Lyxor and Lyxor ETF are names used by Société Générale to promote the products of Lyxor Asset Management.
This website is operated in France by Société Générale. Société Générale is a French credit institution (bank) authorized by the Autorité de
Contrôle Prudentiel (the French Prudential Control Authority). Société Générale is not an entity supervised by the Finnish Financial
Supervisory Authority (the FIN-FSA). The FIN-FSA, however, supervises the Finnish financial markets in general.
A retail client is anyone who is not classified as a professional investor, as defined under the Securities Market Act (495/1989, as amended).
This will normally be individuals and small businesses.
A professional client,
as defined under the Mutual Funds Act (48/1999, as amended) and the Securities Market Act, is one of the following:
following entities which are regulated, or carry out activities in accordance with a licence, on the financial markets, or a corresponding
foreign entity subject to control of the authorities:
- an investment firm referred to in the Act on Investment Firms;
- a credit institution referred to in the Act on Credit Institutions;
- a management company referred to in the Mutual Funds Act;
- a stock exchange as referred to in the Securities Markets Act and option organisation referred to in the Act on Trading in Standardised Options
- a clearing house and a central securities depository referred to in the Act on the Book-Entry System;
- an insurance company referred to in the Act on Insurance Companies;
- pension insurance companies, as defined in the act on Pension Insurance Companies, pension foundations, as defined in the Act on
Pension Foundations and pension funds, as defined in the Act on Pension Funds;
- companies that do not need a licence under MiFID art. 2 (1) (l);
- a company buying or selling commodities and commodity derivatives for its own account;
- other institutional investor;
company which, according to its annual accounts drawn up for the previous full financial period meets at least two of the
- a balance sheet of at least EUR 20,000,000;
- a turnover of at least EUR 40,000,000;
- own funds of at least EUR 2,000,000;
Marketing Restrictions and Implications
Lyxor ETFs referred on this website are open ended mutual investment funds established under French or Luxembourg law and approved by the Autorité des Marchés Financiers (the French Financial Markets Authority) or the Commission de Surveillance du Secteur Financier (the Luxembourg Financial Markets Authority). The funds are UCITS compliant and are recognised under section 128 of the Mutual Funds Act (48/1999, as amended, Fin: Sijoitusrahastolaki) and may be promoted to professional investors in Finland  . Investors should note that holdings in this product will not be covered by the provisions of the Deposit Guarantee Fund or the Investors' Compensation Fund, nor by any similar scheme in France.
This website is exclusively intended for persons who are not "US persons", as such term is defined in Regulation S of the US Securities Act 1933, as amended, and who are not physically present in the US. This website does not constitute an offer or an invitation to purchase any securities in the United States or in any other jurisdiction in which such offer or invitation is not authorised or to any person to whom it is unlawful to make such offer or solicitation. Potential users of this website are requested to inform themselves about and to observe any such restrictions.
Synthetic Index Replication
All Lyxor ETFs follow the synthetic index replication process. This consists of entering into a derivative transaction (a ‘Performance Swap’, which is defined below) with a Counterparty that provides complete and effective exposure to its benchmark index. Lyxor has adopted this methodology in order to minimise tracking error, optimise transaction costs and reduce operational risks.
A Performance Swap is a contractual agreement which is negotiated over-the-counter (OTC) between two parties: the Lyxor ETF and its Counterparty. From a risk perspective, each Performance Swap ranks equally with other senior unsecured obligations of the Counterparty, such as common bonds (i.e., same rights to payments). In the Performance Swap, the Counterparty of the Lyxor ETF commits to pay the Lyxor ETF a variable return based on a pre-determined benchmark index, instead of a fixed stream of income (as in bonds). At the same time, the Counterparty will receive from the Lyxor ETF the performance and any related revenues generated by the Basket's assets (excluding the value of the Performance Swap) held by the Lyxor ETF. Information provided on individual ETFs includes data on the Basket relating to the ETF and the percentage value of the Basket represented by each asset. The information is relevant to the closing values on the date given.
The products described within this website are not suitable for everyone. Investors' capital is at risk. Investors should not deal in this product unless they understand its nature and the extent of their exposure to risk. The value of the product can go down as well as up and can be subject to volatility due to factors such as price changes in the underlying instrument and interest rates. If a fund is quoted in a different currency to the index, currency risks exist.
Prior to any investment in this product, you should make your own appraisal of the risks from a financial, legal and tax perspective, without relying exclusively on the information provided by us. We recommend that you consult your own independent professional advisors.
Through Lyxor ETFs, investors are exposed to counterparty risks resulting from the use of an OTC (Over-the-Counter) Swap with Société Générale. In-line with UCITS guidelines, the exposure to the Swap Counterparty, Société Générale, cannot exceed 10% of the total fund assets. It is recommended that potential investors study the Prospectus before investing.
As of 9th December 2011, Société Générale was rated by S&P Ltd Long Term rating A+ and by Moodys Invest Service Long Term debt rating Aa3. Companies are rated by S+P Ltd from A1 (Most Secure/Best) to D (Most Risky/Worst), and are rated by Moodys Investor Services from Aaa (Highest quality) to C (Lowest rated).
Société Générale is not the only market-maker for Lyxor ETFs. Société Générale and any other market makers supporting Lyxor ETFs on exchange must follow the requirements and guidelines of the stock exchange where the ETF is admitted for trading. On-exchange liquidity may be limited as a result of a suspension in the underlying market represented by the index tracked by the ETF; a failure in the stock exchange, Société Générale or other market-maker systems; or an abnormal trading situation or event.
The securities can be neither offered nor transferred in the United States.
Further information on the risk factors are available in the Risk Warning section of the website.
The Prospectus of the funds are available at www.lyxoretf.fi. Information given about the past performance of the funds is no guarantee of future performance. No investment decision should be taken without reading the Prospectus of the fund concerned.
Although information contained on the website are from sources believed to be reliable, Société Générale makes no representation or warranty regarding the accuracy of any information. Any reproduction, disclosure or dissemination of these materials is prohibited. This site is maintained by Société Générale (Tours Société Générale, 17 cours Valmy 92987 Paris La Défense).
PLEASE REFER TO THE INVESTOR TYPE DESCRIPTION ABOVE AND PLEASE ENSURE YOU HAVE READ AND UNDERSTOOD THE INFORMATION PROVIDED IN THE REST OF THIS DISCLAIMER BEFORE YOU CLICK SUBMIT AND ACKNOWLEDGE THAT YOU ARE A PROFESSIONAL INVESTOR.
I confirm that I am a professional investor. Provided that the fund is duly notified in Finland and fulfils the criteria laid down in section 128 of the Mutual Funds Act.