1. Introduction
As required under the codes and guidelines issued by the Hong Kong Securities and Futures Commission ("SFC"), the purpose of this document is to disclose information about climate- related risks considerations of Triata Capital Limited ("Triata", “Firm”) with respect to the Fund managed by the Firm.
The disclosures are made for information purposes only and no representation nor warranty is made with respect to the fairness, accuracy, or completeness of this document. The status of the Firm’s governance, investment and risk management and this document may change from time to time. If there are any material changes to Triata’s environmental risk considerations, disclosures shall be made to investors in a timely manner.
2. Corporate Governance
Triata is committed to the highest standards of corporate governance and has implemented a formal corporate board to manage the Firm’s activities and deliver its business objectives. Triata’s Board of Directors (“Board”) comprises of one executive director and two independent directors who has oversight responsibilities pertaining to the Firm. Senior management has the delegated responsibility of implementing policies and procedures approved by the Board and communicates regularly with the Board on matters related to the Firm, including climate- related issues.
A climate-related risk framework (“Framework”) has been developed and implemented to identify relevant risks and assess whether climate-related risks are relevant and material to the Fund managed by the Firm. This Framework has been approved by the Board and shall be reviewed annually.
The Board’s role include i) approving policies to assess and manage climate-related risks relevant to the Fund; ii) setting clear roles and responsibilities of senior management in relation to managing climate-related risks; iii) overseeing the incorporation of climate-related considerations into the investment and risk management processes where such risk is relevant and material; and iv) ensuring that senior management have adequate understanding of climate-related risks, and is equipped with appropriate expertise to manage climate-related risk, as needed.
3. Investment and Risk Management – Relevance and Materiality Assessment
Triata has adopted a quantitative and qualitative approach in assessing the relevance and materiality of climate-related risks with reference to the Sustainability Accounting Standards Board (“SASB”) Standards on materiality. The industry-specific disclosure metrics are applied into the assessment on relevance and materiality of climate-related risks.
Based on the Firm’s assessment, it is considered that climate-related risks are relevant to the Fund and the Firm’s investment strategy, however, the impact of such risks on the assets managed by the Firm is considered immaterial at this juncture. The Board, together with senior management, will review the relevance and materiality assessment periodically.
Important Notice & Disclaimers
This document is a brief Climate Risk summary of Triata Capital Limited.
This information may not be reproduced, in whole or in part, without the written express consent of the party providing the information (the “Manager”). The information is protected under the applicable copyright laws in the US and other countries. This is not a solicitation to buy or an offer to sell interest in our funds, such offers will be made only by distribution of a private placement memorandum and only in compliance with applicable law.
Not an offer and confidential: The information in it is provided for your internal use only. The information contained herein is proprietary and confidential and may not be disclosed to third parties or duplicated or used for any purpose other than the purpose for which it has been provided. Although the information provided herein has been obtained from sources which the Manager believes to be reliable, we do not guarantee its accuracy, and such information may be incomplete or condensed. The information is subject to change without
notice. This communication is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security or of any fund or account (a “Fund”) the Manager manages or offers.
The information contained in it should not be the basis of an investment decision. An Investment decision should be based on your customary and thorough due diligence procedures, which should include, but not be limited to, a thorough review of all relevant term sheets and other offering documents as well as consolation with legal, tax and regulatory experts. Any person subscribing for an investment must be able to bear the risks involved and must meet the particular Fund’s suitability requirements. Some or all alternative investment programs may not be suitable for certain investors. No assurance can be given that any Fund will meet its investment objectives or avoid losses. A discussion of some, but not all, of the risks associated with investing in the Fund can be found in the Fund’s private placement memoranda, subscription agreement, limited partnership agreement, articles of association or other offering documents as applicable (collectively the “Offering Documents”), among those risks, which we wish to call to your attention, are the following:
Future looking statements, Performance Data and strategy level performance reporting: The information here is NOT intended to contain or express exposure recommendations, guidelines or limits applicable to a Fund. The information in this report does not disclose or contemplate the hedging or exit strategies of the Fund. While investors should understand and consider risks associated with position concentrations when making an investment decision, this report is not intended to aid an investor in evaluating such risk. The terms set forth in the Offering Documents are controlling in all respects should they conflict with any other term set forth in other marketing materials, and therefore, the Offering Documents must be reviewed carefully before making an investment and periodically while an investment is maintained. Statements made in this release include forward-looking statements. These statements, including those relating to future financial expectations, involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Unless otherwise indicated, Performance Data is presented unaudited and “net” of management fees and other fund expenses (i.e. legal and accounting and other expenses as disclosed in the relevant Fund’s Offering Documents”) and net of performance allocations. Due to the format of data available for the time periods indicated, both gross and net returns are difficult to calculate precisely. Accordingly, the calculations have been made based on in some cases limited available data and a number of assumptions. Because of these limitations, the performance information should not be relied upon as a precise reporting of gross or net performance, but rather merely a general indication of past performance.
The performance information presented herein may have been generated during a period of extraordinary market volatility or relative stability in a particular sector. Accordingly, the performance is not necessarily indicative of results that the Fund may achieve in the
future. In addition, the foregoing results may be based or shown on an annual basis, but results for individual months or quarters within each year may have been more favorable or less favorable than the results for the entire period, as the case may be. If index information is included, it is merely to show the general trend in the markets in the periods indicated and is not intended to imply that the portfolio was similar to the indices in either composition or element of risk. This report may indicate that it contains hypothetical or actual performance of specific strategies employed by The Adviser, such strategies may comprise only a portion of any specific Fund’s portfolio, and, therefore, the reported strategy level performance may not correspond to the performance of any Fund for the reported time period.
Investment Risks: Investing in the Fund is speculative and involves varying degrees of risk, including substantial degrees of risk in some cases. The Fund may be leveraged and may engage in other speculative investment practices that may increase the risk of investment loss. Past results of the Fund investment manager is not necessarily indicative of future performance of the Fund, and the Fund’s performance may be volatile. The use of a single advisor could mean lack of diversification and, consequently, higher risk. The Fund may have varying liquidity provisions and limitations. There is no secondary market for investors’ interests in the Fund and none is expected to develop.
Not Legal, Accounting or Regulatory Advice: This material is not intended to represent the rendering of accounting, tax, legal or regulatory advice. A change in the facts or circumstances of any transaction could materially affect the accounting, tax, legal or regulatory treatment for that transaction. The ultimate responsibility for the decision on the appropriate application of accounting, tax, legal and regulatory treatment rests with the investor and his or her accountants, tax and regulatory counsel. Potential investors should consult, and must rely on their own professional tax, legal and investment advisors as to matters concerning the Fund and their investments in the Fund. Prospective investors should inform themselves as to: (1) the legal requirements within their own jurisdictions for the purchase, holding or disposal of investments; (2) and applicable foreign exchange restrictions; and (3) any income and other taxes which may apply to their purchase, holding and disposal of investments or payments in respect of the investments of the Fund.