Members should note the following:

• The Underlying Fund in which the Standard Chartered Stable Funds - Basic invests will invest in international equity funds, which are subject to market risks and volatility risks of the underlying equity
securities. The Underlying Fund will also invest in international bond funds, which are subject to credit risks, interest rate risks and counterparty risks in respect of the underlying debt securities.
• You should consider your own risk tolerance level and financial circumstances before making any investment choices. When, in your selection of funds, you are in doubt as to whether a certain fund is
suitable for you (including whether it is consistent with your investment objectives), you should seek financial and/or professional advice and choose the fund(s) most suitable for you taking into account your
circumstances.
• Investors should not only base on this document alone to make investment decisions.

各成員應注意以下事項︰
•渣打穩定基金—基本所投資的基礎基金將投資於國際性股票基金，其須承受其所投資的股本證券的市場風險及波動性風險。基礎基金亦將投資於國際性債務基金，其須就其所投資的債務證券承受信貸風險、利率風
險、及交易對手方風險。
•閣下在作出任何投資選擇前，應先考慮自身的風險承受水平及財務狀況。如閣下在選擇基金時，對若干基金是否適合閣下（包括該基金是否符合閣下之投資目標）存有疑問，閣下應尋求財務及／或專業意見，並根
據閣下的情況選擇最適合閣下的基金。
• 投資者不應單憑本文件而作出投資決定。
Standard Chartered MPF Plan - Basic 渣打強積金計劃 - 基本 As at 30 September 2009 ("Statement Date")
截至2009 年9月30日("報告日期")

Standard Chartered Stable Fund - Basic Note 1 渣打穩定基金 - 基本 註1

Note 4 註4
Risk Level 風險 : Low 低

Note 5
Unit Price* (HKD) Fund Size (in million) Launch Date Fund Descriptor Fund Risk Indicator Fund Expense Ratio
基金單位價格* (港元) 基金資產值 (百萬計) 推出日期 基金類型描述 基金風險標記 註5 基金開支比率

Mixed Assets Fund - Global -

Maximum equity normally 60%
14.305 552.76 1/12/2000 12.54% 2.07%
混合資產基金 - 全球 -
股票通常最多佔60%

*As at Statement Date 截至報告日期

Fund Objective 基金投資目標 Asset Allocation of Underlying Fund^
The Fund aims to achieve steady investment returns with a high degree of capital protection (it is not a guaranteed fund). 基礎基金的資產分佈^
基金投資目的是尋求最高的資產保值同時亦有穩定的投資回報(這並不是保證基金)。 Global Equities環球股票 49.52%
Global Bonds 環球債券 42.35%
Cash & Deposits 現金及存款 8.13%
Top Ten Holdings of Underlying Fund ^ 基礎基金的十大主要投資^ Total 總數 100.00%
JAPAN 1.5% 20 MAR 2014 日本政府債券 1.5% 20 MAR 2014 4.41%
FRANCE 3% 25 OCT 2015 法國政府債券 3% 25 OCT 2015 4.12%
FRANCE 4% 25 APR 2014 法國政府債券 4% 25 APR 2014 3.00%
JAPAN 1.3% 20 MAR 2019 日本政府債券 1.3% 20 MAR 2019 2.48%
GERMANY 3.75% 4 JAN 2019 德國政府債券 3.75% 4 JAN 2019 2.24%
GERMANY 4.25% 4 JUL 2014 德國政府債券 4.25% 4 JUL 2014 2.02%
USA 2% 30 NOV 2013 美國政府債券 2% 30 NOV 2013 1.53%
HSBC HOLDINGS PLC 匯豐控股有限公司 1.46%
STANDARD CHARTERED 5.875% 26 SEP 2017 渣打銀行 5.875% 26 SEP 2017 1.44%
GERMANY 3.5% 4 JUL 2019 德國政府債券 3.5% 4 JUL 2019 1.44%

Performance Note 2 & 3 表現 註2 & 3

Preceding the recent 5 years 最近五年
Last calendar Last 1 year Last 3 years Last 5 years Since Launch
1 month YTD 1/10/2004 1/10/2005 1/10/2006 1/10/2007 1/10/2008
year過去年曆 過去一年 過去三年 過去五年 自推出日期
一個月 年初至今 to 至 to 至 to 至 to 至 to 至
(p.a.每年%) (p.a.每年%) (p.a.每年%)# (p.a.每年%)# (p.a.每年%)#
30/9/2005 30/9/2006 30/9/2007 30/9/2008 30/9/2009
3.71% 14.28% -21.44% 8.29% 3.52% 5.92% 3.73% 10.33% 8.91% 21.44% -15.65% 8.29%
# This is an annualised figure. 此乃年率化的數值。

Commentary: Market Review, Market Outlook and Fund Performance^ 評論:市場回顧，市場展望及基金表現^

The strong rally of equity markets since mid March showed signs of moderation in September as market remained sceptical about economic outlook and began to question valuation of stocks. The S&P 500 rose 3.6% while
the European equity market proxy DJ Stoxx 50 gained 3.5%. Recent economic data from the US painted a mixed picture with retail sales surprised to the upside while durable goods orders came out to be weaker than
expected. In Europe, Purchasing Manager Index continued to rebound with service sector index rising above key 50 level, indicating expansion in services activities.

Japan’s Nikkei index fell 3.4% over the month whilst Hong Kong Hang Seng Index climbed 6.2%. Asian bourses out-performed their counterparts in US and Europe with MSCI Pacific ex HK ex Japan rising 9.4%. In Japan,
machine orders plunged to a record low amid weak demand for capital spending. In the rest of Asia, many of the economies benefited from restocking cycle and saw their economic data improving over the previous
months. Chinese economy continued to thrive on the massive stimulus package. Fixed asset investment maintained at growth rate of 33% while retail sales also rose at 15.4% clip.

Citigroup World Government Bond Index posted a gain of 2.3% in USD terms, driven by appreciation of major currencies again the greenback and lower long end yields over the month.

環球股票市場自三月中以來強勁反彈，但市場對經濟復甦前景存疑，加上股票估值變得昂貴，令股票市場在九月的升勢有緩和的跡象。美國標準普爾500指數在九月上升3.6%，而代表歐洲市場的DJStoxx50指數則上升3.5%
。美國近日的經濟數據好壞參半，零售銷售較預期強勁，但耐用品訂單卻較預期為差。歐元區經理採購指數持續改善，服務業指數更超越50的水平，反映服務業活動擴張。

日經指數在過去一個月下跌3.4%，而香港恆生指數則錄得6.2%升幅。亞洲股票市場表現優於美國及歐洲股市，摩根士丹利太平洋指數(不包括香港及日本)上升9.4%。日本機器訂單在資本投資持續疲弱下跌至有記錄以來最低
。其他亞洲國家經濟受惠於補充存貨週期，經濟數據錄得改善。中國經濟在龐大的財政刺激政策下繼續錄得增長。固定資產投資增長維持在33%的步伐，而零售銷售亦增長15.4%。

花旗環球政府債券指數以美元計算上升2.3%，受惠於主要貨幣相對美元升值及長期息率下跌。

^Sources: Standard Chartered Investment Services Limited 資料來源 : 渣打投資服務有限公司

Any view expressed in this market review shall not be construed to represent the view of Standard Chartered Bank (Hong Kong) Limited. This market review is strictly for information purposes only and does not constitute a representation that any
investment strategy is suitable or appropriate for an investor’s individual circumstances.
本市場回顧所發表的任何觀點不應被視為代表渣打銀行（香港）有限公司的觀點。本市場回顧僅作提供資料之用，並不構成任何投資策略為適合或適用於某一投資者的個別情況的提述。

Notes 備註 :-
1. The Fund will invest in an Approved Pooled Investment Fund ("Underlying Fund'). The Underlying Fund will invest in Approved Pooled Investment Funds and Approved Index-Tracking Funds.
本基金將透過核准匯集投資基金("基礎基金")作出投資。該基礎基金將投資於核准匯集投資基金及核准緊貼指數基金。
2. Fund performance is prepared by the Sponsor and calculated in HK$ on NAV-to-NAV basis. 基金表現由保薦人提供及按資產淨值作為比較基礎，以港元為計算單位。
3. The fund performance data is calculated at Constituent Fund level and is net of the Trustee Fee, Administrator Fee, Sponsor's Member Servicing Fee and Operating Expenses.
本基金表現以成分基金層面計算並已反映受託人費用、行政人費用、保薦人的成員服務費及營運支出。
4. The Risk Level (but not the Fund Risk Indicator) indicated applies to the range of underlying funds offered by a particular manager only and does not represent an assessment of the risk of a particular Constituent Fund in
comparison with the other Constituent Funds. 所示的風險程度(並非基金風險標記)說明只適用於某一經理本身所提供的各個基礎基金，並不構成某一成分基金 相對於所有其他可供選擇的成分基金的風險評估。
5. The Fund Risk Indicator is shown as an annualized standard deviation based on the monthly rates of return of the fund over the past 3 years to the Statement Date.
基金風險標記以報告日期起過去3 年之每月基金回報的年率標準差作表示。

Disclaimer:
—Certain data in this document has been obtained from the manager of the underlying fund. Whilst Standard Chartered Bank (Hong Kong) Limited has reasonable belief that such information is accurate,
complete and up-to-date, and has taken care in accurately reproducing the information, it shall have no responsibility or liability whatsoever for the accuracy of such information or any use or reliance
thereof.
—The information contained in this document is for information purposes only. Please refer to the Consolidated Explanatory Memorandum for further detail.
—Investment involves risk. It cannot be guaranteed that the performance of the Standard Chartered MPF Plan - Basic (the “Plan”) will generate a return and there may be circumstances where no return is
generated or the amount invested is lost. Past performance is not indicative of future performance. Further, performance of the Constituent Funds of the Plan will be affected by fees charged. Before making
any investment decision to invest in the Plan, investors should read the Consolidated Explanatory Memorandum for more detailed information (including fees and charges) on the Plan and its Constituent
Funds. Investors should ensure they fully understand the risks associated with the Plan and should also consider their own investment objective and risk tolerance level. If in doubt, please seek independent
financial and professional advice.
免責聲明︰
—本文件所載的某些數據乃從基礎基金的基金經理取得。儘管渣打銀行（香港）有限公司有合理理由相信該等資料屬準確、完整及為最新資料，並已力求謹慎地準確重製該等資料，但渣打銀行（香港）有限公
司將毋須就該等資料的準確性，或對該等資料的任何使用或依賴承擔任何責任。
—本文件所載資料僅作提供資料之用。詳情請參閱綜合解釋說明書。
—投資涉及風險。概不保證渣打強積金計劃—基本（「計劃」）的表現將產生回報，在某些情況下，計劃可能未能產生回報，甚或損失已投資之金額。過往表現並不代表未來表現。此外，計劃的成分基金的表
現會受費用影響。投資者應在作出任何投資於計劃的投資決定前，先閱讀綜合解釋說明書以知悉計劃及其成分基金的詳細資料（包括費用及收費）。投資者應確保其已完全明白計劃所附帶的風險，並應考慮其
自身的投資目標及風險承受水平。如有疑問，請尋求獨立的財務及專業意見。
Issued by Standard Chartered Bank (Hong Kong) Limited 由渣打銀行(香港)有限公司發行