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ESG Investment

Hang Seng Asian Growth and Income Fund

(Capitalised terms used herein but not otherwise defined will have the same meanings as defined in the Explanatory Memorandum of the Hang Seng Investment Series (the “Series”) and the Term Sheet of the Fund)

  • Hang Seng Asian Growth and Income Fund (the "Fund") invests primarily in a balanced portfolio consisting of equity and debt securities issued in the debt and securities markets in the Asia Pacific region (excluding Japan).
  • The asset allocation of the Fund is determined by the Manager and depends on the views of the Manager on fundamental economic and market conditions and investment trends across the globe. The dynamic asset allocation may not achieve the desired results under all circumstances and market conditions. The investments of the Fund may be periodically rebalanced and therefore the Fund may incur greater transaction costs than a fund with static allocation strategy.
  • The Fund is also subject to investment risks, equity market risks, risks associated with investing in fixed income instruments, risks of investing in other collective investment schemes, general risks of investments associated with an emerging market, concentration risk, general risks of investments associated with investments in the PRC, RMB currency and conversion risks, currency and exchange rate control risk and Risks for Funds which invest in Derivatives.
  • The Fund may generate additional income by collecting option premium from writing (selling) Call Options. These limits the Fund’s exposure to potential capital growth of the referenced securities to the strike price thereby limiting the overall return of the Fund.
  • The Manager may at its discretion pay dividend out of capital or effectively out of the capital of the Fund. Any such distributions may result in an immediate reduction in the Net Asset Value per Unit.
  • Investments involve risks and investors may lose substantial part of their investment in the Fund.

Investors should not only base on this material alone to make investment decisions, but should read the Fund’s Term Sheet, Product Key Facts Statements and the Explanatory Memorandum of the Series (including the full text of the risk factors stated therein) (collectively “Offering Documents”) in detail. If investors have any doubts about the contents of this material or about the Offering Documents, they should consult their investment adviser and obtain independent professional advice.

Why Choose Hang Seng Asian Growth and Income Fund?

Captures Growth Opportunities in Asia

Adopts Flexible Options Strategy

Offers Diversified Sources of Income

What is Hang Seng Asian Growth and Income Fund?

Invest in
Asian Equities

Invest in
Asian Equities

Primarily growth stocks, complemented by high-dividend stocks

+

Invest in
Asian Bonds

Invest in
Asian Bonds

High quality bonds

+

Write
Call Options

Write
Call Options

Enhanced Income

Writing call options may limit the Fund’s potential upside
Hang Seng Asian Growth and Income Fund1

Captures Growth Opportunities in Asia

Asian equities offer multiple growth concepts

Key Growth Concepts in Major Asian Markets

Adopts Flexible Options Strategy

Obtaining premiums through writing index call options can help to enhance portfolio income and reduce volatility

Three considerations:

Market outlook
Option yield
Option liquidity

Decide whether to write call options

Benefits:

Enhanced income

Reduced volatility

Writing call options may limit the Fund’s potential upside

Offers Diversified Sources of Income

The Fund's income primarily comes from bond coupons, stock dividends and option premiums collected from writing call options, thus providing investors with diversified source of income.

Portfolio Information 2

Geographical Breakdown

Equity
Bond
Total
Mainland China
16.1%
5.4%
21.5%
South Korea
8.7%
5.9%
14.6%
Taiwan
13.2%
0.9%
14.1%
India
9.2%
2.7%
11.9%
Australia
7.1%
2.7%
9.8%
Other Countries
2.3%
6.8%
9.1%
Hong Kong
1.8%
5.1%
6.9%
Singapore
3.4%
0.3%
3.7%
Indonesia
0.3%
2.3%
2.6%
Cash and Others
5.9%
Total
62.0%
32.1%
100%

Sector Breakdown

Equity
Bond
Total
Information Technology
20.9%
3.2%
24.1%
Financials
14.4%
9.1%
23.5%
Consumer Discretionary
7.3%
4.5%
11.8%
Communications Services
7.1%
3.0%
10.1%
Industrials
5.5%
0.8%
6.3%
Real Estate
1.9%
2.1%
4.0%
Materials
2.3%
1.7%
4.0%
Energy
0.9%
3.1%
4.0%
Utilities
0.0%
2.5%
2.5%
Health Care
1.3%
0.1%
1.4%
Government
/
1.3%
1.3%
Consumer Staples
0.4%
0.6%
1.0%
Cash and Others
5.9%
Total
62.0%
32.1%
100%

Top 5 Equity Holdings

Equity
Region
Weight
Taiwan Semiconductor Manufacturing
Taiwan
8.9%
Tencent Holdings
Mainland China
3.6%
Samsung Electronics
South Korea
3.5%
Alibaba Group - W
Mainland China
2.6%
SK Hynix
South Korea
1.9%

Top 5 Bond Holdings

Bond
Region
Weight
HYUELE 6.5% 01/17/33
South Korea
2.6%
LGENSO 5.5% 07/02/34
South Korea
2.3%
AIA Group 5.375% 05/04/34
Hong Kong
2.3%
WDSAU 5.1% 09/12/34
Australia
2.2%
MEITUA 3.05% 10/28/30
Mainland China
2.1%

Fund Information

Investment Objective and Strategy

The Fund aims to provide income and long term capital growth through investing primarily in a balanced portfolio consisting of equity and debt securities issued in the debt and securities markets in the Asia Pacific region (excluding Japan). The Fund may invest primarily (i.e. at least 70% of the Fund’s Net Asset Value) in a balanced portfolio consisting of (i) equity and debt securities issued in the debt and securities markets in the Asia Pacific region (excluding Japan), and/or (ii) other collective investment schemes (including exchange-traded funds) which have similar investment objectives and/or strategies as the Fund. The Fund will be actively managed and will invest in the emerging market countries as well as developed countries. In respect of the investment strategy of equity investments, debt securities investments and other investments of the Fund, please refer to the offering documents of the Fund for details.

Base Currency
USD
Fund Class
Class A USD – Income Units
Class A HKD – Income Units
Class A RMB (Hedged) – Income Units
Class A AUD (Hedged) – Income Units
Class P USD – Income Units
Class D HKD – Accumulation Units
Bloomberg code
HK0000658481
HK0000658499
HK0000756244
HK0000847993
HK0000658507
HK0000658523
ISIN Code
HSPASAU HK
HSPASAH HK
HAAAIAR HK
HAAAIAH HK
HSPASPU HK
HSANADH HK
Management Fee
1.5%
Ongoing charges over a year3
2.62%
[1]

The asset allocation ratio will increase or decrease according to the investment decisions of the fund manager. The fund manager will decide whether to sell the call option and determine the extent of the sale based on a range of factors.

[2]

Source: Hang Seng Investment, as of 31 October 2025. The sector breakdown of equities is classified according to The Global Industry Classification Standard (GICS), while the sector breakdown of bonds is classified according to The Bloomberg Industry Classification Standard (BICS). Percentages of allocation may not sum up to 100% due to rounding issue.

[3]

The ongoing charges figure is an annualized estimation based on the actual expenses expressed as a percentage of the Fund's average Net Asset Value for the period 1 January 2025 to 28 January 2025 (the "Period") (Estimated annualized ongoing charges figure (%) = (The actual expenses for the Period / the average Net Asset Value for the Period) x total number of days in 2025 / number of days of the Period x 100). They include the fees of the Manager and the Trustee. Please refer to the "CHARGES AND EXPENSES" section in the Explanatory Memorandum and the Term Sheet of the Fund respectively for details. The actual figures may be different from the estimate. This figure may vary from year to year.

Disclaimer

The content is prepared by Hang Seng Investment Management Limited (“HSVM”). The content shall not be changed or modified and the content shall not be used in any other manner unless with the prior written consent of HSVM. At the time of publication of the content, certain information of the content is obtained and prepared from sources which HSVM believes to be reliable, and HSVM does not warrant, guarantee or represent the accuracy, validity or completeness of such information. Under no circumstances shall the content constitute a representation that it is correct as of any time subsequent to the date of publication. HSVM reserves the right to change the content without notice. The content is for reference only and is the view of HSVM and does not constitute and should not be regarded as an offer or solicitation to anyone to invest into any investment product. You should read the relevant investment product’s offering document (including the full text of the risk factors and charges stated therein). Investment involves risks (including the risk of loss of capital invested), prices of investment product units may go up as well as down, past performance is not indicative of future performance. A positive distribution rate (if any) does not imply a positive return. Fund award (if any) is for reference only and does not guarantee any fund performance or the performance of HSVM. If you have any doubt about the content or investment product (including its offering document), you should seek independent professional financial advice. HSVM will not be liable to anyone for any cost, claims, fees, penalties, loss or liability incurred if the content is improperly used. The content shall not be duplicated or stored or distributed or “Hang Seng Investment Management Limited”, “恒生投資管理有限公司”, “恒生投資管理”, “恒生投資” or any marks containing these names shall not be used without the prior written consent of HSVM. Where the investment products referred to in the content have been authorized by the Securities and Futures Commission or the China Securities Regulatory Commission or other regulators (as the case may be), such authorization is not a recommendation or endorsement of the investment products and does not guarantee the commercial merits of the investment products or their performance. It does not mean the investment products are suitable for all investors nor is it an endorsement of their suitability for any particular investor or class of investors. The content has not been reviewed by the Securities and Futures Commission.