tailieunhanh - HSBC GLOBAL INVESTMENT FUNDS

This chapter provides a selective review of the methods for mea- suring portfolio performance and the evidence on the performance of professionally managed investment portfolios. As the relevant literature is vast and expanding quickly, a complete survey is virtually impossible. This one reflects its authors’ interests, and no doubt, biases. Chapter 2 reviews the classical measures of portfolio performance developed between about 1960 and 1990. Our review emphasizes a uni- fying theme. We measure the total performance by comparing the returns on the managed portfolio to the returns of an Otherwise Equivalent (our terminology) benchmark portfolio. This is a portfo- lio with the same risk and other relevant characteristics as. | HSBC GLOBAL INVESTMENT FUNDS investment company with variable capital incorporated in Luxembourg PROSPECTUS JULY 2012 VISA 2012 87288-256-0-PC L apposition du visa ne peut en aucun cas servir d argument de publicité Luxembourg ie 2012-08-24 Commission de Surveillance du Secteur Financier 1 Contents IMPORTANT SECTION 1 GENERAL . INVESTMENT Objectives and Policies of the Company 6 . Profile of the Typical investor Categories 6 . SHARE Class information 7 . GENERAL RISK Considerations 9 . Risk-Management Process 12 SECTION 2 COMPANY . SUMMARY of Principal features 14 . SHARES 14 . How to buy shares 15 . How to sell shares 17 . foreign Exchange transactions 19 . How to convert between Sub-Funds Classes 19 . Suspension of the Calculation of the net asset value and issue allocation Conversion redemption and Repurchase of shares 20 . Prices of shares and Publication of Prices and NAV 20 . DIVIDENDS 22 . Charges and Expenses 22 1 Explanation of the Charging 2 Management 3 Performance 4 Operating Administrative and Servicing Expenses Operating Currency Hedging 5 Charges and Expenses of the 6 Other . Management Company and investment advice 25 . depositary bank and Paying agent 26 . Administration 26 1 Administration 2 Registrar and Transfer 3 Domiciliary . distribution of shares 27 1 Hong Kong Representative and 2 Representative in the United 3 Singapore Representative and . MEETINGS AND Reports 27 . AVAILABILITY of documents 27 . Conflicts of interest 28 . Taxation 28 1 Taxation of the 2 Taxation of . liquidation of the Company Termination of Sub-Funds 32 1 Liquidation of the Company and Amalgamation of 2 2 Termination and Amalgamation of SECTION 3 SUB-FUND .