April 24, 2014

Press Release
Nikko Asset Management Co., Ltd.

AsianInvestor Recognizes Nikko Asset Management with Two Awards
Nikko Asset Management has been recognized for excellence in two
categories in AsianInvestor's Investment Performance Awards 2014:
Japan Fund House of the Year and Offshore/CNH Bonds. This is thefourth consecutive year for Nikko Asset Management to be named
Japan Fund House of the year, and the first time it has been recognizedin the Offshore/CNH Bonds category.
In Japanese equities, the average return of Nikko Asset Management's three top-performing funds
for domestic investors doubled the market return of over 50% as represented by the Nikkei 225
index. This helped the company increase AUM by approximately 30%, from JPY13.3 trillion toJPY17 trillion (as of Dec. 31, 2013).
In fixed income, Nikko Asset Management was one of the first asset managers to provide an
offshore RMB strategy, in November 2010, shortly after the market was liberalized. The strategy
aims to provide absolute returns and targets primarily a diversified portfolio of RMB-denominatedbonds, providing stable capital appreciation over the medium to long term with little concentration
risk.
"We are very pleased to prevail in two of AsianInvestor's Investment Performance Awards 2014.
Being named Japan Fund House of the Year for the fourth consecutive time is especially meaningful,as it shows great consistency in our approach and performance," said Hiroki Tsujimura, CIO Japan
at the Tokyo-based firm.
"We are positioning Nikko Asset Management to be Asia's premier global asset managementcompany, and this recognition validates that we are delivering superior performance to clients,"
noted Yu-Ming Wang, Head of Global Investment of the firm noted.
AsianInvestor will bestow the awards on the winners at its Gala Awards Dinner on May 22, 2014 atthe Ritz Carlton Hotel in Hong Kong.
-ENDSFurther details on the awards can be found at the Asian Investor website:
http://www.asianinvestor.net/Category/190,awards.aspx* This award is based on past performance and does not guarantee future investment performance.

Nikko Asset Management Co., Ltd.
Midtown Tower, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6242, Japan
www.nikkoam.com
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■Risk Information○ Investment trust principal is not guaranteed and invests in assets for which prices fluctuate(assets denominated in foreign currencies also bear exchange rate risks), therefore NAV willfluctuate. It is possible that the NAV will fall below the principal amount of your investment.
Profits and losses made by the management of investment trusts all belong to the beneficiaries.
Investment trusts differ from deposits and savings.
○ Different investment trusts invest in different asset classes, markets, and countries, andcontain different investment restrictions, so the details of their risks differ accordingly.
■Outline of Fees, etc.
Investors must bear the following expenses:<Fees charged at the time of subscription and redemption>●Subscription Fees : Up to 4.32% (4.0% before tax)
● Redemption Fees : Up to 1.08% (1.0% before tax)
● Amount Retained in Trust Assets:
Up to 0.5%
< Fees and expenses charged indirectly through the trust assets (i.e. paid by the Fund)>● Trust Fees (annual) :Up to 3.20% (3.12% before tax)
Some fund charge a performance fee based on investment
performance, etc.
●Other Expenses:
Brokerage commission with respect to securities held in the portfolio,audit fees, interest on borrowings and advances, and fees related tosecurities lending etc.
* The rate or maximum amounts applicable to other fees andexpenses cannot be disclosed in advance because the actual
amount will vary depending on the state of the assets managed.
* The total amount of fees above will vary depending on the length of investment period andother factors. Therefore, we cannot give a specific total.
* For more detail, please refer to the investment trust explanatory document (prospectus
distributed in advance of purchase).
<Disclaimer>○ Fees, etc. listed are the highest rates among those charged to the investment trusts
managed by Nikko Asset Management (as of the date this document was created).
○ The risk information and fees, etc. disclosed above are those typical for a generalinvestment trust. Actual fees will vary for each specific investment trust. For more detail,please refer to the investment trust explanatory document (prospectus distributed inadvance of subscription).
■Other matters to Consider○ These marketing materials were prepared for the purpose of providing information on theinvestment trusts managed by Nikko Asset Management and promoting investors’
understanding of this Fund.
○ Unlike bank deposits or insurance policies, investment trusts are not protected by the Deposit
Insurance Corporation or the Insurance Policyholders Protection Corporations. In addition,
when purchased from registered financial institutions such as banks, investment trusts are noteligible for payments from the Japan Investor Protection Fund.
○ Your distributor will provide you with an investment trust explanatory document (prospectus
distributed in advance of purchase) when you submit your application for this Fund. Pleasetake the time to read its content carefully.

Nikko Asset Management Co., Ltd.
Midtown Tower, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6242, Japan
www.nikkoam.com
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Matters to consider regarding investment advisory andagreements

discretionary investment

Investment based on a discretionary investment agreement and advice based on an
investment advisory agreement mainly involve securities, such as equities and bonds,
whose prices fluctuate (foreign currency securities have an exchange rate fluctuation risk aswell), so the net asset value (NAV) of your investment assets will fluctuate and may fall
below your principal investment.

Major risks involved in these agreements are:1) Price fluctuation risk, 2) liquidity risk, 3) credit risk, 4) exchange rate fluctuation risk, 5)
country risk, 6) derivative risk, and 7) risks unique to market neutral and long/shortstrategies
Fees and other expenses
Investment Advisory Fees
An investment advisory fee, which serves as the fee for the investment advisory agreement and thediscretionary investment agreement, up to a maximum of 3.24% p.a. (3.0% before tax) will becharged against the balance of investment assets according to the period under management.
Depending on the content of the agreement, a contingent fee may be charged in addition to thefixed fee.
Other fees
As for other fees, brokerage fees for portfolio stocks may be incurred.
In cases where investment trusts are bought based on a discretionary investment agreement, otherfees may be incurred, such as a trust fee on the investment trusts, commissions on the amountreserved for trust assets, incorporation and redemption, brokerage fees for portfolio stocks,
custodian fees, management fees, audit fees, fund establishment fees, interest rate of borrowings
or borrowed stock fees.
<Disclaimer>* Contingent fees and other fees vary depending on investment strategies and management
conditions; therefore it is not possible to specify the amount of those fees and the limit beforehand.
* The risks and fees mentioned above differ depending on individual agreements. We urge you toread the pre-agreement reminder thoroughly before you sign an agreement.

Nikko Asset Management Co., Ltd.
Midtown Tower, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6242, Japan
www.nikkoam.com
3About Nikko Asset Management
Nikko Asset Management (Nikko AM) is a leader in the Asian financial services industry, with over $160 billion
in assets under management as of December 31, 2013. 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 insurancecompanies 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 won awards forexcellence in asset management from Lipper, Mercer, AsianInvestor, R&I, among others.
The company’s management team is highly diverse and experienced, and is committed to running thecompany according to international best practices. Nikko AM’s independence from the limitations imposed on
many captive asset management companies allows it to focus on the interests of clients. At the same time,
the company enjoys a stable base of shareholders, with majority ownership held by Sumitomo Mitsui TrustHoldings 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 December 2013.

Nikko Asset Management Co., LTD
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

Nikko Asset Management Co., Ltd.
Midtown Tower, 9-7-1 Akasaka, Minato-ku, Tokyo, 107-6242, Japan
www.nikkoam.com
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