SWS STRATEGIC INVESTMENT FUNDS (the Fund ) Shenyin Wanguo RQFII PRC Government Bond Fund (the Sub-Fund ) NOTICE TO SOLE UNITHOLDER

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1 SWS STRATEGIC INVESTMENT FUNDS (the Fund ) Shenyin Wanguo RQFII PRC Government Bond Fund (the Sub-Fund ) NOTICE TO SOLE UNITHOLDER This Notice is important and requires your immediate attention. If you are in any doubt about the content of this Notice, you should seek independent professional financial advice. Shenwan Hongyuan Asset Management (Asia) Limited (the Manager ) accepts full responsibility for the accuracy of the information contained in this document at the date of publication and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement misleading. Capitalised terms used herein shall bear the same meanings as capitalised terms used in the Explanatory Memorandum. 19 th July 2017 To the Sole Unitholder, Termination of the Sub-Fund We are writing to inform you of the termination of the Sub-Fund, a sub-fund of the Fund, the details of which are set out below. Earls Eight Limited is the sole investor of the Sub-Fund (the Sole Unitholder ) since its inception. Background Due to the small fund size of the Sub-Fund, we believe it is increasingly difficult to continue to manage the Sub-Fund in a cost efficient manner and as such, it would be in the best interest of the Sole Unitholder to terminate the Sub-Fund. The termination will only take place after the Trustee and the Manager have formed an opinion that the Sub-Fund has no outstanding contingent or actual liabilities or assets (which the Manager and the Trustee expect to take place as soon as practicable after the CIT Clearance Date (as defined below) when the treatment of the CIT (as defined below) provision has been finalised and settled). Subject to the foregoing and based on the Manager s best effort and reasonable expectation with due consideration on the timeframe needed to obtain the PRC tax clearance, the Manager expects that the termination will occur on around 31 October Before the proposed termination, the Units of the Sub-Fund will cease dealing as from 24 August Accordingly, the last Dealing Day of the Sub-Fund will be 23 Aug 2017 (the 1

2 Last Dealing Day ), and from the day after the Last Dealing Day onwards, no dealing of Units will be allowed. Separately, since the date of the Agreement (as defined below), the Sub-Fund has ceased to accept any subscription from new or existing investors and is no longer marketed to the public in Hong Kong. Reasons for the termination of the Sub-Fund Pursuant to Clause 27.3 of the Fund s Trust Deed, and as disclosed in the Explanatory Memorandum, the Manager may in its absolute discretion cause the Sub-Fund to be terminated if in the opinion of the Manager, it is impracticable or inadvisable to continue the Sub-Fund (including but without limitation, a situation where it is no longer economically viable to operate the Sub-Fund). It is now in the opinion of the Manager that it is no longer economically viable to operate the Sub-Fund. As at 30 June 2017, the Net Asset Value of the Sub-Fund was RMB 9,427, Provision for termination and operation expenses The total expense ratio of the Sub-Fund was 6.11% as at 31 December The total expense ratio represents total expenses and fees (excluding transaction costs) as a percentage of the Sub-Fund s average Net Asset Value for the period from 1 January 2015 (the first Dealing Day of the Sub-Fund) to 31 December The Manager has entered into an agreement (the Agreement ) with the Sole Unitholder on 22 June It is provided in the Agreement that all the expenses relating to the termination of the Sub-Fund shall be paid out of the assets of the Sub-Fund, unless such termination expenses exceed the Net Asset Value of the Sub-Fund, then the amount in excess would be borne by the Manager. Since the date of the Agreement, the Sub-Fund has ceased to accept any subscription from new or existing investors and is no longer marketed to the public in Hong Kong. Pursuant to the Agreement, the amount of the termination expenses as of 22 June 2016 was estimated as RMB 504,000. However, the estimated amount of the termination expenses has been changed mainly due to substantial costs incurred for the termination of the Sub-Fund and additional provisions made for out-of-pocket expenses and foreign exchange fluctuations since 22 June Expenses relating to the termination are estimated to be approximately RMB 782,000 as of the date of this Notice and the Sole Unitholder agrees that such cost will be charged to the Sub-Fund. As of the date of this Notice, there is no unamortised preliminary expenses of the Sub-Fund. There is an estimated amount of RMB 36,000 being the unpaid trustee fees and operating expenses of the Sub-Fund. Such expenses will be charged to the Sub-Fund. The Manager has waived any management fee payable by the Sub-Fund from the date of this Notice. The estimated total cost of RMB 818,000 (the Termination And Operation Expenses Provision ) (being the estimated termination costs, the unpaid trustee fees and the estimated operating expenses in connection with or arising out of, among others, the ongoing maintenance of the Sub-Fund until the Termination Date (as defined below)) will be set aside from the Sub-Fund s assets from the date of this Notice and reflected in the Net Asset Value of the Sub-Fund as at the date of this Notice. The Sole Unitholder agrees that if the actual total cost is higher than the Termination And Operation Expenses Provision and the Sub-Fund has remaining assets to pay the expenses, the actual cost will be borne by the Sub-Fund to the extent possible and thus the Net Asset Value of the Sub-Fund may be adversely affected and may drop substantially on or before the Termination Date. The Sole Unitholder also agrees that if, however, the Sub-Fund does not have any remaining assets to pay the expenses, the 2

3 amount in excess will be borne by the Manager. On the other hand, if the actual total cost of the Sub-Fund is lower than the amount of RMB 818,000 being set aside, the amount in excess will be released back to the Sub-Fund and distributed to the Sole Unitholder in accordance with the procedures set out in the section Arrangements after the Last Dealing Day - (c) Refund of the Termination And Operation Expenses Provision below. For the avoidance of doubt, the CIT (as defined below) provision will not be used for the settlement of expenses other than the CIT liability in the event that the Termination And Operation Expenses Provision falls short of the actual amount incurred during the period between the Last Dealing Day and the Termination Date. Free Redemption and Switching You may redeem your Units in the Sub-Fund, or switch your Units in the Sub-Fund to another sub-fund of the Fund on any Dealing Day during the period from the date of this Notice until 4:00 p.m. (Hong Kong time) on 1 month after the date of this Notice, free of any redemption charge or switching charge. Before investing in another sub-fund of the Fund, please ensure that you have read and understood the investment objective, policies and fees applicable to the relevant sub-fund as described in the Explanatory Memorandum and the relevant product key facts statement(s). You may refer to the latest Explanatory Memorandum and the relevant product key facts statement(s) of other sub-funds of the Fund, which are available at the office of the Manager and on the Manager s website at Please note that the website has not been reviewed by the SFC. For further details in relation to the procedures for redemption or switching of Units, please refer to the sections headed REDEMPTION OF UNITS and SWITCHING BETWEEN CLASSES / SUB-FUNDS in the Explanatory Memorandum. Arrangements after the Last Dealing Day (a) Compulsory Redemption All Units in the Sub-Fund remaining in issue on the Last Dealing Day will be compulsorily redeemed at the Redemption Price applicable as at the Last Dealing Day, free of any redemption charge. The Manager will realise the underlying investments of the Sub-Fund and will only hold cash from the Last Dealing Day. The Manager will, after having consulted with the Sub-Fund s Trustee, declare a distribution to the Sole Unitholder in respect of the Units of the Sub-Fund held on the Last Dealing Day. Such distribution would be made on or before the 7 th Business Day after the Last Dealing Day (the Distribution Date ) of an amount equal to the Sub-Fund s Net Asset Value per Unit multiplied by the number of Units held by the Sole Unitholder in the Sub-Fund as at the Last Dealing Day, and in any event no later than one calendar month after the Last Dealing Day. (b) CIT Provision Refund In addition, there may be Corporate Income Tax ( CIT ) Provision Refund (as defined below) to the Sole Unitholder in respect of the Units of the Sub-Fund held on the Last Dealing Day on or around the CIT Clearance Date (as defined below). Please refer to section PRC Tax Provisions Arrangements and Notification to the Sole Unitholder below for further details on the CIT Provision Refund. 3

4 (c) Refund of the Termination And Operation Expenses Provision In the event that the final termination cost of the Sub-Fund incurred is lower than the Termination And Operation Expenses Provision, the Manager will make a further distribution to the Sole Unitholder in respect of the Units of the Sub-Fund held as at the Last Dealing Day after having consulted with the Trustee. The Sole Unitholder will be informed of the entitlement of the refund of the excess in the Termination And Operation Expenses Provision one week prior to the Termination Date. The excess in the Termination And Operation Expenses Provision (if any) will be refunded to the Sole Unitholder no later than one month after the Termination Date. (d) Termination and Deauthorization After the settlement and clearance of the PRC tax on or around the CIT Clearance Date, and on the date on which the Trustee and the Manager form an opinion that the Sub-Fund cease to have any contingent or actual assets or liabilities (the Termination Date ), the Manager and the Trustee will proceed to the final stage of the termination of the Sub-Fund. We will apply to the Hong Kong Securities and Futures Commission (the SFC ) for the withdrawal of authorization of the Sub-Fund immediately following the termination of the Sub-Fund. Also, a termination audit will be carried out. The termination audit report will be distributed to the Sole Unitholder within 4 months of the Termination Date. PRC Tax Provisions Arrangements For the purposes of this Notice, CIT means Corporate Income Tax and CIT Clearance Date means the date on which: (A) any CIT liability arising from selling underlying securities of the Sub-Fund has been cleared and settled with the relevant PRC tax authorities; or (B) it is confirmed that there will be no CIT liability to be borne by the Sub-Fund in this regard, in each case of (A) and (B), as a result of any final tax decision made by the relevant PRC tax authorities. (a) PRC Tax By investing in the RMB-denominated debt instruments (including the RMB denominated corporate bonds), the Sub-Fund may be subject to taxes imposed by the PRC. (1) PRC CIT: (i) Capital gains For details of the PRC CIT, please refer to the risk factor PRC tax considerations under the section headed Risk Factors in the Explanatory Memorandum. Under the general taxing provision of the CIT Law, the Sub-Fund would be potentially subject to 10% PRC withholding income tax ( WIT ) on the PRC-sourced capital gains and interests, unless exempt or reduced under relevant double tax treaties. Regarding capital gains realised from trading of debt instruments, there is no specific rule governing taxes on capital gains derived by RQFIIs from trading of RMB denominated debt 4

5 instruments. Based on the current interpretation of the State Administration of Taxation and the local PRC tax authorities, gains derived by foreign investors (including RQFIIs) from investment in RMB denominated debt instruments should not be treated as PRC sourced income and thus should not be subject to PRC WIT. However, there are no written tax regulations issued by the PRC tax authorities to confirm that interpretation. As a matter of practice, such 10% PRC WIT on capital gains realised by non-prc tax resident enterprises from the trading of these RMB denominated debt instruments has not been enforced by the PRC tax authorities. In addition, under the Arrangement between the Mainland of China and the Hong Kong Special Administrative Region for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (the "China-HK Arrangement"), capital gains derived by a Hong Kong tax resident from transfer of debt instruments issued by the PRC government or PRC corporations is eligible for the tax relief and should not be taxable in the PRC. The aforesaid capital gain tax exemption will be subject to review and agreement from the PRC tax authorities. Before a Hong Kong tax resident can enjoy relief under the China-HK Arrangement, a Hong Kong Tax Resident Certificate ( HKTRC ) issued by the Inland Revenue Department ( IRD ) should be submitted to the relevant PRC tax authority for this purpose. However, the China-HK Arrangement may be changed in the future and the Sub-Fund may ultimately be required to pay PRC withholding tax on capital gains. As at the date of this Notice, the Sub-Fund has not yet obtained the HKTRC from the IRD. If the PRC tax authorities enforce the collection of PRC withholding tax on capital gains and require the Sub-Fund to provide a HKTRC in order to obtain the PRC withholding tax exemption, the Manager will apply for a HKTRC on behalf of the Sub-Fund from the IRD for the relevant years. Whether the Manager is able to obtain a HKTRC on behalf of the Sub- Fund is subject to prevailing practice of Hong Kong and/or PRC tax authorities. The Sub- Fund may need to apply with the IRD for a HKTRC on an annual basis, which is subject to the assessment of the IRD. There is a risk that the Manager will not be able to obtain a HKTRC on behalf of the Sub-Fund. To date, the PRC tax authorities have not sought to enforce PRC withholding tax collection on capital gains derived from the transfer of debt securities for the Sub-Fund. If the PRC tax authorities start to enforce PRC withholding tax collection on such capital gains, the relief under the China-HK Arrangement is still subject to the review and agreement of the relevant PRC tax authorities. Even if the Manager believes that the Sub-Fund should be eligible for such relief, the PRC tax authorities may ultimately hold a different view. (ii) Interest Unless a specific exemption is applicable, for recipients that are treated as non-residents in PRC and have not created an establishment or place of business ( PE ) in the PRC or have created a PE in the PRC but its income is not effectively connected with such PRC PE, under the CIT Law, a WIT is levied on the payment of interests on those debt instruments, including bonds issued by enterprises established within the PRC. The general rate applicable is 10% (for non- residents). The entity distributing interests is required to withhold WIT. Currently, a 10% PRC WIT is payable on interests derived from RMB denominated corporate bonds (including bonds issued by PRC policy banks) invested by the Sub-Fund through RQFII. If the RQFII is a tax resident of a tax treaty country, it may apply for the reduced PRC WIT rate under the tax treaty. On the other hand, interests derived from PRC government bonds issued by the in-charge Finance 5

6 Bureau of the State Council and/or local government bonds approved by the State Council are exempt from PRC income tax under the CIT law. The Sub-Fund has only invested in PRC government bonds since its inception. As discussed above, interests derived from PRC government bonds issued by the in-charge Finance Bureau of the State Council and/or local government bonds approved by the State Council are exempt from PRC income tax under the CIT law. Therefore, the entity distributing interests is not required to withhold WIT and the Sub-Fund is not subject to CIT in respect of interest income received from PRC government bonds under the prevailing PRC tax regulations. Accordingly, no CIT provision on the interest income received by the Sub-Fund from PRC government bonds has been made. (iii) CIT Provision As at the date of this Notice, the Manager has made provisions for the PRC taxes payable by the Sub-Fund on the gross realised and unrealised capital gains derived from the disposal of RMB fixed income securities, at a rate of 10%, if the WIT is not withheld at source. As at 30 June 2017, the total CIT provision in respect of the Sub-Fund was RMB 458, (2) PRC Value-added Tax ("VAT") and other surtaxes: On 23 March 2016, the Ministry of Finance and the State Administration of Taxation jointly released Caishui [2016] No.36 ( Circular 36 ) on the transformation from Business Tax to VAT (the B2V Reform ). The B2V Reform was officially implemented on 1 May Pursuant to Circular 36, gains realised by taxpayers from the trading of marketable securities would generally be subject to VAT at 6%. Under Circular 36 and Supplementary Notice on the VAT Policy on Interbank Transactions and Other Financial Institutions (Caishui [2016] No. 70), gains realised by QFIIs and RQFIIs from trading of PRC securities are exempted from VAT. In addition, interest received from government bonds and local government bonds are also exempted from VAT. The VAT regulations do not specifically exempt VAT on interest earned by QFII / RQFII. Hence, interest on non-government/ non-local government bonds (including corporate bonds, PRC policy bank bonds, bonds issued by financial institutions on the inter-bank and exchange market) in theory should be subject to 6% VAT. Dividend income or profit distributions on equity investment derived from China are not included in the taxable scope of VAT. In addition, urban maintenance and construction tax (currently at the rate ranging from 1% to 7%), educational surcharge (currently at the rate of 3%) and local educational surcharge (currently at the rate of 2%) (collectively the surtaxes) are imposed based on the VAT liabilities; i.e. if the Sub-Fund is deemed liable for VAT, it will be required to pay these surtaxes. If VAT will be exempted based on the above, no corresponding surtaxes will be levied. However as indicated above, if this position were to change, then the surtaxes would apply, which would be a charge against the assets of the Sub-Fund and therefore would negatively impact on a Shareholder s holding. The Sub-Fund has only invested in PRC government bonds since its inception, therefore interest received from government bonds and local government bonds are exempted from VAT and no provisions on VAT have been made. In the event that the Sub-Fund is determined to be subject to VAT, the Sole Unitholder will not be liable for any VAT liability and the Manager will be liable for any VAT liabilities and payments. 6

7 (b) Notification to the Sole Unitholder Before the CIT Clearance Date, the Manager will provide the Sole Unitholder with periodic updates of the status, if any, of the clearance and the relevant refund of provision. For the avoidance of doubt, the notification as further discussed below will only be applicable for so long as the Sole Unitholder remains holding the Units of the Sub-Fund as of the Last Dealing Day. On or as soon as practicable after the CIT Clearance Date, the Manager will notify, by means of notice, the Sole Unitholder: (a) (b) their entitlement (if any) to any refund of any CIT provision (where, by the CIT Clearance Date, no CIT is to be charged, or no CIT is to be charged retrospectively, or the CIT is to be charged retrospectively but the amount charged is less than the CIT provision) withheld by the Sub-Fund; or they are not entitled to any refund of the CIT provision (where, by the CIT Clearance Date, CIT is to be charged retrospectively and the CIT provision is to be fully utilised to discharge such liability which equals or exceeds the CIT provision). Should any of the circumstances under (a) above take place by the CIT Clearance Date, the following would apply: i. the Sole Unitholder will be notified by the Manager, by means of notice as soon as practicable, that it will be entitled to a pro-rata portion of the CIT provision refund attributable to its unitholding as at the Last Dealing Day (the CIT Provision Refund ); ii. iii. the CIT Provision Refund will be refunded to the Sole Unitholder in respect of its unitholding on the Last Dealing Day as soon as practicable after the CIT Clearance Date; and if, after the CIT Clearance Date, the PRC tax authorities make a tax decision to the effect that the Sub-Fund should bear any CIT, the Manager will be prepared to bear such CIT payment so that the Sole Unitholder will not be required to be responsible for any such CIT payment. The CIT Provision Refund (if any), together with the relevant distributions including the refund of the Termination And Operation Expenses Provision (if any) as described above, to the Sole Unitholder will, subject to the applicable laws and the applicable provisions of the Trust Deed, operate to discharge the Manager and the Trustee in full any liability or obligation they may owe to the Sole Unitholder in respect of its unitholding in the Sub-Fund. IMPORTANT: Please note that if the Sole Unitholder disposes of its Units at any time on or before the Last Dealing Day, the Sole Unitholder will not, in any circumstances, be entitled to any portion of such CIT Provision Refund in respect of any Units so disposed of. The Sole Unitholder should therefore exercise caution and consult with their 7

8 professional and financial advisers before dealing in their Units or otherwise deciding on any course of actions to be taken in relation to their Units. Should any of the circumstances under section (b) above take place by the CIT Clearance Date and the CIT provision is to be fully utilised to discharge such liability which equals or exceeds the CIT provision, the Sole Unitholder will not be entitled to any CIT Provision Refund, and the Manager will notify the Sole Unitholder should this occur by means of notice as soon as practicable. However, in such case, the Sole Unitholder will not be liable for any CIT liability shortfall should the CIT provision be insufficient to discharge the CIT liability of the Sub-Fund in full, and the Manager will be liable for such CIT liability shortfall. Tax implications The Sole Unitholder should note that under current law and practice in Hong Kong, the Fund and the Sub-Fund are not expected to be subject to Hong Kong tax in respect of any of the authorised activities. No tax will be payable by the Sole Unitholder in Hong Kong in respect of dividends or other income distributions of the Fund or the Sub-Fund or in respect of any capital gains arising on a sale, redemption, conversion or other disposal of Units, except that Hong Kong profits tax may arise where such transactions form part of a trade, profession or business carried on in Hong Kong. The taxation discussed under the section PRC Tax Provisions Arrangements and Tax implications in this Notice do not constitute tax advice. The Sole Unitholder should consult their own professional advisers on the potential taxation consequences of their transferring, selling, redemption, conversion or otherwise disposing of the Units in the Sub-Fund. Waiver While the Sub-Fund will cease dealing effective from the Last Dealing Day, because of certain outstanding actual or contingent assets or liabilities in relation to PRC tax of the Sub- Fund, the Sub-Fund will remain in existence after the Last Dealing Day until the Termination Date. During such period, the Sub-Fund will maintain its SFC authorisation status, until the completion of the proposed termination. The Manager shall apply to the SFC for withdrawal of authorisation of the Sub-Fund after the Termination Date. However, following the Last Dealing Day, there will be no further subscription or redemption of Units. Also, the Manager will realise the underlying investments of the Sub-Fund and will only hold cash from the Last Dealing Day for the settlement and clearance of the PRC tax. Accordingly, with a view to minimising the further costs, fees and expenses in managing the Sub-Fund following the Last Dealing Day and in the best interest of investors, the Manager has applied to the SFC for, and has been granted, a waiver from strict compliance with the following provisions of the Code on Unit Trusts and Mutual Funds (the Code ) for the period from the Last Dealing Day to the date on which the SFC approves the deauthorisation of the Sub-Fund. (a) Updating of the offering documents Under Chapters 6.1 and 11.1B of the Code, the offering documents of the Sub-Fund (consisting of the Explanatory Memorandum of the Sub-Fund and the Product Key Facts Statement of the Sub-Fund) must be up-to-date and must be updated to incorporate any relevant changes to the Sub-Fund. 8

9 In view of the cessation of dealing of Units from the Last Dealing Day, and there being no further subscription or redemption of Units, the Manager considers that it is not necessary to update the offering documents to reflect any future changes to the Sub-Fund. As such, the Manager has applied to the SFC for, and has been granted, a waiver from strict compliance with the above-mentioned requirements under Chapters 6.1 and 11.1B of the Code for the period from the Last Dealing Day to the date on which the SFC approves the deauthorisation of the Sub-Fund. Without prejudice to the other obligations of the Manager under Chapter 11.1B of the Code, the Manager has undertaken and confirmed with the SFC that it shall: (a) promptly notify the Sole Unitholder of any changes to the Sub-Fund (if any) by means of publishing notice(s) on its website (each, a Relevant Future Notice ); and (b) ensure that each Relevant Future Notice shall include a statement to refer the Sole Unitholder to read this Notice together with the offering documents, and any other Relevant Future Notice(s). For the avoidance of doubt, the matters discussed under (a) Updating of the offering documents above will only be applicable to the Sole Unitholder for so long as the Sole Unitholder remains holding the Units of the Sub-Fund as of the Last Dealing Day. (b) Preparation of the annual report covering the Termination Audit Period Under Chapter 11.6 of the Code, the Manager is required to publish and distribute (a) annual reports to investors within four months of the end of the Sub-Fund's financial year and (b) interim reports to holders within two months of the end of the Sub-Fund's financial year. Since the Manager will realise the underlying investments of the Sub-Fund and will only hold cash from the Last Dealing Day for the settlement and clearance of the PRC tax, with a view to minimising the operational costs, the Manager has applied to the SFC for, and has been granted, a waiver from strict compliance with the above-mentioned requirements under 11.6 of the Code such that, to the extent if the Termination Date falls within the first four months of the relevant financial year (the relevant financial year ), the annual report of the preceding year will be combined with the Termination Audit of the Sub-Fund covering the period from 1 January of the year preceding the relevant financial year to the Termination Date (the Termination Audit Period ). This waiver shall be subject to the following conditions: (a) the contents of the annual report for the Termination Audit Period (the Termination Audit Report ) shall comply with the requirements under 4.5(f) and Appendix E to the Code, and all other applicable provisions of the Code, other applicable laws and regulations; (b) if the Termination Date falls within the first four months of the relevant financial year and the waiver becomes applicable, the Manager shall notify the Sole Unitholder by way of a notice on its website as soon as practicable before the annual report for the year preceding the relevant financial year is due (the Original Due Date ). Such notice shall notify the Sole Unitholder of, among other things: (i) when the Termination Audit Report will be published; (ii) the start and end dates of the Termination Audit Period; and (iii) where the Termination Audit Report, in printed and electronic forms, can be obtained; and 9

10 (c) the Termination Audit Report shall be published on the Manager s website as soon as practicable and in any event no later than four months after the Termination Date (i.e. not more than 20 months from 1 January of the year preceding the relevant financial year), and will remain published on the Manager s website for a period of at least one year after the date on which the Sub-Fund is deauthorised from the SFC. For the avoidance of doubt, except for the Termination Audit Period, the Manager will continue to arrange for the necessary interim and annual reports for the Sub-Fund to be prepared in accordance with the Code. Based on the above analysis, the Manager considers that the Sole Unitholder will not be prejudiced from these waivers. For the avoidance of doubt, the annual reports and interim reports mentioned above will be made available to the Sole Unitholder for so long as the Sole Unitholder remains holding the Units of the Sub-Fund as of the Last Dealing Day. The Manager confirms that, save for the particular provisions of the Code set out above, the Manager will continue to comply with all the other applicable provisions of the Code, the applicable provisions in the Trust Deed and other applicable laws and regulations in respect of the Sub-Fund. Copies of the Explanatory Memorandum, the product key facts statement of the Sub-Fund, and other documents set out in the section headed DOCUMENTS AVAILABLE FOR INSPECTION in the Explanatory Memorandum (including the Trust Deed, and any supplemental deeds and the latest financial reports of the Fund) are available for inspection at the office of the Manager during normal business hours. Should you have any questions about the above, please contact us at Level 19, 28 Hennessy Road, Hong Kong or by telephone at Shenwan Hongyuan Asset Management (Asia) Limited 10