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Please read the important information below before continuing to our website

The Lyxor ETFs on this website may be restricted for certain individuals or in certain countries pursuant to the national regulations applicable to those individuals or countries. It is therefore your responsibility to ensure that you are authorised to invest in the Lyxor ETFs on this website. 

 

If you are an investor in the United Kingdom, please go to www.lyxoretf.co.uk  

If you are an investor in the Netherlands, please go to www.lyxoretf.nl  

If you are an investor in Italy, please go to www.lyxoretf.it  

If you are an investor in Spain, please go to www.lyxoretf.es  

If you are an investor in Austria, please go to www.lyxoretf.at  

If you are an investor in Germany, please go to www.lyxoretf.de   

If you are an investor in Singapore, please go to www.lyxoretf.com.sg  

If you are an investor in Switzerland, please go to www.lyxoretf.ch  

If you are an investor in Belgium, please go to www.lyxoretf.be  

If you are an investor in Poland, please go to www.lyxoretf.pl 

If you are an investor in Norway, please go to www.lyxoretf.no

If you are an investor in Denmark, please go to www.lyxoretf.dk

If you are an investor in Luxembourg, please go to www.lyxoretf.lu

If you are an investor in Sweden, please go to www.lyxoretf.se

If you are an investor in Finland, please go to www.lyxoretf.fi

 

 

The Lyxor ETFs on this website are undertakings for collective investment in transferable securities (UCITS) (i) domiciled in France and approved by the Autorité des Marchés Financiers (AMF) or, (ii) domiciled in Luxembourg, approved by the Commission de Surveillance du Secteur Financier (CSSF) and authorised to market their units or shares in the French Republic in accordance with the notification procedure under Article 93 of Directive 2009/65/EC. Investors should note that the prospectuses of certain Lyxor ETFs under Luxembourg law that have been notified in accordance with this procedure are only available on the website in English. A French translation of these prospectuses can be obtained upon request by sending a letter to Lyxor International Asset Management (“Lyxor”) – 17 Cours Valmy, 92987 Paris La Défense, France.

 

The information on this website is not intended for persons or entities that are resident, located or registered in jurisdictions that are not authorised to distribute Lyxor ETFs. As a result, the information on this website does not constitute an offer or solicitation to buy or sell units or shares in these ETFs by anyone in any jurisdiction:

 

(a)   in which such an offer or solicitation is unauthorised;

(b)   in which Lyxor is not qualified to make such an offer or solicitation; or 

(c)   in which it is unlawful to make such an offer or solicitation.

 

In particular, the Lyxor ETFs on this website are not and will not be registered under the United States Securities Act of 1933, as amended. As such, they may not be offered or sold within the United States of America, except in specific cases where transactions are exempt from registration under the Securities Act. The ETFs listed on this website may not be sold to US citizens or transferred to the United States by any other means, unless this transaction is not subject to any specific registration under US law. 

 

Any person from a jurisdiction to which the above-mentioned restrictions apply should inform themselves of and observe these restrictions.

 

This website is intended for commercial purposes and is not regulatory in nature. Although the information provided has been drawn up on the basis of sources considered to be reliable, there is no guarantee that it is accurate, complete or relevant. Some of the information on this website is provided on the basis of market data collected at a specific time and may therefore vary over time. Lyxor advises investors to read the risk factors section of the prospectus and the key investor information document carefully. These documents can be found on the website.

 

The net asset value (“NAV”) of Lyxor ETFs may at any time be subject to considerable price fluctuations, which in some cases may lead to the loss of all of the capital invested. Investors should note that some ETFs may be sensitive to fluctuations in the exchange rate between their reference currency and that of the underlying index, as well as of the components of the underlying index.

 

Before investing in a Lyxor ETF, you should carry out your own risk analysis of the product from a legal, tax and accounting perspective, rather than basing your decision solely on the information provided. If necessary, you should consult your own advisers or any other qualified professional. 

 

Subject to compliance with the legal obligations by which they are bound, Lyxor or any entity within the same group shall not be held liable for any financial or other consequences of an investment in the product. 

 

 

By clicking on institutional or individual above, I confirm that I have read and understood the information provided herein, and that I am resident or registered in Belgium.

19 Jan 2021

Why our ETFs now come with a temperature

A lot has been said and written about the importance of climate change for investors. Said… written… but not often done. The world can’t afford any more hot air.

At Lyxor, we don’t just talk about climate change. We try to do something about it. This week, we took a major step along that path by becoming the first ETF provider in the world to publish temperatures for most of the indices underpinning our funds.

These temperatures make it much simpler for investors to compare the warming impact of their investments to the targets of the 2015 Paris Agreement – to limit global warming to no more than 2°C above the pre-industrial level, and ideally 1.5°C. For the first time, you can see exactly how more than 150 Lyxor ETFs align with this goal.

The time for empty talk is over. Read on to learn more about Lyxor’s new COtool for ETFs, and what it means for corporate responsibility and the future of investing.


Let’s start slowly. Why did you release this kind of information?

It’s simple: we believe it’s high time we all had a better way to judge where to put our money. The global investment community is responsible for vast amounts of wealth, but it doesn’t always have the tools needed to deploy this wealth in the most impactful way.

More broadly, we recognise that the financial industry is on the cusp of a revolution. A revolution where total transparency and honesty rule – where investors have all the information and tools that they need to make truly informed investment decisions.

By publishing index temperatures, we can identify the real deal, and clearly see how a fund helps or hinders climate action.

That’s a bold claim. Can you prove that your temperatures are the real deal?

We have analysed all the various options to measure a portfolio’s alignment with the Paris Agreement – and yes, we believe our methodology gives the most accurate results on temperature impact.

We’ve compared each possible climate alignment methodology to select the most consistent and comprehensive approach. Because of that, we stand by our methodology, and its benefits and limitations compared to all other methodologies under development.

Our approach starts with a third-party data provider, to guarantee an independent view on the temperature impact of our funds. Not just any third party: Trucost, a climate and ESG data leader and part of S&P Global. Trucost delves into each of the individual companies of an index to analyse their past, current, and forecast emissions. These emissions define the decarbonisation trajectory for that company. For our part, we take all of Trucost’s data on those companies, and use it to calculate a temperature for the index – and the ETF tracking it. 

Trucost uses two different approaches to score the temperature impact of companies in the indices tracked by our ETFs. These two approaches are recommended by several international climate organisations such as the Science Based Targets Initiative, a leader in decarbonisation target-setting.

For companies in carbon-intensive sectors – think power production, steel, or aviation – temperature impact is assessed with the Sectoral Decarbonisation Approach (SDA). This assesses temperature impact through a measure known as ‘carbon intensity’, in this case based on a physical unit such as a kilowatt hour of energy or ton of steel.

For other sectors, the Greenhouse Gas Emissions per unit of Value Added (GEVA) approach is used. As opposed to physical units, this assesses carbon intensity and temperature impact using emissions generated per unit of economic value.

These measures give us a temperature for each eligible ETF, which is any ETF for which more than 80% of its assets are covered by Trucost’s database.

This is technical stuff, and like all methodologies it has its pluses and minuses. But we believe it’s the most robust way to measure climate impact that is available today.

That is technical indeed. What can I learn from a fund’s temperature?

In a nutshell, you can see the implied impact your investments could have on global warming, based on forecast data for the next five years.

Scientists tell us that effects of global warming of +3°C above pre-industrial levels would be devastating for the planet. Our data shows that several of the world’s major ‘business as usual’ indices are currently pointing towards that outcome. That might change – and our tool will tell you when it does.

You might also wonder what a high figure might mean for a fund’s long-term returns. Could it suggest underlying risks which aren’t being reflected in its price?

However, you should also remember that a temperature score is unavoidably based on some assumptions. It combines historical data with other data that is forecast or modelled into the future, such as estimates of future carbon emissions. It’s based on the best information that is available at a given moment, so it won’t be perfect in every situation.

Sometimes there will be a change which results from updates to the underlying assumptions, rather than a real increase or decrease of emissions generated by the fund’s issuers. A temperature can fluctuate based on changes to a fund’s composition, issuer values within that fund, or updates to scenario trajectories.

Without a doubt, these models will keep evolving. But we believe the information is too important to hide or delay.

I want to check my ETF’s temperatures. How do I use the tool?

Lyxor’s temperature score tool, called the COtool, is available here.

Filter by asset class, market, and/or exposure to display the global warming impact your investments currently imply over the years to come – and compare with others to discover more climate-friendly options. 

In the weeks ahead, we will examine some of the most interesting results from the tool and address any specific questions we receive.

Check out our COtool and explore our Climate ETF range for Paris-aligned solutions

Risk Warning

This document is for the exclusive use of investors acting on their own account and categorised either as “Eligible Counterparties” or “Professional Clients” within the meaning of Markets in Financial Instruments Directive 2014/65/EU. These products comply with the UCITS Directive (2009/65/EC). Société Générale and Lyxor International Asset Management (LIAM) recommend that investors read carefully the “investment risks” section of the product’s documentation (prospectus and KIID). The prospectus and KIID are available free of charge on www.lyxoretf.com, and upon request to client-services-etf@lyxor.com.

Except for the United-Kingdom, where this communication is issued in the UK by Lyxor Asset Management UK LLP, which is authorized and regulated by the Financial Conduct Authority in the UK under Registration Number 435658, this communication is issued by Lyxor International Asset Management (LIAM), a French management company authorized by the Autorité des marchés financiers and placed under the regulations of the UCITS (2014/91/EU) and AIFM (2011/61/EU) Directives. Société Générale is a French credit institution (bank) authorised by the Autorité de contrôle prudentiel et de résolution (the French Prudential Control Authority).

The products mentioned are the object of market-making contracts, the purpose of which is to ensure the liquidity of the products on the London Stock Exchange, assuming normal market conditions and normally functioning computer systems. Units of a specific UCITS ETF managed by an asset manager and purchased on the secondary market cannot usually be sold directly back to the asset manager itself. Investors must buy and sell units on a secondary market with the assistance of an intermediary (e.g. a stockbroker) and may incur fees for doing so. In addition, investors may pay more than the current net asset value when buying units and may receive less than the current net asset value when selling them. Updated composition of the product’s investment portfolio is available on www.lyxoretf.com. In addition, the indicative net asset value is published on the Reuters and Bloomberg pages of the product, and might also be mentioned on the websites of the stock exchanges where the product is listed.

Prior to investing in the product, investors should seek independent financial, tax, accounting and legal advice. It is each investor’s responsibility to ascertain that it is authorised to subscribe, or invest into this product. This document is of a commercial nature and not of a regulatory nature. This material is of a commercial nature and not a regulatory nature. This document does not constitute an offer, or an invitation to make an offer, from Société Générale, Lyxor Asset Management (together with its affiliates, Lyxor AM) or any of their respective subsidiaries to purchase or sell the product referred to herein.

Research disclaimer

Lyxor International Asset Management (“LIAM”) or its employees may have or maintain business relationships with companies covered in its research reports. As a result, investors should be aware that LIAM and its employees may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Please see appendix at the end of this report for the analyst(s) certification(s), important disclosures and disclaimers. Alternatively, visit our global research disclosure website www.lyxoretf.com/compliance.

Conflicts of interest 

This research contains the views, opinions and recommendations of Lyxor International Asset Management (“LIAM”) Cross Asset and ETF research analysts and/or strategists. To the extent that this research contains trade ideas based on macro views of economic market conditions or relative value, it may differ from the fundamental Cross Asset and ETF Research opinions and recommendations contained in Cross Asset and ETF Research sector or company research reports and from the views and opinions of other departments of LIAM and its affiliates. Lyxor Cross Asset and ETF research analysts and/or strategists routinely consult with LIAM sales and portfolio management personnel regarding market information including, but not limited to, pricing, spread levels and trading activity of ETFs tracking equity, fixed income and commodity indices. Trading desks may trade, or have traded, as principal on the basis of the research analyst(s) views and reports. Lyxor has mandatory research policies and procedures that are reasonably designed to (i) ensure that purported facts in research reports are based on reliable information and (ii) to prevent improper selective or tiered dissemination of research reports. In addition, research analysts receive compensation based, in part, on the quality and accuracy of their analysis, client feedback, competitive factors and LIAM’s total revenues including revenues from management fees and investment advisory fees and distribution fees.

Notice to Investors in Asia-Pacific Region

This document is not directed at retail investors and is prepared for and intended to be distributed in the Asia-Pacific region solely to sophisticated and professional investors. You should therefore be appropriately qualified as a professional, accredited, wholesale, expert or institutional investor (however defined in your local jurisdiction). It is distributed by licensed affiliates of Société Générale (“SG”) which is a French credit institution (bank) authorised by the Autorité de Contrôle Prudentiel (the French Prudential Control Authority) in accordance with applicable regulations and SG’s internal policy. You should be aware that local regulations may not allow this document to be distributed from your local SG licensed affiliate, but may allow it to be distributed from an offshore branch or affiliate under certain circumstances. If in any doubt, you should always determine which licensed affiliate is responsible for distributing this document to you by contacting SG. You should also be aware that financial products or services referred to may not be sold, bought or subscribed to if you do not qualify in your local jurisdiction. Always ensure that you contact and deal through appropriately licensed entities if you wish to purchase any such products or services.

No further disclosure, reproduction or reliance permitted: This document has been prepared solely for persons it has been distributed to directly by SG. Its contents may not be disclosed to, reproduced or used or relied upon by, any other person, or used for any other purpose.

For Recipients where this document is distributed by SG Securities (HK) Limited: This document is distributed to you by SG Securities (HK) Limited (CE: AAD941) (“SGSHK”) as an activity that is wholly incidental to its carrying out of a regulated activity for which it is already licensed. Details of SGSHK's licence can be provided upon request.

SGSHK has been appointed by Lyxor Asset Management, Lyxor International Asset Management, and Lyxor Funds Solutions S.A. (“Lyxor”) to promote the funds launched by Lyxor. Investors and prospective investors should note that a service fee may be paid by Lyxor to SGSHK for its services.

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For Recipients in Hong Kong: This document is issued solely to “professional investors” within the meaning of the Securities and Futures Ordinance (Cap. 571) of Hong Kong and any rules made under that Ordinance.

For Recipients in Singapore: This document may only be provided to institutional investors, as defined in Section 4A of the Securities and Futures Act. If you wish to discuss this document or effect transactions in any security discussed herein, you should do so with or through MAS licensed representatives of Société Générale, Singapore Branch.

Notice to Australian investors: This document is distributed by SG Securities (HK) Limited, a Registered Foreign Company and Foreign Financial Services Provider in Australia (ARBN 126058688) that is exempt from the requirement to hold an Australian financial services licence under the Corporations Act 2001 (“Act”). SG Securities (HK) Limited is regulated by the Securities and Futures Commission under Hong Kong laws, which differ from Australian laws. The information contained in this document is only directed to recipients who are professional investors as defined under the Act.

Société Générale (ABN 71 092 516 286) (AFSL 511956) is a foreign Authorised Deposit-Taking Institution under the Banking Act 1959 (Cth) and the transactions which may be proposed and products which may be issued as described in this document do not form deposits or other funds of Société Générale.

Neither SG Securities (HK) Limited nor any other entity described in this document (aside from Société Générale) is an Authorised Deposit-Taking Institution and the transactions which may be proposed and products which may be issued as described in this document do not form deposits or other funds of Société Générale. Unless this document expressly provides that Société Générale will provide a guarantee, Société Générale does not guarantee the obligations or liabilities of SG Securities (HK) Limited or any other entity in respect of any proposed transactions or products and those obligations do not represent liabilities of Société Générale.

This document is only made available in Australia to persons to whom a disclosure document such as a prospectus or product disclosure statement is not required to be given under either Chapter 6D or Chapter 7.9 of the Act. This document is not a prospectus, product disclosure statement or any other form of formal "disclosure document" for the purposes of Australian Law, and is not required to, and does not contain all the information which would be required in a product disclosure statement or prospectus under Australian law.

This document has not been and will not be lodged or registered with the Australian Securities and Investments Commission or ASX Limited or any other regulatory body or agency in Australia. The persons referred to in this document may not hold Australian Financial Services licences and no cooling off regime applies to an acquisition of any interest.

This document does not take into account the investment objectives, financial situation or needs of any particular person. Accordingly, before making an investment decision in relation to this document, you should assess whether the acquisition of any interest is appropriate in light of your own financial circumstances or seek professional advice. 

For Documents Distributed in China from Offshore (as a Result of a Reverse Enquiry): This document has been prepared and distributed by Société Générale and/or SG Securities (HK) Limited as a result of a reverse enquiry by you. Societe Generale (China) Limited has not been involved with the preparation or distribution of this document. The products or services that may be mentioned in this document may not be able to be provided in China. Any products or services mentioned in this document to be provided are subject to laws and regulations and regulator’s requirements in China, as well as the formally executed legal documents (if any).

Notice for Documents Distributed in Taiwan: This document has been provided to you as a result of reverse enquiry and may only be distributed to “professional institutional investors” within the meaning provided in the applicable regulations in Taiwan. The product(s) or service(s), if any, mentioned in this document are subject to laws and regulations and regulator’s requirements in Taiwan and may not be eligible or available for sale in Taiwan. 

Notice to Korean Investors: This document is distributed by SG Securities (HK) Limited outside Korea and intended for Korean financial institutions holding the dealing or brokerage business license under the Financial Investment and Capital Market Act of Korea and the Enforcement Decree thereof.  For other types of clients, this is distributed upon their request only. SG Securities (HK) Limited is regulated by the Securities & Futures Commission under Hong Kong laws. The product mentioned in this document may not be eligible or suitable for all types of investors. This document is not intended for private customers.

For Korean Investors Receiving this document from SG Securities Korea: This document is distributed by SG Securities Korea Co., Ltd. SG Securities Korea Co., Ltd is regulated by the Financial Services Commission and the Financial Supervisory Service under Korean laws. The product mentioned in this document may not be eligible or suitable for all types of investors. This document is not intended for private customers.

Notice to Japanese Investors: This document is distributed in Japan upon your request by Societe Generale Securities Japan Limited or Société Générale, Tokyo Branch, which is regulated by the Financial Services Agency of Japan. This document is intended only for the Qualified Institutional Investors as defined by the Financial Instruments and Exchange Law in Japan and only for those people to whom it is sent directly by Societe Generale Securities Japan Limited or Société Générale, Tokyo Branch, and under no circumstances should it be forwarded to any third party.

For Recipients in Thailand receiving this document from offshore: This document has been prepared and distributed by SG Securities (HK) Limited ("SGSHK"). This document is provided solely at your request and SGSHK does not have any intention to solicit you for entering into any transactions or transacting in any product contemplated by this document (the “product”). Any such solicitation or marketing will be made by an entity permitted by the applicable laws and regulations. This document is not intended to be either an offer, sale, or invitation for subscription or purchase of the product. This document has not been registered as a prospectus with the Office of the Securities and Exchange Commission of Thailand. Accordingly, this document and any other documents and materials, in connection with the offer or sale, or invitation for subscription or purchase of securities, may only be circulated or distributed by an entity as permitted by applicable laws and regulations. Neither SGSHK, any representatives, directors, employees of SGSHK nor any other entities affiliated with SGSHK make any representations or warranties, expressed or implied, with respect to the completeness or accuracy of any of the information contained in this document or any other information (whether communicated in written or oral form) transferred or made available to you. Investments in the product involves risks and investors should exercise due care and discretion in considering the investment risks. Investors should carefully study the investment risks and ensure that they have a good understanding of such risks.

Notice to Malaysian Investors: This material has been provided to you at your specific request. This material has not been or will not be registered or filed under the securities law or with any securities regulatory authority in Malaysia. Under no circumstances shall this material constitute an offer in Malaysia to sell or the solicitation in Malaysia of an offer to buy, the products described herein. This document has been prepared by [Lyxor International Asset Management] and distributed by Société Générale (“SG”) or its affiliates outside Malaysia at your specific request. SG’s local representative office has not been involved with the preparation or distribution of this document. Any products or service that may be mentioned in this document are subject to local laws and regulations, and may not be able to be provided in your jurisdiction under certain circumstances.

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