PRODUCT KEY FACTS BOCOM Schroder Growth Mixed Securities Investment Fund

Transcription

1 PRODUCT KEY FACTS BOCOM Schroder Growth Mixed Securities Investment Fund Issuer: Bank of Communications Schroder Fund Management Co., Ltd. July 2016 This is a Mainland fund authorized for public offering in Hong Kong pursuant to Mainland-Hong Kong Mutual Recognition of Funds arrangement. This statement provides you with key information about this product. This statement is a part of the offering document. You should not invest in this product based on this statement alone. Quick facts Fund Manager: Custodian: Bank of Communications Schroder Fund Management Co., Ltd. (the Manager ) Agricultural Bank of China Limited Ongoing charges over a year # 1.76% Hong Kong Representative: Distribution policy: Financial year end of this fund: Minimum investment: Dealing frequency: Base currency: BOCOM Schroder Asset Management (Hong Kong) Co. Ltd (the Hong Kong Representative ) Class H: Distributions will be declared and paid for a maximum of ten times each year at such time at the discretion of the Manager. Distributions may be made out of income and gains and/or paid out of capital or effectively out of capital. Distributions will be paid to Class H unitholders in cash. 31 December Class H - RMB1,000 minimum initial investment, RMB1,000 minimum subsequent investment Daily (each day being a Joint Business Day) RMB # As Class H is newly set-up, the ongoing charge is an estimate only and represents the sum of the estimated ongoing charges chargeable to Class H expressed as a percentage of the estimated average net asset value of such class over a 12-month period. This figure may vary from year to year. The actual figure may be different from the estimated figure. What is this product? BOCOM Schroder Growth Mixed Securities Investment Fund (the Fund ) is an open-ended fund constituted under the laws of the Mainland China and its home regulator is the China Securities Regulatory Commission ( CSRC ). 1

2 Objectives and Investment Strategy Objective BOCOM Schroder Growth Mixed Securities Investment Fund The Fund is a mixed securities investment fund, seeking long-term capital appreciation for fund unitholders, primarily through investing in Mainland listed stocks with good growth prospects selected under a rigorous screening process, under a premise of proper risk control and maintaining liquidity of fund assets. Strategy The Fund s investments in equities, fixed income and other investments will be limited to those securities in the Mainland market only. The investment scope of the Fund is to invest in liquid financial instruments, including stocks listed on the Shanghai Stock Exchange and the Shenzhen Stock Exchange in accordance with Mainland laws, bonds, money market instruments, asset-backed securities and other types of securities as issued by Mainland issuers and permitted by the CSRC or relevant laws and regulations. The Manager may implement appropriate procedures to extend the Fund s scope of investment to include other types of investments from time to time when such investments are permitted for fund investment under relevant laws and regulations or when they are permitted by regulators. The Fund will mainly implement a rigorous quality screening process and valuation assessment in order to select growth stocks that possess comprehensive corporate governance structures, better potentials for growth, good industry prospects and good growth qualities. The Fund s investment portfolio shall consist of: 60%-95% of the Fund s assets in equity securities listed on Shanghai Stock Exchange and the Shenzhen Stock Exchange, among which the Fund may invest in stocks trading on ChiNext and/or the SME board; 5%-40% of the Fund s assets in bonds, money market instruments, asset-backed securities (not more than 20% of the net asset value of the Fund), urban investment bonds, debt securities which are rated BB+ or below by a Mainland credit rating agency or unrated and other types of securities permitted by CSRC for fund investment, among which no less than 5% of the Fund s net asset value shall be retained in cash or government bonds with maturity period of no more than one year. The Fund has no intention to invest 30% of the Fund s NAV or more in bonds which are rated BB+ or below or unrated. The following table summarizes the asset allocation of the Fund: Type of assets Normal Asset Allocation (% of the Fund Assets) Stocks 60%-95% Cash, bonds, money market instruments, asset-backed securities, and other financial instruments as permitted by the CSRC 5%-40% The Fund does not use financial derivative instruments including warrants or engage in stock lending transactions. If there is a change in such intention in the future, applicable regulatory approval from relevant regulatory authorities will be sought and prior notice to investors will be provided. The Fund may engage in repurchase transactions and reverse repurchase transactions. Repurchase or reverse repurchase transactions may be exchange-traded or entered into on the Mainland interbank market. Subject to complying with the minimum investment requirements to meet the Fund s investment objective and strategy and other applicable regulatory requirements, there is no specific limit on the Fund entering into reverse repurchase transactions on the exchange market and interbank market, and the Manager has determined that repurchase transactions that are exchange-traded and to be entered into on the interbank market be kept within an aggregate total limit of 40% of the Fund s net asset value. The Fund s maximum level of leverage shall not exceed 40% of the Fund s net asset value. 2

3 What are the key risks? BOCOM Schroder Growth Mixed Securities Investment Fund Investment involves risks and there is no guarantee of the repayment of principal or payment of dividend or distributions. Further, there is no guarantee that the Fund will be able to achieve its investment objective and there is no assurance that the stated strategies can be successfully implemented. 1. Risks associated with the MRF arrangement Quota restrictions: The Mainland-Hong Kong Mutual Recognition of Funds (MRF) scheme is subject to an overall quota restriction. Subscription of Class H units in the Fund may be suspended at any time if such quota is used up. Failure to meet eligibility requirements: If the Fund ceases to meet any of the eligibility requirements under the MRF, it may not be allowed to accept new subscriptions. In the worst scenario, the SFC may even withdraw its authorization for the Fund to be publicly offered in Hong Kong for breach of eligibility requirements. There is no assurance that the Fund can satisfy these requirements on a continuous basis. Mainland China tax risk: Currently, certain tax concessions and exemptions are available to the Fund and/or its investors under the MRF regime. There is no assurance that such concessions and exemptions or Mainland tax laws and regulations will not change. Any change to the existing concessions and exemptions as well as the relevant laws and regulations may adversely affect the Fund and/or its investors and they may suffer substantial losses as a result. Different market practices: Market practices in the Mainland and Hong Kong may be different. In addition, operational arrangements of the Fund and other public funds offered in Hong Kong may be different in certain ways. For example, subscription or redemption of Class H units of the Fund may only be processed on a day when both Mainland and Hong Kong markets are open or it may have different cut-off times or dealing day arrangements versus other SFC-authorized funds. Investors should ensure that they understand these differences and their implications. 2. Concentration risk / Mainland market risk The Fund invests primarily in securities related to the Mainland market and may be subject to additional concentration risk. Investing in the Mainland market may give rise to different risks including political, policy, tax, economic, foreign exchange, legal, regulatory and liquidity risks. 3. RMB currency and conversion risks RMB is currently not freely convertible and is subject to exchange controls and restrictions. Non-RMB based investors are exposed to foreign exchange risk and there is no guarantee that the value of RMB against the investors base currencies (for example HKD) will not depreciate. Any depreciation of RMB could adversely affect the value of investor s investment in the Fund. Investors may not receive RMB upon redemption of investments and/or dividend payment or such payment may be delayed due to the exchange controls and restrictions applicable to RMB. 4. Mainland equity risks Market risk: The Fund s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, such as changes in investment sentiment, political and economic conditions and issuer-specific factors. Volatility and liquidity risk: High market volatility and potential settlement difficulties in the Mainland equity (including A-shares) markets may also result in significant fluctuations in the prices of the securities traded on such markets and thereby may adversely affect the value of the Fund. Securities markets in Mainland China may be less liquid than other developed markets. The Fund may suffer substantial loss if it is not able to dispose of investments at a time it desires. High valuation risk: Stocks listed on the Mainland stock exchanges may have higher price-earnings ratio. Such high valuation may not be sustainable. Policy risk: Securities exchanges in Mainland typically have the right to suspend or limit trading in any security traded on the relevant exchange. The government or the regulators may also implement policies that may affect the financial markets. All these may have a negative impact on the Fund. 3

4 BOCOM Schroder Growth Mixed Securities Investment Fund Risk associated with small-capitalisation / mid-capitalisation companies: The Fund may invest in companies of smaller or mid-capitalisation. The stock of small-capitalisation/ mid-capitalisation companies may have lower liquidity and their prices are more volatile to adverse economic developments than those of larger capitalisation companies in general. 5. Risks associated with SME board and ChiNext market Differences in regulations: The rules and regulations regarding securities in the ChiNext market are less stringent in terms of profitability and share capital than those in the main board and the SME board. Higher fluctuation on stock prices: Listed companies in the ChiNext market and the SME board usually of emerging nature and have a smaller operating scale. Hence, they are subject to higher fluctuation in stock prices and liquidity and have higher risks and higher turnover ratios than companies listed on the main board. Delisting risk: It may be more common and faster for listed companies on the ChiNext market and the SME board than companies listed on main board to delist. This may have an adverse impact on the Fund if the companies that it invests in are delisted. Over-valuation risk: Stocks listed on the ChiNext market and the SME board may be overvalued and such high valuation may not be sustainable. Stock price may be more susceptible to manipulation due to fewer circulating shares. Investments in the ChiNext market and/or the SME Board may result in significant losses for the Fund and its investors. 6. Mainland debt securities risks Volatility and liquidity risks: The Mainland debt securities markets may be subject to higher volatility and lower liquidity compared to more developed markets. The prices of securities traded in such markets may be subject to fluctuations. Counterparty risk: The Fund is exposed to the credit/default risk of issuers of the debt securities that the Fund may invest in. Interest rate risk: Investment in the Fund is subject to interest rate risk. In general, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise. The Fund is exposed to additional policy risk of potential adjustment by the government to the interbank deposit rate. Downgrading risk: The credit rating of a debt instrument or its issuer may be downgraded subsequent to investment by the Fund. In the event of such downgrading, the value of the Fund may be adversely affected. The Manager may or may not be able to dispose of the debt instruments that are being downgraded. Credit rating agency risk: The credit appraisal system in the Mainland and the rating methodologies employed in the Mainland may be different from those employed in other markets. Credit ratings given by Mainland rating agencies may therefore not be directly comparable with those given by other international rating agencies. Risk associated with urban investment bonds: The Fund may invest in urban investment bonds. Urban investment bonds are issued by local government financing vehicles ( LGFVs ), such bonds are typically not guaranteed by local governments or the central government of the Mainland. In the event that the LGFVs default on payment of principal or interest of the urban investment bonds, the Fund could suffer substantial loss and the net asset value of the Fund could be adversely affected. Risk associated with asset-backed securities: The Fund may invest in asset-backed securities (including asset-backed commercial papers). Asset-backed securities may be highly illiquid and prone to substantial price volatility. These instruments may be subject to greater credit, liquidity and interest rate risk compared to other debt securities. They are often exposed to extension and prepayment risks and risks that the payment obligations relating to the underlying assets are not met, which may adversely impact the returns of the securities. 4

5 BOCOM Schroder Growth Mixed Securities Investment Fund Risk associated with debt securities which are rated BB+ or below by a Mainland credit rating agency or unrated: The Fund may invest in debt securities rated BB+ or below by a Mainland credit rating agency or unrated. Such securities are generally subject to lower liquidity, higher volatility and greater risk of loss of principal and interest than high-rated debt securities. 7. Risks associated with repurchase and reverse repurchase transactions The Manager may enter into repurchase and reverse repurchase transactions for the account of the Fund on the Mainland stock exchanges or in the interbank market. The collateral pledged under the reverse repurchase transactions in the interbank market may not be marked-to-market. In addition, the Fund may suffer substantial loss when engaging in reverse repurchase transactions as there may be delay and difficulties in recovering cash placed out or realizing the collateral, or proceeds from the sale of the collateral may be less than the cash placed with the counterparty due to inadequate valuation of the collateral and market movements upon default of the counterparty. For repurchase transactions, the Fund may suffer substantial loss as there may be delay and difficulties in recovering collateral pledged with the counterparty or the cash originally received may be less than the collateral pledged due to inadequate valuation of the collateral and market movement upon default of the counterparty. 8. Risks relating to payment of distributions out of capital or effectively out of capital Dividends paid out of capital or effectively out of capital amount to a return or withdrawal of part of a Unitholder s original investment or from any capital gains attributable to that original investment. Any distribution involving payment of dividends out of or effectively out of the Fund s capital may result in an immediate reduction of the net asset value per unit. How has the Fund performed? As Class H is newly established, there is insufficient data to provide a useful indication of past performance to investors. Is there any guarantee? This Fund does not have any guarantees. You may not get back the full amount of money you invest. What are the fees and charges? Charges which may be payable by you You may have to pay the following fees when dealing in the Class H units of the Fund. Fee Subscription fee Switching fee^ Redemption fee What you pay Class H - Up to 5% of the subscription amount Class H - Not Applicable Class H % of redemption amount ^ Switching is not currently available for Class H the Manager will announce applicable arrangement and fee when switching is available. 5

6 BOCOM Schroder Growth Mixed Securities Investment Fund Ongoing fees payable by the Fund The following expenses will be paid out of the Fund. They affect you because they reduce the return you get on your investment. Annual rate (as a % of the Fund s net asset value) Management fee The Fund pays a management fee to the Manager Custodian fee The Fund pays a custodian fee to the Custodian Performance fee Administration fee 1.5% 0.25% Nil Nil Please refer to the section of the Prospectus entitled Fund Expenses and Tax for further details, as well as for information on other ongoing expenses that may be borne by the Fund. Other fees You may have to pay other fees when dealing in the units of the Fund. Additional Information You generally buy and redeem units at the Fund s next-determined net asset value after your request is received by the authorized distributor in good order on or before the dealing cut-off time, which is 3:00 p.m. (Hong Kong time) on a Joint Business Day. Certain authorized distributors may impose different earlier dealing deadlines for receiving requests from investors. The net asset value of Class H units of the Fund is calculated on each Mainland Working Day and such other days as may be required by Mainland laws and regulations (including 30 June and 31 December even if these dates are not Mainland Working Days), and the price of Class H units is published on a daily basis on the website of the Hong Kong Representative ( The website has not been reviewed by the SFC. Investors should visit the website of the Hong Kong Representative ( which is available in English and Traditional Chinese for the latest notices relating to the Fund. The website has not been reviewed by the SFC. The compositions of the distributions (i.e. the relative amounts paid from net distributable income and capital) for the last 12 months are available from the Manager or the Hong Kong Representative upon request and also on the Hong Kong Representative s website ( The website has not been reviewed by the SFC. Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. 6

7 產品資料概要交銀施羅德成長混合型證券投資基金 發行人 : 交銀施羅德基金管理有限公司 2016 年 7 月 此乃根據內地香港基金互認安排獲認可於香港公開銷售的內地基金 本概要提供有關本產品的主要資料 本概要是銷售文件的一部分 請勿單憑本概要作投資決定 資料便覽 基金管理人 : 交銀施羅德基金管理有限公司 ( 管理人 ) 託管人 : # 全年經常性開支比率 中國農業銀行股份有限公司 1.76% 香港代表 : 交銀施羅德資產管理 ( 香港 ) 有限公司 ( 香港代表 ) 分派政策 : 本基金財政年度終結日 : 最低投資額 : H 類 : 管理人可於各財政年度在其酌情決定的時間宣派及支付最多 10 次分派 分派可從收入及收益中分派或可從資本或實際從資本中支付, 以現金方式分派至 H 類的持有人 12 月 31 日 H 類 : 最低初次投資額為人民幣 1,000 元, 其後最低投資額為人民幣 1,000 元 交易頻率 : 每日 ( 於共同營業日的各日 ) 基礎貨幣 : 人民幣 # 由於 H 類是新近設立, 經常性開支數字僅為估算, 而且代表可向 H 類單位類別收取的費用, 以於十二個月的期間內平均估算資產淨值的百分比呈列 此數字每年均可能有所變動 實際數字可能有別於估計數字 本基金是什麼產品? 交銀施羅德成長混合型證券投資基金 ( 本基金 ) 是根據中國內地法律組成的開放式基金, 而其所屬地區監管機構為中國證券監督管理委員會 ( 中國證監會 ) 1

8 交銀施羅德成長混合型證券投資基金 目標及投資策略 目標 本基金屬於混合型證券投資基金, 主要通過投資於經過嚴格的品質篩選且具有良好成長性的內地上市公司股票, 在適度控制風險並保持基金資產良好流動性的前提下, 為基金份額持有人謀求長期的資本增值 策略 本基金的股票 固定收入及其他金融工具投資僅局限於內地市場 本基金的投資範圍為具有良好流動性的金融工具, 包括上海交易所及深圳交易所依法發行上市的股票 債券 貨幣市場工具 資產支持證券及法律法規或中國證監會允許基金投資的其他金融工具 基金管理人在履行適當程序後, 在法律法規或監管機構允許基金投資其他品種下可隨時將其納入投資範圍內 本基金的投資對象重點為經過嚴格品質篩選程序和價值評估, 選出具有完善的治理結構 較大的發展潛力 良好的行業前景和優良成長品質的成長型股票 本基金的投資組合包括 : 上海交易所及深圳交易所依法發行上市的股票資產佔基金資產的 60%-95%, 當中本基金或會投資於國內創業板及 / 或中小企業板上市的股票 ; 債券 貨幣市場工具 資產支持證券 ( 不多於基金資產淨值的 20%) 城投債 內地評級機構評定為 BB+ 或以下或並無評級的債務證券以及中國證監會允許基金投資的其他證券品種資產佔基金資產的 5%-40%, 當中基金保留的現金以及到期日於一年以內政府債券的比例合計不低於基金資產淨值的 5% 本基金無意投資基金資產淨值的 30% 或以上於被評級為 BB+ 或以下或未評級的債券 以下列表總結本基金的資產分佈比例 : 資產種類 一般資產分佈 ( 佔基金資產的百分比 ) 股票 60%-95% 現金 債券 貨幣市場工具 資產支持證券以及中國證監會允許基金投資的其他證券品種 5%-40% 本基金並無使用金融衍生工具, 包括認股證或進行股票借出交易 如果該意向於將來有所更改, 基金將會事前得到有關監管機構的有關批准及事前向投資者給予通知 本基金可進行回購交易或反向回購交易 該等交易可於交易所買賣或可於內地的銀行同業市場進行 在遵守最低投資規定以符合本基金的投資目標及策略以及其他適用監管規定的規限下, 本基金於交易所市場及銀行同業市場進行反向回購交易時並無受到任何限制, 而管理人已釐定於交易所買賣及於銀行同業市場進行的回購交易合共總上限為本基金資產淨值的 40% 本基金的最高槓桿水平不得超過本基金資產淨值的 40% 2

9 交銀施羅德成長混合型證券投資基金 本基金有哪些主要風險? 投資涉及風險, 現時概無保證會歸還本金或發放紅利 此外, 本基金不保證會達成其投資目標, 也不保證可以成功地實施已定的策略 1. 基金互認安排的相關風險 額度限制 : 內地香港基金互認 ( 基金互認 ) 計劃受到整體額度限制 倘額度已用盡, 則本基金內的 H 類單位可能隨時終止接受申購 未能符合資格規定 : 倘本基金不再符合基金互認下的任何一項資格規定, 則可能不再獲准接受新申購 於最壞的情況下, 證監會甚至可能以違反資格規定而撤回其對本基金於香港公開銷售的認可 現時無法保證本基金能一直符合該等規定 中國內地稅務風險 : 目前, 在基金互認的制度下, 基金和 / 或其投資者享有某些稅務優惠和豁免 概不能保證該等稅務優惠和豁免或內地稅務法律及法規不會有任何變動 任何現有的優惠和豁免或相關法律及法規的變動均可能對本基金及 / 或其投資者造成不利影響而使其因此蒙受重大損失 不同市場慣例 : 內地與香港的市場慣例可能不同 此外, 本基金與香港公開銷售的其他基金的運作安排在若干方面可能有所分別 舉例而言,H 類單位的申購或贖回僅可於內地及香港市場均開放的日子辦理 除此項買賣日子安排外, 本基金的交易截止時間亦可能有別於其他證監會認可基金 投資者應確保彼等了解該等分別以及其影響 2. 集中投資風險 / 內地市場風險 本基金主要投資於與內地市場相關的證券, 故可能面對額外集中投資風險 投資於內地市場可能產生不同的風險, 包括政治 政策 稅務 經濟 外匯 法律 監管及流動性風險 3. 人民幣貨幣及貨幣兌換風險 人民幣現時是不可自由兌換, 並受到外匯管制及限制 並非以人民幣為基礎的投資者會面對外匯風險, 現時概無保證人民幣兌換為投資者的基礎貨幣 ( 例如港元 ) 不會貶值 任何人民幣貶值均可能會對投資者於本基金投資的價值造成不利影響 由於適用於人民幣的外匯管制及限制, 投資者於贖回投資及 / 或收取分派時可能不會收到人民幣, 或該支付可能因而延遲 4. 內地股票風險 市場風險 : 本基金於股票證券的投資面對一般市場風險, 其價值可能因多項因素, 例如在投資氣氛 政治及經濟狀況以及有關發行人特定因素的變動而出現波動 波動性及流動性風險 : 內地股票市場 ( 包括 A 股 ) 的高度市場波動性及潛在結算困難亦可能導致於該等市場上所買賣證券的價格出現大幅波動, 繼而可能對本基金的價值造成不利影響 中國內地證券市場的流動性可能不如其他發展成熟的市場 如本基金未能按意願出售投資, 則其可能蒙受重大損失 高估值風險 : 內地證券交易所上市的股票可能具有較高市盈率 該等高估值未必能夠持續 政策風險 : 內地的證券交易所一般有權暫停或限制於相關交易所買賣的任何證券交易 政府或監管機構亦可能實施可影響金融市場的政策 所有該等情況均會對本基金造成負面影響 3

10 交銀施羅德成長混合型證券投資基金 小型市值 / 中型市值公司的相關風險 : 本基金可能投資於較小型或中型市值的公司 一般而言, 相對於較大市值的公司而言, 較小市值 / 中型市值公司的股票的流動性可能較低, 且其價格在面對不利的經濟發展時會更為波動 5. 中小企業板和創業板市場風險 規則上的差別 : 有關在創業板市場上巿的證券在盈利能力及股本方面的規則及規例並不如主板及中小企業板市場的規則及規例嚴格 股價的高波動性 : 在中小企業板和創業板市場上市的公司通常為新興性質而營運規模較小 因此, 當其業績有改變時股價表現及流動性亦隨之受到較大的波動, 亦較在主板上市的公司的風險及成交量比率為高 除牌風險 : 與在主板市場上市的公司相比, 在中小企業板和創業板市場上市的公司除牌情況或會較為普遍及更快 倘若基金投資的公司被除牌, 這可能對基金構成不利影響 過高估值風險 : 在中小企業板和創業板上市的股票可能被估值過高而該高估值未必能夠持續 因市場流通的股份較少, 故股價或會相對較易被操縱 投資於中小企業板和創業板上市的股票可能導致本基金及投資者蒙受重大損失 6. 內地債務證券風險 波動性及流動性風險 : 與發展更為成熟的市場相比, 內地債務證券市場或會面對較大的波動性及較低的流動性 於該等市場買賣證券的價格或會出現波動 對手方風險 : 本基金面對其可能投資的債務證券的發行人信貸 / 違約風險 利率風險 : 本基金的投資面對利率風險 一般而言, 債務證券的價格會於利率下跌時上升, 而於利率上升時下跌 本基金還面對政府可能調整同業存款利率而帶來的額外政策風險 評級下調風險 : 債務工具或其發行人的信貸評級或會於本基金作出投資後被下調 如有關評級被下調, 則本基金的價值或會受到不利影響 管理人未必能夠出售評級被下調的債務工具 信貸評級機構風險 : 內地的信貸評級制度及內地所採用的評級方法或有別於其他市場所採用者 因此, 內地評級機構所給予的信貸評級或不能與其他國際評級機構所給予的評級有直接可比性 城投債的相關風險 : 本基金可投資於城投債 城投債由地方政府融資平台 ( 地方政府融資平台 ) 發行, 該等債券通常不受內地的地方政府或中央政府擔保 若地方政府融資平台欠繳城投債的本金或利息, 則本基金可能蒙受重大損失及本基金的資產淨值會受到不利影響 資產支持證券的相關風險 : 本基金可投資於資產支持證券 ( 包括資產支持商業票據 ) 資產支持證券的流動性可能極低且價格容易大幅波動 該等工具相較其他債務證券可能面對較大的信貸 流動性及利率風險, 且經常面對可能對證券回報造成不利影響的展期及預付風險以及無法履行與相關資產有關支付責任的風險 4

11 交銀施羅德成長混合型證券投資基金 內地評級機構評定為 BB+ 或以下或並無評級的債務證券相關的風險 : 本基金可投資於內地評級機構評定為 BB+ 或以下或並無評級的債務證券 相較評級較高的債務證券, 該等證券的流動性通常較低 波動性較高且損失本金及利息的風險較大 7. 回購及反向回購的相關風險 管理人或會於內地證券交易所或銀行同業市場為本基金進行回購及反向回購交易 於銀行同業市場的反向回購交易的抵押品可能並非按市價計值 此外, 在進行反向回購交易時遇到對手方違約情況下, 本基金可能蒙受由於收回已發放的現金或變現抵押品時可能有所延誤及遇上困難, 或由於抵押品估值不當及市場變動, 出售抵押品的所得款項可能少於向對手方發放的現金的重大損失 就回購交易而言, 遇到對手方違約情況下, 本基金可能蒙受由於收回已質押予對手方的抵押品時可能有所延誤及遇上困難, 或由於抵押品估值不足及市場變動, 原先收取的現金可能少於已質押的抵押品價值的重大損失 8. 以資本支付或實際以資本支付分派的相關風險 從資本或實際從資本中支付分派, 構成退回或提取單位持有人的部分原本投資額或該原本投資額應佔的任何資本收益 涉及從或實際從本基金資本中支付分派的任何可能導致每單位資產淨值即時減少 本基金的表現如何? 由於 H 類是新近成立, 目前並無足夠數據向投資者提供過往表現的有用指標 本基金有否提供任何保證? 本基金並不提供任何保證 閣下未必能全數收回投資本金 投資本基金涉及哪些費用及收費? 閣下或須繳付的費用 在買賣本基金 H 類單位時, 閣下或需繳付以下費用 費用 閣下需繳付的費用 申購費用 H 類 最多為申購金額的 5% 轉換費用 * H 類 不適用 贖回費用 H 類 贖回金額的 0.13% * H 類現時未能進行轉換 管理人將於可進行轉換時公佈適用的安排及費用 5

12 交銀施羅德成長混合型證券投資基金 本基金持續繳付的費用 以下費用將從本基金撥付, 閣下會受到影響, 因為閣下的投資回報會因而減少 每年收費率 ( 佔本基金資產淨值的百分比 ) 管理費本基金向管理人繳付管理費託管費本基金向託管人繳付託管費業績表現費行政費 1.5% 0.25% 無無 請參閱招募說明書 基金的費用與稅收 一節以了解進一步詳情, 以及有關本基金或須承擔的其他經常性開支的資料 其他費用 在買賣本基金單位時, 閣下或須支付其他費用 其他資料 當閣下的申購和贖回申請被認可分銷商在截止交易時間, 即共同營業日的下午 3 時正 ( 香港時間 ) 或之前妥為接收後, 閣下的申請一般可以本基金下一個資產淨值定價 若干認可分銷商可對接收投資者的申請設定不同的較早截止交易時間 本基金 H 類單位的資產淨值於每個內地工作日及其他內地法律法規要求的日子 ( 包括每年的 6 月 30 日及 12 月 31 日, 不論該日是否內地工作日 ) 計算並每日於香港代表的網站 ( 刊登 H 類單位的價格 該網站並未經證監會審閱 投資者如需獲取有關本基金最新的英文及繁體中文通告可瀏覽香港代表的網站 ( 該網站並未經證監會審閱 最近 12 個月的分派組成 ( 即從可分派收入淨額及資本中支付的相對金額 ) 可向管理人或香港代表索取 該資料亦載於香港代表的網站 ( 該網站並未經證監會審閱 重要提示 閣下如有疑問, 應諮詢專業意見 證監會對本概要的內容並不承擔任何責任, 對其準確性或完整性亦不作出任何陳述 6