HSBC MSCI MALAYSIA UC. 

The investment objective of the Fund is to replicate the performance of the MSCI Malaysia Index (the ?Index?), while minimizing as far as possible the tracking error between the Fund?s performance and that of the Index. The Index is a market-capitalization weighted index designed to measure the performance of the largest publicly listed companies in Malaysia, as defined by the Index Provider. Malaysian equity markets are considered to be emerging markets and accordingly, are subject to the specific risk factors. In seeking to achieve its investment objective, the Fund will aim to invest in the constituents of the Index in generally the same proportions in which they are included in the Index.