LEGAL INFORMATION

1. IMPORTANT

Any investment in a fund or any product linked to the fund should only be made after a careful review of the applicable offering documents. Such offering documents generally include – depending on the type of fund, its jurisdiction, regulatory regime (e.g. AIFM or UCITS) and place of distribution – a prospectus, a KIID (Key Investor Information Document), and the latest annual report (together the “Offering Documents”).
The Offering Documents are available from the website of the management company or fund manager (as applicable) of the fund and upon written request to the address of the management company or fund manager (as applicable).
The purpose of Metori’s website is to provide information on Metori Capital Management, its corporate structure and its investment philosophy. It does not contain information on funds and does not intend to solicit investors on funds. Thus, it does not provide access to the Offering Documents.
As of the current date, Metori is a sub-investment manager of a series of funds managed by Lyxor Asset Management. Potential investors are invited to visit Lyxor’s websites (www.lyxorfunds.com and www.lyxor.com) if they wish to obtain information on such funds, as well as the relevant Offering Documents.
Investing in financial products involves risks. The value of a share or unit in a fund reflects the value of the assets held in the fund’s portfolio and is subject to market fluctuations. Such fluctuations may be amplified if the fund uses leverage. The capital invested in the funds is not guaranteed. Investors may lose the entire invested amounts.

2. REFERENCE INDICATORS

This website may contain certain information (such as, but not limited to, market reports, newsletters, comments and whitepapers) using reference indicators and market indices (together the “Indicators”). Indicators are provided by third-party providers or calculated by Metori but based on data provided by third-party providers. Such third-party providers are the exclusive owners of their data and calculation rules. Unless stated otherwise, any published value is the closing level of the Indicator.

3. BEST SELECTION AND EXECUTION POLICY

Metori has an obligation to act in the best interests of its clients and of the funds it manages or sub-manages. To this end, the company is subject to an obligation of best selection and best execution and applies a dedicated procedure.
Best Selection:
Financial intermediaries / brokers are selected based on the following criteria, under the supervision of Metori’s investment committee:
– Intermediation / brokerage costs
– Quality and reliability of execution
– Capacity to deal with large orders
– Quality of confirmation flows and back office processes
The fund managers are required to monitor that actual execution flows are in line with the above. Quality is assessed globally and not deal by deal. Intermediaries are rated by the fund managers. Failure to execute, confirm and settle orders within Metori’s quality standards is reported to Metori’s management and the investment committee.
Best execution:
When selecting a new broker, Metori requires that such broker provides its own best execution policy.
When allocating orders, fund managers favour the most competitive brokers (within the list of selected brokers) given the type of order / market they want to trade. But for a given type of order / market, the most competitive broker may not get all trades, since Metori needs to maintain multiple brokerage relationships to (i) create competition on all markets and maintain aggressive pricings and (ii) compare qualities of execution and post-trade service.

4. MANAGEMENT OF CONFLICTS OF INTERESTS

Metori has established an internal policy to manage conflicts of interests. It aims to identify, prevent and manage situations that could potentially go against the interests of our clients, or be a threat to market integrity. If a situation gives rise to a potential conflict of interests, such conflict shall be managed in the best interest of our clients, meaning in a fair manner and by delivering relevant and comprehensive information.
If a situation gives rise to a potential conflict of interest, and depending on the nature of such situation, Metori shall consider the three following actions:
– do the transaction / perform the activity if a proper resolution of potential conflicts is possible;
– if certain conflicts remain, inform clients on the origin and nature of such conflicts;
– whenever conflicts cannot be managed in the best interest of clients, abandon the operation or the activity that gave rise to such conflicts.
To this end, Metori implements procedures to prevent situations giving rise to conflicts of interests, through:
– mapping situations that may give / have given rise to conflicts of interests;
– making its staff aware of best practices;
– implementing internal controls regularly;
– separating functions that may be in conflict;
– keeping transaction records;
– tracking personal transactions and prohibiting non-compliant personal transactions;
– implementing a gift policy with clear limits and obligations to declare.
The following information is made available to clients upon request:
– procedure to manage and prevent conflicts of interests,
– potential situations that may give rise to conflicts of interests,
– record of identified conflicts of interests.

5. VOTING POLICY

For the time being, Metori does not trade equity securities. Thus, it has not established any policy to exercise voting rights.

6. PROCESSING CLIENT COMPLAINTS

Metori implements operational procedures to efficiently process complaints made by its clients, in a timely manner. Any complaint may be sent to the management of Metori by email to complaints@metoricapital.com or by post to METORI CAPITAL MANAGEMENT, 9 rue de la Paix, 75002 Paris, France. Metori will acknowledge receipt within ten working days. Except in duly justified exceptional circumstances, a response will be issued within two months of receipt.
In France, clients are informed that, in addition to the above, they may call upon the AMF Ombudsman’s Office (Ombudsman of the AMF, Autorité des Marchés Financiers, 17 place de la Bourse, 75082 PARIS CEDEX 02, telephone: 01 53 45 60 00). The request form is available on the AMF’s website: http://www.amf-france.org.

7. REMUNERATION POLICY
Metori has established a remuneration policy in compliance with AIFM and UCITS directives. This remuneration policy aims at retaining talents, incentivising staff to contribute to the long-term performance of the company, ensuring that all employees participate to the management of risks and comply with regulations and internal rules. The remuneration policy, as well as fixed and variable compensations, are set by the management board of Metori.
Variable compensations will be determined at the discretion of the management board of Metori, based on both quantitative and qualitative criteria, but not based on any formula. Such criteria will include, for each team and each employee:
– the performance of the funds and mandates managed or advised by Metori, in absolute terms but also relatively to relevant peer groups or benchmarks;
– the overall profitability of the team, net of operational costs attributable to such business line;
– the overall profitability of the company;
– the achievement of objectives assigned to the team / employee;
– the proper management of risks;

– the promotion of the ESG integration in the transversal processes of the Portfolio Management Company, while taking into account the sustainability risks;
– the compliance with internal rules and procedures, codes of good conduct and regulatory obligations.
Part of variable compensations may be differed up to 4 years. Differed compensations will be payable subject to the employee’s being present, to compliance with good practices and risk management policies and to the company’s financial situation.

8. ESG POLICIES

View the ESG policies page.

9. METORI CAPITAL MANAGEMENT

Metori is authorised and regulated in France as an asset manager by the Autorité des Marchés Financiers (“AMF”) to manage UCITS, Alternative Investment Funds (AIF), Managed Accounts (professional investors), to provide investment advisory services (professional investors) and to distribute UCITS and AIF managed by third party asset managers.
AMF registration number: GP-17000002 effective since 6 February 2017.
Metori is registered with the AMF and the European Securities and Markets Authority (“ESMA”) as Benchmark Administrator pursuant to Article 34 of the Benchmarks Regulation (Regulation (EU) 2016/1011 of 8 June 2016).
AMF registration number: BMR-18000001 effective since 29 June 2018
Metori is registered as a CTA and CPO with the Commodity Futures Trading Commission (“CFTC”) and member of the National Futures Association (“NFA”) in the United States of America.
NFA ID: 0501245
Société par Actions Simplifiée (SAS) with share capital of € 772,131 – RCS Paris 823 656 541
Registered office: 9, rue de la Paix, 75002 Paris
Chairman (Président): Nicolas Gaussel
General Manager (Directeur Général): Laurent Le Saint
Publication Director: Laurent Le Saint
E-mail: info@metori.com

2023 © Metori Capital Management.
All rights reserved.

METORI CHINA TREND OPPORTUNITIES INDEX

Index objective

The objective of the Metori China Trend Opportunity Index is to achieve absolute returns over 3 to 5 years with little to no correlation to traditional investments. The program trades over 30 futures markets in China, long or short, by implementing systematic trend-following strategies based on mid to long-term quantitative signals. Such signals aim at identifying entry and exit points for each market, in order to capture trends both on the upside (long positions) and on the downside (short positions).

Documents

Performance & allocation report
Benchmark statement
Compliance statement
History of Amendments
The Metori China Trend Opportunities Index (“the index”) is the property of Metori Capital Management. The Index Methodology is not intended to be, or construed as, an offer or a solicitation by the Benchmark Administrator to sell, buy or invest in any financial instrument or investment product, or to provide any kind of advice or service. The Index seeks to replicate the performance of a hypothetical portfolio of Index Components. However, the Index does not actually invest in, hold or short the corresponding instruments. An investor in any product linked to, or benchmarked on, the performance of the Index will have no rights whatsoever to any Index Component or any other instruments underlying the Index. The Index is a statistical measure providing a representation of the value of a hypothetical portfolio, and shall not be construed or interpreted as constituting a fund, pool or any other investment vehicle. Any investor, trader, asset manager or service provider making any use whatsoever of the Index, including (without limitation) managing or investing in any product linked to the performance of the Index, using the Index as a benchmark or providing services making references to the Index (each an “Index User”, collectively the “Index Users”), does it under its own responsibility and at its own risk. Prior to making any use of the Index, Index Users should seek independent financial, tax, accounting and legal advice. It is each Index User’s responsibility to ascertain that it is authorised to enter into any transaction or provide any service making references to the Index. Neither Metori nor any of its directors, officers or employees, will be liable or responsible for any loss or damage resulting, directly or indirectly, from using the Index in any way. The performance of the Index over any time-period is not guaranteed to be positive. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RETURNS. The strategy underlying the Index allocation model bears a certain number of risks, including (but not limited to): poor performance, risk of losses, volatility, leverage and value-at-risk, market risks. The Index aims to capture the trends of a selection of futures contracts. The Index may perform well in periods when futures prices are steadily trending up or down. On the opposite, the Index is expected to perform poorly, or even significantly decline, in periods when futures prices do not move in a consistent manner or experience trend reversals. Moreover, the Index performance is expected to be negatively affected in periods of correlated markets. The Index embeds a significant leverage effect through its hypothetical exposure to derivative instruments. Leverage creates special risks and may significantly increase the risk of losses.