Semi Annual Report and Unaudited Financial …...Semi Annual Report and Unaudited Financial...

Fund Name Investment Objectives Risk Category Launch Date Current Fund Size

Mgmt Fee Benchmark Index Performance bid-bid basis Fund Manager Sub-Manager3 mths 6 mths 1 year 3 years

(Annualised)5 years

(Annualised)10 years

(Annualised)Since inception

(Total return)Since inception

(Annualised)

NON-EQUITYGreatLink Cash Fund To generate a return comparable to S$ time deposits. Lower Risk / Broadly

Diversified26-Apr-96 $37.57 mil 0.30% p.a. 1 month SIBID 0.31 0.54 0.93 1.00 0.84 0.76 36.53 1.41 Lion Global Investors Ltd -

GreatLink Short Duration Bond Fund

To provide total return of capital growth and income over the medium to long term, through an actively managed portfolio of Singapore and international bonds, high quality interest rate securities, real estate investment trusts (“REITs”), business trusts

Low to Medium Risk / Narrowly Focused

25-Mar-02 $113.13 mil 0.50% p.a. 12-month SIBOR less 0.25% 0.07 -0.64 0.29 1.91 2.16 2.57 46.53 2.38 Lion Global Investors Ltd -

GreatLink Global Bond Fund

To achieve excess return relative to the index while minimising volatility of return relative to the index.

Low to Medium Risk / Broadly Diversified

15-Jan-02 $270.00 mil 0.85% p.a. Barclays Global Aggregate Bond Index 50% Hedged into SGD

0.50 0.00 0.19 3.05 2.55 3.77 69.68 3.27 Lion Global Investors Ltd PIMCO

ASIAN EQUITYGreatLink Asia High Dividend Equity Fund

To provide long term capital growth by investing primarily in equities or equity-linked securities (including, but not limited to, preference shares, real estate investment trusts, depository receipts) of companies in the Asia Pacific (ex Japan) region th

Higher Risk / Narrowly Focused

10-Jul-00 $38.07 mil 1.50% p.a. MSCI AC Asia Pacific ex Japan Index

-2.01 -3.73 7.13 1.19 5.20 0.67 12.45 0.66 Lion Global Investors Ltd -

GreatLink Asia Pacific Equity Fund

To achievemedium to long-term capital growth from a diversified portfolio of Asian-Pacific equities excluding Japanese equities.


26-Apr-96 $567.82 mil 1.50% p.a. MSCI AC Asia Pacific ex Japan Index (Gross)

-1.50 -3.14 3.36 4.68 4.34 1.48 156.11 4.33 Aberdeen Asset Management Asia Ltd

-

GreatLink Far East Ex Japan Equities Fund

To maximise capital growth through investing primarily in equities of companies based in China, Hong Kong, Indonesia, South Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand, and also in other Asia Pacific regions except Japan.


25-Mar-02 $59.30 mil 1.50% p.a. MSCI AC Far East Ex Japan Index with Net Dividends Reinvested


GreatLink ASEAN Growth Fund

To achieve long-term capital appreciation by investing in equities in the economies of the ASEAN region.


26-Apr-96 $255.36 mil 1.50% p.a. MSCI AC ASEAN Index with Net Dividends Reinvested


GreatLink Lion Japan Growth Fund

To provide long-term capital growth of assets by investing primarily in quoted or listed securities in any Recognised Stock Exchange or OTC market in Japan.


9-Jan-07 $10.86 mil 1.50% p.a. TOPIX Total Return Index, in SGD-Hedged terms

0.51 -4.73 11.92 4.74 8.46 3.22 3.79 0.32 Lion Global Investors Ltd -

GreatLink China Growth Fund

To provide capital growth by investing in equities of People's Republic of China, Hong Kong SAR and Taiwan companies.


9-Jan-07 $188.45 mil 1.50% p.a. MSCI Golden Dragon Index with Net Dividends Reinvested

2.13 3.32 16.54 7.19 12.11 5.22 66.84 4.56 Schroder InvestmentManagement Ltd

-

GreatLink Lion India Fund

To achieve medium to long-term capital appreciation by investing in Indian equities and equity related instruments.


9-Jan-07 $79.74 mil 1.50% p.a. MSCI India with Net Dividends Reinvested, in SGD terms


GreatLink Singapore Equities Fund

To achieve medium to long-term capital growth from a portfolio of Singapore equities.


25-Mar-02 $154.10 mil 1.50% p.a. Straits Times Index -7.01 -4.50 2.39 3.47 2.99 2.34 134.63 5.38 Aberdeen Asset Management Asia Ltd

-

GreatLink Lion Vietnam Fund

To achieve medium to long-term capital appreciation by investing in Vietnam. The Fund will invest in companies listed in Vietnam and other companies listed elsewhere that have operations in, or derive part of their revenue from Vietnam and the Indo-China


1-Feb-08 $12.07 mil 1.50% p.a. FTSE Vietnam Index -8.99 3.24 34.39 16.74 15.37 4.42% -6.21 -0.61 Lion Global Investors Ltd -

GREATLINK FUNDS SUMMARY as at 30 June 2018

For disclaimer, please refer to page 6.

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Semi Annual Report and Unaudited Financial Statements for the period 1 January 2018 - 30 June 2018

The Great Eastern Life Assurance Company Limited (Registration No. 1908 00011G)

1 Pickering Street #01-01 Great Eastern Centre Singapore 048659



(Annualised)5 years




(Annualised)

GREATLINK LIFESTYLE PORTFOLIOSGreatLink Lifestyle Dynamic Portfolio

To achieve medium to long term capital appreciation for the investor Higher Risk / Broadly Diversified

25-Mar-02 $31.86 mil 1.58% p.a. Composite of Underlying Funds' Benchmarks


GreatLink Lifestyle Progressive Portfolio




GreatLink Lifestyle Balanced Portfolio

To achieve medium to long term capital appreciation for the investor Medium to High Risk / Broadly Diversified



GreatLink Lifestyle Steady Portfolio




GreatLink Lifestyle Secure Portfolio




BALANCEDGreatLink Global Supreme Fund

To maximise total returns in S$ terms over the longer term by investing in a balanced but diversified portfolio of equities and debt securities of the major stock & bond markets around the world.

Medium to High Risk / Broadly Diversified

1-Jul-99 $371.02 mil 1.35% p.a. 50% MSCI World Net & 50% Citigroup World Gov Bond Index (unhedged)

2.44 1.61 5.19 5.23 6.31 4.48 85.68 3.31 Lion Global Investors Ltd Equity: Acadian Asset Management,

Capital Group, INTECH,Fixed Income: Brandywine,

PIMCO

GreatLink Global Optimum Fund

To provide long-term total return in excess of the custom benchmark while managing the overall risk of the portfolio.


23-May-01 $31.38 mil 1.35% p.a. 40% MSCI World, net & 60% Citigroup World Government Bond Index (unhedged)

1.11 -0.16 2.98 4.10 5.31 2.32 34.56 1.75 Lion Global Investors Ltd Equity:AllianceBernstein (Singapore) LtdFixed Income:

Loomis, Sayles & Company, L.P.

GreatLink Income Focus Fund

To provide regular income and long term capital growth by investing primarily in a portfolio of income generating securities globally.

Higher Risk / Broadly Diversified

24-Jul-07 $30.74 mil 1.35% p.a. Composite of Underlying Funds' Benchmark

-1.18 -3.11 0.85 3.04 3.64 1.14% 0.96 0.09 JPMorgan Asset Management (Europe) S.à r.l.

-

GreatLink Lion Asian Balanced Fund

To provide long-term total returns consistently in excess of the custom benchmark while managing the overall risk of the portfolio by investing into the equity markets of Asia Pacific (ex Japan) as well as primarily in bonds and other debt securities deno

Medium to High Risk / Narrowly Focused

1-Feb-08 $59.85 mil 1.35% p.a. 50% MSCI AC Asia Pacific ex Japan Index (Gross) + 50% JP Morgan Singapore Government Bond Index

-1.08 -2.66 1.11 3.62 3.47 2.15% 15.37 1.38 Lion Global Investors Ltd Aberdeen Asset Management Asia Ltd

GLOBAL EQUITYGreatLink Global Equity Fund

To seek long-term capital appreciation by investing primarily in a diversified portfolio of common stocks globally.


1-Aug-00 $69.81 mil 1.60% p.a. MSCI World Index with Net Dividends Reinvested

6.28 3.98 12.97 11.08 13.58 6.59 26.53 1.32 Goldman Sachs (Singapore) Pte. Ltd.

-

GreatLink Global Opportunities Fund

To provide long-term total return from an internationally diversified portfolio of securities through investing all or substantially all of its assets in the Aberdeen Global - World Equity Fund, which will invest at least two-thirds of its assets in equit


25-Mar-02 $101.52 mil 1.60% p.a. MSCI World Index with Gross Dividends Reinvested

2.09 -2.09 2.45 3.97 5.06 2.42 23.26 1.29 Aberdeen AssetManagement Asia Ltd

-

GreatLink Thematic Research Portfolio

To seek long-term growth of capital by investing all or substantially into Luxembourg-registered AB SICAV I - Thematic Research Portfolio


15-Aug-01 $21.88 mil 1.60% p.a. MSCI AC World Index 4.01 1.51 10.53 8.24 11.31 2.54 55.79 2.66 AllianceBernstein (Singapore) Ltd. -

GreatLink Global Equity Alpha Fund

To provide capital growth primarily through investment in equity securities and equity related securities of companies worldwide


25-Mar-02 $108.35 mil 1.60% p.a. MSCI World Index with Net Dividends Reinvested


-

GreatLink European Equity Fund

To achieve long-term capital growth and income through investment primarily in listed equity, of issuers domiciled and/or having their principal place of business in European countries.


10-Jul-00 $19.15 mil 1.60% p.a. MSCI Europe Index, with Net Dividends Reinvested

0.37 -1.55 1.41 2.10 7.51 2.48 13.37 0.70 Capital Group -

GreatLink Global Technology Fund

To achieve long-term capital growth through investment in global technology stocks.


15-Jan-01 $119.58 mil 1.60% p.a. MSCI AC World IT Free with Net Dividends Reinvested

6.94 9.50 22.44 17.45 22.23 12.70 29.79 1.51 Lion Global Investors Ltd Wellington Management Singapore Pte Ltd

GreatLink Global Real Estate Securities Fund

To provide investors with medium to long term capital appreciation and to make regular income distributions by investing globally in (a) equities securities of companies that derive a substantial part of their revenue from the ownership, management and/or


8-Jun-05 $303.22 mil 1.60% p.a. FTSE EPRA/NAREIT Developed Index Net TRI

8.86 1.93 4.05 4.38 6.61 4.82 56.54 3.49 Lion Global Investors Ltd PGIM Inc

GreatLink Global Emerging Markets Equity Fund

To achieve long-term capital growth through investment principally in areas experiencing rapid economic growth which include countries in Latin America, Emerging Asia, Africa, Eastern Europe (including Russia) and the Middle East.


23-Jan-13 $120.53 mil 1.60% p.a. MSCI Emerging Markets Free Net of Luxembourg Tax Index

-5.39 -5.83 7.35 5.77 8.22% - 46.43 7.27 FIL Fund Management Limited


Message 1

Investment Outlook 2

Announcement 4

Disclaimer 6

Lifestyle Portfolios 7

Balanced 13

Global Equity 17

Asian Equity 25

Non-Equity 34

Funds Information 38

Soft Dollar Commissions 99

Capital Account 102

Statement Of Assets & Liabilities 107

Notes To The Accounts 112

Printed by Ngai Heng Pte Ltd

The Great Eastern Life Assurance Company Limited (Reg. No. 1908 00011G)

1 Pickering Street #01-01 Great Eastern Centre Singapore 048659www.greateasternlife.com

contentsc o n t e n t s




(Annualised)5 years




(Annualised)






















-

















To provide capital growth by investing in equities of People's Republic of China, Hong Kong SAR and Taiwan companies.




-










-


To achieve medium to long-term capital appreciation by investing in Vietnam. The Fund will invest in companies listed in Vietnam and other companies listed elsewhere that have operations in, or derive part of their revenue from Vietnam and the Indo-China





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(Annualised)5 years




(Annualised)

GREATLINK LIFESTYLE PORTFOLIOSGreatLink Lifestyle Dynamic Portfolio




















BALANCEDGreatLink Global Supreme Fund

To maximise total returns in S$ terms over the longer term by investing in a balanced but diversified portfolio of equities and debt securities of the major stock & bond markets around the world.


1-Jul-99 $371.02 mil 1.35% p.a. 50% MSCI World Net & 50% Citigroup World Gov Bond Index (unhedged)

2.44 1.61 5.19 5.23 6.31 4.48 85.68 3.31 Lion Global Investors Ltd Equity: Acadian Asset Management,

Capital Group, INTECH,Fixed Income: Brandywine,

PIMCO

GreatLink Global Optimum Fund

To provide long-term total return in excess of the custom benchmark while managing the overall risk of the portfolio.


23-May-01 $31.38 mil 1.35% p.a. 40% MSCI World, net & 60% Citigroup World Government Bond Index (unhedged)

1.11 -0.16 2.98 4.10 5.31 2.32 34.56 1.75 Lion Global Investors Ltd Equity:AllianceBernstein (Singapore) LtdFixed Income:

Loomis, Sayles & Company, L.P.

GreatLink Income Focus Fund

To provide regular income and long term capital growth by investing primarily in a portfolio of income generating securities globally.


24-Jul-07 $30.74 mil 1.35% p.a. Composite of Underlying Funds' Benchmark

-1.18 -3.11 0.85 3.04 3.64 1.14% 0.96 0.09 JPMorgan Asset Management (Europe) S.à r.l.

-

GreatLink Lion Asian Balanced Fund

To provide long-term total returns consistently in excess of the custom benchmark while managing the overall risk of the portfolio by investing into the equity markets of Asia Pacific (ex Japan) as well as primarily in bonds and other debt securities deno

Medium to High Risk / Narrowly Focused

1-Feb-08 $59.85 mil 1.35% p.a. 50% MSCI AC Asia Pacific ex Japan Index (Gross) + 50% JP Morgan Singapore Government Bond Index

-1.08 -2.66 1.11 3.62 3.47 2.15% 15.37 1.38 Lion Global Investors Ltd Aberdeen Asset Management Asia Ltd

GLOBAL EQUITYGreatLink Global Equity Fund

To seek long-term capital appreciation by investing primarily in a diversified portfolio of common stocks globally.


1-Aug-00 $69.81 mil 1.60% p.a. MSCI World Index with Net Dividends Reinvested

6.28 3.98 12.97 11.08 13.58 6.59 26.53 1.32 Goldman Sachs (Singapore) Pte. Ltd.

-


To provide long-term total return from an internationally diversified portfolio of securities through investing all or substantially all of its assets in the Aberdeen Global - World Equity Fund, which will invest at least two-thirds of its assets in equit


25-Mar-02 $101.52 mil 1.60% p.a. MSCI World Index with Gross Dividends Reinvested

2.09 -2.09 2.45 3.97 5.06 2.42 23.26 1.29 Aberdeen AssetManagement Asia Ltd

-

GreatLink Thematic Research Portfolio

To seek long-term growth of capital by investing all or substantially into Luxembourg-registered AB SICAV I - Thematic Research Portfolio


15-Aug-01 $21.88 mil 1.60% p.a. MSCI AC World Index 4.01 1.51 10.53 8.24 11.31 2.54 55.79 2.66 AllianceBernstein (Singapore) Ltd. -


To provide capital growth primarily through investment in equity securities and equity related securities of companies worldwide


25-Mar-02 $108.35 mil 1.60% p.a. MSCI World Index with Net Dividends Reinvested


-

GreatLink European Equity Fund

To achieve long-term capital growth and income through investment primarily in listed equity, of issuers domiciled and/or having their principal place of business in European countries.


10-Jul-00 $19.15 mil 1.60% p.a. MSCI Europe Index, with Net Dividends Reinvested

0.37 -1.55 1.41 2.10 7.51 2.48 13.37 0.70 Capital Group -

GreatLink Global Technology Fund

To achieve long-term capital growth through investment in global technology stocks.


15-Jan-01 $119.58 mil 1.60% p.a. MSCI AC World IT Free with Net Dividends Reinvested

6.94 9.50 22.44 17.45 22.23 12.70 29.79 1.51 Lion Global Investors Ltd Wellington Management Singapore Pte Ltd


To provide investors with medium to long term capital appreciation and to make regular income distributions by investing globally in (a) equities securities of companies that derive a substantial part of their revenue from the ownership, management and/or


8-Jun-05 $303.22 mil 1.60% p.a. FTSE EPRA/NAREIT Developed Index Net TRI

8.86 1.93 4.05 4.38 6.61 4.82 56.54 3.49 Lion Global Investors Ltd PGIM Inc


To achieve long-term capital growth through investment principally in areas experiencing rapid economic growth which include countries in Latin America, Emerging Asia, Africa, Eastern Europe (including Russia) and the Middle East.


23-Jan-13 $120.53 mil 1.60% p.a. MSCI Emerging Markets Free Net of Luxembourg Tax Index

-5.39 -5.83 7.35 5.77 8.22% - 46.43 7.27 FIL Fund Management Limited


Message 1

Investment Outlook 2

Announcement 4

Disclaimer 6

Lifestyle Portfolios 7

Balanced 13

Global Equity 17

Asian Equity 25

Non-Equity 34

Funds Information 38

Soft Dollar Commissions 99

Capital Account 102

Statement Of Assets & Liabilities 107

Notes To The Accounts 112

Printed by Ngai Heng Pte Ltd

The Great Eastern Life Assurance Company Limited (Reg. No. 1908 00011G)

1 Pickering Street #01-01 Great Eastern Centre Singapore 048659www.greateasternlife.com

contentsc o n t e n t s


1

MESSAGE

Mess

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While 2017 ended with strong economic data and positive sentiments, the headline news during the first half of 2018 have been predominantly occupied with trade tensions around the world. Rising oil prices and interest rates were other headwinds faced by the global economy. Most equity markets ended the first half of 2018 in the red except for the US.

Despite the challenges, our GreatLink global equities strategies, which focus on growth companies, and the GreatLink China Growth Fund, have delivered positive returns.Notably, the GreatLink Global Technology Fund gained 9.5%1 during the first six months of the year.

As Great Eastern celebrates our 110th anniversary this year, we thank you for your continued support and for choosing us as your trusted insurer. We remain committed to optimise your returns to help you achieve your financial goals.

Yours sincerely

Khor Hock SengGroup Chief Executive OfficerGreat Eastern Holdings

1Source: Morningstar. Performance figures are calculated on a bid-to-bid basis, with all dividends and distributions reinvested, taking into account all charges which would have been payable upon such reinvestment.

Please refer to page 3 for disclaimers.

2

Investment OutlookThe optimistic sentiment that started 2018 has turned cautious amid a host of fears. Most prominently, the trade-war tango between the US and China has left much of the world bewildered by the pace of twists and turns. While growth data remains sturdy across US and Europe, this has been offset by slowing momentum in Japan, China and Asia Pacific markets. With politics taking the spotlight away from central bank policies, investors will need to navigate an environment increasingly fraught with uncertainties. Although investors are risk-aware and mindful of the negative catalysts in the market, the environment presents opportunities for security selection, which includes taking advantage of short-term weakness to acquire quality assets at bargain prices.

USWhile announced trade tariffs are expected to have little immediate impact on US economic growth, prolonged trade tensions may dent business confidence and delay capital expenditure. Offsetting this is the likely continuation of strong business spending and recovery in consumer spending, supported by fiscal stimulus and full employment. The impact of Fed normalising interest rates and balance sheet remains modest and continues to be data dependent – a third rate increase is likely in September 2018, with the door open for a fourth increase in December 2018. For the second half of 2018, the US market outlook seems better than other regions given the strong earnings growth and share buybacks.

EuropeEconomic expansion in the euro area remains on track. Recent weakness in data and indicators is attributed to a temporary decline in foreign demand and the lagging impact of EUR appreciation in 2017. Private consumption is supported by employment gains from labour market reform and rising household wealth. Monetary conditions are supportive; while the European Central Bank has decided to end quantitative easing, they have also signalled key interest rates will remain stable through 1H 2019. However, rising US protectionism remains a key risk to Europe’s growth outlook.

JapanThe Japanese stock market has seen a clear shift away from cyclical sectors to defensive sectors in the past few months and the divergence in performance is reaching historically highly-stretched levels. Nevertheless, with the global trade conflict at the forefront of the investment climate, investors are likely to remain in risk-off mode and seek shelter in defensive themes.

Asia Pacific ex JapanThe positive economic momentum since 2017 has been interrupted, with leading indicators suggesting a peak together with news of downward guidance in corporate earnings growth. As the cycle slows, there is less scope for profit

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INVESTMENT OUTLOOK

3

margins and revenues to surprise positively. However, corporate earnings are still expected to continue growing albeit at more moderate paces, supported by sturdy businesses and favourable macro fundamentals. Nevertheless, four main risks pose headwinds to sentiment: trade protectionism, rising oil prices, increasing bond yields and strong USD. Of the four, trade tensions are most severe and impactful for export-dependent Asia. The sense is trade sentiment may improve in the fourth quarter of 2018 and thus on a longer term perspective, the third quarter may be an ideal time to position portfolios with that time frame in mind.

ConclusionWhile risk aversion has dampened sentiment, it has not derailed growth. There are opportunities for investors who remain focused on fundamentals and long-term growth prospects. Undeterred by short-term uncertainty, investors can continue to monitor markets closely for new developments and seek opportunities to invest into high quality assets at distressed prices. Maintaining a well-diversified portfolio can help investors to navigate this current uncertain environment and achieve their long term investment objectives.

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INVESTMENT OUTLOOK

All data from Bloomberg as at 30 June 2018 unless otherwise stated.

Disclaimer: The report is accurate at time of writing on 30 June 2018. Past performance is not necessarily indicative of future performances. Any opinion or view presented is subject to change without notice. The document is intended for information purposes only, and is not intended as an offer or solicitation for the purchase or sale of any financial instrument.

The information provided may contain projections or other forward looking statements regarding future events or future financial performance of countries, markets or companies, and such prediction or forecast is not necessarily indicative of the future or likely performance of the fund.

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ANNOUNCEMENT

1) Change of name to fund manager and underlying funds

Following the completion of the merger between Aberdeen Asset Management PLC and Standard Life plc and as part of the re-branding exercise, there will be a change to the fund names of the Aberdeen Select Portfolio range, effective 3 September 2018.

The name of the fund manager for three ILP Sub-Funds will also be changed from “Aberdeen Asset Management Asia Limited” to “Aberdeen Standard Investments (Asia) Limited” effective 3 September 2018, subject to regulatory approval being obtained. In the event that regulatory approval is not obtained for their proposed company name change, the new effective date shall be updated on www.aberdeen-asia.com.The investment objectives of the ILP Sub-Funds remain the same.

2) Change of investment objective to GreatLink Short Duration Bond Fund

The GreatLink Short Duration Bond Fund (the “ILP Sub-Fund”) invests all or substantially into the LionGlobal Short Duration Bond Fund (“Underlying Fund”) managed by Lion Global Investors Limited (“the Manager”). The investment objective of the ILP Sub-Fund will be amended to delete references to real estate investment trusts (“REITs”) and business trusts effective 1 October 2018.

The amendment of the investment objective of the ILP Sub-Fund will:

(i) better reflect the instruments which the Underlying Fund invests in, since the Underlying Fund has not and will not invest in REITs and business trusts; and

(ii) not bring about any substantive change in practice given that there has been no investment in REITs and business trusts by the Underlying Fund since its inception nor any intention to do so in the future.

ILP Sub-Fund Name Current Underlying Fund NameNew Underlying Fund Name

(effective 3 September 2018)

GreatLink Asia Pacific Equity Fund Aberdeen Pacific Equity FundAberdeen Standard Pacific Equity Fund


Aberdeen Global Opportunities Fund

Aberdeen Standard Global Opportunities Fund


Aberdeen Singapore Equity FundAberdeen Standard Singapore Equity Fund

5

ANNOUNCEMENT

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EXISTING EFFECTIVE 1 OCTOBER 2018Investment Objective

To provide total return of capital growth and income over the medium to long term, through an actively managed portfolio of Singapore and international bonds, high quality interest rate securities, real estate investment trusts (“REITs”), business trusts and other related securities. There is no target industry or sector.

While the fund will generally invest in bonds with investment grade quality, the fund may nonetheless also invest or expose to sub-investment grade securities.

To provide total return of capital growth and income over the medium to long term, through an actively managed portfolio of Singapore and international bonds, high quality interest rate securities and other related securities. There is no target industry or sector.

While the fund will generally invest in bonds with investment grade quality, the fund may nonetheless also invest or expose to sub-investment grade securities.

The GreatLink Short Duration Bond Fund is one of the component funds in GreatLink Lifestyle Secure Portfolio, GreatLink Lifestyle Steady Portfolio and GreatLink Lifestyle Balanced Portfolio. There is no change to the investment objective of all the GreatLink Lifestyle Portfolios which is to achieve medium to long term capital appreciation.

The above changes will not affect the existing investments and investors can continue to stay invested in the fund(s).

This disclaimer applies to the fund factsheets that follow.DISCLAIMER: The fact sheets on GreatLink Funds are compiled by The Great Eastern Life Assurance Company Limited (GELS). The information presented is for informational use only. A product summary and a Product Highlights Sheet in relation to the Funds may be obtained through GELS or its Financial Representatives. Potential investors should read the product summary and the Product Highlights Sheet before deciding whether to invest in the Funds. Returns on the units of the Funds are not guaranteed. The value of the units in the Funds and the income accruing to the units, if any, may fall or rise. The fees and charges payable through deduction of premium or cancellation of units are excluded in the calculation of fund returns. Past returns, and any other economic or market predictions, projections or forecasts, are not necessarily indicative of future or likely performance.

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Inception Date 25 March 2002Dealing Frequency DailyFund Currency SGDBid Offer Spread 5.0%Fund Manager Lion Global Investors LtdFund Management Fee^ Dynamic 1.58% p.a. Progressive 1.43% p.a. Balanced 1.27% p.a. Steady 1.10% p.a. Secure 0.92% p.a.Benchmark Composite of Constituent Funds’ Benchmarks

^ These are weighted average fund management charge which could be used as an indicative fund management charge for theLifestyle Portfolios.

GREATLINK LIFESTYLE PORTFOLIOS (ASSET ALLOCATION)GreatLink Constituent Funds Secure Steady Balanced Progressive DynamicGreatLink Short Duration Bond Fund 20% 10% 5% 0% 0%GreatLink Global Bond Fund 60% 50% 35% 20% 0%GreatLink Global Equity Alpha Fund 5% 10% 15% 20% 25%GreatLink Global Opportunities Fund 5% 10% 15% 20% 25%GreatLink Asia Pacific Equity Fund 10% 20% 15% 20% 25%GreatLink Global Emerging Markets Equity Fun 0% 0% 15% 20% 25%

Source: Great Eastern Life

FUND OBJECTIVE

The investment objectives of the 5 Lifestyle Portfolios are to achieve medium to long term capital appreciation for the investor. The investment policies for the GreatLink Lifestyle Secure Portfolio, GreatLink Lifestyle Steady Portfolio, GreatLink Lifestyle Balanced Portfolio, and GreatLink Lifestyle Progressive Portfolio are to invest the assets of each of these Lifestyle Portfolios in equities and bonds in the proportion of approximately 20:80, 40:60, 60:40, 80:20 respectively. The investment policy for GreatLink Lifestyle Dynamic Portfolio is to invest the assets only in equities (or in one or more different mutual fund(s) and unit trust(s) reflecting an underlying investment in equities). A separate portfolio account is maintained for each Lifestyle Portfolio which is invested in accordance with the investment objective applicable to the Lifestyle Portfolio to which such portfolio relates.

Each individual Lifestyle Portfolio is invested in some of the underlying GreatLink Funds as shown in the table below. However, the asset proportion may vary, depending on market conditions.

GREATLINK LIFESTYLE PORTFOLIOS report as at 30 June 2018

FUND FACTS

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Offer Price SGD 1.555 Bid Price SGD 1.477Bid Offer Spread 5.0%Fund Size SGD 31.9 mRisk Category Higher Risk –

Broadly Diversified Subscription Mode Cash, SRS & CPFIS – OA

DYNAMIC

PERFORMANCE ON BID–BID BASIS (%)3 mths 6 mths 1 year 3 years* 5 years* 10 years* Since Inception*

GreatLink Lifestyle Dynamic Portfolio -0.14% -2.51% 5.73% 5.44% 6.56% 2.39% 2.75%

Benchmark 1.90% -0.41% 9.23% 8.21% 10.23% 5.94% 5.57%

Source: Morningstar. Performance figures are calculated on a bid-bid basis, with all dividends and distributions reinvested, taking into account all charges which would have been payable upon such reinvestment. * Performance figures longer than 1 year are annualized.

PORTFOLIO WEIGHTINGS


FUND FACTS

PORTFOLIO PERFORMANCE SINCE INCEPTION


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Global Equities, 75.9% Asia Pacific Ex-Japan

Equities, 24.1%

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GreatLink Lifestyle Progressive Portfolio -0.06% -2.07% 4.55% 4.91% 5.75% 3.18% 3.65%

Benchmark 1.63% -0.25% 7.54% 7.24% 8.89% 5.79% 5.62%



Offer Price SGD 1.791 Bid Price SGD 1.701Bid Offer Spread 5.0%Fund Size SGD 93.5 mRisk Category Higher Risk –


PROGRESSIVE

PORTFOLIO WEIGHTINGSFUND FACTS



Global Bonds, 19.0% Global Equities, 61.4% Asia Pacific Ex-Japan

Equities, 19.6%

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BALANCED




Offer Price SGD 1.779 Bid Price SGD 1.690Bid Offer Spread 5.0%Fund Size SGD 417.3 mRisk Category Medium to High Risk –


& SA


GreatLink Lifestyle Balanced Portfolio 0.12% -1.57% 3.55% 4.81% 5.18% 3.36% 3.60%

Benchmark 1.35% -0.10% 5.87% 6.12% 7.39% 5.11% 4.95%



Equities, 14.9% Investment Grade Bonds

and REITs, 4.8%


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STEADY


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GreatLink Lifestyle Steady Portfolio 0.62% -0.80% 1.95% 4.16% 4.08% 3.38% 3.32%

Benchmark 1.55% 0.31% 4.35% 5.15% 6.04% 4.44% 4.26%




& SA



and REITs, 9.9%


12

Lifes

tyle P

ortfo

lios

SECURE






& SA


GreatLink Lifestyle Secure Portfolio 0.48% -0.53% 1.08% 3.22% 3.16% 3.62% 3.59%

Benchmark 1.02% 0.32% 2.63% 3.80% 4.29% 3.71% 3.79%




and REITs, 19.9%


13

GREATLINK GLOBAL SUPREME FUND report as at 30 June 2018

Inception Date 1 July 1999Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OA & SARisk Category Medium to High Risk – Broadly

DiversifiedBenchmark 50% MSCI World Net &

50% Citigroup World Gov Bond Index (unhedged)

Offer Price SGD 1.857Bid Price SGD 1.764Bid Offer Spread 5.0%Fund Size SGD 371.0 mFund Manager Lion Global Investors LtdSub Managers Equity:

Acadian Asset Management, Capital Group, INTECH

Fixed Income: Brandywine, PIMCO

Fund Management Fee 1.35% p.a.


FUND FACTS FUND OBJECTIVE

The Fund's objective is to maximize total returns in Singapore Dollar terms over the longer term by investing in a balanced but diversified portfolio of equities and debt securities of the major stock markets and bond markets around the world. It shall invest in a broad mix of global equities and bonds in a wide range of industries and companies in various countries. The allocation for each asset class will be actively managed and altered constantly in such a way that seeks to maximize the overall risk-adjusted performance of the Fund. The Fund’s asset allocation split is 50% global equities and 50% global bonds.

Balan

ced F

undsPERFORMANCE ON BID–BID BASIS (%)

3 mths 6 mths 1 year 3 years* 5 years* 10 years* Since Inception*

GreatLink Global Supreme Fund 2.44% 1.61% 5.19% 5.23% 6.31% 4.48% 3.31%

Benchmark 3.12% 1.83% 5.46% 6.23% 7.12% 4.49% 3.59%



United States, 41.1% Europe ex-UK, 29.9% Cash & Cash Equivalents,

11.2% Japan, 7.9% United Kingdom, 6.6% Asia Pacific Ex-Japan,

5.5% Other, -2.2%


14

Balan

ced F

unds

^Benchmark: 40% MSCI World, gross & 60% Citigroup World Government Bond Index, unhedged from launch till 14 May 2007, 40% MSCI World, net & 60% Citigroup World Government Bond Index, unhedged with effect from 15 May 2007.

GREATLINK GLOBAL OPTIMUM FUND report as at 30 June 2018


FUND FACTS


FUND OBJECTIVE

The Fund's objective is to provide long-term total return in excess of the custom benchmark while managing the overall risk of the portfolio. The Fund shall invest in a broad mix of global equities and bonds in a wide range of industries and companies in various countries. The allocation for each asset class will be managed in such a way that seeks to maximize the overall risk-adjusted performance of the Fund. The Fund is 40% invested in global equities which invest into AB FCP I – Global Equity Blend Portfolio managed by AllianceBernstein (Singapore) Ltd, and 60% in global bonds managed by Loomis, Sayles & Company, L.P.

Inception Date 23 May 2001Dealing Frequency DailyFund Currency SGDSubscription Mode Cash & SRSRisk Category Medium to High Risk – Broadly

DiversifiedBenchmark 40% MSCI World, net & 60%

Citigroup World Government Bond Index (unhedged)^

Offer Price SGD 1.345Bid Price SGD 1.277Bid Offer Spread 5.0%Fund Size SGD 31.4 mFund Manager Lion Global Investors LtdSub Managers Equity:

AllianceBernstein (Singapore) Ltd Fixed Income: Loomis, Sayles & Company, L.P.

Fund Management Fee 1.35% p.a.


GreatLink Global Optimum Fund 1.11% -0.16% 2.98% 4.10% 5.31% 2.32% 1.75%

Benchmark ^ 2.59% 1.69% 4.55% 5.65% 6.22% 4.05% 3.66%


AllianceBernstein Global Equity Fund, 40.2%

North America, 19.6% Europe ex-UK, 18.2% Japan, 10.8% United Kingdom, 4.6% Asia Pacific Ex-Japan,

4.2% Cash & Cash Equivalents,

1.7% Other, 0.7%


15

PORTFOLIO WEIGHTINGS#

# Information refers to 50% of JPMorgan Investment Funds - Global Income Fund and 50% of JPMorgan Funds – Asia Pacific Income Fund. *JPMorgan Asset Management imposes a 30-day embargo on their holdings, hence there is a 1-month lag.

+ Since inception to 30 April 2014: benchmark was 12-month Singapore Interbank Bid Rate + 2.5%. From 1 May 2014 to 15 October 2014: benchmark was 12-month Singapore Inter-Bank Offer Rate (SIBOR) + 2.25%. Effective 16 October 2014, the benchmark is the new composite benchmark.

^ Composite benchmark comprises of ‘Barclays US High Yield 2% Issuer Cap Index (Total Return Gross) hedged to SGD, MSCI World Index (Total Return Net) hedged to SGD, Barclays Global Credit Index (Total Return Gross) hedged to SGD, MSCI All Country Asia Pacific ex Japan Index (Total Return Net), J.P.Morgan Asia Credit Index (Total Return Gross)’.

GREATLINK INCOME FOCUS FUND report as at 30 June 2018

FUND FACTS FUND OBJECTIVEThe Fund aims to provide regular income and long term capital growth by investing primarily in a portfolio of income generating securities globally. This Fund invests all or substantially into JPMorgan Investment Funds - Global Income Fund (SGD-Hedged) and JPM Funds – Asia Pacific Income Fund (SGD-Hedged) (“Underlying Funds”), both managed by JPMorgan Asset Management (Europe) S.à r.l.


Balan

ced F

unds

Inception Date 24 July 2007Dealing Frequency DailyFund Currency SGDSubscription Mode Cash & SRSRisk Category Higher Risk - Broadly

DiversifiedBenchmark Composite of Underlying Funds'

Benchmark^+

Fund Management Fee 1.35% p.a.Offer Price SGD 0.869Bid Price SGD 0.825Bid Offer Spread 5.0%Fund Size SGD 30.7 mFund Manager JPMorgan Asset Management

(Europe) S.à r.l.Underlying Funds JPMorgan Investment Funds(Fund Size) - Global Income Fund (USD 29,435.5m) JPMorgan Funds - Asia Pacific

Income Fund (USD 2,749.1m)

PERFORMANCE ON BID–BID BASIS (%)3 mths 6 mths 1 year 3 years* 5 years* 10 years* Since Inception* Since Restructuring*

GreatLink Income Focus Fund -1.18% -3.11% 0.85% 3.04% 3.64% 1.14% 0.09% 4.25%

Benchmark -0.60% -1.88% 4.25% 5.77% 5.22% 4.11% 4.11% 6.10%


Equities, 44.6% High Yield Bonds, 23.5% Investment Grade Bonds, 9.4% Preferred Equity, 4.7% Cash, 4.7% US Agency Mortgages, 3.9% REITs, 3.4% Emerging Markets Debt, 2.7% Non Agency Mortgages, 2.1%

Convertible Bonds, 1.0%


16

Balan

ced F

unds

# Information refers to Aberdeen Pacific Equity Fund and LionGlobal Singapore Fixed Income Investment.

^ Since inception to 30 June 2013: Benchmark was 50% MSCI All Countries Asia Pacific ex Japan Index (Net) + 50% JP Morgan Singapore Government Bond Index. Effective 1 July 2013, the benchmark is 50% MSCI All Countries Asia Pacific ex Japan Index (Gross) + 50% JP Morgan Singapore Government Bond Index.

GREATLINK LION ASIAN BALANCED FUND report as at 30 June 2018




The Fund aims to provide long-term total returns consistently in excess of the custom benchmark while managing the overall risk of the portfolio by investing into the equity markets of Asia Pacific (ex Japan) as well as primarily in bonds and other debt securities denominated in Singapore Dollars, through the Aberdeen Pacific Equity Fund and the LionGlobal Singapore Fixed Income Investment respectively.

Inception Date 1 February 2008Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS, CPFIS – OA & SARisk Category Medium to High Risk – Narrowly

FocusedFund Management Fee 1.35% p.a.Benchmark 50% MSCI AC Asia Pacific

Ex-Japan Index (Gross) + 50% JP Morgan Singapore Government Bond Index^

Offer Price SGD 1.154Bid Price SGD 1.096Bid Offer Spread 5.0%Fund Size SGD 59.9 mFund Manager Lion Global Investors LtdSub-Manager Aberdeen Asset Management Asia

Limited Underlying Equity Fund (Fund Size)

Aberdeen Pacific Equity Fund(SGD 1.5 b)

Underlying Bond Fund (Fund Size)

LionGlobal Singapore Fixed Income Investment (SGD 96.0 m)


GreatLink Lion Asian Balanced Fund -1.08% -2.66% 1.11% 3.62% 3.47% 2.15% 1.38%

Benchmark -0.05% -1.82% 3.86% 5.19% 5.75% 4.53% 3.65%


Equities, 50.3% Fixed Income, 49.7%


17

GREATLINK GLOBAL EQUITY FUND report as at 30 June 2018



The Fund's objective is to seek long-term capital appreciation by investing primarily in a diversified portfolio of common stocks globally.


Glob

al Eq

uity

Inception Date 1 August 2000Dealing Frequency DailyFund Currency SGDSubscription Mode Cash & SRSRisk Category Higher Risk – Broadly

DiversifiedBenchmark MSCI World Index with Net

Dividends ReinvestedOffer Price SGD 1.266Bid Price SGD 1.202Bid Offer Spread 5.0%Fund Size SGD 69.8 mFund Manager Goldman Sachs (Singapore)

Pte. Ltd.Fund Management Fee 1.60% p.a.


GreatLink Global Equity Fund 6.28% 3.98% 12.97% 11.08% 13.58% 6.59% 1.32%

Benchmark 5.78% 2.47% 10.01% 8.93% 11.54% 6.30% 3.09%


North America, 69.4% Japan, 11.5% Europe ex-UK, 10.6% Asia Pacific Ex-Japan,

4.3% United Kingdom, 3.0% Cash & Cash Equivalents,

1.7% Other, -0.4%


18

Glob

al Eq

uity

# Fund is registered under the restricted foreign scheme in Singapore.^ Benchmark: MSCI World Index with Net Dividends Reinvested from launch till 22 Nov 2010, MSCI World Index, gross

dividends reinvested w.e.f. 23 Nov 2010

GREATLINK GLOBAL OPPORTUNITIES FUND report as at 30 June 2018



FUND FACTS FUND OBJECTIVE The Fund invests all or substantially all into the SGD share class of the Aberdeen Global Opportunities Fund (“Underlying Fund”) managed by Aberdeen Asset Management Asia Limited. The Underlying Fund aims to provide long-term total return from an internationally diversified portfolio of securities through investing all or substantially all of its assets in the Aberdeen Global – World Equity Fund# (“underlying fund component”), a subfund of Luxembourg-registered Aberdeen Global, which will invest at least two-thirds of its assets in equities or equity-related securities. The country of domicile of the Underlying Fund is Singapore and its base currency is Singapore dollars.


GreatLink Global Opportunities Fund 2.09% -2.09% 2.45% 3.97% 5.06% 2.42% 1.29%

Benchmark 5.99% 2.80% 10.61% 9.55% 12.16% 6.76% 5.01%

Source: Morningstar. Performance figures are calculated on a bid-bid basis, with all dividends and distributions reinvested, taking into account all charges which would have been payable upon such reinvestment. *Performance figures longer than 1 year are annualized.

Inception Date 25 March 2002Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OARisk Category Higher Risk – Broadly DiversifiedBenchmark MSCI World Index with Gross

Dividends Reinvested^Fund Management Fee 1.60% p.a.Offer Price SGD 1.233Bid Price SGD 1.171Bid Offer Spread 5.0%Fund Size SGD 101.5 mUnderlying Fund Size SGD 180.9mUnderlying Fund Aberdeen Global Opportunities

Fund Fund Manager Aberdeen Asset Management

Asia Ltd

North America, 33.1% Asia, 19.5% Europe ex-UK, 14.7% United Kingdom, 13.6% Japan, 10.4% Latin America, 4.2% Middle East, 2.1% Africa, 0.9% Cash, 1.6%


19

GREATLINK THEMATIC RESEARCH PORTFOLIO report as at 30 June 2018


FUND FACTS FUND OBJECTIVE The investment objective of the Fund is to seek long-term growth of capital. It invests all or substantially into Luxembourg-registered AB SICAV I - Thematic Research Portfolio (“Underlying Fund”), managed by AllianceBernstein L.P. The country of domicile of the Underlying Fund is Luxembourg.


Glob

al Eq

uityPERFORMANCE ON BID–BID BASIS (%)


GreatLink Thematic Research Portfolio 4.01% 1.51% 10.53% 8.24% 11.31% 2.54% 2.66%

Benchmark 4.54% 1.59% 9.65% 8.84% 11.49% 6.27% 4.54%


Inception Date 15 August, 2001Dealing Frequency DailyFund Currency SGDSubscription Mode Cash & SRSRisk Category Higher Risk - Broadly DiversifiedBenchmark MSCI AC World Index^Fund Management Fee 1.60% p.a.Offer Price SGD 1.558Bid Price SGD 1.480Bid Offer Spread 5.0%Fund Size SGD 21.9 mUnderlying Fund Size USD 828.88 mUnderlying Fund AB SICAV I - Thematic Research

PortfolioFund Manager AllianceBernstein (Singapore) Ltd.

United States, 51.2% India, 6.8% France, 6.7% Switzerland, 5.2% China, 4.7% Ireland, 4.4% Germany, 4.0% Hong Kong, 2.2% Indonesia, 2.1% Other, 12.6%


^ Effective 28 October 2016, GreatLink Global Growth Trends Portfolio has been restructured to GreatLink Thematic Research Portfolio. Accordingly, the benchmark has also been changed from the MSCI World Index (with Net Dividends Reinvested) to the MSCI AC World Index.

20

Glob

al Eq

uity

^ Benchmark: MSCI World Index, gross dividends reinvested from launch till 14 May 2007, MSCI World Index, net dividends reinvested wef 15 May 2007.

GREATLINK GLOBAL EQUITY ALPHA FUND report as at 30 June 2018


FUND FACTS


FUND OBJECTIVE

The Fund invests all or substantially into the USD share class of the Schroder International Selection Fund Global Equity Alpha* (“Underlying Fund”) managed by Schroder Investment Management Limited. The fund objective is to provide capital growth primarily through investment in equity and equity related securities of companies worldwide. In order to achieve the objective, Schroder Investment Management Limited will invest in a select portfolio of securities, which it believes offer the best potential for future growth. The country of domicile of the Underlying Fund is Luxembourg and its base currency is the US Dollar.


GreatLink Global Equity Alpha Fund 4.92% 1.32% 9.31% 6.98% 9.06% 2.13% 1.19%

Benchmark 5.78% 2.47% 10.01% 8.93% 11.54% 6.30% 4.91%


Inception Date 25 March 2002Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OARisk Category Higher Risk - Broadly DiversifiedBenchmark MSCI World Index with Net

Dividends Reinvested^Fund Management Fee 1.60% p.a.Offer Price SGD 1.212Bid Price SGD 1.151Bid Offer Spread 5.0%Fund Size SGD 108.3 mUnderlying Fund Size USD 1163.1 mUnderlying Fund Schroder International Selection

Fund - Global Equity AlphaFund Manager Schroder Investment Management

Ltd ('Schroders')

Americas, 65.8% Europe ex-UK/Middle

East, 17.3% Emerging Markets, 4.8% Japan, 4.5% United Kingdom, 3.7% Pacific Ex-Japan, 1.6% Liquid Assets, 2.2%


21

GREATLINK GLOBAL EMERGING MARKETS EQUITY FUND report as at 30 June 2018

FUND FACTS


FUND OBJECTIVE

The Fund invests principally in areas experiencing rapid economic growth including countries in Latin America, Emerging Asia, Africa, Eastern Europe (including Russia) and the Middle East. This ILP Sub-Fund invests all or substantially into the Fidelity Funds - Emerging Markets Fund (SR-ACC-SGD) managed by FIL Fund Management Limited. The country of domicile of the Underlying Fund is Luxembourg.


Glob

al Eq

uity

PERFORMANCE ON BID–BID BASIS (%)3 mths 6 mths 1 year 3 years* 5 years* Since Inception*

GreatLink Global Emerging MarketsEquity Fund

-5.39% -5.83% 7.35% 5.77% 8.22% 7.27%

Benchmark -4.30% -4.76% 7.15% 6.04% 6.55% 4.26%


Inception Date 23 January 2013Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OARisk Category Higher Risk – Narrowly FocusedBenchmark MSCI Emerging Markets Free Net

of Luxembourg Tax IndexFund Management Fee 1.60% p.a.Offer Price SGD 1.462Bid Price SGD 1.388Bid Offer Spread 5.0%Fund Size SGD 120.5 mUnderlying Fund Size SGD 8,535 mUnderlying Fund Fidelity Funds – Emerging

Markets FundFund Manager FIL Fund Management Limited

('Fidelity')

China, 24.3% South Africa, 10.2% India, 10.1% Hong Kong, 9.1% Taiwan, 8.1% Russia, 9.1% Korea (South), 8.2% Taiwan, 6.7% United Kingdom, 3.2% Indonesia, 2.2%

Mexico, 2.1% Other Countries, 7.1% Cash, 7.7%


# Information refers to Fidelity Funds – Emerging Markets Fund SR-ACC-SGD

22

Glob

al Eq

uity

GREATLINK EUROPEAN EQUITY FUND report as at 30 June 2018



The Fund aims for long-term capital growth and income through investment primarily in listed equity, of issuers domiciled and/or having their principal place of business in European countries. Preservation of capital is also a priority. The Fund shall invest substantially into Capital Group European Growth and Income Fund (LUX)(“Underlying Fund”) managed by Capital Group through its member, Capital Research and Management Company (CRMC). The country of domicile of the Underlying Fund is Luxembourg.


GreatLink European Equity Fund 0.37% -1.55% 1.41% 2.10% 7.51% 2.48% 0.70%

Benchmark 2.66% -1.27% 4.26% 4.66% 7.76% 2.40% 2.15%


Inception Date 10 July 2000Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OARisk Category Higher Risk – Narrowly FocusedBenchmark MSCI Europe Index with Net

Dividends ReinvestedFund Management Fee 1.60% p.a.Offer Price SGD 1.134Bid Price SGD 1.077Bid Offer Spread 5.0%Fund Size SGD 19.2 mUnderlying Fund Size SGD 785.3 mUnderlying Fund Capital Group European Growth

and Income Fund (LUX)Fund Manager Capital Group


United Kingdom, 29.0% France, 17.8% Others, 13.4% Spain, 12.0% Switzerland, 7.1% Germany, 6.6% Finland, 3.9% Ireland, 3.8% Cash & Equivalents, 3.5% Italy, 2.9%


# Information refers to Capital Group European Growth and Income Fund (LUX)

23

GREATLINK GLOBAL TECHNOLOGY FUND report as at 30 June 2018


The objective of the Fund is to achieve long-term capital growth through investment in global technology stocks. It offers exposure to the rapidly growing adoption of technology across economies worldwide. Specifically, it aims to achieve high returns by investing in technology companies as well as in a range of industries where the growth opportunities have been impacted by technological developments.


Glob

al Eq

uityPERFORMANCE ON BID–BID BASIS (%)


GreatLink Global Technology Fund 6.94% 9.50% 22.44% 17.45% 22.23% 12.70% 1.51%

Benchmark 7.99% 9.33% 24.89% 20.49% 21.36% 12.16% 3.32%


Inception Date 15 January 2001Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OARisk Category Higher Risk – Narrowly FocusedBenchmark MSCI AC World IT Free with Net

Dividends Reinvested^Fund Management Fee 1.60% p.a.Offer Price SGD 1.298Bid Price SGD 1.233Bid Offer Spread 5.0%Fund Size SGD 119.6 mFund Manager Lion Global Investors LtdSub Manager Wellington International

Management Company Pte Ltd


Software & Services, 53.8%

Semiconductors & Semiconductor Equipment, 23.5%

Technology Hardware & Equipment, 11.9%

Retailing, 3.9% Commercial & Professional

Services, 2.9% Cash & Cash Equivalents,

1.7% Capital Goods, 1.3% Other, 1.0%


^ Benchmark: MSCI World IT Index from launch till 28 Feb 2003, MSCI AC World IT Gross index wef 1 Mar 2003 & MSCI AC World IT Free, Net Index wef 1 Nov 06.

24


North America, 54.1% Asia Pacific Ex-Japan,

17.0% Europe ex-UK, 13.5% Japan, 10.5% United Kingdom, 4.3% Cash & Cash Equivalents,

0.5% Other, 0.2%

# Benchmark was changed on 1 October 2016 from S&P Citigroup BMI World Property Index, Net Total Return Index to FTSE EPRA/NAREIT Developed Index Net TRI.

GREATLINK GLOBAL REAL ESTATE SECURITIES FUND report as at 30 June 2018

FUND FACTS FUND OBJECTIVE The investment objective of the Fund is to seek to provide investors with medium to long term capital appreciation and to make regular income distributions by investing globally in (a) equity securities of companies that derive a substantial part of their revenue from the ownership, management and/or development of real estate and (b) Real Estate Investment Trusts (REITs) listed or traded in a regulated market.

Glob

al Eq

uity

Inception Date 8 June 2005Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OARisk Category Higher Risk – Narrowly FocusedBenchmark FTSE EPRA/NAREIT Developed

Index Net TRI#

Fund Management Fee 1.60% p.a.Offer Price SGD 0.945Bid Price SGD 0.897Bid Offer Spread 5.0%Fund Size SGD 303.2 mFund Manager Lion Global Investors LtdSub Manager PGIM Inc





8.86% 1.93% 4.05% 4.38% 6.61% 4.82% 3.49%

Benchmark 9.30% 2.39% 4.62% 6.02% 7.68% 5.19% 3.94%


25

Asian

Equit

y

GREATLINK ASIA HIGH DIVIDEND EQUITY FUND report as at 30 June 2018

FUND FACTS


FUND OBJECTIVE

This Fund constituted in Singapore aims to provide long term capital growth by investing primarily in equities or equity-linked securities (including, but not limited to, preference shares, real estate investment trusts, depository receipts) of companies in the Asia Pacific (ex Japan) region that offer attractive dividend yields and sustainable dividend payments.

PERFORMANCE ON BID–BID BASIS (%)3 mths 6 mths 1 year 3 years* 5 years* 10 years* Since Inception* Since Restructuring*

GreatLink Asia High Dividend Equity Fund

-2.01% -3.73% 7.13% 1.19% 5.20% 0.67% 0.66% 2.74%

Benchmark 0.24% -2.22% 8.51% 7.68% 9.28% 4.65% 2.79% 7.76%


Inception Date 10 July 2000Dealing Frequency DailyFund Currency SGDSubscription Mode Cash & SRSRisk Category Higher Risk – Narrowly FocusedBenchmark MSCI AC Asia Pacific Ex-Japan

Index^Fund Management Fee 1.50% p.a.Offer Price SGD 0.985Bid Price SGD 0.935Bid Offer Spread 5.0%Fund Size SGD 38.1 mUnderlying Fund Size SGD 77.1 mUnderlying Fund LGlobal Funds – Asia High

Dividend Equity FundFund Manager Lion Global Investors Ltd

China, 27.3% Australia, 17.0% Taiwan, 14.4% Korea, South, 11.8% Cash Equivalent, 6.8% Hong Kong, 6.5% Singapore, 6.1% Thailand, 3.6% India, 3.6% Malaysia, 2.9%


# Information refers to LGlobal Funds - Asia High Dividend Equity March 2018 Fund^ MSCI AC Asia Pacific Index from launch till 31 Oct 2001, MSCI AC Asia Pacific (Free) Index wef 1 Nov 2001 (subsequently

named MSCI AC Asia Pacific Index on 30 Jan 2004). With effect from 13 July 2015, the benchmark is changed to MSCI AC Asia Pacific ex Japan Index.


26

Asia

Pacifi

c Equ

ity


China/Hong Kong, 35.7% India, 13.5% Singapore, 13.1% South Korea, 9.7% Australia, 6.4% Taiwan, 5.2% Indonesia, 4.8% Philippines, 3.7% Thailand, 2.9% Malaysia, 1.9%

United Kingdom, 1.2% Sri Lanka, 0.3% Cash, 1.7%

# Information refers to Aberdeen Pacific Equity Fund1 Aberdeen Global – Indian Equity Fund is offered in Singapore as a restricted foreign scheme.^ The benchmark was changed in January 1999 from the DBS CPF index to the MSCI All Country Asia Pacific Free ex Japan

(Net). Effective 1 July 2013, benchmark is MSCI All Countries Asia Pacific ex Japan (Gross).

GREATLINK ASIA PACIFIC EQUITY FUND report as at 30 June 2018

FUND FACTS FUND OBJECTIVE The ILP Sub-Fund aims to provide holders with medium to long-term capital growth from a diversified portfolio of Asian-Pacific equities excluding Japanese equities and as a feeder fund to invest in the equity-based Asia Pacific sub-funds of the Aberdeen Select Portfolio, namely the Aberdeen China Opportunities Fund, the Aberdeen Indonesia Equity Fund, the Aberdeen Malaysian Equity Fund, the Aberdeen Singapore Equity Fund and the Aberdeen Thailand Equity Fund, and invests up to 10% of its deposited property in the Aberdeen Global – Indian Equity Fund1, a sub-fund of the Luxembourg-registered Aberdeen Global. Aberdeen Pacific Equity Fund (“Underlying Fund”) is managed by Aberdeen Asset Management Asia Limited, its country of domicile is Singapore and base currency is Singapore dollars.

Inception Date 26 April 1996Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OARisk Category Higher Risk – Narrowly FocusedBenchmark MSCI AC Asia Pacific Ex-Japan

Index (Gross)^Fund Management Fee 1.50% p.a.Offer Price SGD 2.562Bid Price SGD 2.433Bid Offer Spread 5.0%Fund Size SGD 567.8 mFund Manager Aberdeen Pacific Equity Fund Sub Manager Aberdeen Asset Management

Asia Ltd




GreatLink Asia Pacific Equity Fund -1.50% -3.14% 3.36% 4.68% 4.34% 1.48% 4.33%

Benchmark 0.32% -2.11% 8.79% 7.84% 9.32% 5.43% 4.59%


27

Asian

Equit

y

GREATLINK FAR EAST EX JAPAN EQUITIES FUND report as at 30 June 2018


FUND FACTS


FUND OBJECTIVE

The Fund's objective is to maximize capital growth through investing primarily in equities of companies based in China, Hong Kong, Indonesia, South Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand, and also in other Asia Pacific regions except Japan.


GreatLink Far East Ex-Japan Equities Fund

-3.04% -3.37% 9.37% 7.40% 8.22% 3.72% 6.18%

Benchmark -2.12% -2.50% 9.29% 7.70% 9.72% 5.94% 7.48%


Inception Date 25 March 2002Dealing Frequency DailyFund Currency SGDSubscription Mode Cash & SRSRisk Category Higher Risk – Narrowly FocusedBenchmark MSCI AC Far East Ex-Japan Index

with Net Dividends ReinvestedFund Management Fee 1.50% p.a.Offer Price SGD 2.654Bid Price SGD 2.521Bid Offer Spread 5.0%Fund Size SGD 59.3 mFund Manager Lion Global Investors Ltd

Hong Kong, 39.4% Korea, Republic of, 13.2% Taiwan, province of

China, 13.2% United States, 12.1% Cash & Cash Equivalents,

5.7% Singapore, 4.3% Philippines, 4.2% Thailand, 2.4% Indonesia, 2.3% China, 1.4%

Australia, 1.2% Other, -0.4%


28

^ Composite of MSCI Singapore/Malaysia/Philippines/Thailand and Indonesia (Net) from launch till 28 February 2011, then MSCI AC South East Asia Index with Net Dividends Reinvested, from 1 March 2011 to 28 February 2017. From 1 March 2017, the benchmark has been renamed to MSCI AC ASEAN Index with Net Dividends Reinvested.

GREATLINK ASEAN GROWTH FUND report as at 30 June 2018


The Fund's objective is to achieve long term capital appreciation by investing in equities in the economies of the ASEAN region.


Asian

Equit

y


GreatLink ASEAN Growth Fund -7.44% -7.74% 1.04% 3.05% 1.90% 3.55% 5.50%

Benchmark -7.60% -7.67% 0.78% 2.62% 1.67% 5.02% 2.32%


Inception Date 26 April 1996Dealing Frequency DailyFund Currency SGDSubscription Mode Cash & SRSRisk Category Higher Risk – Narrowly FocusedBenchmark MSCI AC ASEAN Index with Net

Dividends Reinvested^Offer Price SGD 3.276Bid Price SGD 3.112Bid Offer Spread 5.0%Fund Size SGD 255.4 mFund Manager Lion Global Investors LtdFund Management Fee 1.50% p.a.


Singapore, 31.9% Thailand, 20.2% Indonesia, 17.2% Malaysia, 16.6% Philippines, 11.7% Cash & Cash Equivalents,

2.9% Other, -0.5%


29

Asian

Equit

y

# Information refers to LionGlobal Japan Growth Fund^ Effective 1 March 2014, the benchmark is changed from TOPIX Price Index to TOPIX Total Return Index. Effective

30 November 2015, the benchmark is changed to TOPIX Total Return Index (calculated in SGD-Hedged).

GREATLINK LION JAPAN GROWTH FUND report as at 30 June 2018

FUND FACTS


FUND OBJECTIVE

The Fund aims to provide long-term capital growth of assets by investing primarily in quoted or listed securities in any Recognized Stock Exchange or OTC market in Japan. The investment strategy is to invest the majority of the deposited property in mid to small market capitalisation companies. There is no target industry or sector. The Fund invests all or substantially into the SGD-Hedged share class of LionGlobal Japan Growth Fund (“Underlying Fund”) managed by Lion Global Investors Limited (“Manager”). The Underlying Fund will invest the majority of the deposited property of the Underlying Fund in mid to small market capitalisation companies. The Underlying Fund will not target any specific industry or sector. The country of domicile of the Underlying Fund is Singapore.

Inception Date 9 January 2007Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OARisk Category Higher Risk – Narrowly FocusedBenchmark TOPIX Total Return Index, in SGD-

Hedged terms^Fund Management Fee 1.50% p.a.Offer Price SGD 1.038Bid Price SGD 0.986Bid Offer Spread 5.0%Fund Size SGD 10.9 mUnderlying Fund Size SGD 247.8 mUnderlying Fund LionGlobal Japan Growth Fund

(SGD-Hedged)Fund Manager Lion Global Investors Ltd PORTFOLIO WEIGHTINGS#

Industrial, 24.4% Technology, 16.3% Consumer, Non-cyclical,

15.9% Consumer, Cyclical,

15.3% Financial, 11.5% Basic Materials, 6.7% Cash Equivalent, 4.7% Real Estate, 3.4% Energy, 1.7% Utilities, 0.2%



GreatLink Lion Japan Growth Fund 0.51% -4.73% 11.92% 4.74% 8.46% 3.22% 0.32%

Benchmark 1.35% -3.24% 10.59% 6.22% 8.87% 2.73% 0.19%


30

GREATLINK CHINA GROWTH FUND report as at 30 June 2018

FUND FACTS


FUND OBJECTIVE

The Fund aims to provide capital growth by investing in equities of People's Republic of China, Hong Kong SAR and Taiwan companies. The Fund invests at least two-thirds of its assets in equities of companies in People's Republic of China, Hong Kong and Taiwan.The Fund may invest directly in China B-Shares and China H-Shares and may invest up to 10% of its assets in China A-Shares through Shanghai-Hong Kong Stock Connect.The Fund may use derivatives with the aim of reducing risk or managing the fund more efficiently. The Fund may also hold cash.


Asian

Equit

y

Inception Date 9 January 2007Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS - OARisk Category Higher Risk – Narrowly FocusedBenchmark MSCI Golden Dragon Index with

Net Dividends ReinvestedFund Management Fee 1.50% p.a.Offer Price SGD 1.669Bid Price SGD 1.585Bid Offer Spread 5.0%Fund Size SGD 188.4 mUnderlying Fund USD 1115.6 mUnderlying Fund Schroder International Selection

Fund - Greater ChinaFund Manager Schroder Investment Management

(Hong Kong) Ltd ('Schroders')

Information Technology, 31.7% Financials, 23.6% Consumer Discretionary, 15.1% Industrials, 4.8% Real Estate, 4.7% Energy, 4.3% Health Care, 4.1% Materials, 4.0% Telecommunication services, 3.2% Consumer Staples, 2.4% Liquid Assets, 2.1%



GreatLink China Growth Fund 2.13% 3.32% 16.54% 7.19% 12.11% 5.22% 4.56%

Benchmark 0.09% 0.23% 13.38% 7.85% 12.48% 6.46% 5.49%


31

Asian

Equit

y

GREATLINK LION INDIA FUND report as at 30 June 2018



The Fund aims for medium to long-term capital appreciation by investing in Indian equities and equity-related instruments. There is no target industry or sector for the investment. The Fund invests all or substantially into the LionGlobal India Fund (“Underlying Fund”) managed by Lion Global Investors Limited. The Underlying Fund shall invest in equities and equity-related instruments (including, without limitation, interests in property funds) of companies or institutions incorporated in, operating principally from, or deriving significant revenue from the Indian subcontinent, which includes, but is not limited to India, Bangladesh, Pakistan and Sri Lanka. The country of domicile of the Underlying Fund is Singapore.


Inception Date 9 January 2007Dealing Frequency DailyFund Currency SGDSubscription Mode Cash & SRSRisk Category Higher Risk – Narrowly FocusedBenchmark MSCI India with Net Dividends

Reinvested, in SGD termsFund Management Fee 1.50% p.a.Offer Price SGD 1.323Bid Price SGD 1.256Bid Offer Spread 5.0%Fund Size SGD 79.7 mUnderlying Fund Size SGD 122.4 mUnderlying Fund LionGlobal India FundFund Manager Lion Global Investors Ltd

Financial, 24.5% Technology, 17.3% Consumer, Cyclical,

14.1% Energy, 11.7% Consumer, Non-cyclical,

11.1% Basic Materials, 7.3% Industrial, 7.2% Cash Equivalent, 4.2% Communications, 1.4% Utilities, 1.3%



GreatLink Lion India Fund 3.54% -6.13% 4.32% 3.62% 8.66% 4.19% 2.46%

Benchmark 3.35% -5.64% 5.44% 5.78% 10.58% 5.22% 3.67%


# Information refers to LionGlobal India Fund

32

# Information refers to Aberdeen Singapore Equity Fund# From 25 March 2002 till 30 June 2013, the benchmark was MSCI Singapore Free Index Net. Effective 1 July 2013, the

benchmark was changed to Straits Times Index.

GREATLINK SINGAPORE EQUITIES FUND report as at 30 June 2018


The Fund aims to achieve medium to long-term capital growth from a portfolio of Singapore equities. The Fund invests all or substantially all into the Aberdeen Singapore Equity Fund (“Underlying Fund”) managed by Aberdeen Asset Management Asia Limited. The country of domicile of the Underlying Fund is Singapore and base currency is Singapore dollars.


Asian

Equit

y


GreatLink Singapore Equities Fund -7.01% -4.50% 2.39% 3.47% 2.99% 2.34% 5.38%

Benchmark -3.31% -2.25% 4.85% 3.17% 4.25% 3.81% 6.49%


Inception Date 25 March 2002Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OARisk Category Higher Risk – Narrowly FocusedBenchmark Straits Times Index#

Fund Management Fee 1.50% p.a.Offer Price SGD 2.347Bid Price SGD 2.229Bid Offer Spread 5.0%Fund Size SGD 154.1 mUnderlying Fund Size SGD 793.1mUnderlying Fund Aberdeen Singapore Equity FundFund Manager Aberdeen Asset Management Asia

Limited


Financials, 53.1% Industrials, 20.2% Consumer Services, 8.3% Oil & Gas, 5.4% Telecommunications,

4.9% Healthcare, 4.7% Technology, 1.2% Consumer Goods, 0.9% Cash, 1.5%


33

Asian

Equit

y

# Information refers to LionGlobal Vietnam Fund^ Benchmark was changed from Vietnam Stock Index to FTSE Vietnam Index wef 1 May 2012.

GREATLINK LION VIETNAM FUND report as at 30 June 2018



The Fund aims to achieve medium to long-term capital appreciation by investing in Vietnam. It will invest in companies listed in Vietnam and other companies listed elsewhere that have operations in, or derive part of their revenue from Vietnam and the Indo-China region. The Fund may also invest in short-term fixed income instruments listed or traded on recognized markets within the Indo-China region. The Fund invests all or substantially into the SGD share class of LionGlobal Vietnam Fund (“Underlying Fund”) managed by Lion Global Investors Limited. The country of domicile of the Underlying Fund is Singapore.

Inception Date 1 February 2008Dealing Frequency DailyFund Currency SGDSubscription Mode Cash & SRSRisk Category Higher Risk – Narrowly FocusedBenchmark FTSE Vietnam Index^Fund Management Fee 1.50% p.a.Offer Price SGD 0.938Bid Price SGD 0.891Bid Offer Spread 5.0%Fund Size SGD 12.1 mUnderlying Fund Size SGD 96.5 mUnderlying Fund LionGlobal Vietnam FundFund Manager Lion Global Investors Ltd


Consumer, Non-cyclical, 22.9%

Real Estate, 16.0% Industrial, 13.3% Basic Materials, 13.3% Financial, 11.0% Cash Equivalent, 9.1% Consumer, Cyclical, 8.2% Technology, 3.9%

Energy, 2.4%



GreatLink Lion Vietnam Fund -8.99% 3.24% 34.39% 16.74% 15.37% 4.42% -0.61%

Benchmark -14.87% -0.43% 31.34% 9.54% 10.25% 2.35% -5.71%


34

Important Note: The GreatLink Cash Fund is recommended to be used as a short term holding fund and not as a form of long term investment as the GreatLink Cash Fund may not yield returns that are higher than the prevailing CPF interest rates.

^ The fund does not accept new CPF monies with effect from 1 May 2013.

GREATLINK CASH FUND report as at 30 June 2018


The Fund's objective is to generate a return comparable to S$ time deposits.



GreatLink Cash Fund 0.31% 0.54% 0.93% 1.00% 0.84% 0.76% 1.41%

Benchmark 0.28% 0.51% 0.88% 0.66% 0.47% 0.31% 1.25%


Inception Date 26 April 1996Dealing Frequency DailyFund Currency SGDSubscription Mode Cash & SRS^Risk Category Lower Risk – Broadly DiversifiedBenchmark 1 month SIBIDOffer Price SGD 1.366Bid Price SGD 1.297Bid Offer Spread 5.0%Fund Size SGD 37.6 mFund Manager Lion Global Investors LtdFund Management Fee 0.30% p.a.


Cash & Cash Equivalents, 45.0%

Singapore, 41.4% Korea, Republic of, 6.9% Other, 3.3% Virgin Islands (British),

1.4% Malaysia, 1.3% Japan, 0.7%

Non-

Equit

y


35

Non-

Equit

y


GreatLink Short Duration Bond Fund 0.07% -0.64% 0.29% 1.91% 2.16% 2.57% 2.38%

Benchmark 0.39% 0.73% 1.30% 1.15% 0.86% 0.70% 1.11%


# Information refers to LionGlobal Short Duration Bond Fund^ Benchmark was 6 Months SIBOR (Singapore Interbank Offered Rate) – 0.125% since inception till 15 October 2014. With

effect from 16 October 2014, the benchmark is changed to 12-Month SIBOR – 0.25% to align the benchmark with that of the new Underlying Fund.

GREATLINK SHORT DURATION BOND FUND report as at 30 June 2018

FUND FACTS



FUND OBJECTIVE

The Fund invests all or substantially into LionGlobal Short Duration Bond Fund SGD Share Class A (“Underlying Fund”), managed by Lion Global Investors Limited. The investment objective is to provide total return of capital growth and income over the medium to long term, through an actively managed portfolio of Singapore and international bonds, high quality interest rate securities, real estate investment trusts (“REITs”), business trusts and other related securities. There is no target industry or sector.

Inception Date 25 March 2002Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OA & SARisk Category Low to Medium Risk – Narrowly

FocusedBenchmark 12-month SIBOR less 0.25%^Fund Management 0.50% p.a.Offer Price SGD 1.466Bid Price SGD 1.392Bid Offer Spread 5.0%Fund Size SGD 113.1 mUnderlying Fund Size SGD 366.8 mUnderlying Fund LionGlobal Short Duration Bond

FundFund Manager Lion Global Investors Ltd

Singapore, 48.8% China, 22.6% Hong Kong, 4.6% India, 3.9% Korea, South, 3.5% United Kingdom, 2.4% Australia, 2.0% Canada, 2.0% Cash Equivalent, 2.0% Netherlands, 1.5% Indonesia, 1.4% Germany, 1.4% Malaysia, 1.3% France, 0.8% Philippines, 0.7%

Japan, 0.5% Qatar, 0.4% United Arab Emirates, 0.2% Ireland, 0.1% United States, -0.1%


36

Non-

Equit

y GREATLINK GLOBAL BOND FUND report as at 30 June 2018

FUND FACTS


FUND OBJECTIVE

The Fund's objective is to achieve excess return relative to the index while minimizing volatility of return relative to the benchmark. The Fund is a diverse, actively managed portfolio of global fixed–income securities. The Fund invests primarily in a diversified portfolio of investment grade bonds denominated in major world currencies.


GreatLink Global Bond Fund 0.50% 0.00% 0.19% 3.05% 2.55% 3.77% 3.27%

Benchmark 0.54% 0.14% 0.75% 2.96% 3.23% 3.42% 3.35%


Inception Date 15 January 2002Dealing Frequency DailyFund Currency SGDSubscription Mode Cash, SRS & CPFIS – OA & SARisk Category Low to Medium Risk – Broadly

DiversifiedBenchmark Barclays Global Aggregate Bond

Index 50% Hedged into SGDFund Management Fee 0.85% p.a.Offer Price SGD 1.697Bid Price SGD 1.612Bid Offer Spread 5.0%Fund Size SGD 270.0 mFund Manager Lion Global Investors LtdSub Manager PIMCO

Europe ex-UK, 52.7% North America, 32.7% Cash & Cash Equivalents,

12.4% United Kingdom, 8.8% Japan, 2.8% Asia Pacific ex-Japan,

2.2% Middle America, 0.9% Other, -12.5%



37

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Fund

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GREATLINK LIFESTYLE DYNAMIC PORTFOLIO report as at 30 June 2018

Investments in Collective Investment Schemes

Market ValueS$

% of NetAssets

FundsGreatLink Global Opportunities Fund 7,542,130 23.67 GreatLink Global Equity Alpha Fund 8,419,924 26.43 GreatLink Asia Pacific Equity Fund 7,680,226 24.11 GreatLink Global Emerging Markets Equity Fund

8,216,310 25.79

31,858,590 100.00

Top 10 Holdings as at 30 June 2017 Market ValueS$

% of Net Assets

GreatLink Global Equity Alpha Fund 7,931,740 25.53 GreatLink Global Emerging Markets Equity Fund

7,875,703 25.35

GreatLink Asia Pacific Equity Fund 7,660,803 24.66 GreatLink Global Opportunities Fund 7,596,467 24.46


% of NetAssets


8,216,310 25.79

GreatLink Global Equity Alpha Fund 8,419,924 26.43 GreatLink Asia Pacific Equity Fund 7,680,226 24.11 GreatLink Global Opportunities Fund 7,542,130 23.67

^ Source: Aberdeen Asset Management Asia Ltd

Fund

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orma

tion

39

GREATLINK LIFESTYLE DYNAMIC PORTFOLIO report as at 30 June 2018

Expense/Turnover RatiosExpense Ratio Turnover Ratio

30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Lifestyle Dynamic Portfolio 1.58% 1.61% 44.94% 41.75%

Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other distributions paid to unit holders and is calculated for the preceding 12 months.

Exposure to DerivativesNil.

BorrowingsNil.

Total amount of Subscriptions and Redemptions for the period ended 30 June 2018S$

Subscriptions 1,186,919 Redemptions 1,774,763

Related-Party TransactionsNot applicable.

Any material information that will adversely impact the valuation of the fundNil.

Fund

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orma

tion

40

GREATLINK LIFESTYLE PROGRESSIVE PORTFOLIO report as at 30 June 2018


Market ValueS$

% of NetAssets

FundsGreatLink Global Bond Fund 17,728,090 18.95GreatLink Global Opportunities Fund 17,980,869 19.22GreatLink Global Equity Alpha Fund 19,978,602 21.36GreatLink Asia Pacific Equity Fund 18,363,058 19.63GreatLink Global Emerging Markets Equity Fund

19,494,685 20.84

93,545,304 100.00


% of Net Assets

GreatLink Global Equity Alpha Fund 18,027,080 20.45GreatLink Global Emerging Markets Equity Fund

17,912,060 20.32

GreatLink Asia Pacific Equity Fund 17,508,651 19.86GreatLink Global Opportunities Fund 17,289,346 19.61Japan Government 20-Yr 1.500 Maturity 20340320

1,007,211 1.14

FGLMC 3 7/17 3.000 Maturity 826,903 0.94FNCL 3 8/13 3.000 Maturity 590,159 0.67GNSF 3 7/17 3.000 Maturity 589,968 0.67Slovenia 5.250 Maturity 20240218 453,814 0.51Nykredit 2.000 Maturity 20471001 349,993 0.40


% of NetAssets


19,494,685 20.84

GreatLink Global Equity Alpha Fund 19,978,602 21.36GreatLink Asia Pacific Equity Fund 18,363,058 19.63GreatLink Global Opportunities Fund

17,980,869 19.22

FGLMC 3 7/17 3.000 Maturity 745,468 0.80GNSF 3 7/17 3.000 Maturity 543,317 0.58Spanish Government 5.150 Maturity 20281031

498,149 0.53

Japan Government 20-Yr 1.500 Maturity 20340320

453,171 0.48

FNCL 3 7/17 3.000 Maturity 433,786 0.46Spanish Government 1.9500 Maturity 20260430

358,249 0.38

Fund

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orma

tion

41

GREATLINK LIFESTYLE PROGRESSIVE PORTFOLIO report as at 30 June 2018


30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Lifestyle Progressive Portfolio 1.51% 1.55% 43.34% 41.99%


Exposure to Derivatives Market Value % of NetS$ Assets

i) Market value of derivatives Foreign Exchange Forward Contracts (225,164) (0.24) Futures (27,562) (0.03)

ii) Net gain/(loss) on derivative realised 396,651

iii) Net gain/(loss) on outstanding derivatives (290,873)

BorrowingsNil.





Fund

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42

GREATLINK LIFESTYLE BALANCED PORTFOLIO report as at 30 June 2018

The GreatLink Lifestyle Balanced Portfolio invested more than 30% of its assets in the GreatLink Global Bond Fund. The following are the top 10 holdings in the GreatLink Global Bond:


Market ValueS$

% of NetAssets

FundsGreatLink Global Bond Fund 141,807,817 33.99GreatLink Global Opportunities Fund 62,166,321 14.90GreatLink Global Equity Alpha Fund 65,809,951 15.77GreatLink Asia Pacific Equity Fund 62,338,640 14.94GreatLink Short Duration Bond Fund 20,230,150 4.85GreatLink Global Emerging Markets Equity Fund

64,897,752 15.55

417,250,631 100.00


% of NetAssets


64,897,752 15.55

GreatLink Global Equity Alpha Fund 65,809,951 15.77GreatLink Asia Pacific Equity Fund 62,338,640 14.94GreatLink Global Opportunities Fund 62,166,321 14.90GreatLink Short Duration Bond Fund 20,230,150 4.85FGLMC 3 7/17 3.000 Maturity 5,963,034 1.43GNSF 3 7/17 3.000 Maturity 4,346,018 1.04Spanish Government 5.150 Maturity 20281031

3,984,720 0.95


3,624,934 0.87

FNCL 3 7/17 3.000 Maturity 3,469,876 0.83


% of Net Assets

GreatLink Asia Pacific Equity Fund 70,634,660 17.23GreatLink Global Emerging Markets Equity Fund

67,432,659 16.45

GreatLink Global Opportunities Fund 65,116,223 15.88GreatLink Global Equity Alpha Fund 62,707,590 15.30GreatLink Short Duration Bond Fund 18,143,983 4.43Japan Government 20-Yr 1.500 Maturity 20340320

7,274,352 1.77

FGLMC 3 7/17 3.000 Maturity 5,972,119 1.46FNCL 3 8/13 3.000 Maturity 4,262,291 1.04GNSF 3 7/17 3.000 Maturity 4,260,908 1.04Slovenia 5.250 Maturity 20240218 3,277,564 0.80

Top 10 Holdings of Underlying Fund as at 30 June 2018

Market ValueS$

% of NetAssets

FGLMC 3 7/17 3.000 Maturity 11,350,303 4.20GNSF 3 7/17 3.000 Maturity 8,272,404 3.06Spanish Government 5.150 Maturity 20281031

7,584,693 2.81


6,899,860 2.56

FNCL 3 7/17 3.000 Maturity 6,604,716 2.45Spanish Government 1.950 Maturity 20260430

5,454,612 2.02

Stadshypotek AB 2.500 Maturity 20190918 4,893,068 1.81FNCL 3 8/13 3.000 Maturity 4,882,760 1.81G2SF 4 8/18 4.000 Maturity 4,465,802 1.65Spanish Government 1.450 Maturity 20271031

4,374,834 1.62


Market ValueS$

% of Net Assets


14,727,121 5.78

FGLMC 3 7/17 3.000 Maturity 12,090,714 4.74FNCL 3 8/13 3.000 Maturity 8,629,122 3.39GNSF 3 7/17 3.000 Maturity 8,626,322 3.38Slovenia 5.250 Maturity 20240218 6,635,516 2.60Nykredit 2.00 Maturity 20471001 5,117,492 2.01Slovenia 4.125 Maturity 20190218 4,135,607 1.62Bear Stearns Companies, Inc. 6.400 Maturity 20171002

3,899,759 1.53

Swedish Covered 1.250 Maturity 20220615 3,517,349 1.38BTPS 4.250 Maturity 20190201 3,358,653 1.32

Fund

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43

GREATLINK LIFESTYLE BALANCED PORTFOLIO report as at 30 June 2018


30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Lifestyle Balanced Portfolio 1.35% 1.40% 42.38% 40.99%



i) Market value of derivatives Foreign Exchange Forward Contracts (1,801,098) (0.43) Futures (220,467) (0.05)

ii) Net gain/(loss) on derivative realised 3,172,830

iii) Net gain/(loss) on outstanding derivatives (2,326,707)

BorrowingsNil.





Fund

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44

GREATLINK LIFESTYLE STEADY PORTFOLIO report as at 30 June 2018


Market ValueS$

% of NetAssets

FundsGreatLink Global Bond Fund 15,233,842 49.15GreatLink Global Opportunities Fund 3,114,415 10.05GreatLink Global Equity Alpha Fund 3,292,425 10.62GreatLink Asia Pacific Equity Fund 6,298,071 20.32GreatLink Short Duration Bond Fund 3,056,964 9.86

30,995,717 100.00

The GreatLink Lifestyle Steady Portfolio invested more than 30% of its assets in the GreatLink Global Bond Fund. The following are the top 10 holdings in the GreatLink Global Bond:


% of NetAssets

GreatLink Asia Pacific Equity Fund 6,298,071 20.32GreatLink Global Equity Alpha Fund 3,292,425 10.62GreatLink Global Opportunities Fund 3,114,415 10.05GreatLink Short Duration Bond Fund 3,056,964 9.86FGLMC 3 7/17 3.000 Maturity 640,585 2.07GNSF 3 7/17 3.000 Maturity 466,875 1.51Spanish Government 5.150 Maturity 20281031

428,062 1.38


389,412 1.26

FNCL 3 7/17 3.000 Maturity 372,755 1.20Spanish Government 1.950 Maturity 20260430

307,846 0.99


% of Net Assets

GreatLink Asia Pacific Equity Fund 6,128,126 20.03GreatLink Short Duration Bond Fund 3,068,751 10.03GreatLink Global Opportunities Fund 3,058,094 9.99GreatLink Global Equity Alpha Fund 3,028,925 9.90Japan Government 20-Yr 1.500 Maturity 20340320

884,741 2.89

FGLMC 3 7/17 3.000 Maturity 726,357 2.37FNCL 3 8/13 3.000 Maturity 518,400 1.69GNSF 3 7/17 3.000 Maturity 518,232 1.69Slovenia 5.250 Maturity 20240218 398,633 1.30Nykredit 2.00 Maturity 20471001 307,437 1.00


Market ValueS$

% of NetAssets

FGLMC 3 7/17 3.000 Maturity 11,350,303 4.20GNSF 3 7/17 3.000 Maturity 8,272,404 3.06Spanish Government 5.150 Maturity 20281031

7,584,693 2.81


6,899,860 2.56


5,454,612 2.02

Stadshypotek AB 2.500 Maturity 20190918 4,893,068 1.81FNCL 3 8/13 3.000 Maturity 4,882,760 1.81G2SF 4 8/18 4.000 Maturity 4,465,802 1.65Spanish Government 1.450 Maturity 20271031

4,374,834 1.62


Market ValueS$

% of Net Assets


14,727,121 5.78


3,899,759 1.53


Fund

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45

GREATLINK LIFESTYLE STEADY PORTFOLIO report as at 30 June 2018


30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Lifestyle Steady Portfolio 1.16% 1.18% 33.68% 30.18%






BorrowingsNil.





Fund

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46

GREATLINK LIFESTYLE SECURE PORTFOLIO report as at 30 June 2018

The GreatLink Lifestyle Secure Portfolio invested more than 30% of its assets in the GreatLink Global Bond Fund. The following are the top 10 holdings in the GreatLink Global Bond:


Market ValueS$

% of NetAssets

FundsGreatLink Global Bond Fund 42,935,144 59.17 GreatLink Global Opportunities Fund 3,651,873 5.03 GreatLink Global Equity Alpha Fund 4,048,044 5.58 GreatLink Asia Pacific Equity Fund 7,501,705 10.34 GreatLink Short Duration Bond Fund 14,429,414 19.88

72,566,180 100.00


% of NetAssets

GreatLink Short Duration Bond Fund 14,429,414 19.88GreatLink Asia Pacific Equity Fund 7,501,705 10.34GreatLink Global Equity Alpha Fund 4,048,044 5.58GreatLink Global Opportunities Fund 3,651,873 5.03FGLMC 3 7/17 3.00 Maturity 1,805,427 2.49GNSF 3 7/17 3.00 Maturity 1,315,844 1.81Spanish Government 5.150 Maturity 20281031

1,206,453 1.66


1,097,521 1.51


867,634 1.20


% of Net Assets

GreatLink Short Duration Bond Fund 14,082,613 20.05GreatLink Asia Pacific Equity Fund 7,111,262 10.12GreatLink Global Equity Alpha Fund 3,633,488 5.17GreatLink Global Opportunities Fund 3,490,221 4.97Japan Government 20-Yr 1.500 Maturity 20340320

2,422,141 3.45

FGLMC 3 7/17 3.00 Maturity 1,988,536 2.83FNCL 3 8/13 3.00 Maturity 1,419,215 2.02GNSF 3 7/17 3.00 Maturity 1,418,754 2.02Slovenia 5.25 Maturity 20240218 1,091,330 1.55Nykredit 2.00 Maturity 20471001 841,664 1.20


Market ValueS$

% of NetAssets

FGLMC 3 7/17 3.000 Maturity 11,350,303 4.20 GNSF 3 7/17 3.000 Maturity 8,272,404 3.06 Spanish Government 5.150 Maturity 20281031

7,584,693 2.81


6,899,860 2.56

FNCL 3 7/17 3.000 Maturity 6,604,716 2.45 Spanish Government 1.950 Maturity 20260430

5,454,612 2.02

Stadshypotek AB 2.500 Maturity 20190918 4,893,068 1.81 FNCL 3 8/13 3.000 Maturity 4,882,760 1.81 G2SF 4 8/18 4.000 Maturity 4,465,802 1.65 Spanish Government 1.450 Maturity 20271031

4,374,834 1.62


Market ValueS$

% of Net Assets


14,727,121 5.78


3,899,759 1.53


Fund

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tion

47

GREATLINK LIFESTYLE SECURE PORTFOLIO report as at 30 June 2018


30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Lifestyle Secure Portfolio 1.00% 0.90% 38.21% 34.12%






BorrowingsNil.





Fund

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48


Top Ten Holdings as at 30 June 2017 Market ValueS$

% of Net Assets

Public Utilities Board 3.900 Maturity 20180831

3,356,961 7.70

CapitaMalls Asia Ltd 3.950 Maturity 20170824

1,757,149 4.03

CIMB Bank Bhd 2.375 Maturity 20170726 1,652,417 3.79Joynote Ltd 3.408 Maturity 20180720 1,532,018 3.52CMT MTN Pte Ltd 3.550 Maturity 20170901

1,505,633 3.46

UOL Treasury 2.500 Maturity 20180420 1,497,318 3.44Compet TM Tech L 2.125 Maturity 20171213

1,377,706 3.16

State Grid Oseas 1.750 Maturity 20180522 1,304,742 2.99Housing & Development Board 2.00 Maturity 20171103

1,254,368 2.88

Singapore Bus Services 1.800 Maturity 20170912

1,250,276 2.87


% of NetAssets

Public Utilities Board 3.900 Maturity 20180831

3,261,700 8.68

Singapore Government 2.500 Maturity 20190601

2,264,634 6.03

National University Of Singapore 1.708 Maturity 20190213

1,745,669 4.65

Joynote Ltd 3.408 Maturity 20180720 1,500,221 3.99SP PowerAssets Ltd 4.390 Maturity 20190515

1,275,656 3.40

Mapletree Treasury Services Ltd 3.880 Maturity 20181004

1,256,319 3.34

CapitaLand Ltd 2.950 Maturity 20220620 1,252,188 3.33Housing & Development Board 2.365 Maturity 20180919

1,250,934 3.33

Korea Development Bank 2.050 Maturity 20180723

1,250,161 3.33

City Development 2.780 Maturity 20180921

1,000,272 2.66

Allocation By Industry Market Value % of Netas at 30 June 2018 S$ AssetsCommunications 681,361 1.81 Consumer, Cyclical 1,504,844 4.00 Consumer, Non-Cyclical 1,745,669 4.65 Financials 4,755,101 12.66 Government 8,522,527 22.69 Utilities 2,227,724 5.93 Accrued interest receivable on Fixed Income Securities

151,547 0.40

Others ** 17,979,041 47.86 Total 37,567,814 100.00

** Includes any other industries and net current assets

Allocation By Country Market Value % of Netas at 30 June 2018 S$ AssetsJapan 248,349 0.66Korea, Republic Of 2,589,879 6.89Malaysia 500,051 1.33Singapore 15,555,196 41.41Virgin Islands (British) 543,751 1.45Accrued interest receivable on Fixed Income Securities

151,547 0.40

Others ** 17,979,041 47.86Total 37,567,814 100.00

** Includes any other countries and net current assets.

Allocation By Asset Class Market Value % of Netas at 30 June 2018 S$ AssetsFixed Income Securities (Including accrued interest on Fixed Income Securities)

19,588,773 52.14

Derivatives (32,818) (0.09)Embedded Derivatives 1,252,187 3.34Cash and cash equivalents 16,898,886 44.98Other net assets/(liabilities) (139,214) (0.37)Total 37,567,814 100.00

Credit Rating of Debt Securities Market Value % of Netas at 30 June 2018 (by S&P or equivalent)

S$ Assets

AAA 10,018,157 20.64AA 3,184,174 7.39A+ 792,100 2.11A- 1,181,413 3.14Not Rated 4,261,382 18.46Accrued interest receivable on Fixed Income Securities

151,547 0.40

19,588,773 52.14

Fund

s Inf

orma

tion

49



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Cash Fund 0.32% 0.32% 50.12% 73.89%



i) Market value of derivatives Foreign Exchange Forward Contracts (32,818) (0.09)



Investments in Collective Investment SchemesNot applicable.

Borrowings Nil.





Investments By Maturity Market Value % of Netas at 30 June 2018 S$ AssetsUp to 30 Days 3,500,472 9.32More than 30 Days to 3 Months 5,512,906 14.68More than 3 Months to 6 Months 2,686,996 7.15More than 6 Months to 1 Year 7,488,503 19.93More than 1 Year 248,349 0.66Accrued interest receivable on Fixed Income Securities

151,547 0.40

19,588,773 52.14

Fund

s Inf

orma

tion

50



% of Net Assets

United Overseas Bank Ltd 19,965,530 7.60 DBS Group Holdings Ltd 15,510,886 5.91 Singapore Telecommunications Ltd 11,767,250 4.48 Bank Central Asia Tbk PT 9,268,409 3.53 Telekomunikasi Indonesia Persero Tbk PT 7,974,309 3.04 Astra International Tbk PT 7,713,723 2.94 Bank Rakyat Indonesia Persero Tbk PT 7,327,471 2.79 Genting Bhd 6,229,905 2.37 Kasikornbank PCL 5,745,106 2.19 Singapore Exchange Ltd 5,675,288 2.16


% of NetAssets

DBS Group Holdings Ltd 24,270,263 9.50 United Overseas Bank Ltd 17,395,632 6.81 Singapore Telecommunications Ltd 8,590,120 3.36 Bank Central Asia Tbk PT 8,185,035 3.21 CP ALL PCL-NVDR 6,837,339 2.68 Bank Rakyat Indonesia Persero Tbk PT 6,726,333 2.63 Airports Of Thailand PCL 6,578,013 2.58 Kasikornbank PCL 5,848,275 2.29 Telekomunikasi Indonesia Persero Tbk PT 5,721,740 2.24 PTT PCL-NVDR 5,701,266 2.23

Allocation By Industry Market Value % of Netas at 30 June 2018 S$ AssetsBasic Materials 6,560,240 2.57 Communications 23,736,655 9.30 Consumer, Cyclical 41,073,572 16.08 Consumer, Non-Cyclical 6,134,486 2.40 Diversified 3,413,410 1.34 Energy 10,540,485 4.13 Financials 130,145,399 50.97 Industrials 19,697,339 7.71 Utilities 7,848,015 3.07 Others ** 6,206,097 2.43 Total 255,355,698 100.00


Allocation By Country Market Value % of Netas at 30 June 2018 S$ AssetsIndonesia 43,828,447 17.17 Malaysia 42,329,422 16.58 Philippines 29,909,997 11.71 Singapore 81,468,734 31.90 Thailand 51,613,001 20.21 Others ** 6,206,097 2.43 Total 255,355,698 100.00


Allocation By Asset Class Market Value % of Netas at 30 June 2018 S$ AssetsEquities 249,149,601 97.57 Derivatives (140) 0.00 Cash and cash equivalents 7,475,856 2.93 Other net assets/(liabilities) (1,269,619) (0.50)Total 255,355,698 100.00

Credit Rating of Debt Securities Market Value % of Netas at 30 June 2018 S$ AssetsNot applicable.

Fund

s Inf

orma

tion

51



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink ASEAN Growth Fund 1.54% 1.55% 25.47% 33.72%



i) Market value of derivatives (140) 0.00 Foreign Exchange Spot Contracts

5,526 ii) Net gain/(loss) on derivative realised

1,059 iii) Net gain/(loss) on outstanding derivatives


Borrowings Nil.





Fund

s Inf

orma

tion

52



Market ValueS$

% of NetAssets

Unit TrustAberdeen Select Pacific Equity - Singapore 567,734,761 99.98Other net assets/(liabilities) 85,355 0.02

567,820,116 100.00

Top 10 Holdings of Underlying Fund as at 30 June 2018 ^

Market ValueS$

% of NetAssets

Aberdeen Global - Indian Equity Fund # 111,167,453 7.39 Aberdeen Singapore Equity Fund 109,788,942 7.30 Samsung Electronics Co. Ltd (Pref) 87,712,667 5.83 Aberdeen China Opportunities Fund 81,458,731 5.42 Taiwan Semiconductor Manufacturing Co. Ltd

65,546,609 4.36

Tencent Holdings Ltd 60,545,380 4.03 AIA Group Ltd 48,341,547 3.21 China Resources Land Ltd 47,758,644 3.18 Aberdeen Thailand Equity Fund 47,747,430 3.17 Aberdeen Indonesia Equity Fund 46,280,863 3.08

# The underlying fund is not authorised for public sale in Singapore

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsAustralia 69,262,120 4.61 China 252,926,846 16.82 Hong Kong 203,862,847 13.55 India 153,100,078 10.18 Indonesia 73,374,108 4.88 Korea, Republic Of 148,770,656 9.89 Malaysia 28,312,170 1.88 Philippines 57,347,987 3.81 Singapore 221,491,294 14.73 Taiwan, Province Of 81,370,214 5.41 Thailand 47,747,430 3.17 United Kingdom 123,933,597 8.24 United States 26,943,836 1.79 Others** 15,689,055 1.04 Total 1,504,132,238 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ S$ AssetsEquities 1,492,889,426 99.25 Cash and cash equivalents 11,242,812 0.75 Total 1,504,132,238 100.00

Credit Rating of Debt Securities of Market Value % of NetUnderlying Fund as at 30 June 2018 ^ S$ AssetsNot applicable.

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ S$ AssetsAberdeen China Opportunities Fund 151,136,390 10.20 Aberdeen Global - Indian Equity Fund # 141,700,552 9.56 Aberdeen Singapore Equity Fund 125,978,654 8.50 Samsung Electronics Co. Ltd (Pref) 72,972,888 4.92 Jardine Strategic Holdings Ltd 68,957,615 4.65 Aberdeen Indonesia Equity Fund 58,067,827 3.92 Taiwan Semiconductor Manufacturing Co. Ltd

54,150,866 3.65

Aberdeen Thailand Equity Fund 51,841,584 3.50 AIA Group Ltd 47,376,048 3.20 Rio Tinto 39,557,072 2.67

# The underlying fund is not authorised for public sale in Singapore

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsConsumer Discretionary 26,943,836 1.79 Consumer Staples 30,008,139 2.00 Financials 321,001,806 21.34 Healthcare 32,214,337 2.14 Industrials 72,242,079 4.80 Information Technology 260,394,976 17.31 Materials 133,546,402 8.88 Real Estate 131,047,773 8.71 Telecommunication Services 60,734,489 4.04 Unit Trusts 424,755,589 28.24 Others** 11,242,812 0.75 Total 1,504,132,238 100.00

** Includes any other industries and net current assets.

Fund

s Inf

orma

tion

53



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Asia Pacific Equity Fund * 1.61% 1.67% 9.97% 3.04%Underlying Fund # ^ 1.68% 1.75% 9.97% 3.04%


* The expense ratio of the underlying fund was included to compute the final ratio.# The expense and turnover ratios of the underlying fund were computed for the period ended 31 March 2018. The ratios for the period ended 30 June 2018 are not available.

The expense and turnover ratios of the underlying fund were based on unaudited draft accounts.

Exposure to Derivatives ^(Underlying Fund)Nil.

Borrowings ^Nil.



Related-Party Transactions^Not applicable.

Any material information that will adversely impact the valuation of the fund ^Nil.

^ Source: Aberdeen Asset Management Asia LtdThe published information is extracted from Aberdeen Select Portfolio Semi-Annual Report and Financial Statements for the period 1 October 2017 to 31 March 2018.

Fund

s Inf

orma

tion

54



% of Net Assets


9,641,559 2.58

UK TSY Gilt 1.250 Maturity 20180722 7,079,537 1.89 Norwegian Government 4.500 Maturity 20190522

5,195,553 1.39

UK TSY Gilt 1.000 Maturity 20170907 5,006,617 1.34 FNCL 3 9/13 Coupon 3.000 Maturity 4,523,275 1.21 Strip Princ Zero Coupon 0 Maturity 20440515

4,365,642 1.17

Mexican Bonos 7.750 Maturity 20421113 4,186,655 1.12 Asian Development Bank 6.450 Maturity 20210808

3,940,367 1.05

Apple Inc 3,622,828 0.97 European Investment Bank 7.200 Maturity 20190709

3,523,319 0.94


% of NetAssets


9,765,327 2.63

UK TSY Gilt 1.250 Maturity 20180722 4,637,731 1.25 FNCL 3 8/13 Coupon 3.000 Maturity 4,354,894 1.17 Kommuninvest 2.500 Maturity 20201201 4,222,229 1.14 FGLMC 3.5 7/18 3.500 Maturity 4,069,346 1.10 Japan Government 10-Yr 0.100 Maturity 20260920

4,017,964 1.08

Slovenia 4.125 Maturity 20190218 3,298,741 0.89 Apple Inc 3,205,447 0.86 Slovenia 5.250 Maturity 20240218 3,136,692 0.85 Norwegian Government 4.500 Maturity 20190522

3,093,182 0.83

Allocation By Industry Market Value % of Netas at 30 June 2018 S$ AssetsAsset-backed Securities 6,028,973 1.63 Basic Materials 9,466,748 2.55 Communications 17,795,111 4.80 Consumer, Cyclical 27,385,053 7.38 Consumer, Non-Cyclical 42,153,041 11.36 Energy 11,621,717 3.13 Financials 70,108,327 18.90 Government 87,039,055 23.46 Industrials 22,835,008 6.15 Mortgage Securities 18,043,625 4.86 Technology 21,271,312 5.73 Utilities 5,826,510 1.57 Accrued interest receivable on Fixed Income Securities

1,144,778 0.31

Others** 30,296,287 8.17 Total 371,015,545 100.00


Allocation By Country Market Value % of Netas at 30 June 2018 S$ AssetsAustralia 8,511,692 2.29 Canada 13,925,446 3.75 Denmark 8,450,353 2.28 France 17,470,856 4.71 Germany 9,557,935 2.58 Japan 29,435,073 7.93 Luxembourg 4,677,290 1.26 Malaysia 4,137,833 1.12 Mexico 7,542,887 2.03 Netherlands 6,917,244 1.86 Norway 6,630,153 1.79 Poland 4,459,198 1.20 Slovenia 7,553,102 2.04 Spain 12,515,506 3.37 Sweden 16,844,157 4.54 Switzerland 4,193,288 1.13 United Kingdom 24,323,229 6.56 United States 127,714,766 34.42 Accrued interest receivable on Fixed Income Securities

1,144,778 0.31

Others** 55,010,759 14.83 Total 371,015,545 100.00

** Includes any other countries and net current assets

Allocation By Asset Class Market Value % of Netas at 30 June 2018 S$ AssetsEquities 180,787,743 48.73 Fixed Income Securities (Including accrued interest on Fixed Income Securities)

160,012,036 43.13

Derivatives 618,946 0.17 Cash and cash equivalents 41,641,240 11.22 Other net assets/(liabilities) (12,044,420) (3.25)Total 371,015,545 100.00

Fund

s Inf

orma

tion

55



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Global Supreme Fund 1.37% 1.36% 132.85% 99.99%



i) Market value of derivativesForeign Exchange Forward Contracts 528,224 0.14Futures (274) 0.00Foreign Exchange Spot Contracts 90,741 0.03Rights 255 0.00


iii) Net gain/(loss) on outstanding derivatives 1,076,651


Borrowings Nil.





Credit Rating of Debt Securities Market Value % of Netas at 30 June 2018 (by S&P or equivalent) S$ AssetsAAA 55,383,355 14.93 AA+ 5,696,428 1.53 AA 1,110,546 0.30 AAu 7,969,994 2.15 AA- 2,843,372 0.77 A+ 27,242,942 7.34 A 4,564,137 1.23 A /*- 541,312 0.14 A- 17,689,250 4.77 A-* 478,753 0.13 BBB+ 5,724,952 1.54 BBB 2,600,759 0.70 BBB- 921,912 0.25 BB- 2,224,809 0.60 BBu 1,590,582 0.43 Not Rated 22,284,154 6.01 Accrued interest receivable on Fixed Income Securities

1,144,778 0.31

160,012,036 43.13

Note: Some S&P ratings are unsolicited - indicated by the "u" *- indicates negative outlook

Fund

s Inf

orma

tion

56



Market ValueS$

% of NetAssets

Unit TrustLionGlobal Asia High Dividend Fund CL A – Singapore

37,738,579 99.13

Other net assets/(liabilities) 329,868 0.87 38,068,447 100.00

Top 10 Holdings of Underlying Fund as at 30 June 2018 ^

Market ValueS$

% of NetAssets

China Construction Bank-H 2,783,816 4.87Australia & New Zealand Banking Group Ltd 2,582,339 4.52Taiwan Semiconductor Manufacturing Co. Ltd

2,279,432 3.99

Tencent Holdings Ltd 2,198,129 3.85DBS Group Holdings Ltd 2,128,037 3.73BHP Billiton Ltd 1,955,387 3.42China Petroleum & Chemical Corporation 1,788,486 3.13Malayan Banking Bhd 1,643,902 2.88Ping An Insurance Group Co. of China Ltd 1,642,399 2.87Samsung Electronics Co. Ltd (Pref) 1,519,840 2.66

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsAustralia 9,633,468 16.86China 15,451,317 27.05Hong Kong 3,665,961 6.42India 2,019,039 3.52Korea, Republic Of 6,699,989 11.73Malaysia 1,643,903 2.88Singapore 3,438,438 6.02Taiwan, Province Of China 8,152,036 14.27Thailand 2,049,406 3.59Others** 4,374,164 7.66Total 57,127,721 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ S$ AssetsEquities 52,753,557 92.34 Cash and cash equivalents 4,374,164 7.66 Total 57,127,721 100.00


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ S$ AssetsTaiwan Semiconductor Manufacturing Co. Ltd

3,056,901 4.44

Samsung Electronics Co. Ltd (Pref) 2,297,901 3.33Sands China Ltd 2,094,116 3.04Malayan Banking Bhd 2,061,278 2.99Insurance Australia Group Ltd 2,046,952 2.97SK Telecom Co. Ltd 2,035,191 2.95Sydney Airport 1,879,647 2.73Ping An Insurance Group Co. of China Ltd 1,825,928 2.65China Pacific Insurance Group Co. Ltd 1,788,490 2.60HKT Trust and HKT Ltd 1,662,245 2.41

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsBasic Materials 6,699,411 11.73Consumer, Cyclical 4,749,598 8.31Energy 3,390,010 5.93Financials 18,107,437 31.70Industrials 3,234,535 5.66Real Estate 4,769,210 8.35Technology 10,856,561 19.00Utilities 946,795 1.66Others** 4,374,164 7.66Total 57,127,721 100.00


Fund

s Inf

orma

tion

57



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Asia High Dividend Equity Fund * 1.94% 1.89% 135.39% 185.46%Underlying Fund # ^ 1.91% 1.86% 135.39% 185.46%


* The expense ratio of the underlying fund was included to compute the final ratio.# The expense and turnover ratios of the underlying fund were based on unaudited draft accounts.


Borrowings ^Nil.



Related-Party TransactionsThe GreatLink Asia High Dividend Equity Fund invests 100% of its net assets value in LionGlobal Asia High Dividend Fund, which is managed By Lion Global Investors Ltd, a related company of The Great Eastern Life Assurance Co. Ltd.


^ Source: Lion Global Investors Ltd

Fund

s Inf

orma

tion

58



% of Net Assets

Banco Santander SA 942,882 1.43 British American Tobacco PLC 712,262 1.08 Amgen Inc 685,082 1.04 Amazon.com Inc 679,723 1.03 Comcast Corporation-A 673,213 1.02 Merck & Co. Inc 659,346 1.00 Adobe Systems Inc 657,642 1.00 Bayer AG-Reg 654,533 1.00 AT&T Inc 638,239 0.97 Tokyo Electron Ltd 631,616 0.96


% of NetAssets

Apple Inc 1,385,914 1.99 Amazon.com Inc 1,272,404 1.82 Johnson & Johnson 1,120,738 1.61 Bank Of America Corporation 1,026,577 1.47 AIA Group Ltd 989,554 1.42 Boeing Co./The 972,119 1.39 Facebook Inc-A 921,779 1.32 Adobe Systems Inc 889,263 1.27 Merck & Co. Inc 869,026 1.25 Eni SpA 814,243 1.17

Allocation By Country Market Value % of Netas at 30 June 2018 S$ AssetsAustralia 1,842,308 2.64 Canada 1,493,308 2.14 France 988,453 1.42 Germany 1,121,339 1.61 Hong Kong 1,156,611 1.66 Italy 1,092,553 1.56 Japan 7,994,929 11.45 Netherlands 783,867 1.12 Spain 1,089,136 1.56 Switzerland 949,290 1.36 United Kingdom 2,080,097 2.98 United States 46,928,858 67.22 Others ** 2,293,881 3.28 Total 69,814,630 100.00


Allocation By Asset Class Market Value % of Netas at 30 June 2018 S$ AssetsEquities 68,908,485 98.70 Derivatives (292) 0.00 Cash and cash equivalents 1,171,269 1.68 Other net assets/(liabilities) (264,832) (0.38)Total 69,814,630 100.00


Allocation By Industry Market Value % of Netas at 30 June 2018 S$ AssetsBasic Materials 2,798,920 4.01 Communications 8,855,023 12.68 Consumer, Cyclical 8,367,993 11.99 Consumer, Non-Cyclical 14,716,581 21.08 Energy 6,479,104 9.28 Financials 12,143,368 17.39 Industrials 5,383,439 7.71 Technology 9,075,049 13.00 Utilities 1,089,009 1.56 Others ** 906,144 1.30 Total 69,814,630 100.00


Fund

s Inf

orma

tion

59



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Global Equity Fund 1.66% 1.66% 128.53% 146.96%



i) Market value of derivatives Foreign Exchange Forward Contracts (292) 0.00

ii) Net gain/(loss) on derivative realised (14,854)

iii) Net gain/(loss) on outstanding derivatives (292)


Borrowings Nil.


Subscriptions 581,411 Redemptions 2,700,652



Fund

s Inf

orma

tion

60



% of Net Assets

AB FCP I - Global Equity Blend Portfolio 12,617,861 40.21 Japan Government 20-Yr 2.100 Maturity 20301220

1,071,445 3.42

US Treasury N/B 1.500 Maturity 20191031 639,706 2.04 Japan Government 10-Yr 1.400 Maturity 20200320

618,996 1.97

France O.A.T. 4.500 Maturity 20410425 584,896 1.86 Spanish Government 1.300 Maturity 20261031

493,926 1.57

Queensland Treasury 6.250 Maturity 20200221

434,922 1.39

BTPS 1.250 Maturity 20261201 429,004 1.37 Japan Government 30-Yr 1.700 Maturity 20431220

415,274 1.32

Spanish Government 1.450 Maturity 20271031

405,077 1.29


% of NetAssets

AB FCP I - Global Equity Blend Portfolio 14,109,902 42.97 Japan Fin Muni Ent 1.900 Maturity 20180622

998,005 3.04


869,071 2.65

France O.A.T. 4.500 Maturity 20410425 865,148 2.64 BTPS 4.000 Maturity 20200901 842,699 2.57 Queensland Treasury 4.250 Maturity 20230721

403,135 1.23


399,566 1.22

TSY Infl LX N/B 0.125 Maturity 20220415 392,821 1.20 Japan Government 30-Yr 1.700 Maturity 20431220

354,379 1.08

Banco Bilbao Viz 2.250 Maturity 20240612 352,429 1.07

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsAB FCP I - Global Equity Blend PortfolioApple Inc. 2,252,651 1.77 ICON PLC 1,842,924 1.45 Microsoft Corporation 1,780,705 1.40 MSCI Inc. - Class A 1,717,751 1.35 Kingspan Group PLC (London) 1,704,227 1.34 Hexcel Corporation 1,536,559 1.21 Housing Development Finance Corporation Ltd

1,525,591 1.20

UnitedHealth Group Inc. 1,491,943 1.17 Ecolab Inc. 1,491,706 1.17 Visa Inc. - Class A 1,489,555 1.17

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsAllianceBernstein Global Equity Blend PortfolioApple Inc. 5,826,601 1.65 Roche Holding AG 4,622,224 1.31 Vestas Wind Systems A/S 4,526,753 1.28 Housing Development Finance Corporation Ltd

4,389,473 1.25

AIA Group Ltd 4,379,870 1.24 Kingspan Group PLC (London) 4,286,692 1.22 ICON PLC 4,126,816 1.17 MSCI, Inc. - Class A 3,976,026 1.13 Ecolab Inc. 3,886,627 1.10 Xylem Inc./NY 3,870,081 1.10

Allocation By Country Market Value % of Netas at 30 June 2018 S$ AssetsAB FCP I - Global Equity Blend Portfolio 12,617,861 40.21 Australia 870,233 2.77 Canada 441,528 1.41 France 605,197 1.93 Germany 324,231 1.03 Italy 1,434,511 4.57 Japan 3,381,052 10.78 Netherlands 695,888 2.22 Spain 1,415,417 4.51 United Kingdom 1,455,591 4.64 United States 5,591,902 17.82 Accrued interest receivable on Fixed Income Securities

116,809 0.37

Others** 2,427,552 7.74 Total 31,377,772 100.00


Allocation By Industry Market Value % of Netas at 30 June 2018 S$ AssetsAB FCP I - Global Equity Blend Portfolio 12,617,861 40.21 Asset-backed Securities 1,003,662 3.20 Consumer, Non-Cyclical 624,418 1.99 Financials 2,617,126 8.34 Government 12,314,978 39.26 Mortgage Securities 1,061,874 3.38 Accrued interest receivable on Fixed Income Securities

116,809 0.37

Others** 1,021,044 3.25 Total 31,377,772 100.00


Fund

s Inf

orma

tion

61


Allocation By Asset Class Market Value % of Netas at 30 June 2018 S$ AssetsEquities 12,617,861 40.21 Fixed Income Securities (Including accrued interest on Fixed Income Securities)

18,418,836 58.70

Derivatives 9,955 0.03 Cash and cash equivalents 530,066 1.69 Other net assets/(liabilities) (198,946) (0.63)Total 31,377,772 100.00


S$ Assets

AAA 4,747,031 15.13 AAAu 449,286 1.43 AA+ 1,236,001 3.94 AA 33,580 0.11 AAu 784,524 2.50 AA- 87,661 0.28 A+ 3,067,442 9.78 A 227,676 0.72 A- 604,000 1.92 BBB+ 943,533 3.01 BBB+ /*- 20,302 0.06 BBB 1,237,714 3.94 BBBu 925,209 2.95 BBB- 215,617 0.69 BB+ 80,637 0.26 BB 74,608 0.24 Not Rated 3,567,209 11.37 Accrued interest receivable on Fixed Income Securities

116,809 0.37

18,418,836 58.70

Note: Some S&P ratings are unsolicited - indicated by the “u” *- indicates negative outlook

Fund

s Inf

orma

tion

62



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Global Optimum Fund * 1.40% 1.43% 42.38% 47.35%Underlying Fund # ^ 0.80% 0.79% 45.99% 63.15%


* The expense and turnover ratios of the underlying fund - AB FCP 1 - Global Equity Blend Portfolio S1 Class, which accounts for 40% of investments in GreatLink Global Optimum Fund have been included to compute the final ratio.

# The expense and turnover ratios of the underlying fund were computed for the period ended 28 February 2018. The ratios for the period ended 30 June 2018 are not available. The expense and turnover ratios of the underlying fund were based on unaudited draft accounts.


i) Market value of derivatives Foreign Exchange Forward Contracts 9,955 0.03


iii) Net gain/(loss) on outstanding derivatives 4,580

Investments in Collective Investment SchemesMarket Value % of Net

S$ AssetsAB FCP I - Global Equity Blend Portfolio S1 Class 12,617,861 40.21

Borrowings Securities lending amount of USD 628,608, which was 0.49% of the total portfolio as of 30 June 2018.



Related-Party TransactionsNil.


^ Source: AllianceBernstein (Singapore) Ltd

Fund

s Inf

orma

tion

63


Top Ten Holdings as at 30 June 2017 Market Value S$

% of Net Assets

Apple Inc 4,413,822 4.78 Tencent Holdings Ltd 4,200,614 4.55 Facebook Inc 3,779,198 4.09 Visa Inc 3,657,608 3.96 Global Payments Inc 3,247,583 3.51 Taiwan Semiconductor Manufacturing Co. Ltd

2,925,467 3.17

Broadcom Ltd 2,409,448 2.61 Alibaba Group Holding Ltd 2,365,418 2.56 Macom Technology Solutions Holdings Inc 2,228,816 2.41 Workday Inc 2,187,353 2.37


% of NetAssets

Facebook Inc 6,875,852 5.75 Alphabet Inc 6,078,538 5.08 Visa Inc 5,630,968 4.71 Tencent Holdings Ltd 5,576,530 4.66 Global Payments Inc 4,119,040 3.44 Salesforce.com Inc 3,976,839 3.33 Alibaba Group Holding Ltd 3,749,522 3.14 Paypal Holdings Inc 3,219,500 2.69 WEX Inc 3,142,085 2.63 FleetCor Technologies Inc 3,064,937 2.56

Allocation By Country Market Value % of Netas at 30 June 2018 S$ AssetsHong Kong 8,855,604 7.41 Japan 1,970,780 1.65 Korea, Republic Of 3,301,600 2.76 Taiwan, Province Of China 8,580,442 7.17 United States 93,554,334 78.24 Others** 3,316,934 2.77 Total 119,579,694 100.00


Allocation By Asset Class Market Value % of Netas at 30 June 2018 S$ AssetsEquities 117,036,888 97.88 Derivatives 668 0.00 Cash and cash equivalents 2,036,251 1.70 Other net assets/(liabilities) 505,887 0.42 Total 119,579,694 100.00


Allocation By Industry Market Value % of Netas at 30 June 2018 S$ AssetsCommunications 29,199,596 24.42 Consumer, Non-Cyclical 18,484,686 15.46 Financials 7,646,567 6.39 Industrials 11,288,133 9.44 Technology 48,876,615 40.87 Others** 4,084,097 3.42 Total 119,579,694 100.00


Fund

s Inf

orma

tion

64



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Global Technology Fund 1.63% 1.62% 61.28% 87.26%



i) Market value of derivatives Foreign Exchange Forward Contracts 371 0.00 Foreign Exchange Spot Contracts 297 0.00




Borrowings Nil.





Fund

s Inf

orma

tion

65

GREATLINK GLOBAL BOND FUND report as at 30 June 2018


% of Net Assets


14,727,121 5.78

FGLMC 3 7/17 3.000 Maturity 12,090,714 4.74 FNCL 3 8/13 3.000 Maturity 8,629,122 3.39 GNSF 3 7/17 3.000 Maturity 8,626,322 3.38 Slovenia 5.250 Maturity 20240218 6,635,516 2.60 Nykredit 2.000 Maturity 20471001 5,117,492 2.01 Slovenia 4.125 Maturity 20190218 4,135,607 1.62 Bear Stearns Companies Inc 6.400 Maturity 20171002

3,899,759 1.53

Swedish Covered 1.250 Maturity 20220615 3,517,349 1.38 BTPS 4.250 Maturity 20190201 3,358,653 1.32


% of NetAssets

FGLMC 3 7/17 3.000 Maturity 11,350,303 4.20 GNSF 3 7/17 3.000 Maturity 8,272,404 3.06 Spanish Government 5.150 Maturity 20281031

7,584,693 2.81


6,899,860 2.56

FNCL 3 7/17 3.000 Maturity 6,604,716 2.45 Spanish Government 1.950 Maturity 20260430

5,454,612 2.02

Stadshypotek AB 2.500 Maturity 20190918 4,893,068 1.81 FNCL 3 8/13 Coupon 3.000 Maturity 4,882,760 1.81 G2SF 4 8/18 4.000 Maturity 4,465,802 1.65 Spanish Government 1.450 Maturity 20271031

4,374,834 1.62

Allocation By Country Market Value % of Netas at 30 June 2018 S$ AssetsCanada 6,746,330 2.50 Denmark 10,649,434 3.94 Finland 3,536,721 1.31 France 14,096,080 5.22 Germany 15,647,224 5.79 Ireland 13,115,036 4.86 Italy 4,312,087 1.60 Japan 7,429,028 2.75 Luxembourg 5,425,477 2.01 Netherlands 11,440,850 4.24 Slovenia 10,639,036 3.94 Spain 23,783,032 8.81 Sweden 24,166,894 8.95 United Kingdom 23,639,199 8.76 United States 80,888,478 29.96 Accrued interest receivable on Fixed Income Securities

1,648,935 0.61

Others** 12,839,003 4.75 Total 270,002,844 100.00


Allocation By Industry Market Value % of Netas at 30 June 2018 S$ AssetsAsset-backed Securities 27,762,076 10.28 Communications 6,349,484 2.35 Consumer, Cyclical 8,226,847 3.05 Consumer, Non-Cyclical 10,053,469 3.72 Financials 99,191,260 36.74 Government 64,451,035 23.87 Mortgage Securities 52,193,538 19.33 Accrued interest receivable on Fixed Income Securities

1,648,935 0.61

Others** 126,200 0.05 Total 270,002,844 100.00


Allocation By Asset Class Market Value % of Netas at 30 June 2018 S$ AssetsFixed Income Securities (Including accrued interest on Fixed Income Securities)

278,378,746 103.10

Derivatives (3,849,070) (1.43)Cash and cash equivalents 33,505,138 12.41 Other net assets/(liabilities) (38,031,970) (14.08)Total 270,002,844 100.00


S$ Assets

AAA 95,225,090 35.27 AA+ 4,583,448 1.70 AA 8,046,902 2.98 AAu 4,567,555 1.69 AA- 8,598,024 3.18 A+ 22,783,173 8.44 A 9,559,165 3.54 A /*- 1,082,624 0.40 A- 6,554,876 2.43 A-* 957,506 0.35 BBB+ 14,996,873 5.55 BBB+ /*- 379,677 0.14 BBB 19,440,935 7.20 BBBu 3,640,903 1.35 BBB- 12,437,521 4.61 CCC 248,811 0.09 Not Rated 63,626,727 23.57 Accrued interest receivable on Fixed Income Securities

1,648,935 0.61

278,378,746 103.10

Note: Some S&P ratings are unsolicited - indicated by the “u”

Fund

s Inf

orma

tion

66

GREATLINK GLOBAL BOND FUND report as at 30 June 2018


30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Global Bond Fund 0.88% 0.89% 37.41% 43.34%



i) Market value of derivatives Foreign Exchange Forward Contracts (3,429,299) (1.27) Futures (419,771) (0.16)




Borrowings Nil.





Fund

s Inf

orma

tion

67



% of Net Assets

Samsung Electronics Co. Ltd 4,227,730 7.36 Tencent Holdings Ltd 3,934,551 6.85 Alibaba Group Holding Ltd 3,167,600 5.51 Taiwan Semiconductor Manufacturing Co. Ltd

2,727,290 4.74

Ping An Insurance (Group) Company Of China, Ltd

2,359,347 4.10

China Construction Bank Corporation 1,935,250 3.37 China Petroleum & Chemical Corporation 1,600,430 2.78 China Life Insurance Co. Ltd 1,501,722 2.61 Bank Rakyat Indonesia Persero Tbk PT 1,458,247 2.54 United Overseas Bank Ltd 1,341,029 2.33


% of NetAssets

Tencent Holdings Ltd 5,249,385 8.85 Samsung Electronics Co. Ltd 4,392,298 7.41 Alibaba Group Holding Ltd 3,820,607 6.44 China Construction Bank Corporation 3,246,589 5.47 Taiwan Semiconductor Manufacturing Co. Ltd

2,865,951 4.83

Ping An Insurance (Group) Company Of China, Ltd

2,340,202 3.95

China Petroleum & Chemical Corporation 2,158,833 3.64 DBS Group Holdings Ltd 1,883,988 3.18 KB Financial Group Inc 1,768,006 2.98 AIA Group Ltd 1,557,057 2.63

Allocation By Country Market Value % of Netas at 30 June 2018 S$ AssetsAustralia 734,200 1.24 China 832,152 1.40 Hong Kong 23,372,970 39.41 Indonesia 1,339,687 2.26 Korea, Republic Of 7,852,406 13.24 Philippines 2,486,845 4.19 Singapore 2,578,668 4.35 Taiwan, Province Of China 7,824,304 13.19 Thailand 1,420,702 2.40 United States 7,197,664 12.14 Others** 3,662,122 6.18 Total 59,301,720 100.00


Allocation By Asset Class Market Value % of Netas at 30 June 2018 S$ AssetsEquities 55,639,598 93.83 Cash and cash equivalents 3,406,029 5.74 Derivatives 241 0.00 Other net assets/(liabilities) 255,852 0.43 Total 59,301,720 100.00


Allocation By Industry Market Value % of Netas at 30 June 2018 S$ AssetsBasic Materials 1,331,548 2.24 Communications 11,058,142 18.65 Consumer, Cyclical 3,873,329 6.53 Consumer, Non-Cyclical 1,512,987 2.55 Energy 2,158,833 3.64 Financials 20,834,643 35.13 Industrials 6,787,824 11.45 Technology 8,082,292 13.63 Others** 3,662,122 6.18 Total 59,301,720 100.00


Fund

s Inf

orma

tion

68



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Far East Ex-Japan Equities Fund 1.55% 1.55% 67.65% 138.94%



i) Market value of derivativesForeign Exchange Spot Contracts 241 0.00


iii) Net gain/(loss) on outstanding derivatives (337)


Borrowings Nil.





Fund

s Inf

orma

tion

69



Market Value S$

% of Net Assets

Unit TrustAberdeen Singapore Equity – Singapore 154,094,215 100.00Other net assets/(liabilities) 2,699 -

154,096,914 100.00

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsDBS Group Holdings Ltd 98,449,862 11.60 Oversea-Chinese Banking Corporation Ltd 96,869,830 11.41 United Overseas Bank Ltd 65,978,192 7.77 Venture Corporation Ltd 56,220,000 6.62 Singapore Telecommunications Ltd 52,932,792 6.24 Keppel Corporation Ltd 46,152,246 5.44 City Developments Ltd 42,890,900 5.05 CapitaLand Ltd 37,961,595 4.47 Jardine Strategic Holdings 32,936,474 3.88 Raffles Medical Group Ltd 30,415,938 3.58

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsHong Kong 32,936,474 3.88 Malaysia 8,729,000 1.03 Singapore 799,341,613 94.16 Others** 7,911,379 0.93 Total 848,918,466 100.00

Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ S$ AssetsEquities 841,007,087 99.07 Cash and cash equivalents 7,911,379 0.93 Total 848,918,466 100.00

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ S$ AssetsOversea-Chinese Banking Corporation Ltd 87,714,728 10.53 DBS Group Holdings Ltd 78,902,807 9.47 Singapore Telecommunications Ltd 64,194,939 7.71 City Developments Ltd 58,785,660 7.06 United Overseas Bank Ltd 56,150,600 6.74 Keppel Corporation Ltd 44,137,012 5.30 Jardine Strategic Holdings 41,381,846 4.97 ST Engineering Ltd 31,476,351 3.78 Raffles Medical Group Ltd 30,924,075 3.71 Venture Corporation Ltd 30,724,689 3.69

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsConsumer Services 69,030,703 8.13 Financials 436,536,898 51.42 Healthcare 44,621,654 5.26 Industrials 174,319,462 20.53 Oil & Gas 46,152,246 5.44 Technology 9,484,740 1.12 Telecommunications 52,932,792 6.23 Others** 15,839,971 1.87 Total 848,918,466 100.00



Fund

s Inf

orma

tion

70



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Singapore Equities Fund * 1.65% 1.69% 5.17% 8.01%Underlying Fund # ^ 1.63% 1.67% 5.17% 8.01%


* The expense ratio of the underlying fund was included to compute the final ratio.# The expense and turnover ratios of the underlying fund were computed for the period ended 31 March 2018 The ratios for the period ended 30 June 2018 are not available.



Borrowings ^Nil.



Related-Party Transactions ^Not applicable.



Fund

s Inf

orma

tion

71



% of Net Assets

Equity Residential 7,392,796 2.68 Ventas Inc 7,097,178 2.58 Simon Property Group Inc 6,955,072 2.52 Camden Property Trust 6,146,323 2.23 Mitsui Fudosan Co. Ltd 5,156,920 1.87 Hudson Pacific Properties Inc 4,777,447 1.73 Mitsubishi Estate Co. Ltd 4,694,604 1.70 Forest City Realty Trust Inc 4,639,414 1.68 Duke Realty Corporation 4,592,322 1.67 Sun Hung Kai Properties Ltd 4,551,756 1.65


% of NetAssets

Welltower Inc 11,402,394 3.76 Avalonbay Communities Inc 9,731,590 3.21 UDR Inc 7,525,024 2.48 Vonovia SE 7,366,036 2.43 Simon Property Group Inc 6,877,383 2.27 Equity Lifestyle Properties Inc 6,097,245 2.01 Mitsui Fudosan Co. Ltd 5,760,392 1.90 Forest City Realty Trust Inc 5,583,794 1.84 CK Asset Holdings Ltd 5,202,580 1.72 Prologis Inc 5,047,172 1.66

Allocation By Country Market Value % of Netas at 30 June 2018 S$ AssetsAustralia 15,592,770 5.14 Canada 7,269,073 2.40 France 6,151,840 2.03 Germany 14,777,699 4.87 Hong Kong 26,772,442 8.83 Ireland 7,698,233 2.54 Japan 31,697,694 10.45 Netherlands 5,034,339 1.66 Singapore 8,776,798 2.90 Sweden 3,742,194 1.23 United Kingdom 13,145,779 4.34 United States 156,653,128 51.66 Others** 5,911,698 1.95 Total 303,223,687 100.00


Allocation By Asset Class Market Value % of Netas at 30 June 2018 S$ AssetsEquities 301,166,833 99.32 Derivatives (3,278) 0.00 Cash and cash equivalents 1,415,123 0.47 Other net assets/(liabilities) 645,009 0.21 Total 303,223,687 100.00


Allocation By Industry Market Value % of Netas at 30 June 2018 S$ AssetsConsumer, Cyclical 5,322,993 1.76 Financials 294,959,154 97.27 Others** 2,941,540 0.97 Total 303,223,687 100.00


Fund

s Inf

orma

tion

72



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Global Real Estate Securities Fund 1.65% 1.66% 92.43% 104.30%



i) Market value of derivatives Foreign Exchange Spot Contracts (3,278) 0.00




Borrowings Nil.





Fund

s Inf

orma

tion

73


Top Ten Holdings Top 10 Holdings of Underlying Fund as at 30 June 2017 ^

Market Value S$

% of Net Assets

Taiwan Semiconductor Manufacturing Co. Ltd

76,065,436 7.73

Tencent Holdings Ltd 73,380,026 7.46 Alibaba Group Holding Ltd 66,380,228 6.75 China Mobile Ltd 34,554,224 3.51 Hon Hai Precision Industry Co. Ltd 31,413,992 3.19 HSBC Holdings PLC 29,566,142 3.01 China Pacific Insurance Group Co. Ltd 29,283,882 2.98 Bank of China (Hong Kong) Ltd 28,903,355 2.94 Ctrip.com International Ltd 27,178,095 2.76 AIA Group Ltd 25,995,970 2.64

Top 10 Holdings of Underlying Fundas at 30 June 2018 ^

Market Value US$

% of NetAssets

Tencent Holdings Ltd 112,826,897 10.11 Alibaba Group Holding Ltd 75,899,621 6.80 Taiwan Semiconductor Manufacturing Co. Ltd

75,086,816 6.73

China Construction Bank Corporation 43,536,933 3.90 AIA Group Ltd 37,215,819 3.34 China Mobile Ltd 35,839,597 3.21 Industrial & Commercial Bank of China Ltd 33,964,712 3.04 PetroChina Co. Ltd 32,156,371 2.88 Bank of China Ltd (Hong Kong) 29,229,443 2.62 Sands China Ltd 28,941,875 2.59


Market ValueS$

% of NetAssets

Unit TrustSchroder ISF Greater China Fund SGD 188,477,086 100.02Other net assets/(liabilities) (29,558) (0.02)

188,447,528 100.00

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018^ US$ AssetsChina 658,141,207 58.99 Hong Kong 268,048,846 24.03 Taiwan, Province Of China 154,956,417 13.89 Others** 34,447,037 3.09 Total 1,115,593,507 100.00


Allocation By Asset Class of Underlying Fund Market Value % of Netas at 30 June 2018 US$ AssetsEquities 1,092,243,468 97.91 Cash and cash equivalents 23,350,039 2.09 Total 1,115,593,507 100.00

Credit Rating of Debt Securities Market Value % of Netas at 30 June 2018^ US$ AssetsNot applicable.

Allocation By Industry of Underlying Market Value % of NetFund as at 30 June 2018^ US$ AssetsConsumer Discretionary 168,081,140 15.07 Consumer Staples 26,381,369 2.37 Energy 48,252,061 4.34 Financials 263,753,609 23.64 Health Care 45,332,831 4.06 Industrials 53,597,357 4.80 Information Technology 353,979,665 31.73 Materials 45,004,967 4.03 Real Estate 52,020,872 4.66 Telecommunication services 35,839,597 3.21 Others** 23,350,039 2.09 Total 1,115,593,507 100.00


Fund

s Inf

orma

tion

74


30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink China Growth Fund * 1.66% 1.51% 64.77% 76.43%Underlying Fund # ^ 1.71% 1.71% 64.77% 65.80%


* The expense ratio of the underlying fund was included to compute the final ratio.# The expense and turnover ratios of the underlying fund were based on audited accounts.


Borrowings ^ Nil.




Any material information that will adversely impact the valuation of the fund^Nil.

^ Source: Schroders Investment Management Ltd


Fund

s Inf

orma

tion

75



Market ValueS$

% of NetAssets

Unit TrustCapital International European Growth & Income Fund

19,184,859 100.16

Other net assets/(liabilities) (31,559) (0.16) 19,153,300 100.00

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ Eur € AssetsPrudential PLC 18,723,697 3.79Daily Mail & General Trust PLC 16,737,016 3.39Banco Santander SA 14,621,419 2.96Novartis AG 13,906,795 2.82Total SA 13,742,403 2.78Sampo OYJ 13,419,138 2.72Royal Dutch Shell PLC 12,376,760 2.51Barclays PLC 12,071,072 2.45British American Tobacco PLC 11,731,976 2.38Airbus SE 11,700,342 2.37

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ Eur € AssetsBelgium 11,043,760 2.24Denmark 8,936,718 1.81Finland 19,091,948 3.87France 87,966,413 17.82Germany 32,422,945 6.57Ireland 18,905,665 3.83Italy 14,447,694 2.93Netherlands 11,703,153 2.37Norway 5,454,123 1.10Poland 6,721,597 1.36Portugal 5,954,777 1.21Russian Federation 10,776,702 2.18Spain 59,079,679 11.97Switzerland 34,978,118 7.09United Kingdom 143,213,642 29.01Others** 22,889,996 4.64Total 493,586,930 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ Eur € AssetsEquities 470,551,933 95.33Fixed Income Securities 5,417,243 1.10Cash and cash equivalents 17,617,754 3.57Total 493,586,930 100.00

Credit Rating of Debt Securities of Market Value % of NetUnderlying Fund as at 30 June 2018^ Eur € AssetsA 2,946,094 0.60Baa 969,576 0.20Ba 1,501,573 0.30

5,417,243 1.10

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ Eur € AssetsPrudential PLC 19,181,904 4.42Abertis Infraestructuras SA 15,228,277 3.51Sampo OYJ 14,404,706 3.32Prosiebensat.1 Media SE 13,725,344 3.17Imperial Brands PLC 13,676,434 3.15Royal Dutch Shell PLC 13,539,972 3.12Barclays PLC 13,066,520 3.01Novartis AG 12,788,527 2.95Glencore PLC 11,996,634 2.77Banco Santander SA 10,025,952 2.31

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ Eur € AssetsConsumer Discretionary 48,761,474 9.88Consumer Staples 44,179,766 8.95Energy 30,916,191 6.26Financials 109,575,205 22.20Health Care 29,556,402 5.99Industrials 71,995,896 14.59Information Technology 13,013,455 2.64Materials 55,113,082 11.16Real Estate 9,421,800 1.91Telecommunication Services 12,837,216 2.60Utilities 46,693,353 9.46Others** 21,523,090 4.36Total 493,586,930 100.00


Fund

s Inf

orma

tion

76



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink European Equity Fund * 1.47% 0.77% 27.50% 50.00%Underlying Fund # ^ 0.90% 0.90% 27.50% 50.00%




Borrowings ^Nil.


Subscriptions 600,317 Redemptions 973,365



^ Source: Capital International, Inc.

Fund

s Inf

orma

tion

77



Market Value S$

% of Net Assets

Unit TrustAberdeen Global Opportunities Fund - Singapore

101,431,177 99.91


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsVisa Inc 18,351,150 3.18M&T Bank Corporation 17,999,540 3.11Novartis AG 16,898,050 2.92Samsung Electronics Co. Ltd (Pref) 16,120,729 2.79Oracle Corporation 15,698,567 2.72Banco Bradesco SA 15,503,440 2.68Taiwan Semiconductor Manufacturing Co. Ltd

15,030,032 2.60

Henkel AG & Co. KGaA 14,600,834 2.53EOG Resources Inc 14,427,767 2.50Sysmex Corporation 14,353,999 2.48

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsBrazil 15,503,439 2.68Canada 8,749,687 1.51China 9,184,422 1.59Germany 32,089,448 5.55Hong Kong 26,570,128 4.60India 18,428,307 3.19Israel 11,847,538 2.04Italy 6,336,237 1.10Japan 65,930,647 11.41Korea, Republic Of 16,120,729 2.79Mexico 11,540,777 2.00Singapore 6,220,030 1.08Sweden 8,840,913 1.53Switzerland 40,070,319 6.93Taiwan, Province of China 15,030,032 2.60Thailand 10,392,924 1.80United Kingdom 86,500,152 14.97United States 176,688,468 30.57Others** 11,907,822 2.06Total 577,952,019 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ S$ AssetsEquities 571,766,476 98.93Cash and cash equivalents 6,185,543 1.07Total 577,952,019 100.00


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ S$ AssetsRoche Holdings 26,078,675 3.62Novartis AG 25,474,852 3.54EOG Resources Inc 22,729,200 3.16Visa Inc 22,228,856 3.09Shin-Etsu Chemical Co. Ltd 21,999,314 3.06Taiwan Semiconductor Manufacturing Co. Ltd

21,425,062 2.98

Oracle Corporation 21,163,484 2.94M&T Bank Corporation 18,307,492 2.54Vodafone 18,256,725 2.54Samsung Electronics Co. Ltd (Pref) 17,956,759 2.50

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsConsumer Discretionary 38,444,795 6.65Consumer Staples 93,313,732 16.15Energy 40,449,651 7.00Financials 89,714,131 15.52Healthcare 74,545,070 12.90Industrials 43,924,331 7.60Information Technology 120,044,200 20.77Materials 37,426,156 6.47Real Estate 14,607,153 2.53Telecommunication Services 19,297,257 3.34Others** 6,185,543 1.07Total 577,952,019 100.00


Fund

s Inf

orma

tion

78



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Global Opportunities Fund * 1.73% 1.74% 4.94% 7.25%Underlying Fund # ^ 1.74% 1.75% 4.94% 7.25%


* The expense ratio of the underlying fund was included to compute the final ratio.# The expense and turnover ratios of the underlying fund were computed for the period ended 31 March 2018. The ratios for the period ended 30 June 2018 are not available.


Exposure to Derivatives ^ (Underlying Fund)Nil.

Borrowings ^Nil.

Total amount of Subscriptions and Redemptions for the period ended 30 June 2018 S$





Fund

s Inf

orma

tion

79



Market Value S$

% of Net Assets

Unit TrustAB SICAV 1 - Thematic Research Portfolio S1X Class ¹

21,876,026 99.96


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsMSCI Inc. - Class A 22,476,883 2.71Kingspan Group PLC (London) 22,299,922 2.69Hexcel Corporation 20,105,976 2.43Housing Development Finance Corporation Ltd.

19,962,460 2.41

UnitedHealth Group Inc. 19,522,165 2.36Ecolab Inc. 19,519,063 2.35Visa, Inc. - Class A 19,490,922 2.35Xylem Inc./NY 19,033,942 2.30American Water Works Co. Inc. 18,903,762 2.28Infineon Technologies AG 18,067,644 2.18

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsAustria 11,091,402 1.34China 38,082,740 4.59Denmark 15,426,868 1.86France 54,003,072 6.52Germany 32,417,267 3.91Hong Kong 17,783,395 2.14India 55,065,489 6.64Indonesia 17,148,374 2.07Ireland 35,018,457 4.22Japan 16,459,007 1.99Peru 14,547,578 1.76Philippines 11,733,289 1.42Sweden 14,436,477 1.74Switzerland 41,485,125 5.00United Kingdom 12,892,826 1.56United States 412,494,737 49.77Others** 28,772,973 3.47Total 828,859,076 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ US$ AssetsEquities 805,000,959 97.12Other net assets/(liabilities) 23,858,117 2.88Total 828,859,076 100.00

Credit Rating of Debt Securities of Market Value % of NetUnderlying Fund as at 30 June 2018 ^ US$ AssetsNot applicable.

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ US$ AssetsVestas Wind Systems A/S 20,617,484 2.56Housing Development Finance Corporation Ltd

19,992,230 2.49

AIA Group Ltd 19,948,494 2.48Kingspan Group PLC (London) 19,524,106 2.43MSCI Inc. - Class A 18,109,150 2.25Ecolab Inc. 17,701,975 2.20Xylem, Inc./NY 17,626,615 2.19Abbott Laboratories 17,560,057 2.18American Water Works Co. Inc 17,028,519 2.12Bio-Rad Laboratories Inc. - Class A 16,777,120 2.09

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsConsumer Discretionary 58,871,466 7.10Consumer Staples 43,897,001 5.30Financials 160,052,028 19.31Health Care 169,422,391 20.44Industrials 128,168,904 15.46Information Technology 138,418,158 16.70Materials 19,519,063 2.36Real Estate 23,942,152 2.89Utilities 54,565,538 6.58Others** 32,002,375 3.86Total 828,859,076 100.00


Fund

s Inf

orma

tion

80



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Thematic Research Portfolio * 1.71% 1.69% 46.32% 17.93%Underlying Fund # ^ 0.79% 0.76% 46.32% 17.93%


* The expense ratio of the underlying fund was included to compute the final ratio.# The expense and turnover ratios of the underlying fund were computed for the period ended 30 November 2017. The ratios for the period ended 30 June 2018 are not available.The expense and turnover ratios of the underlying fund were based on unaudited draft accounts.

Exposure to Derivatives ^ Market Value % of Net(Underlying Fund) S$ Assets

i) Market value of derivative contracts Foreign Exchange Forward Contracts (807,943) (0.10)

ii) Net gain/(loss) on derivative realised -


Borrowings ^Nil.





^ Source: AllianceBernstein(Singapore) Ltd

Fund

s Inf

orma

tion

81



Market Value S$

% of Net Assets

Unit TrustSchroders ISF Global Equity Alpha Fund - Singapore

108,168,743 99.84


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsAmazon.com Inc. 38,748,822 3.33Facebook Inc. 38,638,864 3.32Alphabet Inc. 37,105,992 3.19Visa Inc. 36,958,798 3.18Texas Instruments Inc. 32,290,436 2.78Danaher Corporation 30,894,230 2.66Intel Corporation 30,223,149 2.60Thermo Fisher Scientific Inc. 30,162,546 2.59JPMorgan Chase & Company 29,997,703 2.58Adobe Systems Inc. 28,824,203 2.48

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsAustria 13,359,403 1.15Canada 14,017,292 1.21China 29,789,766 2.56France 64,940,623 5.58Germany 53,650,245 4.61Hong Kong 19,133,369 1.65India 15,243,933 1.31Italy 13,998,853 1.20Japan 52,699,100 4.53Switzerland 42,038,538 3.61United Kingdom 43,557,159 3.75United States 750,955,096 64.57Others** 49,701,823 4.27Total 1,163,085,200 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ US$ AssetsEquities 1,138,059,623 97.85Cash and cash equivalents 25,025,577 2.15Total 1,163,085,200 100.00

Credit Rating of Debt Securities of Market Value % of NetUnderlying Fund as at 30 June 2018 ^ US$ AssetsNot applicable.

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ US$ AssetsAlphabet Inc. 30,664,838 3.25Citigroup Inc. 28,991,489 3.07Comcast Corporation 27,277,878 2.89JPMorgan Chase & Company 25,459,015 2.70Taiwan Semiconductor Manufacturing Co. Ltd 22,199,559 2.35Reckitt Benckiser Group PLC 21,551,081 2.28Nestle SA 20,152,905 2.14Amazon.com Inc. 20,062,193 2.13Dow Chemical Company 19,926,117 2.11U.S. Bancorp 19,797,451 2.10

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsConsumer Discretionary 164,454,475 14.14Consumer Staples 58,446,082 5.02Energy 73,034,035 6.28Financials 170,711,946 14.68Health Care 138,744,696 11.93Industrials 135,479,822 11.65Information Technology 295,401,916 25.40Materials 76,901,343 6.61Telecommunication services 24,885,308 2.14Others** 25,025,577 2.15Total 1,163,085,200 100.00


Fund

s Inf

orma

tion

82



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Global Equity Alpha Fund * 1.56% 1.70% 69.13% 45.95%Underlying Fund # ^ 0.85% 1.30% 69.13% 45.95%


* The expense ratio of the underlying fund was included to compute the final ratio.# The expense and turnover ratios of the underlying fund were based on audited account.


Borrowings ^Nil.





^ Source: Schroders Investment Management Ltd

Fund

s Inf

orma

tion

83



Market Value S$

% of Net Assets

Unit TrustLionGlobal Short Duration Bond Fund CL A - Singapore

113,346,472 100.19

Other net assets/(liabilities) (219,110) (0.19) 113,127,362 100.00

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsSembcorp Industries Ltd Series MTN Var Perpetual

8,703,437 2.48

United Overseas Bank Limitd Series EMTN Var due 16/09/2026

7,632,016 2.17

Ascendas Hospitality Trust Series MTN 3.3% due 07/04/2020

7,079,800 2.02

Ascott Real Estate Investment Trust MTN Pte Ltd Series MTN 4.205% due 23/11/2022

7,035,053 2.00

Straits Trading Company Ltd Series EMTN 3.73% due 19/07/2021

6,848,213 1.95

CapitaLand Ltd 2.8% due 08/06/2025 6,830,215 1.94ICBC Asia Ltd Series EMTN Var due 10/10/2023

6,355,397 1.81

Mapletree Treasury Services Ltd Series EMTN Var Perpetual

6,317,875 1.80

Standard Chartered PLC Var due 23/01/2026

6,139,440 1.75

ONGC Videsh Ltd 3.25% due 15/7/2019 6,053,862 1.72

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsAustralia 7,320,540 2.08Canada 7,235,313 2.06China 85,411,535 24.32Germany 4,959,700 1.41Hongkong 16,805,838 4.79India 14,387,005 4.10Indonesia 5,204,987 1.48Korea, Republic Of 12,971,110 3.69Malaysia 4,881,265 1.39Netherlands 5,582,143 1.59Singapore 176,285,287 50.20United Kingdom 8,778,385 2.50Accrued Interest Receivable on Debt Securities

3,273,169 0.93

Others** (1,899,368) (0.54)Total 351,196,909 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ S$ AssetsDebt Securities (Include Accrued Interest on Debt Securities)

360,343,539 102.60

Funds 2,424,772 0.69 Derivatives (1,547,704) (0.44)Cash and cash equivalents (10,023,698) (2.85)Total 351,196,909 100.00

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ S$ AssetsDBS Capital Funding Il Corporation Var Perpetual

22,804,760 7.00

Alibaba Group Holding Ltd 3.6% due 28/11/2024

11,408,910 3.50

ICBC Asia Ltd Series EMTN Var due 10/10/2023

7,927,980 2.43

Ascendas Hospitality Trust Series MTN 3.3% due 07/04/2020

7,132,510 2.19

Far East Horizon Ltd 4.25% due 30/10/2017

7,053,480 2.16

CapitaLand Ltd Series Capital 2.95% due 20/06/2022

6,778,688 2.08

ONGC Videsh Ltd 3.25% due 15/7/2019 6,205,163 1.90Overseas Union Enterprise Ltd Series MTN 4.25% due 30/10/2019

6,052,260 1.86

Bank Of East Asia Ltd EMTN 6.125% due 16/07/2020

6,005,847 1.84

Axiata SPV2 Berhad 3.466% due 19/11/2020

5,713,083 1.75

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsBasic Materials 5,303,360 1.51Consumer, Cyclical 10,254,629 2.92Energy 12,439,604 3.54Financials 115,585,680 32.91Industrials 66,285,201 18.88Real Estate 134,894,478 38.41Utilities 6,893,065 1.96Accrued Interest Receivable on Debt Securities

3,273,169 0.93

Others** (3,732,277) (1.06)Total 351,196,909 100.00


Credit Rating of Debt Securities of Market Value % of NetUnderlying Fund as at 30 June 2018 ^ S$ AssetsAaa 1,995,200 0.57Aa2 3,242,275 0.92A1 9,275,986 2.64A2 8,132,360 2.32A3 12,965,440 3.69Baa1 59,706,489 17.00Baa2 67,991,870 19.36Baa3 26,358,505 7.51Ba3 2,713,910 0.77B1 842,588 0.24Not Rated 163,845,747 46.65Accrued Interest Receivable on Debt Securities

3,273,169 0.93

360,343,539 102.60

Fund

s Inf

orma

tion

84



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Short Duration Bond Fund * 0.63% 0.55% 55.00% 26.00%Underlying Fund # ^ 0.61% 0.60% 55.00% 26.00%




i) Market value of derivative contracts Foreign Exchange Forward Contracts (1,386,845) (0.39) Futures (160,859) (0.05)



Borrowings ^Nil.



Related-Party Transactions ^Transaction fees charged by the Trustee was S$ 7,186.Registration fees charged by a related company of the Trustee was S$ 32,366.Valuation and administration fees charged by the Trustee was S$ 122,822.Custodian fees charged by a related company of the Trustee was S$ 60,272.Bank service fees charged by a bank which is a related company of the Trustee was S$ 3,154.Cash transfer fees charged by a related company of the Trustee was S$ 5,798.

The GreatLink Short Duration Bond Fund invests 100% of its net assets value in LionGlobal Short Duration Bond Fund, which is managed by Lion Global Investors Ltd, a related company of The Great Eastern Life Assurance Co. Ltd.


^ Source: Lion Global Inbvestors Ltd

Fund

s Inf

orma

tion

85



Market Value S$

% of Net Assets

Unit TrustLionGlobal Japan Growth Fund SGD-Hedged

10,854,306 99.91


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsSony Corporation 5,731,227 2.58ORIX Corporation 5,268,781 2.37Keyence Corporation 4,851,654 2.19Chiba Bank Ltd 3,999,058 1.80DENSO Corporation 3,777,404 1.70Chugai Pharmaceutical Co. Ltd 3,769,114 1.70Concordia Financial Group Ltd 3,756,723 1.69Suzuki Motor Corporation 3,622,489 1.63Nidec Corporation 3,581,395 1.61Asahi Intecc Co. Ltd 3,553,741 1.60

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsJapan 211,809,518 95.48Others** 10,036,423 4.52Total 221,845,941 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ S$ AssetsEquities 211,809,518 95.48 Derivatives (415,944) (0.19)Cash and cash equivalents 10,452,367 4.71 Total 221,845,941 100.00


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ S$ AssetsConcordia Financial Group Ltd 1,601,766 2.51Keyence Corporation 1,390,599 2.18Chiba Bank Ltd 1,376,507 2.16ORIX Corporation 1,362,464 2.14Sony Corporation 1,244,731 1.95Asahi Intecc Co. Ltd 1,227,303 1.93Koito Manufacturing Co. Ltd 1,111,994 1.74MEIJI Holdings Co. Ltd 1,105,168 1.73Mitsubishi Corporation 1,091,294 1.71Misumi Group Inc. 1,062,792 1.67

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsBasic Materials 14,958,675 6.74Consumer, Cyclical 34,039,241 15.34Consumer, Non-Cyclical 35,273,024 15.90Energy 3,706,746 1.67Financials 25,476,368 11.48Industrials 54,164,290 24.42Real Estate 7,542,206 3.40Technology 36,215,307 16.33Others** 10,470,084 4.72Total 221,845,941 99.99


Fund

s Inf

orma

tion

86



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Lion Japan Growth Fund * 1.60% 1.58% 14.00% 22.00%Underlying Fund # ^ 1.59% 1.65% 14.00% 22.00%




i) Market value of derivative contracts Foreign Exchange Forward Contracts (415,944) (0.19)



Borrowings ^Nil.



Related-Party Transactions ^Interest expenses incurred with a bank which is a related company of the Trustee was S$ 573. Transaction fees charged by a related company of the Trustee was $2,724.Custodian fees charged by a related company of the Trustee was S$ 18,639. Cash transfer fees charged by a related company of the Trustee was S$ 18,368.Bank service fees charged by a bank which is a related company of the Trustee was S$ 52. The GreatLink Lion Japan Growth Fund invests 100% of its net assets value in LionGlobal Japan Growth Fund, which is managed By Lion Global Investors Ltd, a related company of The Great Eastern Life Assurance Co. Ltd.



Fund

s Inf

orma

tion

87



Market Value S$

% of Net Assets

Unit TrustLionGlobal India Fund - Singapore 79,738,321 99.99Other net assets/(liabilities) 4,313 0.01

79,742,634 100.00

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsHousing Development Finance Corporation Ltd 12,858,936 10.50Reliance Industries Ltd 11,344,485 9.26Infosys Technologies Ltd 11,099,401 9.06Tata Consultancy Services Ltd 6,375,757 5.21ITC Ltd 5,689,516 4.65Maruti Suzuki India Ltd 4,710,560 3.85Larsen & Toubro Ltd 4,504,015 3.68ICICI Bank Ltd 4,503,946 3.68Hindustan Unilever Ltd 4,128,043 3.37Mahindra & Mahindra Ltd Ord Inr5 (Demat) 3,951,036 3.23

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsIndia 121,930,639 99.56 Others** 538,788 0.44 Total 122,469,427 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ S$ AssetsEquities 121,930,639 99.56 Cash and cash equivalents 538,788 0.44 Total 122,469,427 100.00


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ S$ AssetsHousing Development Finance Corporation Ltd

13,253,577 9.90

Reliance Industries Ltd 8,473,377 6.33HCL Technologies Ltd 6,890,967 5.15Infosys Technologies Ltd 6,805,018 5.08ITC Ltd 6,683,832 4.99Tata Consultancy Services Ltd 5,762,571 4.30Tata Motors Ltd 5,391,303 4.03HDFC Ltd 5,316,051 3.97Tata Motors Ltd Class A 4,464,553 3.33ICICI Bank Ltd 4,351,089 3.25

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsBasic Materials 8,911,752 7.28 Communications 1,702,810 1.39 Consumer, Cyclical 17,192,709 14.04 Consumer, Non-Cyclical 13,472,789 11.00 Energy 14,270,801 11.65 Financials 29,910,180 24.42 Industrials 8,722,499 7.12 Technology 21,087,247 17.22 Utilities 1,532,533 1.25 Others** 5,666,107 4.63 Total 122,469,427 100.00


Fund

s Inf

orma

tion

88



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Lion India Fund * 1.78% 1.77% 14.00% 124.00%Underlying Fund # ^ 1.51% 1.50% 14.00% 124.00%




i) Market value of derivative contracts - 0.00


iii) Net gain/(loss) on outstanding derivatives -

Borrowings ^Nil.



Related-Party Transactions ^Interest expenses incurred with a bank which is a related company of the Trustee was S$ 4,175. Custodian fees charged by a related company of the Trustee was S$7,694. Bank service fees charged by a bank which is a related company of the Trustee was S$ 970. The GreatLink Lion India Fund invests 100% of its net assets value in LionGlobal India Fund, which is managed By Lion Global Investors Ltd, a related company of The Great Eastern Life Assurance Co. Ltd.



Fund

s Inf

orma

tion

89



Market Value S$

% of Net Assets

Unit TrustJPMorgan Investment Funds - Global Income Fund (SGD-Hedged)

15,510,398 50.45

JPMorgan Funds – Asia Pacific Income Fund (SGD-Hedged)

15,212,333 49.49


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsJPMorgan Global Income Fund SGD-HNovartis AG 206,048,792 0.70Rio Tinto Group 194,274,575 0.66Pfizer Inc 185,443,913 0.63Coca-Cola Co./The 185,443,913 0.63Total SA 185,443,913 0.63Roche Holding AG 147,177,709 0.50Merck & Co. Inc 144,234,154 0.49Allianz 141,290,600 0.48Nextera Energy Inc 135,403,492 0.46Unilever 135,403,492 0.46

JPMorgan Asia Pacific Income Fund SGD-HKorea Electric Power Corporation 72,850,595 2.65Taiwan Semiconductor Manufacturing Co. Ltd

69,001,885 2.51

Australia and New Zealand Banking Group Ltd

67,627,345 2.46

Bangkok Bank PCL 61,029,555 2.22China Life Insurance Co. Ltd (China) 60,754,648 2.21Samsung Electronics Co. Ltd 58,830,292 2.14DBS Group Holdings Ltd 58,830,292 2.14HSBC Holdings PLC 51,407,779 1.87PetroChina Co. Ltd 46,734,344 1.70Shinhan Financial Group Co. Ltd 45,084,897 1.64

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ US$ AssetsJPMorgan Global Income Fund SGD-HGlaxoSmithKline PLC 171,656,857 0.75Unibail-Rodamco SE 162,501,825 0.71Johnson & Johnson 160,213,067 0.70Siemens AG 151,058,035 0.66British American Tobacco PLC 141,903,002 0.62Microsoft Corporation 141,903,002 0.62Occidental Petroleum Corporation 139,614,244 0.61Pfizer Inc. 125,881,695 0.55HSBC Holdings PLC 125,881,695 0.55UPM 123,592,937 0.54

JPMorgan Asia Pacific Income Fund SGD-HKorea Electric Power Corporation 79,997,436 3.26Bangkok Bank PCL 75,089,618 3.06CK Hutchison Holdings Ltd 74,353,445 3.03HSBC Holdings PLC 73,862,663 3.01China Mobile Ltd 57,912,254 2.36CNOOC Ltd 48,096,618 1.96DBS Group Holdings Ltd 46,378,882 1.89LG Uplus Corporation 45,642,709 1.86Yuanta Financial Holdings Co. Ltd 44,661,145 1.82Huaneng Power International Inc. 44,170,363 1.80

Fund

s Inf

orma

tion

90


Credit Rating of Debt Securities of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsJPMorgan Global Income Fund SGD-HAAA 2,290,551,699 7.78AA 85,106,982 0.29A 184,887,581 0.63BBB 2,011,752,966 6.83<BBB 9,796,107,075 33.28Not Rated 305,211,245 1.04

14,673,617,548 49.85

JPMorgan Asia Pacific Income Fund SGD-HAA 2,749,079 0.10A 140,203,033 5.10BBB 376,623,833 13.70<BBB 346,383,964 12.60Not Rated 109,963,163 4.00

975,923,072 35.50

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsJPMorgan Global Income Fund SGD-HCanada 647,581,918 2.20Emerging Markets 3,856,055,966 13.10Europe ex-UK 4,591,944,509 15.60Japan 323,790,959 1.10United Kingdom 1,854,439,128 6.30United States 16,778,258,781 57.00Others** 1,383,470,461 4.70Total 29,435,541,722 100.00

JPMorgan Asia Pacific Income Fund SGD-HAustralia 218,276,879 7.94China 1,044,650,048 38.00Hong Kong 293,326,737 10.67India 73,675,319 2.68Indonesia 123,708,558 4.50Korea, Republic Of 274,083,184 9.97Philippines 37,387,476 1.36Singapore 189,136,640 6.88Taiwan, Province Of China 166,044,376 6.04Thailand 117,660,585 4.28Others** 211,129,273 7.68Total 2,749,079,075 100.00


Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsJPMorgan Global Income Fund SGD-HNot applicable.

JPMorgan Asia Pacific Income Fund SGD-HConsumer Discretionary 10,996,316 0.40Consumer Staples 27,490,791 1.00Energy 87,970,530 3.20Financials 681,771,611 24.80Fixed Income Securities 975,923,072 35.50Industrials 173,191,982 6.30Information Technology 197,933,693 7.20Materials 41,236,186 1.50Real Estate 184,188,298 6.70Telecommunication Services 79,723,293 2.90Utilities 126,457,638 4.60Others** 162,195,665 5.90Total 2,749,079,075 100.00


Allocation By Asset Class of Underlying Fund Market Value % of Netas at 30 June 2018 ^ US$ AssetsJPMorgan Global Income Fund SGD-HGlobal Equity 4,656,702,700 15.82Global REITs 1,486,494,857 5.05European Equity 2,769,884,476 9.41Emerging Markets Equity 2,060,487,921 7.00Preferred Equity 2,763,997,368 9.39US Investment Grade 594,597,943 2.02Convertible Bonds 2,272,423,821 7.72Non Agency Mortgages 1,265,728,294 4.30High Yield 8,933,686,912 30.35Emerging Markets Debt 1,607,180,578 5.46Cash and cash equivalents 1,024,356,852 3.48Total 29,435,541,722 100.00

JPMorgan Asia Pacific Income Fund SGD-HEquities 1,610,960,338 58.60 Fixed Income Securities 975,923,072 35.50Cash and cash equivalents 162,195,665 5.90Total 2,749,079,075 100.00

Fund

s Inf

orma

tion

91



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Income Focus Fund * 1.62% 1.61% 24.56% 33.93%Underlying Fund - JPMorgan Global Income Fund SGD-H # ^

1.45% 1.45% 49.12% 67.86%

Underlying Fund - JPMorgan Asia Pacific Income Fund SGD-H # ^

1.79% 1.78% 0.00% 0.00%


* The expense ratio of the underlying fund was included to compute the final ratio.# The expense ratios of the underlying funds JPMorgan Global Income fund SGD-H and JPMorgan Asia Pacific Income Fund SGH-H were computed for the period ended 31 December

2017, based on unaudited draft accounts and audited accounts respectively. The ratios for the period ended 30 June 2018 are not available in time for publication.

Exposure to Derivatives ^ Market Value % of Net(Underlying Fund) Eur€ Assets

JPMorgan Global Income Fund SGD-H¹i) Market value of derivative contracts Forward Foreign Exchange Contracts 174,195,584 0.74 Futures 7,777,354 0.03



Market Value % of Net US$ Assets

JPMorgan Asia Pacific Income Fund SGD-H²i) Market value of derivative contracts Foreign Exchange Forward Contracts 8,070,931 0.31



Borrowings ^Nil.





^ Source: JPMorgan Asset Management (Singapore) Ltd . There will be some slight/negligible differences due to decimal rounding issues.1 The information is based on the Fund's AUM 23,693,980,219 (in EUR terms), which is extracted from the JPMorgan Investment Funds' audited annual

report dated 31 December 2017. The information as at 30 June 2018 is not available in time for publication.2 The information is based on the Fund's AUM 2,638,947,047 (in USD terms), which is extracted from the JPMorgan Investment Funds' unaudited semi-

annual report dated 31 December 2017 The information as at 30 June 2018 is not available in time for publication.

Fund

s Inf

orma

tion

92


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ S$ AssetsAberdeen Pacific Equity FundAberdeen China Opportunities Fund 151,136,390 10.20 Aberdeen Global - Indian Equity Fund # 141,700,552 9.56 Aberdeen Singapore Equity Fund 125,978,654 8.50 Samsung Electronics Co. Ltd (Pref) 72,972,888 4.92 Jardine Strategic Holdings Ltd 68,957,615 4.65 Aberdeen Indonesia Equity Fund 58,067,827 3.92 Taiwan Semiconductor Manufacturing Co. Ltd

54,150,866 3.65

Aberdeen Thailand Equity Fund 51,841,584 3.50 AIA Group Ltd 47,376,048 3.20 Rio Tinto 39,557,072 2.67

# The underlying fund is not authorised for public sale in Singapore.

LionGlobal Singapore Fixed Income Investment Class AGovernment of Singapore 3.5% due 01/03/2027

7,578,900 7.33

Government of Singapore 2.875% due 01/09/2030

7,211,700 6.98

Government of Singapore 3% due 01/09/2024

4,779,300 4.62

DBS Capital Funding Il Corporation Var Perpetual

4,405,465 4.26


3,480,750 3.37


3,192,300 3.09


3,012,750 2.92


2,892,770 2.80

Housing & Development Board Series MTN 2.505% due 27/06/2024

2,815,258 2.72


2,265,800 2.19


Market Value S$

% of Net Assets

Unit TrustAberdeen Pacific Equity Fund 30,057,226 50.22LionGlobal Singapore Fixed Income Investment CL A - Singapore

29,770,881 49.74


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsAberdeen Pacific Equity FundAberdeen Global - Indian Equity Fund # 111,167,453 7.39 Aberdeen Singapore Equity Fund 109,788,942 7.30 Samsung Electronics Co. Ltd (Pref) 87,712,667 5.83 Aberdeen China Opportunities Fund 81,458,731 5.42 Taiwan Semiconductor Manufacturing Co. Ltd

65,546,609 4.36

Tencent Holdings Ltd 60,545,380 4.03 AIA Group Ltd 48,341,547 3.21 China Resources Land Ltd 47,758,644 3.18 Aberdeen Thailand Equity Fund 47,747,430 3.17 Aberdeen Indonesia Equity Fund 46,280,863 3.08

# The underlying fund is not authorised for public sale in Singapore.

LionGlobal Singapore Fixed Income Investment Class AGovernment of Singapore 3.5% due 01/03/2027

7,016,750 7.32


6,654,700 6.94

Government of Singapore 3% due 01/09/2024

4,609,755 4.81


3,858,750 4.02


3,028,962 3.16


2,997,750 3.13


2,922,600 3.05

Housing & Development Board Series MTN 2.505% due 27/06/2024

2,484,650 2.59

Public Utilities Board 3.62% due 12/10/2027

2,143,300 2.23

City Developments Ltd Series MTN 3.78% due 21/10/2024

2,054,560 2.14

Fund

s Inf

orma

tion

93


Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsAberdeen Pacific Equity FundAustralia 69,262,120 4.61 China 252,926,846 16.82 Hong Kong 203,862,847 13.55 India 153,100,078 10.18 Indonesia 73,374,108 4.88 Korea, Republic Of 148,770,656 9.89 Malaysia 28,312,170 1.88 Philippines 57,347,987 3.81 Singapore 221,491,294 14.73 Taiwan, Province Of 81,370,214 5.41 Thailand 47,747,430 3.17 United Kingdom 123,933,597 8.24 United States 26,943,836 1.79 Others** 15,689,055 1.04 Total 1,504,132,238 100.00


LionGlobal Singapore Fixed Income Investment Class ACanada 1,956,760 2.04China 2,538,598 2.65Hong Kong 3,066,912 3.20Malaysia 1,525,140 1.59Singapore 79,717,775 83.11Accrued interest receivable on Fixed Income Securities

794,534 0.83

Others** 6,312,878 6.58Total 95,912,597 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ S$ AssetsAberdeen Pacific Equity FundEquities 1,492,889,426 99.25 Cash and cash equivalents 11,242,812 0.75 Total 1,504,132,238 100.00

LionGlobal Singapore Fixed Income Investment Class AFixed Income Securities (including accrued interest receivable on Fixed Income securities)

91,378,902 95.27

Funds 505,002 0.53Cash and cash equivalents 4,028,693 4.20Total 95,912,597 100.00

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsAberdeen Pacific EquityConsumer Discretionary 26,943,836 1.79 Consumer Staples 30,008,139 2.00 Financials 321,001,806 21.34 Healthcare 32,214,337 2.14 Industrials 72,242,079 4.80 Information Technology 260,394,976 17.31 Materials 133,546,402 8.88 Real Estate 131,047,773 8.71 Telecommunication Services 60,734,489 4.04 Unit Trusts 424,755,589 28.24 Others** 11,242,812 0.75 Total 1,504,132,238 100.00


LionGlobal Singapore Fixed Income Investment Class ACommunications 3,067,870 3.20Financials 18,335,565 19.12Industrials 5,297,670 5.52Real Estate 26,732,959 27.87Sovereign/Statutory Board 36,882,822 38.45Accrued interest receivable on Fixed Income Securities

794,534 0.83

Others** 4,801,177 5.01Total 95,912,597 100.00


Credit Rating of Debt Securities of Market Value % of NetUnderlying Fund as at 30 June 2018 ^ S$ AssetsLionGlobal Singapore Fixed Income Investment Class AAaa 18,963,121 19.77A1 2,282,348 2.38A3 2,529,807 2.64Baa1 252,057 0.26Baa2 1,545,720 1.61Baa3 1,018,070 1.06Not Rated 63,993,245 66.72Accrued interest receivable on Fixed Income securities

794,534 0.83

91,378,902 95.27

Fund

s Inf

orma

tion

94



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Lion Asian Balanced Fund * 1.35% 1.34% 12.99% 8.52%Underlying Fund - Aberdeen Pacific Equity Fund # ^

1.68% 1.75% 9.97% 3.04%

Underlying Fund - LionGlobal Singapore Fixed Income Investment Class A # ^

0.67% 0.67% 16.00% 14.00%


* The expense and turnover ratios of the two underlying funds based on 50% of investments into each underlying fund were included to compute the final ratio.# The expense and turnover ratios of the underlying fund - Aberdeen Pacific Equity were computed for the period ended 31 March 2018 based on unaudited draft accounts. The

ratios for the period ending 30 June 2018 are not available. The expense and turnover ratios of the underlying fund - LionGlobal Singapore Fixed Income Investment Class A were based on unaudited draft accounts.


Aberdeen Pacific EquityNil

LionGlobal Singapore Fixed Income Investment Class Ai) Market value of derivative contracts - 0.00

ii) Net gain/(loss) on derivative realised 943

iii) Net gain/(loss) on outstanding derivatives -

Borrowings ^Nil.



Related-Party TransactionsThe GreatLink Lion Asian Balanced Fund invests 50.22% of its net assets value in Aberdeen Pacific Equity Fund and 49.74% of its net assets in LionGlobal Singapore Fixed Income Investment Class A, which is managed by Lion Global Investors Ltd, a related company of The Great Eastern Life Assurance Co. Ltd.

LionGlobal Singapore Fixed Income Investment Class AInterest expenses incurred from a bank which is a related company of the Trustee was S$ 345.Transaction fees charged by the Trustee was S$ 2,504.Custodian fees charged by a related company of the Trustee was S$ 20,838.Registration fees charged by a related company of the Trustee was S$ 12,008.Valuation and administration fees charged by the Trustee was S$ 50,180.Cash transfer fees charged by a related company of the Trustee was S$ (4,714) due to overpayment.


^ Source: Aberdeen Asset Management Asia Ltd, Lion Global Investors LtdThe published information pertaining Aberdeen Pacific Equity Fund is extracted from Aberdeen Select Portfolio Semi-Annual Report and Financial Statements for the period 1 October 2017 to 31 March 2018.

Fund

s Inf

orma

tion

95



Market Value S$

% of Net Assets

Unit TrustLionGlobal Vietnam Fund - Singapore 12,074,058 100.00 Other net assets/(liabilities) (4) -

12,074,054 100.00

Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsHoa Phat Group JSC 12,793,303 13.27Vietnam Dairy Products JSC 11,232,554 11.65Vingroup JSC 8,820,265 9.15Mobile World Investment Corporation 7,920,215 8.21Vincom Retail JSC 6,325,873 6.56Joint Stock Commercial Bank for Foreign Trade of Vietnam

5,454,086 5.66

Airports Corporation Of Vietnam 5,282,550 5.48Masan Group Corporation 4,814,318 4.99Ho Chi Minh Infrastructure Investment JSC 4,712,578 4.89Pan Group JSC 4,012,903 4.16

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsVietnam 87,740,614 91.00Others** 8,675,761 9.00 Total 96,416,375 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ S$ AssetsEquities 87,740,614 95.49Derivative 97 0.00Cash and cash equivalents 8,675,664 4.51Total 96,416,375 100.00


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ S$ AssetsVietnam Dairy Products JSC 13,452,846 13.45Hoa Phat Group JSC 13,439,049 13.44Vingroup JSC 10,455,616 10.46Masan Group Corporation 8,367,895 8.37Mobile World Investment Corporation 8,252,070 8.25Joint Stock Commercial Bank for Foreign Trade of Vietnam

7,495,169 7.50

Ho Chi Minh Infrastructure Investment JSC 6,759,775 6.76KIDO Group Corporation 5,540,593 5.54FPT Corporation 3,771,443 3.77Refrigeration Electrical Engineering Corporation

3,341,455 3.34

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsBasic Materials 12,793,303 13.27Consumer, Cyclical 7,920,215 8.21Consumer, Non Cyclical 22,054,780 22.87Energy 2,338,448 2.43Financials 10,593,820 10.99Industrials 12,827,456 13.30Real Estate 15,445,664 16.02Technology 3,766,928 3.91Others** 8,675,761 9.00Total 96,416,375 100.00


Fund

s Inf

orma

tion

96



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Lion Vietnam Fund * 1.88% 1.93% 13.00% 5.00%Underlying Fund # ^ 1.86% 1.91% 13.00% 5.00%




i) Market value of derivative contracts 97 0.00


iii) Net gain/(loss) on outstanding derivatives 97

Borrowings ^Not applicable.



Related-Party Transactions ^Interest expenses incurred with a bank which is a related company of the Trustee was S$ 653.Transaction fees charged by the Trustee was S$ 5,776.Registration fee charged by a related company of the Trustee was S$ 14,663.Valuation and administration fees charged by the Trustee was S$ 19,656.Custodian fees charged by a related company of the Trustee was S$ 50,654.Cash transfer fees charged by a related company of the Trustee was S$ 34,894.Bank service fees charged by a bank which is a related company of the Trustee was S$ 1,341.Cash and bank balances placed with a financial institution related to the Trustee as at 30 June 2018 were amounted to $9,589,107.

The GreatLink Lion Vietnam Fund invests 100% of its net assets value in LionGlobal Vietnam Fund, which is managed by Lion Global Investors Ltd, a related company of The Great Eastern Life Assurance Co. Ltd.



Fund

s Inf

orma

tion

97



Market Value S$

% of Net Assets

Unit TrustFidelity Global Emerging Markets Fund SR-ACC-SGD

120,465,741 99.95


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsNaspers Ltd 499,587,130 5.85AIA Group Ltd 496,741,794 5.82HDFC Bank Ltd 416,995,786 4.89Taiwan Semiconductor Manuafacturing Co. Ltd

376,004,958 4.41

Sberbank of Russia (USD) 363,746,025 4.26Alibaba Group Holdings ADR 347,784,471 4.07Housing Development Finance Corporation Ltd

302,284,621 3.54

Samsung Electronics Co. Ltd 249,950,868 2.93SK Hynix Inc 211,010,167 2.47Glencore PLC 179,283,846 2.10

Allocation By Country of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsBrazil 166,338,725 1.95China 1,824,051,024 21.37Hong Kong 954,541,027 11.18India 860,906,334 10.09Indonesia 187,512,191 2.20Ireland 319,536,658 3.74Korea, Republic Of 704,128,986 8.25Mexico 182,669,506 2.14Russia 726,596,652 8.51South Africa 870,441,444 10.20Switzerland 179,283,846 2.10Taiwan, Province Of China 571,858,763 6.70Turkey 88,799,020 1.04United Arabic Emirates 111,501,753 1.31United Kingdom 112,640,335 1.32United States 87,982,543 1.03Others** 586,327,367 6.87Total 8,535,116,174 100.00


Allocation By Asset Class of Underlying Market Value % of NetFund as at 30 June 2018 ^ S$ AssetsEquities 7,864,452,669 92.14Open-ended Fund 319,536,658 3.75Derivatives 3,570,823 0.04Cash and cash equivalents 347,556,024 4.07Total 8,535,116,174 100.00


Top 10 Holdings of Underlying Fund Market Value % of Netas at 30 June 2017 ^ S$ AssetsTaiwan Semiconductor Manufacturing Co. Ltd

414,539,055 6.21

Naspers Ltd 373,253,345 5.60AIA Group Ltd 353,066,868 5.29HDFC Bank Ltd 339,037,605 5.08Samsonite International SA (A) 224,267,957 3.36Steinhoff International Holdings Ltd 222,422,473 3.33SK Hynix Inc 188,943,322 2.83Gree Electric Appliances Inc. of Zhuhai (A) 161,477,165 2.42JD.com Inc 160,814,711 2.41Housing Development Finance Corporation Ltd

147,096,998 2.21

Allocation By Industry of Underlying Fund Market Value % of Netas at 30 June 2018 ^ S$ AssetsConsumer Discretionary 1,714,976,743 20.09Consumer Staples 549,822,866 6.44Energy 173,511,417 2.03Equity-linked Notes 124,477,154 1.46Financials 2,926,876,313 34.29Healthcare 201,369,521 2.36Industrials 115,253,159 1.35Information Technology 1,501,331,808 17.59Materials 542,907,856 6.36Open-ended Fund 319,536,658 3.75Others** 365,052,679 4.28Total 8,535,116,174 100.00


Fund

s Inf

orma

tion

98



30 June 2018 30 June 2017 30 June 2018 30 June 2017GreatLink Global Emerging Markets Equity Fund * 1.74% 1.71% 92.89% 112.89%Underlying Fund # ^ 1.72% 1.72% 92.89% 112.89%


* The expense ratio of the underlying fund was included to compute the final ratio. # The expense and turnover ratios of the underlying fund were computed for the period ended 30 April 2018. The ratios for the period ended 30 June 2018 are not available. The expense and turnover ratios of the underlying fund were based on audited accounts.


i) Market value of derivative contracts Foreign Exchange Forward Contracts 698,801 0.01 Contract for Difference 2,872,022 0.03



Borrowings ^Bank overdrafts of S$ 19.08, which is negligible percentage of the underlying fund's NAV as of 30 June 2018.


Subscriptions 7,239,804Redemptions 1,668,047



^ Source: Fidelity Worldwide Investment

99

Funds managed by Lion Global Investors LtdThe soft dollar commissions from various brokers for the period were utilised on research and advisory services, economic and political analyses, portfolio analyses, market analyses, data and quotation analyses and computer hardware and software used for and in support of the investment process of fund managers. Goods and services received were for the benefit of the scheme and there was no churning of trades. These brokers also execute trades for other funds managed by the managers. The trades are conducted on best available terms and in accordance with best practices.

Fund managed by AllianceBernstein (Singapore) Ltd **For the period ended 30 June 2018, the Investment Manager does receive and has entered into soft-dollar commissions/arrangements with brokers relating to portfolios of the Underlying Fund that invest in equity securities, in respect of which certain goods and services used to support the investment decision making process were received. The soft commission arrangements were entered into on the basis that the execution of transactions on behalf of the Underlying Fund will be consistent with best execution standards and brokerage rates will not be in excess of customary institutional full-service brokerage rates. The goods and services received include specialist industry, company and consumer research, portfolio and market analysis and computer software used for the delivery of such services.

The nature of the goods and services received is such that the benefits provided under the arrangement must be those which assist in the provision of investment services to the Underlying Fund and may contribute to an improvement in the Underlying Fund's performance.

For the avoidance of doubt, such goods and services do not include travel, accommodations, entertainment, general administrative goods or services, general office equipment or premises, membership fees, employees' salaries or direct money payments. Disclosure of soft commission arrangements will be made in the periodic reports of the Underlying Fund.

** AllianceBernstein (Singapore) Ltd has confirmed that their Investment Professionals are strictly prohibited from engaging in any portfolio or market manipulative practices, including, but not limited to churning of trade. The Investment Manager will not enter into unnecessary trades in order to qualify for soft-dollar commissions/arrangements.

Fund managed by JPMorgan Asset Management (Singapore) Ltd **The Investment Managers may enter into commission sharing arrangements only where there is a direct and identifiable benefit to the clients of the Investment Managers, including the SICAV, and where the Investment Managers are satisfied that the transactions generating the shared commissions are made in good faith, in strict compliance with applicable regulatory requirements and in the best interests of the SICAV and the Shareholders. Any such arrangements must be made bythe Investment Manager on terms commensurate with best market practice. Due to their local regulatory rights, certain Investment Managers may make use of soft commission to pay for research or execution services. Other jurisdictions may have other arrangements in place to pay for such services in accordance with local regulatory obligations.

** JPMorgan Asset Management (Singapore) Limited has confirmed that their Investment Professionals are strictly prohibited from engaging in any portfolio or market manipulative practices, including, but not limited to churning of trade. The Investment Manager will not enter into unnecessary trades in order to qualify for soft-dollar commissions/arrangements.

SOFT DOLLAR COMMISSIONS report as at 30 June 2018

Soft

Dolla

r Com

miss

ions

100

Soft

Dolla

r Com

miss

ions


Fund managed by Schroders Investment Management (Singapore) LtdIn the management of the Fund, the Manager may accept soft dollar commissions from, or enter into soft dollar arrangements with, stockbrokers who execute trades on behalf of the Fund and the soft dollars received are restricted to the following kinds of services:

(i) research, analysis or price information;(ii) performance measurement;(iii) portfolio valuations; and(iv) administration services.

The Manager may not receive or enter into soft dollar commissions or arrangements unless (a) such soft dollar commissions or arrangements shall reasonably assist the Manager in their management of the Fund, (b) best execution is carried out for the transactions, and (c) that no unnecessary trades are entered into in order to qualify for such soft dollar commissions or arrangements. The Manager shall not receive goods and services such as travel, accommodation and entertainment.

Fund managed by Capital International, Inc.Nil.

Fund managed by Aberdeen Asset Management Asia LtdNil.

Fund managed by Goldman Sachs (Singapore) Pte LtdNil.

Soft

Dolla

r Com

miss

ions


Fund managed by Fidelity Worldwide InvestmentThe Investment Manager and any of its delegates may effect transactions by or through the agency of another person with whom the Investment Manager and any of its delegates have an arrangement under which that party will from time to time provide to or procure for the Investment Manager and any of its delegates goods, services or other benefits (such as research and advisory services, where permitted by regulation only), the nature of which is such that their provision can reasonably be expected to benefit the Fund as a whole and may contribute to an improvement in the performance of the Fund and that of the Investment Manager or any of its delegates in providing services to the Fund and for which no direct payment is made but instead the Investment Manager and any of its delegates undertake to place business with that party. For the avoidance of doubt, such goods and services do not include travel, accommodation, entertainment, general administrative goods or services, general office equipment or premises, membership fees, employee salaries or direct money payments.The Investment Manager and any of its delegates shall not retain the benefit of any cash commission rebate (being repayment of a cash commission made by a broker or dealer to the Investment Manager and/or any delegates) paid or payable from any such broker or dealer in respect of any business placed with such broker or dealer by the Investment Manager or any of its delegates for or on behalf the Fund. Any such cash commission rebate from any such broker or dealer will be held by the Investment Manager and any of its delegates for the account of the Fund. Brokerage rates will not be excessive of customary brokerage rates. All transactions will be done with best execution.

With respect to Fidelity Global Emerging Markets Fund SR-ACC-SGD that is included under the CPF Investment Scheme, a broker or dealer with whom the Investment Manager and/or any sub-manager has an arrangement as described above may execute trades for other collective Investment schemes managed by the Investment Manager and/or any sub-manager. The Investment Manager confirms that the trades were executed in accordance with the Investment Manager’s best execution policy and there was no churning of trades.

101

Capit

al Ac

coun

tCAPITAL ACCOUNT (Unaudited) for the period ended 30 June 2018

102

GreatLink Cash Fund

GreatLink ASEAN Growth

Fund

GreatLink Asia Pacific Equity

Fund

GreatLink Global Supreme

Fund

GreatLink Asia High Dividend Equity Fund

GreatLink European

Equity Fund

S$ S$ S$ S$ S$ S$

Value of Fund at beginning of the period 38,666,340 280,446,485 598,278,463 376,343,768 37,425,471 19,817,947

Amount paid to the Fund for creation of units 6,123,360 6,616,044 8,820,065 1,632,488 8,899,251 600,317

Amount paid by the Fund for redemption of units (7,433,760) (10,323,206) (21,143,927) (13,074,154) (5,963,689) (973,365)

Net cash into/(out of) the Fund (1,310,400) (3,707,162) (12,323,862) (11,441,666) 2,935,562 (373,047)

Investment Income

Interest 365,481 1 - 1,862,379 - -

Dividends - 5,035,250 - 2,162,043 699,995 -

Other income - 191,407 268,184 85,293 - -

365,481 5,226,658 268,184 4,109,715 699,995 -

Fund Expenses

Management fees (58,904) (2,125,682) (2,819) (2,530,822) (758) (63,554)

Custody fees (1,909) (13,976) (64,981) (24,400) (4,089) (2,147)

Other expenses - - - - - -

(60,813) (2,139,658) (67,800) (2,555,222) (4,847) (65,701)

Net income/(loss) 304,668 3,087,000 200,384 1,554,493 695,148 (65,701)

Net gains/(losses) on investments

Realised gains/(losses) from investments sold (43,302) 5,210,111 4,760,050 13,605,679 429,157 83,420

Unrealised appreciation/(depreciation) in value of investments

(52,134) (29,321,296) (23,094,919) (9,340,290) (2,717,062) (308,676)

Net gains/(losses) on foreign exchange 20,067 2,347 - (706,003) - (643)

Net gains/(losses) in fair value on derivatives (17,425) 6,585 - 1,584,828 - -

(92,794) (24,102,253) (18,334,869) 5,144,214 (2,287,905) (225,899)

Less: Income Tax - (368,372) - (585,264) - -

Less: Distribution - - - - (699,829) -

Value of Fund atend of the period 37,567,814 255,355,698 567,820,116 371,015,545 38,068,447 19,153,300

Capit

al Ac

coun

t

CAPITAL ACCOUNT (Unaudited) for the period ended 30 June 2018

103

GreatLink Global Equity

Fund

GreatLink Global

Optimum Fund

GreatLink Global

Technology Fund

GreatLink Global Growth

Trends Portfolio

GreatLink Global Bond

Fund

GreatLink Global

Opportunities Fund

S$ S$ S$ S$ S$ S$


Amount paid to the Fund for creation of units 581,411 101,067 9,932,340 384,762 5,491,242 693,342

Amount paid by the Fund for redemption of units (2,700,652) (1,345,839) (5,673,703) (1,381,113) (6,643,662) (1,925,529)

Net cash into/(out of) the Fund (2,119,241) (1,244,773) 4,258,637 (996,351) (1,152,420) (1,232,187)

Investment Income

Interest - 245,736 3,468 - 2,420,988 -

Dividends 716,825 - 414,726 - - -

Other income 43,917 1,377 16,258 - 7,036 14,975

760,742 247,113 434,452 - 2,428,024 14,975

Fund Expenses

Management fees (566,317) (170,525) (932,064) (98,891) (1,162,763) -

Custody fees (3,683) (1,590) (5,864) (2,413) (14,111) (11,189)

Other expenses (167) - - - - -

(570,167) (172,115) (937,928) (101,304) (1,176,874) (11,189)

Net income/(loss) 190,575 74,998 (503,476) (101,304) 1,251,150 3,786


Realised gains/(losses) from investments sold 3,528,115 (4,579) 10,134,970 574,640 97,013 869,293


(774,557) (247,947) 625,642 (137,381) (2,907,528) (3,044,522)

Net gains/(losses) on foreign exchange 21,302 144,859 58,746 - (44,983) -

Net gains/(losses) in fair value on derivatives (15,146) (12,400) 2,461 - 1,611,022 -

2,759,714 (120,067) 10,821,819 437,259 (1,244,476) (2,175,229)

Less: Income Tax (204,541) (367) (61,670) - - -

Less: Distribution - - - - - -


Capit

al Ac

coun


104

GreatLink Far East Ex-Japan Equities Fund

GreatLink Singapore

Equities Fund


GreatLink Short Duration

Bond Fund

GreatLink Global

Real Estate Securities Fund

GreatLink Lion Japan Growth

Fund

S$ S$ S$ S$ S$ S$


Amount paid to the Fund for creation of units 1,609,884 7,403,089 999,785 18,583,958 10,961,724 1,721,578


Net cash into/(out of) the Fund (1,529,751) (2,987,328) (581,185) 11,169,241 2,077,482 (468,759)

Investment Income

Interest 5 - 7 - - -

Dividends 884,701 - - 1,600,707 1,233,279 -

Other income 19,451 70 2,301 - 4,863,368 6,493

904,157 70 2,308 1,600,707 6,096,647 6,493

Fund Expenses

Management fees (481,361) - (403,033) (726) (2,333,340) (5,905)

Custody fees (4,294) (18,052) (11,792) (11,954) (14,950) (1,247)

Other expenses - - - - (360) -

(485,655) (18,052) (414,825) (12,680) (2,348,650) (7,152)

Net income/(loss) 418,502 (17,982) (412,517) 1,588,027 3,747,997 (659)


Realised gains/(losses) from investments sold 3,616,362 2,013,355 762,327 (123,835) (4,425,103) 360,049


(5,986,983) (9,101,195) 1,097,251 (2,083,048) 7,942,651 (914,240)

Net gains/(losses) on foreign exchange (7,864) - (4,526) - 55,875 -

Net gains/(losses) in fair value on derivatives (7,046) - - - (10,089) -

(2,385,531) (7,087,840) 1,855,052 (2,206,883) 3,563,334 (554,191)

Less: Income Tax (72,615) - - - (1,396,368) -

Less: Distribution - - - - - -


Capit

al Ac

coun

t

CAPITAL ACCOUNT (Unaudited) for the period ended 30 June 2018

105

GreatLink China Growth

Fund


GreatLink Income Focus

Fund

GreatLink Lion Asian Balanced

Fund


GreatLink Global

Emerging Markets

Equity Fund

S$ S$ S$ S$ S$ S$


Amount paid to the Fund for creation of units 6,412,479 1,585,180 11,399,603 2,925,152 1,704,761 7,239,804


Net cash into/(out of) the Fund (4,941,045) (3,946,501) 2,352,536 (340,144) (1,301,804) 5,571,757

Investment Income

Interest 6 - - - - -

Dividends - - 743,445 - - -

Other income 95,530 - 3,801 - 102 -

95,536 - 747,246 - 102 -

Fund Expenses

Management fees - (103,227) - (48,576) - (784)

Custody fees (21,003) (9,064) (3,499) (6,674) (1,432) (13,600)

Other expenses (79) - - - - -

(21,082) (112,291) (3,499) (55,250) (1,432) (14,384)

Net income/(loss) 74,454 (112,291) 743,747 (55,250) (1,330) (14,384)


Realised gains/(losses) from investments sold 2,235,360 867,540 (42,894) 628,036 1,231,066 475,470


3,988,212 (6,185,378) (1,632,238) (2,159,144) (759,909) (7,771,664)

Net gains/(losses) on foreign exchange 73 - - - - -

Net gains/(losses) in fair value on derivatives - - - - - -

6,223,645 (5,317,838) (1,675,132) (1,531,108) 471,157 (7,296,194)

Less: Income Tax - - - - - -

Less: Distribution - - (849,989) - - -


Capit

al Ac

coun


106





GreatLink Lifestyle Dynamic Portfolio

S$ S$ S$ S$ S$

Value of Fund at beginning of the period 72,566,180 30,995,717 417,250,631 93,545,304 31,858,590

Amount paid to the Fund for creation of units 7,027,521 1,118,635 8,084,819 3,506,976 1,186,919

Amount paid by the Fund for redemption of units (4,944,372) (2,561,375) (10,540,492) (3,213,378) (1,774,763)

Net cash into/(out of) the Fund 2,083,149 (1,442,740) (2,455,673) 293,598 (587,844)

Investment Income

Interest 384,979 136,595 1,271,528 158,961 1

Dividends 204,170 43,255 286,249 - -

Other income 5,287 3,901 43,706 12,212 4,919

594,436 183,751 1,601,483 171,173 4,920

Fund Expenses

Management fees (200,088) (77,903) (856,360) (150,882) (31,413)

Custody fees (5,470) (2,542) (38,020) (9,384) (3,554)

Other expenses - - - - -

(205,558) (80,445) (894,380) (160,266) (34,967)

Net income/(loss) 388,878 103,306 707,103 10,907 (30,047)


Realised gains/(losses) from investments sold 122,272 104,759 1,802,779 531,752 220,622


(2,843,157) 1,146,455 (873,957) (938,247) 397,621

Net gains/(losses) on foreign exchange (7,322) (2,676) (26,375) (3,788) (352)

Net gains/(losses) in fair value on derivatives 256,180 90,896 846,123 105,778 -

(2,472,027) 1,339,434 1,748,570 (304,505) 617,891

Less: Income Tax - - - - -

Less: Distribution - - - - -

Value of Fund atend of the period 72,566,180 30,995,717 417,250,631 93,545,304 31,858,590

Asse

ts an

d Liab

ilities

STATEMENT OF ASSETS AND LIABILITIES (Unaudited) as at 30 June 2018

107

GreatLink Cash Fund

GreatLink ASEAN Growth

Fund


GreatLink Global

Supreme Fund

GreatLink Asia High Dividend

Equity Fund

GreatLink European

Equity Fund

S$ S$ S$ S$ S$ S$

INVESTMENT PORTFOLIO

Equities - 249,149,601 - 180,787,743 - -

Fixed Income Securities 19,437,226 - - 158,867,258 - -

Investments in funds - - 567,734,761 - 37,738,579 19,184,859

Value of Investments 19,437,226 249,149,601 567,734,761 339,655,001 37,738,579 19,184,859

CURRENT ASSETS

Fixed deposits 6,000,694 - - 114,534 - -

Cash at bank 8,926,642 7,475,856 58,984 6,159,921 3,023 35,915

Short term instruments 1,971,550 - - 35,366,785 - -

Accrued interest 151,547 - - 1,144,778 - -

Dividend receivable - 326,305 - 245,189 347,671 -

Due from brokers - 257,272 921,880 11,915,794 387,542 14,675

Financial derivatives at fair value 6,503 - - 1,635,167 - -

Embedded derivatives at fair value 1,252,187 - - - - -

Other assets - - 98,507 - - 14

Total Assets 37,746,349 257,209,034 568,814,132 396,237,169 38,476,815 19,235,463

CURRENT LIABILITIES

Due to brokers 92,409 810,756 994,016 22,855,770 406,010 49,671

Financial derivativesat fair value 39,320 140 - 1,016,221 - -

Other liabilities 46,806 1,042,440 - 1,349,633 2,358 32,492

Value of fund at end of the period 37,567,814 255,355,698 567,820,116 371,015,545 38,068,447 19,153,300

Units in issue 28,952,864 82,051,906 233,288,166 210,265,438 40,693,152 17,773,954

Net Asset Valueper Unit 1.297 3.112 2.433 1.764 0.935 1.077

Asse

ts an

d Liab

ilities


108

GreatLink Global Equity

Fund

GreatLink Global

Optimum Fund

GreatLink Global

Technology Fund

GreatLink Global Growth

Trends Portfolio

GreatLink Global Bond

Fund

GreatLink Global

Opportunities Fund

S$ S$ S$ S$ S$ S$


Equities 68,908,485 - 117,036,888 - - -

Fixed Income Securities - 18,302,027 - - 276,729,811 -

Investments in funds - 12,617,861 - 21,876,026 - 101,431,177


CURRENT ASSETS

Fixed deposits - - - - 4,053,683 -

Cash at bank 1,171,269 530,066 2,036,251 78,059 2,057,472 33,943

Short term instruments - - - - 27,393,983 -

Accrued interest - 116,809 - - 1,648,935 -

Dividend receivable 49,859 - 120,696 - - -

Due from brokers 114,759 - 1,942,643 41,161 18,180,798 191,887

Financial derivatives at fair value - 21,880 691 - 2,329,904 -

Embedded derivatives at fair value - - - - - -

Other assets - - - - - 1,813

Total Assets 70,244,372 31,588,643 121,137,169 21,995,246 332,394,586 101,658,820

CURRENT LIABILITIES

Due to brokers 151,775 96,983 1,092,499 61,398 55,640,262 141,307

Financial derivativesat fair value 292 11,925 23 - 6,178,974 -

Other liabilities 277,675 101,963 464,953 50,044 572,506 -


Units in issue 58,062,443 24,565,170 96,938,283 14,780,888 167,446,215 86,673,656


Asse

ts an

d Liab

ilities


109

GreatLink Far East Ex-Japan

Equity Fund

GreatLink Singapore

Equity Fund


GreatLink Short Duration

Bond Fund

GreatLink Global

Real Estate Securities

Fund

GreatLink Lion Japan

Growth Fund

S$ S$ S$ S$ S$ S$


Equities 55,639,598 - - - 301,166,833 -

Fixed Income Securities - - - - - -

Investments in funds - 154,094,215 108,168,743 113,346,472 - 10,854,306


CURRENT ASSETS

Fixed deposits - - - - - -

Cash at bank 3,406,029 17,389 317,149 11,401 1,415,123 962

Short term instruments - - - - - -

Accrued interest - - - - - -

Dividend receivable 288,655 - - - 939,850 -

Due from brokers 204,659 263,488 169,064 400,518 874,186 13,366

Financial derivatives at fair value 241 - - - - -


Other assets - - - - - -

Total Assets 59,539,182 154,375,092 108,654,956 113,758,391 304,395,992 10,868,634

CURRENT LIABILITIES

Due to brokers 3,462 269,098 102,369 624,559 - 4,497

Financial derivativesat fair value - - - 3,278 -

Other liabilities 234,000 9,080 206,808 6,470 1,169,027 312


Units in issue 23,514,391 69,123,816 94,110,311 81,244,238 337,995,596 11,007,891


Asse

ts an

d Liab

ilities


110

GreatLink China Growth

Fund

GreatLink Lion India

Fund

GreatLink Income Focus

Fund

GreatLink Lion Asian Balanced

Fund


GreatLink Global

Emerging Markets

Equity Fund

S$ S$ S$ S$ S$ S$


Equities - - - - - -

Fixed Income Securities - - - - - -

Investments in funds 188,477,086 79,738,321 30,722,731 59,828,107 12,074,058 120,465,741


CURRENT ASSETS

Fixed deposits - - - - - -

Cash at bank 295,329 88,133 3,236 102,102 1,221 8,707

Short term instruments - - - - - -

Accrued interest - - - - - -

Dividend receivable - - - - - -

Due from brokers 529,280 86,910 113,794 129,417 77,396 203,899

Financial derivatives at fair value - - - - - -


Other assets 36,917 - 108 - - -

Total Assets 189,338,612 79,913,364 30,839,869 60,059,626 12,152,675 120,678,347

CURRENT LIABILITIES

Due to brokers 891,084 116,155 98,157 177,494 77,943 142,920

Financial derivativesat fair value - - - - - -

Other liabilities - 54,575 - 27,675 678 7,140


Units in issue 118,862,078 63,483,718 37,250,343 54,587,306 13,544,922 86,774,032


Asse

ts an

d Liab

ilities


111

GreatLink Lifestyle Secure

Portfolio



GreatLink Lifestyle Progressive

Portfolio

GreatLink Lifestyle Dynamic Portfolio

S$ S$ S$ S$ S$


Equities - - - - -

Fixed Income Securities 44,004,848 15,613,384 145,340,878 18,169,776 -

Investments in funds 29,648,136 15,758,821 275,278,546 75,756,400 31,833,000

Value of Investments 73,652,984 31,372,205 420,619,424 93,926,176 31,833,000

CURRENT ASSETS

Fixed deposits 644,606 228,713 2,129,029 266,160 -

Cash at bank 342,478 127,726 1,307,229 202,900 28,560

Short term instruments 4,356,119 1,545,597 14,387,556 1,798,659 -

Accrued interest 262,209 93,035 866,035 108,267 -

Dividend receivable - - - - -

Due from brokers 2,967,548 1,057,852 10,051,528 1,321,686 53,763

Financial derivatives at fair value 370,495 131,456 1,223,686 152,979 -

Embedded derivatives at fair value - - - - -

Other assets 1,367 1,148 11,925 3,507 1,467

Total Assets 82,597,806 34,557,732 450,596,412 97,780,334 31,916,790

CURRENT LIABILITIES

Due to brokers 8,949,471 3,174,630 29,669,227 3,752,445 41,641

Financial derivativesat fair value 982,564 348,624 3,245,251 405,705 -

Other liabilities 99,591 38,761 431,303 76,880 16,559

Value of fund at end of the period 72,566,180 30,995,717 417,250,631 93,545,304 31,858,590

Units in issue 43,046,828 19,166,847 246,864,209 54,966,683 21,559,424

Net Asset Valueper Unit 1.685 1.617 1.690 1.701 1.477

NOTES TO THE ACCOUNTSNo

tes to

the A

ccou

nts

112

1 GENERALThe GreatLink Funds comprise:

Direct FundsGreatLink Cash FundGreatLink ASEAN Growth FundGreatLink Global Supreme FundGreatLink Global Equity FundGreatLink Global Optimum FundGreatLink Global Technology FundGreatLink Global Bond FundGreatLink Far East Ex Japan Equities FundGreatLink Global Real Estate Securities Fund

Feeder FundsGreatLink Asia Pacific Equity FundGreatLink Asia High Dividend Equity FundGreatLink European Equity FundGreatLink Thematic Research PortfolioGreatLink Global Opportunities Fund GreatLink Singapore Equities FundGreatLink Global Equity Alpha Fund GreatLink Short Duration Bond FundGreatLink Lion Japan Growth Fund GreatLink Lion India Fund GreatLink Income Focus FundGreatLink Lion Asian Balanced FundGreatLink Lion Vietnam FundGreatLink China Growth FundGreatLink Global Emerging Markets Equity Fund

Fund of Funds (Lifestyle Portfolios) ^GreatLink Lifestyle Secure PortfolioGreatLink Lifestyle Steady PortfolioGreatLink Lifestyle Balanced PortfolioGreatLink Lifestyle Progressive PortfolioGreatLink Lifestyle Dynamic Portfolio

^ The Lifestyle Portfolios invest in existing GreatLink Funds, namely GreatLink Global Bond Fund, GreatLink Global Opportunities Fund, GreatLink Global Equity Alpha Fund, GreatLink Asia Pacific Equity Fund, GreatLink Short Duration Bond Fund and GreatLink Global Emerging Markets Equity Fund.

2 SIGNIFICANT ACCOUNTING POLICIESa. Basis of accounting The financial statements are expressed in Singapore dollars, and are prepared in accordance with the historical cost convention,

except for investments and derivatives which are carried at fair value.

b. Recognition of income and expenses Dividend income is recognised when the shareholders' right to receive payment is established. Interest income is recognised

using the effective interest method.

Expenses are recognised on an accrual basis.

c. Investments All purchases of investments are recognised on their trade dates, i.e., the date the commitment exists to purchase the

investments. The investments are initially recorded at fair value (or cost representing fair value on trade date) which would include transaction costs directly attributable to the acquisition of the investments. After initial recognition, the unrealised gains or losses on remeasurement to fair value are taken to the capital account. Fair value is determined by using open market valuation at the year-end date. The closing price has been adopted for all investments except for quoted equity investments. For equity investments traded on exchanges, fair value is derived from the last traded price on the respective exchange.

NOTES TO THE ACCOUNTS

Notes

to th

e Acc

ounts

113

Certain investments have been valued using valuation techniques based on assumptions that are supported by prices from observable current market transactions. The valuation of these investments have either been provided by brokers or counterparties or valued using internal models.

d. Realised gains/losses from sale of investments All sales of investments are recognised on their trade dates i.e., the date the fund commits to sell the investments. Realised gains/losses from sale of investments are taken to the Capital Account.

e. Foreign currency transactions Foreign currency transactions are translated into Singapore dollars at exchange rates prevailing at the transaction dates and

foreign currency monetary assets and liabilities are translated at the approximate rates ruling at year end. Differences on exchange are included in the Capital Account.

f. Derivative financial instruments All derivatives including embedded derivatives are carried at fair value. All fair value changes on derivatives are taken to the

Capital Account. The closing price has been adopted for the valuation of derivatives.

3 DERIVATIVES The GreatLink Funds enter into derivative contracts for the purposes of hedging foreign currency and interest risk exposures,

and efficient portfolio management. The derivative contracts traded include foreign exchange forward contracts, foreign exchange spot contracts, futures and rights.

Notional Amount Fair ValueAsset

Fair Value(Liability)

S$ S$ S$Foreign exchange forward contractsGreatLink Cash Fund 2,214,673 6,503 (39,320)GreatLink Global Supreme Fund 107,060,891 1,367,816 (839,592)GreatLink Global Equity Fund 35,994 - (292)GreatLink Global Optimum Fund 2,245,438 21,880 (11,925)GreatLink Global Technology Fund 258,423 394 (23)GreatLink Global Bond Fund 635,465,677 2,060,714 (5,490,013)

Futures purchasedGreatLink Global Supreme Fund 50,504,217 266,586 (175,845)GreatLink Global Bond Fund 122,139,667 269,190 (688,961)

Foreign exchange spot contractsGreatLink Asean Growth Fund 521,631 - (140)GreatLink Global Supreme Fund 445,096 509 (783)GreatLink Global Technology Fund 258,449 297 - GreatLink Far East Ex Japan Equities Fund 119,542 241 - GreatLink Global Real Estate Securities Fund 1,062,825 - (3,278)

Rights purchasedGreatLink Global Supreme Fund 525 255 -

4 MANAGEMENT FEES Management fees are payable to The Great Eastern Life Assurance Company Limited and its related company, Lion Global

Investors Limited.

5 DISTRIBUTION TO POLICY HOLDERS GreatLink Asia High Dividend Equity Fund and GreatLink Income Focus Fund has made distributions of $699,829 and $849,989

respectively to policyholders during the financial period.

No other sub-fund made any distribution to policyholders for the period ended 30 June 2018.

114


115




(Annualised)5 years




(Annualised)






















-

















To provide capital growth by investing in equities of People's Republic of China,Hong Kong SAR and Taiwan companies.




-










-


To achieve medium to long-term capital appreciation by investing in Vietnam.The Fund will invest in companies listed in Vietnam and other companies listed elsewhere that have operations in, or derive part of their revenue from Vietnam and the Indo-China





MC

I (P

) 105

/01/

2018




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