Bochk Wealth Creation Series Annual Report 30 June 2020

BOCHK WEALTH CREATION SERIES

ANNUAL REPORT

30 JUNE 2020 BOCHK WEALTH CREATION SERIES

CONTENTS Pages

Administration and management 1

Report of the trustee 2

Independent auditor’s report 3-5

Statements of net assets 6-7

Statements of profit or loss and other comprehensive income 8-10

Statements of changes in net assets attributable to unitholders 11-17

Statements of cash flows 18-21

Notes to the financial statements 22-154

Investment portfolio (Unaudited) 155-221

Statements of movements in portfolio holdings (Unaudited) 222-225

Performance table (Unaudited) 226-231

Performance record (Unaudited) 232-237

Information on exposure arising from financial derivative instruments (Unaudited) 238 BOCHK WEALTH CREATION SERIES

ADMINISTRATION AND MANAGEMENT

Manager/QFII Holder/RQFII Holder Solicitors to the Manager BOCHK Asset Management Limited Deacons 5/F Bank of China Building 5/F, Alexandra House 2A Des Voeux Road Central 18 Chater Road Central Hong Kong Hong Kong

Trustee and Registrar Auditors BOCI-Prudential Trustee Limited Ernst & Young 12th & 25th Floor, Citicorp Centre 22/F, CITIC Tower 18 Whitfield Road 1 Tim Mei Avenue Causeway Bay Central Hong Kong Hong Kong

–1– BOCHK WEALTH CREATION SERIES

REPORT OF THE TRUSTEE

We hereby confirm that, in our opinion, the Manager, BOCHK Asset Management Limited, has, in all material respects, managed BOCHK Wealth Creation Series for the year ended 30 June 2020 in accordance with the provisions of the Trust Deed dated 4 June 2012, as amended.

On behalf of BOCI-Prudential Trustee Limited, the Trustee

28 October 2020

–2– INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE AND THE MANAGER OF THE SUB-FUNDS OF BOCHK WEALTH CREATION SERIES

Report on the audit of financial statements

Opinion

We have audited the financial statements of BOCHK All Weather Global Opportunities Fund, BOCHK All Weather China High Yield Bond Fund, BOCHK All Weather Hong Kong Equity Fund, BOCHK All Weather CNY Equity Fund, BOCHK All Weather Asian Bond Fund, BOCHK All Weather Asia (ex-Japan) Equity Fund, BOCHK All Weather China Income Fund, BOCHK All Weather Asia Pacific High Income Fund, BOCHK All Weather Short Term Bond Fund, BOCK All Weather Belt and Road Bond Fund and BOCHK All Weather Greater Bay Area Strategy Fund (the “Sub-Funds” of BOCHK Wealth Creation Series) set out on pages 6 to 154, which comprise the statements of net assets as at 30 June 2020, and the statements of profit or loss and other comprehensive income, the statements of changes in net assets attributable to unitholders and the statements of cash flows for the year then ended for BOCHK All Weather Global Opportunities Fund, BOCHK All Weather China High Yield Bond Fund, BOCHK All Weather Hong Kong Equity Fund, BOCHK All Weather CNY Equity Fund, BOCHK All Weather Asian Bond Fund, BOCHK All Weather Asia (ex-Japan) Equity Fund, BOCHK All Weather China Income Fund, BOCHK All Weather Asia Pacific High Income Fund, BOCHK All Weather Short Term Bond Fund, BOCHK All Weather Belt and Road Bond Fund and for the period from 8 April 2019 (date of commencement of operations) to 30 June 2020 for BOCHK All Weather Greater Bay Area Strategy Fund and notes to the financial statements, including a summary of significant accounting policies.

In our opinion, the financial statements give a true and fair view of the financial position of the Sub-Funds as at 30 June 2020, and their financial performance and cash flows for the year then ended for BOCHK All Weather Global Opportunities Fund, BOCHK All Weather China High Yield Bond Fund, BOCHK All Weather Hong Kong Equity Fund, BOCHK All Weather CNY Equity Fund, BOCHK All Weather Asian Bond Fund, BOCHK All Weather Asia (ex-Japan) Equity Fund, BOCHK All Weather China Income Fund, BOCHK All Weather Asia Pacific High Income Fund, BOCHK All Weather Short Term Bond Fund, BOCHK All Weather Belt and Road Bond Fund and for the period from 8 April 2019 (date of commencement of operations) to 30 June 2020 for BOCHK All Weather Greater Bay Area Strategy Fund in accordance with Hong Kong Financial Reporting Standards (“HKFRSs”) issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”).

Basis for opinion

We conducted our audit in accordance with Hong Kong Standards on Auditing (“HKSAs”) issued by the HKICPA. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Sub-Funds in accordance with the HKICPA’s Code of Ethics for Professional Accountants (“the Code”), and we have fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

–3– INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE AND THE MANAGER OF THE SUB-FUNDS OF BOCHK WEALTH CREATION SERIES (CONTINUED)

Other information included in the Annual Report

The Trustee and the Manager of the Sub-Funds are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our auditor’s report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of the Trustee and the Manager for the financial statements

The Trustee and the Manager of the Sub-Funds are responsible for the preparation of the financial statements that give a true and fair view in accordance with HKFRSs issued by the HKICPA, and for such internal control as the Trustee and the Manager determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustee and the Manager of the Sub-Funds are responsible for assessing the Sub-Funds’ ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee and the Manager either intend to liquidate the Sub-Funds or to cease operations, or have no realistic alternative but to do so.

In addition, the Trustee and the Manager of the Sub-Funds are required to ensure that the financial statements have been properly prepared in accordance with the relevant disclosure provisions of the trust deed dated 4 June 2012, as amended (the “Trust Deed”) and the relevant disclosure provisions of Appendix E of the Code on Unit Trusts and Mutual Funds (“the SFC Code”) issued by the Hong Kong Securities and Futures Commission.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Our report is made solely to you, as a body, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with HKSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. In addition, we are required to assess whether the financial statements of the Sub-Funds have been properly prepared, in all material respects, in accordance with the relevant disclosure provisions of the Trust Deed and the relevant disclosure provisions of Appendix E of the SFC Code.

–4– INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE AND THE MANAGER OF THE SUB-FUNDS OF BOCHK WEALTH CREATION SERIES (CONTINUED)

Auditor’s responsibilities for the audit of the financial statements (continued)

As part of an audit in accordance with HKSAs, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Sub-Funds’ internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustee and the Manager.

• Conclude on the appropriateness of the Trustee’s and the Manager’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Sub-Funds’ ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Sub-Funds to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with the Trustee and the Manager regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Report on matters under the relevant disclosure provisions of the Trust Deed and the relevant disclosure provisions of Appendix E of the SFC Code

In our opinion, the financial statements have been properly prepared, in all material respects, in accordance with the relevant disclosure provisions of the Trust Deed and the relevant disclosure provisions of Appendix E of the SFC Code.

Certified Public Accountants Hong Kong 28 October 2020

–5– BOCHK WEALTH CREATION SERIES

STATEMENTS OF NET ASSETS 30 JUNE 2020

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather Global Opportunities FundChina High Yield Bond FundHong Kong Equity Fund CNY Equity Fund Asian Bond Fund Asia (ex-Japan) Equity Fund Notes 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 USD USD RMB RMB HKD HKD RMB RMB USD USD USD USD ASSETS Financial assets at fair value through profit or loss 6,7 6,714,117 6,156,115 1,390,527,968 1,827,922,263 205,021,414 210,659,410 262,334,740 262,035,487 166,904,574 49,484,084 6,540,179 5,352,221 Amounts due from brokers 8 – 807,980 – 95,160,956 – – 706,880 13,074,066 805,304 2,351,935 19,317 53,068 Dividends receivable 920 1,656 362,521 129,492 1,177,199 967,196 – – 4,516 – 25,584 23,057 Interest receivable 1––––––––––– Amounts receivable on subscription – – 167,315 4,807,967 – – 219,881 – 533,826 2,351,097 – – Other receivables – – 20,652 21,691 – – 432 374–––– Deposit reserve ––––––224,000 224,000–––– Cash and cash equivalents 14 769,772 286,790 46,286,144 122,007,968 5,083,014 28,138,822 6,816,276 3,428,400 6,897,825 1,859,578 285,294 72,883

Total assets 7,484,810 7,252,541 1,437,364,600 2,050,050,337 211,281,627 239,765,428 270,302,209 278,762,327 175,146,045 56,046,694 6,870,374 5,501,229

LIABILITIES Financial–6– liabilities at fair value through profit or loss 6,7 – – 182,003 438,158 – – 26,814 20,825–––– Amounts due to brokers 8 – 798,344 16,256,968 153,209,534 – – 706,530 11,837,806 2,299,820 3,544,501 40,905 56,779 Distribution payable 16 – – 15,671,970 19,199,669––––447,383 110,844 – – Management fee payable 4(a) 5,290 4,082 1,233,566 1,501,708 179,210 182,413 392,441 367,547 113,079 23,755 3,398 1,994 Trustee fee payable 4(b) 2,661 2,500 141,351 169,639 22,925 22,067 28,032 26,253 16,713 4,894 2,661 2,500 Accrued expenses and other payables 20,816 19,919 152,884 150,178 222,540 218,156 392,357 301,405 22,895 22,980 20,945 37,053 Amounts payable on redemption 10,197 2,327 2,199,944 6,710,938 19,638 115,148 1,959,389 252,931 19,691 – 8,059 –

Liabilities (excluding net assets attributable to unitholders) 38,964 827,172 35,838,686 181,379,824 444,313 537,784 3,505,563 12,806,767 2,919,581 3,706,974 75,968 98,326

Net assets attributable to unitholders 7,445,846 6,425,369 1,401,525,914 1,868,670,513 210,837,314 239,227,644 266,796,646 265,955,560 172,226,464 52,339,720 6,794,406 5,402,903

The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

STATEMENTS OF NET ASSETS (CONTINUED) 30 JUNE 2020

BOCHK All Weather Greater Bay BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather Area Strategy China Income Fund Asia Pacific High Income FundShort Term Bond Fund Belt and Road Bond Fund Fund Notes 2020 2019 2020 2019 2020 2019 2020 2019 2020 HKD HKD USD USD USD USD USD USD USD ASSETS Financial assets at fair value through profit or loss 6,7 121,863,925 206,439,265 11,894,653 16,058,884 177,751,545 62,841,689 21,939,579 26,296,570 184,320,363 Amounts due from brokers 8 – 11,026,378 – – 1,421,741 – – 2,373,628 – Dividends receivable 708,989 541,536 35,149 62,892 36,909 – 10,777 – 7,150 Interest receivable ––––193,469 291,471––– Amounts receivable on subscription – 17,942––––16,709 91,423 655,435 Other receivables ––––52,398 – – 251 – Deposit reserve ––––––––– Cash and cash equivalents 14 9,098,749 6,824,053 671,487 1,540,040 138,593,344 46,280,827 1,008,472 659,108 6,023,860

Total assets–7– 131,671,663 224,849,174 12,601,289 17,661,816 318,049,406 109,413,987 22,975,537 29,420,980 191,006,808

LIABILITIES Financial liabilities at fair value through profit or loss 6,7 ––––1,033,320 78,382––– Amounts due to brokers 8 3,092,837 16,610,922 – 262,875 4,401,542 207,852 – 2,337,728 2,299,820 Distribution payable 16 378,874 607,282 49,309 64,400 – – 76,659 87,162 552,475 Management fee payable 4(a) 168,662 254,224 16,391 20,893 62,943 22,736 19,370 21,919 141,112 Trustee fee payable 4(b) 21,290 21,185 2,661 2,500 21,290 8,134 2,661 2,289 18,425 Accrued expenses and other payables 166,195 167,270 20,785 68,847 21,254 19,957 41,379 41,715 53,837 Amounts payable on redemption – 183,251 25,872 59,008 – 1,175,428 38,822 785,922 98,799

Liabilities (excluding net assets attributable to unitholders) 3,827,858 17,844,134 115,018 478,523 5,540,349 1,512,489 178,891 3,276,735 3,164,468

Net assets attributable to unitholders 127,843,805 207,005,040 12,486,271 17,183,293 312,509,057 107,901,498 22,796,646 26,144,245 187,842,340

Trustee Manager

The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather Global Opportunities FundChina High Yield Bond FundHong Kong Equity Fund CNY Equity Fund Asian Bond Fund Asia (ex-Japan) Equity Fund Notes 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 USD USD RMB RMB HKD HKD RMB RMB USD USD USD USD INCOME Dividend income 31,536 39,789 494,067 446,008 5,202,791 6,728,250 3,790,066 4,231,946 4,516 – 155,269 132,173 Interest income on bank deposits 223 271 65,417 611,864 7,094 17,238 19,240 46,182 3,481 806 75 189 Other income – – 76,264 433,945 – 39 – – 777 – 17,054 148 Net gains/(losses) on financial assets and liabilities at fair value through profit or loss 6 392,763 303,806 52,161,874 262,466,517 (5,587,603) (34,434,605) 94,928,991 5,530,849 3,642,191 4,993,651 164,168 (397,727) Net exchange gains/(losses) 2,717 (1,745) (40,313,754) (63,570,895) 68,305 (535,719) (30,927) 107,395 (21,650) 947 (316) (3,968)

Total income/(loss) 427,239 342,121 12,483,868 200,387,439 (309,413) (28,224,797) 98,707,370 9,916,372 3,629,315 4,995,404 336,250 (269,185)

EXPENSES

Management–8– fee 4(a) 55,823 50,114 15,632,183 19,970,450 2,220,620 2,253,463 4,400,156 4,581,615 1,018,363 269,840 33,009 28,974 Trustee fee 4(b) 30,000 30,000 1,770,370 1,996,817 281,482 296,710 315,471 327,259 143,791 54,104 30,000 30,000 Sub-custodian fee 5,321 14,008 379,741 529,094 93,314 203,841 272,985 363,384 38,621 24,022 6,994 20,499 Auditor’s remuneration 20,700 19,640 145,663 134,140 223,702 220,734 225,661 214,140 20,700 19,640 20,700 19,250 Commissions and transaction costs 15 3,405 19,299 114,090 209,390 865,178 4,041,003 1,245,446 2,192,697 12,682 9,926 16,379 32,022 Preliminary expenses –––––––––––– Legal and professional fees 771 440 183,824 137,248 25,238 17,339 27,585 17,828 12,034 2,991 698 – Other expenses 10,110 8,007 195,897 273,689 118,180 87,628 85,436 71,446 22,226 16,251 12,042 8,125

Total operating expenses 126,130 141,508 18,421,768 23,250,828 3,827,714 7,120,718 6,572,740 7,768,369 1,268,417 396,774 119,822 138,870

Operating profit/(loss) 301,109 200,613 (5,937,900) 177,136,611 (4,137,127) (35,345,515) 92,134,630 2,148,003 2,360,898 4,598,630 216,428 (408,055) FINANCE COST Distributions to unitholders – – (63,448,204) (80,194,106) ––––(4,222,351) (1,033,996) – – Profit/(loss) before tax 301,109 200,613 (69,386,104) 96,942,505 (4,137,127) (35,345,515) 92,134,630 2,148,003 (1,861,453) 3,564,634 216,428 (408,055) Withholding tax 5 (6,570) (8,278) – – (291,156) (367,683) (384,141) (427,597) – – (20,851) (13,865)

Profit/(loss) and total comprehensive income for the year/period 294,539 192,335 (69,386,104) 96,942,505 (4,428,283) (35,713,198) 91,750,489 1,720,406 (1,861,453) 3,564,634 195,577 (421,920)

The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (CONTINUED) FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

INCOME Dividend income 3,169,744 5,046,808 313,064 456,574 36,909 – 18,119 – 7,150 Interest income on bank deposits 2,936 11,130 324 846 1,733,290 2,773,745 928 4,682 32,987 Other income 1,507 – 48,474 – 6,052 – 193 – 32,874 Net gains/(losses) on financial assets and liabilities at fair value through profit or loss 6 (17,158,168) 49,635 (491,018) 103,105 5,503,319 1,314,092 1,157,971 790,680 6,483,333 Net exchange gains/(losses) 431 (180,438) (906) (4,288) 355,916 187,533 12,577 (6,709) 18,841 –9–

Total income/(loss) (13,983,550) 4,927,135 (130,062) 556,237 7,635,486 4,275,370 1,189,788 788,653 6,575,185

EXPENSES Management fee 4(a) 2,570,709 3,336,464 211,147 301,777 457,509 290,938 247,220 78,539 1,792,470 Trustee fee 4(b) 242,693 278,040 30,000 30,544 150,627 87,891 32,125 9,817 211,578 Sub-custodian fee 206,666 296,370 15,479 26,462 22,321 5,738 20,892 6,370 52,295 Auditor’s remuneration 161,346 153,979 20,700 19,700 20,650 19,750 19,650 20,750 20,750 Commissions and transaction costs 15 514,349 1,619,035 18,669 48,998 6,921 1,768 11,193 3,311 15,418 Preliminary expenses –––––80,000 – 80,000 80,000 Legal and professional fees 21,221 16,286 1,685 283 15,325 6,111 3,071 – 17,716 Other expenses 86,213 76,225 10,389 11,314 58,028 17,520 11,141 2,767 40,725

Total operating expenses 3,803,197 5,776,399 308,069 439,078 731,381 509,716 345,292 201,554 2,230,952 BOCHK WEALTH CREATION SERIES

STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (CONTINUED) FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

Operating profit/(loss) (17,786,747) (849,264) (438,131) 117,159 6,904,105 3,765,654 844,496 587,099 4,344,233 FINANCE COST Distributions to unitholders (5,947,896) (8,241,353) (650,528) (908,276) – – (975,539) (87,162) (6,156,176) Profit/(loss) before tax (23,734,643) (9,090,617) (1,088,659) (791,117) 6,904,105 3,765,654 (131,043) 499,937 (1,811,943) Withholding tax 5 (66,290) (175,667) (30,926) (26,514) – – (1,163) – – –10– Profit/(loss) and total comprehensive income for the year/period (23,800,933) (9,266,284) (1,119,585) (817,631) 6,904,105 3,765,654 (132,206) 499,937 (1,811,943)

Details of the distributions payable and declared for the year/period are disclosed in the Note 16 to the financial statements. 1 For the period from 13 September 2018 (date of commencement of operation) to 30 June 2019. 2 For the period from 14 March 2019 (date of commencement of operation) to 30 June 2019. 3 For the period from 8 April 2019 (date of commencement of operation) to 30 June 2020. The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather Global Opportunities FundChina High Yield Bond FundHong Kong Equity Fund CNY Equity Fund Asian Bond Fund Asia (ex-Japan) Equity Fund Number of units USD Number of units RMB Number of units HKD Number of units RMB Number of units USD Number of units USD Balance at 1 July 2018 or date of commencement of operation 1 3,923,408.3390 6,532,773 211,035,477.1170 2,357,188,111 23,743,265.1670 322,525,852 35,318,814.5640 293,708,972 16,505,879.8240 44,899,745 4,122,627.7950 6,559,514 Subscription of units – Class A1 units 3,487.5380 34,355 5,706,184.6260 59,062,026 4,937,599.4670 52,299,026 76,059.1310 564,916 468,581.5830 4,699,915 – – – Class A2 units 846,796.655 1,096,175 56,361.4970 3,622,672 1,010.8200 76,642 270,902.4200 12,345,921 8,154,481.5820 10,521,774 361,783.0800 490,262 – Class A3 units 1,622.8490 16,713 9,964,257.8670 83,718,096 1,541.7590 99,034 3,884,989.2360 22,546,073 – – – – – Class A4 units – – 12,537.3910 619,817 – – – – – – – – – Class A7 units – – – – – – – – 1,067,658.3270 1,616,410 – – – Class A8 units – – 1,657,593.8620 108,610,326 – – – – – – – – – Class A9 units – – – – – – 629,857.2440 3,361,649 – – – – – Class I2 units – – – – 394,866.7320 31,325,600 – – – – – – – Class I4 units – – 231,660.2310 16,224,240 – – – – – – – – – Class X1 units – – 23,529,411.7640 300,000,000 10,574,026.6800 101,958,382 – – 249,252.2430 2,500,000 50,000.0000 500,000 – Class X2 units – – – – – – – – – – 1,465,612.5340 1,911,023

851,907.0420 1,147,243 41,158,007.2380 571,857,177 15,909,045.4580 185,758,684 4,861,808.0310 38,818,559 9,939,973.7350 19,338,099 1,877,395.6140 2,901,285

Redemption of units – Class–11– A1 units (11,419.7720) (115,957) (51,874,266.4420) (535,856,699) (5,098,678.0790) (54,720,867) (1,059,504.9600) (7,115,694) (832,531.3190) (8,169,065) (19,702.3520) (207,616) – Class A2 units (1,015,938.2850) (1,316,693) (753,437.2700) (47,564,705) (259,722.2680) (20,959,886) (635,914.3890) (26,794,892) (4,770,446.5190) (6,023,250) (856,145.9420) (1,158,976) – Class A3 units (2,009.5040) (14,332) (17,543,853.7370) (144,139,711) – – (5,775,653.2050) (31,772,651) – – – – – Class A4 units – – (42,314.7800) (2,112,531) – – – – – – – – – Class A7 units – – – – (21,888.2720) (286,020) – – (852,431.3770) (1,270,443) (65,745.8640) (103,304) – Class A8 units – – (191,747.8800) (12,409,016) – – – – – – – – – Class A9 units – – – – – – (456,128.5760) (2,609,140) – – – – – Class I4 units – – (466,354.6510) (32,914,271) – – – – – – – – – Class X1 units – – (31,675,256.5460) (382,320,347) (16,563,927.5130) (157,376,921) – – – – – – – Class X2 units – – – – – – – – – – (1,636,838.5940) (2,166,080)

(1,029,367.5610) (1,446,982) (102,547,231.3060) (1,157,317,280) (21,944,216.1320) (233,343,694) (7,927,201.1300) (68,292,377) (6,455,409.2150) (15,462,758) (2,578,432.7520) (3,635,976)

Increase/(decrease) in net assets attributable to unitholders – 192,335 – 96,942,505 – (35,713,198) – 1,720,406 – 3,564,634 – (421,920)

Balance at 30 June 2019 and 1 July 2019 or date of commencement of operations

2 3,745,947.8200 6,425,369 149,646,253.0490 1,868,670,513 17,708,094.4930 239,227,644 32,253,421.4650 265,955,560 19,990,444.3440 52,339,720 3,421,590.6570 5,402,903

The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS (CONTINUED) FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather Global Opportunities FundChina High Yield Bond FundHong Kong Equity Fund CNY Equity Fund Asian Bond Fund Asia (ex-Japan) Equity Fund Number of units USD Number of units RMB Number of units HKD Number of units RMB Number of units USD Number of units USD Subscription of units – Class A1 units 2,286.4020 24,190 4,984,195.4830 50,764,050 4,154,835.4320 42,514,869 172,521.7220 1,622,274 6,957,317.5150 71,472,495 28,570.6020 289,459 – Class A2 units 1,298,325.5750 1,759,376 456,139.2980 29,580,724 1,422.1550 118,673 77,035.0670 4,527,153 49,765,036.8120 65,522,315 505,053.0670 667,790 – Class A3 units 760.7530 7,653 7,266,943.7130 59,659,745 14,397.9290 803,236 1,261,536.8020 8,627,925 – – – – – Class A4 units – – 148,608.6020 7,073,624 – – – – – – – – – Class A7 units – – – – – – – – 13,106,528.5840 19,906,341 8,896.4130 12,509 – Class A8 units – – 1,499,934.5160 94,089,180 55,383.1760 683,937 – – – – – – – Class A9 units – – – – – – 1,455,468.5320 10,431,073 – – – – – Class I1 units – – – – – – – – – – 97,560.9750 1,000,000 – Class X1 units – – – – 744,274.8090 7,800,000 777,903.0430 6,900,000 1,820,900.3220 20,000,000 – – – Class X2 units – – – – 93,896.7130 7,826,900 – – – – – –

1,301,372.7300 1,791,219 14,355,821.6120 241,167,323 5,064,210.2140 59,747,615 3,744,465.1660 32,108,425 71,649,783.2330 176,901,151 640,081.0570 1,969,758

Redemption of units – Class A1 units (4,173.4600) (45,243) (23,586,644.5060) (244,226,808) (6,037,797.2110) (61,605,839) (3,282,438.8770) (28,932,300) (1,926,922.1870) (19,652,682) (24,059.8950) (250,598) – Class A2 units (736,775.8640) (1,006,827) (2,111,285.4860) (138,383,205) (65,048.7140) (5,299,255) (630,242.0100) (31,641,220) (22,904,351.2350) (29,627,739) (366,711.7790) (486,894) – Class A3 units (1,248.9260) (13,211) (12,560,033.2040) (103,165,665) (12,517.2330) (741,817) (7,763,642.5670) (52,453,094) – – – –

– Class–12– A4 units – – (60,754.4250) (2,568,426) – – – – – – – – – Class A7 units – – – – (80,727.9720) (1,042,612) – – (3,940,261.9790) (5,872,533) (23,210.4740) (36,340) – Class A8 units – – (243,398.3230) (16,481,714) – – – – – – – – – Class A9 units – – – – – – (462,537.0090) (3,285,690) – – – – – Class X1 units – – (10,000,000.0000) (134,100,000) (1,737,323.4680) (15,020,139) (777,903.0430) (6,705,524) – – – –

(742,198.2500) (1,065,281) (48,562,115.9440) (638,925,818) (7,933,414.5980) (83,709,662) (12,916,763.5060) (123,017,828) (28,771,535.4010) (55,152,954) (413,982.1480) (773,832)

Increase/(decrease) in net assets attributable to unitholders – 294,539 – (69,386,104) – (4,428,283) – 91,750,489 – (1,861,453) – 195,577

Balance at 30 June 2020 4,305,122.3000 7,445,846 115,439,958.7170 1,401,525,914 14,838,890.1090 210,837,314 23,081,123.1250 266,796,646 62,868,692.1760 172,226,464 3,647,689.5660 6,794,406

1 The date of commencement of operation of BOCHK All Weather Short Term Bond Fund and BOCHK All Weather Belt and Road Bond Fund were 13 September 2018 and 14 March 2019 respectively. 2 The date of commencement of operation of BOCHK All Weather Greater Bay Area Strategy Fund was 8 April 2019. The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS (CONTINUED) FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather China Income Fund Asia Pacific High Income FundShort Term Bond Fund Belt and Road Bond FundGreater Bay Area Strategy Fund Number of units HKD Number of units USD Number of units USD Number of units USD Number of units USD Balance at 1 July 2018 or date of commencement of operation 1 20,281,268.5080 255,911,854 17,241,375.1640 27,833,969 – – – – – – Subscription of units – Class A1 units 1,480,497.0960 13,594,876 33,515.1220 295,820 17,519,010.8290 176,253,011 753,141.1530 7,540,448 – – – Class A2 units 2,172.7520 152,414 175,882.2850 206,731 21,725,707.0250 27,997,923 11,279,287.1230 14,374,196 – – – Class A3 units – – – – 69,620.7500 102,184 – – – – – Class A4 units – – 510.3130 3,283 – – – – – – – Class A8 units 178,047.6480 1,949,844 132,079.5390 186,830 – – 3,711,012.4390 5,516,858 – – – Class I1 units – – – – 5,618,473.4080 56,400,000 – – – – – Class X1 units – – – – 2,591,300.6250 26,250,000 – – – – – Class X2 units – – – – 14,493,959.7900 18,742,149 – – – –

1,660,717.4960 15,697,134 341,987.2590 692,664 62,018,072.4270 305,745,267 15,743,440.7150 27,431,502 – – –13– Redemption of units – Class A1 units (4,566,778.8540) (41,365,916) (311,979.8490) (2,840,413) (14,217,560.0590) (144,838,965) (31,982.5340) (322,880) – – – Class A2 units (112,872.8770) (7,904,290) (5,405,268.9780) (6,283,762) (8,556,119.6620) (11,028,797) (721,410.6680) (935,831) – – – Class A3 units – – – – (17,100.7020) (25,275) – – – – – Class A4 units – – (14,095.9320) (91,929) – – – – – – – Class A7 units – – – – – – – – – – – Class A8 units (574,152.7330) (6,067,458) (975,526.5700) (1,309,605) – – (354,655.8040) (528,483) – – – Class I1 units – – – – (2,422,457.3070) (24,455,712) – – – – – Class X1 units – – – – (1,540,225.3980) (15,566,693) – – – – – Class X2 units – – – – (4,374,353.7760) (5,693,981) – – – –

(5,253,804.4640) (55,337,664) (6,706,871.3290) (10,525,709) (31,127,816.9040) (201,609,423) (1,108,049.0060) (1,787,194) – –

Increase/(decrease) in net assets attributable to unitholders – (9,266,284) – (817,631) – 3,765,654 – 499,937 – –

Balance at 30 June 2019 and 1 July 2019 or date of commencement of operations

2 16,688,181.5400 207,005,040 10,876,491.0940 17,183,293 30,890,255.5230 107,901,498 14,635,391.7090 26,144,245 – – The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS (CONTINUED) FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

Subscription of units – Class A1 units 468,302.1970 4,063,568 40,025.3450 364,279 5,100,088.2660 52,786,848 384,425.8140 3,919,305 4,845,943.8630 49,084,506 – Class A2 units 27,935.4880 1,953,504 549,595.6040 625,228 18,091,624.7000 23,919,038 2,807,199.3910 3,687,941 92,658,609.8670 120,005,090 – Class A3 units – – – – 46,027.9170 69,173 – – 35,700,195.7830 44,471,015 – Class A4 units – – 43,471.3900 253,570 – – – – 2,803,612.6940 4,221,338 – Class A8 units 169,974.2480 1,698,520 37,003.2800 45,766 – – 3,103,701.7310 4,588,705 – – – Class A11 units – – – – – – – – 16,679,582.6470 24,461,134 – Class C1 units – – – – 1,224,017.7290 12,738,000 – – – – – Class I1 units – – – – 10,089,709.2330 104,984,900 – – 500,000.0000 5,000,000 – Class I6 units – – – – 12,493,790.1260 142,874,892 – – – – – Class X1 units – – – – 288,361.7200 3,000,000 – – 2,027,520.0120 20,000,000

666,211.9330 7,715,592 670,095.6190 1,288,843 47,333,619.6910 340,372,851 6,295,326.9360 12,195,951 155,215,464.8660 267,243,083 –14–

Redemption of units – Class A1 units (1,716,571.8650) (14,986,593) (200,571.1600) (1,824,557) (2,621,562.9550) (27,284,905) (291,346.2690) (3,009,403) (1,760,633.9120) (18,021,123) – Class A2 units (463,835.6490) (31,328,493) (2,182,596.9780) (2,555,176) (13,052,972.1900) (17,274,759) (5,704,692.5410) (7,353,396) (35,637,016.0360) (45,294,452) – Class A3 units – – – – (18,677.4870) (28,173) – – (4,817,314.2040) (5,959,914) – Class A4 units – – (15,147.9340) (88,405) – – – – (684,256.3090) (1,032,347) – Class A7 units – – – – – – – – – – – Class A8 units (1,719,879.4960) (16,760,808) (302,581.7110) (398,142) – – (3,355,819.5720) (5,048,545) – – – Class A11 units – – – – – – – – (5,149,091.8570) (7,280,964) – Class C1 units – – – – (243,197.9590) (2,529,287) – – – – – Class I1 units – – – – (7,605,138.0600) (79,246,666) – – – – – Class X1 units – – – – (933,565.2640) (9,622,571) – – – – – Class X2 units – – – – (5,044,215.7090) (6,683,036) – – – –

(3,900,287.0100) (63,075,894) (2,700,897.7830) (4,866,280) (29,519,329.6240) (142,669,397) (9,351,858.3820) (15,411,344) (48,048,312.3180) (77,588,800) BOCHK WEALTH CREATION SERIES

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS (CONTINUED) FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

Increase/(decrease) in net assets attributable to unitholders – (23,800,933) – (1,119,585) – 6,904,105 – (132,206) – (1,811,943)

Balance at 30 June 2020 13,454,106.4630 127,843,805 8,845,688.9300 12,486,271 48,704,545.5900 312,509,057 11,578,860.2630 22,796,646 107,167,152.5480 187,842,340

1 The date of commencement of operation of BOCHK All Weather Short Term Bond Fund and BOCHK All Weather Belt and Road Bond Fund were 13 September 2018 and 14 March 2019 respectively. 2

–15– The date of commencement of operation of BOCHK All Weather Greater Bay Area Strategy Fund was 8 April 2019.

The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS (CONTINUED) FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather Global Opportunities FundChina High Yield Bond FundHong Kong Equity Fund CNY Equity Fund Asian Bond Fund Asia (ex-Japan) Equity Fund 30 June 2020 30 June 2019 30 June 2020 30 June 2019 30 June 2020 30 June 2019 30 June 2020 30 June 2019 30 June 2020 30 June 2019 30 June 2020 30 June 2019

Number of units in issue – Class A1 units 132,305.3100 134,192.3680 51,867,931.0130 70,470,380.0360 10,907,742.4520 12,790,704.2310 3,043,211.4670 6,153,128.6220 6,029,743.8510 999,348.5230 34,929.2870 30,418.5800 – Class A2 units 2,480,679.6760 1,919,129.9650 1,199,543.3880 2,854,689.5760 294,377.0610 358,003.6200 1,112,051.4600 1,665,258.4030 41,044,906.6580 14,184,221.0810 922,810.9460 784,469.6580 – Class A3 units 983.47700 1,471.6500 37,496,636.1550 42,789,725.6460 38,000.4050 36,119.7090 17,341,315.2580 23,843,421.0230 – – – – – Class A4 units – – 385,694.17800 297,840.0010 – – – – – – – – – Class A7 units – – – – 130,504.0370 155,848.8330 – – 12,245,067.9240 3,078,801.3190 191,775.2110 206,089.2720 – Class A8 units – – 3,295,236.9930 2,038,700.8000 – – – – – – – – – Class A9 units – – – – – – 1,584,544.9400 591,613.4170 – – – – – Class A11 units – – – – – – – – – – – – – Class C1 units – – – – – – – – – – – – – Class I1 units – – – – – – – – – – 97,560.9750 – – Class I2 units – – – – 394,866.7320 394,866.7320 – – – – – – – Class I4 units – – – – – – – – – – – – – Class I6 units – – – – – – – – – – – – – Class X1 units – – 21,194,916.9900 31,194,916.9900 2,979,502.7090 3,972,551.3680 – – 3,548,973.7430 1,728,073.4210 50,000.0000 50,000.0000 – Class X2 units 1,691,153.8370 1,691,153.8370 – – 93,896.7130 – – – – – 2,350,613.1470 2,350,613.1470 –16–

The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

STATEMENTS OF CHANGES IN NET ASSETS ATTRIBUTABLE TO UNITHOLDERS (CONTINUED) FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather China Income Fund Asia Pacific High Income Fund Short Term Bond Fund Belt and Road Bond Fund Greater Bay Area Strategy Fund 30 June 2020 30 June 2019 30 June 2020 30 June 2019 30 June 2020 30 June 2019 30 June 2020 30 June 2019 30 June 2020 30 June 2019

Number of units in issue – Class A1 units 10,661,677.0640 11,909,946.7320 260,022.0830 420,567.8980 5,779,976.0810 3,301,450.7700 814,238.1640 721,158.6190 3,085,309.9510 – – Class A2 units 310,037.2150 745,937.3760 6,949,571.2910 8,582,572.6650 18,208,239.8730 13,169,587.3630 7,660,383.3050 10,557,876.4550 57,021,593.8310 – – Class A3 units ––––79,870.4780 52,520.0480 – – 30,882,881.5790 – – Class A4 units – – 117,501.0970 89,177.6410––––2,119,356.3850 – – Class A7 units –––––––––– – Class A8 units 2,482,392.1840 4,032,297.4320 1,518,594.4590 1,784,172.8900 – – 3,104,238.7940 3,356,356.6350 – – – Class A9 units –––––––––– – Class A11 units ––––––––11,530,490.7900 – – Class C1 units ––––980,819.7700––––– – Class I1 units ––––5,680,587.2740 3,196,016.1010 – – 500,000.0000 – – Class I2 units –––––––––– – Class I4 units ––––––––––

––17– Class I6 units ––––12,493,790.1260––––– – Class X1 units ––––405,871.6830 1,051,075.2270 – – 2,027,520.0120 – – Class X2 units ––––5,075,390.3050 10,119,606.0140––––

The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

STATEMENTS OF CASH FLOWS FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather Global Opportunities FundChina High Yield BondHong Fund Kong Equity FundCNY Equity Fund Asian Bond Fund Asia (ex-Japan) Equity Fund Notes 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 USD USD RMB RMB HKD HKD RMB RMB USD USD USD USD

Cash flows from operating activities Profit/(loss) before tax 301,109 200,613 (5,937,900) 177,136,611 (4,137,127) (35,345,515) 92,134,630 2,148,003 2,360,898 4,598,630 216,428 (408,055) Adjustments for: Interest income on bank deposits (223) (271) (65,417) (611,864) (7,094) (17,238) (19,240) (46,182) (3,481) (806) (75) (189) Dividend income (31,536) (39,789) (494,067) (446,008) (5,202,791) (6,728,250) (3,790,066) (4,231,946) (4,516) – (155,269) (132,173) Proceeds from sale of financial instruments at fair value through profit or loss 13,062,746 23,003,644 3,491,635,664 7,645,522,206 179,025,876 922,992,719 470,032,442 782,569,878 222,177,788 198,024,703 3,186,494 7,935,517 Purchase of financial instruments at fair value through profit or loss (13,227,985) (22,991,623) (3,002,335,650) (7,176,140,745) (178,975,483) (856,082,068) (375,396,715) (779,221,458) (335,956,087) (197,501,839) (4,210,284) (7,326,190) Net change in unrealised gain/loss on financial instruments at fair value through profit or loss 6 (333,125) (469,185) 59,199,398 (70,999,822) 11,863,029 (14,501,352) (58,909,820) (45,902,513) (2,370,681) (2,939,081) (73,005) 166,951 Net realised (gain)/loss on financial instruments at fair value through profit or loss 6 (59,638) 165,379 (111,361,272) (191,466,695) (6,275,426) 48,935,957 (36,019,171) 40,371,664 (1,271,510) (2,054,570) (91,163) 230,776 (288,652) (131,232) 430,640,756 382,993,683 (3,709,016) 59,254,253 88,032,060 (4,312,554) (115,067,589) 127,037 (1,126,874) 466,637 Changes in operating assets and liabilities:

(Increase)/decrease in–18– amounts due from brokers 807,980 (606,057) 95,160,956 (61,374,110) – 44,887,153 12,367,186 (10,801,958) 1,546,631 (2,329,330) 33,751 (53,068) (Increase)/decrease in other receivables (1) – 1,039 (3,710) – – (58) 3,183 –––– Increase/(decrease) in amounts due to brokers (798,344) 595,674 (136,952,566) 129,866,763 – (10,359,688) (11,131,276) 11,833,515 (1,244,681) 3,521,939 (15,874) 56,779 Increase/(decrease) in management fee payable 1,208 (280) (268,142) (524,407) (3,203) (62,951) 24,894 (73,805) 89,324 (1,798) 1,404 (1,767) Increase/(decrease) in trustee fee payable 161 – (28,288) (41,558) 858 (16,088) 1,779 (5,272) 11,819 213 161 – Increase/(decrease) in accrued expenses and other payables 897 438 2,706 (59,663) 4,384 4,106 90,952 85,254 (85) 3,302 (16,108) (1,610) Cash provided from/(used in) operating activities (276,751) (141,457) 388,556,461 450,856,998 (3,706,977) 93,706,785 89,385,537 (3,271,637) (114,664,581) 1,321,363 (1,123,540) 466,971 Interest received 223 271 65,417 646,701 7,094 17,238 19,240 46,182 3,481 806 75 189 Dividend received 32,272 39,653 261,038 409,458 4,992,788 6,643,790 3,790,066 4,231,946 – – 152,742 137,508 Taxation paid (6,570) (8,278) – – (291,156) (367,683) (384,141) (427,597) – – (20,851) (13,856) Net cash generated from/(used in) operating activities (250,826) (109,811) 388,882,916 451,913,157 1,001,749 100,000,130 92,810,702 578,894 (114,661,100) 1,322,169 (991,574) 590,812 BOCHK WEALTH CREATION SERIES

STATEMENTS OF CASH FLOWS (CONTINUED) FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

Cash flows from financing activities * Proceeds from issue of units 1,791,219 1,147,243 239,301,663 569,972,368 59,747,615 185,758,684 31,888,544 38,818,593 178,342,764 16,956,084 1,969,758 2,901,285 Payments on redemption of units (1,057,411) (1,445,328) (643,436,812) (1,171,365,231) (83,805,172) (263,523,218) (121,311,370) (72,633,216) (55,133,263) (15,563,847) (765,773) (3,643,908) Payments on distribution to unitholders 15 – – (60,469,591) (79,367,816) ––––(3,510,154) (991,465) – – Net cash generated from/(used in) financing activities 733,808 (298,085) (464,604,740) (680,760,679) (24,057,557) (77,764,534) (89,422,826) (33,814,623) 119,699,347 400,772 1,203,985 (742,623) Net increase/(decrease) in cash and cash equivalents 482,982 (407,896) (75,721,824) (228,847,522) (23,055,808) 22,235,596 3,387,876 (33,235,729) 5,038,247 1,722,941 212,411 (151,811) Cash and cash equivalents at beginning of the year/period 286,790 694,686 122,007,968 350,855,490 28,138,822 5,903,226 3,428,400 36,664,129 1,859,578 136,637 72,883 224,694 Cash and cash equivalents at end of the year/period 769,772 286,790 46,286,144 122,007,968 5,083,014 28,138,822 6,816,276 3,428,400 6,897,825 1,859,578 285,294 72,883 Analysis of balances of cash and cash equivalents: Cash at bank 14 511,724 286,790 46,286,144 122,007,968 5,083,014 28,138,822 6,816,276 3,428,400 6,897,825 1,859,578 285,294 72,883 Time deposits with original maturity of less than three months 14 258,048 ––––––––––– 769,772 286,790 46,286,144 122,007,968 5,083,014 28,138,822 6,816,276 3,428,400 6,897,825 1,859,578 285,294 72,883 –19–

The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

STATEMENTS OF CASH FLOWS (CONTINUED) FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

BOCHK All Weather Greater BOCHK All Weather ChinaBOCHK All Weather AsiaBOCHK All Weather ShortBOCHK All Weather Belt andBay Area Income Fund Pacific High Income Fund Term Bond Fund Road Bond Fund Strategy Fund Notes 2020 2019 2020 20191 20202020 2019 20192 20203 HKD HKD USD USD USD USD USD USD USD

Cash flows from operating activities Profit/(loss) before tax (17,786,747) (849,264) (438,131) 117,159 6,904,105 3,765,654 844,496 587,099 4,344,233 Adjustments for: Interest income on bank deposits (2,936) (11,130) (324) (846) (1,733,290) (2,773,745) (928) (4,682) (32,987) Dividend income (3,169,744) (5,046,808) (313,064) (456,574) (36,909) – (18,119) – (7,150) Proceeds from sale of financial instruments at fair value through

profit or–20– loss 718,943,718 1,220,629,704 19,995,930 39,757,695 206,247,053 58,366,643 92,470,765 38,414,591 373,103,474 Purchase of financial instruments at fair value through profit or loss (651,526,546) (1,174,383,055) (16,322,717) (29,971,745) (314,698,652) (119,815,858) (86,955,803) (63,920,732) (550,940,504) Net change in unrealised gain/loss on financial instruments at fair value through profit or loss 6 11,328,555 (7,941,259) 1,060,350 (1,858,041) (2,701,005) (488,341) 266,144 (710,585) (4,381,966) Net realised (gain)/loss on financial instruments at fair value through profit or loss 6 5,829,613 7,891,624 (569,332) 1,754,936 (2,802,314) (825,751) (1,424,115) (80,095) (2,101,367) 63,615,913 40,289,812 3,412,712 9,342,584 (108,821,012) (61,771,398) 5,182,440 (25,714,404) (180,016,267) Changes in operating assets and liabilities: (Increase)/decrease in amounts due from brokers 11,026,378 (11,003,886) – – (1,421,741) – 2,373,628 (2,373,628) – (Increase)/decrease in other receivables ––––––251–– Increase/(decrease) in amounts due to brokers (13,518,085) 16,084,996 (262,875) 146,164 4,193,690 207,852 (2,337,728) 2,337,728 2,299,820 Increase/(decrease) in management fee payable (85,562) (78,216) (4,502) (15,409) 40,207 22,736 (2,549) 21,919 141,112 Increase/(decrease) in trustee fee payable 105 (6,519) 161 (525) 13,156 8,134 372 2,289 18,425 Increase/(decrease) in accrued expenses and other payables (1,075) (12,346) (48,062) (8,323) 1,297 19,957 (336) 41,715 53,837 Cash provided from/(used in) operating activities 61,037,674 45,273,841 3,097,434 9,464,491 (105,994,403) (61,512,719) 5,216,078 (25,684,381) (177,503,073) Interest received 2,936 11,130 324 846 1,831,292 2,482,274 928 4,682 32,987 Dividend received 3,002,291 5,391,802 340,807 430,071 – – 7,342 – – Taxation paid (66,290) (175,667) (30,926) (26,514) – – (1,163) – – Net cash generated from/(used in) operating activities 63,976,611 50,501,106 3,407,639 9,868,894 (104,163,111) (59,030,445) 5,223,185 (25,679,699) (177,470,086) BOCHK WEALTH CREATION SERIES

STATEMENTS OF CASH FLOWS (CONTINUED) FOR THE YEAR/PERIOD ENDED 30 JUNE 2020

Cash flows from financing activities * Proceeds from issue of units 7,020,304 15,981,522 1,247,755 693,913 340,320,453 305,745,267 12,209,220 27,340,079 265,436,159 Payments on redemption of units (63,259,145) (55,957,748) (4,899,416) (10,898,496) (143,844,825) (200,433,995) (16,158,444) (1,001,272) (77,490,001) Payments on distribution to unitholders 15 (5,463,074) (8,511,743) (624,531) (954,311) – – (924,597) – (4,452,212) Net cash generated from/(used in) financing activities (61,701,915) (48,487,969) (4,276,192) (11,158,894) 196,475,628 105,311,272 (4,873,821) 26,338,807 183,493,946 Net increase/(decrease) in cash and cash equivalents 2,274,696 2,013,137 (868,553) (1,289,999) 92,312,517 46,280,827 349,364 659,108 6,023,860

Cash and cash–21– equivalents at beginning of the year/period 6,824,053 4,810,916 1,540,040 2,830,039 46,280,827 – 659,108 – – Cash and cash equivalents at end of the year/period 9,098,749 6,824,053 671,487 1,540,040 138,593,344 46,280,827 1,008,472 659,108 6,023,860 Analysis of balances of cash and cash equivalents: Cash at bank 14 9,098,749 6,824,053 671,487 1,540,040 2,375,343 3,071,527 1,008,472 659,108 6,023,860 Time deposits with original maturity of less than three months 14 ––––136,218,001 43,209,300––– 9,098,749 6,824,053 671,487 1,540,040 138,593,344 46,280,827 1,008,472 659,108 6,023,860

* Dividends of RMB6,506,312 (2019: RMB5,864,078), USD412,648 (2019: USD32,278), HKD700,598 (2019: HKD875,602), USD39,427 (2019: USD73,258), USD60,959 (2019: USD5,690) and USD1,289,201 were reinvested into BOCHK All Weather China High Yield Bond Fund, BOCHK All Weather Asian Bond Fund, BOCHK All Weather China Income Fund, BOCHK All Weather Asia Pacific High Income Fund, BOCHK All Weather Belt and Road Bond Fund and BOCHK All Weather Greater Bay Area Strategy Fund respectively. These non-cash dividend re-investments were excluded in the cash flows of the financing activities. 1 For the period from 13 September 2018 (date of commencement of operation) to 30 June 2019. 2 For the period from 14 March 2019 (date of commencement of operation) to 30 June 2019. 3 For the period from 8 April 2019 (date of commencement of operation) to 30 June 2020.

The notes on pages 22 to 154 form an integral part of these financial statements. BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

1 The Fund and the Sub-Funds

BOCHK Wealth Creation Series (the “Fund”) is a unit trust which is governed by its trust deed dated 4 June 2012, as amended (the “Trust Deed”), entered with BOCHK Asset Management Limited, as the Manager, and BOCI-Prudential Trustee Limited, as the Trustee. It is established under and governed by the laws of Hong Kong.

The Fund is an umbrella unit trust. The Manager may create different sub-funds (“Sub-Funds”) under this umbrella structure. Multiple classes of units, denominated in a different currency, may be issued in respect of each Sub-Fund and the Manager may request the Trustee to create additional classes of units in relation to each Sub-Fund. As at 30 June 2020, there were 12 Sub-Funds in issue (2019:11).

The respective dates of commencement of operation and the class of units in issue of each Sub-Fund are as follows:

Date of commencement of Class of units in issue Sub-Funds operation (issuing currency)

BOCHK All Weather Global 28 September 2012 Class A1 (USD) Opportunities Fund 28 September 2012 Class A2 (HKD) 29 July 2014 Class A3 (AUD) 30 March 2017 Class X2 (HKD)

BOCHK All Weather China High 22 March 2013 Class A1 (RMB) Yield Bond Fund 22 March 2013 Class A2 (USD) 22 March 2013 Class A3 (HKD) 22 August 2014 Class A4 (AUD) 12 April 2016 Class A8 (USD) 30 March 2016 Class X1 (RMB)

BOCHK All Weather Hong Kong 19 July 2013 Class A1 (HKD) Equity Fund 19 July 2013 Class A2 (USD) 24 July 2014 Class A3 (AUD) 23 July 2014 Class A7 (RMB) 9 December 2014 Class X1 (HKD) 18 June 2019 Class I2 (USD) 25 November 2019 Class X2 (USD)

–22– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

1 The Fund and the Sub-Funds (Continued)

Date of commencement of Class of units in issue Sub-Funds operation (issuing currency)

BOCHK All Weather CNY Equity 5 June 2015 Class A1 (RMB) Fund 5 June 2015 Class A2 (USD) 5 June 2015 Class A3 (HKD) 2 November 2017 Class A9 (HKD)

BOCHK All Weather Asian Bond 30 August 2016 Class A1 (USD) Fund 30 August 2016 Class A2 (HKD) 30 August 2016 Class A7 (RMB) 30 June 2017 Class X1 (USD)

BOCHK All Weather Asia (ex-Japan) 24 April 2017 Class A1 (USD) Equity Fund 24 April 2017 Class A2 (HKD) 24 April 2017 Class A7 (RMB) 25 April 2017 Class X2 (HKD) 23 May 2019 Class X1 (USD) 17 October 2019 Class I1 (USD)

BOCHK All Weather China Income 8 September 2017 Class A1 (HKD) Fund 8 September 2017 Class A2 (USD) 8 September 2017 Class A8 (RMB)

BOCHK All Weather Asia Pacific 23 March 2018 Class A1 (USD) High Income Fund 23 March 2018 Class A2 (HKD) 23 March 2018 Class A4 (AUD) 23 March 2018 Class A8 (RMB)

BOCHK All Weather Short Term 3 October 2018 Class A1 (USD) Bond Fund 3 October 2018 Class A2 (HKD) 3 October 2018 Class A3 (RMB) 13 September 2018 Class I1 (USD) 13 September 2018 Class X1 (USD) 20 September 2018 Class X2 (HKD) 2 January 2020 Class C1 (USD) 30 March 2020 Class I6 (EUR)

BOCHK All Weather Belt and Road 14 March 2019 Class A1 (USD) Bond Fund 14 March 2019 Class A2 (HKD) 14 March 2019 Class A8 (RMB)

–23– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

1 The Fund and the Sub-Funds (Continued)

Date of commencement of Class of units in issue Sub-Funds operation (issuing currency)

BOCHK All Weather Greater Bay 8 April 2019 Class A1 (USD) Area Strategy Fund 8 April 2019 Class A2 (HKD) 8 April 2019 Class A3 (MOP) 8 April 2019 Class A4 (RMB) 8 April 2019 Class I1 (USD) 8 April 2019 Class A11 (RMB) 5 May 2020 Class X1 (USD)

BOCHK All Weather Asian High 29 June 2020 Class A1 (USD) Yield Bond Fund1 29 June 2020 Class A2 (HKD) 29 June 2020 Class A4 (AUD) 29 June 2020 Class A7 (GBP) 29 June 2020 Class A9 (RMB) 29 June 2020 Class A10 (EUR)

1 First financial year on 30 June 2021.

Each of the Sub-Funds is an open-ended unit trust and is authorised by the Securities and Futures Commission of Hong Kong (the “SFC”) under Section 104(1) of the Securities and Futures Ordinance (“SFO”) and is required to comply with the Code on Unit Trusts and Mutual Funds (the “SFC Code”) issued by the SFC.

2 Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below.

(a) Basis of preparation

The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (“HKFRSs”), which include all Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards (“HKASs”) and Interpretations, issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”), accounting principles generally accepted in Hong Kong, the relevant disclosure provisions of the Trust Deed and the relevant disclosure provisions of Appendix E of the SFC Code. The financial statements have been prepared under the historical cost basis, except for the financial assets and liabilities classified at fair value through profit or loss (“FVPL”) that have been measured at fair value.

The preparation of financial statements in conformity with HKFRSs requires the use of certain critical accounting estimates. It also requires the Trustee and the Manager to exercise their judgement in the process of applying the accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 3 to the financial statements.

All references to net assets throughout the financial statements refer to net assets attributable to unitholders unless otherwise stated.

–24– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

2 Summary of significant accounting policies (Continued)

(a) Basis of preparation (Continued)

Changes in accounting policies and disclosures

The Sub-Funds have adopted the new and revised HKFRSs which are effective for the first time for the current year’s financial statements. The following is relevant to the Sub-Funds:

HK(IFRIC)-Int 23 Uncertainty over Income Tax Treatments

The nature and the impact of the amendments are described below:

HK(IFRIC)-Int 23 Uncertainty over Income Tax Treatments

The interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application of HKAS 12. The interpretation does not apply to taxes or levies outside the scope of HKAS 12, nor does it specifically include requirements relating to interest and penalties associated with uncertain tax treatments. The interpretation specifically addresses the following:

• Whether the Sub-Funds consider uncertain tax treatments separately

• The assumptions the Sub-Funds make about the examination of tax treatments by taxation authorities

• How the Sub-Funds determine taxable profits (tax losses), tax bases, unused tax losses, unused tax credits and tax rates

• How the Sub-Funds consider changes in facts and circumstances

The interpretation does not have significant impact on the financial position or performance of the Sub-Funds.

Impact of issued but not yet effective HKFRSs

The Sub-Funds have not applied the following new and revised HKFRS, that has been issued but is not yet effective, in these financial statements. The following is expected to be relevant to the Fund upon effective:

Amendments to HKAS 1 and HKAS 8 Definition of Material1

1 Effective for annual periods beginning on or after 1 January 2020

–25– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

2 Summary of significant accounting policies (Continued)

(a) Basis of preparation (Continued)

Amendments to HKAS 1 and HKAS 8 provide a new definition of material. The new definition states that information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements. The amendments clarify that materiality will depend on the nature or magnitude of information. A misstatement of information is material if it could reasonably be expected to influence decisions made by the primary users. The Sub-Funds expect to adopt the amendments prospectively from 1 July 2020.

The Trustee and the Manager of the Sub-Funds anticipates that the application of this new amendment will have no material impact on the financial statements.

There are no other standards, interpretations or amendments to existing standards that are not yet effective that would be expected to have a significant impact on the Sub-Funds.

(b) Financial instruments

(i) Classification

In accordance with HKFRS 9, the Sub-Funds classify their financial assets and financial liabilities at initial recognition into the categories of financial assets and financial liabilities discussed below.

In applying that classification, a financial asset or financial liability is considered to be held for trading if:

(a) It is acquired or incurred principally for the purpose of selling or repurchasing it in the near term; or

(b) On initial recognition, it is part of a portfolio of identified financial instruments that are managed together and for which, there is evidence of a recent actual pattern of short-term profit-taking; or

(c) It is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument)

–26– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

2 Summary of significant accounting policies (Continued)

(b) Financial instruments (Continued)

(i) Classification (Continued)

Financial assets

The Sub-Funds classify their financial assets as subsequently measured at amortised cost or measured at fair value through profit or loss on the basis of both:

• The entity’s business model for managing the financial assets

• The contractual cash flow characteristics of the financial asset

Financial assets measured at amortised cost

A debt instrument is measured at amortised cost if it is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest (“SPPI”) on the principal amount outstanding. The Sub-Funds include in this short-term non-financing receivables including amounts due from brokers, dividends receivable, interest receivable, amounts receivable on subscription, cash and cash equivalents, other receivables and deposit reserve.

Financial assets measured at fair value through profit or loss

A financial asset is measured at fair value through profit or loss if:

(a) Its contractual terms do not give rise to cash flows on specified dates that are SPPI on the principal amount outstanding; or

(b) It is not held within a business model whose objective is either to collect contractual cash flows, or to both collect contractual cash flows and sell; or

(c) At initial recognition, it is irrevocably designated as measured at FVPL when doing so eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise from measuring assets or liabilities or recognising the gains and losses on them on different bases.

The Sub-Funds include in this category:

• Instruments held for trading. This category includes equity instruments and debt securities which are acquired principally for the purpose of generating a profit from short-term fluctuations in price. This category also includes derivative contracts in an asset position.

–27– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

2 Summary of significant accounting policies (Continued)

(b) Financial instruments (Continued)

(i) Classification (Continued)

Financial liabilities

Financial liabilities measured at fair value through profit or loss

A financial liability is measured at FVPL if it meets the definition of held for trading. The Sub-Funds include in this category derivative contracts in a liability position.

Financial liabilities measured at amortised cost

This category includes all financial liabilities, other than those measured at fair value through profit and loss. The Sub-Funds include in this category amount due to brokers, distribution payable, management fee payable, trustee fee payable, accrued expenses and other payables and amounts payable on redemption.

(ii) Recognition

The Sub-Funds recognise a financial asset or a financial liability when, and only when, it becomes a party to the contractual provisions of the instrument.

Purchases or sales of financial assets that require delivery of assets within the time frame generally established by regulation or convention in the marketplace (regular way trades) are recognised on the trade date, i.e., the date that the Sub-Funds commit to purchase or sell the financial asset.

(iii) Initial measurement

Financial assets and financial liabilities at FVPL are recorded in the statement of net assets at fair value. All transaction costs for such instruments are recognised directly in profit or loss.

Financial assets and financial liabilities (other than those measured at FVPL) are measured initially at their fair value plus any directly attributable incremental costs of acquisition or issue.

–28– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

2 Summary of significant accounting policies (Continued)

(b) Financial instruments (Continued)

(iv) Subsequent measurement

After initial measurement, the Sub-Funds measure financial instruments which are classified as FVPL at fair value. Subsequent changes in the fair value of those financial instruments and the interest income elements on debt securities are recorded in “Net gains or losses on financial assets and liabilities at fair value through profit or loss”. Interest earned on bank deposit and dividend income elements of such instruments are recorded separately in “Interest income” and “Dividend income” on financial assets at fair value through profit or loss respectively.

Financial assets at amortised cost are carried at amortised cost using the effective interest method less any allowance for impairment. Gains and losses are recognised in profit or loss when the loans and receivables are derecognised or impaired, as well as through the amortisation process.

Financial liabilities, other than those classified as FVPL, are measured at amortised cost using the effective interest method. Gains and losses are recognised in profit or loss when the liabilities are derecognised, as well as through the amortisation process.

The effective interest is a method of calculating the amortised cost of a financial asset or a financial liability and of allocating the interest income or interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument or, when appropriate, a shorter period to the net carrying amount of the financial asset or financial liability. When calculating the effective interest rate, the Sub-Funds estimate cash flows considering all contractual terms of the financial instruments, but do not consider expected credit losses (“ECLs”). The calculation includes all fees paid or received between parties to the contract that are an integral part of the effective interest rate, transaction costs and all other premiums or discounts.

(v) Derecognition

A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is derecognised where:

• The rights to receive cash flows from the asset have expired; or

• The Sub-Funds have transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a pass through arrangement; and either (a) the Sub-Funds have transferred substantially all the risks and rewards of the asset, or (b) the Sub-Funds have neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

–29– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

2 Summary of significant accounting policies (Continued)

(b) Financial instruments (Continued)

(v) Derecognition (Continued)

When the Sub-Funds have transferred their rights to receive cash flows from an asset (or has entered into a pass-through arrangement), and have neither transferred nor retained substantially all of the risks and rewards of the asset nor transferred control of the asset, the asset is recognised to the extent of the Sub-Funds’ continuing involvement in the asset. In that case, the Sub-Funds also recognise an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Sub-Funds have retained.

The Sub-Funds derecognise a financial liability when the obligation under the liability is discharged, cancelled, or expired.

The Sub-Funds recognise an allowance for ECLs for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Sub-Funds expect to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

General approach

ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL).

At each reporting date, the Sub-Funds assess whether the credit risk on a financial instrument has increased significantly since initial recognition. When making the assessment, the Sub-Funds compare the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition and considers reasonable and supportable information that is available without undue cost or effort, including historical and forward-looking information.

The Sub-Funds may consider a financial asset to be in default when internal or external information indicates that the Sub-Fund are unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Sub-Funds. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.

–30– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

2 Summary of significant accounting policies (Continued)

(d) Income

Dividend income from financial assets at fair value through profit or loss is recognised in profit or loss when the Sub-Funds’ right to receive payments is established.

Interest income on bank deposits is recognised on a time proportionate basis using the effective interest method in profit or loss.

Other income is recognised on an accrual basis in profit or loss.

(e) Expenses

Expenses are recognised on an accrual basis in profit or loss.

(f) Foreign currency translation

(i) Functional and presentation currency

Items included in the Sub-Funds’ financial statements are measured using the currency of the primary economic environment in which the Sub-Funds operate (the functional currency). The Manager considers the currency that most faithfully represents the economic effects of the underlying transactions, events and conditions is the currency used in issues and redemptions of units, performance measurement and reporting to the unitholders, as well as settlement of the majority of fees and expenses are the United States dollars (“USD”) for BOCHK All Weather Global Opportunities Fund, BOCHK All Weather Asian Bond Fund, BOCHK All Weather Asia (ex-Japan) Equity Fund, BOCHK All Weather Asia Pacific High Income Fund, BOCHK All Weather Short Term Bond Fund, BOCHK All Weather Belt and Road Bond Fund and BOCHK All Weather Greater Bay Area Strategy Fund, Renminbi (“RMB”) for BOCHK All Weather China High Yield Bond Fund and BOCHK All Weather CNY Equity Fund, and Hong Kong Dollars (“HKD”) for BOCHK All Weather Hong Kong Equity Fund and BOCHK All Weather China Income Fund.

The Sub-Funds have adopted the functional currency as the presentation currency and the financial statements are presented in the respective functional currencies.

(ii) Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign currency assets and liabilities are translated into the functional currency using the exchange rate prevailing at the period end date.

Foreign exchange gains and losses arising from translation are included in profit or loss.

Foreign exchange gains and losses relating to cash and cash equivalents are presented in the statements of profit or loss and other comprehensive income within “Net exchange gains or losses”.

Foreign exchange gains and losses relating to financial assets and liabilities carried at fair value through profit or loss are presented in the statements of profit or loss and other comprehensive income within “Net gains or losses on financial assets and liabilities at fair value through profit or loss”.

–31– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

2 Summary of significant accounting policies (Continued)

(g) Offsetting financial instruments

Financial assets and liabilities are offset and the net amount reported in the statements of net assets when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis, or realise the asset and settle the liability simultaneously.

(h) Cash and cash equivalents

For the purpose of the statement of cash flows, cash and cash equivalents include cash on hand, deposits held at call with banks, and other short term highly liquid investments with original maturity of three months or less when acquired, less bank overdrafts.

(i) Redeemable units

The Sub-Funds issue redeemable units, which are redeemable at the unitholder’s option and are classified as financial liabilities in accordance with HKAS 32 (amendment) Financial Instruments: Presentation. Units can be redeemed by the unitholders at any time, subject to redemption terms, for cash equal to a proportion of the net asset value of the Sub-Funds.

Redeemable units are issued and redeemed at the holder’s option at prices based on the Sub-Funds’ net asset value per unit at the time of issue or redemption. The Sub-Funds’ net asset value per unit is calculated by dividing the net assets attributable to the unitholders of each class with the total number of outstanding units for respective class.

Redeemable units are carried at the redemption amounts that are payable at the reporting date if the holder exercises his rights to redeem the units.

(j) Proceeds and payments on issue and redemption of units

The net asset value of the Sub-Funds is computed daily. Prices for issues and redemptions are based on the latest available valuation. Proceeds and payments for units issued and redeemed are shown in the statements of changes in net assets attributable to unitholders.

(k) Preliminary expenses

Preliminary expenses are expensed as incurred.

(l) Related parties

A party is considered to be related to the Sub-Funds if:

(i) the party is a person or a close member of that person’s family and that person

• has control or joint control over the Sub-Funds;

• has significant influence over the Sub-Funds; or

• is a member of the key management personnel of the Sub-Funds or of a parent of the Sub-Funds;

–32– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

2 Summary of significant accounting policies (Continued)

(l) Related parties (Continued)

(ii) the party is an entity where any of the following conditions applies:

• the entity and the Sub-Funds are members of the same group;

• one entity is an associate or related party of the other entity (or of a parent, subsidiary or related party of the other entity);

• the entity and the Sub-Funds are related parties of the same third party;

• one entity is a related party of a third entity and the other entity is an associate of the third entity;

• the entity is a post-employment benefit plan for the benefit of employees of either the Sub-Funds or an entity related to the Sub-Funds;

• the entity is controlled or jointly controlled by a person identified in (a);

• a person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity); and

• the entity, or any member of a Sub-Funds of which it is a part, provides key management personnel services to the Sub-Funds or to the parent of the Sub-Funds.

(m) Amounts due from/to brokers

Amounts due from brokers includes margin accounts and receivable for securities sold (in a regular way transaction) that have been contracted for but not yet delivered on the reporting date.

Amounts due to brokers includes payables for securities purchased (in a regular way transaction) that have been contracted for, but not yet delivered, on the reporting date.

(n) Distribution to unitholders

Distributions are recognised as a liability when they are approved by the Manager. Distributions are at the discretion of the Sub-Funds. A distribution to the Sub-Funds’ unitholders is accounted for as a deduction from net assets attributable to unitholders. Proposed distributions are disclosed in the notes to the financial statements.

–33– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

2 Summary of significant accounting policies (Continued)

(o) Taxes

In some jurisdiction, dividend income, interest income and capital gains are subject to withholding tax deducted at the source of the income. The Sub-Funds present the withholding tax separately from the gross investment income in the statements of profit or loss and other comprehensive income. For the purpose of the statements of cash flows, cash inflows from investments are presented net of withholding taxes, when applicable.

(p) Structured entities

A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are directed by means of contractual arrangements. A structured entity often has some or all of the following features or attributes; (a) restricted activities, (b) a narrow and well-defined objective, such as to provide investment opportunities for investors by passing on risks and rewards associated with the assets of the structured entity to investors, (c) insufficient equity to permit the structured entity to finance its activities without subordinated financial support and (d) financing in the form of multiple contractually linked instruments to investors that create concentrations of credit or other risks (tranches).

The Sub-Funds consider all of their investments in the Sub-Fund (the “Investee Funds”) to be investments in unconsolidated structured entities. The Sub-Funds invest in the Investee Fund whose objective is to achieve medium to long term capital growth and whose investment strategy does not include the use of leverage. The Investee Fund is managed by the same asset manager and applies various investment strategies to accomplish its respective investment objective. The Investee Fund finances its operations by issuing redeemable units which are puttable at the holder’s option and entitles the holder to a proportional stake in the respective fund’s net assets. The Sub-Funds’ interests in the Investee Fund are the fair value of the investment in such Investee Fund as at the end of reporting date and the related net gains/(losses) recognised in profit or loss during the year.

Details of Sub-Funds’ interests in the Investee Fund are disclosed in Note 12(f) to the financial statements.

–34– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

3 Critical accounting estimate and judgements

(a) Critical accounting estimates and assumptions

The Manager makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. Estimates are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Moreover, the Sub-Funds may from time to time hold financial instruments that are not quoted in active markets, such as unquoted securities. Fair values of such instruments are determined by using valuation techniques. Fair value estimates are based on market conditions and information about the financial instruments. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are outlined below.

Fair value of investments

The Sub-Funds hold a number of unlisted debt securities that are valued by reference to broker quotes. In determining the fair value of such investments, the Manager exercises judgements and estimates on the sources of brokers and the quantity and quality of quotes used. Such quotes adopted to fair value the investments may be indicative and not executable or legally binding. As such, broker quotes do not necessarily indicate the price at which the security could actually be traded as of the end of the reporting period. Actual transacted prices may differ from the quotes provided by the brokers. The Manager considers that in the absence of any other reliable market sources, the broker quotes available to them reflect the best estimate of fair value.

(b) Critical judgements

In preparing these financial statements, the Manager has made certain judgements which are dependent on what might happen in the future. The judgements made by the Manager may not equal the related actual results. The judgement made for Sub-Funds are outlined below and in Note 5 to the financial statements.

Investments suspended as at the end of the reporting period

If there are listed equities which are suspended from trading as at the end of the reporting period, the Manager exercises judgements on the investments’ fair value measurement and fair value hierarchy. In the absence of any other reliable market sources, the Manager applied market approach in which they used the last trade price before the suspension of trading. Adjustments were made by reference to the return of the relevant industry index. Suspended investments with no adjustments made would be categorised as Level 2 to the extent that the significant inputs are observable. Suspended investments with adjustments made would be categorised as Level 3 when the adjustment becomes a significant unobservable input.

As at 30 June 2020 and 30 June 2019, the Sub-Funds did not hold any listed equities which are suspended from trading.

–35– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

3 Critical accounting estimate and judgements (Continued)

(b) Critical judgements (Continued)

Assessment of Investee Funds as structured entities

The Sub-Funds have assessed whether its Investee Funds should be classified as structured entities. The Sub-Funds have considered the voting rights and other similar rights afforded to investors in these funds, including the rights to remove the fund manager or redeem holdings. The Sub-Funds have concluded on whether these rights are the dominant factor in controlling the funds, or whether the contractual agreement with the fund manager is the dominant factor in controlling these funds.

The Sub-Funds have concluded that all of its Investee Funds managed by the Manager are structured entities as disclosed in Note 2(p) to the financial statements.

4 Fees

(a) Management fee

The Manager is entitled to receive a management fee for each Sub-Fund calculated as a percentage of the net asset value of their relevant class of units. The management fee is deducted from the assets of the relevant Sub-Funds. The current rates of management fee for the year/period ended 30 June 2020 and 2019 are as follows:

Sub-Funds Rate of management fee (p.a.) Class Class Class Class Class Class Class Class Class Class Class Class Class Class A1 A2 A3 A4 A7 A8 A9 A11 C1 X1 X2 I1 I2 I6 Units Units Units Units Units Units Units Units Units Units Units Units Units Units

BOCHK All Weather Global Opportunities Fund 1.250% 1.250% 1.250% N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 N/A2 N/A1 N/A1 N/A1 BOCHK All Weather China High Yield Bond Fund 1.250% 1.250% 1.250% 1.250% N/A1 1.250% N/A1 N/A1 N/A1 N/A2 N/A1 N/A1 N/A1 N/A1 BOCHK All Weather Hong Kong Equity Fund 1.250% 1.250% 1.250% N/A1 1.250% N/A1 N/A1 N/A1 N/A1 N/A2 N/A2 N/A1 0.875% N/A1 BOCHK All Weather CNY Equity Fund 1.750% 1.750% 1.750% N/A1 N/A1 N/A1 1.750% N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 BOCHK All Weather Asian Bond Fund 1.000% 1.000% N/A1 N/A1 1.000% N/A1 N/A1 N/A1 N/A1 N/A2 N/A1 N/A1 N/A1 N/A1 BOCHK All Weather Asia (ex-Japan) Equity Fund 1.500% 1.500% N/A1 N/A1 1.500% N/A1 N/A1 N/A1 N/A1 N/A2 N/A2 1.05% N/A1 N/A1 BOCHK All Weather China Income Fund 1.500% 1.500% N/A1 N/A1 N/A1 1.500% N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 BOCHK All Weather Asia Pacific High Income Fund 1.500% 1.500% N/A1 1.500% N/A1 1.500% N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 BOCHK All Weather Short Term Bond Fund 0.300% 0.300% 0.300% N/A1 N/A1 N/A1 N/A1 N/A1 0.300% N/A2 N/A2 0.200% N/A1 0.200% BOCHK All Weather Belt and Road Bond Fund 1.000% 1.000% N/A1 N/A1 N/A1 1.000% N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 N/A1 BOCHK All Weather Greater Bay Area Strategy Fund 1.000% 1.000% 1.000% 1.000% N/A1 N/A1 N/A1 1.000% N/A1 N/A2 N/A1 0.700% N/A1 N/A1

1 These classes of units were not in issue as at 30 June 2020 and 2019. 2 Class X units are not subject to management fee.

The management fee is calculated and accrued on each dealing day and are paid monthly in arrears.

–36– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

4 Fees (Continued)

(b) Trustee fee

The Trustee is entitled to receive an inception fee in each Sub-Fund’s first accounting period. The inception fees are recorded as preliminary expenses in the first accounting period of the Sub-Funds. Inception fee of USD2,500 (equivalents to HKD20,000 and RMB15,000) was charged by the Trustee on each Sub-Fund in its respective first accounting period.

The Trustee is entitled to the following trustee fee in respect of each Sub-Fund. The current levels of the trustee for the year/period ended 30 June 2020 and 2019 fee are set out below:

Sub-Funds Rate of Trustee Fee (p.a.)

BOCHK All Weather Global 0.125% on the first USD25 million of the net asset value of class each Opportunities Fund, of the Sub-Fund; BOCHK All Weather Asian 0.10% on the next USD25 million of the net asset value of each Bond Fund, BOCHK All class of the Sub-Fund; Weather Asia (ex-Japan) 0.0875% on the remaining balance of the net asset value of each Equity Fund, BOCHK All class of the Sub-Fund; Weather Asia Pacific High Subject to a minimum monthly fee of USD2,500. Income Fund, BOCHK All Weather Belt and Road Bond Fund, and BOCHK All Weather Greater Bay Area Strategy Fund

BOCHK All Weather Short 0.075% of the net asset value of each class of the Sub-Fund; Term Bond Fund Subject to a minimum monthly fee of USD2,500.

BOCHK All Weather China 0.125% on the first RMB200 million of the net asset value of High Yield Bond Fund each class of the Sub-Fund; 0.10% on the next RMB200 million of the net asset value of each class of the Sub-Fund; 0.0875% on the remaining balance of the net asset value of each class of the Sub-Fund; Subject to a minimum monthly fee of RMB15,000.

BOCHK All Weather CNY 0.125% on the first RMB200 million of the net asset value of Equity Fund each class of the Sub-Fund; 0.10% on the next RMB200 million of the net asset value of each class of the Sub-Fund; 0.0875% on the remaining balance of the net asset value of each class of the Sub-Fund; Subject to a minimum monthly fee of RMB20,000.

–37– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

4 Fees (Continued)

(b) Trustee fee (Continued)

Sub-Funds Rate of Trustee Fee (p.a.)

BOCHK All Weather Hong 0.125% on the first HKD200 million of the net asset value of Kong Equity Fund and each class of the Sub-Fund; BOCHK All Weather China 0.10% on the next HKD200 million of the net asset value of each Income Fund class of the Sub-Fund; 0.0875% on the remaining balance of the net asset value of each class of the Sub-Fund; Subject to a minimum monthly fee of HKD20,000.

The trustee fee is calculated and accrued on each dealing day and is paid monthly in arrears.

5 Taxation

Hong Kong

No provision for Hong Kong profits tax has been made as the Sub-Funds were authorised as collective investment schemes under Section 104 of the SFO and are therefore exempted from profits tax under Section 26A(1A) of the Hong Kong Inland Revenue Ordinance.

People’s Republic of China (“PRC”)

The Sub-Funds invest directly in China A-Shares listed in the PRC through the Manager’s Renminbi Qualified Foreign Institutional Investor (“RQFII”) quota and China H-shares listed in Hong Kong.

PRC withholding tax on capital gains

It is the intention of the Manager to operate the affairs of the Manager and the Sub-Funds such that they are not tax resident enterprises of the PRC and have no establishment or place of business for Corporate Income Tax (“CIT”) purposes, although this is not guaranteed. As such, it is expected that the Sub-Funds should not be subject to CIT on an assessment basis and would only be subject to PRC withholding tax to the extent the Sub-Funds directly derives PRC sourced income in respect of its investments in PRC.

The Ministry of Finance of the PRC (“MOF”), the State Administration of Taxation of the PRC (“STA”) and the China Securities Regulatory Commission (“CSRC”) jointly issued “Caishui [2014] No. 79 – The Notice on the issues of temporary exemption from the imposition of corporate income tax arising from gains from the transfer of equity investment assets such as PRC domestic stocks by qualified foreign institutional investors (“QFIIs”) and RQFII (“Circular 79”)”. Under Circular 79, the capital gains realised by the QFIIs and the RQFIIs from the disposal of equity investments are temporarily exempt from PRC withholding tax effective from 17 November 2014.

With the temporary exemption in Circular 79, the Sub-Funds ceased withholding tax provisioning for capital gains made on China A-Shares direct investments through RQFII quotas from 17 November 2014 onwards.

–38– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

5 Taxation (Continued)

People’s Republic of China (“PRC”) (Continued)

PRC withholding tax on capital gains (Continued)

The MOF, STA and CSRC have also jointly issued a circular concerning the tax treatment for the Shanghai-Hong Kong Stock Connect (Caishui [2014] No. 81 – The Circular Concerning the Tax Treatment for the Pilot Programme of the Shanghai-Hong Kong Stock Connect (“Circular 81”) which states that corporate income tax, individual income tax and business tax are temporarily exempt on gains derived by Hong Kong and overseas investors, including the Sub-Funds, on the trading of China A-Shares through the Shanghai-Hong Kong Stock Connect. Separately, the MOF, STA and CSRC have jointly issued a circular concerning the tax treatment for the Shenzhen-Hong Kong Stock Connect (Caishui [2016] No. 127 – The Circular Concerning the Tax Treatment for the Pilot Programme of the Shenzhen-Hong Kong Stock Connect (“Circular 127”) which states that corporate income tax and individual income tax are temporarily exempt on gains derived by Hong Kong and overseas investors, including the Sub-Funds, on the trading of China A-Shares through the Shenzhen-Hong Kong Stock Connect.

Given that the Sub-Funds started to invest in China A-Shares after 17 November 2014 through the Stock Connects, the Sub-Funds are temporarily exempt from Mainland China withholding tax on the capital gains derived from investments in China A-Shares according to Circular 81 and Circular 127 and no Mainland China withholding tax provision was made on the gross realised and unrealised capital gains derived by the Sub-Funds from investments in China A-Shares through the Stock Connects.

PRC withholding tax on interests/dividends

The Sub-Funds are subjected to withholding tax on dividend income derived from investments in China A-Shares and H-Shares. The withholding tax on these investment income is included in “Withholding tax” in the statements of profit or loss and other comprehensive income of the Sub-Funds.

On 22 November 2018, the Ministry of Finance and the State Administration of Taxation of the PRC jointly issued “Circular on the Corporate Income Tax and Value-Added Tax (“VAT”) Policy for Foreign Institutions to Invest in the Onshore Bond Market” (Caishui [2018] No.108) (“Circular 108”). Pursuant to Circular 108, bond interest income derived by foreign institutions from investing in the onshore bond market is temporarily exempted from withholding tax and VAT for the period from 7 November 2018 to 6 November 2021.

–39– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

6 Financial assets and liabilities at fair value through profit or loss

BOCHK All Weather BOCHK All Weather BOCHK All Weather Global Opportunities Fund China High Yield Bond Fund Hong Kong Equity Fund 2020 2019 2020 2019 2020 2019 USD USD RMB RMB HKD HKD

Financial assets at fair value through profit or loss Collective investment schemes 2,355,778 2,497,463 7,413,405 7,618,565 10,917,248 12,587,996 Derivatives (Note 7) 6 113 1,062,878 5,922,942 137,966 27,559 Listed equity securities 321,656 275,380 – – 193,966,200 187,455,670 Depository receipts 129,420 101,670–––10,588,185 Quoted debt securities 3,907,257 3,281,489 1,382,051,685 1,814,380,756 – – Total financial assets at fair value through profit or loss 6,714,117 6,156,115 1,390,527,968 1,827,922,263 205,021,414 210,659,410 Financial liabilities at fair value through profit or loss Derivatives (Note 7) – – 182,003 438,158 – – Total financial liabilities at fair value through profit or loss – – 182,003 438,158 – – Net gains/(losses) on financial assets and liabilities at fair value through profit or loss Realised 59,638 (165,379) 111,361,272 191,466,695 6,275,426 (48,935,957) Unrealised 333,125 469,185 (59,199,398) 70,999,822 (11,863,029) 14,501,352 Net gains/(losses) 392,763 303,806 52,161,874 262,466,517 (5,587,603) (34,434,605)

–40– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

6 Financial assets and liabilities at fair value through profit or loss (Continued)

BOCHK All Weather BOCHK All Weather BOCHK All Weather CNY Equity Fund Asian Bond Fund Asia (ex-Japan) Equity Fund 2020 2019 2020 2019 2020 2019 RMB RMB USD USD USD USD

Financial assets at fair value through profit or loss Collective investment schemes – – 4,209,006 – 1,084,153 928,410 Derivatives (Note 7) – – 13,397 14,501 437 2,805 Listed equity securities 262,334,740 262,035,487 – – 4,339,110 3,660,219 Depositary receipts ––––1,116,479 760,787 Quoted debt securities – – 162,682,171 49,469,583 – – Total financial assets at fair value through profit or loss 262,334,740 262,035,487 166,904,574 49,484,084 6,540,179 5,352,221

Financial liabilities at fair value through profit or loss Derivatives (Note 7) 26,814 20,825–––– Total financial liabilities at fair value through profit or loss 26,814 20,825––––

Net gains/(losses) on financial assets and liabilities at fair value through profit or loss Realised 36,019,171 (40,371,664) 1,271,510 2,054,570 91,163 (230,776) Unrealised 58,909,820 45,902,513 2,370,681 2,939,081 73,005 (166,951) Net gains/(losses) 94,928,991 5,530,849 3,642,191 4,993,651 164,168 (397,727)

–41– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

6 Financial assets and liabilities at fair value through profit or loss (Continued)

BOCHK All Weather BOCHK All Weather Asia Pacific BOCHK All Weather China Income Fund High Income Fund Short Term Bond Fund 2020 2019 2020 2019 2020 2019 HKD HKD USD USD USD USD

Financial assets at fair value through profit or loss Collective investment schemes 8,203,511 11,375,700 864,601 1,007,133 9,683,425 – Derivatives (Note 7) 31,896 116,736 1,897 10,420 339,245 1,339 Listed equity securities 51,142,797 101,493,290 4,955,430 8,095,943 – – Depositary receipts – – 429,466 837,946 – – Quoted debt securities 62,485,721 93,453,539 5,643,259 6,107,442 167,728,875 62,840,350 Total financial assets at fair value through profit or loss 121,863,925 206,439,265 11,894,653 16,058,884 177,751,545 62,841,689

Financial liabilities at fair value through profit or loss Derivatives (Note 7) ––––1,033,320 78,382 Total financial liabilities at fair value through profit or loss ––––1,033,320 78,382

Net gains/(losses) on financial assets and liabilities at fair value through profit or loss Realised (5,829,613) (7,891,624) 569,332 (1,754,936) 2,802,314 825,751 Unrealised (11,328,555) 7,941,259 (1,060,350) 1,858,041 2,701,005 488,341 Net gains/(losses) (17,158,168) 49,635 (491,018) 103,105 5,503,319 1,314,092

–42– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

6 Financial assets and liabilities at fair value through profit or loss (Continued)

BOCHK All Weather Greater Bay BOCHK All Weather Area Strategy Belt and Road Bond Fund fund 2020 2019 2020 USD USD USD

Financial assets at fair value through profit or loss Collective investment schemes 927,464 622,689 1,874,857 Derivatives (Note 7) 3,412 16,100 12,292 Listed equity securities 1,179,978 – – Depositary receipts – – – Quoted debt securities 19,828,725 25,657,781 182,433,214 Total financial assets at fair value through profit or loss 21,939,579 26,296,570 184,320,363

Net gains/(losses) on financial assets and liabilities at fair value through profit or loss Realised 1,424,115 80,095 2,101,367 Unrealised (266,144) 710,585 4,381,966 Net gains 1,157,971 790,680 6,483,333

–43– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments

The Sub-Funds may invest in derivative financial instruments for investment or hedging purposes according to its respective investment strategy as stated in the Explanatory Memorandum. As at the end of the reporting period, the Sub-Funds held the following derivatives:

BOCHK All Weather BOCHK All Weather BOCHK All Weather Global Opportunities Fund China High Yield Bond Fund Hong Kong Equity Fund 2020 2019 2020 2019 2020 2019 USD USD RMB RMB HKD HKD

Financial assets Foreign currency forward contracts 6 113 1,062,878 5,922,942 137,966 27,559

Financial liabilities Foreign currency forward contracts – – 182,003 438,158 – –

BOCHK All Weather BOCHK All Weather BOCHK All Weather CNY Equity Fund Asian Bond Fund Asia (ex-Japan) Equity Fund 2020 2019 2020 2019 2020 2019 RMB RMB USD USD USD USD

Financial assets Foreign currency forward contracts – – 13,397 14,501 437 2,805

Financial liabilities Foreign currency forward contracts 26,814 20,825––––

BOCHK All Weather BOCHK All Weather Asia Pacific BOCHK All Weather China Income Fund High Income Fund Short Term Bond Fund 2020 2019 2020 2019 2020 2019 HKD HKD USD USD USD USD

Financial assets Foreign currency forward contracts 31,896 116,736 1,897 10,420 339,245 1,339

Financial liabilities Foreign currency forward contracts ––––1,033,320 78,382

–44– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

BOCHK All Weather Greater Bay BOCHK All Weather Area Strategy Belt and Road Bond Fund Fund 2020 2019 2020 USD USD USD

Financial assets Foreign currency forward contracts 3,412 16,100 12,292

Foreign currency forward contracts

Foreign currency forward contracts are contractual obligations to buy or sell foreign currencies at a specified rate on a specified date established in over-the-counter markets.

BOCHK All Weather Global Opportunities Fund

The details of outstanding foreign currency forward contracts as at the end of the reporting period were as follows:

Fair value Notional amount Assets Liabilities USD USD

30 June 2020 Long AUD AUD13,149 6 –

30 June 2019 Long AUD AUD21,296 113 –

–45– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Foreign currency forward contracts (Continued)

BOCHK All Weather China High Yield Bond Fund

The details of outstanding foreign currency forward contracts as at the end of the reporting period were as follows:

Fair value Notional amount Assets Liabilities RMB RMB

30 June 2020 Short USD USD194,547,606 1,062,878 – Long AUD AUD3,630,232 – 14,973 Long USD USD30,569,601 – 167,030 1,062,878 182,003

30 June 2019 Short USD USD3,628,342 79,258 – Short USD USD49,926,344 1,088,098 – Short USD USD216,537,642 4,665,101 – Short USD USD2,617,801 20,011 – Long AUD AUD3,036,614 70,351 – Long AUD AUD70,000 123 – Long USD USD250,000 – 5,486 Long USD USD19,990,308 – 432,672 5,922,942 438,158

–46– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Foreign currency forward contracts (Continued)

BOCHK All Weather Hong Kong Equity Fund

The details of outstanding foreign currency forward contracts as at the end of the reporting period were as follows:

Fair value Notional amount Assets Liabilities HKD HKD

30 June 2020 Long AUD AUD296,871 136,735 – Long RMB RMB1,800,686 1,231 – 137,966 –

30 June 2019 Long AUD AUD397,297 17,381 – Long RMB RMB1,748,857 10,178 – 27,559 –

BOCHK All Weather CNY Equity Fund

The details of outstanding foreign currency forward contracts as at the end of the reporting period were as follows:

Fair value Notional amount Assets Liabilities RMB RMB

30 June 2020 Long HKD HKD9,665,253 – 26,814

30 June 2019 Long HKD HKD3,285,472 – 16,151 Long HKD HKD278,163 – 1,694 Long HKD HKD454,205 – 2,980 – 20,825

–47– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Foreign currency forward contracts (Continued)

BOCHK All Weather Asian Bond Fund

The details of outstanding foreign currency forward contracts as at the end of the reporting period were as follows:

Fair value Notional amount Assets Liabilities USD USD

30 June 2020 Long RMB RMB123,039,871 13,397 –

30 June 2019 Long RMB RMB31,441,019 14,380 – Long RMB RMB990,000 121 – 14,501 –

BOCHK All Weather Asia (ex-Japan) Equity Fund

The details of outstanding foreign currency forward contracts as at the end of the reporting period were as follows:

Fair value Notional amount Assets Liabilities USD USD

30 June 2020 Long RMB RMB1,799,227 437 –

30 June 2019 Long RMB RMB2,044,529 2,805 –

–48– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Foreign currency forward contracts (Continued)

BOCHK All Weather China Income Fund

The details of outstanding foreign currency forward contracts as at the end of the reporting period were as follows:

Fair value Notional amount Assets Liabilities HKD HKD

30 June 2020 Long RMB RMB19,985,447 31,896 –

30 June 2019 Long RMB RMB38,601,311 116,736 –

BOCHK All Weather Asia Pacific High Income Fund

The details of outstanding foreign currency forward contracts as at the end of the reporting period were as follows:

Fair value Notional amount Assets Liabilities USD USD

30 June 2020 Long AUD AUD946,021 420 – Long RMB RMB13,570,603 1,477 – 1,897 –

30 June 2019 Long AUD AUD812,668 4,268 – Long RMB RMB135,000 33 – Long RMB RMB16,401,712 6,119 – 10,420 –

–49– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Foreign currency forward contracts (Continued)

BOCHK All Weather Short Term Bond Fund

The details of outstanding foreign currency forward contracts as at the end of the reporting period were as follows:

Fair value Notional amount Assets Liabilities USD USD

30 June 2020 Long EUR EUR60,000,000 195,185 – Short RMB RMB32,000,000 105,001 – Short RMB RMB5,800,000 12,900 – Short EUR EUR1,328,000 12,330 – Long RMB RMB16,400,000 7,718 – Short RMB RMB25,000,000 4,773 – Long RMB RMB8,300,000 1,338 – Short EUR EUR5,165,000 – 6,340 Short EUR EUR1,900,000 – 21,800 Long RMB RMB5,724,000 – 24,434 Long EUR EUR70,000,000 – 980,746 339,245 1,033,320

30 June 2019 Long RMB RMB4,467,000 1,339 – Short RMB RMB10,010,000 – 11,306 Short RMB RMB59,375,000 – 67,076 1,339 78,382

–50– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Foreign currency forward contracts (Continued)

BOCHK All Weather Belt and Road Bond Fund

The details of outstanding foreign currency forward contracts as at the end of the reporting period were as follows:

Fair value Notional amount Assets Liabilities USD USD

30 June 2020 Long RMB RMB31,336,883 3,412 –

30 June 2019 Long RMB RMB35,200,488 16,100 –

BOCHK All Weather Greater Bay Area Strategy Fund

The details of outstanding foreign currency forward contracts as at the end of the reporting period were as follows:

Fair value Notional amount Assets Liabilities USD USD

30 June 2020 Long RMB RMB112,889,994 12,292 –

–51– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Offsetting financial instruments

As at the end of the reporting period, the financial assets and liabilities subject to offsetting, enforceable master netting arrangements and similar agreements are as follows:

BOCHK All Weather Global Opportunities Fund

Gross amount of financial assets/ Net amount Amount not offset in the Gross amount of (liabilities) offset presented in the statement of net assets2 financial assets/ in the statement statement of net Financial (liabilities) of net assets1 assets instruments Cash collateral Net exposure USD USD USD USD USD USD

30 June 2020 Assets Derivatives 6–6––6

30 June 2019 Assets Derivatives 113 – 113 – – 113

BOCHK All Weather China High Yield Bond Fund

30 June 2020 Assets Derivatives 1,062,878 – 1,062,878 (182,003) – 880,875

Liabilities Derivatives (182,003) – (182,003) 182,003 – –

30 June 2019 Assets Derivatives 5,922,942 – 5,922,942 (438,158) – 5,484,784

Liabilities Derivatives (438,158) – (438,158) 438,158 – –

–52– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Offsetting financial instruments (Continued)

BOCHK All Weather Hong Kong Equity Fund

30 June 2020 Assets Derivatives 137,966 – 137,966 – – 137,966

30 June 2019 Assets Derivatives 27,559 – 27,559 – – 27,559

BOCHK All Weather CNY Equity Fund

30 June 2020 Liabilities Derivatives (26,814) – (26,814) – – (26,814)

30 June 2019 Liabilities Derivatives (20,825) – (20,825) – – (20,825)

–53– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Offsetting financial instruments (Continued)

BOCHK All Weather Asian Bond Fund

30 June 2020 Assets Derivatives 13,397 – 13,397 – – 13,397

30 June 2019 Derivatives 14,501 – 14,501 – – 14,501

BOCHK All Weather Asia (ex-Japan) Equity Fund

30 June 2020 Assets Derivatives 437 – 437 – – 437

30 June 2019 Assets Derivatives 2,805 – 2,805 – – 2,805

–54– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Offsetting financial instruments (Continued)

BOCHK All Weather China Income Fund

30 June 2020 Assets Derivatives 31,896 – 31,896 – – 31,896

30 June 2019 Assets Derivatives 116,736 – 116,736 – – 116,736

BOCHK All Weather Asia Pacific High Income Fund

30 June 2020 Assets Derivatives 1,897 – 1,897 – – 1,897

30 June 2019 Assets Derivatives 10,420 – 10,420 – – 10,420

–55– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Offsetting financial instruments (Continued)

BOCHK All Weather Short Term Bond Fund

30 June 2020 Assets Derivatives 339,245 – 339,245 (339,245) – –

Liabilities Derivatives (1,033,320) – (1,033,320) 339,245 – (694,075)

30 June 2019 Assets Derivatives 1,339 – 1,339 (1,339) – –

Liabilities Derivatives (78,382) – (78,382) 1,339 – (77,043)

BOCHK All Weather Belt and Road Bond Fund

30 June 2020 Assets Derivatives 3,412 – 3,412 – – 3,412

30 June 2019 Assets Derivatives 16,100 – 16,100 – – 16,100

–56– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

7 Derivative financial instruments (Continued)

Offsetting financial instruments (Continued)

BOCHK All Weather Greater Bay Area Strategy Fund

30 June 2020 Assets Derivatives 12,292 – 12,292 – – 12,292

1 Include financial instruments subject to enforceable master-netting agreements that are permitted to offset under HKAS 32. 2 Include financial instruments subject to enforceable master-netting agreements that are not permitted to offset under HKAS 32 but would be eligible for offsetting to the extent of default that has occurred.

8 Balances due from/to brokers

BOCHK All Weather Global BOCHK All Weather China BOCHK All Weather Hong Opportunities Fund High Yield Bond Fund Kong Equity Fund 2020 2019 2020 2019 2020 2019 USD USD RMB RMB HKD HKD

Due from brokers Receivables for securities sold but not yet settled – 807,980 – 95,160,956 – –

Due to brokers Payables for securities purchased but not yet settled – 798,344 16,256,968 153,209,534 – –

–57– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

8 Balances due from/to brokers (Continued)

BOCHK All Weather BOCHK All Weather BOCHK All Weather Asia CNY Equity Fund Asian Bond Fund (ex-Japan) Equity Fund 2020 2019 2020 2019 2020 2019 RMB RMB USD USD USD USD

Due from brokers Receivables for securities sold but not yet settled 706,880 13,074,066 805,304 2,351,935 19,317 53,068

Due to brokers Payables for securities purchased but not yet settled 706,530 11,837,806 2,299,820 3,544,501 40,905 56,779

BOCHK All Weather BOCHK All Weather Asia BOCHK All Weather China Income Fund Pacific High Income Fund Short Term Bond Fund 2020 2019 2020 2019 2020 2019 HKD HKD USD USD USD USD

Due from brokers Receivables for securities sold but not yet settled – 11,026,378 – – 1,421,741 –

Due to brokers Payables for securities purchased but not yet settled 3,092,837 16,610,922 – 262,875 4,401,542 207,852

BOCHK All Weather Greater BOCHK All Weather Belt Bay Area Strategy and Road Bond Fund Fund 2020 2019 2020 USD USD USD

Due from brokers Receivables for securities sold but not yet settled – 2,373,628 –

Due to brokers Payables for securities purchased but not yet settled – 2,337,728 2,299,820

–58– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management

The Fund’s activities expose it to a variety of financial risks: market risk (including price risk, interest rate risk and foreign exchange risk), liquidity risk and credit and counterparty risk.

Investments of the Sub-Funds are subject to normal market fluctuations and other risks inherent in investing in securities and there can be no assurance that any appreciation in value will occur. The value of investments and the income from them fluctuate and therefore the value of the redeemable units can fall as well as rise.

The investment objectives of the Sub-Funds are listed below:

Sub-Funds Investment objectives

BOCHK All Weather Global To provide long term capital growth by investing primarily in a Opportunities Fund managed portfolio of equities, bonds, exchange traded funds, REITs, RQFII funds and other assets.

BOCHK All Weather China To generate long-term capital growth and income in RMB terms High Yield Bond Fund by investing primarily in fixed income and debt securities that are denominated in RMB or other currencies. The Sub-Fund may also invest in RMB denominated deposits.

BOCHK All Weather Hong To achieve long-term capital growth through investing primarily Kong Equity Fund in equity securities in the Hong Kong market.

BOCHK All Weather CNY To achieve long-term capital growth through primarily investing Equity Fund in China A-Shares through RQFII.

BOCHK All Weather Asian To provide income and capital growth over the medium to longer Bond Fund term by investing primarily in fixed income securities issued by any Asia Pacific governments, government agencies, supra- nationals, banks or companies which derive substantial revenue from or have significant business or economic activities in Asia Pacific or are denominated in any Asia Pacific currency.

BOCHK All Weather Asia To provide capital growth over the long term by investing (ex-Japan) Equity Fund primarily in equity securities that are listed in or that are issued by companies which derive substantial revenue from or have significant business or economic activities in Asia (excluding Japan).

–59– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

Sub-Funds Investment objectives

BOCHK All Weather China To achieve long-term capital growth over the medium and longer Income Fund term primarily through active asset allocation in a portfolio of fixed income securities and equity securities in the Mainland of China, Hong Kong and Macau markets.

BOCHK All Weather Asia To provide income and capital growth over the medium to longer Pacific High Income Fund term through active asset allocation in a portfolio of fixed income securities and equity securities which provide higher yield compared to their peers in the Asia Pacific Region.

BOCHK All Weather Short To provide income and capital growth from a managed portfolio Term Bond Fund of short duration fixed income securities.

BOCHK All Weather Belt and To provide income and capital growth over the medium to longer Road Bond Fund term by investing primarily in fixed income securities issued by governments, government agencies, supra-nationals, banks or companies which are domiciled in or derive substantial revenue from or have significant business or economic activities in the Belt and Road countries/regions (Definition please refer to the Sub-Fund’s relevant appendix and product key facts) or are denominated in the local currencies of the relevant Belt and Road countries/regions.

BOCHK All Weather Greater To provide income and capital growth over medium to longer Bay Area Strategy Fund term by investing primarily in fixed income securities issued by governments, government agencies, supra-nationals, banks or companies which are domiciled in or derive revenue from or have business or economic activities in the Special Administrative Region of Hong Kong and the Special Administrative Region of Macau and the relevant municipalities in Guangdong province in the Mainland China (“Greater Bay Area”) or are denominated in Greater Bay Area currencies (including Renminbi, Hong Kong Dollar or Macau Pataca), as well as deposits with the aforementioned banks or financial institutions.

–60– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk

Market risk is the risk of loss arising from uncertainty concerning movements in market prices and rates, including observable variables such as interest rates, credit spreads, exchange rates, and others that may be only indirectly observable such as volatilities and correlations. Derivatives in the Sub-Funds may also expose the Sub-Funds significantly to the fluctuations in the market. Market risk includes such factors as changes in economic environment, consumption pattern and investors’ expectation, etc. which may have significant impact on the value of the investments. Market movement may therefore result in substantial fluctuation in the net asset value per unit of the Sub-Funds.

(i) Price risk

The Sub-Funds’ market price risk is managed through diversification of the investment portfolio as well as investing in securities with strong fundamentals.As at the end of the reporting period, the investment portfolios of the Sub-Funds, by geographical location, were as below:

BOCHK All Weather Global Opportunities Fund

2020 2019 %ofnet %ofnet Financial assets Fair value assets Fair value assets USD USD

Collective investment schemes Hong Kong 1,059,329 14.23 1,317,441 20.50 United States 1,296,449 17.42 1,180,022 18.37 2,355,778 31.65 2,497,463 38.87

Listed equity securities Hong Kong 321,656 4.32 275,380 4.29 321,656 4.32 275,380 4.29

Quoted debt securities Australia 239,854 3.22 – – British Virgin Islands 842,126 11.32 843,860 13.14 Cayman Islands 1,232,447 16.54 1,193,888 18.56 France 387,443 5.20 212,577 3.31 Hong Kong – – 415,238 6.46 India 201,114 2.70 202,754 3.16 Indonesia 202,613 2.72 413,172 6.43 Netherlands 201,130 2.70 – – Sweden 196,185 2.63 – – United Kingdom 404,345 5.43 – – 3,907,257 52.46 3,281,489 51.06

Depository receipts United States 129,420 1.74 101,670 1.58 6,714,111 90.17 6,156,002 95.80

–61– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather China High Yield Bond Fund

2020 2019 %ofnet %ofnet Financial assets Fair value assets Fair value assets RMB RMB

Collective investment schemes Luxembourg 7,413,405 0.53 7,618,565 0.41 7,413,405 0.53 7,618,565 0.41

Quoted debt securities Australia 7,183,567 0.51 10,517,627 0.56 Bermuda 12,251,451 0.88 – – British Virgin Islands 244,529,299 17.47 314,410,908 16.82 Cayman Islands 983,049,311 70.12 1,152,257,172 61.68 China – – 6,731,763 0.36 Hong Kong 52,350,667 3.74 133,218,517 7.13 India 13,489,221 0.95 7,164,767 0.38 Indonesia 6,229,413 0.44 12,173,937 0.65 Japan – – 6,807,583 0.36 Korea – – 6,988,627 0.37 Malaysia 3,403,118 0.24 8,895,893 0.48 Mauritius 8,548,719 0.61 – – Mongolia – – 14,664,857 0.78 Philippines 1,415,551 0.10 – – Netherlands – – 12,808,096 0.69 Singapore 45,335,844 3.24 92,250,137 4.94 Sri Lanka 4,265,524 0.30 17,433,782 0.93 United Kingdom – – 18,057,090 0.97 1,382,051,685 98.60 1,814,380,756 97.10 1,389,465,090 99.13 1,821,999,321 97.51

–62– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Hong Kong Equity Fund

2020 2019 %ofnet %ofnet Financial assets Fair value assets Fair value assets HKD HKD

Collective investment schemes Hong Kong 10,917,248 5.18 12,587,996 5.26

Listed equity securities Hong Kong 193,966,200 92.01 178,820,160 74.74 United States – – 8,635,510 3.61 193,966,200 92.01 187,455,670 78.35

Depository receipts United States – – 10,588,185 4.43 204,883,448 97.19 210,631,851 88.04

BOCHK All Weather CNY Equity Fund

2020 2019 %ofnet %ofnet Fair value assets Fair value assets Financial assets RMB RMB

Listed equity securities China 262,334,740 98.33 262,035,487 98.51

–63– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Asian Bond Fund

2020 2019 %ofnet %ofnet Financial assets Fair value assets Fair value assets USD USD

Collective investment schemes Australia 1,184,120 0.69 – – Hong Kong 3,024,886 1.76 – – 4,209,006 2.45 – –

Quoted debt securities Australia 3,657,837 2.12 1,355,022 2.59 Bermuda 1,779,016 1.04 209,486 0.40 British Virgin Islands 30,559,667 17.74 8,665,477 16.54 Canada 172,405 0.10 174,797 0.33 Cayman 61,721,909 35.85 14,629,363 27.93 China 5,013,876 2.91 2,378,340 4.55 France 1,558,588 0.91 1,335,104 2.56 Hong Kong 11,328,710 6.57 3,252,636 6.22 India 5,835,594 3.39 1,018,486 1.95 Indonesia 10,326,600 6.00 4,622,488 8.83 Isle of Man 308,392 0.18 314,815 0.60 Japan 3,010,042 1.74 205,280 0.39 Korea 2,099,253 1.22 1,218,018 2.33 Macau 514,437 0.30 – – Malaysia 1,392,364 0.81 1,088,238 2.07 Mauritius 468,917 0.27 – – Mongolia 213,765 0.12 227,967 0.44 Netherlands 2,684,846 1.56 837,597 1.60 Oman 190,471 0.11 188,949 0.36 Philippines 3,350,786 1.94 1,457,382 2.79 Singapore 6,641,901 3.86 1,584,447 3.03 Spain 584,673 0.34 – – Sri Lanka 1,180,612 0.68 1,666,062 3.19 Sweden 588,554 0.34 – – Thailand 2,803,869 1.62 – – United Arab Emirates 521,495 0.30 477,437 0.91 United Kingdom 2,115,412 1.23 1,271,493 2.43 United States 1,838,000 1.07 755,309 1.45 Vietnam 220,180 0.13 535,390 1.02 162,682,171 94.45 49,469,583 94.51 166,891,177 96.90 49,469,583 94.51

–64– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Asia (ex-Japan) Equity Fund

2020 2019 %ofnet %ofnet Financial assets Fair value assets Fair value assets USD USD

Collective investment schemes Hong Kong 153,461 2.26 – – Singapore 63,687 0.94 63,611 1.17 United States 867,005 12.76 864,799 15.96 1,084,153 15.96 928,410 17.13

Listed equity securities Hong Kong 2,725,958 40.12 2,632,829 48.56 Korea 1,423,671 20.95 848,906 15.66 Singapore 189,481 2.79 178,484 3.29 4,339,110 63.86 3,660,219 67.51

Depository receipts Taiwan 340,620 5.01 247,084 4.56 United Kingdom 72,875 1.07 51,332 0.95 United States 702,984 10.35 462,371 8.52 1,116,479 16.43 760,787 14.03 6,539,742 96.25 5,349,416 98.67

–65– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather China Income Fund

2020 2019 %ofnet %ofnet Financial assets Fair value assets Fair value assets HKD HKD

Collective investment schemes Australia 2,294,381 1.79 – – Hong Kong 5,909,130 4.63 11,375,700 5.49 8,203,511 6.42 11,375,700 5.49

Listed equity securities China 1,122,770 0.88 – – Hong Kong 50,020,027 39.15 101,493,290 48.98 51,142,797 40.03 101,493,290 48.98

Quoted debt securities British Virgin Islands 27,063,717 21.18 29,312,860 14.14 Canada 371,173 0.29 379,246 0.18 Cayman 18,281,946 14.30 30,123,811 14.55 China 1,547,614 1.21 15,441,740 7.46 France 1,391,184 1.09 1,660,153 0.80 Hong Kong 3,521,260 2.75 10,099,536 4.88 India 1,499,866 1.17 3,167,301 1.53 Indonesia 1,516,065 1.19 – – Japan 1,616,339 1.26 – – Malaysia 1,463,408 1.14 1,556,943 0.75 Netherlands 1,471,190 1.15 – – Singapore 2,741,959 2.14 – – United State – – 1,711,949 0.83 62,485,721 48.87 93,453,539 45.12 121,832,029 95.32 206,322,529 99.59

–66– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Asia Pacific High Income Fund

2020 2019 %ofnet %ofnet Financial assets Fair value assets Fair value assets USD USD

Collective investment scheme Hong Kong – – 276,078 1.60 Singapore 441,365 3.53 99,157 0.58 United States 423,236 3.39 631,898 3.67 864,601 6.92 1,007,133 5.85

Listed equity securities Australia 871,720 6.98 1,075,217 6.25 China 659,820 5.28 203,090 1.18 Hong Kong 2,695,014 21.60 4,418,771 25.67 Indonesia – – 29,308 0.17 Korea – – 137,692 0.80 New Zealand – – 363,948 2.11 Singapore 594,139 4.76 979,650 5.69 Thailand – – 672,064 3.90 United States 134,737 1.08 216,205 1.26 4,955,430 39.70 8,095,943 47.03

Quoted debt securities British Virgin Islands 857,113 6.86 255,341 1.48 Cayman 2,926,820 23.44 4,040,408 23.47 France 179,496 1.44 – – Hong Kong 207,794 1.66 203,370 1.18 India 193,519 1.55 – – Indonesia 303,920 2.43 – – Malaysia 160,476 1.29 203,982 1.18 Mongolia – – 203,360 1.18 Netherlands 189,819 1.52 245,384 1.43 Singapore 427,915 3.43 955,597 5.55 United Kingdom 196,387 1.57 – – 5,643,259 45.19 6,107,442 35.47

Depository receipts Taiwan 170,310 1.36 614,969 3.57 United Kingdom 259,156 2.08 222,977 1.29 429,466 3.44 837,946 4.86 11,892,756 95.25 16,048,464 93.21

–67– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Short Term Bond Fund

2020 2019 %ofnet %ofnet Financial assets Fair value assets Fair value assets USD USD

Collective investment schemes Australia 9,683,425 3.10 – –

Quoted debt securities Bermuda 1,473,290 0.47 – – British Virgin Islands 95,114,574 30.45 10,590,639 9.81 Cayman 12,583,870 4.03 9,860,323 9.13 China 20,100,134 6.43 29,622,626 27.45 Hong Kong 37,515,716 12.00 12,766,762 11.83 Korea 941,291 0.30 – – 167,728,875 53.68 62,840,350 58.22 177,412,300 56.78 62,840,350 58.22

–68– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Belt and Road Bond Fund

2020 2019 %ofnet %ofnet Financial assets Fair value assets Fair value assets USD USD

Collective investment scheme Australia 296,030 1.30 – – Hong Kong 631,434 2.77 622,689 2.38 927,464 4.07 622,689 2.38

Listed equities China 501,958 2.20 – – Hong Kong 513,842 2.25 – – United States 164,178 0.72 – – 1,179,978 5.17 – –

Quoted debt securities Australia – – (50) (0.00) British Virgin Islands 6,250,263 27.42 7,653,875 29.20 Cayman 7,005,702 30.73 8,033,212 30.64 China 628,320 2.76 1,419,864 5.43 France 179,496 0.79 361,381 1.38 Hong Kong 931,785 4.09 1,486,417 5.67 India 786,797 3.45 1,284,233 4.90 Indonesia 1,731,706 7.60 2,692,522 10.27 Japan 208,546 0.91 – – Luxembourg – – 426,324 1.63 Malaysia 160,476 0.70 203,982 0.78 Mongolia – – 203,360 0.78 Netherlands 189,819 0.83 245,384 0.94 Philippines 203,279 0.89 299,221 1.14 Singapore 754,118 3.31 – – Sri Lanka 281,292 1.23 1,066,270 4.07 Thailand 205,070 0.90 – – United Kingdom 312,056 1.37 281,786 1.07 19,828,725 86.98 25,657,781 97.90 21,936,167 96.22 26,280,470 100.28

–69– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Greater Bay Area Strategy Fund

2020 Financial assets Fair value % of net assets USD

Collective investment scheme Hong Kong 1,874,857 1.00

Quoted debt securities Australia 2,407,162 1.29 Bermuda 3,100,925 1.66 British Virgin Islands 42,334,661 22.54 Cayman 80,088,671 42.63 China 15,316,340 8.15 France 1,054,945 0.56 Germany 590,193 0.31 Hong Kong 15,413,060 8.21 India 2,764,394 1.48 Indonesia 1,832,112 0.98 Japan 521,366 0.28 Korea 1,843,042 0.98 Luxembourg 1,079,499 0.57 Macau 514,437 0.27 Netherlands 1,954,742 1.04 Philippines 2,186,185 1.16 Singapore 4,356,478 2.32 Spain 194,891 0.10 Sri Lanka 351,615 0.19 Sweden 588,554 0.31 Thailand 2,463,012 1.31 United Kingdom 304,400 0.16 United States 1,172,530 0.62 182,433,214 97.12 184,308,071 98.12

–70– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

The following table analyses the Sub-Funds’ concentration of price risk in their investments, excluding the foreign currency forward contracts, by industrial distribution as at the end of the reporting period.

BOCHK All Weather Global Opportunities Fund

2020 2019 %of %of Financial assets net assets net assets

Collective investment schemes Financial 14.23 22.77 Others 17.42 16.10 31.65 38.87

Listed equity securities Communications 4.32 0.70 Consumer, Non-cyclical – 2.45 Utilities – 1.14 4.32 4.29

Quoted debt securities Basic Materials 2.73 – Consumer, Cyclical 2.71 3.23 Consumer, Non-cyclical 2.70 3.16 Energy 2.72 – Financial 38.90 35.07 Industrial 2.70 6.50 Technology – 3.10 52.46 51.06

Depository receipts Communication 1.74 1.58 90.17 95.80

–71– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather China High Yield Bond Fund

2020 2019 %of %of Financial assets net assets net assets

Collective investment schemes Financial 0.53 0.41

Quoted debt securities Basic Materials 2.12 1.35 Communications 1.43 0.36 Consumer, Cyclical 2.88 3.16 Consumer, Non-cyclical 0.97 2.44 Energy 6.09 4.91 Financial 82.25 77.82 Government 0.30 0.93 Industrial 0.81 1.09 Technology 0.77 4.72 Utilities 0.98 0.32 98.60 97.10 99.13 97.51

–72– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Hong Kong Equity Fund

2020 2019 %of %of Financial assets net assets net assets

Collective investment schemes Financial 5.18 5.26

Listed equity securities Communications 21.83 10.11 Consumer, Cyclical 6.54 1.86 Consumer, Non-cyclical 9.46 4.38 Energy 2.45 1.00 Financial 43.54 51.37 Industrial 6.90 4.08 Technology 1.29 2.33 Utilities – 3.22 92.01 78.35

Depository receipts Communications – 4.43 97.19 88.04

–73– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather CNY Equity Fund

2020 2019 %of %of Financial assets net assets net assets

Listed equity securities Basic Materials 2.72 1.62 Communications 8.72 4.45 Consumer, Cyclical 11.20 9.78 Consumer, Non-cyclical 38.01 25.18 Energy 1.16 4.34 Financial – 19.48 Industrial 25.86 25.13 Technology 10.66 8.53 98.33 98.51

BOCHK All Weather Asian Bond Fund

2020 2019 %of %of Financial assets net assets net assets

Collective investment schemes Financial 2.45 –

Quoted debt securities Basic Materials 5.80 4.53 Communications 2.45 3.13 Consumer, Cyclical 1.61 4.01 Consumer, Non-cyclical 2.22 2.52 Diversified 0.32 – Energy 5.44 5.98 Financial 64.22 51.61 Government 2.99 8.00 Industrial 4.37 4.16 Technology – 2.18 Utilities 5.03 8.39 94.45 94.51 96.90 94.51

–74– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Asia (ex-Japan) Equity Fund

2020 2019 %of %of Financial assets net assets net assets

Collective investment schemes Financial 15.96 17.13

Listed equity securities Basic Materials – 1.48 Communications 18.69 2.82 Consumer, Cyclical 3.00 6.35 Consumer, Non-cyclical 3.43 4.20 Diversified 0.33 – Energy 1.22 – Financial 20.56 26.37 Health Care – 1.65 Industrial 4.16 5.82 Oil & Gas – 1.51 Technology 11.65 14.13 Utilities 0.82 3.18 63.86 67.51

Depository receipts Communications 8.97 – Consumer, Cyclical – 7.37 Consumer, Non-cyclical 0.55 – Industrial 1.08 0.93 Technology 5.83 5.73 16.43 14.03 96.25 98.67

–75– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather China Income Fund

2020 2019 %of %of Financial assets net assets net assets

Collective investment schemes Financial 6.42 5.49

Listed equity securities Basic Materials 3.11 – Communications 0.71 6.65 Consumer, Cyclical 4.93 1.16 Consumer, Non-cyclical 0.48 0.23 Diversified 2.39 3.59 Energy 1.94 0.68 Financial 0.45 24.49 Industrial 22.84 5.01 Utilities 3.18 7.17 40.03 48.98

Quoted debt securities Basic Materials 3.00 2.31 Communications 1.51 3.04 Consumer, Cyclical 1.22 – Consumer, Non-cyclical – 2.94 Energy – 1.61 Financial 34.92 25.11 Industrial 6.08 6.93 Utilities 2.14 3.18 48.87 45.12 95.32 99.59

–76– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Asia Pacific High Income Fund

2020 2019 %of %of Financial assets (continued) net assets net assets

Collective investment schemes Financial 6.92 5.85

Listed equity securities Basic Materials 3.43 2.36 Communications 2.89 3.25 Consumer, Cyclical 3.07 0.37 Consumer, Non-cyclical 4.63 5.16 Diversified – 1.04 Energy 1.38 2.94 Financial 21.74 23.81 Industrial 1.37 6.31 Utilities 1.19 1.79 39.70 47.03

Quoted debt securities Consumer, Cyclical – 1.24 Consumer, Non-cyclical 2.94 1.17 Energy 5.86 3.84 Financial 36.39 29.22 45.19 35.47

Depository receipts Technology 3.44 4.86 95.25 93.21

–77– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Short Term Bond Fund

2020 2019 %of %of Financial assets net assets net assets

Collective investment schemes Financial 3.10 –

Quoted debt securities Basic Materials 5.29 – Consumer, Cyclical 8.37 1.08 Consumer, Non-cyclical 0.32 – Diversified 0.26 – Financial 33.99 45.76 Industrial 5.13 10.45 Utilities 0.32 0.93 53.68 58.22 56.78 58.22

–78– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Belt and Road Bond Fund

2020 2019 %of %of Financial assets net assets net assets

Collective investment schemes Financial 4.07 2.38

Listed equity securities Communications 0.59 – Consumer, Non-cyclical 2.78 – Financial 1.08 – Technology 0.72 – 5.17 –

Quoted debt securities Basic Materials 6.08 6.43 Communications 2.08 3.04 Consumer, Cyclical 0.89 – Consumer, Non-cyclical 3.37 2.81 Diversified 1.20 1.36 Energy 1.47 1.76 Financial 49.07 55.18 Government 3.42 9.35 Industrial 9.93 6.44 Technology – 0.95 Utilities 9.47 10.58 86.98 97.90 96.22 100.28

–79– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Greater Bay Area Strategy Fund

2020 %of Financial assets net assets

Collective investment schemes Financial 1.00

Quoted debt securities Basic Materials 4.67 Communications 3.63 Consumer, Cyclical 0.99 Consumer, Non-cyclical 1.22 Diversified 0.29 Energy 2.98 Financial 68.50 Government 0.79 Industrial 8.01 Technology 0.54 Utilities 5.50 97.12 98.12

–80– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

The following table presents the change in net asset value of the Sub-Funds due to a reasonably possible shift in market index which affects the fair value of the underlying investments in collective investment schemes, depository receipts and listed equity securities, with all other variables held constant. The Manager has used its view of what would be a reasonably possible shift in the market index to estimate the change in this sensitivity analysis. However, this does not represent a prediction of the future movement in the markets. Changes below are shown in absolute terms, the impacts could be positive or negative. Possible changes in market index are revised annually depending on the Manager’s current view of market volatility and other relevant factor.

BOCHK All Weather Global Opportunities Fund

MSCI Daily Total Return Net World USD Index ±13% ±376,865 ±9% ±475,177

BOCHK All Weather Hong Kong Equity Fund

Hang Seng Total Return Index ±20% ±33,347,499 ±18% ±13,293,529

–81– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather CNY Equity Fund

Shenzhen Stock Exchange Composite Total Return Index ±11% ±35,984,873 ±26% ±60,885,814

BOCHK All Weather Asia (ex-Japan) Equity Fund

MSCI AC Far East ex Japan Net Total Return USD Index ±20% ±1,143,457 ±20% ±946,510

BOCHK All Weather China Income Fund

Hang Seng Low Volatility Total Return Index ±11% ±6,886,050 ±6% ±9,339,890

–82– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(i) Price risk (Continued)

BOCHK All Weather Asia Pacific High Income Fund

Reasonably Estimated Reasonably Estimated possible possible possible possible shift in change in shift in change in market net asset market net asset index 2020 value 2020 index 2019 value 2019 USD USD MSCI AC Asia Pacific ex Japan High Dividend Net Return USD Index ±17% ±929,758 ±9% ±356,370

There are no equity price risk exposures for BOCHK All Weather China High Yield Bond Fund, BOCHK All Weather Asian Bond Fund, BOCHK All Weather Short Term Bond Fund, BOCHK All Weather Belt and Road Bond Fund and BOCHK All Weather Greater Bay Area Strategy Fund as the Manager considers that the equity price risk to these Sub-Funds was minimal since the majority of their investments are debt securities as at the end of the reporting period. Investments in debt securities are exposed to market price risk due to the change in interest rates which are disclosed in Note 9(a)(ii) to the financial statements on interest rate risk.

(ii) Interest rate risk

Interest rate risk arises from the effects of fluctuations in the prevailing levels of market interest rates on the fair value of interest-bearing assets and liabilities and their future cash flow. The Sub-Funds hold fixed rate debt securities that expose the Sub-Funds to fair value interest rate risk.

The Sub-Funds invest in debt securities which value is driven significantly by changes in interest rates and are subject to interest rate risk. When interest rates rise, the value of previously acquired debt securities will normally fall because new debt securities acquired will pay a higher rate of interest. In contrast, if interest rates fall, then the value of previously acquired debt securities will normally rise. The Manager will regularly assess the economic condition, monitor changes in interest rates outlook and take appropriate measures accordingly to control the impact of interest rate risk. In a rising interest rate environment, the Sub-Funds will acquire debt securities with a shorter maturity profile to minimise the negative impact to the portfolio.

–83– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(ii) Interest rate risk (Continued)

The table below summarises Sub-Funds’ investments in debt securities at fair value, categorised by the maturity dates as at the end of the reporting period.

BOCHK All Weather Global Opportunities Fund

2020 2019 USD USD

With remaining maturity dates as follows: – Less than 1 year – 515,900 – 1 to 5 years 1,031,064 1,242,012 – Over 5 years 2,876,193 1,523,577 3,907,257 3,281,489

BOCHK All Weather China High Yield Bond Fund

2020 2019 RMB RMB

With remaining maturity dates as follows: – Less than 1 year 256,501,947 275,917,149 – 1 to 5 years 938,123,587 207,912,887 – Over 5 years 187,426,151 1,330,550,720 1,382,051,685 1,814,380,756

BOCHK All Weather Asian Bond Fund

2020 2019 USD USD

With remaining maturity dates as follows: – Less than 1 year 9,641,851 1,621,333 – 1 to 5 years 66,621,120 21,659,692 – Over 5 years 86,419,200 26,188,558 162,682,171 49,469,583

–84– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(ii) Interest rate risk (Continued)

BOCHK All Weather China Income Fund

2020 2019 HKD HKD

With remaining maturity dates as follows: – Less than 1 year 5,893,845 3,199,531 – 1 to 5 years 25,756,958 46,454,670 – Over 5 years 30,834,918 43,799,338 62,485,721 93,453,539

BOCHK All Weather Asia Pacific High Income Fund

2020 2019 USD USD

With remaining maturity dates as follows: – Less than 1 year 832,330 1,588,346 – 1 to 5 years 3,280,376 4,059,087 – Over 5 years 1,530,553 460,009 5,643,259 6,107,442

BOCHK All Weather Short Term Bond Fund

2020 2019 USD USD

With remaining maturity dates as follows: – Less than 1 year 75,936,914 26,778,745 – 1 to 5 years 58,742,528 29,306,653 – Over 5 years 33,049,433 6,754,951 167,728,875 62,840,350

–85– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(ii) Interest rate risk (Continued)

BOCHK All Weather Belt and Road Bond Fund

2020 2019 USD USD

With remaining maturity dates as follows: – Less than 1 year 914,094 – – 1 to 5 years 8,187,340 16,426,158 – Over 5 years 10,727,291 9,231,623 19,828,725 25,657,781

BOCHK All Weather Greater Bay Area Strategy Fund

2020 USD

With remaining maturity dates as follows: – Less than 1 year 15,677,649 – 1 to 5 years 87,600,796 – Over 5 years 79,154,769 182,433,214

The table below presents the change in net asset value of the Sub-Funds due to a reasonably change in interest rate by 100 basis points (“b.p.”) which affects the fair value of the underlying fixed debt securities investments, with all other variables held constant. The Manager has used its view of what would be a reasonable possible shift in the interest rates to estimate the change in this sensitivity analysis. However, this does not represent a prediction of the future movement in the markets. Changes below are shown in absolute terms, the impacts could be positive or negative. Possible changes in interest rate are revised annually depending on the Manager’s current view of market volatility and other relevant factors.

Change in Impact on the Impact on the Interest rate net asset value net asset value 2020 2019

BOCHK All Weather Global Opportunities Fund ±100 b.p. ±USD489,873 ±USD173,857 BOCHK All Weather China High Yield Bond Fund ±100 b.p. ±RMB42,068,847 ±RMB48,927,383

–86– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(ii) Interest rate risk (Continued)

Change in Impact on the Impact on the Interest rate net asset value net asset value 2020 2019

BOCHK All Weather Asian Bond Fund ±100 b.p. ±USD13,222,205 ±USD3,695,173 BOCHK All Weather China Income Fund ±100 b.p. ±HKD7,442,879 ±HKD6,795,067 BOCHK All Weather Asia Pacific High Income Fund ±100 b.p. ±USD292,399 ±USD141,716 BOCHK All Weather Short Term Bond Fund ±100 b.p. ±USD8,685,390 ±USD2,721,953 BOCHK All Weather Belt and Road Bond Fund ±100 b.p. ±USD1,836,403 ±USD1,471,205 BOCHK All Weather Greater Bay Area Strategy Fund ±100 b.p. ±USD13,917,233 –

(iii) Foreign exchange risk

Foreign exchange risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates.

The Sub-Funds may invest in currencies other than their functional currencies and may be subject to exchange rate fluctuations with a potential reduction in the value of investments. Repatriation of capital invested may be hampered by changes in regulations applicable to foreign investors which may also have an adverse impact on the Sub-Funds’ performance. Also, investors who wish to receive redemption proceeds in a currency other than the functional currency of the relevant Sub-Funds will have to convert (whether through the Manager or otherwise) the proceeds to such other currency. In so doing, the investors will be subject to foreign exchange risk and the costs of currency conversion.The Sub-Funds intend to avoid investments in a foreign country where capital repatriation is required.

–87– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(iii) Foreign exchange risk (Continued)

The table below summarises the Sub-Funds’ assets and liabilities, which are exposed to foreign exchange risk as at the end of the reporting period:

BOCHK All Weather Global Opportunities Fund

2020 2019 USD USD

Monetary Australian Dollar 10,230 18,202 Euro 1 2,757 Great British Pound 271 277 Hong Kong Dollar 363,182 44,595 Japanese Yen 51 51 New Zealand Dollar 56 58 Renminbi 1 4,569 Singapore Dollar 30 31 Non-monetary Hong Kong Dollar 827,985 1,056,821

BOCHK All Weather China High Yield Bond Fund

2020 2019 RMB RMB

Monetary Australian Dollar 18,467,847 14,724,081 Hong Kong Dollar (1,484,105) 9,238,848 United States Dollar 215,679,610 119,488,632 Non-monetary United States Dollar 7,413,405 7,618,565

–88– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(iii) Foreign exchange risk (Continued)

BOCHK All Weather Hong Kong Equity Fund

2020 2019 HKD HKD

Monetary Australian Dollar 1,731,159 2,163,412 New Zealand Dollar 2 2 Renminbi 2,196,565 1,982,393 United States Dollar (213,546) 20,432,883 Non-monetary United States Dollar – 19,223,695

BOCHK All Weather CNY Equity Fund

2020 2019 RMB RMB

Monetary Hong Kong Dollar 9,488,778 4,275,168 United States Dollar 315,840 (41,988)

BOCHK All Weather Asian Bond Fund

2020 2019 USD USD

Monetary Hong Kong Dollar 582,694 2,040,303 Indian Rupee 710,498 723,625 Renminbi 17,819,314 4,836,449

–89– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(iii) Foreign exchange risk (Continued)

BOCHK All Weather Asia (ex-Japan) Equity Fund

2020 2019 USD USD

Monetary Hong Kong Dollar 196,060 77,921 Korean Republic Won (40,868) 1,888 Renminbi 257,646 299,066 Singapore Dollar 54,540 5,932 Non-monetary Hong Kong Dollar 2,879,419 2,632,829 Korean Republic Won 1,423,670 848,905 Singapore Dollar 253,168 242,095

BOCHK All Weather China Income Fund

2020 2019 HKD HKD

Monetary Australian Dollar 8,316 8,539 Renminbi 22,225,657 43,265,060 United States Dollar 67,437,886 93,449,898 Non-monetary Renminbi 1,122,770 – United States Dollar 2,294,381 –

–90– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(iii) Foreign exchange risk (Continued)

BOCHK All Weather Asia Pacific High Income Fund

2020 2019 USD USD

Monetary Australian Dollar 783,866 647,956 Hong Kong Dollar 126,055 67,375 Indian Rupee – 928 New Zealand Dollar 508 50,968 Renminbi 1,973,413 2,562,045 Singapore Dollar 82,636 41,806 Non-monetary Australian Dollar 871,719 1,075,216 Hong Kong Dollar 2,695,017 4,694,849 Indian Rupee – 29,308 Korean Republic Won – 137,692 New Zealand Dollar – 363,948 Renminbi 659,820 203,090 Singapore Dollar 1,035,504 1,078,807 Thai Baht – 672,065

BOCHK All Weather Short Term Bond Fund

2020 2019 USD USD

Monetary Hong Kong Dollar 2,093 715,886 Euro 146,984,395 – Renminbi (4,058,056) (1,674,744) Non-monetary Renminbi 4,749,592 –

–91– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(iii) Foreign exchange risk (Continued)

BOCHK All Weather Belt and Road Bond Fund

2020 2019 USD USD

Monetary Euro 2,558 – Hong Kong Dollar 6,116 (213,494) Indian Rupee 498,860 508,077 Renminbi 4,482,530 4,981,536 Non-monetary Hong Kong Dollar 1,145,278 622,689 Renminbi 501,957 –

BOCHK All Weather Greater Bay Area Strategy Fund

2020 USD

Monetary Hong Kong Dollar 280,875 Macau Pataca 336,112 Renminbi 16,432,590

–92– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(iii) Foreign exchange risk (Continued)

The table below presents the change in net asset value of the Sub-Funds due to a reasonably possible change by 5% in key exchange rates, with all other variables held constant. The Manager has used its view of what would be a reasonable possible shift in the exchange rates to estimate the change in this sensitivity analysis. However, this does not represent a prediction of the future movement in the markets. Changes below are shown in absolute terms, and the impacts could be positive or negative: Possible changes in interest rate are revised annually depending on the Manager’s current view of market volatility and other relevant factors.

BOCHK All Weather Global Opportunities Fund

Possible reasonable shift Impact on net asset value 2020 2019 USD USD +/- +/- +/-

Monetary Australian Dollar 5% 512 910 Euro 5% – 138 Great British Pound 5% 14 14 Hong Kong Dollar 5% 18,159 2,230 Japanese Yen 5% 3 3 New Zealand Dollar 5% 3 3 Renminbi 5% – 228 Singapore Dollar 5% 2 2 Non-monetary Hong Kong Dollar 5% 41,399 52,841

–93– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(iii) Foreign exchange risk (Continued)

BOCHK All Weather China High Yield Bond Fund

Possible reasonable shift Impact on net asset value 2020 2019 RMB RMB +/- +/- +/-

Monetary Australian Dollar 5% 923,392 736,204 Hong Kong Dollar 5% 74,205 461,942 United States Dollar 5% 10,783,981 5,974,432 Non-monetary United States Dollar 5% 370,670 380,928

BOCHK All Weather Hong Kong Equity Fund

Possible reasonable shift Impact on net asset value 2020 2019 HKD HKD +/- +/- +/-

Monetary Australian Dollar 5% 86,558 108,171 Renminbi 5% 109,828 99,120 United States Dollar 5% 10,677 1,021,644 Non-monetary United States Dollar 5% – 961,185

–94– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(iii) Foreign exchange risk (Continued)

BOCHK All Weather CNY Equity Fund

Possible reasonable shift Impact on net asset value 2020 2019 RMB RMB +/- +/- +/-

Monetary Hong Kong Dollar 5% 474,439 213,758 United States Dollar 5% 15,792 (2,099)

BOCHK All Weather Asian Bond Fund

Possible reasonable shift Impact on net asset value 2020 2019 USD USD +/- +/- +/-

Monetary Hong Kong Dollar 5% 29,135 102,015 Indian Rupee 5% 35,525 36,181 Renminbi 5% 890,966 241,822

–95– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(iii) Foreign exchange risk (Continued)

BOCHK All Weather Asia (ex-Japan) Equity Fund

Possible reasonable shift Impact on net asset value 2020 2019 USD USD +/- +/- +/-

Monetary Hong Kong Dollar 5% 9,803 3,896 Korean Republic Won 5% (2,043) 94 Renminbi 5% 12,882 14,953 Singapore Dollar 5% 2,727 297 Non-monetary Hong Kong Dollar 5% 143,971 131,641 Korean Republic Won 5% 71,184 42,445 Singapore Dollar 5% 12,658 12,105

BOCHK All Weather China Income Fund

Possible reasonable shift Impact on net asset value 2020 2019 HKD HKD +/- +/- +/-

Monetary Australian Dollar 5% 416 427 Renminbi 5% 1,111,283 2,163,253 United States Dollar 5% 3,371,894 4,672,495 Non-monetary Renminbi 5% 56,138 – United States Dollar 5% 114,719 –

–96– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(iii) Foreign exchange risk (Continued)

BOCHK All Weather Asia Pacific High Income Fund

Possible reasonable shift Impact on net asset value 2020 2019 USD USD +/- +/- +/-

Monetary Australian Dollar 5% 39,193 32,398 Hong Kong Dollar 5% 6,303 3,369 Indian Rupee 5% – 46 New Zealand Dollar 5% 25 2,548 Renminbi 5% 98,671 128,102 Singapore Dollar 5% 4,132 2,090 Non-monetary Australian Dollar 5% 43,586 53,761 Hong Kong Dollar 5% 134,751 234,742 Indian Rupee 5% – 1,465 Korean Republic Won 5% – 6,885 New Zealand Dollar 5% – 18,197 Renminbi 5% 32,991 10,154 Singapore Dollar 5% 51,775 53,940 Thai Baht 5% – 33,603

BOCHK All Weather Short Term Bond Fund

Possible reasonable shift Impact on net asset value 2020 2019 USD USD +/- +/- +/-

Monetary Hong Kong Dollar 5% 105 35,794 Euro 5% 7,349,220 – Renminbi 5% (202,903) (83,737) Non-monetary Renminbi 237,480 –

–97– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(a) Market risk (Continued)

(iii) Foreign exchange risk (Continued)

BOCHK All Weather Belt and Road Bond Fund

Possible reasonable shift Impact on net asset value 2020 2019 USD USD +/- +/- +/-

Monetary Euro 5% 128 – Hong Kong Dollar 5% 306 (10,675) Indian Rupee 5% 24,943 25,404 Renminbi 5% 224,127 249,077 Non-monetary Hong Kong Dollar 5% 57,264 31,134 Renminbi 5% 25,098 –

BOCHK All Weather Greater Bay Area Strategy Fund

Possible Impact on net reasonable shift asset value 2020 USD +/- +/-

Monetary Hong Kong Dollar 5% 14,044 Macau Pataca 5% 16,806 Renminbi 5% 821,630

–98– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(b) Liquidity risk

Liquidity risk is the risk that the Sub-Funds may not be able to generate sufficient cash resources to settle their obligations in full as they fall due or can only do so on terms that are materially disadvantageous.

The Sub-Funds are exposed to daily redemptions of the units by their investors. The investments should be readily disposed of to meet the redemption payments within reasonable time.

The Sub-Funds invest the majority portion of the assets in cash, equity securities and debt securities. These securities are issued or guaranteed by government or equivalent public bodies or non- government bodies or other entities and are relatively easier to liquidate. Besides, the Sub-Funds may also invest in equity securities listed in Hong Kong or other countries and such investments are also easily disposed of for cash. As at 30 June 2020 and 2019, except for dividends receivable,other receivables and deposit reserve, the assets of the Sub-Funds are realisable within 7 days.

In accordance with the Sub-Funds’ policies, the Manager monitors the Sub-Funds’ liquidity position on a daily basis. The Manager may, with the approval of the Trustee, limit the number of units of any Sub-Fund redeemed on any dealing day to 10% of the total number of units of such Sub-Fund in issue. In this event, the limitation will apply pro rata so that all unitholders of the relevant Sub-Fund wishing to redeem units in that Sub-Fund on that dealing day will redeem the same proportion of such units, and units not redeemed will be carried forward for redemption, subject to the same limitation, on the next dealing day. If requests for redemption are so carried forward, the Manager will inform the unitholders concerned. The Manager did not restrict any redemption during the years/periods ended 30 June 2020 and 2019.

All liabilities as at 30 June 2020 and 2019, comprising financial liabilities at fair value through profit or loss, amount due to brokers, distribution payable, management fee payable, trustee fee payable, accrued expenses and other payables and amounts payable on redemption of units as shown in the statements of net assets, matured within one month, based on their remaining period at the end of reporting period to the contractual maturity date. The amounts are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances, as the impact of discounting is not significant.

–99– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(b) Liquidity risk (Continued)

The table below summarises the number of unitholders who held more than 10% of the respective class of units of the Sub-Fund as at the end of the reporting period:

2020 2019 Number of Number of unitholders unitholders

BOCHK All Weather Global Opportunities Fund 5 5 BOCHK All Weather China High Yield Bond Fund 13 9 BOCHK All Weather Hong Kong Equity Fund 12 9 BOCHK All Weather CNY Equity Fund 8 3 BOCHK All Weather Asian Bond Fund 6 3 BOCHK All Weather Asia (ex-Japan) Equity Fund 10 6 BOCHK All Weather China Income Fund 5 2 BOCHK All Weather Asia Pacific High Income Fund 4 2 BOCHK All Weather Short Term Bond Fund 18 10 BOCHK All Weather Belt and Road Bond Fund 3 1 BOCHK All Weather Greater Bay Area Strategy Fund 16 –

The Sub-Funds are exposed to credit risk, which is the risk that the counterparty will be unable to pay amounts in full when they are due. If the issuer of any of the debt securities in which the Sub-Funds invested defaults, the performance of the Sub-Funds will be adversely affected.

The Sub-Funds invest in a diversified portfolio of debt securities, the selection of which is based upon fundamental research analysis, to mitigate this credit risk. The Sub-Funds limit their exposure to credit risk by transacting the majority of their securities issued by issuers with high credit ratings. The Sub-Funds invest in debt securities which have an investment grade as rated by Standard and Poor’s or Moody’s. The credit ratings are reviewed regularly by the Manager.

Financial assets subject to HKFRS 9’s impairment requirements

The Sub-Funds’ financial assets subject to the expected credit loss model within HKFRS 9 are amounts due from brokers, dividends receivable, interest receivable, amounts receivable on subscription and cash and cash equivalents. At 30 June 2020 and 2019, no loss allowance had been provided for amounts due from brokers, dividends receivable, interest receivable, amounts receivable on subscription, cash and cash equivalents, other receivables and deposit reserve. There is not considered to be any concentration of credit risk within these assets. No assets are considered impaired and no amounts have been written off in the period.

– 100 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

Financial assets subject to HKFRS 9’s impairment requirements (Continued)

At 30 June 2020 and 2019, the amounts due from brokers, dividends receivable, interest receivable, amounts receivable on subscription, cash and cash equivalents, other receivables and deposit reserve, which are all relatively short-term receivables with no financing component are impacted by the HKFRS 9 ECL model, the Sub-Funds have adopted the general approach. The loss allowance shown is measured at an amount equal to 12-month ECLs as the credit risk has not increased significantly since initial recognition.

In calculating the loss allowance, a provision matrix has been used based on historical observed loss rates over the expected life of the receivables adjusted for forward-looking estimates.

The Sub-Funds are exposed to credit risk on equity and debt securities. These classes of financial assets are not subject to HKFRS 9’s impairment requirements as they are measured at FVTPL. The carrying value of these assets, under HKFRS 9 represents the Sub-Funds’ maximum exposure to credit risk on financial instruments not subject to the HKFRS 9 impairment requirements on the respective reporting dates.

The Sub-Funds’ investments in debt securities are exposed to credit risk and the exposures are summarised below.

BOCHK All Weather Global Opportunities Fund

2020 2019 %of %of Rating USD net assets USD net assets

A1/A2 201,752 2.71 219,431 3.42 BBB1/Baa2 1,258,354 16.90 2,139,179 33.28 BB1/Ba2 1,613,769 21.67 207,275 3.23 Not rated 833,382 11.18 715,604 11.14 Total 3,907,257 52.46 3,281,489 51.06

– 101 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

BOCHK All Weather China High Yield Bond Fund

2020 2019 %of %of Rating RMB net assets RMB net assets

BBB1/Baa2 – – 31,870,708 1.71 BB1/Ba2 982,458,218 70.10 1,782,510,048 95.39 Not rated 399,593,467 28.50 – – Total 1,382,051,685 98.60 1,814,380,756 97.10

BOCHK All Weather Asian Bond Fund

2020 2019 %of %of Rating USD net assets USD net assets

AAA1/Aaa2 1,155,854 0.67 799,557 1.53 A1/A2 22,307,481 12.95 11,847,029 22.63 BBB1/Baa2 60,234,053 34.97 17,204,992 32.87 BB1/Ba2 45,733,160 26.55 13,851,430 26.46 Not rated 33,251,623 19.31 5,766,575 11.02 Total 162,682,171 94.45 49,469,583 94.51

BOCHK All Weather China Income Fund

2020 2019 %of %of Rating HKD net assets HKD net assets

A1/A2 7,512,305 5.88 43,038,694 20.78 BBB1/Baa2 19,692,393 15.40 28,083,417 13.56 BB1/Ba2 14,546,870 11.37 18,023,156 8.70 Not rated 20,734,153 16.22 4,308,273 2.08 Total 62,485,721 48.87 93,453,539 45.12

– 102 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

BOCHK All Weather Asia Pacific High Income Fund

2020 2019 %of %of Rating USD net assets USD net assets

BBB1/Baa2 303,920 2.43 221,564 1.26 BB1/Ba2 3,619,451 28.99 5,885,878 34.21 Not rated 1,719,888 13.77 – – Total 5,643,259 45.19 6,107,442 35.47

BOCHK All Weather Short Term Bond Fund

2020 2019 %of %of Rating USD net assets USD net assets

AAA1/Aaa2 389,253 0.12 7,233,200 6.70 A1/A2 29,046,152 9.30 26,374,553 24.43 BBB1/Baa2 71,221,076 22.80 27,024,131 25.04 Not rated 67,072,394 21.46 2,208,466 2.05 Total 167,728,875 53.68 62,840,350 58.22

BOCHK All Weather Belt and Road Bond Fund

2020 2019 %of %of Rating USD net assets USD net assets

A1/A2 2,996,945 13.15 6,762,733 25.81 BBB1/Baa2 6,794,492 29.80 9,116,663 34.78 BB1/Ba2 5,424,187 23.79 8,953,854 34.16 Not rated 4,613,101 20.24 824,531 3.15 Total 19,828,725 86.98 25,657,781 97.90

– 103 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

BOCHK All Weather Greater Bay Area Strategy Fund

2020 %of Rating USD net assets

AAA1/Aaa2 1,071,297 0.58 A1/A2 35,138,622 18.72 BBB1/Baa2 60,405,613 32.14 BB1/Ba2 50,465,326 26.85 Not rated 35,352,356 18.83 Total 182,433,214 97.12

1 Standard and Poor’s 2 Moody’s

For debt instruments which are unrated, the Manager adopts a research credit review process which relies on a combination of qualitative and quantitative factors. Its qualitative assessment focuses, among other factors, on management strength, market position, competitive environment, and financial flexibility. Its quantitative assessment focuses on historical operating results, calculation of various credit ratios and an expected future outlook. The objective of the credit review process is to identify securities offering relative value, including anticipation of rating actions by the major rating agencies.

Its credit research effort produces internal gradings on all unrated holdings. The analyst will determine a rating (which may differ from the ratings produced by Moody’s or Standard and Poor’s). They will then determine a trend on the rating – likely to be improving, stable or negative.

The Manager has assessed the credit quality of the debt securities based on the nature of the issuers and the historical information about the issuers’ default rates.

As at 30 June 2020 and 2019, the Manager considered that the credit quality and creditworthiness of unrated debt securities are comparable to other debt securities that the Sub-Funds held.

All transactions in listed securities are settled/paid for upon delivery using approved brokers. The risk of default is considered minimal, as delivery of securities sold is only made when the broker has received payment. Payment is only made on a purchase when the securities have been received by the broker. The trade will fail if either party fails to meet its obligation.

The Sub-Funds’ assets which are potentially subject to concentrations of counterparties risk consist principally of bank balances and investments held with Bank of China (Hong Kong) Limited and Citi N.A. Hong Kong (the “Custodians”) and the amounts due from brokers that are also the Custodians. The counterparty of the foreign forward contracts held by the Sub-Funds is the Custodians. As at 30 June 2020, the credit rating of Bank of China (Hong Kong) Limited is A (2019: A) and the credit rating of Citi N.A. Hong Kong is A (2019:A) from Standard and Poor’s.

The maximum exposure to credit risk at the end of reporting date is the carrying amount of the assets as shown in the statements of net assets. None of the assets is impaired nor past due but not impaired.

(d) Fair value estimation

The fair value of financial assets and liabilities traded in active markets (such as trading securities) are based on quoted market prices at the close of trading at the end of the reporting period.

– 104 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

An active market is a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis.

A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm’s length basis.

The fair value of financial assets that are not traded in an active market is determined by using valuation techniques. The Sub-Funds use a variety of methods and make assumptions that are based on market conditions existing at each period end date. Valuation techniques used are those commonly used by market participants, making the maximum use of market inputs and relying as little as possible on entity-specific inputs.

The carrying value less impairment provision of receivables and payables are assumed to approximate their fair values. The fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Sub-Funds for similar financial instruments.

The fair value hierarchy has the following levels:

Level 1 – based on quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date.

Level 2 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is observable, either directly or indirectly.

Level 3 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

The level in the fair value hierarchy within which the fair value measurement is categorised in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. For this purpose, the significance of an input is assessed against the fair value measurement in its entirety. If a fair value measurement uses observable inputs that require significant adjustment based on unobservable inputs, that measurement is a Level 3 measurement. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgement, considering factors specific to the asset or liability.

– 105 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

The determination of what constitutes observable requires significant judgement by the Sub-Funds. The Sub-Funds consider observable data to be such market data that is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market.

The following table analyses within the fair value hierarchy the Sub-Funds’ financial assets and liabilities (by class) measured at fair value as at the end of the reporting period.

BOCHK All Weather Global Opportunities Fund

Level 1 Level 2 Level 3 Total USD USD USD USD

30 June 2020 Financial assets Collective investment schemes 2,355,778 – – 2,355,778 Listed equity securities 321,656 – – 321,656 Foreign currency forward contracts –6–6 Quoted debt securities – 3,907,257 – 3,907,257 Depository receipts 129,420 – – 129,420 2,806,854 3,907,257 – 6,714,117

Financial liabilities Redeemable units (at trading value) – 7,445,846 – 7,445,846

30 June 2019 Financial assets Collective investment schemes 2,497,463 – – 2,497,463 Listed equity securities 275,380 – – 275,380 Foreign currency forward contracts – 113 – 113 Quoted debt securities – 3,281,489 – 3,281,489 Depository receipts 101,670 – – 101,670 2,874,513 3,281,602 – 6,156,115

Financial liabilities Redeemable units (at trading value) – 6,425,369 – 6,425,369

– 106 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

BOCHK All Weather China High Yield Bond Fund

Level 1 Level 2 Level 3 Total RMB RMB RMB RMB

30 June 2020 Financial assets Collective investment schemes – 7,413,405 – 7,413,405 Foreign currency forward contracts – 1,062,878 – 1,062,878 Quoted debt securities – 1,382,051,685 – 1,382,051,685 – 1,390,527,968 – 1,390,527,968

Financial liabilities Foreign currency forward contracts – 182,003 – 182,003 Redeemable units (at trading value) – 1,401,525,914 – 1,401,525,914 – 1,401,707,917 – 1,401,707,917

30 June 2019 Financial assets Collective investment schemes – 7,618,565 – 7,618,565 Foreign currency forward contracts – 5,922,942 – 5,922,942 Quoted debt securities – 1,814,380,756 – 1,814,380,756 – 1,827,922,263 – 1,827,922,263

Financial liabilities Foreign currency forward contracts – 438,158 – 438,158 Redeemable units (at trading value) – 1,868,670,513 – 1,868,670,513 – 1,869,108,671 – 1,869,108,671

– 107 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

BOCHK All Weather Hong Kong Equity Fund

Level 1 Level 2 Level 3 Total HKD HKD HKD HKD

30 June 2020 Financial assets Listed equity securities 193,966,200 – – 193,966,200 Collective investment schemes – 10,917,248 – 10,917,248 Foreign currency forward contracts – 137,966 – 137,966 193,966,200 11,055,214 – 205,021,414

Financial liabilities Redeemable units (at trading value) – 210,837,314 – 210,837,314 – 210,837,314 – 210,837,314

30 June 2019 Financial assets Listed equity securities 187,455,670 – – 187,455,670 Collective investment schemes – 12,587,996 – 12,587,996 Foreign currency forward contracts – 27,559 – 27,559 Depository receipts 10,588,185 – – 10,588,185 198,043,855 12,615,555 – 210,659,410

Financial liabilities Redeemable units (at trading value) – 239,227,644 – 239,227,644 – 239,227,644 – 239,227,644

– 108 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

BOCHK All Weather CNY Equity Fund

Level 1 Level 2 Level 3 Total RMB RMB RMB RMB

30 June 2020 Financial assets Listed equity securities 262,334,740 – – 262,334,740

Financial liabilities Foreign currency forward contracts – 26,814 – 26,814 Redeemable units (at trading value) – 266,796,646 – 266,796,646 – 266,823,460 – 266,823,460

30 June 2019 Financial assets Listed equity securities 262,035,487 – – 262,035,487

Financial liabilities Foreign currency forward contracts – 20,825 – 20,825 Redeemable units (at trading value) – 265,955,560 – 265,955,560 – 265,976,385 – 265,976,385

– 109 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

BOCHK All Weather Asian Bond Fund

Level 1 Level 2 Level 3 Total USD USD USD USD

30 June 2020 Financial assets Quoted debt securities – 162,682,171 – 162,682,171 Collective investment schemes – 4,209,006 – 4,209,006 Foreign currency forward contracts – 13,397 – 13,397 – 166,904,574 – 166,904,574

Financial liabilities Redeemable units (at trading value) – 172,226,464 – 172,226,464

30 June 2019 Financial assets Quoted debt securities – 49,469,583 – 49,469,583 Foreign currency forward contracts – 14,501 – 14,501 – 49,484,084 – 49,484,084

Financial liabilities Redeemable units (at trading value) – 52,339,720 – 52,339,720

–110– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

BOCHK All Weather Asia (ex-Japan) Equity Fund

Level 1 Level 2 Level 3 Total USD USD USD USD

30 June 2020 Financial assets Collective investment schemes 1,084,153 – – 1,084,153 Listed equity securities 4,339,110 – – 4,339,110 Depositary receipts 1,116,479 – – 1,116,479 Foreign currency forward contracts – 437 – 437 6,539,742 437 – 6,540,179

Financial liabilities Redeemable units (at trading value) – 6,794,406 – 6,794,406

30 June 2019 Financial assets Collective investment schemes 928,410 – – 928,410 Listed equity securities 3,660,219 – – 3,660,219 Depositary receipts 760,787 – – 760,787 Foreign currency forward contracts – 2,805 – 2,805 5,349,416 2,805 – 5,352,221

Financial liabilities Redeemable units (at trading value) – 5,421,507 – 5,421,507

– 111 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

BOCHK All Weather China Income Fund

Level 1 Level 2 Level 3 Total HKD HKD HKD HKD

30 June 2020 Financial assets Collective investment schemes 5,909,130 2,294,381 – 8,203,511 Listed equity securities 51,142,797 – – 51,142,797 Foreign currency forward contracts – 31,896 – 31,896 Quoted debt securities – 62,485,721 – 62,485,721 57,051,927 64,811,998 – 121,863,925

Financial liabilities Redeemable units (at trading value) – 127,843,805 – 127,843,805

30 June 2019 Financial assets Collective investment schemes 11,375,700 – – 11,375,700 Listed equity securities 101,493,290 – – 101,493,290 Foreign currency forward contracts – 116,736 – 116,736 Quoted debt securities – 93,453,539 – 93,453,539 112,868,990 93,570,275 – 206,439,265

Financial liabilities Redeemable units (at trading value) – 207,183,227 – 207,183,227

–112– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

BOCHK All Weather Asia Pacific High Income Fund

Level 1 Level 2 Level 3 Total USD USD USD USD

30 June 2020 Financial assets Collective investment schemes 864,601 – – 864,601 Listed equity securities 4,955,430 – – 4,955,430 Quoted debt securities – 5,643,259 – 5,643,259 Depositary receipts 429,466 – – 429,466 Foreign currency forward contracts – 1,897 – 1,897 6,249,497 5,645,156 11,894,653

Financial liabilities Redeemable units (at trading value) – 12,486,271 – 12,486,271

30 June 2019 Financial assets Collective investment schemes 1,007,133 – – 1,007,133 Listed equity securities 8,095,943 – – 8,095,943 Quoted debt securities – 6,107,442 – 6,107,442 Depositary receipts 837,946 – – 837,946 Foreign currency forward contracts – 10,420 – 10,420 9,941,022 6,117,862 – 16,058,884

Financial liabilities Redeemable units (at trading value) – 17,218,528 – 17,218,528

–113– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

BOCHK All Weather Short Term Bond Fund

Level 1 Level 2 Level 3 Total USD USD USD USD

30 June 2020 Financial assets Collective investment scheme – 9,683,425 – 9,683,425 Quoted debt securities – 167,728,875 – 167,728,875 Foreign currency forward contracts – 339,245 – 339,245 – 177,751,545 – 177,751,545

Financial liabilities Foreign currency forward contracts – 1,033,320 – 1,033,320 Redeemable units (at trading value) – 312,537,629 – 312,537,629 – 313,570,949 – 313,570,949

30 June 2019 Financial assets Quoted debt securities – 62,840,350 – 62,840,350 Foreign currency forward contracts – 1,339 – 1,339 – 62,841,689 – 62,841,689

Financial liabilities Foreign currency forward contracts – 78,382 – 78,382 Redeemable units (at trading value) – 107,958,721 – 107,958,721 – 108,037,103 – 108,037,103

–114– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

BOCHK All Weather Belt and Road Bond Fund

Level 1 Level 2 Level 3 Total USD USD USD USD

30 June 2020 Financial assets Listed equity securities 1,179,978 – – 1,179,978 Collective investment schemes – 927,464 – 927,464 Quoted debt securities – 19,828,725 – 19,828,725 Foreign currency forward contracts – 3,412 – 3,412 1,179,978 20,759,601 – 21,939,579

Financial liabilities Redeemable units (at trading value) – 22,831,409 – 22,831,409 – 22,831,409 – 22,831,409

30 June 2019 Financial assets Collective investment schemes 622,689 – – 622,689 Quoted debt securities – 25,657,781 – 25,657,781 Foreign currency forward contracts – 16,100 – 16,100 622,689 25,673,881 – 26,296,570

Financial liabilities Redeemable units (at trading value) – 26,213,865 – 26,213,865 – 26,213,865 – 26,213,865

–115– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

BOCHK All Weather Greater Bay Area Strategy Fund

Level 1 Level 2 Level 3 Total USD USD USD USD

30 June 2020 Financial assets Collective investment schemes – 1,874,857 – 1,874,857 Quoted debt securities – 182,433,214 – 182,433,214 Foreign currency forward contracts – 12,292 – 12,292 – 184,320,363 – 184,320,363

Financial liabilities Redeemable units (at trading value) – 187,891,834 – 187,891,834 – 187,891,834 – 187,891,834

Investments whose values are based on quoted market prices in active markets include listed depository receipts, listed collective investment schemes and listed equity securities. The Sub-Funds do not adjust the quoted prices for these instruments and are therefore classified within Level 1.

Financial instruments that trade in markets that are not considered to be active and are valued based on quoted market prices, dealer quotations or alternative pricing sources supported by observable inputs are classified within Level 2. These include quoted debt securities, foreign currency forward contracts and investment funds not traded publicly. As Level 2 investments include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.

Investments classified within Level 3 have significant unobservable inputs, as they trade infrequently. As observable prices are not available for these securities, the Sub-Funds have used valuation techniques to derive the fair value.

The puttable value of redeemable units is calculated based on the net difference between total assets and all other liabilities of the Sub-Funds as at the valuation days in accordance with the Sub-Funds’ Explanatory Memorandum. The units of the Sub-Funds may be issued and redeemed on any business day at the quoted price calculated by the Trustee on a daily basis. These units are not traded on an exchange. However, the price is observable and transactions with the Sub-Funds take place regularly at that price. As the Sub-Funds offer daily liquidity in its shares at the quoted price, the Manager considers that this is the price at which market participants would also transact, as a buyer or seller would not be expected to accept a price different from the quoted price. Therefore, the Manager has concluded that the most appropriate estimate of fair value of the redeemable units is their quoted price, without adjustment, at the reporting date and the redeemable units are classified as Level 2. This price is calculated by taking the net assets attributable to unitholders and dividing by the number of units in issue.

–116– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

9 Financial risk management (Continued)

(d) Fair value estimation (Continued)

The Sub-Funds’ assets and liabilities, except the financial assets and liabilities at fair value through profit or loss and net assets attributable to unitholders, are carried at amortised cost. The carrying values of these assets and liabilities disclosed in the statements of net assets are a reasonable approximation of the fair value.

Cash and cash equivalents include cash on hand, deposits held with banks and other short-term investments in an active market. Dividends receivable, interest receivable, amounts receivable on subscription and amounts due from brokers represent the contractual amounts for settlement of trades and other obligations due to the Sub-Funds. Distribution payable, amounts payable on redemption, amounts due to brokers, fee payables, accrued expenses and other payables represent the contractual amounts and obligations due by the Sub-Funds for settlement of trades and expenses.

(e) Capital risk management

The capital of the Sub-Funds is represented by the net assets attributable to unitholders. The amount of net assets attributable to unitholders can change significantly on a daily basis as the Sub-Funds are subject to daily subscriptions and redemptions at the discretion of unitholders.

The Sub-Funds’ objectives when managing capital are to safeguard their ability to continue as a going concern in order to provide returns for unitholders and benefits for other stakeholders and to maintain a strong capital base to support the investment activities of the Sub-Funds.

In order to maintain or adjust the capital structure, the Sub-Funds’ policy is to perform the following:

• monitor the level of daily subscriptions and redemptions relative to the liquid assets; and

• redeem and issue units in accordance with the Trust Deed of the Fund.

The Trustee and the Manager monitor capital on the basis of the value of net assets attributable to unitholders.

–117– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

10 Net Assets attributable to unitholders and number of units in issue

The Sub-Funds’ capitals are represented by the redeemable units in the Sub-Funds, and shown as net assets attributable to unitholders in the statements of net assets. Subscriptions and redemptions of units during the year are shown in the statements of changes in net assets attributable to unitholders. In order to achieve the investment objectives, the Sub-Funds endeavor to invest their capitals in accordance with the investment policies as outlined in Note 9 to the financial statements, whilst maintaining sufficient liquidity to meet redemption requests. Such liquidity is augmented by the holding of liquid investments.

In accordance with the provisions of Explanatory Memorandum, investments are stated at the last traded price on the valuation day for the purpose of determining net asset value per unit for issues and redemptions and for various fee calculations. Net assets attributable to unitholder represent a liability in the statements of net assets, carried at the redemption amount that would be payable at the period end date if the unitholders exercised the right to redeem the units in the Sub-Funds.

The Sub-Funds’ objectives and policies for managing its obligations to redeem units are included in Note 9(e)on capital risk management and Note 9(b) on liquidity risk.

–118– BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

10 Net Assets attributable to unitholders and number of units in issue (Continued)

The following tables summarises the number of units in issue and net assets attributable to unitholders per unit of the relevant classes in the respective Sub-Funds:

As at 30 June 2020

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather Global Opportunities FundChina High Yield Bond FundHong Kong Equity Fund CNY Equity Fund Asian Bond Fund Asia (ex-Japan) Equity Fund Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset attributable to value attributable to value attributable to value attributable to value attributable to value attributable to value unitholders per unit unitholders per unit unitholders per unit unitholders per unit unitholders per unit unitholders per unit –119–

– Class A1 units USD 1,423,661 10.76 RMB 516,358,454 9.96 HKD 114,365,311 10.48 RMB 32,282,907 10.61 USD 60,555,558 10.04 USD 366,039 10.48 – Class A2 units HKD 26,680,657 10.76 USD 10,412,769 8.68 USD 3,089,116 10.49 USD 10,366,902 9.32 HKD 411,870,824 10.03 HKD 9,633,985 10.44 – Class A3 units AUD 14,770 15.02 HKD 325,497,232 8.68 AUD 403,847 10.63 HKD 161,638,116 9.32 – – – – – – – Class A4 units – – – AUD 3,628,973 9.41 – – – – – – – – – – – – – Class A7 units – – – – – – RMB 1,485,686 11.38 – – – RMB 128,285,425 10.48 RMB 2,014,675 10.51 – Class A8 units – – – USD 30,319,880 9.20 – – – – – – – – – – – – – Class A9 units – – – – – – – – – HKD 15,143,803 9.56 – – – – – – – Class I1 units – – – – – – – – – – – – – – – USD 1,025,620 10.51 – Class I2 units – – – – – – USD 4,153,447 10.52 – – – – – – – – – – Class X1 units – – – RMB 282,694,034 13.34 HKD 28,857,160 9.69 – – – USD 40,381,593 11.38 USD 553,128 11.06 – Class X2 units HKD 19,915,413 11.78 – – – USD 992,945 10.57 – – – – – – HKD 25,744,023 10.95 BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

10 Net Assets attributable to unitholders and number of units in issue (Continued)

As at 30 June 2020 (Continued)

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather China Income Fund Asia Pacific High Income FundShort Term Bond Fund Belt and Road Bond FundGreater Bay Area Strategy Fund Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset attributable to value attributable to value attributable to value attributable to value attributable to value unitholders per unit unitholders per unit unitholders per unit unitholders per unit unitholders per unit

2 – 120 – – Class A1 units HKD 86,042,096 8.07 USD 2,259,278 8.69 USD 60,396,889 10.45 USD 8,332,069 10.23 USD 31,011,089 10.05 – Class A2 units USD 2,521,461 8.13 HKD 59,649,871 8.58 HKD 187,802,225 10.34 HKD 77,395,052 10.10 HKD 566,204,325 9.93 – Class A3 units – – – – – – RMB 855,756 10.71 – – – MOP 306,539,191 9.93 – Class A4 units – – – AUD 967,947 8.24 – – – – – – RMB 22,407,872 10.57 – Class A8 units RMB 20,301,311 8.18 RMB 13,174,939 8.68 – – – RMB 31,905,215 10.28 – – – – Class A11 units – – – – – – – – – – – – RMB 116,397,180 10.09 – Class C1 units – – – – – – USD 10,249,420 10.45 – – – – – – – Class I1 units – – – – – – USD 59,549,616 10.48 – – – USD 5,250,829 10.50 – Class I6 units – – – – – – EUR 130,636,536 10.46 – – – – – – – Class X1 units – – – – – – USD 4,257,540 10.49 – – – USD 20,539,271 10.13 – Class X2 units – – – – – – HKD 52,742,660 10.39 – – – – – – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

10 Net Assets attributable to unitholders and number of units in issue (Continued)

As at 30 June 2019

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather Global Opportunities FundChina High Yield Bond FundHong Kong Equity Fund CNY Equity Fund Asian Bond Fund Asia (ex-Japan) Equity Fund Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset attributable to value attributable to value attributable to value attributable to value attributable to value attributable to value unitholders per unit unitholders per unit unitholders per unit unitholders per unit unitholders per unit unitholders per unit

– Class A1 units USD 1,392,896 10.38 RMB 749,491,449 10.64 HKD 135,034,601 10.56 RMB 45,363,988 7.37 USD 10,146,107 10.15 USD 312,536 10.27 – Class A2 units HKD 20,065,591 10.46 USD 27,281,406 9.56 USD 3,753,605 10.48 USD 11,102,966 6.67 HKD 145,019,651 10.22 HKD 8,091,932 10.32

2 – 121 – Class A3 units AUD 22,215 15.10 HKD 411,980,793 9.63 AUD 407,774 11.29 HKD 160,208,274 6.72 – – – – – – – Class A4 units – – – AUD 3,075,618 10.33 – – – – – – – – – – – – – Class A7 units – – – – – – RMB 1,799,054 11.54 – – – RMB 32,415,695 10.53 RMB 2,142,627 10.40 – Class A8 units – – – USD 20,180,277 9.90 – – – – – – – – – – – – – Class A9 units – – – – – – – – – HKD 3,930,736 6.64 – – – – – – – Class I2 units – – – – – – USD 4,139,598 10.48 – – – – – – – – – – Class X1 units – – – RMB 416,316,451 13.34 HKD 38,259,702 9.63 – – – USD 18,906,935 10.94 USD 534,235 10.68 – Class X2 units HKD 19,119,744 11.31 – – – – – – – – – – – – HKD 25,057,889 10.66 BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

10 Net Assets attributable to unitholders and number of units in issue (Continued)

As at 30 June 2019 (Continued)

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather China Income Fund Asia Pacific High Income FundShort Term Bond Fund Belt and Road Bond FundGreater Bay Area Strategy Fund Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset Net asset attributable to value attributable to value attributable to value attributable to value attributable to value unitholders per unit unitholders per unit unitholders per unit unitholders per unit unitholders per unit

2 – 122 – – Class A1 units HKD 110,184,519 9.25 USD 3,939,946 9.37 USD 33,819,070 10.24 USD 7,398,875 10.26 – – – – Class A2 units USD 6,902,070 9.25 HKD 80,038,845 9.33 HKD 134,461,551 10.21 HKD 107,776,611 10.21 – – – – Class A3 units – – – – – – RMB 535,937 10.20 – – – – – – – Class A4 units – – – AUD 812,044 9.11 – – – – – – – – – – Class A8 units RMB 37,887,635 9.40 RMB 16,661,242 9.34 – – – RMB 34,452,168 10.26 – – – – Class I1 units – – – – – – USD 32,810,068 10.26 – – – – – – – Class X1 units – – – – – – USD 10,775,752 10.25 – – – – – – – Class X2 units – – – – – – HKD 103,576,674 10.23 – – – – – – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

11 Soft dollar arrangements/commission sharing arrangements

During the years ended 30 June 2020 and 2019, the Manager has entered into soft dollar arrangements/commission sharing arrangements with brokers under which certain goods and services used to support investment decision making were received. The Manager has transacted an agreed amount of business with the brokers on behalf of the Sub-Funds and commission was paid on these transactions in consideration of the goods and services in accordance with the codes and guidelines issued by the SFC.

The goods and services must be of demonstrable benefit to the Sub-Funds and may include research and advisory services, economic and political analysis, portfolio analysis including valuation and performance measurement, market analysis and data and quotation services, computer hardware and software incidental to the above goods and services, clearing and custodian services and investment-related publications.

12 Transactions with the manager and its connected persons

Connected persons of the Manager are those as defined in the SFC Code. All transactions entered into during the year between the Sub-Funds and the Manager and its connected persons were carried out in the normal course of business and on normal commercial terms. To the best of the Manager’s knowledge, the Sub-Funds do not have any other transactions with connected persons except for what is disclosed in Note 4 to the financial statements and below.

(a) Bank balances with the connected persons of the Manager and the Trustee

The bank balances maintained with the connected persons of the Manager and the Trustee as at the end of the reporting period were as follows:

2020 2019

BOCHK All Weather Global Opportunities Fund USD 769,772 USD 286,790 BOCHK All Weather China High Yield Bond Fund RMB46,286,144 RMB122,007,968 BOCHK All Weather Hong Kong Equity Fund HKD 5,083,014 HKD 28,138,822 BOCHK All Weather CNY Equity Fund RMB 3,155,972 RMB 1,131,697 BOCHK All Weather Asian Bond Fund USD 6,877,778 USD 1,839,645 BOCHK All Weather Asia (ex-Japan) Equity Fund USD 285,294 USD 72,883 BOCHK All Weather China Income Fund HKD 9,098,749 HKD 6,824,053 BOCHK All Weather Asia Pacific High Income Fund USD 671,487 USD 1,540,040 BOCHK All Weather Short Term Bond Fund USD53,491,021 USD 3,071,527 BOCHK All Weather Belt and Road Bond Fund USD 1,008,472 USD 659,108 BOCHK All Weather Greater Bay Area Strategy Fund USD 6,023,860 USD –

– 123 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

12 Transactions with the manager and its connected persons (Continued)

(b) Holdings in the Sub-Funds

The Sub-Funds allow the Manager, its connected persons and other funds managed by the Manager to subscribe for and redeem units in the Sub-Funds. The holdings in the Sub-Funds by the Manager and its connected persons as at the end of the reporting period were as follows:

Units outstanding Units issued Units redeemed Units outstanding Units held by the Manager and its at the beginning during the during the at end of connected persons1: of year/period year/period year/period year/period 30 June 2020 BOCHK All Weather Global Opportunities Fund – Class A1 125,326.9430 2,286.4020 (4,173.4600) 123,439.8850 – Class A2 1,915,766.3680 1,299,124.0150 (739,286.2360) 2,475,604.1470 – Class A3 1,471.6500 59.1750 (1,248.9260) 281.8980 – Class X1 1,691,153.8370 – – 1,691,153.8370 BOCHK All Weather China High Yield Bond Fund – Class A1 62,090,910.0410 4,751,046.6990 (23,225,148.0030) 43,616,808.7370 – Class A2 1,359,698.6100 451,799.4840 (684,385.6530) 1,127,112.4410 – Class A3 40,157,173.1570 8,846,363.1000 (13,883,012.5690) 35,120,523.6880 – Class A4 276,006.8340 148,608.6020 (60,754.4250) 363,861.0110 – Class A8 2,037,423.2640 1,499,934.5160 (243,398.3230) 3,293,959.4570 – Class X1 31,194,916.9900 – (10,000,000.0000) 21,194,916.9900 BOCHK All Weather Hong Kong Equity Fund – Class A1 10,007,937.9170 4,140,716.5300 (5,548,698.4430) 8,599,956.0040 – Class A2 352,659.8780 1,422.1550 (65,048.7140) 289,033.3190 – Class A3 36,119.7090 14,397.9290 (12,517.2330) 38,000.4050 – Class A7 139,789.6010 54,493.8330 (79,838.6290) 114,444.8050 – Class X1 3,972,551.3680 744,274.8090 (1,737,323.4680) 2,979,502.7090 – Class X2 – 93,896.7130 – 93,896.7130 BOCHK All Weather CNY Equity Fund – Class A1 5,623,181.5770 40,205.8990 (2,946,522.6430) 2,716,864.8330 – Class A2 1,398,727.9740 60,273.0240 (499,166.9710) 959,834.0270 – Class A3 18,693,973.9440 1,195,270.8920 (5,570,462.1870) 14,318,782.6490 – Class A9 591,613.4170 1,455,468.5320 (462,537.0090) 1,584,544.9400 BOCHK All Weather Asian Bond Fund – Class A1 987,038.3050 6,790,791.9690 (1,798,864.9110) 5,978,965.3630 – Class A2 13,974,291.1360 47,553,937.4950 (21,721,126.2370) 39,807,102.3940 – Class A7 2,758,676.0390 11,655,686.6560 (3,493,054.4240) 10,921,308.2710 – Class X1 1,728,073.4210 1,820,900.3220 – 3,548,973.7430 BOCHK All Weather Asia (ex-Japan) Equity Fund – Class A1 30,418.5800 28,570.6020 (24,059.8950) 34,929.2870 – Class A2 784,469.6580 505,053.0670 (366,711.7790) 922,810.9460 – Class A7 206,089.2720 8,896.4130 (23,210.4740) 191,775.2110 – Class X1 50,000.0000 – – 50,000.0000 – Class X2 2,350,613.1470 – – 2,350,613.1470

– 124 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

12 Transactions with the manager and its connected persons (Continued)

(b) Holdings in the Sub-Funds (Continued)

Units held by the Manager and its Units outstanding Units issued Units redeemed Units outstanding connected persons1: at the beginning during the during the at end of of year/period year/period year/period year/period

30 June 2020 BOCHK All Weather China Income Fund – Class A1 11,909,946.7320 468,302.1970 (1,716,571.8650) 10,661,677.0640 – Class A2 745,937.3760 27,935.4880 (463,835.6490) 310,037.2150 – Class A8 4,032,297.4320 157,919.0730 (1,719,879.4960) 2,470,337.0090

BOCHK All Weather Asia Pacific High Income Fund – Class A1 420,567.8980 40,025.3450 (200,571.1600) 260,022.0830 – Class A2 8,582,572.6650 861,621.2840 (2,494,622.6580) 6,949,571.2910 – Class A4 89,177.6410 43,471.3900 (15,147.9340) 117,501.0970 – Class A8 1,784,172.8900 37,003.2800 (302,581.7110) 1,518,594.4590

BOCHK All Weather Short Term Bond Fund – Class A1 3,278,820.8800 5,096,006.2530 (2,594,946.5230) 5,779,880.6100 – Class A2 12,451,466.8010 17,053,248.1810 (11,751,362.2530) 17,753,352.7290 – Class A3 52,520.0480 46,027.9170 (18,677.4870) 79,870.4780 – Class X1 1,051,075.2270 288,361.7200 (933,565.2640) 405,871.6830 – Class X2 10,119,606.0140 – (5,044,215.7090) 5,075,390.3050

BOCHK All Weather Belt and Road Bond Fund – Class A1 721,158.6190 384,328.7390 (291,249.1940) 814,238.1640 – Class A2 10,547,384.3300 2,790,366.0930 (5,691,161.3080) 7,646,589.1150 – Class A8 3,356,356.6350 3,105,688.4580 (3,357,806.2990) 3,104,238.7940

BOCHK All Weather Greater Bay Area Strategy Fund – Class A1 – 4,792,061.0590 (1,765,052.5090) 3,027,008.5500 – Class A2 – 17,117,901.1820 (5,640,381.7080) 11,477,519.4740 – Class A3 – 93,602,177.6410 (37,178,274.5300) 56,423,903.1110 – Class A4 – 35,840,417.7790 (4,957,536.2000) 30,882,881.5790 – Class A11 – 2,761,551.3000 (683,589.9630) 2,077,961.3370 – Class X1 – 2,027,520.0120 – 2,027,520.0120

1 The units were held by Manager and its connected persons were not include Directors of the Manager and its connected persons.

– 125 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

12 Transactions with the manager and its connected persons (Continued)

(b) Holdings in the Sub-Funds (Continued)

30 June 2020 BOCHK All Weather Global Opportunities Fund – Class A1 133,259.1770 3,487.5380 (11,419.7720) 125,326.9430 – Class A2 2,082,448.8900 940,424.3000 (1,107,106.8220) 1,915,766.3680 – Class A3 1,858.3050 1,622.8490 (2,009.5040) 1,471.6500 – Class X2 1,691,153.8370 – – 1,691,153.8370

BOCHK All Weather China High Yield Bond Fund – Class A1 108,521,941.3190 4,361,201.8170 (50,792,233.0950) 62,090,910.0410 – Class A2 1,989,929.4700 55,474.4720 (685,705.3320) 1,359,698.6100 – Class A3 47,206,636.2910 10,664,256.3990 (17,713,719.5330) 40,157,173.1570 – Class A4 305,784.2230 12,537.3910 (42,314.7800) 276,006.8340 – Class A8 571,577.2820 1,667,383.7560 (201,537.7740) 2,037,423.2640 – Class X1 39,340,761.7720 23,529,411.7640 (31,675,256.5460) 31,194,916.9900 – Class I4 234,694.4200 231,660.2310 (466,354.6510) –

BOCHK All Weather Hong Kong Equity Fund – Class A1 10,041,675.7930 5,282,352.0720 (5,316,089.9480) 10,007,937.9170 – Class A2 607,387.9960 1,010.8200 (255,738.9380) 352,659.8780 – Class A3 34,577.9500 1,541.7590 – 36,119.7090 – Class A7 161,677.8730 – (21,888.2720) 139,789.6010 – Class X1 9,962,452.2010 10,574,026.6800 (16,563,927.5130) 3,972,551.3680

BOCHK All Weather CNY Equity Fund – Class A1 6,600,846.3190 13,339.4640 (991,004.2060) 5,623,181.5770 – Class A2 1,859,536.6960 152,568.2610 (613,376.9830) 1,398,727.9740 – Class A3 21,510,736.4260 2,695,029.6870 (5,511,792.1690) 18,693,973.9440 – Class A9 417,884.7490 674,280.4700 (500,551.8020) 591,613.4170

BOCHK All Weather Asian Bond Fund – Class A1 1,359,580.8840 457,047.5640 (829,590.1430) 987,038.3050 – Class A2 10,626,768.3390 8,128,754.0240 (4,781,231.2270) 13,974,291.1360 – Class A7 2,519,777.4510 952,304.4290 (713,405.8410) 2,758,676.0390 – Class X1 1,478,821.1780 249,252.2430 – 1,728,073.4210

BOCHK All Weather Asia (ex-Japan) Equity Fund – Class A1 50,120.9320 – (19,702.3520) 30,418.5800 – Class A2 1,278,832.5200 380,975.9270 (875,338.7890) 784,469.6580 – Class A7 271,835.1360 – (65,745.8640) 206,089.2720 – Class X1 – 50,000.0000 – 50,000.0000 – Class X2 2,521,839.2070 1,465,612.5340 (1,636,838.5940) 2,350,613.1470

– 126 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

12 Transactions with the manager and its connected persons (Continued)

(b) Holdings in the Sub-Funds (Continued)

30 June 2020 BOCHK All Weather China Income Fund – Class A1 14,996,228.4900 1,480,497.0960 (4,566,778.8540) 11,909,946.7320 – Class A2 856,637.5010 2,172.7520 (112,872.8770) 745,937.3760 – Class A8 4,428,402.5170 178,047.6480 (574,152.7330) 4,032,297.4320

BOCHK All Weather Asia Pacific High Income Fund – Class A1 699,032.6250 33,515.1220 (311,979.8490) 420,567.8980 – Class A2 13,811,959.3580 175,882.2850 (5,405,268.9780) 8,582,572.6650 – Class A4 102,763.2600 510.3130 (14,095.9320) 89,177.6410 – Class A8 2,627,619.9210 132,079.5390 (975,526.5700) 1,784,172.8900

BOCHK All Weather Short Term Bond Fund – Class A1 – 17,478,096.3410 (14,199,275.4610) 3,278,820.8800 – Class A2 – 20,987,895.0880 (8,536,428.2870) 12,451,466.8010 – Class A3 – 69,620.7500 (17,100.7020) 52,520.0480 – Class X1 – 2,591,300.6250 (1,540,225.3980) 1,051,075.2270 – Class X2 – 14,493,959.7900 (4,374,353.7760) 10,119,606.0140

BOCHK All Weather Belt and Road Bond Fund – Class A1 – 753,141.1530 (31,982.5340) 721,158.6190 – Class A2 – 11,347,452.6270 (800,068.2970) 10,547,384.3300 – Class A8 – 3,735,666.2980 (379,309.6630) 3,356,356.6350

1 The units were held by Manager and its connected persons were not include Directors of the Manager and its connected persons.

– 127 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

12 Transactions with the manager and its connected persons (Continued)

(b) Holdings in the Sub-Funds (Continued)

Units held by the Director of the Units outstanding Units outstanding Manager: at the beginning at end of of year/period/date Units issued Units redeemed year/period/date of appointment of during the during the of resignation of director year/period year/period director 30 June 2020 BOCHK All Weather Global Opportunities Fund – Class A2 – 3,308.7640 3,308.7640 BOCHK All Weather China High Yield Bond Fund – Class A1 1,617.2920 – – 1,617.29203 – Class A3 8.2830 72,108.6250 (72,116.9080) – – Class A8 – 7,083.1160 (7,083.1160) – BOCHK All Weather Asian Bond Fund – Class A1 – 1,146.3000 – 1,146.3000 – Class A2 – 5,255.5500 – 5,255.5500

BOCHK All Weather Hong Kong Equity Fund – Class A1 17,161.00001 – – 17,161.0000 BOCHK All Weather Short Term Bond Fund – Class A1 25,647.7600 11,024.6000 (14,160.0000) 225,123.0000 – Class A2 388,304.05201 69,805.9000 (59,250.0000) 398,860.0520 – Class A3 34,758.96801 – – 34,758.9680 BOCHK All Weather Greater Bay Area Strategy Fund – Class A1 – 784.4400 – 784.4400 30 June 2019 BOCHK All Weather Global Opportunities Fund – Class A2 50,738.5580 – 50,738.5580 – BOCHK All Weather China High Yield Bond Fund – Class A1 1,516.4630 100.8290 – 1,617.2920 – Class A3 47,617.1710 1,290.1560 (38,899.0440) 10,008.2830 – Class A8 12,087.3670 – (12,087.3670) – BOCHK All Weather Short Term Bond Fund – Class A1 – 25,647.7600 – 25,647.7600 – Class A2 – 388,679.2220 (20,000.0000) 368,679.2220

1 The units were held by directors who were appointed during the year ended 30 June 2020.

2 The units were held by a director who was resigned during the year ended 30 June 2019.

3 The units were held by a director who was resigned during the year ended 30 June 2020.

– 128 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

12 Transactions with the manager and its connected persons (Continued)

As at 30 June 2020, the holdings of the securities issued by a connected person of the Manager and Trustee by the Sub-Funds at the end of the reporting period were as follows:

Holding/ nominal value Fair value

BOCHK ALL WEATHER HONG KONG EQUITY FUND BOC HONG KONG (HLDGS) LTD 120,000 HKD2,958,000

BOCHK ALL WEATHER ASIAN BOND FUND BANK OF CHINA LTD 5% S/A 13NOV2024 REGS 500,000 USD560,468 BOC AVIATION LTD 2.375% S/A 15SEP2021 REGS 200,000 USD201,875 BOC AVIATION LTD 2.75% S/A 02DEC2023 1,500,000 USD1,516,193 BOC AVIATION LTD 3.25% S/A 29APR2025 REGS 2,000,000 USD2,060,214

BOCHK ALL WEATHER CHINA INCOME FUND BOC AVIATION LTD 2.75% S/A 02DEC2023 350,000 HKD2,741,959 BANK OF CHINA LTD-H 415,000 HKD1,191,050 BOC HONG KONG (HLDGS) LTD 15,000 HKD369,750 POSTAL SAVINGS BANK OF CHINA CO LTD-H 66,000 HKD293,700

BOCHK ALL WEATHER ASIA PACIFIC HIGH INCOME FUND BOC HONG KONG (HLDGS) LTD 30,000 USD95,413

BOCHK ALL WEATHER BELT AND ROAD BOND FUND BOC AVIATION LTD 2.75% S/A 02DEC2023 500,000 USD505,397

BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND BANK OF CHINA LTD/HONG KONG 3.625% S/A 17APR2029 640,000 USD729,172 BOC AVIATION LTD 2.75% S/A 02DEC2023 1,750,000 USD1,768,892 BOC AVIATION LTD 3.25% S/A 29APR2025 REGS 2,000,000 USD2,060,214

– 129 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

12 Transactions with the manager and its connected persons (Continued)

As at 30 June 2019, the holdings of the securities issued by a connected person of the Manager and Trustee by the Sub-Funds at the end of the reporting period were as follows:

Holding/ nominal value Fair value

BOCHK ALL WEATHER HONG KONG EQUITY FUND BOC HONG KONG (HLDGS) LTD 100,000 HKD3,075,000

BOCHK ALL WEATHER ASIAN BOND FUND BOC AVIATION LTD 2.375% S/A 15SEP2021 REGS 200,000 USD199,387 BANK OF CHINA LTD 5% S/A 13NOV2024 REGS 500,000 USD541,718 POSTAL SAVINGS BANK OF CHINA CO LTD 4.5% A PERP 200,000 USD203,664

BOCHK ALL WEATHER ASIA (EX-JAPAN) EQUITY FUND BOC HONG KONG (HLDGS) LTD 12,500 USD49,211 BANK OF CHINA LTD-H 100,000 USD42,250

BOCHK ALL WEATHER CHINA INCOME FUND BOC HONG KONG (HLDGS) LTD 70,000 HKD2,152,500 POSTAL SAVINGS BANK OF CHINA CO LTD 4.5% A PERP 200,000 HKD1,590,758 BANK OF CHINA LTD-H 800,000 HKD2,640,000

BOCHK ALL WEATHER ASIA PACIFIC HIGH INCOME FUND BOC AVIATION LTD 30,000 USD251,962 BOC HONG KONG (HLDGS) LTD 35,000 USD137,792

BOCHK ALL WEATHER SHORT TERM BOND FUND BANK OF CHINA LTD/HONG KONG 3M L+0.77% Q 14FEB2020 5,600,000 USD5,630,280 BANK OF CHINA LTD/LUXEMBOURG 3M L+1% Q 12JUL2019 450,000 USD453,680

BOCHK ALL WEATHER BELT AND ROAD BOND FUND BANK OF CHINA LTD/HONG KONG 3.625% S/A 17APR2029 200,000 USD206,772

– 130 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

12 Transactions with the manager and its connected persons (Continued)

(d) Investment transactions with a connected person of the Manager

Po Sang Securities and Futures Limited, a connected person of the Manager, rendered brokerage services for the Sub-Funds’ purchases and sales of securities. During the year ended 30 June 2020 and 30 June 2019, the transaction details were as follows:

BOCHK All Weather Global Opportunities Fund

Aggregate % of Sub- value of Fund’s total purchases Total transactions Average and sales of commission during the commission securities paid year rate USD USD %

30 June 2020 Po Sang Securities and Futures Limited ––––

30 June 2019 Po Sang Securities and Futures Limited 1,492,586 2,388 3.24 0.16

BOCHK All Weather Hong Kong Equity Fund

Aggregate % of Sub- value of Fund’s total purchases Total transactions Average and sales of commission during the commission securities paid year rate HKD HKD %

30 June 2020 Po Sang Securities and Futures Limited 74,218,121 118,644 20.71 0.16

30 June 2019 Po Sang Securities and Futures Limited 256,841,587 410,874 14.43 0.16

– 131 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

12 Transactions with the manager and its connected persons (Continued)

(e) Fees earned by the Manager’s connected persons

For the years ended 30 June 2020 and 2019, the Manager’s connected persons received initial charges and switching fees from investors of the Sub-Funds as follows:

2020 2019

BOCHK All Weather Global Opportunities Fund USD 6,614 USD 1,718 BOCHK All Weather China High Yield Bond Fund RMB 933,156 RMB980,161 BOCHK All Weather Hong Kong Equity Fund HKD 217,504 HKD485,114 BOCHK All Weather CNY Equity Fund RMB 115,788 RMB372,909 BOCHK All Weather Asian Bond Fund USD1,789,334 USD179,344 BOCHK All Weather Asia (ex-Japan) Equity Fund USD 7,978 USD 509 BOCHK All Weather China Income Fund HKD 66,216 HKD 78,443 BOCHK All Weather Asia Pacific High Income Fund USD 11,121 USD 16,387 BOCHK All Weather Short Term Bond Fund USD 77,810 USD 41,191 BOCHK All Weather Belt and Road Bond Fund USD 161,899 USD341,330 BOCHK All Weather Greater Bay Area Strategy Fund USD 723,071

(f) Investments in other collective investment funds managed by the Manager

As at the end of the reporting period, the following Sub-Funds invested in other investment funds managed by the Manager and the details are as below:

Net 30 June 2020 Units Fair value gains/(losses) BOCHK All Weather Global Opportunities Fund BOCHK All Weather Asia (ex-Japan) Equity Fund 50,000 USD553,000 USD17,000 BOCHK All Weather Hong Kong Equity Fund 404,984 USD506,329 USD7,014

BOCHK All Weather China High Yield Bond Fund BOCHK RMB High Yield Bond Fund 10,774 RMB7,413,405 RMB(205,160)

BOCHK All Weather Hong Kong Equity Fund BOCHK All Weather Asia (ex-Japan) Equity Fund 997,009 HKD10,917,248 HKD249,252

BOCHK All Weather Asian Bond Fund BOCHK All Weather Short Term Bond Fund 288,362 USD3,024,886 USD24,886

BOCHK All Weather Belt and Road Bond Fund BOCHK All Weather Hong Kong Equity Fund 505,051 USD631,434 USD8,745

– 132 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

12 Transactions with the manager and its connected persons (Continued)

(f) Investments in other collective investment funds managed by the Manager (Continued)

Net 30 June 2019 Units Fair value gains/(losses)

BOCHK All Weather Global Opportunities Fund BOCHK All Weather Asia (ex-Japan) Equity Fund 50,000 USD536,000 USD36,000 BOCHK All Weather Hong Kong Equity Fund 404,984 USD499,315 USD2,284

BOCHK All Weather China High Yield Bond Fund BOCHK RMB High Yield Bond Fund 10,774 RMB7,618,565 RMB583,591

BOCHK All Weather Hong Kong Equity Fund BOCHK All Weather Asia (ex-Japan) Equity Fund 997,009 HKD10,667,996 HKD667,996

BOCHK All Weather Belt and Road Bond Fund BOCHK All Weather Hong Kong Equity Fund 505,051 USD622,689 USD(14,446)

13 Formation Costs

In accordance with the provisions of the Explanatory Memorandum, preliminary expenses of the Sub-Funds are amortised in the first three years. However, preliminary expenses are expensed as incurred, as required under HKFRS. A reconciliation of the net assets attributable to unitholders as reported in the statement of net assets to the net assets attributable to unitholders as determined for the purposes of processing unit subscriptions and redemptions are provided below:

BOCHK All Weather Asia (ex-Japan) Equity Fund

2020 2019 USD USD

Net assets attributable to unitholders (at trading value) 6,794,406 5,421,507 Adjustment of preliminary expense – (18,604) Net assets attributable to unitholders 6,794,406 5,402,903

– 133 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

13 Formation Costs (Continued)

BOCHK All Weather China Income Fund

2020 2019 HKD HKD

Net assets attributable to unitholders (at trading value) 127,843,805 207,183,227 Adjustment of preliminary expense – (178,187) Net assets attributable to unitholders 127,843,805 207,005,040

BOCHK All Weather Asia Pacific High Income Fund

2020 2019 USD USD

Net assets attributable to unitholders (at trading value) 12,486,271 17,218,528 Adjustment of preliminary expense – (35,235) Net assets attributable to unitholders 12,486,271 17,183,293

BOCHK All Weather Short Term Bond Fund

2020 2019 USD USD

Net assets attributable to unitholders (at trading value) 312,537,629 107,958,721 Adjustment of preliminary expense (28,572) (57,223) Net assets attributable to unitholders 312,509,057 107,901,498

BOCHK All Weather Belt and Road Bond Fund

2020 2019 USD USD

Net assets attributable to unitholders (at trading value) 22,831,409 26,213,865 Adjustment of preliminary expense (34,763) (69,620) Net assets attributable to unitholders 22,796,646 26,144,245

– 134 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

13 Formation Costs (Continued)

BOCHK All Weather Greater Bay Area Strategy Fund

2020 USD

Net assets attributable to unitholders (at trading value) 187,891,834 Adjustment of preliminary expense (49,494) Net assets attributable to unitholders 187,842,340

As at 30 June 2020, the remaining amortisation period of the Sub-funds are as follows:

Remaining years

BOCHK All Weather Short Term Bond Fund 1.00 BOCHK All Weather Belt and Road Bond Fund 1.00 BOCHK All Weather Greater Bay Area Strategy Fund 1.00

14 Cash and Cash Equivalents

BOCHK All Weather Global Opportunities Fund

2020 2019 USD USD

Cash at bank 511,724 286,790 Time deposits 258,048 – 769,772 286,790

BOCHK All Weather China High Yield Bond Fund

2020 2019 RMB RMB

Cash at bank 46,286,144 122,007,968

– 135 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

14 Cash and Cash Equivalents (Continued)

BOCHK All Weather Hong Kong Equity Fund

2020 2019 HKD HKD

Cash at bank 5,083,014 28,138,822

BOCHK All Weather CNY Equity Fund

2020 2019 RMB RMB

Cash at bank 6,816,276 3,428,400

BOCHK All Weather Asian Bond Fund

2020 2019 USD USD

Cash at bank 6,897,825 1,859,578

BOCHK All Weather Asia (ex-Japan) Equity Fund

2020 2019 USD USD

Cash at bank 285,294 72,883

BOCHK All Weather China Income Fund

2020 2019 HKD HKD

Cash at bank 9,098,749 6,824,053

BOCHK All Weather Asia Pacific High Income Fund

2020 2019 USD USD

Cash at bank 671,487 1,540,040

– 136 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

14 Cash and Cash Equivalents (Continued)

BOCHK All Weather Short Term Bond Fund

2020 2019 USD USD

Cash at bank 2,375,343 3,071,527 Time deposits 136,218,001 43,209,300 138,593,344 46,280,827

BOCHK All Weather Belt and Road Bond Fund

2020 2019 USD USD

Cash at bank 1,008,472 659,108

BOCHK All Weather Greater Bay Area Strategy Fund

2020 USD

Cash at bank 6,023,860

The bank balance is the cash at bank held with the Custodian of the Sub-Fund that was placed into accounts bearing floating interest.

Short term time deposits are made for varying periods of between one day and three months depending on the immediate cash requirements of the Sub-Fund, and earn interest at the respective short term time deposit rates. The bank balances are deposited with creditworthy banks with no recent history of default.

15 Commissions and Transaction Costs

Broker commission pertain to the broker commission for every transaction made through the broker at the average market rate based on the transaction value. Transaction costs pertain to fees such as trading fee and transaction levy for every transaction made on the exchange.

– 137 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders

Except for BOCHK All Weather China High Yield Bond Fund, BOCHK All Weather Asian Bond Fund, BOCHK All Weather China Income Fund, BOCHK All Weather Asia Pacific High Income Fund, BOCHK All Weather Belt and Road Bond Fund and BOCHK All Weather Greater Bay Area Strategy Fund, the Manager does not intend to make distributions in respect of any Sub-Funds and any income earned by Sub-Funds will be reinvested in that Sub-Funds and reflected in the value of units of the relevant classes of that Sub-Funds.

BOCHK All Weather China High Yield Bond Fund

2020 2019 RMB RMB

Final distribution Class A1 – RMB0.14 on 51,987,692.2670 units paid on 8 July 2020 (2019: RMB0.14 on 70,560,592.4760 units paid on 9 July 2019) 7,278,277 9,878,483 Class A2 – USD0.12 on 1,199,543.3880 units paid on 8 July 2020 (2019: USD0.13 on 2,854,689.5760 units paid on 9 July 2019) 1,017,520 2,548,744 Class A3 – HKD0.12 on 37,496,636.1550 units paid on 8 July 2020 (2019: HKD0.13 on 42,789,725.6460 units paid on 9 July 2019) 4,103,832 4,891,216 Class A4 – AUD0.13 on 385,694.1780 units paid on 8 July 2020 (2019: AUD0.14 on 297,840.0010 units paid on 9 July 2019) 244,203 201,035 Class A8 – USD0.13 on 3,295,236.9930 units paid on 8 July 2020 (2019: USD0.12 on 2,038,700.8000 units paid on 9 July 2019) 3,028,138 1,680,191 15,671,970 19,199,669

Interim distribution Class A1 – RMB0.12 on 53,623,020.6800 units paid on 7 April 2020 (2019: RMB0.14 on 76,586,370.7990 units paid on 8 April 2019) 6,434,762 10,722,092 – RMB0.14 on 58,581,056.8160 units paid on 8 January 2020 (2019: RMB0.13 on 88,383,672.6240 units paid on 8 January 2019) 8,201,348 11,489,877 – RMB0.14 on 64,308,764.2940 units paid on 14 October 2019 (2019: RMB0.13 on 102,848,359.3300 units paid on 12 October 2018) 9,003,227 13,370,287

– 138 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather China High Yield Bond Fund (Continued)

2020 2019 RMB RMB

Interim distribution (continued) Class A2 – USD0.11 on 1,256,847.2370 units paid on 7 April 2020 (2019: USD0.13 on 2,906,568.4420 units paid on 8 April 2019) 981,003 2,540,387 – USD0.13 on 1,526,481.6870 units paid on 8 January 2020 (2019: USD0.12 on 3,039,338.9690 units paid on 8 January 2019) 1,381,439 2,505,449 – USD0.12 on 2,758,276.8820 units paid on 14 October 2019 (2019: USD0.12 on 3,128,831.9570 units paid on 12 October 2018) 2,363,753 2,581,699 Class A3 – HKD0.11 on 37,385,766.4840 units paid on 7 April 2020 (2019: HKD0.13 on 40,950,924.7090 units paid on 8 April 2019) 3,764,559 4,559,460 – HKD0.13 on 39,871,983.7460 units paid on 8 January 2020 (2019: HKD0.12 on 44,349,652.4980 units paid on 8 January 2019) 4,632,495 4,667,806 – HKD0.12 on 40,666,011.2860 units paid on 14 October 2019 (2019: HKD0.12 on 47,375,404.8070 units paid on 12 October 2018) 4,445,596 4,993,736 Class A4 – AUD0.12 on 364,605.2160 units paid on 7 April 2020 (2019: AUD0.14 on 304,732.1620 units paid on 8 April 2019) 189,440 203,533 – AUD0.14 on 347,205.4900 units paid on 8 January 2020 (2019: AUD0.13 on 307,190.2440 units paid on 8 January 2019) 237,682 193,212 – AUD0.13 on 302,757.5180 units paid on 14 October 2019 (2019: AUD0.13 on 330,330.5860 units paid on 12 October 2018) 189,669 213,310 Class A8 – USD0.11 on 2,706,900.2640 units paid on 7 April 2020 (2019: USD0.11 on 1,845,843.8540 units paid on 8 April 2019) 2,112,809 1,365,098 – USD0.13 on 2,098,505.5740 units paid on 8 January 2020 (2019: USD0.09 on 1,926,508.2130 units paid on 8 January 2019) 1,899,110 1,179,308 – USD0.13 on 2,088,948.2800 units paid on 14 October 2019 (2019: USD0.11 on 540,980.2900 units paid on 12 October 2018) 1,939,342 409,182 47,776,234 60,994,437 Total distributions 63,448,204 80,194,106

– in cash 56,941,892 74,330,028 – for reinvestment 6,506,312 5,864,078

– 139 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather China High Yield Bond Fund (Continued)

The final dividend payable (in cash) to the unitholders as of 30 June 2020 was RMB13,516,976 (2019: RMB17,582,108), excluding the dividends for reinvestment of RMB2,154,994 (2019: RMB1,617,561).

BOCHK All Weather Asian Bond Fund

2020 2019 USD USD

Final distribution Class A1 – USD0.034 on 6,028,747.9350 units paid on 8 July 2020 (2019: USD0.034 on 999,348.5230 units paid on 8 July 2019) Class A2 204,977 33,978 – HKD0.034 on 41,044,906.6580 units paid on 8 July 2020 (2019: HKD0.034 on 14,053,765.7000 units paid on 8 July 2019) 180,056 61,176 Class A7 – RMB0.036 on 12,242,532.1610 units paid on 8 July 2020 (2019: RMB0.035 on 3,078,801.3190 units paid on 8 July 2019) 62,349 15,690 447,383 110,844 Interim distribution Class A1 – USD0.033 on 5,875,828.8490 units paid on 5 June 2020 (2019: USD0.033 on 778,417.3900 units paid on 10 June 2019) 193,902 25,688 – USD0.033 on 5,656,960.8620 units paid on 8 May 2020 (2019: USD0.033 on 752,019.4420 units paid on 8 May 2019) 186,680 24,817 – USD0.031 on 5,597,603.7400 units paid on 7 April 2020 (2019: USD0.033 on 706,360.2930 units paid on 8 April 2019) 173,526 23,310 – USD0.035 on 5,675,840.8970 units paid on 6 March 2020 (2019: USD0.031 on 1,294,597.1910 units paid on 7 March 2019) 198,654 40,133 – USD0.035 on 4,918,833.9260 units paid on 7 February 2020 (2019: USD0.030 on 1,233,498.2120 units paid on 12 February 2019) 172,159 37,005 – USD0.035 on 4,371,751.4510 units paid on 8 January 2020 (2019: USD0.030 on 1,257,570.5760 units paid on 8 January 2019) 153,011 37,727 – USD0.035 on 3,699,115.0360 units paid on 6 December 2019 (2019: USD0.030 on 1,259,510.5400 units paid on 7 December 2018) 129,469 37,784 – USD0.034 on 2,539,753.7100 units paid on 7 November 2019 (2019: USD0.029 on 1,262,443.3110 units paid on 7 November 2018) 86,352 36,611 – USD0.034 on 2,318,638.3290 units paid on 9 October 2019 (2019: USD0.028 on 1,268,470.0710 units paid on 8 October 2018) 78,834 35,517

– 140 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather Asian Bond Fund (Continued)

2020 2019 USD USD

Interim distribution (continued) Class A1 (continued) – USD0.034 on 2,021,965.4620 units paid on 6 September 2019 (2019: USD0.029 on 1,271,356.9610 units paid on 7 September 2018) 68,747 36,869 – USD0.034 on 1,806,381.2400 units paid on 7 August 2019 (2019: USD0.028 on 1,307,665.9610 units paid on 7 August 2018) 61,417 36,615 Class A2 – HKD0.033 on 39,560,997.9820 units paid on 5 June 2020 (2019: HKD0.034 on 9,212,926.8660 units paid on 10 June 2019) 168,427 39,962 – HKD0.033 on 42,423,039.4510 units paid on 8 May 2020 (2019: HKD0.034 on 9,515,586.2220 units paid on 8 May 2019) 180,628 41,238 – HKD0.031 on 42,749,103.3360 units paid on 7 April 2020 (2019: HKD0.033 on 8,719,177.3980 units paid on 8 April 2019) 170,966 36,653 – HKD0.035 on 44,084,647.1410 units paid on 6 March 2020 (2019: HKD0.031 on 8,437,985.4740 units paid on 7 March 2019) 197,981 33,323 – HKD0.035 on 17,417,226.2540 units paid on 7 February 2020 (2019: HKD0.031 on 8,293,439.3360 units paid on 12 February 2019) 206,119 32,764 – HKD0.035 on 40,942,006.6940 units paid on 8 January 2020 (2019: HKD0.030 on 8,266,169.4280 units paid on 8 January 2019) 183,969 31,662 – HKD0.035 on 35,927,085.0680 units paid on 6 December 2019 (2019: HKD0.030 on 8,308,922.1050 units paid on 7 December 2018) 160,618 31,859 – HKD0.035 on 32,481,456.3310 units paid on 7 November 2019 (2019: HKD0.030 on 9,259,188.1520 units paid on 7 November 2018) 145,044 35,423 – HKD0.035 on 27,872,741.4450 units paid on 9 October 2019 (2019: HKD0.028 on 9,757,561.4730 units paid on 8 October 2018) 124,446 34,902 – HKD0.035 on 26,491,999.0650 units paid on 6 September 2019 (2019: HKD0.029 on 9,943,916.6120 units paid on 7 September 2018) 118,238 36,740 – HKD0.034 on 19,974,226.7330 units paid on 7 August 2019 (2019: HKD0.028 on 10,260,932.8900 units paid on 7 August 2018) 86,763 36,605

– 141 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather Asian Bond Fund (Continued)

2020 2019 USD USD

Interim distribution (continued) Class A7 – RMB0.034 on 11,972,390.0990 units paid on 5 June 2020 (2019: RMB0.035 on 3,330,952.2350 units paid on 10 June 2019) 57,066 16,807 – RMB0.034 on 11,548,390.4350 units paid on 8 May 2020 (2019: RMB0.035 on 3,164,194.1110 units paid on 8 May 2019) 55,476 16,436 – RMB0.032 on 11,982,813.5420 units paid on 7 April 2020 (2019: RMB0.034 on 3,145,789.6230 units paid on 8 April 2019) 54,040 15,909 – RMB0.036 on 12,604,143.0730 units paid on 6 March 2020 (2019: RMB0.036 on 2,915,547.2250 units paid on 7 March 2019) 65,009 15,670 – RMB0.036 on 11,575,458.9420 units paid on 7 February 2020 (2019: RMB0.036 on 2,650,499.2610 units paid on 12 February 2019) 59,545 14,215 – RMB0.036 on 11,246,615.2530 units paid on 8 January 2020 (2019: RMB0.036 on 2,754,271.4340 units paid on 8 January 2019) 58,160 14,434 – RMB0.036 on 8,642,009.2500 units paid on 6 December 2019 (2019: RMB0.035 on 2,753,954.4510 units paid on 7 December 2018) 44,249 13,869 – RMB0.036 on 8,349,881.7420 units paid on 7 November 2019 (2019: RMB0.034 on 2,754,654.6150 units paid on 7 November 2018) 42,633 13,424 – RMB0.036 on 7,176,277.3370 units paid on 9 October 2019 (2019: RMB0.028 on 2,769,535.9220 units paid on 8 October 2018) 36,176 11,278 – RMB0.036 on 6,176,760.9370 units paid on 6 September 2019 (2019: RMB0.031 on 2,774,158.0250 units paid on 7 September 2018) 31,046 12,562 – RMB0.035 on 4,990,374.1210 units paid on 7 August 2019 (2019: RMB0.037 on 2,812,678.8860 units paid on 7 August 2018) 25,618 15,341 3,774,968 923,152 Total distributions 4,222,351 1,033,996

– in cash 3,809,703 1,001,718 – for reinvestment 412,648 32,278

The final dividend payable (in cash) to the unitholders as of 30 June 2020 was USD405,557 (2019: USD106,009), excluding the dividends for reinvestment of USD41,825 (2019: USD4,835).

– 142 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather China Income Fund

2020 2019 HKD HKD

Final distribution Class A1 – HKD0.024 on 10,661,677.0640 units paid on 8 July 2020 (2019: HKD0.027 on 11,909,946.7320 units paid on 8 July 2019) 255,880 321,569 Class A2 – USD0.024 on 310,037.2150 units paid on 8 July 2020 (2019: USD0.027 on 745,937.3760 units paid on 8 July 2019) 57,671 157,310 Class A8 – RMB0.024 on 2,482,392.1840 units paid on 8 July 2020 (2019: RMB0.028 on 4,032,297.4320 units paid on 8 July 2019) 65,323 128,403 378,874 607,282

Interim distribution Class A1 – HKD0.023 on 10,717,929.6110 units paid on 5 June 2020 (2019: HKD0.027 on 12,237,112.1350 units paid on 10 June 2019) 246,512 330,402 – HKD0.023 on 10,811,716.1420 units paid on 8 May 2020 (2019: HKD0.027 on 12,305,754.9830 units paid on 8 May 2019) 248,669 332,255 – HKD0.023 on 10,797,748.7430 units paid on 7 April 2020 (2019: HKD0.027 on 12,307,633.8300 units paid on 8 April 2019) 248,348 332,306 – HKD0.026 on 10,943,161.1410 units paid on 6 March 2020 (2019: HKD0.026 on 12,510,841.9430 units paid on 7 March 2019) 284,522 325,282 – HKD0.026 on 10,940,348.7790 units paid on 7 February 2020 (2019: HKD0.026 on 13,683,480.7170 units paid on 12 February 2019) 284,449 355,771 – HKD0.026 on 11,600,600.9820 units paid on 8 January 2020 (2019: HKD0.026 on 13,776,027.3430 units paid on 8 January 2019) 301,616 344,401 – HKD0.026 on 11,679,666.7090 units paid on 6 December 2019 (2019: HKD0.026 on 14,063,355.8130 units paid on 7 December 2018) 303,671 365,647 – HKD0.026 on 11,708,030.0740 units paid on 7 November 2019 (2019: HKD0.027 on 14,091,526.2230 units paid on 7 November 2018) 304,409 380,471 – HKD0.026 on 11,644,524.5760 units paid on 9 October 2019 (2019: HKD0.029 on 14,158,509.6490 units paid on 8 October 2018) 302,758 410,597 – HKD0.026 on 11,700,243.3980 units paid on 6 September 2019 (2019: HKD0.029 on 14,287,982.4130 units paid on 7 September 2018) 304,206 414,352 – HKD0.027 on 11,865,085.1650 units paid on 7 August 2019 (2019: HKD0.030 on 14,002,079.2110 units paid on 7 August 2018) 320,357 420,062

– 143 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather China Income Fund (Continued)

2020 2019 HKD HKD

Interim distribution (continued) Class A2 – USD0.024 on 310,485.6110 units paid on 5 June 2020 (2019: USD0.027 on 748,835.9550 units paid on 10 June 2019) 57,759 158,481 – USD0.024 on 310,396.0780 units paid on 8 May 2020 (2019: USD0.027 on 748,740.6690 units paid on 8 May 2019) 57,737 158,603 – USD0.023 on 310,309.5600 units paid on 7 April 2020 (2019: USD0.027 on 768,755.9910 units paid on 8 April 2019) 55,323 162,938 – USD0.026 on 628,163.5990 units paid on 6 March 2020 (2019: USD0.026 on 776,325.6600 units paid on 7 March 2019) 127,285 158,444 – USD0.026 on 677,783.0500 units paid on 7 February 2020 (2019: USD0.026 on 779,833.0950 units paid on 12 February 2019) 136,825 159,101 – USD0.026 on 715,927.8020 units paid on 8 January 2020 (2019: USD0.026 on 802,902.0800 units paid on 8 January 2019) 144,989 157,212 – USD0.026 on 715,831.2620 units paid on 6 December 2019 (2019: USD0.026 on 803,705.2560 units paid on 7 December 2018) 145,707 163,493 – USD0.026 on 716,423.9550 units paid on 7 November 2019 (2019: USD0.027 on 805,481.7430 units paid on 7 November 2018) 145,999 170,541 – USD0.026 on 717,372.9960 units paid on 9 October 2019 (2019: USD0.029 on 833,344.6900 units paid on 8 October 2018) 146,213 189,179 – USD0.026 on 716,707.9490 units paid on 6 September 2019 (2019: USD0.029 on 834,842.7080 units paid on 7 September 2018) 146,131 190,030 – USD0.027 on 711,413.1360 units paid on 7 August 2019 (2019: USD0.030 on 851,096.3410 units paid on 7 August 2018) 150,348 200,403 Class A8 – RMB0.024 on 2,487,406.4260 units paid on 5 June 2020 (2019: RMB0.028 on 4,130,785.1520 units paid on 10 June 2019) 64,870 130,695 – RMB0.024 on 2,492,190.8390 units paid on 8 May 2020 (2019: RMB0.028 on 4,362,028.5560 units paid on 8 May 2019) 65,498 142,206 – RMB0.023 on 2,479,565.3380 units paid on 7 April 2020 (2019: RMB0.028 on 4,344,026.0860 units paid on 8 April 2019) 62,300 142,018 – RMB0.027 on 3,736,683.3060 units paid on 6 March 2020 (2019: RMB0.031 on 4,386,093.7470 units paid on 7 March 2019) 112,652 159,355 – RMB0.027 on 3,765,552.7570 units paid on 7 February 2020 (2019: RMB0.031 on 4,392,242.0440 units paid on 12 February 2019) 112,797 159,170 – RMB0.026 on 3,807,630.4380 units paid on 8 January 2020 (2019: RMB0.031 on 4,391,565.8790 units paid on 8 January 2019) 110,771 155,217 – RMB0.026 on 3,817,058.9460 units paid on 6 December 2019 (2019: RMB0.033 on 4,429,241.3030 units paid on 7 December 2018) 110,506 164,546

– 144 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather China Income Fund (Continued)

2020 2019 HKD HKD

Interim distribution (continued) Class A8 (continued) – RMB0.027 on 3,823,717.4990 units paid on 7 November 2019 (2019: RMB0.032 on 4,469,495.8630 units paid on 7 November 2018) 114,768 160,750 – RMB0.026 on 3,877,197.7930 units paid on 9 October 2019 (2019: RMB0.033 on 4,456,690.4750 units paid on 8 October 2018) 110,656 162,357 – RMB0.027 on 3,894,586.3140 units paid on 6 September 2019 (2019: RMB0.034 on 4,488,846.7630 units paid on 7 September 2018) 115,133 174,986 – RMB0.028 on 3,944,448.4600 units paid on 7 August 2019 (2019: RMB0.039 on 4,494,407.8420 units paid on 7 August 2018) 125,238 202,800 5,569,022 7,634,071 Total distributions 5,947,896 8,241,353

– in cash 5,247,298 7,365,751 – for reinvestment 700,598 875,602

The final dividend payable (in cash) to the unitholders as of 30 June 2020 was HKD325,519 (2019: HKD541,295), excluding the dividends for reinvestment of HKD53,355 (2019: HKD65,987).

BOCHK All Weather Asia Pacific High Income Fund

2020 2019 USD USD

Final distribution Class A1 – USD0.034 on 260,022.0830 units paid on 8 July 2020 (2019: USD0.035 on 420,567.8980 units paid on 8 July 2019) 8,841 14,720 Class A2 – HKD0.034 on 6,969,275.7230 units paid on 8 July 2020 (2019: HKD0.035 on 8,582,572.6650 units paid on 8 July 2019) 30,573 38,459 Class A4 – AUD0.032 on 117,501.0970 units paid on 8 July 2020 (2019: AUD0.034 on 89,177.6410 units paid on 8 July 2019) 2,591 2,128 Class A8 – RMB0.034 on 1,518,594.4590 units paid on 8 July 2020 (2019: RMB0.035 on 1,784,172.8900 units paid on 8 July 2019) 7,304 9,093 49,309 64,400

– 145 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather Asia Pacific High Income Fund (Continued)

2020 2019 USD USD

Interim distribution Class A1 – USD0.032 on 256,043.1580 units paid on 5 June 2020 (2019: USD0.034 on 420,492.2580 units paid on 10 June 2019) 8,193 14,297 – USD0.032 on 255,385.4780 units paid on 8 May 2020 (2019: USD0.035 on 425,051.1240 units paid on 8 May 2019) 8,172 14,877 – USD0.031 on 261,946.2120 units paid on 7 April 2020 (2019: USD0.035 on 426,953.8470 units paid on 8 April 2019) 8,120 14,943 – USD0.036 on 280,201.9780 units paid on 6 March 2020 (2019: USD0.034 on 426,876.9010 units paid on 7 March 2019) 10,087 14,514 – USD0.036 on 275,113.5730 units paid on 7 February 2020 (2019: USD0.033 on 436,467.5850 units paid on 12 February 2019) 9,904 14,403 – USD0.038 on 327,286.0540 units paid on 8 January 2020 (2019: USD0.033 on 445,034.3070 units paid on 8 January 2019) 12,437 14,686 – USD0.038 on 328,030.2150 units paid on 6 December 2019 (2019: USD0.033 on 447,310.1920 units paid on 7 December 2018) 12,465 14,761 – USD0.037 on 343,032.7290 units paid on 7 November 2019 (2019: USD0.034 on 435,237.7320 units paid on 7 November 2018) 12,692 14,798 – USD0.034 on 371,636.6600 units paid on 9 October 2019 (2019: USD0.035 on 535,519.7670 units paid on 8 October 2018) 12,636 18,743 – USD0.034 on 364,449.5060 units paid on 6 September 2019 (2019: USD0.036 on 590,303.4950 units paid on 7 September 2018) 12,391 21,251 – USD0.035 on 397,927.3270 units paid on 7 August 2019 (2019: USD0.036 on 636,230.8120 units paid on 7 August 2018) 13,927 22,904 Class A2 – HKD0.031 on 6,906,092.2530 units paid on 5 June 2020 (2019: HKD0.034 on 8,673,800.0460 units paid on 10 June 2019) 27,620 37,624 – HKD0.031 on 6,926,342.5630 units paid on 8 May 2020 (2019: HKD0.035 on 8,963,584.0840 units paid on 8 May 2019) 27,704 39,988 – HKD0.030 on 6,935,405.7490 units paid on 7 April 2020 (2019: HKD0.035 on 9,259,297.6630 units paid on 8 April 2019) 26,842 41,283 – HKD0.036 on 7,028,474.3140 units paid on 6 March 2020 (2019: HKD0.034 on 9,553,216.7790 units paid on 7 March 2019) 32,466 41,378 – HKD0.036 on 6,929,746.9370 units paid on 7 February 2020 (2019: HKD0.033 on 9,572,416.6880 units paid on 12 February 2019) 32,131 40,257 – HKD0.038 on 7,809,152.7520 units paid on 8 January 2020 (2019: HKD0.033 on 9,929,782.2040 units paid on 8 January 2019) 38,097 41,838 – HKD0.038 on 7,862,460.4610 units paid on 6 December 2019 (2019: HKD0.033 on 10,035,761.6470 units paid on 7 December 2018) 38,163 42,329 – HKD0.037 on 8,015,187.3360 units paid on 7 November 2019 (2019: HKD0.034 on 10,436,007.1110 units paid on 7 November 2018) 37,836 45,248

– 146 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather Asia Pacific High Income Fund (Continued)

2020 2019 USD USD

Interim distribution (continued) Class A2 (continued) – HKD0.034 on 8,089,185.5460 units paid on 9 October 2019 (2019: HKD0.035 on 11,054,754.8040 units paid on 8 October 2018) 35,085 49,427 – HKD0.034 on 8,079,740.2780 units paid on 6 September 2019 (2019: HKD0.036 on 12,535,325.7100 units paid on 7 September 2018) 35,031 57,493 – HKD0.035 on 8,238,576.7320 units paid on 7 August 2019 (2019: HKD0.036 on 12,980,327.3900 units paid on 7 August 2018) 36,839 59,537 Class A4 – AUD0.030 on 116,229.9110 units paid on 5 June 2020 (2019: AUD0.033 on 91,115.5520 units paid on 10 June 2019) 2,325 2,086 – AUD0.030 on 116,225.7890 units paid on 8 May 2020 (2019: AUD0.035 on 91,071.5700 units paid on 8 May 2019) 2,279 2,247 – AUD0.029 on 112,706.5250 units paid on 7 April 2020 (2019: AUD0.035 on 96,150.7960 units paid on 8 April 2019) 1,994 2,388 – AUD0.035 on 98,677.4440 units paid on 6 March 2020 (2019: AUD0.034 on 96,108.3930 units paid on 7 March 2019) 2,250 2,320 – AUD0.035 on 101,643.5270 units paid on 7 February 2020 (2019: AUD0.033 on 96,067.0670 units paid on 12 February 2019) 2,381 2,305 – AUD0.037 on 90,088.8910 units paid on 8 January 2020 (2019: AUD0.033 on 96,024.3210 units paid on 8 January 2019) 2,341 2,232 – AUD0.037 on 90,084.4230 units paid on 6 December 2019 (2019: AUD0.032 on 95,983.4490 units paid on 7 December 2018) 2,254 2,244 – AUD0.036 on 90,080.1980 units paid on 7 November 2019 (2019: AUD0.033 on 95,941.7450 units paid on 7 November 2018) 2,234 2,239 – AUD0.033 on 90,076.1700 units paid on 9 October 2019 (2019: AUD0.035 on 97,656.7300 units paid on 8 October 2018) 2,006 2,469 – AUD0.033 on 78,821.0790 units paid on 6 September 2019 (2019: AUD0.036 on 97,612.8950 units paid on 7 September 2018) 1,751 2,526 – AUD0.034 on 89,220.3130 units paid on 7 August 2019 (2019: AUD0.036 on 102,482.3600 units paid on 7 August 2018) 2,083 2,744 Class A8 – RMB0.032 on 1,539,570.0160 units paid on 5 June 2020 (2019: RMB0.034 on 1,813,066.0150 units paid on 10 June 2019) 6,907 8,887 – RMB0.032 on 1,539,438.0790 units paid on 8 May 2020 (2019: RMB0.035 on 2,212,600.1260 units paid on 8 May 2019) 6,960 11,493 – RMB0.030 on 1,522,658.6170 units paid on 7 April 2020 (2019: RMB0.035 on 2,238,739.5380 units paid on 8 April 2019) 6,438 11,655 – RMB0.036 on 1,528,342.2380 units paid on 6 March 2020 (2019: RMB0.038 on 2,238,718.4350 units paid on 7 March 2019) 7,883 12,701

– 147 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather Asia Pacific High Income Fund (Continued)

2020 2019 USD USD

Interim distribution (continued) Class A8 (continued) – RMB0.036 on 1,536,255.0800 units paid on 7 February 2020 (2019: RMB0.038 on 2,238,697.1420 units paid on 12 February 2019) 7,903 12,673 – RMB0.038 on 1,659,962.6500 units paid on 8 January 2020 (2019: RMB0.038 on 2,342,295.3470 units paid on 8 January 2019) 9,061 12,957 – RMB0.038 on 1,665,797.4600 units paid on 6 December 2019 (2019: RMB0.038 on 2,347,175.6230 units paid on 7 December 2018) 9,003 12,833 – RMB0.037 on 1,655,202.0910 units paid on 7 November 2019 (2019: RMB0.038 on 2,374,077.2300 units paid on 7 November 2018) 8,686 12,930 – RMB0.034 on 1,772,724.9460 units paid on 9 October 2019 (2019: RMB0.035 on 2,588,384.9740 units paid on 8 October 2018) 8,440 13,175 – RMB0.033 on 1,772,696.7740 units paid on 6 September 2019 (2019: RMB0.039 on 2,602,572.4880 units paid on 7 September 2018) 8,168 14,826 – RMB0.035 on 1,781,738.4690 units paid on 7 August 2019 (2019: RMB0.043 on 2,739,471.9630 units paid on 7 August 2018) 9,034 17,365 601,219 843,874 Total distributions 650,528 908,274

– in cash 611,101 835,016 – for reinvestment 39,427 73,258

The final dividend payable (in cash) to the unitholders as of 30 June 2020 was USD46,142 (2019: USD59,528), excluding the dividends for reinvestment of USD3,166 (2019: USD4,872).

BOCHK All Weather Belt and Road Bond Fund

2020 2019 USD USD

Final distribution Class A1 – USD0.034 on 814,238.1640 units paid on 8 July 2020 27,684 24,454 (2019: USD0.034 on 719,238.1100 units paid on 8 July 2019) Class A2 – HKD0.032 on 7,660,383.3050 units paid on 8 July 2020 (2019: HKD0.034 on 10,509,628.5770 units paid on 8 July 2019) 33,605 45,749 Class A8 – RMB0.035 on 3,104,238.7940 units paid on 8 July 2020 (2019: RMB0.034 on 3,425,663.5650 units paid on 8 July 2019) 15,370 16,959 76,659 87,162

– 148 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather Belt and Road Bond Fund (Continued)

2020 2019 USD USD

Interim distribution Class A1 – USD0.033 on 708,082.0610 units paid on 5 June 2020 23,367 – – USD0.032 on 611,914.5780 units paid on 8 May 2020 20,193 – – USD0.032 on 612,162.4550 units paid on 7 April 2020 19,589 – – USD0.035 on 636,582.8310 units paid on 6 March 2020 22,280 – – USD0.035 on 664,166.6040 units paid on 7 February 2020 23,246 – – USD0.035 on 637,420.0580 units paid on 8 January 2020 22,310 – – USD0.035 on 692,319.8620 units paid on 6 December 2019 24,231 – – USD0.034 on 701,952.0570 units paid on 7 November 2019 23,866 – – USD0.034 on 713,841.1000 units paid on 9 October 2019 24,271 – – USD0.034 on 750,729.0190 units paid on 6 September 2019 25,525 – – USD0.034 on 752,538.5110 units paid on 7 August 2019 25,586 – Class A2 – HKD0.032 on 7,670,279.1540 units paid on 5 June 2020 31,666 – – HKD0.031 on 7,752,603.9810 units paid on 8 May 2020 32,009 – – HKD0.031 on 7,698,051.5630 units paid on 7 April 2020 30,787 – – HKD0.035 on 9,684,559.0930 units paid on 6 March 2020 43,493 – – HKD0.035 on 9,871,577.0780 units paid on 7 February 2020 44,499 – – HKD0.035 on 10,559,188.7050 units paid on 8 January 2020 47,447 – – HKD0.035 on 10,147,920.7090 units paid on 6 December 2019 45,368 – – HKD0.034 on 10,065,897.6360 units paid on 7 November 2019 43,664 – – HKD0.034 on 10,623,093.6260 units paid on 9 October 2019 46,075 – – HKD0.034 on 10,886,904.0370 units paid on 6 September 2019 47,202 – – HKD0.035 on 10,678,520.8310 units paid on 7 August 2019 46,385 – Class A8 – RMB0.033 on 3,081,704.2760 units paid on 5 June 2020 14,257 – – RMB0.032 on 3,176,535.2600 units paid on 8 May 2020 14,811 – – RMB0.032 on 3,161,719.4070 units paid on 7 April 2020 14,259 – – RMB0.035 on 3,108,901.5180 units paid on 6 March 2020 15,589 – – RMB0.035 on 3,119,118.7110 units paid on 7 February 2020 15,599 – – RMB0.035 on 4,610,415.2960 units paid on 8 January 2020 23,180 – – RMB0.035 on 4,856,731.0190 units paid on 6 December 2019 24,177 – – RMB0.034 on 3,156,577.0130 units paid on 7 November 2019 15,222 – – RMB0.034 on 3,189,735.2030 units paid on 9 October 2019 15,186 – – RMB0.034 on 3,465,018.0210 units paid on 6 September 2019 16,449 – – RMB0.034 on 3,470,440.5550 units paid on 7 August 2019 17,094 – 898,880 – Total distributions 975,539 87,162

– in cash 914,581 81,472 – for reinvestment 60,959 5,690

The final dividend payable (in cash) to the unitholders as of 30 June 2020 was USD71,478 (2019: USD81,495), excluding the dividends for reinvestment of USD5,181 (2019: USD5,667).

– 149 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather Greater Bay Area Strategy Fund

2020 USD

Final distribution Class A1 – USD0.034 on 3,087,758.6500 units paid on 8 July 2020 104,984 Class A2 – HKD0.034 on 56,955,907.6870 units paid on 8 July 2020 249,855 Class A3 – MOP0.034 on 30,859,834.6790 units paid on 8 July 2020 131,439 Class A4 – RMB0.036 on 2,119,356.3850 units paid on 8 July 2020 10,793 Class A11 – RMB0.034 on 11,518,816.8540 units paid on 8 July 2020 55,404 552,475

Interim distribution Class A1 – USD0.033 on 2,982,400.6580 units paid on 5 June 2020 98,419 – USD0.033 on 3,004,359.3570 units paid on 8 May 2020 99,144 – USD0.032 on 3,015,358.4920 units paid on 7 April 2020 96,491 – USD0.035 on 3,042,970.5280 units paid on 6 March 2020 106,504 – USD0.035 on 2,970,681.4870 units paid on 7 February 2020 103,974 – USD0.035 on 2,870,280.6190 units paid on 8 January 2020 100,460 – USD0.035 on 3,244,786.7700 units paid on 6 December 2019 113,568 – USD0.034 on 3,170,765.6330 units paid on 7 November 2019 107,806 – USD0.034 on 3,074,745.5430 units paid on 9 October 2019 104,541 – USD0.034 on 3,159,080.7220 units paid on 6 September 2019 107,409 – USD0.034 on 2,816,659.2960 units paid on 7 August 2019 95,766 Class A2 – HKD0.032 on 53,856,749.2550 units paid on 5 June 2020 222,342 – HKD0.032 on 51,370,078.7280 units paid on 8 May 2020 212,095 – HKD0.032 on 50,102,408.9660 units paid on 7 April 2020 206,837 – HKD0.035 on 67,628,503.4430 units paid on 6 March 2020 303,715 – HKD0.035 on 60,959,627.2770 units paid on 7 February 2020 274,796 – HKD0.035 on 59,654,759.0900 units paid on 8 January 2020 268,053 – HKD0.035 on 55,911,834.4610 units paid on 6 December 2019 249,964 – HKD0.034 on 52,998,173.1600 units paid on 7 November 2019 229,898 – HKD0.034 on 43,284,254.8770 units paid on 9 October 2019 187,734 – HKD0.034 on 39,076,557.6070 units paid on 6 September 2019 169,421 – HKD0.034 on 38,014,063.4350 units paid on 7 August 2019 165,124

– 150 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

16 Distribution to Unitholders (Continued)

BOCHK All Weather Greater Bay Area Strategy Fund (Continued)

2020 USD

Interim distribution (continued) Class A3 – MOP0.032 on 30,597,208.2810 units paid on 5 June 2020 122,613 – MOP0.032 on 30,241,780.6760 units paid on 8 May 2020 121,220 – MOP0.032 on 30,077,936.3350 units paid on 7 April 2020 120,509 – MOP0.035 on 31,491,455.7330 units paid on 6 March 2020 137,248 – MOP0.035 on 29,897,668.0520 units paid on 7 February 2020 130,699 – MOP0.035 on 29,808,923.6870 units paid on 8 January 2020 130,063 – MOP0.035 on 29,318,731.6760 units paid on 6 December 2019 127,269 – MOP0.034 on 28,774,650.8030 units paid on 7 November 2019 121,198 – MOP0.034 on 27,863,692.4350 units paid on 9 October 2019 117,299 – MOP0.034 on 27,076,725.6250 units paid on 6 September 2019 113,910 – MOP0.034 on 26,497,737.0700 units paid on 7 August 2019 111,791 Class A4 – RMB0.035 on 1,816,162.5410 units paid on 5 June 2020 8,911 – RMB0.035 on 1,812,375.3750 units paid on 8 May 2020 8,962 – RMB0.034 on 1,817,726.5890 units paid on 7 April 2020 8,710 – RMB0.037 on 1,968,346.5050 units paid on 6 March 2020 10,434 – RMB0.037 on 1,884,284.4460 units paid on 7 February 2020 9,962 – RMB0.037 on 1,847,650.7330 units paid on 8 January 2020 9,820 – RMB0.037 on 1,882,977.9530 units paid on 6 December 2019 9,909 – RMB0.036 on 1,810,988.2570 units paid on 7 November 2019 9,247 – RMB0.036 on 1,508,633.1280 units paid on 9 October 2019 7,605 – RMB0.036 on 1,490,390.0590 units paid on 6 September 2019 7,491 – RMB0.035 on 1,483,879.0800 units paid on 7 August 2019 7,524 Class A11 – RMB0.033 on 11,367,941.5770 units paid on 5 June 2020 52,591 – RMB0.033 on 10,724,300.8900 units paid on 8 May 2020 50,002 – RMB0.032 on 10,624,961.9020 units paid on 7 April 2020 47,916 – RMB0.035 on 13,035,963.6630 units paid on 6 March 2020 65,368 – RMB0.035 on 12,094,739.6030 units paid on 7 February 2020 60,488 – RMB0.035 on 11,298,860.2970 units paid on 8 January 2020 56,808 – RMB0.035 on 10,846,900.6060 units paid on 6 December 2019 53,996 – RMB0.035 on 8,422,232.905 units paid on 7 November 2019 41,808 – RMB0.034 on 37,596,996.1020 units paid on 9 October 2019 36,169 – RMB0.034 on 6,782,870.3890 units paid on 6 September 2019 32,199 – RMB0.034 on 6,070,642.2130 units paid on 7 August 2019 29,901 5,603,701 Total distributions 6,156,176 in cash 4,866,975 for reinvestment 1,289,201

The final dividend payable (in cash) to the unitholders as of 30 June 2020 was USD414,763, excluding the dividends for reinvestment of USD137,712.

– 151 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

17 Cross Trading with Another Collective Investment Fund Managed by the Manager

During the year ended 30 June 2020, BOCHK All Weather China High Yield Bond Fund, BOCHK All Weather Short Term Bond Fund and BOCHK All Weather Greater Bay Area Strategy Fund undertook the sales of bonds amounting to USD9.2 million (2019: USD65 million), USD1.2 million (2019:nil) and CNH25 million (2019:nil) from an investment fund managed by the Manager.

In the opinion of the Manager, such sales of bonds during the year ended 30 June 2020 and 2019 was in the best interests of BOCHK All Weather China High Yield Bond Fund, BOCHK All Weather Short Term Bond Fund and BOCHK All Weather Greater Bay Area Strategy Fund and the sales was executed on arm’s length terms at the fair value of the bonds on the transaction dates. The sales were made to increase the liquidity of BOCHK All Weather China High Yield Bond Fund, BOCHK All Weather Short Term Bond Fund and BOCHK All Weather Greater Bay Area Strategy Fund.

18 Events After the Reporting Period

(a) The outbreak of Coronavirus Disease (“COVID-19 outbreak”) in early 2020 has had significant impact on global financial markets. The Manager will pay close attention to the development of the COVID-19 outbreak and evaluate its impact on the financial position and operating results of the Sub-Funds.

(b) Subsequent to the year ended 30 June 2020, BOCHK All Weather China High Yield Bond Fund, BOCHK All Weather Asian Bond Fund, BOCHK All Weather China Income Fund, BOCHK All Weather Asia Pacific High Income Fund, BOCHK All Weather Belt and Road Bond Fund and BOCHK All Weather Greater Bay Area Strategy Fund made the following interim distributions:

BOCHK All Weather China High Yield Bond Fund

Class A1 – RMB6,181,680 at RMB0.13 per units paid on 15 October 2020 Class A2 – USD112,994 at USD0.12 per units paid on 15 October 2020 Class A3 – HKD4,557,523 at HKD0.12 per units paid on 15 October 2020 Class A4 – AUD75,537 at AUD0.13 per units paid on 15 October 2020 Class A8 – USD394,152 at USD0.12 per units paid on 15 October 2020

BOCHK All Weather Asian Bond

Class A1 – USD216,220 at USD0.034 per units paid on 7 August 2020 – USD235,919 at USD0.034 per units paid on 7 September 2020 – USD239,680 at USD0.034 per units paid on 9 October 2020 Class A2 – HKD1,455,528 at HKD0.034 per units paid on 7 August 2020 – HKD1,573,374 at HKD0.034 per units paid on 7 September 2020 – HKD1,604,488 at HKD0.034 per units paid on 9 October 2020 Class A7 – RMB583,722 at RMB0.036 per units paid on 7 August 2020 – RMB608,886 at RMB0.036 per units paid on 7 September 2020 – RMB644,242 at RMB0.036 per units paid on 9 October 2020

– 152 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

18 Events After the Reporting Period (Continued)

BOCHK All Weather China Income Fund

Class A1 – HKD253,769 at HKD0.024 per units paid on 7 August 2020 – HKD251,636 at HKD0.024 per units paid on 7 September 2020 – HKD248,969 at HKD0.024 per units paid on 9 October 2020 Class A2 – USD7,205 at USD0.024 per units paid on 7 August 2020 – USD7,227 at USD0.024 per units paid on 7 September 2020 – USD6,975 at USD0.024 per units paid on 9 October 2020 Class A7 – RMB59,587 at RMB0.024 per units paid on 7 August 2020 – RMB58,745 at RMB0.024 per units paid on 7 September 2020 – RMB53,109 at RMB0.024 per units paid on 9 October 2020

BOCHK All Weather Asia Pacific High Income Fund

Class A1 – USD9,866 at USD0.034 per units paid on 7 August 2020 – USD10,111 at USD0.034 per units paid on September 2020 – USD10,226 at USD0.035 per units paid on 9 October 2020 Class A2 – HKD233,792 at HKD0.034 per units paid on 7 August 2020 – HKD236,125 at HKD0.034 per units paid on 7 September 2020 – HKD236,977 at HKD0.035 per units paid on 9 October 2020 Class A4 – AUD3,760 at AUD0.032 per units paid on 7 August 2020 – AUD3,761 at AUD0.032 per units paid on 7 September 2020 – AUD3,879 at AUD0.033 per units paid on 9 October 2020 Class A8 – RMB51,429 at RMB0.034 per units paid on 7 August 2020 – RMB54,456 at RMB0.034 per units paid on 7 September 2020 – RMB56,550 at RMB0.035 per units paid on 9 October 2020

– 153 – BOCHK WEALTH CREATION SERIES

NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2020

18 Events After the Reporting Period (Continued)

BOCHK All Weather Belt and Road Bond Fund

Class A1 – USD27,909 at USD0.034 per units paid on 7 August 2020 – USD31,142 at USD0.034 per units paid on 7 September 2020 – USD31,956 at USD0.034 per units paid on 9 October 2020 Class A2 – HKD254,507 at HKD0.034 per units paid on 7 August 2020 – HKD263,158 at HKD0.034 per units paid on 7 September 2020 – HKD260,195 at HKD0.033 per units paid on 9 October 2020 Class A8 – RMB110,947 at RMB0.035 per units paid on 7 August 2020 – RMB114,290 at RMB0.035 per units paid on 7 September 2020 – RMB111,243 at RMB0.034 per units paid on 9 October 2020

BOCHK All Weather Greater Bay Area Strategy Fund

Class A1 – USD109,707 at USD0.034 per units paid on 7 August 2020 – USD128,892 at USD0.034 per units paid on 7 September 2020 – USD135,949 at USD0.034 per units paid on 9 October 2020 Class A2 – HKD2,080,527 at HKD0.034 per units paid on 7 August 2020 – HKD2,155,345 at HKD0.034 per units paid on 7 September 2020 – HKD2,131,185 at HKD0.033 per units paid on 9 October 2020 Class A3 – MOP1,065,459 at MOP0.034 per units paid on 7 August 2020 – MOP1,123,077 at MOP0.034 per units paid on 7 September 2020 – MOP593,525 at MOP0.033 per units paid on 9 October 2020 Class A4 – RMB76,141 at RMB0.036 per units paid on 7 August 2020 – RMB81,892 at RMB0.036 per units paid on 7 September 2020 – RMB85,575 at RMB0.034 per units paid on 9 October 2020 Class A11 – RMB398,973 at RMB0.034 per units paid on 7 August 2020 – RMB427,094 at RMB0.034 per units paid on 7 September 2020 – RMB420,230 at RMB0.034 per units paid on 9 October 2020

19 Approval of Financial Statements

The financial statements were approved by the Trustee and the Manager on 28 October 2020.

– 154 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GLOBAL OPPORTUNITIES FUND

INVESTMENT PORTFOLIO (UNAUDITED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments nominal value USD assets

COLLECTIVE INVESTMENT SCHEMES

Hong Kong BOCHK WEALTH CREATION SERIES-BOCHK ALL WEATHER ASIA EX-JAPAN EQUITY FUND-X1 50,000 553,000 7.43% BOCHK WEALTH CREATION SERIES-BOCHK ALL WEATHER HONG KONG EQUITY FUND-X1 404,984 506,329 6.80% 1,059,329 14.23%

United States INVESCO QQQ TRUST SERIES 1 1,500 371,400 4.99% ISHARES CORE S&P 500 ETF 1,065 329,820 4.43% ISHARES MSCI CHINA ETF 4,000 261,800 3.52% SPDR DOW JONES INDUSTRIAL AVERAGE ETF TRUST 900 232,083 3.12% VANGUARD FTSE DEVELOPED MARKETS ETF 2,000 77,580 1.04% VANGUARD FTSE EMERGING MARKETS ETF 600 23,766 0.32% 1,296,449 17.42% 2,355,778 31.65%

DEPOSIT RECEIPT

United States ALIBABA GROUP HLDG LTD-SPONSORED ADR 600 129,420 1.74% 129,420 1.74%

EQUITY SECURITIES

Hong Kong TENCENT HLDGS LTD 5,000 321,656 4.32% 321,656 4.32%

– 155 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GLOBAL OPPORTUNITIES FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

FIXED RATE DEBT SECURITIES

Australia WESTPAC BANKING CORP 4.421% S/A 24JUL2039 200,000 239,854 3.22% 239,854 3.22%

British Virgin Island CHINALCO CAPITAL HLDGS LTD 4.1% S/A PERP 200,000 203,744 2.74% FRANSHION BRILLIANT LTD 4.25% S/A 23JUL2029 200,000 205,431 2.76% JOY TREASURE ASSETS HLDGS INC 4.5% S/A 20MAR2029 200,000 231,199 3.11% SUNNY EXPRESS ENTERPRISES CORP 3.35% S/A PERP 200,000 201,752 2.71% 842,126 11.32%

Cayman Island CENTRAL CHINA REAL ESTATE LTD 7.9% S/A 07NOV2023 200,000 202,052 2.71% CHINA STATE CONSTRUCTION FINANCE CAYMAN III LTD 4% S/A PERP 200,000 201,384 2.70% KAISA GROUP HLDGS LTD 11.95% S/A 22OCT2022 REGS 400,000 426,197 5.72% POWERLONG REAL ESTATE HLDGS LTD 7.125% S/A 08NOV2022 200,000 204,864 2.75% ZHENRO PROPERTIES GROUP LTD 7.875% S/A 14APR2024 200,000 197,950 2.66% 1,232,447 16.54%

France BNP PARIBAS SA 4.5% S/A PERP REGS 200,000 179,496 2.41% BNP PARIBAS SA 6.625% S/A PERP REGS 200,000 207,947 2.79% 387,443 5.20%

India ADANI PORTS & SPECIAL ECONOMIC ZONE LTD 4.375% S/A 03JUL2029 REGS 200,000 201,114 2.70% 201,114 2.70%

– 156 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GLOBAL OPPORTUNITIES FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

FIXED RATE DEBT SECURITIES (CONTINUED)

Indonesia PERTAMINA PERSERO 4.175% S/A 21JAN2050 REGS 200,000 202,613 2.72% 202,613 2.72%

Netherlands ING GROEP NV 5.75% S/A PERP 200,000 201,130 2.70% 201,130 2.70%

Sweden SKANDINAVISKA ENSKILDA BANKEN AB 5.125% S/A PERP 200,000 196,185 2.63% 196,185 2.63%

United Kingdom PHOENIX GROUP HLDGS PLC 5.625% S/A PERP 200,000 196,387 2.64% STANDARD CHARTERED PLC 3.516% S/A 12FEB2030 200,000 207,958 2.79% 404,345 5.43% 3,907,257 52.46%

FOREIGN CURRENCY FORWARD CONTRACTS

Buy AUD13,149 and Sell USD9,055.39 – 6 0.00% 6 0.00%

TOTAL LISTED/QUOTED INVESTMENTS 6,714,117 90.17%

OTHER NET ASSETS 731,729 9.83% NET ASSETS AS AT 30 June 2020 (AT TRADING VALUE) 7,445,846 100.00%

TOTAL INVESTMENTS, AT COST 6,236,433

Note: Investments are accounted for on a trade-date basis.

– 157 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA HIGH YIELD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments nominal value RMB assets

COLLECTIVE INVESTMENT SCHEME

Luxembourg BOC (EUROPE) UCITS SICAV – BOCHK RMB HIGH YIELD BOND FUND-CD USD HEDGED 10,774 7,413,405 0.53% 7,413,405 0.53%

DEBT SECURITIES

Australia MACQUARIE BANK LTD/LONDON 6.125% S/A PERP REGS 1,000,000 17,183,567 0.51%

Bermuda CHINA OIL AND GAS GROUP LTD 5.5% S/A 25JAN2023 1,700,000 12,251,451 0.88%

British Virgin Islands ENN CLEAN ENERGY INTL INVESTMENT LTD 7.5% S/A 27FEB2021 2,100,000 15,402,088 1.10% EXCEL CAPITAL GLOBAL LTD 7% S/A PERP 4,000,000 28,625,970 2.04% FORTUNE STAR BVI LTD 6.85% S/A 02JUL2024 800,000 5,732,175 0.41% GREENLAND GLOBAL INVESTMENT LTD 6.25% S/A 16DEC2022 1,000,000 7,127,430 0.51% HONG SENG LTD 9.875% S/A 27AUG2022 1,000,000 6,967,532 0.50% HOPSON CAPITAL INTL GROUP CO LTD 6% S/A 17FEB2021 500,000 3,592,541 0.26% MACROLINK GLOBAL DEVELOPMENT LTD 9.5% S/A 04JAN2021 7,500,000 34,462,607 2.46% RKPF OVERSEAS 2019 A LTD 6.7% S/A 30SEP2024 2,150,000 15,702,584 1.12% SCENERY JOURNEY LTD 11% S/A 06NOV2020 6,400,000 46,358,912 3.31% SCENERY JOURNEY LTD 11.5% S/A 24OCT2022 1,000,000 7,040,757 0.50% SHANDONG IRON AND STEEL XINHENG INTL CO LTD 6.5% S/A 14JUN2021 250,000 1,780,312 0.13% SHANDONG IRON AND STEEL XINHENG INTL CO LTD 6.85% S/A 25SEP2022 500,000 3,579,982 0.26% STANDARD CHARTERED PLC 6% S/A PERP 1,000,000 7,079,851 0.51%

– 158 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA HIGH YIELD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value RMB assets

DEBT SECURITIES (CONTINUED)

British Virgin Islands (Continued) STUDIO CITY CO LTD 7.25% S/A 30NOV2021 REGS 1,000,000 7,203,482 0.51% TONGFANG AQUA LTD 6.8% S/A 10JAN2022 1,500,000 10,584,326 0.76% TUSPARK FORWARD LTD 7.9% S/A 07MAR2021 500,000 2,420,487 0.17% WANDA PROPERTIES OVERSEAS LTD 6.875% S/A 23JUL2023 1,500,000 10,440,585 0.75% WANDA PROPERTIES OVERSEAS LTD 6.95% S/A 05DEC2022 3,300,000 22,976,421 1.64% YINGDE GASES INVESTMENT LTD 6.25% S/A 19JAN2023 REGS 1,000,000 7,451,257 0.53% 244,529,299 17.47%

Cayman 21VIANET GROUP INC 7.875% S/A 15OCT2021 2,750,000 20,035,497 1.43% AGILE GROUP HLDGS LTD 7.75% S/A PERP 600,000 4,141,610 0.30% AGILE GROUP HLDGS LTD 7.875% S/A PERP 2,900,000 20,902,156 1.49% AGILE GROUP HLDGS LTD 8.375% S/A PERP 2,500,000 17,836,548 1.27% ANTON OILFIELD SERVICES GROUP/HONG KONG 9.75% S/A 05DEC2020 1,250,000 8,058,535 0.57% CENTRAL CHINA REAL ESTATE LTD 6.75% S/A 08NOV2021 3,750,000 26,690,574 1.91% CENTRAL CHINA REAL ESTATE LTD 6.875% S/A 08AUG2022 450,000 3,239,455 0.23% CENTRAL CHINA REAL ESTATE LTD 7.65% S/A 27AUG2023 2,000,000 14,078,363 1.00% CENTRAL CHINA REAL ESTATE LTD 7.9% S/A 07NOV2023 2,000,000 14,282,652 1.02% CFLD CAYMAN INVESTMENT LTD 7.125% S/A 08APR2022 2,000,000 14,473,185 1.03% CFLD CAYMAN INVESTMENT LTD 9% S/A 31JUL2021 1,000,000 7,519,012 0.54% CHINA AOYUAN GROUP LTD 6.35% S/A 08FEB2024 1,500,000 10,530,780 0.75% CHINA AOYUAN GROUP LTD 7.95% S/A 19FEB2023 2,320,000 17,544,473 1.25%

– 159 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA HIGH YIELD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value RMB assets

DEBT SECURITIES (CONTINUED)

Cayman (Continued) CHINA AOYUAN GROUP LTD 8.5% S/A 23JAN2022 1,500,000 11,361,388 0.81% CHINA HONGQIAO GROUP LTD 7.125% S/A 22JUL2022 1,500,000 10,141,099 0.72% CHINA SCE GROUP HLDGS LTD 7.25% S/A 19APR2023 4,000,000 28,694,804 2.05% CHINA SCE GROUP HLDGS LTD 7.375% S/A 09APR2024 700,000 4,962,503 0.35% CHINA SCE PROPERTY HLDGS LTD 5.875% S/A 10MAR2022 4,200,000 29,810,821 2.13% CIFI HLDGS GROUP CO LTD 6.45% S/A 07NOV2024 500,000 3,634,618 0.26% CIFI HLDGS GROUP CO LTD 6.55% S/A 28MAR2024 1,500,000 11,100,711 0.79% COUNTRY GARDEN HLDGS CO LTD 6.15% S/A 17SEP2025 2,550,000 19,485,621 1.39% COUNTRY GARDEN HLDGS CO LTD 7.25% S/A 08APR2026 2,250,000 17,611,946 1.26% DEXIN CHINA HLDGS CO LTD 11.875% S/A 23APR2022 200,000 1,409,092 0.10% GOLDEN EAGLE RETAIL GROUP LTD 4.625% S/A 21MAY2023 REGS 750,000 4,956,831 0.35% GOLDEN WHEEL TIANDI HLDGS CO LTD 7% S/A 18JAN2021 3,250,000 23,386,997 1.67% GRANDA CENTURY LTD 7.5% S/A 11SEP2021 500,000 3,574,574 0.26% HEALTH AND HAPPINESS H&H INTL HLDGS LTD 5.625% S/A 24OCT2024 1,400,000 10,229,715 0.73% HONGHUA GROUP LTD 6.375% S/A 01AUG2022 2,333,000 16,647,067 1.19% KAISA GROUP HLDGS LTD 11.75% S/A 26FEB2021 5,000,000 37,841,005 2.70% KAISA GROUP HLDGS LTD 11.95% S/A 22OCT2022 REGS 1,000,000 7,531,765 0.54% KAISA GROUP HLDGS LTD 7.875% S/A 09JUN2021 2,000,000 14,263,478 1.02% KWG GROUP HLDGS LTD 5.2% S/A 21SEP2022 1,000,000 7,058,370 0.50%

– 160 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA HIGH YIELD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value RMB assets

DEBT SECURITIES (CONTINUED)

Cayman (Continued) KWG GROUP HLDGS LTD 5.875% S/A 10NOV2024 250,000 1,711,026 0.12% KWG GROUP HLDGS LTD 7.4% S/A 05MAR2024 500,000 3,693,923 0.26% KWG GROUP HLDGS LTD 7.875% S/A 01SEP2023 6,750,000 50,795,796 3.63% LOGAN PROPERTY HLDGS CO LTD 5.75% S/A 14JAN2025 1,750,000 12,675,004 0.90% LOGAN PROPERTY HLDGS CO LTD 6.5% S/A 16JUL2023 3,000,000 22,416,260 1.60% MELCO RESORTS FINANCE LTD 5.625% S/A 17JUL2027 REGS 500,000 3,668,089 0.26% MGM CHINA HLDGS LTD 5.875% S/A 15MAY2026 REGS 200,000 1,472,808 0.11% POWERLONG REAL ESTATE HLDGS LTD 6.95% S/A 23JUL2023 5,000,000 36,584,673 2.61% POWERLONG REAL ESTATE HLDGS LTD 7.125% S/A 08NOV2022 2,200,000 15,929,563 1.14% REDCO PROPERTIES GROUP LTD 11.5% S/A 08DEC2020 1,500,000 10,568,828 0.75% REDSUN PROPERTIES GROUP LTD 13.5% S/A 03DEC2020 500,000 3,658,245 0.26% RONSHINE CHINA HLDGS LTD 10.5% S/A 01MAR2022 2,500,000 19,391,839 1.38% RONSHINE CHINA HLDGS LTD 11.25% S/A 22AUG2021 1,500,000 11,614,348 0.83% RONSHINE CHINA HLDGS LTD 8.1% S/A 09JUN2023 2,250,000 16,460,991 1.17% RONSHINE CHINA HLDGS LTD 8.75% S/A 25OCT2022 1,000,000 7,491,102 0.53% RONSHINE CHINA HLDGS LTD 8.95% S/A 22JAN2023 500,000 3,843,445 0.27% SHIMAO PROPERTY HLDGS LTD 5.6% S/A 15JUL2026 3,250,000 24,834,513 1.77% SINIC HLDGS GROUP CO LTD 10.5% S/A 18JUN2022 1,000,000 7,006,324 0.50% SUNAC CHINA HLDGS LTD 6.5% S/A 10JAN2025 1,000,000 7,060,494 0.50%

– 161 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA HIGH YIELD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value RMB assets

DEBT SECURITIES (CONTINUED)

Cayman (Continued) SUNAC CHINA HLDGS LTD 7.25% S/A 14JUN2022 3,000,000 21,638,663 1.55% SUNAC CHINA HLDGS LTD 7.875% S/A 15FEB2022 4,750,000 35,472,546 2.53% SUNAC CHINA HLDGS LTD 8.35% S/A 19APR2023 3,500,000 25,956,316 1.85% TIMES CHINA HLDGS LTD 6.6% S/A 02MAR2023 4,000,000 28,892,825 2.06% TIMES CHINA HLDGS LTD 6.75% S/A 16JUL2023 3,000,000 22,252,671 1.59% WYNN MACAU LTD 4.875% S/A 01OCT2024 REGS 1,000,000 7,048,424 0.50% YUZHOU PROPERTIES CO LTD 7.7% S/A 20FEB2025 2,100,000 14,965,603 1.07% YUZHOU PROPERTIES CO LTD 8.3% S/A 27MAY2025 2,000,000 14,113,126 1.01% YUZHOU PROPERTIES CO LTD 8.375% S/A 30OCT2024 500,000 3,631,352 0.26% YUZHOU PROPERTIES CO LTD 8.5% S/A 04FEB2023 4,000,000 30,449,798 2.17% YUZHOU PROPERTIES CO LTD 8.5% S/A 26FEB2024 700,000 5,221,268 0.37% ZHENRO PROPERTIES GROUP LTD 10.25% S/A PERP 1,500,000 11,013,190 0.79% ZHENRO PROPERTIES GROUP LTD 12.5% S/A 02JAN2021 500,000 3,760,823 0.27% ZHENRO PROPERTIES GROUP LTD 7.875% S/A 14APR2024 400,000 2,798,541 0.20% ZHENRO PROPERTIES GROUP LTD 8% S/A 16NOV2020 23,000,000 23,277,928 1.66% ZHENRO PROPERTIES GROUP LTD 8.35% S/A 10MAR2024 400,000 2,815,893 0.20% ZHENRO PROPERTIES GROUP LTD 8.7% S/A 03AUG2022 3,500,000 25,827,828 1.84% 983,049,311 70.12%

– 162 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA HIGH YIELD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value RMB assets

DEBT SECURITIES (CONTINUED)

Hong Kong CHALIECO HONG KONG CORP LTD 5% S/A PERP 1,000,000 7,081,705 0.51% YANGO JUSTICE INTL LTD 12% S/A 02JUL2020 2,300,000 17,257,255 1.23% YANGO JUSTICE INTL LTD 7.5% S/A 16NOV2020 1,250,000 8,943,048 0.64% YANGO JUSTICE INTL LTD 9.5% S/A 03APR2021 200,000 1,468,857 0.10% YANLORD LAND HK CO LTD 5.875% S/A 23JAN2022 250,000 1,817,538 0.13% YANLORD LAND HK CO LTD 6.8% S/A 27FEB2024 1,950,000 13,974,274 1.00% ZOOMLION HK SPV CO LTD 6.125% S/A 20DEC2022 REGS 250,000 1,807,990 0.13% 52,350,667 3.74%

India INDIA INFOLINE FINANCE LTD 5.875% S/A 20APR2023 400,000 2,296,135 0.16% MANAPPURAM FINANCE LTD 5.9% S/A 13JAN2023 850,000 5,813,765 0.41% NEERG ENERGY LTD 6% S/A 13FEB2022 REGS 750,000 5,379,321 0.38% 13,489,221 0.95%

Indonesia BAYAN RESOURCES TBK 6.125% S/A 24JAN2023 REGS 650,000 4,395,042 0.31% BUKIT MAKMUR MANDIRI UTAMA 7.75% S/A 13FEB2022 REGS 300,000 1,834,371 0.13% 6,229,413 0.44%

Malaysia SD INTL SUKUK LTD 6.3% S/A 09MAY2022 600,000 3,403,118 0.24%

– 163 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA HIGH YIELD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value RMB assets

DEBT SECURITIES (CONTINUED)

Mauritius AZURE POWER SOLAR ENERGY PVT LTD 5.65% S/A 24DEC2024 REGS 500,000 3,576,702 0.26% UPL CORP LTD 5.25% S/A PERP 750,000 4,972,017 0.35% 8,548,719 0.61%

Philippines SMC GLOBAL POWER HLDGS CORP 6.5% S/A PERP 200,000 1,415,551 0.10%

Singapore GOLDEN LEGACY PTE LTD 6.875% S/A 27MAR2024 REGS 992,000 6,784,361 0.48% INDIKA ENERGY CAPITAL III PTE LTD 5.875% S/A 09NOV2024 REGS 2,500,000 16,053,353 1.15% LMIRT CAPITAL PTE LTD 7.25% S/A 16JUN2024 500,000 3,173,314 0.23% MEDCO BELL PTE LTD 6.375% S/A 30JAN2027 REGS 300,000 1,856,450 0.13% MEDCO OAK TREE PTE LTD 7.375% S/A 14MAY2026 REGS 600,000 3,979,035 0.28% MEDCO PLATINUM ROAD PTE LTD 6.75% S/A 30JAN2025 REGS 1,500,000 10,190,974 0.73% THETA CAPITAL PTE LTD 8.125% S/A 22JAN2025 500,000 3,298,357 0.24% 45,335,844 3.24%

Sri Lanka SRI LANKA GOVERNMENT INTL BOND 6.75% S/A 18APR2028 REGS 900,000 4,265,524 0.30% 1,382,051,685 98.60%

– 164 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA HIGH YIELD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value RMB assets

FOREIGN CURRENCY FORWARDS

Buy RMB1,378,622,699.93 and Sell USD194,547,605.93 – 1,062,878 0.08% Buy AUD3,630,232.00 and Sell RMB17,728,818.81 – (14,973) (0.00%) Buy USD30,569,601.80.00 and Sell RMB216,625,369.24 – (167,031) (0.01%) 880,874 0.07%

TOTAL LISTED/QUOTED INVESTMENTS 1,390,345,964 99.20%

OTHER NET ASSETS 11,179,950 0.80%

NET ASSETS AS AT 30 June 2020 (AT TRADING VALUE) 1,401,525,914 100.00%

TOTAL INVESTMENTS, AT COST 1,358,642,836

– 165 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER HONG KONG EQUITY FUND

INVESTMENT PORTFOLIO (UNAUDITED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments nominal value HKD assets

COLLECTIVE INVESTMENT SCHEME

Hong Kong BOCHK WEALTH CREATION SERIES-BOCHK ALL WEATHER ASIA EX-JAPAN EQUITY FUND-X2 997,009 10,917,248 5.18% 10,917,248 5.18%

EQUITY SECURITIES

Hong Kong AIA GROUP LTD 260,000 18,798,000 8.92% ALIBABA GROUP HLDG LTD 40,000 8,384,000 3.98% ANHUI CONCH CEMENT CO LTD-H 80,000 4,176,000 1.98% ANTA SPORTS PRODUCTS LTD 50,000 3,420,000 1.62% BOC HONG KONG (HLDGS) LTD 120,000 2,958,000 1.40% CHINA CONSTRUCTION BANK CORP-H 2,000,000 12,540,000 5.95% CHINA FEIHE LTD 300,000 4,656,000 2.21% CHINA JINMAO HLDGS GROUP LTD 300,000 1,635,000 0.78% CHINA LITERATURE LTD 30,000 1,566,000 0.74% CHINA MENGNIU DAIRY CO LTD 50,000 1,480,000 0.70% CHINA MERCHANTS BANK CO LTD-H 150,000 5,347,500 2.54% CHINA MOBILE LTD 120,000 6,276,000 2.98% CHINA NATIONAL BUILDING MATERIAL CO LTD-H 200,000 1,650,000 0.78% CHINA OVERSEAS LAND & INVESTMENT LTD 50,000 1,172,500 0.56% CHINA RESOURCES BEER HLDGS CO LTD 50,000 2,160,000 1.02% CHINA RESOURCES LAND LTD 60,000 1,761,000 0.84% CHINA TOWER CORP LTD-H 1,000,000 1,370,000 0.65% CNOOC LTD 600,000 5,172,000 2.45% CSPC PHARMACEUTICAL GROUP LTD 180,000 2,635,200 1.25% GALAXY ENTERTAINMENT GROUP LTD 20,000 1,055,000 0.50% GEELY AUTOMOBILE HLDGS LTD 200,000 2,440,000 1.16% HAIDILAO INTL HLGD LTD 70,000 2,289,000 1.09% HONG KONG EXCHANGES & CLEARING LTD 10,000 3,300,000 1.57% HSBC HLDGS PLC 300,000 10,860,000 5.15% HUATAI SECURITIES CO LTD-H 300,000 3,702,000 1.76% INDUSTRIAL & COMMERCIAL BK OF CHINA-H 2,000,000 9,400,000 4.46% KINGDEE INTL SOFTWARE GROUP CO LTD 150,000 2,703,000 1.28%

– 166 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER HONG KONG EQUITY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value HKD assets

EQUITY SECURITIES (CONTINUED)

Hong Kong (Continued) MEITUAN DIANPING-CLASS B 20,000 3,438,000 1.63% NEW WORLD DEVELOPMENT CO LTD 50,000 1,840,000 0.87% PING AN INSURANCE GROUP CO OF CHINA LTD-H 200,000 15,500,000 7.35% SANDS CHINA LTD 120,000 3,648,000 1.73% SHENZHOU INTL GROUP HLDGS LTD 10,000 934,000 0.44% SINO BIOPHARMACEUTICAL LTD 200,000 2,920,000 1.38% SUN HUNG KAI PROPERTIES LTD 30,000 2,968,500 1.41% SUNNY OPTICAL TECHNOLOGY GROUP CO LTD 40,000 4,960,000 2.35% TENCENT HLDGS LTD 40,000 19,944,000 9.46% WUXI BIOLOGICS CAYMAN INC 15,000 2,127,000 1.01% XIAOMI CORP-CLASS B SHARE 500,000 6,420,000 3.05% YIHAI INTL HLDG LTD 50,000 3,972,500 1.88% ZOOMLION HEAVY INDUSTRY SCIENCE AND TECHNOLOGY CO LTD-H 400,000 2,388,000 1.13% 193,966,200 92.01%

FOREIGN CURRENCY FORWARD CONTRACTS

Buy RMB1,800,686 and Sell HKD1,964,099 – 1,231 0.00% Buy AUD 296,871 and Sell HKD1,449,918 – 136,735 0.06% 137,966 0.06%

TOTAL LISTED/QUOTED INVESTMENTS 205,021,414 97.25%

OTHER NET ASSETS 5,815,900 2.75%

NET ASSETS AS AT 30 June 2020 (AT TRADING VALUE) 210,837,314 100.00%

TOTAL INVESTMENTS, AT COST 205,526,051

Note: Investments are accounted for on a trade-date basis.

– 167 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CNY EQUITY FUND

INVESTMENT PORTFOLIO (UNAUDITED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments nominal value RMB assets

EQUITY SECURITIES

China ANHUI CONCH CEMENT CO LTD-A 140,000 7,407,400 2.78% AUTOBIO DIAGNOSTICS CO LTD-A 33,500 5,441,740 2.04% BEIJING ORIENTAL YUHONG WATERPROOF TECHNOLOGY CO LTD-A 300,000 12,189,000 4.57% BEIJING SINNET TECHNOLOGY CO LTD-A 255,000 6,647,850 2.49% C&S PAPER CO LTD-A 374,000 8,340,200 3.13% CENTRE TESTING INTL SHENZHEN CO LTD-A 500,000 9,880,000 3.70% GIGADEVICE SEMICONDUCTOR BEIJING INC-A 16,800 3,963,288 1.49% GREE ELECTRIC APPLIANCES INC-A 60,000 3,394,200 1.27% GUANGZHOU KINGMED DIAGNOSTICS GROUP CO LTD-A 128,200 11,473,900 4.30% HONGFA TECHNOLOGY CO LTD-A 205,000 8,224,600 3.08% HUNAN XIANGJIA ANIMAL HUSBANDRY CO LTD-A 47,000 4,846,170 1.82% HUNDSUN TECHNOLOGIES INC-A 122,000 13,139,400 4.92% INNER MONGOLIA YILI INDUSTRIAL GROUP CO LTD-A 292,000 9,089,960 3.41% JIANGSU CHANGJIANG ELECTRONICS TECHNOLOGY CO LTD-A 150,000 4,690,500 1.76% JIANGSU HENGRUI MEDICINE CO LTD-A 72,000 6,645,600 2.49% JINYU BIO-TECHNOLOGY CO LTD-A 100,000 2,784,000 1.04% JONJEE HI-TECH INDUSTRIAL AND COMMERCIAL HLDG CO LTD-A 65,000 3,804,450 1.43% KWEICHOW MOUTAI CO LTD-A 5,000 7,314,400 2.74% LOCTEK ERGONOMIC TECHNOLOGY CORP-A 150,000 7,915,500 2.97% LUXSHARE PRECISION INDUSTRY CO LTD-A 135,197 6,942,366 2.60% MANGO EXCELLENT MEDIA CO LTD-A 80,000 5,216,000 1.96% MIDEA GROUP CO LTD-A 80,000 4,783,200 1.79% NANJI E-COMMERCE CO LTD-A 420,000 8,891,400 3.33% SANY HEAVY INDUSTRY CO LTD-A 1,200,000 22,512,000 8.44% SHANDONG LINGLONG TYRE CO LTD-A 344,000 6,948,800 2.60% SHENZHEN ANCHE TECHNOLOGIES CO LTD-A 150,000 9,532,500 3.57% SHENZHEN KANGTAI BIOLOGICAL PRODUCTS CO LTD-A 21,000 3,405,360 1.28% SHENZHEN SUNWAY COMMUNICATION CO LTD-A 165,000 8,748,300 3.28% SINOMA SCIENCE & TECHNOLOGY CO LTD-A 468,000 7,254,000 2.72%

– 168 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CNY EQUITY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value RMB assets

EQUITY SECURITIES (CONTINUED)

China (Continued) THREE SQUIRRELS INC-A 33,000 2,507,340 0.94% TOPCHOICE MEDICAL INVESTMENT CORP-A 34,800 5,803,596 2.18% VATS LIQUOR CHAIN STORE MANAGEMENT JOINT STOCK CO LTD-A 90,000 2,916,000 1.09% WULIANGYE YIBIN CO LTD-A 36,000 6,160,320 2.31% WUXI APPTEC CO LTD-A 91,000 8,790,600 3.29% YANTAI JEREH OILFIELD SERVICES GROUP CO LTD-A 100,000 3,100,000 1.16% YOUYOU FOODS CO LTD-A 135,000 2,724,300 1.02% ZHEJIANG NHU CO LTD-A 113,000 3,288,300 1.23% ZTE CORP-A 140,000 5,618,200 2.11% 262,334,740 98.33%

FOREIGN CURRENCY FORWARD CONTRACTS Buy HKD9,665,253.00 and Sell CNY 8,882,367.51 (26,814) (0.01%) (26,814) (0.01%)

TOTAL LISTED/QUOTED INVESTMENTS 262,307,926 98.32%

OTHER NET ASSETS 4,488,720 1.68%

NET ASSETS AS AT 30 June 2020 (AT TRADING VALUE) 266,796,646 100.00%

TOTAL INVESTMENTS, AT COST 186,627,521

Note: Investments are accounted for on a trade-date basis.

– 169 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments nominal value USD assets

COLLECTIVE INVESTMENT SCHEME

Australia QIC PING AN CHINA CORPORATE BOND FUND-CL C-USD 1,197,775 1,184,120 0.69%

Hong Kong BOCHK WEALTH CREATION SERIES-BOCHK ALL WEATHER SHORT TERM BOND FUND-X1 288,362 3,024,886 1.76% 4,209,006 2.45%

DEBT SECURITIES

Australia AUSTRALIA & NEW ZEALAND BANKING GROUP LTD/UK 6.75% S/A PERP REGS 500,000 558,280 0.32% MACQUARIE BANK LTD 3.624% S/A 03JUN2030 REGS 230,000 242,845 0.14% NEWCASTLE COAL INFRASTRUCTURE GROUP PTY LTD 4.4% S/A 29SEP2027 REGS 300,000 292,921 0.17% SANTOS FINANCE LTD 4.125% S/A 14SEP2027 300,000 311,604 0.18% SANTOS FINANCE LTD 5.25% S/A 13MAR2029 1,000,000 1,093,020 0.63% WESTPAC BANKING CORP 4.11% S/A 24JUL2034 500,000 559,532 0.33% WESTPAC BANKING CORP 4.421% S/A 24JUL2039 500,000 599,635 0.35% 3,657,837 2.12%

Bermuda CHINA OIL AND GAS GROUP LTD 5.5% S/A 25JAN2023 500,000 509,757 0.30% HAITONG INTL SECURITIES GROUP LTD 3.375% S/A 19JUL2024 1,000,000 1,051,247 0.61% KUNLUN ENERGY CO LTD 3.75% S/A 13MAY2025 REGS 200,000 218,012 0.13% 1,779,016 1.04%

– 170 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

British Virgin Islands AMBER TREASURE VENTURES LTD 3.15% S/A 21JUL2020 500,000 507,285 0.29% BLUESTAR FINANCE HLDGS LTD 3.375% S/A 16JUL2024 500,000 523,529 0.30% BLUESTAR FINANCE HLDGS LTD 3.875% S/A PERP 500,000 499,537 0.29% CCCI TREASURE LTD 3.425% S/A PERP 1,200,000 1,208,074 0.70% CCCI TREASURE LTD 3.65% S/A PERP 640,000 645,216 0.37% CENTRAL PLAZA DEVELOPMENT LTD 5.75% S/A PERP 700,000 687,622 0.40% CHAMPION SINCERITY HLDGS LTD 8.125% S/A PERP 380,000 398,420 0.23% CHINA CINDA FINANCE 2017 I LTD 4.4% S/A 09MAR2027 500,000 563,764 0.33% CHINA CINDA FINANCE 2017 I LTD 4.75% S/A 21FEB2029 370,000 437,911 0.25% CHINA GREAT WALL INTL HLDGS III LTD 3.875% S/A 31AUG2027 300,000 323,038 0.19% CHINA GREAT WALL INTL HLDGS IV LTD 3.95% S/A PERP 500,000 512,884 0.30% CHINALCO CAPITAL HLDGS LTD 4.1% S/A PERP 1,000,000 1,018,718 0.59% CHOUZHOU INTL INVESTMENT LTD 4% S/A 18FEB2025 300,000 294,149 0.17% CLP POWER HK FINANCE LTD 3.55% S/A PERP 500,000 509,214 0.30% COASTAL EMERALD LTD 4.3% S/A PERP 1,500,000 1,538,875 0.89% ENN CLEAN ENERGY INTL INVESTMENT LTD 7.5% S/A 27FEB2021 500,000 518,782 0.30% ESTATE SKY LTD 5.75% S/A PERP 300,000 272,212 0.16% FRANSHION BRILLIANT LTD 4.25% S/A 23JUL2029 500,000 513,576 0.30% GREENLAND GLOBAL INVESTMENT LTD 5.25% S/A 12FEB2021 250,000 255,360 0.15% HONGKONG ELECTRIC FINANCE LTD 2.25% S/A 09JUN2030 500,000 497,683 0.29% HUANENG HONG KONG CAPITAL LTD 3.6% S/A PERP 500,000 504,670 0.29%

– 171 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

British Virgin Islands (Continued) HUARONG FINANCE 2017 CO LTD 3M L+1.15% Q 07NOV2022 400,000 388,364 0.23% HUARONG FINANCE 2017 CO LTD 4.95% S/A 07NOV2047 1,500,000 1,528,703 0.89% HUARONG FINANCE 2017 CO LTD 5.5% S/A 27APR2047 200,000 226,738 0.13% HUARONG FINANCE 2019 CO LTD 3.375% S/A 24FEB2030 1,000,000 994,176 0.58% HUARONG FINANCE 2019 CO LTD 3.875% S/A 13NOV2029 500,000 514,533 0.30% JOY TREASURE ASSETS HLDGS INC 3.5% S/A 24SEP2029 1,000,000 1,076,681 0.63% JOY TREASURE ASSETS HLDGS INC 4.5% S/A 20MAR2029 400,000 462,398 0.27% MINMETALS BOUNTEOUS FINANCE BVI LTD 3.375% S/A PERP 610,000 618,999 0.36% NWD MTN LTD 4.125% S/A 18JUL2029 500,000 502,719 0.29% PROVEN HONOUR CAPITAL LTD 4.125% S/A 06MAY2026 300,000 318,073 0.18% RONGSHI INTL FINANCE LTD 3.25% S/A 21MAY2024 200,000 212,048 0.12% SCENERY JOURNEY LTD 11.5% S/A 24OCT2022 1,000,000 996,033 0.58% SHANDONG IRON AND STEEL XINHENG INTL CO LTD 6.85% S/A 25SEP2022 250,000 253,224 0.15% SHANGHAI PORT GROUP BVI DEVELOPMENT CO LTD 2.85% S/A 11SEP2029 1,000,000 1,051,158 0.61% SINO-OCEAN LAND TREASURE IV LTD 3M L+2.3% Q 31JUL2021 400,000 399,056 0.23% SINO-OCEAN LAND TREASURE IV LTD 4.75% S/A 14JAN2030 1,000,000 1,021,405 0.59% SINO-OCEAN LAND TREASURE IV LTD 5.25% S/A 30APR2022 370,000 383,037 0.22% STANDARD CHARTERED PLC 6% S/A PERP 1,000,000 1,001,563 0.58% SUNNY EXPRESS ENTERPRISES CORP 3.35% S/A PERP 200,000 201,752 0.12%

– 172 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

British Virgin Islands (Continued) TUSPARK FORWARD LTD 7.9% S/A 07MAR2021 250,000 171,209 0.10% VERTEX CAPITAL INVESTMENT LTD 4.75% S/A 03APR2024 500,000 530,086 0.31% VIGOROUS CHAMPION INTL LTD 2.75% S/A 02JUN2025 1,150,000 1,155,814 0.67% WANDA PROPERTIES OVERSEAS LTD 6.875% S/A 23JUL2023 1,760,000 1,733,008 1.01% WANDA PROPERTIES OVERSEAS LTD 6.95% S/A 05DEC2022 250,000 246,242 0.14% WHARF REIC FINANCE BVI LTD 2.875% S/A 07MAY2030 1,500,000 1,531,204 0.89% YONGDA INVESTMENT LTD 2.25% S/A 16JUN2025 500,000 503,139 0.29% ZHONGYUAN SINCERE INVESTMENT CO LTD 4.25% S/A 28JUN2024 300,000 307,786 0.18% 30,559,667 17.74%

Canada BANK OF NOVA SCOTIA 4.65% S/A PERP 180,000 172,405 0.10%

Cayman AGILE GROUP HLDGS LTD 7.75% S/A PERP 600,000 585,900 0.34% AGILE GROUP HLDGS LTD 7.875% S/A PERP 200,000 203,928 0.12% AGILE GROUP HLDGS LTD 8.375% S/A PERP 200,000 201,862 0.12% ALIBABA GROUP HLDG LTD 4.2% S/A 06DEC2047 300,000 370,010 0.21% ANTON OILFIELD SERVICES GROUP/HONG KONG 7.5% S/A 02DEC2022 950,000 618,746 0.36% AYC FINANCE LTD 4.85% S/A PERP 1,000,000 981,158 0.57% AZURE NOVA INTL FINANACE LTD 3.5% S/A 21MAR2022 200,000 207,356 0.12% CDBL FUNDING 1 3.5% S/A 24OCT2027 400,000 421,358 0.24% CENTRAL CHINA REAL ESTATE LTD 6.75% S/A 08NOV2021 750,000 755,166 0.44% CENTRAL CHINA REAL ESTATE LTD 6.875% S/A 10FEB2021 420,000 431,666 0.25%

– 173 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

Cayman (Continued) CENTRAL CHINA REAL ESTATE LTD 7.65% S/A 27AUG2023 1,000,000 995,810 0.58% CENTRAL CHINA REAL ESTATE LTD 7.9% S/A 07NOV2023 1,800,000 1,818,468 1.06% CFLD CAYMAN INVESTMENT LTD 6.9% S/A 13JAN2023 300,000 306,441 0.18% CFLD CAYMAN INVESTMENT LTD 8.625% S/A 28FEB2021 400,000 418,432 0.24% CFLD CAYMAN INVESTMENT LTD 9% S/A 31JUL2021 250,000 265,923 0.15% CHINA AOYUAN GROUP LTD 6.35% S/A 08FEB2024 1,500,000 1,489,755 0.87% CHINA AOYUAN GROUP LTD 7.95% S/A 19FEB2023 800,000 855,848 0.50% CHINA AOYUAN GROUP LTD 8.5% S/A 23JAN2022 1,500,000 1,607,258 0.93% CHINA HONGQIAO GROUP LTD 7.125% S/A 22JUL2022 250,000 239,105 0.14% CHINA MENGNIU DAIRY CO LTD 1.875% S/A 17JUN2025 500,000 498,435 0.29% CHINA OVERSEAS FINANCE CAYMAN VIII LTD 2.75% S/A 02MAR2030 500,000 513,690 0.30% CHINA OVERSEAS FINANCE CAYMAN VIII LTD 3.125% S/A 02MAR2035 500,000 513,740 0.30% CHINA OVERSEAS FINANCE CAYMAN VIII LTD 3.45% S/A 15JUL2029 1,000,000 1,091,738 0.63% CHINA RESOURCES LAND LTD 3.75% S/A PERP 2,500,000 2,541,754 1.48% CHINA SCE GROUP HLDGS LTD 8.75% S/A 15JAN2021 330,000 347,456 0.20% CHINA SCE PROPERTY HLDGS LTD 7.45% S/A 17APR2021 500,000 512,317 0.30% CHINA STATE CONSTRUCTION FINANCE CAYMAN III LTD 4% S/A PERP 1,000,000 1,006,921 0.59% CIFI HLDGS GROUP CO LTD 6.55% S/A 28MAR2024 1,250,000 1,308,651 0.76% CIFI HLDGS GROUP CO LTD 7.625% S/A 02MAR2021 200,000 208,749 0.12%

– 174 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

Cayman (Continued) CK HUTCHISON INTL 19 II LTD 3.375% S/A 06SEP2049 REGS 500,000 546,861 0.32% COUNTRY GARDEN HLDGS CO LTD 5.125% S/A 14JAN2027 700,000 722,326 0.42% COUNTRY GARDEN HLDGS CO LTD 5.4% S/A 27MAY2025 1,500,000 1,568,580 0.91% COUNTRY GARDEN HLDGS CO LTD 5.625% S/A 14JAN2030 800,000 845,051 0.49% COUNTRY GARDEN HLDGS CO LTD 7.25% S/A 08APR2026 500,000 553,668 0.32% SHIMAO PROPERTY HLDGS LTD 5.6% S/A 15JUL2026 1,500,000 1,621,503 0.94% SHIMAO PROPERTY HLDGS LTD 6.125% S/A 21FEB2024 1,000,000 1,080,378 0.63% SHUI ON DEVELOPMENT HLDG LTD 6.4% S/A PERP 200,000 195,093 0.11% SIB SUKUK CO III LTD 2.85% S/A 23JUN2025 510,000 513,281 0.30% DAFA PROPERTIES GROUP LTD 12.875% S/A 11JUL2021 500,000 513,879 0.30% DEXIN CHINA HLDGS CO LTD 11.875% S/A 23APR2022 320,000 318,943 0.19% FUFENG GROUP LTD 5.875% S/A 28AUG2021 1,000,000 1,039,883 0.60% FWD LTD 6.25% S/A PERP 200,000 198,617 0.12% GOLDEN WHEEL TIANDI HLDGS CO LTD 7% S/A 18JAN2021 500,000 508,997 0.30% GRANDA CENTURY LTD 7.5% S/A 11SEP2021 300,000 303,410 0.18% HEALTH AND HAPPINESS H&H INTL HLDGS LTD 5.625% S/A 24OCT2024 600,000 620,213 0.36% HONGKONG LAND FINANCE CAYMAN ISLAND CO LTD 2.875% S/A 27MAY2030 1,070,000 1,115,898 0.65% ICD SUKUK CO LTD 5% S/A 01FEB2027 500,000 534,522 0.31% JD.COM INC 3.375% S/A 14JAN2030 1,080,000 1,170,230 0.68% KAISA GROUP HLDGS LTD 11.75% S/A 26FEB2021 400,000 428,259 0.25% KAISA GROUP HLDGS LTD 11.95% S/A 22OCT2022 REGS 1,400,000 1,491,692 0.87%

– 175 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

Cayman (Continued) KAISA GROUP HLDGS LTD 6.75% S/A 18FEB2021 2,000,000 2,048,505 1.19% KAISA GROUP HLDGS LTD 7.875% S/A 09JUN2021 1,000,000 1,008,904 0.59% KWG GROUP HLDGS LTD 7.875% S/A 01SEP2023 1,500,000 1,596,870 0.93% KWG GROUP HLDGS LTD 9.85% S/A 26NOV2020 250,000 257,647 0.15% LOGAN GROUP CO LTD 5.75% S/A 14JAN2025 1,050,000 1,075,855 0.62% LOGAN GROUP CO LTD 6.5% S/A 16JUL2023 800,000 845,641 0.49% LOGAN GROUP CO LTD 7.5% S/A 25AUG2022 300,000 319,782 0.19% MGM CHINA HLDGS LTD 5.875% S/A 15MAY2026 REGS 200,000 208,353 0.12% OVERSEAS CHINESE TOWN ASIA HLDGS LTD 4.3% S/A PERP 1,200,000 1,211,262 0.70% PHOENIX GROUP HLDGS 5.375% S/A 06JUL2027 400,000 433,871 0.25% POWERLONG REAL ESTATE HLDGS LTD 6.95% S/A 23JUL2023 1,050,000 1,086,858 0.63% POWERLONG REAL ESTATE HLDGS LTD 7.125% S/A 08NOV2022 400,000 409,728 0.24% POWERLONG REAL ESTATE HLDGS LTD 9.125% S/A 14JAN2021 250,000 265,857 0.15% REDCO PROPERTIES GROUP LTD 11.5% S/A 08DEC2020 250,000 249,190 0.14% RONSHINE CHINA HLDGS LTD 11.25% S/A 22AUG2021 250,000 273,841 0.16% RONSHINE CHINA HLDGS LTD 8.1% S/A 09JUN2023 250,000 258,742 0.15% RONSHINE CHINA HLDGS LTD 8.75% S/A 25OCT2022 2,250,000 2,384,419 1.38% RONSHINE CHINA HLDGS LTD 8.95% S/A 22JAN2023 550,000 598,092 0.35% SHIMAO PROPERTY HLDGS LTD 5.6% S/A 15JUL2026 1,500,000 1,621,503 0.94% SHIMAO PROPERTY HLDGS LTD 6.125% S/A 21FEB2024 1,000,000 1,080,378 0.63% SHUI ON DEVELOPMENT HLDG LTD 6.4% S/A PERP 200,000 195,093 0.11% SIB SUKUK CO III LTD 2.85% S/A 23JUN2025 510,000 513,281 0.30%

– 176 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

Cayman (Continued) SUN HUNG KAI PROPERTIES CAPITAL MARKET LTD 2.75% S/A 13MAY2030 1,000,000 1,020,907 0.59% SUN HUNG KAI PROPERTIES CAPITAL MARKET LTD 2.875% S/A 21JAN2030 500,000 519,589 0.30% SUNAC CHINA HLDGS LTD 6.5% S/A 10JAN2025 400,000 399,530 0.23% SUNAC CHINA HLDGS LTD 7.25% S/A 14JUN2022 750,000 765,288 0.44% SUNAC CHINA HLDGS LTD 7.5% S/A 01FEB2024 300,000 315,729 0.18% SUNAC CHINA HLDGS LTD 7.875% S/A 15FEB2022 500,000 528,230 0.31% SUNAC CHINA HLDGS LTD 8.35% S/A 19APR2023 1,000,000 1,049,130 0.61% SUNNY OPTICAL TECHNOLOGY GROUP CO LTD 3.75% S/A 23JAN2023 450,000 470,371 0.27% TIMES CHINA HLDGS LTD 6.6% S/A 02MAR2023 500,000 510,922 0.30% VLL INTL INC 5.75% S/A 28NOV2024 250,000 248,308 0.14% WEIBO CORP 3.5% S/A 05JUL2024 600,000 630,415 0.37% YANKUANG GROUP CAYMAN LTD 4.75% S/A 30NOV2020 300,000 302,301 0.18% YUZHOU PROPERTIES CO LTD 6% S/A 25OCT2023 600,000 587,142 0.34% YUZHOU PROPERTIES CO LTD 7.7% S/A 20FEB2025 900,000 907,344 0.53% YUZHOU PROPERTIES CO LTD 8.3% S/A 27MAY2025 500,000 499,134 0.29% ZHENRO PROPERTIES GROUP LTD 12.5% S/A 02JAN2021 250,000 266,016 0.15% ZHENRO PROPERTIES GROUP LTD 7.875% S/A 14APR2024 700,000 692,826 0.40% ZHENRO PROPERTIES GROUP LTD 9.8% S/A 20AUG2021 250,000 266,385 0.15% 61,721,909 35.85%

– 177 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

China BANK OF CHINA LTD 5% S/A 13NOV2024 REGS 500,000 560,468 0.33% CHINA CONSTRUCTION BANK CORP 2.45% S/A 24JUN2030 1,000,000 998,396 0.58% DALIAN DETA HLDG CO LTD 5.95% S/A 29JUL2022 540,000 534,385 0.31% JIANGXI RAILWAY INVESTMENT GROUP CORP 4.85% S/A 21FEB2022 200,000 208,641 0.12% KUNMING RAIL TRANSIT GROUP CO LTD 3.5% S/A 12DEC2022 1,250,000 1,247,959 0.72% SHOUGANG GROUP CO LTD 4% S/A 23MAY2024 700,000 750,122 0.44% TAIKANG INSURANCE GROUP INC 3.5% S/A 19JAN2022 200,000 208,316 0.12% XIAN MUNICIPAL INFRASTRUCTURE CONSTRUCTION INVESTMENT GROUP CO LTD 4% S/A 24JUN2022 500,000 505,589 0.29% 5,013,876 2.91%

France BNP PARIBAS SA 6.625% S/A PERP REGS 510,000 530,266 0.31% SOCIETE GENERALE SA 2.625% S/A 16OCT2024 REGS 800,000 823,023 0.48% SOCIETE GENERALE SA 7.375% S/A PERP REGS 200,000 205,299 0.12% 1,558,588 0.91%

Hong Kong AIA GROUP LTD 4.5% S/A 16MAR2046 REGS 500,000 605,012 0.35% BANK OF EAST ASIA LTD 4% S/A 29MAY2030 940,000 965,667 0.56% BANK OF EAST ASIA LTD 5.5% S/A PERP 200,000 198,478 0.12% CHALIECO HONG KONG CORP LTD 5% S/A PERP 1,000,000 1,001,826 0.58% CHINA CITIC BANK INTL LTD 4.625% S/A 28FEB2029 400,000 427,853 0.25% CHONG HING BANK LTD 5.7% S/A PERP 930,000 893,212 0.52% CITIC LTD 2.85% S/A 25FEB2030 650,000 675,984 0.39% CNAC HK FINBRIDGE CO LTD 4.125% S/A 14MAR2021 500,000 513,360 0.30%

– 178 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

Hong Kong (Continued) CNAC HK FINBRIDGE CO LTD 4.625% S/A 14MAR2023 210,000 226,224 0.13% CNAC HK FINBRIDGE CO LTD 5.125% S/A 14MAR2028 1,000,000 1,176,193 0.68% HBIS GROUP HONG KONG CO LTD 3.75% S/A 18DEC2022 1,000,000 1,000,624 0.58% NANYANG COMMERCIAL BANK LTD 3.8% S/A 20NOV2029 1,670,000 1,683,623 0.98% SHANGRAO INVESTMENT HLDGS INTL CO LTD 4.3% S/A 16JAN2023 360,000 369,799 0.21% VANKE REAL ESTATE HONG KONG CO LTD 3.975% S/A 09NOV2027 200,000 214,696 0.12% WING LUNG BANK LTD 3.75% S/A 22NOV2027 500,000 508,936 0.30% YANGO JUSTICE INTL LTD 9.5% S/A 03APR2021 200,000 207,794 0.12% YANLORD LAND HK CO LTD 6.8% S/A 27FEB2024 600,000 608,275 0.35% ZOOMLION HK SPV CO LTD 6.125% S/A 20DEC2022 REGS 50,000 51,154 0.03% 11,328,710 6.57%

India ADANI ELECTRICITY MUMBAI LTD 3.949% S/A 12FEB2030 REGS 1,030,000 981,381 0.57% ADANI PORTS & SPECIAL ECONOMIC ZONE LTD 4% S/A 30JUL2027 REGS 200,000 197,786 0.11% ADANI PORTS & SPECIAL ECONOMIC ZONE LTD 4.375% S/A 03JUL2029 REGS 600,000 603,343 0.35% ADANI TRANSMISSION LTD 4.25% S/A 21MAY2036 REGS 500,000 482,357 0.28% EXPORT-IMPORT BANK OF INDIA 3.25% S/A 15JAN2030 REGS 700,000 703,651 0.41% INDIA INFOLINE FINANCE LTD 5.875% S/A 20APR2023 400,000 324,827 0.19% MANAPPURAM FINANCE LTD 5.9% S/A 13JAN2023 850,000 822,454 0.48%

– 179 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

India (Continued) NEERG ENERGY LTD 6% S/A 13FEB2022 REGS 200,000 202,932 0.12% REC LTD 3.5% S/A 12DEC2024 1,000,000 998,207 0.58% REC LTD 4.75% S/A 19MAY2023 REGS 500,000 518,656 0.30% 5,835,594 3.39%

Indonesia ADARO INDONESIA 4.25% S/A 31OCT2024 REGS 400,000 380,801 0.22% BANK MANDIRI PERSERO TBK 3.75% S/A 11APR2024 500,000 516,567 0.30% BANK RAKYAT INDONESIA PERSERO TBK 3.95% S/A 28MAR2024 200,000 208,245 0.12% BANK TABUNGAN NEGARA PERSERO TBK 4.2% S/A 23JAN2025 310,000 303,193 0.18% BAYAN RESOURCES TBK 6.125% S/A 24JAN2023 REGS 250,000 239,135 0.14% INDONESIA ASAHAN ALUMINIUM PERSERO 4.75% S/A 15MAY2025 REGS 350,000 377,408 0.22% INDONESIA ASAHAN ALUMINIUM PERSERO 5.45% S/A 15MAY2030 REGS 350,000 392,862 0.23% INDONESIA ASAHAN ALUMINIUM TBK 5.23% S/A 15NOV2021 REGS 400,000 419,909 0.24% INDONESIA GOVERNMENT INTL BOND 4.75% S/A 18JUL2047 REGS 200,000 239,725 0.14% INDONESIA GOVERNMENT INTL BOND 5.35% S/A 11FEB2049 1,000,000 1,319,376 0.77% INDONESIA TREASURY BOND 8.375% S/A 15MAR2034 9,400,000,000 710,498 0.41% PELABUHAN INDONESIA II 5.375% S/A 05MAY2045 REGS 600,000 642,733 0.37% PERTAMINA PERSERO 3.65% S/A 30JUL2029 REGS 400,000 425,164 0.25% PERTAMINA PERSERO 4.175% S/A 21JAN2050 REGS 800,000 810,452 0.47% PERTAMINA PERSERO 4.7% S/A 30JUL2049 REGS 1,000,000 1,100,704 0.64% PERTAMINA PERSERO 5.625% S/A 20MAY2043 REGS 500,000 584,133 0.34%

– 180 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

Indonesia (Continued) PERUSAHAAN LISTRIK NEGARA 4.375% S/A 05FEB2050 REGS 500,000 528,640 0.31% PERUSAHAAN LISTRIK NEGARA 5.25% S/A 15MAY2047 REGS 200,000 227,638 0.13% PERUSAHAAN LISTRIK NEGARA 5.25% S/A 24OCT2042 REGS 300,000 344,466 0.20% PERUSAHAAN PENERBIT SBSN INDONESIA III 3.8% S/A 23JUN2050 REGS 200,000 206,137 0.12% REPUBLIC OF INDONESIA 4.625% S/A 15APR2043 REGS 300,000 348,814 0.20% 10,326,600 6.00%

Isle of Man GOHL CAPITAL LTD 4.25% S/A 24JAN2027 300,000 308,392 0.18%

Japan CHIBA BANK LTD 2.65% S/A 30OCT2024 1,000,000 1,049,410 0.61% MITSUBISHI UFJ FINANCIAL GROUP INC 3.751% S/A 18JUL2039 500,000 576,222 0.33% NIPPON LIFE INSURANCE CO 3.4% S/A 23JAN2050 REGS 500,000 521,366 0.30% SUMITOMO LIFE INSURANCE CO 4% S/A 14SEP2077 REGS 200,000 217,870 0.13% SUMITOMO MITSUI FINANCIAL GROUP INC 2.75% S/A 15JAN2030 600,000 645,174 0.37% 3,010,042 1.74% Korea KOREA ELECTRIC POWER CORP 2.5% S/A 24JUN2024 REGS 600,000 634,360 0.37% SHINHAN FINANCIAL GROUP CO LTD 3.34% S/A 05FEB2030 REGS 500,000 530,188 0.31% SK TELECOM CO LTD 3.75% S/A 16APR2023 REGS 400,000 430,125 0.25% WOORI BANK 4.25% S/A PERP REGS 500,000 504,580 0.29% 2,099,253 1.22%

– 181 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

Macau INDUSTRIAL & COMMERCIAL BANK OF CHINA MACAU LTD 2.875% S/A 12SEP2029 500,000 514,437 0.30%

Malaysia PETRONAS CAPITAL LTD 4.5% S/A 18MAR2045 REGS 300,000 377,770 0.22% PETRONAS CAPITAL LTD 4.55% S/A 21APR2050 REGS 200,000 256,401 0.15% PRESS METAL LABUAN LTD 4.8% S/A 30OCT2022 200,000 188,815 0.11% TNB GLOBAL VENTURES CAPITAL BHD 4.851% S/A 01NOV2028 480,000 569,378 0.33% 1,392,364 0.81%

Mauritius UPL CORP LTD 5.25% S/A PERP 500,000 468,917 0.27%

Mongolia MONGOLIA GOVERNMENT INTL BOND 10.875% S/A 06APR2021 REGS 200,000 213,765 0.12%

Netherlands ING GROEP NV 4.875% S/A PERP 900,000 854,184 0.50% ING GROEP NV 5.75% S/A PERP 1,000,000 1,005,648 0.58% ING GROEP NV 6.75% S/A PERP 590,000 614,286 0.36% MINEJESA CAPITAL BV 5.625% S/A 10AUG2037 REGS 200,000 210,728 0.12% 2,684,846 1.56%

Oman MAZOON ASSETS CO SAOC 5.2% S/A 08NOV2027 REGS 200,000 190,471 0.11%

– 182 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

Philippines BDO UNIBANK INC 2.95% S/A 06MAR2023 500,000 517,702 0.30% INTL CONTAINER TERMINAL SERVICES INC 4.75% S/A 17JUN2030 340,000 346,595 0.20% PLDT INC 2.5% S/A 23JAN2031 240,000 243,935 0.14% RIZAL COMMERCIAL BANKING CORP 3% S/A 11SEP2024 800,000 806,069 0.47% SMC GLOBAL POWER HLDGS CORP 5.95% S/A PERP 500,000 486,798 0.28% SMC GLOBAL POWER HLDGS CORP 6.5% S/A PERP 430,000 430,545 0.25% UNION BANK OF THE PHILIPPINES 3.369% S/A 29NOV2022 500,000 519,142 0.30% 3,350,786 1.94%

Singapore BOC AVIATION LTD 2.375% S/A 15SEP2021 REGS 200,000 201,875 0.12% BOC AVIATION LTD 2.75% S/A 02DEC2023 1,500,000 1,516,193 0.88% BOC AVIATION LTD 3.25% S/A 29APR2025 REGS 2,000,000 2,060,214 1.20% INDIKA ENERGY CAPITAL III PTE LTD 5.875% S/A 09NOV2024 REGS 250,000 227,102 0.13% MEDCO OAK TREE PTE LTD 7.375% S/A 14MAY2026 REGS 200,000 187,634 0.11% PARKWAY PANTAI LTD 4.25% S/A PERP 500,000 504,040 0.29% SINGTEL GROUP TREASURY PTE LTD 2.375% S/A 28AUG2029 1,000,000 1,054,745 0.61% SINOCHEM INTL DEVELOPMENT PTE LTD 3.125% S/A 25JUL2022 200,000 206,292 0.12% THETA CAPITAL PTE LTD 6.75% S/A 31OCT2026 250,000 201,797 0.12% UNITED OVERSEAS BANK LTD 2.88% S/A 08MAR2027 200,000 204,832 0.12% UNITED OVERSEAS BANK LTD 3.75% S/A 15APR2029 REGS 260,000 277,177 0.16% 6,641,901 3.86%

– 183 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

Spain BANCO BILBAO VIZCAYA ARGENTARIA SA 6.5% Q PERP 600,000 584,673 0.34%

Sri Lanka SRI LANKA GOVERNMENT INTL BOND 6.2% S/A 11MAY2027 REGS 200,000 133,072 0.08% SRI LANKA GOVERNMENT INTL BOND 6.25% S/A 27JUL2021 REGS 250,000 223,442 0.13% SRI LANKA GOVERNMENT INTL BOND 6.35% S/A 28JUN2024 REGS 500,000 351,615 0.20% SRI LANKA GOVERNMENT INTL BOND 6.75% S/A 18APR2028 REGS 500,000 335,239 0.19% SRI LANKA GOVERNMENT INTL BOND 7.85% S/A 14MAR2029 REGS 200,000 137,244 0.08% 1,180,612 0.68%

Sweden SKANDINAVISKA ENSKILDA BANKEN AB 5.125% S/A PERP 600,000 588,554 0.34%

Thailand BANGKOK BANK PCL/HONG KONG 3.733% S/A 25SEP2034 REGS 500,000 485,182 0.28% KASIKORNBANK PCL/HOKG KONG 3.343% S/A 02OCT2031 500,000 485,467 0.28% PTTEP TREASURY CENTER CO LTD 2.587% S/A 10JUN2027 REGS 690,000 707,491 0.41% TMB BANK PCL/CAYMAN ISLANDS 4.9% S/A PERP 1,200,000 1,125,729 0.65% 2,803,869 1.62%

UAE ABU DHABI NATIONAL ENERGY CO PJSC 4.875% S/A 23APR2030 REGS 430,000 521,495 0.30%

– 184 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEBT SECURITIES (CONTINUED)

United Kingdom HSBC HLDGS PLC 6% S/A PERP 200,000 201,160 0.12% PHOENIX GROUP HLDGS PLC 5.625% S/A PERP 310,000 304,400 0.18% STANDARD CHARTERED PLC 3.516% S/A 12FEB2030 500,000 519,895 0.30% STANDARD CHARTERED PLC 4.305% S/A 21MAY2030 REGS 500,000 556,107 0.32% STANDARD CHARTERED PLC 7.75% S/A PERP REGS 500,000 533,850 0.31% 2,115,412 1.23%

United States CNOOC FINANCE 2015 USA LLC 3.5% S/A 05MAY2025 200,000 219,339 0.13% CNOOC FINANCE 2015 USA LLC 4.375% S/A 02MAY2028 500,000 586,265 0.34% HYUNDAI CAPITAL AMERICA 3.5% S/A 02NOV2026 REGS 1,000,000 1,032,396 0.60% 1,838,000 1.07%

Vietnam VIETNAM GOVERNMENT INTL BOND 4.8% S/A 19NOV2024 REGS 200,000 220,180 0.13% 162,682,171 94.45%

– 185 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIAN BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

FOREIGN CURRENCY FORWARD CONTRACTS Buy RMB123,039,871.24 and Sell USD17,363,062.70 13,397 0.01%

TOTAL LISTED/QUOTED INVESTMENTS 166,904,574 96.91%

OTHER NET ASSETS 5,321,890 3.09%

NET ASSETS AS AT 30 June 2020 (AT TRADING VALUE) 172,226,464 100.00%

TOTAL INVESTMENTS, AT COST 162,885,886

Note: Investments are accounted for on a trade-date basis.

– 186 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIA (EX-JAPAN) EQUITY FUND

INVESTMENT PORTFOLIO (UNAUDITED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments nominal value USD assets

COLLECTIVE INVESTMENT SCHEMES

Hong Kong FORTUNE REIT 120,000 107,916 1.59% YUEXIU REAL ESTATE INVESTMENT TRUST 100,000 45,545 0.67% 153,461 2.26% Singapore MAPLETREE COMMERCIAL TRUST 46,000.00 63,687 0.94%

United States ISHARES MSCI INDONESIA ETF 7,049 126,882 1.87% ISHARES MSCI MALAYSIA ETF 6,128 154,487 2.27% ISHARES MSCI PHILIPPINES ETF 2,566.00 69,025 1.02% ISHARES MSCI TAIWAN ETF 9,000.00 361,980 5.32% ISHARES MSCI THAILAND ETF 2,189.00 154,631 2.28% 867,005 12.76% 1,084,153 15.96%

EQUITY SECURITIES

Hong Kong AIA GROUP LTD 17,800 166,046 2.44% ANHUI CONCH CEMENT CO LTD-H 10,000 67,350 0.99% CGN POWER CO LTD-H 186,000 38,398 0.57% CHINA CONSTRUCTION BANK CORP-H 165,000 133,482 1.96% CHINA LITERATURE LTD 10,000 67,350 0.99% CHINA MERCHANTS BANK CO LTD-H 7,000 32,198 0.47% CHINA MOBILE LTD 3,500 23,618 0.35% CHINA OILFIELD SERVICES LTD-H 60,000 53,880 0.79% CHINA OVERSEAS LAND & INVESTMENT LTD 40,000 121,024 1.78% CHINA RESOURCES LAND LTD 30,000 113,606 1.67% CHINA UNICOM (HONG KONG) LTD 100,000 54,061 0.80% CK HUTCHISON HLDGS LTD 3,500 22,489 0.33% CK INFRASTRUCTURE HLDGS LTD 10,000 51,481 0.76% CNOOC LTD 26,000 28,917 0.43% HKT TRUST AND HKT LTD 73,000 106,809 1.57% HONG KONG EXCHANGES & CLEARING LTD 6,700 285,272 4.20% HONG KONG TELEVISION NETWORK LTD 200,000 114,831 1.69% INDUSTRIAL & COMMERCIAL BK OF CHINA-H 144,000 87,323 1.29% MIDEA REAL ESTATE HLDG LTD 35,000 85,620 1.26% NEW WORLD DEVELOPMENT CO LTD 12,000 56,977 0.84% PING AN INSURANCE GROUP CO OF CHINA LTD-H 10,500 104,993 1.55%

– 187 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIA (EX-JAPAN) EQUITY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

EQUITY SECURITIES (CONTINUED)

Hong Kong (Continued) SANDS CHINA LTD 24,000 94,136 1.39% SINO BIOPHARMACEUTICAL LTD 30,000 56,512 0.83% SUNEVISION HLDGS LTD 200,000 156,635 2.31% TENCENT HLDGS LTD 8,600 553,250 8.14% XIAOMI CORP-CLASS B SHARE 30,000 49,700 0.72% 2,725,958 40.12%

Korea AMOREPACIFIC CORP 260 36,264 0.53% CELLTRION INC 472 120,269 1.77% DAELIM INDUSTRIAL CO LTD 286 19,600 0.29% HOTEL SHILLA CO LTD 1,500 88,683 1.31% HYUNDAI MOTOR CO 261 21,234 0.31% INDUSTRIAL BANK OF KOREA 3,892 26,186 0.39% KOREA ELECTRIC POWER CORP 1,062 17,244 0.25% KT&G CORP 307 19,991 0.29% NAVER CORP 295 65,588 0.97% NCSOFT CORP 73 54,161 0.80% SAMSUNG ELECTRO-MECHANICS CO LTD 1,200 128,902 1.90% SAMSUNG ELECTRONICS CO LTD 10,000.00 439,666 6.47% SAMSUNG ELECTRONICS CO LTD – PREFERENCE SHARE 1,059.00 41,005 0.60% SAMSUNG ENGINEERING CO LTD 1,493.00 15,229 0.22% SAMSUNG SDS CO LTD 196.00 27,501 0.40% SHINHAN FINANCIAL GROUP CO LTD 781.00 18,697 0.28% SK HYNIX INC 4,000.00 283,451 4.17% 1,423,671 20.95%

Singapore DBS GROUP HLDGS LTD 4,600 68,637 1.01% OVERSEA-CHINESE BANKING CORP LTD 15,000 96,844 1.43% SINGAPORE TELECOMMUNICATIONS LTD 13,600 24,000 0.35% 189,481 2.79% 4,339,110 63.86%

– 188 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIA (EX-JAPAN) EQUITY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD assets

DEPOSITORY RECEIPTS

Taiwan TAIWAN SEMICONDUCTOR MANUFACTURING- ADR 6,000.00 340,620 5.01% 340,620 5.01%

United Kingdom HON HAI PRECISION INDUSTRY CO LTD-GDR REGS 12,436.00 72,875 1.07%

United States ALIBABA GROUP HLDG LTD-SPONSORED ADR 2,274.00 490,502 7.22% BAIDU INC-ADR 396.00 47,476 0.70% JD.COM INC-ADR 968.00 58,254 0.86% NETEASE INC-ADR 130.00 55,819 0.82% NEW ORIENTAL EDUCATION & TECHNOLOGY- ADR 288.00 37,506 0.55% TRIP.COM GROUP LTD-ADR 518.00 13,427 0.20% 702,984 10.35% 1,116,479 16.43%

FOREIGN CURRENCY FORWARD CONTRACTS

Buy CNY 1,799,227.00 and Sell USD252,785.63 437 0.01% 437 0.01%

TOTAL LISTED/QUOTED INVESTMENTS 6,540,179 96.26%

OTHER NET ASSETS 254,227 3.74%

NET ASSETS AS AT 30 JUNE 2020 (AT TRADING VALUE) 6,794,406 100.00%

TOTAL INVESTMENTS, AT COST 6,232,946

Note: Investments are accounted for on a trade-date basis.

– 189 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA INCOME FUND

INVESTMENT PORTFOLIO (UNAUDITED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments nominal value HKD assets

COLLECTIVE INVESTMENT SCHEMES

Australia QIC PING AN CHINA CORPORATE BOND FUND-CL C-USD 299,444 2,294,381 1.79%

Hong Kong FORTUNE REIT 332,000 2,314,040 1.81% LINK REAL ESTATE INVESTMENT TRUST 29,000 1,837,150 1.44% YUEXIU REAL ESTATE INVESTMENT TRUST 498,000 1,757,940 1.38% 5,909,130 4.63% 8,203,511 6.42%

DEBT SECURITIES

British Virgin Islands CCCI TREASURE LTD 3.65% S/A PERP 200,000 1,562,734 1.22% CHINA GREAT WALL INTL HLDGS IV LTD 3.95% S/A PERP 250,000 1,987,554 1.55% CHINALCO CAPITAL HLDGS LTD 4.1% S/A PERP 300,000 2,368,672 1.85% CHOUZHOU INTL INVESTMENT LTD 4% S/A 18FEB2025 250,000 1,899,837 1.49% DIANJIAN HAIYU LTD 4.3% S/A PERP 350,000 2,746,838 2.15% HUANENG HONG KONG CAPITAL LTD 3.6% S/A PERP 350,000 2,738,011 2.15% HUARONG FINANCE 2017 CO LTD 4.5% S/A PERP 350,000 2,789,484 2.19% HUARONG FINANCE II CO LTD 2.875% S/A PERP 400,000 3,093,489 2.43% RADIANCE CAPITAL INVESTMENTS LTD 10.5% S/A 16JAN2022 200,000 1,650,322 1.29% SINO-OCEAN LAND TREASURE IV LTD 3M L+2.3% Q 31JUL2021 200,000 1,546,442 1.21% SUNNY EXPRESS ENTERPRISES CORP 3.35% S/A PERP 200,000 1,563,675 1.22% WANDA PROPERTIES OVERSEAS LTD 6.875% S/A 23JUL2023 200,000 1,526,327 1.19% ZHONGYUAN SINCERE INVESTMENT CO LTD 4.25% S/A 28JUN2024 200,000 1,590,332 1.24% 27,063,717 21.18%

– 190 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA INCOME FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value HKD assets

DEBT SECURITIES (CONTINUED)

Canada BANK OF NOVA SCOTIA 4.65% S/A PERP 50,000 371,173 0.29%

Cayman CFLD CAYMAN INVESTMENT LTD 8.625% S/A 28FEB2021 200,000 1,621,527 1.27% CHINA AOYUAN GROUP LTD 7.95% S/A 19FEB2023 200,000 1,658,312 1.30% CHINA OVERSEAS GRAND OCEANS FINANCE IV CAYMAN LTD 4.875% S/A 01JUN2021 220,000 1,749,021 1.37% CHINA STATE CONSTRUCTION FINANCE CAYMAN III LTD 4% S/A PERP 200,000 1,560,828 1.22% COUNTRY GARDEN HLDGS CO LTD 6.15% S/A 17SEP2025 250,000 2,094,586 1.64% DEXIN CHINA HLDGS CO LTD 11.875% S/A 23APR2022 200,000 1,544,982 1.21% JD.COM INC 3.375% S/A 14JAN2030 230,000 1,931,546 1.51% KAISA GROUP HLDGS LTD 11.75% S/A 26FEB2021 110,000 912,787 0.71% RONSHINE CHINA HLDGS LTD 8.1% S/A 09JUN2023 250,000 2,005,384 1.57% SUNRISE CAYMAN LTD 5.25% S/A 11MAR2024 200,000 1,640,225 1.28% YUZHOU PROPERTIES CO LTD 7.7% S/A 20FEB2025 200,000 1,562,748 1.22% 18,281,946 14.30%

China CHINA CONSTRUCTION BANK CORP 2.45% S/A 24JUN2030 200,000 1,547,614 1.21%

France BNP PARIBAS SA 4.5% S/A PERP REGS 200,000 1,391,184 1.09%

– 191 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA INCOME FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value HKD assets

DEBT SECURITIES (CONTINUED)

Hong Kong SHANGRAO INVESTMENT HLDGS INTL CO LTD 4.3% S/A 16JAN2023 240,000 1,910,749 1.49% YANGO JUSTICE INTL LTD 9.5% S/A 03APR2021 200,000 1,610,511 1.26% 3,521,260 2.75%

India MANAPPURAM FINANCE LTD 5.9% S/A 13JAN2023 200,000 1,499,866 1.17%

Indonesia BANK TABUNGAN NEGARA PERSERO TBK 4.2% S/A 23JAN2025 200,000 1,516,065 1.19%

Japan NIPPON LIFE INSURANCE CO 3.4% S/A 23JAN2050 REGS 200,000 1,616,339 1.26%

Malaysia PRESS METAL LABUAN LTD 4.8% S/A 30OCT2022 200,000 1,463,408 1.14%

Netherlands ING GROEP NV 4.875% S/A PERP 200,000 1,471,190 1.15%

Singapore BOC AVIATION LTD 2.75% S/A 02DEC2023 350,000 2,741,959 2.14% 62,485,721 48.87%

– 192 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA INCOME FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value HKD assets

EQUITY SECURITIES

China KWEICHOW MOUTAI CO LTD-A 700 1,122,770 0.88%

Hong Kong AGRICULTURAL BANK OF CHINA LTD-H 539,000 1,681,680 1.32% BANK OF CHINA LTD-H 415,000 1,191,050 0.93% BANK OF COMMUNICATIONS CO LTD-H 150,000 717,000 0.56% BANK OF EAST ASIA LTD 49,800 881,460 0.69% BOC HONG KONG (HLDGS) LTD 15,000 369,750 0.29% CGN POWER CO LTD-H 995,000 1,592,000 1.25% CHINA CITIC BANK CORP LTD-H 130,000 439,400 0.34% CHINA CONSTRUCTION BANK CORP-H 415,000 2,602,050 2.04% CHINA EVERBRIGHT BANK CO LTD-H 150,000 436,500 0.34% CHINA INTL CAPITAL CORP LTD-H 74,800 1,138,456 0.89% CHINA LITERATURE LTD 10,000 522,000 0.41% CHINA MERCHANTS BANK CO LTD-H 10,000 356,500 0.28% CHINA MERCHANTS PORTS HLDGS CO LTD 62,000 567,920 0.44% CHINA MINSHENG BANKING CORP LTD-H 75,000 399,000 0.31% CHINA MOBILE LTD 37,500 1,961,250 1.53% CHINA OILFIELD SERVICES LTD-H 82,000 570,720 0.45% CHINA RESOURCES LAND LTD 20,000 587,000 0.46% CHINA TELECOM CORP LTD-H 522,000 1,132,740 0.89% CITIC LTD 232,000 1,688,960 1.32% CK HUTCHISON HLDGS LTD 28,000 1,394,400 1.09% CK INFRASTRUCTURE HLDGS LTD 62,000 2,473,800 1.94% CLP HLDGS LTD 25,000 1,900,000 1.49% GUANGDONG INVESTMENT LTD 42,000 558,600 0.44% HANG LUNG GROUP LTD 83,000 1,495,660 1.17% HANG LUNG PROPERTIES LTD 58,000 1,064,880 0.83% HANG SENG BANK LTD 5,800 754,580 0.59% HENDERSON LAND DEVELOPMENT CO LTD 42,000 1,234,800 0.97% HKT TRUST AND HKT LTD 124,000 1,406,160 1.10% HONG KONG EXCHANGES & CLEARING LTD 5,000 1,650,000 1.29% HONG KONG TELEVISION NETWORK LTD 150,000 667,500 0.52%

– 193 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA INCOME FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value HKD assets

EQUITY SECURITIES (CONTINUED)

Hong Kong (Continued) INDUSTRIAL & COMMERCIAL BK OF CHINA-H 332,000 1,560,400 1.22% JIANGSU EXPRESSWAY CO LTD-H 150,000 1,362,000 1.07% JIANGXI COPPER CO LTD-H 116,000 905,960 0.71% MIDEA REAL ESTATE HLDG LTD 33,200 629,472 0.49% MTR CORP LTD 37,500 1,505,625 1.18% NEW WORLD DEVELOPMENT CO LTD 37,250 1,370,800 1.07% PING AN INSURANCE GROUP CO OF CHINA LTD-H 11,500 891,250 0.70% POSTAL SAVINGS BANK OF CHINA CO LTD-H 66,000 293,700 0.23% SANDS CHINA LTD 20,000 608,000 0.48% SHANGHAI INDUSTRIAL HLDGS LTD 70,000 834,400 0.65% SHANGHAI INDUSTRIAL URBAN DEVELOPMENT GROUP LTD 71,000 63,190 0.05% SUNAC CHINA HLDGS LTD 30,000 973,500 0.76% SUNEVISION HLDGS LTD 100,000 607,000 0.47% SWIRE PACIFIC LTD ‘A’ 4,000 164,400 0.13% SWIRE PACIFIC LTD ‘B’ 125,000 923,750 0.72% SWIRE PROPERTIES LTD 59,800 1,176,864 0.92% WHEELOCK & CO LTD 40,000 2,452,000 1.93% ZHENRO PROPERTIES GROUP LTD 54,000 261,900 0.20% 50,020,027 39.15% 51,142,797 40.03%

– 194 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER CHINA INCOME FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value HKD assets

FOREIGN CURRENCY FORWARD CONTRACTS Buy CNY 19,985,447 and sell HKD21,846,891.53 31,896 0.00% 31,896 0.00%

TOTAL LISTED/QUOTED INVESTMENTS 121,863,925 95.32%

OTHER NET ASSETS 5,979,880 4.68%

NET ASSETS AS AT 30 June 2020 (AT TRADING VALUE) 127,843,805 100.00%

TOTAL INVESTMENTS, AT COST 133,414,786

Note: Investments are accounted for on a trade-date basis.

– 195 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIA PACIFIC HIGH INCOME FUND

INVESTMENT PORTFOLIO (UNAUDITED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments nominal value USD Assets

COLLECTIVE INVESTMENT SCHEMES

Singapore ASCENDAS REAL ESTATE INVESTMENT TRUST 96,280 218,944 1.75% MAPLETREE COMMERCIAL TRUST 160,650 222,421 1.78% 441,365 3.53%

United States ISHARES MSCI NEW ZEALAN ETF 2,000 113,360 0.91% ISHARES MSCI SOUTH KOREA ETF 1,200 68,556 0.55% ISHARES MSCI TAIWAN ETF 6,000 241,320 1.93% 423,236 3.39% 864,601 6.92%

EQUITY SECURITIES

Australia ASX LTD 1,800 105,888 0.85% BHP GROUP LTD 5,000 123,400 0.99% FORTESCUE METALS GROUP LTD 10,898 103,996 0.83% INSURANCE AUSTRALIA GROUP LTD 26,000 103,364 0.83% RIO TINTO LTD 2,968 200,324 1.60% WESFARMERS LTD 7,600 234,748 1.88%

871,720 6.98%

China KWEICHOW MOUTAI CO LTD-A 1,100 227,644 1.81% SANY HEAVY INDUSTRY CO LTD-A 31,000 82,271 0.66% WULIANGYE YIBIN CO LTD-A 5,500 133,143 1.07% ZHANGZHOU PIENTZEHUANG PHARMACEUTICAL CO LTD-A 9,000 216,762 1.74% 659,820 5.28%

– 196 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIA PACIFIC HIGH INCOME FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

EQUITY SECURITIES (CONTINUED)

Hong Kong AIA GROUP LTD 46,000 429,107 3.44% BOC HONG KONG (HLDGS) LTD 30,000 95,413 0.76% CHINA CONSTRUCTION BANK CORP-H 571,000 461,927 3.70% CHINA MERCHANTS BANK CO LTD-H 10,000 45,997 0.37% CHINA MOBILE LTD 30,000 202,439 1.62% CHINA OVERSEAS LAND & INVESTMENT LTD 30,000 90,768 0.73% CHINA PETROLEUM & CHEMICAL CORP-H 120,000 50,010 0.40% CHINA RESOURCES LAND LTD 18,000 68,163 0.55% CHINA TOWER CORP LTD-H 500,000 88,381 0.71% CHINA VANKE CO LTD-H 15,600 49,313 0.39% CITIC SECURITIES CO LTD-H 30,000 56,745 0.45% CLP HLDGS LTD 8,000 78,447 0.63% CNOOC LTD 110,000 122,340 0.98% GALAXY ENTERTAINMENT GROUP LTD 10,000 68,060 0.55% GUANGDONG INVESTMENT LTD 20,000 34,320 0.27% HKT TRUST AND HKT LTD 36,000 52,673 0.42% HONG KONG & CHINA GAS CO LTD 15,750 24,386 0.20% INDUSTRIAL & COMMERCIAL BK OF CHINA-H 625,000 379,007 3.04% PING AN INSURANCE GROUP CO OF CHINA LTD-H 15,000 149,990 1.20% POWER ASSETS HLDGS LTD 2,000 10,877 0.09% SANDS CHINA LTD 8,800 34,516 0.28% SUN HUNG KAI PROPERTIES LTD 8,000 102,135 0.82% 2,695,014 21.60%

Singapore DBS GROUP HLDGS LTD 18,000 268,580 2.15% OVERSEA-CHINESE BANKING CORP LTD 9,300 60,043 0.48% SINGAPORE TELECOMMUNICATIONS LTD 60,000 105,882 0.85% UNITED OVERSEAS BANK LTD 11,000 159,634 1.28% 594,139 4.76%

United States BERKSHIRE HATHAWAY INC-CL B 500 89,255 0.72% COSTCO WHOLESALE CORP 150 45,482 0.36% 134,737 1.08% 4,955,430 39.70%

– 197 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIA PACIFIC HIGH INCOME FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBT SECURITIES

British Virgin Islands CENTRAL PLAZA DEVELOPMENT LTD 5.75% S/A PERP 200,000 196,463 1.57% GREENLAND GLOBAL INVESTMENT LTD 5.75% S/A 26SEP2022 250,000 250,786 2.00% RADIANCE CAPITAL INVESTMENTS LTD 10.5% S/A 16JAN2022 200,000 212,931 1.71% WANDA PROPERTIES OVERSEAS LTD 6.875% S/A 23JUL2023 200,000 196,933 1.58% 857,113 6.86%

Cayman CENTRAL CHINA REAL ESTATE LTD 6.875% S/A 10FEB2021 200,000 205,555 1.65% CFLD CAYMAN INVESTMENT LTD 6.9% S/A 13JAN2023 200,000 204,294 1.64% CHINA AOYUAN GROUP LTD 7.95% S/A 19FEB2023 200,000 213,962 1.71% COUNTRY GARDEN HLDGS CO LTD 7.25% S/A 08APR2026 250,000 276,834 2.22% DEXIN CHINA HLDGS CO LTD 11.875% S/A 23APR2022 200,000 199,340 1.60% HEALTH AND HAPPINESS H&H INTL HLDGS LTD 5.625% S/A 24OCT2024 200,000 206,738 1.66% KAISA GROUP HLDGS LTD 11.75% S/A 26FEB2021 200,000 214,130 1.71% KAISA GROUP HLDGS LTD 6.75% S/A 18FEB2021 200,000 204,851 1.64% POWERLONG REAL ESTATE HLDGS LTD 6.95% S/A 23JUL2023 200,000 207,021 1.66% RONSHINE CHINA HLDGS LTD 11.25% S/A 22AUG2021 200,000 219,073 1.75% SUNAC CHINA HLDGS LTD 8.35% S/A 19APR2023 300,000 314,738 2.51% TIMES CHINA HLDGS LTD 6.75% S/A 16JUL2023 250,000 262,334 2.10% ZHENRO PROPERTIES GROUP LTD 7.875% S/A 14APR2024 200,000 197,950 1.59% 2,926,820 23.44%

– 198 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIA PACIFIC HIGH INCOME FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBT SECURITIES (CONTINUED)

France BNP PARIBAS SA 4.5% S/A PERP REGS 200,000 179,496 1.44%

Hong Kong YANGO JUSTICE INTL LTD 9.5% S/A 03APR2021 200,000 207,794 1.66%

India MANAPPURAM FINANCE LTD 5.9% S/A 13JAN2023 200,000 193,519 1.55%

Indonesia PERTAMINA PERSERO 4.175% S/A 21JAN2050 REGS 300,000 303,920 2.43%

Malaysia SD INTL SUKUK LTD 6.3% S/A 09MAY2022 200,000 160,476 1.29%

Netherlands ING GROEP NV 4.875% S/A PERP 200,000 189,819 1.52%

Singapore MEDCO OAK TREE PTE LTD 7.375% S/A 14MAY2026 REGS 200,000 187,634 1.50% MEDCO PLATINUM ROAD PTE LTD 6.75% S/A 30JAN2025 REGS 250,000 240,281 1.93% 427,915 3.43%

United Kingdom PHOENIX GROUP HLDGS PLC 5.625% S/A PERP 200,000 196,387 1.57% 5,643,259 45.19%

– 199 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER ASIA PACIFIC HIGH INCOME FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEPOSITORY RECEIPTS

Taiwan TAIWAN SEMICONDUCTOR MANUFACTURING-ADR 3,000 170,310 1.36%

United Kingdom SAMSUNG ELECTRONICS CO LTD- PREFERENCE SHARE-GDR REGS 268 259,156 2.08% 429,466 3.44%

FOREIGN CURRENCY FORWARD CONTRACTS

Buy AUD946,021.00 and Sell USD651,501.01 420 0.00% Buy RMB13,570,603.00 and Sell USD1,915,047.77 1,477 0.01% 1,897 0.01%

TOTAL LISTED/QUOTED INVESTMENTS 11,894,653 95.26%

OTHER NET ASSETS 591,618 4.74%

NET ASSETS AS AT 30 June 2020 (AT TRADING VALUE) 12,486,271 100.00%

TOTAL INVESTMENTS, AT COST 12,127,929

Note: Investments are accounted for on a trade-date basis.

– 200 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER SHORT TERM BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments nominal value USD Assets

COLLECTIVE INVESTMENT SCHEMES

Australia QIC PING AN CHINA CORPORATE BOND FUND-CL C-CNY 3,395,202 4,749,592 1.52% QIC PING AN CHINA CORPORATE BOND FUND-CL C-USD 4,993,235 4,933,833 1.58% 9,683,425 3.10%

DEBT SECURITIES

Bermuda HAITONG INTL SECURITIES GROUP LTD 3.375% S/A 19JUL2024 440,000 462,549 0.15% SHENZHEN INTL HLDGS LTD 3.95% S/A PERP 1,000,000 1,010,741 0.32% 1,473,290 0.47%

British Virgin Islands AMBER TREASURE VENTURES LTD 2.9% S/A 11JUN2022 9,740,000 9,780,042 3.13% AMBER TREASURE VENTURES LTD 3.15% S/A 21JUL2020 7,600,000 7,710,732 2.47% AMBER TREASURE VENTURES LTD 3.5% S/A 08MAY2022 4,200,000 4,246,128 1.36% BLUESTAR FINANCE HLDGS LTD 3.375% S/A 16JUL2024 560,000 586,353 0.19% BLUESTAR FINANCE HLDGS LTD 6.25% S/A PERP 1,000,000 1,044,535 0.33% CCCI TREASURE LTD 3.65% S/A PERP 1,000,000 1,008,151 0.32% CHALCO HONG KONG INVESTMENT CO 4.25% S/A PERP 4,000,000 4,068,958 1.30% CHANG DEVELOPMENT INTL LTD 3.9% S/A 12SEP2022 1,000,000 1,009,858 0.32% CHANG DEVELOPMENT INTL LTD 5.7% S/A 08NOV2021 1,000,000 1,018,482 0.33% CHINA GREAT WALL INTL HLDGS III LTD 2.75% S/A 31AUG2020 1,000,000 1,011,199 0.32% CHINALCO CAPITAL HLDGS LTD 4.1% S/A PERP 2,670,000 2,719,976 0.87% CHOUZHOU INTL INVESTMENT LTD 4% S/A 05DEC2020 1,000,000 1,006,569 0.32% CHOUZHOU INTL INVESTMENT LTD 4.5% S/A 30MAY2022 1,000,000 1,015,645 0.32% CICC FINANCIAL PRODUCTS LTD 2.3% A 21MAY2021 10,000,000 10,065,916 3.22%

– 201 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER SHORT TERM BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBT SECURITIES (CONTINUED)

British Virgin Islands (Continued) CICC HONG KONG FINANCE 2016 MTN LTD 3M L+1.2% Q 11SEP2021 1,250,000 1,242,677 0.40% CICC HONG KONG FINANCE 2016 MTN LTD 3M L+1.2% Q 25APR2021 1,600,000 1,600,923 0.51% CMB INTL GLOBAL PRODUCTS LTD 1.73% A 24AUG2020 10,000,000 10,019,042 3.21% COASTAL EMERALD LTD 3.8% S/A 01JUN2021 500,000 503,023 0.16% COASTAL EMERALD LTD 3.95% S/A 01AUG2022 1,000,000 1,016,058 0.33% DIANJIAN HAIYU LTD 3.5% S/A PERP 4,256,000 4,279,079 1.37% EASTERN CREATION II INVESTMENT HLDGS LTD 2.75% S/A 26SEP2020 3,000,000 3,029,541 0.97% GUANGZHOU SILK ROAD INVESTMENT LTD 3.85% S/A 07DEC2021 1,000,000 1,014,007 0.32% HAITONG INTL FINANCE 2015 LTD 4.2% S/A 29JUL2020 11,780,000 12,009,277 3.84% HUARONG FINANCE 2017 CO LTD 4% S/A PERP 2,500,000 2,526,775 0.81% HUARONG FINANCE 2017 CO LTD 4.5% S/A PERP 1,000,000 1,028,315 0.33% HUARONG FINANCE II CO LTD 2.875% S/A PERP 3,000,000 2,991,844 0.96% HUARONG UNIVERSE INVESTMENT HLDG LTD 1.625% A 05DEC2022 3,340,000 3,606,230 1.15% SDG FINANCE I LTD 5.3% S/A PERP 1,000,000 1,016,341 0.33% SUNNY EXPRESS ENTERPRISES CORP 3.35% S/A PERP 200,000 201,752 0.06% SUNNY EXPRESS ENTERPRISES CORP 3.5% S/A 21MAR2022 1,130,000 1,175,282 0.38% VERTEX CAPITAL INVESTMENT LTD 4.75% S/A 03APR2024 500,000 530,086 0.17% YIELDKING INVESTMENT LTD 4.8% S/A 18OCT2021 800,000 826,587 0.26% ZHONGYUAN SINCERE INVESTMENT CO LTD 4.25% S/A 28JUN2024 200,000 205,191 0.07% 95,114,574 30.43%

Cayman CDBL FUNDING 2 3.75% S/A 11MAR2022 3,000,000 3,126,505 1.00% CHINA RESOURCES LAND LTD 3.75% S/A PERP 1,000,000 1,016,702 0.33% CHINA STATE CONSTRUCTION FINANCE CAYMAN I LTD 6% S/A PERP 2,000,000 2,091,813 0.67% SUNRISE CAYMAN LTD 5.25% S/A 11MAR2024 6,000,000 6,348,850 2.03% 12,583,870 4.03%

– 202 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER SHORT TERM BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBT SECURITIES (CONTINUED)

China ANHUI PROVINCIAL INVESTMENT GROUP HLDG CO LTD 4.875% S/A 18OCT2021 1,460,000 1,507,838 0.48% BANK OF COMMUNICATIONS CO LTD 3.625% S/A 03OCT2026 4,925,000 5,656,399 1.81% BANK OF COMMUNICATIONS CO LTD/HONG KONG 3M L+0.78% Q 21MAR2022 6,000,000 5,995,749 1.92% GANSU PROVINCIAL HIGHWAY AVIATION TOURISM INVESTMENT GROUP CO LTD 3.875% S/A 05JUL2022 1,500,000 1,529,857 0.49% JIC LEASING SHANGHAI CO LTD ABS 4.5% Q 26MAY2021 SHCH 10,000,000 174,038 0.06% KUNMING RAIL TRANSIT GROUP CO LTD 3.5% S/A 12DEC2022 800,000 798,694 0.26% VOYAGE BONDS LTD 3.375% S/A 28SEP2022 1,000,000 1,038,329 0.33% WUHAN METRO GROUP CO LTD 5.98% S/A PERP 2,310,000 2,388,052 0.76% XIAN MUNICIPAL INFRASTRUCTURE CONSTRUCTION INVESTMENT GROUP CO LTD 4% S/A 24JUN2022 1,000,000 1,011,178 0.32% 20,100,134 6.43%

Hong Kong ANHUI TRANSPORTATION HLDG GROUP HK LTD 4.875% S/A 13SEP2021 400,000 413,518 0.13% AVENUE INTL HLDG LTD 3.1% S/A 18FEB2021 4,700,000 4,724,367 1.51% AVENUE INTL HLDG LTD 3.25% S/A 25OCT2020 4,000,000 4,021,470 1.29% BOCOM LEASING MANAGEMENT HONG KONG CO LTD 3M L+1.075% Q 10DEC2024 5,000,000 4,882,189 1.56% CHINA HUARONG INTL HLDGS LTD 3.3% S/A 20MAY2021 11,000,000 11,049,994 3.54% CITIC LTD 2.45% S/A 25FEB2025 390,000 401,702 0.13% CNAC HK FINBRIDGE CO LTD 3.85% S/A 22DEC2020 3,000,000 3,028,808 0.97% HBIS GROUP HONG KONG CO LTD 3.75% S/A 18DEC2022 3,000,000 3,011,653 0.96% ICBCIL FINANCE CO LTD 3M L+0.95% Q 15MAY2021 6,000,000 5,982,015 1.91% 37,515,716 12.00%

– 203 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER SHORT TERM BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBT SECURITIES (CONTINUED)

Korea KEB HANA BANK 3M L+0.7% Q 02OCT2022 REGS 550,000 552,038 0.18% LOTTE PROPERTY & DEVELOPMENT CO LTD 3M L+0.775% Q 06AUG2022 390,000 389,253 0.12% 941,291 0.30% 177,412,300 56.76%

FOREIGN CURRENCY FORWARDS Buy RMB5,724,000.00 and Sell USD829,673.44 – (24,434) (0.01%) Buy RMB8,300,000.00 and Sell USD1,166,287.27 – 1,338 0.00% Buy RMB16,400,000.00 and Sell USD2,299,398.51 – 7,717 0.00% Buy USD830,234.27 and Sell CNY5,800,000.00 – 12,901 0.00% Buy USD3,514,197.36 and Sell CNY25,000,000.00 – 4,773 0.00% Buy USD5,802,412.65 and Sell EUR5,165,000.00 – (6,340) 0.00% Buy USD2,117,500.00 and Sell EUR1,900,000.00 – (21,800) (0.01%) Buy USD1,513,018.29 and Sell EUR1,328,000.00 – 12,330 0.00% Buy USD4,606,702.75 and Sell RMB32,000,000.00 – 105,001 0.03% Buy EUR70,000,000.00 and Sell USD79,709,000.00 – (980,746) (0.30%) Buy EUR60,000,000.00 and Sell USD67,404,600.00 – 195,185 0.07% (694,075) (0.22%)

TOTAL LISTED/QUOTED INVESTMENTS 176,718,225 56.54%

OTHER NET ASSETS 136,124,310 43.46%

NET ASSETS AS AT 30 June 2020 (AT TRADING VALUE) 312,537,629 100.00%

TOTAL INVESTMENTS, AT COST 176,552,321

Note: Investments are accounted for on a trade-date basis.

– 204 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER BELT AND ROAD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments nominal value USD Assets

COLLECTIVE INVESTMENT SCHEMES

Australia QIC PING AN CHINA CORPORATE BOND FUND-CL C-USD 299,444 296,030 1.30%

Hong Kong BOCHK WEALTH CREATION SERIES-BOCHK ALL WEATHER HONG KONG EQUITY FUND-X1 505,051 631,434 2.77% 927,464 4.07%

Equity Securities

China JIANGSU HENGRUI MEDICINE CO LTD-A 12,600 164,523 0.72% KWEICHOW MOUTAI CO LTD-A 800 165,559 0.73% WULIANGYE YIBIN CO LTD-A 7,100 171,875 0.75% 501,957 2.20%

Hong Kong ALIBABA GROUP HLDG LTD 5,000 135,217 0.59% CHINA SCE GROUP HLDGS LTD 274,000 118,785 0.52% CSPC PHARMACEUTICAL GROUP LTD 69,600 131,468 0.58% LONGFOR GROUP HLDGS LTD 27,000 128,372 0.56% 513,842 2.25% United States QUALCOMM INC 1,800 164,178 0.72% 1,179,977 5.17%

DEBT SECURITIES

British Virgin Islands BLUESTAR FINANCE HLDGS LTD 6.25% S/A PERP 200,000 208,907 0.92% CCCI TREASURE LTD 3.425% S/A PERP 300,000 302,018 1.32% CCCI TREASURE LTD 3.65% S/A PERP 200,000 201,630 0.88% CENTRAL PLAZA DEVELOPMENT LTD 5.75% S/A PERP 200,000 196,463 0.86% CHANG DEVELOPMENT INTL LTD 5.7% S/A 08NOV2021 200,000 203,696 0.89%

– 205 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER BELT AND ROAD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBT SECURITIES (CONTINUED)

British Virgin Islands (Continued) CHINA CINDA FINANCE 2015 I LTD 4.25% S/A 23APR2025 REGS 200,000 220,986 0.97% CHINA CINDA FINANCE 2017 I LTD 3.875% S/A 08FEB2023 200,000 213,382 0.94% CHINA GREAT WALL INTL HLDGS IV LTD 3.95% S/A PERP 250,000 256,442 1.12% CHINA HUADIAN OVERSEAS DEVELOPMENT MANAGEMENT CO LTD 4% S/A PERP 500,000 517,282 2.27% CHINALCO CAPITAL HLDGS LTD 4.1% S/A PERP 300,000 305,615 1.34% CHOUZHOU INTL INVESTMENT LTD 4% S/A 18FEB2025 250,000 245,124 1.07% CLP POWER HK FINANCE LTD 3.55% S/A PERP 230,000 234,239 1.03% DIANJIAN HAIYU LTD 4.3% S/A PERP 350,000 354,408 1.55% FRANSHION BRILLIANT LTD 4.25% S/A 23JUL2029 200,000 205,431 0.90% HUARONG FINANCE 2019 CO LTD 4.5% S/A 29MAY2029 300,000 322,416 1.41% MINMETALS BOUNTEOUS FINANCE BVI LTD 3.375% S/A PERP 200,000 202,951 0.89% RADIANCE CAPITAL INVESTMENTS LTD 10.5% S/A 16JAN2022 200,000 212,931 0.93% SINO-OCEAN LAND TREASURE IV LTD 4.75% S/A 14JAN2030 300,000 306,421 1.34% SPIC 2018 USD SENIOR PERPETUAL BOND CO LTD 5.8% S/A PERP 200,000 210,147 0.92% SUNNY EXPRESS ENTERPRISES CORP 3.35% S/A PERP 200,000 201,752 0.88% UHI CAPITAL LTD 3% S/A 12JUN2024 200,000 206,591 0.91% VERTEX CAPITAL INVESTMENT LTD 4.75% S/A 03APR2024 300,000 318,051 1.39% WANDA PROPERTIES OVERSEAS LTD 6.875% S/A 23JUL2023 200,000 196,933 0.86% YONGDA INVESTMENT LTD 2.25% S/A 16JUN2025 200,000 201,256 0.88% ZHONGYUAN SINCERE INVESTMENT CO LTD 4.25% S/A 28JUN2024 200,000 205,191 0.90% 6,250,263 27.37%

– 206 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER BELT AND ROAD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBT SECURITIES (CONTINUED)

Cayman AGILE GROUP HLDGS LTD 7.875% S/A PERP 200,000 203,928 0.89% ANTON OILFIELD SERVICES GROUP/HONG KONG 7.5% S/A 02DEC2022 200,000 130,262 0.57% CENTRAL CHINA REAL ESTATE LTD 6.75% S/A 08NOV2021 250,000 251,722 1.10% CENTRAL CHINA REAL ESTATE LTD 6.875% S/A 10FEB2021 200,000 205,555 0.90% CFLD CAYMAN INVESTMENT LTD 6.9% S/A 13JAN2023 200,000 204,294 0.89% CFLD CAYMAN INVESTMENT LTD 9% S/A 31JUL2021 250,000 265,923 1.16% CHINA AOYUAN GROUP LTD 7.95% S/A 19FEB2023 250,000 267,453 1.17% CHINA MENGNIU DAIRY CO LTD 1.875% S/A 17JUN2025 200,000 199,374 0.87% CHINA SCE GROUP HLDGS LTD 7.25% S/A 19APR2023 250,000 253,710 1.11% CHINA STATE CONSTRUCTION FINANCE CAYMAN III LTD 4% S/A PERP 500,000 503,461 2.21% CK HUTCHISON INTL 19 II LTD 3.375% S/A 06SEP2049 REGS 250,000 273,430 1.20% COUNTRY GARDEN HLDGS CO LTD 6.15% S/A 17SEP2025 200,000 216,201 0.95% COUNTRY GARDEN HLDGS CO LTD 7.25% S/A 08APR2026 500,000 553,668 2.43% DEXIN CHINA HLDGS CO LTD 11.875% S/A 23APR2022 200,000 199,340 0.87% GOLDEN WHEEL TIANDI HLDGS CO LTD 7% S/A 18JAN2021 250,000 254,499 1.11% HEALTH AND HAPPINESS H&H INTL HLDGS LTD 5.625% S/A 24OCT2024 200,000 206,738 0.91% JD.COM INC 3.375% S/A 14JAN2030 250,000 270,887 1.19% KAISA GROUP HLDGS LTD 6.75% S/A 18FEB2021 200,000 204,851 0.90% POWERLONG REAL ESTATE HLDGS LTD 7.125% S/A 08NOV2022 200,000 204,864 0.90% REDCO PROPERTIES GROUP LTD 11.5% S/A 08DEC2020 250,000 249,190 1.09% RONSHINE CHINA HLDGS LTD 10.5% S/A 01MAR2022 250,000 274,330 1.20%

– 207 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER BELT AND ROAD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBT SECURITIES (CONTINUED)

Cayman (Continued) SHIMAO PROPERTY HLDGS LTD 5.6% S/A 15JUL2026 300,000 324,301 1.42% SUNAC CHINA HLDGS LTD 7.25% S/A 14JUN2022 300,000 306,115 1.34% TIMES CHINA HLDGS LTD 5.75% S/A 26APR2022 250,000 253,475 1.11% TIMES CHINA HLDGS LTD 6.75% S/A 16JUL2023 300,000 314,801 1.38% YUZHOU PROPERTIES CO LTD 8.5% S/A 04FEB2023 200,000 215,382 0.94% ZHENRO PROPERTIES GROUP LTD 7.875% S/A 14APR2024 200,000 197,950 0.87% 7,005,704 30.68%

China CHINA CONSTRUCTION BANK CORP 2.45% S/A 24JUN2030 200,000 199,679 0.87% SHOUGANG GROUP CO LTD 4% S/A 23MAY2024 400,000 428,641 1.88% 628,320 2.75%

France BNP PARIBAS SA 4.5% S/A PERP REGS 200,000 179,496 0.79%

Hong Kong CHALIECO HONG KONG CORP LTD 5% S/A PERP 250,000 250,456 1.10% CITIC LTD 2.45% S/A 25FEB2025 200,000 206,001 0.90% CITIC LTD 2.85% S/A 25FEB2030 220,000 228,795 1.00% SHANGRAO INVESTMENT HLDGS INTL CO LTD 4.3% S/A 16JAN2023 240,000 246,532 1.08% 931,784 4.08%

India ADANI PORTS & SPECIAL ECONOMIC ZONE LTD 4.375% S/A 03JUL2029 REGS 200,000 201,114 0.88% ADANI TRANSMISSION LTD 4.25% S/A 21MAY2036 REGS 200,000 192,943 0.85% MANAPPURAM FINANCE LTD 5.9% S/A 13JAN2023 200,000 193,519 0.85% POWER FINANCE CORP LTD 4.5% S/A 18JUN2029 200,000 199,221 0.87% 786,797 3.45%

– 208 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER BELT AND ROAD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBT SECURITIES (CONTINUED)

Indonesia BANK TABUNGAN NEGARA PERSERO TBK 4.2% S/A 23JAN2025 200,000 195,609 0.86% INDONESIA ASAHAN ALUMINIUM TBK 6.53% S/A 15NOV2028 REGS 200,000 239,251 1.05% INDONESIA TREASURY BOND 8.375% S/A 15MAR2034 6,600,000,000 498,860 2.18% PERUSAHAAN LISTRIK NEGARA 3.375% S/A 05FEB2030 REGS 320,000 333,275 1.46% PERUSAHAAN LISTRIK NEGARA 5.45% S/A 21MAY2028 REGS 400,000 464,710 2.04% 1,731,705 7.59%

Japan NIPPON LIFE INSURANCE CO 3.4% S/A 23JAN2050 REGS 200,000 208,546 0.91%

Malaysia SD INTL SUKUK LTD 6.3% S/A 09MAY2022 200,000 160,476 0.70%

Netherlands ING GROEP NV 4.875% S/A PERP 250,000 189,819 0.83%

Philippines PLDT INC 2.5% S/A 23JAN2031 290,000 203,279 0.89%

Singapore BOC AVIATION LTD 2.75% S/A 02DEC2023 500,000 505,397 2.21% DBS GROUP HLDGS LTD 3.3% S/A PERP 250,000 248,722 1.09% 754,119 3.30%

Sri Lanka SRI LANKA GOVERNMENT INTL BOND 6.35% S/A 28JUN2024 REGS 400,000 281,292 1.23%

Thailand PTTEP TREASURY CENTER CO LTD 2.587% S/A 10JUN2027 REGS 200,000 205,070 0.90%

– 209 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER BELT AND ROAD BOND FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBT SECURITIES (CONTINUED)

United Kingdom ROYAL BANK OF SCOTLAND GROUP PLC 3.754% S/A 01NOV2029 300,000 312,056 1.37% 19,828,776 86.81%

FOREIGN CURRENCY FORWARD CONTRACTS

Buy CNY31,336,883.27 and Sell USD4,422,178.47 3,412 0.01% 3,412 0.01%

TOTAL LISTED/QUOTED INVESTMENTS 21,939,579 96.06%

OTHER NET ASSETS 891,830 3.94%

NET ASSETS AS AT 30 June 2020 (AT TRADING VALUE) 22,831,409 100.00%

TOTAL INVESTMENTS, AT COST 21,496,000

Note: Investments are accounted for on a trade-date basis.

– 210 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND

INVESTMENT PORTFOLIO (UNAUDITED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments nominal value USD Assets

COLLECTIVE INVESTMENT SCHEMES

Hong Kong QIC PING AN CHINA CORPORATE BOND FUND-CL C-USD 1,896,476 1,874,857 1.00% 1,874,857 1.00%

DEBIT SECURITIES

Australia MACQUARIE BANK LTD 3.624% S/A 03JUN2030 REGS 230,000 242,845 0.13% SANTOS FINANCE LTD 5.25% S/A 13MAR2029 1,000,000 1,093,020 0.58% WESTPAC BANKING CORP 2.35% S/A 19FEB2025 1,000,000 1,071,297 0.57% 2,407,162 1.28%

Bermuda CHINA OIL AND GAS GROUP LTD 5.5% S/A 25JAN2023 750,000 764,635 0.41% HAITONG INTL SECURITIES GROUP LTD 3.125% S/A 18MAY2025 1,500,000 1,547,854 0.82% HAITONG INTL SECURITIES GROUP LTD 3.375% S/A 19JUL2024 750,000 788,436 0.42% 3,100,925 1.65%

British Virgin Islands AMBER TREASURE VENTURES LTD 2.9% S/A 11JUN2022 630,000 632,590 0.34% BLUESTAR FINANCE HLDGS LTD 3.375% S/A 16JUL2024 500,000 523,529 0.28% BLUESTAR FINANCE HLDGS LTD 3.875% S/A PERP 500,000 499,537 0.27% BLUESTAR FINANCE HLDGS LTD 6.25% S/A PERP 1,000,000 1,044,535 0.56% CCCI TREASURE LTD 3.425% S/A PERP 1,200,000 1,208,074 0.64% CCCI TREASURE LTD 3.65% S/A PERP 640,000 645,216 0.34% CENTRAL PLAZA DEVELOPMENT LTD 5.75% S/A PERP 500,000 491,158 0.26%

–211– BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBIT SECURITIES (CONTINUED)

British Virgin Islands (Continued) CHINA HUADIAN OVERSEAS DEVELOPMENT MANAGEMENT CO LTD 4% S/A PERP 2,000,000 2,069,131 1.10% CHINALCO CAPITAL HLDGS LTD 4.1% S/A PERP 1,000,000 1,018,718 0.54% CHOUZHOU INTL INVESTMENT LTD 4% S/A 18FEB2025 300,000 294,149 0.16% CICC HONG KONG FINANCE 2016 MTN LTD 3M L+1.175% Q 03MAY2022 3,450,000 3,414,531 1.83% COASTAL EMERALD LTD 4.3% S/A PERP 2,000,000 2,051,833 1.09% ENN CLEAN ENERGY INTL INVESTMENT LTD 7.5% S/A 27FEB2021 500,000 518,782 0.28% FORTUNE STAR BVI LTD 6.85% S/A 02JUL2024 800,000 810,912 0.43% FRANSHION BRILLIANT LTD 4.25% S/A 23JUL2029 1,000,000 1,027,153 0.55% HONGKONG ELECTRIC FINANCE LTD 2.25% S/A 09JUN2030 1,000,000 995,365 0.53% HUANENG HONG KONG CAPITAL LTD 3.6% S/A PERP 1,000,000 1,009,340 0.54% HUARONG FINANCE 2017 CO LTD 4.95% S/A 07NOV2047 500,000 509,568 0.27% HUARONG FINANCE 2019 CO LTD 3.375% S/A 24FEB2030 1,000,000 994,176 0.53% HUARONG FINANCE 2019 CO LTD 3.875% S/A 13NOV2029 890,000 915,869 0.49% HUARONG FINANCE II CO LTD 2.875% S/A PERP 1,000,000 997,755 0.53% JOY TREASURE ASSETS HLDGS INC 3.5% S/A 24SEP2029 1,000,000 1,076,681 0.57% MINMETALS BOUNTEOUS FINANCE BVI LTD 3.375% S/A PERP 610,000 618,999 0.33% NWD MTN LTD 4.125% S/A 18JUL2029 1,000,000 1,005,437 0.54% PROVEN HONOUR CAPITAL LTD 4.125% S/A 06MAY2026 1,000,000 1,060,242 0.56% RKPF OVERSEAS 2019 A LTD 6.7% S/A 30SEP2024 870,000 898,889 0.48% RONGSHI INTL FINANCE LTD 3.25% S/A 21MAY2024 1,100,000 1,166,265 0.62%

– 212 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBIT SECURITIES (CONTINUED)

British Virgin Islands (Continued) SCENERY JOURNEY LTD 11% S/A 06NOV2020 1,000,000 1,024,726 0.55% SCENERY JOURNEY LTD 11.5% S/A 24OCT2022 500,000 498,016 0.27% SHANDONG IRON AND STEEL XINHENG INTL CO LTD 6.85% S/A 25SEP2022 1,000,000 1,012,897 0.54% SHANGHAI PORT GROUP BVI DEVELOPMENT CO LTD 2.85% S/A 11SEP2029 500,000 525,579 0.28% SIHC INTL CAPITAL LTD 4.35% S/A 26SEP2023 500,000 543,760 0.29% SINOPEC GROUP OVERSEAS DEVELOPMENT 2018 LTD 3.44% S/A 12NOV2049 REGS 1,000,000 1,090,342 0.58% STANDARD CHARTERED PLC 6% S/A PERP 1,000,000 1,001,563 0.53% SUNNY EXPRESS ENTERPRISES CORP 3.35% S/A PERP 200,000 201,752 0.11% TOWNGAS FINANCE LTD 4.75% S/A PERP 1,000,000 1,053,320 0.56% UHI CAPITAL LTD 3% S/A 12JUN2024 500,000 516,477 0.27% VERTEX CAPITAL INVESTMENT LTD 4.75% S/A 03APR2024 960,000 1,017,764 0.54% VIGOROUS CHAMPION INTL LTD 2.75% S/A 02JUN2025 1,150,000 1,155,814 0.62% VIGOROUS CHAMPION INTL LTD 4.25% S/A 28MAY2029 900,000 980,951 0.52% WANDA PROPERTIES OVERSEAS LTD 6.875% S/A 23JUL2023 1,000,000 984,664 0.52% WANDA PROPERTIES OVERSEAS LTD 6.95% S/A 05DEC2022 900,000 886,473 0.47% WHARF REIC FINANCE BVI LTD 2.875% S/A 07MAY2030 1,500,000 1,531,204 0.81% YONGDA INVESTMENT LTD 2.25% S/A 16JUN2025 500,000 503,139 0.27% ZHONGYUAN SINCERE INVESTMENT CO LTD 4.25% S/A 28JUN2024 300,000 307,786 0.16% 42,334,661 22.55%

Cayman 21VIANET GROUP INC 7.875% S/A 15OCT2021 2,040,000 2,102,577 1.12% AAC TECHNOLOGIES HLDGS INC 3% S/A 27NOV2024 1,800,000 1,789,962 0.95% AGILE GROUP HLDGS LTD 7.75% S/A PERP 600,000 585,900 0.31% AGILE GROUP HLDGS LTD 7.875% S/A PERP 200,000 203,928 0.11%

– 213 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBIT SECURITIES (CONTINUED)

Cayman (Continued) AGILE GROUP HLDGS LTD 8.375% S/A PERP 1,300,000 1,312,105 0.70% ANTON OILFIELD SERVICES GROUP/HONG KONG 7.5% S/A 02DEC2022 700,000 455,918 0.24% CCBL CAYMAN 1 CORP LTD 3.5% S/A 16MAY2024 2,400,000 2,543,124 1.36% CDBL FUNDING 1 3.5% S/A 24OCT2027 1,000,000 1,053,394 0.56% CENTRAL CHINA REAL ESTATE LTD 6.875% S/A 08AUG2022 1,000,000 1,018,389 0.54% CENTRAL CHINA REAL ESTATE LTD 7.65% S/A 27AUG2023 1,000,000 995,810 0.53% CENTRAL CHINA REAL ESTATE LTD 7.9% S/A 07NOV2023 1,500,000 1,515,390 0.81% CFLD CAYMAN INVESTMENT LTD 9% S/A 31JUL2021 1,000,000 1,063,690 0.57% CHINA AOYUAN GROUP LTD 6.35% S/A 08FEB2024 1,500,000 1,489,755 0.79% CHINA AOYUAN GROUP LTD 7.95% S/A 19FEB2023 1,500,000 1,604,715 0.85% CHINA AOYUAN GROUP LTD 8.5% S/A 23JAN2022 1,900,000 2,035,861 1.08% CHINA MENGNIU DAIRY CO LTD 1.875% S/A 17JUN2025 500,000 498,435 0.27% CHINA OVERSEAS FINANCE CAYMAN VIII LTD 2.75% S/A 02MAR2030 860,000 883,547 0.47% CHINA OVERSEAS FINANCE CAYMAN VIII LTD 3.125% S/A 02MAR2035 500,000 513,740 0.27% CHINA OVERSEAS FINANCE CAYMAN VIII LTD 3.45% S/A 15JUL2029 1,000,000 1,091,738 0.58% CHINA RESOURCES LAND LTD 3.75% S/A PERP 840,000 854,029 0.45% CHINA RESOURCES LAND LTD 4.125% S/A 26FEB2029 1,000,000 1,134,473 0.60% CHINA SCE GROUP HLDGS LTD 7.25% S/A 19APR2023 1,500,000 1,522,260 0.81% CHINA SCE PROPERTY HLDGS LTD 5.875% S/A 10MAR2022 1,300,000 1,305,336 0.69% CHINA STATE CONSTRUCTION FINANCE CAYMAN III LTD 4% S/A PERP 2,000,000 2,013,842 1.07%

– 214 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBIT SECURITIES (CONTINUED)

Cayman (Continued) CK HUTCHISON INTL 19 II LTD 3.375% S/A 06SEP2049 REGS 500,000 546,861 0.29% COUNTRY GARDEN HLDGS CO LTD 5.125% S/A 14JAN2027 500,000 515,947 0.27% COUNTRY GARDEN HLDGS CO LTD 5.4% S/A 27MAY2025 1,000,000 1,045,720 0.56% COUNTRY GARDEN HLDGS CO LTD 5.625% S/A 14JAN2030 600,000 633,788 0.34% COUNTRY GARDEN HLDGS CO LTD 6.15% S/A 17SEP2025 1,100,000 1,189,107 0.63% COUNTRY GARDEN HLDGS CO LTD 6.5% S/A 08APR2024 1,000,000 1,079,986 0.57% COUNTRY GARDEN HLDGS CO LTD 7.25% S/A 08APR2026 500,000 553,668 0.29% DEXIN CHINA HLDGS CO LTD 11.875% S/A 23APR2022 250,000 249,175 0.13% FUFENG GROUP LTD 5.875% S/A 28AUG2021 1,000,000 1,039,883 0.55% GOLDEN WHEEL TIANDI HLDGS CO LTD 7% S/A 18JAN2021 1,740,000 1,771,310 0.94% HEALTH AND HAPPINESS H&H INTL HLDGS LTD 5.625% S/A 24OCT2024 300,000 310,107 0.17% HONGKONG LAND FINANCE CAYMAN ISLAND CO LTD 2.875% S/A 27MAY2030 800,000 834,316 0.44% JD.COM INC 3.375% S/A 14JAN2030 650,000 704,305 0.37% KAISA GROUP HLDGS LTD 11.75% S/A 26FEB2021 2,400,000 2,569,557 1.38% KAISA GROUP HLDGS LTD 6.75% S/A 18FEB2021 1,000,000 1,024,253 0.55% KAISA GROUP HLDGS LTD 7.875% S/A 09JUN2021 2,500,000 2,522,259 1.35% KWG GROUP HLDGS LTD 7.875% S/A 01SEP2023 2,000,000 2,129,160 1.13% LOGAN GROUP CO LTD 5.75% S/A 14JAN2025 400,000 409,849 0.22% LOGAN GROUP CO LTD 6.5% S/A 16JUL2023 1,300,000 1,374,167 0.73% LOGAN GROUP CO LTD 7.5% S/A 25AUG2022 500,000 532,970 0.28% MGM CHINA HLDGS LTD 5.875% S/A 15MAY2026 REGS 200,000 208,353 0.11%

– 215 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBIT SECURITIES (CONTINUED)

Cayman (Continued) OVERSEAS CHINESE TOWN ASIA HLDGS LTD 4.3% S/A PERP 1,500,000 1,514,078 0.81% POWERLONG REAL ESTATE HLDGS LTD 6.95% S/A 17APR2021 2,000,000 2,049,752 1.09% POWERLONG REAL ESTATE HLDGS LTD 6.95% S/A 23JUL2023 500,000 517,551 0.28% POWERLONG REAL ESTATE HLDGS LTD 7.125% S/A 08NOV2022 500,000 512,160 0.27% REDCO PROPERTIES GROUP LTD 11.5% S/A 08DEC2020 1,000,000 996,758 0.53% REDSUN PROPERTIES GROUP LTD 13.5% S/A 03DEC2020 1,000,000 1,035,040 0.55% RONSHINE CHINA HLDGS LTD 10.5% S/A 01MAR2022 1,500,000 1,645,980 0.88% RONSHINE CHINA HLDGS LTD 8.75% S/A 25OCT2022 1,000,000 1,059,742 0.56% SEMICONDUCTOR MANUFACTURING INTL CORP 2.693% S/A 27FEB2025 1,000,000 1,006,556 0.54% SHIMAO PROPERTY HLDGS LTD 5.6% S/A 15JUL2026 2,000,000 2,162,004 1.15% SUN HUNG KAI PROPERTIES CAPITAL MARKET LTD 2.75% S/A 13MAY2030 1,000,000 1,020,907 0.54% SUN HUNG KAI PROPERTIES CAPITAL MARKET LTD 2.875% S/A 21JAN2030 500,000 519,589 0.28% SUNAC CHINA HLDGS LTD 7.25% S/A 14JUN2022 750,000 765,288 0.41% SUNAC CHINA HLDGS LTD 7.875% S/A 15FEB2022 1,000,000 1,056,460 0.56% SUNAC CHINA HLDGS LTD 8.35% S/A 19APR2023 1,000,000 1,049,130 0.56% SUNRISE CAYMAN LTD 5.25% S/A 11MAR2024 2,000,000 2,116,283 1.13% TENCENT HLDGS LTD 3.975% S/A 11APR2029 REGS 1,000,000 1,134,953 0.60% TIMES CHINA HLDGS LTD 6% S/A 05MAY2021 200,000 202,791 0.11% TIMES CHINA HLDGS LTD 6.75% S/A 16JUL2023 1,000,000 1,049,338 0.56% TIMES CHINA HLDGS LTD 7.625% S/A 21FEB2022 1,000,000 1,055,095 0.56%

– 216 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBIT SECURITIES (CONTINUED)

Cayman (Continued) WEIBO CORP 3.5% S/A 05JUL2024 1,000,000 1,050,691 0.56% YUZHOU PROPERTIES CO LTD 7.7% S/A 20FEB2025 1,300,000 1,310,607 0.70% YUZHOU PROPERTIES CO LTD 8.3% S/A 27MAY2025 1,500,000 1,497,403 0.80% YUZHOU PROPERTIES CO LTD 8.5% S/A 04FEB2023 500,000 538,454 0.29% ZHENRO PROPERTIES GROUP LTD 10.25% S/A PERP 700,000 727,067 0.39% ZHENRO PROPERTIES GROUP LTD 12.5% S/A 02JAN2021 500,000 532,031 0.28% ZHENRO PROPERTIES GROUP LTD 8.35% S/A 10MAR2024 600,000 597,533 0.32% ZHENRO PROPERTIES GROUP LTD 9.8% S/A 20AUG2021 500,000 532,771 0.28% 80,088,671 42.62% China BANK OF CHINA LTD/HONG KONG 3.625% S/A 17APR2029 640,000 729,172 0.39% CHENGDU TIANFU NEW AREA INVESTMENT GROUP CO LTD 4.65% S/A 07MAY2024 1,500,000 1,509,098 0.80% CHINA CONSTRUCTION BANK CORP 2.45% S/A 24JUN2030 1,000,000 998,396 0.53% CHINA CONSTRUCTION BANK CORP/HONG KONG 3M L+0.66% Q 22OCT2022 2,870,000 2,868,415 1.54% CHINA MINMETALS CORP 3.75% S/A PERP 2,000,000 2,027,840 1.08% CHINA MINMETALS CORP 4.45% S/A PERP 1,000,000 1,017,503 0.54% DALIAN DETA HLDG CO LTD 5.95% S/A 29JUL2022 500,000 494,801 0.26% INDUSTRIAL & COMMERCIAL BANK OF CHINA LTD/LUXEMBOURG 3M L+0.72% Q 11JUN2022 4,200,000 4,190,653 2.24% SHOUGANG GROUP CO LTD 4% S/A 23MAY2024 1,000,000 1,071,602 0.57% SICHUAN RAILWAY INVESTMENT GROUP CO LTD 3.8% S/A 27JUN2022 200,000 202,102 0.11% WUHAN METRO GROUP CO LTD 5.98% S/A PERP 200,000 206,758 0.11% 15,316,340 8.17%

– 217 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBIT SECURITIES (CONTINUED)

France CREDIT AGRICOLE SA 6.875% S/A PERP REGS 1,000,000 1,054,945 0.56% 1,054,945 0.56%

Germany COMMERZBANK AG 7% A PERP 600,000 590,193 0.31% 590,193 0.31%

Hong Kong BANK OF EAST ASIA LTD 4% S/A 29MAY2030 1,000,000 1,027,306 0.55% BOCOM LEASING MANAGEMENT HONG KONG CO LTD 3M L+0.83% Q 02MAR2023 1,160,000 1,139,927 0.61% BOCOM LEASING MANAGEMENT HONG KONG CO LTD 3M L+1.175% Q 05SEP2024 330,000 324,259 0.17% CHALIECO HONG KONG CORP LTD 5% S/A PERP 500,000 500,913 0.27% CHONG HING BANK LTD 5.7% S/A PERP 560,000 537,848 0.29% CITIC LTD 2.85% S/A 25FEB2030 650,000 675,984 0.36% CNAC HK FINBRIDGE CO LTD 5.125% S/A 14MAR2028 1,000,000 1,176,193 0.63% CRCC CHENGAN LTD 3.97% S/A PERP 2,000,000 2,032,122 1.07% ICBCIL FINANCE CO LTD 3M L+1.05% Q 20NOV2024 1,000,000 976,424 0.52% LEADER GOAL INTL LTD 4.25% S/A PERP 1,000,000 1,030,255 0.55% NANYANG COMMERCIAL BANK LTD 3.8% S/A 20NOV2029 1,500,000 1,512,237 0.80% SHANGRAO INVESTMENT HLDGS INTL CO LTD 4.3% S/A 16JAN2023 360,000 369,799 0.20% VANKE REAL ESTATE HONG KONG CO LTD 3.5% S/A 12NOV2029 2,000,000 2,071,128 1.10% YANGO JUSTICE INTL LTD 7.5% S/A 16NOV2020 900,000 910,904 0.48% YANGO JUSTICE INTL LTD 9.5% S/A 03APR2021 500,000 519,486 0.28% YANLORD LAND HK CO LTD 6.8% S/A 27FEB2024 600,000 608,275 0.32% 15,413,060 8.20%

– 218 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBIT SECURITIES (CONTINUED)

India ADANI ELECTRICITY MUMBAI LTD 3.949% S/A 12FEB2030 REGS 690,000 657,430 0.35% ADANI PORTS & SPECIAL ECONOMIC ZONE LTD 4.375% S/A 03JUL2029 REGS 600,000 603,343 0.32% ADANI TRANSMISSION LTD 4.25% S/A 21MAY2036 REGS 500,000 482,357 0.26% EXPORT-IMPORT BANK OF INDIA 3.25% S/A 15JAN2030 REGS 500,000 502,608 0.27% REC LTD 4.75% S/A 19MAY2023 REGS 500,000 518,656 0.27% 2,764,394 1.47%

Indonesia INDONESIA ASAHAN ALUMINIUM PERSERO 4.75% S/A 15MAY2025 REGS 350,000 377,408 0.20% INDONESIA ASAHAN ALUMINIUM PERSERO 5.45% S/A 15MAY2030 REGS 350,000 392,862 0.21% PERTAMINA PERSERO 4.7% S/A 30JUL2049 REGS 500,000 550,352 0.30% PERUSAHAAN LISTRIK NEGARA 3.375% S/A 05FEB2030 REGS 200,000 208,297 0.11% BANK TABUNGAN NEGARA PERSERO TBK 4.2% S/A 23JAN2025 310,000 303,193 0.16% 1,832,112 0.98%

Japan NIPPON LIFE INSURANCE CO 3.4% S/A 23JAN2050 REGS 500,000 521,366 0.28%

Korea MIRAE ASSET DAEWOO CO LTD 3.125% S/A 07MAY2022 700,000 717,484 0.37% MIRAE ASSET DAEWOO CO LTD 3.375% S/A 07MAY2024 600,000 620,978 0.33% WOORI BANK 4.25% S/A PERP REGS 500,000 504,580 0.27% 1,843,042 0.97%

– 219 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBIT SECURITIES (CONTINUED)

Luxembourg SPIC LUXEMBOURG LATIN AMERICA RENEWABLE ENERGY INVESTMENT CO SARL 4.65% S/A 30OCT2023 1,000,000 1,079,499 0.57%

Macau INDUSTRIAL & COMMERCIAL BANK OF CHINA MACAU LTD 2.875% S/A 12SEP2029 500,000 514,437 0.27%

Netherlands ING GROEP NV 4.875% S/A PERP 1,000,000 949,094 0.51% ING GROEP NV 5.75% S/A PERP 1,000,000 1,005,648 0.53% 1,954,742 1.04%

Philippines INTL CONTAINER TERMINAL SERVICES INC 4.75% S/A 17JUN2030 340,000 346,595 0.18% PLDT INC 2.5% S/A 23JAN2031 230,000 233,771 0.12% RIZAL COMMERCIAL BANKING CORP 3% S/A 11SEP2024 600,000 604,552 0.32% SMC GLOBAL POWER HLDGS CORP 6.5% S/A PERP 1,000,000 1,001,267 0.54% 2,186,185 1.16%

Singapore BOC AVIATION LTD 2.75% S/A 02DEC2023 1,750,000 1,768,892 0.94% BOC AVIATION LTD 3.25% S/A 29APR2025 REGS 2,000,000 2,060,214 1.10% SINGTEL GROUP TREASURY PTE LTD 2.375% S/A 28AUG2029 500,000 527,372 0.28% 4,356,478 2.32%

Spain BANCO BILBAO VIZCAYA ARGENTARIA SA 6.5% Q PERP 200,000 194,891 0.10%

Sri Lanka SRI LANKA GOVERNMENT INTL BOND 6.35% S/A 28JUN2024 REGS 500,000 351,615 0.19%

– 220 – BOCHK WEALTH CREATION SERIES BOCHK ALL WEATHER GREATER BAY AREA STRATEGY FUND

INVESTMENT PORTFOLIO (UNAUDITED) (CONTINUED) 30 JUNE 2020

Holding/ Fair value %ofnet Listed/Quoted Investments (Continued) nominal value USD Assets

DEBIT SECURITIES (CONTINUED)

Sweden SKANDINAVISKA ENSKILDA BANKEN AB 5.125% S/A PERP 600,000 588,554 0.31%

Thailand EXPORT-IMPORT BANK OF THAILAND 3M L+0.85% Q 23MAY2024 640,000 629,792 0.34% PTTEP TREASURY CENTER CO LTD 2.587% S/A 10JUN2027 REGS 690,000 707,491 0.37% TMB BANK PCL/CAYMAN ISLANDS 4.9% S/A PERP 1,200,000 1,125,729 0.60% 2,463,012 1.31%

United Kingdom PHOENIX GROUP HLDGS PLC 5.625% S/A PERP 310,000 304,400 0.16%

United States CNOOC FINANCE 2015 USA LLC 4.375% S/A 02MAY2028 1,000,000 1,172,530 0.62% 182,433,214 97.09%

FOREIGN CURRENCY FORWARD CONTRACTS Buy RMB112,889,994.42 and Sell USD15,930,738.81 – 12,292 0.01% 12,292 0.01%

TOTAL LISTED/QUOTED INVESTMENTS 184,320,363 98.10%

OTHER NET ASSETS 3,571,471 1.90%

NET ASSETS AS AT 30 JUNE 2020 (AT TRADING VALUE) 187,891,834 100.00%

TOTAL INVESTMENTS, AT COST 179,938,397

Note: Investments are accounted for on a trade-date basis.

– 221 – BOCHK WEALTH CREATION SERIES

STATEMENTS OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) FOR THE YEAR ENDED 30 JUNE 2020

BOCHK All Weather BOCHK All Weather BOCHK All Weather BOCHK All Weather Global Opportunities China High Yield Hong Kong BOCHK All Weather BOCHK All Weather Asia (ex-Japan) Fund Bond Fund Equity Fund CNY Equity Fund Asian Bond Fund Equity Fund 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 %%%%%%%%%%%%

Listed/Quoted Investments

Equity securities Australia –––––––––––– British Virgin Islands –––––––––––– Cayman –––––––––––– China ––––––98.33 98.51–––– France –––––––––––– Hong Kong 4.32 4.29 – – 92.01 74.74––––40.12 48.56 India –––––––––––– Indonesia –––––––––––– Korea ––––––––––20.95 15.66 Luxembourg –––––––––––– Malaysia –––––––––––– Mongolia –––––––––––– Netherlands –––––––––––– New Zealand –––––––––––– Philippines –––––––––––– Singapore ––––––––––2.79 3.29 Sri Lanka –––––––––––– Spain –––––––––––– Thailand –––––––––––– United Kingdom –––––––––––– United States –––––3.61––––––

Debt securities Australia 3.22 – 0.51 0.56––––2.12 2.59 – – Bahrain –––––––––––– Bermuda – – 0.88–––––1.04 0.4 – – British Virgin Islands 11.32 13.14 17.47 16.82––––17.74 16.54 – – Canada ––––––––0.10.33 – – Cayman Islands 16.54 18.56 70.12 61.68––––35.85 27.93 – – China – – – 0.36––––2.91 4.55 – – Egypt –––––––––––– France 5.2–––––––0.91 2.56 – – Germany –––––––––––– Hong Kong – 6.46 3.74 7.13––––6.57 6.22 – – India 2.7 3.16 0.95 0.38––––3.39 1.95 – – Indonesia 2.72 6.43 0.44 0.65––––68.83 – – Isle of Man ––––––––0.18 0.6 – – Japan – – – 0.36––––1.74 0.39 – – Jersey, C.I. –––––––––––– Jordan –––––––––––– Korea – – – 0.37––––1.22 2.33 – – Macau ––––––––0.3––– Malaysia – – 0.24 0.48––––0.81 2.07 – – Mauritius – – 0.61–––––0.27––– Mexico –––––––––––– Mongolia – – – 0.78––––0.12 0.44 – – Netherlands 2.7 – – 0.69––––1.56 1.6 – – Nigeria –––––––––––– Oman ––––––––0.110.36 – –

– 222 – BOCHK WEALTH CREATION SERIES

STATEMENTS OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020

Listed/Quoted Investments (Continued)

Debt securities (Continued) Pakistan –––––––––––– Philippines – – 0.10–––––1.94 2.79 – – Portugal –––––––––––– Singapore – – 3.24 4.94––––3.86 3.03 – – Spain ––––––––0.34––– Sri Lanka – – 0.30 0.93––––0.68 3.19 – – Supra-National –––––––––––– Sweden 2.63–––––––0.34––– Switzerland –––––––––––– Thailand ––––––––1.62––– Turkey –––––––––––– United Arab Emirates ––––––––0.30.91 – – United Kingdom 5.43 – – 0.97––––1.23 2.43 – – United States ––––––––1.07 1.45 – – Vietnam ––––––––0.13 1.02 – – Zambia ––––––––––––

Collective investment schemes Australia ––––––––0.69––– China –––––––––––– Hong Kong 14.23 20.50 – – 5.18 5.26 – – 1.76 – 2.26 – Japan –––––––––––– Luxembourg – – 0.53 0.41–––––––– Singapore ––––––––––0.94 1.17 United Kingdom –––––––––––– United States 17.42 18.37––––––––12.76 15.96

Depository receipts India –––––––––––– Taiwan ––––––––––5.01 4.56 United Kingdom ––––––––––1.07 0.95 United States 1.74 1.58–––4.43––––10.35 8.52

Perpetual Bond France – 3.31––––––––––

Foreign currency forward contracts – – 0.07 0.29 0.07 0.01 -0.01 -0.01 0.01 0.03 0.01 0.05 Total listed/quoted investments 90.17 95.8 99.2 97.8 97.26 88.05 98.32 98.5 96.91 94.54 96.26 98.72 Other net assets 9.83 4.2 0.80 2.20 2.74 11.95 1.68 1.5 3.09 5.46 3.74 1.28 Net assets as at 30 June 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100 100.00

– 223 – BOCHK WEALTH CREATION SERIES

STATEMENTS OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020

BOCHK All BOCHK All Weather BOCHK All Weather BOCHK All Weather Weather Greater BOCHK All Weather Asia Pacific High Short Term Bond Belt and Road Bond Bay Area China Income Fund Income Fund Fund Fund Strategy Fund 2020 2019 2020 2019 2020 2019 2020 2019 2020 %%%%%%%% %

Listed/Quoted Investments

Equity securities Australia – – 6.98 6.25–––– – British Virgin Islands –––––––29.20 – Cayman –––––––30.64 – China 0.88 – 5.28 1.18 – – 2.20 5.43 – France –––––––1.38 – Hong Kong 39.15 48.98 21.60 25.67 – – 2.25 5.67 – India –––––––4.90 – Indonesia – – – 0.17–––10.27 – Korea – – – 0.80–––– – Luxembourg –––––––1.63 – Malaysia –––––––0.78 – Mongolia –––––––0.78 – Netherlands –––––––0.94 – New Zealand – – – 2.11–––– – Philippines –––––––1.14 – Singapore – – 4.76 5.69–––– – Sri Lanka –––––––4.07 – Spain –––––––– – Thailand – – – 3.90–––– – United Kingdom –––––––1.07 – United States – – 1.08 1.26 – – 0.72 – –

Debt securities Australia –––––––– 1.28 Bahrain –––––––– – Bermuda ––––0.47––– 1.65 British Virgin Islands 21.18 14.14 6.86 1.48 36.43 9.81 27.34 – 22.55 Canada 0.29 0.18–––––– – Cayman Islands 14.3 14.55 23.44 23.47 4.03 9.14 30.68 – 42.62 China 1.21 7.46 – – 6.43 27.45 2.75 – 8.17 Egypt –––––––– – France 1.09 0.80 1.44–––0.79 – 0.56 Germany –––––––– 0.31 Hong Kong 2.75 4.88 1.66 1.18 12.00 11.82 4.08 – 8.20 India 1.17 1.53 1.55–––3.45 – 1.47 Indonesia 1.19 – 2.43–––7.59 – 0.98 Isle of Man –––––––– – Japan 1.26–––––0.91 – 0.28 Jersey, C.I. –––––––– – Jordan –––––––– – Korea ––––0.30––– 0.97 Luxembourg –––––––– 0.57 Macau –––––––– 0.27 Malaysia 1.14 0.75 1.29 1.18 – – 0.70 – – Mauritius –––––––– – Mexico –––––––– – Mongolia – – – 1.18–––– – Netherlands 1.15 – 1.52 1.43 – – 0.83 – 1.04

– 224 – BOCHK WEALTH CREATION SERIES

STATEMENTS OF MOVEMENTS IN PORTFOLIO HOLDINGS (UNAUDITED) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2020

Listed/Quoted Investments (Continued)

Debt securities (Continued) Nigeria –––––––– – Oman –––––––– – Pakistan –––––––– – Philippines ––––––0.89 – 1.16 Portugal –––––––– – Singapore 2.14 – 3.43 5.55 – – 3.30 – 2.32 Spain –––––––– 0.10 Sri Lanka ––––––1.23 – 0.19 Supra-National –––––––– – Sweden –––––––– 0.31 Switzerland –––––––– – Thailand ––––––0.90 – 1.31 Turkey –––––––– – United Arab Emirates –––––––– – United Kingdom – – 1.57–––1.37 – 0.16 United States – 0.83–––––– 0.62 Vietnam –––––––– – Zambia –––––––– –

Collective investment schemes Australia 1.79–––3.1–1.30 – – China –––––––– – Hong Kong 4.63 5.49 – 1.60 – – 2.77 2.38 1.00 Japan –––––––– – Luxembourg –––––––– – Singapore – – 3.53 0.58–––– – United Kingdom –––––––– – United States – – 3.39 3.67–––– –

Depository receipts India –––––––– – Taiwan – – 1.36 3.57–––– – United Kingdom – – 2.08 1.29–––– – United States –––––––– –

Perpetual Bond France –––––––– –

Foreign currency forward contracts – 0.06 0.01 0.06 -0.22 -0.07 0.01 0.06 0.01

Total listed/quoted investments 95.32 99.65 95.26 93.27 56.54 58.15 96.06 100.34 98.10 Other net assets 4.68 0.35 4.74 6.73 43.46 41.85 3.94 (0.34) 1.90 Net assets as at 30 June 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

– 225 – BOCHK WEALTH CREATION SERIES

PERFORMANCE TABLE (UNAUDITED) NET ASSET VALUES

Financial Net asset value of the Sub-Fund Sub-Fund year/period ended Class A1 Class A2 Class A3 Class A4 Class A7 Class A8 Class A9

BOCHK All Weather Global 30.6.2020 USD1,423,661 HKD26,680,657 AUD14,7702 2 N/A 2 2 N/A N/A N/A Opportunities Fund (Note 1) 30.6.2019 USD1,392,896 HKD20,065,591 AUD22,2152 N/A N/A2 N/A2 N/A2 30.6.2018 USD1,437,995 HKD21,380,774 AUD18,1912 N/A N/A2 N/A2 N/A2

BOCHK All Weather China 30.6.2020 RMB516,358,454 USD10,412,769 HKD325,497,232 AUD3,628,9732 USD30,319,880 N/A 2 N/A High Yield Bond Fund 30.6.2019 RMB749,491,449 USD27,281,406 HKD411,980,793 AUD3,075,6182 USD20,180,277 N/A 2 N/A (Note 2) 30.6.2018 RMB1,186,745,178 USD33,659,558 HKD482,816,706 AUD3,277,9582 USD5,416,959 N/A 2 N/A

BOCHK All Weather Hong 30.6.2020 HKD114,365,311 USD3,089,116 AUD403,8472 RMB1,485,686 N/A 2 N/A N/A2 Kong Equity Fund (Note 3) 30.6.2019 HKD135,034,601 USD3,753,605 AUD407,7742 RMB1,799,054 N/A 2 N/A N/A2 2 – 226 – 30.6.2018 HKD153,819,354 USD7,240,775 AUD440,1562 RMB2,315,231 N/A 2 N/A N/A2

BOCHK All Weather CNY 30.6.2020 RMB32,282,907 USD10,366,902 HKD161,637,3392 N/A2 N/A N/A2 HKD15,143,730 Equity30.6.2019 Fund (Note 4) RMB45,363,988 USD11,102,966 HKD160,208,274 N/A 2 N/A2 N/A2 HKD3,930,736 30.6.2018 RMB51,502,492 USD13,716,234 HKD175,985,582 N/A 2 N/A2 N/A2 HKD2,793,570

BOCHK All Weather Asian 30.6.2020 USD60,555,558 HKD411,870,824 N/A 2 2 2 2 N/A RMB128,285,425 N/A N/A Bond Fund (Note 5) 30.6.2019 USD10,146,107 HKD145,019,6512 N/AN/A2 RMB32,415,6952 N/A N/A2 30.6.2018 USD12,962,307 HKD103,885,6062 N/AN/A2 RMB28,218,3422 N/A N/A2

BOCHK All Weather Asia 30.6.2020 USD366,039 HKD9,633,9852 N/A2 N/ARMB2,014,6752 N/A N/A2 (ex-Japan) Equity Fund 30.6.2019 USD312,536 HKD8,091,9322 N/AN/A2 RMB2,142,6272 N/A N/A2 (Note 6) 30.6.20181 USD560,934 HKD14,434,8862 N/A N/A2 RMB3,090,2692 N/A N/A2

BOCHK All Weather China 30.6.2020 HKD86,042,096 USD2,521,4612 N/A2 N/A N/A2 RMB20,301,3112 N/A Income Fund (Note 7) 30.6.2019 HKD110,184,519 USD6,902,0702 N/AN/A2 N/A2 RMB37,887,6352 N/A 30.6.20181 HKD142,342,208 USD8,096,1142 N/A N/A2 N/A2 RMB42,620,9792 N/A

BOCHK All Weather Asia 30.6.2020 USD2,259,278 HKD59,649,8712 AUD967,947 N/A 2 N/ARMB13,174,9392 N/A Pacific High Income Fund 30.6.2019 USD3,939,946 HKD80,038,8452 AUD812,044 N/A 2 N/ARMB16,661,2422 N/A (Note 8) 30.6.20181 USD6,636,618 HKD131,142,5232 N/AAUD967,7492 N/ARMB24,999,6002 N/A BOCHK WEALTH CREATION SERIES

PERFORMANCE TABLE (UNAUDITED) (CONTINUED) NET ASSET VALUES (CONTINUED)

Financial Net asset value of the Sub-Fund Sub-Fund year/period ended Class A1 Class A2 Class A3 Class A4 Class A7 Class A8 Class A9

BOCHK All Weather Short Term 30.6.2020 USD60,396,889 HKD187,802,225 RMB855,7562 2 N/A 2 2 N/A N/A N/A Bond Fund (Note 9) 30.6.20191 USD33,819,070 HKD134,461,551 RMB535,9372 N/AN/A2 N/A2 N/A2

BOCHK All Weather Belt and 30.6.2020 USD8,332,069 HKD77,395,0522 N/A2 N/A N/A2 RMB31,905,2152 N/A Road Bond Fund (Note 10) 30.6.20191 USD7,398,875 HKD107,776,6112 N/A N/A2 N/A2 RMB34,452,1682 N/A

BOCHK All Weather Greater 1 30.6.2020USD31,011,089 HKD566,204,325 MOP306,539,191 RMB22,407,8722 N/A N/A2 N/A2 Bay Area Strategy Fund (Note 11)

2 – 227 – Note 1: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, AUD10.5 per unit for Class A3, RMB10.44 per unit for Class A7 and HKD10 per unit for Class X2. Note 2: Units were offered to investors for initial subscription at RMB10 per unit for Class A1, USD10 per unit for Class A2, HKD10 per unit for Class A3, AUD10.39 per unit for Class A4, USD9.63 per unit for Class A8, RMB10.19 per unit for Class X1, HKD9.58 per unit for Class X3, HKD9.83 per unit for Class I3, and USD9.64 per unit for Class I4. Note 3: Units were offered to investors for initial subscriptionat HKD10 per unit for Class A1, USD10 per unit for Class A2, AUD12.63 per unit for Class A3, RMB12.65 per unit for Class A7, HKD10 per unit for Class X1 and USD10.65 per unit for X2. Note 4: Units were offered to investors for initial subscription at RMB10 per unit for Class A1, USD10 per unit for Class A2, HKD10 per unit for Class A3 and HKD8 per unit for Class A9. Note 5: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, RMB10 per unit for Class A7, USD9.91 per unit for Class X1 and HKD10.01 per unit for Class I2. Note 6: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, RMB10 per unit for Class A7, HKD10 per unit for Class X1, HKD10 per unit for Class X2 and USD10.25 per unit for I1. Note 7: Units were offered to investors for initial subscription at HKD10 per unit for Class A1, USD10 per unit for Class A2 and RMB10 per unit for Class A8. Note 8: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, AUD10 per unit for Class A4 and RMB10 per unit for Class A8. Note 9: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, RMB10 per unit for Class A3, USD10.40 per unit for Class C1, USD10 per unit for Class X1, HKD10 per unit for Class X2, USD10 per unit for Class I1 and EUR10.4 per unit for Class I6. Note 10: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2 and RMB10 per unit for Class A8. Note:11: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD9.94 per unit for Class A2, MOP9.93 per unit for Class A3, RMB10 per unit for Class A4, RMB10 per unit for Class A11, USD9.78 per unit for Class X1 and USD10 per unit for Class I1.

1 Year of commencement of operation 2 These classes of units were not in issue as at reporting date. BOCHK WEALTH CREATION SERIES

PERFORMANCE TABLE (UNAUDITED) (CONTINUED) NET ASSET VALUES (CONTINUED)

Financial Net asset value of the Sub-Fund Sub-Fund year/period ended A11 Class C1 Class X1 Class X2 Class X3 Class I1 Class I2

BOCHK All Weather Global 30.6.20202 N/A 2 2 2 2 2 N/A N/A HKD19,915,413 N/A N/A N/A Opportunities Fund (Note 1) 30.6.20192 N/A N/A2 N/A2 HKD19,119,7442 N/A N/A2 N/A2 30.6.20182 N/A N/A2 N/A2 HKD18,490,2112 N/A N/A2 N/A2

BOCHK All Weather China 30.6.20202 N/AN/A2 RMB282,694,0342 N/A N/A2 N/A2 N/A2 High Yield Bond Fund 30.6.20192 N/A N/A2 RMB416,316,4512 N/A N/A2 N/A2 N/A2 (Note 2) 30.6.20182 N/A N/A2 RMB470,948,2632 N/A N/A2 N/A2 N/A2

BOCHK All Weather Hong 30.6.20202 N/AN/A2 HKD28,857,160 USD992,9452 N/A N/A2 USD4,153,447 Kong30.6.2019 Equity Fund (Note 3) N/A 2 N/A2 HKD38,259,7022 N/A N/A2 N/A2 USD4,139,598 2 – 228 – 30.6.2018 N/A 2 N/A2 HKD106,595,8322 N/A N/A2 N/A2 N/A2

BOCHK All Weather CNY 30.6.20202 N/AN/A2 N/A2 N/A2 N/A2 N/A2 N/A2 Equity Fund (Note 4) 30.6.20192 N/A N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.20182 N/A N/A2 N/A2 N/A2 N/A2 N/A2 N/A2

BOCHK All Weather Asian 30.6.20202 N/AN/A2 USD40,381,5932 N/A N/A2 N/A2 N/A2 Bond Fund (Note 5) 30.6.20192 N/A N/A2 USD18,906,9352 N/A N/A2 N/A2 N/A2 30.6.20182 N/A N/A2 USD14,445,3642 N/A N/A2 N/A2 N/A2

BOCHK All Weather Asia 30.6.20202 N/AN/A2 USD553,128 HKD25,744,0232 USD1,025,620 N/A 2 N/A (ex-Japan) Equity Fund 30.6.20192 N/A N/A2 USD534,235 HKD25,057,8892 N/A N/A2 N/A2 (Note 6) 30.6.20181 N/A2 N/A2 N/A2 HKD28,979,3862 N/A N/A2 N/A2

BOCHK All Weather China 30.6.20202 N/AN/A2 N/A2 N/A2 N/A2 N/A2 Income Fund (Note 7) 30.6.20192 N/A N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.20181 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2

BOCHK All Weather Asia 30.6.20202 N/AN/A2 N/A2 N/A2 N/A2 N/A2 N/A2 Pacific High Income Fund 30.6.20192 N/A N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 (Note 8) 30.6.20181 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 BOCHK WEALTH CREATION SERIES

PERFORMANCE TABLE (UNAUDITED) (CONTINUED) NET ASSET VALUES (CONTINUED)

Financial Net asset value of the Sub-Fund Sub-Fund year/period ended A11 Class C1 Class X1 Class X2 Class X3 Class I1 Class I2

BOCHK All Weather Short Term 30.6.20202 N/A 2 2 USD10,249,420 USD4,257,540 HKD52,742,660USD59,549,616 N/A N/A Bond Fund (Note 9) 30.6.20191 N/A2 N/A2 USD10,775,752 HKD103,576,6742 USD32,810,068 N/A 2 N/A

BOCHK All Weather Belt and 30.6.20202 N/AN/A2 N/A2 N/A2 N/A2 N/A2 N/A2 Road Bond Fund (Note 10) 30.6.20191 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2

BOCHK All Weather Greater 1 30.6.2020CNY116,397,1802 N/AUSD20,539,2712 N/A N/A2 USD5,250,8292 N/A Bay Area Strategy Fund (Note 11) 2 – 229 – Note 1: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, AUD10.5 per unit for Class A3, RMB10.44 per unit for Class A7 and HKD10 per unit for Class X2. Note 2: Units were offered to investors for initial subscription at RMB10 per unit for Class A1, USD10 per unit for Class A2, HKD10 per unit for Class A3, AUD10.39 per unit for Class A4, USD9.63 per unit for Class A8, RMB10.19 per unit for Class X1, HKD9.58 per unit for Class X3, HKD9.83 per unit for Class I3, and USD9.64 per unit for Class I4. Note 3: Units were offered to investors for initial subscriptionat HKD10 per unit for Class A1, USD10 per unit for Class A2, AUD12.63 per unit for Class A3, RMB12.65 per unit for Class A7, HKD10 per unit for Class X1 and USD10.65 per unit for X2. Note 4: Units were offered to investors for initial subscription at RMB10 per unit for Class A1, USD10 per unit for Class A2, HKD10 per unit for Class A3 and HKD8 per unit for Class A9. Note 5: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, RMB10 per unit for Class A7, USD9.91 per unit for Class X1 and HKD10.01 per unit for Class I2. Note 6: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, RMB10 per unit for Class A7, HKD10 per unit for Class X1, HKD10 per unit for Class X2 and USD10.25 per unit for I1. Note 7: Units were offered to investors for initial subscription at HKD10 per unit for Class A1, USD10 per unit for Class A2 and RMB10 per unit for Class A8. Note 8: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, AUD10 per unit for Class A4 and RMB10 per unit for Class A8. Note 9: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, RMB10 per unit for Class A3, USD10.40 per unit for Class C1, USD10 per unit for Class X1,HKD10 per unit for Class X2, USD10 per unit for Class I1 and EUR10.4 per unit for Class I6. Note 10: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2 and RMB10 per unit for Class A8. Note:11: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD9.94 per unit for Class A2, MOP9.93 per unit for Class A3, RMB10 per unit for Class A4, RMB10 per unit for Class A11, USD9.78 per unit for Class X1 and USD10 per unit for Class I1.

1 Year of commencement of operation 2 These classes of units were not in issue as at reporting date. BOCHK WEALTH CREATION SERIES

PERFORMANCE TABLE (UNAUDITED) (CONTINUED) NET ASSET VALUES (CONTINUED)

Financial Net asset value of the Sub-Fund Sub-Fund year/period ended Class I4 Class I6

BOCHK All Weather Global 30.6.2020 N/A2 N/A2 Opportunities Fund (Note 1) 30.6.2019 N/A2 N/A2 30.6.2018 N/A2 N/A2

BOCHK All Weather China 30.6.2020 N/A2 N/A2 High Yield Bond Fund (Note 2) 30.6.2019 N/A2 N/A2 30.6.2018 USD2,378,040 N/A2

BOCHK All Weather Hong Kong 30.6.2020 N/A2 N/A2 Equity Fund (Note 3) 30.6.2019 N/A2 N/A2 30.6.2018 N/A2 N/A2

BOCHK All Weather CNY 30.6.2020 N/A2 N/A2 Equity Fund (Note 4) 30.6.2019 N/A2 N/A2 30.6.2018 N/A2 N/A2

BOCHK All Weather Asian 30.6.2020 N/A2 N/A2 Bond Fund (Note 5) 30.6.2019 N/A2 N/A2 30.6.2018 N/A2 N/A2

BOCHK All Weather Asia 30.6.2020 N/A2 N/A2 (ex-Japan) Equity Fund (Note 6) 30.6.2019 N/A2 N/A2 30.6.20181 N/A2 N/A2

BOCHK All Weather China 30.6.2020 N/A2 N/A2 Income Fund (Note 7) 30.6.2019 N/A2 N/A2 30.6.20181 N/A2 N/A2

BOCHK All Weather Asia Pacific 30.6.2020 N/A2 N/A2 High Income Fund (Note 8) 30.6.2019 N/A2 N/A2 30.6.20181 N/A2 N/A2

BOCHK All Weather Short Term 30.6.2020 N/A2 EUR130,636,536 Bond Fund (Note 9) 30.6.20191 N/A2 N/A2

BOCHK All Weather Belt and 30.6.2020 N/A2 N/A2 Road Bond Fund (Note 10) 30.6.20191 N/A2 N/A2

BOCHK All Weather Greater Bay 30.6.20201 N/A2 N/A2 Area Strategy Fund (Note 11)

– 230 – BOCHK WEALTH CREATION SERIES

PERFORMANCE TABLE (UNAUDITED) (CONTINUED) NET ASSET VALUES (CONTINUED)

Note 1: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, AUD10.5 per unit for Class A3, RMB10.44 per unit for Class A7 and HKD10 per unit for Class X2.

Note 2: Units were offered to investors for initial subscription at RMB10 per unit for Class A1, USD10 per unit for Class A2, HKD10 per unit for Class A3, AUD10.39 per unit for Class A4, USD9.63 per unit for Class A8, RMB10.19 per unit for Class X1, HKD9.58 per unit for Class X3, HKD9.83 per unit for Class I3, and USD9.64 per unit for Class I4.

Note 3: Units were offered to investors for initial subscriptionat HKD10 per unit for Class A1, USD10 per unit for Class A2, AUD12.63 per unit for Class A3, RMB12.65 per unit for Class A7, HKD10 per unit for Class X1 and USD10.65 per unit for X2.

Note 4: Units were offered to investors for initial subscription at RMB10 per unit for Class A1, USD10 per unit for Class A2, HKD10 per unit for Class A3 and HKD8 per unit for Class A9.

Note 5: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, RMB10 per unit for Class A7, USD9.91 per unit for Class X1 and HKD10.01 per unit for Class I2.

Note 6: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, RMB10 per unit for Class A7, HKD10 per unit for Class X1, HKD10 per unit for Class X2 and USD10.25 per unit for I1.

Note 7: Units were offered to investors for initial subscription at HKD10 per unit for Class A1, USD10 per unit for Class A2 and RMB10 per unit for Class A8.

Note 8: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, AUD10 per unit for Class A4 and RMB10 per unit for Class A8.

Note 9: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2, RMB10 per unit for Class A3, USD10.40 per unit for Class C1, USD10 per unit for Class X1, HKD10 per unit for Class X2, USD10 per unit for Class I1 and EUR10.4 per unit for Class I6.

Note 10: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD10 per unit for Class A2 and RMB10 per unit for Class A8.

Note:11: Units were offered to investors for initial subscription at USD10 per unit for Class A1, HKD9.94 per unit for Class A2, MOP9.93 per unit for Class A3, RMB10 per unit for Class A4, RMB10 per unit for Class A11, USD9.78 per unit for Class X1 and USD10 per unit for Class I1.

1 Year of commencement of operation 2 These classes of units were not in issue as at reporting date.

– 231 – BOCHK WEALTH CREATION SERIES

PERFORMANCE RECORD (UNAUDITED)

Financial year/period Highest issue price per unit Lowest redemption price per unit Sub-Fund ended Class A1 Class A2 Class A3 Class A4 Class A7 Class A8 Class A9 Class A1 Class A2 Class A3 Class A4 Class A7 Class A8 Class A9

BOCHK All Weather Global 30.6.2020 USD11.22 HKD11.24 AUD16.12 N/A 2 2 2 2 2 2 2 2 Opportunities Fund N/A N/A N/A USD8.88 HKD8.88 AUD12.46N/A N/AN/A N/A 2 2 2 2 2 2 2 2 30.6.2019 USD10.38 HKD10.46 AUD15.10N/A N/A N/AN/A USD9.46 HKD9.55 AUD9.23N/A N/AN/A N/A 2 2 2 2 2 2 2 2 30.6.2018 USD10.99 HKD11.08 AUD10.68N/A N/A N/AN/A USD9.71 HKD9.79 AUD9.47N/A N/AN/A N/A 2 2 2 2 2 2 2 2 30.6.2017 USD9.80 HKD9.85 AUDN/A 9.58N/A N/AN/A USD8.98 HKD8.98 AUD8.85N/A N/AN/A N/A 2 2 2 2 2 2 30.6.2016 USD9.35 HKD9.35 AUDRMB9.61 9.71 N/A N/AN/A USD8.16 HKD8.21 AUD8.05RMB9.20 N/A N/AN/A 2 2 2 2 2 2 30.6.2015 USD10.66 HKD10.65 AUD10.58RMB10.44 N/A N/AN/A USD9.08 HKD9.08 AUD7.88RMB9.16 N/A N/AN/A 2 2 2 2 2 2 2 2 2 2 30.6.2014 USD10.67 HKD10.66N/A N/A N/A N/A USD9.66 HKD9.66N/A N/A N/A N/A N/A

2 2 2 2 3 – 232 – BOCHK All Weather China High 30.6.2020 RMB10.77 USD9.64USD9.98 HKD9.68 AUD10.37RMB8.74 N/A USD7.57 N/A HKD7.57 AUD8.27USD8.10 N/A N/A Yield Bond Fund 2 2 2 2 30.6.2019 RMB10.76 USD9.88 HKD10.00USD10.00 AUD10.48RMB10.07 N/A N/A USD8.96 HKD9.06 AUD9.88USD9.35 N/A N/A 2 2 2 2 30.6.2018 RMB10.83 USD10.54 HKD10.65USD10.08 AUD10.87RMB10.17 N/A N/A USD9.48 HKD9.58 AUD10.00USD9.46 N/A N/A 2 2 2 2 30.6.2017 RMB10.77 USD9.81 HKD9.86USD10.09 AUD10.96RMB10.28 N/A N/A USD9.22 HKD9.21 AUD10.62USD9.82 N/A N/A 2 2 2 2 30.6.2016 RMB10.41 USD9.88 HKD9.86USD9.91 AUD10.84RMB9.47 N/A N/A USD9.05 HKD9.03 AUD10.05USD9.58 N/A N/A 2 2 2 2 2 2 30.6.2015 RMB10.43 USD10.53 HKD10.52 AUD10.65N/A N/A RMB9.37 N/A USD9.32 HKD9.31 AUD9.83N/A N/A N/A 1 2 2 2 2 2 2 2 2 30.6.2014RMB10.38 USD10.62 HKD10.61N/A N/A N/A N/A RMB9.79 USD9.89 HKD9.89N/A N/A N/A

2 2 2 2 2 2 BOCHK All Weather Hong Kong 30.6.2020 HKD11.64 USD11.62RMB12.68 AUD12.25 N/AN/A HKD8.95 N/A USD8.94 AUD9.19RMB9.77 N/A N/AN/A Equity Fund 2 2 2 2 2 2 30.6.2019 HKD11.77 USD11.63 AUD12.62RMB12.93 N/A N/AN/A HKD9.56 USD9.47 AUD10.24RMB10.47 N/A N/AN/A 2 2 2 2 2 2 30.6.2018 HKD14.60 USD14.49 AUD15.70RMB16.18 N/A N/AN/A HKD10.13 USD10.06 AUD10.95RMB11.28 N/A N/AN/A 2 2 2 2 2 2 30.6.2017 HKD10.29 USD10.23 AUD11.12RMB11.45 N/A N/AN/A HKD8.39 USD8.39 AUD8.92RMB9.19 N/A N/AN/A 2 2 2 2 2 2 30.6.2016 HKD11.62 USD11.63 AUD12.22RMB12.31 N/A N/AN/A HKD7.00 USD6.97 AUD7.40RMB7.59 N/A N/AN/A 2 2 2 2 2 2 30.6.2015 HKD12.75 USD12.77 AUD13.26RMB13.36 N/A N/AN/A HKD11.00 USD10.99 AUD11.52RMB11.54 N/A N/AN/A 1 2 2 2 2 2 2 2 2 2 2 30.6.2014HKD12.40 USD12.41N/A N/A N/A N/A N/A HKD9.99 USD9.99N/A N/A N/A N/A N/A

2 2 2 2 2 2 BOCHK All Weather CNY 30.6.2020 RMB10.61 USD9.32N/A N/A HKD9.32HKD9.56 N/ARMB7.28 USD6.37 HKD6.44N/A N/A N/AHKD6.56 30.6.2019 RMB8.06 USD7.45 HKD7.55Equity Fund N/A 2 2 2 2 2 2 N/A N/A HKD7.27 RMB5.76 USD5.20 HKD5.26N/A N/A N/AHKD5.23 30.6.2018 RMB8.94 USD8.46 HKD8.54 N/A 2 2 2 2 2 2 N/A N/A HKD8.24 RMB6.99 USD6.54 HKD6.62N/A N/A N/AHKD6.47 30.6.2017 RMB9.54 USD8.57 HKD8.58 N/A 2 2 2 2 2 2 2 2 N/A N/A N/A RMB7.43 USD6.79 HKD6.83N/A N/A N/A 1 2 2 2 2 2 2 2 2 30.6.2016RMB10.63 USD10.62 HKD10.62N/A N/A N/A N/A RMB5.11 USD4.96 HKD4.96N/A N/A N/A BOCHK WEALTH CREATION SERIES

PERFORMANCE RECORD (UNAUDITED) (CONTINUED)

BOCHK All Weather Asian 30.6.2020 USD10.52 HKD10.57 N/A 2 2 2 2 2 2 2 2 Bond Fund N/A RMB10.96 N/AN/A USD9.12 HKD9.12N/A N/ARMB9.50 N/AN/A 2 2 2 2 2 2 2 2 30.6.2019 USD10.17 HKD10.25N/A RMB10.54 N/A N/AN/A USD9.44 HKD9.52N/A N/ARMB9.80 N/AN/A 2 2 2 2 2 2 2 2 30.6.2018 USD10.08 HKD10.15N/A RMB10.40 N/A N/AN/A USD9.51 HKD9.62N/A N/ARMB9.86 N/AN/A 1 2 2 2 2 2 2 2 2 30.6.2017USD10.01 HKD10.04N/A N/ARMB10.26 N/AN/A USD9.64 HKD9.64N/A N/ARMB9.64 N/AN/A

2 2 2 2 2 2 2 2 BOCHK All Weather Asia 30.6.2020 USD11.52N/A HKD11.51RMB11.62 N/A N/AN/A USD8.32 HKD8.29N/A N/ARMB8.36 N/AN/A (ex-Japan) Equity Fund 2 2 2 2 2 2 2 2 30.6.2019 USD11.32 HKD11.42N/A RMB11.51 N/A N/AN/A USD9.15 HKD9.21N/A N/ARMB9.29 N/AN/A 1 2 2 2 2 2 2 2 2 30.6.2018USD12.46 HKD12.52N/A N/ARMB12.60 N/AN/A USD9.96 HKD9.97N/A N/ARMB9.97 N/AN/A 3 – 233 –

2 2 2 2 2 2 2 2 BOCHK All Weather China 30.6.2020 HKD9.34N/A USD9.36N/A RMB9.50 N/A HKD7.40 N/A USD7.46N/A N/A N/A RMB7.51 N/A Income Fund 2 2 2 2 2 2 2 2 30.6.2019 HKD9.55 USD9.51N/A N/A RMB9.69HKD8.49 N/A USD8.45N/A N/A N/A RMB8.62 N/A 1 2 2 2 2 2 2 2 2 30.6.2018HKD10.87 USD10.87N/A N/A N/A RMB10.99HKD9.39 N/A USD9.35N/A N/A N/A RMB9.52 N/A

2 2 2 2 2 2 BOCHK All Weather Asia Pacific 30.6.2020 USD9.62AUD9.26 HKD9.52RMB9.60 N/A N/A USD7.27 N/A HKD7.18AUD6.89 N/A RMB7.25 N/A N/A High Income Fund 2 2 2 2 2 2 30.6.2019 USD9.63 HKD9.63AUD9.54 N/A RMB9.65 N/A USD8.60 N/A HKD8.58AUD8.51 N/A RMB8.63 N/A N/A 1 2 2 2 2 2 2 30.6.2018USD10.02 HKD10.03AUD10.00 N/A RMB10.02 N/A USD9.47 N/A HKD9.48AUD9.40 N/A RMB9.49 N/A N/A

2 2 2 2 2 2 2 2 BOCHK All Weather Short Term 30.6.2020 USD10.49 HKD10.40N/A N/A RMB10.87N/A USD10.25 N/A HKD10.18 RMB10.22N/A N/A N/A Bond Fund 1 2 2 2 2 2 2 2 2 30.6.2019USD10.24 HKD10.21 RMB10.20N/A N/A N/A USD10.00 HKD10.00 RMB9.80N/A N/A N/A

2 2 2 2 2 2 2 2 BOCHK All Weather Belt and Road 30.6.2020 USD10.64N/A HKD10.54N/A RMB10.67 N/A USD9.26 N/A HKD9.15N/A N/A N/A RMB9.29 N/A Bond Fund 1 2 2 2 2 2 2 2 2 30.6.2019USD10.28 HKD10.23N/A N/A N/A RMB10.28USD10.00 N/A HKD10.00N/A N/A N/A RMB10.00 N/A

1 2 2 2 2 2 2 BOCHK All Weather Greater Bay USD10.4730.6.2020 HKD10.39 MOP10.39 RMB10.97N/A N/A N/AUSD9.33 HKD9.22 MOP9.22 RMB9.86N/A N/A N/A Area Strategy Fund

1 Year of commencement of operation 2 These classes of units were not in issue as at reporting date. BOCHK WEALTH CREATION SERIES

PERFORMANCE RECORD (UNAUDITED) (CONTINUED)

Financial year/period Highest issue price per unit Lowest redemption price per unit Sub-Fund ended Class A11 Class C1 Class X1 Class X2 Class X3 Class I1 Class I2 Class A11 Class C1 Class X1 Class X2 Class X3 Class I1 Class I2

BOCHK All Weather Global 30.6.2020 N/A 2 2 2 2 2 2 2 2 2 2 2 2 Opportunities Fund N/A N/A HKD12.25 N/AN/A N/A N/A N/A N/A HKD9.69 N/AN/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2019 N/AN/A N/A HKD11.31 N/AN/A N/A N/A N/A N/A HKD10.27 N/AN/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2018 N/AN/A N/A HKD11.78 N/AN/A N/A N/A N/A N/A HKD10.37 N/AN/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2017 N/AN/A N/A HKD10.43 N/AN/A N/A N/A N/A N/A HKD9.97 N/AN/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2016 N/AN/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2015 N/AN/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2014 N/AN/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

2 2 2 2 2 2 2 2 2 2 2 2 3 – 234 – BOCHK All Weather China High 30.6.2020N/A RMB13.99 N/A N/AN/A N/A N/A N/A N/A RMB11.36 N/AN/A N/A N/A Yield Bond Fund 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2019 N/AN/A RMB13.33 N/AN/A N/A N/A N/A N/A RMB11.85 N/AN/A N/A N/A 2 2 2 2 2 2 2 2 30.6.2018 N/AN/A RMB12.25HKD11.22 N/A USD10.85 N/A N/AN/A RMB11.64HKD9.79 N/A USD9.70 N/A 30.6.2017 N/A 2 2 2 2 2 2 2 2 2 2 N/A RMB11.76HKD9.88 N/A N/AN/A N/A N/A RMB10.68HKD9.56 N/A N/AN/A 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2016 N/AN/A RMB10.67 N/AN/A N/A N/A N/A N/A RMB10.19 N/AN/A N/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2015 N/AN/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2014 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

2 2 2 2 2 2 2 2 BOCHK All Weather Hong Kong 30.6.2020N/A HKD10.69 N/A USD11.65N/A N/AUSD11.63 N/AN/A HKD8.24 USD8.98N/A N/AUSD8.95 30.6.2019 N/A Equity Fund 2 2 2 2 2 2 2 2 2 2 N/A HKD10.61 N/AN/A N/A USD10.51 N/AN/A HKD8.66 N/AN/A N/A USD10.13 30.6.2018 N/A 2 2 2 2 2 2 2 2 2 2 2 2 N/A HKD13.09 N/AN/A N/A N/A N/A N/A HKD9.01 N/AN/A N/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2017 N/AN/A HKD9.16 N/AN/A N/A N/A N/A N/A HKD7.38 N/AN/A N/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2016 N/AN/A HKD10.09 N/AN/A N/A N/A N/A N/A HKD6.12 N/AN/A N/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2015 N/AN/A HKD10.96 N/AN/A N/A N/A N/A N/A HKD9.52 N/AN/A N/A N/A 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2014 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

2 2 2 2 2 2 2 2 2 2 2 2 2 2 BOCHK All Weather CNY 30.6.2020N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Equity Fund 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2019 N/AN/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2018 N/AN/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2017 N/AN/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2016 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A BOCHK WEALTH CREATION SERIES

PERFORMANCE RECORD (UNAUDITED) (CONTINUED)

BOCHK All Weather Asian 30.6.2020 N/A 2 2 2 2 2 2 2 2 2 2 2 2 Bond Fund N/A USD11.70 N/AN/A N/A N/A N/A N/A USD10.17 N/AN/A N/A N/A 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2019 N/AN/A USD10.94 N/AN/A N/A N/A N/A N/A USD9.75 N/AN/A N/A N/A 2 2 2 2 2 2 2 2 30.6.2018 N/AN/A USD10.11 HKD10.25N/A N/AHKD10.32 N/AN/A USD9.75 HKD10.11N/A N/AHKD9.99 30.6.2017 1 2 2 2 2 2 2 2 2 N/A N/A USD9.91 HKD10.00N/A N/AHKD10.04 N/AN/A USD9.91 HKD9.87N/A N/AHKD10.00

BOCHK All Weather Asia 30.6.2020 N/A 2 2 2 2 2 2 2 2 (ex-Japan) Equity Fund N/A USD12.08 HKD11.99USD11.54 N/A N/AN/A N/A USD8.74 HKD8.66USD8.33 N/A N/A 2 2 2 2 2 2 2 2 2 2 30.6.2019 N/AN/A USD10.76 HKD11.64N/A N/A N/A N/A N/A USD9.97 HKD9.45N/A N/A N/A 1 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2018 N/A N/A N/A HKD12.67 N/AN/A N/A N/A N/A N/A HKD9.97 N/AN/A N/A 3 – 235 –

2 2 2 2 2 2 2 2 2 2 2 2 2 2 BOCHK All Weather China 30.6.2020N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Income Fund 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2019 N/AN/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2018 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

2 2 2 2 2 2 2 2 2 2 2 2 2 2 BOCHK All Weather Asia Pacific 30.6.2020N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A High Income Fund 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2019 N/AN/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2018 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

2 2 2 2 2 2 BOCHK All Weather Short Term 30.6.2020USD10.49 USD10.52 N/A HKD10.45USD10.52 N/A N/AN/A USD10.37 USD10.26 HKD10.21USD10.27 N/A N/A Bond Fund 1 2 2 2 2 2 2 2 2 30.6.2019 N/A N/A USD10.25 HKD10.24USD10.27 N/A N/AN/A N/A USD10.00 HKD9.96USD10.00 N/A N/A

2 2 2 2 2 2 2 2 2 2 2 2 2 2 BOCHK All Weather Belt and Road 30.6.2020N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Bond Fund 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 30.6.2019 N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A

1 2 2 2 2 2 2 2 2 BOCHK All Weather Greater Bay RMB10.5230.6.2020 USD10.13 N/A N/AN/A USD10.79RMB9.34 N/A USD9.78 N/A N/AN/A USD9.61 N/A Area Strategy Fund

1 Year of commencement of operation 2 These classes of units were not in issue as at reporting date. BOCHK WEALTH CREATION SERIES

PERFORMANCE RECORD (UNAUDITED) (CONTINUED)

Financial year/period Highest issue price per unit Lowest redemption price per unit Sub-Fund ended Class I3 Class I4 Class I6 Class I3 Class I4 Class I6

BOCHK All Weather Global 30.6.2020 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 Opportunities Fund 30.6.2019 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2018 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2017 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2016 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2015 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2014 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2

2 2 2 2 2 2 3 – 236 – BOCHK All Weather China 30.6.2020 N/A N/A N/A N/A N/A N/A High Yield Bond Fund 30.6.2019 N/A2 USD10.49 N/A2 N/A2 USD10.02 N/A2 30.6.2018 HKD10.69 USD10.46 N/A2 HKD9.64 USD9.55 N/A2 30.6.2017 HKD9.86 USD9.65 N/A2 HKD9.66 USD9.55 N/A2 30.6.2016 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2015 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.20141 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2

BOCHK All Weather Hong Kong 30.6.2020 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 Equity Fund 30.6.2019 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2018 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2017 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2016 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2015 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.20141 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2

BOCHK All Weather CNY Equity Fund 30.6.2020 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2019 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2018 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2017 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.20161 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 BOCHK WEALTH CREATION SERIES

PERFORMANCE RECORD (UNAUDITED) (CONTINUED)

Financial year/period Highest issue price per unit Lowest redemption price per unit Sub-Fund ended Class I3 Class I4 Class I6 Class I3 Class I4 Class I6

BOCHK All Weather Asian Bond Fund 30.6.2020 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2019 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.2018 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.20171 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2

BOCHK All Weather Asia (ex-Japan) 30.6.2020 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 Equity Fund 30.6.2019 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.20181 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 3 – 237 – BOCHK All Weather China 30.6.2020 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 Income Fund 30.6.2019 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.20181 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2

BOCHK All Weather Asia Pacific High 30.6.2020 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 Income Fund 30.6.2019 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 30.6.20181 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2

BOCHK All Weather Short Term Bond 30.6.2020 N/A2 N/A2 EUR10.46 N/A2 N/A2 EUR10.40 Fund 30.6.20191 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2

BOCHK All Weather Belt and Road 30.6.2020 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 Bond Fund 30.6.20191 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2

BOCHK All Weather Greater Bay Area 30.6.20201 N/A2 N/A2 N/A2 N/A2 N/A2 N/A2 Strategy Fund

Year of commencement1 of operation 2 These classes of units were not in issue as at reporting date. BOCHK WEALTH CREATION SERIES

INFORMATION ON EXPOSURE ARISING FROM FINANCIAL DERIVATIVE INSTRUMENTS (UNAUDITED)

Financial year/period Sub-Fund ended Gross exposure Net exposure Highest Lowest Average Highest Lowest Average exposure exposure

BOCHK All Weather Global 30.6.2020 0.07% -0.03% 0.01% 0.11% 0.00% 0.02% Opportunities Fund

BOCHK All Weather China 30.6.2020 1.59% -4.10% -0.03% 4.84% 0.03% 0.94% High Yield Bond Fund

BOCHK All Weather Hong 30.6.2020 0.08% -0.19% -0.02% 0.19% 0.00% 0.04% Kong Equity Fund

BOCHK All Weather CNY 30.6.2020 0.08% -0.04% 0.01% 0.08% 0.00% 0.03% Equity Fund

BOCHK All Weather Asian 30.6.2020 0.22% -0.39% 0.01% 0.41% 0.00% 0.09% Bond Fund

BOCHK All Weather Asia 30.6.2020 0.07% -0.24% -0.05% 0.24% 0.00% 0.07% (ex-Japan) Equity Fund

BOCHK All Weather China 30.6.2020 0.32% -0.73% -0.01% 0.89% 0.00% 0.16% Income Fund

BOCHK All Weather Asia 30.6.2020 0.50% -0.97% 0.00% 0.97% 0.00% 0.18% Pacific High Income Fund

BOCHK All Weather Short 30.6.2020 1.57% -0.90% 0.00% 1.65% 0.00% 0.27% Term Bond Fund

BOCHK All Weather Belt and 30.6.2020 0.46% -0.75% 0.01% 0.75% 0.00% 0.15% Road Bond Fund

BOCHK All Weather Greater 30.6.20201 0.18% -0.27% -0.01% 0.27% 0.00% 0.06% Bay Area Strategy Fund1

1 Year of commencement of operation

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