HSBC Global Funds ICAV Global Aggregate Bond UCITS ETF Marketing communication | Monthly report 31 January 2025 | Share class ETFCH This product is based overseas and is not subject to UK sustainable investment labelling and disclosure requirements.Share class detailsInvestment objective Key metrics The Fund aims to provide regular income and capital growth by tracking as closely as possibleNAV per share USD 10.42 the performance of the Bloomberg Global Aggregate Bond Index (total return hedged to US Yield to maturity 3.65% dollars) (the Index). Fund facts UCITS V compliant YesInvestment strategy UK reporting fund status Yes (UKRS) The Index is comprised of investment grade bonds (and other similar securities). The Index is multi-currency but is hedged to US dollars (USD). The Index includes treasury, government- ISA eligible Yes related, corporate and securitised fixed-rate bonds from developed and emerging markets Dividend treatment Accumulating issuers.The Fund will be passively managed and will invest in bonds issued by governments, Dealing frequencyDaily government-related, supranational bodies and companies based in developed and emerging markets; ABS and MBS; and covered bonds, all of which are Index constituents. It uses an Valuation time 23:00 Ireland investment technique called optimisation, which seeks to minimise the difference in return Share class base currency USD between the Fund and the Index by considering tracking error (the risk that the Fund return varies DomicileIreland from the Index return) and trading costs when constructing a portfolio. The Fund will not necessarily invest in every Index constituent or invest proportionally to each constituents’ Index Inception date 20 May 2024 weight and may invest in assets outside of the Index, such as: bonds with a credit rating of Ba1,Fund size USD 12,023,722,148 BB+ and below; as well as cash, money market instruments and funds.The Fund may invest up to Reference 100% Bloomberg Global 30% in China Interbank Bond market, up to 10% of its assets in funds.The Fund may also investbenchmarkAggregate Bond Index up to 30% in total return swaps. However, this exposure is not expected to exceed 0%.The credit (total return hedged to ratings of the Fund’s underlying investments is expected to be at least investment grade.The USD) Fund’s primary currency exposure is to USD.See the Prospectus for a full description of the ManagersHSBC Passive Fixed Income investment objectives and derivative usage. Team Fees and expenses Main risks Minimum initial USD 1 investment¹ • The value of investments and any income from them can go down as well as up andinvestors may not get back the amount originally invested Ongoing charge figure² 0.100% • Investing in assets denominated in a currency other than that of the investor’s own currency Codesexposes the value of the investment to exchange rate fluctuations ISIN IE0007SZHO07 • Where overseas investments are held the rate of currency exchange may cause the value of Bloomberg ticker HGAD LNsuch investments to go down as well as up. SEDOL BRC80F5 ¹Please note that initial minimum subscription may vary across different distributors ²Ongoing Charges Figure is an estimate as the share class has not been priced for a full financial year. Past performance does not predict future returns. The figures are calculated in the share class base currency, dividend reinvested, net of fees. This is a marketing communication. Please refer to the prospectus and to the KID before making any final investment decisions. For definition of terms, please refer to the Glossary QR code and Prospectus. Performance figures will only be published once the share class has achieved a twelve months track record. Source: HSBC Asset Management, data as at 31 January 2025 HSBC Global Funds ICAV Global Aggregate Bond UCITS ETF Monthly report 31 January 2025 | Share class ETFCH Performance (%) YTD 1 month 3 months 6 months 1 year3 years ann 5 years ann Since inception ETFCH -- -- -- -- -- ---- -- Reference Benchmark ------ ---- -- -- -- 31/01/24- 31/01/23- 31/01/22- 31/01/21- 31/01/20- Rolling performance (%) 31/01/25 31/01/2431/01/23 31/01/2231/01/21 ETFCH -- -- ---- -- Reference Benchmark-- -- -- -- -- Reference Reference 3-Year Risk Measures ETFCHBenchmark 5-Year Risk Measures ETFCHBenchmark Volatility-- -- Volatility -- -- Sharpe ratio ----Sharpe ratio -- -- Tracking error----Tracking error-- -- Information ratio ----Information ratio -- -- Reference Fixed Income Characteristics Fund Benchmark Relative No. of holdings ex cash 4,90330,650 -- Average coupon rate2.94 2.97-0.03 Yield to worst3.66%3.66%0.00% Option adjusted duration 6.56 6.54 0.02 Modified duration to worst 6.33 6.32 0.00 Option adjusted spread duration6.45 6.43 0.01 Average maturity 8.43 8.43 0.00 Rating average AA-/A+AA-/A+-- Reference Maturity Breakdown Credit rating (%) Fund Benchmark Relative(Option adjusted Reference AAA 15.3211.83 3.49 duration)Fund Benchmark Relative 0-2 years0.19 0.19 0.00 AA38.8142.62 -3.81 2-5 years0.99 1.00 -0.01 A 31.6431.37 0.27 5-10 years 2.19 2.18 0.01 BBB 13.9914.17 -0.18 10+ years3.17 3.18 -0.01 BB 0.03 -- 0.03 Total6.54 6.550.00 B 0.02 -- 0.02 NR 0.01 -- 0.01 Cash 0.17 -- 0.17 Past performance does not predict future returns. The figures are calculated in the share class base currency, dividend reinvested, net of fees. Source: HSBC Asset Management, data as at 31 January 2025 HSBC Global Funds ICAV Global Aggregate Bond UCITS ETF Monthly report 31 January 2025 | Share class ETFCHDuration by currencyCurrency AllocationReference bloc (Option adjusted Reference(%) FundBenchmarkRelative duration) FundBenchmark Relative USD 100.05100.00 0.05 Dollar3.09 3.040.05 EUR 0.04-- 0.04 Euro 1.47 1.49 -0.02 GBP 0.01-- 0.01 Japan 0.84 0.85 -0.01 THB 0.01-- 0.01 EM Local Currency 0.83 0.86 -0.03 AUD 0.01-- 0.01 UK 0.30 0.300.00 PEN 0.01-- 0.01 Total 6.54 6.550.00 MXN 0.00-- 0.00 PLN 0.00-- 0.00 RON 0.00-- 0.00 DKK 0.00-- 0.00 Other Currencies -0.14-- -0.14 Geographical allocation (%) 44.82 United States44.7025.41 Europe 25.23 24.44 Asia 25.03 2.45 Other 2.411.10 Latin America 1.05 0.84 Eastern Europe 0.80 0.73 Middle East 0.77 0.04 Africa 0.02 0.17 Cash Fund Reference Benchmark Reference Sector allocation (%) Fund BenchmarkRelative Treasuries 53.10 53.26 -0.16 Supra/agencies 14.75 14.78 -0.03 Corp Non-fin 11.35 11.210.14 US Agency Mbs 10.45 10.60 -0.14 Corp Fin7.23 7.180.06 Collateralised 2.94 2.98 -0.04 Cash0.17--0.17 Source: HSBC Asset Management, data as at 31 January 2025 HSBC Global Funds ICAV Global Aggregate Bond UCITS ETF Monthly report 31 January 2025 | Share class ETFCHTop 10 holdings Weight (%) CHINA GOVT BOND 2.550 15/10/280.33 FNCL 6.5 1/25 6.500 0.29 CHINA DEV BANK 2.520 25/05/28 0.29 FNCL 2 1/25 2.000 0.26 FNCL 2.5 1/25 2.500 0.24 CHINA GOVT BOND 2.040 25/02/270.24 US TREASURY N/B 4.375 15/05/340.23 CHINA GOVT BOND 3.250 06/06/260.19 CHINA DEV BANK 2.730 11/01/28 0.18 CHINA GOVT BOND 3.000 15/10/530.18 Source: HSBC Asset Management, data as at 31 January 2025 HSBC Global Funds ICAV Global Aggregate Bond UCITS ETF Monthly report 31 January 2025 | Share class ETFCH Follow us on: Risk disclosuresHSBC Asset Management • The Fund invests in bonds whose value generally falls when interest rates rise. This risk is typically greater the longer the maturity of a bond investment and the higher its credit quality. The issuers of certain bonds, could become unwilling or unable to make payments on their For more information please contact us bonds and default. Bonds that are in default may become hard to sell or worthless. at E-mail: • The Fund may invest in Emerging Markets, these markets are less established, and often Wholesale.clientservices@hsbc.com. more volatile, than developed markets and involve higher risks, particularly market, liquidity www.assetmanagement.hsbc.com/uk and currency risks. To help improve our service and in the • To the extent that the Fund seeks to replicate index performance by holding individual interests of security we may record and/ securities, there is no guarantee that its composition or performance will exactly match thator monitor your communication with us. of the target index at any given time (“tracking error”). • Derivatives may be used by the Fund, and these can behave unexpectedly. The pricing and volatility of many derivatives may diverge from strictly reflecting the pricing or volatility of their underlying reference(s), instrument or asset. • Investment Leverage occurs when the economic exposure is greater than the amount Glossary invested, such as when derivatives are used. A Fund that employs leverage may experience greater gains and/or losses due to the amplification effect from a movement in the price of the reference source. • Where overseas investments are held the rate of currency exchange may cause the value of such investments to go down as well as up. • Further information on the potential risks can be found in the Key Information Document (KID) and/or the Prospectus or Offering Memorandum. Index disclaimer Bloomberg® is a trademark and service mark of Bloomberg Finance L.P. (collectively with its affiliates, “Bloomberg”). Barclays® is a trademark and service mark of Barclays Bank Plc www.assetmanagement.hsbc.co.uk/en/ (collectively with its affiliates, “Barclays”), used under license. Bloomberg or Bloomberg’s api/v1/download/document/ licensors, including Barclays, own all proprietary rights in the Bloomberg Barclays Indices. gb00b80qg615/gb/en/glossary Neither Bloomberg nor Barclays approve or endorse this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith. Important information The material contained herein is for marketing purposes and is for your information only. This document is not contractually binding nor are we required to provide this to you by any legislative provision. It does not constitute legal, tax or investment advice or a recommendation to any reader of this material to buy or sell investments. You must not, therefore, rely on the content of this document when making any investment decisions. This material is not intended for distribution to or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This material is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe to any investment. Any views expressed were held at the time of preparation and are subject to change without notice. While any forecast, projection or target where provided is indicative only and not guaranteed in any way. HSBC Global Asset Management (UK) Limited accepts no liability for any failure to meet such forecast, projection or target. Further information about the UCITS including the Prospectus, the most recent annual and semi-annual reports of the UCITS and the latest prices of shares, may be obtained free of charge, in English, from the Administrator by emailing ifsinvestorqueries@hsbc.com , or by visiting www.global.assetmanagement.hsbc.com. The Prospectus, annual and semi-annual reports are prepared for the entire UCITS. The most recent Prospectus is available in English and French. Key Investor Information Document (KID) are available in the local language where they are registered. To help improve our service and in the interests of security we may record and/or monitor your communication with us. HSBC Global Asset Management (UK) Limited provides information to Institutions, Professional Advisers and their clients on the investment products and services of the HSBC Group. Approved for issue in the UK by HSBC Global Asset Management (UK) Limited, who are authorised and regulated by the Financial Conduct Authority. www.assetmanagement.hsbc.co.uk Copyright © HSBC Global Asset Management (UK) Limited 2025. All rights reserved. Further Information can be found in the prospectus and in our Key Investor Information Documents published in our Fund Centre at www.assetmanagement.hsbc.co.uk Term: The management company cannot terminate the Fund unilaterally. The Board of Directors may furthermore decide to liquidate the Fund in certain circumstances set out in the prospectus and articles of incorporation of the Fund.Further additional and complete information (including but not limited to) investor rights, costs and charges, please refer to the prospectus. Source: HSBC Asset Management, data as at 31 January 2025