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Policy on Block Trading

1. Basic Strategy

Amova AM will place block trades for transactions of a number of investment trust assets managed by Amova AM if these transactions all have the same terms of sales (including the type and description of securities concerned, whether orders are buy orders or sell orders, kind of transactions, and the price or price range of orders). The firm may also combine different types of invested assets (investment trust assets, assets managed based on discretionary investment contracts, and assets whose transactions are entrusted to us by our overseas asset management partners) for block trading. In some cases, payments or settlements for transactions ordered in block will be made based on average per-unit prices.

2. Securities and Transactions Concerned

Block trading will be limited to cash transactions of securities, such as stocks and Real Estate Investment Trusts (REITs).

3. Allocation of Transaction Results

If transactions ordered in block are partially completed (i.e., if the total amount of transactions completed is below the total amount of transactions ordered), the results of transactions will be allocated to each one of the invested assets concerned in the following way:

For both sell orders and buy orders, the amount of relevant assets ordered for transactions is divided by the total amount of orders, and multiply the quotient by the total amount of transactions completed to obtain the amount to be allocated, within the limit of the amount of relevant assets ordered for transactions.

Fractional amounts below the unit of transaction in the above result are to be truncated. Any difference between the sum of the allocated amounts calculated by the above method and the total amount of transactions completed will be allocated in accordance with company rules.

4. Basic Policy for Best Execution

The purpose of block trading is to ensure equity between invested assets. Therefore, AmovaAM will not work to promote the interests of any particular assets, or act against the interests of customers by giving priority to the interests of our company. Invested assets deemed inappropriate for block trading due to market trends, urgency of transactions, or the characteristics of the assets will be excluded from block trading. In order to maximize cost-performance, we may also divide block trading based on comprehensive examinations of conditions such as market situations and prices.

5. Sensitive Information

In order to implement our policy on block trading, we will prepare business operation manuals and formulate company regulations, and management departments including the Compliance Department will check business operation systems involved in block trading.

Important Information

The funds mentioned are Japan registered funds approved for sale or purchase in Japan. By proceeding, you are representing and warranting that you are either resident in Japan or the applicable laws and regulations of your jurisdiction allow you to access the information.

The information on this website is not intended to be an offer, or a solicitation of an offer, to buy or sell any product or service to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction.

This website may contain links to the website of certain overseas affiliates of Amova Asset Management Asia Limited ("Amova Asia"). However, providing such links should not be considered as offering or solicitation by Amova Asia of any product or service of its affiliates to any person.

This website is purely for informational purposes only with no consideration given to the specific investment objective, financial situation and particular needs of any specific person. It should not be relied upon as financial advice. The mention of individual securities, sectors, regions or countries within this website are for illustration purposes only and does not imply a recommendation to buy or sell. You should seek advice from a financial adviser before making any investment. In the event that you choose not to do so, you should consider whether the investment selected is suitable for you. Investments in funds are not deposits in, obligations of, or guaranteed or insured by Amova Asia.

Past performance or any prediction, projection or forecast is not indicative of future performance. The Funds or any underlying funds may use or invest in financial derivative instruments. The value of units and income from them may fall or rise. Investments in the Funds are subject to investment risks, including the possible loss of principal amount invested. You should read the relevant prospectus (including the risk warnings) and product highlights sheet of the Funds, which are available and may be obtained from appointed distributors of Amova Asia or our website www.amova.com.sg before deciding whether to invest in the Funds.

The information contained herein may not be copied, reproduced or redistributed without the express consent of Amova Asia. While reasonable care has been taken to ensure the accuracy of the information as at the date of publication, Amova Asia does not give any warranty or representation, either express or implied, and expressly disclaims liability for any errors or omissions. Information may be subject to change without notice. Amova Asia accepts no liability for any loss, indirect or consequential damages, arising from any use of or reliance on this website.