Insights

MARKETING COMMUNICATION FOR PROFESSIONAL INVESTORS ONLY – 10/03/2026

General

This is a marketing communication. Please refer to the prospectus of SMD-AM UCITS Fund (the “Fund”), and the Key Information Document (“KID”) for the relevant sub-fund before making any final investment decision. Investors should also take into account all of the relevant sub-fund’s characteristics and objectives as described in the prospectus and other fund documentation before investing. Financial information on the Fund is provided in the latest audited annual report or interim, whichever is newest. The KID, the prospectus, the articles of incorporation and the most recent annual report and the latest semi-annual report, if published thereafter, are the only binding basis for the purchase of shares and investment decisions should be based solely on this. These documents can be obtained free of charge at Sumitomo Mitsui DS Asset Management (Deutschland) GmbH, and on https://www.smd-am.co.uk/fund-centre. The prospectus of the Fund is available in English and the KID is available in the official language of the countries in which the Fund is available for distribution. Please note that the prospectus is not available in French.

This marketing communication is provided to you by Sumitomo Mitsui DS Asset Management (Deutschland) GmbH. Sumitomo Mitsui DS Asset Management (Deutschland) GmbH is a limited liability company incorporated in Germany under the company registration number HRB 141563, with registered office at Neue Mainzer Straße 52-58, 60311 Frankfurt am Main, Germany. 
Sumitomo Mitsui DS Asset Management (Deutschland) GmbH provides investment brokerage services within the meaning of Section 2(2)(3) of the German Investment Firms Act (Wertpapierinstitutsgesetz – “WpIG”) as a tied agent pursuant to Section 3(2) WpIG. It acts exclusively for the account and under the liability of AHP Capital Management GmbH, whose registered office at Weissfrauenstraße 12-16, 60311 Frankfurt am Main, Germany. The competent German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - “BaFin”) maintains a public register of tied agents. Sumitomo Mitsui DS Asset Management (Deutschland) GmbH is listed in this register under number 80182094.

For the avoidance of doubt, Sumitomo Mitsui DS Asset Management (Deutschland) GmbH acts exclusively for the account and under the liability of AHP Capital Management GmbH and is not itself authorised as an investment firm within the meaning given to this term by Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast) (“MiFID II”).  
The information contained in this marketing communication has been prepared for information purposes only. No representation, warranty, or undertaking, express or limited, is given by Sumitomo Mitsui DS Asset Management (Deutschland) GmbH as to the accuracy or completeness of the information contained in this document. Sumitomo Mitsui DS Asset Management (Deutschland) GmbH takes reasonable measures to ensure that the contents of this document is up-to-date, accurate and complete. However, the underlying data may have changed, which means that content supplied is not necessarily always up-to-date, accurate and complete. As a result, Sumitomo Mitsui DS Asset Management (Deutschland) GmbH assumes no liability for direct or indirect damage, including loss of earnings, occurred in connection with the use of content provided on this website. Sumitomo Mitsui DS Asset Management (Deutschland) GmbH explicitly reserves the right to completely or partially modify, amend this document or individual sections thereof without prior or separate notification.

This marketing communication and any information contained herein is exclusively intended for use by and directed at individuals who are “professional clients” within the meaning given to this term by MiFID II. 

No Offer; no Invitation to Buy - This marketing communication does not constitute advice, or a personal recommendation to buy, sell, hold or otherwise transact in the Fund, securities or other specific investment products. The prices and valuations shown are non-binding and, like other included information, are for informative purposes only. You should read the KID, the prospectus and the last half / annual report and contact a professional adviser for personalised advice before making any investment decision.

No Investment Advice; No Investment Recommendation or Investment Strategy Recommendation -The information contained in this marketing communication does not represent investment advice within the meaning of Article 4(1) (4) MiFID II or any other recommendation to buy securities or products within the meaning of Article 3(1)(34) of Regulation (EU) No 596/2014 or investment recommendations within the meaning of Article 3(1)(35) of Regulation (EU) No 596/2014.

Risk Warning - You should be aware that there are significant risks associated with the Fund. The complete information on the Funds or respective sub-fund’s risks can be found in the prospectus and the KID, which are available as described above. An investment should not be contemplated until the risks are fully considered.

You are reminded that past performance should not be seen as an indication or a guarantee to future performance, and no representation or warranty, express or implied, is made regarding future performance. Investment in any financial instrument and/or designated investment involves risks, including the potential loss of the entire amount you have invested. 
The price and the value of investments and income derived from them can fall as well as rise. Stock markets are volatile and subject to fluctuations. All derivative instruments and alternative investments are highly volatile and certain investments may be illiquid, over-the-counter and/or in non-publicly quoted securities or instruments or in financially distressed companies or instruments.

Investor Rights - A summary of investor rights is available free of charge in English at the following link: https://www.vistra.com/sites/default/files/2024-05/summary-of-investor-rights-luxembourg-klmc.pdf. The management company of the Fund may decide to terminate the arrangements made for the marketing of the respective sub-fund in any jurisdiction.
Costs - Complete information on costs and charges can be found in the Fund’s prospectus. Where applicable, costs may increase or decrease as a result of currency and exchange rate fluctuations. The performance data included in this marketing communication is presented net of fund-level fees only. Additional custody and advisory charges that may be imposed by your intermediary or external advisor may apply from time to time. Such costs may reduce the overall performance. 
No Responsibility for Information - Sumitomo Mitsui DS Asset Management (Deutschland) GmbH assumes no responsibility for the use of this document or its contents. This document does not contain any representation made by Sumitomo Mitsui DS Asset Management (Deutschland) GmbH nor by the management company of the Fund. 

Additional Information for US Citizens - For the avoidance of doubt, the information contained in this document and the Fund presented herein are not intended for distribution in the United States of America or to US persons (i. e. individuals that are either citizens or residents of the United States of America and / or are subject to US taxation as well as partnerships or corporations that have been incorporated under the laws of the USA, a US State, US territory or US possession). Shares in the Fund are therefore neither offered nor sold in the United States of America or to or on the account of US persons. Any subsequent transfer of investment fund units into the United States of America or to US persons is not permitted.

Sustainability Related Disclosures - The sub-funds of the Fund are making the following disclosures under Regulation (EU) 2019/2088 (Sustainable Finance Disclosure Regulation - “SFDR”):
Article 6 Sub-Funds (sustainability risks integrated):
     ■ DSBI Japan Equity Small Cap Absolute Value
     ■ SMD-AM Japan Mid Small Cap Value
Article 8 Sub-Funds (promotion of environmental and/or social characteristics):
     ■ SMD-AM Japan Equity High Conviction Fund;
     ■ SMD-AM China A Shares Fund; and
     ■ SMD-AM Ares ESG Enhanced Global High Yield Bond Fund

Detailed sustainability-related disclosures for the Fund, as required by SFDR, are available for all Sub-Funds at www.smd-am.co.uk/sustainability/.

Investors should note that, relative to the expectations of the Autorité des Marchés Financiers in France, the Fund presents disproportionate communication on the consideration of non-financial criteria in its management.  

Management Company: 
Vistra Fund Management S.A. 
16, rue Eugène Ruppert, L-2453 Luxembourg

Paying Agents:    
Luxembourg:    
Brown Brothers Harriman (Luxembourg) S.C.A.
20 Route d’Esch, L-1470 Luxembourg

Contact Details
Should you have any questions or require further information, please contact:
Oskar Potyka CFA – Director, Business Development
Email: oskar_potyka@smd-am.co.jp

Sumitomo Mitsui DS Asset Management (Deutschland) GmbH
Address: Neue Mainzer Straße 52-58, 60311 Frankfurt am Main, Germany
Managing Directors: Takashi Kume / Thomas Waldhart-Knopp
Local Court: Amtsgericht Frankfurt am Main
Company Registration Number: HRB 141563
VAT no.: DE459924853
Website: www.smd-am.de