HSBC Global Investment Funds - Euroland Equity

Transcription

1 HSBC Global Investment Funds - Euroland Equity H Share Class ADHUSD 31 Jan 2019 ADHUSD 31 Jan 2019 Risk Disclosure The Fund invests mainly in Euroland equities. Because the Fund s base currency, investments and classes may be denominated in different currencies, investors may be affected adversely by exchange controls and exchange rate fluctuations. There is no guarantee that the currency hedging strategy applied to the relevant classes will achieve its desired result. The Fund may invest in financial derivative instruments for investment purpose which may lead to higher volatility to its net asset value. The Fund s investments may involve substantial credit, currency, volatility, liquidity, interest rate, tax and political risks. Investors may suffer substantial loss of their investments in the Fund. Unit trusts are NOT equivalent to time deposits. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund for details. Fund Objective and Strategy Investment Objective The Fund seeks long-term total return (meaning capital growth and income) by investing primarily in a well-diversified portfolio of shares (or securities that are similar to shares). These shares are issued by companies that have a registered office and official stock-market listing in a member country of the European Monetary Union (EMU). Investment Strategy The EMU initially includes 12 countries, but the Fund will consider others should they join the EMU. The Fund can also invest up to 10% of its assets in Real Estate Investment Trusts (shares in property companies) and up to 10% of its assets in collective investment schemes including other sub-funds of HSBC Global Investment Funds. Although there are no restrictions on the market capitalisation of the companies the Fund invests in, larger, established companies are preferred. See the Prospectus for a description of derivative usage. Share Class Details Performance (%) YTD 1M 3M 1Y 3Y¹ 5Y¹ UCITS V Compliant Yes Distribution Type Distributing ADHUSD Distribution Frequency Dealing Frequency Annually Daily Calendar Year Min. Initial Investment USD 1, Performance (%)² Max. Initial Charge 4.50% ADHUSD Management Fee Base Currency 1.50% USD 3-Year Risk Characteristics Fund Domicile Luxembourg ADHUSD Measures Number of Holdings ISIN LU Volatility 12.84% ex Cash Inception Date 21 Apr 2015 Information Avg Market NAV per Share USD Ratio Cap (EUR 33,848 Fund Size EUR 579,594,750 Beta - mil) Bloomberg Ticker HSBADHU LX Past performance is not an indicator of future returns. The figures are calculated in the share class base currency, NAV to NAV basis with dividend reinvested, net of fees. If investment performance is not denominated in HKD or USD, HKD or USD based investors are exposed to exchange rate fluctuations. Source: HSBC Global Asset Management, data as at 31 January 2019 Manager Frederic Leguay Jeanne Follet 1 Result is cumulative when calculation period is over one year. 2 The calendar year return of the first year is calculated between share class inception date and calendar year end of first year if the share class has less than 5-year history. Fund change that may have material impact on performance: 21 May 2007 investment objective changed.16 Nov Change in the manner of charging sales charge / switching charge. To download the offering documents from ts/english/amhk_hgif.pdf

2 Monthly Performance Commentary Economic Environment Equity markets have rebounded in January. The MSCI World Index gained by 7.4% in EUR. European equities rallied by 6.2% in EUR. 88% of MSCI World Index constituents gained over January in sharp contrast to December, when 90% lost ground. It is 20 years since we have seen such a dramatic turnaround in market sentiment. US economic indicators were generally satisfactory, with inflation running at 1.9%, suggesting consumption will be sustained over coming months. The US Federal Reserve (Fed) called a temporary halt to interest rate increases, given the worse-than-expected global economic indicators. In other developments, US/China negotiations are on track to prise open the Chinese market to US companies, while President Trump has struck a deal to put the budget block on hold, at least for now. China has announced measures to revive its economy, with an injection of fiscal largesse which should keep consumption ticking over. In Europe, figures continue to disappoint, with manufacturing and services PMIs still coming above 50 but losing ground month by month. In the UK, the Brexit endgame is still shrouded in uncertainty after Parliament refused to back the deal negotiated by Theresa May and forced the Government to reopen talks with the EU. Growth, momentum and scale (small versus large caps) strategies outperformed other types of strategies and stocks, particularly low volatility stocks. In commodities, the London Metal Exchange composite index is up by 5.2%. The prices of the major commodities are rising, particularly nickel and zinc, up 16.5% and 10.8%, respectively. Oil bottomed out and bounced back strongly. Brent rose 15% to USD 61 per barrel at end-january. Market Review The MSCI Europe Index gained 6.2% in EUR terms, compared to 6.3% for the MSCI EMU Index. Geographically, Italy, Austria and Belgium outperformed European markets. Underperformers were Denmark, Sweden and Switzerland. The sector breakdown is a pretty straight readacross of market sentiment, pro-cyclical and less risk averse. Such sentiment is being encouraged by interest rate factors. Accommodative noises from central banks and low inflation figures dragged 10-year yields down, the Bund to 0.15% from last month's 0.24% and the US T- bond to 2.64% from 2.69% in December. In this context, consumer durable stocks ran out ahead, closely followed by technology, basic industries and, more surprisingly, utilities. Laggards included consumer staples, healthcare and telecommunication services which were hit by poor results from Vodafone and a steep dive by Drillisch. The annual results season got under way with a mixed bag of news. We had warnings from Apple, Société Générale, Continental, Henkel and Ingenico. Investors were quick to mark down all these stocks. Conversely, technology (STM, Ericsson), luxury goods (LVMH) and retailers (Casino, Carrefour) were boosted after reporting good numbers. Overall, earnings revisions across Europe remained on a downward trend in January. The consensus cut 1% from its profit estimates for 2018 and 2% from its 2019 and 2020 forecasts. Earnings are nevertheless still projected to grow by 7.7% from 2018 to Nearly 30% of this growth is expected to come from consumer sectors (staples and durables), with finance contributing 25% and industrials 15%. Earnings growth projections are, for now, positive in all sectors. Notable performances included Sartorius (healthcare) on the back of strong results and British American Tobacco, following a favourable recommendation. In luxury goods, LVMH, Ferrari and Moncler notched up sharp gains. Conversely, Royal Mail dropped back on a decline in mail volumes and Wirecard plunged amid rumours of fraud. Zalando was also down on negative analyst ratings. Finally, Scor fell as Covea dropped plans to buy the French reinsurer. Fund Performance The fund gained over the month but underperformed its benchmark index. Sector allocation made a negative contribution. The market rebound took place against a backdrop of falling long yields and downgrades to earnings forecasts, particularly in cyclical sectors, ahead of Q4 results. Our overweight to telecommunications stocks and our underweights to semis, luxury goods and real estate worked against us. A hit that was only partly offset by the positive impact of our underexposure to cosmetics and overexposure to auto, food retailers and transport. Stock-picking had a substantial positive impact last month. Our holdings in basic industrials (DSM, HeidelbergCement), telecommunications (KPN and no French operators), auto (Peugeot), food retailers (Casino) and oil (OMV) all helped returns. In contrast, the positions in capital goods (Alstom and zero exposure to aerospace), cosmetics (Henkel), business services (Elis), banking (Societe Generale) and utilities (Veolia) held us back versus the benchmark. Other strong contributors to performance included Carrefour, Cap Gemini, Faurecia, Arkema, Prysmian and PostNL. There was no significant changes to the strategy and tactics of the portfolio during the month. The portfolio remains overweight financials, healthcare and the multifarious industrials sector. We are underweight consumer stocks, both staples and discretionary, tech and to a lesser extent, basic industries. Outlook Despite a clear slowdown, we believe that global growth should remain robust in The consensus forecast has it at +2.9%, versus +3.2% in Chinese growth could be 6.2% (against 6.6%), Euro zone growth just 1.5% (against 1.9%) and US growth 2.5% (against 2.9% in 2018). Market corrections in Q4 have eased valuation multiples. P/E for European stocks fell from 13.4 times at the end of September 2018 (17.1 in the US) to 12.6 at the end of January 2019 (16.0 in the US). The earnings cycle may be slowing but it remains positive and the risk of a big rise in interest rates has been taken off the table. In this environment, European equities remain attractive in our view. The big risks remain unchanged, with the path to a normalised monetary policy either side of the Atlantic, greater volatility in most asset classes, political uncertainty stoked by the US/China trade war, European elections amid the threat of right-wing populism and the final shape of Brexit in the UK.

3 Sector Allocation (%) Geographical Allocation (%) Financials Industrials Health Care Consumer Discretionary Communication Services Materials Consumer Staples Energy Utilities Information Technology Real Estate Cash & Others France Germany Netherlands Spain Italy Austria Luxembourg United Kingdom Other Locations Cash & Others ADHUSD Reference Benchmark ADHUSD Reference Benchmark The benchmark data is that of the reference benchmark of the fund, MSCI EMU Net, as this data is calculated at fund level rather than share class level. Top 10 Holdings (%) Location Sector Weight (%) ALLIANZ SANOFI EUR2 TOTAL IBERDROLA BANCO SANTANDER SA BAYER OMV DEUTSCHE TELEKOM ING GROEP NV Germany Financials 4.01 France Health Care 3.18 France Energy 2.96 Spain Utilities 2.94 Spain Financials 2.70 Germany Health Care 2.66 Austria Energy 2.66 Germany Communication Services 2.64 Netherlands Financials 2.59 AXA France Financials 2.52 Source: HSBC Global Asset Management, data as at 31 January 2019

4 Important Information This document is prepared for general information purposes only and does not have any regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive it. Any views and opinions expressed are subject to change without notice. This document does not constitute an offering document and should not be construed as a recommendation, an offer to sell or the solicitation of an offer to purchase or subscribe to any investment. Any forecast, projection or target where provided is indicative only and is not guaranteed in any way. HSBC Global Asset Management (Hong Kong) Limited ( AMHK ) accepts no liability for any failure to meet such forecast, projection or target. AMHK has based this document on information obtained from sources it reasonably believes to be reliable. However, AMHK does not warrant, guarantee or represent, expressly or by implication, the accuracy, validity or completeness of such information. Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. This document has not been reviewed by the Securities and Futures Commission. Copyright HSBC Global Asset Management (Hong Kong) Limited All rights reserved. This document is issued by HSBC Global Asset Management (Hong Kong) Limited.

5 HSBC Global Investment Funds - Euroland Equity Supplement Information Sheet 31 Jan 2019 Share Class Base Currency Distribution Frequency Dividend ex-date Dividend Amount Annualised Yield (Distribution is not guaranteed and may be paid out of capital) ADHUSD USD Annually 11 Jul % AD EUR Annually 11 Jul % The above table cites the last dividend paid within the last 12 months only. Dividend is not guaranteed and may be paid out of capital, which will result in capital erosion and reduction in net asset value. A positive distribution yield does not imply a positive return. Past payout yields and payments do not represent future payout yields and payments. Historical payments may be comprised of both distributed income and capital. The calculation method of annualised yield: (dividend value / NAV per share or unit as of ex-dividend date) x n, n depends on the distributing frequency. Annually distribution is 1; semi-annually distribution is 2; quarterly distribution is 4; monthly distribution is 12. The annualised dividend yield is calculated based on the dividend distribution on the relevant date with dividend reinvested, and may be higher or lower than the actual annual dividend yield.

6 滙豐環球投資基金 - 歐元區股票 H 股份類別 ADHUSD 2019 年 1 月 31 日 ADHUSD 31/01/2019 風險披露 本基金主要投資於歐元區股票 由於本基金的基本貨幣 投資及份額類別可按不同的貨幣計值, 故此, 外匯管制及匯率波動可能對投資者構成不利影響 並不保證有關份額類別的貨幣對沖策略可達致其預期效果 本基金可投資於金融衍生工具作投資用途, 可能使本基金的資產淨值較波動 本基金之投資可能涉及重大的信貸 貨幣 波動性 流動性 利率 稅務及政治風險 投資者投資於本基金可能蒙受重大損失 基金產品並不等同於定期存款 投資者不應僅就此文件提供之資料作出投資決定, 而應細閱本基金之銷售文件 基金投資目標及策略投資目標本基金透過主要投資多元化的股票 ( 或類似於股票的證券 ) 組合, 尋求長期總回報 ( 指資本增長及收益 ) 該等股票由在歐洲貨幣聯盟成員國設有註冊辦事處及正式掛牌上市的公司發行 投資策略歐洲貨幣聯盟初步包括 12 個國家, 但若有其他國家加入, 本基金亦會將其納入考慮 本基金亦可將其最多 10% 的資產投資於房地產投資信託基金 ( 房地產公司股票 ), 及最多 10% 的資產投資於集體投資計劃, 包括滙豐環球投資基金的其他附屬基金 儘管本基金投資的公司並無市值限制, 但偏好較大型的成熟公司 請參閱基金說明書, 了解關於衍生工具使用的說明 股份類別詳情 基金表現 (%) 年初 UCITS V 合規是 1 個月 3 個月 1 年 3 年 ¹ 5 年 ¹ 至今派息類型派息 ADHUSD 派息頻率交易頻率 每年每日 年度回報表現 (%)² 最低初始認購額美元 1,000 首次認購費最高達 4.50% ADHUSD 管理費基本貨幣 1.50% 美元 3 年風險衡量投資組合特點基金註冊地盧森堡 ADHUSD 指標持倉數量 ( 不包括現 ISIN 代號 LU 波幅 12.84% 金 ) 股份類別成立日期 2015 年 4 月 21 日資訊比率 - 平均市值 ( 歐每股資產淨值美元 ,848 貝他值 - 元百萬 ) 基金規模歐元 579,594,750 彭博代號 HSBADHU LX 過去的業績並不代表將來的表現 表現以股份類別基本貨幣計算, 資產淨值對資產淨值, 將 Frederic Leguay 基金經理股息再作投資, 並已扣除費用 如投資業績非以港元或美元計算, 以港元或美元作投資的投 Jeanne Follet 資者須承受匯率波動的風險 資料來源 : 滙豐環球投資管理, 數據截至 2019 年 1 月 31 日 1 當計算期超過一年, 業績為累積表現 2 如股份類別成立少於五年, 其首年年度表現為成立日至年底 對本基金表現可能有重大影響的變動 :2017 年 5 月 21 日 - 更改投資目標 2018 年 11 月 16 日 - 變更收取銷售費 / 轉換費用的方式 從此處下載銷售文件 ts/english/amhk_hgif.pdf

7 行業分佈 (%) 地區分佈 (%) 金融 工業 健康護理 可選消費品 通信服務 物料 消費必需品 能源 公用事業 資訊科技 房地產 現金及其他 ADHUSD 參考基準 法國德國荷蘭 西班牙 意大利 奧地利 盧森堡 英國 其他地區 現金及其他 ADHUSD 參考基準 十大持倉 (%) 地區 股票行業 比重 (%) ALLIANZ 德國 金融 4.01 SANOFI EUR2 法國 健康護理 3.18 TOTAL IBERDROLA BANCO SANTANDER SA BAYER OMV DEUTSCHE TELEKOM ING GROEP NV AXA 資料來源 : 滙豐環球投資管理, 數據截至 2019 年 1 月 31 日 法國能源 2.96 西班牙 公用事業 2.94 西班牙 金融 2.70 德國 健康護理 2.66 奧地利 能源 2.66 德國 通信服務 2.64 荷蘭 金融 2.59 法國 金融 2.52

8 重要資訊本文件只提供一般性資料, 並不針對任何可能收到本文件的人士的具體投資目標 財務狀況和特別需求 在此表達之意見可因應情況修改而不作另行通知 本文件並非銷售文件, 且不構成建議 要約出售或招攬購買或認購任何投資 本文件所載任何預測 預計或目標僅供説明用途, 且並非任何形式的保證 滙豐環球投資管理 ( 香港 ) 有限公司 ( 滙豐環球投資管理 ) 就預測 預計或目標未能達成概不承擔任何責任 本文件內的資料乃取自滙豐環球投資管理合理地相信可靠的來源 然而, 無論明示或暗示, 滙豐環球投資管理不保證 擔保或代表本文件內該等資料的準確性 有效性或完整性 投資附帶風險, 過去的業績並不代表將來的表現 請參閱銷售文件以便獲取其它資料, 包括風險因素 此文件並未經證券及期貨事務監察委員會批閱 版權 HSBC Global Asset Management (Hong Kong) Limited ( 滙豐環球投資管理 ( 香港 ) 有限公司 )2019 版權所有 本文件由 HSBC Global Asset Management (Hong Kong) Limited ( 滙豐環球投資管理 ( 香港 ) 有限公司 ) 刊發

9 滙豐環球投資基金 - 歐元區股票 補充資料 2019 年 1 月 31 日 股份類別 基本貨幣 派息頻率除息日每股股息 年化股息率 ( 派息不獲保證及可從股本中分派 ) ADHUSD 美元每年 2018 年 7 月 11 日 % AD 歐元每年 2018 年 7 月 11 日 % 以上表格只提供過去 12 個月內最近的股息資料 派息不獲保證及可從股本中分派, 導致資本侵蝕以及資產淨值的減少 正股息派發不代表正回報 過去的支付收益率和付款不代表未來的支付收益率和付款 歷史付款可以包括分配的收入和資本 年化股息率的計算方法 :( 股息 除息日的基金每股淨值價格 )x n n 視乎派息頻率 每年派息為 1; 每半年派息為 2; 每季派息為 4; 每月派息為 12 年化股息率乃基於在有關日期的股息並將股息再作投資計算, 可能高於或低過實際全年派息率

10 PRODUCT KEY FACTS 產品資料概要 HSBC Global Investment Funds Euroland Equity 滙豐環球投資基金 歐元區股票 March 年 3 月 This statement provides you with key information about the HSBC Global Investment Funds Euroland Equity 本概要提供有關滙豐環球投資基金 - 歐元區股票的重要資料 This statement is part of the offering document 本概要是銷售文件的一部分 You should not invest in this product based on this statement alone 投資者切勿單憑本概要作投資決定 Quick facts 基本資料 Fund manager 基金經理 HSBC Investment Funds (Luxembourg) S.A. Investment adviser 投資顧問 HSBC Global Asset Management (France) (Internal delegation, France / 內部委託, 法國 ) Custodian 保管人 HSBC France, Luxembourg Branch Ongoing charges over a year Class ACUSD / ACUSD 類 1.85%^ 全年經常性開支比率 Class ACHUSD / ACHUSD 類 1.86%^ Class AD / AD 類 1.85%^ Class ADHUSD / ADHUSD 類 1.89%^ Dealing frequency 進行交易 Daily on every dealing day / 每一個交易日 Base currency 基本貨幣 EUR / 歐元 Dividend policy 股息政策 Class AC/ ACHUSD - No dividends will be declared or paid; Class AD / ADHUSD Declared annually on a discretionary basis, and if declared, dividends will be paid annually/ ACUSD 類 / ACHUSD 類 - 將不宣佈或派發股息 ; AD / ADHUSD 類 按酌情基準每年宣佈, 如獲宣佈, 將會每年派發股息 Financial year end 財政年度終結日 31 March / 3 月 31 日 Minimum investment (initial and subsequent) Class A - US$1,000 (Price of shares are quoted in EUR) 最低認購額 ( 首次及其後 ) A 類 - 1,000 美元 ( 股份價格以歐元報價 ) ^ This figure is an annualized figure based on the expenses for the interim period ended 30 September This figure may vary from year to year. 此數字乃根據截至 2017 年 9 月 30 日止中期開支計算的年率化數字 此數字每年均可能有所變動 What is this product? 本基金是甚麼產品? This is a sub-fund (the Fund ) of an umbrella fund constituted in the form of a mutual fund. It is domiciled in Luxembourg and its home regulator is Commission de Surveillance du Secteur Financier. 本附屬基金 ( 基金 ) 所屬的傘子基金以互惠基金形式組成 本基金在盧森堡註冊成立, 在當地由 Commission de Surveillance du Secteur Financier 監管

11 Objectives and Investment Strategy 目標及投資策略 Investment Objectives and Strategy 投資目標及策略 : The Fund aims to provide long term total return by investing in a portfolio of Eurozone equities. 本基金旨在透過投資歐元區股票組合, 提供長期總回報 The Fund invests in normal market conditions a minimum of 90% of its net assets in equities and equity equivalent securities of companies which are domiciled in, based in, carry out the larger part of their business activities in, or are listed on a Regulated Market in, any European Monetary Union ("EMU") member country. The Fund may also invest in eligible closed-ended Real Estate Investment Trusts ("REITs"). 本基金於正常市況下將其至少 90% 的淨資產投資於在任何一個歐洲貨幣聯盟成員國 ( 歐元聯盟 ) 註冊 位於該處 在該處進行大部分商業活動或在任何歐元聯盟受監管市場上市的的公司的股票及等同股票的證券 本基金亦可投資於合資格封閉式房地產投資信託基金 ( REITs ) The Fund normally invests across a range of market capitalisations without any capitalisation restriction. 本基金通常投資於不同市值的公司, 沒有任何市值限制 The Fund will not invest more than 10% of its net assets in REITs. 本基金不會將其淨資產多於 10% 投資於 REITs The Fund may invest up to 10% of its net assets in units or shares of UCITS and/or other Eligible UCIs (including other sub-funds of HSBC Global Investment Funds). 本基金可將其最多 10% 的淨資產投資於 UCITS 及 / 或其他合資格 UCIs( 包括滙豐環球投資基金的其他附屬基金 ) 的單位或股份 The Fund may use financial derivative instruments for hedging and cash flow management (for example, Equitisation). However, the Fund will not use financial derivative instruments extensively for investment purposes. The financial derivative instruments the Fund is permitted to use include, but are not limited to, futures and foreign exchange forwards (including non-deliverable forwards). Financial derivative instruments may also be embedded in other instruments in which the Fund may invest. 本基金可使用金融衍生工具作對沖及現金流管理 ( 例如股權化 ) 用途 然而, 本基金不會廣泛使用金融衍生工具作投資用途 本基金獲准使用的金融衍生工具包括但不限於期貨及外匯遠期 ( 包括非可交付遠期 ) 金融衍生工具亦可嵌入於本基金可投資的其他工具 What are the Key Risks? 本基金有哪些主要風險? Investments involve risks. Please refer to the offering document for details including risk factors. 投資附帶風險 請參閱銷售文件以便獲取其他資料, 包括風險因素 Investment risk 投資風險 The Fund is an investment fund. There is no guarantee of the repayment of principal. 本基金為投資基金, 並不保證償付投資本金 The Fund s investment portfolio may fall in value due to any of the key risk factors below and therefore your investment in the Fund may suffer losses. 本基金的投資組合價值可能因下列任何主要風險因素而下跌, 而閣下在本基金的投資亦可能蒙受虧損 Equity risk 股票風險 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. 本基金投資於股票證券, 須承受一般市場風險, 其價值可能因受到不同因素 ( 例如投資氣氛 政治及經濟狀況之改變及發行人相關風險因素 ) 的影響而波動 Concentration risk 集中性風險 The Fund s investments are concentrated in EMU. The value of the Fund may be more volatile than that of a fund having a more diverse portfolio of investments. 本基金集中投資於歐元聯盟 本基金的價值可能比具有更廣泛投資組合的基金更反覆波動 The value of the Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the EMU market. 本基金的價值可能較容易受到影響歐元聯盟市場的不利經濟 政治 政策 外匯 流動性 稅務 法律或監管事件的影響 Eurozone risk 歐元區風險 In light of ongoing concerns on the sovereign debt risk of certain countries within the Eurozone, the Fund s investments in the region may be subject to higher volatility, liquidity, currency and default risks. Any adverse events, such as credit downgrade of a sovereign or exit of EU members from the Eurozone, may have a negative impact on the value of the Fund. 鑑於歐元區內若干國家的主權債務風險持續令人憂慮, 本基金投資於該區或會面臨更高的波動性 流動性 貨幣及違約風險 任何不利事件, 例如主權信貸評級被下調或歐盟成員國退出歐元區, 均可能對本基金的價值造成負面影響 Risk associated with small-capitalisation / mid-capitalisation companies 與中小型公司相關的風險 The shares of small-capitalisation/ mid-capitalisation companies may have lower liquidity and their prices are generally more volatile, especially during adverse economic developments, than those of larger capitalisation companies in general. 一般而言, 相比較大型公司, 中小型公司的股份流動性可能較低, 而其價格一般較為波動, 當經濟出現不利發展時尤其更甚 2

12 Derivative instrument risk 衍生工具風險 Risks associated with financial derivative instruments include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component of a financial derivative instrument can result in a loss significantly greater than the amount invested in the financial derivative instrument by the Fund. Exposure to financial derivatives instruments may lead to a high risk of significant loss by the Fund. 與金融衍生工具相關的風險包括對手方 / 信貸風險 流動性風險 估值風險 波動性風險及場外交易風險 金融衍生工具包含的槓桿元素 / 部分或會導致產生大為高於本基金投資於金融衍生工具的金額之損失 投資於金融衍生工具可能導致本基金承受產生重大虧損的高風險 Risks relating to hedging and the currency hedged share classes 有關對沖及貨幣對沖股份類別的風險 A currency hedged share class seeks to minimise the effect of currency fluctuations between the reference currency of the share class and the base currency of the relevant sub-fund. Movements in currency exchange rates can materially impact investment returns and investors should ensure they fully understand the difference between investment in currency hedged share classes versus investment in those share classes which are unhedged. 貨幣對沖股份類別旨在盡量減少股份類別的參考貨幣與相關附屬基金的基本貨幣之間的匯率波動影響 貨幣匯率的變動可對投資回報產生重大影響, 而投資者應確保彼等完全了解投資於貨幣對沖股份類別與投資於該等不進行貨幣對沖的股份類別之間的差異 Currency hedged share classes are not recommended for investors whose home currency (which refers to the main currency an investor uses on a day-to-day basis) is different to the class currency of the currency hedged share class. Investors who choose to convert their home currency to the reference currency of a currency hedged share class and subsequently invest in such a share class should be aware that they may be exposed to higher currency risks and may suffer material losses as a result of exchange rate fluctuations between the reference currency of the currency hedged share class and their home currency. 不建議其本國貨幣 ( 指投資者日常使用的主要貨幣 ) 有別於貨幣對沖股份類別的類別貨幣之投資者投資於貨幣對沖股份類別 如投資者選擇將其本國貨幣兌換為貨幣對沖股份類別的參考貨幣, 隨後投資於貨幣對沖股份類別, 則投資者應知悉, 彼等或會因貨幣對沖股份類別的參考貨幣與本國貨幣之間匯率波動而承受更高的貨幣風險及可能蒙受重大損失 There can be no assurance or guarantee that the Administration Agent or other appointed parties will be able to successfully implement passive currency hedging for currency hedged share classes at any time or at all. 概不保證或擔保行政代理或其他指定方將能夠隨時或一直成功地就貨幣對沖股份類別實施被動式貨幣對沖 3

13 How has the Fund performed? 本基金過往的業績表現如何? 50.0 HSBC Global Investment Funds - Euroland Equity (AD) 滙豐環球投資基金 歐元區股票 (AD) % Fund 基金 Benchmark 基準 Past performance information is not indicative of future performance. Investors may not get back the full amount invested. 過去業績並不代表將來的表現 投資者可能不能取回全部投資金額 The computation basis of the performance is based on the calendar year end, NAV-to-NAV, with dividend reinvested. 業績表現以曆年末的資產淨值作為比較基礎, 股息會滾存再作投資 These figures show by how much the share class increased or decreased in value during the calendar year being shown. Performance data has been calculated in EUR including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Performance is not denominated in HKD or USD. HKD or USD based investors are exposed to exchange rate fluctuations. 數據顯示股份類別於上述曆年的價值升跌 業績數據以歐元計算, 包括經常性開支但不包括您可能需支付的認購費用及贖回費用 業績非以港元或美元計算, 以港元或美元作出投資的投資者須承受匯率波動的風險 The Fund has formally adopted MSCI EMU Net as the reference performance benchmark of the Fund with effect from The reference performance benchmark is shown for comparison purposes only and the Fund may not be managed to the reference performance benchmark. 本基金已由 2016 年起正式採用摩根士丹利歐元聯盟淨回報指數 (MSCI EMU Net) 作為本基金的參考表現基準 所示參考表現基準僅供比較用途, 而本基金不一定依據參考表現基準予以管理 Fund launch date: 04/04/2003 基金成立日期 :04/04/2003 Class AD launch date: 31/07/2003 AD 類成立日期 :31/07/2003 Class AD is a share class open for investment by Hong Kong retail investors and denominated in the Fund s base currency. AD 類乃開放予香港零售投資者投資及以本基金的基本貨幣計價的股份類別 Is there any guarantee? 本基金有否提供保證? This Fund does not have any guarantees. You may not get back the full amount of money you invest. 本基金並不提供任何保證 閣下未必能全數取回投資本金 4

14 What are the fees and charges? 本基金涉及哪些費用? Charges which may be payable by you 認購本基金時閣下或須支付的費用 You may have to pay the following fees when dealing in the Fund. 閣下買賣本基金時可能須要支付以下費用 Fees 費用 What you pay 您須支付 Subscription fee 認購費 Up to 4.50% of the total subscription amount* 最高達認購總額的 4.50%* Switching fee 轉換費 Up to 1% of the Switch-Out proceeds* 最高達轉出所得款項的 1%* Redemption fee 贖回費 Nil* 無 * Ongoing fees payable by the Fund 本基金持續繳付的費用 The following expenses will be paid out of the Fund. They affect you because they reduce the return you get on your investments. 以下收費將從本基金總值中扣除, 閣下的投資回報將會因而減少 Fees 費用 Annual rate (as a % of the Net Asset Value of the Fund) 年率 ( 以本基金資產淨值之 %) Management fee 管理費 1.50% Custodian fee 保管費 Not applicable, included in Administrative fee 不適用, 已包括在行政費內 Administrative fee 行政費 0.35% # Performance fee 表現費 Not applicable 不適用 * You may need to bear additional costs under certain situations in order to mitigate any adverse impacts to the Fund caused by the transactions. Please refer to the offering document for further details. 為減輕交易可能對本基金造成的不利影響, 閣下可能在某些情況下承擔額外費用 進一步詳情請參閱銷售文件 # The fees and charges may be increased up to maximum level as specified in the offering document by giving at least one month s prior notice to investor. Please refer to the offering document for further details. This amount does not include the fees of the Administration Agent or other appointed parties relating to the execution of the currency hedging policy, which will be borne by the relevant currency hedged share class. Where the Administration Agent or other appointed parties takes these fees, the rate for fees relating to the execution of the currency hedging policy is 0.055% per annum of the net asset value of the currency hedged share class. 費用可增至銷售文件所定的最高水平, 但須予最少 1 個月預先通知投資者 進一步詳情請參閱銷售文件 此金額並不包括行政代理或其他指定方有關執行貨幣對沖政策的費用, 該費用將由有關貨幣對沖股份類別承擔 若行政代理或其他指定方收取該等費用, 執行貨幣對沖政策所收取的費用年率為貨幣對沖股份類別資產淨值的 0.055% Other fees 其他收費 You may have to pay other fees and charges when dealing in the Fund. 閣下買賣本基金時可能須要支付其他費用 Additional information 其他資料 You generally buy and redeem shares at the Fund s next-determined subscription price and redemption price with reference to the Net Asset Value (NAV) after the intermediaries receive your request in good order on or before 4:00pm (HK Time), being the Fund s dealing cut-off time. 一般而言, 閣下認購及贖回本基金股份的價格, 是在中介人於香港時間下午 4 時或之前 ( 即本基金的交易截止時間 ) 收到閣下的完整指示後, 參照本基金資產淨值而釐定的下一個認購價及贖回價 Intermediaries who sell the Fund may impose earlier cut-off times for receiving instructions for subscriptions, redemptions or switching. Investors should pay attention to the arrangements of the intermediary concerned. 銷售本基金的中介人可能就接受認購 贖回或轉換指示實施較早的截止時間 投資者須注意有關中介人的安排 Investors may obtain the past performance information of other share classes offered to Hong Kong investors at (the website has not been reviewed by the SFC). 投資者可瀏覽 網頁並未經證監會批閱 ) 以取得向香港投資者發售的其他股份類別的往績表現資料 Investors may obtain information on the intermediaries online at (the website has not been reviewed by the SFC). 投資者可瀏覽 網頁並未經證監會批閱 ) 以獲取中介人的資料 The net asset value of the Fund is calculated and the price of the Fund is published on each dealing day. The Fund prices are available online at 本基金的資產淨值及價格均於每個交易日計算及刊登 本基金價格刊登於 Important 重要資料 If you are in doubt, you should seek professional advice. 閣下如有疑問, 請應諮詢專業意見 The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. 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 Issued by HSBC Global Asset Management (Hong Kong) Limited 由滙豐環球投資管理 ( 香港 ) 有限公司刊發 5