HSBC Global Investment Funds

Transcription

1 HSBC Global Investment Funds Prospectus Dated: 8 June 2015 Valid till: 7 June 2016 Asia ex Japan Equity Asia Pacific ex Japan Equity High Dividend Asia ex Japan Equity Smaller Companies BRIC Equity Brazil Equity Chinese Equity Emerging Wealth Euroland Equity European Equity Global Bond Global Emerging Markets Bond Global Emerging Markets Equity Economic Scale Index Global Equity Global Equity Climate Change Global Equity Volatility Focused Global High Income Bond Global High Yield Bond Indian Equity Economic Scale Index Japan Equity Korean Equity Latin American Equity Managed Solutions - Asia Focused Conservative Managed Solutions - Asia Focused Growth Managed Solutions - Asia Focused Income Russia Equity Singapore Equity Thai Equity Taiwan Equity Turkey Equity Economic Scale Index US Equity

2 Dated 8 June 2015 Valid till 7 June 2016 HSBC GLOBAL INVESTMENT FUNDS SINGAPORE PROSPECTUS (REQUIRED PURSUANT TO DIVISION 2 OF PART XIII OF THE SECURITIES AND FUTURES ACT (CAP 289)) This Singapore Prospectus incorporates and accompanies the attached Luxembourg prospectus dated November 2014 relating to HSBC GLOBAL INVESTMENT FUNDS, an open-ended investment company with multiple sub-funds established in the Grand Duchy of Luxembourg and constituted outside Singapore. HSBC GLOBAL INVESTMENT FUNDS has appointed HSBC Global Asset Management (Singapore) Limited as its Singapore Representative (whose details appear in paragraph 2.7 of this Singapore Prospectus).

3 HSBC GLOBAL INVESTMENT FUNDS DIRECTORY Registered Office 16, boulevard d Avranches, L-1160 Luxembourg, Grand Duchy of Luxembourg Board of Directors of the Company George Efthimiou (Global Chief Operating Officer) HSBC Global Asset Management Limited 78 St James s Street, London SW1A 1HL, United Kingdom Dr. Michael Boehm (Chief Operating Officer) HSBC Global Asset Management (Deutschland) GmbH Königsallee 21/23, Düsseldorf, Germany Jean de Courrèges (Independent Director) Carne Global Financial Services Luxembourg S.à.r.l, European Banking and Business Centre 6B route de Trèves, L-2633 Senningerberg, Grand Duchy of Luxembourg Eimear Cowhey (Independent Director) Resident in the Republic of Ireland Peter Dew (Independent Director) Resident in the United Kingdom Dean Lam (Managing Director) HSBC Bank (Mauritius) Limited 6 th Floor, HSBC Centre, 18 CyberCity, Ebene, Mauritius John Li (Independent Director) The Directors' Office S.A. 19 rue de Bitbourg, L-1273 Luxembourg, Grand Duchy of Luxembourg Joanna Munro (Global Head of Fiduciary Governance) HSBC Global Asset Management Limited 78 St James Street, London SW1A 1HL, United Kingdom Management Company HSBC Investment Funds (Luxembourg) S.A. 16, boulevard d Avranches, L-1160 Luxembourg, Grand Duchy of Luxembourg 2

4 Board of Directors of the Management Company Edmund Stokes (Global Head of Product (Chairman)) HSBC Global Asset Management Limited 78 St James s Street, London, SW1A 1HL, United Kingdom Tony Corfield (Chief Operating Officer) HSBC Global Asset Management (UK) Limited 78 St James s Street, London, SW1A 1HL, United Kingdom Cecilia Lazzari (Conducting Officer) HSBC Investment Funds (Luxembourg) S.A. 16, boulevard d'avranches, L-1160 Luxembourg, Grand Duchy of Luxembourg Richard Long (Head of Global Funds Operations) HSBC Investment Funds (Luxembourg) S.A. 16, boulevard d'avranches, L-1160 Luxembourg, Grand Duchy of Luxembourg Edgar K M Ng (Head of Business Support Asia Pacific) HSBC Global Asset Management (Hong Kong) Limited HSBC Main Building, 1 Queen s Road Central, Hong Kong Sylvie Vigneaux (Head of Regulatory and Wealth Engineering) HSBC Global Asset Management (France) Immeuble Ile de France 4, Place de la Pyramide, La Défense 9, Puteaux, France Investment Advisers HSBC Global Asset Management (Hong Kong) Limited Level 22, HSBC Main Building, Queen's Road Central, Hong Kong HSBC Global Asset Management (USA) Inc. 452 Fifth Avenue, 18 th Floor, New York, NY 10018, USA HSBC Global Asset Management (UK) Limited 8 Canada Square, London E14 5HQ, United Kingdom HSBC Bank Brasil S.A. Banco Múltiplo Travessa Oliviera Belo, 11-B, Curitiba, Brazil HSBC Portfoy Yonetimi A.S. Esentepe Mahallesi, Büyükdere Caddesi, No.128, Sisli, Istanbul, Turkey HSBC Global Asset Management (France) Immeuble Ile de France, 4, Place de la Pyramide, La Défense 9, Puteaux, France 3

5 Depositary Bank HSBC Bank Plc, Luxembourg Branch 16, boulevard d Avranches, L-1160 Luxembourg, Grand Duchy of Luxembourg Administration Agent HSBC Bank Plc, Luxembourg Branch 16, boulevard d Avranches, L-1160 Luxembourg, Grand Duchy of Luxembourg Registrar and Transfer Agent HSBC Bank Plc, Luxembourg Branch 16, boulevard d Avranches, L-1160 Luxembourg, Grand Duchy of Luxembourg Central Paying Agent HSBC Bank Plc, Luxembourg Branch 16, boulevard d Avranches, L-1160 Luxembourg, Grand Duchy of Luxembourg Singapore Representative and Singapore Distributor HSBC Global Asset Management (Singapore) Limited Company Registration Number: R (Tel: Fax: ) Business Address: 21 Collyer Quay, #06-01 HSBC Building, Singapore Registered Address: 21 Collyer Quay, #10-02 HSBC Building, Singapore Singapore Share Registrar HSBC Institutional Trust Services (Singapore) Limited (Company Registration Number: R) 20 Pasir Panjang Road (East Lobby) #12-21 Mapletree Business City Singapore Auditors KPMG Audit S.à.r.l., Réviseurs d'entreprises Agrée 9, allée Scheffer, L-2520 Luxembourg, Grand Duchy of Luxembourg Legal Advisers to HSBC GLOBAL INVESTMENT FUNDS as to Luxembourg Law Elvinger, Hoss & Prussen 2, Place Winston Churchill, L-1340 Luxembourg, Grand Duchy of Luxembourg Legal Advisers to HSBC GLOBAL INVESTMENT FUNDS as to Singapore Law Chan & Goh LLP 50 Craig Road, #03-01, Singapore

6 HSBC GLOBAL INVESTMENT FUNDS IMPORTANT INFORMATION The sub-funds of HSBC GLOBAL INVESTMENT FUNDS (the Company ), which are being offered for subscription to investors in Singapore pursuant to this Singapore Prospectus (each a Sub-Fund and collectively the Sub-Funds ), are recognised schemes under the Securities and Futures Act (Cap 289) of Singapore. A copy of this Singapore Prospectus has been lodged and registered with the Monetary Authority of Singapore (the Authority ). The Authority assumes no responsibility for the contents of this Singapore Prospectus. Registration of this Singapore Prospectus by the Authority does not imply that the Securities and Futures Act or any other relevant legal or regulatory requirements have been complied with. The Authority has not, in any way, considered the investment merits of the Sub-Funds. This Singapore Prospectus incorporates and is not valid without the Luxembourg prospectus dated November 2014 (the Luxembourg Prospectus ) attached as a Schedule to this Singapore Prospectus. The Luxembourg Prospectus forms part of this Singapore Prospectus and should be read together with this Singapore Prospectus. HSBC GLOBAL INVESTMENT FUNDS is an open-ended investment company with an umbrella structure, established in Luxembourg. Only certain Shares of the Sub-Funds are listed on the Luxembourg Stock Exchange. The board of directors of the Company (the Board of Directors or the Directors ) has taken all reasonable care to ensure that the facts stated in this Singapore Prospectus are true and accurate in all material respects and that there are no other material facts, the omission of which makes any statement in this Singapore Prospectus misleading, whether of fact or opinion. All the members of the Board of Directors accept responsibility accordingly. This Singapore Prospectus does not constitute an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not lawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation. The delivery of this Singapore Prospectus or the issue of Shares in the Sub-Funds shall not, under any circumstances, create any implication that the affairs of the Company have not changed since the date of this Singapore Prospectus. This Singapore Prospectus may be updated from time to time to reflect material changes and investors should investigate whether a more recent Singapore Prospectus or a supplementary prospectus is available. Shares of the Company may not be offered or sold to any other U.S. Person (an Other USP ). For the purposes of this restriction, the term Other USP shall mean the following: 1. An individual who is deemed a resident of the U.S. under any U.S. law or regulation. 2. An entity: i. that is a corporation, partnership, limited liability company or other business entity: a. that was created or organized under U.S. federal or state law including any non- U.S. agency or branch of such entity; or b. where regardless of place of formation or organization, was organized principally for passive investment (such as an investment company or fund or similar entity other than an employee benefit plan or employee pension scheme for the employees, officers, or principals of a non-u.s. entity having its principal place of business outside the United States); and owned directly or indirectly by one or more Other USPs, with respect to which such Other USPs (unless defined as a Qualified Eligible Person under CFTC Regulation 4.7(a)) directly or indirectly hold in the aggregate 10% or greater beneficial interest; or 5

7 ii. iii. where an Other USP is the general partner, managing member, managing director or other position with authority for directing the entity's activities; or was formed by or for an Other USP principally for the purpose of investing in securities not registered with the SEC; or where more than 50% of its voting ownership interests or non-voting ownership interests are directly or indirectly owned by Other USPs; or c. that is any agency or branch of a non-u.s. entity located in the U.S.; or d. has its principal place of business in the U.S.; or that is a trust created or organized under U.S. federal or state law or regardless of the place of creation or organization; a. where one or more Other USPs has the authority to control all substantial decisions of the trust; or b. where the administration of the trust or its formation documents are subject to the supervision of one or more U.S. courts: or c. where any settlor, founder, trustee, or other person responsible for decisions related to the trust is an Other USP; or that is an estate of a deceased person regardless of where the person resided while alive where an executor or administrator is an Other USP. 3. An employee benefit plan established and administered in accordance with the laws of the U.S. 4. A discretionary or non-discretionary investment account or similar account (other than an estate or trust) held by a non-u.s. or U.S. dealer or other fiduciary for the benefit or account of an Other USP (as defined above). For the purpose of this definition, the United States and U.S. means the United States of America (including the States and the District of Columbia), its territories, possessions and other areas of subject to its jurisdiction. If, subsequent to a shareholder s investment in the Company, the shareholder becomes an Other USP, such shareholder (i) will be restricted from making any additional investments in the Company and (ii) as soon as practicable have its shares compulsorily redeemed by the Company (subject to the requirements of the Articles of Incorporation and the applicable law). The Company may, from time to time, waive or modify the above restrictions. Investment in the Sub-Funds requires consideration of the normal risks involved in investment and participation in securities. Investors should note that the price of shares in the Company (each a Share and collectively the Shares ) and the income from them may go down as well as up and that investors may not receive on redemption of their Shares, the amount that they invested. Investors should also note that a Sub-Fund may from time to time use or invest in financial derivative instruments for investment, hedging and/or efficient portfolio management purposes. Please refer to paragraph 6 of this Singapore Prospectus for further details of the risks. Investors should seek professional advice to ascertain (a) the possible tax consequences, (b) the legal requirements and (c) any foreign exchange restrictions or exchange control requirements which they may encounter under the laws of the countries of their citizenship, residence or domicile, and which may be relevant to the subscription, redemption or switching of their Shares. Investors should also read the section in the Luxembourg Prospectus on Important Information. All enquiries in relation to the Sub-Funds should be directed to HSBC Global Asset Management (Singapore) Limited at (65)

8 HSBC GLOBAL INVESTMENT FUNDS TABLE OF CONTENTS 1. BASIC INFORMATION MANAGEMENT & ADMINISTRATION OF THE COMPANY INVESTMENT OBJECTIVES, FOCUS AND APPROACH SUPPLEMENTARY RETIREMENT SCHEME FEES AND CHARGES RISKS SUBSCRIPTION AND ISSUE OF SHARES REGULAR SAVINGS PLAN REDEMPTION OF SHARES SWITCHING BETWEEN SUB-FUNDS OBTAINING PRICES OF SHARES SUSPENSION OF DEALINGS PERFORMANCE OF THE SUB-FUNDS COMMISSION SHARING ARRANGEMENTS AND SOFT DOLLAR COMMISSIONS CONFLICTS OF INTEREST REPORTS QUERIES AND COMPLAINTS OTHER MATERIAL INFORMATION...65 APPENDIX...74 SCHEDULE

9 1. BASIC INFORMATION 1.1 The Company HSBC GLOBAL INVESTMENT FUNDS (the Company ) is an open-ended investment company incorporated on 21 November 1986 under the laws of the Grand Duchy of Luxembourg as a Société Anonyme which qualifies as a Société d Investissement à Capital Variable ( SICAV ). It also qualifies as an Undertaking for Collective Investment in Transferable Securities ( UCITS ) under Part I of the Luxembourg law of 17 December 2010 ( 2010 Law ) implementing Directive 2009/65/EC into Luxembourg Law. The Company has adopted an umbrella structure, which allows it to offer investors within the same investment vehicle, a choice of investments in one or more sub-funds (each a Sub- Fund and collectively the Sub-Funds ) in respect of which a separate portfolio of investments is held, which are distinguished by their specific investment objectives, policies and/or currency of denomination ( Base Currency ). 1.2 There are currently thirty Sub-Funds on offer for subscription to Singapore investors and they are set out in paragraph 1.3 below. Full information relating to the Sub-Funds is set out in the Luxembourg Prospectus attached as a Schedule to this Singapore Prospectus. 1.3 Separate classes ( Classes ) of shares in the Company (each a Share and collectively, Shares ) may be issued in relation to each Sub-Fund. Currently, Class A, Class M and/or Class P Shares in the following Sub-Funds as set out below, may be offered for subscription in Singapore in the Reference Currency or Dealing Currency available, as the case may be:- Sub-Funds* BOND SUB-FUNDS Class of Shares Available Base Currency Dealing / Reference Currency** Global Bond A USD EUR/USD/SGD Global Emerging Markets Bond A/P 1 USD EUR/USD/SGD/ CHF (Hedged)/ SGD (Hedged)/ AUD (Hedged)/ EUR (Hedged) Global High Income Bond A USD USD/SGD/ SGD (Hedged)/ AUD (Hedged)/ EUR (Hedged) Global High Yield Bond A 2 USD USD/SGD/ SGD (Hedged)/ AUD (Hedged)/ EUR (Hedged) EQUITY SUB-FUNDS (a) International and Regional Equity Sub- Funds Asia ex Japan Equity A USD EUR/USD/SGD Asia ex Japan Equity Smaller Companies A USD EUR/USD/SGD Asia Pacific ex Japan Equity High Dividend A USD EUR/USD/SGD BRIC Equity A/M 3 USD EUR/USD/SGD/CHF 4 Emerging Wealth A USD EUR/USD/SGD 8

10 Sub-Funds* Class of Shares Available Base Currency Dealing / Reference Currency** Euroland Equity A EUR EUR/USD/SGD European Equity P EUR EUR/USD/SGD Global Emerging Markets Equity A/P 5 USD EUR/USD/SGD Global Equity Climate Change A USD EUR/USD/SGD Global Equity Volatility Focused A USD USD/ SGD (hedged)/ AUD (hedged)/ EUR (hedged) Latin American Equity A USD EUR/USD/SGD (b) Market Specific Equity Sub-Funds Brazil Equity A USD EUR/USD/SGD Chinese Equity A USD EUR/USD/SGD Indian Equity A USD EUR/USD/SGD/CHF 4 Korean Equity A USD EUR/USD/SGD Russia Equity A USD EUR/USD/SGD Singapore Equity A USD EUR/USD/SGD Taiwan Equity A USD EUR/USD/SGD Thai Equity A USD EUR/USD/SGD Turkey Equity A EUR EUR/USD/SGD INDEX SUB-FUNDS Economic Scale Index Global Equity A USD EUR/USD/SGD Economic Scale Index Japan Equity P JPY EUR/USD/SGD Economic Scale Index US Equity P USD EUR/USD/SGD OTHER SUB-FUNDS Managed Solutions Asia Focused Conservative A USD USD/SGD/ SGD (Hedged)/ AUD (Hedged)/ EUR (Hedged) Managed Solutions Asia Focused Growth A USD USD/SGD/ SGD (Hedged)/ AUD (Hedged)/ EUR (Hedged) Managed Solutions Asia Focused Income A USD USD/SGD/ SGD (Hedged)/ AUD (Hedged)/ EUR (Hedged) * In this Singapore Prospectus, the short names of the Sub-Funds are used. They should be read with HSBC Global Investment Funds preceding them. ** Offer and Redemption Prices are expressed in the Reference Currency or Dealing Currency available, as the case may be. 1 Class P Shares of the Global Emerging Markets Bond are closed to new subscriptions from 1 January 2011 except for Shareholders with an existing Regular Savings Plan. 2 This Share Class is currently not offered to retail investors in Singapore and may be offered at a later date 9

11 3 4 5 at the discretion of the Singapore Representative. Class M Shares of the BRIC Equity are closed to new subscriptions from 1 April 2010 except for Shareholders with an existing Regular Savings Plan. This Share Class is only available through specific distributors selected by the Singapore Representative and is currently not offered to retail investors in Singapore. Class P Shares of the Global Emerging Markets Equity are closed to new subscriptions from 12 February 2010 except for Shareholders with an existing Regular Savings Plan. 1.4 Classes of Shares The Management Fees applicable to Class A, Class M and Class P Shares (where offered within the same Sub-Fund) are structured differently. Investors may wish to refer to Section 3.2 of the Luxembourg Prospectus which sets out the Management Fees payable in respect of the various Share Classes. All Shares of the same class have equal rights and privileges. Each Share is, upon issue, entitled to participate equally in assets of the relevant Class of the Sub-Fund to which it relates on liquidation and in dividends and other distributions as declared for such Sub-Fund. The Shares will carry no preferential or pre-emptive rights and each whole Share will be entitled to one vote at all meetings of Shareholders. Within each Share Class of a sub-fund, the Company shall be entitled to create different subclasses, distinguished by their distribution policy (Capital-Accumulation (C), Distribution (D), Quarterly Distribution (Q) and Monthly Distribution (M) Shares), their reference currency, their hedging or currency overlay activity (H) and/or by any other criteria stipulated by the Board of Directors. The dividend distribution feature is present in the Distribution and Monthly Distribution shares but not in the Capital-Accumulation Shares. Distribution and Monthly Distribution Shares may be made available to Singapore investors for some or all Sub-Funds. The dividends of Distribution Shares will be declared at the end of each financial year. Monthly Distribution Shares will pay a dividend normally on a monthly basis. The Directors may declare interim dividends in respect of certain Sub-Funds. The Board of Directors will normally recommend that distributions are made from investment income. However, for Monthly Distribution and Quarterly Distribution Shares, if the investment income is not sufficient, the Directors may determine if, and to what extent, the monthly or quarterly dividend may be paid out of capital, or paid gross of expenses. For Monthly / Quarterly Distribution Share Classes of a Sub-Fund (if made available for subscription), investors should note that distributions out of capital (if any) will reduce the Net Asset Value of the relevant Share Class of the Sub-Fund. The dividends declared for any relevant class of Distribution Shares available in Singapore will be reinvested automatically (unless otherwise permitted by the Singapore Representative) in the acquisition of further Shares relating to the relevant class of Shares in the Sub-Fund. Such Shares will be purchased on the next Dealing Day after the date of payment of the dividend. Shares allocated as a result of such reinvestment will not be subject to any sales charge. Monthly Distribution Shares will pay a dividend normally on a monthly basis. Distribution Shares will pay a dividend normally on a quarterly basis. Quarterly Currency Hedged Share Classes and Currency Overlay Share Class Within a Sub-Fund, separate currency hedged Shares Classes or currency overlay Share Classes may be issued (suffixed by "H" and the currency into which the Base Currency is hedged or the currency into which the currency the sub-fund s total assets are primarily invested in, is hedged. These currency hedged Share Classes or currency overlay Share Classes will be named: "ACHEUR" or "ACHGBP" for a Capital-Accumulation Share Class hedged into Euro or Pound Sterling). 10

12 Currency hedged Share Classes are offered for Sub-Funds which are: (i) wholly, or almost wholly, exposed to their Base Currency (or another currency to which the Sub-Fund is predominately exposed) or (ii) managed with the aim to obtain a total return calculated in their Base Currency whilst the underlying investments of the Sub-Fund are exposed to multiple currencies. Currency overlay Share Classes are offered for Sub-Funds which have no direct economic exposure to their Base Currency and whereby all investors in these Share Classes will be exposed to the exchange rate movements of the underlying portfolios currencies against the Base Currency. Subscriptions and redemptions are only accepted in the currency of the currency hedged Share Class and currency overlay Share Class. For a currency hedged Share Class or currency overlay Share Class, the Administration Agent or other appointed parties are entitled to any fees relating to the execution of the currency hedging policy, which will be borne by the currency hedged Share Class or currency overlay Share Class. These fees are in addition to the Operating, Administrative and Servicing Expenses detailed under Section (4) "Operating, Administrative and Servicing Expenses / Operating Currency Hedging Fees" of the Luxembourg Prospectus. Where the Administration Agent or other appointed parties takes these fees, the maximum rate for fees relating to the execution of the currency hedging policy is 0.06% per annum subject to a minimum annual fee of EUR 15,000 per each currency hedged Share Class or currency overlay Share Class. Any gains or losses from the currency hedging shall also accrue to the relevant currency hedged Share Class or currency overlay Share Class. Currency hedged Share Classes and currency overlay Share Classes will be hedged irrespective of whether the target currency is declining or increasing in value. No assurance can be given that the hedging objective will be achieved. Share Class Reference Currencies The Management Company may decide to issue within a Sub-Fund Share Classes having a different Reference Currency (currency denomination) which denotes the currency in which the Net Asset Value per Share will be calculated. In principle, Share Classes may be issued in the following reference currencies: Euro, Hong Kong Dollar and Pound Sterling ( Share Class Reference Currencies ). Share Classes in other Share Class Reference Currencies may be available on application to the Company. A Share Class Reference Currency is identified by a standard international currency acronym added as a suffix, e.g. ACEUR for a Capital-Accumulation Share Class expressed in Euro. Unless otherwise provided for in the Luxembourg Prospectus, subscriptions and redemptions are only accepted in the currency of the Share Class Reference Currency. Where Share Classes are issued in a Share Class Reference Currency other than the Base Currency of the relevant Sub-Fund, the portfolio remains exposed to the currencies of the underlying holdings. No hedging is undertaken for those Share Classes except otherwise provided in the Section 3.2. "Sub-Fund Details" of the Luxembourg Prospectus. 11

13 Dealing Currencies In addition to Share Class Reference Currency, currency hedged Share Class or currency overlay Share Class, Shares may be available in the Base Currency of the relevant Sub-Fund and in the following dealing currencies ("Dealing Currencies"): Euro, Pound Sterling, Hong Kong Dollar, Singapore Dollar and US Dollar. Australian Dollar, Canadian Dollar, Japanese Yen, Polish Zloty and Swiss Franc may be available as Dealing Currencies in certain Classes or through selected distributors and/or in certain countries. Other Dealing Currencies may also be available on application to the Company. Where Share Classes are issued only in different Dealing Currencies, the underlying portfolio remains exposed to the currencies of the underlying holdings. No hedging is undertaken for those Share Classes except otherwise provided in the Section 3.2. "Sub-Fund Details" of the Luxembourg Prospectus. 1.5 Date of lodgement and expiry date of this Singapore Prospectus The date of registration of this Singapore Prospectus with the Authority is 8 June This Singapore Prospectus shall be valid for 12 months after the date of registration and shall expire on 8 June The Articles of Incorporation The articles of incorporation of the Company were published in the Legal Gazette Mémorial, Recueil des Sociétés et Associations ( Mémorial ) in Luxembourg on 17 December 1986 and the latest amendment was published in the Mémorial on 16 January Copies of the articles of incorporation may be inspected in Singapore by contacting the Singapore Representative at 21 Collyer Quay, #06-01 HSBC Building, Singapore during normal business hours. 1.7 The Share Register A subsidiary share register (the Register ) is kept at the address of the Singapore Share Registrar, HSBC Institutional Trust Services (Singapore) Limited at 20 Pasir Panjang Road (East Lobby), #12-21 Mapletree Business City, Singapore and is accessible for inspection to the public during normal business hours at the business office of the HSBC Global Asset Management (Singapore) Limited at 21 Collyer Quay, #06-01 HSBC Building, Singapore The Register is conclusive evidence of the number of Shares in the Sub- Funds held by each Shareholder and the details in the Register shall prevail in the event of any discrepancy between the entries in the Register and the details appearing on any statement of holding, unless the Shareholder proves to the satisfaction of the Singapore Representative that the Register is incorrect. 1.8 Definitions Some of the capitalised terms used in this Singapore Prospectus are defined in the Luxembourg Prospectus. The following terms appearing in this Singapore Prospectus have the meanings set out below: Business Day Dealing Day a day on which banks are open for normal banking business in Singapore and Luxembourg. any Business Day (other than days during a period of suspension of dealing in Shares) and which is also for each Sub-Fund (other than those materially invested in North or South America), a day where stock exchanges and regulated markets in countries where the Sub-Fund is materially invested are open for normal trading. 12

14 For Sub-Funds materially invested in North or South American markets, any Business Day (other than days during a period of suspension of dealing in Shares) except a Business Day following the day where stock exchanges and regulated markets in such countries were closed for normal trading. The Business Days which are not Dealing Days will be listed in the annual report and semi-annual reports and available at the office of the Singapore Representative. Any amendments to such lists are also available at the office of the Singapore Representative. NAV net asset value of a Sub-Fund or a Share calculated in accordance with Section 2.8(6) of the Luxembourg Prospectus on NAV Calculation Principles. 1.9 Method of Valuation The valuation principles of the assets of the Company are summarised below: 1. The assets of each Class within each Sub-Fund are valued on each Dealing Day (unless otherwise provided in Section 3.2. "Sub-Fund Details" of the Luxembourg Prospectus). If after such valuation there has been a material change in the quoted prices on the markets on which a substantial portion of the investments of the Company attributable to a particular Sub-Fund is dealt or quoted the Company may, in order to safeguard the interests of the shareholders and the Company, cancel the first valuation and carry out a second valuation. In the case of such a second valuation, all issues, conversions or redemptions of Shares dealt with by the Sub-Fund on such a Dealing Day must be made in accordance with this second valuation. 2. The Net Asset Value per Share of each Class within each Sub-Fund is determined by aggregating the value of securities and other permitted assets of the Company allocated to that Class and deducting the liabilities of the Company allocated to that Class. The Net Asset Value per Share of each Class is determined by dividing the net asset value of the Class concerned by the number of Shares of that Class outstanding and by rounding the resulting amount up or down to three decimal points. Any roundings will be borne by or credited to the relevant Class of Shares. 3. Securities and/or financial derivative instruments which are listed on an official stock exchange are valued at the last available price on the principal market on which such securities are traded. Securities traded on other organised markets are valued at the last available price or yield equivalents obtained from one or more dealers in such organised markets at the time of valuation. If such prices are not representative of their fair value, all such securities and all other permitted assets will be valued at their fair value at which it is expected they may be resold as determined in good faith by or under the direction of the Board of Directors. 4. Shares or units in another collective investment undertaking will be valued at the last available net asset value computed for such securities reduced by any applicable charges. If the last available net asset value of shares or units in another collective investment undertaking is not available as at the evaluation time for a specific Sub- Fund the relevant Investment Adviser will value such shares or units by an estimation carried out in accordance with the fair value adjustment methodology, the result of which will be provided to the Administration Agent. 5. The financial derivative instruments which are not listed on any official stock exchange 13

15 or traded on any other organised market will be valued in a reliable and verifiable manner on a daily basis, in accordance with market practice. 6. Any asset or liabilities expressed in terms of currencies other than the relevant currency of the Sub-Fund or Class concerned are translated into such currency at the prevailing market rates as obtained from one or more banks or dealers. The consolidated accounts of the Company for the purpose of its financial reports shall be expressed in US dollars. Please refer to Section 2.8 of the Luxembourg Prospectus for more information on valuations. 2. MANAGEMENT & ADMINISTRATION OF THE COMPANY 2.1 Board of Directors The Directors are responsible for the overall investment policy, objectives and management of the Company and the Sub-Funds. 2.2 The Management Company The Directors of the Company have appointed HSBC Investment Funds (Luxembourg) S.A. (the Management Company ), as the Management Company of the Sub-Funds. The Management Company is responsible on a day to day basis, under the supervision of the Directors, for providing administration, marketing, investment management and advice services in respect of all Sub-Funds. The Management Company has delegated the administration functions to the Administration Agent and registrar and transfer agency functions to the Registrar and Transfer Agent. The Management Company has delegated the marketing functions to the Singapore Distributors and the investment management services to the investment advisers. The Management Company and the investment advisers listed in paragraph 2.4 below are members of the HSBC Group, which serves customers worldwide from around 6,300 offices in 75 countries and territories in Europe, Asia, North and Latin America and the Middle East and North Africa. HSBC Global Asset Management is the core global investment solutions platform of the HSBC Group. With a global network of dedicated offices, HSBC Global Asset Management is able to create and deliver solutions to clients worldwide. As at end December 2014, HSBC Global Asset Management had USD billion worth of assets under management globally. The Management Company has been managing HSBC GLOBAL INVESTMENT FUNDS and collective investment schemes in general since September The regulatory authority for the Management Company is Commission de Surveillance du Secteur Financier. 2.3 Directors and Key Executives of the Management Company Edmund Stokes Global Head of Product (Chairman), HSBC Global Asset Management Limited Edmund Stokes has been with HSBC since 1993 and has held many positions of strategic importance for the company. Having started as a Graduate trainee, he became the Director for Strategic Planning & Development in 2003 and the Global Head of Products in In his current role, Edmund reports to the Global CEO and his work entails developing and delivering strategies and directions for products and being responsible for a Global Function consisting of over 120 employees. Edmund holds a BA from Sheffield City Polytechnic and a Post Graduate Diploma in Japanese. 14

16 Tony Cortfield Chief Operating Officer, HSBC Global Asset Management (UK) Limited Tony Cortfield joined HSBC as Chief Operating Officer in July 2008 and is responsible for operational, risk and IT issues of the private client, institutional and wholesale business of HSBC Global Asset Management in the United Kingdom and Jersey. He is a member of the UK Board and Local Executive Committee. Tony began his career in 1985 and spent 12 years in public service with HM Customs and Excise before joining the Internal Audit Department of UK Merchant Bank, Singer & Friedlander in Over the next 9 years, he performed a number of roles, leading to the position of Chief Operating Officer for the Private Bank. Following acquisition by Kaupthing in 2006, he was appointed Managing Director of Operations, responsible for managing the Investment Management, Banking, Treasury and Capital Markets Operations, and was a member of the UK Executive Committee. In this latter role, Tony gained significant exposure to the private client discretionary business. Tony is a Fellow of the Institute of Internal Auditors (UK) and holds a number of professional qualifications in Project Management and Development. Cecilia Lazzari Conducting Officer, HSBC Investment Funds (Luxembourg) S.A. Cecilia Lazzari is the Director & Permanent Risk Function and Conducting Officer & BRCM of HSBC Investment Funds (Luxembourg) SA, Luxembourg from February 2014 and December 2013 respectively. Prior to joining HSBC in 2013, she worked as Conducting Officer in Tower Management Company, SA, Luxembourg and MDO Management Company, SA, Luxembourg. She has an experience of 11 years in the investment industry. Cecilia is a Certified International Investment Analyst from the Association of Certified International Investment Analysts and a Certified European Financial Analyst from the European Federation of Financial Analysts Societies. She holds a Post-graduate Degree in Capital Markets from the University of Buenos Aires (Argentina). Richard Long Head of Global Funds Operations, HSBC Investment Funds (Luxembourg) S.A. Richard Long educated at Kingswood School in Bath (GCE O levels) and Cambridge Tutors in Croydon (GCE A levels, Law and Government & Political Studies). Richard joined HSBC in Richard moved into Asset Management in 1991 to look after unit trust administration and worked in Luxembourg between 1999 and 2002 as senior product manager for the Luxembourg funds. Richard returned to London to look after the global funds operations for the HSBC funds domiciled in Dublin and Luxembourg, before relocating to Luxembourg in October Richard is a Conducting Officer and Director of HSBC Investment Funds (Luxembourg) S.A. Edgar K M Ng Head of Business Support Asia Pacific, HSBC Global Asset Management (Hong Kong) Limited Edgar K M Ng is the Director and Head of the Business Support Asia Pacific of HSBC Global Asset Management (Hong Kong) Limited and has been working in the Asset Management industry since Prior to joining HSBC in 2008, Edgar worked as Chief Operating Officer at Credit Agricole Asset Management HK Ltd. Edgar holds a MBA Degree from the University of Manchester, and is a Certified Public Accountant with Hong Kong Institute of Certified Public Accountants. 15

17 Sylvie Vigneaux Head of Regulatory and Wealth Engineering, HSBC Global Asset Management (France) Sylvie Vigneaux has been associated with the HSBC Group of Companies since October 2000 and is currently Head of Regulatory and Wealth Engineering. Her team provides guidance to the French asset management business and handles all Legal and Compliance related areas of the French business at HSBC. Prior to joining HSBC, Sylvie was the head of Projects at Cardiff Insurance Company. She holds a University Degree in Accounting and Finance as well as a Degree in Political Sciences. 2.4 The Investment Advisers and Key Portfolio Managers The Management Company has appointed the following investment advisers (each an Investment Adviser and together Investment Advisers ), with the approval of the Board of Directors: Investment Advisers Sub-Funds Key Portfolio Managers HSBC Global Asset Management (France) HSBC Global Asset Management (UK) Limited HSBC Global Asset Management (Hong Kong) Limited Euroland Equity 1 Russia Equity BRIC Equity 1, 2 Global Equity Climate Change Global Bond 1 Emerging Wealth European Equity 1 Global Emerging Markets Equity 1 Global Equity Volatility Focused Economic Scale Index Global Equity 1 Economic Scale Index Japan Equity Economic Scale Index US Equity Asia ex Japan Equity 1 Asia ex Japan Equity Smaller Companies 1 Asia Pacific ex Japan Equity High Dividend 1 Chinese Equity 1 Indian Equity Guillaume Rabault Bill Maldonado Bill Maldonado Bill Maldonado Xavier Baraton Bill Maldonado Bill Maldonado Bill Maldonado Bill Maldonado Bill Maldonado Chris Cheetham Chris Cheetham Bill Maldonado Bill Maldonado Bill Maldonado Bill Maldonado Bill Maldonado 1 2 These Sub-Funds may, from time to time, reach a size above which they may, in the view of the relevant Investment Advisers, become difficult to be managed in an optimal manner. If this occurs, no new investors will be entitled to subscribe Shares in these Sub-Funds. Existing Shareholders should contact the Singapore Representative or other distribution agents appointed by the Singapore Representative or any other sales channel, if applicable to enquire on opportunities for ongoing subscriptions (if any). All existing Shareholders wishing to subscribe on a given Dealing Day will be treated equitably. The Investment Adviser has appointed HSBC Bank Brasil S.A. Banco Múltiplo to provide non-binding investment advice in respect of this Sub-Fund's Brazilian investments. The Investment Adviser has also appointed HSBC Global Asset Management (Hong Kong) Limited to provide discretionary investment management services in respect of this Sub-Fund's Chinese investments and Indian investments. 16

18 Investment Advisers Sub-Funds Key Portfolio Managers HSBC Global Asset Management (USA) Inc. HSBC Bank Brasil S.A. Banco Múltiplo HSBC Portfoy Yonetimi A.S. Korean Equity 1 Singapore Equity Taiwan Equity 1 Thai Equity Managed Solutions Asia Focused Conservative 1 Managed Solutions Asia Focused Growth 1 Managed Solutions Asia Focused Income 1 Global Emerging Markets Bond 1 Global High Income Bond 3 Global High Yield Bond 1, 4 Brazil Equity Latin American Equity 1 Turkey Equity 1 Bill Maldonado Bill Maldonado Bill Maldonado Bill Maldonado Denis Gould Denis Gould Denis Gould Xavier Baraton Xavier Baraton Xavier Baraton Pedro Bastos Bill Maldonado Namik Aksel The Investment Advisers, in accordance with the investment objectives and investment and borrowing restrictions of the Company, make and implement asset management and portfolio selection recommendations in connection with the investment and reinvestment of the assets of the Company in the relevant Sub-Funds. 2.5 Track record of the Investment Advisers (i) HSBC Bank Brasil S.A. Banco Múltiplo HSBC Bank Brasil S.A. - Banco Múltiplo was established in Brazil in 1997, when Banco HSBC Bamerindus SA was set up to take over the assets, liabilities and subsidiaries of Banco Bamerindus do Brasil S.A., which had been established in The bank s name was changed to HSBC Bank Brasil S.A. - Banco Múltiplo in As at end December 2014, HSBC Bank Brasil S.A. - Banco Múltiplo had USD billion worth of assets under management. The regulatory authority is Comissao de Valores Mobilarios. (ii) HSBC Portfoy Yonetimi A.S. HSBC Portfoy Yonetimi A.S. was established in Turkey in As at end December 2014, it had USD billion worth of funds under management. Asset types under management are mutual funds, pension funds, capital protected structured funds and Turkey Equity. HSBC Portfoy Yonetimi A.S. also provides discretionary portfolio services to high net worth individuals and to institutional clients. The regulatory authority is Capital Markets Board of Turkey. 3 4 The Investment Adviser has appointed HSBC Global Asset Management (France) and HSBC Global Asset Management (UK) Limited to provide discretionary investment management services in respect of a part of this Sub-Fund's portfolio. The Investment Adviser has appointed HSBC Global Asset Management (France) to provide discretionary investment management services in respect of a part of the Sub-Fund s portfolio. 17

19 (iii) HSBC Global Asset Management (Hong Kong) Limited HSBC Global Asset Management (Hong Kong) Limited was established in Hong Kong in 1973 and has over 30 years of experience in managing discretionary funds and collective investment schemes. It is regulated by the Securities and Futures Commission (SFC) in Hong Kong and as at end December 2014, it had USD billion worth of assets under management. The regulatory authority is Securities and Futures Commission of Hong Kong. (iv) HSBC Global Asset Management (USA) Inc. HSBC Global Asset Management (USA) Inc. was incorporated under the laws of New York State, United States on 29 January 1986, and is ultimately a wholly owned subsidiary of HSBC Holdings plc. As at end December 2014, HSBC Global Asset Management (USA) Inc. had USD billion worth of funds under management. The regulatory authority is Securities and Exchange Commission. (v) HSBC Global Asset Management (UK) Limited Formally established in United Kingdom in 1994, HSBC Global Asset Management (UK) Limited has been involved in the management of client funds since 1973 and is wholly owned by the HSBC Group. As at end December 2014, HSBC Global Asset Management (UK) Limited had USD billion worth of assets under management. The regulatory authority is Financial Conduct Authority. (vi) HSBC Global Asset Management (France) 2.6 Key Portfolio Managers HSBC Global Asset Management (France) was established in France in 1999 to manage discretionary funds and collective investment schemes. As at end December 2014, HSBC Global Asset Management (France) had USD billion worth of assets under management. The regulatory authority is Autorité des marchés financiers (France). Guillaume Rabault Strategy CIO, Multi-Asset Guillaume Rabault is Chief Investment Officer, HSBC Global Asset Management (France) and also Global Chief Investment Officer of Multi Asset, HSBC Global Asset Management. Guillaume has been working in the industry since Prior to joining HBSC Group in 2000, Guillaume worked for the French Ministry of Finance for nine years as an economist, researcher and head of the French National Quarterly Account. Guillaume holds a Master's degree from the engineering school Polytechnique (France), a Master's degree in Economics and Statistics from the business school ENSAE (France), and a Master's degree (DEA) in Economics and Politics from Ecole Normale Supérieure (France). Bill Maldonado Strategy CIO, Equity Bill Maldonado is Chief Investment Officer, Equities for HSBC Global Asset Management and Regional CIO for Asia Pacific. He has been working in the industry since 1993, when he joined HSBC. He holds an Honours degree in Physics from Sussex University (UK) and Uppsala University in Sweden, a Doctorate in Laser Physics from Oxford University (UK) and an MBA from the Cranfield School of Management (UK). 18

20 Chris Cheetham Global CIO Chris Cheetham is Global Chief Investment Officer of HSBC Global Asset Management and has been working in the industry since Prior to joining HSBC in 2003, Chris was Global Chief Investment Officer of AXA Investment Managers and also held the position of CEO AXA Sun Life Asset Management. Chris began his career with Prudential Portfolio Managers (now M&G), where he worked in a variety of investment management roles, ultimately as Director of Investment Strategy and Research. He holds a First Class honours degree (BSc) in Economics from Hull University (UK) and a Masters in International Economics from Warwick University (UK). Xavier Baraton Strategy CIO, Fixed Income Xavier Baraton is Global CIO for fixed income and Regional CIO for North America at HSBC Global Asset Management and has been working in the industry since Xavier joined HSBC in September 2002 to head the Paris-based credit research team and became Global Head of Credit Research in January 2004 and Head of the European Credit Bond in Prior to joining HSBC, Xavier worked for Credit Agricole Indosuez, including five years as Head of Credit Research. Xavier graduated from the "Ecole Centrale de Paris" as an engineer with a degree in Economics and Finance in 1993 and was awarded a postgraduate degree in Money, Finance and Banking from the Sorbonne University in Denis Gould Chief Investment Officer, Hong Kong Multi Asset & Wealth Denis Gould is the Chief Investment Officer in the Hong Kong Multi Asset and Wealth team and has been working in the industry since In his current role, he is responsible for the investment of multi asset portfolios for a range of clients, and has implemented a long term, valuation based approach to asset allocation which utilizes the substantial global research resources devoted to multi asset investing in HSBC. Prior to joining HSBC in 2011, Denis worked as a Director of Investment at AXA Investment Managers in Hong Kong, responsible for the fixed income and investment solutions businesses in Asian and Japan. Before that, he was the Head of Fixed Income for UK and Asia, based in London. He holds a B.Sc. (Hons) in Economics from Loughborough University of Technology. 2.7 The Singapore Representative HSBC Global Asset Management (Singapore) Limited has been appointed by the Company as the representative for the Sub-Funds in Singapore (the Singapore Representative ) to provide and maintain certain administrative and other facilities in respect of the Sub-Funds The Singapore Representative shall carry out or procure the carrying out of the following functions: (i) facilitate the issue, switching and redemption of the Shares, in particular: (a) (b) receive on behalf of the Company by the official cut-off time as disclosed in this Singapore Prospectus and send upon receipt, within the soft cut-off time agreed with the Company, applications for the issue of Shares and requests for the switching or redemption of Shares; and receive on behalf of the Company by the official cut-off time as disclosed in this Singapore Prospectus and remit, within the soft cut-off time agreed with the Company, in such manner as the Company may direct in writing, subscription monies in respect of applications for the issue of Shares, and issue to applicants receipts in respect of such monies; (ii) publish and provide information orally or in writing to Shareholders on the most recent 19

21 published Offer Prices and Redemption Prices of Shares; (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) (xii) facilitate the sending of reports of the Company to the Shareholders; facilitate the furnishing of such books relating to the issue and redemption of Shares as the Authority may require at any time subject to compliance with applicable Luxembourg laws and regulations including banking secrecy laws and anti-money laundering and prevention of terrorism financing laws; facilitate the inspection of instruments constituting the Company; maintain on behalf of the Company for inspection in Singapore (a) a subsidiary register of Shareholders who subscribed for Shares of each Sub-Fund in Singapore or (b) any facility that enables the inspection or extraction of the equivalent information; procure through the appointed agent of the Company s Registrar and Transfer Agent, the payment of amounts due from the Company to Shareholders in respect of the proceeds of the redemption of Shares or any liquidation proceeds; give notice to the Authority (within 14 days) of any change in the contact particulars or registered office of the Singapore Representative, the agent appointed to accept service of process and such other information as the Authority may prescribe; furnish such information or record regarding the Sub-Funds and/or the Company as the Authority may, at any time, require for the proper administration of the Securities and Futures Act (Cap. 289) (the SFA ) to the extent this communication of information is not contrary to / prohibited by the Luxembourg laws and regulations including banking secrecy laws; make available at the Singapore Representative s office for public inspection free of charge, and offer copies free of charge to Shareholders and/or applicants, of the articles of incorporation of the Company, the latest audited annual report and semiannual report of the Company and such other documents required under the SFA and the Code on Collective Investment Schemes issued by the Authority (the Code ); make available at the Singapore Representative s office free of charge, details or copies of any notices, advertisements, circulars to Shareholders and other documents of a similar nature which have been given or sent to Shareholders; arrange, as from time to time required by the Company, for the publication of notices, advertisements, circulars to Shareholders and other documents of that nature in relation to the Company, or summary of any such documents, in a major newspaper in Singapore, which documents may relate, inter alia, to: (a) (b) (c) (d) (e) (f) the publication of annual and semi-annual reports of the Company, as the case may be; the publication of any updated or revised Singapore Prospectus and any amendments to the Singapore Prospectus; any amendment to the articles of incorporation of the Company; the calling of any meetings of Shareholders; the declaration of dividends of each Sub-Fund or the Company; and any revocation of the recognition of the Sub-Funds as recognised schemes under Section 287 of the SFA by the Authority; 20