HSBC Global Investment Funds - BRIC Equity S Share Class (Active - Closed to New Investors) 31 Jan 2019 31/01/2019 Fund Objective and Strategy Investment Objective The Fund aims to provide long-term total return (meaning capital growth and income) by investing in shares from companies in Brazil, Russia, India and China (also known as BRICs). Investment Strategy The Fund may invest in shares from companies in Hong Kong s special administrative region (SAR). In normal market conditions, at least 90% of the Fund s assets are invested in shares (or securities that are similar to shares) from companies that are based in, or carry our most of their business in, the above countries. There aren t restrictions on the market values of the companies held in the Fund. The Fund's maximum exposure to China A-shares and China B-shares is 50% of its assets. The Fund may invest up to 10% of its assets into other funds. See the Prospectus for a full description of the investment objectives and derivative usage. Share Class Details Since UCITS V Compliant Yes Performance (%) YTD 1M 3M 1Y 3Y¹ 5Y¹ Inception¹ Subscription Mode Cash 10.44 10.44 10.02-8.61 25.63 9.17 7.98 (Net) 2 4.64 4.64 4.24-13.40 23.40 8.00 7.56 Distribution Type Accumulating Dealing Frequency Daily 10.51 10.51 10.93-6.34 23.30 8.16 9.88 Benchmark Valuation Time 17:00 Luxembourg Min. Initial Investment 1,000 Calendar Year Performance (%) -5.96-16.33 33.34 31.73-6.83 Max. Initial Charge 5.00% (Net) 2-10.90-20.72 26.34 24.81-11.72 Base Currency Domicile Luxembourg -9.84-13.21 28.56 30.12-5.64 Benchmark ISIN LU0214875030 01 Apr 2005 3-Year Risk Measures Volatility Information Ratio 2014 2015 Benchmark 18.33% 16.74% 0.65 - Beta 1.08 - Characteristics Number of Holdings ex Cash Avg Market Cap ( mil) 2016 2017 Fund Past performance is not an indicator of future returns. The figures are calculated in the share class base currency, dividend reinvested. Source: HSBC Global Asset Management, data as at 31 January 2019 2018 Benchmark 51 612 70,999 81,624 Risk Disclosure The Fund's unit value can go up as well as down, and any capital invested in the Fund may be at risk. The value of investible securities can change over time due to a wide variety of factors, including but not limited to: political and economic news, government policy, changes in demographics, cultures and populations, natural or human-caused disasters etc. The Fund may invest in Emerging Markets, these markets are less established, and often more volatile, than developed markets and involve higher risks, particularly market, liquidity and currency risks. The Fund may be concentrated in a limited number of securities, economic sectors and/or countries and as a result, may be more volatile and have a greater risk of loss than more broadly diversified funds. Derivatives may be used by the Fund, and these can behave unexpectedly. The pricing and volatility of many derivatives may diverge from strictly reflecting the pricing or volatility of their underlying reference(s), instrument or asset. Investment Leverage occurs when the economic exposure is greater than the amount invested, such as when derivatives are used. A Fund that employs leverage may experience greater gains and/or losses due to the amplification effect from a movement in the price of the reference source. Further information on the Fund's potential risks can be found in the Key Investor Information Document and Prospectus. Annual Management Fee 1.00% Inception Date NAV per Share Fund Size Bloomberg Ticker Benchmark Manager 28.95 342,123,829 HSBRIM2 LX 25% MSCI Brazil Net, 25% MSCI China Net, 25% MSCI Russia Net, 25% MSCI India Net Nicholas Timberlake 1 Result is annualised when calculation period is over one year. 2 Net of relevant prevailing sales charge The reference benchmark was applied to the fund with effect from 30 June 2016 to align with global disclosures and is applied to the performance data provided above across all periods
Monthly Performance Commentary Market Review Emerging markets, as defined by the MSCI Emerging Markets Net, delivered strong performance in January, outperforming Developed Markets. The Fed s dovish stance, EM FX rally and positive headlines supported the asset class. During the period the custom equally weighted BRIC index was up 10%, with all countries but India in positive territory. Brazil was the best performing country whilst India underperformed. In Brazil, markets were supported by positive momentum for the country after the inauguration of the new government and a dovish Fed. On the other side, India delivered weak performance, on the back of INR depreciation. Sentiment was impacted by a mixed quarterly reporting season and macro variables deteriorated somewhat during the month as crude oil prices rallied. Fund Review Detractors included our Indian holdings in Shriram Transport Finance and Indiabulls housing finance. Our overweight position in Vale which was down on the back of the Feijao Mine Dam disaster. On the back of this, Vale suspended its dividend and buyback program which was one of the key positive signals to investors in recent times. We exited our position in the name. Offsetting some of those losses, key contributors included our Brazilian holdings in CCR, Kroton Educacional and MRV Engenharia which rallied on the back of strong Brazilian market. Outlook We remain positive on select emerging and BRIC markets based on attractive valuations and as corporate earnings growth outlook supportive. Near-term volatility can be expected with the US-China trade talks, economic transition in China, and the robustness of the global economy as a whole. Geopolitical uncertainty also poses risks. As fundamental investors, we focus on quality companies that offer an attractive combination of profitability and valuation. Bouts of market uncertainty can give rise to opportunities to invest in companies at a more attractive entry price. We believe following a disciplined investment approach should help navigate short-term uncertainties.
Sector Allocation (%) Geographical Allocation (%) Financials Energy Communication Services Consumer Discretionary Materials Industrials Real Estate Information Technology Utilities Consumer Staples Health Care Cash & Others 9.71 11.77 8.01 6.02 7.70 9.79 5.60 3.68 4.84 1.76 2.88 5.43 2.35 2.77 1.82 7.01 0.35 2.25 2.11 0.00 28.95 26.58 25.68 22.95 Russian Federation China Brazil India Other Locations Cash & Others 0.00 0.26 2.11 0.00 27.18 24.74 26.88 25.00 23.18 25.00 20.64 25.00 Benchmark Benchmark Top 10 Holdings (%) Location Sector Weight (%) Sberbank of Russia Lukoil OAO Banco Bradesco SA Reliance Industries Ltd Tencent Holdings Ltd Alibaba Group Holding Ltd Petroleo Brasileiro SA Gazprom OAO Novatek OAO Infosys Ltd Source: HSBC Global Asset Management, data as at 31 January 2019 Russian Federation Financials 6.59 Russian Federation Energy 6.11 Brazil Financials 5.37 India Energy 3.98 China Communication Services 3.88 China Communication Services 3.61 Brazil Energy 3.43 Russian Federation Energy 3.16 Russian Federation Energy 2.99 India Information Technology 2.88 Index Disclaimer Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an as is basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the MSCI Parties ) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)
Important Information 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. This document is for information only and is not an advertisement, investment recommendation, research, or advice. Any views and opinions expressed are subject to change without notice. It does not have regard to the specific investment objectives, financial situation, or needs of any specific person. Investors and potential investors should not invest in the Fund solely based on the information provided in this document and should read the prospectus (including the risk warnings) and the product highlights sheets, which are available upon request at HSBC Global Asset Management (Singapore) Limited ( AMSG ) or our authorised distributors, before investing. You should seek advice from a financial adviser. Investment involves risk. Past performance of the managers and the funds, and any forecasts on the economy, stock or bond market, or economic trends that are targeted by the funds, are not indicative of future performance. The value of the units of the funds and income accruing to them, if any, may fall or rise and investor may not get back the original sum invested. Changes in rates of currency exchange may affect significantly the value of the investment. AMSG has based this document on information obtained from sources it reasonably believes to be reliable. However, AMSG does not warrant, guarantee or represent, expressly or by implication, the accuracy, validity or completeness of such information. HSBC Global Asset Management (Singapore) Limited 21 Collyer Quay #06-01 HSBC Building Singapore 049320 Telephone: (65) 6658 2900 Facsimile: (65) 6225 4324 Website: www.assetmanagement.hsbc.com/sg Company Registration No. 198602036R Should there be any discrepancy, the English version shall prevail. This document has not been reviewed by the Monetary Authority of Singapore.
HSBC Global Investment Funds - BRIC Equity Supplement Information Sheet 31 Jan 2019 Performance (%) Return Currency YTD 1M 3M Since 6M 1Y 3Y 1 5Y 1 Inception 1 AC EUR EUR 10.00 10.00 8.50 7.32-1.27 22.59 12.19 8.87 AC EUR (Net) 2 EUR 4.23 4.23 2.81 1.69-6.45 20.40 10.99 8.46 AC SGD SGD 8.67 8.67 6.70 3.96-6.60 22.66 9.73 6.28 AC SGD (Net) 2 SGD 2.96 2.96 1.10-1.50-11.50 20.48 8.55 5.87 AC 10.39 10.39 9.88 5.25-9.06 25.01 8.62 7.74 AC (Net) 2 4.59 4.59 4.11-0.28-13.84 22.78 7.46 7.33 M1C 10.44 10.44 10.02 5.51-8.61 25.63 9.17 8.09 M1C (Net) 2 4.64 4.64 4.24-0.03-13.40 23.40 8.00 7.68 EUR EUR 10.05 10.05 8.64 7.59-0.78 23.20 12.75 8.93 EUR (Net) 2 EUR 4.27 4.27 2.93 1.94-5.99 21.01 11.54 8.51 SGD SGD 8.72 8.72 6.83 4.22-6.13 23.28 10.28 6.36 SGD (Net) 2 SGD 3.01 3.01 1.22-1.25-11.06 21.08 9.10 5.95 10.44 10.44 10.02 5.51-8.61 25.63 9.17 7.98 (Net) 2 4.64 4.64 4.24-0.03-13.40 23.40 8.00 7.56 Calendar Year Performance (%) Return Currency 2014 2015 2016 2017 2018 AC EUR EUR 6.55-7.27 36.64 15.14-2.65 AC EUR (Net) 2 EUR 0.95-12.14 29.46 9.09-7.76 AC SGD SGD -1.80-10.87 35.11 21.25-5.25 AC SGD (Net) 2 SGD -6.96-15.55 28.01 14.89-10.22 AC -6.43-16.75 32.67 31.08-7.30 AC (Net) 2-11.34-21.12 25.70 24.20-12.16 M1C -5.96-16.34 33.34 31.73-6.83 M1C (Net) 2-10.90-20.73 26.34 24.82-11.72 EUR EUR 7.08-6.80 37.32 15.71-2.16 EUR (Net) 2 EUR 1.46-11.69 30.11 9.63-7.29 SGD SGD -1.31-10.43 35.78 21.85-4.77 SGD (Net) 2 SGD -6.49-15.13 28.66 15.46-9.77-5.96-16.33 33.34 31.73-6.83 (Net) 2-10.90-20.72 26.34 24.81-11.72 1 Result is annualised when calculation period is over one year. 2 Net of relevant prevailing sales charge Past performance is not an indicator of future returns. The figures are calculated in the share class base currency, dividend reinvested. Share Class Base Currency Distribution Frequency Dividend ex-date Last Paid Dividend Annualised Yield - - - - AC - - - - M1C - - - - The above table cites the last dividend paid within the last 12 months only. Dividend is not guaranteed and may be paid out of distributable income, capital or both, which could 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. 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. Investors and potential investors should refer to the details on dividend distributions of the Fund, which are available on HSBC Global Asset Management (Singapore) Limited website.
HSBC Global Investment Funds - BRIC Equity Supplement Information Sheet 31 Jan 2019 Share Class Inception Date ISIN AC M1C Base Currency Min. Initial Investment NAV per Share Annual Management Fee Distribution Type 01 Apr 2005 LU0214875030 1,000 28.95 1.00% Accumulating 01 Dec 2004 LU0449509016 1,000 27.33 1.50% Accumulating 01 Dec 2004 LU0205170342 1,000 30.11 1.00% Accumulating Different classes may have different performances, dividend yields and expense ratios. For hedged classes, the effects of hedging will be reflected in the net asset values of such classes. Expenses arising from hedging transactions may be significant and will be borne by the relevant hedged classes. Hedged class performs the required hedging on a best efforts basis. Source: HSBC Global Asset Management, data as at 31 January 2019