Top 10 holdings % Indonesia (Rep of) 7.875% 15/04/19 Indonesia 2.1 Mce Finance 4.875% 06/06/25 Cayman Islands 1.3 Indonesia (Rep of) 8.5% 12/10/35 Ind

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1 Important information: The Fund mainly invests in higher yielding Asian fixed income securities. Investments of the Fund may include both investment grade and non-investment grade bonds in Asia. The Fund is subject to the risks of investing in emerging markets. High yield bonds, non-investment grade bonds and unrated bonds are subject to higher risk than investment grade bonds. For certain classes of the Fund, the Fund may pay dividends out of capital or pay dividends gross of expenses. Investors should note that the payment of dividends out of capital or effectively out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Such distributions may result in an immediate decrease in the net asset value of the Fund. The Fund s investments may involve substantial credit/counterparty, downgrading, market, currency, volatility, liquidity, regulatory and political risks. Investors may suffer substantial loss of their investments in the Fund. Base Currency Hedged Class (the class name is suffixed by O and the acronym of the class s currency) seeks to provide a return in its class currency which is similar to the return of a corresponding class denominated in the Fund s base currency. Interest rate differentials, transaction costs, etc. may affect returns adversely. The class may not benefit from any appreciation of the Fund s base currency against the class s currency, and may be exposed to exchange rate risks between the portfolio s currencies and the Fund s base currency as potentially the underlying securities are not mainly denominated in and/or hedged to the Fund s base currency. Hedging may not achieve the desired result. Unit trusts are NOT equivalent to time deposits. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund for details. This document does not constitute an offering document. HSBC Collective Investment Trust HSBC Asia High Income Bond Fund March 2018 Fund objective and strategy The Fund aims to invest in fixed income securities which provide higher yield compared to their peers and the potential for capital appreciation over the medium to long term. A minimum of 70% of the Fund s net asset value will be invested in a diversified portfolio of fixed income securities issued or guaranteed by government, government agencies or supranational bodies in Asia, or issued by companies which are domiciled in, based in or carry out the larger part of their business in Asia. The Fund may invest up to 20% of its net asset value in bonds traded on the China Interbank Bond Market in the PRC via the CIBM Initiative and/or Bond Connect and/or other means as may be permitted by the relevant regulations from time to time. Product features The Fund invests in a diversified portfolio of high yielding fixed income bonds and other securities issued by Asian institutions (corporates, governments and government agencies) The Fund may invest up to 45% in below investment grade securities Performance (%) 1 YTD 3 mths 6 mths 1 yr 3 yrs 5 yrs Since Inception Fund (Class AM2-USD) Reference Performance Benchmark Price Indexed Feb Mar Apr May Jun Jul Aug Sep Oct Nov 18 Jan Feb Fund (Class AM2-USD) 2 Reference Performance Benchmark 3 Portfolio composition Country allocation % China/Hong Kong 39.8 India 16.6 Indonesia 16.2 South Korea 8.1 Singapore 4.8 Philippines 3.3 Sri Lanka 2.6 Thailand 2.0 Cash -0.2 Others Sector allocation % Industrial 15.4 Sovereign 15.3 Bank sub 12.2 Property 10.6 Financial 9.7 Cyclical 9.4 Oil & gas 7.8 Quasi-sovereign 6.5 Technology 4.7 Cash & others Fund changes that may have material impact on performance: 6 Sep 2017 investment objective changed. 2. The performance and dividend yield of a Class may be affected by many factors such as, where applicable, exchange rate fluctuation, currency hedging costs and interest rate differentiation between different currencies. Therefore, different Classes may have different performance and dividend yield, and the performance and dividend yield of a Class cannot be used to represent the performance and dividend yield of another Class. 3. Reference Performance Benchmark: 65% JACI Diversified USD Investment Grade 35% JACI Diversified USD High Yield. Investment in Base Currency Hedged Classes may preclude investors from benefiting from an increase in the value of the Fund s base currency. There is no guarantee that the hedging techniques will achieve their desired result for the relevant Base Currency Hedged Classes. Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. The document has not been reviewed by the Securities and Futures Commission. Issued by HSBC Global Asset Management (Hong Kong) Limited Percent Change Calendar year performance (%) 1 Fund (Class AM2-USD) 2 Source: Morningstar, Inc. as at 28 February Bid to Bid price with dividend reinvested, in USD. Reference Performance Benchmark 3 Since launch to 31/12/ Fund details Launch date Class AM2-USD/AM2-HKD Class AM3O-AUD/ AM3O-CAD/AM3O-EUR/ AM3O-GBP/AM3O-RMB Fund size Base currency Bid price Class AM2-USD Class AM2-HKD Class AM3O-AUD Class AM3O-CAD Class AM3O-EUR Class AM3O-GBP Class AM3O-RMB Fund manager Investment adviser 24 February October 2017 USD1, million USD USD9.860 HKD9.949 AUD9.723 CAD9.705 EUR9.703 GBP9.707 RMB9.727 Alfred Mui / Gregory Suen HSBC Global Asset Management (HK) Limited Minimum investment USD1,000 / HKD10,000 / AUD1,500 / CAD1,000 / EUR850 / GBP650 / RMB10,000 Initial charge 5.25% Management fee 1.15% per annum Switching charge 1% Dealing ISIN code Class AM2-USD Class AM2-HKD Class AM3O-AUD Class AM3O-CAD Class AM3O-EUR Class AM3O-GBP Class AM3O-RMB Daily HK HK HK HK HK HK HK Download the offering documents from site/media/pdf/documents/amhk_hcit.pdf Please refer to the offering document for details of other fees. Source: HSBC Investment Funds (Hong Kong) Limited as at 28 February 2018.

2 Top 10 holdings % Indonesia (Rep of) 7.875% 15/04/19 Indonesia 2.1 Mce Finance 4.875% 06/06/25 Cayman Islands 1.3 Indonesia (Rep of) 8.5% 12/10/35 Indonesia 1.3 Gohl Capital Ltd 4.25% 24/01/27 Malaysia 1.2 Nexen Inc 6.4% 15/05/37 China 1.2 Proven Honour Cap Ltd /5/25 China 1.1 Sunny Optical Tech 3.75% 23/01/23 China 1.1 Indonesia Republic 2.875% 08/07/21 Indonesia 1.1 Bank of China 5% 13/11/24 China 1.1 Republic of Sri Lanka 5.75% 18/01/22 Sri Lanka 1.0 history of Class AM2-USD ( is not guaranteed, and may be paid out of capital) # Bloomberg ticker Class AM2-USD HSHIAMU HK Class AM2-HKD HSHIAMH HK Class AM3O-AUD HSHIAOA HK Class AM3O-CAD HSHIAOC HK Class AM3O-EUR HSHIAOE HK Class AM3O-GBP HSHIAOG HK Class AM3O-RMB HSHIAOR HK Financial Y/E 31 March policy ly, if any Portfolio characteristics Annualised volatility (3-year) Sharpe ratio (3-year) amount Bid price of Annualised yield based on ^ on calculation date (for reference only)* Apr - 17 USD USD % 4.36% May - 17 USD USD % 4.36% Jun - 17 USD USD % 4.36% Jul - 17 USD USD % 4.36% Aug - 17 USD USD % 4.36% Sep - 17 USD USD % 4.36% Oct - 17 USD USD % 4.36% Nov - 17 USD USD % 4.36% Dec - 17 USD USD % 4.36% Jan - 18 USD USD % 4.36% Feb - 18 USD USD % 4.36% ^ Calculation method: (dividend value / bid price as of ) x 12. * Calculation method: (dividend value / bid price as of calculation date) x 12. The calculation date is the 21st day of every month. If it is a non-dealing day of the Fund, then the following dealing day. The Fund uses the net asset value on the calculation date to determine the dividend amount, and then such dividend will be deducted from the fund assets on the to determine the net asset value of the Fund. # is not guaranteed, a positive distribution yield does not imply a positive return. The dividend yield (%) is targeted NOT guaranteed and the actual yield may vary month by month. The dividend yield is subject to change at any time at the Manager s discretion without prior notice. The Manager will review and adjust the target dividend yield at least semi-annually. A targeted stable dividend yield (%) does NOT mean stable dividend amount ($). Although the Fund targets a stable dividend yield semi-annually, the actual amount to be distributed may vary each month. The Fund may pay dividends out of capital or pay dividends gross of expenses which represents a return or withdrawal of part of the amount the investors originally invested or from any capital gains attributable to the original investment. Such distributions may result in capital erosion an immediate decrease in the net asset value of the Fund. The annualised dividend yield is calculated based on the dividend distribution on the relevant date with dividend reinvested, and may be higher or lower than the actual annual dividend yield. The performance and dividend yield of a Class may be affected by many factors such as, where applicable, exchange rate fluctuation, currency hedging costs and interest rate differentiation between different currencies. Therefore, different Classes may have different performance and dividend yield, and the performance and dividend yield of a Class cannot be used to represent the performance and dividend yield of another Class. Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. The document has not been reviewed by the Securities and Futures Commission. Issued by HSBC Global Asset Management (Hong Kong) Limited

3 Important information: The Fund mainly invests in higher yielding Asian fixed income securities. Investments of the Fund may include both investment grade and non-investment grade bonds in Asia. The Fund is subject to the risks of investing in emerging markets. High yield bonds, non-investment grade bonds and unrated bonds are subject to higher risk than investment grade bonds. For certain classes of the Fund, the Fund may pay dividends out of capital or pay dividends gross of expenses. Investors should note that the payment of dividends out of capital or effectively out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Such distributions may result in an immediate decrease in the net asset value of the Fund. The Fund s investments may involve substantial credit/counterparty, downgrading, market, currency, volatility, liquidity, regulatory and political risks. Investors may suffer substantial loss of their investments in the Fund. Unit trusts are NOT equivalent to time deposits. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund for details. This document does not constitute an offering document. HSBC Collective Investment Trust HSBC Asia High Income Bond Fund history ( is not guaranteed, and may be paid out of capital) # Class AM2-USD (ISIN Code: HK ) on ^ on calculation Feb Feb-18 USD USD % 4.36% Jan Jan-18 USD USD % 4.36% Dec Dec-17 USD USD % 4.36% Nov Nov-17 USD USD % 4.36% Oct Oct-17 USD USD % 4.36% Sep Sep-17 USD USD % 4.36% Aug Aug-17 USD USD % 4.36% Jul Jul-17 USD USD % 4.36% Jun Jun-17 USD USD % 4.36% May May-17 USD USD % 4.36% Class AM2-HKD (ISIN Code: HK ) on ^ on calculation Feb Feb-18 HKD HKD % 4.36% Jan Jan-18 HKD HKD % 4.36% Dec Dec-17 HKD HKD % 4.36% Nov Nov-17 HKD HKD % 4.36% Oct Oct-17 HKD HKD % 4.36% Sep Sep-17 HKD HKD % 4.36% Aug Aug-17 HKD HKD % 4.36% Jul Jul-17 HKD HKD % 4.36% Jun Jun-17 HKD HKD % 4.36% May May-17 HKD HKD % 4.36% ^ Calculation method: (dividend value / bid price as of ) x 12. * Calculation method: (dividend value / bid price as of calculation date) x 12. The calculation date is the 21st day of every month. If it is a nondealing day of the Fund, then the following dealing day. The Fund uses the net asset value on the calculation date to determine the dividend amount, and then such dividend will be deducted from the fund assets on the to determine the net asset value of the Fund. # is not guaranteed, a positive distribution yield does not imply a positive return. The dividend yield (%) is targeted NOT guaranteed and the actual yield may vary month by month. The dividend yield is subject to change at any time at the Manager s discretion without prior notice. The Manager will review and adjust the target dividend yield at least semi-annually. A targeted stable dividend yield (%) does NOT mean stable dividend amount ($). Although the Fund targets a stable dividend yield semi-annually, the actual amount to be distributed may vary each month. The Fund may pay dividends out of capital or pay dividends gross of expenses which represents a return or withdrawal of part of the amount the investors originally invested or from any capital gains attributable to the original investment. Such distributions may result in capital erosion an immediate decrease in the net asset value of the Fund. The annualised dividend yield is calculated based on the dividend distribution on the relevant date with dividend reinvested, and may be higher or lower than the actual annual dividend yield. The performance and dividend yield of a Class may be affected by many factors such as, where applicable, exchange rate fluctuation, currency hedging costs and interest rate differentiation between different currencies. Therefore, different Classes may have different performance and dividend yield, and the performance and dividend yield of a Class cannot be used to represent the performance and dividend yield of another Class. Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. The document has not been reviewed by the Securities and Futures Commission. Issued by HSBC Global Asset Management (Hong Kong) Limited

4 Important information: The Fund mainly invests in higher yielding Asian fixed income securities. Investments of the Fund may include both investment grade and non-investment grade bonds in Asia. The Fund is subject to the risks of investing in emerging markets. High yield bonds, non-investment grade bonds and unrated bonds are subject to higher risk than investment grade bonds. For certain classes of the Fund, the Fund may pay dividends out of capital or pay dividends gross of expenses. Investors should note that the payment of dividends out of capital or effectively out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Such distributions may result in an immediate decrease in the net asset value of the Fund. The Fund s investments may involve substantial credit/counterparty, downgrading, market, currency, volatility, liquidity, regulatory and political risks. Investors may suffer substantial loss of their investments in the Fund. Unit trusts are NOT equivalent to time deposits. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund for details. This document does not constitute an offering document. HSBC Collective Investment Trust HSBC Asia High Income Bond Fund history ( is not guaranteed, and may be paid out of capital) # Class AM2-AUD (ISIN Code: HK ) on ^ on calculation Feb Feb-18 AUD AUD % 4.36% Jan Jan-18 AUD AUD % 4.36% Dec Dec-17 AUD AUD % 4.36% Nov Nov-17 AUD AUD % 4.36% Oct Oct-17 AUD AUD % 4.36% Sep Sep-17 AUD AUD % 4.36% Aug Aug-17 AUD AUD % 4.36% Jul Jul-17 AUD AUD % 4.36% Jun Jun-17 AUD AUD % 4.36% May May-17 AUD AUD % 4.37% Class AM2-CAD (ISIN Code: HK ) on ^ on calculation Feb Feb-18 CAD CAD % 4.36% Jan Jan-18 CAD CAD % 4.36% Dec Dec-17 CAD CAD % 4.36% Nov Nov-17 CAD CAD % 4.36% Oct Oct-17 CAD CAD % 4.36% Sep Sep-17 CAD CAD % 4.36% Aug Aug-17 CAD CAD % 4.36% Jul Jul-17 CAD CAD % 4.36% Jun Jun-17 CAD CAD % 4.36% May May-17 CAD CAD % 4.36% ^ Calculation method: (dividend value / bid price as of ) x 12. * Calculation method: (dividend value / bid price as of calculation date) x 12. The calculation date is the 21st day of every month. If it is a nondealing day of the Fund, then the following dealing day. The Fund uses the net asset value on the calculation date to determine the dividend amount, and then such dividend will be deducted from the fund assets on the to determine the net asset value of the Fund. # is not guaranteed, a positive distribution yield does not imply a positive return. The dividend yield (%) is targeted NOT guaranteed and the actual yield may vary month by month. The dividend yield is subject to change at any time at the Manager s discretion without prior notice. The Manager will review and adjust the target dividend yield at least semi-annually. A targeted stable dividend yield (%) does NOT mean stable dividend amount ($). Although the Fund targets a stable dividend yield semi-annually, the actual amount to be distributed may vary each month. The Fund may pay dividends out of capital or pay dividends gross of expenses which represents a return or withdrawal of part of the amount the investors originally invested or from any capital gains attributable to the original investment. Such distributions may result in capital erosion an immediate decrease in the net asset value of the Fund. The annualised dividend yield is calculated based on the dividend distribution on the relevant date with dividend reinvested, and may be higher or lower than the actual annual dividend yield. The performance and dividend yield of a Class may be affected by many factors such as, where applicable, exchange rate fluctuation, currency hedging costs and interest rate differentiation between different currencies. Therefore, different Classes may have different performance and dividend yield, and the performance and dividend yield of a Class cannot be used to represent the performance and dividend yield of another Class. Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. The document has not been reviewed by the Securities and Futures Commission. Issued by HSBC Global Asset Management (Hong Kong) Limited

5 Important information: The Fund mainly invests in higher yielding Asian fixed income securities. Investments of the Fund may include both investment grade and non-investment grade bonds in Asia. The Fund is subject to the risks of investing in emerging markets. High yield bonds, non-investment grade bonds and unrated bonds are subject to higher risk than investment grade bonds. For certain classes of the Fund, the Fund may pay dividends out of capital or pay dividends gross of expenses. Investors should note that the payment of dividends out of capital or effectively out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Such distributions may result in an immediate decrease in the net asset value of the Fund. The Fund s investments may involve substantial credit/counterparty, downgrading, market, currency, volatility, liquidity, regulatory and political risks. Investors may suffer substantial loss of their investments in the Fund. Unit trusts are NOT equivalent to time deposits. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund for details. This document does not constitute an offering document. HSBC Collective Investment Trust HSBC Asia High Income Bond Fund history ( is not guaranteed, and may be paid out of capital) # Class AM2-EUR (ISIN Code: HK ) on ^ on calculation Feb Feb-18 EUR EUR % 4.36% Jan Jan-18 EUR EUR % 4.36% Dec Dec-17 EUR EUR % 4.36% Nov Nov-17 EUR EUR % 4.36% Oct Oct-17 EUR EUR % 4.36% Sep Sep-17 EUR EUR % 4.36% Aug Aug-17 EUR EUR % 4.36% Jul Jul-17 EUR EUR % 4.36% Jun Jun-17 EUR EUR % 4.36% May May-17 EUR EUR % 4.36% Class AM2-RMB (ISIN Code: HK ) on ^ on calculation Feb Feb-18 RMB RMB % 4.36% Jan Jan-18 RMB RMB % 4.36% Dec Dec-17 RMB RMB % 4.36% Nov Nov-17 RMB RMB % 4.36% Oct Oct-17 RMB RMB % 4.36% Sep Sep-17 RMB RMB % 4.36% Aug Aug-17 RMB RMB % 4.36% Jul Jul-17 RMB RMB % 4.36% Jun Jun-17 RMB RMB % 4.36% May May-17 RMB RMB % 4.36% ^ Calculation method: (dividend value / bid price as of ) x 12. * Calculation method: (dividend value / bid price as of calculation date) x 12. The calculation date is the 21st day of every month. If it is a nondealing day of the Fund, then the following dealing day. The Fund uses the net asset value on the calculation date to determine the dividend amount, and then such dividend will be deducted from the fund assets on the to determine the net asset value of the Fund. # is not guaranteed, a positive distribution yield does not imply a positive return. The dividend yield (%) is targeted NOT guaranteed and the actual yield may vary month by month. The dividend yield is subject to change at any time at the Manager s discretion without prior notice. The Manager will review and adjust the target dividend yield at least semi-annually. A targeted stable dividend yield (%) does NOT mean stable dividend amount ($). Although the Fund targets a stable dividend yield semi-annually, the actual amount to be distributed may vary each month. The Fund may pay dividends out of capital or pay dividends gross of expenses which represents a return or withdrawal of part of the amount the investors originally invested or from any capital gains attributable to the original investment. Such distributions may result in capital ersion an immediate decrease in the net asset value of the Fund. The annualised dividend yield is calculated based on the dividend distribution on the relevant date with dividend reinvested, and may be higher or lower than the actual annual dividend yield. The performance and dividend yield of a Class may be affected by many factors such as, where applicable, exchange rate fluctuation, currency hedging costs and interest rate differentiation between different currencies. Therefore, different Classes may have different performance and dividend yield, and the performance and dividend yield of a Class cannot be used to represent the performance and dividend yield of another Class. Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. The document has not been reviewed by the Securities and Futures Commission. Issued by HSBC Global Asset Management (Hong Kong) Limited

6 Important information: The Fund mainly invests in higher yielding Asian fixed income securities. Investments of the Fund may include both investment grade and non-investment grade bonds in Asia. The Fund is subject to the risks of investing in emerging markets. High yield bonds, non-investment grade bonds and unrated bonds are subject to higher risk than investment grade bonds. For certain classes of the Fund, the Fund may pay dividends out of capital or pay dividends gross of expenses. Investors should note that the payment of dividends out of capital or effectively out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Such distributions may result in an immediate decrease in the net asset value of the Fund. The Fund s investments may involve substantial credit/counterparty, downgrading, market, currency, volatility, liquidity, regulatory and political risks. Investors may suffer substantial loss of their investments in the Fund. Unit trusts are NOT equivalent to time deposits. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund for details. This document does not constitute an offering document. HSBC Collective Investment Trust HSBC Asia High Income Bond Fund history ( is not guaranteed, and may be paid out of capital) # Class AM3O-AUD (ISIN Code: HK ) on ^ on calculation Feb Feb-18 AUD AUD % 4.30% Jan Jan-18 AUD AUD % 4.39% Dec Dec-17 AUD AUD % 4.52% Nov Nov-17 AUD AUD % 4.58% Class AM3O-CAD (ISIN Code: HK ) on ^ on calculation Feb Feb-18 CAD CAD % 4.21% Jan Jan-18 CAD CAD % 4.17% Dec Dec-17 CAD CAD % 4.20% Nov Nov-17 CAD CAD % 4.32% Class AM3O-EUR (ISIN Code: HK ) on ^ on calculation Feb Feb-18 EUR EUR % 2.42% Jan Jan-18 EUR EUR % 2.49% Dec Dec-17 EUR EUR % 2.68% Nov Nov-17 EUR EUR % 2.78% ^ Calculation method: (dividend value / bid price as of ) x 12. * Calculation method: (dividend value / bid price as of calculation date) x 12. The calculation date is the 21st day of every month. If it is a nondealing day of the Fund, then the following dealing day. The Fund uses the net asset value on the calculation date to determine the dividend amount, and then such dividend will be deducted from the fund assets on the to determine the net asset value of the Fund. # is not guaranteed, a positive distribution yield does not imply a positive return. The dividend yield (%) is targeted NOT guaranteed and the actual yield may vary month by month. The dividend yield is subject to change at any time at the Manager s discretion without prior notice. The Manager will review and adjust the target dividend yield at least semi-annually. A targeted stable dividend yield (%) does NOT mean stable dividend amount ($). Although the Fund targets a stable dividend yield semi-annually, the actual amount to be distributed may vary each month. The Fund may pay dividends out of capital or pay dividends gross of expenses which represents a return or withdrawal of part of the amount the investors originally invested or from any capital gains attributable to the original investment. Such distributions may result in capital ersion an immediate decrease in the net asset value of the Fund. The annualised dividend yield is calculated based on the dividend distribution on the relevant date with dividend reinvested, and may be higher or lower than the actual annual dividend yield. The performance and dividend yield of a Class may be affected by many factors such as, where applicable, exchange rate fluctuation, currency hedging costs and interest rate differentiation between different currencies. Therefore, different Classes may have different performance and dividend yield, and the performance and dividend yield of a Class cannot be used to represent the performance and dividend yield of another Class. Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. The document has not been reviewed by the Securities and Futures Commission. Issued by HSBC Global Asset Management (Hong Kong) Limited

7 Important information: The Fund mainly invests in higher yielding Asian fixed income securities. Investments of the Fund may include both investment grade and non-investment grade bonds in Asia. The Fund is subject to the risks of investing in emerging markets. High yield bonds, non-investment grade bonds and unrated bonds are subject to higher risk than investment grade bonds. For certain classes of the Fund, the Fund may pay dividends out of capital or pay dividends gross of expenses. Investors should note that the payment of dividends out of capital or effectively out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Such distributions may result in an immediate decrease in the net asset value of the Fund. The Fund s investments may involve substantial credit/counterparty, downgrading, market, currency, volatility, liquidity, regulatory and political risks. Investors may suffer substantial loss of their investments in the Fund. Unit trusts are NOT equivalent to time deposits. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund for details. This document does not constitute an offering document. HSBC Collective Investment Trust HSBC Asia High Income Bond Fund history ( is not guaranteed, and may be paid out of capital) # Class AM3O-GBP (ISIN Code: HK ) on ^ on calculation Feb Feb-18 GBP GBP % 3.22% Jan Jan-18 GBP GBP % 3.28% Dec Dec-17 GBP GBP % 3.45% Nov Nov-17 GBP GBP % 3.33% Class AM3O-RMB (ISIN Code: HK ) on ^ on calculation Feb Feb-18 RMB RMB % 6.72% Jan Jan-18 RMB RMB % 6.17% Dec Dec-17 RMB RMB % 6.38% Nov Nov-17 RMB RMB % 6.37% ^ Calculation method: (dividend value / bid price as of ) x 12. * Calculation method: (dividend value / bid price as of calculation date) x 12. The calculation date is the 21st day of every month. If it is a nondealing day of the Fund, then the following dealing day. The Fund uses the net asset value on the calculation date to determine the dividend amount, and then such dividend will be deducted from the fund assets on the to determine the net asset value of the Fund. # is not guaranteed, a positive distribution yield does not imply a positive return. The dividend yield (%) is targeted NOT guaranteed and the actual yield may vary month by month. The dividend yield is subject to change at any time at the Manager s discretion without prior notice. The Manager will review and adjust the target dividend yield at least semi-annually. A targeted stable dividend yield (%) does NOT mean stable dividend amount ($). Although the Fund targets a stable dividend yield semi-annually, the actual amount to be distributed may vary each month. The Fund may pay dividends out of capital or pay dividends gross of expenses which represents a return or withdrawal of part of the amount the investors originally invested or from any capital gains attributable to the original investment. Such distributions may result in capital ersion an immediate decrease in the net asset value of the Fund. The annualised dividend yield is calculated based on the dividend distribution on the relevant date with dividend reinvested, and may be higher or lower than the actual annual dividend yield. The performance and dividend yield of a Class may be affected by many factors such as, where applicable, exchange rate fluctuation, currency hedging costs and interest rate differentiation between different currencies. Therefore, different Classes may have different performance and dividend yield, and the performance and dividend yield of a Class cannot be used to represent the performance and dividend yield of another Class. Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. The document has not been reviewed by the Securities and Futures Commission. Issued by HSBC Global Asset Management (Hong Kong) Limited

8 PRODUCT KEY FACTS 產品資料概要 HSBC Collective Investment Trust HSBC Asia High Income Bond Fund 滙豐集合投資信託 滙豐亞洲高入息債券基金 September 年 9 月 This statement provides you with key information about the HSBC Asia High Income Bond Fund 本概要提供有關滙豐亞洲高入息債券基金的重要資料 This statement is part of the offering document 本概要是銷售文件的一部分 You should not invest in this product based on this statement alone 投資者切勿單憑本概要作投資決定 Quick facts 基本資料 Fund manager 基金經理 HSBC Investment Funds (Hong Kong) Limited / 滙豐投資基金 ( 香港 ) 有限公司 Investment adviser 投資顧問 HSBC Global Asset Management (Hong Kong) Limited (Hong Kong, internal delegation) / 滙豐環球投資管理 ( 香港 ) 有限公司 ( 香港, 內部委託 ) Trustee 受託人 HSBC Institutional Trust Services (Asia) Limited / 滙豐機構信託服務 ( 亞洲 ) 有限公司 Ongoing charges over a year ## Class AC USD / AC 類 美元 1.76% 全年經常性開支比率 ## Class AM2 USD / AM2 類 美元 1.76% Class AM2 HKD / AM2 類 港元 1.76% Class AM2 RMB / AM2 類 人民幣 1.76% Class AM2 CAD / AM2 類 加元 1.76% Class AM2 AUD / AM2 類 澳元 1.76% Class AM2 EUR / AM2 類 歐元 1.76% Class AM3O AUD / AM3O 類 澳元 1.86% Class AM3O CAD / AM3O 類 加元 1.86% Class AM3O EUR / AM3O 類 歐元 1.86% Class AM3O GBP / AM3O 類 英鎊 1.86% Class AM3O RMB / AM3O 類 人民幣 1.86% Dealing frequency 進行交易 Daily on every dealing day, i.e. each business day on which banks in Hong Kong and regulated markets in countries where the Sub-Fund is materially invested are normally open for business except Saturdays and Sundays / 每一個交易日, 即香港的銀行及附屬基金有大量投資的國家的受監管市場通常開放營業的各營業日 ( 星期六及星期日除外 ) Base currency 基本貨幣 USD / 美元 policy 股息政策 Class AM2 USD, Class AM2 HKD, Class AM2 RMB, Class AM2 CAD, Class AM2 AUD, Class AM2 EUR, Class AM3O AUD, Class AM3O CAD, Class AM3O EUR, Class AM3O GBP and Class AM3O RMB: The Manager aims to declare dividends monthly on a discretionary basis, and if declared, dividends will be paid monthly. s may be paid out of the capital or effectively out of capital ### of the relevant Class. Payment of dividends out of capital or effectively out of capital may result in an immediate reduction of the net asset value of the relevant Class. / AM2 類 美元 AM2 類 港元 AM2 類 人民幣 AM2 類 加元 AM2 類 澳元 AM2 類 歐元 AM3O 類 澳元 AM3O 類 加元 AM3O 類 歐元 AM3O 類 - 英鎊及 AM3O 類 人民幣 : 經理人旨在按酌情基準每月宣派股息, 如宣派, 將會每月派發股息 股息可從相關類別的資本或實際上從相關類別的資本 ### 中支付 從資本中或實際上從資本中撥付股息, 可能導致相關類別的資產淨值即時減少 Class AC USD: No dividends will be declared or paid / AC 類 美元 : 不宣派或派付任何股息 Financial year end 財政年度終結日 31 March / 3 月 31 日

9 Minimum investment (initial and subsequent) 最低認購額 ( 初次及其後投資額 ) Class AC USD / AC 類 美元 USD1,000 / 1,000 美元 Minimum holding 最低持有額 Class AC USD / AC 類 美元 USD1,000 / 1,000 美元 Minimum redemption 最低贖回額 Class AC USD / AC 類 美元 USD1,000 / 1,000 美元 Class AM2 USD / AM2 類 美元 USD1,000 / 1,000 美元 Class AM2 AUD / AM2 類 澳元 AUD1,500 / 1,500 澳元 Class AM3O GBP / AM3O 類 英鎊 GBP650 / 650 英鎊 Class AM3O EUR / AM3O 類 歐元 EUR850 / 850 歐元 Class AM2 USD / AM2 類 美元 USD1,000 / 1,000 美元 Class AM2 AUD / AM2 類 澳元 AUD1,500 / 1,500 澳元 Class AM3O GBP / AM3O 類 英鎊 GBP 650 / 650 英鎊 Class AM3O EUR / AM3O 類 歐元 EUR850 / 850 歐元 Class AM2 USD / AM2 類 美元 USD1,000 / 1,000 美元 Class AM2 AUD / AM2 類 澳元 AUD1,500 / 1,500 澳元 Class AM2 HKD / Class AM2 RMB / AM2 類 港元 AM2 類 人民幣 HKD10,000 / RMB10,000 / 10,000 港元人民幣 10,000 元 Class AM2 EUR / AM2 類 歐元 EUR850 / 850 歐元 Class AM3O RMB / Class AM3O CAD / AM3O 類 人民幣 AM3O 類 加元 RMB10,000 / CAD1,000 / 人民幣 10,000 元 1,000 加元 Class AM2 HKD / AM2 類 港元 HKD10,000 / 10,000 港元 Class AM2 EUR / AM2 類 歐元 EUR850 / 850 歐元 Class AM2 RMB / AM2 類 人民幣 RMB10,000 / 人民幣 10,000 元 Class AM3O RMB / Class AM3O CAD / AM3O 類 人民幣 AM3O 類 加元 RMB10,000 / CAD1,000 / 人民幣 10,000 元 1,000 加元 Class AM2 HKD / AM2 類 港元 HKD10,000 / 10,000 港元 Class AM2 EUR / AM2 類 歐元 EUR850 / 850 歐元 Class AM2 RMB / AM2 類 人民幣 RMB10,000 / 人民幣 10,000 元 Class AM2 CAD / AM2 類 加元 CAD1,000 / 1,000 加元 Class AM3O AUD / AM3O 類 澳元 AUD1,500 / 1,500 澳元 Class AM2 CAD / AM2 類 加元 CAD1,000 / 1,000 加元 Class AM3O AUD / AM3O 類 澳元 AUD1,500 / 1,500 澳元 Class AM2 CAD / AM2 類 加元 CAD1,000 / 1,000 加元

10 Class AM3O GBP AM3O 類 英鎊 Class AM3O RMB AM3O 類 人民幣 Class AM3O CAD AM3O 類 加元 Class AM3O AUD AM3O 類 澳元 GBP 650 / 650 英鎊 Class AM3O EUR AM3O 類 歐元 EUR850 / 850 歐元 RMB10,000 / 人民幣 10,000 元 CAD1,000 / 1,000 加元 AUD1,500 / 1,500 澳元 ## This figure is an estimate only (as the Sub-Fund is newly set up) and represents the sum of the estimated ongoing expenses chargeable to the Unit Class of the Sub-Fund expressed as a percentage of the estimated average net asset value of the Unit Class. For Unit Classes launched before 1 July 2017, it has taken into account a reduction of the trustee fee with effect from 1 July The figure may vary from year to year. The actual figure may be different from the estimated figure. 此僅為估計數字 ( 因為附屬基金為新成立的基金 ), 指可向附屬基金的單位類別收取的估計經常性開支總額, 並以佔單位類別的估計平均資產淨值的百分比表示 而於 2017 年 7 月 1 日前推出的單位類別, 該數字已計及自 2017 年 7 月 1 日起調減受託人費用 此數字每年均可能有所變動 實際數字可能有別於估計數字 ### The Manager may at its discretion pay dividend out of gross income while charging/ paying all or part of the Sub-Fund s fees and expenses to/ out of the capital of the Sub-Fund (resulting in an increase in distributable income for the payment of dividends by the Sub-Fund), and thereby effectively pay distributions out of capital of the Sub-Fund. 經理人可酌情決定從總收入撥付股息, 同時從附屬基金的資本中扣除 / 支付附屬基金的全部或部分費用及開支 ( 導致可供附屬基金支付股息的可分派收入增加 ), 因此實際上從附屬基金的資本中支付股息 What is this product? 本附屬基金是甚麼產品? HSBC Asia High Income Bond Fund is constituted in the form of a unit trust. It is a sub-fund (the Sub-Fund ) of an umbrella fund, HSBC Collective Investment Trust (the Fund ). 滙豐亞洲高入息債券基金以單位信託基金形式組成 上述基金屬傘子基金 滙豐集合投資信託 ( 本基金 ) 的附屬基金 ( 附屬基金 ) Objectives and Investment Strategy 目標及投資策略 Investment Objective 投資目標 The Sub-Fund aims to invest in fixed income securities which provide higher yield compared to their peers and the potential for capital appreciation over the medium to long term. 附屬基金旨在投資於收益率高於其他同類證券及具有中長期資本增值潛力的固定收益證券 Investment Policy 投資政策 A minimum of 70% of the Sub-Fund s net asset value will be invested in a diversified portfolio of fixed income securities issued or guaranteed by government, government agencies or supranational bodies in Asia, or issued by companies which are domiciled in, based in or carry out the larger part of their business in Asia. 附屬基金將其資產淨值最少 70% 投資於一個由亞洲政府 政府機構或超國家組織, 或由在亞洲註冊成立或在亞洲經營其大部分業務的公司所發行或擔保的固定收益證券組成的多元化投資組合 The Sub-Fund s primary currency exposure is to the US dollar through including but not limited to foreign exchange positions (i.e. use of financial derivative instruments for hedging purposes only, cash and/or deposits). The Sub-Fund may also have exposure to non-us dollar currencies including Asian currencies (up to 30% of its net asset value) through direct holding of fixed income securities, cash and/or deposits. For the avoidance of doubt, the Sub-Fund may only invest up to 10% of its net asset value in cash, deposits or money market instruments for liquidity purposes. 附屬基金對美元的主要貨幣投資乃透過 ( 包括但不限於 ) 外匯倉盤 ( 即使用金融衍生工具只作對沖目的 現金及 / 或存款 ) 進行 附屬基金亦可透過直接持有固定收益證券 現金及 / 或存款而投資於非美元貨幣 ( 包括亞洲貨幣 ), 惟最多佔其資產淨值的 30% 為免生疑問, 附屬基金只可將其資產淨值最多 10% 投資於現金 存款或貨幣市場工具作流動性用途 The Sub-Fund does not have explicit restrictions on the minimum credit ratings of securities it may hold. Investment grade fixed income securities are rated at least Baa3 / BBB- by Moody s, Standard & Poor s, or any other internationally recognised credit rating agency. 附屬基金並無對其持有的證券設置明確的最低信貸評級限制 投資級別固定收益證券指獲穆迪 標準普爾或任何其他國際公認信貸評級機構給予至少 Baa3/BBB- 級別 The aggregate investment in securities that are:- 1. rated below investment grade as defined above; 2. rated BB+ or below (in case where the credit rating is designated / assigned by a PRC local credit rating agency); or 3. unrated (i.e. a bond for which neither the bond itself nor its issuer has a credit rating).

11 is up to 45% of the Sub-Fund s net asset value. 於下列證券的總投資最多為附屬基金資產淨值的 45% : 1. 被評為低於投資級別 ( 按上文界定 ) ; 2. 被評為 BB+ 或以下 ( 信貸評級由中國本地信貸評級機構指定 / 給予 ) ;或 3. 未評級 ( 即債券本身或其發行人並無信貸評級 ) The Sub-Fund may invest up to 20% of its net asset value in bonds traded on the China Interbank Bond Market ( CIBM ) in the PRC via the CIBM Initiative 1 and/or Bond Connect 2 and/or other means as may be permitted by the relevant regulations from time to time. 附屬基金可透過中國銀行間債券市場方案 1 及 / 或債券通 2 及 / 或相關規例不時准許的其他方式將其資產淨值最多 20% 投資於在中國的中國銀行間債券市場買賣的債券 The Sub-Fund will not invest more than 10% of its net asset value in debt securities issued and / or guaranteed by any single sovereign issuer (including its government, public or local authority) which is below investment grade (by an internationally recognised credit rating agency). 附屬基金不會將其資產淨值超過 10% 投資於任何單一主權發行人 ( 包括其政府 公共或地方機構 ) 所發行及 / 或擔保並 ( 被國際認可信貸評級機構 ) 評為低於投資級別的債務證券 The Sub-Fund may invest up to 10% of its net asset value in convertible bonds (excluding contingent convertible securities). 附屬基金可將其資產淨值最多 10% 投資於可轉換債券 ( 不包括或有可轉換證券 ) The Sub-Fund may invest up to 10% of its net asset value in contingent convertible securities; however such investment is not expected to exceed 5%. 附屬基金可將其資產淨值最多 10% 投資於或有可轉換證券, 惟預期不會超過 5% The Sub-Fund may also invest up to 10% of its net asset value in collateralised and/or securities products such as asset backed securities, mortgage backed securities and asset backed commercial papers. 附屬基金亦可將其資產淨值最多 10% 投資於有抵押及 / 或證券產品, 例如資產抵押證券 按揭證券及資產抵押商業票據 The Sub-Fund may use financial derivative instruments e.g. options, futures, swaps (such as credit default swaps) and foreign exchange forwards (including non-deliverable forwards), etc. for hedging purposes only. 附屬基金只可使用金融衍生工具作對沖目的, 例如期權 期貨 掉期 ( 如信貸違約掉期 ) 及外匯遠期 ( 包括不可交割遠期 ) 等 The Manager will not enter into securities lending, repurchase or reverse repurchase transactions or similar over-the-counter transactions in respect of the Sub-Fund. 經理人將不會就附屬基金訂立證券借出 購回或反向購回交易或類似的場外交易 Investors should note the following: (a) the reference to high income in the name of the Sub-Fund is to indicate that the Sub-Fund aims to invest in fixed income securities which provide higher yield compared to their peers; (b) it does not indicate that investors will receive a high level of income or otherwise; (c) this strategy does not mean that the Sub-Fund itself will make distributions in all circumstances; (d) the reference to high income is not indicative of the Sub-Fund s performance or returns; (e) the Sub-Fund does not have any guarantees; and (f) the Sub-Fund may not achieve such a desired result under all circumstances and/or market conditions. 投資者應注意以下事項 :(a) 附屬基金名稱中提及的 高入息, 乃指附屬基金旨在投資於收益率高於其他同類證券的固定收益證券; (b) 不表示投資者將獲得高水平的收入或其他收益; (c) 此策略不表示附屬基金本身將在所有情況下作出分派; (d) 提及的 高入息 不表示附屬基金的表現或回報; (e) 附屬基金不提供任何保證;及 (f) 附屬基金在所有情況及 或市況下或無法取得期望的業績 Investment Strategy 投資策略 The Manager s investment process combines qualitative top down analysis of macroeconomic and market dynamics, with structured bottom up research into individual bond issuers and fixed income securities. In order to achieve the objective of investing in fixed income securities which generate higher yield compared with their peers, the Manager aims to invest in fixed income securities which provide higher yield compared to bonds of the same type or in the same category. 經理人的投資過程結合對宏觀經濟及市場動態進行自上而下的定性分析, 以及對個別債券發行人及固定收益證券進行自下而上的結構研究 為了達致投資於收益率高於其他同類證券的固定收益證券之目標, 經理人旨在投資於相比同類型或同類別債券提供較高收益率的固定收益證券 1 Since February 2016, the People s Bank of China has permitted foreign institutional investors to invest in the CIBM subject to any other rules and regulations as promulgated by the PRC authorities. 自 2016 年 2 月起, 中國人民銀行已准許境外機構投資者按照中國當局頒布的任何其他規則及規例投資於中國銀行間債券市場 2 Bond Connect is a new initiative launched in July 2017 for mutual bond market access between Hong Kong and PRC established by China Foreign Exchange Trade System & National Interbank Funding Centre and Hong Kong Exchanges and Clearing Limited (amongst others). 債券通是於 2017 年 7 月推出的香港與中國債券市場互聯互通全新合作計劃, 並由中國外匯交易中心暨全國銀行間同業拆借中心及香港交易及結算所有限公司等設立

12 What are the Key Risks? 本附屬基金有哪些主要風險? Investment involves risks. Please refer to the offering document for details including the risk factors. 投資附帶風險 請參閱銷售文件以便獲取其他資料, 包括風險因素 Investment risk 投資風險 The Sub-Fund is an investment fund. The Sub-Fund s investment portfolio may fall in value due to any of the key risk factors below and therefore you may suffer losses by investing in the Sub-Fund. 附屬基金為投資基金 附屬基金的投資組合內的價值有機會因以下任何主要風險因素而下跌, 故閣下投資於本附屬基金亦可能會蒙受虧損 Investing in the Sub-Fund is not the same as deposits with a bank. There is no guarantee in respect of repayment of principal. There is no guarantee on regular distribution of dividends. 投資於附屬基金有別於在銀行存款 概不保證可償還本金 並不保證將定期分派股息 There is no guarantee that the Sub-Fund's investment objective can be achieved. 概無保證能達致附屬基金的投資目標 Geographical concentration risk 地域集中風險 The Sub-Fund invests primarily in the Asia markets which involve higher concentration risks. The value of the Sub-Fund may be more volatile than that of a fund having a more diverse portfolio of investments. 附屬基金主要投資於亞洲市場, 故涉及較高的集中風險 相比具有更多元化投資組合的基金, 附屬基金的價值可能會較為波動 The value of the Sub-Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the Asia markets. 附屬基金的價值可能較容易受到影響亞洲市場的不利經濟 政治 政策 外匯 流動性 稅務 法律或監管事件的影響 Emerging markets risk 新興市場風險 The Sub-Fund invests primarily in the Asia markets which include countries considered as emerging markets. Investing in emerging markets involves a greater risk of loss than investing in more developed markets due to, among other factors, greater political, tax, economic, foreign exchange, liquidity, market volatility (such as interest rate and price volatility), settlement risks, custody risk, legal and regulatory risks. The Sub- Fund s investment in emerging markets may be subject to significant losses. The net asset value of the Sub-Fund may be adversely affected, and, as result, investors may suffer a loss in their investment in the Sub-Fund. 附屬基金主要投資於亞洲市場, 而亞洲市場包含被視為新興市場的國家 相對較成熟市場, 投資於新興市場須承受較高損失的風險, 原因是涉及 ( 其中包括 ) 較高的政治 稅務 經濟 外匯 流動性, 市場波動 ( 如利率及價格波動 ) 結算風險 託管風險 法律及監管風險 附屬基金在新興市場的投資可能會蒙受重大損失 附屬基金的資產淨值可能受到不利影響, 因此投資者於附屬基金的投資可能蒙受損失 Foreign exchange and currency conversion risk 外匯及貨幣兌換風險 The Sub-Fund's assets and liabilities and/or the Classes of Units may be denominated in currencies different from the Sub-Fund s Base Currency (USD) or Class Currency. An investor s return (as measured in terms of the Base Currency or the Class Currency as the case may be) may be affected unfavourably by exchange control regulations or changes in the exchange rates between the Sub-Fund s Base Currency and other currencies. 附屬基金的資產與負債及 / 或單位類別可按有別於附屬基金的基本貨幣 ( 美元 ) 或類別貨幣的貨幣計值 外匯管制規例或附屬基金的基本貨幣兌其他貨幣的匯率變動可能對投資者的回報 ( 以基本貨幣或類別貨幣 ( 視乎情況而定 ) 計算 ) 構成不利的影響 s (for the distribution Classes of Units only) and redemptions will be paid in the relevant Class Currency, which may involve currency conversion of the proceeds obtained from realisation of the Sub-Fund s assets. Subscriptions may also result in currency conversion. Currency conversion involves foreign exchange risks as the exchange rates are subject to fluctuations. 股息 ( 僅就分派類別單位而言 ) 及贖回將以相關類別貨幣支付, 當中可能涉及就變現附屬基金資產所得款項進行貨幣兌換 認購亦可能導致進行貨幣兌換 由於匯率可能波動,故貨幣兌換涉及外匯風險 Risks relating to debt securities 有關債務證券的風險 : Credit risk and below investment grade (in case of internationally recognised credit rating agencies) or BB+ or below (in case of PRC local credit rating agencies) or unrated securities risk 信貸風險及低於投資級別 ( 就由國際認可信貸評級機構給予評級而言 ) 或 BB+ 或以下評級 ( 就由中國本地信貸評級機構給予評級而言 ) 或未獲評級證券風險 The Sub-Fund is exposed to the credit/default risk of issuers. Fixed income securities in which the Sub-Fund invests may be rated below investment grade (in case of internationally recognised credit rating agencies) or rated BB+ or below (in case of PRC local credit rating agencies) or unrated. Such securities are generally subject to lower liquidity, higher volatility and greater risk of loss of principal and interest than high-rated debt securities. The fixed income securities that the Sub-Fund invests in may also be unsecured debt obligations not supported by any collateral. The Sub-Fund will be fully exposed to the credit/insolvency risk of its counterparties as an unsecured creditor. 附屬基金須承受發行人的信貸 / 違約風險 附屬基金所投資的固定收益證券可能是低於投資級別 ( 就由國際認可信貸評級機構給予評級而言 ) 或 BB+ 或以下評級 ( 就由中國本地信貸評級機構給予評級而言 ) 或未獲評級 相較高評級債務證券, 該等證券一般流動性較低 波動較高 損失本金及利息的風險較大 附屬基金所投資的固定收益證券亦可能屬並無任何抵押品支持的無擔保債務債券 附屬基金作為無擔保債權人, 將須完全承受其對手方的信貸 / 無力償債風險 In the event that any issuer of such securities defaults, becomes insolvent or experiences financial or economic difficulties, the value of the securities will be adversely affected. The Sub-Fund may suffer losses in its investment in such securities. 若該等證券的任何發行人違約 變成無力償債或經歷財政或經濟困難, 證券的價值將受到不利影響 附屬基金可能在該等證券的投資上蒙受損失