SUPPLEMENTARY MASTER PROSPECTUS

Transcription

1 SUPPLEMENTARY MASTER PROSPECTUS This Supplementary Master Prospectus is dated 13 May 2016 and expires on 14 July 2016 ( Supplementary Master Prospectus ) Comprising 26 funds: MONEY MARKET FUND Eastspring Investments Cash Management Fund... Eastspring Investments Islamic Income Fund... BOND FUND Eastspring Investments Bond Fund... Eastspring Investments Bond Plus Fund... Eastspring Investments Institutional Income Fund... Eastspring Investments Enhanced Income Fund... Eastspring Investments Dana Wafi... Eastspring Investments Dana al-islah... BALANCED FUND Eastspring Investments Balanced Fund... Eastspring Investments Asia Select Income Fund... Eastspring Investments ASEAN al-adiil Fund... MIXED ASSET FUND Eastspring Investments Dynamic Fund Eastspring Investments Dana Dinamik EQUITY FUND Eastspring Investments Small-cap Fund... Eastspring Investments Growth Fund... Eastspring Investments Equity Income Fund... Eastspring Investments MY Focus Fund... Eastspring Investments Asia Pacific Equity MY Fund... Eastspring Investments Asia Pacific ex-japan Target Return Fund... Eastspring Investments Dana al-ilham... Eastspring Investments Asia Pacific Shariah Equity Fund... Eastspring Investments Dinasti Equity Fund... FEEDER FUND Eastspring Investments Indonesia Equity MY Fund... Eastspring Investments Global Emerging Markets Fund... Eastspring Investments Global Basics MY Fund... Eastspring Investments Global Leaders MY Fund... Date of Constitution 29 May February 2007 Date of Constitution 29 May April April May February August 2002 Date of Constitution 29 May November October 2013 Date of Constitution 6 November February 2004 Date of Constitution 29 May May October March July October August November October 2009 Date of Constitution 27 April January January March 2006 MANAGER Eastspring Investments Berhad ( U) TRUSTEE Deutsche Trustees Malaysia Berhad ( H) INVESTORS ARE ADVISED TO READ AND UNDERSTAND THE CONTENTS OF THIS SUPPLEMENTARY MASTER PROSPECTUS DATED 13 MAY 2016 AND THE MASTER PROSPECTUS DATED 15 JULY IF IN DOUBT, PLEASE CONSULT A PROFESSIONAL ADVISER.

2 RESPONSIBILITY STATEMENT This Supplementary Master Prospectus has been reviewed and approved by the directors of Eastspring Investments Berhad and they collectively and individually accept full responsibility for the accuracy of the information. Having made all reasonable enquiries, they confirm to the best of their knowledge and belief, that there are no false or misleading statements, or omission of other facts which would make any statement in this Supplementary Master Prospectus false or misleading. STATEMENTS OF DISCLAIMER The Securities Commission Malaysia has authorised the Funds and a copy of this Supplementary Master Prospectus has been registered with the Securities Commission Malaysia. The authorisation of the Funds, and registration of this Supplementary Master Prospectus, should not be taken to indicate that the Securities Commission Malaysia recommends the said Funds or assumes responsibility for the correctness of any statement made, opinion expressed or report contained in this Supplementary Master Prospectus. The Securities Commission Malaysia is not liable for any non-disclosure on the part of Eastspring Investments Berhad, which is responsible for the said Funds and takes no responsibility for the contents in this Supplementary Master Prospectus. The Securities Commission Malaysia makes no representation on the accuracy or completeness of this Supplementary Master Prospectus, and expressly disclaims any liability whatsoever arising from, or in reliance upon, the whole or any part of its contents. INVESTORS SHOULD RELY ON THEIR OWN EVALUATION TO ASSESS THE MERITS AND RISKS OF THE INVESTMENT. IF INVESTORS ARE UNABLE TO MAKE THEIR OWN EVALUATION, THEY ARE ADVISED TO CONSULT PROFESSIONAL ADVISERS. ADDITIONAL STATEMENTS No units will be issued or sold based on this Supplementary Master Prospectus after the expiry date of the Master Prospectus which falls on 14 July Investors should note that they may seek recourse under the Capital Markets and Services Act 2007 for breaches of securities laws and regulations including any statement in the Supplementary Master Prospectus that is false, misleading, or from which there is a material omission; or for any misleading or deceptive act in relation to the Supplementary Master Prospectus or the conduct of any other person in relation to the Funds. Supplementary Master Prospectus 1

3 Eastspring Investments Islamic Trust (comprising Eastspring Investments Dana al-ilham, Eastspring Investments Dana al-islah and Eastspring Investments Dana Wafi), Eastspring Investments Dana Dinamik, Eastspring Investments Islamic Income Fund, Eastspring Investments Asia Pacific Shariah Equity Fund, Eastspring Investments Dinasti Equity Fund and Eastspring Investments ASEAN al- Adiil Fund have been certified as being Shariah-compliant by the Shariah adviser appointed for the Funds. This Supplementary Master Prospectus does not constitute an offer or solicitation by anyone in any country or jurisdiction other than in Malaysia. Accordingly, this Supplementary Master Prospectus may not be used for the purpose of an offer or solicitation in any jurisdiction or in any circumstances in which such offer and solicitation is not authorised. 2 Supplementary Master Prospectus

4 Unless otherwise provided in this Supplementary Master Prospectus, all the capitalised terms used herein shall have the same meanings ascribed to them in the Master Prospectus dated 15 July 2015 ( Master Prospectus ). This Supplementary Master Prospectus is to inform investors that: The preface of the Master Prospectus has been amended. Tan Sri Datuk Abdul Rahim bin Haji Din has resigned as a director of Eastspring Investments Berhad and as a member of investment committee of the Funds with effect from 7 August Cheah Lee Ling has resigned as a director and chief executive officer of Eastspring Investments Berhad and as a member of investment committee of the Funds with effect from 2 October The said resignations were effective immediately, save for her employment as the chief executive officer where her last date of employment was on 31 December Khoo Chuan Keat has been appointed as a director and as a member of audit and compliance committee of Eastspring Investments Berhad with effect from 15 October Ho Yik has resigned as a director and as a member of audit and compliance committee of Eastspring Investments Berhad with effect from 19 October Abdul Khalil bin Abdul Hamid has been appointed as a member of investment committee for all the Funds with effect from 9 November Jackie Chew Pei Pei (Jackie Zhou PeiPei) has been appointed as a director of Eastspring Investments Berhad with effect from 25 November Dato Saiful Bahri bin Zainuddin has been appointed as a member of investment committee for all the Funds with effect from 2 March Raymond Tang Chee Kin has been appointed as a director and chief executive officer of Eastspring Investments Berhad and as a member of investment committee of the Funds with effect from 1 April The abbreviation for American depository receipts has been added. The performance benchmark for Eastspring Investments Dinasti Equity Fund has been amended. The performance benchmark for Eastspring Investments Indonesia Equity MY Fund has been changed from JCI to MSCI Indonesia 10/40 Index with effect from 1 January The information in relation to the external investment manager for Eastspring Investments Asia Pacific Equity MY Fund has been added. The annual management fee and annual trustee fee for Eastspring Investments Islamic Income Fund have been revised. The security risk for equity fund has been amended. Supplementary Master Prospectus 3

5 The interest rate risk for money market fund, bond fund, balanced fund, mixed asset fund and equity fund have been amended. The counterparty risk for balanced fund has been updated. The investment strategy for Eastspring Investments Bond Plus Fund, Eastspring Investments Enhanced Income Fund, Eastspring Investments Dana Wafi, Eastspring Investments Dana al-islah, Eastspring Investments Balanced Fund, Eastspring Investments ASEAN al-adiil Fund, Eastspring Investments Dynamic Fund, Eastspring Investments Dana Dinamik, Eastspring Investments Equity Income Fund, Eastspring Investments MY Focus Fund, Eastspring Investments Asia Pacific ex-japan Target Return, Eastspring Investments Asia Pacific Shariah Equity Fund and Eastspring Investments Dinasti Equity Fund have been amended. The counterparty risk has been added under the Specific Risks When Investing in the Target Fund. The asset allocation of Eastspring Investments Asia Pacific ex-japan Target Return Fund has been amended. The Adding Value through an Active Asset Allocation Process section for Eastspring Investments Dragon Peacock Fund under the Information in Relation to the Target Fund has been updated. The pricing adjustment policy of Eastspring Investments (Singapore) Limited, dilution policy of M&G Investments Management Limited and Schroder Investment Management (United Kingdom) Limited has been added under the Information in Relation to the Target Fund. The investment strategy for M&G - Global Leaders Fund, M&G - Global Basics Fund and Schroders International Selection Fund Emerging Markets have been updated. The permitted investment & investment restrictions and limits for M&G - Global Leaders Fund and M&G - Global Basics Fund have been updated. The Other Expenses Related to the Fund section has been updated. The sub-headings of Computation of Selling Price and Computation of Repurchase Price under Fees, Charges and Expenses have been amended. The repurchase charge has been removed as it was abolished with effect from 15 July The list of documents required in purchasing Units of the Funds has been updated. The Purchase Application and Acceptance section has been amended. The How to Redeem Units section has been updated. The Cooling-Off Period & Cooling-Off Right section has been updated. The Switching Between Funds section has been updated. The Transfer of Units section has been updated. 4 Supplementary Master Prospectus

6 The background of the Manager has been amended. The profiles of the board of directors, audit and compliance committee, key management staff and investment committee have been updated. The information in relation to the chief executive officer and financial position of the Trustee has been updated. The Permitted Expenses Payable by the Fund section has been updated. The directory of sales office in Selangor has been amended. The detail of Kenanga Investors Berhad as one of the distribution channels has been added under the List of Distribution Channels. Supplementary Master Prospectus 5

7 1. Amendments to Preface of the Prospectus The information in relation to the preface is hereby deleted and replaced with the following: Dear Investor, At Eastspring Investments Berhad ( Eastspring ), we provide a broad range of unit trust funds to cater to the varying investment needs of our unit trust investors. We are pleased to feature in this master prospectus, our range of unit trust funds comprising conventional and Shariah-compliant equity, balanced, mixed asset, bond and money market funds. You will find that Chapter 3: Key Data is a useful section of this master prospectus which will provide you with a summary of the respective Funds objective and investment strategy. The Key Data also sets out the investor s profile which will give some indication as to whether any of our Funds would be suitable for your investment needs. All investments carry some form of risk. Please refer to Chapter 4: Risk Factors for further information on the specific risks of the Fund. It is also important to note that there are fees and charges relating to the Fund such as sales charge, annual management fee, annual trustee fee, transfer fee and other expenses. The fees and charges are also set out in the Key Data section. You may buy or sell Units at any of our branches listed on page 352 or through our Authorised Distributors listed on pages 354, 355 and 356. Should you have any enquiries, you may contact our client services at or our Authorised Distributors near you. Yours faithfully, for and on behalf of EASTSPRING INVESTMENTS BERHAD Julian Christopher Vivian Pull Chairman 6 Supplementary Master Prospectus

8 2. Amendments to page 2 of the Master Prospectus Definitions The information in relation to the ADRs is hereby added as follows: ADRs means American depository receipts. A negotiable certificate issued by a United States of America bank representing a specified number of shares (or one share) in a foreign stock that is traded on a United States of America exchange. ADRs are denominated in United States dollars, with the underlying security held by a United States of America financial institution overseas. ADRs help to reduce administration and duty costs that would otherwise be levied on each transaction. 3. Amendments to page 3 of the Master Prospectus Definitions The information in relation to the DJIM Great China Index is hereby deleted and replaced with the following: DJIM Greater China Index means the Dow Jones Islamic Market Greater China Index. 4. Amendments to page 5 of the Master Prospectus Definitions i. The information in relation to the JCI is hereby deleted. ii. The information in relation to the MSCI Indonesia 10/40 Index is hereby added as follows: MSCI Indonesia 10/40 Index means the Morgan Stanley Capital International Indonesia 10/40 Index. 5. Amendments to page 10 of the Master Prospectus Corporate Directory Board of Directors of the Manager The information in relation to the board of directors of Eastspring Investments Berhad is hereby deleted and replaced with the following: 1. Julian Christopher Vivian Pull (Chairman, non-independent, non-executive director) 2. Iskander bin Ismail Mohamed Ali (Independent, non-executive director) 3. Khoo Chuan Keat (Independent, non-executive director) 4. Jackie Chew Pei Pei (Jackie Zhou PeiPei) (Non-independent, non-executive director) 5. Raymond Tang Chee Kin (Non-independent, executive director) 6. Amendments to page 10 of the Master Prospectus Corporate Directory Investment Committee of the Fund The information in relation to the investment committee of the Fund is hereby deleted and replaced with the following: 1. Ho Yik (Independent member) 2. Robert Yap Yen Choon (Independent member) 3. Abdul Khalil bin Abdul Hamid (Independent member) Supplementary Master Prospectus 7

9 4. Dato Saiful Bahri bin Zainuddin (Independent member) 5. Raymond Tang Chee Kin (Non-independent member) 7. Amendments to page 10 of the Master Prospectus Corporate Directory Audit and Compliance Committee of the Manager The information in relation to the audit and compliance committee of Eastspring Investments Berhad is hereby deleted and replaced with the following: 1. Iskander bin Ismail Mohamed Ali (Independent) 2. Khoo Chuan Keat (Independent) 3. Niall Dermot Grady (Non-independent) 8. Amendments to page 11 of the Master Prospectus Corporate Directory Manager s Delegate External Investment Manager For Eastspring Investments Asia Pacific Equity MY Fund The information in relation to the external investment manager for Eastspring Investments Asia Pacific Equity MY Fund has been added as follows: Name Company no. Registered Office & Business Office Eastspring Investments (Singapore) Limited H No. 10, Marina Boulevard #32-01 Marina Bay Financial Centre Tower 2 Singapore Telephone no Fax no Website 9. Amendments to page 28 of the Master Prospectus Key Data Fund Information The information in relation to the 2 nd paragraph of the investment strategy of Eastspring ASEAN al-adiil is hereby deleted and replaced with the following: The Fund also invests in domestic and/or foreign sukuk issued by corporations, financial institutions and governments of ASEAN member countries which are traded in the ASEAN markets or listed on the ASEAN exchanges. Corporations and financial institutions which issue sukuk shall have their business incorporated in ASEAN member countries. 8 Supplementary Master Prospectus

10 The Fund shall invest in domestic sukuk* which is issued by the corporations and financial institutions shall carry a rating of at least BBB3 or P2 by RAM or its equivalent rating by any other domestic rating agencies whilst foreign sukuk shall carry a rating of at least BB3 or A-3 by Standard & Poor s or its equivalent rating by any other global rating agencies. However, sukuk issued by governments need not be rated. Should the credit rating of the domestic sukuk be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected domestic sukuk in the market. The Fund s investments may also include Islamic liquid assets. 10. Amendments to page 38 of the Master Prospectus Key Data Fund Information The information in relation to the 1 st paragraph of the investment strategy of Eastspring Asia Pacific ex-japan Target Return is hereby deleted and replaced with the following: The Fund seeks to achieve its objective by investing in equities and equity-related securities, such as ADRs, rights and warrants, which are domiciled in, listed in, and/or have significant operations in the Asia Pacific ex-japan region. Significant operations means where the business derives more than 50% of total group revenue from countries in the Asia Pacific ex-japan region. The calculation would be based on the most recent financial reports released by the companies (e.g. interim and annual reports). For example, the Fund can invest in a company with significant operations in Indonesia but listed on the New York Stock Exchange. 11. Amendments to page 43 of the Master Prospectus Key Data Fund Information The information in relation to the performance benchmark of Eastspring Investments Dinasti Equity Fund is hereby deleted and replaced with the following: Performance Benchmark DJIM Greater China Index Source: Note: The risk profile of the Fund is different from the risk profile of the performance benchmark. * domestic sukuk refer to the following: a. sukuk that is issued and offered in Malaysia; or b. sukuk that is issued out of Malaysia and offered in Malaysia; and the issuer is domiciled in Malaysia or out of Malaysia. Supplementary Master Prospectus 9

11 12. Amendments to page 44 of the Master Prospectus Key Data Fund Information The information in relation to the performance benchmark of Eastspring Investments Indonesia Equity MY Fund is hereby deleted and replaced with the following: Performance Benchmark MSCI Indonesia 10/40 Index Source: Note: The risk profile of the Fund is different from the risk profile of the performance benchmark. 13. Amendments to page 47 of the Master Prospectus Key Data Fund Information The information in relation to the principal risks of the target fund for Eastspring Investments Global Basics MY Fund is hereby deleted and replaced with the following: Principal Risks of the Target Fund Security risk Fund management of Target Fund risk Errors in calculation of the net asset value of the Target Fund s risk Liquidity risk Countries or Foreign securities risk Currency risk Restrictions on foreign investment Counterparty risk 14. Amendments to page 50 of the Master Prospectus Key Data Fund Information The information in relation to the principal risks of the target fund for Eastspring Investments Global Leaders MY Fund is hereby deleted and replaced with the following: Principal Risks of the Target Fund Security risk Fund management of Target Fund risk Errors in calculation of the net asset value of the Target Fund s risk Liquidity risk Countries or Foreign securities risk Currency risk Charges to capital risk Restrictions on foreign investment Counterparty risk 10 Supplementary Master Prospectus

12 15. Amendments to page 52 of the Master Prospectus Key Data Fees, Charges and Expenses The information in relation to the 2 nd bullet point of the 2 nd paragraph of the Fees, Charges and Expenses is hereby deleted and replaced with the following: the maximum sales charge imposed by the Authorised Distributors. 16. Amendments to page 54 of the Master Prospectus Key Data Fees, Charges and Expenses The information in relation to Note 1 in the Fees, Charges and Expenses is hereby deleted and replaced with the following: Note 1: There is no switching fee imposed on switching of Units but Unit Holders have to pay the difference of sales charge if Unit Holders wish to switch into another Fund with a higher sales charge. However, no sales charge will be imposed if the Fund to be switched into has lower sales charge than the other Fund. Please refer to pages for details. 17. Amendments to page 55 of the Master Prospectus Key Data Fees, Charges and Expenses The information in relation to the annual management fee and annual trustee fee of Eastspring Islamic Income have been amended as follows: Fund Name Eastspring Islamic Income Annual management fee (% of the NAV per annum) Up to 0.25% ++ Annual trustee fee (% of the NAV per annum) Up to 0.04% subject to a minimum of RM18,000 per annum ## ++ Effective 13 May 2016, the annual management fee for Eastspring Islamic Income will be reduced from 0.50% to 0.25% of the NAV per annum. ## Effective 1 December 2012, the annual trustee fee for Eastspring Islamic Income has been reduced from 0.08% of the NAV per annum subject to a minimum of RM18,000 per annum to 0.04% of the NAV per annum subject to a minimum of RM18,000 per annum. Supplementary Master Prospectus 11

13 18. Amendments to page 57 of the Master Prospectus Key Data Fees, Charges and Expenses The information in relation to the list of expenses related to the Fund in the Fees, Charges and Expenses is hereby deleted and replaced with the following: Only expenses that are directly related and necessary for the operation and administration of the Fund and permitted by the Deed may be charged to the Fund. The list of expenses related to the Fund is set out below: commissions or fees paid to dealers or brokers (where applicable); auditors fee; tax adviser s fee; Shariah adviser s fee (applicable to Shariah-compliant Fund); valuation fee * ; taxes; custodial charges (i.e. foreign sub-custodian charges only); cost of printing the annual and interim reports; independent investment committee member fee; and any other expenses allowed under the Deed. 19. Amendments to page 75 of the Master Prospectus Risk Factors Specific Risks When Investing In A Money Market Fund The information in relation to the interest rate risk is hereby deleted and replaced with the following: Generally, the value of fixed income securities or sukuk will move inversely to interest rate movements. Therefore, the value of fixed income securities or sukuk may fall when interest rates rise and vice versa. Fixed income securities or sukuk of longer duration tend to be more sensitive to interest rate changes. To mitigate interest rate risk, the Manager will manage the duration of the portfolio based on the Manager s view of the trend of future interest rates. (Note: the interest rate mentioned above will have an impact on the management of the Fund, regardless whether it is a Shariah-compliant Fund or otherwise. It does not in any way suggest that the Shariah-compliant Fund will invest in conventional financial instruments. All the investments carried out for the Shariah-compliant Fund are in accordance with the Shariah requirements). * These are fees incurred for the valuation for any investments of the Fund by independent valuers for the benefit of the Fund. 12 Supplementary Master Prospectus

14 20. Amendments to page 76 of the Master Prospectus Risk Factors Specific Risks When Investing In A Bond Fund The information in relation to the interest rate risk is hereby deleted and replaced with the following: Generally, the value of fixed income securities or sukuk will move inversely to interest rate movements. Therefore, the value of fixed income securities or sukuk may fall when interest rates rise and vice versa. Fixed income securities or sukuk of longer duration tend to be more sensitive to interest rate changes. To mitigate interest rate risk, the Manager will manage the duration of the portfolio based on the Manager s view of the trend of future interest rates. (Note: the interest rate mentioned above will have an impact on the management of the Fund, regardless whether it is a Shariah-compliant Fund or otherwise. It does not in any way suggest that the Shariah-compliant Fund will invest in conventional financial instruments. All the investments carried out for the Shariah-compliant Fund are in accordance with the Shariah requirements). 21. Amendments to page 77 of the Master Prospectus Risk Factors Specific Risks When Investing In A Balanced Fund The information in relation to the interest rate risk is hereby deleted and replaced with the following: Generally, the value of fixed income securities or sukuk will move inversely to interest rate movements. Therefore, the value of fixed income securities or sukuk may fall when interest rates rise and vice versa. Fixed income securities or sukuk of longer duration tend to be more sensitive to interest rate changes. To mitigate interest rate risk, the Manager will manage the duration of the portfolio based on the Manager s view of the trend of future interest rates. (Note: the interest rate mentioned above will have an impact on the management of the Fund, regardless whether it is a Shariah-compliant Fund or otherwise. It does not in any way suggest that the Shariah-compliant Fund will invest in conventional financial instruments. All the investments carried out for the Shariah-compliant Fund are in accordance with the Shariah requirements). 22. Amendments to page 78 of the Master Prospectus Risk Factors Specific Risks When Investing In A Balanced Fund The information in relation to the counterparty risk is hereby deleted and replaced with the following: The Fund will be exposed to credit risk of the counterparties with whom the Fund trades with. The Fund may place Deposits or Islamic Deposits and invest in money market instruments or Islamic money market instruments. In the event that the counterparty is not able to fulfil its obligations especially in the event of bankruptcy, this may lead to a loss to the Fund. Counterparty risk may be mitigated by conducting credit evaluation on the counterparty to ascertain the creditworthiness of the counterparty. Supplementary Master Prospectus 13

15 23. Amendments to page 80 of the Master Prospectus Risk Factors Specific Risks When Investing In A Mixed Asset Fund The information in relation to the interest rate risk is hereby deleted and replaced with the following: Generally, the value of fixed income securities or sukuk will move inversely to interest rate movements. Therefore, the value of fixed income securities or sukuk may fall when interest rates rise and vice versa. Fixed income securities or sukuk of longer duration tend to be more sensitive to interest rate changes. To mitigate interest rate risk, the Manager will manage the duration of the portfolio based on the Manager s view of the trend of future interest rates. (Note: the interest rate mentioned above will have an impact on the management of the Fund, regardless whether it is a Shariah-compliant Fund or otherwise. It does not in any way suggest that the Shariah-compliant Fund will invest in conventional financial instruments. All the investments carried out for the Shariah-compliant Fund are in accordance with the Shariah requirements). 24. Amendments to page 80 of the Master Prospectus Risk Factors Specific Risks When Investing In An Equity Fund The information in relation to the security risk is hereby deleted and replaced with the following: Adverse price movements of a particular security or Shariah-compliant security invested by the Fund may adversely affect the Fund s NAV. The Manager strives to mitigate the impact of a particular security or Shariah-compliant security risk through portfolio diversification. Meanwhile investing in equity-related securities such as ADRs, rights and warrants or Shariahcompliant equity-related securities such as Shariah-compliant warrants, where price movement is dependent on the price movement of the underlying equities or Shariah-compliant equities, the risk is generally higher than their underlying equities or Shariah-compliant equities as these equity-related securities or Shariah-compliant equity-related securities are leveraged form of investment. The price of equity-related securities or Shariah-compliant equity-related securities generally fluctuates more than the underlying equities or Shariah-compliant equities and consequently may affect the volatility of the Fund s NAV. To mitigate this risk, the Manager will conduct rigorous fundamental analysis of the underlying equities and equity-related securities or Shariah-compliant equities and equity-related securities. 25. Amendments to page 81 of the Master Prospectus Risk Factors Specific Risks When Investing In An Equity Fund The information in relation to the interest rate risk is hereby deleted and replaced with the following: Generally, the value of fixed income securities or sukuk will move inversely to interest rate movements. Therefore, the value of fixed income securities or sukuk may fall when interest 14 Supplementary Master Prospectus

16 rates rise and vice versa. Fixed income securities or sukuk of longer duration tend to be more sensitive to interest rate changes. To mitigate interest rate risk, the Manager will manage the duration of the portfolio based on the Manager s view of the trend of future interest rates. (Note: the interest rate mentioned above will have an impact on the management of the Fund, regardless whether it is a Shariah-compliant Fund or otherwise. It does not in any way suggest that the Shariah-compliant Fund will invest in conventional financial instruments. All the investments carried out for the Shariah-compliant Fund are in accordance with the Shariah requirements). 26. Amendments to page 88 of the Master Prospectus Risk Factors Specific Risks When Investing In The Target Fund The information in relation to the counterparty risk for M&G Global Basics Fund and M&G Global Leaders Fund has been added as follows: Counterparty risk Applicable only to Eastspring Global Basics and Eastspring Global Leaders The Investment Manager will place transactions, hold positions and place cash on deposit with a range of counterparties (institutions). There is a risk that counterparties may default on their obligations or become insolvent which could adversely affect the net asset value of the Target Fund. 27. Amendments to page 95 of the Master Prospectus Information in Relation to the Fund Eastspring Bond Plus Investment Strategy The information in relation to the 3 rd paragraph of the investment strategy for Eastspring Bond Plus is hereby deleted and replaced with the following: The Fund shall invest in domestic fixed income securities * which are issued by corporations and financial institutions with a minimum credit rating of BBB3 or P2 by RAM, or its equivalent rating by any other domestic rating agencies whilst foreign fixed income securities shall carry a minimum credit rating of BB3 or A-3 by Standard & Poor s, or its equivalent rating by any other global rating agencies. Should the credit rating of the domestic fixed income securities be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected domestic fixed income securities in the market. * domestic fixed income securities refer to the following: a. fixed income securities that are issued and offered in Malaysia; or b. fixed income securities that are issued out of Malaysia and offered in Malaysia; and the issuer is domiciled in Malaysia or out of Malaysia. Supplementary Master Prospectus 15

17 28. Amendments to page 99 of the Master Prospectus Information in Relation to the Fund Eastspring Enhanced Income Investment Strategy The information in relation to the 2 nd paragraph of the investment strategy for Eastspring Enhanced Income is hereby deleted and replaced with the following: The Fund shall invest in fixed income securities with a minimum credit rating of BBB or P2 by RAM, or its equivalent rating by any other domestic rating agencies. Should the credit rating of the fixed income securities be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected fixed income securities in the market. 29. Amendments to page 101 of the Master Prospectus Information in Relation to the Fund Eastspring Dana Wafi Investment Strategy The information in relation to the 2 nd paragraph of the investment strategy for Eastspring Dana Wafi is hereby deleted and replaced with the following: The Fund shall invest in sukuk with a minimum credit rating of BBB3 or P2 by RAM, or its equivalent rating by any other domestic rating agencies. Should the credit rating of the sukuk be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected sukuk in the market. 30. Amendments to page 102 of the Master Prospectus Information in Relation to the Fund Eastspring Dana al-islah Investment Strategy The information in relation to the 2nd paragraph of the investment strategy for Eastspring Dana al-islah is hereby deleted and replaced with the following: The Fund shall invest in sukuk with a minimum credit rating of BBB3 or P2 by RAM, or its equivalent rating by any other domestic rating agencies. Should the credit rating of the sukuk be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected sukuk in the market. 31. Amendments to page 104 of the Master Prospectus Information in Relation to the Fund Eastspring Balanced Fund Investment Strategy The information in relation to the 2 nd paragraph of the investment strategy for Eastspring Balanced is hereby deleted and replaced with the following: The Fund shall invest in fixed income securities with a minimum credit rating of BBB or P2 by RAM, or its equivalent rating by any other domestic rating agencies. Should the credit rating of the fixed income securities be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected fixed income securities in the market. 16 Supplementary Master Prospectus

18 32. Amendments to page 108 of the Master Prospectus Information in Relation to the Fund Eastspring ASEAN al-adiil Investment Strategy The information in relation to the 2 nd paragraph of the investment strategy for Eastspring ASEAN al-adiil is hereby deleted and replaced with the following: The Fund also invests in domestic and/or foreign sukuk issued by corporations, financial institutions and governments of ASEAN member countries which are traded in the ASEAN markets or listed on the ASEAN exchanges. Corporations and financial institutions which issue sukuk shall have their business incorporated in ASEAN member countries. The Fund shall invest in domestic sukuk * which is issued by the corporations and financial institutions shall carry a rating of at least BBB3 or P2 by RAM, or its equivalent rating by any other domestic rating agencies whilst foreign sukuk shall carry a rating of at least BB3 or A-3 by Standard & Poor s or its equivalent rating by any other global rating agencies. However, sukuk issued by governments need not be rated. Should the credit rating of the domestic sukuk be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected domestic sukuk in the market. The Fund s investments may also include Islamic liquid assets. 33. Amendments to page 111 of the Master Prospectus Information in Relation to the Fund Eastspring Dynamic Investment Strategy The information in relation to the 5 th paragraph of the investment strategy for Eastspring Dynamic is hereby deleted and replaced with the following: The Fund may invest in debentures with a minimum credit rating of BBB or P2 by RAM, or its equivalent rating by any other domestic rating agencies. Should the credit rating of the debentures be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected debentures in the market. 34. Amendments to page 113 of the Master Prospectus Information in Relation to the Fund Eastspring Dana Dinamik Investment Strategy The information in relation to the 5 th paragraph of the investment strategy for Eastspring Dana Dinamik is hereby deleted and replaced with the following: The Fund may invest in sukuk with a minimum credit rating of BBB3 or P2 by RAM, or its equivalent rating by any other domestic rating agencies. Should the credit rating of the sukuk be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected sukuk in the market. * domestic sukuk refer to the following: a. sukuk that is issued and offered in Malaysia; or b. sukuk that is issued out of Malaysia and offered in Malaysia; and the issuer is domiciled in Malaysia or out of Malaysia. Supplementary Master Prospectus 17

19 35. Amendments to page 118 of the Master Prospectus Information in Relation to the Fund Eastspring Equity Income Investment Strategy The information in relation to the 2 nd paragraph of the investment strategy for Eastspring Equity Income is hereby deleted and replaced with the following: The Fund shall invest in fixed income securities with a minimum credit rating of BBB or P2 by RAM, or its equivalent rating by any other domestic rating agencies. Should the credit rating of the fixed income securities be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected fixed income securities in the market. 36. Amendments to page 121 of the Master Prospectus Information in Relation to the Fund Eastspring MY Focus Investment Strategy The information in relation to the 7 th paragraph of the investment strategy for Eastspring MY Focus is hereby deleted and replaced with the following: The Fund shall invest in fixed income securities with a minimum credit rating of BBB3 or P2 by RAM, or its equivalent rating by any other domestic rating agencies. Should the credit rating of the fixed income securities be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected fixed income securities in the market. 37. Amendments to page 124 of the Master Prospectus Information in Relation to the Fund Eastspring Asia Pacific ex-japan Target Return Investment Strategy The information in relation to the 1 st paragraph of the investment strategy of Eastspring Asia Pacific ex-japan Target Return is hereby deleted and replaced with the following: The Fund seeks to achieve its objective by investing in equities and equity-related securities, such as ADRs, rights and warrants, which are domiciled in, listed in, and/or have significant operations in the Asia Pacific ex-japan region. Significant operations means where the business derives more than 50% of total group revenue from countries in the Asia Pacific ex-japan region. The calculation would be based on the most recent financial reports released by the companies (e.g. interim and annual reports). For example, the Fund can invest in a company with significant operations in Indonesia but listed on the New York Stock Exchange. 38. Amendments to page 125 of the Master Prospectus Information in Relation to the Fund Eastspring Asia Pacific ex-japan Target Return Asset Allocation The information in relation to the asset allocation of Eastspring Investments Asia Pacific ex-japan Target Return Fund is hereby deleted and replaced with the following: Asset Class % of the Fund s NAV Equities and equity-related securities Minimum of 75% Liquid assets Maximum of 25% 18 Supplementary Master Prospectus

20 39. Amendments to page 128 of the Master Prospectus Information in Relation to the Fund Eastspring Asia Pacific Shariah Equity Investment Strategy The information in relation to the 4 th paragraph of the investment strategy for Eastspring Asia Pacific Shariah Equity is hereby deleted and replaced with the following: The Fund shall invest in sukuk with a minimum credit rating of BBB3 or P2 by RAM, or its equivalent rating by any other domestic rating agencies whilst foreign sukuk shall carry a minimum credit rating of BB3 or A-3 by Standard & Poor s or its equivalent rating by any other global rating agencies. Should the credit rating of the sukuk be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected sukuk in the market. 40. Amendments to page 130 of the Master Prospectus Information in Relation to the Fund Eastspring Dinasti Equity Investment Strategy The information in relation to the 3 rd paragraph of the investment strategy for Eastspring Dinasti Equity is hereby deleted and replaced with the following: Where applicable, the Fund shall invest in sukuk with a minimum credit rating of AA3 or P2 by RAM, or its equivalent rating by any other domestic rating agencies whilst foreign sukuk shall carry a minimum credit rating of BB3 or A-3 by Standard & Poor s or its equivalent rating by any other global rating agencies. Should the credit rating of the sukuk be downgraded by the rating agencies to below the minimum credit rating, the Manager may dispose the affected sukuk in the market. 41. Amendments to page 131 of the Master Prospectus Information in Relation to the Fund Eastspring Dinasti Equity Performance Benchmark The information in relation to the performance benchmark of Eastspring Investments Dinasti Equity Fund is hereby deleted and replaced with the following: The performance benchmark of the Fund is DJIM Greater China Index. Source: Amendments to page 133 of the Master Prospectus Information in Relation to the Fund Eastspring Indonesia Equity MY Performance Benchmark The information in relation to the performance benchmark of Eastspring Investments Indonesia Equity MY Fund is hereby deleted and replaced with the following: The performance benchmark of the Fund is MSCI Indonesia 10/40 Index. Source: Supplementary Master Prospectus 19

21 43. Amendments to page 158 of the Master Prospectus Information in Relation to the Fund The information in relation to the pricing adjustment policy and dilution policy is hereby added as follows: Pricing Adjustment Policy and Dilution Policy Eastspring Asia Select Income and Eastspring Indonesia Equity MY (for the avoidance of doubt, Eastspring Asia Select Income is not a feeder fund) The Target Funds relating to Eastspring Asia Select Income and Eastspring Indonesia Equity MY namely Eastspring Investments Dragon Peacock Fund and Eastspring Investments Indonesia Equity Fund respectively, have a pricing adjustment policy in place. When the policy is adopted, it will affect the net asset value of the Target Funds, which in turn affects the NAV of Eastspring Asia Select Income and Eastspring Indonesia Equity MY. The pricing adjustment policy is a technique designed to protect existing investors from the performance dilution effects they may suffer as a result of transactions by other investors in the Target Funds, by adjusting the NAV accordingly. Under the pricing adjustment policy, large-scale redemptions or subscriptions of Target Funds units result in transaction costs which must be borne by the remaining investors. Please refer to page 173 for detailed explanation of the policy. Eastspring Global Leaders MY and Eastspring Global Basics MY The Target Funds relating to Eastspring Global Leaders MY and Eastspring Global Basics MY namely M&G Global Leaders Fund and M&G Global Basics Fund respectively, have a dilution policy in place. When the policy is adopted, it will affect the net asset value of the Target Funds, which in turn affects the NAV of Eastspring Global Leaders MY and Eastspring Global Basics MY. The dilution policy is a technique designed to protect existing investors from the performance dilution effects they may suffer as a result of transactions by other investors in the Target Funds, by adjusting the NAV accordingly. Under the dilution policy, large-scale redemptions or subscriptions of Target Funds units result in transaction costs which must be borne by the remaining investors. Please refer to page 193 for detailed explanation of the policy. 20 Supplementary Master Prospectus

22 Eastspring Global Emerging Markets The Target Fund relating to Eastspring Global Emerging Markets namely Schroder International Selection Fund Emerging Markets, has a dilution policy in place. When the policy is adopted, it will affect the net asset value of the Target Fund, which in turn affects the NAV of Eastspring Global Emerging Markets. The dilution policy is a technique designed to protect existing investors from the performance dilution effects they may suffer as a result of transactions by other investors in the Target Fund, by adjusting the NAV accordingly. Under the dilution policy, large-scale redemptions or subscriptions of Target Fund s units result in transaction costs which must be borne by the remaining investors. Please refer to page 209 for detailed explanation of the policy. 44. Amendments to page 162 of the Master Prospectus Information in Relation to the Target Fund The information in relation to the Adding value through an active asset allocation process for Eastspring Investments Dragon Peacock Fund is hereby deleted and replaced with the following: Rather than having a fixed asset allocation regardless of market conditions, the Investment Manager will systematically vary the portfolio s investments in China-related and India-related equities, so as to reflect the prevailing market dynamics and valuations and in so doing, add value to a passive long-term strategic asset mix. The long-term strategic asset mix and maximum tactical tilts are as follows: Long-term Strategic Asset Mix: 50% China-related Equities - 50% India-related Equities. Maximum Tactical Tilts: +/- 25% The Investment Manager s asset allocation process is based on examining the following factors in both India and China equity markets: i. Valuations Market valuations relative to history Absolute valuations (price/book, price/earnings, price/cash flow, dividend yield) Earnings yield versus cash/bond yields and equity risk premium ii. iii. Earnings Index earnings forecasts Corporate margins Consensus earnings upgrades/downgrades and earnings revision ratio Stock price performance Country performance Index composition Sector performance Supplementary Master Prospectus 21

23 45. Amendments to page 173 of the Master Prospectus Information in Relation to the Target Fund The information in relation to the Pricing Adjustment Policy for Eastspring Investments Dragon Peacock Fund and Eastspring Investments Indonesia Equity Fund is hereby added as follows: Pricing Adjustment Policy The actual cost of purchasing or selling assets and investments for the Target Fund may however deviate from the latest available price or net asset value used, as appropriate, in calculating the net asset value per share due to duties and charges and spreads from buying and selling prices of the underlying investments. These costs have an adverse effect on the value of the Target Fund and are known as dilution. To mitigate the effects of dilution, the board of directors may, at its discretion, make a price adjustment to the net asset value per share of the Target Fund. Shares will in principle be issued, redeemed and converted on the basis of a single price, i.e., the net asset value per share. However to mitigate the effect of dilution the net asset value per share may be adjusted for any valuation day in the manner set out below depending on whether or not the Target Fund is in a net subscription position or in a net redemption position for such valuation day to arrive at the applicable adjusted price (the Adjusted Price ). Where there is no dealing in the Target Fund or class of the Target Fund on any valuation day, the applicable price will be the unadjusted net asset value per share. The board of directors will retain the discretion in relation to the circumstances under which to make such a price adjustment. As a general rule, the requirement to make a price adjustment will depend upon the net volume of subscriptions, redemptions or conversions of shares in the Target Fund. The board of directors may make a price adjustment if, in its opinion, the existing shareholders (in case of subscriptions or conversions) or remaining shareholders (in case of redemptions or conversions) might otherwise be adversely affected. In particular, the price adjustment may be made where, for example but without limitation: a. the Target Fund is in continual decline (i.e. is experiencing a net outflow or redemptions); b. the Target Fund is experiencing significant levels of net subscriptions or net redemptions relevant to its size; c. the Target Fund is experiencing a net subscription position or a net redemption position on any valuation day; and d. in any other case where the board of directors is of the opinion that the interest of shareholders require the imposition of a price adjustment. The price adjustment will involve adding to, when the Target Fund is in a net subscription position, and deducting from, when the Target Fund is in a net redemption position, the net asset value per share such figure as the board of directors considers an appropriate figure to meet duties and charge and spreads. In particular, the net asset value of the Target Fund will be adjusted (upwards or downwards) by an amount which reflects (i) the estimated fiscal charges, 22 Supplementary Master Prospectus