法規訊息

1.最佳選擇規定

執行資產管理決策交易單時,所有投資服務提供者應以實現客戶最佳利益為目標,因此,凱敏雅克資產管理公司(下稱「凱敏雅克」)經營投資管理業務過程中,必須採取一切合理措施替客戶爭取最佳成果,如:遴選執行交易單之中介機構(經紀商、金融交易對手),為客戶取得「最佳執行」。

凱敏雅克業已依法制定交易單執行方針,要求按市場條件及時、準確登錄並處理交易單,其依據如下: - 經紀商、金融交易對手標準化遴選流程; - 執行地點選擇流程; - 經紀商、金融交易對手報表分析。

此外,為獲得最佳執行,凱敏雅克採用質化與量化標準評選中介機構,同時參酌經紀商提供服務之市場,亦即地理覆蓋範圍(全球、泛歐或當地)及其專長交易之金融工具(股票、利率、可轉債或衍生性商品)。

上列各項標準經評估後賦予一加權係數、做為總體評等歸因依據,進而排定中介機構名次,俾便日後修正中介機構選用名單,而主要分析標準包括:中介機構可用性、主動程度、財務穩定度、交易成本及執行速度、品質。

中介機構評等逐年更新,並且據此每年審核選用名單,倘遴選規則出現重大異動,將於凱敏雅克網站www.carmignac.com.公告最新版本。

2.防範利益衝突規定

凱敏雅克業已依法訂立防範利益衝突規定,將採取一切合理措施發掘執業過程中可能發生之利益衝突,為達此一目的,凱敏雅克詳列所有衝突點,以便判別何種情況可能或勢必導致利益衝突發生。

藉由上述方法,凱敏雅克得以偵測執業過程中可能發生之利益衝突,包含其自身與客戶間之衝突,或客戶彼此間之抵觸,且必要時加以妥善處理,下列事項之判斷、檢驗尤其重要: – 員工參與一項或多項投資服務之程度; – 可能導致衝突之業務(如: 自營交易及代表第三方所為者)是否分離; – 公司內部機密或特許訊息之流通; – 員工以個人名義或因專業身份而承接之私部門職務; – 因凱敏雅克或他人代其執行之服務或活動而支付或收受之佣金; – 員工銷售金融產品之薪酬方案; – 員工專業工作衍生之福利或餽贈; – 中介機構及服務提供商遴選程序有關之潛在利益衝突; – 為維護客戶最高利益而導入之管理程序; – 個人交易規定; – 客戶及服務提供商禮品餽贈、收受規定。

3. 投票規範

凱敏雅克投票規範記載於本文,永久有效且適用其經營之所有「集合投資計畫(UCI)」,通則條列如下:

a) 凱敏雅克資產管理公司投票權行使組織架構 投票方式由經營團隊決定,並按本投票規範於經營委員會集中討論或個別進行決定。中台部門負責處理、追蹤提出之決議,並且協助資產管理團隊行使投票權(如:追蹤投票通知、申請投票文件、回傳經理人填具並簽名之文件)。

b) 行使投票權時機 倘本公司UCI持股企業出現改變經營策略之虞,本公司將行使投票權,舉例以下: – 多數股東恐改換; – 可能進行合併或收購; – 經營團隊或將變動; – 企業可能重組。 一旦發現上述風險,且凱敏雅克持有該公司2%以上股權,或投資部位超過基金5%,將行使投票權。

c) 行使投票權原則 凱敏雅克投票規範旨在維護UCI投資者利益,故於適用本規範之投票情況中,凱敏雅克將支持下列事項: – 建立有效公司治理之基礎; – 維護股東權益與資本持有人主要功能; – 公平對待股東; – 明定公司治理不同利害關係人角色; – 提升資訊透明度與流通性 – 強化董事會職責。

d) Conflicts of interest and free exercise of voting rights 凱敏雅克業已制定各式章程,藉以發掘、預防、控管投票過程中之利益衝突,而經營團隊可能牽涉之利益衝突詳列於法遵規範內。

e) Method of Exercising Voting Rights 行使投票權方式包括:到場參與股東大會、透過代理或郵件投票等,並以郵件投票為主。

f) 投票相關資訊呈報客戶 凱敏雅克於每一會計年度結束後四個月內發佈報告,說明前一年度投票權行使之相關數據與內容摘要,歡迎索取。

4. 2015年經銷費報告

凡前一會計年度內交易單執行、投資決策支援服務及經銷費超過50萬歐元,管理公司即須出具「經銷費報告」。

a) Conditions de recours en 2015 à des services d'aide à la décision d'investissement et d'exécution d'ordres (« SADIE ») Au cours de l’année 2015, Carmignac Gestion a eu recours aux services d’aide à la décision d’investissement et d’exécution d’ordres de prestataires externes et financés, dans le cadre d’accords de commissions partagées.

b) 交易單執行與投資決策支援服務中介費所佔比例 交易單收送及執行服務:34% 交易單執行和投資決策支援:66% 上列明細涵蓋UCI與全權委託管理帳戶持有之全體資產。

c) 2015年依分拆佣金協議歸還第三方之費用百分比 依據分拆佣金協議,交易單執行及投資決策支援服務返還第三方之費用佔2015年股票與股票證券中介費之10.3%。

d) 遴選服務供應商時採取之潛在利益衝突預防或處理措施 服務供應商之遴選、評估遵照中介機構遴選及利益衝突二項規範進行。

5. 客戶投訴處理程序

凱敏雅克業已建置一套作業程序,以便快速、有效率地處理客戶投訴。任何投訴皆可傳送至complaints@carmignac.com或凱敏雅克法令遵循部(CARMIGNAC GESTION – Compliance,地址: 24 place Vendôme Paris France),凱敏雅克將於收到投訴十個工作日內告知已收到來函,但前述期間內已向客戶回覆者除外。另,除非發生合理例外情況,否則收到投訴二個月內必將回覆客戶,如爭議未能解決,客戶可聯繫調解人(如: AMF監察員,地址如下:Autorité des marchés financiers, The AMF Ombudsman, 17 place de la Bourse, 75082 PARIS CEDEX 02),調解申請表格及調解章程請見http://www.amf-france.org網站。

6. 保險人清償能力計畫(Solvency II)資訊

依照AMF n°2004-07法令規定,為滿足專業投資人需求(但須符合歐盟2009/138/EC指令,即Solvency II規範),凱敏雅克得於最新基金淨值公佈48小時內揭露投資組合持有之標的,但該等訊息應嚴格保密且僅可用於規劃宏觀調控要求,任何情況下均不得用於受禁止行為,如:市場擇時(market timing)或尾盤交易。

7. Processing client complaints

Carmignac has implemented and maintains an operational procedure to quickly and efficiently process complaints made by its clients. Any complaint may be sent to the Compliance department by email to complaints@carmignac.com or by post to CARMIGNAC GESTION, 24 place Vendôme Paris, France, for French investors; and to Carmignac Gestion Luxembourg, City Link, 7, rue de la Chapelle – L-1325 Luxembourg for all other investors. The management company will acknowledge receipt of the complaint within ten working days of the date on which it was received, unless a response has been issued to the client in the intervening period. Except in duly justified exceptional circumstances, a response will be issued to the client within two months of receipt of the complaint.

For France: In the event of an ongoing dispute, the client may contact a mediator, such as the AMF Ombudsman. The address of the AMF Ombudsman is: Autorité des Marchés Financiers, The AMF Ombudsman, 17 place de la Bourse, 75082 PARIS CEDEX 02, FRANCE. The AMF mediation request form and the Mediation Charter are available online at www.amf-france.org.

For Luxembourg: In the event of a dispute:

  • Carmignac shall provide an answer within a period which cannot exceed one month starting from the date of receipt of the complaint. Where an answer cannot be provided within this period , the complainant may contact directly the competent authority :

    • Either by post to the Commission de Surveillance du Secteur Financier (CSSF), L-2991 Luxembourg;
    • Or by e-mail to direction@cssf.lu. In order to facilitate the filing of a complaint request, the CSSF publishes an application form on its website at www.cssf.lu
  • Where the complainant did not receive an acknowledgement or a satisfactory answer within the period mentioned in the preceding paragraph, s/he may file his/her request with the CSSF within one year as of the date in which the complainant filed his/her complaint request with the financial institution in accordance with CSSF Regulation 16-07.

8. Information Solvency II

In accordance with the regulatory requirements of AMF position 2004-07, we hereby inform you that in order to meet the needs of professional investors subject to the requirements arising from the Directive 2009/138/EC referred to as Solvency II, Carmignac may provide a report, within a deadline of no less than 48 hours with effect from the latest publication of the net asset value, on the composition of its Funds’ portfolio. The information provided shall be strictly confidential and used solely to determine prudential requirements. It may not under any circumstances give rise to prohibited practices such as market timing or late trading by the unitholders that receive this information.

9. List of sub-custodians

10. Remuneration policy

Carmignac Gestion’s Remuneration Policy has been approved by the Board of Directors of the management company. The provisions of the Remuneration Policy are reviewed on a regular basis by the Remuneration and Appointments Committee and are adjusted to fit the changing regulatory framework. The remuneration policy includes a description of how remuneration and benefits are calculated. A copy of the policy is available free of charge upon request.

Carmignac Gestion Luxembourg’s Remuneration Policy has been approved by the Board of Directors of the management company. The provisions of the Remuneration Policy are reviewed on a regular basis by the Remuneration and Appointments Committee and are adjusted to fit the changing regulatory framework. The remuneration policy includes a description of how remuneration and benefits are calculated. A copy of the policy is available free of charge upon request.

For more information on the Remuneration and Appointments Committee:

11. Modern Slavery Statement

Carmignac Gestion Luxembourg S.A. (“the Firm”) is incorporated under the laws of the Grand Duchy of Luxembourg and maintains a branch in the UK. The Firm is part of Carmignac Group, one of Europe’s leading asset managers with over 27 years of experience in asset management. The Firm is authorised by the Commission de Surveillance du Secteur Financier and its UK Branch is supervised by the Financial Conduct Authority.

The Firm has zero tolerance to modern slavery and human trafficking, and is committed to ensuring that its supply chain adopts the same approach. Due to the nature of its activities, the Firm believes that the risk of involvement with modern slavery and human trafficking is limited. Nonetheless, the Firm is in the process of individually reviewing its supply chain to ensure that there is no negative information in connection therewith. Furthermore, the Firm is developing policies and procedures incorporating the review of suppliers prior to entering into a relationship, as well as incorporating relevant provisions in agreements with suppliers to ensure that the latter also meet the requirements of the Modern Slavery Act. Also, employees go through a careful hiring process and are subject to local employment laws.

The relevant employees will be trained on the subject on a periodic basis.

The Management of the Firm has approved this statement.

12. Research Payment Account Disclosure Form

Please click here to access the Research Payment Account Disclosure Form.

凱敏雅克資產管理公司

投資組合管理公司(AMF核准編號GP 97-08,核准日期1997年3月13日) 股份有限公司,股本15,000,000歐元,營業登記編號RCS Paris B 349 501 676 註冊地址:24, place Vendôme, 75001 Paris 董事長:Mr. Edouard Carmignac 公共關係董事:Mr. Christophe Peronin

凱敏雅克資產管理公司盧森堡

地址: City Link, 7, rue de la Chapelle – L-1325 Luxembourg 電話: (+352)4670 601 - 傳真: (+352)4670 6030 UCITS管理公司(CSSF執照核准日期: 2013年6月10日) 凱敏雅克資產管理公司子公司 股份有限公司,股本23,000,000歐元 - 營業登記編號RC Luxembourg B67549