Am-Namaa’ Asia-Pacific Equity Growth Namaa’ …...Am-Namaa’ Asia-Pacific Equity Growth...

Am-Namaa’ Asia-Pacific Equity GrowthNamaa’ Asia-Pacific Equity GrowthAm-Mateen Asia-Pacific Equity

Investors are advised to read and understand the contents of the prospectus. If in doubt, please consult a professional adviser. For information concerning certain risk factors which should be considered by prospective investors, see “Risk Factors” commencing on page 14.

Deutsche Trustees Malaysia Berhad 763590-H

This Prospectus is dated 11 August 2015 and expires on 10 August 2016

Am-Namaa’ Asia-Paci�c Equity Growth (11 Aug 2008)Namaa’ Asia-Paci�c Equity Growth (15 Aug 2008)Am-Mateen Asia-Paci�c Equity (5 May 2011)

AmInvestment Services Berhad*

* With e�ect from 10 September 2015, the Manager will be known as AmFunds Management Berhad.

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PREFACE Dear Prospective Investors, This Prospectus introduces you to the following three (3) unit trust funds: 1. Am-Namaa’ Asia-Pacific Equity Growth 2. Namaa’ Asia-Pacific Equity Growth 3. Am-Mateen Asia-Pacific Equity You may refer to pages 6 to 13 of Chapter 1: Key Data of the Fund for a better understanding of the objectives and key strategies of each of the Funds, specific risks of investing in the Funds, profile of investors suitable to invest in the Funds and fees and charges payable. You may submit an application to subscribe or redeem units of the Funds at AmBank and selected Institutional Unit Trust Advisers (IUTAs). Our list of distributors where the application may be made are listed on page 83. Finally, thank you for your interest in Am-Namaa’ Asia-Pacific Equity Growth, Namaa’ Asia-Pacific Equity Growth and Am-Mateen Asia-Pacific Equity. ……………………………. Datin Maznah Mahbob Chief Executive Officer AmInvestment Services Berhad* Note: Please refer to pages 1 to 3 for definition of words in caption above. * With effect from 10 September 2015, the Manager will be known as AmFunds Management Berhad.

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DISCLAIMER Responsibility Statements This Prospectus for Am-Namaa’ Asia-Pacific Equity Growth, Namaa’ Asia-Pacific Equity Growth and Am-Mateen Asia-Pacific Equity dated 11 August 2015 (hereinafter referred as “Prospectus”) has been reviewed and approved by the Directors of AmInvestment Services Berhad and they collectively and individually accept full responsibility for the accuracy of the information. Having made all reasonable enquiries, they confirm to the best of their knowledge and belief, that there are no false or misleading statements, or omission of other facts which would make any statement in this Prospectus false or misleading. Statements of Disclaimer The Securities Commission Malaysia has authorized the Funds and a copy of this Prospectus has been registered with the Securities Commission Malaysia. The authorization of the Funds, and registration of this Prospectus, should not be taken to indicate that Securities Commission Malaysia recommends the Funds or assumes responsibility for the correctness of any statement made, opinion expressed or report contained in this Prospectus. The Securities Commission Malaysia is not liable for any non-disclosure on the part of AmInvestment Services Berhad, the management company responsible for the Funds and takes no responsibility for the contents in this Prospectus. The Securities Commission Malaysia makes no representation on the accuracy or completeness of this Prospectus, and expressly disclaims any liability whatsoever arising from, or in reliance upon, the whole or any part of its contents. INVESTORS SHOULD RELY ON THEIR OWN EVALUATION TO ASSESS THE MERITS AND RISKS OF THE INVESTMENT. IF INVESTORS ARE UNABLE TO MAKE THEIR OWN EVALUATION, THEY ARE ADVISED TO CONSULT PROFESSIONAL ADVISERS. Additional Statements No units will be issued or sold based on this Prospectus later than one year after the date of this Prospectus. Investors should note that they may seek recourse under the Capital Markets and Services Act 2007 for breaches of securities laws and regulations including any statement in this Prospectus that is false, misleading, or from which there is a material omission; or for any misleading or deceptive act in relation to the Prospectus or the conduct of any other person in relation to the Funds. Am-Namaa’ Asia-Pacific Equity Growth, Namaa’ Asia-Pacific Equity Growth and Am-Mateen Asia-Pacific Equity have been certified as being Shariah compliant by the Shariah Adviser appointed for the Funds. This Prospectus does not constitute an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make such offer or solicitation. An investment in a Fund is not a deposit of any bank. Neither returns nor repayments of capital are guaranteed by any member of the AmBank Group or its group of companies.

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An investment in a Fund carries with it a degree of risk. The value of units and the income from it, if any, may go down as well as up, and investors may not get back the amount invested. Investors should consider the risk factors set out under the heading Risk Factors in this Prospectus. Statements made in this Prospectus are based on the law and practice currently in force in Malaysia and are subject to changes in such law. No person has been authorized to issue any advertisement or to give any information, or to make any representations in connection with the offering, placing, subscription, sale, switching or redemption of units in the Funds other than those contained in this Prospectus or any supplemental therein and, if issued, given or made, such advertisement, information or representations must not be relied upon by an investor. Any purchase made by any person on the basis of statements or representations not contained in or inconsistent with the information and representations in this Prospectus or any supplemental therein will be solely at the risk of the investor. Investors may wish to consult their independent professional adviser about the suitability of these Funds for their investment needs. Investors in the Funds agree that personal details contained on the application form and data relating to them may be stored, modified and used in any other way by the Funds or the Manager or the Manager’s associated companies within the AmBank Group and its group of companies for the purposes of administering and developing the business relationship with the investor. The Funds have not been and will not be offered for sale or sold in the United States of America, its territories or possessions and all areas subject to its jurisdiction, or to United States persons, except in a transaction which does not violate the securities laws of the United States of America. Personal Data As part of our day to day business, we collect your personal information when you apply to open an account with us, subscribe to any of our products or services or communicate with us. In return, we may use this information to provide you with our products or services, maintain our records or send you relevant information. We may use your personal information for one or more of the following purposes, whether in Malaysia or otherwise:

a. Access and manage your application(s) for our products and services so that we can

provide you with more and up to-date information such as improvements and new features to the existing products and services, development of new products and service and promotions by AmInvestment Services Berhad and/or AmBank Group, which may be of interest to you;

b. Manage and maintain your account through regular updates, consolidation and improving the accuracy of our records. In this manner we can respond to your enquiries, complaints and to generally resolve disputes quickly so that we can improve our business and your relationship with us;

c. Conduct research for analytical purposes, data mining and analyses of your transactions /use of products and services to better understand your current financial/investment position and future needs. We will also produce data, reports and statistics from time to time, however such information will be aggregated so that your identity will remain confidential. Sometimes it may be necessary if required, to verify your financial standing through credit reference/reporting checks;

d. Comply with the requirements of any law binding on us such as conducting anti-money laundering checks, crime detection or prevention, prosecution, protection or

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enforcement of our rights to recover any debt owing to us including transferring or assigning our rights, interests and obligations under any of your agreement with us;

e. Perform shared services within AmBank Group such as audit, compliance, legal, human resource, risk management including assessing financial risks;

f. Outsourcing of business and back-room operations within AmBank Group; and g. Any other purpose(s) that is required or permitted by any law, regulations, guidelines

and/or relevant regulatory authorities including the respective trustee of the fund you invest in.

Investors are advised to read our latest or updated Privacy Notice (notice provided as required under Personal Data Protection Act 2010) available on our website at www.aminvest.com. Our Privacy Notice may be revised from time to time and if there is/are any revision(s), it will be posted on our website and/or other means of communication deemed suitable by us. However any revision(s) will be in compliance with the Personal Data Protection Act 2010. Note: Please refer to pages 1 to 3 for definition of words in caption above.

http://www.aminvest.com.

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CONTENTS

1 Definitions

4 Corporate Directory

6 Key Data of the Fund Fund Information Fees and Charges Transaction Details List of Current Deed and Supplementary Deed

14 Risk Factors General risks of investing in the Funds Specific risks uniquely associated with the investment portfolio of Am-Namaa’ Asia-Pacific Equity Growth and Am-Mateen Asia-Pacific Equity Specific risks uniquely associated with Namaa’ Asia-Pacific Equity Growth

18 The Fund’s Detailed Information Fund Information Permitted Investment, Investment Restriction and Shariah Investment Guidelines Valuation of Assets

29 The Information on the Target Fund The Management of the Target Fund Investment Objective Investment Policy and Strategy Risk Management Investment Universe Historical Performance of Target Fund Fees charged by the Target Fund

32 Fund Performance Information Average Total Return Annual Total Return Distribution Portfolio Turnover Ratio (PTR) Sectoral Composition Historical Financial Statements of the Funds Management Expense Ratio (MER)

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38 Fees, Charges and Expenses

Charges Ongoing Fees and Expenses Rebates and Soft Commission

44 Transaction Information Pricing & Valuation Point Making an initial investment Other relevant information when making an investment Making withdrawals Temporary Suspension of Determination of NAV and of the Issue, Switching and redemption of units Foreign Exchange Transaction Income Distribution Unclaimed Monies Distribution Channels

54 Salient Terms Of The Deed Rights and Liabilities of Unit Holders Fees and Charges permitted by the Deed Permitted expenses payable out of the Fund Retirement, Removal or Replacement of the Trustee Retirement, Removal or Replacement of the Manager Termination of the Fund Termination of the Fund by the Manager or the Trustee Unit Holders’ meeting

58 Related Party Transactions/Conflict of Interest

59 Additional Information Keeping You Informed Keeping Us Informed Customer Identification Program How Do You Make A Complaint

62 Documents Available for Inspection

63 Managing The Fund’s Investment The Manager Duties and Responsibilities of The Manager The Board of Directors The Investment Committee Key Personnel of the Manager Material Litigation The Investment Manager Key Personnel of the Investment Manager Delegation of Fund Accounting and Valuation Services The Shariah Adviser

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71 The Trustee Deutsche Trustees Malaysia Berhad Financial Performance Experience in Trustee Business Board of Directors and Chief Executive Officer Duties and Responsibilities of the Trustee Trustee’s Statement of Responsibility Trustee’s Disclosure of Material Litigation Trustee’s Delegate (Custodian) Disclosure on Related-Party Transactions/ Conflict of Interests

74 Exemptions from the SC Guidelines on Unit Trust Funds

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Approvals and Conditions

76 Taxation

82 Consent

83 Directory

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DEFINITIONS

AIFM, Investment Manager

AmIslamic Funds Management Sdn Bhd

AIS, Manager, Company, us, our or we

AmInvestment Services Berhad. With effect from 10 September 2015, the Manager will be known as AmFunds Management Berhad.

AmBank AmBank (M) Berhad

AmBank Group Refers to AMMB Holdings Berhad and all its direct and indirect subsidiaries, including, but not limited to: AmBank (M) Berhad, AmIslamic Bank Berhad, AmInvestment Bank Berhad, AmInvestment Group Berhad, AmInvestment Services Berhad, AmIslamic Funds Management Sdn Bhd, AmFutures Sdn Bhd, AmCard Services Berhad, AmGeneral Insurance Berhad, AmLife Insurance Berhad and AmFamily Takaful Berhad

AmInvest

The brand name for the funds management business of AMMB Holdings Berhad comprising AmInvestment Services Berhad and AmIslamic Funds Management Sdn Bhd

AmInvestment Bank AmInvestment Bank Berhad

AmInvestment Group Berhad

AmInvestment Group Berhad and its group of companies

Auditor Has the same meaning as defined in the CMSA 2007

Business Day A day on which commercial banks are open for business in Malaysia other than Saturday, Sunday or public holiday. The Manager may declare certain Business Day to be a non-Business Day although commercial banks are open, if the market in which the Funds are invested is closed for business. This is to ensure that investors are given a fair valuation of the Funds when making subscription or withdrawal.

CIS Collective Investment Scheme, for the purpose of this Prospectus; it refers to the unit trust schemes which the Fund invests in.

CMSA 2007, the Act Capital Markets And Services Act 2007 and any amendments made thereto.

Dealing Currency USD, RM

Deeds The Master Deed and any Supplemental Deed in respect of the Funds made between the Manager, the Trustee and the Unit Holders of the Funds

FATCA Foreign Account Tax Compliance Act

Feeder Fund Namaa’ Asia-Pacific Equity Growth

Funds Am-Namaa’ Asia-Pacific Equity Growth, Namaa’ Asia-Pacific Equity Growth and Am-Mateen Asia-Pacific Equity (Individually hereinafter referred to as the “Fund”)

GST Goods and services tax, which includes any tax payable on the supply of goods, services, or other things in accordance with the

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provisions of GST Law

GST Law The Goods and Services Tax Act 2014, subsidiary legislations, statutory orders and regulations governing the application of GST, as amended from time to time

Haram Anything unlawful according to the Shariah

H Shares The shares of companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange.

IUTA Institutional Unit Trust Adviser registered with the Federation of Investment Managers Malaysia (FiMM) to market and distribute unit trust funds.

Latest Practicable Date 31 May 2015

Longer term (in the context of the investment objective)

The Fund seeks to invest in a portfolio of mainly growth stocks (i.e. stocks of companies that have a strong potential for earnings growth), which will normally take over a period of 3 years and above to achieve capital appreciation.

Medium to Long term (in the context of the investment horizon)

The proposed investor’s holding of the Fund for 3-5 years in order for the Fund to realise its investment objective.

MER Management Expense Ratio

NAV Net Asset Value, the value of all the Fund’s assets less the value of all the Fund’s liabilities at the valuation points. For the purpose of computing the management fee and trustee fee, the NAV of the Fund should be inclusive of the management fee and trustee fee for the relevant day.

NAV per unit The NAV of the Fund divided by the number of units in circulation, at the valuation point.

Prospectus Prospectus for Am-Namaa’ Asia-Pacific Equity Growth, Namaa’ Asia-Pacific Equity Growth and Am-Mateen Asia-Pacific Equity dated 11 August 2015

Riba An increase, an addition, or a premium that must be paid by the borrower to the lender along with the principal amount as a condition for the loan or an extension in its maturity.

RM Malaysian Ringgit

SAC Shariah Advisory Council of the Securities Commission

SC Securities Commission Malaysia

SC Guidelines Guidelines on Unit Trust Funds issued by the Securities Commission Malaysia, and shall include any amendments and revisions contained therein or made pursuant thereto.

Shariah The Islamic Law comprising the whole body of rulings pertaining to human conducts derived from the sources of the Shariah. The primary sources are the Quran, the Sunnah, Ijma’ and Qiyas, while the secondary ones are those established sources such as Maslahah, Istihsan, Istishab ‘Uruf and Sadd Zara’ie.

Shariah Adviser Al Rajhi Banking & Investment Corporation (Malaysia) Berhad

Shariah Compliant Shariah-compliant refers to compliance to Shariah rulings and

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decisions issued by the Shariah Advisory Council of Securities Commission Malaysia and the Shariah Adviser of the Fund, and as determined by other relevant bodies.

Shariah Investment Guidelines

The Shariah Investment Guidelines as detailed in pages 24 to 27 which are based on Principles of Islamic Law which are embodied in the Qur’an, Sunnah of the Prophet Muhammad as well as the interpretations of the Muslim jurists.

Sukuk Sukuk means a document or certificate, documenting the undivided ownership or investment in the assets in accordance with Shariah principles and concepts.

Target Fund Am-Namaa’ Asia-Pacific Equity Growth

Trustee Deutsche Trustees Malaysia Berhad

Trustee’s Delegate, Custodian Deutsche Bank (Malaysia) Berhad

Unit Holder(s), investor(s), applicant, you

The person(s) for the time being registered under the provision of the Deed as a holder of units and includes the Manager and joint holders

US (United States) Person

A citizen or resident of the United States of America, a partnership organized or existing under the laws of any state, territory or possession of the United States of America, or a corporation organised under the laws of the United States of America or of any state, territory or possession thereof, or any estate or trust, other than an estate or trust the income of which from sources outside the United States of America is not includable in gross income for purpose of computing United States income tax payable by it. If a unit holder subsequently becomes a “United States Person” and such fact comes to the attention of the Manager, units owned by that person may be compulsorily repurchased by the Manager.

USD US dollar

Withdrawal, exit Redemptions or repurchases

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CORPORATE DIRECTORY MANAGER AmInvestment Services Berhad* Company number: 154432-A Registered office 22nd Floor, Bangunan AmBank Group, No. 55, Jalan Raja Chulan, 50200 Kuala Lumpur Tel: (03) 2036 2633 Head office 9th & 10th Floor, Bangunan AmBank Group, No. 55, Jalan Raja Chulan, 50200 Kuala Lumpur Tel: (03) 2032 2888 Fax: (03) 2031 5210 Email: [email protected] Website Address: www.aminvest.com Board of Directors Kok Tuck Cheong (Non-Independent) Tai Terk Lin (Independent) Mustafa Bin Mohd Nor (Independent) Datin Maznah Mahbob (Non-Independent) Harinder Pal Singh (Non-Independent) Mohd Fauzi Mohd Tahir (Non-Independent) Investment Committee Harinder Pal Singh (Non-Independent) Dato’ Mohd Effendi bin Abdullah (Non-Independent) Tai Terk Lin (Independent) Mustafa Bin Mohd Nor (Independent) Dr. Frank Richard Ashe (Independent) Audit Compliance Committee Kok Tuck Cheong (Non-Independent) Tai Terk Lin (Independent) Mustafa Bin Mohd Nor (Independent) Secretary Koh Suet Peng (MAICSA 7019861) 22nd Floor, Bangunan AmBank Group, No. 55, Jalan Raja Chulan, 50200 Kuala Lumpur Note: * With effect from 10 September 2015, the Manager will be known as AmFunds Management Berhad.

MANAGER’S DELEGATE (INVESTMENT MANAGER) AmIslamic Funds Management Sdn Bhd Company number: 830464-T Registered office 22nd Floor, Bangunan AmBank Group, No. 55, Jalan Raja Chulan, 50200 Kuala Lumpur Business office 9th &10th Floor, Bangunan AmBank Group No. 55, Jalan Raja Chulan, 50200 Kuala Lumpur Tel: (03) 2032 2888 Fax: (03) 2031 5210 MANAGER’S DELEGATE (FUND ACCOUNTING AND VALUATION SERVICE PROVIDER) Deutsche Bank (Malaysia) Berhad Company number: 312552-W Registered office Level 18 Menara IMC, No. 8, Jalan Sultan Ismail, 50250 Kuala Lumpur Tel: (03) 2053 6788 Fax: (03) 2031 8710 TRUSTEE Deutsche Trustees Malaysia Berhad Company number: 763590-H Registered office/Business office Level 20, Menara IMC, No. 8 Jalan Sultan Ismail, 50250 Kuala Lumpur Tel: (03) 2053 7522 Fax: (03) 2053 7526

mailto:[email protected]

http://www.aminvest.com

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TRUSTEE’S DELEGATE (CUSTODIAN) Deutsche Bank (Malaysia) Berhad Company number: 312552-W Registered office Level 18 Menara IMC, No. 8, Jalan Sultan Ismail, 50250 Kuala Lumpur Tel: (03) 2053 6788 Fax: (03) 2031 8710 Business office Level 18-20 Menara IMC, No. 8, Jalan Sultan Ismail, 50250 Kuala Lumpur Tel: (03) 2053 6788 Fax: (03) 2031 8710 TAXATION ADVISOR Deloitte Tax Services Sdn Bhd Company number: 36421-T Level 16, Menara LGB No.1, Jalan Wan Kadir Taman Tun Dr.Ismail 60000 Kuala Lumpur Tel: (03) 7610 0888 Fax: (03) 7725 7768 AUDITOR Ernst &Young AF 0039 Level 23A, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, 50490 Kuala Lumpur Tel: (03) 7495 8000 Fax: (03) 2095 9076 SHARIAH ADVISER Al Rajhi Banking & Investment Corporation (Malaysia) Berhad Company No : 719057-X Registered office Ground Floor, East Block, Wisma Selangor Dredging, 142-B, Jalan Ampang, 50450 Kuala Lumpur Tel: (03) 2301 7000 Fax: (03) 2170 7100 Website: www.alrajhibank.com.my FEDERATION OF INVESTMENT MANAGERS MALAYSIA (FiMM) 19-06-1, 6th Floor, Wisma Tune No. 19, Lorong Dungun, Damansara Heights 50490 Kuala Lumpur Tel: (03) 2093 2600 Fax: (03) 2093 2700 Email: [email protected] Website: www.fimm.com.my

http://www.alrajhibank.com.my


http://www.fimm.com.my

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KEY DATA OF THE FUND The description on the following pages introduces you to the Funds and helps you decide whether the Funds best fits your investment needs. Keep in mind, however that no Fund can guarantee it will meet its investment objective at all times, and no Fund should be relied upon as a complete investment program. This section is only a summary of the salient information about the Funds and investors should read and understand the whole Prospectus before making investment decisions. FUND INFORMATION

Am-Namaa’ Asia-Pacific Equity Growth

Category of Fund / Type

Equity (Shariah Compliant) / Growth

Investment Objective

The Fund seeks to grow the value of investment in the Longer term by investing in listed equities and equities related investments and other Islamic instruments that conform to the Shariah Investment Guidelines across Asia Pacific (ex-Japan) region. Note: Any material change to the investment objective of the Fund would require Unit Holders’ approval.

Investment Strategy To invest predominantly in Shariah-compliant equities and other Shariah-compliant investments and instruments.

Asset Allocation Up to 100% of the NAV of the Fund will be invested equities and equity related investments that conform to the Shariah Investment Guidelines.

Performance Benchmark

Dow Jones Islamic Market Index Asia-Pacific (ex-Japan) (obtainable: www.aminvest.com) Note: The risk profile of the Fund is not the same as the risk profile of the performance benchmark.

Base Currency USD

Dealing Currency USD

Investor Profile The Fund is suitable for investors seeking:

investment exposure to Asia Pacific (ex-Japan);

capital appreciation; and

Medium to Long term investments goals

Specific Risk associated with the Fund

Company specific risk

Currency risk

Shariah non-compliance risk

Liquidity risk

Income Distribution Not available

http://www.aminvest.com)

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policy

Launch date 11 August 2008

Financial Year End 31 October


Investment Manager AIFM

Namaa’ Asia-Pacific Equity Growth

Category of Fund / Type Feeder Fund (Shariah Compliant Equity) / Growth


The Fund seeks to grow the value of investment in the Longer term by investing in listed equities and equities related investments and other Islamic instruments that conforms to the Shariah Investment Guidelines across Asia Pacific (ex-Japan) region. Note: Any material change to the investment objective of the Fund would require Unit Holders’ approval.

Investment Strategy A minimum of 95% of the Fund’s NAV will be invested in Am-Namaa’ Asia-Pacific Equity Growth.

Asset Allocation A minimum of 95% of the Fund’s NAV will be invested in Am-Namaa’ Asia-Pacific Equity Growth while maintaining a maximum of 5% of the Fund’s NAV in liquid assets. The Fund is denominated in RM.


Dow Jones Islamic Market Index Asia Pacific (ex-Japan) (obtainable: www.aminvest.com) Note: The risk profile of the Fund is not the same as the risk profile of the performance benchmark.

Base Currency RM



capital appreciation; and

Medium to Long term investment goals


Currency risk

Risk of passive strategy


Risk of not meeting the Fund’s investment objective

Liquidity risk

Specific Risk Associated with the


Currency risk

Liquidity risk


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Target Fund Shariah non-compliance risk

Income Distribution policy

Income distribution (if any) is incidental and will be automatically be reinvested. Note: Income distributed will be automatically reinvested at no cost, based on the NAV per unit at the end of the Business Day of the income distribution date.





Target Fund Information

Name of the Target Fund


Management Company AIS

Investment Manager of the Target Fund AIFM

Regulatory Authority SC

Domicile Country Malaysia


Am-Mateen Asia-Pacific Equity

Category of Fund / Type

Equity (Shariah Compliant) / Growth


The Fund is a Shariah Compliant equity fund that seeks to grow the value of investments over the medium to long term (i.e between three to five years) by investing in listed equities, equity related investments and other approved instruments across Asia Pacific (ex-Japan) that conforms to the Shariah Investment Guidelines. Note: Any material change to the investment objective of the Fund would require Unit Holders’ approval.

Investment Strategy The Investment Manager’s investment strategy is to select a core portfolio of low volatility and high dividend stocks with a three (3) year

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time horizon coupled with a value approach to identify undervalued companies due to economic cycles which have been ignored relative to historical patterns.

Asset Allocation Between 70% and 95% of the Fund’s NAV in equity and equity related instruments.

Between 5% and 30% of the Fund’s NAV in liquid assets. In making the above investment the Fund will be guided by the Shariah Investment Guidelines mentioned on pages 24 to 27.



Base Currency USD

Dealing Currency RM, USD



steady growth-potential capital appreciation with lower volatility; and

have Medium to Long term investment horizon goals



Currency risk


Liquidity risk

Income Distribution Policy

Income distribution (if any) is incidental Note: Income distributed will be automatically reinvested at no cost, based on the NAV per unit at the end of the Business Day of the income distribution date.

Launch date 5 May 2011





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FEES AND CHARGES Charges This table describes the charges that you may directly incur when you buy or redeem units of the Funds:

Name of Fund




Entry Charge The maximum rate imposed by each distribution channel during the life of this Prospectus is :

Distribution channel Maximum entry charge

Direct Sales Up to 5.00% of NAV per unit of the Fund

IUTA Up to 5.00% of NAV per unit of the Fund

Note: All entry charges will be rounded up to two (2) decimal points. Investors are advised that you may negotiate for lower entry charge prior to the conclusion of sales. The Manager reserves the right to waive or reduce the entry charge from time to time at its absolute discretion. There will be no double charging of the entry fee for the Feeder Fund and Target Fund.

Exit Penalty Nil

Other Charges

Switching fee

For switches between any of the funds managed by AIS, you may be charged up to 6% of amount switched. Bank charges/fees

You may incur bank charges/fees from time to time for any delay or failure in settling the application proceeds.

Note: All fees, charges and expenses disclosed in the Prospectus are expressed on a GST-exclusive basis. Accordingly, to the extent that services provided are subject to GST, the amount of GST payable on any related fees, charges and/or expenses will be payable by the Unit Holder and/or the Fund (as the case may be) in addition to the fees, charges and expenses disclosed in the Prospectus.

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Fees and Expenses This table describes the fees and expenses that you may indirectly incur when you invest in the Funds:

Name of Fund

Am-Namaa’ Asia- Pacific Equity Growth


Am-Mateen Asia- Pacific Equity

Management Fee Up to 1.80% p.a. of the NAV of the Fund

Trustee Fee

Up to 0.08% p.a. of the NAV of the Fund

Up to 0.08% p.a. of the NAV of the Fund, subject to a minimum fee of RM10,000 p.a.

Shariah Adviser Fee

Up to 0.04% p.a. of the NAV of the Fund

Nil Up to 0.04% p.a. of the NAV of the Fund

Fund Expenses

A list of the expenses directly related to the Funds are as follows :

audit fees;

tax agent’s fees;

printing and postages of annual and interim reports;

bank charges;

investment committee fee for independent members;

custodian fee (not applicable to Namaa’ Asia-Pacific Equity Growth);

lodgment fee for Fund’s reports;

commission paid to the brokers(if any); and

other expenses as permitted by the Deed.


For more details on fees, charges and expenses of the Funds, please refer to pages 38 to 43.

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TRANSACTION DETAILS

Name of Fund Am-Namaa’ Asia-

Pacific Equity Growth Namaa’ Asia-Pacific

Equity Growth Am-Mateen Asia-

Pacific Equity

Minimum Initial Investment

USD10,000 RM1,000 RM1,000 or USD500

or such amount as the Manager may from time to time decide

Minimum Additional Investment

USD10,000 RM500 RM500 or USD250

or such amount as the Manager may from time to time decide

Minimum Repurchase Units

10,000 units 500 units

or such units as the Manager may from time to time decide

Minimum Holding/Balance Units

10,000 units 1,000 units

or such units as the Manager may from time to time decide

Switching Facility Switching is only allowed at the Manager’s discretion.

Transfer Facility Transfer is only allowed at the Manager’s discretion.

Cooling-off Rights

You should be aware that the cooling-off right is only available on your first investment with the Manager. Subsequent investments will not enjoy this right. The cooling-off right is not available to corporation/institution, staff of the Manager and persons dealing in unit trust of the Manager. Note: Only applicable to Namaa’ Asia-Pacific Equity Growth & Am-Mateen Asia-Pacific Equity.

Cooling-off Period

Six (6) Business Days of making the investment. The cooling-off period commences from the day we accept complete documentation with payment.

Please refer to pages 47 to 51 for details on how to make an application or withdrawal.

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LIST OF CURRENT DEED AND SUPPLEMENTARY DEED

Am-Namaa’ Asia-Pacific Equity Growth Master Deed dated 5 June 2008

Supplemental deed dated 25 February 2015

Namaa’ Asia-Pacific Equity Growth Master Deed dated 5 June 2008

Supplemental deed dated 25 February 2015

Am-Mateen Asia-Pacific Equity Master Deed dated 25 November 2010

Supplemental deed dated 25 February 2015 THERE ARE FEES AND CHARGES INVOLVED AND INVESTORS ARE ADVISED TO CONSIDER THEM BEFORE INVESTING IN THESE FUNDS. UNIT PRICES AND DISTRIBUTIONS PAYABLE, IF ANY, MAY GO DOWN AS WELL AS UP. PAST PERFORMANCES OF THE FUNDS ARE NOT INDICATION OF THEIR FUTURE PERFORMANCES. FOR INFORMATION CONCERNING CERTAIN RISK FACTORS WHICH SHOULD BE CONSIDERED BY PROSPECTIVE INVESTORS, SEE “RISK FACTORS” COMMENCING ON PAGE 14.

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RISK FACTORS All investments carry some degree of risk. The role of the Investment Manager in a unit trust fund is to choose assets which mitigate risk as much as possible while working to achieve the objective(s) of the fund. However, it is not always possible to protect against all types of risk that can occur. For example, political changes and natural disasters can have a rapid effect on the outlook for economies and currencies which may affect investments in a unit trust fund. Therefore, before making an investment decision, an investor should consider the different types of risk that may affect the unit trust fund or the investor individually. GENERAL RISKS OF INVESTING IN THE FUNDS Market Risk This is the risk of prices of assets falling in response to general market factors as opposed to company-specific factors, which may affect the Fund’s underlying investments and hence the NAV of the Fund. Factors influencing the performance of markets include: (a) Economic factors such as changes in interest rates, inflation and foreign exchange rates; (b) Socio-political environment; (c) Regulatory factors; and (d) Broad investor sentiment. Inflation Risk This is the risk that investors’ investment in the Fund may not grow or generate income at a rate that keeps pace with inflation. This would reduce investors’ purchasing power even though the value of the investment in monetary terms has increased. Non-Compliance Risk This is the risk of the Manager, the Investment Manager or the Trustee not complying with their respective internal policies, the deed and its supplemental deed, securities law or guidelines issued by the regulators relevant to each party, which may adversely affect the performance of the Fund when the Manager or the Trustee takes action to rectify the non-compliance. For example, non-compliance could occur due to factors such as human error or shortfalls in operational and administrative processes, or external factors such as market movements. This risk may be mitigated by having sufficient internal controls in place to ensure compliance with all applicable requirements at all times. Investment Manager Risk (except for Namaa’ Asia-Pacific Equity Growth) This is the risk of the Investment Manager making poor investment decisions which may adversely affect the performance of the Fund. Poor investment decisions could be due to incorrect view of markets or because of the chosen investment style. Country Risk Investments of the Fund in any countries may be affected by changes in the economic and political climate, restriction on currency repatriation or other developments in the law or regulations of the countries in which the Fund invests in. For example, the deteriorating economic condition of the countries may adversely affect the value of the investments undertaken by the Fund in those affected countries. This in turn may cause the net asset value or prices of units to fall.

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Financing Risk This risk occurs when an investor obtains financing to finance the investor’s purchase of units of the Fund. The inherent risk of investing with borrowed money includes the investor’s inability to service the loan repayments and the adverse impact of an increase in interest rates on the loan repayments, where the investor may be subject to higher loan repayment installments. In the event units are used as collateral, an investor may be required to provide cash or units as additional collateral if unit prices fall beyond a certain level due to market conditions, failing which, the investor’s units may be sold towards settling the loan. Note: The Manager does not provide financing for the purchase of units of the Fund. However, if an investor obtains financing from other providers, this is the risk that the investor should be aware of. SPECIFIC RISKS UNIQUELY ASSOCIATED WITH THE INVESTMENT PORTFOLIO OF AM-NAMAA’ ASIA-PACIFIC EQUITY GROWTH AND AM-MATEEN ASIA-PACIFIC EQUITY Company Specific Risk This is the risk of prices of securities falling due to circumstances affecting individual companies. If company-specific factors deteriorate, the prices of the respective securities held by the Fund may possibly decline over short or extended periods despite positive market conditions. As a consequence, the NAV of the Fund may be adversely affected. This risk may be mitigated via careful selection of securities as well as through portfolio diversification. Currency Risk As the Fund may invest in foreign currency denominated securities (i.e. foreign investments), the Fund would be exposed to currency risk. This is the risk associated with investments that are denominated in currencies that are different from the base currency of the Fund. When the currency of foreign investments depreciates against the base currency of the Fund, the NAV of the Fund will be adversely affected when the foreign investments are expressed in the base currency of the Fund. The Investment Manager may at its discretion hedge the currency of its foreign investments against the base currency of the Fund to mitigate currency risk for the benefit of the Fund. Shariah Non-Compliance Risk This is the risk of the Fund not conforming to Shariah Investment Guidelines. The appointed Shariah Adviser for the Fund would be responsible for ensuring that the Fund is managed and administered in accordance with Shariah Investment Guidelines. Note that as the Fund can only invest in Shariah compliant instruments, non-compliance may adversely affect the NAV of Fund when the rectification of non-compliance results in losses. When an investment of the Fund is reclassified from Shariah compliant to Shariah non-compliant, any losses due to rectification of non-compliance (i.e. disposal of the Shariah non-compliant investment) will be assumed by the Fund. If the non-compliance is due to active breach by the fund manager (i.e. buying a Shariah non-compliant investment), then any capital gain received arising from the disposal of the Shariah non-compliant investment shall be channeled to charity; however, if there is a loss arising from the disposal, the fund manager shall bear the loss. Liquidity Risk Liquidity is defined as the ease with which securities can be bought or sold. This depends on the availability of buyers and sellers as well as the trading volume of securities in the market. The Fund holding investments that are illiquid or difficult to dispose of would be exposed to liquidity risk, which in this context refers to the inability of the Fund to take advantage of potentially better pricing that

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would be available if there were more buyers and the securities are more actively traded in the market. Liquidity risk may be mitigated by investing in a mix of securities with reasonable* trading volumes and avoiding securities with poor liquidity. * The Investment Manager determines what is deemed to be reasonable trading volume for the Fund. SPECIFIC RISKS UNIQUELY ASSOCIATED WITH NAMAA’ ASIA-PACIFIC EQUITY GROWTH Risk of a Passive Strategy As the Fund adopts a passive strategy of investing a minimum of 95% of its NAV into the Target Fund at all times, this strategy would result in the Fund being exposed to the risk of its NAV declining when the Target Fund's net asset value declines. This is because the Fund is closely mirroring the performance of the Target Fund and will not be adopting any temporary defensive strategies in response to such declines. All investment decisions are left with the fund manager of the Target Fund. Risk of not meeting the Fund’s Investment Objective This is the risk that the Fund may deviate from the intended investment objective, the Investment Manager may liquidate the investments in the Target Fund and hold 100% of the Fund’s NAV in cash, in order to protect the Unit Holders’ interest, under circumstances including but not limited to the following: (a) there is an adverse change to the regulatory and political regime in which the Target Fund

operates; (b) there is a material change to the investment objective of the Target Fund; and (c) there is an unfavorable change to the feature of the Target Fund (e.g. fees, distribution

policy). Subsequently, the Investment Manager, in consultation with the Trustee and Investment Committee of Fund will call for a Unit Holder’s meeting to decide on whether to terminate the Fund or replace the Target Fund with a new target fund. Note: A replacement of the Target Fund or termination of the Fund would require Unit holders’ approval. Currency Risk As the Fund invests in foreign investments (i.e. the Target Fund which is denominated in foreign currency), the Fund would be exposed to currency risk. This is the risk associated with investments that are denominated in currencies that are different from the base currency of the Fund. When the currency of foreign investments depreciates against the base currency of the Fund, the NAV of the Fund will be adversely affected when the foreign investments are expressed in the base currency of the Fund. This is in addition to any gains or losses derived from the Fund's investment in the Target Fund. It should be noted that the Fund’s investments in the Target Fund may also be exposed to currency gains or losses resulting from fluctuations in foreign exchange rates between the base currency of the Target Fund and the other currencies which the Target Fund may be exposed to. For further explanation of currency risk at the Target Fund level, please refer to Currency Risk faced by the Target Fund.

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Shariah Non-Compliance Risk This is the risk of the Fund not conforming to Shariah Investment Guidelines. The appointed Shariah Adviser for the Fund would be responsible for ensuring that the Fund is managed and administered in accordance with Shariah Investment Guidelines. Note that as the Fund can only invest in Shariah compliant instruments, non-compliance may adversely affect the NAV of Fund when the rectification of non-compliance results in losses. When an investment of the Fund is reclassified from Shariah compliant to Shariah non-compliant, any losses due to rectification of non-compliance (i.e. disposal of the Shariah non-compliant investment) will be assumed by the Fund. If the non-compliance is due to active breach by the fund manager (i.e. buying a Shariah non-compliant investment), then any capital gain received arising from the disposal of the Shariah non-compliant investment shall be channeled to charity; however, if there is a loss arising from the disposal, the fund manager shall bear the loss. Liquidity Risk The Fund will be investing a minimum of 95% of its assets in the Target Fund. There may be exceptional circumstances, which could cause delays in the redemption of shares of the Target Fund and units of the Fund. The exceptional circumstances are as follows: (a) during any period when any market or stock exchange on which a material part of the Target

Fund’s investments are quoted is closed, or during which dealings are substantially suspended or restricted;

(b) during the existence of any state of affairs which constitutes an emergency as a result of which disposal of investments of the Target Fund is not possible;

(c) during any breakdown in the means of communication normally employed in determining the price of the Target Fund’s investments on any market or stock exchange;

(d) when for any other reason the prices of any investments owned by the Target Fund cannot promptly or accurately be ascertained;

(e) during any period when remittance of monies which will or may be involved in the realisation of or in the payment for any of the Target Fund’s investments cannot, in the opinion of the Manager, be carried out at normal rates of exchange;

(f) in the event of the publication of a notice convening an Unit Holders’ meeting; and (g) the existence of specific statutory provisions such as foreign exchange restrictions, or any

circumstances beyond the Target Fund manager’s control which will make it impossible to transfer the redemption proceeds as requested by the Fund.

In any of the above circumstances, the determination of the Fund's NAV may be suspended and redemption requests may be deferred, until after the exceptional circumstances have passed and normal conditions have resumed. Unit Holders who have requested switching or redemption of their units will be notified in writing of any such suspension and will be promptly notified upon termination of such suspension. Any such suspension will be published in the newspapers in which the Fund’s unit prices are generally published if in the opinion of the Manager the suspension is likely to exceed one (1) week. Specific risks associated to the Target Fund:- Please refer to the “‘SPECIFIC RISKS UNIQUELY ASSOCIATED WITH THE INVESTMENT PORTFOLIO OF AM-NAMAA’ ASIA-PACIFIC EQUITY GROWTH” on page 15 for further details. Note: The abovementioned risks which investors should consider before investing into the Fund should not be considered to be an exhaustive list. Investors should be aware that investments in the Fund may be exposed to other risks of an exceptional nature from time to time.

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THE FUND’S DETAILED INFORMATION


Category of fund

Equity (Shariah Compliant)

Type of fund Growth


The Fund seeks to grow the value of investment in the Longer term by investing in listed equities and equities related investments and other Islamic instruments that conform to the Shariah Investment Guidelines across Asia Pacific (ex-Japan) region. Note: Any material changes to the investment objective of the Fund would require Unit Holders’ approval.

Investment Strategy

To invest predominantly in Shariah-compliant equities and equity securities and other Shariah-compliant approved investments and instruments. The Investment Manager of the Fund seeks to attain superior investment returns within the constraints of the relevant risk parameters. The style is active and focuses on strategic structuring of the portfolio. The investment philosophy is to select a core portfolio of growth and/or dividend stocks at a reasonable price with a three (3) years horizon coupled with a value approach to identify undervalued companies due to economic cycles which have been ignored relative to historical patterns. The Investment Manager of the Fund is dedicated to thorough research on all fundamental aspects to investments. This involves close monitoring of the macro-economic environment as well as in-depth research on individual counters bottom up research such as valuation driven stock selection; strong focus on company cash flow generation; country/sector focus is a significant driver of stock selection in the portfolio. In addition, there is a strong emphasis on a quantitative approach to investment decisions and stock selection. The Investment Manager may adopt active and frequent trading of securities for the Fund. However, the Investment Manager of the Fund may adopt temporary defensive strategy by maintaining 100% of the Fund’s NAV in liquid asset/cash weightings that may be inconsistent with the Fund’s principal investment and asset allocation strategy. This defensive strategy may be necessary to protect the Fund’s investment in response to adverse market, economic, political, or any other conditions. However, adopting temporary defensive strategy may cause the Fund’s investment to incur losses or fail to gain from the uptrend movement when the market rebound occurs. This will be done in consultation with the trustee and with the consent of the investment committee.

Asset Allocation

Up to 100% of its NAV will be invested in equities and equity related investments that conform to the Shariah Investment Guidelines.


Dow Jones Islamic Market Index Asia-Pacific (ex-Japan) (obtainable: www.aminvest.com)


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Note: The risk profile of the Fund is not the same as the risk profile of the performance benchmark.

Managing Risk

The risk management team applies rigorous risk management controls over portfolio, legal and operational activities; including asset allocation, liquidity, adherence to investment objectives and investment parameters, valuation, monitoring performance etc. The risk management team is responsible for monitoring and controlling risks and reports directly to the board of directors.


Category of fund

Feeder Fund (Shariah Compliant Equity)

Type of fund Growth


The Fund seeks to grow the value of investment in the Longer term by investing in listed equities and equities related investments and other Islamic instruments that conforms to the Shariah Investment Guidelines across Asia Pacific (ex-Japan) region.

Note: Any material changes to the investment objective of the Fund would require Unit Holders’ approval.

Investment Strategy

A minimum of 95% of the Fund’s NAV will be invested in Am-Namaa’ Asia-Pacific Equity Growth.

Asset Allocation

A minimum of 95% of the Fund’s NAV will be invested in Am-Namaa’ Asia-Pacific Equity Growth while maintaining a maximum of 5% of the Fund’s NAV in liquid assets. The Fund is denominated in RM.



Managing Risk

The Fund will invest a minimum 95% of the NAV into the Target Fund. This is to enable the Feeder Fund to mirror as closely the Target’s Fund’s NAV. Risk management of the Fund is done primarily at the level of the Target Fund, which is also managed by the Manager. The Manager may choose to replace the Target Fund with another funds of similar objective if in our view, the Target Fund no longer meets the Fund’s investment objective or when acting in the interest of the Unit Holders. Any replacement of the Target Fund shall be in consultation with the Shariah Adviser, Trustee and Investment Committee and require Unit Holders approval at a duly convened Unit Holders meeting.


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Category of fund Equity (Shariah Compliant)

Type of fund Growth


The Fund is a Shariah Compliant equity fund that seeks to grow the value of investments over the medium to long term (i.e between three to five years) by investing in listed equities, equity related investments and other approved instruments across Asia Pacific (ex-Japan) that conforms to the Shariah Investment Guidelines. Note: Any material changes to the investment objective of the Fund would require Unit Holders’ approval.

Investment Strategy

The Investment Manager seeks to attain steady investment returns within the constraints of the relevant risk parameters which relates to general investment risks (e.g. market risk, price volatility risk) that the Investment Manager is exposed to when investing. The investment style is active and focuses on strategic structuring of the portfolio. The Investment Manager’s investment strategy is to select a core portfolio of low volatility and high dividend stocks with a three (3) year time horizon coupled with a value approach to identify undervalued companies due to economic cycles which have been ignored relative to historical patterns. The Investment Manager is dedicated to thoroughly research all fundamental aspects to investments. This involves close monitoring of the macro-economic environment as well as in-depth research of individual counters; bottom up research such as valuation driven stock selection; strong focus on company cash flow generation; country/sector focus stock selection. In addition, there is a strong emphasis on a quantitative approach to investment decisions and stock selection. The Investment Manager may adopt active and frequent trading of securities for the Fund. However, the Investment Manager may adopt temporary defensive strategy by maintaining 100% of the Fund’s NAV in liquid assets/cash weightings that may be inconsistent with the Fund’s principal investment and asset allocation strategy. This defensive strategy may be necessary to protect the Fund’s investment in response to economic, political, or any other adverse market conditions. However, adopting temporary defensive strategy may cause the Fund’s investment to incur losses or fail to gain from the uptrend movement when the market rebound occurs. The countries in which the Fund invests in includes but are not limited to Malaysia, Hong Kong (including H Shares which refer to companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange), Korea, Philippines, Singapore, Taiwan, Thailand, Australia and Indonesia.

Asset Allocation

The Fund intends to invest :- (a) Between 70% and 95% of the Fund’s NAV in equity and equity related

instruments. (b) Between 5% and 30% of Fund’s NAV in liquid assets.

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In making the above investment, the Fund will be guided by the Shariah Investment Guidelines mentioned on pages 24 to 27.



Managing Risk

The risk management team applies rigorous risk management controls over portfolio, legal and operational activities; including asset allocation, liquidity, adherence to investment objectives and investment parameters, valuation, monitoring performance etc. The risk management team is responsible for monitoring and controlling risks and reports directly to the board of directors.

PERMITTED INVESTMENT, INVESTMENT RESTRICTIONS AND SHARIAH INVESTMENT GUIDELINES Permitted Investment A) Am-Namaa’ Asia-Pacific Equity Growth

As permitted under the Deed, the requirements of the SC and other regulatory body, the Fund may invest in any of the following investment instruments that comply with Shariah;

i. equities; ii. cash; iii. general investment accounts and money market instruments; iv. sukuk; v. commodities Murabahah/special investment accounts on any of the above; vi. collective investment schemes; and vii. treasury products.

The Manager may at its own discretion invest into foreign markets as permitted by other regulatory body, the relevant laws and SC.

B) Namaa’ Asia-Pacific Equity Growth

As permitted under the Deed and the requirements of the SC, the Fund may invest in any of the following investment instruments that comply with Shariah:

i. the Target Fund or a collective investment scheme having a similar objective; and ii. liquid assets.

C) Am-Mateen Asia-Pacific Equity

The Fund may invest in the any of the following investment instruments that comply with Shariah: i. equities; ii. deposits with approved financial institutions that are repayable on demand or have the

right to be withdrawn, and mature within twelve months or less; iii. ancillary liquid assets;


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iv. collective investment scheme; and v. other approved investment instruments approved by the Shariah Adviser and allowed

under the SC Guidelines. A) Am-Namaa’ Asia-Pacific Equity Growth 1. Investment Restrictions

1.1 The Fund may invest no more than 10% of net assets in a single equity. 1.2 The Fund may invest no more than 10% of net assets in equities issued by any single

issuer. Furthermore, when these equities individually exceed 5% of net assets value of the Fund, the total value of all such investment must not exceed 40% of the net assets.

1.3 The Fund may invest in deposits provided they will mature in no more than 12 months

with an approved institution. 1.4 The Fund may not invest in precious metals or precious metals certificates. 1.5 Notwithstanding paragraphs 1.2 and 1.3 above, a combination of two or more of the

following issued by, or made or undertaken with, the same issuer may not exceed 20% of net assets: investments in equities; deposits.

1.6 Group of companies are regarded as a single issuer for the purpose of paragraphs 1.2,

1.4 and 1.5. However, a limit of 20% of net assets may be applied to investment in equities within the same group.

2. Investment in Collective Investment Schemes (“CIS”)

2.1 The Fund may not invest more than 20% of net assets in any one CIS. 3. General Provisions

3.1 An investment company, or management company acting in connection with all of the CIS it manages, may not acquire any shares carrying voting rights which would enable it to exercise significant influence over the management of an issuing body.

3.2 The Fund may acquire no more than:

(i) 10% of the non-voting shares of any single issuing body; (ii) 25% of the units of any single CIS

Note: The limit laid down in 3.2 (ii) above may be disregarded at the time of acquisition if at that time the net amount of the securities in issue cannot be calculated.

3.3 Paragraphs 3.1 and 3.2 shall not be applicable to shares held by an investment

company or investment companies in the capital of subsidiary companies carrying on only the business of management, advice or marketing in the country where the subsidiary is located, in regard to the repurchase of units at unit holders’ request exclusively on their behalf.

3.4 The Fund need not comply with the investment restrictions herein when exercising

subscription rights attaching to transferable securities which form part of their assets.

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3.5 If the limits laid down herein are exceeded for reasons beyond the control of the Fund,

or as a result of the exercise of subscription rights, the Fund must adopt as a priority objective for its sales transactions the remedying of that situation, taking due account of the interests of its Unit Holders.

3.6 Neither an investment company, nor a management company or a trustee acting on

behalf of a unit trust or a management company of a common contractual fund, may carry out uncovered sales of: transferable securities; units of CIS; or financial derivative instruments.

3.7 When the Fund invests in the units of other CIS that are managed, directly or by

delegation, by the management company or by any other company with which the management company is linked by common management or control, or by a substantial direct or indirect holding, that management company may not charge subscription, conversion or redemption fees on account of the Fund investment in the units of such other CIS.

3.8 Where a commission (including a rebated commission) is received by the

Manager/Investment Manager by virtue of an investment in the units of another CIS, this commission must be paid into the property of the Fund.

B) Namaa’ Asia-Pacific Equity Growth 1. Investment Restrictions

1.1 The Fund must be invested in one (1) collective investment scheme.

C) Am-Mateen Asia-Pacific Equity 1. Investment Restrictions

1.1 The Fund may invest no more than 10% of net asset value in a single equity as referred under “Permitted Investment”.

1.2 The Fund may invest no more than 10% of net asset value in equities issued by any

single issuer. In addition, when these equities individually exceed 5% of net asset value of the Fund, exposure to the total value of all such investment must not exceed 40% of the net asset value of the Fund.

1.3 The Fund may invest in deposits with approved institutions provided their maturity is not

more than 12 months.

1.4 No investment is allowed in precious metals or precious metals certificates. 1.5 Notwithstanding paragraphs 1.2 and 1.3 above, a combination of two or more of the

following issued by, or made or undertaken with, the same issuer may not exceed 20% of net asset value of the Fund’s investments in equities; or deposits.

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1.6 Group of companies are regarded as a single issuer for the purpose of paragraphs 1.2 and 1.5. However, a limit of 20% of net asset value may be applied to investment in equities within the same group.

1.7 The Fund may not invest more than 20% of its net asset value in any one Collective Investment Schemes (CIS).

2. General Investment Provision

2.1 The Manager and/or Investment Manager acting in connection with all of the CIS it manages, may not acquire any shares carrying voting rights which would enable it to exercise significant influence over the management of an issuing body.

2.2 The Fund may acquire no more than:

(a) 10% of the non-voting shares of any single issuing body; (b) 25% of the units of any single CIS Note: The limit mentioned in 2.2(b) above may be disregarded at the time of acquisition if at that time the net amount of the securities in issue cannot be calculated.

2.3 Paragraphs 2.1 and 2.2 above shall not be applicable to shares held by the Manager

and/or Investment Manager in the capital of subsidiary companies carrying on only the business of management, advice or marketing in the country where the subsidiary is located, in regard to the repurchase of units at unit holders’ request exclusively on their behalf.

2.4 The Fund need not comply with the investment restrictions herein when exercising

subscription rights attaching to transferable securities which form part of their assets. 2.5 If the limits mentioned herein are exceeded for reasons beyond the control of the Fund,

or as a result of the exercise of subscription rights, the Fund must adopt as a priority objective for its sales transactions the remedying of that situation, taking due account of the interests of its Unit Holders.

2.6 Neither the Manager and/or Investment Manager or a trustee acting on behalf of a unit

trust or the Manager and/or Investment Manager of a fund, may carry out uncovered sales of: transferable securities; units of CIS; or financial derivative instruments.

2.7 When the Fund invests in the units of other CIS that are managed, directly or by

delegation, by the Manager or by any other company with which the Manager is linked by common management or control, or by a substantial direct or indirect holding, that Manager may not charge subscription, conversion or redemption fees on account of the Fund investment in the units of such other CIS.

2.8 Where a commission (including a rebated commission) is received by the Manager and

Investment Manager by virtue of an investment in the units of another CIS, this commission must be paid into the property of the Fund.

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SHARIAH INVESTMENT GUIDELINES Am-Namaa’ Asia-Pacific Equity Growth, Am-Mateen Asia-Pacific Equity and Namaa’ Asia-Pacific Equity Growth The Shariah Adviser is responsible for conducting an independent analysis on the Fund holdings and investment income to ensure that it is compliant with the Shariah Investment Guidelines as follows:- 1. Investment in shares:

a. The investment of the Fund in shares must only be done in companies complying with these guidelines:

(i) The objectives and activities of the company as stated by the memorandum of

articles of the companies or as published officially are permissible by Shariah. It is not permissible to invest or trade in shares of companies that objectives as well as activities are not permissible (muharramah) e.g. companies producing liquor (khamr), tobacco or pork, gambling companies, Riba-based banks, companies involved in insolence (mujun) or pornography and funds investing in Riba-based bonds.

(ii) If the objectives and activities of the company are permissible by Shariah but it is

involved in some non-permissible investment either in other companies or securities etc, then such investment must not exceed 20% of its 12 months trailing total market capitalisation of the company as long as it is not less than the total asset of the company. The market capitalization of the company is taken from the shortest period possible/practicable.

(iii) The company should finance its activities and investment through Shariah Compliant

financing methods, however if a company finances its activities and investment through Shariah non-compliant financing methods such as from Riba-based financing or by issuing Riba-based bonds, then such financing should not exceed 30% of its 12 months trailing total market capitalisation of the company as long as it is not less than the total asset of the company. This is said with the knowledge that Riba is haram no matter what the amount is.

(iv) Income arising out of haram sources must not exceed 5% of total income of the

company, regardless whether the income arises from Riba-based investment, haram activities, ownership of something haram etc. If there is income that cannot be determined of its status, such income is to be regarded as haram.

(v) The account receivables of the company must not exceed 45% of the 12 months

trailing total market capitalisation.

(vi) The cash and interest-bearing securities of the company must not exceed 30% of the 12 months trailing total market capitalisation.

b. Permission to trade and invest in such shares is given based on necessity (hajat), when

and if there are enough companies that do not engage in such activity and the necessity (hajat) of the society or nation (ummah) can be fulfilled, investment in these shares must cease and investment should only be made in companies that are not involved in such haram activity. Permission to trade and invest in such shares is also given based on maslahah (public interest) and umum balwa (common plight),

26

c. The activities and financial information of the companies referred to in determining its status must be of the latest financial report (annual) audited or unaudited.

d. Permission to trade and invest in shares is given in respect to ordinary shares only, other

types of shares and instruments such as preference shares, loan stocks or warrants are prohibited, unless and otherwise such other type of share and instrument is approved by the Shariah Adviser.

e. The list of shares after being filtered based on the criteria mentioned must be later

approved and endorsed by the Shariah Adviser. f. All shares held by the Fund must be reviewed annually using the same filter to determine

the Shariah Compliant status of the share. Notwithstanding that, if any share falls out of the criteria at any time, the shares must be disposed of.

g. If the status of the company changes (in which it does not meet the criteria anymore), the

shares must be disposed of as soon as possible. In this regard, if on the date the status is known, the value of the shares held exceeds the original investment cost (which may include brokerage cost or other related transaction cost); such Shariah non-compliant shares must be liquidated. Any capital gain arising from the disposal of the Shariah non-compliant shares made at the day of the announcement can be kept by the Fund.

However, any excess capital gain derived from the disposal after the announcement day or the day the change of status is known at a market price that is higher than the closing price on the announcement day or the day the change of status is known should be channelled to charitable purposes. However, the Fund is allowed to hold its investment in the Shariah non-compliant shares if the market price of the said shares is below the original investment cost. It is also permissible for the Fund to keep the dividends received during the holding period until such time when the total amount of dividends received and the market value of the Shariah non-compliant shares held equal the original investment cost. At this stage, the Fund must dispose of its holding of the shares.

h. Purification of any haram element in the shares must be done based on this guidelines :

(i) Purification is done over two things:

a. Benefit of Riba-based loan (in cases where the companies obtain Riba-based loans).

b. Haram income, regardless of the sources.

The process of purification is done as follows:

a. In the case of companies which are involved in Riba-based loans, purification of the benefit arising out of money obtained through Riba-based loans are done as follows:

i. Total amount of Riba-based loans of the company is divided over the company’s assets;

ii. The result is then multiplied over total net dividend receiving by the Fund;

iii. The result would be total net dividend received by the Fund arising out of Riba-based loans;

iv. The amount would then be divided into two and one part of it is to be purified. The dividend arises out of capital and labour and the portion

27

arising out of the capital must be channelled because the capital was obtained from non- Shariah Compliant source while the portion arising out of the labour is allowed to be kept because the business activities are permissible. Purification of benefit from Riba-based loan shall not be carried out when the companies are not paying any dividend. For short-term Riba-based loans, purification shall be carried out in accordance with the tenure of the loan over the financial period.

b. In case of non-permissible or haram income, purification must be carried out

on the income totally regardless of the source of income or whether the company has gained profit or otherwise and whether dividend has been distributed or otherwise. In case where actual amount of the non-permissible or haram income could not be obtained, such amount shall be estimated accordingly. Purification in this scenario shall be carried out by dividing the total haram income over total shares of the company and multiplied by the average number of shares owned by the Fund during the period. The purification amount would then be pro-rated according to the period of holding.

(ii) The Fund will adopt the method of purification which has been approved by the

Shariah Adviser.

a. The purification exercise is done by channelling the purification amount to charitable purposes as advised by the Shariah Adviser and this exercise will be performed when relevant information has been obtained.

b. It is not permissible to benefit from haram element in whatever ways i.e.

zakat or sadaqah cannot be given from it; taxes should not be paid out of it, or to use it for marketing or any other purposes.

c. It is an obligation of the Investment Manager to perform the purification of

the Fund. d. The calculation of the purification amount must further be endorsed by the

Shariah Adviser for verification before the purification is done.

2. Investments in Sukuk or other instruments must only be done in Sukuk or instruments approved by the Shariah Adviser.

3. For the purpose of operating the Fund, any accounts opened for the Fund must only be opened

at Al Rajhi Bank or at any other banks as advised by the Shariah Adviser. 4. For the purpose of operating the Fund, any agreement entered into by the Manager with any

other parties must be approved by the Shariah Adviser. 5. The Manager must provide the Shariah Adviser with monthly report on the holding of the Fund

and transactions entered into for the Fund during the month. 6. The investment and operations of the Fund and any interpretation and enforcement of any

agreement and law relating to the Fund must always be in accordance with Shariah principles.

7. The investment portfolio of the Fund comprises securities which had been classified as Shariah Compliant by the Shariah Advisory Council (SAC) of the SC. For securities not certified by the

28

SAC of the SC, the securities had been determined in accordance with the ruling by the Shariah Adviser.

Applicable to Namaa’ Asia-Pacific Equity Growth: 1. The Fund will only invest in a Shariah Compliant Target Fund i.e. Am-Namaa’ Asia-Pacific

Equity Growth.

2. For the purpose of operating the Fund, any accounts opened for the Fund must only be opened at Al Rajhi Bank or at any other banks as advised by the Shariah Adviser.

3. For the purpose of operating the Fund, any agreement entered into by the Manager with any other parties must be approved by the Shariah Adviser.

4. The Manager must provide the Shariah Adviser with monthly report on the holding of the Fund and transactions entered into for the Fund during the month.

5. The investment and operations of the Fund and any interpretation and enforcement of any agreement and law relating to the Fund must always be in accordance with Shariah principles.

VALUATION OF ASSETS Valuation of the Funds will be carried out by the Manager in a fair manner in accordance with applicable law and guidelines. The valuation bases for the authorised investments of the Funds are as below: i. Listed Shariah Compliant Equities

The value of any authorised investments, which are quoted on an approved exchange, shall be calculated by reference to the last transacted price on that approved exchange. If there is no such transacted price, the value shall be determined by reference to the mean of bid and offer prices at the close of trading. Suspended Shariah Compliant securities will be valued at their last done price unless there is conclusive evidence to show that the value has gone below the suspended price or where the quotation of the securities has been suspended for a period exceeding fourteen (14) days, whereupon their fair value will be determined in good faith by the Manager based on the methods or bases approved by the Trustee after appropriate technical consultation.

ii. Listed Sukuk

The last traded prices quoted on an exchange will be used. iii. Unlisted Sukuk (as part of liquid assets)

Investments in RM-denominated Sukuk or other fixed income instruments will be valued based on last market price/bid quoted by the Bond Pricing Agency (BPA) registered with the SC or, where prices are not available from BPA, the average indicative yield quoted by financial institutions.Where the management company is of the view that the price quoted by BPA for a specific bond differs from “market price” by more than 20 basis points, the management company or its fund management delegate may use the “market price”, provided that the management company or its fund management delegate:- (a) records its basis for using a non-BPA price;

29

(b) obtains necessary internal approvals to use the non-BPA price; and (c) keeps an audit trail of all decisions and basis for adopting the “market yield”.

iv. Unlisted Foreign Sukuk

For foreign currency denominated Sukuk, valuation is based on fair value by reference to the average indicative yield/prices quoted by three (3) independent and reputable institutions.

v. Shariah Compliant collective investment schemes

The value of any investment in a Shariah Compliant collective investment scheme which are quoted on an approved exchange shall be based on the last done market price of the respective exchange. When investing in unlisted Shariah Compliant collective investment schemes, the value shall be determined by reference to the last published repurchase/redemption price for that Shariah Compliant collective investment scheme.

vi. Liquid assets

The value of any investment in non-tradable liquid assets, such as money market instruments and deposits placed with financial institutions shall be determined by each Business Day, with reference to the principal value of such investments and the accrued income for the relevant period. For tradable liquid assets of tradable deposits and money market instruments (such as negotiable certificates of deposits and promissory notes), the valuation is based on marked to market prices based on average of three (3) quotations by financial institutions daily.

Where the Manager is of the opinion that the valuation principles do not properly reflect the realisable value of the investment, the Manager shall value the investment in accordance with another principle, verified by the appointed auditor of the Fund and approved by the Trustee, provided that the Manager:

(a) records its basis for using a non-standard valuation principle: (b) obtains necessary internal approvals to use the non-standard valuation principle; and (c) keeps an audit trail of all decisions and basis for adopting the non-standard valuation

principle.

30

THE INFORMATION ON THE TARGET FUND – Am-NAMAA’ ASIA-PACIFIC EQUITY GROWTH THE MANAGEMENT OF THE TARGET FUND The Manager of the Target Fund is AmInvestment Services Berhad while the Investment Manager of the Target Fund is AmIslamic Funds Management Sdn Bhd. The regulatory authority which regulates the Target Fund is the Securities Commission of Malaysia. The applicable legislation which applies to the Target Fund is the Capital Markets and Services Act 2007, the Securities Commission Guidelines and other relevant laws. For further details on the Manager and Investment Manager of the Target Fund, please refer to pages 63 to 68.

INVESTMENT OBJECTIVE The Target Fund seeks to grow the value of investment in the Longer term by investing in listed equities and equities related investments and other Islamic instruments that conforms to the Shariah Investment Guidelines across Asia Pacific (ex-Japan) Region.

INVESTMENT POLICY AND STRATEGY To invest predominantly in Shariah-compliant equities and equity securities and other Shariah-compliant investments and instruments. The Investment Manager of the Target Fund seeks to attain superior investment returns within the constraints of the relevant risk parameters. The style is active and focuses on strategic structuring of the portfolio. The investment philosophy is to select a core portfolio of growth and/or dividend stocks at a reasonable price with a three (3) years horizon coupled with a value approach to identify undervalued companies due to economic cycles which have been ignored relative to historical patterns. The Investment Manager of the Target Fund is dedicated to thorough research on all fundamental aspects to investments. This involves close monitoring of the macro-economic environment as well as in-depth research on individual counters, bottom up research such as valuation driven stock selection; strong focus on company cash flow generation; country/sector focus is a significant driver of stock selection in the portfolio. In addition, there is a strong emphasis on a quantitative approach to investment decisions and stock selection. However, the Investment Manager of the Target Fund may adopt temporary defensive strategy by maintaining 100% of the Target Fund’s NAV in liquid asset/cash weightings that may be inconsistent with the Target Fund’s principal investment and asset allocation strategy. This defensive strategy may be necessary to protect the Target Fund’s investment in response to adverse market, economic, political, or any other conditions. However, adopting temporary defensive strategy may cause the Target Fund’s investment to incur losses or fail to gain from the uptrend movement when the market rebound occurs. This will be done in consultation with the trustee and with the consent of the investment committee.

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RISK MANAGEMENT

The Target Fund’s manager risk management team applies rigorous risk management controls over portfolio, legal and operational activities, including asset allocation, liquidity, adherence to investment objectives and investment parameters, valuation, monitoring of performance etc. The risk management team is responsible for monitoring and controlling risks and reports directly to the board of directors. Please refer to the specific risks associated with the Target Fund commencing on page 15. INVESTMENT UNIVERSE For the life of this Prospectus, the Target Fund Manager intends to invest in Malaysia and in the following foreign markets: Hong Kong (including H Shares), India, Korea, Philippines, Singapore, Taiwan, Thailand, Australia and Indonesia.

All investments and deposits are subject to the observation of the Shariah Investment Guidelines. For further details on the Investment Universe, please refer to pages 24-27. HISTORICAL PERFORMANCE OF THE TARGET FUND

As at 31 October 2014, in %

2014 2013 2012 2011 2010 2009*


(4.77) 0.07 3.30 (1.12) 22.66 27.16

The Benchmark** 3.02 6.67 (0.05) (5.90) 22.63 (5.72)

Source: All performance figures have been extracted from the annual report of the Target Fund. * Total actual returns for the financial period from 11 August 2008 (date of commencement) to

31October 2009 ** Benchmark – Dow Jones Islamic Market Index (DJIM) Asia - Pacific (ex-Japan)-USD

(Obtainable via www.aminvest.com) Past performance of the Fund is no indication of its future performance.

FEES CHARGED BY THE TARGET FUND

(a) Management fee of the Target Fund Currently the Target Fund charges a fee of 1.80% p.a. of the NAV of the Target Fund as a management fee. There will be no double charging of management fee.

(b) Trustee fee and the Shariah Adviser fee of the Target Fund

In addition to the management fee, there will be trustee fee incurred at the Target Fund of up to 0.08% p.a. of the NAV of the Target Fund and Shariah Adviser fee of up to 0.04% p.a. of NAV of the Target Fund.


Investors are advised that they will be subjected to higher fees arising from the layered investment structure.


32

FUND PERFORMANCE INFORMATION AVERAGE TOTAL RETURN The following table reflects the average total returns of the Funds in the preceding financial years:


1-Year 3-Years 5-Years Since

Inception*

Am-Namaa’ Asia-Pacific Equity Growth (4.77) (0.52) 3.61 6.94

DJIM AP (ex-Japan) Index** 3.02 3.17 4.85 2.90

* Since inception of the Fund (11 August 2008) ** Benchmark – Dow Jones Islamic Market Index (DJIM) Asia - Pacific (ex-Japan)-USD (Obtainable via www.aminvest.com)


1-Year 3-Years 5-Years Since Inception*

Namaa’ Asia-Pacific Equity Growth (1.98) 0.23 0.51 3.59

DJIM AP (ex-Japan) Index** 7.91 5.75 4.23 3.01

* Since inception of the Fund (15 August 2008) ** Benchmark – Dow Jones Islamic Market Index (DJIM) Asia - Pacific (ex-Japan)-RM (Obtainable via www.aminvest.com)


1-Year 3-Years Since Inception*

Am-Mateen Asia-Pacific Equity 0.79 3.06 0.54

DJIM AP (ex-Japan) Index**

3.02 3.17 (1.88)

* Since inception of the Fund (5 May 2011) ** Benchmark – Dow Jones Islamic Market Index (DJIM) Asia - Pacific (ex-Japan)-USD (Obtainable via www.aminvest.com) Source: All performance figures have been extracted from the annual reports of the Funds. ANNUAL TOTAL RETURN The following table reflects the annual total returns of the Funds for each financial years:




33


2014 2013 2012 2011 2010 2009*


(4.77) 0.07 3.30 (1.12) 22.66 27.16

The Benchmark** 3.02 6.67 (0.05) (5.90) 22.63 (5.72)

* Total actual returns for the financial period from 11 August 2008 (date of commencement) to 31October 2009

** Benchmark – Dow Jones Islamic Market Index (DJIM) Asia - Pacific (ex-Japan)-USD (Obtainable via www.aminvest.com)

The Fund registered a negative return of 4.77% for the financial year ended 31 October 2014, which was entirely capital in nature. Comparatively, for the same year, the benchmark registered a return of 3.02%. The Fund underperformance was due to limited number of approved investable stocks.


2014 2013 2012 2011 2010 2009*


(1.98) 1.55 1.16 (5.63) 7.94 21.38

The Benchmark ** 7.91 10.60 (0.91) (7.05) 11.91 (2.27)

* Total actual returns for the financial period from 15 August 2008 (date of commencement) to 31 October 2009

** Benchmark – Dow Jones Islamic Market Index (DJIM) Asia - Pacific (ex-Japan)-RM (Obtainable via www.aminvest.com)

For the financial year under review, the Fund registered a negative return of 1.98% which was entirely capital in nature. Comparatively, for the same financial year, the benchmark registered a return of 7.91%. As such the Fund has underperformed the benchmark by 9.89%.


2014 2013 2012 2011*

Am-Mateen Asia-Pacific Equity 0.79 (1.37) 10.10 (6.90)

The Benchmark** 3.02 6.67 (0.05) (12.21)

* Total actual returns for the financial period from 5 May 2011 (date of commencement) to 31 October 2011

** Benchmark – Dow Jones Islamic Market Index (DJIM) Asia - Pacific (ex-Japan)-USD (Obtainable via www.aminvest.com)

The Fund registered a return of 0.79% for the financial year ended 31 October 2014, which was entirely capital in nature. Comparatively, for the same financial year, the benchmark registered a return of 3.02%. As such the Fund has underperformed the benchmark by 2.23%. Note: The performance is calculated based on net asset value per unit. Average total return of the Fund for a period is computed based on the absolute return for that period annualised over one year.




34

DISTRIBUTION

Financial Year Ended 31 October, in %

2014 2013 2012

Am-Namaa’ Asia-Pacific Equity Growth Given its investment objective, the Fund is not

expected to pay any distribution

Namaa’ Asia-Pacific Equity Growth No income distribution has been paid since inception

Am-Mateen Asia-Pacific Equity No income distribution has been paid since inception

PORTFOLIO TURNOVER RATIO (PTR) The Portfolio Turnover Ratio (PTR) of the Funds for three (3) most recent financial years are as follows:

Financial Year Ended 31 October

2014 2013 2012

Am-Namaa’ Asia-Pacific Equity Growth 0.15 0.16 0.49

Namaa’ Asia-Pacific Equity GrowthNote1 0.17 0.55 0.25

Am-Mateen Asia-Pacific Equity 0.59 0.63 0.75

Note 1: For Namaa’ Asia-Pacific Equity Growth, the PTR decreased by 0.38 times (69.1%) as compared to 0.55 times for the financial year ended 31 October 2013 mainly due to decrease in investing activities. SECTORAL COMPOSITION The following tables describe the asset allocation of the Funds for three (3) most recent financial years:


2014 2013 2012


Equities 83.3 83.8 85.1

Cash and others 16.7 16.2 14.9

Total 100.0 100.0 100.0


CIS 96.5 96.4 96.8


Total 100.0 100.0 100.0

Am-Mateen Asia-Pacific Equity*

35


2014 2013 2012

Equities 90.4 81.2 78.3


Total 100.0 100.0 100.0

* For financial year ended 31 October 2014, the percentage holdings in equities for Am-Mateen Asia-Pacific Equity increased to 90.4% from 81.2% in 2013 and cash and others decreased to 9.6% from 18.8%. The Fund gradually switches from defensive to cyclical stocks to tap on the global growth momentum and liquidity.

Note: The above percentages are based on total investment market value plus cash. Past performance of the Fund is not an indication of its future performance. HISTORICAL FINANCIAL STATEMENTS OF THE FUNDS

Am-Namaa’ Asia-Pacific Equity Growth - Financial Year Ended 31 October

Income Statement 2014 2013 2012

(USD ‘000) (USD ‘000) (USD ’000)

Investment (loss)/income (331) 412 911

Total expenses (370) (351) (340)

Net (loss)/income before tax (701) 61 571

Net (loss)/income after tax (736) 15 524

Statement of asset and liabilities 2014 2013 2012

(USD ‘000) (USD ‘000) (USD ’000)

Total investments 12,656 13,474 14,106

Total other assets 2,536 2,626 2,502

Total assets 15,192 16,100 16,608

Total liabilities (113) (89) (79)

Net asset value 15,079 16,011 16,529

Unit Holders’ capital 9,506 9,703 10,236

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Namaa’ Asia-Pacific Equity Growth - Financial Year Ended 31 October


(RM ‘000) (RM ‘000) (RM ’000)

Investment (loss)/income (10) 101 48


Net (loss)/income before tax (25) 88 28

Net (loss)/income after tax (25) 88 28


(RM ‘000) (RM ‘000) (RM ’000)


Total other assets 47 56 100

Total assets 1,352 1,536 3,107


Net asset value 1,334 1,517 3,085

Unit Holders’ capital 332 491 2,147

Am-Mateen Asia-Pacific Equity - Financial Year Ended 31 October


(USD ‘000) (USD ‘000) (USD ’000)

Investment income 551 363 1,800


Net income/(loss) before tax 237 (5) 1,489

Net income/(loss) after tax 195 (253) 1,453


(USD ‘000) (USD ‘000) (USD ’000)


Total other assets 1,888 2,914 3,617

Total assets 15,685 15,490 16,397


Net asset value 15,412 15,289 15,768

Unit Holders’ capital 15,081 15,153 15,380

37

MANAGEMENT EXPENSE RATIO (MER) The following table reflects the total annual expenses incurred by the Funds as at the Funds’ last financial year ended 31 October 2014:

Management fee Trustee fee Other expenses Total annual

expenses

USD % USD % USD % USD %


274,274 1.80 9,142 0.06 86,887 0.56 370,303 2.42


275,189 1.80 9,173 0.06 29,710 0.19 314,072 2.05

Management fee Trustee fee Other expenses Total annual

expenses

RM % RM % RM % RM %

Namaa’ Asia- Pacific Equity Growth

726 0.05 899 0.06 13,858 0.92 15,483 1.03

The following table reflects the management expense ratio (“MER”) of the Funds for three (3) most recent financial years:

Financial Year Ended 31 October

2014 2013 2012

Am-Namaa’ Asia-Pacific Equity Growth 2.42 2.18 2.15

Namaa’ Asia- Pacific Equity Growth 1.03 0.70 0.76

Am-Mateen Asia-Pacific Equity 2.05 2.35 2.07 Audited financial statements of the Funds are disclosed in the Funds’ annual reports. The Funds’ annual reports are available upon request. Past performances of the Funds are no indication of its future performances.

38

FEES, CHARGES AND EXPENSES CHARGES This table describes the charges that you may directly incur when you buy or redeem units of the Funds:

Name of Fund Am-Namaa’ Asia-

Pacific Equity Growth



Entry Charge The maximum rate imposed by each distribution channel during the life of this Prospectus is :

Distribution channel

Maximum entry charge

Direct Sales Up to 5.00% of NAV per unit of the Fund

IUTA Up to 5.00% of NAV per unit of the Fund

Note: All entry charges will be rounded up to two (2) decimal points. Investors are advised that they may negotiate for lower entry charge prior to the conclusion of sales. The Manager reserves the right to waive or reduce the entry charge from time to time at its absolute discretion. There will be no double charging of the entry fee for the Feeder Fund and Target Fund.

Exit Penalty Nil

Other Charges Switching fee

For switches between any of the funds managed by AmInvestment Services, you may be charged up to 6% of amount switched. Bank charges/fees

Any bank charges you may incur during injection or withdrawal.

Please refer to pages 45 to 46 for illustration on how the charges directly incurred by investors when purchasing or redeeming units of the funds are calculated. Note: All fees, charges and expenses disclosed in the Prospectus are expressed on a GST-exclusive basis. Accordingly, to the extent that services provided are subject to GST, the amount of GST payable on any related fees, charges and/or expenses will be payable by the Unit Holder and/or the Fund (as the case may be) in addition to the fees, charges and expenses disclosed in the Prospectus.

39

ONGOING FEES AND EXPENSES The fees and expenses that you may indirectly incur are as follows:- 6. Management fee for

(a) Am-Namaa’ Asia-Pacific Equity Growth and Am-Mateen Asia-Pacific Equity

Management fee of up to 1.80% p.a. of the Fund's NAV is charged to the Funds. The management fee is calculated on a daily basis and will be paid monthly.

An illustration of the Manager’s fee per day calculation and apportionment of the daily management fee is as follows:

USD Investment in the Fund

190,000,000

Liquid assets

10,000,000

NAV (before fees) 200,000,000

Management fee for the day is calculated as follows: (Investments + Liquid Assets) x 1.80% Number of Days in a year 200,000,000 x 1.80% = USD 9,863.01 (rounded to 2 decimal points) 365 days

A GST of 6.00% will be applicable to the Management fee. GST applicable to the Management fee for the day

= Management fee for the day x GST (%)

= USD9,863.01 x 6.00% = USD591.78 (rounded to 2 decimal points) Management fee for the day charged by the Fund inclusive of GST = USD9,863.01 + USD591.78 = USD10,454.79

(b) Namaa’ Asia-Pacific Equity Growth

Management fee is charged up to 1.80% p.a. of the NAV of the Fund. The management fee is calculated on a daily basis and will be paid monthly out from the Fund. The Target Fund charges a fee of up to 1.80% p.a. of the NAV for the investment in the Target Fund as management fee, which will be paid from the portion of management fee received by the Manager (1.80% p.a. of the NAV).There will be no double charging of the management fee.

40

An illustration of the Manager’s fee per day calculation and apportionment of the daily management fee is as follows:

RM

Investment in the Fund 190,000,000

Liquid assets 10,000,000

NAV (before fees) 200,000,000

The details on the apportionment of management fee between the Target Fund, Am-Namaa’ Asia-Pacific Equity Growth and Feeder Fund, Namaa’ Asia-Pacific Equity Growth fees is shown below: Management fee for the day is calculated as follows: (Investments + Liquid Assets) x 1.80% Number of days in a year

1. Charged by the Target Fund (Am-Namaa’ Asia-Pacific Equity Growth)

USD 200,000,000 x 1.80% = USD9,863.01 (rounded to 2 decimal points) 365 days A GST of 6.00% will be applicable to the management fee. GST applicable to the management fee for the day = Management fee for the day x GST (%) = USD9,863.01 x 6.00% = USD591.78 (rounded to 2 decimal points) Management fee for the day charged by the Fund inclusive of GST = USD9,863.01 + USD591.78 = USD10,454.79

2. Charged by Feeder Fund (Namaa’ Asia-Pacific Equity Growth)

(a) RM190,000,000 x 0.00% = 0

365 days

(b) RM10,000,000 x 1.80% = RM493.15 365 days

GST applicable to the management fee charged by the Feeder Fund RM493.15x 6.00% = RM29.59 (rounded to 2 decimal points) Management fee charged by the Feeder Fund inclusive of GST

41

= RM493.15 + RM29.59 = RM522.74

(i) Payments made by us from the Manager’s fee

To AmIslamic Funds Management Sdn. Bhd. As we delegate the investment management function to AmIslamic Funds

Management Sdn. Bhd., we pay from our Manager’s fee to AmIslamic Funds Management Sdn. Bhd. for performing the investment management function.

To licensed distributors We may pay our licensed distributors a fee from our own resources derived

from the Manager’s fee for servicing the investors. To the Target Fund As Namaa’ Asia-Pacific Equity Growth will be investing in a collective

investment scheme i.e. the Target Fund, there are fees and charges that will be incurred by Am-Namaa’ Asia-Pacific Equity Growth. Please refer to page 30 for details on the fees charged by the Target Fund.

2. Trustee Fee

The Trustee is entitled to the trustee fee for acting as trustee to safeguard the interest of the Unit Holders and as custodian of the Fund. This fee is calculated daily and paid monthly. (a) For Am-Namaa’ Asia-Pacific Equity Growth and Namaa’ Asia-Pacific Equity Growth,

the trustee fee is up to 0.08% p.a. of the NAV of the Fund.

(b) For Am-Mateen Asia-Pacific Equity, the trustee fee is up to 0.08% p.a. of the NAV of the Fund subject to a minimum fee of RM10,000.

(c) An illustration of the trustee fee for Am-Namaa’ Asia-Pacific Equity Growth and Am-

Mateen Asia-Pacific Equity is as follows:

(Investments + Liquid assets) x 0.08% Number of days in a year Assuming the NAV of the Fund is USD200,000,000.00 for the day and the trustee fee is 0.08% p.a. of the NAV of the Fund, then the daily accrued trustee fee would be : - USD200,000,000.00 x 0.08% x 1/365 = USD438.36 (rounded to 2 decimal points) A GST of 6.00% will be applicable to the trustee fee. GST applicable to the trustee fee or the day = Trustee fee for the day x GST (%) = USD438.36 x 6.00% = USD26.30 (rounded to 2 decimal points) Trustee fee for the day charged by the Fund inclusive of GST = USD438.36 + USD26.30 = USD464.66

42

(d) An illustration of the Trustee’s fee for Namaa’ Asia-Pacific Equity Growth

(Investments + Liquid assets) x 0.08%

Number of days in a year Assuming the NAV of the Fund is RM200,000,000 for the day and the trustee fee is 0.08% p.a. of the NAV of the Fund, then the daily accrued trustee fee would be :- RM 200,000,000.00 x 0.08% x 1/365 = RM 438.36 (rounded to 2 decimal points) A GST of 6.00% will be applicable to the trustee fee. GST applicable to the trustee fee for the day = Trustee fee for the day x GST (%) = RM438.36 x 6.00% = RM26.30 (rounded to 2 decimal points) Trustee fee for the day charged by the Fund inclusive of GST = RM438.36 + RM26.30 = RM464.66

Investors are advised that they are charged up to 0.08% p.a. of the NAV of the Fund and up to 0.08% of the NAV of the Target Fund as disclosed on page 30.

3. Shariah Adviser Fee

The Shariah Adviser is entitled to an annual Shariah Adviser fee for acting as the Shariah Adviser of Am-Namaa’ Asia-Pacific Equity Growth and Am-Mateen Asia-Pacific Equity to ensure that all investments of the Funds are Shariah Compliant. This fee is calculated daily and paid monthly. The Shariah Adviser’s fee is up to 0.04% p.a. of the NAV of the Fund. An illustration of the Shariah Adviser’s fee is as follows:

(Investments + Liquid assets) x 0.04% Number of days in a year USD200,000,000.00 x 0.04% x 1/365 = USD219.18 (rounded to 2 decimal points) A GST of 6.00% will be applicable to the Shariah Adviser’s fee. GST applicable to the Shariah Adviser’s fee for the day = Shariah Adviser’s fee for the day x GST (%) = USD219.18 x 6.00% = USD13.15 (rounded to 2 decimal points) Shariah Adviser’s fee for the day charged by the Fund inclusive of GST = USD219.18 + USD13.15 = USD232.33

43

Investors are advised that there is no Shariah Adviser’s fees for Namaa’ Asia-Pacific Equity Growth as the Shariah Adviser’s fee is charged at the Target Fund as disclosed at page 30.

4. Fund expenses

The Manager and Trustee may be reimbursed out of the Fund for any cost reasonably incurred in the administration of the Fund. The Fund’s expenses currently include but are not limited to audit fee, tax agent’s fee, printing and postages of annual and interim reports, bank charges, investment committee fee for independent members, custodian fee (not applicable to Namaa’ Asia-Pacific Equity Growth), lodgment fee for Fund’s reports, commission paid to the brokers (if any) and other expenses as permitted by the Deed.

Note: All fees, charges and expenses disclosed in the Prospectus are expressed on a GST-exclusive basis. Accordingly, to the extent that services provided are subject to GST, the amount of GST payable on any related fees, charges and/or expenses will be payable by the Unit Holder and/or the Fund (as the case may be) in addition to the fees, charges and expenses disclosed in the Prospectus. REBATES AND SOFT COMMISSION It is our policy to channel all rebates, if any, received from stockbrokers/dealers to the Fund. However, soft commissions received for goods and services which are of demonstrable benefit to Unit Holders such as fundamental databases, financial wire services, technical analysis software and stock quotation system incidental to investment management of the Fund are retained by us. There are fees and charges involved and investors are advised to consider them before investing in the Fund.

44

TRANSACTION INFORMATION PRICING & VALUATION POINTS The Fund adopts a single pricing policy i.e which means subscription and redemption of units will be carried out at the NAV per unit. In addition, the Fund also adopts forward pricing which means price for units will be calculated at the next valuation point.

Valuation point refers to such time(s) on a Business Day as may be decided by the Manager wherein the NAV per unit of the Fund is calculated. The valuation of the Fund will be carried out on the next Business Day (T+1) by 5.00 p.m. This is to cater for the currency translation of the foreign securities/instruments to the Fund's base currency based on the bid exchange rate quoted by Bloomberg/Reuters at 4.00 pm (UK time) which is equivalent to 11.00 pm or 12.00 am midnight (Malaysian time) on the same day, or such other time as stipulated in the Investment Management Standards issued by the Federation of the Investment Managers Malaysia (FiMM).

During the tenure of the Fund, the investor will buy units at a NAV per unit of the Fund plus applicable entry charge (if any) at the next valuation point. Withdrawal will be calculated based on the NAV per unit of the Fund less applicable exit penalty (if any) at the next valuation point.

In the event of any incorrect pricing of units of the Fund, the Manager shall take immediate remedial action to rectify the incorrect pricing. Where the incorrect pricing: (i) is equal or more than zero point five per centum (0.5 %) of the NAV per unit; and (ii) results in a sum total of RM10.00 or more, then the Manager shall reimburse the Fund and the affected Unit Holder as follows : (a) where the error is as a result of over valuation (i.e. the price quoted is higher than the actual

price), the Manager shall reimburse :

(i) the Fund (for the difference between the redemption amount paid out by the Fund and the amount per the amended valuation) and/or

(ii) the Unit Holders (for the difference between the value of subscription proceeds paid by the Unit Holder and the amount per the amended valuation);

(b) where the error is as a result of under valuation (i.e. the price quoted is lower than the actual

price), the Manager shall reimburse:

(i) the Fund (for the difference between the value of subscription proceeds paid by the Unit Holder and the amount per the amended valuation) and/or

(ii) the Unit Holders (for the difference between the redemption amount paid out by the Fund and the amount per the amended valuation)

Subject to any regulatory requirements, the Manager shall have the right to amend, vary or revise the above said limits or threshold from time to time.

Policy in Rounding Adjustment

The NAV per unit for the Fund is rounded to four (4) decimal points. Redemption proceeds, units created, fees and charges are rounded to two (2) decimal points.

45

Illustration of computation of NAV per unit, subscription of units and withdrawal of units are as follows:- Am-Namaa’ Asia-Pacific Equity Growth and Am-Mateen Asia-Pacific Equity NAV per unit The following is a hypothetical example of the calculation of NAV per unit:

Total NAV (USD) 10,000,000

Unit in circulation (units) 50,000,000

NAV per unit (USD) (Total NAV/Unit in circulation)

0.2000

Making an investment Assuming that an investor wants to invest USD10,000 in the Fund. The NAV per unit is USD0.2000 and entry charge is 5.00% of NAV per unit. The investor will need to pay the amount as illustrated below to the Manager:

Items USD/Units Explanation

i. Amount to be invested (investment amount) USD10,000

ii. Units issued to investor 50,000 units USD10,000/USD0.2000 per unit

iii. Entry charge incurred by investor

USD500 USD10,000 x 5.00%

iv. GST of 6% on Entry Charge USD30 USD500 x 6.00%

v. Amount payable by investor USD10,530 USD10,000+USD500+ USD30 For Am-Mateen Asia-Pacific Equity, subscriptions may be made either in the base currency of the Fund (USD) or in RM. Investors should note that any subscription amount received in RM would be converted to the base currency of the Fund using the spot exchange rate quoted by a financial institution on the next Business Day. Investors should note that the amount will be converted into the base currency at the risk and expense of investors. Redeeming an investment Assuming an investor wishes to redeem 10,000 units from the Fund. The NAV per unit is USD 0.2000. Hence, the total amount payable to the investor is USD2,000 as illustrated below:

Items USD/Units Explanation

i. Units redeemed 10,000 units

ii. Gross amount payable to investors USD2,000 10,000 units x USD0.2000

iii. Exit penalty incurred by investor

USD0 10,000 units x USD0.2000 per unit x 0%

iv. Amount payable to investor USD2,000 USD2,000 – USD0

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For Am-Mateen Asia-Pacific Equity, withdrawals may be paid either in the base currency of the Fund (USD) or in RM. Where the withdrawal proceeds are paid in RM, the Trustee will convert the withdrawal proceeds upon receipt from the base currency to RM using the spot exchange rate quoted by a financial institution on the next Business Day following the valuation point. Investors should note the currency conversion will be done at the risk and expense of investors. Namaa’ Asia-Pacific Equity Growth NAV per unit The following is a hypothetical example of the calculation of NAV per unit:

Total NAV (RM) 10,000,000

Unit in circulation (units) 50,000,000

NAV per unit (RM) (Total NAV/Unit in circulation)

0.2000

Making an investment Assuming an investor wishes to invest RM10,000 in the Fund. The NAV per unit is RM1.000 and entry charge is 5.00% of NAV per unit. The investor will need to pay the amount as illustrated below to the Manager:

Items RM/Units Explanation

i. Amount to be invested (investment amount) RM10,000

ii. Units issued to investor 10,000 units RM10,000/ RM1.000 per unit

iii. Entry charge incurred by investor

RM500 RM10,000 x 5.00%

iv. GST of 6% on Entry Charge RM30 RM500 x 6.00%

v. Amount payable by investor RM10,530 RM10,000+RM500 +RM30 Redeeming an investment Assuming an investor wishes to redeem 10,000 units from the Fund. There is no exit charge. Hence, the total amount payable to the investor is RM10,000 as illustrated below:

Items RM/Units Explanation

i. Units redeemed 10,000 units

ii. Gross amount payable to investors

RM10,000 10,000 units x RM1.000 per unit

iii. Exit penalty incurred by investor RM 0

10,000 units x RM1.000 per unit x 0%

iv. Amount payable to investor RM10,000 RM10,000 – RM 0

Investors are advised not to make payment in cash when purchasing units of the Fund via any institutional/retail agent.

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MAKING AN INVESTMENT Cash (notes or coins) will strictly not be accepted other than at authorised licensed financial institutions. Persons dealing in unit trust are not authorised to accept cash payments under any circumstances. If you give any of our licensed distributors which include persons dealing in unit trust cash you do so at your own risk. The Manager & the Trustee shall not be held responsible in any way.

Step 1 Eligibility

Individual investor For a single applicant The applicant must be 18 years of age and above. For joint applicants The first named applicant must be 18 years of age and above. The joint applicant can be of any age. Corporate investors Companies, co-operatives, societies, sole proprietors, institutions, etc. Note: Only corporate investors are allowed to invest in Am-Namaa’ Asia-Pacific Equity Growth. The Manager has the right to reject any application by US Person. If the Manager becomes aware of an investor being a US Person holding units of the Fund, the Manager may require that person to either withdraw the units of the Fund or transfer the units of the Fund to a non-US person.

Step 2 Forms to be completed

For initial investment

a. Account opening form - individual or corporate; b. FATCA declaration form; c. One (1) set of specimen signature card; d. Personal Data Protection Act consent form; and e. Suitability assessment form.

For additional investment

a. Transaction form

Step 3 Documents required (only for initial investment)

Individual investor and/or joint applicants A copy of applicant’s National Registration Identity Card (NRIC) or passport or birth certificates Non-individual or corporate investors a. a certified true copy of the Memorandum and Articles of

Association or its equivalent; b. a certified true copy of Form 24 and 49 or its equivalent; c. an original copy of a board resolution approving investments in the

Fund or its equivalent; d. list of authorized personnel to effect any instructions pertaining to

the Fund (if not mentioned in the board resolution or its equivalent); e. a copy of the latest audited financial statement of accounts; and f. any other approvals required from relevant authorities.

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Step 4 Manner of payment and delivery

Payments can be made using cheque or bank draft made payable to: “AmInvestment Services Berhad” * Applicants are to write their names and NRIC numbers or passport numbers at the back of the cheque or bank draft. You can either submit the application with complete documentation and payment to us or submit to our distributor. If we do not receive complete documentation with the payment, we reserve the right to reject the application. If you deposit payment into our account and do not notify or provide us with the complete documentation, we shall reject your application and hold such amount until claimed. * With effect from 10 September 2015, payments must made payable to “AmFunds Management Berhad – Trust A/C”

Note: Where payment is by cheque, the cheque must be issued by the investor. Third party cheque payment must be accompanied with a properly signed letter from the issuer of the cheque stating that he or she is aware that the cheque is used for investment in the Fund by the investor duly named. In the case of bank draft, a copy of the application for the bank draft as approved by the relevant bank must be submitted with the bank draft. If the bank draft is applied by a third party, then a letter from the third party attesting to the use of the bank draft for the investment in unit trust by the investor must be submitted.

Minimum initial investment

Am-Namaa’ Asia-Pacific Equity Growth USD10,000 or such amount as the Manager may from time to time decide. Namaa’ Asia-Pacific Equity Growth RM1,000 or such amount as the Manager may from time to time decide. Am-Mateen Asia-Pacific Equity RM1,000 or USD500 or such amount as the Manager may from time to time decide.

Minimum additional investment

Am-Namaa’ Asia-Pacific Equity Growth. USD10, 000 or such amount as the Manager may from time to time decide. Namaa’ Asia-Pacific Equity Growth. RM500 or such amount as the Manager may from time to time decide. Am-Mateen Asia-Pacific Equity RM500 or USD250 or such amount as the Manager may from time to time decide.

Submission of application Monday to Friday (except public holiday)

Cut-off time If an application with complete documentation and payment are

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accepted by the Manager before 4.00 p.m. on any Business Day, it will be processed at the end of day NAV per unit on the same Business Day.

If an application with complete documentation and payment are accepted by the Manager after 4.00 p.m. on any Business Day or on a non-Business Day, the application will be processed at the end of day NAV per unit on the next Business Day. For more details on NAV calculation, please refer to page 44.

Investors are advised not to make payment to any institutional/retail agent in cash when purchasing units of the Fund.

The Manager has the absolute discretion to accept or reject in whole or in part any application for units. Application for units must be made by completing the relevant application forms or transaction forms as required and subscription monies accompanied by such documents. Confirmation of an application You shall be issued a transaction advice slip within two (2) weeks of processing your application. No certificates are issued. Instead your details are entered into the register of Unit Holders, which is kept at our head office and can be inspected during business hours. Miscellaneous application information You will be responsible for all losses and expenses of the Fund in the event of any failure to make payments according to the procedures outlined in this Prospectus. In addition, a RM20 charge will be imposed if a cheque does not clear. Such losses and expenses shall be deducted by the Manager from your account with us. We reserve the right to reject any application. We also reserve the right to change or discontinue any of our application procedures.

Exercising your cooling-off right If you make an investment and later decide that the investment does not suit your needs you may withdraw your money within six (6) Business Days of making the investment i.e. cooling-off period. You should be aware that the cooling-off right is only available on your first investment with the Manager. Subsequent investments will not enjoy this right. The cooling-off right is not available to non-individual corporation, institution, staff of the Manager and persons dealing in unit trust of the Manager.

MAKING WITHDRAWALS An investor can make a withdrawal by completing a transaction form. Transaction forms are available at our offices. Please ensure that the transaction form is signed in accordance with your signing instruction given to us. An investor may withdraw all or part of their units on any Business Day subject to the minimum withdrawal and minimum holding units unless it is a complete withdrawal.

Minimum withdrawal Am-Namaa’ Asia-Pacific Equity Growth. 10,000 units or such units as the Manager may from time to time decide.

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Namaa’ Asia-Pacific Equity Growth. 500 units or such units as the Manager may from time to time decide.

Am-Mateen Asia-Pacific Equity 500 units or such units as the Manager may from time to time decide.

Minimum holding or balance

Am-Namaa’ Asia-Pacific Equity Growth. 10,000 units or such units as the Manager may from time to time decide. Namaa’ Asia-Pacific Equity Growth. 1,000 units or such units as the Manager may from time to time decide. Am-Mateen Asia-Pacific Equity 1,000 units or such units as the Manager may from time to time decide.

Submission of redemption notice

Monday to Friday (except public holidays)

Cut-off time If an application with complete documentation is accepted by the Manager before 4.00 p.m. on any Business Day, it will be processed at the end of day NAV per unit of the Fund of the same Business Day. If an application with complete documentation is accepted by the Manager after 4.00 p.m. on any Business Day or on a non-Business Day, the application will be processed at the end of day NAV per unit of the Fund of the next Business Day. For more details on the NAV calculation, please refer to page 45.

Withdrawal proceeds will be paid By the 10th day of receipt of a repurchase notice.

Manner of payment For Am-Mateen Asia-Pacific Equity, withdrawals may be paid either in the base currency of the Fund or in RM. If complete transaction form for withdrawal proceeds to be paid in RM is received before the cut-off time on any Business Day, the Manager will convert the withdrawal proceeds from the base currency to RM using the spot exchange rate quoted by a financial institution on the next Business Day following the valuation point. If complete transaction form for withdrawal proceeds to be paid in RM is received after the cut-off time or on a non-Business Day, the Manager will convert the withdrawal proceeds from the base currency to RM using the spot exchange rate quoted by a financial institution on the second Business Day following the valuation point. Withdrawal proceeds will be paid either by: (a) transferring the proceeds to a bank account held in your own name or the first named Unit

Holder (for joint accounts)

(i) Within the country You may give us instructions in writing to transfer your withdrawal proceeds to your nominated bank account (which can be either a RM account or a Foreign Currency

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Account (“FCA”)) held in your own name or the first named Unit Holder (for joint accounts) within Malaysia only. All bank charges for the transfer will be borne by you. The charges will be deducted from the transferred amount before being paid to your relevant bank account.

You are required to provide us with the relevant bank account details in order for us to proceed with your transfer request. Under normal circumstances, a transfer will take less than two (2) days to reach its destination. It is possible for delays in the banking system to occur which are beyond our control. If the proceeds cannot be transferred, we shall draw a cheque payable to you (for payment in RM) or bank draft (for payment in any foreign currency).

(ii) Overseas

You may give us instructions in writing to transfer your withdrawal proceeds to your nominated bank account overseas held in your own name or the first named Unit Holder (for joint accounts). All bank charges for the transfer will be borne by you. The charge will be deducted from the transferred amount before being paid to your relevant bank account. You are also required to comply with the requirements of the Exchange Control Act 1953.

(b) by cheque/bank draft

Your withdrawal proceeds will be made payable by cheque to your name only or the first named Unit Holder (for joint accounts).

No withdrawals will be paid in cash under any circumstances.

Miscellaneous withdrawal information We reserve the right to defer the calculation of withdrawal price with the consent of the Trustee (or as permitted by the SC) after receiving the repurchase order if in our judgment, an earlier payments could adversely affect a Fund.

Notification of withdrawal You can make a withdrawal by completing a transaction form through our distributors. Please ensure that the transaction form is signed in accordance with your signing instruction given to us. OTHER INFORMATION Switching between funds You can switch all or some of your investments from one fund to another fund managed by us at our discretion by simply completing a switching form. It should be noted that when you switch into a new fund, the amount switched must meet the minimum application amount of the new fund. For switches between any of the funds managed by us, you may be charged up to 6% of amount switched, per switch. However, we may at our discretion waive or vary the switching fee of a fund to an amount of 6% of amount switched, per switch. For switches between any of our funds with dealing currency other than RM, you will be subjected to the prevailing foreign exchange conversion rate.

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Transfer Facility Transfer of the Fund’s units is allowed at the Manager’s discretion. You can transfer all or some of your investments to another person simply completing a transfer form and signed by both parties (transferor and transferee). A full set of account opening documents are also required to be filled by the transferee if he/she is a new client to the Manager. However, the Manager has the discretion to reject the application. We may, at our absolute discretion without giving any reason, refuse to register a transfer. Distribution/Loss equalization Distribution/loss equalisation represents the average amount of undistributed net income/accumulated losses included in the creation or release price of units. This amount is either refunded to the Unit Holders by way of income distribution and/or adjusted accordingly when units are released back to the Trustee. Financing Financing for the purchase of units may be provided by any financial institution. However, you should assess for yourselves before proceeding, if financing is suitable for you in light of your objectives, attitude towards risk and financial circumstances. When considering financing, you should take into consideration that:- i. The higher the margin of financing, the greater the potential for losses as well as gains; ii. If the financing taken is a variable rate financing, and if profit rates rises, the total payment

amount will also increase; and iii. If unit prices were to fall beyond a certain level, you will need to pay additional amounts on top

of your normal installments. If you fail to honor the payments within the prescribed time your units may be sold to settle the financing.

TEMPORARY SUSPENSION OF DETERMINATION OF NAV AND OF THE ISSUE, SWITCHING AND REDEMPTION OF UNITS The Manager may suspend the determination of the NAV of units in the Fund, the issue of units, switching of units and the redemption of units: a. during any period when any market or stock exchange, which is the principal market or stock

exchange on which a material part of the investments of the Fund or the time being are quoted, is closed, or during which dealings are substantially suspended or restricted;

b. during the existence of any state of affairs which constitutes an emergency as a result of which disposal of investments of the Fund is not possible;

c. during any breakdown in the means of communication normally employed in determining the price of the Fund’s investments or of current prices on any market or stock exchange;

d. when for any other reason the prices of any investments owned by the Fund cannot promptly or accurately be ascertained;

e. during any period when remittance of monies which will or may be involved in the realisation of or in the payment for any of the Fund’s investments cannot, in the opinion of the Manager, be carried out at normal rates of exchange; and

f. in the event of the publication of a notice convening an Unit Holders meeting. Unit Holders who have requested switching or redemption of their units will be notified in writing of any such suspension of the right to subscribe, to convert or to require redemption of units and will be promptly notified upon termination of such suspension. Any such suspension will be published in

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the newspapers in which the Fund’s unit prices are generally published if in the opinion of the Fund the suspension is likely to exceed one week. Any suspension shall be in accordance with the Deed. FOREIGN EXCHANGE TRANSACTIONS Where payments are tendered by a subscriber or, if a capital withdrawal is required in a currency other than that in the base currency of the Fund, the necessary foreign exchange transactions are arranged by the Manager and at the expenses of, the applicant at prevailing exchange rates on the relevant Business Day. Please note that, when the investor’s dealing currency is different from the base currency of the Fund, unfavorable movements in foreign exchange rates may affect the value of the investor’s return. INCOME DISTRIBUTION POLICY

Name of Fund Am-Namaa’ Asia-Pacific Equity Growth



Income Distribution Not available

Income distribution (if any) is incidental and will be automatically be reinvested.

Income distribution (if any) is incidental.

Mode of Income Distribution Not available

Income distributed will be automatically reinvested into your account with us at no cost, based on the NAV per unit at the end of the Business Day of the income distribution date.

UNCLAIMED MONIES Any cheque payable to you which remain unclaimed after such period (currently being 12 months) will be paid to Registrar of Unclaimed Moneys in accordance with the requirements of the Unclaimed Moneys Act 1965. Thereafter all claims need to be made to the Registrar of Unclaimed Moneys. DISTRIBUTION CHANNELS The Fund is distributed by AmBank Group channels and selected IUTA distributors. The AmBank Group channels consist of:- (a) AmBank (M) Berhad with extensive branch network of around 190 branches nationwide; (b) AmInvestment Bank including AmPrivate Banking with a total of five (5) branches. You may also contact the Manager for the list of distributors. For contact details of the Manager, please refer to page 83. Investors are advised not to make payment in cash when purchasing units of a fund via any institutional/retails agent.

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SALIENT TERMS OF THE DEED

RIGHTS AND LIABILITIES OF UNIT HOLDERS An investor is deemed to be a Unit Holder when units are issued to him/her upon the Manager accepting completed documentation with payment. Each unit held in the Fund entitles a Unit Holder to an equal and proportionate beneficial interest in the Fund. However, a Unit Holder does not own or have a right to any particular asset held by the Fund and cannot participate in management decisions except in very limited circumstances as set out in the Deed. As a Unit Holder, you have the right to:

i. receive income distribution (if any); ii. have your units repurchased; iii. transfer your units, subject to our discretion; iv. participate in termination or winding up of the Fund; v. call, attend and vote at meetings (the rules governing the holding of meetings are set out in the

law and the Deed); vi. receive a statement of investment for units; vii. receive annual and interim reports of the Fund; and viii. exercise cooling-off rights (only applicable to Namaa’ Asia-Pacific Equity Growth & Am-Mateen

Asia-Pacific Equity. The law and the Deed limit a Unit Holders’ liability to the value of your investments in the Fund. Accordingly, if the Fund’s liabilities exceed its assets, no Unit Holder, by reason alone of being a Unit Holder, will be personally liable to indemnify the Trustee or the Manager or any of their respective creditors. FEES AND CHARGES PERMITTED BY THE DEEDS The following are the maximum fees and charges as provided in the Schedules under the Deed:-

Annual Management Fee Up to 1.80% p.a. of the NAV of the Fund

Annual Trustee Fee

Am-Namaa’ Asia-Pacific Equity Growth and Namaa’ Asia-Pacific Equity Growth Up to 0.08% p.a of the NAV of the Fund Am-Mateen Asia-Pacific Equity Up to 0.08% p.a. of the NAV of the Fund, subject to a minimum fee of RM18,000 p.a.

Entry Charge Up to 5.00% of the NAV per unit of the Fund

Exit Penalty Nil

Annual Shariah Adviser x 0.04% p.a. of the NAV of the fund

* Not applicable to Namaa’ Asia-Pacific Equity Growth Please note that the fees and/or charges disclosed in the Deed are exclusive of GST and the same as stated in this Prospectus. Any increase in the fees and/or the charges above the level disclosed

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in the Deed shall require Unit Holders’ approval at a duly convened Unit Holders’ meeting and subsequently a supplemental deed and supplemental prospectus will be issued. PERMITTED EXPENSES PAYABLE OUT OF THE FUNDS The permitted expense which are directly related and necessary to the business of the Funds are payable out of the Fund as provided in the Deed includes the following: (a) commissions/fees paid to brokers in effecting dealings in the Fund’s property, shown on the

contract notes or confirmation notes; (b) (where the custodial function is delegated by the Trustee) charges/fees paid to sub-

custodians; (c) taxes and other duties charged on the Fund by the Government and/or other authorities; (d) fees and other expenses properly incurred by the Auditor; (e) fees for the valuation of the Fund’s property by independent valuers for the benefit of the

Fund; (f) costs incurred for any modification of this Deed save where such modification is for the

benefit of the Manager and/or the Trustee; and (g) costs incurred for any meeting of the Unit Holders save where such meeting is convened by,

or for the benefit of, the Manager and/or the Trustee. Additional permitted expenses payable out of the Fund, however, only applicable for Am-Mateen Asia-Pacific Equity: (h) remuneration and out of pocket expenses of the independent members of the investment

committee and/ or the members of the Shariah committee or advisers (if any) of the Fund, unless the Manager decides to bear the same;

(i) costs involved with external specialists approved by the Trustee in investigating and evaluating any proposed investment;

(j) termination of the Fund and the retirement or removal of the Trustee or the Manager and the appointment of a new trustee or manager;

(k) any proceedings, arbitration or other dispute concerning the Fund or any asset, including proceedings against the Trustee or the Manager by the other of them for the benefit of the Fund (except to the extent that legal costs incurred for the defense of either of them are not ordered by the court to be reimbursed out of the Fund; and

(l) costs of obtaining expert opinion(s) by the Trustee and the Manager for the benefit of the Fund.

RETIREMENT, REMOVAL OR REPLACEMENT OF THE TRUSTEE Trustee may retire upon giving twelve (12) months’ notice to the Manager of the Fund of its desire to do so, or such shorter period as the Manager and the Trustee may agree, and may by the Deed appoint in its stead a new Trustee approved by the SC. The Trustee may be removed and another Trustee may be appointed by special resolution of the Unit Holders at a duly convened meeting of which notice has been given to the Unit Holders in accordance with the Deed. REMOVAL, RETIREMENT OR REPLACEMENT OF THE MANAGER The Manager may be removed by the Trustee on the grounds that:

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(a) if the Manager has failed or neglected to carry out its duties to the satisfaction of the Trustee and the Trustee considers that it would be in the interests of Unit Holders for it to do so after the Trustee has given notice to the Manager of that 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 and with the approval of the Unit Holders by way of a special resolution;

(b) 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 management company under the relevant laws; or

(c) 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; and

(d) the Manager shall not accept any extra payment or benefit in relation to such removal. The Manager may retire in favour of some other corporation and as necessary under any relevant law upon giving to the Trustee twelve(12) months’ notice in writing of its desire to do so, or such lesser time as the Manager and the Trustee may agree upon. TERMINATION OF THE FUND The Fund may be terminated or wound up upon the occurrence of any of the following: (a) the approvals of the relevant authorities have been revoked under any of the relevant laws; (b) a special resolution is passed following the occurrence of any of the events stipulated under

any relevant law, with the sanction of the court if so required; (c) a special resolution is passed to terminate or wind up the Fund; (d) the Fund has reached its maturity date; and (e) the effective date of an approved transfer scheme has resulted in the Fund, being the

subject of the transfer scheme, being left with no asset or property. Upon the occurrence of any of the abovementioned events: (a) the provisions in the Deed and all the relevant laws shall cease to be applicable in respect of

the Fund; (b) the Trustee shall cease to create and cancel units; (c) the Manager shall cease to deal in units; and (d) the Trustee shall proceed to wind up the Fund in accordance with the provisions of the

Deed. TERMINATION OF THE FUND BY THE MANAGER OR THE TRUSTEE The Manager may give notice to the Trustee and the Trustee will convene the Unit Holders’ meeting within 3 months, or such other period as mutually agreed between the Manager and the Trustee to consider for the termination of the Fund and the winding-up of the Fund. In respect of termination by the Trustee, in any of the following events: (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;

(b) if, in the opinion of the Trustee, the Manager has ceased to carry on business; or

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(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 a meeting of Unit Holders in accordance with the provisions of the Deed for the purpose of seeking directions from the Unit Holders. The Unit Holders may then if they so choose, pass a special resolution to terminate or wind up the Fund. The termination of the Fund and the winding up of the Fund shall not affect the continuity of any other Funds and unit trust schemes created and established hereunder. UNIT HOLDERS’ MEETING The Manager shall, by the provisions of the Deed, hold a meeting of the Unit Holders within twenty-one (21) days of receiving an application from not less than fifty (50) or one-tenth (1/10) of all the Unit Holders. The Manager must give at least fourteen (14) days written notice to the Unit Holders specifying the place, time and terms of resolutions to be proposed. The Unit Holders may, by the provisions of the Deed, apply to the Manager to summon a meeting for any purpose including, without limitation, for the purpose of: (a) requiring the retirement or removal of the Manager; (b) requiring the retirement or removal of the Trustee; (c) considering the most recent financial statements of the Fund; or (d) giving to the Trustee such directions as the meeting thinks proper; provided always that the

Manager receives an application of not less than fifty(50) or one-tenth (1/10) of all the Unit Holders.

The Trustee may summon a Unit Holders’ meeting where: (a) the Manager is in liquidation; (b) in the opinion of the Trustee, the Manager has ceased to carry on business; (c) in the opinion of the Trustee, the Manager has, to the prejudice of Unit Holders, failed to

comply with the Deed or contravened any of the provisions of the Act; (d) requiring the retirement or removal of the Manager; (e) if the Trustee considers that the investment management policies of the Manager are not in

the interests of Unit Holders; (f) securing the agreement of the Unit Holders to release the Trustee from any liability; (g) deciding on the next course of action after the Trustee has suspended the selling and

repurchase of units; and (h) deciding on the reasonableness of the annual management fee charged to the Fund.

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RELATED PARTY TRANSACTIONS/CONFLICT OF INTEREST All transactions with related parties are to be executed on terms which are best available to the Funds and which are not less favourable to the Funds than on arm’s length transaction between independent parties. The Fund may have dealings with parties related to the Manager. The related parties defined are AIFM, AmInvestment Bank Berhad, AmInvestment Group Berhad, AmBank (M) Berhad and AmIslamic Bank Berhad. Trading in securities by staff is allowed, provided that the policies and procedures in respect of the personal account dealing are observed and adhered to. On a periodical basis, the directors, investment committee members and staff shall disclose their portfolio holdings and dealing transactions. Further, the abovementioned shall make disclosure of their holding of directorship and interest in any company. The directors of AmInvestment Services Berhad may have direct or indirect interest through their directorship in AIFM. Following are the details of the directors: Kok Tuck Cheong is the Chairman of AIS and AIFM. Datin Maznah Mahbob is the Chief Executive Officer of AIS and also a director of AIFM. Mohd Fauzi Mohd Tahir is a Director of AIS and the Executive Director of AIFM. For further details of the director’s profile, please refer to pages 64 to 65.

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ADDITIONAL INFORMATION KEEPING YOU INFORMED When you invest A transaction advice slip will be sent to you. Statement on investment We will send you a statement every six monthly. It will state the balance of units together with all transactions made since the last statement. Reports Within 2 months of a Fund’s financial year or mid-financial year, an annual report or a semi-annual report will be sent to you. Tax voucher We will send you tax vouchers which will set out the information that is needed to complete your tax return form. Publication We will publish newsletters containing topical articles about investment trends and developments. Internet We publish updated information on our website www.aminvest.com. Newspaper The NAV per unit of the Fund is published in major newspapers. The Manager will ensure the accuracy of the NAV per unit forwarded to the press for publication. The Manager, however, will not be held liable for any error or omission in NAV per unit published as this is beyond the Manager’s control. In the event of any NAV per unit discrepancy in the NAV per unit between the newspaper and the Manager’s computation, the Manager’s computed NAV per unit shall prevail. The Manager will publish the NAV per unit in the base currency of the Fund which is in USD. However, upon request, the Manager will indicate the NAV per unit in other dealing currency converted using the FiMM exchange currency guidelines. Customer service For enquiries about the Funds, you may contact us via phone on (03) 2032 2888 or fax (03) 2031 5210 or email [email protected] KEEPING US INFORMED Changing your account details You will be required to inform us in writing on any changes of your account details. Account details will amongst other things include the following the Unit Holder’s address signing instructions how income distributions are to be paid. CUSTOMER IDENTIFICATION PROGRAM Pursuant to the relevant laws of Malaysia on money laundering, we have an obligation to prevent the use of the Fund for money laundering purposes. As such, we and/or our appointed distributors

http://www.aminvest.com.


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have put in place a “Know Your Customer” (“KYC”) policy where procedures are in place to identify and verify the investor’s identification through documents such as identity card, passport, constituent documents or any other official documents. We and/or our appointed distributors reserve the right to request such information, either at the time an application is made or thereafter, as is necessary to verify the identity of an investor (or each of the investors in the case of joint investors) and/or to periodically update our records. We and/or our appointed distributors require you to provide us with your information and information of beneficial owner such as name, date of birth, national registration card number, residential and business address, (and mailing address if different), name of beneficial owner, address of beneficial owner, national registration card number of beneficial owner, date of birth of beneficial owner or other information and official identification. For corporate clients, we and/or our appointed distributors require you to provide us the name of the company, principal place of business, source of income/asset, identification documents of the directors/shareholders/partners, board resolution pertaining to the investment and the person authorized to operate the account, all of which as per requirements under regulation when you open or re-open an account. We and/or our appointed distributors also reserve the right to request additional information including the source of the funds and identity of any beneficial owners as may be required to support the verification information and to allow us to complete adequate due diligence. In the event of delay or failure by the investor to produce any information required for verification purpose, we and/or our appointed distributors may refuse to accept an application request. In relation to a subscription application, any monies received will be returned without interest to the account from which the monies were originally debited, and in relation to redemption application, no units will be redeemed to the investor. In the event of any breaches to the applicable laws on money laundering, we have a duty to notify the relevant authority of the said breaches. AML/ KYC Obligation on IUTA If you have invested in a Fund via an IUTA there may be additional information that the IUTA may need to provide to us, which may include information of the IUTA’s AML policy, an AML undertaking/declaration by the IUTA or its parent company and the release of your particulars to us. Without such information being provided, we may be required to reject your subscription or redemption application until such information is provided by the IUTA to us.

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HOW DO YOU MAKE A COMPLAINT? 1. For internal dispute resolution, you may contact our customer service representative:

(a) via phone to : 03-2032 2888 (b) via fax to : 03-2031 5210 (c) via e-mail to : [email protected]

(d) via letter to :

AmInvestment Services Berhad 9th Floor, Bangunan AmBank Group No. 55, Jalan Raja Chulan 50200 Kuala Lumpur

2. If you are dissatisfied with the outcome of the internal dispute resolution process, please refer

your dispute to the Securities Industry Dispute Resolution Center (SIDREC):

(a) via phone to : 03-2282 2280 (b) via fax to : 03-2282 3855 (c) via e-mail to : [email protected]

(d) via letter to :

Securities Industry Dispute Resolution Center (SIDREC) Unit A-9-1, Level 9, Tower A Menara UOA Bangsar No.5, Jalan Bangsar Utama 1 59000 Kuala Lumpur

3. You can also direct your complaint to Securities Commission Malaysia (SC) even if you have

initiated a dispute resolution process with SIDREC. To make a complaint, please contact the SC’s Investor Affairs & Complaints Department:

(a) via phone to the Aduan Hotline at : 03-6204 8999 (b) via fax to : 03-6204 8991 (c) via e-mail to : [email protected]

(d) via online complaint form available at www.sc.com.my

(e) via letter to :

Investor Affairs & Complaints Department Securities Commission Malaysia No 3 Persiaran Bukit Kiara Bukit Kiara 50490 Kuala Lumpur




http://www.sc.com.my

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DOCUMENTS AVAILABLE FOR INSPECTION For the period of not less than twelve (12) months from this date of this Prospectus, the following documents or copies thereof may be inspected without charge at our registered office and head office: a. The Deed of the Funds or the supplemental deed (if any); b. Each material contract or document referred to in this Prospectus (if any); c. The latest annual and interim report of the Funds; d. All reports, letters or other documents, valuations and statement by any expert, any part of

which is extracted or referred in this Prospectus (if any); e. The audited accounts of the Manager and the Fund for the current financial year (if any); f. The audited accounts of the Manager and the Fund for the last three (3) financial years; and g. Any consent given by experts or persons whose statement appears in the Prospectus.

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MANAGING THE FUND’S INVESTMENT THE MANAGER AmInvestment Services Berhad (with effect from 10 September, the Manager will be known as AmFunds Management Berhad) AIS was incorporated on 9 July 1986 and is a wholly owned by AmInvestment Group Berhad. As at Latest Practicable Date, AIS has more than 29 years of experience in the unit trust industry. As at Latest Practicable Date, the total number of funds under AIS were 92 with a total fund size approximately RM32.8 billion. Pursuant to AMMB Holdings Berhads’ (the holding company of AIS and AmInvesment Management Sdn Bhd) initiative to streamline the business operations of its asset management business under AIM and the unit trust business under AIS, the businesses of both AmInvesment Management Sdn Bhd and AIS are consolidated to operate under a single operating structure, i.e., under AIS. With effect from 1 December 2014, AIS is the holder of a Capital Markets and Services Licence for the regulated activities of fund management, dealing in securities restricted to unit trusts and dealing in private retirement scheme issued under the Act. AIS is responsible to manage, invest, realize, reinvest or howsoever deal with the Fund in accordance with the investment objective and guidelines, including investment limits and restrictions of the Fund. As at Latest Practicable Date, AIS has 202 employees of whom 180 are executives and 22 non-executives.

31 May 2015 Year Ended 31 March

Unaudited 2014 2013 2012

Paid up share capital (RM’000) 5,539 5,539 5,539 5,539

Shareholders’ funds (RM’000) 88,064 68,111 61,389 63,537

Turnover (RM’000)* 29,129 150,162 158,713 116,389

Pretax Profit/(Loss) (RM’000) 8,493 49,425 50,929 42,281

After Tax Profit/(Loss) (RM’000) 6,455 36,743 38,081 31,826

* Includes entry charge and Manager’s fee earned by the Manager DUTIES AND RESPONSIBILITIES OF THE MANAGER As the Manager of the Fund, we are responsible for setting the investment policies and objective for the Funds. The Manager is also responsible for the promotions and administration of the Funds which includes but not limited to issuing units, preparing and issuing prospectuses.

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THE BOARD OF DIRECTORS The Board of Directors, of which one-third (1/3) are independent members, exercise ultimate control over the operations of the company. The Board meets once every two (2) months to discuss and decide on business strategies, operational priorities and ways of managing risk within the company. The Board of Directors acts to ensure that investment risk and operational risk are monitored and managed. It also ensures that the company’s operations comply with regulations issued by the government and the regulatory authorities. Kok Tuck Cheong (Non-Independent) is the Chief Executive Officer of AmInvestment Bank Berhad and AmBank Group’s Managing Director of Wholesale Banking Products. He has been with the AmBank Group since 1981. Mr. Kok also sits on the Board of Directors of AmFraser International Pte Ltd (Singapore), AmInvestment Services Berhad and AmIslamic Fund Management Sdn Bhd. Mr. Kok was appointed to the board of AIS on 9 November 2001. Mr. Kok has a Bachelor of Science (Hons) in Commerce and Accounting and subsequently obtained his Master of Science in Financial Managerial Control from the University of Southampton. Tai Terk Lin (Independent) was appointed to the board of directors of AmInvestment Services Berhad as an independent and non-executive director on 15 December 2014. He was previously the Group Chief Executive Officer of ICB Financial Group Holdings AG, the holding company of ICB Banking Group, and a Commissioner of PT Bank ICB Bumiputera. Before that, Mr Tai was the executive director of Platinum Capital Management (Asia) and a Senior Vice President of DBS Bank in Singapore. Mr Tai holds a Master of Business Administration (MBA) from Cranfield University, United Kingdom. He has a Bachelor of Science with Education (B.Sc.Ed (Hons)) from the University of Malaya and holds the Certified Financial Planner (CFP) and the Financial Industry Certified Professional (FICP) from the Institute of Banking and Finance (IBF), Singapore). Mustafa Bin Mohd Nor (Independent) was appointed to the Board of Directors of AmInvestment Services Berhad as an Independent and Non-Executive Director on 3 March 2014. He is also a Director of KUISAS Berhad and a Member of State Investment Committee, Perak Darul Ridzuan. He obtained a Masters of Arts (Economic Policy) from Boston University and Bachelor of Economics (Analytical) from University of Malaya. Datin Maznah Mahbob (Non-Independent) is the Chief Executive Officer of AmInvest. She is responsible for business strategy and management of AmInvest. Datin Maznah has been in the fund management industry since 1987. Prior to this, she was in the Corporate Finance Department of AmInvestment Bank for 3 years. She is a graduate of the Institute of Chartered Secretaries and Administrators (UK) and holds the Capital Markets Services Representative's License for the regulated activity of fund management. Datin Maznah Mahbob was appointed to the Board of Directors of AIS on 29 December 2005. She also sits on the Board of Directors of AMMB Nominees (Tempatan) Sdn Bhd, AMMB Nominees (Asing) Sdn Bhd and AMMB (L) Ltd. Harinder Pal Singh (Non-Independent) is the director of AIS. He is also the Senior Vice President of Operations who is responsible for the overall management of all operational functions of AmInvest. He joined in May 2001. He was attached to the Corporate Services Department of AmInvestment Bank Berhad as a Manager from 1998 to April 2001. He holds a Bachelor’s degree in Accounting from the University of Malaya, Kuala Lumpur. Mohd Fauzi Mohd Tahir (Non-Independent) is a non-Executive Director of AIS. Currently, he also sits as the Executive Director and Head of Islamic Equities in AmIslamic Funds Management Sdn Bhd. He is the designated person responsible for the investments of the Funds and all Islamic equity funds. Prior to his appointment he was the Senior Manager, Investment – Fund Management at one of the world’s largest insurance company. His duties include managing insurance funds as well as research of companies listed on Bursa Malaysia and also unlisted companies. He holds a Bachelor

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of Accounting & Finance from Leeds Metropolitan University Leeds, England. He is also a graduate of Chartered Association of Certified Accountants (ACCA, UK). He also holds a Capital Markets Services Representative’s License for the regulated activity of fund management. THE INVESTMENT COMMITTEE The Fund is required by the SC Guidelines to have an Investment Committee. The Committee meets at least five (5) times a year to review the Fund’s investment objectives and guidelines, and to ensure that the Fund is invested appropriately. The Investment Committee members are: Tai Terk Lin (Independent) (profile as mentioned above) Mustafa Bin Mohd Nor (Independent) (profile as mentioned above) Mr. Harinder Pal Singh (Non-Independent) (profile as mentioned above) Dato’ Mohd Effendi bin Abdullah (Non-Independent) is the Director/Head of Islamic Markets at AmInvestment Bank, and is responsible for Islamic investment banking and finance opportunities within AmInvestment Bank Group. Having joined the bank in 1985, he has held management positions in Corporate Banking, Syndication, Structured Finance and Debt Capital Markets. He is one of the pioneers of the initial set-up of the bank’s Islamic investment banking business in 1993 and is part of the team established to streamline the AmBank Group’s Islamic banking and finance activities across the group in 2001. Dato’ Mohd Effendi has been an active committee member of the Islamic Capital Market Committee, the Malaysian Investment Banking Association (MIBA) and also sits on various working groups/committees at Bank Negara Malaysia, Securities Commission, Malaysia Accounting Standards Board and Association of Islamic Banking Institutions Malaysia. His most recent appointment is as Director on the Board of Directors of the Islamic Banking and Finance Institute Malaysia (IBFIM). Dato’ Mohd Effendi holds a Bachelors (Economics) degree majoring in Accounting and Financial Management from Macquarie University, Sydney, Australia and also holds the Capital Markets Services Representative’s License for the regulated activity of dealing in securities and advising on corporate finance. Dr. Frank Richard Ashe (Independent) was appointed as a member of the investment committee of AmInvestment Services Berhad on 16 February 2015. He has extensive experience in the investment management industry for more than 30 years. He was appointed as the executive director of Legal & General Asset Management, Australia from year 1993 to 1995 contributing in areas such as asset value protection and asset-liability and financial risk management. He was a visiting lecturer at the School of Economics in University of Technology, Sydney in year 1997 lecturing on yield curve analysis and fixed interest securities. Subsequently he became a visiting fellow in Macquarie University from year 1997 to 2001 lecturing in risk and portfolio construction. From 1999 to 2001 he was in charge of the market risk management as a Senior Advisor in the asset management division of Manulife in Canada. He has been an Associate Professor of the Applied Finance Centre of Macquarie University from 2002 to 2014, at the same time he has been an independent consultant since year 2007. Dr. Frank Richard Ashe holds a Bachelor of Arts, First Class Honours, majoring in Actuarial Studies, Statistics, Pure Mathematics, and Applied Mathematics from Macquarie University, and a PhD in Operations Research from the University of New South Wales.

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KEY PERSONNEL OF THE MANAGER Harinder Pal Singh (profile as mentioned above). Datin Maznah Mahbob (profile as mentioned above). Anderson Chua Oou Chuan is the Senior Vice President of Finance and Strategic Management of AmInvest. He is responsible for financial matters of AIS and AmIslamic Funds Management Sdn. Bhd. He is also responsible in formulation and implementation of financial and strategic plans of AmInvest. He has over 13 years of experience in the financial services industry. He holds a Bachelor degree in Accountancy (Hons) from University Putra of Malaysia. Ng Chze How is the Senior Vice President of Retail and Retirement Funds. He is responsible for developing AIS’s unit trust retail market segment since joining in April 2007. Prior to his present role, he was serving as Chief Officer, Sales & Distribution in one of the top five unit trust companies in Malaysia. He is a graduate from University of Strathclyde, United Kingdom, holding a degree majoring in Management and Marketing and is a Certified Financial Planner. His working experience includes consumer, commercial, international banking and investment services. He has 18 years of experience in the financial services industry employed by various local and international conglomerates. Nervinderjeet Kaur is the Senior Vice President of Legal, Compliance and Operational Risk Management. She has more than 17 years experience in the financial services industry attained in Malaysia and Australia. She is responsible for the overall supervision and compliance with the regulatory requirements for AmInvest. She holds a Bachelor of Laws from University of London, United Kingdom. Leslie Cheah Loy Hin is the Senior Vice President of Treasury Solutions. He is responsible for the direct sales of the institutional/corporate market for unit trust products. He joined AIS on 1 June 2003. Prior to him joining the Company, he served as the Head of Treasury (Northern Region) of AMMB Holdings Berhad and later led the Bond Desk Sales and Distribution Team of AmInvestment Bank Berhad. He was one of the pioneering staff during the set-up of AmFutures Sdn Bhd and AmInternational (Labuan) Ltd. Leslie holds a Diploma in Accounting and is an Associate Member of The Institute of Chartered Secretaries and Administrators (U.K.) and also a National Member of The Financial Market Association of Malaysia. Goh Wee Peng is the Chief Investment Officer, Fixed Income and the designated person responsible for the investment management of all fixed income funds. She started her career in financial industry since 1997. She has vast experience in financial industry in different role, i.e. money broking, analyst, fixed income bond trading and fund management. In the past 6 years in AmInvestment Management Sdn Bhd, she has been managing various fixed income funds, i.e. unit trust and institutional mandate. She is responsible in overseeing the fixed income mandates and guiding a team of fund managers and credit research team. Her key role includes formulating trading and investment strategies for the team by identifying opportunities in different market trends, she presents to the clients market outlook and strategies for their portfolio on a regular basis. She also holds the Capital Markets Services Representative’s License for the regulated activity of fund management. Kevin Wong Weng Tuck is the Senior Vice President Credit Research with over 16 years of relevant experience in this field, of which 11 years have been with AIM. Kevin heads the Fixed Income Research Team of 14 personnel in conducting thorough and prudent evaluation of the credit worthiness of sovereigns, corporates, financial institutions and asset-backed securities. His research coverage now spans across 38 countries around the globe, with diligent monitoring of the economic, industry and business environments to identify and assess emerging risks as well as opportunities.

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He is also continually formulating and establishing more effective research processes and infrastructure for the Fixed Income team. Andrew Wong Yoke Leong is the Chief Investment Officer of Equities. He is responsible for all equity funds including asset allocation. His duties include formulating strategies to optimize returns for the funds within the risk framework required. Prior to his present appointment he was the Head of Investment Division (Equities and Fixed Income) at a regional insurance company. He holds a Master of Business Administration and an Engineering degree. He also holds the Capital Markets Services Representative's License for the regulated activity of fund management. MATERIAL LITIGATION As at the Latest Practicable Date, the Manager is not engaged in any material litigation and arbitration, including those pending or threatened, and any facts likely to give rise to any proceedings which might materially affect the business or financial position of the Manager and of its delegates. THE INVESTMENT MANAGER AmIslamic Funds Management Sdn Bhd AIS has appointed AIFM, a licensed fund manager approved by the SC on 13 January 2009, to implement the Fund’s investment strategy to achieve the objectives of the Fund. AIFM was established on 25 August 2008 to be a dedicated Islamic investment solutions provider to offer comprehensive and innovative range of Shariah compliant funds and provide investment management services of all Shariah compliant assets and has more than six (6) years experience in providing fund management services. AIFM is a wholly owned subsidiary of AmInvestment Group Berhad. As at Latest Practicable Date, AIFM manages 26 Shariah compliant unit trust funds and institutional accounts totalling RM6.8 billion. It has 23 employees, of which 22 are executives and 1 non-executive.

31 May 2015 Year Ended 31 March

Unaudited 2014 2013 2012

Paid up share capital (RM’000) 3,000 3,000 3,000 3,000

Shareholders’ funds (RM’000) 20,020 17,855 14,913 6,846

Turnover (RM’000)* 2,328 14,711 13,159 8,177

Pretax Profit/(Loss) (RM’000) 726 6,711 7,444 3,772

After Tax Profit/(Loss) (RM’000) 580 5,949 8,170 2,805

* Includes entry charge and Manager’s fee earned by the Manager KEY PERSONNEL OF THE INVESTMENT MANAGER Mohd Fauzi Mohd Tahir (profile as mentioned above)

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Haslinda Ibrahim is a Senior Fund Manager. She has been in the fund management industry since 1994 and has wide experience in managing equities funds as well as research. Her responsibilities include managing Shariah Compliant Equities Funds and conducting research, focusing on Indonesian equity. She holds a degree in BSc Econs (hons) in Accounting and Finance from University College of Wales, Aberystwyth, United Kingdom. She also holds the Capital Markets Services Representative’s License. DELEGATION OF FUND ACCOUNTING AND VALUATION SERVICES The Fund's valuation and fund accounting function is outsourced to Deutsche Bank (Malaysia) Berhad (DBMB). The outsourcing function was approved by the Securities Commission on 20 October 2010. DBMB will be responsible for the Fund valuation i.e. daily calculation of the NAV and NAV per unit of the Fund and the fund accounting function i.e. maintenance of financial statements and records of the Fund for the purpose of audit and preparation of annual and interim report. DBMB is a wholly-owned subsidiary of the parent organization, Deutsche Bank Aktiengesellschaft. Deutsche Bank established a presence in Kuala Lumpur, Malaysia in 1967 and was incorporated on the 22nd August 1994. DBMB commenced its domestic custody operations in Malaysia 1994 to provide direct custody services to both local and foreign clients. Domestic Custody Services Malaysia (DCS) is a dedicated business unit within Deutsche Bank, responsible for providing custody services to our global and domestic clients. In 2001, DBMB expanded its product offering to include fund administration, being the first custodian in Malaysia to offer onshore fund accounting services. THE SHARIAH ADVISER Al Rajhi Banking & Investment Corporation (Malaysia) Bhd has been appointed as the Shariah Adviser of the Fund to advise the Manager on Shariah investments and ethical issues. The Shariah Adviser is specialised jurists in fiqh almua’malat (Islamic Commercial Jurisprudence) appointed by the Manager and is also the largest Islamic bank in the world. Al Rajhi Bank ventured into the Malaysian shore after being the first Saudi bank to be awarded a full-banking license by the Bank Negara Malaysia. Malaysia marks the Group’s first foray into the international banking scene, where it aspires to introduce the Islamic Banking concept to the Asian market by providing a whole new Islamic banking experience. The Bank started its operations in Malaysia on the 16th October, 2006. Since 2005, Al Rajhi Bank has acquired seven (7) years of experience in the advisory role of unit trusts and as at the Latest Practicable Date, there are three (3) funds which Al Rajhi Bank acts as Shariah Adviser. Currently with twenty three (23) branches, fifteen (15) throughout the Klang Valley, eight (8) in Johor, Melaka, Penang, Kuching, Kota Bharu, Ipoh, Kota Kinabalu and Kuantan, two self-service kiosks in Bukit Bintang and Kompleks Antarabangsa and thirty two (32) Off-Sites Premises ATMs such as in Mydin USJ, Mydin Kubang Kerian, Angsana Mall in Johor Bahru, Plaza Hang Tuah in Melaka, Langkawi International Airport, Bukit Bintang, IKANO Power Centre in Damansara, Penang International Airport, DENCO Industrial, Plaza Mont’ Kiara, TESCO Prai, TESCO Selayang, The Gardens at Mid Valley, Bangsar Village II, Suria KLCC, One Utama, KL Sentral, Sunway Pyramid, Plaza MPK in Klang, Queensbay Mall in Penang, SACC Mall in Shah Alam, Kuala Lumpur International Airport (KLIA), Low Cost Carriage Terminal (LCCT) and Alamanda Putrajaya.

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Adhering closely to the deeply rooted Islamic banking principles, the Shariah-compliant banking group is planning to be instrumental in bridging the gap between modern financial demands and intrinsic Islamic values, to provide the ultimate in convenience to our customers spearheading numerous industry standards and development in Malaysia Leveraging on its track record and acumen in Islamic banking, Al Rajhi Bank sees its catalytic role in supporting Malaysia’s plans to evolve into a vibrant Islamic financial hub for the South East Asian region. The investment portfolio of the Fund comprises of securities which has been classified as Shariah compliant in accordance with the Shariah Investment Guidelines of the Shariah Adviser. The roles of Shariah Adviser are:- (i) To ensure that the Fund are managed and administered in accordance with Shariah

Investment Guidelines; (ii) To provide expertise and guidance in all matters relating to Shariah Investment Guidelines,

including on the Fund’s Deed and Prospectus, its structure and investment process and other operational and administrative matters;

(iii) To consult with SC where there is any ambiguity or uncertainty as to an investment, instrument, system, procedures and/or process;

(iv) To act with due care, skill and diligence in carrying out its duties and responsibilities; (v) Responsible for review of the Fund’s compliance report as provided by the compliance

officer and investment transactions reports provided by or duly approved by, the Trustee to ensure that the Fund’s investments are in line with Shariah Investment Guidelines.

(vi) To prepare a report to be included in the Fund’s interim and annual reports certifying whether the Fund has been managed and administered in accordance with Shariah Investment Guidelines for the period concerned.

The designated persons responsible and their qualification for Shariah Advisory matters of the Fund are as follows:- (i) Assoc. Prof. Dr Saleh Abdullah Al Lheidan; (ii) Assoc. Prof. Dr Azman Mohd Noor; (iii) Dr. Mohammed Hael Ghilan Al-Madhagi; and (iv) Lokmanulhakim Hussain. Assoc. Prof. Dr Saleh Abdullah Al Lheidan Dr Salleh holds a PhD and as Masters Degree in Comparative Fiqh (Islamic Law) from Imam Mohammed bin Saud Islamic University in Riyadh, Saudi Arabia. He currently serves as an Associate Professor in the High Institute of Judicature-Imam Mohammed bin Saud Islamic University in Riyadh, Saudi Arabia specializing in Comparative Fiqh, Dr Salleh is an active member in a number of research committees inside and outside of the university. He also supervises more than 40 Master and PhD thesis. He has some writings on Islamic Commercial Laws. As for his Islamic Banking Industrial experience, Dr Salleh is presently the General Manager for the Shariah Group of Al Rajhi Bank, Saudi Arabia. At the same time he serves as the Secretariat and also a member of the Shariah Board of Al Rajhi Bank, Saudi Arabia. He currently sits as the Chairman of the Shariah Board of Al Rajhi Bank Malaysia since 2007. Assoc. Prof. Dr Azman Mohd Noor Currently, he serves as a lecturer at Fiqh Department at Kulliyah of Islamic Revealed Knowledge and Human Sciences of International Islamic University, Malaysia. By education, Dr Azman bin Mohd Noor holds a PhD in Islamic Studies from the University of Edinburgh, United Kingdom. He also has Masters Degree from the International Islamic University, Malaysia and Universiti

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Kebangsaan Malaysia respectively. He is also a graduate of Islamic University of Madinah, Saudi Arabia. As for his Islamic Banking and Takaful serving history, Dr Azman has been sitting on the Shariah Board of Al Rajhi Bank Malaysia since 2006. He is also the Chairman of the Shariah Adviser Board of AmFamily Takaful since 2011. He is also a registered Shariah advisor at Securities Commission Malaysia.” Dr Mohammed Hael Ghilan Al-Madhagi Dr Mohammed Hael Ghilan Al-Madhagi currently serves as Senior Shariah Consultant (Mustashar) at Shariah Group of Al Rajhi Bank K.S.A. He obtained his degree in Islamic Law from Al-Imam Muhammad Ibn Saud Islamic University, Ras Al-Khimah, U.A.E. and his Masters degree in Comparative Jurisprudence at the Higher Judicial Institute in Riyadh, K.S.A. He further pursued his academic qualification and obtained his Ph.D in Fiqh from Al-Imam Muhammad Ibn Saud Islamic University, Riyadh, K.S.A. Prior to joining Al Rajhi Bank K.S.A in June 2006 as full time staff, Dr Muhammad served as preacher and teacher under the Ministry of Islamic Affairs Office, Ras Al-Khimah, U.A.E. (1997 - 2003) and under The Ministry of Islamic Affairs, Advocacy and Guidance in K.S.A (2002 - 2004). He also served as a lecturer at Shariah College of Al-Imam Muhammad Ibn Saud Islamic University, Ras Al-Khimah, U.A.E. (2002 - 2003). He also sits as Shariah Advisor in Shariah Board of Al Rajhi Bank Malaysia since 2011. Lokmanulhakim Hussain Lokmanulhakim Bin Hussain currently serves as a researcher at International Shari’ah Research Academy for Islamic Finance (ISRA). He obtained his first class honours in both Bachelor of Arts degree in Shariah and Master’s degree in Fiqh from the Islamic University of Medina, Kingdom of Saudi Arabia. As a researcher, he is actively involved in researches related to Islamic finance and has presented numerous research papers at various seminars and conferences. He sits as a member of Shariah Board of Al Rajhi Bank Malaysia since 2014. Meetings Held by Shariah Adviser The Manager and the Shariah Adviser meets on a quarterly basis with prior written notice given to the Shariah Adviser at least two weeks prior to the proposed meeting date. During the meetings, the Fund’s property will be reviewed by the Shariah Adviser to ensure compliance with the Shariah Investment Guidelines or any other relevant principles at all times. Proper minutes of such meetings shall be taken with attendance and all business transacted at such meetings by a secretariat appointed by the Manager and circulated to the Shariah Adviser.

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THE TRUSTEE DEUTSCHE TRUSTEES MALAYSIA BERHAD Deutsche Trustees Malaysia Berhad (“DTMB”) (Company No. 763590-H) was incorporated in Malaysia on 22 February 2007 and commenced business in May 2007. The Company is registered as a trust company under the Trust Companies Act 1949, with its business address at Level 20, Menara IMC, 8 Jalan Sultan Ismail, 50250 Kuala Lumpur. DTMB is a member of Deutsche Bank Group (“Deutsche Bank”), a global investment bank with a substantial private client franchise. With more than 100,000 employees in more than 70 countries, Deutsche Bank offers financial services throughout the world. FINANCIAL PERFORMANCE

Financial Year Ended 31 December

2014 2013 2012

Paid up share capital (RM) 3,050,000 3,050,000 3,050,000

Shareholders’ funds (RM) 6,314,678 5,275,318 4,654,993

Revenue (RM) 9,779,401 8,292,251 5,725,581

Profit/(Loss) before tax (RM) 5,009,315 4,156,392 3,066,962

Profit/(Loss) after tax (RM) 3,948,097 2,908,737 2,288,412

EXPERIENCE IN TRUSTEE BUSINESS DTMB is part of Deutsche Bank’s Institutional Cash & Securities Services, which provides trust, agency, depository, custody and related services on a range of securities and financial structures. As at 1 July 2015, DTMB is the trustee for 202 collective investment schemes including unit trust funds, wholesale funds, exchange-traded funds and private retirement schemes. DTMB’s trustee services are supported by Deutsche Bank (Malaysia) Berhad (“DBMB”), a subsidiary of Deutsche Bank, financially and for various functions, including but not limited to financial control and internal audit.

BOARD OF DIRECTORS Jacqueline William Janet Choi Jalalullail Othman* Lew Lup Seong* * independent director Chief Executive Officer Richard Lim

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DUTIES AND RESPONSIBILITIES OF THE TRUSTEE DTMB’s main functions are to act as trustee and custodian of the assets of the Fund and to safeguard the interests of Unit holders of the Fund. In performing these functions, the Trustee has to exercise due care and vigilance and is required to act in accordance with the relevant provisions of the Deed, the Capital Markets & Services Act 2007 and all relevant laws. TRUSTEE’S STATEMENT OF RESPONSIBILITY The Trustee has given its willingness to assume the position as trustee of the Fund and is willing to assume all its obligations in accordance with the Deed, the Capital Markets & Services Act 2007 and all relevant laws. In respect of monies paid by an investor for the application of units, the Trustee’s responsibility arises when the monies are received in the relevant account of the Trustee for the Fund and in respect of redemption, the Trustee’s responsibility is discharged once it has paid the redemption amount to the Manager. TRUSTEE’S DISCLOSURE OF MATERIAL LITIGATION As at 1 July 2015, neither the Trustee nor its delegate is (a) engaged in any material litigation and arbitration, including those pending or threatened, nor (b) aware of any facts likely to give rise to any proceedings which might materially affect the business/financial position of the Trustee and any of its delegate. TRUSTEE’S DELEGATE (CUSTODIAN) The Trustee has appointed DBMB as the custodian of the assets of the Fund. DBMB is a wholly-owned subsidiary of Deutsche Bank AG. DBMB offers its clients access to a growing domestic custody network that covers over 30 markets globally and a unique combination of local expertise backed by the resources of a global bank. In its capacity as the appointed custodian, DBMB’s roles encompass safekeeping of assets of the Fund; trade settlement management; corporate actions notification and processing; securities holding and cash flow reporting; and income collection and processing. All investments of the Fund are registered in the name of the Trustee for the Fund, or where the custodial function is delegated, in the name of the custodian to the order of the Trustee for the Fund. As custodian, DBMB shall act only in accordance with instructions from the Trustee. DISCLOSURE ON RELATED-PARTY TRANSATIONS/CONFLICT OF INTERESTS As the Trustee for the Funds, there may be related party transactions involving or in connection with the Funds in the following events: (1) Where the Fund invests in the products offered by Deutsche Bank AG and any of its

group companies (e.g. money market placement, etc.); (2) Where the Fund has obtained financing from Deutsche Bank AG and any of its group

companies, as permitted under the Securities Commission’s guidelines and other applicable laws;

(3) Where the Manager appoints DBMB and/or DTMB to perform its back office functions

(e.g. fund accounting and valuation and/or registrar and transfer agent); and (4) Where DTMB has delegated its custodian functions for the Fund to DBMB.

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DTMB will rely on the Manager to ensure that any related party transactions, dealings, investments and appointments are on terms which are the best that are reasonably available for or to the Fund and are on an arm’s length basis as if between independent parties. While DTMB has internal policies intended to prevent or manage conflicts of interests, no assurance is given that their application will necessarily prevent or mitigate conflicts of interests. DTMB's commitment to act in the best interests of the unit holders of the Fund does not preclude the possibility of related party transactions or conflicts.

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EXEMPTIONS FROM THE SC GUIDELINES ON UNIT TRUST FUNDS We have also obtained the SC’s approval for the exemption below from the Guidelines on Unit Trust Funds for Namaa’ Asia-Pacific Equity Growth: Schedule A – Appendix III (4) A management company, or its fund management delegate, must ensure that –

(b) the collective investment scheme is managed by another management company or a foreign operator.

Exemption Sought The Fund to be allowed to invest into the Target Fund which is also managed by the Manager. Rationale We seek to establish a Target Fund and Feeder Fund structure for this fund mandate. The Target Fund would be managed by AIS under the purview of the Malaysian International

Islamic Financial Centre initiative (MIFC) and based in USD. The Fund (feeder fund) would be managed by AIS and offered in Malaysian Ringgit for

Malaysian investors. This should allow for funds management efficiency as the asset manager would only focus in

managing the performance of the Target Fund. There would be no double charging of management fee.

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APPROVALS AND CONDITIONS AM-NAMAA’ ASIA-PACIFIC EQUITY GROWTH AND NAMAA’ ASIA-PACIFIC EQUITY GROWTH Bank Negara Malaysia on the 23 April 2008 have granted the approvals to issue the Am-Namaa’ Asia-Pacific Equity Growth and Namaa’ Asia-Pacific Equity Growth (hereinafter referred as the “Master Fund”) to Malaysian residents and non-resident clients in Malaysia, subject to the following conditions: (a) The conversion of ringgit into foreign currency in the Master Fund for the purposes of

investment abroad is undertaken with licensed onshore banks; (b) The settlement of investment by the non-resident investors in ringgit is to be undertaken

onshore; and (c) The guideline and requirement of other relevant authorities in Malaysia are complied with. AM-MATEEN ASIA-PACIFIC EQUITY Bank Negara Malaysia on the 2 December 2010 have granted the approvals to issue the Am-Mateen Asia Pacific Equity fund in Malaysia provided that: (a) AIS ensures that investments by its resident investors into the Fund through conversion of

ringgit complies with the foreign exchange administration rules on investment in foreign currency assets;

(b) Any conversion of currency by AIS and its resident clients must be undertaken only with

licensed onshore banks in Malaysia; (c) The Fund does not involve trading of ringgit or ringgit financial instruments offshore, or lead to

speculation on the ringgit; and (d) AIS complies with all guidelines issued by all other relevant authorities as well as written laws

in Malaysia.

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TAXATION 10 June 2015 The Board of Directors AmInvestment Services Berhad 9th Floor, Bangunan AmBank Group No.55, Jalan Raja Chulan 50200 Kuala Lumpur Dear Sirs Taxation of the Fund and Unit Holders Am-Namaa’ Asia-Pacific Equity Growth Namaa’ Asia-Pacific Equity Growth Am-Mateen Asia-Pacific Equity 1. This letter has been prepared for inclusion in the Prospectus dated 11th August 2015 (“the

Prospectus”) in connection with the offer of units in Am-Namaa’ Asia-Pacific Equity Growth, Namaa’ Asia-Pacific Equity Growth and Am-Mateen Asia-Pacific Equity (individually hereinafter referred to as “the Fund”).

The following is general information based on Malaysian tax law in force at the time of

lodging the Prospectus with the Securities Commission Malaysia (“SC”) and investors should be aware that the tax law may be changed at any time. To an extent, the application of tax law depends upon an investor’s individual circumstances. The information provided below does not constitute tax advice. The Manager therefore recommends that an investor consult his accountant or tax adviser on questions about his individual tax position.

2. Taxation of the Fund 2.1 Income Tax

As the Fund’s Trustee is resident in Malaysia, the Fund is regarded as resident in Malaysia. The taxation of the Fund is governed principally by Sections 61 and 63B of the Malaysian Income Tax Act, 1967 (“MITA”). Pursuant to the Section 2(7) of MITA, any reference to interest shall apply, mutatis mutandis, to gains or profits received and expenses incurred, in lieu of interest, in transaction conducted in accordance with the principles of Shariah. The effect of this is that any gains or profits received and expenses incurred, in lieu of interest, in transactions conducted in accordance with the principles of Shariah, will be accorded the same tax treatment as if they were interest.

The income of the Fund in respect of dividends, interest or profits from deposits and other investment income (other than income which is exempt from tax) derived from or accruing in Malaysia is liable to income tax. The Fund may be receiving income such as exit fee which will be subject to tax at the prevailing tax rate applicable on the Fund. Gains on disposal of investments by the Fund will not be subject to income tax.

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The income tax rate applicable to the Fund is 25%. It has been gazetted in the Finance (No.2) Act 2014 on 30th December 2014 that with effect from year of assessment 2016, the income tax rate applicable to the Fund would be reduced to 24%.

Tax exempt interest as listed in the Appendix attached received by the Fund are not subject to income tax. With effect from 1st January 2014, Malaysia has fully moved to a single-tier income tax system. The Fund is not liable to tax on any Malaysian sourced dividends paid, credited or distributed to the Fund under the single tier tax system, where the company paying such dividend is not entitled to deduct tax under the MITA. The tax deductibility of expenses incurred by the Fund against such dividend income will be disregarded. The Fund may receive Malaysian dividends which are tax exempt from investments in companies which had previously enjoyed or are currently enjoying the various tax incentives provided under the law. The Fund is not subject to income tax on such tax exempt dividend income. The Fund may also receive dividends, profits and other income from investments outside Malaysia. Income derived from sources outside Malaysia and received in Malaysia by a resident unit trust is exempted from Malaysian income tax. However, such income may be subject to foreign tax in the country from which the income is derived. Discount or profit received from the sale of bonds or securities issued by Pengurusan Danaharta Nasional Berhad or Danaharta Urus Sendirian Berhad within and outside Malaysia is exempted from the payment of income tax pursuant to Income Tax Exemption (No. 6) Order 2003. Income received by the Fund from Sukuk Ijarah, other than convertible loan stock, issued in any currency by 1Malaysia Sukuk Global Berhad and Sukuk Issue which has been issued by the Malaysia Global Sukuk Inc is exempted from the payment of income tax. Income derived from Sukuk Kijang is exempted from the payment of income tax pursuant to Income Tax (Exemption) Order 2013. For the purpose of this order, “Sukuk Kijang” means the Islamic Securities of nominal value of up to two hundred and fifty million United States dollars (USD$250,000,000) issued or to be issued in accordance with the Shariah principle of Ijarah by BNM Kijang Berhad. The tax treatment of hedging instruments would depend on the particular hedging instruments entered into. Generally, any gain or loss relating to the principal portion will be treated as capital gain or loss. Gains or losses relating to the income portion would normally be treated as revenue gains or losses. The gain or loss on revaluation will only be taxed or claimed upon realisation. Any gain or loss on foreign exchange is treated as capital gain or loss if it arises from the revaluation of the principal portion of the investment. Generally, income from distribution from Malaysia Real Estate Investment Trusts will be received net of withholding tax of 10%. No further tax will be payable by the Fund on the distribution. Distribution from such income by the Fund will also not be subject to further tax in the hands of the Unit Holders.

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Expenses being manager’s remuneration, maintenance of register of Unit Holders, share registration expenses, secretarial, audit and accounting fees, telephone charges, printing and stationery costs and postage, which are not allowed under the general deduction rules, qualify for a special deduction, subject to a minimum of 10% and a maximum of 25% of such expenses pursuant to Section 63B of the MITA.

2.2 Gains on Disposal of Investments

Gains on disposal of investments by the Fund will not be subject to income tax but where the investments represent shares in real property companies, such gains may be subject to Real Property Gains Tax (“RPGT”) under the RPGT Act, 1976. A real property company is a controlled company which owns or acquires real properties or shares in real property companies with a market value of not less than 75% of its total tangible assets. A controlled company is a company which does not have more than 50 members and is controlled by not more than 5 persons.

2.3 Goods and Service Tax (“GST”)

GST will be implemented in Malaysia at 6% standard rate effective 1st April 2015. GST will replace the current sales and service tax regime.

If it is determined that the Fund is required to register for GST, any fees it charges to Unit Holders will be subject to GST at 6%.

The issuance of units by the Fund to investors will be exempted from GST. To the extent that the Fund invests in any financial services products (e.g. securities, derivatives, units in a fund or unit trust), the acquisition of these interests will be exempted from GST. To the extent that fees are charged to the Fund in relation to these products, these fees would be subject to 6% GST.

The GST paid on acquisitions made by the Fund (e.g. fund manager fees, trustee fees etc.) would either unrecoverable in whole or in part and would be subject to further analysis to determine the extent that GST can be recovered.

3. Taxation of Unit Holders 3.1 Taxable Distribution

Unit Holders will be taxed on an amount equivalent to their share of the total taxable income of the Fund to the extent such income is distributed to them. Unit Holders are also liable to pay income tax on the taxable income distributions paid by the Fund. Taxable distributions carry a tax credit in respect of the tax chargeable on that part of the Fund. Unit Holders will be subject to tax on an amount equal to the net taxable distribution plus attributable underlying tax paid by the Fund.

…4/-

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Income distributed to Unit Holders is generally taxable as follows in Malaysia:-

Unit Holders Malaysian Tax Rates for Year of Assessment

2015

Malaysian Tax Rates with effect from Year of

Assessment 2016 Malaysian tax residents: Individual and non-corporate

Unit Holders Co-operative societies Trust bodies Corporate Unit Holders i. A company with paid up capital

in respect of ordinary shares of not more than RM2.5 million where the paid up capital in respect of ordinary shares of other companies within the same group as such company is not more than RM2.5 million (at the beginning of the basis period for a year of assessment)

ii. Companies other than those in

(i) above Non-Malaysian tax residents: Individual and non-corporate

Unit Holders Corporate Unit Holders and trust

bodies

Progressive tax rates

ranging from 0% to 25%

Progressive tax rates

ranging from 0% to 24%

25% 20% for every first

RM500,000 of chargeable income

25% for chargeable

income in excess of RM500,000

25% 25%

25%

24% 19% for every first

RM500,000 of chargeable income

24% for chargeable

income in excess of RM500,000

24% 24%

The tax credit that is attributable to the income distributed to the Unit Holders will be available for set off against tax payable by the Unit Holders. There is no withholding tax on taxable distributions made to non-resident Unit Holders. Non-resident Unit Holders may also be subject to tax in their respective jurisdictions and depending on the provisions of the relevant tax legislation and any double tax treaties with Malaysia, the Malaysian tax suffered may be creditable in the foreign tax jurisdictions.

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3.2 Tax Exempt Distribution Tax exempt distributions made out of gains from realisation of investments and other exempt income earned by the Fund will not be subject to Malaysian tax in the hands of Unit Holders, whether individual or corporate, resident or non-resident. All Unit Holders do not pay tax on that portion of their income distribution from the Fund’s distribution equalisation account.

3.3 Distribution Voucher To help complete a Unit Holder’s tax returns, the Manager will send the Unit Holder a distribution voucher as and when distributions are made. This sets out the various components of the income distributed and the amount of attributable income tax already paid by the Fund.

3.4 Sale, Transfer or Redemption of Units

Any gains realised by a Unit Holder on the sale, transfer or redemption of his units are generally tax-free capital gains unless the Unit Holder is an insurance company, a financial institution or a person trading or dealing in securities. Generally, the gains realised by these categories of Unit Holders constitute business income on which tax is chargeable.

3.5 Reinvestment of Distribution

Unit Holders who receive their income distribution by way of investment in the form of the purchase of new units will be deemed to have received their income distribution after tax and reinvested that amount in the Fund.

3.6 Unit Splits

Unit splits issued by the Fund are not taxable in the hands of the Unit Holders. 3.7 GST

The Unit Holders should not be subject to GST on the following:- withdrawal / redemption from the Fund income distribution from the Fund

However, any fee-based charges related to buying, transferring and switching of units charged to the Unit Holders should be subjected to GST at the standard rate of 6%.

Yours faithfully Yee Wing Peng Managing Director

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Appendix Tax Exempt Interest Income of Unit Trusts 1. Interest or discount paid or credited to unit trusts in respect of the following will be exempt from

tax :-

Securities or bonds issued or guaranteed by the government; or Debentures or Islamic securities, other than convertible loan stock, approved by the

Securities Commission Malaysia; or Bon Simpanan Malaysia issued by the Central Bank of Malaysia.

2. Interest derived from Malaysia and paid or credited by any bank or financial institution licensed

under the Banking and Financial Institutions Act 1989 (BAFIA) or the Islamic Banking Act, 1983 (IBA) or any development financial institution regulated under the Development Financial Institutions Act, 2002 (DFIA). The BAFIA and the IBA have been repealed with the coming into force of the Financial Services Act, 2013 and Islamic Financial Services Act, 2013 on 30th June 2013. No amendment has been made to the Income Tax Act, 1967 to reflect the above.

3. Interest income derived from bonds, other than convertible loan stocks, paid or credited by any

company listed in Malaysia Exchange of Securities Dealing and Automated Quotation Berhad (“MESDAQ”) (now known as Bursa Malaysia Securities Berhad ACE Market).

4. Interest received in respect of bonds and securities issued by Pengurusan Danaharta Nasional

Berhad within and outside Malaysia. 5. Interest in respect of any savings certificates issued by the government. 6. Interest in respect of Islamic securities originating from Malaysia, other than convertible loan

stock, issued in any currency other than RM and approved by the Securities Commission Malaysia or Labuan Financial Services Authority.

7. Gains or profits in lieu of interest from the Sukuk Wakala in accordance with the principle of

Wakala Bil Istithmar, other than a convertible loan stock, issued in any currency by Wakala Global Sukuk Berhad.

8. Gains or profits in lieu of interest from the Sukuk Wakala with the nominal value up to one

billion and five hundred million United States Dollar (USD1,500,000,000.00) in accordance with the principle of Wakala Bil Istithmar, other than a convertible loan stock issued by the Malaysia Sovereign Sukuk Berhad.

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CONSENT The following parties have given their written consent and have not withdrawn their consent to the inclusion in this Prospectus of their names and reports (if any) in the form and context in which their names appear: Deloitte Tax Services Sdn Bhd AmIslamic Funds Management Sdn Bhd Deutsche Trustees Malaysia Berhad Deutsche Bank (Malaysia) Berhad Al Rajhi Banking & Investment Corporation (Malaysia) Berhad Ernst & Young

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DIRECTORY Head Office 9th & 10th Floor, Bangunan AmBank Group 55, Jalan Raja Chulan, 50200 Kuala Lumpur Tel: (03) 2032 2888 Facsimile: (03) 2031 5210 Email: [email protected] Postal Address AmInvestment Services Berhad P.O Box 13611, 50816 Kuala Lumpur

Institutional Unit Trust Adviser

Al Rajhi Banking & Investment Corporation (Malaysia) Berhad Company No. 719057-X Head Office Ground Floor, East Block, Wisma Selangor Dredging 142-B, Jalan Ampang, 50450 Kuala Lumpur Tel: (03) 2301 7000 Facsimile: (03) 2170 7100 Website: www.alrajhibank.com.my AmBank (M) Berhad Company No. 8515-D Head Office 22nd Floor, Bangunan AmBank Group 55 Jalan Raja Chulan, 50200 Kuala Lumpur For more details on the list of IUTAs, please contact the Manager.

For enquiries about this or any of the other Funds offered by AmInvestment Services Berhad, please call 2032 2888 between 8.45 a.m. to 5.45 p.m. (Monday - Thursday),

Friday (8.45 a.m. to 5.00 p.m.)


http://www.alrajhibank.com.my

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AmInvestment Services Berhad*

*With effect from 10 September 2015, AmInvestment Services Berhad will be known as AmFunds Management Berhad.

(154432-A)

Tel : 03-2032 2888Fax : 03-2031 5210

Email : [email protected]

The following is a sample of the application form intended for viewing and informational purposes only. To make an application,

investors are advised to obtain the original copies of the application form at the addresses mentioned at the last page of

the prospectus.

SAMPLE

Am-Namaa’ Asia-Pacific Equity Growth Namaa’ …...Am-Namaa’ Asia-Pacific Equity Growth...

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