# Objectives and Investment Policy
### Investment Objective:
The Fund aims to provide capital growth and income by investing in a portfolio of investment grade bonds denominated in US dollars (USD), while promoting environmental, social and governance (ESG) characteristics. The Fund aims to have a higher ESG rating than its reference benchmark; calculated as a weighted average of the ESG ratings of the issuers of the Fund’s investments versus the weighted average of the ESG ratings of its reference benchmark.
The Fund promotes ESG characteristics within the meaning of Article 8 of SFDR. More information on HSBC Global Asset Management’s responsible investing policies is available at www.assetmanagement.hsbc.com/about-us/responsible-investing/policies.

### Investment Policy:
The asset classes the Fund may invest in include but are not limited to: developed markets sovereigns, developed markets investment grade corporate securities, developed markets high yield corporate securities and emerging markets securities.

### The Fund will invest primarily in bonds (types of fixed income securities) issued in developed markets.
The Fund includes the identification and analysis of a company’s ESG Credentials as an integral part of the investment decision making process to reduce risk and enhance returns. ESG Credentials may include environmental and social factors, and corporate governance practices. The Fund will not invest in bonds issued by companies with involvement in specific excluded activities, such as: companies involved in the production of controversial weapons and tobacco; companies with more than 10% revenue generated from thermal coal extraction; and companies with more than 10% revenue generated from coal-fired power generation. The Fund conducts enhanced due diligence on bonds issuers that are considered to be non-compliant with the UN Global Compact Principles. Please refer to the Prospectus for more details on ESG Credentials and excluded activities.

### The Fund may invest up to 50% of its assets in asset backed securities (ABS) and mortgage-backed securities (MBS), including those backed by the government of the United States of America.

### The Fund may invest up to 10% of its assets in contingent convertible securities (CoCos). However, this is not expected to exceed 5%. The Fund will invest up to 10% in other funds.
The Fund may also use derivatives for managing interest, efficient portfolio management purposes, credit risks and currency positioning purposes. Derivatives will not be used extensively for investment purposes.
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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 Fund has an internal or external target to a reference benchmark, Bloomberg US Aggregate.
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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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### The deviation of the Fund’s performance relative to the benchmark is also monitored, but not constrained, to a defined range.
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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 (ENFR, 2022-10-19):
# Objectifs et politique d'investissement
### Objectif d’investissement :
Le Fonds cherche à générer une croissance du capital et des revenus en investissant dans un portefeuille d’obligations de catégorie investissement (« investment grade ») libellées en dollars US (USD), tout en promouvant des caractéristiques environnementales, sociales et de gouvernance (ESG). Le Fonds vise à obtenir une notation ESG supérieure à celle de son indice de référence, calculée comme une moyenne pondérée des notations ESG attribuées aux émetteurs des investissements du Fonds par rapport à la moyenne pondérée des notations ESG de son indice de référence.
Le Fonds promeut les caractéristiques ESG au sens de l’Article 8 du SFDR. Pour plus d’informations sur les politiques d’investissement responsable de HSBC Global Asset Management, consultez le site www.assetmanagement.hsbc.com/about-us/responsible-investing/policies.

### Politique d’investissement :

### Les catégories d’actifs dans lesquelles le Fonds peut investir comprennent, sans s’y limiter : des titres souverains des marchés développés, des titres d’entreprises de qualité investissement

### (« investment grade ») des marchés développés, des titres d’entreprises à haut rendement des marchés développés et des titres des marchés émergents.

### Le Fonds investira principalement dans des obligations (types de titres à revenu fixe) émises dans les marchés développés.
Le Fonds comprend l’identification et l’analyse des références ESG d’une entreprise comme partie intégrante du processus décisionnel en matière de placement visant à réduire les risques et à améliorer les rendements. Les références ESG peuvent inclure des facteurs environnementaux et sociaux, et des pratiques de gouvernance d’entreprise. Le Fonds n’investira pas dans des actions émises par des sociétés impliquées dans des activités exclues spécifiques, telles que : des sociétés impliquées dans la production d’armes controversées et de tabac, des sociétés tirant plus de 10 % de leurs revenus de l’extraction de charbon thermique, et dans des sociétés tirant plus de 10 % de leurs revenus de la production d’énergie au charbon. Le Fonds exerce une vigilance accrue sur les émetteurs obligataires qui sont considérés comme non conformes aux principes du Pacte mondial des Nations Unies. Veuillez vous reporter au Prospectus pour de plus amples informations sur les références ESG et les activités exclues.