R&I Fund Award 2018

NEWS RELEASE

Apr 23, 2018

R&I Announces Winners of "R&I Fund Award 2018"

Rating and Investment Information, Inc. (R&I) has announced winners of "R&I Fund Award 2018" (supported by Nikkei Inc.) for investment trust-related categories. This year, in response to the promotion of long-term investment as “TSUMITATE NISA” by Financial Services Agency, R&I has established "Investment Trusts/20-year Category" which evaluates the super long-term investment performance for the past 20 years. By utilizing its current quantitative approach, R&I acknowledges funds, investment strategies and so forth that showed excellent performance in each category of investment trusts, iDeCo & DC, NISA and defined benefit pension. Winners are selected in a non-discretionary process from an independent point of view, and as such, the Award is widely recognized by many asset managers and related parties. (Winners for the Defined Benefit Pension Category will be announced around mid or late May.)

Award Categories & Subcategories and a List of Winners

[Investment Trusts/Aggregate Category] Category Prize Fund Manager

The First Prize SBI Asset Management Co., Ltd Japanese Equity Fund Asset Management One Co., Ltd. Aggregate The Second Prize SPARX Asset Management Co., Ltd.

The First Prize UBS Asset Management (Japan) Ltd Global Equity Fund AllianceBernstein Japan Ltd. Aggregate The Second Prize Goldman Sachs Asset Management Co., Ltd.

The First Prize Deutsche Asset Management (Japan) Limited Global Bond Fund Sompo Japan Nipponkoa Asset Management Co.,Ltd. Aggregate The Second Prize HSBC Global Asset Management (Japan) K.K.

The First Prize Sompo Japan Nipponkoa Asset Management Co.,Ltd. Mixed Asset Fund Shinkin Asset Management Co., Ltd. Aggregate The Second Prize Nikko Asset Management Co., Ltd. [Investment Trusts/20-year Category] Category Prize Fund Name Fund Manager

The First Prize Hybrid Selection Asset Management One Co., Ltd. Japanese Schroder Investment Management (Japan) Schroder Nihon Fund Equity Fund The Second Prize Limited Nikko Capital Open Fund Nikko Asset Management Co., Ltd. Japanese Mid The First Prize INVESCO OTC Growth Open Invesco Asset Management (Japan) Limited and Small Caps Equity Mitsubishi UFJ Kokusai Asset Management The Second Prize J Open (OTC Small Cap Stock) Fund Co., Ltd.

Rating and Investment Information, Inc. TERRACE SQUARE, 3-22 Kanda Nishikicho, Chiyoda-ku, Tokyo 101-0054, Japan Investment Fund Business Dept. TEL. 03-6273-7309 FAX. 03-6273-7925 https://www.r-i.co.jp/index.html E-MAIL [email protected] ©Rating and Investment Information, Inc. NEWS RELEASE [Investment Trusts/10-year Category] Category Prize Fund Name Fund Manager SPARX NEW GLOBAL BLUE CHIP JAPANESE The First Prize SPARX Asset Management Co., Ltd. EQUITY FUND Japanese Monex Nihon Growth Stock Fund Asset Management One Co., Ltd. Equity Fund The Second Prize Sumitomo Mitsui Asset Management Company, Sumitomo Mitsui Active Senior Life Open Limited Japanese Mid The First Prize DIAM small cap fund Asset Management One Co., Ltd. and Small SBI Small/Mid Cap Growth And Value Equity Fund J SBI Asset Management Co., Ltd Caps Equity The Second Prize Revive（J Revive） DAIWA SUMIGIN JAPAN SMALL CAP EQUITY Fund Daiwa SB Investments Ltd. FUND

Japanese The First Prize DLIBJ Bond Open (Middle) Asset Management One Co., Ltd. Bond Fund The Second Prize Meiji Yasuda Japanese Bond Fund Meiji Yasuda Asset Management Company Ltd.

The First Prize SAISON SHISAN KEISEI TATSUJIN FUND SAISON ASSET MANAGEMENT CO.,LTD Global Equity Global Value Open Nomura Asset Management Co.,Ltd. Fund The Second Prize Arigato Fund Arigato Asset Management Inc.

The First Prize AllianceBernstein Global High Income Open A AllianceBernstein Japan Ltd. Global Bond Fidelity Strategic Income Fund B Course FIL Investments(Japan)Limited Fund The Second Prize GS GLOBAL FIXED INCOME OPEN B Goldman Sachs Asset Management Co., Ltd. GS GLOBAL FIXED INCOME OPEN C Global Bond The First Prize Goldman Sachs Asset Management Co., Ltd. GS GLOBAL FIXED INCOME OPEN A JPY Hedged Fund The Second Prize Goldman Sachs Global Fixed Income Fund (Mona Lisa) Goldman Sachs Asset Management Co., Ltd. [Investment Trusts Category] Category Prize Fund Name Fund Manager

The First Prize Monex Nihon Growth Stock Fund Asset Management One Co., Ltd. Japanese MHAM Japan Growth Stock Open Asset Management One Co., Ltd. Equity Fund The Second Prize Women Supporter Fund Daiwa Asset Management Co. Ltd.

Japanese Mid The First Prize Emerging Growth Stocks Fund Meiji Yasuda Asset Management Company Ltd. and Small Small/Mid Cap Growth Equity Fund -Next Japan-（J SBI Asset Management Co., Ltd Caps Equity The Second Prize Next） Fund MHAM Emerging Growth Stock Open Asset Management One Co., Ltd.

Japanese ESG The First Prize Women Supporter Fund Daiwa Asset Management Co. Ltd. Equity Fund ASAHI LIFE SOCIALLY RESPONSIBLE The Second Prize Asahi Life Asset Management Co., Ltd. INV ESTMENT FUND The First Prize SB JAPAN BOND FUND Daiwa SB Investments Ltd. Japanese Meiji Yasuda Japanese Bond Fund Meiji Yasuda Asset Management Company Ltd. Bond Fund The Second Prize Mitsubishi UFJ Kokusai Asset Management MUAM Japan Government Bond Fund Co., Ltd. The First Prize UBS (JP) Multi-Technology Fund UBS Asset Management (Japan) Ltd Global Equity SAISON SHISAN KEISEI TATSUJIN FUND SAISON ASSET MANAGEMENT CO.,LTD Fund The Second Prize Kokusai Morgan Stanley Global Premium Stock Open Mitsubishi UFJ Kokusai Asset Management Not Hedged Co., Ltd. netWIN Goldman Sachs Internet Toalkeeper Fund (non The First Prize Goldman Sachs Asset Management Co., Ltd. North headge) AllianceBernstein U.S. Growth Stock Fund B American AllianceBernstein Japan Ltd. AllianceBernstein U.S. Growth Stock Fund D Equity Fund The Second Prize US NASDAQ Open B Course Nomura Asset Management Co.,Ltd.

Category Prize Fund Name Fund Manager

European The First Prize Fidelity European Smaller Companies Open B FIL Investments(Japan)Limited Equity Fund The Second Prize Fidelity Europe Fund FIL Investments(Japan)Limited Sumitomo Mitsui Asset Management Company, The First Prize Australian Dividend Yield Equity Fund Limited Australia and LM Australian High Dividend Equity Fund (Monthly New Zealand Distribution Type) Legg Mason Asset Management (Japan) Co., The Second Prize Equity Fund LM Australian High Dividend Equity Fund (Semi- Ltd. Annual Distribution Type)

The First Prize Shinsei Fullerton V PIC Fund Shinsei Investment Management Co., Ltd. Asia Equity Multi-country Baring Asia Manufacturing Fund Barings Japan Limited Fund The Second Prize JPM Asian Equity Active Open JPMorgan Asset Management (Japan) Ltd.

The First Prize NIKKO UBS (JP) China A Share Fund UBS Asset Management (Japan) Ltd China Equity UBS (JP) China Equity Fund UBS Asset Management (Japan) Ltd Fund The Second Prize China Road Okasan Asset Management Co., Ltd. Sumitomo Mitsui Asset Management Company, The First Prize High Growth India Midcap Equity Fund Limited India Equity Nomura Asia Series (Nomura India Focus) Nomura Asset Management Co.,Ltd. Fund The Second Prize Shinsei UTI India Fund Shinsei Investment Management Co., Ltd. Resona DWS BRIC Extensive Plus （Resona BRICs The First Prize Deutsche Asset Management (Japan) Limited Emerging Plus） Schroder Investment Management (Japan) Equity Multi- Schroder BRICs Equity Fund Limited regional Fund The Second Prize JPM BRICS5 Fund JPMorgan Asset Management (Japan) Ltd.

Brazil and The First Prize Daiwa Brazil Stock Fund Daiwa Asset Management Co. Ltd. Latin America BNP PARIBAS ASSET MANAGEMENT Japan Equity Fund The Second Prize BNP Paribas Brazilian Fund ＜Equity Type＞ Limited Russia and The First Prize Amundi Russia Eastern Europe Equity Fund Amundi Japan, Lｔｄ. Eastern Europe Equity The Second Prize Deutsche Russia Eastern Europe Equity Fund Deutsche Asset Management (Japan) Limited Fund Mitsubishi UFJ Kokusai Asset Management The First Prize Mitsubishi UFJ Global Eco Water Fund Global Co., Ltd. Infrastructure JPM Railway Related Equity Fund JPMorgan Asset Management (Japan) Ltd. The Second Prize Equity Fund Aberdeen Standard Investments (Japan) Nikko Aberdeen Infrastructure Fund Limited

Mitsubishi UFJ Kokusai Asset Management Global The First Prize Global Resources Equity Fund Co., Ltd. Natural Resources Natural Resources Equity Fund Currency Selection Equity Fund The Second Prize Series (Monthly Dividend Payment Nikko Asset Management Co., Ltd. Type)

Global Health- The First Prize Medical Science Fund Asset Management One Co., Ltd. care and Biotechnology Equity Fund The Second Prize Pictet Biopharma Fund(Non-Hedge) Pictet Asset Management (Japan) Ltd.

The First Prize AllianceBernstein Global High Income Open A AllianceBernstein Japan Ltd. Global Bond TMR Global Hybrid Securities Fund (USD Course) TOKIO MARINE ASSET MANAGEMENT Fund The Second Prize Monthly Type CO.,LTD. Amundi US Euro Investment Grade Bond Fund Amundi Japan, Lｔｄ. （Resona Pair Income）

Category Prize Fund Name Fund Manager

Nissay Global Hybrid Security Strategy Fund（Monthly The First Prize Nissay Asset Management Corporation Global Bond Settlement Type ・ Yen Hedged Course) JPY Hedged Fidelity Strategic Income Fund A Course FIL Investments(Japan)Limited Fund The Second Prize Hybrid Securities Fund Yen Course Asset Management One Co., Ltd.

The First Prize U.S.Preferred Securities Open Nomura Asset Management Co.,Ltd. North American T.ROWE PRICE US INCOME FUND Daiwa SB Investments Ltd. Bond Fund The Second Prize Nissay/Putnam Income Open Nissay Asset Management Corporation The First Prize Daiwa AUD Hybrids & Corporate Bond Fund Daiwa Asset Management Co. Ltd. Mitsubishi UFJ Kokusai Asset Management MUAM AMP Australia High Income Bond Fund Co., Ltd. Australia and Mizuho Australian Dollar Bond Fund (Annual New Zealand The Second Prize Distribution) Bond Fund Mizuho Australian Dollar Bond Fund Asset Management One Co., Ltd. MHAM Australian Dollar Bond Fund (Monthly Distribution)

The First Prize Frontier World Income Fund Asset Management One Co., Ltd. Emerging Mitsubishi UFJ Kokusai Asset Management Bond Multi- Kokusai Emerging Sovereign Open (1M)/(1Y) The Second Prize Co., Ltd. regional Fund Nikko PIMCO High Income Sovereign Fund Monthly Nikko Asset Management Co., Ltd. Dividend Payment Type (US Dollar course) Daiwa Brazil Real Bond Open (Monthly Settlement The First Prize Daiwa Asset Management Co. Ltd. Brazil and Type) Resona Brazil Sovereign Fund (Monthly Settlement Latin America Daiwa Asset Management Co. Ltd. Type) Bond Fund The Second Prize Brazil Bond Open (Monthly Settlement Type) Daiwa Asset Management Co. Ltd.

The First Prize Asia High Income Fund (Asia 3 Currency) Daiwa SB Investments Ltd. Asian Bond Resona Asian High Yield Bond Fund Asian Currency Sompo Japan Nipponkoa Asset Management Fund The Second Prize Course Co.,Ltd. Goldman Sachs Asia High Yield Bond Fund Asia Goldman Sachs Asset Management Co., Ltd. Currency Course North The First Prize US High Yield Bond Fund USD Course Asset Management One Co., Ltd. American High Mizuho US High Yield Open B Course Asset Management One Co., Ltd. Yield Bond The Second Prize Fidelity US High Yield Fund Fund FIL Investments(Japan)Limited Fidelity US High Yield Fund (Annual FY) The First Prize Fidelity J REIT Active Fund FIL Investments(Japan)Limited Japanese J-REIT Open (4 times Per Year Settlement Type) Nomura Asset Management Co.,Ltd. REIT Fund The Second Prize SUMITOMO MITSUI TRUST ASSET J-REIT Fund MANAGEMENT CO.,LTD. Daiwa C&S Sekai REIT Fund（Maitsuki Bunpai The First Prize Daiwa Asset Management Co. Ltd. Gata） Global REIT Daiwa C&S Global REIT Open （Maitsuki Bunpai Gata） Daiwa Asset Management Co. Ltd. Fund The Second Prize Resona World REIT Fund WORLD REIT INCOME OPEN Asset Management One Co., Ltd.

Fidelity US REIT Fund B (Currency Unhedged) The First Prize FIL Investments(Japan)Limited North Fidelity US REIT Fund D (Currency Unhedged) Amerivan Daiwa US REIT Fund Ⅱ（Annual Settlement Type） Daiwa Asset Management Co. Ltd. REIT Fund The Second Prize Shinko US-REIT Open（Zeus） Asset Management One Co., Ltd.

[iDeCo & DC Category] Category Prize Fund Name Fund Manager

The First Prize MHAM Japan Growth Stock Fund Asset Management One Co., Ltd. Japanese Sumitomo Mitsui Asset Management Company, Sumitomo Mitsui Life View Japan Equity Fund Equity Fund The Second Prize Limited JPM The Japan JPMorgan Asset Management (Japan) Ltd.

Japanese Mid The First Prize INVESCO OTC Growth Open Invesco Asset Management (Japan) Limited and Small Caps Equity Fund The Second Prize Meiji Yasuda DC Mid/Small Cap Open Meiji Yasuda Asset Management Company Ltd.

The First Prize Meiji Yasuda DC Japanese Bond Open Meiji Yasuda Asset Management Company Ltd. Japanese Meiji Yasuda Japanese Bond Fund Meiji Yasuda Asset Management Company Ltd. Bond Fund The Second Prize Schroder Investment Management (Japan) Schroder Nenkin Un-yo Fund - Japanese Bond Limited DAIWA SB DC FOREIGN EQUITY ACTIVE FUND The First Prize Daiwa SB Investments Ltd. DAIWA SUMIGIN DC INTERNATIONAL EQUITY Global Equity Nikko DC International Growth Fund Nikko Asset Management Co., Ltd. Fund The Second Prize Arigato Fund Arigato Asset Management Inc. Mitsubishi UFJ Kokusai Asset Management The First Prize Mitsubishi Foreign Bond Open Co., Ltd. Global Bond DAIWA SUMIGIN DC INTERNATIONAL BOND Daiwa SB Investments Ltd. Fund The Second Prize FUND Meiji Yasuda DC Foreign Bond Open Meiji Yasuda Asset Management Company Ltd.

Global Bond The First Prize Pictet Yen Income Select Fund(Monthly dividend type) Pictet Asset Management (Japan) Ltd. JPY Hedged Fund The Second Prize ASAHI NVEST GLOBAL BOND OPEN Asahi Life Asset Management Co., Ltd. Sompo Japan Nipponkoa Asset Management The First Prize Happy Aging 60 Mixed Asset Co.,Ltd. Conservative Nikko DC Asset Navigation Fund （Equity 20） Nikko Asset Management Co., Ltd. Fund The Second Prize Nikko DC Index Balance （Equity 20） Nikko Asset Management Co., Ltd. Sumitomo Mitsui Asset Management Company, The First Prize Sumitomo Mitsui Life View Balance Fund 50 Limited Mixed Asset DAIWA SUMIGIN DC PENSION PLAN FUND 50 Daiwa SB Investments Ltd. Balanced Fund The Second Prize Nikko DC Global Wrap Balance( Stable Growth Type ) Nikko Asset Management Co., Ltd. Sumitomo Mitsui Asset Management Company, The First Prize Sumitomo Mitsui Life View Balance Fund 70 Mixed Asset Limited Aggressive My Story Stock 75(DC) Nomura Asset Management Co.,Ltd. Fund The Second Prize Meiji Yasuda DC Heartful Life（Plan 70） Meiji Yasuda Asset Management Company Ltd.

[NISA Category] Category Prize Fund Name Fund Manager

The First Prize Monex Nihon Growth Stock Fund Asset Management One Co., Ltd. Japanese HIFUMI PLUS / HIFUMI FUND Rheos Capital Works Inc. Equity Fund The Second Prize Sumitomo Mitsui Asset Management Company, Sumitomo Mitsui Dividend Yield Stock Open Limited

Global Equity The First Prize SAISON SHISAN KEISEI TATSUJIN FUND SAISON ASSET MANAGEMENT CO.,LTD Fund The Second Prize Arigato Fund Arigato Asset Management Inc.

Global Bond The First Prize Fidelity Strategic Income Fund C Course FIL Investments(Japan)Limited JPY Hedged Global Floating Rate Bond Fund Yen Hedged Course Sompo Japan Nipponkoa Asset Management Fund The Second Prize （Henry） Co.,Ltd. Mitsubishi UFJ Balance Innovation (Emerging Added Mitsubishi UFJ Kokusai Asset Management The First Prize Mixed Asset Type) Co., Ltd. Sompo Japan Nipponkoa Asset Management Conservative Happy Aging 60 Co.,Ltd. Fund The Second Prize Smart Wrap Japan (Annual Settlement Type) Nikko Asset Management Co., Ltd. Sumitomo Mitsui Asset Management Company, The First Prize Sumitomo Mitsui Life View Balance Fund 50 Limited Mixed Asset Nikko DC Asset Navigation Fund （Equity 40） Nikko Asset Management Co., Ltd. Balanced Fund The Second Prize Rakuten Asset Accumulation Fund Meiji Yasuda Asset Management Company Ltd.

Mixed Asset The First Prize Daiwa Life Balance70 Daiwa Asset Management Co. Ltd. Aggressive Sumitomo Mitsui Asset Management Company, Fund The Second Prize Sumitomo Mitsui DC Pension Balance 70 Limited

Rating and Investment Information, Inc. TERRACE SQUARE, 3-22 Kanda Nishikicho, Chiyoda-ku, Tokyo 101-0054, Japan Investment Fund Business Dept. TEL. 03-6273-7309 FAX. 03-6273-7925 https://www.r-i.co.jp/index.html E-MAIL [email protected] ©Rating and Investment Information, Inc. NEWS RELEASE About "R&I Fund Award 2018" Features  The 12th annual award The Award was first presented in 2007, and this year marks the 12th award.  Recognition of funds in four categories simultaneously R&I is the only company to present awards to funds for individual investors, funds for iDeCo & DC plans, NISA funds and investment products for defined benefit pension plans simultaneously.  Recognition from a neutral and fair perspective R&I has no relation to any fund houses and is not involved in fund management itself. The Award is presented with such neutrality.

Selection Process & Eligible Funds The funds nominated for "Investment Trusts Category", "iDeCo & DC Category" and "Defined Benefit Pension Category" are those ranked in the top 75% of the annual quantitative evaluation for three consecutive years based on the actual performance data for each year ended March 2016, 2017 and 2018. Winners are selected according to the ranking of quantitative evaluation for the three-year period ended March 2018. The funds nominated for "NISA Category" are those meeting the criteria stated in the 2018 version of "NISA Screening" (published by R&I on February 8), and winners are selected according to the ranking of quantitative evaluation for the three-year period ended March 2018. The funds nominated for "Investment Trusts/10-year Category" are those ranked in the top 75% of the quantitative evaluation for the past five years as of end-March 2013 and as of end-March 2018 and for the past three years as of end-March 2018 based on the actual performance data for the respective periods. Winners are selected according to the ranking of quantitative evaluation for the 10-year period ended March 2018. The funds nominated for " Investment Trusts/20-year Category" are those ranked in the top 75% of the quantitative evaluation for the past 10 years as of end-March 2008 and as of end-March 2018 and for the past three years as of end-March 2018 based on the actual performance data for the respective periods. Winners are selected according to the ranking of quantitative evaluation for the 20-year period ended March 2018. The quantitative evaluation for "Investment Trusts Category", "iDeCo & DC Category", "NISA Category", "Investment Trusts/10-year Category" and "Investment Trusts/20-year Category" is based on "Sharpe Ratio" and for "Defined Benefit Pension Category", "Information Ratio". Fund nominees are required to have one year or more left before maturity. For "Investment Trusts Category", "Investment Trusts/10-year Category" and "Investment Trusts/20-year Category", funds must have 3 billion yen or more outstanding and rank among the top 50% in their respective subcategories in terms of outstanding balance. "NISA Category" funds are those with 3 billion yen or more outstanding. Funds for "iDeCo & DC Category" need to have 1 billion yen or more outstanding and rank among the top 75% in their respective subcategories in terms of outstanding balance. For "Investment Trusts Category", "iDeCo & DC Category", "NISA Category", "Investment Trusts/10-year Category" and "Investment Trusts/20-year Category", R&I awards the first prize to one fund and the second prize to about two funds. "Defined Benefit Pension Category" have no prize levels. Fund manager nominees for "Investment Trusts/Aggregate Category" are required to have three funds or more with the balance of 3 billion yen or more each as of end-March 2018. The first prize is awarded to one fund manager and the second prize to two fund managers based on the ranking by balance-weighted average "Sharpe Ratio" of funds during the last three years. The funds eligible for "Investment Trusts Category", "Investment Trusts/Aggregate Category", "Investment Trusts/10-year Category" and "Investment Trusts/20-year Category" are Japanese Publicly Offered Open-type Stock Investment Trusts excluding defined contribution pension funds. Those for "iDeCo & DC Category" consist of Japanese Publicly Offered Open-type Stock Investment Trusts used in iDeCo & DC plans (individual and corporate-type defined contribution pension plans). "NISA Category" funds are Japanese Publicly Offered Open-type Stock Investment Trusts for Nippon Individual Savings Accounts. For "Defined Benefit Pension Category", investment products registered in "R&I Universe Data Service" are eligible. All of them are in principle based on R&I's classifications.

Supported by Nikkei Inc.

The R&I Fund Award is presented to provide reference information based on the past data R&I believes to be reliable (however, its accuracy and completeness are not guaranteed by R&I) and is not intended to recommend the purchase, sale or holding of particular products or guarantee their future performance. The Award is not the Credit Rating Business, but one of the Other Lines of Business (businesses excluding Credit Rating Business and also excluding the Ancillary Businesses) as set forth in Article 299, paragraph (1), item (xxviii) of the Cabinet Office Ordinance on Financial Instruments Business, etc. With respect to such business, relevant laws and regulations require measures to be implemented so that activities pertaining to such business would not unreasonably affect the Credit Rating Activities. Intellectual property rights including copyright and all other rights in this Award are the sole property of R&I, and any unauthorized copying, reproduction and so forth are prohibited. The Award for "Investment Trusts/Aggregate Category" is based on the average performance of the relevant funds of a fund manager, and does not indicate the excellent performance of all individual funds of the manager.