August 5, 2014

Press Release
Nikko Asset Management Co., Ltd.

Nikko Asset Management Adds Global Equity Capability to Investment SuiteHighly experienced global equity team underscores Nikko AssetManagement's commitment to being a premier global asset manager

The addition of a highly experienced global active equity capability is Nikko AssetManagement's latest move in fortifying its investment offering to clients, the company
announced today. The Tokyo-based firm has brought in a team of six portfolio managers, ledby William Low, who previously managed the high-alpha equity team at Scottish Widows
Investment Partnership (now owned by Aberdeen Asset Management).
"We are excited that we have been able to attract this highly successful investment team in anarea where we believe we can add value to clients' portfolios," said Yu-Ming Wang, global
head of investment at Nikko Asset Management. "The track record that Will Low and his fivecolleagues have assembled demonstrates that they are exceptionally qualified as active global
equity managers, and we look forward to their contribution to our European business."
In 2001, while at BlackRock, Low formed and led an EAFE* team that was known for its strongalpha track record. In 2011, Low joined Scottish Widows Investment Partnership, where he led
the formation of a global equity team that included Stephen Corr, James Kinghorn, GreigBryson, Iain Fulton and Johnny Russell. From its inception, the team provided an excellent
alpha track record in global equities in addition to continuing to manage EAFE mandates.
"We are delighted that Nikko Asset Management will be the new home for our team. We clearlyshare a vision for making global equities a key source of growth for the overall firm," Lowcommented. "We've been impressed with Nikko Asset Management's commitment to providing
world-class investment products to clients, and this arrangement allows us to do what we dobest, which is concentrate on well-researched, high-conviction ideas to deliver alpha in global
equity strategies for our clients."
The team, which manages benchmark-agnostic, long-only global equity portfolios, will continue
to be based in Edinburgh, Scotland, and will work closely with Nikko Asset Management's fullservice European headquarters in London, covering sales and marketing, client service,
operations, information technology, legal and trading functions.
Nikko Asset Management has been expanding its investment capabilities recently. In October
2013, it acquired a specialist Asian equity team from Sydney-based Treasury Asia AssetManagement, and in March 2014 it brought in a multi-asset capability, which is based inSingapore.
-ENDS-_______________________________* EAFE: Europe, Australasia, Far East** Past performance should not be considered indicative or a guarantee of future results.

About Nikko Asset Management
Nikko Asset Management (Nikko AM) is a leader in the Asian financial services industry, with $158
billion in assets under management as of March 31, 2014. Established in 1959, the firm has
representation across 24 locations in 12 countries and enjoys one of the largest distributor networks
in the region, serving both retail and institutional clients. More than 300 banks, brokers, financial
advisors and life insurance companies distribute the company’s products.
Nikko AM manages a wide range of equity and fixed income strategies in both active and passive
formats, leveraging the talents of over 250 investment professionals. In 2013 alone, Nikko AM wonawards for excellence in asset management from Lipper, Morningstar, Mercer, AsianInvestor, R&I,
among others.
The company’s management team is highly diverse and experienced, and is committed to runningthe company according to international best practices. Nikko AM’s independence from thelimitations imposed on many captive asset management companies allows it to focus on theinterests of clients. At the same time, the company enjoys a stable base of shareholders, withmajority ownership held by Sumitomo Mitsui Trust Holdings and a smaller stake by DBS Bank.
For more information, please visit http://en.nikkoam.com/* Consolidated assets under management and sub-advisory of Nikko AM and its subsidiaries as of 31 Mach 2014. AUM
figures are converted into US dollars using the month-end exchange rate.
** Represents the 24 locations of Nikko AM and its overseas subsidiaries and affiliates (including minority joint ventures)
across 12 countries.