Change of investment policy and objective - HSBC GIF Russia fund

Summary and impact of the changes: 

The board of directors of HSBC Global Investment Funds ("GIF") have decided to change the investment policy and objective of the HSBC GIF Russia Equity fund with effect from 28 May 2018. 

All changes are reflected in an updated version of the Prospectus, which is available, free of charge, upon request from HSBC Investment Funds (Luxembourg) S.A. (the "Management Company"). 

HSBC have confirmed that the changes will not impact the number of shares held, the risk profile of the fund and the level of fees charged to shareholders. 

Investment Objective and Policy 

Until 27 May 2018 

The aim is to provide capital growth of investor's investment over time. 

The fund will invest primarily in equity securities (shares) or similar securities of companies of Russia. This means companies based in Russia or companies, from any country, but which carry out most of their business in Russia. 

The fund may invest in a smaller number of securities relative to other funds. The fund may invest in companies of any size. The fund may invest up to 10% of its assets in other open-ended funds, including other funds of HSBC. The fund may use derivatives for hedging or cash flow management purposes. 

The fund is actively managed and does not track a benchmark. Consideration may be given to a reference benchmark when selecting investments. The reference benchmark for the fund is MSCI Russia 10/40 Net. 

Investment Objective and Policy 

From 28 May 2018 

The sub-fund aims to provide long term total return by investing in a concentrated portfolio of Russian equities. 

The sub-fund invests in normal market conditions a minimum of 90% of its net assets in equities and equity equivalent securities of companies which are domiciled in, based in, carry out the larger part of their business activities in, or are listed on a Regulated Market in, Russia. 

The sub-fund normally invests across a range of market capitalisations without any capitalisation restriction. The sub-fund may invest up to 10% of its net assets in units or shares of UCITS and/or other Eligible UCIs (including other sub-funds of HSBC Global Investment Funds). 

The sub-fund may use financial derivative instruments for hedging and cash flow management (for example, Equitisation). However, the sub-fund will not use financial derivative instruments extensively for investment purposes. The financial derivative instruments the sub-fund is permitted to use include, but are not limited to, futures and foreign exchange forwards (including non-deliverable forwards). Financial derivative instruments may also be embedded in other instruments in which the sub-fund may invest. 

There is no action required from shareholders of the fund. The shareholder notification from HSBC in relation to the changes can be viewed opposite. 

_______________________________________________________________________ 

For more information about HSBC Global Investment Funds visit www.global.assetmanagement.hsbc.com