# TRANSACTION COSTS
Transaction costs incurred by the Sub-Funds relate to the purchase or sale of transferable securities, derivatives or other eligible assets. Transaction costs include commission costs, settlement fees and broker fees. Any depositary transaction costs of each Sub-Fund are included on the Statement of operations and changes in net assets under Depositary bank and administration fees. Not all transaction costs are separately identifiable. For fixed income investments, forward currency contracts and other derivative contracts, transaction costs are included in the purchase and sales price of the investment. These transactions costs are captured within the performance of each Sub-Fund.
The transaction costs incurred by the Sub-Funds during the six months ended 30 September 2021 are as follows:
| USD |
| --- |
| 2 Degree Global Equity Fund | 139,834 |
| China A Focus Fund | 38,893 |
| Emerging Markets Equity Fund | 92,125 |
| Emerging Markets Equity Income Fund | 441,994 |
| Global Equity Fund1 | 20,483 |
| Global Equity Enhanced Income Fund | 61,635 |
| Global Factor Enhanced Equity Fund | 9,982 |
| Global Long/Short Equity Fund | 238,062 |
| Global Small Cap Equity Fund | 22,716 |
| Small Cap Innovation Fund | 2,693 |


###### 1	The Sub-Fund liquidated on 26 July 2021.
2 Degree Global Equity Fund, Alternative Risk Premia Fund, China A Focus Fund, EUR Short Duration Credit Fund, Global Equity Enhanced Income Fund and USD Government Money Market Fund have not been authorised by the Hong Kong Securities and Futures Commission and are not available for investment by Hong Kong retail investors.
| USD |
| --- |
| U.S. All Cap Growth Fund | 291,822 |
| U.S. Large Cap Growth Fund | 8,558 |
| U.S. Select Equity Fund | 130,331 |

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Translation (ENFR, 2021-09-30):
# FRAIS DE TRANSACTIONS
Les frais de transaction engagés par les Compartiments concernent l’achat ou la vente de valeurs mobilières, instruments dérivés ou autres actifs éligibles. Les frais de transaction incluent le coût des commissions, les commissions de règlement et les commissions des courtiers. Les frais de transaction liés au service du dépositaire fourni à chaque Compartiment sont inclus dans le Compte de résultat et l’État des variations de l’actif net au poste Commissions de banque dépositaire et d’administration. Les frais de transaction ne sont pas tous distinctement identifiables. Pour les investissements à revenu fixe, les contrats de change à terme et les autres contrats dérivés, les frais de transaction sont inclus dans le prix d’achat et de vente de l’investissement. Ces frais de transaction sont comptabilisés dans les performances de chaque Compartiment.
Les frais de transaction engagés par les Compartiments au cours du semestre clos le 30 septembre 2021 sont tels que suit :
|  | USD |
| --- | --- |
| 2 Degree Global Equity Fund | 139 834 |
| China A Focus Fund | 38 893 |
| Emerging Markets Equity Fund | 92 125 |
| Emerging Markets Equity Income Fund | 441 994 |
| Global Equity Fund 1 | 20 483 |
| Global Equity Enhanced Income Fund | 61 635 |
| Global Factor Enhanced Equity Fund | 9 982 |
| Global Long/Short Equity Fund | 238 062 |
| Global Small Cap Equity Fund | 22 716 |
| Small Cap Innovation Fund | 2 693 |

1  

##### Le Compartiment a été liquidé le 26 juillet 2021.
Les Compartiments 2 Degree Global Equity Fund, Alternative Risk Premia Fund, China A Focus Fund, EUR Short Duration Credit Fund, Global Equity Enhanced Income Fund et USD Government Money Market Fund ne sont pas autorisés par la Hong Kong Securities and Futures Commission et ne sont donc pas ouverts aux investisseurs particuliers résidents de Hong Kong.
|  | USD |
| --- | --- |
| U.S. All Cap Growth Fund | 291 822 |
| U.S. Large Cap Growth Fund | 8 558 |
| U.S. Select Equity Fund | 130 331 |

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