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| 施罗德亚洲高息股债M(968013) 基金公开信息 | |||||||||
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| 流水号 | 2568980 | ||||||||
| 基金代码 | 968013 | ||||||||
| 公告日期 | 2021-10-30 | ||||||||
| 编号 | 1 | ||||||||
| 标题 | 施罗德亚洲高息股债基金2021年年度财务报告(20210630) | ||||||||
| 信息全文 | Schroder Asian Asset Income Fund 施罗德亚洲高息股债基金 (A Sub-Fund of Schroder Umbrella Fund II) (施罗德伞型基金 II的子基金 ) Annual Report and Financial Statements 年度报告及财务报表 For the year ended 30th June 2021 二零二一年六月三十日止年度 SP_AAIAR_OCT21 Schroder Asian Asset Income Fund (A Sub-Fund of Schroder Umbrella Fund II) Annual Report and Financial Statements June 2021 施罗德亚洲高息股债基金 ( 施罗德伞型基金 II 的子基金 ) 年度报告及财务报表 Schroder Investment Management (Hong Kong) Limited 二零二一年六月 Level 33, Two Pacific Place, 88 Queensway, Hong Kong Tel: +852 2521 1633 Fax: +852 2530 9095 施罗德投资管理（香港）有限公司 香港金钟道 88号太古广场二座 33字楼 电话：+852 2521 1633?传真：+852 2530 9095 施罗德亚洲高息股债基金 Manager Schroder Investment Management (Hong Kong) Limited Level 33 Two Pacific Place 88 Queensway Hong Kong Telephone: 2521 1633 Hotline: 2869 6968 Fax: 2530 9095 Home Page: http://www.schroders.com.hk Trustee and Registrar HSBC Institutional Trust Services (Asia) Limited 1 Queen’s Road Central Hong Kong Prior to 1st July 2020 Registrar’s Service Provider HSBC Continental Europe, Luxembourg (formerly known as HSBC France, Luxembourg Branch) 16 Boulevard d’Avranches L-1160 Luxembourg With effect from 1st July 2020 Registrar’s Service Provider The Hongkong and Shanghai Banking Corporation Limited 1 Queen’s Road Central Hong Kong Auditor PricewaterhouseCoopers Certified Public Accountants 22/F Prince’s Building Central Hong Kong 基金管理人 施罗德投资管理（香港）有限公司 香港金钟道88号 太古广场二座33字楼 电话：2521 1633 热线：2869 6968 图文传真：2530 9095 网页：http://www.schroders.com.hk 受托人及注册登记机构 汇丰机构信托服务（亚洲）有限公司 香港中环皇后大道中1号 在二零二零年七月一日之前 注册登记机构之服务提供者 HSBC Continental Europe, Luxembourg (formerly known as HSBC France, Luxembourg Branch) 16 Boulevard d’Avranches L-1160 Luxembourg 由二零二零年七月一日起生效 注册登记机构之服务提供者 香港上海汇丰银行有限公司 香港中环皇后大道中1号 审计师 罗兵咸永道会计师事务所 香港 中环太子大厦二十二楼 Schroder Asian Asset Income Fund (A Sub-Fund of Schroder Umbrella Fund II) 施罗德亚洲高息股债基金 （施罗德伞型基金II的子基金） Schroder Asian Asset Income Fund Schroder Asian Asset Income Fund (A Sub-Fund of Schroder Umbrella Fund II) 施罗德亚洲高息股债基金 （施罗德伞型基金II的子基金） Solicitor Deacons 5/F, Alexandra House 18 Chater Road Central Hong Kong Further information Schroders is a Foreign Account Tax Compliance Act (“FATCA”) compliant organisation. Please find the FATCA classification of this entity and its Global Intermediary Identification Number (“GIIN”) below. FATCA entity classification: Nonreporting IGA FFI / Registered Sponsored Investment Entity Sponsored entity GIIN: IV2GGD.00030.SF.344 Sponsoring entity: Schroder Investment Management (Hong Kong) Limited 律师 的近律师行 香港中环遮打道18号 历山大厦5楼 额外资讯 施罗德乃合规美国《海外帐户税收合规法案》 （「FATCA」）机构。其FATCA类别及其机构的美国 全球中介人识别码（「GIIN」）如下。 FATCA机构类别：在跨政府协议下免申报的海外 金融机构╱注册资助机构 资助机构的GIIN：IV2GGD.00030.SF.344 发行机构：施罗德投资管理（香港）有限公司 施罗德亚洲高息股债基金 Contents 目录 Pages 页次 Manager’s report 基金管理人报告 1 Manager’s certificate 基金管理人证明书 8 Trustee’s report 受托人报告 9 Independent auditor’s report 独立审计师报告 10 Statement of financial position 财务状况报表 17 Statement of comprehensive income 全面收益报表 19 Statement of changes in net assets attributable to unitholders 分配给份额持有人净资产变动报表 21 Statement of cash flows 现金流量表 27 Notes to the financial statements 财务报表之注釋 29 Investment portfolio (Unaudited) 基金投资组合（未经审核） 144 Investment portfolio movements (Unaudited) 投资组合变动（未经审核） 165 Details in respect of financial derivative instruments (Unaudited) 金融衍生工具的详情（未经审核） 189 Information on exposure arising from financial derivative instruments (Unaudited) 有关金融衍生工具所产生的风险承担的资料（未经审核） 190 Holdings of collateral (Unaudited)?所持有的抵押品（未经审核） 191 Performance table (Unaudited) 业绩表（未经审核） 192 Schroder Asian Asset Income Fund 施罗德亚洲高息股债基金 (A Sub-Fund of Schroder Umbrella Fund II) （施罗德伞型基金II的子基金） Reports and Financial Statements 年报及财务报表 For the year ended 30th June 2021 二零二一年六月三十日止年度 1 Schroder Asian Asset Income Fund Manager’s Report 基金管理人报告 Market Review In the second half of 2020, global equities rebounded from previous lows resulted from the spread of COVID-19, with central banks stepping in to provide unprecedented levels of monetary support through rate cuts and quantitative easing. The easing of Covid-19 lockdowns and early signs of economic recovery also saw risk appetites returning rapidly, supporting both equity and credit markets. Asian equities continued its rise in 3Q20 owing to continued strong government support measures, the ongoing economic recovery and US dollar weakness. China also posted strong economic data and Q2 earnings results. However, tensions with US escalated, particularly in relation to Chinese internet names. In fixed income, government bonds reflected the contending forces in markets. Optimism over supportive policy and signs of economic recovery were pitted against continued fears over new Covid-19 infections. The US 10-year treasury yield ended at 0.68%, three basis points (bps) higher over the quarter. Corporate bonds enjoyed a positive quarter, as riskier assets were broadly buoyant and monetary policy helped anchor yields at low levels. In emerging markets, hard currency government bonds and corporate bonds gained. Local currency bonds made a modest positive return. 市场观察 受新冠疫情拖累，全球股市一度跌至低点，但在 二零二零年下半年开始反弹，因多国央行纷纷出 手，透过减息和量化宽松计划，提供货币政策的 支持，规模为历来最大。随著多国放宽新冠病毒 的封城措施和经济有复甦的初步迹象，投资者的 承险意欲迅速回升，对股市和信贷市场都有支撑 作用。 受惠于政府持续采取强而有力的支持措施、经济 持续复甦和美元疲弱，亚洲股市在二零二零年第 三季度继续上涨。中国也公布经济数据强劲和企 业公布第二季度业绩向好。然而，中国与美国的 紧张关系升级，特别是有关中国的科网公司。在 定息方面，政府债券跟随整体市场走势，投资者 一方面看好政府会推出支持性的政策和经济有复 甦迹象，但另一方面仍然忧虑新冠病毒感染个案 持续上升。美国十年期国库债券的孳息率期终为 0.68%，按季上升三个基点。企业债券本季表现 良好，整体高风险资产造好，货币政策有助收益 证券从低位反弹。在新兴市场方面，以流通货币 计值的政府债券和公司债券上升，本币债券亦有 温和的正值回报。 施罗德亚洲高息股债基金 2 Manager’s Report 基金管理人报告 Market Review (Continued) In the fourth quarter of 2020, a number of vaccine breakthroughs fostered hopes of a return to economic normality. South Korea was the best-performing market, aided by strong gains from the tech sector. Indonesia, Taiwan, the Philippines and India also finished ahead of the index. Malaysia, China and Hong Kong generated more modest gains. In China, the on-going trade tensions with the US, and China’s new anti-trust guidelines to rein in tech giants weighed on sentiment. In fixed income, US 10-year treasury yield inched 25bps higher, ending at 0.91%. Corporate bonds saw gains, outpacing government bonds, with both investment grade and high yield delivering strong positive total returns. Going into 2021, even as several virus variants manifested themselves, the continued rollout of Covid-19 vaccines in the first quarter of the year further boosted hopes of a global economic recovery. In China, expectations for policy normalisation, together with regulatory uncertainty for certain industries, and ongoing geopolitical concerns, dampened sentiment. Emerging market equities also registered a positive return. This is despite weakness later in the quarter as EM vaccine programmes lagged developed markets, and as a pickup in daily new cases of Covid-19 led to renewed restrictions to activity in some countries. Elsewhere, bond yields rose markedly over the quarter, alongside inflation expectations. This was amidst the swift rollout of Covid-19 vaccinations, particularly in the US and UK, coupled with expectations of a large US economic stimulus. It was the second worst quarter since 1980 for US Treasuries, with other markets also seeing large moves. As such, the yield curve steepened, indicating rising growth expectations. 市场观察（续） 在二零二零年第四季度，疫苗接种人数突破高 位，使经济可望回复正常。南韩是表现最佳的市 场，得益于科技板块的强劲升幅。印尼、台湾、 菲律宾和印度期终的表现亦优于指数。马来西 亚、中国和香港录得较温和的升幅。中国与美国 的贸易紧张局势持续，以及中国推出的遏制科技 巨头的反垄断政策，打压市场情绪。在定息方 面，美国十年期国库债券的孳息率期终上升 二十五个基点至0.91%。公司债券亦上升，领先 政府债券，投资级和高收益均录得强劲的正值总 回报。 踏入二零二一年，尽管出现多种病毒变种，但今 年第一季度新冠疫苗的接种人数持续上升，进一 步提升全球经济复甦的机会。中国预期将政策正 常化，加上部分行业面对的监管政策尚未明朗， 以及地缘政治仍然备受关注，拖累市场情绪。新 兴市场股市本季初一度走软，但季终仍出现正回 报，季初表现不佳的原因是新兴市场的疫苗接种 计划落后于发达市场，以及部分国家的新冠病毒 的每日新增病例上升，导致恢复执行部分限制措 施。本季其他地区的债券孳息率大幅上升，因预 期通胀会升温，多国加快新冠疫苗接种流程，尤 其是在美国和英国，再加上美国预期会推出大规 模的经济刺激措施，这是美国国库债券自一九八 零年以来第二最差的季度，其他市场也出现大幅 波动。因此，孳息曲线变陡，反映市场人士预期 增长会加快。 3 Schroder Asian Asset Income Fund Manager’s Report 基金管理人报告 Market Review (Continued) Finally, in 2Q21, the outlook for global economic recovery gathered momentum in Q2, bolstered by the roll out of Covid-19 vaccines. Asian markets returned positively, however, stocks were more muted towards the end of the quarter as a resurgence of Covid-19 infections and lockdowns due to the delta variant curbed investor optimism somewhat. A stronger US dollar also weighed on returns in June, while a more hawkish tone from the US Federal Reserve and growing concerns over inflation further weakened sentiment. Elsewhere, US Treasury yields declined, with the 10-year falling from 1.74% to 1.47%, retracing some of the large move higher in Q1. The broad backdrop was a continued pronounced rebound in economic activity with annualised inflation rates rising well above target to levels not seen in over a decade. This is at least in part reflective of very low year ago comparisons, and investors began to speculate as to whether current levels would continue or prove transitory. Emerging market bonds (USD denominated) had a strong quarter, led by high yield, while EM currencies performed well despite a pullback in June. 市场观察（续） 最后在二零二一年第二季度，全球经济复甦的势 头在第二季度加快，这得益于新冠疫苗接种良 好。虽然亚洲市场止跌回升，但股市在本季度末 表现较为平淡，因Delta变种病毒肆虐，新冠疫 情再度恶化和恢复封城措施，打击投资者的乐观 情绪。美元走强也打压六月份的回报率，而联储 局采取更为紧缩的基调，越来越多市场人士忧虑 通胀会升温。其他方面，美国国库债券的孳息率 下降，十年期国债由1.74%下降至1.47%，使第 一季度录得的大幅涨幅收窄。整体市况是反映经 济活动持续明显反弹，年化通胀率远高于目标水 平，为十年来高位，这至少在一定程度上反映一 年前用作比较的基数非常低，以及投资者开始揣 测现时高通账是否会继续或只是暂时性。在高收 益率的带动下，以美元计值的新兴市场债券在本 季度表现强劲，而新兴市场货币尽管在六月份有 所回落，但本季度仍然表现良好。 施罗德亚洲高息股债基金 4 Manager’s Report 基金管理人报告 Outlook The effective roll-out of mass vaccinations against Covid-19 in many parts of the world has transformed the economic and market outlook and remains the biggest swing factor in the pace of the recovery. The cycle of lockdowns and subsequent re-opening, as we’ve recently seen in Asia, may be something we will need to contend with until the majority of the world’s population in both developed and emerging countries are vaccinated. Better than expected growth leads to higher inflation. Additionally, a combination of surging demand from re-opening of economy and tight supply across many industries mean that inflationary pressures are prevalent. Whilst the Fed has insisted to date that such pressures are transitory and do not warrant any material reaction, these pressures are to some extent longer term. We continue to remain positive on equities in the coming months ahead. As economic recovery take stage, many of the industries that suffered during the pandemic will experience a sharp rebound, including hotels, leisure, travel to name a few. Earnings recovery should also provide a more supportive backdrop for dividends but again timing around any potential increases remains dependent on how each country manages the Covid-19 situation. The equity portfolio benefits from a diversified positioning across the ‘old economy’ and ‘new economy’ sectors, for both income and structural growth opportunities. We will also continue to maintain an exposure to both elements of the ongoing cyclical upswing and longer-term themes within the region. There are still attractive opportunities to be had at the bottom-up security level and, consequently, we think a selective approach remains key to navigating these markets. 展望 在世界许多地区，大规模推出新冠疫苗接种计 划，成功改善经济和市场前景，而其成效仍然是 推动经济复甦步伐最大的摇摆因素。正如我们最 近在亚洲看到的那样，正面对封城后又重新开放 经济的循环，这情况应会持续，直至已开发国家 和新兴国家的大多数人口都已接种疫苗为止。经 济增长优于预期，导致通货膨胀加剧。此外，随 著经济重新开放，许多行业的供应紧张，带动需 求激增，意味著通胀压力普遍存在。尽管联储局 迄今坚持认为，这些通胀压力是暂时性，不需要 做出任何实质性回应措施，但这些压力在某种程 度上是长期性的。 未来几个月，我们继续看好股市。随著经济稳步 复甦，许多在大流行期间受到影响的行业将出现 大幅反弹，其中包括酒店、休闲、旅游等行业。 企业的盈利回升，应该有利派息，但会否出现任 何增长的时机仍然取决于各个国家如何应对新冠 疫情。股票投资组合包括「旧经济」和「新经济」 的多元化行业，涵盖收益和结构性增长机会。我 们还将继续部署以便能受惠于区内周期性升势和 长期主题。由下而上的证券投资仍具吸引力的机 会，因此，我们认为，精选投资的方法仍然是驾 驭这些市场的关键。 5 Schroder Asian Asset Income Fund Outlook (Continued) Elsewhere, we are positive but selective on Asian credits. Asian credits have broadly benefited from the recent decline in US treasury yields and the performance of risk assets. However, idiosyncratic issues have started to emerge in certain sectors such as Chinese asset management companies and real estate, so security selection is key in the current environment. Longer-term, Asian credits offer the advantages of both compelling valuation vs. US, European, and other EM credits, as well as lower volatility historically. With valuations increasingly stretched across developed market credit, together with a less favourable outlook for total return and bond technicals, we see fewer opportunities in investment grade bonds. At the moment, we have a positive view on high yield names compared to investment-grade given better risk-reward performance. We focus on attention on alpha opportunities via security selection on new issues, and risk management remains top of our priority. The portfolio also continues to have exposures to select off-benchmark markets for diversification benefits. As an investor with a robust long-term strategy, we place value in dynamically responding tactically as circumstances change. We will continue to navigate this period of higher volatility through actively managing exposures across styles, sectors and regional allocation in order to harvest growth opportunities while cushioning downside risks. 展望（续） 在其他市场，我们看好部分精选的亚洲信贷。亚 洲信贷广泛受益于美国国库债券的孳息率近期下 跌和风险资产的表现良好。然而，某些行业已经 开始出现个别问题，如中国的资产管理公司和房 地产等，因此在当前的环境下，证券选择是成功 关键。从长期来看，亚洲信贷与美国、欧洲和其 他新兴市场的信贷相比，具有明显估值优势，且 过去波动性又较低。随著发达市场信贷的估值越 来越高，总回报的前景和债券技术因素较为逊 色，我们看到投资级债券的机会越来越少。现 时，与投资级别相比，我们较看好高收益公司， 因风险回报的表现较佳。我们通过精选新发行证 券，专注把握超额回报的机会，而风险管理仍然 是我们的首要任务。投资组合还继续精选基准市 场以外的市场投资，以分散风险。 我们作为拥有稳健长期策略的投资者，如果市况 改变，将灵活把握相应技术性因素。我们将通过 主动型管理不同风格、行业和区域配置，继续驾 驭这波动性较高的时期，以获取增长机会，同时 缓冲下行风险。 Manager’s Report 基金管理人报告 施罗德亚洲高息股债基金 6 Manager’s Report 基金管理人报告 As at 30th June 2021, the Fund size was HK$31,351,182,396 represent by units as below: Class A Units HKD Accumulation Units 1,366,060.39 HKD Distribution Units 89,282,739.94 USD Accumulation Units 5,874,195.55 USD Distribution Units 136,810,953.19 AUD Hedged Distribution Units 52,455,264.35 RMB Hedged Distribution Units 38,173,595.46 GBP Hedged Accumulation Units 59,654.14 GBP Hedged Distribution Units 1,883,037.49 Class C HKD Accumulation Units 226,557.62 HKD Distribution Units 576,532.69 USD Accumulation Units 6,502,116.37 USD Distribution Units 2,800,982.93 AUD Hedged Distribution Units 254,986.76 Class I USD Accumulation Units 861,934.20 USD Distribution Units 466,267.56 Class M RMB Hedged Accumulation Units 4,112,936.27 Class X HKD Accumulation Units 67.62 HKD Distribution Units 21,927.95 USD Accumulation Units 68.14 USD Distribution Units 189,781.29 截 至 二 零 二 一 年 六 月 三 十 日， 基 金 总 值 31,351,182,396港元，发行份额如下： A 类别 份额 港元累积份额 1,366,060.39 港元收息份额 89,282,739.94 美元累积份额 5,874,195.55 美元收息份额 136,810,953.19 澳元对冲收息份额 52,455,264.35 人民币对冲收息份额 38,173,595.46 英镑对冲累积份额 59,654.14 英镑对冲收息份额 1,883,037.49 C 类别 港元累积份额 226,557.62 港元收息份额 576,532.69 美元累积份额 6,502,116.37 美元收息份额 2,800,982.93 澳元对冲收息份额 254,986.76 I类别 美元累积份额 861,934.20 美元收息份额 466,267.56 M类别 人民币对冲累积份额 4,112,936.27 X类别 港元累积份额 67.62 港元收息份额 21,927.95 美元累积份额 68.14 美元收息份额 189,781.29 7 Schroder Asian Asset Income Fund The prices of the units were: NET ASSET VALUE PER UNIT Class A HKD Accumulation Units HK$174.1296 HKD Distribution Units HK$104.7830 USD Accumulation Units US$17.4604 USD Distribution Units US$10.5074 AUD Hedged Distribution Units AU$9.6310 RMB Hedged Distribution Units RMB98.8772 GBP Hedged Accumulation Units GBP11.9846 GBP Hedged Distribution Units GBP9.9931 Class C HKD Accumulation Units HK$187.1604 HKD Distribution Units HK$112.6629 USD Accumulation Units US$16.7844 USD Distribution Units US$10.8858 AUD Hedged Distribution Units AU$9.9922 Class I USD Accumulation Units US$17.5256 USD Distribution Units US$13.3104 Class M RMB Hedged Accumulation Units RMB143.0670 Class X HKD Accumulation Units HK$173.7644 HKD Distribution Units HK$157.3165 USD Accumulation Units US$17.4081 USD Distribution Units US$15.7753 Schroder Investment Management (Hong Kong) Limited 20th October 2021 基金份额价格如下： 每份额净资产 A类别 港元累积份额 174.1296港元 港元收息份额 104.7830港元 美元累积份额 17.4604美元 美元收息份额 10.5074美元 澳元对冲收息份额 9.6310澳元 人民币对冲收息份额 98.8772人民币 英镑对冲累积份额 11.9846英镑 英镑对冲收息份额 9.9931英镑 C类别 港元累积份额 187.1604港元 港元收息份额 112.6629港元 美元累积份额 16.7844美元 美元收息份额 10.8858美元 澳元对冲收息份额 9.9922澳元 I类别 美元累积份额 17.5256美元 美元收息份额 13.3104美元 M类别 人民币对冲累积份额 143.0670人民币 X类别 港元累积份额 173.7644港元 港元收息份额 157.3165港元 美元累积份额 17.4081美元 美元收息份额 15.7753美元 施罗德投资管理（香港）有限公司 二零二一年十月二十日 Manager’s Report 基金管理人报告 施罗德亚洲高息股债基金 8 Manager’s Certificate 基金管理人证明书 We, as Manager of the Schroder Asian Asset Income Fund (the “Fund”), a sub-fund of Schroder Umbrella Fund II, hereby certify to the best of our knowledge and belief that during the year from 1st July 2020 to 30th June 2021, we have not, nor has any other person acting on our behalf: (a) transferred units to another person for sale, resale, cancellation or subsequent transfer to us for sale, resale or cancellation; (b) acquired or disposed of investments for account of the Fund other than through a recognised securities market; (c) disposed of units to another person for a price lower than the current issue price at the time of disposal; (d) acquired units for a price higher than the current realisation price at the time of such acquisition. For and on behalf of Schroder Investment Management (Hong Kong) Limited 20th October 2021 本公司为施罗德亚洲高息股债基金（「基金」）（施 罗德伞型基金II之子基金）基金管理人，谨证明 由二零二零年七月一日至二零二一年六月三十日 止年度间本基金管理人以及任何代表基金管理人 或其允许之人士均无： (a) 转让份额予其他人士作出售、转售或取消， 或其后转让予本基金管理人作出售、转售或 取消； (b) 在认可之证券交易市场以外买卖本基金之投 资； (c) 以低于当时发行价之价格出售份额； (d) 以高于当时赎回价之价格购入份额。 代表 施罗德投资管理（香港）有限公司 二零二一年十月二十日 9 Schroder Asian Asset Income Fund Trustee’s Report 受托人报告 We hereby confirm that, in our opinion, the Manager has, in all material respects, managed the Schroder Asian Asset Income Fund, a sub-fund of Schroder Umbrella Fund II, in accordance with the provisions of the Trust Deed dated 8th October 2010, as amended (the “Trust Deed”), for the year ended 30th June 2021. HSBC Institutional Trust Services (Asia) Limited 20th October 2021 本受托人谨确认基金管理人截至二零二一年六月 三十日止年度间在各个重要方面均依照二零一零 年十月八日所订立之信托契约（经修订）之条款管 理施罗德亚洲高息股债基金（施罗德伞型基金II 之子基金）。 汇丰机构信托服务（亚洲）有限公司 二零二一年十月二十日 施罗德亚洲高息股债基金 10 Report on the Audit of the Financial Statements Opinion What we have audited The financial statements of Schroder Asian Asset Income Fund (the “Fund”) set out on pages 17 to 143, which comprise: – the statement of financial position as at 30th June 2021; – the statement of comprehensive income for the year then ended; – the statement of changes in net assets attributable to unitholders for the year then ended; – the statement of cash flows for the year then ended; and – the notes to the financial statements, which include a summary of significant accounting policies. Our opinion In our opinion, the financial statements give a true and fair view of the financial position of the Fund as at 30th June 2021, and of its financial transactions and cash flows for the year then ended in accordance with Hong Kong Financial Reporting Standards (“HKFRSs”) issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”). 就财务报表审计作出的报告 意见 我们已审计的内容 施罗德亚洲高息股债基金（以下简称「基金」）列 载于第十七至一百四十三页的财务报表，包括： － 于二零二一年六月三十日的财务状况报表； － 截至该日止年度的全面收益报表； － 截至该日止年度的分配给份额持有人净资产 变动报表； － 截至该日止年度的现金流量表；及 － 财务报表注釋，包括主要会计政策概要。 我们的意见 我们认为，该等财务报表已根据香港会计师公会 颁布的《香港财务报告准则》真实而中肯地反映了 基金于二零二一年六月三十日的财务状况及其截 至该日止年度的财务表现及现金流量。 Independent Auditor’s Report To the Unitholders of Schroder Asian Asset Income Fund (Sub-Fund of Schroder Umbrella Fund II) 独立审计师报告 致施罗德亚洲高息股债基金 （施罗德伞型基金II之子基金） 份额持有人 11 Schroder Asian Asset Income Fund Independent Auditor’s Report To the Unitholders of Schroder Asian Asset Income Fund (Sub-Fund of Schroder Umbrella Fund II) (Continued) 独立审计师报告 致施罗德亚洲高息股债基金 （施罗德伞型基金II之子基金） 份额持有人（续） Basis for Opinion We conducted our audit in accordance with Hong Kong Standards on Auditing (“HKSAs”) issued by the HKICPA. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Fund in accordance with the HKICPA’s Code of Ethics for Professional Accountants (the “Code”), and we have fulfilled our other ethical responsibilities in accordance with the Code. Other Information T h e Tr u s t e e a n d t h e M a n a g e r ( t h e “Management”) of the Fund are responsible for the other information. The other information comprises all of the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 意见的基础 我们已根据香港会计师公会颁布的《香港审计准 则》进行审计。我们在该等准则下承担的责任已 在本报告「审计师就审计财务报表承担的责任」部 分中作进一步阐述。 我们相信，我们所获得的审计凭证能充足及适当 地为我们的审计意见提供基础。 独立性 根据香港会计师公会颁布的《专业会计师道德守 则》（以下简称「守则」），我们独立于基金，并已 履行守则中的其他专业道德责任。 其他信息 基金的受托人及基金管理人（合称为「管理层」） 须对其他信息负责。其他信息包括年报内的所有 信息，但不包括财务报表及我们的审计师报告。 我们对财务报表的意见并不涵盖其他信息，我们 亦不对该等其他信息发表任何形式的鉴证结论。 施罗德亚洲高息股债基金 12 Other Information (Continued) In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of Management for the Financial Statements The Management of the Fund is responsible for the preparation of the financial statements that give a true and fair view in accordance with HKFRSs issued by the HKICPA, and for such internal control as the Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Management of the Fund is responsible for assessing the Fund’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Management either intends to liquidate the Fund or to cease operations, or have no realistic alternative but to do so. 其他信息（续） 结合我们对财务报表的审计，我们的责任是阅读 其他信息，在此过程中，考虑其他信息是否与财 务报表或我们在审计过程中所了解的情况存在重 大抵触或者似乎存在重大错误陈述的情况。 基于我们已执行的工作，如果我们认为其他信息 存在重大错误陈述，我们需要报告该事实。在这 方面，我们没有任何报告。 管理层就财务报表须承担的责任 基金的管理层须负责根据香港会计师公会颁布的 《香港财务报告准则》拟备真实而中肯的财务报 表，并对其认为为使财务报表的拟备不存在由于 欺诈或错误而导致的重大错误陈述所需的内部控 制负责。 在拟备财务报表时，基金的管理层负责评估基金 持续经营的能力，并在适用情况下披露与持续经 营有关的事项，以及使用持续经营为会计基础， 除非管理层有意将基金清盘或停止经营，或别无 其他实际的替代方案。 Independent Auditor’s Report To the Unitholders of Schroder Asian Asset Income Fund (Sub-Fund of Schroder Umbrella Fund II) (Continued) 独立审计师报告 致施罗德亚洲高息股债基金 （施罗德伞型基金II之子基金） 份额持有人（续） 13 Schroder Asian Asset Income Fund Responsibilities of Management for the Financial Statements (Continued) In addition, the Management of the Fund is required to ensure that the financial statements have been properly prepared in accordance with the relevant disclosure provisions of the trust deed dated 8th October 2010, as amended (the “Trust Deed”) and Appendix E of the Code on Unit Trusts and Mutual Funds issued by the Hong Kong Securities and Futures Commission (the “SFC Code”). Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. We report our opinion solely to you, as a body, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with HKSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. In addition, we are required to assess whether the financial statements of the Fund have been properly prepared, in all material respects, in accordance with the relevant disclosure provisions of the Trust Deed and Appendix E of the SFC Code. 管理层就财务报表须承担的责任（续） 此外，基金的管理层须确保财务报表已根据二零 一零年十月八日订立的信托契约（经修订）（「信托 契约」）的相关披露条文，以及香港证券及期货事 务监察委员会颁布的《份额信托及互惠基金守则》 （「证监会守则」）附录E的相关披露条文而妥为编 制。 审计师就审计财务报表承担的责任 我们的目标，是对财务报表整体是否不存在由于 欺诈或错误而导致的重大错误陈述取得合理保 证，并出具包括我们意见的审计师报告。我们仅 向阁下（作为整体）报告我们的意见，除此之外本 报告别无其他目的。我们不会就本报告的内容向 任何其他人士负上或承担任何责任。合理保证是 高水平的保证，但不能保证按照《香港审计准则》 进行的审计，在某一重大错误陈述存在时总能发 现。错误陈述可以由欺诈或错误引起，如果合理 预期它们单独或汇总起来可能影响财务报表使用 者依赖财务报表所作出的经济决定，则有关的错 误陈述可被视作重大。此外，我们需要评估基金 的财务报表是否已根据信托契约的相关披露条文 及证监会守则附录E而妥为编制。 Independent Auditor’s Report To the Unitholders of Schroder Asian Asset Income Fund (Sub-Fund of Schroder Umbrella Fund II) (Continued) 独立审计师报告 致施罗德亚洲高息股债基金 （施罗德伞型基金II之子基金） 份额持有人（续） 施罗德亚洲高息股债基金 14 Auditor’s Responsibilities for the Audit of the Financial Statements (Continued) As part of an audit in accordance with HKSAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: – Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. – Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control. – Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Management. 审计师就审计财务报表承担的责任（续） 在根据《香港审计准则》进行审计的过程中，我们 运用了专业判断，保持了专业怀疑态度。我们 亦： － 识别和评估由于欺诈或错误而导致财务报表 存在重大错误陈述的风险，设计及执行审计 程序以应对这些风险，以及获取充足和适当 的审计凭证，作为我们意见的基础。由于欺 诈可能涉及串谋、伪造、蓄意遗漏、虚假陈 述，或凌驾于内部控制之上，因此未能发现 因欺诈而导致的重大错误陈述的风险高于未 能发现因错误而导致的重大错误陈述的风 险。 － 了解与审计相关的内部控制，以设计适当的 审计程序，但目的并非对基金内部控制的有 效性发表意见。 － 评价管理层所采用会计政策的恰当性及作出 会计估计和相关披露的合理性。 Independent Auditor’s Report To the Unitholders of Schroder Asian Asset Income Fund (Sub-Fund of Schroder Umbrella Fund II) (Continued) 独立审计师报告 致施罗德亚洲高息股债基金 （施罗德伞型基金II之子基金） 份额持有人（续） 15 Schroder Asian Asset Income Fund Auditor’s Responsibilities for the Audit of the Financial Statements (Continued) – Conclude on the appropriateness of the Management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Fund’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Fund to cease to continue as a going concern. – Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with the Management regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 审计师就审计财务报表承担的责任（续） － 对管理层采用持续经营会计基础的恰当性作 出结论。根据所获取的审计凭证，确定是否 存在与事项或情况有关的重大不确定性，从 而可能导致对基金的持续经营能力产生重大 疑虑。如果我们认为存在重大不确定性，则 有必要在审计师报告中提请使用者注意财务 报表中的相关披露。假若有关的披露不足， 则我们应当发表非无保留意见。我们的结论 是基于审计师报告日止所取得的审计凭证。 然而，未来事项或情况可能导致基金不能持 续经营。 － 评价财务报表的整体列报方式、结构和内 容，包括披露，以及财务报表是否中肯反映 交易和事项。 除其他事项外，我们与管理层沟通了计划的审计 范围、时间安排、重大审计发现等，包括我们在 审计中识别出内部控制的任何重大缺陷。 Independent Auditor’s Report To the Unitholders of Schroder Asian Asset Income Fund (Sub-Fund of Schroder Umbrella Fund II) (Continued) 独立审计师报告 致施罗德亚洲高息股债基金 （施罗德伞型基金II之子基金） 份额持有人（续） 施罗德亚洲高息股债基金 16 Report on Matters under the Relevant Disclosure Provisions of the Trust Deed and Appendix E of the SFC Code In our opinion, the financial statements have been properly prepared, in all material respects, in accordance with the relevant disclosure provisions of the Trust Deed and Appendix E of the SFC Code. PricewaterhouseCoopers Certified Public Accountants Hong Kong, 20th October 2021 就信托契约的相关披露条文及证监会守则附录E 的有关披露规定之事项作出的报告 我们认为，财务报表已在所有重大方面根据受托 契约及证监会守则附录E的相关披露条文而妥为 编制。 罗兵咸永道会计师事务所 执业会计师 香港，二零二一年十月二十日 Independent Auditor’s Report To the Unitholders of Schroder Asian Asset Income Fund (Sub-Fund of Schroder Umbrella Fund II) (Continued) 独立审计师报告 致施罗德亚洲高息股债基金 （施罗德伞型基金II之子基金） 份额持有人（续） 17 Schroder Asian Asset Income Fund Statement of Financial Position 财务状况报表 As at 30th June 2021 截至二零二一年六月三十日 Note 注釋 2021 HK$ 二零二一年 港元 2020 HK$ 二零二零年 港元 ASSETS 资产 Current assets 流动资产 Investments 投资 3(b), 9(b) 29,915,452,234 28,148,087,819 Derivative financial instruments 衍生金融工具 3(b), 5, 9(m) 97,709,546 55,705,429 Amounts receivable on disposal of investments 应收出售投资款项 62,721,720 141,559,039 Amounts receivable on subscription of units 应收认购份额款项 253,435,015 58,070,949 Dividends receivable 应收股利 38,229,171 49,851,385 Interest receivable on debt securities 应收债务证券利息 137,607,415 144,762,179 Interest receivable on bank deposits 应收存款利息 – 33 Other receivables and prepayments 其他应收款项及预付款项 261,540 244,573 Margin deposits 保证金 6 336,175,827 114,669,712 Cash collateral 现金抵押品 3,416,974 8,990,522 Cash and bank deposits Note 1现金及银行存款 注釋1 9(a) 1,073,057,120 1,164,773,292 Total assets 资产总值 31,918,066,562 29,886,714,932 施罗德亚洲高息股债基金 18 Statement of Financial Position (Continued) 财务状况报表（续） As at 30th June 2021 截至二零二一年六月三十日 Note 注釋 2021 HK$ 二零二一年 港元 2020 HK$ 二零二零年 港元 LIABILITIES 负债 Current liabilities 流动负债 Derivative financial instruments 衍生金融工具 3(b), 5, 9(m) 196,549,467 46,143,137 Amounts payable on purchase of investments 应付认购投资款项 85,860,183 192,313,626 Amounts payable on redemption of units 应付赎回份额款项 98,888,742 122,887,353 Deferred tax liability 递延所得税负债 10 19,857,865 – Distributions payable 应付股利 123,130,516 105,111,413 Cash collateral liabilities 现金抵押品负债 3,339,316 6,122,855 Other payables 其他应付款项 39,258,077 36,693,647 Liabilities (excluding net assets attributable to unitholders) 负债值（除分配给份额持有人净资产） 566,884,166 509,272,031 Net assets attributable to unitholders 分配给份额持有人净资产 11 31,351,182,396 29,377,442,901 For and on behalf of 代表 For and on behalf of 代表 Schroder Investment Management HSBC Institutional Trust Services (Asia) Limited (Hong Kong) Limited 汇丰机构信托服务（亚洲）有限公司 施罗德投资管理（香港）有限公司 Note 1: As at 30th June 2021, cash collateral amounting to HK$3,339,316 were held under The Hongkong and Shanghai Banking Corporation Limited, Hong Kong and included as cash and bank deposit under the statement of financial position (2020: HK$6,122,855). 注釋一：截至二零二一年六月三十日，香港上海汇丰银行有限公司持有现金抵押品为3,339,316港元及其 金额包括在财务状况报表中的现金及银行存款（二零二零年六月三十日：6,122,855港元）。 The notes on pages 29 to 143 are an integral part of these financial statements. 第二十九至一百四十三页之注釋乃属本财务报表之一部份。 19 Schroder Asian Asset Income Fund Statement of Comprehensive Income 全面收益报表 For the year ended 30th June 2021 二零二一年六月三十日止年度 Note 注釋 2021 HK$ 二零二一年 港元 2020 HK$ 二零二零年 港元 Income 收益 Dividends 股利 609,309,758 741,399,517 Interest on bank deposits 存款利息 9(a) 21,007 5,932,150 Interest on debt securities 债务证券利息 9(i) 513,892,407 584,967,727 Interest on collateral 抵押品利息 5,605 – Net realised gains/(losses) on investments and derivative financial instruments 投资及衍生金融工具的已变现净收益╱（亏损） 1,161,088,815 (802,400,853) Net change in unrealised appreciation/depreciation in value of investments and derivative financial instruments 投资及衍生金融工具的未变现增值╱贬值 4,185,238,919 (3,536,153,194) Net exchange gains/(losses) 汇兑净收益╱（亏损） 14,479,134 (23,334,813) Other income 其他收益 429,785 2,495,044 Total net income/(loss) 总净收益╱（亏损） 6,484,465,430 (3,027,094,422) Expenses 支出 Management fee 管理费用 7 363,254,595 391,223,068 Trustee fee 受托人费用 7 20,954,144 22,626,929 Safe custody and bank charges 代管费用及银行费用 9(f) 8,476,562 6,776,916 Auditor’s remuneration 审计师酬金 208,817 147,983 Legal and other professional fees 法律及专业费用 9(g) 387,410 448,978 Transaction handling fees 交易手续费 9(c) 409,848 211,632 Transaction cost 交易成本 9(k) 17,727,865 12,097,365 Interest expense 利息支出 9(e) 341,237 9,895 Other operating expenses 其他经营费用 9(d), 9(h) 60,871,082 65,197,621 Total operating expenses 总经营费用 472,631,560 498,740,387 施罗德亚洲高息股债基金 20 Note 注釋 2021 HK$ 二零二一年 港元 2020 HK$ 二零二零年 港元 Operating profit/(loss) 经营盈利╱（亏损） 6,011,833,870 (3,525,834,809) Finance cost 财务成本 Distributions to unitholders 股利分派给份额持有人 8 (1,351,571,221) (1,328,225,403) ─────────── ─────────── Profit/(loss) after distribution and before tax 派发股利后及预扣税项前之盈利╱（亏损） 4,660,262,649 (4,854,060,212) Withholding tax 预扣税项 (57,835,341) (52,449,897) Capital gain tax 资产增值预扣税 (19,753,812) (2,461,485) Increase/(decrease) in net assets attributable to unitholders 分配给份额持有人净资产之增加╱（减少） 4,582,673,496 (4,908,971,594) The notes on pages 29 to 143 are an integral part of these financial statements. 第二十九至一百四十三页之注釋乃属本财务报表之一部份。 Statement of Comprehensive Income (Continued) 全面收益报表（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 21 Schroder Asian Asset Income Fund Statement of Changes in Net Assets Attributable to Unitholders 分配给份额持有人净资产变动报表 For the year ended 30th June 2021 二零二一年六月三十日止年度 Note 注釋 2021 HK$ 二零二一年 港元 2020 HK$ 二零二零年 港元 Balance at the beginning of the year 年初总值 29,377,442,901 33,347,675,780 Issue of units 发行份额 11 11,688,352,408 16,715,871,356 Redemption of units 赎回份额 11 (14,297,286,409) (15,777,132,641) Net (redemption)/issue 净（赎回）╱发行 (2,608,934,001) 938,738,715 Increase/(decrease) in net assets attributable to unitholders 分配给份额持有人净资产之增加╱（减少） 4,582,673,496 (4,908,971,594) Balance at the end of the year 年终总值 31,351,182,396 29,377,442,901 Note 注釋 2021 Units 二零二一年 份额 2020 Units 二零二零年 份额 HKD Class A Accumulation 港元A类别累积份额 Number of units in issue at the beginning of the year 年初已发行份额数目 1,635,078.71 1,884,213.91 Units issued 发行份额 386,300.13 1,184,338.42 Units redeemed 赎回份额 (655,318.45) (1,433,473.62) Number of units in issue at the end of the year 年终已发行份额数目 11 1,366,060.39 1,635,078.71 HKD Class A Distribution 港元A类别收息份额 Number of units in issue at the beginning of the year 年初已发行份额数目 87,407,766.67 87,847,766.97 Units issued 发行份额 37,641,784.28 45,613,962.65 Units redeemed 赎回份额 (35,766,811.01) (46,053,962.95) Number of units in issue at the end of the year 年终已发行份额数目 11 89,282,739.94 87,407,766.67 施罗德亚洲高息股债基金 22 Note 注釋 2021 Units 二零二一年 份额 2020 Units 二零二零年 份额 HKD Class C Accumulation 港元C类别累积份额 Number of units in issue at the beginning of the year 年初已发行份额数目 241,771.53 246,761.64 Units issued 发行份额 26,479.08 2,538.77 Units redeemed 赎回份额 (41,692.99) (7,528.88) Number of units in issue at the end of the year 年终已发行份额数目 11 226,557.62 241,771.53 HKD Class C Distribution 港元C类别收息份额 Number of units in issue at the beginning of the year 年初已发行份额数目 560,525.85 536,009.31 Units issued 发行份额 34,449.06 37,452.53 Units redeemed 赎回份额 (18,442.22) (12,935.99) Number of units in issue at the end of the year 年终已发行份额数目 11 576,532.69 560,525.85 USD Class A Accumulation 美元A类别累积份额 Number of units in issue at the beginning of the year 年初已发行份额数目 8,711,106.87 9,180,049.16 Units issued 发行份额 766,979.37 2,983,350.79 Units redeemed 赎回份额 (3,603,890.69) (3,452,293.08) Number of units in issue at the end of the year 年终已发行份额数目 11 5,874,195.55 8,711,106.87 USD Class A Distribution 美元A类别收息份额 Number of units in issue at the beginning of the year 年初已发行份额数目 140,638,049.94 135,592,271.78 Units issued 发行份额 64,271,561.85 82,030,628.23 Units redeemed 赎回份额 (68,098,658.60) (76,984,850.07) Number of units in issue at the end of the year 年终已发行份额数目 11 136,810,953.19 140,638,049.94 Statement of Changes in Net Assets Attributable to Unitholders (Continued) 分配给份额持有人净资产变动报表（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 23 Schroder Asian Asset Income Fund Note 注釋 2021 Units 二零二一年 份额 2020 Units 二零二零年 份额 USD Class C Accumulation 美元C类别累积份额 Number of units in issue at the beginning of the year 年初已发行份额数目 9,627,267.89 5,761,594.25 Units issued 发行份额 157,101.42 5,460,764.16 Units redeemed 赎回份额 (3,282,252.94) (1,595,090.52) Number of units in issue at the end of the year 年终已发行份额数目 11 6,502,116.37 9,627,267.89 USD Class C Distribution 美元C类别收息份额 Number of units in issue at the beginning of the year 年初已发行份额数目 1,348,450.11 213,478.27 Units issued 发行份额 1,682,755.83 1,288,853.92 Units redeemed 赎回份额 (230,223.01) (153,882.08) Number of units in issue at the end of the year 年终已发行份额数目 11 2,800,982.93 1,348,450.11 USD Class I Accumulation 美元I类别累积份额 Number of units in issue at the beginning of the year 年初已发行份额数目 1,320,034.13 1,586,829.98 Units issued 发行份额 45,426.00 3,782.00 Units redeemed 赎回份额 (503,525.93) (270,577.85) Number of units in issue at the end of the year 年终已发行份额数目 11 861,934.20 1,320,034.13 USD Class I Distribution 美元I类别收息份额 Number of units in issue at the beginning of the year 年初已发行份额数目 2,771,963.55 5,235,321.34 Units redeemed 赎回份额 (2,305,695.99) (2,463,357.79) Number of units in issue at the end of the year 年终已发行份额数目 11 466,267.56 2,771,963.55 Statement of Changes in Net Assets Attributable to Unitholders (Continued) 分配给份额持有人净资产变动报表（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 施罗德亚洲高息股债基金 24 Note 注釋 2021 Units 二零二一年 份额 2020 Units 二零二零年 份额 AUD Hedged Class A Distribution 澳元对冲A类别收息份额 Number of units in issue at the beginning of the year 年初已发行份额数目 64,635,380.73 65,160,930.69 Units issued 发行份额 13,622,465.08 32,745,505.81 Units redeemed 赎回份额 (25,802,581.46) (33,271,055.77) Number of units in issue at the end of the year 年终已发行份额数目 11 52,455,264.35 64,635,380.73 AUD Hedged Class C Distribution 澳元对冲C类别收息份额 Number of units in issue at the beginning of the year 年初已发行份额数目 222,459.59 37,372.98 Units issued 发行份额 45,542.01 200,972.57 Units redeemed 赎回份额 (13,014.84) (15,885.96) Number of units in issue at the end of the year 年终已发行份额数目 11 254,986.76 222,459.59 RMB Hedged Class A Distribution 人民币对冲A类别收息份额 Number of units in issue at the beginning of the year 年初已发行份额数目 39,432,221.46 38,100,351.91 Units issued 发行份额 11,773,779.98 14,890,207.85 Units redeemed 赎回份额 (13,032,405.98) (13,558,338.30) Number of units in issue at the end of the year 年终已发行份额数目 11 38,173,595.46 39,432,221.46 Statement of Changes in Net Assets Attributable to Unitholders (Continued) 分配给份额持有人净资产变动报表（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 25 Schroder Asian Asset Income Fund Note 注釋 2021 Units 二零二一年 份额 2020 Units 二零二零年 份额 RMB Hedged Class M Accumulation 人民币对冲M类别累积份额 Number of units in issue at the beginning of the year 年初已发行份额数目 11,010,553.35 12,196,315.81 Units issued 发行份额 311,422.29 5,995,026.50 Units redeemed 赎回份额 (7,209,039.37) (7,180,788.96) Number of units in issue at the end of the year 年终已发行份额数目 11 4,112,936.27 11,010,553.35 GBP Hedged Class A Accumulation 英镑对冲A类别累积份额 Number of units in issue at the beginning of the year 年初已发行份额数目 111,488.61 36,989.07 Units issued 发行份额 28,482.04 77,576.06 Units redeemed 赎回份额 (80,316.51) (3,076.52) Number of units in issue at the end of the year 年终已发行份额数目 11 59,654.14 111,488.61 GBP Hedged Class A Distribution 英镑对冲A类别收息份额 Number of units in issue at the beginning of the year 年初已发行份额数目 793,971.76 397,142.20 Units issued 发行份额 1,403,684.93 616,729.23 Units redeemed 赎回份额 (314,619.20) (219,899.67) Number of units in issue at the end of the year 年终已发行份额数目 11 1,883,037.49 793,971.76 HKD Class X Accumulation 港元X类别累积份额 Number of units in issue at the beginning of the year 年初已发行份额数目 67.62 67.62 Number of units in issue at the end of the year 年终已发行份额数目 11 67.62 67.62 Statement of Changes in Net Assets Attributable to Unitholders (Continued) 分配给份额持有人净资产变动报表（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 施罗德亚洲高息股债基金 26 Note 注釋 2021 Units 二零二一年 份额 2020 Units 二零二零年 份额 HKD Class X Distribution 港元X类别收息份额 Number of units in issue at the beginning of the year 年初已发行份额数目 5,264.40 64.42 Units issued 发行份额 18,967.29 5,901.20 Units redeemed 赎回份额 (2,303.74) (701.22) Number of units in issue at the end of the year 年终已发行份额数目 11 21,927.95 5,264.40 USD Class X Accumulation 美元X类别累积份额 Number of units in issue at the beginning of the year 年初已发行份额数目 68.14 68.14 Number of units in issue at the end of the year 年终已发行份额数目 11 68.14 68.14 USD Class X Distribution 美元X类别收息份额 Number of units in issue at the beginning of the year 年初已发行份额数目 80,711.22 82.56 Units issued 发行份额 146,941.81 85,899.85 Units redeemed 赎回份额 (37,871.74) (5,271.19) Number of units in issue at the end of the year 年终已发行份额数目 11 189,781.29 80,711.22 The notes on pages 29 to 143 are an integral part of these financial statements. 第二十九至一百四十三页之注釋乃属本财务报表之一部份。 Statement of Changes in Net Assets Attributable to Unitholders (Continued) 分配给份额持有人净资产变动报表（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 27 Schroder Asian Asset Income Fund Note 注釋 2021 HK$ 二零二一年 港元 2020 HK$ 二零二零年 港元 Cash flows from operating activities 经营业务之现金流量 Increase/(decrease) in net assets attributable to unitholders 分配给份额持有人净资产之增加╱（减少） 4,582,673,496 (4,908,971,594) Adjustments for 调整： – Dividends 股利 (609,309,758) (741,399,517) – Interest on bank deposits 存款利息 (21,007) (5,932,150) – Interest on debt securities 债务证券利息 (513,892,407) (584,967,727) – Interest on collateral 抵押品利息 (5,605) – – Interest expense 利息支出 341,237 9,895 – Capital gain tax 资产增值扣税 19,753,812 2,461,485 – Withholding tax 预扣税项 57,835,341 52,449,897 – Other income 其他收益 (429,785) (2,495,044) – Distributions to unitholders 股利分派给份额持有人 1,351,571,221 1,328,225,403 – Net exchange (gains)/losses 汇兑净（收益）╱亏损 (14,479,134) 23,334,813 Operating profit/(loss) before working capital changes 经营资本转变前之经营盈利╱（亏损） 4,874,037,411 (4,837,284,539) Net (increase)/decrease in investments and derivative financial instruments 投资及衍生金融工具之（增加）╱减少净额 (1,658,962,202) 4,258,183,917 Net (increase)/decrease in margin deposits – restricted 受限制保证金之（增加）╱减少净额 (56,302,907) 1,747,885 Decrease/(increase) in cash collateral 现金抵押品之减少╱（增加） 5,573,548 (8,990,522) (Decrease)/increase in cash collateral liabilities 现金抵押品负债之（减少）╱增加 (2,783,539) 6,122,855 (Decrease)/increase in amounts payable on purchase of investments 应付认购投资款项之（减少）╱增加 (106,453,443) 110,930,556 Increase/(decrease) in other payables 其他应付款项之增加╱（减少） 2,564,430 (3,958,720) Decrease/(increase) in amounts receivable on disposal of investments 应收出售投资款项之减少╱（增加） 78,837,319 (44,203,321) Increase in other receivables and prepayments 其他应收款项及预付款项之增加 (16,967) (97,905) Cash generated from/(used in) operations 经营所产生╱（运用）之现金 3,136,493,650 (517,549,794) Statement of Cash Flows 现金流量表 For the year ended 30th June 2021 二零二一年六月三十日止年度 施罗德亚洲高息股债基金 28 Statement of Cash Flows (Continued) 现金流量表（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Note 注釋 2021 HK$ 二零二一年 港元 2020 HK$ 二零二零年 港元 Dividends received 已收股利 563,430,975 730,715,741 Taxation refunded/(paid) 退回╱（已付）税项 104,053 (2,461,485) Interest on bank deposits received 已收存款利息 20,735 5,976,521 Interest on debt securities received 已收债务证券利息 520,713,132 589,461,099 Interest on collateral received 已收抵押品利息 5,605 – Interest paid 已付利息 (341,237) (9,895) Other income 其他收益 429,785 2,495,044 Net cash generated from operating activities 经营业务所产生之现金净额 4,220,856,698 808,627,231 Cash flows from financing activities 筹资活动之现金流量 Distributions paid to unitholders 分配给份额持有人之股利 (1,333,552,118) (1,344,016,315) Proceeds from subscription of units 认购份额所得款项 11,492,988,342 16,882,543,416 Payments on redemption of units 赎回份额支付款项 (14,321,285,020) (15,912,562,594) Net cash used in financing activities 筹资活动所运用之现金净额 (4,161,848,796) (374,035,493) Net increase in cash and cash equivalents 现金及现金等值之净增加 59,007,902 434,591,738 Cash and cash equivalents at the beginning of the year 年初现金及现金等值 1,250,603,580 839,346,655 Net exchange gains/(losses) 汇兑净收益╱（亏损） 14,479,134 (23,334,813) Cash and cash equivalents at the end of the year 年终现金及现金等值 1,324,090,616 1,250,603,580 Analysis of balances of cash and cash equivalents: 现金及现金等值余额分析： Cash and bank deposits 现金及银行存款 9(a) 1,073,057,120 1,164,773,292 Margin deposits – unrestricted 保证金－不受限制 6 251,033,496 85,830,288 1,324,090,616 1,250,603,580 The notes on pages 29 to 143 are an integral part of these financial statements. 第二十九至一百四十三页之注釋乃属本财务报表之一部份。 29 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 1. 一般资料 施罗德基金亚洲高息股债基金（「基金」）为施 罗德伞型基金II之子基金。施罗德伞型基金 II是根据一份由施罗德投资管理（香港）有限 公司作为基金管理人（「基金管理人」）和汇丰 机构信托服务（亚洲）有限公司作为受托人 （「受托人」）签署，日期为二零一零年十月八 日的信托契约（经修订）成立的伞型份额信托 基金。本基金并已获香港证券及期货事务监 察委员会根据香港证券及期货条例第104(1) 条核准，并受香港证券及期货事务监察委员 会设立之份额信托及互惠基金守则规范。本 基金已根据中国证券监督管理委员会公告 〔2015〕12 号《 香 港 互 认 基 金 管 理 暂 行 规 定》，于二零一七年五月二十四日经中国证 监会证监许可获准在中国内地公开销售。 本基金的目标是主要透过投资于亚洲股票和 亚洲定息证券，以提供中期至长期的收益及 资本增值。 1. GENERAL INFORMATION Schroder Asian Asset Income Fund (the “Fund”) is a sub-fund of Schroder Umbrella Fund II. Schroder Umbrella Fund II is an umbrella unit trust which is governed by its trust deed dated 8th October 2010, as amended (the “Trust Deed”), between Schroder Investment Management (Hong Kong) Limited (the “Manager”) and HSBC Institutional Trust Services (Asia) Limited (the “Trustee”). The Fund is authorised by the Securities and Futures Commission of Hong Kong (“SFC”) under Section 104(1) of the Hong Kong Securities and Futures Ordinance and is required to comply with the Code on Unit Trusts and Mutual Funds established by the Securities and Futures Commission of Hong Kong. The Fund was approved for sales in Mainland China under Mutual Recognition of Funds (“MRF”) scheme on 24th May 2017, by the China Securities Regulatory Commission. The Fund’s objective is to provide income and capital growth over the medium to longer term by investing primarily in Asian equities and Asian fixed income securities. 施罗德亚洲高息股债基金 30 Notes to the Financial Statements 财务报表之注釋 1. GENERAL INFORMATION (Continued) The Fund will seek to achieve the investment objective primarily (i.e. at least 70% of its net asset value) through investment in a portfolio of equity and equity related securities of Asian companies which offer sustainable dividend payments, including real estate investment trusts (“REITs”), and bonds, and other fixed or floating rate securities of investment grade or below investment grade (at the time of or subsequent to acquisition), issued by governments, government agencies, supra-national and companies in Asia. The Fund is not subject to any limitation on the portion of its net asset value that may be invested in any country in Asia (including countries in Asia-Pacific) or sector. The Fund may invest below 50% of its net asset value in bonds and debt securities which are below investment grade (i.e. rated below BBB- or equivalent by any internationally recognised credit rating agency, such as Standard & Poor’s, Moody’s or Fitch, or rated BB+ or below by any mainland China domestic credit rating agency; whenever different ratings are assigned by different credit rating agencies, the lowest credit ratings assigned to the security will be adopted by the Fund) or unrated. For this purpose, if the relevant security does not itself have a credit rating, then reference can be made to the credit rating of the issuer of the security. If both the security and the relevant issuer are not rated, then the security will be classified as unrated. The Fund may invest up to 20% of its net asset value in debt instruments with lossabsorption features such as contingent convertible bonds, Additional Tier 1 and Tier 2 capital notes, Tier 1 and Tier 2 capital notes, capital security bonds and total loss-absorbing capacity bonds. The Fund may, if the Manager considers fit, seek exposure of not more than 20% of its net asset value to other asset classes including but not limited to non-Asian securities, commodities (including energy, metals and agricultural commodities) indirectly through exchange traded funds (“ETFs”) and/or similar instruments. 1. 一般资料（续） 本基金主要（即至少其净资产的70%）透过投 资于一篮子提供持续派发股利的亚洲公司的 股本和股本相关证券，包括房地产投资基金 （「REITs」）和债券，以及由亚洲各地政府、 政府机构、跨国家机构及公司发行的债券和 其他定息或浮动利率证券（该等证券在购入 时或购入后可能是具有投资级别或投资级别 以下的证券），以达致投资目标。本基金可 将少于其净资产的50%投资于评级低于投资 级别（即任何国际认可信贷评级机构，如标 准普尔、穆迪或惠誉评为BBB（- 或相等级别） 以下级别，或由任何中国国内信贷评级机构 评为BB+或以下级别；当各信贷评级机构的 评级有别，本基金将采用当中最低的级别） 或未获评级的债券和债务证券。为此，如有 关证券本身没有信贷评级，可参考该证券发 行商的信贷评级。如证券和其发行商均没有 评级，则证券将被分类为未获评级的证券。 本基金可将其净资产最多20%投资于具亏损 吸收特性的债务工具，例如：或有可转换债 券、额外一级及二级资本票据、一级及二级 资本票据、资本抵押债券和总亏损吸收能力 债券。如基金管理人认为合适，本基金可将 不超过20%的净资产透过交易所交易基金 （「ETFs」）及╱或类似的工具，间接投资于其 他种类的资产，包括但不限于非亚洲证券、 商品（包括能源、金属和农产品）。 31 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. (a) Basis of preparation The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (“HKFRSs”) issued by the Hong Kong Institute of Certified Public Accountants. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of financial assets and financial liabilities (including derivative financial instruments) held at fair value through profit or loss. The preparation of financial statements in conformity with HKFRS requires the use of certain critical accounting estimates. It also requires the Trustee and the Manager to exercise their judgment in the process of applying the Fund’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 4. 2. 主要会计政策 以下为本财务报表采纳之主要会计政策，除 另有注明外，与过往年期采纳者一致。 (a) 编制基准 本财务报表乃按照由香港会计师公会颁布的 香港财务报告准则编制。财务报表乃按历史 成本准则编制，并就按公允值透过损益列账 的财务资产及财务负债（包括衍生金融工具） 之重估而作出调整。 受托人及基金管理人按照香港财务报告准则 于编制财务报表时需作出若干关键会计估 算、判断和假设。该等估算和相关的假设涉 及重大复杂性或对财务报表属重大的范畴， 并已载于注釋4。 施罗德亚洲高息股债基金 32 Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (a) Basis of preparation (Continued) Standards, amendments to existing standards or interpretations effective 1st July 2020 The Fund has applied the following standards, amendments to standards or interpretations for their annual reporting period commencing 1st July 2020: (i) Definition of Material – amendments to HKAS 1 and HKAS 8 (ii) Revised conceptual framework for Financial Reporting The standards, amendments to standards or interpretation listed above did not have any material impact on the financial statements of the Fund. New standards, amendments to standards and interpretations effective after 1st July 2020 and have not been early adopted by the Fund A number of new standards, amendments to standards and interpretations are effective for annual periods beginning after 1st July 2020, and have not been early adopted in preparing these financial statements. None of these are expected to have a material effect on the financial statements of the Fund. 2. 主要会计政策（续） (a) 编制基准（续） 自二零二零年七月一日开始生效的准则，现 有准则的修订或诠释 本基金自二零二零年七月一日起的年度报告 期间已应用以下的准则，现有准则的修订或 诠释。 (i) 重要性的定义– HKAS 1 及HKAS 8 修订 (ii) 财务报告的概念框架（修订版） 上述准则，现有准则的修订或诠释没有对基 金的年度报告造成重大影响。 于二零二零年七月一日后生效但本基金并无 提早采纳的新准则，准则的修订和诠释 多项新准则，准则的修订和诠释已于二零二 零年七月一日后开始的年度期间起生效，但 尚未于本财务报表中提早采纳。此等新准 则，准则的修订和诠释预期不会对本基金的 财务报表有任何重大影响。 33 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (b) Investments Classification (i)?Assets The Fund classifies its investments based on both the Fund’s business model for managing those financial assets and the contractual cash flow characteristics of the financial assets. The portfolio of financial assets is managed and performance is evaluated on a fair value basis. The Fund is primarily focused on fair value information and uses that information to assess the assets’ performance and to make decisions. The Fund has not taken the option to irrevocably designate any equity securities as fair value through other comprehensive income. The contractual cash flows of the Fund’s debt securities are solely principal and interest, however, these securities are neither held for the purpose of collecting contractual cash flows nor held both for collecting contractual cash flows and for sale. The collection of contractual cash flows is only incidental to achieving the Fund’s business model’s objective. Consequently, all investments are measured at fair value through profit or loss. 2. 主要会计政策（续） (b) 投资 分类 (i) 资产 本基金同时按其管理金融资产的业务模式以 及金融资产的合约现金流量特点分类其投 资。金融资产组合按照公允值基准管理和评 价其表现。本基金侧重于公允值资讯，并利 用公允值资讯评估资产表现和作出决定。本 基金没有采纳选择权，不可撤销地将任何权 益证券指定为按公允值透过其他全面收益列 账。本基金债务证券的合约现金流仅包括本 金和利息，然而该等证券并非持作收取合约 现金流或持作同时收取合约现金流和作为出 售用途。收取合约现金流仅为达致本基金业 务模式目标的附带项目。因此，所有投资均 按公允值透过损益度量。 施罗德亚洲高息股债基金 34 Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (b) Investments (Continued) Classification (Continued) (ii) Liabilities The Fund makes short sales in which a borrowed security is sold in anticipation of a decline in the market value of that security, or it may use short sales for various arbitrage transactions. Short sales are held for trading and are consequently classified as financial liabilities at fair value through profit or loss. Derivative contracts that have a negative fair value are presented as liabilities at fair value through profit or loss. As such, the Fund classifies all of its investment portfolio as financial assets or liabilities as fair value through profit or loss. R e c o g n i t i o n , d e r e c o g n i t i o n a n d measurement Purchases and sales of investments are accounted for on the trade date basis. Investments are initially recognised at fair value, excluding transaction costs which are expensed as incurred, and are subsequently re-measured at fair value. Realised and unrealised gains and losses on investments are included in the statement of comprehensive income in the year in which they arise. Investments are derecognised when the rights to receive cash flows from the investments have expired or the Fund has transferred substantially all risks and rewards of ownership. 2. 主要会计政策（续） (b) 投资（续） 分类（续） (ii) 负债 本基金进行沽空交易，即在预期证券市值下 跌时将其出售，或就不同的套期交易利用沽 空。沽空交易乃为买卖而进行，因此分类为 按公允值透过损益列账的金融负债。有负数 公允值的衍生合约呈报为按公允值透过损益 列账的负债。 因此，本基金将其所有投资组合分类为按公 允值透过损益列账的金融资产或负债。 确认、终止确认及度量 投资的买卖按交易日期记账。投资初始按公 允值确认，不包括已产生的交易成本，此等 成本在产生时支销，并按公允值随后重新度 量。投资的已变现和未变现盈亏在产生的年 度内计入全面收益报表。当从投资收取现金 流的权利已届满，或本基金已将所有权的差 不多所有风险和回报转让后，即终止确认投 资。 35 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (b) Investments (Continued) R e c o g n i t i o n , d e r e c o g n i t i o n a n d measurement (Continued) Subsequent to initial recognition, all financial assets and financial liabilities at fair value through profit or loss are measured at fair value. Gains and losses arising from changes in the fair value of the “financial assets or financial liabilities at fair value through profit or loss” category are presented in the statement of comprehensive income within net change in unrealised appreciation/ depreciation in value of investments and derivative financial instruments in the period in which they arise. Fair value estimation Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market and participants at the measurement date. The fair value of financial assets and liabilities traded in active markets are based on quoted market prices at the close of trading on the reporting date. Investments that are listed or traded on an exchange are fair valued based on quoted last traded prices. Investments which are not listed on an exchange or are thinly traded are valued by using quoted from brokers. Investments in unit trusts or unlisted funds are valued at their net asset value per unit as provided by the respective administrators of such funds. 2. 主要会计政策（续） (b) 投资（续） 确认、终止确认及度量（续） 于初始确认后，所有按公允值透过损益列账 的金融资产和金融负债均按公允值度量。对 于「按公允值透过损益列账的金融资产和金 融负债」类别的公允值变动所产生的盈亏， 于其产生期间内在全面收益报表中的按公允 值透过损益列账的投资及衍生金融工具的未 变现净增值╱贬值变动净额呈报。 公允值估计 公允值指在度量日期，于一般交易中由市场 与参与者出售一项资产而应收取或转让一项 负债而应支付的价格。在活跃市场中买卖的 金融资产和负债的公允值，根据报告日期交 易结束时的市场报价计算。 投资于上市或交易所乃按最后交易价之公允 值计算。 非上市或较少交投量之投资乃按有关经纪提 供的收市买价估值。 投资基金或非上市基金投资方按有关管理人 提供的净资产作估值。 施罗德亚洲高息股债基金 36 Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (c) Derivative financial instruments Derivatives are recognised at fair value on the date on which a derivative contract is entered into and are subsequently re-measured at their fair value. Fair values are obtained from quoted market prices in active markets, including recent market transactions, and valuation techniques, including discounted cash flow models and option pricing models, as appropriate. All derivatives are carried as assets when fair value is positive and as liabilities when fair value is negative. Subsequent changes in the fair value of any derivative instrument are recognised immediately in the statement of comprehensive income. (d) Structured entities A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are directed by means of contractual arrangements. A structured entity often has some or all of the following features or attributes; (a) restricted activities, (b) a narrow and well-defined objective, such as to provide investment opportunities for investors by passing on risks and rewards associated with the assets of the structured entity to investors, (c) insufficient equity to permit the structured entity to finance its activities without subordinated financial support and (d) financing in the form of multiple contractually linked instruments to investors that create concentrations of credit or other risks (tranches). 2. 主要会计政策（续） (c) 衍生金融工具 衍生金融工具乃按衍生金融工具合约订立之 日的公允值入账，其后并按公允值重新之日 的公允值入账，其后并按公允值重新评估。 公允值乃按交投活跃市场（包括近期市场交 易）所报市场价格及估值技巧（包括现金流量 折现模式及期权订价模式，如适用）制定。 若公允值为正数，该衍生金融工具均列作资 产，若公允值为负数，衍生金融工具则列作 负债。 之后衍生工具公允值若有改变，均会即时在 全面收益报表内入账。 (d) 结构性主体 结构性主体指经过特别设计以使其投票权或 类似权利在决定哪一方控制该主体时并非决 定性因素的主体，例如，当任何投票权仅与 行政事务有关，而相关活动是透过合同安排 作出指示。结构性主体通常拥有下列若干或 全部特征或属性：(a)受限制活动，(b)狭义 而明确的目标，例如透过向投资者转嫁与结 构性主体相关的风险和回报，为投资者提供 投资机会，(c)股权不足以在没有后援财政支 持下允许结构性主体为业务融资及(d)以向投 资者发出多个合约挂钩票据的形式融资因而 集中信贷或其他风险（批次）。 37 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (d) Structured entities (Continued) The Fund considers all of its investments in other funds (“Investee Funds”) to be investments in unconsolidated structured entities. The Fund invests in Investee Funds whose objective is to achieve long term capital growth. The Investee Funds are managed by related and unrelated asset managers who apply various investment strategies to accomplish their respective investment objectives. The Investee Funds finance their operations by issuing redeemable shares which are puttable at the holder’s option and entitles the holder to a proportional stake in the respective fund’s net assets. The Fund holds redeemable shares in each of its Investee Funds. The change in fair value of each Investee Funds is included in the statement of comprehensive income in “net change in unrealised appreciation/depreciation in value of investments and derivative financial instruments”. 2. 主要会计政策（续） (d) 结构性主体（续） 本基金将在其他基金（「接受投资基金」）内的 所有投资视为在非合并结构性主体的投资。 本基金投资于接受投资基金的目的是为了取 得资本增长的长远回报。此等接受投资基金 由有关联和无关联的资产经理负责管理，此 等经理采用多种不同的投资策略以达成各自 的投资目标。接受投资基金透过发行可赎回 股份融资其业务，此等可赎回股份可按持有 人的选择售回，并赋予持有人可分占各基金 净资产权益比例的权利。本基金在其每个接 受投资基金中均持有可赎回股份。 各接受投资基金公允值的变动列入全面收益 报表中「投资与衍生财务工具的未变现增 值╱贬值」。 施罗德亚洲高息股债基金 38 Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (e) Income and expenses Dividend income on equity securities is recorded on the ex-dividend date with the corresponding foreign withholding taxes recorded as an expense. Interest income is recognised on a time proportionate basis using the effective interest method. Other income and expenses are accounted for on an accruals basis. (f) Foreign currency translation Functional and presentation currency Items included in the financial statements are measured using the currency of the primary economic environment in which the Fund operates (the “functional currency”). The performance of the Fund is measured and reported to the unitholders in Hong Kong Dollar (“HK$”). The Manager considers HK$ as the currency that most faithfully represents the economic effects of the underlying transactions, events and conditions. The financial statements are presented in HK$, which is the Fund’s functional and presentation currency. 2. 主要会计政策（续） (e) 收益及支出 股利收益乃于除息日当日入账。相关的海外 预缴税入账为支出。 利息收入乃按实际利息法按时间比例基准入 账。 其他收益及开支乃按应计基准计算。 (f) 外币交易 功能及呈列货币 本基金财务报表内所包括的项目乃采用其经 营业务所在的主要经济体系的货币计价（「功 能性货币」）。本基金以港元计算及汇报以港 元之表现。基金管理人认为港元能真诚地表 现出基金内之交易、事项及状况。财务报表 乃以港元（即基金的功能性货币及列账货币） 编列。 39 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (f) Foreign currency translation (Continued) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign currency assets and liabilities are translated into the functional currency using the exchange rate prevailing at the year end date. Foreign exchange gains and losses arising from translation are included in the statement of comprehensive income. Foreign exchange gains and losses relating to cash and cash equivalents are presented in the statement of comprehensive income within “net exchange gains/(losses)”. Foreign exchange gains and losses relating to the financial assets and liabilities carried at fair value through profit or loss are presented in the statement of comprehensive income within “net realised gains/(losses) on investments and derivative financial instruments” and “net change in unrealised appreciation/ depreciation in value of investments and derivative financial instruments”. 2. 主要会计政策（续） (f) 外币交易（续） 交易及结余 外币交易按交易日期适用之汇率折算为功能 性货币。外币资产和负债按年结日之汇率折 算为功能性货币。 汇率换算产生的汇兑盈亏在全面收益报表确 认。 与现金及现金等价物有关的汇兑盈亏在全面 收益报表内的「汇兑净收益╱（亏损）」中呈 列。 与按公允值透过损益列账的财务资产及财务 负债有关的汇兑盈亏在全面收益报表内的 「投资及衍生金融工具的已变现净收益╱（亏 损）」、「投资及衍生金融工具的未变现增 值╱贬值」中呈列。 施罗德亚洲高息股债基金 40 Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (g) Offsetting financial instruments Financial assets and liabilities are offset and the net amount is reported in the statement of financial position when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis, or realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the company or the counterparty. (h) Amounts receivable on disposal/payable on purchase of investments Amounts receivable on disposal/payable on purchase of investments represent receivables for investments sold and payables for investment purchased that have been contracted for but not yet settled or delivered on the statement of financial position date respectively. 2. 主要会计政策（续） (g) 金融工具抵销 若存在法律上可行权的权利，可对已确认入 帐的项目进行抵销，且有意以净额方式清 算，或将资产变现并同时清偿债务，则财务 资产及负债可予抵销，并把净额于财务状况 报表内列帐。 法定可执行权利必须不得依赖未来事件而 定，而在一般业务过程中以及倘公司或对手 方一旦出现违约、无偿债能力或破产时，这 也必须具有约束力。 (h) 应收及应付的买卖投资 应收及应付的买卖投资款项指已订约但于财 务状况报表的日期仍未清算或交付的出售投 资及衍生金融工具应收款项及衍生金融工具 购买投资应付款项。 41 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (i) Accounts receivables Accounts receivables are recognised initially at fair value and subsequently measured at amortised cost. At each reporting date, the Fund shall measure the loss allowance on amounts due from counterparties at an amount equal to the lifetime expected credit losses if the credit risk has increased significantly since initial recognition. If, at the reporting date, the credit risk has not increased significantly since initial recognition, the Fund shall measure the loss allowance at an amount equal to 12-month expected credit losses. Significant financial difficulties of the counterparties, probability that the counterparties will enter bankruptcy or financial reorganisation, and default in payments are all considered indicators that a loss allowance may be required. If the credit risk increases to the point that it is considered to be credit impaired, interest income will be calculated based on the gross carrying amount adjusted for the loss allowance. A significant increase in credit risk is defined by management as any contractual payment which is more than 30 days past due. Any contractual payment which is more than 90 days past due is considered credit impaired. Accounts receivables are classified as current assets if the collections of receivables are expected within one year. If not, they are presented as non-current assets. 2. 主要会计政策（续） (i) 应收账款 应收账款初步按公允值确认，其后按摊销成 本度量。于每个报告日期，假若在初步确认 后信贷风险已显著增加，本基金须度量应收 对手方款项的损失准备，金额相当于全期预 期信贷亏损。假若于报告日期，信贷风险在 初步确认后未有显著增加，本基金会按十二 个月期的预期信贷亏损度量其损失准备。 对手方的严重财务困难、可能进行破产或财 务重组，以及延迟付款等均被视为是可能需 要计提损失准备金的指标。假若信贷风险增 加至被视为已出现信贷减值，则利息收益将 按总账目金额计算并就损失准备作出调整。 管理层对信贷风险的显著增加定义为任何已 逾期超过三十日的合约付款。任何合约付款 如已逾期超过九十日，将被视为是信贷减 值。 如应收账款预期可在一年内收取，将此等账 款分类为流动资产。如不预期在一年内收 取，则呈列为非流动资产。 施罗德亚洲高息股债基金 42 Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (j) Accounts payables and accruals Accounts payables and accruals are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. Accounts payables and accruals are classified as current liabilities if payment is due within one year. If not, they are presented as non-current liabilities. (k) Distributions payable Proposed distributions to unitholders are recognised in the statement of comprehensive income when they are appropriately authorised by the Manager and no longer at the discretion of the Fund. The distribution on the redeemable units is recognised as a finance cost in the statement of comprehensive income. (l) Cash and cash equivalents Cash and cash equivalents include cash in hand, bank and demand deposits, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts, if any. (m) Margin accounts Margin accounts represent margin deposits held in respect of futures contracts. 2. 主要会计政策（续） (j) 应付账款及应计款项 应付账款及应计款项初始按公允值确认，其 后利用实际利率法按摊销成本入账。如款项 须在一年或以内支付，将应付账款及应计款 项分类为流动负债。如不须在一年或以内支 付，则呈列为非流动负债。 (k) 应付股利 建议分派予份额持有人之股利当获基金管理 人正式批准及不再由基金酌情决定时于全面 收益报表内确认。派息予可赎回份额于全面 收益报表内以财务成本列帐。 (l) 现金及现金等值 现金及现金等值指现金、银行活期存款以及 存款存放日期起计在三个月内到期之高流通 性的投资及现金透支（如有）。 (m) 保证金户口 保证金户口存放了未平仓期货合约之保证 金。 43 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (n) Cash collateral Based on agreements entered between brokers and the Fund, one party will have an obligation to pay cash collateral for the return of the portfolio of derivative attributable to the counterparty if the return of the portfolio of derivative equals or exceeds a predetermined threshold at any valuation date. The movement of derivative is marked to market daily, which determines whether the Fund receives from or pays cash collateral to the counterparty on a daily basis. (o) Taxation The tax expense for the year comprises of current income tax and deferred income tax. Tax expense is recognised in the statement of comprehensive income. Current income tax The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the statement of financial position date in the countries where the Fund operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. 2. 主要会计政策（续） (n) 现金抵押金 根据经纪商与基金之间签订的协议，如果一 方应归属的衍生产品投资组合的回报于某一 交易日等于或超过预定限度，则另一方将有 义务为对方应归属的衍生产品组合的回报支 付现金抵押品。衍生品的价格走势会每天按 市值计价，来按日决定基金会否收到或支付 对手方的现金抵押品。 (o) 税项 本期间的税项支出包括当期和递延税项。税 项在全面收益报表中确认。 当期所得税 当期所得税支出根据本基金产生应课税收益 的国家于报告日期日已颁布或实质上已颁布 的税务法例计算。管理层就适用税务法例解 释所规限的情况定期评估报税表的状况，并 在适用情况下根据预期须向税务机关支付的 税款设定准备。 施罗德亚洲高息股债基金 44 Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (o) Taxation (Continued) Deferred income tax Deferred income tax is recognised, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill, the deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the statement of financial position date and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled. Deferred income tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. 2. 主要会计政策（续） (o) 税项（续） 递延所得税 递延所得税利用负债法确认资产和负债的税 基与资产和负债在财务报表的账面值的差额 而产生的暂时性差异。然而，若递延所得税 负债来自对商誉的初始确认，以及若递延所 得税来自在交易（不包括业务合并）中对资产 或负债的初始确认，而在交易时不影响会计 损益或应课税利润或损失，则不作记账。递 延所得税采用在财务负债表日前已颁布或实 质上已颁布，并在有关的递延所得税资产实 现或递延所得税负债清算时预期将会适用的 税率（及法例）而制定。 递延所得税资产仅于未来可能会产生应课税 溢利以抵扣可动用暂时性差异的情况下确 认。 45 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (o) Taxation (Continued) Offsetting Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income tax assets and liabilities relate to income taxes levied by the same taxation authority on either the taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. (p) Redeemable units Redeemable units are classified as financial liabilities and are issued or redeemed at the holder’s option at prices based on the Fund’s net asset value per unit as at the close of business on the relevant dealing day. The Fund’s net asset value per unit is calculated by dividing the net assets attributable to the unitholders with the total number of outstanding units. (q) Changes to presentation and comparative information When the presentation or classification of items in relation to transaction costs and transaction handling fees in the financial statements is amended, comparative amounts have been updated to conform with the current year’s presentation or classification. 2. 主要会计政策（续） (o) 税项（续） 抵销 当有法定可执行权力将当期税项资产与当期 税务负债抵销，且递延所得税资产及负债涉 及由同一税务机关对该应课税实体或不同的 应课税实体但有意向以净额基准清算所得税 结余时，则可将递延所得税资产与负债互相 抵销。 (p) 可赎回基金份额 可赎回份额已分类为财务负债，份额持有人 可于营业日交易时间内认购或赎回份额。每 份额净资产以分配给份额持有人净资产除以 已发行份额总数计算。 (q) 呈报及比较资讯的变动 当财务报表内与交易成本及交易手续费相关 项目的呈报或分类作出修订时，相关的比较 金额也会更新以符合本年度的呈报或分类方 式。 施罗德亚洲高息股债基金 46 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (a) Strategy in using financial instruments The Fund’s objective is to provide income and capital growth over the medium to longer term by investing primarily in Asian equities and Asian fixed income securities. The Fund will actively allocate between Asian equities, Asian fixed income securities, other asset classes and cash and money market instruments to achieve the Fund’s objectives. The Fund’s expected asset allocation ranges for each asset class is expected to be the following: Asian equities: 30 – 70% Asian fixed income: 30 – 70% Other asset classes: 0 – 20% Cash and money market instruments: 0 – 30% The Fund is exposed to market price risk, interest rate risk, credit risk, currency risk and liquidity risk arising from the financial instruments held. The risks and the respective risk management policies employed by the Fund to manage these risks are discussed below. (b) Market price risk Market price risk is the risk that the value of a financial instrument will fluctuate as a result of changes in market prices, whether those changes are caused by factors specific to the individual instrument or factors affecting all instruments in the market. All investments present a risk of loss of capital. The Fund’s market price risk is managed through diversification of the investment portfolio. The Fund’s overall market positions are monitored on a regular basis by the Manager. 3. 财务风险管理 (a) 运用金融工具的策略 本基金的目标是主要透过投资于亚洲股票和 亚洲定息证券，以提供收益及中期至长期的 资本增值。 本基金将积极地投资在亚洲股票、亚洲定息 证券、其他种类的资产、现金和货币市场工 具之间进行配置，以达致本基金的目标。本 基金各资产种类的预计资产配置范围如下： 亚洲股票： 30-70% 亚洲定息收益： 30-70% 其他资产种类： 0-20% 现金和货币市场工具： 0-30% 本基金须承担所持有金融工具所产生的市场 价格风险、利率风险、信贷风险、汇兑风险 及流通性风险。 本基金的风险承担及用以管理此等风险而采 用的风险管理政策探讨如下： (b) 市场价格风险 市场价格风险指金融工具价值因市场价格变 动而波动不定的风险，不论该等变动乃由个 别工具相关因素又或因为影响市场上所有工 具的因素而导致。 所有投资项目均面对资本亏损风险。本基金 乃透过分散投资组合来管理市场价格风险。 基金管理人定期对本基金的整体市场持仓进 行监控。 47 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (b) Market price risk (Continued) As at 30th June 2021 and 2020, the overall market exposures were as follows: 2021 二零二一年 2020 二零二零年 Fair value % of net assets Fair value % of net assets 公平价值 占净资产 百分比 公平价值 占净资产 百分比 HK$ 港元 HK$ 港元 Assets 资产 Held for trading 持有作交易用： Equities 股票 14,793,012,099 47.18% 13,683,538,164 46.58% Investment funds 投资基金 3,356,280,508 10.71% 2,558,835,462 8.71% Debt securities 债务证券 11,766,159,627 37.53% 11,905,714,193 40.53% Credit default swaps 信贷违约掉期 – – 6,154,434 0.02% Futures 期货 8,409,262 0.03% – – Foreign exchange forward contracts 远期外汇合约 89,300,284 0.28% 49,550,995 0.17% 30,013,161,780 95.73% 28,203,793,248 96.01% Liabilities 负债 Credit default swaps 信贷违约掉期 (4,212,559) (0.01%) – – Futures 期货 (18,155,291) (0.06%) (27,006,617) (0.09%) Foreign exchange forward contracts 远期外汇合约 (174,181,617) (0.56%) (19,136,520) (0.07%) (196,549,467) (0.63%) (46,143,137) (0.16%) 29,816,612,313 95.10% 28,157,650,111 95.85% Total investments and derivative financial instruments, at cost 总投资及衍生金融工具以成本计 26,419,664,559 28,945,941,276 3. 财务风险管理（续） (b) 市场价格风险（续） 截至二零二一年及二零二零年六月三十日， 本基金的整体市场风险承担如下： 施罗德亚洲高息股债基金 48 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (b) Market price risk (Continued) The table below summarises the market exposures of the Fund as at 30th June 2021 and 2020: 2021 二零二一年 2020 二零二零年 % of net assets % of net assets 占净资产百分比 占净资产百分比 Held for trading 持有作交易用： Equities 股票 Australia 澳大利亚 9.85% 11.85% Hong Kong 香港 12.74% 11.58% India 印度 4.77% 4.04% Indonesia 印尼 – 0.94% Japan 日本 0.56% 0.53% New Zealand 新西兰 0.73% 0.94% Singapore 新加坡 6.13% 12.01% South Korea 南韩 5.40% 1.36% Taiwan 台湾 5.86% 1.24% Thailand 泰国 0.81% 2.09% United States 美国 0.33% – 47.18% 46.58% Investment funds 投资基金 Hong Kong 香港 4.71% 4.78% Luxembourg 卢森堡 6.00% 3.93% 10.71% 8.71% Debt securities 债务证券 Australia 澳大利亚 0.99% 1.42% Austria 奥地利 0.08% – Bahrain 巴林 0.15% 0.10% Bermuda 百慕达 0.16% – Brazil 巴西 0.44% 0.38% British Virgin Islands 英属维尔京群岛 2.45% 1.82% 3. 财务风险管理（续） (b) 市场价格风险（续） 下表归纳于二零二一年及二零二零年六月 三十日本基金的市场风险承担： 49 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 2021 二零二一年 2020 二零二零年 % of net assets % of net assets 占净资产百分比 占净资产百分比 Held for trading (Continued) 持有作交易用（续）： Debt securities (Continued) 债务证券（续） Cambodia 柬埔寨 0.11% 0.20% Canada 加拿大 – 0.35% Cayman Islands 开曼群岛 1.52% 2.13% Chile 智利 0.48% 0.76% China 中国 9.07% 9.65% Colombia 哥伦比亚 0.06% 0.09% Egypt 埃及 – 0.13% Great Britain 英国 0.08% 0.20% Hong Kong 香港 6.13% 7.71% India 印度 1.80% 1.59% Indonesia 印尼 3.42% 3.63% Israel 以色列 – 0.14% Japan 日本 0.26% 0.18% Kuwait 科威特 0.54% 0.38% Luxembourg 卢森堡 0.50% 1.00% Macau 澳门 0.14% 0.05% Malaysia 马来西亚 0.45% 0.52% Mauritius 毛里求斯 0.37% 0.12% Mexico 墨西哥 1.14% 1.03% Netherlands 荷兰 0.74% 1.60% Oman 阿曼 0.09% – Peru 秘鲁 0.32% 0.50% Philippines 菲律宾 1.54% 0.66% Qatar 卡塔尔 – 0.44% Singapore 新加坡 1.95% 1.36% South Korea 南韩 1.12% 0.57% Spain 西班牙 0.22% 0.13% Taiwan 台湾 – 0.37% Thailand 泰国 0.41% 0.22% United Arab Emirates 阿联酋 0.42% 0.59% United States 美国 0.38% 0.51% 37.53% 40.53% 3. FINANCIAL RISK MANAGEMENT (Continued) (b) Market price risk (Continued) 3. 财务风险管理（续） (b) 市场价格风险（续） 施罗德亚洲高息股债基金 50 Notes to the Financial Statements 财务报表之注釋 2021 二零二一年 2020 二零二零年 % of net assets % of net assets 占净资产百分比 占净资产百分比 Held for trading (Continued) 持有作交易用（续）： Credit default swap 信贷违约掉期 United States 美国 (0.01%) 0.02% (0.01%) 0.02% Futures 期货 Hong Kong 香港 (0.00%) – United States 美国 (0.03%) (0.09%) (0.03%) (0.09%) Foreign exchange forward contracts 远期外汇合约 AUD vs USD (forward date: 21/07/2021) 0.00% – CNH vs USD (forward date: 21/07/2021) 0.00% – USD vs AUD (forward date: 21/07/2021) 0.00% – USD vs CNH (forward date: 21/07/2021) 0.00% – USD vs GBP (forward date: 21/07/2021) 0.00% – USD vs AUD (forward date: 22/07/2021) 0.26% – USD vs SGD (forward date: 22/07/2021) 0.02% – USD vs TWD (forward date: 22/07/2021) 0.00% – AUD vs USD (forward date: 21/07/2021) (0.31%) – CNH vs USD (forward date: 21/07/2021) (0.21%) – GBP vs USD (forward date: 21/07/2021) (0.02%) – USD vs AUD (forward date: 21/07/2021) (0.00%) – USD vs CNH (forward date: 21/07/2021) (0.01%) – USD vs KRW (forward date: 22/07/2021) (0.01%) – (0.28%) – 3. FINANCIAL RISK MANAGEMENT (Continued) (b) Market price risk (Continued) 3. 财务风险管理（续） (b) 市场价格风险（续） 51 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 2021 二零二一年 2020 二零二零年 % of net assets % of net assets 占净资产百分比 占净资产百分比 Held for trading (Continued) 持有作交易用（续）： Foreign exchange forward contracts (Continued) 远期外汇合约（续） AUD vs USD (forward date: 21/07/2020) – 0.11% CNH vs USD (forward date: 21/07/2020) – 0.04% GBP vs USD (forward date: 21/07/2020) – 0.00% USD vs AUD (forward date: 21/07/2020) – 0.00% USD vs CNH (forward date: 21/07/2020) – 0.00% USD vs GBP (forward date: 21/07/2020) – 0.00% USD vs TWD (forward date: 20/08/2020) – 0.02% AUD vs USD (forward date: 21/07/2020) – (0.00%) CNH vs USD (forward date: 21/07/2020) – (0.00%) GBP vs USD (forward date: 21/07/2020) – (0.01%) USD vs AUD (forward date: 21/07/2020) – (0.00%) USD vs CNH (forward date: 21/07/2020) – (0.00%) USD vs AUD (forward date: 20/08/2020) – (0.05%) USD vs CNH (forward date: 20/08/2020) – (0.01%) USD vs HKD (forward date: 20/08/2020) – (0.00%) – 0.10% 95.10% 95.85% 3. FINANCIAL RISK MANAGEMENT (Continued) (b) Market price risk (Continued) 3. 财务风险管理（续） (b) 市场价格风险（续） 施罗德亚洲高息股债基金 52 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (b) Market price risk (Continued) As at 30th June 2021 and 2020, the Fund had no investments issued by the same issuer with market value exceeding 10% of its net assets. The table below summarises the impact on the Fund’s net assets attributable to unitholders as a result of increases/ (decreases) of the key index to which the Fund’s underlying investments are exposed. The analysis is based on the assumption that the index had increased/(decreased) by the respective percentage with all other variables held constant and the fair value of the Fund’s investments moved according to the historical correlation with the index. Market price risk for debt securities is disclosed in note 3(c) under interest rate risk. 3. 财务风险管理（续） (b) 市场价格风险（续） 截至二零二一年及二零二零年六月三十日， 本基金没有投资于单一发行者而且其市值超 过本基金净资产百分之十。 下表概述倘若本基金相关投资所涉及主要指 数上升╱（下跌）对本基金分配给份额持有人 净资产构成的影响。分析乃假设各指数按有 关百分比上升╱（下跌）（而其指数按有关百 分 比 上 升 ╱（ 下 跌 ）（ 而 其 他 变 数 保 持 稳 定））、而本基金投资项目的公平价值乃按历 年与各指数的关连度而变动。投资于债务证 券的基金之市场价格风险乃于注釋3(c)利率 风险项下披露。 53 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (b) Market price risk (Continued) 30th June 2021 二零二一年六月三十日 30th June 2020 二零二零年六月三十日 Benchmark components 基准指标 Change in benchmark components by 相关指标的变动 Impact on net assets attributable to unitholders 分配给 份额持有人 净资产的影响 Change in benchmark components by 相关指标的变动 Impact on net assets attributable to unitholders 分配给 份额持有人 净资产的影响 Portfolio investment 投资组合 % HK$ 港元 % HK$ 港元 Asian Equities 亚洲股票 MSCI AC Asia Pacific ex Japan 3.2% 378,421,093 5% 658,482,049 Japanese REITs 日本房地产投资 信托基金 Tokyo Stock Exchange REIT Index 2.5% 5,657,214 5% 13,402,317 Investment funds 投资基金 – Schroder International Selection Fund Asian Equity Yield USD Class I Acc 施罗德环球基金系列 亚洲收益股票美元 I类别累积股份 MSCI AC Pacific Ex Japan NR 2.5% 36,928,489 5% 37,390,592 – Other funds 其他基金 N/A* 2.5% 44,846,175 5% 97,867,021 3. 财务风险管理（续） (b) 市场价格风险（续） * The Manager considers that there is no benchmark components for these investment funds. The 2.5% (2020: 5%) change in the fair value of the investment funds leads to the same impact on the net assets attributable to unitholders. 基金管理人认为投资基金并没有基准指标。投资基金的公允值变动2.5%（二零二零年：5%）会导 致份额持有人净资产有相同的影响。 施罗德亚洲高息股债基金 54 Notes to the Financial Statements 财务报表之注釋 3. 财务风险管理（续） (b) 市场价格风险（续） 基金管理人乃根据其对每一主要市场的「合 理变动」的看法来估计上述市场敏感度分析 的变动。 上述披露乃以绝对值列示，变动及影响可属 正数或负数。市场指数变动百分比乃根据基 金管理人当时对市场波幅及其他有关因素的 见解而按年作出修订。 本基金在接受投资基金中的投资，受各个接 受投资基金的发售文件中列明的条款和条件 所约束，并容易受到与该等接受投资基金未 来价值有关的不确定性而产生的市场价格风 险所影响。本基金可于每日要求赎回其在接 受投资基金中的投资权利。 3. FINANCIAL RISK MANAGEMENT (Continued) (b) Market price risk (Continued) The Manager has used their view of what would be a “reasonable shift” in each key market to estimate the change for use in the market sensitivity analysis above. Disclosures above are shown in absolute terms, changes and impacts could be positive or negative. Changes in market index % are revised annually depending on the Manager’s current view of market volatility and other relevant factors. The Fund’s investments in Investee Funds are subject to the terms and conditions of the respective Investee Funds’ offering documents and are susceptible to market price risk arising from uncertainties about future values of those Investee Funds. The right of the Fund to request redemption of its investments in the Investee Funds is on daily basis. 55 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (b) Market price risk (Continued) The exposure to investments in Investee Funds at fair value by strategy employed is disclosed in the following table. These investments are included in “Investments” in the statement of financial position. 2021 二零二一年 2020 二零二零年 Type of investment funds 投资基金种类 Number of Investee Funds 接受投资 基金之数量 Fair value 公平价值 % of net assets 占净资产 百分比 Number of Investee Funds 接受投资 基金之数量 Fair value 公允值 % of net assets 占净资产 百分比 HK$ 港元 HK$ 港元 Multi asset fund 多重资产基金 2 1,800,724,295 5.75% 2 1,759,976,313 5.99% Fixed income fund 固定收益基金 – – – 1 27,676,511 0.09% Equities fund 股票基金 1 1,555,556,213 4.96% 1 771,182,638 2.63% 3,356,280,508 10.71% 2,558,835,462 8.71% The Fund’s holding in a third party Investee Fund, as a percentage of the Investee Fund’s total net asset value, will vary from time to time dependent on the volume of subscriptions and redemptions at the Investee Fund level. It is possible that the Fund may, at any point in time, hold a majority of an Investee Fund’s total units in issue. 3. 财务风险管理（续） (b) 市场价格风险（续） 在接受投资基金中的投资的风险承担，其公 允值按所应用的策略在下表中披露。此等投 资在财务状况报表中列入「投资」一项。 本基金持接受投资基金的股权（按该接受投 资基金总资产值的百分比计算）将因应时间 而改变，视乎该接受投资基金水平的认购和 赎回数量而定。本基金有可能会在某个时 点，持有某一接受投资基金的大部分已发行 基金份额总数。 施罗德亚洲高息股债基金 56 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (b) Market price risk (Continued) During the year ended 30th June 2021, the total net gains incurred on investments in Investee Funds were HK$923,103,360 (2020: total net losses of HK$83,424,944). As at 30th June 2021 and 2020, there were no capital commitment obligations and no amounts due to investee funds for unsettled purchases. (c) Interest rate risk Interest rate risk is the risk that the value of a financial instrument will fluctuate due to changes in market interest rates. At 30th June 2021, the Fund had bank balances of HK$1,073,057,120 (2020: HK$1,164,773,292) and the margin deposits with interest bearing of HK$177,237,506 (2020: HK$70,399,182). No sensitivity analysis is prepared as the bank balances and margin deposits are short-term in nature, and are therefore exposed to minimal interest rate risk on these bank balances. 3. 财务风险管理（续） (b) 市场价格风险（续） 截至二零二一年六月三十日止年度，就 接受投资基金的投资而产生的净收益为 923,103,360 港元。（二零二零年：净亏损 83,424,944港元）。在二零二一年及二零二 零年六月三十日，本基金并无资金承担责 任，亦没有应付接受投资基金的未清算购买 产生的金额。 (c) 利率风险 利率风险指金融工具价值因市场利率变动而 波动不定的风险。 于二零二一年六月三十日，本基金的银行结 余 为 1,073,057,120 港 元（ 二 零 二 零 年： 1,164,773,292港元）及付息保证金结余为 177,237,506港元（二零二零年：70,399,182 港元）。本基金并未就该等短期性质之银行 结余及付息保证金作利率风险敏感度分析， 而本基金对于该等存款所需承担之利率风险 为极少。 57 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. 财务风险管理（续） (c) 利率风险（续） 于二零二一年六月三十日，本基金持投资于 债务证券之价值为11,766,159,627港元（二 零二零年：11,905,714,193港元）及相关投 资基金投资于债务证券之市场价值为0港元 （二零二零年：27,676,511港元）。倘若利率 下降╱上升六十基点（二零二零年：二十基 点）（而其他变数保持稳定），本年度分配给 份 额 持 有 人 净 资 产 则 会 增 加 ╱ 减 少 约 328,075,864 港 元（ 二 零 二 零 年： 106,140,779港元），主要来自投资于债务证 券市场的基金之价值的上升╱下跌。 基金管理人乃根据其对市场利率的「合理变 动」看法来估计上述利率风险敏感度分析所 采用的变动。 上述披露乃以绝对值列示，变动及影响可属 正数或负数。基点的变更乃根据基金管理人 对当时市场波幅及其他有关因素的见解而按 年作出修订。 3. FINANCIAL RISK MANAGEMENT (Continued) (c) Interest rate risk (Continued) At 30th June 2021, the debt securities held by the Fund amounted to HK$11,766,159,627 (2020: HK$11,905,714,193) and there were no underlying investment funds, which are invested in debt securities as at 30th June 2021 (2020: HK$27,676,511). Should interest rates have lowered/ risen by 60 basis points (2020: 20 basis points) with all other variables remaining constant, the increase/decrease in net assets attributable to unitholders for the year would amount to approximately HK$328,075,864 (2020: HK$106,140,779), arising from the increase/decrease in market values of the debt securities. The Manager has used their view of what would be a “reasonable possible shift” in the market interest rates to estimate the change for use in the interest rate risk sensitivity analysis above. Disclosures above are shown in absolute terms, changes and impacts could be positive or negative. Changes in basis points are revised annually depending on the Manager’s current view of market interest rate sensitivity and other relevant factors. 施罗德亚洲高息股债基金 58 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (c) Interest rate risk (Continued) The table below summarises the Fund’s exposure to interest rate risk categorised by the earlier of contractual re-pricing or maturity dates. Up to 1 year 少于一年 1-5 years 一年至五年 Over 5 years 五年以上 Non-interest bearing 非付息 Total 总值 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 As at 30th June 2021 截至二零二一年六月三十日 Assets 资产 Cash and bank deposits 现金及银行存款 1,073,057,120 – – – 1,073,057,120 Investments 投资 258,009,775 4,067,353,262 7,440,796,590 18,149,292,607 29,915,452,234 Derivative financial instruments 衍生金融工具 – – – 97,709,546 97,709,546 Margin deposits 保证金 177,237,506 – – 158,938,321 336,175,827 Cash collateral 现金抵押品 – – – 3,416,974 3,416,974 Other assets 其他资产 – – – 492,254,861 492,254,861 Total assets 资产总值 1,508,304,401 4,067,353,262 7,440,796,590 18,901,612,309 31,918,066,562 Liabilities 负债 Derivative financial instruments 衍生金融工具 – – – 196,549,467 196,549,467 Cash collateral liabilities 现金抵押品负债 – – – 3,339,316 3,339,316 Other liabilities 其他负债 – – – 366,995,383 366,995,383 Total liabilities 负债总值 – – – 566,884,166 566,884,166 Total interest sensitivity gap 总利率敏感度的差距 1,508,304,401 4,067,353,262 7,440,796,590 3. 财务风险管理（续） (c) 利率风险（续） 下表概述基金所需承担之利率风险并以较早 之合约重订日或到期日呈列。 59 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (c) Interest rate risk (Continued) Up to 1 year 少于一年 1-5 years 一年至五年 Over 5 years 五年以上 Non-interest bearing 非付息 Total 总值 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 As at 30th June 2020 截至二零二零年六月三十日 Assets 资产 Cash and bank deposits 现金及银行存款 1,164,773,292 – – – 1,164,773,292 Investments 投资 316,313,203 4,521,446,146 7,067,954,844 16,242,373,626 28,148,087,819 Derivative financial instruments 衍生金融工具 – – – 55,705,429 55,705,429 Margin deposits 保证金 70,399,182 – – 44,270,530 114,669,712 Cash collateral 现金抵押品 – – – 8,990,522 8,990,522 Other assets 其他资产 – – – 394,488,158 394,488,158 Total assets 资产总值 1,551,485,677 4,521,446,146 7,067,954,844 16,745,828,265 29,886,714,932 Liabilities 负债 Derivative financial instruments 衍生金融工具 – – – 46,143,137 46,143,137 Cash collateral liabilities 现金抵押品负债 – – – 6,122,855 6,122,855 Other liabilities 其他负债 – – – 457,006,039 457,006,039 Total liabilities 负债总值 – – – 509,272,031 509,272,031 Total interest sensitivity gap 总利率敏感度的差距 1,551,485,677 4,521,446,146 7,067,954,844 3. 财务风险管理（续） (c) 利率风险（续） 施罗德亚洲高息股债基金 60 Notes to the Financial Statements 财务报表之注釋 3. 财务风险管理（续） (d) 信贷和交易对手风险 信贷风险指发行机构或交易对手无法或不愿 意于到期兑现与本基金的承诺。 有可能令本基金面对集中信贷风险的金融资 产主要为透过托管人持有的投资项目及银行 结余。 本基金的投资及合约承诺，大部分均由具合 适信贷评级的发行商所发行，并由基金经理 认为其根基稳固、信贷评级良好的财务机构 进行交易，从而限制其信贷风险。 所有交易均通过经核准的经纪于交付时清 算╱付款。由于在经纪收款后始交付有关投 资项目，所以违约风险甚低。购入的投资项 目款项于经纪收到相关之投资项目后支付。 若任何一方不能履行其责任，交易将告失 效。 下表概述于二零二一年及二零二零年六月 三十日存放于银行及托管人的资产： 3. FINANCIAL RISK MANAGEMENT (Continued) (d) Credit and counterparty risk Credit risk is the risk that an issuer or counterparty will be unable or unwilling to meet a commitment that it has entered into with the Fund. The Fund’s financial assets which are potentially subject to concentrations of credit risk consist principally of bank deposits and assets held with the custodians. The Fund limits its exposure to credit risk by transacting the majority of its investments and contractual commitment activities with broker-dealers, banks and regulated exchanges with high credit ratings and that the Fund considers to be well established. All transactions in investments are settled/ paid for upon delivery using approved and reputable brokers. The risk of default is considered minimal as delivery of investments sold is only made once the broker has received payment. Payment is made on a purchase once the investments have been received by the broker. The trade will fail if either party fails to meet its obligation. The table below summarises the assets placed with banks and custodian at 30th June 2021 and 2020: 61 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (d) Credit and counterparty risk (Continued) 30th June 2021 二零二一年六月三十日 HK$ 港元 Credit rating 信贷评级 Source of credit rating 信贷评级来源 Custodian 托管人 HSBC Institutional Trust Services (Asia) Limited 29,915,452,234 P-1 Moody’s 穆迪 Banks 银行 The Hongkong and Shanghai Banking Corporation Limited, Hong Kong 1,073,057,120 P-1 Moody’s 穆迪 UBS AG, Singapore Branch 276,507,372 P-1 Moody’s 穆迪 UBS Securities Pte. Ltd., Seoul Branch 59,668,455 P-1 Moody’s 穆迪 Cash collateral 现金抵押品 Barclays Bank PLC 3,416,974 P-1 Moody’s 穆迪 30th June 2020 二零二零年六月三十日 HK$ 港元 Credit rating 信贷评级 Source of credit rating 信贷评级来源 Custodian 托管人 HSBC Institutional Trust Services (Asia) Limited 28,148,087,819 P-1 Moody’s 穆迪 Banks 银行 The Hongkong and Shanghai Banking Corporation Limited, Hong Kong 1,164,773,292 P-1 Moody’s 穆迪 UBS AG, Singapore Branch 112,656,011 P-1 Moody’s 穆迪 UBS Securities Pte. Ltd., Seoul Branch 2,013,701 P-1 Moody’s 穆迪 Cash collateral 现金抵押品 Morgan Stanley and Co Intl, London 8,990,522 P-2 Moody’s 穆迪 3. 财务风险管理（续） (d) 信贷和交易对手风险（续） 施罗德亚洲高息股债基金 62 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (d) Credit and counterparty risk (Continued) Derivative financial instruments represent outstanding futures, foreign exchange forward contracts and credit default swaps as disclosed in note 5. As at year end, the counterparties of the outstanding derivative financial instruments are listed as follows: 30th June 2021 二零二一年六月三十日 Counterparties 交易对手 Foreign exchange forward contracts 远期外汇合约 Credit rating 信贷评级 Source of credit rating 信贷评级来源 Goldman Sachs Intl, London P-1 Moody’s 穆迪 Morgan Stanley and Co Intl, London P-1 Moody’s 穆迪 The Bank of New York Mellon P-1 Moody’s 穆迪 The Hongkong and Shanghai Banking Corporation Limited, Hong Kong P-1 Moody’s 穆迪 State Street Bank and Trust Company, London P-1 Moody’s 穆迪 Futures 期货 UBS AG, Singapore Branch P-1 Moody’s 穆迪 Credit default swaps 信贷违约掉期 Barclays Bank PLC P-1 Moody’s 穆迪 BNP Paribas P-1 Moody’s 穆迪 JPMorgan Chase Bank NA New York P-1 Moody’s 穆迪 3. 财务风险管理（续） (d) 信贷和交易对手风险（续） 衍生金融工具指注釋5所披露的未平仓之期 货交易、远期外汇合约及信贷违约掉期。 于年终未平仓之衍生金融工具的交易对手如 下： 63 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (d) Credit and counterparty risk (Continued) 30th June 2020 二零二零年六月三十日 Counterparties 交易对手 Foreign exchange forward contracts 远期外汇合约 Credit rating 信贷评级 Source of credit rating 信贷评级来源 ANZ Bank Melbourne P-1 Moody’s 穆迪 Goldman Sachs Intl, London P-1 Moody’s 穆迪 The Hongkong and Shanghai Banking Corporation Limited, Hong Kong P-1 Moody’s 穆迪 Morgan Stanley and Co Intl, London P-2 Moody’s 穆迪 Nomura International Plc WR Moody’s 穆迪 Futures 期货 UBS AG, Singapore Branch P-1 Moody’s 穆迪 Credit default swaps 信贷违约掉期 Barclays Bank PLC P-2 Moody’s 穆迪 The Hongkong and Shanghai Banking Corporation Limited, Hong Kong P-1 Moody’s 穆迪 The Fund holds debt securities and is therefore exposed to risk that the issuers may not be able to repay the principal amount at maturity and interest. This risk is mitigated as the debt securities held are subject to the requirements of maximum holding of 10% of net asset value for any single issuer except for those issued by Government and other public securities. 3. 财务风险管理（续） (d) 信贷和交易对手风险（续） 本基金持有的债务证券令其承受因发行机构 未能于到期日交付本金及利息之风险。为限 制此风险，本基金持有的债务证券符合不能 持有由单一发行机构发行的债务证券多于百 分之十的净资产值，由政府及其他公共机构 发行的债务证券除外。 施罗德亚洲高息股债基金 64 Notes to the Financial Statements 财务报表之注釋 3. 财务风险管理（续） (d) 信贷和交易对手风险（续） 下表概述于二零二一年及二零二零年六月 三十日本基金持有之债务证券所拥有标准普 尔、穆迪或惠誉所提供的信贷评级： 3. FINANCIAL RISK MANAGEMENT (Continued) (d) Credit and counterparty risk (Continued) The table below summarises the credit rating of the debt securities of the Fund by S&P’s, Moody’s or Fitch at 30th June 2021 and 2020: Portfolio by rating category 投资组合所拥有的信贷评级 2021 二零二一年 % of net assets 占净资产百分比 2020 二零二零年 % of net assets 占净资产百分比 AA 0.07% 0.18% AA+ 0.06% – AA- 0.20% 0.45% Aa2 0.13% 0.17% Aa3 – 0.13% A1 0.42% 0.29% A2 0.93% 0.30% A2 *- – 0.13% A3 0.47% 0.59% A+ 2.66% 2.96% A 1.46% 1.69% A- 1.81% 1.83% BBB+ *- – 0.32% BBB+ 4.16% 4.14% BBB 5.03% 4.43% BBB- 1.90% 1.96% BBB-*- – 0.22% BB+ 0.65% 0.95% BB 0.94% 0.48% BB- *- 0.04% 0.05% BB- 2.24% 2.59% Baa1 1.63% 2.75% Baa2 2.48% 2.32% Baa2 *- 0.45% – Baa3 1.38% 1.65% Ba1 0.50% 0.32% Ba2 0.82% 1.21% 65 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 Portfolio by rating category (Continued) 投资组合所拥有的信贷评级（续） 2021 二零二一年 % of net assets 占净资产百分比 2020 二零二零年 % of net assets 占净资产百分比 Ba3 1.03% 0.68% B1 0.04% 0.57% B2 0.80% 0.90% B3 0.12% 0.13% (P)B+ 0.11% 0.10% B+ 1.66% 1.30% B 0.38% 1.05% B- – 0.18% Caa1 0.03% – N.A 2.93% 3.51% Total 合計 37.53% 40.53% Where credits are rated by one of the international ratings agencies, the Manager does not re-construct their own credit ratings but use the rating agency as a reference point for their analysis with the credit analysts focusing on assessing the directional trend of the credit. The Manager does not specifically comment on the external ratings unless the Manager disagrees materially with the external agency’s view. 信贷评级由一国际评级机构评定，基金管理 人不作任何自己的信用评级，但信用分析师 会用评级机构作为一个参考点于评估方向趋 势的信用分析。除非基金管理人非常不同意 外部机构的观点，否则基金管理人不对外部 评级作特别评论。 3. FINANCIAL RISK MANAGEMENT (Continued) (d) Credit and counterparty risk (Continued) 3. 财务风险管理（续） (d) 信贷和交易对手风险（续） 施罗德亚洲高息股债基金 66 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (d) Credit and counterparty risk (Continued) Where a credit is unrated, the Manager constructs a proxy/shadow rating. The Manager’s in-house credit research and rating methodology is particularly important for unrated credits to ensure that the credit risk taken is being adequately compensated for versus similar-rated issuers in and outside of Asia. The Manager does not have a defined rating policy in this regard – it depends on the analyst’s judgment. Importantly, the analysts must cover and monitor any credits that the Fund’s portfolios invest in whether they are rated or not. This means that all unrated debt securities must undergo the same rigorous bottom-up credit analysis process to determine a recommendation and credit opinion for the issuer and this forms the basis of the Manager’s evaluation of credits for investment. The Fund measures credit risk and expected credit losses using probability of default, exposure at default and loss given default. Management consider both historical analysis and forward looking information in determining any expected credit loss. As at 30th June 2021 and 2020, the amounts receivable on disposal of investments, amounts receivable on subscription of units, interest receivable on debt securities, interest receivable on bank deposits, other receivables, margin deposits, cash collateral and cash and bank deposits can be realised within one month. Management consider the probability of default to be close to zero as the counterparties have a strong capacity to meet their contractual obligations in the near term. As a result, no loss allowance has been recognised based on 12-month expected credit losses as any such impairment would be wholly insignificant to the Fund. 3. 财务风险管理（续） (d) 信贷和交易对手风险（续） 如信贷评级为未评级，基金管理人会自行建 立一个代理╱影子评级。基金管理人内部的 信用调查和评价方法的未评级的信用是特别 重要的，以确保信贷风险得到充分的补偿与 类似评级的发行人及亚洲以外的地区。在这 方面，基金管理人不会有一个既定的评价政 策－会依赖于分析师的判断。 更重要的是，分析师必须覆盖和监控本基金 的投资组合投资是否他们的评分。这意思 是，所有的未评级债务证券，必须经过同样 严格的自下而上的信用分析过程中确定的建 议和发行人的资信观点，这构成了基金管理 人的评估的投资基础。 本基金利用违约概率、违约风险承担和违约 时的损失，度量信贷风险和预期信贷亏损。 管理层会同时考虑历史分析和前瞻性数据以 制定任何预期信贷亏损。截至二零二一年及 二零二零年六月三十日，应收出售投资款 项、应收认购份额款项、应收债务证券利 息、应收存款利息、其他应收款项、保证 金、现金及银行存款可于一个月内变现。管 理层认为，由于交易对手均有强劲实力可于 短期内应付合约责任，因此违约概率接近 零。有鉴于此，并无就十二个月的预期信贷 亏损确认损失准备，因为任何此等减值对本 基金整体而言并不重大。 67 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (e) Currency risk Currency risk is the risk that the value of financial instruments will fluctuate due to changes in foreign exchange rates. The Fund has assets and liabilities denominated in currencies other than Hong Kong dollar, the Fund’s functional and presentation currency. The Fund is therefore exposed to currency risk, as the value of the assets and liabilities denominated in other currencies will fluctuate due to changes in exchange rates. The Manager will enter into foreign exchange forward contracts from time to time to hedge against the currency exposures as disclosed in note 5. The table below summarises the Fund’s monetary and non-monetary exposures to different major currencies other than United States dollar which is pegged with Hong Kong dollar as at 30th June 2021 and 2020: 2021 二零二一年 2020 二零二零年 Monetary 货币 Non-monetary 非货币 Monetary 货币 Non-monetary 非货币 HK$ equivalents 港元等值 HK$ equivalents 港元等值 HK$ equivalents 港元等值 HK$ equivalents 港元等值 Australian dollar 澳元 539,660,994 3,089,260,643 1,441,093,574 3,480,242,205 British pound 英镑 207,986,019 – 77,530,536 – Euro 欧元 1,523,760 – – – Indian rupee 印度卢比 (4,936,772) 1,496,121,236 28,295,930 1,187,025,430 Indonesian rupiah 印尼盾 301 – 23,537,088 275,446,783 Japanese yen 日圆 1,336,416 174,195,667 1,531,864 154,988,816 Korean won 韩元 (1,112,608,741) 1,692,640,017 2,029,399 399,706,155 New Zealand dollar 新西兰元 23,413 228,883,704 21,522 277,605,352 Renminbi 人民币 5,457,286,928 465,933,681 4,624,075,294 – Singapore dollar 新加坡元 (1,091,500,162) 1,923,240,417 10,700,888 3,527,372,151 Taiwan dollar 新台币 (1,755,018,565) 1,836,549,734 (1,707,457,930) 364,806,112 Thai baht 泰銖 1 254,638,936 – 613,431,886 3. 财务风险管理（续） (e) 汇兑风险 汇兑风险指金融工具的价值因外币汇率变动 而波动不定的风险。 本基金持有并非以港元（基金的功能及申报 货币）计价的资产及负债。由于外币计价资 产及负债的价值会因汇率变动而波动不定， 本基金因而须承担汇兑风险。基金管理人将 不时订立远期外汇合约，以对冲汇兑风险承 担并呈现于注釋5。 下表概述于二零二一年及二零二零年六月 三十日本基金的货币及非货币风险承担，而 除美元外，因其已与港元挂钩： 施罗德亚洲高息股债基金 68 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (e) Currency risk (Continued) The table below summarises the impact on net assets attributable to unitholders as a result of increases/decreases of key exchange rates on the exposures tabled above, to which the Fund is exposed. The analysis is based on the assumption that the exchange rates had increased/ decreased by the respective percentage with all other variables held constant. Impact on net assets attributable to unitholders 分配给份额持有人净资产的影响 2021 二零二一年 2020 二零二零年 Estimated reasonable possible change % 估计合理变动% Monetary 货币 Non-monetary 非货币 Estimated reasonable possible change % 估计合理变动% Monetary 货币 Non-monetary 非货币 HK$ equivalents 港元等值 HK$ equivalents 港元等值 HK$ equivalents 港元等值 HK$ equivalents 港元等值 +/- +/- +/- +/- +/- +/- Australian dollar 澳元 10 53,966,099 308,926,064 2 28,821,871 69,604,844 British pound 英镑 6 12,479,161 – 1 775,305 – Euro 欧元 7 106,663 – – – – Indian rupee 印度卢比 6 296,206 89,767,274 2 565,919 23,740,509 Indonesian rupiah 印尼盾 4 12 – 2 470,742 5,508,936 Japanese yen 日圆 6 80,185 10,451,740 2 30,637 3,099,776 Korean won 韩元 4 44,504,350 67,705,601 2 40,588 7,994,123 New Zealand dollar 新西兰元 9 2,107 20,599,533 2 430 5,552,107 Renminbi 人民币 4 218,291,477 18,637,347 2 92,481,506 – Singapore dollar 新加坡元 4 43,660,006 76,929,617 2 214,018 70,547,443 Taiwan dollar 新台币 6 105,301,114 110,192,984 2 34,149,159 7,296,122 Thai baht 泰銖 4 – 10,185,557 2 – 12,268,638 The Manager has used their view of what would be a “reasonable possible shift” in exchange rates to estimate the change for use in currency risk sensitivity analysis above. 3. 财务风险管理（续） (e) 汇兑风险（续） 下表概述倘若本基金相关投资所涉及主要外 币汇率上升╱下跌对本基金分配给份额持有 人净资产构成的影响。分析乃假设各外币汇 率按相应百分率上升╱下跌，而其他变数保 持稳定。 基金管理人乃根据其对汇率的「合理变动」看 法来估计上述汇兑风险敏感度分析所采用的 变动。 69 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (e) Currency risk (Continued) Disclosures above are shown in absolute terms, changes and impacts could be positive or negative. Changes in exchange rate % are revised annually depending on the Manager’s current view of exchange rates volatility and other relevant factors. (f) Liquidity risk Liquidity risk is the risk that an entity will encounter difficulty in settling its liabilities, including a redemption request. The Fund is exposed to daily cash redemptions of redeemable units. The Fund invests the majority of its assets in investments that are traded in an active market and are considered to be readily realisable. The Fund also invests in derivative financial instruments and debt securities that are traded over the counter. As a result, the Fund may not be able to liquidate quickly its investments in these instruments at an amount close to their fair value to meet its liquidity requirements due to adverse market conditions leading to limited liquidity. It is the intent of the Manager to monitor the Fund’s liquidity position on a daily basis. The Manager is entitled to limit the number of units to be redeemed on any one dealing day to 10% of the units in issue (with redemption requests reduced pro rata) and any excess redemption requests are then carried forward to the next dealing day. The Manager or the Trustee may at any time suspend the right of unitholders to redeem units and will at the same time cease to issue units in certain circumstances as mentioned in the Explanatory Memorandum. 3. 财务风险管理（续） (e) 汇兑风险（续） 上述披露乃以绝对值列示，变动及影响可属 正数或负数。汇率%的变动根据基金管理人 现行对汇率波动和其他相关因素的观点每年 调整。 (f) 流通性风险 流通性风险指企业难以偿还负债（包括赎回 指示）的风险。 本基金每日均接受投资者赎回份额以套取现 金。本基金的资产大部分投资均在活跃的市 场作买卖，因此相信可随时变现。 本基金亦投资于衍生金融工具及债务证券均 在场外交易，因此，本基金未必能以接近其 公允值迅速变现其投资资产，以满足其流动 资金需求；于不利的市场条件下，亦可能导 致有限的流动资金。基金管理人每日均监察 本基金的流动资金状况。 基金管理人有权限制任何一个交易日赎回份 额的数量，相等于本基金已发行份额总数之 百分之十。在这情况下，限制将按比例实 施，所有拟于该交易日赎回份额之持有人可 按比例赎回份额，而未能赎回的份额将拨作 下一交易日根据相同的限制赎回。基金管理 人或受托人可根据基金说明书内所呈列的情 况下限制赎回份额和发行份额。 施罗德亚洲高息股债基金 70 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (f) Liquidity risk (Continued) The table below analyses the Fund’s financial liabilities into relevant maturity groupings based on the remaining period at the year end date to the contractual maturity date. The amounts in the table are the contractual undiscounted cash flows. Balances due within 12 months equal their carrying balances, as the impact of discounting is not significant. The maturity analysis of derivative financial liabilities is presented in note 5. At 30th June 2021 截至二零二一年六月三十日 Up to 1 month 少于一个月 1-3 months 一个月至三个月 Over 3 months 三个月以上 HK$ 港元 HK$ 港元 HK$ 港元 Derivative financial instruments 衍生金融工具 174,701,333 17,635,575 4,212,559 Amounts payable on purchase of investments 应付认购投资款项 85,860,183 – – Amounts payable on redemption of units 应付赎回份额款项 98,888,742 – – Distributions payable 应付股利 123,130,516 – – Cash collateral liabilities 现金抵押品负债 3,339,316 – – Other payables 其他应付款项 39,055,037 – 203,040 Net assets attributable to unitholders 分配给份额持有人净资产 31,351,182,396 – – Total financial liabilities 总金融负债值 31,876,157,523 17,635,575 4,415,599 3. 财务风险管理（续） (f) 流通性风险（续） 下表分析本基金的金融负债，按年结日当日 距离约定到期日的尚余期间分为有关期限组 别。下表所载款额乃约定未折现现金流。由 于折现影响不大，于十二个月内到期的余额 因而相等于结转余额。衍生金融工具合约的 到期日分析已于注釋5呈列。 71 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (f) Liquidity risk (Continued) At 30th June 2020 截至二零二零年六月三十日 Up to 1 month 少于一个月 1-3 months 一个月至三个月 Over 3 months 三个月以上 HK$ 港元 HK$ 港元 HK$ 港元 Derivative financial instruments 衍生金融工具 1,980,002 44,163,135 – Amounts payable on purchase of investments 应付认购投资款项 192,313,626 – – Amounts payable on redemption of units 应付赎回份额款项 122,887,353 – – Distributions payable 应付股利 105,111,413 – – Cash collateral liabilities 现金抵押品负债 6,122,855 – – Other payables 其他应付款项 36,496,384 – 197,263 Net assets attributable to unitholders 分配给份额持有人净资产 29,377,442,901 – – Total financial liabilities 总金融负债值 29,842,354,534 44,163,135 197,263 Units are redeemed on demand at the unitholders’ option. However, the Trustee and the Manager do not envisage that the contractual maturity disclosed in the table above will be representative of the actual cash outflows, as the unitholders typically retain their units for the medium to long term. As at 30th June 2021, 2 (2020: 2) unitholders held more than 10% of the Fund’s units. 3. 财务风险管理（续） (f) 流通性风险（续） 基金份额赎回乃根据份额持有人的选择。然 而，受托人和基金管理人不预期以上合约到 期所披露为实际现金流出，因为份额持有人 一般持有基金份额作中长线投资。截至二零 二一年六月三十日，两位（二零二零年：两 位）份额持有人持有多于百分之十的基金份 额。 施罗德亚洲高息股债基金 72 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (f) Liquidity risk (Continued) The following table illustrates the expected liquidity of assets held: At 30th June 2021 截至二零二一年六月三十日 Up to 1 month 少于一个月 1-3 months 一個月至 三个月 Over 3 months 三个月以上 HK$ 港元 HK$ 港元 HK$ 港元 Total financial assets 总金融资产值 31,906,377,038 11,689,524 – At 30th June 2020 截至二零二零年六月三十日 Up to 1 month 少于一个月 1-3 months 一个月至 三个月 Over 3 months 三个月以上 HK$ 港元 HK$ 港元 HK$ 港元 Total financial assets 总金融资产值 29,875,412,087 11,302,845 – (g) Offsetting and amounts subject to master netting arrangements and similar agreements As at 30th June 2021 and 2020, the Fund was subject to master netting arrangements for the derivative assets and liabilities of the Fund held with these counterparties. The margin balance maintained by the Fund is for the purpose of providing collateral on derivative positions. 3. 财务风险管理（续） (f) 流通性风险（续） 下表列示以预期之变现期列示本基金所持有 的流动资产： (g) 受抵销和总净额清算协议及类似条款 截至二零二一年及二零二零年六月三十日， 基金的衍生工具资产及负债受与总净额清算 安排所约束。本基金设立的保证金余额是用 以作为衍生工具持仓的抵押品。 73 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (g) Offsetting and amounts subject to master netting arrangements and similar agreements (Continued) The following table presents the Fund’s financial assets and liabilities subject to offsetting, enforceable master netting arrangements and similar agreements. The table is presented by type of financial instrument. Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements: At 30th June 2021 截至二零二一年六月三十日 ?????A Gross amounts of recognised financial assets 认可金融资产之总额 ????B Gross amounts of recognised financial liabilities set-off in the statement of financial position 于财务状况报表中受抵销 的认可金融负债之总额 ???C = A – B Net amounts of financial assets presented in the statement of financial position 于财务状况报表中受抵销 的认可金融资产之净额 D Related amounts not set-off in the statement of financial position 于财务状况报表中并未抵消的相关金额 ??????E = C – D Net amount 净额 ???D (i) Financial instruments 金融工具 ?????D(ii) Cash collateral 抵押金 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 Derivative financial instruments 衍生金融工具 Futures 期货 8,409,262 – 8,409,262 8,409,262 – – Foreign exchange forward contracts 远期外汇合约 89,300,284 – 89,300,284 1,131,371 – 88,168,913 Margin deposits 保证金 386,816,139 50,640,312 336,175,827 – – 336,175,827 Cash collateral 现金抵押品 3,416,974 – 3,416,974 3,027,570 – 389,404 487,942,659 50,640,312 437,302,347 12,568,203 – 424,734,144 At 30th June 2020 截至二零二零年六月三十日 Derivative financial instruments 衍生金融工具 Foreign exchange forward contracts 远期外汇合约 49,550,995 – 49,550,995 1,980,002 – 47,570,993 Credit default swap 信贷违约掉期 6,154,434 – 6,154,434 – 5,259,111 895,323 Margin deposits 保证金 219,122,561 104,452,849 114,669,712 – – 114,669,712 Cash collateral 现金抵押品 8,990,522 – 8,990,522 – – 8,990,522 283,818,512 104,452,849 179,365,663 1,980,002 5,259,111 172,126,550 3. 财务风险管理（续） (g) 受抵销和总净额清算协议及类似条款（续） 下表列出了基金受抵销和强制执行的总净额 清算协议和类似协议约束的金融资产和负 债。下表乃按金融工具的种类而呈列。 受抵销和强制执行的总净额清算协议和类似 协议约束的金融资产： 施罗德亚洲高息股债基金 74 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (g) Offsetting and amounts subject to master netting arrangements and similar agreements (Continued) The following table presents the Fund’s financial assets and liabilities subject to offsetting, enforceable master netting arrangements and similar agreements. The table is presented by type of financial instrument. Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements: At 30th June 2021 截至二零二一年六月三十日 ?????A Gross amounts of recognised financial assets 认可金融资产之总额 ????B Gross amounts of recognised financial liabilities set-off in the statement of financial position 于财务状况报表中受抵销 的认可金融负债之总额 ???C = A – B Net amounts of financial assets presented in the statement of financial position 于财务状况报表中受抵销 的认可金融资产之净额 D Related amounts not set-off in the statement of financial position 于财务状况报表中并未抵消的相关金额 ??????E = C – D Net amount 净额 ???D (i) Financial instruments 金融工具 ?????D(ii) Cash collateral 抵押金 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 Derivative financial instruments 衍生金融工具 Futures 期货 8,409,262 – 8,409,262 8,409,262 – – Foreign exchange forward contracts 远期外汇合约 89,300,284 – 89,300,284 1,131,371 – 88,168,913 Margin deposits 保证金 386,816,139 50,640,312 336,175,827 – – 336,175,827 Cash collateral 现金抵押品 3,416,974 – 3,416,974 3,027,570 – 389,404 487,942,659 50,640,312 437,302,347 12,568,203 – 424,734,144 At 30th June 2020 截至二零二零年六月三十日 Derivative financial instruments 衍生金融工具 Foreign exchange forward contracts 远期外汇合约 49,550,995 – 49,550,995 1,980,002 – 47,570,993 Credit default swap 信贷违约掉期 6,154,434 – 6,154,434 – 5,259,111 895,323 Margin deposits 保证金 219,122,561 104,452,849 114,669,712 – – 114,669,712 Cash collateral 现金抵押品 8,990,522 – 8,990,522 – – 8,990,522 283,818,512 104,452,849 179,365,663 1,980,002 5,259,111 172,126,550 75 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (g) Offsetting and amounts subject to master netting arrangements and similar agreements (Continued) Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements: At 30th June 2021 截至二零二一年六月三十日 ?????A Gross amounts of recognised financial liabilities 认可金融负债之总额 ????B Gross amounts of recognised financial assets set-off in the statement of financial position 于财务状况报表中受抵销 的认可金融资产之总额 ???C = A – B Net amounts of financial liabilities presented in the statement of financial position 于财务状况报表中受抵销 的认可金融负债之净额 D Related amounts not set-off in the statement of financial position 于财务状况报表中并未抵消的相关金额 ??????E = C – D Net amount 净额 ???D (i) Financial instruments 金融工具 ?????D(ii) Cash collateral 抵押金 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 Derivative financial instruments 衍生金融工具 Futures 期货 18,155,291 – 18,155,291 8,409,262 – 9,746,029 Foreign exchange forward contracts 远期外汇合约 174,181,617 – 174,181,617 1,131,371 – 173,050,246 Credit default swap 信贷违约掉期 4,212,559 – 4,212,559 – 3,027,570 1,184,989 Cash collateral liabilities 现金抵押品负债 3,339,316 – 3,339,316 – – 3,339,316 199,888,783 – 199,888,783 9,540,633 3,027,570 187,320,580 At 30th June 2020 截至二零二零年六月三十日 Derivative financial instruments 衍生金融工具 Futures 期货 27,006,617 – 27,006,617 – – 27,006,617 Foreign exchange forward contracts 远期外汇合约 19,136,520 – 19,136,520 1,980,002 – 17,156,518 Cash collateral liabilities 现金抵押品负债 6,122,855 – 6,122,855 5,259,111 – 863,744 52,265,992 – 52,265,992 7,239,113 – 45,026,879 3. 财务风险管理（续） (g) 受抵销和总净额清算协议及类似条款（续） 受抵销和强制执行的总净额清算协议和类似 协议约束的金融负债： 施罗德亚洲高息股债基金 76 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (g) Offsetting and amounts subject to master netting arrangements and similar agreements (Continued) Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements: At 30th June 2021 截至二零二一年六月三十日 ?????A Gross amounts of recognised financial liabilities 认可金融负债之总额 ????B Gross amounts of recognised financial assets set-off in the statement of financial position 于财务状况报表中受抵销 的认可金融资产之总额 ???C = A – B Net amounts of financial liabilities presented in the statement of financial position 于财务状况报表中受抵销 的认可金融负债之净额 D Related amounts not set-off in the statement of financial position 于财务状况报表中并未抵消的相关金额 ??????E = C – D Net amount 净额 ???D (i) Financial instruments 金融工具 ?????D(ii) Cash collateral 抵押金 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 HK$ 港元 Derivative financial instruments 衍生金融工具 Futures 期货 18,155,291 – 18,155,291 8,409,262 – 9,746,029 Foreign exchange forward contracts 远期外汇合约 174,181,617 – 174,181,617 1,131,371 – 173,050,246 Credit default swap 信贷违约掉期 4,212,559 – 4,212,559 – 3,027,570 1,184,989 Cash collateral liabilities 现金抵押品负债 3,339,316 – 3,339,316 – – 3,339,316 199,888,783 – 199,888,783 9,540,633 3,027,570 187,320,580 At 30th June 2020 截至二零二零年六月三十日 Derivative financial instruments 衍生金融工具 Futures 期货 27,006,617 – 27,006,617 – – 27,006,617 Foreign exchange forward contracts 远期外汇合约 19,136,520 – 19,136,520 1,980,002 – 17,156,518 Cash collateral liabilities 现金抵押品负债 6,122,855 – 6,122,855 5,259,111 – 863,744 52,265,992 – 52,265,992 7,239,113 – 45,026,879 77 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (g) Offsetting and amounts subject to master netting arrangements and similar agreements (Continued) Amounts in D(i) and D(ii) above relate to amounts subject to set-off that do not qualify for offsetting under (B) above. This includes (i) amounts which are subject to set-off against the asset (or liability) disclosed in (A) which have not been offset in the statement of financial position and (ii) any financial collateral (including cash collateral), both received and pledged. The Fund and its counterparty have elected to settle all transactions on a gross basis however, each party has the option to settle all open contracts on a net basis in the event of default of the other party. Per the terms of the master netting agreement, an event of default includes the following: – failure by a party to make payment when due; – bankruptcy. (h) Fair value estimation The fair value of financial assets and liabilities traded in active markets (such as trading securities) are based on quoted market prices at the close of trading on the year end date. The Fund utilises the last traded market price as its fair valuation inputs for both financial assets and financial liabilities. 3. 财务风险管理（续） (g) 受抵销和总净额清算协议及类似条款（续） 于上表D(i)和D(ii)之金额，并不符合(B)之要 求。包括：(i)于财务状况报表中所披露的资 产（或负债）(A)并未抵消的金额和；(ii)任何 已收取或被抵押的金融抵押品（包括现金抵 押）。 基金及其交易对手方已选择按总额基准清算 所有交易，然而一旦其中一方违约，另一方 即有权按净额基准结清所有未平仓合约。根 据总净额清算协议的条款，违约事件包括： － 合约一方未能于到期时付款； － 破产。 (h) 公允值估计 本基金使用在活跃市场交易（如证券交易）之 财务资产及负债的公允值，并以年结日可观 察输入值之清算价作估值。本基金以公允值 作最新的市场价计算财务资产和财务负债。 施罗德亚洲高息股债基金 78 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (h) Fair value estimation (Continued) An active market is a market in which transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm’s length basis. The carrying value less impairment provision of other receivables and payables are assumed to approximate their fair values. The fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Fund for similar financial instruments. HKFRS 13 requires the Fund to classify fair value measurements using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels: – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date (Level 1). 3. 财务风险管理（续） (h) 公允值估计（续） 活跃市场即该市场有足够的成交量及次数从 而提供持续的价格信息。 金融工具之报价可即时且定期由交易所、交 易商、经纪人、行业组织、定价服务及监管 机构发布，且报价反映实际及经常出现按公 平原则进行之市场交易，则被视为活跃市场 报价之金融工具。 其他应收帐款及应付帐款之帐面值减值拨备 与其公允值相若。就披露资料而言，财务负 债的公允值按本基金就类似金融工具所得现 行市场利率折算日后的合约现金流量估计。 香港财务报告准则第13号「公允值度量」要 求本基金根据公允值级次进行分类从而反映 公允值在度量时所使用的输入值的重要性。 公允值级次分层如下： － 第一层次－相同资产或负债在活跃市场 中的报价（未经调整）。 79 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (h) Fair value estimation (Continued) – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly (Level 2). – Inputs for the asset or liability that are unobservable inputs (Level 3). The level in the fair value hierarchy within which the fair value measurement is categorised in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. For this purpose, the significance of an input is assessed against the fair value measurement in its entirety. If a fair value measurement uses observable inputs that require significant adjustment based on unobservable inputs, that measurement is a level 3 measurement. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgment, considering factors specific to the asset or liability. The determination of what constitutes ‘observable’ requires significant judgment by the Fund. The Fund considers observable data to be that market data that is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market. 3. 财务风险管理（续） (h) 公允值估计（续） － 第二层次－直接或间接地使用除第一层 次中的资产或负债的市场报价以外的其 他可观察输入值。 － 第三层次－资产或负债使用了非基于可 观察市场数据的输入值。 金融工具在按照公允值度量时具有重大意义 的最低层次输入值为基础，确定应将其整体 划分为哪一个类别。如在公允值度量中使用 了可观察输入值但需要根据不可观察输入值 进行调整，则该度量应归入第三层次。在评 价特定输入值对于公允值度量整体的重大意 义，需要考虑与金融资产或负债具有特定关 系的因素进行判断。 本基金需就可观察输入值的重大意义进行判 断。本基金所考虑的可观察数据为市场数 据，定期发布及更新，可信的及可核实的， 非私有的，并且由活跃于相关市场的独立来 源提供数据。 施罗德亚洲高息股债基金 80 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (h) Fair value estimation (Continued) The following table analyses within the fair value hierarchy the Fund’s investments (by class) measured at fair value at 30th June 2021 and 2020: At 30th June 2021 截至二零二一年六月三十日 Level 1 第一层次 HK$ 港元 Level 2 第二层次 HK$ 港元 Level 3 第三层次 HK$ 港元 Total 总值 HK$ 港元 Assets 资产 Held for trading 持有作交易用 Equities 股票 14,793,012,099 – – 14,793,012,099 Investment funds 投资基金 3,356,280,508 – – 3,356,280,508 Debt securities 债务证券 11,454,318,080 311,841,547 – 11,766,159,627 Futures 期货 – 8,409,262 – 8,409,262 Foreign exchange forward contracts 远期外汇合约 – 89,300,284 – 89,300,284 Total 总值 29,603,610,687 409,551,093 – 30,013,161,780 Liabilities 负债 Credit default swap 信贷违约掉期 – (4,212,559) – (4,212,559) Futures 期货 – (18,155,291) – (18,155,291) Foreign exchange forward contracts 远期外汇合约 – (174,181,617) – (174,181,617) Total 总值 – (196,549,467) – (196,549,467) 3. 财务风险管理（续） (h) 公允值估计（续） 下表列示本基金截至二零二一年及二零二零 年六月三十日的投资按公允值级次度量之公 允值： 81 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (h) Fair value estimation (Continued) At 30th June 2020 截至二零二零年六月三十日 Level 1 第一层次 HK$ 港元 Level 2 第二层次 HK$ 港元 Level 3 第三层次 HK$ 港元 Total 总值 HK$ 港元 Assets 资产 Held for trading 持有作交易用 Equities 股票 13,683,538,164 – – 13,683,538,164 Investment funds 投资基金 2,558,835,462 – – 2,558,835,462 Debt securities 债务证券 11,575,177,119 330,537,074 – 11,905,714,193 Credit default swap 信贷违约掉期 – 6,154,434 – 6,154,434 Foreign exchange forward contracts 远期外汇合约 – 49,550,995 – 49,550,995 Total 总值 27,817,550,745 386,242,503 – 28,203,793,248 Liabilities 负债 Futures 期货 – (27,006,617) – (27,006,617) Foreign exchange forward contracts 远期外汇合约 – (19,136,520) – (19,136,520) Total 总值 – (46,143,137) – (46,143,137) 3. 财务风险管理（续） (h) 公允值估计（续） 施罗德亚洲高息股债基金 82 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (h) Fair value estimation (Continued) Investments whose values are based on quoted market prices in active markets, and therefore classified within level 1, include active listed and quoted equity securities, debt securities and investment funds. The Fund does not adjust the quoted price for these instruments. Financial instruments that trade in markets that are not considered to be active but are valued based on quoted market prices, dealer quotations or alternative pricing sources supported by observable inputs are classified within level 2. Investments classified within level 3 have significant unobservable inputs, as they trade infrequently. As of 30th June 2021 and 2020, the Fund did not hold any investments classified in level 3. For the year ended 30th June 2021, there were no transfers between levels of investments held by the Fund (2020: Nil). The financial assets and liabilities included in the statement of financial position, other than investments and derivative financial instruments, are carried at amortised cost; their carrying values are a reasonable approximation of fair value. There are no other assets or liabilities not at fair value but for which the fair value is disclosed. 3. 财务风险管理（续） (h) 公允值估计（续） 由于投资价值是基于活跃市场的报价，因此 属第一层次，并包括活跃上市股票证券，债 务证券及投资基金。本基金没有调整这些工 具的报价。 于非活跃市场交易的金融投资但以市场报 价、经纪报价或其他报价来源作为可观察输 入值，此等投资即分类为第二层次。 投资被分类为第三层次，其有显著的不可观 察输入值，因为其交易次数疏落。截至二零 二一年及二零二零年六月三十日，本基金并 无持有任何第三层次的投资。 截至二零二一年六月三十日止年度，本基金 所持有的投资的各个层级之间并无转拨（二 零二零年：无）。 在财务状况报表内的金融资产和负债（投资 和衍生金融工具除外），均按摊销成本入 账，其账面值为公允值的合理约数。没有其 他资产或负债并非按公允值入账但以公允值 披露。 83 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (i) Capital risk management The capital of the Fund is represented by the net assets attributable to unitholders. The amount of net assets attributable to unitholders can change significantly on a daily basis as the Fund is subject to daily subscriptions and redemptions at the discretion of unitholders. The Fund’s objective when managing capital is to safeguard the Fund’s ability to continue as a going concern in order to provide returns for unitholders and benefits for other stakeholders and to maintain a strong capital base to support the development of the investment activities of the Fund. In order to maintain or adjust the capital structure, the Fund’s policy is to perform the following: – monitor the level of daily subscriptions and redemptions relative to the liquid assets; and – redeem and issue units in accordance with the trust deed of the Fund, which includes the requirement of minimum redemption amount of HK$5,000 for HKD denominated accumulation and distribution units of Class A, Class M, Class C and Class X, RMB5,000 for RMB denominated accumulation and distribution units of Class A, Class M, Class C and Class X and US$1,000 (or equivalent value in other currencies) for accumulation and distribution units of Class A, Class M, Class C and Class X denominated in a currency other than HKD or RMB. 3. 财务风险管理（续） (i) 资本风险管理 本基金的资本是以分配给份额持有人净资产 呈示。每日之分配给份额持有人净资产可能 有显著改变，因本基金每日之认购和赎回乃 由份额持有人决定。本基金会以保障基金资 本能有一个持续经营的能力为目标，以便为 份额持有人提供回报和保持一个强大的资本 基础，以支持基金中的投资活动。 为了维持或调整资本结构，本基金的政策执 行如下： － 监测每日认购和赎回之水平相对流动性 资产；及 － 赎回及发行份额乃按照本基金的信托契 约，其中包括要求赎回基金的最低金额 为5,000港元（以港元为货币份额累积及 收息之A类别、M类别和C类别和X类 别基金份额），及5,000人民币（以人民 币为货币份额累积及收息之A类别、M 类别和C类别和X类别基金份额）或1,000 美元或其他货币之等值金额（以港元或 人民币以外货币为货币份额之A类别、 M类别和C类别和X类别累积及收息份 额）。 施罗德亚洲高息股债基金 84 Notes to the Financial Statements 财务报表之注釋 3. FINANCIAL RISK MANAGEMENT (Continued) (i) Capital risk management (Continued) The Manager monitors capital on the basis of the value of net assets attributable to unitholders. (j) Financial instruments by category Financial assets Apart from investments and derivative financial instruments as disclosed in the statement of financial position, all other financial assets as disclosed in the statement of financial position, including amounts receivable on disposal of investments, amounts receivable on subscription of units, dividends receivable, interest receivable on debt securities, interest receivable on bank deposits, other receivables, margin deposits, cash collateral and cash and bank deposits are categorised as “financial assets at amortised cost”. Financial liabilities Apart from derivative financial instruments as disclosed in the statement of financial position, all other financial liabilities as disclosed in the statement of financial position, including amounts payable on purchase of investments, amounts payable on redemption of units, distributions payable, cash collateral liabilities and other payables are categorised as “other financial liabilities at amortised cost”. 3. 财务风险管理（续） (i) 资本风险管理（续） 基金管理人会监督分配给份额持有人净资产 资金的基金资本。 (j) 按类别划分的金融工具 金融资产 除了在财务状况报表中披露的投资及衍生金 融工具之外，所有在财务状况报表中披露的 其他金融工具，包括应收出售投资款项、应 收认购份额款项、应收股利、应收债务证券 利息、应收存款利息、其他应收款项、保证 金，现金抵押品，以及现金及银行存款均分 类为「金融资产须按摊销成本」。 金融负债 除了在财务状况报表中披露的衍生金融工具 外，所有在财务状况报表中披露的其他金融 负债，包括应付认购投资款项、应付赎回份 额款项、应付股利、现金抵押品负债以及其 他应付款项均分类为「其他金融负债须按摊 销成本」。 85 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 4. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS Management makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. Estimates are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are outlined below. Fair value of unlisted investments As at 30th June 2021 and 2020, the Fund held a number of debt securities and derivatives that were valued by reference to broker quotes. In determining the fair value of such investments, the Trustee and the Manager exercise judgments and estimates on the sources of brokers and the quantity and quality of broker quotes used. Such broker quotes adopted to fair value the investments may be indicative and not executable or legally binding. As such, broker quotes do not necessarily indicate the price at which the security could actually be traded as of 30th June 2021 and 2020. Actual transacted prices may differ from the broker quotes provided by the brokers. The Trustee and the Manager consider that in the absence of any other reliable market sources, the broker quotes available to them reflect the best estimate of fair value. 4. 引用会计政策的重要会计估计与判断 基金管理层对未来作出估计及假设。按定义 而言，会计估计绝少与实际结果完全一致。 会计估计会不断基于对历史经验和其他因素 进行评估，包括对未来事件作出合理的预 期。公允值乃根据市况及有关金融工具的资 讯而作出估计。下文讨论于下个财政年度有 相当大风险将会导致资产与负债的帐面值须 作出重大调整的估计和假设。 非上市的投资的公允值 于二零二一年及二零二零年六月三十日，本 基金持有多项债务证券及衍生工具，其价值 乃参考经纪报价而制订。制订该等投资的公 允值时，受托人和基金管理人会作出判断， 并对经纪的资料来源和采用的报价数量与质 量作出估计。用于投资公允值的该等报价可 作参考之用，但不可执行，亦不受法律约 束。故此，经纪报价不一定能反映证券于二 零二一及二零二零年六月三十日的实际买卖 价。实际交易价格可能有别于经纪提供的报 价。受托人和基金管理人认为，由于缺乏任 何其他可信赖的市场资料来源，受托人和基 金管理人所得的经纪报价已反映最佳的公允 值估计。 施罗德亚洲高息股债基金 86 Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS The Fund holds the following derivative financial instruments: (a) Futures Futures are contractual obligations to buy or sell financial instruments on a future date at a specified price established in an organised market. The futures contracts are collateralised by cash or marketable securities; changes in the futures contracts’ value are settled daily with the exchange. Futures are settled on a net basis. At 30th June 2021 and 2020, the Fund held futures as shown below: At 30th June 2021 截至二零二一年六月三十日 Underlying assets 相关资产 Contract size 合约数量 Notional value 名义值 HK$ 港元 Position 持仓 Counterparty 托管人 Fair value 公允值 HK$ 港元 Financial assets 金融资产： FTSE TAIWAN INDEX 29/07/2021 FTSE Taiwan Index 1,000 473,794,509 Long 长仓 UBS AG, Singapore Branch 8,115,314 US 2YR NOTE (CBT) 30/09/2021 2-Year US Treasury Note 6% 285 487,627,731 Long 长仓 UBS AG, Singapore Branch 293,948 8,409,262 Financial liabilities 金融负债： HANG SENG IDX FUT 29/07/2021 Hang Seng Index 330 472,395,000 Long 长仓 UBS AG, Singapore Branch (519,716) US 2YR NOTE (CBT) 30/09/2021 2-Year US Treasury Note 6% 185 316,530,282 Long 长仓 UBS AG, Singapore Branch (504,781) US 10YR NOTE (CBT) 21/09/2021 10-Year US Treasury Note 6% (937) (964,149,692) Short 短仓 UBS AG, Singapore Branch (6,310,174) US 10YR NOTE (CBT) 21/09/2021 10-Year US Treasury Note 6% (136) (139,940,617) Short 短仓 UBS AG, Singapore Branch (495,073) US LONG BOND(CBT) 21/09/2021 20-Year US Treasury Note 6% (263) (328,318,782) Short 短仓 UBS AG, Singapore Branch (9,733,401) US LONG BOND(CBT) 21/09/2021 20-Year US Treasury Note 6% (20) (24,967,208) Short 短仓 UBS AG, Singapore Branch (592,146) (18,155,291) 5. 衍生金融工具 本基金持有以下的衍生金融工具： (a) 期货 期货是含合约义务的金融工具，需在有组织 的市场内的未来某一日以指定的价格买入或 卖出金融产品。期货合约需现金或有价证券 作为抵押，期货合约值之变动会每日与交易 所作清算。期货以净额基准清算。 于二零二一年及二零二零年六月三十日，本 基金持有于期货： 87 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (a) Futures (Continued) At 30th June 2020 截至二零二零年六月三十日 Underlying assets 相关资产 Contract size 合约数量 Notional value 名义值 HK$ 港元 Position 持仓 Counterparty 托管人 Fair value 公允值 HK$ 港元 Financial liabilities 金融负债： US 10YR NOTE (CBT) 21/09/2020 10-Year US Treasury Note 6% (1,130) (1,218,868,464) Short 短仓 UBS AG, Singapore Branch (17,833,188) US LONG BOND (CBT) 21/09/2020 20-Year US Treasury Note 6% (1) (1,383,940) Short 短仓 UBS AG, Singapore Branch (1,938) US LONG BOND (CBT) 21/09/2020 20-Year US Treasury Note 6% (54) (74,732,745) Short 短仓 UBS AG, Singapore Branch (368,875) US LONG BOND (CBT) 21/09/2020 20-Year US Treasury Note 6% (126) (174,376,406) Short 短仓 UBS AG, Singapore Branch (1,930,994) US LONG BOND (CBT) 21/09/2020 20-Year US Treasury Note 6% (179) (247,725,211) Short 短仓 UBS AG, Singapore Branch (6,871,622) (27,006,617) (b) Foreign exchange forward contracts Foreign exchange forward contracts are contractual obligations to buy or sell foreign currencies at a specified rate established in over-the-counter markets. 5. 衍生金融工具（续） (a) 期货（续） (b) 远期外汇合约 远期外汇合约是指在场外交易市场依指定价 格买卖外币的合同责任。 施罗德亚洲高息股债基金 88 Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) As at 30th June 2021 and 2020, the Fund held the outstanding foreign exchange forward contracts with The Hongkong and Shanghai Banking Corporation Limited, Hong Kong as shown below: At 30th June 2021 截至二零二一年六月三十日 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets 金融资产： Buy AUD and Sell USD 21st July 2021 AUD 澳元41,632 买澳元沽美元 二零二一年七月二十一日 US$ 美元31,159 771 Buy CNH and Sell USD 21st July 2021 CNH 人民币12,414 买人民币沽美元 二零二一年七月二十一日 US$ 美元5,986 5 Buy CNH and Sell USD 21st July 2021 CNH 人民币38,739 买人民币沽美元 二零二一年七月二十一日 US$ 美元5,986 8 Buy CNH and Sell USD 21st July 2021 CNH 人民币20,976 买人民币沽美元 二零二一年七月二十一日 US$ 美元3,235 56 Buy CNH and Sell USD 21st July 2021 CNH 人民币59,739 买人民币沽美元 二零二一年七月二十一日 US$ 美元9,209 185 Buy CNH and Sell USD 21st July 2021 CNH 人民币72,231 买人民币沽美元 二零二一年七月二十一日 US$ 美元11,136 218 Buy CNH and Sell USD 21st July 2021 CNH 人民币95,790 买人民币沽美元 二零二一年七月二十一日 US$ 美元14,749 436 5. 衍生金融工具（续） (b) 远期外汇合约（续） 截至二零二一年及二零二零年六月三十日， 本基金持有交易对手为The Hongkong and Shanghai Banking Corporation Limited, Hong Kong的远期外汇合约： 89 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets (Continued): 金融资产（续）： Buy CNH and Sell USD 21st July 2021 CNH 人民币4,856,718 买人民币沽美元 二零二一年七月二十一日 US$ 美元750,525 950 Buy CNH and Sell USD 21st July 2021 CNH 人民币3,862,810 买人民币沽美元 二零二一年七月二十一日 US$ 美元596,834 1,529 Buy CNH and Sell USD 21st July 2021 CNH 人民币2,581,404 买人民币沽美元 二零二一年七月二十一日 US$ 美元397,973 7,809 Buy CNH and Sell USD 21st July 2021 CNH 人民币3,610,963 买人民币沽美元 二零二一年七月二十一日 US$ 美元556,670 11,150 Buy CNH and Sell USD 21st July 2021 CNH 人民币7,075,594 买人民币沽美元 二零二一年七月二十一日 US$ 美元1,091,145 19,018 Buy CNH and Sell USD 21st July 2021 CNH 人民币6,775,928 买人民币沽美元 二零二一年七月二十一日 US$ 美元1,043,309 30,822 Buy USD and Sell AUD 21st July 2021 US$ 美元153,538 买美元沽澳元 二零二一年七月二十一日 AUD 澳元204,306 1,090 Buy USD and Sell AUD 21st July 2021 US$ 美元243,028 买美元沽澳元 二零二一年七月二十一日 AUD 澳元322,906 4,526 Buy USD and Sell AUD 21st July 2021 US$ 美元671,598 买美元沽澳元 二零二一年七月二十一日 AUD 澳元893,275 7,044 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2021 (Continued) 截至二零二一年六月三十日（续） 5. 衍生金融工具（续） (b) 远期外汇合约（续） 施罗德亚洲高息股债基金 90 Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2021 (Continued) 截至二零二一年六月三十日（续） Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets (Continued): 金融资产（续）： Buy USD and Sell AUD 21st July 2021 US$ 美元81,978 买美元沽澳元 二零二一年七月二十一日 AUD 澳元107,804 8,048 Buy USD and Sell AUD 21st July 2021 US$ 美元71,793 买美元沽澳元 二零二一年七月二十一日 AUD 澳元92,712 16,947 Buy USD and Sell AUD 21st July 2021 US$ 美元416,592 买美元沽澳元 二零二一年七月二十一日 AUD 澳元550,174 27,250 Buy USD and Sell AUD 21st July 2021 US$ 美元450,989 买美元沽澳元 二零二一年七月二十一日 AUD 澳元595,333 31,058 Buy USD and Sell AUD 21st July 2021 US$ 美元662,020 买美元沽澳元 二零二一年七月二十一日 AUD 澳元874,491 42,189 Buy USD and Sell AUD 21st July 2021 US$ 美元476,256 买美元沽澳元 二零二一年七月二十一日 AUD 澳元618,303 93,338 Buy USD and Sell AUD 21st July 2021 US$ 美元1,127,964 买美元沽澳元 二零二一年七月二十一日 AUD 澳元1,486,236 93,689 Buy USD and Sell AUD 21st July 2021 US$ 美元900,632 买美元沽澳元 二零二一年七月二十一日 AUD 澳元1,168,292 182,115 Buy USD and Sell AUD 21st July 2021 US$ 美元1,727,403 买美元沽澳元 二零二一年七月二十一日 AUD 澳元2,248,618 303,548 5. 衍生金融工具（续） (b) 远期外汇合约（续） 91 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2021 (Continued) 截至二零二一年六月三十日（续） Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets (Continued): 金融资产（续）： Buy USD and Sell CNH 21st July 2021 US$ 美元205,262 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,328,013 51 Buy USD and Sell CNH 21st July 2021 US$ 美元1,209,992 买美元沽人民币 二零二一年七月二十一日 CNH 人民币7,828,457 281 Buy USD and Sell CNH 21st July 2021 US$ 美元182,830 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,182,570 419 Buy USD and Sell CNH 21st July 2021 US$ 美元212,237 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,372,778 486 Buy USD and Sell CNH 21st July 2021 US$ 美元174,985 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,130,925 1,481 Buy USD and Sell CNH 21st July 2021 US$ 美元357,814 买美元沽人民币 二零二一年七月二十一日 CNH 人民币2,312,551 3,029 Buy USD and Sell CNH 21st July 2021 US$ 美元113,671 买美元沽人民币 二零二一年七月二十一日 CNH 人民币728,283 8,619 Buy USD and Sell CNH 21st July 2021 US$ 美元179,863 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,152,669 13,287 Buy USD and Sell CNH 21st July 2021 US$ 美元295,752 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,899,326 17,068 5. 衍生金融工具（续） (b) 远期外汇合约（续） 施罗德亚洲高息股债基金 92 Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets (Continued): 金融资产（续）： Buy USD and Sell CNH 21st July 2021 US$ 美元273,288 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,752,055 19,388 Buy USD and Sell CNH 21st July 2021 US$ 美元285,173 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,828,246 20,231 Buy USD and Sell CNH 21st July 2021 US$ 美元594,380 买美元沽人民币 二零二一年七月二十一日 CNH 人民币3,817,120 34,302 Buy USD and Sell CNH 21st July 2021 US$ 美元764,672 买美元沽人民币 二零二一年七月二十一日 CNH 人民币4,899,218 57,981 Buy USD and Sell CNH 21st July 2021 US$ 美元879,688 买美元沽人民币 二零二一年七月二十一日 CNH 人民币5,637,545 64,991 Buy USD and Sell GBP 21st July 2021 US$ 美元46,114 买美元沽英镑 二零二一年七月二十一日 GBP 英镑33,164 2,310 Buy USD and Sell GBP 21st July 2021 US$ 美元343,708 买美元沽英镑 二零二一年七月二十一日 GBP 英镑248,448 3,648 1,131,371 5. 衍生金融工具（续） (b) 远期外汇合约（续） 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2021 (Continued) 截至二零二一年六月三十日（续） 93 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities 金融负债： Buy AUD and Sell USD 21st July 2021 AUD 澳元506,449,915 买澳元沽美元 二零二一年七月二十一日 US$ 美元392,668,851 (96,413,907) Buy AUD and Sell USD 21st July 2021 AUD 澳元2,531,608 买澳元沽美元 二零二一年七月二十一日 US$ 美元1,962,847 (481,947) Buy AUD and Sell USD 21st July 2021 AUD 澳元2,073,373 买澳元沽美元 二零二一年七月二十一日 US$ 美元1,576,620 (154,434) Buy AUD and Sell USD 21st July 2021 AUD 澳元722,852 买澳元沽美元 二零二一年七月二十一日 US$ 美元555,300 (97,595) Buy AUD and Sell USD 21st July 2021 AUD 澳元513,728 买澳元沽美元 二零二一年七月二十一日 US$ 美元395,707 (77,574) Buy AUD and Sell USD 21st July 2021 AUD 澳元1,100,063 买澳元沽美元 二零二一年七月二十一日 US$ 美元832,961 (54,433) Buy AUD and Sell USD 21st July 2021 AUD 澳元262,116 买澳元沽美元 二零二一年七月二十一日 US$ 美元202,068 (40,887) Buy AUD and Sell USD 21st July 2021 AUD 澳元713,700 买澳元沽美元 二零二一年七月二十一日 US$ 美元540,660 (37,260) Buy AUD and Sell USD 21st July 2021 AUD 澳元474,713 买澳元沽美元 二零二一年七月二十一日 US$ 美元360,281 (29,942) 5. 衍生金融工具（续） (b) 远期外汇合约（续） 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2021 (Continued) 截至二零二一年六月三十日（续） 施罗德亚洲高息股债基金 94 Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities (Continued): 金融负债（续）： Buy AUD and Sell USD 21st July 2021 AUD 澳元57,305 买澳元沽美元 二零二一年七月二十一日 US$ 美元44,375 (10,478) Buy AUD and Sell USD 21st July 2021 AUD 澳元126,663 买澳元沽美元 二零二一年七月二十一日 US$ 美元95,889 (6,118) Buy AUD and Sell USD 21st July 2021 AUD 澳元457,765 买澳元沽美元 二零二一年七月二十一日 US$ 美元344,165 (3,609) Buy AUD and Sell USD 21st July 2021 AUD 澳元92,081 买澳元沽美元 二零二一年七月二十一日 US$ 美元69,303 (1,295) Buy AUD and Sell USD 21st July 2021 AUD 澳元117,961 买澳元沽美元 二零二一年七月二十一日 US$ 美元88,648 (622) Buy CNH and Sell USD 21st July 2021 CNH 人民币3,689,057,567 买人民币沽美元 二零二一年七月二十一日 US$ 美元576,699,269 (50,661,430) Buy CNH and Sell USD 21st July 2021 CNH 人民币1,138,600,146 买人民币沽美元 二零二一年七月二十一日 US$ 美元177,993,935 (15,636,273) Buy CNH and Sell USD 21st July 2021 CNH 人民币24,826,960 买人民币沽美元 二零二一年七月二十一日 US$ 美元3,866,806 (229,756) Buy CNH and Sell USD 21st July 2021 CNH 人民币7,960,998 买人民币沽美元 二零二一年七月二十一日 US$ 美元1,242,383 (92,740) 5. 衍生金融工具（续） (b) 远期外汇合约（续） 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2021 (Continued) 截至二零二一年六月三十日（续） 95 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities (Continued): 金融负债（续）： Buy CNH and Sell USD 21st July 2021 CNH 人民币7,819,787 买人民币沽美元 二零二一年七月二十一日 US$ 美元1,219,872 (87,419) Buy CNH and Sell USD 21st July 2021 CNH 人民币4,134,874 买人民币沽美元 二零二一年七月二十一日 US$ 美元645,436 (49,352) Buy CNH and Sell USD 21st July 2021 CNH 人民币4,160,072 买人民币沽美元 二零二一年七月二十一日 US$ 美元643,763 (6,120) Buy CNH and Sell USD 21st July 2021 CNH 人民币506,667 买人民币沽美元 二零二一年七月二十一日 US$ 美元79,088 (6,047) Buy CNH and Sell USD 21st July 2021 CNH 人民币371,207 买人民币沽美元 二零二一年七月二十一日 US$ 美元57,908 (4,150) Buy CNH and Sell USD 21st July 2021 CNH 人民币3,174,443 买人民币沽美元 二零二一年七月二十一日 US$ 美元490,956 (2,473) Buy CNH and Sell USD 21st July 2021 CNH 人民币3,827,937 买人民币沽美元 二零二一年七月二十一日 US$ 美元591,892 (1,954) Buy CNH and Sell USD 21st July 2021 CNH 人民币194,309 买人民币沽美元 二零二一年七月二十一日 US$ 美元30,264 (1,799) Buy CNH and Sell USD 21st July 2021 CNH 人民币1,041,315 买人民币沽美元 二零二一年七月二十一日 US$ 美元161,142 (1,532) 5. 衍生金融工具（续） (b) 远期外汇合约（续） 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2021 (Continued) 截至二零二一年六月三十日（续） 施罗德亚洲高息股债基金 96 Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities (Continued): 金融负债（续）： Buy CNH and Sell USD 21st July 2021 CNH 人民币38,052 买人民币沽美元 二零二一年七月二十一日 US$ 美元5,938 (443) Buy CNH and Sell USD 21st July 2021 CNH 人民币97,803 买人民币沽美元 二零二一年七月二十一日 US$ 美元15,126 (76) Buy CNH and Sell USD 21st July 2021 CNH 人民币118,426 买人民币沽美元 二零二一年七月二十一日 US$ 美元18,312 (61) Buy GBP and Sell USD 21st July 2021 GBP 英镑17,927,304 买英镑沽美元 二零二一年七月二十一日 US$ 美元25,413,818 (5,022,667) Buy GBP and Sell USD 21st July 2021 GBP 英镑713,178 买英镑沽美元 二零二一年七月二十一日 US$ 美元1,011,003 (199,810) Buy GBP and Sell USD 21st July 2021 GBP 英镑581,212 买英镑沽美元 二零二一年七月二十一日 US$ 美元810,907 (61,714) Buy GBP and Sell USD 21st July 2021 GBP 英镑92,100 买英镑沽美元 二零二一年七月二十一日 US$ 美元129,903 (20,692) Buy GBP and Sell USD 21st July 2021 GBP 英镑163,630 买英镑沽美元 二零二一年七月二十一日 US$ 美元228,590 (19,646) Buy GBP and Sell USD 21st July 2021 GBP 英镑99,349 买英镑沽美元 二零二一年七月二十一日 US$ 美元138,146 (6,928) 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2021 (Continued) 截至二零二一年六月三十日（续） 5. 衍生金融工具（续） (b) 远期外汇合约（续） 97 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities (Continued): 金融负债（续）： Buy GBP and Sell USD 21st July 2021 GBP 英镑46,248 买英镑沽美元 二零二一年七月二十一日 US$ 美元64,229 (2,613) Buy GBP and Sell USD 21st July 2021 GBP 英镑18,118 买英镑沽美元 二零二一年七月二十一日 US$ 美元25,216 (1,442) Buy GBP and Sell USD 21st July 2021 GBP 英镑592 买英镑沽美元 二零二一年七月二十一日 US$ 美元823 (41) Buy USD and Sell AUD 21st July 2021 US$ 美元115,444 买美元沽澳元 二零二一年七月二十一日 AUD 澳元154,249 (2,865) Buy USD and Sell CNH 21st July 2021 US$ 美元83,801,940 买美元沽人民币 二零二一年七月二十一日 CNH 人民币543,692,072 (1,791,461) Buy USD and Sell CNH 21st July 2021 US$ 美元666,840 买美元沽人民币 二零二一年七月二十一日 CNH 人民币4,326,270 (14,169) Buy USD and Sell CNH 21st July 2021 US$ 美元281,769 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,828,011 (5,956) Buy USD and Sell CNH 21st July 2021 US$ 美元296,373 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,922,127 (5,507) Buy USD and Sell CNH 21st July 2021 US$ 美元161,115 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,046,678 (5,117) 5. 衍生金融工具（续） (b) 远期外汇合约（续） 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2021 (Continued) 截至二零二一年六月三十日（续） 施罗德亚洲高息股债基金 98 Notes to the Financial Statements 财务报表之注釋 5. 衍生金融工具（续） (b) 远期外汇合约（续） Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities (Continued): 金融负债（续）： Buy USD and Sell CNH 21st July 2021 US$ 美元241,050 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,563,330 (4,479) Buy USD and Sell CNH 21st July 2021 US$ 美元82,479 买美元沽人民币 二零二一年七月二十一日 CNH 人民币535,820 (2,620) Buy USD and Sell CNH 21st July 2021 US$ 美元383,307 买美元沽人民币 二零二一年七月二十一日 CNH 人民币2,482,153 (2,572) Buy USD and Sell CNH 21st July 2021 US$ 美元120,553 买美元沽人民币 二零二一年七月二十一日 CNH 人民币782,113 (2,562) Buy USD and Sell CNH 21st July 2021 US$ 美元537,203 买美元沽人民币 二零二一年七月二十一日 CNH 人民币3,476,762 (1,253) Buy USD and Sell CNH 21st July 2021 US$ 美元267,856 买美元沽人民币 二零二一年七月二十一日 CNH 人民币1,733,559 (625) Buy USD and Sell CNH 21st July 2021 US$ 美元43,735 买美元沽人民币 二零二一年七月二十一日 CNH 人民币283,213 (294) (171,366,759) 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2021 (Continued) 截至二零二一年六月三十日（续） 99 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2020 截至二零二零年六月三十日 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets 金融资产： Buy AUD and Sell USD 21st July 2020 AUD 澳元90,935 买澳元沽美元 二零二零年七月二十一日 US$ 美元62,253 2,808 Buy AUD and Sell USD 21st July 2020 AUD 澳元153,676 买澳元沽美元 二零二零年七月二十一日 US$ 美元105,329 3,790 Buy AUD and Sell USD 21st July 2020 AUD 澳元314,844 买澳元沽美元 二零二零年七月二十一日 US$ 美元215,873 7,148 Buy AUD and Sell USD 21st July 2020 AUD 澳元245,401 买澳元沽美元 二零二零年七月二十一日 US$ 美元167,967 7,834 Buy AUD and Sell USD 21st July 2020 AUD 澳元1,219,608 买澳元沽美元 二零二零年七月二十一日 US$ 美元837,085 21,014 Buy AUD and Sell USD 21st July 2020 AUD 澳元1,576,568 买澳元沽美元 二零二零年七月二十一日 US$ 美元1,081,847 29,020 Buy AUD and Sell USD 21st July 2020 AUD 澳元1,448,903 买澳元沽美元 二零二零年七月二十一日 US$ 美元991,181 50,402 Buy AUD and Sell USD 21st July 2020 AUD 澳元2,006,889 买澳元沽美元 二零二零年七月二十一日 US$ 美元1,368,024 107,558 Buy AUD and Sell USD 21st July 2020 AUD 澳元575,689,593 买澳元沽美元 二零二零年七月二十一日 US$ 美元392,426,871 30,853,716 Buy CNH and Sell USD 21st July 2020 CNH 人民币743,634 买人民币沽美元 二零二零年七月二十一日 US$ 美元105,099 31 5. 衍生金融工具（续） (b) 远期外汇合约（续） 施罗德亚洲高息股债基金 100 Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets (Continued): 金融资产（续）： Buy CNH and Sell USD 21st July 2020 CNH 人民币476,372 买人民币沽美元 二零二零年七月二十一日 US$ 美元67,317 89 Buy CNH and Sell USD 21st July 2020 CNH 人民币1,285,200 买人民币沽美元 二零二零年七月二十一日 US$ 美元181,630 127 Buy CNH and Sell USD 21st July 2020 CNH 人民币69,986 买人民币沽美元 二零二零年七月二十一日 US$ 美元9,873 146 Buy CNH and Sell USD 21st July 2020 CNH 人民币71,769 买人民币沽美元 二零二零年七月二十一日 US$ 美元10,114 229 Buy CNH and Sell USD 21st July 2020 CNH 人民币84,796 买人民币沽美元 二零二零年七月二十一日 US$ 美元11,942 328 Buy CNH and Sell USD 21st July 2020 CNH 人民币198,336 买人民币沽美元 二零二零年七月二十一日 US$ 美元27,979 412 Buy CNH and Sell USD 21st July 2020 CNH 人民币857,714 买人民币沽美元 二零二零年七月二十一日 US$ 美元121,132 730 Buy CNH and Sell USD 21st July 2020 CNH 人民币337,900 买人民币沽美元 二零二零年七月二十一日 US$ 美元47,663 732 Buy CNH and Sell USD 21st July 2020 CNH 人民币466,115 买人民币沽美元 二零二零年七月二十一日 US$ 美元65,749 1,010 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2020 (Continued) 截至二零二零年六月三十日（续） 5. 衍生金融工具（续） (b) 远期外汇合约（续） 101 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2020 (Continued) 截至二零二零年六月三十日（续） Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets (Continued): 金融资产（续）： Buy CNH and Sell USD 21st July 2020 CNH 人民币897,873 买人民币沽美元 二零二零年七月二十一日 US$ 美元126,763 1,079 Buy CNH and Sell USD 21st July 2020 CNH 人民币6,576,470 买人民币沽美元 二零二零年七月二十一日 US$ 美元929,339 1,229 Buy CNH and Sell USD 21st July 2020 CNH 人民币521,627 买人民币沽美元 二零二零年七月二十一日 US$ 美元73,512 1,648 Buy CNH and Sell USD 21st July 2020 CNH 人民币2,713,874 买人民币沽美元 二零二零年七月二十一日 US$ 美元383,272 2,308 Buy CNH and Sell USD 21st July 2020 CNH 人民币786,130 买人民币沽美元 二零二零年七月二十一日 US$ 美元110,803 2,370 Buy CNH and Sell USD 21st July 2020 CNH 人民币2,220,574 买人民币沽美元 二零二零年七月二十一日 US$ 美元313,505 2,668 Buy CNH and Sell USD 21st July 2020 CNH 人民币1,287,606 买人民币沽美元 二零二零年七月二十一日 US$ 美元181,456 4,106 Buy CNH and Sell USD 21st July 2020 CNH 人民币3,448,601 买人民币沽美元 二零二零年七月二十一日 US$ 美元486,008 10,897 Buy CNH and Sell USD 21st July 2020 CNH 人民币3,729,041 买人民币沽美元 二零二零年七月二十一日 US$ 美元525,190 14,423 5. 衍生金融工具（续） (b) 远期外汇合约（续） 施罗德亚洲高息股债基金 102 Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets (Continued): 金融资产（续）： Buy CNH and Sell USD 21st July 2020 CNH 人民币1,321,856,934 买人民币沽美元 二零二零年七月二十一日 US$ 美元186,401,976 3,294,388 Buy CNH and Sell USD 21st July 2020 CNH 人民币3,542,752,247 买人民币沽美元 二零二零年七月二十一日 US$ 美元499,582,066 8,829,398 Buy GBP and Sell USD 21st July 2020 GBP 英镑7,811 买英镑沽美元 二零二零年七月二十一日 US$ 美元9,623 235 Buy USD and Sell AUD 21st July 2020 US$ 美元35,563 买美元沽澳元 二零二零年七月二十一日 AUD 澳元51,515 706 Buy USD and Sell AUD 21st July 2020 US$ 美元70,147 买美元沽澳元 二零二零年七月二十一日 AUD 澳元101,442 2,294 Buy USD and Sell AUD 21st July 2020 US$ 美元311,415 买美元沽澳元 二零二零年七月二十一日 AUD 澳元451,494 4,076 Buy USD and Sell AUD 21st July 2020 US$ 美元1,917,958 买美元沽澳元 二零二零年七月二十一日 AUD 澳元2,778,925 34,476 Buy USD and Sell AUD 21st July 2020 US$ 美元1,506,562 买美元沽澳元 二零二零年七月二十一日 AUD 澳元2,164,329 125,937 Buy USD and Sell AUD 21st July 2020 US$ 美元10,215,923 买美元沽澳元 二零二零年七月二十一日 AUD 澳元14,798,244 202,754 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2020 (Continued) 截至二零二零年六月三十日（续） 5. 衍生金融工具（续） (b) 远期外汇合约（续） 103 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets (Continued): 金融资产（续）： Buy USD and Sell CNH 21st July 2020 US$ 美元238,687 买美元沽人民币 二零二零年七月二十一日 CNH 人民币1,688,180 659 Buy USD and Sell CNH 21st July 2020 US$ 美元400,071 买美元沽人民币 二零二零年七月二十一日 CNH 人民币2,829,612 1,105 Buy USD and Sell CNH 21st July 2020 US$ 美元195,855 买美元沽人民币 二零二零年七月二十一日 CNH 人民币1,383,070 2,919 Buy USD and Sell CNH 21st July 2020 US$ 美元340,775 买美元沽人民币 二零二零年七月二十一日 CNH 人民币2,406,606 4,912 Buy USD and Sell GBP 21st July 2020 US$ 美元37,482 买美元沽英镑 二零二零年七月二十一日 GBP 英镑29,698 6,063 Buy USD and Sell GBP 21st July 2020 US$ 美元234,467 买美元沽英镑 二零二零年七月二十一日 GBP 英镑185,775 37,926 43,675,700 5. 衍生金融工具（续） (b) 远期外汇合约（续） 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2020 (Continued) 截至二零二零年六月三十日（续） 施罗德亚洲高息股债基金 104 Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities 金融负债： Buy AUD and Sell USD 21st July 2020 AUD 澳元402,773 买澳元沽美元 二零二零年七月二十一日 US$ 美元280,369 (23,467) Buy AUD and Sell USD 21st July 2020 AUD 澳元609,706 买澳元沽美元 二零二零年七月二十一日 US$ 美元420,818 (7,650) Buy AUD and Sell USD 21st July 2020 AUD 澳元250,478 买澳元沽美元 二零二零年七月二十一日 US$ 美元173,207 (5,682) Buy AUD and Sell USD 21st July 2020 AUD 澳元499,135 买澳元沽美元 二零二零年七月二十一日 US$ 美元344,288 (4,602) Buy AUD and Sell USD 21st July 2020 AUD 澳元629,114 买澳元沽美元 二零二零年七月二十一日 US$ 美元433,778 (4,519) Buy CNH and Sell USD 21st July 2020 CNH 人民币4,788,011 买人民币沽美元 二零二零年七月二十一日 US$ 美元678,075 (10,485) Buy CNH and Sell USD 21st July 2020 CNH 人民币513,661 买人民币沽美元 二零二零年七月二十一日 US$ 美元72,752 (1,186) Buy CNH and Sell USD 21st July 2020 CNH 人民币662,826 买人民币沽美元 二零二零年七月二十一日 US$ 美元93,732 (392) Buy GBP and Sell USD 21st July 2020 GBP 英镑7,163,796 买英镑沽美元 二零二零年七月二十一日 US$ 美元8,996,618 (1,115,339) 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2020 (Continued) 截至二零二零年六月三十日（续） 5. 衍生金融工具（续） (b) 远期外汇合约（续） 105 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities (Continued): 金融负债（续）： Buy GBP and Sell USD 21st July 2020 GBP 英镑1,145,758 买英镑沽美元 二零二零年七月二十一日 US$ 美元1,438,894 (178,384) Buy GBP and Sell USD 21st July 2020 GBP 英镑10,780 买英镑沽美元 二零二零年七月二十一日 US$ 美元13,521 (1,549) Buy USD and Sell AUD 21st July 2020 US$ 美元4,891,225 买美元沽澳元 二零二零年七月二十一日 AUD 澳元7,136,385 (176,220) Buy USD and Sell AUD 21st July 2020 US$ 美元561,958 买美元沽澳元 二零二零年七月二十一日 AUD 澳元821,481 (28,648) Buy USD and Sell AUD 21st July 2020 US$ 美元505,198 买美元沽澳元 二零二零年七月二十一日 AUD 澳元738,100 (23,573) Buy USD and Sell AUD 21st July 2020 US$ 美元832,454 买美元沽澳元 二零二零年七月二十一日 AUD 澳元1,213,140 (22,386) Buy USD and Sell AUD 21st July 2020 US$ 美元353,116 买美元沽澳元 二零二零年七月二十一日 AUD 澳元515,016 (11,729) Buy USD and Sell AUD 21st July 2020 US$ 美元198,853 买美元沽澳元 二零二零年七月二十一日 AUD 澳元289,727 (5,011) 5. 衍生金融工具（续） (b) 远期外汇合约（续） 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2020 (Continued) 截至二零二零年六月三十日（续） 施罗德亚洲高息股债基金 106 Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities (Continued): 金融负债（续）： Buy USD and Sell AUD 21st July 2020 US$ 美元71,956 买美元沽澳元 二零二零年七月二十一日 AUD 澳元105,108 (3,251) Buy USD and Sell CNH 21st July 2020 US$ 美元12,921,423 买美元沽人民币 二零二零年七月二十一日 CNH 人民币91,659,353 (259,275) Buy USD and Sell CNH 21st July 2020 US$ 美元614,343 买美元沽人民币 二零二零年七月二十一日 CNH 人民币4,363,916 (18,926) Buy USD and Sell CNH 21st July 2020 US$ 美元719,524 买美元沽人民币 二零二零年七月二十一日 CNH 人民币5,106,526 (17,190) Buy USD and Sell CNH 21st July 2020 US$ 美元1,114,242 买美元沽人民币 二零二零年七月二十一日 CNH 人民币7,893,422 (10,776) Buy USD and Sell CNH 21st July 2020 US$ 美元934,225 买美元沽人民币 二零二零年七月二十一日 CNH 人民币6,618,637 (9,560) Buy USD and Sell CNH 21st July 2020 US$ 美元330,758 买美元沽人民币 二零二零年七月二十一日 CNH 人民币2,346,971 (7,414) Buy USD and Sell CNH 21st July 2020 US$ 美元158,404 买美元沽人民币 二零二零年七月二十一日 CNH 人民币1,125,207 (4,880) 5. 衍生金融工具（续） (b) 远期外汇合约（续） 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2020 (Continued) 截至二零二零年六月三十日（续） 107 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities (Continued): 金融负债（续）： Buy USD and Sell CNH 21st July 2020 US$ 美元181,941 买美元沽人民币 二零二零年七月二十一日 CNH 人民币1,291,249 (4,346) Buy USD and Sell CNH 21st July 2020 US$ 美元383,535 买美元沽人民币 二零二零年七月二十一日 CNH 人民币2,717,217 (3,939) Buy USD and Sell CNH 21st July 2020 US$ 美元159,177 买美元沽人民币 二零二零年七月二十一日 CNH 人民币1,129,695 (3,803) Buy USD and Sell CNH 21st July 2020 US$ 美元221,066 买美元沽人民币 二零二零年七月二十一日 CNH 人民币1,567,513 (3,733) Buy USD and Sell CNH 21st July 2020 US$ 美元588,569 买美元沽人民币 二零二零年七月二十一日 CNH 人民币4,166,680 (2,611) Buy USD and Sell CNH 21st July 2020 US$ 美元103,833 买美元沽人民币 二零二零年七月二十一日 CNH 人民币736,914 (2,480) Buy USD and Sell CNH 21st July 2020 US$ 美元196,585 买美元沽人民币 二零二零年七月二十一日 CNH 人民币1,392,641 (1,911) Buy USD and Sell CNH 21st July 2020 US$ 美元75,879 买美元沽人民币 二零二零年七月二十一日 CNH 人民币537,985 (1,224) Buy USD and Sell CNH 21st July 2020 US$ 美元70,650 买美元沽人民币 二零二零年七月二十一日 CNH 人民币500,958 (1,193) 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2020 (Continued) 截至二零二零年六月三十日（续） 5. 衍生金融工具（续） (b) 远期外汇合约（续） 施罗德亚洲高息股债基金 108 Notes to the Financial Statements 财务报表之注釋 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities (Continued): 金融负债（续）： Buy USD and Sell CNH 21st July 2020 US$ 美元70,774 买美元沽人民币 二零二零年七月二十一日 CNH 人民币501,792 (1,142) Buy USD and Sell CNH 21st July 2020 US$ 美元156,289 买美元沽人民币 二零二零年七月二十一日 CNH 人民币1,106,425 (693) Buy USD and Sell CNH 21st July 2020 US$ 美元275,547 买美元沽人民币 二零二零年七月二十一日 CNH 人民币1,949,990 (451) Buy USD and Sell CNH 21st July 2020 US$ 美元162,808 买美元沽人民币 二零二零年七月二十一日 CNH 人民币1,152,261 (382) (1,980,002) 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) At 30th June 2020 (Continued) 截至二零二零年六月三十日（续） 5. 衍生金融工具（续） (b) 远期外汇合约（续） 109 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) As at 30th June 2021 and 2020, the Fund held the outstanding foreign exchange forward contracts with Morgan Stanley and Co Intl, London, as shown below: At 30th June 2021 截至二零二一年六月三十日 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets 金融资产： Buy USD and Sell TWD 22nd July 2021 US$ 美元226,171,244 买美元沽新台币 二零二一年七月二十二日 TWD 新台币6,300,000,000 412,461 At 30th June 2020 截至二零二零年六月三十日 Buy USD and Sell TWD 20th August 2020 US$ 美元221,118,520 买美元沽新台币 二零二零年八月二十日 TWD 新台币6,500,000,000 5,875,295 5. 衍生金融工具（续） (b) 远期外汇合约（续） 截至二零二一年及二零二零年六月三十日， 本基金持有以下六易对手为Morgan Stanley and Co Intl, London的远期外汇合约： 施罗德亚洲高息股债基金 110 Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) As at 30th June 2021, the Fund held the outstanding foreign exchange forward contracts with The Bank of New York Mellon, as shown below: At 30th June 2021 截至二零二一年六月三十日 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets 金融资产： Buy USD and Sell SGD 22nd July 2021 US$ 美元149,718,529 买美元沽新台币新加坡元 二零二一年七月二十二日 SGD新加坡元200,000,000 7,287,366 As at 30th June 2021, the Fund held the outstanding foreign exchange forward contracts with State Street Bank and Trust Company, London, as shown below: At 30th June 2021 截至二零二一年六月三十日 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial assets 金融资产： Buy USD and Sell AUD 22nd July 2021 US$ 美元321,955,755 买美元沽澳元 二零二一年七月二十二日 AUD 澳元415,000,000 80,469,086 5. 衍生金融工具（续） (b) 远期外汇合约（续） 截至二零二一年六月三十日，本基金持有 以下交易对手为 The Bank of New York Mellon的远期外汇合约： 截至二零二一年六月三十日，本基金持有以 下交易对手为State Street Bank and Trust Company, London的远期外汇合约： 111 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) As at 30th June 2021 and 2020, the Fund held the outstanding foreign exchange forward contracts with Goldman Sachs Intl, London, as shown below: At 30th June 2021 截至二零二一年六月三十日 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities 金融负债： Buy USD and Sell KRW 22nd July 2021 US$ 美元150,575,731 买美元沽韩圜 二零二一年七月二十二日 KRW 韩圜170,000,000,000 (2,814,858) At 30th June 2020 截至二零二零年六月三十日 Financial liabilities 金融负债： Buy USD and Sell HKD 20th August 2020 US$ 美元386,863,658 买美元沽港元 二零二零年八月二十日 HKD 港元3,000,000,000 (856,129) 5. 衍生金融工具（续） (b) 远期外汇合约（续） 截至二零二一年及二零二零年六月三十日， 本基金持有以下交易对手为Goldman Sachs Intl, London的远期外汇合约： 施罗德亚洲高息股债基金 112 Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (b) Foreign exchange forward contracts (Continued) As at 30th June 2020, the Fund held the outstanding foreign exchange forward contracts with ANZ Bank Melbourne, as shown below: At 30th June 2020 截至二零二零年六月三十日 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities 金融负债： Buy USD and Sell AUD 20th August 2020 US$ 美元194,408,475 买美元沽澳元 二零二零年八月二十日 AUD 澳元285,000,000 (14,376,770) As at 30th June 2020, the Fund held the outstanding foreign exchange forward contracts with Nomura International Plc, as shown below: At 30th June 2020 截至二零二零年六月三十日 Fair value 公允值 Foreign exchange forward contracts 远期外汇合约 Maturity date 到期日 Notional value 名义值 HK$ 港元 Financial liabilities 金融负债： Buy USD and Sell CNH 20th August 2020 US$ 美元75,244,534 买美元沽人民币 二零二零年八月二十日 CNH 人民币535,000,000 (1,923,619) 5. 衍生金融工具（续） (b) 远期外汇合约（续） 截至二零二零年六月三十日，本基金持有以 下交易对手为ANZ Bank Melbourne的远期 外汇合约： 截至二零二零年六月三十日，本基金持有以 下交易对手为Nomura International Plc的 远期外汇合约： 113 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (c) Credit default swaps Credit default swaps are contractual arrangement where the purchaser of the swap makes payments up until the maturity date of a contract. Payments are made to the seller of the swap. In return, the seller agrees to pay off a third party debt if this party defaults on the loan. At 30th June 2021 and 2020, the Fund held the outstanding credit default swaps contract as shown below: At 30th June 2021 截至二零二一年六月三十日 Credit default swaps 信贷违约掉期 Underlying assets 相关资产 Maturity date 到期日 Notional value 名义值 US$ 美元 Counter party 托管人 Fair value 公允值 HK$ 港元 Financial assets 金融资产： JPM CDS IND 200626 – 6.4M_BSD8E84T7 iTraxx Asia ex-Japan IG Series 35 Version 1 20th June 2026 二零二六年六月二十日 6,470,588 JPMorgan Chase Bank NA New York 412,996 BAR CDS IND 200626 – 7M_BSD8DS6D7 iTraxx Asia ex-Japan IG Series 35 Version 1 20th June 2026 二零二六年六月二十日 7,016,741 Barclays Bank PLC 447,855 BAR CDS IND 200626 – 24.8M_BSD8E1U71 iTraxx Asia ex-Japan IG Series 35 Version 1 20th June 2026 二零二六年六月二十日 24,888,104 Barclays Bank PLC 1,588,525 BAR CDS IND 200626 – 12.9M_BSD8E84L4 iTraxx Asia ex-Japan IG Series 35 Version 1 20th June 2026 二零二六年六月二十日 12,941,177 Barclays Bank PLC 825,992 BAR CDS IND 200626 – 2.5M_BSD8E84Z3 iTraxx Asia ex-Japan IG Series 35 Version 1 20th June 2026 二零二六年六月二十日 2,588,235 Barclays Bank PLC 165,198 BNP CDS IND 200626 – 12M_BSD8DRPT3 iTraxx Asia ex-Japan IG Series 35 Version 1 20th June 2026 二零二六年六月二十日 12,095,155 BNP Paribas 771,993 4,212,559 5. 衍生金融工具（续） (c) 信贷违约掉期 信用违约掉期是合约安排，其中互换交易的 购买方支付款项直到合约到期日为止。款项 将支付给互换交易的卖方。卖方作为回报会 在第三方一旦就贷款违约时负责缴清该债 务。 在二零二一及二零二零年六月三十日，基金 持有的未清算信用违约掉期如下： 施罗德亚洲高息股债基金 114 Notes to the Financial Statements 财务报表之注釋 5. 衍生金融工具（续） (c) 信贷违约掉期（续） 5. DERIVATIVE FINANCIAL INSTRUMENTS (Continued) (c) Credit default swaps (Continued) At 30th June 2020 截至二零二零年六月三十日 Credit default swaps 信贷违约掉期 Underlying assets 相关资产 Maturity date 到期日 Notional value 名义值 US$ 美元 Counter party 托管人 Fair value 公允值 HK$ 港元 Financial assets 金融资产： BAR CDS IND 200625 – 5M_BSD5PTHH7 Government of the Russian federation 20th June 2025 二零二五年六月二十日 5,000,000 Barclays Bank PLC 177,960 BAR CDS IND 200625 – 47.5M_BSD5Q6YZ7 Republic of Indonesia 20th June 2025 二零二五年六月二十日 47,500,000 Barclays Bank PLC 5,677,651 HSBC CDS IND 200625 – 2.5M_BSD5Q86V3 Republic of Indonesia 20th June 2025 二零二五年六月二十日 2,500,000 The Hongkong and Shanghai Banking Corporation Limited, Hong Kong 298,823 6,154,434 6. MARGIN ACCOUNTS Margin accounts represent margin deposits held in respect of open futures contracts. As at 30th June 2021, the Fund held margin deposits of HK$336,175,827 (2020: HK$114,669,712), of which HK$85,142,331 (2020: HK$28,839,424) is restricted. 6. 保证金户口 保证金户口持有为未平仓之期货的交易保证 金。截至二零二一年六月三十日，本基金持 有336,175,827港元保证金（二零二零年： 114,669,712 港元），其中 85,142,331 港元 为受限制存款（二零二零年：28,839,424港 元）。 115 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 7. MANAGEMENT FEE AND TRUSTEE FEE Management fee and trustee fee are charged by Schroder Investment Management (Hong Kong) Limited and HSBC Institutional Trust Services (Asia) Limited respectively. Management fee is currently charged at a rate of 1.25% per annum for Class A, M and Class X and 0.625% per annum for Class C with an allowable maximum rate of 7% per annum of the net asset value of the Fund. No management fee is charged to Class I. The trustee fee for the Fund is 0.07% per annum of the net asset value of the Fund subject to a minimum fee of HK$156,000 per annum, with an allowable maximum rate of 0.5% per annum of net asset value of the Fund. Management fee payable and trustee fee payable as at year end amounted to HK$31,884,691 (2020: HK$29,523,145) and HK$1,829,596 (2020: HK$1,825,487) respectively. Total management fee and trustee fee for the year amounted to HK$363,254,595 (2020: HK$391,223,068) and HK$20,954,144 (2020: HK$22,626,929) respectively. These fees are accrued daily on each valuation date and payable monthly or quarterly in arrears. 7. 管理费用及受托人费用 施罗德投资管理（香港）有限公司及汇丰机构 信托服务（亚洲）有限公司分别收取管理费用 及受托人费用。 现时管理费用分别为类别净资产的每年百分 比，A类别及M类别及X类别为百分之一点 二五，C类别为百分之零点六二五，以每年 本基金净资产百分之七为限。本基金没有征 收I类别的管理费。 本基金征收的受托人费用为每年本基金净资 产的百分之零点零七，惟最低收费为每年 156,000港元，以每年本基金资产值的百分 之零点五为限。 截至年终，应付管理费及受托人费用分别为 31,884,691港元（二零二零年：29,523,145 港 元 ）及 1,829,596 港 元（ 二 零 二 零 年： 1,825,487港元）。 年 内 之 管 理 费 及 受 托 人 费 用 分 别 为 363,254,595 港 元（ 二 零 二 零 年： 391,223,068港元）及20,954,144港元（二零 二零年：22,626,929港元）。 费用于每个估值日每日积累，并于每月月底 或每季季末支付。 施罗德亚洲高息股债基金 116 Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (a) Accumulation units The Manager shall not make any distributions of income or net capital gains realised on the sale of investments in respect of the accumulation units. Any income and net capital gains in respect of the accumulation units shall be accumulated and capitalised. (b) Distribution units In respect of distribution units, the Manager will declare and pay monthly distributions on such date as may be determined by the Manager. However, the distribution rate is not guaranteed. In the event that the income generated from the Fund’s investments attributable to the relevant Class of the distribution units during the relevant period is insufficient to pay distributions as declared, the Manager may in its discretion determine such distributions be paid from capital. The Manager will periodically review distribution units and reserve the right to make changes to the distribution policies of the distribution units. Any change to the frequency of distributions is subject to one month’s prior notice to the relevant unitholders. If the Manager does not intend to retain the flexibility to pay distributions out of the amount originally invested or income attributable to the prior year of the Fund, the change will be subject to the SFC’s prior approval and one month’s prior notice to the relevant unitholders. 8. 派息 (a) 累积份额 基金管理人不就出售投资项目变现所获取的 资本净收益派息。任何累积份额的收益和资 本净收益应予以累积和转作为资本。 (b) 收息份额 就收息份额而言，基金管理人将于其决定的 每月该等日期宣布和派发股利。然而，基金 管理人对派息率不会作出保证。假如在相关 期间本基金投资获得而可拨入相关收息份额 类别的收益不足以支付已宣布的派息，基金 管理人可酌情决定从资本中支付派息。 基金管理人会定期检讨收息份额并保留权利 更改收息份额之派息政策。任何派息次数的 更改，须向有关份额持有人发出一个月事先 通知。如基金管理人不打算保留本基金从原 来投资款项或之前累积的收益中支付派息的 灵活性，该变更将须获证监会事先批准及向 有关份额持有人发出一个月事先通知。 117 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) The following table shows the distributions statement of the Fund during the years ended 30th June 2021 and 2020: 2021 二零二一年 HK$ 港元 2020 二零二零年 HK$ 港元 Undistributed income at the beginning of the year 年初未分配收益 – – Total comprehensive income for the year 全面收益总值 5,922,600,558 (3,580,746,191) Distribution to unitholders (Note) 派息予份额持有人 (注釋） (1,351,571,221) (1,328,225,403) 4,571,029,337 (4,908,971,594) Undistributed income transferred to net assets attributable to unitholders 转入分配给份额持有人净资产之未分配收益 (4,571,029,337) 4,908,971,594 Undistributed income carried forward at the end of the year 年末结转未分配收益 – – 8. 派息（续） (b) 收息份额（续） 下表呈列截至二零二一年及二零二零年六月 三十日止年度的派息记录： 施罗德亚洲高息股债基金 118 Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) Note: The following tables show the distributions of the Fund during the years ended 30th June 2021 and 2020: HKD Class A 港元A类别份额 Record date 纪录日 Payment date 派息日 No. of units entitled distributions 有权收取派息 之份额 Distribution per unit 每份额 派息额 HK$ 港元 Total distribution amount 总派息额 HK$ 港元 2021 二零二一年 29th July 2020 二零二零年七月二十九日 10th August 2020 二零二零年八月十日 85,401,625.17 0.376038 32,114,256.33 26th August 2020 二零二零年八月二十六日 8th September 2020 二零二零年九月八日 84,564,696.38 0.380511 32,177,797.18 23rd September 2020 二零二零年九月二十三日 9th October 2020 二零二零年十月九日 83,475,613.88 0.372438 31,089,490.68 28th October 2020 二零二零年十月二十八日 9th November 2020 二零二零年十一月九日 81,618,676.14 0.371746 30,341,416.38 25th November 2020 二零二零年十一月二十五日 7th December 2020 二零二零年十二月七日 81,449,602.28 0.389539 31,727,796.62 16th December 2020 二零二零年十二月十六日 7th January 2021 二零二一年一月七日 81,124,711.92 0.396376 32,155,888.81 27th January 2021 二零二一年一月二十七日 8th February 2021 二零二一年二月八日 80,714,145.65 0.415089 33,503,554.00 24th February 2021 二零二一年二月二十四日 8th March 2021 二零二一年三月八日 80,007,294.30 0.418315 33,468,251.32 24th March 2021 二零二一年三月二十四日 7th April 2021 二零二一年四月七日 82,804,048.83 0.412231 34,134,395.85 28th April 2021 二零二一年四月二十八日 10th May 2021 二零二一年五月十日 86,273,545.82 0.420409 36,270,175.12 26th May 2021 二零二一年五月二十六日 7th June 2021 二零二一年六月七日 87,200,519.08 0.414895 36,179,059.36 30th June 2021 二零二一年六月三十日 12th July 2021 二零二一年七月十二日 89,282,739.94 0.416363 37,174,029.45 2020 二零二零年 24th July 2019 二零一九年七月二十四日 6th August 2019 二零一九年八月六日 88,898,313.08 0.445092 39,567,927.97 28th August 2019 二零一九年八月二十八日 9th September 2019 二零一九年九月九日 88,776,452.97 0.435413 38,654,421.72 25th September 2019 二零一九年九月二十五日 8th October 2019 二零一九年十月八日 87,717,817.54 0.438663 38,478,561.00 30th October 2019 二零一九年十月三十日 12th November 2019 二零一九年十一月十二日 88,414,877.13 0.441385 39,025,000.54 27th November 2019 二零一九年十一月二十七日 10th December 2019 二零一九年十二月十日 89,830,814.72 0.392868 35,291,652.52 18th December 2019 二零一九年十二月十八日 2nd January 2020 二零二零年一月二日 90,786,463.32 0.389063 35,321,653.78 29th January 2020 二零二零年一月二十九日 10th February 2020 二零二零年二月十日 94,945,003.48 0.391757 37,195,369.73 26th February 2020 二零二零年二月二十六日 9th March 2020 二零二零年三月九日 93,723,903.07 0.383074 35,903,190.44 25th March 2020 二零二零年三月二十五日 7th April 2020 二零二零年四月七日 89,450,828.86 0.316306 28,293,833.87 22nd April 2020 二零二零年四月二十二日 6th May 2020 二零二零年五月六日 89,381,546.75 0.349104 31,203,455.50 27th May 2020 二零二零年五月二十七日 9th June 2020 二零二零年六月九日 89,675,305.97 0.358850 32,179,983.55 30th June 2020 二零二零年六月三十日 10th July 2020 二零二零年七月十日 87,407,766.67 0.367633 32,133,979.48 8. 派息（续） (b) 收息份额（续） 注釋：下表呈列截至二零二一年及二零二零 年六月三十日止年度内派息记录： 119 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) HKD Class C 港元C类别份额 Record date 纪录日 Payment date 派息日 No. of units entitled distributions 有权收取派息 之份额 Distribution per unit 每份额 派息额 HK$ 港元 Total distribution amount 总派息额 HK$ 港元 2021 二零二一年 29th July 2020 二零二零年七月二十九日 10th August 2020 二零二零年八月十日 566,627.61 0.401631 227,575.21 26th August 2020 二零二零年八月二十六日 8th September 2020 二零二零年九月八日 566,636.51 0.406634 230,413.67 23rd September 2020 二零二零年九月二十三日 9th October 2020 二零二零年十月九日 566,645.56 0.398227 225,653.56 28th October 2020 二零二零年十月二十八日 9th November 2020 二零二零年十一月九日 571,696.84 0.397763 227,399.85 25th November 2020 二零二零年十一月二十五日 7th December 2020 二零二零年十二月七日 571,705.63 0.417032 238,419.54 16th December 2020 二零二零年十二月十六日 7th January 2021 二零二一年一月七日 567,148.08 0.424529 240,770.81 27th January 2021 二零二一年一月二十七日 8th February 2021 二零二一年二月八日 566,506.89 0.444941 252,062.14 24th February 2021 二零二一年二月二十四日 8th March 2021 二零二一年三月八日 561,762.05 0.448649 252,033.98 24th March 2021 二零二一年三月二十四日 7th April 2021 二零二一年四月七日 561,771.37 0.442369 248,510.24 28th April 2021 二零二一年四月二十八日 10th May 2021 二零二一年五月十日 561,780.45 0.451459 253,620.84 26th May 2021 二零二一年五月二十六日 7th June 2021 二零二一年六月七日 571,677.35 0.445786 254,845.76 30th June 2021 二零二一年六月三十日 12th July 2021 二零二一年七月十二日 576,532.69 0.447674 258,098.70 2020 二零二零年 24th July 2019 二零一九年七月二十四日 6th August 2019 二零一九年八月六日 547,865.43 0.471898 258,536.60 28th August 2019 二零一九年八月二十八日 9th September 2019 二零一九年九月九日 554,432.73 0.461958 256,124.64 25th September 2019 二零一九年九月二十五日 8th October 2019 二零一九年十月八日 564,280.14 0.465666 262,766.08 30th October 2019 二零一九年十月三十日 12th November 2019 二零一九年十一月十二日 566,980.10 0.468881 265,846.20 27th November 2019 二零一九年十一月二十七日 10th December 2019 二零一九年十二月十日 567,444.17 0.417573 236,949.36 18th December 2019 二零一九年十二月十八日 2nd January 2020 二零二零年一月二日 568,634.25 0.413701 235,244.56 29th January 2020 二零二零年一月二十九日 10th February 2020 二零二零年二月十日 555,709.47 0.416913 231,682.50 26th February 2020 二零二零年二月二十六日 9th March 2020 二零二零年三月九日 556,709.48 0.407899 227,081.24 25th March 2020 二零二零年三月二十五日 7th April 2020 二零二零年四月七日 557,292.79 0.336991 187,802.65 22nd April 2020 二零二零年四月二十二日 6th May 2020 二零二零年五月六日 557,300.91 0.372139 207,393.40 27th May 2020 二零二零年五月二十七日 9th June 2020 二零二零年六月九日 560,517.43 0.382795 214,563.27 30th June 2020 二零二零年六月三十日 10th July 2020 二零二零年七月十日 560,525.85 0.392428 219,966.04 8. 派息（续） (b) 收息份额（续） 施罗德亚洲高息股债基金 120 Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) HKD Class X 港元X类别份额 Record date 纪录日 Payment date 派息日 No. of units entitled distributions 有权收取派息 之份额 Distribution per unit 每份额 派息额 HK$ 港元 Total distribution amount 总派息额 HK$ 港元 2021 二零二一年 29th July 2020 二零二零年七月二十九日 10th August 2020 二零二零年八月十日 5,259.22 0.564567 2,969.18 26th August 2020 二零二零年八月二十六日 8th September 2020 二零二零年九月八日 5,250.86 0.571283 2,999.73 23rd September 2020 二零二零年九月二十三日 9th October 2020 二零二零年十月九日 6,857.32 0.559162 3,834.35 28th October 2020 二零二零年十月二十八日 9th November 2020 二零二零年十一月九日 6,843.47 0.558123 3,819.50 25th November 2020 二零二零年十一月二十五日 7th December 2020 二零二零年十二月七日 7,929.49 0.584836 4,637.45 16th December 2020 二零二零年十二月十六日 7th January 2021 二零二一年一月七日 7,918.97 0.595102 4,712.59 27th January 2021 二零二一年一月二十七日 8th February 2021 二零二一年二月八日 14,002.22 0.623196 8,726.13 24th February 2021 二零二一年二月二十四日 8th March 2021 二零二一年三月八日 14,275.87 0.628040 8,965.82 24th March 2021 二零二一年三月二十四日 7th April 2021 二零二一年四月七日 14,252.37 0.618905 8,820.86 28th April 2021 二零二一年四月二十八日 10th May 2021 二零二一年五月十日 21,076.18 0.631183 13,302.93 26th May 2021 二零二一年五月二十六日 7th June 2021 二零二一年六月七日 21,043.61 0.622904 13,108.15 30th June 2021 二零二一年六月三十日 12th July 2021 二零二一年七月十二日 21,927.95 0.625108 13,707.34 2020 二零二零年 24th July 2019 二零一九年七月二十四日 6th August 2019 二零一九年八月六日 64.69 0.668447 43.24 28th August 2019 二零一九年八月二十八日 9th September 2019 二零一九年九月九日 64.97 0.653680 42.47 25th September 2019 二零一九年九月二十五日 8th October 2019 二零一九年十月八日 65.24 0.658585 42.97 30th October 2019 二零一九年十月三十日 12th November 2019 二零一九年十一月十二日 65.51 0.662687 43.41 27th November 2019 二零一九年十一月二十七日 10th December 2019 二零一九年十二月十日 65.79 0.589838 38.81 18th December 2019 二零一九年十二月十八日 2nd January 2020 二零二零年一月二日 66.04 0.584123 38.58 29th January 2020 二零二零年一月二十九日 10th February 2020 二零二零年二月十日 358.87 0.588169 211.08 26th February 2020 二零二零年二月二十六日 9th March 2020 二零二零年三月九日 358.63 0.575131 206.26 25th March 2020 二零二零年三月二十五日 7th April 2020 二零二零年四月七日 3,772.49 0.474888 1,791.51 22nd April 2020 二零二零年四月二十二日 6th May 2020 二零二零年五月六日 3,295.35 0.524128 1,727.19 27th May 2020 二零二零年五月二十七日 9th June 2020 二零二零年六月九日 3,874.83 0.538762 2,087.61 30th June 2020 二零二零年六月三十日 10th July 2020 二零二零年七月十日 5,264.40 0.551947 2,905.67 8. 派息（续） (b) 收息份额（续） 121 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) USD Class A 美元A类别份额 Record date 纪录日 Payment date 派息日 No. of units entitled distributions 有权收取派息 之份额 Distribution per unit 每份额 派息额 US$ 美元 Total distribution amount 总派息额 US$ 美元 2021 二零二一年 29th July 2020 二零二零年七月二十九日 10th August 2020 二零二零年八月十日 137,652,401.11 0.037785 5,201,195.98 26th August 2020 二零二零年八月二十六日 8th September 2020 二零二零年九月八日 136,429,492.01 0.038233 5,216,108.77 23rd September 2020 二零二零年九月二十三日 9th October 2020 二零二零年十月九日 133,779,605.23 0.037424 5,006,567.95 28th October 2020 二零二零年十月二十八日 9th November 2020 二零二零年十一月九日 129,785,418.87 0.037354 4,848,004.54 25th November 2020 二零二零年十一月二十五日 7th December 2020 二零二零年十二月七日 128,474,907.66 0.039137 5,028,122.46 16th December 2020 二零二零年十二月十六日 7th January 2021 二零二一年一月七日 128,197,455.74 0.039820 5,104,822.69 27th January 2021 二零二一年一月二十七日 8th February 2021 二零二一年二月八日 127,439,060.00 0.041699 5,314,081.36 24th February 2021 二零二一年二月二十四日 8th March 2021 二零二一年三月八日 126,363,590.84 0.042009 5,308,408.09 24th March 2021 二零二一年三月二十四日 7th April 2021 二零二一年四月七日 129,065,879.34 0.041327 5,333,905.60 28th April 2021 二零二一年四月二十八日 10th May 2021 二零二一年五月十日 133,835,755.76 0.042175 5,644,523.00 26th May 2021 二零二一年五月二十六日 7th June 2021 二零二一年六月七日 134,301,009.47 0.041628 5,590,682.42 30th June 2021 二零二一年六月三十日 12th July 2021 二零二一年七月十二日 136,810,953.19 0.041752 5,712,130.92 2020 二零二零年 24th July 2019 二零一九年七月二十四日 6th August 2019 二零一九年八月六日 137,863,971.73 0.044352 6,114,542.87 28th August 2019 二零一九年八月二十八日 9th September 2019 二零一九年九月九日 138,651,348.62 0.043216 5,991,956.68 25th September 2019 二零一九年九月二十五日 8th October 2019 二零一九年十月八日 139,387,296.50 0.043587 6,075,474.09 30th October 2019 二零一九年十月三十日 12th November 2019 二零一九年十一月十二日 142,158,110.64 0.043838 6,231,927.25 27th November 2019 二零一九年十一月二十七日 10th December 2019 二零一九年十二月十日 147,084,127.29 0.039078 5,747,753.53 18th December 2019 二零一九年十二月十八日 2nd January 2020 二零二零年一月二日 149,839,577.39 0.038910 5,830,257.96 29th January 2020 二零二零年一月二十九日 10th February 2020 二零二零年二月十日 157,684,417.32 0.039246 6,188,482.64 26th February 2020 二零二零年二月二十六日 9th March 2020 二零二零年三月九日 152,056,835.34 0.038276 5,820,127.43 25th March 2020 二零二零年三月二十五日 7th April 2020 二零二零年四月七日 143,165,404.56 0.031770 4,548,364.90 22nd April 2020 二零二零年四月二十二日 6th May 2020 二零二零年五月六日 142,950,337.34 0.035079 5,014,554.88 27th May 2020 二零二零年五月二十七日 9th June 2020 二零二零年六月九日 142,770,091.81 0.036048 5,146,576.27 30th June 2020 二零二零年六月三十日 10th July 2020 二零二零年七月十日 140,638,049.94 0.036939 5,195,028.93 8. 派息（续） (b) 收息份额（续） 施罗德亚洲高息股债基金 122 Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) USD Class C 美元C类别份额 Record date 纪录日 Payment date 派息日 No. of units entitled distributions 有权收取派息 之份额 Distribution per unit 每份额 派息额 US$ 美元 Total distribution amount 总派息额 US$ 美元 2021 二零二一年 29th July 2020 二零二零年七月二十九日 10th August 2020 二零二零年八月十日 1,423,022.74 0.038886 55,335.66 26th August 2020 二零二零年八月二十六日 8th September 2020 二零二零年九月八日 1,444,959.93 0.039369 56,886.63 23rd September 2020 二零二零年九月二十三日 9th October 2020 二零二零年十月九日 1,503,746.17 0.038556 57,978.44 28th October 2020 二零二零年十月二十八日 9th November 2020 二零二零年十一月九日 1,603,732.06 0.038511 61,761.33 25th November 2020 二零二零年十一月二十五日 7th December 2020 二零二零年十二月七日 1,610,825.74 0.040372 65,032.26 16th December 2020 二零二零年十二月十六日 7th January 2021 二零二一年一月七日 1,671,923.99 0.041094 68,706.04 27th January 2021 二零二一年一月二十七日 8th February 2021 二零二一年二月八日 1,797,922.00 0.043068 77,432.90 24th February 2021 二零二一年二月二十四日 8th March 2021 二零二一年三月八日 1,900,985.92 0.043413 82,527.50 24th March 2021 二零二一年三月二十四日 7th April 2021 二零二一年四月七日 2,100,117.05 0.042733 89,744.30 28th April 2021 二零二一年四月二十八日 10th May 2021 二零二一年五月十日 2,189,374.76 0.043639 95,542.13 26th May 2021 二零二一年五月二十六日 7th June 2021 二零二一年六月七日 2,343,103.74 0.043097 100,980.74 30th June 2021 二零二一年六月三十日 12th July 2021 二零二一年七月十二日 2,800,982.93 0.043255 121,156.52 2020 二零二零年 24th July 2019 二零一九年七月二十四日 6th August 2019 二零一九年八月六日 249,535.26 0.045307 11,305.69 28th August 2019 二零一九年八月二十八日 9th September 2019 二零一九年九月九日 311,188.95 0.044179 13,748.02 25th September 2019 二零一九年九月二十五日 8th October 2019 二零一九年十月八日 333,131.30 0.044585 14,852.66 30th October 2019 二零一九年十月三十日 12th November 2019 二零一九年十一月十二日 500,289.96 0.044873 22,449.51 27th November 2019 二零一九年十一月二十七日 10th December 2019 二零一九年十二月十日 715,668.94 0.040025 28,644.65 18th December 2019 二零一九年十二月十八日 2nd January 2020 二零二零年一月二日 739,344.32 0.039870 29,477.66 29th January 2020 二零二零年一月二十九日 10th February 2020 二零二零年二月十日 1,210,437.79 0.040246 48,715.28 26th February 2020 二零二零年二月二十六日 9th March 2020 二零二零年三月九日 1,286,597.05 0.039273 50,528.53 25th March 2020 二零二零年三月二十五日 7th April 2020 二零二零年四月七日 1,159,864.23 0.032614 37,827.81 22nd April 2020 二零二零年四月二十二日 6th May 2020 二零二零年五月六日 1,159,864.23 0.036030 41,789.91 27th May 2020 二零二零年五月二十七日 9th June 2020 二零二零年六月九日 1,260,388.45 0.037052 46,699.91 30th June 2020 二零二零年六月三十日 10th July 2020 二零二零年七月十日 1,348,450.11 0.037993 51,231.67 8. 派息（续） (b) 收息份额（续） 123 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) USD Class I 美元I类别份额 Record date 纪录日 Payment date 派息日 No. of units entitled distributions 有权收取派息 之份额 Distribution per unit 每份额 派息额 US$ 美元 Total distribution amount 总派息额 US$ 美元 2021 二零二一年 29th July 2020 二零二零年七月二十九日 10th August 2020 二零二零年八月十日 2,771,963.55 0.047252 130,980.82 26th August 2020 二零二零年八月二十六日 8th September 2020 二零二零年九月八日 2,771,963.55 0.047864 132,677.26 23rd September 2020 二零二零年九月二十三日 9th October 2020 二零二零年十月九日 2,766,261.11 0.046902 129,743.18 28th October 2020 二零二零年十月二十八日 9th November 2020 二零二零年十一月九日 2,766,261.11 0.046879 129,679.55 25th November 2020 二零二零年十一月二十五日 7th December 2020 二零二零年十二月七日 2,766,261.11 0.049170 136,017.06 16th December 2020 二零二零年十二月十六日 7th January 2021 二零二一年一月七日 623,762.48 0.050054 31,221.81 27th January 2021 二零二一年一月二十七日 8th February 2021 二零二一年二月八日 623,762.48 0.052502 32,748.78 24th February 2021 二零二一年二月二十四日 8th March 2021 二零二一年三月八日 623,762.48 0.052951 33,028.85 24th March 2021 二零二一年三月二十四日 7th April 2021 二零二一年四月七日 467,416.86 0.052151 24,376.26 28th April 2021 二零二一年四月二十八日 10th May 2021 二零二一年五月十日 467,416.86 0.053294 24,910.51 26th May 2021 二零二一年五月二十六日 7th June 2021 二零二一年六月七日 466,267.56 0.052661 24,554.12 30th June 2021 二零二一年六月三十日 12th July 2021 二零二一年七月十二日 466,267.56 0.052890 24,660.89 2020 二零二零年 24th July 2019 二零一九年七月二十四日 6th August 2019 二零一九年八月六日 5,235,321.34 0.054666 286,194.08 28th August 2019 二零一九年八月二十八日 9th September 2019 二零一九年九月九日 2,796,424.67 0.053340 149,161.29 25th September 2019 二零一九年九月二十五日 8th October 2019 二零一九年十月八日 2,796,031.84 0.053856 150,583.09 30th October 2019 二零一九年十月三十日 12th November 2019 二零一九年十一月十二日 2,790,488.85 0.054240 151,356.12 27th November 2019 二零一九年十一月二十七日 10th December 2019 二零一九年十二月十日 2,790,488.85 0.048404 135,070.82 18th December 2019 二零一九年十二月十八日 2nd January 2020 二零二零年一月二日 2,790,488.85 0.048236 134,602.02 29th January 2020 二零二零年一月二十九日 10th February 2020 二零二零年二月十日 2,784,640.15 0.048730 135,695.51 26th February 2020 二零二零年二月二十六日 9th March 2020 二零二零年三月九日 2,784,640.15 0.047578 132,487.61 25th March 2020 二零二零年三月二十五日 7th April 2020 二零二零年四月七日 2,784,640.15 0.039534 110,087.96 22nd April 2020 二零二零年四月二十二日 6th May 2020 二零二零年五月六日 2,777,548.03 0.043699 121,376.07 27th May 2020 二零二零年五月二十七日 9th June 2020 二零二零年六月九日 2,771,963.55 0.044968 124,649.66 30th June 2020 二零二零年六月三十日 10th July 2020 二零二零年七月十日 2,771,963.55 0.046141 127,901.17 8. 派息（续） (b) 收息份额（续） 施罗德亚洲高息股债基金 124 Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) USD Class X 美元X类别份额 Record date 纪录日 Payment date 派息日 No. of units entitled distributions 有权收取派息 之份额 Distribution per unit 每份额 派息额 US$ 美元 Total distribution amount 总派息额 US$ 美元 2021 二零二一年 29th July 2020 二零二零年七月二十九日 10th August 2020 二零二零年八月十日 72,878.74 0.056728 4,134.27 26th August 2020 二零二零年八月二十六日 8th September 2020 二零二零年九月八日 74,101.52 0.057400 4,253.43 23rd September 2020 二零二零年九月二十三日 9th October 2020 二零二零年十月九日 79,195.61 0.056185 4,449.61 28th October 2020 二零二零年十月二十八日 9th November 2020 二零二零年十一月九日 82,195.44 0.056080 4,609.52 25th November 2020 二零二零年十一月二十五日 7th December 2020 二零二零年十二月七日 104,909.23 0.058757 6,164.15 16th December 2020 二零二零年十二月十六日 7th January 2021 二零二一年一月七日 113,037.59 0.059783 6,757.73 27th January 2021 二零二一年一月二十七日 8th February 2021 二零二一年二月八日 128,293.82 0.062604 8,031.71 24th February 2021 二零二一年二月二十四日 8th March 2021 二零二一年三月八日 141,821.50 0.063071 8,944.82 24th March 2021 二零二一年三月二十四日 7th April 2021 二零二一年四月七日 164,263.07 0.062046 10,191.87 28th April 2021 二零二一年四月二十八日 10th May 2021 二零二一年五月十日 166,900.24 0.063320 10,568.12 26th May 2021 二零二一年五月二十六日 7th June 2021 二零二一年六月七日 173,651.20 0.062498 10,852.85 30th June 2021 二零二一年六月三十日 12th July 2021 二零二一年七月十二日 189,781.29 0.062684 11,896.25 2020 二零二零年 24th July 2019 二零一九年七月二十四日 6th August 2019 二零一九年八月六日 82.90 0.066579 5.52 28th August 2019 二零一九年八月二十八日 9th September 2019 二零一九年九月九日 83.26 0.064844 5.40 25th September 2019 二零一九年九月二十五日 8th October 2019 二零一九年十月八日 83.60 0.065405 5.47 30th October 2019 二零一九年十月三十日 12th November 2019 二零一九年十一月十二日 83.95 0.065783 5.52 27th November 2019 二零一九年十一月二十七日 10th December 2019 二零一九年十二月十日 84.30 0.058640 4.94 18th December 2019 二零一九年十二月十八日 2nd January 2020 二零二零年一月二日 17,080.08 0.058418 997.78 29th January 2020 二零二零年一月二十九日 10th February 2020 二零二零年二月十日 24,779.62 0.058921 1,460.04 26th February 2020 二零二零年二月二十六日 9th March 2020 二零二零年三月九日 27,393.49 0.057465 1,574.17 25th March 2020 二零二零年三月二十五日 7th April 2020 二零二零年四月七日 35,041.96 0.047697 1,671.40 22nd April 2020 二零二零年四月二十二日 6th May 2020 二零二零年五月六日 36,647.01 0.052665 1,930.01 27th May 2020 二零二零年五月二十七日 9th June 2020 二零二零年六月九日 39,879.33 0.054121 2,158.31 30th June 2020 二零二零年六月三十日 10th July 2020 二零二零年七月十日 80,711.22 0.055458 4,476.08 8. 派息（续） (b) 收息份额（续） 125 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) AUD Hedged Class A 澳元对冲A类别份额 Record date 纪录日 Payment date 派息日 No. of units entitled distributions 有权收取派息 之份额 Distribution per unit 每份额 派息额 AU$ 澳元 Total distribution amount 总派息额 AU$ 澳元 2021 二零二一年 29th July 2020 二零二零年七月二十九日 10th August 2020 二零二零年八月十日 64,423,729.95 0.034857 2,245,617.95 26th August 2020 二零二零年八月二十六日 8th September 2020 二零二零年九月八日 63,240,491.74 0.035256 2,229,606.78 23rd September 2020 二零二零年九月二十三日 9th October 2020 二零二零年十月九日 62,014,337.66 0.034492 2,138,998.53 28th October 2020 二零二零年十月二十八日 9th November 2020 二零二零年十一月九日 60,324,217.11 0.034427 2,076,781.82 25th November 2020 二零二零年十一月二十五日 7th December 2020 二零二零年十二月七日 59,454,107.84 0.037950 2,256,283.39 16th December 2020 二零二零年十二月十六日 7th January 2021 二零二一年一月七日 58,825,459.88 0.038589 2,270,015.67 27th January 2021 二零二一年一月二十七日 8th February 2021 二零二一年二月八日 54,950,035.08 0.040342 2,216,794.32 24th February 2021 二零二一年二月二十四日 8th March 2021 二零二一年三月八日 53,345,197.43 0.040624 2,167,095.30 24th March 2021 二零二一年三月二十四日 7th April 2021 二零二一年四月七日 53,222,502.65 0.039917 2,124,482.64 28th April 2021 二零二一年四月二十八日 10th May 2021 二零二一年五月十日 53,521,732.25 0.040713 2,179,030.29 26th May 2021 二零二一年五月二十六日 7th June 2021 二零二一年六月七日 53,641,402.43 0.038151 2,046,473.14 30th June 2021 二零二一年六月三十日 12th July 2021 二零二一年七月十二日 52,455,264.35 0.038270 2,007,462.97 2020 二零二零年 24th July 2019 二零一九年七月二十四日 6th August 2019 二零一九年八月六日 64,283,673.21 0.032991 2,120,782.66 28th August 2019 二零一九年八月二十八日 9th September 2019 二零一九年九月九日 64,018,644.70 0.032122 2,056,406.91 25th September 2019 二零一九年九月二十五日 8th October 2019 二零一九年十月八日 63,132,623.04 0.030389 1,918,537.28 30th October 2019 二零一九年十月三十日 12th November 2019 二零一九年十一月十二日 63,746,533.23 0.030548 1,947,329.10 27th November 2019 二零一九年十一月二十七日 10th December 2019 二零一九年十二月十日 63,359,067.11 0.028251 1,789,957.00 18th December 2019 二零一九年十二月十八日 2nd January 2020 二零二零年一月二日 62,783,217.76 0.028139 1,766,656.96 29th January 2020 二零二零年一月二十九日 10th February 2020 二零二零年二月十日 67,106,464.84 0.028371 1,903,877.51 26th February 2020 二零二零年二月二十六日 9th March 2020 二零二零年三月九日 66,644,500.14 0.027674 1,844,319.90 25th March 2020 二零二零年三月二十五日 7th April 2020 二零二零年四月七日 65,887,463.62 0.027770 1,829,694.86 22nd April 2020 二零二零年四月二十二日 6th May 2020 二零二零年五月六日 66,361,847.03 0.032428 2,151,981.98 27th May 2020 二零二零年五月二十七日 9th June 2020 二零二零年六月九日 67,344,552.89 0.033303 2,242,775.64 30th June 2020 二零二零年六月三十日 10th July 2020 二零二零年七月十日 64,635,380.73 0.034100 2,204,066.48 8. 派息（续） (b) 收息份额（续） 施罗德亚洲高息股债基金 126 Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) AUD Hedged Class C 澳元对冲C类别份额 Record date 纪录日 Payment date 派息日 No. of units entitled distributions 有权收取派息 之份额 Distribution per unit 每份额 派息额 AU$ 澳元 Total distribution amount 总派息额 AU$ 澳元 2021 二零二一年 29th July 2020 二零二零年七月二十九日 10th August 2020 二零二零年八月十日 222,462.90 0.035907 7,987.98 26th August 2020 二零二零年八月二十六日 8th September 2020 二零二零年九月八日 222,466.26 0.036339 8,084.20 23rd September 2020 二零二零年九月二十三日 9th October 2020 二零二零年十月九日 222,469.68 0.035571 7,913.47 28th October 2020 二零二零年十月二十八日 9th November 2020 二零二零年十一月九日 222,473.06 0.035531 7,904.69 25th November 2020 二零二零年十一月二十五日 7th December 2020 二零二零年十二月七日 222,476.38 0.039187 8,718.18 16th December 2020 二零二零年十二月十六日 7th January 2021 二零二一年一月七日 222,479.95 0.039864 8,868.94 27th January 2021 二零二一年一月二十七日 8th February 2021 二零二一年二月八日 222,483.46 0.041710 9,279.79 24th February 2021 二零二一年二月二十四日 8th March 2021 二零二一年三月八日 267,987.07 0.042049 11,268.59 24th March 2021 二零二一年三月二十四日 7th April 2021 二零二一年四月七日 267,990.79 0.041343 11,079.54 28th April 2021 二零二一年四月二十八日 10th May 2021 二零二一年五月十日 254,979.57 0.042186 10,756.57 26th May 2021 二零二一年五月二十六日 7th June 2021 二零二一年六月七日 254,983.27 0.039552 10,085.10 30th June 2021 二零二一年六月三十日 12th July 2021 二零二一年七月十二日 254,986.76 0.039705 10,124.25 2020 二零二零年 24th July 2019 二零一九年七月二十四日 6th August 2019 二零一九年八月六日 37,375.70 0.033726 1,260.53 28th August 2019 二零一九年八月二十八日 9th September 2019 二零一九年九月九日 96,312.55 0.032857 3,164.54 25th September 2019 二零一九年九月二十五日 8th October 2019 二零一九年十月八日 96,315.25 0.031101 2,995.50 30th October 2019 二零一九年十月三十日 12th November 2019 二零一九年十一月十二日 134,640.42 0.031280 4,211.55 27th November 2019 二零一九年十一月二十七日 10th December 2019 二零一九年十二月十日 134,643.02 0.028945 3,897.24 18th December 2019 二零一九年十二月十八日 2nd January 2020 二零二零年一月二日 134,645.46 0.028842 3,883.44 29th January 2020 二零二零年一月二十九日 10th February 2020 二零二零年二月十日 238,331.21 0.029132 6,943.06 26th February 2020 二零二零年二月二十六日 9th March 2020 二零二零年三月九日 238,333.66 0.028433 6,776.54 25th March 2020 二零二零年三月二十五日 7th April 2020 二零二零年四月七日 238,336.18 0.028549 6,804.26 22nd April 2020 二零二零年四月二十二日 6th May 2020 二零二零年五月六日 238,339.08 0.033354 7,949.56 27th May 2020 二零二零年五月二十七日 9th June 2020 二零二零年六月九日 222,456.41 0.034263 7,622.02 30th June 2020 二零二零年六月三十日 10th July 2020 二零二零年七月十日 222,459.59 0.035107 7,809.89 8. 派息（续） (b) 收息份额（续） 127 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) RMB Hedged Class A 人民币对冲A类别份额 Record date 纪录日 Payment date 派息日 No. of units entitled distributions 有权收取派息 之份额 Distribution per unit 每份额 派息额 RMB 人民币 Total distribution amount 总派息额 RMB 人民币 2021 二零二一年 29th July 2020 二零二零年七月二十九日 10th August 2020 二零二零年八月十日 38,298,137.93 0.449843 17,228,149.26 26th August 2020 二零二零年八月二十六日 8th September 2020 二零二零年九月八日 37,794,779.00 0.493312 18,644,618.02 23rd September 2020 二零二零年九月二十三日 9th October 2020 二零二零年十月九日 37,502,398.02 0.482919 18,110,620.55 28th October 2020 二零二零年十月二十八日 9th November 2020 二零二零年十一月九日 36,641,257.87 0.482611 17,683,474.10 25th November 2020 二零二零年十一月二十五日 7th December 2020 二零二零年十二月七日 35,983,411.86 0.564068 20,297,091.16 16th December 2020 二零二零年十二月十六日 7th January 2021 二零二一年一月七日 35,862,184.60 0.573604 20,570,692.54 27th January 2021 二零二一年一月二十七日 8th February 2021 二零二一年二月八日 35,600,946.62 0.559086 19,903,990.84 24th February 2021 二零二一年二月二十四日 8th March 2021 二零二一年三月八日 35,491,326.34 0.604979 21,471,507.12 24th March 2021 二零二一年三月二十四日 7th April 2021 二零二一年四月七日 36,095,377.05 0.594971 21,475,702.58 28th April 2021 二零二一年四月二十八日 10th May 2021 二零二一年五月十日 36,691,312.28 0.607556 22,292,026.92 26th May 2021 二零二一年五月二十六日 7th June 2021 二零二一年六月七日 37,335,971.13 0.599312 22,375,895.53 30th June 2021 二零二一年六月三十日 12th July 2021 二零二一年七月十二日 38,173,595.46 0.601026 22,943,323.38 2020 二零二零年 24th July 2019 二零一九年七月二十四日 6th August 2019 二零一九年八月六日 39,077,837.68 0.439633 17,179,907.01 28th August 2019 二零一九年八月二十八日 9th September 2019 二零一九年九月九日 38,966,840.50 0.468992 18,275,136.46 25th September 2019 二零一九年九月二十五日 8th October 2019 二零一九年十月八日 39,281,133.67 0.472884 18,575,419.61 30th October 2019 二零一九年十月三十日 12th November 2019 二零一九年十一月十二日 39,777,172.44 0.475586 18,917,466.33 27th November 2019 二零一九年十一月二十七日 10th December 2019 二零一九年十二月十日 39,828,065.32 0.450556 17,944,773.80 18th December 2019 二零一九年十二月十八日 2nd January 2020 二零二零年一月二日 40,334,537.63 0.448475 18,089,031.76 29th January 2020 二零二零年一月二十九日 10th February 2020 二零二零年二月十日 41,466,940.13 0.452263 18,753,962.74 26th February 2020 二零二零年二月二十六日 9th March 2020 二零二零年三月九日 41,217,799.89 0.440961 18,175,442.26 25th March 2020 二零二零年三月二十五日 7th April 2020 二零二零年四月七日 40,306,097.15 0.366213 14,760,616.76 22nd April 2020 二零二零年四月二十二日 6th May 2020 二零二零年五月六日 40,201,400.52 0.365045 14,675,320.25 27th May 2020 二零二零年五月二十七日 9th June 2020 二零二零年六月九日 40,267,546.59 0.375029 15,101,497.73 30th June 2020 二零二零年六月三十日 10th July 2020 二零二零年七月十日 39,432,221.46 0.439656 17,336,612.76 8. 派息（续） (b) 收息份额（续） 施罗德亚洲高息股债基金 128 Notes to the Financial Statements 财务报表之注釋 8. DISTRIBUTIONS (Continued) (b) Distribution units (Continued) GBP Hedged Class A 英镑对冲A类别份额 Record date 纪录日 Payment date 派息日 No. of units entitled distributions 有权收取派息 之份额 Distribution per unit 每份额 派息额 GBP 英镑 Total distribution amount 总派息额 GBP 英镑 2021 二零二一年 29th July 2020 二零二零年七月二十九日 10th August 2020 二零二零年八月十日 851,970.62 0.034086 29,040.27 26th August 2020 二零二零年八月二十六日 8th September 2020 二零二零年九月八日 893,552.99 0.034475 30,805.24 23rd September 2020 二零二零年九月二十三日 9th October 2020 二零二零年十月九日 896,840.78 0.033718 30,239.68 28th October 2020 二零二零年十月二十八日 9th November 2020 二零二零年十一月九日 849,097.29 0.033664 28,584.01 25th November 2020 二零二零年十一月二十五日 7th December 2020 二零二零年十二月七日 788,172.91 0.035240 27,775.21 16th December 2020 二零二零年十二月十六日 7th January 2021 二零二一年一月七日 853,232.39 0.035878 30,612.27 27th January 2021 二零二一年一月二十七日 8th February 2021 二零二一年二月八日 1,080,742.96 0.037563 40,595.95 24th February 2021 二零二一年二月二十四日 8th March 2021 二零二一年三月八日 1,242,641.80 0.037839 47,020.32 24th March 2021 二零二一年三月二十四日 7th April 2021 二零二一年四月七日 1,451,704.14 0.037221 54,033.88 28th April 2021 二零二一年四月二十八日 10th May 2021 二零二一年五月十日 1,619,549.85 0.037983 61,515.36 26th May 2021 二零二一年五月二十六日 7th June 2021 二零二一年六月七日 1,714,624.10 0.037485 64,272.68 30th June 2021 二零二一年六月三十日 12th July 2021 二零二一年七月十二日 1,883,037.49 0.037613 70,826.69 2020 二零二零年 24th July 2019 二零一九年七月二十四日 6th August 2019 二零一九年八月六日 451,500.12 0.029800 13,454.70 28th August 2019 二零一九年八月二十八日 9th September 2019 二零一九年九月九日 525,888.70 0.029007 15,254.45 25th September 2019 二零一九年九月二十五日 8th October 2019 二零一九年十月八日 590,979.92 0.029264 17,294.44 30th October 2019 二零一九年十月三十日 12th November 2019 二零一九年十一月十二日 570,281.18 0.029428 16,782.23 27th November 2019 二零一九年十一月二十七日 10th December 2019 二零一九年十二月十日 569,701.76 0.027071 15,422.40 18th December 2019 二零一九年十二月十八日 2nd January 2020 二零二零年一月二日 615,378.28 0.026971 16,597.37 29th January 2020 二零二零年一月二十九日 10th February 2020 二零二零年二月十日 814,723.02 0.027186 22,149.06 26th February 2020 二零二零年二月二十六日 9th March 2020 二零二零年三月九日 801,789.57 0.026520 21,263.46 25th March 2020 二零二零年三月二十五日 7th April 2020 二零二零年四月七日 804,988.14 0.026958 21,700.87 22nd April 2020 二零二零年四月二十二日 6th May 2020 二零二零年五月六日 814,390.41 0.031669 25,790.93 27th May 2020 二零二零年五月二十七日 9th June 2020 二零二零年六月九日 793,274.66 0.032540 25,813.16 30th June 2020 二零二零年六月三十日 10th July 2020 二零二零年七月十日 793,971.76 0.033339 26,470.22 8. 派息（续） (b) 收息份额（续） 129 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 9. TRANSACTIONS WITH RELATED PARTIES AND CONNECTED PERSONS In addition to the management fee and trustee fee disclosed in note 7 and uncommitted bank overdraft facilities disclosed in note 14 to the financial statements, the Fund had the following transactions with its related parties, Manager, Trustee and the connected persons of the Manager or Trustee. Connected persons of the are those as defined in the Code on Unit Trusts and Mutual Funds established by the SFC. All transactions with related parties and connected persons were entered into in the ordinary course of business and on normal commercial terms. (a) As at 30th June 2021, the Fund placed bank deposits amounted t o H K $ 1 , 0 7 3 , 0 5 7 , 1 2 0 ( 2 0 2 0 : HK$1,164,773,292) with The Hongkong and Shanghai Banking Corporation Limited, Hong Kong, a related company of the Trustee and Registrar. Bank interest income amounted to HK$20,037 (2020: HK$5,669,941) has been earned by the Fund. (b) As at 30th June 2021, the Fund placed investments amounting t o H K $ 2 9 , 9 0 3 , 8 0 8 , 0 7 5 ( 2 0 2 0 : HK$28,148,087,819) with the Trustee and Registrar. (c) During the year ended 30th June 2021, transaction handling fees on purchases and sales of investments, amounting to HK$409,848 (2020: HK$211,632) were charged by the Trustee. 9. 连系人及关连人士之交易 除载于财务报表注釋7之管理费用及受托人 费用外及注釋14之非承诺性的透支额度，基 金与其连系人、基金管理人、受托人及基金 管理人或受托人的关连人士之交易如下。基 金管理人及受托人的关连人士是根据香港证 券及期货事监察委员会所颁布的份额信托及 互惠基金守则（「证监会守则」）中的定义。所 有与其连系人及关连人士之交易乃按商业条 款进行，并为一般经常性业务。 (a) 截至二零二一年六月三十日，基金存 放总值 1,073,057,120 港元（二零二零 年：1,164,773,292 港 元 ）银 行 存 款 于 与受托人及注册登记机构有关连之The Hongkong and Shanghai Banking Corporation Limited, Hong Kong。本 基金有收取银行利息收益总值20,037港 元（二零二零年：5,669,941港元）。 (b) 截至二零二一年六月三十日，基金存放 总 值 29,903,808,075 港 元（ 二 零 二 零 年：28,148,087,819港元）投资于受托 人及注册登记机构之代理人。 (c) 截至二零二一年六月三十日止年度，买 卖证券的交易手续费为409,848港元（二 零二零年：211,632港元）。此费用支付 予受托人。 施罗德亚洲高息股债基金 130 Notes to the Financial Statements 财务报表之注釋 9. TRANSACTIONS WITH RELATED PARTIES AND CONNECTED PERSONS (Continued) (d) During the year ended 30th June 2021, the net registrar’s cost amounting to HK$57,803,696 was paid to the Manager and the Manager paid the service fee to The Hongkong and Shanghai Banking Corporation Limited, Hong Kong, the registrar’s service provider of the Fund. During the year ended 30th June 2020, the net registrar’s cost amounting to HK$62,347,174 was paid to the Manager and the Manager paid the service fee to HSBC Continental Europe, Luxembourg (formerly known as HSBC France, Luxembourg Branch), the registrar’s service providers of the Fund. (e) During the year ended 30th June 2021, the Fund has incurred interest expense amounting to HK$186 (2020: HK$940) and paid to the connected person of the Trustee. (f) During the year ended 30th June 2021, the Fund has incurred safe custody and bank charges amounting to HK$4,825,568 (2020: HK$4,937,650) and paid to the connected person of the Trustee. (g) During the year ended 30th June 2021, the Fund has not incurred legal and other professional fees (2020: HK$23,000) paid to the connected person of the Trustee. 9. 连系人及关连人士之交易（续） (d) 截至二零二一年六月三十日止年度，注 册登记机构费用为57,803,696 港元。 此费用支付予基金管理人。基金管理 人支付服务费予注册登记机构服务提 供者－The Hongkong and Shanghai Banking Corporation Limited, Hong Kong。截至二零二零年六月三十日止 年度,注册登记机构费用为62,347,174 港元。此费用支付予基金管理人。基金 管理人支付服务费予注册登记机构服务 提供者－HSBC Continental Europe, Luxembourg（前称为HSBC France, Luxembourg Branch）。 (e) 截至二零二一年六月三十日止年度，利 息支出费用为186港元（二零二零年： 940港元）用支付予受托人之关连人士。 (f) 截至二零二一年六月三十日止年度，代 管费用及银行费用为 4,825,568港元（二 零二零年：4,937,650港元）此费用支付 予受托人之关连人士。 (g) 截至二零二一年六月三十日止年度， 本基金没有法律及专业费用（二零二零 年：23,000港元）。此费用支付予受托 人之关连人士。 131 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 9. TRANSACTIONS WITH RELATED PARTIES AND CONNECTED PERSONS (Continued) (h) During the year ended 30th June 2021, the Fund has incurred miscellaneous service expenses amounting to HK$2,226,891 (2020: HK$2,174,607) and paid to the connected person of the Trustee. (i) As at 30th June 2021, the Fund held investments in debt securities issued by entities within HSBC Holdings Plc, which are the connected persons of the Trustee, amounting to HK$25,137,338 (2020: Nil). During the year ended 30th June 2021, interest on debt securities amounted to HK$1,254,913 (2020: Nil) has been earned by the Fund from its investment in the connected persons of the Trustee. (j) As at 30th June 2021, the Fund held investments in unit trusts/mutual funds which are managed by the Manager or other companies under the same group of the Manager, amounting to HK$3,356,280,508 (2020: HK$2,558,835,462). 9. 连系人及关连人士之交易（续） (h) 截至二零二一年六月三十日止年度，杂 项服务费用为2,226,891港元（二零二零 年：2,174,607港元）。此费用支付予受 托人之关连人士。 (i) 截至二零二一年六月三十日，本基金投 资于发行机构为受托人之关连人士的债 务证券为25,137,338港元（二零二零年： 无）。截至二零二一年六月三十日止年 度， 本 基 金 收 取 债 务 证 券 利 息 为 1,254,913港元（二零二零年：无）。 (j) 截至二零二一年六月三十日，本基金在 由基金管理人或该基金管理人所属集团 旗下其他公司管理的份额信托中持有投 资为3,356,280,508港元（二零二零年： 2,558,835,462港元）。 施罗德亚洲高息股债基金 132 Notes to the Financial Statements 财务报表之注釋 9. TRANSACTIONS WITH RELATED PARTIES AND CONNECTED PERSONS (Continued) (k) During the years ended 30th June 2021 and 2020, the Fund has incurred brokerage commission expense paid to the connected persons of the Trustee for its brokerage services. Investment transactions with this entity is set out below: Aggregate value of purchases and sales of investments 买卖投资总值 占本年内基金 投资总值百分比 % of the Fund’s total aggregate value of transactions during the year 占本年内基金 投资及期货总值 百分比 Brokerage commission paid 已付经纪佣金 Average rate of commission % 经纪佣金 平均值百分比 HK$ 港元 HK$ 港元 2021 二零二一年 321,435,821 0.95 314,350 0.10 2020 二零二零年 185,894,227 0.46 297,812 0.16 (l) During the years ended 30th June 2021 and 2020, the Manager and its connected persons subscribed and redeemed units of the Fund. 9. 连系人及关连人士之交易（续） (k) 截至二零二一年及二零二零年六月三十 日止年度，基金支付经纪佣金费用予受 托人之有关连人士。相关投资交易列载 如下： (l) 截至二零二一年及二零二年六月三十日 止年度，基金管理人及其关连人士认购 和赎回本基金。 133 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 9. TRANSACTIONS WITH RELATED PARTIES AND CONNECTED PERSONS (Continued) (m) During the year ended 30th June 2021, the Fund entered into foreign exchange forward contracts with The Hongkong and Shanghai Banking Corporation Limited, Hong Kong and The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, connected persons of the Trustee, with realised gains amounting to HK$1,079,284,818, and realised losses amounting to HK$25,211,677 respectively. During the year ended 30 June 2020, the Fund entered into foreign exchange forward contracts with The Hongkong and Shanghai Banking Corporation Limited, Hong Kong, The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch and HSBC Bank (Taiwan) Limited, connected persons of the Trustee, with realised losses amounting to HK$220,486,487, HK$30,961,842 and HK$3,062,690 respectively. As at 30th June 2021, the Fund held outstanding foreign exchange forward contracts as financial assets amounting to HK$1,131,371 (2020: HK$43,675,700) and financial liabilities amounting to HK$171,366,759 (2020: HK$1,980,002) with The Hongkong and Shanghai Banking Corporation Limited, Hong Kong. 9. 连系人及关连人士之交易（续） (m) 截至二零二一年六月三十日止年度，本 基 金 通 过 The Hongkong and Shanghai Banking Corporation Limited, Hong Kong及The Hongkong and Shanghai Banking Corporation, Singapore Branch受托人的关连人士， 订 立 远 期 外 汇 合 约， 已 变 现 收 益 为 1,079,284,818 港 元 及 已 变 现 亏 损 为 25,211,677 港元。于二零二零年六月 三十日，本基金通过The Hongkong and Shanghai Banking Corporation Limited, Hong Kong，The Hongkong and Shanghai Banking Corporation, Singapore Branch 及 HSBC Bank (Taiwan) Limited，受托人的关连人 士，已变现亏损为220,486,487港元， 30,961,842港元及3,062,690港元。截 至二零二一年六月三十日止年度，本基 金通过The Hongkong and Shanghai Banking Corporation Limited, Hong Kong持有归类为金融资产外汇合约金 额 为 1,131,371 港 元（ 二 零 二 零 年： 43,675,700港元），金融负债的远期外 汇合约金额为171,366,759港元（二零 二零年：1,980,002港元）。 施罗德亚洲高息股债基金 134 Notes to the Financial Statements 财务报表之注釋 9. TRANSACTIONS WITH RELATED PARTIES AND CONNECTED PERSONS (Continued) (n) As at 30th June 2021 and 2020, the Fund did not hold any investment in the connected persons of the Trustee. During the year ended 30th June 2021, no gain or loss (2020: net losses of HK$65,801,958) was recognised from its investment in HSBC Holdings Plc, the connect person of the Trustee. During the year ended 30th June 2021, no dividend (2020: HK$2,339,150) was received from its investment in HSBC Holdings Plc, the connect person of the Trustee. 10. TAXATION (a) Hong Kong Tax No provision for Hong Kong profits tax has been made as the Fund is exempt from Hong Kong profits tax under Section 26A of the Hong Kong Inland Revenue Ordinance. (b) Mainland China Tax The Fund invests in shares of companies in mainland China listed on overseas stock exchanges including the H-shares listed on the Hong Kong Stock Exchange (“H-shares”). Under the mainland China Corporate Income Tax Law, the Fund may be liable to pay mainland China tax on the capital gains realised in the trading of H-shares. However, no provision was made for taxation from such gains in the financial statements as the Trustee and the Manager believe that the Fund can sustain a position for not filing a tax return based on the existing tax regulations and that the enforcement of mainland China tax on capital gains is not probable. 9. 连系人及关连人士之交易（续） (n) 截至二零二一年及二零二零年六月三十 日，本基金并无持有受托人的关连人士 之投资。截至二零二一年六月三十日止 年度，本基金所持受托人的关连人士之 投资并无确认任何收益或亏损（二零二零 年：65,801,958港元亏损）。 截至二零二一年六月三十日止年度，本 基金并无从与受托人的关连人士之投资 获得股利（二零二零年：2,339,150 港 元）。 10. 税项 (a) 香港税项 根据香港税务条例第26A条本基金已获豁免 缴纳香港利得税，因此并无税项拨备。 (b) 中国内地税项 本基金投资于在海外证券交易所上市的中国 内地企业的股份，当中包括在香港联合交易 所上市的H股（「H股」）。根据中国内地企业 所得税法，本基金或须就买卖H股所得的资 本收益缴付中国内地税项。然而，由于受托 人及基金经理相信，本基金可根据目前的税 务规例维持无需呈交报税表，且中国不大可 能会就资本收益征收税项，故此本财务报表 并无就此等收益的税项计提准备。 135 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 10. TAXATION (Continued) (c) India Tax The Fund invests in securities listed in India since 15th August 2019. Under the provisions of the Indian Income Tax Act, 1961 (“ITA”) prevailing as on 30th June 2021 and the interpretations there from, a person (other than an individual and a company) (including the Fund) is not considered as resident in India for the purposes of ITA, if control and management of its affairs is situated wholly outside India during the relevant Indian tax year i.e. year ending 31st March. The Trustee and the Manager (the “Management”) consider that the control and management of the Fund’s affairs is situated wholly outside India during the Indian tax years ending 31st March 2021 and 2020 and including the period from 1st April 2021 to 30th June 2021 and therefore, the Fund should not be considered as resident in India for the purposes of ITA during the said year and period. Accordingly, the Fund is considered as a non-resident in India for the purposes of ITA. The Fund has obtained a tax ID (called Permanent Account Number or PAN) issued by the Indian Income Tax Department. Subject to provisions of the India – Hong Kong tax treaty, the Fund is liable to pay income tax on its total income chargeable to tax under the provisions of ITA and the provisions of relevant Indian Finance Acts. The Fund is also subject to other compliances e.g. Filing of return of income as per the provisions of the ITA. 10. 税项（续） (c) 印度税项 本基金自二零一九年八月十五日起投资于印 度上市的证券。根据于二零二一年六月三十 日生效印度所得税法（一九六一年）（「ITA」） 的条文及其诠释，任何人士（个人及公司除 外）（包括本基金）并不被视为就ITA而言的印 度居民，前题是控制和管理其事务的行为于 印度相关税务年度（即截至三月三十一日止 年度）完全在印度境外进行。受托人和基金 管理人（管理层）认为，本基金控制和管理其 事务的行为于截至二零二一年及二零二零年 三月三十一日止印度税务年度及包括由二零 二一年四月一日至二零二一年六月三十日止 期间完全位于印度境外进行，因此，本基金 于上述年度及期间不应被视为就ITA而言的 印度居民。因此，本基金被视为就ITA而言 的非印度居民。本基金已获得由印度所得税 部门颁发税务ID（称为永久账号或PAN）。根 据印度香港税务协定的条文，本基金按ITA 的条文及印度相关金融法的条文须从应课税 总收益缴纳所得税。本基金亦受其他规则限 制，如根据ITA的条文提交报税表。 施罗德亚洲高息股债基金 136 Notes to the Financial Statements 财务报表之注釋 10. TAXATION (Continued) (c) India Tax (Continued) As the Fund is a Foreign Portfolio Investor which has made investment in securities in accordance with the regulations made under the Securities and Exchange Board of India Act, 1992, investments made by the Fund in listed securities in India should be classified as capital assets and any gains or losses arising from transfer of such listed securities should be chargeable to income tax under the heading “Capital Gains”. The capital gains arising from the transfer of listed securities in India is classified into short-term and long-term capital gains or losses on the basis of the holding period of the listed securities. Gains arising from the transfer of a security listed in recognised stock exchange in India, if held for more than twelve months are classified as long term capital gains; and if held for not more than twelve months are classified as short term capital gains. Prior to 1st April 2018, long term capital gains arising on transfer of listed equity shares, where certain conditions (e.g. such transaction is chargeable to securities transaction tax) were fulfilled were generally exempt from income tax in India. However, effective 1st April 2018 the ITA has been amended and such long-term capital gains are subject to income tax at the rate of 10% (plus applicable surcharge and applicable health and education cess). The ITA allows grandfathering of gains accrued until 31st January 2018. 10. 税项（续） (c) 印度税项（续） 由于本基金为外资投资组合投资者，按照印 度证券交易委员会法（一九九二年）的规定投 资证券，本基金对印度上市证券的投资应分 类为资本资产和因转让这类上市证券所产生 的任何损益须在标题为「资本收益」下列作应 缴付所得税。因转让印度上市证券所产生的 资本收益根据持有上市证券的期间，分类为 短期和长期资本收益或亏损。就于印度认可 证券交易所转让上市证券所产生的收益，如 果持有超过十二个月，则分类为长期资本收 益，如果持有时间不超过十二个月，则分类 为短期资本收益。于二零一八年四月一日 前，因转让上市公司股票所产生的长期资本 收益，在符合若干条件（如此类交易应缴付 证券交易税)的情况下，一般获豁免缴付印 度所得税。然而，自二零一八年四月一日生 效起，ITA已予修订，且长期资本收益须按 税率10%缴纳所得税（再加上适用的附加费 和适用的健康及教育税）。ITA 允许追溯处理 截至二零一八年一月三十一日的积累收益。 137 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 This benefit is enabled by providing a cost step up for the shares held on 31st January 2018 by replacing the original cost of acquisition with the lower of the market value of the shares as on 31st January 2018 or the sale consideration. Short term capital gains arising on listed equity shares, units of equity oriented mutual funds, units of real estate investment trust and units of infrastructure investment trusts are subject to income tax at the rate of 15% (plus applicable surcharge and applicable health and education cess) provided the transactions are subject to securities transaction tax (“STT”). Short term capital gains arising from transfer of other securities are taxed at 30% (plus applicable surcharge and applicable health and education cess). Prior to 1st April 2020, an Indian company was required to pay Dividend Distribution Tax (DDT) at a rate of 15% (plus applicable surcharge and applicable health and education cess) on gross dividend amount including DDT on any amount declared, distributed or paid by way of dividends, whether out of current or accumulated profits and such dividend income was exempt in the hands of the shareholders. However, effective 1st April 2020 the ITA has been amended and DDT has been abolished. Dividends, which were hitherto exempt from tax are now taxable in the hands of the shareholder at the applicable tax rate plus applicable surcharge and applicable health and education cess. 10. TAXATION (Continued) (c) India Tax (Continued) 10. 税项（续） (c) 印度税项（续） 透过将原来收购的最初成本以于二零一八年 一月三十一日持有股份的市值或出售代价中 的较低者代替，从而为于二零一八年一月 三十一日持有的股份提供成本递增，以实现 该收益。由上市股票、股票互惠基金份额、 房地产投资信托份额及基建投资信托份额所 产生的短期资本收益须按15%的税率（再加 上适用的附加费和适用的健康及教育税）征 收利得税，前提是交易须缴纳证券交易税 （「STT」）。自其他证券转移所产生的短期资 本收益须按30%的税率（再加上适用的附加 费和适用的健康及教育税）缴纳税项。 于二零二零年四月一日前，印度公司须按 15%的税率（再加上适用的附加费和适用的 健康及教育税）以股利的总额缴付派息税 (DDT)，当中包括任何宣派、分派或以股利 方式支付的DDT数额，不论是从当期或积累 溢利提取，股东所持该等股利无须课税。然 而，自二零二零年四月一日起，ITA已被修 订，而DDT亦已被废除。股东如今须按适用 税率（再加上适用的附加费和适用的健康及 教育税）缴付以往豁免征收的税项。 施罗德亚洲高息股债基金 138 Notes to the Financial Statements 财务报表之注釋 For non-resident investors including Foreign Portfolio Investors, dividend income is subject to income tax at the rate of 20% (plus applicable surcharge and applicable health and education cess) under the ITA. In case the Fund is eligible to claim benefits under India-Hong Kong tax treaty, then dividend income could be taxable at a lower tax rate of 5% (subject to certain conditions). Further, the Finance Act 2021 has amended the relevant provisions of the ITA to provide that Indian investee company can deduct taxes at sources at the rate of (a) 20% (plus surcharge and health and education cess), or (b) the rate provided under the relevant tax treaty, whichever is lower, on, amongst other, dividend payment made to the FPI, if the FPI has furnished a tax residency certificate. The capital gains are calculated based on First in First Out (FIFO) methodology. The capital gains are calculated by reducing cost of acquisition and expenses (e.g. brokerage) incurred for the purpose of sale from the total sale consideration; however, STT is not an allowable expenditure to compute capital gains. Short term losses can be off-set against short term gains and long term gains, whereas long term loss can be off-set only against long term gains. Short term and long term capital losses cannot be off-set against dividend income. The ITA permits a taxpayer to carry forward residuary tax losses for a maximum period of 8-years to be off-set in the same manner. 就包括外资投资组合投资者的非居民投资 者，股利收益须按照 ITA 的20%税率（再加 上适用的附加费和适用的健康及教育税）缴 付所得税。倘基金为符合资格享有印度香港 税务协定的待遇，则股利收益可按5% 较低 的税率课税（须受若干条件限制）。此外，根 据二零二一年金融法，ITA的相关条文已作 修订，规定印度接受投资公司可以从源头扣 除 (a) 20%的税率（再加上适用的附加费和适 用的健康及教育税），或 (b) 由根据相关征税 协定规定的税率所缴付的税项，以较低者为 准，当中包括支付予外资投资组合投资者 (FPI)的股利（如FPI已提供税务居住证）。资 本收益乃基于「先进先出」方法计算。资本收 益透过从总出售代价扣除因出售目的而产生 收购和开支（如经纪费用）的成本所计算；然 而，STT并无非一项用以计算资本收益的可 扣税支出。短期亏损可给短期收益和长期收 益抵销，但长期亏损只能由长期收益所抵 销。短期和长期资本亏损无法以股利收益抵 销。ITA 允许纳税人以相同抵销方式将剩余 的税务亏损结转，最长期限为八年。 10. TAXATION (Continued) (c) India Tax (Continued) 10. 税项（续） (c) 印度税项（续） 139 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 H a v i n g c o n s i d e r e d i n d e p e n d e n t professional tax advice and recent market developments, Management considers that the Fund has an obligation to pay tax on net realised gains derived from trading in shares of companies listed in India. During the year ended 30th June 2021, the capital gains tax incurred from the investment in Indian securities was HK$19,810,055 (2020: Nil). As at 30th June 2021, the deferred tax liability of HK$19,857,865 (2020: Nil) was recognised in the statement of financial position. (d) Withholding Tax Withholding tax was charged on certain dividend received during the year. 经考虑独立的专业税务建议和最近市场发展 等因素后，管理层认为本基金有责任就于印 度上市公司的证券买卖而产生的已变现净收 益纳税。截至二零二一年六月三十日止年 度，就投资印度证券而产生的资本收益税为 19,810,055港元（二零二零年：无）。在二零 二一年六月三十日，于财务状况表中确认的 递延所得税负债为19,857,865港元（二零二 零年：无）。 (d) 预缴税 相关年度的预缴税于收取股利时已入账。 10. TAXATION (Continued) (c) India Tax (Continued) 10. 税项（续） (c) 印度税项（续） 施罗德亚洲高息股债基金 140 Notes to the Financial Statements 财务报表之注釋 11. NUMBER OF UNITS IN ISSUE AND NET ASSETS ATTRIBUTABLE TO UNITHOLDERS PER UNIT The Fund’s net assets attributable to unitholders is shown in the statement of financial position. Subscriptions and redemptions of units during the year are shown in the statement of changes in net assets attributable to unitholders. In order to achieve the investment objectives, the Fund endeavors to make investment in accordance with the investment policies as outlined in note 3, whilst maintaining sufficient liquidity to meet redemption requests. Such liquidity is augmented by the holding of liquid investments. In accordance with the provisions of the Fund’s Trust Deed dated 8th October 2010, as amended, and Explanatory Memorandum, investments are stated at the last traded price on the valuation day for the purpose of determining net asset value per unit for subscriptions and redemptions and for various fee calculations. Net assets attributable to unitholders represent a liability in the statement of financial position, carried at the redemption amount that would be payable at the year end date if the unitholder exercised the right to redeem the units in the Fund. 11. 已发行份额数目及分配给份额持有人每份额 净资产 本基金之分配给份额持有人净资产于财务状 况报表呈示。本年内之份额认购及赎回于基 金份额持有人应占净资产变动报表中呈示。 为达到投资目标，本基金会根据注釋3所列 明之投资政策作投资，并维持足够的资金流 通作赎回之用。此流通性会因应所有之流动 性投资而增加。 根据本基金于二零一零年十月八日订之信托 契约（经修订），本基金的投资乃以估值日之 最新交易价计算，从而计算每份额净资产， 作买卖及计算其他收费用。 分配给份额持有人净资产于财务状况报表为 负债，如份额持有人行权其赎回权利，则以 应付赎回款项呈示于年结日之财务状况报 表。 141 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 11. NUMBER OF UNITS IN ISSUE AND NET ASSETS ATTRIBUTABLE TO UNITHOLDERS PER UNIT (Continued) Number of units in issue as at 30th June 2021 and 2020: 2021 二零二一年 Units 份额 2020 二零二零年 Units 份额 HKD Class A Accumulation 港元A类别累积份额 1,366,060.39 1,635,078.71 HKD Class A Distribution 港元A类别收息份额 89,282,739.94 87,407,766.67 HKD Class C Accumulation 港元C类别累积份额 226,557.62 241,771.53 HKD Class C Distribution 港元C类别收息份额 576,532.69 560,525.85 HKD Class X Accumulation 港元X类别累积份额 67.62 67.62 HKD Class X Distribution 港元X类别收息份额 21,927.95 5,264.40 USD Class A Accumulation 美元A类别累积份额 5,874,195.55 8,711,106.87 USD Class A Distribution 美元A类别收息份额 136,810,953.19 140,638,049.94 USD Class C Accumulation 美元C类别累积份额 6,502,116.37 9,627,267.89 USD Class C Distribution 美元C类别收息份额 2,800,982.93 1,348,450.11 USD Class I Accumulation 美元I类别累积份额 861,934.20 1,320,034.13 USD Class I Distribution 美元I类别收息份额 466,267.56 2,771,963.55 USD Class X Accumulation 美元X类别累积份额 68.14 68.14 USD Class X Distribution 美元X类别收息份额 189,781.29 80,711.22 AUD Hedged Class A Distribution 澳元对冲A类别收息份额 52,455,264.35 64,635,380.73 AUD Hedged Class C Distribution 澳元对冲C类别收息份额 254,986.76 222,459.59 RMB Hedged Class A Distribution 人民币对冲A类别收息份额 38,173,595.46 39,432,221.46 RMB Hedged Class M Accumulation 人民币对冲M类别累积份额 4,112,936.27 11,010,553.35 GBP Hedged Class A Accumulation 英镑对冲A类别累积份额 59,654.14 111,488.61 GBP Hedged Class A Distribution 英镑对冲A类别收息份额 1,883,037.49 793,971.76 11. 已发行份额数目及分配给份额持有人每单 位净资产（续） 于二零二一年及二零二零年六月三十日已发 行之份额： 施罗德亚洲高息股债基金 142 Notes to the Financial Statements 财务报表之注釋 11. NUMBER OF UNITS IN ISSUE AND NET ASSETS ATTRIBUTABLE TO UNITHOLDERS PER UNIT (Continued) 2021 二零二一年 2020 二零二零年 Net assets attributable to unitholders per unit 分配给份额持有人净资产每份额计 HKD Class A Accumulation 港元A类别累积份额 HK$港元 174.1296 146.6570 HKD Class A Distribution 港元A类别收息份额 HK$港元 104.7830 92.5558 HKD Class C Accumulation 港元C类别累积份额 HK$港元 187.1604 156.4946 HKD Class C Distribution 港元C类别收息份额 HK$港元 112.6629 98.7982 HKD Class X Accumulation 港元X类别累积份额 HK$港元 173.7644 146.3287 HKD Class X Distribution 港元X类别收息份额 HK$港元 157.3165 138.9591 USD Class A Accumulation 美元A类别累积份额 US$美元 17.4604 14.7348 USD Class A Distribution 美元A类别收息份额 US$美元 10.5074 9.2998 USD Class C Accumulation 美元C类别累积份额 US$美元 16.7844 14.0621 USD Class C Distribution 美元C类别收息份额 US$美元 10.8858 9.5652 USD Class I Accumulation 美元I类别累积份额 US$美元 17.5256 14.5809 USD Class I Distribution 美元I类别收息份额 US$美元 13.3104 11.6165 USD Class X Accumulation 美元X类别累积份额 US$美元 17.4081 14.6900 USD Class X Distribution 美元X类别收息份额 US$美元 15.7753 13.9618 AUD Hedged Class A Distribution 澳元对冲A类别收息份额 AU$澳元 9.6310 8.5850 AUD Hedged Class C Distribution 澳元对冲C类别收息份额 AU$澳元 9.9922 8.8385 RMB Hedged Class A Distribution 人民币对冲A类别收息份额 RMB人民币 98.8772 87.5294 RMB Hedged Class M Accumulation人民币对冲M类别累积份额 RMB人民币 143.0670 118.4884 GBP Hedged Class A Accumulation 英镑对冲A类别累积份额 GBP英镑 11.9846 10.1036 GBP Hedged Class A Distribution 英镑对冲A类别收息份额 GBP英镑 9.9931 8.8607 12 Transaction costs Transaction costs are costs incurred to acquire/dispose financial assets or liabilities at fair value through profit or loss. They include fees and commissions paid to agents, advisers, brokers and dealers. 11. 已发行份额数目及分配给份额持有人每单 位净资产（续） 12. 交易成本 交易成本是买卖金融资产或负债所产生的成 本为按公允值透过损益列账的金融资产或负 债。其中包括支付给代理人，顾问，经纪人 及交易员的费用和佣金。 143 Schroder Asian Asset Income Fund Notes to the Financial Statements 财务报表之注釋 13. SOFT COMMISSION ARRANGEMENTS During the years ended 30th June 2021 and 2020, the Manager and its connected persons did not enter into any soft commission arrangements with brokers in relation to dealings in the assets of the Fund. 14. Uncommitted Bank overdraft facilities The Fund had arranged revolving uncommitted overdraft facilities with The Hongkong and Shanghai Bank Corporation Limited (“HSBC”). The overdraft facility amount is the lesser of US$25,000,000 or 10% of the net asset value of the Fund. The overdraft balance shall bear interest at 0.6% above HSBC’s best lending rate for USD and CNY; 2% over HSBC’s best lending rate for CAD, GBP, EUR, SGD, JPY, NZD and AUD; 1.625% below HSBC’s best lending rate for HKD. As at 30th June 2021 and 2020, there was no outstanding payable under the overdraft facility. 15. APPROVAL OF FINANCIAL STATEMENTS The financial statements of the Fund were approved by the Trustee and the Manager on 20th October 2021. 13. 非金钱收益的安排 截至二零二一年及二零二零年六月三十日止 年度内，基金管理人及关连人士并无与经纪 订立与本基金有关资产交易之非金钱收益的 安排。 14. 非承諾性的透支額度 本基金于The Hongkong and Shanghai Bank Corporation Limited “( HSBC”)安排 非承诺性的透支额度透支额度。透支额度为 25,000,000美元或本基金净资产百分之十 （以最低为准）。美元及人民币透支金额度须 承担HSBC最优惠贷款利率加百分之零点 六，加币，英镑，欧元，新加坡元，日圆， 新西兰元及澳元则为HSBC最优惠贷款利率 加百分之二；而港元则为HSBC最优惠贷款 利率减百分之一点六二五。截至二零二一年 及二零二零年六月三十日，本基金没有就非 承诺性的透支额度支付任何的利息。 15. 财务报告之批准 本账目于二零二一年十月二十日由受托人及 基金管理人批准。 施罗德亚洲高息股债基金 144 Investment Portfolio (Unaudited) 基金投资组合（未经审核） As at 30th June 2021 截至二零二一年六月三十日 Country/Territory 国家╱地区 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED EQUITIES 上市股票 AUSTRALIA 澳大利亚 3,089,260,643 9.85 ANZ Banking Group Ltd 1,812,032 297,391,534 0.95 Ausnet Services Ord Npv 45,780,267 467,090,149 1.49 Australian Stock Exchange Ltd 75,479 34,196,951 0.11 BHP Group Ltd 1,164,130 329,650,640 1.05 Cochlear Limited 14,767 21,667,463 0.07 CSL Limited 22,355 37,170,064 0.12 Endeavour Group Ltd/Australia Ord Npv 108,997 3,997,142 0.01 Fortescue Metals Group Limited 2,832,263 385,406,264 1.23 James Hardie Industries SE Receipt Npv 121,338 32,025,186 0.10 National Australia Bank Ltd 1,888,613 288,708,786 0.92 Resmed Inc Chess Depositary Interests (10 Cdi Reps 1 Ord Shs) 94,807 18,107,923 0.06 Rio Tinto Limited Ord Npv 469,997 347,016,661 1.11 Shopping Centres Australasia Property Group REIT Npv 14,561,771 213,943,490 0.68 Spark Infrastructure Group Ord Npv 23,048,573 302,350,645 0.96 Stockland 9,053,073 245,961,016 0.78 Vicinity Centres – REIT 4,479,073 40,346,044 0.13 Woolworths Group Ltd Ord Npv 108,997 24,230,685 0.08 HONG KONG 香港 3,994,836,218 12.74 AIA Group Ltd 707,000 68,225,500 0.22 Alibaba Group Holding Ltd Ord USD0.000003125 626,100 137,742,000 0.44 Anhui Kouzi Distillery Co Ltd -A Cc Ord CNY1 111,305 9,056,044 0.03 BOC Hong Kong Holdings Ltd Ord Npv 7,477,500 197,032,125 0.63 Chacha Food Co Ltd-A Szhk 704,677 36,506,206 0.12 China Construction Bank H Shs Ord CNY1 20,500,000 125,255,000 0.40 China Mengniu Dairy Company Limited 1,281,000 60,142,950 0.19 China Mobile Ltd 3,742,000 181,674,100 0.58 China Pacific Insurance Gr Co Ltd H Shs 2,237,000 54,694,650 0.17 China Petroleum and Chemical Corporation-H 18,698,000 73,483,140 0.23 China Tourism Group Duty Free Corporation Limited – Cc Ord CNY1 804,586 290,226,996 0.93 Fortune REIT Npv 41,782,000 347,626,240 1.11 Hk Electric Investments – Ss 74,531,177 586,560,363 1.87 HKBN Ltd Ord HKD0.0001 3,018,500 28,373,900 0.09 Hkt Trust & Hkt Ltd Ord HKD 0.0005 32,087,060 339,481,095 1.08 Industrial and Commercial Bank of China H Shs Ord CNY1 37,438,000 170,717,280 0.54 JD.com Inc – Cl A Ord USD0.00002 152,800 46,665,120 0.15 Li Ning Co Ltd Ord HKD0.1 1,094,500 103,758,600 0.33 145 Schroder Asian Asset Income Fund Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Country/Territory 国家╱地区 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED EQUITIES (Continued) 上市股票（续） HONG KONG (Continued) 香港（续） Link REIT 1,931,200 145,322,800 0.46 Meituan Ord HKD0.000010000 71,100 22,780,440 0.07 Midea Group Co Ltd 164,467 14,108,921 0.04 Ping An Insurance (Group) Company of China Limited H Shares HKD1 465,000 35,363,250 0.11 Power Assets Holdings Ltd Ord HKD1 7,424,500 353,777,425 1.13 Sands China Ltd Ord USD0.01 419,200 13,707,840 0.04 Shanghai Jahwa United Co Ord CNY1 Cc 544,192 39,338,239 0.13 Swire Properties Ltd Ord HKD1 1,441,800 33,377,670 0.11 Techtronic Industries Co Ltd 286,000 38,781,600 0.12 Tencent Hldgs Ltd HKD0.0002 444,800 259,763,200 0.83 Toly Bread Co Ltd Cc Ord CNH1 228,750 8,578,573 0.03 Tsingtao Brewery Co Ltd ‘H’ Shares 698,000 58,352,800 0.19 Xiamen Faratronic Co Ltd Ord CNY 1 Cc 190,400 36,241,968 0.12 Yum China Holdings Inc Ord USD0.010000000 91,300 46,243,450 0.15 Zhejiang Sanhua Co Ltd-A Ord CNY1 Szhk 1,105,924 31,876,733 0.10 INDIA 印度 1,496,121,236 4.77 Bharti Airtel Ltd Ord INR5 (Demat) (Nse) 423,763 23,272,582 0.07 Brookfield India Real Estate REIT Ord Npv 1,658,800 46,517,630 0.15 Cipla Ltd Ord INR2% 554,140 56,268,579 0.18 Embassy Office Parks REIT 3,893,600 142,533,026 0.46 Escorts Limited 130,219 16,599,486 0.05 HDFC Bank Limited Ord INR1 282,439 44,201,026 0.14 ICICI Prudential Life Insurance Company Limited Ord Npv 206,467 13,216,711 0.04 India Grid Trust 24,198,426 336,225,748 1.07 Infosys Ltd Ord INR5 232,784 38,446,333 0.12 IRB Infrastructure 12,625,000 73,536,190 0.24 NTPC Ltd Ord INR10.000000000 23,827,828 289,775,926 0.92 Power Grid Corp of India Ltd Ord INR10.000000000 7,245,218 175,918,878 0.56 Powergrid Infra Invit Dm 12,653,300 149,768,420 0.48 Reliance Industries Ltd Ord INR10 127,105 28,028,749 0.09 Wipro Ltd Ord INR2.000000000 1,084,260 61,811,952 0.20 JAPAN 日本 174,195,667 0.56 Advance Residence Investment Corp REIT Npv 253 6,549,790 0.02 AEON REIT Investment Corp REIT Npv 1,188 13,673,745 0.04 Daiwa House REIT Investment Corp REIT Npv 462 10,586,647 0.03 Daiwa Office Investment Corp REIT Npv 155 8,383,326 0.03 施罗德亚洲高息股债基金 146 Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Country/Territory 国家╱地区 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED EQUITIES (Continued) 上市股票（续） JAPAN (Continued) 日本（续） Daiwa Securities Living Inve REIT Ord Npv 1,208 10,210,312 0.03 Frontier Real Estate Investment Corporation 207 7,516,971 0.03 Fukuoka REIT Corp Ord Npv 505 6,607,515 0.02 GLP J-REIT Npv 1,078 14,451,716 0.05 Invesco Office J-REIT Inc REIT Npv 1,305 2,071,811 0.01 Japan Excellent Inc REIT Npv 721 8,011,077 0.03 Japan Hotel REIT Investment Ord Npv 1,569 7,311,430 0.02 Japan Metropolitan Fund Investment Corporation Ord Npv 1,606 13,529,357 0.04 Kenedix Office Investment Corporation Ord Npv 232 12,710,273 0.04 Nippon Accommodations Fund Inc REIT 116 5,202,609 0.02 Nippon Building Fund Inc 348 16,873,984 0.05 Nomura Real Estate Master Fund – REIT 1,007 12,548,694 0.04 Premier Investment Company Npv 1,061 12,182,295 0.04 Sekisui House REIT Inc – REIT 897 5,774,115 0.02 NEW ZEALAND 新西兰 228,883,704 0.73 Spark New Zealand Ltd Ord Npv 8,787,449 228,883,704 0.73 SINGAPORE 新加坡 1,923,240,417 6.13 Ascendas Real Estate Investment Trust 12,892,694 219,730,730 0.70 Capitaland Integrated Commercial Trust REIT Ord Npv 28,399,785 342,914,970 1.10 DBS Group Holdings Ltd Ord Npv 152,100 26,194,873 0.08 Frasers Centrepoint Trust REIT Npv 25,249,154 354,468,960 1.13 Mapletree Commercial Trust REIT Npv 21,923,851 273,587,153 0.87 Mapletree Industrial Trust REIT Npv 13,207,320 215,936,592 0.69 Mapletree Logistics Trust REIT Npv 14,209,445 168,289,137 0.54 Mapletree North Asia Commercial REIT 46,628,700 280,163,628 0.89 Oversea-Chinese Banking Corp Ltd Ord SGD0.5 607,693 41,954,374 0.13 SOUTH KOREA 南韩 1,692,640,017 5.40 Hana Financial Holdings Ord Npv 568,334 180,478,731 0.58 LG Chemical Ord KRW5000 10,043 58,867,440 0.19 LG Electronics Inc 58,137 65,548,556 0.21 Lotte REIT Co Ltd Ord Npv 2,967,501 121,963,503 0.39 NAVER Corp Ord KRW100 141,658 407,840,492 1.30 NCSoft Corporation 4,032 22,799,595 0.07 Samsung Electronics Co Ltd Ord KRW100 1,290,838 718,353,204 2.29 SK Bioscience Co Ltd Ord KRW500.000000000 6,492 7,095,787 0.02 SK Telecom Company Limited 49,709 109,692,709 0.35 147 Schroder Asian Asset Income Fund Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Country/Territory 国家╱地区 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED EQUITIES (Continued) 上市股票（续） TAIWAN 台湾 1,836,549,734 5.86 ASE Technology Holding Co Ltd Ord TWD10 4,541,000 141,755,018 0.45 ASUSTek Computer Inc 2,673,000 276,774,894 0.88 Mediatek Inc 1,672,000 448,311,894 1.43 Novatek Microelectronics Corp Ltd 4,734,000 658,411,966 2.10 Realtek Semiconductor Corp 277,000 38,988,818 0.13 Taiwan Semiconductor Mfg Co. Ltd 1,642,000 272,307,144 0.87 THAILAND 泰国 254,638,936 0.81 Electricity Generating Pcl Ord Nvdr THB10 2,291,700 97,175,499 0.31 Land and Houses Pcl Ord Nvdr THB1 81,743,200 157,463,437 0.50 UNITED STATES OF AMERICA 美国 102,645,527 0.33 DIDI Global Inc ADR (1 ADR Reps .2500 ORD Shrs) 106,040 11,644,159 0.04 ICICI Bank Limited Sponsored Adr (1 Adr Represents 2 Ordinary Shares) 432,589 57,446,104 0.18 Vipshop Hldgs Ltd Sponsored Adr USD0.0001 215,183 33,555,264 0.11 UNLISTED INVESTMENT FUNDS 非上市投资基金 HONG KONG 香港 1,474,622,396 4.71 Schroder Umbrella Fund II – Schroder China Asset Income Fund – USD Class I Acc 10,542,460 1,474,622,396 4.71 LUXEMBOURG 卢森堡 1,881,658,112 6.00 Schroder International Selection Fund – Asian Equity Yield USD Class I Acc 3,706,689 1,555,556,213 4.96 Schroder International Selection Fund – Emerging Multi Asset Income – USD Class I Acc 305,533 326,101,899 1.04 施罗德亚洲高息股债基金 148 Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES 上市债务证券 HONG KONG DOLLAR 港元 20,300,000 0.07 Link 2019 Cb Ltd (Reg) (Reg S) 1.6% Conv 03Apr2024 20,000,000 20,300,000 0.07 RENMINBI 人民币 262,595,311 0.84 Bank of China/Hong Kong Ser Emtn (Reg) (Reg S) 2.8% 14Jan2023 4,650,000 5,589,899 0.02 Chengdu Rail Transit Ser Mtn (Reg) 4.4% 06Mar2024 (Interbank) 15,000,000 18,498,557 0.06 China Development Bank (Regs) 4.3% 02Aug2032 4,000,000 5,234,134 0.02 China Development Bk/HK Ser Emtn (Reg) (Reg S) 2.65% 18Jun2024 26,000,000 31,208,254 0.10 China Resources Land Ltd Ser Mtn (Reg) 5.23% 04Apr2023 (Interbank) 30,000,000 37,282,606 0.12 Chongqing Rail Transit G Ser Mtn (Reg) 4.09% 20Sep2024 (Interbank) 10,000,000 12,177,606 0.04 CIFI Holdings Group (Reg) (Reg S) 5.85% 19Aug2023 10,000,000 12,421,886 0.04 Guangzhou Plc Trans Ser Inbk (Reg) Var 21Sep2026 (Interbank) 30,000,000 36,403,159 0.11 Hubei Communications Inv Ser Mtn (Reg) 3.95% 11Dec2024 (Interbank) 30,000,000 36,568,332 0.11 Nanjing Metro Ser Inbk (Reg) 3.98% 19Sep2024 (Interbank) 5,000,000 6,103,412 0.02 SH Powerlong Ind Dev Ser Mtn (Reg) Var 27Aug2023 (Interbank) 20,000,000 24,139,066 0.08 Shenzhen Energy Group Co Ser Inbk (Reg) Var 24Jun2029 (Interbank) 10,000,000 12,279,693 0.04 Wuhan Metro Ser Mtn (Reg) Var 30Jul2033(Interbank) 20,000,000 24,688,707 0.08 UNITED STATES DOLLAR 美元 11,171,422,769 35.63 JD.com Inc 4.125% 14Jan2050 5,500,000 45,759,112 0.15 10 Renew Power Subsidiar Ser Regs (Reg) (Reg S) 4.5% 14Jul2028 1,973,000 15,602,224 0.05 AAC Technologies Holding (Reg) (Reg S) 2.625% 02Jun2026 732,000 5,765,920 0.02 AAC Technologies Holding (Reg) (Reg S) 3.75% 02Jun2031 1,760,000 14,000,368 0.04 Abu Dhabi Crude Oil Ser Regs (Reg) 4.6% 02Nov2047 2,500,000 22,948,281 0.07 Abu Dhabi Ports Co Pjsc Ser Emtn (Reg) (Reg S) 2.5% 06May2031 3,364,000 26,457,404 0.08 149 Schroder Asian Asset Income Fund Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Aegea Finance Sarl Ser Regs (Reg) (Reg S) 5.75% 10Oct2024 4,299,000 34,678,906 0.11 Agile Group Holdings Ltd (Reg) (Reg S) 5.5% 17May2026 6,950,000 52,426,395 0.17 Agile Group Holdings Ltd (Reg) (Reg S) 6.05% 13Oct2025 2,000,000 15,722,165 0.05 AI Candelaria Spain Ser Regs (Reg) (Regs) 7.5% 15Dec2028 5,000,000 43,483,712 0.14 AI Candelaria Spain Slu Ser Regs (Reg) (Reg S) 5.75% 15Jun2033 2,967,000 23,756,017 0.08 AIA Group Ltd Ser Gmtn (Reg) (Reg S) Var Perp 31Dec2049 4,500,000 35,487,993 0.11 AIA Group Ltd Ser Regs (Reg) (Reg S) 3.2% 16Sep2040 3,085,000 24,838,953 0.08 AIA Group Ltd Ser Regs (Reg) (Reg S) 3.6% 09Apr2029 8,200,000 70,602,524 0.23 AIA Group Ltd Ser Regs (Reg) (Reg S) 3.9% 06Apr2028 935,000 8,166,129 0.03 AIA Group Ltd Ser Regs (Regs) 4.5% 16Mar2046 5,500,000 54,140,309 0.17 AIA Group Ltd Ser Regs 4.875% 11Mar2044 800,000 8,182,566 0.03 Al Ahli Bank of Kuwai (Reg S) Var Perp 31Dec2049 6,500,000 53,725,276 0.17 Alibaba Group Holding (Reg) 2.125% 09Feb2031 2,020,000 15,433,978 0.05 Alibaba Group Holding 2.7% 09Feb2041 1,569,000 11,658,749 0.04 Alibaba Group Holding 3.15% 09Feb2051 1,147,000 8,769,066 0.03 Alibaba Group Holding 3.25% 09Feb2061 1,147,000 8,651,114 0.03 APL Realty Hldg Pte Ltd 5.95% 02Jun2024 1,460,000 8,396,925 0.03 Atento Luxco 1 Sa Ser Regs (Reg S) 8% 10Feb2026 1,618,000 13,712,745 0.04 Azure Power Energy Ltd Ser Regs (Regs) 5.5% 03Nov2022 4,200,000 33,148,285 0.11 Azure Power Solar Energy Ser Regs (Reg) (Reg S) 5.65% 24Dec2024 1,918,000 15,835,066 0.05 Banco Internac Del Peru Ser Regs (Reg) (Reg S) Var 08Jul2030 5,005,000 38,719,215 0.12 Bank Mandiri Pt Ser Emtn (Reg S) 2% 19Apr2026 1,410,000 10,973,971 0.03 Bank Mandiri Pt Ser Emtn (Reg) (Reg S) 4.75% 13May2025 2,000,000 17,313,963 0.06 施罗德亚洲高息股债基金 150 Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Bank of Communication HK (Reg) (Regs) Var 08Jul2031 7,220,000 55,993,743 0.18 BBVA Banco Continental Ser Regs Var 22Sep2029 4,239,000 34,528,047 0.11 BDO Unibank Inc Ser Emtn (Reg) (Reg S) 2.125% 13Jan2026 7,347,000 58,851,585 0.19 Bharti Airtel Ltd Ser Regs (Regs) 3.25% 03Jun2031 3,000,000 23,216,032 0.07 Bj State-Owned Ast HK (Regs) 4.125% 26May2025 11,000,000 91,628,891 0.29 Blossom Joy Ltd (Reg) (Reg S) Var Perp 31Dec2049 4,463,000 35,413,134 0.11 Braskem Netherlands Ser Regs (Reg) (Reg S) Var 23Jan2081 8,229,000 74,535,806 0.24 Burgan Bank (Reg S) Var Perp 31Dec2049 7,765,000 61,173,488 0.19 Burgan Bank (Reg) (Reg S) Var 15Dec2031 7,500,000 55,364,298 0.18 CAS Capital No1 Ltd (Reg) (Reg S) Var Perp 31Dec2049 5,362,000 41,931,971 0.13 Castle Peak Pwr Fin Co Ser Emtn (Reg) (Reg S) 2.2% 22Jun2030 2,863,000 22,266,090 0.07 CBQ Finance Ltd Ser Emtn (Reg S) 2% 12May2026 6,532,000 50,568,012 0.16 CCTI 2017 Ltd (Reg) (Reg S) 3.625% 08Aug2022 6,000,000 46,892,004 0.15 CDBL Funding (Regs) 4.25% 02Dec2024 11,000,000 92,779,301 0.30 CDBL Funding 1 Ser Emtn (Reg) (Reg S) 3.5% 24Oct2027 5,000,000 41,120,292 0.13 Celestial Dynasty Ltd (Reg S) 4.25% 27Jun2029 4,892,000 39,605,896 0.13 Cemex Sab De Cv Ser Regs (Reg) (Reg S) 3.875% 11Jul2031 2,121,000 16,763,735 0.05 Cemex Sab De Cv Ser Regs (Reg) (Reg S) Var Perp 31Dec2049 2,650,000 21,267,887 0.07 Central Chn Real Estate (Reg) (Reg S) 7.25% 16Jul2024 2,000,000 13,533,174 0.04 Central Chn Real Estate (Reg) (Reg S) 7.65% 27Aug2023 5,000,000 36,790,404 0.12 Chalco HK Investment (Reg) (Reg S) Var Pepr 29Dec2049 4,500,000 35,184,065 0.11 Champion Path Holdings (Reg) (Reg S) 4.5% 27Jan2026 672,000 5,433,921 0.02 151 Schroder Asian Asset Income Fund Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Champion Path Holdings (Reg) (Reg S) 4.85% 27Jan2028 957,000 7,784,875 0.02 Charming Light Inv Ser Emtn (Regs) 5% 03Sep2024 2,500,000 20,956,651 0.07 China Aoyuan Group Ltd (Reg) (Reg S) 6.35% 08Feb2024 6,890,000 50,695,732 0.16 China Aoyuan Group Ltd (Reg) (Reg S) 7.95% 19Feb2023 6,200,000 47,788,073 0.15 China Aoyuan Group Ltd (Reg) (Reg S) 8.5% 23Jan2022 5,000,000 39,120,935 0.12 China Cinda Finance 2015 Ser Regs 4.25% 23Apr2025 2,759,000 22,458,134 0.07 China Cinda Finance 2017 (Reg) (Regs) 4.1% 09Mar2024 15,000,000 120,851,032 0.39 China Construction Bank (Reg) (Reg S) Var 24Jun2030 6,033,000 47,876,715 0.15 China Construction Bank (Reg) (Reg S) Var 27Feb2029 6,000,000 50,015,553 0.16 China GRT Wall Intl III Ser Emtn (Reg) (Regs) 2.625% 27Oct2021 2,500,000 19,443,844 0.06 China Hongqiao Group Ltd (Reg) (Reg S) 6.25% 08Jun2024 1,941,000 15,357,530 0.05 China Oil & Gas Group (Reg) (Reg S) 4.7% 30Jun2026 2,421,000 19,114,500 0.06 China Oil and Gas Group (Reg) (Reg S) 5.5% 25Jan2023 6,607,000 52,719,968 0.17 China Oil and Gas Group 4.625% 20Apr2022 900,000 7,076,631 0.02 China Resources Land Ltd Ser Emtn (Reg) (Reg S) 3.75% 26Aug2024 2,600,000 21,586,625 0.07 China Resources Land Ltd Ser Emtn (Reg) (Reg S) 4.125% 26Feb2029 1,918,000 16,346,021 0.05 China Resources Land Ltd Ser Emtn (Reg) (Reg S) Var Perp 31Dec2049 5,232,000 42,332,144 0.13 China SCE Grp Hldgs Ltd (Reg) (Reg S) 5.95% 29Sep2024 900,000 7,022,150 0.02 China SCE Grp Hldgs Ltd (Reg) (Reg S) 6% 04Feb2026 2,500,000 18,539,394 0.06 China SCE Grp Hldgs Ltd (Reg) (Reg S) 7.25% 19Apr2023 3,000,000 23,996,477 0.08 CICC HK Finance 2016 Mtn Ser Emtn (Reg) (Reg S) 1.625% 26Jan2024 5,000,000 39,047,509 0.12 施罗德亚洲高息股债基金 152 Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） CICC HK Finance 2016 Mtn Ser Emtn (Reg) (Reg S) 2% 26Jan2026 7,000,000 54,143,017 0.17 CIFI Holdings Group (Reg) (Reg S) 4.375% 12Apr2027 7,788,000 59,410,964 0.19 CIFI Holdings Group (Reg) (Reg S) 5.25% 13May2026 1,000,000 7,986,625 0.03 CIFI Holdings Group (Reg) (Reg S) 5.95% 20Oct2025 4,000,000 32,847,247 0.10 CITIC Ltd Ser Emtn (Reg) (Regs) 3.7% 14Jun2026 7,500,000 63,077,243 0.20 CK Hutchison Capit 17 Var Perp 31Dec2049 2,175,000 17,229,011 0.05 CK Hutchison Intl 17 Ltd Ser Regs (Reg) 3.5% 05Apr2027 15,000,000 127,943,913 0.41 CK Hutchison Intl 20 Ltd Ser Regs (Reg) (Reg S) 3.375% 08May2050 1,764,000 14,755,122 0.05 CK Hutchison Intntl 21 Ser Regs (Reg S) 2.5% 15Apr2031 3,496,000 27,718,667 0.09 CK Hutchison Intntl 21 Ser Regs (Reg S) 3.125% 15Apr2041 2,305,000 18,390,734 0.06 CLP Power HK Financing Ser Emtn (Reg) (Reg S) 2.5% 30Jun2035 3,516,000 26,964,812 0.09 CMB International Leasin Ser Emtn (Reg) (Reg S) 2% 04Feb2026 1,772,000 13,631,237 0.04 CMB International Leasin Ser Emtn (Reg) (Reg S) 2.875% 04Feb2031 6,000,000 46,461,139 0.15 CMT MTN Pte Ltd Ser Emtn (Reg S) (Br) 3.609% 04Apr2029 4,500,000 38,326,893 0.12 CNAC HK Finbridge Co Ltd (Reg) (Reg S) 4.75% 19Jun2049 3,754,000 32,635,181 0.10 Colombia Telecomunicacio Ser Regs (Regs) 4.95% 17Jul2030 2,340,000 18,910,875 0.06 Comision Federal De Elec Ser Regs (Reg S) 3.348% 09Feb2031 5,109,000 39,469,612 0.13 Comision Federal De Elec Ser Regs (Reg S) 4.677% 09Feb2051 2,612,000 19,667,450 0.06 COSCO Pacific Finance (Regs) 4.375% 31Jan2023 8,000,000 63,540,340 0.20 Country Garden Hldgs (Reg) (Reg S) 3.125% 22Oct2025 5,289,000 41,310,370 0.13 Country Garden Hldgs (Reg) (Reg S) 3.875% 22Oct2030 3,641,000 27,924,844 0.09 153 Schroder Asian Asset Income Fund Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Country Garden Hldgs (Reg) (Reg S) 4.2% 06Feb2026 2,500,000 20,239,319 0.06 Country Garden Hldgs (Reg) (Reg S) 4.8% 06Aug2030 3,050,000 24,713,098 0.08 Country Garden Hldgs (Reg) (Reg S) 5.125% 14Jan2027 3,081,000 25,586,969 0.08 Country Garden Hldgs (Reg) (Reg S) 5.4% 27May2025 1,355,000 11,297,799 0.04 Country Garden Hldgs (Reg) (Regs) 5.125% 17Jan2025 2,491,000 20,070,760 0.06 DBS Group Holdings Ltd Ser Gmtn (Reg S) Var Perp 29Dec2049 2,713,000 21,184,418 0.07 DBS Group Holdings Ltd Ser Gmtn (Reg) (Reg S) Var 10Mar2031 5,497,000 42,621,856 0.14 DBS Group Holdings Ltd Ser Gmtn (Reg) (Reg S) Var Perp 31Dec2049 7,000,000 56,088,269 0.18 DBS Group Holdings Ltd Ser Regs (Reg) Var 11Dec2028 7,000,000 58,695,094 0.19 DUA Capital Ltd (Reg) (Reg S) 2.78% 11May2031 4,000,000 30,946,850 0.10 Eastern Creation II Inve Ser Emtn (Reg) (Reg S) 1% 10Sep2023 417,000 3,235,134 0.01 Elect Global Inv Ltd (Reg) (Reg S) 4.85% Perp 31Dec2049 4,555,000 37,012,582 0.12 Empresa De Los Ferrocarr Ser Regs (Reg S) 3.068% 18Aug2050 1,235,000 8,322,774 0.03 Empresa De Transporte Me Ser Reg S (Reg) 5% 25Jan2047 4,300,000 38,686,137 0.12 Empresa De Transporte Me Ser Regs (Reg S) 3.65% 07May2030 1,272,000 10,668,424 0.03 Empresa De Transporte Me Ser Regs (Reg S) 4.7% 07May2050 2,305,000 20,249,697 0.06 Equate Petrochemical Bv Ser Regs (Reg) (Regs) 4.25% 03Nov2026 2,905,000 25,112,435 0.08 Export-Import Bk India Ser Regs (Reg S) 3.25% 15Jan2030 6,000,000 47,515,120 0.15 Fortune Star Bvi Ltd (Reg) (Reg S) 5% 18May2026 4,253,000 33,575,073 0.11 Foxconn Far East Ltd (Reg) (Reg S) 2.5% 28Oct2030 3,743,000 29,255,353 0.09 GC Treasury Centre Co Ser Regs (Reg S) 2.98% 18Mar2031 3,500,000 27,858,601 0.09 施罗德亚洲高息股债基金 154 Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Genm Capital Labuan Ser Regs (Reg S) 3.882% 19Apr2031 1,731,000 13,419,572 0.04 Globe Telecom Inc (Reg) (Reg S) 2.5% 23Jul2030 4,000,000 29,904,456 0.10 Globe Telecom Inc (Reg) (Reg S) 3% 23Jul2035 4,000,000 28,722,928 0.09 Globo Communicacoes Part Ser Regs (Regs) Stp 08June2025 670,000 5,489,343 0.02 Gnl Quintero Sa Ser Regs (Reg) (Regs) 4.634% 31Jul2029 3,900,000 33,069,416 0.11 Great Wall Intl V (Reg) (Reg S) 2.375% 18Aug2030 7,000,000 49,092,559 0.16 Greenko Dutch Bv Ser Regs (Reg S) 3.85% 29Mar2026 4,381,000 34,898,260 0.11 Greenko Mauritius Ltd Ser Regs (Reg) (Reg S) 6.25% 21Feb2023 7,500,000 60,126,375 0.19 Greenko Solar Mauritius Ser Regs (Reg) (Reg S) 5.55% 29Jan2025 2,804,000 22,422,457 0.07 Grupo Kuo SAB de CV Ser Regs (Reg) (Regs) 5.75% 07Jul2027 990,000 8,056,341 0.03 Grupo Televisa Sab (Reg) 5.25% 24May2049 2,000,000 19,673,927 0.06 Guara Norte Sarl Ser Regs (Reg S) 5.198% 15Jun2034 1,108,000 8,822,380 0.03 Gz Mtr Fin BVI Ser Emtn (Reg) (Reg S) 1.507% 17Sep2025 5,978,000 45,951,652 0.15 Gz Mtr Fin BVI Ser Emtn (Reg) (Reg S) 2.31% 17Sep2030 6,000,000 44,534,851 0.14 Haidilao International H (Reg) (Reg S) 2.15% 14Jan2026 708,000 5,441,618 0.02 Haitong Intl Securities (Reg) (Reg S) 3.125% 18May2025 4,590,000 37,148,946 0.12 Haitong Intl Securities (Reg) (Reg S) 3.375% 19Jul2024 3,000,000 24,502,266 0.08 Halcyon Agri Corp Ltd (Reg) (Reg S) Var Perp 31Dec2049 3,500,000 26,976,621 0.09 Health And Happiness H&H (Reg) (Reg S) 5.625% 24Oct2024 4,483,000 35,943,403 0.11 HKT Capital No 4 Ltd (Reg) (Regs) 3% 14Jul2026 2,039,000 16,817,261 0.05 HSBC Holdings Plc (Reg) Var Perp 29Mar2049 2,900,000 25,137,338 0.08 155 Schroder Asian Asset Income Fund Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Huarong Finance 2017 Co (Reg) (Reg S) Frn 27Apr2022 12,800,000 81,510,362 0.26 Huarong Finance 2017 Co Ser Emtn (Reg) (Regs) Frn 07Nov2022 7,000,000 41,749,210 0.13 Huarong Finance 2019 Ser Emtn (Reg S) Frn 24Feb2025 3,515,000 19,107,874 0.06 Hyundai Motor Manu Indo Ser Emtn (Reg) (Reg S) 1.75% 06May2026 443,000 3,454,064 0.01 ICBCIL Finance Co Ltd Ser Emtn (Reg S) 3.625% 15Nov2027 5,000,000 41,877,967 0.13 ICTSI Treasury 5.875% 17Sep2025 8,000,000 72,814,970 0.23 Iindonesia(Rep of) Ser Regs (Reg) (Reg S) 3.85% 18Jul2027 1,500,000 12,996,899 0.04 India Green Power Hold Ser Regs (Reg S) 4% 22Feb2027 10,000,000 78,105,813 0.25 Indian Oil Corp Ltd (Reg) (Reg S) 4.75% 16Jan2024 4,000,000 33,512,594 0.11 Indian Railway Finance Ser Regs (Reg S) 3.249% 13Feb2030 6,000,000 47,367,181 0.15 Indonesia (Rep of) (Reg) 3.4% 18Sep2029 6,000,000 50,406,020 0.16 Indonesia (Rep of) (Reg) 3.5% 11Jan2028 3,000,000 25,455,416 0.08 Indonesia (Rep of) (Reg) 3.7% 30Oct2049 8,500,000 69,251,595 0.22 Indonesia (Rep of) 2.85% 14Feb2030 11,097,000 89,419,899 0.29 Indonesia (Rep of) 4.35% 08Jan2027 5,000,000 43,994,123 0.14 Indonesia (Rep of) Ser Regs (Reg S) 1.5% 09Jun2026 5,000,000 38,794,692 0.12 Indonesia (Rep of) Ser Regs (Reg S) 2.55% 09Jun2031 6,253,000 48,693,400 0.16 Indonesia (Rep of) Ser Regs (Reg S) 3.55% 09Jun2051 2,925,000 23,163,735 0.07 Indonesia (Rep of) Ser Regs (Regs) 4.75% 08Jan2026 5,500,000 48,815,232 0.16 Inkia Energy Ltd Ser Regs (Reg) (Regs) 5.875% 09Nov2027 3,354,000 26,949,959 0.09 IOCHPE-Max/Max Wheels Mx Ser Regs (Reg S) 5% 07May2028 3,182,000 25,151,160 0.08 JMH Co Ltd (Reg) (Reg S) 2.5% 09Apr2031 2,611,000 20,563,042 0.07 JMH Co Ltd (Reg) (Reg S) 2.875% 09Apr2036 1,550,000 12,184,401 0.04 Jollibee Worldwide Pte L (Reg S) 4.75% 24Jun2030 3,000,000 24,785,611 0.08 Joy Trsr Assets Hld (Reg) (Reg S) 1.875% 17Nov2025 1,374,000 10,262,673 0.03 施罗德亚洲高息股债基金 156 Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Joy Trsr Assets Hld (Reg) (Reg S) 2.75% 17Nov2030 743,000 5,346,230 0.02 JSW Hydro Energy Ltd Ser Regs (Reg) (Reg S) 4.125% 18May2031 1,797,000 14,177,679 0.05 Kia Corp Ser Regs (Reg S) 1% 16Apr2024 1,325,000 10,349,308 0.03 Kia Corp Ser Regs (Reg S) 1.75% 16Oct2026 1,985,000 15,568,339 0.05 Kingdom of Bahrain Ser Regs (Reg) (Reg S) 5.45% 16Sep2032 2,202,000 17,037,712 0.05 Kookmin Bank Ser Regs (Reg) (Reg S) 2.5% 04Nov2030 4,000,000 30,984,033 0.10 Krung Thai Bank/Cayman (Reg S) Var Perp 31Dec2049 2,372,000 18,719,470 0.06 KWG Group Holdings (Reg S) 7.875% 01Sep2023 3,000,000 23,850,797 0.08 KWG Group Holdings (Reg) (Reg S) 6.3% 13Feb2026 2,069,000 15,803,345 0.05 KWG Group Holdings (Reg) (Reg S) 7.4% 13Jan2027 4,000,000 31,183,367 0.10 Lamar Funding Ltd Ser Regs (Reg) 3.958% 07May2025 4,500,000 35,143,422 0.11 Lenovo Group Ltd Ser Emtn (Reg S) 5.875% 24Apr2025 2,000,000 17,589,433 0.06 Lenovo Group Ltd Ser Regs (Reg S) 3.421% 02Nov2030 1,753,000 14,260,927 0.05 LG Chem Ltd Ser Regs (Reg S) 2.375% 07Jul2031 996,000 7,737,413 0.02 Li & Fung Ltd Ser Emtn (Reg) (Reg S) 4.375% 04Oct2024 4,000,000 31,723,435 0.10 LLPL Capital Pte Ltd Ser Regs (Reg) 6.875% 04Feb2039 3,989,000 32,885,651 0.10 Logan Group Co Ltd (Reg) (Reg S) 4.25% 12Jul2025 5,000,000 38,376,812 0.12 Logan Group Co Ltd (Reg) (Reg S) 4.85% 14Dec2026 1,746,000 13,658,115 0.04 Logan Group Co Ltd (Reg) (Reg S) 5.25% 19Oct2025 3,058,000 24,395,291 0.08 Longfor Holdings Ltd (Reg) (Reg S) 3.95% 16Sep2029 4,980,000 41,789,312 0.13 Longfor Properties 3.875% 13Jul2022 8,000,000 63,632,505 0.20 Macquarie Bank Ltd Ser Regs (Reg S) Var 03Mar2036 4,000,000 30,935,496 0.10 157 Schroder Asian Asset Income Fund Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） MAF Global Sec Var Perp 29Dec2049 7,366,000 59,028,893 0.19 MDGH GMTN RSC Ltd Ser Emtn (Reg) (Reg S) 3.4% 07Jun2051 2,698,000 22,026,067 0.07 MDGH GMTN RSC Ltd Ser Gmtn (Reg) (Reg S) 2.5% 03Jun2031 2,210,000 17,405,035 0.06 Medco Bell Pte Ltd Ser Regs (Reg) (Reg S) 6.375% 30Jan2027 1,515,000 12,151,634 0.04 Medco Oak Tree Pte Ltd Ser Regs (Reg) (Reg S) 7.375% 14May2026 4,023,000 34,239,842 0.11 Metropolitan Bank & Trus Ser Emtn (Reg S) 2.125% 15Jan2026 6,905,000 54,909,454 0.18 MGM China Holdings Ltd Ser Regs (Reg S) 4.75% 01Feb2027 2,138,000 16,955,877 0.05 MGM China Holdings Ltd Ser Regs (Reg S) 5.25% 18Jun2025 1,810,000 14,648,587 0.05 Millicom Intl Cellular Ser Regs (Reg) 6.625% 15Oct2026 3,954,000 32,577,866 0.10 Minejesa Capital Bv Ser Regs (Regs) 4.625% 10Aug2030 3,000,000 24,729,184 0.08 Minmetals Bounteous Fin (Reg) (Reg S) 4.2% 27Jul2026 10,000,000 85,577,726 0.27 Minmetals Bounteous Fina (Reg) (Regs) 4.75% 30Jul2025 3,200,000 27,550,850 0.09 Modern Land China Co Ltd (Reg) (Reg S) 11.5% 13Nov2022 2,800,000 21,094,049 0.07 Modern Land China Co Ltd (Reg) (Reg S) 11.95% 04Mar2024 1,150,000 7,981,534 0.03 Modern Land China Co Ltd (Reg) (Reg S) 9.8% 11Apr2023 1,282,000 9,015,582 0.03 MTR Corp Ltd Ser Emtn (Reg) (Reg S) 1.625% 19Aug2030 2,452,000 18,489,745 0.06 Nagacorp Ltd (Reg) (Reg S) 7.95% 06Jul2024 4,266,000 34,132,266 0.11 Nan Fung Treasury III (Reg) (Reg S) 5% Perp 31Dec2049 4,119,000 32,669,510 0.10 Naver Corp (Reg) (Reg S) 1.5% 29Mar2026 6,569,000 50,946,530 0.16 NBK Tier 2 Ltd (Reg S) Var 24Nov2030 2,558,000 20,031,911 0.06 Nemak Sab De Cv Ser Regs (Reg S) 3.625% 28Jun2031 2,196,000 17,172,331 0.05 Network I2I Ltd Ser Regs (Reg S) Var Perp 31Dec2049 2,935,000 22,897,730 0.07 Nippon Life Insurance Ser Regs (Reg S) Var 21Jan2051 10,000,000 76,202,403 0.24 施罗德亚洲高息股债基金 158 Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） NWD Finance (BVI) Ltd (Reg) (Reg S) Var Perp 31Dec2049 6,800,000 56,874,771 0.18 NWD Finance (BVI) Ltd (Reg) (Regs) 4.8% Perp 29Dec2049 4,277,000 33,344,908 0.11 NWD Mtn Ltd (Reg) (Reg S) 3.75% 14Jan2031 1,729,000 13,602,446 0.04 NWD Mtn Ltd Ser Emtn (Reg) (Reg S) 4.5% 19May2030 3,000,000 24,956,941 0.08 Oil & Gas Holding Ser Regs (Regs) 7.5% 25Oct2027 3,500,000 30,459,799 0.10 Oil India International (Reg) (Reg S) 4% 21Apr2027 4,000,000 32,912,542 0.10 Oil India Ltd (Reg) (Regs) 5.375% 17Apr2024 7,000,000 59,821,236 0.19 OQ SAOC Ser Regs (Reg S) (Br) 5.125% 06May2028 3,500,000 27,390,634 0.09 ORYX Funding Ltd Ser Regs (Reg S) 5.8% 03Feb2031 735,000 6,044,095 0.02 Oversea-Chinese Banking Ser Regs (Reg S) Var 10Sep2030 5,000,000 38,953,892 0.12 Panther Ventures Ltd (Reg) (Reg S) 3.5% Perp 31Dec2049 6,183,000 46,879,706 0.15 Periama Holdings Llc/De (Reg) (Reg S) 5.95% 19Apr2026 6,000,000 50,705,021 0.16 Pertamina Persero Ser (Regs) 6.45% 30May2044 9,000,000 91,208,510 0.29 Pertamina Persero Ser Regs 5.625% 20May2043 5,000,000 45,798,130 0.15 Perusahaan Listrik Negar 5.25% 15May2047 5,000,000 43,797,064 0.14 Perusahaan Listrik Negar Ser Regs (Reg S) 3% 30Jun2030 3,571,000 27,859,278 0.09 Perusahaan Listrik Negar Ser Regs (Reg S) 4% 30Jun2050 2,906,000 22,454,722 0.07 Perusahaan Listrik Negar Ser Regs (Reg) (Reg S) 4.875% 17Jul2049 2,028,000 17,208,302 0.05 Perusahaan Penerbit Sbsn Ser Regs (Reg) (Reg S) 4.15% 29Mar2027 8,000,000 69,783,928 0.22 Perusahaan Penerbit Sbsn Ser Regs (Reg) 4.45% 20Feb2029 9,000,000 80,491,171 0.26 Petronas Capital Ltd Ser Regs (Reg S) 2.48% 28Jan2032 12,500,000 97,536,940 0.31 159 Schroder Asian Asset Income Fund Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Philippines (Rep of) (Reg) 2.457% 05May2030 2,479,000 20,045,476 0.06 PLDT Inc (Reg) (Reg S) 3.45% 23Jun2050 3,900,000 30,448,607 0.10 Poly Real Estate Finance 3.95% 05Feb2023 1,000,000 8,027,241 0.03 Powerlong Real Estate (Reg S) 6.95% 23Jul2023 3,841,000 30,872,632 0.10 Powerlong Real Estate (Reg) (Reg S) 5.95% 30Apr2025 3,769,000 30,323,044 0.10 Powerlong Real Estate (Reg) (Reg S) 6.25% 10Aug2024 4,559,000 36,732,463 0.12 Powerlong Real Estate (Reg) (Reg S) 7.125% 08Nov2022 3,134,000 25,336,891 0.08 PT Pertamina (Persero) Ser Regs (Reg S) 4.7% 30Jul2049 4,800,000 40,444,547 0.13 PT Pertamina (Persero) Ser Regs (Reg) (Reg S) 1.4% 09Feb2026 3,656,000 27,909,284 0.09 PT Pertamina (Persero) Ser Regs (Reg) (Reg S) 2.3% 09Feb2031 3,656,000 27,296,132 0.09 PT Pertamina (Persero) Ser Regs (Reg) (Reg S) 3.65% 30Jul2029 1,716,000 14,272,359 0.05 PTTEP Treasury Center Co Ser Regs (Reg S) 3.903% 06Dec2059 424,000 3,551,113 0.01 PTTEP Treasury Center Co Ser Regs (Reg) (Reg S) 2.993% 15Jan2030 6,500,000 52,809,151 0.17 Rede D’ Or Finance Sarl Ser Regs (Reg) (Reg S) 4.5% 22Jan2030 2,600,000 20,754,040 0.07 Reliance Industries 6.25% 19Oct2040 1,800,000 19,731,247 0.06 Reliance Industries Ltd Ser Regs 4.875% 10Feb2045 7,000,000 67,806,152 0.22 Renew Power Pvt Ltd Ser Regs (Reg) (Reg S) 5.875% 05Mar2027 4,000,000 33,222,306 0.11 Renew Power Synthetic Ser Regs (Reg) (Reg S) 6.67% 12Mar2024 4,893,000 39,982,879 0.13 Republic of Indonesia (Reg) 4.1% 24Apr2028 2,000,000 17,570,174 0.06 Republic of Indonesia (Reg) 5.35% 11Feb2049 4,000,000 40,391,118 0.13 Republic of Philippines (Reg) 1.648% 10Jun2031 6,531,000 49,004,168 0.16 Republic of Philippines (Reg) 2.65% 10Dec2045 13,614,000 97,759,966 0.31 Republic of Philippines (Reg) 3% 01Feb2028 4,500,000 37,708,972 0.12 施罗德亚洲高息股债基金 160 Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Republic of Philippines (Reg) 3.75% 14Jan2029 4,400,000 38,769,226 0.12 Rizal Commercial Banking (Reg) (Reg S) Var Perp 31Dec2049 2,000,000 16,189,530 0.05 Ronshine China (Reg) (Reg S) 10.5% 01Mar2022 4,586,000 35,923,675 0.11 Ronshine China (Reg) (Reg S) 7.1% 25Jan2025 1,000,000 6,980,948 0.02 Ronshine China (Reg) (Reg S) 8.1% 09Jun2023 1,000,000 7,552,289 0.02 Ronshine China (Reg) (Reg S) 8.75% 25Oct2022 2,000,000 15,571,197 0.05 Ronshine China (Reg) (Reg S) 8.95% 22Jan2023 1,600,000 12,332,369 0.04 SA Global Sukuk Ltd Ser Regs (Reg) (Reg S) 1.602% 17Jun2026 6,817,000 52,959,387 0.17 SA Global Sukuk Ltd Ser Regs (Reg) (Reg S) 2.694% 17Jun2031 1,067,000 8,397,528 0.03 Santos Finance Ltd Ser Emtn (Br) (Reg S) 4.125% 14Sep2027 12,736,000 106,817,840 0.34 Scentre Group Trust 1/2 Ser Regs (Reg) (Reg S) 4.375% 28May2030 7,804,000 70,750,222 0.23 Senaat Sukuk Limited (Reg S) 4.76% 05Dec2025 2,625,000 23,114,181 0.07 Shimao Group Hldgs Ltd (Reg S) (Reg) 5.6% 15Jul2026 8,898,000 72,623,002 0.23 Shimao Group Hldgs Ltd (Reg) (Reg S) 4.6% 13Jul2030 1,423,000 11,201,018 0.04 Shimao Group Holdings Lt (Reg) (Reg S) 3.45% 11Jan2031 9,000,000 65,118,073 0.21 Shinhan Bank Ser Regs (Reg) (Reg S) 4% 23Apr2029 2,324,000 20,223,773 0.06 Shinhan Bank Ser Regs 3.875% 24Mar2026 16,000,000 136,708,470 0.44 Shinhan Financial Group Ser Regs (Reg) (Reg S) 1.35% 10Jan2026 7,000,000 54,334,503 0.17 Siam Commercial Bank Cay Ser Gmtn (Reg) (Reg S) 4.4% 11Feb2029 6,000,000 53,673,921 0.17 SIHC International Capital (Reg) (Reg S) 4.35% 26Sep2023 2,000,000 16,519,811 0.05 Simpar Europe Sa Ser Regs (Reg) (Reg S) 5.2% 26Jan2031 4,066,000 32,456,283 0.10 161 Schroder Asian Asset Income Fund Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Sinopec Grp Dev 2018 Ser Regs (Reg S) 3.44% 12Nov2049 8,000,000 63,741,041 0.20 Sinopec Grp Overseas Dev Ser Regs (Reg) (Regs) 4.25% 03May2046 4,000,000 36,241,343 0.12 Sinosing Serv P L (Reg) (Reg S) 2.625% 20Feb2030 3,301,000 25,670,319 0.08 SK Battery America Inc (Reg) (Reg S) 1.625% 26Jan2024 2,000,000 15,566,755 0.05 SK Battery America Inc (Reg) (Reg S) 2.125% 26Jan2026 3,000,000 23,127,035 0.07 SK Hynix Inc Ser Regs (Reg) (Reg S) 1.5% 19Jan2026 2,409,000 18,471,605 0.06 SK Hynix Inc Ser Regs (Reg) (Reg S) 2.375% 19Jan2031 764,000 5,790,341 0.02 SMC Global Power Hldgs (Reg) (Reg S) Var Perp 31Dec2049 2,494,000 20,515,005 0.07 Softbank Group Corp (Reg) (Regs) Var Perp 29Dec2049 849,000 6,680,863 0.02 SPIC Lux Latam Re Ener Ser 5Yr (Reg S) 4.65% 30Oct2023 2,900,000 24,085,969 0.08 Star Energy Co Issue Ser Regs (Reg) (Reg S) 4.85% 14Oct2038 2,705,000 23,136,801 0.07 State Grid Overseas Inv Ser Emtn (Reg) (Reg S) 1.625% 05Aug2030 2,781,000 20,584,391 0.07 Studio City Finance Ltd Ser May (Reg) (Reg S) 5% 15Jan2029 2,333,000 18,276,258 0.06 Sun Hung Kai Prop (Cap) Ser Emtn (Reg) (Reg S) 2.75% 13May2030 5,000,000 40,335,825 0.13 Sun Hung Kai Prop (Cap) Ser Emtn (Reg) (Reg S) 2.875% 21Jan2030 2,700,000 21,978,862 0.07 Sun Hung Kai Prop (Cap) Ser Emtn (Reg) (Reg S) 3.75% 25Feb2029 2,000,000 17,166,644 0.05 Sunac China Holdings Ltd (Reg) (Reg S) 5.95% 26Apr2024 1,400,000 10,762,229 0.03 Sunac China Holdings Ltd (Reg) (Reg S) 6.5% 09Jul2023 1,000,000 7,949,877 0.03 Sunac China Holdings Ltd (Reg) (Reg S) 6.5% 26Jan2026 2,000,000 15,044,144 0.05 Sunac China Holdings Ltd (Reg) (Reg S) 6.65% 03Aug2024 1,600,000 12,486,629 0.04 Sunac China Holdings Ltd (Reg) (Reg S) 7.35% 19Jul2021 3,000,000 23,317,633 0.07 施罗德亚洲高息股债基金 162 Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Sunac China Holdings Ltd (Reg) (Reg S) 7.5% 01Feb2024 4,230,000 33,669,569 0.11 Sunac China Holdings Ltd 7% 09Jul2025 2,317,000 17,766,775 0.06 TCL Technology Invest (Reg) (Reg S) 1.875% 14Jul2025 1,483,000 11,401,035 0.04 Tencent Holdings Ltd Ser Regs (Reg S) 2.39% 03Jun2030 4,565,000 35,356,664 0.11 Tencent Holdings Ltd Ser Regs (Reg S) 3.24% 03Jun2050 2,567,000 19,545,857 0.06 Tencent Holdings Ltd Ser Regs (Reg) (Regs) 3.595% 19Jan2028 14,493,000 123,404,212 0.39 ThaiOil Trsry Center Ser Regs (Reg S) 2.5% 18Jun2030 4,000,000 30,565,609 0.10 ThaiOil Trsry Center Ser Regs (Reg S) 3.75% 18Jun2050 2,000,000 14,865,623 0.05 Times China Hldg Ltd (Reg) (Reg S) 5.75% 14Jan2027 3,750,000 27,879,567 0.09 Times China Hldg Ltd (Reg) (Reg S) 6.75% 08Jul2025 5,919,000 46,662,084 0.15 Times China Hldg Ltd (Reg) (Reg S) 6.75% 16Jul2023 2,140,000 17,076,421 0.05 Towngas Finance Ltd (Reg) (Reg S) Var Perp 31Dec2049 9,200,000 76,257,696 0.24 Trust F/1401 Ser Regs (Reg) (Reg S) 4.869% 15Jan2030 7,745,000 66,385,506 0.21 Trust F/1401 Ser Regs (Reg) (Reg S) 6.39% 15Jan2050 9,355,000 85,269,113 0.27 TSMC Global Ltd Ser Regs (Reg S) 2.25% 23Apr2031 5,000,000 39,114,548 0.12 Ultratech Cement Ltd Ser Regs (Reg) (Reg S) 2.8% 16Feb2031 6,000,000 45,147,367 0.14 Unigel Luxembourg Sa Ser Regs (Reg S) 8.75% 01Oct2026 2,500,000 21,075,740 0.07 United Overseas Bank Ltd Ser Emtn (Reg) (Reg S) Var Perp 31Dec2049 4,304,000 34,986,801 0.11 United Overseas Bank Ltd Ser Gmtn (Reg) (Reg S) Var 16Mar2031 5,000,000 38,636,657 0.12 United Overseas Bank Ltd Ser Regs (Reg) (Reg S) Var 14Oct2031 3,228,000 25,122,812 0.08 United Overseas Bank Ltd Ser Regs (Reg) (Reg S) Var 15Apr2029 7,000,000 57,912,351 0.18 US Treasury Bill 0% 29Jul2021 4,000,000 31,062,375 0.10 163 Schroder Asian Asset Income Fund Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Vanke Real Estate HK Ser Emtn (Reg) (Reg S) 3.5% 12Nov2029 3,000,000 24,172,722 0.08 Vanke Real Estate HK Ser Emtn (Reg) (Reg S) 3.975% 09Nov2027 6,800,000 56,812,458 0.18 Vanke Real Estate HK Ser Emtn (Reg) (Reg S) 4.2% 07Jun2024 2,999,000 25,010,829 0.08 Vanke Real Estate HK Ser Emtn (Reg) (Reg S) 5.35% 11Mar2024 5,000,000 42,612,500 0.14 Vanke Real Estate HK Ser Emtn (Reg) (Reg S) Frn 25May2023 9,303,000 72,597,033 0.23 VM Holding SA Ser Regs 5.375% 04May2027 2,250,000 18,813,878 0.06 Weichai Intl Hk Energy (Reg) (Reg S) Var Perp 29Dec2049 7,000,000 55,377,989 0.18 West China Cemenet Ltd (Reg) (Regs) 4.95% 08Jul2026 1,356,000 10,675,287 0.03 Westwood Grp Hold Ltd Ser Emtn (Reg) (Reg S) 3.8% 20Jan2031 2,060,000 16,114,194 0.05 Wheelock Mtn Bvi Ltd Ser Emtn (Reg) (Reg S) 2.375% 25Jan2026 10,000,000 77,745,478 0.25 WYNN Macau Ltd Ser Regs (Reg) (Reg S) 5.625% 26Aug2028 1,460,000 11,855,500 0.04 Yan Gang Ltd (Reg) (Reg S) 1.9% 23Mar2026 3,000,000 23,290,398 0.07 Yango Justice Intl (Reg) (Regs) 7.5% 15Apr2024 1,113,000 8,373,285 0.03 Yanlord Land HK Co Ltd (Reg) (Reg S) 5.125% 20May2026 3,795,000 30,123,279 0.10 Yanlord Land HK Co Ltd (Reg) (Reg S) 6.8% 27Feb2024 750,000 6,130,279 0.02 Yuzhou Group (Reg) (Reg S) 7.85% 12Aug2026 1,789,000 10,888,666 0.03 Yuzhou Properties Co Ltd (Reg) (Reg S) 8.3% 27May2025 3,246,000 21,521,287 0.07 Zhenro Properties Group (Reg) (Reg S) 5.95% 18Nov2021 1,147,000 8,922,956 0.03 Zhenro Properties Group (Reg) (Reg S) 7.35% 05Feb2025 2,078,000 15,450,724 0.05 Zhenro Properties Group (Reg) (Reg S) 7.875% 14Apr2024 3,500,000 27,247,040 0.09 Zhenro Properties Group (Reg) (Reg S) 8.3% 15Sep2023 4,666,000 37,050,355 0.12 施罗德亚洲高息股债基金 164 Investment Portfolio (Unaudited) (Continued) 基金投资组合（未经审核）（续） As at 30th June 2021 截至二零二一年六月三十日 Currency 货币 Investments 投资项目 Holdings 份额数目 Fair value 公允值 HK$ 港元 % of net asset value 占净资产百分比 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Zhenro Properties Group (Reg) (Reg S) 9.15% 06May2023 700,000 5,667,129 0.02 Zhongan Online P&C Insur (Reg) (Reg S) 3.125% 16Jul2025 7,025,000 54,725,854 0.17 Zhongliang Holdings (Reg) (Reg S) 7.5% 31Jan2022 1,570,000 11,631,364 0.04 Zhongliang Holdings (Reg) (Reg S) 9.5% 29Jul2022 2,364,000 17,483,872 0.06 UNLISTED/QUOTED DEBT SECURITIES 非上市╱掛牌債務證券 RENMINBI 人民币 22,822,086 0.07 Henderson Land Mtn Ltd Ser Emtn (Reg S) 3.3% 13May2023 19,000,000 22,822,086 0.07 UNITED STATES DOLLAR 美元 289,019,461 0.92 Embotelladora Andina Sa Ser Regs (Reg S) 3.95% 21Jan2050 4,705,000 38,924,094 0.12 Grupo Bimbo Sab De Cv Ser Regs (Reg) Var Perp 29Dec2049 7,850,000 64,376,095 0.21 Prumo Participacoes E In Ser 144A (Reg) (Reg S) 7.5% 31Dec2031 7,508,000 56,940,116 0.18 Prumo Participacoes E In Ser 144A (Reg) 7.5% 31Dec2031 3,519,000 26,687,836 0.08 Scentre Group Trust 2 Ser Regs (Reg S) Var 24Sep2080-1 6,772,000 56,205,922 0.18 Scentre Group Trust 2 Ser Regs (Reg S) Var 24Sep2080-2 5,535,000 45,885,398 0.15 TOTAL INVESTMENTS AT FAIR VALUE 投资总市值 29,915,452,234 95.42 OTHER NET ASSETS 其他净资产 1,435,730,162 4.58 NET ASSETS ATTRIBUTABLE TO UNITHOLDERS AS AT 30TH JUNE 2021 截至二零二一年六月三十日净资产 31,351,182,396 100.00 TOTAL INVESTMENTS AND DERIVATIVE FINANCIAL INSTRUMENTS, AT COST 总投資及衍生金融工具以成本計 26,419,664,559 Note: Investments are accounted for on a trade date basis. 注：投资乃以交易日为基准。 165 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) 投资组合变动（未经审核） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Country/Territory 国家╱地区 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED EQUITIES 上市股票 AUSTRALIA 澳大利亚 AGL Energy Ltd Ord Npv – (1,531,258) – ANZ Banking Group Ltd – (1,365,826) – Ausnet Services Ord Npv 2,856,856 (22,230,585) – Australian Stock Exchange Ltd 33,734 (234,270) – BHP Group Ltd 250,429 (35,146) – Cochlear Limited 29,487 (14,720) – Computershare Limited 549,130 (589,676) 40,546 CSL Limited 40,091 (17,736) – Endeavour Group Ltd/Australia Ord Npv 108,997 – – Fortescue Metals Group Limited 2,832,263 – – Incitec Pivot Ltd Ord Npv 1,668,158 (1,668,158) – James Hardie Industries SE Receipt Npv 245,415 (124,077) – National Australia Bank Ltd – (1,420,609) – Resmed Inc Chess Depositary Interests (10 Cdi Reps 1 Ord Shs) 274,087 (179,280) – Rio Tinto Limited Ord Npv 141,298 – – Shopping Centres Australasia Property Group REIT Npv 727,598 (9,534,804) – Spark Infrastructure Group Ord Npv 1,681,351 (12,105,772) – Stockland – (11,171,339) – Telstra Corporation Limited – (9,607,052) – Transurban Group – (1,814,422) – Vicinity Centres – REIT – (10,726,693) – Westpac Banking Corporation – (2,248,363) – Woolworths Group Ltd Ord Npv 108,997 – – HONG KONG 香港 AIA Group Ltd 1,426,600 (719,600) – Alibaba Group Holding Ltd Ord USD0.000003125 884,800 (258,700) – Anhui Kouzi Distillery Co Ltd -A Cc Ord CNY1 716,305 (605,000) – BOC Hong Kong Holdings Ltd Ord Npv 7,477,500 – – Chacha Food Co Ltd-A Szhk 704,677 – – China Construction Bank H Shs Ord CNY1 1,831,000 (29,507,000) – China Mengniu Dairy Company Limited 1,755,000 (474,000) – China Mobile Ltd 153,000 (2,812,000) – China Pacific Insurance Gr Co Ltd H Shs 2,588,800 (351,800) – China Petroleum and Chemical Corporation-H – (36,846,000) – China Resources Land Limited HKD0.1 1,368,000 (1,368,000) – China Resources Mixc Lifestyle Ltd – (1,615) 1,615 China Resources Mixc Lifestyle Services Ltd Ord HKD0.00001 1,615 (1,615) – China Tourism Group Duty Free Corporation Limited – Cc Ord CNY1 817,586 (13,000) – 施罗德亚洲高息股债基金 166 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Country/Territory 国家╱地区 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED EQUITIES (Continued) 上市股票（续） HONG KONG (Continued) 香港（续） Fortune REIT Npv – (22,915,000) – Hk Electric Investments – Ss 2,879,000 (26,149,500) – HKBN Ltd Ord HKD0.0001 1,001,000 – – Hkt Trust & Hkt Ltd Ord HKD 0.0005 8,487,000 (13,164,000) – Industrial and Commercial Bank of China H Shs Ord CNY1 9,804,000 (29,613,000) – JD.com Inc – Cl A Ord USD0.00002 251,050 (98,250) – Kuaishou Technology Ord USD0.000005300 45,900 (45,900) – Li Ning Co Ltd Ord HKD0.1 1,537,000 (442,500) – Link REIT 864,600 (1,940,700) – Meituan Ord HKD0.000010000 211,500 (140,400) – Midea Group Co Ltd 328,967 (164,500) – Ping An Insurance (Group) Company of China Limited H Shares HKD1 1,052,000 (587,000) – Power Assets Holdings Ltd Ord HKD1 780,500 (2,545,500) – Sands China Ltd Ord USD0.01 1,044,400 (2,540,800) – Shandong Weigao Group Medical Polymer Co Ltd H Shs Ord CNY0.1 756,000 (756,000) – Shanghai Jahwa United Co Ord CNY1 Cc 968,392 (424,200) – Skshu Paint Co Ltd – Cc Ord CNY1 149,613 (149,613) – Swire Properties Ltd Ord HKD1 1,644,600 (202,800) – Techtronic Industries Co Ltd 556,500 (270,500) – Tencent Hldgs Ltd HKD0.0002 535,700 (90,900) – Toly Bread Co Ltd Cc Ord CNH1 228,750 – – Tsingtao Brewery Co Ltd ‘H’ Shares 864,000 (166,000) – Xiamen Faratronic Co Ltd Ord CNY 1 Cc 241,500 (51,100) – Yum China Holdings Inc Ord USD0.010000000 123,450 (32,150) – Zhejiang Sanhua Co Ltd-A Ord CNY 1 Szhk 1,567,624 (461,700) – INDIA 印度 Bharti Airtel Ltd Ord INR5 (Demat) (Nse) 423,763 – – Britannia Industries Ltd Ord INR1 21,207 (21,207) – Brookfield India Real Estate REIT Ord Npv 1,658,800 – – Cipla Ltd Ord INR2% 554,140 – – Embassy Office Parks 962,800 – (962,800) Embassy Office Parks REIT 343,800 (282,200) 962,800 Escorts Limited 130,219 – – HDFC Bank Limited Ord INR1 396,017 (113,578) – ICICI Prudential Life Insurance Company Limited Ord Npv 206,467 – – India Grid Trust 5,148,927 (734,832) – India Grid Trust Rts Apr2021 – (4,155,543) 4,155,543 167 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Country/Territory 国家╱地区 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED EQUITIES (Continued) 上市股票（续） INDIA (Continued) 印度（续） Infosys Ltd Ord INR5 232,784 – – ITC Ltd Ord INR1.000000000 – (1,415,951) – Mahindra & Mahindra Ltd Ord INR5 249,444 (249,444) – Maruti Suzuki India Ltd Ord INR5 54,977 (54,977) – Mindspace Business Parks REI REIT Ord Npv 891,600 (891,600) – NTPC Ltd Ord INR10.000000000 6,320,263 (15,232,524) – Power Grid Corp of India Ltd Ord INR10.000000000 – (19,502,209) – Powergrid Infra Invit Dm 12,653,300 – – Reliance Industries Ltd Ord INR10 127,105 – – Wipro Ltd Ord INR2.000000000 1,084,260 – – INDONESIA 印尼 Bank Mandiri Persero Tbk Pt Ord IDR250 – (12,452,400) – Telkom Indonesia Persero Tbk Ord IDR 50 – (146,243,200) – JAPAN 日本 Advance Residence Investment Corp REIT Npv 8 (104) – AEON REIT Investment Corp REIT Npv 136 (318) – Daiwa House REIT Investment Corp REIT Npv 559 (97) – Daiwa Office Investment Corp REIT Npv 35 (33) – Daiwa Securities Living Inve REIT Ord Npv 35 (440) – Frontier Real Estate Investment Corporation 27 (56) – Fukuoka REIT Corp Ord Npv 176 (107) – GLP J-REIT Npv 33 (524) – Invesco Office J-REIT Inc REIT Npv 921 (7,885) – Japan Excellent Inc REIT Npv 79 (193) – Japan Hotel REIT Investment Ord Npv 592 (154) – Japan Metropolitan Fund Investment Corporation Ord Npv 1,980 (374) – Kenedix Office Investment Corporation Ord Npv 27 (62) – Lasalle Logiport REIT – REIT – (1,153) – MCUBS Midcity Investment Corp – REIT 116 (475) (1,741) Nippon Accommodations Fund Inc REIT 4 (49) – Nippon Building Fund Inc 374 (26) – Nomura Real Estate Master Fund – REIT 122 (270) – Premier Investment Company Npv 91 (285) – Sekisui House REIT Inc – REIT 193 (240) – NEW ZEALAND 新西兰 Spark New Zealand Ltd Ord Npv 1,834,371 (5,248,580) – 施罗德亚洲高息股债基金 168 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Country/Territory 国家╱地区 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED EQUITIES (Continued) 上市股票（续） SINGAPORE 新加坡 Ascendas Real Estate Investment Trust 1,243,166 (13,587,500) – Ascendas REIT Rights Rts Dec2020 – (604,766) 604,766 Capitaland Integrated Commercial Trust REIT Ord Npv 1,663,400 (16,487,400) 33,791,085 DBS Group Holdings Ltd Ord Npv 152,100 – – Frasers Centrepoint Trust REIT Npv 4,308,607 (7,452,800) – Frasers Centrepoint Trust Rts (Oct2020) – (8,234,070) 8,234,070 Mapletree Commercial Trust REIT Npv – (18,410,200) – Mapletree Industrial Trust REIT Npv 3,991,120 (13,850,500) – Mapletree Logistics Trust REIT Npv 834,245 (2,753,500) – Mapletree Logistics Trust Rts (Dec2020) – (306,445) 306,445 Mapletree North Asia Commercial REIT – (40,236,200) – Oversea-Chinese Banking Corp Ltd Ord SGD0.5 896,793 (576,397) – Singapore Telecommunications Ltd Ord Npv – (32,273,800) – Soilbuild Business Space REIT – (31,976,230) – Suntec REIT – (29,350,200) – SOUTH KOREA 南韩 Hana Financial Holdings Ord Npv 185,495 – – LG Chemical Ord KRW5000 18,438 (8,395) – LG Electronics Inc 154,393 (96,256) – Lotte REIT Co Ltd Ord Npv 507,769 – – Lotte REIT Co Ltd Rts Mar2021 – (1,015,538) 1,015,538 NAVER Corp Ord KRW100 144,992 (3,334) – NCSoft Corporation 10,398 (6,366) – Samsung Electronics Co Ltd Ord KRW100 873,402 (36,575) – SK Bioscience Co Ltd Ord KRW500.000000000 14,000 (7,508) – SK Telecom Company Limited 43,570 (61,026) – TAIWAN 台湾 ASE Technology Holding Co Ltd Ord TWD10 5,219,000 (678,000) – ASUSTek Computer Inc 2,673,000 – – Mediatek Inc 1,672,000 – – Novatek Microelectronics Corp Ltd 345,000 (1,702,000) – Realtek Semiconductor Corp 749,000 (472,000) – Taiwan Semiconductor Mfg Co. Ltd 2,203,000 (561,000) – THAILAND 泰国 Bangkok Bank Pcl Ord Nvdr THB10 – (2,016,000) – Bangkok Bank Pcl Ord THB10 (Fr) – (837,000) – Electricity Generating Pcl Ord Nvdr THB10 – (363,000) – Intouch Holdings Pcl – (11,735,500) – Land and Houses Pcl Ord Nvdr THB1 2,012,000 (28,842,500) – 169 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Country/Territory 国家╱地区 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED EQUITIES (Continued) 上市股票（续） UNITED STATES OF AMERICA 美国 DIDI Global Inc ADR (1 ADR Reps .2500 ORD Shrs) 106,040 – – ICICI Bank Limited Sponsored Adr (1 Adr Represents 2 Ordinary Shares) 432,589 – – Vipshop Hldgs Ltd Sponsored Adr USD0.0001 215,183 – – UNLISTED EQUITIES 非上市股票 AUSTRALIA 澳大利亚 Computershare Limited Ord Npv 40,546 – (40,546) SINGAPORE 新加坡 Mapletree Industrial Trust REIT (Jun2021) – (628,920) 628,920 UNLISTED INVESTMENT FUNDS 非上市投资基金 HONG KONG 香港 Schroder Umbrella Fund II – Schroder China Asset Income Fund – USD Class I Acc 1,162,070 (3,199,653) – LUXEMBOURG 卢森堡 Schroder International Selection Fund – Asian Equity Yield USD Class I Acc 1,861,553 (804,765) – Schroder International Selection Fund – Emerging Multi Asset Income – USD Class I Acc – (148,222) – Schroder International Selection Fund – Dynamic Indian Income Fund USD Class I Acc – (35,270) – 施罗德亚洲高息股债基金 170 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES 上市债务证券 HONG KONG DOLLAR 港元 Angang Steel Co Ltd (Reg) (Regs) 0% Conv 25May2023 – (18,000,000) – China Evergrande Group (Reg S) 4.25% Conv 14Feb2023 – (56,000,000) – China Evergrande Group (Reg) (Reg S) 12% 22Jan2024 – (1,976,000) – Link 2019 Cb Ltd (Reg) (Reg S) 1.6% Conv 03Apr2024 8,000,000 – – Smart Insight Intl Ltd (Reg) (Reg S) 4.5% Conv 05Dec2023 – (32,000,000) – RENMINBI 人民币 Bank of China/Hong Kong Ser Emtn (Reg) (Reg S) 2.8% 14Jan2023 4,650,000 – – Chengdu Rail Transit Ser Mtn (Reg) 4.4% 06Mar2024 (Interbank) 15,000,000 – – China Development Bk/HK Ser Emtn (Reg) (Reg S) 2.65% 18Jun2024 26,000,000 – – China Resources Land Ltd Ser Mtn (Reg) 5.23% 04Apr2023 (Interbank) 30,000,000 – – Chongqing Rail Transit G Ser Mtn (Reg) 4.09% 20Sep2024 (Interbank) 10,000,000 – – CIFI Holdings Group (Reg) (Reg S) 5.85% 19Aug2023 10,000,000 – – Guangzhou Plc Trans Ser Inbk (Reg) Var 21Sep2026 (Interbank) 30,000,000 – – Hubei Communications Inv Ser Mtn (Reg) 3.95% 11Dec2024 (Interbank) 30,000,000 – – Nanjing Metro Ser Inbk (Reg) 3.98% 19Sep2024 (Interbank) 5,000,000 – – Petrochina Co Ltd Ser Mtn (Reg) 3.45% 12May2021(Interbank) – (10,000,000) – SH Powerlong Ind Dev Ser Mtn (Reg) Var 27Aug2023 (Interbank) 20,000,000 – – Shenzhen Energy Group Co Ser Inbk (Reg) Var 24Jun2029 (Interbank) 10,000,000 – – Wuhan Metro Ser Mtn (Reg) Var 30Jul2033(Interbank) 20,000,000 – – 171 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR 美元 10 Renew Power Subsidiar Ser Regs (Reg) (Reg S) 4.5% 14Jul2028 1,973,000 – – AAC Technologies Holding (Reg) (Reg S) 2.625% 02Jun2026 732,000 – – AAC Technologies Holding (Reg) (Reg S) 3% 27Nov2024 – (10,700,000) – AAC Technologies Holding (Reg) (Reg S) 3.75% 02Jun2031 1,760,000 – – ABM Investama Tbk PT 7.125% 01Aug2022 – (9,140,000) – ABQ Finance Ser Emtn (Reg) (Reg S) 3.125% 24Sep2024 – (2,500,000) – Abu Dhabi Govt Int’L Ser Regs (Reg) (Reg S) 3.125% 16Apr2030 – (3,498,000) – Abu Dhabi National Energ Ser Regs (Reg) (Reg S) 3.4% 29Apr2051 1,895,000 (1,895,000) – Abu Dhabi National Energ Ser Regs (Reg) (Reg S) 4.375% 23Apr2025 – (4,500,000) – Abu Dhabi Ports Co Pjsc Ser Emtn (Reg) (Reg S) 2.5% 06May2031 3,364,000 – – AC Energy Fin Intl Ltd Ser Emtn (Reg) (Reg S) 5.1% Perp 31Dec2049 2,226,000 (2,226,000) – Adani Ports and Special 3.1% 02Feb2031 3,842,000 (3,842,000) – AES Gener Sa Ser Regs (Reg) (Reg S) Var 26Mar2079 413,000 (3,173,000) – AES Panama Generation Hl Ser Regs (Reg) (Regs) 4.375% 31May2030 2,220,000 (2,220,000) – African Export-Import Ba Ser Regs (Reg S) 3.994% 21Sep2029 – (4,800,000) – Agile Group Holdings Ltd (Reg) (Reg S) 5.5% 17May2026 6,950,000 – – Agile Group Holdings Ltd (Reg) (Reg S) 6.05% 13Oct2025 2,000,000 – – Agile Group Holdings Ltd (Reg) (Reg S) 8.5% 18Jul2021 – (513,000) – AI Candelaria Spain Slu Ser Regs (Reg) (Reg S) 5.75% 15Jun2033 2,967,000 – – AIA Group Ltd Ser Gmtn (Reg) (Reg S) Var Perp 31Dec2049 4,500,000 – – AIA Group Ltd Ser Regs (Reg) (Reg S) 3.2% 16Sep2040 3,085,000 – – AKCB Finance Ltd (Reg) (Reg S) 4.75% 09Oct2023 – (5,030,000) – 施罗德亚洲高息股债基金 172 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Aldar Sukuk Ltd (Reg) (Reg S) 4.75% 29Sep2025 – (2,222,000) – Alibaba Group Holding (Reg) 2.125% 09Feb2031 2,020,000 – – Alibaba Group Holding 2.7% 09Feb2041 1,569,000 – – Alibaba Group Holding 3.15% 09Feb2051 1,147,000 – – Alibaba Group Holding 3.25% 09Feb2061 1,147,000 – – Alpha Holding Sa Ser Regs (Reg S) 9% 10Feb2025 – (8,175,000) – Alpha Holding Sa Ser Regs (Reg) (Regs) 10% 19Dec2022 – (1,600,000) – Anton Oilfield Serv Grp/ (Reg) (Reg S) 9.75% 05Dec2020 – (5,600,000) – APL Realty Hldg Pte Ltd 5.95% 02Jun2024 – (3,531,000) – Arab National Bank (Reg S) Var 28Oct2030 1,966,000 (1,966,000) – Atento Luxco 1 Sa Ser Regs (Reg S) 8% 10Feb2026 1,618,000 – – Atento Luxco 1 Sa Ser Regs 6.125% 10Aug2022 – (5,896,000) – Axiata SPV2 Bhd Ser Emtn (Reg S) 2.163% 19Aug2030 2,010,000 (2,010,000) – Baidu Inc (Reg) 3.075% 07Apr2025 – (2,013,000) – Baidu Inc (Reg) 3.425% 07Apr2030 – (1,123,000) – Bancolombia Sa (Reg) Var 18Dec2029 – (3,534,000) – Bangkok Bank Pcl/HK Ser Regs (Reg) (Reg S) Var 25Sep2034 – (12,000,000) – Bangkok Bank Pcl/HK Ser Regs (Reg) (Regs) 4.45% 19Sep2028 – (1,287,000) – Bank Mandiri Pt Ser Emtn (Reg S) 2% 19Apr2026 1,410,000 – – Bank Mandiri Pt Ser Emtn (Reg) (Reg S) 4.75% 13May2025 2,000,000 – – Bank of Communication HK (Reg) (Regs) Var 08Jul2031 7,220,000 – – BBVA Banco Continental Ser Regs Var 22Sep2029 – (1,261,000) – BDO Unibank Inc Ser Emtn (Reg) (Reg S) 2.125% 13Jan2026 7,347,000 – – Bharti Airtel Ltd Ser Regs (Regs) 3.25% 03Jun2031 3,000,000 – – BHP Billiton Fin USA Ltd Ser Regs (Regs) Var 19Oct2075 – (12,800,000) – Blossom Joy Ltd (Reg) (Reg S) Var Perp 31Dec2049 4,463,000 – – Bluestar Fin Holdings (Reg) (Reg S) Var Perp 31Dec2049 1,535,000 (4,300,000) – Braskem Netherlands Ser Regs (Reg) (Reg S) 4.5% 31Jan2030 – (6,275,000) – Braskem Netherlands Ser Regs (Reg) (Reg S) Var 23Jan2081 8,229,000 – – 173 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Burgan Bank (Reg) (Reg S) Var 15Dec2031 7,500,000 – – CAS Capital No1 Ltd (Reg) (Reg S) Var Perp 31Dec2049 5,362,000 – – CBQ Finance Ltd Ser Emtn (Reg S) 2% 12May2026 6,532,000 – – CCCI Treasure Ltd Frn Perp 31Dec2049 – (9,976,000) – CDBL Funding (Regs) 4.25% 02Dec2024 – (7,000,000) – CDBL Funding 1 Ser Emtn (Reg) (Reg S) 3.5% 24Oct2027 5,000,000 – – Celulosa Arauco Constitu Ser Regs (Reg) (Reg S) 4.25% 30Apr2029 – (1,500,000) – CEMEX SAB de CV Ser Regs (Reg S) 5.2% 17Sep2030 1,721,000 (1,721,000) – Cemex Sab De Cv Ser Regs (Reg) (Reg S) 3.875% 11Jul2031 2,121,000 – – Cemex Sab De Cv Ser Regs (Reg) (Reg S) Var Perp 31Dec2049 2,650,000 – – Central Chn Real Estate (Reg) (Reg S) 6.875% 10Feb2021 – (3,394,000) – Central Chn Real Estate (Reg) (Reg S) 7.65% 27Aug2023 3,000,000 (1,854,000) – CGNPC International Ltd Ser Regs (Reg) 4% 19May2025 – (4,600,000) – CH OVS Grand Oce Finance (Reg) (Reg S) 4.875% 01Jun2021 – (1,845,000) – Champion Path Holdings (Reg) (Reg S) 4.5% 27Jan2026 672,000 – – Champion Path Holdings (Reg) (Reg S) 4.85% 27Jan2028 957,000 – – Charming Light Inv Ser Emtn (Regs) 5% 03Sep2024 2,500,000 – – China Aoyuan Group Ltd (Reg) (Reg S) 4.8% 18Feb2021 – (1,438,000) – China Aoyuan Group Ltd (Reg) (Reg S) 5.98% 18Aug2025 1,000,000 (1,000,000) – China Aoyuan Group Ltd (Reg) (Reg S) 6.2% 24Mar2026 2,000,000 (2,000,000) – China Cinda 2020 I Mngmn Ser Emtn (Reg) (Reg S) 3% 20Jan2031 2,000,000 (2,000,000) – China Cinda Finance 2017 Ser Emtn (Reg) (Regs) 3.875% 08Feb2023 – (4,000,000) – 施罗德亚洲高息股债基金 174 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） China Evergrande Group (Br) (Reg S) 8.75% 28Jun2025 2,000,000 (2,000,000) – China Evergrande Group (Reg) (Reg S) 11.5% 22Jan2023 – (2,815,000) – China Evergrande Group (Reg) (Reg S) 7.5% 28Jun2023 2,000,000 (3,500,000) – China Evergrande Group (Reg) (Reg S) 8.25% 23Mar2022 – (1,500,000) – China GRT Wall Intl III Ser Emtn (Reg) (Regs) 2.625% 27Oct2021 2,500,000 – – China Hongqiao Group Ltd (Reg) (Reg S) 6.25% 08Jun2024 1,941,000 – – China Hongqiao Group Ltd (Reg) (Reg S) 7.125% 22Jul2022 – (7,884,000) – China Hongqiao Group Ltd (Reg) (Reg S) 7.375% 02May2023 – (1,000,000) – China Life Insurance Co Var (Reg S) 03Jul2075 – (19,000,000) – China Mengniu Dairy (Reg) (Reg S) 1.5% Conv 24Jun2023 – (2,600,000) – China Oil & Gas Group (Reg) (Reg S) 4.7% 30Jun2026 2,421,000 – – China Resources Land Ltd Ser Emtn (Reg) (Reg S) 3.75% 26Aug2024 2,600,000 – – China SCE Grp Hldgs Ltd (Reg) (Reg S) 5.95% 29Sep2024 900,000 – – China SCE Grp Hldgs Ltd (Reg) (Reg S) 6% 04Feb2026 2,500,000 – – China SCE Grp Hldgs Ltd (Reg) (Reg S) 7.25% 19Apr2023 – (4,000,000) – China SCE Grp Hldgs Ltd (Reg) (Reg S) 7.45% 17Apr2021 – (3,000,000) – China State Con Fin III (Reg) (Reg S) Var Perp 31Dec2049 – (1,943,000) – Chn Aoyuan Property Grp (Reg) (Reg S) 7.95% 07Sep2021 – (1,481,000) – Chn Clean Energy Develop (Reg) (Regs) 4% 05Nov2025 – (4,000,000) – CICC HK Finance 2016 Mtn Ser Emtn (Reg S) 1.75% 10Aug2023 1,588,000 (1,588,000) – CICC HK Finance 2016 Mtn Ser Emtn (Reg) (Reg S) 1.625% 26Jan2024 5,000,000 – – 175 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） CICC HK Finance 2016 Mtn Ser Emtn (Reg) (Reg S) 2% 26Jan2026 7,000,000 – – CIFI Holdings Group (Reg) (Reg S) 4.375% 12Apr2027 7,788,000 – – CIFI Holdings Group (Reg) (Reg S) 5.25% 13May2026 1,000,000 – – CIFI Holdings Group (Reg) (Reg S) 5.95% 20Oct2025 4,000,000 – – Cindai Capital Ltd (Reg) (Regs) 0% 08Feb2023 – (1,474,000) – CK Hutchison Intl 20 Ltd Ser Regs (Reg) (Reg S) 2.5% 08May2030 – (1,584,000) – CK Hutchison Intntl 21 Ser Regs (Reg S) 2.5% 15Apr2031 3,496,000 – – CK Hutchison Intntl 21 Ser Regs (Reg S) 3.125% 15Apr2041 2,305,000 – – CLP Power HK Financing Ser Emtn (Reg) (Reg S) 2.125% 30Jun2030 – (2,355,000) – CMB International Leasin Ser Emtn (Reg) (Reg S) 2% 04Feb2026 1,772,000 – – CMB International Leasin Ser Emtn (Reg) (Reg S) 2.875% 04Feb2031 6,000,000 – – CNAC HK Finbridge Co Ltd (Reg) (Reg S) 3.5% 19Jul2022 – (4,000,000) – CNAC HK Finbridge Co Ltd (Reg) (Reg S) 3.875% 19Jun2029 – (15,000,000) – CNAC HK Finbridge Co Ltd (Reg) (Reg S) 4.75% 19Jun2049 – (2,788,000) – CNAC HK Finbridge Co Ltd (Reg) (Reg S) Var Perp 31Dec2049 6,503,000 (6,503,000) – CNOOC Finance 2011 Ltd Ser Regs 5.75Pct 26Jan2041 – (5,000,000) – CNOOC Finance 2013 Ltd 3.3% 30Sep2049 – (4,017,000) – CNOOC Finance 2014 Ulc 4.875% 30Apr2044 – (4,000,000) – CNRC Capitale Ltd (Reg) (Regs) Var Perp 31Dec2049 792,000 (1,150,000) – Coca-Cola FEMSA SAB CV (Reg) 1.85% 01Sep2032 3,945,000 (3,945,000) – Colombia Telecomunicacio Ser Regs (Regs) 4.95% 17Jul2030 2,340,000 – – Comision Federal De Elec Ser Regs (Reg S) 3.348% 09Feb2031 5,109,000 – – 施罗德亚洲高息股债基金 176 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Comision Federal De Elec Ser Regs (Reg S) 4.677% 09Feb2051 2,612,000 – – Commercial Bank of Dubai (Reg) (Reg S) Var Perp 31Dec2049 5,537,000 (5,537,000) – Corp Financiera De Desar Ser Regs (Reg S) 2.4% 28Sep2027 3,260,000 (3,260,000) – COSL Singapore Capital (Reg) (Reg S) 2.5% 24Jun2030 – (6,597,000) – Country Garden Hldgs (Reg) (Reg S) 3.125% 22Oct2025 5,289,000 – – Country Garden Hldgs (Reg) (Reg S) 3.875% 22Oct2030 3,641,000 – – Country Garden Hldgs (Reg) (Reg S) 4.2% 06Feb2026 2,500,000 – – Country Garden Hldgs (Reg) (Reg S) 4.8% 06Aug2030 3,050,000 – – CRCC Chengan Ltd (Reg) (Reg S) Var Perp 31Dec2049 – (4,800,000) – Credito Real Sab De Cv Ser Regs (Reg) (Reg S) 9.5% 07Feb2026 – (2,500,000) – CSSC Capital 2015 Ltd (Reg) (Reg S) 2.5% 13Feb2025 – (4,500,000) – DBS Group Holdings Ltd Ser Gmtn (Reg S) Var Perp 29Dec2049 2,713,000 – – DBS Group Holdings Ltd Ser Gmtn (Reg) (Reg S) Var 10Mar2031 5,497,000 – – DBS Group Holdings Ltd Ser Gmtn (Reg) (Reg S) Var Perp 31Dec2049 2,627,000 – – DBS Group Holdings Ltd Ser Regs (Reg) Var 11Dec2028 7,000,000 – – DIB Tier 1 Sukuk 4 (Reg S) Var Perp 31Dec2049 1,009,000 (1,009,000) – DUA Capital Ltd (Reg) (Reg S) 1.658% 11May2026 1,482,000 (1,482,000) – DUA Capital Ltd (Reg) (Reg S) 2.78% 11May2031 4,000,000 – – Dubai Dof Sukuk Ltd Ser Emtn (Reg S) 2.763% 09Sep2030 2,664,000 (2,664,000) – Eastern Creation II Inve Ser Emtn (Reg) (Reg S) 1% 10Sep2023 417,000 – – EHI Car Services Ltd (Reg S) 5.875% 14Aug2022 – (2,249,000) – Elect Global Inv Ltd (Reg) (Reg S) 4.85% Perp 31Dec2049 3,311,000 – 1,244,000 177 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Elect Global Inv Ltd Ser Sep (Reg) (Reg S) 4.85% Perp 31Dec2049 1,244,000 – (1,244,000) Emaar Sukuk Ltd 3.635% 15Sep2026 – (1,500,000) – Emaar Sukuk Ltd Ser Emtn (Reg) (Reg S) 3.875% 17Sep2029 – (4,202,000) – Embraer Netherlands Fina Ser Regs (Reg S) 6.95% 17Jan2028 1,842,000 (1,842,000) – Emirates Nbd Tier 1 (Regs) (Reg) 2014 Var Perp 17Dec2049 – (8,400,000) – Empresa De Los Ferrocarr Ser Regs (Reg S) 3.068% 18Aug2050 1,235,000 – – Engie Energia Chile Sa Ser Regs (Reg) (Reg S) 3.4% 28Jan2030 – (3,189,000) – Equate Petrochemical Bv 3% 3Mar2022 – (4,700,000) – Export-Import Bk India Ser Regs (Reg S) 3.25% 15Jan2030 6,000,000 – – Export-Import Bk Thailnd Ser Emtn (Reg) (Reg S) 1.457% 15Oct2025 3,685,000 (3,685,000) – Fantasia Holdings Group (Reg S) 7.95% 05Jul2022 600,000 (600,000) – Fantasia Holdings Group (Reg) (Reg S) 9.25% 28Jul2023 945,000 (945,000) – Fantasia Holdings Group (Reg) (Reg S) 9.875% 19Oct2023 2,000,000 (2,000,000) – Formosa Group Cayman Ltd (Reg) (Regs) 3.375% 22Apr2025 – (13,000,000) – Fortune Star Bvi Ltd (Reg) (Reg S) 5% 18May2026 4,253,000 – – Foxconn Far East Ltd (Reg) (Reg S) 2.5% 28Oct2030 3,743,000 – – Gazprom Pjsc (Gaz Fn) Ser Regs (Reg S) 3.25% 25Feb2030 – (7,431,000) – GC Treasury Centre Co Ser Regs (Reg S) 2.98% 18Mar2031 3,500,000 – – GC Treasury Centre Co Ser Regs (Reg S) 4.3% 18Mar2051 781,000 (781,000) – Gemdale Ever Prosperity (Reg) (Reg S) 6% 06Sep2021 – (10,257,000) – Genm Capital Labuan Ser Regs (Reg S) 3.882% 19Apr2031 1,731,000 – – Globe Telecom Inc (Reg) (Reg S) 2.5% 23Jul2030 4,000,000 – – Globe Telecom Inc (Reg) (Reg S) 3% 23Jul2035 4,000,000 – – 施罗德亚洲高息股债基金 178 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Globo Communicacoes Part Ser Regs (Regs) Stp 08June2025 1,252,000 (582,000) – Great Wall Intl V (Reg) (Reg S) 2.375% 18Aug2030 7,000,000 – – Greenko Dutch Bv Ser Regs (Reg S) 3.85% 29Mar2026 4,381,000 – – Greenland Glb Invst Ser Emtn (Reg) (Reg S) 6.125% 22Apr2023 4,000,000 (4,000,000) – Greenland Glb Invst Ser Emtn (Reg) (Reg S) 6.25% 16Dec2022 – (5,268,000) – Greentown China Hldgs (Reg) (Reg S) 5.65% 13Jul2025 6,346,000 (6,346,000) – Grupo Kuo SAB de CV Ser Regs (Reg) (Regs) 5.75% 07Jul2027 990,000 – – Guara Norte Sarl Ser Regs (Reg S) 5.198% 15Jun2034 1,108,000 – – Gusap Iii Lp Ser Regs (Reg) (Reg S) 4.25% 21Jan2030 – (4,800,000) – Gz Mtr Fin BVI Ser Emtn (Reg) (Reg S) 1.507% 17Sep2025 5,978,000 – – Gz Mtr Fin BVI Ser Emtn (Reg) (Reg S) 2.31% 17Sep2030 6,000,000 – – Haidilao International H (Reg) (Reg S) 2.15% 14Jan2026 708,000 – – Haitong Intl Securities (Reg) (Reg S) 3.375% 19Jul2024 3,000,000 – – Halcyon Agri Corp Ltd (Reg) (Reg S) Var Perp 31Dec2049 3,500,000 – – Hejun Shunze Investment (Reg) (Reg S) 11% 04Jun2022 – (8,628,000) 1,744,000 Hengjian Intl Invt Ltd (Reg) (Reg S) 1.875% 23Jun2025 – (1,276,000) – Hero Asia Investment Ltd (Reg) (Reg S) 1.5% 18Nov2023 500,000 (500,000) – Hidrovias Int Fin Sarl Ser Regs (Reg) (Reg S) 5.95% 24Jan2025 – (4,000,000) – HKT Capital No 4 Ltd (Reg) (Regs) 3% 14Jul2026 – (1,961,000) – HSBC Holdings Plc (Reg) Var Perp 29Mar2049 2,900,000 – – Huarong Finance 2019 Ser Emtn (Reg S) 3.875% 13Nov2029 – (3,042,000) – Huarong Finance 2019 Ser Emtn (Regs) 4.5% 29May2029 – (10,000,000) – 179 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Hyundai Capital America Ser Regs (Reg) (Reg S) 5.75% 06Apr2023 – (11,000,000) – Hyundai Motor Manu Indo Ser Emtn (Reg) (Reg S) 1.75% 06May2026 443,000 – – ICBCIL Finance Co Ltd Ser Emtn (Reg S) 3.625% 15Nov2027 5,000,000 – – India Green Energy Hldng Ser Regs (Reg S) 5.375% 29Apr2024 1,762,000 (1,762,000) – India Green Power Hold Ser Regs (Reg S) 4% 22Feb2027 10,000,000 – – Indian Oil Corp Ltd (Reg) (Reg S) 4.75% 16Jan2024 – (10,000,000) – Indian Oil Corp Ltd Ser Emtn (Reg S) 5.75% 01Aug2023 – (3,000,000) – Indian Railway Finance Ser Regs (Reg S) 3.249% 13Feb2030 6,000,000 – – Indonesia (Rep of) (Reg) 3.05% 12Mar2051 16,500,000 (16,500,000) – Indonesia (Rep of) (Reg) 3.7% 30Oct2049 8,500,000 – – Indonesia (Rep of) Ser Regs (Reg S) 1.5% 09Jun2026 5,000,000 – – Indonesia (Rep of) Ser Regs (Reg S) 2.55% 09Jun2031 6,253,000 – – Indonesia (Rep of) Ser Regs (Reg S) 3.55% 09Jun2051 2,925,000 – – Indonesia Asahan Alumini Ser Regs (Reg S) 4.75% 15May2025 – (10,000,000) – Indonesia Asahan Alumini Ser Regs (Reg S) 5.45% 15May2030 – (3,109,000) – Indonesia Asahan Alumini Ser Regs (Reg S) 5.8% 15May2050 – (2,079,000) – Industrias Penoles SAB D Ser Regs (Reg S) 4.75% 06Aug2050 780,000 (780,000) – International Container (Reg) (Reg S) 4.75% 17Jun2030 – (2,620,000) – IOCHPE-Max/Max Wheels Mx Ser Regs (Reg S) 5% 07May2028 3,182,000 – – Israel (Govt of) (Reg) (Reg S) 3.8% 13May2060 – (4,610,000) – JD.com Inc 3.375% 14Jan2030 – (1,757,000) – JGSH Philippines Ltd (Reg) (Reg S) 4.125% 09Jul2030 4,329,000 (4,329,000) – JMH Co Ltd (Reg) (Reg S) 2.5% 09Apr2031 2,611,000 – – JMH Co Ltd (Reg) (Reg S) 2.875% 09Apr2036 1,550,000 – – 施罗德亚洲高息股债基金 180 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Jollibee Worldwide Pte L (Reg S) 4.125% 24Jan2026 1,000,000 (1,000,000) – Jollibee Worldwide Pte L (Reg S) 4.75% 24Jun2030 5,000,000 (2,000,000) – Joy Trsr Assets Hld (Reg) (Reg S) 1.875% 17Nov2025 1,374,000 – – Joy Trsr Assets Hld (Reg) (Reg S) 2.75% 17Nov2030 743,000 – – JSL Europe 7.75% 26Jul2024 3,000,000 (3,000,000) – JSW Hydro Energy Ltd Ser Regs (Reg) (Reg S) 4.125% 18May2031 1,797,000 – – Kaisa Group Holdings Ltd (Reg) (Reg S) 11.25% 16Apr2025 8,337,000 (8,337,000) – Kaisa Group Holdings Ltd (Reg) (Reg S) 9.75% 28Sep2023 4,200,000 (4,200,000) – Kenbourne Invest Sa Ser Regs (Reg S) 4.7% 22Jan2028 725,000 (725,000) – Kenbourne Invest Sa Ser Regs (Reg) (Reg S) 6.875% 26Nov2024 – (3,850,000) – Kia Corp Ser Regs (Reg S) 1% 16Apr2024 1,325,000 – – Kia Corp Ser Regs (Reg S) 1.75% 16Oct2026 1,985,000 – – Kingdom of Bahrain Ser Regs (Reg) (Reg S) 5.45% 16Sep2032 2,202,000 – – Kookmin Bank Ser Regs (Reg) (Reg S) 1.75% 04May2025 – (1,435,000) – Kookmin Bank Ser Regs (Reg) (Reg S) 2.5% 04Nov2030 4,000,000 – – Krung Thai Bank/Cayman (Reg S) Var Perp 31Dec2049 2,372,000 – – KWG Group Holdings (Reg S) 7.875% 01Sep2023 3,000,000 – – KWG Group Holdings (Reg) (Reg S) 6.3% 13Feb2026 2,069,000 – – KWG Group Holdings (Reg) (Reg S) 7.4% 13Jan2027 4,000,000 – – Lamar Funding Ltd Ser Regs (Reg) 3.958% 07May2025 – (2,700,000) – Lenovo Group Ltd (Reg) (Reg S) 3.375% Conv 24Jan2024 – (8,641,000) – Lenovo Group Ltd Ser Emtn (Reg S) 5.875% 24Apr2025 2,000,000 – – Lenovo Group Ltd Ser Regs (Reg S) 3.421% 02Nov2030 1,753,000 – – LG Chem Ltd Ser Regs (Reg S) 2.375% 07Jul2031 996,000 – – 181 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Logan Group Co Ltd (Reg) (Reg S) 4.25% 12Jul2025 5,000,000 – – Logan Group Co Ltd (Reg) (Reg S) 4.85% 14Dec2026 1,746,000 – – Logan Group Co Ltd (Reg) (Reg S) 5.25% 19Oct2025 3,058,000 – – Macquarie Bank Ltd Ser Regs (Reg S) Var 03Mar2036 4,000,000 – – MAF Global Secs Ltd (Ser Regs) (Reg) 4.75% 07May2024 – (4,700,000) – Malaysia Wakala Sukuk Ser Regs (Reg) (Reg S) 3.075% 28Apr2051 1,540,000 (1,540,000) – Mdgh – Gmtn Bv Ser Regs (Reg S) 3.7% 07Nov2049 – (6,000,000) – MDGH GMTN RSC Ltd Ser Emtn (Reg) (Reg S) 3.4% 07Jun2051 2,698,000 – – MDGH GMTN RSC Ltd Ser Gmtn (Reg) (Reg S) 2.5% 03Jun2031 2,210,000 – – Megaworld Corp (Reg) (Reg S) 4.125% 30Jul2027 5,000,000 (5,000,000) – Meglobal Canada Ulc Ser Regs (Reg S) 5% 18May2025 – (5,000,000) – Meglobal Canada Ulc Ser Regs (Reg S) 5.875% 18May2030 – (2,398,000) – Meituan Ser Regs (Reg) (Reg S) 2.125% 28Oct2025 505,000 (505,000) – Meituan Ser Regs (Reg) (Reg S) 3.05% 28Oct2030 1,209,000 (1,209,000) – Metropolitan Bank & Trus Ser Emtn (Reg S) 2.125% 15Jan2026 6,905,000 – – Metropolitan Light Co Ser Regs (Reg) 5.5% 21Nov2022 – (9,596,000) – MGM China Holdings Ltd Ser Regs (Reg S) 4.75% 01Feb2027 2,138,000 – – Millicom Intl Cellular Ser Regs (Reg S) 4.5% 27Apr2031 525,000 (525,000) – Millicom Intl Cellular Ser Regs (Reg) (Regs) 6% 15Mar2025 – (3,955,000) – Millicom Intl Cellular Ser Regs (Reg) 6.625% 15Oct2026 – (3,540,000) – Minejesa Capital Bv Ser Regs (Regs) 4.625% 10Aug2030 – (1,000,000) – Mirae Asset Daewoo Co (Reg) (Reg S) 2.625% 30Jul2025 2,591,000 (2,591,000) – 施罗德亚洲高息股债基金 182 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Modern Land China Co Ltd (Reg) (Reg S) 11.5% 13Nov2022 2,800,000 – – Modern Land China Co Ltd (Reg) (Reg S) 11.95% 04Mar2024 1,150,000 – – Modern Land China Co Ltd (Reg) (Reg S) 9.8% 11Apr2023 1,282,000 – – MTR Corp Ltd Ser Emtn (Reg) (Reg S) 1.625% 19Aug2030 2,452,000 – – Nagacorp Ltd Ser Regs 9.375% 21May2021 – (3,200,000) – Nan Fung Treasury III (Reg) (Reg S) 5% Perp 31Dec2049 4,119,000 – – National Central Cooling (Reg) (Reg S) 2.5% 21Oct2027 3,063,000 (3,063,000) – Naver Corp (Reg) (Reg S) 1.5% 29Mar2026 13,138,000 – (6,569,000) NBK Tier 1 Financing 2 Ser Regs (Reg S) Var Perp 31Dec2049 – (5,700,000) – NBK Tier 2 Ltd (Reg S) Var 24Nov2030 2,558,000 – – Nemak Sab De Cv Ser Regs (Reg S) 3.625% 28Jun2031 2,196,000 – – Network I2I Ltd Ser Regs (Reg S) Var Perp 31Dec2049 2,935,000 – – Nippon Life Insurance Ser Regs (Reg S) Var 21Jan2051 10,000,000 – – Nomura Holdings Inc (Reg) 1.851% 16Jul2025 11,748,000 (11,748,000) – Nomura Holdings Inc (Reg) 3.103% 16Jan2030 – (6,716,000) – NWD Finance (BVI) (Reg S) (Reg) 5.75% Perp 29Dec2049 – (4,500,000) – NWD Finance (BVI) Ltd (Reg) (Reg S) Var Perp 31Dec2049 1,985,000 – – NWD Finance (BVI) Ltd (Reg) (Regs) 4.8% Perp 29Dec2049 4,277,000 – – NWD Mtn Ltd (Reg) (Reg S) 3.75% 14Jan2031 1,729,000 – – NWD Mtn Ltd Ser Emtn (Reg) (Reg S) 4.5% 19May2030 3,000,000 – – OP Servicios Mega Ser Regs (Reg S) 8.25% 11Feb2025 – (7,585,000) – OQ SAOC Ser Regs (Reg S) (Br) 5.125% 06May2028 3,500,000 – – ORYX Funding Ltd Ser Regs (Reg S) 5.8% 03Feb2031 735,000 – – Oversea-Chinese Banking Ser Regs (Reg S) Var 10Sep2030 5,000,000 – – 183 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Oversea-Chinese Banking Ser Regs 4.25% 19Jun2024 – (7,200,000) – Overseas Chinese Town As (Reg) (Reg S) Var Perp 29Dec2049 – (9,000,000) – OVPH Ltd (Reg) (Regs) 5.875% Perp 29Dec2049 – (5,750,000) – Panther Ventures Ltd (Reg) (Reg S) 3.5% Perp 31Dec2049 6,183,000 – – PB International BV 7.625% 26Jan2022 – (2,302,000) – Periama Holdings Llc/De (Reg) (Reg S) 5.95% 19Apr2026 8,831,000 (2,831,000) – Perusahaan Gas Negara Ser Regs 5.125% 16May2024 – (8,000,000) – Petrobras Global Finance (Reg) 6.9% 19Mar2049 – (4,350,000) – Petrobras Global Finance 5.6% 03Jan2031 – (2,500,000) – Petrobras Global Finance 6.75% 03Jun2050 – (4,700,000) – Petrobras Global Finance 6.85% 05Jun2115 – (1,460,000) – Petroleos Del Peru Sa Ser Regs (Reg) (Reg S) 4.75% 19Jun2032 – (4,300,000) – Petroleos Mexicanos Ser Regs (Reg) (Reg S) 6.875% 16Oct2025 1,700,000 (1,700,000) – Petronas Capital Ltd Ser Regs (Reg S) 2.48% 28Jan2032 12,500,000 – – Petronas Capital Ltd Ser Regs (Reg) (Reg S) 3.5% 21Apr2030 – (5,236,000) – Petronas Capital Ltd Ser Regs (Reg) (Reg S) 4.55% 21Apr2050 – (4,975,000) – Petronas Capital Ltd Ser Regs (Reg) (Reg S) 4.8% 21Apr2060 – (408,000) – PLDT Inc (Reg) (Reg S) 2.5% 23Jan2031 – (2,611,000) – Poly Real Estate Finance 3.95% 05Feb2023 1,000,000 – – Powerlong Real Estate (Reg S) 9.125% 14Jan2021 – (300,000) – Powerlong Real Estate (Reg) (Reg S) 5.95% 30Apr2025 3,769,000 – – Powerlong Real Estate (Reg) (Reg S) 6.25% 10Aug2024 4,559,000 – – Powerlong Real Estate 5.95% 19Jul2020 – (7,222,000) – Press Metal Labuan Ltd (Reg S) 4.8% 30Oct2022 – (1,955,000) – PT Pertamina (Persero) Ser Regs (Reg) (Reg S) 1.4% 09Feb2026 3,656,000 – – PT Pertamina (Persero) Ser Regs (Reg) (Reg S) 2.3% 09Feb2031 3,656,000 – – 施罗德亚洲高息股债基金 184 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） PTTEP Treasury Center Co Ser Regs (Reg S) 3.903% 06Dec2059 – (926,000) – QNB Finance Ltd Ser Emtn (Reg) (Reg S) 2.75% 12Feb2027 – (5,000,000) – Red Sun Properties Group (Reg) (Reg S) 7.3% 13Jan2025 310,000 (310,000) – Renew Power Ltd Ser Regs (Reg) (Reg S) 6.45% 27Sep2022 – (10,000,000) – Renew Power Pvt Ltd Ser Regs (Reg) (Reg S) 5.875% 05Mar2027 4,000,000 – – Republic of Philippines (Reg) 1.648% 10Jun2031 6,531,000 – – Republic of Philippines (Reg) 2.65% 10Dec2045 13,614,000 – – Republic of Philippines (Reg) 3% 01Feb2028 – (3,000,000) – Rizal Commercial Banking (Reg) (Reg S) Var Perp 31Dec2049 4,624,000 (2,624,000) – Ronshine China (Reg) (Reg S) 11.25% 22Aug2021 – (1,555,000) – Ronshine China (Reg) (Reg S) 7.1% 25Jan2025 1,000,000 – – Ronshine China (Reg) (Reg S) 7.35% 15Dec2023 – (3,000,000) – Ronshine China (Reg) (Reg S) 8.95% 22Jan2023 – (6,000,000) – Royal Capital Bv (Reg) (Reg S) Var Perp 29Dec2049 – (12,800,000) – Royal Capital Bv (Reg) (Reg S) Var Perp 31Dec2049 1,190,000 (1,190,000) – Rumo Luxembourg Sarl Ser Regs (Reg) (Reg S) 5.25% 10Jan2028 – (3,560,000) – SA Global Sukuk Ltd Ser Regs (Reg) (Reg S) 1.602% 17Jun2026 6,817,000 – – SA Global Sukuk Ltd Ser Regs (Reg) (Reg S) 2.694% 17Jun2031 1,067,000 – – SABIC Capital I Bv (Reg) (Reg S) 2.15% 14Sep2030 1,206,000 (1,206,000) – SABIC Capital I Bv (Reg) (Reg S) 3% 14Sep2050 1,454,000 (1,454,000) – Scentre Group Trust 1/2 Ser Regs (Reg) (Reg S) 3.625% 28Jan2026 – (7,585,000) – SD International Sukuk Ser Emtn (Reg) (Reg S) 6.3% 09May2022 – (4,543,000) – Shenhua Overseas Capita (Reg) (Reg S) 3.875% 20Jan2025 – (3,039,000) – Shimao Group Hldgs Ltd (Reg) (Reg S) 4.6% 13Jul2030 1,423,000 – – Shimao Group Hldgs Ltd 6.375% 15Oct2021 – (8,800,000) – Shimao Group Holdings Lt (Reg) (Reg S) 3.45% 11Jan2031 9,000,000 – – 185 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Shinhan Financial Group Ser Regs (Reg) (Reg S) 1.35% 10Jan2026 7,000,000 – – Simpar Europe Sa Ser Regs (Reg) (Reg S) 5.2% 26Jan2031 4,066,000 – – Sinochem Int Dev Pte Ltd (Reg) (Reg S) 3.125% 25Jul2022 – (4,500,000) – Sinopec Grp Dev 2018 Ser Regs (Reg S) 2.15% 13May2025 – (4,075,000) – Sinopec Grp Dev 2018 Ser Regs (Reg S) 2.7% 13May2030 – (8,674,000) – Sinopec Grp Dev 2018 Ser Regs (Reg S) 3.44% 12Nov2049 – (1,977,000) – Sinopec Grp Overseas Dev Ser Regs (Reg) (Regs) 4% 13Sep2047 – (2,000,000) – SK Battery America Inc (Reg) (Reg S) 1.625% 26Jan2024 2,000,000 – – SK Battery America Inc (Reg) (Reg S) 2.125% 26Jan2026 3,000,000 – – SK Hynix Inc Ser Regs (Reg) (Reg S) 1.5% 19Jan2026 2,409,000 – – SK Hynix Inc Ser Regs (Reg) (Reg S) 2.375% 19Jan2031 764,000 – – SMC Global Power Hldgs (Reg) (Reg S) Var Perp 31Dec2049 2,494,000 – – Softbank Group Corp (Reg) (Regs) Var Perp 29Dec2049 4,000,000 (3,151,000) – SPIC Mtn Co Ltd Ser Emtn (Reg) (Reg S) 1.625% 27Jul2025 3,382,000 (3,382,000) – Sri Rejeki Isman Tbk PT Ser Regs (Reg) (Reg S) 7.25% 16Jan2025 – (7,672,000) – Star Energy Co Issue Ser Regs (Reg) (Reg S) 4.85% 14Oct2038 2,705,000 – – State Grid Overseas Inv Ser Emtn (Reg) (Reg S) 1.625% 05Aug2030 2,781,000 – – State of Qatar Ser Regs (Reg S) 3.75% 16Apr2030 – (3,663,000) – State of Qatar Ser Regs (Reg S) 4.4% 16Apr2050 – (3,646,000) – Studio City Finance Ltd Ser May (Reg) (Reg S) 5% 15Jan2029 2,333,000 – – Sunac China Holdings Ltd (Reg) (Reg S) 5.95% 26Apr2024 1,400,000 – – 施罗德亚洲高息股债基金 186 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Sunac China Holdings Ltd (Reg) (Reg S) 6.5% 09Jul2023 2,998,000 (1,998,000) – Sunac China Holdings Ltd (Reg) (Reg S) 6.5% 26Jan2026 2,000,000 – – Sunac China Holdings Ltd (Reg) (Reg S) 6.65% 03Aug2024 1,600,000 – – Sunac China Holdings Ltd 7% 09Jul2025 3,650,000 (1,333,000) – Swire Propert Mtn Fin Ser Emtn (Reg) (Reg S) 3.625% 13Jan2026 – (5,000,000) – TCL Technology Invest (Reg) (Reg S) 1.875% 14Jul2025 1,483,000 – – Tencent Holdings Ltd Ser Regs (Reg S) 1.81% 26Jan2026 – (1,600,000) – ThaiOil Trsry Center Ser Regs (Reg S) 2.5% 18Jun2030 6,000,000 (2,000,000) – ThaiOil Trsry Center Ser Regs (Reg S) 3.75% 18Jun2050 2,000,000 – – Three Gorges Fin I Ky (Reg S) 3.2% 16Oct2049 – (5,000,000) – Times China Hldg Ltd (Reg) (Reg S) 5.75% 14Jan2027 4,750,000 (1,000,000) – Times China Hldg Ltd (Reg) (Reg S) 6.75% 08Jul2025 10,000,000 (4,081,000) – Times China Hldg Ltd (Reg) (Reg S) 6.75% 16Jul2023 1,000,000 – – Times China Hldg Ltd (Reg) (Reg S) 7.625% 21Feb2022 – (4,500,000) – Times China Hldg Ltd 6.25% 17Jan2021 – (4,500,000) – Transurban Finance Co Ser Regs (Reg S) 2.45% 16Mar2031 2,353,000 (2,353,000) – Trust F/1401 Ser Regs (Reg) (Reg S) 4.869% 15Jan2030 7,020,000 – (3,510,000) Trust F/1401 Ser Regs (Reg) (Reg S) 6.39% 15Jan2050 3,845,000 – – TSMC Global Ltd Ser Regs (Reg S) 2.25% 23Apr2031 5,000,000 – – Ultratech Cement Ltd Ser Regs (Reg) (Reg S) 2.8% 16Feb2031 6,000,000 – – Unigel Luxembourg Sa Ser Regs (Reg S) 8.75% 01Oct2026 2,500,000 – – United Overseas Bank Ltd Ser Gmtn (Reg) (Reg S) Var 16Mar2031 5,000,000 – – 187 Schroder Asian Asset Income Fund Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） United Overseas Bank Ltd Ser Regs (Reg) (Reg S) Var 14Oct2031 3,228,000 – – United Overseas Bank Ltd Ser Regs (Reg) (Reg S) Var 15Apr2029 7,000,000 – – US Treasury Bill 0% 11Feb2021 14,600,000 (14,600,000) – US Treasury Bill 0% 17Dec2020 32,000,000 (32,000,000) – US Treasury Bill 0% 17Nov2020 31,000,000 (31,000,000) – US Treasury Bill 0% 20May2021 41,000,000 (41,000,000) – US Treasury Bill 0% 26Jan2021 17,000,000 (17,000,000) – US Treasury Bill 0% 29Jul2021 30,000,000 (26,000,000) – US Treasury Bill 0% 29Sep2020 19,000,000 (19,000,000) – VM Holding SA Ser Regs 5.375% 04May2027 – (2,550,000) – Weibo Corp (Reg) 3.375% 08Jul2030 – (3,422,000) – West China Cemenet Ltd (Reg) (Regs) 4.95% 08Jul2026 1,356,000 – – Westwood Grp Hold Ltd Ser Emtn (Reg) (Reg S) 3.8% 20Jan2031 2,060,000 – – Westwood Grp Hold Ltd Ser Emtn (Regs) 4.875% 19Apr2021 – (3,240,000) – Wheelock Mtn Bvi Ltd Ser Emtn (Reg) (Reg S) 2.375% 25Jan2026 10,000,000 – – WYNN Macau Ltd Ser Regs (Reg) (Reg S) 5.625% 26Aug2028 2,920,000 – (1,460,000) Yan Gang Ltd (Reg) (Reg S) 1.9% 23Mar2026 3,000,000 – – Yango Justice Intl (Reg) (Reg S) 7.5% 17Feb2025 875,000 (875,000) – Yango Justice Intl (Reg) (Regs) 7.5% 15Apr2024 1,113,000 – – Yanlord Land HK Co Ltd (Reg) (Reg S) 5.125% 20May2026 3,795,000 – – Yanlord Land HK Co Ltd (Reg) (Reg S) 6.8% 27Feb2024 750,000 – – Yuzhou Group (Reg) (Reg S) 6.35% 13Jan2027 4,000,000 (4,000,000) – Yuzhou Group (Reg) (Reg S) 7.85% 12Aug2026 4,000,000 (2,211,000) – Yuzhou Properties Co Ltd (Reg) (Reg S) 6.375% 06Mar2021 – (5,000,000) – Yuzhou Properties Co Ltd (Reg) (Reg S) 8.375% 30Oct2024 – (674,000) – Zhenro Properties Group (Reg) (Reg S) 12.5% 02Jan2021 – (925,000) – Zhenro Properties Group (Reg) (Reg S) 5.95% 18Nov2021 1,147,000 – – 施罗德亚洲高息股债基金 188 Investment Portfolio Movements (Unaudited) (Continued) 投资组合变动（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 Holdings 份额数目 Currency 货币 Investments 投资项目 Additions 增加 Disposals 减少 Bonus/Splits 红股╱分拆 LISTED DEBT SECURITIES (Continued) 上市债务证券（续） UNITED STATES DOLLAR (Continued) 美元（续） Zhenro Properties Group (Reg) (Reg S) 6.63% 07Jan2026 2,243,000 (2,243,000) – Zhenro Properties Group (Reg) (Reg S) 7.35% 05Feb2025 2,078,000 – – Zhenro Properties Group (Reg) (Reg S) 7.875% 14Apr2024 1,000,000 – – Zhenro Properties Group (Reg) (Reg S) 8.65% 21Jan2023 – (5,914,000) – Zhongan Online P&C Insur (Reg) (Reg S) 3.125% 16Jul2025 7,025,000 – – Zhongliang Holdings (Reg) (Reg S) 7.5% 31Jan2022 1,570,000 – – Zhongliang Holdings (Reg) (Reg S) 9.5% 29Jul2022 2,364,000 – – Zoomlion HK SPV Co Ltd Ser Regs 6.125% 20Dec2022 – (3,000,000) – UNLISTED/QUOTED DEBT SECURITIES 非上市╱挂牌债务证券 RENMINBI 人民币 Henderson Land Mtn Ltd Ser Emtn (Reg S) 3.3% 13May2023 19,000,000 – – UNITED STATES DOLLAR 美元 Celulosa Arauco Constitu Ser Regs (Reg) (Reg S) 5.15% 29Jan2050 – (3,010,000) – Commonwealth Bank Aust (Reg S) Var 20Oct2026 – (9,286,000) – Scentre Group Trust 2 Ser Regs (Reg S) Var 24Sep2080-1 6,772,000 – – Scentre Group Trust 2 Ser Regs (Reg S) Var 24Sep2080-2 5,535,000 – – Trust Fibrauno Ser Regs (Regs) 6.39% 15Jan2050 3,845,000 – (3,845,000) 189 Schroder Asian Asset Income Fund Details in Respect of Financial Derivative Instruments (Unaudited) 金融衍生工具的详情（未经审核） As at 30th June 2021 截至二零二一年六月三十日 (a) Foreign exchange forward contracts As at 30th June 2021, the Fund held outstanding foreign exchange forward contracts with The Hongkong and Shanghai Banking Corporation Limited, Hong Kong, Morgan Stanley and Co Intl, London, State Street Bank and Trust Company, London, Goldman Sachs Intl, London and The Bank of New York Mellon with details as shown in note 5. (b) Futures As at 30th June 2021, the Fund held futures with UBS AG, Singapore Branch with details as shown in note 5. (c) Credit default swaps At 30th June 2021, the Fund held the credit default swaps with Barclays Bank PLC, BNP Paribas and JPMorgan Chase Bank NA New York with details as shown in note 5. (a) 远期外汇合约 截至二零二一年六月三十日，本基金持有交 易对手为The Hongkong and Shanghai Banking Corporation Limited, Hong Kong, Morgan Stanley and Co Intl, London, State Street Bank and Trust Company, London, Goldman Sachs Intl, London及The Bank of New York Mellon 的远期外汇合约，详情请参阅注釋5。 (b) 期货 截至二零二一年六月三十日，本基金持有交 易对手为UBS AG, Singapore Branch的期 货，详情请参阅注釋5。 (c) 信贷违约掉期 截至二零二一年六月三十日，本基金持有交 易对手为Barclays Bank PLC, BNP Paribas 及JPMorgan Chase Bank NA New York的 信贷违约掉期，详情请参阅注釋5。 施罗德亚洲高息股债基金 190 Information on Exposure Arising from Financial Derivative Instruments (Unaudited) 有关金融衍生工具所产生的风险承担的资料（未经审核） For the year ended 30th June 2021 二零二一年六月三十日止年度 The following table shows the lowest, highest and average gross exposure arising from the use of financial derivative instruments for any purpose as a proportion to the Fund’s total net asset value for the year ended 30th June 2021: 2021 二零二一年 % of net asset value 占净资产百份比 Lowest gross exposure 最低总体风险承担 94.15% Highest gross exposure 最高总体风险承担 356.58% Average gross exposure 平均总体风险承担 138.81% The following table shows the lowest, highest and average net exposure arising from the use of financial derivative instruments as a proportion to the Fund’s total net asset value for the year ended 30th June 2021: 2021 二零二一年 % of net asset value 占净资产百份比 Lowest net exposure 最低风险承担净额 3.89% Highest net exposure 最高风险承担净额 21.57% Average net exposure 平均风险承担净额 12.17% 下表呈列二零二一年六月三十日止年度用于任何 目的之金融衍生工具的最低、最高和平均总体风 险承担所占本基金的净资产百份比： 下表呈列二零二一年六月三十日止年度衍生工具 的最低、最高和平均风险承担净额所占本基金的 净资产百份比： 191 Schroder Asian Asset Income Fund Holdings of Collateral (Unaudited) 所持有的抵押品（未经审核） As at 30th June 2021 截至二零二一年六月三十日 Collateral provider 提供抵押品对手 Nature of the collateral 抵押品的 性质 Credit rating 信贷 评级 Rating agencies 评级机构 Maturity tenor 到期日 Currency denomination 计值货币 % of net asset value covered by collateral 抵押品担保占 净资产百分比 Value of the collateral 抵押品价值 HK$ 港元 Goldman Sachs Intl, London Cash collateral 现金抵押品 N/A 不适用 N/A 不适用 N/A 不适用 USD 美元 0.01% 3,339,316 0.01% 3,339,316 Custody/Safe Keeping Arrangement 托管／保管安排 Custodians of Collateral 抵押品保管人 Amount of collateral received/held 收取／持有抵押品的金额 Proportion of collateral posted by the scheme 计划提供并存放于 独立帐户所占比例 HK$ 港元 % Segregated accounts 独立帐户 The Hongkong and Shanghai Banking Corporation Limited, Hong Kong 3,339,316 100% 施罗德亚洲高息股债基金 192 2021 二零二一年 2020 二零二零年 2019 二零一九年 Net assets 净资产 HK$港元31,351,182,396 HK$港元29,377,442,901 HK$港元33,347,675,780 Net asset value per unit 每份额净资产 Class A 类别 HKD Accumulation Units 港元累积份额 HK$港元174.1296 HK$港元146.6570 HK$港元161.2388 HKD Distribution Units 港元收息份额 HK$港元104.7830 HK$港元92.5558 HK$港元106.6920 USD Accumulation Units 美元累积份额 US$美元17.4604 US$美元14.7348 US$美元16.0715 USD Distribution Units 美元收息份额 US$美元10.5074 US$美元9.2998 US$美元10.6345 AUD Hedged Distribution Units 澳元对冲收息份额 AU$澳元9.6310 AU$澳元8.5850 AU$澳元9.8985 RMB Hedged Distribution Units 人民币对冲收息份额 RMB人民币98.8772 RMB人民币87.5294 RMB人民币100.4438 GBP Hedged Accumulation Units 英镑对冲累积份额 GBP英镑11.9846 GBP英镑10.1036 GBP英镑11.2240 GBP Hedged Distribution Units 英镑对冲收息份额 GBP英镑9.9931 GBP英镑8.8607 GBP英镑10.2186 Class C 类别 HKD Accumulation Units 港元累积份额 HK$港元187.1604 HK$港元156.4946 HK$港元170.8102 HKD Distribution Units 港元收息份额 HK$港元112.6629 HK$港元98.7982 HK$港元113.0638 USD Accumulation Units 美元累积份额 US$美元16.7844 US$美元14.0621 US$美元15.2260 USD Distribution Units 美元收息份额 US$美元10.8858 US$美元9.5652 US$美元10.8585 AUD Hedged Distribution Units 澳元对冲收息份额 AU$澳元9.9922 AU$澳元8.8385 AU$澳元10.1137 Class I 类别 USD Accumulation Units 美元累积份额 US$美元17.5256 US$美元14.5809 US$美元15.6751 USD Distribution Units 美元收息份额 US$美元13.3104 US$美元11.6165 US$美元13.0954 Class M 类别 RMB Hedged Accumulation Units 人民币对冲累积份额 RMB人民币143.0670 RMB人民币118.4884 RMB人民币128.7037 Class X 类别 HKD Accumulation Units 港元累积份额 HK$港元173.7644 HK$港元146.3287 HK$港元160.9676 HKD Distribution Units 港元收息份额 HK$港元157.3165 HK$港元138.9591 HK$港元160.2763 USD Accumulation Units 美元累积份额 US$美元17.4081 US$美元14.6900 US$美元16.0350 USD Distribution Units 美元收息份额 US$美元15.7753 US$美元13.9618 US$美元15.9684 Performance Table (Unaudited) 业绩表（未经审核） For the year ended 30th June 2021 二零二一年六月三十日止年度 193 Schroder Asian Asset Income Fund PERFORMANCE RECORD SINCE INCEPTION 由成立日起之业绩记录 HKD Class A 港元A类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Accumulation Units 累积份额 Distribution Units 收息份额 Accumulation Units 累积份额 Distribution Units 收息份额 HK$港元 HK$港元 HK$港元 HK$港元 2021二零二一年 175.3150 107.6054 148.3878 92.3064 2020二零二零年 164.6586 107.6833 125.6571 80.5490 2019二零一九年 161.2431 107.1413 142.9249 97.8865 2018二零一八年 156.0361 111.1475 144.5942 102.6624 2017二零一七年 146.29 107.47 132.20 99.66 2016二零一六年 135.62 105.16 122.25 96.04 2015二零一五年 135.51 110.50 126.99 104.78 2014二零一四年 126.95 107.79 113.69 99.91 2013二零一三年 127.38 114.19 104.65 98.52 2012二零一二年 103.92 101.75 87.48 86.13 HKD Class C 港元C类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Accumulation Units 累积份额 Distribution Units 收息份额 Accumulation Units 累积份额 Distribution Units 收息份额 HK$港元 HK$港元 HK$港元 HK$港元 2021二零二一年 188.2143 115.3923 158.3864 98.7704 2020二零二零年 175.1304 114.1257 133.8234 85.8131 2019二零一九年 170.8102 113.5354 150.6831 103.2351 2018二零一八年 163.6002 116.5706 150.9937 108.0034 2017二零一七年 152.74 112.04 137.41 103.62 2016二零一六年 140.58 108.31 126.32 99.27 2015二零一五年 139.27 113.47 130.01 107.86 2014二零一四年 129.69 110.16 115.45 101.86 2013二零一三年 129.06 115.74 105.43 99.23 2012二零一二年 104.68 101.81 87.65 86.30 Performance Table (Unaudited) (Continued) 业绩表（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 施罗德亚洲高息股债基金 194 Performance Table (Unaudited) (Continued) 业绩表（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 PERFORMANCE RECORD SINCE INCEPTION (CONTINUED) 由成立日起之业绩记录（续） HKD Class X 港元X类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Accumulation Units 累积份额 Distribution Units 收息份额 Accumulation Units 累积份额 Distribution Units 收息份额 HK$港元 HK$港元 HK$港元 HK$港元 2021二零二一年 174.9385 161.5539 148.0571 138.5847 2020二零二零年 164.2859 161.7552 125.3707 120.9327 2019二零一九年 160.9740 160.9562 142.8836 154.8867 USD Class A 美元A类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Accumulation Units 累积份额 Distribution Units 收息份额 Accumulation Units 累积份额 Distribution Units 收息份额 US$美元 US$美元 US$美元 US$美元 2021二零二一年 17.6095 10.8091 14.9031 9.2695 2020二零二零年 16.5064 10.7557 12.6162 8.0879 2019二零一九年 16.0719 10.6793 14.1930 9.7206 2018二零一八年 15.5424 11.0723 14.4143 10.1864 2017二零一七年 14.60 10.78 13.27 10.00 2016二零一六年 13.61 10.57 12.17 9.56 2015二零一五年 13.61 11.09 12.74 10.52 2014二零一四年 12.75 10.83 11.42 10.02 2013二零一三年 12.78 11.46 10.51 9.89 2012二零一二年 10.43 10.17 8.75 8.61 USD Class C 美元C类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Accumulation Units 累积份额 Distribution Units 收息份额 Accumulation Units 累积份额 Distribution Units 收息份额 US$美元 US$美元 US$美元 US$美元 2021二零二一年 16.8895 11.1688 14.2272 9.5571 2020二零二零年 15.7008 10.9833 12.0165 8.3023 2019二零一九年 15.2260 10.9038 13.3816 9.8775 2018二零一八年 14.5735 11.1889 13.4612 10.0577 2017二零一七年 13.63 10.79 12.33 10.03 2016二零一六年 12.62 10.43 11.25 10.22 2015二零一五年 12.51 – 11.67 – 2014二零一四年 11.65 – 10.37 – 2013二零一三年 11.58 – 10.00 – 195 Schroder Asian Asset Income Fund PERFORMANCE RECORD SINCE INCEPTION (CONTINUED) 由成立日起之业绩记录（续） USD Class I 美元I类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Accumulation Units 累积份额 Distribution Units 收息份额 Accumulation Units 累积份额 Distribution Units 收息份额 US$美元 US$美元 US$美元 US$美元 2021二零二一年 17.6289 13.6206 14.7566 11.6339 2020二零二零年 16.2284 13.2471 12.4362 10.0636 2019二零一九年 15.6751 13.1495 13.7118 11.8565 2018二零一八年 14.8534 13.3584 13.6661 12.3645 2017二零一七年 13.83 12.81 12.47 11.87 2016二零一六年 12.30 12.72 11.21 11.30 2015二零一五年 12.51 – 12.01 – USD Class X 港元X类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Accumulation Units 累积份额 Distribution Units 收息份额 Accumulation Units 累积份额 Distribution Units 收息份额 US$美元 US$美元 US$美元 US$美元 2021二零二一年 17.5558 16.2283 14.8575 13.9164 2020二零二零年 16.4546 16.1497 12.5771 12.1422 2019二零一九年 16.0357 16.0362 14.1890 15.3578 AUD Hedged Class A 澳元对冲A类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Distribution Units 收息份额 Distribution Units 收息份额 AU$澳元 AU$澳元 2021二零二一年 9.9270 8.5424 2020二零二零年 10.0087 7.4834 2019二零一九年 9.9319 9.0619 2018二零一八年 10.3302 9.4942 2017二零一七年 10.10 9.36 2016二零一六年 9.93 8.98 2015二零一五年 10.43 9.88 2014二零一四年 10.17 9.40 2013二零一三年 10.77 9.59 Performance Table (Unaudited) (Continued) 业绩表（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 施罗德亚洲高息股债基金 196 PERFORMANCE RECORD SINCE INCEPTION (CONTINUED) 由成立日起之业绩记录（续） AUD Hedged Class C 澳元对冲C类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Distribution Units 收息份额 Distribution Units 收息份额 AU$澳元 AU$澳元 2021二零二一年 10.2746 8.8167 2020二零二零年 10.2277 7.6928 2019二零一九年 10.1474 9.2224 2018二零一八年 10.8572 9.6408 2017二零一七年 10.12 9.40 2016二零一六年 9.79 9.58 RMB Hedged Class A 人民币对冲A类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Distribution Units 收息份额 Distribution Units 收息份额 RMB人民币 RMB人民币 2021二零二一年 101.9289 87.4045 2020二零二零年 101.6019 76.2649 2019二零一九年 100.9089 92.1900 2018二零一八年 105.2661 96.8289 2017二零一七年 102.04 96.65 2016二零一六年 100.05 90.46 2015二零一五年 105.00 99.46 2014二零一四年 102.25 94.45 RMB Hedged Class M 人民币对冲M类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Accumulation Units 累积份额 Accumulation Units 累积份额 RMB人民币 RMB人民币 2021二零二一年 144.2129 119.9005 2020二零二零年 132.3450 101.3816 2019二零一九年 128.7072 113.6921 2018二零一八年 123.1782 113.6151 2017二零一七年 114.99 102.19 2016二零一六年 103.95 91.79 Performance Table (Unaudited) (Continued) 业绩表（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 197 Schroder Asian Asset Income Fund Performance Table (Unaudited) (Continued) 业绩表（未经审核）（续） For the year ended 30th June 2021 二零二一年六月三十日止年度 PERFORMANCE RECORD SINCE INCEPTION (CONTINUED) 由成立日起之业绩记录（续） GBP Hedged Class A 英镑对冲A类别 Highest issue price per unit 每份额最高认购价 Lowest redemption price per unit 每份额最低赎回价 Accumulation Units 累积份额 Distribution Units 收息份额 Accumulation Units 累积份额 Distribution Units 收息份额 GBP英镑 GBP英镑 GBP英镑 GBP英镑 2021二零二一年 12.0969 10.2783 10.2137 8.8189 2020二零二零年 11.3698 10.3347 8.6751 7.7225 2019二零一九年 11.2243 10.2466 10.0425 9.3516 2018二零一八年 11.1581 10.6505 10.3688 9.7831 2017二零一七年 10.60 10.32 9.65 9.63 Note: Schroder Asian Asset Income Fund HKD Class X Accumulation Units and USD Class X Accumulation Units were launched on 14th September 2018 and HKD Class X Distribution Units and USD Class X Distribution Units were launched on 15th May 2019. 注釋： 施罗德亚洲高息股债港元累积X类及美元累积X类于二零一八年九月十四日成立。施罗德亚洲高 息股债港元收息X类及美元收息X类于二零一九年五月十五日成立。 Schroder Asian Asset Income Fund 施罗德亚洲高息股债基金 (A Sub-Fund of Schroder Umbrella Fund II) (施罗德伞型基金 II的子基金 ) Annual Report and Financial Statements 年度报告及财务报表 For the year ended 30th June 2021 二零二一年六月三十日止年度 SP_AAIAR_OCT21 Schroder Asian Asset Income Fund (A Sub-Fund of Schroder Umbrella Fund II) Annual Report and Financial Statements June 2021 施罗德亚洲高息股债基金 ( 施罗德伞型基金 II 的子基金 ) 年度报告及财务报表 Schroder Investment Management (Hong Kong) Limited 二零二一年六月 Level 33, Two Pacific Place, 88 Queensway, Hong Kong Tel: +852 2521 1633 Fax: +852 2530 9095 施罗德投资管理（香港）有限公司 香港金钟道 88号太古广场二座 33字楼 电话：+852 2521 1633?传真：+852 2530 9095 |
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| 基金信息类型 | 基金年度报告 | ||||||||
| 公告来源 | 基金公司官网 | ||||||||
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