The material of this website (“Site”) is for Institutional Investors only and is not suitable for individual investors.
Important Legal Information
It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction. Certain of the funds described on the Site, which are promoted and/or advised by Sagard China (the “Funds”) may be marketed in certain jurisdictions only.
By proceeding, you are confirming you understand that Sagard China makes no representation that the contents of this Site are appropriate for use in all locations, or that any transactions, securities, products, instruments or services discussed on this Site are available or appropriate for sale or use in all jurisdictions or countries, or by all investors or counterparties. Unless otherwise specified, this Site and the information it contains are not intended to be directed to any person(s) in particular. The information on this Site does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not authorised or to any person to whom it is unlawful to make such an offer or solicitation. All persons accessing this Site do so of their own initiative. Prospective investors in the Funds should inform themselves as to applicable legal and regulatory requirements (including in relation to exchange controls and taxation) in the countries of their citizenship, residence or domicile. Sagard China and its partners disclaim all responsibility if you access or download any information from this Site in breach of any law or regulation of the jurisdiction or country of which you are a citizen or in which you are residing or domiciled.
Use of Information
The contents of this Site have been prepared for informational purposes only without regard to the investment objectives, knowledge, experience, financial situation, or means of any particular person or entity, and Sagard China is not soliciting any action based upon them. The information contained herein is not intended for distribution to, or use by, any person or entity in any jurisdiction or country, including the United States, where such distribution or use would be contrary to law or regulation, or which would subject any of the Funds, Sagard China (including its affiliates) or any of their products or services to any registration, licensing or other authorization requirement within such jurisdiction or country. No information included on this Site, nor any external information to which it links, is to be construed as investment advice or as a recommendation or a representation about the suitability or appropriateness of any fund or advisory product or service; or an offer to buy or sell, or the solicitation of an offer to buy or sell, any security, financial product, or instrument; or to participate in any particular trading strategy. This Site should not be used as a substitute for independent research or for personal advice and Sagard China recommends that you seek independent financial and tax advice before making any investment decisions. Information from this Site must not be used in any jurisdiction where prohibited by law and must not be used in a way that is contrary to local law or legislation. Investment in any of the Funds described on this Site should only be made on the basis of the terms and conditions of the most recent applicable prospectus or offering documents (including any relevant supplements). Investment in any of the advisory products or services described on this Site should only be made on the basis of the terms and conditions of the related investment management agreement.
Information posted on this Site is current only as at the date it is first posted and may no longer be true or complete when viewed by you. It may include inaccuracies or typographical errors that may be corrected as they are discovered at Sagard China’s sole discretion without notice.
Furthermore, all material from this Site has been obtained from sources believed to be reliable, but Sagard China makes no guarantee as to its adequacy, accuracy, timeliness or completeness. Opinions contained herein reflect the judgment of Sagard China and are subject to change at any time. Sagard China does not undertake any obligation or responsibility to update such opinions.
General Risk Factors
Investment in the Funds involves significant risks, and there can be no assurance that a Fund’s investment objectives will be achieved.
Investment return and principal will fluctuate with market conditions. Past performance does not guarantee, and is not a reliable indicator of, future performance. The price of investments and the income from them can fall as well as rise and you may not get back the amount originally invested. Income receivable may vary from the amount of income projected at the time of making the investment.
The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies, including market, liquidity, currency, and political risks. Other influential factors include political, economic news, company earnings and significant corporate events. Investing globally can bring additional returns and diversify risk, but exchange rate fluctuations may affect the value of an investment and any income derived from it. Investments in emerging markets or less developed countries may also result in greater risk as these jurisdictions may face more political, economic or structural challenges than developed jurisdictions. A Fund’s exposure to a single country market, which may be subject to particular political and economic risks, may cause the Fund to be more volatile than more broadly diversified funds.
Fund investors exercising any right to redeem units/shares of any Fund may not get back the amount initially invested if the unit or share price has fallen since the initial investment. Deductions for charges and expenses, particularly the initial charge (if any), are not made uniformly throughout the life of the investment, so Fund investors redeeming out of the Fund during the early years may not get back the amount invested.
There can be no guarantee that the tax position or proposed tax position prevailing at the time of an investment will not change. Dividends and capital gains on securities may be subject to withholding taxes imposed by the countries in which the investments are held.
Fund investors must read the most recent applicable prospectus or offering documents (including any relevant supplements) for a summary of the risk factors pertaining to the investment. Please note, however, that no summary of risk factors is exhaustive, and there may be other risks that could affect your investment.
Certain statements on this Site other than statements of historical fact, are “forward-looking statements” based on certain assumptions and reflect Sagard China’s current expectations. Forward-looking statements are provided for the purposes of assisting the reader in understanding Sagard China’s financial performance, financial position and cash flows as at and for the periods ended on certain dates and to present information about management’s current expectations and plans relating to the future and the reader is cautioned that such statements may not be appropriate for other purposes. These statements may include, without limitation, statements regarding the financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of Sagard China, as well as the outlook for Asian and international economies for the current fiscal year and subsequent periods. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “seeks”, “intends”, “targets”, “projects”, “forecasts” or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”.
By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond Sagard China’s control, could affect the performance and results of Sagard China and the Funds, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, among other things: (i) the impact or unanticipated impact of general economic, political and market factors in Asia and internationally; (ii) uncertainties arising out of international political developments, changes in government policies and the impact of and changes in government regulation and legislation; (iii) the impact of and changes in taxation law; (iv) uncertainties associated with emerging markets, developments in the financial markets and restrictions on foreign investment and currency repatriation; (v) market capitalization, currency and interest rate value and exchange rates; (vi) volatility of stock returns and dollar volatility of stock prices; (vii) market volatility, market and funding liquidity; (viii) business competition; (ix), withholding taxes; (x) auditing and reporting standards; (xi) investment strategies; (xii) risk analysis; (xiii) the lack of operating history; (xiv) amortisation of organisational costs; (xv) allocation of Fund assets; (xvi) redemption of Fund units/shares; (xvii) fees and expenses; (xviii) use of intermediary entities; (xix) dependence on key personnel; (xx) the concentration of investments in few issuers, in a particular geographical location, in a protected industry or in a particular sector; (xxi) cybersecurity and operational disruptions and failures; (xxii) investments in collective investment schemes; (xxiii) Sagard China’s ability to complete strategic transactions and implement other growth strategies; and (xxiv) Sagard China’s success in anticipating and managing the foregoing factors. The reader is cautioned to consider each factor, uncertainty and potential events carefully and not to put undue reliance on forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances, including the foregoing list of factors. While Sagard China considers these assumptions to be reasonable based on information currently available to management, they may prove to be incorrect.
Hence, any such statements are not to be construed as guarantees of any future performance and actual results or developments may differ materially from those projected.
Other than as specifically required by applicable law, Sagard China disclaims any intention or obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.
Information available on this Site may include certain financial information relating to Sagard China and the Funds. Any such information may not be the most current source of information regarding Sagard China and its affiliates. Sagard China disclaims any intention or obligation to update such information. Any such information available on this Site shall be deemed to be modified or superseded to the extent that subsequent information on the Site modifies or supersedes such information. The subsequent information need not state that it has modified or superseded prior information available on this Site.
Use of Site
Your use of this Site will at all times comply with all applicable laws, rules and regulations, including those relating to data privacy, international communications and exportation of technical or personal data. You will not use this Site to (a) engage in any unlawful, improper or illegal purpose or activity; (b) engage in denial of service attacks, transmit disabling mechanisms or take actions designed to impair network access; (c) infringe the copyright, trademark, intellectual property or proprietary rights of Sagard China (including any of its affiliates) or any third party; (d) transmit or disseminate content that you do not have the right to transmit or disseminate under law or contractual or fiduciary relationships; or (e) transmit or disseminate content that contains personally identifiable information not belonging to you.
Changes to, or Suspension or Termination of, the Site
Sagard China may in its sole discretion change the information, names, text, software, images, pictures, logos, trade-marks, products and services and any other material displayed on, offered through or contained on this Site, or suspend or terminate, temporarily or permanently, this Site (or any part thereof) at any time without notice or liability to you or any other person.
Site Privacy and Cookies
Sagard China may employ software programs and other methods to monitor network traffic on its Site to identify unauthorized attempts to upload or change information, or otherwise cause damage to the Site or other assets of Sagard China. These programs and methods may receive and record the Internet Protocol (“IP”) address of the computer that has contacted this Site, the date and time of the visit and the pages visited. We may attempt to link these addresses with the identity of individuals visiting this Site if an attempt to damage the Site or other Sagard China assets has been detected.
By using this Site with cookies enabled in your browser preferences, you consent to the use of the cookies described above.
This Site may contain links or references to third-party websites, including affiliates of Sagard China. These links are provided for your convenience only, and Sagard China has not sought to verify or confirm the information contained therein. No endorsement of any third-party products, services or information, nor any recommendation to invest in, purchase or sell any securities or other products or services, is expressed or implied by any information, material or content of any third party contained in, referred to, included on, or linked from or to this Site. Any information, data, opinions, recommendation, products or services provided by such third parties through links to other websites or otherwise made available through their websites are solely those of such third parties and not of Sagard China, even if such third party is a Sagard China affiliate. Sagard China will incur no liability for any content, service, product or material offered through any linked site. Your use of such third-party websites is subject to the terms and conditions of use and the privacy policies of such websites, and you access third-party websites at your own risk.
No other website, without the prior written permission of Sagard China, is authorized to link to any part of this Site.
The materials displayed on or contained within this Site including, without limitation, all software, tools, design, text, reports, editorial materials, informational text, photographs, illustrations, artwork and other graphic materials, and names, logos, trade-marks and service marks (the “Materials”), are the property of Sagard China and its affiliates or licensors and are protected by copyright, trade-mark and other intellectual property laws.
is a trade-mark of Sagard China. All rights reserved.
Sagard China hereby grants you a personal, non-exclusive, non-assignable and non-transferable license to use and view on the Site the Materials for non-commercial and personal use only; provided that you maintain all copyright and other notices contained in such Materials. You agree not to produce, reproduce, republish, modify, create derivative works from, display, perform, translate, distribute, adapt, broadcast, communicate to the public by telecommunication or circulate any Materials to any third party (including, without limitation, the display and distribution of Materials via a third-party website) without express prior written consent of Sagard China. Any use of Materials not expressly provided for herein is only permitted with the express written permission of Sagard China and/or its affiliates or licensors. You further agree that you will not disassemble, decompile, reverse engineer or otherwise modify the Materials.
This provision shall survive the termination of your right to use this Site.
Disclaimer of Warranties
THIS SITE, ITS CONTENTS, AND ANY SOFTWARE OR DOCUMENTATION CONTAINED HEREIN ARE PROVIDED ON AN “AS IS” BASIS AND ON AN “AS AVAILABLE” BASIS. SAGARD CHINA MAKES NO REPRESENTATIONS, WARRANTIES, GUARANTEES OR CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, ARISING FROM STATUTE, COURSE OF DEALING, USAGE OF TRADE OR OTHERWISE, WITH RESPECT TO THIS SITE, ITS CONTENTS, OR SUCH SOFTWARE, DOCUMENTATION AND LINKS CONTAINED HEREIN, AND DISCLAIMS ALL SUCH REPRESENTATIONS, WARRANTIES, GUARANTEES AND CONDITIONS, INCLUDING, WITHOUT LIMITATION, REPRESENTATIONS, WARRANTIES, GUARANTEES AND CONDITIONS OF MERCHANTABLE QUALITY, QUALITY OR FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD-PARTY RIGHTS, ERROR-FREE OR UNINTERRUPTED ACCESS, ACCURACY, AVAILABILITY, RELIABILITY, SECURITY, CURRENCY AND COMPLETENESS ARISING FROM OR RELATING TO THIS SITE, ITS CONTENTS OR ANY LINKS, SOFTWARE OR DOCUMENTATION PROVIDED THROUGH THIS SITE. IN ADDITION, SAGARD CHINA DOES NOT PROVIDE ANY REPRESENTATION, WARRANTY, GUARANTEE OR CONDITION THAT THE INFORMATION ACCESSIBLE VIA THIS SITE IS ACCURATE, COMPLETE OR CURRENT. ALL REPRESENTATIONS, WARRANTIES, GUARANTEES AND CONDITIONS ARE HEREBY DISCLAIMED TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAWS. THIS PROVISION SHALL SURVIVE THE TERMINATION OF YOUR RIGHT TO USE THIS SITE.
Limitation of Liability
IN NO EVENT SHALL SAGARD CHINA, ITS AFFILIATES AND ANY OF THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR OTHER REPRESENTATIVES BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR AGGRAVATED DAMAGES (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF DATA, INCOME, GOODWILL OR PROFIT, LOSS OF OR DAMAGE TO PROPERTY AND THIRD-PARTY CLAIMS) OR ANY OTHER DAMAGES OF ANY KIND, ARISING OUT OF OR IN CONNECTION WITH THIS SITE; ANY MATERIALS, INFORMATION, QUALIFICATION AND RECOMMENDATIONS APPEARING ON THIS SITE; ANY SOFTWARE, TOOLS, TIPS, PRODUCTS, OR SERVICES CONTAINED OR REFERRED TO ON THIS SITE; ANY LINK PROVIDED ON THIS SITE; WHETHER OR NOT SAGARD CHINA HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS EXCLUSION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW.
YOU ACKNOWLEDGE THAT YOU WILL BE FULLY LIABLE FOR ALL DAMAGES RESULTING DIRECTLY OR INDIRECTLY FROM YOUR USE OF THIS SITE.
THIS PROVISION SHALL SURVIVE THE TERMINATION OF YOUR RIGHT TO USE THIS SITE.
You agree to indemnify and hold harmless Sagard China and its affiliates and their respective directors, officers, employees, agents or other representatives from and against all claims, liability and expenses, including all legal fees and costs arising from or relating to (a) your breach of these Terms and Conditions; and (b) your use of this Site. This provision shall survive the termination of your right to use this Site.
Sagard China may at any time and at its sole discretion terminate your right to use this Site.
These Terms and Conditions shall be governed by, construed and enforced in accordance with the laws of the Province of Ontario and the laws of Canada applicable therein and the parties irrevocably attorn to the jurisdiction of the courts of the Province of Ontario. This provision shall survive the termination of your right to use this Site.