In-house Fund Range. 31 August 2013 FIXED INCOME

Transcription

1 In-house Fund Range 31 August 2013 FIXED INCOME > Emirates MENA Fixed Income Fund > Emirates Global Sukuk Fund > Emirates Islamic Money Market Fund Investor Type Cautious This investor profile expects a relatively modest risk to their capital value and/or income. Typically investments have the potential to provide income, and/or, over the medium to long term, relatively modest capital growth. The capital value may fluctuate and is not guaranteed, although risk should be limited through diversification. Possible Fund Choices Emirates Islamic Money Market Fund Emirates Conservative Managed Fund Emirates MENA Fixed Income Fund GLOBAL FUNDS > Emirates Active Managed Fund > Emirates Balanced Managed Fund > Emirates Conservative Managed Fund > Emirates Islamic Global Balanced Fund > Emirates Emerging Market Equity Fund MENA EQUITIES > Emirates MENA Top Companies Fund > Emirates MENA High Income Fund > Emirates MENA Opportunities Fund REAL ESTATE > Emirates Real Estate Fund Moderate This investor profile carries a risk of loss to capital value but has the potential for capital growth and/or income over the medium to longterm. Typically investments do not have any guarantees and will fluctuate in capital value. Growth This investor profile expects to have a relatively significant risk of loss to capital value in the shortterm but with the potential of higher capital growth over the medium to long term. The investments held do not offer any guarantees and will fluctuate in capital value. Shari a Compliant This investor requires access to only Shari a Compliant products / markets. Emirates Active Managed Fund Emirates Balanced Managed Fund Emirates Islamic Global Balanced Fund Emirates Global Sukuk Fund Emirates Real Estate Fund Emirates Emerging Market Equity Fund Emirates MENA Top Companies Fund Emirates MENA High Income Fund Emirates MENA Opportunities Fund Emirates Global Sukuk Fund Emirates Islamic Money Market Fund Emirates Emerging Market Equity Fund Emirates Real Estate Fund Emirates Islamic Global Balanced Fund Emirates MENA Opportunities Fund Shari a Compliant

2 In-house Fund Range - Performance Summary 31 August 2013 Latest Previous Fund Shari a Risk Asset Year to Return Since CAGR Since Fund Volatility Sharpe Price Price Type Compliant Rating Allocation Month Month Month Date Year Year Year Inception Inception Launch Date Ratio FIXED INCOME Emirates MENA Fixed Income Fund Mutual Fund 2 MENA Fixed Income -1.91% -3.68% -4.01% -2.64% 1.45% 21.66% N/A 28.05% 7.37% 10-Mar % 1.44 Emirates Global Sukuk Fund Mutual Fund 2 Global Sukuk -1.72% -3.14% -3.09% -2.28% 0.15% 15.67% N/A 17.94% 5.03% 21-Apr % 1.25 Emirates Islamic Money Market Fund Mutual Fund 1 Islamic Money Mkt 0.04% 0.12% 0.34% 0.48% 0.80% 4.18% N/A 5.27% 1.53% 14-Apr % 4.62 GLOBAL FUNDS Emirates Active Managed Fund Multimanager 3 Global Multi Asset -0.80% -3.05% -2.18% -0.88% 3.27% 9.71% 3.26% 9.51% 1.18% 09-Dec % Emirates Balanced Managed Fund Multimanager 2 Global Multi Asset -0.85% -2.89% -2.52% -1.53% 2.30% 7.37% 4.07% 11.22% 1.38% 09-Dec % Emirates Conservative Managed Fund Multimanager 2 Global Multi Asset -0.59% -2.15% -1.68% -1.47% 0.43% 3.24% -3.68% 4.48% 0.57% 09-Dec % Emirates Islamic Global Balanced Fund Multimanager 2 Global Multi Asset -1.20% -2.81% -1.36% 0.64% 3.14% 11.25% -4.14% 7.68% 1.00% 04-Apr % Emirates Emerging Markets Equity Fund Mutual Fund 4 Emgng Mkt Equity 1.00% -8.70% % % % N/A N/A % % 01-Sep % N/A MENA EQUITY Emirates MENA Top Companies Fund Mutual Fund 4 Regional Equity -0.85% 4.38% 15.25% 21.64% 22.14% 37.52% -9.65% 8.13% 1.31% 01-Sep % 0.00 Emirates MENA High Income Fund Mutual Fund 4 Regional Multi Asset -1.14% 3.01% 10.02% 14.56% 15.98% 27.91% N/A 71.64% 12.42% 20-Jan % 0.93 Emirates MENA Opportunities Fund Mutual Fund 4 Regional Multi Asset 0.05% 0.83% 5.35% 8.72% 10.81% 20.17% % 8.27% 1.09% 24-Apr % REAL ESTATE Emirates Real Estate Fund * Mutual Fund 3 Regional Property N/A 3.33% N/A 5.97% 11.45% -7.58% % -0.46% -0.06% 30-Jun % Notes: 1. Performance stated for lowest costed share class on a Bid Bid basis, source: Emirates NBD Asset Management and Bloomberg. 2. Volatility is the annualised monthly standard deviation of the fund/product since inception. 3. Shari a compliant funds have been approved by the Shari a Board of Emirates NBD Asset Management Ltd. * The Emirates Real Estate Fund valuation is as on 30 June Risk Rating 1: Low Risk 2: Low-Medium Risk 3: Medium - High Risk 4: High Risk

3 In-house Fund Range - Share Class Details Share Currency Initial Management Performance Exit / Dealing Minimum initial ISIN Sedol BB Class Charge Fee Fee Distributor s Fee Frequency Investment Code Code Code Emirates MENA Fixed Income Fund A Acc USD Up to 4% 1.25% N/A N/A Daily USD 25,000 JE00B5SW7F66 EMFXIAA JY B5SW7F6 A Inc USD Up to 4% 1.25% N/A N/A Daily USD 25,000 JE00B5VNJV68 EMFXIAI JY B5VNJV6 A Acc EUR Up to 4% 1.25% N/A N/A Daily EUR 20,000 JE00B4N5GS90 EMFXEAA JY B4N5GS9 B Acc * USD N/A 1.25% N/A Yes / 0.5% Daily USD 25,000 JE00B5KXKZ88 EMFXIBA JY B5KXKZ8 B Inc * USD N/A 1.25% N/A Yes / 0.5% Daily USD 25,000 JE00B5T8XW29 EMFXIBI JY B5T8XW2 B Acc * GBP N/A 1.25% N/A Yes / 0.5% Daily GBP 15,000 JE00B58MSN14 EMFXSBA JY B58MSN1 C Acc USD N/A 1.25% N/A Yes / 0.5% Daily USD 25,000 JE00B5KQ0B33 EMFXICA JY B5KQ0B3 C Inc USD N/A 1.25% N/A Yes / 0.5% Daily USD 25,000 JE00B5T7BV43 EMFXICI JY B5T7BV4 C Acc GBP N/A 1.25% N/A Yes / 0.5% Daily GBP 15,000 JE00B6YCQ949 EMFXCBO JY B6YCQ9 E Acc AED Up to 4% 1.25% N/A N/A Daily AED 3,500,000 JE00B64QJ538 EMFXIEA JY B64QJ53 G Acc USD Up to 4% 1.35% N/A No / 0.5% Daily USD 25,000 JE00B76GBD03 EMFXUGA JY B76GBD0 G Inc USD Up to 4% 1.35% N/A No / 0.5% Daily USD 25,000 JE00B73GGD84 EMFXUGI JY B73GGD8 I Acc USD Up to 4% 1.00% N/A N/A Daily USD 1,000,000 JE00B5T7CB12 EMFXIIA JY B5T7CB1 I Inc USD Up to 4% 1.00% N/A N/A Daily USD 1,000,000 JE00B5KMDW34 EMFXIII JY B5KMDW3 Emirates Global Sukuk Fund A Acc USD Up to 4% 1.25% N/A N/A Daily USD 10,000 GB00B EMDYLQR JY B A Inc USD Up to 4% 1.25% N/A N/A Daily USD 10,000 JE00B636PZ67 EMGSKAI JY B636PZ6 A Acc EUR Up to 4% 1.25% N/A N/A Daily EUR 7,000 JE00B5V8LK49 EMGSKAA JY B5V8LK4 B Acc * USD N/A 1.25% N/A Yes / 0.5% Daily USD 10,000 JE00B629B698 EMGSKBA JY B629B69 B Inc * USD N/A 1.25% N/A Yes / 0.5% Daily USD 10,000 JE00B5NK3X56 EMGSKBI JY B5NK3X5 C Acc USD N/A 1.25% N/A Yes / 0.5% Daily USD 10,000 JE00B62ZNK52 EMGSKCA JY B62ZNK5 C Inc USD N/A 1.25% N/A Yes / 0.5% Daily USD 10,000 JE00B62VLC17 EMGSKCI JY B62VLC1 I Acc USD Up to 2% 1.10% N/A N/A Daily USD 1,000,000 GB00B EMDYLQI JY B I Inc USD Up to 2% 1.10% N/A N/A Daily USD 1,000,000 JE00B6361Y75 EMGSKII JY B6361Y7 Emirates Islamic Money Market Fund A Acc USD Up to 1% 0.50% N/A N/A Daily USD 10,000 JE00B5T1J560 EMISMMA JY B5T1J56 A Acc GBP Up to 1% 0.50% N/A N/A Daily GBP 6,000 JE00B5WFSQ97 EMIMMAG JY B5WFSQ9 A Acc EUR Up to 1% 0.50% N/A N/A Daily EUR 7,000 JE00B604LZ51 EMIMMAE JY B604LZ5 A Acc SGD Up to 1% 0.50% N/A N/A Daily SGD 15,000 JE00B6TPKF25 EMIMMAS JY B6TPKF2 I Acc USD Up to 1% 0.25% N/A N/A Daily USD 1,000,000 JE00B5VNNC57 EMISMMI JY B5VNNC5 I Acc GBP Up to 1% 0.25% N/A N/A Daily GBP 600,000 JE00B5SWDL45 EMIMMIG JY B5SWDL4 I Acc EUR Up to 1% 0.25% N/A N/A Daily EUR 700,000 JE00B6TPR287 EMIMMIE JY B6TPR28 E Acc AED Up to 1% 0.50% N/A N/A Daily AED 20,000 JE00B5KXN372 EMISMME JY B5KXN37 EI Acc AED Up to 1% 0.25% N/A N/A Daily AED 3,500,000 JE00B5W2ZM52 EISMMEI JY B5W2ZM5 S Acc SAR Up to 1% 0.50% N/A N/A Daily SAR 20,000 JE00B5L0G160 EMISMMS JY B5L0G16 SI Acc SAR Up to 1% 0.25% N/A N/A Daily SAR 1,000,000 JE00B5W41P64 EMISMMG JY B5W41P6

4 In-house Fund Range - Share Class Details Share Currency Initial Management Performance Exit / Dealing Minimum initial ISIN Sedol BB Class Charge Fee Fee Distributor s Fee Frequency Investment Code Code Code Emirates Active Managed Fund A Acc USD Up to 5% 1.50% N/A N/A Daily USD 25,000 JE00B61GMK24 EMACMGA JY B61GMK2 B Acc * USD N/A 1.60% N/A Yes / 1.20% Daily USD 25,000 JE00B61GCS02 EMACMGB JY B61GCS02 B Acc * GBP N/A 1.60% N/A Yes / 1.20% Daily GBP 15,000 JE00B5L03371 EMACMBG JY B5L0337 C Acc ** USD N/A 1.60% N/A Yes / Up to 5% Daily USD 25,000 JE00B618N506 EMACMGC JY B618N50 C Acc ** GBP N/A 1.60% N/A Yes / Up to 5% Daily GBP 15,000 JE00B7V9FY38 EMACMCG JY B7V9FY378 G Acc USD Up to 5% 1.60% N/A N/A Daily USD 25,000 JE00B3Y8P831 EMACMGG JY B3Y8P831 Emirates Balanced Managed Fund A Acc USD Up to 5% 1.50% N/A N/A Daily USD 25,000 JE00B61GFJ26 EMBAMGA JY B61GFJ2 B Acc * USD N/A 1.60% N/A Yes / 1.20% Daily USD 25,000 JE00B61LCC94 EMBAMGB JY B61LCC9 B Acc * GBP N/A 1.60% N/A Yes / 1.20% Daily GBP 15,000 JE00B407XR64 EMBAMBG JY B4077XR6 C Acc ** USD N/A 1.60% N/A Yes / Up to 5% Daily USD 25,000 JE00B61HWL61 EMBAMGC JY B61HWL6 C Acc ** GBP N/A 1.60% N/A Yes / Up to 5% Daily GBP 15,000 JE00B83VV350 EMBMNCS JY B83VV35 G Acc USD Up to 5% 1.60% N/A N/A Daily USD 25,000 JE00B3SWYQ21 EMBAMGG JY B3SWYQ2 Emirates Conservative Managed Fund A Acc USD Up to 5% 1.50% N/A N/A Daily USD 25,000 JE00B618N720 EMCOMGA JY B618N72 B Acc * USD N/A 1.60% N/A Yes / 1.20% Daily USD 25,000 JE00B61GG226 EMCOMGB JY B61GG22 B Acc * GBP N/A 1.60% N/A Yes / 1.20% Daily GBP 15,000 JE00B4Y3R456 EMCOMBG JY B4Y3R45 C Acc ** USD N/A 1.60% N/A Yes / Up to 5% Daily USD 25,000 JE00B61LCD02 EMCOMGC JY B61LCD0 C Acc ** GBP N/A 1.60% N/A Yes / Up to 5% Daily GBP 15,000 JE00B88FMW87 EMCOMCS JY B88FMW8 G Acc USD Up to 5% 1.60% N/A N/A Daily USD 25,000 JE00B3T4KF81 EMCOMGG JY B3T4KF8 Emirates Islamic Global Balanced Fund A Acc USD Up to 5% 1.50% N/A N/A Daily USD 25,000 JE00B61GFJ26 EMBAMGA JY B61GFJ2 B Acc * USD N/A 1.60% N/A Yes / 1.20% Daily USD 25,000 JE00B61LCC94 EMBAMGB JY B61LCC9 B Acc * GBP N/A 1.60% N/A Yes / 1.20% Daily GBP 15,000 JE00B407XR64 EMBAMBG JY B4077XR6 C Acc ** USD N/A 1.60% N/A Yes / Up to 5% Daily USD 25,000 JE00B61HWL61 EMBAMGC JY B61HWL6 C Acc ** GBP N/A 1.60% N/A Yes / Up to 5% Daily GBP 15,000 JE00B83VV350 EMBMNCS JY B83VV35 G Acc USD Up to 5% 1.60% N/A N/A Daily USD 25,000 JE00B3SWYQ21 EMBAMGG JY B3SWYQ2 Emirates Emerging Market Equity Fund A Acc USD Up to 5% 1.50% N/A N/A Daily USD 25,000 JE00B244B530 EMISOPH JY B244B53 B Acc * USD N/A 1.50% N/A Yes / 1.20% Daily USD 25,000 JE00B6VVNK49 EEMEFUB JY B6VVNK4 C Acc ** GBP N/A 1.50% N/A Yes / 1.20% Daily USD 25,000 JE00B6VY9162 EEMEFUC JY B6VY916 G Acc USD N/A 1.50% N/A N/A Daily USD 25,000 JE00B6YW1887 EEMEFUG JY B6YW188 I Acc GBP Up to 5% 1.25% N/A N/A Daily USD 1,000,000 JE00B244B423 EMISINS JY B244B42

5 In-house Fund Range - Share Class Details Share Currency Initial Management Performance Exit / Dealing Minimum initial ISIN Sedol BB Class Charge Fee Fee Distributor s Fee Frequency Investment Code Code Code Emirates MENA Top Companies Fund A Acc USD Up to 5% 1.75% Yes N/A Daily USD 25,000 JE00B1XBLR09 EMMTCFI JY B1XBLRO B Acc * USD N/A 1.75% Yes Yes / 0.5% Daily USD 25,000 JE00B44RN944 EMMTCPB JY B44RN94 B Acc * GBP N/A 1.75% Yes Yes / 0.5% Daily GBP 15,000 JE00B6STKT91 EMMTCBG JY B6STKT9 C Acc USD N/A 1.75% Yes Yes / 0.5% Daily USD 25,000 JE00B46JLR25 EMMTCPC JY B46JLR2 E Acc AED Up to 5% 2.00% Yes N/A Daily AED 50,000 JE00B2R8G806 EMMTCAE JY B2R8G80 I Acc USD Up to 5% 1.50% Yes N/A Daily USD 1,000,000 JE00B1XBLQ91 EMMTCFA JY B1XBLQ9 P Acc USD Up to 5% 1.50% No N/A Daily USD 5,000,000 JE00B4XBSD62 EMMTCPD JY B4XBSD6 Emirates MENA High Income Fund A Acc USD Up to 5% 1.75% Yes N/A Daily USD 25,000 JE00B1XBLT23 EMHINSA JY B1XBLT2 A Inc USD Up to 5% 1.75% Yes N/A Daily USD 25,000 JE00B3L59X01 EMHINSI JY B3L59X0 B Acc * USD N/A 1.75% Yes Yes / 0.5% Daily USD 25,000 JE00B3N13D40 EMHINBA JY B3N13D4 C Acc USD N/A 1.75% Yes Yes / 0.5% Daily USD 25,000 JE00B3XDKF18 EMHINCA JY B3XDKF1 I Acc USD Up to 5% 1.50% Yes N/A Daily USD 1,000,000 JE00B1XBLS16 EMHINIA JY B1XBLS1 I Inc USD Up to 5% 1.50% Yes N/A Daily USD 1,000,000 JE00B3L59W93 EMHINII JY B3L59W9 P Acc USD Up to 5% 1.50% No N/A Daily USD 5,000,000 JE00B4X9R009 EMHINCP JY B4X9R00 Emirates MENA Opportunities Fund A Acc USD Up to 5% 1.50% Yes N/A Daily USD 10,000 GB00B1436X66 EMMENAO JY B1436X6 B Acc * USD N/A 1.50% Yes Yes / 0.5% Daily USD 10,000 JE00B3NMKD60 EMMOPBA JY B3NMKD6 C Acc USD N/A 1.50% Yes Yes / 0.5% Daily USD 10,000 JE00B4RP0277 EMMOPPC JY B4RP027 E Acc AED Up to 5% 1.75% Yes N/A Daily AED 50,000 JE00B2R8GB34 EMIRAED JY B2R8GB3 I Acc USD Up to 5% 1.50% Yes N/A Daily USD 1,000,000 JE00B3RDYY41 EMMOPIA JY B3RDYY4 P Acc USD Up to 5% 1.50% Yes N/A Daily USD 5,000,000 JE00B4XFJD51 EMMOPPP JY B4XFJD5 Emirates Real Estate Fund A Acc USD Up to 5% 1.50% Yes Yes Quarterly USD 100,000 GB00B0D0DW97 EMIRATA JY B0D0DW9 Income Inc USD Up to 5% 1.50% Yes Yes Quarterly USD 100,000 GB00B0CV5M70 EMIRATI JY B0CV5M7 E Acc AED Up to 5% 1.50% Yes Yes Quarterly AED 367,300 JE00B2R8G913 EMIRATE JY B2R8G91 * A deferred sales fee of 1.20% is payable on this share class. An exit fee is payable on this share class % from redemption proceeds for the first 12 months since subscription. ** A deferred sales fee of 1.00% is payable on this share class for the first five years. A deferred sales fee of 1.00% per annum is payable on this share class for the first five years after subscription (this will be paid upfront but will be amortised back over 5 years). An exit fee is payable on this share class - 5%(1st year); 4%(2nd year); 3%(3rd year); 2%(4th year); 1%(5th year); 0% thereafter. Performance Fee (Emirates MENA Top Companies and Opportunities Funds): Up to 10% of the increase in NAV over and above the hurdle rate of 10%. Performance Fee (Emirates MENA High Income Fund): Up to 10% of the increase in NAV over and above the hurdle rate of USD 3 month LIBOR + 400bps. An exit fee is payable on all the share classes of the Emirates Real Estate Fund - 5%(1st year); 4%(2nd year); 3%(3rd year); 2%(4th year); 1%(5th year); 0% thereafter.

6 Disclaimer Emirates NBD Fund Managers (Jersey) Limited, Emirates Funds Limited, Emirates Portfolio Management PCC and all their underlying sub funds, domiciled in Jersey, are regulated by the Jersey Financial Services Commission. The information and opinions expressed herein are made in good faith and are based on sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy, completeness or correctness. These opinions are not intended to serve as authoritative investment advice and should not be used in substitution for the exercise of own judgement. This information, including any expression of opinion, has been obtained from or is based upon sources believed to be reliable, and is believed to be fair and not misleading. Any opinion or estimate contained in this presentation is subject to change without notice. Neither Emirates NBD Group nor any of its directors or employees give any representation or warranty as to the reliability, accuracy or completeness of the information, nor do they accept any responsibility arising in any way (including by negligence) for errors in, or omissions from the information. For further details of the investment products available from the Emirates NBD Group please contact your local Emirates NBD Bank PJSC / Emirates Islamic Bank PJSC Branch. This document is provided for information and illustration purposes only. It does not constitute a solicitation, recommendation or offer to buy or sell any specific investment product or subscribe to any specific investment management or advisory service. Prospective investors in a Fund must obtain and carefully read the Fund s most recent Private Placement Memorandum and Supplement as well as seek separate, independent financial advice if required prior to making an investment in the Fund to assess the suitability, lawfulness and risks involved. This information is not for distribution to the general public but for intended recipients only and may not be published, circulated, reproduced or distributed in whole or part to any other person without the written consent of Emirates NBD Asset Management Ltd ( Emirates NBD AM ). Where this presentation relates to a Fund or an investment product licensed to be marketed, it is directed to persons authorized to invest in the Fund / investment product as applicable, and residing in jurisdictions where the Fund / investment product is authorized for distribution or where no such authorization is required. The Fund / investment product is intended for sophisticated investors only who understand the risks involved in investing in the Fund / investment product and can withstand any potential loss there from. The Fund / investment product may not be guaranteed and historical performances are not indicative of the future or likely performance and should not be construed as being indicative of or otherwise used as a proxy for the future or likely performance of the funds / investment products. The value of the investment and the income from it can fall as well as rise as the Funds / investment products are subject to investment risks, including the possible loss of the principal amount invested. The information contained herein does not have any regard to the specific investment objectives, financial situation or the particular needs of any person. All Shari a compliant products and services are approved by the Shari a Supervisory Board of Emirates NBD Asset Management Limited. Emirates NBD Fund Managers (Jersey) Limited, Emirates Funds Limited, Emirates Portfolio Management PCC and all their underlying sub funds, domiciled in Jersey, are regulated by the Jersey Financial Services Commission. Past performance is not indicative of future performance. The value of investments and the income derived from them may go down as well as up and you may not receive back all the money which you invest. This information has been distributed by Emirates NBD AM for and on its own behalf. Emirates NBD AM is regulated by the Dubai Financial Services Authority. Emirates NBD, London Branch Regulatory Status Notice Emirates NBD London Branch is authorised and regulated by the United Kingdom Financial Services Authority ( FSA ) and acts as a distributor of investment fund products managed by Emirates NBD Asset Management Limited, a company regulated by the Dubai Financial Services Authority ( DFSA ) in the Dubai International Financial Centre ( DIFC ), Dubai UAE. For the purposes of UK FSA regulation, the Fund constitutes an Unregulated Collective Investment Scheme ( UCIS ) and as such does not benefit from the protections afforded to Retail Clients of the Bank. The protections that you are not afforded under this arrangement include but are not limited to risk disclosure and disclosure of fees by us from other parties in respect of this introduction service. You will not be covered by the Financial Ombudsman Service and/or Financial Services Compensation Scheme. The distribution and promotion will only be directed at persons who are themselves eligible to receive information on an UCIS. This material should not be relied upon by persons of any other description. Emirates NBD London Branch will provide you with information on Unregulated Collective Investment Schemes and other services offered by Emirates NBD Asset Management (the Funds ) with a view to you subscribing to those funds either on your own or on another s behalf. If you are an eligible counterparty, Emirates NBD London Branch will not consider any matter relating to the suitability or appropriateness of the Funds for you or your clients or other parties with whom you communicate. You retain the sole responsibility for ensuring that any products or services which you subscribe to, on your own or on another s behalf, or otherwise recommend or arrange, are suitable for you and/or your clients. Emirates NBD London Branch receives monies from Emirates NBD Asset Management in respect of the introductions it makes. This document is furnished in Singapore by Emirates NBD Bank, Singapore Branch. The shares of the sub-funds do not relate to a collective investment scheme which is authorised under section 286 of the Securities and Futures Act, Chapter 289 of Singapore (the SFA ) or recognised under section 287 of the SFA. The Sub-Funds are not authorised or recognised by the Monetary Authority of Singapore (the MAS ) and Shares are not allowed to be offered to the retail public. Any document or material issued in connection with the offer or sale is not a prospectus as defined in the SFA. Accordingly, statutory liability under the SFA in relation to the content of prospectuses would not apply. You should consider carefully whether the investment is suitable for you, in terms of your overall investment objectives and risk appetite. The Prospectus of this fund has not been registered as a prospectus with the MAS. Accordingly, this Prospectus and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of Shares may not be circulated or distributed, nor may Shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 304 of the SFA, (ii) to a relevant person pursuant to Section 305(1), or any person pursuant to Section 305(2), and in accordance with the conditions specified in Section 305 of the SFA, or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.