Schroder ISF - Emerging Europe A Acc 施羅德環球基金系列 - 新興歐洲 A 類股份累積單位 As at 截至 31/05/2019 Important Information 重要事項 The fund invests primarily in equity an

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1 Schroder ISF - Emerging Europe A Acc 施羅德環球基金系列 - 新興歐洲 A 類股份累積單位 As at 截至 31/05/2019 Important Information 重要事項 The fund invests primarily in equity and equity related securities of Central and Eastern European companies. The fund may invest in emerging markets which are subject to political and economic, legal and regulatory, market and settlement, execution and counterparty and currency risks. The fund may invest substantially in European securities and may suffer from adverse economic or financial events in Europe. The fund may use derivatives to meet its investment objective but does not intend to use derivatives extensively for investment purposes. Derivatives exposure may involve higher counterparty, liquidity and valuation risks. In adverse situations, the fund may suffer significant losses from their derivative usage for hedging. For share classes with a general dividend policy, expenses will be paid out of capital rather than out of gross income. The amount of distributable income therefore increases and the amount so increased may be considered to be dividend paid out of capital. Share classes with a fixed dividend policy may pay out both income and capital in distributions. Where distributions are paid out of capital, this amounts to a return or withdrawal of part of your original investment or capital gains attributable to that and may result in an immediate decrease in the net asset value of shares. You should not make any investment decision solely based on this document. Please read the relevant offering document carefully for further fund details including risk factors. 基金主要投資於在歐洲中部及東部公司的股本和股本相關證券 基金可投資於新興市場而須承受政治和經濟 法律及監管 市場及結算 執行及交易對手方及貨幣風險 基金可重大投資於歐洲證券而可能受歐洲負面的經濟或金融事件影響 基金可投資於金融衍生工具以達致投資目標, 但無意為投資目的而大量運用金融衍生工具 運用金融衍生工具可涉及較高的對手方 流通性及估值的風險 在不利的情況下, 基金可能會因為使用金融衍生工具作對沖之用而承受重大虧損 一般股息政策的股份類別, 支出將從資本而並非總收入中支付, 可分派收入因此增加, 而增加的部份可被視為從資本中支付的股息 定息政策的股份類別, 其股息可能同時由收入及資本中支付 從資本中支付的派息相當於從閣下原本投資的金額中, 或從該等金額賺取的資本收益中退回或提取部份款項, 可能導致每股資產淨值即時下跌 閣下不應僅倚賴本文件而作出任何投資決定 請詳閱有關銷售文件以得悉基金之詳情包括風險因素 Investment Objective 投資目標 The fund aims to provide capital growth by investing in equity and equity related securities of Central and Eastern European companies. 基金旨在通過投資於歐洲中部及東部的公司的股本和股本相關證券, 以提供資本增值 Cumulative Performance 累積表現 (%) YTD Fund 基金 Index 指數 (%) Fund 基金 3 Mths 1 Yr 3 個月 1 年 年初至今 Geographical Breakdown 地區資產分佈 (%) Russian Federation 俄羅斯 Poland 波蘭 Turkey 土耳其 8.15 Hungary 匈牙利 7.19 Greece 希臘 3.89 United Kingdom 英國 3.44 Kazakhstan 哈薩克斯坦 2.15 Czech Republic 捷克共和國 1.90 Slovenia 斯洛文尼亞 1.20 Liquid Assets 流動資產 0.31 Industry Breakdown 行業資產分佈 (%) Financials 金融 Energy 能源 Materials 原料 8.73 Consumer Staples 基本消費品 4.27 Health Care 健康護理 4.12 Industrials 工業製造 4.03 Consumer Discretionary 非必需消費品 2.98 Communication Services 通訊服務 2.38 Liquid Assets 流動資產 Yrs 3 年 MSCI Emerging Markets Europe 10/40 Net (TR) 5 Yrs 5 年 Annual Return 基金總回報 (%) Since Launch 自設立日起 Fund 基金 Index 指數 Top Holdings 主要投資 (%) Gazprom 9.83 Sberbank of Russia 9.44 Lukoil 9.44 NovaTek 8.36 MMC Norilsk Nickel 3.44 Powszechna Kasa Oszczednosci Bank 3.15 Polski Polyus 3.15 Mol Hungarian Oil & Gas 3.10 Tatneft 3.06 Richter Gedeon 2.90 Key Information 基金資料 Unit NAV 單位資產淨值 Hi/Lo (Past 12 mths) 最高 / 最低 ( 過去十二個月 ) Annualised Return (3 yrs) 年度回報率 (3 年 ) Annualised Volatility (3 yrs) 年均相對波幅 (3 年 ) EUR ( 歐元 ) EUR / ( 歐元 ) 13.85% 14.35% Beta (3 yrs) 貝他 (3 年 ) 0.87 Sharpe Ratio (3 yrs) 0.99 夏普比率 (3 年 ) Initial Charge up to 首次認購費上限 5.00% Management Fee 管理年費 1.50% p.a. Fund Manager 基金經理 Launch Date 推出日期 Fund Size 資產值 (million 百萬元 ) Unit Available 單位類別 Financial Year End 財政年度結算日 Schroders InvestLink Code 施羅德資訊通 編號 Bloomberg Ticker 彭博代碼 ISIN CODE ISIN 號碼 TM èmorningstar Rating 晨星星號評級 Source: Lipper 資料來源 : 理柏 Performance as at 根據表現截至 31/12/2018 Rollo Roscow & Mohsin Memon 01/00 EUR ( 歐元 ) Accumulation ( 累積 ) 31/ SCHEMAA LX LU Lipper Fund Awards HK Equity Emerging Mkts Europe 3 years 理柏基金香港年獎 2019 最佳基金 3 年獎 - 新興歐洲股票 Schroder International Selection Fund is referred to as Schroder ISF. Source : Schroders. NAV-NAV in EUR with net income re-invested. The Fund size quoted includes all classes of the Fund. Investment involves risks. Past performance is not indicative of future performance. Please refer to the relevant offering documents for fund details including risk factors. This material, including the website, is issued by Schroder Investment Management (Hong Kong) Limited and has not been reviewed by the SFC. HKD/USD based investors are exposed to currency fluctuations where funds are denominated in currencies other than HKD/USD. èmorningstar, Inc. All Rights Reserved. Morningstar Rating (TM) as at 31/05/2019. 資料來源 : 施羅德投資 基金表現以資產淨值價 ( 歐元 ) 計算, 收益再投資 本基金之資產值已涵蓋其所有類別 投資涉及風險 過往表現未必可作日後業績的準則 詳情 ( 包括風險因素 ) 請參閱有關銷售文件 本文件及網站由施羅德投資管理 ( 香港 ) 有限公司刊發並未受香港證監會檢閱 以港元 / 美元投資於其他貨幣計值的基金投資者, 或要承擔匯價波動的風險 èmorningstar 版權所有 晨星星號評級數據截至 31/05/2019 Download the offering documents here 從此處下載銷售文件

2 R.C.S. Luxembourg B For your security telephone conversations may be recorded Schroder Investment Management (Europe) S.A. 5, rue Höhenhof, L-1736 Senningerberg Grand Duchy of Luxembourg

3 Chris Burkhardt Nirosha Jayawardana

4 產品資料概要施羅德環球基金系列 - 新興歐洲 發行人 :Schroder Investment Management (Europe) S.A 年 4 月 本概要提供本基金的重要資料, 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 管理公司 : Schroder Investment Management (Europe) S.A. 投資經理 : Schroder Investment Management Limited( 英國, 內部委任 ) 存管處 : J.P. Morgan Bank Luxembourg S.A. 全年經常性開支比率 *: A 類別 ( 歐元累積 ) 1.89% A 類別 ( 英鎊收息 )AV 1.89% A 類別 ( 歐元收息 )AV 1.89% A1 類別 ( 美元累積 ) 2.39% A1 類別 ( 歐元累積 ) 2.39% 交易頻密程度 : 基本貨幣 : 派息政策 : 每日 歐元 A A1 和 D 累積股份類別 - 不會派發股息, 但會將股息再投資於基金 A A1 和 D 收息股份類別 - 董事會一般可酌情決定是否作出任何派息 股份類別定名中以如下形式表示派息次數 :M = 每月,Q = 每季,S = 每半年,A = 每年派息可從資本中扣除, 從而減低基金的資產淨值 財政年終結日 : 12 月 31 日 最低投資額 : A A1 和 D 股份類別 : 首次投資 -1,000 歐元或 1,000 美元 ( 或其等值 ); 額外 認購 -1,000 歐元或 1,000 美元 ( 或其等值 ) * 全年經常性開支比率是根據截至 2018 年 12 月 31 日的年度費用計算, 每年均可能有所變動 註 : 截至本文件日期, 本基金的 D 類股份並不向香港公眾發售 本基金是什麼產品? 基金為施羅德環球基金系列旗下的一項子基金, 施羅德環球基金系列以互惠基金形式在盧森堡成立, 監管機構為盧森 堡金融業管理局 (Commission de Surveillance du Secteur Financier) 1

5 施羅德環球基金系列 - 新興歐洲 目標及投資策略投資目標基金旨在通過投資於歐洲中部及東部的公司的股本和股本相關證券, 以提供資本增值 投資政策基金將最少三分之二的資產投資於歐洲中部及東部 ( 包括前蘇聯市場及地中海新興市場 ) 的公司的股本和股本相關證券 基金亦可投資於北非及中東公司的股本和股本相關證券 本公司通常持有 30 至 50 間公司 基金的管理參考重要的環境 社會及管治因素 意指在評估公司時或會考慮到能夠影響公司價值的議題, 如氣候變化 環境表現 勞工準則或董事會架構 基金可投資於任何歐洲中部及東部國家或行業的資產淨值的有關部分並不受任何限制 基金對於其可投資的公司的市值不受任何限制 基金亦可投資於貨幣市場工具和持有現金 在特殊情況下 ( 例如 : 股災或重大危機 ), 基金可暫時將其最多 100% 的資產淨值投資於諸如銀行存款 存款證 商業票據及國庫券等流動資產作現金流管理 金融衍生工具的運用基金可為達致投資增益 減低風險或更有效地管理基金而運用金融衍生工具, 例如透過股票 貨幣 波動性或指數相關金融衍生工具, 包括場外交易及 / 或交易所買賣的期權 期貨 差價合約 認股證 掉期 遠期合約, 及 / 或以上組合, 運用金融衍生工具投資於市場 然而, 基金無意為投資目的而大量運用金融衍生工具 本基金有哪些主要風險? 投資涉及風險 請參閱銷售文件, 了解風險因素等資料 1. 股票投資風險基金於股本證券的投資, 須承受股票市值可跌可升的風險 影響股價的因素很多, 例如投資情緒 政治環境和經濟環境的改變 發行商特定因素 區域性或環球性的經濟不穩 貨幣和利率的浮動 如股價下跌, 基金的資產淨值亦可能受負面影響 2. 新興和較落後市場基金可投資於新興和較落後市場 投資於新興和較落後市場涉及的風險較投資於已發展國家的證券為高, 例如擁有權及保管權風險 政治和經濟風險 市場及結算風險 流動性及波動風險 法律及監管風險 執行及交易對手方風險及貨幣風險 基金的每股資產淨值亦可能負面地受影響, 投資者繼而蒙受損失 2

6 施羅德環球基金系列 - 新興歐洲 3. 投資於歐洲的風險基金可投資於證券, 包括大量投資於歐洲證券 鑑於某些歐洲國家現時的財務狀況和對主權債務的關注, 如歐洲地區發生任何負面的信貸事件, 例如主權國家的信貸評級調低或歐盟成員國退出歐元區, 基金可能承受更高的波動性 流動性 價格 違約和貨幣風險 縱使歐洲國家政府已採取措施處理這些問題, 然而這些措施可能無效, 並負面地影響基金於歐洲證券的投資價值 如這些歐洲地區的負面經濟或財務事件持續, 或會更加不利全球其他地方的經濟和財務市場, 繼而影響基金的投資價值 4. 金融衍生工具基金可投資於金融衍生工具以達致特定投資目標 不保證該等金融衍生工具的表現會為該基金帶來正面影響 投資於金融衍生工具或須承受高度的資本虧損風險 涉及金融衍生工具的風險包括信貸風險和對手方風險 流動性風險 估值風險 波動性風險 場外交易市場交易風險, 以及對沖風險 金融衍生工具的槓桿元素 / 成份可導致虧損顯著多於基金投資於金融衍生工具的金額 基金不保證市場能提供理想的對沖工具, 或對沖技術可以達到預期效果 在不利的情況下, 基金使用的對沖工具可能無效, 並可能因而蒙受重大虧損 5. 集中地理地區 基金投資於集中地理地區或會承受較投資於採用較多元化的投資組合 策略的基金為高的風險 基金的價值可能較容易受影響著相關地理地區的不利經濟 政治 政策 外匯 流動性 稅務 法律或監管事件所影響 6. 小型公司風險 相對其他基金, 投資於小型公司的基金價值波動可能較大, 以及可能比投資於大型公司更容易受不利發展所影響 在跌市時, 小型公司的證券會變得流動性較低, 價格可於短期內大幅波動, 且買賣差價大 7. 有關派息的風險 - 就採取一般派息政策的收息股份類別而言, 支出將從資本 ( 非收入 ) 中支付, 可分派收入因此而增加, 而增加的部份可被視為從資本中支付的股息 資本增長將減慢, 在低資本增長時期或會出現資本侵蝕 - 採取固定派息政策的收息股份類別將基於一個固定金額或每股資產淨值的一個固定百分比派息 因此, 派發固定股息之股份類別, 其股息款項可能同時由收入及資本中支付, 或未必將股份類別賺到的大部份投資收入完全派發 - 閣下應注意從資本中支付的派息, 即相當於從閣下原本投資的金額中, 或從該等金額賺取的任何資本收益中退回或提取部份款項, 所以, 該等派息可能導致每股資產淨值即時下跌 3

7 施羅德環球基金系列 - 新興歐洲 8. 貨幣風險資產和股份類別可以歐元以外的貨幣為計算單位, 部分或會不能自由兌換 基金可能因持有證券的貨幣 股份類別參考貨幣和歐元之間的匯率變動及匯率控制而遭受不利影響, 使基金所有股份類別承受匯率浮動和貨幣風險 對於對沖該等外匯 / 貨幣風險, 基金或會難以或未能作出 本基金過往的業績表現如何? 100% 80% 60% 40% 20% 0% -20% -40% -60% -80% 86.8% 35.3% 27.1% 28.2% 11.6% 1.1% 1.5% % -18.5% -6.4% 註 - 往績並非預測日後業績表現的指標 投資者未必能取回全部投資本金 - 基金業績表現以歷年末的資產淨值作為比較基礎, 股息會滾存再作投資 - 上述數據顯示基金的 A 類別 ( 歐元累積 ) 總值在有關曆年內的升跌幅度 業績表現以歐元計算, 當中反映出基金的持續費用, 但不包括基金可能向閣下收取的認購費及贖回費 - 基金發行日 : A 類別 ( 歐元累積 ) 發行日 : 管理公司視 A 類別 ( 歐元累積 )( 即以基金的基本貨幣計值的零售股份類別 ) 為基金的最適合代表股份類別 註 : 這些年度的業績表現乃在不再適用的情況下取得的 在這些年度, 基金出現重大變更, 即費用下調 本基金有否提供保證? 本基金並不提供任何保證 閣下未必能取回投資本金 4

8 施羅德環球基金系列 - 新興歐洲 投資本基金涉及哪些費用及收費? 閣下或須繳付的收費 基金股份交易或須繳付以下費用 費用 金額 股份類別 A A1 D 認購費 ( 首次認購費 ) 以認購總金額之 5.00% 為上限 以認購總金額之 4.00% 為上限 無 轉換費不多於轉換股份價值的 1.00% 贖回費 無 基金持續繳付的費用 以下收費將從基金總值中扣除, 閣下的投資回報將會因而減少 每年收費率 ( 佔基金總值百分比 ) 股份類別 * A A1 D 管理費 1.50% 1.50% 1.50% 存管費不多於 0.005% 業績表現費 ( 表現費 ) 無 行政費不多於 0.25% 分銷費無 0.50% 1.00% 保管服務費不多於 0.3% 交易費用 ( 由存管處徵收 ) 每宗交易不多於 75 美元 會計及估值服務費不多於 % * 如發售貨幣對沖股份類別, 年率最高達每股資產淨值 0.03% 的對沖費將由招致有關費用的貨幣對沖股份類別承擔 對沖費將支付給提供貨幣對沖服務的管理公司 註 : 截至本文件日期, 本基金的 D 類股份並不向香港公眾發售 其他費用 閣下進行基金股份交易或須繳付其他費用 有關由基金繳付的費用, 請參閱銷售文件 5

9 施羅德環球基金系列 - 新興歐洲 其他資料 - 施羅德投資管理 ( 香港 ) 有限公司在基金每個交易日交易截止時間 ( 即香港時間下午 5 時正 ) 或之前直接或經配售商收妥的認購或贖回要求, 一般按隨後釐定的基金相關資產淨值執行 閣下作出認購或贖回指示前, 請向閣下的配售商查問其內部的交易截止時間, 因其交易截止時間可能會較基金的為早 - 列載所有可供認購之收息股份類別的派息次數和計算股息基準的股息一覽表, 以及採取 (i) 不固定派息政策或 (ii) 固定派息政策並從資本中支付股息之各收息股份類別過去 12 個月的股息成份 ( 即從資本和可分派淨收入支付派息的百份比 ), 可向施羅德投資管理 ( 香港 ) 有限公司索取及瀏覽施羅德網站 ( - 供香港投資者認購的其他股份類別的業績表現上載至網站 - 基金在每一交易日計算基金資產淨值及刊登股份價格, 並上載至網站 該網站未經證監會審閱 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

10 Schroder Investment Management (Europe) S.A. 5, rue Höhenhof, L-1736 Senningerberg Grand Duchy of Luxembourg IMPORTANT: This letter is important and requires your immediate attention. If you have any questions about the content of this letter, you should seek independent professional advice. Schroder Investment Management (Europe) S.A., as the Management Company of the fund(s) in which you are invested, accepts full responsibility for the accuracy of the information contained in this letter 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. 17 June 2019 Dear Shareholder, Important changes to our fund administration activities We recently carried out a comprehensive review of fund administration across the Schroders group, specifically in relation to the management of transfer agency ( TA ) activities. This resulted in a decision to delegate our fund administration activities to HSBC. HSBC has been a strategic partner of Schroders for several years, providing a range of other fund services. This decision will extend our partnership with HSBC across our fund administration services globally. The aim is to increase consistency in how we manage our services, which will ultimately add further value to our clients. The delegation of TA activities by Schroder Investment Management (Europe) S.A. ( SIM EU ), the management company of the fund(s) in which you are invested, to HSBC France, Luxembourg Branch, will take effect from 1 July The delegation of TA activities does not affect the investment management of the funds, their fee structure or your ownership of units, therefore the purpose of this letter is informational only. You are not required to take any action in response to this letter. The costs of making this change, including regulatory and shareholder communication costs, will not be borne by investors. The contact details you use are unchanged. There will be no other changes to existing communication or electronic trading channels due to this change. If you have any questions or would like more information, please contact your usual professional advisor or Schroder Investment Management (Hong Kong) Limited at Level 33, Two Pacific Place, 88 Queensway, Hong Kong or calling the Schroders Investor Hotline on (+852) Yours faithfully, Nirosha Jayawardana Authorised Signatory Chris Burkhardt Authorised Signatory R.C.S. Luxembourg B For your security telephone conversations may be recorded

11 PRODUCT KEY FACTS Schroder International Selection Fund Emerging Europe Issuer: Schroder Investment Management (Europe) S.A. April 2019 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 Management company: Investment manager: Depositary: Schroder Investment Management (Europe) S.A. Schroder Investment Management Limited, located in the United Kingdom, internal delegation J.P. Morgan Bank Luxembourg S.A. Ongoing charges over a year*: Class A EUR Acc 1.89% Class A GBP Dis AV 1.89% Class A EUR Dis AV 1.89% Class A1 USD Acc 2.39% Class A1 EUR Acc 2.39% Dealing frequency: Base currency: Dividend policy: Daily EUR A, A1 and D Accumulation share classes Dividend will not be distributed but will be reinvested into the fund. A, A1 and D Distribution share classes The board of directors generally has discretion as to whether or not to make any distribution. The distribution frequency is indicated in the share class designation as follows: M = monthly, Q = quarterly, S = semi-annual, A = annual Distributions may be paid out of capital and reduce the fund s net asset value. Financial year end of this fund: 31 December Minimum investment: A, A1 and D share classes: Initial EUR1,000 or USD1,000 (or equivalent); Subsequent investment EUR1,000 or USD1,000 (or equivalent) * The ongoing charges figure is based on the expenses for the year ended 31 December This figure may vary from year to year. Note: As of the date of this document, Class D shares of the fund are not being offered to the public in Hong Kong. What is this product? This is a sub-fund of Schroder International Selection Fund, a mutual fund domiciled in Luxembourg and its home regulator is Commission de Surveillance du Secteur Financier. 1

12 Schroder International Selection Fund Emerging Europe Objectives and investment strategy Investment Objective The fund aims to provide capital growth by investing in equity and equity related securities of Central and Eastern European companies. Investment Policy The fund invests at least two-thirds of its assets in equity and equity related securities of Central and Eastern European companies including the markets of the former Soviet Union and the Mediterranean emerging markets. The fund may also invest in equity and equity related securities of Northern Africa and the Middle East. The fund typically holds companies. The fund is managed with reference to material environmental, social and governance factors. This means issues such as climate change, environmental performance, labour standards or board composition that could impact a company s value may be considered in the assessment of companies. The fund is not subject to any limitation on the portion of its net asset value that may be invested in any country in Central and Eastern Europe or sector. The fund is not subject to any limitation on the market capitalisation of the companies that it may invest in. The fund may also invest in money market instruments and hold cash. Under exceptional circumstances (e.g. market crash or major crisis), the fund may be invested temporarily up to 100% of its net asset value in liquid assets such as bank deposits, certificates of deposit, commercial paper and treasury bills for cash flow management. Use of financial derivative instruments ( FDI ) The fund may use FDI with the aim of achieving investment gains, reducing risk or managing the fund more efficiently. FDI can be used for instance to create market exposures through equity, currency, volatility or index related financial derivative instruments and include over-the-counter and/or exchange traded options, futures, contracts for difference, warrants, swaps, forward contracts and/or a combination of the above. However, the fund does not intend to use FDI extensively for investment purposes. What are the key risks? Investment involves risk. Please refer to the offering document for details including the risk factors. 1. Equity investment risk Investment in equity securities is subject to the risk that the market value of the stocks may go down as well as up due to numerous factors such as changes in investment sentiment, political environment, economic environment, issuer-specific factors, regional or global economic instability, currency and interest rate fluctuations. If the market value of the stocks go down the net asset value of the fund may be adversely affected. 2. Emerging and less developed markets The fund may invest in emerging and less developed markets. Investing in emerging and less developed markets is subject to greater risks than investing in securities of developed countries such as ownership and custody risks, political and economic risks, market and settlement risks, liquidity and volatility risk, legal and regulatory risks, execution and counterparty risk, and currency risk, which may adversely affect the net asset value per share of the fund and investors may as a result suffer losses. 2

13 Schroder International Selection Fund Emerging Europe 3. Risk of investment in Europe The fund may invest in securities which may include a substantial investment in European securities. In light of the current fiscal conditions and concerns on sovereign debt of certain European countries, the fund may be subject to an increased amount of volatility, liquidity, price, default and currency risk should there be any adverse credit events, such as credit downgrade of a sovereign or exit of EU members from the Eurozone, in the European region. Notwithstanding the governments of the European countries have adopted measures to address these problems, it is possible that these measures may not work and may adversely affect the value of the fund s investment in European securities. If these adverse economic or financial events in Europe continue, they could have additional unfavourable effects on the economies and financial markets of other parts of the world thereby affecting the value of the fund s investment. 4. FDI The fund may use FDI to meet its specific investment objective. There is no guarantee that the performance of FDI will result in a positive effect for the fund. FDI exposure may lead to a high risk of significant capital loss. Risks associated with FDI include credit risk and counterparty risk, liquidity risk, valuation risk, volatility risk, over-the-counter transaction risks and hedging risk. The leverage element/component of an FDI can result in a loss significantly greater than the amount invested in the FDI by the fund. There is no guarantee that the desired hedging instruments will be available or hedging techniques will achieve their desired result. In adverse situations, the use of hedging instruments may become ineffective in hedging and the fund may suffer significant losses. 5. Concentrated geographical locations The fund investing in concentrated geographical locations may be subject to a higher level of risks comparing to a fund investing in a more diversified portfolio/strategy. The value of the fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the relevant geographical locations. 6. Smaller companies risk Fund invests in smaller companies may fluctuate in value more than other funds and may be more vulnerable to adverse developments than those in larger companies. During periods where markets are falling, securities of smaller companies may become less liquid and experience short-term price volatility and wide spreads between dealing prices. 7. Risks relating to distributions For distribution share classes with a general dividend policy, expenses will be paid out of capital rather than out of gross income. The amount of distributable income therefore increases and the amount so increased may be considered to be dividend paid out of capital; capital growth will be reduced and in periods of low growth capital erosion may occur. Distribution share classes with a fixed dividend policy will distribute the dividends based on a fixed amount or fixed percentage of the net asset value per share. This may result in share classes with fixed distributions either paying out both income and capital in distribution payments, or not substantially distributing all the investment income which a share class has earned. You should note that in the circumstances where the payment of distributions are paid out of capital, this represents and amounts to a return or withdrawal of part of the amount you originally invested or capital gains attributable to that and may result in an immediate decrease in the net asset value of shares. 3

14 Schroder International Selection Fund Emerging Europe 8. Currency risks Assets and share classes may be denominated in currencies other than EUR and some may not be freely convertible. The fund may be adversely affected by changes in foreign exchange rates and exchange rate controls of the currencies in which securities are held, the reference currencies of the share classes and the EURO. This exposes all share classes of the fund to exchange rate fluctuations and currency risk. It may not be practicable or possible to hedge against such foreign exchange/currency risk exposure. How has the fund performed? 100% 80% 60% 40% 20% 0% -20% -40% -60% -80% 86.8% 35.3% 27.1% 28.2% 11.6% 1.1% 1.5% % -18.5% -6.4% Note Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested. These figures show by how much the fund s Class A EUR Accumulation 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. Fund launch date: 2000 Class A EUR Accumulation launch date: 2000 The management company views the Class A EUR Accumulation, being the retail share class denominated in the base currency of the fund, as the most appropriate representative share class of the fund. Note: The performance of these years was achieved under circumstances that no longer apply. During these years, there was material change(s) to the fund, namely, reduction of fee(s). Is there any guarantee? This fund does not have any guarantees. You may not get back the full amount of money you invest. 4

15 Schroder International Selection Fund Emerging Europe 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 shares of the fund. Fee What you pay Share class A A1 D Subscription fee (Initial charge) Up to 5.00% of the total subscription amount Up to 4.00% of the total subscription amount Nil Switching fee (Switching charge) Redemption fee (Redemption charge) Up to 1.00% of the value of the shares to be switched Nil 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 investments. Annual rate (as a % of the fund s value) Share class* A A1 D Management fee 1.50% 1.50% 1.50% Depositary fee Up to 0.005% Performance fee Nil Administration fee Up to 0.25% Distribution charge Nil 0.50% 1.00% Custody safekeeping fee Up to 0.3% Transaction fees (charged by the Depositary) Up to USD75 per transaction Fund accounting and valuation fees Up to % * Where currency hedged share class is offered, a hedging charge of up to 0.03% per annum of the net asset value per share will be borne by the currency hedged share class in relation to which the charge is incurred. The hedging charge will be payable to the management company, which provides the currency hedging service. Note: As of the date of this document, Class D shares of the fund are not being offered to the public in Hong Kong. Other fees You may have to pay other fees when dealing in the shares of the fund. Please refer to the offering document for fees payable by the fund. 5

16 Schroder International Selection Fund Emerging Europe Additional information You generally buy and redeem shares at the fund s relevant net asset value ( NAV ) after Schroder Investment Management (Hong Kong) Limited receives your request, directly or via a distributor, in good order at or before 5pm HK time, being the fund s dealing cut-off time on each dealing day of the fund. Before placing your subscription or redemption orders, please check with your distributor for the distributor s internal dealing cut-off time (which may be earlier than the fund s dealing cut-off time). A dividend calendar including details on the distribution frequency and the dividend calculation basis for all available distribution share classes and a composition of the dividend payments (i.e. the percentages of distribution being paid out of capital and net distributable income) for the last twelve months for each of these distribution share classes (i) with a variable distribution policy or (ii) with a fixed dividend policy and paying dividends out of capital are also available from the Schroder Investment Management (Hong Kong) Limited on request and from the Schroders Internet site ( Past performance information of other share classes offered to Hong Kong investors is available online at The net asset value of this fund is calculated and the price of shares is published on each dealing day. They are available online at This 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