Objectives and Investment Policy Investment Objective: The Fund aims to provide capital growth and income by investing in a portfolio of Asian bonds. Investment Policy: The Fund will invest primarily in investment grade and non-investment grade rated bonds and unrated bonds. The bonds will be issued by Asian governments, government-related entities, and companies that are based in or which carry out most of their business in Asia. At least 70% of the Fund's bonds will be valued in Asian currencies. The Fund may also invest up to 30% of its assets in bonds valued in other developed and emerging markets currencies. The Fund may invest up to 30% of its assets in Chinese onshore bonds through the China Interbank Bond Market (CIBM), with a maximum of 10% in onshore non-investment grade bonds. The Fund may invest up to 10% of its assets in convertible bonds. The Fund may invest up to 10% of its assets in funds (including other funds of HSBC). The Fund may also invest in derivativesand use them for hedging and efficient portfolio management purposes. Derivatives will not be used extensively for investment purposes. Derivatives may also be embedded in other instruments used by the Fund. The Fund may enter into securities lending transactions for up to 29% of its assets. However, this is not expected to exceed 25%. The reference currency of the Fund is USD. The reference currency of this share class is EUR. The Fund is actively managed and does not track a benchmark. The Fund has an internal or external target to a reference benchmark, Markit iBoxx Pan Asia Bond ex China & HK. The Investment Advisor will use its discretion to invest in securities not included in the reference benchmark based on active investment management strategies and specific investment opportunities. It is foreseen that a significant percentage of the Fund's investments will be components of the reference benchmark. However, their weightings may deviate materially from those of the reference benchmark. The deviation of the Fund’s underlying investments’ weightings relative to the benchmark are monitored, but not constrained, to a defined range. Income is distributed. You may sell your investment on most working days. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within a period of 5 years.