KENANGA INVESTORS BERHAD

INFORMATION MEMORANDUM

IN RESPECT OF THE

KENANGA INCOME FUND - SERIES 1

Manager: Kenanga Investors Berhad (353563-P)

Trustee: RHB Trustees Berhad

(formerly known as OSK Trustees Berhad) (573019-U)

This Information Memorandum is dated 5 June 2014

Investors are advised to read and understand the contents of this Information Memorandum. If in doubt, please consult a professional adviser.

This page is intentionally left blank.

TABLE OF CONTENTS

Page No.

RESPONSIBILITY STATEMENTS AND STATEMENTS OF DISCLAI MER I

CORPORATE DIRECTORY II

DEFINITION IV

CHAPTER 1: KEY DATA 1

CHAPTER 2: RISK FACTORS 5

CHAPTER 3: FUND INFORMATION 7

3.1 Investment Objective 7

3.2 Investment Policy and Strategy 7

3.3 Asset Allocation 7

3.4 Benchmark 7

3.5 Risk Management 8

3.6 Permitted Investments 8

3.7 Investment Restrictions and Limits 8

3.8 Income Distribution and Distribution Options 8

3.9 Valuation of the Assets of the Fund 9

CHAPTER 4: FEES, CHARGES AND EXPENSES 10

4.1 Sales Charge 10

4.2 Redemption Charge 10

4.3 Management Fee 10

4.4 Trustee Fee 10

4.5 Other Expenses Directly Related to the Fund 10

4.6 Reduction / Waiver of Fees 10

CHAPTER 5: TRANSACTION INFORMATION 11

5.1 Pricing Policy 11

5.2 Valuation Point of the Fund 11

5.3 Computation of NAV and how the Management Fee and T rustee Fee are calculated: 11

5.4 Subscription of Units 11

5.5 Redemption of Units 12

5.6 Periodic Reporting to Unit Holders 12

CHAPTER 6: MANAGEMENT COMPANY 13

6.1 The Manager 13

6.2 Functions of the Manager 13

6.3 Financial Position of the Manager 13

6.4 Board of Directors 14

6.5 The Investment Committee 16

6.6 The Management Team 16

6.7 The Investment Teams 18

6.8 Material Litigation 20

6.9 Conflict of Interest 20

6.10 Retirement and Removal of Manager 20

CHAPTER 7: TRUSTEE 22

7.1 Background of the Trustee 22

7.2 Financial position of the Trustee 22

7.3 Experience in Trustee Business 22

7.4 The Board of Directors 23

7.5 Key Personnel of the Trustee 23

7.6 Trustee’s Declaration 24

7.7 Duties and responsibilities of the Trustee 24

7.8 Anti Money Laundering Provisions 25

7.9 Disclosure on Related-Party Transactions/Conflict o f Interests 25

7.10 Trustee’s Statement of Responsibility 25

7.11 Trustee’s Delegate 25

7.12 Material Litigation & Arbitration 26

CHAPTER 8: RIGHTS AND LIABILITIES OF UNIT HOLDERS 2 7

8.1 Unit Holders’ Rights 27

8.2 Unit Holders’ Liabilities 27

CHAPTER 9: POWER TO CALL FOR UNIT HOLDERS’MEETINGS 28

9.1 Meetings Directed by the Unit Holders 28

9.2 Meetings Summoned by the Trustee 28

9.3 Meetings Summoned by the Manager 28

9.4 Provisions Governing Unit Holders’ Meetings 28

9.5 Termination of the Fund 30

CHAPTER 10: OTHER INFORMATION 32

10.1 Unclaimed Moneys Policy 32

10.2 Anti Money Laundering Policy 32

10.3 Regulatory Approval 32

10.4 No Guarantee 32

10.5 Enquiries 33

i

RESPONSIBILITY STATEMENTS AND STATEMENTS OF DISCLAIMER

This Information Memorandum has been seen and approved by the directors of Kenanga Investors Berhad and they collectively and individually accept full responsibility for the accuracy of all information contained herein and confirm, having made all enquiries which are reasonable in the circumstances, that to the best of their knowledge and belief, there are no other facts omitted which would make any statement herein misleading. The Securities Commission Malaysia has authorized the Fund, the subject of this Information Memorandum, and the authorization shall not be taken to indicate that the Securities Commission Malaysia recommends the investment. The Securities Commission Malaysia will not be liable for any non-disclosure on the part of Kenanga Investors Berhad and takes no responsibility for the contents of this Information Memorandum, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from, or in reliance upon the whole or any part of the content of this Information Memorandum.

ii

CORPORATE DIRECTORY

Manager Name: Kenanga Investors Berhad (353563-P)

Registered Office: 8th Floor, Kenanga International Jalan Sultan Ismail 50250 Kuala Lumpur, Malaysia

Business Address: Suite 12.02, 12th Floor Kenanga International Jalan Sultan Ismail 50250 Kuala Lumpur, Malaysia

Telephone number: 03-2057 3688

Facsimile number: 03-2161 8807 / 03-2713 5868

Customer Service Hotline:

1-800-88-3737

Email Address: investorservices@kenanga.com.my

Website: www.kenangainvestors.com.my Board of Directors Datuk Syed Ahmad Alwee Alsree (Chairman) Syed Zafilen Syed Alwee (Independent Director) YM Raja Dato’ Seri Abdul Aziz bin Raja Salim (Independent Director) Vivek Sharma (Independent Director) Peter John Rayner (Independent Director) Bruce Kho Yaw Huat Abdul Razak bin Ahmad Investment Committee Bruce Kho Yaw Huat (Chairman) Syed Zafilen Syed Alwee (Independent Member) Vivek Sharma (Independent Member) Peter John Rayner (Independent Member) Abdul Razak bin Ahmad Company Secretary Name: Norliza Abd Samad (MAICSA 7011089)

Business Address: 9th Floor, Kenanga International Jalan Sultan Ismail 50250 Kuala Lumpur, Malaysia

Telephone number: 03-2164 9080

Facsimile number: 03-2161 4990 Trustee Name: RHB Trustees Berhad (formerly known as OSK Trustees Berhad)

(573019-U)

Registered Office:

Level 10, Tower One RHB Centre Jalan Tun Razak

iii

50450 Kuala Lumpur Malaysia

Business Address: 6th Floor, Plaza OSK Jalan Ampang 50450 Kuala Lumpur Wilayah Persekutuan, Malaysia

Telephone number: 03-9207 7777

Facsimile number: 03-2175 3288 Trustee’s Delegate (Custodian Functions) Name: CIMB Group Nominees (Tempatan) Sdn Bhd (274740-T)

Registered Office: 5th Floor, Bangunan CIMB Jalan Semantan, Damansara Heights 50490 Kuala Lumpur, Malaysia

Business Address Level 7 ,Wisma Amanah Raya Berhad Jalan Semantan, Damansara Heights 50490 Kuala Lumpur, Malaysia

Telephone number: 03-2084 8888

Facsimile number: 03-2093 3720

Auditors for the Fund Name: Ernst & Young

Address: Level 23A, Menara Milenium Jalan Damanlela Pusat Bandar Damansara 50490 Kuala Lumpur, Malaysia

Telephone number: 03-7495 8000

Facsimile number: 03-7495 7908 Tax Advis ers for the Fund Name: Ernst & Young Tax Consultants Sdn Bhd (179793-K)

Address: Level 23A, Menara Milenium Jalan Damanlela Pusat Bandar Damansara 50490 Kuala Lumpur, Malaysia

Telephone number: 03-7495 8000

Facsimile number: 03-2095 5332 Solicitors Name: Raja, Darryl & Loh

Address: 18th Floor, Wisma Sime Darby Jalan Raja Laut 50350 Kuala Lumpur, Malaysia

Telephone number: 03-2694 9999

Facsimile number: 03-2698 4759

iv

DEFINITION

the Act or CMSA The Capital Markets and Services Act 2007.

BAFIA

The Banking and Financial Institutions Act 1989.

Business Day A day on which banks in Kuala Lumpur are open for normal business.

BNM Bank Negara Malaysia.

Cash Produce In respect of any particular period, means all income and capital of the Fund for that period and includes all cash received by the Trustee in the form of: (a) dividends, bonuses and interest; (b) fees or charges charged by the Fund; (c) the proceeds of sale of rights and other cash received

pursuant to Clause 8.1.6 of the Deed; and paragraph (b) of Clause 8.1.3 of the Deed;

(d) any profit from the sale of the assets of the Fund; and (e) any other sum having the nature of capital or income

which the Manager and Trustee, having consulted the auditor of the Fund, deem to be Cash Produce.

Deed The deed entered into between the Manager and the

Trustee dated 13 June 2012 in respect of the Fund, including any supplemental deeds thereto.

development financial institution

Means a development financial institution prescribed by and regulated under the Development Financial Institutions Act 2002.

Financial Year End 31st October.

financial institution Means any of the following:

(i) a licensed bank; (ii) a licensed investment bank; (iii) an Islamic bank; (iv) a development financial institution; or (v) a scheduled institution.

the Fund The Kenanga Income Fund - Series 1, a wholesale fund issued pursuant to the Guidelines.

v

Guidelines The Guidelines on Wholesale Funds issued by the Securities Commission.

Information Memorandum This document, and includes any supplementary or replacement Information Memorandums.

Initial Offer Period

A period when the Manager invites potential Investors to participate in the Fund by subscribing for Units in the Fund, during this period, Units are created, cancelled, sold and repurchased at the Offer Price.

Islamic bank Means a financial institution licensed or deemed to be licensed under the Islamic Banking Act 1983.

licensed bank Means a bank, including a banking and finance company, licensed or deemed to be licensed pursuant to the BAFIA.

licensed investment bank Means an investment bank licensed or deemed to be licensed pursuant to the BAFIA.

MARC Malaysian Rating Corporation Berhad.

Manager / Management Company / KIB

Kenanga Investors Berhad (353563-P).

Management Fee A percentage of the NAV of the Fund that is paid to the Manager for managing the Fund.

medium -term A period of between 1 to 2 years.

Net Asset Value or NAV

The NAV of the Fund is determined by deducting the value of all the Fund’s liabilities from the value of all the Fund’s assets, at the valuation point. For the purpose of computing the annual management fee and annual trustee fee, the NAV of the Fund should be inclusive of the management fee and the trustee fee for the relevant day.

NAV per Unit Is the Net Asset Value of the Fund at a particular valuation point divided by the number of Units in circulation at that same valuation point.

Offer Price Means the price payable by an applicant for a Unit during the Initial Offer Period.

Qualified Investors Refers to:- 1. an individual whose total net personal assets, or total

net joint assets with his or her spouse, exceed RM3 million or its equivalent in foreign currencies, excluding the value of the individual’s primary residence;

2. an individual who has a gross annual income exceeding RM300,000 or its equivalent in foreign currencies per annum in the preceding 12 months;

3. an individual who, jointly with his or her spouse, has a

vi

gross annual income exceeding RM400,000 or its equivalent in foreign currencies in the preceding 12 months;

4. a corporation with total net assets exceeding RM10 million or its equivalent in foreign currencies based on the last audited accounts;

5. a partnership with total net assets exceeding RM10 million or its equivalent in foreign currencies;

6. a unit trust scheme or prescribed investment scheme; 7. a private retirement scheme; 8. a closed-end fund; 9. a company that is registered as a trust company under

the Trust Companies Act 1949 which has assets under management exceeding RM10 million or its equivalent in foreign currencies;

10. a corporation that is a public company under the Companies Act 1965 which is approved by the SC to be a trustee under the Act and has assets under management exceeding ten million ringgit or its equivalent in foreign currencies;

11. a statutory body established by an Act of Parliament or an enactment of any State;

12. a pension fund approved by the Director General of Inland Revenue under section 150 of the Income Tax Act 1967;

13. a holder of a capital markets services licence; 14. a licensed institution; 15. Islamic bank; 16. an insurance company licensed under the Insurance Act

1996; 17. a takaful operator registered under the Takaful Act

1984; 18. a bank licensee or insurance licensee as defined under

the Labuan Financial Services and Securities Act 2010; and

19. an Islamic bank licensee or takaful licensee as defined under the Labuan Islamic Financial Services and Securities Act 2010.

RAM RAM Rating Services Berhad.

RM or Ringgit Malaysia The lawful currency of Malaysia.

relevant laws Means laws, rules, regulations, guidelines, directives, circulars, guidance notes and investment management standards passed or issued by any relevant authority relating to or connected with the fund management industry in Malaysia.

scheduled institutio n Means a corporation or any other organisation which carries on building credit business, development finance business, factoring business or leasing business but does not include a co-operative society, a statutory body, a local authority, a

vii

licensed bank, a licensed finance company, or a licensed merchant bank carrying on the aforesaid businesses.

Securities Commission or SC

The Securities Commission of Malaysia established under the Securities Commission Act 1993.

short -term A period of less than 1 year.

Special Resolution Means a resolution passed at a meeting of Unit Holders duly convened in accordance with the Deed and carried by a majority in number representing at least three-fourths of the value of the Units held by the Unit Holders voting at the meeting in person or by proxy.

Trustee

RHB Trustees Berhad (formerly known as OSK Trustees Berhad) (573019-U)

Trustee Fee A percentage of the NAV of the Fund that is paid to the Trustee for acting as the trustee for the Fund.

Unit Is an undivided share in the beneficial interest and/or right in the Fund and a measurement of the interest and/or right of a Unit Holder in the Fund and means a Unit of the Fund.

Unit Holder / Investors The Qualified Investors for the time being registered as the holder of Units in the Fund.

1

CHAPTER 1: KEY DATA This section contains a summary of the salient information about the Fund. Information about the Fund

Name Kenanga Income Fund - Series 1.

Fund Type Income.

Fund Category Fixed Income.

Investment Objective

The Fund seeks to provide Investors with regular income stream while maintaining capital stability. Note: Unless otherwise indicated by Unit Holders, any distributions will be automatically reinvested as additional Units.

Investment Policy and Strategy

The Fund seeks to achieve its objective by investing in fixed income, deposits and money market instruments. The investment strategy will involve actively managing the maturities of each investment to the extent possible to enhance the returns of the Fund. The Fund will also be actively managed to meet potential liquidity requirements of the Fund. In very bearish market conditions, the Fund may invest only in money market instruments and deposits that may result in the Fund underperforming the benchmark.

Asset Allocation

The Fund’s portfolio will be structured as follows: • 50% - 100% of the NAV will be placed in fixed income

instruments; and • up to 50% of the NAV will be invested in money market

instruments.

Principal Risks

− Interest Rate Risk − Liquidity Risk − Credit/Default Risk

Benchmark

Maybank 1 month Fixed Deposits (FD) rate. Source: www.maybank2u.com Investors should be aware that investing in the Fund is not the same as placement in the Maybank 1 month Fixed Deposits. The capital and returns of the Fund are not guaranteed and there are risks involved. Hence, the risk profile of the Fund does not reflect that of the Maybank 1 month Fixed Deposits.

2

The Fund has a higher risk profile than the Maybank 1 month Fixed Deposits.

Investors’ Profile

The Fund is suitable for Investors who:- − seek to invest in a fixed income fund; − seek regular income with capital stability; − have low risk tolerance; and − prefer a short to medium-term investment horizon.

Financial Year End

The period of twelve (12) months ending on the 31st day of October of every calendar year, for the avoidance of doubt, the first financial year shall commence on the date of this Information Memorandum and shall end on a date which does not exceed 18 (eighteen) months of the date of the first Information Memorandum.

Price per Unit during the Initial

Offer Period

RM1.00.

Initial Offer Period The Initial Offer Period is one (1) day and falls on the date of this Information Memorandum.

Commencement Date

The Fund will commence on the Business Day after the end of the Initial Offer Period.

Transaction Information

Minimum Initial Investment

RM50,000 or such other amount as the Manager may prescribe from time to time.

Minimum Additional Investment

RM10,000 or such other amount as the Manager may prescribe from time to time.

Minimum Redemption Amount

10,000 Units or such other amount as the Manager may prescribe from time to time.

Condition s for Redemption

Unit Holders may redeem their investments in the Fund on any Business Day by completing the prescribed redemption request form or such other manner as the Manager may accept and returning it to the Manager on any Business Day; the redemption request form is available at the office of the Manager. All such requests must be received by us before 12 p.m. on a Business Day; any requests received after 12 p.m. will be treated as having been received the following Business Day. Redemption proceeds are based on the NAV per Unit of the Fund at the close of a Business Day on the day the redemption request form is received by the Manager. Redemption proceeds will be paid to Unit Holders on the next

3

Business Day upon receipt of the redemption request form.

Transfer Facility

Transfer facility is not available for this Fund.

Switching Facility

Switching facility is not available for this Fund.

Fees and Charges

Expenses directly incurred by Unit Holders

Sales Charge

None.

Redemption Charge

None.

Expenses indirectly incurred by Unit Holders.

Management Fee

Up to zero point one zero per centum (0.10%) per annum of the NAV of the Fund. The Management Fee is calculated on a daily basis and payable monthly.

Trustee Fee

Up to zero point zero two per centum (0.02%) per annum of the NAV of the Fund subject to a minimum of RM10,000 per annum. The Trustee Fee is calculated daily and payable monthly.

Other Expenses

Only expenses directly incurred by the Fund will be charged to the Fund. These expenses relate primarily to the administration of the Fund. These expenses include auditor’s fees and other relevant professional fees, foreign custodial charges (if applicable), cost of distribution of quarterly/annual reports, tax certificates, reinvestment statements and other notices to Unit Holders. Other fees/ expenses directly related to the Fund, such as commissions paid to brokers and taxes, are also paid out of the Fund.

Other Information

Reports Unit Holders will receive the following statements and reports in a financial year: − Confirmation of Investment Statements showing details of the

Units purchased and the application prices at which the Units were purchased;

− Monthly Statements of Account showing the balance of Investors’ investments and all transactions made during the month, distribution details and investment value based on the NAV per Unit of the Fund as at the last trading day of that month;

− Quarterly Reports and Annual Report which provides an account of the Fund including a detailed overview of the Fund, investment strategies, performances, portfolio holdings and account of the Fund; and

4

− If distribution of returns is declared by the Fund, Unit Holders will receive a Statement of Distribution of Returns and tax statement/voucher for submission to the Inland Revenue Board of Malaysia.

Distribution Policy Subject to the availability of income, distribution of income will be

done on a monthly basis.

Distribution Options The following distribution options are available for the Fund. Unit Holders may specify their distribution preferences:- - Pay-out Option: Distribution proceeds paid directly to Unit

Holders; or - Reinvestment Option: Unit Holders may opt for distribution

proceeds to be reinvested as additional Units of the Fund at NAV per Unit on the Business Day following the distribution declaration date.

If Unit Holders do not indicate their preferred distribution option, any distributions will be automatically reinvested as additional Units of the Fund at the NAV per Unit on the Business Day following the distribution declaration date. For Unit Holders who select the pay-out option, the Manager shall endeavour to pay all distribution proceeds in cash or cheque in Ringgit Malaysia within 5 Business Days from the distribution declaration date and in any event, the income distribution shall be made no later than 14 Business Days from the distribution declaration date, unless the distribution proceeds is less than RM50.00. In such circumstances, the distribution proceeds will be automatically reinvested as additional Units of the Fund at the NAV per Unit on the Business Day following the distribution declaration date.

INVESTORS ARE ADVISED TO READ THE INFORMATION MEMORANDUM AND OBTAIN PROFESSIONAL ADVICE BEFORE SUBSCRIBING TO THE FUND.

5

CHAPTER 2: RISK FACTORS

The Manager encourages Unit Holders to give careful consideration to the risks associated when investing in the Fund and, accordingly, to obtain independent financial and taxation advice before investing in the Fund. Below are some of the general risks which Unit Holders should be aware of when investing in the Fund.

− Market risk – Market risk arises because of factors that affect the entire market place. Factors such as economic growth, political stability and social environment are some examples of conditions that have an impact on businesses, whether positive or negative. The Fund will be exposed to market uncertainties due to the factors stated above and this in turn will affect the value of the investments either in a positive or negative way.

− Fund management risk – Investors rely on the experience and expertise of the fund

management team of the Manager to make investment decisions for the Fund. A failure on the part of the fund management team to display the requisite experience and expertise expected of them in making such decisions may jeopardize the Fund’s performance and returns.

− Performance risk – The performance of the Fund depends on the investments of

the Fund. If there is a default, there will be a negative impact on the performance of the Fund. The performance of the Fund may also be affected if the allocation of assets is not properly done. This is where the experience and expertise of the fund managers are important as highlighted in the fund management risk write-up above. In view of the aforesaid, there is never a guarantee that investing in the Fund will produce the desired investment returns or the distribution of income.

− Inflation risk – Inflation rate risk is the risk of potential loss in the purchasing power

of investment due to a general increase of consumer prices. Inflation erodes the nominal rate of return giving a lower real rate of return. Investors are advised to take note that the Fund is not designed with the objective of matching the inflation rate of Malaysia.

− Risk of non-compliance – The Fund has been established in accordance with the provisions of the Deed and the Guidelines. There is a risk that the Manager may not observe the rules whether intentionally or inadvertently. Whilst non-compliance with the rules governing the Fund will not necessarily result in losses to the Fund, Investors cannot discount the risk that losses may be suffered by the Fund if the non-compliance with the rules is sufficiently serious and may affect the value of the Fund. This may occur, for instance, if the Manager decides to buy an instrument which is not permitted, whether intentionally or inadvertently, and thereafter having to sell that instrument at a loss to the Fund.

− Operational risk – This risk refers to the possibility of a breakdown in the Manager’s internal controls and policies. The breakdown may be a result of human error (for instance the keying of wrong details), system failure (causing unnecessary downtime) or even fraud (where employees of the Manager colludes with one another). This risk may cause monetary loss to the Fund and/or inconvenience to investors. The

6

Manager will regularly review its internal policies and system capability to minimize the occurrence of this risk. Additionally the Manager maintains a strict segregation of duties to minimize occurrence of fraudulent practices amongst employees of the Manager.

The specific risks affecting investments in this Fund may include but are not limited to:

− Interest Rate risk – The risk refers to how the changes in the interest rate environment would affect the performance of the money market portfolio. In the event of a decreasing interest rate environment, banks may offer deposits with lower interest rates, effectively reducing the potential returns of future deposits which in turn will reduce the potential returns of a money market portfolio.

− Liquidity risk – This risk refers to the possibility that the investments of the Fund cannot be readily sold or converted into cash without incurring significant loss in value. For example, disposing a relatively illiquid instrument may result in a disadvantage to the Fund as there may not be a buyer, or sufficient buyers, available for the said instrument. This lack of demand or low trading volume may cause the value of the Fund to drop. This risk is mitigated through a diversified asset allocation in terms of the type of instruments and the tenure of the investment instruments, which include deposits and money market placements.

− Credit/Default risk – This risk refers to the possibility that a financial institution or

corporate issuer of instruments will not be able to meet the scheduled interest and/or principal repayments. This may lead to a reduction in the value of the Fund due to income and/or capital losses. In general, this risk can be mitigated by investing in instruments that carry credit ratings that are at least of investment grade. In respect of the instruments issued by financial institution, in the absence of a credit rating for the instrument, the credit rating of the financial institution issuing the instrument will be used instead. The investment grade refers to credit rating of at least BBB3 / P3 by RAM or its equivalent by MARC or any other recognized local rating agencies.

7

CHAPTER 3: FUND INFORMATION

3.1 Investment Objective The Fund seeks to provide Investors with regular income stream while maintaining capital stability. Any material changes to the investment objective of the Fund would require the approval of Unit Holders. Note: Unless otherwise indicated by Unit Holders, any distributions will be automatically reinvested as additional Units.

3.2 Investment Policy and Strategy The Fund seeks to achieve its objective by investing in fixed income, deposits and money market instruments. The investment strategy will involve actively managing the maturities of each investment to the extent possible to enhance the returns of the Fund. The Fund will also be actively managed to meet potential liquidity requirements of the Fund. In very bearish market conditions, the Fund may invest only in money market instruments and deposits that may result in the Fund underperforming the benchmark.

3.3 Asset Allocation In seeking to achieve its investment objective, the Fund will invest in a diversified portfolio of investments as stated in Chapter 3.6, Permitted Investments; the Fund’s asset allocation will be as follows:

• 50% - 100% of the NAV will be placed in fixed income instruments; and

• up to 50% of the NAV will be invested in money market instruments. The above asset allocation is only indicative and will be reviewed from time to time at the discretion of the Manager as to the general market and economic conditions. Specific risks associated with such investments are elaborated in Chapter 2, Risk Factors above.

3.4 Benchmark Maybank 1 month Fixed Deposits (FD) rate. Source: www.maybank2u.com Investors should be aware that investing in the Fund is not the same as placement in the Maybank 1 month Fixed Deposits. The capital and returns of the Fund are not guaranteed and there are risks involved. Hence, the risk profile of the Fund does not

8

reflect that of the Maybank 1 month Fixed Deposits. The Fund has a higher risk profile than the Maybank 1 month Fixed Deposits.

3.5 Risk Management Active risk management is employed through the pre-determined investment process that seeks to mitigate credit risk, while active asset allocation strategies are employed to mitigate duration risk in relation to our prevailing market outlook.

3.6 Permitted Investments Unless otherwise prohibited by the relevant authorities or any relevant law and provided always that there are no inconsistencies with the objective of the Fund, the Fund may invest in the following:

1. Placements of deposits and money market instruments with financial institutions;

2. Fixed income instruments, commercial papers (CP) and medium-term notes (MTN);

3. Malaysian Government Securities (MGS) issued by the Government of Malaysia;

4. Bank Negara Monetary Notes (BNMN) or equivalent issued by Bank Negara Malaysia; or

5. Any other investment instruments as may be agreed upon between the Manager and the Trustee from time to time.

3.7 Investment Restrictions and Limits This Fund can only be sold or marketed to Qualified Investors.

3.8 Income Distribution and Distribution Options Subject to the availability of income, distribution of income will be done on a monthly basis. It should be noted that the actual distribution of income and the frequency of distribution as indicated here are provisional and will depend on the availability of distributable surplus (after deducting expenses incurred by the Fund i.e., Management Fee, Trustee Fee and any other fund expenses). The following distribution options are available for the Fund. Unit Holders may specify their distribution preferences: 1. Pay-out Option: Distribution proceeds paid directly to Unit holders; or 2. Reinvestment Option: Unit Holders may opt for distribution proceeds to be reinvested as

additional Units of the Fund at the NAV per Unit on the Business Day following the distribution declaration date.

If Unit Holders do not indicate their preferred distribution option, any distributions will be automatically reinvested as additional units of the Fund at the NAV per Unit on the Business Day following the distribution declaration date. For Unit Holders who select the pay-out option, the Manager shall endeavour to pay all distribution proceeds in cash or cheque in Ringgit Malaysia within 5 Business Days from the

9

distribution declaration date and in any event, the pay-out shall be made no later than 14 Business Days from the distribution declaration date, unless the distribution proceeds is less than RM50.00. In such circumstances, the distribution proceeds will be automatically reinvested as additional Units of the Fund at the NAV per Unit on the Business Day following the distribution declaration date. If distribution cheque(s) remain unclaimed for 6 months, the amount will be reinvested into the Fund based on the prevailing NAV per Unit of the Fund.

3.9 Valuation of the Assets of the Fund The Fund will be valued daily at the end of every Business Day. The Manager shall at all times value the assets of the Fund in accordance with the following bases of valuation. Accordingly: 1. Unquoted debt securities, commercial papers (CP), medium-term notes (MTN) and

Malaysian Government Securities (MGS) will be valued on a daily basis based on fair value prices quoted by a bond pricing agency (BPA) registered with the SC. If the Manager is of the view that the price quoted by the BPA for a specific bonds differs from the market price by more than twenty (20) basis points, the Manager may use the market price. In the absence of reliable market quotation, valuation should be the average price obtained from at least three (3) independent dealers.

2. Deposits placed with other financial institutions will be valued with reference to the principal value of such investments and interest accrued thereon for the relevant period.

3. Money market instruments such as bankers’ acceptance (BA), negotiable instruments of

deposits (NID) and Malaysian government and/or any other government-related agencies investment issues will be valued on a daily basis by reference to the value of such investments and interest accrued thereon for the relevant period.

10

CHAPTER 4: FEES, CHARGES AND EXPENSES Expenses directly incurred by Unit Holders.

4.1 Sales Charge The Manager does not intend to impose any sales charge.

4.2 Redemption Charge The Manager does not intend to impose any redemption charge. Expenses indirectly incurred by Unit Holders.

4.3 Management Fee The Management Fee is a charge levied for the services rendered by the Manager. The Management Fee is up to zero point one zero per centum (0.10%) per annum of the NAV of the Fund. The Management Fee is calculated daily and payable monthly. Please refer to the illustration under item 5.3 below to see how the Management Fee is calculated.

4.4 Trustee Fee Up to zero point zero two per centum (0.02%) per annum of the NAV of the Fund subject to a minimum of RM10,000 per annum. The Trustee Fee is calculated daily and payable monthly. Please refer to the illustration under item 5.3 below to see how the Trustee Fee is calculated.

4.5 Other Expenses Directly Related to the Fund In administrating the Fund, there are expenses directly related to the Fund. These expenses include auditor’s fees and other relevant professional fees, foreign custodial charges (if applicable), cost of distribution of quarterly/annual reports, tax certificates, statements and other notices to Unit Holders. In addition, there are fees/ expenses that are directly related and necessary to the business of the Fund such as commissions paid to brokers and taxes, that are also paid out of the Fund.

4.6 Reduction / Waiver of Fees The Manager may, for any reason at any time, waive or reduce the amount of any fees or other charges payable by the Unit Holders in respect of the Fund, either generally or specifically and for any period of time at its absolute discretion.

11

CHAPTER 5: TRANSACTION INFORMATION

5.1 Pricing Policy The Manager will adopt a single pricing policy when calculating your subscription for and redemption of Units which means that the selling price per Unit and the redemption price per Unit will be transacted and quoted on a single price i.e., the NAV per Unit of the Fund. The NAV per Unit of the Fund will be valued as at the next valuation point (at the end of each Business Day) on a forward pricing basis and will be made available on the following day. Unit Holders may obtain the NAV per Unit of the Fund by contacting the Manager directly. Investors will receive quarterly reports and an audited annual report each year from the Manager.

5.2 Valuation Point of the Fund The Fund will be valued at the end of every Business Day.

5.3 Computation of NAV and how the Management Fee a nd Trustee Fee are calculated:

Example: Computation of NAV per Unit RM Investments 10,001,000.00 Other Assets 5,000.00 Total Assets 10,006,000.00 Less: Liabilities 1,590.07 NAV of the Fund (before deduction of Management and Trustee Fees)

10,004,409.93

Less: Management Fee - Calculated on a Daily Basis (0.30% per annum/365 days)

82.23

Trustee Fee - Calculated on a Daily Basis (0.02% per annum/365 days)

5.48

NAV of the Fund (after deduction of Management and Trustee Fees)

10,004,322.22

Units In Circulation 10,004,000.00 NAV per Unit 1.000032 NAV per Unit (Rounded to 4 decimal points) 1.0000

5.4 Subscription of Units Application for Units should be made at or before the cut-off time of 11 a.m. on any Business Day. The subscription form is available at the office of the Manager. During the Initial Offer Period, Units of the Fund will be issued at the Offer Price. After the Initial Offer Period, Investors will purchase Units at the NAV per Unit of the Fund at the next valuation point after their application is accepted by the Manager.

12

5.5 Redemption of Units Unit Holders may redeem their investments in the Fund on any Business Day by completing the prescribed redemption request form or such other manner as the Manager may accept and returning it to the Manager on any Business Day; the redemption request form is available at the office of the Manager. All such requests must be received by the Manager before 4 p.m. on any Business Day; any requests received after 4 p.m. will be treated as having been received the following Business Day. Redemption proceeds are based on the NAV per Unit of the Fund at the close of Business on the day the redemption request form is received by the Manager. Redemption proceeds will be paid to Unit Holders on the next Business Day upon receipt of the redemption request form. The minimum redemption amount is set at 10,000 Units or such other amount as the Manager may prescribe from time to time.

5.6 Periodic Reporting to Unit Holders During every Financial Year of the Fund, Unit Holder will receive: 1. Confirmation of Investment Statements detailing his investment, which will be sent within

ten (10) Business Days from the date monies are received by the Manager for investment in the Fund. This confirmation will include details of the Units purchased and the purchase price;

2. Monthly Statements of Account which shows the balance of Unit Holders’ investments

and all transactions made during the month, distribution details and investment value; 3. Quarterly Reports which provides a brief overview of the Fund including key risk factors,

investment outlook for the quarter, the Fund’s financial performance, credit risk, level of borrowings, market outlook, changes in the key investment team, illiquid holdings, details on portfolio holdings, information on fund performance and volatility and unaudited accounts of the Fund for the quarter. The Quarterly Reports will be dispatched to all Unit Holders within two (2) months from the close of each financial quarter;

4. An Annual Report which provides a detailed overview of the Fund including key risk

factors, investment outlook for the year, the Fund’s financial performance, credit risk, level of borrowings, market outlook, changes in the key investment team, illiquid holdings, details on portfolio holdings, information on fund performance and volatility and audited accounts of the Fund for the year. The Annual Report will be dispatched to all Unit Holders within two (2) months from the close of each Financial Year; and

5. If distribution of returns is declared by the Fund, Unit Holders will receive a Statement of

Distribution of Returns, detailing the nature and amount of returns distributed by the Fund and a tax statement/voucher for submission to the Inland Revenue Board of Malaysia.

13

CHAPTER 6: MANAGEMENT COMPANY

6.1 The Manager Kenanga Investors Berhad has its principal place of business at Suite 12.02, 12th Floor, Kenanga International, Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia. The Manager, was incorporated as a public limited company on 2 August 1995 under the Companies Act 1965 with an authorized share capital of RM25,000,000.00 comprising 15,000,000 ordinary shares of RM1.00 each and 10,000,000 preference shares of RM1.00 each of which 13,465,300 ordinary shares and 5,000,000 preference shares are issued and fully paid up. KIB is 100% owned by Kenanga Investment Bank Berhad which is a wholly-own subsidiary of K & N Kenanga Holdings Berhad.

The Manager is licensed and authorised to conduct business in distributing unit trust funds and fund management on behalf of corporate, institutional and individual clients under the CMSA. As at 30 April 2014, the Manager manages 28 unit trust funds, 1 private retirement scheme (consisting of 3 funds), 8 wholesale funds and other funds from government agencies, pension funds, insurance, corporate and individual clients with a total fund size of more than RM6 billion. The Manager has the services of 88 experienced personnel (77 executives, and 11 non-executives).

6.2 Functions of the Manager KIB is responsible for the day-to-day management, marketing and administration of the Fund, where its key functions include: a) Endeavouring that the Fund is managed in a sound and professional manner in

accordance with its investment objectives, the provisions of this Information Memorandum and the Deed;

b) Endeavouring that the Fund is properly administered and to arrange for sale and redemption of Units of the Fund;

c) Issuing the Fund’s quarterly and annual reports, and monthly statement of accounts to Unit Holders;

d) Keeping proper records of the Fund; and e) Keeping Unit Holders informed on material matters relating to the Fund.

6.3 Financial Position of the Manager The audited financial results of KIB for the financial years ended 31 December 2011 to 31 December 2013 are summarised below: Year ended

31 December 2013

RM’000

Year ended 31 December

2012 RM’000

Year ended 31 December

2011 RM’000

Paid-up capital 18,465 6,765 6,765 Shareholders’ funds 35,583 11,036 12,777 Revenue 35,551 12,178 10,234

14

Profit / (Loss) before taxation 14,138 (1,914) (1,473) Profit / (Loss) after taxation 12,847 (1,741) (1,290)

6.4 Board of Directors The board of directors of KIB (“Board”) is responsible for the overall management of the Manager and its funds. The Board not only ensures corporate governance is practised but policies and guidelines are adhered to. The Board will sit once every quarter, or more often should the need arise. Datuk Syed Ahmad Alwee Alsree (Chairman) Date of Appointment: 11 October 2006 Datuk Syed Ahmad Alwee Alsree was appointed Chairman of KIB on 1 January 2008 after having been appointed to the Board in October 2006. He was appointed as a Non-Executive Director of K&N Kenanga Holdings Berhad on 28 August 2009 and had, on 26 July 2011, re-designated as Deputy Chairman. Datuk Syed Ahmad Alwee Alsree is also the Group Executive Director of Cahya Mata Sarawak Berhad (CMSB). He had earlier joined CMS in February 2004 as Group General Manager – Human Resources where he was responsible for the smooth operations and integration of the various human resource departments within Cahya Mata Sarawak (CMS) Group. He was appointed as Deputy Group Managing Director of CMSB in September 2006 and subsequently re-designated as Group Executive Director in August 2008. Datuk Syed Ahmad graduated with a Bachelor of Law (LL.B.) from the National University of Singapore, and practiced law in Singapore for over ten (10) years prior to joining CMS Group. Apart from K&N Kenanga Holdings Berhad and CMSB, Datuk Syed Ahmad is a director of KKB Engineering Berhad, Kenanga Investment Bank Berhad and SIG Gases Berhad. He is Chairman of Samalaju Aluminium Industries Sdn Bhd (formerly known as Similajau Aluminium Industries Sdn Bhd) and a director of several CMS subsidiaries in financial services, property development and education. Syed Zafilen Syed Alwee (Independent Director) Date of Appointment: 12 May 2008 Syed Zafilen Syed Alwee was appointed as the Director of KIB on 12 May 2008. He has spent his career in managing various sectors of operations of companies such as sales, marketing, technical, management, finance in local listed companies as well as multinational including Patimas, Lityan, Cahya Mata Sarawak, Lucent Technologies, Motorola, Mobil and others as well as being ownership of two other companies. He is currently undergoing an MBA programme in Finance at the University of Manchester. YM Raja Dato’ Seri Abdul Aziz bin Raja Salim (Indep endent Director) Date of Appointment: 24 February 2012 YM Raja Dato’ Seri Abdul Aziz bin Raja Salim was appointed as the Director of KIB on 24 February 2012. He is an Honorary Fellow of the Malaysian Institute of Taxation, Fellow of the Chartered Association of Certified Accountants, United Kingdom, Fellow of the Chartered Institute of Management Accountants ("CIMA"), United Kingdom and a Chartered Accountant (Malaysia).

15

He served as Director General of Inland Revenue Malaysia from 1980 to 1990 and Accountant General Malaysia from 1990 to 1994. After his retirement from the Government service, he was appointed as Chairman of BSN Commercial Bank (M) Berhad from 1995 to 1999. He was a Board Member of several Government agencies and organisations as well as Deputy Chairman of the Employees Provident Fund and Deputy Chairman of the Universiti Pertanian Malaysia Council. YM Raja Dato' Seri Abdul Aziz was the President of CIMA, Malaysia from 1976 to 1993 and a council member of CIMA, United Kingdom from 1990 to 1996. He was awarded the CIMA Gold Medal in recognition of his outstanding service to the Accounting Profession. He was a council member of the Malaysian Institute of Accountants ("MIA") until September 2005 and still sits on many MIA committees. At present, he is also the Chairman of Gamuda Berhad. YM Raja Dato' Seri Abdul Aziz is a Director of K & N Kenanga Holdings Berhad, Kenanga Islamic Investors Berhad (Formerly known as Kenanga Fund Management Berhad), Hong Leong Industries Berhad, Jerneh Asia Bhd, PPB Group Berhad, Panasonic Manufacturing Malaysia Berhad and Southern Steel Berhad. Vivek Sharma (Independent Director) Date of Appointment: 1 October 2012 Vivek Sharma was appointed as the Director of KIB on 1 October 2012. He has over twenty (20) years experience in building and leading businesses in South East Asia in the fields of higher education, insurance, wealth management, and real estate. He is currently Managing Director of VS Development, a company which focuses on property development. In financial services, he was a Director of Investments at Merrill Lynch and a business leader at Cigna Corporation in South East Asia. He was also executive director, Asia for Laureate Higher Education Group, as well as director of development, Asia for INSEAD business school. He holds a BSc. Economics (Finance) from the Wharton School at the University of Pennsylvania and a MBA from International Institute for Management Development (IMD) in Lausanne, Switzerland. Peter John Rayner (Independent Director) Date of Appointment: 11 November 2010 Peter John Rayner was appointed a director (and investment committee member) of KIB on 11 November 2010. He has over thirty (30) years successful experience in building & leading businesses in the fields of chartered accounting, stock broking, private equity and asset management. He has held many senior positions including as chief executive officer of both Allianz Global Investors & Saltbush Funds Management in Australia, Executive Director of private equity firm Audant Capital, Head of Institutional Investment at Perpetual Investments and National Chief Financial Officer of a major Australian hospital group. He is currently also a trustee of the Rookwood General Cemeteries Trust in Sydney, and a Director of two Australian private family companies. He holds a business degree (majoring in Accounting & Finance) from Charles Sturt University in Australia, and is a Certified Practising Accountant (“CPA”). Bruce Kho Yaw Huat Date of Appointment: 29 June 2010

16

Bruce Kho Yaw Huat was appointed as the Director of KIB on 29 June 2010. Bruce has significant experience in building and leading financial management firms. His experience spans thirty-five (35) years within the fields of finance and management, twenty four (24) of which were as the Chief Executive Officer, and later Chairman, of the Allianz Group’s Asian asset management business, a market leader in the provision of asset management services. Abdul Razak bin Ahmad (Chief Executive Officer/ Exe cutive Director) Date of Appointment: 19 July 2010 Abdul Razak bin Ahmad was appointed as chief executive officer / executive director of KIB on 19 July 2010. He has more than twenty (20) years of experience in the financial industry; mainly asset management, unit trust business, corporate banking and treasury. He had held senior management positions and directorship in three investment management organizations in Malaysia. He holds a Bachelor Degree of Science majoring in Business Administration (Finance) Magna Cum Laude from University of Southwestern Louisiana, USA. He is a holder of the Capital Markets Services Representative’s License and a Certified Financial Planner.

6.5 The Investment Committee The Investment Committee formulates, establishes and implements investment strategies and policies. The committee will continually review and monitor the success of these strategies and policies using predetermined benchmarks towards achieving a proper performance for the Fund. The Committee will also ensure investment guidelines and regulations are complied with. The Investment Committee will meet at least once every quarterly or more often should the need arise.

Members of the Investment Committee for the Fund are as follows:

• Bruce Kho Yaw Huat (Chairman) • Syed Zafilen Syed Alwee (Independent Member) • Vivek Sharma (Independent Member ) • Peter John Rayner (Independent Member) • Abdul Razak bin Ahmad Please refer to the Board of Director’s section for more details on their profile.

6.6 The Management Team Abdul Razak bin Ahmad Chief Executive Officer/ Executive Director Abdul Razak bin Ahmad’s profile is as set out above under the Board of Director’s section. Ismitz Matthew De Alwis Deputy Chief Executive Officer

17

Ismitz Matthew De Alwis joined KIB in June 2013 as Deputy Chief Executive Officer following the acquisition of ING Funds Berhad (“ING Funds”) by KIB. He is responsible for the company's retail business, finance, strategic business planning, risk management and governance, business development, operations and information technology (IT) functions. He was with ING Funds since 2003 and was part of the pioneer team who was responsible for the exponential growth of ING Funds in Malaysia. He was the Executive Director and country head for ING Funds. Before assuming the strategic and executive oversight of ING Funds; he was responsible for nationwide distribution, product management and business development for retail, corporate and institutional markets. He started his career as an investment analyst with a regional research & advisory firm, where he obtains vast regional exposure in Hong Kong, Philippines, Dubai and Singapore. He was responsible for research, marketing, distribution and product development. Upon his return to Malaysia, he joined a local established financial institution and investment management company before joining ING Funds. He brings with him twenty one (21) years of experience and multiple expertise including a number of leadership roles experiences in the field of financial and investment management. Ismitz Matthew holds a Master of Business Administration (MBA) from Southern Cross University where he graduated with distinction and a Bachelor Degree (H) in Business Administration from RMIT. In addition, he holds two other professional qualifications from the Chartered Institute of Marketing UK (CIM UK), and is a Certified Financial Planner (CFP). Ismitz Matthew is also a Capital Markets Services Representative’s Licence holder for investment advice, fund management and dealing in private retirement schemes approved by the SC. Lee Sook Yee Chief Investment Officer Lee Sook Yee joined KIB as the Chief Investment Officer (“CIO”) in March 2013, bringing with her more than twelve (12) years of experience in local and regional equities investment. Prior to this, Sook Yee was Head of Equities at Meridian Asset Management (“Meridian”), where she led an experienced team of fund managers/analysts in managing equities portfolios of more than RM1 billion in assets under management. At Meridian, she managed various local and regional funds. Before joining Meridian, Sook Yee was Vice President/Senior Portfolio Manager at Credit-Suisse Asset Management in Singapore where she co-managed mutual funds focusing on emerging Asian markets. She was also Associate Director/ Portfolio Manager with UOB-OSK Asset Management. Andrew Chan Chief Financial Officer Andrew Chan joined KIB in June 2013 to head the Finance & Investment Operations team. Prior to this, Andrew was with ING Funds Berhad (“ING Funds”), where he joined since 2004. He has been with ING Funds since the company’s inception and is one of the pioneers during the company’s green field set-up. Andrew has more than twenty (20) years of experience in the business management, finance and accounting field. He started his accounting career in Australia. Upon his return, he joined a public-listed company as a senior accountant. His last stint prior to joining ING Funds was with an established unit trust management company where he was responsible for all financial and management reporting. Andrew is a Certified Practising Accountant (“CPA”), Aust and holds a Bachelor of Economics from La Trobe University, Melbourne, Australia.

18

Mariam Veronica Abu Bakkar Seddek Head, Institutional Business

Mariam Veronica joined the Manager in July 2012 as Head of Compliance. She was appointed to be the Head of Institutional Business in March 2014. She graduated with a Bachelor of Science in Accounting from University of Wales Cardiff, United Kingdom in 1998. She worked as a teacher in the UK for a year before joining the Securities Commission in 1999. She served the SC for 8.5 years where she specialised in auditing asset management companies. Thereafter, she served as the Head of Compliance in a fund management company for 4 years. Rizal Abdullah Head, Compliance Rizal Abdullah joined the PRS Provider in March 2014 as Head of Compliance. He graduated with an LLB Laws from King’s College London, United Kingdom in 1998. He was called to the Malaysian Bar in 2000 and joined the SC in the same year. He served the SC for 5 years where he was involved in the investigation and prosecution of breaches of the Securities laws. Thereafter, he served in various other positions, including as a Group Chief Compliance officer for a public trustee, Head of Legal for a fund management company and General Counsel and Corporate Secretary for a non-profit organization under Bank Negara Malaysia. Rizal is the designated person responsible for compliance matters for the Funds.

6.7 The Investment Teams

The Manager’s various investment teams meet informally on a daily basis with a formal meeting (the investment sub-committee) occurring fifteen (15) times a year (at times considered appropriate), to amongst other things, monitor the changing investment landscape and re-assess market conditions in terms of opportunity and risk. This activity seeks to ensure the investment strategies and policies of all funds managed by the Manager are consistently matched with the prevailing market environment and outlook. The designated fund manager for the Fund is Wong Yew Joe (Yew Joe) whose particulars can be found below. Lee Sook Yee Chief Investment Officer Lee Sook Yee’s profile is set out in Chapter 6.6 – The Management Team Wong Yew Joe Senior Vice President, Fixed Income Wong Yew Joe joined KIB in April 2011, bringing with him more than thirteen (13) years of experience in the fund management industry. Prior to this, he has been in RHB Investment Management Sdn Bhd (“RHBIM”) for a total of seven (7) years. As the Head of Fixed Income in RHBIM, he was responsible for all fixed income investments, totalling about RM 9 billion worth of funds managed by RHBIM. Prior to RHBIM, he was with SBB Asset Management

19

Sdn Bhd for a year as a credit analyst. Before that, he was with BHLB Asset Management Sdn Bhd and his principal involvement there was in business development and corporate marketing. Yew Joe is a graduate from the University of Southern Queensland with a Bachelor’s Degree, majoring in Accounting and Finance. Syhiful Zamri bin Abdul Azid Senior Vice President, Research and Advisory Syhiful Zamri bin Abdul Azid joined KIB in April 2011. Prior to this, he was with RHB Investment Management Sdn Bhd (“RHBIM”) as Head of Fund Management Research for more than three (3) years. He has also been with KAF Investment Bank for more than five (5) years before joining RHBIM. He has wide experience in both equity and fixed income research and had exposures doing financial analysis and marketing of unit trust funds. He graduated with an Honours Degree from De Montfort University (UK) with Bachelor in Accounting and Finance. He has more than eleven (11) years experience in the industry. Tammi Lim Geok Wah Senior Vice President, Equities Tammi Lim joined KIB in October 2011. Prior to this, she was attached to RHB Investment Management Sdn Bhd as Head of Equities for over four (4) years where she was responsible for the management of over RM1.5 billion of funds from both local and foreign institutions, unit trusts and corporates. She began her career in the stockbroking industry as an investment analyst in TA Securities Holding Berhad and thereafter moved on to the fund management industry with Asialife Insurance Berhad and subsequently, Manulife Insurance Berhad. In both instances, she was responsible for the management of both company’s life funds as well as investment-linked funds amounting in excess of RM1.5 billion. She has more than eighteen (18) years experience in the fund management industry. She graduated from the University of Toledo, Ohio with a Masters of Business Administration, majoring in Finance. Nik Hazim Nik Mohamed Senior Vice President, Investment

Nik Hazim Nik Mohamed joined KIB in April 2009 as a fund manager. Prior to this, he was with Permodalan Nasional Berhad (PNB) having almost fourteen (14) years experience in the company. During his stint in PNB, he had started out managing international funds for proprietary accounts and later on public funds in Singapore. He also has wide experience in managing local unit trust fund for PNB and had exposures doing financial analysis and marketing of unit trust funds. He graduated with an Honours Degree from Universiti Utara Malaysia in Bachelor in Business Administration majoring in Finance. Tan Lip Kwang Vice President, Equities Tan Lip Kwang joined Kenanga Group in May 2007. He started as an analyst in Kenanga Fund Management Berhad and trained as a generalist specializing in Malaysia market. He was promoted as a Portfolio Manager in August 2009 after obtaining his Capital Markets Services Representative’s License in July 2009. Prior to Kenanga Fund Management Berhad, he was an internal auditor with Public Bank for one and a half year. Lip Kwang holds a Bachelor Degree in Finance from Lancaster University and a MSC in Actuarial Science

20

from City University of London. Lip Kwang was appointed as the Portfolio Manager of KIB on 1 November 2010.

6.8 Material Litigation As at 30 April 2014, save as disclosed below, the Manager is not engaged in any litigation or arbitration proceedings, either as plaintiff or defendant which has a material effect on the financial position of the Manager, and the board of directors is not aware of any proceedings pending or threatened, or of any fact likely to give rise to any such proceedings which might materially and adversely affect the position or business of the Manager. An ex-employee of the Manager who was dismissed by the Manager has filed an action under section 20(3) of the Industrial Relations Act 1967 to challenge his dismissal. The ex-employee contends that his dismissal was without just cause or excuse and is seeking to be reinstated to his former position without any loss of salary and benefits. The matter came up for further submissions on 31 January 2011 before the Industrial Court in Kuching. The learned chairman then adjourned the matter and informed us that he will be handing down his written decision on the above matter in due course. As at 30 April 2014, the learned chairman has yet to deliver his decision on the case. The Directors are of the opinion that the claim has no bearing on the performance of the Fund and that it has no adverse effect on the capability of the Manager in discharging its duties and responsibilities to the Unit Holders of the Fund.

6.9 Conflict of Interest The directors and investment committee members should avoid conflicts of interest arising, or if conflicts arise, ensure that the Fund is not disadvantaged by the transaction concerned. Any transaction carried out for or on behalf of the Fund must be executed on terms that are the best available to the Fund and which are no less favourable to the Fund than arm’s length transactions between independent parties. In the event that any of the directors or investment committee members is directly or indirectly involved, he or she would have to abstain from being involved with any decision making process of the said transaction.

KIB has in place policies and procedures which regulates its employees’ securities dealings. Quarterly declaration of securities trading is required of all employees to ensure that there is no potential conflict of interest between the employees’ securities trading and the execution of the employees’ duties to the company and customers of the company.

6.10 Retirement and Removal of Manager Manager’s Right to Retire The Manager has a right to retire in favour of some other corporation by giving to the Trustee three (3) months' notice in writing of their desire so to do, or such other period as the Trustee and the Manager may agree upon, and subject to the fulfilment of the following conditions: • the retiring Manager shall appoint such corporation by writing under the seal of the

retiring Manager as the fund manager of the Fund in its stead and assign and transfer to such corporation all its rights and duties as fund manager of the Fund;

21

• such corporation shall enter into such deed or deeds as the Trustee may consider to be necessary or desirable to secure the due performance of its duties as fund manager for the Fund; and

• upon the payment to the Trustee of all sums due from us to the Trustee at the date of such retirement, the retiring Manager shall be absolved and released from all further obligations under the Deed but without prejudice to the rights of the Trustee or any Unit Holder or other person in respect of any act or omission on our part prior to such retirement and the new fund manager may and shall thereafter exercise all the powers and enjoy all the rights and shall be subject to all the duties and obligations as fully as though such new fund manager had been originally a party to the Deed.

Removal of the Manager The Manager may be removed by the Trustee by way of a Special Resolution passed at a Unit Holders’ meeting (details on Unit Holders Meetings are provided in Chapter 9, Power to Call for Meetings) convened on the grounds that the Manager: • has failed or neglected to carry out their duties to the satisfaction of the Trustee and

the Trustee considers that it would be in the Unit Holders interest to do so after the Trustee has given notice to the Manager of its opinion and the reasons for that opinion, and has considered any representations made by the Manager in respect of that opinion, and after consultation with the relevant authorities;

• unless expressly directed otherwise by the relevant authorities, if the Manager is in breach of any of its obligations or duties under the Deed or the relevant laws, or has ceased to be eligible to be a fund manager under the relevant laws; or

• the Manager has gone into liquidation, except for the purpose of amalgamation or reconstruction or some similar purpose, or has had a receiver appointed or has ceased to carry on business.

The Manager shall upon receipt of a written notice from the Trustee cease to be the fund manager of the Fund by the mere fact of the Manager’s receipt of the notice. The Trustee shall, at the same time, by writing appoint some other corporation already approved by the relevant authorities to be the fund manager of the Fund; such corporation shall have entered into such deed or deeds as the Trustee may consider to be necessary or desirable to secure the due performance of its duties as fund manager for the Fund.

22

CHAPTER 7: TRUSTEE

7.1 Background of the Trustee RHB Trustees Berhad (formerly known as OSK Trustees Berhad) [“RHB Trustees Berhad”] was incorporated in Malaysia under the Companies Act, 1965 on 6 March 2002. It is registered as a trust company under the Trust Companies Act, 1949 and is also registered with the SC to conduct unit trust business. The principal activity of RHB Trustees Berhad is providing retail and corporate trustee services. RHB Trustees Berhad has been in the trustee business since 2002. The present authorised share capital of RHB Trustees Berhad is RM25,000,000 comprising 2,500,000 ordinary shares of RM10.00 each, of which 1,200,000 are currently issued and credited as partially paid-up of RM5.00 each in RHB Trustees Berhad. The shareholders are as follows: Shareholders % RHB Capital Berhad 20 RHB Investment Bank Berhad 20 RHB Nominees (Tempatan) Sdn. Berhad 20 RHB Nominees (Asing) Sdn. Berhad 20 OSK Futures And Options Sdn. Berhad 20 7.2 Financial position of the Trustee The following is a summary of the past performance of the Trustee based on audited accounts for the last 3 years:

Financial Year Ended 31 December

2012 (RM)

2011 (RM)

2010 (RM)

Paid-up capital 6,000,000 6,000,000 6,000,000

Shareholders’ funds 7,075,336 5,657,431 5,266,851

Turnover 7,566,249 6,625,528 6,029,432

Profit before taxation 1,924,026 475,479 465,288

Profit after taxation 1,417,905 390,580 606,623

7.3 Experience in Trustee Business RHB Trustees Berhad undertakes all types of trustee business allowed under the Trust Companies Act, 1949, ranging from corporate trustee services to retail services. RHB Trustees Berhad offers corporate trustee services such as trustee for real estate investment trusts (REITs), unit trust funds, private retirement schemes, private debt securities and custodian services. Its retail services include estate planning services (will writing, custodian and executor/trustee services) and private trustee services (private purpose trust,

23

investment trust, charitable trust, insurance trust, business succession trust, estate administration trust, custodian and stakeholder services). As of 30 November 2013, RHB Trustees Berhad is the trustee for nine (9) unit trust funds, fourteen (14) wholesale funds and three (3) REITs. As of 30 November 2013, RHB Trustees Berhad’s staff strength comprises 39 executives and 5 non-executive staff. 7.4 The Board of Directors The following table sets out information regarding the Board of Directors of the Trustee:

Name Directorship

Dato’ Nik Mohamed Din bin Datuk Nik Yusoff Non-Independent Non-Executive Director (Chairman)

Foo San Kan Independent Non-Executive Director Datuk Haji Faisal @ Ibrahim bin Siraj Independent Non-Executive Director Ong Seng Pheow Independent Non-Executive Director 7.5 Key Personnel of the Trustee Tony Chieng Siong Ung, Deputy Director Mr Tony holds a Master of Business Administration specializing in finance from University of Southern Queensland and professional certification from The Institute of Chartered Secretaries & Administrators (ICSA). Prior to joining RHB Trustees Berhad, he is the Head of Operations with Maybank Securities Services managing a team of 45 staff that covers Trustee, Custodian and Fund Accounting services with over 60 unit trust funds (UTF), 85 private debt securities (PDS) & real estate investment trusts (REITs) and over 3500 accounts under custodianship with Asset under Custody (AUC) worth of more than 70 Billion Ringgit Malaysia. He has more than 17 years experience in financial services industry encompassing hands on experience in day to day operations of trusteeship such as UTF, PDS, REITs, Estate Administrations, Will & Wasiat; custodian roles such as trade settlement and corporate action, fund accounting, asset management, stock broking and insurance. He is responsible for overall business direction and management of RHB Trustees Berhad, including but not limited to business development and day-to-day operations for UTF, REITS and PDS. Beh Soo Ngoh , Associate Director, Unit Trust Ms Beh holds a Bachelor of Commerce in Accounting from University of Southern Queensland and a Diploma in Business Studies from HELP University. Prior to joining RHB Trustees Berhad, she was a Fund Accounting Manager with RBC Investor Services managing a team of 30 staff with more than 250 funds under management. She has more than 11 years experience in financial services industry which includes fund accounting, fund valuation and unit pricing for both local and foreign investments. Her scope of work at RHB Trustees Berhad includes the operations and business development of unit trust funds. Cheah Kuan Yoon , Associate Director, Unit Trust Mr Cheah holds a Bachelor of Arts majoring in Accountancy and Finance from University of Abertay Dundee, Scotland. Prior joining RHB Trustees Berhad, he was a functional consultant with OpenLink International Sdn Bhd. He was a manager in Operation Department, KAF Trustee Berhad for 4 years, where he specialised in fund accounting,

24

administration and settlement operations of high net worth clients’ (institutional and individual) transactional records. He also involved in bond trustee activities including oversee and monitoring funds on designated accounts operations. Mr Cheah started his career as an Executive in CIMB Investment Bank Berhad for 3 years. He was in Financial Accounting Unit where he had extensive experience in firming the foundation of fund management for fixed income services and implementation projects in system user testing. His current scope of work includes managing administration and operations of the unit trust team. Zulkifli Hassan , Senior Manager, Unit Trust Mr. Zulkifli holds a Bachelor’s Degree in Economics majoring in Business Administration from the University of Malaya. He has more than 20 years of experience in the financial services industry including asset management, stock broking and retail banking services. Prior to joining RHB Trustees Berhad, he was an Assistant Manager with MIDF Amanah Asset Management Berhad and his main responsibility was then to oversee the company’s day-to-day operations. His current scope of work includes but is not limited to supervise the operations, administration and compliance of the trustee operations of unit trust funds. Sazali Alias , Senior Manager, Internal Process and Management Mr. Sazali holds a Bachelor of Arts in Business Administration (Marketing) from Benedictine College, Kansas, USA, and Diploma in Business Studies from University MARA Institute of Technology (UiTM). He has more than 12 years experience in financial services industries encompassing hands on experience in day to day operations of nominees, trusteeship services such as unit trust funds, clubs, real estate investment trust and private debt securities. He was a Compliance Manager with AmTrustee Berhad (AmTB). Prior to AmTB, he was an Assistant Vice President in ABB Trustee Berhad (ABBT) and headed ABBT’s Finance & Operations Units. He is currently with RHB Trustees Berhad, and his scope of work includes compliance and business process flow of the Company. 7.6 Trustee’s Declaration RHB Trustees Berhad is independent of the Manager. The Trustee will carry out transactions on an arm’s length basis and on terms which are best available to the Fund, as well as act at all times in the best interest of the Unit Holders. The Trustee also has adequate procedures and processes in place to prevent or control conflicts of interest. RHB Trustees Berhad’s Board of Directors declare that the requirements of the guidelines on allowing a person to be appointed or to act as trustee under subsection 290(1) of the Capital Markets and Services Act 2007 have been complied with at the point of application. 7.7 Duties and responsibilities of the Trustee The Trustee’s functions, duties and responsibilities are set out in the Deed. The general function, duties and responsibility of the Trustee include, but are not limited to, the following: (a) Acting as trustee and safeguarding the rights and interests of the Unit Holders; (b) Holding the assets of the Fund for the benefit of the Unit Holders; and (c) Exercising all the powers of a trustee and the powers that are incidental to the

ownership of the assets of the Fund. The Trustee has covenanted in the Deed that it will exercise all due diligence and vigilance in carrying out its functions and duties, and in safeguarding the rights and interests of Unit Holders.

25

7.8 Anti Money Laundering Provisions RHB Trustees Berhad adopts the Anti-Money Laundering and Counter Financing of Terrorism (“AML/CFT”) Program for Investment Banking Business (“the Program”) in dealing with the principles to combat money laundering and terrorism financing. The Program inter alia provides guidance to all employees of RHB Investment Banking Group (“RHB IB Group”) on the requirement of Know Your Client (“KYC”) / clients’ due diligence (“CDD”), whereby they are required to obtain satisfactory evidence to establish the identity and legal existence of any person applying to do business with any companies of RHB IB Group. The employees should not compromise any attempt to circumvent the CDD requirement. The policies and procedures in the Program serve to prevent RHB Trustees Berhad from being used as a conduit for money laundering and terrorism financing activities. This is through the prevention and detection of AML/CFT suspicious transaction and fraud, and reporting of such activities to the relevant regulatory bodies. 7.9 Disclosure on Related-Party Transactions/Confli ct of Interests There are no existing and/or proposed related party transactions involving or in connection with the Fund. Should there be any proposed related party transaction(s) entered into by the Trustee, such transaction(s) will be on terms that are no less favourable to the Fund, neither will it be detrimental to the interest of the Unit Holders.

7.10 Trustee’s Statement of Responsibility RHB Trustees Berhad has given its willingness to assume the position as Trustee of the Fund and all the obligations in accordance with the Deed, the Guidelines, securities laws and other relevant law, and also its willingness to provide indemnity to the Manager for the benefit of the Unit Holders of the Fund for any loss incurred as a result of any non-performance of the Trustee.

7.11 Trustee’s Delegate

OSK Trustees Berhad has appointed CIMB Group Nominees (Tempatan) Sdn Bhd as the Trustee’s delegate to perform custodial function. CIMB Group Nominees (Tempatan) Sdn Bhd is a wholly owned subsidiary of CIMB Bank Berhad. Its custodial function includes safekeeping, settlement and corporate action related processing and cash and securities reporting. All investments are automatically registered in the name of the Fund. CIMB Group Nominees (Tempatan) Sdn Bhd acts only in accordance with instructions from the Trustee.

26

7.12 Material Litigation & Arbitration As at 30 November 2013, RHB Trustees Berhad is not engaged in any material litigation and arbitration, including those pending or threatened, and is not aware of any fact likely to give rise to any proceedings which might materially affect the business or financial position of RHB Trustees Berhad.

27

CHAPTER 8: RIGHTS AND LIABILITIES OF UNIT HOLDERS

8.1 Unit Holders’ Rights As a Unit Holder of the Fund, and subject to the provisions of the Deed, you have the right: 1. to receive distributions, if any, from the Fund; 2. to participate in any increase in the NAV of Units of the Fund; 3. to call for Unit Holders’ Meetings and to vote for the removal of the Trustee or the

Manager through a Special Resolution; 4. to receive monthly statements, quarterly and annual reports on the Fund; and 5. to exercise such other rights and privileges as provided for in the Deed. However, Unit Holders would not have the right to require the transfer to them any of the investments of the Fund. Neither would Unit Holders have the right to interfere with or to question the exercise by the Trustee (or by the Manager on the Trustee’s behalf) of the rights of the Trustee as trustee of the investments of the Fund.

8.2 Unit Holders’ Liabilities As a Unit Holder of the Fund, and subject to the provisions of the Deed, Unit Holders’ liabilities would be limited to the following: Unit Holders would not be liable for nor would Unit Holders be required to pay any amount in addition to the payment for Units of the Fund as set out in this Information Memorandum and the Deed. Unit Holders would not be liable to indemnify the Trustee and/or the Manager in the event that the liabilities incurred by the Trustee and/or the Manager on behalf of the Fund exceed the NAV of the Fund.

28

CHAPTER 9: POWER TO CALL FOR UNIT HOLDERS ’MEETINGS

9.1 Meetings Directed by the Unit Holders Unit Holders may call for a meeting for any purpose. Unless otherwise required or allowed by the relevant laws, the Manager shall, within twenty-one (21) days of receiving a direction from not less than fifty (50) or one-tenth (1/10) of Unit Holders at the registered office of the Manager, summon a meeting of the Unit Holders by: (a) sending by post at least 14 days before the date of the proposed meeting a notice of

the proposed meeting to all the Unit Holders; and (b) specifying in the notice the place and time of the meeting and the terms of the

resolutions to be proposed at the meeting.

9.2 Meetings Summoned by the Trustee The Trustee may summon a meeting of Unit Holders for any purpose whatsoever by: (a) giving at least 14 days written notice of the meeting to Unit Holders; and (b) specifying in the notice the place and time of the meeting and the terms of the

resolutions to be proposed at the meeting.

9.3 Meetings Summoned by the Manager The Manager may summon a meeting of Unit Holders for any purpose whatsoever by: (a) giving at least 14 days written notice of the meeting to Unit Holders; and (b) specifying in the notice the place and time of the meeting and the terms of the

resolutions to be proposed at the meeting.

9.4 Provisions Governing Unit Holders’ Meetings Quorum The quorum required for a meeting of the Unit Holders shall be five (5) Unit Holders, whether present in person or by proxy, provided that if the Fund has five (5) or less Unit Holders, the quorum required for a meeting of the Unit Holders of the Fund shall be two (2) Unit Holders, whether present in person or by proxy; if the meeting has been convened for the purpose of voting on a Special Resolution, the Unit Holders present in person or by proxy must hold in aggregate at least twenty five per centum (25%) of the Units in circulation at the time of the meeting.

29

If within one (1) hour from the time appointed for the meeting a quorum is not present, the meeting if convened upon the request of Unit Holders shall be dissolved. In any other case, it shall stand adjourned to such day and time seven (7) days thereafter and to such place as may be appointed by the Chairman; at such adjourned meeting, the Unit Holders present in person or by proxy shall be the quorum for the transaction of business including the passing of Special Resolutions if the quorum prescribed by the Deed is not present after one (1) hour from the time appointed for the adjourned meeting. Resolutions passed at a meeting of Unit Holders bind all Unit Holders whether or not they were present at the meeting at which the resolutions were passed. No objection may be made as to any vote cast unless such objection is made at the meeting. Voting by Proxy Every instrument of proxy whether for a specific meeting or otherwise shall, as nearly as circumstances admit, be in the following form or in such other form as the Manager may accept: I/We, ..................................., being a Unit Holder of ......... Units in the ..................... Fund, hereby appoint ............................. or failing him/her, the Chairman of the meeting, as my/our proxy to vote for me/us and on my/our behalf at the Unit Holders' meeting to be held on the ........ day of ................ 20.... and at any adjournment thereof. My said proxy has my instructions to vote: (a)* in favour of the resolutions as stated in the notice of meeting; (b)* against the resolutions as stated in the notice of meeting; (c)* as he/she deems fit in respect of the resolutions as stated in the notice of meeting. * Delete as applicable SIGNED by the said .................... on the .......... day of ........................ 20.... in the presence of: (Witness's signature) (Signature of Unit Holder) The instrument appointing a proxy must be duly stamped, if required, and deposited at the office of the Manager not less than forty-eight (48) hours before the time appointed for the meeting or adjourned meeting as the case may be at which the person named in such instrument proposes to vote. A vote given in accordance with the terms of an instrument of proxy shall be valid notwithstanding the previous death or insanity of the principal or revocation of the proxy or the power of attorney or other authority under which the proxy was signed or the sale of Units in respect of which the proxy was given provided that no intimation in writing of such death, insanity, revocation or sale shall have been received at the place so appointed for the deposit of proxies or if no such place is appointed at the business office of the Manager before the commencement of the meeting or adjourned meeting at which the proxy is used. Chairman of the Meeting The meeting will be chaired if the meeting was convened at the instance of the Unit Holders or the Trustee, by a person appointed by the Unit Holders present at the meeting or, where no such appointment is made, a nominee of the Trustee; or if the meeting was convened at the instance of the Manager, by a person appointed by the Manager.

30

The decision of the Chairman of the meeting on any matter shall be final.

9.5 Termination of the Fund The Fund may be terminated or wound up should the following events occur:

• The SC’s approval is revoked under section 212(7)(A) of the Act; • A Special Resolution is passed at a Unit Holders’ meeting to terminate or wind up the

Fund; and • Such other events and situations as provided in the Deed.

Upon the termination of the Fund, the Trustee shall:

a) sell all the assets of the Fund then remaining in its hands and pay out of the Fund any

liabilities of the Fund; such sale and payment shall be carried out and completed in such manner and within such period as the Trustee considers to be in the best interests of the Unit Holders; and

b) from time to time distribute to the Unit Holders, in proportion to the number of Units held

by them respectively:

i) the net cash proceeds available for the purpose of such distribution and derived from the sale of the investments and assets of the Fund less any payments for liabilities of the Fund; and

ii) any available Cash Produce;

provided always that the Trustee shall not be bound, except in the case of final distribution, to distribute any of the moneys for the time being in his hands the amount of which is insufficient for payment to the Unit Holders of fifty (50) sen in respect of each Unit and provided also that the Trustee shall be entitled to retain out of any such moneys in his hands full provision for all costs, charges, taxes, expenses, claims and demands incurred, made or anticipated by the Trustee in connection with or arising out of the winding-up of the Fund and, out of the moneys so retained, to be indemnified against any such costs, charges, taxes, expenses, claims and demands; each such distribution shall be made only against the production of such evidence as the Trustee may require of the title of the Unit Holder relating to the Units in respect of which the distribution is made. In the event of the Fund is terminated, the Trustee shall be at liberty to call upon the Manager to grant the Trustee, and the Manager shall so grant, a full and complete release from the Deed and the Manager shall indemnify the Trustee against any claims arising out of the Trustee's execution of the Deed provided always that such claims have not been caused by any failure on the part of the Trustee to exercise the degree of care and diligence required of a trustee as contemplated by the Deed and all relevant laws.

Where the termination of the Fund and the winding-up of the Fund have been occasioned by any of the events set out herein: a) if the Manager has gone into liquidation, except for the purpose of reconstruction or

amalgamation upon terms previously approved in writing by the Trustee and the relevant authorities;

31

b) if, in the opinion of the Trustee, the Manager has ceased to carry on business; or c) if, in the opinion of the Trustee, the Manager has to the prejudice of Unit Holders failed to

comply with the provisions of the Deed or contravened any of the provisions of any relevant law;

the Trustee shall summon for a Unit Holders’ meeting to get directions from the Unit Holders. If a Special Resolution is passed to terminate the trust and wind-up the Fund, the Trustee shall apply to the Court for an order confirming such Special Resolution. The Trustee shall, as soon as it becomes aware that the Fund is to be terminated and wound-up, inform the relevant authorities of the same. The Trustee shall also arrange for a final review and audit of the final accounts of the Fund by the auditor of the Fund.

32

CHAPTER 10: OTHER INFORMATION

10.1 Unclaimed Moneys Policy Redemption proceeds payable to Unit Holders who have requested for full or partial redemption of their investments in the Fund that remain unclaimed after twelve (12) months as prescribed by the Unclaimed Moneys Act, 1965 (revised 1989), shall be lodged with the Registrar of Unclaimed Moneys in accordance with the provisions of the Unclaimed Moneys Act, 1965.

10.2 Anti Money Laundering Policy Application for Units must be accompanied by proper identification documents for our verification. All Investors will be checked against various reliable sources for money laundering information. Any cases which are suspicious will be reported to our compliance officer who will then report the matter to the SC and BNM. Money laundering is a process intended to conceal the benefits derived from unlawful activities which are related, directly or indirectly, to any serious offence so that they appear to have originated from a legitimate source. The Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLA) is the act that provides for the offence of money laundering and also the measures to be taken for the prevention of money laundering and terrorism financing offences. The Financial Intelligent Unit of BNM has been established to carry out the functions as the competent authority under the AMLA. All market intermediaries under the CMSA and fund management companies approved by the SC under the CMSA are obliged to comply with the provisions of the AMLA.

10.3 Regulatory Approval The establishment of the Fund is subject to the approval of the SC under section 212 of the Act.

10.4 No Guarantee The Manager of the Fund does not guarantee the performance or success of the Fund. Investors are advised to read the Information Memorandum and obtain professional advice before subscribing to the Fund.

33

10.5 Enquiries All enquiries about the investment should be directed in writing to:- Kenanga Investors Berhad Suite 12.02, 12th Floor Kenanga International Jalan Sultan Ismail, 50250 Kuala Lumpur Telephone No.: 03-2057 3688/ 03-2713 3188 Facsimile No.: 03-2161 8807/ 03-2713 5868 Email: investorservices@kenanga.com.my

Kenanga Investors Berhad Suite 12.02, 12th floor, Kenanga International

Jalan Sultan Ismail, 50250 Kuala Lumpur Malaysia Tel: 03-2057 3688 Fax: 03-2161 8807/ 03-2713 5868 Website: www.kenangainvestors.com.my Email: investorservices@kenanga.com.my