Rates trending down, high-yield risk assets in focus

	The market expects that the tariff may not trigger sustained inflation. As inflation continues to cool, central banks around the world are likely to maintain accommodative policies, driving liquidity into risk assets
	Asian high-yield bonds are attractively priced, offering relatively higher yields compared to global peers. Coupled with comparatively low default risk, they have become one of the most closely watched investment instruments

Asia's economy charts a path to growth

	The International Monetary Fund estimates that Asia could achieve real GDP growth of 3.9% this year, outpacing the global growth forecast of 2.8%³

	For two consecutive years, India's government has significantly allocated over 11 trillion Indian rupees to large-scale infrastructure investments, benefiting multiple areas such as metals and steel, highways, and power. Renewable energy has also become one of India's key national priorities, enhancing the sector's operating capacity

	China's first-half GDP rose 5.3%⁴on the year. The government has rolled out extensive stimulus policies across infrastructure investment, consumer subsidies, and public services. These initiatives aim to revive domestic demand, optimising the business environment, and bolstering structural transformation, creating long-term growth opportunities for relevant sectors

Seize investment opportunities, capitalise on Asian high-yield bond income potential

BEA Union Investment Asian Bond and Currency Fund "ABC"

Aim to provide consistent and stable monthly dividends

Actively capitalising on growth potential of high-yield bonds, with an annualised dividend yield of 9%¹
(Dividend is not guaranteed. Distributions may be paid out of capital) Important Note 3

Actively managed and benchmark-agnostic, with greater sensitivity to market changes

Timely and flexible allocation between high-yield and investment-grade bonds to pursue regular interest income and Alpha
Diversify across over 100 Asian corporate bonds, with an average portfolio credit rating of BB-
Currently favouring a high-yield strategy

Leading performances generated by reliable investment strategies

Over 15 years of proven experience navigating various market cycles, with
well-recognised capabilities

A pioneer in Asian high-yield bond investing, having garnered 45 fund awards since 2012²

Source: Unless otherwise specified, all fund data sources are BEA Union Investment as of 31 July 2025.
^ Including investment professionals of Union Investment and BEA Union Investment
* Source: Morningstar, data as of 31 July 2025. ©2025 Morningstar. All Rights Reserved. The rating is for Class A USD (Accumulating). The rating is for reference only and should not be construed as buy and sell recommendation of investment. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
1. Source: BEA Union Investment, the mentioned dividend yield is for A USD (Distributing) for July 2025. Annualised dividend yield= (dividend of the current month x 12) / last month end NAV x 100%. Dividend only applies to distributing classes and is not guaranteed. Past dividend record is not indicative of future dividend likely to be achieved. Please note that a positive distribution yield does not imply a positive return. Please refer to the dividend notice available on website for dividend composition information and details.
2. Organisations which have granted awards to BEA Union Investment include Asia Asset Management, AsianInvestor, BENCHMARK, Fund Selector Asia, Fundsupermart.com, Refinitiv Lipper, The Asset, Insights & Mandate, Morningstar, Bloomberg Businessweek, China Fund News and MPF Ratings.
3. Source: International Monetary Fund, World Economic Outlook April 2025.
4. Source: National Bureau of Statistics, data as at 16 July 2025.
5. Source: BEA Union Investment, ICE Data Services, data as at 31 July 2025. This rating represents the average credit rating of the ICE BofA ACHY Sector/Issuer Constrained Custom Index (Q6AI).
6. Source: BofA Global Research, data as at 31 July 2025.
7 Source: Morningstar, data as at 31 July 2025. ©2025 Morningstar. All Rights Reserved. Performance is calculated in Class A USD (Accumulating) of the Fund on a NAV to NAV basis. Gross income is re-invested. It is for reference only and should not be construed as buy and sell recommendation of investment. The mentioned performance ranking compares against the annualised performance (total return is calculated in USD) of funds authorized by SFC (authorization does not imply recommendation) which are categorized under Asian High Yield Bond Fund category. A USD (Accumulating) launched on 28 Aug 2008. Past performance: 2024: 13.2%; 2023: -3.6%; 2022: -8.1%; 2021: -8.6%; 2020: -0.4%; Cumulative performance: YTD (31 July 2025): 4.2%; 1 year: 6.2%; 3 years: 16.4%; 5 years: 1.0%; Since Inception: 137.4%.
8 Source: Union Investment, as of 30 June 2025. BEA Union Investment ("The company") is an independently operated investment management company, jointly established by The Bank of East Asia, Limited ("BEA") and Union Investment Management Holding AG ("Union Investment"). The company complies with all relevant regulations and maintains a business separation system between itself and its shareholders. The AUM mentioned refers to the assets managed by Union Investment in its capacity as an asset manager.

Important note:
1. BEA Union Investment Asian Bond and Currency Fund (The "Fund") is subject to general investment risk, Asian market concentration risk, emerging market risk and currency risk.
2. The Fund invests in debts securities and are subject to risks in interest rates, credit/counterparty, downgrading, below investment grade and non-rated securities, volatility and liquidity, valuation and sovereign debt and credit rating which may adversely affect the price of the debt securities.
3. The manager may at its discretion make distributions from income and/or capital in respect of the distributing classes of the Fund. Distributions paid out of capital amount to a return or withdrawal of part of the unitholder's original investment or from any capital gains attributable to that original investment. Such distribution may result in an immediate reduction of the net asset value per unit.
4. In terms of currency hedged class units, adverse exchange rate fluctuations between the base currency of the Fund and the class currency of the currency hedged class units may result in a decrease in return and/or loss of capital for unitholders. Over-hedged or under-hedged positions may arise and there can be no assurance that the currency hedged class units will be hedged at all times or that the manager will be successful in employing the hedge.
5. RMB is currently not a freely convertible currency as it is subject to exchange controls and restrictions. Non-RMB based (e.g. Hong Kong) investors are exposed to foreign exchange risk and there is no guarantee that the value of RMB against the investors base currencies (for example HKD) will not depreciate. Any depreciation of the RMB could adversely affect the value of investors investments.
6. The Fund may use financial derivative instruments for hedging and investment purposes which may not achieve the intended purpose and may result in significant losses. Risks associated with derivative instruments include counterparty/credit risk, liquidity risk, valuation risk, volatility risk and over-the-counter transaction risk.
7. Investors should not make an investment decision based solely on this material.

Investment involves risks, including the possible loss of the principal amount invested. Past performance is not indicative of future performance. Investors should refer to the relevant offering document (including the Key Facts Statement) of the fund for further details including risk factors. The information contained herein is only a brief introduction to the Fund. Investors should be aware that the price of units may go down as well as up as the investments of the Fund are object to market fluctuations and to the risks inherent in all investments. The information contained in this document is based upon information which BEA Union Investment Management Limited ("BEA Union Investment") considers reliable and is provided on an “as is” basis. BEA Union Investment makes no representations or warranties, express or implied, as to the accuracy or completeness of the above information or that any returns indicated will be achieved. This document does not constitute an offer, recommendation or solicitation to buy or sell any securities or financial instruments. This material and the mentioned website have not been reviewed by the SFC in Hong Kong.
Issuer: BEA Union Investment Management Limited

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