Aberdeen Select Portfolio – June 2016 Aberdeen Malaysian Equity Fund

Performance Data and Analytics to 31 May 2016

Fund objective Top ten holdings (%)

Aims to provide holders with medium to long-term capital growth from a portfolio of Aeon Co (M) Berhad 7.1 Malaysian equities. United Plantations 6.5 Key information Public Bank 5.2 Hong Leong Financial 4.8 Fund included under2 CPFIS-OA1/SRS Switching fee 1.0% Oriental Holdings 4.6 Inception date 5 Dec 1997 Management fee 1.5% p.a Panasonic Manufacturing 4.5 Benchmark FTSE Bursa Min. investment S$1,000/ Alliance Financial Group 4.1 KLCI US$5,000 LPI Capital 4.0 Monthly investment S$100 min. Min. subsequent S$100/ US$2,500 United 3.9 plan2 investment CIMB Group Holdings 3.8 Front end load 5.0% (Cash/SRS) Fund size S$61.4m Total 48.5 3.0% (CPFIS-OA)3 Sector allocation (%)

Performance Financials 35.3 Percentage Growth Total Return (05/12/1997 - 31/05/2016) Consumer Goods 25.1 Consumer Services 18.3 500 Telecommunications 6.5 400 Industrials 6.4 Basic Materials 3.6 300 306.9 Oil & Gas 2.0 200 289.4 Cash 2.8 100 286.6 Total 100.0 Figures may not always sum to 100 due 0 to rounding. 1 -100 Higher Risk - Narrowly Focused (Country - Others). 2 S$ Class only. 2011 1997 2015 2013 1999 2016 2001 2007 2005 2003 2009 3 With effect from 1 Jul 07. Fund NAV to NAV Fund (Charges applied)4 Benchmark5 4 Includes the effect of an assumed 5% front end load, which the investor might Performance (%) or might not pay. NAV to NAV figures are a better reflection of underlying SGD Cumulative Annualised investment performance. 5 Benchmark is FTSE Bursa Malaysia KLCI 1 mth 3 mths 1 yr 3 yrs Incep. 3 yrs Incep. TR. Fund NAV to NAV -4.3 1.2 -13.0 -23.0 306.9 -8.3 7.9 6 Fund available for US$ investment Fund (Charges applied)4 -9.0 -3.9 -17.4 -26.8 286.6 -9.9 7.6 since 1 Jun 04. Not applicable to USD Benchmark5 -5.3 -1.1 -13.0 -17.7 289.4 -6.3 7.6 investments - Class I.

USD6 Cumulative Annualised 1 mth 3 mths 1 yr 3 yrs Incep. 3 yrs Incep. Fund NAV to NAV -6.5 3.4 -14.9 -29.5 203.7 -11.0 9.7 Fund (Charges applied)4 -11.2 -1.8 -19.1 -33.0 188.5 -12.5 9.2 Benchmark5 -7.5 1.1 -14.8 -24.4 189.0 -8.9 9.2 Source: Lipper, percentage growth, gross income reinvested. Prices over past 12 months Highest NAV Lowest NAV SGD $4.4450 (1/06/2015) $3.6009 (29/09/2015) USD $3.3900 (3/06/2015) $2.5900 (29/09/2015)

www.aberdeen-asia.com Important information overleaf Fund manager's report on page 2 Page 1 of 2 Aberdeen Select Portfolio – June 2016 Aberdeen Malaysian Equity Fund

Performance Data and Analytics to 31 May 2016

Risk statistics Fund manager's report l Malaysian equities and the ringgit underperformed their regional peers in May, as the 3 yrs Beta 0.91 1MDB controversy continued to leave a sour taste with foreign investors. Investigations in Singapore culminated in the withdrawal of the banking licence of BSI Bank, which Standard Deviation 12.02 helped 1MDB transmit funds offshore. BSI had breached anti-money laundering rules, Sharpe Ratio -0.61 with poor oversight of its operations and misconduct by some of its staff. The Zurich- Codes based bank was also fined S$13.3 million, while six senior executives were referred to UK Sedol number 6383619 the public prosecutor to evaluate if they had committed crimes. ISIN code SGD - SG9999000442 l There were also external headwinds to contend with, including a strengthening US USD - SG9999001895 dollar, owing to rising expectations that the Federal Reserve would raise interest rates Bloomberg ticker SGD - ABMALEI SP shortly, and signs that the Chinese economy was weakening again. This was despite a USD - ABMALEU SP bounce in oil prices to year-to-date highs, owing partly to supply disruptions. Note: The Fund is an open-ended sub- fund under the Aberdeen Select Portfolio. l Latest domestic data, meanwhile, suggested a subdued growth outlook for the rest of The benchmark was renamed from the year. Private consumption, manufacturing and construction buoyed the economy in KLSE Composite Index to FTSE Bursa the first quarter, but exports remained tepid and private investment eased. Malaysia KLCI with effect from 6 Jul 09. All non-performance data is sourced l Despite moderating growth, new central bank governor Muhammad Ibrahim chose to from Aberdeen Asset Management Asia keep the status quo in an uneventful debut. Limited with gross risk statistics also from BPSS, Datastream. l Prime minister received some respite amid testing times, as the ruling savoured a landslide win in the elections. This was attributed largely to chief minister Adenan Satem’s popularity and the promise of heavy federal infrastructure expenditure. l In May, we added to BAT Malaysia on share price weakness.

______Important information The CPF interest rate for the Ordinary Account (“OA”) is based on the 12-month fixed deposit and month-end savings rates of the major local banks. Under the CPF Act, the Board pays a minimum interest of 2.5% per annum when this interest formula yields a lower rate. In addition, the CPF Board will pay an extra interest rate of 1% per annum on the first $60,000 of a CPF member’s combined balances, including up to $20,000 in the OA. The first $20,000 in the OA will not be allowed to be invested under the CPF Investment Scheme. The above information should not be considered an offer, or solicitation, to deal in any funds in the Aberdeen Select Portfolio. Investments in the unit trusts are not deposits in, obligations of, or guaranteed or insured by Aberdeen Asset Management Asia Limited For more information (the “Manager”), and are subject to investment risks, including the possible loss of the Phone 1800 395 2709 principal amount invested. Unit values and income therefrom may fall or rise. Past performance is not indicative of future performance. Investors should read the prospectus Fax 6632 2993 and the product highlights sheet or seek relevant professional advice, before making any investment decision. A copy of the prospectus is available from The fund(s) as well as their underlying fund(s) may use or invest in financial derivative the website or from: instruments. Please refer to the prospectus of the Aberdeen Select Portfolio fund(s) Aberdeen Asset Management Asia Ltd for more information. 21 Church Street #01-01 The above is based on information available as at 31/05/2016, unless otherwise stated. Capital Square Two The Manager reserves the right to make any amendments to the information at any time, without notice. Singapore 049480 Aberdeen Asset Management Asia Limited, Registration Number 199105448E Page 2 of 2