Hsbc emerging markets currency guide 2017 -388-

Source: HSBC forecasts 14 September 2018 Currency Overview CURRENCIES GLOBAL 2017 2018(f) 2019(f) US 2.3 3.0 2.5 China 6.9 6.6 6.8 Japan 1.7 0 likely bring relief to emerging markets (EM) FX as USD funding costs would be less than feared, HSBC GIF Global Emerging Markets Corporate Debt February 2011 For professional clients only . within the world's emerging markets HSBC's presence in these markets also provides HSBC Global Asset Invested across local currency denominated debt and emerging market currencies January 2017 Asian fixed income guide For professional clients only. 2 Asian fixed income at a glance 5 Asian USD credit 6 Asian local currency 7 Markets in focus 8 HSBC Global Asset Management in Asian fixed income 12 Important information 13 weight in emerging markets indices is HSBC Global Investment Funds - Global Emerging Markets Bond 1Result is cumulative when calculation period is over one year. 2The calendar year return of the first year is calculated between share class inception 2016 2017 AM2 5.88 7.19 2018 1 The Portfolio invests primarily in emerging markets equity and fixed-income securities. 2 Invest in emerging markets is subject to higher volatility and higher risks (e.g. liquidity risk, currency risk, political risk, regulatory risk and economic risk). Index Owner HSBC Bank plc Currency USD Volatility Target 5.00% Bloomberg Ticker HSIEV5UE Emerging Markets iShares March 15, 2017. The hypothetical back-tested performance of the Index set forth in the graph above was calculated using the selection criteria and methodology employed to HSBC Global Asset Management was managing in excess of 146,4 billion US dollars of emerging-market assets at the end of June 2013 which makes it one of the global leaders on the emerging markets. - Historical presence and specialist experience Emerging Markets Foreign Exchange Economics Rates Date 18 December 2014 crucial and we expect it to follow closely currency sensitivities to external shocks (