Infrastructure Equity

Risk Considerations. There is no assurance that a portfolio will achieve its investment objective or will work under all market conditions. The value of investments may go down as well as up and you may not get back the amount originally invested. Portfolios may be subject to certain additional risks, which should be considered carefully along with their investment objectives and fees.

Further information on the potential risks can be found in the Key Information Document (KID) and/or the Prospectus or Offering Memorandum.

• Equity Risk. Portfolios 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.
• Interest Rate Risk. As interest rates rise debt securities will fall in value. The value of debt is inversely proportional to interest rate movements.
• Concentration Risk. The Fund may be concentrated in a limited number of securities, economic sectors and/or countries. As a result, it may be more volatile and have a greater risk of loss than more broadly diversified funds.
• Counterparty Risk. The possibility that the counterparty to a transaction may be unwilling or unable to meet its obligations.
• Derivatives Risk. Derivatives can behave unexpectedly. The pricing and volatility of many derivatives may diverge from strictly reflecting the pricing or volatility of their underlying reference(s), instrument or asset.
• Emerging Markets Risk. Emerging markets are less established, and often more volatile, than developed markets and involve higher risks, particularly market, liquidity and currency risks.
• Exchange Rate Risk. Changes in currency exchange rates could reduce or increase investment gains or investment losses, in some cases significantly.
• Investment Leverage Risk. Investment Leverage occurs when the economic exposure is greater than the amount invested, such as when derivatives are used. A Fund that employs leverage may experience greater gains and/or losses due to the amplification effect from a movement in the price of the reference source.
• Liquidity Risk. Liquidity Risk is the risk that a Fund may encounter difficulties meeting its obligations in respect of financial liabilities that are settled by delivering cash or other financial assets, thereby compromising existing or remaining investors.
• Operational Risk. Operational risks may subject the Fund to errors affecting transactions, valuation, accounting, and financial reporting, among other things.
• Style Risk. Different investment styles typically go in and out of favour depending on market conditions and investor sentiment.
• Model Risk. Model risk occurs when a financial model used in the portfolio management or valuation processes does not perform the tasks or capture the risks it was designed to. It is considered a subset of operational risk, as model risk mostly affects the portfolio that uses the model.

For Professional Clients only and should not be distributed to or relied upon by Retail Clients.

Issued and approved by HSBC Global Asset Management (France)

This document 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. 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.

HSBC GIF Global Infrastructure Equity is a sub fund of HSBC Global Investment Funds, a Luxemburg domiciled SICAV.

Before subscription, investors should refer to Key Investor 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.

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 even if this is not its central point, or the central point of the investment process. More information on our ‘Responsible Investment’ Policy and ‘Implementation Procedures’ can be found on our website. The decision to invest in the promoted fund should take into account all the characteristics or objectives of the promoted fund as described in its prospectus.

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.

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