Eastspring Investments - Asia Real Estate Multi Asset Income Fund - ADM

• Eastspring Investments – Asia Real Estate Multi Asset Income Fund is referred to as the ‘Fund’.
• The Fund’s investments may be adjusted from time to time and greater transaction costs may be incurred than a fund with static allocation strategy.
• The Fund invests in real estate investment trusts and securities of property related companies, which are subject to the cyclical nature of the real estate market, changes in interest rates, the local and global economy, other real estate capital market factors, and government policies and other related risks.
• Although the Fund will generally invest in income-producing securities, not all underlying investments will generate income.
• The Fund invests in equities and equity-related securities and is exposed to the risk of market price fluctuations.
• The Fund invests in fixed income/debt securities and is subject to interest rate fluctuation and exposed to credit default, valuation and credit rating risks as well as credit risk of the counterparties with which it trades and sovereign debt risk. Pertaining to investments in high yield/unrated/non-investment grade fixed income/debt securities /non-investment grade sovereign fixed income/debt securities, these securities may be subject to higher credit risks and liquidity risks, compared with investment grade fixed income/debt securities, with an increased risk of loss of investments. Investment grade fixed income/debt securities are subject to the risks of credit rating downgrades.
• The Fund invests in convertible bonds which may be exposed to equity movement and greater volatility than straight bond investments.
• The Fund invests in securities of small-capitalisation/ mid-capitalisation companies which may have lower liquidity and their prices are more volatile in adverse economic developments than those of larger capitalisation companies in general.
• The Fund invests primarily in the Asia Pacific ex Japan Region and may be more volatile than a diversified fund.
• The Fund may invest in China A-shares via the Shanghai-Hong Kong Stock Connect and/or Shenzhen-Hong Kong Stock Connect, and Chinese debt securities on China interbank bond market (“CIBM”) via CIBM Direct Access Program and/or Bond Connect and may be exposed to risks relating to these channels. Such investments may be exposed to risks associated with RMB currency and conversion, tax rule and practices as well as high volatility and exchange policies of the Chinese equity market.
• The Fund’s investment in emerging markets subject it to greater political, tax, economic, foreign exchange, liquidity and regulatory risks.
• The Fund’s investments in debt securities in Asian Pacific ex-Japan markets may be subject to higher volatility and lower liquidity compared to more developed markets. The prices of securities traded in such markets may be subject to fluctuations. The Fund may incur substantial losses if it is unable to sell those investments with liquidity risks at opportune times or prices.
• The Fund may invest in securities denominated in currencies other than the Fund’s base currency and may be exposed to currency and exchange rates risk.
• The Fund may use financial derivatives instruments (FDIs) for hedging and efficient portfolio management purposes. Using FDIs may expose the Fund to market risk, management risk, credit risk, counterparty risk, liquidity risk, volatility risk, operational risk, leverage risk, valuation risk and over-the-counter transaction risk. The use of such instruments may be ineffective and the Fund may incur significant losses.
• The Fund's Board of Directors may, at its discretion, pay dividends out of capital or gross income while charging all or part of the fees and expenses to the Fund’s capital, resulting in higher distributable income. Thus, the Fund may effectively pay dividends out of capital. Payment of dividends out of capital (effectively or not) amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment, which may result in an immediate reduction of the net asset value per share.
• Investment involves risk. Investors should not rely solely on this document in making investment decision. Past performance information presented is not indicative of future performance.

The Sub-Fund aims to maximize total returns with an income payout focus over the medium to long term through the implementation of an actively managed investment strategy investing primarily in a diversified range of equities, listed Real Estate Investment Trusts (“REITs”)+ , equity-related securities, bonds and other collective investment schemes (including sub-funds of the SICAV) related to real estate and/or infrastructure companies, which are incorporated, listed in or have their area of primary activity in the Asia Pacific ex-Japan Region.

The Sub-Fund may also invest in depositary receipts, including ADRs and GDRs, debt securities convertible into common shares, preference shares and warrants. ADRs and GDRs that the Sub-Fund may invest in will not have embedded derivatives. The underlying REITs may not necessarily be authorised by the SFC.