Fund Code ISIN Bloomberg Lipper Cumulative Performance 2(%) YTD 1-Yr 3-Yr 5-Yr 3-Yr p.a. 5-Yr p.a. Calendar Year Performance 2(%)

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1 Barings Asia Balanced Fund Morningstar RatingOverall Morningstar 5 Overall Morningstar Rating ««««Asset Management Company of the Asset Management Company of the Year, Asia Equity 6 Year, Asia Equity As of The Fund may be subject to risks, such as investment, equities and equity-related securities, fixed income securities, interest rate, credit and downgrading of investment grade securities, counterparty, currency risks and the risks of investing in small and mid-capitalisation companies and convertible bonds. 2. The Fund s investment may be concentrated in Asia and the value of the Fund may be more volatile. Investment in emerging markets may involve increased risks including liquidity, currency/currency control, political and economic uncertainties, legal and taxation, settlement, custody, and volatility risks. 3. The Fund may invest in derivatives for investment or efficient portfolio management purposes which may involve counterparty/credit, liquidity, valuation, volatility and over-the-counter transaction risks. Exposure to derivatives may lead to a high risk of significant loss by the Fund. 4. Dividends may be paid out of capital gains and/or gross income while charging all or part of its fees and expenses to capital at the discretion of the Managers. This would effectively represent paying dividend out of capital, resulting in an increase in distributable income, and therefore amount to a return or withdrawal of part of an investor s original investment or any capital gains attributable to that original investment. Payment of dividends may result in an immediate reduction of the net asset value of the Fund per unit. 5. Investors may suffer substantial loss of their investments in the Fund. ObjectivesInvestment ObjectivesInvestment Objectives1 The Fund is aimed specifically, but not exclusively, at meeting the investment requirements of Hong Kong-based retirement schemes and its investment objective and policies have been tailored accordingly, namely, to achieve a long-term annualised rate of return of 2% per annum in excess of Hong Kong wage inflation when measured in Hong Kong dollar terms. In order to deliver against the desired objective, the Fund will hold a diversified portfolio of Asia, international equity markets and fixed income securities. Investment may also be made in cash and money market instruments where considered appropriate in light of market conditions. PerformanceCumulative 2 Cumulative Performance % YTD 1-Yr 3-Yr 5-Yr 3-Yr p.a. 5-Yr p.a. Class A USD Acc BenchmarkBenchmark Year PerformanceCalendar Year 2 Calendar Year Performance % Class A USD Acc BenchmarkBenchmark DetailsFund 3 Fund Details ManagerFund Fund Manager SizeFund Fund Size Date of Primary Inception Share ClassInception Date Date of of Share Class Primary Share Class CurrencyBase Base PriceNAV NAV Price Khiem Do US$108.3 Million USD of InvestmentsNumber of Number of Investments 217 AvailableUnit Unit Class AvailableShare Class Share Class Available UmbrellaUmbrella InvestmentMinimum Minimum Investment US$ Income/ Accumulation Class A USD Inc Class A USD Acc Class C USD Acc Barings Global Opportunities Umbrella Fund US$5,000 ChargeInitial Initial Charge Up to 5.00% FeeManagement Fee DateEx. Dividend Ex. Dividend Date 1.00% p.a. 1 January, 1 April, 1 July, 1 October Paid ByDividend Paid Dividend Paid By 31 March, 30 June, 30 September, 31 December IndexBenchmark Index 4 Hong Kong Wage Inflation + 2% Performance Characteristics BenchmarkBenchmark Fund 4 Standard Deviation Alpha Beta Sharpe Ratio Tracking Error (Ex Post) Fund size and NAV price listed above relate to Class A USD Acc. PerformancePerformance 2 (Cash Value of US$1000) Barings Asia Balanced Fund Class A USD Acc IndexBenchmark 4 Index AllocationGeographical 3 Geographical Allocation (%) Asia Pacific Hong Kong China Japan Singapore Taiwan Korea Other Asia Pacific America USA Europe UK Europe (ex UK) Other/GEMS Total InvestmentsTop 3 Top Equity US Treasury 2.125% US Treasury 0.25% Tencent US Treasury 5.25% Ping An Insurance US Treasury 3.0% China Resources Beer China Construction Bank Shenzhou Intl Grp CSPC Pharmaceutical Group Bonds Cash & Currency Total %

2 Fund Code ISIN Bloomberg Lipper Cumulative Performance 2(%) YTD 1-Yr 3-Yr 5-Yr 3-Yr p.a. 5-Yr p.a. Calendar Year Performance 2(%) Notes Class A USD Inc IE00B237VG42 BRGAST2 ID Class A USD Acc IE BRGASTI ID A full copy of the investment objective can be obtained from the Manager. The fund name was changed as of The investment objective of the Fund remains unchanged. Performance Source 2018 Morningstar, Inc. All Rights Reserved. Data as at , investment return in denominated currency of the respective share class on a NAV per unit basis, with gross income reinvested. US / HK dollar-based investors are therefore exposed to fluctuations in the exchange rate of the relevant currency against US / HK dollar. Please note that the use of a benchmark index is for comparative purposes only. The information contained herein: (i) is proprietary to Morningstar and / or its content providers; (ii) may not be copied or distributed; and (iii) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Unless otherwise stated, all fund portfolio figures within this factsheet are as at the end of the month shown at the top of front page. Source: Barings / Northern Trust. Performance figures are shown net of fees and charges, in US dollars on a NAV per unit basis, with gross income reinvested. The performance comparator to was 45% MSCI World, 10% MSCI All Countries Asia ex Japan, 20% MSCI Zhong Hua, 25% Citigroup WGBI total, Gross Return. However, all performance comparison data has been changed to HK wage inflation +2% in order to reflect the Fund s investment objective. Please note that the Hong Kong wage inflation data is only available in arrears on a quarterly calendar basis. Where information is unavailable the latest data is an estimate based on the last published quarterly return. Source: Barings / Bloomberg / Census And Statistics Department Hong Kong. Overall Morningstar rating as of (Asia Balanced Category). Rating is for Class A USD Acc only, other classes may have different performance characteristics. Barings was awarded Asset Management Company of the Year, Asia - Equity in The Asset Triple A Awards 2018, based on Barings performance over the preceding calendar year. Important Information This document is not intended as an offer or solicitation for the purchase or sale of any financial instrument. This document has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. Investment involves risks. Past performance is not indicative of future performance. Please refer to the offering documents for the details of the Fund and all the risk factors. Investors should not only base on this document alone to make investment decisions. This document is issued by Baring Asset Management (Asia) Limited. It has not been reviewed by the Securities and Futures Commission of Hong Kong Baring Asset Management (Asia) Limited 35/F Gloucester Tower 15 Queen's Road Central Hong Kong CONTACT US: Calls may be recorded and monitored

3 PRODUCT KEY FACTS Barings Global Opportunities Umbrella Fund Barings Asia Balanced Fund April 2018 Baring International Fund Managers (Ireland) Limited This statement provides you with key information about Barings Asia Balanced Fund (the Fund ). This statement is a part of the offering document. You should not invest in the Fund based on this statement alone. QUICK FACTS Fund Manager & AIFM Investment Manager Sub-Investment Manager Depositary Ongoing Charges over a year # : Dealing frequency Base currency Dividend policy* Financial year end Baring International Fund Managers (Ireland) Limited (the Manager ) Baring Asset Management Limited (internal delegation, in the United Kingdom) Baring Asset Management (Asia) Limited (internal delegation, in Hong Kong) Northern Trust Fiduciary Services (Ireland) Limited Distribution Unit Classes (Inc) Accumulation Unit Classes (Acc) Class A USD Inc: 1.59% Class A USD Acc: 1.59% Class C USD Acc: 2.59% # The ongoing charges figure is based on the ongoing expenses chargeable to the respective unit class for the 12-month period ended 31 January 2018 expressed as a percentage of the average net asset value of the respective unit class for the same period, and based on information in the latest interim report for the period ended 31 January This figure may vary from year to year. Daily USD For Distribution Unit Classes (Inc), dividends, if declared, will be paid. For Accumulation Unit Classes (Acc), no dividends will be paid. * The Fund normally pays dividends out of surplus net income. However, the Manager may also distribute such part of any capital gains less realised and unrealised capital losses as, in its opinion, is appropriate to maintain a satisfactory level of distribution. Payment of distributions out of unrealised capital gains amount to distribution out of capital under Hong Kong regulatory disclosure requirements and payment of distributions under such circumstances may result in an immediate reduction of the Fund s net asset value per unit. 30 April Min. investment: Initial min. investment: Subsequent min. investment: Distribution Unit Classes (Inc) Class A USD Inc USD5,000 USD500 Accumulation Unit Classes (Acc) Class A USD Acc USD5,000 USD500 Class C USD Acc USD5,000 USD500 1

4 Barings Asia Balanced Fund WHAT IS THIS PRODUCT? Barings Asia Balanced Fund is a sub-fund of Barings Global Opportunities Umbrella Fund, which is an open-ended unit trust domiciled in Ireland. Its home regulator is the Central Bank of Ireland. OBJECTIVES AND INVESTMENT STRATEGY The Fund is aimed specifically, but not exclusively, at meeting the investment requirements of Hong Kong based retirement schemes and its investment objective and policies have been tailored accordingly, namely, to achieve a long-term annualised real rate of return in excess of 2% per annum above Hong Kong wage inflation, when measured in Hong Kong Dollar terms. Accordingly, the Fund will normally include a diversified range of international equities and debt securities, generally with a significant exposure to Asian equities. Investment may also be made in cash and money market instruments where considered appropriate in light of market conditions. Equities include equity-related instruments such as convertible securities, warrants, depository receipts and other equityrelated securities. Debt securities may include both fixed and floating rate securities issued by governments, local authorities, public international bodies and corporate issuers rated at least BBB- by Standard & Poor s rating agency or equivalent. The Manager intends that approximately 35% of the assets of the Fund will be invested in Asian equities such as equities listed in Hong Kong, Japan, Singapore, Malaysia, Korea and Thailand, approximately 40% in equities listed in other markets and approximately 25% in fixed income securities denominated in major currencies. However, this is an indication only of the intended initial asset allocation and the Manager may change this allocation if they consider it to be in the interests of Unitholders to do so. The policy of the Manager is to maintain a well-diversified portfolio in terms of asset classes, countries and currencies. Derivatives will only be used by the Fund for efficient portfolio management purposes but not investment purposes. WHAT ARE THE KEY RISKS? Investment involves risks. Please refer to the offering document for details including the risk factors. 1. Investment risk The Fund s investment portfolio may fall in value due to any of the key risk factors below and therefore your investment in the Fund may suffer losses. The Fund is an investment fund and is not in the nature of a bank deposit. There is no guarantee of repayment of principal. 2. Risks of investment in equities and equity-related securities The Fund s investment in equity securities is subject to general market risks, whose value may fluctuate due to various factors, such as changes in investment sentiment, political and economic conditions and issuer-specific factors. The Fund may invest in equity-related securities such as warrants, depository receipts and other equity-related securities. These are usually issued by a broker, an investment bank or a company and are therefore subject to the risk of insolvency or default of the issuer. If there is no active market in these instruments, this may lead to liquidity risk. Further, investment in equity-linked securities may lead to dilution of performance of the Fund when compared to the other funds which invest directly in similar underlying assets due to fees embedded in these instruments. The aforesaid circumstances may adversely affect the net asset value per unit of the Fund. Securities exchanges typically have the right to suspend or limit trading in any instrument traded on that exchange. Governments or the regulators may also implement policies that may affect the financial markets. A suspension could render it impossible for the Investment Manager or an underlying fund manager to liquidate positions and thereby expose the Fund to losses and may have a negative impact on the Fund. 3. Risks of investment in convertible bonds Convertible bonds are a hybrid between debt and equity, permitting holders to convert into shares in the company issuing the bond at a specified future date. As such, convertibles will be exposed to equity movement and greater volatility than straight bond investments. Investments in convertible bonds are subject to the same interest rate risk, credit risk, liquidity risk and prepayment risk associated with comparable straight bond investments. 2

5 4. Emerging market investment risks Barings Asia Balanced Fund The Fund may invest in Asian equities and debt securities including companies in emerging markets. Investing in these markets may involve additional risks than investing in more developed markets, such as liquidity risks, currency risks/control, political and economic uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree of volatility. Market liquidity in the emerging markets may be lower than the more developed markets so that the purchase and sale of holding may take longer. The Fund may also encounter difficulties in disposing of securities or financial derivative instruments at their fair market price. High market volatility and potential settlement difficulties in certain markets may also result in significant fluctuations in the prices of the securities traded on such markets and thereby may adversely affect the value of the Fund. 5. Risks associated with investment in specific countries The Fund s investment may be concentrated in Asia. The value of the Fund may be more volatile than that of a fund having a more diverse portfolio of investments. The value of the Fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the Asian markets. 6. Investment in small-capitalisation/mid-capitalisation companies The stock of small-capitalisation and mid-capitalisation companies may have lower liquidity and their prices are more volatile to adverse economic developments than those of larger capitalisation companies in general. Risks include economic risks, such as lack of product depth, limited geographical diversification, increased sensitivity to the business cycle and organisational risk, such as concentration of management and shareholders and key-person dependence. Shares in smaller companies can be more difficult to buy and sell, resulting in less flexibility, and sometimes higher costs, in implementing investment decisions. 7. Risk of investment in fixed income securities Investment in fixed income securities is subject to interest rate and credit risks. Lower-rated securities will usually offer higher yields than higher-rated securities to compensate for the reduced creditworthiness and increased risk of default that these securities carry. The volume of transactions effected in certain international bond markets may be appreciably below that of the world s largest markets, such as the United States. Accordingly, the Fund s investment in such markets may be less liquid and their prices may be more volatile than comparable investments in securities trading in markets with larger trading volumes. Moreover, the settlement periods in certain markets may be longer than in others which may affect portfolio liquidity. 8. Interest rate risk The fixed income securities in which the Fund invested are interest rate sensitive, which means that their value will fluctuate as interest rate fluctuate. An increase in interest rates will generally reduce the value of the fixed income securities. 9. Credit risk and downgrading of investment grade securities risk There can be no assurance that the issuers or guarantor, if any, of securities or other instruments in which the Fund may invest will not be subject to credit difficulties, leading to either the downgrading of such securities or instruments, or to the loss of some or all of the sums invested in such securities or instruments or payments due on such securities or instruments. The credit rating of a debt instrument or its issuer may subsequently be downgraded. In the event of such downgrading, the value of the Fund may be adversely affected. The Investment Manager may or may not be able to dispose of the debt instruments that are being downgraded. 10. Counterparty risk Counterparty risk is the risk that an organization does not pay out on a bond or other trade or transaction when it is supposed to. If a counterparty defaults on its obligations and the Fund is delayed or prevented from exercising its rights with respect to the investments in its portfolio, it may experience a decline in the value of its position, lose income and/or incur costs associated with asserting its rights. 3

6 11. Currency risk Barings Asia Balanced Fund The underlying investments of the Fund may be denominated in currencies other than the base currency of the Fund. Also, a class of units of the Fund may be designated in a currency other than the base currency of the Fund. The net asset value of the Fund may be affected unfavourably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls. 12. Risks associated with derivatives The Fund may have exposure to derivatives for investment purposes or for efficient portfolio management. Risks associated with derivatives include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-thecounter transaction risk. The leverage element/component of a derivative can result in a loss significantly greater than the amount invested in the derivative by the Fund. Exposure to derivatives may lead to a high risk of significant loss by the Fund. 13. Charges deducted from capital / Risks relating to distribution The Fund normally pays its management fee and other fees and expenses out of income (in accordance with Irish accounting guidelines). However, where insufficient income is available, the Manager may pay some or all of its management fee and other fees and expenses out of capital and out of both realised and unrealised capital gains less realised and unrealised capital losses. Where the management fee and other fees and expenses are deducted from the Fund s capital rather than income generated by the Fund, this may constrain growth and could erode capital. The Fund normally pays dividends out of surplus net income. However, the Manager may also distribute such part of any capital gains less realised and unrealised capital losses as, in its opinion, is appropriate to maintain a satisfactory level of distribution. Payment of distributions out of unrealised capital gains amount to distribution out of capital under Hong Kong regulatory disclosure requirements and that payment of distributions under such circumstances amounts to a return or withdrawal of part of an investor s original investment or from any capital gains attributable to that original investment. Any distributions involving payment of unrealised capital gains as dividends (which means effectively paying dividend out of capital) may result in an immediate reduction of the Fund s net asset value per unit. 4

7 Barings Asia Balanced Fund HOW HAS THE FUND PERFORMED? Barings Asia Balanced Fund - Class A USD Acc 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% -10.0% -20.0% -30.0% -40.0% -50.0% -39.2% 36.3% 3.5% 2.8% 11.1% 5.1% -2.6% -0.1% 22.8% 11.6% 11.5% 9.5% 7.5% 6.1% 3.7% 6.2% 6.4% 5.7% 5.0% 0.3% Barings Asia Balanced Fund Class A USD Acc Benchmark: 2% per annum above Hong Kong wage inflation Source: Barings 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 Class A USD Acc increased or decreased in value during the calendar year being shown. Performance data has been calculated in US dollars, including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Class A USD Acc is selected as representative unit class as it is a retail unit class authorised in Hong Kong and is denominated in the Fund s base currency. The Fund s investment objective and policies have been tailored to achieve a long-term annualised real rate of return in excess of 2% per annum above Hong Kong wage inflation, when measured in Hong Kong Dollar terms. Therefore, 2% per annum above Hong Kong wage inflation is reflected as the benchmark of the Fund. Fund launch date: 31 May 1996 Class A USD Acc launch date: 31 May 1996 IS THERE ANY GUARANTEE? The 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 units of the Fund. Fee Subscription fee (Preliminary charge) Switching fee (Conversion charge) Redemption fee (Redemption charge) What you pay Class A Units: up to 5% of the net asset value per unit Class C Units: Nil Nil Class A Units: Nil* Class C Units: up to 1% of the net asset value per unit 5

8 Ongoing fees payable by the Fund Barings Asia Balanced Fund The following expenses will be paid out of the Fund. They affect you because they reduce the return you get on your investments. Annual rate (as a % of the Fund s net asset value ( NAV )), unless otherwise specified Management fee 1.0% of the Fund s NAV attributable to the Class** Trustee fees (Depositary fees) Up to 0.025%** Performance fee Not applicable Administration fee 0.375%** Distribution fee The Fund pays a distribution fee to the distributor. Class A Units: not applicable Class C Units: 1% per annum of the Fund s NAV attributable to Class C Units * At least 1 months notice will be given to investors should any redemption fees be charged. ** The Management fee, the Depositary fee and the Administration fee is payable to the Manager, who pays the Investment Manager, the Depositary and the Administrator. The sum of the Management fee, the Administration fee and the Depositary fees will not exceed 2%. The Management fee may be increased up to maximum level as specified in the offering document by giving at least 3 months prior notice to investors. Please refer to the offering document for further details. Other fees You may have to pay other fees when dealing in the units of the Fund. The Fund will also bear the costs which are directly attributable to it, as set out in the offering document. ADDITIONAL INFORMATION You generally subscribe and redeem units at the Fund s next-determined NAV per unit attributable to the relevant unit class after your request is received in good order by Baring Asset Management (Asia) Limited, our Hong Kong Representative, by 5 p.m. Hong Kong time on a Hong Kong Business Day 1 which is also a Dealing Day or the Manager by 12 noon Irish time on a Dealing Day. Dealing Days are every business day on which banks in both Ireland and the United Kingdom are open for business (excluding Saturday or Sunday). Before placing your subscription, redemption and/or conversion orders, please check with your distributor for the distributor s internal dealing deadline (which may be earlier than the Fund s dealing deadline). The NAV of the Fund is calculated and the prices of unit of the relevant unit class are published for each Dealing Day, and are available online at 2. The composition of the dividends (i.e. the relative amounts paid out of net distributable income and capital) for the last 12 months can be obtained either through the Hong Kong Representative s website at 2 or from the Hong Kong Representative on request. Investors may obtain the past performance information of other unit classes offered to Hong Kong investors from 2. 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. 1 Hong Kong Business Day means a day (other than a Saturday or Sunday) on which banks in Hong Kong are open for normal business, provided that where as a result of a number 8 typhoon signal, black rainstorm warning or other similar event, the period during which banks in Hong Kong are open on any day is reduced, such day shall not be a Hong Kong Business Day unless the Manager and the Depositary determine otherwise or such other day or days as the Manager and the Depositary may determine. 2 This website has not been reviewed by the SFC and it may contain information on funds which are not authorised by the SFC. 6

9 霸菱傾亞均衡基金 Morningstar 晨星綜合評級 5 Morningstar 晨星綜合評級 ««««年度資產管理公司獎 ( 亞洲 股票 ) 6 年度資產管理公司獎 ( 亞洲 股票 ) 截至 2018 年 6 月 30 日 1. 本基金可能涉及投資 股票及股票相關證券 固定收益證券 利率 信貸及投資級別證券的評級下降 對手方 貨幣風險及投資於小型及中型公司及可換股債券所附帶的風險 2. 本基金可集中投資於亞洲, 而導致本基金的價值可能較為波動 投資於新興市場或須承受包括流動性 貨幣 貨幣管制 政治及經濟不確定性 法律及稅務 結算 託管及波動性等額外風險 3. 本基金可投資於衍生工具作投資或有效投資組合管理用途 與衍生工具相關的風險包括對手方 信貸 流動性 估值 波動性及場外交易等風險 投資於衍生工具可能導致本基金承受重大虧損的高度風險 4. 基金經理可酌情以資本收益及 / 或總收入支付股息並以資本支付基金部分或全部費用及開支 這將被視為實際上從資本支付股息, 而導致基金可分派收入增加, 因此從資本支付股息即相當於從投資者的原有投資或該原有投資應佔的任何資本收益中退還或提取部分款項 支付股息可導致本基金的每單位資產淨值即時下跌 5. 投資者投資於本基金可能蒙受重大損失 基金目標摘要基金目標摘要 1 本基金具體旨在但不限於符合以香港為基地的退休計劃之投資規定, 並按此度身訂造投資目標和政策, 即是以港元計算, 謀取每年回報率比香港工資通脹高出 2% 的長線回報 為了實現投資目標, 本基金將持有一個多元化的投資組合, 由亞洲 國際股票市場和定息證券所組成 此外, 本基金亦可根據市場情況, 在其認為適當的情況下投資於現金和貨幣市場工具 累積表現累積表現 2 % 自年初起 1 年 3 年 5 年 3 年平均 5 年平均 A 類別美元累積 基準基準 年度表現年度表現 2 % A 類別美元累積 基準基準 基金資料基金資料 3 基金經理基金經理 基金規模基金規模 杜敬創 百萬美元 主要單位類別成立日期主要單位類別成立日期 基本貨幣基本貨幣 資產淨值價格資產淨值價格 美元 持有投資數目持有投資數目 217 單位類別單位類別 可認購類別可認購類別 傘子基金傘子基金 最低投資額最低投資額 美元 收益 / 累積 A 類別美元收益 A 類別美元累積 C 類別美元累積 霸菱環球組合傘子基金 5,000 美元 首次收費首次收費最高 5.00% 管理費管理費每年 1.00% 除息日除息日 股息分派日股息分派日 1 月 1 日 4 月 1 日 7 月 1 日 10 月 1 日 不遲於 3 月 31 日 6 月 30 日 9 月 30 日 12 月 31 日 基準指數基準指數 4 香港工資通脹 +2% 表現特性 基金 基準基準 4 標準差 阿爾法系數 貝他系數 夏普比率 歷史跟蹤誤差 基金規模及資產淨值價格為 A 類別美元累積之資料 過往表現過往表現 2 (1000 美元的現金價值 ) 地區分佈地區分佈 3 霸菱傾亞均衡基金 A 類別美元累積基準指數基準指數 4 (%) 股票 債券 現金及貨幣 總計 亞太區 香港 中國 日本 新加坡 台灣 韓國 其他亞太區 美洲 美國 歐洲 英國 歐洲 ( 英國除外 ) 其他 新興市場 總數 主要投資主要投資 3 US Treasury 2.125% US Treasury 0.25% 騰訊控股 US Treasury 5.25% 中國平安保險 US Treasury 3.0% 華潤啤酒中國建設銀行申洲國際石藥集團 %

10 基金編號 ISIN 彭博理栢 2 累積表現 (%) 自年初起 1 年 3 年 5 年 3 年平均 5 年平均 2 年度表現 (%) 備註 投資目標完整文本可向經理索取 A 類別美元收益 IE00B237VG42 BRGAST2 ID A 類別美元累積 IE BRGASTI ID 表現資料來源 Morningstar, Inc. 版權所有 截至 2018 年 6 月 30 日為止, 投資收益以有關的計價貨幣計值及資產淨值計算, 總收益用於再投資 因此, 以美元 / 港元作出投資的投資者, 需承受有關外幣兌美元 / 港元兌換率的波動的風險 基準指數僅作為比較之用 本文所載資料 :(i) 屬 Morningstar 及 / 或其內容提供商專有 ;(ii) 不得複印或分發 ; 及 (iii) 不保證準確 完整或適時 Morningstar 或其內容提供商概不就因使用本資料而引致的任何損害或損失承擔責任 過往表現並不保證未來業績 除另有註明外, 本基金單張內所載各項基金投資組合數據均為截至首頁上方所示月份結束日止 資料來源 : 霸菱 / Northern Trust 表現數據經已扣除費用及收費, 以美元計值, 按每單位資產淨值計, 總收益用於再投資 截至 2014 年 2 月 28 日, 基準指數為 45% MSCI 世界指數 MSCI 亞洲所有國家 ( 日本除外 ) 指數 20% MSCI 中華指數 25% 花旗集團世界政府債券總額回報指數 但為了反映本基金的投資目標, 所有表現比較數據已改為香港工資通脹 +2% 敬請留意, 香港工資通脹數據僅會在每個曆季結束後提供 當無法取得有關資料時, 最新數據是根據最後公佈的季度回報進行的估計 資料來源 : 霸菱 / 彭博資訊 / 香港政府統計處 Morningstar 晨星綜合評級 : 截至 2018 年 6 月 30 日 ( 亞洲股債混合類別 ) 評級只適用於本基金的 A 類別美元累積, 並不代表其他類別的表現 霸菱榮獲 2018 年 財資 Triple A 年度資產管理公司 ( 亞洲 股票 ) 獎項, 此乃基於獲獎年份計過去一年期霸菱的表現頒發 重要資料 本文件並不構成買賣任何金融工具的要約或邀請 本文件僅供資訊用途, 不應被視為提供或依賴為會計 法律或稅務建議 投資涉及風險 過往表現不可作為未來表現的指標 投資者應細閱發售文件所載基金詳情及風險因素 投資者不應僅根據本文件而作出投資決定 本文件由霸菱資產管理 ( 亞洲 ) 有限公司發行, 並未經香港證監會審閱 霸菱資產管理 ( 亞洲 ) 有限公司香港皇后大道中 15 號告羅士打大廈 35 樓 請致電 : 與本公司聯絡通話可能被紀錄及監察

11 產品資料概覽 霸菱環球組合傘子基金霸菱傾亞均衡基金 2018 年 4 月 Baring International Fund Managers (Ireland) Limited 本概覽提供有關霸菱傾亞均衡基金 ( 本基金 ) 的重要資料 本概覽是發售文件的一部分 閣下切勿單憑本概覽作出投資於本基金的決定 資料便覽 基金經理及 AIFM( 另類投資基金經理 ) Baring International Fund Managers (Ireland) Limited( 基金經理 ) 投資經理 Baring Asset Management Limited( 內部委派, 英國 ) 副投資經理霸菱資產管理 ( 亞洲 ) 有限公司 ( 內部委派, 香港 ) 保管人 全年經常性開支比率 # : 交易頻次 基準貨幣 股息政策 * 財政年度年結日 Northern Trust Fiduciary Services (Ireland) Limited 分派單位類別 ( 收益 ) 累積單位類別 ( 累積 ) A 類別美元收益 : 1.59% A 類別美元累積 : 1.59% C 類別美元累積 : 2.59% # 經常性開支比率是根據截至 2018 年 1 月 31 日的 12 個月期間, 各個單位類別應支付的經常性開支, 相對各個單位類別於同一期間的平均資產淨值的百分比表示, 同時亦根據截至 2018 年 1 月 31 日的期間之最新中期報告的資料計算 此比率每年均可能有所變動 每日 美元 就分派單位類別 ( 收益 ) 而言, 如有宣派, 將會派發股息 就累積單位類別 ( 累積 ) 而言, 將不會派發股息 * 本基金一般會從盈餘收入淨額支付股息 然而, 基金經理亦可能會就其認為維持合理分派水平而言合適的情況下, 在扣除變現及未變現資本虧損後, 分派部分資本收益 根據香港監管披露規定, 自未變現資本收益中分派款項相當於從資本中作出分派, 在該等情況下作出的分派款項可能會導致本基金的每單位資產淨值即時減少 4 月 30 日 最低投資額 : 首次最低投資額 : 其後最低投資額.. 分派單位類別 ( 收益 ) A 類別美元收益 5,000 美元 500 美元 累積單位類別 ( 累積 ) A 類別美元累積 5,000 美元 500 美元 C 類別美元累積 5,000 美元 500 美元 1

12 霸菱傾亞均衡基金 這是甚麼產品? 霸菱傾亞均衡基金為霸菱環球組合傘子基金的子基金 霸菱環球組合傘子基金為設於愛爾蘭的開放式單位信託基金 其成立地監管機構為愛爾蘭中央銀行 目標及投資策略 本基金特意 ( 但非獨有地 ) 為滿足香港退休計劃的投資需要而設, 其投資目標及政策亦按此制訂, 即達致較香港工資年增長率高 2%p.a. 的長遠年均實質回報率 ( 以港元計 ) 故此, 本基金一般會包含多元化的國際股票及債務證券, 通常會大量投資於亞洲股票, 另外亦會因應市場狀況, 在適當情況下投資於現金及貨幣市場工具 股票包括股票相關投資產品, 例如可換股證券 認股權證 預託證券及其他股票相關證券 債務證券可包括由政府 本地官方機構 公共國際組織及企業發行商發行的定息及浮息證券, 此等發行機構必須獲標準普爾的 BBB-( 或同等評級 ) 或以上評級 基金經理擬以本基金資產約 35% 投資於亞洲股票, 例如在香港 日本 新加坡 馬來西亞 韓國及泰國上市的股票 ; 約 40% 投資於在其他市場上市的股票 ; 以及約 25% 投資於以主要貨幣作面值的定息證券 然而, 這僅為初步的資產分配意向, 基金經理可按其認為符合單位持有人利益而調整分配 基金經理的政策是維持將投資組合妥善分散投資於不同資產類別 國家及貨幣 本基金將僅為有效投資組合管理目的運用衍生工具, 概不會為投資目的而運用 有什麼主要風險? 投資涉及風險 請參閱發售文件以了解風險因素等資料 1. 投資風險 本基金的投資組合的價值可能因下文任何主要風險因素而下跌, 閣下於本基金的投資因而可能蒙受損失 本基金為一項投資基金, 不屬銀行存款性質, 故不保證返還本金 2. 投資於股票及股票相關證券的風險 本基金於股本證券的投資須承受一般市場風險, 其價值可能因多項因素 ( 例如投資情緒 政治及經濟情況變化以及發行人特定因素 ) 而波動 本基金可投資於股票相關證券 ( 例如認股權證 預託證券及其他股票相關證券 ) 該等投資工具一般由經紀 投資銀行或公司發行, 並因而須承受發行人的無力償債或違責風險 如該等投資工具並無活躍市場, 可能會導致流動性風險 此外, 與直接投資於類似相關資產的其他基金相比, 投資於股票掛鈎證券可能會因該等工具附帶的費用而攤薄本基金的業績表現 上述情況可能會對本基金的每單位資產淨值構成不利影響 證券交易所一般有權暫停或限制任何於該交易所買賣的任何工具 政府或監管機構亦可實施可能影響金融市場的政策 暫停買賣可令投資經理或相關基金經理無法清盤, 因而令本基金蒙受虧損, 並可能對本基金造成負面影響 3. 投資於可換股債券的風險 可換股債券是債務與股票之間的混合體, 准許持有人於指定的未來日期轉換為發行債券的公司之股份 因此, 可換股債券將面對股本變動及較傳統債券投資承受較大波動性 於可換股債券的投資承受與可比較傳統債券投資相關的相同利率風險 信貸風險 流動性風險及提前還款風險 2

13 4. 新興市場投資風險 霸菱傾亞均衡基金 本基金可投資於亞洲股票及債務證券, 包括新興市場的公司 投資於此等市場可能較投資於已發展市場涉及額外風險, 如流動性風險 貨幣風險 管制 政治及經濟不確定因素 法律及稅務風險 結算風險 託管風險, 且波幅很可能偏高 新興市場的市場流動性可能較已發展市場的流動性為低, 故購買及銷售持股可能較為需時 本基金亦可能須面對難以按證券或金融衍生工具的公平市場價格出售的問題 若干市場的高市場波動性及潛在結算困難亦可能導致在該等市場買賣的證券價格大幅波動, 並因而可能對本基金的價值造成不利影響 5. 投資於特定國家附帶的風險 本基金的投資可能集中於亞洲 相對於投資組合更為多元化的基金, 本基金的價值可能較為波動 本基金的價值可能較易受到影響亞洲市場之不利經濟 政治 政策 外匯 流動性 稅務 法律或監管事件所影響 6. 投資於小型 中型公司的風險 一般而言, 小型及中型公司的股票可能有較低流動性, 且其價格相對較大型公司的股價於面對不利經濟發展時會更為波動 風險包括經濟風險, 例如有關產品深度欠奉 地域分散有限 對業務週期的敏感度較高及組織風險 ( 例如集中管理及依賴股東及主要人員等 ) 較小型公司的股份可能較為難以買賣, 以致執行投資決定時的靈活性較低, 並有時可能須承擔較高成本 7. 投資於固定收益證券的風險 8. 利率風險 投資於固定收益證券須承受利率及信貸風險 與較高評級證券相比, 較低評級證券一般將提供較高收益, 以補償該等證券附帶的較低信用可靠性及較高的違約風險 與全球最大的數個市場, 例如美國的市場相比, 若干國際債券市場的交易量可能明顯較低 因此, 本基金在該等市場的投資的流動性可能較低, 其價格亦可能較在交易量較大的市場的類似證券投資更為波動 此外, 若干市場的結算期可能較其他市場的結算期為長, 因而可能影響投資組合的流動性 本基金所投資的固定收益工具對利率敏感, 意指其價值會如利率波動般波動 利率上升一般將減低固定收益證券的價值 9. 信貸風險及投資級別證券的評級下降風險 10. 對手方風險 概不保證本基金可能投資的證券或其他工具的發行人或保證人 ( 如有 ) 將不會面臨信貸困難, 以致該等證券或工具的評級下降, 或導致損失部分或全部投資於該等證券或工具的金額, 或支付予該等證券或工具的款項 債務工具或其發行人可能隨後被下調信貸評級 在評級下降的情況下, 本基金的價值可能會受到不利影響 投資經理未必能夠出售該等被降級的債務工具 對手方風險為組織未能就債券或其他交易或買賣支付款項的風險 如對手方並無履行責任及本基金被延遲或阻止行使其於組合投資的權利, 本基金持倉的價值可能會下跌 失去收入及 或產生與維護其權利有關的成本 3

14 11. 貨幣風險 霸菱傾亞均衡基金 本基金的相關投資可能以本基金的基本貨幣以外的貨幣計值 此外, 本基金的單位類別可指定以本基金的基本貨幣以外的貨幣結算 本基金的資產淨值可能因該等貨幣與基本貨幣之間的匯率波動及匯率管制的變動而受到不利影響 12. 衍生工具附帶的風險 本基金可能會投資於衍生工具, 以作投資用途或有效管理投資組合 與衍生工具相關的風險包括對手方 信貸風險 流動性風險 估值風險 波動性風險及場外交易風險 衍生工具的槓桿元素 組成部分可導致損失遠高於本基金投資於衍生工具的金額 投資於衍生工具可導致本基金承擔較高的重大損失風險 13. 從資本扣除的費用 與分派有關的風險 本基金普遍會 ( 根據愛爾蘭會計指引 ) 自收入中支付其管理費及其他費用及開支 然而, 如沒有充足收入, 基金經理可從資本中, 或從已扣除變現及未變現資本虧損後的變現及未變現資本收益中支付其部分或全部管理費及其他費用及開支 如管理費及其他費用及開支乃自本基金資本而非本基金所產生的收入中扣除, 則增長可能會受到限制, 並可能會侵蝕資本 本基金一般會從盈餘收入淨額支付股息 然而, 基金經理亦可能會就其認為維持合理分派水平而言合適的情況下, 在扣除變現及未變現資本虧損後, 分派部分資本收益 根據香港監管披露規定, 自未變現資本收益中支付分派相當於從資本中作出分派, 而在該等情況下作出的分派則相當於從投資者的原有投資或自該原有投資應佔的任何資本收益中退還或提取部分款項 任何與以未變現資本收益支付股息有關的分派 ( 即指實際上從資本中支付股息 ) 或會令本基金的每單位資產淨值即時減少 4

15 霸菱傾亞均衡基金 本基金過往的業績表現如何? 霸菱傾亞均衡基金 - A 類別美元累積 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% -10.0% -20.0% -30.0% -40.0% -50.0% 36.3% 22.8% 11.1% 11.6% 11.5% 9.5% 7.5% 3.7% 3.5% 5.1% 6.1% 6.2% 6.4% 2.8% 0.3% 5.7% 5.0% -2.6% -0.1% -39.2% 資料來源..霸菱 霸菱傾亞均衡基金 A 類別美元累積基準 : 高於香港薪酬增長的每年 2% 往績並非預測日後業績表現的指標 投資者未必能取回全部投資本金 基金業績表現以曆年末的資產淨值作為比較基礎, 股息會滾存再作投資 上述數據顯示 A 類別美元累積總值在有關曆年內的升跌幅度 業績表現以美元計算, 當中反映出基金的持續費用, 但不包括基金可能向閣下收取的認購費及贖回費 由於 A 類別美元累積為在香港獲認可的零售單位類別並以本基金的基本貨幣計值, 故獲選為代表單位類別 本基金的投資目標及政策已作出調整, 以達致超出香港薪酬增長每年 2% 的長期年率化實際回報率 ( 以港元計算 ) 因此, 高於香港薪酬增長每年 2% 可被反映為本基金的基準 基金發行日 :1996 年 5 月 31 日 A 類別美元累積發行日 年 5 月 31 日 有否提供保證? 本基金並不提供任何保證 閣下未必能全數取回投資金額 有什麼費用及收費? 閣下應支付的收費 當進行本基金單位交易時, 閣下可能須支付下列費用 費用 支付金額 認購費 ( 初期手續費 ) A 類別單位..每單位資產淨值之最多 5% C 類別單位..無 轉換費 ( 轉換費用 ) 無 贖回費 ( 贖回費用 ) A 類別單位..無 * C 類別單位..每單位資產淨值之最多 1% 5

16 霸菱傾亞均衡基金 本基金應支付的持續費用 以下費用將從本基金中支付 該等費用將使閣下的投資回報減少 管理費類別應佔本基金資產淨值的 1.0%** 信託費 ( 保管人費用 ) 最高 0.025%** 年率 ( 佔本基金資產淨值 ( 資產淨值 ) 的百分比 ) 如另有載述, 則不在此限 表現費 不適用 行政費用 0.375%** 分銷商費用本基金會向分銷商支付分銷商費用 A 類別單位..不適用 C 類別單位..每年按 C 類別單位應佔本基金資產淨值的 1% * 如有徵收任何贖回費用, 本基金將會向投資者發出最少 1 個月通知 ** 管理費 保管人費用及行政費用須支付予基金經理, 由基金經理支付投資經理 保管人及行政管理人 管理費 行政費用及保管人費用合計將不會超逾 2% 管理費可透過向投資者發出最少 3 個月事先通知, 加增至發售文件列明的最高水平 請參閱發售文件以了解進一步詳情 其他費用 當進行本基金單位交易時, 閣下可能須支付其他費用 本基金亦將須承擔與其直接相關的費用, 而該等費用列明於發售文件中 其他資料 當香港代表霸菱資產管理 ( 亞洲 ) 有限公司於香港營業日 1 ( 亦為交易日 ) 下午五時正 ( 香港時間 ) 或之前, 或基金經理於交易日中午十二時正 ( 愛爾蘭時間 ) 或之前收妥閣下的要求後, 閣下一般按本基金下一個釐定的相關單位類別每單位資產淨值認購及贖回單位 交易日指愛爾蘭及英國的銀行均營業的每個營業日 ( 不包括星期六或星期日 ) 閣下在下達認購 贖回及 / 或轉換指示前, 請聯絡閣下的分銷商核實有關分銷商的內部最後交易時間 ( 其可能較本基金的最後交易時間為早 ) 本基金將就各交易日計算資產淨值, 而相關單位類別的單位價格則在各交易日公佈, 並可於 2 查閱 有關股息於過去十二個月的構成 ( 即股息來自可分派的淨收入及資本的相對金額 ), 可透過香港代表的網站 2 取得, 亦可向香港代表索取 投資者可於 2 取得其他向香港投資者銷售的單位類別之過往業績資料 重要資料 閣下如有疑問, 應尋求專業意見 證監會對本概要的內容概不承擔責任, 對其準確性或完整性亦不作出任何陳述 1 香港營業日 指香港銀行開放正常營業的日子 ( 星期六或星期日除外 ), 惟倘因懸掛 8 號風球 黑色暴雨警告或其他類似事件, 使香港銀行於任何日子開放營業的時間縮短, 則該日並非香港營業日, 除非基金經理及保管人另行決定或基金經理及保管人可能釐定的該等日子 2 該網站未經證監會審閱, 並可能載有與未經證監會認可的基金的資料 6