HSBC China Government Local Bond UCITS ETF

Investment Objective: To achieve regular income and capital growth. Investment Policy: To track the performance of the Bloomberg China Treasury + Policy Bank Index (total return) (the “Index”), while minimising as far as possible the Tracking Error between the HSBC Global Funds ICAV – China Government Local Bond UCITS ETF’s (the “Sub-Fund”) performance and that of the Index. The Sub-Fund may invest in fixed income securities which are Index constituents (as described under the Index section below). If the overall portfolio matches the characteristics of the Index, the Sub-Fund may also invest in assets which are not Index constituents for the purpose of assisting in tracking the Index, including: 1) securities which are no longer or not yet part of the Index, or other securities that provide similar performance and risk profile to securities in the Index; 2) cash and money market instruments including bills, commercial paper and certificates of deposits for ancillary liquidity purposes; and 3) units or shares of CIS for hedging EPM and cash management purposes. Credit Ratings of the underlying securities may vary from time to time. The average Credit Rating of the investments comprising the Sub-Fund’s portfolio is expected to be approximate to the average Credit Rating of those comprising the Index. With the exception of permitted investments in unlisted securities or over-the-counter derivative instruments, the securities in which the Sub-Fund invests will be listed or traded on the China Interbank Bond Market.