Sumitomo Mitsui DS Asset Management

Provisional Disclaimer

Any views expressed herein are the sole opinion of the authors and are not affiliated with SMDAM (UK) as an entity except where explicitly stated. Any companies or stocks mentioned should not be construed as a buy or sell recommendation.

General Disclaimer

This material is for general information purposes only without regard to any particular user’s investment objectives or financial situation. It is educational in nature and should not be interpreted or constituted as an offer, solicitation or recommendation or advice to buy or sell securities or pursue any particular investment strategy or investment product in any jurisdiction or country, nor is it a commitment from Sumitomo Mitsui DS Asset Management Company, Limited or any of its subsidiaries (“SMDAM Group”) to participate in any of the transactions mentioned herein.  Any examples used are generic, hypothetical and for illustration purposes only. No representation or promise as to the performance of funds or the return on any investment is made. Any forecasts, figures, opinions or investment techniques and strategies set out are for information purposes only, and are based on certain assumptions and current market conditions that are subject to change without prior notice.

The material is correct to the best of our knowledge at the date of issue and subject to change without notice. We do not guarantee its accuracy, completeness, fairness or timeliness, and make no representations or warranties, express or implied, as to the accuracy or completeness of the statements or any information contained therein and any liability for any error, inaccuracy or omission is expressly disclaimed.  This material does not contain sufficient information to support an investment decision and it should not be relied upon by you in evaluating the merits of investing in any securities or products. Nothing in this material constitutes accounting, legal, regulatory, tax or other advice.

It should be noted that investment involves risks, including the possible loss of the principal amount invested, and the value of your investment may rise or fall. Past performance and yields are not necessarily indicative of current or future results.

This material is issued by the following entities:

In the European Economic Area, this material does not constitute a marketing communication and is directed at professional clients.

In Japan, by Sumitomo Mitsui DS Asset Management Company, Limited. It is for non-Japanese institutional investors only and is not intended to offer or solicit investments, provide investment advice or service, or to be considered as disclosure documents under the Financial Instruments and Exchange Law of Japan.

In the United Kingdom, by Sumitomo Mitsui DS Asset Management (UK) Limited. It does not constitute a financial promotion for the purposes of the Financial Services and Markets Act 2000 (as amended) (FSMA) and the rules of the FCA in the United Kingdom, and is directed at professional clients as defined in the FCA Handbook of Rules and Guidance.

In Hong Kong, by Sumitomo Mitsui DS Asset Management (Hong Kong) Limited. The contents of this material has not been reviewed by the Securities and Futures Commission.

In Singapore, by Sumitomo Mitsui DS Asset Management (Singapore) Pte. Ltd. It is only for accredited investors and institutional investors as defined in the Securities and Futures Act 2001 (“SFA”). You may wish to seek advice from an independent professional and financial advice before investing in any investment, and if you choose not to seek such advice, you should consider carefully whether the investment is suitable for you.

In the United States and Canada, by Sumitomo Mitsui DS Asset Management (USA) Inc. Some statements contained in this material concerning goals, strategies, outlook or other non-historical matters may be forward-looking statements and are based on current indicators and expectations. These forward-looking statements or opinions of the author speak only as of the date on which they are made, and the Company undertakes no obligation to update or revise any forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements. The Company and/or its affiliates may or may not have a position in any financial instrument mentioned and may or may not be actively trading in any such securities.

The organizations and/or financial instruments mentioned are for reference purposes only. The content of this material should not be construed as a recommendation for their purchase or sale. Charts and graphs are provided for illustrative purposes only. This document may not be copied, redistributed or reproduced in whole or in part without prior written approval from Sumitomo Mitsui DS Asset Management (USA) Inc. The content of this document should not be interpreted as a solicitation for business and is intended as background information for professional institutional investors only. Please contact us should you require further information. Both Sumitomo Mitsui DS Asset Management Company, Limited and Sumitomo Mitsui DS Asset Management (USA) Inc. are registered as investment advisory firms under the US Investment Advisor’s Act of 1940.

General Terms

The intellectual property and all rights of the benchmarks/indices belong to the publisher and the authorized entities/individuals. The video itself or the contents of the video may not be copied, redistributed, reproduced or relied upon by any person, in whole or in part, without prior written approval from SMDAM Group. All rights, titles and interests in this material and any content contained herein are the exclusive properties of SMDAM Group, except as otherwise stated.