HSBC MSCI Pacific ex Japan 

The investment objective of the Fund is to replicate the performance of the MSCI Pacific ex Japan 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 companies in Australia, Hong Kong, Singapore and New Zealand, as defined by the Index Provider. 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.