HSBC GIF Global Equity Clmt Solu IDGBP 

The sub-fund aims to provide long term total return by investing in companies that may benefit from the transition to a low carbon economy. The sub-fund aims to do this with a lower carbon intensity and a higher environmental, social and governance (“ESG”) rating, calculated respectively as a weighted average of the carbon intensities and ESG ratings given to the issuers of the sub-fund’s investments, than the weighted average of the constituents of the MSCI AC World Net index. The sub-fund invests in normal market conditions a minimum of 70% of its net assets in equities and equity equivalent securities of companies with revenue exposure to climate transition themes (“Climate Transition Themes”) which are domiciled in, based in, carry out business activities in, or are listed on a Regulated Market in, any country including both developed markets and Emerging Markets. The sub-fund may also invest in eligible closed-ended Real Estate Investment Trusts (“REITs”).