PRESS RELEASEAPRIL 13, 2017

NIKKO ASSET MANAGEMENT CO., LTD.

Nikko Asset Management recognised as Japan’s Fund Houseof the Year
AsianInvestor has recognised Nikko Asset Management (Nikko AM) as Japan’s 2017 Fund House of the Year for
generating strong returns in Japan’s negative interest rate environment. This is the sixth time in seven years that thefirm has won the award*. Nikko AM’s actively managed Japanese equity strategies demonstrated a record ofinvestment excellence that drove growth in assets under management (AUM) throughout 2016.
“The Bank of Japan’s negative interest rate policy provided new challenges for investors in 2016,” said Hiroki Tsujimura,
Chief Investment Officer - Japan. “We believe one of our core competitive advantages is the progressive nature of ourinvestment solutions. Performance has been outstanding across a breadth of different styles and market cycles, with
11 out of our 15 major Japanese equity strategies ranked in the top quartile among peers over a five year period.”
In response to the Bank of Japan’s introduction of negative interest rates, the Tokyo-headquartered asset manager
offered a series of U.S. and European fixed income products managed by the firm’s London-based Global Fixed
Income Team. In fiscal 2016, the firm’s Japanese institutional business saw net inflows of JPY 932 billion, placing it
second in Japan for the private placement of funds**.
AsianInvestor also recognised Nikko AM’s success in growing assets under management by nearly 8 percent to JPY
19.93 trillion (USD 170.9 billion) by December 2016 from a year prior. Its ETF assets also jumped 29 percent year-overyear to more than JPY 4 trillion (USD 34.4 billion) over the same period. Nikko AM is the only Asia-based asset
manager to have received an A+ in the governance category for Japanese equities from PRI.
Further details on the awards can be found at the AsianInvestor website:
http://www.asianinvestor.net/category/awards/190* This award is based on past performance and does not guarantee future investment performance.
** As of December 31 2016.

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About Nikko Asset Management
With US$170.9 billion* (19.93 trillion yen) under management, Nikko Asset Management is one of Asia’s largest asset
managers, providing high-conviction, active fund management across a range of Equity, Fixed Income, Multi-Assetand Alternative strategies. In addition, its complementary range of passive strategies covers more than 20 indices andincludes some of Asia’s largest exchange-traded funds (ETFs).
Headquartered in Asia for nearly 60 years, the firm represents more than 200** investment professionals and over 30
nationalities across 11 countries. More than 300 banks, brokers, financial advisors and life insurance companies
around the world distribute the company’s products.
The investment teams benefit from a unique global perspective complemented by the firm's historic Asian DNA,
striving to deliver consistent excellence in performance. The firm also prides itself on its progressive solution-driven
approach, which has led to many innovative funds launched for its clients.
For more information about Nikko Asset Management and to access our investment insights, please visit our
homepage.
* Consolidated assets under management and sub-advisory of Nikko Asset Management and its subsidiaries as of December 31, 2016.
** As of December 31, 2016, including employees of Nikko Asset Management and its subsidiaries.

Important Information
This document is prepared by Nikko Asset Management Co., Ltd. and/or its affiliates (Nikko AM) and is for distribution only undersuch circumstances as may be permitted by applicable laws. This document does not constitute investment advice or a personal
recommendation and it does not consider in any way the suitability or appropriateness of the subject matter for the individual
circumstances of any recipient.
This document is for information purposes only and is not intended to be an offer, or a solicitation of an offer, to buy or sell any
investments or participate in any trading strategy. Moreover, the information in this material will not affect Nikko AM’s
investment strategy in any way. The information and opinions in this document have been derived from or reached from sources
believed in good faith to be reliable but have not been independently verified. Nikko AM makes no guarantee, representation or
warranty, express or implied, and accepts no responsibility or liability for the accuracy or completeness of this document. No
reliance should be placed on any assumptions, forecasts, projections, estimates or prospects contained within this document.
This document should not be regarded by recipients as a substitute for the exercise of their own judgment. Opinions stated inthis document may change without notice.
In any investment, past performance is neither an indication nor guarantee of future performance and a loss of capital may occur.
Estimates of future performance are based on assumptions that may not be realised. Investors should be able to withstand theloss of any principal investment. The mention of individual stocks, sectors, regions or countries within this document does not
imply a recommendation to buy or sell.
Nikko AM accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of thisdocument, provided that nothing herein excludes or restricts any liability of Nikko AM under applicable regulatory rules or
requirements.
All information contained in this document is solely for the attention and use of the intended recipients. Any use beyond that
intended by Nikko AM is strictly prohibited.
Japan: The information contained in this document pertaining specifically to the investment products is not directed at persons
in Japan nor is it intended for distribution to persons in Japan. Registration Number: Director of the Kanto Local Finance Bureau(Financial Instruments firms) No. 368 Member Associations: The Investment Trusts Association, Japan/Japan Investment Advisers
Association/Japan Securities Dealers Association.
United Kingdom and rest of Europe: This document constitutes a financial promotion for the purposes of the Financial Services
and Markets Act 2000 (as amended) (FSMA) and the rules of the Financial Conduct Authority (the FCA) in the United Kingdom (theFCA Rules).
This document is communicated by Nikko Asset Management Europe Ltd, which is authorised and regulated in the United
Kingdom by the FCA (122084). It is directed only at (a) investment professionals falling within article 19 of the Financial Services
and Markets Act 2000 (Financial Promotions) Order 2005, (as amended) (the Order) (b) certain high net worth entities within themeaning of article 49 of the Order and (c) persons to whom this document may otherwise lawfully be communicated (all such
persons being referred to as relevant persons) and is only available to such persons and any investment activity to which it relates
will only be engaged in with such persons.

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United States: This document is for information purposes only and is not intended to be an offer, or a solicitation of an offer, tobuy or sell any investments. This document should not be regarded as investment advice. This document may not be duplicated,
quoted, discussed or otherwise shared without prior consent. Any offering or distribution of a Fund in the United States may only
be conducted via a licensed and registered broker-dealer or a duly qualified entity. Nikko Asset Management Americas, Inc. is a
United States Registered Investment Adviser.
Singapore: This document is for information only with no consideration given to the specific investment objective, financial
situation and particular needs of any specific person. You should seek advice from a financial adviser before making any
investment. In the event that you choose not to do so, you should consider whether the investment selected is suitable for you.
Nikko Asset Management Asia Limited is a regulated entity in Singapore.
Hong Kong: This document is for information only with no consideration given to the specific investment objective, financial
situation and particular needs of any specific person. You should seek advice from a financial adviser before making any
investment. In the event that you choose not to do so, you should consider whether the investment selected is suitable for you.
The contents of this document have not been reviewed by the Securities and Futures Commission or any regulatory authority in
Hong Kong. Nikko Asset Management Hong Kong Limited is a licensed corporation in Hong Kong.
Australia: Nikko AM Limited ABN 99 003 376 252 (Nikko AM Australia) is responsible for the distribution of this information inAustralia. Nikko AM Australia holds Australian Financial Services Licence No. 237563 and is part of the Nikko AM Group. This
material and any offer to provide financial services are for information purposes only. This material does not take into account theobjectives, financial situation or needs of any individual and is not intended to constitute personal advice, nor can it be relied
upon as such. This material is intended for, and can only be provided and made available to, persons who are regarded as
Wholesale Clients for the purposes of section 761G of the Corporations Act 2001 (Cth) and must not be made available or passed
on to persons who are regarded as Retail Clients for the purposes of this Act. If you are in any doubt about any of the contents,
you should obtain independent professional advice.
New Zealand: Nikko Asset Management New Zealand Limited (Company No. 606057, FSP22562) is the licensed Investment
Manager of Nikko AM NZ Investment Scheme and the Nikko AM NZ Wholesale Investment Scheme.
This material is for the use of researchers, financial advisers and wholesale investors (in accordance with Schedule 1, Clause 3 of
the Financial Markets Conduct Act 2013 in New Zealand). This material has been prepared without taking into account a potential
investor’s objectives, financial situation or needs and is not intended to constitute personal financial advice, and must not be
relied on as such. Recipients of this material, who are not wholesale investors, or the named client, or their duly appointed agent,should consult an Authorised Financial Adviser and the relevant Product Disclosure Statement or Fund Fact Sheet (available on
our websitewww.nikkoam.co.nz).
Kingdom of Bahrain: The document has not been approved by the Central Bank of Bahrain which takes no responsibility for its
contents. No offer to the public to purchase the Strategy will be made in the Kingdom of Bahrain and this document is intended
to be read by the addressee only and must not be passed to, issued to, or shown to the public generally.
Kuwait: This document is not for general circulation to the public in Kuwait. The Strategy has not been licensed for offering in
Kuwait by the Kuwaiti Capital Markets Authority or any other relevant Kuwaiti government agency. The offering of the Strategy in
Kuwait on the basis a private placement or public offering is, therefore, restricted in accordance with Decree Law No. 7 of 2010
and the bylaws thereto (as amended). No private or public offering of the Strategy is being made in Kuwait, and no agreement
relating to the sale of the Strategy will be concluded in Kuwait. No marketing or solicitation or inducement activities are being
used to offer or market the Strategy in Kuwait.
Kingdom of Saudi Arabia: This document is communicated by Nikko Asset Management Europe Ltd (Nikko AME), which isauthorised and regulated by the Financial Services and Markets Act 2000 (as amended) (FSMA) and the rules of the Financial
Conduct Authority (the FCA) in the United Kingdom (the FCA Rules). This document should not be reproduced, redistributed, orsent directly or indirectly to any other party or published in full or in part for any purpose whatsoever without a prior written
permission from Nikko AME.
This document does not constitute investment advice or a personal recommendation and does not consider in any way thesuitability or appropriateness of the subject matter for the individual circumstances of any recipient. In providing a person withthis document, Nikko AME is not treating that person as a client for the purposes of the FCA Rules other than those relating tofinancial promotion and that person will not therefore benefit from any protections that would be available to such clients.
Nikko AME and its associates and/or its or their officers, directors or employees may have or have had positions or materialinterests, may at any time make purchases and/or sales as principal or agent, may provide or have provided corporate financeservices to issuers or may provide or have provided significant advice or investment services in any investments referred to in thisdocument or in related investments. Relevant confidential information, if any, known within any company in the Nikko AM groupor Sumitomo Mitsui Trust Bank group and not available to Nikko AME because of regulations or internal procedure is not reflectedin this document. The investments mentioned in this document may not be eligible for sale in some states or countries, and they
may not be suitable for all types of investors.
Oman: The information contained in this document nether constitutes a public offer of securities in the Sultanate of Oman as
contemplated by the Commercial companies law of Oman (Royal decree 4/74) or the Capital Markets Law of Oman (Royal
Decree80/98, nor does it constitute an offer to sell, or the solicitation of any offer to buy non-Omani securities in the Sultanate of
Oman as contemplated by Article 139 of the Executive Regulations to the Capital Market law (issued by Decision No. 1/2009). This
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document is not intended to lead to the conclusion of any contract of whatsoever nature within the territory of the Sultanate of
Oman.
Qatar (excluding QFC): The Strategies are only being offered to a limited number of investors who are willing and able toconduct an independent investigation of the risks involved in an investment in such Strategies. The document does notconstitute an offer to the public and should not be reproduced, redistributed, or sent directly or indirectly to any other party or
published in full or in part for any purpose whatsoever without a prior written permission from Nikko Asset Management Europe
Ltd (Nikko AME). No transaction will be concluded in your jurisdiction and any inquiries regarding the Strategies should be madeto Nikko AME.
United Arab Emirates (excluding DIFC): This document and the information contained herein, do not constitute, and is notintended to constitute, a public offer of securities in the United Arab Emirates and accordingly should not be construed as such.
The Strategy is only being offered to a limited number of investors in the UAE who are (a) willing and able to conduct an
independent investigation of the risks involved in an investment in such Strategy, and (b) upon their specific request.
The Strategy has not been approved by or licensed or registered with the UAE Central Bank, the Securities and Commodities
Authority or any other relevant licensing authorities or governmental agencies in the UAE. This document is for the use of thenamed addressee only and should not be given or shown to any other person (other than employees, agents or consultants inconnection with the addressee's consideration
thereof).
No transaction will be concluded in the UAE and any inquiries regarding the Strategy should be made to Nikko AssetManagement Europe Ltd.

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