Generali Worldwide Investment Options Brochure · 2 of 22 | Generali Worldwide Insurance Company Limited – Investment Options Brochure GW HK EL IOB 07’18 GW HK EL IOB 07’18

Generali WorldwideInvestment Options BrochureInvestment-Linked Assurance Schemes: Vision, Choice and Select – July 2018 Hong Kong

2 of 22 | Generali Worldwide Insurance Company Limited – Investment Options Brochure

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This Investment Options Brochure, the respective Details Guide and the Product Key Facts Statement (“Product KFS”) form the “Offering Documents” of Vision, Choice and Select. Before you decide to invest, we recommend that you read and understand the Offering Documents and the illustration document, given to you by your financial adviser.

This brochure contains a list of investment options for you to choose from and each investment option has a corresponding underlying fund.

You should read the offering documents of underlying funds corresponding to the investment options, which are available from Generali Worldwide Insurance Company Limited upon request, for details of the underlying funds (including, without limitation, the investment objectives and policies, risk factors and charges).

Please note that Generali Worldwide Insurance Company Limited’s ILAS Plan literature may refer to the term “investment option” as “investment choice”. They both have the same meaning. In this Investment Options Brochure the term “investment option” is used throughout.

Investment Options Brochure From Generali Worldwide Insurance Company Limited

— Vision, Choice and Select are investment-linked assurance schemes (each an “ILAS Plan”). They are life insurance plans issued by Generali Worldwide Insurance Company Limited and are not funds authorized by the Securities and Futures Commission (the “SFC”) pursuant to the Code on Unit Trusts and Mutual Funds (“UT Code”).

— Your investment in an ILAS Plan is subject to the credit risk of Generali Worldwide Insurance Company Limited. — Before you invest, it is important to understand that the ownership of the units in any underlying fund resides with Generali Worldwide Insurance Company Limited at all times. You are not investing directly in the underlying funds and you do not have any rights or ownership over these underlying investments. The premiums paid by you towards your ILAS Plan will become part of the assets of Generali Worldwide Insurance Company Limited and will be used to allocate notional units to your ILAS Plan solely for the purpose of calculating the value of your ILAS Plan benefits. Your recourse is against Generali Worldwide Insurance Company Limited only.

— Investment involves risk. The value of your ILAS Plan is not guaranteed and can go down as well as up. The return and value of your ILAS Plan will be calculated by Generali Worldwide Insurance Company Limited with reference to the performance and value of the underlying funds and may be lower than the return on the underlying funds due to ILAS Plan charges. You may not receive back the full amount that you have contributed to your ILAS Plan.

— The value of your ILAS Plan may also rise and fall purely on account of currency exchange rate fluctuations if any of the investment options are denominated in a currency other than that of your ILAS Plan.

— Although your ILAS Plan is a life insurance plan, because the death benefit is linked to the performance of the investment options you choose from time to time, the death benefit is subject to investment risks and market fluctuations. The death benefit payable may be significantly less than the premiums contributed and may not be sufficient for your individual needs.

— ILAS Plans are designed for the long-term investor. Early full surrender or partial surrender of an ILAS Plan may result in a significant loss of principal. Poor performance of underlying funds may further magnify your investment losses, while all charges are still deductible.

— The investment options available under the ILAS Plans can have very different features and risk profiles. Some may be of high risk. In choosing investment options you should read and understand the offering documents of the underlying fund(s) corresponding to your investment option(s), which are available from your Financial Adviser and from Generali Worldwide Insurance Company Limited on request.

— You are responsible for your investment decisions and any investment option is chosen entirely at your own risk.

1. BEFORE YOU INVEST

Generali Worldwide Insurance Company Limited – Investment Options Brochure | 3 of 22

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Due to potential changes in market conditions, we cannot guarantee that your investment options will continue to be available for investment or redemption.

Generali Worldwide Insurance Company Limited accepts full responsibility for the accuracy of the information contained in this document (which is correct as at July 2018) and confirm, having made all reasonable enquiries, that to the best of our knowledge and belief there are no other facts the omission of which would make any statement misleading.

The value of your policy is linked to the value of your chosen investment options only and therefore this document does not represent an offer for sale or a solicitation to buy any of the underlying funds or any security or investment in any jurisdiction.

2. INFORMATION FOR INVESTORS

2.1 Investment option At plan commencement, you can select investment options from this brochure of investment options

corresponding to underlying funds. Initially, you can select up to ten investment options but these can be changed throughout the life of your plan by use of the switch option. For each investment option selected, you will be allocated notional units1 corresponding to units in the underlying fund, which represents your investment option.

1 Notional unit(s) Premiums will be used to allocate notional units of investment options to your plan corresponding

to units in the underlying funds, which represent your chosen investment options. Because of this allocation of notional units to your plan, Generali Worldwide Insurance Company Limited will purchase units in the corresponding underlying funds. The notional units of investment options are used solely for the purpose of calculating the value of your plan benefits.

2.2 Underlying funds Each of your investment options has a corresponding underlying fund. Generali Worldwide Insurance Company Limited will purchase or sell units in the underlying fund

corresponding to your investment option. As a result, Generali Worldwide Insurance Company Limited will allocate or de-allocate notional units of investment options to your plan accordingly. The ownership of the units in the underlying fund resides with Generali Worldwide Insurance Company Limited at all times. You are not investing in the underlying funds and you do not have any rights or ownership over these underlying investments. For each unit of an underlying fund purchased or sold, Generali Worldwide Insurance Company Limited will allocate or de-allocate a notional unit of investment options corresponding to the underlying fund to/from your plan. The price of a notional unit allocated or de-allocated and representing each investment option is equal to the applicable offer price2 or bid price3, respectively. The dealing frequency of each investment option will be the same as that of the corresponding underlying fund. The notional units of investment options are used solely for the purpose of calculating the value of your plan benefits. The value of your plan benefits at any time is determined by the value of the notional units in your plan. The return and value on your plan may be lower than the return on the underlying funds due to plan charges.

2 Offer price The price of a notional unit of an investment option to be allocated, being the published offer price

of a unit of the corresponding underlying fund, plus any fee, charge, tax or levy which we incur in purchasing a unit of the underlying fund that is not otherwise included in the published offer price. It is the price of a notional unit used for investments and switches into investment options.

3 Bid price The price of a notional unit of an investment option, being the published bid price of a unit of the

corresponding underlying fund, less any fee, charge, tax or levy which we incur in selling a unit of the underlying fund that is not otherwise included in the published bid price. It is the price of a notional unit used in calculating switches out of investment options, and payments of full and partial surrenders, regular withdrawals, death benefit and where notional unit deductions are made to pay plan charges.


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Any dividend paid by managers of the underlying funds are re-invested by us to allocate additional notional units of investment options to your plan, in respect of your selected investment options where they correspond to the underlying funds on which the dividends are paid.

Detailed information on the underlying funds themselves including investment restrictions and borrowing powers applicable to the investments of these underlying funds can be found in the relevant underlying fund prospectus published by the underlying fund manager, which is available from your Financial Adviser and from Generali Worldwide Insurance Company Limited on request.

The investment options corresponding to the underlying funds deal monthly, fortnightly, weekly or daily.

2.3 Fees and Charges In addition to any fees and charges levied by Generali Worldwide Insurance Company Limited at

plan level, the bid/offer spread4 and annual management charges of the underlying funds will be incurred. The annual management charge of the underlying funds is in the range of 0.5% to 3% p.a. of the net asset value. The maximum bid/offer spread is 5.75% of the underlying fund which, after applying discounts (if any) negotiated by Generali Worldwide Insurance Company Limited, is substantially reduced to a maximum of 2% and a minimum of 0%. Annual performance fees (if applicable), may also be applied at the underlying fund level. In addition, other charges may apply to underlying funds. Please note that the fees and charges at the underlying fund level will be reflected in the “total expense ratio” of the fund which is available from your financial adviser on request.

Fees and charges (if applicable) at underlying fund level may vary. We will give affected planholders

written notice in case of any variation. The period of written notice given will be in compliance with the relevant regulatory requirements.

For detailed information on all fees and charges (both plan level charges and underlying fund

level charges), please refer to the relevant ILAS Plan Details Guide and the prospectus/offering document of the relevant underlying fund, available from your financial adviser or from Generali Worldwide Insurance Company Limited on request.

4 Bid/offer spread The difference between the offer price2 and the bid price3.

2.4 Investment Risk Investment involves risks. Each underlying fund is subject to investment risks e.g. market,

interest rate and exchange rate fluctuations. The value of investment options and their performance may go down as well as up. Each investment option will have different features and risk profile and some may be of high risk.

For further details on the ‘Investment risk(s)’ of each investment option and its corresponding underlying fund, please refer to page 5, Section 3 ‘Investment risk factors’ and also the prospectus/offering document of the relevant underlying fund, available from your financial adviser or from Generali Worldwide Insurance Company Limited on request.

2.5 Switching As a Planholder, you may switch your investment options. Switches out of investment options

corresponding to underlying funds are processed using the next available bid price, whereas switches into investment options corresponding to underlying funds are processed using the next available offer price. Generali Worldwide Insurance Company Limited does not currently charge a plan switch fee. For more detailed information on switching, please refer to the relevant Details Guide for the ILAS Plan in which you are investing.

2.6 Withdrawal of an investment option Generali Worldwide Insurance Company Limited reserves the right, to withdraw the availability

of any investment option and associated underlying fund from the Investment Options Brochure.


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Fund managers of underlying funds can also withdraw availability of their underlying funds at their discretion. Generali Worldwide Insurance Company Limited will then have to withdraw the availability of the corresponding investment option.

Withdrawal of an investment option and associated underlying fund can either be applicable to future unit holdings only (in which case existing notional unit holdings can continue to be held) or to both future and existing holdings (in which case existing notional unit holdings must be switched to another investment option).

Generali Worldwide Insurance Company Limited will give written notice to all affected planholders.

As part of this notice, Generali Worldwide Insurance Company Limited will outline clearly to planholders their options in terms of their existing holdings in the investment option to be withdrawn and future premium allocations to it. The options available will reflect the particular circumstances. If no switching instruction or new allocation instruction is received from the planholder before the date specified in the notice, Generali Worldwide Insurance Company Limited will switch the existing investment option holdings and redirect their future premium allocations to the designated investment options stated in the notice free of charge.

The period of written notice given will be one month’s advance notice or such other period of

notice in compliance with the relevant regulatory requirements.

3. INVESTMENT RISK FACTORS

3.1 China Market Risk Investing in securities markets in the People’s Republic of China (PRC) is similar to the risks of

investing in emerging markets generally and the risks specific to the PRC market. The national regulatory and legal framework for capital markets in the PRC are still developing and may not be as mature as other developed economies. Investments in the PRC will be sensitive to any significant change in political, social and economic policy in the PRC. The government’s control over currency conversion and exchange rates as well as repatriation policies will also affect the operations and financial results of companies investing in the PRC. The underlying fund may also be subject to PRC withholding and other taxes imposed within the PRC. Investors should be aware that their investments may be adversely affected by changes in PRC tax law and regulations, which are constantly in a state of flux and will change constantly over time.

3.2 Commodities Risk Where underlying funds have exposure to commodities, this can involve additional risks to

those resulting from traditional investments and may subject the underlying fund to greater volatility. The value of commodity-linked instruments may be affected by overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular commodity industry or the production and trading of commodities, such as natural events (e.g. drought, floods, weather, and livestock disease), embargoes, tariffs and international economic, political and regulatory developments.

3.3 Concentration Risk Underlying fund investments may be concentrated in a particular market/industry sector e.g. gold

and precious metals sector, which may include investments in commodities-linked Exchange Traded Funds (ETFs). The underlying fund may be subject to greater volatility and more rapid cyclical changes than those investing in a wide range of sectors.

3.4 Counterparty Risk Underlying funds may be exposed to a credit risk on parties with whom they trade securities and

derivatives, and may also bear the risk of counterparty default. To the extent that a counterparty defaults on its obligation and the underlying fund is delayed or incapable of exercising its rights with respect to the investments in its portfolio. The underlying fund may be adversely affected by experiencing a decline in the value of its position, lose income and incur costs associated with asserting its rights.


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3.5 Conflicts of Interest: Underlying funds may be subject to conflicts of interests that may or may not be disclosed in

the offering document of the underlying fund, including direct or indirect financial or governance relationships with service providers, brokers, advisers and other intermediaries or their respective directors and employees, including but not limited to commission and retrocession arrangements using soft dollars or otherwise. It is recommended that you request your financial adviser to disclose any actual or potential conflict of interests in relation to any investment option that you may select.

3.6 Credit Risk Investment in bonds or other fixed income securities are subject to the risk that issuers fail to make

payments on interest and/or principal of such securities. An issuer suffering from an adverse change in its financial condition could lower the quality of a security leading to greater price volatility on that security. A security having a low credit rating may decrease its liquidity and make it more difficult to liquidate. Non-investment grade bonds are more susceptible to these problems and the value of such securities may be more volatile. This risk, if realised, would have an adverse effect on the net asset value of underlying funds exposed to such securities. In the event of a bankruptcy or other default of a security issuer, underlying funds may experience both delays in liquidating the underlying securities and associated losses including a possible decline in value of the underlying securities during the period when the underlying fund seeks to enforce its rights thereto. Securities which were investment grade at the time of acquisition may be downgraded. The risk of any such downgrading will vary over time.

3.7 Currency Risk The potential risk of loss from fluctuating foreign exchange rates when an investor has exposure to

foreign currency or in foreign-currency traded investments. The currency of your plan may differ from the currency of the investment options which you hold within this plan. Generali Worldwide Insurance Company Limited will use the commercial rate of exchange (foreign exchange rate) where we are required to convert plan investment or plan pay-outs from one currency to a different one. It consists of a market rate to which we will add a margin of up to 1% depending on the currency pair in question. Market rates are sourced from the Bloomberg market data service and updated daily.

3.8 Early Termination Risk Underlying funds may be liquidated on the occurrence of certain events (see below for examples).

Upon liquidation, all the assets of the underlying fund will be realised and the net proceeds thereof which are available for distribution will be distributed to its planholders in proportion to their holdings. Investors should note that the amount distributed to them may be less than the amount of their initial investment.

In general, the following circumstances may lead to termination of an underlying fund:

a) if the manager of the underlying fund goes into forced liquidation or becomes incapable of performing its duties properly; or

b) if the underlying fund ceases to be authorized under the relevant regulations in Hong Kong or any law is passed which makes it illegal, impracticable or inadvisable to continue the underlying fund; or

c) if a change in the economic or political situation relating to the underlying fund concerned would justify the termination of the underlying fund or if the interests of the planholders would justify it.

3.9 Equity-Linked Notes (ELNs) Risk ELNs, involve a counterparty structuring a note whose value is intended to move in line with the

underlying security specified in the note. In the event that the counterparty (structurer of the note) defaults, the risk to the underlying fund which holds the ELN is linked to that of the counterparty, irrespective of the value of the underlying security within the note. The liquidity of an ELN can be less than that for the underlying security, a regular bond or debt instrument and this may adversely affect either the ability to sell the position or the price at which such a sale is transacted.


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3.10 Emerging Markets Risk The underlying fund invests in global companies with exposure to emerging markets. Exposure to

emerging markets involves a greater risk of loss than exposure to more developed markets due to, among other factors, greater political, tax, economic, foreign exchange, liquidity, market volatility (such as interest rate and price volatility) and regulatory risks.

3.11 Equity Risk The value of the underlying funds that invest in equity securities (i.e. company stocks and shares)

will be affected by changes in the market price. The price will be influenced by the outlook of those companies, general economic, industry and market trends.

3.12 Financial Derivative Instruments (FDIs) Risk Participation, direct or indirect investment, in derivative instruments such as warrants, futures

and options by an underlying fund will expose the fund to the specific risks associated with such instruments including exposure to the credit quality of the counterparty. Depending on the type of instrument, the exposure to downward movement in the value of such instruments may or may not be limited. Investment in derivative transactions may result in losses in excess of the amount invested. Such instrument transactions are typically “geared” in that the initial outlay is small relative to the value of the contract. Thus a relatively small market movement in the assets to which the instruments relate will have a proportionately larger impact on the value of the instrument itself.

3.13 Foreign Investment Restrictions Risk Some countries prohibit or restrict investment, or the repatriation of income, capital or the proceeds

from sale of securities or assets. Underlying funds may incur higher costs investing in these countries. Such restrictions may delay the investment or repatriation of capital of the underlying fund.

3.14 Hedging Risk The underlying fund manager of the security in which the underlying fund may invest is permitted,

but not obliged, to use hedging techniques to attempt to offset market and currency risks. There is no guarantee that hedging techniques will achieve the desired result.

3.15 Inflation Risk This type of risk refers to the possibility of a reduction in the real value of underlying fund

assets. Inflation risk surfaces when the inflation tends to decrease the purchasing capacity of a currency whether it is invested or not. Inflation risk can destabilize and weaken the performance of an investment.

3.16 Interest Rate Risk Investment risk associated with the possibility that there is a rise in the interest rates after a fixed

income fund (such as bonds) has been purchased resulting in a decline in that bond’s price.

3.17 Liquidity Risk This type of risk arises from situations in which an investor engaging in underlying funds trading

cannot do so because nobody in the market wants to trade that asset. These underlying funds may be difficult to value and will be traded at a price that is significantly lower than its value.

3.18 Money Market Instruments Risk Money market instruments in which the underlying fund invests are subject to the solvency of

the relevant underlying issuer. The buying and selling of money market instruments is exposed to liquidity constraints in the market. While every effort will be made to maintain the capital value of the underlying fund, this may be the case as a loss made on an instrument held by the underlying fund could reduce the capital value of the underlying fund.

3.19 Political Risk This is the risk that revolution, political conditions or uncertainties will affect the value of the

underlying fund.


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3.20 Qualified Foreign Institutional Investor (QFII) Risk The QFII policy and rules are subject to change and any such change could adversely impact

the performance of the underlying funds. The underlying fund invests in China A Shares directly through QFII scheme and indirect investments in China A Shares through China A Shares Access Products (CAAPs).

The underlying fund’s investments made through the QFII Holder are subject to the prevailing

exchange controls and other prevailing requirements of the People’s Republic of China (“PRC”) including rules on investment restrictions, lock-up period and repatriation and remittance of principal and profits. The capacity of the underlying fund to make investments, and thus the value of the underlying fund, may be affected.

The current QFII policy and QFII regulations are subject to change, which may take retrospective

effect. In addition, there can be no assurance that the QFII regulations will not be abolished. The underlying fund, which invests in the PRC markets through the QFII Holder, may be adversely affected as a result of such changes.

The QFII licence held by the QFII Holder may be revoked or terminated or otherwise invalidated at

any time. In such event, all the assets held by the PRC QFII Custodian for the account of the underlying fund will be liquidated and repatriated to a bank account maintained for and on behalf of the underlying fund outside of the PRC in accordance with applicable laws and regulations. The underlying fund may be required to dispose of its securities holdings and may suffer significant loss as a result of such liquidation and repatriation.

The underlying fund may also be subject to repatriation restrictions such as lock-up period. In

particular, under the QFII regulations, there are foreign exchange control restrictions imposed on the repatriation of funds by the QFII Holder. The underlying fund will be restricted from withdrawing investment capital from the cash accounts of the underlying fund during the lock-up period, which will expire on 26th June 2014. After the lockup period, the underlying fund may repatriate capital, dividends, interest and income from the PRC, however any such repatriation is subject to a monthly cumulative limit of 20 per cent of the total onshore assets managed by the QFII Holder (or managed through its group companies including the manager) as a QFII as at the end of the preceding year. The restrictions on repatriation of the investment capital and net profits may have impact on the underlying fund’s ability to meet the redemption requests of its unit-holders.

Custodians or sub-custodians may be appointed in local markets for purpose of safekeeping assets

of the underlying fund in those markets. Where the underlying fund invests in eligible securities through the QFII quota held by the QFII Holder, such securities will be maintained by the PRC QFII Custodian through one or more securities account(s), in accordance with PRC law and the underlying fund may be subject to custodial risk. If the PRC QFII Custodian defaults, the underlying fund may suffer substantial losses. The assets, including cash, held by the PRC QFII Custodian belong to the underlying fund as the ultimate beneficial owner, and they are segregated from the assets of the manager, the QFII Holder, the QFII Custodian, the PRC QFII Custodian, the PRC brokers, and their respective clients.

There can be no assurance that the QFII Holder will continue to make available its QFII quota, or

the underlying fund will be allocated a sufficient portion of QFII quota to meet all applications for subscription to the underlying fund. The performance of the underlying funds may therefore be adversely affected due to limited investment capabilities, or the underlying fund may not be able to fully implement or pursue its investment objective or strategy.

Please be aware of the risks associated with the underlying fund of Value Partners China Convergence

Acc Fund - USD. Please refer to the offering documents of the underlying fund for more details.


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3.21 Real Estate Securities Risk Underlying funds which hold real estate securities are subject to substantially the same risks as direct

investments in real estate. Real estate values fluctuate depending on factors such as local, regional and national economic environment, rental market demand, interest rates changes, as well as the management, organization, skill and capital funding of the managers and operators of the underlying properties. When the economy slows down or if interest rates rise, mortgage and financing costs will increase and can affect the profitability and liquidity of properties in the real estate market. This can potentially lead to declines in property values and hence adversely affect the value of associated investments.

3.22 Smaller Companies/Mid-sized Companies Risk Smaller companies/mid-sized companies are subject to the risk of greater vulnerability to the release

of unfavourable market news and information and poor economic or market conditions. Market for smaller companies/mid-sized companies is generally of lower liquidity. Therefore underlying funds with exposure to such companies may fluctuate in value more than other underlying funds because of the greater volatility of share prices of smaller companies. Investment in small cap companies may have higher than average volatility and liquidity risks.

3.23 Single Countries Risk Underlying funds may invest in single countries and therefore have a narrower focus than those

underlying funds which invest broadly across markets. This may increase the potential volatility of the underlying fund.

3.24 China A Shares Risk Underlying funds may invest in China A shares directly through the QFII scheme (subject to the

approval of relevant Chinese authorities) and may incur losses due to limited investment opportunities, or may not be able to fully implement or pursue its investment objectives or strategy, due to QFII investment restrictions, illiquidity of the China A shares market, and/or delay or disruption in execution of trades or in settlement of trades. Please be aware of the risks associated with the underlying funds of Fidelity China Consumer Fund A – EUR, Fidelity China Consumer Fund A – USD and Fidelity Funds – Greater China Fund A Inc. Please refer to the offering documents of the relevant underlying funds for more details.


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GUIDE TO THE RISK AND REWARD PROFILE

To help you select the investment options that best fit with your approach to risk, Generali Worldwide Insurance Company Limited use the Synthetic Risk and Reward Indicator (SRRI) of the corresponding underlying fund for each investment option for your reference only. Please note that the investment options SRRI risk category is not constant and is currently updated on an annual basis.

This SRRI calculation has been provided by Morningstar Inc., based on guidelines provided by the European Securities and Markets Authority (ESMA), formally the Committee of European Securities Regulators (CESR) and Morningstar’s interpretation, methodology and implementation of said guidelines. Each SRRI category has been assigned a risk value, based on an increasing scale of between 1 and 7 (with 1 representing the lowest level of volatility and 7 the highest level of volatility) and is determined according to the historical volatility of the underlying fund, or where appropriate, the historical volatility of a comparable market index. Investment options cannot be assigned an SRRI where one is unavailable for the underlying fund and will be indicated using a value of ‘U’.

This does not constitute investment advice and is for your reference only, if in doubt, please contact your financial adviser.

Please note that websites referred to in this document may contain products that are not authorized in Hong Kong and are not available for offering to Hong Kong investors. This document must be read in conjunction with the Details Guide and Product KFS of the relevant ILAS Plan(s).

FUND HOUSE WEBSITE DIRECTORY

Aberdeen www.aberdeen-asset.com

Allianz www.allianzglobalinvestors.eu

Alquity www.alquity.com

Barings www.barings.com

BlackRock www.blackrockinternational.com

DWS www.dws.com

Fidelity www.fidelity.co.uk

First State www.firststateasia.com

Franklin Templeton www.franklintempleton.co.uk

HSBC www.hsbcinvestments.co.uk

Invesco www.invescointernational.co.uk

Investec www.investecassetmanagement.com

JPMorgan www.jpmorgan.com

Jupiter www.jupiterinternational.com

MAN www.maninvestments.com

Momentum Harmony www.harmonyportfolios.com

Morgan Stanley www.morganstanley.com

Parvest www.bnpparibas-am.com

Pictet www.pictet.com

Pimco www.pimco.com

Schroder www.schroder.com/lux

Threadneedle www.threadneedle.com

Value Partners www.valuepartners-group.com


LIST OF INVESTMENT OPTIONS AVAILABLE UNDER VISION, CHOICE AND SELECT

You should read the offering documents (including the product key facts statements) of the underlying funds, which are available from Generali Worldwide Insurance Company Limited upon request, for details of the underlying funds (including, without limitation, their investment objectives and policies, risk factors and charges).

NAME OF INVESTMENT OPTION ISIN CODE OF UNDERLYING FUND

NAME OF CORRESPONDING UNDERLYING FUND

NAME OF MANAGEMENT COMPANY/INVESTMENT MANAGER OF UNDERLYING FUND

SHARE CLASS OF UNDERLYING FUND

CURRENCY OF INVESTMENT OPTION

CURRENCY OF UNDERLYING FUND

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SRRI RATING 1

HSBC GLOBAL MONEY FUND HKD ACC KYG4641H1285 HSBC GLOBAL MONEY FUNDS - HSBC GLOBAL MONEY FUNDS - HONG KONG DOLLAR

HSBC INVESTMENT FUNDS (HONG KONG) LIMITED A HKD HKD

INVESTEC GSF STERLING MONEY FUND A INC LU0345759590 INVESTEC GLOBAL STRATEGY FUND - STERLING MONEY FUND

INVESTEC ASSET MANAGEMENT LUXEMBOURG S.A. A STERLING STERLING

INVESTEC GSF US DOLLAR MONEY FUND A INC USD LU0345758782 INVESTEC GLOBAL STRATEGY FUND -US DOLLAR MONEY FUND

INVESTEC ASSET MANAGEMENT LUXEMBOURG S.A. A US DOLLAR US DOLLAR

SCHRODER ISF EURO LIQUIDITY FUND A ACC EUR LU0136043394 SCHRODER INTERNATIONAL SELECTION FUND -

EURO LIQUIDITYSCHRODER INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A EURO EURO

SCHRODER ISF US DOLLAR LIQUIDITY FUND A ACC USD LU0136043808 SCHRODER INTERNATIONAL SELECTION

FUND - US DOLLAR LIQUIDITYSCHRODER INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

SRRI RATING 3

FIDELITY FUNDS - EURO BOND FUND A INC LU0048579097 FIDELITY FUNDS - EURO BOND FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A EURO EURO

FIDELITY FUNDS FLEXIBLE BOND A ACC GBP LU0261947765 FIDELITY FUNDS - FLEXIBLE BOND FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. I STERLING STERLING

HSBC GIF US DOLLAR BOND DIS P LU0011820056HSBC GLOBAL INVESTMENT FUNDS SICAV - HSBC GLOBAL INVESTMENT FUNDS - US DOLLAR BOND

HSBC INVESTMENT FUNDS (LUXEMBOURG) S.A. P US DOLLAR US DOLLAR

INVESTEC GSF INVESTMENT GRADE CORPORATE BOND A INC EUR LU0416337789 INVESTEC GLOBAL STRATEGY FUND -

INVESTMENT GRADE CORPORATE BOND FUNDINVESTEC ASSET MANAGEMENT LUXEMBOURG S.A. A EURO EURO

JUPITER GLOBAL FUND - JUPITER DYNAMIC BOND CLASS L USD ACC HSC LU0853555463 THE JUPITER GLOBAL FUND – JUPITER DYNAMIC

BONDJUPITER UNIT TRUST MANAGERS LIMITED L US DOLLAR US DOLLAR

PIMCO GIS GI INV GRADE CREDIT FUND ADMINISTRATIVE CLASS USD ACC IE00B3KYRN47 PIMCO FUNDS: GLOBAL INVESTORS SERIES PLC -

GLOBAL INVESTMENT GRADE CREDIT FUNDPIMCO GLOBAL ADVISORS (IRELAND) LIMITED ADMINISTRATIVE US DOLLAR US DOLLAR








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SCHRODER INTERNATIONAL SELECTION FUND - EMERGING MARKETS DEBT ABSOLUTE RETURN USD A ACC

LU0106253197 SCHRODER INTERNATIONAL SELECTION FUND - EMERGING MARKETS DEBT ABSOLUTE RETURN

SCHRODER INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

SRRI RATING 4

FIDELITY FUNDS - GLOBAL MULTI ASSET INCOME FUND A ACC USD LU0905233846 FIDELITY FUNDS - GLOBAL MULTI ASSET

INCOME FUNDFIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

INVESTEC GSF GLOBAL STRATEGIC MANAGED A ACC LU0345768153 INVESTEC GLOBAL STRATEGY FUND –

GLOBAL STRATEGIC MANAGED FUNDINVESTEC ASSET MANAGEMENT LUXEMBOURG S.A. A US DOLLAR US DOLLAR

MOMENTUM HARMONY PORTFOLIOS ASIAN BALANCED FUND CLASS B USD LU0651983636 MOMENTUM GLOBAL FUNDS – HARMONY

PORTFOLIOS ASIAN BALANCED FUNDFUNDROCK MANAGEMENT COMPANY S.A. B US DOLLAR US DOLLAR

MOMENTUM HARMONY PORTFOLIOS ASIAN GROWTH FUND CLASS B USD LU0651984014 MOMENTUM GLOBAL FUNDS – HARMONY

PORTFOLIOS ASIAN GROWTH FUNDFUNDROCK MANAGEMENT COMPANY S.A. B US DOLLAR US DOLLAR

MOMENTUM HARMONY PORTFOLIOS EUROPE DIVERSIFIED FUND CLASS B EUR LU0651984956 MOMENTUM GLOBAL FUNDS – HARMONY

PORTFOLIOS EUROPE DIVERSIFIED FUNDFUNDROCK MANAGEMENT COMPANY S.A. B EURO EURO

MOMENTUM HARMONY PORTFOLIOS STERLING BALANCED FUND CLASS B GBP LU0651985334 MOMENTUM GLOBAL FUNDS – HARMONY

PORTFOLIOS STERLING BALANCED FUNDFUNDROCK MANAGEMENT COMPANY S.A. B STERLING STERLING

MOMENTUM HARMONY PORTFOLIOS STERLING GROWTH FUND CLASS B GBP LU0651985763 MOMENTUM GLOBAL FUNDS – HARMONY

PORTFOLIOS STERLING GROWTH FUNDFUNDROCK MANAGEMENT COMPANY S.A. B STERLING STERLING

MOMENTUM HARMONY PORTFOLIOS US DOLLAR BALANCED FUND CLASS B USD LU0651986142 MOMENTUM GLOBAL FUNDS – HARMONY

PORTFOLIOS US DOLLAR BALANCED FUNDFUNDROCK MANAGEMENT COMPANY S.A. B US DOLLAR US DOLLAR

MOMENTUM HARMONY PORTFOLIOS US DOLLAR GROWTH FUND CLASS B USD LU0651986654 MOMENTUM GLOBAL FUNDS – HARMONY

PORTFOLIOS US DOLLAR GROWTH FUNDFUNDROCK MANAGEMENT COMPANY S.A. B US DOLLAR US DOLLAR

TEMPLETON ASIAN BOND FUND A ACC – USD LU0229949994 FRANKLIN TEMPLETON INVESTMENT FUNDS - TEMPLETON ASIAN BOND FUND

FRANKLIN TEMPLETON INTERNATIONAL SERVICES S.A.R.L. A US DOLLAR US DOLLAR

TEMPLETON EMERGING MARKETS BOND A (DIS) LU0029876355 FRANKLIN TEMPLETON INVESTMENT FUNDS -

TEMPLETON EMERGING MARKETS BOND FUNDFRANKLIN TEMPLETON INTERNATIONAL SERVICES S.A.R.L. A US DOLLAR US DOLLAR

TEMPLETON GLOBAL BOND FUND A (ACC) USD LU0252652382 FRANKLIN TEMPLETON INVESTMENT FUNDS - TEMPLETON GLOBAL BOND FUND


TEMPLETON GLOBAL BOND FUND A MDIS SGD H1 LU0366777323 FRANKLIN TEMPLETON INVESTMENT FUNDS

– TEMPLETON GLOBAL BOND FUNDFRANKLIN TEMPLETONINTERNATIONAL SERVICES S.A.R.L. A SINGAPORE

DOLLARSINGAPORE

DOLLAR








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TEMPLETON GLOBAL TOTAL RETURN A MDIS SGD H1 LU0450468698 FRANKLIN TEMPLETON INVESTMENT FUNDS

– TEMPLETON GLOBAL TOTAL RETURN FUNDFRANKLIN TEMPLETONINTERNATIONAL SERVICES S.A.R.L. A SINGAPORE

DOLLARSINGAPORE

DOLLAR

TEMPLETON GLOBAL TOTAL RETURN FUND A ACC USD LU0170475312 FRANKLIN TEMPLETON INVESTMENT FUNDS -

TEMPLETON GLOBAL TOTAL RETURN FUNDFRANKLIN TEMPLETON INTERNATIONAL SERVICES S.A.R.L. A US DOLLAR US DOLLAR

SRRI RATING 5

ABERDEEN GLOBAL – ASIAN SMALLER COMPANIES FUND CLASS A ACC GBP LU0231459958 ABERDEEN GLOBAL - ASIAN SMALLER

COMPANIES FUND ABERDEEN GLOBAL SERVICES S.A. A STERLING STERLING

ABERDEEN GLOBAL – ASIAN SMALLER COMPANIES FUND CLASS A ACC USD LU0231459107 ABERDEEN GLOBAL - ASIAN SMALLER

COMPANIES FUND ABERDEEN GLOBAL SERVICES S.A. A US DOLLAR US DOLLAR

ABERDEEN GLOBAL RESPONSIBLE WORLD EQUITY FUND A ACC USD LU0278938138 ABERDEEN GLOBAL - RESPONSIBLE

WORLD EQUITY FUND ABERDEEN GLOBAL SERVICES S.A. A US DOLLAR US DOLLAR

BARINGS ASEAN FRONTIERS FUND CLASS A EUR INC IE0004868828 BARINGS INTERNATIONAL UMBRELLA FUND -

BARINGS ASEAN FRONTIERS FUNDBARING INTERNATIONAL FUND MANAGERS (IRELAND) LIMITED A EURO EURO

BARINGS ASEAN FRONTIERS FUND CLASS A GBP INC IE00B3BC5T90 BARINGS INTERNATIONAL UMBRELLA FUND -

BARINGS ASEAN FRONTIERS FUNDBARING INTERNATIONAL FUND MANAGERS (IRELAND) LIMITED A STERLING STERLING

BARINGS ASEAN FRONTIERS FUND CLASS A USD INC IE0000830236 BARINGS INTERNATIONAL UMBRELLA FUND -

BARINGS ASEAN FRONTIERS FUNDBARING INTERNATIONAL FUND MANAGERS (IRELAND) LIMITED A US DOLLAR US DOLLAR

BGF NEW ENERGY A2 USD LU0124384867 BLACKROCK GLOBAL FUNDS - NEW ENERGY FUND BLACKROCK (LUXEMBOURG) S.A. A2 US DOLLAR US DOLLAR

BLACKROCK GLOBAL FUNDS - NEW ENERGY FUND A4 GBP LU0204063720 BLACKROCK GLOBAL FUNDS - NEW ENERGY

FUND BLACKROCK (LUXEMBOURG) S.A. A4 STERLING STERLING

BLACKROCK GLOBAL FUNDS - UNITED KINGDOM FUND A2 GBP LU0011847091 BLACKROCK GLOBAL FUNDS -

UNITED KINGDOM FUND BLACKROCK (LUXEMBOURG) S.A. A2 STERLING STERLING

DWS GLOBAL AGRIBUSINESS A2 LU0264451831 DWS GLOBAL AGRIBUSINESS DWS INVESTMENT S.A. A2 US DOLLAR US DOLLAR

FIDELITY ASEAN FUND A – USD LU0261945553 FIDELITY FUNDS - ASEAN FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

FIDELITY FUNDS – AMERICA FUND A USD INC LU0048573561 FIDELITY FUNDS - AMERICA FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

FIDELITY FUNDS – AUSTRALIA FUND A INC LU0048574536 FIDELITY FUNDS - AUSTRALIA FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A AUD AUD








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FIDELITY FUNDS – GLOBAL PROPERTY A USD INC LU0237698245 FIDELITY FUNDS - GLOBAL PROPERTY FUND FIL INVESTMENT MANAGEMENT

(LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

FIDELITY FUNDS – GLOBAL TECHNOLOGY FUND A – ACC USD (HEDGED) LU1235294995 FIDELITY FUNDS – GLOBAL TECHNOLOGY FUND FIL INVESTMENT MANAGEMENT

(LUXEMBOURG) S.A A US DOLLAR US DOLLAR

FIDELITY FUNDS – PACIFIC A USD INC LU0049112450 FIDELITY FUNDS - PACIFIC FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

FIDELITY FUNDS – UNITED KINGDOM FUND A INC LU0048621717 FIDELITY FUNDS - UNITED KINGDOM FUND FIL INVESTMENT MANAGEMENT

(LUXEMBOURG) S.A. A STERLING STERLING

FIDELITY GLOBAL DIVIDEND FUND A – ACCEUR (HEDGED) LU0605515377 FIDELITY FUNDS – GLOBAL DIVIDEND FUND FIL INVESTMENT MANAGEMENT

(LUXEMBOURG) S.A. A EURO EURO

FIDELITY GLOBAL DIVIDEND FUND A – ACC USD LU0772969993 FIDELITY FUNDS – GLOBAL DIVIDEND FUND FIL INVESTMENT MANAGEMENT(LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

FIDELITY GLOBAL FOCUS FUND A – USD LU1366333091 FIDELITY FUNDS - GLOBAL FOCUS FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

FIRST STATE ASIAN GROWTH FUND CLASS I – USD IE0008368411 FIRST STATE GLOBAL UMBRELLA FUND PLC -

FIRST STATE ASIAN GROWTH FUNDFIRST STATE INVESTMENTS (HONG KONG) LIMITED I US DOLLAR US DOLLAR

FIRST STATE GLOBAL LISTED INFRASTRUCTURE FUND I INC IE00B29SXL02

FIRST STATE GLOBAL UMBRELLA FUND PLC - FIRST STATE GLOBAL LISTED INFRASTRUCTURE FUND

FIRST STATE INVESTMENTS (HONG KONG) LIMITED I US DOLLAR US DOLLAR

FRANKLIN MUTUAL U.S. VALUE FUND A ACC – EUR LU0140362707 FRANKLIN TEMPLETON INVESTMENT FUNDS -

FRANKLIN MUTUAL U.S. VALUE FUNDFRANKLIN TEMPLETON INTERNATIONAL SERVICES S.A.R.L. A EURO EURO

FRANKLIN MUTUAL U.S. VALUE FUND A ACC – USD LU0070302665 FRANKLIN TEMPLETON INVESTMENT FUNDS -

FRANKLIN MUTUAL U.S. VALUE FUNDFRANKLIN TEMPLETON INTERNATIONAL SERVICES S.A.R.L. A US DOLLAR US DOLLAR

FRANKLIN TEMPLETON US OPPORTUNITIES A ACC – USD LU0109391861 FRANKLIN TEMPLETON INVESTMENT FUNDS -

FRANKLIN U.S. OPPORTUNITIES FUNDFRANKLIN TEMPLETON INTERNATIONAL SERVICES S.A.R.L. A US DOLLAR US DOLLAR

HSBC GIF EUROPEAN EQUITY PD EURO LU0047473722 HSBC GLOBAL INVESTMENT FUNDS SICAV - HSBC GLOBAL INVESTMENT FUNDS -EUROPEAN EQUITY

HSBC INVESTMENT FUNDS (LUXEMBOURG) S.A. PD EURO EURO

INVESCO ASIA CONSUMER DEMAND FUND CLASS C LU0334857512 INVESCO FUNDS -

INVESCO ASIA CONSUMER DEMAND FUND INVESCO MANAGEMENT S.A. C US DOLLAR US DOLLAR

INVESCO CONTINENTAL EUROPEAN SMALL CAP EQUITY FUND C INC IE0003708223 INVESCO FUNDS SERIES 4 - INVESCO CONTINENTAL

EUROPEAN SMALL CAP EQUITY FUNDINVESCO GLOBAL ASSET MANAGEMENT DAC C US DOLLAR US DOLLAR








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INVESCO GLOBAL LEISURE C ACC LU0100598878 INVESCO FUNDS - INVESCO GLOBAL LEISURE FUND INVESCO MANAGEMENT S.A. C US DOLLAR US DOLLAR

INVESCO PACIFIC EQUITY FUND C INC IE0003600503 INVESCO FUNDS SERIES 1 - INVESCO PACIFIC EQUITY FUND

INVESCO GLOBAL ASSET MANAGEMENT DAC C US DOLLAR US DOLLAR

INVESTEC GSF GLOBAL DYNAMIC FUND Z INC LU0440694742 INVESTEC GLOBAL STRATEGY FUND - GLOBAL DYNAMIC FUND

INVESTEC ASSET MANAGEMENT LUXEMBOURG S.A. Z US DOLLAR US DOLLAR

INVESTEC GSF GLOBAL EQUITY A INC LU0345769631 INVESTEC GLOBAL STRATEGY FUND - GLOBAL EQUITY FUND

INVESTEC ASSET MANAGEMENT LIMITED A US DOLLAR US DOLLAR

INVESTEC GSF GLOBAL STRATEGIC EQUITY A INC LU0345770993 INVESTEC GLOBAL STRATEGY FUND -

GLOBAL STRATEGIC EQUITY FUNDINVESTEC ASSET MANAGEMENT LUXEMBOURG S.A. A US DOLLAR US DOLLAR

JPM AMERICAN EQUITY A (DIST) – USD LU0053666078 JPMORGAN FUNDS - AMERICA EQUITY FUND JPMORGAN ASSET MANAGEMENT (EUROPE) S.A’R.L. A US DOLLAR US DOLLAR

JPMORGAN ASEAN FUND HK0000055555 JPMORGAN ASEAN FUND JPMORGAN FUNDS (ASIA) LIMITED N/A US DOLLAR US DOLLAR

JPM EUROPE EQUITY A (ACC) - USD LU0119078227 JPMORGAN FUNDS - EUROPE EQUITY FUND JPMORGAN ASSET MANAGEMENT (EUROPE) S.A’R.L. A US DOLLAR US DOLLAR

JPM EUROPE SMALL CAP A (DIST) - EUR LU0053687074 JPMORGAN FUNDS - EUROPE SMALL CAP FUND JPMORGAN ASSET MANAGEMENT (EUROPE) S.A’R.L. A EURO EURO

JPMORGAN GLOBAL UNCONSTRAINED EQUITY FUND A ACC – USD LU0210533765 JPMORGAN FUNDS - GLOBAL

UNCONSTRAINED EQUITY FUNDJPMORGAN ASSET MANAGEMENT(EUROPE) S.A’R.L. A US DOLLAR US DOLLAR

JPMORGAN PACIFIC SECURITIES FUND HK0000055746 JPMORGAN PACIFIC SECURITIES FUND JPMORGAN FUNDS (ASIA) LIMITED N/A US DOLLAR US DOLLAR

JPM SINGAPORE FUND USD LU0117842756 JPMORGAN FUNDS - SINGAPORE FUND JPMORGAN ASSET MANAGEMENT (EUROPE) S.A’R.L. N/A US DOLLAR US DOLLAR

JUPITER GLOBAL VALUE FUND LU0425094348 THE JUPITER GLOBAL FUND - JUPITER GLOBAL VALUE

JUPITER UNIT TRUST MANAGERS LIMITED L STERLING STERLING

JUPITER JGF GLOBAL FINANCIALS L GBP INC LU0262308454 THE JUPITER GLOBAL FUND - JUPITER GLOBAL FINANCIALS


JUPITER JGF GLOBAL FINANCIALS L USD ACC LU0262307720 THE JUPITER GLOBAL FUND - JUPITER GLOBAL FINANCIALS

JUPITER UNIT TRUST MANAGERS LIMITED L US DOLLAR US DOLLAR








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MAN AHL DIVERSIFIED FUTURES LTD ACC TRANCHE A * BMG5777T1099 MAN AHL DIVERSIFIED FUTURES LTD AHL PARTNERS LLP A US DOLLAR US DOLLAR

MORGAN STANLEY ASIAN PROPERTY (A CLASS) LU0078112413 MORGAN STANLEY INVESTMENT FUNDS ASIAN PROPERTY FUND

MORGAN STANLEY INVESTMENT MANAGEMENT (ACD) LIMITED A US DOLLAR US DOLLAR

MORGAN STANLEY SICAV EUROPEAN PROPERTY A ACC LU0078113650 MORGAN STANLEY INVESTMENT FUNDS

EUROPEAN PROPERTY FUNDMORGAN STANLEY INVESTMENT MANAGEMENT (ACD) LIMITED A EURO EURO

PICTET GLOBAL MEGATREND SELECTION P – EUR LU0386882277 PICTET - GLOBAL MEGATREND SELECTION PICTET FUNDS (EUROPE) S.A. P EURO EURO

PICTET GLOBAL MEGATREND SELECTION P – USD LU0386859887 PICTET - GLOBAL MEGATREND SELECTION PICTET FUNDS (EUROPE) S.A. P US DOLLAR US DOLLAR

PICTET PREMIUM BRANDS CLASS P – USD LU0280433847 PICTET - PREMIUM BRANDS PICTET FUNDS (EUROPE) S.A. P US DOLLAR US DOLLAR

PICTET WATER P – EUR LU0104884860 PICTET - WATER PICTET FUNDS (EUROPE) S.A. P EURO EURO

PICTET WATER P – USD LU0255980327 PICTET - WATER PICTET FUNDS (EUROPE) S.A. P US DOLLAR US DOLLAR

SCHRODER ISF GLOBAL CLIMATE CHANGE A USD LU0302445910 SCHRODER INTERNATIONAL SELECTION FUND -

GLOBAL CLIMATE CHANGE EQUITYSCHRODER INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

TEMPLETON EMERGING MARKETS FUND A ACC – USD LU0128522744 FRANKLIN TEMPLETON INVESTMENT FUNDS -

TEMPLETON EMERGING MARKETS FUNDFRANKLIN TEMPLETON INTERNATIONAL SERVICES S.A.R.L. A US DOLLAR US DOLLAR

TEMPLETON GLOBAL A DIS LU0029864427 FRANKLIN TEMPLETON INVESTMENT FUNDS - TEMPLETON GLOBAL FUND


TEMPLETON GLOBAL TOTAL RETURN FUND A ACC EUR LU0260870661 FRANKLIN TEMPLETON INVESTMENT FUNDS -

TEMPLETON GLOBAL TOTAL RETURN FUNDFRANKLIN TEMPLETON INTERNATIONAL SERVICES S.A.R.L. A EURO EURO

THE JUPITER GLOBAL FUND - JUPITER EUROPEAN GROWTH FUND CLASS L EUR LU0260085492 THE JUPITER GLOBAL FUND -

JUPITER EUROPEAN GROWTHJUPITER UNIT TRUST MANAGERS LIMITED L EURO EURO

THE JUPITER GLOBAL FUND - JUPITER EUROPEAN GROWTH FUND CLASS L GBP LU0329190499 THE JUPITER GLOBAL FUND -

JUPITER EUROPEAN GROWTHJUPITER UNIT TRUST MANAGERS LIMITED L STERLING STERLING

* This investment option can be invested into by any Hong Kong investor under Vision, Choice and Select under which the investment option is available if, and only if, the total gross premiums paid by that investor towards that ILAS Plan have at any point in time reached US$10,000 or the currency equivalent.








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VALUE PARTNERS HIGH-DIVIDEND - STOCKS FUND HK0000288735 VALUE PARTNERS HIGH-DIVIDEND STOCKS FUND VALUE PARTNERS HONG KONG LIMITED A2 US DOLLAR US DOLLAR

SRRI RATING 6

ABERDEEN GLOBAL - LATIN AMERICAN EQUITY FUND A ACC - USD LU0396314238 ABERDEEN GLOBAL -

LATIN AMERICAN EQUITY FUND ABERDEEN GLOBAL SERVICES S.A. A US DOLLAR US DOLLAR

ALLIANZ GEM EQUITY HIGH DIVIDEND - AT – EUR LU0293313325 ALLIANZ GLOBAL INVESTORS FUND - ALLIANZ GEM EQUITY HIGH DIVIDEND

ALLIANZ GLOBAL INVESTORS EUROPE GMBH AT EURO EURO

ALLIANZ GEM EQUITY HIGH DIVIDEND - AT – USD LU0293314216 ALLIANZ GLOBAL INVESTORS FUND - ALLIANZ GEM EQUITY HIGH DIVIDEND

ALLIANZ GLOBAL INVESTORS EUROPE GMBH AT US DOLLAR US DOLLAR

ALQUITY SICAV AFRICA FUND M USD ACC LU0727489998 ALQUITY SICAV - ALQUITY AFRICA FUND LEMANIK ASSET MANAGEMENT S.A. M US DOLLAR US DOLLAR

BARINGS EASTERN EUROPE FUND EUR INC IE0004852103 BARINGS GLOBAL UMBRELLA FUND - BARINGS EASTERN EUROPE FUND

BARING INTERNATIONAL FUND MANAGERS (IRELAND) LIMITED A EURO EURO

BARINGS EASTERN EUROPE FUND USD INC IE0000805634 BARINGS GLOBAL UMBRELLA FUND - BARINGS EASTERN EUROPE FUND

BARING INTERNATIONAL FUND MANAGERS (IRELAND) LIMITED A US DOLLAR US DOLLAR

BARINGS HONG KONG CHINA FUND USD INC IE0000829238 BARINGS INTERNATIONAL UMBRELLA FUND - BARINGS HONG KONG CHINA FUND


BARINGS LATIN AMERICA FUND EUR INC IE0004851022 BARINGS EMERGING MARKETS UMBRELLA FUND - BARINGS LATIN AMERICA FUND

BARING INTERNATIONAL FUND MANAGERS (IRELAND) LIMITED A EURO EURO

BARINGS LATIN AMERICA FUND USD INC IE0000828933 BARINGS EMERGING MARKETS UMBRELLA FUND - BARINGS LATIN AMERICA FUND


BGF EMERGING MARKETS FUND A2 USD ACC LU0047713382 BLACKROCK GLOBAL FUNDS - EMERGING MARKETS FUND BLACKROCK (LUXEMBOURG) S.A. A2 US DOLLAR US DOLLAR

FIDELITY CHINA CONSUMER FUND A – EUR LU0594300096 FIDELITY FUNDS - CHINA CONSUMER FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A EURO EURO

FIDELITY CHINA CONSUMER FUND A – USD LU0594300179 FIDELITY FUNDS - CHINA CONSUMER FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

FIDELITY FUNDS – EMERGING EUROPE, MIDDLE EAST AND AFRICA A ACC USD LU0303823156 FIDELITY FUNDS - EMERGING EUROPE,

MIDDLE EAST AND AFRICA FUNDFIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR








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FIDELITY FUNDS – EURO BLUE CHIP A ACC EUR LU0251128657 FIDELITY FUNDS - EURO BLUE CHIP FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A EURO EURO

FIDELITY FUNDS – EUROPEAN GROWTH A ACC LU0048578792 FIDELITY FUNDS - EUROPEAN GROWTH FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A EURO EURO

FIDELITY FUNDS – GERMANY FUND A INC LU0048580004 FIDELITY FUNDS - GERMANY FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

FIDELITY FUNDS – GLOBAL TECHNOLOGY FUND A LU0099574567 FIDELITY FUNDS - GLOBAL TECHNOLOGY FUND FIL INVESTMENT MANAGEMENT

(LUXEMBOURG) S.A. A EURO EURO

FIDELITY FUNDS – GREATER CHINA FUND A INC LU0048580855 FIDELITY FUNDS - GREATER CHINA FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

FIDELITY FUNDS – JAPAN FUND A JPY INC LU0048585144 FIDELITY FUNDS - JAPAN FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A JPY JPY

FIDELITY FUNDS – JAPAN SMALLER COMPANIES A INC LU0048587603 FIDELITY FUNDS - JAPAN SMALLER COMPANIES

FUNDFIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A JPY JPY

FIDELITY FUNDS – TAIWAN FUND A INC LU0075458603 FIDELITY FUNDS - TAIWAN FUND FIL INVESTMENT MANAGEMENT (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

FIRST STATE CHINA GROWTH FUND I CLASS IE0008368742 FIRST STATE GLOBAL UMBRELLA FUND PLC - FIRST STATE CHINA GROWTH FUND

FIRST STATE INVESTMENTS (HONG KONG) LIMITED I US DOLLAR US DOLLAR

FIRST STATE GLOBAL RESOURCES FUND CLASS I – USD IE00B1G9TS84 FIRST STATE GLOBAL UMBRELLA FUND PLC -

FIRST STATE GLOBAL RESOURCES FUNDFIRST STATE INVESTMENTS (HONG KONG) LIMITED I US DOLLAR US DOLLAR

HSBC GIF CHINESE EQUITY DIS A LU0039217434HSBC GLOBAL INVESTMENT FUNDS SICAV - HSBC GLOBAL INVESTMENT FUNDS - CHINESE EQUITY

HSBC INVESTMENT FUNDS (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR

HSBC GIF HONG KONG EQUITY DIS P LU0011817854HSBC GLOBAL INVESTMENT FUNDS SICAV - HSBC GLOBAL INVESTMENT FUNDS - HONG KONG EQUITY

HSBC INVESTMENT FUNDS (LUXEMBOURG) S.A. P US DOLLAR US DOLLAR

INVESCO CONTINENTAL EUROPEAN EQUITY FUND C INC IE0030382240 INVESCO FUNDS SERIES - INVESCO

CONTINENTAL EUROPEAN EQUITY FUNDINVESCO GLOBAL ASSET MANAGEMENT DAC C EURO EURO

INVESCO GLOBAL HEALTH CARE C INC IE0003824301 INVESCO FUNDS SERIES 3 - INVESCO GLOBAL HEALTH CARE FUND









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INVESCO GLOBAL TECHNOLOGY FUND C INC IE0003708009 INVESCO FUNDS SERIES 3 - INVESCO GLOBAL TECHNOLOGY FUND


INVESCO JAPANESE EQUITY CORE FUND C DIST USD IE0030382687 INVESCO FUNDS SERIES -

INVESCO JAPANESE EQUITY CORE FUNDINVESCO GLOBAL ASSET MANAGEMENT DAC C US DOLLAR US DOLLAR

INVESTEC GSF GLOBAL ENERGY A INC LU0345779515 INVESTEC GLOBAL STRATEGY FUND -GLOBAL ENERGY FUND

INVESTEC ASSET MANAGEMENT LIMITED A US DOLLAR US DOLLAR

JPMORGAN EMERGING EUROPE EQUITY A (DIST) – EUR LU0051759099 JPMORGAN FUNDS - EMERGING EUROPE

EQUITY FUNDJPMORGAN ASSET MANAGEMENT (EUROPE) S.A’R.L. A EURO EURO

JPM EMERGING MARKETS EQUITY A (DIST) – USD LU0053685615 JPMORGAN FUNDS - EMERGING MARKETS

EQUITY FUNDJPMORGAN ASSET MANAGEMENT (EUROPE) S.A’R.L. A US DOLLAR US DOLLAR

JPM GLOBAL NATURAL RESOURCES A (DIST) – EUR LU0208853514 JPMORGAN FUNDS - GLOBAL NATURAL

RESOURCES FUNDJPMORGAN ASSET MANAGEMENT (EUROPE) S.A’R.L. A EURO EURO

JPM US TECHNOLOGY A (DIST) – USD LU0082616367 JPMORGAN FUNDS - JPMORGAN FUNDS - US TECHNOLOGY FUND

JPMORGAN ASSET MANAGEMENT (EUROPE) S.A’R.L. A US DOLLAR US DOLLAR

JPMORGAN EASTERN FUND HK0000055639 JPMORGAN EASTERN FUND JPMORGAN FUNDS (ASIA) LIMITED N/A US DOLLAR US DOLLAR

JPM FUNDS – GREATER CHINA A (DIST) USD LU0117841782 JPMORGAN FUNDS - GREATER CHINA FUND JPMORGAN ASSET MANAGEMENT

(EUROPE) S.A’R.L. A US DOLLAR US DOLLAR

JPMORGAN FUNDS – JPM GLOBAL NATURAL RESOURCES A (ACC) - USD LU0266512127 JPMORGAN FUNDS - GLOBAL NATURAL

RESOURCES FUNDJPMORGAN ASSET MANAGEMENT (EUROPE) S.A’R.L. A US DOLLAR US DOLLAR

JPM FUNDS – TAIWAN A (ACC) USD LU0210528419 JPMORGAN FUNDS - TAIWAN FUND JPMORGAN ASSET MANAGEMENT (EUROPE) S.A’R.L. A US DOLLAR US DOLLAR

JPMORGAN INDIA FUND MU0129U00005 JPMORGAN INDIA FUND JPMORGAN ASSET MANAGEMENT (EUROPE) S.A’R.L. N/A US DOLLAR US DOLLAR

JPMORGAN INDONESIA – USD HK0000055662 JPMORGAN INDONESIA FUND JPMORGAN FUNDS (ASIA) LIMITED N/A US DOLLAR US DOLLAR

JPMORGAN KOREA FUND HK0000055712 JPMORGAN KOREA FUND JPMORGAN FUNDS (ASIA) LIMITED N/A US DOLLAR US DOLLAR

JPMORGAN THAILAND FUND HK0000055787 JPMORGAN THAILAND FUND JPMORGAN FUNDS (ASIA) LIMITED N/A US DOLLAR US DOLLAR








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JUPITER JGF GLOBAL FINANCIALS L EUR ACC LU0262307480 THE JUPITER GLOBAL FUND - JUPITER GLOBAL FINANCIALS

JUPITER UNIT TRUST MANAGERS LIMITED L EURO EURO

JUPITER INDIA SELECT CLASS L – EUR LU0329070915 THE JUPITER GLOBAL FUND - JUPITER INDIA SELECT

JUPITER UNIT TRUST MANAGERS LIMITED L EURO EURO

JUPITER INDIA SELECT CLASS L – GBP LU0329071053 THE JUPITER GLOBAL FUND - JUPITER INDIA SELECT


JUPITER INDIA SELECT CLASS L – USD LU0365089902 THE JUPITER GLOBAL FUND - JUPITER INDIA SELECT

JUPITER UNIT TRUST MANAGERS LIMITED L US DOLLAR US DOLLAR

PARVEST EQUITY RUSSIA OPPORTUNITY CLASSIC - CAPITALISATION - USD LU0265268689 PARVEST - PARVEST EQUITY

RUSSIA OPPORTUNITIESBNP PARIBAS ASSET MANAGEMENT LUXEMBOURG

CLASSIC CAPITALISATION US DOLLAR US DOLLAR

TEMPLETON ASIAN GROWTH FUND A ACC – EUR LU0229940001 FRANKLIN TEMPLETON INVESTMENT FUNDS -

TEMPLETON ASIAN GROWTH FUNDFRANKLIN TEMPLETON INTERNATIONAL SERVICES S.A.R.L. A EURO EURO

TEMPLETON ASIAN GROWTH FUND A ACC – USD LU0128522157 FRANKLIN TEMPLETON INVESTMENT

FUNDS - TEMPLETON ASIAN GROWTH FUNDFRANKLIN TEMPLETON INTERNATIONAL SERVICES S.A.R.L. A US DOLLAR US DOLLAR

TEMPLETON BRIC A ACC LU0229945570 FRANKLIN TEMPLETON INVESTMENT FUNDS - TEMPLETON BRIC FUND


TEMPLETON GLOBAL CLIMATE CHANGE FUND A DIS LU0029873410 FRANKLIN TEMPLETON INVESTMENT FUNDS -

TEMPLETON GLOBAL CLIMATE CHANGE FUNDFRANKLIN TEMPLETON INTERNATIONAL SERVICES S.A.R.L. A EURO EURO

VALUE PARTNERS CHINA CONVERGENCE ACC FUND - USD KYG9317Q1047 VALUE PARTNERS INTELLIGENT FUNDS -

CHINA CONVERGENCE FUND VALUE PARTNERS LIMITED A US DOLLAR US DOLLAR

VALUE PARTNERS CLASSIC FUND C CLASS HK0000264884 VALUE PARTNERS CLASSIC FUND VALUE PARTNERS HONG KONG LIMITED C US DOLLAR US DOLLAR

SRRI RATING 7

BGF WORLD GOLD A2 USD ACC LU0055631609 BLACKROCK GLOBAL FUNDS - WORLD GOLD FUND BLACKROCK (LUXEMBOURG) S.A. A2 US DOLLAR US DOLLAR

BGF WORLD GOLD HEDGED A2 SGD LU0368265764 BLACKROCK GLOBAL FUNDS - WORLD GOLD FUND BLACKROCK (LUXEMBOURG) S.A. A2 SINGAPORE

DOLLAR SINGAPORE

DOLLAR

HSBC GIF BRAZIL EQUITY A ACC LU0196696453HSBC GLOBAL INVESTMENT FUNDS SICAV -HSBC GLOBAL INVESTMENT FUNDS - BRAZIL EQUITY

HSBC INVESTMENT FUNDS (LUXEMBOURG) S.A. A US DOLLAR US DOLLAR


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How tocontact us

INTERNATIONAL SALES & HEAD OFFICE

Generali Worldwide Insurance Company LimitedPO Box 613, Generali House, Hirzel Street,St Peter Port, Guernsey, Channel Islands GY1 4PA.T +44 (0) 1481 714 108F +44 (0) 1481 712 [email protected]

HONG KONG

Generali Worldwide Insurance Company Limited Unit 2402B, Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong.T +852 2526 1899 F +852 2537 2587 [email protected]

The appointed representative of the Company in Hong Kong is Generali Worldwide Insurance Company Limited’s regional office.

Generali Worldwide Insurance Company Limited, Hong Kong Branch Unit 2402B, Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong.

Registered in Hong Kong under Branch Registration No. F0002858. Authorized to carry on Class C Linked long-term insurance business by the Insurance Authority of Hong Kong.

T +852 2526 1899 F +852 2537 2587 [email protected]

Registered Head Office address: Generali Worldwide Insurance Company Limited, Generali House, Hirzel Street, St Peter Port, Guernsey, Channel Islands GY1 4PA.

Incorporated in Guernsey under Company Registration No. 27151.

T +44 (0) 1481 715 400 F +44 (0) 1481 715 390

[email protected]

generali-worldwide.com

Regulated in Guernsey as a licensed insurer by the Guernsey Financial Services Commission under the Insurance Business (Bailiwick of Guernsey) Law, 2002 (as amended).

Generali Worldwide Insurance Company Limited is part of the Generali Group, listed in the Italian Insurance Group Register under number 026.

Websites may make reference to products that are not authorized or regulated and/or are not available for offering to planholders in certain jurisdictions.

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Generali Worldwide Insurance Company Limited. Unit 2402B, Great Eagle Centre, 23 Harbour Road, Wanchai, Hong Kong. T +852 2526 1899 F +852 2537 2587 [email protected] generali-worldwide.com

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Registered in Hong Kong under Branch Registration No. F0002858. Authorized to carry on Class C Linked long-term insurance business by the Office of the Commissioner of Insurance in Hong Kong. Registered Head Office address: Generali Worldwide Insurance Company Limited, Generali House, Hirzel Street, St Peter Port, Guernsey, Channel Islands GY1 4PA. Incorporated in Guernsey under Company Registration No. 27151. Regulated in Guernsey as a licensed insurer by the Guernsey Financial Services Commission under the Insurance Business (Bailiwick of Guernsey) Law, 2002 (as amended). Generali Worldwide Insurance Company Limited is part of the Generali Group, listed in the Italian Insurance Group Register under number 026.

30th July 2018 Planholder Number Dear Planholder, Vision, Choice and Select (collectively the “Schemes”) Invesco Global Technology Fund C Inc (the “Investment Option”) available under the Schemes - Notification of termination and withdrawal of the authorisation of the Investment Option for the public in Hong Kong - Notification of proposed switch to Fidelity Funds – Global Technology Fund A - Acc USD (Hedged) This notice is important and requires your immediate attention. Please read this letter carefully and seek independent professional advice should you have any questions about the content. Generali Worldwide Insurance Company Limited (“Generali Worldwide”) accepts responsibility for the accuracy of the content of this notice. We are writing to notify you of the decision taken by the Funds Investment Committee of Generali Worldwide Insurance Company Limited (Generali Worldwide) to terminate and withdraw, the authorisation from the SFC of, the above-mentioned Investment Option on 31st August 2018 (“the Effective Date”) WHY IS THIS HAPPENING? The Board of Directors (the “Directors”) of Invesco Global Asset Management DAC have informed Generali Worldwide that they intend to merge Invesco Funds Series 3 - Invesco Global Technology Fund (the “Merging Sub-fund”) being the underlying fund corresponding to the Investment Option (which is available under the Schemes), into the sub-fund of Invesco Funds, namely Invesco US Equity Fund (the “Receiving Sub-fund”). The merger is subject to shareholder approval of the Merging Sub-fund at an Extraordinary General Meeting (EGM) to be held on 13th August 2018. The rationale for the merger given by the Directors is: “The Merging Sub-fund is a sector allocation fund that invests in technology companies throughout the world, principally in the US. The Receiving Sub-fund invests in US equities with no sector bias. It is envisaged that clients of the Merging Sub-fund, should they vote in favour of the merger proposal, should be able to benefit from a distinct active strategy in a core asset class, diversification across sectors with potential for improved risk-adjusted performance over time. In addition, the larger pool of assets should help reduce the on-going charges figures over time.”

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As the Receiving Sub-fund is not available as an underlying fund corresponding to an investment option under the Schemes, the Funds Investment Committee (FIC) of Generali Worldwide have decided to terminate and withdraw authorisation of the Investment Option without waiting for the result of the EGM. The FIC has identified a suitable alternative investment option, as a default switch option for the terminating Investment Option, namely Fidelity Funds – Global Technology Fund A - Acc USD (Hedged), which is available under the Schemes. We select a default switch option for a terminating investment option based on various factors including but not limited to its investment objective, fee structure and denominated currency. See below for more details of this investment option and its corresponding underlying fund. The Investment Option will be terminated for the public in Hong Kong with effect from 31st August 2018, pursuant to the paragraph headed “Withdrawal of an investment option” in the Terms and Conditions of the Schemes. Authorisation of the Investment Option from the SFC will be withdrawn with effect from 31st August 2018. There is no cost to you associated with the termination and withdrawal of authorisation of the Investment Option. Generali Worldwide will bear any associated costs. Generali Worldwide no longer accepts any request for a new subscription into the Investment Option or any new request for (i) a switch instruction to switch existing notional units from other investment options, or (ii) a redirection instruction to re-direct future regular premium contributions into the Investment Option. However, ongoing payments with respect to regular premium contributions from planholders who have selected the Investment Option in their existing regular premium allocation instruction will, unless you instruct us to change your existing regular premium allocation (see further below), continue to be allocated into the Investment Option until 29th August 2018. If you have an existing balance in the Investment Option and/or selected the Investment Option under your existing premium allocation instruction, you can transfer your existing balance in the Investment Option to another investment option available under the Schemes and/or change your current premium allocation instruction by submitting a switch and/or redirection instruction to us without any charges. If no response is received by us by 6pm Hong Kong time on 29th August 2018 pursuant to the above, a) your existing premium allocation instruction for the Investment Option (if any) will be AUTOMATICALLY re-directed to Fidelity Funds – Global Technology Fund A - Acc USD (Hedged), on 30th August 2018 free of charge and; b) your existing balance of notional units in the Investment Option (if any) will be AUTOMATICALLY transferred to Fidelity Funds – Global Technology Fund A - Acc USD (Hedged), on the 30th August 2018 free of charge. The switch will be free of any bid and offer spread and no switch fee will apply. A switch statement detailing the transaction will be sent to you as soon as possible thereafter. If you are content to have your notional units in the Investment Option switched, and where appropriate further premiums redirected, into the Fidelity Funds – Global Technology Fund A -Acc USD (Hedged), effective from 30th August 2018 you need take no further action.

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Fidelity Funds – Global Technology Fund A - Acc USD (Hedged) Fidelity Funds – Global Technology Fund A - Acc USD (Hedged), into which switching and re-direction from the Investment Option is proposed, is an Equity Technology Fund and is denominated in the same currency (USD) as the Investment Option. Both the Investment Option and Fidelity Funds – Global Technology Fund A - Acc USD (Hedged) are daily dealing. The annual management charge for the underlying fund corresponding to the Investment Option is 1.00% per annum of the net asset value. However, please note that the annual management charge for the underlying fund corresponding to Fidelity Funds – Global Technology Fund A - Acc USD (Hedged) is 1.50% per annum of the net asset value. The underlying fund corresponding to Fidelity Funds – Global Technology Fund A - Acc USD (Hedged), is Fidelity Funds – Global Technology Fund (the “Underlying Fund”). For your information, we have set out below some details of the Underlying Fund: Management Company

Assets Under Management (AUM) as at 31st May 2018

Currency Share Class

Summary of Investment Objective

FIL Investment Management (Luxembourg) S.A.

USD 3,608 million

USD A The objective of the Underlying Fund is to provide long-term capital growth with the level of income expected to be low. At least 70% invested in the shares of companies throughout the world that will provide, or benefit significantly from, technological advances and improvements in relation to products, processes or services.

The latest available factsheet for the Underlying Fund is enclosed. Full details (including investment objective, risk factors and the relevant fees and charges) can be found in the fund prospectus, a copy of which is available on request from Generali Worldwide. ALTERNATIVE INVESTMENT OPTIONS FOR INVESTORS If you would prefer to select another investment option from our extensive range, full details of these investment options together with the latest available performance information may be viewed on our website www.generali-worldwide.com/wealth-management under the ‘Investment Options’ tab. Alternatively, printed copies are available upon request. The list of available investment options is also contained in the Investment Options Brochure for the Schemes.

http://www.generali-worldwide.com/

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An instruction choosing an alternative investment option must be received by us, from you, on or before 6pm Hong Kong time 29th August 2018. Otherwise your current holding will be transferred to the default investment option as set out above. Switch requests to alternative investment options may be subject to a bid and offer spread on the new investment option selected. Where currency conversions apply, a prevailing commercial rate of exchange will be used. Investors who wish to select an alternative investment option can do so online via our Service Centre. Alternatively, you can complete and return, by fax or post, the standard ‘Alteration of Funds Form’, a copy of which is available on the Generali Worldwide website. IMPORTANT NOTES TO INVESTORS In selecting alternate investment options, planholders are asked to note that all investments involve risks and can have very different risk profiles. For this reason, we strongly recommend that you read the Investment Options Brochure of the Schemes and Fund Selection and Performance information of the corresponding underlying fund carefully. Full details for each underlying fund corresponding to an investment option (including, without limitation, their investment objectives and policies, risk factors and charges) can be found in the relevant Fund Prospectus, copies of which are available on request from Generali Worldwide. You may also wish to consult your financial adviser. For Hong Kong planholders, please note that our website may contain investment options not available to Hong Kong planholders. These are clearly marked as ‘NOT AUTHORISED IN HK’ in the relevant materials. If you have any further questions, please do not hesitate to contact your financial adviser. Alternatively, our staff based in Guernsey at [email protected] will be pleased to help. Investors in Hong Kong may contact our Administration Team in Hong Kong at HKGeneralEnquiries@generali-w orldw ide.com or +852 2526 1899. Yours Sincerely

Derek Mollison Manager, Operations Ireland

mailto:[email protected]




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Registered in Hong Kong under Branch Registration No. F0002858. Authorized to carry on Class C Linked long-term insurance business by the Office of the Commissioner of Insurance in Hong Kong. Registered Head Office address: Generali Worldwide Insurance Company Limited, Generali House, Hirzel Street, St Peter Port, Guernsey, Channel Islands GY1 4PA. Incorporated in Guernsey under Company Registration No. 27151. Regulated in Guernsey as a licensed insurer by the Guernsey Financial Services Commission under the Insurance Business (Bailiwick of Guernsey) Law, 2002 (as amended). Generali Worldwide Insurance Company Limited is part of the Generali Group, listed in the Italian Insurance Group Register under number 026.

13th July 2018 Planholder Number Dear Planholder, Vision, Choice and Select (collectively the “Schemes”) HSBC GIF US Dollar Bond Dis P (the “Investment Option”) available under the Schemes - Notification of termination and withdrawal of the authorisation of the Investment Option for the public in Hong Kong - Notification of proposed switch to Jupiter Global Fund – Jupiter Dynamic Bond Class L USD Acc Hsc This notice is important and requires your immediate attention. Please read this letter carefully and seek independent professional advice should you have any questions about the content. Generali Worldwide Insurance Company Limited (“Generali Worldwide”) accepts responsibility for the accuracy of the content of this notice. Generali Worldwide’s Fund Investment Committee reviews investment options under the Schemes available to planholders on a regular basis. This assessment includes a review of risk adjusted investment performance over certain time periods. After comparing its risk adjusted performance with other investment options which are also primarily invested in US Dollar bonds and considering the overall interest of the planholders, we have decided to terminate the Investment Option. The Investment Option will be terminated for the public in Hong Kong with effect from 28th August 2018, pursuant to the paragraph headed “Withdrawal of an investment option” in the Terms and Conditions of the Schemes. Authorisation of the Investment Option from the SFC will be withdrawn with effect from 28th August 2018. There is no cost to you associated with the termination and the withdrawal of authorisation of the Investment Option. Generali Worldwide will bear any associated costs. Generali Worldwide no longer accepts any request for a new subscription into the Investment Option or any new request for (i) a switch instruction to switch existing notional units from other investment options, or (ii) a redirection instruction to re-direct future regular premium contributions into the Investment Option. However, ongoing payments with respect to regular premium contributions from planholders who have selected the Investment Option in their existing regular premium allocation instruction will, unless you instruct us to change your existing regular premium allocation (see further below), continue to be allocated into the Investment Option until 24th August 2018.

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The Funds Investment Committee of Generali Worldwide has selected as the default switch the following alternative investment option: Jupiter Global Fund – Jupiter Dynamic Bond Class L USD Acc Hsc. We select a default switch option for a terminating investment option based on various factors including but not limited to its investment objective, fee structure and denominated currency. See below for more details of this investment option and its corresponding underlying fund. If you have an existing balance in the Investment Option and/or selected the Investment Option under your existing premium allocation instruction, you can transfer your existing balance to other investment option available under the Schemes and/or change your current premium allocation instruction by submitting a switch and/or redirection instruction, to us without any charges. If no response is received by us by 6pm Hong Kong time on 24th August 2018 pursuant to the above, a) your existing premium allocation instruction for the Investment Option (if any) will be AUTOMATICALLY re-directed to Jupiter Global Fund – Jupiter Dynamic Bond Class L USD Acc Hsc on 27th August 2018 free of charge and; b) your existing balance of notional units in the Investment Option (if any) will be AUTOMATICALLY transferred to Jupiter Global Fund – Jupiter Dynamic Bond Class L USD Acc Hsc on the 27th August 2018 free of charge. The disinvestment of notional units of the Investment Option will be effected using its respective bid price of 27th August 2018. The proceeds will be invested into Jupiter Global Fund – Jupiter Dynamic Bond Class L USD Acc Hsc, using its respective bid price of 27th August 2018. A switch statement detailing the transaction will be sent to you as soon as possible thereafter. If you are content to have your notional units in the Investment Option switched, and where appropriate further premiums redirected, into the Jupiter Global Fund – Jupiter Dynamic Bond Class L USD Acc Hsc effective from 27th August 2018 you need take no further action. Jupiter Global Fund – Jupiter Dynamic Bond Class L USD Acc Hsc Jupiter Global Fund – Jupiter Dynamic Bond Class L USD Acc Hsc, into which switching and re-direction from the Investment Option is proposed, is a bond fund and is denominated in the same currency (USD) as the Investment Option. Both the Investment Option and Jupiter Global Fund – Jupiter Dynamic Bond Class L USD Acc Hsc are daily dealing. The Annual Management Charge for the underlying fund corresponding to the Investment Option is 0.5% per annum of the net asset value. However, please note that the annual management charge for the underlying fund corresponding to Jupiter Global Fund – Jupiter Dynamic Bond Class L USD Acc Hsc is 1.25% per annum of the net asset value. The underlying fund corresponding to Jupiter Global Fund – Jupiter Dynamic Bond Class L USD Acc Hsc is Jupiter Dynamic Bond, a sub-fund of The Jupiter Global Fund (“the Underlying Fund”). For your information, we have set out below some details of the Underlying Fund:

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Management Company

Assets Under Management (AUM) as at 31st May 2018



Jupiter Unit Trust Managers Limited

EUR 8,506 Million USD L USD The objective of the Underlying Fund is to achieve a high income with the prospect of capital growth from a portfolio of investments in global fixed interest securities.

The latest available factsheet for the Underlying Fund is enclosed. Full details for the Underlying Fund (including investment objective, risk factors and the relevant fees and charges) can be found in the relevant fund prospectus, copies of which are available on request from Generali Worldwide. ALTERNATIVE INVESTMENT OPTIONS FOR INVESTORS If you would prefer to select another investment option from our extensive range, full details of these investment options together with the latest available performance information may be viewed on our website www.generali-worldwide.com/wealth-management under the ‘Investment Options’ tab. Alternatively, printed copies are available upon request. The list of available investment options is also contained in the Investment Options Brochure for the Schemes. An instruction choosing an alternative investment option must be received by us, from you, on or before 6pm Hong Kong time 24th August 2018. Otherwise your current holding will be transferred to the default investment option as set out above and future premiums, where applicable, will be similarly redirected. Switch requests and allocation of premiums into alternative investment options may be subject to a bid and offer spread on the new investment option selected. Where currency conversions apply, a prevailing commercial rate of exchange will be used. Investors who wish to select an alternative investment option can do so online via our Service Centre. Alternatively, you can complete and return, by fax or post, the standard ‘Alteration of Funds’ form, a copy of which is available on the Generali Worldwide website. IMPORTANT NOTES TO INVESTORS In selecting alternative investment options, planholders are asked to note that all investments involve risks and can have very different risk profiles. For this reason, we strongly recommend that you read the Investment Options Brochure of the Schemes and Fund Selection and Performance information of the corresponding underlying funds carefully. Full details for each underlying fund corresponding to an investment option (including, without limitation, their investment objectives and policies, risk factors and charges) can be found in the relevant Fund Prospectus, copies of which are available on request from Generali Worldwide. You may also wish to consult your financial adviser.


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For Hong Kong Planholders, please note that our website may contain investment options not available to Hong Kong investors. These are clearly marked as ‘NOT AUTHORISED IN HK’ in the relevant materials. If you have any further questions, please do not hesitate to contact your financial adviser. Alternatively, you can contact our Administration Team in our Hong Kong office at [email protected] or +852 2526 1899. Yours Sincerely





6th September 2018 Planholder Number Dear Planholder, Vision, Choice and Select (collectively the “Schemes”) JPM Singapore Fund USD (the “Investment Option”) available under the Schemes - Notification of termination and withdrawal of the authorisation of the Investment Option for the public in Hong Kong - Notification of proposed switch to Schroder ISF US Dollar Liquidity Fund A Acc USD This notice is important and requires your immediate attention. Please read this letter carefully and seek independent professional advice should you have any questions about the content. Generali Worldwide Insurance Company Limited (“Generali Worldwide”) accepts responsibility for the accuracy of the content of this notice. We are writing to notify you that we will terminate and withdraw the authorisation of the Investment Option on 8th October 2018. WHY IS THIS HAPPENING? We have been advised by J.P. Morgan Asset Management, that they have decided to cease marketing of JPMorgan Funds – Singapore Fund, which is the underlying fund corresponding to the Investment Option (the “Underlying Fund”) to the public in Hong Kong in future and apply to the Securities and Futures Commission (the “SFC”) for withdrawal of the authorisation of the Underlying Fund. Please see below for more details. Why did J.P. Morgan Asset Management apply to the SFC for withdrawal of authorisation of the Underlying Fund? According to the notice from J.P. Morgan Asset Management, they anticipate a prospective merger of the Underlying Fund with another sub-fund of JPMorgan Funds, for which authorisation is currently not, and will not be sought from the SFC in Hong Kong. As a result, the marketing activities relating to the public in Hong Kong for the Underlying Fund, have ceased and the SFC authorisation of the Underlying Fund will be withdrawn with effect from 8th October 2018. In view of the above, the Investment Option will be terminated for the public in Hong Kong with effect from 8th October 2018, pursuant to the paragraph headed “Withdrawal of an investment option” in the Terms and Conditions of the Schemes. Authorisation of the Investment Option from the SFC will be withdrawn with effect from 8th October 2018. There is no cost to you associated with the termination and withdrawal of authorisation of the Investment Option. Generali Worldwide will bear any associated costs. As there is no direct equivalent replacement option on the Generali Worldwide platform for the terminating Investment Option, the Funds Investment Committee of Generali Worldwide has selected

as the default switch option the following investment option: Schroder ISF US Dollar Liquidity Fund A Acc USD. We select a default switch option for a terminating investment option based on various factors including but not limited to its investment objective, fee structure and denominated currency. See below for more details of this investment option and its corresponding underlying fund. Generali Worldwide no longer accepts any request for a new subscription into the Investment Option or any new request for (i) a switch instruction to switch existing notional units from other investment options, or (ii) a redirection instruction to re-direct future regular premium contributions into the Investment Option. However, ongoing payments with respect to regular premium contributions from planholders who have selected the Investment Option in their existing regular premium allocation instruction will, unless you instruct us to change your existing regular premium allocation (see further below), continue to be allocated into the Investment Option until 4th October 2018. If you have an existing balance in the Investment Option and/or selected the Investment Option under your existing premium allocation instruction, you can transfer your existing balance in the Investment Option to another investment option available under the Schemes and/or change your current premium allocation instruction by submitting a switch and/or redirection instruction to us without any charges. If no response is received by us by 6pm Hong Kong time on 4th October 2018 pursuant to the above, a) your existing premium allocation instruction for the Investment Option (if any) will be AUTOMATICALLY re-directed to Schroder ISF US Dollar Liquidity Fund A Acc USD on 5th October 2018 free of charge and; b) your existing balance of notional units in the Investment Option (if any) will be AUTOMATICALLY transferred to Schroder ISF US Dollar Liquidity Fund A Acc USD on the 5th October 2018 free of charge. The switch will be free of any bid and offer spread and no switch fee will apply. A switch statement detailing the transaction will be sent to you as soon as possible thereafter. If you are content to have your notional units in the Investment Option switched, and where appropriate further premiums redirected, into the Schroder ISF US Dollar Liquidity Fund A Acc USD effective from 5th October 2018 you need take no further action. Schroder ISF US Dollar Liquidity Fund A Acc USD Schroder ISF US Dollar Liquidity Fund A Acc USD, into which switching and re-direction from the Investment Option is proposed, is a money market fund and is denominated in the same currency (USD) as the Investment Option. Both the Investment Option and Schroder ISF US Dollar Liquidity Fund A Acc USD are daily dealing. The annual management charge for the underlying fund corresponding to the Investment Option is 1.50% per annum of the net asset value. However, please note that the annual management charge for the underlying fund corresponding to Schroder ISF US Dollar Liquidity Fund A Acc USD is 0.20% per annum of the net asset value. The underlying fund corresponding to the Schroder ISF US Dollar Liquidity Fund A Acc USD is the Schroder International Selection Fund – US Dollar Liquidity (the ”Schroder USD Liquidity”). For your information, we have set out below some details of the Schroder USD Liquidity:

Management Company

Assets Under Management (AUM) as at 31st July 2018



Schroder Investment Management (Luxembourg)S.A.

USD 670 million

USD A(Acc) The Schroder USD Liquidity aims to mitigate losses in falling markets, as well as to provide income by investing in short-term bonds that are denominated in USD. The mitigation of losses cannot be guaranteed.

The latest available factsheet for the Schroder USD Liquidity is enclosed. Full details (including investment objective, risk factors and the relevant fees and charges) can be found in the relevant fund prospectus, a copy of which is available on request from Generali Worldwide. ALTERNATIVE INVESTMENT OPTIONS FOR INVESTORS If you would prefer to select another investment option from our extensive range, full details of these investment options together with the latest available performance information may be viewed on our website www.generali-worldwide.com/wealth-management under the ‘Investment Options’ tab. Alternatively, printed copies are available upon request. The list of available investment options is also contained in the Investment Options Brochure for the Schemes. An instruction choosing an alternative investment option must be received by us, from you, on or before 6pm Hong Kong time 4th October 2018. Otherwise your current holding will be transferred to the default investment option as set out above. Switch requests to alternative investment options may be subject to a bid and offer spread on the new investment option selected. Where currency conversions apply, a prevailing commercial rate of exchange will be used. Investors who wish to select an alternative investment option can do so online via our Service Centre. Alternatively, you can complete and return, by fax or post, the standard ‘Alteration of Funds Form’, a copy of which is available on the Generali Worldwide website. IMPORTANT NOTES TO INVESTORS In selecting alternate investment options, planholders are asked to note that all investments involve risks and can have very different risk profiles. For this reason, we strongly recommend that you read the Investment Options Brochure of the Schemes and Fund Selection and Performance information of the corresponding underlying fund carefully. Full details for each underlying fund corresponding to an investment option (including, without limitation, their investment objectives and policies, risk factors and charges) can be found in the relevant Fund Prospectus, copies of which are available on request from Generali Worldwide. You may also wish to consult your financial adviser.


For Hong Kong planholders, please note that our website may contain investment options not available to Hong Kong planholders. These are clearly marked as ‘NOT AUTHORISED IN HK’ in the relevant materials. If you have any further questions, please do not hesitate to contact your financial adviser. Alternatively, our staff based in Guernsey at [email protected] will be pleased to help. Investors in Hong Kong may contact our Administration Team in Hong Kong at HKGeneralEnquiries@generali-w orldw ide.com or +852 2526 1899. Yours Sincerely



