ACCOUNT OPENING FORM. Source of Funding: Tax Country: 1st 2nd Postal code Country. Source of Funding:

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1 ACCOUNT OPENING FORM For Non-US Individual Investors only You should carefully read the latest explanatory memorandum and any addenda and financial reports of the relevant fund before completing this Account Opening Form (the Form ). Please also note the Account Opening Guide is also part of the Form. Please complete this Form carefully in English using block letters and return this Form to HSBC Institutional Trust Services (Asia) Limited (the Administrator s Agent ) at the address or fax number shown on the right. You must give complete details so we can properly process your application. Capitalised terms not otherwise defined herein shall have the same meanings as in the explanatory memorandum of the relevant fund. Please return this Form to the following address: HSBC Institutional Trust Services (Asia) Limited 17/F Tower 2 & 3, HSBC Centre 1 Sham Mong Road Kowloon, Hong Kong Attention: Transfer Agency (Alternative Products) Telephone: (852) Fax: (852) valuepartners@hsbc.com.hk First Applicant Home Tel: Mobile: Salutation: Mr Mrs Miss Day time Tel: Fax: Last Name: Given Name: Residential Address: (P.O. Box is not acceptable) ID / Passport No.: Nationality:1st 2nd Tax Country: 1st 2nd Postal code Country Date of Birth: DD / MM/ YYYY Mailing Address: (if different) Place of Birth: Occupation: Employer: Business Nature: Job Title: Are you an employee of a Securities and Futures Commission (SFC) licensee? Yes* No *Please provide a Letter of Consent from your current employer agreeing to this subscription. We will not accept your application until we receive the Letter of Consent. Source of Funding: Second Applicant (If applicable) Home Tel: Mobile: Salutation: Mr Mrs Miss Day time Tel: Fax: Last Name: Given Name: Residential Address: (P.O. Box is not acceptable) ID / Passport No.: Nationality:1st 2nd Tax Country: 1st 2nd Postal code Country Date of Birth: DD / MM/ YYYY Mailing Address: (if different) Place of Birth: Occupation: Employer: Business Nature: Job Title: Are you an employee of a Securities and Futures Commission (SFC) licensee? Yes* No *Please provide a Letter of Consent from your current employer agreeing to this subscription. We will not accept your application until we receive the Letter of Consent. Source of Funding: Redemption Payment and Cash Instructions Proceeds of redemption of units/ shares and all cash distributions will be paid directly to the following account unless contrary instructions are given at the time of redemption or distribution, as the case may be. No third party payment will be made. Bank: Name of Account: Bank Address: Account No.: Account Currency: BIC/ IBAN/ SWIFT Code: (if applicable) Corresponding Bank Name and Branch: Ver

2 For Non-US Individual Investors only Regular Publications / Interim Reports and Annual Reports Distributions Mandate I/We would like to receive funds information by: I/We would like to receive fund(s) dividend (if any) in: Regular publications Additional units or shares (default option) Electronic mail English (default option) Cash dividend Mail English Mail Chinese For Joint Applicants only Interim and Annual reports All account related instructions will be given by: Electronic mail English (default option) All of us jointly (default option) Mail English & Chinese Either or all of us Subscription Details Name of Fund / Sub-Fund (the Fund ) Class Investment Amount &Currency Initial charge (internal use) (internal use) (internal use) (internal use) Payment Method Please note all subscription money must originate from an account held by you. By Cheque/ Bank Draft/ Cashier Order Cheque Bank Draft/Cashier Order Cheque/Bank Draft/Cashier order no: Bank name: Amount: HKD Any cheque, bankers draft or cashier order must be in Hong Kong Dollars. Payable to HSBC Institutional Trust Services (Asia) Limited, crossed Account payee only not negotiable and put down Fund s name and your name written on the back. Please bank in the cheques/bankers drafts/cashier orders at a HSBC branch and return a copy of the cheque and bank pay-in-slip with this Form. By Telegraphic Transfer/ RTGS CHATS (net of bank charges) Please state the Fund s name and your name clearly on the remittance advice or bank certification and return a copy with this Form. By Telegraphic Transfer Currency Bank Bank Address Bank Account Account No. HKD HSBC (SWIFT Address: HSBCHKHHHKH) 1 Queen s Road Central Hong Kong HSBC Institutional Trust Services (Asia) Limited Value Partners Subscription accounts USD HSBC Bank New York (SWIFT Address: MRMDUS33) 452 Fifth Avenue New York NY U.S.A. HSBC Institutional Trust Services (Asia) Limited Value Partners Subscription accounts Please refer to the Account Opening Guide for other currencies bank account details, which may be revised by the Manager from time to time. By RTGS CHATS Currency Bank Bank Address Bank Account Account No. USD HSBC (SWIFT Address: HSBCHKHHHKH) 1 Queen s Road Central Hong Kong HSBC Institutional Trust Services (Asia) Limited Value Partners Subscription accounts Acknowledgements and Declarations I/We acknowledge and declare that: (a) I/We have received and read the latest explanatory memorandum (including the addenda, product key facts statements and financial reports, if any) of the Fund and it was provided in a language (English or Chinese) of my/our choice. I was/we were specifically invited to read it, to ask questions and to take independent advice if I/we wish. By subscribing into the units or shares in the Fund, I/we agree to be bound by the latest explanatory memorandum of the Fund (including without limitation the fees payable to the Manager and the fax indemnity clause) and its trust deed or constitutional documents, as amended from time to time and I/we confirm that I/we am/are eligible and qualified to apply for units or shares of the Fund and I/we am/are not or will not be in contravention of the selling restrictions in the explanatory memorandum and will comply with all applicable laws, rules and regulations in connection with my/our purchase of units or shares. Further, I/we confirm that none of the units or shares will be sold, transferred, assigned, novated or disposed of as a result of which there will be contravention of the selling restrictions in the explanatory memorandum of the Fund. Ver

3 For Non-US Individual Investors only (b) I am not/we are not Cayman Islands resident(s). (i) I am not/we are not a U.S. Person (as defined in the explanatory memorandum of the Fund) and I/we will not sell, offer to sell, transfer or deliver, directly or indirectly, the units or shares to a U.S. Person. (ii) I am not /We are not United States persons (as defined in the United States Internal Revenue Code of 1986, as amended (the Code )) and agree to provide the Fund with additional information on request. (iii) I was/we were offered the units or shares outside of the United States and executed and sent this Form from outside of the United States. (c) I/We understand and agree that in order for the Manager, the Trustee, the custodian, the Administrator or any of their affiliates, agents, employees or delegates of the Fund (the Relevant Parties ) to meet their legal and regulatory obligations, their group policies, any request of a public or regulatory authority or pursuant to normal market practice relating to the prevention of fraud, money laundering, terrorism or other criminal activities or the provision of financial and other services to any persons or entities which may be subject to sanctions (collectively Relevant Requirements ), any of the Relevant Parties may take any action including without limitation, (i) checking each prospective holder or redeeming holder against lists of persons, entities or organisations included on any so-called watch list or websites containing this type of information (this checking may be done by automated screening systems); and (ii) intercepting and investigating transactions relating to the Fund (particularly those involving the international transfer of funds) including the source of or intended recipient of funds paid in or out in relation to the Fund and any other relevant information or communications sent to or by the Fund or on the Fund s behalf. In certain circumstances, these actions may delay or prevent the processing of this Form, the settlement of transactions in respect of the Fund or performance of the Relevant Parties obligations generally. The Relevant Parties may in these circumstances refuse this application. None of the Relevant Parties will be liable to me/us or any other person for loss (whether direct or consequential and including without limitation, loss of profit or interest) or damage suffered by any party arising out of or caused in whole or in part by any actions that are taken by the Relevant Parties to comply with the Relevant Requirements (including, without limitation, those actions referred to in this paragraph). (d) As part of the responsibility of the Fund and the Relevant Parties to comply with any applicable anti-money laundering regulations, the Relevant Parties may require detailed verification of my/our identity and the source of the payment of application monies. Attached hereto as Appendix 1: Additional document to be submitted with the Form is a list of documents which all applicant(s) must submit before applications can be processed. The Fund and the Relevant Parties reserve the right to request such information as is necessary to verify the identity of an applicant and the source of the payment. In the event of delay or failure by me/us to produce any information required, the Relevant Parties may refuse to accept the subscription and the subscription money relating to the application and refuse to pay any redemption proceeds. The Relevant Parties may also in their absolute discretion process the subscription or redemption without receiving such further information. None of the Relevant Parties shall be liable to me/us for any loss suffered by me/us as a result of the rejection or delay of any subscription or payment of redemption proceeds. I/We shall indemnify each of the Relevant Parties against any loss resulting from any of them rejecting, delaying, non-processing or processing this application or payment of redemption proceeds. (e) The Relevant Parties may record telephone conversations with me/us and any recordings may be submitted in evidence in any proceedings relating to this application or to the Fund or any service agreements between the Relevant Parties and the Fund. (f) I/We indemnify each of the Relevant Parties and the Fund against any actions, proceedings, claims, loss, liability, cost or expense (including attorneys fees, taxes and penalties) resulting, directly or indirectly, from any misrepresentation or breach of any warranty, condition, covenant or agreement in this Form or in any other documents delivered by me/us to them or out of or in connection with accepting, relying on, acting or failing to act on any instructions given or purported to be given by me/us, unless such is due to their fraud, wilful default or gross negligence. (g) I/We request and authorize the Relevant Parties to act upon instructions by fax and to rely conclusively upon any fax instructions or other instruments believed in good faith to have originated from properly authorized persons. In consideration of their doing so, I/we fully indemnify each of them against any loss, cost or expense which they may incur, directly or indirectly, as a result of any of them acting or failing to act, in their discretion, upon instructions by fax believed in good faith to have originated from properly authorized persons or from the non-receipt or illegibility of instructions faxed by me/us and I/we agree that this authorization remains in force until the Relevant Parties receive a written termination notice and that notice shall be without prejudice to the completion of transactions already initiated. (h) I/We acquire the units or shares for my/our own account and am/are the beneficial owner. (i) All information provided by me/us in this Form is correct. (j) I/We must notify the Administrator s Agent or Trustee or its delegates or affiliates promptly if there is any material change to the information provided and understand that I/we may be obliged to redeem all my/our units or shares in the Fund. (k) I/We hereby confirm that the above acknowledgements and declarations are applicable for each and every subscription/redemption/switching transaction or request I/we make in respect of the Fund. (l) By subscribing the units or shares in the Fund and signing this Form, I/we unconditionally agree to abide by the provisions of this Form. This Form may be modified and/or varied by the Fund or the Manager from time to time by written notice from the Fund or the Manager dispatched at least fifteen (15) days prior to the effective date of such modification and/or variation. I/We shall be deemed to have consented to such modification and/or variation and agreed to abide by the same unless a written objection is given by me/us to the Fund or the Manager before the effective date thereof. (m) I am not/we are not Restricted Person(s) as defined in FINRA Rule 5130 or person(s) otherwise covered under FINRA Rule (n) I/we agree to abide by the terms and conditions of any web site through which my/our investment holdings in the Fund are made available, on acceptance of such terms and conditions by any individual acting on my/our behalf. (o) Tax Certifications: (i) Non-U.S. Status for Foreign Account Tax Compliance Act Purposes. I/We certify that (1) neither I/we have, nor any beneficial owner of the units or shares in the Fund has, any substantial United States owners as defined in Section 1473(2) of the Code (applying the special rule of Section 1473(2)(B) of the Code applicable to investment vehicles including the Fund) and (2) no specified United States person within the meaning of Section 1473(3) of the Code) owns, directly or indirectly, any interest in me/us or any beneficial owner of the units or shares in the Fund. Ver

4 Data For Non-US Individual Investors only (ii) Withholding Obligations. I/We acknowledge, as a person that is not a United States person (within the meaning of the Code), that I/we could be subject to United States withholding tax on a portion of my/our distributive share of the Fund s US source income (if any). (iii) Documentation. I/We agree to provide a duly executed IRS Form W-8BEN, IRS Form W-8BEN-E, or IRS Form W-8IMY, as appropriate, available at I/We agree to promptly notify the Fund, the Manager or their respective authorised agents in the event any information provided therein becomes inaccurate and to update or replace such form in accordance with its terms or subsequent amendments. I/We hereby further agree to supply the Fund and the Manager or their respective authorised agents with such other facts as from time to time are deemed necessary or desirable in order to avoid the loss of a contemplated tax benefit to the Fund or any of its respective unitholders/shareholders. (iv) Foreign Account Tax Compliance Act or Other Applicable Laws. I/We agree at any times upon request by the Fund, the Manager or their respective authorised agents (1) to promptly provide any form, certification or other information reasonably requested by and acceptable to the Fund, the Manager or their respective authorised agents that is necessary (A) to prevent withholding (including, without limitation, any withholding tax required under Sections (referred to as FATCA ) of the Code, or qualify for a reduced rate of withholding or backup withholding in any jurisdiction from or through which the Fund receives payments and/or (B) to satisfy reporting or other obligations under the Code and the United States Treasury Regulations promulgated under the Code, or to satisfy any obligation relating to any applicable law, regulation or any agreement with any tax or fiscal authority in any jurisdiction; (2) to update or replace such form, certification or other information in accordance with its terms or subsequent amendments, or upon a change in circumstances that would render any previously provided form, certification or other information inaccurate or incomplete; and (3) to comply with any reporting obligation imposed by the United States, Hong Kong, the Cayman Islands or any other jurisdiction, including reporting obligations that may be imposed by future legislation. I/We acknowledge that in the event I/we do not provide the requested information and/or documentation, whether or not that actually leads to compliance failures by the Fund or the Manager or the Fund being subject to withholding tax under any applicable law, regulation, fiscal or tax requirements (whether statutory or not) including but not limited to FATCA, the Fund or the Manager on behalf of the Fund reserves the right to take any action and/or pursue all remedies at its disposal including, without limitation, (i) reporting my/our relevant information to the relevant government agency, regulatory authority or tax or fiscal authority including but not limited to the U.S. Internal Revenue Service ( IRS ); (ii) withholding, deducting from my/our account, or otherwise collecting any such tax liability from me/us to the extent permitted by applicable laws and regulations; (iii) deeming me/us to have given notice to redeem all my/our units/shares in the Fund; and/or (iv) bringing legal action against us/me for losses suffered by the Fund as a result of such withholding tax. I/We hereby give consent to the Fund, the Manager or their respective authorised agents, including any of their employees, officers, directors and agents, to disclose or report to any government agency, regulatory authority or tax or fiscal authority in any jurisdiction (including but not limited to the IRS), any information they deem necessary (including but not limited to my/our name, address, tax identification number (if any), social security number (if any) and certain information relating to my/our holdings in the Fund) to enable the Fund to comply with any applicable law or regulation or any agreement with a tax authority (including, but not limited to, any applicable law, regulation or agreement under FATCA). I/We agree that: i. information supplied on this Form and otherwise in connection from time to time with my/our subscription and/or as unitholder(s) / shareholder(s) of the Fund including personal information ( Personal Data ) may be held by the Relevant Parties and will be used for the purposes of processing my/our subscription and investment and completion of information on the Fund s register of holders, and may also be used for the purpose of carrying out my/our instructions or respond to any enquiry purporting to be given by me/us or on my/our behalf, dealing in any other matters relating to my/our investment (including the mailing or ing of reports or notices), forming part of the records of the recipient as to the business carried on by it, observing any legal, governmental or regulatory requirements of any relevant jurisdiction (including any disclosure or notification requirements to which any recipient of the data is subject). All such information may be retained after the termination of the Fund or after my/our units or shares have been transferred or redeemed in accordance with applicable laws. However, failure to supply the relevant information (including personal data) may result in the Administrator, Administrator s Agent, Trustee and/or its delegates/affiliates being unable to accept and/or process my/our application or to provide the related services in connection with my/our application and/or as investor(s) of the Fund or to comply with any laws or guidelines issued by regulatory or other authorities; ii. each of the Fund and the Relevant Parties may disclose to each other, to any affiliate, to any other service provider to the Fund or to any regulatory body in any applicable jurisdiction to which any of the Fund and the Relevant Parties is or may be subject, copies of my/our subscription application/documents and any information concerning me/us in my/our respective possession, whether provided by me/us to the Fund and/or the Relevant Parties or otherwise, including details of my/our holdings in the Fund, historical and pending transactions in my/our units or shares and the values thereof, and any such disclosure shall not be treated as a breach of any restriction upon the disclosure of information imposed on any such person by law or otherwise; iii. each of the Fund and the Relevant Parties may disclose and transfer such information to their legal advisers, auditors and/or other parties including any of their employees, officers, directors, delegates and agents and/or to the ultimate holding company of the Relevant Parties and/or their subsidiaries and/or affiliates or to any third party employed to provide administrative, computer or other services or facilities and/or to any person to whom data is provided or may be transferred as aforesaid and/or to any regulatory authority or governmental body entitled thereto by law, regulation, tax or fiscal requirements (whether statutory or not) in connection with my/our investment in the Fund, who are or may be persons outside Hong Kong; and iv. the Trustee, Administrator, the Administrator s Agent and their delegates/affiliates may process my/our information including personal data (if any) for the purposes of providing services to the Fund, performing the Trustee, Administrator s, the Administrator s Agent s and/or their delegates /affiliates legal and regulatory obligations and conducting financial crime risk management and other activities, including disclosing those data to the Fund and to third parties and transferring them internationally, all as more fully described in the data privacy statement of the Administrator s Agent or the Trustee or their delegates/affiliates a copy of which is available from: The Data Protection Officer HSBC Institutional Trust Services (Asia) Limited 滙豐機構信託服務 ( 亞洲 ) 有限公司 Ver

5 c/o The Hongkong and Shanghai Banking Corporation Limited P.O. Box 72677, Kowloon Central Post Office, Hong Kong For Non-US Individual Investors only Personal Data (For individuals only) I/We confirm that I/We have carefully reviewed and understood the Personal Information Collection Statement set out in Account Opening Guide including that my/our Personal Data may be used by the Fund, the Manager and their respective affiliated companies for direct marketing purposes. Please tick ("") the box below (as appropriate) if you do not wish your Personal Data to be used in direct marketing: I do not wish my/our Personal Data to be used by the Fund, the Manager and their respective affiliated companies for direct marketing purposes. Client Information Statement I/We agree that I/we have completed the Client Information Statement that has been provided to me/us by the Trustee, Administrator s Agent or their delegates or affiliates to meet SFC requirements. The price of units or shares may fluctuate dramatically. The price of units or shares may move up or down and may even become valueless. It is as likely that losses will be incurred rather than profits made as a result of buying and selling units or shares. Past performance does not indicate future performance. Investors should read the latest explanatory memorandum of the Fund and the risk factors in the explanatory memorandum of the Fund before subscribing for units or shares of the Fund. Client assets which may be received or held by the Fund outside Hong Kong are subject to the laws and regulations of the relevant overseas jurisdiction which may be different from the Securities and Futures Ordinance and the rules made under it. Consequently, such client assets may not enjoy the same protection as that conferred on client assets received or held in Hong Kong. 1st Applicant 2nd Applicant (if applicable) Signature: Date: Signature: Date: Third Party Certification: (This part must be complete in respect of mail in application form) I certify that the applicant(s) has/have signed or executed this Form in my presence AND that I have seen the original documentation required of the applicant(s) and have certified by signing on copies of these documents which are enclosed with this Form. Certified this day of. Name: Signature (and corporate seal) of certifier: Position: Company: Registration number (if applicable): Contact number: Address: Appendix 1: Additional document to be submitted with the Form A certified copy of their permanent HKID card / passports or other acceptable identification with photograph, containing the subscribers full name(s), date and place of birth and nationality and (if applicable) name change document Certified evidence of residential and current permanent address (if different), usually provided by way of the bank reference or an original/certified copy of a recent utility bill. Must be less than 3 months old and display full name. P.O. Box is not acceptable. IRS Form W-8BEN (available at Investor Risk Assessment Form (for non-professional Investors) Professional Investor Declaration Letter (for Professional Investors) Knowledge, Expertise and Investment Experience Questionnaire (for Professional Investors) Payment proof: copy of the cheque and bank pay-in-slip or remittance advice/ bank certification Ver

6 Form W-8BEN (Rev. February 2014) Department of the Treasury Internal Revenue Service Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals) For use by individuals. Entities must use Form W-8BEN-E. Information about Form W-8BEN and its separate instructions is at Give this form to the withholding agent or payer. Do not send to the IRS. OMB No Do NOT use this form if: Instead, use Form: You are NOT an individual W-8BEN-E You are a U.S. citizen or other U.S. person, including a resident alien individual W-9 You are a beneficial owner claiming that income is effectively connected with the conduct of trade or business within the U.S. (other than personal services) W-8ECI You are a beneficial owner who is receiving compensation for personal services performed in the United States or W-4 A person acting as an intermediary W-8IMY Part I Identification of Beneficial Owner (see instructions) 1 Name of individual who is the beneficial owner 2 Country of citizenship 3 Permanent residence address (street, apt. or suite no., or rural route). Do not use a P.O. box or in-care-of address. City or town, state or province. Include postal code where appropriate. Country 4 Mailing address (if different from above) City or town, state or province. Include postal code where appropriate. Country 5 U.S. taxpayer identification number (SSN or ITIN), if required (see instructions) 6 Foreign tax identifying number (see instructions) 7 Reference number(s) (see instructions) 8 Date of birth (MM-DD-YYYY) (see instructions) Part II Claim of Tax Treaty Benefits (for chapter 3 purposes only) (see instructions) 9 I certify that the beneficial owner is a resident of within the meaning of the income tax treaty between the United States and that country. 10 Special rates and conditions (if applicable see instructions): The beneficial owner is claiming the provisions of Article of the treaty identified on line 9 above to claim a % rate of withholding on (specify type of income): Explain the reasons the beneficial owner meets the terms of the treaty article:. Part III Certification Under penalties of perjury, I declare that I have examined the information on this form and to the best of my knowledge and belief it is true, correct, and complete. I further certify under penalties of perjury that: I am the individual that is the beneficial owner (or am authorized to sign for the individual that is the beneficial owner) of all the income to which this form relates or am using this form to document myself as an individual that is an owner or account holder of a foreign financial institution, The person named on line 1 of this form is not a U.S. person, The income to which this form relates is: (a) not effectively connected with the conduct of a trade or business in the United States, (b) effectively connected but is not subject to tax under an applicable income tax treaty, or (c) the partner s share of a partnership's effectively connected income, The person named on line 1 of this form is a resident of the treaty country listed on line 9 of the form (if any) within the meaning of the income tax treaty between the United States and that country, and For broker transactions or barter exchanges, the beneficial owner is an exempt foreign person as defined in the instructions. Furthermore, I authorize this form to be provided to any withholding agent that has control, receipt, or custody of the income of which I am the beneficial owner or any withholding agent that can disburse or make payments of the income of which I am the beneficial owner. I agree that I will submit a new form within 30 days if any certification made on this form becomes incorrect. Sign Here Signature of beneficial owner (or individual authorized to sign for beneficial owner) Date (MM-DD-YYYY) Print name of signer Capacity in which acting (if form is not signed by beneficial owner) For Paperwork Reduction Act Notice, see separate instructions. Cat. No Z Form W-8BEN (Rev )

7 For non-professional Investors only VALUE PARTNERS INVESTOR RISK QUESTIONNAIRE APPENDIX 6 This questionnaire is designed to understand your investment objectives, risk appetite and risk tolerance, helping you to identify the investment choices that would be suitable for you. In case of institutional investor (including shell company), the investment decision maker should be completing this form. When there are more than 1 decision maker for the investor, each decision maker should complete a copy of this form and the most conservative one prevails. Part 1 Personal Details Name Occupation Account no Phone Date A1) Age group Under or above 66 A2) Education Primary or below Secondary Post-secondary University or above A3) Total net assets Below HK$100, ,000 HK$100,001 to HK$200, ,001200,000 Including (you can choose multiple) Cash and Deposits Securities A4) Average annual income HK$200,001 to HK$500, ,001500,000 Property Investments (other than home) Others Over HK$500, ,000 Below HK$100,000 HK$100,001 to HK$200, , ,001200,000 Sourced from (you can choose multiple) Salary, Commission & Bonus Profits from Business HK$200,001 to HK$500, ,001500,000 Investments Returns Properties Over HK$500, ,000 Others A5) What is the amount that you plan to invest in our product(s) this time (as a percentage of your total net assets)? <10% <10% 10% to <40% 10%<40% 40% to <70% 40%<70% 70% to <100% 70%<100% 100% or above 100% A6) Do you have general knowledge of derivatives, including the nature and risks? (Note: if the account is a joint account, it applies to either all joint accountholders or the sole investment decision maker for the joint account.) Yes, please specify the means you gained this knowledge (you can choose multiple) Undergone training or attended courses on derivative products offered by: Banks Financial institutions Academic institutions Professional organizations Others Please briefly specify when: Prior trading experience in derivative products (5 or more transactions within past 3 years) Please specify type of products: Current or previous working experience related to derivative products: Type of institution Job nature Licensed corporation (e.g. fund house/broker) Investment/Treasury/Finance Registered institution (e.g. bank) Investment Product Development Regulatory body Investment Product Sales and Marketing Academic institution offering courses on derivatives Trainer of Investment Product Others Others Please briefly specify when: Others, please specify No 1

8 Part 2 Risk Profile Q1) Please choose the most suitable option which best describes your income sources. For non-professional Investors only Stable income (from job, business & investment) Some income, but varies a lot each month Retired and receive stable regular income Retired/unemployed, but savings can support Retired/unemployed, and savings cannot support Q2) On average, your total monthly expenses*, expressed as a % of income, would be: * *Expenses here should include including mortgage payments, credit card payments, etc. (for individuals); or monthly operating costs (for corporation) and other family members financially dependent on you. * <25% <25% 25% to <50% 25%<50% 50% to <75% 50%<75% 75% to <100% 75%<100% 100% or above 100% Q3) How long could you maintain your current standard of living with your liquid assets if you were temporarily to receive no income? <3 months <3 3 months to <1 year 3<1 1 year to <2 years 1<2 2 years to <3 years 2<3 3 years or above 3 Q4) Which of the following best describes your expected income over the next five years? Increase by >10% p.a. >10% Increase by 5% to 10% p.a. 5%10% Increase by <5% p.a. <5% Unchanged May decrease Q5 Q7) Please evaluate your investment experience, activities and product knowledge. Type of products Q5) Years of experience Foreign currency deposit/ NIL Bond <1 year <1 1 to 2 years 12 Over 2 years 2 Mutual funds/unit trusts NIL <1 year <1 1 to <2 years 1<2 2 to 5 years 25 Over 5 years 5 Stocks NIL <1 year <1 1 to <2 years 1<2 2 to 5 years 25 Over 5 years 5 High risk private funds/ NIL Hedge funds/derivatives <1 year <1 1 to <2 years 1<2 2 to 5 years 25 Over 5 years 5 Q6) Transactions per annum NIL <5 < Over NIL <5 < Over NIL <5 < Over NIL <5 < Over Q7) Investment product knowledge No knowledge Little Basic Sufficient No knowledge Little Basic Moderate Substantial No knowledge Little Basic Moderate Substantial No knowledge Little Basic Moderate Substantial Q8) What is your primary goal with this investment? (Please choose the item with most significance) Capital preservation other than deposits with banks Looking for slightly higher return than time deposits while keeping risk exposure to minimal Target at long term capital appreciation and willing to accept short term fluctuations Building up wealth through medium term investments with high growth potential and could bear the risk of losing a portion of principle Expecting to derive significant return within a short period of time and able to take the risk of losing significant portion of investments made 2

9 Q9) What is time horizon of this investment? For non-professional Investors only <6 months <6 6 months to <1 year 6<1 1 year to <3 years 1<3 3 years to <5 years 3<5 5 years or above 5 Q10) Over time, the value of investments can fluctuate (rise and fall). What level of fluctuation would you be comfortable with in general? <5% even I may get a lower return <5% <30% to get a very good return <30% <10% to get an average return <10% 30% or more to maximize return 30% <20% to get a better return <20% Q11) Assume the overall stock market lost 20% of its value during the past year. How would you feel and react if your invested securities also lost 20% of their value? 20%20% Very uncomfortable and sell all securities Uncomfortable and sell some securities Do nothing Try to find opportunity to buy other securities to diversify Definitely buy more securities at the low prices Investor Risk Questionnaire Result (Completed by Value Partners) Derivative knowledge Vulnerable Investor Risk Profile Yes No Yes No Conservative Moderate Balanced Growth Aggressive Risk Level and Implication Risk Profile Conservative Moderate Balanced Growth Aggressive Risk Appetite Low Low to medium Medium Medium to high High Implications The portfolio should primarily be comprising of investments that have low volatility with a goal to generate return comparable to (if not slightly higher than) deposits with banks while preserving the capital. Examples include money market funds, capital preservation/guaranteed/conservative funds. In general, the average annual volatility should be less than 2%. 2% The portfolio should be investing in funds with an average risk exposure slightly higher than those invested by the Conservative profile while a slightly higher average return will be expected. Examples include investment grade global bond funds, global equity funds with diversified sectors/industries and stable funds. In general, the average annual volatility should be around 2-5%. 2-5% The portfolio consists of investments with a balanced views of maximizing returns while minimizing risk exposures. Examples includes balanced funds with combination of equities and bonds, equity funds with regions, industries or sectors focus, bond funds with combination of investment grade and high yield bonds. In general, the average annual volatility should be around 5-10%. 5-10% The primary goal becomes the growth of the portfolio size while risk exposures could be borne to certain level. Examples include single country/sector/industry funds, funds with significant exposures to emerging markets, high yield bond funds and growth funds. In general, the average annual volatility should be around 10-15% % The portfolio will be made up of funds with the highest risk exposures in order to exchange for the highest potential returns. Examples include single country/emerging market funds, absolute return funds, funds with significant level of leverage, hedge funds with aggressive investment strategies. In general, the average annual volatility should be over 15%. 15% 3

10 For non-professional Investors only Customer Acknowledgement I/We understand, acknowledge and agree that: (a) This Investor Risk Questionnaire ( Questionnaire ) is designed and implemented to assist the potential and exiting clients of Value Partners Limited and its group companies (collectively known as VP ) to understand their investment objectives as well as their risk appetite and risk tolerance. VP does not accept any responsibility or liability for any information or use relating to the Questionnaire including its accuracy or completeness and expressly disclaims all liability (except as may not be capable of being excluded by law) for any loss or damage howsoever arising, whether directly or indirectly, from investors or any persons for the use of any information or results of this Questionnaire. (b) Investments involve risks, the prices of investments are exposed to fluctuations and may become valueless. Investors should refer to the relevant offering documents before making any investment decision. The Questionnaire is for information only and does not constitute any advice, recommendation, offer or solicitation to buy or sell. Data and information on past performance are for illustration only and are no guarantee of future returns. (c) VPL has invited me/us to read the Questionnaire including this Customer Acknowledgement, to ask questions and take independent advice if I/we wish. I/We agree and undertake that 1. I/We confirm that all my responses above are correct. 2. I/We fully understand the information and results contained in this Questionnaire, including its meaning and implications. 3. I/We understand that the information provided in this Questionnaire might be used by VP in generating investment recommendations and assessing the suitability of the funds for me. 4. I/We release VPL from all claims, demands and proceedings which I/we may have or claim to have against VP if they are caused by VP s reliance on information provided in this Questionnaire, which contains material omissions, errors or false statements made by me/us. Investor Signature: ID/Passport no: Completed by Value Partners This questionnaire has been reviewed and the terms of Customer Acknowledgement have been explained to the investor. Signature (Staff Name ) Date 4

11 For Category B Professional Investors Only Professional Investors Extracts from SFO and Securities and Futures (Professional Investor) Rules APPENDIX 1 SFO Professional Investors Under Part I of Schedule 1 of the SFO, "professional investor" ( 專業投資者 ) means (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) any recognized exchange company, recognized clearing house, recognized exchange controller or recognized investor compensation company, or any person authorized to provide automated trading services under section 95(2) of this Ordinance; any intermediary, or any other person carrying on the business of the provision of investment services and regulated under the law of any place outside Hong Kong; any authorized financial institution, or any bank which is not an authorized financial institution but is regulated under the law of any place outside Hong Kong; any insurer authorized under the Insurance Companies Ordinance (Cap 41), or any other person carrying on insurance business and regulated under the law of any place outside Hong Kong; any scheme which (i) is a collective investment scheme authorized under section 104 of this Ordinance; or (ii) is similarly constituted under the law of any place outside Hong Kong and, if it is regulated under the law of such place, is permitted to be operated under the law of such place, or any person by whom any such scheme is operated; any registered scheme as defined in section 2(1) of the Mandatory Provident Fund Schemes Ordinance (Cap 485), or its constituent fund as defined in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A), or any person who, in relation to any such registered scheme, is an approved trustee or service provider as defined in section 2(1) of that Ordinance or who is an investment manager of any such registered scheme or constituent fund; any scheme which (i) is a registered scheme as defined in section 2(1) of the Occupational Retirement Schemes Ordinance (Cap 426); or (ii) is an offshore scheme as defined in section 2(1) of that Ordinance and, if it is regulated under the law of the place in which it is domiciled, is permitted to be operated under the law of such place, or any person who, in relation to any such scheme, is an administrator as defined in section 2(1) of that Ordinance; any government (other than a municipal government authority), any institution which performs the functions of a central bank, or any multilateral agency; except for the purposes of Schedule 5 to this Ordinance, any corporation which is (i) a wholly owned subsidiary of (A) an intermediary, or any other person carrying on the business of the provision of investment services and regulated under the law of any place outside Hong Kong; or (B) an authorized financial institution, or any bank which is not an authorized financial institution but is regulated under the law of any place outside Hong Kong; (ii) a holding company which holds all the issued share capital of (A) an intermediary, or any other person carrying on the business of the provision of investment services and regulated under the law of any place outside Hong Kong; or (B) an authorized financial institution, or any bank which is not an authorized financial institution but is regulated under the law of any place outside Hong Kong; or (iii) any other wholly owned subsidiary of a holding company referred to in subparagraph (ii); or any person of a class which is prescribed by rules made under section 397 of this Ordinance for the purposes of this paragraph as within the meaning of this definition for the purposes of the provisions of this Ordinance, or to the extent that it is prescribed by rules so made as within the meaning of this definition for the purposes of any provision of this Ordinance; 1

12 For Category B Professional Investors Only Securities and Futures (Professional Investor) Rules Professional Investors Section 3 of the Securities and Futures (Professional Investor) Rules provides that: For the purposes of paragraph (j) of the definition of "professional investor" in section 1 of Part 1 of Schedule 1 to the Ordinance, the following persons are prescribed as within the meaning of that definition for the purposes of any provision of the Ordinance other than Schedule 5 (a) (b) (c) (d) any trust corporation having been entrusted under the trust or trusts of which it acts as a trustee with total assets of not less than HK$40 million or its equivalent in any foreign currency (i) as stated in the most recent audited financial statement prepared (A) in respect of the trust corporation; and (B) within 16 months before the relevant date; (ii) as ascertained by referring to one or more audited financial statements, (A) in respect of the trust or any of the trusts; and (B) within 16 months before the relevant date; or (iii) as ascertained by referring to one or more custodian statements issued to the trust corporation (A) in respect of the trust or any of the trusts; and (B) within 12 months before the relevant date; any individual, either alone or with any of his associates on a joint account, having a portfolio of not less than HK$8 million or its equivalent in any foreign currency (i) as stated in a certificate issued by an auditor or a certified public accountant of the individual within 12 months before the relevant date; or (23 of 2004 s. 56) (ii) as ascertained by referring to one or more custodian statements issued to the individual (either alone or with the associate) within 12 months before the relevant date; any corporation or partnership having (i) a portfolio of not less than HK$8 million or its equivalent in any foreign currency; or (ii) total assets of not less than HK$40 million or its equivalent in any foreign currency, as ascertained by referring to (iii) the most recent audited financial statement prepared (A) in respect of the corporation or partnership (as the case may be); and (B) within 16 months before the relevant date; or (iv) one or more custodian statements issued to the corporation or partnership (as the case may be) within 12 months before the relevant date; and any corporation the sole business of which is to hold investments and which is wholly owned by one or more individuals or corporations/partnerships where each of those individuals or corporations/partnerships would qualify as a professional investor under paragraph (b) or paragraph (c) above. 2

13 For Category B Professional Investors Only PROFESSIONAL INVESTOR CONSENT LETTER & DECLARATION APPENDIX 3 Date: Dear, Treatment as a Professional Investor As an entity licensed by the Hong Kong Securities and Futures Commission (the SFC ), we are required to comply with the provisions of the Securities and Futures Ordinance ( SFO ) and the terms and conditions of the Code of Conduct for Persons Licensed by or Registered with the Securities and Futures Commission (the Code ). In Hong Kong certain rules and restrictions exist in connection with dealing with investors who are not Professional Investors whether under the SFO or under the Securities and Futures (Professional Investor) Rules. For the purposes of the Sections 174, 175 and Part IV of the SFO, Schedule 17 of the Company Ordinance, you/your company has been classified as a Professional Investor on the basis that you/your Company are one of the following: 1. An individual investor, either alone or with your spouse or children on a joint account, having a portfolio of cash and/or securities of at least HK$8 million (or its foreign currency equivalent). 2. A corporation, whose sole business is to hold investments and which is wholly owned by an individual who, either alone or with his/her spouse or children on a joint account, has a portfolio of cash and/or securities of at least HK$8 million (or its foreign currency equivalent). 3. A corporation or partnership having a portfolio of cash and/or securities of at least HK$8 million (or its foreign currency equivalent) OR total assets of at least HK$40 million (or its foreign currency equivalent). 4. A trust corporation having been entrusted under the trust(s) of which it acts as trustee with total assets of at least HK$40 million (or its foreign currency equivalent). As a consequence of your being classified as a Professional Investor, we will be able to offer you certain investment opportunities which are only available to professional investors, in particular, we can: 1. offer you securities or investment products which are not authorized by the SFC and in relation to which the prospectus requirements under the Companies Ordinance do not apply; 2. make unsolicited calls to you for marketing or recommending securities or futures contracts, or other investment products. In addition, you should be aware that if you are classified as a Professional Investor we will not be required to provide you materials or information in relation to any offer of securities in the form prescribed in section 175 of the SFO. In addition, for the purpose of the Code, you/your company may be treated as a professional investor, meaning that you have sufficient investment knowledge and expertise in relevant products and markets, which may exempt us from having to provide certain information and services to you, and which may exempt you from having to provide certain information to us, that we would ordinarily be required to provide or obtain, as the case may be, in relation to non professional investors. Before we are entitled to treat you as a Professional Investor, we are obliged to give you a written explanation as to the risks and the consequences of being treated as such. If you agree to be treated as a Professional Investor, we will be entitled to assume that you have the appropriate knowledge, understanding and sufficient expertise in relation to the relevant products and markets in relation to which we will be providing you with services. As a result, the level of information and explanation that will be provided to you as a Professional Investor is considerably less than that which would be provided to you were you to be treated as a non professional investor. Furthermore, as a Professional Investor you will be deemed to understand the particular risks attached to investment strategies, financial instruments and investments we make on your behalf. 3

14 For Category B Professional Investors Only Pursuant to the Code, we are required to provide you with details about the information that will not be provided to you by us and to obtain your confirmation that you have no objection to being treated as a Professional Investor. Accordingly, we hereby advise you that, as a consequence of your being treated as a Professional Investor, we will not: (1) enter into a written agreement with you unless we specifically require or you specifically request otherwise; (2) provide you with the standard general risk disclosure statements prescribed in the Code; (3) provide you with information in relation to our company or the identity and status of our employees and others acting on our behalf unless you specifically request such information; (4) confirm promptly with you the essential features of a transaction after effecting it for you; or (5) provide you with contract notes or monthly statements of account in accordance with the Securities and Futures (Contract Notes, Statements of Account and Receipts) Rules (if applicable). Finally, for as long as you are treated as a Professional Investor: (a) you will not be required to provide us with information sufficient for us to establish your financial situation, investment experience and investment objectives; (b) we will not be required to assess your knowledge of derivatives and characterize you based on your knowledge of derivatives; (c) we will not be required to ensure the suitability of any recommendation or solicitation to you; and (d) we will not be required to disclose sales related information including monetary and non monetary benefits in relation to any promotion of funds or products, to you (if any). Notwithstanding paragraph (a) above, you should be aware that you will be required to provide us with documentary evidence sufficient for us to satisfy ourselves that you are a professional investor (within the meaning of paragraph (j) of Part 1 of Schedule 1 to the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and, without limitation, the Securities and Futures (Professional Investor) Rules) promulgated thereunder. You therefore need to be categorized into one of the four groups below and then provide us with the verification documentation indicated for that group. Please check that we have categorized you into the right group and indicate which specific verification documentation you will be providing. Financial Status You confirm that you are a person the group indicated (please select one only): 1 A high net worth individual investor, either alone or with your spouse or children on a joint account, having a portfolio of cash and/or securities of at least HK$8 million (or its foreign currency equivalent) 2 A corporation or partnership having a portfolio of cash and/or securities of at least HK$8 million (or its foreign currency equivalent) OR total assets of at least HK$40 million (or its foreign currency equivalent). 3 A corporation whose sole business is to hold investments and which is wholly owned by one or more individuals/ corporations/partnerships described in 1 or 2 above. Supporting Documents Please provide the following documents / information: Certificate issued by auditor or certified public accountant within previous 12 months; OR One or more custodian statements issued within previous 12 months; OR No additional supporting document is needed as current investment in the Value Partners already exceed the specified amount (Account no: ); Most recent audited financial statement issued within previous 16 months; OR One or more custodian statements issued within previous 12 months; OR No additional supporting document is needed as current investment in the Value Partners already exceed the specified amount (Account no: ); Evidence to demonstrate the wholly owned relationship between the client corporation and the individuals/corporations/partnerships, e.g. company annual return, share register, etc.; AND current investment in the Value Partners already exceed the specified amount (Account no: ); OR Certificate issued by the auditor(s) or certified public accountant(s) or the individuals/ corporations/partnerships within previous 12 months; OR One or more custodian statements issued to the individuals/ corporations/partnerships within previous 12 months. 4

15 4 A trust corporation having been entrusted under the trust(s) of which it acts as trustee with total assets of at least HK$40 million (or its foreign currency equivalent). For Category B Professional Investors Only Most recent audited financial statements issued within previous 16 months; OR One or more audited financial statements, each being the most recent audited financial statement, prepared in respect of the trust or any of the trusts issued within previous 16 months; OR One or more custodian statements issued to the trustee in respect of the trust or any of the trusts within previous 12 months; OR No additional supporting document is needed as current investment in the Value Partners already exceed the specified amount (Account no: ); Please note that you have the right to withdraw from being treated as a Professional Investor in respect of all products or markets or any part thereof at any time during the course of your relationship with us. If you wish to change your status at any time, you must advise us in writing and we will arrange for the necessary documentation to be prepared / provided in compliance with the Code. If you have no objection to the terms upon which we propose to deal with you as a Professional Investor, please sign and return the enclosed duplicate copy of this letter as declaration to that effect. Finally, under the Code, if you agree to be treated as a Profession Investor, we are required to carry out a declaration exercise annually to enable us to ensure that you continue to fulfil the requisite requirements in terms of portfolio size/amount of assets, so please note that we will need to verify this information with you again on an annual basis. Yours faithfully, Value Partners Limited DECLARATION I/We, [ ], acknowledge receipt of your letter dated [ ] and confirm that: 1. in relation to the products and markets in relation to which Value Partners Limited will be providing us services, I/we: have experience in trading those types of funds / products have frequently trading in relevant investments and markets (i.e. traded not less than 40 relevant investment transactions in the previous 12 months) have at least 2 years dealing experience in the relevant market(s) are aware of the risks involved in trading in the relevant market(s) 2. the consequences of consenting to being treated as a Professional Investor and the right to withdraw from being treated as such have been fully explained to me/us; 3. I/we have no objection to being treated as a Professional Investor in accordance with the provisions of the Code as described therein; 4. I/we understand that I/we have the right to withdraw from being treated as such at any time but confirm that it is our current wish that we be treated as a Professional Investor. For corporate investor use For individual investor (Name: ) Position: Authorised signatory for and on behalf of Date: or (Name: ) Date: 5

16 For Category B Professional Investors Only PROFESSIONAL INVESTOR KNOWLEDGE, EXPERTISE AND INVESTMENT EXPERIENCE QUESTIONNAIRE APPENDIX 5 1. Personal Details Name: Date: Age group: Under or above Education: Secondary Postsecondary University Post Graduate Others Employment status: Employed Employer: Occupation: Self employed Nature of business: Retired Position: Others Please specified: 2. Types of funds / products and markets you wish to invest 3. Investment Experience and Knowledge a) Have you previously invested with Value Partners? Yes No Please specified: b) Have you previously invested in the types of funds / products specified in Question 2? Yes No c) Do you understand the nature and risks involved with the types of funds / products specified in Question 2? Yes No d) Do you have any investment professional reviewing your investments? Yes No e) Please complete your investment experience and investment knowledge Type of Years of Transactions Average size of transaction Product products Stocks Mutual funds / unit trusts Exchangetraded funds Hedge funds experience NIL 1 to 2 years 2 to 5 years Over 5 years NIL 1 to 2 years 2 to 5 years Over 5 years NIL 1 to 2 years 2 to 5 years Over 5 years NIL 1 to 2 years 2 to 5 years Over 5 years per annum Less than Over 40 Less than Over 40 Less than Over 40 Less than Over 40 Less than HK$100,000 Over HK$100,000 to HK$1,000,000 Over HK$1,000,000 to HK$5,000,000 Over HK$5,000,0000 Less than HK$100,000 Over HK$100,000 to HK$1,000,000 Over HK$1,000,000 to HK$5,000,000 Over HK$5,000,0000 Less than HK$100,000 Over HK$100,000 to HK$1,000,000 Over HK$1,000,000 to HK$5,000,000 Over HK$5,000,0000 Less than HK$100,000 Over HK$100,000 to HK$1,000,000 Over HK$1,000,000 to HK$5,000,000 Over HK$5,000,0000 knowledge No knowledge Basic Moderate Substantial No knowledge Basic Moderate Substantial No knowledge Basic Moderate Substantial No knowledge Basic Moderate Substantial 6

17 For Category B Professional Investors Only Customer Acknowledgement I//We understand, acknowledge and agree that: (a) This Questionnaire is designed and implemented to assist the potential and exiting clients of Value Partners Limited and its group companies (collectively known as VP ) to understand whether they are qualified to be treated as PI. VP does not accept any responsibility or liability for any information or use relating to the Questionnaire including its accuracy or completeness and expressly disclaims all liability (except as may not be capable of being excluded by law) for any loss or damage howsoever arising, whether directly or indirectly, from investors or any persons for the use of any information or results of this Questionnaire. (b) Investments involve risks, the prices of investments are exposed to fluctuations and may become valueless. Investors should refer to the relevant offering documents before making any investment decision. The Questionnaire is for information only and does not constitute any advice, recommendation, offer or solicitation to buy or sell. Data and information on past performance are for illustration only and are no guarantee of future returns. (c) VPL has invited me/us to read the Questionnaire including this Customer Acknowledgement, to ask questions and take independent advice if I/we wish. I/we agree and undertake that: 1. I/We confirm that all my responses above are correct. 2. I/We fully understand the information and results contained in this Questionnaire, including its meaning and implications. 3. I/We understand that the information provided in this Questionnaire might be used by VP in assessing whether I/.we are qualified to be treated as PI. Upon receipt of consents from me/us by VP to be treated as PI, I/we will be treated as PI and the waivers prescribed by the SFC s Code of Conduct will be applied on me/us. 4. I/We release VP from all claims, demands and proceedings which I/we may have or claim to have against VP, if they are caused by VP s reliance on information provided in this Questionnaire, which contains material omissions, errors or false statements made by me/us. Investor Signature: ID/Passport no: Completed by Value Partners This questionnaire has been reviewed and the terms of Customer Acknowledgement have been explained to the investor. Signature Date (Staff Name ) 7

18 ACCOUNT OPENING GUIDE Please note this is part of the Account Opening Form, you should carefully read through this document before completing the Account Opening Form. Contents 1. Know Your Customer Requirements Checklist Pg. 1 For Individuals For Corporations For Partnerships For Trusts For Investment Vehicles For Nominees 2. Payment Method and Account Details Pg Redemption Payment and Cash Instructions Pg Points to Note Pg Third Party Certification Pg Personal Information Collection Statement Pg.12 (Only applicable to subscribers who are individuals) 7. Subscription Representations Pg. 14 (For Singapore investors only) 8. Singapore Wrapper for Value Partners funds Pg. 16 (For Singapore investors only) Value Partners Classic Fund Value Partners High-Dividend Stocks Fund Value Partners Intelligent Fund - China Convergence Fund Value Partners Intelligent Fund - Chinese Mainland Focus Fund Value Partners China Greenchip Fund Limited Value Partners Taiwan Fund Value Partners Greater China High Yield Income Fund Value Partners China A-Share Select Fund Ver

19 1. KNOW YOUR CUSTOMER REQUIREMENTS CHECKLIST Ver

20 Ver

21 Ver

22 Ver

23 Ver

24 Ver

25 2. PAYMENT METHOD AND ACCOUNT DETAILS All subscription money must originate from an account held by the applicant. Money shall be paid within 3 business days after placing subscription order. Unless the applicant has made arrangements with the Administrator, the Administrator s Agent, the Trustee or its delegates or affiliates and/or the Manager to make payment for subscription in some other currency, payment for subscription net of any bank charges must be made in the class currency of the relevant class of shares/units. 1. Cheque/ bank draft / cashier order Any cheque, bank draft or cashier order must be in Hong Kong Dollars. Payable to HSBC Institutional Trust Services (Asia) Limited (crossed ACCOUNT PAYEE ONLY NOT NEGOTIABLE ) with the Fund s name and your name written on the back. Applicant should bank in the cheques/bank drafts/cashier orders at a HSBC branch and return a copy of the cheque and bank pay-in-slip with the Account Opening Form. 2. Telegraphic Transfer /RTGS CHATS (net of bank charges) Applicant must state the Fund s name and his name clearly on the remittance advice or bank certification and return a copy with the account opening document or the subscription form. Bank account details: Telegraphic Transfer Currenc Bank Bank Address Bank Account Account No. y AUD HSBC Australia (SWIFT Address: HKBAAU2S) HSBC Centre, 580 George Street, Sydney NSW 2000, Australia HSBC Institutional Trust Services (Asia) Limited AFS Subscription Account CAD HKD JPY NZD Correspondence Bank: HSBC Bank Canada (SWIFT Address: HKBCCATT) Beneficiary Bank: HSBC Hong Kong (SWIFT Address HSBCHKHHGCC) HSBC (SWIFT Address: HSBCHKHHHKH) HSBC Tokyo (SWIFT Address HSBCJPJT) HSBC Auckland (SWIFT Address: HSBCNZ2A) Toronto, Canada 1 Queen s Road Central Hong Kong Beneficiary A/C name: HSBC Institutional Trust Services (Asia) Limited TP Subscription Account Add: 6/F Tower 2 & 3 HSBC Centre 1 Sham Mong Road Kowloon, Hong Kong HSBC Institutional Trust Services (Asia) Limited Value Partners Subscription accounts HSBC Institutional Trust Services (Asia) Limited AFS Subscription Account HSBC Institutional Trust Services (Asia) Ltd AFS Subscription Account Beneficiary Bank A/C No.: Beneficiary A/C No.: HSBC Building 11-1, Nihonbashi 3-Chome, Chuo-Ku, Tokyo , Japan HSBC House Level 9, One Queen Street, Auckland, 1010, New Zealand Ver

26 USD SGD EUR GBP RMB HSBC Bank New York (SWIFT Address: MRMDUS33) HSBC Singapore (SWIFT Address: HSBCSGSG) HSBC London SWIFT Address: MIDLGB22 IBAN No. : GB81MIDL HSBC London SWIFT Address: MIDLGB22 IBAN No. : GB15MIDL HSBC (SWIFT Address: HSBCHKHHHKH) 452 Fifth Avenue New York NY U.S.A. 21, Collyer Quay, Singapore Poultry, London EC2P 2BX, UK Poultry, London EC2P 2BX, UK 1 Queen s Road Central Hong Kong HSBC Institutional Trust Services (Asia) Limited Value Partners Subscription accounts HSBC Institutional Trust Services (Asia) Limited AFS Subscription Account HSBC Institutional Trust Services (Asia) Limited-AFS Subscription Account HSBC Institutional Trust Services (Asia) Limited-AFS Subscription Account HSBC Institutional Trust Services (Asia) Ltd. - AP RMB Pool Subscription Account By RTGS CHATS Currency Bank Bank Address Bank Account Account No. USD HSBC (SWIFT Address: HSBCHKHHHKH) 1 Queen s Road Central Hong Kong HSBC Institutional Trust Services (Asia) Limited Value Partners Subscription accounts Ver

27 3. REDEMPTION PAYMENT AND CASH INSTRUCTIONS 1. Proceeds of redemption of units or shares and all cash distributions (if so selected in the section Distributions Mandate ) paid directly to the applicant s bank account unless contrary instructions are given by applicant at the time of redemption or distribution, as the case may be. This instruction applies to all units or shares acquired at any time. 2. If the account is in a currency different to the currency in which the units or shares being redeemed are denominated, I/we authorise the Manager, the Trustee, its delegates or affiliates, the custodian, the Administrator s Agent or the registrar s agent of the Fund to make the currency exchange, and to deduct the foreign exchange conversion costs, bank charges and telegraphic transfer costs from the redemption proceeds. 3. Redemption proceeds will be paid to an account held in the name of the subscriber. No redemption proceeds will be paid to third party. 4. Please complete all information in the Account Opening Form to enable timely and accurate payment. BIC and IBAN codes must be provided where you have requested payment in Euro/GBP/CHF. In the case of incomplete information, we shall effect payment in our best endeavour. None of the Fund, the Manager, the Trustee, the Administrator, the Administrator s Agent or their delegates or affiliates accepts any responsibility for any loss or delay caused by incomplete / incorrect bank account details. 5. Redemption money will not be paid until the Manager, the Trustee, the Administrator and/or the Administrator s Agent or their delegates or affiliates of the Fund receive the duly signed written redemption request and all other supporting documents, if required. Ver

28 4. POINTS TO NOTE 1. Value Partners Limited (CE registration number ABN759) and Value Partners Hong Kong Limited (CE registration number AFJ002) are both licensed under the Hong Kong Securities and Futures Ordinance to carry on regulated activities of dealing in securities, advising on securities, advising on futures contracts and asset management, in Hong Kong. The Administrator s Agent or the Trustee or their delegates or affiliates will notify investors if there is any material change to its contact details, or in the information in this paragraph. 2. The Manager may arrange a personal interview with you before accepting your application. 3. For units or shares to be in joint names, each investor must sign and supply names and addresses in the Account Opening Form. 4. A corporation must execute the Account Opening Form under the hand of a duly authorized official who should state his representative capacity together with a company chop or seal. 5. All individual investors have the right to access to, and to update, all their records (whether held on computer files or manually) held by the Manager or the Administrator s Agent or the Trustee or their delegates or affiliates. If you request a copy of this record in writing to the Administrator s Agent or the Trustee or its delegates or affiliates at the address set out in the explanatory memorandum of the Fund, the Administrator s Agent or the Trustee or its delegates or affiliates will provide them upon the payment of a modest administration charge to cover costs for complying with the requests. 6. Please send the original of this initial application to the Administrator s Agent or the Trustee or its delegates or affiliates at the address shown in the Account Opening Form. You may send any subsequent subscription, redemption or switching of units or shares to the Administrator s Agent or the Trustee or its delegates or affiliates either in original or by fax. The Administrator s Agent or the Trustee or its delegates or affiliates may, in its absolute discretion, decide whether or not the original instruction is also required in respect of subsequent applications sent by fax. The Administrator s Agent or the Trustee or its delegates or affiliates is free to act on receipt of the fax or wait for the original in its absolute discretion. 7. Where documents are not in English, a notarised translation is required. 8. The Account Opening Form is governed and interpreted by the laws of Hong Kong and the courts of Hong Kong are the initial forum for the administration of the Fund. 9. If the explanatory memorandum (including the addenda, if any) of the Fund and the Account Opening Form are inconsistent, the explanatory memorandum of the Fund prevails. 10. No redemption payment will be made from an investor holding until all required documentation has been received by the Trustee or its delegates or affiliates, the Administrator and/or the Administrator s Agent to their satisfaction for anti-money laundering purpose. Ver

29 5. THIRD PARTY CERTIFICATION You must verify your identity by: 1. signing the Account Opening Form in the presence of a licensed employee of the Manager; or 2. getting a third party to witness your signature by completing the below third party certification block and certify by separately signing on one copy of the required documentation specified in the following section against production of the original documents. The third party certifier can be an independent suitable certifier, such as lawyer, accountant, notary public, member of the judiciary or director or manager of a regulated credit or financial institution in a jurisdiction that is a FATF member. The certifier should sign and date the copy document (printing his/her name clearly in capitals underneath) and clearly indicate his/her position or capacity, together with a contact address and phone number. The certifier must indicate that the document is a true copy of the original and that the photo is a true likeness of the individual. Where documents are not in English, a notarised translation is required. The subscription request will not be processed until the cheque is cleared and the third party certification procedures are completed. Sample: Certified by Notary Public COPY Certified True Copy of the Original Peter Chan [Name] Peter Chan [Capacity] Notary Public State of New York [License No.] No [Date] 1 January 2014 Ver