Objective

The investment objective is to provide investment results that, before fees and expenses, closely correspond to the performance of the FTSE MPF China A Index (CNH) (the “Index”).

Strategy

In seeking to achieve the Sub-Fund’s investment objective, the Manager will either use a full replication strategy or a representative sampling strategy as the Manager believes to be appropriate in order to achieve the investment objective of the Sub-Fund by tracking the Index as closely as possible to the benefit of the investors. The Sub-Fund may switch between the full replication strategy and the representative sampling strategy in its absolute discretion without prior notice to investors.
In pursuing the full replication strategy, the Sub-Fund will invest in substantially all securities constituting the Index (the “Index Securities”) in substantially the same weightings (i.e. proportions) as they have in the Index. The Sub-Fund may invest up to 100% of its NAV in A-Shares directly through the Stock Connect (i.e. the mutual stock market access between Mainland China and Hong Kong, comprising the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect).
In pursuing the representative sampling strategy, the Manager may:

1. invest in a representative sample whose performance is closely correlated with the Index, but whose constituents may or may not themselves be constituents of the Index;
2. invest up to 10% of the Sub-Fund’s NAV in collective investment schemes (“CIS”), each being either an exchange traded fund or an unlisted index tracking fund which tracks an index that has a high correlation with the Index. Such CIS may be authorised by the SFC, eligible schemes under Chapter 7.11A of the Code, or non-eligible schemes. For the avoidance of doubt, the Sub-Fund’s aggregate investment in non-eligible schemes and not authorised by the SFC may not exceed 10% of the NAV of the Sub-Fund; and/or
3. invest up to 10% of the Sub-Fund’s NAV in financial derivative instruments including futures and swaps for hedging and investment purposes, where the Manager believes such investments will help the Sub-Fund achieve its investment objective and are beneficial to the Sub-Fund.

In pursuing a representative sampling strategy, the Manager may cause the Sub-Fund to deviate from the Index weighting on condition that the maximum deviation from the Index weighting of any constituent will not exceed 3% or such other percentage as determined by the Manager after consultation with the SFC.

Other investments
The Sub-Fund may invest in money market funds (subject to the investment restrictions as set out in Chapter 7 of the Code), and in cash deposits and cash equivalents for cash management purposes, up to 10% of its NAV.
The Manager may, on behalf of the Sub-Fund, enter into securities lending transactions, with the maximum level for up to 50% and expected level for approximately 20% of its NAV, and is able to recall the securities lent out at any time. As part of the securities lending transactions, the Sub-Fund must receive cash and/or non-cash collateral of at least 100% of the value of the securities lent (interests, dividends and other eventual rights included). The collateral will be marked-to-market on a daily basis and be safekept by the Custodian.
The Manager does not currently intend to enter into sale and repurchase transactions, reverse repurchase transactions and other similar over-the-counter transactions on behalf of the Sub-Fund. The Manager will seek prior approval of the SFC (to the extent required under applicable regulatory requirements) and provide at least one month’s prior notice to Unitholders before the Manager engages in any such transactions.
The investment strategy of the Sub-Fund is subject to the investment and borrowing restrictions set out in the Prospectus.

Index
The Index is a free float-adjusted market capitalisation weighted index which consists of eligible large cap and mid cap China A share companies in the FTSE MPF All-World Index. Such A-share companies should be listed on the stock exchanges approved by the Mandatory Provident Fund Schemes Authority in Hong Kong (the “MPFA”), i.e., the Shanghai Stock Exchange (“SSE”) and the Shenzhen Stock Exchange (“SZSE”).
Each security of the Index must be a current constituent of the FTSE All-World Index . In order to be included in the FTSE All-World Index, eligible securities are required to pass the screens including minimum voting rights, investability weightings screen such as free float and minimum foreign headroom requirements, and liquidity screen. Each security of the Index is further screened by MPFA eligibility requirements, including that securities admitted to trading and listing on stock exchanges that are not approved by the MPFA will be excluded from the calculation, in order to derive the FTSE MPF All-World Index.
The Index is a net total return index, which means that it reflects the reinvestment of dividends or distributions, after deduction of any withholding tax. The Index is denominated and quoted in RMB (CNH). The Index was launched on 14 April 2021 and had a base level of 1,000 on 14 November 2014. As of 29 May 2026, the Index consists of 965 constituent securities and has a total market capitalisation of approximately CNH73,910 billion.
The Index is compiled and managed by FTSE Russell (the “Index Provider”). The Manager (and each of its Connected Persons) are independent of the Index Provider.
The list of constituent securities of the Index with their respective weightings are available on the website of the Index Provider https://www.lseg.com/en/ftse-russell/index-resources/constituent-weights (this website has not been reviewed by the SFC). The last closing index level, index methodology and the additional information of the Index can be found on https://www.lseg.com/en/ftse-russell/indices/mpf (this website has not been reviewed by the SFC).
Real-time updates of the Index can be obtained through information vendor Bloomberg under the following identifiers:

Bloomberg: GPEFM003