house, a depository, a custodian or any other person, together with rights against any issuer, clearing house, depository, custodian or any other person in respect of the foregoing and other rights, benefits and proceeds in relation to any of the foregoing. | |
“Investment Account” | means the account as set out under Clause 4.1. |
“Investment Assets” | means all cash (in whatsoever currency), investments and other assets for the time being and from time to time held by or on behalf of the Broker and credited by the Investment Manager to the Account (comprising the moneys and investment deposited by the Client to the Account initially and all investments, reinvestments and proceeds of sale thereof, including without limitation, all dividends and interests on investments, and all appreciations thereof and additions thereto and additions thereto less depreciations thereof and withdrawals therefrom and otherwise). |
“Investment Guidelines” | means the investment guidelines and restrictions in relation to the management of the Investment Assets given by the Investment Manager to the Client in writing as amended from time to time. |
“margin trading” | means trading in investment by depositing cash or non-cash collateral (known as margin) with Broker to cover adverse movement in market risk of the concerned investment and in case of investment being securities, also has meaning of acquisition of securities on a lending basis; “margin basis” means the manner or basis of margin trading. |
“SEHK” | means the Stock Exchange of Hong Kong Limited and includes its successors, assigns and any resulting or surviving entity into or with which it may consolidate, amalgamate or merge. |
“SFC” | means the Securities and Futures Commission. |
1.2 In this Agreement, words importing the singular shall, where the context permits, include the plural and vice versa and words importing gender or neuter include both gender and neuter. The expression "person" shall include any firm, partnership, association of persons and body corporate and any such persons acting jointly and the personal representatives or successors in title of any such person. References to "writing" shall include texts transmitted through Electronic Media. Headings are for convenience only. Any reference to Clauses or Schedules in the Asset Management Agreement is a reference to the clauses of or the schedules to Asset Management Agreement, unless otherwise stated.
2. DISCRETION AND AUTHORITY OF THE INVESTMENT MANAGER
2.1 The Client hereby appoints the Investment Manager as agent and attorney-in-fact of the Client for the purpose of investing and reinvesting the Investment Assets in the Account on a discretionary basis in accordance with the terms and provisions set out in this Agreement. The Investment Manager hereby accepts such appointment by the Client as the investment manager in respect of the Account.
2.2 Subject to the terms and conditions contained in this Agreement and to any general or specific written directions made by the Client to, and agreed by, the Investment Manager, the Investment Manager shall have full authority and discretion (without prior reference to the Client) to invest, manage or otherwise deal with and exercise complete control over the Investment Assets and to give instructions to any Broker in connection with the performance by it of any of its obligations or the management of the Investment Assets hereunder. In exercising the authority and discretion conferred upon the Investment Manager hereunder, the Investment Manager shall be entitled to rely on its own judgement and/or any information, advice or opinion supplied or otherwise provided by any person to the Investment Manager.
2.3 Without limiting the generality of Clause 2.2, the Client hereby authorizes the Investment Manager to do any of the following acts in relation to the management of the Investment Assets, in each case in such manner, to such extent and on such terms as the Investment Manager thinks fit at its discretion but subject to the terms as otherwise agreed from time to time between the Investment Manager and the Client:
(A) hold, purchase (whether on cash basis or on margin basis), sell or otherwise deal with any Investment Assets;
(B) enter into contracts and commitments in respect of the Investment Assets and arrange for settlement of all necessary transactions or disposition of any Investment Asset (including without limitation payment of options premium, payment to meet margin requirements for futures and options contracts and under margin financing transactions);
(C) realise, exchange or convert all or any part of the Investment Assets for or into cash;
(D) deposit or withdraw, invest, reinvest and/or convert into any other currency any cash comprised in the Investment Assets;
(E) subscribe to or participate in the underwriting or sub-underwriting of any issue or sale of any Investment Assets (whether an initial public offer or not) with or without lending;
(F) subject to any specific written voting instructions given by the Client as beneficial owner of such assets, exercise or enforce, or decline to exercise or enforce, any power or right (including without any limitation any right to vote) in relation to any Investment or other asset comprised in the Investment Assets (including without limitation exercising call or put options); and
(G) generally do all acts and things which are necessary for or incidental to the provision of the services in connection with the management of the Investment Assets.
2.4 Subject to the investment restrictions set out in the Investment Guidelines, in the course of performing any act set out in Clause 2.3, the Investment Manager shall have authority to carry such act in the following manner at its absolute discretion :
(A) trade, purchase, sell, subscribe for issue of investments on a cash or margin basis with or without lending, enter into long or short position;
(B) borrow or lend investments through any market intermediary and to give authority and/or direction to such person; and
(C) subject to applicable laws and regulations, maintain with any market intermediary (including without limitation any Broker) any account which may be a cash or margin securities account, futures and options account or otherwise, an omnibus account or a segregated account and instruct such market intermediary to trade on such account.
2.5 The Client agrees that the Investment Manager may in its absolute discretion appoint any other person (including, without limitation, any Associate) as its nominees or agents (collectively, “Agents”) to perform any of the services pursuant to this Agreement on its behalf and may delegate any of its duties and powers under this Agreement to such Agents. By accepting this Agreement, the Client further agrees that provided that the Investment Manager has selected such Agent in good faith, the Investment Manager shall not be liable for any loss or damage suffered by the Client due to or in connection with any act or omission of such Agents.
2.6 The Investment Manager may combine the orders made on behalf of the Client or under Client’s instructions with its own orders or orders of its other clients for execution and may in its absolute discretion allocate the bought or sold Investments among the concerned persons, having due regard to market practice and fairness to such persons. The Client acknowledges and accepts that such combination and/or allocation may on some occasions operate to the Client’s advantages and on other occasions to the Client’s disadvantages.
2.7 The Client hereby acknowledges and agrees that all details recorded by the Investment Manager in respect of the Investment Assets and all transactions entered into and all payments and deductions made in connection therewith shall be conclusive and binding on the Client.
3. INVESTMENT OBJECTIVES AND GUIDELINES
3.1 Without prejudice to the generality of its appointment pursuant to Clause 2, the Investment Manager shall fully and comprehensively manage the Account on a discretionary basis.
3.2 The Investment Manager will invest the Investment Assets in accordance with the objectives and guidelines set out in Investment Guidelines. The Investment Manager reserves an absolute right to modify the Investment Guidelines at any time when it considers it is reasonable to do so. The changes will be communicated to the Client in writing. If the modification in Investment Guidelines results in any inconsistency with the composition of the Investment Assets for the time being, such inconsistency will not be regarded as a breach of the Investment Guidelines and the Client authorizes the Investment Manager to take whatever action within such necessary period of time at the discretion of the Investment Manager to resolve the inconsistency.
3.3 For the avoidance of doubt, the Investment Guidelines shall not be regarded as having been breached by reason of changes in the price of value of the Investment Assets which are due solely to market forces or movements in the market or other events beyond the Investment Manager’s control.
3.4 In the event that derivatives products are employed in managing the Investment Assets, the Investment Manager shall provide upon the Client’s request product specifications and any prospectus on the products, and full explanation of margin procedures and circumstances under which positions may be closed without the consent of the Client.
3.5 The Client may give instructions to the Investment Manager in relation to this Agreement. The Investment Manager is authorised (but not obliged) to act in accordance with and rely on each instruction given by the Client or any Authorised Person by any means of communication and the Investment Manager shall be entitled (but not obliged) to require any instruction to be confirmed by the Client. The Investment Manager shall have no obligation to enquire or investigate the genuineness or authenticity of any instruction, or to clarify or confirm any instruction, and the Client shall bear the risks arising directly or indirectly from any instruction.
4. CUSTODY
4.1 The Investment Assets shall be held by the Broker(s) in a segregated account(s) as agreed between the Investment Manager and the Client from time to time (the “Investment Account”). The Client acknowledges that Investment Account may be a cash account or a margin financing account imposed with margin requirements. The Client shall read, understand and accept the risks associated with margin financing as set out in Schedule III Risk Disclosure Statement prior to opening of such account with the Broker.
4.2 The Client shall pay and/or deliver and/or transfer the moneys and/or investments to the Investment Account in accordance with the minimum amount and on or before the date as prescribed by the Investment Manager.
4.3 The Investment Manager shall at no time have custody or physical control of the Investment Assets.
4.4 The Client shall maintain in force instructions to the Broker in respect of operations of the Investment Account maintained with any Broker to the effect that such Broker
(A) shall comply with any instructions of the Investment Manager given in accordance with this Agreement and shall give all necessary notifications referred to in this clause; and
(B) shall provide trade confirmations and daily/monthly statements as appropriate to the Investment Manager.
4.5 The Investment Manager shall not be responsible for any loss of whatsoever nature suffered by the Client for any act, error or omission on the part of any Broker or any nominee or agent selected by the Broker.
5. REPORTING
5.1 The Investment Manager shall submit to the Client each month a report on the condition of investment of the Investment Assets based on the monthly statements provided by the Broker.
5.2 Where the Investment Manager uses the market prices provided by a third party (e.g. stock exchange, commodity exchange, futures exchange or off exchange market) to calculate the total value of the Client’s Investment Assets, the Investment Manager shall calculate the total value of the Investment Assets of such Client account based on the close prices published on the date of settlement at the end of every quarter. If there is no completion of trading of a particular security on that day, the last quoted price published on the same day should be used instead. The Investment Manager shall use its best endeavours to ensure the completeness and accuracy of such report.
5.3 The Investment Manager will at a reasonable charge furnish the Client with a copy of all publicly available financial statements or records and other reports relating to securities included within the Investment Assets on basis of reasonable endeavours as the Client may reasonably request from time to time.
6. FEES AND CHARGES
6.1 As compensation for the Investment Manager’s services rendered hereunder, the Client will pay or will cause to be paid to the Investment Manager such management and performance fees as the Investment Manager may specify from time to time. The initial management and performance fees are to be calculated and charged on the basis set out in Schedule V of this Agreement. All such fees are non- refundable after payment in any event.
6.2 The Client shall elect to pay fees to the Investment Manager calculated and charged on the basis set out in the respective plan by providing the Investment Manager written notice of its election. In the event that the Client does not elect a plan, the Investment Manager may make the election and notify the Client within 7 days of the date of this Agreement.
6.3 The Investment Manager is entitled to review and / or revise any fees in the respective plan and / or the basis on which such fees are calculated and charged from time to time.
6.4 The Client shall be responsible for the payment of commission, custodian fee, tax and any other expenses incurred for management of the Investment Assets and shall reimburse the Investment Manager for such payment and the Client hereby authorizes the Investment Manager to deduct such payment out of the cash comprised in the Investment Assets or from the realization of Investment Assets.
7. SOFT DOLLAR AND CASH COMMISSION REBATES
7.1 The Client hereby agrees that the Investment Manager may receive goods or services (i.e. “soft dollars”) from the Broker(s) in consideration of directing transaction business on behalf of the Client to the Broker in a manner from time to time permitted by the SFC and provided that the goods or services are of demonstrable benefit to clients generally (whether or not in any particular case including the Client) of the Investment Manager and that transaction execution is consistent with best execution standards and brokerage rates are not in excess of customary full-service brokerage rate. Such goods and services may include but not be restricted to research and advisory services; economic and political analysis; portfolio analysis, including valuation and performance measurement; market analysis, data and quotation services; computer hardware and software incidental to the above goods and services; clearing and custodian services and investment-related publications. The Client hereby consents to the receipt by the Investment Manager of the aforementioned goods and services. In case the Investment Manager has received soft dollars from the Brokers, the Investment Manager shall provide the Client at least annually with a statement describing the Investment Manager’s soft dollar practices, including a description of the goods and services received by the Investment Manager during the preceding year.
7.2 The Client agrees that the Investment Manager may also receive and retain any cash or money brokerage commission rebates in relation to transactions effected for and on behalf of the Client and in relation to the management of the Investment Assets provided that the brokerage rates are not in excess of customary full-service brokerage rate. Moreover, the Investment Manager shall make disclosure of these rebates and their approximate value to the Client in accordance with the applicable regulations. Under the prevailing regulations, in case the Investment Manager has received rebates, the Investment Manager shall provide the Client at least twice annually with a statement showing the approximate value of the rebates.
8. LIABILITY AND INDEMNITY
8.1 Neither the Investment Manager and any Associate nor any of their officers, employees or agents, shall be liable for any error of fact or judgment or for any action taken or omitted to be taken unless to the extent that such error, action or omission arises as a direct result of the wilful default or gross negligence of the Investment Manager, Associate, or such officer, employee or agent.
8.2 Without prejudice to Clause 8.1, no representation or warranty is given by the Investment Manager as to the performance or profitability of any Investment purchased by the Investment Manager on behalf of the Client and neither the Investment Manager, nor any of its Associates, officers, employees or agents will in any circumstances be liable for any loss of opportunity whereby the value of the Investment Assets could have been increased or for any decline in such value. The Investment Manager does not guarantee that the Investment Assets or any part of it will not be affected by adverse tax consequences and the Client shall consult its own tax consultant for any advice on its tax affairs.
8.3 The Investment Manager shall not be responsible for any default of the Broker, any counterparty, bank, custodian or any party which holds Investment or title documents for the Client or with or through whom transactions on behalf of the Client are conducted in respect of the Investment Assets.
8.4 The Client shall indemnify the Investment Manager and its Associates, officers, employees and agents against all liabilities, losses, charges, demands, proceedings, costs and expenses which they may suffer, pay or incur as a result of or in connection with the performance by them in good faith of any of their obligations or the management of the Investment Assets hereunder unless due to their respective wilful default or gross negligence. The Investment Manager shall not be obliged to take any action on behalf of the Client unless the Investment Manager shall be satisfied that the Client has fully indemnified or secured the Investment Manager in respect of all costs and liabilities which may be incurred or suffered by the Investment Manager as a result of taking any such action.
8.5 Notwithstanding any other provisions of this Agreement, the Investment Manager shall not be responsible for any loss or expense suffered or incurred by the Client arising from any delay, failure or inability of the Investment Manager to discharge any of its obligations or liabilities under this Agreement as a result of any reason or cause beyond the Investment Manager’s reasonable control, including without limitation, any order, law, control, regulation, directive, levy tax, embargo, moratorium, exchange control or restriction or other act of any government whether de facto or de jure or other authority, any breakdown or failure of transmission or instruction or in computer facilities, postal or other strike, closure or suspension of trading on any exchange, board of trade, market or clearing house, any act of God, fire, flood, severe weather or explosion.
9. POTENTIAL CONFLICTS OF INTEREST AND DISCLOSURES
9.1 The Client hereby acknowledges that the Investment Manager, or any of its Associates, officers and employees may from time to time buy, sell and trade in securities for their own accounts. The Investment Manager and its Associates, officers and employees or other clients may at any time have, acquire, increase, decrease or dispose of positions in investments which are at the same time being acquired or disposed of for the Account. Furthermore, the Client acknowledges the existence of the Investment Manager’s and its Associates’, officers and employees’ material interest, relationship or arrangement that may involve a potential conflict with the Investment Manager’s duty to the Client. Any of the Investment Manager and its Associates, officers and employees shall not be liable to account to the Client for any profit, commission, remuneration made or received from or by reason of such transactions.
9.2 The Investment Manager may perform or continue to perform investment management services or other related services to other persons, and the performance of such services for others shall not be regarded as to violate or give rise to any duty or obligation to the Client.
10. CLIENT IDENTITY
10.1 In this Agreement, (a) the expression “ultimate beneficiary”, in relation to any transaction effected or to be effected on markets operated by the SEHK and/or HKFE for the Client pursuant to this Agreement, means each and every person who (i) is the principal for whom the Client is acting as agent in relation to such transaction or (ii) stands to gain the commercial or economic benefit of such transaction and/or to bear its commercial or economic risk or (iii) is ultimately responsible for giving the instruction in relation to such transaction and (b) the expression “identity information”, in relation to any person, means the true and full identity of such person, including such person’s alias(es), address(es), occupation(s) and contact details.
10.2 If, in respect of any transaction effected or to be effected on the markets operated by the SEHK and/or HKFE for the Client pursuant to this Agreement, the Client is acting as agent and the Client is for any
reason prevented from disclosing or providing to the Investment Manager identity information in respect of the ultimate beneficiary in respect of that transaction, the Client undertakes to provide such identity information to the relevant market, clearing house, or regulatory authority, including the SFC, the SEHK, HKFE, overseas exchanges and clearing houses or other governmental or regulatory authorities and entities (the “Relevant Regulators”) pursuant to any legal obligations and court orders directly within two business days (or such shorter period as the Relevant Regulators may reasonably specify for the purpose of this Clause 10.2) of receipt of a written request either from the Investment Manager or from the Regulators. The Client’s undertaking under this Clause 10.2 shall survive any termination of this Agreement.
10.3 If, in respect of any transaction effected or to be effected on the markets operated by SEHK and/or HKFE for the Client pursuant to this Agreement, the Client is acting as investment manager of any investment scheme, account or discretionary trust (or any other person) and the Client’s discretion is overridden by one or more of the beneficiaries of such scheme, account or trust (or such other person), the Client undertakes to (a) inform the Investment Manager of such arrangement and (b) provide the Investment Manager with identity information in respect of the ultimate beneficiary or such other person whose instructions have overridden the Client’s discretion. If for any reason the Client is prevented from disclosing or providing such identity information to the Investment Manager, the Client undertakes to provide such identity information to the Relevant Regulators directly within two business days (or such shorter period as the Relevant Regulators may reasonably specify for the purpose of this Clause 10.3 of the receipt of a written request either from the Investment Manager or from the Relevant Regulators. The Client’s undertaking under this Clause 10.3 shall survive any termination of this Agreement. Notwithstanding the foregoing paragraph, the Investment Manager is entitled to require the Client to disclose the said identity information direct to the Investment Manager and is entitled to terminate this Agreement and close the Account if the Client fails to comply with such requirements.
10.4 If, in respect of any transaction effected or to be effected on the SEHK and/or HKFE for the Client pursuant to this Agreement, the Client is acting as an intermediary in a jurisdiction with client secrecy laws, the Client confirms that (a) an agreement has been entered into by the ultimate beneficiary in respect of such transaction that waives the benefit of such secrecy laws in respect of providing to the Relevant Regulators the information required by the Relevant Regulators upon request pursuant to Clauses 10.1, 10.2 and 10.3 and (b) such agreement is legally binding under the relevant foreign law.
10.5 Where the Customer is an Intermediary as defined in the Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (“AMLO”), the Customer undertakes the following:
(A) Maintenance of internal policies, procedures and controls to comply with anti-money laundering/countering the financing of terrorist laws, regulations, and guidelines including performing ongoing monitoring of clients and their transactions;
(B) Performance of the client due diligence measures specified in section 2 of schedule 2 of AMLO; and
(C) Provision without delay of the documentary evidence obtained in the course of carrying out client due diligence measures upon request from overseas or local regulators or the Company.
11. WARRANTIES GIVEN BY THE CLIENT
11.1 The Client represents and warrants on continuous basis that
(A) the Client has full power and capacity to enter into this Agreement;
(B) the Client is the beneficial owner of the Investment Assets (including those transferred to the Investment Account under Clause 4.2) or has obtained the necessary authorization from the beneficial owner to have adequate power as required by this Agreement to deal with the Investment Assets which are free from liens, charges or other encumbrances and no liens, charges or other encumbrances shall arise from any acts or omissions of the Client;
(C) the information given by the Client to the Investment Manager in Customer Information Form or otherwise in connection with the opening and operations of the Account is true, complete and accurate and the Investment Manager is entitled to rely on such information until the Investment Manager receives written notice from the Client of any change thereto; and
(D) the Client will maintain in full force, validity and effect all governmental and other approvals, authorizations, licences and consents required on him under applicable laws and regulations in connection with the Agreement.
11.2 The Client undertakes not to deal, except through the Investment Manager, with any of the Investment Assets or to authorize anyone else to do so.
11.3 The Client undertakes to supply to the Investment Manager on demand at any time or times such financial and other information about the Client as the Investment Manager may request.
11.4 Without prejudice to Clause 10, the Client shall promptly give (or procure to be given) to the Investment Manager such information as the Investment Manager may require to enable it to comply with the requirements by the SEHK, HKFE, the SFC or other overseas exchanges and clearing houses or share registrar or other entities pursuant to any legal obligations and court orders. The Client also authorizes the Investment Manager to make such disclosure.
11.5 The Client acknowledges that the Client has received, read and understood the contents of Schedule III Risk Disclosure Statement.
12. GENERAL
12.1 The Client undertakes with the Investment Manager to do and execute (and irrevocably authorizes to do and execute on the Client’s behalf) any act, deed, document or thing which the Investment Manager may require the Client to do in connection with the implementation, execution and enforcement of any of the terms and any rights conferred by this Agreement including without limitation the execution of the Client of an irrevocable power of attorney appointing the Investment Manager as its lawful attorney to do and execute all such acts, deed, documents or things on behalf of the Client as it considers necessary or desirable in connection with such implementation, execution and enforcement of this Agreement and the Client agrees to ratify or confirm all such acts, deed, documents or things by the Investment Manager.
12.2 The Client understands that the Client has supplied or may from time to time supply to the Investment Manager personal data about the Client (the “Personal Data”), within the meaning ascribed in the Personal Data (Privacy) Ordinance (Chapter 486 of the laws of Hong Kong) (the “Privacy Ordinance”), in connection with the opening or maintenance of any Account or the provision of services pursuant to this Agreement to the Client. The Client acknowledges that the Client is not required to provide any Personal Data to the Investment Manager unless the Client chooses to do so. However, if the Client fails to supply any such Personal Data, the Investment Manager may not be able to operate an Account(s) for the Client and/or provide the Client with any services.
12.3 The Client acknowledges that the Client has read the contents of Schedule II Personal Information Collection Statement and agreed to the terms in it.
12.4 The Client shall be responsible for filing any tax returns and reports on any transactions undertaken by the Investment Manager for the Account and in respect of the Account and for the payment of all taxes due on capital or income held or collected by the Investment Manager for the Client.
12.5 The Investment Manager shall not, during the continuance of this Agreement, or after its termination, disclose to any person (except with the written authority of the Client or unless required by law or any regulatory authority) any information of a confidential nature relating to the affairs of the Client which may come to the Investment Manager’s knowledge during the period of this Agreement. The Client shall similarly hold confidential and shall not disclose to any person information, not already in the public domain, which is provided by the Investment Manager to the Client in its portfolio reports.
12.6 In the case of the Client consisting of two or more individuals, their obligations under this Agreement shall be joint and several, the Investment Manager shall be entitled (but not bound) to rely on and act in accordance with any instruction, authorization or notice given by any one of them and, on the death of any of them (other than a sole survivor), this Agreement shall not terminate and the interest of the deceased in the Investment Assets and otherwise hereunder shall automatically ensure to the benefit of the survivor(s). The Investment Manager reserves the right to require written instructions from all such individuals at its discretion. Any delivery of payments or Investment Assets to any one of such individuals shall be a valid and complete discharge of the Investment Manager’s obligations to each individual regardless of whether such delivery is made before or after the death of any one or more of such individuals.
12.7 Without prejudice to the right of the Investment Manager under Clause 2.5, this Agreement is personal to the parties hereto and neither party shall be entitled to assign or transfer any of its rights or obligations hereunder without the prior written consent of the other. However, the Investment Manager may delegate, at its own costs, all or any part of its functions, powers, discretion, privileges and duties hereunder or any of them to any person, firm or corporation and any such delegation may be on such terms and conditions as the Investment Manager thinks fit.
12.8 The parties hereby undertake to notify the other party of any material change in the information provided in the Agreement.
12.9 This Agreement sets forth the entire agreement and understanding between the parties hereto as to the matters set out herein and supersedes all previous representations, agreements, understandings, whether oral or written, between them.
12.10 If any of the provisions of this Agreement is or becomes invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired.
12.11 The Investment Manager may amend the terms of this Agreement by giving the Client reasonable notice of the changes in writing at any time. Any amendment to this Agreement shall take effect of expiry of such notice period and the Client will be deemed to have accepted the amendment if it does not terminate the Account.
12.12 This Agreement may be translated into Chinese language but in the event of any conflict arising the English version shall prevail. The Chinese version of this Agreement will be provided upon request.
13. TERMINATION
13.1 This Agreement shall, or (as the case may be) shall be treated as having, come into effect as from the date of this Agreement and shall continue to be in force unless and until terminated by either party giving to the other notice in writing subject to other provisions in this Clause and Schedule V to this Agreement. Notwithstanding the foregoing, the Client has no right to terminate this Agreement if the Client has sums owing to the Investment Manager, open position or any other outstanding liabilities or obligations.
13.2 Termination of this Agreement pursuant to Clause 13.1 shall be without prejudice to all acts performed by the Investment Manager prior to the termination and such acts shall be valid and binding upon the Client and his successor in title.
13.3 Upon the termination of this Agreement, all amounts (including, without limitation, all accrued fees and expenses and any additional expenses incurred by the Investment Manager in terminating this Agreement) owing by the Client to the Investment Manager shall become immediately due and the Client shall pay all such amount to the Investment Manager (including without limitation all the fees payable under Clause 6.)
13.4 The Client shall not be entitled to withdraw the whole or any part of the Investment Assets except upon giving to the Investment Manager 7 (seven) business days’ notice to that effect and payment of the necessary expenses for effecting such withdrawal.
13.5 The term of this Agreement will extend automatically for successive 12 month terms unless the Client gives the Investment Manager written notice of termination. The Investment Manager will give notice to the Client at least 14 days prior to the last trading day of such 12-month period (the “Expiration Date”) and the Client must give notice before the Expiration Date in order to terminate the Agreement.
13.6 In the event that the Investment Manager does not receive any termination instruction from the Client in accordance with clause 13.5 above, the Investment Manager is entitled to assume that the client has elected to extend the term of this Agreement for an additional 12 months.
14. INSTRUCTIONS AND NOTICES
14.1 All notices under this Agreement shall be in writing, sent by electronic mails, facsimile or post to the party to receive the same, at the Investment Manager’s address shown on the Client’s address set out in the Customer Information Form, or at each other’s address as each party shall have specified to the other party by written notice similarly given.
14.2 The Investment Manager may rely and act on any notifications, instructions or other communication that purports and is reasonably believed by the Investment Manager to have been given by the Client. All such notifications, instructions or other communication shall be binding on the Client and the Investment Manager shall not be liable for acting on such instructions and has no duty to verify the identity or authority of any person giving such instructions or the authenticity of them.
15. GOVERNING LAW
This Agreement and the interpretation and application of the provisions hereof shall be governed by and construed in accordance with the laws of the Special Administrative Region of Hong Kong and the Client hereby irrevocably submits to the non-exclusive jurisdiction of the Hong Kong courts.
SCHEDULE II
PERSONAL INFORMATION COLLECTION STATEMENT
1. Disclosure Obligation
Unless otherwise stated the Customer must supply the personal data requested on the enclosed Account Opening Form to Phillip Capital Management (HK) Limited. If the Customer does not supply this data, it will not be possible for the Customer to open an account with the Company as the Company will not have sufficient information to open and administer the Account.
2. Use of Personal Data
2.1 Users
All personal data concerning the Customer (whether provided by the Customer or any other person, and whether provided before or after the date the Customer receives the Agreement containing this information) may be used by any of the following companies or persons (each, a “User”):
(i) any Phillip Capital Management (HK) Limited and/or any of its Associates (the “Group”);
(ii) any director, officer or employee or agent of the Group;
(iii) any person (such as lawyers, advisers, nominee, custodian etc.) authorized by the Group when carrying out the Customer’s Instructions and/or the business of the Group;
(iv) any actual or proposed assignee of any rights and obligations of the Group in relation to the Customer; and
(v) any governmental, regulatory or other bodies or institutions, whether as required by law or regulations applicable to any member of the Group.
2.2 Purposes
All personal data concerning the Customer may be used by any User for the following purposes:
(i) carrying out new or existing client verification and credit checking procedures and assisting other financial institutions to do so;
(ii) ongoing account administration, including the collection of amounts due, enforcement of security, charge or other rights and interests;
(iii) designing further products and services or marketing a Group Product to the Customer.
(iv) transfer of such data to any place outside Hong Kong;
(v) comparison with the Customer’s personal data (irrespective of the purposes and sources for which such data were collected, and whether collected by a User or any other person) for the purpose of: (A) credit checking; (B) data verification; and/or (C) otherwise producing or verifying data which may be used for the purpose of taking such action that a User or any other person may consider appropriate (including action that may relate to the rights, obligations or interest of the Customer or any other person);
(vi) providing on the terms of any other agreements and services relating to the Customer;
(vii) any purpose relating to or in connection with compliance with any law, regulation, court order or order of any regulatory body; and
(viii) any other purpose relating to the execution of the Customer’s Instructions or in connection with the business or dealings of the Group.
2.3 Use of Data in Direct Marketing
The Company intends to use and/or transfer the Customer’s data to its Associates for direct marketing and the Company requires the consent (including no objection) of the Customer for that purpose. In this connection, please note that:
(i) the name, contact details, portfolio information, transaction pattern and financial background of the Customer may be used in direct marketing of investment or financial related products and services of the Group; and
(ii) If a Customer does not wish the Company to use and/or transfer the Customer’s data for use in direct marketing, the Customer may, without charge, exercise the right to opt-out.
3. Rights of Access and Correction
The Customer has the right to have access to and correction of the Customer’s personal data as set out in the Ordinance. In general, and subject to certain exemptions, the Customer is entitled to:
(i) enquire whether Phillip Capital Management (HK) Limited holds personal data in relation to the Customer;
(ii) request access to the Customer’s personal data within a reasonable time, at a fee which is not excessive, in a reasonable manner and in a form that is intelligible;
(iii) request the correction of the Customer’s personal data; and
(iv) be given reasons if a request for access or correction is refused, and object to any such refusal.
4. Contact Person
If the Customer wishes to request access to and/or correct personal data and/or opt out of receiving direct marketing material, the Customer should contact the Data Protection Officer on 2277 6555 or xx@xxxxxxx.xxx.xx.
SCHEDULE III
RISK DISCLOSURE STATEMENT
1. Risk of securities trading
The prices of securities fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities.
2. RISK OF TRADING FUTURES AND OPTIONS
The risk of loss in trading futures contracts or options is substantial. In some circumstances, you may sustain losses in excess of your initial margin funds. Placing contingent orders, such as “stop-loss” or “stop-limit” orders, will not necessarily avoid loss. Market conditions may make it impossible to execute such orders. There is a possibility that any stop-loss order may be cancelled by a futures exchange due to various reasons including where orders are ‘out of price limits’ during a fluctuating market. You should closely monitor your orders, as we may be unable to contact you in the event of cancellation. You may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, your position may be liquidated. You will remain liable for any resulting deficit in your account. You should therefore study and understand futures contracts and options before you trade and carefully consider whether such trading is suitable in the light of your own financial position and investment objectives. If you trade options you should inform yourself of exercise and expiration procedures and your rights and obligations upon exercise or expiry.
3. Risk of trading Growth Enterprise Market stocks
3.1 Growth Enterprise Market (“GEM”) stocks involve a high investment risk. In particular, companies may list on GEM with neither a track record of profitability nor any obligation to forecast future profitability. GEM stocks may be very volatile and illiquid.
3.2 You should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors.
3.3 Current information on GEM stocks may only be found on the internet website operated by the SEHK. GEM companies are usually not required to issue paid announcements in gazetted newspapers.
3.4 You should seek independent professional advice if you are uncertain of or have not understood any aspect of this risk disclosure statement or the nature and risks involved in trading of GEM stocks.
4. RISK OF MARGIN TRADING
The risk of loss in financing a transaction by deposit of collateral is significant. You may sustain losses in excess of your cash and any other assets deposited as collateral with the licensed or registered person. Market conditions may make it impossible to execute contingent orders, such as "stop-loss" or "stop-limit" orders. You may be called upon at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated without your consent. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. You should therefore carefully consider whether such a financing arrangement is suitable in light of your own financial position and investment objectives.
5. Risks of client assets received or held outside Hong Kong
Client assets received or held by the Broker or its nominee(s) outside Hong Kong are subject to the applicable laws and regulations of the relevant overseas jurisdiction which may be different from the Securities and Futures Ordinance (Cap. 571) and the rules made thereunder. Consequently, such client assets may not enjoy the same protection as that conferred on client assets received or held in Hong Kong.
6. Risk of trading Nasdaq-Amex securities on the SEHK
The securities under the Nasdaq-Amex Pilot Program (“PP”) are aimed at sophisticated investors. You should consult the Broker and become familiarized with the PP before trading in the PP securities. You should be aware that the PP securities are not regulated as a primary or secondary listing on the Main Board or GEM of the SEHK.
7. RISK RELATING TO SECURITIES DENOMINATED IN RENMINBI (RMB)
RMB is not freely convertible. Conversion between RMB and foreign currencies (including Hong Kong dollar) is subject to PRC regulatory restrictions which may affect the liquidity of the RMB denominated securities.
As RMB denominated securities may have regular trading or an active market. Therefore you may not be able to sell your investment on a timely basis, or you may have to sell the product at a deep discount to its value.
The Hong Kong dollar value of your investment will go down if the RMB depreciates against the Hong Kong dollar.
8. RISK OF TRADING FOREIGN SECURITIES, INCLUDING B SHARES LISTED IN THE PEOPLE’S REPUBLIC OF CHINA
You should only undertake trading of foreign securities if you understand the nature of foreign securities trading and the extent of your exposure to risks. In particular, foreign securities trading is not regulated by the SEHK and will not be covered by the Investor Compensation Fund. You should carefully consider whether such trading is appropriate for you in light of your experience, risk profile, and other relevant circumstances, and seek independent professional advice if you are in doubt.
9. Risk Relating to Collective Investment Schemes
Collective Investment Schemes may invest extensively (up to 100%) in financial derivative instruments, fixed income securities and /or structured products (including, but not limited to credit default swaps, sub-investment grade debt, mortgage-backed securities and other asset-backed securities) and be subject to various risks (including but not limited to counterparty risk, liquidity risk, credit risk, and market risk). Collective Investment Schemes may use trading strategies that use financial derivative instruments which may be unsuccessful due to a number of reasons; including but not limited to volatile market conditions, imperfect correlation between the movements in securities on which derivatives are based, lack of liquidity within markets and counterparty default risk.
10. GENERAL RISK OF TRADING IN DERIVATIVES AND STRUCTURED PRODUCTS General
Issuer default risk: In the event that a structured product issuer becomes insolvent and defaults on their listed
securities, investors will be considered as unsecured creditors and will have no preferential claims to any assets held by the issuer. Investors should therefore pay close attention to the financial strength and credit worthiness of structured product issuers.
Uncollateralised product risk: Uncollateralised structured products are not asset backed. In the event of issuer bankruptcy, investors can lose their entire investment. Investors should read the listing documents to determine if a product is uncollateralised.
Gearing risk: Structured products such as derivative warrants and callable bull/bear contracts (CBBCs) are leveraged and can change in value rapidly according to the gearing ratio relative to the underlying assets. Investors should be aware that the value of a structured product may fall to zero resulting in a total loss of the initial investment.
Expiry considerations: Structured products have an expiry date after which the issue may become worthless. Investors should be aware of the expiry time horizon and choose a product with an appropriate lifespan for their trading strategy.
Extraordinary price movements: The price of a structured product may not match its theoretical price due to outside influences such as market supply and demand factors. As a result, actual traded prices can be higher or lower than the theoretical price.
Foreign exchange risk: Investors trading structured products with underlying assets not denominated in Hong Kong dollars are also exposed to exchange rate risk. Currency rate fluctuations can adversely affect the underlying asset value, also affecting the structured product price.
Liquidity risk: The Exchange requires all structured product issuers to appoint a liquidity provider for each individual issue. The role of liquidity providers is to provide two way quotes to facilitate trading of their products. In the event that a liquidity provider defaults or ceases to fulfill its role, investors may not be able to buy or sell the product until a new liquidity provider has been assigned.
11. SPECIFIC RISK OF TRADING DERIVATIVE WARRANTS (“DW”)
Time decay risk: All things being equal, the value of a derivative warrant will decay over time as it approaches its expiry date. Derivative warrants should therefore not be viewed as long term investments.
Volatility risk: Prices of derivative warrants can increase or decrease in line with the implied volatility of underlying asset price. Investors should be aware of the underlying asset volatility
12. SPECIFIC RISK OF TRADING CALLABLE BULL/BEAR CONTRACTS (“CBBC”)
Mandatory call risk: Investors trading CBBCs should be aware of their intraday “knockout” or mandatory call feature. A CBBC will cease trading when the underlying asset value equals the mandatory call price/level as stated in the listing documents. Investors will only be entitled to the residual value of the terminated CBBC as calculated by the product issuer in accordance with the listing documents. Investors should also note that the residual value can be zero.
Funding costs: The issue price of a CBBC includes funding costs. Funding costs are gradually reduced over time as the CBBC moves towards expiry. The longer the duration of the CBBC, the higher the total funding costs. In the event that a CBBC is called, investors will lose the funding costs for the entire lifespan of the CBBC. The formula for calculating the funding costs are stated in the listing documents.
13. SPECIFIC RISK OF TRADING EXCHANGE TRADED FUNDS (“ETFs”)
Market risk: ETFs are typically designed to track the performance of certain indices, market sectors, or groups of assets such as stocks, bonds, or commodities. ETF managers may use different strategies to achieve this goal, but in general they do not have the discretion to take defensive positions in declining markets. Investors must be prepared to bear the risk of loss and volatility associated with the underlying index/assets.
Tracking errors: Tracking errors refer to the disparity in performance between an ETF and its underlying index/assets. Tracking errors can arise due to factors such as the impact of transaction fees and expenses incurred to the ETF, changes in composition of the underlying index/assets, and the ETF manager’s replication strategy. (The common replication strategies include full replication/representative sampling and synthetic replication which are discussed in more detail below.)
Trading at discount or premium: An ETF may be traded at a discount or premium to its Net Asset Value (NAV). This price discrepancy is caused by supply and demand factors, and may be particularly likely to emerge during periods of high market volatility and uncertainty. This phenomenon may also be observed for ETFs tracking specific markets or sectors that are subject to direct investment restrictions.
Foreign exchange risk: Investors trading ETFs with underlying assets not denominated in Hong Kong dollars are also exposed to exchange rate risk. Currency rate fluctuations can adversely affect the underlying asset value, also affecting the ETF price.
Liquidity risk: Securities Market Makers (SMMs) are Exchange Participants that provide liquidity to facilitate trading in ETFs. Although most ETFs are supported by one or more SMMs, there is no assurance that active trading will be maintained. In the event that the SMMs default or cease to fulfill their role, investors may not be able to buy or sell the product.
輝立資本管理(香港)有限公司
Schedule IV
Phillip Capital Management (HK) Limited
Important Note March 2013
If you are in any doubt about the following, you should consult your stockbroker, bank manager, solicitor, accountant or independent financial advisor.
Investment Guidelines, Strategies, Restrictions & Risk Disclosure
OBJECTIVES:
• We aim to achieve long-term growth of both capital and income on underlying investments from a global perspective, although investments are expected to be made primarily in the Hong Kong and US markets. This hybrid feature will be particularly appealing to those investors who wish to have a regular income stream to meet certain predefined on-going expenses on the one hand and have a possibility of appreciation of investment portfolio for wealth accumulation on the other.
• To keep the overall portfolio risk to a generally acceptable level to yield a risk-adjusted return that could surpass those of comparable market indices or portfolios over a medium to long period of time.
STRATEGIES:
• Our stock selection is based on the philosophy of value investing which essentially requires a careful analysis of the underlying value and growth prospect of a stock, targeted at realizing our objectives.
• Stock selection approach could be either top-down or bottom-up, depending on the geographical and sectorial upside potential.
• Investments may also be made in initial public offerings to cash in on profitable opportunities.
• Portfolio rebalancing will be conducted regularly to minimise risk on portfolio and individual stock.
• The investment portfolio shall be actively managed instead of replicating a market portfolio (passively).
• There isn’t a specific time horizon for holding investments in a portfolio. Although it is not a strategy of Phillip Capital Management (HK) Limited (“PCM”) to undertake short-term speculation, the time span should be long enough to reflect the intrinsic value of the various investments in a portfolio assuming stock and market cyclicality set in. A horizon of, say, 3 years would generally be an acceptable timespan for measurement of reasonable performance, given the investment restrictions outlined below.
• Currently, our investment policy provides for a Stop Loss Review whenever the price of a stock is down by 15% from its initial purchase price or down further by every 10% from the same.
RESTRICTIONS:
• To avoid excessive risk, we will not normally invest in stocks of which the margin ratio, which may be determined and amended from time to time by Xxxxxxx Xxxxxxxxxx (Hong Kong) Limited, is below 30%.
• No investment in warrants or stocks listed on Growth Enterprise Market Board are allowed.
• No cash or stock borrowing or short-selling is allowed.
• No investment in a single security shall exceed 30% of the aggregate value of a client’s portfolio at the time of investment.
• No investment shall be made in derivatives; this shall typically include futures and options.
• Besides the above restrictions, where applicable, we follow the “Permissible Investment Asset Classes” under “Rules for the Capital Investment Entrant Scheme” enforced by Immigration Department (H.K.S.A.R.) for Capital Investment Entrant Scheme clients.
RISK DISCLOSURE:
• While reasonable and prudent judgment should guide every investment manager at PCM, the financial markets are inherently subject to a host of risks, such as market risk, liquidity risk, settlement risk, interest rate risk, and exchange rate risk etc. that almost no investment manager could confidently avoid.
• Every investor is thus susceptible to a certain degree of risks that he/she is expected to take on.
• The portfolio value may go up or down and in the worst scenario it may become worthless since any portfolio under our management is not a capital preservation or capital guarantee investment.
• Risk-aversive investors are reminded they should take every care to consider the above in respect of their investment objectives and experience, and financial condition, etc. before committing to any investment plan.
• The foregoing are only guidelines to provide investors with an idea how a portfolio is expected to be managed by us. However, the size of the portfolio will affect effective implementation of our strategies and that not only affects the accomplishment of the objectives, but will also poses additional risks to the portfolio so managed by us.
Schedule V
Serial No:
Client’s Name:
Date:
Account No:
ID Card /Passport No:
Phillip Securities (HK) Limited (“PSHK”)
11/F, United Centre 95 Queensway, Hong Kong
Address:
Telephone: (O) (H)
(M) (Pg)
Dear Sirs
MANDATE FOR DISCRETIONARY ACCOUNTS WITH PSHK -
Appointment of Authorized Person
1. I/We refer to my/our Asset Management Agreement with Phillip Capital Management (HK) Limited and Cash Client Agreement with PSHK (hereinafter referred to as the "Agreement"). Terms defined in the Agreement shall have the same meanings herein unless otherwise specified.
2. I/We confirm that in respect of all contracts and/or transactions entered or to be entered into with PSHK pursuant to the Agreement, I/we have appointed PHILLIP CAPITAL MANAGEMENT (HK) LIMITED (CE No.: AEP527) (the "Authorized Person") as my/our agent, attorney and representative to act on my/our behalf, to represent me/us and in particular (but without limitation) to enter into any and all discussions in relation thereto and from time to time issue any order, confirmation or confirmations or communications in respect of the Agreement or each and every contract and/or transaction entered or to be entered into with PSHK pursuant to the Agreement (“Communication”), in each case on the sole discretion of the Authorized Person. Accordingly, subject to paragraph 3 below, I/we hereby:
(i) authorize PSHK to (1) treat the Authorized Person as my/our agent, attorney and representative having the authority to bind me/us in all respects and (2) honour, comply with and rely upon any and all Communications issued by the Authorized Person in relation to the Agreement;
(ii) agree that PSHK will be entitled to treat any Communication issued by the Authorized Person as if it had been duly issued by me/us; and
(iii) agree that I/we will ratify, honour and comply with any and all obligations and/or commitments to PSHK which may be entered into or effected through the Authorized Person, and that I/we will indemnify PSHK and its directors and employees against any claims, demands, writs, summons, actions, suits, proceedings, judgments, orders, decrees, penalties, expenses, costs (including legal costs on a full indemnity basis), losses and damages however arising which any of them may sustain or incur by reason of the Authorized Person acting as such on my/our behalf.
3. Notwithstanding the foregoing, no Authorized Person shall have authority to (i) take delivery from PSHK of cheques made payable to me/us; (ii) take delivery from PSHK physical scrip on my/our behalf; (iii) change any information supplied in the Account Opening Form/Customer Information Form, including but not limited to correspondence address(s); or (iv) close any Account or Accounts with PSHK in my/our name(s).
4. This letter of appointment shall be valid for a period of twelve (12) months from the date hereof unless revoked by me/us by at least seven (7) days’ prior written notice to PSHK. I/we acknowledge that PSHK may
send a notification to confirm with me/us on an annual basis whether I/we wish to revoke such authority. I/we understand and acknowledge that such authority may be automatically renewed by such notification unless I/we specifically revoke it in writing before the expiry date. Such revocation shall not affect the validity of any contracts, transactions or acts entered into or committed or authorized to be entered into or committed before the revocation become effective and/or shall not affect any liability of either party already incurred prior to such revocation.
Serial No:
5. RISK WARNINGS. I/WE ACKNOWLEDGE THAT BY APPOINTING A THIRD PARTY AS MY/OUR AUTHORIZED PERSON, I/WE AM/ARE CONFERRING ON IT ACTUAL AND APPARENT AUTHORITY TO DEAL ON THE ACCOUNT FOR AND ON MY/OUR BEHALF AND THAT I/WE HAVE AGREED TO ACCEPT AND ASSUME THE RISK THAT THE AUTHORIZED PERSON MAY ABUSE AND EXCEED THE AUTHORITY CONFERRED BY ME/US AND THUS RENDERING ME/US LIABLE FOR TRANSACTIONS WHICH I/WE HAVE NOT IN FACT AUTHORISED OR APPROVED. IN GRANTING THIS DISCRETIONARY TRADING AUTHORITY, MY/OUR AUTHORIZED PERSON MAY EFFECT ANY TRANSACTIONS WITHOUT CONSULTING ME/US OR OBTAINING MY/OUR PRIOR CONSENT OR APPROVAL. WHERE I/WE WAS/WERE UNCERTAIN OF THE LEGAL CONSEQUENCES OF SIGNING THIS DOCUMENT, I/WE CONFIRM THAT I/WE HAD SOUGHT INDEPENDENT LEGAL ADVICE BEFORE SIGNING THE SAME.
6. Where any conflict arises between the Agreement and the provisions of this letter of appointment, the provisions of the latter shall prevail.
7. This letter of appointment shall be governed by and construed in accordance with the laws of Hong Kong, and I/we hereby submit to the non-exclusive jurisdiction of the Hong Kong courts and to the jurisdiction of any courts where PSHK may initiate any proceedings.
Yours faithfully
Signature
Name (and Title & Company if representing company)
Witnessed by#: Liabilities & Risk Explanation by#:
Approved by#:
# Signature, Date & Name
Account & Mandate Verified by#:
SCHEDULE VI
附 表 VI
Please tick √a box below to select the plan 請於空格內加上√號選擇計劃
□ Plan A
選擇計劃及收費詳情表格
PLAN SELECTION AND CHARGES FORM
收 費 Charges | |
管理費 Management Fee | 每年資產淨值的 2 % (Net Asset Value Annually) |
交易佣金 Trading Commission | 交易金額的 0.25%，印花稅，交易微費，交易費及中央結算費 |
表現費 Performance Fee | 免 / Free |
計劃期限 Contract Period | 沒 有 No Contract Period |
贖回費 Withdrawal | 沒 有 No Withdrawal Fee |
□ Plan B
收 費 Charges | |
管理費 Management Fee | 免 / Free |
交易佣金 Trading Commission | 交易金額的 0.25%，印花稅，交易微費，交易費及中央結算費 |
表現費 Performance Fee | 18 % 淨回報 Absolute Profit |
計劃開始日期 Commencement Date | _________________________ |
贖回費 Withdrawal Fee | 扣除所須費用後資產淨值的 2% 2% of Net Asset Value after all performance and management fee. |
□ Plan C
收 費 Charges | |
管理費 Management Fee | 每年資產淨值的 1 % (Net Asset Value Annually) |
交易佣金 Trading Commission | 交易金額的 0.25%，印花稅，交易微費，交易費及中央結算費 |
表現費 Performance Fee | 10 % 淨回報 Absolute Profit |
計劃開始日期 Commencement Date | __________________________ |
贖回費 Withdrawal Fee | 扣除所須費用後資產淨值的 2% 2% of Net Asset Value after all performance and management fee. |
Notes:
1. Management Fee will be paid pro rata for the first quarter on the date on which the Investment Assets are deposited with the Investment Manager, and on the first day of each subsequent quarter.
2. Performance Fee will be paid on the first anniversary of the date on which the Investment Assets are deposited with the Investment Manager, or if the Client withdraws the Investment Assets, on the Withdrawal Date.
3. Withdrawal Fee:
a. Where withdrawal date falls within one year of the Commencement Date, the Withdrawal Fee shall be 2% of the Asset Value, less any Performance Fee.
b. Where withdrawal date falls between one year and two years of the Commencement Date, the Withdrawal Fee shall be 1.5% of the Asset Value, less any Performance Fee.
c. Where withdrawal date falls between two years and three years of the Commencement Date, the Withdrawal Fee shall be 1% of the Asset Value, less any Performance Fee.
d. Where withdrawal date falls between three years and four years of the Commencement Date, the Withdrawal Fee shall be 0.5% of the Asset Value, less any Performance Fee.
e. No Withdrawal Fee is payable if the withdrawal date falls after four years of the Commencement Date.
4. All fees are non-refundable.
本人明白及同意以上收費詳情
BY SIGNING THIS FORM, I UNDERSTAND AND ACCEPT THE PLAN AND ITS DETAILS THAT I HAVE SELECTED ABOVE.
客 戶 簽 署 日 期
Client Signature: ___________________________ Date
客 戶 姓 名 批 核
Client Name: ______________________________ Approved By