Benefits of investing in the Nikko AM New Asia Fund

Benefits of investing in the Fund include the following:

• your money is managed by NAM Asia's investment professionals who have access to investment techniques that may not be available to all investors

• access to investment opportunities and markets that may not be accessible to individual investors

• the potential for long-term capital growth (dividends, interest, foreign tax credits and capital gains) (as well as capital losses) for investors

• the option to make regular investments with a Regular Savings Plan

• regular investment statements and an annual tax statement to keep you up to date on your investment

• a customer service team to assist with your queries about the Fund and your investment

• online access to up-to-date information about your investment.

Risk level

High

About the Fund

The Nikko AM New Asia Fund invests in securities in Asia (excluding Japan) and cash. As a guideline, the Fund will usually hold approximately 40 - 60 different securities. NAM Asia will select securities for the Fund predominantly by using a bottom-up stock selection approach, and will generally take a long-term view to investing.

Investment Objective

The Fund aims to outperform the MSCI All Country Asia ex Japan Index (in Australian Dollar terms) unhedged over the long term after fees and expenses but before taxes.

Fund characteristics

• Active management of mid to large cap companies offering sustainable and growing earnings

• Concentrated portfolios - a typical regional portfolio holds between 40 to 60 stocks

• Identification of mis-priced stocks through fundamental research

• Portfolios are predominantly constructed through bottom-up stock selection

• Stock selection and stock weightings driven by view and conviction, not the benchmark

How we invest your money

The main investments of the Fund will include:

• securities listed on stock exchanges across Asia, excluding Japan, but including Hong Kong, Singapore, China, South Korea, Taiwan, Malaysia, Thailand, Indonesia, Philippines, India, Pakistan and Sri Lanka

• American Depository Receipts (ADRs) and Global depository Receipts (GDRs) of Asian domiciled companies listed in the US and Europe

• cash (and cash equivalents such as other investment grade interest-bearing securities)

• derivatives.

Strategic asset allocation

(Asset class: Target Range / Target Allocation)

• Asian securities (ex-Japan) (unhedged): 80%-100% / 98%

• Cash & short-term securities*: 0%-20% / 2%

The investment mix can change quickly and sometimes significantly.

The investment mix and the investment guidelines provide an indication of the intended holdings in the Fund and may be higher or lower from time to time. in exceptional market conditions, the Fund may have higher levels of cash where, in NAM Asia's opinion, more attractive investment opportunities cannot be found.

* Investments in cash includes cash equivalents such as other investment grade interest bearing securities.

The Fund will not borrow. NAM Asia may use options, futures or other derivatives to reduce risk or gain exposure to the market for the underlying physical investments. derivatives are not used speculatively. NAM Asia will not use derivatives for the purpose of gearing the Fund. NAM Asia regularly monitors derivative positions to ensure that the Fund can meet all derivative contract obligations from the appropriate amounts of cash or physical assets held by the Fund.