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Therefore, we match SRI funds with conventional funds that are initially similar and estimate the differences over time in performance and fees between the initially similar funds. We report results for simple and biased-adjusted estimators obtained using one and four matches per SRI fund. The one-match procedure is the one that most closely approximates the matched-pair methodology used in previous studies and it maximizes the quality of the matches, although at the cost of a small sample size. In some specifications, we use two, rather than four matches, because of a low number of available fund-year observations | HSBC GLOBAL INVESTMENT FUNDS investment company with variable capital incorporated in Luxembourg PROSPECTUS JULY 2012 VISA 2012 87288-256-0-PC L apposition du visa ne peut en aucun cas servir d argument de publicité Luxembourg ie 2012-08-24 Commission de Surveillance du Secteur Financier 1 Contents IMPORTANT INFORMATION.4 SECTION 1 GENERAL INFORMATION.6 1.1. INVESTMENT Objectives and Policies of the Company 6 1.2. Profile of the Typical investor Categories 6 1.3. SHARE Class information 7 1.4. GENERAL RISK Considerations 9 1.5. Risk-Management Process 12 SECTION 2 COMPANY DETAILS.14 2.1. SUMMARY of Principal features 14 2.2. SHARES 14 2.3. How to buy shares 15 2.4. How to sell shares 17 2.5. foreign Exchange transactions 19 2.6. How to convert between Sub-Funds Classes 19 2.7. Suspension of the Calculation of the net asset value and issue allocation Conversion redemption and Repurchase of shares 20 2.8. Prices of shares and Publication of Prices and NAV 20 2.9. DIVIDENDS 22 2.10. Charges and Expenses 22 1 Explanation of the Charging Structure.22 2 Management Fee.23 3 Performance Fees.23 4 Operating Administrative and Servicing Expenses Operating Currency Hedging Fees.24 5 Charges and Expenses of the Subsidiaries.25 6 Other Charges.25 2.11. Management Company and investment advice 25 2.12. depositary bank and Paying agent 26 2.13. Administration 26 1 Administration Agent.26 2 Registrar and Transfer Agent.26 3 Domiciliary Agent.26 2.14. distribution of shares 27 1 Hong Kong Representative and Distributor.27 2 Representative in the United Kingdom.27 3 Singapore Representative and Distributor.27 2.15. MEETINGS AND Reports 27 2.16. AVAILABILITY of documents 27 2.17. Conflicts of interest 28 2.18. Taxation 28 1 Taxation of the Company.28 2 Taxation of shareholders.30 2.19. liquidation of the Company Termination of Sub-Funds 32 1 Liquidation of the Company and Amalgamation of Sub-Funds.32 2 2 Termination and Amalgamation of Sub-Funds.33 SECTION 3 SUB-FUND INFORMATION.34 .
