BEA_fund_watch_2016_issue3_04_AW

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2 Important notice 重要通知 Investment involves risks. The price of units may go down as well as up as the investments of a fund are subject to the market fluctuations and the risks inherent in investments. Past performance is not indicative of future performance. Investors should make sure they fully understand the risks associated with the relevant investment fund and should also consider their own investment objectives and risk tolerance level. Some funds are entitled to use financial derivative instruments to meet its investment objectives and may therefore lead to higher volatility to its net asset value. It is possible that investors may lose some or the entire amount they have invested in such funds. Before making any investment, investors should refer to relevant investment fund offering documents, e.g. Prospectus/Explanatory Memorandum, for detailed information including risk factors. The funds illustrated in this document may not be available in all jurisdictions subject to restrictions. Investors should not make an investment decision based solely on this document. If investors are in doubt, independent professional advice should be sought. The Bank of East Asia, Limited (BEA) is an agent of the third party fund house and the fund is a product of the third party fund house but not BEA. For distribution of funds - In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between BEA and the customer out of the selling process or processing of the related transaction, BEA is required to enter into a Financial Dispute Resolution Scheme process with the customer; however any dispute over the contractual terms of the product should be resolved between directly the third party fund house and the customer. 投資涉及風險 基金的單位價格可升可跌 基金產品的組合需承受市場波動及買賣投資有其內在風險 基金產品的過往表現不可作為其 未來表現之指標 投資者應確保其完全理解有關投資基金所附帶的風險 並應考慮其自身的投資目標及可承受的風險水平 若干基金可利用金融衍生工具以達到其投資目標 此類投資有可能增加基金資產淨值的波幅 投資者有可能會損失其已投資於該等基金 的部分或全部款項 在作出任何投資決定前 投資者應參閱有關投資基金之銷售文件如認購章程/基金說明書 以取得包括風險因素在內的詳細資料 本文件 所述之基金可能只限在某些司法管轄區提供 投資者不應只單憑本文件而作出投資決定 如投資者有任何疑問 應諮詢獨立專業意見 東亞銀行有限公司 本行 為第三方基金公司的基金產品代理商 有關基金產品為第三方基金公司的產品而非本行的產品 適用於分銷基金 - 對於本行與客戶之間因銷售過程或處理有關交易而產生的合資格爭議 定義見金融糾紛調解計劃的金融糾紛調解的中心 職權範圍 本行須與客戶進行金融糾紛調解計劃程序 然而 對於有關產品的合約條款的任何爭議應由第三方基金公司與客戶直接解決 Global or regional or single country equities 環球或地區性或單一國家股票 Funds with an asset allocation primarily in global or regional or single country equities 資產主要分配於環球或地區性或單一國家股票之基金 Fund Name 基金名稱 Calendar Year 年度表現 % Cumulative 累積表現 % Fund Facts 基金資料 Fund Size Inception (In millions)2 Date 基金資產總值 成立日期 百萬元 YTD 年初至今 Fund Characteristic 基金特色 BEA Risk Level -year 東亞風險 Sharpe Ratio 級別 2011 三年夏普 比率 AB - Low Volatility Equity Portfolio (AD/), 5, 7, 14 10/201 聯博 低波幅策略股票基金 AD/美元, 5, 7, 14 美元 % 5.1% 9.4% Fidelity Funds Emerging Asia Fund (A/acc/) 5, 15 富達基金 新興亞洲基金 A/累積/美元 5, 15 04/2008 美元 % -6.4% 1.9% 0.7% 19.% -21.2% Invesco Pan European Structured Equity Fund (A/acc/ Hgd) 5, 16 景順歐洲指標增值基金 A/累積/美元對沖 5, 16 07/2014 EUR 歐元 7, % 14.1% JPMorgan Asia Equity Dividend Fund (mth/) 4, 7, 17 摩根亞洲股息基金 每月派息/美元 4, 7, 17 05/201 美元 1, % -6.9% 9.% Pictet - High Dividend Selection (HPdm/HKD), 4, 18 百達 全球高息精選 HP每月派息/港元, 4, 18 07/201 EUR 歐元 1, % 5.2% 7.7%

3 Multi-asset 多元資產 Funds with a specific targeted asset allocation between global or regional equities and bonds 資產主要分配於特定目標的全球或區域股票及債券之基金 Fund Name 基金名稱 BEA Union Investment Asia Pacific Multi Income Fund, 4, 5, 6, 7, 12 (A/dis/) 東亞聯豐亞太區多元收益基金, 4, 5, 6, 7, 12 (A/ 分派 / 美元 ) Schroder Asian Asset Income Fund, 4, 5, 6, 7, 1 (A/dis/) 施羅德亞洲高息股債基金, 4, 5, 6, 7, 1 (A/ 派息 / 美元 ) Fund Facts 基金資料 Inception Date 成立日期 05/ /2011 Fund Size (In millions) 2 基金資產總值 ( 百萬元 ) 2 ( 美元 ) HKD ( 港元 ) 29,591.2 Cumulative 累積表現 (%) 2016 YTD 年初至今 4.5% 5.0% -.4% Calendar Year 年度表現 (%) % 2.7% 10.5% 5.1% 0.7% 26.4% Fund Characteristic 基金特色 -year Sharpe Ratio 三年夏普比率 BEA Risk Level 東亞風險級別 Regional bonds 地區性債券 Funds with an asset allocation primarily in regional debt securities (including both public and private debts) 資產主要分配於地區性債務證券 ( 包括公眾及私人債務 ) 之基金 Fund Name 基金名稱 Fund Facts 基金資料 Aberdeen Global - Select Emerging Markets Bond Fund, 4, 6, 8 (A1) 安本環球 新興市場, 4, 6, 8 債券基金 (A1) Allianz Dynamic Asian High Yield Bond Fund (Amg/dis/) 4,5,6,7,9 安聯動力亞洲高收益債券基金 (Amg/ 收息 / 美元 ) 4,5,6,7,9 BlackRock Global Funds - BlackRock Global Corporate Bond Fund 5, 10 (A6/) 貝萊德全球基金 貝萊德環球企業債券基金 5, 10 (A6/ 美元 ) Fidelity Funds - Asian Bond Fund 4, 5, 11 (A/Acc/) 富達基金 亞洲債券基金 4, 5, 11 (A/ 累積 / 美元 ) Inception Date 成立日期 Cumulative 累積表現 (%) 2016 YTD 年初至今 08/2001 ( 美元 ) 7.4% -4.6% 2.0% -5.6% 18.6% 5.1% , / /2011 Fund Size (In millions) 2 基金資產總值 ( 百萬元 ) 2.9% -1.6% Calendar Year 年度表現 (%) % 0.4% Fund Characteristic 基金特色 -year Sharpe Ratio 三年夏普比率 0.81 BEA Risk Level 東亞風險級別 09/2015 ( 美元 ) 7.2% ( 美元 ) 2,186. ( 美元 ) %.1% 8.6% -2.5% 11.0%

4 FUND WATCH 投資卓見 Investment by sector/theme 行業 / 主題投資 Funds with an asset allocation primarily in specific sectors according to investment themes 資產根據投資主題主要分配於特定行業之基金 Fund Name 基金名稱 Henderson Horizon Fund Global Technology Fund 4, 7, 19 (A1) 亨德森遠見基金 環球科技基金 4, 7, 19 (A1) Janus Global Life Sciences Fund (A/Acc/) 20 駿利環球生命科技基金 (A/ 累積 / 美元 ) 20 Fund Facts 基金資料 Inception Date 成立日期 Fund Size (In millions) 2 基金資產總值 ( 百萬元 ) 2 Sources: Morningstar Asia Limited - data dated 1st May, /2005 ( 美元 ) -1.2% 4.1% 10.6% 25.6% 1.4% -.7% ,059.9 Remarks: Portfolio currency is adopted for calculations for fund size. Cumulative 累積表現 (%) 2016 YTD 年初至今 Calendar Year 年度表現 (%) 資料來源 :Morningstar Asia Limited, 並為其於 2016 年 5 月 1 日所提供之資料 Except from footnote stated, base currency is adopted for calculations for each mentioned share class of the fund. 註 : 基金總值以其基金投資組合貨幣計算 除特別註明外, 基金資料以其基金貨幣類別之基準貨幣計算 Fund Characteristic 基金特色 -year Sharpe Ratio 三年夏普比率 BEA Risk Level 東亞風險級別 0/2000 ( 美元 ) -8.1% 5.7% 2.7% 52.5% 22.5% 6.1% ,58.2 PP071(07/2016)

5 NOTES 1. The Sharpe Ratio indicated for this fund is based on the annualised return and volatility over a one-year period. 2. If investment returns are not denominated in HKD or, investors are exposed to exchange rate fluctuations.. Investment in emerging markets involves above-average investment risks, for instance, possible fluctuations in foreign exchange rates, and political and economic uncertainties. 4. This fund offers dividend distribution classes. Please refer to the Prospectus/Explanatory Memorandum/ Offering Document for further information on dividend distribution. 5. Transactions in financial derivative instruments may be used to meet the investment objectives or for hedging purpose of the Fund, and may therefore lead to higher volatility to its net asset value and may involve a greater degree of risk than is the case with conventional securities. 6. If the investment objective of the relevant fund is to invest in non-investment grade debt securities, it is subject to lower creditworthiness and higher risk of default than investment grade securities. Such investments may be subject to high volatility and involve significant risks that could result in loss of part or entire amount of investors' investment. 7. The Management Company has the sole and absolute discretion to amend the dividend policy, subject to the SFC's prior approval and by giving prior notice to investors (only if applicable). Dividend yield is not indicative of return of the Portfolio. Dividends (if any) may be paid from capital, rather than out of gross income, of the Portfolio at the discretion of the Management Company, which may amount to a partial return or withdrawal of an investor's original investment or from any capital gains attributable to that original investment and such dividends may result in an immediate decrease of the Net Asset Value per Share. 8. The Fund invests in fixed interest securities issued by corporations and/or government related bodies in emerging markets. The Fund's underlying investments are subject to interest rate risk and credit risk. Interest rate fluctuations affect the capital value of investments. Credit risk reflects the ability of a bond issuer to meet its obligations. Investment in this fund may involve a high degree of risk and may not be suitable for all investors. It is possible that the entire value of the investment could be lost. Investors are responsible for their investment decisions and should ensure that the intermediary has advised on fund's suitability and consistency with their investment objective. If in doubt, please seek independent financial and professional advice. 9. The Fund is exposed to significant risks which include investment/general market, interest rate changes, creditworthiness, emerging market, country and region and currency risks. 10. The Fund invests in debt securities that are subject to both actual or perceived downgrading. The Fund may be affected by changes in prevailing interest rates and by credit quality considerations. The Fund invests in certain emerging markets that may be subject to additional risks arising from political, economic and market factors. Class 6 Shares pay dividends gross of expenses or from capital at the Directors' discretion. Class 8 Shares pay dividends gross of expenses and include interest rate differential or pay dividends from capital at the Directors discretion. Negative interest rate differentials may decrease the dividends paid, and in extreme cases may deduct from capital. Paying dividends gross of expenses may result in more income being available for distribution; however these shares of the Fund may effectively pay dividends from capital. Dividends paid from capital may amount to a partial return or withdrawal of an investor's original investment or capital gains. All declared dividends result in an immediate reduction in the NAV price of the share class on the ex-dividend date. 11. This fund invests primarily in Asian bonds. This fund may be subject to investment and foreign currency risk, the risks of investing in emerging markets specific to the Asian market and securitised or structured debt instruments. This fund may invest in bonds or debt securities which may be subject to credit, liquidity, counterparty and market risks. The fund will invest in investment grade debt securities, which may be subject to ratings downgrades by the rating agencies that may affect the net asset value of the fund. The fund will also invest in non-investment grade bonds and unrated securities which may be subject to greater credit and liquidity risks, and may be more volatile than higher rated securities. Dividend of certain share classes, at the Board's discretion, may be 1) paid out of gross income which will result in an increase in distributable income for dividends payment and the fund may pay dividend effectively out of capital; or 2) paid directly out of capital where the net income generated by the fund is insufficient to pay a distribution as declared. This will represent a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. This may result in an immediate decrease in the fund's NAV per share. 12. The Fund invests directly in listed REITs, equities and managed funds, and is thus subject to the risks generally associated with such asset classes, including but not limited to liquidity of the asset class, changes in investment sentiment, political environment, economic, business and social conditions in local and global marketplace. In terms of currency hedged class units, adverse exchange rate fluctuations between the base currency of the Fund and the class currency of the currency hedged class units may result in a decrease in return and/or loss of capital for unitholders. Over-hedged or under-hedged positions may arise and there can be no assurance that these currency hedged class units will be hedged at all times or that the manager will be successful in employing the hedge. Investors may invest in RMB (Hedged) units. It should be noted that the RMB is currently not a freely convertible currency as it is subject to foreign exchange control policies of the Chinese government. There is also no assurance that the RMB will not be subject to devaluation. Any devaluation of the RMB could adversely affect the value of investors' investments. There is no guarantee that the hedging strategy will be effective and investors may still be subject to the RMB currency exchange risk. 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. 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. The effects of hedging will be reflected in the net asset values of the respective hedged classes. Expenses arising from hedging transactions may be significant and will be borne by the relevant hedged classes. This may preclude such investors to benefit from an increase in the value of the fund's base currency. 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.

6 14. Investment in the portfolio may also involve country risks, equities securities risk, currency risk and liquidity risk. The value of the portfolio can be volatile and can go down substantially within a short period of time. It is possible that the entire value of your investment in the portfolio can be lost. A portfolio of AB SICAV I. AB SICAV I (referred to as "AB") is an open-ended investment company with variable capital (société d'investissement à capital variable) under the laws of the Grand Duchy of Luxembourg. Prior to 5 February 2016, the Fund s legal name was ACMBernstein SICAV, its trading name was AllianceBernstein. 15. This fund invests primarily in equity securities in less developed countries of Asia. The fund is subject to investment, equities, foreign currency risk and risks of investing in emerging markets specific to the Asian market. The fund may invest in China A shares directly through the Qualified Foreign Institutional Investor ("QFII") scheme and may incur losses due to limited investment opportunities, illiquidity of the China A shares market, and/or delay or disruption in execution of trades or in settlement of trades. The fund may invest in equity linked notes which may subject to the default risk of the structurer of the note. The fund may invest in certain eligible China A Shares via the Stock Connect which may be subject to clearing risk, settlement risk, restrictions on selling imposed by front-end monitoring, nominee arrangements in holding China A Shares and regulatory risk. 16. The Fund invests in a diversified portfolio of equities of companies with their registered office in a European country or exercising their business activities predominantly in European countries which are listed on recognized European stock exchanges. Investors should note the risk of investing in Europe, risk of Eurozone crisis, concentration risk of investing in European companies, equities risk, investment risk, and risk relating to those share classes denominated/dealt in a different currency than the base currency of the Fund. For certain share class(es), the Fund may at discretion pay dividend out of the capital or pay dividend out of gross income while charging the fees and expenses out of the capital to increase the distributable income for the payment of dividends (i.e. effectively pay dividend out of capital). Payment of dividends out of capital amounts to a return or withdrawal of part of an investor's original investment or from any capital gains attributable to that original investment. Such distributions may result in an immediate reduction in the net asset value per share. 17. The Fund invests in equity securities of companies in the Asia Pacific region (excluding Japan) that the investment manager expects to pay dividends. The Fund will have limited RMB denominated underlying investments. The Fund is therefore exposed to a range of investment related risks which includes emerging markets, equity, dividend-paying equity risk (no guarantee that the companies that the Fund invests in and which have historically paid dividends will continue to pay dividends or to pay dividends at the current rates in the future), real estate market related risks (associated with the risk of investing in REITs and other property related securities; direct investment in real estate is not permitted), diversification, currency, distribution (no assurance on distribution, distribution rate or dividend yield) risks. For currency hedged classes, risks associated with the hedging and class currency. For RMB hedged class, risks associated with the RMB currency and currency hedged classes risks. RMB is currently not freely convertible and RMB convertibility from offshore RMB (CNH) to onshore RMB (CNY) is a managed currency process subject to foreign exchange control policies of and restrictions imposed by the Chinese government. There can be no assurance that RMB will not be subject to devaluation at some point. The Manager may, under extreme market conditions when there is not sufficient RMB for currency conversion and with the approval of the Trustee, pay redemption monies and/or distributions in. 18. Pictet-High Dividend Selection will invest mainly in shares and similar securities (including structured products) of companies from which high, or higher dividends than those of their reference market, are expected. The "reference market" refers to the sectors of the global equities universe having a market capitalisation above 1 billion. 19. The Fund primarily invests in a globally diversified portfolio of technology-related companies. Investments in the Fund are exposed to technology sector-specific risks and varying degree of risks to economic, political, regulatory and social development changes globally. The Fund may invest substantial sum of its assets in companies located in a single country (including emerging market, eg. China) and may involve a higher concentration of risk and market volatility, including liquidity risks for investments in emerging markets, than funds investing in developed markets and following a more diversified policy. Investments in the Fund involve varying degree of investment risks (eg. market, legal, financial, interest rate, currency, etc). In extreme market conditions, you may lose your entire investment in the Fund. 20. The Fund may invest in any one or a combination of the following instruments: - futures, options and swaps and other financial derivative instruments ("FDI") for investment purposes, up to 10% of the net asset value ("NAV") of the Fund. Given the leverage effect of FDI, such investments may result in substantial loss (as much as 100% of the NAV of the relevant Fund); - debt securities rated below investment grade; and - mortgage and asset-backed securities and/or in index/structured securities. These financial instruments may be rated below investment grade. Investing in any one of the above instruments may involve substantial credit/counterparty, market, liquidity, currency, leverage, index, interest and swap risks. If the issuers default, or such securities or their underlying assets, cannot be realised or perform badly, investors' entire investments may be lost. The Fund's investments involve developing markets. Owing to its potentially higher volatility and risk levels, as well as lower political and economic stability than developed markets, asset values could be affected in various levels. The Fund's investments may be more concentrated in terms of industry risk than others that diversify across industries and may therefore be subject to higher industry risk than funds with more diversified holdings. Sources: Information in this publication is provided by Aberdeen International Fund Managers Limited, AllianceBernstein Hong Kong Limited, Allianz Global Investors Asia Pacific Limited, BEA Union Investment Management Limited, BlackRock Asset Management North Asia Limited, FIL Investment Management (Hong Kong) Limited, Henderson Global Investors (Hong Kong) Limited, Invesco Asset Management Asia Ltd, Janus Capital Asia Limited, J.P. Morgan Asset Management, Pictet Asset Management (Hong Kong) Limited and Schroder Investment Management (Hong Kong) Limited. Investors should refer to the Prospectus/Explanatory Memorandum of the respective funds for details of risks, or other fees and charges. The selected funds listed in Fund Watch are constructed based on a number of objective attributes, which can be perceived differently by different investors. The information contained herein should neither be treated as a specific recommendation made to individual investors nor a substitute for appropriate professional financial advice. This material has not been reviewed by the Securities and Futures Commission in Hong Kong.

7 備註 1. 此基金的夏普比率是根據過往一年的年度化回報及年度波幅而釐定 2. 如投資收益並非以港元或美元計算者, 投資者需承受匯率波動的風險. 投資於新興市場需承受高於一般的投資風險, 例如, 可能出現的外匯利率波動 以及政治與經濟之不明朗因素 4. 此基金設有派息類別 有意投資之人仕應參閱認購章程 / 基金說明書 / 銷售文件 5. 本基金可能買賣金融衍生工具以達到基金的投資目標, 或作對沖多種風險用途 因而或會導致其資產淨值波動較大, 而且所涉及風險可能較傳統證券為高 6. 若有關基金之投資目標是投資於非投資級別債務證券, 該投資與投資級別證券相比涉及較低信用可靠性及較高違約風險 該等投資的波動性可能很大, 也可能涉及重大風險, 可能潛在導致你在該基金的投資全部虧損 7. 管理公司擁有全權及絕對酌情權修改派息政策, 有關派息政策的修改須獲證監會預先批准, 及向投資者發出事先通知 ( 如適用 ) 派息率並非基金回報的指標 管理公司可酌情從基金資本中支付派息 ( 如有 ), 派息金額可能等於從投資者的原本投資金額中退回或提取部分款項, 或從投資者的原本投資金額的資本收益中提取 ( 而並非從總收入中支付 ), 有關股息可能導致每股資產淨值即時下跌 8. 本基金投資於由新興市場公司及 / 或政府相關組織所發行的定息證券 本基金的相關投資須承受利率風險及信貸風險 利率波動影響投資的資本值 信貸風險反映債券發行人履行其責任的能力 投資於本基金可能涉及高風險, 未必適合所有投資者 投資者有可能失去全部投資價值 投資者須對所作出的投資決定負責, 也應確保中介人已向他們解釋基金是否適合他們及符合他們的投資目標 如有任何疑問, 請諮詢獨立財務顧問的專業意見 9. 此基金須承受重大風險包括投資 / 一般市場 利率變動 信用 新興市場 國家及區域及貨幣的風險 10. 基金投資於評級受實際或預期下降影響的債務證券 基金可能受現行利率改變及信貸質素因素影響 基金投資於若干新興市場, 可能需承受政治 經濟及市場因素產生的額外風險 6 股份類別在未扣除開支之下派付股息或在基金董事酌情決定下從資本派付股息 8 股份類別在未扣除開支之下並包括以股份類別貨幣對沖引起的息差派付股息或在基金董事酌情決定下從資本派付股息 息差虧損則或會減少派付的股息, 在極端情況下或會從資本扣除 在未扣除開支之下派付股息, 可產生更多可供分派的收入 然而, 這些股份實際上可能從資本派付股息 從資本派付的股息可能等於投資者獲得部分原投資額回報或資本收益 所有宣派股息均會導致股份於除息日的每股資產淨值立即減少 11. 本基金主要投資於亞洲債券 本基金可能涉及投資及外幣風險 投資新興市場尤其是亞洲市場的特定風險 以及投資於證券化或結構性債務工具的風險 本基金可投資於債券或債務證券, 此等債券或證券或須承受信貸 流動性 對手及市場風險 本基金可投資於投資級別債務證券, 此等債券可能會被評級機構調低評級而影響基金的資產淨值 本基金亦可投資於非投資級別債券及未獲評級證券, 此等債券的信貸及流動性風險可能較高, 及波幅可能較高評級證券為高 若干股份類別的股息在董事會酌情決定下可能 1) 從總收益中撥付, 導致可供派息之用的收益增加, 因此, 基金可能實際上從資本中作出股息分派 ; 或 2) 直接從資本中撥付, 因基金產生的淨收益不足以支付所宣派的股息 這代表投資者獲付還或提取原有投資本金的部份金額, 或從原有投資應佔的任何資本收益中獲付還或提取金額 該等分派可能導致基金的每股資產淨值即時減少 12. 本基金直接投資於上市 REIT 股票及管理基金, 導致本基金承受一般與該等資產類別相關的風險, 包括但不限於資產類別流動性 投資氣氛 政局 經濟環境, 以及本地和全球市場商業及社會狀況的轉變 就各貨幣對沖類別單位而言, 本基金的基本貨幣與貨幣對沖類別單位的類別貨幣之間的不利匯率波動可能導致單位持有人的回報減少及 / 或資本損失 過度對沖或對沖不足的持倉可能出現, 概不保證貨幣對沖類別單位於所有時間均已進行對沖或基金經理將能成功使用對沖 投資者可投資人民幣 ( 對沖 ) 單位 請注意, 人民幣目前並非自由可兌換貨幣, 須受中國政府的外滙管制政策之規限 此外, 並不保證人民幣不會貶值 人民幣貶值可能對投資者的投資價值造成不利影響 概不保證對沖策略可完全有效, 投資者仍可能需承受人民幣匯率風險 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 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 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可能巨大, 並將由相關對沖類別承擔 這可能阻礙此等投資者從基金基本貨幣的升值而得益 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 14. 投資於本基金亦可能涉及國家風險 股本證券風險 貨幣風險及流動性風險 基金價格可反覆波動, 並可在一段短時期內顯著下跌 閣下於本基金的投資可能會價值全失 AB SICAV I 旗下的一個投資組合 AB SICAV I( 即 "AB") 是根據盧森堡法律註冊成立的本開放式可變資本投資公司 在 2016 年 2 月 5 日之前, 基金的法定名稱為 ACMBernstein SICAV, 營業名稱為 AllianceBernstein 15. 本基金主要投資於亞洲新興國家的股票證券 基金可能涉及投資 股票 外幣風險及投資於新興市場以及亞洲市場的特定風險 基金可透過合格境外機構投資者 ("QFII") 計劃直接投資於中國 A 股, 並可能因投資機會有限而引致虧損, 中國 A 股市場欠流通, 及 / 或交易執行或交易結算延遲或中斷 基金可投資於股票掛鈎票據, 須承受建構票據的一方的違約風險 基金可透過滬港通投資於若干合資格的中國 A 股, 可能須面對結算風險 交收風險 透過前端監察限制賣盤 持有中國 A 股的名義持有人安排及監管風險 16. 本基金投資於一項多元化的公司股份投資組合 ; 該等公司的註冊辦事處須設於歐洲國家或其絕大部份業務在歐洲國家經營業務並在認可歐洲證券交易所上市 投資者務請留意投資歐洲的風險, 歐元區危機風險, 投資於歐洲國家公司的集中風險, 股票風險, 投資風險, 股份類別的計價 / 買賣貨幣並非基金基本貨幣的風險 就若干股份類別而言, 本基金可酌情自資本中撥付股息或從總收入中撥付股息, 並從資本中扣除費用及開支, 令可供分派股息的可分派收入增加 ( 即實際上從資本中撥付股息 ) 從資本撥付股息即等同從投資者的原本投資退還或提取部分或從該原本投資應佔的任何資本增值中退還或提取 該等分派或會令每股資產淨值即時下降 17. 本基金投資於亞太區 ( 日本除外 ) 內 投資經理人預期會派發股息的公司之股票 本基金將有限度投資於以人民幣計價的投資項目 本基金因而須承受多種投資相關風險, 包括新興市場 股票 派息股風險 ( 概無保證本基金所投資並曾派息的公司將於未來繼續派息或以現時比率派息 ) 房地產市場相關風險( 包括房地產投資信託及其他地產相關證券 ; 不允許直接投資地產 ) 分散投資 貨幣 分派( 分派 分派率或收益率並不受保證 ) 風險 貨幣對沖類別的對沖及類別貨幣相關風險 人民幣對沖類別的人民幣貨幣及貨幣對沖類別風險 人民幣現時不可自由兌換 將境外人民幣 (CNH) 兌換為境內人民幣 (CNY) 是一項貨幣管理程序, 須遵守由中國政府實施的外匯管制政策及限制 概無保證人民幣不會在某個時間貶值 在極端市況下市場未能提供足夠人民幣作兌換時及獲信託管理人批准後, 經理人可以美元支付贖回所得款項及 / 或分派

8 FUND WATCH 投資卓見 18. 百達 - 全球高息精選將主要投資於預期會獲得高股息或較其參考市場更高股息的公司的股份及類似證券 ( 包括結構性產品 ) 參考市場 指全球股票範圍內擁有市值超過 10 億美元的行業 19. 本基金主要是投資於技術相關公司的全球多樣化投資組合 本基金的投資會蒙受科技和技術類行業的特定風險及全球的經濟 政治 監管和社會發展變化等不同程度的風險 相對於採取多元化投資政策的基金, 基金可將大部份資產投資於單一國家的公司股份 ( 包括新興市場, 例如 : 中國 ), 故可能涉及較高的集中投資及市場波幅風險, 及包括投資新興市場內的公司股票其流動性可能較差等風險 基金投資涉及不同程度的投資風險 ( 例如市場 法律 金融 利率 貨幣等風險 ) 在極端的市場環境下, 投資者可能損失全數的投資本金 20. 本基金可投資以下一種或多種工具 : - 期貨 期權和掉期, 以及其他金融衍生工具 ( 金融衍生工具 ) 作投資用途, 惟最多以其資產淨值的 10% 為限 鑑於金融衍生工具含槓桿效應, 該等投資可能導致重大虧損 ( 可多達有關基金的資產淨值 100%); - 低於投資評級的債務證券 ; - 按揭及有資產支持的證券及 / 或指數 / 結構型證券 此等金融工具可為低於投資評級 投資於上述任何一種投資工具, 可能涉及重大的信貸 / 交易對手 市場 流動性 貨幣 槓桿 指數 利率及掉期風險 如發行人違約, 或該等證券或彼等的相關資產不能變現或表現差, 投資者可能損失全部投資 本基金涉及投資發展中市場部份, 因其波幅與風險程度可能較高, 且其政治與經濟情勢穩定度可能低於已開發國家, 也可能使資產價值受不同程度之影響 本基金集中投資於相關行業, 因此所投資的項目或較其他投資於多個不同行業的基金集中, 有可能較持有多元化資產的基金承受較高的行業風險 資料來源 : 本刊之資料由安本國際基金管理有限公司 聯博香港有限公司 安聯環球投資產亞太有限公司 東亞聯豐投資管理有限公司 貝萊德資產管理北亞有限公司 富達基金 ( 香港 ) 有限公司 亨德森全球投資 ( 香港 ) 有限公司 景順投資管理亞洲有限公司 駿利資產管理亞洲有限公司 摩根資產管理公司 百達資產管理 ( 香港 ) 有限公司及施羅德投資管理 ( 香港 ) 有限公司提供 有關基金的風險或其他收費及費用之詳情, 請參閱有關認購章程 / 基金說明書 投資卓見之基金名單乃根據多項客觀準則而編制, 不同投資者對該等準則有不同之理解 本文所載資料不應視為向個別投資者作出之特定推薦建議或專業財務意見 本資料並未經香港證券及期貨事務監察委員會審閱 EXPLANATORY NOTE BEA Risk Level - BEA Risk Level is assigned by BEA to each distributing investment fund product in a scale of 1 to 5, with 1 indicating the lowest risk category and 5 being the highest. The BEA Risk Level of each investment fund is assigned by BEA according to its product features and corresponding risk factors. The categorization results may be different from those provided by the respective fund houses. BEA may revise the BEA Risk Level assigned to an investment fund product from time to time without prior notice. For more information on the BEA Risk Levels and the respective investment preference, please visit your nearest BEA branch. Sharpe Ratio - This is a standard financial term used to measure a fund's risk taking efficiency against returns generated based on historical records. The higher the value is, the better the fund is in delivering risk-adjusted returns. For statistical validity, -month US Treasury bill rate with a minimum of a -year horizon and a referencing base position, i.e. return of a relevant risk free investment, are usually adopted in the calculation of the Sharpe Ratio. DISCLAIMER Investment involves risks. lnvestors should be aware of the market fluctuations and the risks inherent in investments. Investment in emerging markets involves above-average investment risks, for instance, possible fluctuations in foreign exchange rates, political and economic uncertainties. Before making any investment, investors should refer to all relevant investment fund offering documents, including the Explanatory Memorandum, for detailed information including the risk factors. Past performance is not indicative of future performance. Investors should make sure they fully understand the risks associated with the relevant investment fund and should also consider their own investment objectives and risk tolerance level. Investors are reminded that they are responsible for their investment decisions and should not rely on the advice, information or opinion of the intermediary as a substitute for reading the relevant offering documents and the exercise of their own judgment. The advice or opinion expressed by the intermediary is for reference only and is based on certain assumptions. Accordingly, no advice, information or opinion of the intermediary is to be relied on by investors as professional or financial advice and no warranty is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of investors acting on any advice, information or opinion of the intermediary. If in doubt, please seek independent professional advice. The information provided in this document (including any commentary) is provided solely for informational purposes and does not constitute any offer, solicitation, invitation, advice, or recommendation to subscribe for or redeem any investments or securities. Although the information contained in this document is obtained from sources that The Bank of East Asia, Limited ("BEA") considers reliable, BEA does not guarantee its accuracy or completeness. Information relating to individual funds may be subject to change and the latest information published by respective investment fund houses shall prevail. No responsibility is accepted by BEA for the use of or reliance on information provided herein. This document has not been reviewed by the Securities and Futures Commission in Hong Kong. 附註 東亞風險級別 東亞風險級別將經由東亞銀行代理的眾多基金產品界定為 5 個級別 每隻基金產品的風險級別均以 1 至 5 的程度排列, 以第 1 級別風險程度為最低, 第 5 級別風險程度為最高 由東亞銀行為每隻基金制定的風險級別主要考慮其產品特點及相關風險因素 東亞風險級別或會與有關基金公司建議的有所不同 東亞銀行可不時更改就某一隻基金產品所界定的東亞風險級別而不作事先通知 有關東亞風險級別及相應投資取向之詳情, 請親臨就近的東亞銀行分行查詢 夏普比率 典型財務用語, 用以根據過往紀錄量度基金之風險承受效率與所產生回報之比率 比率愈高, 即基金調整風險後之回報愈高, 為確保統計上之有效性, 在計算夏普比率時, 通常採用三個月美國國庫債券息率 最少 年時限及一參考基準 ( 即相關無風險投資回報 ) 免責聲明投資涉及風險 投資者應注意市場波動及買賣投資有其內在風險 投資於新興市場需承受高於一般的投資風險, 例如, 可能出現的外匯利率波動 以及政治與經濟之不明朗因素 投資者在作出任何投資決定前, 應參閱所有有關基金產品之銷售文件包括基金說明書, 以取得包括風險因素在內的詳細資料 基金的過往表現不可作為其未來表現之指標 投資者應確保其完全理解有關基金產品所附帶的風險, 並應考慮其自身的投資目標及可承受的風險水平 謹提醒投資者, 其須對所作出的投資決定負責及不應依賴中介人的建議 資料或意見作為取代自行參閱有關銷售文件及自行作出的評估 中介人所發表的任何建議或意見只作參考之用, 並引用某些假設作出 因此, 投資者不應視中介人所發表的任何建議 資料或意見為專業或財務意見而加以倚賴 對於投資者根據中介人所發表的任何建議 資料或意見行事而直接或間接遭受的任何損失, 中介人概不作任何保證或承擔任何責任 如有疑問, 請尋求獨立專業意見 本文件所提供之資料 ( 包括任何評論 ) 僅供作參考, 並不構成任何認購或贖回投資或證券之要約 游說 邀請 意見或建議 儘管本文件所載之資料乃來自東亞銀行有限公司 ( 本行 ) 認為可靠之資料來源, 惟本行並不保證其準確性及完整性 個別基金的資料可變更, 一切資料以基金公司最新公佈為準 本行概不承擔任何因使用或依賴本文件所提供資料而引致之任何責任 本文件並未經香港證券及期貨事務監察委員會審閱 Issued by The Bank of East Asia, Limited 東亞銀行有限公司刊發