Capture investment opportunities in Asia by investing in high yielding Asian equities and bonds! The fund adopts an active investment strategy and a m

Transcription

1 Important Information: 1. The fund invests primarily in Asian equities and fixed income securities which offer attractive yields and sustainable dividend payments. The fund will have limited Renminbi (RMB) denominated underlying investments. 2. In respect of the distribution units, the manager will declare and pay monthly distributions. However, the distribution rate is not guaranteed. Distribution yield is not indicative of the return of the fund. Distribution may be paid from capital of the fund. Investors should note that 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 value of units. 3. Changes in market interest rates will affect the value of debt securities held by the fund. The fund invests in below investment grade and/or unrated debt securities may be subject to higher counterparty, credit and liquidity risk than higher rated securities. 4. The fund's investment in emerging and less developed markets may be subject to significant risks such as political and economic risks, legal and regulatory risks, market and settlement risks, execution and counterparty risk, and currency risk. 5. The fund may invest into investments denominated in currencies other than the fund's base currency and subject to currency and exchange risk. If the investor's based currency is a different currency than the share class's currency being invested in, the investor needs to carry out conversion and would involve conversion costs. RMB is currently not freely convertible. There is no assurance that RMB will not be subject to devaluation. 6. The effects of hedging will be reflected in the net asset values of the respective hedged classes. Expenses arising from hedging transactions will be borne by the relevant hedged classes. Hedged share class hedges the fund's base currency back to its currency of denomination on a best efforts basis. The volatility of the hedged classes measured in the fund's base currency may be higher than that of the equivalent class denominated in the fund's base currency. 7. The fund may invest in financial derivative instruments (FDI) for hedging purposes. In adverse situations, the fund's use of FDI may become ineffective in hedging and the fund may suffer significant losses. Risks associated with FDI include counterparty risk, credit risk and liquidity risk. Such exposure may lead to a high risk of capital loss. 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. Schroder Asian Asset Income Fund Seize Asia s growth potential, grasp income opportunities 30 June, 2017

2 Capture investment opportunities in Asia by investing in high yielding Asian equities and bonds! The fund adopts an active investment strategy and a multiasset approach to help investors seize the enormous opportunities in Asia's fastgrowing economies. Why invest in the Schroder Asian Asset Income Fund? Yields on Asian assets remain attractive With persistently low interest rates across the globe, the Asian market provides plenty of investment opportunities which investors may enjoy attractive income streams. The region has also become an important market for many investors. The fund s payouts mainly come from high incomegenerating Asian equities and Asian fixed income. The relevant asset class indices possess an average historical yield of 5.5% and 3.2% (in US dollar terms), respectively. The fund is a respectable investment choice for investors seeking out sustained income. Historical yields of Asian bonds and equities (in US dollar terms) Year JPM Asia bond yield (%) MSCI Asia (exc. Japan) stock dividend yield (%) Average Source: Schroders, Bloomberg, as of 31/12/2016. Great growth potential in Asia s capital market The Asia Pacific region is host to a wide range of economies that enjoy more rapid growth compared to developed markets. In terms of valuations, Asian equities with high dividend yields remain attractive. In addition, yields of Asian bonds are higher than their counterparts in Europe and the US, bringing more attractive potential income to investors. Given continuous favourable factors, the growth potential of high dividend yield equities and bonds in Asia is worth investors attention. Real GDP (YoY%) Asia ex Japan s economic growth is expected to remain strong US Europe Asia ex JP EMEA Latin America * 2018* Source: Bloomberg, as of 31/05/2017. *Projected data Active asset allocation improves potential returns and manages risks A wide range of asset classes provide flexibility in asset allocation The fund s active asset allocation strategy between Asian equities, Asian bonds, other asset classes and cash aims to capture investment opportunities in Asia in all market conditions. We look to increase exposure to equities and bonds to enhance potential returns as opportunities arise and hold cash to mitigate risks should markets reverse. The fund invests in a wide range of assets to earn returns for investors via active asset allocation in different economic cycles. Allocation % Asian Equities 30~70% Equities Asian Bonds 30~70% Bonds 0~20% Other Asset Classes 0~30% Cash The exact asset allocation may deviate from the range mentioned above without prior notice to investors. Please refer to the relevant offering documents for details. 1

3 Schroder Asian Asset Income Fund Fund Features A Distribution unit class offers a monthly payout (Distribution rate is not guaranteed, and payment of distributions could be paid out from capital) ~ Capture Asia's strong growth potential through investment in Asian high dividend yielding equities and high yield bonds Enjoy the capital growth potential of other assets Active asset allocation to manage risk Distribution Policy and Frequency Unit Classes ISIN Code Bloomberg Distribution Distribution Ticker Policy Frequency A Dis HKD A Dis USD A Dis AUD Hedged A Dis RMB Hedged A Dis GBP Hedged A Acc HKD A Acc USD A Acc GBP Hedged HK HK HK HK HK HK HK HK SCAAHAD HK SCAAUAD HK SCAAIAA HK SCAAAHR HK SCAADHG HK SCAAHAA HK SCAAUAA HK SCAAAHG HK Variable Variable Variable Variable Variable N/A N/A N/A Monthly Monthly Monthly Monthly Monthly N/A N/A N/A Dividend Distribution Record ~ Unit Classes A Dis HKD A Dis USD A Dis AUD Hedged A Dis RMB Hedged A Dis GBP Hedged Distribution Per Unit Upcoming Distribution Record Date Note: The distribution record date may subject to change. Price on Record Date (30/06/2017) /07/ /08/ /09/2017 Geographical Allocation (%) Hong Kong Australia China Singapore Indonesia India Thailand Korea Others Cash & Cash Equivalents Asian Equity Asian Fixed Income Total Top Holdings Equity The Link REIT HSBC Holdings PLC HK Electric Investments & HK E AusNet Services Spark New Zealand Ltd Fixed Income Indonesia Government Sr Fr % 15/03/2024 Alibaba Group Holding 3.6% 28/11/2024 CNOOC Finance 2015 USA LLC 3.5% 05/05/2025 Indian Oil Corporation Limited 5.75% 01/08/2023 United Overseas Bank Limited 3.75% 19/09/2024 Fund Performance Cumulative Performance (%) Fund Annual Return (%) Fund Key Information Fund Objective Unit NAV (Class A Acc) HKD Holdings (%) Holdings (%) To provide income and capital growth over the medium to longer term by investing primarily in Asian equities and Asian fixed income securities. Hi/Lo (past 12 mths, Class A Acc) HKD / Base Currency YTD mth HKD 1Yr 7.4 3Yrs Yrs Since launch % /12 06/13 06/14 06/15 06/16 06/17 Fund Sector Allocation (%) Financial Communications Utilities Energy Industrial Government Basic Materials Consumer, Cyclical Others Cash & Cash Equivalents Asian Equity Asian Fixed Income Total Fund Manager MultiAsset Team Launch Date 27/06/2011 Fund Size (Million) HKD 37, Initial Charge up to (Class A) 5% Management Fee (Class A) 1.25% p.a. Dealing Frequency Daily Reference Benchmark 50% MSCI AC Asia Pacific ex Japan Index and 50% JP Morgan Asia Credit Index Financial Year End 30/6 ~ In respect of the distribution units, the manager will declare and pay monthly distributions. However, the distribution rate is not guaranteed. Distribution yield is not indicative of the return of the fund. Distributions may be paid from capital of the fund. Investors should note that 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 value of units. All fund information as at 30/06/2017. Source: Schroders. Fund performance based on Class A Accumulation; NAVNAV in HKD with net income reinvested. 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. Management Company: Schroder Investment Management (Hong Kong) Limited, Level 33, Two Pacific Place, 88 Queensway, Hong Kong Supervisory Authority: Securities and Futures Commission, 35/F, Cheung Kong Center, 2 Queen's Road Central, Hong Kong 2

4 重要事項 : 1. 基金主要投資於提供吸引收益率和持續派發股息的亞洲股票和定息證券 基金將有限度地投資於以人民幣定值的投資項目 2. 就收息單位而言, 經理人會每月宣佈和派發股息 然而, 息率並不保證 派息率並非基金回報之準則 基金在支付派息時, 可從資本中支付派息 投資者應注意從資本中支付派息時, 即表示及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, 可能即時導致單位價值下跌 3. 市場利率變動會影響基金持有之債務證券的價值 基金投資低於投資級別及 / 或未獲評級的債務證券較投資於高評級的證券承受較高的對手方 信用和流動性風險 4. 基金投資於新興和較落後的市場須承受顯著的風險, 例如政治和經濟風險 法律及監管風險 市場及結算風險 執行及交易對手方風險及貨幣風險 5. 基金可投資與基金基礎貨幣不同的貨幣單位須承受貨幣及兌換風險 若投資者的基本貨幣並非所投資的股份類別的貨幣, 投資者需要進行貨幣兌換而涉及兌換成本 人民幣現時不可自由兌換 不保證人民幣不會貶值 6. 對於各對沖單位類別, 對沖的效果將於對沖類別之資產淨值反映出來, 對沖交易引致的開支將由相關對沖類別承擔 對沖股份類別盡量把基金之基本貨幣對沖為對沖類別的定值貨幣 以基金基本貨幣量度對沖股份類別表現的波動性可能較以基金基本貨幣股份類別為高 7. 基金可能投資於金融衍生工具以進行對沖 在不利情況下, 基金使用金融衍生工具或未能有效地對沖, 基金可能承受重大虧損 涉及金融衍生工具的風險包括對手方風險 信貸風險 流動性風險, 該等投資或須承受高度的資本虧損風險 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 施羅德亞洲高息股債基金 捕捉亞洲升值潛力緊握收息機遇 2017 年 6 月 30 日

5 投資亞洲高息股票與債券市場, 讓你一舉捕捉亞洲投資機遇! 本基金採取主動式多元資產管理, 在經濟活力暢旺的亞洲, 為投資者爭取更多的收益機會 施羅德亞洲高息股債基金的主要優點 年份 JPM 亞洲債券收益率 (%) MSCI 亞洲 ( 日本除外 ) 股票股息率 (% 亞洲資產收益率具吸引力在全球持續低息的環境下, 亞洲市場提供不俗的收益投資選擇, 並且成為投資者部署投資組合時的重要市場 本基金收益主要來自高息的亞洲股票和亞洲債劵, 而相關指數過往的平均收益率分別為 5.5% 和 3.2%( 美元計 ), 對重視持續收益的投資者來說是個不俗的投資選擇 亞洲債券與股票歷年派息率 ( 美元計 ) 年份 JPM 亞洲債券收益率 (%) MSCI 亞洲 ( 日本除外 ) 股票股息率 (%) 平均 資料來源 : 施羅德投資, 彭博, 截至 31/12/2016 亞洲市場資本增長潛力高 預料亞洲 ( 日本除外 ) 經濟增長仍然強勁 相對於成熟市場, 亞太區的經濟仍然保持較高增長 從估值角度而言, 亞太高息股票依然吸引 再者, 亞洲債券利息普遍高於歐美, 亦可為投資者帶來可觀的潛在收益 在各種利好因素持續的環境下, 亞洲高息股票和亞洲債券增長潛力值得重視 實質國內生產總值 (% 按年 ) 美國 歐洲 亞洲 ( 日本除外 ) 歐洲 中東及非洲 拉丁美洲 * 2018* 資料來源 : 彭博, 截至 31/05/2017 * 預測數據 靈活資產配置提升潛在回報及管理風險基金經理可按照不同經濟週期及市況, 調整投資組合內股票 債券 其他資產種類及現金比重, 以靈活的資產配置捕捉亞洲投資機會 在市況利好的情況下增加股債比重以爭取潛在回報 相反, 在市況不明朗時, 持有現金亦可相對有效地降低下行風險 基金投資範圍廣泛, 可靈活地在不同經濟週期致力為投資者爭取可觀的潛在收益 配置 % 亞洲股票 30~70% 股票 投資範圍廣泛, 靈活捕捉投資良機 亞洲債券 30~70% 0~20% 0~30% 債券其他資產種類現金 實際資產分佈或有別於上述所示的範圍而無須向投資者預先通知, 詳情請參閱有關銷售文件 1

6 施羅德亞洲高息股債基金 ) 基金特色 A 類收息單位每月派息 ( 息率並不保證, 派息可從資本中支付 ) ~ 透過高息股票及債券, 捕捉亞洲的高增長潛力 兼享其他資產種類的升值潛力 靈活資產配置, 調控風險 派息政策及次數 單位類別 A 收息 港元 A 收息 美元 A 收息 澳元對沖 A 收息 人民幣對沖 A 收息 英鎊對沖 A 累積 港元 A 累積 美元 A 累積 英鎊對沖 派息紀錄 ~ 單位類別 A 類收息 港元 A 類收息 美元 A 類收息 澳元對沖 A 類收息 人民幣對沖 A 類收息 英鎊對沖 預定派息紀錄日 註 : 上述派息紀錄日可能更改 ISIN 號碼 HK HK HK HK HK HK HK HK 每單位派息 彭博代碼 SCAAHAD HK SCAAUAD HK SCAAIAA HK SCAAAHR HK SCAADHG HK SCAAHAA HK SCAAUAA HK SCAAAHG HK 派息政策不固定不固定不固定不固定不固定不適用不適用不適用 派息次數每月每月每月每月每月不適用不適用不適用 記錄日之基金價格 (30/06/2017) /07/ /08/ /09/2017 地區分佈 (%) 香港澳洲中國新加坡印尼印度泰國韓國其他現金及現金等值 亞洲股票 亞洲債券 總計 主要投資 證券領匯房產基金 HSBC Holdings PLC 港燈電力投資 AusNet Services Spark New Zealand Ltd 債券印尼政府 Sr Fr % 15/03/2024 阿里巴巴集團 3.6% 28/11/2024 CNOOC Finance 2015 USA LLC 3.5% 05/05/2025 Indian Oil Corporation Limited 5.75% 01/08/2023 United Overseas Bank Limited 3.75% 19/09/2024 基金表現 累積表現 (%) 基金 年度表現 (%) 基金 基金資料 比重 (%) 比重 (%) 投資目標主要透過投資於亞洲股票和亞洲定息證券, 以提供收益及中期至長期的資本增值 單位資產淨值 (A 類累積 ) 最高 / 最低 ( 過去十二個月,A 類累積 ) 基本貨幣 基金經理 年初至今 個月 港元 / 港元 港元 1 年 年 多元化資產投資團隊 5 年 自設立日起 % /12 06/13 06/14 06/15 06/16 06/17 基金 行業分佈 (%) 推出日期 27/06/2011 金融通訊公用事業能源工業政府基本材料消費, 週期性其他現金及現金等值 亞洲股票 亞洲債券 總計 資產值 ( 百萬元 ) 37, 港元 首次認購費上限 (A 類 ) 5% 管理年費 (A 類 ) 每年 1.25% 交易日 每日 參考基準指數 50% MSCI AC Asia Pacific ex Japan 指數及 50% JP Morgan Asia Credit 指數 財政年度結算日 30/6 儘管基金旨在投資於提供吸引收益率和持續派發股息的證券, 經理人可酌情決定息率 投資者不應理解為基金表示或暗示派息率獲得保證 ~ 就收息單位而言, 經理人會每月宣佈和派發股息 然而, 息率並不保證 派息率並非基金回報之準則 基金在支付派息時, 可從資本中支付派息 投資者應注意從資本中支付派息時, 即表示及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, 可能即時導致單位價值下跌 所有基金資料截至 30/06/2017 資料來源: 施羅德投資 基金表現以 A 類累積 ( 港元 ) 資產淨值價計算, 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 ) 有限公司刊發及並未受證監會檢閱 管理公司 : 施羅德投資管理 ( 香港 ) 有限公司, 香港金鐘道 88 號太古廣場二座 33 字樓監管機構 : 證券及期貨事務監察委員會, 香港皇后大道中 2 號, 長江集團中心 35 樓 2

7 Schroder Asian Asset Income Fund A Acc 施羅德亞洲高息股債基金 Œ A 類股份累積單位 As at 截至 30/06/2017 Important Information 重要事項 1. The fund invests primarily in Asian equities and fixed income securities which offer attractive yields and sustainable dividend payments. The fund will have limited Renminbi (RMB) denominated underlying investments. 2. In respect of the distribution units, the manager will declare and pay monthly distributions. However, the distribution rate is not guaranteed. Distribution yield is not indicative of the return of the fund. Distribution may be paid from capital of the fund. Investors should note that 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 value of units. 3. Changes in market interest rates will affect the value of debt securities held by the fund. The fund invests in below investment grade and/or unrated debt securities may be subject to higher counterparty, credit and liquidity risk than higher rated securities. 4. The fund s investment in emerging and less developed markets may be subject to significant risks such as political and economic risks, legal and regulatory risks, market and settlement risks, execution and counterparty risk, and currency risk. 5. The fund may invest into investments denominated in currencies other than the fund's base currency and subject to currency and exchange risk. If the investor s based currency is a different currency than the share class s currency being invested in, the investor needs to carry out conversion and would involve conversion costs. RMB is currently not freely convertible. There is no assurance that RMB will not be subject to devaluation. 6. The effects of hedging will be reflected in the net asset values of the respective hedged classes. Expenses arising from hedging transactions will be borne by the relevant hedged classes. Hedged share class hedges the fund s base currency back to its currency of denomination on a best efforts basis. The volatility of the hedged classes measured in the fund s base currency may be higher than that of the equivalent class denominated in the fund s base currency. 7. The fund may invest in financial derivative instruments (FDI) for hedging purposes. In adverse situations, the fund s use of FDI may become ineffective in hedging and the fund may suffer significant losses. Risks associated with FDI include counterparty risk, credit risk and liquidity risk. Such exposure may lead to a high risk of capital loss. 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. 1. 基金主要投資於提供吸引收益率和持續派發股息的亞洲股票和定息證券 基金將有限度地投資於以人民幣定值的投資項目 2. 就收息單位而言, 經理人會每月宣佈和派發股息 然而, 息率並不保證 派息率並非基金回報之準則 基金在支付派息時, 可從資本中支付派息 投資者應注意從資本中支付派息時, 即表示及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, 可能即時導致單位價值下跌 3. 市場利率變動會影響基金持有之債務證券的價值 基金投資低於投資級別及 / 或未獲評級的債務證券較投資於高評級的證券承受較高的對手方 信用和流動性風險 4. 基金投資於新興和較落後的市場須承受顯著的風險, 例如政治和經濟風險 法律及監管風險 市場及結算風險 執行及交易對手方風險及貨幣風險 5. 基金可投資與基金基礎貨幣不同的貨幣單位須承受貨幣及兌換風險 若投資者的基本貨幣並非所投資的股份類別的貨幣, 投資者需要進行貨幣兌換而涉及兌換成本 人民幣現時不可自由兌換 不保證人民幣不會貶值 6. 對於各對沖單位類別, 對沖的效果將於對沖類別之資產淨值反映出來, 對沖交易引致的開支將由相關對沖類別承擔 對沖股份類別盡量把基金之基本貨幣對沖為對沖類別的定值貨幣 以基金基本貨幣量度對沖股份類別表現的波動性可能較以基金基本貨幣股份類別為高 7. 基金可能投資於金融衍生工具以進行對沖 在不利情況下, 基金使用金融衍生工具或未能有效地對沖, 基金可能承受重大虧損 涉及金融衍生工具的風險包括對手方風險 信貸風險 流動性風險, 該等投資或須承受高度的資本虧損風險 Investment Objective 投資目標 Key Information 基金資料 The fund's investment objective is to provide income and capital growth over the medium to longer term by investing primarily in Asian equities and Asian fixed income securities. 本基金的投資目標主要透過投資於亞洲股票和亞洲定息證券, 以提供收益及中期至長期的資本增值 Cumulative Performance 累積表現 (%) Fund 基金 (%) Fund 基金 YTD 年初至今 3 Mths 1 Yr 3 個月 1 年 3 Yrs 3 年 5 Yrs 5 年 Annual Return 基金總回報 (%) Since Launch 自設立日起 Fund 基金 Asset Type 資產分佈 (%) Equities 股票 Fixed Income 債券 Total 總計 Hong Kong 香港 Australia 澳洲 China 中國 Singapore 新加坡 Indonesia 印尼 India 印度 Thailand 泰國 Korea 韓國 Taiwan 台灣 New Zealand 新西蘭 Others 其他 Global 環球 5.20 Cash & Cash Equivalents 現金及現金等值 2.60 Total 總計 Top Holdings Equity (%) 主要投資 股票 (%) The Link REIT 2.30 HSBC Holdings PLC 2.00 HK Electric Investments & HK E 2.00 AusNet Services 2.00 Spark New Zealand Ltd Top Holdings Fixed Income (%) 主要投資 債劵 (%) INDONESIA (GOVERNMENT OF) /03/2024 SERIES FR70 ALIBABA GROUP HOLDING /11/2024 SERIES WI CNOOC FINANCE 2015 USA LLC /05/2025 INDIAN OIL CORPORATION LIMITED /08/2023 SERIES REGS UNITED OVERSEAS BANK LIMITED /09/2024 SERIES REGS 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 ) Beta (3 yrs) 貝他 (3 年 ) Sharpe Ratio (3 yrs) 夏普比率 (3 年 ) HKD ( 港元 ) HKD / ( 港元 ) 4.69% 5.72% N/A 0.82 Initial Charge up to 首次認購費上限 5.00% Management Fee 管理年費 1.25% p.a. Fund Manager 基金經理 Launch Date 推出日期 Fund Size 資產值 (million 百萬元 ) Distribution Frequency (Class A) 派息次數 (A 類股份 ) MultiAsset Team ( 多元化資產投資團隊 ) 06/11 HKD37, ( 港元 ) Monthly (if any) 每月 ( 如有 ) Distribution rate is not guaranteed, and payment of distributions may be paid out of capital. Pay attention to Important Information 2. 息率並不保證, 派息可從資本中支付 注意重要事項 2 Financial Year End 30/06 財政年度結算日 Schroders InvestLink Code 815 施羅德資訊通 編號 Share Class Available 可認購單位類別 Bloomberg Ticker 彭博代碼 ISIN CODE ISIN 號碼 A Acc HKD (A 類累積 港元 ) A Dis HKD (A 類收息 港元 ) A Acc USD (A 類累積 美元 ) A Dis USD (A 類收息 美元 ) A Dis AUD Hedged (A 類收息 澳元對沖 ) A Dis RMB Hedged (A 類收息 人民幣對沖 ) A Acc GBP Hedged (A 類累積 英鎊對沖 ) A Dis GBP Hedged (A 類收息 英鎊對沖 ) SCAAHAA HK SCAAHAD HK SCAAUAA HK SCAAUAD HK SCAAIAA HK SCAAAHR HK SCAAAHG HK SCAADHG HK HK HK HK HK HK HK HK HK Pay attention to Important Information 1, 5, 6, 7 注意重要事項 1, 5, 6, 7 èmorningstar Rating 晨星星號評級 TM èmorningstar Analyst Rating 晨星分析師評級 Source : Schroders. NAVNAV in HKD with net income reinvested. 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. èmorningstar, Inc. All Rights Reserved. Morningstar Rating (TM) as at 30/06/2017. Morningstar Analyst Rating (TM) as at 01/06/2017. 資料來源 : 施羅德投資 基金表現以資產淨值價 ( 港元 ) 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 Œ 儘管基金旨在投資於提供吸引收益率和持續派發股息的證券, 經理人可酌情決定息率 投資者不應理解為基金表示或暗示派息率獲得保證 èmorningstar 版權所有 晨星星號評級數據截至 30/06/2017 晨星分析師評級數據截至 01/06/2017 TM

8 PRODUCT KEY FACTS Schroder Asian Asset Income Fund Issuer: Schroder Investment Management (Hong Kong) Limited 17 February 2017 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 Manager: Trustee: Schroder Investment Management (Hong Kong) Limited HSBC Institutional Trust Services (Asia) Limited Ongoing charges over a year*: Class A AUD Hedged Dis 1.56% Class C HKD Dis 0.84% Class A GBP Hedged Acc 1.56% # Class A RMB Hedged Dis 1.56% Class A GBP Hedged Dis 1.56% # Class A USD Acc 1.56% Class A HKD Acc 1.56% Class A USD Dis 1.56% Class A HKD Dis 1.56% Class C USD Acc 0.84% Class C HKD Acc 0.84% Dealing frequency: Base currency: Dividend policy: Financial year end of this fund: Minimum investment: Daily HKD A and C Accumulation Units Dividend will not be distributed but will be reinvested into the fund. A and C Distribution Units Dividend will be distributed on a monthly basis. However, the distribution rate is not guaranteed. Distributions may be paid out of capital and reduce the fund s net asset value. 30 June Initial HKD5,000, RMB5,000 or USD1,000 (or equivalent), Subsequent Investment HKD5,000, RMB5,000 or USD1,000 (or equivalent) * The ongoing charges figure is based on the expenses for the year ended 30 June This figure may vary from year to year. # As the relevant unit class is newly set up, the ongoing charges figure is an estimate only. The ongoing charges figure is estimated based on the ongoing charges figure of Class A AUD Hedged Dis for the year ended 30 June 2016 because the fee structures of Class A AUD Hedged Dis are the same as those of Class A GBP Hedged Acc and Class A GBP Hedged Dis. The actual ongoing charges figure of the relevant unit class may be different from the estimate and may vary from year to year. What is this product? This is a subfund of the Schroder Umbrella Fund II constituted in the form of an umbrella unit trust established under the laws of Hong Kong. 1

9 Objectives and investment strategy Schroder Asian Asset Income Fund The fund s objective is to provide income and capital growth over the medium to longer term by investing primarily in Asian equities and Asian fixed income securities. The fund will seek to achieve the investment objective primarily through investment in a portfolio of equity securities of Asian companies which offer attractive yields and sustainable dividend payments, including real estate investment trusts, and bonds and other fixed or floating rate securities, of investment grade or below investment grade (at the time of or subsequent to acquisition), issued by governments, government agencies, supranational and corporate issuers in Asia which offer attractive yields. The fund may substantially invest in bonds and debt securities which are below investment grade or unrated. The fund may, if the manager considers fit and to a limited extent, seek exposure to other asset classes including but not limited to nonasian securities and commodities (including energy, metals and agricultural commodities) indirectly through exchange traded funds and/or similar instruments. The fund will actively allocate between Asian equities, Asian fixed income securities, other asset classes and cash to achieve the fund s objective. The fund will use a cyclical approach to asset allocation where the asset mix will be adjusted according to the four phases of the economic cycle recovery, expansion, slowdown and recession based on a combination of fundamental and quantitative factors such as asset class valuation, macroeconomic data and liquidity. Cash will be treated as a separate asset class and will be deployed if necessary to limit downside risk during adverse market conditions. The fund s expected asset allocation ranges for each asset class is expected to be the following: Asian equities: 3070% Asian fixed income: 3070% Other asset classes: 020% Cash: 030% In addition to active asset allocation, the fund will also perform active security selection for its investments in Asian equities, Asian fixed income and other asset classes. For the Asian equities portfolio, the fund intends to focus on companies that are able to create true shareholder value, have a strong and stable earnings stream and have a strong sustainable dividend yield. For the Asian fixed income portfolio, the fund intends to select securities that deliver attractive yield and capital growth taking into account both fundamental and technical views such as valuation, demand/supply conditions and liquidity. The fund will also perform duration management based on the manager s interest rate views. Duration is a measure of the sensitivity of the portfolio value to changes in interest rates. Hence duration management means managing the impact that interest rate movements have on the value of the portfolio. For example, an increase in interest rates usually has a negative impact on the value of bonds, hence the manager would reduce the duration of the portfolio to reduce the effect from rising interest rates. The fund may also utilize financial derivative instruments for the purposes of hedging, although the manager is not obligated to do so. In extreme market conditions, the fund may hold more than 10% of its assets in cash. It is the current intention of the Manager to invest not more than 10% of the net asset value of the fund in China Ashares, China Bshares and/or securities linked to any of these. Investment in China Ashares may be made through the ShanghaiHong Kong Stock Connect ( Stock Connect ) (as further described in the section headed Investment Objective & Policy in the offering document). The fund will have limited Renminbi (RMB) denominated underlying investments. The manager will also manage the fund taking into account the distribution policy of the fund. Please refer to Distribution section of the offering document for details. What are the key risks? Investment involves risk. Please refer to the offering document for details including the risk factors. 1. Equity investment risk The fund s 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, 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

10 Schroder Asian Asset Income Fund 2. Risks relating to investment grade, below investment grade and unrated debt securities There is a risk that investment grade securities that the fund invests in may be downgraded due to adverse market conditions. In the event of a downgrading of the credit rating of a security or an issuer relating to a security that the fund invests in, the value of the fund may be adversely affected. The fund may invest in debt securities below investment grade which are generally accompanied by a higher degree of counterparty risk, credit risk and liquidity risk than higher rated, lower yielding securities. Investment in unrated debt securities may be subject to risks similar to those associated with below investment grade debt securities. 3. Risks relating to distributions In respect of Distribution Units, the manager will declare and pay distributions on a monthly basis. However, the distribution rate is not guaranteed. The Manager may at its discretion make such distributions out of the capital of the fund. This 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 value of units of the relevant Distribution Units. 4. Credit risk Investment in bonds or other debt securities is subject to the credit risk of the issuer. In the event that any issuer of bonds or other debt securities in which the fund invests defaults, becomes insolvent or experiences financial or economic difficulties, this may affect the value of the relevant securities (which may be zero) and may in turn adversely affect the net asset value per unit of the fund. 5. Interest rates risks Changes in market interest rates will affect the value of debt securities held by the fund. Generally, the market value decreases when interest rates rise and increases when interest rates fall. 6. Emerging and less developed markets The fund s investment in emerging and less developed markets may be subject to significant risks such as political and economic risks, legal and regulatory risks, market and settlement risks, execution and counterparty risk, and currency risk. As a result, prices of securities traded in the securities markets of emerging or developing countries tend to be volatile. 7. Risks relating to Real Estate Investment Trusts ( REITs ) The fund may be subject to risks similar to those associated with the direct ownership of real property (in addition to securities market risks) through its investment in REITs. The prices of REITs are affected by changes in the value of the underlying property owned by the REITs. REITs are dependent upon management skills and generally may not be diversified. Certain special purpose REITs in which the fund may invest may have their assets in specific real property sectors, such as hotel REITs, nursing home REITs or warehouse REITs, and are therefore subject to the risks associated with adverse developments in these sectors. The REITs invested in by the fund may not necessarily be authorized by the SFC and the distribution policy of the fund may not reflect the dividend policy of the underlying REITs. 3

11 Schroder Asian Asset Income Fund 8. Risks relating to hedging and the hedged classes There is no guarantee that the desired hedging instruments will be available or hedging techniques will be effective. The fund may suffer significant losses in adverse situation. Each hedged class will hedge the fund s base currency back to its currency of denomination, on a best effort basis. Any expenses arising from such hedging transactions will be borne by the relevant hedged classes. Furthermore, the volatility of the hedged classes measured in the fund s base currency may be higher than that of the equivalent class denominated in the fund s base currency. 9. Renminbi ( RMB ) Currency Risk RMB has moved to a managed floating exchange rate based on market supply and demand with reference to a basket of foreign currencies. The daily trading price of the RMB against other major currencies in the interbank foreign exchange market is allowed to float within a narrow band around the central parity published by the People s Republic of China. RMB is currently not freely convertible and RMB convertibility from offshore RMB ( CNH ) to onshore RMB ( CNY ) is a managed currency process subject to foreign exchange control policies of and restrictions imposed by the Chinese government. There can be no assurance that RMB will not be subject to depreciation. Classes denominated in RMB will be valued with reference to CNH rather than CNY. While CNH and CNY represent the same currency, they are traded in different and separate markets which operate independently. The value of offshore CNH could differ, perhaps significantly, from that of onshore CNY due to a number of factors including without limitation those foreign exchange control policies and repatriation restrictions. As such CNH does not necessarily have the same exchange rate and may not move in the same direction as CNY. Classes denominated in RMB, both hedged and unhedged, participate in the CNH market, which allows investors to freely transact CNH outside of mainland China subject to the availability and clearing liquidity of CNH. NonRMB based investors (e.g. Hong Kong investors) in Classes denominated in RMB may have to convert HK dollar or other currency(ies) into RMB when investing in Classes denominated in RMB and subsequently convert the RMB redemption proceeds and/or dividend payment (if any) back to HK dollar or such other currency(ies). Investors will incur currency conversion costs and you may suffer losses depending on the exchange rate movements of RMB relative to HK dollar or such other currencies. For nonhedged RMB denominated classes, depending on the exchange rate movements of RMB relative to the base currency of the fund and/or other currency(ies) of the nonrmb denominated underlying investment of the funds, (i) you may still suffer losses even if there are gains or no losses in the value of the nonrmb denominated underlying investments; or (ii) you may suffer additional losses if the nonrmb denominated underlying investments of the fund fall in value. For RMB denominated hedged classes, please also refer to Risks relating to hedging and the hedged classes above for the relevant risks. 4

12 Schroder Asian Asset Income Fund Even if the fund aim at paying redemption monies and/or distributions of RMB denominated classes in RMB, the manager may, under extreme market conditions when there is not sufficient RMB for currency conversion and with the approval of the trustee, pay redemption monies and/or distributions in US dollar. There is also a risk that payment of redemption monies and/or distributions in RMB may be delayed when there is not sufficient amount of RMB for currency conversion for settlement of the redemption monies and distributions in a timely manner due to the exchange controls and restrictions applicable to RMB. In any event, redemption monies will be paid within one calendar month upon receipt of all properly completed documentation. 10. Risks related to investments via the Stock Connect The relevant rules and regulations on the Stock Connect are subject to change which may have potential retrospective effect. The Stock Connect is subject to quota limitations. Where a suspension in the trading through the programme is effected, the fund s ability to invest in China Ashares or access the mainland China market through the programme will be adversely affected. In such event, the fund s ability to achieve its investment objective could be negatively affected. 11. Financial derivative instruments ( FDI ) Risks associated with FDI include counterparty risk, credit risk and liquidity risk, valuation risk, volatility risk, overthecounter transaction risks and hedging risk. Such exposure may lead to a high risk of significant capital loss. The leverage element component of an FDI can result in a loss substantially greater than the amount invested in the FDI itself. How has the fund performed? 30% 20% 10% 0% 10% 26.1% 10.4% 6.5% 0.8% % 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, NAVToNAV, with dividend reinvested. These figures show by how much the fund s Class A HKD Accumulation increased or decreased in value during the calendar year being shown. Performance data has been calculated in HKD including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Where no past performance is shown there was insufficient data available in that year to provide performance. Fund launch date: 2011 Class A HKD Accumulation launch date: 2011 The manager views the Class A HKD Accumulation, being the retail unit class denominated in the base currency of the fund, as the most appropriate representative unit 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, changes of investment objective and policy and 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. 5

13 Schroder Asian Asset Income Fund 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 units of the fund. Fee What you pay Unit class A C Subscription fee (Initial charge) Switching fee Redemption fee (Redemption charge) Up to 5% of the gross investment amount Up to 5% of the switching amount 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 net asset value) Unit class A C Management fee* 1.25% 0.625% Trustee fee 0.07% (Subject to a minimum fee of HKD156,000 per annum) Performance fee Administration fee (Service Provider s costs) Not applicable 0.02% to 0.2% * The fee may be increased up to a maximum annual rate of 7% of the net asset value of the fund after giving at least one month s prior notice to unitholders. Other fees You may have to pay other fees when dealing in the units of the fund. Please refer to the offering document for fees payable by the fund. 6

14 Additional information Schroder Asian Asset Income Fund You generally buy and redeem units at the fund s nextdetermined 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 5 pm HK time, being the fund s dealing cutoff 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 cutoff time (which may be earlier than the fund s dealing cutoff time). Compositions of the distributions (i.e. the percentages of distribution being paid out of capital and net distributable income) for the last twelve months for each of the classes of Distribution Units paying distributions out of capital are available from the manager on request and on the Schroders Internet site ( Past performance information of other unit classes offered to Hong Kong investors is available online at The net asset value of this fund is calculated and the price of units is published on each dealing day. They are also available online at The 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. 7

15 產品資料概要施羅德亞洲高息股債基金 1 發行人 : 施羅德投資管理 ( 香港 ) 有限公司 2017 年 2 月 17 日 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 經理人 : 受託人 : 施羅德投資管理 ( 香港 ) 有限公司 滙豐機構信託服務 ( 亞洲 ) 有限公司 全年經常性開支比率 *: A 類別 ( 澳元對沖收息 ) 1.56% C 類別 ( 港元收息 ) 0.84% A 類別 ( 英鎊對沖累積 ) 1.56% # A 類別 ( 人民幣對沖收息 ) 1.56% A 類別 ( 英鎊對沖收息 ) 1.56% # A 類別 ( 美元累積 ) 1.56% A 類別 ( 港元累積 ) 1.56% A 類別 ( 美元收息 ) 1.56% A 類別 ( 港元收息 ) 1.56% C 類別 ( 美元累積 ) 0.84% C 類別 ( 港元累積 ) 0.84% 交易頻密程度 : 基本貨幣 : 派息政策 : 財政年終結日 : 最低投資額 : 每日 港元 A 及 C 累積單位 不會派發股息, 但會將股息再投資於基金 A 及 C 收息單位 將每月派息 然而, 經理人不會對派息率作出保證 派息可從資本中扣除, 從而減低基金的資產淨值 6 月 30 日 首次投資 5,000 港元 5,000 元人民幣或 1,000 美元 ( 或等值金額 ); 額外認購 5,000 港元 5,000 元人民幣或 1,000 美元 ( 或等值金額 ) * 全年經常性開支比率是根據截至 2016 年 6 月 30 日的年度費用計算, 每年均可能有所變動 # 由於有關單位類別為新成立, 其全年經常性開支比率僅為一個估算的數字 該全年經常性開支比率是根據 A 類別 ( 澳元對沖收息 ) 截至 2016 年 6 月 30 日的全年經常性開支比率而估計, 這是因為 A 類別 ( 澳元對沖收息 ) 的收費結構與 A 類別 ( 英鎊對沖累積 ) 和 A 類別 ( 英鎊對沖收息 ) 的相同 有關單位類別實際的全年經常性開支比率可能與該估算不同, 每年亦可能有所變動 本基金是什麼產品? 本基金為施羅德傘型基金 II 旗下的一項子基金, 施羅德傘型基金 II 為一項依香港法例成立的傘型單位信託基金 1 儘管本基金旨在投資於提供吸引收益率和持續派發股息的證券, 經理人可酌情決定息率 投資者不應理解為本基金表示或暗示派息率獲得保證 1

16 目標及投資策略 主要透過投資於亞洲股票和亞洲定息證券, 以提供收益及中期至長期的資本增值 施羅德亞洲高息股債基金 基金主要透過投資於一籃子提供吸引收益率和持續派發股息的亞洲公司的股本證券, 包括房地產投資基金, 以及由亞洲各地政府 政府機構 跨國家機構及企業發行並提供吸引收益的債券和其他定息或浮息證券 ( 該等證券在購入時或購入後可能是具有投資級別或投資級別以下的證券 ), 以達致投資目標 基金可大量投資於評級低於投資級別或未獲評級的債券和債務證券 如經理人認為合適, 基金可有限度地透過交易所交易基金及 或類似的工具, 間接投資於其他種類的資產, 包括但不限於非亞洲證券 商品 ( 包括能源 金屬和農產品 ) 基金將積極地將投資在亞洲股票 亞洲定息證券 其他種類的資產和現金之間進行配置, 以達致基金的目標 基金將運用周期性方針配置資產, 即資產將依經濟周期的四個階段 復甦 膨脹 放緩和衰退, 按基礎和定量因素如資產種類估值 宏觀經濟數據和流動性調整資產組合 現金將被視為獨立的資產種類, 如有需要, 在不利市況時將被用作限制下跌的風險 基金各資產種類的預計資產配置範圍如下 : 亞洲股票 :3070% 亞洲定息收益 :3070% 其他資產種類 :020% 現金 :030% 在積極的資產配置以外, 基金亦會積極地在亞洲股票 亞洲定息收益和其他資產種類中挑選投資項目 就亞洲股票組合而言, 基金打算集中在能夠產生真正的股東價值 擁有強而穩定的收入來源, 和提供高而持續的股息收益的公司 至於亞洲定息收益組合, 基金打算以參考基礎和技術意見如估值 供應和需求情況, 及流動性來選擇提供吸引收益和資本增值的證券 基金亦會基於經理人對利率的看法而進行存續期管理 存續期是量度投資組合價值對利率改變的敏感度 因此, 存續期管理即是管理利率走勢對投資組合價值的影響 例如, 利率上升通常對債券的價值有負面影響, 故經理人會減低投資組合的存續期以減少利率上升時引致的影響 基金亦可為對沖的目的運用衍生工具, 縱使經理人並無責任就此作出行動 在極端市況下, 基金持有的現金可能超過其資產的 10% 經理人現時有意將不超過基金資產淨值的 10% 投資於中國 A 股 中國 B 股及 / 或與任何這些股份掛鈎的證券 投資於中國 A 股可經滬港股票市場交易互聯互通機制 ( 滬港通 ) 進行 詳情請細閱銷售文件標題為 投資目標及政策 一節 基金將有限度地投資於以人民幣定值的投資項目 經理人管理基金時亦會考慮基金的派息政策 詳情請參閱銷售文件內標題為 派息 一節 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 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

17 2. 有關具投資級別 低於投資級別和未獲評級的債務證券的風險 施羅德亞洲高息股債基金 基金所投資具投資級別的證券可能因負面的市況被降級 如基金投資的證券或證券發行商的信用級別被降級, 基金的價值亦可能會負面地受影響 基金可投資於低於投資級別的債務證券, 與擁有較高評級 較低孳息的證券相比, 該等債務證券一般具較高程度的對手方風險 信用風險和流動性風險 投資於未獲評級的債務證券的風險, 與投資於低於投資級別債務證券承受的風險相約 3. 有關派息的風險 有關收息單位, 經理人將每月宣佈和派發股息 然而, 經理人不會對派息率作出保證 經理人可酌情決定從基金的資本中支付派息 即相當於從閣下原本投資的金額中, 或從該等金額賺取的資本收益中退回或提取部份款項, 可能即時導致相關收息單位的價值下跌 4. 信用風險 投資於債券或其他債務證券須承受發行機構的信用風險 當基金所投資的任何債券或其他債務證券發行機構違約 變得無力償還或面對財務或經濟困難, 可能影響相關證券的價值 ( 該價值可能是零 ), 因而負面地影響基金的每單位資產淨值 5. 利率風險 市場利率變動會影響基金持有之債務證券的價值 一般來說, 利率上升時市值會下跌, 而利率下跌則市值會上升 6. 新興和較落後市場 基金投資於新興和較落後的市場須承受顯著的風險, 例如政治和經濟風險 法律及監管風險 市場及結算風險 執行及交易對手方風險及貨幣風險 因此, 新興和較落後證券市場的證券交易價傾向波動 7. 有關房地產投資基金的風險 ( REITs ) 透過於 REITs 的投資, 除證券市場風險以外, 可能承受類似直接持有房地產的相關風險 REITs 的價格受其擁有之相關房地產價值改變影響 REITs 依靠管理技巧, 一般來說不會多元化 基金投資的若干 特別目的 REITs, 其資產可能屬於特定的房地產行業, 如酒店 REITs 護理院 REITs 或貨倉 REITs, 因此承受該等行業發展不利的相關風險 基金投資的 REITs 未必需要證監會的認可, 基金的派息政策或未能反映相關 REITs 的派息政策 3

18 8. 有關對沖和對沖類別的風險沖類別的風險 施羅德亞洲高息股債基金 基金不保證市場能提供合意的對沖工具或對沖技術可達到理想效果 在不利的情況下, 基金可能會蒙受重大虧損 各對沖類別將盡量把基金之基本貨幣對沖為對沖單位類別的定值貨幣 因該等對沖交易引致的任何開支將由相關對沖類別承擔 此外, 以基金基本貨幣量度的對沖類別的波動性, 可能較以基金基本貨幣定值之相關類別為高 9. 人民幣 ( 人民幣人民幣 ) 貨幣風險 人民幣匯率已轉為一個受管理的浮動匯率, 匯率基於市場供求及參考一籃子外國貨幣而定訂 於銀行間外匯市場中人民幣兌換其他主要貨幣可按中華人民共和國發布的中間價窄幅上落 人民幣現時不可自由兌換 將境外人民幣 ( CNH ) 兌換為境內人民幣 ( CNY ) 是一項貨幣管理程序, 須遵守由中國政府實施的外匯管制政策及限制 無法保證人民幣不會貶值 人民幣類別參考 CNH 而非 CNY 的價值計值 CNH 及 CNY 雖屬相同貨幣, 但有關貨幣在不同 分開及獨立運作的市場上買賣 境外 CNH 價值與境內 CNY 價值可因若干因素 ( 包括但不限於外匯管制政策和匯款限制 ) 而出現差幅, 而且差幅可以十分顯著 因此,CNH 與 CNY 匯率未必相同, 匯率走勢亦可能不一樣 以人民幣定值的對沖和未對沖類別參與 CNH 市場, 可在中國大陸境外自由交易 CNH, 惟受限於 CNH 的供應及清算流動性 並非以人民幣為基本貨幣的投資者 ( 如香港投資者 ), 在投資人民幣類別時可能須將港幣或其他貨幣兌換為人民幣, 其後亦須將贖回人民幣所得款項及 或人民幣派息 ( 如有 ) 兌換為港幣或其他貨幣 ; 因此將會產生貨幣匯兌成本並可能帶來損失, 視乎人民幣兌港幣或其他貨幣的匯率走勢而定 就未對沖人民幣類別而言, 視乎人民幣相對於基金的基本貨幣及 或基金相關資產的其他計價貨幣 ( 非人民幣 ) 的匯率走勢而定, 可能涉及以下風險 :(i) 即使非人民幣計價的相關資產在價值上錄得收益或並無虧損, 投資者仍可能蒙受損失 ; 或 (ii) 假如基金的非人民幣計價相關資產的價值下跌, 投資者的損失可能更大 對沖人民幣類別相關風險, 請參閱上述 有關對沖和對沖類別的風險 4

19 施羅德亞洲高息股債基金 即使基金有意以人民幣向人民幣類別的單位持有人支付贖回所得款項及 或派息, 在極端市況下市場未能提供足夠人民幣作兌換時及獲受託人批准後, 經理人可以美元支付贖回所得款項及 或派息 如因人民幣相關外匯管制政策及限制, 市場未能及時提供足夠人民幣作兌換贖回所得款項及 或派息, 以人民幣支付的贖回所得款項 或派息有可能會延誤 無論如何, 贖回所得款項將最遲於收到所有填妥文件後的一個曆月內支付 10. 與透過滬港通投資相關的風險 有關滬港通的規則和規例或會更改, 並可能潛在追溯效力 滬港通受額度限制所限 當透過機制的交易被暫停, 基金經機制投資於中國 A 股或進入中國內地市場的能力將受到不利影響 在該等情況下, 基金達致其投資目標的能力可受到負面影響 11. 金融衍生工具 涉及金融衍生工具的風險包括對手方風險 信貸風險 流動性風險 估值風險 波動性風險 場外交易風險和對沖風險, 該等投資或須承受重大的資本虧損風險 金融衍生工具的槓桿元素部分可導致顯著地較金融衍生工具投資金額為大的虧損 本基金過往的業績表現如何? 30% 26.1% 20% 10.4% 10% 6.5% 0.8% 0% % 註 10% 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 A 類別 ( 港元累積 ) 總值在有關歷年內的升跌幅度 業績表現以港元計算, 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 如年內沒有顯示有關的業績表現, 即代表當年沒有足夠數據用作提供業績表現之用 基金發行日 :2011 A 類別 ( 港元累積 ) 發行日 :2011 經理人視 A 類別 ( 港元累積 )( 即以基金的基本貨幣計值的零售單位類別 ) 為基金的最適合代表單位類別 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, 即投資目標及政策變更及費用下調 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 5

20 施羅德亞洲高息股債基金 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單位交易或須繳付以下費用 費用 金額 單位類別 A C 認購費 ( 首次認購費 ) 投資金額的最高 5.00% 轉換費 轉換金額的最高 5.00% 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 ( 佔基金資產淨值百分比 ) 單位類別 A C 經理人費 * 1.25% 0.625% 受託人費 0.07% ( 惟最低收費為每年 156,000 港元 ) 業績表現費行政費 ( 服務提供機構的費用 ) 不適用 0.02% 至 0.2% 之間 * 基金在給予單位持有人最少一個月的事先通知後可將收費調高, 以基金的資產淨值 7% 為限 其他費用閣下進行基金單位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 6

21 其他資料 施羅德亞洲高息股債基金 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 經理人備有一份從資本中支付股息之各收息單位類別過去 12 個月的派息成份表 ( 即分別從資本和淨收入中支付股息的百分比 ), 該成份表可向經理人索取, 亦可瀏覽施羅德網站 ( ) 供香港投資者認購的其他單位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單位價格, 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 7