Eastspring Investments Funds Monthly Income Plan

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1 Factsheet Singapore December 2018 All data as at 30 November 2018 unless otherwise stated Eastspring Investments Funds Monthly Income Plan FUND DETAILS Fund size (mil) Fund base currency Fund dealing frequency SGD Daily Net asset value (Class M) SGD ISIN (Class M) Inception date (Class M) SG Feb-05 Benchmark (BM) 50% J.P. Morgan Asia Credit Index & 50% ICE BofAML US High Yield Constrained Index (SGD hedged) Underlying Fund Size Eastspring Investments - Asian Bond Fund USD 3,412.7 mil Eastspring Investments - US High Yield Bond Fund USD 1,442.9 mil FUND MEASURES 3 year tracking error(%) (Class M) year sharpe ratio (Class M) year volatility(%) (Class M) 4.1 Source: Morningstar FUND ALLOCATION (%) Eastspring Investments - US High Yield Bond Class D Eastspring Investments - Asian Bond Class D Equities 10.7 Cash and cash equivalents* 1.3 not add up to 100% or may be negative. *Does not include Cash and cash equivalents of the underlying funds. COUNTRY WEIGHTS (%) United States 44.4 China 15.4 Singapore 8.6 Indonesia 4.7 Luxembourg 4.7 India 2.7 Korea 2.4 Hong Kong 2.3 Other countries 11.4 not add up to 100% or may be negative. INVESTMENT OBJECTIVE The investment objective of the Eastspring Investments Funds - Monthly Income Plan is to seek to provide investors with regular income and capital growth by investing: (i) 30% to 70% of its assets into the Luxembourg domiciled Eastspring Investments - US High Yield Bond Fund; and (ii) 30% to 70% of its assets into the Luxembourg domiciled Eastspring Investments - Asian Bond Fund. The Fund may in addition, at the Manager s absolute discretion, invest up to 20% of its assets in any other Asia Pacific investments (including real estate investment trusts, dividend yielding equities and any other subfunds of the Eastspring Investments, subject to the prior approval of the Authority where necessary). PERFORMANCE Calendar year returns (%) (Class M) Offer-bid Bid-bid Benchmark Returns (%) Class M 1 m 3 m YTD 1 y 3 y 5 y 10 y inception Offer-bid Bid-bid Benchmark : per annum. Source: Eastspring Investments (Singapore) Limited. Calendar year returns are based on the share class performance for the year, and if the share class was incepted during a particular year, the returns shown relate to the performance of the share class since its inception to the end of that calendar year. For full details, please refer to the performance disclosure. TOP 10 HOLDINGS (%) 1. EASTSPRING INV ASIAN HY BD D USD SINGAPORE TELECOMMUNICATIONS LTD DBS GROUP HOLDINGS LTD UNITED OVERSEAS BANK LTD OVERSEA-CHINESE BANKING LTD BNYMELLON USD LIQUIDITY FUND BAUSCH HEALTH COS INC 6.125% 15/04/ HCA INC 5.375% 01/02/ ALTICE FRANCE SA 7.375% 01/05/ SPRINT CAPITAL CORP 6.875% 15/11/ The Fund may use Futures to gain market exposure which may not be included in the Top 10 Holdings. Page 1 / 5

2 RATINGS (%) AAA 0.1 AA 0.9 A 7.2 BBB 18.3 BB 26.1 B 21.5 CCC 5.9 CC 0.5 Non-Rated 16.1 Credit ratings of securities held by Underlying Funds are by S&P/Moody's/Fitch. RELEVANT CLASS DETAILS MATURITY (%) 0-1 year years years years years 5.3 Others 11.8 SECTOR WEIGHTS (%) Industrials 55.1 Government 15.3 Financials 14.3 Materials 1.6 Consumer discretionary 1.6 Communication Services 1.2 Energy 1.1 Utilities 1.0 Other sectors 5.4 Class Currency Net asset value Bloomberg ticker ISIN Inception date Subscription method Initial sales charges% (max) Annual management fee % (Current) A SGD PRUSMON SP SG Feb-05 Cash, SRS IA SGD ESMIPIA SP SG May-17 Cash M SGD PRUSMOM SP SG Feb-05 Cash, SRS M (RMB hedged) CNH PMIPRMB SP SG Sep-13 Cash Class Currency Annual admin fee% (max) Minimum initial investment Minimum subsequent investment Distribution frequency Ex-date Dividend per unit A SGD Nil SGD 1,000 SGD 100 Yearly 01-Feb IA SGD Nil SGD 10 Mil SGD 1,000 Yearly 01-Feb M SGD Nil SGD 1,000 SGD 100 Monthly 03-Dec M (RMB hedged) CNH Nil CNH 10,000 CNH 500 Monthly 03-Dec Distributions are not guaranteed. Distributions may be paid out of distributable income, capital or both. Important Notes: (i) Payment of distributions out of capital amounts to a return or withdrawal of part of an investor s original investment or from any capital gains attributable to that original investment; and (ii) Any distributions involving payment out of the Fund s capital may result in an immediate reduction of the net asset value per unit. "N.A." means that the relevant class does not distribute dividends. Returns (%) Calendar year returns (%) 3 y 5 y 10 y Class / currency 1 m 3 m YTD 1 y inception A / SGD Offer-bid Bid-bid Benchmark IA / SGD Offer-bid Bid-bid Benchmark M / SGD Offer-bid Bid-bid Benchmark M (RMB hedged) / CNH Factsheet Singapore December 2018 All data as at 30 November 2018 unless otherwise stated Page 2 / 5

3 Returns (%) Calendar year returns (%) 3 y 5 y 10 y Class / currency 1 m 3 m YTD 1 y inception Offer-bid Bid-bid Benchmark Performance Disclosure: : per annum. Source: Eastspring Investments (Singapore) Limited. Returns are based in the relevant class currency and computed on bid-bid basis with net income reinvested, if any. Offer-bid is inclusive of sales charge which is subject to changes. inception returns for periods less than a year are not annualised. The benchmark for the hedged classes, if any, is also calculated on a hedged basis. From inception to 31-May-12, the benchmark was the 12 month SGD Fixed Deposit Rate. Calendar year returns are based on the relevant class performance for the year, and if the relevant class was incepted during a particular year, the returns shown relate to the performance of that class since its inception to the end of that calendar year. Wef July 2018, the monthly fund and benchmark returns calculated are aligned to the last NAV date of the fund for the month. Past performance information presented is not indicative of future performance. Factsheet Singapore December 2018 All data as at 30 November 2018 unless otherwise stated Page 3 / 5

4 COMMENTARY Commentary sources 1.Eastspring Investments (Singapore) Limited Market Review Global equities recovered somewhat in November and posted some modest gains, after falling sharply in October, led by Asia and Emerging Markets, whilst the US also ended higher. US stocks continued to be supported by encouraging economic data, including a strong labour market with a larger than expected number of jobs added in October as well as a more dovish tone by Federal Reserve Chairman Powell, suggesting additional rate hikes might be limited. In addition, markets were lifted by the US midterm election results which came in largely as expected. Asian and Emerging Markets rebounded in November. Whilst US-China trade tensions continued to dominate investor sentiment, with speculation and caution in the lead up to the G20 summit, markets were boosted by optimism around more gradual rate hikes by the Fed and lower US borrowing costs, as well as a weaker oil price which supported net oil importers in the region. European stocks were lower amid slower economic growth figures, including a contraction of Germany s economy in the third quarter, whilst the uncertainty around Italy s 2019 budget continued after the European Commission rejected the country s draft plans. Sentiment across the region was further weakened by declines in the UK on Brexit concerns and the weaker oil price dragging down the oil majors. Returns from fixed income assets were generally positive during November, in part due to the mixed performance of equity markets during the month, with appetite for risk assets still subdued after the significant sell offs seen in October and amid several bouts of market volatility leading to the G20 summit at the end of the month. In this environment, Sovereign bonds and higher quality credit generally performed better. Most significant for the market, however, was the Fed s more dovish tone with Jerome Powell suggesting that rates were just below estimates of a level that neither stalls nor boosts the economy which supported US Treasuries, with long duration US Treasuries performing very strongly, whilst US High Yield posted mild declines during the month. Fund Review The Fund underperformed its benchmark in November. The Fund s overweight to US High Yield Bonds was a drag on relative performance during the month as the asset class underperformed relative to Asian Bonds. Stock selection within the underlying US High Yield Bond portfolio was also negative. The Fund s exposure to equity was positive, however, with the Manager mildly raising exposure at the start of the month, benefiting performance as Singapore equities recovered with broader Asian equities during the month. Outlook The rise in implied volatility across asset classes may be reflecting the shift from goldilocks macro conditions of extremely accommodative policy and financial conditions to a period of increased monetary policy uncertainty and rising trade war and protectionism risks. We continue to hedge a portion of the Fund s equities exposure given the more uncertain macroeconomic outlook in the near term, although we remain exposed to its dividend income stream. Our central scenario remains one of benign inflation, combined with moderate economic and earnings growth. Factsheet Singapore December 2018 All data as at 30 November 2018 unless otherwise stated Page 4 / 5

5 IMPORTANT INFORMATION Investment manager - Eastspring Investments (Singapore) Limited Investment sub-manager - PPM America, Inc. Disclaimer This document is solely for information and may not be published, circulated, reproduced or distributed in whole or part to any other person without the prior written consent of Eastspring Investments (Singapore) Limited ( Eastspring Singapore ) (Company Reg No H). This advertisement has not been reviewed by the Monetary Authority of Singapore. This document is not an offer, solicitation of an offer, or a recommendation to transact in the investment units in the Fund. The information contained herein does not have any regards to the specific investment objectives, financial situation or particular needs of any person. A prospectus in relation to the Fund is available and a copy of the prospectus may be obtained from Eastspring Singapore and its distribution partners. Investors should read the prospectus and seek professional advice before making any investment decision. In the event that investor chooses not to seek advice, he should consider carefully whether the Fund in question is suitable for him. The value of units in the Fund and the income accruing to the units, if any, may fall or rise. Past performance of the Fund/Manager is not necessarily indicative of the future performance. Any prediction, projection or forecast on the economy, securities markets or the economic trends of the markets targeted by the Fund is not necessarily indicative of the future performance of the Fund. An investment in the Fund is subject to investment risks, including the possible loss of the principal amount invested. Whilst Eastspring Singapore has taken all reasonable care to ensure that the information contained in this document is not untrue or misleading at the time of publication, Eastspring Singapore cannot guarantee its accuracy or completeness. Any opinion or estimate contained in this document is subject to change without notice. The Fund/ underlying Fund(s) may use derivative instruments for efficient portfolio management and hedging purposes. Distributions are not guaranteed and may fluctuate. Past distributions are not necessarily indicative of future trends, which may be lower. Distribution payouts and its frequency are determined by the Manager, Eastspring Singapore, and can be made out of (a) income; or (b) net capital gains; or (c) capital of the Fund or a combination of (a) and/or (b) and/or (c). The payment of distributions should not be confused with the Fund s performance, rate of return or yield. Any payment of distributions by the Fund may result in an immediate decrease in the net asset value per unit. The preceding paragraph is only applicable if the Fund intends to pay dividends / distributions. Eastspring Singapore is an ultimately wholly-owned subsidiary of Prudential plc of the United Kingdom. Eastspring Singapore and Prudential plc are not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America. In case of discrepancy between the English and Chinese versions, the English version shall prevail. Notes: The name of the Fund Eastspring Investments Funds - Monthly Income Plan should not be taken as implying that monthly or regular distributions in respect of units will be made. For more information, please contact: Eastspring Investments (Singapore) Limited UEN: H 10 Marina Boulevard #32-01 Marina Bay Financial Centre Tower 2 Singapore T: (65) F: (65) eastspring.com.sg Factsheet Singapore December 2018 All data as at 30 November 2018 unless otherwise stated Page 5 / 5

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