Special legal information

Latest update: July 28, 2022

1. General

By using the LGT web pages, you confirm that you have read, understood and accepted both the general legal information and this special legal information. These legal provisions apply to all information provided electronically by LGT and may be amended at any time and without prior notice. If you are not in agreement with the general legal information and with this special legal information, we would ask you to refrain from accessing the web pages. Any special agreements concerning individual LGT products and services apply in addition to these legal provisions; however, if there is a conflict, the special agreements take precedence.

2. Not a recommendation or an offer

The information, expressions of opinion, products, data, services, tools and documents included or described on these web pages ("content of the web pages") are for information purposes only and do not represent a recommendation, an offer or an invitation to subscribe (or purchase) or redeem (or sell) units, to effect a transaction or to conclude any kind of legal transaction. Some content may be advertising material for financial services or for financial instruments.

The collective investment schemes mentioned on this website are not suitable for all investors. The information provided on the website does not represent a financial, legal, tax and/or other kind of recommendation. Investment decisions or other decisions should not be made solely on the basis of this document. In particular, you should not undertake investments before you have read the relevant fund contract and/or legal prospectus, the annual and semi-annual reports, the articles of association (if applicable) and all other documents which are required by local legislation or regulations in the jurisdictions or countries in which the relevant collective investment scheme is authorized or allowed for public distribution, offer or sale.

In order to ascertain whether an investment in units of a certain investment fund is in line with your specific needs and risk expectations, we recommend that you contact an independent financial advisor. We also recommend that you consult an independent tax advisor in order to find out, with respect to your personal circumstances, about the tax rules connected with a specific investment in your jurisdiction.

3. No guarantee

The content of the web pages may be changed at any time and without prior notice. LGT provides no guarantee and gives no assurances of any kind (including towards third parties) of the accuracy, correctness, completeness and up-to-date status of the content of the web pages. In particular, LGT is not obliged to remove any outdated information from the web pages or to expressly mark it as being outdated. Onward distribution of the content of the web pages and reproduction thereof, completely or in excerpts, are not permitted.

All data available through these web pages, including, amongst other things, financial market data, price data, reports, research or other financial information, are based on sources which were deemed reliable and carefully selected. All available information is provided to the user without guarantee of freedom from defects and without express or tacit assurances or guarantees with respect to quality, authenticity, infringement against intellectual property rights or suitability for a given purpose.

The fact that a user accesses the web pages does not make that user a client of LGT.
Expressions of opinion, assessments and forecasts on the web pages originate with their authors and from the point in time when they were drawn up, and do not necessarily reflect the views of LGT. They may be changed at any time without prior notice. LGT and its contractual partners have the right to withdraw or change information, data and documents as well as the products or services described here at any time and without prior notice. All information which is furnished with a date is published only for this date. There is no obligation or responsibility to update or correct such information.

4. LGT investment products are not authorized for public sale in all countries of the world

The information published on the LGT website is intended not for specific persons, but generally for readers with an interest in LGT investment products. Those wishing to buy investment products should in every case pay close attention to the sales prospectus with integrated investment regulations and the annual/semi-annual reports before doing so. LGT's investment products are not approved for sale in all countries of the world. The LGT website is not intended for persons subject to a jurisdiction that prohibits the publication of or access to the LGT website due to their nationality or domicile or for any other reason. Persons subject to such restrictions may not access the LGT website.

"In particular, LGT investment products are not registered investment companies under the United States Investment Company Act of 1940 and these securities have not been registered under the United States Securities Act of 1933 (the "Act") and are not offered, sold or distributed in the United States or to U.S. persons (as defined in Regulation S under the Act). Nothing contained herein shall constitute an offer or solicitation of an offer to invest in any such investment products in the United States or to U.S. persons."

The term "United States" in the context of this document refers to the United States of America, its individual states, territories and dominions as well as all regions under US jurisdiction.
Only collective investments approved and registered for public sale in the United Kingdom may be publicly offered and sold in the United Kingdom. LGT investment products are not registered in the United Kingdom. The informa-tion on LGT's Web pages is thus not intended for UK residents.

5. Risk information

A positive performance in the past is no guarantee of a positive performance in the future. The risk of falling prices, foreign currency losses and fluctuating returns due to exchange rates which are unfavorable for investors cannot be excluded. It is possible that investors will not get back the full amount they invested. Commissions and charges levied on the issuance and redemption of units are debited separately to each investor. They are therefore not taken into account in the performance shown here. 

Investors are specifically advised that certain investments are highly volatile. Such investments, such as derivatives, may be subject to significant price fluctuation, which may be equal to or greater than the amount of capital invested. Certain specific investments may not be immediately realizable. It may therefore be difficult for investors to sell an investment, realize a profit, or obtain reliable information as to its value or the degree of risk to which the investment is exposed.

When buying or selling investments involving a contingent liability, not only may you lose the amount invested, but in certain circumstances you may also be required to pay an additional amount.

6. Engagement policy pursuant to Section 185 of the Austrian Stock Exchange Act

Pursuant to subsection 1 of Section 185(1) of the Austrian Stock Exchange Act, asset managers are required to publish an engagement policy, which describes how they integrate shareholder engagement in their investment strategy. This engagement policy must describe how asset managers monitor companies, in which they invest, on relevant matters, including strategy, financial and non‐financial performance, risk, capital structure, social and environmental impact and corporate governance. 

The following must also be published:

  • how dialogs are conducted with these companies; 
  • how voting rights are exercised; 
  • how other shareholders are cooperated with; 
  • how relevant stakeholders are communicated with, and
  • how actual and potential conflicts of interest are managed.

Taking these requirements into account, the LGT Bank AG, Zweigniederlassung Österreich (referred to below as LGT) has established the following engagement policy.

Engagement policy
The engagement policy covers the investment funds managed by LGT and other asset management mandates. The engagement policy covers direct investments made by LGT in shares traded on a regulated market.

In particular, the engagement policy adheres to the following principles, where application of these principles is proportionate to the degree of the active engagement and the fundamental investment decision in accordance with the particular investment objectives and taking into account the efficiency of the expenditure associated with the engagement and the share in the proprietary capital of the companies ('proportionality').

A sound selection and monitoring process forms the basis for investment in joint stock corporations. This and the ongoing monitoring of joint stock corporations is carried out by LGT's Investment Office based on internal and external research. This yields data and information on strategy, financial and non-financial performance, risk, capital resources, corporate governance, as well as social and environmental impacts, which are directly or indirectly incorporated into the selection and monitoring process. Large-cap leading companies with above-average quality characteristics are selected as a matter of principle. Most of the companies are located in Europe and America. Additions from other countries are possible from time to time.

The following also applies:

  • taking proportionality into account, LGT shall conduct any dialogs with the companies LGT is invested in. Examples of how dialog is conducted include personal telephone calls or conference calls, participation in roadshows or via other contact channels to the companies. In particular, dialogs with the companies may also be conducted in the context of the participation in meetings (general shareholders' meetings, in particular); 
  • as portfolio manager, LGT does not exercise any voting rights. At most, these rights may be exercised by the custodians;
  • there is normally no cooperation with other shareholders, as the share in the share capital of the respective joint stock corporations is usually immaterial;
  • the share in the share capital of the respective joint stock corporation is classified as immaterial. Accordingly, there is no communication with other relevant stakeholders of the company, and
  • the engagement policy serves exclusively to safeguard the interests of the shareholders and is consistent with the investment objectives and investment policy of LGT. LGT's internal guidelines ensure conflicts of interest are avoided and that unavoidable conflicts of interest are resolved while safeguarding the client's interests. The guideline is based on LGT's corporate strategy and thus on its business principles. The Code of Conduct for LGT employees was derived from that.

6.1 ESG Engagement

On behalf of selected mandates and fund solutions, we might engage companies on their key risks, challenges and opportunities linked to environmental, social and governance (ESG) topics. We define engagements as meetings with corporate management in which we express our expectations for positive improvements on sustainability issues over time. We might conduct engagements both on our own and through an external engagement service provider which conducts engagement meetings on our behalf.


Legal information - © LGT Bank AG, Zweigniederlassung Österreich - All rights reserved

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