HSBC Asian High Yield Bond Fund

Important information: HSBC Asian High Yield Bond Fund (the Fund ) invests primarily in a broad range of higher yielding Asian fixed income securities and instruments. Investments of the Fund may include both investment grade and non-investment grade bonds in Asia. The Fund is subject to the risks of investing in emerging markets. High yield bonds, non-investment grade bonds and unrated bonds are subject to higher risk than investment grade bonds. For certain classes of the Fund, the Fund may pay dividends out of capital or pay dividends gross of expenses. Investors should note that the payment of dividends out of capital or effectively out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Such distributions may result in an immediate decrease in the net asset value of the Fund. The Fund may invest in derivative instruments such as futures, options and warrants which may involve higher risk. The Fund s investments may involve substantial credit/counterparty, downgrading, market, currency, volatility, liquidity, regulatory and political risks. Investors may suffer substantial loss of their investments in the Fund. Unit trusts are NOT equivalent to time deposits. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund for details. This document does not constitute an offering document. HSBC Asian High Yield Bond Fund May 2016 Fund objective and strategy The Fund aims to achieve higher level of income and capital appreciation through investing primarily in a diversified portfolio of higher yielding fixed income securities including investment grade, noninvestment grade and unrated bonds that are primarily denominated in USD, traded or issued by issuers in the Asian markets. The Fund will normally invest in a broad range of fixed income securities and instruments including government bonds, corporate bonds, convertible bonds and monetary instruments. In order to achieve its investment objective, the Fund will invest in high-yield securities including, but not limited to, investment grade and non-investment grade bonds and other similar securities (rated and unrated). The Fund may also invest in financial derivative instruments for investment and hedging purposes. Financial derivative instruments which may be used for investment purposes are futures, options and warrants. The Fund may also hold cash on deposit pending reinvestment. Product features The Fund aims to offer diverse array of growth opportunities: corporate, sovereign, quasi-sovereign, local currency denominated, convertible and unrated bonds The holdings are mainly denominated in USD and high yield bonds. The Fund has a flexible strategy and may take positions in local currencies and investment grade bonds Price Indexed Performance (%) YTD 3 mths 6 mths 1 yr 3 yrs 5 yrs Since Inception Fund () # 5.9 5.9 5.0 5.1 10.6 33.4 135 35 130 30 125 25 120 20 115 15 110 10 105 5 100 0 95-5 90-10 JunSep 12 MarJunSep 13 MarJunSep 14 MarJunSep 15 MarJunSep 16 Apr HSBC Asian High Yied Bond Fund (Class AM) Source: Morningstar, Inc. as at 30 April 2016. Bid to Bid price with dividend reinvested, in US Dollar. Portfolio composition Percent Change Calendar year performance (Class AM) % Since launch to 30/12/11-0.7 2012 18.7 2013-0.1 2014 5.3 2015 1.7 Country allocation % Sector allocation % China/Hong Kong 40.9 Property 28.1 Indonesia 26.4 Sovereign 15.5 India 11.7 Industrial 15.0 Philippines 6.6 Quasi-sovereign 9.1 Sri Lanka 4.7 Cyclical 8.2 Singapore 1.8 Oil & gas 6.2 Vietnam 1.1 Technology 2.9 Cash 3.9 Bank 2.5 Others 3.0 Energy 2.3 Percentage may not total 100 due to rounding. Cash & others 10.0 Fund details Launch date Fund size Base currency Bid price Fund manager 20 May 2011 20 May 2011 20 May 2011 20 May 2011 3 April 2014 3 April 2014 USD703.14 million USD USD13.344 HKD13.324 USD9.938 HKD9.919 AUD9.656 EUR9.569 Cecilia Chan / Alfred Mui Investment adviser HSBC Global Asset Management (Hong Kong) Limited Minimum investment USD1,000 / HKD10,000 AUD1,500 / EUR850 Initial charge Management fee 5.25% of the initial offer price 1.25% per annum Switching charge 1% Dealing ISIN code Bloomberg ticker Financial Y/E Daily KYG4642D1833 KYG4642D2096 KYG4642D1916 KYG4642D2179 KYG4642D3326 KYG4642D3409 HAHYACU KY HAHYACH KY HAHYAMU KY HAHYAMH KY HSBCAMA KY HSBCAME KY 31 July Please refer to the offering document for details of other fees. Source: HSBC Investment Funds (Hong Kong) Limited as at 30 April 2016. Morningstar, Inc. All Rights Reserved. Morningstar Rating TM as of 30 April 2016. # The performance and dividend yield of a Class may be affected by many factors such as, where applicable, exchange rate fluctuation, currency hedging costs and interest rate differentiation between different currencies. Therefore, different Classes may have different performance and dividend yield, and the performance and dividend yield of a Class cannot be used to represent the performance and dividend yield of another Class. Unless otherwise agreed by the HSBC Investment Funds (Hong Kong) Limited, shares being subscribed in one Dealing Currency cannot be changed into another Dealing Currency of the same class at the investor s request. Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. The document has not been reviewed by the Securities and Futures Commission.

Top 10 holdings % Philippines Republic 6.375% 23/10/34 Philippines 2.1 Majapahit Holding 7.875% 29/06/37 Indonesia 1.8 Indonesia Republic 4.875% 05/05/21 Indonesia 1.7 Abja Investment Co 5.95% 31/07/24 India 1.5 Shui On Development 10.125% 10/12/17 China 1.5 Greenko Dutch Bv 8% 01/08/19 India 1.5 National Savings Bank 8.875% 18/09/18 Sri Lanka 1.5 Indonesia (Rep of) 6.75% 15/01/44 Indonesia 1.4 Pertamina PT 6% 03/05/42 Indonesia 1.4 Indonesia (Rep of) 5.25% 17/01/42 Indonesia 1.4 Dividend policy No distribution No distribution Monthly, if any Monthly, if any Monthly, if any Monthly, if any Portfolio characteristics Annualised volatility (3-year) 5.74% Sharpe ratio (3-year) 0.56 Dividend history of # Month Dividend amount NAV as of ex-dividend date Annualised yield May - 15 USD0.0515 USD10.002 6.18% Jun - 15 USD0.0509 USD9.910 6.16% Jul - 15 USD0.0500 USD9.887 6.07% Aug - 15 USD0.0487 USD9.607 6.08% Sep - 15 USD0.0499 USD9.472 6.32% Oct - 15 USD0.0494 USD9.762 6.07% Nov - 15 USD0.0489 USD9.685 6.06% Dec - 15 USD0.0503 USD9.576 6.30% Jan - 16 USD0.0525 USD9.524 6.61% Feb - 16 USD0.0524 USD9.545 6.59% Mar - 16 USD0.0490 USD9.806 6.00% Apr - 16 USD0.0434 USD9.938 5.24% Dividend is not guaranteed and will result in reduction in net asset value. A positive distribution yield does not imply a positive return. The calculation method of annualised yield: (dividend value / bid price as of ex-dividend date) x 12. The annualised dividend yield is calculated based on the dividend distribution on the relevant date with dividend reinvested, and may be higher or lower than the actual annual dividend yield. HSBC fund code u62447 u62448 u62588 u62590 # The performance and dividend yield of a Class may be affected by many factors such as, where applicable, exchange rate fluctuation, currency hedging costs and interest rate differentiation between different currencies. Therefore, different Classes may have different performance and dividend yield, and the performance and dividend yield of a Class cannot be used to represent the performance and dividend yield of another Class. Dividend of the Fund is not guaranteed and is subject to the Fund manager s discretion. Investment involves risk. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. The document has not been reviewed by the Securities and Futures Commission.

Important information: HSBC Asian High Yield Bond Fund (the Fund ) invests primarily in a broad range of higher yielding Asian fixed income securities and instruments. Investments of the Fund may include both investment grade and non-investment grade bonds in Asia. The Fund is subject to the risks of investing in emerging markets. High yield bonds, non-investment grade bonds and unrated bonds are subject to higher risk than investment grade bonds. For certain classes of the Fund, the Fund may pay dividends out of capital or pay dividends gross of expenses. Investors should note that the payment of dividends out of capital or effectively out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Such distributions may result in an immediate decrease in the net asset value of the Fund. The Fund may invest in derivative instruments such as futures, options and warrants which may involve higher risk. The Fund s investments may involve substantial credit/counterparty, downgrading, market, currency, volatility, liquidity, regulatory and political risks. Investors may suffer substantial loss of their investments in the Fund. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund for details. This document does not constitute an offering document. HSBC Asian High Yield Bond Fund Dividend history Class AM USD (ISIN Code: KYG4642D1916) Month Ex-dividend Date Dividend Amount* NAV as of ex-dividend date Annualised Yield Class AM HKD (ISIN Code: KYG4642D2179) Month Ex-dividend Date Dividend Amount* NAV as of ex-dividend date Annualised Yield Apr-16 29-Apr-16 USD 0.0434 USD 9.938 5.24% Apr-16 29-Apr-16 HKD 0.0433 HKD 9.919 5.24% Mar-16 31-Mar-16 USD 0.0490 USD 9.806 6.00% Mar-16 31-Mar-16 HKD 0.0489 HKD 9.783 6.00% Feb-16 29-Feb-16 USD 0.0524 USD 9.545 6.59% Feb-16 29-Feb-16 HKD 0.0524 HKD 9.549 6.58% Jan-16 29-Jan-16 USD 0.0525 USD 9.524 6.61% Jan-16 29-Jan-16 HKD 0.0526 HKD 9.544 6.61% Dec-15 31-Dec-15 USD 0.0503 USD 9.576 6.30% Dec-15 31-Dec-15 HKD 0.0502 HKD 9.548 6.31% Nov-15 30-Nov-15 USD 0.0489 USD 9.685 6.06% Nov-15 30-Nov-15 HKD 0.0488 HKD 9.656 6.06% Oct-15 30-Oct-15 USD 0.0494 USD 9.762 6.07% Oct-15 30-Oct-15 HKD 0.0493 HKD 9.733 6.08% Sep-15 30-Sep-15 USD 0.0499 USD 9.472 6.32% Sep-15 30-Sep-15 HKD 0.0497 HKD 9.445 6.31% Aug-15 31-Aug-15 USD 0.0487 USD 9.607 6.08% Aug-15 31-Aug-15 HKD 0.0486 HKD 9.580 6.09% Jul-15 31-Jul-15 USD 0.0500 USD 9.887 6.07% Jul-15 31-Jul-15 HKD 0.0499 HKD 9.861 6.07% Jun-15 30-Jun-15 USD 0.0509 USD 9.910 6.16% Jun-15 30-Jun-15 HKD 0.0507 HKD 9.884 6.16% May-15 29-May-15 USD 0.0515 USD 10.002 6.18% May-15 29-May-15 HKD 0.0514 HKD 9.976 6.18% Apr-15 30-Apr-15 USD 0.0516 USD 10.056 6.16% Apr-15 30-Apr-15 HKD 0.0515 HKD 10.027 6.16% Mar-15 31-Mar-15 USD 0.0542 USD 10.000 6.50% Mar-15 31-Mar-15 HKD 0.0541 HKD 9.976 6.51% Feb-15 27-Feb-15 USD 0.0551 USD 10.061 6.57% Feb-15 27-Feb-15 HKD 0.0550 HKD 10.039 6.57% Jan-15 30-Jan-15 USD 0.0568 USD 9.992 6.82% Jan-15 30-Jan-15 HKD 0.0567 HKD 9.965 6.83% Dec-14 31-Dec-14 USD 0.0506 USD 10.024 6.06% Dec-14 31-Dec-14 HKD 0.0505 HKD 10.002 6.06% Nov-14 28-Nov-14 USD 0.0520 USD 10.338 6.07% Nov-14 28-Nov-14 HKD 0.0522 HKD 10.311 6.08% Oct-14 31-Oct-14 USD 0.0534 USD 10.403 6.16% Oct-14 31-Oct-14 HKD 0.0533 HKD 10.380 6.16% Sep-14 30-Sep-14 USD 0.0483 USD 10.358 5.60% Sep-14 30-Sep-14 HKD 0.0482 HKD 10.347 5.59% Aug-14 29-Aug-14 USD 0.0492 USD 10.583 5.58% Aug-14 29-Aug-14 HKD 0.0490 HKD 10.552 5.57% Jul-14 31-Jul-14 USD 0.0511 USD 10.526 5.83% Jul-14 31-Jul-14 HKD 0.0510 HKD 10.496 5.83% Jun-14 30-Jun-14 USD 0.0506 USD 10.430 5.82% Jun-14 30-Jun-14 HKD 0.0504 HKD 10.400 5.82% May-14 28-May-14 USD 0.0529 USD 10.413 6.10% May-14 28-May-14 HKD 0.0528 HKD 10.387 6.10% *Dividend amount is rounded up to four decimal places. Dividend is not guaranteed and will result in reduction in net asset value. A positive distribution yield does not imply a positive return. The calculation method of annualized yield: (dividend value / bid price as of ex-dividend date) x 12. Investment involves risks. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. The document has not been reviewed by the Securities and Futures Commission.

Important information: HSBC Asian High Yield Bond Fund (the Fund ) invests primarily in a broad range of higher yielding Asian fixed income securities and instruments. Investments of the Fund may include both investment grade and non-investment grade bonds in Asia. The Fund is subject to the risks of investing in emerging markets. High yield bonds, non-investment grade bonds and unrated bonds are subject to higher risk than investment grade bonds. For certain classes of the Fund, the Fund may pay dividends out of capital or pay dividends gross of expenses. Investors should note that the payment of dividends out of capital or effectively out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Such distributions may result in an immediate decrease in the net asset value of the Fund. The Fund may invest in derivative instruments such as futures, options and warrants which may involve higher risk. The Fund s investments may involve substantial credit/counterparty, downgrading, market, currency, volatility, liquidity, regulatory and political risks. Investors may suffer substantial loss of their investments in the Fund. Investors should not invest in the Fund solely based on the information provided in this document and should read the offering document of the Fund for details. This document does not constitute an offering document. HSBC Asian High Yield Bond Fund Dividend history Class AMH AUD (ISIN Code: KYG4642D3326) Class AMH EUR (ISIN Code: KYG4642D3409) Month Ex-dividend Date Dividend Amount* NAV as of ex-dividend date Annualised Yield Month Ex-dividend Date Dividend Amount* NAV as of ex-dividend date Annualised Yield Apr-16 29-Apr-16 AUD 0.0533 AUD 9.656 6.62% Apr-16 29-Apr-16 EUR 0.0359 EUR 9.569 4.50% Mar-16 31-Mar-16 AUD 0.0585 AUD 9.523 7.37% Mar-16 31-Mar-16 EUR 0.0415 EUR 9.447 5.27% Feb-16 29-Feb-16 AUD 0.0615 AUD 9.263 7.97% Feb-16 29-Feb-16 EUR 0.0467 EUR 9.209 6.09% Jan-16 29-Jan-16 AUD 0.0617 AUD 9.243 8.01% Jan-16 29-Jan-16 EUR 0.0462 EUR 9.193 6.03% Dec-15 31-Dec-15 AUD 0.0611 AUD 9.284 7.90% Dec-15 31-Dec-15 EUR 0.0473 EUR 9.248 6.14% Nov-15 30-Nov-15 AUD 0.0602 AUD 9.389 7.69% Nov-15 30-Nov-15 EUR 0.0457 EUR 9.366 5.86% Oct-15 30-Oct-15 AUD 0.0609 AUD 9.464 7.72% Oct-15 30-Oct-15 EUR 0.0457 EUR 9.435 5.81% Sep-15 30-Sep-15 AUD 0.0608 AUD 9.187 7.94% Sep-15 30-Sep-15 EUR 0.0460 EUR 9.159 6.03% Aug-15 31-Aug-15 AUD 0.0602 AUD 9.318 7.75% Aug-15 31-Aug-15 EUR 0.0453 EUR 9.321 5.83% Jul-15 31-Jul-15 AUD 0.0620 AUD 9.590 7.76% Jul-15 31-Jul-15 EUR 0.0464 EUR 9.586 5.81% Jun-15 30-Jun-15 AUD 0.0627 AUD 9.608 7.83% Jun-15 30-Jun-15 EUR 0.0474 EUR 9.621 5.91% May-15 29-May-15 AUD 0.0649 AUD 9.702 8.03% May-15 29-May-15 EUR 0.0484 EUR 9.712 5.98% Apr-15 30-Apr-15 AUD 0.0652 AUD 9.759 8.02% Apr-15 30-Apr-15 EUR 0.0484 EUR 9.773 5.94% Mar-15 31-Mar-15 AUD 0.0680 AUD 9.694 8.42% Mar-15 31-Mar-15 EUR 0.0513 EUR 9.723 6.33% Feb-15 27-Feb-15 AUD 0.0711 AUD 9.750 8.75% Feb-15 27-Feb-15 EUR 0.0528 EUR 9.789 6.47% Jan-15 30-Jan-15 AUD 0.0733 AUD 9.688 9.08% Jan-15 30-Jan-15 EUR 0.0544 EUR 9.722 6.71% Dec-14 31-Dec-14 AUD 0.0675 AUD 9.712 8.34% Dec-14 31-Dec-14 EUR 0.0487 EUR 9.753 5.99% Nov-14 28-Nov-14 AUD 0.0695 AUD 10.020 8.32% Nov-14 28-Nov-14 EUR 0.0500 EUR 10.083 5.95% Oct-14 31-Oct-14 AUD 0.0706 AUD 10.080 8.40% Oct-14 31-Oct-14 EUR 0.0515 EUR 10.159 6.08% Sep-14 30-Sep-14 AUD 0.0656 AUD 10.045 7.84% Sep-14 30-Sep-14 EUR 0.0478 EUR 10.116 5.67% Aug-14 29-Aug-14 AUD 0.0671 AUD 10.266 7.84% Aug-14 29-Aug-14 EUR 0.0481 EUR 10.337 5.58% Jul-14 31-Jul-14 AUD 0.0691 AUD 10.212 8.12% Jul-14 31-Jul-14 EUR 0.0509 EUR 10.280 5.94% Jun-14 30-Jun-14 AUD 0.0682 AUD 10.110 8.09% Jun-14 30-Jun-14 EUR 0.0530 EUR 10.183 6.25% May-14 28-May-14 AUD 0.0704 AUD 10.097 8.37% May-14 28-May-14 EUR 0.0534 EUR 10.177 6.30% *Dividend amount is rounded up to four decimal places. Dividend is not guaranteed and will result in reduction in net asset value. A positive distribution yield does not imply a positive return. The calculation method of annualized yield: (dividend value / bid price as of ex-dividend date) x 12. Investment involves risks. Past performance is not indicative of future performance. Please refer to the offering document for further details including the risk factors. The document has not been reviewed by the Securities and Futures Commission.

PRODUCT KEY FACTS HSBC Asian High Yield Bond Fund April 2016 2016 4 u This statement provides you with key information about the HSBC Asian High Yield Bond Fund u This statement is part of the offering document u You should not invest in this product based on this statement alone Quick facts Fund manager HSBC Investment Funds (Hong Kong) Limited / Investment adviser HSBC Global Asset Management (Hong Kong) Limited (Internal delegation) / Trustee HSBC Trustee (Cayman) Limited Dealing frequency Daily on every dealing day / Base currency USD / Ongoing charges over a year^ Class AC USD/ AC 1.41% ^ Class AC HKD / AC 1.41% Class AM USD / AM 1.41% Class AM HKD / AM 1.41% Class AMH AUD / AMH 1.44% Class AMH EUR / AMH 1.54% Class AMH GBP / AMH 1.49%^^ Class AMH CAD / AMH 1.49%^^ Dividend policy Class AC USD / AC HKD No dividend will be declared and paid. Class AM USD / AM HKD / AMH AUD / AMH EUR / AMH GBP / AMH CAD Declared monthly on a discretionary basis, and if declared, dividends will be paid monthly. Dividends may be paid out of the capital of the relevant class and may lead to capital erosion. / AC / AC AM / AM / AMH / AMH / AMH / AMH Financial year end 31 July / 7 31 Minimum investment Class AC USD and Class AM USD US$1,000 Class AC HKD and Class AM HKD HK$10,000 Class AMH AUD AUD1,500 Class AMH EUR EUR850 Class AMH GBP GBP650 Class AMH CAD CAD1,000 / AC AM 1,000 AC AM 10,000 AMH 1,500 AMH 850 AMH 650 AMH 1,000 ^ Unless otherwise specified, the figure is based on ongoing expenses chargeable to the class expressed as a percentage of the class s average net asset value for the year ended 31 July 2015. This figure may vary from year to year. 2015 7 31 ^^ The figure is an estimate only (as the class has not been launched) and represents the sum of the estimated ongoing expenses chargeable to the class expressed as a percentage of the class's estimated average net asset value. This figure may vary from year to year. The actual figure may be different from the estimated figure.

What is this product? This is a sub-fund (the Fund ) of an umbrella fund, HSBC Investment Funds Trust, constituted in the form of a unit trust. Objectives and Investment Strategy Objective The Fund aims to achieve a higher level of income and capital appreciation through investing primarily in a diversified portfolio of higher yielding fixed income securities including investment grade, non-investment grade and unrated bonds that are primarily denominated in USD, traded or issued by issuers in the Asian markets. Strategy The Fund will normally invest in a broad range of fixed income securities and instruments including government bonds, corporate bonds, convertible bonds and monetary instruments. In order to achieve its investment objective, the Fund will invest in high-yield securities including, but not limited to, investment grade and noninvestment grade bonds and other similar securities (rated and unrated). The Fund may also invest in financial derivative instruments for investment and hedging purposes. Financial derivative instruments which may be used for investment purposes are futures, options and warrants. The Fund may also hold cash on deposit pending reinvestment. What are the Key Risks?? Investments involve risks. Please refer to the offering document for details including the risk factors. Investment risk u The Fund is an investment fund. There is no guarantee of the repayment of principal. u The Fund s investment portfolio may fall in value and therefore your investment in the Fund may suffer losses. Emerging markets risk u Many of the Asian markets are emerging markets, including but not limited to Indonesia, China, India and Philippines. Investing in emerging markets involves a greater risk of loss than investing in more developed markets due to, among other factors, greater political, tax, economic, foreign exchange, liquidity, market volatility (such as interest rate and price volatility) and regulatory risks. Interest rate risk u The Fund s investments in fixed income instruments may fall in value if interest rates change. Generally, the price of fixed income instruments decreases when interest rates rise, whilst their prices increase when interest rates fall. Credit risk u The Fund s exposure to bonds is subject to the credit risk of the issuers of the bonds. When the issuer of a bond defaults, the Fund may suffer a loss amounting to the value of such investment. u Investments of the Fund may include both investment grade and non-investment grade bonds. Non-investment grade bonds are subject to higher credit risk than investment grade bonds. Downgrading of a bond will also increase the credit risk of a bond.

Liquidity risk u The market for non-investment grade and unrated securities may be less active. A lowering of the credit rating of a security or its issuer may affect the security s liquidity, making it more difficult for the Fund to sell such security. Investment of the Fund s assets in relatively illiquid investments may restrict the ability of the Fund to dispose of its investments at a price and time that it wishes to do so. This may result in a loss to the Fund. Non-investment grade and unrated bond risk u The Fund may invest in fixed income securities that are rated below investment grade or unrated. Credit risk may be greater for investments in such securities as they may be subject to a higher risk of default. u Investment grade bonds may be subject to the risk of being downgraded to non-investment grade bonds. In the event of downgrading, the Fund s investment value in the relevant security may be adversely affected. Derivatives risk u Financial derivative instruments may be leveraged and their prices can be very volatile. Investment in these instruments may result in losses in excess of the original amount invested. u Financial derivative instruments are subject to the risk of non-performance by the counterparty. If the counterparty defaults in performing its obligations, the Fund may suffer substantial losses. Early termination risk u The Fund may be liquidated on the occurrence of certain events specified in the offering document. Upon liquidation, all the assets of the Fund will be realized and the net proceeds thereof which are available for distribution will be distributed to its holders in proportion to their holdings. Investors should note that the amount distributed to them may be less than the amount of their initial investment. Risks associated with distribution out of capital u Distribution may be paid from income and / or capital as determined by the Manager. If there is a change to this policy, prior approval will be sought from the SFC and affected investors will receive at least one month s prior written notification. u Investors should note that the payment of dividends out of capital represents a return or withdrawal of part of the amount they originally invested or from any capital gains attributable to the original investment. Such distributions may result in an immediate decrease in the net asset value of relevant units of the Fund.

How has the fund performed? HSBC Investment Funds Trust - HSBC Asian High Yield Bond Fund (AM-USD) 20.0 18.7 15.0 10.0 % 5.0 5.2 1.7 0.0-0.1-5.0 2011 2012 2013 2014 2015 AM u Past performance information is not indicative of future performance. Investors may not get back the full amount invested. u The computation basis of the performance is based on the calendar year end, NAV -to-nav, with dividend reinvested. u These figures show by how much the unit class increased or decreased in value during the calendar year being shown. Performance data has been calculated in USD including ongoing charges and excluding subscription fee and redemption fee you might have to pay. u Where no past performance is shown there was insufficient data available in that year to provide performance. u Fund launch date: 20/05/2011 20/05/2011 u Class AM USD launch date: 20/05/2011 AM 20/05/2011 u Class AM USD is a unit open for investment by Hong Kong retail investors and denominated in the Fund s base currency. 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? u Charges which may be payable by you You may have to pay the following fees when dealing in the Fund. Fees Subscription fee Switching fee Redemption fee What you pay Up to 5.25% of the offer price* # 5.25%* # Up to 1% of the offer price* # 1%* # Nil* * u 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. Fees Management fee 1.25% # Trustee fee Administration fee Performance fee Annual rate (as a % of the Net Asset Value of the Fund) % 0.11% to 0.135% subject to a minimum of USD52,000 for the first 12 months and thereafter USD72,000 per annum # # 0.11% 0.135% Not applicable Not applicable u Other fees You may have to pay other fees and charges when dealing in the Fund. * You may need to bear additional costs under certain situations in order to mitigate any adverse impacts to the Fund caused by the transactions. Please refer to the offering document for detail. # The fees and charges may be increased up to maximum level as specified in the offering document by giving at least one month s prior notice to investor. 1 Additional information u You generally buy and redeem units at the Fund s next-determined subscription price and redemption price with reference to the Net Asset Value (NAV) after the intermediaries receive your request in good order on or before 4:00 pm (HK Time), being the dealing cut-off time. 4 u Intermediaries who sell the Fund may impose earlier cut-off times for receiving instructions for subscriptions, redemptions or switching. Investors should pay attention to the arrangements of the intermediary concerned. u Investors may obtain the past performance information of other unit classes offered to Hong Kong investors at (the website has not been reviewed by the SFC). u Investors may obtain information on the intermediaries online at (the website has not been reviewed by the SFC). u The net asset value of the Fund is calculated and the price of the Fund published on each dealing day. The Fund prices are available online at u The composition of the latest dividends (i.e. the relative amounts paid out of (i) net distributable income and (ii) capital) (if any) for the last 12 months is available from the Manager on request and on the website 12 (i) (ii) Important u u 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.