AmAsia Pacific Equity Income June 2015 AmAsia Pacific Equity Income (the "Fund") seeks to provide income*** and to a lesser extent long term** capital growth by investing in the Target Fund which has an investment focus on Asia Pacific ex-Japan equities. Note: **Long term refers to an investment horizon of at least five (5) years. Note: *** Income distribution (if any) will be paid via cheque or by instructing us to credit into your bank account. If you do not state your option in the account opening form or transaction form, and if income distribution is paid, such income will be automatically reinvested in the form of units. The Fund is suitable for investors who : Target Fund's Top Holdings* (as at 31 May 2015) • seek regular income* in their investment; • seek Long Term capital growth on their investment; CHINA CONSTRUCTION BANK CORP 4.5% • seek participation in the upside potential of the Asia Pacific ex-Japan market; and SAMSUNG ELECTRONICS CO LTD 3.8% • seek medium to high risk investment vehicle. BANK OF CHINA LTD 3.7% Note: *The income could be in the form of units or cash. SK HYNIX INC 2.9% PING AN INSURANCE GROUP CO OF CHINA LTD 2.5% Investment Strategy * As percentage of NAV. Please note that asset exposure for the fund is subject to frequent change on a daily basis. • Minimum of 95% of the Fund's NAV will be invested in the BlackRock Global Funds-Asia Source: BlackRock Investment Management (UK) Limited (Target Fund’s Investment Manager) Pacific Equity Income Fund at all times. This implies that this Fund has a passive strategy. Target Fund's Sector Allocation* (as at 31 May 2015) Asset Allocation Financials 44.4% • BlackRock Global Funds-Asia Pacific Equity Income Fund 97.40% Information Technology 14.2% • Liquid Assets 2.60% Industrials 9.1% Source: AmInvestment Services Berhad Materials 8.3% Consumer Discretionary 8.0% Fund Details Telecommunications 5.2% Fund Category / Type Feeder Fund (equity) / Income and Growth Energy 3.8% Fund Launch Date 18 April 2012 Cash 3.1% Offer Price at Launch MYR 1.0000 Utilities 2.1% NAV (31 May 2015) MYR 1.0089 Other 1.3% 1-year NAV High (31 May 2015) MYR 1.0466 (10 Jun 2014) Consumer Staples 0.5% 1-year NAV Low (31 May 2015) MYR 0.8672 (17 Oct 2014) Health Care 0.1% Total Units (31 May 2015) 1,005.75 million * As percentage of NAV. Please note that asset exposure for the fund is subject to frequent change on a daily basis. Fund Size (31 May 2015) MYR 1,014.66 million Source: BlackRock Investment Management (UK) Limited (Target Fund’s Investment Manager) Annual Management Fee Up to 1.80% p.a. of the NAV of the Fund Target Fund's Country Allocation* (as at 31 May 2015) Annual Trustee Fee Up to 0.08% p.a. of the NAV of the Fund, subject to a minimum fee of RM10,000 p.a. China 32.7% Entry Charge Up to 5% of the NAV per unit for cash sales Australia 19.6% Exit Fee Nil Korea 14.3% Redemption Payment Period By the 10th day of receipt of a repurchase notice Taiwan 10.8% Investment Manager AmInvestment Services Berhad India 9.9% Income Distribution Subject to availability of income, distribution will be paid Hong Kong 4.9% quarterly Japan 1.9% Source: AmInvestment Services Berhad * As percentage of NAV. Please note that asset exposure for the fund is subject to frequent change on a daily basis. Source: BlackRock Investment Management (UK) Limited (Target Fund’s Investment Manager) Income Distribution History Fund Performance (as at 31 May 2015) Payout(sen) Total (sen) Cumulative performance over the period (%) FY2015 - 4.00 4.00 100.00 FY2014 - 17.50 17.50 * based on the NAV of the preceding financial year end 50.00 Source: AmInvestment Services Berhad Target Fund Manager's Commentary 0.00 The Fund fell by 2.1% over the month, outperforming its benchmark, which was down by 2.7%. -50.00 Apr-12 AmAsia Pacific Equity Income May-15 At the stock level, the main drivers and detractors from performance were from Korea. Cowell E, a Korean MSCI AC Asia Pacific ex -Japan (Net) Index camera module company, was the largest contributor to performance in May as it surged on strong reported earnings for Apple. This was followed by SK Hynix, a Korean semiconductor manufacturer which The value of units may go down as well as up. Past performance is not indicative of future performance. rose as the market became more optimistic on PC DRAM price stabilisation. On the other hand, Shinhan Source: Lipper Financial detracted from performance due to market concerns on potential net interest margin decline triggered by a series of rate cuts by both the Bank of Korea and central banks globally. China Unicom Performance Data (as at 31 May 2015) consolidated after a strong run in April. We maintain our positive view due to the roll-out of 4G in the second half of 2015 and tower company reform. 1 m 6 m 1 yr 3 yrs 5 yrs We shifted part of our Korean exposure towards domestic retail and purchased CJ O shopping as the Korean online retail marketing company has tidied up its product offerings. We funded this by switching out of Korean value names like SK Innovation and Hyundai Engineering & Construction, where th e recent rally Fund (%) -1.05 15.64 16.15 62.66 - seems unjustified by global demand fundamentals, as well as Hyundai Motors, where volumes and prices are seeing pressure globally. We also purchased Global Logistics Properties as the Brazil exposure is *Benchmark (%) -0.47 13.30 19.34 58.97 - stabilising, its China investments are yet to be deployed and we see long-term potential for dividend increase and capitalisation rate compression. *MSCI AC Asia Pacific ex-Japan (Net) Index Source: AmInvestment Services Berhad, Verified by Novagni Asian equities consolidated following a strong run year to date which has been largely driven by outperformance in Chinese equities. The People’s Bank of China embarked on its third rate cut in the last 6 Calendar Year Return months and lowered the benchmark interest rate by 25 bps. Meanwhile, Chinese economic activity such as industrial production and retail sales continued to disappoint. However, we are starting to see pockets of improvement in areas like the property market, where price declines are slowing. Indian equities recovered 2014 2013 2012 2011 2010 slightly in May, although growth momentum also remained weak. We expect market volatility to remain elevated given weaker economic fundamentals across the region. However, as we look ahead, we see AmAsia Pacific Equity Income 5.03 12.08 - - - further upside for the asset class if we get to a more stable economic environment. This will enable reform (%) progress to continue, which will lead to higher quality and m ore sustainable growth in Asia. We continue to MSCI AC Asia Pacific ex-Japan 9.75 10.76 --- be positive on China on expectations of growth stabilisation and the lowering of left-tail risks and on India (NET) Index (%) for its strong reform story and growth potential. We remain underweight Australia as it is still struggling to Performance figures are based on NAV-to-NAV prices, dividends re-invested in MYR make the transition from a resources-led economy to domestic-driven growth. A continued deterioration in Source: AmInvestment Services Berhad the terms of trade and further declines in business capital expenditure is likely to place further downward pressure on GDP growth. Source: BlackRock Investment Management (UK) Limited (Target Fund’s Investment Manager) Growing your investments in a changing world The information contained in this material is general information only and does not take into account your individual objectives, financial situations or needs. You should seek your own financial advice from an appropriately licensed adviser before investing.You should be aware that investments in a unit trust fund carry risks. An outline of some of the risks is contained in the Master Prospectus dated 10 September 2014, Supplementary Master Prospectus dated 1 December 2014 and Second Supplementary Master Prospectus dated 1 April 2015 which expires on 9 September 2015 respectively (referred to as the “Prospectus(es))”. The specific risks associated with the Fund are risk of not meeting the fund's investment objective, liquidity risk, risk of a passive strategy and currency risk as contained in the prospectus(es). Please also refer to the specific risks of the target fund before investing. Unit prices and income distribution, if any, may rise or fall. Past performance of a fund is not indicative of future performance. Please consider the fees and charges involved before investing. Units will be issued upon receipt of completed application form accompanying the Prospectus(es) and subject to terms and conditions therein. You have the right to request for a copy of Product Highlights Sheet for the fund. You are advised to read and understand the contents of the Product Highlights Sheet and the Prospectus(es) before making an investment decision. The Prospectus(es) has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. You can obtain a copy of the Product Highlights Sheet and the Prospectus(es), from any of our representative office and authorized distributor. AmInvestment Services Berhad does not guarantee any returns on the investments. In the event of any dispute or ambiguity arising out of the other language translation in this leaflet, the English version shall prevail. Note: All fees, charges and expenses disclosed in this material are expressed on a GST-exclusive basis.