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Who is SG ? 
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HOW TO INVEST
All SG Investment Strategies are freely tradable on the London Stock Exchange each day from 08:15 to 16:30. No stamp duty or PTM levy is payable for trades. Settlement is via CREST on a T+3 basis.
Pricing is available from most data vendors using the four character product code, eg: Reuters: "SG16.L" Bloomberg: "SG16 LN Equity" or "SG16 Corp" Counterparty details for SG are as follows: LSE name / number: DGOD / 526 CREST account: EXXNK Full listing documentation (the Term Sheet and Pricing Supplement) can be accessed by contacting the SG sales team. The minimum trade size is just one product - generally £1,000 at issue. Listed Products can be held in SIPPs (but not in an ISA), or held directly. Risk warning requirements apply (see below) if the products are held directly by private investors. Certain structures (see below) can be held by UCITS funds for the purposes of EPM. Profits from Investment Strategies are subject to Capital Gains tax only, unless there is an unconditional capital guarantee built into the product. In this case the product is considered to be a note by the FSA, with all gains treated as income (unless held in a suitable tax shelter.) RISK DISCLOSURE REQUIREMENTS FOR PRIVATE INVESTORS Securitised Derivatives - Covered Warrants
Appropriateness Test: These are similar to ordinary warrants but may confer a right to acquire or sell one or more types of investment, and normally exercisable against someone other than the issuer of the underlying investment. Alternatively, they may give you rights under a contract for differences which allows for speculation on fluctuations in the value of an asset of any description or an index, (such as the FTSE 100 index). These instruments often involve a high degree of gearing, so that a relatively small movement in the price of the underlying investment may result in a much larger movement in the price of the warrant which can therefore be highly volatile. These instruments have a limited life, and may (unless there is some form of guaranteed return) expire worthless if the underlying instrument does not perform as expected. Securitised derivatives are classified as complex financial products and therefore prior to trading with your Broker they will be required to assess whether you have necessary knowledge and experience in order to understand the risks involved in dealing in Warrants and other Derivatives. http://fsahandbook.info/FSA/html/handbook/COBS/10 Suitability Test: The purpose of the suitability test is to ensure that the products and services offered meet the client’s investment objectives. In addition it ensures that the client shall be able financially to bear - and have the necessary experience and knowledge to understand - the risks involved with the investment. When providing personal recommendations in relation to Securitised Derivatives your advisor must have undertaken a suitability test and must only recommend products and services that are in accordance with the results of the suitability test . http://fsahandbook.info/FSA/html/handbook/COBS/9 USE OF INVESTMENT STRATEGIES BY UCITS FUNDS Investment Strategies are eligible derivatives for UCITS funds as they are traded on an RIE - the London Stock Exchange. UCITS III funds who can invest in derivatives can hold any Investment Strategies issued by SG. UCITS funds that use derivatives for the purposes of Efficient Portfolio Management (EPM) can use certain types of of Listed Products: (1) Those that Reduce Risk (such as Protected Accelerators or Reverse Trackers) |
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