How is the redemption fee for Class B Units calculated?
Redemption fee may be charged upon redemption of Class B Units and this depends on the holding period of the Class B Units. The Units issued earlier will be redeemed prior to Units issued later in time except that Units representing reinvestment of distribution (which are not subject to redemption fee) will first be redeemed. Where the Class B Units being redeemed were issued as a result of switching from other sub-fund under the Hang Seng Investment Series, the holding period will be counted from the earliest date of issue of the Class B Units of that other sub-fund. Class B Units will automatically be converted to Subscription Fee Class (Class A Units) after 3 years upon which no redemption fee will be charged.
