Allianz Global Investors Fund

Transcription

1 Singapore Product Highlights Sheet Allianz Global Investors Fund Société d Investissement à Capital Variable 28 February 2018

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3 Table Of Contents Page No. Allianz All China Equity 1 Allianz American Income 6 Allianz Asia Pacific Equity 11 Allianz Asian Multi Income Plus 16 Allianz Best Styles Emerging Markets Equity 21 Allianz Best Styles Euroland Equity 26 Allianz Best Styles Global Equity 30 Allianz China Equity 34 Allianz China Multi Income Plus 39 Allianz China Strategic Bond 45 Allianz Discovery Europe Opportunities 50 Allianz Dynamic Asian High Yield Bond 55 Allianz Dynamic Asian Investment Grade Bond 60 Allianz Emerging Asia Equity 64 Allianz Emerging Markets Select Bond 68 Allianz Emerging Markets Short Duration Defensive Bond 73 Allianz Enhanced Short Term Euro 77 Allianz Euro High Yield Bond 82 Allianz Euroland Equity Growth 87 Allianz Europe Conviction Equity 91 Allianz Europe Equity Growth 95 Allianz Europe Equity Growth Select 99 Allianz Europe Income and Growth 103 Allianz European Equity Dividend 108 Allianz Flexi Asia Bond 112 Allianz GEM Equity High Dividend 117 Allianz Global Agricultural Trends 121 Allianz Global Artificial Intelligence 125 Allianz Global Bond 129 Allianz Global Credit 134 Allianz Global Dividend 138 Allianz Global Equity 142 Allianz Global Equity Insights 146 Allianz Global Equity Unconstrained 151 Allianz Global Fundamental Strategy 155 Allianz Global High Yield 160 Allianz Global Hi-Tech Growth 164 Allianz Global Metals and Mining 168 Allianz Global Multi-Asset Credit 172 Allianz Global Small Cap Equity 177 Allianz Global Sustainability 181 Allianz High Dividend Asia Pacific Equity 185 Allianz Hong Kong Equity 189 Allianz Income and Growth 194 Allianz India Equity 199 Allianz Indonesia Equity 203 Allianz Japan Equity 207 Allianz Korea Equity 211 Allianz Little Dragons 215 Allianz Oriental Income 220 Allianz Renminbi Fixed Income 225 Allianz Selective Global High Yield 230 Allianz Short Duration Global Real Estate Bond 234 Allianz Target Maturity Bond - Asia 238 Allianz Thailand Equity 242 Allianz Tiger 246 Allianz Total Return Asian Equity 251 Allianz US Equity Dividend 256 Allianz US Equity Fund 260 Allianz US Equity Plus 264 Allianz US High Yield 268 Allianz US Short Duration High Income Bond 273 Allianz US Small Cap Equity 278

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5 Prepared on: 8/1/18 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 shares in the 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. ALLIANZ ALL CHINA EQUITY Product Type Management Company Collective Investment Scheme Allianz Global Investors GmbH Launch Date 5 December 2017 Depositary State Street Bank Luxembourg S.C.A. Trustee Not applicable Dealing Frequency Every Dealing Day which is a Singapore business day Capital Guaranteed No Expense Ratio for Not available Financial Year ended 30 September 2017 Name of Guarantor Not applicable PRODUCT SUITABILITY WHO IS THE PRODUCT SUITABLE FOR? The Fund is only suitable for investors who: o pursue the objective of general capital formation/asset optimisation and/or above-average participation in price changes; o have advanced knowledge and/or experience of financial products; and o are capable of bearing a financial loss. The Fund may not be suitable for investors who wish to withdrawal their capital from the Fund within a short timeframe. You should consult your financial adviser if in doubt whether this product is suitable for you. KEY PRODUCT FEATURES WHAT ARE YOU INVESTING IN? You are investing in a collective investment scheme constituted in Luxembourg that aims to provide long-term capital growth by investing in onshore and offshore PRC, Hong Kong and Macau equity markets. You may receive distributions if you are invested in a distributing share class*. The distribution date shall generally be on 15 December each year. Where the distributing share class contains additional letter(s) M / Mg, you may instead receive distributions on 15th of every month or if it contains additional letter(s) Q / Qg you may instead receive distributions quarterly on 15 March, 15 June, 15 September and 15 December. *Dividends may be paid out of capital or effectively out of capital and reduce the Fund s net asset value Investment Strategy A minimum of 70% of Fund assets are invested in onshore and offshore PRC, Hong Kong and Macau equity markets. Fund assets may be invested in Emerging Markets. A maximum of 100% of Fund assets may be invested into the China A-Shares market either directly through Stock Connect or indirectly through eligible instruments. Further Information Section 5.1 of the product suitability. Sections 1, 2, 5 and 17.1 of the features of the Section 5 of the the investment strategy of the 1 The Prospectus is available for collection during normal business hours from Allianz Global Investors Singapore Limited at 12 Marina View, #13-02 Asia Square Tower 2, Singapore or accessible at sg.allianzgi.com or from any of our appointed distributors. 1

6 A maximum of 69% of Fund assets may be invested via RQFII. The Fund may invest in financial derivative instruments for efficient portfolio management (including for hedging) but will not invest primarily or extensively in financial derivative instruments for investment purposes. Parties Involved WHO ARE YOU INVESTING WITH? The Fund is constituted as a sub-fund under the Allianz Global Investors Fund (the Company ). The Management Company is Allianz Global Investors GmbH. The Investment Manager is Allianz Global Investors Asia Pacific Limited. The Investment Advisor is Allianz Global Investors Singapore Limited. The Depositary is State Street Bank Luxembourg S.C.A.. KEY RISKS WHAT ARE THE KEY RISKS OF THIS INVESTMENT? The value of the product and its dividends and coupons (if any) may rise or fall. These risk factors may adversely impact the net asset value of the product and cause you to lose some or all of your investment: Market and Credit Risks You may be exposed to general market risk. o The Fund is exposed to various general trends and tendencies in the economic and political situation as well as securities markets and investment sentiment, which are partially attributable to irrational factors. Such factors could lead to substantial and longer-lasting drops in prices affecting the entire market. You may be exposed to currency risk. o The Fund may hold assets or have a share class denominated in foreign currencies other than the base currency of the Fund. Accordingly, the Fund is exposed to a currency risk that if these foreign currency positions have not been hedged or if there is any change in the relevant exchange control regulations, the net asset value of the Fund or Class may be affected unfavourably. Any devaluation of the foreign currency against the base currency of the Fund would cause the value of the assets denominated in the foreign currency to fall. You may be exposed to country and region risk in the PRC, Hong Kong and Macau. o The Fund s investments focus on the PRC, Hong Kong and Macau, which may increase the concentration risk. Consequently, the Fund is particularly susceptible to the adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event or development in and risks of this region, or of companies based and / or operating in this region. You may be exposed to emerging markets risk. o The Fund invests in emerging markets which are subject to greater liquidity risk, currency risk, general market risk, settlement risk and custodial risk. The legal, taxation and regulatory environment and the accounting, auditing and reporting standards may deviate substantially to the Fund s detriment from the levels and standards that are considered standard international practice. Liquidity Risks The Fund is not listed in Singapore and you can redeem only on Dealing Days. o There is no secondary market in Singapore for the Fund. All redemption requests may only be made in the manner described in the Prospectus. Your right to redemption may be deferred or suspended under certain circumstances highlighted in paragraphs 9.3 and 12 of the Prospectus. Sections 1, 3 and 4.4 of the the role and responsibilities of these entities. Section 7 of the risks of the 2

7 Product-Specific Risks You may be exposed to company-specific risk. o The value of the Fund s assets may drop significantly and for an extended period of time if company-specific factors (such as the issuer s business situation) deteriorates, even if the market trend is generally positive. You may be exposed to derivatives risk. o (i) The derivatives may be misvalued or may have varying valuations; (ii) the use of derivatives may not completely hedge the risk intended to be hedged; (iii) derivative may become difficult to sell. In such cases, the Fund may not be able to liquidate a position at an appropriate time or price; (iv) there is also a creditworthiness risk (i.e. that the counterparty may default or be unable to completely fulfill its obligations); (v) given the leverage effect embedded in derivatives, even a small investment in derivatives could have a substantial, even negative, effect on the performance of the Fund. You may be exposed to the risk relating to distribution out of capital. o If you invest in a share class which provides for distributions out of capital you should be aware that payment of such distributions may result in an immediate decrease in the net asset value per share and may reduce the capital available for future investment and capital growth. You may be exposed to the risk of investing in China A-Shares. o The Fund assets may be invested in China A-Shares. The securities market in the PRC, including China A-Shares, may be more volatile and unstable (for example, due to the risk of suspension/limitation in trading of a particular stock or government intervention) than markets in more developed countries and has potential settlement difficulties. This may result in significant fluctuations in the prices of securities traded in such market and thereby affecting the prices of shares of the Fund. You may be exposed to PRC tax risk. o It is possible that the current tax laws, regulations and practices in the PRC will change (which may have retrospective effect). Any increased tax liabilities on the Fund may adversely affect the Fund s value. o If no or inadequate provision for potential withholding tax is made and in the event that the PRC tax authorities enforce the imposition of such withholding tax, the net asset value of the Fund may be adversely affected. Depending on the timing of their subscriptions and/or redemptions, investors may be disadvantaged as a result of any shortfall of tax provision. You may be exposed to RMB currency risk. o The Fund may invest in assets denominated in offshore and onshore RMB. The RMB traded in the PRC is not freely convertible and is subject to exchange control policies and restrictions imposed by the PRC authorities. Restrictions on repatriation of RMB out of the PRC may limit the depth of the RMB market available outside of the PRC, and thereby may reduce the liquidity of the Fund. The RMB may be subject to devaluation, in which case the value of the investments in RMB assets will be adversely affected. Furthermore although offshore RMB and onshore RMB are the same currency, they are traded on different and separate markets and as such, their values could differ and their exchange rates may not move in the same direction. You may be exposed to RQFII regime risk. o Investments via the RQFII scheme are subject to risks such as regulatory risks, quota risks, limits on redemption, PRC depositary risks and PRC broker risks. You may be exposed to the risks of using Stock Connect programmes. o The regulations relating to the Stock Connect programmes are untested and subject to change which may have potential retrospective effect. There is no certainty as to how they will be applied. o The Fund will also be subject to other risks in connection with its investments in China A-Shares via Stock Connect programmes such as regulatory risks, taxation risk and RMB currency risk in relation to Stock Connect programmes. The net asset value of the Fund may likely have a high volatility due to the investment policies or portfolio management techniques employed in respect of the Fund. 3

8 FEES AND CHARGES WHAT ARE THE FEES AND CHARGES OF THIS INVESTMENT? Payable directly by you (on A/AT, I/IT and P/PT classes) You will need to pay the following fees and charges as a percentage of the net asset value of the share class (actual percentage depends on the relevant share class): Subscription Fee Up to 5% Fee/ Disinvestment Currently NIL Fee Conversion Fee Up to 5% Additional fees may be payable to Singapore distributors. Payable by the Fund from invested proceeds (on A/AT, I/IT and P/PT classes) The Fund will pay the following fees and charges (actual percentage depends on the relevant share class): All-in-Fee Up to 2.25% p.a. The fees and expenses of the investment manager, central administration agent and depositary will be covered by the All-in-Fee payable to the Management Company. VALUATIONS AND EXITING FROM THIS INVESTMENT HOW OFTEN ARE VALUATIONS AVAILABLE? The prices of shares will normally be published by the Company 2 Business Days after the relevant Valuation Day at sg.allianzgi.com. HOW CAN YOU EXIT FROM THIS INVESTMENT AND WHAT ARE THE RISKS AND COSTS IN DOING SO? There is no cancellation period for the Fund. Some Singapore distributors may, at their own discretion and in their own capacity, offer a cancellation period for subscription of shares and you may wish to check with your Singapore distributor You can exit the Fund by submitting to the Singapore Representative or Singapore distributor through whom you originally purchased your shares a written redemption request as described in the Prospectus. s are subject to minimum redemption and minimum holding amounts. You should normally receive the sale proceeds within 6 Valuation Days after the calculation of the relevant redemption price (or within such time frame as you have agreed with the Singapore Representative or Singapore distributor). Your redemption price is determined as follows: o If your redemption request is received by the Singapore Representative before 5 p.m. (Singapore time) on a day which is both a Dealing Day and a Singapore business day, you will be paid the redemption price for that Dealing Day (which is based on the net asset value per share of the Fund). o If not, you will be paid the redemption price for the next Dealing Day. (Please note that Singapore distributors may impose an earlier deadline to receive orders.) The redemption proceeds that you will receive will be the redemption price multiplied by the number of shares redeemed. An example is as follows: 1,000 x $10.00 = $10, $0 = $10, Shares request Price Gross Proceeds Fee / Disinvestment Fee* *There is currently no redemption fee / disinvestment fee payable. Net Proceeds CONTACT INFORMATION HOW DO YOU CONTACT US? If you have any queries regarding the Fund, you may contact the Singapore Representative at or at Marketing.SG@AllianzGI.com. Section 6 of the fees and charges. Sections 8.8, 11 and 9 of the valuation and exiting from the 4

9 APPENDIX: GLOSSARY OF TERMS Business Day : Means each day on which banks and exchanges in Luxembourg are open for business. For the avoidance of doubt, half-closed bank business days in Luxembourg are considered as being closed for business. PRC : Means the People s Republic of China, excluding the Hong Kong Special Administrative Region, the Macau Special Administrative Region and Taiwan. RMB : Means the Chinese Renminbi, the official currency of the PRC and, unless the context otherwise requires, the term RMB refers to offshore Chinese Renminbi ( CNH ) traded offshore in Hong Kong or markets outside the PRC and not to onshore Chinese Renminbi ( CNY ). RQFII : Means a Renminbi qualified foreign institutional investor under the RQFII regulations. Stock Connect : Means the program which aims to achieve mutual stock market access between PRC and Hong Kong. Valuation/ Dealing Day : Means each day on which banks and exchanges in Luxembourg, Hong Kong and PRC are open for business. 5

10 Prepared on: 28/2/18 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 shares in the 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. ALLIANZ AMERICAN INCOME Product Type Collective Launch Date 1 March 2017 Investment Scheme Management Company Allianz Global Investors GmbH Depositary State Street Bank Luxembourg S.C.A. Trustee Not applicable Dealing Frequency Every Dealing Day which is a Singapore business day Capital Guaranteed No Expense Ratio for % Financial Year ended 30 September 2017 Name of Guarantor Not applicable PRODUCT SUITABILITY WHO IS THE PRODUCT SUITABLE FOR? The Fund is only suitable for investors who: o pursue the objective of general capital formation/asset optimisation; o have basic knowledge and/or experience of financial products; and o are capable of bearing a financial loss. The Fund may not be suitable for investors who wish to withdrawal their capital from the Fund within a short timeframe. You should consult your financial adviser if in doubt whether this product is suitable for you. KEY PRODUCT FEATURES WHAT ARE YOU INVESTING IN? You are investing in a collective investment scheme constituted in Luxembourg that aims to provide long term capital growth and income by investing in debt securities of American bond markets with a focus on the US bond market. You may receive distributions if you are invested in a distributing share class*. The distribution date shall generally be on 15 December each year. Where the distributing share class contains additional letter(s) M / Mg, you may instead receive distributions on 15th of every month or if it contains additional letter(s) Q / Qg you may instead receive distributions quarterly on 15 March, 15 June, 15 September and 15 December. *Dividends may be paid out of capital or effectively out of capital and reduce the Fund s net asset value Investment Strategy Fund assets are primarily invested in debt securities of American bond markets. (until 28 March 2018) A minimum of 70% of Fund assets are invested in debt securities from the US and/or from companies which are constituents of either Further Information Section 5.1 of the product suitability. Sections 1, 2, 5 and 17.1 of the features of the Section 5 of the 1 The Prospectus is available for collection during normal business hours from Allianz Global Investors Singapore Limited at 12 Marina View, #13-02 Asia Square Tower 2, Singapore or accessible at sg.allianzgi.com or from any of our appointed distributors. 2 Annualised figure. 6

11 the Merrill Lynch U.S. Corporate Master Index or the Merrill Lynch U.S. High Yield Master II Index. (as of 29 March 2018) A minimum of 70% of Fund assets are invested in debt securities from the US and/or from companies which are constituents of either the ICE BofAML U.S. Corporate Master Index or the ICE BofAML U.S. High Yield Master II Index. A maximum of 60% of Fund assets may be invested in High-Yield Investments Type 2. A maximum of 30% of Fund assets may be invested in Emerging Markets. A maximum of 30% of Fund assets may be invested in convertible debt securities. On a temporary basis for liquidity management and/or defensive purpose and/or any other exceptional circumstances, and if the Investment Manager considers it in the best interest of the Fund, up to 100% of Fund assets may be held in deposits and/or invested directly in money market instruments and (up to 10% of Fund assets) in money market funds. The Fund may conduct securities lending transactions, over-the-counter ( OTC ) based repurchase and/or reverse repurchase transactions and similar OTC transactions in aggregate for up to 50% of the Fund s assets. The Fund may invest in financial derivative instruments for efficient portfolio management (including for hedging) but will not invest primarily or extensively in financial derivative instruments for investment purposes. Parties Involved WHO ARE YOU INVESTING WITH? The Fund is constituted as a sub-fund under the Allianz Global Investors Fund (the Company ). The Management Company is Allianz Global Investors GmbH. The Investment Manager is Allianz Global Investors U.S. LLC. The Depositary is State Street Bank Luxembourg S.C.A.. KEY RISKS WHAT ARE THE KEY RISKS OF THIS INVESTMENT? The value of the product and its dividends and coupons (if any) may rise or fall. These risk factors may adversely impact the net asset value of the product and cause you to lose some or all of your investment: Market and Credit Risks You may be exposed to general market risk. o The Fund is exposed to various general trends and tendencies in the economic and political situation as well as securities markets and investment sentiment, which are partially attributable to irrational factors. Such factors could lead to substantial and longer-lasting drops in prices affecting the entire market. You may be exposed to currency risk. o The Fund may hold assets or have a share class denominated in foreign currencies other than the base currency of the Fund. Accordingly, the Fund is exposed to a currency risk that if these foreign currency positions have not been hedged or if there is any change in the relevant exchange control regulations, the net asset value of the Fund or Class may be affected unfavourably. Any devaluation of the foreign currency against the base currency of the Fund would cause the value of the assets denominated in the foreign currency to fall. You may be exposed to issuer default risk. o The issuer of securities held by the Fund may become insolvent causing its inability to fulfill his payment obligations in a full and timely manner and causing such issued assets to become economically worthless. You may be exposed to creditworthiness risk. the investment strategy of the Sections 1, 3 and 4.4 of the Prospectus for the role and responsibilities of these entities. Section 7 of the risks of the 7

12 o The creditworthiness (ability to pay) of the issuer of an asset held by the Fund may fall. This usually leads to a decrease in the price of the asset greater than that caused by general market fluctuations. You may be exposed to volatility and liquidity risk. o Investments in securities in certain developing markets may be subject to higher volatility and lower liquidity compared to more developed markets. You may be exposed to sovereign debt risk. o The Fund s investment in interest-bearing securities issued or guaranteed by governments may be exposed to political, social and economic risks. The sovereign issues may not be able or willing to repay the principal and/or interest or may request the Fund to participate in rescheduling such debts. The Fund may suffer significant losses when there is a default of sovereign debt issuers. You may be exposed to country risk in the US. o The Fund s investments focus on the US, which may increase the concentration risk. Consequently, the Fund is particularly susceptible to the adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event or development in and risks of this country, or of companies based and / or operating in this country. Liquidity Risks The Fund is not listed in Singapore and you can redeem only on Dealing Days. o There is no secondary market in Singapore for the Fund. All redemption requests may only be made in the manner described in the Prospectus. Your right to redemption may be deferred or suspended under certain circumstances highlighted in paragraphs 9.3 and 12 of the Prospectus. Product-Specific Risks You may be exposed to the risk of interest rate changes. o If market interest rates rise, the value of the interest-bearing assets held by the Fund may decline substantially. This applies to an even greater degree if the Fund also holds interest-bearing securities with a longer time to maturity and a lower nominal interest rate. You may be exposed to downgrading risk. o The credit rating of interest bearing securities held by the Fund may be downgraded. The Fund may or may not be able to dispose of the securities that are being downgraded. This may lead to a fall in the net asset value of the Fund. You may be exposed to the risk of investing in high-yield investments and convertible bonds. o Investing in high-yield investments is normally associated with increased creditworthiness risk, risk of interest rate changes, general market risk, company-specific risk and liquidity risk. o Investing in convertible bonds is normally associated with increased creditworthiness risk, risk of default, risk of interest rate changes, prepayment risk, general market risk and liquidity risk. You may be exposed to valuation risk. o Valuation of the Fund assets may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the net asset value calculation of the Fund. You may be exposed to credit rating risk. o Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness of the security and/or issuer at all times. You may be exposed to derivatives risk. o (i) The derivatives may be misvalued or may have varying valuations; (ii) the use of derivatives may not completely hedge the risk intended to be hedged; (iii) derivative may become difficult to sell. In such cases, the Fund may not be able to liquidate a position at an appropriate time or price; (iv) there is also a creditworthiness risk (i.e. that the counterparty may default or be unable to completely fulfill its obligations); (v) given the leverage effect embedded in derivatives, even a small investment in derivatives could have a substantial, even negative, effect on the performance of the Fund. You may be exposed to the risk relating to distribution out of capital. 8

13 o If you invest in a share class which provides for distributions out of capital you should be aware that payment of such distributions may result in an immediate decrease in the net asset value per share and may reduce the capital available for future investment and capital growth. You may be exposed to RMB currency risk. o The Fund may invest in assets denominated in offshore and onshore RMB. The RMB traded in the PRC is not freely convertible and is subject to exchange control policies and restrictions imposed by the PRC authorities. Restrictions on repatriation of RMB out of the PRC may limit the depth of the RMB market available outside of the PRC, and thereby may reduce the liquidity of the Fund. The RMB may be subject to devaluation, in which case the value of the investments in RMB assets will be adversely affected. Furthermore although offshore RMB and onshore RMB are the same currency, they are traded on different and separate markets and as such, their values could differ and their exchange rates may not move in the same direction. The net asset value of the Fund may likely have a high volatility due to the investment policies or portfolio management techniques employed in respect of the Fund. FEES AND CHARGES WHAT ARE THE FEES AND CHARGES OF THIS INVESTMENT? Payable directly by you (on A/AT, I/IT and P/PT classes) You will need to pay the following fees and charges as a percentage of the net asset value of the share class (actual percentage depends on the relevant share class): Subscription Fee Up to 5% Fee/ Disinvestment Fee Currently NIL Conversion Fee Up to 5% Additional fees may be payable to Singapore distributors. Payable by the Fund from invested proceeds (on A/AT, I/IT and P/PT classes) The Fund will pay the following fees and charges (actual percentage depends on the relevant share class): All-in-Fee Up to 1.50% p.a. The fees and expenses of the investment manager, central administration agent and depositary will be covered by the All-in-Fee payable to the Management Company. VALUATIONS AND EXITING FROM THIS INVESTMENT HOW OFTEN ARE VALUATIONS AVAILABLE? The prices of shares will normally be published by the Company 2 Business Days after the relevant Valuation Day at sg.allianzgi.com. HOW CAN YOU EXIT FROM THIS INVESTMENT AND WHAT ARE THE RISKS AND COSTS IN DOING SO? There is no cancellation period for the Fund. Some Singapore distributors may, at their own discretion and in their own capacity, offer a cancellation period for subscription of shares and you may wish to check with your Singapore distributor. You can exit the Fund by submitting to the Singapore Representative or Singapore distributor through whom you originally purchased your shares a written redemption request as described in the Prospectus. s are subject to minimum redemption and minimum holding amounts. You should normally receive the sale proceeds within 6 Valuation Days after the calculation of the relevant redemption price (or within such time frame as you have agreed with the Singapore Representative or Singapore distributor). Your redemption price is determined as follows: o o If your redemption request is received by the Singapore Representative before 5 p.m. (Singapore time) on a day which is both a Dealing Day and a Singapore business day, you will be paid the redemption price for that Dealing Day (which is based on the net asset value per share of the Fund). If not, you will be paid the redemption price for the next Dealing Day. (Please note that Singapore distributors may impose an earlier deadline to receive orders.) Sections 8.9, 11 and 9 of the Prospectus for valuation and exiting from the 9

14 The redemption proceeds that you will receive will be the redemption price multiplied by the number of shares redeemed. An example is as follows: 1,000 x $10.00 = $10, $0 = $10, Shares request Price Gross Proceeds Fee / Disinvestment Fee* Net Proceeds *There is currently no redemption fee / disinvestment fee payable. CONTACT INFORMATION HOW DO YOU CONTACT US? If you have any queries regarding the Fund, you may contact the Singapore Representative at or at Marketing.SG@AllianzGI.com. APPENDIX: GLOSSARY OF TERMS Business Day : Means each day on which banks and exchanges in Luxembourg are open for business. For the avoidance of doubt, half-closed bank business days in Luxembourg are considered as being closed for business. Emerging Markets High-Yield Investments Type 2 : Means a country which is not classified by the World Bank as a high-income economy (high gross national income per capita). : Means an investment in debt securities which at the time of acquisition has a rating of between BB+ and B- (inclusive) (Standard & Poor s and Fitch) or of between Ba1 and B3 (inclusive) (Moody s) or the equivalent by another rating agency or, if unrated, as determined by the Investment Manager to be of comparable quality. In case of a minimum (maximum) investment limit of High-Yield Investment Type 2 securities according to the Fund s investment restrictions, the lowest (highest) available rating of a debt security at acquisition day is decisive for the assessment of the possible acquisition of such debt security as High-Yield Investment Type 2. PRC : Means the People s Republic of China, excluding the Hong Kong Special Administrative Region, the Macau Special Administrative Region and Taiwan. RMB : Means the Chinese Renminbi, the official currency of the PRC and, unless the context otherwise requires, the term RMB refers to offshore Chinese Renminbi ( CNH ) traded offshore in Hong Kong or markets outside the PRC and not to onshore Chinese Renminbi ( CNY ). Valuation/ Dealing Day : Means each day on which banks and exchanges in Luxembourg and the United States are open for business. 10

15 Prepared on: 8/1/18 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 shares in the 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. Product Type Management Company ALLIANZ ASIA PACIFIC EQUITY Collective Investment Scheme Allianz Global Investors GmbH Launch Date 11 January 2005 Depositary State Street Bank Luxembourg S.C.A. Trustee Not applicable Dealing Frequency Every Dealing Day which is a Singapore business day Capital Guaranteed No Expense Ratio for 0.93% to 1.80% Financial Year ended 30 September 2017 Name of Guarantor Not applicable PRODUCT SUITABILITY WHO IS THE PRODUCT SUITABLE FOR? The Fund is only suitable for investors who: o pursue the objective of general capital formation/asset optimisation and/or above-average participation in price changes; o have basic knowledge and/or experience of financial products; and o are capable of bearing a financial loss. The Fund may not be suitable for investors who wish to withdrawal their capital from the Fund within a short or medium timeframe. You should consult your financial adviser if in doubt whether this product is suitable for you. KEY PRODUCT FEATURES WHAT ARE YOU INVESTING IN? You are investing in a collective investment scheme constituted in Luxembourg that aims to provide long-term capital growth by investing in Asia-Pacific equity markets, excluding Japan. You may receive distributions if you are invested in a distributing share class*. The distribution date shall generally be on 15 December each year. Where the distributing share class contains additional letter(s) M / Mg, you may instead receive distributions on 15th of every month or if it contains additional letter(s) Q / Qg you may instead receive distributions quarterly on 15 March, 15 June, 15 September and 15 December. *Dividends may be paid out of capital or effectively out of capital and reduce the Fund s net asset value Further Information Section 5.1 of the product suitability. Sections 1, 2, 5 and 17.1 of the Prospectus for features of the 1 The Prospectus is available for collection during normal business hours from Allianz Global Investors Singapore Limited at 12 Marina View, #13-02 Asia Square Tower 2, Singapore or accessible at sg.allianzgi.com or from any of our appointed distributors. 11

16 Investment Strategy A minimum of 70% of Fund assets are invested in Asia-Pacific equity markets, excluding Japan. Fund assets may be invested in Emerging Markets. A maximum of 30% of Fund assets may be invested into the China A-Shares market either directly through Stock Connect or indirectly through eligible instruments. The Fund may invest in financial derivative instruments for efficient portfolio management (including for hedging) but will not invest primarily or extensively in financial derivative instruments for investment purposes. Parties Involved WHO ARE YOU INVESTING WITH? The Fund is constituted as a sub-fund under the Allianz Global Investors Fund (the Company ). The Management Company is Allianz Global Investors GmbH. The Investment Manager is Allianz Global Investors Asia Pacific Limited. The Depositary is State Street Bank Luxembourg S.C.A.. KEY RISKS WHAT ARE THE KEY RISKS OF THIS INVESTMENT? The value of the product and its dividends and coupons (if any) may rise or fall. These risk factors may adversely impact the net asset value of the product and cause you to lose some or all of your investment: Market and Credit Risks You may be exposed to general market risk. o The Fund is exposed to various general trends and tendencies in the economic and political situation as well as securities markets and investment sentiment, which are partially attributable to irrational factors. Such factors could lead to substantial and longer-lasting drops in prices affecting the entire market. You may be exposed to currency risk. o The Fund may hold assets or have a share class denominated in foreign currencies other than the base currency of the Fund. Accordingly, the Fund is exposed to a currency risk that if these foreign currency positions have not been hedged or if there is any change in the relevant exchange control regulations, the net asset value of the Fund or Class may be affected unfavourably. Any devaluation of the foreign currency against the base currency of the Fund would cause the value of the assets denominated in the foreign currency to fall. You may be exposed to country and region risk in Asia Pacific. o The Fund s investments focus on Asia Pacific, which may increase the concentration risk. Consequently, the Fund is particularly susceptible to the adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event or development in and risks of this region, or of companies based and / or operating in this region. You may be exposed to emerging markets risk. o The Fund invests in emerging markets which are subject to greater liquidity risk, currency risk, general market risk, settlement risk and custodial risk. The legal, taxation and regulatory environment and the accounting, auditing and reporting standards may deviate substantially to the Fund s detriment from the levels and standards that are considered standard international practice. Section 5 of the Prospectus for the investment strategy of the Sections 1, 3 and 4.4 of the the role and responsibilities of these entities. Section 7 of the Prospectus for risks of the 12

17 Liquidity Risks The Fund is not listed in Singapore and you can redeem only on Dealing Days. o There is no secondary market in Singapore for the Fund. All redemption requests may only be made in the manner described in the Prospectus. Your right to redemption may be deferred or suspended under certain circumstances highlighted in paragraphs 9.3 and 12 of the Prospectus. Product-Specific Risks You may be exposed to company-specific risk. o The value of the Fund s assets may drop significantly and for an extended period of time if company-specific factors (such as the issuer s business situation) deteriorates, even if the market trend is generally positive. You may be exposed to derivatives risk. o (i) The derivatives may be misvalued or may have varying valuations; (ii) the use of derivatives may not completely hedge the risk intended to be hedged; (iii) derivative may become difficult to sell. In such cases, the Fund may not be able to liquidate a position at an appropriate time or price; (iv) there is also a creditworthiness risk (i.e. that the counterparty may default or be unable to completely fulfill its obligations); (v) given the leverage effect embedded in derivatives, even a small investment in derivatives could have a substantial, even negative, effect on the performance of the Fund. You may be exposed to the risk relating to distribution out of capital. o If you invest in a share class which provides for distributions out of capital you should be aware that payment of such distributions may result in an immediate decrease in the net asset value per share and may reduce the capital available for future investment and capital growth. You may be exposed to PRC tax risk. o It is possible that the current tax laws, regulations and practices in the PRC will change (which may have retrospective effect). Any increased tax liabilities on the Fund may adversely affect the Fund s value. o If no or inadequate provision for potential withholding tax is made and in the event that the PRC tax authorities enforce the imposition of such withholding tax, the net asset value of the Fund may be adversely affected. Depending on the timing of their subscriptions and/or redemptions, investors may be disadvantaged as a result of any shortfall of tax provision. You may be exposed to the risk of investing in China A-Shares. o The Fund assets may be invested in China A-Shares. The securities market in the PRC, including China A-Shares, may be more volatile and unstable (for example, due to the risk of suspension/limitation in trading of a particular stock or government intervention) than markets in more developed countries and has potential settlement difficulties. This may result in significant fluctuations in the prices of securities traded in such market and thereby affecting the prices of shares of the Fund. You may be exposed to the risks of using Stock Connect programmes. o The regulations relating to the Stock Connect programmes are untested and subject to change which may have potential retrospective effect. There is no certainty as to how they will be applied. o The Fund will also be subject to other risks in connection with its investments in China A-Shares via Stock Connect programmes such as regulatory risks, taxation risk and RMB currency risk in relation to Stock Connect programmes. The net asset value of the Fund may likely have a high volatility due to the investment policies or portfolio management techniques employed in respect of the Fund. 13

18 FEES AND CHARGES WHAT ARE THE FEES AND CHARGES OF THIS INVESTMENT? Payable directly by you (on A/AT, I/IT and P/PT classes) You will need to pay the following fees and charges as a percentage of the net asset value of the share class (actual percentage depends on the relevant share class): Subscription Fee Up to 5% Fee/ Disinvestment Currently NIL Fee Conversion Fee Up to 5% Additional fees may be payable to Singapore distributors. Payable by the Fund from invested proceeds (on A/AT, I/IT and P/PT classes) The Fund will pay the following fees and charges (actual percentage depends on the relevant share class): All-in-Fee Up to 1.80% p.a. The fees and expenses of the investment manager, central administration agent and depositary will be covered by the All-in-Fee payable to the Management Company. VALUATIONS AND EXITING FROM THIS INVESTMENT HOW OFTEN ARE VALUATIONS AVAILABLE? The prices of shares will normally be published by the Company 2 Business Days after the relevant Valuation Day at sg.allianzgi.com. HOW CAN YOU EXIT FROM THIS INVESTMENT AND WHAT ARE THE RISKS AND COSTS IN DOING SO? There is no cancellation period for the Fund. Some Singapore distributors may, at their own discretion and in their own capacity, offer a cancellation period for subscription of shares and you may wish to check with your Singapore distributor. You can exit the Fund by submitting to the Singapore Representative or Singapore distributor through whom you originally purchased your shares a written redemption request as described in the Prospectus. s are subject to minimum redemption and minimum holding amounts. You should normally receive the sale proceeds within 6 Valuation Days after the calculation of the relevant redemption price (or within such time frame as you have agreed with the Singapore Representative or Singapore distributor). Your redemption price is determined as follows: o If your redemption request is received by the Singapore Representative before 5 p.m. (Singapore time) on a day which is both a Dealing Day and a Singapore business day, you will be paid the redemption price for that Dealing Day (which is based on the net asset value per share of the Fund). o If not, you will be paid the redemption price for the next Dealing Day. (Please note that Singapore distributors may impose an earlier deadline to receive orders.) The redemption proceeds that you will receive will be the redemption price multiplied by the number of shares redeemed. An example is as follows: 1,000 x $10.00 = $10, $0 = $10, Shares request Price Gross Proceeds Fee / Disinvestment Fee* *There is currently no redemption fee / disinvestment fee payable. Net Proceeds CONTACT INFORMATION HOW DO YOU CONTACT US? If you have any queries regarding the Fund, you may contact the Singapore Representative at or at Marketing.SG@AllianzGI.com. Section 6 of the fees and charges. Sections 8.8, 11 and 9 of the valuation and exiting from the 14

19 APPENDIX: GLOSSARY OF TERMS Business Day : Means each day on which banks and exchanges in Luxembourg are open for business. For the avoidance of doubt, half-closed bank business days in Luxembourg are considered as being closed for business. Emerging Markets : Means a country which is not classified by the World Bank as a highincome economy (high gross national income per capita). PRC : Means the People s Republic of China, excluding the Hong Kong Special Administrative Region, the Macau Special Administrative Region and Taiwan. RMB : Means the Chinese Renminbi, the official currency of the PRC and, unless the context otherwise requires, the term RMB refers to offshore Chinese Renminbi ( CNH ) traded offshore in Hong Kong or markets outside the PRC and not to onshore Chinese Renminbi ( CNY ). Stock Connect : Means the program which aims to achieve mutual stock market access between PRC and Hong Kong. Valuation/ Dealing Day : Means a Business Day. 15

20 Prepared on: 8/1/18 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 shares in the 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. ALLIANZ ASIAN MULTI INCOME PLUS Product Type Management Company Collective Investment Scheme Allianz Global Investors GmbH Launch Date 15 July 2009 Depositary State Street Bank Luxembourg S.C.A. Trustee Not applicable Dealing Frequency Every Dealing Day which is a Singapore business day Capital Guaranteed No Expense Ratio for 0.86% to 1.49% Financial Year ended 30 September 2017 Name of Guarantor Not applicable PRODUCT SUITABILITY WHO IS THE PRODUCT SUITABLE FOR? The Fund is only suitable for investors who: o pursue the objective of general capital formation/asset optimisation and/or aboveaverage participation in price changes; o have advanced knowledge and/or experience of financial products; and o are capable of bearing a financial loss. The Fund may not be suitable for investors who wish to withdrawal their capital from the Fund within a short timeframe. You should consult your financial adviser if in doubt whether this product is suitable for you. KEY PRODUCT FEATURES WHAT ARE YOU INVESTING IN? You are investing in a collective investment scheme constituted in Luxembourg that aims to provide long-term capital growth and income by investing in Asia Pacific equity and bond markets. You may receive distributions if you are invested in a distributing share class*. The distribution date shall generally be on 15 December each year. Where the distributing share class contains additional letter(s) M / Mg, you may instead receive distributions on 15th of every month or if it contains additional letter(s) Q / Qg you may instead receive distributions quarterly on 15 March, 15 June, 15 September and 15 December. *Dividends may be paid out of capital or effectively out of capital and reduce the Fund s net asset value Investment Strategy A minimum of 70% of Fund assets are invested directly in Asia Pacific equity and bond markets. A maximum of 85% of Fund assets may be invested in Asia Pacific equities. A maximum of 85% of Fund assets may be invested in Asia Pacific debt securities. Fund assets may be invested in Emerging Markets. A maximum of 85% of Fund assets may be invested in High Yield Investments Type 1. A maximum of 30% of Fund assets may be invested into the China A-Shares market either directly through Stock Connect or indirectly through eligible instruments. A maximum of 30% of Fund assets may be held in deposits and be invested in money market instruments and (up to 10% of Fund assets) in money market funds. Further Information Section 5.1 of the product suitability. Sections 1, 2, 5 and 17.1 of the features of the Section 5 of the the investment strategy of the 1 The Prospectus is available for collection during normal business hours from Allianz Global Investors Singapore Limited at 12 Marina View, #13-02 Asia Square Tower 2, Singapore or accessible at sg.allianzgi.com or from any of our appointed distributors. 16

21 On a temporary basis for liquidity management and/or defensive purpose and/or any other exceptional circumstances, and if the Investment Manager considers it in the best interest of the Fund, up to 100% of Fund assets may be held in deposits and/or invested directly in money market instruments and (up to 10% of Fund assets) in money market funds. The Fund may conduct securities lending transactions, over-the-counter ( OTC ) based repurchase and/or reverse repurchase transactions and similar OTC transactions in aggregate for up to 50% of the Fund s assets. The Fund may invest in financial derivative instruments for efficient portfolio management (including for hedging) but will not invest primarily or extensively in financial derivative instruments for investment purposes. Parties Involved WHO ARE YOU INVESTING WITH? The Fund is constituted as a sub-fund under the Allianz Global Investors Fund (the Company ). The Management Company is Allianz Global Investors GmbH. The Investment Manager is Allianz Global Investors Asia Pacific Limited and the Sub-Investment Manager is Allianz Global Investors Singapore Limited. The Depositary is State Street Bank Luxembourg S.C.A.. KEY RISKS WHAT ARE THE KEY RISKS OF THIS INVESTMENT? The value of the product and its dividends and coupons (if any) may rise or fall. These risk factors may adversely impact the net asset value of the product and cause you to lose some or all of your investment: Market and Credit Risks You may be exposed to general market risk. o The Fund is exposed to various general trends and tendencies in the economic and political situation as well as securities markets and investment sentiment, which are partially attributable to irrational factors. Such factors could lead to substantial and longer-lasting drops in prices affecting the entire market. You may be exposed to currency risk. o The Fund may hold assets or have a share class denominated in foreign currencies other than the base currency of the Fund. Accordingly, the Fund is exposed to a currency risk that if these foreign currency positions have not been hedged or if there is any change in the relevant exchange control regulations, the net asset value of the Fund or Class may be affected unfavourably. Any devaluation of the foreign currency against the base currency of the Fund would cause the value of the assets denominated in the foreign currency to fall. You may be exposed to issuer default risk. o The issuer of securities held by the Fund may become insolvent causing its inability to fulfill his payment obligations in a full and timely manner and causing such issued assets to become economically worthless. You may be exposed to creditworthiness risk. o The creditworthiness (ability to pay) of the issuer of an asset held by the Fund may fall. This usually leads to a decrease in the price of the asset greater than that caused by general market fluctuations. You may be exposed to volatility and liquidity risk. o Investments in securities in certain developing markets may be subject to higher volatility and lower liquidity compared to more developed markets. You may be exposed to sovereign debt risk. o The Fund s investment in interest-bearing securities issued or guaranteed by governments may be exposed to political, social and economic risks. The sovereign issues may not be able or willing to repay the principal and/or interest or may request the Fund to participate in rescheduling such debts. The Fund may suffer significant losses when there is a default of sovereign debt issuers. You may be exposed to country and region risk in Asia Pacific. o The Fund s investments focus on Asia Pacific, which may increase the concentration risk. Consequently, the Fund is particularly susceptible to the adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory event or development in and risks of this region, or of companies based and / or operating in this region. You may be exposed to emerging markets risk. The Fund invests in emerging markets which are subject to greater liquidity risk, currency risk, general market risk, settlement risk and custodial risk. The legal, Sections 1, 3 and 4.4 of the Prospectus for the role and responsibilities of these entities. Section 7 of the risks of the 17