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Welcome to Finland
Please read the important information below before continuing to our website

Please read the important information below before continuing to our website.  

By clicking on your client type to enter the website, you are confirming that you have read and understood the important information that is contained below, and you accept the terms of the Privacy and Cookies policy.

THIS WEBSITE IS AIMED AT CLIENTS IN FINLAND WHO QUALIFY AS PROFESSIONAL CLIENTS OR PROFESSIONAL INVESTORS

This website is published by Lyxor International Asset Management (LIAM), a French asset management company approved by the French Financial Markets Authority (Autorité des Marchés Financiers, 17 place de la Bourse, 75082 Paris Cedex 02) under the UCITS (2009/65/EC) and AIFM (2011/31/EU) directives.

The website is hosted on Microsoft Azure servers.

This website is subject to French and Finnish law.

 

A professional client for the purposes of the MiFID (2004/39/EC) and the AIFMD (2011/31/EU) as implemented in Finland is one of the following:

-         an entity required to be authorised or regulated to operate in the financial markets. The following list includes all authorised entities carrying out the characteristic activities of the entities mentioned, whether authorised by an EEA State or a third country and whether or not authorised by reference to a directive:

·            an investment firm, a credit institution, a fund management company, an alternative investment fund manager, a depositary;

·            a stock exchange, an options exchange, a clearing entity;

·            a central securities depository;

·            an insurance company, a pension insurance company, a pension fund;

·            an entity that deals exclusively on own account in financial derivatives for the sole purpose of hedging positions on derivatives markets or deals for the account of other members of those markets or makes prices for them and is guaranteed by clearing members of the same markets;

·            a business entity dealing in commodities and/or commodity derivatives on own account;

·            any other institutional investor;

 

 

-          a large undertaking, meeting two of the following size requirements according to the financial statements of the last preceding financial period:

 

·            balance sheet total of at least EUR 20,000,000

·            net turnover of at least EUR 40,000,000

·            own funds of at least EUR 2,000,000

 

-         the State of Finland, the State Treasury, the province of Åland, foreign national and regional governments as well as foreign public bodies managing public debt;

-         the European Central Bank, the Bank of Finland and similar foreign central banks as well as the International Monetary Fund, the World Bank and similar international associations and organisations;

-         institutional investors that, as their main field of activity, invest in financial instruments;

-         other clients that have in writing requested to be treated as a professional client and, after having received written information on the limited protection afforded to professional clients confirmed in writing their understanding of the same, provided that the investment firm has assessed that the client is capable of making independent investment decisions and understands the related risks and, furthermore, that the client meets at least two of the following criteria:

·            the client has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters;

·            the size of the client’s financial instrument portfolio exceeds EUR 500,000;

·            the client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.

 

A professional investor for the purposes of the UCITS (2009/65/EC) as implemented in Finland is one of the following:

-         an entity required to be authorised or regulated to operate in the financial markets, as defined above under ‘professional client’;

-         a large undertaking, meeting the requirements set out above for professional clients

-         the State of Finland, the State Treasury, the province of Åland, foreign national and regional governments as well as foreign public bodies managing public debt;

-         the European Central Bank, the Bank of Finland and similar foreign central banks as well as the International Monetary Fund, the World Bank and similar international associations and organisations;

-         institutional investors that, as their main field of activity, invest in financial instruments;

-         other investors that have notified the fund management company, UCITS or its representative in writing that they, on the basis of their expertise and experience in investing activities, are professional investors, and meet at least two of the following criteria:

·            the investor has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters;

·            the size of the investor’s financial instrument portfolio exceeds EUR 500,000;

·            the investor works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.

 

The above definitions are only extracts and are as such not exhaustive. For further details please refer to the Finnish Investment Services Act (747/2012) and the Finnish Investment Funds Act (48/1999).

 

Marketing Restrictions and Implications

 

Lyxor UCITS compliant Exchange Traded Funds (Lyxor UCITS ETFs) referred to on this website are open ended mutual investment funds (i) established under French law and approved by the Autorité des Marchés Financiers (the French Financial Markets Authority), or (ii) established under Luxembourg law and approved by the Commission de Surveillance du Secteur Financier (the Luxembourg Financial Supervisory Committee). Most, if not all, of the protections provided by the Finnish regulatory system generally and for funds authorised in Finland do not apply to these exchange traded funds (ETFs). In particular, investors should note that holdings in this product will not be covered by the provisions of the Financial Services Compensation Scheme or by the Finnish Investors’ Compensation Fund.

 

This website is exclusively intended for persons who are not "US persons", as such term is defined in Regulation S or 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.

 

Index Replication Process

 

Lyxor UCITS ETFs follow both physical and synthetic index replication process.

 

However, most Lyxor UCITS ETFs follow synthetic replication process. This consists of entering into a derivative transaction (a ‘Performance Swap’, as 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 UCITS 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 UCITS ETF commits to pay the Lyxor UCITS 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 UCITS ETF the performance and any related revenues generated by the basket's assets (excluding the value of the Performance Swap) held by the Lyxor UCITS 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. 

 

Investment Risks

 

The Lyxor UCITS ETFs described on this website are not suitable for everyone. Investors' capital is at risk. Investors should not deal in this product unless they understand, having obtained independent professional advice where necessary, its nature, terms and conditions, 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 any Lyxor UCITS ETF, 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 (including legal, tax, financial or accounting advisors, as appropriate).

 

Specific Risks

 

·         Capital at Risk. ETFs are tracking instruments: Their risk profile is similar to a direct investment in the Benchmark Index. Investors’ capital is fully at risk and investors may not get back the amount originally invested. Investments are not covered by the provisions of the Financial Services Compensation Scheme (“FSCS”), the Finnish Investors’ Compensation Fund or any similar scheme.

·         Counterparty Risk. Investors may be exposed to risks resulting from the use of an OTC Swap with Societe Generale. Physical ETFs may have Counterparty Risk resulting from the use of a Securities Lending Programme.

·         Currency Risk. ETFs may be exposed to currency risk if the ETF or Benchmark Index holdings are denominated in a currency different to that of the Benchmark Index they are tracking. This means that exchange rate fluctuations could have a negative or positive effect on returns.

·         Replication Risk. ETFs are designed to replicate the performance of the Benchmark Index. Unexpected events relating to the constituents of the Benchmark Index may impact the Index provider’s ability to calculate the Benchmark Index, which may affect the ETF’s ability to replicate the Benchmark Index efficiently. This may create Tracking Error in the ETF.

·         Underlying Risk. The Benchmark Index of a Lyxor ETF may be complex and volatile. When investing in commodities, the Benchmark Index is calculated with reference to commodity futures contracts which can expose investors to risks related to the cost of carry and transportation. ETFs exposed to Emerging Markets carry a greater risk of potential loss than investment in Developed Markets as they are exposed to a wide range of unpredictable Emerging Market risks.

·         Liquidity Risk. On-exchange liquidity may be limited as a result of a suspension in the underlying market represented by the Benchmark Index tracked by the ETF; a failure in the systems of one of the relevant stock exchanges, Societe Generale or other Market Maker systems; or an abnormal trading situation or event. 

 

The securities can be neither offered in nor transferred to the United States.

 

Tax

 

Any statement in relation to tax, where made, is generic and non-exhaustive and is based on our understanding of the laws and practice in force as of the date of this document and is subject to any changes in law and practice and the interpretation and application thereof, which changes could be made with retroactive effect. Any such statement must not be construed as tax advice and must not be relied upon. The tax treatment of investments will, inter alia, depend on an individual’s circumstances. Investors must consult with an appropriate professional tax adviser to ascertain for themselves the taxation consequences of acquiring, holding and/or disposing of any investments mentioned on this website. 

Further information on the risk factors are available in the [Risk Warning – link to risk page] section of the website.

 

Any fund prospectus and supplements 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 fund prospectus and any fund supplement of the fund concerned.

 

Although the content of the website is based upon information that LIAM consider reliable or comes from sources that LIAM consider reliable, LIAM have not verified such information. Lyxor makes no representation or warranty as to the accuracy, completeness or adequacy of any information.  Any reproduction, disclosure or dissemination of the materials available on the website is prohibited.

 

Cookies

This website uses cookies to make the website work or improve your user experience. Cookies are small text files that are saved on your computer or device, which are used for several purposes such as detecting preferences and improving site navigation. By continuing to use this website you consent for cookies to be used. For more details, including how to amend your preferences, please read our [Cookies Policy] link to privacy & cookie page.

By clicking on your client type to enter the website, you confirm that you qualify as a ‘professional client’ or ‘professional investor’, as set out above and shall be deemed to have represented to us that you are not a U.S. person and that you are not located in the United States of America, its territories and possessions, and any State of the United States of America and that you are otherwise authorised to receive the information to and on this website.

 

 

I CONFIRM THAT I HAVE READ AND UNDERSTOOD THE IMPORTANT INFORMATION THAT IS CONTAINED ABOVE AND ACCEPT THE TERMS OF THE PRIVACY AND COOKIES POLICY.

By continuing to browse the site, you are agree on the use of cookies to track the number of visits.To know more about cookies policy:click here

Legal notice

This website is published by Lyxor International Asset Management (LIAM), a simplified joint stock company (société par actions simplifiée) with capital of 1,059,696 euros, listed on the Nanterre Trade and Companies Register under the single identification number 419,223,375 and EPA number 6630Z.

Registered office: Tours Société Générale, 17 cours Valmy, 92800 Puteaux.

Intra-community VAT number: FR 50419223375
Legal representative and director of publication: Lionel Paquin, Chairman, Lyxor International Asset Management.

Managing editor: Nathalie Boschat, Head of the Lyxor Communications Department (Tel.: +33 1 42 14 83 21); e-mail: Nathalie.Boschat@sgcib.com).

This website is hosted on Microsoft Azure servers.
This website is subject to French law.
 

 

Professional regulation

LIAM is a French asset management company approved by the AMF (17 place de la Bourse 75082 Paris Cedex 02) under the UCITS (2009/65/EC) and AIFM (2011/31/EU) directives.

Site content


LIAM endeavors to ensure the accuracy and updating of information on this website, and reserves the right to modify the content at any time without notice. LIAM cannot however guarantee its completeness or the absence of modification by a third party (intrusion, virus). Moreover, LIAM accepts no liability in case of difficulty or inability to access the website due to an internet connection problem.


As such, LIAM does not accept liability for any consequential damages such as, but not limited to, losses arising from transactions made on the basis of the information, loss of profit, loss of business, loss resulting from an interruption of service, increased costs of access and information processing.


Similarly, LIAM cannot be held liable for factors beyond its control or any damage that may be suffered by your technical environment, including your computers, software, network equipment (modems, phones, etc.) and any equipment used to access or use the service and/or information.


Finally, LIAM cannot guarantee, and accepts no liability as regards the sequence, accuracy, absence of errors, veracity, currency, merchantability, quality, correctness or non-infringing character and availability of the information on this website.


You undertake to use the information contained on this website for personal, non-commercial purposes.


Information on products and services

The products and services offered by LIAM are not available in all jurisdictions, notably due to regulatory constraints. The terms and conditions relative to products and services (if any) are indicative. The information regarding products and services does not constitute on the part of LIAM or any of its affiliates either an offer to buy, sell or subscribe for financial products or services, or the solicitation of an offer to buy or sell.


LIAM assumes no liability for the accuracy, completeness or adequacy of the information derived from external sources, although the information is obtained from sources deemed reliable.


WHEN PAST PERFORMANCE OR SIMULATED PAST PERFORMANCE IS PRESENTED, THE DATA RELATED THERETO REFER TO PAST PERIODS, AND ARE NOT RELIABLE INDICATORS OF FUTURE RESULTS. THE SAME APPLIES TO VARIATIONS IN HISTORICAL MARKET DATA.


When simulations of future performance are presented, the data relative to these performances are only predictions, and are not a reliable indicator of the future performance of the product. Moreover, where past performance or simulated past performance are based on data expressed in a currency that is not that of the state of residence of the investor, potential gains may increase or decrease based on changes in exchange rates. Finally, where past performance or simulated performances (past or future) are presented, any gains can also be reduced by the effect of commissions, fees or other charges borne by the investor.


Anyone wishing to obtain any of the services or products presented on this website is requested to contact LIAM to inquire about the availability of the service or product in question, and the contractual terms and rates applicable to it.


Subscription of products and services


As part of its legal and regulatory obligations (including those resulting from the European directive on Markets in Financial Instruments – MIFiD), LIAM may be required, depending on the type of products it offers and the classification it assigns you, to verify the suitability or appropriateness of the financial instruments in relation to your hedging or investment objectives, your knowledge and your experience.


Without prejudice to the legal or regulatory obligations borne by LIAM, investors should, before investing in the product or concluding any transaction relating thereto, conduct their own analysis of the product and its risks, especially in respect of legal, tax and accounting aspects, without relying solely on information provided to them. Investors should consult, if they deem it necessary, their own advisors or any other professional on this matter. Subject to compliance with its legal and regulatory requirements, LIAM shall not be held liable for the financial consequences of any nature whatsoever arising from any transaction relating to the product or any investment in the product.


Any online application for subscription to a product or service offered by LIAM is only valid after acceptance by it, and involves the submission of the transaction to contractual and tariff conditions, as well as to French law.

Intellectual property


The entire website is covered by French and international copyright, trademark and, more generally, intellectual property law, both in terms of its form (choice, plan, layout of materials, means of access to data, organization of data, etc.), and in respect of each element of its content (text, images, etc.). The content appearing on the pages of this website is the exclusive property of LIAM. You further undertake not to use such content and not to allow anyone else to use this content for illegal purposes.


Exceptionally, some content (text, images) may be the property of its respective authors.


Any reproduction, distribution or redistribution in whole or in part of the content of this website in any form or by any means whatsoever (including by caching or framing), or any sale, resale, retransmission or distribution to third parties in any way whatsoever is prohibited. Failure to comply with this prohibition constitutes an infringement that may result in civil and criminal penalties.


The hypertext links to other websites do not engage the liability of LIAM, particularly as regards the content of these websites.

LIAM is not responsible for hypertext links pointing to this website, and prohibits any person from establishing such a link without its express consent.


Personal data

.Collection

To better meet your expectations, and during your consultation of this website, LIAM may collect directly or indirectly nominative personal data (IP address), if necessary through forms. These data are stored in LIAM’s information systems, or those of service providers and consultants mandated by LIAM. Some of these personal data are required to process your requests: they are displayed in bold or indicated by any other equivaleethod.

.Use

These personal data may be used for the purpose of processing your requests on the website or for business management and development. They may also be used to keep you informed of events, actions or publications liable to be of interest to you. Indirect personal information, for statistical analysis, may also be collected for the purpose of managing your connection and browsing (see below for information on Cookies). Data collected that are liable to be used in connection with the provision of financial services are the subject of specific information contained in the special conditions relating to the service.

.Disclosure to third parties

The data collected may, by express agreement, be communicated, for the purposes mentioned above, to other Lyxor entities, its partners, brokers and insurers, or its sub-contractors and service providers, to the extent necessary for the tasks entrusted to them, and which may be required to contact you directly using the contact information you have provided to us.

.Security of processing

LIAM takes all physical, technical and organizational measures to ensure appropriate security and confidentiality of personal data, in particular to protect against loss, accidental destruction, alteration and unauthorized access.

.Application of European regulations on personal data transfers outside the European Economic Area

Due notably to the Lyxor Group’s international dimension, and to optimize the quality of service, the communication of the information referred to above may involve personal data transfers to countries outside the European Economic Area, where laws on the protection of personal data differ from those of the European Union. At any time during the relationship, LIAM may entrust certain services performed by operational functions to service providers chosen for their expertise and reliability outside the European Union to achieve targeted and limited IT services (testing, development, maintenance, information technology).

.Right of access, rectification and opposition

Persons affected by these treatments have a right of access to personal data concerning them, and may ask for inaccurate, incomplete or outdated information to be corrected, updated or deleted, or to oppose, subject to being able to provide a legitimate reason, having their personal data subjected to treatment.
Individuals may also, without having to give reasons, oppose this data being used for marketing purposes or shared with third parties for that purpose. These rights may be exercised:
By mail at the following address: Lyxor International Asset Management – Lyxor Communications Department – Tours Société Générale – Granite – 189 rue d'Aubervilliers, 75886 PARIS CEDEX 18, specifying the name of the operation.

.Cookies

This website uses cookies. Cookies are text files stored in memory by your browser, and are used notably to identify you whenever you change page on the website.
We use cookies on our website to guarantee secure and more efficient browsing for users. Cookies allow you to connect to our services, to choose your connection preferences (e.g. language, etc.) and to subscribe for online products and services.
To oppose the saving of cookies, you must configure your browser.

.More information on cookies

CNIL website: www.cnil.fr/vos-droits/vos-traces/les-cookies/

Security

This website is protected by one of the highest levels of technical security, and is under constant surveillance.

The algorithms and mechanisms used to protect your communications with LIAM and information about you comply with French regulations.​