ICBCCS S&P China 500 UCITS ETF Class B USD

Objective The Sub-Fund seeks to track the performance of the S&P China 500 Index (the "Index"). The Sub-Fund will invest directly in China domestic equity securities (including Stock Connect) through the RQFII quota of Carne Global Fund Managers (Luxembourg) S.A. and ICBC Credit Suisse Asset Management (International) Co., Ltd. as well as equity securities issued globally by China companies outside of China. The Sub-Fund may also invest in financial derivative instruments for the purposes of hedging and efficient portfolio management in accordance with the UCI Law. The Sub-Fund does not intend to use financial derivative instruments extensively for investment purposes. Principal Investment Strategy The Sub-Fund will primarily make direct investment in transferable securities representing the constituents of the Index through a full replication strategy, and may also invest in equity equivqalent securities as well as convertible bonds, warrants options, futures, P-notes and ETFs which will provide indirect exposure to the securities included in the Index. However, in circumstances where the liquidity conditions of the market prevent the Investment manager from using a full replication strategy, the Sub-Fund might optimize replication through representative sampling strategy. Investment Horizon The Fund is suitable for investors with a long-term investment horizon. Distribution Policy This Class is a distribution Share Class. Dividends will be declared anually, if any. Dealing Frequency You may buy and sell shares any day that is a business day, which is any full day on which banks and stock exchanges are open for normal business banking in Luxembourg, Hong Kong, China, Singapore, London and the U.S.