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Risques et avantages en bref

Orientation vers la croissance

L’indice MS Value Protect CHF vise à maximiser la participation au marché des actions tout en offrant une sécurité. La stratégie d’investissement sous-jacente investit dans deux portefeuilles: le portefeuille de base, composé du Solactive Sustainable Value Index AR, et le portefeuille de stabilisation, composé du marché monétaire en francs suisses.

Contrôle du risque

La stratégie d’investissement de l’indice MS Value Protect CHF est basée sur un objectif de volatilité de 5%. Si le portefeuille de base a une volatilité réalisée supérieure à 5%, une réaffectation vers le portefeuille de stabilisation a lieu.

Protection des gains

En tant que composante fixe de l’indice, cette composante d’investissement garantit que l’indice ne peut jamais descendre en dessous de son niveau de couverture. Le jour du lancement de l’indice, le niveau de couverture est défini comme un pourcentage du niveau initial, à savoir 90%. Le niveau de l’indice est surveillé trimestriellement et la performance est garantie à 90% lorsque l’indice MS Value Protect CHF atteint un nouveau sommet à la fin de chaque trimestre.

Ajustement dynamique

Les pondérations des portefeuilles sont ajustées quotidiennement pour répondre aux conditions actuelles et changeantes du marché.

Composante d’investissement pour la protection des gains

La protection des gains de l’indice MS Value Protect CHF est obtenue par l’utilisation d’un instrument financier (appelé dérivé) et implique des coûts. Sur les marchés latéraux ou à la hausse, le rendement d’un indice avec protection des gains sera inférieur à celui d’un indice sans protection des gains.

Les coûts intégrés réduisent les performances de l’indice

Les coûts de transaction et de financement découlant des ajustements de pondération ou de la détention d’investissements qui réduisent la performance de l’indice sont déjà inclus dans l’indice.

Couverture du risque de change

L’indice MS Value Protect CHF est calculé en francs suisses et le portefeuille de base en euros. L’indice MS Value Protect CHF est largement protégé contre les risques de change entre ces deux devises. Cependant, les rendements intrajournaliers du portefeuille de base sont toujours soumis aux fluctuations des taux de change entre ces deux devises qui ne peuvent être éliminées.

Calcul en tant que Excess Return

L’indice ne prend pas en compte les revenus d’intérêts sur la composante du marché monétaire enfrancs suisses.

Simulation historique de l’évolution de l’indice

L’indice sera lancé le 17 juin 2022 (jour de lancement). Toutes les données précédentes sur la performance de l’indice MS Value Protect CHF sont basées sur des performances historiques simulées. La performance historique (réalisée ou simulée) n’est pas un indicateur de la performance future.

Stratégie et performance de l’indice

Il s’agit d’un indice quantitatif, basé sur des règles. Il n’y a aucune garantie que l’indice génère des rende- ments positifs à l’avenir. L’indice n’est pas régulé activement et sa valeur peut aussi bien baisser qu’augmenter. Un investissement dans l’indice peut ne pas donner les mêmes résultats qu’un investissement direct dans les composants de l’indice.

Conflits d’intérêts potentiels

Morgan Stanley & Co. International plc est à la fois le sponsor de l’indice et l’agent de calcul. Morgan Stanley & Co. International plc et ses filiales peuvent être impliquées dans des transactions relatives à l’indice ou à ses composants. Ces activités peuvent avoir un impact à la fois positif et négatif sur la valeur de l’indice. Les éléments du calcul de l’indice sont basés sur des données non publiques et des évaluations internes de Morgan Stanley & Co. International plc.

Autres risques

Il existe d’autres risques liés à l’indice qui pourraient avoir un impact sur la valeur de l’indice, y compris (mais sans s’y limiter) le risque de change, le rôle de l’agent de calcul dans le calcul de la valeur de l’indice et les perturbations qui rendent le calcul par l’agent de calcul impossible.

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