cies## eligible schroder international selection fund hong kong … · 2020. 12. 31. · fund...

Learn more about Schroders' funds visit: schroders.com.hk 1

Important Information

The fund invests primarily in equity and equity related securities of Hong Kong companies. •The fund invests in equity would subject to equity investment risk.•The fund invests in concentrated region and PRC and may be subject to political, social and economic risk, legal and regulatory risks, liquidityand volatility, etc. .•The fund invests in mainland China would subject to the risks related to investments via the Stock Connect. Stock Connect has quota limitationsand its rules are subject to change with potential retrospective effect.•The fund may use China market access to gain exposure to China A-Share indirectly and involves additional risks additional risks including lackof a secondary market in such instruments, illiquidity of the underlying securities, difficulty in selling these instruments at times when theunderlying markets are closed and counterparty default risk.•The fund may use derivatives to meet its investment objective. Derivatives exposure may involve higher counterparty, liquidity and valuationrisks. In adverse situations, the fund may suffer significant losses from their derivative usage for hedging.•For share classes with a general dividend policy, expenses will be paid out of capital rather than out of gross income. The amount ofdistributable income therefore increases and the amount so increased may be considered to be dividend paid out of capital. Share classes witha fixed dividend policy may pay out both income and capital in distributions. Where distributions are paid out of capital, this amounts to areturn or withdrawal of part of your original investment or capital gains attributable to that and may result in an immediate decrease in the netasset value of shares.You should not make any investment decision solely based on this document. Please read the relevant offering document carefully for furtherfund details including risk factors.

Investment Objectives

The fund aims to provide capital growth by investing in equity and equity related securities of Hong Kong SAR companies.

Schroder International Selection Fund Hong Kong Equity

A Accumulation HKD | Data as at 31.03.2021

CIES## Eligible

http://schroders.com.hk/


Share class performance (Cumulative)

Performance (%) 1 month 3 months 6 months YTD 1 year 3 years 5 years 10 years

Fund -2.1 5.8 24.7 5.8 57.4 23.7 98.9 108.3

Benchmark 0.7 7.9 26.4 7.9 41.6 16.4 68.8 88.1

Annual Performance(%)

2016 2017 2018 2019 2020

Fund 0.5 51.6 -14.1 15.4 20.7

Benchmark 4.1 37.4 -10.0 11.2 7.0

Performance over 5 years (%)

Schroder International Selection Fund Hong Kong Equity A Accumulation HKD FTSE Hong Kong TR

2016 2017 2018 2019 2020-50.0%

0.0%

50.0%

100.0%

Source: Morningstar, NAV to NAV, net income reinvested, net of fees, based on SchroderInternational Selection Fund Hong Kong Equity A Accumulation HKD Units, HKD. Someperformance differences between the fund and the benchmark may arise as the benchmarkreturns are not adjusted for non-dealing days of the fund. The Fund size quoted includes allclasses of the Fund. Investment involves risks. Price of units may go down as well as up. Pastperformance is not indicative of future performance. Please refer to the relevant offeringdocuments for fund details including risk factors. This material is issued by SchroderInvestment Management (Hong Kong) Limited and has not been reviewed by the SFC.Performance is calculated from the share class's since launch date (09.08.2002). ##CapitalInvestment Entrant Scheme is referred to as CIES. The CIES has been suspended with effectfrom 15.01.2015 until further notice. Please visit the HKSAR Immigration Department websiteand/or check with your Financial Intermediary for details. Benchmark changed from 90% FTSEAWHK – Hong Kong, 10% HSBC to 90% FTSE AW HK – Hong Kong Net, 10% HSBC effectivefrom 02.04.2013, and to FTSE Hong Kong Net effective from 03.07.17. The full track record ofthe previous benchmark has been kept and chain linked to the new one. SchroderInternational Selection Fund is referred to as Schroder ISF.

Fund literature

Download the offeringdocuments here

Ratings and accreditation

Please refer to the Source and ratingsinformation section for details on the iconsshown above.

Fund facts

Fund manager Toby HudsonFund launch date 09.08.2002Fund base currency HKDFund size (Million) HKD 15,958.77Number of holdings 42Benchmark FTSE Hong Kong TRUnit NAV HKD 586.2907Hi/Lo (past 12 mths) HKD 639.0023 / HKD

369.8476Annualized Return (3Y) 7.34%

Fees & expenses

Initial charge up to 5.00%Annual managementfee

1.5%

Redemption fee 0.00%

Codes

ISIN LU0149534421Bloomberg SCHHEAA LXReuters code LU0149534421.LUF

Risk statistics & financial ratios

Fund Benchmark

Annual volatility (%)(3y)

20.4 20.5

Alpha (%) (3y) 2.5 -

Beta (3y) 0.9 -

Sharpe ratio (3y) 0.4 0.3

Information ratio(3y)

0.3 -

Price to book 1.6 -

Price to earnings 21.2 -

Predicted Trackingerror (%)

8.2 -

Source: Morningstar, and Schroders for thePredicted tracking error. The above ratios arebased on NAV to NAV price based performancedata. These financial ratios refer to the averageof the equity holdings contained in the fund’sportfolio and in the benchmark (if mentioned)respectively.



CIES## Eligible



Return of HKD 100,000

Schroder International Selection Fund Hong Kong Equity A Accumulation HKD FTSE Hong Kong TR

Jan-17 Jan-18 Jan-19 Jan-20 Jan-2175,000

100,000

125,000

150,000

175,000

200,000

225,000

-25.0%

0.0%

25.0%

50.0%

75.0%

100.0%

125.0%

Past Performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up andinvestors may not get back the amounts originally invested. Exchange rate changes maycause the value of any overseas investments to rise or fall. The chart is for illustrative purposes only and does not reflect an actual return on anyinvestment. Returns are calculated NAV to NAV (which means performance does not include the effect ofany initial charges), net income reinvested, net of fees.

Asset allocation

Sector (%)

Fund Benchmark

Consumer Discretionary

Financials

Real estate

Technology

Industrials

Other

Healthcare

Consumer Staples

Energy

Liquid Assets

34.813.8

20.740.3

13.318.2

8.22.9

7.611.3

6.50.0

3.90.4

3.94.5

2.00.2

-0.90.0

0% 10% 20% 30% 40%

Region (%)

Fund Benchmark

Emerging Markets

Pacific ex-Japan

United Kingdom

Other

Liquid Assets

51.911.6

40.683.7

4.20.0

4.24.4

-0.90.0

0% 10% 20% 30% 40% 50% 60% 70% 80%



CIES## Eligible



Top 10 holdings (%)

Holding name %

AIA Group Ltd 7.8

Tencent Holdings Ltd 6.7

Alibaba Group Holding Ltd 5.3

Techtronic Industries Co Ltd 4.2

Galaxy Entertainment Group Ltd 4.2

Haitian International Holdings Ltd 3.9

China Pacific Insurance Group Co Ltd 3.8

Hong Kong Exchanges & Clearing Ltd 3.6

Schroder Umbrella Fund II - China Equity Alpha Fund 3.3

Schroder International Selection Fund - China A 3.2

Source: Schroders.Percentages of allocation may not sum up to 100% due to rounding issue. Derivatives are displayed on the notional basis of the underlying exposurewhere possible. Due to the different treatment of derivative types, the allocation to Liquid Assets may vary between each chart.

Share class available

A Accumulation HKD A Accumulation USD

Distribution Policy No Distribution No Distribution

ISIN LU0149534421 LU0607220059

Bloomberg SCHHEAA LX SCKUAAU LX

Benchmark and corporate action information

The Schroder ISF Hong Kong Equity fund was launched to accommodate a transfer of shareholders from the Schroder range of Hong Kong unittrusts to the Schroder ISF SICAV. On 03.07.2017 the FTSE Hong Kong Net replaced the 90% FTSE AW HK - Hong Kong Net, 10% HSBC. The full trackrecord of the previous index has been kept and chainlinked to the new one.

Important information

* Morningstar Rating as at 31.03.2021: © Morningstar 2021. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstarand/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstarnor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee offuture results.



CIES## Eligible


1

PRODUCT KEY FACTS Schroder International Selection Fund –

Hong Kong Equity

Issuer: Schroder Investment Management (Europe) S.A. April 2021

This statement provides you with key information about this product. This statement is a part of the offering document.

You should not invest in this product based on this statement alone.

Quick facts

Management company: Schroder Investment Management (Europe) S.A.

Investment manager: Schroder Investment Management (Hong Kong) Limited, located in Hong Kong, internal delegation

Depositary: J.P. Morgan Bank Luxembourg S.A.

Ongoing charges over a year*: Class A HKD Acc 1.84% Class A USD Acc 1.84%

Class A1 HKD Acc 2.34% Class A1 USD Acc 2.34%

Class D HKD Acc 2.84%

Dealing frequency: Daily

Base currency: HKD

Dividend policy: A, A1 and D Accumulation share classes – Dividend will not be distributed but will be reinvested into the fund.

A, A1 and D Distribution share classes – The board of directors generally has discretion as to whether or not to make any distribution.

Distributions may be paid out of capital and reduce the fund’s net asset value.

Financial year end of this fund: 31 December

Minimum investment: A, A1 and D share classes: Initial – EUR1,000 or USD1,000 (or equivalent);

Subsequent investment – EUR1,000 or USD1,000 (or equivalent)

* The ongoing charges figure is based on the expenses for the year ended 31 December 2020. This figure may vary from year to year.

What is this product? This is a sub-fund of Schroder International Selection Fund, a mutual fund domiciled in Luxembourg and its home regulator is Commission de Surveillance du Secteur Financier.

Schroder International Selection Fund – Hong Kong Equity

2

Objectives and investment strategy Investment Objective

The fund aims to provide capital growth in excess of the FTSE Hong Kong (Net TR) index after fees have been deducted over a three to five year periodNote by investing in equity and equity related securities of Hong Kong SAR companies.

Investment Policy

The fund is actively managed and invests at least two-thirds of its assets in equity and equity related securities of Hong Kong SAR companies.

The fund may invest directly in China B-Shares and China H-Shares and may invest less than 30% of its assets (on a net basis) directly or indirectly through derivatives in China A-Shares through Stock Connect (as defined below).

The fund is not subject to any limitation on the market capitalisation of the companies that it may invest in.

The fund may also invest up to one-third of its assets directly or indirectly in other securities (including other asset classes), countries, regions, industries or currencies, investment funds, warrants and money market investments, and hold cash.

The fund may invest directly in China A-Shares via the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect (collectively “Stock Connect”) (as further described in the section headed “Stock Connect” in the Hong Kong Covering Document). Indirect exposure to China A-Shares may also be sought for the fund through investment in financial instruments such as China market access products and other funds with China access through Qualified Foreign Investor status. The fund does not currently intend to invest 30% or more of the net asset value of the fund directly and indirectly in China A-Shares and China B-Shares.

Under exceptional circumstances (e.g. market crash or major crisis), the fund may be invested temporarily up to 100% of its net asset value in liquid assets such as bank deposits, certificates of deposit, commercial paper and treasury bills for cash flow management.

The fund may use derivatives with the aim of reducing risk or managing the fund more efficiently. Derivatives can be used for instance to create market exposures through equity, currency, volatility or index related financial derivative instruments and include over-the-counter and/or exchange traded options, futures, contracts for difference, warrants, swaps, forward contracts and/or a combination of the above. Note For clarification purpose, this means to exceed a medium to long term return of the stated index after fees have been deducted. The three to five year period is considered as a medium to long term period, and is the period over which an investor should assess the fund’s performance.

Benchmark

The fund’s performance should be assessed against its target benchmark being to exceed the FTSE Hong Kong (Net TR) index (“Target Benchmark”) and compared against the Morningstar Hong Kong Equity Category (“Comparator Benchmark”). The fund’s investment universe is expected to overlap to a limited extent with the components of the Target Benchmark. The Comparator Benchmark is only included for performance comparison purposes and does not have any bearing on how the investment manager invests the fund’s assets.

Use of derivatives / investment in derivatives The fund’s net derivative exposure may be up to 50% of the fund’s net asset value.


3

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

1. Equity investment risk

Investment in equity securities is subject to the risk that the market value of the stocks may go down as well as up due to numerous factors such as changes in investment sentiment, political environment, economic environment, issuer-specific factors, regional or global economic instability, currency and interest rate fluctuations. If the market value of the stocks go down the net asset value of the fund may be adversely affected.

2. Concentrated geographical locations

The fund investing in concentrated geographical locations may be subject to a higher level of risks comparing to a fund investing in a more diversified portfolio/strategy. The value of the fund may be more susceptible to adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event affecting the relevant geographical locations.

3. Risks related to investment in the People’s Republic of China (the “PRC”)

Investing in the securities market in the PRC is subject to the risks specific to the PRC market including change in political, social or economic policy risk, liquidity and volatility risk, currency and exchange risk.

– Change in political, social or economic policy risk – The investment will be sensitive to any significant change in political, social or economic policy in the PRC which may adversely affect the capital growth and thus the fund performance.

– Legal and regulatory risk – The regulatory and legal framework for capital markets and joint stock companies in the PRC may not be as well developed as those of developed countries. PRC companies are required to follow the PRC accounting standards and practice which may deviate significantly from international accounting standards. The settlement and clearing systems of the Chinese securities markets may not be well tested and may be subject to increased risks of error or inefficiency. Securities exchanges in the PRC typically have the right to suspend or limit trading in any security traded on the relevant exchange. The government or the regulators may also implement policies that may affect the financial markets. All these may have a negative impact on the fund.

– Liquidity and volatility risk – Compared with the choice available in other markets, there is a low level of liquidity in the A-Shares and B-Shares of the PRC markets. This could potentially lead to severe price volatility.

– Currency and exchange risk – The PRC government’s control of currency conversion and exchange rates may adversely affect the operations and financial results of the companies invested in by the fund.

– PRC taxation consideration – The fund investing in securities issued by companies resident in the PRC are subject to dividend withholding tax but are not currently subject to capital gains tax in the PRC. The tax laws, regulations and practice in the PRC are inherently uncertain and liable to change without prior notice. They may also be changed with retrospective effect. The fund does not currently make any provision for Chinese capital gains tax. If appropriate, a provision may be introduced for the fund to cover capital gains tax, withholding taxes or other taxes. Consequently, investors may be advantaged or disadvantaged depending upon the final rules.


4

4. Risks related to investments via the Stock Connect

The relevant rules and regulations on Stock Connect are subject to change which may have potential retrospective effect. The Stock Connect is subject to quota limitations. Where a suspension in the trading through the programme is effected, the fund’s ability to invest in China A-shares or access the PRC market through the programme will be adversely affected. In such event, the fund’s ability to achieve its investment objective could be negatively affected.

5. Risks related to investments in China market access products

The fund may use China market access products to gain exposure to China A-Shares indirectly. This involves additional risks including lack of a secondary market in such instruments, illiquidity of the underlying securities, difficulty in selling these instruments at times when the underlying markets are closed and counterparty default risk.

6. Risks related to investments in other funds with China access

– Investing in other funds may result in additional operating fees and expenses from the underlying funds.

– The fund may invest in other funds with China access through Qualified Foreign Investor ("QFI") status. Therefore, the fund is indirectly exposed to the risks associated with the QFI regime such as suspension or revocation of the QFI status, as well as repatriation and liquidity risks.

7. Derivatives

The fund may use derivatives to meet its specific investment objective. There is no guarantee that the performance of derivatives will result in a positive effect for the fund. Derivative exposure may lead to a high risk of significant capital loss. Risks associated with derivatives include credit risk and counterparty risk, liquidity risk, valuation risk, volatility risk, over-the-counter transaction risks and hedging risk. The leverage element/component of derivatives can result in a loss significantly greater than the amount invested in the derivatives by the fund. There is no guarantee that the desired hedging instruments will be available or hedging techniques will achieve their desired result. In adverse situations, the use of hedging instruments may become ineffective in hedging and the fund may suffer significant losses.

8. Smaller companies risk

Fund invests in smaller companies may fluctuate in value more than other funds and may be more vulnerable to adverse developments than those in larger companies. During periods where markets are falling, securities of smaller companies may become less liquid and experience short-term price volatility and wide spreads between dealing prices.

9. Risks relating to distributions

– For distribution share classes with a general dividend policy, expenses will be paid out of capital rather than out of gross income. The amount of distributable income therefore increases and the amount so increased may be considered to be dividend paid out of capital; capital growth will be reduced and in periods of low growth capital erosion may occur.

– Distribution share classes with a fixed dividend policy will distribute the dividends based on a fixed amount or fixed percentage of the net asset value per share. This may result in share classes with fixed distributions either paying out both income and capital in distribution payments, or not substantially distributing all the investment income which a share class has earned.


5

– You should note that in the circumstances where the payment of distributions are paid out of capital, this represents and amounts to a return or withdrawal of part of the amount you originally invested or capital gains attributable to that and may result in an immediate decrease in the net asset value of shares.

How has the fund performed?

– Past performance information is not indicative of future performance. Investors may not get back the full amount

invested.

– The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested.

– These figures show by how much the fund’s Class A HKD Accumulation increased or decreased in value during the calendar year being shown. Performance data has been calculated in HKD including ongoing charges and excluding subscription fee and redemption fee you might have to pay.

– Target Benchmark: FTSE Hong Kong (Net TR) index

– Comparator Benchmark: Morningstar Hong Kong Equity Category

– Fund launch date: 2002

– Class A HKD Accumulation launch date: 2002

– The management company views the Class A HKD Accumulation, being the retail share class denominated in the base currency of the fund, as the most appropriate representative share class of the fund.

Note: The performance of these years was achieved under circumstances that no longer apply. During these years, there was material change(s) to the fund, namely, changes of investment objective and policy and reduction of fee(s).

Is there any guarantee? This fund does not have any guarantees. You may not get back the full amount of money you invest.

▀ Class A HKD Accumulation ▀ FTSE Hong Kong (Net TR) index

▀ Morningstar Hong Kong Equity Category

-20.

4%

26.8

%

7.5%

4.2%

-5.2

%

0.5%

51.6

%

-14.

1%

15.4

%

20.7

%

-17.

9%

30.3

%

9.4%

2.2%

-4.4

%

4.1%

37.4

%

-10.

0%

11.2

%

7.0%

-21.

2%

23.9

%

5.9%

1.6%

-5.1

%

0.7%

41.9

%

-12.

7%

12.4

%

11.2

%

-60%

-45%

-30%

-15%

0%

15%

30%

45%

60%

75%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Note


6

What are the fees and charges? Charges which may be payable by you

You may have to pay the following fees when dealing in the shares of the fund.

Fee What you pay

Share class A A1 D

Subscription fee (Initial charge) Up to 5.00% of the total subscription amount

Up to 4.00% of the total subscription amount

Nil

Switching fee (Switching charge) Up to 1.00% of the value of the shares to be switched

Redemption fee (Redemption charge) Nil

Ongoing fees payable by the fund

The following expenses will be paid out of the fund. They affect you because they reduce the return you get on your investments.

Annual rate (as a % of the fund’s value)

Share class* A A1 D

Management fee 1.50% 1.50% 1.50%

Depositary fee Up to 0.005%

Performance fee Nil

Administration fee Up to 0.25%

Distribution charge Nil 0.50% 1.00%

Custody safekeeping fee Up to 0.3%

Transaction fees (charged by the Depositary)

Up to USD75 per transaction

Fund accounting and valuation fees Up to 0.0083%

* Where currency hedged share class is offered, a hedging charge of up to 0.03% per annum of the net asset value per share will be borne by the currency hedged share class in relation to which the charge is incurred. The hedging charge will be payable to the management company, which provides the currency hedging service.

Other fees

You may have to pay other fees when dealing in the shares of the fund. Please refer to the offering document for fees payable by the fund.


7

Additional information – You generally buy and redeem shares at the fund’s relevant net asset value (“NAV”) after Schroder

Investment Management (Hong Kong) Limited receives your request, directly or via a distributor, in good order at or before 5pm HK time, being the fund’s dealing cut-off time on each dealing day of the fund. Before placing your subscription or redemption orders, please check with your distributor for the distributor’s internal dealing cutoff time (which may be earlier than the fund’s dealing cut-off time).

– A dividend calendar including details on the distribution frequency and the dividend calculation basis for all available distribution share classes and a composition of the dividend payments (i.e. the percentages of distribution being paid out of capital and net distributable income) for the last twelve months for each of these distribution share classes (i) with a variable distribution policy or (ii) with a fixed dividend policy and paying dividends out of capital are also available from the Schroder Investment Management (Hong Kong) Limited on request and from the Schroders’ Internet site (www.schroders.com.hk).

– Past performance information of other share classes offered to Hong Kong investors is available online at www.schroders.com.hk.

– The net asset value of this fund is calculated and the price of shares is published on each dealing day. They are available online at www.schroders.com.hk. This website 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 or completeness.

如欲了解有關施羅德基金的更多資料，請瀏覽： schroders.com.hk 1

重要事項

基金主要投資於香港公司的股本和股本相關證券。•基金投資股票證券涉及股票投資風險。•基金投資於集中地區及中國而須承受政治、社會和經濟、法律及監管風險、流動性及波動性風險等等。•基金投資於中國內地或會承受經互聯互通機制投資相關的風險。互聯互通機制受額度限制所限，相關規則和法例可能有所更改，並存在潛在追溯的效力。•基金可利用中國市場連接產品間接地投資於中國A股並可涉及額外風險，包括該等工具缺乏第二市場、相關證券缺乏流動性、相關市場關閉時難以出售該等工具、和對手方違約的風險。•基金可投資於衍生工具以達致投資目標。運用衍生工具可涉及較高的對手方、流通性及估值的風險。在不利的情況下，基金可能會因為使用衍生工具作對沖之用而承受重大虧損。•一般股息政策的股份類別，支出將從資本而並非總收入中支付，可分派收入因此增加，而增加的部份可被視為從資本中支付的股息。定息政策的股份類別，其股息可能同時由收入及資本中支付。從資本中支付的派息相當於從閣下原本投資的金額中，或從該等金額賺取的資本收益中退回或提取部份款項，可能導致每股資產淨值即時下跌。閣下不應僅倚賴本文件而作出任何投資決定。請詳閱有關銷售文件以得悉基金之詳情包括風險因素。

投資目標

基金旨在通過投資於香港特別行政區公司的股本和股本相關證券，以提供資本增值。

股份類別表現（累計）

表現 (%) 1個月 3個月 6個月年初至今 1年 3年 5年 10年

基金 -2.1 5.8 24.7 5.8 57.4 23.7 98.9 108.3

基準 0.7 7.9 26.4 7.9 41.6 16.4 68.8 88.1

年度表現 (%) 2016 2017 2018 2019 2020

基金 0.5 51.6 -14.1 15.4 20.7

基準 4.1 37.4 -10.0 11.2 7.0

5年表現(%)

施羅德環球基金系列香港股票港元A類別累積單位 FTSE Hong Kong TR

2016 2017 2018 2019 2020-50.0%

0.0%

50.0%

100.0%

資料來源：晨星。以資產淨值價計算，收益再投資，已扣除費用，依據施羅德環球基金系列香港股票港元A類別累積單位、港元。本基⾦表現與基準表現可能存在部分差異，這是由於基準表現不考慮非交易日。本基金之資產值已涵蓋其所有類別。投資涉及風險。單位價格可跌可升。過往表現未必可作日後業績的準則。詳情（包括風險因素）請參閱有關銷售文件。本文件由施羅德投資管理（香港）有限公司刊發並未受香港證監會檢閱。基金表現由基金單位類別推出日期起計算 (即：09.08.2002)。 ##「資本投資者入境計劃」已由二零一五年一月十五日起暫停直至另行通知為止，請查閱香港入境處網站及/或向你的金融中介機構查詢詳情。本基金基準已於02/04/2013由90% FTSE AW HK - HongKong, 10% HSBC更改為90%FTSE AW HK - Hong Kong Net, 10% HSBC，並於03/07/2017更改為FTSE Hong Kong Net。過往所有基準的全部往績俱己保存，並和新的指數串連。

基金文件

於此下載銷售文件

評級和認證

請參考資料來源與評級說明，以獲取有關圖標的詳細信息。

基金資料

基金經理 Toby Hudson基金推出日期 09.08.2002基金基本貨幣港元資產值（百萬元）港元 15,958.77持倉數量 42基準 FTSE Hong Kong TR單位資產淨值港元 586.2907最高／最低（過去十二個月）

港元 639.0023 / 港元369.8476

年度回報率（3年） 7.34%

費用和開支

首次認購費上限 5.00%管理年費 1.5%贖回費 0.00%

代碼

ISIN LU0149534421彭博代碼 SCHHEAA LX路透社代碼 LU0149534421.LUF

施羅德環球基金系列香港股票

港元A類別累積單位 | 數據截至 31.03.2021

「資本投資者入境計劃 ##」合資格基金



港元 100,000 回報

施羅德環球基金系列香港股票港元A類別累積單位 FTSE Hong Kong TR

01/-17 01/-18 01/-19 01/-20 01/-2175,000

100,000

125,000

150,000

175,000

200,000

225,000

-25.0%

0.0%

25.0%

50.0%

75.0%

100.0%

125.0%

過往表現未必可作日後業績的準則，並不一定會再次重現。投資價值及所得收益可跌亦可升，投資者未必能取回投資本金。匯率變動可能造成海外投資價值的上升或下跌。本圖表僅供參考之用，並未反映任何投資的實際回報率。回報率以資產淨值價計算（這是指業績並不包含任何首次認購費）、收益再投資、扣除費用。

風險統計數據及財務比率

基金基準

年均相對波幅 (%)（3年）

20.4 20.5

阿爾法 (%)（3年） 2.5 -

貝他（3年） 0.9 -

夏普比率（3年） 0.4 0.3

信息比率（3年） 0.3 -

市賬率 1.6 -

市盈率 21.2 -

預測跟踪誤差 8.2 -

資料來源：晨星。預測跟踪誤差來源：施羅德。上述比率以按資產淨值價計算之基金表現為基礎。上述財務比率是指基金投資組合和基準（如有提及）中所含的平均股權。

資產分佈

行業資產分佈 (%)

基金基準

非必需消費品

金融

房地產

科技

工業製造

其他

醫療保健

基本消費品

能源

流動資產

34.813.8

20.740.3

13.318.2

8.22.9

7.611.3

6.50.0

3.90.4

3.94.5

2.00.2

-0.90.0

0% 5% 10% 15% 20% 25% 30% 35% 40%

地區 (%)

基金基準

新興市場

太平洋（日本除外）

英國

其他

流動資產

51.911.6

40.683.7

4.20.0

4.24.4

-0.90.0

0% 10% 20% 30% 40% 50% 60% 70% 80%

10大主要投資 (%)

投資名稱 %

AIA Group Ltd 7.8

Tencent Holdings Ltd 6.7

Alibaba Group Holding Ltd 5.3

Techtronic Industries Co Ltd 4.2

Galaxy Entertainment Group Ltd 4.2

Haitian International Holdings Ltd 3.9

China Pacific Insurance Group Co Ltd 3.8

Hong Kong Exchanges & Clearing Ltd 3.6

Schroder Umbrella Fund II - China Equity Alpha Fund 3.3

Schroder International Selection Fund - China A 3.2






資料來源: 施羅德投資。由於四捨五入的關係，分配相加的百分比可能不等於100％。衍生工具在適用的情形下是依照標的資產之名目基礎表示。由於對各類型衍生工具的處理不同，各圖表之間對流動資產的分配可能有所差異。

可認購股份類別

港元A類別累積單位美元A類別累積單位

派息政策無派息無派息

ISIN LU0149534421 LU0607220059

彭博代碼 SCHHEAA LX SCKUAAU LX

基準和公司行動信息

推出施羅德環球基金系列香港股票基金是為了方便施羅德香港單位信託系列的股東轉讓予施羅德環球基金系列SICAV。 2017年7月3日，FTSE Hong Kong Net取代了90% FTSE AW HK - Hong Kong Net, 10% HSBC。之前指數的完整跟踪記錄已保留，並鏈接到新指數。

重要事項

* 晨星評級截至 31.03.2021：© Morningstar 2021.保留所有權利。此處包含的資訊為：（1）為晨星和/或其內容提供者所專有；（2）不得複製或流通；以及（3）並不保證是準確、完全或及時的。晨星及其內容提供者對於使用這些資訊所造成的損害或損失，概不承擔任何責任。過往表現未必可作日後業績的準則。





1

產品資料概要施羅德環球基金系列－

香港股票

發行人：Schroder Investment Management (Europe) S.A. 2021年4月

本概要提供本基金的重要資料，是銷售文件的一部分。

請勿單憑本概要作投資決定。

資料便覽

管理公司： Schroder Investment Management (Europe) S.A.

投資經理：施羅德投資管理（香港）有限公司（香港，內部委任）

存管處： J.P. Morgan Bank Luxembourg S.A.

全年經常性開支比率*： A類別（港元累積） 1.84% A類別（美元累積） 1.84%

A1類別（港元累積） 2.34% A1類別（美元累積） 2.34%

D類別（港元累積） 2.84%

交易頻密程度：每日

基本貨幣：港元

派息政策： A、A1和D累積股份類別－不會派發股息，但會將股息再投資於基金。

A、A1和D收息股份類別－董事會一般可酌情決定是否作出任何派息。

派息可從資本中扣除，從而減低基金的資產淨值。

財政年終結日： 12月31日

最低投資額： A、A1和D股份類別：首次投資－1,000歐元或1,000美元（或其等值）；額外認購－1,000歐元或1,000美元（或其等值）

* 全年經常性開支比率是根據截至2020年12月31日的年度費用計算，每年均可能有所變動。

本基金是什麼產品？

基金為施羅德環球基金系列旗下的一項子基金，施羅德環球基金系列以互惠基金形式在盧森堡成立，監管機構為盧森堡金融業管理局(Commission de Surveillance du Secteur Financier)。

施羅德環球基金系列－香港股票

2

目標及投資策略

投資目標

基金旨在通過投資於香港特別行政區公司的股本和股本相關證券，在三年至五年期內扣除費用後提供超過FTSE Hong Kong (Net TR) index註的資本增值。

投資政策

基金被積極管理及將最少三分之二的資產投資於香港特別行政區公司的股本和股本相關證券。

基金可直接投資於中國B股和中國H股，亦可將少於30%的資產（以淨額計算）直接通過互聯互通機制（定義如下）或間接（通過衍生工具）投資於中國A股。

基金對於其可投資的公司的市值不受任何限制。

基金亦可將不多於三份之一資產直接或間接投資於其他證券（包括其他資產類別）、國家、地區、行業或貨幣、投資基金、認股證及貨幣市場投資項目，和持有現金。

基金可經滬港股票市場交易互聯互通機制及深港股票市場交易互聯互通機制（統稱「互聯互通機制」，詳述於香港說明文件標題為「互聯互通機制」一節）直接投資於中國A股。基金亦可透過投資於金融工具（例如中國市場連接產品）以及其他透過合格境外投資者資格投資於中國的基金，尋求間接投資於中國A股。基金目前不擬將基金資產淨值的30%或以上直接及間接投資於中國A股及中國B股。

在特殊情況下（例如：股災或重大危機），基金可暫時將其最多100%的資產淨值投資於諸如銀行存款、存款證、商業票據及國庫券等流動資產作現金流管理。

基金可為減低風險或更有效地管理基金而運用衍生工具，例如透過股票、貨幣、波動性或指數相關金融衍生工具，包括場外交易及／或交易所買賣的期權、期貨、差價合約、認股證、掉期、遠期合約，及／或以上組合，運用衍生工具投資於市場。

註為清晰說明，這意即在扣除費用後，超過該指數的中長期回報。三年至五年期被視為中長期，亦為投資者評估基金表現的期間。

基準

基金的表現應按其目標基準評估，即超過FTSE Hong Kong (Net TR) index（「目標基準」）及與Morningstar Hong Kong Equity Category （「比較基準」）作比較。基金的投資領域預期與目標基準的成份有有限範圍的重疊。比較基準只作比較表現用途，並不影響投資經理如何投資基金資產。

衍生工具的運用／投資於衍生工具

基金的衍生工具風險承擔淨額可達至基金資產淨值的50%。


3

本基金有哪些主要風險？

投資涉及風險。請參閱銷售文件，了解風險因素等資料。

1. 股票投資風險

基金於股本證券的投資，須承受股票市值可跌可升的風險。影響股價的因素很多，例如投資情緒、政治環境和經濟環境的改變、發行商特定因素、區域性或環球性的經濟不穩、貨幣和利率的浮動。如股價下跌，基金的資產淨值亦可能受負面影響。

2. 集中地理地區

基金投資於集中地理地區或會承受較投資於採用較多元化的投資組合╱策略的基金為高的風險。基金的價值可能較容易受影響著相關地理地區的不利經濟、政治、政策、外匯、流動性、稅務、法律或監管事件所影響。

3. 投資於中華人民共和國（「中國」）的風險

投資於中國內地證券市場須承受中國市場特有的風險包括內地的政治、社會或經濟政策變動的風險、流動性及波動性風險、貨幣及匯率風險。

－政治、社會或經濟政策變動的風險－投資於中國會因內地的政治、社會或經濟政策的任何重大變動而易生波動，或會對資本增長及基金表現有不利影響。

－法律及監管風險－與已發展國家相比，中國的資本市場及聯合股份制公司的監管及法律架構尚未完善。中國公司須依從中國會計標準及慣例，而中國會計標準及慣例可能與國際會計標準有顯著的偏差。中國證券市場的結算和清算制度未必經充分的測試，所以可能會增加錯誤或缺乏效率的風險。中國的證券交易所通常有權暫停或限制任何證券在相關交易所的交易。政府或監管機關實施的政策亦可能影響金融市場。所有此等因素可能對基金有負面的影響。

－流動性及波動性風險－與其他市場的選擇相比，中國A股和B股市場的流通性低，這可能導致價格大幅波動。

－貨幣及匯率風險－中國政府的貨幣匯兌限制及匯率走勢可能會對有關基金所投資的公司的運作及財政業績有負面影響。

－中國稅務考慮－基金投資於中國公司發行的證券須為股息繳付預扣稅，但現時毋須繳付中國的資本增益稅。中國的稅法、法規和慣例本身並不清晰，有可能在沒有事先通知的情況下變更，而且可能具追溯效力。現時基金沒有為中國的資本增益稅作出任何撥備。如合適，可以為基金的資本增益稅、預扣稅或其他稅項作出撥備。所以，視乎最終的稅務規則，該等撥備對投資者而言可能是有利或不利。


4

4. 經互聯互通機制投資相關的風險

有關互聯互通機制的規則和規例或會更改，並可能潛在追溯效力。互聯互通機制受額度限制所限。當通過機制的交易被暫停，基金經機制投資於中國A股或進入中國市場的能力將會受到不利影響。在該情況下，基金達致其投資目標的能力可受負面影響。

5. 與投資於中國市場連接產品相關的風險

基金可利用中國市場連接產品間接地投資於中國A股。此做法涉及額外風險，包括該等工具缺乏第二市場、相關證券缺乏流動性、相關市場關閉時難以出售該等工具、和對手方違約的風險。

6. 與投資於連接中國的其他基金相關的風險

－投資於其他基金可能導致相關基金產生額外營運費用和支出。

－基金可投資於透過合格境外投資者（「QFI」）資格投資於中國的其他基金。因此，基金間接承受與QFI機制相關的風險。該等風險包括QFI資格被暫停或取消，以及資金匯回和流動性風險。

7. 衍生工具

基金可投資於衍生工具以達致特定投資目標。不保證該等衍生工具的表現會為該基金帶來正面影響。投資於衍生工具或須承受高度的資本虧損風險。涉及衍生工具的風險包括信貸風險和對手方風險、流動性風險、估值風險、波動性風險、場外交易市場交易風險，以及對沖風險。衍生工具的槓桿元素／成份可導致虧損顯著多於基金投資於衍生工具的金額。基金不保證市場能提供理想的對沖工具，或對沖技術可以達到預期效果。在不利的情況下，基金使用的對沖工具可能無效，並可能因而蒙受重大虧損。

8. 小型公司風險

相對其他基金，投資於小型公司的基金價值波動可能較大，以及可能比投資於大型公司更容易受不利發展所影響。在跌市時，小型公司的證券會變得流動性較低，價格可於短期內大幅波動，且買賣差價大。

9. 有關派息的風險

－就採取一般派息政策的收息股份類別而言，支出將從資本（非收入）中支付，可分派收入因此而增加，而增加的部份可被視為從資本中支付的股息。資本增長將減慢，在低資本增長時期或會出現資本侵蝕。

－採取固定派息政策的收息股份類別將基於一個固定金額或每股資產淨值的一個固定百分比派息。因此，派發固定股息之股份類別，其股息款項可能同時由收入及資本中支付，或未必將股份類別賺到的大部份投資收入完全派發。


5

－閣下應注意從資本中支付的派息，即相當於從閣下原本投資的金額中，或從該等金額賺取的任何資本收益中退回或提取部份款項，所以，該等派息可能導致每股資產淨值即時下跌。

本基金過往的業績表現如何？

－往績並非預測日後業績表現的指標。投資者未必能取回全部投資本金。

－基金業績表現以歷年末的資產淨值作為比較基礎，股息會滾存再作投資。

－上述數據顯示基金的A類別（港元累積）總值在有關曆年內的升跌幅度。業績表現以港元計算，當中反映出基金的持續費用，但不包括基金可能向閣下收取的認購費及贖回費。

－目標基準：FTSE Hong Kong (Net TR) index

－比較基準：Morningstar Hong Kong Equity Category

－基金發行日：2002

－ A類別（港元累積）發行日：2002

－管理公司視A類別（港元累積）（即以基金的基本貨幣計值的零售股份類別）為基金的最適合代表股份類別。

註：這些年度的業績表現乃在不再適用的情況下取得的。在這些年度，基金出現重大變更，即投資目標及政策變更和費用下調。

本基金有否提供保證？

本基金並不提供任何保證。閣下未必能取回投資本金。

▀ A 類別（港元累積） ▀ FTSE Hong Kong (Net TR) index

▀ Morningstar Hong Kong Equity Category

-20.

4%

26.8

%

7.5%

4.2%

-5.2

%

0.5%

51.6

%

-14.

1%

15.4

%

20.7

%

-17.

9%

30.3

%

9.4%

2.2%

-4.4

%

4.1%

37.4

%

-10.

0%

11.2

%

7.0%

-21.

2%

23.9

%

5.9%

1.6%

-5.1

%

0.7%

41.9

%

-12.

7%

12.4

%

11.2

%

-60%

-45%

-30%

-15%

0%

15%

30%

45%

60%

75%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

註


6

投資本基金涉及哪些費用及收費？

閣下或須繳付的收費

基金股份交易或須繳付以下費用。

費用金額

股份類別 A A1 D

認購費（首次認購費）以認購總金額之5.00% 為上限

以認購總金額之4.00% 為上限

無

轉換費不多於轉換股份價值的1.00%

贖回費無

基金持續繳付的費用

以下收費將從基金總值中扣除，閣下的投資回報將會因而減少。

每年收費率（佔基金總值百分比）

股份類別* A A1 D

管理費 1.50% 1.50% 1.50%

存管費不多於0.005%

業績表現費（表現費）無

行政費不多於0.25%

分銷費無 0.50% 1.00%

保管服務費不多於0.3%

交易費用（由存管處徵收）每宗交易不多於75美元

會計及估值服務費不多於0.0083%

* 如發售貨幣對沖股份類別，年率最高達每股資產淨值0.03%的對沖費將由招致有關費用的貨幣對沖股份類別承擔。對沖費將支付給提供貨幣對沖服務的管理公司。

其他費用

閣下進行基金股份交易或須繳付其他費用。有關由基金繳付的費用，請參閱銷售文件。


7

其他資料

－施羅德投資管理（香港）有限公司在基金每個交易日交易截止時間（即香港時間下午5時正）或之前直接或經配售商收妥的認購或贖回要求，一般按隨後釐定的基金相關資產淨值執行。閣下作出認購或贖回指示前，請向閣下的配售商查問其內部的交易截止時間，因其交易截止時間可能會較基金的為早。

－列載所有可供認購之收息股份類別的派息次數和計算股息基準的股息一覽表，以及採取(i)不固定派息政策或(ii)固定派息政策並從資本中支付股息之各收息股份類別過去12個月的股息成份（即從資本和可分派淨收入支付派息的百份比），可向施羅德投資管理（香港）有限公司索取及瀏覽施羅德網站(www.schroders.com.hk)。

－供香港投資者認購的其他股份類別的業績表現上載至網站www.schroders.com.hk。

－基金在每一交易日計算基金資產淨值及刊登股份價格，並上載至網站www.schroders.com.hk。該網站未經證監會審閱。

重要提示

閣下如有疑問，應諮詢專業意見。證監會對本概要的內容並不承擔任何責任，對其準確性或完整性亦不作出任何陳述。

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