Prepared on: 19/03/2024
This Product Highlights Sheet is an important document.
• It highlights the key terms and risks of this investment product and complements theProspectus1.
• It is important to read the Prospectus before deciding whether to purchase the product. If
you do not have a copy, please contact us to ask for one.
• You should not invest in the product if you do not understand it or are not comfortable withthe accompanying risks.
• If you wish to purchase the product, you will need to make an application in the manner setout in the Prospectus.

Nikko AM Shenton Emerging Enterprise Discovery Fund(the “Fund”)
Unit Trust

Launch Date

Managers

Nikko Asset Management
Asia Limited
BNP Paribas Trust
Services Singapore
LimitedNoCustodian

TrusteeCapitalGuaranteedDealing
Frequency

SGD Class: 13 March 1998
USD Class/RMB Class: Not
incepted yet
BNP Paribas, acting throughits Singapore branchEvery Business Day

Expense Ratio
SGD Class: 1.88%
for the financial
USD Class and RMB Class:year ended 31
N.A. 2
December 2022
PRODUCT SUITABILITY
WHO IS THE PRODUCT SUITABLE FOR?
Furtherinformation• The Fund is only suitable for investors who:Refer to Parao seek medium to long-term capital appreciation;o seek investment in small and medium sized companies in Asia ex-Japan; 6.2 of theProspectus forandfurther
o are willing and able to accept that their principal will be at risk.
You should consult your financial advisers if in doubt about whether this information on
product
product is suitable for you.
suitability.
KEY PRODUCT FEATURES
WHAT ARE YOU INVESTING IN?
Refer Para 1.1,
• You are investing in a unit trust constituted in Singapore that aims to achieve 6.1, 7.2(l) and22.3 of themedium to long-term capital appreciation.
• The Managers have the absolute discretion to determine whether a Prospectus for
distribution is to be made to Holders. The Managers may make capital further
distribution to Holders at such time as they deem fit in accordance with the information on
Deed. Where distributions are paid out of capital of the Fund or the relevant features of theClass, the capital and the NAV of the Fund or the relevant Class will be product.
reduced and this will be reflected in the realisation price of the Units of theFund or the relevant Class.
• The base currency of the Fund is SGD.
Investment Strategy• The Fund invests primarily in the listed equities of small to medium-sizedcompanies in Asia ex Japan, which in the Managers’ opinion areundervalued. Small and medium-sized companies shall mean companies

Refer to Para
6.1 of theProspectus for

The Prospectus is available for collection at the Managers’ business address at 12 Marina View,#18-02, Asia Square Tower 2, Singapore 018961 during usual business hours or accessible atwww.nikkoam.com.sg.
2
The USD Class and the RMB Class have each not been incepted as at 31 December 2022.
Nikko AM Shenton Emerging Enterprise Discovery Fund –19 March 2024
Page 1 of 41

PRODUCT HIGHLIGHTS SHEETProductTypewhich are included in a market index for small and medium-sized companies,or companies that have a comparable market capitalisation. No investments
shall be made which would result in more than 25 per cent of the total NAVof the Fund being invested in corporations, bodies or issuers with a market
capitalisation of USD5 billion or above.
• The Fund invests in developed markets and may also invest in emerging
markets. The Fund does not focus on any particular industrial sector.
Parties Involved
WHO ARE YOU INVESTING WITH?
• The Managers are Nikko Asset Management Asia Limited.
• The Trustee is BNP Paribas Trust Services Singapore Limited.
• The Custodian is BNP Paribas, acting through its Singapore branch.

Market and Credit Risks• You are exposed to market risk in the Asian ex-Japan markets. The priceof securities comprised in the portfolio of the Fund and the Units, and theincome from them, may be influenced by political and economic conditions,changes in interest rates, the earnings of the corporations whose securities
are comprised in the portfolio, and the market’s perception of the securities.
• You are exposed to currency risk. As investments of the Fund may bedenominated in foreign currencies other than the base currency of the Fundor the Class Currency of the relevant Class within the Fund, fluctuations in
the exchange rates of these foreign currencies may have an impact on thevalue of the Units of the Fund.
Liquidity Risks• The Fund is not listed and you can redeem only on Dealing Days.
Product-Specific Risks• Smaller companies may be riskier. Although smaller companies present
more potential for growth, investing in smaller companies may involve
greater risks in comparison to investing in larger and more establishedcompanies. Securities in smaller companies may be less liquid and morevolatile than the securities of larger companies due to inadequate trading
volume or restrictions on trading, resulting in fluctuations in the price of theUnits.
• You are exposed to foreign securities risk. The investments of the Fund
may be affected by political instability as well as exchange controls, changes
in taxation, foreign investment policies and other restrictions and controlswhich may be imposed by the relevant authorities in the other countries.
• You are exposed to derivatives risk. The Managers may invest in
financial derivative instruments (“FDIs”) for the purposes of optimising
returns, hedging and/or efficient portfolio management. As at the date ofregistration of the Prospectus, the Managers only use FDIs for purposes ofhedging and/or efficient portfolio management. Derivatives involve risks
Nikko AM Shenton Emerging Enterprise Discovery Fund –19 March 2024

Refer to Para 2to 4 of theProspectus forfurtherinformation onthe role andresponsibilitiesof these entities
and what
happens if they
becomeinsolvent.
Refer to Para 7of theProspectus forfurther
information onrisks of theproduct.

Page 2 of 4

PRODUCT HIGHLIGHTS SHEETKEY RISKS
WHAT ARE THE KEY RISKS OF THIS INVESTMENT?
You should be aware that the price of Units can go down as well as up.
The value of the product and its dividends or coupons may rise or fall. The
following are key risk factors that may cause you to lose some or all ofyour investment:

further
information on
the investment
strategy of theFund.

VALUATIONS AND EXITING FROM THIS INVESTMENTHOW OFTEN ARE VALUATIONS AVAILABLE?
The issue price and realisation price of Units will be available on the Business
Day following each Dealing Day. You may check such prices on the Managers’
website (www.nikkoam.com.sg).
HOW CAN YOU EXIT FROM THIS INVESTMENT AND WHAT ARE THE
RISKS AND COSTS IN DOING SO?
Cancellation of Units
If applicable to you, you may cancel your subscription for Units by sending acancellation request to the Managers through the approved distributor fromwhom you purchased your Units within 7 calendar days from the date of yoursubscription or purchase of the Units. Any Initial Sales Charge paid will be
refunded to you. However, you will have to take the risk for any price changes
in the NAV of the Fund or the relevant Class since you purchased the Units.

Refer to Para 13of theProspectus forfurther
information on
the fees andcharges.

Refer to Para
8.9, 11 and 14 of
the Prospectus
for further
information on
valuation andexiting from theproduct.

Realisation of UnitsYour financial adviser is required to disclose to you the amount of trailer fee it receives from theManagers.
Nikko AM Shenton Emerging Enterprise Discovery Fund –19 March 2024
Page 3 of 43PRODUCT HIGHLIGHTS SHEET

different from, and in some cases, greater than, the risks presented by more
traditional investments. Some of the risks associated with derivatives aremarket risk, management risk, credit risk, liquidity risk, moratorium risk,
capital control risk, tax risk and leverage risk. The Fund may invest into
underlying funds which use or invest in FDIs, and it is possible that theFund’s NAV may be subject to volatility due to the Fund’s or therelevant underlying fund’s usage or investment in FDIs.
You should be aware that your investment in the Fund may be exposed toother risks of an exceptional nature from time to time.
FEES AND CHARGES
Payable directly by you• You will need to pay the following fees and charges as a percentage of yourgross investment sum:
Initial Sales Charge
Current: Up to 5.00%; Maximum: 5.00%
Realisation Charge
Current: 0%; Maximum: 1%
Exchange Fee
Where the Initial Sales Charge paid for theUnits being exchanged is less than the initialsales charge payable for units being acquired,the difference will be charged.
• The approved distributors of the Managers may also charge additional fees notlisted in the Prospectus. You should therefore check with the approved
distributors before subscribing for Units.
Payable by the Fund from invested proceeds• The Fund will pay the following fees and charges to the Managers, Trustee
and other parties:
Annual Management Fee
Current: 1.5% p.a.; Maximum: 2% p.a.
(a) Retained by Managers (a) 40% to 100% of Annual Management Fee(b) Paid by Managers to(b) 0% to 60% 3 of Annual Management Fee
financial adviser(trailer fee)
Annual Trustee’s Fee
Current: 0.1% p.a.; Maximum: 0.1% p.a.
Always subject to minimum of SGD15,000 p.a.
Other Substantial
As at 31 December 2022 (audited):
Fees/Charges
SGD ClassProfessional/Legal fees: 0.12%; Transaction
cost: 0.76%

Nikko AM Shenton Emerging Enterprise Discovery Fund –19 March 2024

Page 4 of 4

PRODUCT HIGHLIGHTS SHEETYou can exit the Fund by submitting a written realisation request to theManagers through the approved distributor from whom you purchased yourUnits. If you are an institutional investor who had purchased your Units directlyfrom the Managers, you may submit your realisation request to the Managers.
If your realisation request is received and accepted by 5 p.m. Singapore time ona Dealing Day, your Units will be realised at the realisation price for that Dealing
Day. If your realisation request is received and accepted after 5 p.m. Singapore
time, your Units will be realised at the realisation price for the next Dealing Day.
The realisation proceeds that you will receive are calculated by multiplying thenumber of Units to be realised by the realisation price, less any applicablecharges. Currently no realisation charge is imposed.
An example is as follows:
Units to be realised x Realisation Price= Realisation Proceeds
1,000
x $1.050= $1,050.00
The cancellation or realisation proceeds will normally be paid within seven
Business Days after the relevant Dealing Day on which the cancellation orrealisation request is received unless realisation of Units has been suspendedin accordance with the Prospectus.
CONTACT INFORMATIONHOW DO YOU CONTACT US?
You may contact our approved distributors listed on our website atwww.nikkoam.com.sg or call Nikko Asset Management Asia Limited at 1800 5358025.
APPENDIX: GLOSSARY OF TERMS
Business Day means any day (other than Saturdays, Sundays and public holidays) on whichbanks and other financial institutions in Singapore are generally open for business.
Classmeans any class within the Fund which is established pursuant to the provisionsof the Deed and which may be denominated in Singapore dollars or US dollars orsuch other currency as the Managers may from time to time determine.
Dealing Day
in relation to the subscription and realisation of Units means a Business Day orsuch other day as provided in the Deed.
Deed
means the trust deed of the Fund as may be amended or modified from time totime.
Holderin relation to a Unit, means the person for the time being entered in the register ofholders of the Fund as the holder of that Unit and includes persons so entered as
Joint Holders (as defined in the Deed).
Initial Sales
means a charge upon the issue of Units of such amount as the Managers mayCharge
from time to time determine generally or in relation to any specific transaction orclass of transactions being a percentage of the gross investment sum, which shallnot exceed the maximum charge for the Fund as stated above.
Launch Datefor the purposes of this Product Highlights Sheet only, means the inception dateof the relevant Class.
NAV
means net asset value.
RMB
means the lawful currency of the People’s Republic of China.
SGD
means the lawful currency of the Republic of Singapore.
Unitsmeans the nature of the interest issued to investors, being an undivided share in
the relevant deposited property for the Fund which includes a fraction of a Unit.
USD
means the lawful currency of the United States of America.