Definition: Alternative Open-end Flexible Investment Fund, of indefinite duration, denominated in three categories – A, B and C, whose distinction consists on the currency denomination of the quotation, subscription and redemption; USD, EUR and CNY, respectively.

Objective: To provide participants with an investment composed of liquid assets, mostly bonds from Chinese issuers, with the objective of obtaining a higher return than the benchmark.

Risk and remuneration indicator of this Fund:

• Category A Shares (USD): Risk Class of 3, in a scale from 1 to 7.
• Category B Shares (EUR): Risk Class of 4, in a scale from 1 to 7
• Category C Shares (CNY): Risk Class of 3, in a scale from 1 to 7.

The Fund will have the following maximum investment limits, in terms of the Fund’s Net Asset Value (FNAV):

• 100% in Money Market Instruments and Money Market Funds;
• 50% in Chinese Government Bonds or State-Owned Enterprises;
• 30% in Bonds issued by Chinese companies with Investment Grade rating;
• 50% in Bonds issued by Chinese Financial Institutions with Investment Grade rating;
• 30% in Bonds of High Yield Chinese Issuers;
• 10% in Bonds of Chinese Issuers with no rating;
• 50% of  Direct investment in cumulative exposure of CNH and CNY;
• 20% of Shares in other Funds.

The Fund may only invest in Chinese bonds issued in the Offshore market, with a minimum of 2 out of 3 ratings conferred by the following international agencies (S&P, Moody’s and Fitch). The Fund may only invest in Chinese Onshore bonds, with a minimum of 1 out of 3 ratings conferred by the following international agencies (S&P, Moody’s and Fitch) or with a rating given by Dagong. The Fund may not invest more than 20% of the FNAV in the same bond issue. The Fund may not invest more than 20% of the FNAV in the same issuer (with the exception of government debt).

Accumulation fund, without income distribution.

Minimum recommended investment period: 3 years.

Minimum initial subscription amount: 20.000 USD or 15.000 EUR or 120.000 CNY.

Minimum amount of subsequent subscriptions: 1.000 USD or 1.000 EUR or 7.000 CNY.

The subscription becomes effective on the next business day after the date of the subscription request.

The redemption fee is calculated according to the term of the investment, as follows:

• 0,5% of the Share value up to 90 days, elapsed from the date of the subscription order (e.g.: on a 1,000 euros redemption request, the refund amount will be of 995 euros);
• 0% of the Share value after 90 days elapsed from the subscription order date;
• Orders placed after twelve o’clock, Continental Portugal time, will be considered as of the following business day. The redemption payment will be made five working days after the date of submission of the request.

Other fees

Charges charged to the Fund during one year: 1,56% (expected value).