# Objectives and Investment Policy
### Investment Objective:

### The Fund aims to provide long term capital growth and income by investing in a portfolio of shares from Brazil, Russia, India and China (including Hong Kong SAR).

### Investment Policy:
In normal market conditions, the Fund will invest at least 90% of its assets in shares (or securities similar to shares) of companies of any size, that are based in, or carry out most of their business in Brazil, Russia, India and/or China (including Hong Kong SAR).
Investments in Chinese share markets include China A-shares and China B-shares with a maximum exposure of 50% of the Fund's assets. The Fund may invest up to 40% of its assets in China A-shares through the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. The Fund may invest up to 30% of its assets in China A-shares indirectly through China A-shares Access Products (CAAP) and may invest up to 10% of its assets in CAAPs issued by any single issuer.

### The Fund may invest up to 10% of its net assets in other funds, including HSBC funds.

### The Fund may also invest in derivatives. The Fund may use them for hedging and cashflow management purposes. Derivatives will not be

### used extensively for investment purposes. Derivatives may also be embedded in other instruments used by the Fund.
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### The Fund may enter into securities lending transactions for up to 29% of its assets. However, this is not expected to exceed 25%.
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### The reference currency of the Fund is USD. The reference currency of this share class is USD.
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### The Fund is actively managed and does not track a benchmark. The reference benchmark for the Fund is 25% MSCI Brazil Net|25% MSCI China Net|25% MSCI Russia Net|25% MSCI India Net.
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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.
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### Income is reinvested.
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### You may sell your investment on most working days.
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### Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within a period of 5 years.

Translation (ENES, 2022-05-25):
# Objetivos y Política de inversión
### Objetivo de inversión:

### El Fondo tiene como objetivo proporcionar un crecimiento de capital e ingresos a largo plazo invirtiendo en una cartera de acciones de Brasil, Rusia, India y China (incluida la RAE de Hong Kong).

### Política de inversión:
En condiciones normales del mercado, el Fondo invertirá al menos el 90 % de sus activos en acciones (o valores similares a las acciones) de empresas de cualquier tamaño, que tengan su sede o realicen la mayor parte de sus actividades comerciales en Brasil, Rusia, India y/o China (incluida la RAE de Hong Kong).
Las inversiones en los mercados de acciones de China incluyen las acciones A de China y las acciones B de China con una exposición máxima del 50 % de los activos del Fondo. El Fondo puede invertir hasta el 40 % de sus activos en acciones A de China a través del Shanghai-Hong Kong Stock Connect y el Shenzhen-Hong Kong Stock Connect. El Fondo puede invertir hasta el 30 % de sus activos en acciones A de China de forma indirecta mediante productos de acceso a acciones de clase A de China («CAAP», por sus siglas en inglés), y puede invertir hasta el

### 10 % de sus activos en CAAP emitidos por un único emisor.

### El Fondo puede invertir hasta el 10 % del patrimonio neto en otros fondos, incluidos los fondos de HSBC.

### El Fondo también puede invertir en derivados. El Fondo podrá utilizarlos con fines de cobertura y de gestión de flujo de efectivo. Los derivados no se utilizarán