DSL Investment-Linked Plan Series Principal Brochure Investment Choice Brochure June 2011

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1 June 2011 SFC authorization is not a recommendation or endorsement of DSL InvestSmart Plus Investment-Linked Plan / DSL InvestSmart Investment-Linked Plan (collectively known as DSL Investment-Linked Plan series) nor does it guarantee the commercial merits of DSL Investment-Linked Plan series or its performance. It does not mean DSL Investment-Linked Plan series is suitable for all investors nor is it an endorsement of its suitability for any particular investor or class of investors. DSL Investment-Linked Plan series has been authorized by the Securities and Futures Commission. Such authorization does not imply official recommendation. The Commission does not take any responsibility for the contents of this brochure, makes no representation as to its accuracy or completeness, expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this brochure. Dah Sing Life Assurance Company Limited accepts full responsibility for the accuracy of the information shown in this brochure at the date of publication and confirm, having made all reasonable enquiries, that to the best of our knowledge and belief there are no other facts the omission of which would make any statement misleading. Principal Brochure consists of Product Brochure, Investment Choice Brochure and Product Key Facts Statement. The Principal Brochure is intended to be distributed in Hong Kong only. This Investment Choice Brochure is issued and should be read in conjunction with the Product Brochure and the Product Key Facts Statement. The Principal Brochure does not form any part of your policy.

2 Dah Sing Life Assurance Company Limited (the Company ) offers you the DSL Investment Linked Plan Series to enable you to gain exposure in a wide variety of investment choices as set out in this Investment Choice Brochure with a spectrum of risk levels in different markets over the world to meet your financial needs and investment appetite. The investment choices include a wide array of underlying funds with diversified investment in equity, bond, money market instruments and balanced portfolios (Please refer to the offering documents of the relevant underlying funds for their investment objectives and risk factors). Introduction of Investment Management Company Our selected investment choices are managed by reputable world-class investment management company below. Invest with comfort, you can capitalize on their expertise, capture variety of investment choices and manage your overall returns (Please refer to the offering document of the relevant underlying funds for their investment objectives and risk factors). FIL Investment Management (Hong Kong) Limited FIL Investment Management (Hong Kong) Limited was established in Hong Kong since 1981 which is the subsidiary of FIL Limited (Fidelity International). FIL Investment Management (Hong Kong) Limited currently offers more than 80 mutual funds to investors through over 100 distributors in Hong Kong, including retail banks and insurance companies. FIL Limited was established in Bermuda in 1969, serving major world markets by providing investment products and services to individuals and institutional investors outside the U.S.. The FIL Limited organization has offices in 23 countries including the UK, Germany, Japan, Hong Kong and India. Franklin Templeton Investments (Asia) Limited Franklin Templeton Investments (Asia) Limited is a wholly owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization known as Franklin Templeton Investments. The Group has been in the investment management business for 60 years with offices in 29 countries and growing presence in Asia. Major investment services include retail mutual funds distribution, institutional and private equities services. Invesco Asset Management Asia Limited Invesco is part of the Invesco Ltd group of companies with office in 20 countries. Invesco Ltd provides a comprehensive array of enduring investment solutions for retail, institutional and high net worth clients around the world. Invesco is one of the most experienced global investment management company in Asia, having invested in the region since Today Invesco has a comprehensive coverage in the Asia Pacific region with offices in Hong Kong, China, Singapore, Japan, Taiwan and Australia. They have investment capabilities in domestic and specialist Asian products, available to local investors as well as investors worldwide. Over 50 retail funds encompassing equity, bond, balanced and money market vehicles are made available to investors in Hong Kong. Invesco funds are distributed through all major financial institutions including retail and private banks, independent financial consultants and insurance companies. Important Reminder You are strongly reminded to read carefully the offering documents of the underlying funds corresponding to each of the investment choices available under these plans prior to making your investment decision. The offering documents of the respective underlying funds will be made available by the Company. You must also ensure that you fully understand the investment objectives and risk factors of the underlying fund. DL/M039/2.1/1106 Disclaimer The information of the investment choices is provided by the respective underlying funds investment managers. Please refer to the relevant offering documents of the underlying funds for details, including the risk factors of the underlying funds, in particular those associated with investment in emerging markets. The offering documents of the underlying funds might be changed from time to time to reflect the latest changes. 1

3 The investment choices available under DSL Investment-Linked Plan Series include the following: Investment Objectives Global Equity Underlying Fund Management Fee (p.a.) Templeton Global Equity Income Fund A Acc To provide a combination of current income and long-term capital appreciation by investing in a diversified portfolio of equity securities worldwide. 1 Invesco Global Small Cap Equity Fund A Shares To achieve long-term capital growth through a portfolio of investments in international securities. It invests primarily in equity and equity related securities of smaller companies, which are quoted on the world s stock markets. Regional Equity Fidelity Funds ASEAN Fund A Acc Invests principally in equity securities quoted on stock exchanges in Singapore, Malaysia, Thailand, Philippines and Indonesia. Fidelity Funds South East Asia Fund A Acc Invests principally in equity securities quoted on stock exchanges in the Pacific Basin excluding Japan. The underlying fund may invest up to 10% of its net assets in China A Shares. Templeton Asian Growth Fund A Acc To achieve long-term capital appreciation by investing primarily in equity and equity related securities of entities which derive a significant proportion of their profits or have their area of primary activity in selected Asian countries, excluding Australia, Japan and New Zealand. 1.85% 1 Franklin Mutual European Fund A Acc To provide investors with capital appreciation as principal objective and income as secondary objective. Under normal market conditions, it will invest in equity securities and debt securities convertible into common or preferred stock of companies incorporated or having their principal activities in European countries. It may invest up to 100% of their total net assets in structured products, mortgage and asset-backed securities and derivatives (such as credit default swaps, forwards and options), and is subject to significant liquidity and counterparty default risks. 1 Invesco Greater China Equity Fund A Shares To achieve long-term capital growth by investing in securities of Greater China. 2

4 Investment Objectives Single Country Equity Franklin Templeton Japan Fund A Acc To seek long-term capital appreciation by investing primarily in equity securities of issuers incorporated or having their principal business activities in Japan. Underlying Fund Management Fee (p.a.) 1 Franklin India Fund A Acc To achieve capital appreciation by investing primarily in equity securities of entities, which are incorporated, or have their principal business activities in India. 1 Franklin U.S. Opportunities Fund A Acc To seek capital appreciation by investing primarily in equity securities of U.S. issuers demonstrating accelerating growth, increasing profitability, or above-average growth or growth potential. 1 Invesco PRC Equity Fund A Shares To achieve long-term capital growth by investing in transferable securities of companies with substantial exposure to mainland China. 2.00% Emerging Market Equity Fidelity Funds Emerging Markets Fund A Acc Invests principally in areas experiencing rapid economic growth including countries in Latin America, South East Asia, Africa, Eastern Europe (including Russia) and the Middle East. Fidelity Funds Emerging Europe, Middle East and Africa Fund A Acc To generate long-term capital growth through investing primarily in securities of companies having their head office or exercising a predominant part of their activity in less developed countries of Central, Eastern and Southern Europe (including Russia), the Middle East and Africa that are considered as emerging markets according to the MSCI EM Europe, Middle East and Africa Index. Templeton BRIC Fund A Acc To seek capital appreciation by investing primarily in equity securities of companies in Brazil, Russia, India and China (including Hong Kong and Taiwan) ( BRIC ) or in equity securities of companies which derive the principal portion of their revenues or profits from BRIC economies or have the principal portion of their assets in BRIC economies. 2.10% 1 Templeton Latin America Fund A Acc To seek long-term capital appreciation by investing primarily in equity and, as an ancillary matter, in debt securities of issuers located in the Latin American region. 1.90% 1 3

5 Investment Objectives Sector Equity Underlying Fund Management Fee (p.a.) Fidelity Funds Global Property Fund A Acc To achieve a combination of income and long-term capital growth primarily from investments in securities of companies principally engaged in the real estate industry and other real estate related investments. It is authorized by the Securities and Futures Commission (SFC) in Hong Kong under the SFC Code on Unit Trusts and Mutual Funds and not under the SFC Code on Real Estate Investment Trusts. Such authorization does not imply official approval or recommendation by the SFC in Hong Kong. The underlying REITs may not necessarily be authorized by the SFC; and the dividend policy/payout policy of it is not representative of the dividend policy/ payout policy of the underlying REITs. Invesco Asia Infrastructure Fund A Shares (Acc) To achieve long-term capital growth from investments in a diversified portfolio of Asian securities of issuers which are predominantly engaged in infrastructure activities. Balanced Fidelity Funds Fidelity TargetTM 2020 Fund A To provide long-term capital growth for investors planning to withdraw substantial portions of their investment in the year It will typically invest in equities, bonds, interest bearing debt securities and money market securities throughout the world, in accordance with an asset allocation that will become increasingly conservative as the year 2020 is approached. 0.70% 1.80% 2 Fidelity Funds Growth & Income Fund A Acc It will be managed with a more conservative approach towards seeking high current income and capital growth primarily through investment in a combination of equities and bonds. It will appeal to investors seeking regular income and moderate capital growth but who prefer a lower level of risk than that normally associated with equity investment only. 1.25% Templeton Global Income Fund A Acc To maximize current income while maintaining prospects for capital appreciation. Under normal market conditions, it will invest in a diversified portfolio of debt and equity securities worldwide. It may invest up to 100% of their total net assets in structured products, mortgage and asset-backed securities and derivatives (such as credit default swaps, forwards and options), and is subject to significant liquidity and counterparty default risks. 1.35% 1 4

6 Investment Objectives Bond Underlying Fund Management Fee (p.a.) Templeton Global Total Return Fund A Acc Consistent with prudent investment management, its investment objective is to maximize total investment return consisting of a combination of interest income, capital appreciation and currency gains. Under normal market conditions, it will invest in a portfolio of fixed and floating rate debt securities and debt obligations of governments, government-related or corporate issuers worldwide as well as in certain financial derivative instruments. It may invest up to 100% of their total net assets in structured products, mortgage and asset-backed securities and derivatives (such as credit default swaps, forwards and options), and is subject to significant liquidity and counterparty default risks. 1.05% 1 Invesco Emerging Local Currencies Debt Fund A Shares (Acc) To achieve long-term capital growth and high income by investing at least two thirds of its total assets in a flexible allocation of cash, debt securities (including corporate bonds, and bonds issued by supranational organisations) and financial derivative instruments which are denominated in the currency of emerging market countries. Its global exposure to derivatives will not exceed 100 percent of its total net asset value (NAV) and hence the total exposure may not exceed 200 percent of its NAV on a permanent basis. Investors should note the specific risk warning contained in the offering document regarding investment in Russia, investing in derivatives and investing in developing markets. Financial derivatives instruments may be used for the purpose of meeting the investment objective; and such investment policies or portfolio management techniques may lead to a higher volatility to the net asset value. Money Market Invesco USD Reserve Fund A Shares To provide the maximum return with a high degree of security from a portfolio of short-dated fixed interest securities which have an initial or residual maturity not exceeding 12 months. Investors should note that the purchase of a unit/share in a scheme is not the same as placing funds on deposit with a bank or deposit-taking company, that the management company has no obligation to redeem units/shares at the offer value and that the scheme is not subject to the supervision of the Hong Kong Monetary Authority. 0.45% Notes: 1 The Underlying Fund Management Fee includes Management Fee and Maintenance Charge (up to the percentage as set out for each underlying fund). For details, please refer to the corresponding offering documents of the underlying funds. 2 This shows the upper limit of the charge range. 3 Charges are subject to change. The Company reserves the right to revise the above charges and to impose new charges from time to time. Any revision or imposition of new charges will be subject to a prior one month written notice. 4 Underlying Fund Management Fee is reflected in the unit price of the underlying fund. 5 Base currency of the above underlying funds is US dollars. 5

7 DSL Investment-Linked Plan Series Investment Choice Brochure YOU ARE STRONGLY REMINDED that DSL INVESTMENT-LINKED PLAN SERIES are long term insurance contract. It may NOT be suitable for those who are seeking short term financial gains. Early termination of the policy may subject to reduction of the value of your capital and bonus awarded. It is important for you to thoroughly understand the levels of risks associated with your investment tool which best matches your risk tolerance and personal financial circumstances. Investment Allocation The performance of your investment is calculated with reference to the fluctuation of the underlying funds. However, the performance of your investment choices may be lower than the underlying funds due to charges of the plan. The allocation of units to the policy is notional and is solely for the purpose of determining the Account Value. Units of the underlying funds are legally and beneficially owned by the Company. 6

8 Enquiries and Complaints Handling In Case of Enquiries: Please contact your Insurance Consultant or the Company s Customer Service Hotline on for assistance. In Case of Complaints: You might consider first approaching the Company to lodge the complaint which would give us a chance to look into the matter with a view to resolving your complaint at an early stage. Under the Code of Conduct for Insurers issued by The Hong Kong Federation of Insurers, the Company is required to have effective procedures in place for the proper handling of insurance complaints. Otherwise, if you are still not satisfied with the way that the complaint has been handled, depending on the nature of your complaints, you may choose to contact any of the following parties for assistance: (1) Insurance Agents Registration Board; (2) The Hong Kong Confederation of Insurance Brokers; (3) Professional Insurance Brokers Association; (4) The Insurance Claims Complaint Bureau; or (5) Office of the Commissioner of Insurance. You are again reminded that you should not purchase this product unless you understand it and it has been explained to you how it is suitable for you. The final decision is yours. Dah Sing Life Assurance Company Limited (Incorporated in Bermuda with limited liability) Address: 20/F, Island Place Tower 510 King s Road, North Point, Hong Kong Tel: (852) Website: 7