Global mirror fund guide

Transcription

1 Fund Management Groups Global mirror fund guide March 2015

2 Friends Provident International Limited Singapore Branch (Friends Provident International) has prepared this guide to help you choose the mirror funds that can be accessed via the Global Wealth range of products. Friends Provident International operates a range of funds known as mirror funds (also referred to as Investment-Linked Product Sub-Funds). The concept is simple: agreements have been set up with investment houses worldwide allowing us to link to specially selected funds chosen on the basis of performance and investment expertise. These mirror funds can only be accessed using Friends Provident International investment products. This guide has been produced to help you choose the mirror funds you would like to include as investments in your savings plan. It should be read in conjunction with the relevant product literature, together with our fund factsheets, which will give you access to the information necessary to help with your investment decisions. The product literature, product highlights sheets and fund factsheets can be found on our website at Each ILP Sub-Fund offered through the Global Wealth range of products is a Specified Investment Product (SIP). A SIP is a class of investment products defined by the Monetary Authority of Singapore (MAS). Generally, (although not in all instances) financial advisers have to carry out more due diligence, including customer knowledge assessment, when advising about a SIP. This document is not intended as an offer to invest and we recommend that you seek professional advice from your financial adviser before making any final decisions. 2 Global mirror fund guide

3 The mirror funds Key features of the fund range Specialist expertise from some of the world s leading investment houses investment management by specialists in specific areas, creating the potential to achieve even higher capital growth. Easy access to top performing funds at low investment levels not normally available to individual investors. Flexibility to construct a portfolio tailored to your individual risk profile. The investment marketplace and our range of funds are continually monitored to identify new investment opportunities. Fund prices may go down and up depending upon investment performance. Past performance should not be viewed as a reliable guide of future performance. Please note that securities held within a fund may not be denominated in the currency of that fund and, as a result, fund prices may rise and fall purely on account of exchange rate fluctuations. You may get back less than you have paid in. Valuation frequency and availability of unit prices Valuations are carried out on all business days in the UK as appropriate for the individual fund. Unit prices are issued daily at approximately 5 p.m (UK time) and are available on our website. Units in the mirror funds are bought and sold using the bid (selling) price. Please note that some mirror funds do not price on a daily basis any affected funds have been clearly marked on the individual fund factsheets, available on our website at Charges Charges are deducted by both Friends Provident International and the underlying investment managers at each valuation point before calculating the unit price. Friends Provident International charges (payable directly by you) You will need to pay a mirror fund administration charge of 1.2%. There is no charge for switching funds, although switching to a fund whose currency differs from the currency of your plan, may involve a cost associated with currency exchange. However, we reserve the right to charge for switches under certain conditions. Please refer to the Policy conditions for further details. Any sales and/or redemption charges will be determined by the terms of your Policy conditions. Underlying investment managers charges (These charges are payable by the mirror fund from invested proceeds.) These charges can be found in the table on the following pages. Please refer to the AMC (annual management charge) column. Risk profiles Each mirror fund has been carefully assessed and a risk profile allocated: Grade 1 Funds offering a conservative return similar to money market rates. Grade 2 Low risk funds which aim to offer security and potential growth. Grade 3 These funds take a balanced approach to investment by holding a diverse portfolio of assets. Grade 4 A more focused asset exposure which provides good growth potential, but with the risk of short-term volatility. Grade 5 These aggressive funds balance the risk of high volatility with the potential for high capital growth. Product Highlights Sheets (PHSs) Friends Provident International has produced a PHS for each of the mirror funds which are available to investors in Singapore. These provide full details of the funds available, including charges, risks, investment objectives and policies. You can access these at product-highlight-sheets.jsp. Global mirror fund guide 3

4 The mirror fund range Fund Name Absolute Return 4 Global mirror fund guide Currency Fund Code Risk Rating AMC* Amundi Absolute Volatility World Equities USD R % Schroder Asian Bond Absolute Return USD M % Commodity & Energy Amundi Equity Global Aqua USD P % BlackRock New Energy USD R % BlackRock World Gold USD R % BlackRock World Gold (SGD HDG) SGD R % BlackRock World Mining USD R % BlackRock World Mining (SGD HDG) SGD R % DWS Global Agribusiness USD R % Deutsche Noor Precious Metals Securities USD R % Investec GS Global Energy (USD) USD R % Investec GS Global Energy (SGD HDG) SGD R % Martin Currie GF Global Resources USD R % Convertible F&C Global Convertible Bond USD R % Currency Euro Investec GS Euro Money EUR R % Currency Other JPMorgan Liquidity SGD SGD R % Currency Sterling Investec GS Sterling Money 4 GBP R % Currency US Dollar JPMorgan USD Money Market USD J % Equity Asia Pacific ex Japan Aberdeen Global Asia Pacific Equity USD R % Allianz Emerging Asia Equity USD J % Allianz Little Dragons USD J % Allianz Total Return Asian Equity USD R % BlackRock Asian Dragon (USD) USD R % BlackRock Asian Dragon (SGD HDG) SGD R % Invesco Asian Equity USD R % First State Asian Equity Plus USD R % Equity Asia Pacific Single Country HSBC Hong Kong Equity USD J % JPMorgan Taiwan USD R % Equity Australia Baring Australia USD M % Equity China Aberdeen Global Chinese Equity USD R % First State China Growth USD R % HSBC Chinese Equity USD J % Equity Emerging Europe Baring Eastern Europe USD P % Jupiter New Europe EUR R % F&C Eastern European 1 USD R % Equity Emerging Markets Allianz BRIC Equity USD R % Deutsche Invest I Africa USD R % JPM Emerging Markets Small Cap USD R % Schroder Frontier Markets Equity USD R % Templeton BRIC USD R % Templeton Emerging Markets USD R % 1 The annual management charge (the AMC for the F&C Eastern European fund was decreased from 1.75% to 0.80% from 01 May 01 August From 02 August 2014, the AMC will be 1.30%.

5 Fund Name Currency Fund Code Risk Rating AMC* Equity Ethical F&C Responsible Global Equity (GBP) GBP P % Schroder Global Climate Change Equity USD R % Equity Europe Inc UK Fidelity Euro Blue Chip EUR R % Investec GS European Equity USD R % Schroder European Equity Yield (USD HDG) USD R % Schroder European Equity Yield (SGD HDG) SGD R % Equity Financial Jupiter Global Financials USD R % Equity Greater China Baring Hong Kong & China USD R % First State Greater China Growth USD R % Henderson Horizon China USD R % Equity India Aberdeen Global Indian Equity USD R % Equity International F&C Responsible Global Equity (USD) USD L % HSBC Amanah Global Equity Index USD P % Invesco Global Select Equity USD R % Investec GS Global Equity USD J % Investec GS Global Strategic Equity 4 USD R % M&G Global Basics USD R % M&G Global Leaders USD R % Templeton Global USD R % Jupiter Merlin International Equities Portfolio USD R % Equity Japan Allianz Japan Equity 4 USD R % Eastspring Japan Dynamic (SGD HDG) SGD R % Equity Korea Baring Korea Feeder USD J % Equity Latin America Parvest Equity Brazil 3 USD P % Schroder Latin American USD J % Templeton Latin America USD R % Equity MENA (Middle East & North Africa) Schroder Middle East USD R % Equity Other Specialist Deutsche Invest I Global Infrastructure USD R % Invesco Asia Infrastructure USD R % JPM Global Unconstrained Equity USD L % Equity Pharmaceuticals, Health & Biotechnology Invesco Global Health Care USD R % Equity Smaller Companies USA Schroder US Smaller Companies USD R % Equity Technology, Media & Telecommunications Aberdeen Global Technology Equity USD R % Fidelity Global Telecommunications EUR J % Invesco Global Technology USD J % Equity UK Invesco UK Equity (GBP) GBP R % Invesco UK Equity (USD) USD J % Equity USA BlackRock US Flexible Equity USD R % Fidelity America USD R % Vanguard US 500 Stock Index 2 USD R % 2 Vanguard is a trademark of the Vanguard Group, Inc. and has been licensed for use by Friends Provident International Limited. The FPIL Vanguard Mirror Fund is not sponsored, endorsed, sold or promoted by the Vanguard Group, Inc. and the Vanguard Group, Inc. makes no representation regarding the advisability of investing in the fund. Global mirror fund guide 5

6 Fund Name Currency Fund Code Risk Rating AMC* Fixed Interest Asia Pacific Templeton Asian Bond (USD) USD R % Fixed Interest Emerging Markets HSBC GEM Debt Total Return USD R % Parvest Bond Best Selection World Emerging 3 USD P % Fixed Interest EUR Fidelity Euro Bond EUR J % Fixed Interest EUR Corporate Bond Invesco Euro Corporate Bond EUR R % Fixed Interest Global Baring International Bond (USD) USD R % Mellon Global Bond (EUR) EUR P % Mellon Global Bond (GBP) GBP R % Mellon Global Bond (USD) USD R % Schroder Global Corporate Bond (EUR) EUR P % Schroder Global Corporate Bond (USD) USD R % Schroder Strategic Bond (USD) 4 USD R % Templeton Global Bond (USD) USD R % Templeton Global Bond (SGD HDG) SGD R % Templeton Global Total Return (EUR) EUR L % Templeton Global Total Return (USD) USD R % Templeton Global Total Return (SGD HDG) SGD R % Fixed Interest Global High Yield Baring High Yield Bond USD R % Investec GS Global Strategic Income USD R % Fixed Interest USD Government Franklin US Government USD M % Mixed Asset Aggressive Allianz Oriental Income USD P % CGWM Select Affinity GBP P % CGWM Select Global Affinity USD P % CGWM Select Global Affinity (SGD HDG) SGD R % CGWM Select Global Opportunity USD R % CGWM Select Global Opportunity (SGD HDG) SGD R % Mixed Asset Balanced CGWM Select Diversity GBP P % CGWM Select Global Diversity USD R % CGWM Select Global Diversity (SGD HDG) SGD R % Fidelity Multi Asset Strategic (EUR) EUR R % Fidelity Multi Asset Strategic (USD) USD R % Mixed Asset Flexible CF Miton Special Situations (GBP) GBP R % CF Miton Special Situations (USD) USD R % CGWM Select Opportunity GBP R % Schroder Global Multi-Asset Income (GBP HGD) GBP R % Schroder Global Multi-Asset Income (USD) USD R % Property Asia Henderson Horizon Asia-Pacific Property Equities USD P % Property International Fidelity Global Property (USD) USD P % Schroder Global Property Securities (USD) USD P % * The AMC (annual management charge) is charged by the underlying investment manager annually to cover the costs of running the fund. This charge is payable by the mirror fund from invested proceeds. 3 The Parvest range of funds is managed by BNP Paribas Investment Partners. 4 Due to the fund segregation, the previous fund code of M65, P92, J74 and R63 have been changed to R171, R172, R173 & R174 with effect on 25 March Global mirror fund guide

7 Profiles supplied by fund management groups (as at January 2015) Who we are Aberdeen Asset Management is a global asset manager and a FTSE 100 company. We are based in 25 countries with 33 offices, over 600 investment professionals and around 2,500 staff overall. As a pure asset manager, without the distractions of other financial services activities, we are able to concentrate all our resources on our core business. We believe this is key to our performance. Assets are only managed for third parties, not our own balance sheet, which helps reduce conflicts of interest. We dislike unnecessary obscurity and complexity so our investment processes strive to be simple and clear. We aim to seek out investments that display those qualities too. Finally, we focus on taking a long-term view of our investments. What we do Our business is predominantly the active management of financial assets, using first-hand research to make our investment decisions. Active investment spans equities, fixed income securities and property, sharing resources and a common investment approach. We have also developed a solutions business that can blend our abilities across different asset classes to provide tailored investment outcomes to meet specific client needs. This can incorporate skills in both quantitative equities and alternatives. Our investment expertise is delivered through both segregated and pooled products allowing us to serve a range of clients from institutions to private investors. Amundi s history dates back to the 1950s when they started managing assets for their clients. Amundi ranks first in Europe and in the Top 10 worldwide in the asset management industry (as of 30 June 2014). Located at the heart of the main investment regions in more than 30 countries, Amundi offers a comprehensive range of products covering all asset classes and major currencies. Amundi has developed savings solutions to meet the needs of more than 100 million retail clients worldwide and designs innovative, high-performing products for institutional clients which are tailored specifically to their requirements and risk profile. The Group contributes to funding the economy by orienting savings towards company development. Amundi has become a leading European player in asset management, recognised for: Product performance and transparency Quality of client relationships based on a long-term advisory approach Efficiency in its organisation and teams promise to serving its clients Commitment to sustainable development and socially responsible investment policies. We have been managing collective investment schemes and discretionary funds since 1956 and are Germany s second oldest investment company. We are part of Allianz Global Investors. Our teams can be found in 23 locations in 18 countries, with a strong presence in the US, Europe and Asia- Pacific. With more than 500 investment professionals and an integrated investment platform, we cover all major business centres and growth markets. Our global capabilities are delivered through local teams to ensure best-in-class service. Allianz Global Investors is committed to protecting and enhancing our clients wealth. With experts and dedicated research teams located worldwide, we are able to generate the decisive insights we need to deliver forward-looking investment strategies and customised solutions for our clients. The big difference offered by Allianz Global Investors? It is the confidence we aim to instill in our clients, based on the philosophy that runs through all we do. Understand. Act. Baring Asset Management is an international investment management firm with offices, clients and business lines spanning the world s major markets. We provide investment management services within developed and emerging equity and bond markets to investors worldwide, and had 32.6 billion of assets under management as at 31 August Since the earliest days in 1762, the common thread linking our past to our present has been our ability to help clients benefit from changes in markets. This tradition continues today as we invest client assets across global markets using the proprietary insights generated by a team of around 120 investment professionals. International activity has been and will continue to be the cornerstone of Barings business as a leading global fund manager. By combining insights that cut across location, sector and asset classes, Barings offers a unique world-view into today s economies and markets. Our investment professionals combine an informed perspective with local knowledge and presence to seek out investment opportunities with the potential to perform well and deliver the returns investors demand. Today, Barings operates as a subsidiary of MassMutual Financial Group, a leading diversified financial services organisation. Global mirror fund guide 7

8 Fund management groups BNP Paribas Investment Partners is the dedicated, autonomous asset management business of BNP Paribas Group and offers the full range of asset management services to both institutional and retail clients around the world. A client-centric organisation, BNP Paribas Investment Partners is structured around three business lines: institutional, distribution and Asia Pacific & emerging markets. We have some 700 investment professionals globally, each specialising in a particular asset class or product type. BNP Paribas has been operating in the asset management field since the 1960s and BNP Paribas Investment Partners is the 7th largest asset manager in Europe.* * Source: BNP Paribas Investment Partners, as of 30 June Canaccord Genuity Wealth Management was founded in 1996 following acquisition of Greig Middleton (CI), with offices in Guernsey, Jersey and Isle of Man. Canaccord Genuity Wealth Management meets investors individual needs by searching the globe for investment opportunities. Drawing from our global network we look at both the bigger picture and the finer details. This enables us to deliver long-term investment strategies, as well as informed, near-term solutions that make a difference locally to wealth management clients in Canada, Australia, the UK and Europe. In the UK and Europe, Canaccord Genuity Wealth Management is an award winning wealth manager committed to providing investors with a broad array of wealth management solutions. Our Investment Professionals manage and administer approximately 11 billion of assets on behalf of over 12,000 clients from offices in London, Guernsey, Jersey and the Isle of Man. BNY Mellon s multi-boutique Investment Management model encompasses the investment skills of worldclass specialist investment managers, including Insight, Newton, Standish, and Walter Scott, who are among the most advanced and highly regarded names in the industry. Tracing its roots to 1784, each investment manager enjoys complete investment autonomy and focuses solely on managing money. Investment strategies are managed in a highly specialised boutique-style environment that values independence, flexibility and entrepreneurship in each investment discipline, while offering direct access to the extensive resources and stability of BNY Mellon, enabling us to offer a range of capabilities spanning the asset class spectrum. Our clients include some of the world s largest pension funds, national and local governments, supranational institutions, sovereign investors, corporate treasuries and family offices. We are also a leading provider of mutual funds, sub-advisory services and have strong partnerships with financial institutions throughout our major markets. Established in 1988, BlackRock help millions of people, as well as the world s governments and largest institutions, pursue their investing goals. We offer: A comprehensive set of innovative solutions. Global market and investment insights. Sophisticated risk and portfolio analytics. We work only for our clients, who have entrusted us with managing $4.6 trillion,* earning BlackRock the distinction of being the world s largest fiduciary investment manager. * AUM as at 30 June Source: Pensions & Investments as at 31 December Global mirror fund guide DWS Investments, part of Deutsche Asset and Wealth Management, was founded in 1956 in Frankfurt/Main. The company is one of the Top 10 companies worldwide and is one of the leading mutual fund companies in Europe. DWS has outstanding expertise in all important markets worldwide. Its international network enables it to identify market trends at an early stage and swiftly translate them into investment ideas. By bringing the right products to market at the right time, DWS turns current market conditions into investment opportunities. Established its Asian regional headquarters in 1994 in Hong Kong, Eastspring Investments, part of Prudential Corporation Asia, is Prudential s 1 asset management business in Asia. We are one of Asia s largest asset managers, with operations in 14 markets (including sales and corporate offices in the US, UK and Luxembourg), almost 2,500 employees and close to US$118 billion ( 73 billion) in assets under management (as at 30 September 2014). We were named Asia s largest retail fund manager for 2014 in an annual survey by Asia Asset Management 2. More than one-third of Eastspring Investments total assets are sourced from third party clients including a wide range of retail and institutional investors. Eastspring Investments also manages the assets of life and pension products sold by Prudential Group. In the Asia region, we operate in Japan, South Korea, Taiwan, Hong Kong, Singapore, Indonesia, Malaysia, Vietnam, the United Arab Emirates, and have joint venture operations in China, Hong Kong and India.

9 Fund management groups Together with Eastspring Investments, Prudential Corporation Asia (PCA) comprises the life insurance businesses of Prudential plc in Asia spanning 13 markets: Cambodia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam. Prudential plc is an international financial services group with operations spanning Asia, the US and the UK. 1 Prudential plc, incorporated and with its principal place of business in England, and its affiliated companies constitute one of the world s leading financial services groups and has been in existence for over 166 years. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America. 2 Asia Asset Management Fund Manager Survey 2014, (Sept 2014). This annual survey ranks participating fund managers in Asia ex Japan, Australia and New Zealand ( region ) based on assets sourced in the region as of June 30, F&C is a wholly owned subsidiary of BMO Global Asset Management (Europe) Limited, which is in turn an indirect wholly owned subsidiary of Bank of Montreal (BMO), a publicly-held Canadian diversified financial services company. F&C is a leading diversified multi-specialist investment management group with a heritage spanning more than 140 years. Alongside its core institutionally focused business, the Group includes F&C REIT, a pure real-estate manager. The group is also an active shareholder with a leading franchise in governance and sustainable investment. F&C has been a part of BMO GAM since May 2014 and is a core component of BMO Financial Group s global asset management business, which encompasses more than $271 billion in combined discretionary and nondiscretionary assets under management as of March Fidelity Worldwide Investment is a recognized leader in the field of investment management. Since its foundation in 1969, the company has experienced significant growth, which is a testament to the success it has achieved, managing investments for major institutions and many private investors around the world. Fidelity s investment style relies on fundamental research of companies and a strict bottom-up portfolio construction discipline. This means Fidelity s analysts and portfolio managers look closely at a company s balance sheet and future plans; meet regularly with and question its management; and then speak to its competitors, suppliers, customers and anyone else who might give them information that helps to assess whether the investment is a good one. Fidelity has investment centres in many major cities around the world, employing over 6,500 people in 25 countries.* * Source: Fidelity Worldwide Investment and its subsidiaries as at 30 June First State Investments is the international operation of Colonial First State Global Asset Management ( CFSGAM ), the consolidated asset management division of the Commonwealth Bank of Australia. CFSGAM is one of the largest Australian-based investment managers with offices in Sydney, Melbourne, Auckland, London, Edinburgh, Paris, Frankfurt, New York, Louisville, Dubai, Hong Kong, Singapore, Jakarta and Tokyo. First State Investments offers a range of product solutions to institutional and retail investors globally across a diverse range of asset classes, including Australian equities, worldwide equities, Asia Pacific and Global Emerging Markets equities, global resources, global property securities, global listed infrastructure securities, global fixed income and credit, emerging markets debt, short-term investments and direct infrastructure investments. Our business has grown and evolved consistently from its early beginnings in Our approach to investing is driven by a commitment to providing the best possible outcomes over the long term for our investors. To achieve this, we ensure our interests are aligned with those of our investors and we uphold a culture which always acts in the best interests of our clients. Since being established in 1947, Franklin Templeton Investments has concentrated on delivering investment excellence to our investors. Our disciplined investment strategies, experience of many market cycles and a rigorous focus on risk management have helped us to become one of the world s largest asset managers. With over 600 investment professionals and offices in more than 35 countries, we have a detailed understanding of the markets and companies in which we invest. We believe our extensive global presence makes us uniquely positioned to identify opportunities and mitigate risk in today s increasingly complex investment markets. We offer a wide range of investment funds covering all the main assets classes, market sectors and geographical areas. Global mirror fund guide 9

10 Fund management groups Henderson Global Investors is a global asset manager focused on delivering excellent investment performance and service to our clients. When Henderson was founded in 1934, the company was not named after a fund manager, an executive or an office location rather, it was named after its first client. 80 years of continuous service have nurtured a trusting relationship with clients and the group continues to serve the Henderson family to this day. Henderson is now an independent asset manager. It is duallisted on the London Stock Exchange and the Australian Securities Exchange. Henderson s clients range from global institutions to retail investors in a variety of domestic markets worldwide. With investment expertise across every asset class, Henderson offers clients access to all major markets around the globe, with core capabilities in Global Equities, European Equities, Global Fixed Income, Multi-Asset and Alternatives. HSBC Global Asset Management, the investment management business of the HSBC Group, serves HSBC s worldwide customer base of retail and private clients, intermediaries, corporates and institutions invested in both segregated accounts and pooled funds. HSBC Global Asset Management fulfils its purpose of connecting HSBC s clients with investment opportunities around the world through an international network of offices in approximately 30 countries, delivering global capabilities with local market insight. HSBC Global Asset Management s history of serving HSBC Group s clients traces back to the bank s foundation in Since 1973, the business has expanded into new markets and developed new areas of expertise. In 1994, a core proprietary global investment management business was formed HSBC Asset Management. Today, HSBC Global Asset Management is a global asset management firm combining the advantages of worldwide presence with local knowledge and service. Invesco is part of a leading independent global investment management company Invesco Ltd, which was originally incorporated in Dedicated to helping people worldwide build their financial security, the company strives to deliver outstanding performance and service to both retail and institutional clients. Investors are able to access the investment expertise of fund managers located across all the world s major markets through a comprehensive range of investment products which include equity, bond, real estate and structured investments. Investec Asset Management is a specialist provider of active investment products and services to institutional and individual investors. Established in South Africa in 1991, the firm has been built from a small start-up into an international business. Our clients include some of the world s largest private and public sector pension funds, insurers and corporates, and range from foundations and central banks to intermediated and direct investors. The business has grown largely organically from domestic roots in Southern Africa to a position where we proudly serve a growing international client base from the Americas, the UK and Continental Europe, Asia, the Middle East, Australia and Africa. The firm seeks to create a profitable partnership between clients, shareholders and employees and our aim is to exceed our clients investment and client service expectations and to manage their money to the highest possible standard. Investec Asset Management is a significant component and independently managed entity within the Investec Group, which is listed in London and Johannesburg. 10 Global mirror fund guide

11 Fund Management Groups With assets under management of USD 1,706,584 million,* J.P. Morgan Asset Management is a global leader in investment and wealth management. The company has a long and distinguished record of success that can be traced back to the late 19th century with our heritage institutions; however, its most recent period began in December 2000, with the establishment of its parent group, JPMorgan Chase & Co., following the merger of J.P. Morgan & Co. Incorporated and The Chase Manhattan Corporation. This had followed the acquisition of Robert Fleming Holdings Limited by The Chase Manhattan Corporation in August JPMorgan Chase & Co. has since merged with Bank One Corporation in July 2004, and acquired The Bear Stearns Companies Inc. in May We are a truly global investment manager, operating across regions: the Americas, EMEA (Europe, Middle East and Africa), and Asia, with 20,965* staff and a presence in more than 30 countries worldwide, which allows us to have a globally integrated, local presence in all major economic regions and time zones. Our 903* investment professionals are mainly based in the five major investment management hubs at London, Hong Kong, Tokyo, New York and Columbus. This structure ensures that our knowledge, experience and resources are shared around the globe, providing our clients with a competitive information advantage and truly global investment expertise. In short, our comprehensive understanding of world markets across highly diversified range of asset classes gives us greater potential to enhance returns. Our clients benefit from a range of investment activities, which include: Pension Fund Management Charitable Fund Management Institutional Fund Management Reserves Management Insurance Money Management Third Party Distribution Services Sub-advisory Services Mutual Fund Management. The strategies we offer encompass all major asset classes, and span all financial markets across the world. Strategies can be tailored to meet a comprehensive range of investor requirements, and we hold leadership positions in most areas of our business. * All as at 30 June Jupiter Asset Management ( Jupiter ) was founded in 1985 with the aim of delivering consistent and sustainable investment outperformance across its diverse range of actively managed products over the medium to long term without exposing our clients to unnecessary risk. While Jupiter s headquarters are in the UK, our international expansion enables us to provide investment solutions to investors in Europe and Asia. In addition, our investment professionals invest across a global spectrum in both developed and emerging markets. The broad range of strategies includes regional equities as well as themed and sector equities, convertibles, fixed income and absolute return funds. Jupiter s culture combines the spirit and flair of an investment boutique with the strength and resources of an established institution. Since 1931, when we launched the UK s first unit trust, we have believed in offering our clients straightforward products together with clear and balanced information to help them make the right investment decisions for their needs. We currently look after over 325,000* investors and have over 253 billion under management. Our fund managers are highly skilled specialists who don t simply follow the latest investment fashions. Instead, they each have their own individual and rigorous approach based on delivering the best results for their clients investments over the long term. One of the largest active managers of equities in the UK, our philosophy is based on a bottom-up approach to investing. Our aim is to develop a boutique culture that enables us to generate stock selection alpha for a large scale of assets. As one of the largest fixed income managers in the UK with a history of firsts, (including the launch of the first high yield corporate bond fund in 1998), our focus is on in-house research to identify investment opportunities where asset prices have moved away from those implied by long-term fundamentals. M&G Real Estate, our property fund management arm, is one of the largest property investors in the UK with over 140 years experience in real estate investment. M&G Real Estate adopts a disciplined approach to property investing, combining market forecasts and research views on rental growth, with the detailed market knowledge of surveyors. In January 2013 the M&G Property Portfolio became the first bricks and mortar property fund (available to retail investors) to convert to PAIF status, paving the way for others to follow. Global mirror fund guide 11

12 Fund management groups M&G s range of multi-asset funds can hold a diversified mix of equities, bonds, property, cash and even currencies in a single portfolio. They combine assets that are attractively priced, can perform differently in various market conditions and can also generate both income and capital growth in varying proportions. Our fund range is designed to provide attractive investment choices across a range of asset classes including equities, fixed income and property. Specific client needs accommodated by our funds, range from US equities to leveraged loans. When you choose M&G, you are investing in a business built on conviction, which has a can-do attitude and challenges the consensus. This approach is reflected in everything we do. * Source: M&G Statistics as at 7 August Source: M&G Statistics as at 30 June Miton is a leading multi-asset and equity fund management specialist. We have a history stretching back to 1986, and in that time we have been managing money through all sorts of market conditions, while learning, developing and ultimately delivering for investors in our funds and investment trusts. How we are different... We are investment led. Our team, headed by Gervais Williams, is passionate about investing and delivering positive returns in spite of investment challenges. Our fund managers closely manage their volatility with an aim to better sustain our performance through market cycles. We are independently-minded and do not necessarily follow what other fund managers may be doing. Most of our funds are not constrained by traditional benchmarks giving the fund managers the freedom to invest according to their convictions. We are active equity specialists, focused on managing money for a wide range of global clients with our talented, experienced and well-resourced team. Founded in 1881, our company has a long history in finance. We began investing in global equities in the 1920s, developing our Asian and emerging-market capabilities thereafter. We have built on these specialisations ever since. Today, we manage active equity portfolios for a global client base of financial institutions, charities, foundations, endowments, pension funds, family offices, government agencies and investment funds. Our approach to investing in refreshingly simple: we focus on companies. Our integrated investment team seeks out those companies that we believe have the fundamentals to deliver material outperformance on a medium-to-long-term view. Once identified, these ideas our molded into wellbalanced portfolios. When constructing client portfolios, we control macro-factor sensitivity with the aim of deriving maximum value from our stock insights and delivering returns in a predictable and sustainable fashion. We offer a focused range of investment products and dedicate all of our resources to delivering for our clients both in terms of investment outcomes and superior client relationships. On 24 July 2014, Martin Currie agreed to become a wholly-owned affiliate of Legg Mason. The transaction has been approved by the boards of both companies, with completion expected during quarter four, 2014, subject to regulatory approval. Legg Mason s affiliate model ensures its subsidiaries operate with full autonomy, therefore we will continue to be managed in exactly the same way and with the same management team. We will continue to implement our long-term strategy, maintain our investment process, business infrastructure, client-service and company culture, ensuring no change in our offering to clients. Schroders has developed under stable ownership for over 200 years and we are one of the largest asset managers listed on the London Stock Exchange. Asset management is our business and our goals are completely aligned with those of our clients the creation of long-term value. We manage billion on behalf of institutional and retail investors, financial institutions and high net worth clients from around the world, invested in a broad range of asset classes across equities, fixed income, multi-asset and alternatives. We employ 3,540* talented people worldwide operating from 37 offices in 27 different countries across Europe, the Americas, Asia and the Middle East, close to the markets in which we invest and close to our clients. Long-term thinking governs our approach to investing, building client relationships and growing our business. * Total staff count. Source: Schroders, as at 30 June Global mirror fund guide

13 Vanguard was founded in the United States in 1975 on a simple but revolutionary idea, that an investment company should manage the funds it offers in the sole interest of its clients. In 1976, Vanguard pioneered the concept of indexing, introducing the first index fund for individual investors in the United States. Over the decades, Vanguard has grown to become one of the world s largest investment management companies with a presence in Australia, Europe, Asia, and the Americas. What sets us apart is the ownership structure of The Vanguard Group, Inc., in the United States. Rather than being publicly traded or owned by a small group of individuals, The Vanguard Group is owned by Vanguard s US-domiciled funds and exchange-traded funds. Those funds, in turn, are owned by their investors. This unique mutual structure aligns our interests with those of our investors and drives the culture, philosophy and policies throughout the Vanguard organisation worldwide. As a result, investors benefit from Vanguard s stability and experience, low costs and client focus. Vanguard is a trademark of the Vanguard Group, Inc. and has been licensed for use by Friends Provident International Limited. The FPIL Vanguard Mirror Fund is not sponsored, endorsed, sold or promoted by the Vanguard Group, Inc. and the Vanguard Group, Inc. makes no representation regarding the advisability of investing in the fund. Important information The information given in this document is based on the understanding of Friends Provident International of current Singapore law and taxation practice, which may change in the future. No liability can be accepted for any personal tax consequences of this plan or for the effect of future tax or legislative changes. Loans against the value of your plan are not available. Should Friends Provident International become unable to meet its liabilities to its policyholders, they will receive the protection of the Life Assurance (Compensation of Policyholders) Regulations 1991 of the Isle of Man. Investors should be aware that specific investor protection and compensation schemes that may exist in relation to collective investments and deposit accounts are unlikely to apply in the event of such an investment held within insurance contracts. Complaints we cannot settle may be referred to the Financial Insurance Disputes Resolution Centre Limited ( FIDReC ) for assistance within six months from the date you failed to reach an agreement with Friends Provident International. You can contact FIDReC at 112 Robinson Road, #13-03, Singapore Tel: ; Fax: / Website: info@fidrec.com.sg Some telephone communications with the Company are recorded and may be randomly monitored. Legal interpretation Each policy is governed by and shall be construed in accordance with the law of Singapore. Copyright 2015 Friends Provident International. All rights reserved. Global Mirror mirror Fund fund Guide guide 13

14 Friends Provident International Limited (Singapore Branch) 63 Market Street, #06-05, Bank of Singapore Centre, Singapore Telephone: Fax: Website: Registered in Singapore No. F06835G. Licensed by the Monetary Authority of Singapore to conduct life insurance business in Singapore. Member of the Life Insurance Association of Singapore. Member of the Singapore Financial Dispute Resolution Scheme. Friends Provident International Limited Registered and Head Office: Royal Court, Castletown, Isle of Man, British Isles, IM9 1RA. Telephone: +44(0) Fax: +44(0) Incorporated company limited by shares. Registered in the Isle of Man, number Friends Provident International is a registered trade mark of the Friends Life group. XSG/GMFG (46134))