_BOCI ETF_IR2018_CoverC3

Transcription

1 Interim Report As of 29 June 2018 ETFs World Index Shares ETFs Fund Manager and Interim Report Issuer BOCI-Prudential Asset Management

2 , W.I.S.E.-CSI HK 100 TRACKER TM and W.I.S.E.-SSE 50 CHINA TRACKER (Sub-Funds of World Index Shares ETFs) TM 50 ETFs CONTENTS PAGE(S) MANAGEMENT AND ADMINISTRATION 1 REPORT OF THE MANAGER TO THE UNITHOLDERS 2 STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED) 10 STATEMENTS OF FINANCIAL POSITION UNAUDITED) 13 STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS (UNAUDITED) 16 STATEMENTS OF CASH FLOWS (UNAUDITED) INVESTMENT PORTFOLIO (UNAUDITED) 22 STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) 36 PERFORMANCE TABLE (UNAUDITED) 70 W.I.S.E.-CSI HK 100 TRACKER TM 100 TM INVESTMENT PORTFOLIO (UNAUDITED) 71 STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) 75 PERFORMANCE TABLE (UNAUDITED) 80 W.I.S.E.-SSE 50 CHINA TRACKER 50 INVESTMENT PORTFOLIO (UNAUDITED) 81 STATEMENT OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) 84 PERFORMANCE TABLE (UNAUDITED) 88

3 , W.I.S.E.-CSI HK 100 TRACKER TM and W.I.S.E.-SSE 50 CHINA TRACKER (Sub-Funds of World Index Shares ETFs) TM 50 ETFs MANAGEMENT AND ADMINISTRATION MANAGER AND LISTING AGENT BOCI-Prudential Asset Management Limited 27/F, Bank of China Tower 1 Garden Road Central Hong Kong DIRECTORS OF THE MANAGER AND LISTING AGENT Wang Zhongze Lee Yui Leung Tse Yung Hoi Guy Robert Strapp Julian Christopher Vivian Pull TRUSTEE AND CUSTODIAN BOCI-Prudential Trustee Limited 12/F & 25/F, CITICorp Centre 18 Whitfield Road Causeway Bay Hong Kong Standard Chartered Bank (China) Limited 28/F, Standard Chartered Tower 201, Century Avenue Pudong Shanghai China REGISTRAR Computershare Hong Kong Investor Services Limited 46/F, Hopewell Centre 183 Queen s Road East Wanchai Hong Kong CONVERSION AND SERVICE AGENT HK Conversion Agency Services Limited 10/F, One International Finance Centre 1 Harbour View Street Central Hong Kong LEGAL ADVISER TO THE MANAGER Baker & McKenzie 23/F, One Pacific Place 88 Queensway Hong Kong AUDITOR Ernst & Young 22nd Floor, CITIC Tower 1 Tim Mei Avenue Central Hong Kong 1 27 Guy Robert Strapp Julian Christopher Vivian Pull

4 REPORT OF THE MANAGER TO THE UNITHOLDERS OF (SUB-FUND OF WORLD INDEX SHARES ETFs) Fund Performance The W.I.S.E.-CSI 300 China Tracker ( WISE-CSI300 or the Sub-Fund ) is an index-tracking exchange traded fund which seeks to track the performance of the CSI 300 Index (the Underlying Index or CSI300 ). As of 28 June 2018, the net asset value ( NAV ) per unit of the Sub-Fund was with a total of 62,400,000 units outstanding and total assets under management ( AUM ) of 2,032,500,297. The WISE-CSI300 adopts a representative sampling strategy. A summary of the performance of the WISE- CSI300 is shown below. 300 ETFs ,400,000 AUM 2,032,500, Since Inception Total Return (a) YTD (Annualized) (f) (a) (f) CSI 300 (RMB) (b) % 23.99% -9.47% 7.04% 55.61% -5.33% 0.60% 300 (b) CSI 300 () (c) % 33.35% % 2.13% 51.95% -2.55% 1.86% 300 (c) WISE-CSI300 NAV-to-NAV (d) % 30.09% % 2.13% 40.27% -8.24% -1.44% 300 (d) WISE-CSI300 Market-to-Market (e) -9.07% 33.56% % 2.80% 28.29% % -0.77% 300 (e) as of 28 June 2018 (last dealing date of June, 2018) Past performance figures shown are not indicative of the future performance of the Sub-Fund. Starting from 1 July 2014, CSI 300 Total Return Index is replaced with CSI 300 Net Total Return Index for index performance calculation. CSI 300 Net Total Return Index is denominated in RMB. For the purpose of performance comparison, index performance is presented in and calculated by referring to the foreign exchange rates for RMB / quoted by Bloomberg Bloomberg RMB (CNY) rate (Tokyo Composite) at 4:00 p.m. Hong Kong time on the corresponding dealing dates (CNY) (a) (b) (c) (d) (e) (f) Total returns represent the rate that an investor would have earned (or lost) on an investment, assuming reinvestment of all dividends and distributions. The index performance in RMB calculated on a total return basis reflects returns due to both price changes and dividend income. An investor cannot invest directly in an index and the index performance returns do not reflect management fees, transaction costs or other expenses, which would reduce performance returns of the Sub-Fund. The index performance in calculated on a total return basis reflects returns due to both price changes and dividend income. An investor cannot invest directly in an index and the index performance returns do not reflect management fees, transaction costs or other expenses, which would reduce performance returns of the Sub-Fund. The Sub-Fund performance is calculated in on NAV-to-NAV basis with gross distribution reinvested. Units in the Sub-Fund are issued and redeemed at NAV. Market returns are calculated in using historical market closing prices, and do not represent the returns you would receive if you traded units at other times. This is the annualized return since the Sub-Fund inception. The Sub-Fund inception date is 13 July (a) (b) (c) (d) (e) (f) Source: BOCI-Prudential Asset Management Ltd., China Securities Index Co., Ltd. and Bloomberg 2

5 REPORT OF THE MANAGER (continued) TO THE UNITHOLDERS OF (SUB-FUND OF WORLD INDEX SHARES ETFs) (continued) 300 ETFs Fund Activities As of 28 June 2018, there were 62,400,000 units outstanding in the Sub-Fund and the Sub-Fund had exposure to 274 stocks. 62,400, On 8 February 2018, the Manager announced that the requirement to obtain collateral in relation to the Sub-Fund has been removed. Moreover, the Manager has applied for and has been granted approval by the SFC to remove the Synthetic Fund Name Condition and the removal of such Synthetic Fund Name Condition has taken effect from 28 December The Sub-Fund s current holding in physical A Shares has increased to and will be maintained at more than 90% of its Net Asset Value on an ongoing basis. The Sub-Fund currently does not invest in AXPs. A 90% AXP On 30 April 2018, the Manager announced that with effect from 1 May 2018, there was a change in the composition of the board of directors of the Manager. The details were shown in the addendum to the Prospectus. On 13 June 2018, the Manager announced that with effect from 13 July 2018, there was a change in distribution policy of the Sub-Fund and changes to the offering documents of the Sub-Fund and Trust Deed of the World Index Shares ETFs. ETFs The distribution policy of the Sub-Fund was revised so that although distributions will normally be paid out of net income, in the event that net income is insufficient to pay distributions, the Manager may determine in its absolute discretion that distributions be paid out of capital. The reason for the change in distribution policy is to offer greater flexibility to the Manager in making distributions for the Sub-Fund. Please refer to the relevant announcements published on the Manager s website 1 ( for details. 1 ( 1 The Manager s website has not been reviewed by the SFC. 1 3

6 REPORT OF THE MANAGER (continued) TO THE UNITHOLDERS OF (SUB-FUND OF WORLD INDEX SHARES ETFs) (continued) 300 ETFs Index Activities The CSI 300 Index underwent one regular semi-annual review in the first half of The details of the index changes are summarized in Figure Please refer to the relevant announcements published on the CSI web-site ( for details. ( Figure 1 1 Deletion Addition Effective Date Stock Code Stock Name Stock Code Stock Name 11-Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun China High-Speed Railway Technology Co., Ltd Northeast Securities Co., Ltd AECC Aero-Engine Control Co., Ltd Sealand Securities Co., Ltd Youzu Interactive Co.,Ltd Alpha Group Guizhou Bailing Group Pharmaceutical Co., Ltd Suzhou Victory Precision Manufacture Co.,Ltd Guangzhou Haige Communications Group Incorporated Company ShenZhen Yuto Packaging Technology Co., Ltd Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd Guangzhou Shiyuan Electronic Technology Company Limited Ourpalm Co., Ltd Shanghai Electric Power Company Limited Beijing New Building Materials Public Limited Company China Merchants Expressway Network Technology Co., Ltd Zhejiang Sanhua Intelligent Controls Co., Ltd Zhejiang Wanfeng Auto Wheel Co., Ltd Rongsheng Petrochemical Co., Ltd Kuang-Chi Technologies Co., Ltd Xiamen Intretech Inc Chaozhou Three-Circle (Group) Co., Ltd Lens Technology Co., Ltd Huaneng Lancang River Hydropower Inc China Jushi Co.,Ltd China Petroleum Engineering Co., Ltd Hengli Petrochemical Co., Ltd HLA Corp., Ltd. 4

7 REPORT OF THE MANAGER (continued) TO THE UNITHOLDERS OF (SUB-FUND OF WORLD INDEX SHARES ETFs) (continued) 300 ETFs Index Activities (continued) Figure 1 (continued) 1 Deletion Addition Effective Date Stock Code Stock Name Stock Code Stock Name 11-Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jun Jiangsu Protruly Vision Techonology Group Co., Ltd Beijing Xinwei Technology Group Co., Ltd Shanghai SMI Holding Co., Ltd CSSC Offshore & Marine Engineering (Group) Company Limited Shanghai Bailian Group Co., Ltd Sinopec Oilfield Service Corporation Shanghai Zhangjiang Hi-Tech Park Development Co.,Ltd China Hainan Rubber Industry Group Co.,LTD Triangle Tyre Co., Ltd Central China Securities Co., Ltd CITIC Heavy Industries Co., Ltd China Merchants Energy Shipping Co., Ltd Shandong Linglong Tyre Co.,Ltd Tongwei Co., Ltd Hengtong Optic-Electric Co.,Ltd FangDa Carbon New Material Co.,Ltd Shanxi Xinghuacun Fen Wine Factory Co., Ltd Tonghua Dongbao Pharmaceutical Co., Ltd Caitong Securities Co., Ltd Guangzhou Automobile Group Co., Ltd Security Technology Inc China Oilfield Services Limited Red Star Macalline Group Corporation Ltd Bank of Chengdu Co., Ltd Hoshine Silicon Industry Co., Ltd Foshan Haitian Flavouring and Food Company Ltd. Source: China Securities Index Co., Ltd., Shanghai Stock Exchange and Shenzhen Stock Exchange 5

8 REPORT OF THE MANAGER (continued) TO THE UNITHOLDERS OF W.I.S.E.-CSI HK 100 TRACKER TM (SUB-FUND OF WORLD INDEX SHARES ETFs) 100 TM ETFs Fund Performance The W.I.S.E.-CSI HK 100 Tracker TM ( WISE-CSIHK100 or the Sub-Fund ) is an index-tracking exchange traded fund which seeks to track the performance of the CSI Hong Kong 100 Index (the Underlying Index or CSIHK100 ). As of 29 June 2018, the net asset value ( NAV ) per unit of the Sub-Fund was with a total of 40,567,500 units outstanding and total assets under management ( AUM ) of 1,057,382, TM ,567,500AUM 1,057,382,151 The WISE-CSIHK100 adopts a representative sampling strategy, and invests in a representative sample of the index securities of the Underlying Index. A summary of the performance of the WISE-CSIHK100 is shown below Total Return (a) in YTD Since Inception (Annualized) (e) (a) (e) CSIHK100 (b) -2.09% 44.02% 4.39% -5.78% 5.31% 6.61% 4.88% 100 (b) WISE-CSIHK100 NAV-to-NAV (c) -2.48% 42.52% 2.09% -6.38% 4.44% 4.55% 3.70% 100 (c) WISE-CSIHK100 Market-to-Market (d) -3.54% 41.39% 3.58% -7.42% 5.03% 3.31% 3.61% 100 (d) as of 29 June 2018 (last dealing date of June, 2018) Past performance figures shown are not indicative of the future performance of the Sub-Fund. (a) Total returns represent the rate that an investor would have (a) earned (or lost) on an investment, assuming reinvestment of all dividends and distributions. (b) The index performance calculated on a total return basis reflects (b) returns due to both price changes and dividend income. An investor cannot invest directly in an index and the index performance returns do not reflect management fees, transaction costs or other expenses, which would reduce performance returns of the Sub-Fund. (c) Units in the Sub-Fund are issued and redeemed at NAV. The Sub-Fund performance is calculated on NAV-to-NAV basis with (c) gross distribution reinvested. (d) Market returns are calculated using historical market closing (d) prices, and do not represent the returns you would receive if you traded units at other times. (e) This is the annualized return since the Sub-Fund inception. The (e) Sub-Fund inception date is 13 May Source: BOCI-Prudential Asset Management Ltd., China Securities Index Co., Ltd. and Bloomberg 6

9 REPORT OF THE MANAGER (continued) TO THE UNITHOLDERS OF W.I.S.E.-CSI HK 100 TRACKER TM (SUB-FUND OF WORLD INDEX SHARES ETFs) (continued) 100 TM ETFs Fund Activities As of 29 June 2018, there were 40,567,500 outstanding in the Sub-Fund and the Sub-Fund had exposure to 97 stocks. On 30 April 2018, the Manager announced that with effect from 1 May 2018, there was a change in the composition of the board of directors of the Manager. The details were shown in the third addendum to the Prospectus. On 13 June 2018, the Manager announced that with effect from 13 July 2018, there was a change in distribution policy of the Sub-Fund and changes to the offering documents of the Sub-Fund and Trust Deed of the World Index Shares ETFs. The distribution policy of the Sub-Fund was revised so that although distributions will normally be paid out of net income, in the event that net income is insufficient to pay distributions, the Manager may determine in its absolute discretion that distributions be paid out of capital. The reason for the change in distribution policy is to offer greater flexibility to the Manager in making distributions for the Sub-Fund. Please refer to the relevant announcements published on the Manager s website 1 ( for details. Index Activities The CSI HK 100 Index underwent one regular semi-annual review in the first half of The details of the index changes are summarized in Figure 1. Please refer to the relevant announcements published on the CSI web-site ( for details. Figure 1 Deletion 40,567,50097 ETFs 1 ( ( 1 Addition Effective Date Stock Code Stock Name Stock Code Stock Name 11-Jun HK Wheelock and Company Limited 0023.HK The Bank of East Asia, Limited 11-Jun HK Zall Group Ltd HK China Literature Limited 11-Jun HK Standard Chartered Plc 1378.HK China Hongqiao Group Limited Source: China Securities Index Co., Ltd. and HKEX 1 The Manager s website has not been reviewed by the SFC. 1 7

10 REPORT OF THE MANAGER (continued) TO THE UNITHOLDERS OF W.I.S.E.-SSE 50 CHINA TRACKER (SUB-FUND OF WORLD INDEX SHARES ETFs) 50 ETFs Fund Performance The W.I.S.E.-SSE 50 China Tracker ( WISE-SSE50 or the Sub-Fund ) is an index-tracking exchange traded fund which seeks to provide investment performance (before taxes) that tracks the performance of the SSE 50 Index (the Underlying Index or SSE50 ). As of 28 June 2018, the net asset value ( NAV ) per unit of the Sub-Fund was with a total of 4,000,000 units outstanding and total assets under management ( AUM ) of 92,997,457. The WISE-SSE50 adopts a representative sampling strategy. The Sub-Fund, at present, invests directly in A Shares via the Shanghai-Hong Kong Stock Connect. A summary of the performance of the WISE-SSE50 is shown below ,000,000 AUM 92,997, A50 Since Inception Total Return (a) YTD (Annualized) (f) (a) (f) SSE50 (RMB) (b) % 27.98% -3.01% -4.42% 69.34% % 5.44% 50 (b) SSE50 () (c) % 37.74% -9.35% -8.73% 65.23% -9.75% 5.95% 50 (c) WISE SSE50 NAV-to-NAV (d) % 35.55% -3.66% % 57.60% % 2.63% 50 (d) WISE SSE50 Market-to-Market (e) % 39.36% -6.85% -7.34% 52.10% % 2.69% 50 (e) as of 28 June 2018 (last dealing date of June, 2018) It was a synthetic ETF during 15 April 2009 to 11 May Please note that the investment strategy of the Sub-Fund has changed from synthetic replication to physical replication with effect from 12 May Past performance figures shown are not indicative of the future performance of the Sub-Fund. Starting from 1 July 2014, SSE 50 Total Return Index is replaced with SSE 50 Net Total Return Index for index performance calculation. SSE 50 Net Total Return Index is denominated in RMB. For the purpose of performance comparison, index performance is presented in and calculated by referring to the foreign exchange rates for RMB / quoted by Bloomberg Bloomberg RMB (CNY) rate (Tokyo Composite) at 3:00 p.m. Hong Kong time on the corresponding dealing dates. (a) Total returns represent the rate that an investor would have earned (or lost) on an investment, assuming reinvestment of all dividends and distributions. (b) The index performance in RMB calculated on a total return basis reflects returns due to both price changes and dividend income. An investor cannot invest directly in an index and the index performance returns do not reflect management fees, transaction costs or other expenses, which would reduce performance returns of the Sub-Fund. (c) The index performance in calculated on a total return basis reflects returns due to both price changes and dividend income. An investor cannot invest directly in an index and the index performance returns do not reflect management fees, transaction costs or other expenses, which would reduce performance returns of the Sub-Fund. (d) The Sub-Fund performance is calculated in on NAV-to-NAV basis with gross distribution reinvested. Units in the Sub-Fund are issued and redeemed at NAV. (e) Market returns are calculated in using historical market closing prices, and do not represent the returns you would receive if you traded units at other times. (f) This is the annualized return since the Sub-Fund inception. The Sub-Fund inception date is 9 April Source: BOCI-Prudential Asset Management Ltd., China Securities Index Co., Ltd. and Bloomberg (CNY) (a) (b) (c) (d) (e) (f) 8

11 REPORT OF THE MANAGER (continued) TO THE UNITHOLDERS OF W.I.S.E.-SSE 50 CHINA TRACKER (SUB-FUND OF WORLD INDEX SHARES ETFs) (continued) 50 ETFs Fund Activities As of 28 June 2018, there were 4,000,000 units outstanding in the Sub-Fund and the Sub-Fund had exposure to 48 stocks. On 30 April 2018, the Manager announced that with effect from 1 May 2018, there was a change in the composition of the board of directors of the Manager. The details were shown in the sixth addendum to the Prospectus. On 13 June 2018, the Manager announced that with effect from 13 July 2018, there was a change in distribution policy of the Sub-Fund and changes to the offering documents of the Sub-Fund and Trust Deed of the World Index Shares ETFs. The distribution policy of the Sub-Fund was revised so that although distributions will normally be paid out of net income, in the event that net income is insufficient to pay distributions, the Manager may determine in its absolute discretion that distributions be paid out of capital. The reason for the change in distribution policy is to offer greater flexibility to the Manager in making distributions for the Sub-Fund. Please refer to the relevant announcements published on the Manager s website 1 ( for details. Index Activities The SSE 50 Index underwent one regular semi-annual review in first half of The details of the index changes are summarized in Figure 1. Please refer to the corresponding announcements on the CSI web-site ( for details. Figure 1 Deletion 4,000,00048 ETFs 1 ( ( 1 Addition Effective Date Stock Code Stock Name Stock Code Stock Name 11-Jun Jun Jun Jun Jun Kangmei Pharmaceutical Co.,Ltd Haitong Securities Co., Ltd Bank of Jiangsu Co., Ltd Power Construction Corporation of China, Ltd (Powerchinaltd) China National Nuclear Power Co., Ltd Jiangsu Hengrui Medicine Co.,Ltd Anhui Conch Cement Company Limited Qingdao Haier Co.,Ltd Sanan Optoelectronics Co.,Ltd Security Technology Inc. Source: China Securities Index Co., Ltd. and Shanghai Stock Exchange 1 The Manager s website has not been reviewed by the SFC. 1 9

12 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED) FOR THE PERIOD FROM 1ST JANUARY 2018 TO 29TH JUNE 2018 W.I.S.E. CSI 300 China Tracker to # to # INCOME Dividend income 20,599,329 72,323,257 Interest income 13,980 30,165 Other income 32,085 4,142,925 20,645,394 76,496,347 EXPENSE Auditor s remuneration 61, ,191 Legal & professional fee 155,651 1,026,572 Maintenance fee Management fee 11,818,335 33,178,378 Trustee fee Custodian and bank charges 326, ,734 Transaction costs on investments 1,120,553 35,071,201 Transaction handling fee 135,113 1,069,581 Other expenses 104,337 5,845,009 13,721,908 77,277,666 NET PROFIT (LOSS) BEFORE INVESTMENT AND EXCHANGE GAIN (LOSS) 6,923,486 (781,319) NET INVESTMENT AND EXCHANGE GAIN (LOSS) Net exchange gain (loss) (322,902) (827,421) Realised gain (loss) on sale of investments 107,721, ,877,840 Unrealised appreciation (diminution) in value of investments (485,209,947) 617,770,179 PROFIT (LOSS) BEFORE TAX (370,888,135) 908,039,279 Tax (2,066,827) (7,543,832) PROFIT (LOSS) AND TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/ YEAR (372,954,962) 900,495,447 # 28 June 2018 is the last dealing day of June 2018 # 10

13 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED) (continued) FOR THE PERIOD FROM 1ST JANUARY 2018 TO 29TH JUNE 2018 (continued) W.I.S.E. CSI HK 100 Tracker TM 100 TM to to INCOME Dividend income 16,669,294 28,287,389 Interest income Other income 16,669,539 28,287,916 EXPENSE Auditor s remuneration Legal & professional fee 1,167 Maintenance fee Management fee 5,178,876 8,071,346 Trustee fee Custodian and bank charges Transaction costs on investments 281, ,205 Transaction handling fee 29,590 38,803 Other expenses 5,491,206 8,513,354 NET PROFIT (LOSS) BEFORE INVESTMENT AND EXCHANGE GAIN (LOSS) 11,178,333 19,774,562 NET INVESTMENT AND EXCHANGE GAIN (LOSS) Net exchange gain (loss) (10,969) 405 Realised gain (loss) on sale of investments 8,925,016 9,339,712 Unrealised appreciation (diminution) in value of investments (50,125,769) 249,454,333 PROFIT (LOSS) BEFORE TAX (30,033,389) 278,569,012 Tax (523,886) (1,282,338) PROFIT (LOSS) AND TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/ YEAR (30,557,275) 277,286,674 11

14 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED) (continued) FOR THE PERIOD FROM 1ST JANUARY 2018 TO 29TH JUNE 2018 (continued) W.I.S.E. SSE 50 China Tracker to # to # INCOME Dividend income 1,319,213 2,340,620 Interest income 224 1,699 Other income 1,319,437 2,342,319 EXPENSE Auditor s remuneration Legal & professional fee 1,167 4,090 Maintenance fee Management fee 480, ,395 Trustee fee Custodian and bank charges Transaction costs on investments 34,066 66,208 Transaction handling fee 16,500 19,800 Other expenses 532, ,493 NET PROFIT (LOSS) BEFORE INVESTMENT AND EXCHANGE GAIN (LOSS) 786,727 1,411,826 NET INVESTMENT AND EXCHANGE GAIN (LOSS) Net exchange gain (loss) (15,719) 76,528 Realised gain (loss) on sale of investments (892,637) (5,633,161) Unrealised appreciation (diminution) in value of investments (16,072,016) 33,311,814 PROFIT (LOSS) BEFORE TAX (16,193,645) 29,167,007 Tax (131,921) (238,789) PROFIT (LOSS) AND TOTAL COMPREHENSIVE INCOME FOR THE PERIOD/ YEAR (16,325,566) 28,928,218 # 28 June 2018 is the last dealing day of June 2018 # 12

15 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF FINANCIAL POSITION (UNAUDITED) AS AT 29TH JUNE 2018 W.I.S.E. CSI 300 China Tracker # # CURRENT ASSETS Investments 2,028,589,177 2,639,031,292 Prepayments 14,941 18,239 Depository reserve Dividends and other receivables 288,098 Amount due from broker Bank balances 6,094,016 6,142,677 Total current assets 2,034,698,134 2,645,480,306 CURRENT LIABILITIES Management fee payable 2,069,815 3,483,730 Trustee fee payable Distributions payable Tax payable Amounts payable on redemption Other accounts payable and accruals 128, ,917 Total current liabilities 2,197,837 3,900,647 Net current assets 2,032,500,297 2,641,579,659 Net assets attributable to unitholders 2,032,500,297 2,641,579,659 Units in issue 62,400,000 68,000,000 Net asset value per unit # 28 June 2018 is the last dealing day of June 2018 # 13

16 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF FINANCIAL POSITION (UNAUDITED) (continued) AS AT 29TH JUNE 2018 (continued) W.I.S.E. CSI HK 100 Tracker TM 100 TM CURRENT ASSETS Investments 1,042,785,967 1,003,044,462 Prepayments 13,996 17,351 Depository reserve Dividends and other receivables 5,647,150 32,735 Amount due from broker Bank balances 9,853,488 8,143,071 Total current assets 1,058,300,601 1,011,237,619 CURRENT LIABILITIES Management fee payable 906, ,383 Trustee fee payable Distributions payable 16,364,700 Tax payable Amounts payable on redemption Other accounts payable and accruals 11,576 5,276 Total current liabilities 918,450 17,246,359 Net current assets 1,057,382, ,991,260 Net assets attributable to unitholders 1,057,382, ,991,260 Units in issue 40,567,500 37,192,500 Net asset value per unit

17 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF FINANCIAL POSITION (UNAUDITED) (continued) AS AT 29TH JUNE 2018 (continued) W.I.S.E. SSE 50 China Tracker # # CURRENT ASSETS Investments 92,410, ,149,032 Prepayments 13,622 16,919 Depository reserve Dividends and other receivables Amount due from broker Bank balances 649,631 1,246,239 Total current assets 93,074, ,412,190 CURRENT LIABILITIES Management fee payable 72,805 85,267 Trustee fee payable Distributions payable 1,000,000 Tax payable Amounts payable on redemption Other accounts payable and accruals 3,900 3,900 Total current liabilities 76,705 1,089,167 Net current assets 92,997, ,323,023 Net assets attributable to unitholders 92,997, ,323,023 Units in issue 4,000,000 4,000,000 Net asset value per unit # 28 June 2018 is the last dealing day of June 2018 # 15

18 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS (UNAUDITED) FOR THE PERIOD FROM 1ST JANUARY 2018 TO 29TH JUNE 2018 W.I.S.E. CSI 300 China Tracker 300 Total Balance as at 1 January ,296,694,212 Total comprehensive income 900,495,447 Issue of units Redemption of units (1,555,610,000) Distributions Balance as at 31 December ,641,579,659 Balance as at 1 January ,641,579,659 Total comprehensive income (372,954,962) Issue of units 83,963,520 Redemption of units (320,087,920) Distributions Balance as at 28 June 2018 # # 2,032,500,297 Number of units in issue W.I.S.E. CSI 300 China Tracker to # to # Units Units Units in issue at the beginning of the period/year 68,000, ,400,000 Issue of units 2,400,000 Redemption of units (8,000,000) (42,400,000) Units in issue at the end of the period/year 62,400,000 68,000,000 # 28 June 2018 is the last dealing day of June 2018 # 16

19 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS (UNAUDITED) (continued) FOR THE PERIOD FROM 1ST JANUARY 2018 TO 29TH JUNE 2018 (continued) W.I.S.E. CSI HK 100 Tracker TM 100 TM Total Balance as at 1 January ,916,660 Total comprehensive income 277,286,674 Issue of units 149,295,049 Redemption of units (7,142,423) Distributions (16,364,700) Balance as at 31 December ,991,260 Balance as at 1 January ,991,260 Total comprehensive income (30,557,275) Issue of units 132,107,105 Redemption of units (38,158,939) Distributions Balance as at 29 June ,057,382,151 Number of units in issue W.I.S.E. CSI HK 100 Tracker TM 100 TM to to Units Units Units in issue at the beginning of the period/year 37,192,500 31,000,000 Issue of units 4,772,000 6,494,200 Redemption of units (1,397,000) (301,700) Units in issue at the end of the period/year 40,567,500 37,192,500 17

20 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS (UNAUDITED) (continued) FOR THE PERIOD FROM 1ST JANUARY 2018 TO 29TH JUNE 2018 (continued) W.I.S.E. SSE 50 China Tracker 50 Total Balance as at 1 January ,394,805 Profit (loss) for the year/period and total comprehensive income (expense) 28,928,218 Issue of units Redemption of units Distributions (1,000,000) Balance as at 31 December ,323,023 Balance as at 1 January ,323,023 Profit (loss) for the year/period and total comprehensive income (expense) (16,325,566) Issue of units Redemption of units Distributions Balance as at 28 June 2018 # # 92,997,457 Number of units in issue W.I.S.E. SSE 50 China Tracker to # to # Units Units Units in issue at the beginning of the period/year 4,000,000 4,000,000 Issue of units Redemption of units Units in issue at the end of the period/year 4,000,000 4,000,000 # 28 June 2018 is the last dealing day of June 2018 # 18

21 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF CASH FLOWS (UNAUDITED) FOR THE PERIOD ENDED 29TH JUNE 2018 W.I.S.E. CSI 300 China Tracker to # to # CASH FLOW FROM OPERATING ACTIVITIES Purchase of investments (591,009,113) (2,964,403,282) Sale of investments 515,754,954 2,993,212,978 Depositary reserve 492,054 Interest received 13,980 30,165 Other income received 320,183 3,854,828 Management fee paid (13,232,250) (34,021,937) Trustee fee paid Fund expenses paid (2,837,378) (50,027,353) Dividend received 20,599,329 72,323,257 Tax (paid) refund (2,066,827) (7,543,832) NET CASH (USED IN) FROM OPERATING ACTIVITIES (72,457,122) 13,916,878 CASH FLOW FROM FINANCING ACTIVITIES Proceeds (Payment) from issuance of units 83,907,528 Proceeds (Payment) for redemption of units (11,518,584) (76,394,624) Distributions paid NET CASH (USED IN) FROM FINANCING ACTIVITIES 72,388,944 (76,394,624) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (68,178) (62,477,746) EFFECT OF FOREIGN EXCHANGE RATE CHANGES 19,517 (827,421) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD/YEAR 6,142,677 69,447,844 CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD/YEAR, represented by Bank balances 6,094,016 6,142,677 # 28 June 2018 is the last dealing day of June 2018 # 19

22 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF CASH FLOWS (UNAUDITED) (continued) FOR THE PERIOD ENDED 29TH JUNE 2018 (continued) W.I.S.E. CSI HK 100 Tracker TM 100 TM to to CASH FLOW FROM OPERATING ACTIVITIES Purchase of investments (151,552,680) (215,501,480) Sale of investments 70,610,423 99,513,659 Depositary reserve Interest received Other income received Management fee paid (5,148,385) (7,721,457) Trustee fee paid Fund expenses paid (302,676) (496,099) Dividend received 11,054,879 26,972,316 Tax (paid) refund (523,886) NET CASH (USED IN) FROM OPERATING ACTIVITIES (75,862,080) (97,232,534) CASH FLOW FROM FINANCING ACTIVITIES Proceeds (Payment) from issuance of units 132,107, ,601,796 Proceeds (Payment) for redemption of units (38,158,939) (7,142,423) Distributions paid (16,364,700) (10,540,000) NET CASH (USED IN) FROM FINANCING ACTIVITIES 77,583,466 90,919,373 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,721,386 (6,313,161) EFFECT OF FOREIGN EXCHANGE RATE CHANGES (10,969) 405 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD/YEAR 8,143,071 14,455,827 CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD/YEAR, represented by Bank balances 9,853,488 8,143,071 20

23 Sub-Funds of World Index Shares ETFs ETFs STATEMENTS OF CASH FLOWS (UNAUDITED) (continued) FOR THE PERIOD ENDED 29TH JUNE 2018 (continued) W.I.S.E. SSE 50 China Tracker to # to # CASH FLOW FROM OPERATING ACTIVITIES Purchase of investments (15,569,988) (21,422,211) Sale of investments 15,343,458 20,762,010 Depositary reserve Interest received 224 1,699 Other income received Management fee paid (490,142) (819,870) Trustee fee paid Fund expenses paid (51,733) (90,998) Dividend received 1,319,213 2,340,620 Tax (paid) refund (131,921) (238,789) NET CASH (USED IN) FROM OPERATING ACTIVITIES 419, ,461 CASH FLOW FROM FINANCING ACTIVITIES Proceeds (Payment) from issuance of units Proceeds (Payment) for redemption of units Distributions paid (1,000,000) NET CASH (USED IN) FROM FINANCING ACTIVITIES (1,000,000) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (580,889) 532,461 EFFECT OF FOREIGN EXCHANGE RATE CHANGES (15,719) 76,528 CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD/YEAR 1,246, ,250 CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD/YEAR, represented by Bank balances 649,631 1,246,239 # 28 June 2018 is the last dealing day of June 2018 # 21

24 300 ETFs INVESTMENT PORTFOLIO (UNAUDITED) AS AT 28TH JUNE 2018 # # % of net asset value Securities name Fair value (%) Listed equities (Stock Connect) China AECC Aviation Power Co Ltd-A A 133,700 3,432, Agricultural Bank of China Ltd-A A 6,862,400 27,467, Aier Eye Hospital Group Co Ltd-A 158,793 5,942, A Air China Ltd-A A 324,300 3,341, Aisino Corp-A A 204,200 5,856, Aluminum Corp of China Ltd-A A 1,139,800 5,061, Angang Steel Co Ltd-A A 278,200 1,874, Anhui Conch Cement Co Ltd-A A 312,000 11,989, Anxin Trust Co Ltd-A A 273,000 2,334, AVIC Aircraft Co Ltd-A A 187,248 3,319, AVIC Capital Co Ltd-A A 780,143 4,240, AVIC Helicopter Co Ltd-A A 37,315 1,703, Bank of Beijing Co Ltd-A A 2,418,000 17,065, Bank of China Ltd-A A 3,651,700 15,351, Bank of Communications Co Ltd-A A 4,735,300 31,794, Bank of Guiyang Co Ltd-A A 195,000 2,805, Bank of Hangzhou Co Ltd-A A 99,852 1,285, Bank of Jiangsu Co Ltd-A A 1,193,539 8,960, Bank of Nanjing Co Ltd-A A 960,622 8,645, Bank of Ningbo Co Ltd-A A 439,449 8,399, Bank of Shanghai Co Ltd-A A 166,800 3,069, Baoshan Iron & Steel Co Ltd-A A 1,469,717 13,331, BBMG Corp-A A 544,600 2,057, Beijing Capital Development Co Ltd-A 210,130 1,694, A Beijing Dabeinong Technology Group Co Ltd-A 556,275 2,687, A Beijing New Building Materials Plc-A 101,400 2,122, A Beijing Orient Landscape & Environment Co Ltd-A A 180,000 3,203,

25 300 ETFs INVESTMENT PORTFOLIO (UNAUDITED) (continued) AS AT 28TH JUNE 2018 # # % of net asset value Securities name Fair value (%) Listed equities (Stock Connect) (continued) Beijing Originwater Technology Co Ltd-A 320,325 5,105, A Beijing Sanju Environmental Protection and New Material Co 146,288 4,031, Ltd-A A Beijing Tongrentang Co Ltd-A A 124,800 5,079, Beijing Xinwei Technology Group Co Ltd-A 94,900 1,639, A BOE Technology Group Co Ltd-A 3,244,500 13,101, A Bohai Capital Holding Co Ltd-A A 357,200 2,466, BYD Co Ltd-A A 148,200 8,072, Changjiang Securities Co Ltd-A A 975,000 6,130, Chaozhou Three-Circle Group Co Ltd-A 163,793 4,472, A China CITIC Bank Corp Ltd-A A 556,000 4,036, China Coal Energy Co Ltd-A A 278,200 1,564, China Communications Construction Co Ltd-A 292,850 3,908, A China Construction Bank Corp-A A 1,196,900 9,099, China Eastern Airlines Corp Ltd-A A 436,800 3,367, China Everbright Bank Co Ltd-A A 2,720,300 11,629, China Film Co Ltd-A A 93,725 1,755, China Fortune Land Development Co Ltd-A 202,993 6,019, A China Galaxy Securities Co Ltd-A A 101, , China Gezhouba Group Co Ltd-A 507,000 4,250, A China Grand Automotive Services Co Ltd-A 466,306 3,142, A China Hainan Rubber Industry Group Co Ltd-A 82, , A China International Travel Service Corp Ltd-A A 164,900 12,392,

26 300 ETFs INVESTMENT PORTFOLIO (UNAUDITED) (continued) AS AT 28TH JUNE 2018 # # % of net asset value Securities name Fair value (%) Listed equities (Stock Connect) (continued) China Jushi Co Ltd-A A 249,600 2,932, China Life Insurance Co Ltd-A A 312,000 8,205, China Merchants Bank Co Ltd-A A 1,757,054 53,765, China Merchants Securities Co Ltd-A A 569,400 8,947, China Merchants Shekou Industrial Zone Co Ltd-A 390,533 8,458, A China Minsheng Banking Corp Ltd-A 3,954,600 32,406, A China Molybdenum Co Ltd-A A 265,200 1,912, China National Chemical Engineering Co Ltd-A 366,600 2,843, A China National Nuclear Power Co Ltd-A 702,000 4,622, A China Northern Rare Earth Group High-Tech Co Ltd-A 153 2,031 - A China Nuclear Engineering Corp Ltd-A 93, , A China Pacific Insurance Group Co Ltd-A 546,000 20,056, A China Petroleum & Chemical Corp-A 1,864,200 14,216, A China Railway Construction Corp Ltd-A 711,916 7,106, A China Railway Group Ltd-A A 1,003,200 8,862, China Reform Health Management and Services Group Co Ltd-A 131,690 4,503, A China Shenhua Energy Co Ltd-A A 339,500 7,900, China Shipbuilding Industry Co Ltd-A 1,541,393 7,210, A China Shipbuilding Industry Group Power Co Ltd-A 137,360 2,797, A China Southern Airlines Co Ltd-A A 592,800 5,784, China Spacesat Co Ltd-A A 102,500 2,252,

27 300 ETFs INVESTMENT PORTFOLIO (UNAUDITED) (continued) AS AT 28TH JUNE 2018 # # % of net asset value Securities name Fair value (%) Listed equities (Stock Connect) (continued) China State Construction Engineering Corp Ltd-A 2,551,886 23,299, A China United Network Communications Ltd-A 1,557,900 8,873, A China Vanke Co Ltd-A A 819,000 23,160, China Yangtze Power Co Ltd-A A 1,084,200 20,709, Chinese Universe Publishing and Media Co Ltd-A 140,357 2,075, A Chongqing Changan Automobile Co Ltd-A 442,829 4,630, A Chongqing Zhifei Biological Products Co Ltd-A 76,300 3,884, A CITIC Securities Co Ltd-A A 1,349,200 25,835, COSCO Shipping Development Co Ltd-A 689,200 1,999, A COSCO Shipping Co Ltd-A 646,729 3,691, A CRRC Corp Ltd-A A 1,270,600 11,435, Daqin Railway Co Ltd-A A 1,026,957 9,826, Datang International Power Generation Co Ltd-A 447,567 1,584, A DHC Software Co Ltd-A A 277,416 2,674, Dong-E-E-Jiao Co Ltd-A A 112,302 7,015, Dongxing Securities Co Ltd-A 189,405 2,879, A Dongxu Optoelectronic Technology Co Ltd-A 342,300 2,403, A Dr Peng Telecom & Media Group Co Ltd-A 198,200 2,750, A East Money Information Co Ltd-A A 607,257 8,945, Everbright Securities Co Ltd-A A 351,713 4,481, Fangda Carbon New Material Co Ltd-A A 101,400 2,849,

28 300 ETFs INVESTMENT PORTFOLIO (UNAUDITED) (continued) AS AT 28TH JUNE 2018 # # % of net asset value Securities name Fair value (%) Listed equities (Stock Connect) (continued) Fiberhome Telecommunication Technologies Co Ltd-A 89,483 2,502, A Financial Street Co Ltd-A A 249,733 2,348, First Capital Securities Co Ltd-A A 326,900 2,578, Focus Media Information Technology Co Ltd-A 1,006,386 12,918, A Foshan Haitian Flavouring & Food Co Ltd-A 132,541 11,216, A Founder Securities Co Ltd-A A 702,000 5,461, Future Land Co Ltd-A A 140,810 4,703, Fuyao Glass Industry Group Co Ltd-A 271,452 8,184, A GD Power Development Co Ltd-A A 2,005,800 6,151, Gemdale Corp-A A 389,100 4,497, GF Securities Co Ltd-A A 553,347 8,544, Giant Network Group Co Ltd-A A 101,400 2,837, Goertek Inc-A A 322,914 3,762, Great Wall Motor Co Ltd-A A 224,600 2,585, Gree Electric Appliances Inc of Zhuhai-A 807,572 43,197, A Greenland Corp Ltd-A A 670,800 5,115, Guangshen Railway Co Ltd-A A 598,300 2,933, Guangzhou Baiyunshan Pharmaceutical Co Ltd-A 151,120 6,412, A Guosen Securities Co Ltd-A A 422,347 4,351, Guotai Junan Securities Co Ltd-A A 623,927 10,964, Guoxuan High-Tech Co Ltd-A A 97,886 1,606, Guoyuan Securities Co Ltd-A A 345,000 2,945, Hainan Airlines Holding Co Ltd-A A 2,141,950 8,172, Haitong Securities Co Ltd-A A 1,410,000 15,378, Hangzhou Hikvision Digital Technology Co Ltd-A A 631,600 26,723,

29 300 ETFs INVESTMENT PORTFOLIO (UNAUDITED) (continued) AS AT 28TH JUNE 2018 # # % of net asset value Securities name Fair value (%) Listed equities (Stock Connect) (continued) Hangzhou Robam Appliances Co Ltd-A 95,190 3,352, A Han s Laser Technology Industry Group Co Ltd-A 161,000 9,656, A Heilan Home Co Ltd-A A 304,111 4,461, Henan Shuanghui Investment & Development Co Ltd-A 234,774 7,050, A Hengli Petrochemical Co Ltd-A A 101,400 1,700, Hengtong Optic-Electric Co Ltd-A A 78,000 2,746, Hesteel Co Ltd-A A 710,600 2,448, Hithink Royalflush Information Network Co Ltd-A 39,000 1,729, A Huaan Securities Co Ltd-A A 179,400 1,189, Huadong Medicine Co Ltd-A 145,500 8,008, A Hualan Biological Engineering Inc-A 110,616 4,052, A Huaneng Power International Inc-A 725,400 5,377, A Huatai Securities Co Ltd-A A 631,800 10,728, Huaxia Bank Co Ltd-A A 1,142,160 10,144, Huayi Brothers Media Corp-A A 324,098 2,302, Huayu Automotive Systems Co Ltd-A 271,294 7,459, A Hubei Biocause Pharmaceutical Co Ltd-A 226,200 1,829, A Hundsun Technologies Inc-A A 62,307 3,657, Iflytek Co Ltd-A A 257,400 9,254, Industrial & Commercial Bank of China Ltd-A 3,504,054 21,535, A Industrial Bank Co Ltd-A A 2,144,765 36,141, Industrial Securities Co Ltd-A A 858,000 5,263,

30 300 ETFs INVESTMENT PORTFOLIO (UNAUDITED) (continued) AS AT 28TH JUNE 2018 # # % of net asset value Securities name Fair value (%) Listed equities (Stock Connect) (continued) Inner Mongolia Baotou Steel Union Co Ltd-A 2,753,400 4,956, A Inner Mongolia Junzheng Energy & Chemical Industry Group Co 509,700 1,979, Ltd-A A Inner Mongolia Yili Industrial Group Co Ltd-A 1,053,000 33,667, A Jiangsu Bicon Pharmaceutical Listed Co-A 75,054 2,518, A Jiangsu Broadcasting Cable Information Network Corp Ltd-A 269,669 1,577, A Jiangsu Hengrui Medicine Co Ltd-A 375,150 32,354, A Jiangsu Yanghe Brewery Joint-Stock Co Ltd-A 104,953 15,930, A Jiangsu Zhongnan Construction Group Co Ltd-A 202,953 1,446, A Jiangsu Zhongtian Technology Co Ltd-A 390,263 3,942, A Jiangxi Copper Co Ltd-A A 144,767 2,684, Jiangxi Ganfeng Lithium Co Ltd-A A 128,550 5,749, Jihua Group Corp Ltd-A A 228,400 1,068, Jilin Aodong Pharmaceutical Group Co Ltd-A 225,078 4,728, A Jinduicheng Molybdenum Co Ltd-A A 167,140 1,209, Kangde Xin Composite Material Group Co Ltd-A 386,608 7,819, A Kangmei Pharmaceutical Co Ltd-A A 492,440 13,138, Kingenta Ecological Engineering Group Co Ltd-A 172,500 1,376, A Kweichow Moutai Co Ltd-A A 85,865 72,291, Lens Technology Co Ltd-A A 77,928 1,778, Lepu Medical Technology Beijing Co Ltd-A A 187,200 7,696,

31 300 ETFs INVESTMENT PORTFOLIO (UNAUDITED) (continued) AS AT 28TH JUNE 2018 # # % of net asset value Securities name Fair value (%) Listed equities (Stock Connect) (continued) Liaoning Cheng Da Co Ltd-A A 132,750 2,380, Lomon Billions Group Co Ltd-A A 99,750 1,485, Longi Green Energy Technology Co Ltd-A 233,934 4,545, A Luxshare Precision Industry Co Ltd-A 268,100 6,756, A Luzhou Laojiao Co Ltd-A A 140,407 9,854, Meinian Onehealth Healthcare Co Ltd-A 236,986 6,081, A Metallurgical Corp of China Ltd-A A 1,041,168 4,044, Midea Group Co Ltd-A A 779,600 46,252, Muyuan Foodstuff Co Ltd-A A 63,500 3,262, Nanjing Xinjiekou Department Store Co Ltd-A 95,890 2,074, A Nari Technology Co Ltd-A A 469,520 8,784, New China Life Insurance Co Ltd-A 132,754 6,558, A New Hope Liuhe Co Ltd-A A 421,600 3,105, Ningbo Zhoushan Port Co Ltd-A A 624,000 3,066, Offshore Oil Engineering Co Ltd-A A 394,900 2,375, O-Film Tech Co Ltd-A A 309,215 5,470, Oppein Home Group Inc-A A 23,387 3,484, Orient Securities Co Ltd/China-A A 579,455 6,175, Pacific Securities Co Ltd/The/China-A A 1,154,500 3,130, Perfect World Co Ltd/China-A A 62,500 2,236, Petrochina Co Ltd-A A 1,147,300 10,447, Ping An Bank Co Ltd-A A 1,468,600 15,512, Ping An Insurance Group Co of China Ltd-A 1,840, ,795, A Poly Real Estate Group Co Ltd-A 1,217,097 16,906, A Power Construction Corp of China Ltd-A 761,300 4,904, A Qingdao Haier Co Ltd-A A 606,400 13,105,

32 300 ETFs INVESTMENT PORTFOLIO (UNAUDITED) (continued) AS AT 28TH JUNE 2018 # # % of net asset value Securities name Fair value (%) Listed equities (Stock Connect) (continued) Qinghai Salt Lake Industry Co Ltd-A 187,297 2,339, A Risesun Real Estate Development Co Ltd-A 256,400 2,550, A Rongsheng Petro Chemical Co Ltd-A A 179,300 2,159, SAIC Motor Corp Ltd-A A 592,800 23,839, Sanan Optoelectronics Co Ltd-A A 414,400 8,828, Sany Heavy Industry Co Ltd-A A 592,800 5,995, SDIC Capital Co Ltd-A A 187,200 2,026, SDIC Power Co Ltd-A A 834,000 7,091, SF Holding Co Ltd-A A 31,200 1,630, Shaanxi Coal Industry Co Ltd-A A 624,000 5,904, Shandong Buchang Pharmaceuticals Co Ltd-A 21,000 1,037, A Shandong Gold Mining Co Ltd-A A 112,900 3,155, Shandong Nanshan Aluminum Co Ltd-A 1,098,800 3,461, A Shanghai Construction Group Co Ltd-A 778,900 2,767, A Shanghai Electric Group Co Ltd-A A 418,086 3,138, Shanghai Fosun Pharmaceutical Group Co Ltd-A 156,105 7,305, A Shanghai International Airport Co Ltd-A 156,177 10,116, A Shanghai International Port Group Co Ltd-A 529,180 3,665, A Shanghai Lujiazui Finance & Trade Zone Development Co Ltd-A 183,636 3,361, A Shanghai Oriental Pearl Group Co Ltd-A 195,000 3,392, A Shanghai Pharmaceuticals Holding Co Ltd-A A 234,519 6,445,

33 300 ETFs INVESTMENT PORTFOLIO (UNAUDITED) (continued) AS AT 28TH JUNE 2018 # # % of net asset value Securities name Fair value (%) Listed equities (Stock Connect) (continued) Shanghai Pudong Development Bank Co Ltd-A 1,996,114 22,432, A Shanghai Raas Blood Products Co Ltd-A 161,117 3,722, A Shanghai Tunnel Engineering Co Ltd-A 482,726 3,304, A Shanxi Securities Co Ltd-A A 310,200 2,435, Shanxi Xinghuacun Fen Wine Factory Co Ltd-A 38,929 2,791, A Shanxi Xishan Coal & Electricity Power Co Ltd-A 288,600 2,542, A Shenwan Hongyuan Group Co Ltd-A 1,085,500 5,501, A Shenzhen Goodix Technology Co Ltd-A 7, , A Shenzhen Inovance Technology Co Ltd-A 171,600 6,563, A Shenzhen Overseas Chinese Town Co Ltd-A 627,392 5,148, A Shenzhen Salubris Pharmaceuticals Co Ltd-A 61,012 2,600, A Shenzhen Sunway Communication Co Ltd-A 132,727 4,628, A Shenzhen Zhongjin Lingnan Nonfemet Co Ltd-A 447,900 2,524, A Siasun Robot & Automation Co Ltd-A 210,640 4,138, A Sichuan Chuantou Energy Co Ltd-A 384,400 3,914, A Sinolink Securities Co Ltd-A A 660,199 5,464, Sinopec Shanghai Petrochemical Co Ltd-A A 282,400 1,889,

34 300 ETFs INVESTMENT PORTFOLIO (UNAUDITED) (continued) AS AT 28TH JUNE 2018 # # % of net asset value Securities name Fair value (%) Listed equities (Stock Connect) (continued) Songcheng Performance Development Co Ltd-A 78,000 2,112, A Soochow Securities Co Ltd-A A 445,349 3,533, Southwest Securities Co Ltd-A A 502,210 2,253, Spring Airlines Co Ltd-A A 40,100 1,619, Suning.Com Co Ltd-A A 663,100 10,498, Suofeiya Home Collection Co Ltd-A A 93,781 3,537, Suzhou Gold Mantis Construction Decoration Co Ltd-A 189,452 2,221, A Tasly Pharmaceutical Group Co Ltd-A 167,440 4,897, A Tbea Co Ltd-A A 865,800 6,961, TCL Corp-A TCL A 1,421,200 4,746, Tianqi Lithium Corp-A A 114,035 6,573, Tonghua Dongbao Pharmaceutical Co Ltd-A 198,309 5,366, A Tongling Nonferrous Metals Group Co Ltd-A 1,128,500 2,913, A Tongwei Co Ltd-A A 241,800 1,944, Tsinghua Tongfang Co Ltd-A A 176,100 1,762, Tus-Sound Environmental Resources Co Ltd-A 161,000 3,203, A Unisplendour Corp Ltd-A A 21,458 1,503, Wanda Film Holding Co Ltd-A A 49,566 3,053, Wangsu Science & Technology Co Ltd-A 250,373 3,030, A Wanhua Chemical Group Co Ltd-A 265,780 13,568, A Wanxiang Qianchao Co Ltd-A A 261,800 2,049, Weichai Power Co Ltd-A A 843,900 8,434, Western Securities Co Ltd-A A 308,554 2,703, Wintime Energy Co Ltd-A A 865,600 1,752, Wuchan Zhongda Group Co Ltd-A A 304,200 1,837,