Product Key Facts
CLSA Global Public Fund Series Open-ended Fund Company
CLSA US Dollar Money Market Fund
Issuer: CITIC Securities Asset Management (HK) Limited•••

April 2024

This statement provides you with key information about this product.
This statement is a part of the offering document and must be read in conjunction with theProspectus of CLSA Global Public Fund Series Open-ended Fund Company.
You should not invest in this product based on this statement alone.

Quick facts
Manager
Custodian
Ongoing charges over a year

Dealing frequency
Base currency
Dividend policy
Financial year end
Minimum investments

CITIC Securities Asset Management (HK) Limited (formerly known as “CLSA AssetManagement Limited”)
Bank of Communications Trustee Limited
Class A USD
0.38%#Class I USD
0.34%#Class A HKD
0.38%^Class I HKD
0.34%^Class A RMB
0.38%^Class I RMB
0.34%^Class B USD
0.59%#Class B HKD
0.59%^Class B RMB
0.59%^#The ongoing charges figure is based on the annualised expenses for the period ended
31 December 2023 based on the latest annual report and expressed as a percentageof the share class’s average net asset value over the same period. This figure mayvary from year to year.
^As this share class has not been incepted/funded, the ongoing charges figure
represents the estimated ongoing charges of the share class over a 12-month period
chargeable to the share class, based on active share classes with similar fee structure,
expressed as a percentage of the estimated average net asset value of the share classover the same period. The actual figures may be different from this estimated figure
and may vary from year to year.
Daily
USD
Class A / B / I
No dividend distribution (income, if any, will be reinvested)
31 December
Minimum initialsubscription
Class A USD
Class A HKDClass A RMBClass B USD
Class B HKD
Class B RMBClass I USD
Class I HKDClass I RMB

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USD1,000
HKD10,000
RMB10,000
USD1
HKD1
RMB1
USD100,000
HKD600,000
RMB600,000

Minimum
subsequent
subscription
USD1,000
HKD10,000
RMB10,000
USD1
HKD1
RMB1
USD100,000
HKD600,000
RMB600,000

CLSA US Dollar Money Market Fund

What is this product?
CLSA US Dollar Money Market Fund (the “Sub-Fund”) is a sub-fund of CLSA Global Public Fund Series Open-ended
Fund Company, which is a public open-ended fund company established under Hong Kong with variable capital withlimited liability and segregated liability between sub-funds. “CLSA” is the trading name used by various indirect subsidiaries
of CITIC Securities Company Limited outside of mainland China.
Investors should note that the purchase of a share in the Sub-Fund is not the same as placing funds on deposit with abank or deposit-taking company. The Sub-Fund does not have a constant net asset value per share and does notguarantee the repayment of investment principal. The Manager has no obligation to redeem the shares at the offer value.
The Sub-Fund is not subject to the supervision of the Hong Kong Monetary Authority.

Investment Objective and Policy
Investment objective
The Sub-Fund’s objective is to invest in short-term deposits and high quality money market investments. The Sub-Fundseeks to achieve a return in US Dollars (“USD”) in line with prevailing money market rates, with primary considerations ofboth capital preservation and liquidity. There can be no assurance that the Sub-Fund will achieve its investment objective.
Investment policy
The Sub-Fund will only invest in short-term deposits and high quality money market instruments. At least 70% of the SubFund’s net asset value will be invested in fixed and floating rate deposits and money market investments issued bygovernments, quasi-governments, international organisations and financial institutions. The asset allocation of the SubFund will change according to the Manager’s view of market conditions and the international investment trends andenvironment. The Manager will assess the yield of money market instruments, and will take into consideration factors suchas currency risk, credit/counterparty risk, liquidity, costs, timing of execution and the relative attractiveness of individual
securities and issuers in the market. The Manager may hedge any non-USD-denominated and settled investments into USD
to manage any material currency risk, such that the Sub-Fund’s USD exposure will be at least 70% of its net asset value.
Short-term Deposits and High Quality Money Market Investments
The aggregate value of the Sub-Fund’s holding of instruments and deposits issued by a single entity will not exceed 10%of the total net asset value of the Sub-Fund except: (i) where the entity is a substantial financial institution and the total
amount does not exceed 10% of the entity’s share capital and non-distributable capital reserves, the limit may be increased
to 25%; or (ii) in the case of Government and other Public Securities (as defined in the Prospectus), up to 30% may beinvested in the same issue; or (iii) in respect of any deposit of less than USD1,000,000, where the Sub-Fund cannot
otherwise diversify as a result of its size.
The Sub-Fund will maintain a portfolio with weighted average maturity not exceeding 60 days and a weighted average life
not exceeding 120 days. The Sub-Fund will not purchase an instrument with a remaining maturity of more than 397 days,or two years in the case of Government and other Public Securities.
There is no specific geographical allocation of the country of issue of the money market investments or deposits. Countries
or regions in which the Sub-Fund may invest in include Hong Kong, Mainland China, Japan, Korea, Australia, Canada, theEuropean Union and the United States. It is possible for the Sub-Fund to invest 30% or more of its net asset value inemerging markets.
The short-term deposits and high quality money market investments invested by the Sub-Fund may include short-term andhigh quality debt securities, commercial papers, certificates of deposits and commercial bills. In assessing whether a money
market instrument is of high quality, at a minimum, the credit quality and the liquidity profile of the money market instruments
must be taken into account as follows.

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CLSA US Dollar Money Market Fund-

Credit quality: the Sub-Fund will only invest in short-term and high quality debt securities issued outside Mainland
China rated investment grade or above by an independent rating agency. A short-term debt security is consideredinvestment grade if its credit rating is A-3 or higher by Standard & Poor’s or F3 or higher by Fitch or P-3 or higher by
Moody’s or equivalent rating as rated by one of the international credit rating agencies; For onshore debt securities
issued within Mainland China, the Sub-Fund may only invest in such securities which are rated at least AAA by a
Mainland China credit rating agency, including but not limited to, Golden Credit Ratings, CCXI, United Rating, Dagong
Global Credit Rating, Shanghai Brilliance Credit Rating & Investors Service; In assessing the credit quality of debt
securities, if the relevant debt security does not itself have a credit rating, then reference will be made to the credit ratingof the issuer of such debt security.

-

Maturity: Out of investments that fulfil the criteria on credit rating, the portfolio will be constructed out of investmentswith a target maturity of around 60 days (or below), subject to the overall limit in weighted average maturity, weighted
average life and remaining maturity of the portfolio as described above.

-

Liquidity: Investments that satisfy the above requirements will be assessed based on liquidity. The Manager will assess
the liquidity of the investments based on historical liquidity of similar debt securities, by assessing the days to liquidate
for such instruments. Only instruments with high liquidity will be included in the portfolio of the Sub-Fund.

The RMB denominated and settled short-term and high quality debt securities issued in Mainland China invested by the
Sub-Fund may be traded on the interbank bond market in Mainland China. The Sub-Fund may invest directly in suchsecurities through all available means, including but not limited to, the Qualified Foreign Investor regime (“QFI Regime”),
Bond Connect (i.e. the initiative for mutual bond market access between Mainland China and Hong Kong), the China
Interbank Bond Market (“CIBM”) under the Foreign Access Regime announced by the People’s Bank of China in February
2016, or such other means as permitted by the relevant regulatory authorities from time to time. For the avoidance of doubt,
the Sub-Fund will not invest 70% or more of its net asset value via the QFI Regime and/or the CIBM under the Foreign
Access Regime.
Repurchase Transactions, Reverse Repurchase Transactions and Borrowing
The Sub-Fund may enter into repurchase transactions traded over-the-counter for up to 10% of its net asset value. Cashobtained in repurchase transactions will be used for meeting redemption requests or defraying operating expenses, but will
not be re-invested.
The Sub-Fund may enter into reverse repurchase transactions traded over-the-counter (provided that the aggregate amountof cash provided to the same counterparty may not exceed 15% of its net asset value) for up to 30% of its net asset value.
The maximum and expected aggregate exposure level of the Sub-Fund’s engagement in sale and repurchase and/or
reverse repurchase transactions will be up to 40% of its net asset value. The Sub-Fund may not engage in securities lending.
The Sub-Fund may borrow up to 10% of its net asset value but only on a temporary basis for the purpose of meeting
redemption requests or defraying operating expenses.
Other Investments
The Sub-Fund may invest up to 15% of its net asset value in high quality asset backed commercial papers (“ABCP”). ABCP
are typically issued by a bank or other financial institution. They are backed by physical assets such as trade receivables,
and are generally used for short-term financing needs. The Manager will select short-term and high quality ABCP, using thesame criteria as set out above for selection of short-term and high quality debt securities.
The Sub-Fund will not invest in instruments with loss-absorption features (such as contingent convertible bonds or senior
non-preferred debt), other collective investment schemes, structured deposits or structured products (save for ABCP as
mentioned above) or to take any short positions.
The Sub-Fund may use derivative instruments such as currency forward contracts, swaps, financial futures and options
contracts for hedging purposes only. The Sub-Fund will not invest in any derivative instruments for investment purposes.
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CLSA US Dollar Money Market Fund
Use of derivatives / investment in derivatives
The Sub-Fund’s net derivative exposure may be up to 50% of the Sub-Fund’s net asset value.

What are the key risks?
Investment involves risks. Please refer to the Prospectus for details including the risk factors.
1.

General Investment risk•

The Sub-Fund’s investment portfolio may fall in value due to any of the key risk factors below and therefore yourinvestment in the Sub-Fund may suffer losses. There is no guarantee of repayment of principal.

2. Risks associated with bank deposits•

3.

Bank deposits are subject to the credit risks of the relevant financial institutions. The Sub-Fund may also placedeposits in non-resident accounts (NRA) and/or offshore accounts (OSA) with Mainland Chinese banks. The SubFund’s deposit may not be protected by any deposit protection schemes, or the value of the protection under thedeposit protection schemes may not cover the full amount deposited by the Sub-Fund. Therefore, if the relevant
financial institution defaults, the Sub-Fund may suffer losses as a result.

Risks associated with short-term money market instruments / debt securities
Short-term money market instruments / debt securities risk•

As the Sub-Fund invests significantly in short-term money market instruments / debt securities with short maturities,
it means the turnover rates of the Sub-Fund’s investments may be relatively high and the transaction costs incurred
as a result of the purchase or sale of such securities may also increase which in turn may have a negative impact
on the net asset value of the Sub-Fund.

Interest rate risk•

Investment in the Sub-Fund is subject to interest rate risk. In general, the prices of short-term money market
instruments / debt securities rise when interest rates falls, whilst their prices fall when interest rates rise.

Credit / Counterparty risk•

The Sub-Fund is exposed to the credit/default risk of issuers of the short-term money market instruments / debt
securities that the Sub-Fund may invest in.

Downgrading risk•

The credit rating of short-term money market instruments / debt securities or their issuer may subsequently be
downgraded. In the event of downgrading, the value of the Sub-Fund may be adversely affected. The Manager
may or may not be able to dispose of such securities that are being degraded.

Credit rating risk•

Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness ofthe short-term money market instruments / debt securities and/or issuer at all times.

Credit rating agency risk•

The credit appraisal system in Mainland China and the rating methodologies employed in the Mainland China may
be different from those employed in other markets. Credit ratings given by Mainland China rating agencies may
therefore not be directly comparable with those given by other international rating agencies.

Sovereign debt risk•

The Sub-Fund’s investment in securities issued or guaranteed by governments may be exposed to political, socialand economic risks. In adverse situations, the sovereign issuers may not be able or willing to repay the principal
and/or interest when due or may request the Sub-Fund to participate in restructuring such debts. The Sub-Fund
may suffer significant losses when there is a default of sovereign debt issuers.

Valuation risk•

Valuation of the Sub-Fund’s investments may involve uncertainties and judgmental determinations. If suchvaluation turns out to be incorrect, this may affect the net asset value calculation of the Sub-Fund.

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CLSA US Dollar Money Market Fund
4. Concentration risk•

The Sub-Fund will have USD exposure of at least 70% of its net asset value. The Sub-Fund may also at times
be concentrated in a particular market or region such as Mainland China. The value of the Sub-Fund may be
more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event
affecting the Mainland China and USD market. Also, the value of the Sub-Fund may be more volatile than thatof a fund having a more diverse portfolio of investments.

5. Emerging market risk•

Investing in emerging markets involves increased risks and special considerations not typically associated withinvestment in more developed markets, such as liquidity risks, currency risks/control, political and economic
uncertainties, legal and taxation risks, settlement risks, custody risk and the likelihood of a high degree ofvolatility.

6. Risks associated with CIBM and Bond Connect•

Investing in the CIBM via Foreign Access Regime and/or Bond Connect is subject to regulatory risks and various
risks such as volatility risk, liquidity risk, settlement and counterparty risk as well as other risk factors typicallyapplicable to debt securities. The relevant rules and regulations are subject to change which may be potential
retrospective effect.

7. Risks associated with investment made through QFI Regime•

The Sub-Fund’s ability to make the relevant investments or to fully implement or pursue its investment objective
and strategy is subject to the applicable laws, rules and regulations (including restrictions on investments andrepatriation of principal and profits) in Mainland China, which are subject to change and such change may havepotential retrospective effect.

•

The Sub-Fund may suffer substantial losses if the approval of the QFI status of the Manager is being
revoked/terminated or otherwise invalidated as the Sub-Fund may be prohibited from trading of relevant
securities and repatriation of the Sub-Fund’s monies, or if any of the key operators or parties (including QFIcustodian/brokers) is bankrupt, in default and/or is disqualified from performing its obligations (including
execution or settlement of any transaction or transfer of monies or securities).

8. Mainland China tax risk

9.

•

There are risks and uncertainties associated with the current Mainland China tax laws, regulations and practicein respect of capital gains realised via QFI Regime, Bond Connect and/or CIBM under the Foreign Access
Regime on the Sub-Fund’s investments in Mainland China (which may have retrospective effect). Any increased
tax liabilities on the Sub-Fund may adversely affect the Sub-Fund’s value.

•

Based on professional and independent tax advice, the Sub-Fund will not make tax provision for realised andunrealised capital gains on the Sub-Fund’s investments in Mainland China.

•

If taxes are levied on the Sub-Fund for which no provision is made, the actual tax liabilities, which will be debitedfrom the Sub-Fund’s assets, will adversely affect the Sub-Fund’s net asset value.

Currency risk•

The underlying investments of the Sub-Fund may be denominated in currencies other than the base currency of
the Sub-Fund. Also, a class of shares of the Sub-Fund may be designated in a currency other than the basecurrency of the Sub-Fund. The net asset value of the Sub-Fund may be affected unfavourably by fluctuations in theexchange rates between such currency and the base currency and by changes in exchange rate controls.

10. Risk relating to investment in derivatives and hedging•

Although the Manager may hedge any non-USD-denominated and settled investments into USD to manage any
material currency risk, there can be no assurance that any currency hedging strategy will fully and effectively
eliminate the currency exposure of the Sub-Fund. Risks associated with derivatives include counterparty/credit risk,
liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk. The leverage element/component ofderivatives can result in a loss significantly greater than the amount invested in the derivatives by the Sub-Fund.
Exposure to derivatives may lead to a high risk of significant loss by the Sub-Fund.

11. RMB currency and conversion risk
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CLSA US Dollar Money Market Fund•The Sub-Fund may invest significantly in RMB-denominated investments. Non-RMB based investors are exposed
to foreign exchange risk and there is no guarantee that the value of RMB against the investors’ base currencies(e.g. USD or HKD) will not depreciate. Any depreciation of RMB could adversely affect the value of investor’s
investment in the Sub-Fund.

•The Sub-Fund’s investment in RMB-denominated investments and the share classes denominated in RMB may bevalued with reference to the offshore RMB (CNH) rather than onshore RMB (CNY). Although CNH and CNY are
the same currency, they are traded in different and separate markets which operate independently. As such, CNH
does not necessarily have the same exchange rate and may not move in the same direction as CNY. Any
divergence between CNH and CNY may adversely impact investors.

•

RMB is currently not freely convertible and is subject to exchange controls and restrictions. Under exceptional
circumstances, payment of redemptions and/or dividend payment in RMB may be delayed due to the exchange
controls and restrictions applicable to RMB.

12. Risks relating to reverse repurchase transactions•

The Sub-Fund may engage in reverse repurchase transactions where the Sub-Fund purchases securities (i.e. in
effect, the collateral received by the Sub-Fund for the transactions) from a counterparty and agrees to sell suchsecurities back at an agreed price in the future. In the event of the failure of the counterparty with which cash has
been placed, the Sub-Fund may suffer loss as there may be delay in recovering cash placed out or difficulty inrealising collateral or proceeds from the sale of the collateral may be less than the cash placed with the counterparty
due to inaccurate pricing of the collateral or market movements.

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CLSA US Dollar Money Market Fund
How has the Sub-Fund performed?
Since the Sub-Fund is newly set up, there is insufficient data to provide a useful indication of past performance to investors.

Is there any guarantee?
The Sub-Fund does not have any guarantees. You may not get back the full amount of money you invest.

What are the fees and charges?
Charges which may be payable by you
You may have to pay the following fees when you deal in the shares of the Sub-Fund.
Fee

What you pay

Subscription fee

Classes A, B and I(Preliminary Charge as
defined in the Prospectus)

Maximum and current: Up to 0.5% of the Subscription amount

Switching fee

Classes A, B and I(Conversion Charge as
defined in the Prospectus)

Nil

Redemption fee

Classes A, B and I(Redemption Charge as
defined in the Prospectus)

Nil

Ongoing fees payable by the Sub-Fund
The following expenses will be paid out of the Sub-Fund. They affect you because they reduce the return you get on
your investments.

Management fee

Custodian fee

Annual Rate (as a % of the net asset value of the relevant share class, unlessotherwise indicated)
Class A
Maximum: 0.25%; Current: 0.15%
Class B
Maximum and current: 0.6%
Class I
Maximum: 0.2%; Current: 0.1%
On the first USD 100 million of the net
0.06%
asset value of the Sub-Fund
On any portion of the Sub-Fund’s net
asset value in excess of USD 100 million

0.05%(subject to a minimum monthly fee of USD 3,500 (or equivalent) after six months fromthe launch of the Sub-Fund)
Performance fee

NilAdministration fee

Included in the custodian fee

Other fees
You may have to pay other fees when dealing in the shares of the Sub-Fund.

Additional Information•

You generally subscribe and redeem shares at the Sub-Fund’s next-determined net asset value per share attributable
to the relevant share class after the Administrator receives your request directly, or via a distributor, in good order by
11:00 a.m. (Hong Kong time), being the Sub-Fund’s dealing cut-off time on dealing day of the Sub-Fund. Before placing
your dealing orders, please check with your distributor for the distributor’s internal dealing cut-off time (which may beearlier than the Sub-Fund’s dealing cut-off time).
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CLSA US Dollar Money Market Fund•

The net asset value of the Sub-Fund is calculated and the price of each shares class is available on each BusinessDay (as defined in the Prospectus) online at www.clsa.com/services/assets-management/.

•

Please note that the website as cited in this document has not been reviewed by the SFC.

Important
If you are in doubt, you should seek professional advice.
The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy orcompleteness.

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