R&I Fund Award 2019

NEWS RELEASE

May 7, 2019

R&I Announces Winners of "R&I Fund Award 2019"

Rating and Investment Information, Inc. (R&I) has announced winners of "R&I Fund Award 2019" (supported by Nikkei Inc.) for investment trust-related categories. This year's Award, the first in the series presented in Japan's new imperial era "Reiwa", includes a new subcategory "Tactical Asset Allocation Fund" in the Investment Trusts Category. Among balanced funds, the core product for long-term asset accumulation, this subcategory covers variable allocation funds, whose performance is affected by fund managers' investment skills more strongly. 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 Tokio Marine Asset Management Co., Ltd. Japanese Equity Fund SPARX Asset Management Co., Ltd. Aggregate The Second Prize Meiji Yasuda Asset Management Company Ltd.

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

The First Prize FIL Investments(Japan)Limited Global Bond Fund DWS Investments Japan Limited Aggregate The Second Prize Amundi Japan, Ltd.

The First Prize JPMorgan Asset Management (Japan) Ltd. Mixed Asset Fund JP 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 Japan New Age Open Asset Management One 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

The First Prize HIFUMI FUND RHEOS CAPITAL WORKS Japanese SPARX NEW GLOBAL BLUE CHIP JAPANESE SPARX Asset Management Co., Ltd. Equity Fund The Second Prize EQUITY FUND Monex Nihon Growth Stock Fund Asset Management One Co., Ltd.

Japanese Mid The First Prize DIAM small cap fund Asset Management One Co., Ltd. and Small Sumitomo Mitsui DS Asset Management Sumitomo Mitsui Mid-Small Cap Equity Fund Caps Equity The Second Prize Company, Limited Fund DAIWA SUMIGIN JAPAN SMALL CAP EQUITY Sumitomo Mitsui DS Asset Management FUND Company, Limited Japanese Sumitomo Mitsui DS Asset Management The First Prize SB JAPAN BOND FUND Bond Fund Company, Limited The First Prize SAISON SHISANKEISEI TATSUJIN FUND SAISON ASSET MANAGEMENT CO.,LTD. Global Equity Global Value Open NOMURA ASSET MANAGEMENT CO., LTD. Fund The Second Prize Fidelity Global Fund FIL Investments(Japan)Limited

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 Amundi US Euro Investment Grade Bond Fund(Resona Amundi Japan, Ltd. Pair Income) Global Bond The First Prize Fidelity Strategic Income Fund A Course FIL Investments(Japan)Limited JPY Hedged

[Investment Trusts Category] Category Prize Fund Name Fund Manager

The First Prize TMA JAPAN OWNERS EQUITY FUND Tokio Marine Asset Management Co., Ltd.

Women Supporter Fund Daiwa Asset Management Co.Ltd. Japanese Monex Nihon Growth Stock Fund Asset Management One Co., Ltd. Equity Fund The Second Prize SPARX NEW GLOBAL BLUE CHIP JAPANESE SPARX Asset Management Co., Ltd. EQUITY FUND MHAM Japan Growth Stock Open Asset Management One Co., Ltd.

Japanese Mid The First Prize Nikko Growing V enture Fund Nikko Asset Management Co., Ltd. and Small Enterprise Value Growth Small Cap Stock Asset Management One Co., Ltd. Caps Equity The Second Prize Fund(Ganriki) Fund SBI Small Cap Growth Equity Fund J Cool(jcool) SBI Asset Management Co., Ltd Japanese ESG The First Prize Women Supporter Fund Daiwa Asset Management Co.Ltd. Equity Fund Sumitomo Mitsui DS Asset Management The First Prize SB JAPAN BOND FUND Company, Limited Japanese Meiji Yasuda Japanese Bond Fund Meiji Yasuda Asset Management Company Ltd. Bond Fund The Second Prize Daiwa JGB 15-20 Years Ladder Fund -SL Trade- Daiwa Asset Management Co.Ltd.

The First Prize UBS (JP) Multi-Technology Fund UBS Asset Management (Japan) Ltd Global Equity Nomura Future Trend Discovery Fund course B(Senken NOMURA ASSET MANAGEMENT CO., LTD. Fund The Second Prize No Mei) Kokusai Morgan Stanley Global Premium Stock Open Mitsubishi UFJ Kokusai Asset Management Not Hedged Co., Ltd.

Category Prize Fund Name Fund Manager netWIN Goldman Sachs Internet Toalkeeper Fund (non The First Prize Goldman Sachs Asset Management Co., Ltd. North headge) Sumitomo Mitsui DS Asset Management American US Technology Innovators Fund The Second Prize Company, Limited Equity Fund AllianceBernstein U.S. Growth Stock Fund B AllianceBernstein Japan Ltd. AllianceBernstein U.S. Growth Stock Fund D European Sumitomo Mitsui DS Asset Management The First Prize Nikko Edmond de Rothschild Luxury Fund Equity Fund Company, Limited Sumitomo Mitsui DS Asset Management The First Prize Australian Dividend Yield Equity Fund Australia and Company, Limited New Zealand Fidelity Australia Equity Income Fund FIL Investments(Japan)Limited The Second Prize Equity Fund Nissay Australia High Dividend Equity Fund（Monthly Nissay Asset Management Corporation Settlement Type） The First Prize JPM Asian Equity Active Open JPMorgan Asset Management (Japan) Ltd. Asia Equity Multi-country JPM Nikko Asia Discovery Fund JPMorgan Asset Management (Japan) Ltd. Fund The Second Prize Fidelity Asia Equity Fund FIL Investments(Japan)Limited

The First Prize UBS (JP) China Equity Fund UBS Asset Management (Japan) Ltd China Equity UBS (JP) China A Share Fund (Annual settlement UBS Asset Management (Japan) Ltd Fund The Second Prize type) Fidelity China Focus Open FIL Investments(Japan)Limited

The First Prize Shinsei UTI India Fund Shinsei Investment Management Co.,Ltd. India Equity Nomura India Investment Fund NOMURA ASSET MANAGEMENT CO., LTD. Fund The Second Prize Nissay India Equity Selection Fund Nissay Asset Management Corporation Schroder Investment Management (Japan) The First Prize Schroder BRICs Equity Fund Emerging Limited Equity Multi- HSBC BRICs Open HSBC Global Asset Management (Japan) K.K. regional Fund The Second Prize JPM BRICS5 Fund JPMorgan Asset Management (Japan) Ltd.

Brazil and Latin America The First Prize Daiwa Brazil Stock Open －Rio Wind－ Daiwa Asset Management Co.Ltd. Equity Fund Russia and Eastern The First Prize Amundi Russia Eastern Europe Equity Fund Amundi Japan, Ltd. Europe Equity Fund Nikko Global Income Infrastructure Equity Fund Global The First Prize Nikko Asset Management Co., Ltd. Infrastructure (Monthly dividend Payment Type) World Infrastructure High Yielding Equity Fund - Equity Fund The Second Prize Asset Management One Co., Ltd. Monthly Accounting Type Global Natural Mitsubishi UFJ Kokusai Asset Management The First Prize Global Resources Equity Fund Resources Co., Ltd. Equity Fund Global Health- care and The First Prize Medical Science Fund Asset Management One Co., Ltd. Biotechnology Equity Fund TMR Global Hybrid Securities Fund (USD Course) The First Prize Tokio Marine Asset Management Co., Ltd. Monthly Type Global Bond AllianceBernstein Global High Income Open A AllianceBernstein Japan Ltd. Fund The Second Prize UBS (JP) Global Conservative Sector Corporate and UBS Asset Management (Japan) Ltd Financials Bond Fund (without currency hedge) Daiwa Global Corporate Hybrid Securities Fund (JPY The First Prize Daiwa Asset Management Co.Ltd. Global Bond Hedged) JPY Hedged Fidelity Strategic Income Fund A Course FIL Investments(Japan)Limited The Second Prize Fund TMR Global Hybrid Securities Fund (JPY Course) Tokio Marine Asset Management Co., Ltd. Monthly Type

Category Prize Fund Name Fund Manager Sumitomo Mitsui DS Asset Management The First Prize T.ROWE PRICE US INCOME FUND North Company, Limited LOOMIS US Investment Grade Bond Fund [Monthly American Asset Management One Co., Ltd. Distribution] Bond Fund The Second Prize Nissay/Putnam Income Open Nissay Asset Management Corporation New Zealand Bond Fund (Monthly Dividend Payment The First Prize Nikko Asset Management Co., Ltd. Australia and Type) LM New Zealand Bond Fund (Monthly Distribution Legg Mason Asset Management (Japan) Co., New Zealand The Second Prize Type) Ltd. Bond Fund Mitsubishi UFJ Kokusai Asset Management Australian Income Open Co., Ltd. Nikko PIMCO High Income Sovereign Fund Monthly The First Prize Nikko Asset Management Co., Ltd. Emerging Dividend Payment Type (US Dollar course) Bond Multi- Frontier World Income Fund Asset Management One Co., Ltd. The Second Prize regional Fund Mitsubishi UFJ Kokusai Asset Management PIMCO Emerging Bond Open A (Currency Not Hedged) Co., Ltd. The First Prize HSBC Brazil Bond Open (Monthly Type) HSBC Global Asset Management (Japan) K.K. Brazil and LM Brazilian Government Bond Fund (Monthly Legg Mason Asset Management (Japan) Co., Latin America The Second Prize Distribution Type) Ltd. Bond Fund Resona Brazil Sovereign Fund (Monthly Settlement Daiwa Asset Management Co.Ltd. Type) Goldman Sachs Asia High Yield Bond Fund Asia The First Prize Goldman Sachs Asset Management Co., Ltd. Currency Course Asian Bond Resona Asian High Yield Bond Fund Asian Currency Sompo Japan Nipponkoa Asset Management Fund The Second Prize Course Co.,Ltd. Nomura Indian Bond Fund NOMURA ASSET MANAGEMENT CO., LTD. Fidelity US High Yield Fund North The First Prize FIL Investments(Japan)Limited Fidelity US High Yield Fund (Annual FY) American High Mizuho US High Yield Open B Course Asset Management One Co., Ltd. Yield Bond The Second Prize Fund Fidelity High Yield Bond Open A FIL Investments(Japan)Limited J-REIT Research Open (Twice a Year) Sumitomo Mitsui Trust Asset Management The First Prize J-REIT Research Open (Every Month) Co.,LTD. Japanese Nomura J-REIT Fund NOMURA ASSET MANAGEMENT CO., LTD. REIT Fund The Second Prize J-REIT Open NOMURA ASSET MANAGEMENT CO., LTD. Daiwa C&S Sekai REIT Fund（Maitsuki Bunpai The First Prize Daiwa Asset Management Co.Ltd. Gata） Resona World REIT Fund Global REIT Daiwa C&S Global REIT Open （Maitsuki Bunpai Daiwa Asset Management Co.Ltd. Fund The Second Prize Gata） Global REIT Selection (Public Baby) Okasan Asset Management Co.,Ltd.

The First Prize Daiwa US REIT Fund Ⅱ（Annual Settlement Type） Daiwa Asset Management Co.Ltd. North Fidelity US REIT Fund D (Currency Unhedged) Amerivan FIL Investments(Japan)Limited Fidelity US REIT Fund B (Currency Unhedged) REIT Fund The Second Prize Shinko US-REIT Open(Zeus) Asset Management One Co., Ltd. Fidelity Core Income Fund (Monthly Dividend The First Prize FIL Investments(Japan)Limited Tactical Asset Type)(Currency hedged) Allocation Investment Sommelier Fund Asset Management One Co., Ltd. The Second Prize Fund Income Builder (Monthly Distribution) Global Currency Asset Management One Co., Ltd. Diversified Course

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

Japanese The First Prize MHAM Japan Growth Stock Fund Asset Management One Co., Ltd. Equity Fund The Second Prize JPM Japan Active Open JPMorgan Asset Management (Japan) Ltd.

Japanese Mid and Small The First Prize Meiji Yasuda DC Mid/Small Cap Open Meiji Yasuda Asset Management Company Ltd. Caps Equity Fund

Japanese The First Prize Meiji Yasuda DC Japanese Bond Open Meiji Yasuda Asset Management Company Ltd. Bond Fund Schroder Investment Management (Japan) The Second Prize Schroder Nenkin Un-yo Fund - Japanese Bond Limited DAIWA SB DC FOREIGN EQUITY ACTIVE FUND Sumitomo Mitsui DS Asset Management The First Prize DAIWA SUMIGIN DC INTERNATIONAL EQUITY Global Equity Company, Limited FUND Fund The Second Prize Nikko DC International Growth Fund Nikko Asset Management Co., Ltd. DAIWA SUMIGIN DC INTERNATIONAL BOND Sumitomo Mitsui DS Asset Management The First Prize Global Bond FUND Company, Limited Fund The Second Prize Meiji Yasuda DC Foreign Bond Open Meiji Yasuda Asset Management Company Ltd. Sumitomo Mitsui Trust Asset Management Global Bond The First Prize Bond Core Strategy Fund JPY Hedged Co.,LTD. Fund The Second Prize ASAHI NV EST GLOBAL BOND OPEN Asahi Life Asset Management Co., Ltd. Mitsubishi Prime Balance(Stable Growth Mitsubishi UFJ Kokusai Asset Management Mixed Asset The First Prize Conservative Type)(Defined Contribution Plan) Co., Ltd. Sumitomo Mitsui DS Asset Management Fund The Second Prize DAIWA SUMIGIN DC PENSION PLAN FUND 30 Company, Limited Mitsubishi UFJ Prime Balance(8 Assets)(Defined Mitsubishi UFJ Kokusai Asset Management The First Prize Mixed Asset Contribution Plan) Co., Ltd. Balanced Fund Sumitomo Mitsui Trust Asset Management The Second Prize Index Collection (Balance Equity 50) Co.,LTD. Sumitomo Mitsui Trust Asset Management Mixed Asset The First Prize DC My Selection S75 Aggressive Co.,LTD. Mitsubishi UFJ Kokusai Asset Management Fund The Second Prize eMAXIS Balanced Fund(My Striker) Co., Ltd.

[NISA Category] Category Prize Fund Name Fund Manager

The First Prize Yui 2101 kamakura Investment Management Co.,Ltd Japanese Equity Fund HIFUMI PULS FUND The Second Prize RHEOS CAPITAL WORKS HIFUMI FUND Global Equity Nomura Future Trend Discovery Fund course B(Senken The First Prize NOMURA ASSET MANAGEMENT CO., LTD. Fund No Mei) Sumitomo Mitsui DS Asset Management Mixed Asset The First Prize Sumitomo Mitsui DC Pension Balance 30 Conservative Company, Limited Fund The Second Prize Daiwa Life Balance30 Daiwa Asset Management Co.Ltd.

Mixed Asset The First Prize Daiwa Life Balance50 Daiwa Asset Management Co.Ltd. Balanced Fund Sumitomo Mitsui DS Asset Management The Second Prize Sumitomo Mitsui DC Pension Balance 50 Company, Limited

About "R&I Fund Award 2019"

Features  The 13th annual award The Award was first presented in 2007, and this year marks the 13th 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", "NISA 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 2017, 2018 and 2019. Winners are selected according to the ranking of quantitative evaluation for the three-year period ended March 2019. 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 2014 and as of end-March 2019 and for the past three years as of end-March 2019 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 2019. 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 2009 and as of end-March 2019 and for the past three years as of end-March 2019 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 2019. 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 ratios and for "Defined Benefit Pension Category", information ratios. Fund nominees are required to have one year or more left before maturity. For "Investment Trusts Category", "NISA 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. 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. 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 2019. Winners are selected according to the ranking by the 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 and funds for separately managed accounts and other wrap accounts. 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 that meet R&I's proprietary "NISA Screening" criteria. 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.