The Manager and its affiliates under States Street Global Advisors (“SSGA”)’s duty of best execution requires that we take reasonable steps to obtain as favourable an overall result as possible for our client transactions under the circumstances, taking into account various factors that are relevant to the particular transaction. This includes, but is not limited to, price, cost, speed of execution, likelihood of execution, likelihood of settlement, the nature of the transaction, market liquidity, local laws and regulations, potential market impact and size of the transaction. In considering these best execution factors, SSGA takes into account the particular characteristics of the order, the characteristics of the financial instrument, and the available execution venues and counterparties. While price is an important consideration, SSGA's duty of best execution does not imply a duty to always obtain the best price available at the time of the transaction.
The ability of SSGA to achieve best execution at the time of a transaction is limited by, among other things, the limitations set forth in a client’s contractual arrangement with SSGA (including a trust deed) and/or a counterparty, any restrictions or explicit directions imposed by the client as to the panel of counterparties with which SSGA may transact with respect to the client’s account, the amount of available credit the client may have with counterparties, and any other specific instructions delivered by the client to SSGA. These factors can be viewed in terms either of the particular transaction or in terms of SSGA’s overall responsibilities with respect to the accounts for which it exercises investment discretion and has the authority to select counterparties. SSGA selects the counterparty for each transaction after considering price or spread and other qualitative criteria. However, the client, and not SSGA, bears any credit and operating exposure to a counterparty.
The ABF Pan Asia Bond Index Fund (the 'PAIF') is an authorized unit trust in Hong Kong and Singapore only. Authorization does not imply official recommendation. Nothing contained here constitutes investment advice or should be relied on as such. Past performance of PAIF is not necessarily indicative of its future performance. Distributions from PAIF are contingent on dividends paid on underlying investments of PAIF and are not guaranteed. Listing of PAIF on the Hong Kong Stock Exchange and the Tokyo Stock Exchange does not guarantee a liquid market for the units and PAIF may be delisted from the Hong Kong Stock Exchange and/or the Tokyo Stock Exchange. Investors should read the PAIF's prospectus including the risk factors. The Prospectus for PAIF is available and may be obtained from State Street Global Advisors Singapore Limited or can be downloaded from www.abf-paif.com*.
All the information contained in this website is from SSGA and as of date indicated unless otherwise noted. The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA's express written consent. This website and the information contained herein may not be distributed and published in jurisdictions in which such distribution and publication is not permitted.
All forms of investment carry risk, including the risk of losing all of the invested amount. Such activities may not be suitable for everyone.
The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor. All material has been obtained from sources believed to be reliable. There is no representation or warranty as to the accuracy of the information and State Street shall have no liability for decisions based on such information.
Securities lending programs and the subsequent reinvestment of the posted collateral are subject to a number of risks, including the risk that the value of the investments held in the collateral may decline in value and may at any point be worth less than the original cost of that investment.
Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates rise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.
Diversification does not ensure a profit or guarantee against loss.
ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns. Frequent trading of ETF's could significantly increase commissions and other costs such that they may offset any savings from low fees or costs.
The Markit iBoxx ABF Pan-Asia Index referenced herein is the property of Markit Indices GmbH and is used under license. The PAIF is not sponsored, endorsed, or promoted by Markit Indices GmbH or any of its members.
State Street Global Advisors Singapore Limited: Hong Kong address: 68/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong. Telephone: +852 2103-0288. Facsimile: +852 2103-0200.