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IMPORTANT DISCLAIMERS AND NOTICE

The information contained in this publication (including any articles referred to in this publication) shall not be regarded as an offer, recommendation, solicitation or advice to buy or sell any investment product and shall not be transmitted, disclosed, copied or relied upon by any person for whatever purpose. Any description of investment products is qualified in its entirety by the terms and conditions of the investment product and if applicable, the prospectus or constituting document of the investment product. Nothing in this publication (including any articles referred to in this publication) constitutes accounting, legal, regulatory, tax, financial or other advice. If in doubt, you should consult your own professional advisers about issues discussed herein.

You may wish to seek advice from a financial adviser before purchasing units in any unit trust (the "Fund"). In the event that you choose not to seek advice from a financial adviser, you should consider carefully whether the Fund in question is suitable for you. Past performance of the Fund or the manager of the Fund (the "Fund Manager"), and any economic and market trends or forecast, are not necessarily indicative of the future or likely performance of the Fund or the Fund Manager and any past performance, prediction, projection or forecast on the economy, stock market, bond market or the economic trends of the markets is not necessarily indicative of their future or likely performance or that of the Fund.

The Fund may invest in Additional Tier 1 or Tier 2 instruments. Such instruments may carry higher risks, including the risk of loss of principal.

This advertisement has not been reviewed by the Monetary Authority of Singapore.