The key advantage we believe our actively managed global high yield strategy offers investors over other similar products (including ETFs) is the uniq

Transcription

1 Important Information: The fund invests primarily in below investment grade fixed and floating rate securities. 1. The fund invests in debt securities which may be subject to interest rate, credit and counterparty risks. The fund may invest in unrated and non-investment grade securities which are exposed to greater credit risks. 2. The fund may use derivatives extensively for investment purposes (with a net leverage exposure of over 100%). Derivatives exposure may involve higher counterparty, liquidity and valuation risks. In adverse situations, the fund may suffer significant losses from their derivative usage for hedging. 3. For share classes with a general dividend policy, expenses will be paid out of capital rather than out of gross income. The amount of distributable income therefore increases and the amount so increased may be considered to be dividend paid out of capital. Share classes with a fixed dividend policy may pay out both income and capital in distributions. Where distributions are paid out of capital, this amounts to a return or withdrawal of part of your original investment or capital gains attributable to that and may result in an immediate decrease in the net asset value of shares. You should not make any investment decision solely based on this document. Please read the relevant offering document carefully for further fund details including risk factors. Schroder ISF Global High Yield Set your sights on higher potential yields and global returns 30 April, 2018

2 The key advantage we believe our actively managed global high yield strategy offers investors over other similar products (including ETFs) is the unique level of insight offered by our research teams and an ability to exploit market inefficiencies. In today s climate of low interest rates and increasingly tough stock market conditions, many investors are understandably cautious about the best way to earn reliable yields. In seamlessly blending both economic and credit analysis across a pioneering research-driven, theme-based process that enables more accurate top-down and bottom-up investment decisions, Schroders has structured a disciplined, risk-controlled framework that streamlines the setting of dependable: Macro strategy Sector and industry selections Security selections Quality biases Investment Grade High Yield Many investors may permit exposure only to higher-rated securities such as investment grade corporate bonds rated Baa3/BBB or higher by rating agencies because they are relatively low risk and typically unlikely to default. AAA AA A BBB BB B CCC CC and lower For investors who seek higher income, high yield bonds which have lower credit ratings than investment grade bonds pay higher yields because of the higher risk of default and generally provide higher potential returns. Bond markets are global, interrelated and generally efficient, but can overreact to events. Our globally integrated team of specialist analysts and portfolio managers, researching ideas in local markets, can provide performance advantage. Why invest in the Schroder ISF Global High Yield Fund? Wesley Sparks Lead Fund Manager, Schroder ISF Global High Yield Global strength with local peace of mind Maintaining a strong presence in major markets across Europe, Asia and the Americas, Schroders has a global team of credit experts who evaluate markets at the macroeconomic, sector and individual bond issue level. This means that our fund management team can fully explore any advantage we feel the market may not yet have identified. To ensure your added reassurance, our experienced local in-country specialists carefully select and monitor bonds across global markets. Proven risk management culture Risk management has always been part of our culture and is factored into everything that we do. Equally important, our professionals reduce possible interest rate and credit risks by using effective investment strategy. Should we choose to pursue an investment opportunity, it is because it has been rigorously researched and found to have the potential of compelling risk-adjusted returns. Monthly payout in a choice of currency classes The fund enables you to receive your monthly dividends in a choice of USD, HKD and AUD hedge classes that mirror your unique personal needs and circumstances. (Distribution rate is not guaranteed, and payment of distributions could be paid out from capital)^ Flexible cap size allocation While benchmark aware, our fund managers are not restricted to solely investing in offerings from larger issuers. As a result of its positions in mid-sized markets, the fund often benefits from advantages and delivers real flexibility whenever and wherever portfolios need to be adjusted. 1

3 Schroder ISF Global High Yield Fund Features Focus on investing in quality diversified global high yield bonds Select bonds from both bottom up and top down views Flexible issuer cap size for a wide selection of investment opportunities Monthly payout in a choice of currency classes (Distribution rate is not guaranteed, and payment of distributions could be paid out from capital)^ Available Share Classes and Distribution Frequency Share Classes A Dis- USD A Dis- HKD A Dis- AUD Hedged A Acc- USD Share Classes ISIN Code LU LU LU LU Dividend Distribution Record^ A Dis- USD A Dis- HKD A Dis- AUD Hedged Geographical Breakdown Rating Breakdown Distribution Per Share Upcoming Distribution Record Date Bloomberg Ticker SCHHYAD LX SCGHYAH LX SISGADA LX SCHHYDA LX Distribution Frequency Monthly Monthly Monthly N/A Price on Record Date (25/04/2018) /05/ /06/ /07/2018 Note: The distribution record date may subject to change. United States United Kingdom Italy Luxembourg Netherlands Canada France Ireland Others Cash & Cash Equivalents AAA AA A BBB BB B CCC+ NR Weights (%) Weights (%) Fund Performance Cumulative Performance (%) Fund Annual Return (%) Fund /13 04/14 04/15 04/16 04/17 04/18 Key Information Fund Objective YTD NAV per share (Class A Acc) Hi / Lo (past 12 mths, Class A Acc) Fund Manager Launch Date Fund Size (Million) Initial Charge up to (Class A) Management Fee (Class A) Dealing Frequency Financial Year End Effective Duration of Fund in Years Average Credit Rating Annual Volatility Over 3 Years (%) 3-mth The fund aims to provide income and capital growth by investing in below investment grade fixed and floating rate securities issued worldwide. USD USD / M. Metcalf, K. Leidman & M. Scott 16/04/2004 USD 2, % 1% p.a. Daily 31/ BB Yr Yrs Yrs Performance Over 5 Years (%) A Acc USD Share Class Fund 1.9 Since Launch Top Holdings United States Treasury Bill 0% 19/07/ Sprint 7.125% 15/06/ L Brands 6.75% 01/07/ Scientific Games 10% 01/12/ BWAY Holding 7.25% 15/04/ Golden Nugget 6.75% 15/10/ Post Holdings 5% 15/08/ Jack Ohio Finance 6.75% 15/11/ Telecom Italia 5.303% 30/05/ CCO Holdings 5% 01/02/ Weights (%) The Fund Offers an Investment Choice for Investors Who seek investment with monthly payout potential wish to gain access and invest in a well-diversified global high yield bond portfolio look for an actively managed bond portfolio which takes both top-down and bottom-up views into investment considerations are positive to invest in bonds with lower credit rating than investment grade bonds yet with higher potential yields Note: Investors should consider your own investment objective and risk tolerance level and seek independent professional advice. Schroder International Selection Fund is referred to as Schroder ISF. ^ 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 30/04/2018, Source: Schroders. Fund performance based on Class A Acc; NAV-NAV in USD with net income re-invested. The fund size quoted includes all classes of the fund. Investment involves risks. Past performance is not indicative of future performance. Please refer to the relevant offering documents for fund details including risk factors. This material, including the website, is issued by Schroder Investment Management (Hong Kong) Limited and has not been reviewed by the SFC. Management Company: Schroder Investment Management (Luxembourg) S.A., 5, rue Höhenhof, L-1736 Senningerberg, Grand Duchy of Luxembourg Supervisory Authority: Commission de Surveillance du Secteur Financier, 110, route d Arlon, L-2991 Luxembourg 2

4

5

6

7 Schroder ISF - Global High Yield A Acc 施羅德環球基金系列 - 環球高收益 A 類股份累積單位 As at 截至 30/04/2018 Important Information 重要事項 The fund invests primarily in below investment grade fixed and floating rate securities. The fund invests in debt securities which may be subject to interest rate, credit and counterparty risks. The fund may invest in unrated and non-investment grade securities which are exposed to greater credit risks. The fund may use derivatives extensively for investment purposes (with a net leverage exposure of over 100%). Derivatives exposure may involve higher counterparty, liquidity and valuation risks. In adverse situations, the fund may suffer significant losses from their derivative usage for hedging. For share classes with a general dividend policy, expenses will be paid out of capital rather than out of gross income. The amount of distributable income therefore increases and the amount so increased may be considered to be dividend paid out of capital. Share classes with a fixed dividend policy may pay out both income and capital in distributions. Where distributions are paid out of capital, this amounts to a return or withdrawal of part of your original investment or capital gains attributable to that and may result in an immediate decrease in the net asset value of shares. You should not make any investment decision solely based on this document. Please read the relevant offering document carefully for further fund details including risk factors. 基金主要投資於信貸評級低於投資級別的定息及浮息證券 基金投資於債務證券或承受利率 信貸及交易對手方風險 基金可投資於未獲評級和不具投資級別的證券而承受較大的信貸風險 基金可為投資目的而大量運用金融衍生工具 ( 淨槓桿風險可能超過資產淨值的 100%) 運用金融衍生工具可涉及較高的對手方 流通性及估值的風險 在不利的情況下, 基金可能會因為使用金融衍生工具作對沖之用而承受重大虧損 一般股息政策的股份類別, 支出將從資本而並非總收入中支付, 可分派收入因此增加, 而增加的部份可被視為從資本中支付的股息 定息政策的股份類別, 其股息可能同時由收入及資本中支付 從資本中支付的派息相當於從閣下原本投資的金額中, 或從該等金額賺取的資本收益中退回或提取部份款項, 可能導致每股資產淨值即時下跌 閣下不應僅倚賴本文件而作出任何投資決定 請詳閱有關銷售文件以得悉基金之詳情包括風險因素 Investment Objective 投資目標 The fund aims to provide income and capital growth by investing in below investment grade fixed and floating rate securities issued worldwide. 基金旨在通過投資於全球各地發行的低於投資級別的定息和浮息證券, 以提供收益和資本增值 Cumulative Performance 累積表現 (%) YTD Fund 基金 (%) Fund 基金 3 Mths 1 Yr 3 個月 1 年 年初至今 Rating Breakdown 信貸評級分佈 (%) AAA 1.44 AA 3.24 A BBB 6.09 BB B àccc NR 0.64 Geographical Breakdown 地區資產分佈 (%) United States 美國 United Kingdom 英國 6.79 Italy 意大利 5.10 Luxembourg 盧森堡 5.10 Netherlands 荷蘭 5.07 Canada 加拿大 4.01 France 法國 3.61 Ireland 愛爾蘭 1.92 Others 其他 8.67 Cash & Cash Equivalents 現金及現金等值 Yrs 3 年 5 Yrs 5 年 Annual Return 基金總回報 (%) Since Launch 自設立日起 Fund 基金 Top Holdings 主要投資 (%) United States Treasury Bill 0% 19/07/ Sprint 7.125% 15/06/ L Brands 6.75% 01/07/ Scientific Games 10% 01/12/ BWAY Holding 7.25% 15/04/ Golden Nugget 6.75% 15/10/ Post Holdings 5% 15/08/ Jack Ohio Finance 6.75% 15/11/ Telecom Italia 5.303% 30/05/ CCO Holdings 5% 01/02/ Key Information 基金資料 Unit NAV 單位資產淨值 Hi/Lo (Past 12 mths) 最高 / 最低 ( 過去十二個月 ) Annualised Return (3 yrs) 年度回報率 (3 年 ) Annualised Volatility (3 yrs) 年均相對波幅 (3 年 ) USD ( 美元 ) USD / ( 美元 ) 4.28% 4.77% Beta (3 yrs) 貝他 (3 年 ) 0.88 Sharpe Ratio (3 yrs) 0.68 夏普比率 (3 年 ) Initial Charge up to 首次認購費上限 3.00% Management Fee 管理年費 1.00% p.a. Fund Manager 基金經理 M. Metcalf, K. Leidman & M. Scott Launch Date 推出日期 Fund Size 資產值 (million 百萬元 ) Financial Year End 財政年度結算日 Schroders InvestLink Code 施羅德資訊通 編號 Share Class Available 可認購單位類別 A Acc - USD (A 類累積 - 美元 ) A Dis - USD (A 類收息 - 美元 ) A Dis - HKD (A 類收息 - 港元 ) A Dis - AUD Hedged (A 類收息 - 澳元對沖 ) Distribution Frequency 派息次數 N/A M M M TM èmorningstar Rating 晨星星號評級 04/04 USD2, ( 美元 ) 31/ Bloomberg Ticker 彭博代碼 SCHHYDA LX SCHHYAD LX SCGHYAHLX SISGADALX ISIN CODE ISIN 號碼 LU LU LU LU Schroder International Selection Fund is referred to as Schroder ISF. Source : Schroders. NAV-NAV in USD with net income re-invested. The Fund size quoted includes all classes of the Fund. Investment involves risks. Past performance is not indicative of future performance. Please refer to the relevant offering documents for fund details including risk factors. This material, including the website, is issued by Schroder Investment Management (Hong Kong) Limited and has not been reviewed by the SFC. Distribution Frequency: M = Monthly; Q = Quarterly; S = Semi-annual; A = Annual; N/A = Not applicable èmorningstar, Inc. All Rights Reserved. Morningstar Rating (TM) as at 30/04/2018. 資料來源 : 施羅德投資 基金表現以資產淨值價 ( 美元 ) 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 派息次數 : M = 每月 ; Q = 每季 ; S = 每半年 ; A = 每年 ; N/A = 不適用 èmorningstar 版權所有 晨星星號評級數據截至 30/04/2018 Download the offering documents here 從此處下載銷售文件

8 Schroder International Selection Fund Société d Investissement à Capital Variable 5, rue Höhenhof, L-1736 Senningerberg Grand Duchy of Luxembourg Tel: Fax: IMPORTANT: This letter is important and requires your immediate attention. If you have any questions about the content of this letter, you should seek independent professional advice. The directors of Schroder International Selection Fund accept full responsibility for the accuracy of the information contained in this letter and confirm, having made all reasonable enquiries, that to the best of our knowledge and belief there are no other facts the omission of which would make any statement misleading. 28 February 2018 Dear Shareholder, Schroder International Selection Fund (the Company ) Currency Hedged Shares The Company offers shares in its sub-funds (the Funds ) in a range of currencies to assist Shareholders in managing their exposure to changes in exchange rates. Given the cost and effort involved in offering a currency hedging service on currency hedged Share Classes, the board of directors of the Company has decided to introduce a fee on all currency hedged Share Classes (the Hedging Charge ) of up to 0.03% per annum of the net asset value per share with effect from 30 March 2018 (the Effective Date ). The Hedging Charge will be payable to the Company's management company, Schroder Investment Management (Luxembourg) S.A. (the Management Company ), which provides the currency hedging service. The ongoing charge figures of the currency hedged Share Classes of the Funds will increase as a result of the introduction of the Hedging Charge. Please refer to the Appendix to this letter for the estimated ongoing charge figures of the currency hedged Share Classes of the Funds. All other key features of the Funds, including other fees chargeable in respect of the Funds and the risk profile of the Funds, will remain the same. The introduction of the Hedging Charge will not result in any change in the operation and/or manner in which the Funds are being managed and will not materially prejudice the rights or interests of the existing Shareholders. The Hong Kong offering documents of the Company (comprising the Prospectus, Hong Kong Covering Document and Product Key Facts Statements) will be revised in due course to reflect the above changes. The Hong Kong offering documents are available free of charge at 1 or upon request from the Hong Kong Representative of the Company, Schroder Investment Management (Hong Kong) Limited (the Representative ) at Level 33, Two Pacific Place, 88 Queensway, Hong Kong. We hope that you will choose to remain invested in the currency hedged Share Classes of the Funds following these changes, but if you wish to redeem your holding or to switch into a non-currency hedged Share Class of the Funds authorized by the Securities and Futures Commission ( SFC ) 2 before the Effective Date you may do so at any time up to and including the deal cut-off at 5:00 p.m. Hong Kong time on 29 1 This website has not been reviewed by the SFC. 2 SFC authorization is not a recommendation or endorsement of a scheme nor does it guarantee the commercial merits of a scheme or its performance. It does not mean the scheme is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. R.C.S. Luxembourg B For your security telephone conversations may be recorded

9 Page 2 of 5 March We will execute your redemption or switch instructions in accordance with the provisions of the Company's Prospectus, free of charge, although in some countries local paying agents, correspondent banks or similar agents might charge transaction fees. Local agents might also have a local deal cut-off which is earlier than that described above, so please check with them to ensure that your instructions reach the Representative in Hong Kong before the deal cut-off at 5:00 p.m. Hong Kong time on 29 March Costs of making these changes including regulatory and shareholder communication costs will be borne by the Management Company. If you have any questions or would like more information, please contact your usual professional advisor or the Representative at Level 33, Two Pacific Place, 88 Queensway, Hong Kong or calling the Schroders Investor Hotline on (+852) Yours faithfully, Cord Rodewald Authorised Signatory Alastair Woodward Authorised Signatory

10 Page 3 of 5 Appendix Fund Share Classes Current ongoing charge figures over a year 3 Asian Bond Absolute Return Class A EUR Hedged Acc 1.62% 1.65% Class A1 EUR Hedged Acc 2.02% 2.05% Class A1 EUR Hedged Dis 2.02% 2.05% Class A GBP Hedged Dis 1.62% 1.65% Asian Dividend Maximiser Class A EUR Hedged Dis 1.97% 2.00% Class A AUD Hedged Dis 1.97% 2.00% Class A1 EUR Hedged Dis 2.47% 2.50% Asian Local Currency Bond Class A EUR Hedged Dis 1.26% 1.29% Asian Total Return Class A EUR Hedged Acc 1.87% 1.90% Emerging Markets Class A EUR Hedged Acc 1.88% 1.91% Class A AUD Hedged Acc 1.88% 1.91% Emerging Markets Debt Absolute Return Emerging Multi-Asset Income Class A EUR Hedged Dis 1.87% 1.90% Class A EUR Hedged Acc 1.87% 1.90% Class A1 EUR Hedged Acc 2.27% 2.30% Class A1 EUR Hedged Dis 2.27% 2.30% Class A GBP Hedged Dis 1.87% 1.90% Class A AUD Hedged Acc 1.87% 1.90% Class A1 AUD Hedged Dis 2.27% 2.30% Class A EUR Hedged Dis 1.66% 1.69% Class A AUD Hedged Dis 1.66% 1.69% EURO Corporate Bond Class A EUR Hedged Acc 1.05% 1.08% Class A USD Hedged Acc 1.05% 1.08% EURO Equity Class A USD Hedged Acc 1.85% 1.88% Class A GBP Hedged Acc 1.85% 1.88% European Dividend Class A USD Hedged Dis 1.87% 1.90% Maximiser * European Smaller Class A USD Hedged Acc 1.87% 1.90% Companies Global Bond Class A EUR Hedged Dis 0.95% 0.98% Class A EUR Hedged Acc 0.95% 0.98% Class A1 EUR Hedged Acc 1.50% 1.53% Class A1 EUR Hedged Dis 1.50% 1.53% Class A USD Hedged Acc 0.95% 0.98% Global Cities Real Estate Class A EUR Hedged Acc 1.86% 1.89% Estimated ongoing charge figures over a year taking into account the introduction of the Hedging Charge 4 3 The ongoing charges figure is based on the annualised expenses for the interim period ended 30 June This figure may vary from year to year. 4 The ongoing charges figure is an estimate based on the annualized expenses for the interim period ended 30 June 2017 with adjustments to reflect the introduction of the Hedging Charge with effect from the Effective Date. The actual figure may be different from this estimated figure and may vary from year to year. For the avoidance of doubt, the Hedging Charge will not exceed 0.03% per annum of the net asset value per share. The name Dividend Maximiser refers to the investment objective of the fund to enhance the fund dividend by generating extra income from selling covered call options on the underlying equity portfolio and this may reduce the potential capital growth and future income of the fund. It does not suggest that the manager would aim at seeking the highest possible dividends for the fund. The fund is not authorized by the SFC under the Code on Real Estate Investment Trusts.

11 Page 4 of 5 Global Climate Change Equity Class A1 EUR Hedged Acc 2.36% 2.39% Class A EUR Hedged Acc 1.87% 1.90% Class A1 EUR Hedged Acc 2.37% 2.40% Global Corporate Bond Class A EUR Hedged Dis 1.05% 1.08% Class A EUR Hedged Acc 1.05% 1.08% Class A1 EUR Hedged Acc 1.50% 1.53% Class A1 EUR Hedged Dis 1.50% 1.53% Class A AUD Hedged Acc 1.05% 1.08% Class A1 AUD Hedged Dis 1.50% 1.53% Global Credit Duration Hedged Class A USD Hedged Dis 1.09% 1.12% Class A USD Hedged Acc 1.09% 1.12% Class A1 USD Hedged Acc 1.54% 1.57% Global Credit Income Class A AUD Hedged Dis 1.49% 1.52% Class A EUR Hedged Acc 1.49% 1.52% Class A EUR Hedged Dis 1.49% 1.52% Glass A GBP Hedged Dis 1.49% 1.52% Global Dividend Maximiser * Class A EUR Hedged Dis 1.86% 1.89% Class A EUR Hedged Acc 1.86% 1.89% Class A1 EUR Hedged Dis 2.36% 2.39% Class A AUD Hedged Dis 1.86% 1.89% Global Energy Class A EUR Hedged Acc 1.86% 1.89% Global Equity Class A AUD Hedged Acc 1.63% 1.66% Global Gold Class A EUR Hedged Acc 1.88% 1.91% Class A GBP Hedged Dis 1.88% 1.91% Global High Yield Class A EUR Hedged Dis 1.30% 1.33% Class A EUR Hedged Acc 1.30% 1.33% Class A1 EUR Hedged Acc 1.75% 1.78% Class A1 EUR Hedged Dis 1.75% 1.78% Class A AUD Hedged Dis 1.30% 1.33% Class A1 AUD Hedged Dis 1.75% 1.78% Global Inflation Linked Bond Class A USD Hedged Acc 0.95% 0.98% Class A1 USD Hedged Acc 1.50% 1.53% Global Multi-Asset Income Class A EUR Hedged Dis 1.58% 1.61% Class A EUR Hedged Acc 1.58% 1.61% Class A1 EUR Hedged Acc 2.08% 2.11% Class A1 EUR Hedged Dis 2.08% 2.11% Class A GBP Hedged Dis 1.58% 1.61% Class A GBP Hedged Acc 1.58% 1.61% Class A AUD Hedged Dis 1.58% 1.61% Global Sustainable Growth Class A EUR Hedged Acc 1.69% % 6 Class A EUR Hedged Dis 1.69% % 6 Japanese Equity Class A EUR Hedged Acc 1.60% 1.63% Class A1 EUR Hedged Acc 2.35% 2.38% 5 The ongoing charges figure is an estimate based on the annualized expenses for the interim period ended 30 June 2017 with adjustments to reflect the reduction of management fee with effect from 2 November The actual figure may be different from this estimated figure and may vary from year to year. 6 The ongoing charges figure is an estimate based on the annualized expenses for the interim period ended 30 June 2017 with adjustments to reflect the reduction of management fee with effect from 2 November 2017 and the introduction of the Hedging Charge with effect from the Effective Date. The actual figure may be different from this estimated figure and may vary from year to year. For the avoidance of doubt, the Hedging Charge will not exceed 0.03% per annum of the net asset value per share.

12 Page 5 of 5 Class A USD Hedged Acc 1.60% 1.63% Class A1 USD Hedged Acc 2.35% 2.38% Japanese Opportunities Class A EUR Hedged Acc 1.86% 1.89% Class A1 EUR Hedged Acc 2.36% 2.39% Class A USD Hedged Acc 1.86% 1.89% Class A1 USD Hedged Acc 2.36% 2.39% Japanese Smaller Companies Class A EUR Hedged Acc 1.87% 1.90% Class A USD Hedged Acc 1.87% 1.90% QEP Global Active Value Class A EUR Hedged Acc 1.60% 1.63% Strategic Bond Class A EUR Hedged Dis 1.30% 1.33% Class A EUR Hedged Acc 1.30% 1.33% Class A1 EUR Hedged Acc 1.75% 1.78% Class A1 EUR Hedged Dis 1.75% 1.78% Class A GBP Hedged Dis 1.30% 1.33% UK Equity Class A EUR Hedged Acc 1.60% 1.63% Class A USD Hedged Acc 1.60% 1.63% US Dollar Bond Class A EUR Hedged Dis 0.95% 0.98% Class A EUR Hedged Acc 0.95% 0.98% Class A1 EUR Hedged Dis 1.50% 1.53% Class A GBP Hedged Dis 0.96% 0.99% US Large Cap Class A EUR Hedged Acc 1.60% 1.63% Class A1 EUR Hedged Acc 2.35% 2.38% US Small & Mid-Cap Equity Class A EUR Hedged Acc 1.85% 1.88% Class A1 EUR Hedged Acc 2.35% 2.38%

13 PRODUCT KEY FACTS Schroder International Selection Fund Global High Yield Issuer: Schroder Investment Management (Luxembourg) S.A. April 2018 This statement provides you with key information about this product. This statement is a part of the offering document. You should not invest in this product based on this statement alone. Quick facts Management company: Investment manager: Depositary: Schroder Investment Management (Luxembourg) S.A. Schroder Investment Management North America Inc., located in the United States of America, internal delegation J.P. Morgan Bank Luxembourg S.A. Ongoing charges over a year*: Class A1 AUD Hedged Dis 1.75% Class A USD Acc 1.29% Class A EUR Acc 1.29% Class A USD Dis 1.29% Class A EUR Hedged Acc 1.30% Class A1 USD Acc 1.74% Class A EUR Hedged Dis 1.30% Class A1 USD Dis 1.74% Class A1 EUR Hedged Acc 1.75% Class A HKD Dis 1.29% Class A1 EUR Hedged Dis 1.75% Class A AUD Hedged Dis 1.30% Dealing frequency: Base currency: Dividend policy: Daily USD A, A1 and D Accumulation share classes Dividend will not be distributed but will be reinvested into the fund. A, A1 and D Distribution share classes The board of directors generally has discretion as to whether or not to make any distribution save for the Distribution share classes with fixed dividend policy which are subject to the disclosures below. Distributions may be paid out of capital and reduce the fund s net asset value. In respect of Distribution share classes with fixed dividend policy, the distribution amount per share is calculated as follows: dividend rate distribution frequency over a year net asset value per share on the record date. Details of the Distribution share classes with fixed dividend policy are set out below: Fixed Distribution Share Class Currency Distribution Frequency over a year Dividend Rate Class A1 USD Dis USD Monthly (12) 6.0% per annum Investors should note that a positive distribution yield does not imply a positive return. The board of directors will periodically review fixed distribution share classes and reserves the right to make changes. 1

14 Schroder International Selection Fund Global High Yield Financial year end of this fund: 31 December Minimum investment: A, A1 and D share classes: Initial EUR1,000 or USD1,000 (or equivalent); Subsequent investment EUR1,000 or USD1,000 (or equivalent) * The ongoing charges figure is based on the expenses for the year ended 31 December This figure may vary from year to year. Note: As of the date of this document, Class D shares of the fund are not being offered to the public in Hong Kong. What is this product? This is a sub-fund of Schroder International Selection Fund, a mutual fund domiciled in Luxembourg and its home regulator is Commission de Surveillance du Secteur Financier. Objectives and investment strategy Investment Objective The fund aims to provide income and capital growth by investing in below investment grade fixed and floating rate securities issued worldwide. Investment Policy The fund invests at least two-thirds of its assets in fixed and floating rate securities that have a below investment grade credit rating (as measured by Standard & Poor s or any equivalent grade of other credit rating agencies). The securities may be denominated in various currencies and issued by governments, government agencies, supra-nationals and companies worldwide. The fund may invest up to 10% of its assets in contingent convertible bonds. The fund is not subject to any limitation on the portion of its net asset value that may be invested in any country (including emerging market countries), region or sector. The fund may also invest in money market instruments and hold cash. Under exceptional circumstances (e.g. market crash or major crisis), the fund may be invested temporarily up to 100% of its net asset value in liquid assets such as bank deposits, certificates of deposit, commercial paper and treasury bills for cash flow management. Use of financial derivative instruments ( FDI ) The fund may use FDI, long and short, with the aim of achieving investment gains, reducing risk or managing the fund more efficiently. The fund may use leverage. FDI may be employed for instance to generate additional income from exposure to credit risk in purchasing or selling protection through credit default swaps, adjusting the fund s duration through the tactical use of interest related FDI, generating additional income through inflation or volatility linked FDI or increasing its currency exposure through the use of currency related FDI. FDI could also be employed to create synthetic instruments. Such FDI include over-the-counter and/or exchange traded options, futures, warrants, swaps, forward contracts and/or a combination of the above. 2

15 Schroder International Selection Fund Global High Yield The fund may use FDI extensively for investment purposes but it is not limited to a particular strategy regarding the usage of FDI. The fund employs the relative Value-at-Risk (VaR) approach to measure its global risk exposure. The relative VaR approach is used for funds where a VaR benchmark reflecting the investment strategy which the fund is pursuing is defined. The expected level of leverage of the fund is 100% of the total net assets by using sum of notionals approach or in the range of 0% to 100% by using commitment approach. The expected level of leverage may be higher when volatility decreases sustainably, when interest rates are expected to change or when credit spreads are expected to widen or tighten. The level of leverage using sum of notionals approach is calculated as (i) the sum of notionals of all FDI entered into by the fund expressed as a percentage of the fund s net asset value and (ii) any additional leverage generated by the reinvestment of collateral in relation to efficient portfolio management transactions. Under the commitment approach, the fund s financial derivative positions are converted into the market value of the equivalent position in the underlying asset; or the notional value or the price of the futures contract where they are more conservative. Netting and hedging rules may also be used. The expected level of leverage is an indicator and not a regulatory limit. What are the key risks? Investment involves risk. Please refer to the offering document for details including the risk factors. 1. Risk relating to investment in debt securities Credit and counterparty risk Investment in debt securities is subject to the credit/default risk of the issuer which may also adversely affect the settlement of the securities. Interest rate risks Investment in the fund is subject to interest rate risk. In general, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise. Below investment grade and unrated debt securities Investments in fixed income securities below investment grade or unrated are generally subject to higher degree of counterparty risk, credit risk, volatility risk, liquidity risk and risk of loss of principal and interest than higher rated securities. Credit ratings risk Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness of the security and/or issuer at all times. Credit downgrading risk The credit rating of debt securities or their issuers may subsequently downgraded. In the event of such downgrading, the value of the fund may be adversely affected. The investment manager may not dispose of such securities immediately and the fund may therefore be subject to additional risk of loss. Liquidity and volatility risk Securities not listed or rated or actively traded may have low liquidity and higher volatility. The prices of such securities may be subject to fluctuations. The bid and offer spread of their price may be high and the fund may therefore incur significant trading costs and may even suffer losses when selling such instruments. Valuation risk Valuation of the fund s investment may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the net asset value calculation of the fund. 2. Sovereign debt risk Investment in sovereign debt obligations issued or guaranteed by governments or their agencies of certain developing countries and certain developed countries may expose the fund to political, social and economic risks. A government entity s willingness or ability to repay principal and interest due in a timely manner may be affected by various factors. In the event that a government entity defaults on its sovereign debt, holders of sovereign debt, including the fund, may be requested to participate in the rescheduling of such debt and to extend further loans to the relevant government entity. The fund may suffer significant losses in such events. 3

16 Schroder International Selection Fund Global High Yield 3. FDI The fund may use FDI extensively to meet its specific investment objective. There is no guarantee that the performance of FDI will result in a positive effect for the fund. The leverage element/component of derivatives can result in a loss significantly greater than the amount invested in the FDI by the fund. FDI exposure may lead to a high risk of significant capital loss. Risks associated with FDI include: Credit risk and Counterparty risk The fund will be subject to the risk of the inability of any counterparty through or with which the fund conducts the FDI transactions to perform its obligations, whether due to insolvency, bankruptcy or other causes. Liquidity risk There may be possible absence of a liquid secondary market for any particular FDI at any time. The fund may be unable to sell illiquid FDI at an advantageous time or price and results in a reduction of returns. Valuation risk The fund is subject to the risk of mispricing or improper valuation of FDI. Volatility risk The fund is subject to the risk of higher volatility of the returns as FDI usually have a leverage component. Over-the-counter ( OTC ) transaction risks FDI traded in OTC markets may be more volatile and less liquid. Its prices may include an undisclosed dealer mark-up which a fund may pay as part of the purchase price. Hedging risk There is no guarantee that the desired hedging instruments will be available or hedging techniques will achieve their desired result. In adverse situations, the use of hedging instruments may become ineffective in hedging and the fund may suffer significant losses. 4. Concentrated geographical locations The fund investing in concentrated geographical locations may be subject to a higher level of risks comparing to a fund investing in a more diversified portfolio/strategy. The value of the fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the relevant geographical locations. 5. Emerging and less developed markets The fund may invest in emerging and less developed markets. Investing in emerging and less developed markets is subject to greater risks than investing in securities of developed countries such as ownership and custody risks, political and economic risks, market and settlement risks, liquidity and volatility risk, legal and regulatory risks, execution and counterparty risk, and currency risk, which may adversely affect the net asset value per share of the fund and investors may as a result suffer losses. 6. Risks relating to distributions For distribution share classes with a general dividend policy, expenses will be paid out of capital rather than out of gross income. The amount of distributable income therefore increases and the amount so increased may be considered to be dividend paid out of capital; capital growth will be reduced and in periods of low growth capital erosion may occur. Distribution share classes with a fixed dividend policy will distribute the dividends based on a fixed amount or fixed percentage of the net asset value per share. This may result in share classes with fixed distributions either paying out both income and capital in distribution payments, or not substantially distributing all the investment income which a share class has earned. 4

17 Schroder International Selection Fund Global High Yield Investments in distribution share classes with fixed dividend policy are not an alternative to a savings account or fixed-interest paying investment. The percentage of distributions paid by distribution share classes with fixed dividend policy is unrelated to expected or past income or returns of these share classes or the fund. The distribution can thus be higher or lower than the income and return that were effectively realised. Distribution share classes with fixed dividend policy will continue to distribute in periods that the fund has negative returns or is making losses, which further reduces the net asset value of the distribution Share Classes with fixed dividend policy. In extreme circumstances, investors may not be able to get back the original investment amount. Investors should note that a positive distribution yield does not imply a positive return. Distribution share classes with a fixed dividend policy do not distribute a fixed amount and the constant percentage of distribution results in higher absolute distributions when the net asset value of the relevant Distribution share classes with fixed dividend policy is high, and lower absolute distributions when the net asset value of the relevant distribution share classes with fixed dividend policy is low. You should note that in the circumstances where the payment of distributions are paid out of capital, this represents and amounts to a return or withdrawal of part of the amount you originally invested or capital gains attributable to that and may result in an immediate decrease in the net asset value of shares. The distribution amount and net asset value of the currency hedged share class may be adversely affected by differences in the interest rates of the reference currency of the currency hedged share classes and the fund s base currency, resulting in an increase in the amount of distribution that is paid out of capital and hence a greater erosion of capital than other non-currency hedged share classes. 7. Risks relating to hedging and the hedged classes In respect of the share classes which the management company of the fund has the ability to fully hedge the shares of such share classes in relation to the fund currency, currency exposures or currency hedging transactions within the fund s portfolio will not be considered. The aim of currency hedged share class is to provide you with the performance returns of the fund s investments by reducing the effects of exchange rate fluctuations between the share class s and the fund s base currency. However there is no assurance that the hedging strategies employed will be effective. Where undertaken, the effects of this hedging will be reflected in the net asset value and, therefore, in the performance of such share class. Similarly, any expenses arising from such hedging transactions will be borne by the share class in relation to which the expenses have been incurred. It should be noted that these hedging transactions may be entered into whether the reference currency is declining or increasing in value relative to the relevant fund currency and so, where such hedging is undertaken it may substantially protect investors in the relevant share class against a decrease in the value of the fund currency relative to the reference currency, but it may also preclude investors from benefiting from an increase in the value of the fund currency. There can be no assurance that the currency hedging employed will fully eliminate the currency exposure to the reference currency. 8. Currency risks Assets and share classes may be denominated in currencies other than USD and some may not be freely convertible. The fund may be adversely affected by changes in foreign exchange rates and exchange rate controls of the currencies in which securities are held, the reference currencies of the share classes and the US Dollar. This exposes all share classes of the fund to exchange rate fluctuations and currency risk. It may not be practicable or possible to hedge against such foreign exchange/currency risk exposure. 5

18 Schroder International Selection Fund Global High Yield How has the fund performed? 60% 45% 30% 15% 0% -15% -30% 41.2% 15.9% 12.8% 13.3% 6.8% 6.7% 1.9% % -2.3% -23.3% Note Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested. These figures show by how much the fund s Class A USD Accumulation increased or decreased in value during the calendar year being shown. Performance data has been calculated in USD 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: 2004 Class A USD Accumulation launch date: 2004 The management company views the Class A USD Accumulation, being the retail share class denominated in the base currency of the fund, as the most appropriate representative share class of the fund. Note: The performance of these years was achieved under circumstances that no longer apply. During these years, there was material change(s) to the fund, namely, reduction of fee(s). Is there any guarantee? This fund does not have any guarantees. You may not get back the full amount of money you invest. What are the fees and charges? Charges which may be payable by you You may have to pay the following fees when dealing in the shares of the fund. Fee What you pay Share class A A1 D Subscription fee (Initial charge) Up to 3.00% of the total subscription amount Up to 2.00% of the total subscription amount Nil Switching fee (Switching charge) Redemption fee (Redemption charge) Up to 1.00% of the value of the shares to be switched Nil 6

19 Schroder International Selection Fund Global High Yield Ongoing fees payable by the fund The following expenses will be paid out of the fund. They affect you because they reduce the return you get on your investments. Annual rate (as a % of the fund s value) Share class A A1 D Management fee 1.00% 1.00% 1.00% Depositary fee Up to 0.005% Performance fee Nil Administration fee Up to 0.25% Distribution charge Nil 0.50% 1.00% Custody safekeeping fee Up to 0.3% Transaction fees (charged by the Depositary) Up to USD150 per transaction Fund accounting and valuation fees Up to 0.015% Note: As of the date of this document, Class D shares of the fund are not being offered to the public in Hong Kong. Other fees You may have to pay other fees when dealing in the shares of the fund. Please refer to the offering document for fees payable by the fund. Additional information You generally buy and redeem shares at the fund s relevant net asset value ( NAV ) after Schroder Investment Management (Hong Kong) Limited receives your request, directly or via a distributor, in good order at or before 5pm HK time, being the fund s dealing cut-off time on each dealing day of the fund. Before placing your subscription or redemption orders, please check with your distributor for the distributor s internal dealing cut-off time (which may be earlier than the fund s dealing cut-off time). A dividend calendar including details on the distribution frequency and the dividend calculation basis for all available distribution share classes and a composition of the dividend payments (i.e. the percentages of distribution being paid out of capital and net distributable income) for the last twelve months for each of these distribution share classes (i) with a variable distribution policy or (ii) with a fixed dividend policy and paying dividends out of capital are also available from the Schroder Investment Management (Hong Kong) Limited on request and from the Schroders Internet site ( Past performance information of other share classes offered to Hong Kong investors is available online at The net asset value of this fund is calculated and the price of shares is published on each dealing day. They are available online at This website has not been reviewed by the SFC. 7

20 Schroder International Selection Fund Global High Yield 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. 8

21 施羅德環球基金系列可變資本投資有限公司 5, rue Höhenhof, L-1736 Senningerberg Grand Duchy of Luxembourg 電話 : 傳真 : 此乃重要函件, 務請閣下垂閱 閣下如對本函件的內容有任何疑問, 應尋找獨立專業顧問的意見 施 羅德環球基金系列的董事就本函件所載資料之準確性承擔全部責任, 並在作出一切合理查詢後確認, 盡其所知所信, 本函件並無遺漏足以令本函件的任何陳述具誤導成分的其他事實 親愛的股東 : 施羅德環球基金系列 ( 本公司 ) 貨幣對沖股份類別 本公司為其子基金 ( 各基金 ) 提供各種貨幣的股份, 以協助股東管理其所承擔的匯率變動風險 考慮到為貨幣對沖股份類別提供貨幣對沖服務所涉及的成本及努力, 本公司董事會已決定自 2018 年 3 月 30 日起 ( 生效日期 ), 就所有貨幣對沖股份類別徵收年率最高達每股資產淨值 0.03% 的費用 ( 對沖費 ) 對沖費將支付給提供貨幣對沖服務的本公司管理公司 Schroder Investment Management (Luxembourg) S.A.( 管理公司 ) 各基金貨幣對沖股份類別的全年經常性開支比率會因徵收對沖費而增加 請參閱本函附錄, 以了解各基金 貨幣對沖股份類別估計的全年經常性開支比率 各基金所有其他主要特點, 包括應向各基金收取的其他費用及各基金的風險概況將維持不變 徵收對沖費 將不會導致管理各基金的營運及 / 或方式發生任何變動, 亦不會對現有股東的權利或利益造成重大損害 本公司的香港發售文件 ( 包括發行章程, 香港說明文件及產品資料概要 ) 將在適當時間修訂, 以反映上述 變更 香港發售文件可於 1 免費索取, 或向本公司位於香港金鐘道 88 號太古廣 場二座 33 字樓的香港代表人, 施羅德投資管理 ( 香港 ) 有限公司 ( 代表 ) 要求查閱 我們希望在此等更改後, 閣下仍將選擇投資於各基金的貨幣對沖股份類別, 但如閣下有意在生效日前將閣 2 下在各基金的持股贖回或轉換至本公司獲證券及期貨事務監察委員會 ( 證監會 ) 認可子基金的非貨幣對沖股份類別, 則閣下可於 2018 年 3 月 29 日 ( 包括該日 ) 下午 5 時正 ( 香港時間 ) 交易截止時間前任何時間進行有關贖回或轉換 我們將根據本公司發行章程的條款免費執行閣下的贖回或轉換指示, 惟在 1 該網站未經證監會審閱 2 證監會的認可並非對計劃作出推薦或認許, 亦非對計劃的商業利弊或其業績表現的保證 證監會的認可不表示計劃適合所有投資者, 或認許計 劃適合任何特定投資者或某類別投資者 R.C.S. Luxembourg B For your security telephone conversations may be recorded

22 第 2 頁, 共 6 頁 某些國家, 當地付款代理人 往來銀行或類似代理人可收取交易費用 當地代理人亦可實施一個較上述 時間為早的當地交易截止時間, 故請與該等代理人確定, 以確保閣下的指示可於 2018 年 3 月 29 日下午 5 時正 ( 香港時間 ) 交易截止時間前送抵在香港的代表 作出此等更改的費用, 包括監管及股東通訊的費用將由管理公司承擔 閣下如有任何疑問或需要更多資料, 請聯絡閣下常用的專業顧問或代表 ( 地址為香港金鐘道 88 號太古廣 場二座 33 字樓 ) 或致電施羅德投資熱線電話 (+852) 查詢 Cord Rodewald 授權簽署 Alastair Woodward 授權簽署 謹啟 2018 年 2 月 28 日

23 第 3 頁, 共 6 頁 附錄 基金股份類別現時全年經常性估計全年經常性開支比 開支比率 3 率 ( 反映徵收對沖費 ) 4 亞洲債券 A 類別 ( 歐元對沖累積 ) 1.62% 1.65% A1 類別 ( 歐元對沖累積 ) 2.02% 2.05% A1 類別 ( 歐元對沖收息 ) 2.02% 2.05% A 類別 ( 英鎊對沖收息 ) 1.62% 1.65% 亞洲股息 A 類別 ( 歐元對沖收息 ) 1.97% 2.00% A 類別 ( 澳元對沖收息 ) 1.97% 2.00% A1 類別 ( 歐元對沖收息 ) 2.47% 2.50% 亞幣債券 A 類別 ( 歐元對沖收息 ) 1.26% 1.29% 亞洲總回報 A 類別 ( 歐元對沖累積 ) 1.87% 1.90% 新興市場 A 類別 ( 歐元對沖累積 ) 1.88% 1.91% A 類別 ( 澳元對沖累積 ) 1.88% 1.91% 新興市場債券 A 類別 ( 歐元對沖收息 ) 1.87% 1.90% A 類別 ( 歐元對沖累積 ) 1.87% 1.90% A1 類別 ( 歐元對沖累積 ) 2.27% 2.30% A1 類別 ( 歐元對沖收息 ) 2.27% 2.30% A 類別 ( 英鎊對沖收息 ) 1.87% 1.90% A 類別 ( 澳元對沖累積 ) 1.87% 1.90% A1 類別 ( 澳元對沖收息 ) 2.27% 2.30% 新興市場股債收息 A 類別 ( 歐元對沖收息 ) 1.66% 1.69% A 類別 ( 澳元對沖收息 ) 1.66% 1.69% 歐元企業債券 A 類別 ( 歐元對沖累積 ) 1.05% 1.08% A 類別 ( 美元對沖累積 ) 1.05% 1.08% 歐元股票 A 類別 ( 美元對沖累積 ) 1.85% 1.88% A 類別 ( 英鎊對沖累積 ) 1.85% 1.88% 歐洲股息 A 類別 ( 美元對沖收息 ) 1.87% 1.90% 歐洲小型公司 A 類別 ( 美元對沖累積 ) 1.87% 1.90% 3 全年經常性開支比率是根據截至 2017 年 6 月 30 日的半年度年率化費用計算, 每年均可能有所變動 4 全年經常性開支比率為估計數字, 是根據截至 2017 年 6 月 30 日的半年度年率化費用 ( 經調整以反映生效日期起對沖費的徵收 ) 計算 實際數 字可能與此估計數字不同, 每年均可能有所變動 為免生疑問, 對沖費將不會超過年率每股資產淨值 0.03%

24 第 4 頁, 共 6 頁 環球債券 A 類別 ( 歐元對沖收息 ) A 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖收息 ) A 類別 ( 美元對沖累積 ) 環球城市房地產股票 # A 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖累積 ) 環球氣候變化策略 A 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖累積 ) 環球企業債券 A 類別 ( 歐元對沖收息 ) A 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖收息 ) A 類別 ( 澳元對沖累積 ) A1 類別 ( 澳元對沖收息 ) 環球信貸存續期對冲 A 類別 ( 美元對沖收息 ) A 類別 ( 美元對沖累積 ) A1 類別 ( 美元對沖累積 ) 環球收息債券 A 類別 ( 澳元對沖收息 ) A 類別 ( 歐元對沖累積 ) A 類別 ( 歐元對沖收息 ) A 類別 ( 英鎊對沖收息 ) 環球股息 A 類別 ( 歐元對沖收息 ) A 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖收息 ) A 類別 ( 澳元對沖收息 ) 環球能源 A 類別 ( 歐元對沖累積 ) 環球股票 A 類別 ( 澳元對沖累積 ) 環球黃金 A 類別 ( 歐元對沖累積 ) A 類別 ( 英磅對沖收息 ) 環球高收益 A 類別 ( 歐元對沖收息 ) 0.95% 0.98% 0.95% 0.98% 1.50% 1.53% 1.50% 1.53% 0.95% 0.98% 1.86% 1.89% 2.36% 2.39% 1.87% 1.90% 2.37% 2.40% 1.05% 1.08% 1.05% 1.08% 1.50% 1.53% 1.50% 1.53% 1.05% 1.08% 1.50% 1.53% 1.09% 1.12% 1.09% 1.12% 1.54% 1.57% 1.49% 1.52% 1.49% 1.52% 1.49% 1.52% 1.49% 1.52% 1.86% 1.89% 1.86% 1.89% 2.36% 2.39% 1.86% 1.89% 1.86% 1.89% 1.63% 1.66% 1.88% 1.91% 1.88% 1.91% 1.30% 1.33% # 本基金並非獲證監會根據 房地產投資信託基金守則 認可的基金

25 第 5 頁, 共 6 頁 A 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖收息 ) A 類別 ( 澳元對沖收息 ) A1 類別 ( 澳元對沖收息 ) 環球通貨膨脹連繫債券 A 類別 ( 美元對沖累積 ) A1 類別 ( 美元對沖累積 ) 環球股債收息 A 類別 ( 歐元對沖收息 ) A 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖收息 ) A 類別 ( 英鎊對沖收息 ) A 類別 ( 英鎊對沖累積 ) A 類別 ( 澳元對沖收息 ) 環球持續增長 A 類別 ( 歐元對沖累積 ) A 類別 ( 歐元對沖收息 ) 日本股票 A 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖累積 ) A 類別 ( 美元對沖累積 ) A1 類別 ( 美元對沖累積 ) 日本優勢 A 類別 ( 歐元對沖累積 ) A1 類別 ( 歐元對沖累積 ) A 類別 ( 美元對沖累積 ) A1 類別 ( 美元對沖累積 ) 日本小型公司 A 類別 ( 歐元對沖累積 ) A 類別 ( 美元對沖累積 ) 環球計量精選價值 A 類別 ( 歐元對沖累積 ) 策略債券 A 類別 ( 歐元對沖收息 ) A 類別 ( 歐元對沖累積 ) 1.30% 1.33% 1.75% 1.78% 1.75% 1.78% 1.30% 1.33% 1.75% 1.78% 0.95% 0.98% 1.50% 1.53% 1.58% 1.61% 1.58% 1.61% 2.08% 2.11% 2.08% 2.11% 1.58% 1.61% 1.58% 1.61% 1.58% 1.61% 1.69% % % % % 1.63% 2.35% 2.38% 1.60% 1.63% 2.35% 2.38% 1.86% 1.89% 2.36% 2.39% 1.86% 1.89% 2.36% 2.39% 1.87% 1.90% 1.87% 1.90% 1.60% 1.63% 1.30% 1.33% 1.30% 1.33% 5 全年經常性開支比率為估計數字, 是根據截至 2017 年 6 月 30 日的半年度年率化費用 ( 經調整以反映 2017 年 11 月 2 日起管理費的降低 ) 計算 實際數字可能與此估計數字不同, 每年均可能有所變動 6 全年經常性開支比率為估計數字, 是根據截至 2017 年 6 月 30 日的半年度年率化費用 ( 經調整以反映 2017 年 11 月 2 日起管理費的降低及生效 日期起對沖費的徵收 ) 計算 實際數字可能與此估計數字不同, 每年均可能有所變動 為免生疑問, 對沖費將不會超過年率每股資產淨值 0.03%