HSBC Global Investment Funds CHINESE EQUITY Monthly Report 31 August 2021 | Share Class IC
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HSBC Global Investment Funds CHINESE EQUITY Monthly report 31 August 2021 | Share class IC Share Class Details Investment objective Key metrics The Fund aims to provide long term capital growth by investing in a portfolio of Chinese shares. NAV per Share USD 163.81 Performance 1 month -0.91% Investment strategy Volatility 3 years 21.14% Fund facts In normal market conditions, the Fund will invest at least 90% of its assets in shares (or securities UCITS V compliant Yes similar to shares) of companies of any size that are based in, or carry out the larger part of their business activities in, China, including Hong Kong SAR. The Fund can invest up to 70% in China Dividend treatment Accumulating A and China B-shares. For China A-shares, up to 70% through the Shanghai-Hong Kong Stock Dealing frequency Daily Connect and/or the Shenzhen-Hong Kong Stock Connect, and up to 50% in CAAPs. The Fund Valuation Time 17:00 Luxembourg may invest up to 10% of its assets in other funds, including HSBC funds. The Fund will not invest more than 10% of its assets in Real Estate Investment Trusts. See the Prospectus for a full Share Class Base Currency USD description of the investment objectives and derivative usage. Domicile Luxembourg Inception date 27 July 2005 Main risks Fund Size USD 1,139,298,382 Reference 100% MSCI China 10/40 • The Fund's unit value can go up as well as down, and any capital invested in the Fund may benchmark Net be at risk. • The value of investible securities can change over time due to a wide variety of factors, Managers Caroline Yu Maurer including but not limited to: political and economic news, government policy, changes in Fees and expenses demographics, cultures and populations, natural or human-caused disasters etc. Minimum Initial USD 1,000,000 • The Fund may invest in Emerging Markets, these markets are less established, and often Investment more volatile, than developed markets and involve higher risks, particularly market, liquidity Ongoing Charge Figure¹ 1.047% and currency risks. Management fee 0.750% Codes Performance Fund Reference benchmark ISIN LU0164867441 220 Bloomberg ticker HSBCHIC LX 200 ¹Ongoing Charges Figure, is based on expenses 180 over a year. The figure includes annual 160 management charge but not the transaction costs. Such figures may vary from time to time. 140 120 100 on starting date 100 Return index rebased to 80 08/16 08/17 08/18 08/19 08/20 08/21 Past performance is not an indicator of future returns. The figures are calculated in the share class base currency, dividend reinvested, net of fees. Source: HSBC Asset Management, data as at 31 August 2021 HSBC Global Investment Funds CHINESE EQUITY Monthly report 31 August 2021 | Share class IC Performance (%) YTD 1 month 3 months 6 months 1 year 3 years ann 5 years ann IC -14.47 -0.91 -13.20 -18.13 -0.78 10.19 11.18 Reference benchmark -10.94 0.77 -12.56 -15.72 0.15 7.91 10.65 31/08/2020- 31/08/2019- 31/08/2018- 31/08/2017- 31/08/2016- Rolling Performance (%) 31/08/2021 31/08/2020 31/08/2019 31/08/2018 31/08/2017 IC -0.78 36.15 -0.97 -3.90 32.16 Reference benchmark 0.15 32.76 -5.49 -0.20 32.26 Reference Reference Characteristics Fund benchmark 3-Year Risk Measures IC benchmark No. of holdings ex cash 62 743 Volatility 21.14% 20.61% Average Market Cap (USD) 138,838,900,000 133,966,300,000 Information ratio 0.42 -- Beta 0.99 -- Sector Allocation (%) Consumer Discretionary 22.31 31.86 Information Technology 14.40 7.90 Communication Services 12.29 14.52 Financials 12.13 14.51 Health Care 7.01 8.31 Utilities 6.56 2.55 Consumer Staples 5.27 5.11 Real Estate 4.49 4.56 Industrials 4.30 5.47 Energy 4.09 1.57 Materials 0.70 3.65 6.44 Cash & Others 0.00 Fund Reference benchmark Past performance is not an indicator of future returns. The figures are calculated in the share class base currency, dividend reinvested, net of fees. Source: HSBC Asset Management, data as at 31 August 2021 HSBC Global Investment Funds CHINESE EQUITY Monthly report 31 August 2021 | Share class IC Top 10 Holdings Sector Weight (%) Tencent Holdings Ltd Communication Services 6.76 Alibaba Group Holding Ltd Consumer Discretionary 6.31 China Construction Bank-H Financials 5.27 Wuxi Biologics Cayman Inc Health Care 3.72 Taiwan Semiconductor Co Ltd Information Technology 3.08 Luxshare Precision Industr-A Information Technology 3.00 Meituan-Class B Consumer Discretionary 2.97 SINOPEC CORP Energy 2.89 Yum China Holdings Inc Consumer Discretionary 2.87 China Mengniu Dairy Co Ltd Consumer Staples 2.78 Source: HSBC Asset Management, data as at 31 August 2021 HSBC Global Investment Funds CHINESE EQUITY Monthly report 31 August 2021 | Share class IC Monthly performance commentary Stock selection was negative for the month. Positive performance came from Utilities and Health Care, though this was offset by negative stock selection in Industrials and Communication Services. Utilities security, China Resources Power with total effect 0.36% is the top contributor. Additionally, Utilities security, Kunlun Energy was the second largest contributor with total effect 0.35%. Consumer Discretionary security, Li Ning also contributed with total effect 0.30%. On the other side, detractors include Communication Services security China Telecom with total effect -0.33%, Information Technology holding Luxshare Precision Industry with total effect- 0.29%, and Communication Services holding NetEase with total effect- 0.29%. During this period, positions were initiated in China Resources Power, Link REIT, Nongfu Spring, BYD, and LONGi Green Energy Technology. Positions were closed in Pinduoduo, Jiangsu Hengrui Medicine, Air China and Kuaishou Technology. Sector allocation effects are residual to stock selection. At the sector level, effects were negative, given an underweight exposure to Materials. The stocks mentioned are for illustrative purposes only and are not investment advice, investments have risks. Source: HSBC Asset Management, data as at 31 August 2021 HSBC Global Investment Funds CHINESE EQUITY Monthly report 31 August 2021 | Share class IC Follow us on: Risk Disclosure HSBC Asset Management • Derivatives may be used by the Fund, and these can behave unexpectedly. The pricing and volatility of many derivatives may diverge from strictly reflecting the pricing or volatility of their underlying reference(s), instrument or asset. HSBC Asset Management (Bermuda) • Investment Leverage occurs when the economic exposure is greater than the amount Limited Telephone: +441 299 6644 invested, such as when derivatives are used. A Fund that employs leverage may experience Email: [email protected] greater gains and/or losses due to the amplification effect from a movement in the price of Website: assetmanagement.hsbc.bm the reference source. • Further information on the Fund's potential risks can be found in the Key Investor Information Document and Prospectus. Glossary Index Disclaimer Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non- infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com) Source: HSBC Asset Management, data as at 31 August 2021 HSBC Global Investment Funds CHINESE EQUITY Monthly report 31 August 2021 | Share class IC Important Information HSBC Global Asset Management (Bermuda) Limited (“AMBM”) of 37 Front Street, Hamilton, Bermuda, is a wholly owned subsidiary of HSBC Bank Bermuda Limited (the “Bank”). AMBM and the Bank are licensed to conduct investment business by the Bermuda Monetary Authority. Funds managed by AMBM are offered by Prospectus only in those jurisdictions where they are permitted by law. Persons are required to inform themselves and observe any relevant restrictions. AMBM makes no representation as to the suitability of the funds for investors. Investors should be aware that performance returns are affected by market fluctuations. Investing entails risks, including possible loss of principal. Past performance is no guarantee of future performance. Investors should note that the use of derivatives and investments involving a currency other than their own will create foreign exchange exposure, which involves special risks. It is the aim of the Company to preserve capital and, where applicable, to maintain a stable net asset value per share; these aims are not guaranteed. Additionally, investors should consider their investment objectives, whether or not they can assume these risks and should undertake their own appropriate professional advice. Expressions of opinion contained herein are subject to change without notice.