Disclaimer

According to regulations set by the Financial Supervisory Commission, investments in foreign funds involving securities listed in Mainland China are limited to listed securities and interbank bonds market. The total investment in the aforementioned securities must not exceed 20% of the fund’s net asset value. When the fund’s investment regions include Mainland China and Hong Kong, the fund's net value may be affected to varying degrees by changes in Chinese laws, politics, or economic environment.

Non-investment grade bond funds are suitable for investors seeking fixed income with potential higher returns and who can tolerate higher risks; such investors should not allocate an excessively high proportion of their portfolio to these funds. Since non-investment grade bonds have credit ratings below investment grade or lack such ratings, and are highly sensitive to interest rate changes, these funds may suffer losses due to rising interest rates, decreased market liquidity, or issuer defaults, including failure to pay principal or interest, or bankruptcy. Investors should carefully evaluate these risks. Non-investment grade bond funds are not suitable for investors unable to bear these risks.

Funds investing in non-investment grade bonds may also invest in U.S. Rule 144A bonds (domestic funds can allocate up to 30% of total assets). However, such bonds are private placements without registration or disclosure requirements with the U.S. Securities and Exchange Commission. Only qualified institutional investors can participate in this market, and liquidity may be limited for general investors, increasing the risk of insufficient liquidity. Investors should be aware of these risks before investing.

Funds invested in bonds issued by financial institutions that have loss-absorbing capacity (including Contingent Convertible Bonds, CoCo Bonds, and Total Loss-Absorbing Capacity bonds, TLAC) may have their principal written down or converted to equity through contractual agreements or legal mechanisms if the issuer’s capital adequacy ratio falls below a certain level, or if facing operational or bankruptcy crises. Such actions may result in partial or total reduction of client holdings, cancellation of interest, conversion to equity, or modifications to bond terms such as maturity date, coupon rate, payment dates, or suspension of distributions.

Monthly distribution funds, A/Y stable monthly distribution shares, A/Y/B shares【F1 Stable Monthly Distribution】, A Shares H-month distribution in AUD hedged, Y Shares H-month distribution in AUD (AUD/USD hedged), and A/B Shares C-month distribution may pay distributions from the fund’s income, principal, or reserve funds. Distributions drawn from principal or reserves may reduce the original investment amount. The purpose is that, to maintain stable distributions, the fund’s dividends are paid from principal portions. However, please note that dividends per share are not fixed. Fund distributions do not represent actual returns, and past distributions do not guarantee future payouts. The fund’s net value may fluctuate due to market factors. Investors should also consider changes in net value when receiving distributions. For funds with monthly distributions, A/Y/B shares【F1 Stable Monthly Distribution】, A Shares H-month distribution (AUD hedged), Y Shares H-month distribution (AUD/USD hedged), and A/B Shares C-month distribution, prior to distribution, relevant expenses have not been deducted. For recent 12 months’ distribution data paid from principal, please visit Ming Jing Capital’s official website. F1 Stable Monthly Distribution is suitable for investors who understand and accept the following: distributions mainly come from total income and occasionally from principal, only when maintaining stable distributions. Note that dividends per share are not fixed. C-month distribution funds aim to provide higher distributions, mainly from total income and principal, representing returns on the original investment or partial capital repayment, or capital gains generated from the initial investment. Distributions may immediately reduce the fund’s net asset value per share and the fund’s principal available for future investments. Principal growth may slow down, and higher dividends do not necessarily mean overall positive investment returns. Deferred sales charge for Class N units varies by currency and is payable upon redemption, with rates depending on holding period (3% for <1 year, 2% for 1-2 years, 1% for 2-3 years, and none after 3 years). Other fees are the same as upfront charges and do not include sales commissions. Please refer to the fund’s prospectus for details.

1. Investment Risks

All investments carry risks. Financial markets may fluctuate due to economic conditions, interest rate changes, policy adjustments, international events, or other unforeseen factors, leading to gains or losses in investment value.

Diverse investment products (such as funds, stocks, ETFs, bonds, derivatives, etc.) have different risk profiles and investment restrictions. Investors should thoroughly understand these risks before investing and bear the relevant risks themselves.

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