Why we believe in value

The value of an investment in the portfolios and any income from them can go down as well as up and as with any investment you may not receive back the amount originally invested.

• Capital loss risk: It is important to remember that the value of investments and any income from them can go down as well as up and is not guaranteed
• Discretionary Management: Discretionary management is based on anticipating the evolution of different markets and securities. There is a risk that the fund will not be invested at any time in the most efficient markets and securities
• Equity risk: Funds that invest in securities listed on a stock exchange or market could be affected by general changes in the stock market. The value of investments can go down as well as up due to equity markets movements

This presentation is distributed by HSBC Asset Management and is only intended for professional investors as defined by MIFID.The information contained herein is subject to change without notice. All non-authorised reproduction or use of this commentary and analysis will be the responsibility of the user and will be likely to lead to legal proceedings. This document has no contractual value and is not by any means intended as a solicitation, nor a recommendation for the purchase or sale of any financial instrument in any jurisdiction in which such an offer is not lawful.

The commentary and analysis presented in this document reflect the opinion of HSBC Asset Management on the markets, according to the information available to date. They do not constitute any kind of commitment from HSBC Asset Management.

If necessary, investors can refer to the complaints handling charter available in the banner of our website.

Please note that the distribution of the product can stop at any time by decision of the management company.

Tax treatment depends on The individual circumstances of each client and may be subject to change in The future. Capital is not guaranteed. It is important to remember that the value of investments and any income from them can go down as well as up and is not guaranteed.

Consequently, HSBC Asset Management will not be held responsible for any investment or disinvestment decision taken on the basis of the commentary and/or analysis in this document. All data from HSBC Asset Management unless otherwise specified. Any third party information has been obtained from sources we believe to be reliable, but which we have not independently verified. The capital is not guaranteed.

Investment involves risks. Past performance is not indicative of future performance. Future returns will depend inter alia on market developments, the fund manager’s skill, the fund’s level risk and management costs and if applicable subscription and redemption costs. The return, the value of money invested in the fund may become negative as a result of price losses and currency fluctuations. There is no guarantee that all of your invested capital can be redeemed. Unless stated otherwise, inflation is not taken into account.

HSBC GIF Euroland Value is a sub fund of HSBC Global Investment Funds, a Luxemburg domiciled SICAV. Before subscription, investors should refer to Key Information Document (KID) of the fund as well as its complete prospectus. For more detailed information on the risks associated with this fund, investors should refer to the complete prospectus of the fund. The shares of HSBC Global Investment Funds have not been and will not be offered for sale or sold in the United States of America, its territories or possessions and all areas subject to its jurisdiction, or to United States Persons.

Tax on Stock Exchange transactions: this tax ("taxe sur les opérations de bourse" or "TOB") is due by Belgian resident taxpayers on redemptions and conversions (i.e. share/unit classes switch) related to capitalisation shares of investment companies (i.e. funds with legal personality such as SICAVs) that are registered with the FSMA. In such cases, the applicable TOB rate is 1,32 per cent (with a maximum amount of EUR 4,000 per transaction). The TOB is also due on secondary market transactions (i.e. purchases and sales) of distributing and capitalising shares and units of ETFs and trackers established as investment companies or on a contractual funds. In these cases, the TOB may be due at the rate of 0.12 per cent (cap: EUR 1,300), 0.35 per cent (cap: EUR 1,600) or 1.32 per cent (cap: EUR 4,000) depending on the features of the Fund. Belgian savings tax: Individual investors will subject to 30 per cent withholding tax on the distribution of dividends (distribution share) and / or the capital gain generated on the sale shares (capitalization share and / or distribution) of the Fund :

•having more than 25 per cent of receivables in the portfolio for the shares acquire before January 1, 2018
•having more than 10 per cent of receivables in the portfolio if the units have been acquired from January 1, 2018

© Copyright 2023 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information

Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain for making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided as an "as is" basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively 'the MSCI Parties') expressly disclaims all warranties((including, without limitation, all warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.mscibarra.com). If you have any doubts about the suitability of this investment, you should contact an independant financial adviser.

HSBC Asset Management is the brand name for the asset management business of HSBC Group, which includes the investment activities provided through our local regulated entities.

HSBC Global Asset Management (France) - 421 345 489 RCS Nanterre.

Portfolio management company authorised by the French regulatory authority AMF (no. GP99026) with capital of 8.050.320 euros, in Italy, Spain and Sweden through the Milan, Madrid and Stockholm branches of HSBC Global Asset Management (France), regulated respectively by Banca d’Italia and Commissione Nazionale per le Società e la Borsa (Consob) in Italy, the Comisión Nacional del Mercado de Valores (CNMV) in Spain and the Swedish Financial Supervisory Authority (Finansinspektionen) in Sweden.

Postal address : 38 avenue Kléber 75116 PARIS

Head Office : Immeuble Coeur Défense - 110 esplanade du Général de Gaulle - La Défense 4 - 92400 Courbevoie - France

www.assetmanagement.hsbc.fr

HSBC Global Asset Management (Switzerland) Ltd. having its registered office at Gartenstrasse 26, PO Box, CH-8002 Zurich has a licence as an asset manager of collective investment schemes and as a representative of foreign collective investment schemes. Disputes regarding legal claims between the Client and HSBC Global Asset Management (Switzerland) Ltd. can be settled by an ombudsman in mediation proceedings. HSBC Global Asset Management (Switzerland) Ltd. is affiliated to the ombudsman FINOS having its registered address at Talstrasse 20, 8001 Zurich. There are general risks associated with financial instruments, please refer to the Swiss Banking Association (“SBA”) Brochure “Risks Involved in Trading in Financial.

Non contractual document, updated in: September 2023

Copyright © 2023, HSBC Global Asset Management (France). All rights reserved.

 

Article 8 SFDR =The product promotes environmental or social characteristics, or a combination of those characteristics, provided that the companies in which the investments are made follow good governance practices.

Pursuant to AMF Doctrine 2020-03, this product is not classified. Any communication aimed at non-professional investors must state the following: “investors should note that, relative to the expectations of the Autorité des Marchés Financiers, this fund presents disproportionate communication on the consideration of non-financial criteria in its investment policy.”

In any case, marketing communication shared with non-professional clients will have to be adapted to meet AMF guidelines for retail communications.

Important information for Luxembourg investors: HSBC entities in Luxembourg are regulated and authorized by the Commission de Surveillance du Secteur Financier (CSSF).

Important information for Swiss investors: This material is exclusively intended towards professional investors within the meaning of Art. 4 para 3 letter a – g of the Swiss Financial Services Act (FinSA). It is not intended towards professional clients who are not institutional clients according to Art. 4 para 4 FinSA and who wish to declare to be treated as retail clients according to Art. 5 para 5 FinSA (opting in). There are further possibilities with regards to opting in and opting out according to FinSA, please refer to our website at https://www.assetmanagement.hsbc.ch if you wish to change your client categorization, please inform us.

HSBC Global Investment Funds are authorized for offering in Switzerland in the meaning of Art. 120 of the Swiss Federal Collective Investment Schemes Act (CISA). (Potential) investors are kindly asked to consult the latest issued Key Information Document (KID), prospectus, articles of incorporation and the (semi-)annual report of the fund which may be obtained free of charge at the head office of the representative: HSBC Global Asset Management (Switzerland) Ltd., Gartenstrasse 26, P.O. Box, CH-8002 Zurich. Paying agent: HSBC Private Bank (Suisse) S.A., Quai des Bergues 9-17, P. O. Box 2888, CH-1211 Geneva 1. Investors and potential investors should read and note the risk warnings in the prospectus and relevant KID. Before subscription, investors should refer to the prospectus for general risk factors and to the KID for specific risk factors associated with this fund. Issue and redemption expenses are not taken into consideration in the calculation of performance data.

The fund presented in this document is a sub-fund of HSBC Global Investment Funds, an investment company constituted as a société à capital variable domiciled in Luxemburg. The shares in HSBC Global Investment Funds have not been and will not be registered under the US Securities Act of 1933 and will not be sold or offered in the United States of America, its territories or possessions and all areas subject to its jurisdiction, or to United States Persons.

Past performance is no indication to future results of a fund. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units. This material is classified as advertising according to FinSA.

Sweden

Past performance is no guarantee for future returns. The value of the money invested in the fund can increase or decrease and there is no guarantee that all of your invested capital can be redeemed.

Norway

The HGIF Euroland Value fund is registered for marketing in Norway pursuant to the UCITS Directive, as implemented in Norway. The fund has been notified the Norwegian Financial Supervisory Authority (Nw: Finanstilsynet) in accordance with section 9-3 of the Norwegian Securities Funds Act of 2011.

Denmark

"The Danish Financial Supervisory Authority has received proper notification of the marketing of units or shares in The HGIF Euroland Value fund to investors in Denmark in accordance with the Danish Investment Associations Act and the executive orders issued pursuant thereto. This deck does not constitute a prospectus under Danish securities law and consequently has not been filed with, nor is approved by, the Danish Financial Supervisory Authority. Any resale of units or shares in [UCITS Fund's name] to investors in Denmark will constitute a separate offer of the units or shares under Danish securities law, including its prospectus regulation, and accordingly such resale must either (i) not constitute a public offering of securities in Denmark or the admission of securities to trading on a regulated market within the meaning of the Danish Capital Markets Act or any executive orders issued pursuant thereto, or (ii) only be completed in reliance on one or more of the exemptions from the requirement to prepare and publish a prospectus in the Danish Capital Markets Act or any executive orders issued pursuant thereto.“

Finland

The shares in the HGIF Euroland Value fund may not be marketed, offered or sold, directly or indirectly, to any resident of the Republic of Finland or in the Republic of Finland, except pursuant to applicable Finnish laws and regulations. Specifically, the units in the [Fund] may not be marketed, offered or sold, directly or indirectly, to the public in the Republic of Finland, except pursuant to the Finnish Act on Common Funds (213/2019, as amended), the Finnish Act on Alternative Investment Fund Managers (162/2014, as amended) or the Finnish Securities Market Act (746/2012), as amended. This HGIF Euroland Value fund Memorandum is strictly for private use by its recipients and may not be passed on to third parties or otherwise distributed publicly. This HGIF Euroland Value fund memorandum has not been approved by the Finnish Financial Supervisory Authority.

HSBC GIF Euroland Value is a sub fund of HSBC Global Investment Funds, a Luxemburg domiciled SICAV. Before subscription, investors should refer to Key Information Document (KID) of the fund as well as its complete prospectus. For more detailed information on the risks associated with this fund, investors should refer to the complete prospectus of the fund. The shares of HSBC Portfolios have not been and will not be offered for sale or sold in the United States of America, its territories or possessions and all areas subject to its jurisdiction, or to United States Persons. Shares of the Company may not be offered or sold for sale or sold to any "U.S. Person within the meaning of the Articles of Incorporation, i.e. a citizen or resident of the United States of America (the "United States"), a partnership organized or existing under the laws of any state, territory or possession of the United States, or a corporation organised or existing under the laws of the United States or of any state, territory or possession thereof, or any estate or trust, other than an estate or trust the income of which from sources outside the United States is not includible in gross income for purposes of computing United States income tax payable by it.

All data from HSBC Asset Management unless otherwise specified. Any third party information has been obtained from sources we believe to be reliable, but which we have not independently verified.

Tax treatment depends on The individual circumstances of each client and may be subject to change in The future. Capital is not guaranteed. It is important to remember that the value of investments and any income from them can go down as well as up and is not guaranteed.