Intended for a professional audience

First State Investments launches China A Shares Fundwithin Irish UCITS product range

Media ReleaseLondon, 6 June 2019
This document is a financial promotion for the First State China A Shares Fund (the ‘Fund’) toprofessional clients only in the EEA or elsewhere where lawful. Investing involves certain risks
including:The value of investments and any income from them may go down as well as up
and is not guaranteed. Investors may get back significantly less than the originalamount invested.

Currency risk: the Fund invests in assets which are denominated in other currencies;changes in exchange rates will affect the value of the Fund.

Single country / specific region risk: investing in a single country or specific region
may be riskier than investing in a number of different countries or regions. Investing in alarger number of countries or region helps spread risk.

China Market Risk: investing in the Chinese market involves risks such as legal,regulatory and economic. The securities markets in China may subject the Fund togreater uncertainty than investments in more developed countries.

For a full description of the terms of investment and the risks please see the prospectus and Key
Investor Information Document.
If you are in any doubt as to the suitability of our funds for your investment needs, pleaseseek investment advice.

First State Investments (‘First State’) announces the launch of the First State China A Shares
Fund, a sub-fund of its Dublin-domiciled UCITS Fund1. The Fund is designed to meet the growing
demand from investors for exposure to companies in mainland China, through securities listedon the Chinese Stock Exchanges.
The First State China A Shares Fund (the ‘Fund’) will be managed by the First State Stewart Asia
team and incorporate the team’s bottom-up approach to stock-picking with an integrated focus onenvironmental, social and governance (“ESG”) issues.
The Fund’s investment philosophy places an emphasis on investing in high-quality companies over thelong term, seeking those with well-governed management teams and strong and stable franchises.

1First State Global Umbrella Fund plc

Intended for a professional audience

First State Investments has a long track record of investing in both mainland China and the Greater
China regions. The First State Stewart Asia team has been managing funds throughout the region for
more than a decade, with assets under management of USD 533m in its current China A shares strategy
and USD 4,476m2 in Greater China strategies. The Fund will be managed from Hong Kong by Portfolio
Manager Quanqiang Xian, together with the wider First State Stewart Asia investment team.
Michael Stapleton, Managing Partner, First State Stewart Asia said “The launch of the First State
China A Shares Fund reflects investor demand for a UCITS product with access to an equity marketthat is still relatively untapped and underrepresented in investor portfolios. The China A shares market
is complex to navigate; we believe that our detailed company analysis through our active, bottom-up
investment approach, together with our experience of investing in China, will provide European
investors with a good way of accessing this developing market.”
Quanqiang Xian, Portfolio Manager, First State Stewart Asia added: “Ten years ago we were one of
the first companies to receive a quota approval under the Qualified Foreign Institutional Investor
programme. With the launch of this new Fund we remain focused on investing in companies withgood governance and proven capabilities, as well as looking for evidence of increasing ESG
standards and rising cash flows. We believe that such companies should provide satisfactory financial
returns at lower volatilities for investors over the medium to long term.”

ENDS

For further information please contact:

NameTelephone

EmailFTI Consulting(UK PR representative of First State
Investments)+44 (0)20 3727 1376

firststateinvestmentsLondon@fticonsulting.com

Sarah Mahomed Ross
Communications Manager
First State Investments+44 (0) 20 7332 6844 sarah.mahomedross@firststate.co.uk

About First State Investments:
First State Investments is a global asset management business with experience across a range ofasset classes and specialist investment sectors. In Australia First State operates as Colonial First
State Global Asset Management. First State Investments offers a range of investment solutions toinstitutional and retail investors globally, including equities, debt, multi-asset and unlistedinfrastructure.
Our approach to investment is driven by a commitment to providing the best possible outcomes overthe long term for our investors. To achieve this, we ensure our interests are aligned with our investors
and uphold a culture of always acting in our clients’ best interests .

2 Data as at 31.12.2018, sourced from First State Investments

Intended for a professional audience

Important Information
This document has been prepared for informational purposes only and is only intended to provide asummary of the subject matter covered and does not purport to be comprehensive. The views
expressed are the views of the writer at the time of issue and may change over time. It does notconstitute investment advice and/or a recommendation and should not be used as the basis of any
investment decision. This document is not an offer document and does not constitute an offer orinvitation or investment recommendation to distribute or purchase securities, shares, units or otherinterests or to enter into an investment agreement. No person should rely on the content and/or act on
the basis of any material contained in this document.
The information contained within this document has been obtained from sources that we believe to bereliable and accurate at the time of issue but no representation or warranty, express or implied, ismade as to the fairness, accuracy, or completeness of the information. We do not accept any liability
whatsoever for any loss arising directly or indirectly from any use of this information.
References to “we” or “us” are references to First State Investments.
Certain funds referred to in this document are identified as sub-funds of First State Global UmbrellaFund, an umbrella investment company registered in Ireland (“VCC”). Further information is containedin the Prospectus and Key Investor Information Documents of the VCC which are available free ofcharge by writing to: Client Services, First State Investments (UK) Limited, Finsbury Circus House, 15
Finsbury Circus, London, EC2M 7EB or by telephoning 0800 587 4141 between 9am and 5pm
Monday to Friday or by visiting www.firststateinvestments.com. Telephone calls may be recorded.
The distribution or purchase of shares in the funds, or entering into an investment agreement withFirst State Investments may be restricted in certain jurisdictions.
Representative and Paying Agent in Switzerland: The representative and paying agent in Switzerland
is BNP Paribas Securities Services, Paris, succursale de Zurich, Selnaustrasse 16, 8002 Zurich,Switzerland. Place where the relevant documentation may be obtained: The prospectus, key investor
information documents (KIIDs), the instrument of incorporation as well as the annual and semi-annual
reports may be obtained free of charge from the representative in Switzerland.
In the UK, issued by First State Investments (UK) Limited which is authorised and regulated by theFinancial Conduct Authority (registration number 143359). Registered office Finsbury Circus House,
15 Finsbury Circus, London, EC2M 7EB number 2294743. Outside the UK within the EEA, thisdocument is issued by First State Investments International Limited which is authorised and regulated
in the UK by the Financial Conduct Authority (registered number 122512). Registered office: 23 St.
Andrew Square, Edinburgh, EH2 1BB number SCO79063.
First State Investments (UK) Limited and First State Investments International Limited are part ofColonial First State Asset Management (“CFSGAM”) which is the consolidated asset management
division of the Commonwealth Bank of Australia ABN 48 123 123 124. CFSGAM includes a numberof entities in different jurisdictions, operating in Australia as CFSGAM and as First State Investments
elsewhere. The Commonwealth Bank of Australia (“Bank”) and its subsidiaries do not guarantee theperformance of any investment or entity referred to in this document or the repayment of capital. Any
investments referred to are not deposits or other liabilities of the Bank or its subsidiaries, and are
subject to investment risk including loss of income and capital invested.