Allianz Global Investors Premier Funds

Transcription

1 Product Highlights Sheet dated 29 April 2011 Allianz Global Investors Premier Funds AllianzGI Asia Balanced Fund AllianzGI Choice Equity Fund AllianzGI Enhanced Income & Growth Fund AllianzGI US High Yield Fund RCM Global High Payout Fund RCM Global Twin-Focus Fund Allianz Global Investors Singapore Limited

2 Prepared on 29/04/11 Content Page 1. AllianzGI Asia Balanced Fund 1 2. AllianzGI Choice Equity Fund 5 3. AllianzGI Enhanced Income & Growth Fund 9 4 AllianzGI US High Yield RCM Global High Payout Fund RCM Global Twin Focus Fund 22 PRODUCT HIGHLIGHTS SHEET 1

3 Prepared on 29/04/11 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Prospectus 1. It is important to read the Prospectus before deciding whether to purchase units in the product. If you do not have a copy, please contact us to ask for one. You should not invest in the product if you do not understand it or are not comfortable with the accompanying risks. If you wish to purchase the product, you will need to make an application in the manner set out in the Prospectus. AllianzGI Asia Balanced Fund (the Fund ) Product Type Unit Trust Launch Date To be announced Manager Allianz Global Investors Custodian HSBC Securities Services Singapore Limited Trustee HSBC Institutional Trust Services (Singapore Limited) Dealing Frequency Every Business Day Capital Guaranteed No Expense Ratio Not yet available Name of Guarantor None WHO IS THE PRODUCT SUITABLE FOR? PRODUCT SUITABILITY The Fund is only suitable for investors who : o seek long term capital appreciation from a portfolio of fixed-income instruments and Asian ex-japan equities;. o understand and are comfortable with the volatility and risks associated with a portfolio comprising of both equities and bond funds. WHAT ARE YOU INVESTING IN? KEY PRODUCT FEATURES You are investing in a unit trust constituted in Singapore that aims to achieve long term capital appreciation, as well as stable income, by investing in the equities of Asian (ex-japan) companies (the equities portfolio ) and fixed-income securities denominated primarily in Singapore Dollars (the fixed-income portfolio ). Please refer to Schedule 1 on page 33 of the Prospectus for further information Please refer to Schedule 1 on page 33 of the Prospectus for further information PRODUCT HIGHLIGHTS SHEET Investment Strategy The Manager may invest up to 60% of the Fund in the equities portfolio and up to 100% of the Fund in the fixed-income portfolio; For the equities portfolio, the Manager aims to identify well-managed companies with consistent track records in generating earnings growth at decent valuation that offers attractive risk-reward ratio. This also includes identifying stocks with catalysts that would result in a re-rating; For the fixed income portfolio, the Manager aims to identify high credit quality issuers through macro analysis (complemented by bottom-up credit analysis), Total return analysis and Relative return analysis, amongst others; The Managers may invest up to 5% of the deposited property of the Sub-Fund in equities of non-asian (ex-japan) companies. Please refer to Schedule 1 on page 33 of the Prospectus for further information 1 The Prospectus is available for collection at the Manager s registered office or any of its appointed distributors or accessible at 1

4 Prepared on 29/04/11 Parties Involved WHO ARE YOU INVESTING WITH? The Fund is a sub-fund constituted under Allianz Global Investors Premier Funds, an umbrella fund; The Manager is Allianz Global Investors Singapore Limited; The Trustee is HSBC Institutional Trust Services (Singapore) Limited. Please refer to Management on page 2 of the Prospectus for further information KEY RISKS WHAT ARE THE KEY RISKS OF THIS INVESTMENT? The value of your investment may rise or fall, and the amount and frequency of distributions are at the sole discretion of the Manager and are not guaranteed. You are exposed to interest rate and credit risk o Your investment will be subject to the usual risks of investing in bonds and other fixed income securities which are subject to interest rate fluctuations and credit risks, such as risk of default by issuers. o Your investment will also be subject to adverse changes in the financial condition of the issuer, or a rise in interest rates, which may impair the ability of the issuer to make payments of interest and principal, especially if the issuer is highly leveraged; o As interest rates rise, the value of fixed income securities is likely to decrease. In particular, longer dated securities tend to be more sensitive to changes in interest rates, usually making them more volatile than shorter dated securities. You are exposed to foreign exchange risk. o The Fund may hold assets denominated in foreign currencies. Fluctuations in the exchange rates between the based currency of the Fund and the foreign currencies may have an impact on the income and value of the Fund. The Manager currently do not intend to hedge against any potential foreign currency exposure although it has the discretion to do so in the future. You are exposed to company-specific risk. o The price development of the securities held by the Fund is also dependent on company specific factors, i.e. the issuer s business situation. Market and Credit Risks Please refer to Risks on page 13 and Schedule 1 on page 33 of the Prospectus for further information PRODUCT HIGHLIGHTS SHEET You are exposed to market risk in the global market place o Your investments may go up or down due to changing economic, political or market conditions that impact the share price of the companies that the Fund invests in. Liquidity Risks The Fund is not listed and you can redeem only on Dealing Days. o There is no secondary market for the Fund. All redemption requests should be made to the Manager or the approved distributors from whom you purchased the Fund. 2

5 Prepared on 29/04/11 Product-Specific Risks You are exposed to country and region risk o To the extent the Fund s investments into a limited number of countries or regions, the level of diversification is also reduced. Consequently, the Fund s performance may be particularly dependent on the development of individual or related countries and regions, and of companies based and operating in those countries or regions. You are exposed to emerging markets risk o Emerging markets are less liquid and more volatile than the world s leading stock markets and this may result in fluctuations in the prices of the Fund. In addition, practices regarding the settlement of securities and custody of assets and the legal infrastructure, accounting, auditing and reporting standards in emerging markets could provide increased risk. You are exposed to risk associated with investment in small capitalization companies o The securities of small capitalization companies are generally less liquid than the securities of larger companies as the low daily volumes of units traded may result in their units being less liquid. FEES AND CHARGES WHAT ARE THE FEES AND CHARGES OF THIS INVESTMENT? You will need to pay the following fees and charges as a percentage of the gross investment sum: Initial Sales Charge Switching fee Realisation Charge Current Maximum Current Minimum Maximum Current Maximum Up to 5% 5% 1% SGD 50 3% Nil 2% The Fund will pay the following fees and charges to the Manager and Trustee: Management Fee Trustee s Fee* Current Maximum Currently up to Minimum Maximum 1.35% p.a. 3% p.a. 0.05% p.a. SGD 1,000 per 0.05% p.a. month Please refer to Fees and Charges on page 11 of the Prospectus for further information PRODUCT HIGHLIGHTS SHEET * The Trustee s Fee is payable out of the fixed all-in fee described below. In addition to the management fee, a fixed all-in fee of 0.3% p.a. on NAV of the Fund is also payable to the Manager who will arrange to pay out of this fixed all-in fee the Trustee s Fee as well as other fees and charges such as custodian fees, registrar fees, accounting and valuation agent fees, administration fees, audit fees, tax agent fees, printing costs and other professional fees, as and when such fees and charges are incurred by the Fund. 3

6 Prepared on 29/04/11 VALUATIONS AND EXITING FROM THIS INVESTMENT HOW OFTEN ARE VALUATIONS AVAILABLE? The indicative issue price and realisation price of the Fund will be published in The Business Times, Lianhe Zaobao, Reuters, Bloomberg, The Straits Times and such other publications as the Managers may decide, and may also be obtained from the Manager s website at or any other website designated by the Manager. The actual issue price and realisation price quoted will generally be published 2 Business Days after the relevant Dealing Day. HOW CAN YOU EXIT FROM THIS INVESTMENT AND WHAT ARE THE RISKS AND COSTS IN DOING SO? You can exit the Fund at any time by writing to the Manager, either directly or through an approved distributor from whom you purchased the Fund. If you do so within the cancellation period of 7 calendar days from time of purchase, you may do so without incurring the sales charge and fees stated above. However, you will have to take the risk for any price changes in the NAV of the Fund since you purchased it. You will receive the sale proceeds within six Business Days from the time the Manager receives your request to exit from the Fund. Your exit price is determined as follows: o If you submit the redemption order before 5pm on a Business Day, you will be paid a price based on the NAV of the Fund at the close of that Business Day. o If you submit the redemption order after 5pm, you will be paid a price based on the NAV at the close of the next Business Day. The following is an illustration of the realisation proceeds that an investor will receive based on a realisation of 1,000 Units in a Class and a notional realisation price of $1.10 (the actual realisation price of the Units will fluctuate according to the NAV of the relevant Fund): 1,000 x $1.10 = $1,100 - $0.00 = $1,100 Your holding of 1,000 Units Notional Realisation price HOW DO YOU CONTACT US? Gross realisation proceeds 0% Realisation Charge CONTACT INFORMATION Net realisation proceeds Please refer to the Obtaining Prices of Units on page 20, Subscription and Issue of Units on page 14 and Realisation of Units on page 17 of the Prospectus respectively for further information PRODUCT HIGHLIGHTS SHEET All enquiries about the Fund should be directed to the Managers at: Telephone No. : Marketing.SG@AllianzGI-ap.com Website : APPENDIX: GLOSSARY OF TERMS Business Day refers to any day other than Saturday, Sunday or a gazetted public holiday on which commercial banks in Singapore are open for business, or any other day as the Manager and the Trustee may agree in writing; CPFIS refers to the Central Provident Fund Investment Scheme or such other scheme as will replace or supersede the CPFIS; Dealing Day refers to every Business Day or such other day as the Manager may determine from time to time with the approval of the Trustee; NAV refers to the net asset value of the Fund, as the context may require, as defined in the Code on Collective Investment Schemes 4

7 Prepared on 29/04/11 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Prospectus 1. It is important to read the Prospectus before deciding whether to purchase units in the product. If you do not have a copy, please contact us to ask for one. You should not invest in the product if you do not understand it or are not comfortable with the accompanying risks. If you wish to purchase the product, you will need to make an application in the manner set out in the Prospectus. AllianzGI Choice Equity Fund (the Fund ) Product Type Unit Trust Launch Date 26 February 2008 Manager Allianz Global Investors Custodian HSBC Securities Services Singapore Limited Trustee HSBC Institutional Trust Services (Singapore Limited) Dealing Frequency Weekly Capital Guaranteed No Expense Ratio as of 31 December 2009 Name of Guarantor None WHO IS THE PRODUCT SUITABLE FOR? PRODUCT SUITABILITY The Fund is only suitable for investors who understand and are comfortable with the Equity Pair Strategy (as defined below) and the use of swaps, and their associated benefits and risks. WHAT ARE YOU INVESTING IN? KEY PRODUCT FEATURES You are investing in a unit trust constituted in Singapore that aims to provide you with enhanced returns over Singapore money market rates and potential income distribution mainly by (i) investing in a short term cash portfolio to generate similar money market returns, and (ii) swaps that track an equity pair strategy to provide a return linked to the performance of the underlying assets of the swaps; You may receive regular distributions on an annual basis. The Manager will decide whether or not to make such distributions (including the amount and source of such distributions) and may consider factors such as market conditions, etc. Therefore, neither the distributions nor the capital of the Fund are guaranteed % (inclusive of performance fees) % (exclusive of performance fees) Please refer to Schedule 2 on page 38 of the Prospectus for further information. Please refer to Schedule 2 on page 38 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET 1 The Prospectus is available for collection at the Manager s registered office or any of its appointed distributors or accessible at 5

8 Prepared on 29/04/11 Investment Strategy The Manager will invest in: o short term cash or floating rate bonds and/or money market instruments, or other securities or funds which aim to generate similar money market returns, denominated in Singapore dollars or hedged into Singapore dollars (using currency forwards, swaps or options) and issued by corporations, asset-backed vehicles, governments, government agencies or supranationals; and o one or more total return swaps with counterparties (with a minimum long term issuer rating of A by Standard & Poor s or equivalent at the inception of such swaps) which track an equity pair strategy which consists of a portfolio of 15 to 40 pairs of long/short shares (the Equity Pair Strategy ); Please refer to Schedule 2 on page 38 of the Prospectus for further information. The Equity Pair Strategy: o typically invest in companies with market capitalizations greater than USD 1 billion; o involves pairing companies with particular characteristics in the long portfolio with companies with similar characteristics in the short portfolio; o short stocks it believes will underperform the paired peer, and in a similar fashion, long stocks it believes will outperform the selected paired peer. It aims to generate excess returns (or alpha) primarily from stock selection (paired longs/shorts as well as the strategy concentration) and not from cross-sector weightings. WHO ARE YOU INVESTING WITH? Parties Involved The Fund is a sub-fund constituted under Allianz Global Investors Premier Funds, an umbrella fund; The Manager is Allianz Global Investors Singapore Limited; The Manager has delegated the management of the underlying assets of the swaps portion of the investment portfolio to Allianz Global Investors Capital LLC which is part of Allianz Global Investors; The Trustee is HSBC Institutional Trust Services (Singapore) Limited. WHAT ARE THE KEY RISKS OF THIS INVESTMENT? KEY RISKS The value of your investment may rise or fall, and the amount and frequency of distributions are at the sole discretion of the Manager and are not guaranteed. You are exposed to market risk in the global market place o Your investments may go up or down due to changing economic, political or market conditions that impact the share price of the companies that the Fund invests in. You are exposed to concentration risk o As your investment will be exposed to a concentrated portfolio of a limited number of long/short pairs through the swaps, a decline in the relative performance of any of the long/short pairs will cause the Fund s overall value to decline to a greater degree than if the Fund was exposed to a less concentrated portfolio. You are exposed to foreign exchange risk o The Fund may hold assets denominated in foreign currencies. Fluctuations in the exchange rates between the base currency of the Fund and the foreign currencies may have an impact on the income and value of the Fund. Please refer to Management on page 2 of the Prospectus for further information Please refer to Risks on page 13 and Schedule 2 on page 38 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET 6

9 Prepared on 29/04/11 Market and Credit Risks You are exposed to credit risk o Your investment is subject to risk resulting from changes in the creditworthiness of its underlying investments. Liquidity Risks The Fund is not listed and you can redeem only on Dealing Days. o There is no secondary market for the Fund. All redemption requests should be made to the Manager or the approved distributors from whom you purchased the Fund. Product-Specific Risks You are exposed to derivatives risks. o The Manager will enter into swaps (which is a derivative) and may use other derivative instruments from time to time in managing the investments of the Fund. o The usage of derivatives may negatively impact the value of the Fund and the Fund may suffer greater losses than if the Fund had not used derivatives. You may be exposed to counterparty risk o The Fund may enter into transactions on over-the-counter markets, which will expose the Fund to the credit of its counterparty and its ability to satisfy the terms of such contracts. You are exposed to risks associated with performance fees o The Manager is entitled to a performance fee in addition to the management fee which may create an incentive to make investments that are more speculative; o You may have to pay performance fee even if the value of your investment has fallen from the point of subscription. FEES AND CHARGES WHAT ARE THE FEES AND CHARGES OF THIS INVESTMENT? You will need to pay the following fees and charges as a percentage of the gross investment sum: Initial Sales Charge Switching fee Realisation Charge Current Maximum Current Minimum Maximum Current Maximum Up to 5% 5% 1% SGD 50 3% Nil 2% Please refer to Fees and Charges on page 11 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET The Fund will pay the following fees and charges to the Manager and Trustee: Management Fee Trustee s Fee Current Maximum Currently up to Minimum Maximum 1.5% p.a. 3% p.a. 0.05% p.a. SGD 7, % p.a. In addition to the management fee, the Manager is entitled to a performance fee equivalent to 15% of the excess in the swaps performance over the high water mark. Please refer to Part 3 under Schedule 2 of the Prospectus for further details on the performance fee 7

10 Prepared on 29/04/11 VALUATIONS AND EXITING FROM THIS INVESTMENT HOW OFTEN ARE VALUATIONS AVAILABLE? The indicative issue price and realisation price of the Fund will be published in The Business Times, Lianhe Zaobao, Reuters, Bloomberg, The Straits Times and such other publications as the Managers may decide, and may also be obtained from the Manager s website at AllianzGlobalInvestors.com.sg or any other website designated by the Manager. The actual issue price and realisation price quoted will generally be published 2 Business Days after the relevant Dealing Day. HOW CAN YOU EXIT FROM THIS INVESTMENT AND WHAT ARE THE RISKS AND COSTS IN DOING SO? You can exit the Fund at any time by writing to the Manager, either directly or through an approved distributor from whom you purchased the Fund. If you do so within the cancellation period of 7 calendar days from time of purchase, you may do so without incurring the sales charge and fees stated above. However, you will have to take the risk for any price changes in the NAV of the Fund since you purchased it. You will receive the sale proceeds within six Business Days from the time the Manager receives your request to exit from the Fund. Your exit price is determined as follows: o If you submit the redemption order before 5pm on a Business Day, you will be paid a price based on the NAV of the Fund at the close of that Business Day. o If you submit the redemption order after 5pm, you will be paid a price based on the NAV at the close of the next Business Day. The following is an illustration of the realisation proceeds that an investor will receive based on a realisation of 1,000 Units in a Class and a notional realisation price of $1.10 (the actual realisation price of the Units will fluctuate according to the NAV of the relevant Fund): 1,000 x $1.10 = $1,100 - $0.00 = $1,100 Your holding of 1,000 Units HOW DO YOU CONTACT US? Notional Realisation price Gross realisation proceeds 0% Realisation Charge CONTACT INFORMATION Net realisation proceeds Please refer to the Obtaining Prices of Units on page 20, Subscription and Issue of Units on page 14 and Realisation of Units on page 17 of the Prospectus respectively for further information. PRODUCT HIGHLIGHTS SHEET All enquiries about the Fund should be directed to the Managers at: Telephone No. : Marketing.SG@AllianzGI-ap.com Website : APPENDIX: GLOSSARY OF TERMS Business Day refers to any day other than Saturday, Sunday or a gazetted public holiday on which commercial banks in Singapore are open for business, or any other day as the Manager and the Trustee may agree in writing; CPFIS refers to the Central Provident Fund Investment Scheme or such other scheme as will replace or supersede the CPFIS; Dealing Day refers to every Tuesday or, if such day is not a Business Day, the following day which is a Business Day, or such other day as the Manager may determine from time to time with the approval of the Trustee; NAV refers to the net asset value of the Fund, as the context may require, as defined in the Code on Collective Investment Schemes. 8

11 Prepared on 29/04/11 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Prospectus 1. It is important to read the Prospectus before deciding whether to purchase units in the product. If you do not have a copy, please contact us to ask for one. You should not invest in the product if you do not understand it or are not comfortable with the accompanying risks. If you wish to purchase the product, you will need to make an application in the manner set out in the Prospectus. AllianzGI Enhanced Income & Growth Fund (the Fund ) Product Type Unit Trust Launch Date 21 Jan 2008 Manager Allianz Global Investors Custodian HSBC Securities Services Singapore Limited Trustee HSBC Institutional Trust Services (Singapore Limited) Dealing Frequency Every Business Day Capital Guaranteed No Expense Ratio as of 31 December 2009 Name of Guarantor None WHO IS THE PRODUCT SUITABLE FOR? PRODUCT SUITABILITY 1.65% The Fund is only suitable for investors who: o seek exposure to bonds (either as diversification to their investment portfolio or standalone investment) via a fund of funds approach; o also seek the potential for regular distributions; o understand and are comfortable with the strategy, and the benefits and risks, of call options; o also understand and are comfortable with the volatility and risks associated with bond funds. WHAT ARE YOU INVESTING IN? KEY PRODUCT FEATURES You are investing in a unit trust constituted in Singapore that aims to maximize total returns over the medium to long term by investing primarily into a diversified portfolio of fixed income securities; You may receive regular distributions on a monthly basis. The Manager will decide whether or not to make such distributions (including the amount and source of such distributions) and may consider factors such as market conditions, etc. Therefore, neither the distributions nor the capital of the Fund are guaranteed. Please refer to Schedule 3 on page 45 of the Prospectus for further information. Please refer to Schedule 3 on page 45 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET 1 The Prospectus is available for collection at the Manager s registered office or any of its appointed distributors or accessible at 9

12 Prepared on 29/04/11 Investment Strategy The Manager invests all or substantially all of the assets of the Fund into shares of Total Return Bond Fund and Emerging Markets Bond Fund (collectively, the Underlying Funds ), sub-funds under PIMCO Funds: Global Investors Series plc; The Manager intends that the asset allocation between the two Underlying Funds be approximately two-thirds in Total Return Bond Fund and one-third in Emerging Markets Bond Fund although such allocation may be varied by the Manager from time to time; With respect to the Underlying Funds: o the Total Return Bond Fund aims to invest at least two-thirds of its assets in a diversified portfolio of fixed income instruments of varying maturities; o the Emerging Markets Bond Fund aims to invest at least 80% of its assets in fixed income instruments of issuers that economically are tied to countries with an emerging securities market. The Manager may also invest up to 10% of the Fund in other Allianz Global Investors group bond funds and call options (or other derivatives) linked to these bond funds and/or the Underlying Funds. WHO ARE YOU INVESTING WITH? Parties Involved The Fund is a sub-fund constituted under Allianz Global Investors Premier Funds, an umbrella fund; The Manager of the Fund is Allianz Global Investors Singapore Limited; The Underlying Funds are sub-funds constituted under the PIMCO Funds: Global Investors Series plc, an open-ended investment company authorized in Ireland as a UCITS scheme; PIMCO Global Advisors (Ireland) Limited is the manager of PIMCO Funds: Global Investors Series plc; The Underlying Funds are managed by Pacific Investment Management Company LLC; The Trustee is HSBC Institutional Trust Services (Singapore) Limited. WHAT ARE THE KEY RISKS OF THIS INVESTMENT? KEY RISKS The value of your investment may rise or fall, and the amount and frequency of distributions are at the sole discretion of the Manager and are not guaranteed. You are exposed to interest rate and credit risk o Your investment will be subject to the usual risks of investing in bonds and other fixed income securities which are subject to interest rate fluctuations and credit risks, such as risk of default by issuers. o Your investment will also be subject to adverse changes in the financial condition of the issuer, or a rise in interest rates; o As interest rates rise, the value of fixed income securities is likely to decrease. In particular, longer dated securities tend to be more sensitive to changes in interest rates, usually making them more volatile than shorter dated securities. Please refer to Schedule 3 on page 45 of the Prospectus for further information. Please refer to Management on page 2 of the Prospectus for further information. Please refer to Risks on page 13 and Schedule 3 on page 45 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET 10

13 Prepared on 29/04/11 Market and Credit Risks You are expose to the risks of investing in high-yield investments o High-yield investments means interest-bearing investments that are either rated non-investment grade by a recognised rating agency or are not rated at all, but that would presumably receive a rating of non-investment grade if they were rated. Such investments are normally associated with increased creditworthiness risk, risk of interest rate changes, general market risk, company-specific risk and liquidity risk. Liquidity Risks The Fund is not listed and you can redeem only on Dealing Days. o There is no secondary market for the Fund. All redemption requests should be made to the Manager or the approved distributors from whom you purchased the Fund. Product-Specific Risks You are exposed to derivatives risks. o The Manager will employ options (which is a derivative) and may use other derivative instruments from time to time in managing the investments of the Fund. o The usage of derivatives may negatively impact the value of the Fund and the Fund may suffer greater losses than if the Fund had not used derivatives. You may be exposed to counterparty risk o The Fund may enter into transactions on over-the-counter markets, which will expose the Fund to the credit of its counterparty and its ability to satisfy the terms of such contracts. You are expose to political risk o Your investments in the Fund may be adversely affected by political instability as well as exchange controls, changes in taxation, foreign investment policies, restrictions on repatriation of investments and other restrictions and controls which may be imposed by the relevant authorities in the relevant countries. FEES AND CHARGES WHAT ARE THE FEES AND CHARGES OF THIS INVESTMENT? You will need to pay the following fees and charges as a percentage of the gross investment sum: Initial Sales Charge Switching fee Realisation Charge Current Maximum Current Minimum Maximum Current Maximum Up to 4% 5% 1% SGD 50 3% Nil 2% Please refer to Fees and Charges on page 11 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET The Fund will pay the following fees and charges to the Manager and Trustee: Management Fee Trustee s Fee Current Maximum Currently up to Minimum Maximum 1.25% p.a. 3% p.a. 0.05% p.a. SGD 7, % p.a. 11

14 Prepared on 29/04/11 VALUATIONS AND EXITING FROM THIS INVESTMENT HOW OFTEN ARE VALUATIONS AVAILABLE? The indicative issue price and realisation price of the Fund will be published in The Business Times, Lianhe Zaobao, Reuters, Bloomberg, The Straits Times and such other publications as the Managers may decide, and may also be obtained from the Manager s website at or any other website designated by the Manager. The actual issue price and realisation price quoted will generally be published 2 Business Days after the relevant Dealing Day. HOW CAN YOU EXIT FROM THIS INVESTMENT AND WHAT ARE THE RISKS AND COSTS IN DOING SO? You can exit the Fund at any time by writing to the Manager, either directly or through an approved distributor from whom you purchased the Fund. If you do so within the cancellation period of 7 calendar days from time of purchase, you may do so without incurring the sales charge and fees stated above. However, you will have to take the risk for any price changes in the NAV of the Fund since you purchased it. You will receive the sale proceeds within six Business Days from the time the Manager receives your request to exit from the Fund. Your exit price is determined as follows: o If you submit the redemption order before 5pm on a Business Day, you will be paid a price based on the NAV of the Fund at the close of that Business Day. o If you submit the redemption order after 5pm, you will be paid a price based on the NAV at the close of the next Business Day. The following is an illustration of the realisation proceeds that an investor will receive based on a realisation of 1,000 Units in a Class and a notional realisation price of $1.10 (the actual realisation price of the Units will fluctuate according to the NAV of the relevant Fund): 1,000 x $1.10 = $1,100 - $0.00 = $1,100 Your holding of 1,000 Units Notional Realisation price Gross realisation proceeds 0% Realisation Charge CONTACT INFORMATION HOW DO YOU CONTACT US? All enquiries about the Fund should be directed to the Manager at: Net realisation proceeds Please refer to the Obtaining Prices of Units on page 20, Subscription and Issue of Units on page 14 and Realisation of Units on page 17 of the Prospectus respectively for further information. PRODUCT HIGHLIGHTS SHEET Telephone No. : Marketing.SG@AllianzGI-ap.com Website : APPENDIX: GLOSSARY OF TERMS Business Day refers to any day other than Saturday, Sunday or a gazetted public holiday on which commercial banks in Singapore are open for business, or any other day as the Manager and the Trustee may agree in writing; CPFIS refers to the Central Provident Fund Investment Scheme or such other scheme as will replace or supersede the CPFIS; Dealing Day refers to every Business Day or such other day as the Manager may determine from time to time with the approval of the Trustee; NAV refers to the net asset value of the Fund, as the context may require, as defined in the Code on Collective Investment Schemes 12

15 Prepared on 29/04/11 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Prospectus 1. It is important to read the Prospectus before deciding whether to purchase units in the product. If you do not have a copy, please contact us to ask for one. You should not invest in the product if you do not understand it or are not comfortable with the accompanying risks. If you wish to purchase the product, you will need to make an application in the manner set out in the Prospectus. AllianzGI US High Yield Fund (the Fund ) Product Type Unit Trust Launch Date 2 August 2010 Manager Allianz Global Investors Custodian HSBC Securities Services Singapore Limited Trustee HSBC Institutional Trust Services (Singapore Limited) Dealing Frequency Every Business Day Capital Guaranteed No Expense Ratio Not yet available Name of Guarantor None WHO IS THE PRODUCT SUITABLE FOR? PRODUCT SUITABILITY The Fund is only suitable for investors who: o seek income above market interest rates with asset growth primarily as a result of market opportunities; o understand and are comfortable with the volatility and risks associated with bond funds and foreign exchange. WHAT ARE YOU INVESTING IN? KEY PRODUCT FEATURES You are investing in a unit trust constituted in Singapore that aims to provide you with long term capital appreciation and income by investing primarily in U.S. corporate bonds rated below investment grade; You may receive regular distributions on a monthly basis. The Manager will decide whether or not to make such distributions (including the amount and source of such distributions) and may consider factors such as market conditions, etc. Therefore, neither the distributions nor the capital of the Fund are guaranteed. Please refer to Schedule 4 on page 53 of the Prospectus for further information. Please refer to Schedule 4 on page 53 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET Investment Strategy The Manager invests all or substantially all of the assets of the Fund into shares of Allianz US High Yield (the Underlying Fund ), a sub-fund under AGIF (defined below); The Underlying Fund invests according to the principle of risk diversification. Eligible assets will be selected following a thorough analysis of the information available to the investment manager and subject to a careful evaluation of the risks and opportunities; The Manager also intends to enter into transactions to hedge the deposited property of the Fund (denominated in Singapore dollars) against currency fluctuations of the US dollar. Please refer to Schedule 4 on page 53 of the Prospectus for further information. 1 The Prospectus is available for collection at the Manager s registered office or any of its appointed distributors or accessible at 13

16 Prepared on 29/04/11 Parties Involved WHO ARE YOU INVESTING WITH? The Fund is a sub-fund constituted under Allianz Global Investors Premier Funds, an umbrella fund; The Manager of the Fund is Allianz Global Investors Singapore Limited; The Underlying Fund is a sub-fund constituted under Allianz Global Investors Fund ( AGIF ), an open-ended investment company incorporated in Luxembourg as a société d investissement à capital variable, under the laws of Luxembourg and qualified under UCITS; Allianz Global Investors Luxembourg S.A. is the management company of AGIF; The Underlying Fund is managed by Allianz Global Investors Capital LLC, a company part of Allianz Global Investors; The Trustee is HSBC Institutional Trust Services (Singapore) Limited. Please refer to Management on page 2 of the Prospectus for further information. WHAT ARE THE KEY RISKS OF THIS INVESTMENT? KEY RISKS The value of your investment may rise or fall, and the amount and frequency of distributions are at the sole discretion of the Manager and are not guaranteed. Market and Credit Risks You are exposed to the market risks in the global market place. o Your investments may go up or down due to changing economic, political or market conditions that impact the share price of the companies that the Fund invests in. During extreme market conditions, you may face minimal or no returns or suffer significant loss. You are exposed to company-specific risk. o The price development of the securities held by the Fund is also dependent on company specific factors, e.g. the issuer s business situation. If the companyspecific factors deteriorate, the price of the specific security may drop significantly and enduringly, possibly even without regard to an otherwise generally positive stock market trend. You are exposed to interest rate and credit risk o Your investment will be subject to the usual risks of investing in bonds and other fixed income securities which are subject to interest rate fluctuations and credit risks, such as risk of default by issuers. o Your investment will also be subject to adverse changes in the financial condition of the issuer, or a rise in interest rates, which may impair the ability of the issuer to make payments of interest and principal, especially if the issuer is highly leveraged; o As interest rates rise, the value of fixed income securities is likely to decrease. In particular, longer dated securities tend to be more sensitive to changes in interest rates, usually making them more volatile than shorter dated securities. Please refer to Risks on page 13 and Schedule 4 on page 53 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET Liquidity Risks The Fund is not listed and you can redeem only on Dealing Days. o There is no secondary market for the Fund. All redemption requests should be made to the Manager or the approved distributors from whom you purchased the Fund. 14

17 Prepared on 29/04/11 Product-Specific Risks You are exposed to derivatives risks. o The Manager may invest in derivatives, including structured products, credit default swaps, futures, warrants, forwards, swaps or swap options. o The usage of derivatives may negatively impact the value of the Fund and the Fund may suffer greater losses than if the Fund had not used derivatives. You may be exposed to counterparty risk o The Fund may enter into transactions on over-the-counter markets, which will expose the Fund to the credit of its counterparty and its ability to satisfy the terms of such contracts. In the event of a bankruptcy or insolvency of a counterparty, the Fund could experience delays in liquidating the position and significant losses, including declines in the value of its investment during the period in which the Fund seeks to enforce its rights, inability to realise any gains on its investment and fees and expenses incurred in enforcing its rights. You may lose potential positive returns on underlying assets o While the use of derivatives to hedge the Fund s assets may reduce the economic risk inherent in an asset of the Fund, there is a possible risk that the Fund may no longer participate in a positive development of such underlying asset. You are expose to the risks of Investing in high-yield investments o High-Yield Investments means interest-bearing investments that are either rated non-investment grade by a recognised rating agency or are not rated at all, but that would presumably receive a rating of non-investment grade if they were rated. Such investments are normally associated with increased creditworthiness risk, risk of interest rate changes, general market risk, company-specific risk and liquidity risk. FEES AND CHARGES WHAT ARE THE FEES AND CHARGES OF THIS INVESTMENT? You will need to pay the following fees and charges as a percentage of their gross investment sum: Initial Sales Charge Switching fee Realisation Charge Current Maximum Current Minimum Maximum Current Maximum Up to 5% 5% 1% SGD 50 3% Nil 2% Please refer to Fees and Charges on page 11 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET The Fund will pay the following fees and charges to the Manager and Trustee: Management Fee Trustee s Fee Current Maximum Currently up to Minimum Maximum 1.25% p.a. 3% p.a. 0.05% p.a. SGD 10, % p.a. 15

18 Prepared on 29/04/11 VALUATIONS AND EXITING FROM THIS INVESTMENT HOW OFTEN ARE VALUATIONS AVAILABLE? The indicative issue price and realisation price of the Fund will be published in The Business Times, Lianhe Zaobao, Reuters, Bloomberg, The Straits Times and such other publications as the Managers may decide, and may also be obtained from the Manager s website at or any other website designated by the Manager. The actual issue price and realisation price quoted will generally be published 2 Business Days after the relevant Dealing Day. HOW CAN YOU EXIT FROM THIS INVESTMENT AND WHAT ARE THE RISKS AND COSTS IN DOING SO? You can exit the Fund at any time by writing to the Manager, either directly or through an approved distributor from whom you purchased the Fund. If you do so within the cancellation period of 7 calendar days from time of purchase, you may do so without incurring the sales charge and fees stated above. However, you will have to take the risk for any price changes in the NAV of the Fund since you purchased it. You will receive the sale proceeds within six Business Days from the time the Manager receives your request to exit from the Fund. Your exit price is determined as follows: o If you submit the redemption order before 5pm on a Business Day, you will be paid a price based on the NAV of the Fund at the close of that Business Day. o If you submit the redemption order after 5pm, you will be paid a price based on the NAV at the close of the next Business Day. The following is an illustration of the realisation proceeds that an investor will receive based on a realisation of 1,000 Units in a Class and a notional realisation price of $1.10 (the actual realisation price of the Units will fluctuate according to the NAV of the relevant Fund): 1,000 x $1.10 = $1,100 - $0.00 = $1,100 Your holding of 1,000 Units Notional Realisation price Gross realisation proceeds 0% Realisation Charge CONTACT INFORMATION HOW DO YOU CONTACT US? All enquiries about the Fund should be directed to the Managers at: Net realisation proceeds Please refer to the Obtaining Prices of Units on page 20, Subscription and Issue of Units on page 14 and Realisation of Units on page 17 of the Prospectus respectively for further information. PRODUCT HIGHLIGHTS SHEET Telephone No. : Marketing.SG@AllianzGI-ap.com Website : APPENDIX: GLOSSARY OF TERMS Business Day refers to any day other than Saturday, Sunday or a gazetted public holiday on which commercial banks in Singapore are open for business, or any other day as the Manager and the Trustee may agree in writing; CPFIS refers to the Central Provident Fund Investment Scheme or such other scheme as will replace or supersede the CPFIS; Dealing Day refers to every Business Day or such other day as the Manager may determine from time to time with the approval of the Trustee; NAV refers to the net asset value of the Fund, as the context may require, as defined in the Code on Collective Investment Schemes 16

19 Prepared on 29/04/11 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Prospectus 1. It is important to read the Prospectus before deciding whether to purchase units in the product. If you do not have a copy, please contact us to ask for one. You should not invest in the product if you do not understand it or are not comfortable with the accompanying risks. If you wish to purchase the product, you will need to make an application in the manner set out in the Prospectus. RCM Global High Payout Fund (the Fund ) Product Type Unit Trust Launch Date 21 February 2006 Manager Allianz Global Investors Custodian HSBC Securities Services Singapore Limited Trustee HSBC Institutional Trust Services (Singapore Limited) Dealing Frequency Every Business Day Capital Guaranteed No Expense Ratio as of 31 December 2009 Name of Guarantor None CPFIS inclusion (and classification) WHO IS THE PRODUCT SUITABLE FOR? PRODUCT SUITABILITY The Fund is only suitable for investors who: o seek potential equities upside opportunities, their primary goal is income; o also seek more regular and consistent distributions; o understand and are comfortable with the strategy and the benefits and risks of selling covered call options; and o also understand and are comfortable with the volatility and risks associated with equity funds. WHAT ARE YOU INVESTING IN? KEY PRODUCT FEATURES You are investing in a unit trust constituted in Singapore that aims to provide you with consistent semi-annual distributions and lower portfolio risks mainly by (i) investing in a diversified portfolio of global equities that provide higher dividend yields, and (ii) selling call options to generate additional income; You may receive regular distributions on a semi-annual basis. The Manager will decide whether or not to make such distributions (including the amount and source of such distributions) and may consider factors such as market conditions, etc. Distributions from, and capital of, the Fund are therefore not guaranteed. 1.95% for both USD and SGD share classes Yes (Higher risk Broadly diversified) Please refer to Schedule 5 on page 64 of the Prospectus for further information. Please refer to Schedule 5 on page 64 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET 1 The Prospectus is available for collection at the Manager s registered office or any of its appointed distributors or accessible at 17

20 Prepared on 29/04/11 Investment Strategy The Fund employs a distinctive two-part investment process: o It will invest in a diversified portfolio of global equities and employ a proprietary rule-based equity selection model together with fundamental company analysis to identify attractive international investment opportunities. It will also focus on equities that pay high dividend yields to generate income from such dividends. Equity exposure may also be constructed by the use of derivative strategies (e.g. long futures, long call options); and o It will employ an integrated strategy of selling covered call options on equities, baskets of equities or equity indices. The option premiums received represent additional earnings, helping to enhance the dividends payable to investors and reduce overall portfolio risk. However, any appreciation in equities may be capped as a result of such options strategy. Please refer to Schedule 5 on page 64 of the Prospectus for further information BUY High Dividend Stocks Objective : Receive steady flow of income for the fund Stock Appreciation WHO ARE YOU INVESTING WITH? + Stock Dividends + SELL Covered Call Option Objective : Receive steady flow of option premium income + Option Premium Parties Involved = Total Return of the Fund The Fund is a sub-fund constituted under Allianz Global Investors Premier Funds, an umbrella fund; The Manager is Allianz Global Investors Singapore Limited; The Manager has delegated the management of the assets of the Fund to Allianz Global Investors Kapitalanlagegesellschaft mbh; The Trustee is HSBC Institutional Trust Services (Singapore) Limited. Please refer to Management on page 2 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET WHAT ARE THE KEY RISKS OF THIS INVESTMENT? KEY RISKS The value of your investment may rise or fall, and the amount and frequency of distributions are at the sole discretion of the Manager and are not guaranteed. Please refer to Risks on page 13 and Schedule 5 on page 64 of the Prospectus for further information. 18

21 Prepared on 29/04/11 Market and Credit Risks You are exposed to the market risks in the global market place. o Your investments may go up or down due to changing economic, political or market conditions that impact the share price of the companies that the Fund invests in. You have greater exposure to market risks as this is an equity fund. o Historically, equities have greater volatility than bonds and other fixed income securities. The Fund s valuation and the price at which you can exit may correspondingly fluctuate more strongly on a day-to-day basis compared to funds investing in bonds and other fixed income securities. You are exposed to company-specific risk. o The price development of the equities securities held by the Fund is also dependent on company specific factors, i.e. the issuer s business situation. If the company-specific factors deteriorate, the price of the specific security may drop significantly and enduringly, possibly even without regard to an otherwise generally positive stock market trend. You are exposed to foreign exchange risk. o The Fund may hold assets denominated in foreign currencies. Fluctuations in the exchange rates between the based currency of the Fund and the foreign currencies may have an impact on the income and value of the Fund. The Manager may use currency forwards, futures, options and swap agreements to reduce the currency deviations of the portfolio of the Fund. Liquidity Risks The Fund is not listed and you can redeem only on Dealing Days. o There is no secondary market for the Fund. All redemption requests should be made to the Manager or the approved distributors from whom you purchased the Fund. Product-Specific Risks You are exposed to derivatives risks. o The Manager will employ options (which is a derivative) and may use other derivative instruments, including futures, warrants, forwards, swaps or swap options, from time to time in managing the investments of the Fund. o The usage of derivatives may negatively impact the value of the Fund and the Fund may suffer greater losses than if the Fund had not used derivatives. o Derivatives may not always correlate or track the value of the securities, rates or indices they are designed to track. Consequently, a Fund s use of derivative techniques may not always be an effective means of, and sometimes could be counterproductive to, following the Sub-Fund s investment objective. You may be exposed to counterparty risk o A Fund may enter into transactions on over-the-counter markets, which will expose the Fund to the credit of its counterparty and its ability to satisfy the terms of such contracts. In the event of a bankruptcy or insolvency of a counterparty, the Fund could experience delays in liquidating the position and significant losses, including declines in the value of its investment during the period in which the Fund seeks to enforce its rights, inability to realise any gains on its investment and fees and expenses incurred in enforcing its rights. You may lose potential positive returns on underlying assets o While the sale of covered call options may generate additional income or the use of derivatives to hedge a Fund s assets may reduce the economic risk inherent in an asset of the Fund, there is a possible risk that the Fund may no longer participate in a positive development of such underlying asset. Please refer to Risks on page 13 and Schedule 5 on page 64 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET 19

22 Prepared on 29/04/11 FEES AND CHARGES WHAT ARE THE FEES AND CHARGES OF THIS INVESTMENT? You will need to pay the following fees and charges as a percentage of their gross investment sum: Initial Sales Charge Switching fee Realisation Charge Current Maximum Current Minimum Maximum Current Maximum Up to 5% 5% 1% SGD 50 3% Nil 2% Please refer to Fees and Charges on page 11 of the Prospectus for further information. The Fund will pay the following fees and charges to the Manager and Trustee: Management Fee Trustee s Fee Current Maximum Currently up to Minimum Maximum 1.65% p.a. 3% p.a % p.a. SGD 7, % p.a. HOW OFTEN ARE VALUATIONS AVAILABLE? VALUATIONS AND EXITING FROM THIS INVESTMENT The indicative issue price and realisation price of the Fund will be published in The Business Times, Lianhe Zaobao, Reuters, Bloomberg, The Straits Times and such other publications as the Managers may decide, and may also be obtained from the Manager s website at or any other website designated by the Manager. The actual issue price and realisation price quoted will generally be published 2 Business Days after the relevant Dealing Day. HOW CAN YOU EXIT FROM THIS INVESTMENT AND WHAT ARE THE RISKS AND COSTS IN DOING SO? You can exit the Fund at any time by writing to the Manager, either directly or through an approved distributor from whom you purchased the Fund. If you do so within the cancellation period of 7 calendar days from time of purchase, you may do so without incurring the sales charge and fees stated above. However, you will have to take the risk for any price changes in the NAV of the Fund since you purchased it. You will receive the sale proceeds within six Business Days from the time the Manager receives your request to exit from the Fund. Your exit price is determined as follows: o If you submit the redemption order before 5pm on a Business Day, you will be paid a price based on the NAV of the Fund at the close of that Business Day. o If you submit the redemption order after 5pm, you will be paid a price based on the NAV at the close of the next Business Day. The following is an illustration of the realisation proceeds that an investor will receive based on a realisation of 1,000 Units in a Class and a notional realisation price of $1.10 (the actual realisation price of the Units will fluctuate according to the NAV of the relevant Fund): Please refer to the Obtaining Prices of Units on page 20, Subscription and Issue of Units on page 14 and Realisation of Units on page 17 of the Prospectus respectively for further information. PRODUCT HIGHLIGHTS SHEET 1,000 x $1.10 = $1,100 - $0.00 = $1,100 Your holding of 1,000 Units Notional Realisation price Gross realisation proceeds 0% Realisation Charge Net realisation proceeds 20

23 Prepared on 29/04/11 CONTACT INFORMATION HOW DO YOU CONTACT US? All enquiries about the Fund should be directed to the Managers at: Telephone No. : Marketing.SG@AllianzGI-ap.com Website : APPENDIX: GLOSSARY OF TERMS Business Day refers to any day other than Saturday, Sunday or a gazetted public holiday on which commercial banks in Singapore are open for business, or any other day as the Manager and the Trustee may agree in writing; CPFIS refers to the Central Provident Fund Investment Scheme or such other scheme as will replace or supersede the CPFIS; Dealing Day refers to every Business Day or such other day as the Manager may determine from time to time with the approval of the Trustee; NAV refers to the net asset value of the Fund, as the context may require, as defined in the Code on Collective Investment Schemes PRODUCT HIGHLIGHTS SHEET 21

24 Prepared on 29/04/11 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Prospectus 1. It is important to read the Prospectus before deciding whether to purchase units in the product. If you do not have a copy, please contact us to ask for one. You should not invest in the product if you do not understand it or are not comfortable with the accompanying risks. If you wish to purchase the product, you will need to make an application in the manner set out in the Prospectus. RCM Global Twin-Focus Fund (the Fund ) Product Type Unit Trust Launch Date 3 July 2006 Manager Allianz Global Investors Custodian HSBC Securities Services Singapore Limited Trustee HSBC Institutional Trust Services (Singapore Limited) Dealing Frequency Every Business Day Capital Guaranteed No Expense Ratio as of 31 December 2009 Name of Guarantor None WHO IS THE PRODUCT SUITABLE FOR? PRODUCT SUITABILITY The Fund is only suitable for investors who: o seek more regular and consistent distributions; o also seek participation in global equities but are willing to give up some equity market upside in return for some downside mitigation; o understands and are comfortable with the strategy, and the benefits and risks, of selling covered call options and purchasing put options. WHAT ARE YOU INVESTING IN? KEY PRODUCT FEATURES You are investing in a unit trust constituted in Singapore that aims to provide you with total returns and consistent semi-annual distributions mainly by (i) investing in global stocks with above-average dividend yield, (ii) selling call options to generate additional income, and (iii) buying put options to mitigate downside risk; You may receive regular distributions on a semi-annual basis. The Manager will decide whether or not to make such distributions (including the amount and source of such distributions) and may consider factors such as market conditions, etc. Therefore, neither the distributions nor the capital of the Fund are guaranteed. 2.17% for both USD and SGD share classes Please refer to Schedule 6 on page 67 of the Prospectus for further information. Please refer to Schedule 6 on page 67 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET 1 The Prospectus is available for collection at the Manager s registered office or any of its appointed distributors or accessible at 22

25 Prepared on 29/04/11 Investment Strategy The Fund employs a distinctive three-part investment process: o It will invest in a portfolio of high quality stocks issued by large global companies. In the stock selection process, the fund manager identifies stocks based on various valuation factors, e.g., their market capitalisation, assets, book value, sales/revenue and/or net profits. After determining the initial list of eligible stocks, the fund manager uses proprietary research and analysis methods to construct the portfolio, factoring in risk, return and other qualitative considerations. Equity exposure may also be constructed by the use of derivative strategies (e.g. long futures, long call options); Please refer to Schedule 6 on page 67 of the Prospectus for further information. o It will employ an integrated strategy of: (i) selling covered call options with the aim to generate income from option premiums; (ii) purchasing put options with the aim to protect the Fund against significant market declines on its equity portfolio. WHO ARE YOU INVESTING WITH? Parties Involved The Fund is a sub-fund constituted under Allianz Global Investors Premier Funds, an umbrella fund; The Manager is Allianz Global Investors Singapore Limited; The Manager has delegated the management of the assets of the Fund to Allianz Global Investors Kapitalanlagegesellschaft mbh; The Trustee is HSBC Institutional Trust Services (Singapore) Limited. WHAT ARE THE KEY RISKS OF THIS INVESTMENT? KEY RISKS The value of your investment may rise or fall, and the amount and frequency of distributions are at the sole discretion of the Manager and are not guaranteed. Please refer to Management on page 2 of the Prospectus for further information. Please refer to Risks on page 13 and Schedule 6 on page 67 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET Market and Credit Risks You are exposed to the market risks in the global market place. o Your investments may go up or down due to changing economic, political or market conditions that impact the share price of the companies that the Fund invests in. You are exposed to company-specific risk. o The price development of the equities securities held by the Fund is also dependent on company specific factors, i.e. the issuer s business situation. If the company-specific factors deteriorate, the price of the specific security may drop significantly and enduringly, possibly even without regard to an otherwise generally positive stock market trend. You are exposed to foreign exchange risk. o The Fund may hold assets denominated in foreign currencies. Fluctuations in the exchange rates between the based currency of the Fund and the foreign currencies may have an impact on the income and value of the Fund. The Manager may use currency forwards, futures, options and swap agreements to reduce the currency deviations of the portfolio of the Fund. 23

26 Prepared on 29/04/11 Liquidity Risks The Fund is not listed and you can redeem only on Dealing Days. There is no secondary market for the Fund. All redemption requests should be made to the Manager or the approved distributors from whom you purchased the Fund. Product-Specific Risks You are exposed to derivatives risks. o The Manager will sell call options and buy put options (which are derivatives) and may use other derivative instruments, including futures, warrants, forwards, swaps or swap options, from time to time in managing the investments of the Fund. o The usage of derivatives may negatively impact the value of the Fund and the Fund may suffer greater losses than if the Fund had not used derivatives. o Derivatives may not always correlate or track the value of the securities, rates or indices they are designed to track. Consequently, a Fund s use of derivative techniques may not always be an effective means of, and sometimes could be counterproductive to, following the Sub-Fund s investment objective. You may be exposed to counterparty risk o A Fund may enter into transactions on over-the-counter markets, which will expose the Fund to the credit of its counterparty and its ability to satisfy the terms of such contracts. In the event of a bankruptcy or insolvency of a counterparty, the Fund could experience delays in liquidating the position and significant losses, including declines in the value of its investment during the period in which the Fund seeks to enforce its rights, inability to realise any gains on its investment and fees and expenses incurred in enforcing its rights. You may lose potential positive returns on underlying assets o While the sale of covered call options may generate additional income or the use of derivatives to hedge a Fund s assets may reduce the economic risk inherent in an asset of the Fund, there is a possible risk that the Fund may no longer participate in a positive development of such underlying asset. FEES AND CHARGES WHAT ARE THE FEES AND CHARGES OF THIS INVESTMENT? You will need to pay the following fees and charges as a percentage of the gross investment sum: Initial Sales Charge Switching fee Realisation Charge Current Maximum Current Minimum Maximum Current Maximum Up to 5% 5% 1% SGD 50 3% Nil 2% Please refer to Fees and Charges on page 11 of the Prospectus for further information. PRODUCT HIGHLIGHTS SHEET The Fund will pay the following fees and charges to the Manager and Trustee: Management Fee Trustee s Fee Current Maximum Currently up to Minimum Maximum 1.65% p.a. 3% p.a. 0.05% p.a. SGD 7, % p.a. 24

27 Prepared on 29/04/11 VALUATIONS AND EXITING FROM THIS INVESTMENT HOW OFTEN ARE VALUATIONS AVAILABLE? The indicative issue price and realisation price of the Fund will be published in The Business Times, Lianhe Zaobao, Reuters, Bloomberg, The Straits Times and such other publications as the Managers may decide, and may also be obtained from the Manager s website at or any other website designated by the Manager. The actual issue price and realisation price quoted will generally be published 2 Business Days after the relevant Dealing Day. HOW CAN YOU EXIT FROM THIS INVESTMENT AND WHAT ARE THE RISKS AND COSTS IN DOING SO? You can exit the Fund at any time by writing to the Manager, either directly or through an approved distributor from whom you purchased the Fund. If you do so within the cancellation period of 7 calendar days from time of purchase, you may do so without incurring the sales charge and fees stated above. However, you will have to take the risk for any price changes in the NAV of the Fund since you purchased it. You will receive the sale proceeds within six Business Days from the time the Manager receives your request to exit from the Fund. Your exit price is determined as follows: o If you submit the redemption order before 5pm on a Business Day, you will be paid a price based on the NAV of the Fund at the close of that Business Day. o If you submit the redemption order after 5pm, you will be paid a price based on the NAV at the close of the next Business Day. The following is an illustration of the realisation proceeds that an investor will receive based on a realisation of 1,000 Units in a Class and a notional realisation price of $1.10 (the actual realisation price of the Units will fluctuate according to the NAV of the relevant Fund): 1,000 x $1.10 = $1,100 - $0.00 = $1,100 Your holding of 1,000 Units Notional Realisation price Gross realisation proceeds 0% Realisation Charge CONTACT INFORMATION Net realisation proceeds Please refer to the Obtaining Prices of Units on page 20, Subscription and Issue of Units on page 14 and Realisation of Units on page 17 of the Prospectus respectively for further information. PRODUCT HIGHLIGHTS SHEET HOW DO YOU CONTACT US? All enquiries about the Fund should be directed to the Managers at: Telephone No. : Marketing.SG@AllianzGI-ap.com Website : 25

28 Prepared on 29/04/11 APPENDIX: GLOSSARY OF TERMS Business Day refers to any day other than Saturday, Sunday or a gazetted public holiday on which commercial banks in Singapore are open for business, or any other day as the Manager and the Trustee may agree in writing; CPFIS refers to the Central Provident Fund Investment Scheme or such other scheme as will replace or supersede the CPFIS; Dealing Day refers to every Tuesday or, if such day is not a Business Day, the following day which is a Business Day, or such other day as the Manager may determine from time to time with the approval of the Trustee; NAV refers to the net asset value of the Fund, as the context may require, as defined in the Code on Collective Investment Schemes. PRODUCT HIGHLIGHTS SHEET 26

29 Prospectus dated 29 April 2011 Allianz Global Investors Premier Funds AllianzGI Asia Balanced Fund AllianzGI Choice Equity Fund AllianzGI Enhanced Income & Growth Fund AllianzGI US High Yield Fund RCM Global High Payout Fund RCM Global Twin-Focus Fund Allianz Global Investors Singapore Limited