September 2020 "Hang Seng Investment Series" HANG SENG CHINA 50 INDEX FUND IMPORTANT RISK WARNINGS / FUND INFORMATION FOR INVESTORS ● Hang Seng China 50 Index Fund (the "Fund") invests primarily in the constituent stocks of the Hang Seng China 50 Index (the "Index"). The coverage of the Index includes mainland China-listed A- shares and B-shares, Hong Kong-listed H-shares, red chip shares and shares of other Hong Kong-listed Mainland companies. ● The Net Asset Value of the Fund may be affected unfavourably by fluctuations in the exchange rates between the currencies of the Fund’s underlying investments and the Fund’s base currency and by changes in exchange rate controls. ● The Fund’s investment in equity securities is subject to general market risks, whose value may fluctuate. ● The Fund is subject to passive investment risk and tracking error risk. There can be no assurance of exact or identical replication at any time of the performance of the Index. ● The Fund is subject to concentration risk. The value of the Fund may be more volatile than that of a fund having a more diverse portfolio of investments, and may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting mainland China. ● Investing in an emerging market (such as mainland China) may involve increased risks and special considerations not typically associated with investment in more developed markets. The Fund is subject to the risk associated with high volatility and regulatory/exchanges requirements/policies of the equity market in an emerging market. ● The Fund is subject to the risks associated with investment made through a QFII and Stock Connects. The laws, rules and regulations applicable to them are subject to change and such change may have potential retrospective effect. ● RMB is currently not freely convertible and is subject to exchange controls and restrictions. Non RMB-based investors are exposed to foreign exchange risks. ● Investment involves risks and investors may lose substantial part of their investment in the Fund. Investors should not only base on this material alone to make investment decisions, but should read the Fund’s offering documents (including the full text of the risk factors stated therein) in detail.

INVESTMENT OBJECTIVE PERFORMANCE IN HK DOLLAR *#

The investment objective of the Fund is to match as closely as practicable the total return performance (net of withholding tax) of the Index through investing primarily Fund - Class A Unit Hang Seng China 50 Index in the constituent stocks of the Index. 220 220

FUND INFORMATION 200 200

Fund Manager Hang Seng Investment Management Limited 180 180 Trustee HSBC Institutional Trust Services (Asia) Limited 160 160 Unit Class Class A Unit Fund Code U44290 140 140 Start Date 21/09/2009 Unit Price HKD15.38 (1) 120 120 Past 52 weeks Hi/Lo HKD15.85/ 100 100 Unit price HKD11.95 Subscription Fee Up to 3% 80 80 Switching Fee (2) 1% Management Fee Up to 1% p.a. 60 60 Administration Fee Nil 09/09 04/11 11/12 05/14 12/15 07/17 02/19 08/20 Incentive Fee Nil Fund Size HKD100.29 million Cumulative Performance in HK Dollar Base Currency HKD 3 Mth 6 Mth 1 Yr 3 Yr 5 Yr L-T-D (3) Dealing Frequency One Dealing Session per Dealing Day Fund - Class A Unit 16.87% 12.10% 12.26% 12.43% 49.32% 53.80% (4) Volatility 19.80% Index 17.40% 13.21% 14.56% 20.27% 66.30% 97.03% (1) The subscription fee has not been included. Annual Performance in HK Dollar (2) The switching fee of Class A Unit of the Fund is up to 2%. Y-T-D 2019 2018 2017 2016 2015 (3) A Dealing Day is any day on which each of the stock exchanges on which the constituent stocks Fund - Class A Unit 2.53% 24.69% -18.44% 39.41% -3.20% -7.53% of the Index are listed is open for full day trading during its regular trading sessions. Currently, Index 4.01% 27.05% -16.54% 43.77% -0.78% -5.22% such stock exchanges mean the Stock Exchange and The Stock Exchange of Hong Kong Limited. * Fund : Unit Price-to-Unit Price return, total return with dividend (if any) reinvested. (Source: (4) This figure represents 3-year annualized volatility. Unit Prices are provided by HSBC Institutional Trust Services (Asia) Limited. The Fund's performance information is provided by the Manager.) ASSET ALLOCATION Index: Total return with dividend reinvested, net of PRC withholding tax. Source: Hang Seng Indexes Company Limited. Industry Breakdown : Share Class Breakdown : # Whilst the investment objective of the Fund is to match as closely as practicable the performance of the Index, there can be no assurance that the performance of the Fund will be Financials 44.11% A-Shares 61.17% identical to the performance of the Index. Factors that may affect the performance of the Fund Consumer Staples 14.39% relative to the Index include but are not limited to fees, costs and expenses borne by the Fund Information 12.98% Technology as well as time difference associated with portfolio re-balancing, etc. Properties & 7.44% Construction H-Shares 20.73% Consumer 6.02% Discretionary TOP HOLDINGS Energy 4.18% Other HK-listed 12.03% Telecommunications 3.91% Mainland Co. Holdings 11.16% Healthcare 2.93% Red Chip 5.96% - A Share 6.74% Industrials 1.81% Shares Utilities 1.71% - A Share 5.56% Conglomerates 0.41% Cash & Others 0.11% - 4.53% Cash & Others 0.11% - A Share 4.52% Wuliangye - A Share 3.76% Ping An Insurance - H Share 3.54% 3.09% Co Ltd 2.93% - A Share 2.62%

(Source: Hang Seng Investment Management Limited / HSBC Institutional Trust Services (Asia) Limited. All information as at 31 Aug 2020.)

Please read the disclaimer in relation to the Index in the Fund's Term Sheet. The Fund has been authorized by the Securities and Futures Commission in Hong Kong ("SFC"). (SFC authorisation is not a recommendation or endorsement of the Fund nor does it guarantee the commercial merits of the Fund or its performance. It does not mean the Fund is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors.) Certain information contained in this factsheet is obtained and prepared from sources which Hang Seng Investment Management Limited (“HSIM”) reasonably believes to be reliable. For information sourced externally (as disclosed), HSIM has reasonable belief that such information is accurate and complete. This factsheet is for your information and reference only, and does not constitute any offer, solicitation or recommendation to buy or sell any investment fund. Investors should note that all investments involve risks and not all investment risks are predictable. Prices of fund units may go up or down and past performance information presented is not indicative of future performance. Before making any investment decision, investors should refer to the relevant fund’s offering documents (including the full text of the risk factors stated therein) and obtain appropriate professional advice where necessary. This factsheet has not been reviewed by the SFC. Issued by Hang Seng Investment Management Limited (wholly-owned subsidiary of ) 恒生精選基金系列 Hang Seng Investment Series 恒生神州50指數基金 HANG SENG CHINA 50 INDEX FUND

銷售文件 Offering Documents

(繁體) (English)

基金說明書 Explanatory Memorandum

(繁體) (English)

產品資料概要 Product Key Facts Statement

年度財務報告 Annual Financial Report

中期財務報告 Interim Financial Report

投資者須注意所有投資均涉及風險(包括可能會損失投資本金)，基金單位價格可升亦可跌，而所呈列的過往表現資料並不表示 將來亦會有類似的表現。投資者在作出任何投資決定前，應詳細閱讀有關基金之銷售文件(包括當中所載之風險因素(就投資於 新興市場的基金而言，特別是有關投資於新興市場所涉及的風險因素)之全文)。 Investors should note that all investments involve risks (including the possibility of loss of the capital invested), prices of fund units may go up as well as down and past performance information presented is not indicative of future performance. Investors should read the relevant fund's offering documents (including the full text of the risk factors stated therein (in particular those associated with investments in emerging markets for funds investing in emerging markets)) in detail before making any investment decision.