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

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1 Important Information: 1. The fund invests primarily in Asian equities and fixed income securities which offer attractive yields and sustainable dividend payments. The fund will have limited Renminbi (RMB) denominated underlying investments. 2. In respect of the distribution units, the manager will declare and pay monthly distributions. However, the distribution rate is not guaranteed. Distribution yield is not indicative of the return of the fund. Distribution may be paid from capital of the fund. Investors should note that where the payment of distributions are paid out of capital, this represents and amounts to a return or withdrawal of part of the amount you originally invested or capital gains attributable to that and may result in an immediate decrease in the value of units. 3. The fund investment in fixed income securities may be subject to credit, counterparty, interest rate, liquidity and volatility risk. The fund investment in below investment grade and/or unrated debt securities may be subject to higher degree of the above risks. 4. The fund s investment in emerging and less developed markets may be subject to significant risks such as political and economic risks, legal and regulatory risks, market and settlement risks, execution and counterparty risk, and currency risks. 5. The fund may invest into investments denominated in currencies other than the fund's base currency and subject to currency and exchange risk. If the investor s based currency is a different currency than the share class s currency being invested in, the investor needs to carry out conversion and would involve conversion costs. RMB is currently not freely convertible. There is no assurance that RMB will not be subject to devaluation. 6. The effects of hedging will be reflected in the net asset values of the respective hedged classes. Expenses arising from hedging transactions will be borne by the relevant hedged classes. Hedged share class hedges the fund s base currency back to its currency of denomination on a best efforts basis. The volatility of the hedged classes measured in the fund s base currency may be higher than that of the equivalent class denominated in the fund s base currency. 7. The fund may invest in financial derivative instruments (FDI) for hedging purposes. In adverse situations, the fund s use of FDI may become ineffective in hedging and the fund may suffer significant losses. Risks associated with FDI include counterparty risk, credit risk and liquidity risk. Such exposure may lead to a high risk of capital loss. You should not make any investment decision solely based on this document. Please read the relevant offering document carefully for further fund details including risk factors. Schroder Asian Asset Income Fund Seize Asia s growth potential, grasp income opportunities 29 June, 2018

2 Capture investment opportunities in Asia by investing in high yielding Asian equities and bonds! The fund adopts an active investment strategy and a multiasset approach to help investors seize the enormous opportunities in Asia's fastgrowing economies. Why invest in the Schroder Asian Asset Income Fund? Yields on Asian assets remain attractive With persistently low interest rates across the globe, the Asian market provides plenty of investment opportunities which investors may enjoy attractive income streams. The region has also become an important market for many investors. The fund s payouts mainly come from high incomegenerating Asian equities and Asian fixed income. The relevant asset class indices possess an average historical yield of 5.3% and 3.1% (in US dollar terms), respectively. The fund is a respectable investment choice for investors seeking out sustained income. Historical yields of Asian bonds and equities (in US dollar terms) Year JPM Asia bond yield (%) MSCI Asia (exc. Japan) stock dividend yield (%) Average Source: Schroders, Bloomberg, as of 29/12/2017. Great growth potential in Asia s capital market The Asia Pacific region is host to a wide range of economies that enjoy more rapid growth compared to developed markets. In terms of valuations, Asian equities with high dividend yields remain attractive. In addition, yields of Asian bonds are higher than their counterparts in Europe and the US, bringing more attractive potential income to investors. Given continuous favourable factors, the growth potential of high dividend yield equities and bonds in Asia is worth investors attention. Real GDP (YoY%) Asia ex Japan s economic growth is expected to remain strong US Europe Asia ex JP EMEA Latin America * 2019* Source: Bloomberg, as of 29/06/2018. *Projected Data Active asset allocation improves potential returns and manages risks A wide range of asset classes provide flexibility in asset allocation The fund s active asset allocation strategy between Asian equities, Asian bonds, other asset classes and cash aims to capture investment opportunities in Asia in all market conditions. We look to increase exposure to equities and bonds to enhance potential returns as opportunities arise and hold cash to mitigate risks should markets reverse. The fund invests in a wide range of assets to earn returns for investors via active asset allocation in different economic cycles. Allocation % Asian Equities 30~70% Equities Asian Bonds 30~70% Bonds 0~20% Other Asset Classes 0~30% Cash The exact asset allocation may deviate from the range mentioned above without prior notice to investors. Please refer to the relevant offering documents for details. 1

3 Schroder Asian Asset Income Fund Fund Features A Distribution unit class offers a monthly payout (Distribution rate is not guaranteed, and payment of distributions could be paid out from capital) ~ Capture Asia's strong growth potential through investment in Asian high dividend yielding equities and high yield bonds Enjoy the capital growth potential of other assets Active asset allocation to manage risk Distribution Policy and Frequency Unit Classes ISIN Code Bloomberg Distribution Distribution Ticker Policy Frequency A Dis HKD A Dis USD A Dis AUD Hedged A Dis RMB Hedged A Dis GBP Hedged A Acc HKD A Acc USD A Acc GBP Hedged HK HK HK HK HK HK HK HK SCAAHAD HK SCAAUAD HK SCAAIAA HK SCAAAHR HK SCAADHG HK SCAAHAA HK SCAAUAA HK SCAAAHG HK Variable Variable Variable Variable Variable N/A N/A N/A Monthly Monthly Monthly Monthly Monthly N/A N/A N/A Dividend Distribution Record ~ Unit Classes A Dis HKD A Dis USD A Dis AUD Hedged A Dis RMB Hedged A Dis GBP Hedged Distribution Per Unit Upcoming Distribution Record Date Note: The distribution record date may subject to change. Price on Record Date (29/06/2018) /07/ /08/ /09/2018 Geographical Allocation (%) China Hong Kong Australia Singapore Thailand India Indonesia Korea Others Cash & Cash Equivalents Asian Equity Asian Fixed Income Total Top Holdings Equity HK Electric Investments & HK E The Link REIT Ascendas Real Estate Investment Lyxor China Enterprise HSCEI U Mapletree North Asia Commercial Trust Fixed Income CNOOC Finance 2015 USA LLC 3.5% 05/05/2025 Industrial And Commercial Bank Of China Limited Singapore FRN 16/04/2021 Tsinghua Unic Ltd 4.75% 31/01/2021 CDB Leasing Company Limited 4.25% 02/12/2024 Indian Oil Corporation Limited 5.75% 01/08/2023 Fund Performance Cumulative Performance (%) Fund Annual Return (%) Fund Key Information Fund Objective Unit NAV (Class A Acc) HKD Holdings (%) Holdings (%) To provide income and capital growth over the medium to longer term by investing primarily in Asian equities and Asian fixed income securities. Hi/Lo (past 12 mths, Class A Acc) HKD / Base Currency YTD mth HKD 1Yr 1.0 3Yrs Yrs Since launch % /13 06/14 06/15 06/16 06/17 06/18 Fund Sector Allocation (%) Financial Utilities Communications Energy Consumer, Cyclical Basic Materials Industrial Government Others Cash & Cash Equivalents Asian Equity Asian Fixed Income Total Fund Manager MultiAsset Team Launch Date 27/06/2011 Fund Size (Million) HKD 39, Initial Charge up to (Class A) 5% Management Fee (Class A) 1.25% p.a. Dealing Frequency Daily Reference Benchmark 50% MSCI AC Asia Pacific ex Japan Index and 50% JP Morgan Asia Credit Index Financial Year End 30/6 ~ In respect of the distribution units, the manager will declare and pay monthly distributions. However, the distribution rate is not guaranteed. Distribution yield is not indicative of the return of the fund. Distributions may be paid from capital of the fund. Investors should note that where the payment of distributions are paid out of capital, this represents and amounts to a return or withdrawal of part of the amount you originally invested or capital gains attributable to that and may result in an immediate decrease in the value of units. All fund information as at 29/06/2018. Source: Schroders. Fund performance based on Class A Accumulation; NAVNAV in HKD with net income reinvested. The fund size quoted includes all classes of the fund. Investment involves risks. Past performance is not indicative of future performance. Please refer to the relevant offering documents for fund details including risk factors. This material, including the website, is issued by Schroder Investment Management (Hong Kong) Limited and has not been reviewed by the SFC. Management Company: Schroder Investment Management (Hong Kong) Limited, Level 33, Two Pacific Place, 88 Queensway, Hong Kong Supervisory Authority: Securities and Futures Commission, 35/F, Cheung Kong Center, 2 Queen's Road Central, Hong Kong 2

4 Schroder Asian Asset Income Fund A Acc 施羅德亞洲高息股債基金 Œ A 類股份累積單位 As at 截至 29/06/2018 Important Information 重要事項 1. The fund invests primarily in Asian equities and fixed income securities which offer attractive yields and sustainable dividend payments. The fund will have limited Renminbi (RMB) denominated underlying investments. 2. In respect of the distribution units, the manager will declare and pay monthly distributions. However, the distribution rate is not guaranteed. Distribution yield is not indicative of the return of the fund. Distribution may be paid from capital of the fund. Investors should note that where the payment of distributions are paid out of capital, this represents and amounts to a return or withdrawal of part of the amount you originally invested or capital gains attributable to that and may result in an immediate decrease in the value of units. 3. The fund investment in fixed income securities may be subject to credit, counterparty, interest rate, liquidity and volatility risk. The fund investment in below investment grade and/or unrated debt securities may be subject to higher degree of the above risks. 4. The fund s investment in emerging and less developed markets may be subject to significant risks such as political and economic risks, legal and regulatory risks, market and settlement risks, execution and counterparty risk, and currency risks. 5. The fund may invest into investments denominated in currencies other than the fund's base currency and subject to currency and exchange risk. If the investor s based currency is a different currency than the share class s currency being invested in, the investor needs to carry out conversion and would involve conversion costs. RMB is currently not freely convertible. There is no assurance that RMB will not be subject to devaluation. 6. The effects of hedging will be reflected in the net asset values of the respective hedged classes. Expenses arising from hedging transactions will be borne by the relevant hedged classes. Hedged share class hedges the fund s base currency back to its currency of denomination on a best efforts basis. The volatility of the hedged classes measured in the fund s base currency may be higher than that of the equivalent class denominated in the fund s base currency. 7. The fund may invest in financial derivative instruments (FDI) for hedging purposes. In adverse situations, the fund s use of FDI may become ineffective in hedging and the fund may suffer significant losses. Risks associated with FDI include counterparty risk, credit risk and liquidity risk. Such exposure may lead to a high risk of capital loss. You should not make any investment decision solely based on this document. Please read the relevant offering document carefully for further fund details including risk factors. 1. 基金主要投資於提供吸引收益率和持續派發股息的亞洲股票和定息證券 基金將有限度地投資於以人民幣定值的投資項目 2. 就收息單位而言, 經理人會每月宣佈和派發股息 然而, 息率並不保證 派息率並非基金回報之準則 基金在支付派息時, 可從資本中支付派息 投資者應注意從資本中支付派息時, 即表示及相當於從閣下原本投資的金額中, 或從該等金額賺取的資本收益中退回或提取部份款項, 可能即時導致單位價值下跌 3. 市場利率變動會影響基金持有之債務證券的價值 基金投資於債務證券需承受對手方 利率 信用 流動性和波幅風險 基金投資低於投資級別及 / 或未獲評級的債務證券較投資於高評級的證券承受較高的風險 4. 基金投資於新興和較落後的市場須承受顯著的風險, 例如政治和經濟風險 法律及監管風險 市場及結算風險 執行及交易對手方風險及貨幣風險 5. 基金可投資與基金基礎貨幣不同的貨幣單位須承受貨幣及兌換風險 若投資者的基本貨幣並非所投資的股份類別的貨幣, 投資者需要進行貨幣兌換而涉及兌換成本 人民幣現時不可自由兌換 不保證人民幣不會貶值 6. 對於各對沖單位類別, 對沖的效果將於對沖類別之資產淨值反映出來, 對沖交易引致的開支將由相關對沖類別承擔 對沖股份類別盡量把基金之基本貨幣對沖為對沖類別的定值貨幣 以基金基本貨幣量度對沖股份類別表現的波動性可能較以基金基本貨幣股份類別為高 7. 基金可能投資於金融衍生工具以進行對沖 在不利情況下, 基金使用金融衍生工具或未能有效地對沖, 基金可能承受重大虧損 涉及金融衍生工具的風險包括對手方風險 信貸風險 流動性風險, 該等投資或須承受高度的資本虧損風險 閣下不應僅倚賴本文件而作出任何投資決定 請詳閱有關銷售文件以得悉基金之詳情包括風險因素 Investment Objective 投資目標 Key Information 基金資料 The fund's investment objective is to provide income and capital growth over the medium to longer term by investing primarily in Asian equities and Asian fixed income securities. 本基金的投資目標主要透過投資於亞洲股票和亞洲定息證券, 以提供收益及中期至長期的資本增值 Cumulative Performance 累積表現 (%) Fund 基金 (%) Fund 基金 YTD 年初至今 3 Mths 1 Yr 3 個月 1 年 3 Yrs 3 年 5 Yrs 5 年 Annual Return 基金總回報 (%) Since Launch 自設立日起 Fund 基金 Asset Type 資產分佈 (%) Equities 股票 Fixed Income 債券 Total 總計 China 中國 Hong Kong 香港 Australia 澳洲 Singapore 新加坡 Thailand 泰國 India 印度 Indonesia 印尼 Korea 韓國 Japan 日本 Taiwan 台灣 Others 其他 Global 環球 5.00 Cash & Cash Equivalents 現金及現金等值 Total 總計 Top Holdings Equity (%) 主要投資 股票 (%) HK Electric Investments & HK E 2.00 The Link REIT 2.00 Ascendas Real Estate Investment 1.90 Lyxor China Enterprise HSCEI U 1.90 Mapletree North Asia Commercia Top Holdings Fixed Income (%) 主要投資 債劵 (%) CNOOC FINANCE 2015 USA LLC /05/2025 INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED SINGAPORE FRN 16/04/2021 SERIES REGS TSINGHUA UNIC LTD /01/2021 SERIES REGS CDB LEASING COMPANY LIMITED /12/2024 SERIES REGS INDIAN OIL CORPORATION LIMITED /08/2023 SERIES REGS Unit NAV 單位資產淨值 Hi/Lo (Past 12 mths) 最高 / 最低 ( 過去十二個月 ) Annualised Return (3 yrs) 年度回報率 (3 年 ) Annualised Volatility (3 yrs) 年均相對波幅 (3 年 ) Beta (3 yrs) 貝他 (3 年 ) Sharpe Ratio (3 yrs) 夏普比率 (3 年 ) HKD ( 港元 ) HKD / ( 港元 ) 4.17% 5.81% N/A 0.72 Initial Charge up to 首次認購費上限 5.00% Management Fee 管理年費 1.25% p.a. Fund Manager 基金經理 Launch Date 推出日期 Fund Size 資產值 (million 百萬元 ) 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 HKD (A 類累積 港元 ) A Dis HKD (A 類收息 港元 ) A Acc USD (A 類累積 美元 ) A Dis USD (A 類收息 美元 ) A Dis AUD Hedged (A 類收息 澳元對沖 ) A Dis RMB Hedged (A 類收息 人民幣對沖 ) A Acc GBP Hedged (A 類累積 英鎊對沖 ) A Dis GBP Hedged (A 類收息 英鎊對沖 ) Distribution Frequency 派息次數 N/A M N/A M M M N/A M èmorningstar Rating 晨星星號評級 TM MultiAsset Team ( 多元化資產投資團隊 ) 06/11 HKD39, ( 港元 ) 30/ Bloomberg Ticker 彭博代碼 SCAAHAA HK SCAAHAD HK SCAAUAA HK SCAAUAD HK SCAAIAA HK SCAAAHR HK SCAAAHG HK SCAADHG HK ISIN CODE ISIN 號碼 HK HK HK HK HK HK HK HK èmorningstar Analyst Rating 晨星分析師評級 Source : Schroders. NAVNAV in HKD with net income reinvested. The Fund size quoted includes all classes of the Fund. Investment involves risks. Past performance is not indicative of future performance. Please refer to the relevant offering documents for fund details including risk factors. This material, including the website, is issued by Schroder Investment Management (Hong Kong) Limited and has not been reviewed by the SFC. Distribution Frequency: M = Monthly; Q = Quarterly; S = Semiannual; A = Annual; N/A = Not applicable èmorningstar, Inc. All Rights Reserved. Morningstar Rating (TM) as at 29/06/2018. Morningstar Analyst Rating (TM) as at 23/05/2018. 資料來源 : 施羅德投資 基金表現以資產淨值價 ( 港元 ) 計算, 收益再投資 本基金之資產值已涵蓋其所有類別 投資涉及風險 過往表現未必可作日後業績的準則 詳情 ( 包括風險因素 ) 請參閱有關銷售文件 本文件及網站由施羅德投資管理 ( 香港 ) 有限公司刊發並未受香港證監會檢閱 Œ 儘管基金旨在投資於提供吸引收益率和持續派發股息的證券, 經理人可酌情決定息率 投資者不應理解為基金表示或暗示派息率獲得保證 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 29/06/2018 晨星分析師評級數據截至 23/05/2018 TM Download the offering documents here 從此處下載銷售文件

5 PRODUCT KEY FACTS Schroder Asian Asset Income Fund Issuer: Schroder Investment Management (Hong Kong) Limited July 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 Manager: Trustee: Schroder Investment Management (Hong Kong) Limited HSBC Institutional Trust Services (Asia) Limited Ongoing charges over a year*: Class A AUD Hedged Dis 1.56% Class C HKD Dis 0.83% Class A GBP Hedged Acc 1.55% Class A RMB Hedged Dis 1.56% Class A GBP Hedged Dis 1.56% Class A USD Acc 1.56% Class A HKD Acc 1.56% Class A USD Dis 1.56% Class A HKD Dis 1.56% Class C USD Acc 0.83% Class C HKD Acc 0.83% Dealing frequency: Base currency: Dividend policy: Daily HKD A and C Accumulation Units Dividend will not be distributed but will be reinvested into the fund. A and C Distribution Units Dividend will be distributed on a monthly basis. However, the distribution rate is not guaranteed. Distributions may be paid out of capital and reduce the fund s net asset value. Financial year end of this fund: 30 June Minimum investment: Initial HKD5,000, RMB5,000 or USD1,000 (or equivalent), Subsequent Investment HKD5,000, RMB5,000 or USD1,000 (or equivalent) * The ongoing charges figure is based on the annualised expenses for the interim period ended 31 December This figure may vary from year to year. What is this product? This is a subfund of the Schroder Umbrella Fund II constituted in the form of an umbrella unit trust established under the laws of Hong Kong. 1

6 Schroder Asian Asset Income Fund Objectives and investment strategy The fund aims to provide income and capital growth over the medium to longer term by investing primarily in Asian equities and Asian fixed income securities. The fund will seek to achieve the investment objective primarily (i.e. at least 70% of its net asset value) through investment in a portfolio of equity and equity related securities of Asian companies which offer sustainable dividend payments, including real estate investment trusts, and bonds and other fixed or floating rate securities, of investment grade or below investment grade (at the time of or subsequent to acquisition), issued by governments, government agencies, supranational and companies in Asia. The fund may invest below 50% of its net asset value in bonds and debt securities which are below investment grade (i.e. rated below BBB or equivalent by any internationally recognised credit rating agency, such as Standard & Poor s, Moody s or Fitch, or rated BB+ or below by any mainland China domestic credit rating agency; whenever different ratings are assigned by different credit rating agencies, the lowest credit ratings assigned to the security will be adopted by the fund) or unrated. For this purpose, if the relevant security does not itself have a credit rating, then reference can be made to the credit rating of the issuer of the security. If both the security and the relevant issuer are not rated, then the security will be classified as unrated. The fund may, if the manager considers fit, seek exposure of not more than 20% of its net asset value to other asset classes including but not limited to nonasian securities and commodities (including energy, metals and agricultural commodities) indirectly through exchange traded funds and/or similar instruments. The fund will actively allocate between Asian equities, Asian fixed income securities, other asset classes, cash and money market instruments to achieve the fund s objective. The fund will use a cyclical approach to asset allocation where the asset mix will be adjusted according to the four phases of the economic cycle recovery, expansion, slowdown and recession based on a combination of fundamental and quantitative factors such as asset class valuation, macroeconomic data and liquidity. Cash and money market instruments will be treated as a separate asset class and will be deployed if necessary to limit downside risk during adverse market conditions. The fund s expected asset allocation ranges for each asset class is expected to be the following: Asian equities: 3070% Asian fixed income: 3070% Other asset classes: 020% Cash and money market instruments: 030% In addition to active asset allocation, the fund will also perform active security selection for its investments in Asian equities, Asian fixed income and other asset classes. For the Asian equities portfolio, the fund intends to focus on companies that are able to create true shareholder value, have a strong and stable earnings stream and have a strong sustainable dividend yield. For the Asian fixed income portfolio, the fund intends to select securities that deliver capital growth taking into account both fundamental and technical views such as valuation, demand/supply conditions and liquidity. The fund will also perform duration management based on the manager s interest rate views. Duration is a measure of the sensitivity of the portfolio value to changes in interest rates. Hence duration management means managing the impact that interest rate movements have on the value of the portfolio. For example, an increase in interest rates usually has a negative impact on the value of bonds, hence the manager would reduce the duration of the portfolio to reduce the effect from rising interest rates. The fund may also utilize financial derivative instruments for the purposes of hedging, although the manager is not obligated to do so. Under exceptional circumstances (e.g. market crash or major crisis), the fund may hold up to 30% of its assets in cash and money market instruments such as bank deposits, certificates of deposit, commercial paper and treasury bills. 2

7 Schroder Asian Asset Income Fund Investment in China Ashares may be made through the ShanghaiHong Kong Stock Connect and the ShenzhenHong Kong Stock Connect (collectively, the Stock Connect ) (as further described in the section under the heading Stock Connect in the Explanatory Memorandum). Indirect exposure to China Ashares may also be sought for the fund through investment in financial instruments such as China market access products. In addition, the fund will limit its gross risk exposure to each issuer of China market access products and/or derivative instruments linked to the performance of China Ashares to no more than 10% of its net asset value. The fund may invest directly in fixed income and debt instruments issued or distributed in mainland China ( Onshore Chinese fixed income securities ). Direct exposure to Onshore Chinese fixed income securities may be gained via investing in mainland China interbank bond markets ( China Interbank Bond Market ) under Bond Connect (as further described in the section under the heading Overview of China Interbank Bond Market in the Explanatory Memorandum) and/or other means as may be permitted by the relevant regulations from time to time. The fund s aggregate direct and indirect exposure to China Ashares, China Bshares and Onshore Chinese fixed income securities will not exceed 20% of its net asset value. The fund will have limited Renminbi (RMB) denominated underlying investments. The manager will also manage the fund taking into account the distribution policy of the fund. Please refer to Distribution section of the offering document for details.. What are the key risks? Investment involves risk. Please refer to the offering document for details including the risk factors. 1. Equity investment risk The fund s investment in equity securities is subject to the risk that the market value may fluctuate due to numerous factors such as changes in investment sentiment, political environment, economic environment, issuerspecific factors, regional or global economic instability, currency and interest rate fluctuations. If the market value of the stocks go down the net asset value of the fund may be adversely affected. 2. Risks relating to investment in fixed income securities 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 and counterparty risk Investment in fixed income securities is subject to the credit/default risk of the issuer which may also adversely affect the settlement of the 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. The rating criteria and methodology used by Chinese local rating agencies may be different from those adopted by most of the established international credit rating agencies. Therefore, such rating system may not provide an equivalent standard for comparison with securities rated by international credit rating agencies. 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. Credit downgrading risk The credit rating of fixed income securities or their issuers may be subsequently downgraded. In the event of such downgrading, the value of the fund may be adversely affected. The manager may not dispose of such securities immediately and the fund may therefore be subject to additional risk of loss. 3

8 Schroder Asian Asset Income Fund Liquidity and volatility risk Securities not listed or rated or actively traded may have low liquidity and higher volatility, and their prices 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. 3. Risks relating to distributions The Manager may at its discretion make such distributions out of the capital of the fund. This amounts to a return or withdrawal of part of the amount you originally invested or capital gains attributable to that and may result in an immediate decrease in the value of units of the relevant Distribution Units. The distribution amount and net asset value of the hedged unit classes may be adversely affected by differences in the interest rates of the class currencies of the hedged unit 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 nonhedged unit classes. 4. 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. 5. Currency and exchange risk Investments acquired by the fund may be denominated in a wide range of currencies different from the base currency of the fund. Also a Class of Units may also be denominated 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. 6. Risks relating to Real Estate Investment Trusts ( REITs ) The fund may be subject to risks similar to those associated with the direct ownership of real property (in addition to securities market risks) through its investment in REITs. The prices of REITs are affected by changes in the value of the underlying property owned by the REITs. REITs are dependent upon management skills and generally may not be diversified. Certain special purpose REITs in which the fund may invest may have their assets in specific real property sectors, such as hotel REITs, nursing home REITs or warehouse REITs, and are therefore subject to the risks associated with adverse developments in these sectors. The REITs invested in by the fund may not necessarily be authorized by the SFC and the distribution policy of the fund may not reflect the dividend policy of the underlying REITs. 4

9 Schroder Asian Asset Income Fund 7. Risks relating to hedging and the hedged classes There is no guarantee that the desired hedging instruments will be available or hedging techniques will be effective. The fund may suffer significant losses in adverse situation. Any expenses arising from such hedging transactions will be borne by the relevant hedged classes. Hedging may also preclude unitholders from benefiting from an increase in value in terms of the fund s base currency. 8. Renminbi ( RMB ) Currency Risk and RMB classes related risk RMB is currently not freely convertible and is subject to foreign exchange control policies and restrictions. There can be no assurance that RMB will not be subject to depreciation. Any depreciation of RMB could adversely affect the value of investor s investment in classes denominated in RMB. Classes denominated in RMB will be valued with reference to offshore RMB ( CNH ) rather than onshore RMB ( CNY ). While CNH and CNY represent the same currency, they are traded at different rates. Any divergence between CNH and CNY may adversely impact investors. NonRMB based investors in classes denominated in RMB may have to convert HK dollar or other currency(ies) into RMB when investing in classes denominated in RMB and subsequently convert the RMB redemption proceeds and/or dividend payment (if any) back to HK dollar or such other currency(ies). Investors will incur currency conversion costs and you may suffer losses depending on the exchange rate movements of RMB relative to HK dollar or such other currencies. Under exceptional circumstances, payment of redemptions and/or dividend payment in RMB may be delayed due to the exchange controls and restrictions applicable to RMB. 9. Risks related to investments via the Stock Connect The relevant rules and regulations on the Stock Connect are subject to change which may have potential retrospective effect. The Stock Connect is subject to quota limitations. Where a suspension in the trading through the programme is effected, the fund s ability to invest in China Ashares or access the mainland China market through the programme will be adversely affected. In such event, the fund s ability to achieve its investment objective could be negatively affected. 10. Risks associated with China Interbank Bond Market Investing in the China Interbank Bond Market via Bond Connect is subject to regulatory risks and various risks such as volatility risk, liquidity risk, settlement and counterparty risk as well as other risk factors typically applicable to debt securities. The relevant rules and regulations on investment in the China Interbank Bond Market via Bond Connect are subject to change which may have potential retrospective effect. In the event that the relevant mainland China authorities suspend account opening or trading on the China Interbank Bond Market, the fund s ability to invest in the China Interbank Bond Market will be adversely affected. In such event, the fund s ability to achieve its investment objective will be negatively affected. 11. Financial derivative instruments ( FDI ) Risks associated with FDI include counterparty risk, credit risk and liquidity risk, valuation risk, volatility risk, overthecounter transaction risks and hedging risk. The leverage element component of an FDI can result in a loss substantially greater than the amount invested in the FDI itself. Such exposure may lead to a high risk of significant capital loss. 5

10 Schroder Asian Asset Income Fund How has the fund performed? 30% 20% 10% 0% 10% 26.1% 14.1% 10.4% 6.5% 0.8% % Note Past performance information is not indicative of future performance. Investors may not get back the full amount invested. The computation basis of the performance is based on the calendar year end, NAVToNAV, with dividend reinvested. These figures show by how much the fund s Class A HKD Accumulation increased or decreased in value during the calendar year being shown. Performance data has been calculated in HKD including ongoing charges and excluding subscription fee and redemption fee you might have to pay. Where no past performance is shown there was insufficient data available in that year to provide performance. Fund launch date: 2011 Class A HKD Accumulation launch date: 2011 The manager views the Class A HKD Accumulation, being the retail unit class denominated in the base currency of the fund, as the most appropriate representative unit class of the fund. Note: The performance of these years was achieved under circumstances that no longer apply. During these years, there was material change(s) to the fund, namely, changes of investment objective and policy and reduction of fee(s). Is there any guarantee? This fund does not have any guarantees. You may not get back the full amount of money you invest. What are the fees and charges? Charges which may be payable by you You may have to pay the following fees when dealing in the units of the fund. Fee What you pay Unit class A C Subscription fee (Initial charge) Switching fee Redemption fee (Redemption charge) Up to 5% of the gross investment amount Up to 5% of the switching amount Nil 6

11 Schroder Asian Asset Income Fund Ongoing fees payable by the fund The following expenses will be paid out of the fund. They affect you because they reduce the return you get on your investments. Annual rate (as a % of the fund s net asset value) Unit class A C Management fee* 1.25% 0.625% Trustee fee 0.07% (Subject to a minimum fee of HKD156,000 per annum) Performance fee Administration fee (Service Provider s costs) Not applicable 0.02% to 0.2% * The fee may be increased up to a maximum annual rate of 7% of the net asset value of the fund after giving at least one month s prior notice to unitholders. Other fees You may have to pay other fees when dealing in the units of the fund. Please refer to the offering document for fees payable by the fund. Additional information You generally buy and redeem units at the fund s nextdetermined net asset value (NAV) after Schroder Investment Management (Hong Kong) Limited receives your request, directly or via a distributor, in good order at or before 5 pm HK time, being the fund s dealing cutoff time on each dealing day of the fund. Before placing your subscription or redemption orders, please check with your distributor for the distributor s internal dealing cutoff time (which may be earlier than the fund s dealing cutoff time). Compositions of the distributions (i.e. the percentages of distribution being paid out of capital and net distributable income) for the last twelve months for each of the classes of Distribution Units paying distributions out of capital are available from the manager on request and on the Schroders Internet site ( Past performance information of other unit classes offered to Hong Kong investors is available online at The net asset value of this fund is calculated and the price of units is published on each dealing day. They are also available online at The website has not been reviewed by the SFC. Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness. 7

12 重要事項 1. 基金主要投資於提供吸引收益率和持續派發股息的亞洲股票和定息證券 基金將有限度地投資於以人民幣定值的投資項目 2. 就收息單位而言 經理人會每月宣佈和派發股息 然而 息率並不保證 派息率並非基金回報之準則 基金在支付派息時 可從資本中支付 派息 投資者應注意從資本中支付派息時 即表示及相當於從閣下原本投資的金額中 或從該等金額賺取的資本收益中退回或提取部份款 項 可能即時導致單位價值下跌 3. 市場利率變動會影響基金持有之債務證券的價值 基金投資於債務證券需承受對手方 利率 信用 流動性和波幅風險 基金投資低於投資 級別及 / 或未獲評級的債務證券較投資於高評級的證券承受較高的風險 4. 基金投資於新興和較落後的市場須承受顯著的風險 例如政治和經濟風險 法律及監管風險 市場及結算風險 執行及交易對手方風險及貨 幣風險 5. 基金可投資與基金基礎貨幣不同的貨幣單位須承受貨幣及兌換風險 若投資者的基本貨幣並非所投資的股份類別的貨幣 投資者需要進行貨 幣兌換而涉及兌換成本 人民幣現時不可自由兌換 不保證人民幣不會貶值 6. 對於各對沖單位類別 對沖的效果將於對沖類別之資產淨值反映出來 對沖交易引致的開支將由相關對沖類別承擔 對沖股份類別盡量把基 金之基本貨幣對沖為對沖類別的定值貨幣 以基金基本貨幣量度對沖股份類別表現的波動性可能較以基金基本貨幣股份類別為高 7. 基金可能投資於金融衍生工具以進行對沖 在不利情況下 基金使用金融衍生工具或未能有效地對沖 基金可能承受重大虧損 涉及金融衍 生工具的風險包括對手方風險 信貸風險 流動性風險 該等投資或須承受高度的資本虧損風險 閣下不應僅倚賴本文件而作出任何投資決定 請詳閱有關銷售文件以得悉基金之詳情包括風險因素 施羅德亞洲高息股債基金 捕捉亞洲升值潛力 緊握收息機遇 2018年6月29日

13 投資亞洲高息股票與債券市場, 讓你一舉捕捉亞洲投資機遇! 本基金採取主動式多元資產管理, 在經濟活力暢旺的亞洲, 為投資者爭取更多的收益機會 施羅德亞洲高息股債基金的主要優點 年份 JPM 亞洲債券收益率 (%) MSCI 亞洲 ( 日本除外 ) 股票股息率 (% 亞洲資產收益率具吸引力在全球持續低息的環境下, 亞洲市場提供不俗的收益投資選擇, 並且成為投資者部署投資組合時的重要市場 本基金收益主要來自高息的亞洲股票和亞洲債劵, 而相關指數過往的平均收益率分別為 5.3% 和 3.1%( 美元計 ), 對重視持續收益的投資者來說是個不俗的投資選擇 亞洲債券與股票歷年派息率 ( 美元計 ) 年份 JPM 亞洲債券收益率 (%) MSCI 亞洲 ( 日本除外 ) 股票股息率 (%) 平均 資料來源 : 施羅德投資, 彭博, 截至 29/12/2017 亞洲市場資本增長潛力高 預料亞洲 ( 日本除外 ) 經濟增長仍然強勁 相對於成熟市場, 亞太區的經濟仍然保持較高增長 從估值角度而言, 亞太高息股票依然吸引 再者, 亞洲債券利息普遍高於歐美, 亦可為投資者帶來可觀的潛在收益 在各種利好因素持續的環境下, 亞洲高息股票和亞洲債券增長潛力值得重視 實質國內生產總值 (% 按年 ) 美國 歐洲 亞洲 ( 日本除外 ) 歐洲 中東及非洲 拉丁美洲 * 2019* 資料來源 : 彭博, 截至 29/06/2018 * 預測數據 靈活資產配置提升潛在回報及管理風險基金經理可按照不同經濟週期及市況, 調整投資組合內股票 債券 其他資產種類及現金比重, 以靈活的資產配置捕捉亞洲投資機會 在市況利好的情況下增加股債比重以爭取潛在回報 相反, 在市況不明朗時, 持有現金亦可相對有效地降低下行風險 基金投資範圍廣泛, 可靈活地在不同經濟週期致力為投資者爭取可觀的潛在收益 配置 % 亞洲股票 30~70% 股票 投資範圍廣泛, 靈活捕捉投資良機 亞洲債券 30~70% 0~20% 0~30% 債券其他資產種類現金 實際資產分佈或有別於上述所示的範圍而無須向投資者預先通知, 詳情請參閱有關銷售文件 1

14 施羅德亞洲高息股債基金 ) 基金特色 A 類收息單位每月派息 ( 息率並不保證, 派息可從資本中支付 ) ~ 透過高息股票及債券, 捕捉亞洲的高增長潛力 兼享其他資產種類的升值潛力 靈活資產配置, 調控風險 派息政策及次數 單位類別 A 收息 港元 A 收息 美元 A 收息 澳元對沖 A 收息 人民幣對沖 A 收息 英鎊對沖 A 累積 港元 A 累積 美元 A 累積 英鎊對沖 ISIN 號碼 HK HK HK HK HK HK HK HK 彭博代碼 SCAAHAD HK SCAAUAD HK SCAAIAA HK SCAAAHR HK SCAADHG HK SCAAHAA HK SCAAUAA HK SCAAAHG HK 派息政策不固定不固定不固定不固定不固定不適用不適用不適用 派息次數每月每月每月每月每月不適用不適用不適用 派息紀錄 ~ 主要投資 證券港燈電力投資領匯房產基金 Ascendas Real Estate Investment Lyxor China Enterprise HSCEI U Mapletree North Asia Commercial Trust 債券 CNOOC Finance 2015 USA LLC 3.5% 05/05/2025 Industrial And Commercial Bank Of China Limited Singapore FRN 16/04/2021 Tsinghua Unic Ltd 4.75% 31/01/2021 CDB Leasing Company Limited 4.25% 02/12/2024 Indian Oil Corporation Limited 5.75% 01/08/2023 基金表現 累積表現 (%) 基金 年初至今 個月 年 年 年 26.6 比重 (%) 比重 (%) 自設立日起 47.2 單位類別 A 類收息 港元 A 類收息 美元 A 類收息 澳元對沖 A 類收息 人民幣對沖 A 類收息 英鎊對沖 預定派息紀錄日 註 : 上述派息紀錄日可能更改 每單位派息 紀錄日之基金價格 (29/06/2018) /07/ /08/ /09/2018 地區分佈 (%) 中國香港澳洲新加坡泰國印度印尼韓國其他現金及現金等值 亞洲股票 亞洲債券 總計 年度表現 (%) 基金 基金資料 投資目標主要透過投資於亞洲股票和亞洲定息證券, 以提供收益及中期至長期的資本增值 單位資產淨值 (A 類累積 ) 最高 / 最低 ( 過去十二個月,A 類累積 ) 基本貨幣 基金經理 港元 / 港元 港元 多元化資產投資團隊 % /13 06/14 06/15 06/16 06/17 06/18 基金 行業分佈 (%) 推出日期 27/06/2011 金融公用事業通訊能源消費, 週期性基本材料工業政府其他現金及現金等值 亞洲股票 亞洲債券 總計 資產值 ( 百萬元 ) 39, 港元 首次認購費上限 (A 類 ) 5% 管理年費 (A 類 ) 每年 1.25% 交易日 每日 參考基準指數 50% MSCI AC Asia Pacific ex Japan 指數及 50% JP Morgan Asia Credit 指數 財政年度結算日 30/6 儘管基金旨在投資於提供吸引收益率和持續派發股息的證券, 經理人可酌情決定息率 投資者不應理解為基金表示或暗示派息率獲得保證 ~ 就收息單位而言, 經理人會每月宣佈和派發股息 然而, 息率並不保證 派息率並非基金回報之準則 基金在支付派息時, 可從資本中支付派息 投資者應注意從資本中支付派息時, 即表示及相當於從閣下原本投資的金額中, 或從該等金額賺取的資本收益中退回或提取部份款項, 可能即時導致單位價值下跌 所有基金資料截至 29/06/2018 資料來源: 施羅德投資 基金表現以 A 類累積 ( 港元 ) 資產淨值價計算, 收益再投資 本基金之資產值已涵蓋其所有類別 投資涉及風險 過往表現未必可作日後業績的準則 詳情 ( 包括風險因素 ) 請參閱有關銷售文件 本文件及網站由施羅德投資管理 ( 香港 ) 有限公司刊發及並未受證監會檢閱 管理公司 : 施羅德投資管理 ( 香港 ) 有限公司, 香港金鐘道 88 號太古廣場二座 33 字樓監管機構 : 證券及期貨事務監察委員會, 香港皇后大道中 2 號, 長江集團中心 35 樓 2

15 產品資料概要 1 施羅德亞洲高息股債基金 發行人 : 施羅德投資管理 ( 香港 ) 有限公司 2018 年 7 月 本概要提供本基金的重要資料, 是銷售文件的一部分 請勿單憑本概要作投資決定 資料便覽 經理人 : 受託人 : 施羅德投資管理 ( 香港 ) 有限公司 滙豐機構信託服務 ( 亞洲 ) 有限公司 全年經常性開支比率 *: A 類別 ( 澳元對沖收息 ) 1.56% C 類別 ( 港元收息 ) 0.83% A 類別 ( 英鎊對沖累積 ) 1.55% A 類別 ( 人民幣對沖收息 ) 1.56% A 類別 ( 英鎊對沖收息 ) 1.56% A 類別 ( 美元累積 ) 1.56% A 類別 ( 港元累積 ) 1.56% A 類別 ( 美元收息 ) 1.56% A 類別 ( 港元收息 ) 1.56% C 類別 ( 美元累積 ) 0.83% C 類別 ( 港元累積 ) 0.83% 交易頻密程度 : 基本貨幣 : 派息政策 : 每日 港元 A 及 C 累積單位 不會派發股息, 但會將股息再投資於基金 A 及 C 收息單位 將每月派息 然而, 經理人不會對派息率作出保證 派息可從資本中扣除, 從而減低基金的資產淨值 財政年終結日 : 6 月 30 日 最低投資額 : 首次投資 5,000 港元 5,000 元人民幣或 1,000 美元 ( 或等值金額 ); 額外認 購 5,000 港元 5,000 元人民幣或 1,000 美元 ( 或等值金額 ) * 全年經常性開支比率是根據截至 2017 年 12 月 31 日的半年度年率化費用計算, 每年均可能有所變動 本基金是什麼產品? 本基金為施羅德傘型基金 II 旗下的一項子基金, 施羅德傘型基金 II 為一項依香港法例成立的傘型單位信託基金 1 儘管本基金旨在投資於提供吸引收益率和持續派發股息的證券, 經理人可酌情決定息率 投資者不應理解為本基金表示 或暗示派息率獲得保證 1

16 施羅德亞洲高息股債基金 目標及投資策略主要透過投資於亞洲股票和亞洲定息證券, 以提供收益及中期至長期的資本增值 基金主要 ( 即至少其資產淨值的 70%) 透過投資於一籃子提供持續派發股息的亞洲公司的股本和股本相關證券, 包括房地產投資基金, 以及由亞洲各地政府 政府機構 跨國家機構及公司發行的債券和其他定息或浮息證券 ( 該等證券在購入時或購入後可能是具有投資級別或投資級別以下的證券 ), 以達致投資目標 基金可將少於其資產淨值的 50% 投資於評級低於投資級別 ( 即任何國際認可信貸評級機構, 如標準普爾 穆廸或惠譽評為 BBB( 或相等級別 ) 以下級別, 或由任何中國國內信貸評級機構評為 BB+ 或以下級別 ; 當各信貸評級機構的評級有別, 子基金將採用當中最低的級別 ) 或未獲評級的債券和債務證券 為此, 如有關證券本身沒有信貸評級, 可參考該證券發行商的信貸評級 如證券和其發行商均沒有評級, 則證券將被分類為未獲評級的證券 如經理人認為合適, 基金可將不超過 20% 的資產淨值透過交易所交易基金及 或類似的工具, 間接投資於其他種類的資產, 包括但不限於非亞洲證券 商品 ( 包括能源 金屬和農產品 ) 基金將積極地將投資在亞洲股票 亞洲定息證券 其他種類的資產 現金和貨幣市場工具之間進行配置, 以達致基金的目標 基金將運用周期性方針配置資產, 即資產將依經濟周期的四個階段 復甦 膨脹 放緩和衰退, 按基礎和定量因素如資產種類估值 宏觀經濟數據和流動性調整資產組合 現金和貨幣市場工具將被視為獨立的資產種類, 如有需要, 在不利市況時將被用作限制下跌的風險 基金各資產種類的預計資產配置範圍如下 : 亞洲股票 :3070% 亞洲定息收益 :3070% 其他資產種類 :020% 現金和貨幣市場工具 :030% 在積極的資產配置以外, 基金亦會積極地在亞洲股票 亞洲定息收益和其他資產種類中挑選投資項目 就亞洲股票組合而言, 基金打算集中在能夠產生真正的股東價值 擁有強而穩定的收入來源, 和提供高而持續的股息收益的公司 至於亞洲定息收益組合, 基金打算以參考基礎和技術意見如估值 供應和需求情況, 及流動性來選擇提供資本增值的證券 基金亦會基於經理人對利率的看法而進行存續期管理 存續期是量度投資組合價值對利率改變的敏感度 因此, 存續期管理即是管理利率走勢對投資組合價值的影響 例如, 利率上升通常對債券的價值有負面影響, 故經理人會減低投資組合的存續期以減少利率上升時引致的影響 基金亦可為對沖的目的運用衍生工具, 縱使經理人並無責任就此作出行動 在特殊情況下 ( 例如 : 股災或重大危機 ), 基金可持有的現金及貨幣市場工具如銀行存款 存款證 商業票據及庫券不得超過其資產的 30% 2

17 施羅德亞洲高息股債基金 投資於中國 A 股可經滬港股票市場交易互聯互通機制和深港股票市場交易互聯互通機制 ( 合稱為 互聯互通機制 ) 進行 詳情載於解釋說明書內 互聯互通機制 一節 基金可透過投資於金融工具如某些可進入中國市場的產品, 間接投資於中國 A 股 此外, 基金將限制其於可進入中國市場的產品及 / 或與中國 A 股表現掛鉤的衍生產品的各發行人的總投資為不超過其資產淨值的 10% 基金可直接投資於在中國內地發行或銷售的定息和債務工具 ( 境內中國定息證券 ) 於透過根據債券通( 誠如解釋說明書內標題為 中國銀行間債券市場概況 一節中進一步描述 ) 及 / 或有關規例可能不時允許的其他方式投資於中國銀行間債券市場 ( 中國銀行間債券市場 ) 可獲得對境內中國定息證券的直接投資 基金於中國 A 股 中國 B 股及中國境內定息證券的直接和間接總投資將不會超過其資產淨值的 20% 基金將有限度地投資於以人民幣定值的投資項目 經理人管理基金時亦會考慮基金的派息政策 詳情請參閱銷售文件內標題為 派息 一節 基金有哪些主要風險? 投資涉及風險 請參閱銷售文件, 了解風險因素等資料 1. 股票投資風險 基金於股本證券的投資, 須承受市值波動的風險 市值波動的因素很多, 例如投資情緒 政治環境和經濟環境的改變 有關發行商的獨特因素 區域性或環球性的經濟不穩 貨幣和利率的浮動 如股價下跌, 基金的資產淨值亦可能受負面影響 2. 有關投資於定息證券的風險 低於投資級別和未獲評級的債務證券 投資於低於投資級別或未獲評級的定息證券, 與擁有較高評級證券相比, 一般承受較高程度的對手方風險 信用風險 波動性風險 流動性風險和本金虧損的風險 信貸和對手方風險 投資於定息證券承受發行商的信貸 / 違約風險, 可能負面地影響證券的結算 信貸評級的風險 由信貸評級機構給予的信貸評級受若干限制, 不可在所有時間保證證券和 / 或發行商的信貸價值 中國內地信貸評級機構使用的評級準則和方法或會有異於大多數資深的國際信貸評級機構所採用的評級準則和方法 故此, 該等評級制度未必能提供與國際信貸評級機構同等的標準作證券評級比較之用 利率風險 投資於基金承受利率風險 一般來說, 利率下跌時債務證券的價格會上升, 而利率上升則價格會下跌 信貸評級被降低的風險 定息證券或其發行商的信貸級別可能在後來被降級 當被降級, 基金的價值可能受負面影響 經理人未必即時出售該等證券, 基金或會因而承受增加損失的風險 3

18 施羅德亞洲高息股債基金 流動性和波動性風險 未上市 未獲評級或未有活躍交易的證券的流動性偏低和波動性偏高, 其價格或會承受波動 該等證券的買賣差價或會偏高, 基金在出售該等工具時可能會產生重大的交易成本, 甚至可能蒙受損失 估值風險 對基金的投資進行的估值或涉及含糊和主觀的決定 假如該等估值原來是不正確的, 可能影響基金的資產淨值計算 3. 有關派息的風險 經理人可酌情決定從基金的資本中支付派息 即相當於從閣下原本投資的金額中, 或從該等金額賺取的資本收益中退回或提取部份款項, 可能即時導致相關收息單位的價值下跌 基金基礎貨幣和對沖單位類別之參考貨幣的利率差別可能負面地影響對沖單位類別的派息和資產淨值, 導致從對沖單位類別資本中支付的利息和資本被侵蝕的程度較其他非對沖單位類別的為高 4. 新興和較落後市場 基金可投資於新興和較落後市場 投資於新興和較落後市場涉及的風險較投資於已發展國家的證券為高, 例如擁有權及保管權風險 政治和經濟風險 市場及結算風險 流動性及波動風險 法律及監管風險 執行及交易對手方風險及貨幣風險 基金的每股資產淨值亦可能負面地受影響, 投資者繼而蒙受損失 5. 貨幣及兌換風險 基金的投資項目的貨幣單位可能是與基金基礎貨幣不同的各種貨幣單位 某單位類別亦可以不同於基金基礎貨幣的貨幣定值 基金的資產淨值或會因這些貨幣與基礎貨幣之間滙率浮動和匯率控制的變更而受到不利的影響 6. 有關房地產投資基金的風險 ( REITs ) 透過於 REITs 的投資, 除證券市場風險以外, 可能承受類似直接持有房地產的相關風險 REITs 的價格受其擁有之相關房地產價值改變影響 REITs 依靠管理技巧, 一般來說不會多元化 基金投資的若干 特別目的 REITs, 其資產可能屬於特定的房地產行業, 如酒店 REITs 護理院 REITs 或貨倉 REITs, 因此承受該等行業發展不利的相關風險 基金投資的 REITs 未必需要證監會的認可, 基金的派息政策或未能反映相關 REITs 的派息政策 4

19 施羅德亞洲高息股債基金 7. 有關對沖和對沖類別的風險 基金不保證市場能提供合意的對沖工具或對沖技術可達到理想效果 在不利的情況下, 基金可能會蒙受重大虧損 因該等對沖交易引致的任何開支將由相關對沖類別承擔 對沖可能會阻礙單位持有人在基金基本貨幣升值時得益 8. 人民幣 ( 人民幣 ) 貨幣風險及人民幣類別相關風險 人民幣現時不可自由兌換, 須遵守外匯管制政策及限制 無法保證人民幣不會貶值 人民幣的任何貶值可負面地影響投資者於以人民幣定值類別的投資價值 人民幣類別參考境外人民幣 ( CNH ) 而非境內人民幣 ( CNY ) 的價值計值 CNH 及 CNY 雖屬相同貨幣, 但以不同的利率交易 CNH 與 CNY 的任何分別可能負面地影響投資者 並非以人民幣為基本貨幣的投資者, 在投資人民幣類別時可能須將港幣或其他貨幣兌換為人民幣, 其後亦須將贖回人民幣所得款項及 / 或人民幣派息 ( 如有 ) 兌換為港幣或該等其他貨幣 因此視乎人民幣兌港幣或其他貨幣的匯率走勢而定, 投資者將須承擔貨幣匯兌成本並可能帶來損失 在極端市況下, 以人民幣支付贖回款項及 / 或派息可能因人民幣的外匯管制和限制而延遲 9. 與透過互聯互通機制投資相關的風險 有關互聯互通機制的規則和規例或會更改, 並可能潛在追溯效力 互聯互通機制受額度限制所限 當透過機制的交易被暫停, 基金經機制投資於中國 A 股或進入中國內地市場的能力將受到不利影響 在該等情況下, 基金達致其投資目標的能力可受到負面影響 10. 有關中國銀行間債券市場的風險 透過債券通投資於中國銀行間債券市場須承受監管風險及各種風險, 例如波動性風險 流動性風險 結算和對手方風險及一般適用於債務證券的其他風險因素 透過債券通投資於中國銀行間債券市場的相關規則及規例會變更, 並可能具追溯效力 倘若有關中國內地機關暫停開戶或在中國銀行間債券市場進行買賣, 基金投資於中國銀行間債券市場的能力將受到不利影響 在此情況下, 基金實現投資目標的能力將受到負面影響 11. 金融衍生工具 涉及金融衍生工具的風險包括對手方風險 信貸風險 流動性風險 估值風險 波動性風險 場外交易風險和對沖風險, 金融衍生工具的槓桿元素部分可導致顯著地較金融衍生工具投資金額為大的虧損 該等投資或須承受重大的資本虧損風險 5

20 施羅德亞洲高息股債基金 本基金過往的業績表現如何? 30% 20% 10% 0% 10% 26.1% 14.1% 10.4% 6.5% 0.8% % 註 往績並非預測日後業績表現的指標 投資者未必能取回全部投資本金 基金業績表現以歷年末的資產淨值作為比較基礎, 股息會滾存再作投資 上述數據顯示 A 類別 ( 港元累積 ) 總值在有關歷年內的升跌幅度 業績表現以港元計算, 當中反映出基金的持續費用, 但不包括基金可能向閣下收取的認購費及贖回費 如年內沒有顯示有關的業績表現, 即代表當年沒有足夠數據用作提供業績表現之用 基金發行日 :2011 A 類別 ( 港元累積 ) 發行日 :2011 經理人視 A 類別 ( 港元累積 )( 即以基金的基本貨幣計值的零售單位類別 ) 為基金的最適合代表單位類別 註 : 這些年度的業績表現乃在不再適用的情況下取得的 在這些年度, 基金出現重大變更, 即投資目標及政策變更及費用下調 本基金有否提供保證? 本基金並不提供任何保證 閣下未必能取回投資本金 投資本基金涉及哪些費用及收費? 閣下或須繳付的收費 基金單位交易或須繳付以下費用 費用 金額 單位類別 A C 認購費 ( 首次認購費 ) 投資金額的最高 5.00% 轉換費轉換金額的最高 5.00% 贖回費 無 6

21 施羅德亞洲高息股債基金 基金持續繳付的費用 以下收費將從基金總值中扣除, 閣下的投資回報將會因而減少 每年收費率 ( 佔基金資產淨值百分比 ) 單位類別 A C 經理人費 * 1.25% 0.625% 受託人費 0.07% ( 惟最低收費為每年 156,000 港元 ) 業績表現費 行政費 ( 服務提供機構的費用 ) 不適用 0.02% 至 0.2% 之間 * 基金在給予單位持有人最少一個月的事先通知後可將收費調高, 以基金的資產淨值 7% 為限 其他費用 閣下進行基金單位交易或須繳付其他費用 有關由基金繳付的費用, 請參閱銷售文件 其他資料 施羅德投資管理 ( 香港 ) 有限公司在基金每個交易日交易截止時間 ( 即香港時間下午 5 時正 ) 或之前直接或經配售商收妥的認購或贖回要求, 一般按隨後釐定的基金相關資產淨值執行 閣下作出認購或贖回指示前, 請向閣下的配售商查問其內部的交易截止時間, 因其交易截止時間可能會較基金的為早 經理人備有一份從資本中支付股息之各收息單位類別過去 12 個月的派息成份表 ( 即分別從資本和淨收入中支付股息的百分比 ), 該成份表可向經理人索取, 亦可瀏覽施羅德網站 ( ) 供香港投資者認購的其他單位類別的業績表現上載至網站 基金在每一交易日計算基金資產淨值及刊登單位價格, 並上載至網站 該網站未經證監會審閱 重要提示 閣下如有疑問, 應諮詢專業意見 證監會對本概要的內容並不承擔任何責任, 對其準確性或完整性亦不作出任何陳述 7