Master Prospectus

Preface
Dear Valued Investor,
Thank you for considering an investment with CIMB-Principal Asset Management Berhad (CIMB-Principal).
CIMB-Principal offers a comprehensive range of conventional Funds for investors diversified investment
appetites in achieving their long term financial goals. We are proud to offer our extensive suit of Funds which
provides investors with a choice to achieve their long-term financial goals. Investors should continuously take
interest in their investments and seek the information they need to know about their investments, know their
rights, ask the questions of their financial advisers and know where to check to verify and clarify their doubts.
This Master Prospectus has full and accurate disclosure of material information that will enable investors to
make informed decisions.
Whilst we offer a comprehensive selection of conventional Funds categorised as Equity, Mixed Assets, Money
Market, Fixed Income, with a regional and global investment horizon, please note that there are risks involved
in investing in these Funds. The general risks which are common to all Funds and specific risks which are
explicit to each Fund according to its nature of investment assets. For further details, please refer to the Risk
Factors chapter of this Master Prospectus.
Each Fund imposes an Application Fee and in certain Funds a Withdrawal Fee, calculated based on the NAV
per unit of that Fund at the time of investing. A Management Fee and a Trustee Fee will also be chargeable to
the Funds.
Take your time to refer to the Key Data chapter in this Master Prospectus. Any questions you may have on
our family of conventional Funds such as their investment objectives, key strategies, investor profiles, risks
parameters, fees and charges will be answered.
Reading this Master Prospectus is your first step towards deciding on the fund that is well-suited for your
personal financial goals and risk appetite. To find out more, speak to our helpful personnel at the Customer
Care Centre at 03-7718 3100. Alternatively, you may contact our Approved Distributors and Unit Trust
Consultants detailed in the Distributors of the Funds chapter in this Master Prospectus.
Let us help you grow and move your wealth towards your investment goals.
Yours sincerely,
For and on behalf of CIMB-Principal Asset Management Berhad
Campbell Tupling
Chief Executive
About this document
This is a Master Prospectus that introduces you to CIMB-Principal Asset Management Berhad and its diverse range of conventional
investment funds comprising equity funds, mixed asset funds, fixed income and money market funds as well as regional and global
funds. This Master Prospectus outlines in general the information you need to know to make an informed decision as to which Fund
best suits your financial needs.
If you have any questions about the information in this Master Prospectus or would like to know more about investing in the CIMB-
Principal family of unit trust funds, please call CIMB-Principal Customer Care Centre at (03) 7718 3100 between 8:30 a.m. and 5:30
p.m., Mondays to Fridays (except on Selangor public holidays).
If you wish to invest after 29 June 2011, please obtain a Master Prospectus and application form current at that time.
Unless otherwise indicated, any reference in this Master Prospectus to any legislation, statute or statutory provision is a reference
to that legislation, statute or statutory provision for the time being, as amended or re-enacted, and to any repealed legislation,
statute or statutory provision which is re-enacted (with or without modification).
Any reference to a time or day in this Master Prospectus shall be a reference to that time or day in Malaysia, unless otherwise
stated.
Please note that all references to currency amounts and unit prices in this Master Prospectus are in Ringgit Malaysia unless
otherwise indicated.
Master Prospectus details
Issue No. 14
Prospectus Date 30 June 2010
Expiry Date 29 June 2011
Responsibility Statements
This Master Prospectus has been reviewed and approved by the directors of CIMB-Principal and they collectively and individually
accept full responsibility for the accuracy of the information. Having made all reasonable enquiries, they confirm to the best of their
knowledge and belief, there are no false or misleading statements, or omission of other facts which would make any statement in
this Master Prospectus false or misleading.
Statements of Disclaimer
The Securities Commission has approved the issue of, offer for subscription or purchase, or issue of an invitation to subscribe for or
purchase units of the Funds, the subject of this Master Prospectus, and a copy of this Master Prospectus has been registered with
the Securities Commission.
The approval, and registration of this Master Prospectus should not be taken to indicate that the Securities Commission
recommends the Funds or assumes responsibility for the correctness of any statement made or opinion or report expressed in this
Master Prospectus.
The Securities Commission is not liable for any non-disclosure on the part of the CIMB-Principal who is responsible for the Funds
and takes no responsibility for the contents in this Master Prospectus. The Securities Commission makes no representation on the
accuracy or completeness of this Master Prospectus, and expressly disclaims any liability whatsoever arising from, or in reliance
upon, the whole or any part of its contents.
INVESTORS SHOULD RELY ON THEIR OWN EVALUATION TO ASSESS THE MERITS AND RISKS OF THE INVESTMENT. IN
CONSIDERING THE INVESTMENT, INVESTORS WHO ARE IN DOUBT ON THE ACTION TO BE TAKEN SHOULD CONSULT
PROFESSIONAL ADVISERS IMMEDIATELY.
Additional Statements
No units will be issued or sold based on this Master Prospectus later than one (1) year after the date of this Master Prospectus.
Investors are advised to note that recourse for false or misleading statements or acts made in connection with this Master
Prospectus is directly available through Sections 248, 249 and 357 of the Capital Markets and Services Act 2007.
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Table of Contents
DEFINITIONS .................................................................... 1 ANNUAL TOTAL RETURNS ...................................... 131
CORPORATE DIRECTORY .............................................. 4 FUNDS PERFORMANCE AGAINST BENCHMARK .. 133
KEY DATA ........................................................................ 7 DISTRIBUTIONS ........................................................ 144
RISK FACTORS .............................................................. 42
PORTFOLIO TURNOVER RATIO (PTR).................... 146
GENERAL RISKS OF INVESTING IN UNIT TRUST
FUNDS......................................................................... 42 ASSET ALLOCATION ................................................ 149
SPECIFIC RISKS ASSOCIATED WITH THE HISTORICAL HIGHLIGHTS OF THE FUNDS ............... 155
INVESTMENT PORTFOLIO OF THE FUNDS ............. 43 TOTAL ANNUAL EXPENSES .................................... 164
SECTION 1: EQUITY FUNDS .................................. 43 MANAGEMENT EXPENSE RATIO (MER) ................. 165
SECTION 2: MIXED ASSET FUNDS ....................... 46 FEES, CHARGES AND EXPENSES ............................. 167
SECTION 3: FIXED INCOME & MONEY MARKET CHARGES.................................................................. 167
FUNDS..................................................................... 48 FEES AND EXPENSES ............................................. 168
SECTION 4: REGIONAL & GLOBAL FUNDS .......... 50
FUNDS DETAILED INFORMATION............................... 62 TRANSACTION INFORMATION ................................... 173
SECTION 1: EQUITY FUNDS .................................. 63 UNIT PRICING ........................................................... 173
1.1 CIMB-Principal Equity Fund .............................. 63 TRANSACTION DETAILS .......................................... 175
1.2 CIMB-Principal Equity Fund 2 ........................... 64 INVESTING ............................................................ 175
1.3 CIMB-Principal Equity Aggressive Fund 1......... 65 WITHDRAWALS..................................................... 177
1.4 CIMB-Principal Equity Aggressive Fund 3......... 66 MINIMUM BALANCE .............................................. 178
1.5 CIMB-Principal Equity Growth Fund.................. 67 COOLING-OFF PERIOD ........................................ 179
1.6 CIMB-Principal Equity Growth & Income Fund.. 68 SWITCHING ........................................................... 179
1.7 CIMB-Principal Equity Income Fund ................. 69 TRANSFER FACILITY ............................................ 180
1.8 CIMB-Principal Small Cap Fund........................ 70
DISTRIBUTION OF THE FUNDS ............................... 181
SECTION 2: MIXED ASSET FUNDS ....................... 71
2.1 CIMB-Principal Balanced Fund ......................... 71 UNCLAIMED MONIES ............................................... 183
2.2 CIMB-Principal Balanced Income Fund ............ 72 THE MANAGER............................................................. 184
2.3 CIMB-Principal Income Plus Balanced Fund..... 73 ABOUT CIMB-PRINCIPAL ASSET MANAGEMENT
SECTION 3: FIXED INCOME & MONEY MARKET BERHAD .................................................................... 184
FUNDS..................................................................... 74 THE SUB-MANAGERS.................................................. 193
3.1 CIMB-Principal Bond Fund................................ 74
ABOUT CIMB-PRINCIPAL ASSET MANAGEMENT (S)
3.2 CIMB-Principal Strategic Bond Fund................. 75
PTE LTD..................................................................... 193
3.3 CIMB-Principal Deposit Fund............................ 76
3.4 CIMB-Principal Money Market Income Fund..... 77 ABOUT TEMPLETON ASSET MANAGEMENT LTD.. 194
SECTION 4: REGIONAL & GLOBAL FUNDS .......... 78 THE TRUSTEES ............................................................ 197
4.1 CIMB-Principal Asia Infrastructure Equity Fund 78 AMANAHRAYA TRUSTEES BERHAD....................... 197
About Invesco Asia Infrastructure Fund.................... 79 MAYBAN TRUSTEES BERHAD................................. 198
4.2 CIMB-Principal ASEAN Equity Fund ................. 88
PB TRUSTEE SERVICES BERHAD .......................... 199
4.3 CIMB-Principal Asian Equity Fund .................... 89
4.4 CIMB-Principal Climate Change Equity Fund.... 90 HSBC (MALAYSIA) TRUSTEE BERHAD ................... 200
About DWS Invest Climate Change.......................... 91 DEUTSCHE TRUSTEES MALAYSIA BERHAD ......... 201
4.5 CIMB-Principal Emerging Asia Fund................. 97 AMTRUSTEE BERHAD.............................................. 202
4.6 CIMB-Principal Global Asset Spectra Fund....... 98 UNIVERSAL TRUSTEE (MALAYSIA) BERHAD......... 203
4.7 CIMB-Principal Global Balanced Fund ............ 100
WHAT ARE THE RESPONSIBILITIES OF THE
4.8 CIMB-Principal Global Growth Fund ............... 101
TRUSTEES? .............................................................. 204
4.9 CIMB-Principal Global Titans Fund ................. 102
4.10 CIMB-Principal Greater China Equity Fund..... 104 SALIENT TERMS OF DEEDS ....................................... 206
About Schroder ISF Greater China......................... 105 APPROVALS AND CONDITIONS ................................. 217
4.11 CIMB-Principal Lifecycle Funds ...................... 110 RELATED-PARTY TRANSACTIONS/ CONFLICT OF
4.12 CIMB-Principal MENA Equity Fund................. 114 INTEREST ..................................................................... 218
About Ocean Fund/Equities MENA Opportunities .. 114 TAXATION REPORT ..................................................... 219
AUTHORISED INVESTMENTS.............................. 121 ADDITIONAL INFORMATION ....................................... 224
INVESTMENT RESTRICTIONS AND LIMITS ........ 127 CONSENT...................................................................... 226
VALUATION OF AUTHORIZED INVESTMENTS ... 129 DOCUMENTS AVAILABLE FOR INSPECTION............ 227
BORROWINGS / FINANCING................................ 129 DISTRIBUTORS OF THE FUNDS ................................. 228
SECURITIES LENDING ......................................... 129 APPENDIX I ETF RISKS ............................................ 230
FUNDS PERFORMANCE............................................. 130 APPENDIX II UNIT TRUST LOAN FINANCING RISK
DISCLOSURE STATEMENT ......................................... 233
AVERAGE TOTAL RETURNS ................................... 130
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Definitions
Except where the context otherwise requires, the following definitions shall apply throughout this Master Prospectus:
AmTB - AmTrustee Berhad (163032-V).

Application Fee - Preliminary charge on each investment.
Approved Distributors - Any relevant persons and bodies, as may be approved by the SC (if necessary) or any other
regulatory body and appointed by CIMB-Principal from time to time, who are responsible for
selling units of the Funds.
ART - AmanahRaya Trustees Berhad (766894-T).
ASEAN - Association of Southeast Asian Nations.
Auditors - An approved company auditor independent of both the Trustee and the Manager, and
appointed by the Trustee of the Fund.
BNM - Bank Negara Malaysia.
Bursa Malaysia - Bursa Malaysia Securities Berhad (635998-W).
Business Day - Mondays to Fridays when Bursa Malaysia is open for trading, and/or banks in Kuala Lumpur
and/or Selangor are open for business.
Note for CIMB-Principal ASEAN Equity Fund, CIMB-Principal Asian Equity Fund,
CIMB-Principal Emerging Asia Fund, CIMB-Principal Global Asset Spectra Fund,
CIMB-Principal Global Balanced Fund, CIMB-Principal Global Growth Fund, CIMB-
Principal Global Titans Fund and CIMB-Principal Lifecycle Funds:
The Manager may declare certain Business Days a non-Business Day if that Funds
investment in foreign markets which are closed for business is at least 50% of the Funds
NAV.
Note for CIMB-Principal Asia Infrastructure Equity Fund, CIMB-Principal Climate
Change Equity Fund, CIMB-Principal Greater China Equity Fund and CIMB-Principal
MENA Equity Fund:
The Manager may declare certain Business Days a non-Business Day when it is a non-
Business Day for the Target Fund or in the event of a temporary suspension of the Net Asset
Value calculation of the Target Fund as provided for in its prevailing prospectus.
CIMB - CIMB Investment Bank Berhad (18417-M).
CIMB FTSE/ASEAN 40 - An Exchange-Traded Fund (ETF) listed in the Singapore Stock Exchange Trading Limited.
CIMB Group - CIMB Group Sdn. Bhd. (706803-D).
CIMB Group Holdings - CIMB Group Holdings Berhad (formerly known as Bumiputra-Commerce Holdings Berhad)
(50841-W).
CIMB-Principal or the Manager - CIMB-Principal Asset Management Berhad (304078-K).
CIMB-Principal (S) - CIMB-Principal Asset Management (S) Pte Ltd (200607208K).
CIMB-Principal Funds - Any unit trust funds that may be offered by CIMB-Principal.
CIS - Collective Investment Scheme.
CMSA - Capital Markets and Services Act 2007.
CWA - CIMB Wealth Advisors Berhad (209627-H), an IUTA of the Manager.
Deeds - The Master and any Supplemental Master Deed in respect of the Funds made between the
Manager, the Trustee and the Unit holders of the Funds, agreeing to be bound by the
provisions of the respective Deeds.
DTMB - Deutsche Trustees Malaysia Berhad (763590-H).
Eligible Market - A market which is regulated by a regulatory authority, operates regularly, is open to the
public and has adequate liquidity for the purposes of the Fund.
Exchange-Traded Fund or ETF - An authorized collective investment scheme listed in the exchange.
FBM 100 - FTSE Bursa Malaysia Top 100.
Fitch - Fitch Ratings.
FTSE - An independent company owned by The Financial Times and the London Stock Exchange.
The companys sole business is the creation and management of indices and associated
data services, on an international scale. (For more information, please refer to
http://www.ftse.com/About_Us/index.jsp)
FTSE / ASEAN Index - A benchmark index providing an indication of the financial performance of the top 180 large
and mid cap companies from the five ASEAN countries: Indonesia, Malaysia, the Philippines,
Singapore and Thailand but currently consisting of 147 securities.
FTSE / ASEAN 40 Index - A tradable index consisting of the top 40 constituents from FTSE/ASEAN Index, ranked by
market capitalization.
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Fund / Funds - EQUITY FUNDS
CIMB-Principal Equity Fund EF
CIMB-Principal Equity Fund 2 EF2
CIMB-Principal Equity Aggressive Fund 1 EAF1
CIMB-Principal Equity Aggressive Fund 3 EAF3
CIMB-Principal Equity Growth Fund EGF
CIMB-Principal Equity Growth & Income Fund EGIF
CIMB-Principal Equity Income Fund EIF
CIMB-Principal Small Cap Fund SCF
MIXED ASSET FUNDS

CIMB-Principal Balanced Fund BF
CIMB-Principal Balanced Income Fund BIF
CIMB-Principal Income Plus Balanced Fund IPBF
FIXED INCOME & MONEY MARKET FUNDS

CIMB-Principal Bond Fund BOF
CIMB-Principal Strategic Bond Fund SBF
CIMB-Principal Deposit Fund (formerly known as the DF
CIMB-Principal Money Market Fund)
CIMB-Principal Money Market Income Fund MMIF
(formerly known as the CIMB-Principal Xcess Cash
Fund)
REGIONAL & GLOBAL FUNDS

CIMB-Principal Asia Infrastructure Equity Fund AIEF
CIMB-Principal ASEAN Equity Fund ASEF
CIMB-Principal Asian Equity Fund AEF
CIMB-Principal Climate Change Equity Fund CCEF
CIMB-Principal Emerging Asia Fund EMAF
CIMB-Principal Global Asset Spectra Fund GASF
CIMB-Principal Global Balanced Fund GBF
CIMB-Principal Global Growth Fund GGF
CIMB-Principal Global Titans Fund GTF
CIMB-Principal Greater China Equity Fund GCEF
CIMB-Principal Lifecycle Funds, LF
a group of three (3) distinct conventional Funds,
known as:
CIMB-Principal Lifecycle 2017 LF2017
CIMB-Principal MENA Equity Fund CMEF
GLG Partners - GLG Partners Inc.
GLG UK - GLG Partners UK Ltd.
HSBCT - HSBC (Malaysia) Trustee Berhad (1281-T).
IUTAs - Institutional Unit Trust Advisers.
Latest Practicable Date or LPD - 31 May 2010, in which all information provided herein shall remain current and relevant as at
such date.
LTT - Lifetime Trust (which includes CIMB-Principal Equity Aggressive Fund 3, CIMB-Principal
Balanced Fund and CIMB-Principal Income Plus Balanced Fund).
MARC - Malaysian Rating Corporation Berhad (364803 V).
Management Fee - A percentage of the NAV of the Fund that is paid to the Manager for managing the portfolio
of the Fund.
MENA countries - The Middle East and North African countries including Egypt, Jordan, Lebanon, Oman,
Qatar, Kuwait, Bahrain, Saudi Arabia, United Arab Emirates, Tunisia, Morocco and other
markets of the region.
MER - Management Expense Ratio.
Moodys - Moodys Investors Service.
MSCI - Morgan Stanley Capital International, a global benchmark provider.
MTB - Mayban Trustees Berhad (5004-P).
Net Asset Value or NAV - The value of the cash, accrued income and investments together with an adjustment for
brokerage, stamp duties, transfer fees and other charges, if any, in respect of such
investments less liabilities including provisions and allowances for contingencies for the time
being in the Fund, at the valuation point. For the purpose of computing the annual
Management Fee and annual Trustee Fee, the NAV of the Fund should be inclusive of the
Management Fee and Trustee Fee for the relevant day.
NAV per unit - The Net Asset Value of the Fund divided by the number of units in circulation, at the
valuation point.
OTC - Over-the-counter.
PBTSB - PB Trustee Services Berhad (7968-T).
PGI - Principal Global Investors, LLC.
2
PIA - Principal International (Asia) Ltd.
Principal Financial Group or - Principal Financial Group and its affiliates.
PFG
PTR - Portfolio Turnover Ratio.
RAM - RAM Rating Services Berhad (763588-T).
Quant shop MGS All Bond - An Index jointly developed by RAM and Quant Shop Pty. Ltd.
Index
Quant shop MGS Bond Index - An Index jointly developed by RAM and Quant Shop Pty. Ltd.
(Medium Sub-Index)
REIT - Real Estate Investment Trust.
RM and sen - Ringgit Malaysia and sen respectively.
S&P - Standard & Poors.
SC - Securities Commission of Malaysia.
SC Guidelines - SC Guidelines on Unit Trust Funds as may be amended and/or updated from time to time.
Schroder ISF Greater China - Schroder International Selection Fund Greater China.
SGAM Paris - Socit Gnrale Asset Management S.A., France.
SGAM UK - Socit Gnrale Asset Management UK Limited.
Special Resolution - A resolution passed by a majority of not less than 3/4 of Unit holders voting at a meeting of
Unit holders.
For the purpose of terminating or winding up a fund, a Special Resolution is passed by a
majority in number representing at least 3/4 of the value of the units held by Unit holders
voting at the meeting.
Switching Fee - A charge that may be levied when switching is done from one Fund to another.
TAML - Templeton Asset Management Ltd (199205211E).
Target Fund - The fund or funds into which each Feeder Fund or Fund-of-Funds respectively invests in.
Transfer Fee - A nominal fee levied for each transfer of units from one Unit holder to another.
Trustees - ART, MTB, PBTSB, HSBCT, AmTB, DTMB and/or UTMB and Trustee means any one of
them.
Trustee Fee - A fee that is paid to the Trustee for its services rendered as trustee for the Fund.
Unit holder - The registered holder for the time being of a unit of the Fund including persons jointly so
registered.
UTMB - Universal Trustee (Malaysia) Berhad (17540-D).
Withdrawal Fee - A charge levied upon redemption under certain terms and conditions (if applicable).
YTD - Year-to-date.
3
Corporate Directory
The Manager Investment Committee
CIMB-Principal Asset Management Berhad (304078-K) Raja Noorma Binti Raja Othman
John Campbell Tupling
Business address Badlisyah bin Abdul Ghani
Level 5, Menara Milenium Kim Teo Poh Jin*
8, Jalan Damanlela A. Huzaime bin Abdul Hamid*
Bukit Damansara Fadl bin Mohamed*
50490 Kuala Lumpur MALAYSIA
Tel: (03) 2084 2000 * Independent Member
Penang office Company Secretary

Level 4, Menara BHL Datin Rossaya Mohd Nashir (LS 0007591)
51, Jalan Sultan Ahmad Shah 5th Floor, Bangunan CIMB
10050 Penang MALAYSIA Jalan Semantan
Tel: (04) 227 2177 Damansara Heights
Kuching office Tel: (03) 2093 0379
Level 6, Wisma STA
26, Jalan Datuk Abang Abdul Rahim
93450 Kuching Sarawak MALAYSIA
Sub-Manager for AEF, EGIF, EGF, EIF,
Tel: (082) 330 033 EMAF, GASF and GTF
CIMB-Principal Asset Management (S) Pte Ltd
Registered address (200607208K)
5th Floor, Bangunan CIMB
Jalan Semantan Business/registered address
Damansara Heights 50, Raffles Place
50490 Kuala Lumpur MALAYSIA #26-05 Singapore Land Tower
Tel: (03) 2093 0379 SINGAPORE 048623
Tel: (65) 6210 8488
Postal address
CIMB-Principal Asset Management Berhad Sub-Manager for GGF and GBF
PO Box 10571 Templeton Asset Management Ltd (199205211E)
Business/registered address
Customer Care Centre 7, Temasek Boulevard
50, 52 & 54, Jalan SS21/39 #38-03 Suntec Tower One
Damansara Utama SINGAPORE 038987
47400 Petaling Jaya Selangor MALAYSIA Tel: (65) 6241 2662
Tel: (03) 7718 3100
Fax: (03) 7718 3003 Fund Administrator for EGF, EIF, GGF, GBF
Website and AEF
http://www.cimb-principal.com.my Citibank Berhad (297089-M)
E-mail Business/registered address

cimb-p.custsupport@cimb.com Level 44, Menara Citibank
165, Jalan Ampang
Board of Directors Tel: (03) 2383 0000
Dato Mohd Shukri Hussin
Fax: (03) 2383 6666
Datuk Noripah binti Kamso
Raja Noorma Binti Raja Othman
Dato Charon Wardini bin Mokhzani** The Trustees
Peter William England Trustee for EGIF and EAF1
John Campbell Tupling AmanahRaya Trustees Berhad (766894-T)
Rex Auyeung
Brig Gen (R) Dato Arif bin Dato Awang* Business address
Wong Joon Hian* Tingkat 2, Wisma TAS
Dato Anwar bin Aji* 21, Jalan Melaka
Ned Alan Burmeister 50100 Kuala Lumpur MALAYSIA
Loong Chun Nee* Tel: (03) 2036 5000
Badlisyah bin Abdul Ghani*** Fax: (03) 2072 0322
http://www.amanahraya.com.my
* Independent director
** Alternate director to Dato Mohd Shukri Hussin Registered address
*** Alternate director to Raja Noorma Binti Raja Othman Tingkat 11, Wisma AmanahRaya
2, Jalan Ampang
Tel: (03) 2055 7388
4
Delegates of AmanahRaya Trustees Berhad HSBC Nominees (Tempatan) Sdn Bhd (258854-D)
HSBC Institutional Trust Services (Singapore) Limited (as
Custodian) for EGIF Business/registered address
2, Lebuh Ampang
Business/ registered address 50100 Kuala Lumpur MALAYSIA
21, Collyer Quay #10-00, HSBC Building Tel: (03) 2070 0744
SINGAPORE 049320 Fax: (03) 2072 9787
Tel: (65) 6439 4432 / 4408 / 4492
Fax: (65) 6535 7052 Delegate of HSBC (Malaysia) Trustee Berhad
(for foreign investments)
Citibank NA (Singapore) Branch (as Custodian) for EAF1 HSBC Institutional Trust Services (Asia) Limited
6th Floor, Tower One
Business address HSBC Centre
3, Temasek Avenue, #16-00 Centennial Tower 1, Sham Mong Road
SINGAPORE 039190 Kowloon HONG KONG
Tel: (65) 6328 5610 (GL) / 6328 5082 Tel: (852) 2533 6333
Fax: (65) 6328 5658 Fax: (852) 2869 6120
http://www.citibank.com
Trustee for CMEF
Registered address Deutsche Trustees Malaysia Berhad (763590-H)
3, Temasek Avenue, #12-00 Centennial Tower
SINGAPORE 039190 Business/ registered address
Level 20, Menara IMC
Trustee for ASEF, EMAF, LTT, SBF, SCF and MMIF 8, Jalan Sultan Ismail
Mayban Trustees Berhad (5004-P) 50250 Kuala Lumpur MALAYSIA
Tel: (03) 2053 7522
Business/ registered address
34th Floor, Menara Maybank Delegate of Deutsche Trustees Malaysia Berhad
100, Jalan Tun Perak (Local & Foreign custodian)
50050 Kuala Lumpur MALAYSIA Deutsche Bank (Malaysia) Berhad (312552-W)
Tel: (03) 2078 8363
http://www.maybank2u.com.my Registered address
Level 18, Menara IMC
Delegate of Mayban Trustees Berhad 8, Jalan Sultan Ismail
Malayan Banking Berhad (3813-K) (as Custodian) 50250 Kuala Lumpur MALAYSIA
(Maybank Custody Services) Tel: (03) 2053 6788
Business/registered address Business address

14th Floor, Menara Maybank Level 18-20, Menara IMC
100, Jalan Tun Perak 8, Jalan Sultan Ismail
50050 Kuala Lumpur MALAYSIA 50250 Kuala Lumpur MALAYSIA
Tel: (03) 2074 7111 Tel: (03) 2053 6788
Delegate of Mayban Trustees Berhad (for IPBF, EMAF Trustee for AIEF
and ASEF) AmTrustee Berhad (163032-V)
Standard Chartered Bank Malaysia Berhad
Business address
Business/registered address 17th Floor, Bangunan AmBank Group
Level 16, Menara Standard Chartered 55, Jalan Raja Chulan
30, Jalan Sultan Ismail 50200 Kuala Lumpur MALAYSIA
50250 Kuala Lumpur MALAYSIA Tel: (03) 2078 2633, (03) 2078 2644
Tel: (03) 7711 8888 Fax: (03) 2031 1002
http://www.ambg.com.my
Trustee for BOF
PB Trustee Services Berhad (7968-T) Registered address
22nd Floor, Bangunan AmBank Group
Business/registered address 55, Jalan Raja Chulan
17th Floor, Menara Public Bank 50200 Kuala Lumpur MALAYSIA
146, Jalan Ampang
50450 Kuala Lumpur MALAYSIA Delegate of AmTrustee Berhad for AIEF
Tel: (03) 2162 6760 CIMB Group Nominees (Tempatan) Sdn Bhd (274740-T)
Fax: (03) 2164 3285
Business address
Trustee for GTF, GASF, GCEF, CCEF, LF and DF Level 7, Wisma Amanah Raya Berhad
HSBC (Malaysia) Trustee Berhad (1281-T) Jalan Semantan, Damansara Heights
Business/registered address Tel: (03) 2084 8888
Suite 901, 9th Floor, Wisma Hamzah-Kwong Hing, Fax: (03) 2093 3157
1, Lebuh Ampang
50100 Kuala Lumpur MALAYSIA Registered address
Tel: (03) 2074 3200 5th Floor, Bangunan CIMB
Fax: (03) 2078 0145 Jalan Semantan, Damansara Heights
Delegate of HSBC (Malaysia) Trustee Berhad Tel: (03) 2084 8888
(for local investments) Fax: (03) 2093 3720
The Hongkong And Shanghai Banking Corporation (as
custodian) and assets held through:
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Trustee for BIF, EF2, EF, EGF, EIF, GGF, GBF & AEF
Universal Trustee (Malaysia) Berhad (17540-D)
Solicitors
Soon Gan Dion & Partners
Business/registered address 1st Floor, 19, Jalan SS21/56B
1, Jalan Ampang, 3rd Floor Damansara Utama
50450 Kuala Lumpur MALAYSIA 47400 Petaling Jaya
Tel: (03) 2070 8050 Selangor Darul Ehsan MALAYSIA
Fax: (03) 2031 8715, (03) 2032 3194, (03) 2070 1296 Tel: (03) 7726 3168
Fax: (03) 7726 3445
Delegate of Universal Trustee (Malaysia) Berhad for
GGF, GBF, AEF, EGF & EIF Principal Bankers
Citibank NA (Singapore) Branch CIMB Bank Berhad
Menara Bumiputra-Commerce
Business/registered address 11, Jalan Raja Laut
3, Temasek Avenue, #16-00 Centennial Tower 50350 Kuala Lumpur MALAYSIA
SINGAPORE 039190
Tel: (65) 6328 5610 (GL) CIMB Investment Bank Berhad
Fax: (65) 6328 5658 10th Floor, Bangunan CIMB
http://www.citibank.com Jalan Semantan
Damansara Heights
Federation of Investment Managers 50490 Kuala Lumpur MALAYSIA
Malaysia (FIMM) Malayan Banking Berhad
(formerly known as the Federation of Malaysian Unit Trust Kuala Lumpur Main Office
Managers) Menara Maybank
19-07-3, 7th Floor, PNB Damansara 100, Jalan Tun Perak
19, Lorong Dungun 50050 Kuala Lumpur MALAYSIA
Damansara Heights
50490 Kuala Lumpur MALAYSIA Citibank Berhad
Tel: (03) 2093 2600 Level 45, Menara Citibank
E-mail: info@fimm.com.my 165, Jalan Ampang
http://www.fimm.com.my 50450 Kuala Lumpur MALAYSIA
Auditors of the Manager and of the HSBC Bank Malaysia Berhad

Funds/Reporting Accountants 2, Lebuh Ampang
PricewaterhouseCoopers 50100 Kuala Lumpur MALAYSIA
Chartered Accountants
Level 10, 1 Sentral Consulting Actuaries
Jalan Travers Mercer Zainal Consulting Sdn Bhd
Kuala Lumpur Sentral 1702 Kenanga International
PO Box 10192 Jalan Sultan Ismail
50706 Kuala Lumpur MALAYSIA 50250 Kuala Lumpur MALAYSIA
Tax Adviser
PricewaterhouseCoopers
Taxation Services Sdn Bhd
Level 10, 1 Sentral
Jalan Travers
Kuala Lumpur Sentral
PO Box 10192
6
Key Data
This section contains a summary of the salient information about the Funds. You should read and understand the entire Master
Prospectus before investing and keep the Master Prospectus for your records. In determining which investment is right for you, we
recommend you speak to professional advisers. CIMB-Principal Asset Management Berhad, member companies of the CIMB
Group, the Principal Financial Group and the Trustees do not guarantee the repayment of capital.
Fund information Equity Funds
For further
CIMB-Principal Equity Fund details, please
refer to page
Fund category / Type Equity / Growth.
Investment objective To maximise capital growth over the medium to long term through the stock 63
market.
Benchmark FTSE Bursa Malaysia Top 100 Index 63
Investment policy and principal The Fund may invest between 70% to 98% of its NAV in equities (both inclusive) 63
investment strategy and other permissible investments. In line with its objective, the investment policy
and strategy of the Fund will focus on investment in shares of companies with
growth potential and listed on the Main Market.
Principal risks Stock specific risk and company specific risk. 43
Investor profile The recommended investment timeframe for this Fund is 5 years or more. This
Fund is suitable for investors who:
have a medium to long-term investment;
are seeking maximum capital appreciation over the long-term and do not
require regular income from their investment;
are comfortable with a higher than average degree of volatility; and/or
are willing to take higher risks in anticipation of potentially higher returns.
Trustee Universal Trustee (Malaysia) Berhad. 203
Distribution policy The Manager has the discretion to distribute part or all of the Funds distributable 181
income. The distribution (if any) may vary from period to period depending on the
investment objective and the performance of the Fund.
Launch date 1 August 1995
Financial year-end 30 June
Maximum approved fund size 1 billion units.
Units in circulation (as at LPD) 252.30 million units.
7
For further
CIMB-Principal Equity Fund 2 details, please
refer to page
Fund category / Type Equity / Aggressive Growth.
Investment objective To achieve maximum capital appreciation over the long term through all types of 64
investments.
investment strategy and other permissible investments. In line with its objective, the investment policy
and strategy of the Fund will focus on investment in shares of companies with
growth potential.
have a medium to long-term investment;
are seeking maximum capital appreciation over the long-term and do not
require regular income from their investment;
are comfortable with a higher than average degree of volatility; and/or
are willing to take higher risks in anticipation of potentially higher returns.
Launch date 28 September 1995
Financial year-end 31 October
8
For further
CIMB-Principal Equity Aggressive Fund 1 details, please
refer to page
Investment objective To provide investors with long term capital growth by investing principally in 65
equities. The Fund also seeks to outperform the FTSE Bursa Malaysia KLCI
benchmark.
Benchmark FTSE Bursa Malaysia KLCI 65
Investment policy and principal The Fund will invest between 60% to 98% of its NAV in equities (both inclusive) 65
investment strategy and up to a maximum of 30% of its NAV may be invested in warrants and
options. Liquid assets may also be strategically used if the Manager perceives
that the downside risk of the market is high in the short term. In line with its
objective, the investment policy and strategy of the Fund is to have a portfolio
comprising of both equities and derivatives which will be rebalanced to suit
market conditions.
Principal risks Stock specific risk, company specific risk and risk associated with investment in 43
warrants/options.
have a medium to long-term investment horizon;
are seeking capital appreciation over the long-term and do not require regular
income from their investment;
are willing to take higher risks in anticipation of potentially higher returns;
and/or
can accept that investment returns may fluctuate significantly over the short-
term and may even be negative.
Trustee AmanahRaya Trustees Berhad. 197
Financial year-end 30 April
Maximum approved fund size 500 million units.
9
For further
CIMB-Principal Equity Aggressive Fund 3 details, please
refer to page
Investment objective The objective of the Fund is to grow the value of investments over the long term 66
through investment in Malaysian shares.
Investment policy and principal The Fund may invest between 70% to 98% of the Funds NAV in local equities 66
investment strategy (both inclusive). As an aggressive Fund, the Fund will be managed with higher
beta and tracking error. The investment policy and strategy of the Fund will be to
invest in stocks which are selected based on their future growth prospects with
benchmarking of the Fund being a secondary consideration. As such, the Fund
may hold a larger percentage of its NAV (may exceed 10%) in stocks of
companies with small capitalization. In addition, liquid assets may also be
strategically used if the Manager feels that the market downside risk is high in the
short term.
are seeking capital appreciation over the long-term and do not require regular
income from their investment;
are willing to take higher risks in anticipation of potentially higher returns;
and/or
Trustee Mayban Trustees Berhad. 198
Distribution policy No distribution is expected to be paid, however, distribution, if any, will be 181
incidental and will vary from period to period depending on interest rates, market
conditions and the performance of the Fund.
Launch date 12 March 1998
Financial year-end 31 December
10
For further
CIMB-Principal Equity Growth Fund details, please
refer to page
Investment objective To provide investors with long term capital growth by investing principally in 67
equities. The Fund also seeks to outperform the FTSE Bursa Malaysia KLCI
benchmark.
Benchmark 50% FTSE Bursa Malaysia KLCI + 50% MSCI AC Asia ex Japan. 67
Investment policy and principal The Fund will invest at least 70% of its NAV in equities in order to gain long-term 67
investment strategy capital growth. The Fund may opt to invest in foreign equities up to a maximum of
50% of its NAV. In addition, liquid assets may be strategically used if the
Manager feels that the market downside risk is high in the short term. In line with
its objective, the investment policy and strategy of the Fund is to have a
diversified portfolio of equities aimed at outperforming the market at different
cycles of the market.
The investment management function for the foreign investments of this Fund
has been delegated to CIMB-Principal (S) with the approval of the SC. CIMB-
Principal (S) will be responsible for investing and managing these foreign
investments in accordance with the investment objective and within the
investment restrictions.
Principal risks Stock specific risk, company specific risk, country risk and currency risk. 44
have a long-term investment horizon;
want a diversified portfolio of equities with some foreign exposure;
are seeking capital appreciation over the long-term; and/or
are willing to take moderate risks in pursuit of potentially better returns.
Launch date 1 October 2003
Financial year-end 30 November
11
For further
CIMB-Principal Equity Growth & Income Fund details, please
refer to page
Investment objective To achieve capital appreciation over the medium to long term through all types of 68
investments that have the potential for above average growth over time.
Benchmark 50% FTSE Bursa Malaysia Top 100 Index + 50% MSCI AC Asia ex Japan*. 68
investment strategy in order to gain long-term capital growth. The Fund may opt to invest in foreign
equities up to a maximum of 50% of its NAV. In line with its objective, the
investment policy and strategy of the Fund will be to invest primarily in equities,
with a bias towards growth stocks that have the potential to deliver long-term
capital appreciation. To a lesser extent, the Fund invests in liquid assets primarily
for the purpose of cash management.
Investor profile The recommended investment timeframe for this Fund is between 3 and 5 years
or more. This Fund is suitable for investors who:
have long-term investment horizon;
seek capital appreciation with dividend income being secondary; and/or
are willing to take moderate risks for potentially better returns from your
investment.
Trustee AmanahRaya Trustees Berhad. 197
Launch date 15 May 1991
* Note: Effective 1 July 2010, the benchmark for this Fund will be replaced with 70% FTSE Bursa Malaysia Top 100 Index + 30%
MSCI AC Asia ex Japan. This is to reflect the change in the foreign exposure.
12
For further
CIMB-Principal Equity Income Fund details, please
refer to page
Fund category / Type Equity / Income.
Investment objective To provide investors with an opportunity to gain consistent and stable income by 69
investing in a diversified portfolio of dividend yielding equities and fixed income
securities. The Fund may also provide moderate capital growth potential over the
medium to long term period.
Benchmark 50% FTSE Bursa Malaysia Top 100 Index + 50% MSCI AC Asia ex Japan. 69
investment strategy in order to gain long-term capital growth. The Fund may opt to invest in foreign
equities up to a maximum of 50% of its NAV. In line with its objective, the
investment policy and strategy of the Fund will be to invest in a diversified
portfolio of high dividend yielding stocks and/or fixed income securities aimed at
providing a stable income stream in the form of distributions to investors.
Principal risks Stock specific risk, company specific risk, credit/default risk, interest rate risk, 45
counterparty risk, country risk and currency risk.
Investor profile The recommended investment timeframe for this Fund is between 3 to 5 years or
more. This Fund is suitable for investors who:
are looking for stable income through equities that offer stable income and
growth potential; and/or
are willing to take moderate risks for potentially moderate capital returns.
Distribution policy Distribution (if any) is expected to be distributed annually, depending on the 181
performance of the Fund and at the Managers discretion.
Launch date 1 October 2003
Financial year-end 31 January
13
For further
CIMB-Principal Small Cap Fund details, please
refer to page
Fund category / Type Equity (Small-Cap) / Growth.
Investment objective The objective of the Fund is to provide growth to the value of Unit holders 70
investments over the long term in an equity fund by investing in undiscovered
smaller companies listed on Bursa Malaysia.
Benchmark FTSE Bursa Malaysia Small Cap Index. 70
Investment policy and principal The Fund may invest between 70% to 98% (both inclusive) of the Funds NAV in 70
investment strategy shares of smaller companies with market capitalization at point of purchase not
exceeding the market capitalization of the largest constituent stock (by market
capitalization) of the benchmark. The investment policy and strategy of the Fund
will therefore focus on investments in securities of such emerging companies with
strong potential growth and hands-on management policies but lacking in track
records. To a lesser extent, the Fund may also invest in other permissible
investments such as liquid assets primarily for the purpose of cash management.
In addition, liquid assets may be strategically used if the Manager feels that the
market downside risk is high in the short term.
Principal risks Stock specific risk, company specific risk and liquidity risk. 45
want to diversify their overall investment portfolio by including shares as an
asset class, in particular, shares of smaller companies;
are seeking higher capital appreciation over the long-term;
term and may even be negative; and/or
are willing to take higher risks in anticipation of potentially higher returns
compared to other kinds of investment instruments.
Launch date 20 April 2004
Maximum approved fund size 1.2 billion units.
14
Fund information Mixed Asset Funds
For further
CIMB-Principal Balanced Fund details, please
refer to page
Fund category / Type Balanced / Growth.
Investment objective The objective of the Fund is to grow the value of investments over the long term 71
through investment in a diversified mix of Malaysian assets.
Benchmark 70% FBM100 + 30% CIMB Bank 1-Month Fixed Deposit Rate. 71
Investment policy and principal The Fund aims to invest in a diversified portfolio of equities and fixed income 71
investment strategy investments. In line with its objective, the investment policy and strategy will be to
maintain a balanced portfolio between equities and fixed income investments in
the ratio of 70:30. The fixed income portion of the Fund is to provide some capital
stability to the Fund whilst the equity portion will provide the added return in a
rising market. The investments by the Fund in equity securities shall be between
50% to 70% of the NAV of the Fund (both inclusive) and investments in fixed
income securities and liquid assets shall not be less than 30% of the NAV of the
Fund with a minimum credit rating of BBB3 or P2 by RAM or equivalent rating
by MARC or BB by S&P or equivalent rating by Moodys or Fitch.
Principal risks Credit/default risk, interest rate risk, counterparty risk, company specific risk and 46
stock specific risk.
want a balanced portfolio that includes equities and fixed income securities;
recognise that a well-diversified fund tends to produce a smoother return over
time than a fund which invests in only one asset class such as equities;
wants a portfolio with preference to higher equity exposure for potentially
higher capital appreciation; and/or
are willing to take moderate risks for moderate capital appreciation.
Distribution policy Distribution (if any) is expected to be distributed once a year every January at the 181
Managers discretion.
15
For further
CIMB-Principal Balanced Income Fund details, please
refer to page
Fund category / Type Balanced / Growth & Income.
Investment objective To seek long term growth in capital and income by investing in all types of 72
investments.
Investment policy and principal The Fund aims to invest in a diversified portfolio of equities and fixed income 72
investment strategy investments. In line with the objective of the Fund, the investment policy and
strategy of the Fund will be to maintain a balanced portfolio between equities and
fixed income investments in the ratio of 60:40. The fixed income portion of the
Fund is to provide some capital stability to the Fund whilst the equity portion will
provide the added return in a rising market. The investments by the Fund in
equity securities shall not exceed 60% of the NAV of the Fund and investments in
fixed income securities and liquid assets shall not be less than 40% of the NAV of
the Fund with a minimum credit rating of BBB3 or P3 by RAM or equivalent
rating by MARC or BB by S&P or equivalent rating by Moodys or Fitch. The
fixed income portion will provide capital stability to the Fund whilst the equity
portion will provide the added return in a rising market.
stock specific risk.
tend to be more conservative in investments;
are seeking capital appreciation with income being secondary;
want a balanced portfolio that includes equities and fixed income securities;
recognise that a well-diversified fund tends to produce a smoother return over
time than a fund which invests in only one asset class such as equities;
wants a portfolio with preference to higher equity exposure for potentially
higher capital appreciation; and/or
are willing to take moderate risks for moderate capital appreciation.
Financial year-end 31 August
16
For further
CIMB-Principal Income Plus Balanced Fund details, please
refer to page
Fund category / Type Balanced / Income.
Investment objective The objective of the Fund is to provide capital growth over the medium to long- 73
term as well as income distributions.
Investment policy and principal The Fund aims to invest in a diversified portfolio of primarily fixed income 73
investment strategy investments and some exposure in equities. The Fund may invest between 60%
to 80% (both inclusive) of its NAV in debentures carrying a minimum credit rating
of BBB3 or P2 rating by RAM or equivalent rating by MARC or BB by S&P or
equivalent rating by Moodys or Fitch. The Fund may also invest between 10% to
40% of its NAV in equities (both inclusive). As part of its equities portfolio, the
Fund may invest in stocks listed on the following foreign stock exchanges:
Australia, China, Hong Kong SAR, India, New Zealand, Singapore, Sri Lanka,
Thailand, Korea, the Philippines, Indonesia and Taiwan subject to a maximum of
12% of its NAV. In line with the objective of the Fund, the investment policy and
strategy of the Fund is to invest primarily in fixed income securities in order to
provide streams of income and some capital stability, whilst having some
exposure to equities in order to provide growth and added return in a rising
market.
Principal risks Credit/default risk, interest rate risk, counterparty risk, company specific risk, 47
stock specific risk, country risk and currency risk.
have a medium-term investment horizon;
want a diversified portfolio yet prefer a higher exposure to fixed interest
securities;
are seeking capital appreciation with income being secondary;
are looking for an investment which has the potential to grow in value over
the medium term and potentially offset the effects of inflation; and/or
are looking for a less volatile investment but can accept that returns may
fluctuate over the short term.
Distribution policy Distribution (if any) is expected to be distributed half-yearly in January and July at 181
the Managers discretion*.
*Note: Pursuant to the Master Deed, the Manager has the right to make provisions for reserves in respect of distribution of the
Fund. If the distribution available is too small or insignificant, any distribution may not be of benefit to the Unit holders as the total
cost to be incurred in any such distribution may be higher than the amount for distribution. The Manager has the discretion to
decide on the amount to be distributed to the Unit holders.
17
Fund information Fixed Income & Money Market Funds
For further
CIMB-Principal Bond Fund details, please
refer to page
Fund category / Type Bond / Income.
Investment objective The objective of the Fund is to provide regular income as well as to achieve 74
medium to long-term capital appreciation through investments primarily in
Malaysian bonds.
Benchmark Quant shop MGS Bond Index (medium sub-index). 74
Investment policy and principal Between 70% to 98% (both inclusive) of the Funds NAV may be invested in 74
investment strategy debentures carrying at least a BBB3 or P3 rating by RAM or equivalent rating
by MARC; BB by S&P or equivalent rating by Moodys or Fitch. The rest of the
Fund is maintained in the form of liquid assets to meet any redemption payments
to Unit holders. In line with its objective, the investment strategy and policy of the
Fund is to invest in a diversified portfolio of approved fixed income securities
consisting primarily of bonds, and aims to provide a steady stream of income.
Principal risks Credit/default risk, interest rate risk, counterparty risk and company specific risk. 48
want a diversified portfolio of fixed interest securities;
want to receive a tax-effective income stream and maintain the value of their
investment over the medium-term; and/or
are looking for a less volatile investment but can accept that returns may
fluctuate over the short-term.
Trustee PB Trustee Services Berhad. 199
Managers discretion*.
Launch date 15 November 1995
18
For further
CIMB-Principal Strategic Bond Fund details, please
refer to page
Fund category / Type Bond / Income & Growth.
Investment objective The objective of the Fund is to provide growth to the value of Unit holders 75
investments over the medium term in a medium to long-term bond portfolio as
well as to provide a source of regular income.
Benchmark Quant shop MGS Bond Index (medium sub-index). 75
Investment policy and principal The Fund may invest between 70% to 98% of its NAV in debentures rated at 75
investment strategy least BBB3 or P3 by RAM or equivalent rating by MARC or BB by S&P or
equivalent rating by Moodys or Fitch and up to 10% of its NAV in warrants and
options. As a strategic bond fund, the Fund may also allocate part of its fixed
income portfolio to be invested in ICULS/exchangeable bonds listed on the Bursa
Malaysia and other eligible exchanges, but subject to a maximum of 10% of its
NAV. In line with its objective, the investment strategy and policy of the Fund is to
invest in a diversified portfolio of approved fixed income securities aimed to
provide a steady stream of income while utilizing warrants and options to provide
added returns when appropriate.
risks associated with investment in warrants/options.
have a medium-term investment horizon;
want a diversified portfolio of investments that includes bonds;
seek for less volatile asset class with some exposure to the equities;
are willing to take moderate risk for potentially higher returns; and/or
can accept that returns may fluctuate over the short-term.
Managers discretion*.
*Note: Pursuant to the Master Deed, the Manager has the right to make provisions for reserves in respect of distribution of the Fund. If the
distribution available is too small or insignificant, any distribution may not be of benefit to the Unit holders as the total cost to be incurred in
any such distribution may be higher than the amount for distribution. The Manager has the discretion to decide on the amount to be
distributed to the Unit holders.
19
For further
CIMB-Principal Deposit Fund details, please
refer to page
Fund category / Type Money Market / Income.
Investment objective The objective of the Fund is to generate regular income for investors through 76
investments primarily in the money market.
Benchmark CIMB Bank Overnight Rate. 76
Investment policy and principal The Fund will place at least 90% of its NAV in deposits. Up to 10% of the Funds 76
investment strategy NAV may be invested in money market instruments and short-term debentures
with a minimum credit rating of BBB3 or P2 by RAM or equivalent rating by
MARC or BB by S&P or equivalent rating by Moodys or Fitch, all of which have
a remaining maturity period of less than 365 days. The Fund will be actively
managed. The investment policy and strategy is to invest in liquid and low risk
short-term investments with a high degree of capital preservation.
Principal risks Credit/default risk, interest rate risk and counterparty risk. 49
Investor profile This Fund is suitable for short-term investments (recommended up to 1 year).
The Fund can be used as a place to:
invest the cash portion of an investment portfolio; and/or
park money aside while waiting to make another investment.
It is also suitable for investors who:
have either a short or medium-term investment horizon;
desire a stream of income;
seek for security and flexibility in investment; and/or
want easy access to their funds.
Trustee HSBC (Malaysia) Trustee Berhad. 200
Distribution policy Monthly, depending on the level of income (if any) the Fund generates. 181
Launch date 8 July 2004
Financial year-end 31 August
20
For further
CIMB-Principal Money Market Income Fund details, please
refer to page
Fund category / Type Money Market / Income.
Investment objective The objective of the Fund is to provide a low risk investment option that normally 77
earns higher interest than traditional bank accounts.
Benchmark The CIMB Bank Overnight Rate. 77
Investment policy and principal The Fund may place at least 90% of its NAV in deposits as well as invest in 77
investment strategy money market instruments and short-term debentures with a minimum credit
rating of BBB3 or P2 by RAM or equivalent rating by MARC or BB by S&P or
equivalent rating by Moodys or Fitch, all of which have a remaining maturity
period of less than 365 days. Up to 10% of the Funds NAV may be invested in
short-term debentures which have a remaining maturity period of more than 365
days but less than 732 days. The Fund will be actively managed. The investment
policy and strategy is to invest in liquid and low risk short-term investments with a
high degree of capital preservation.
Principal risks Credit/default risk, interest rate risk and counterparty risk. 49
Investor profile This Fund is suitable for short-term investments (recommended up to 1 year).
The Fund can be used as a place to:
invest the cash portion of an investment portfolio; and/or
park money aside while waiting to make another investment.
It is also suitable for investors who:
have either a short or medium-term investment horizon;
desire a stream of income;
seek for security and flexibility in investment; and/or
want easy access to their funds
Distribution policy Quarterly, if any, within 14 days after the last day of each quarter. 181
Launch date 18 February 2004
21
Fund information Regional & Global Funds
For further
CIMB-Principal Asia Infrastructure Equity Fund details, please
refer to page
Fund category / Type Feeder Fund / Growth.
Investment objective The Fund aims to achieve long-term capital growth from investments in a 78
diversified portfolio of Asian securities of issuers which are predominantly
engaged in infrastructure activities.
Benchmark The Fund adheres to the reference index of the Target Fund. The Target Fund 78
uses the MSCI AC Asia Pacific ex Japan ND Index as a reference index.
Investment policy and principal A Feeder Fund which invests at least 95% of its NAV in the Invesco Asia 78
investment strategy Infrastructure Fund (a Luxembourg-domiciled fund established in 31 March 2006)
which invests in a diversified portfolio of Asian securities of issuers which are
predominantly engaged in infrastructure activities. The Fund will also maintain up
to a maximum of 5% of its NAV in liquid assets.
Information on the Target Fund:

Management company : Invesco Management S.A.
Investment Manager : Invesco Hong Kong Limited (Invesco Hong Kong)
Regulatory Authority : Luxembourg Commission de Surveillance du Secteur
Financier
Principal risks of the Fund Fund managers risk, legal and tax risk and currency risk. 50
Principal risks of the Target Market risk, industry concentration and infrastructure industry risks, investing in 50
Fund foreign markets, investing in developing markets, investing in smaller companies,
investing in high yield bonds, investing in derivatives, interest rate risk and credit
risk.
Investor profile The recommended investment timeframe for this Fund is 5 to 10 years. The Fund
is suitable for investors who:
seek to participate in the upside potential of Asian infrastructure activities;
seek potentially higher capital appreciation over the long-term;
are willing to take higher risk with higher level of volatility in their investments
in pursuit for potentially higher returns; and/or
want to invest in a fund managed by an established international fund
manager.
Trustee AmTrustee Berhad. 202
Distribution policy As the Fund will be investing in the share class of the Target Fund that does not 181
pay distributions, and consistent with the Funds objective to achieve capital
growth, the Fund is not expected to pay any distribution.
Financial year-end 31 May
22
For further
CIMB-Principal ASEAN Equity Fund details, please
refer to page
Investment objective The Fund aims to provide investors with capital growth over the medium to long- 88
term through investments into ASEAN assets inclusive of equities, ETFs and
derivatives.
Benchmark The FTSE/ASEAN 40 Index. 88
Investment policy and principal The Fund will invest between 65% to 98% of its NAV in the ASEAN equity 88
investment strategy markets (both inclusive). The Fund may also invest up to 30% of its NAV in the
CIMB FTSE/ASEAN 40 or other ETFs that invest predominantly in the ASEAN
countries.
Principal risks Stock specific risk, company specific risk, country risk, currency risk, risks 52
associated with ETF investment (please refer to Appendix I ETF risks on page
230), risk of assets in emerging markets and liquidity risk.
seek investment that participates in the growth of the ASEAN region;
want access to the large and the mid cap companies in the ASEAN region;
are willing to take higher risks in anticipation for potentially higher returns
over the medium to long-term.
23
For further
CIMB-Principal Asian Equity Fund details, please
refer to page
Investment objective The investment objective is to seek capital growth by investing primarily in 89
equities and equity related instruments in the Asia ex-Japan (excluding
Malaysia).
Benchmark MSCI All Country Asia ex Japan Index. 89
Investment policy and principal The Fund aims to achieve capital growth primarily in equity securities of entities 89
investment strategy which are incorporated, or have their area of primary activity in the Asia ex-Japan
(excluding Malaysia). The Fund may also invest in equity securities, which are
listed on recognised exchanges in the capital markets of the Asia ex-Japan.
Under normal market conditions, the Fund will invest primarily in common stocks.
However, since the investment objective is more likely to be achieved through an
investment policy that is flexible and adaptable, the Fund may seek investment
opportunities in other types of transferable securities, including fixed income
securities. The Fund may also invest in instruments issued by companies
incorporated in the Asia ex-Japan but listed or traded on exchanges outside the
Asia ex-Japan.
The Asia ex-Japan includes but not limited to the following countries: Hong Kong,
India, Indonesia, Korea, the Peoples Republic of China, Pakistan, the
Philippines, Singapore, Sri Lanka, Taiwan and Thailand. The investments of the
Fund in the foreign markets are in accordance to the SCs Guidelines on Unit
Trust Funds. They are further subject to the limits approved by Bank Negara
Malaysia.
The investment management function of this Fund has been delegated to CIMB-
Principal Asset Management (S) Pte Ltd with the approval of the SC. CIMB-
Principal (S) will be responsible for investing and managing the Fund in
accordance with the investment objective and within the investment restrictions.
Principal risks Stock specific risk, company specific risk, country risk, currency risk, risk of 53
assets in emerging markets and liquidity risk.
want a well diversified portfolio of Asian region equities;
are willing to take higher risks in anticipation for potentially higher capital
appreciation over the long-term.
Financial year-end 30 June
24
For further
CIMB-Principal Climate Change Equity Fund details, please
refer to page
Investment objective The Fund aims to achieve capital appreciation primarily through investment in a 90
portfolio of global equities securities related to climate change.
Benchmark The Fund does not have any specific benchmark. However, MSCI World Index 90
can be used for comparative purposes. The Target Fund is also using MSCI
World Index as a reference.
Investment policy and principal A Feeder Fund which invests at least 95% of its NAV in the DWS Invest Climate 90
investment strategy Change (a Luxembourg-domiciled fund established in 14 May 2007) which
invests primarily in a portfolio of global equities securities that are primarily active
in business areas suited to restricting or reducing climate change and its effects.
The Fund will also maintain up to a maximum of 5% of its NAV in liquid assets.
Information on the Target Fund :

Management company : DWS Investment S.A,
Investment Manager : DWS-Finanz-Service GmbH
Financier.
Principal risks of the Target Stock specific risk, company specific risk, sector risk and country risk. 54
Fund
want participation in the investments on companies that are primarily active
in business areas suited to restricting or reducing climate change in the
global market; and/or
are willing to take higher risk in pursuit of higher capital appreciation over
medium to long-term.
Distribution policy Given its investment objective, the Fund is not expected to pay any distribution. 181
25
For further
CIMB-Principal Emerging Asia Fund details, please
refer to page
Investment objective To grow the value of Unit holders investments in an equity fund that invests in 97
undervalued and/or undiscovered companies.
Benchmark The MSCI All Country Asia ex Japan Index. 97
Investment policy and principal The Fund will invest between 70% to 98% of its NAV in equities (both inclusive) 97
investment strategy and between 2% to 30% in liquid assets and any other assets, depending on the
market condition. In line with its objective, the investment policy and strategy of
the Fund is to invest primarily in shares of companies that are deemed to be
undervalued as measured by the Price/Earning Ratio, Price/Book, Dividend Yield
or any other appropriate method as may be determined by the Manager.
Principal (S) with the approval of the SC. CIMB-Principal (S) will be responsible
for investing and managing the Fund in accordance with the investment objective
and within the investment restrictions.
Principal risks Stock specific risk, company specific risk, country risk, currency risk and liquidity 54
risk.
want diversified portfolio that includes shares of undervalued and/or
undiscovered companies;
are willing to take higher risks in anticipation of higher capital appreciation
over the long-term.
Financial year-end 31 March
26
For further
CIMB-Principal Global Asset Spectra Fund details, please
refer to page
Fund category / Type Fund-of Funds / Growth.
Investment objective The Fund aims to provide capital growth over the medium to long-term through 97
investments in a diversified portfolio of local and/or foreign collective investment
schemes (including exchange-traded funds).
Benchmark MSCI World Index (25%) + JP Morgan Global Government Bond Index (25%) + 97
S&P/Citigroup BMI Property Index (25%) + S&P GSCITM Total Return Index
(25%).
Investment policy and principal The Fund is a Fund-of-Funds that will invest at least 95% of its NAV in a 97
investment strategy minimum of 5 Target Funds at all times. The investment policy of this Fund is to
invest in Target Funds registered in, but not limited to, Malaysia, Ireland,
Luxembourg, Australia and Hong Kong, but subject to a maximum exposure of
30% for each Target Fund. The Fund will be exposed up to 40% of its NAV in the
following asset classes: equities, fixed income securities, property-related
securities and/or commodity-related securities. The Fund invests more than one
(1) Target Fund for each asset class.
Principal risks Fund managers risk, legal and tax risk and currency risk. 55
Principal risks of the Target Country risk, risks associated with investment in global commodity-related
Fund assets, risks associated with investment in global property-related assets,
credit/default risk and interest rate risk.
seek a diversified investment portfolio across different asset classes with a
focus on developed markets;
are seeking a flexible and dynamic asset allocation, with increased asset
universe as opposed to a conventional fund;
want to invest in established and proven funds managed by renowned
international fund managers;
want access to markets that would otherwise be unavailable or difficult for an
individual to invest in; and/or
are willing to take higher risk for potentially higher capital appreciation.
27
For further
CIMB-Principal Global Balanced Fund details, please
refer to page
Fund category / Type Balanced / Growth & Income.
Investment objective The investment objective is to seek capital appreciation and current income over 100
the long-term by investing in a diversified portfolio of equity and fixed income
securities worldwide (excluding Malaysia).
Benchmark 55% MSCI All Country World Index + 45% JP Morgan Global Government Bond 100
Index.
Investment policy and principal The Fund aims to achieve its investment objective of capital appreciation and 100
investment strategy current income by investing in equity and debt obligations of companies and
governments worldwide (excluding Malaysia). The investment policy and strategy
of the Fund will be to maintain a balanced portfolio between equities and fixed
income investments in the ratio of 60:40. The investments by the Fund in equity
securities shall not exceed 60% of the NAV of the Fund and investments in fixed
income securities and liquid assets shall not be less than 40% of the NAV of the
Fund. The Funds portfolio will normally be invested in equity or equity-linked
securities, including debt or preferred stock convertible or exchangeable into
equity securities, selected primarily on the basis of their capital growth potential
(excluding Malaysia). The Fund will seek income by investing in fixed or floating
rate securities and debt obligations of government, government-related and
corporate issuers in countries around the world (excluding Malaysia).
The investment management function of this Fund has been delegated to TAML
with the approval of the SC. TAML will be responsible for investing and managing
the Fund in accordance with the investment objective and within the investment
restrictions.
Principal risks Stock specific risk, company specific risk, credit/default risk, interest rate risk, 56
counterparty risk, country risk and currency risk.
want a diversified portfolio that includes exposure to foreign equity markets
and fixed income securities;
prefer a portfolio with higher equity exposure in pursuit for potentially higher
capital appreciation;
seek long-term stable income;
are looking for a less volatile investment globally but can accept that returns
may fluctuate over the short-term; and/or
are willing to take moderate risk for potentially higher return.
Financial year-end 28 February*
* 29 February in the event of a leap year.
28
For further
CIMB-Principal Global Growth Fund details, please
refer to page
Investment objective The investment objective is to seek long term capital growth by investing in global 101
equities and debt obligations of companies and governments worldwide
(excluding Malaysia).
Benchmark MSCI All Country World Index. 101
Investment policy and principal The Fund will invest principally in global securities, between 70% to 99.5% of its 101
investment strategy NAV (both inclusive). Under normal market conditions, the investment policy and
strategy of the Fund is to invest primarily in common stocks. However, since the
investment objective is more likely to be achieved through an investment policy
that is flexible and adaptable, it may seek investment opportunities in other types
of securities, such as preferred stock, securities convertible into common stock
and other fixed income securities.
The investment management function of this Fund has been delegated to TAML
with the approval of the SC. TAML will be responsible for investing and managing
the Fund in accordance with the investment objective and within the investment
restrictions.
want a diversified portfolio that includes an exposure to foreign equities;
are seeking capital appreciation with income being secondary ;
are willing to take higher risk in anticipation for potentially higher capital
appreciation.
Financial year-end 28 February*
29
For further
CIMB-Principal Global Titans Fund details, please
refer to page
Investment objective The objective of the Fund is to grow the value of Unit holders investments over 102
the medium to long-term in an equity fund that invests in the global titans market
of the US, Europe and Japan with an exposure to the Malaysian equities market
to balance any short term volatilities.
Benchmark 42% S&P500 + 36% MSCI Europe + 12% MSCI Japan + 10% CIMB Bank 1- 102
Month Fixed Deposit Rate.
Investment policy and principal The Fund will invest at least 50% of its NAV in three (3) collective investment 102
investment strategy schemes, subject to a maximum of 98% of its NAV. The Fund may invest in
Malaysian securities but only up to 50% of its NAV. The Fund seeks to give
investors a broad exposure to three (3) global regions which attract over 90% of
global investment monies in equities. This will be achieved by investing in three
(3) PGI funds which invest into these three (3) markets. The Fund will at all times
be invested in the three (3) PGI funds, each covering separate geographic
regions thus providing diversification and allowing a greater spread of risk. The
allocation between the PGI funds is done through a combination of
macroeconomic data, liquidity trends and the outlook to overweight or
underweight a particular PGI fund. By investing the proper asset allocation
between these three (3) PGI funds, the Fund seeks to exploit the low correlation
between the Asian markets and the rest of the world.
Principal risks Country risk, currency risk, fund managers risk, legal and tax risk, stock specific 57
risk and company specific risk.
want a diversified portfolio that includes exposure to foreign equities;
prefer a higher equity exposure for potentially higher capital appreciation over
the long-term; and/or
Financial year-end 31 March
30
For further
CIMB-Principal Greater China Equity Fund details, please
refer to page
Investment objective The Fund aims to achieve medium to long-term capital growth primarily through 104
investment in a portfolio of equity securities with exposure to the Greater China
region consisting of the Peoples Republic of China, Hong Kong and Taiwan.
Benchmark The Fund adheres to the benchmark of the Target Fund. The benchmark of the 104
Target Fund is the MSCI Golden Dragon Index.
Investment policy and principal A Feeder Fund which invests at least 95% of its NAV in the Schroder ISF Greater 104
investment strategy China (a Luxembourg-domiciled fund established on 28 March 2002) which
invests primarily in equity securities of the Peoples Republic of China, Hong
Kong SAR and Taiwan companies. The Fund will also maintain up to a maximum
of 5% of its NAV in liquid assets.

Management company: Schroder Investment Management (Luxembourg) S.A.
Investment Manager: Schroder Investment Management (Hong Kong) Limited
Regulatory Authority: Luxembourg Commission de Surveillance du Secteur
Financier (CSSF).
Principal risks of the Target Stock specific risk, company specific risk, country risk and liquidity risk. 58
Fund
Investor profile The recommended investment timeframe for this Fund is 3 years or more. The
wish to participate in the upside potential of the Greater China markets;
want to invest in a fund with an established track record;
are willing to take higher risk for potentially higher capital appreciation.
Launch date 12 June 2007
Units in circulation (as at LPD) 1,074.44 million units.
31
For further
CIMB-Principal Lifecycle CIMB-Principal Lifecycle CIMB-Principal Lifecycle
details, please
2017 2022 2027
refer to page
Investment objective The Fund aims to provide investors with capital growth through a well-diversified and 110
evolving asset allocation.
Benchmark (current) Quant shop MGS All Bond Quant shop MGS All Bond Quant shop MGS All Bond 110
Index (35%) + FTSE Bursa Index (30%) + FTSE Bursa Index (25%) + FTSE Bursa
Malaysia Top 100 Index Malaysia Top 100 Index Malaysia Top 100 Index
(30%) + FTSE All-World (30%) + FTSE All-World (30%) + FTSE All-World
Index (35%). Index (40%). Index (45%).
Investment policy and Each Fund seeks to achieve its investment objective by investing in different 110
principal investment combinations of asset classes liquid assets, local bonds, foreign bonds, local equities,
strategy developed equities, emerging equities and local/foreign REITS, either directly or via
collective investment schemes. In line with its objective, the Fund investment policy and
strategy will be based on an evolving asset allocation whilst maintaining a well-
diversified portfolio of mixed assets to suit market conditions. As the Fund approaches
maturity, allocation to less risky assets such as bonds will increase.
The initial asset allocation for each Fund is as follows (based on percentage of each
Funds NAV). For information on how the asset allocation evolves during the Funds
tenure, please refer to page 112.
Liquid assets (0-5%) Liquid assets (0-5%) Liquid assets (0-5%)

Local bonds (5-25%) Local bonds (5-15%) Local bonds (5-15%)
Foreign bonds (5-25%) Foreign bonds (5-20%) Foreign bonds (5-15%)
Local equities (20- Local equities (20- Local equities (20-
35%) 35%) 40%)
Developed equities Developed equities Developed equities
(15-30%) (20-35%) (20-40%)
Emerging equities (0- Emerging equities (0- Emerging equities (0-
10%) 15%) 20%)
Local/foreign REITs (0- Local/foreign REITs (0- Local/foreign REITs (0-
10%). 10%). 10%).
Principal risks Credit/default risk, interest rate risk, counterparty risk, company specific risk, stock 59
specific risk, risks associated with investment in REITs, country risk and currency risk.
Investor profile The Fund is suitable for The Fund is suitable for The Fund is suitable for
investors who seek an investors who seek an investors who seek an
investment plan spanning investment plan spanning investment plan spanning
10 years from the Funds 15 years from the Funds 20 years from the Funds
launch date. launch date. launch date.
Such plans include Such plans include Such plans include
preparation for childrens preparation for childrens preparation for childrens
educational needs, educational needs, educational needs,
additional personal additional personal additional personal
retirement savings or retirement savings or retirement savings or
future savings. future savings. future savings.
Distribution policy Given its investment objective, the Funds are not expected to pay any distribution. 181
Maturity Date The 10th anniversary of the The 15th anniversary of the The 20th anniversary of the
commencement date of commencement date of commencement date of
the Fund, i.e. 10 August the Fund, i.e. 10 August the Fund, i.e. 10 August
2017. 2022. 2027.
Financial year-end 31 August.
Maximum approved fund 600 million units (combined fund size for CIMB-Principal Lifecycle Funds).
size
Units in circulation
5.50 million units. 3.16 million units. 1.71 million units.
(as at LPD)
32
For further
CIMB-Principal MENA Equity Fund details, please
refer to page
Investment objective The Fund aims to achieve a total return through investments primarily in shares 114
of companies domiciled or having significant operations, and listed in the Middle
Eastern and North African countries.
Benchmark The performance benchmark of this Fund is ten per cent (10%) growth in NAV 114
per annum. This is not a guaranteed return and is only a measurement of the
Funds performance. The Fund may not achieve the ten percent (10%) per
annum growth rate in any particular financial year but targets to achieve this
growth over the medium to long-term.
Investment policy and principal A Feeder Fund which invests at least 95% of its NAV in the Ocean Fund/Equities 114
investment strategy MENA Opportunities Fund (a Luxembourg-domiciled fund established on 25th
June 2007) which invests primarily in shares of companies domiciled or having
significant operations, and listed in the MENA countries. The Fund will also
maintain up to a maximum of 5% of its NAV in liquid assets.

Investment Manager/Management Company : Socit Gnrale Gestion S.A.,
(SG2)
Sub-Investment Manager : GLG Partners UK Ltd (GLG)
Financier of Luxembourg
Principal risks of the Target Potential market volatility risk, market illiquidity and foreign investment 60
Fund infrastructure risk, corporate disclosure, accounting and regulatory standards risk,
timing and reliability of official data risk, political climate and extremism risk,
nationalisation and taxation risk, currency risk and liquidity of shares risk.
Investor profile The recommended investment timeframe for this Fund is 3 to 5 years. This Fund
is suitable for investors who:
seek to participate in the upside potential of the MENA region;
want to invest in a fund managed by an established international fund
manager;
are willing to take higher risk in anticipation of potentially higher capital
appreciation.
Trustee Deutsche Trustees Malaysia Berhad. 201
Distribution policy As the Target Fund generally does not pay any distributions, and consistent with 181
this Funds objective to achieve a total return, the Fund is not expected to pay
any distribution.
33
Fees, charges & expenses
This table describes the charges that you may directly incur when you buy units of the Funds. The Application Fee may differ between
distribution channels.
Maximum Application Fee CWA Other IUTAs

(% of the NAV per unit)*
(%) (%)
Equity Funds
CIMB-Principal Equity Fund 6.5 6.5

CIMB-Principal Equity Fund 2 6.5 6.5
CIMB-Principal Equity Aggressive Fund 1 6.5 6.5
CIMB-Principal Equity Growth Fund 6.5 6.5
CIMB-Principal Equity Growth & Income Fund 6.5 6.5
CIMB-Principal Equity Income Fund 6.5 6.5
CIMB-Principal Small Cap Fund 6.0 6.0
Mixed Asset Funds
CIMB-Principal Balanced Fund 5.0 5.0

CIMB-Principal Balanced Income Fund 6.5 6.5
CIMB-Principal Income Plus Balanced Fund 5.0 5.0
Fixed Income & Money Market Funds
CIMB-Principal Bond Fund 2.0 2.0

CIMB-Principal Strategic Bond Fund 2.0 2.0
CIMB-Principal Deposit Fund Nil Nil
CIMB-Principal Money Market Income Fund Nil Nil
Regional & Global Funds
CIMB-Principal Asia Infrastructure Equity Fund 6.5 5.5

CIMB-Principal ASEAN Equity Fund 6.5 6.5
CIMB-Principal Asian Equity Fund 6.5 6.5
CIMB-Principal Climate Change Equity Fund 6.5 5.5
CIMB-Principal Emerging Asia Fund 5.0 5.0
CIMB-Principal Global Asset Spectra Fund 6.5 6.5
CIMB-Principal Global Balanced Fund 6.5 6.5
CIMB-Principal Global Growth Fund 6.5 6.5
CIMB-Principal Global Titans Fund 5.5 5.5
CIMB-Principal Greater China Equity Fund 5.5 5.5
CIMB-Principal Lifecycle Funds 6.5 6.5
CIMB-Principal MENA Equity Fund 6.5 5.5
* Notwithstanding the maximum Application Fee disclosed above, investors may negotiate with the distributors for lower charges. Please
note that investors investing via EPF Members Investment Scheme will only be charged a maximum Application Fee of 3% of the NAV
per unit.
34
This table describes the other charges that you may directly incur when you redeem / transact units of the Funds.
Other charges
Withdrawal Fee Switching Fee Transfer payable directly
Dilution fee/
Fee by investors
(% of the NAV transaction (RM)
when purchasing
per unit) cost factor (RM) or redeeming
units
Equity Funds Since switching is A maximum Any applicable

treated as a of RM50.00 bank charges and
CIMB-Principal Equity Fund Nil Nil withdrawal from may be other bank fees
CIMB-Principal Equity Fund 2 Nil Nil one (1) fund and an charged for incurred as a result
CIMB-Principal Equity Aggressive Fund 1 Nil Nil investment into each of an investment or
another fund, you transfer. a redemption will
CIMB-Principal Equity Aggressive Fund 3 Nil Nil will be charged a be borne by the
CIMB-Principal Equity Growth Fund Nil Nil Switching Fee investor.
CIMB-Principal Equity Growth & Income Fund Nil Nil equal to the
difference (if any)
CIMB-Principal Equity Income Fund Nil Nil between the
CIMB-Principal Small Cap Fund Nil Nil Application Fees of
these two (2) funds.
Mixed Asset Funds Switching Fee will
not be charged if
CIMB-Principal Balanced Fund Nil Nil the fund to be
CIMB-Principal Balanced Income Fund Nil Nil switched into has a
CIMB-Principal Income Plus Balanced Fund Nil Nil lower Application
Fee. In addition, the
Fixed Income & Money Market Funds Manager imposes a
RM100
CIMB-Principal Bond Fund Nil Nil administrative fee
CIMB-Principal Strategic Bond Fund Nil Nil for every switch
made out of a
CIMB-Principal Deposit Fund Nil Nil Fund. However,
CIMB-Principal Money Market Income Fund Nil Nil this RM100
administrative fee is
Regional & Global Funds waived for the first
four (4) switches
CIMB-Principal Asia Infrastructure Equity Fund Nil Nil out of a Fund in
CIMB-Principal ASEAN Equity Fund Nil Nil every calendar
CIMB-Principal Asian Equity Fund Nil Nil year. The Manager
also has the
CIMB-Principal Climate Change Equity Fund Nil Nil discretion to waive
CIMB-Principal Emerging Asia Fund Nil Nil the Switching Fee
CIMB-Principal Global Asset Spectra Fund Nil Nil and/or
administrative fees.
CIMB-Principal Global Balanced Fund Nil Nil
For details please
CIMB-Principal Global Growth Fund Nil Nil refer to page 168.
CIMB-Principal Global Titans Fund Nil Nil
CIMB-Principal Greater China Equity Fund Nil Nil
CIMB-Principal Lifecycle Funds* Up to 1% Nil
(Please refer to
page 168 for the
full schedule of
Withdrawal Fees)
CIMB-Principal MENA Equity Fund Nil Nil
* No Switching Fee will be charged for switches within the CIMB-Principal Lifecycle Funds.
35
This table describes the fees that you may indirectly incur when you invest in the Funds.
Management
Fee Other fees
Trustee Fee
Local Foreign payable
(% p.a. of the (% p.a. of the Fund
custodian custodian indirectly Commissions
NAV of the NAV of the Fund) expenses
fee fee by
Fund) [See NOTE 1]
investors
[See NOTE 1]
Equity Funds
CIMB-Principal Equity RM25,000 Only Save for Up to 100% of
1.50 NOTE 3 Nil
Fund # p.a. expenses NOTE 5, the Application
CIMB-Principal Equity RM20,000 that are there are Fee may be
1.50 NOTE 3 Nil directly no other payable as
Fund 2 p.a.
CIMB-Principal Equity related to fees commissions to
1.50 0.06* Nil Nil the Funds payable Approved
Aggressive Fund 1
CIMB-Principal Equity can be indirectly Distributors.
1.85 0.08 NOTE 2 Nil charged to by For Funds that
Aggressive Fund 3
CIMB-Principal Equity the Funds. investors. do not charge
1.85 0.06* Nil NOTE 4 Examples any Application
Growth Fund
CIMB-Principal Equity of relevant Fee, CIMB-
1.50 0.08 Nil NOTE 4 expenses Principal may
Growth & Income Fund
CIMB-Principal Equity are audit pay a service
1.85 0.06* Nil NOTE 4 fee and tax fee as a portion
Income Fund
agents from the
CIMB-Principal Small
1.50 0.07* NOTE 2 Nil fee. Management
Cap Fund
Fee to
Mixed Asset Funds Approved
Distributors
CIMB-Principal Balanced
1.85 0.08 NOTE 2 Nil who provide
Fund
ongoing
CIMB-Principal Balanced RM20,000 service to you.
1.50 NOTE 3 Nil
Income Fund p.a.
CIMB-Principal Income
1.85 0.08 NOTE 2 NOTE 4
Plus Balanced Fund

CIMB-Principal Bond
1.00 0.05 NOTE 2 Nil
Fund
CIMB-Principal Strategic
1.00 0.05* NOTE 2 Nil
Bond Fund
CIMB-Principal Deposit
0.45 0.07* Nil Nil
Fund
CIMB-Principal Money
0.70 0.05* NOTE 2 Nil
Market Income Fund
CIMB-Principal Asia
Infrastructure Equity Up to 1.80 0.08* NOTE 2 NOTE 4
Fund
CIMB-Principal ASEAN
Up to 1.80 0.08* NOTE 2 NOTE 4
Equity Fund
CIMB-Principal Asian
1.85 0.035* Nil NOTE 4
Equity Fund
CIMB-Principal Climate
Change Equity Fund
CIMB-Principal Emerging
1.50 0.06* NOTE 2 NOTE 4
Asia Fund
CIMB-Principal Global
1.80 0.07* NOTE 2 NOTE 4
Asset Spectra
1.85 0.035* Nil NOTE 4
Balanced Fund
36
Management
Fee Other fees
Trustee Fee
Local Foreign payable
(% p.a. of the (% p.a. of the Fund
custodian custodian indirectly Commissions
NAV of the NAV of the Fund) expenses
fee fee by
Fund) [See NOTE 1]
investors
[See NOTE 1]
1.85 0.035* Nil NOTE 4 As per As per As per previous
Growth Fund
previous previous page
1.80 0.07* NOTE 2 NOTE 4 page page
Titans Fund
CIMB-Principal Greater
China Equity Fund
CIMB-Principal Lifecycle
Funds
CIMB-Principal MENA
Up to 1.80 0.08* NOTE 2 Nil
Equity Fund
# For EF, UTMB is also entitled for reimbursement of all reasonable costs and expenses incurred in respect of the Fund.
* Subject to a minimum fee of RM18,000 p.a.
NOTE 1 Annual Management Fee and annual Trustee Fee are accrued daily based on the NAV of the Fund and paid monthly.
NOTE 2 Trustee Fee includes the local custodian fee but excludes the foreign sub-custodian fee (if any).
NOTE 3 The rates used for the computation of the annual Trustee Fee are as follows:
Size of the Fund % p.a. of NAV of the Fund

First RM20 million 0.06
Next RM20 million 0.05
Any amount in excess of RM100 million 0.01
NOTE 4 Foreign custodian fee (applicable to EGF, EIF, AEF, GBF and GGF only)
The foreign custodian fee (safekeeping fee and transaction fee, including out of pocket charges) is subject to a minimum
of USD 500 per month per fund and is charged monthly in arrears.
The safekeeping fee ranges from a minimum of 0.04% p.a. to a maximum of 0.38% p.a. of the market value of the
respective foreign portfolios, depending on the country invested.
The transaction fee is charged for every transaction and the amounts are dependent on the country invested.
Foreign custodian fee (applicable to EGIF only)

The foreign custodian fee is 0.125% p.a. of the NAV of the foreign portfolio charged monthly in arrears and subject to a
minimum fee of SGD1,800 per month and SGD30 per transaction (transaction fee).
Foreign custodian fee (applicable to IPBF, AIEF, ASEF, CCEF, EMAF, GASF, GTF, GCEF and LF only)
The foreign sub-custodian fee is dependent on the country invested and is charged monthly in arrears.
NOTE 5 Other costs of investing in Feeder Funds (applicable to AIEF, CCEF, GCEF and CMEF only)
There are other fees indirectly incurred by a Feeder Fund such as annual custodian fees and transaction fees of the Target
Fund. As such, Unit holders of a Feeder Fund are indirectly bearing the custodian fees and transaction fees charged at the
Target Fund level.
Anti dilution levy (applicable to AIEF, CCEF, GASF, GTF, GCEF, LF and CMEF only)
An anti dilution levy may be charged in relation to a Funds application for and redemption of units in collective investment
schemes managed by other fund managers.
37
Transaction information
Regular Savings Plan

(RSP)^ EPF
Minimum Minimum
Minimum Minimum Members
initial additional Minimum Minimum
withdrawal balance Investment
investment investment initial additional
(Units) Scheme
(RM) (RM) investment investment (RM)
(RM) (RM)
Equity Funds
RM200 or
CIMB-Principal Equity Fund 500 200 250 500 200 1,000
200 units
RM200 or
CIMB-Principal Equity Fund 2 500 200 250 500 200 1,000
200 units
CIMB-Principal Equity Aggressive RM200 or
500 200 500 500 200 1,000
Fund 1 400 units
CIMB-Principal Equity Aggressive RM200 or
500 200 500 500 200 1,000
Fund 3 400 units
RM200 or
CIMB-Principal Equity Growth Fund 500 200 500 500 200 N/A#
400 units
CIMB-Principal Equity Growth & RM200 or
500 200 250 500 200 N/A#
Income Fund 200 units
RM200 or
CIMB-Principal Equity Income Fund 500 200 250 500 200 N/A#
200 units
RM200 or
CIMB-Principal Small Cap Fund 500 200 1,000 500 200 1,000
800 units
Mixed Asset Funds
RM200 or
CIMB-Principal Balanced Fund 500 200 500 500 200 1,000
400 units
CIMB-Principal Balanced Income RM200 or
500 200 250 500 200 1,000
Fund 200 units
CIMB-Principal Income Plus RM200 or
500 200 500 500 200 N/A#
Balanced Fund 400 units
RM500 or
CIMB-Principal Bond Fund 2,000 500 1,000 1,000 500 2,000
500 units
RM500 or
CIMB-Principal Strategic Bond Fund 2,000 500 1,000 1,000 500 2,000
500 units
RM1,000 or
CIMB-Principal Deposit Fund 10,000 1,000 5,000 1,000 500 10,000
1,000 units
CIMB-Principal Money Market RM1,000 or 5,000
10,000 1,000 N/A N/A N/A
Income Fund 1,000 units
38
Regular Savings Plan
(RSP)^ EPF
Minimum Minimum
Minimum Minimum Members
initial additional Minimum Minimum
withdrawal balance Investment
investment investment initial additional
(Units) Scheme
(RM) (RM) investment investment (RM)
(RM) (RM)
CIMB-Principal Asia Infrastructure RM200 or

500 200 500 500 200 N/A#
Equity Fund 400 units
RM200 or
CIMB-Principal ASEAN Equity Fund 500 200 500 500 200 N/A#
400 units
RM200 or
CIMB-Principal Asian Equity Fund 500 200 500 500 200 N/A#
400 units
CIMB-Principal Climate Change RM200 or
500 200 500 500 200 N/A#
RM200 or
CIMB-Principal Emerging Asia Fund 500 200 1,000 500 200 N/A#
800 units
CIMB-Principal Global Asset RM200 or 400
500 200 500 500 200 N/A#
Spectra Fund units
CIMB-Principal Global Balanced RM200 or
500 200 500 500 200 N/A#
Fund 400 units
RM200 or
CIMB-Principal Global Growth Fund 500 200 500 500 200 N/A#
400 units
RM200 or
CIMB-Principal Global Titans Fund 500 200 500 500 200 N/A#
400 units
CIMB-Principal Greater China RM200 or
500 200 500 500 200 N/A#
RM200 or
CIMB-Principal Lifecycle Fund 500 200 500 500 200 N/A#
400 units
RM200 or
CIMB-Principal MENA Equity Fund 500 200 500 500 200 N/A#
400 units
^
The Regular Savings Plan (RSP) allows you to make regular monthly investments directly from your account held with a bank approved
by CIMB-Principal or Approved Distributors.
#
Currently the EPF does not allow withdrawals for investments into unit trust funds which have a foreign investment exposure. As and
when the EPF should allow such investments, EPF withdrawals for investments into such Funds may be made.
Please note:
1. The Manager reserves the right to change the above stipulated amounts from time to time.
2. There is no restriction on the frequency of withdrawals.
3. There is no exit and re-entry option.
39
Minimum Switching Amount Transfer facility Cooling-off period
Equity Funds
Switching will be conducted Generally, transfer of unit Six (6) Business Days
CIMB-Principal Equity Fund based on the value of your holdings is allowed. from the date the
CIMB-Principal Equity Fund 2 investment in a Fund. The application form is
minimum amount for a switch received and accepted
CIMB-Principal Equity Aggressive Fund 1 must be equivalent to the by the Manager or the
CIMB-Principal Equity Aggressive Fund 3 minimum withdrawal amount Approved Distributors for
CIMB-Principal Equity Growth Fund applicable to a Fund or such the first time.
amounts as the Manager may For details, please refer
CIMB-Principal Equity Growth & Income Fund from time to time decide. Please to page 179.
CIMB-Principal Equity Income Fund note that the minimum amount
CIMB-Principal Small Cap Fund for a switch must also meet the
minimum initial investment
Mixed Asset Funds amount or the minimum
additional investment amount
CIMB-Principal Balanced Fund (as the case may be) applicable
CIMB-Principal Balanced Income Fund to the fund to be switched into.
CIMB-Principal Income Plus Balanced Fund Unit holders must at all times
maintain at least the minimum
Fixed Income & Money Market Funds balance required for a Fund
(please refer to Withdrawals
CIMB-Principal Bond Fund and Minimum balance in
CIMB-Principal Strategic Bond Fund pages 177- 178) to stay
CIMB-Principal Deposit Fund invested in that Fund. The
Manager may, at its absolute
CIMB-Principal Money Market Income Fund discretion, allow switching into
Regional & Global Funds (or out of) a Fund, either
generally (for all Unit holders) or
CIMB-Principal Asia Infrastructure Equity Fund specifically (for any particular
CIMB-Principal ASEAN Equity Fund Unit holder).
CIMB-Principal Asian Equity Fund
CIMB-Principal Climate Change Equity Fund
CIMB-Principal Emerging Asia Fund
CIMB-Principal Global Asset Spectra Fund
CIMB-Principal Global Balanced Fund
CIMB-Principal Global Growth Fund
CIMB-Principal Global Titans Fund
CIMB-Principal Greater China Equity Fund
CIMB-Principal Lifecycle Funds*
CIMB-Principal MENA Equity Fund
* Switching is allowed:
within the CIMB-Principal Lifecycle Funds; and
from other funds into any of these Funds.
Subject always to the Managers absolute discretion, switching out from any of these Funds into other funds is not allowed.
40
Other information
Deeds
This table describes the principal deed and supplemental deed (if any) governing the Funds.
Principal deed and supplemental deed (if any)

Equity Funds
CIMB-Principal Equity Fund Master Deed dated 15 May 2008, a First Supplemental Deed dated 25 June 2008,
CIMB-Principal Equity Fund 2 a Second Supplemental Master deed dated 25 June 2008, a Third Supplemental
Master Deed dated 14 July 2008, a Fourth Supplemental
CIMB-Principal Equity Aggressive Fund 1
Master Deed dated 18 March 2009, a Fifth Supplemental Master Deed dated
CIMB-Principal Equity Aggressive Fund 3 16 July 2009 and an Eighth Supplemental Master Deed dated 14 June 2010.
CIMB-Principal Equity Growth Fund
CIMB-Principal Equity Growth & Income Fund
CIMB-Principal Equity Income Fund
CIMB-Principal Small Cap Fund
Mixed Asset Funds
CIMB-Principal Balanced Fund
CIMB-Principal Balanced Income Fund
CIMB-Principal Income Plus Balanced Fund
CIMB-Principal Bond Fund
CIMB-Principal Strategic Bond Fund
CIMB-Principal Deposit Fund
CIMB-Principal Money Market Income Fund
CIMB-Principal Asia Infrastructure Equity Fund
CIMB-Principal ASEAN Equity Fund
CIMB-Principal Lifecycle Funds
Avenues for advice available to prospective investors
If you have any questions about the information in this Master Prospectus or would like to know more about investing in any of the Funds,
please call CIMB-Principal Customer Care Centre at (03) 7718 3100 between 8:30 a.m. and 5:30 p.m., Mondays to Fridays (except on
Selangor public holidays) or you can email us at cimb-p.custsupport@cimb.com.
There are fees and charges involved and investors are advised to consider the fees and charges before investing in the Funds.
Unit prices and distributions payable, if any, may go down as well as up.
For information concerning certain risk factors which should be considered by prospective investors, see Risk Factors
commencing on page 42.
Past performance of a Fund is not an indication of its future performance.
41
Risk Factors
General Risks of Investing in Unit Trust Funds
Any investment carries with it an element of risk. Therefore, prior to making an investment, prospective investors should consider
the following risk factors in addition to the other information set out in this Master Prospectus.
1. Returns Not Guaranteed

Investors should be aware that by investing in a unit trust fund, there is no guarantee of any income distribution, returns or
capital appreciation. In addition, there is a possibility that the investment objective of the unit trust fund may not be achieved.
However, the Manager endeavours to minimize this risk by ensuring diligent management of the assets of a Fund based on a
structured investment process.
2. General Market Risk

Any purchase of securities will involve some element of market risk. Hence, a unit trust fund may be prone to changing market
conditions as a result of:
global, regional or national economic developments;

governmental policies or political conditions;
development in regulatory framework, law and legal issues;
general movements in interest rates;
broad investor sentiment; and
external shocks (e.g. natural disasters, war and etc.)
In addition, the following risk factors should also be considered:
Security specific risk

There are many specific risks which apply to the individual security. Some examples include the possibility of a company
defaulting on the repayment of the coupon and/or principal of its debentures, and the implications of a companys credit
rating being downgraded. All these risks may be detrimental to the value of the security. To mitigate these security
specific risks, the Manager will perform continuous fundamental research and analysis to assist in security selection and
ensure diversification is provided in the portfolio in order to reduce the volatility, and hence the risk in the portfolio.
Liquidity risk
Liquidity risk can be defined as the ease with which a security can be sold at or near its fair value depending on the
volume traded in the market. If a security encounters a liquidity crunch, the security may need to be sold at a discount to
the market fair value of the security. This in turn would depress the NAV and/or growth of the Fund. Generally, all
investments are subject to a certain degree of liquidity risk depending on the nature of the investment instruments,
market, sector, and other factors. For the funds with more apparent liquidity risk, the Manager will continuously conduct
research and analysis to actively manage the asset allocations.
Inflation risk
Inflation rate risk is the risk of potential loss in the purchasing power of your investment due to a general increase of
consumer prices. Inflation erodes the real rate of your return, that is, the return after you take away the inflation rate. The
inflation rate is commonly reported using the Consumer Price Index. Inflation is thus one of the major risks to investors
over a long-term period and results in uncertainty over the future value of investments. Thus, fixed rate securities are
exposed to higher inflation risk than equities in a rising inflationary environment. This risk can be minimised by investing in
securities that can provide positive real rate of return.
All these may result in uncertainties and fluctuations in the price of the underlying securities of the Funds investment portfolio.
Such movements in the underlying values of the securities will cause the NAV or prices of units to fall as well as rise, and
income produced by a unit trust may also fluctuate. The market risk can be managed by ensuring a rigorous review of
macroeconomic trends by the fund management team to determine investments in markets that are not highly correlated
and/or employing active asset allocation management.
3. Loan Financing Risk

If a loan is obtained to finance the purchases of units of any unit trust fund, investors will need to understand that::
borrowing increases the possibility for gains as well as losses;

if the value of the investment falls below a certain level, investors may be asked by the financial institution to top up the
collateral or reduce the outstanding loan amount to the required level;
the borrowing cost may vary over time depending on the fluctuations in interest rates;
the risks of using loan financing in light of investors investment objectives, attitude towards risk and financial
circumstances should be carefully assessed.
Unit Trust Loan Financing Risk Disclosure Statement Form annexed as Appendix II hereto sets out the risks in detail.
4. Risk of Non-Compliance
This refers to the current and prospective risk to the unit trust fund and the investors interest arising from non-conformance
with laws, rules, regulations, prescribed practices and internal policies and procedures by the manager. This risk may also
occur indirectly due to legal risk, which is risk of circumstances from the imposition and/or amendment on the relevant
regulatory frameworks, laws, rules and other legal practices affecting the fund. Non-compliance may result in a fall in the value
42
of a unit trust fund. In order to mitigate this risk, the Manager imposed stringent internal controls and ensuring that compliance
monitoring processes are undertaken.
5. Managers Risk
The performance of any unit trust funds is dependent amongst others on the experience, knowledge, expertise and investment
techniques/process adopted by the manager and any lack of the above would have an adverse impact on the funds
performance thereby working to the detriment of Unit holders. Investors should also note that the quality of the funds
management are also affected by internal circumstances within the management company such operational and system
matters. Some of this is due to human error and some due to other factors that may be beyond control. Although the
occurrence of such events is very unlikely, the Manager seeks to reduce this risk by implementing a consistent and structured
investment process, systematic operational procedures and processes along with stringent internal controls.
Specific risks associated with the investment portfolio of the Funds

There are specific risks associated with the investment portfolio of each Fund. The key ones include but are not limited to the
following:
Section 1: Equity Funds
1.1 CIMB-Principal Equity Fund

Stock specific risk
Any irregular fluctuation of the value of a particular stock may affect the unit price. The impact is however minimized as the Fund
invests in a wide portfolio of investments, thus spreading the element of risk.
Company specific risk

There are many specific risks which apply to individual companies that may affect the growth of a Fund. Examples include the
possible effect on a company of losing a key executive or the unforeseen entry of a new competitor into the market or the
implications of a companys credit rating being downgraded. As a consequence, the price of the investment in that company such
as its bonds issuances or shares may fall, and subsequently may also affect the growth of the overall Fund. The Manager aims to
reduce all these risks by using diversification that is expected to reduce the volatility as well as the risk to the Funds portfolio. In
addition, the Manager will also perform continuous fundamental research and analysis to aid its active asset allocation
management.
1.2 CIMB-Principal Equity Fund 2

Stock specific risk

management.
1.3 CIMB-Principal Equity Aggressive Fund 1

Stock specific risk

management.
Risks associated with investment in warrants/options

As the Fund may invest in warrants/options, investors should note that there are inherent risks associated with it. Warrants/options
are financial instruments that entitle the holder to the right but not the obligation to fulfil the requirements of a contract entered into
within an agreed timeframe. Warrants/options have values that will change over time, but the change in the value of
warrants/options need not be in the same manner as its underlying assets. The value of warrants/options are influenced by the
current market price of the underlying security, the exercise price of the contract, the cost of holding a position in the underlying
security, the time to expiration of the contract and the estimate of the future volatility of the underlying securitys price over the life of
the contract. The buyer/holder of warrants/options will incur a cost (the premium) to purchase the warrants/options although the
buyer/holder may not exercise the right prior to expiration. Like securities, the fund manager will undertake fundamental research
and analysis on these instruments to ensure that the risk to the portfolio is minimised.
43
Stock specific risk

management.
1.5 CIMB-Principal Equity Growth Fund

Stock specific risk

management.
Country risk
When a Fund invests in foreign markets, the foreign investment portion of the Fund may be affected by risks specific to the
countries in which it invests. Such risks include changes in the countrys economic fundamentals, social and political stability,
currency movements and foreign investment policies. These factors may have an impact on the prices of the Funds investment in
that country and consequently may also affect the Funds NAV and its growth. To mitigate these risks, the Manager will select
securities and collective investment schemes that spread across various countries. The decision on diversification will be based on
constant fundamental research and analysis of the global markets.
Currency risk
This risk is associated with investments that are quoted and/or priced in foreign currency denomination. Malaysian based investors
should be aware that if the Malaysian Ringgit appreciates against the currencies in which the portfolio of the investment is
denominated, this will have an adverse effect on the NAV of the Fund and vice versa. Investors should note that any gains or
losses arising from the movement of the foreign currencies against its home currency may therefore increase/decrease the capital
gains of the investment. Nevertheless, investors should realise that currency risk is considered as one of the major risks to
investments in foreign assets due to the volatile nature of the foreign exchange market. The Manager could utilise a two pronged
approach in order to mitigate the currency risk; firstly, by spreading the investments across differing currencies (i.e. diversification)
and secondly, by hedging the currencies when it is deemed necessary.
1.6 CIMB-Principal Equity Growth & Income Fund

Stock specific risk

management.
Country risk
Currency risk
44
1.7 CIMB-Principal Equity Income Fund

Stock specific risk

management.
Credit / default risk

Investment in debt securities, such as bonds, may involve a certain degree of credit/default risk with regards to the issuers.
Generally, credit risk or default risk is the risk of loss due to the issuers non payment or untimely payment of the investment
amount as well as the returns on investment. This will cause a decline in value of the defaulted debt securities and subsequently
depress the NAV of the Fund. Usually credit risk is more apparent for investment with longer tenure, i.e. the longer the duration, the
higher the credit risk. Credit risk can be managed by performing continuous fundamental credit research and analysis to ascertain
the creditworthiness of its issuer. In addition, the Manager imposes a minimum rating requirement as rated by either local and/or
foreign rating agencies and managed the duration of the investment in accordance with the objective of the Fund. For this Fund, the
debt securities investment must satisfy a minimum rating requirement of at least A3 or P2 by RAM or equivalent rating by
MARC, Moodys, S&P or Fitch.
Interest rate risk

In general, when interest rates rise, bond prices will tend to fall and vice versa. Therefore, the NAV of the Fund may also tend to fall
when interest rates rise or are expected to rise. However, investors should be aware that should the Fund hold a bond till maturity,
such price fluctuations would dissipate as it approaches maturity, and thus the growth of the NAV shall not be affected at maturity.
In order to mitigate interest rates exposure of the Fund, the Manager will manage the duration of the portfolio via shorter or longer
tenured assets depending on the view of the future interest rate trend of the Manager, which is based on its continuous
fundamental research and analysis.
Counterparty risk
When a Fund conducts over-the-counter (OTC) transactions, it may be exposed to risks relating to the credit standing of its
counterparties and their ability to fulfil the conditions of the contracts it enters into with them. Hence, it is generally not applicable to
transactions perform through exchanges. The Manager aims to mitigate this risk by performing fundamental credit research and
analysis to determine the creditworthiness of its counterparty, and thereby impose careful credit limit as a precautionary step to limit
any loss that may arise directly or indirectly as a result of the defaulted transaction.
Country risk
Currency risk
1.8 CIMB-PRINCIPAL SMALL CAP FUND

Stock specific risk

45
management.
Liquidity risk
Liquidity risk is defined as the ease with which a security can be sold at or near its fair value depending on the volume traded on
the market. There is additional liquidity risk when investing in this Fund as it invests primarily in smaller capitalised companies that
are listed on the Bursa Malaysia. As the Funds NAV grows larger, there may be insufficient securities of quality small sized
companies as a larger number of these securities are required to be acquired or disposed before there is any impact on the Fund.
In addition, the acquisition and disposal of such securities may take a longer time as there are generally less ready buyers or
sellers as compared to the securities of larger, more established companies. The effect will be further compounded if the market is
hit by an external shock such as political upheaval, natural disaster etc. Liquidity of the market for these securities will be affected
and may cause difficulties for the Manager to dispose or acquire such securities at or near fair value. Although these problems may
be magnified as the Fund size grows as an active fund manager, the Manager employs consistent fundamental research and
analysis to ensure the feasibility of its management.
Section 2: Mixed Asset Funds
2.1 CIMB-Principal Balanced Fund

depress the NAV of the Fund. Usually credit risk is more apparent for an investment with a longer tenure, i.e. the longer the
duration, the higher the credit risk. Credit risk can be managed by performing continuous fundamental credit research and analysis
to ascertain the creditworthiness of its issuer. In addition, the Manager imposes a minimum rating requirement as rated by either
local and/or foreign rating agencies and manages the duration of the investment in accordance to the objective of the Fund. For this
Fund, the debt securities investment must satisfy a minimum credit rating requirement of at least BBB3 or P2 by RAM or
equivalent rating by MARC or BB by S&P or equivalent rating by Moodys or Fitch.
Interest rate risk

Counterparty risk
transactions performed through exchanges. The Manager aims to mitigate this risk by performing fundamental credit research and
analysis to determine the creditworthiness of its counterparty, and impose a credit limit as a precautionary step to limit any loss that
may arise directly or indirectly as a result of a defaulted transaction.

management.
Stock specific risk

2.2 CIMB-Principal Balanced Income Fund

Interest rate risk

46
Counterparty risk

management.
Stock specific risk

2.3 CIMB-Principal Income Plus Balanced Fund

Interest rate risk

Counterparty risk

management.
Stock specific risk

invests in a diversified portfolio of securities, thus spreading the element of risk.
Country risk
47
Currency risk
Section 3: Fixed Income & Money Market Funds
3.1 CIMB-Principal Bond Fund

Fund, the debt securities investment must satisfy a minimum credit rating requirement of at least a BBB3 or P3 by RAM or
Interest rate risk

Counterparty risk

implications of a companys credit rating being downgraded. As a consequence, the price of any issuance by that company may
fall, and subsequently may also affect the growth of the overall Fund. The Manager aims to reduce all these risks by using
diversification that is expected to reduce the volatility as well as the risk for the Funds portfolio. In addition, the Manager will also
perform continuous fundamental research and analysis to aid its active asset allocation management.
3.2 CIMB-Principal Strategic Bond Fund

Interest rate risk

Counterparty risk
48
Risks associated with investment in warrants/options

As the Fund may invest in warrants/options, investors should note that there are inherent risks associated with it. Warrants/options
are financial instruments that entitle the holder to the right but not the obligation to fulfil the requirements of a contract entered into
within an agreed timeframe. Warrants/options have values that will change over time, but the change in the value of
warrants/options need not be in the same manner as its underlying assets. The value of warrants/options are influenced by the
current market price of the underlying security, the exercise price of the contract, the cost of holding a position in the underlying
security, the time to expiration of the contract and the estimate of the future volatility of the underlying securitys price over the life of
the contract. The buyer/holder of warrants/options will incur a cost (the premium) to purchase the warrants/options although the
buyer/holder may not exercise the right prior to expiration. Like securities, the fund manager will undertake fundamental research
and analysis on these instruments to ensure that the risk to the portfolio is minimised.
3.3 CIMB-Principal Deposit Fund

Interest rate risk

Counterparty risk
Investors should note that investment in the Fund is not the same as placing funds in a deposit with a financial institution.
There are risks involved and investors should rely on their own evaluation to assess the merits and risks when investing
in the Fund.
3.4 CIMB-Principal Money Market Income Fund

Interest rate risk

Counterparty risk
49
Investors should note that investment in the Funds is not the same as placing funds in a deposit with a financial
institution. There are risks involved and investors should rely on their own evaluation to assess the merits and risks when
investing in the Funds.
Section 4: Regional & Global Funds
4.1 CIMB-Principal Asia Infrastructure Equity Fund

Principal risks of the Fund:
Fund managers risk

Since the Fund invests into collective investment schemes managed by other fund houses, CIMB-Principal has no control over the
respective fund houses investment technique and knowledge, operational controls and management. In the event of
mismanagement of the funds and/or fund houses, the NAV of the Fund which invest into the underlying funds would be affected
negatively. Although the probability of such occurrences is minute, should the situation arise CIMB-Principal reserves the right to
seek an alternative collective investment scheme that is consistent with the objective of this Fund.
Legal and tax risk

As the Fund invests into other funds, investors should be aware that the legal and tax treatment of the Target Fund may impact the
Fund in ways that cannot be predicted. For example, taxation bases for preceding fiscal years which have been found to be
incorrect can result in the Fund having to bear the tax burden in the current year, even though the Fund may not have had an
investment in the Target Fund. Conversely, the Fund may also not benefit from any advantageous correction for the current or
preceding fiscal years during which the Fund had an investment in the Target Fund if the Funds investment in the Target Fund is
redeemed before the correction takes place. In addition, a correction of tax data can result in a situation where taxable income or
tax benefits are actually assessed for tax in a different assessment period to the applicable one and this may have a negative effect
on the Fund. Similarly, any legal changes in the treatment of the Target Fund may also affect the Fund.
Currency risk
investments in foreign currency due to the volatile nature of the foreign exchange market. The Manager could utilise two pronged
approaches in order to mitigate the currency risk; firstly, by spreading the investments across differing currencies (i.e.
diversification) and secondly, by hedging the currencies when it is deemed necessary.
Principal risks of the Target Fund:
Market risk
Since the value of the units in a fund depends on the performance of the underlying investments, which are subject to market
fluctuations, no assurance can be given that the investment objective of the Target Fund will be achieved and the amounts invested
can be returned to the investor upon redemption of the units.
Industry concentration and infrastructure industry risks

For an industry-specific fund, the fund manager will not normally maintain a wide spread of investments in order merely to provide a
balanced portfolio of investments. A more concentrated approach is taken than is normally the case in order to take greater
advantage of successful investments. This policy involves a greater than usual degree of risk as the Target Fund will be more
susceptible to adverse economic or regulatory occurrences affecting the infrastructure industry. Infrastructure issuers, including
utilities and companies involved in infrastructure projects, may be subject to a variety of factors that may adversely affect their
business or operations, including high interest costs in connection with capital construction programs, high leverage, costs
associated with environmental and other regulations, the effects of an economic slowdown, surplus capacity, increased competition
from other providers of services, uncertainties concerning energy costs, the effects of energy conservation policies and other
factors. Infrastructure issuers may also be affected by or subject to regulation by various government authorities; government
regulation of rates charged to customers; service interruption due to environmental; operational or other mishaps; the imposition of
special tariffs and changes in tax laws; regulatory policies and accounting standards; and general changes in market sentiment
towards infrastructure assets.
Investing in foreign markets

Investments in foreign markets involve certain risks, including:
the value of the assets of the Target Fund may be affected by uncertainties such as changes in government policies, taxation,
fluctuations in foreign exchange rates, the imposition of currency repatriation restrictions, social and religious instability,
political, economic or other developments in the law or regulations of the countries in which the Target Fund may invest and, in
particular, by changes in legislation relating to the level of foreign ownership in the countries in which the Target Fund may
invest;
accounting, auditing and financial reporting standards, practices and disclosure requirements applicable to some countries in
which the Target Fund may invest may differ from those applicable in Luxembourg (the domicile of the Target Fund) in that
less information is available to investors and such information may be out of date; and
the Target Funds assets may be invested in securities denominated in currencies other than the base currency of the Target
Fund, and any income from these investments will be received in those currencies, some of which may fall against the base
currency of the Target Fund. The Target Fund will compute its net asset value and make any distributions in the base currency
50
of the Target Fund. Therefore, there may be a currency exchange risk which may affect the value of the shares and the
income distributions paid by the Target Fund, if any.
Investing in developing markets

The following considerations apply to the Target Fund which invests in emerging markets or newly industrialised countries. The
securities markets of developing countries are not as large as the more established securities markets and have substantially less
trading volume. The markets may lack liquidity and exhibit high price volatility meaning that the accumulation and disposal of
holdings in some investments may be time consuming and may need to be conducted at unfavourable prices. The market may also
exhibit a high concentration of market capitalization and trading volume in a small number of issuers, representing a limited number
of industries, as well as a high concentration of investors and financial intermediaries. Brokers in developing countries typically are
fewer in number and less capitalised than brokers in established markets. At present, some stock markets in emerging market
countries restrict foreign investment, which result in fewer investment opportunities for the Target Fund. This may have an adverse
impact on the investment performance of the Target Fund.
Many emerging markets are undergoing a period of rapid growth and are less regulated than the worlds leading stock markets and
there may be less publicly available information about companies listed on such markets than is regularly published about
companies listed on other stock markets. In addition, market practices in relation to settlement of securities transactions and
custody assets in emerging markets can provide increased risk to the Target Funds investments in emerging markets.
Investing in smaller companies

Investment in smaller companies may involve greater risks and thus may be considered speculative. Investment in a fund investing
in smaller companies should be considered long-term and not as a vehicle for seeking short-term profits. Many small company
stocks trade less frequently and in smaller volumes and may be subject to more abrupt or erratic price movements than stocks of
larger companies. The securities of small companies may also be more sensitive to market changes than securities in large
companies.
Investing in high yield bonds

High yield bonds are regarded as being predominately speculative as to the issuers ability to make payments of principal and
interest. Investment in such securities involves substantial risk. Issuers of high yield debt securities may be highly leveraged and
may not have available to them more traditional methods of financing. An economic recession may adversely affect an issuers
financial condition and the market value of high yield debt securities issued by such entity. The issuers ability to service its debt
obligations may be adversely affected by specific issuer developments, or the issuers inability to meet specific projected business
forecasts, or the unavailability of additional financing. In the event of bankruptcy of an issuer, the Target Fund may experience
losses and incur costs.
Investing in derivatives
The Target Fund may use financial derivative instruments for efficient portfolio management or to attempt to hedge or reduce the
overall risk of its investments. Such strategies might be unsuccessful and incur losses for the Target Fund, due to market
conditions. The Target Funds ability to use these strategies may be limited by market conditions, regulatory limits and tax
considerations. The use of these strategies involves special risks, including:
dependence on the investment advisers ability to predict movements in the price of the underlying security;
imperfect correlation between the movements in securities or currency on which a derivatives contract is based and
movements in the securities or currencies in the Target Fund;
the absence of a liquid market for any particular instrument at any particular time;
the degree of leverage inherent in futures trading (i.e. the loan margin deposits normally required in future trading means
that futures trading may be highly leveraged). Accordingly, a relatively small price movement in a futures contract may result
in an immediate and substantial loss to the Target Fund;
possible impediments to efficient portfolio management or the ability to meet repurchase requests or other short-term
obligations because a percentage of the Target Funds assets will be segregated to cover its obligations.
Further, use of financial derivatives instruments may involve other risks, such as:
Counterparty risk Financial derivative instrument contracts that are not traded on a recognised exchange are not afforded
the same protections as may apply to participants trading financial derivative instruments on organised exchanges, such as
the performance of guarantee of an exchange clearing house. The Target Fund will be subject to the possibility of
insolvency, bankruptcy or default of a counter party with which the Target Fund trades such instruments, which could result
in substantial loss to the Target Fund.
Repurchase / reverse repurchase or securities lending agreements In the event of insolvency, bankruptcy or default of the
counterparty under a repurchase / reverse repurchase agreement or securities lending agreement, the Target Fund may
experience both delays in liquidating the underlying securities and losses, including the possible decline in the value of
securities, during the period while it seeks to enforce its rights thereto, possible sub-normal levels of income and lack of
access to income during the period and expenses in enforcing its rights. In such circumstances, the collateral will be called
upon. Whilst value of the collateral will be maintained to at least equate to the value of the securities transferred, in the event
of a sudden market movement there is a risk that the value of such collateral may fall below the value of the securities
transferred.
Credit default swaps When these transactions are used in order to eliminate a credit risk in respect of the issuer of a
security, they imply that the Target Fund bears a counterparty risk in respect of the protection seller. Credit default swaps
used for a purpose other than hedging, such as for efficient portfolio management purposes, may present a risk of liquidity if
the position must be liquidated before its maturity for any reason. The valuation of credit default swaps may give rise to
difficulties which traditionally occur in connection with the valuation of OTC contracts.
51
Interest rate risk
If the Target Fund invests in bonds or other fixed income securities, it may fall in value if the interest rates change. Generally, the
prices of debt securities rise when interest rates fall, while the prices fall when interest rates rise. Longer term debt securities are
usually more sensitive to interest rate changes.
Credit risk
If the Target Fund invests in bonds and other fixed income securities, it may be subject to the risk that issuers not make payments
on such securities. An issuer suffering from an adverse change in its financial condition could lower the quality of a security leading
to greater price volatility on that security. A lowering of the credit rating of a security may also offset the securitys liquidity, making it
more difficult to sell.
4.2 CIMB-Principal ASEAN Equity Fund

Stock specific risk

management.
Country risk
currency movements and foreign investments policies. These factors may have impact on the prices of the Funds investment in
securities and collective investment schemes that spread across various countries within its portfolio in an attempt to avoid such
events. The decision on diversification will be based on its constant fundamental research and analysis on the global markets.
Currency risk
Risk associated with ETF investment.

For more information on ETF risk, please refer to Appendix I (page 230).
Risk of assets in emerging markets

Investing in assets from the emerging markets generally entails a greater risk (potentially including considerable legal, economic
and political risks) than investing in assets from the markets of industrialized countries. Emerging markets are markets that are, by
definition, in a state of transition and are therefore exposed to rapid political change and economic declines. During the past few
years, there have been significant political, economic and societal changes in many emerging-market countries. In many cases,
political considerations have led to substantial economic and societal tensions, and in some cases these countries have
experienced both political and economic instability. Political or economic instability can influence investor confidence, which in turn
can have a negative effect on exchange rates, security prices or other assets in emerging markets. The exchange rates and the
prices of securities and other assets in the emerging markets are often extremely volatile. Among other things, changes to these
prices are caused by interest rates, changes to the balance of demand and supply, external forces affecting the market (especially
in connection with important trading partners), trade-related, tax-related or monetary policies, governmental policies as well as
international political and economic events. In most cases, the securities markets in the emerging markets are still in their primary
stage of development. This may result in risks and practices (such as increased volatility) that usually do not occur in developed
securities markets and which may have a negative influence on the securities listed on the stock exchanges of these countries.
Moreover, the markets in emerging-market countries are frequently characterized by illiquidity in the form of low turnover of some of
the listed securities. In comparison to other types of investment that carry a smaller risk, it is important to note that exchange rates,
securities and other assets from emerging markets are more likely to be sold as a result of the flight into quality effect in times of
economic stagnation. As such, investors should bear in mind that investments in emerging markets are subject to higher price
volatility and therefore will tend to have a higher investment risk that will affect the Funds growth. The Manager will attempt to
mitigate all these risk through its active asset allocation management and diversification, in addition to its continuous fundamental
research and analysis.
Liquidity risk
Generally, securities markets in countries other than those of developed countries, while growing in volume, have for the most part
substantially less volume than those of developed countries. Also, many securities traded on these foreign markets are less liquid
and their prices are more volatile than securities of comparable markets in developed countries. In addition, settlement of trades in
some emerging markets is much slower and subject to failure when compared to developed country markets. There may also be
less extensive regulation of the securities markets in emerging markets than in developed countries. As part of its risk
management, the Manager will attempt to reduce the liquidity exposure by an active asset allocation management and
52
diversification within the portfolio. The Manager will also conduct constant fundamental research and analysis to ensure the
feasibility of its management. In addition, the constituents of the FTSE/ASEAN Index constituents are subject to liquidity screening
as determined by the ground rules of the FTSE Global Equity Index Series as follows:
Companies must trade at least 0.5% of their available shares in issue, in ten (10) out of twelve (12) months prior to an index
review to be eligible for inclusion in the index.
Companies must have a market capitalization greater than USD100m.
(Source: http://www.ftse.com/Indices/FTSE_ASEAN_Index_Series/Downloads/ASEAN_Research_Report.pdf)
4.3 CIMB-Principal Asian Equity Fund

Stock specific risk

management.
Country risk
When a Fund invests into foreign markets, the foreign investments portion of the Fund may be affected by risks specific to the
country which it invests in. Such risks include changes in the countrys economic fundamentals, social and political stability,
securities and collective investment schemes that spread across countries within its portfolio in an attempt to avoid such events.
The decision on diversification will be based on its constant fundamental research and analysis on the global markets.
Currency risk
investments in foreign assets due to the volatile nature of the foreign exchange market. The Manager could utilise two pronged
Risk of assets in emerging markets

Investing in assets from the emerging markets generally entails a greater risk (potentially including considerable legal, economic
and political risks) than investing in assets from the markets of industrialized countries. Emerging markets are markets that are, by
definition, in a state of transition and are therefore exposed to rapid political change and economic declines. During the past few
years, there have been significant political, economic and societal changes in many emerging-market countries. In many cases,
political considerations have led to substantial economic and societal tensions, and in some cases these countries have
experienced both political and economic instability. Political or economic instability can influence investor confidence, which in turn
can have a negative effect on exchange rates, security prices or other assets in emerging markets. The exchange rates and the
prices of securities and other assets in the emerging markets are often extremely volatile. Among other things, changes to these
prices are caused by interest rates, changes to the balance of demand and supply, external forces affecting the market (especially
in connection with important trading partners), trade-related, tax-related or monetary policies, governmental policies as well as
international political and economic events. In most cases, the securities markets in the emerging markets are still in their primary
stage of development. This may result in risks and practices (such as increased volatility) that usually do not occur in developed
securities markets and which may have a negative influence on the securities listed on the stock exchanges of these countries.
Moreover, the markets in emerging-market countries are frequently characterized by illiquidity in the form of low turnover of some of
the listed securities.
In comparison to other types of investment that carry a smaller risk, it is important to note that exchange rates, securities and other
assets from emerging markets are more likely to be sold as a result of the flight into quality effect in times of economic stagnation.
As such, investors should bear in mind that investments in emerging markets are subject to higher price volatility and therefore will
tend to have a higher investment risk that will affect the Funds growth. The Manager will attempt to mitigate all these risk through
its active asset allocation management and diversification, in addition to its continuous fundamental research and analysis.
Liquidity risk
Investors should be aware that although all funds are exposed to liquidity risk, the exposure of liquidity risk for this Fund should be
of more concern as the Fund invests into emerging market. Generally, securities markets outside of those of developed countries,
while growing in volume, have for the most part substantially less volume than those of developed countries. Also, many securities
traded on these foreign markets are less liquid and their prices are more volatile than securities of comparable markets in
developed countries. In addition, settlement of trades in some emerging markets is much slower and more subject to failure than in
developed country markets. There may also be less extensive regulation of the securities markets in emerging markets than in
developed countries. As part of its risk management, the Manager will attempt to reduce the liquidity exposure by an active asset
allocation management and diversification within the portfolio. The Manager will also conduct constant fundamental research and
analysis to ensure the feasibility of its management.
53
4.4 CIMB-Principal Climate Change Equity Fund
Fund managers risk

Legal and tax risk

As the Fund invests into other funds, investors should be aware that the legal and tax treatment of the Target Fund(s) may impact
the Fund in ways that cannot be predicted. For example, taxation bases for preceding fiscal years which have been found to be
Currency risk
investments in foreign assets due to the volatile nature of the foreign exchange market. To mitigate currency risk, the Fund
Manager can use currencies hedging techniques when it is deemed as necessary.
Stock specific risk


management.
Sector risk
Stock prices of companies within a sector or industry move together due to sector-specific causal factors, examples of which
include business cycle dynamics, key sector or industry earnings' driver trend, demographic or consumer demand changes, new
technology or product introduction, government policies or regulatory changes and international events. As this Fund will focus its
investments within specific sectors that are related to the prevailing investment themes, its returns are strongly dependent on the
impact of such sector-specific causal factors. These causal factors that drive sector-specific returns lead to sector-specific risks.
The fund manager of the Target Fund will however, endeavour to minimize such risks by investing in a portfolio that diversifies the
Fund's assets within that sector. This is expected to reduce the volatility as well as the risk for the Funds portfolio.
Country risk
that country and consequently may also affect the Funds NAV and its growth. To mitigate these risks, the Target Fund Manager
will select securities and collective investment schemes that spread across various countries within its portfolio in an attempt to
avoid such events. Decision on diversification will be based on its constant fundamental research and analysis on the global
market. In particular to this Fund, the Target Funds highly disciplined portfolio construction methodology used is aim to always
maintain an appropriate level of investment risk, which includes country exposure in the portfolio to manage country risk.
4.5 CIMB-Principal Emerging Asia Fund

Stock specific risk

54
Country risk
that country and consequently may also affect the Funds NAV and its growth. In particular, as this Fund may invest in emerging
markets in Asia, such investments generally entail greater risk than investing in assets from the markets of industrialised countries.
Emerging markets are markets that are by definition, in a state of transition and are therefore exposed to rapid political change
and economic declines. During the past few years, there have been significant political, economic and societal changes in many
emerging market countries which can influence investor confidence and in turn have a negative effect on exchange rates, security
prices or other assets in these emerging markets. Moreover, the markets in emerging market countries are frequently characterised
by illiquidity in the form of low turnover of some of the listed securities. To mitigate these risks, the Manager will select securities
and collective investment schemes that spread across various countries within its portfolio in an attempt to avoid such events. The
decision on diversification will be based on its constant fundamental research and analysis on the global markets.
Currency risk
Liquidity risk
Generally, securities markets in countries other than developed countries, while growing in volume, have for the most part
substantially less volume than those of developed countries. Also, many securities traded on these foreign markets are less liquid
and their prices are more volatile than securities of comparable markets in developed countries. In addition, settlement of trades in
some emerging markets is much slower and subject to failure when compared to developed country markets. There may also be
less extensive regulation of the securities markets in emerging markets than in developed countries. As part of its risk
management, the Manager will attempt to reduce the liquidity exposure by an active asset allocation management and
diversification within the portfolio. The Manager will also conduct constant fundamental research and analysis to ensure the
feasibility of its management.
4.6 CIMB-Principal Global Asset Spectra Fund

Fund managers risk

Legal and tax risk

investment in the Target Fund during those preceding years. Conversely, the Fund may also not benefit from any advantageous
correction for the current or preceding fiscal years during which the Fund had an investment in the Target Fund if the Funds
investment in the Target Fund is redeemed before the correction takes place. In addition, a correction of tax data can result in a
situation where taxable income or tax benefits are actually assessed for tax in a different assessment period to the applicable one
and this may have a negative effect on the Fund. Similarly, any legal changes in the treatment of the Target Fund may also affect
the Fund.
Currency risk
Country risk
55
Risks associated with investment in global commodity-related assets

The value of the Target Fund is vulnerable to factors affecting the natural resources industry such as industry wide supply and
demand factors, change of regulators pertaining to the increased regulation of the environment by governments, changes in laws
relating to mining or production or sales as well as increased labour cost or other costs in mining costs. Nevertheless, investors
should note that the Target Funds highly disciplined portfolio construction methodology used is aim to always maintain an
appropriate level of investment risk including this risk.
Risks associated with investment in global property-related assets

Investment in Real Estate Investment Trust or global property equities fund may subject to risks similar to those associated with the
direct ownership of real estate. This includes terrorist attacks, war or other acts that destroy real property (in addition to securities
market risks). Other factors that could impact the NAV of the Target Funds are changes in real estate values and property taxes,
interest rate, supply and demand of the underlying real estate assets, the management skill and credit worthiness of the issuer.
Cyclical changes in the political, economic and social conditions and change in regulatory laws pertaining to the country the Target
Fund invests in could have an adverse effect on properties values. Nevertheless, investors should note that the Target Funds
highly disciplined portfolio construction methodology used is aim to always maintain an appropriate level of investment risk
including this risk.

Investment in fixed income collective investment schemes may involve a certain degree of credit/default risk with regards to the
issuers of the fixed income investments. Generally, credit risk or default risk is the risk of loss due to the issuers non payment or
untimely payment of the investment amount as well as the returns on investment. This will cause a decline in value of the defaulted
debt securities and subsequently depress the NAV of the Target Fund, thus negatively impacting the Fund. Usually credit risk is
more apparent for an investment with a longer tenure, i.e. the longer the duration, the higher the credit risk. Should the Fund invest
into a fixed income Target Fund, the fund manager will ensure via due diligence exercise on the Target Fund, the appropriate
creditworthiness and duration management of the Target Fund.
Interest rate risk

In general, when interest rates rise, bond prices will tend to fall and vice versa. Therefore, the NAV of the fixed income collective
investment schemes and consequently the Fund may also tend to fall when interest rates rise or are expected to rise. However,
investors should be aware that should the Target Fund hold a bond till maturity, such price fluctuations would dissipate as it
approaches maturity and thus the growth of the NAV shall not be affected at maturity. In order to mitigate interest rates exposure of
the Fund, the fund manager will ensure that the duration of the Target Fund is appropriate for the Fund, depending on its view of
the future interest rate trend based on its continuous fundamental research and analysis.
4.7 CIMB-Principal Global Balanced Fund

Stock specific risk
invests in a diversified portfolio of securities, thus spreading the element of risk.

There are many specific risks, which apply to individual companies that may affect the growth of a Fund. Examples include the
as shares may fall, and subsequently may also affect the growth of the overall Fund. The Manager aims to reduce all these risks by
using diversification that is expected to reduce the volatility as well as the risk for the Funds portfolio. In addition, the Manager will
also perform continuous fundamental research and analysis to aid its active asset allocation management especially in its stock
selection process.

depress the NAV of the Fund. Usually credit risk is more apparent for investment with longer tenure, i.e. the longer the duration, the
higher the credit risk. Credit risk can be managed by performing continuous fundamental credit research and analysis to ascertain
the creditworthiness of its issuer. In addition, the Manager imposes a minimum rating requirement as rated by either local and/or
foreign rating agencies and managed the duration of the investment in accordance to the objective of the Fund. For this Fund, the
debt securities investment must satisfy a minimum rating requirement of at least A3 or P2 by RAM or equivalent rating by
MARC, Moodys, S&P or Fitch.
Interest rate risk

Counterparty risk
transactions perform through exchanges. The Manager aims to mitigate this risk by performing fundamental credit research and
56
analysis to determine the creditworthiness of its counterparty, and thereby impose careful credit limit as a precautionary step to limit
any loss that may arise directly or indirectly as a result of the defaulted transaction.
Country risk
Currency risk
4.8 CIMB-Principal Global Growth Fund

Stock specific risk

selection process.
Country risk
Currency risk
4.9 CIMB-Principal Global Titans Fund

Country risk
that country and consequently may also affect the Funds NAV and its growth. This Fund will be investing in three (3) PGI funds
which invest in the three (3) global titans markets of the US, Europe and Japan. The decision on diversification between the three
(3) funds will be based on constant fundamental research and analysis of the global markets. Furthermore, each PGI fund has a
highly disciplined portfolio construction methodology aimed at maintaining an appropriate level of investment risk, which includes
country exposures within each portfolio to manage country risk.
Currency risk
57
Fund managers risk
mismanagement of the funds and/or fund houses, the NAV of the Fund which invest into these funds would be affected negatively.
Although the probability of such occurrences is minute, should the situation arise, CIMB-Principal reserves the right to seek an
alternative collective investment scheme that is consistent with the objective of this Fund.
Legal and tax risk

investment in the Target Fund during those preceding years. Conversely, the Fund may also not benefit from any advantageous
correction for the current or preceding fiscal years during which the Fund had an investment in the Target Fund if the Funds
investment in the Target Fund is redeemed before the correction takes place. In addition, a correction of tax data can result in a
situation where taxable income or tax benefits are actually assessed for tax in a different assessment period to the applicable one
and this may have a negative effect on the Fund. Similarly, any legal changes in the treatment of the Target Fund may also affect
the Fund.
Stock specific risk


selection process.
4.10 CIMB-Principal Greater China Equity Fund

Fund managers risk

negatively. Although the probability of such occurrences is minute, should the situation arise, CIMB-Principal reserves the right to
Legal and tax risk

Currency risk
Stock specific risk


selection process.
58
Country risk
As the Fund invests in China, Hong Kong SAR and Taiwan, the foreign investment portion of the Fund may be affected by risks
specific to these countries. Such risks include changes in the countrys economic fundamentals, social and political stability,
currency movements and foreign investments policies. Examples include expropriation, nationalisation, exchange rate control
restrictions, confiscatory taxation and limitations on the use or removal of Funds assets. These factors may have impact on the
prices of the Target Funds investment in that country and consequently may also affect the Funds NAV and its growth. To mitigate
these risks, the Target Funds highly disciplined portfolio construction methodology used is aim to always maintain an appropriate
level of investment risk, which includes country exposure in the portfolio to manage country risk.
Liquidity risk
Investors should be aware that although all funds are exposed to liquidity risk, the exposure of liquidity risk for this Fund should be
of more concern as the Fund invests into China, Hong Kong SAR and Taiwan markets. Generally, securities markets in these
markets while growing in volume, have for the most part substantially less volume than those of comparable markets in developed
countries. Also, many securities traded on these foreign markets are less liquid and their prices are more volatile than securities. In
addition, settlement of trades in some emerging markets is much slower and more subject to failure than in developed country
markets. There may also be less extensive regulation of the securities markets in these markets than most developed countries. As
part of its risk management, the Manager will attempt to reduce the liquidity exposure by an active asset allocation management
and diversification within the portfolio. The Manager will also conduct constant fundamental research and analysis to ensure the
feasibility of its management.
4.11 CIMB-Principal Lifecycle Funds

Fund, the debt securities investment must satisfy a minimum credit rating requirement of at least A3 or P2 by RAM or equivalent
rating by MARC or B1 by Moodys and/or BB by S&P or Fitch. Should the Fund invests into a Target Fixed Income Fund, the
Manager will ensure via due diligence exercise on the Target Fund, the appropriate creditworthiness and duration management of
the Target Fund.
Interest rate risk

Counterparty risk

Stock specific risk

Risks associated with investment in REITs

Investment in Real Estate Investment Trust may be subjected to risks similar to those associated with the direct ownership of real
estate. This includes terrorist attacks, war or other acts that destroy real property (in addition to market risk). Other factors that
could impact the NAV of the Fund are changes in real estate values and property taxes, interest rate, supply and demand of the
underlying real estate assets, the management skill and credit worthiness of the issuer. Cyclical changes in the political, economic
and social conditions and change in regulatory laws pertaining to the country the underlying REITs invest in could have an adverse
effect on properties values. Nevertheless, investors should note that the CISs highly disciplined portfolio construction methodology
used is aim to always maintain an appropriate level of investment risk including this risk.
Country risk
59
securities and collective investment schemes that spread across various countries within its portfolio in an attempt to avoid such
events. The decision on diversification will be based on its constant fundamental research and analysis on the global market.
Currency risk
4.12 CIMB-Principal MENA Equity Fund

Fund managers risk

negatively. Although the probability of such occurrences is minute, should the situation arise, CIMB-Principal reserves the right to
Legal and tax risk

Currency risk
investments in foreign currency due to the volatile nature of the foreign exchange market. The Manager may in order to mitigate the
currency risk hedge the currencies when it is deemed necessary.
Principal risks of the Target Fund: OCEAN Fund/Equities MENA Opportunities
Potential Market Volatility

The prices of certain securities listed on stock markets in the Middle East and North Africa have been subject to sharp fluctuations
and sudden declines and no assurance can be given as to the future performance of listed securities in general. Volatility of prices
may be greater than in more developed stock markets. Prospective investors should therefore be aware that the value of Shares
and the income derived from them is likely to fluctuate.
Market Illiquidity and Foreign Investment Infrastructure

In the MENA the marketability of quoted shares is limited due to the restricted opening hours of stock exchanges, a narrow range of
investors and a relatively high proportion of market value being concentrated in the hands of a relatively small number of
shareholders. Trading volume is generally lower than on more developed stock markets and equities are generally less liquid. The
infrastructure for clearing, settlement, registration and custodian services on the primary and secondary markets of MENA countries
is in some cases less developed than in certain other markets and under certain circumstances this may result in the Company
experiencing delays in settling and/or registering transactions in the markets in which it invests particularly if the growth of foreign
and domestic investment in the MENA countries places an undue burden on such investment infrastructure.
Corporate Disclosure, Accounting and Regulatory Standards

Companies in some countries in the Middle East and North Africa are not subject to disclosure, accounting, auditing and financial
standards which are equivalent to those applicable in more developed countries. Such information as is available is often less
reliable. There is less rigorous government supervision and regulation. Regulatory regimes relating to foreign investment are still in
their infancy in these countries. This may mean that rules are being applied for the first time or inconsistently which may result, inter
alia, in the amount and nature of information available to the Company about companies and potential investments being
inconsistent from time to time and from company to company. In addition, companies involved in the provision of financial and
investment services have only recently been subject to a more developed regulatory regime and, in particular, to restrictions on the
disclosure of information. In particular new regulations drafted to impose strict requirements and conditions of such companies
equivalent to those in more of the developed markets have not all been implemented as yet.
Timing and Reliability of Official Data

The quality, timing and reliability of official data published by the Government and Government Agencies of some of the MENA
countries may not always be equivalent to that of more developed countries.
60
Political Climate and Extremism
Investments in the MENA markets will be sensitive to any significant change in political, social or economic policy in the MENA
region. Many countries in the Middle East and North Africa have historically been subject to political instability and their prospects
are tied to the continuation of economic and political liberalisation in the region. Instability may result from factors such as
government or military intervention in decision-making, terrorism, civil unrest, extremism or hostilities between neighbouring
countries. An outbreak of hostilities could result in substantial losses for the Company. Extremist groups in certain countries have
traditionally held anti-Western views and are opposed to openness to foreign investments. If these movements gain strength they
could have a destabilising effect on the investment activities of the Company.
Nationalisation and taxation

In the past, several of the MENA countries governments have undertaken wide-scale nationalisation programmes. Whilst the
current trend is to embark on a programme of privatisations, there can be no assurance that a future government would continue
the programme or would not seek to re-nationalise. There may be the possibility of asset expropriations or future punitive levels of
taxation.
Currency risk
The Company invests primarily in securities denominated in currencies other than US Dollars but its Net Asset Value will be quoted
in US Dollars. The Company may (but is not obliged to) seek to hedge foreign currency risk. However, it is not possible or
practicable to hedge many of the currencies into which the Company will invest, and/or any such hedges may be imperfect.
Accordingly, investors may bear the risk of adverse movements in the US Dollar exchange rate with the currencies in which
investments are denominated and with the investors own base currency. Investors will also bear the risks associated with entering
imperfect hedging transactions.
Liquidity of shares
The shares of the Target Fund are redeemable only on a daily basis and then subject to the limitations and restrictions maximum of
10% of the funds assets. There may also be a lower level of liquidity in the market, which could potentially lead to severe price
volatility. There are liquidity risks where market conditions or investments in the securities market may increase the risk of loss by
making it difficult to effect transactions or liquidate positions. The Board of Directors of Ocean Fund has the power to impose
restrictions on the redemptions of shares as described in the Target Funds prevailing prospectus.
The Funds are managed and portfolio constructed within pre-determined parameters, which have been established by
taking into consideration the objective of the Funds, their targeted performance against benchmark, risk budgets and
controls. The risk management team, within the investment team, monitors and reviews the Funds regularly to ensure that
the parameters are adhered to.
Important
It is important to note that events affecting investments cannot always be foreseen. Therefore, it is not always possible to
protect your investments against all risks. The various asset classes generally exhibit different levels of risk. The
risk/return profile of the various asset classes is usually such that, from the highest end of the risk/return spectrum,
shares are followed by property, then fixed income securities and finally cash. However, this ranking may be influenced
by the time at which you invest and the length of time.
In summary, the value of the underlying assets of the fund will fall and rise. The value of your investment and any
distribution may also fall and rise. Please note, investments in a fund carry significant risks and we recommend that you
read the entire Master Prospectus to assess the risks of investment.
61
Funds Detailed Information
This chapter explains each of the Funds in detail and will be segregated into two (2) parts to ease investors understanding.
PART A
This part covers all CIMB-Principals Funds and is segregated into four (4) different sections. For each of these Funds, we will
describe the individual Funds investment objective and benchmark as well as its investment policy and principal investment
strategy.
SECTION 1: EQUITY FUNDS

1.8 CIMB-Principal Small Cap Fund
SECTION 2: MIXED ASSET FUNDS

SECTION 3: FIXED INCOME & MONEY MARKET FUNDS

SECTION 4: REGIONAL & GLOBAL FUNDS

PART B covers the foreign market admission requirements by the relevant regulatory authorities.
PART C covers the investment parameters and valuation practices of all Funds, which includes authorized investments, limitations
on investments, investment restrictions, valuation of authorized investments, borrowings/financing and securities lending.
62
PART A

Investment objective
To maximise capital growth over the medium to long term through the stock market.
Any material changes to the investment objective of the Fund would require Unit holders approval.
Benchmark
The benchmark of the Fund is the FTSE Bursa Malaysia Top 100 Index.
Information on the benchmark can be obtained from http://www.bursamalaysia.com and local national newspapers.
Investment policy and principal investment strategy
The Fund may invest between 70% to 98% of its NAV in equities (both inclusive) and other permissible investments. In line with its
objective, the investment policy and strategy of the Fund will focus on investment in shares of companies with growth potential and
listed on the main board.
The asset allocation strategy for this Fund is as follows:

between 70% to 98% of the Fund will be invested in equities (both inclusive) and other permissible investments; and
at least 2% in liquid assets.
The asset allocation will be reviewed periodically depending on the countrys economic and stock market outlook. In a rising
market, the 98% limit may be breached. However, the Manager will seek to adjust this within a time frame approved by the Trustee.
CIMB-Principal combines a top-down asset and sector allocation process with a bottom-up stock selection process. The asset
allocation decision is made after a review of macroeconomic trends in Malaysia and other global economies. In particular, CIMB-
Principal analyzes the direction of GDP growth, interest rates, inflation, currencies and government policies. CIMB-Principal will
then assess their impact on corporate earnings and determine if there are any predictable trends. These trends form the basis for
sector selection. Stock selection is based on the growth style of equity investing. As such, the criteria for stock selection would
include improving fundamentals and growth at reasonable valuations. Stock valuation fundamentals considered are earnings per
share growth rate, return on equity, price earnings ratio and net tangible assets multiples.
As part of its risk management strategy, the Fund is constructed and managed within pre-determined guidelines. CIMB-Principal
employs an active asset allocation strategy depending upon the equity market expectations. Where appropriate, the Manager will
also employ an active trading strategy in managing the Fund.
As this is an equity fund, it has a proportionally higher equity exposure. Thus, the Manager is unable to take equity exposure down
substantially even if it feels that the market is close to its peak. The Manager will therefore take a defensive stance and invest in
stocks that have low correlation to market movements. Notwithstanding the aforesaid, in times of adversity in equity markets and as
part of its risk management strategy, CIMB-Principal may from time to time reduce its proportion of higher risk assets, such as
equities and increase its asset allocation to lower risk assets, such as debentures and liquid assets, to safeguard the investment
portfolio of the Fund provided that such investments are within the investment objective of the Fund. When deemed necessary, the
Manager may also utilize derivative instruments, subject to the SC Guidelines, for purposes such as hedging.
63
To achieve maximum capital appreciation over the long term through all types of investments.
Benchmark
The benchmark of the Fund is the FTSE Bursa Malaysia Top 100 Index.
The Fund may invest between 70% to 98% of its NAV in equities (both inclusive) and other permissible investments. In line with its
objective, the investment policy and strategy of the Fund will focus on investment in shares of companies with growth potential.

between 70% to 98% of the Fund will be invested in equities (both inclusive) and other permissible investments; and
The asset allocation will be reviewed periodically depending on the countrys economic and stock market outlook. In a rising
64
To provide investors with long term capital growth by investing principally in equities. The Fund also seeks to outperform the FTSE
Bursa Malaysia KLCI benchmark.
Any material changes to the Funds investment objective would require the approval of Unit holders.
Benchmark
The benchmark of the Fund is the FTSE Bursa Malaysia KLCI.

The Fund will invest between 60% to 98% of its NAV in equities (both inclusive) and up to a maximum of 30% of its NAV may be
invested in warrants and options. Liquid assets may also be strategically used if the Manager perceives that the downside risk of
the market is high in the short-term. In line with its objective, the investment policy and strategy of the Fund is to have a portfolio
comprising of both equities and derivatives which will be rebalanced to suit market conditions.

between 60% to 98% in equities (both inclusive);
up to 30% in warrants and options; and
minimum of 2% in liquid assets.
The Manager will switch between asset classes at different market cycles in order to outperform the benchmark. The Manager will
have higher exposure in derivatives at the bottom of the market cycles and increase exposure in dividend yielding stocks at the
higher end of the market cycles. The asset allocation will be reviewed periodically depending on the countrys economic and stock
market outlook.
The warrants and options will be selected after going through the universe of warrants and options for stocks that CIMB-Principal
believes are fundamentally undervalued and/or have upside potential. Warrants derive their value primarily from their intrinsic
values and their time values. Alternatively, if the Manager believes the underlying security is undervalued, the Manager will also
consider investments in the related warrants and options.
As this is an equity fund which has a minimum of 60% equity exposure, the Manager is unable to take equity exposure down
substantially if it feels that the market is close to its peak. Hence, the Manager may not invest in derivatives when the market
outlook is unfavourable but instead will take a defensive stance and invest in stocks that have low correlation to market
movements. Notwithstanding the aforesaid, in times of adversity in equity markets and as part of its risk management strategy,
CIMB-Principal may from time to time reduce its proportion of higher risk assets, such as equities and increase its asset allocation
to lower risk assets, such as debentures and liquid assets, to safeguard the investment portfolio of the Fund provided that such
investments are within the investment objective of the Fund. When deemed necessary, the Manager may also utilize derivative
instruments, subject to the SC Guidelines for purposes such as hedging.
65
The objective of CIMB-Principal Equity Aggressive Fund 3 is to grow the value of investments over the long-term through
investment in Malaysian shares.
Benchmark
The benchmark of this Fund is the FTSE Bursa Malaysia Top 100 Index.
The Fund may invest between 70% to 98% of the Funds NAV in local equities (both inclusive). As an aggressive Fund, the Fund
will be managed with higher beta and tracking error. The investment policy and strategy of the Fund will be to invest in stocks which
are selected based on their future growth prospects with benchmarking of the Fund being a secondary consideration. As such, the
Fund may hold a larger percentage of its NAV (may exceed 10%) in stocks of companies with small capitalization. In addition, liquid
assets may also be strategically used if the Manager feels that the market downside risk is high in the short term.

between 70% to 98% of the Funds NAV will be invested in equities (both inclusive); and
The asset allocation will be reviewed periodically depending on the countrys economic and stock market outlook.
As this is an equity fund it has a proportionally higher equity exposure. Thus, the Manager is unable to take equity exposure down
66
To provide investors with long-term capital growth by investing principally in equities. The Fund also seeks to outperform the FTSE
Bursa Malaysia KLCI benchmark.
Benchmark
As this Fund may invest at least 70% of its NAV in equities with up to 50% of its NAV in foreign equities, the benchmark of the Fund
is a composite comprising 50% FTSE Bursa Malaysia KLCI + 50% MSCI AC Asia ex Japan.
Information on FTSE Bursa Malaysia KLCI can be obtained from http://www.bursamalaysia.com and local national newspapers.
Information on MSCI AC Asia ex Japan can be obtained from http://www.mscibarra.com/products/indices and Bloomberg L.P.
The Fund will invest at least 70% of its NAV in equities in order to gain long-term capital growth. The Fund may opt to invest in
foreign equities up to a maximum of 50% of its NAV. In addition, liquid assets may be strategically used if the Manager feels that
the market downside risk is high in the short term. In line with its objective, the investment policy and strategy of the Fund is to have
a diversified portfolio of equities aimed at outperforming the market at different cycles of the market.

between 70% to 98% of the Funds NAV will be invested in equities; and
The Manager will switch between sectors and stocks at different market cycles in order to outperform benchmark. The Manager will
have higher exposure to growth stocks at the bottom of the market cycles and increase exposure in defensive stocks at the higher
end of the market cycles. The asset allocation will be reviewed periodically depending on the countrys economic and stock market
outlook.
As this is an equity fund which has a minimum of 70% equity exposure, the Manager is unable to take equity exposure down
substantially if it feels that the market is close to its peak. The Manager will therefore take a defensive stance and invest in stocks
that have low correlation to market movements. Notwithstanding the aforesaid, in times of adversity in equity markets and as part of
its risk management strategy, CIMB-Principal may from time to time reduce its proportion of higher risk assets, such as equities and
increase its asset allocation to lower risk assets, such as debentures and liquid assets, to safeguard the investment portfolio of the
Fund provided that such investments are within the investment objective of the Fund. When deemed necessary, the Manager may
also utilize derivative instruments, subject to the SC Guidelines, for purposes such as hedging.
The Manager has appointed CIMB-Principal (S), as the Sub-Manager for the foreign investments of this Fund with the approval of
the SC and the Trustee. CIMB-Principal (S) will be responsible for investing and managing these foreign investments in accordance
with the investment objective and within the investment restrictions. All costs of this appointment will be borne by the Manager to
ensure no additional fee is levied on the Unit holders of this Fund.
The Fund may invest in foreign markets where the regulatory authorities are members of the International Organization of
Securities Commissions (IOSCO). The Funds investments in foreign markets will be subject to the limit set by BNM and any
conditions imposed by the SC from time to time. Currently, the Funds holding in foreign investments will not exceed 50% of its
NAV. The Sub-Manager may invest beyond this limit provided the approvals are obtained from the relevant authorities (where
necessary) and any increase will be reflected in a supplementary prospectus (if deemed necessary). Notwithstanding the aforesaid,
the Sub-Manager may decide not to invest in foreign securities as may be agreed upon by the Manager from time to time.
67
To achieve capital appreciation over the medium to long-term through all types of investments that have the potential for above
average growth over time.
Any material changes to the objective of the Fund would require Unit holders approval.
Benchmark
As this Fund is an equity fund with up to 50% of its NAV in foreign equities, the benchmark of the Fund is a composite comprising
50% FTSE Bursa Malaysia Top 100 Index + 50% MSCI AC Asia ex Japan*.
Information on FTSE Bursa Malaysia Malaysia Top 100 Index can be obtained from http://www.bursamalaysia.com and local
national newspapers.
* Note: Effective 1 July 2010, the benchmark for this Fund will be revised and is to be read as 70% FTSE Bursa Malaysia Top 100
Index + 30% MSCI AC Asia ex Japan. This is to reflect the change in the foreign exposure.
The Fund may invest between 70% to 98% of its NAV in equities (both inclusive) in order to gain long-term capital growth. The
Fund may opt to invest in foreign equities up to a maximum of 50% of its NAV. In line with its objective, the investment policy and
strategy of the Fund will be to invest primarily in equities, with a bias towards growth stocks that have the potential to deliver long-
term capital appreciation. To a lesser extent, the Fund invests in liquid assets primarily for the purpose of cash management.

The asset allocation strategy will be reviewed periodically depending on the countrys economic and stock market outlook. In a
rising market, this 98% limit may be breached. However, the Manager will seek to adjust this within a time frame approved by the
Trustee.
NAV. Effective 1 July 2010, the Funds holding in foreign investments will not exceed 30% of its NAV. The change is to differentiate
the Fund with other existing Funds in order to provide product variation to investors, i.e. an alternative to those who may not want a
high 50% of the portfolio to be invested offshore. The Sub-Manager may invest beyond this limit provided the approvals are
obtained from the relevant authorities (where necessary) and any increase will be reflected in a supplementary prospectus (if
deemed necessary). Notwithstanding the aforesaid, the Sub-Manager may decide not to invest in foreign securities as may be
agreed upon by the Manager from time to time.
68
To provide investors with an opportunity to gain consistent and stable income by investing in a diversified portfolio of dividend
yielding equities and fixed income securities. The Fund may also provide moderate capital growth potential over the medium to
long-term period.
Benchmark
As this Fund is an equity fund with up to 50% of its NAV in foreign equities, the benchmark of the Fund is a composite comprising
50% FTSE Bursa Malaysia Top 100 Index + 50% MSCI AC Asia ex Japan.
Information on FTSE Bursa Malaysia Top 100 Index can be obtained from http://www.bursamalaysia.com and local national
newspapers.
The Fund may invest between 70% to 98% of its NAV in equities (both inclusive) in order to gain long-term capital growth. The
Fund may opt to invest in foreign equities up to a maximum of 50% of its NAV. In line with its objective, the investment policy and
strategy of the Fund will be to invest in a diversified portfolio of high dividend yielding stocks and/or fixed income securities aimed at
providing a stable income stream in the form of distributions to investors.

between 70% to 98% (both inclusive) of the Funds NAV in a diversified portfolio of dividend yielding equities and/or fixed
income securities; and
The asset allocation will be reviewed periodically depending on the countrys economic and stock market outlook. The Manager will
underweight/overweight equities and/or fixed income securities when necessary.
sector selection. The criteria for stock selection would include stocks that have a medium-term (2 to 5 years) dividend record or a
yearly distribution policy. The Manager will also actively search for under-valued high dividend yielding stocks that may also offer
promising long-term capital appreciation. Stock valuation fundamentals considered are earnings per share growth rate, return on
equity, price earnings ratio and net tangible assets multiples.
As this Fund is defensive in nature and designed to cater for the needs of more risk-averse equity investors, this Fund will serve
well in bear market conditions. However, in bull market the Fund will underperform the market as the Manager will not take on more
risk to divert into highly volatile aggressive stocks. Further, in times of adversity in equity markets and as part of its risk
management strategy, CIMB-Principal may from time to time reduce its proportion of higher risk assets, such as equities and
increase its asset allocation to lower risk assets, such as debentures and liquid assets, to safeguard the investment portfolio of the
Fund provided that such investments are within the investment objective of the Fund. When deemed necessary, the Manager may
also utilize derivative instruments, subject to the SC Guidelines, for purposes such as hedging.
NAV. The Sub-Manager may invest beyond this limit provided the approvals are obtained from the relevant authorities (where
necessary) and any increase will be reflected in a supplementary prospectus (if deemed necessary). Notwithstanding the aforesaid,
the Sub-Manager may decide not to invest in foreign securities as may be agreed upon by the Manager from time to time.
69
The objective of CIMB-Principal Small Cap Fund is to provide growth to the value of Unit holders investments over the long-term
in an equity fund by investing in undiscovered smaller companies listed on Bursa Malaysia.
Benchmark
The benchmark of this Fund is the FTSE Bursa Malaysia Small Cap Index.
The Fund may invest between 70% to 98% (both inclusive) of the Funds NAV in shares of smaller companies with market
capitalization at point of purchase not exceeding the market capitalization of the largest constituent stock (by market capitalization)
of the benchmark. The investment policy and strategy of the Fund will therefore focus on investments in securities of such
emerging companies with strong potential growth and hands-on management policies but lacking in track records. To a lesser
extent, the Fund may also invest in other permissible investments such as liquid assets primarily for the purpose of cash
management. In addition, liquid assets may be strategically used if the Manager feels that the market downside risk is high in the
short term.

The asset allocation strategy will be reviewed periodically depending on the countrys economic and stock market outlook. In a
rising market, this 98% limit may be breached. However, the Manager will seek to adjust this within a time frame approved by the
Trustee.
As small cap stocks tend to be under researched, CIMB-Principal will depend upon proprietary research and selected research
from brokers. In particular, stock selection will depend upon the growth potential of the company and its industry, management
quality, franchise value and corporate governance considerations. The key strategy is to invest in companies that are trading below
its intrinsic value and selling them when the share price has passed its intrinsic value.
As this is an equity fund it has a proportionally higher equity exposure. Thus, the Manager is unable to take equity exposure down
70

The objective of CIMB-Principal Balanced Fund is to grow the value of investments over the long-term through investment in a
diversified mix of Malaysian assets.
Benchmark
As this Fund may invest up to 70% of its NAV in Malaysian shares with the balance in fixed income securities, the benchmark of
this Fund is a composite comprising 70% FBM 100 + 30% CIMB Bank 1-Month Fixed Deposit Rate.
Information on the FBM 100 can be obtained from http://www.bursamalaysia.com and local national newspapers.
Information on the CIMB Bank 1-Month Fixed Deposit Rate can be obtained from http://www.cimbbank.com.my
The Fund aims to invest in a diversified portfolio of equities and fixed income investments. In line with its objective, the investment
policy and strategy will be to maintain a balanced portfolio between equities and fixed income investments in the ratio of 70:30. The
fixed income portion of the Fund is to provide some capital stability to the Fund whilst the equity portion will provide the added
return in a rising market. The investments by the Fund in equity securities shall be between 50% to 70% of the NAV of the Fund
(both inclusive) and investments in fixed income securities and liquid assets shall not be less than 30% of the NAV of the Fund with
a minimum credit rating of BBB3 or P2 by RAM or equivalent rating by MARC or BB by S&P or equivalent rating by Moodys or
Fitch.

the equity securities will be between 50% to 70% of the NAV of the Fund (both inclusive);
investments in fixed income securities and liquid assets shall not be less than 30% of the NAV of the Fund; and
at least 2% its NAV in liquid assets.
The asset allocation will be reviewed periodically depending on the country's economic and stock market outlook. In a rising
CIMB-Principal will adopt an active trading strategy and is therefore especially selective in the buying and selling of securities for
the Fund.
For the equities portion, CIMB-Principal combines a top-down asset and sector allocation process with a bottom-up stock selection
process. The asset allocation decision is made after a review of macroeconomic trends in Malaysia and other global economies. In
particular, CIMB-Principal analyzes the direction of GDP growth, interest rates, inflation, currencies and government policies. CIMB-
Principal will then assess their impact on corporate earnings and determine if there are any predictable trends. These trends form
the basis for sector selection. Stock selection is based on the growth style of equity investing. As such, the criteria for stock
selection would include improving fundamentals and growth at reasonable valuations. Stock valuation fundamentals considered are
earnings per share growth rate, return on equity, price earnings ratio and net tangible assets multiples.
As for the fixed income portion, CIMB-Principal formulates an interest rate outlook by considering factors such as the Malaysian
inflation rate, monetary policies and economic growth. With an interest rate outlook and yield curve analysis, CIMB-Principal
identifies the weighting of the investment tenure and credit for the Fund. In the unlikely event of a credit rating downgrade, the
Manager reserves the right to deal with the security in the best interest of the Unit holders. As active fund managers, CIMB-
Principal has in place flexible tolerance limits to cater to such situations. CIMB-Principal can for example, continue to hold the
downgraded security if the immediate disposal of the security would not be in the best interest of the Unit holders.
As part of its risk management strategy, the Fund is constructed and managed within pre-determined guidelines. Essentially, CIMB-
Principal employs an active asset allocation strategy depending upon the equity market expectations, and at the same time
monitors the bond portfolio according to three (3) parameters: tenor, credit ratings and sector. The duration of the bond portfolio is
also monitored and modified according to the Managers interest rate outlook (i.e. the sensitivity of the portfolio to interest rate
changes).
In response to adverse conditions and as part of its risk management strategy, CIMB-Principal may from time to time reduce its
proportion of higher risk assets, such as equities and increase its asset allocation to lower risk assets, such as debentures and
liquid assets, to safeguard the investment portfolio of the Fund provided that such investments are within the investment objective
of the Fund. Additionally, for investments in debt markets, the Manager may reduce holdings in longer tenured assets and channel
these monies into shorter-term interest bearing deposits. When deemed necessary, the Manager may also utilize derivative
instruments, subject to the SC Guidelines, for purposes such as hedging.
71
To seek long-term growth in capital and income by investing in all types of investments.
Benchmark
As this Fund may invest up to 60% of its NAV in equities with the balance in fixed income securities, the benchmark of the Fund is
a composite comprising 60% FBM 100 + 40% CIMB Bank 1-month Fixed Deposit Rate.
Information on FBM 100 can be obtained from http://www.bursamalaysia.com and local national newspapers.
Information on CIMB Bank 1-month Fixed Deposit Rate can be obtained from CIMB Bank website http://www.cimbbank.com.my
The Fund aims to invest in a diversified portfolio of equities and fixed income investments. In line with the objective of the Fund, the
investment policy and strategy of the Fund will be to maintain a balanced portfolio between equities and fixed income investments
in the ratio of 60:40. The fixed income portion of the Fund is to provide some capital stability to the Fund whilst the equity portion
will provide the added return in a rising market. The investments by the Fund in equity securities shall not exceed 60% of the NAV
of the Fund and investments in fixed income securities and liquid assets shall not be less than 40% of the NAV of the Fund with a
minimum credit rating of BBB3 or P3 by RAM or equivalent rating by MARC or BB by S&P or equivalent by Moodys or Fitch.
The fixed income portion will provide capital stability to the Fund whilst the equity portion will provide the added return in a rising
market.

the equity securities will not exceed 60% of the Net Asset Value of the Fund;
investments in fixed income securities and liquid assets shall not be less than 40% of the NAV of the Fund; and
at all times, at least 2% of the NAV of the Fund must be maintained in liquid assets.
The asset allocation will be reviewed periodically depending on the country's economic and stock market outlook. In a rising
CIMB-Principal will adopt an active trading strategy and is therefore especially selective in the buying and selling of securities for
the Fund.
For the fixed income portion, CIMB-Principal formulates the interest rate outlook by considering factors such as the Malaysian
investment manager reserves the right to deal with the security in the best interest of the Unit holders. As active fund managers,
CIMB-Principal has in place flexible tolerance limits to cater to such situations. CIMB-Principal can for example, continue to hold the
earnings per share growth rate, return on equity, price earnings ratio and net tangible assets multiples.
changes).
Securities Commission (IOSCO) including but not limited to the United States of America, the United Kingdom, France, Germany,
the Asia Pacific ex-Japan region (i.e. Hong Kong SAR, Taiwan, Korea, Peoples Republic of China, Indonesia, Malaysia, India,
Thailand, the Philippines, Sri Lanka, Singapore, Vietnam, Australia and New Zealand), the Middle Eastern and North African
(MENA) countries (i.e. Egypt, Jordan, Oman, Qatar, Bahrain, United Arab Emirates, Tunisia, Morocco and other markets of the
region) and Brazil. The Funds investments in foreign markets will be subject to the limit set by BNM and any conditions imposed by
the SC from time to time. Currently, this Funds holding in foreign investments will not exceed 30% of its NAV. The Manager may
invest beyond this limit provided the necessary approvals are obtained from the relevant authorities (where necessary) and any
increase will be reflected in a supplementary prospectus (if deemed necessary). Notwithstanding the aforesaid, the Manager may
decide not to invest in foreign securities.
72
The objective of CIMB-Principal Income Plus Balanced Fund is to provide capital growth over the medium to long-term as well as
income distributions.
Benchmark
As this Fund may invest up to 40% of its NAV in shares with the balance in fixed income securities, the benchmark of this Fund is a
composite comprising 40% FBM 100 + 60% CIMB Bank 1-Month Fixed Deposit Rate.
Information on the FBM 100 can be obtained from http://www.bursamalaysia.com and local national newspapers.
The Fund aims to invest in a diversified portfolio of primarily fixed income investments and some exposure in equities. The Fund
may invest between 60% to 80% (both inclusive) of its NAV in debentures carrying a minimum credit rating of BBB3 or P2 rating
by RAM or equivalent rating by MARC or BB by S&P or equivalent rating by Moodys or Fitch. The Fund may also invest between
10% to 40% of its NAV in equities (both inclusive). As part of its equities portfolio, the Fund may invest in stocks listed on the
following foreign stock exchanges: Australia, China, Hong Kong SAR, India, New Zealand, Singapore, Sri Lanka, Thailand, Korea,
the Philippines, Indonesia and Taiwan, subject to a maximum of 12% of its NAV. In line with the objective of the Fund, the
investment policy and strategy of the Fund is to invest primarily in fixed income securities in order to provide streams of income and
some capital stability, whilst having some exposure to equities in order to provide growth and added return in a rising market.

Between 60% to 80% (both inclusive) of its NAV in fixed income
between 10% - 40% of its NAV in equities (both inclusive)
The asset allocation will be reviewed periodically depending on the countrys economic and stock market outlook. CIMB-Principal
will adopt an active trading strategy and is therefore especially selective in the buying and selling of securities for the Fund.
For the fixed income portion, CIMB-Principal formulates the interest rate outlook by considering factors such as the Malaysian
Manager reserves the right to deal with the security in the best interest of the Unit holders. As active fund managers, CIMB-
Principal has in place flexible tolerance limits to cater to such situations. CIMB-Principal can for example, continue to hold the
earnings per share growth rate, return on equity, price earnings ratio and net tangible assets multiples
changes).
73

The objective of CIMB-Principal Bond Fund is to provide regular income as well as to achieve medium to long-term capital
appreciation through investments primarily in Malaysian bonds.
Benchmark
The benchmark of the Fund is the Quant shop MGS Bond Index (Medium Sub-Index).
Information on the benchmark can be obtained from http://www.quantshop.com
Between 70% to 98% (both inclusive) of the Funds NAV may be invested in debentures carrying at least a BBB3 or P3 rating by
RAM or equivalent rating by MARC or BB by S&P or equivalent rating by Moodys or Fitch. The rest of the Fund is maintained in
the form of liquid assets to meet any redemption payments to Unit holders. In line with its objective, the investment strategy and
policy of the Fund is to invest in a diversified portfolio of approved fixed income securities consisting primarily of bonds, aimed to
provide a steady stream of income.
The asset allocation for the Fund is as follows:

between 70% to 98% (both inclusive) in debentures and other permissible investments; and
The asset allocation strategy will be reviewed periodically depending on the countrys economic and bond market outlook. CIMB-
Principal will adopt an active trading strategy and will be especially selective in the buying and selling of securities for the Fund.
CIMB-Principal formulates an interest rate outlook through examining factors such as the Malaysian inflation rate, monetary policies
and economic growth. With an interest rate outlook and yield curve analysis, CIMB-Principal identifies the weighting of the
investment tenure and credit for the Fund.
In the unlikely event of a credit rating downgrade, the Manager reserves the right to deal with the security in the best interest of the
Unit holders. As active fund managers, CIMB-Principal has in place flexible tolerance limits to cater to such situations. CIMB-
Principal can for example, continue to hold the downgraded security if the immediate disposal of the security would not be in the
best interest of the Unit holders.
Principal monitors the bond portfolio according to three (3) parameters: tenor, credit ratings and sector. The duration of the bond
portfolio is also monitored and modified according to the Managers interest rate outlook (i.e. the sensitivity of the portfolio to
interest rate changes).
In response to adverse conditions and as part of its risk management strategy, CIMB-Principal may reduce holdings in longer
tenured assets and channel these monies into shorter-term interest bearing deposits. The Manager may also from time to time
invest in liquid assets to safeguard the investment portfolio of the Fund provided that such investments are within the investment
objective of the Fund. When deemed necessary, the Manager may also utilize derivative instruments, subject to the SC Guidelines
for purposes such as hedging.
74
The objective of CIMB-Principal Strategic Bond Fund is to provide growth to the value of Unit holders investments over the
medium term in a medium to long-term bond portfolio as well as to provide a source of regular income.
Benchmark
The benchmark of the Fund is the Quant shop MGS Bond Index (Medium Sub-Index).
Information on the benchmark can be obtained from http://www.quantshop.com
The Fund may invest between 70% to 98% of its NAV in debentures rated at least BBB3 or P3 by RAM or equivalent rating by
MARC or BB by S&P or equivalent rating by Moodys or Fitch and up to 10% of its NAV in warrants and options. As a strategic
bond fund, the Fund may also allocate part of its fixed income portfolio to be invested in ICULS/exchangeable bonds listed on
Bursa Malaysia and other eligible exchanges, but subject to a maximum of 10% of its NAV. In line with its objective, the investment
strategy and policy of the Fund is to invest in a diversified portfolio of approved fixed income securities aimed to provide a steady
stream of income while utilizing warrants and options to provide added returns when appropriate.
CIMB-Principal will adopt an active trading strategy and will be especially selective in the buying and selling of securities for the
Fund.
For the fixed income portion, CIMB-Principal formulates an interest rate outlook through examining factors such as the Malaysian
identifies the weighting of the investment tenure and credit for the Fund.
The warrants and options will be selected after going through the universe of warrants and options for stocks that CIMB-Principal
believes are fundamentally undervalued and/or have upside potential. Warrants derive their value primarily from their intrinsic
values and their time values. Alternatively, if the Manager believes the underlying security is undervalued, the Manager will also
consider investments in the related warrants and options.
Principal monitors the bond portfolio according to three (3) parameters: tenor, credit ratings and sector. The duration of the bond
portfolio is also monitored and modified according to the Managers interest rate outlook (i.e. the sensitivity of the portfolio to
interest rate changes).
In response to adverse conditions and as part of its risk management strategy, CIMB-Principal may reduce holdings in longer
tenured assets and channel these monies into shorter-term interest bearing deposits. The Manager may also from time to time
invest in liquid assets to safeguard the investment portfolio of the Fund provided that such investments are within the investment
75
The objective of the Fund is to generate regular income for investors through investments primarily in the money market.
Benchmark
The benchmark of the Fund is the CIMB Bank Overnight Rate.

Information on the benchmark can be obtained from http://www.cimb-principal.com.my
The Fund will place at least 90% of its NAV in deposits. Up to 10% of the Funds NAV may be invested in money market
instruments and short-term debentures with a minimum credit rating of BBB3 or P2 by RAM or equivalent rating by MARC or
BB by S&P or equivalent rating by Moodys or Fitch, all of which have a remaining maturity period of less than 365 days. The
Fund will be actively managed. The investment policy and strategy is to invest in liquid and low risk short-term investments with a
high degree of capital preservation.
The investment strategy adheres to the SC Guidelines pertaining to investments for a money market fund. As such any changes to
these guidelines would tantamount to a change in this investment strategy.
CIMB-Principal formulates an interest rate outlook by considering factors such as the Malaysian inflation rate, monetary policies
investment tenure and credit for the Fund. The ratings of the securities will be at least A3 or P2 by RAM or equivalent rating by
MARC or BB by S&P or equivalent rating by Moodys or Fitch.
In the unlikely event of a credit rating downgrade, the investment manager reserves the right to deal with the security in the best
interest of the Unit holders. As active fund managers, CIMB-Principal has in place flexible tolerance limits to cater to such
situations. CIMB-Principal can for example, continue to hold the downgraded security if the immediate disposal of the security
would not be in the best interest of the Unit holders.
will focus on managing the investment impact caused by the changes in the general interest rate trend and the credit risk profile of
the individual debt issuers. The interest rate risk will be managed by investing mainly in securities with less than one (1) year to
maturity, while credit risk will be managed via investments in investment grade securities. CIMB-Principal will take reasonable steps
to ensure that the above potential risks are adequately managed by adopting various investment strategies, such as diversification
in terms of asset allocation, credit and sectoral exposure, as well as duration management to appropriately adjust the risk and
return characteristics of the Fund.
Investment in the Fund is not the same as placing funds in a deposit with a financial institution. There are risks involved
and investors should rely on their own evaluation to assess the merits and risks when investing in the Fund.
76
The objective of CIMB-Principal Money Market Income Fund is to provide a low risk investment option that normally earns higher
interest than traditional bank accounts.
Benchmark
The benchmark of the Fund is the CIMB Bank Overnight Rate.

Information on the benchmark can be obtained from http://www.cimbbank.com.my
The Fund may place at least 90% of its NAV in deposits as well as invest in money market instruments and short-term debentures
with a minimum credit rating of BBB3 or P2 by RAM or equivalent rating by MARC or BB by S&P or equivalent rating by
Moodys or Fitch, all of which have a remaining maturity period of less than 365 days. Up to 10% of the Funds NAV may be
invested in short-term debentures which have a remaining maturity period of more than 365 days but less than 732 days. The Fund
will be actively managed. The investment policy and strategy is to invest in liquid and low risk short-term investments with a high
degree of capital preservation.
The investment strategy adheres to the SC Guidelines pertaining to investments for a money market fund. As such any changes to
these guidelines would tantamount to a change in this investment strategy.
CIMB-Principal formulates an interest rate outlook by considering factors such as the Malaysian inflation rate, monetary policies
investment tenure and credit for the Fund. The ratings of the securities will be at least A3 or P2 by RAM or equivalent rating by
MARC or BB by S&P or equivalent rating by Moodys or Fitch.
will focus on managing the investment impact caused by the changes in the general interest rate trend and the credit risk profile of
the individual debt issuers. The interest rate risk will be managed by investing mainly in securities with less than one (1) year to
maturity, while credit risk will be managed via investments in investment grade securities. CIMB-Principal will take reasonable steps
to ensure that the above potential risks are adequately managed by adopting various investment strategies, such as diversification
in terms of asset allocation, credit and sectoral exposure, as well as duration management to appropriately adjust the risk and
return characteristics of the Fund.
Investment in the Fund is not the same as placing funds in a deposit with a financial institution. There are risks involved
and investors should rely on their own evaluation to assess the merits and risks when investing in the Fund.
77

The Fund aims to achieve long term capital growth from investments in a diversified portfolio of Asian securities of issuers which
are predominantly engaged in infrastructure activities.
Benchmark
The Fund adheres to the reference index of the Target Fund. The Target Fund uses the MSCI AC Asia Pacific ex Japan Index as a
reference index.
Information on the index can be obtained from http://www.mscibarra.com/products/indices
The Fund is a Feeder Fund that invests at least 95% of the Funds NAV in the Invesco Asia Infrastructure Fund (a Luxembourg-
domiciled fund) which invests in a diversified portfolio of Asian securities of issuers which are predominantly engaged in
infrastructure activities. Information on Invesco Asia Infrastructure Fund is detailed below.
at least 95% of the Funds NAV will be invested in the Invesco Asia Infrastructure Fund;
up to 5% of the Funds NAV will be invested in liquid assets for liquidity purposes.
The investment strategy adheres to the SC Guidelines pertaining to Feeder Funds. As such, any changes to these guidelines would
tantamount to a change in this investment strategy.
If, in the opinion of the Manager, the Invesco Asia Infrastructure Fund no longer meets the Funds investment objective, and/or
when acting in the best interests of Unit holders, CIMB-Principal may replace the Invesco Asia Infrastructure Fund with another
collective investment scheme that is consistent with the objective of this Fund, subject to the approval of the Unit holders. The
switch to another collective investment scheme may be performed on a staggered basis to facilitate a smooth transition. This is
applicable should the Invesco Asia Infrastructure Fund impose any conditions in relation to redemption of units or if the manager of
the newly identified Target Fund exercises its discretion to apply an Anti Dilution Levy* in relation to applications for units. Thus, the
time frame required to perform the transition will depend on such conditions, if any, imposed by the Invesco Asia Infrastructure
Fund as well as any conditions associated with an Anti Dilution Levy that may be charged at the newly indentified Target Fund
level. Hence during the transition period, the Funds investment may differ from the stipulated investment strategies.
* Anti Dilution Levy is an allowance for fiscal and other charges that is added to the net asset value per unit to reflect the costs of
investing application monies in underlying assets of the Target Fund. The levy is intended to be used to ensure that all investors
in the Target Fund are treated equitably by allocating transaction costs to the investors whose transactions give rise to those
costs.
The risk management strategies and techniques employed will be at the Target Fund level whereby the fund manager of the Target
Fund employs a risk management process which combines financial techniques and instruments to manage at any time the risk of
various positions and their contribution to the overall risk of the Target Funds portfolio.
78
About Invesco Asia Infrastructure Fund
Invesco Asia Infrastructure Fund (the Target Fund) is a sub-fund of Invesco Funds (the SICAV). The SICAV is incorporated as a
socit anonyme under the laws of the Grand-Duchy of Luxembourg and qualifies as an open-ended socit dinvestissement
capital variable. The SICAV is authorized as an undertaking for collective investment in transferable securities under the law of 20
December, 2002. The SICAV was incorporated in Luxembourg on 31 March 2006.
The Directors of the SICAV are responsible for the management and administration of the SICAV and for its overall investment
policy. The Directors of the SICAV have appointed Invesco Management S.A. as management company to be responsible on a day
to day basis under the supervision of the Directors, for providing administration, marketing, investment management and advice
services in respect of all Invesco Funds. Invesco Management S.A. has delegated the investment management services to Invesco
Hong Kong Limited (Invesco Hong Kong), who has discretionary investment management powers in respect of the Target Fund.
Invesco Management S.A. was incorporated as a socit anonyme under the laws of the Grand Duchy of Luxembourg on 19th
September 1991 and its articles of incorporation are deposited with the Luxembourg Registre de Commerce et des Socits.
Invesco Management S.A. is approved as a management company regulated by chapter 13 of the 2002 Law. As at 1 March 2010,
its capital amounts to USD 3,840,000 and the Directors of the SICAV are also composing the board of directors of Invesco
Management S.A.
Invesco Management S.A. shall ensure compliance of the SICAV with the investment restrictions and oversee the implementation
of the SICAVs strategies and investment policy. Invesco Management S.A. shall send reports to the Directors of the SICAV on a
quarterly basis and inform each board member without delay of any noncompliance of the Company with the investment
restrictions.
The Target Fund has appointed the Bank of New York Mellon (International) Limited, Luxembourg Branch, (BNYMI) as the
Custodian of the assets of the SICAV which will be held either directly by BNYMI or through correspondents, nominees, agents or
delegates of BNYMI. The Bank of New York Mellon (International) Limited, was established on 9 August 1996. BNYMI have an
office in Luxembourg City.
Investment objective and policy
The Target Fund aims to achieve long-term capital growth from investments in a diversified portfolio of Asian securities of issuers
which are predominantly engaged in infrastructure activities.
At least 70% of the total assets of the Target Fund (without taking into account ancillary liquid assets) shall be invested in equity
and debt securities denominated in any convertible currency issued by Asian companies predominantly active in the infrastructure
sector. Asian companies shall mean companies listed in an Asian stock market and having their registered office in an Asian
country or established in other countries but carrying out their business activities predominantly in Asia or holding companies
investing predominantly in equity of companies having their registered office in an Asian country.
Up to 30% of the total assets of the Target Fund may be invested in aggregate in cash and cash equivalents, money market
instruments, equity and equity related instruments or debt securities (including convertible debt) issued by companies or other
entities not meeting the above requirement.
Invesco Hong Kong is an active manager combining bottom-up and top-down multi-factor analysis, although they have a strong
focus on bottom-up stock selection where they believe it can add value.
The investment universe mainly includes companies in the Asia Pacific ex-Japan region that are principally engaged in
infrastructure-related activities, including companies that are involved in providing the foundation of basic services, facilities and
institutions upon which the growth and development of a community depends. In addition, soft infrastructure that includes financial
support (e.g. project financing from investment banks) and maintenance support (e.g. management of communication networks)
also fall into this definition.
Broadly speaking, infrastructure can be classified as but is not limited to:
Economic Infrastructure to support the long-term growth of the economy. These assets have a long concession period and
high barrier to entry. Examples: roads, airports and ports.
Utilities to provide essential services for the community. Examples: gas/energy/electricity generation, distribution and
retailing, water distribution and waste treatment.
Social Infrastructure to provide public sector facilities for the society. This sector will be using the public private partnership
concept in order to encourage operation efficiency. Examples: train stations, hospitals, schools and stadiums.
Commercial infrastructure private sector initiatives to cater for technology advancement. Examples: satellites, cable
networks.
For the purpose of this Fund, the Manager will be investing in Class C of the Target Fund. As at LPD, only Accumulation Shares
are available for this share class. Investors holding Accumulation Shares will not receive any distributions. Instead, the income due
to them will be rolled up to enhance the value of the Accumulation Shares.
Benchmark/Reference index
There is currently no widely recognised Asian infrastructure specific index available in the market that is applicable for this Target
Fund. MSCI AC Asia Pacific ex Japan ND index is chosen as a reference index only.
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Investment restrictions
The Directors of the SICAV shall, based upon the principle of spreading of risks, have power to determine the investment policy for
the investments of the SICAV in respect of the Target Fund subject to the following restrictions.
(A) General restrictions
I. (1) The Target Fund may invest in:
(a) transferable securities and money market instruments admitted to or dealt in on a Regulated Market (as defined in
the prospectus governing the Target Fund);
(b) recently issued transferable securities and money market instruments, provided that the terms of issue include an
undertaking that application will be made for admission to official listing on a Regulated Market and such admission
is secured within one year of the issue;
Note: transferable securities shall mean shares and other securities equivalent to shares, bonds and other forms of
securitised debt, any other negotiable securities which carry the right to acquire any such transferable securities by
subscription or exchange, excluding techniques and instruments relating to transferable securities and money market
instruments.
(c) units of Undertaking for Collective Investment in Transferable Securities (UCITS) and/or other Undertaking for
Collective Investment (UCI), whether situated in an European Union (EU) Member State or not, provided that:
o such other UCIs have been authorized under laws which provide that they are subject to supervision considered
by the Luxembourg supervisory authority to be equivalent to that laid down in European Community law and that
cooperation between authorities is sufficiently ensured,
o the level of protection for unitholders in such other UCIs is equivalent to that provided for unitholders in a UCITS,
and in particular that the rules on assets segregation, borrowing, lending, and uncovered sales of transferable
securities and money market instruments are equivalent to the requirements of Directive 85/611/EEC,
o the business of such other UCIs is reported in half-yearly and annual reports to enable an assessment of the
assets and liabilities, income and operations over the reporting period,
o no more than 10% of the assets of the UCITS or of the other UCIs, whose acquisition is contemplated, can,
according to their constitutional documents, in aggregate be invested in units of other UCITS or other UCIs;
(d) deposits with credit institutions which are repayable on demand or have the right to be withdrawn, and maturing in no
more that 12 months, provided that the credit institution has its registered office in an EU Member State or if the
registered office of the credit institution is situated in a non-EU Member State provided that it is subject to prudential
rules considered by the Luxembourg supervisory authority as equivalent to those laid down in European Community
law;
(e) financial derivative instruments, including equivalent cash-settled instruments, dealt in on a Regulated Market and/or
financial derivative instruments dealt in over-the-counter (OTC derivatives), provided that:
o the underlying consists of instruments covered by this section (I) (1), financial indices, interest rates, foreign
exchange rates or currencies, in which the Target Fund may invest according to its investment objective;
o the financial derivative instruments do not expose the Target Fund to risks that it could not otherwise assume;
and
o the counterparties to OTC derivative transactions are credit institutions as defined at (d) above or other
institutions subject to prudential supervision and belonging to categories approved by the Luxembourg
supervisory authority;
o the OTC derivatives are subject to reliable and verifiable valuation on a daily basis and can be sold, liquidated or
closed by an offsetting transaction at any time at their fair value at the SICAVs initiative;
and/or
(f) money market instruments other than those dealt in on a Regulated Market, if the issue or the issuer of such
instruments is regulated for the purpose of protecting investors and savings, and provided that such instruments are:
o issued or guaranteed by a central, regional or local authority or by a central bank of an EU Member State, the
European Central Bank, the EU or the European Investment Bank, a non-EU Member State or, in case of a
Federal State, by one of the members making up the federation, or by a public international body to which one
or more EU Member States belong, or
o issued by an undertaking any securities of which are dealt in on Regulated Markets, or
o issued or guaranteed by an establishment subject to prudential supervision, in accordance with criteria defined
by European Community law, or by an establishment which is subject to and complies with prudential rules
considered by the Luxembourg supervisory authority to be at least as stringent as those laid down by European
Community law, or
80
o issued by other bodies belonging to the categories approved by the Luxembourg supervisory authority provided
that investments in such instruments are subject to investor protection equivalent to that laid down in the first,
the second or the third indent and provided that the issuer is a company whose capital and reserves amount to
at least EUR 10 million and which presents and publishes its annual accounts in accordance with Directive
78/660/EEC, is an entity which, within a group of companies which includes one or several listed companies, is
dedicated to the financing of the group or is an entity which is dedicated to the financing of securitisation
vehicles which benefit from a banking liquidity line.
(2) In addition, the SICAV may invest a maximum of 10% of the net assets of the Target Fund in transferable securities and
money market instruments other than those referred to under (1) above.
(3) The SICAV may acquire movable and immovable property which is essential for the direct pursuit of its business.
II. The Target Fund may hold ancillary liquid assets.
III. (a) (i) The Target Fund will invest no more than 10% of its net assets in transferable securities and money market
instruments issued by the same body (and in case of credit linked securities, both the issuer of the credit linked
securities and the issuer of the underlying securities).
(ii) The Target Fund may not invest more than 20% of its net assets in deposits made with the same body when the
body is a credit institution referred to in I. (d) above or the custodian of the Target Fund or 10% of its net assets in
other cases.
(iii) The risk exposure of the Target Fund to a counterparty in an OTC derivative transaction may not exceed 10% of its
net assets when the counterparty is a credit institution referred to in I. (d) above or 5% of its net assets in other
cases.
(b) Where the Target Fund holds investments in transferable securities and money market instruments of bodies which
individually exceed 5% of the net assets of the Target Fund, the total of all such investments must not account for more
than 40% of the total net assets of the Target Fund. This limitation does not apply to deposits and OTC derivative
transactions made with financial institutions subject to prudential supervision. Notwithstanding the individual limits laid
down in paragraph (a), the Target Fund may not combine:
investments in transferable securities or money market instruments issued by a single body,
deposits made with a single body, and/or
exposures arising from OTC derivative transactions undertaken with a single body
in excess of 20% of its net assets.
(c) The limit of 10% laid down in subparagraph (a) (i) above is increased to a maximum of 35% in respect of transferable
securities or money market instruments which are issued or guaranteed by an EU Member State, its local authorities, or
any other state or by public international bodies of which one or more EU Member States are members.
(d) The limit of 10% laid down in subparagraph (a) (i) is increased to 25% for certain bonds when they are issued by a credit
institution which has its registered office in a Member State of the EU and is subject by law, to special public supervision
designed to protect bondholders. In particular, sums deriving from the issue of these bonds must be invested in
conformity with the law in assets which, during the whole period of validity of the bonds, are capable of covering claims
attaching to the bonds and which, in case of bankruptcy of the issuer, would be used on a priority basis for the repayment
of principal and payment of the accrued interest. If the Target Fund invests more than 5% of its net assets in the bonds
referred to in this sub-paragraph and issued by one issuer, the total value of such investments may not exceed 80% of the
net assets of the Target Fund.
Notwithstanding the above provisions, the Target Fund is authorized to invest up to 100% of its net assets, in
accordance with the principle of risk spreading, in transferable securities and money market instruments issued
or guaranteed by a Member State of the EU, by its local authorities or agencies, or by another Member State of
the Organisation for Economic Cooperation and Development (OECD) or by public international bodies of
which one or more Member States of the EU are members, provided that the Target Fund must hold securities
from at least six different issues and securities from one issue do not account for more than 30% of the net
assets of the Target Fund.
(e) The transferable securities and money market instruments referred to in paragraphs (c) and (d) shall not be included in
the calculation of the limit of 40% in paragraph (b).
The limits set out in sub-paragraphs (a), (b), (c) and (d) may not be aggregated and, accordingly, investments in
transferable securities or money market instruments issued by the same body, in deposits or in OTC derivative
transactions effected with the same body may not, in any event, exceed a total of 35% of the Target Funds net assets.
Companies which are part of the same group for the purposes of the establishment of consolidated accounts, as defined
in accordance with Directive 83/349/EEC or in accordance with recognised international accounting rules, are regarded as
a single body for the purpose of calculating the limits contained in this paragraph (III).
However a limit of 20% of the net assets of the Target Fund may be applied to investments in transferable securities and
money market instruments within the same group.
IV. (a) Without prejudice to the limits laid down in paragraph V, the limits provided in paragraph III are raised to a maximum of
20% for investments in shares and/or bonds issued by the same body if the aim of the investment policy of the Target
Fund is to replicate the composition of a certain stock or bond index which is sufficiently diversified, represents an
adequate benchmark for the market to which is refers, is published in an appropriate manner and disclosed in the Target
Funds investment policy.
81
(b) The limits laid down in paragraph (a) is raised to 35% where this proves to be justified by exceptional market conditions,
in particular on Regulated Markets where certain transferable securities or money market instruments are highly
dominant. The investment up to this limit is only permitted for a single issuer.
V. The SICAV may not acquire shares carrying voting rights which should enable it to exercise significant influence over the
management of a body. The SICAV may acquire no more than:
10% of the non-voting shares of the same issuer;
10% of the debt securities of the same issuer;
10% of the money market instruments of the same issuer.
These limits under second and third indents may be disregarded at the time of acquisition, if at that time the gross amount of
debt securities or of the money market instruments or the net amount of the instruments in issue cannot be calculated.
The provisions of paragraph V. shall not be applicable to transferable securities and money market instruments issued or
guaranteed by a Member State of the EU or its local authorities or by any other state, or issued by public international bodies
of which one or more Member States of the EU are members.
These provisions are also waived as regards shares held by the Target Fund in the capital of a company incorporated in a
non-Member State of the EU which invests its assets mainly in the securities of bodies having their registered office in that
state, where under the legislation of that state, such a holding represents the only way in which the Target Fund can invest in
the securities of bodies in that state provided that the investment policy of the company from the non-Member State of the EU
complies with the limits laid down in paragraph III., V. and VI. (a), (b), (c) and (d).
VI. (a) The Target Fund may acquire units of the UCITS and/or other UCIs referred to in paragraph I. (1) (c), provided that no
more than 10% of its net assets be invested, in aggregate, in the units of UCITS or other UCI or in one single such UCITS
or other UCI.
(b) The underlying investments held by the UCITS or other UCIs in which the Target Fund invests do not have to be
considered for the purpose of the investment restrictions set forth under III. above.
(c) When the SICAV invests in the units of UCITS and/or other UCIs that are managed, directly or by delegation, by the
management company or by any other company to which the management company is linked by common management
or control, or by a substantial direct or indirect holding (i.e. more than 10% of the capital or voting rights), the management
company or other company cannot charge subscription or redemption fees on account of its investment in the units of
such UCITS and/or other UCIs.
In respect of the Target Funds investments in other UCITS and other UCIs referred to in the preceding paragraph, the
total management fees (excluding any performance fee, if any) that may be charged to the Target Fund and each of the
other UCITS or other UCIs concerned shall not be higher than the maximum annual management fee specified for the
Target Fund. In such circumstances, the SICAV will indicate in its annual report the total management fees charged both
to the Target Fund and to the other UCITS and UCIs in which the Target Fund has invested during the relevant period.
(d) The SICAV may acquire no more than 25% of the units of the same UCITS or other UCI. This limit may be disregarded at
the time of acquisition if at that time the gross amount of the units in issue cannot be calculated. In case of a UCITS or
other UCI with multiple sub-fund(s), this restriction is applicable by reference to all units issued by the UCITS or other UCI
concerned, all sub-fund(s) combined.
VII. (a) The Target Fund may not borrow for the account of the Target Fund amounts in excess of 10% of the net assets of the
Target Fund, any such borrowings to be effected only on a temporary basis, provided that the SICAV may acquire foreign
currencies by means of back-to-back loans.
(b) The SICAV may not grant loans to or act as guarantor on behalf of third parties. This restriction shall not prevent the
SICAV from acquiring transferable securities, money market instruments or other financial instruments referred to in I. (1)
(c), (e) and (f) which are not fully paid.
(c) The SICAV may not carry out uncovered sales of transferable securities, money market instruments, units of UCITS or
other UCIs or other financial instruments.
(d) The Target Fund may not acquire either precious metals or certificates representing them.
VIII. (a) The Target Fund need not comply with the limits laid down in the investment restrictions when exercising subscription
rights attaching to transferable securities or money market instruments which form part of its assets.
(b) If the limits referred to in paragraph (a) are exceeded for reasons beyond the control of the SICAV or as a result of the
exercise of subscription rights, it must adopt as a priority objective for its sales transactions the remedying of that
situation, taking due account of the interest of its shareholders.
(c) To the extent that an issuer is a legal entity with multiple sub-funds where the assets of the sub-fund are exclusively
reserved to the investors in such sub-fund and to those creditors whose claim has arisen in connection with the creation,
operation or liquidation of that sub-fund, each sub-fund is to be considered as a separate issuer for the purpose of the
application of the risk spreading rules set out in paragraphs III. IV and VI.
The SICAV need not comply with the investment limit percentages when exercising subscription rights attaching to securities
which form part of its assets. If, as a result of the exercise of subscription rights or for reasons beyond the control of the
SICAV, such as subsequent fluctuation in value of the Target Funds assets, the above investment limit percentages are
infringed, priority will be given, when sales of securities are made, to correcting the situation, having due regard to the interests
of shareholders.
82
(B) Financial derivative instruments restrictions:
Financial derivative instruments may be used for investment, hedging and efficient portfolio management purposes. Securities
lending and repurchase and reverse repurchase agreements referred to under (VII) below may be used for efficient portfolio
management purposes.
The global exposure of the Target Fund relating to financial derivative instruments may not exceed the net assets of the Target
Fund.
The exposure is calculated taking into account the current value of the underlying assets, the counterparty risk, foreseeable market
movements and the time available to liquidate the positions. This shall also apply to the next two subparagraphs.
If the SICAV invests in financial derivative instruments, the exposure to the underlying assets may not exceed in aggregate the
investment limits laid down in paragraph (A) III. above. When the SICAV invests in index-based financial derivative instruments,
these investments do not have to be combined to the limits laid down in paragraph (A) III. above.
When a transferable security or money market instrument embeds a financial derivative instrument, the latter must be taken into
account when complying with the requirements set out in the preceding subparagraph.
The SICAV on behalf of the Target Fund may not:
(I) deal in options on transferable securities and money market instruments unless the following limitations are observed:
put options may be written provided adequate liquid assets are set aside by the Target Fund until the expiry of said put
options to cover the aggregate exercise price of the transferable securities and money market instruments to be
acquired by the Target Fund pursuant thereto;
call options will only be written if such writing does not result in a short position; in such event the Target Fund will
maintain in its portfolio the underlying transferable securities and money market instruments or other adequate
instruments to cover the position until the expiry date of the relevant call options granted on behalf of the Target Fund,
except that the Target Fund may dispose of said transferable securities and money market instruments or instruments
in declining markets in the following circumstances:
(a) the market must be sufficiently liquid to enable the SICAV to cover the short position of the Target Fund at any time;
(b) the aggregate of the exercise prices payable under such uncovered options shall not exceed 15% of the net asset
value of the Target Fund;
No option will be purchased or sold unless it is quoted on an exchange or dealt in on a regulated market and provided,
immediately after its acquisition, the aggregate of the acquisition prices of all options (in terms of premiums paid) held by the
Target Fund does not exceed 15% of its net assets;
(II) acquire warrants if as a result thereof the aggregate of warrants and options on transferable securities and money market
instruments held by the SICAV on behalf of the Target Fund exceeds 15% of the net assets of the Target Fund;
(III) deal in currency contracts, except that the SICAV may, for the purpose of hedging currency risks, have outstanding
commitments in forward currency contracts or currency futures, or acquire currency options, for amounts not exceeding,
respectively, the aggregate value of transferable securities and money market instruments and other assets held by the
Target Fund denominated in the currency to be hedged, provided however that the Target Fund may also purchase the
currency concerned through a cross transaction (entered into through the same counterparty) or enter into currency swaps,
should the cost thereof be more advantageous to it. Contracts on currencies must either be quoted on an exchange or dealt
in on a regulated market, except that the SICAV may enter into forward currency contracts or swap arrangements with
highly rated financial institutions;
(IV) deal in index options except that:
(a) for the purpose of hedging the risk of its transferable securities and money market instruments portfolio, the SICAV
may:
(i) sell call options on stock indices, in which event the value of the underlying transferable securities and money
market instruments included in the relevant stock index option shall not exceed, together with outstanding
commitments in financial futures contracts entered into for the same purpose on behalf of the Target Fund, the
aggregate value of the portion of the transferable securities and money market instruments portfolio of the
Target Fund to be hedged, and/or
(ii) acquire put options on stock indices, in which event the value of the underlying transferable securities and
money market instruments included in the relevant put options shall not exceed, together with the options and
futures referred to in (i) above, the amount required to protect the portion of the transferable securities and
money market instruments portfolio of the Target Fund concerned to be hedged against a potential depreciation
of the market; and
(b) for the purpose of the efficient management of its transferable securities and money market instruments portfolio, the
SICAV may acquire call options on stock indices, mainly in order to facilitate changes in the allocation of the Target
Funds assets between markets or in anticipation of, or in, a significant market sector advance, provided the value of
the underlying transferable securities and money market instruments included in the relevant stock index options is
covered by cash, short-dated debt securities and instruments owned by the Target Fund or transferable securities
and money market instruments to be disposed of by the Target Fund at predetermined prices;
83
provided however that all such financial futures must either be listed on an exchange or dealt in on a regulated market and
that the aggregate acquisition cost (in terms of premiums paid) of options on transferable securities and money market
instruments and options on indices and other financial instruments purchased by the Target Fund for purposes other than
hedging shall not exceed 15% of its net assets;
(V) deal in stock index futures except that:
(a) for the purpose of hedging the risk of the fluctuation of the value of the transferable securities and money market
instruments portfolio of the Target Fund, the SICAV may have outstanding commitments in respect of index futures
sales contracts not exceeding the corresponding risk of fluctuation of the value of the corresponding portion of the
Target Funds portfolio;
(b) for the purpose of efficient portfolio management, the SICAV may enter into index futures purchase contracts, mainly
in order to facilitate changes in the allocation of the Target Funds assets between markets or in anticipation of, or in,
a significant market sector advance, subject to the availability of sufficient uncommitted cash reserves, short-dated
debt securities or instruments owned by the Target Fund, or transferable securities and money market instruments to
be disposed of by the Target Fund at a predetermined value existing to match the underlying exposure of both such
futures positions and the value of the underlying transferable securities and money market instruments included in
call stock index options acquired for the same purpose;
provided further that all such index futures must either be listed on an exchange or dealt in on a regulated market;
(VI) enter into interest rate futures contracts, deal in options on interest rates, or enter into interest rate swap transactions,
except that::
(a) for the purpose of hedging the risk of the portfolio of the Target Fund, the SICAV may sell interest rate futures, or
write call options or purchase put options on interest rates, or enter into interest rate swaps, for amounts not
exceeding the corresponding risk of fluctuation of the corresponding portion of the Target Funds portfolio. Such
contracts or options must be denominated in the currencies in which the assets of the Target Fund are denominated,
or in currencies which are likely to fluctuate in a similar manner, and they must be listed on an exchange or dealt in
on a regulated market, provided however that interest rate swap transactions may be entered into by private
agreement with highly rated financial institutions;
(b) for the purpose of efficient portfolio management, the SICAV may enter into interest rate futures purchase contracts,
or acquire call options on interest rate futures, mainly in order to facilitate changes in the allocation of the assets of
the Target Fund between shorter or longer term markets in anticipation of, or in, a significant market sector advance,
or to give a longer term exposure to short-term investments, subject to the availability of sufficient uncommitted cash
reserves, short-dated debt securities or instruments, or transferable securities and money market instruments to be
disposed of at a predetermined value existing to match the underlying exposure of both such futures positions and
the value of the underlying transferable securities and money market instruments included in call options on interest
rate futures acquired for the same purpose and for the Target Fund and that the aggregate acquisition cost (in terms
of premiums paid) of options on transferable securities and money market instruments and options on interest rate
futures and other financial instruments purchased by the Target Fund for purposes other than hedging shall not
exceed 15% of its net assets;
(VII) lend portfolio investments or enter into repurchase/reverse repurchase transactions other than to the extent allowed by, and
within the limits set forth in, the 2002 Law, as well as present or future related Luxembourg laws, implementing regulations,
circulars or CSSF positions and in particular the provisions of (i) article 11 of the Grand-Ducal regulation of 8 February 2008
relating to certain definitions of the 2002 Law and of (ii) CSSF Circular 08/356 relating to the rules applicable to undertakings
for collective investments when they use certain techniques and instruments relating to transferable securities and money
market instruments (as these may be amended or replaced from time to time). The SICAV, for the Target Fund, may, for the
purpose of generating additional capital or income or for reducing costs or risks (A) enter, either as purchaser or seller, into
optional as well as non optional repurchase and reverse repurchase transactions and (B) engage in securities lending
transactions. The SICAV may, on behalf of the Target Fund, enter into such transactions for up to 100% of the relevant
Funds net assets.
As the case may be, cash collateral received by the SICAV for the Target Fund in relation to any of these transactions may
be reinvested in a manner consistent with the investment objectives of the Target Fund in (a) shares or units issued by
money market undertakings for collective investment calculating a daily net asset value and being assigned a rating of AAA
or its equivalent, (b) short term bank deposits, (c) money market instruments as defined in the above referred Grand-Ducal
regulation, (d) short-term bonds issued or guaranteed by an EU member state, Switzerland, Canada, Japan or the United
States or by their local authorities or by supranational institutions and undertakings with EU, regional or world-wide scope,
(e) bonds issued or guaranteed by first class issuers offering an adequate liquidity, and (f) reverse repurchase agreement
transactions according to the provisions described under section I.C.a) of the above referred CSSF Circular. Such
reinvestment will be taken into account for the calculation of the Target Funds global exposure, in particular if it creates a
leverage effect.
Should the SICAV on behalf of the Target Fund engage in securities lending, all incremental income accruing from securities
lent will be shared between the parties as agreed to from time to time and disclosed in the SICAVs report and accounts
each year. The SICAV will seek to appoint counterparties who have a minimum credit rating of at least A2 by Standard &
Poors Rating Agency and P2 by Moodys Rating Agency or be of a similar credit status.
To the extent that any such stock lending transactions are with any appointed investment managers or investment adviser of
the SICAV or any Connected Person (as defined in the prospectus governing the Target Fund) of either of them, such
transactions will be at arms length and will be executed as if effected in normal commercial terms. In particular, cash
collateral invested in money market funds in this manner may be subject to a pro rata portion of such money market funds
84
expenses, including management fees. Investors should note that such expenses would be in addition to the management
fees charged by the SICAV.
As security for any securities lending activities, the Target Fund will obtain collateral in the manner set out below, the market
value of which will at all times be at least 100% of the market value of the securities lent.
(A) Collateral must be obtained for each repurchase/reverse repurchase contract or securities lending transaction.
Collateral must take the form of:
(i) liquid assets, liquid assets include not only cash and short term bank certificates, but also money market
instruments such as defined within Directive 2007/16/EC of 19 March 2007 implementing Council Directive
85/611/EEC on the coordination of laws, regulations and administrative provision relating to certain UCITS as
regards the clarification of certain definitions. A letter of credit or a guarantee at first-demand given by a first
class credit institution not affiliated to the counterparty is considered as equivalent to liquid assets;
(ii) bonds issued or guaranteed by a Member State of the OECD or by their local public authorities or by
supranational institutions and undertakings with EU, regional or worldwide scope;
(iii) shares or units issued by money market UCIs calculating a daily net asset value and being assigned a rating of
AAA or its equivalent;
(iv) shares or units issued by UCITS investing mainly in bonds/shares mentioned in (v) and (vi) below;
(v) bonds issued or guaranteed by first class issuers offering an adequate liquidity, or
(vi) shares admitted to or dealt in on a regulated market of a Member State of the European Union or on a stock
exchange of a Member State of the OECD, on the condition that these shares are included in a main index.
(B) Until expiry of the repurchase/reverse repurchase contract or lending arrangement, collateral obtained under such
contracts or arrangements must::
(i) be marked to market daily;
(ii) be equal or exceed in value at all times the value of the amount invested or securities on loan;
(iii) be transferred into the name of the SICAV, the Custodian of the SICAV or an agent of the Custodian;
(iv) be immediately available to the Target Fund without recourse to the counterparty in the event of default by the
counterparty;
The requirements at (iii) above is not applicable in the event that the Target Fund uses collateral management
services of a recognised international clearing institution and relevant institutions which are generally recognised as
specialists in this type of transaction.
(VIII) except with the written consent of the Directors of the SICAV, purchase, sell, borrow or lend portfolio investments from or to,
or otherwise execute transactions with, any appointed investment manager or investment adviser of the SICAV, or any
Connected Person (as defined in the prospectus governing the Target Fund) of either of them. Such transactions (if any) will
be disclosed in the SICAVs annual report and will be executed at arms length and executed as if effected on normal
commercial terms.
Use of Credit Default Swaps and applicable restrictions
The SICAV may use credit default swaps.
A credit default swap is a bilateral financial contract in which one counterpart (the protection buyer) pays a periodic fee in return for
a contingent payment by the protection seller following a credit event of a reference issuer. The protection buyer must either sell
particular obligations issued by the reference issuer at their par value (or some other designated reference or strike price) when a
credit event occurs or receive a cash settlement based on the difference between the market price and such reference or strike
price. A credit event is commonly defined as bankruptcy, insolvency, receivership, material adverse restructuring of debt, or failure
to meet payment obligations when due. The International Swaps and Derivatives Association (ISDA) has produced standardized
documentation for these transactions under the umbrella of its ISDA Master Agreement.
The SICAV may use credit default swaps in order to hedge the specific credit risk of some of the issuers in its portfolios by buying
protection.
In addition, the SICAV may, provided it is in the exclusive interests of its shareholders, buy protection under credit default swaps
without holding the underlying assets provided that the aggregate premiums paid together with the present value of the aggregate
premiums still payable in connection with credit default swaps previously purchased and the aggregate premiums paid relating to
the purchase of options on transferable securities, money market instruments or on financial instruments for a purpose other than
hedging, may not, at any time, exceed 15% of the net assets of the Target Fund.
Provided it is in the exclusive interests of its shareholders, the SICAV may also sell protection under credit default swaps in order to
acquire a specific credit exposure. In addition, the aggregate commitments in connection with such credit default swaps sold
together with the amount of the commitments relating to the purchase and sale of futures and option contracts on any kind of
financial instruments and the commitments relating to the sale of call and put options on transferable securities and money market
instruments may not, at any time, exceed the value of the net assets of the Target Fund.
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The SICAV will only enter into credit default swap transactions with highly rated financial institutions specialized in this type of
transaction and only in accordance with the standard terms laid down by the ISDA. In addition, the use of credit default swaps must
comply with the investment objectives and policies and risk profile of the Target Fund.
The total commitments arising from the use of credit default swaps together with the total commitments arising from the use of other
derivative instruments may not, at any time, exceed the value of the net assets of the Target Fund.
The SICAV will ensure that, at any time, it has the necessary assets in order to pay redemption proceeds resulting from redemption
requests and also meet its obligations resulting from credit default swaps and other techniques and instruments.
Additional Restrictions:
(1) The SICAV may enter into OTC option transactions with highly rated financial institutions participating in these types of
transactions if such transactions are more advantageous to the Target Fund or if quoted options having the required features
are not available;
(2) The SICAV may only place deposits of cash (which, for the avoidance of doubt, shall include monies deposited on call) with a
bank whose assets less contra accounts exceed one hundred million U.S. Dollars (US$100,000,000), or with a bank which is a
wholly owned subsidiary of a bank whose balance sheet total is not less than the said amount;
(3) The cash assets of the Target Fund may not at any time be deposited with Invesco Management S.A., the global distributors of
the Target Fund, Invesco Hong Kong or any connected entity except such entities who have the status of a licensed bank in
their country of incorporation;
(4) In relation to the acquisition of money market instruments, no money market instrument may be acquired unless it is issued by
a government or state which is a member of the OECD or a bank with which cash of the SICAV may be deposited pursuant to
paragraph (2) hereof;
(5) During such time as the SICAV is authorized as a mutual fund corporation by the Securities and Futures Commission in Hong
Kong (SFC), the SICAV shall not:
(a) invest more than 10% of the total value of the net assets of the Target Fund in partly paid or nil paid securities, any such
investment to be approved by the custodian if the security cannot be paid up at the option of the SICAV within one year of
its purchase;
(b) purchase or otherwise acquire any investment in which the liability of the holder is unlimited;
(c) make deposits with any bank or financial institution if the total value of money market instruments issued by or pursuant to
the guarantee of such bank or institution held by the Target Fund, together with such cash deposits with such bank or
institution, exceeds 25% of the value of the net assets of the Target Fund [or 10% of such value where the bank or
financial institution is a Connected Person (as defined in the prospectus governing the Target Fund)];
(d) in the case of the Reserve Funds, which are regarded by the SFC as Money Market Funds permit the average portfolio
maturity to exceed ninety (90) days.
(6) Although the SICAV is now authorized by the Luxembourg supervisory authority as a UCITS under the 2002 Law and the
prospectus governing the Target Fund has been updated to incorporate new investment restrictions provided thereunder, for
so long as the SICAV and the Target Fund remain authorized by the SFC in Hong Kong and unless otherwise approved by the
SFC, Invesco Management S.A. and Invesco Hong Kong confirms its intention to operate the Target Fund authorized in Hong
Kong in accordance with the 2002 Law, except that the Target Fund may only enter into financial derivative. Instruments for
efficient portfolio management or hedging purpose, and to comply with any other requirements or conditions imposed by the
SFC from time to time in respect of the Target Fund unless otherwise agreed with the SFC. Unless otherwise agreed with the
SFC, not less than 1 months prior notice will be given to existing Hong Kong investors in the relevant SFC authorised Fund of
any change to the aforementioned policy and the relevant offering document will be updated accordingly.
Risk management procedures
The SICAV will employ a risk-management process which enables it to monitor and measure at any time the risk of the positions
and their contribution to the overall risk profile of each fund. The SICAV will employ, if applicable, a process for accurate and
independent assessment of the value of any OTC derivative instruments.
More specifically in relation to the Target Fund calculating its global exposure to financial derivatives instruments using a Value-at-
Risk (VaR) methodology, a risk management team at Invesco UK Limited, separate from the appointed portfolio managers, is
undertaking risk management controls on behalf of Invesco Management S.A. The VaR calculation is based on the historical risk
factor data of the most recent 250 days over a holding period of 20 days at 99% confidence level. Daily back-testing is carried out
to access the robustness of the VaR model. Furthermore, a monthly stress-testing is also run as a necessary complement to the
use of VaR models. This helps to identify and highlight potential risks of the portfolios.
For Funds not using a VaR methodology to monitor market risk, the SICAV will use the commitment approach to monitor such
risk. The overall exposure of all financial derivative instruments pursuant to this approach cannot exceed 100% of the NAV of the
Fund.
A daily counterparty risk computation is run for any OTC derivative positions. The counterparty risk consists of the current market
value of the OTC derivative and its potential exposure which depends on the notional amount multiplied by a factor depending on
the maturity of the instrument and the type of risk (credit, interest rate, equity) and the type of counterparty as defined by the
Commission de Surveillance de Secteur Financier. Issuer concentration risk and coverage rule computations are also run by the
SICAV.
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The following limits will be applied:
Risk exposure to a counterparty to an OTC derivative is limited to a maximum of 5% of net asset value of the Target Fund.
This limit might be raised to 10% of net asset value of the Target Fund if the counterparty is a credit institution.
The overall combined exposure to a single issuer/ counterparty is limited to a maximum of 20% of net asset value of the Target
Fund under the conditions detailed in paragraph A. III hereinabove. This limit will not only include OTC derivative positions but
also the following instruments:
a. Investments in transferable securities or money market instruments;
b. Deposits.
Primary responsibility for the monitoring and control of the risk management reports produced by the risk management team will be
with Invesco Management S.A. The Board of Directors of the SICAV will receive a quarterly report relating to risk management.
87
The CIMB-Principal ASEAN Equity Fund aims to provide investors with capital growth over the medium to long term through
investments into ASEAN assets inclusive of equities, ETFs and derivatives.
Benchmark
The benchmark is FTSE/ASEAN 40 Index.

Information on the benchmark can be obtained from http://www.ftse.com/Indices/FTSE_ASEAN_Index_Series/index.jsp
The Fund will invest between 65% to 98% of the Funds NAV in the ASEAN equity markets (both inclusive). The Fund may also
invest up to 30% of its NAV in the CIMB FTSE/ASEAN 40 or other ETFs that invest predominantly in the ASEAN countries.
The manager of the CIMB FTSE/ASEAN 40 is CIMB-Principal Asset Management (S) Pte. Ltd., a wholly owned subsidiary of
CIMB-Principal Asset Management Berhad. The CIMB FTSE/ASEAN 40 is an ETF with an objective of providing investment results
that, before expenses, closely correspond to the performance of the FTSE/ASEAN 40 Index. The FTSE/ASEAN 40 Index is a
subset of the FTSE/ASEAN Index and is a tradable index consisting of the 40 largest companies by full market value that qualify for
inclusion into the FTSE/ASEAN Index. As at LPD, the FTSE/ASEAN Index comprises of 147 stocks from Malaysia, Singapore,
Thailand, Indonesia and the Philippines which spread across sectors/industries covering oil and gas, basic materials, industrials,
consumer goods, consumer services, telecommunications, utilities, technology and financials industry group. The FTSE/ASEAN
Index is a subset of the FTSE All-World Index.
The CIMB FTSE/ASEAN 40 or other ETFs that invest predominantly in the ASEAN countries are used by the Fund for the following
purposes:
a) to act as an economical and efficient instrument to gain access into the ASEAN markets;
b) to act as the foundation to meet the Funds objective.
allocation decision is made after a review of macroeconomic trends in Malaysia and other global economies. In particular, the
Manager analyzes the direction of GDP growth, interest rates, inflation, currencies and government policies. The Manager will then
assess their impact on corporate earnings and determine if there are any predictable trends. These trends form the basis for sector
selection. Stock selection is based on the growth style of equity investing. As such, the criteria for stock selection would include
improving fundamentals and growth at reasonable valuations. Stock valuation fundamentals considered are earnings per share
growth rate, return on equity, price earnings ratio and net tangible assets multiples.
proportion of higher risk assets, such as equities and increase its asset allocation to lower risk assets, such as defensive stocks
and liquid assets, to safeguard the investment portfolio of the Fund provided that such investments are within the investment
88
The investment objective is to seek capital growth by investing primarily in equities and equity related instruments in the Asia ex-
Japan (excluding Malaysia).
Benchmark
The benchmark of the Fund is the MSCI All Country Asia ex Japan Index.
Information on the benchmark can be obtained from http://www.mscibarra.com/products/indices.
The Fund aims to achieve capital growth primarily in equity securities of entities which are incorporated, or have their area of
primary activity in the Asia ex-Japan (excluding Malaysia). The Fund may also invest in equity securities, which are listed on
recognised exchanges in the capital markets of the Asia ex-Japan. Under normal market conditions, the Fund will invest primarily in
common stocks. However, since the investment objective is more likely to be achieved through an investment policy that is flexible
and adaptable, the Fund may seek investment opportunities in other types of transferable securities, including fixed income
securities. The Fund may also invest in instruments issued by companies incorporated in the Asia ex-Japan but listed or traded on
exchanges outside the Asia ex-Japan.
The Asia ex-Japan includes but not limited to the following countries: Hong Kong, India, Indonesia, Korea, the Peoples Republic of
China, Pakistan, the Philippines, Singapore, Sri Lanka, Taiwan and Thailand. The investments of the Fund in the foreign markets
are in accordance with the SCs Guidelines on Unit Trust Funds. They are further subject to the limits approved by Bank Negara
Malaysia.

Between 70% to 99.5% (both inclusive) of equity securities in the Asia ex-Japan (excluding Malaysia) and other permissible
investments; and
at least 0.5% in liquid assets.
The asset allocation will be reviewed periodically depending on the regions economic and stock market outlook.
The Manager has appointed CIMB-Principal Asset Management (S) Pte Ltd a company incorporated in Singapore, as the Sub-
Manager of the CIMB-Principal Asian Equity Fund with the approval of the SC. CIMB-Principal (S) will be responsible for investing
and managing the CIMB-Principal Asian Equity Fund in accordance with the investment objective and within the investment
restrictions. All costs of this appointment will be borne by the Manager to ensure no additional fee is levied on the Unit holders of
this Fund. CIMB-Principal (S) will actively decide on the asset allocation within the Asia ex Japan (excluding Malaysia), based on
the outlook of the different geographical markets as well as domestic interest rate trends. The Sub-Managers investment policy
and strategy will be based on its global outlook on the economy and financial markets generally, as well as relative market
valuation.
CIMB-Principal (S) reserves the right to change the asset allocation and/or the investment strategy (including, but not limited to the
investment in foreign mutual funds), provided that the changes are at all times in accordance with the objectives of the Fund.
As part of its risk management strategy, CIMB-Principal (S) may vary the Funds asset allocation in line with its outlook. In addition,
the Fund is constructed and managed within pre-determined guidelines. CIMB-Principal (S) employs an active asset allocation
strategy depending upon the equity market expectations. Where appropriate, the Sub-Manager will also employ an active trading
strategy in managing the Fund.
In response to adverse conditions and as part of its risk management strategy, CIMB-Principal (S) may from time to time reduce its
of the Fund. When deemed necessary, the Sub-Manager may also utilize derivative instruments, subject to the SC Guidelines for
purpose such as hedging.
89
The CIMB-Principal Climate Change Equity Fund aims to achieve capital appreciation primarily through investment in a portfolio
of global equities securities related to climate change.
Benchmark
The Fund adheres to the reference index of the Target Fund. The Target Fund does not have any specific benchmark and uses the
MSCI World Index as a reference index.
Information on the index can be obtained from http://www.mscibarra.com/products/indices
The Fund is a Feeder Fund that invests at least 95% of the Funds NAV in the DWS Invest Climate Change (a Luxembourg-
domiciled fund) which invests primarily in a portfolio of global equities securities that are primarily active in business areas suited to
restricting or reducing climate change and its effects: CO2-efficient or energy-efficient technologies, renewable or alternative
energies, climate protection, disaster prevention or disaster management and energy-efficient mobility. Information on DWS Invest
Climate Change is detailed below.
at least 95% of the Funds NAV will be invested in the DWS Invest Climate Change
If, in the opinion of the Manager, the DWS Invest Climate Change no longer meets the Funds investment objective, and / or when
acting in the best interests of Unit holders, CIMB-Principal may replace the DWS Invest Climate Change with another collective
investment scheme that is consistent with the objective of this Fund, subject to the approval of the Unit holders. The switch to
another collective investment scheme may be performed on a staggered basis to facilitate a smooth transition. This is applicable
should the DWS Invest Climate Change impose any conditions in relation to redemption of units or if the manager of the
newly identified Target Fund exercises its discretion to apply an Anti Dilution Levy* in relation to applications for units. Thus, the
time frame required to perform the transition will depend on such conditions, if any, imposed by the DWS Invest Climate Change as
well as any conditions associated with an Anti Dilution Levy that may be charged at the newly indentified Target Fund level. Hence
during the transition period, the Funds investment may differ from the stipulated investment strategies.
costs.
90
About DWS Invest Climate Change
DWS Invest (the "Company") is an investment company with variable capital incorporated under the laws of Luxembourg on the
basis of the Law on Undertakings for Collective Investment and the Law on Trading Companies of August 10, 1915 as a socit
dinvestissement capital variable (SICAV). The Company was established on the initiative of DWS Investment S.A., a
management company under Luxembourg law, which, among other functions, acts as the main distributor for the Company.
The Company operates separate funds, each of which is represented by one or more classes of shares. The funds are
distinguished by their specific investment policy or any other specific features. The Company constitutes a single legal entity, but
the assets of each fund shall be invested for the exclusive benefit of the corresponding fund and the assets of a specific fund are
solely accountable for the liabilities, commitments and obligations of the fund. The DWS Invest Climate Change (the Target Fund)
is a fund under the Company which was launched in 14 May 2007. DWS Invest Climate Change is organised under Part 1 of the
Luxembourg law of 20 December 2002 and conforms to the requirements of the European directives on Undertakings for Collective
Investment in Transferable Securities (UCITS).
DWS Investment S.A. is a Luxembourg entity appointed as the management company for DWS Invest Fund family range, which
provides the overall management of the Company including investment management, administration and distribution of the funds.
DWS Investment S.A. is regulated by the Commission de Surveillance du Secteur Financier. DWS is the largest mutual fund
company in Germany (around 25% market share) including its most important subsidiaries DWS Investment S.A. in Luxembourg,
Deutsche Vermgensbildungsgesellschaft mbH (DVG) in Frankfurt and the affiliate DWS Investments. Together with DWS
Scudder in the US and the recent market entry in Asia under the DWS brand, DWS has the clear aspiration to leverage their
success and brand globally.
DWS Investment S.A. has entered into an investment management agreement with DWS Finanz-Service to appoint it as the
investment manager of DWS Invest Climate Change. Until December 14, 2009 the investment manager of the fund is DWS Finanz-
Service GmbH. Effective as of December 15, 2009 the investment manager of the fund will be replaced by DWS Investment GmbH.
These functions include the day-to-day management of the assets of the Target Fund on a discretionary basis and purchase and
sale of securities, and otherwise manage the portfolio of the Target Fund on a day-to-day basis subject to the supervision and
monitoring of DWS Investment S.A. and the overall control and ultimate responsibility of the board of directors of DWS Invest. DWS
Finanz-Service is regulated by the Bundesanstalt fuer Finanzdienstleistungsaufsicht (BaFin) and is a wholly-owned subsidiary of
DWS Investment GmbH. DWS Investment GmbH was founded in 1956 by Deutsche Bank and other German private banks and is
owned today by DWS Holding & Service GmbH. DWS Holding & Service GmbH belongs 100% to DB Financial Services Holding
GmbH, which is a wholly owned subsidiary of Deutsche Bank, Frankfurt.
DWS Investment S.A. and DWS Finanz-Service GmbH are member companies of Deutsche Bank Group.
The Custodian of DWS Invest Climate Change is State Street Bank Luxembourg S.A. It is a public limited company under
Luxembourg law and conducts banking activities.
The objective of the investment policy of DWS Invest Climate Change is to achieve as high an appreciation as possible of capital
invested in euros.
Benchmark/ Reference Index
MSCI World Index is chosen as a reference index only.
At least 70% of the Target Funds assets (after deduction of liquid assets) are invested in equities, other equity securities and
uncertificated equity instruments of foreign and domestic companies that are primarily active in business areas suited to restricting
or reducing climate change and its effects: CO2-efficient or energy-efficient technologies, renewable or alternative energies, climate
protection, disaster prevention or disaster management and energy-efficient mobility.
Within the area of clean technologies, the focus of investment is on equities of companies whose current or future products
contribute towards the reduction of the greenhouse effect and CO2 emissions. The focus of investment also includes equities
of companies with CO2 efficient operations (e.g., by way of recycling, efficient processes or protecting resources).
In the renewable and alternative energies sector, the focus of investment is on companies with operations in the areas of solar
energy, bioenergy, wind energy, fuel cells, hydropower, geothermal energy and geoenergy.
Within the area of disaster prevention, the focus of investment is on companies that provide products and/or services for
monitoring and disaster prevention in coastal areas and other areas that are vulnerable to disasters. Within the area of disaster
management, the focus of investment is on companies that provide emergency relief services or support rebuilding efforts.
The area of energy-efficient mobility includes companies whose products help to make the flow of goods and people more
efficient. Possible measures include influencing the means of transport, reducing fuel consumption and optimizing transport
streams.
Up to 30% of the Target Funds assets (after deduction of liquid assets) may be invested in equities, other equity securities and
uncertificated equity instruments that do not fulfil the requirements of the preceding paragraph, as well as in all other permissible
assets specified below.
Investments
a) The Target Fund may invest in securities and money market instruments that are listed or traded on a regulated market.
91
b) The Target Fund may invest in securities and money market instruments that are traded on another market in a member state
of the European Union that operates regularly and is recognized, regulated and open to the public.
c) The Target Fund may invest in securities and money market instruments that are admitted for official trading on an exchange
in a state that is not a member state of the European Union or traded on another regulated market in that state that operates
regularly and is recognized and open to the public.
d) The Target Fund may invest in securities and money market instruments that are new issues, provided that:
the terms of issue include the obligation to apply for admission for trading on an exchange or on another regulated market
that operates regularly and is recognized and open to the public, and
such admission is procured no later than one year after the issue.
e) The Target Fund may invest in shares of Undertakings for Collective Investment in Transferable Securities within the meaning
of Council Directive 85/611/EEC and/or other collective investment undertakings within the meaning of the first and second
indent of Article 1 (2), should they be situated in a member state of the European Union or not, provided that
such other collective investment undertakings have been authorized under laws that provide that they are subject to
supervision considered by the Commission de Surveillance du Secteur Financier to be equivalent to that laid down in
Community law, and that cooperation between authorities is sufficiently ensured;
the level of protection for shareholders in the other collective investment undertakings is equivalent to that provided for
shareholders in an Undertaking for Collective Investment in Transferable Securities and in particular that the rules on
Target Fund asset segregation, borrowing, lending, and short sales of transferable securities and money market
instruments are equivalent to the requirements of Council Directive 85/611/EEC;
the business of the other collective investment undertakings is reported in semi-annual and annual reports to enable an
assessment to be made of the assets and liabilities, income and transactions over the reporting period;
no more than 10% of the assets of the Undertaking for Collective Investment in Transferable Securities or of the other
collective investment undertaking whose acquisition is being contemplated can, according to its contract terms or
corporate by-laws, be invested in aggregate in shares of other Undertakings for Collective Investment in Transferable
Securities or other collective investment undertakings.
f) The Target Fund may invest in deposits with financial institutions that are repayable on demand or have the right to be
withdrawn, and mature within twelve months or less, provided that the financial institution has its registered office in a member
state of the European Union or, if the registered office of the financial institution is situated in a state that is not a member state
of the European Union, provided that it is subject to prudential rules considered by the Commission de Surveillance du Secteur
Financier as equivalent to those laid down in Community law.
g) The Target Fund may invest in financial derivative instruments (derivatives), including equivalent cash-settled instruments,
that are traded on a market referred to in (a), (b) and (c) and/or financial derivative instruments that are not traded on an
exchange (OTC derivatives), provided that:
the underlying instruments are instruments covered by this paragraph or financial indices, interest rates, foreign exchange
rates or currencies;
the counterparties to OTC derivative transactions are institutions subject to prudential supervision, and belonging to the
categories approved by the Commission de Surveillance du Secteur Financier; and
the OTC derivatives are subject to reliable and verifiable valuation on a daily basis and can be sold, liquidated or closed
by an offsetting transaction at any time at their fair value at the Target Funds initiative.
h) The Target Fund may invest in money market instruments not traded on a regulated market that are usually traded on the
money market, are liquid and have a value that can be accurately determined at any time, if the issue or issuer of such
instruments is itself regulated for the purpose of protecting investors and savings, and provided that these instruments are
issued or guaranteed by a central, regional or local authority or central bank of a member state of the European Union,
the European Central Bank, the European Union or the European Investment Bank, a state that is not a member state of
the European Union or, in the case of a federal state, by one of the members making up the federation, or by a public
international body of which one or more member states of the European Union are members; or
issued by an undertaking whose securities are traded on the regulated markets referred to in the preceding
subparagraphs (a), (b) or (c); or
issued or guaranteed by an establishment that is subject to prudential supervision in accordance with the criteria defined
by Community law, or by an establishment that is subject to and complies with prudential rules considered by the
Commission de Surveillance du Secteur Financier to be at least as stringent as those laid down by Community law; or
issued by other bodies belonging to the categories approved by the Commission de Surveillance du Secteur Financier,
provided that investments in such instruments are subject to investor protection equivalent to that laid down in the first,
the second or the third preceding indent and provided that the issuer is a company whose capital and reserves amount to
at least EUR 10 million and which presents and publishes its annual financial statements in accordance with the Fourth
Council Directive 78/660/EEC, is an entity that, within a group of companies that includes one or more exchange-listed
92
companies, is dedicated to the financing of the group or is an entity that is dedicated to the financing of securitization
vehicles that benefit from credit lines to assure liquidity.
i) Notwithstanding the principle of risk spreading, the Target Fund may invest up to 100% of its assets in securities and money
market instruments stemming from different issues that are issued or guaranteed by a member state of the European Union,
its local authorities, a state that is not a member state of the European Union, or by a public international body of which one or
more member states of the European Union are members, provided that the Target Fund holds securities that originated from
at least six different issues and the securities stemming from any one issue do not exceed 30% of the assets of the Target
Fund.
j) The Target Fund may not invest in precious metals or precious-metal certificates; if the investment policy of the Target Fund
contains a special reference to this clause, this restriction does not apply for 1:1 certificates whose underlying are single
commodities/precious metals and that meet the requirements of securities as determined in Article 2 of EC-Directive
2007/16/EC.
Investment limits
a) No more than 10% of the Target Funds net assets may be invested in securities or money market instruments from any one
issuer.
b) No more than 20% of the Target Funds net assets may be invested in deposits made with any one institution.
c) The risk exposure to a counterparty in OTC derivative transactions may not exceed 10% of the Target Funds net assets if the
counterparty is a credit institution as defined in Investment restriction (f) above. In all other cases, the exposure limit is 5% of
the Target Funds net assets.
d) No more than 40% of the Target Funds net assets may be invested in securities and money market instruments of issuers in
which over 5% of the Target Funds net assets are invested. This limitation does not apply to deposits and OTC derivative
transactions conducted with financial institutions that are subject to prudential supervision. Notwithstanding the individual
upper limits specified in (a), (b) and (c) above, the Target Fund may not invest more than 20% of its net assets in a
combination of
investments in securities or money market instruments issued by, and/or
deposits made with, and/or
exposures arising from OTC derivative transactions undertaken with a single institution.
e) The limit of 10% set in (a) rises to 35%, and the limit set in (d) does not apply to securities and money market instruments
issued or guaranteed by
a member state of the European Union or its local authorities; or
a state that is not a member state of the European Union; or
public international bodies of which one or more member states of the European Union are members.
f) The limit set in (a) rises from 10% to 25%, and the limit set in (d) does not apply in the case of bonds that fulfil the following
conditions:
they are issued by a credit institution that has its registered office in a member state of the European Union and which is
legally subject to special public supervision intended to protect the holders of such bonds; and
sums deriving from the issue of such bonds are invested in conformity with the law in assets that, during the whole period
of validity of the bonds, are capable of covering claims attaching to the bonds; and
such assets, in the event of default of the issuer, would be used on a priority basis for the repayment of the principal and
payment of the accrued interest. If the Target Fund invests more than 5% of its assets in bonds of this type issued by any
one issuer, the total value of these investments may not exceed 80% of the value of the net assets of the Target Fund.
g) The limits provided for in paragraphs (a), (b), (c), (d), (e) and (f) may not be combined, and thus investments in transferable
securities or money market instruments issued by any one institution or in deposits made with this institution or in this
institutions derivative instruments shall under no circumstances exceed in total 35% of the Target Funds net assets. The
Target Fund may cumulatively invest up to 20% of its assets in securities and money market instruments of any one group of
companies. Companies that are included in the same group for the purposes of consolidated financial statements, as defined
in accordance with the Seventh Council Directive 83/349/EEC or in accordance with recognized international accounting rules,
shall be regarded as a single issuer for the purpose of calculating the limits contained in this section.
h) The Target Fund may invest no more than 10% of its net assets in securities and money market instruments other than those
specified in the Investments section.
i) The Target Fund may invest no more than 10% of its net assets in shares of other Undertakings for Collective Investment in
Transferable Securities and/or other collective investment undertakings as defined in Investments (e). In the case of
investments in shares of another Undertaking for Collective Investment in Transferable Securities and/or other collective
investment undertakings, the investments held by that Undertaking for Collective Investment in Transferable Securities and/or
by other collective investment undertakings are not taken into consideration for the purposes of the limits laid down in (a), (b),
(c), (d), (e) and (f).
93
j) If admission to one of the markets defined under Investments (a), (b) or (c) is not obtained within the one-year deadline, new
issues shall be considered unlisted securities and money market instruments and counted towards the investment limit stated
there.
k) The Company may not purchase equities with voting rights that would enable the Company to exert significant influence on the
management policies of the relevant issuer. The Company may acquire no more than:
10% of the non-voting shares of any one issuer;

10% of the bonds of any one issuer;
25% of the shares of any one fund;
10% of the money market instruments of any one issuer.
The limits laid down in the second, third and fourth indents may be disregarded at the time of acquisition if at that time the gross
amount of the bonds or of the money market instruments, or the net amount of outstanding fund shares, cannot be calculated.
l) The investment limits specified in (k) shall not be applied to:
securities and money market instruments issued or guaranteed by a member state of the European Union or its local
authorities;
securities and money market instruments issued or guaranteed by a state that is not a member state of the European
Union;
securities and money market instruments issued by public international bodies of which one or more member states of the
European Union are members;
shares held by the Target Fund in the capital of a company incorporated in a state that is not a member state of the
European Union, investing its assets mainly in the securities of issuing bodies having their registered offices in that state,
where under the legislation of that state such a holding represents the only way in which the Target Fund can invest in the
securities of issuers from that state. This derogation, however, shall apply only if in its investment policy the company
from the state that is not a member state of the European Union complies with the limits specified in (a), (b), (c), (d), (e),
(f) and (g), (i) and (k). Where these limits are exceeded, Article 49 of the Law of December 20, 2002, on Undertakings for
Collective Investment shall apply;
shares held by one or more investment companies in the capital of subsidiary companies that only conduct certain
management, advisory or marketing activities with regard to the repurchase of shares at the request of shareholders in
the country where the subsidiary is located, and do so exclusively on behalf of the investment company or investment
companies.
m) Notwithstanding the limits specified in (k) and (l), the maximum limits specified in (a), (b), (c), (d), (e) and (f) for investments in
shares and/or debt securities of any one issuer are 20% when the objective of the investment policy is to replicate the
composition of a certain index. This is subject to the condition that:
the composition of the index is sufficiently diversified,
the index represents an adequate benchmark for the market to which it refers,
the index is published in an appropriate manner. The maximum limit is 35% where that proves to be justified by
exceptional market conditions, in particular in regulated markets where certain transferable securities or money market
instruments are highly dominant. An investment up to this limit is only permitted for one single issuer.
n) The Target Funds global exposure relating to derivative instruments must not exceed the total net value of its portfolio. The
exposure is calculated taking into account the current value of the underlying instruments, the counterparty risk, future market
movements and the time available to liquidate the positions. The Target Fund may invest in derivatives as part of its
investment strategy and within the limits specified in (g), provided that the global exposure to the underlying instruments does
not exceed on aggregate the investment limits specified in (a), (b), (c), (d), (e) and (f). If the Target Fund invests in index-
based derivatives, these investments are not taken into consideration with reference to the investment limits specified in (a),
(b), (c), (d), (e) and (f). When a security or money market instrument embeds a derivative, the latter must be taken into
consideration when complying with the requirements of the investment limits.
o) In addition, the Target Fund may invest up to 49% of its assets in liquid assets. In particular exceptional cases it is permitted to
temporarily have more than 49% invested in liquid assets, if and to the extent that this appears to be justified with regard to the
interests of shareholders.
Exceptions to the investment limits
a) The Target Fund need not comply with the investment limits when exercising subscription rights attaching to securities or
money market instruments that form part of its assets.
b) While ensuring observance of the principle of risk spreading, the Target Fund may derogate from the specified investment
limits for a period of six months following the date of its authorization.
Credit restrictions
No borrowing may be undertaken by the Target Fund. The Target Fund may, however, acquire foreign currency by means of a
back-to-back loan. By way of derogation from the preceding paragraph, the Target Fund may borrow:
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up to 10% of the Target Funds net assets, provided that such borrowing is on a temporary basis;
up to the equivalent of 10% of the Target Funds assets, provided that the borrowing is to make possible the acquisition of
immovable property essential for the direct pursuit of its business; in this case the borrowing and that referred to in the
preceding subparagraph may not in any case in total exceed 15% of the Target Funds net assets. The Target Fund may not
grant loans, nor may it act as guarantor on behalf of third parties. This shall not prevent the Target Fund from acquiring
securities, money market instruments or other financial instruments that are not yet fully paid in.
Short sales
The Target Fund may not engage in short sales of securities, money market instruments or other financial instruments as specified
in Investments (e), (g) and (h).
Encumbrance
A Target Funds assets may only be pledged as collateral, transferred, assigned or otherwise encumbered to the extent that such
transactions are required by an exchange or regulated market or imposed by contractual or other terms and conditions.
Securities lending and repurchase agreements
a) In a standardized securities lending system, up to 50% of the Target Funds securities may be lent for a maximum of 30 days.
The securities lending system must be organized by a recognized clearing organization or a top-rated financial institution
specializing in such transactions.
The securities lending may comprise more than 50% of the securities held by the Target Fund or have a term of more than 30
days, provided that the Target Fund has the right to terminate the securities loan at any time and demand the return of the lent
securities.
When lending securities, the Target Fund must generally receive collateral in the amount of at least the total value of the lent
securities at the time the contract was entered into. This collateral may consist of liquid assets or securities issued or
guaranteed by OECD member countries, their local authorities, or international organizations. These liquid assets or securities
must be restricted in favour of the Target Fund for the duration of the securities loan.
Securities lending may also be conducted synthetically (synthetic securities lending). In a synthetic securities loan, a security
contained in the Target Fund is sold to a counterparty at the current market price. This sale is, however, subject to the
condition that the Target Fund simultaneously receives from the counterparty a securitized unleveraged option giving the
Target Fund the right to demand delivery at a later date of securities of the same kind, quality and quantity as the sold
securities. The price of the option (the option price) is equal to the current market price received from the sale of the
securities less (a) the securities lending fee, (b) the income (e.g. dividends, interest payments, corporate actions) from the
securities that can be demanded back upon exercise of the option and (c) the exercise price associated with the option. The
option will be exercised at the exercise price during the term of the option. If the security underlying the synthetic securities
loan is to be sold during the term of the option in order to implement the investment strategy, such a sale may also be
executed by selling the option at the then prevailing market price less the exercise price.
b) The Target Fund may from time to time buy or sell securities in repurchase agreements. The counterparty must be a top-rated
financial institution specializing in such transactions. During the period of the securities repurchase agreement, the Target
Fund may not sell the securities involved. The scope of securities repurchase transactions will always be kept at a level that
allows the Target Fund to meet its redemption obligations at any time.
Other permissible assets
Derivatives
The Target Fund may use derivatives. Their use need not be limited to hedging the Target Funds assets; they may also be part of
the investment strategy.
Trading in derivatives is conducted within the confines of the investment limits and provides for the efficient management of the
Target Funds assets, while also regulating investment maturities and risks. Under no circumstance will these transactions cause
the Target Fund concerned to diverge from its investment objectives as specified in the prospectus.
In this context, the following risks in particular may be associated with derivatives:
a) the time-limited rights acquired may expire worthless or suffer a fall in value;
b) the risk of loss cannot be predicted and may exceed margins;
c) transactions intended to eliminate or reduce risks may not be possible or may only be possible at market prices resulting in a
loss;
d) the risk of loss increases if the obligations or claims arising from these transactions are denominated in foreign currency.
Options
Within the scope of the investment policy of the Target Fund, warrants for securities may be acquired. Warrants involve specific
risks that result from the so-called leverage effect. This leverage effect is produced by the employment of less capital when
acquiring the warrants than when acquiring the underlying assets directly. The greater this leverage is, the more extremely the price
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of the warrant will change when there is a change in the price of the underlying assets (compared to the subscription price specified
in the terms of the warrant). Accordingly, the opportunities and risks in warrants tend to increase as leverage increases.
Swaps
Swaps are exchange contracts that are used, for example, to control exposure to interest rates and currencies. Their use allows the
maturity pattern of the Target Funds interest-bearing assets to be reduced or extended, thus providing control over exposure to
interest rate fluctuations.
In addition, currency risks can be altered using swaps if assets are exchanged into another currency. The Target Fund may enter
into swap transactions on interest rates, currencies and equities, as well as on combinations of these transactions within the scope
of the investment principles. If no market price is available for any of the above swap transactions, the price is determined at the
time the transaction is entered into, as well as on each date at which the net asset value per share is calculated, by deriving it from
the market price of the underlying instruments using accepted valuation models. Transactions and price determinations are
documented. In addition to the swap transactions already mentioned, the Target Fund may also enter into credit default swaps. A
credit default swap is a bilateral financial agreement under which a counterparty (the protection buyer) pays a periodic premium
against an undertaking by the protection seller to pay a certain amount if the reference issuer becomes subject to a credit default
risk. The protection buyer acquires the right to sell a particular bond issued by the reference issuer at its face value (or at another
reference value or strike price) if a credit default event arises. A credit default event generally includes bankruptcy, insolvency,
reorganization under court supervision, significant detrimental rescheduling of debt, or inability to fulfill payment obligations falling
due. The International Swaps and Derivatives Association (ISDA) has formulated standardized documentation for such
transactions in the ISDA Master Agreement.
Credit default swaps are valued according to standard market practice at the current value of future cash flows, where the cash
flows are adjusted to take into account the risk of default. Interest rate swaps are valued at their market value, which is determined
based on the interest-rate curve for each swap. Other swaps are valued at an appropriate market value, determined in good faith in
accordance with recognized valuation methods that have been specified by the DWS Investment S.A. and approved by the Target
Funds auditor.
The use of credit default swaps may entail greater risks than direct investment in debt securities. The market for credit default
swaps can at times be less liquid than the markets for debt securities. Nevertheless, the Target Fund seeks to limit investments to
credit default swaps that are liquid. The Target Fund will therefore always strive to attain a position in which it will be able to
liquidate its credit default swap exposure in order to accommodate redemption requests. In respect of credit default swaps in which
the Target Fund is the protection seller, the Target Fund becomes subject to the risks attributable to an event of default relating to
the reference issuer. Furthermore, in respect of credit default swaps in which the Target Fund is the protection buyer, the Target
Fund becomes subject to the risk of default by the counterparty. When using credit default swap transactions to reduce the risk of
default, the Target Fund will only enter into credit default swaps with top-rated financial institutions specializing in such transactions,
and it will adhere to the standardized provisions specified by the ISDA.
Risk management
The Target Fund shall include a risk management process that enables the DWS Investment S.A. to monitor and measure at any
time the risk of the positions and their contribution to the overall risk profile of the portfolio. It shall include a process for accurate
and independent assessment of the value of OTC derivative instruments.
DWS Investment S.A. monitors the Target Fund as specified in circular no. 05/176, dated April 5, 2005, of the Commission de
Surveillance du Secteur Financier (CSSF) in accordance with the complex approach requirements and guarantees for the Target
Fund that the overall risk associated with derivative financial instruments does not exceed 100% of the net assets of that Target
Fund and that the risk of the Target Fund therefore does not persistently exceed 200% of the net assets of that Target Fund.
The overall risk of the Target Fund must not be increased by more than 10% through temporary borrowing, so that the overall risk
does not exceed 210% of the net asset value per share under any circumstances.
An overall commitment thus increased of up to 210% can significantly increase both the opportunities and the risks associated with
an investment (see in particular the risk warnings in the Derivatives section).
96
To grow the value of Unit holders investments over the long term in an equity fund that invests in undervalued and/or undiscovered
companies.
Benchmark
The benchmark of this Fund is the MSCI All Country Asia ex Japan Index.
Information on the benchmark can be obtained from http://www.mscibarra.com/products/indices
The Fund will invest between 70% to 98% of its NAV in equities (both inclusive) and between 2% to 30% in liquid assets and any
other assets, depending on the market condition. In line with its objective, the investment policy and strategy of the Fund is to invest
primarily in shares of companies that are deemed to be undervalued as measured by the Price/Earning Ratio, Price/Book, Dividend
Yield or any other appropriate method as may be determined by the Manager.
The Manager has appointed CIMB-Principal Asset Management (S) Pte Ltd (CIMB-Principal (S)), a company incorporated in
Singapore, as the Sub-Manager of the CIMB-Principal Emerging Asia Fund with the approval of the SC. CIMB-Principal (S) will be
responsible for investing and managing the CIMB-Principal Emerging Asia Fund in accordance with the investment objective and
within the investment restrictions. All costs of this appointment will be borne by the Manager to ensure no additional fee is levied on
the Unit holders of this Fund. CIMB-Principal (S) will adopt an active investment strategy. After determining the investment
universe, they will screen through the universe of stocks and select the stocks that meet a combination of quantitative and
qualitative criteria.
As part of its risk management strategy, the Fund is constructed and managed within pre-determined guidelines. CIMB-Principal (S)
employs an active asset allocation strategy depending upon the equity market expectations. Where appropriate, the Sub-Manager
will also employ an active trading strategy in managing the Fund.
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The CIMB-Principal Global Asset Spectra Fund aims to provide capital growth over the medium to long-term through
investments in a diversified portfolio of local and/or foreign collective investment schemes (including exchange-traded funds).
Benchmark
MSCI World Index (25%) + JP Morgan Global Government Bond Index (25%) + S&P/Citigroup BMI Property Index (25%) +
S&P GSCITM Total Return Index (25%).
The combination of indexes for the above benchmark reflects the Funds investment in a broad range of asset classes, i.e. equities,
fixed income securities, property-related securities and commodity-related securities.
Information on MSCI World Index can be obtained from http://www.mscibarra.com/products/indices

Information on JP Morgan Global Government Bond Index can be obtained from Bloomberg L.P.
Information on S&P/Citigroup BMI Property Index can be obtained from http://globalindices.standardandpoors.com
Information on S&P GSCITM Total Return Index can be obtained from http://www2.standardandpoors.com
Alternatively, information on the benchmark is available on http://www.cimb-principal.com.my
At least 95% of the NAV of the Fund will be invested in a portfolio of reputable domestic and global collective investment schemes
that are registered with recognised exchanges and/or authorities, including but not limited to, the following countries: Malaysia,
Ireland, Luxembourg, Australia and Hong Kong (hereinafter referred to as the Target Funds).
at least 95% of the Funds NAV will be invested in Target Funds;

The Fund will be invested in a minimum of five (5) Target Funds at all times, with a maximum exposure of 30% of the Funds NAV
in one (1) Target Fund. The investment strategy adheres to the SC Guidelines pertaining to Fund-of-Funds. As such, any changes
to the guidelines would tantamount to a change in this investment strategy. The following asset classes have been identified for the
Fund to invest in:
Equities;
Fixed income securities;
Property-related securities; and
Commodity-related securities.
Singapore, as the Sub-Manager of the CIMB-Principal Global Asset Spectra Fund with the approval of the SC. CIMB-Principal (S)
will be responsible for investing in managing the CIMB-Principal Global Asset Spectra Fund in accordance with the investment
objective and within the investment restrictions. All costs of this appointment will be borne by the Manager to ensure no additional
fee is levied on the Unit holders of this Fund.
The Funds allocation to each of the aforesaid asset classes will range from 0% to 40% of the Funds NAV, depending on the Sub-
Managers outlook for each asset class. For each asset class, the Sub-Manager may also invest in more than one (1) Target Fund.
The Funds allocation in the asset classes/Target Funds would depend on the fund managers view and the outlook for each asset
class/geographical region/country.
The Sub-Manager will actively make the asset allocation decision and invest in the appropriate Target Funds to build a well-
diversified portfolio of funds. The Fund will be exposed to the above broad range of asset classes which are expected to have low
correlation with each other.
The Sub-Manager will use a combination of top-down and bottom-up analysis to arrive at an investment decision. The investment
team, consisting of both the fixed income and equity teams, meets every month to set out the broad macro / market outlook for the
coming months.
Portfolio construction is undertaken within a structured risk controlled framework to ensure diversification across countries, asset
classes and credits. The Sub-Manager will actively select and combine the Target Funds to produce an optimal diversified portfolio.
Factors taken into consideration include the risk and correlation of each asset class, the overall risk-return ratio of the combined
portfolio and the current and expected outlook for each asset class / region.
Solid management and sound investment performance of the Target Funds are factors that the Sub-Manager also considers. In
evaluating the suitability of Target Funds for investment, the Sub-Manager will conduct a review of the track record of the manager
and the fund, investment objective of the Target Fund, investment policy and strategies, fund performance and other factors
deemed important by the Sub-Manager.
Under normal market conditions, the Fund will invest primarily in a portfolio of equities and fixed income Target Funds where the
investments are in companies/issuers incorporated or have their principal business activities in developed countries and/or
Malaysia. The Fund may also invest in global Target Funds with investments in property-related and commodity-related securities.
98
The Sub-Manager will invest in the Target Funds in a manner which will be in the best interest of the Unit holders. The switch to
another Target Fund may be performed on a staggered basis to facilitate a smooth transaction. Hence during the transition period,
the Funds investment may differ from the stipulated investment strategies.
As part of its risk management strategy, the Fund is constructed and managed within pre-determined guidelines. CIMB-Principal (S)
employs an active asset allocation strategy depending upon the equity market expectations. Where appropriate, the Sub-Manager
will also employ an active trading strategy in managing the Fund.
purposes such as hedging.
99
The investment objective is to seek capital appreciation and current income over the long term by investing in a diversified portfolio
of equity and fixed income securities worldwide (excluding Malaysia).
Benchmark
As this Fund may invest up to 60% of its NAV in global equities and at least 40% of its NAV in global fixed income securities, the
benchmark of the Fund is a composite comprising 55% MSCI All Country World Index + 45% JP Morgan Global Government Bond
Index.
Information on the MSCI All Country World Index can be obtained from http://www.mscibarra.com/products/indices whilst the
JP Morgan Global Government Bond Index can be obtained from
http://www.jpmorgan.com/pages/jpmorgan/investbk/solutions/research/indices/products
The Fund aims to achieve its investment objective of capital appreciation and current income by investing in equity and debt
obligations of companies and governments worldwide (excluding Malaysia). The investment policy and strategy of the Fund will be
to maintain a balanced portfolio between equities and fixed income investments in the ratio of 60:40. The investments by the Fund
in equity securities shall not exceed 60% of the NAV of the Fund and investments in fixed income securities and liquid assets shall
not be less than 40% of the NAV of the Fund. The Funds portfolio will normally be invested in equity or equity-linked securities,
including debt or preferred stock convertible or exchangeable into equity securities, selected primarily on the basis of their capital
growth potential (excluding Malaysia). The Fund will seek income by investing in fixed or floating rate securities and debt
obligations of government, government-related and corporate issuers in countries around the world (excluding Malaysia). For this
Fund, the debt securities investment must satisfy a minimum rating requirement of at least A3 or P2 by RAM or equivalent rating
by MARC, Moodys, S&P or Fitch.

up to 60% of the NAV of the Fund in equities securities;
at least 40% of the NAV of the Fund in fixed income securities and liquid assets; and
at least 0.5% of the NAV of the Fund must be maintained in liquid assets.
The asset allocation strategy will be reviewed periodically depending on the global outlook on the economy and financial markets
generally. If the 60% equity limit is breached, the Manager will seek to adjust this within a time frame approved by the Trustee.
The investments of the Fund in the foreign markets are in accordance with the SC Guidelines. They are further subject to the limits
approved by the BNM.
The Manager has appointed Templeton Asset Management Ltd (TAML), a company incorporated in Singapore, as the Sub-
Manager of the CIMB-Principal Global Balanced Fund with the approval of the SC. TAML will be responsible for investing and
managing the CIMB-Principal Global Balanced Fund in accordance with the investment objective and within the investment
this Fund. TAML will actively decide on the asset allocation based on the outlook of the different geographical markets as well as
domestic interest rate trends. The Sub-Managers investment policy and strategy will be based on its global outlook on the
economy and financial markets generally, as well as relative market valuation.
TAML reserves the right to change the asset allocation and/or the investment strategy (including, but not limited to the investment
in foreign mutual funds), provided that the changes are at all times in accordance with the objectives of the Fund.
As part of its risk management strategy, TAML may vary the Funds asset allocation in line with its outlook. In addition, the Fund is
constructed and managed within pre-determined guidelines. TAML employs an active asset allocation strategy depending upon the
equity market expectations. Where appropriate, the Sub-Manager will also employ an active trading strategy in managing the Fund.
In response to adverse conditions and as part of its risk management strategy, TAML may from time to time reduce its proportion of
higher risk assets, such as equities and increase its asset allocation to lower risk assets, such as debentures and liquid assets, to
safeguard the investment portfolio of the Fund provided that such investments are within the investment objective of the Fund.
When deemed necessary, the Sub-Manager may also utilize derivative instruments, subject to the SC Guidelines for purpose such
as hedging.
100
The investment objective is to seek long term capital growth by investing in global equities and debt obligations of companies and
governments worldwide (excluding Malaysia).
Benchmark
The benchmark of the Fund is the MSCI All Country World Index.
Information on the benchmark can be obtained from http://www.mscibarra.com/products/indices
The Fund will invest principally in global securities, between 70% to 99.5% of its NAV (both inclusive). Under normal market
conditions, the investment policy and strategy of the Fund is to invest primarily in common stocks. However, since the investment
objective is more likely to be achieved through an investment policy that is flexible and adaptable, it may seek investment
opportunities in other types of securities, such as preferred stock, securities convertible into common stock and other fixed income
securities.

between 70% to 99.5% in global securities (both inclusive); and
at least 0.5% in liquid assets.
The asset allocation will be reviewed periodically depending on the global outlook on the economy and financial markets generally.
In a rising market, this 99.5% limit may be breached. However, the Manager will seek to adjust this within a time frame approved by
the Trustee.
The Fund will seek to achieve long-term capital growth, through a policy of investing in equity and debt obligations of companies
and governments worldwide (excluding Malaysia). The investments of the Fund in the foreign markets are in accordance to the SC
Guidelines. They are further subject to the limits approved by BNM.
The Manager has appointed Templeton Asset Management Ltd (TAML), a company incorporated in Singapore, as the Sub-
Manager of the CIMB-Principal Global Growth Fund with the approval of the SC. TAML will be responsible for investing and
managing the CIMB-Principal Global Growth Fund in accordance with the investment objective and within the investment
this Fund. TAML will actively decide on the asset allocation based on the outlook of the different geographical markets as well as
domestic interest rate trends. The Sub-Managers investment policy and strategy will be based on its global outlook on the
economy and financial markets generally, as well as relative market valuation.
TAML reserves the right to change the asset allocation and/or the investment strategy (including, but not limited to the investment
in foreign mutual funds), provided that the changes are at all times in accordance with the objectives of the Fund.
As part of its risk management strategy, TAML may vary the Funds asset allocation in line with its outlook. In addition, the Fund is
constructed and managed within pre-determined guidelines. TAML employs an active asset allocation strategy depending upon the
equity market expectations. Where appropriate, the Sub-Manager will also employ an active trading strategy in managing the Fund.
In response to adverse conditions and as part of its risk management strategy, TAML may from time to time reduce its proportion of
higher risk assets, such as equities and increase its asset allocation to lower risk assets, such as debentures and liquid assets, to
safeguard the investment portfolio of the Fund provided that such investments are within the investment objective of the Fund.
When deemed necessary, the Sub-Manager may also utilize derivative instruments, subject to the SC Guidelines for purpose such
as hedging.
101
The objective of CIMB-Principal Global Titans Fund is to grow the value of Unit holders investments over the medium to long
term in an equity fund that invests in the global titans market of the US, Europe and Japan with an exposure to Malaysian equities
market to balance any short term volatilities.
Benchmark
The benchmark of this Fund is a composite comprising 42% S&P 500 + 36% MSCI Europe + 12% MSCI Japan + 10% CIMB Bank
1-Month Fixed Deposit Rate. The weightage to the 3 global titans market is reflective of their relative world market capitalization
with the balance 25% exposure to Malaysia.
Information on the S&P 500 can be obtained from http://www2.standardandpoors.com
Information on the MSCI Indices can be obtained from http://www.mscibarra.com/products/indices
The Fund will invest at least 50% of its NAV in three (3) collective investment schemes, subject to a maximum of 98% of its NAV.
The Fund may invest in Malaysian securities but only up to 50% of its NAV. The Fund seeks to give investors a broad exposure to
three (3) global regions which attract over 90% of global investment monies in equities. This will be achieved by investing in three
(3) PGI funds which invest into these three (3) markets. The Fund will at all times be invested in the three (3) PGI funds, each
covering separate geographic regions thus providing diversification and allowing a greater spread of risk. The allocation between
the PGI funds is done through a combination of macroeconomic data, liquidity trends and the outlook to overweight or underweight
a particular PGI fund. By investing the proper asset allocation between these three (3) PGI funds, the Fund seeks to exploit the low
correlation between the Asian markets and the rest of the world.
The asset allocation strategy for the Fund is as follows:
PGI funds (US Equity Fund, Japanese Equity Fund and European Equity Fund): between 50% - 98% of the Funds NAV; and
investments in Malaysian securities: up to 50% of the Funds NAV.
PGI Funds is a UCITS (Undertaking for Collective Investment in Transferable Securities) Umbrella Unit Trust established under
the laws of Ireland. The Manager of the funds is Principal Global Investors (Ireland) Limited which was incorporated in Ireland on 22
March 1999 and is ultimately a wholly-owned subsidiary of Principal Financial Group Inc (PFG). Principal Global Investors, LLC is
the investment advisers of the funds. PFG, through its subsidiaries, is a shareholder of CIMB-Principal.
The three (3) PGI funds are:
The PGI Funds US Equity Fund seeks to provide capital growth over the medium to long-term predominantly through investment
in equity securities of companies domiciled or with their core business in the United States.
The PGI Funds European Equity Fund aims to provide capital growth over the medium to long-term predominantly through
investment in equity securities of companies domiciled or with their core business in Europe (including Eastern Europe).
The PGI Funds Japanese Equity Fund aims to provide capital growth over the medium to long-term predominantly through
investment in equity securities of companies domiciled or with their core business in Japan.
The choice for these PGI funds is due to their ability to provide the following:
1) Exposure to investment opportunities in developed markets such as the United States, Europe and Japan.
2) Investments into funds investing in the Global Titans markets when combined with equity funds solely designated for
investments into the Malaysian stock market, will assist in reducing volatility of the investors overall equity investments. This
is a result of these funds low correlation with the FTSE Bursa Malaysia Top 100 Index and is consistent with portfolio
diversification.
3) The funds possess good track records. Generally, these funds managed to outperform their respective benchmarks.
4) Ride on the expertise of our shareholder, PFG.
Singapore, as the Sub-Manager of the Fund with the approval of the SC. CIMB-Principal (S) will be responsible for investing and
managing the Fund in accordance with the investment objective and within the investment restrictions. All costs of this appointment
will be borne by the Manager to ensure no additional fee is levied on the Unit holders of this Fund. CIMB-Principal (S) will actively
decide on the asset allocation between the US, Europe and Japan, based on the outlook of the different geographical markets as
well as domestic interest rate trends. Based on the Sub-Managers global outlook on the economy and financial markets generally,
as well as relative market valuation, the Sub-Manager may also invest in Malaysian securities in order to balance any short- term
volatilities. The Sub-Manager may opt to invest in Malaysian securities either directly or via collective investment schemes.
102
CIMB-Principal (S) reserves the right to change the asset allocation and/or the investment strategy (including, but not limited to the
investment in foreign mutual funds), provided that the changes are at all times in accordance with the objectives of the Fund.
As part of its risk management strategy, CIMB-Principal (S) may vary the Funds asset allocation in the collective investment
schemes between 50%-98% in line with its outlook. In addition, the Fund is constructed and managed within pre-determined
guidelines. CIMB-Principal (S) employs an active asset allocation strategy depending upon the equity market expectations. Where
appropriate, the Sub-Manager will also employ an active trading strategy in managing the Fund.
103
The CIMB-Principal Greater China Equity Fund aims to achieve medium to long term capital growth primarily through investment
in a portfolio of equity securities with exposure to the Greater China region consisting of the Peoples Republic of China, Hong
Kong and Taiwan.
Benchmark
The Fund adheres to the benchmark of the Target Fund. The benchmark of the Target Fund is the MSCI Golden Dragon Index.
Information on the benchmark is available at http://www.cimb-principal.com.my and Bloomberg L.P.
The Fund is a Feeder Fund that invests at least 95% of the Funds NAV in the Schroder ISF Greater China, a fund of the Schroder
International Selection Fund, an open-ended investment company registered in Luxembourg. Information on Schroder ISF Greater
China is detailed below.
at least 95% of the Funds NAV will be invested in the Schroder ISF Greater China; and
This Target Fund invests primarily in the Peoples Republic of China, Hong Kong and Taiwan equity markets; hence, investment
risk is expected to be higher than a globally diversified fund. Nevertheless, the Target Funds highly disciplined portfolio
constructions used will serve to ensure that investment risk levels are appropriate. In addition, the Fund may be hedged against the
US Dollar should the circumstances warrant it to hedge against adverse currency movements.
If, in the opinion of the Manager, the Schroder ISF Greater China no longer meets the Funds investment objective, and/or when
acting in the best interests of Unit holders, CIMB-Principal may replace the Schroder ISF Greater China with another Target Fund
that is consistent with the objective of this Fund, subject to the approval of the Unit holders. The switch to another Target Fund may
be performed on a staggered basis to facilitate a smooth transition. This is applicable should the Schroder ISF Greater China
impose any conditions in relation to redemption of units or if the manager of the newly identified Target Fund exercises its
discretion to apply an Anti Dilution Levy* in relation to applications for units. Thus, the time frame required to perform the transition
will depend on such conditions, if any, imposed by the Schroder ISF Greater China as well as any conditions associated with an
Anti Dilution Levy that may be charged at the newly identified Target Fund level. Hence during the transition period, the Funds
investment may differ from the stipulated investment strategies.
costs.
104
About Schroder ISF Greater China
Schroder International Selection Fund (the "Company") is an open-ended investment company registered with the Registre de
Commerce et des Societes, and is organised as a socit anonyme under the laws of the Grand Duchy of Luxembourg and
qualifies as a Societe dInvestissement a Capital Variable (SICAV). The Company operates separate funds, each of which is
represented by one or more classes of shares. The funds are distinguished by their specific investment policy or any other specific
features. The Company constitutes a single legal entity, but the assets of each fund shall be invested for the exclusive benefit of the
shareholders of the corresponding fund and the assets of a specific fund are solely accountable for the liabilities, commitments and
obligations of that fund. The Schroder International Selection Fund Greater China (Schroder ISF Greater China or the Target
Fund) is a fund under the Company which was launched in 28 March 2002. The legislation governing the establishment and
operation of the Target Fund is Luxembourg legislation.
The Directors of the Company have appointed Schroder Investment Management (Luxembourg) S.A. as its management company
to perform administration functions. Schroder Investment Management (Luxembourg) S.A. is regulated by the Commission de
Surveillance du Secteur Financier (CSSF). Schroder Investment Management (Luxembourg) S.A. was incorporated as a "Socit
Anonyme" in Luxembourg on 23 August 1991 and has an issued and fully paid up share capital of EUR 12,650,000. Schroder
Investment Management (Luxembourg) S.A. has been authorized as a management company under Chapter 13 of the Law of
Collective Investment Undertakings dated 20 December 2002 and, as such, provides collective portfolio management services to
undertakings for collective investment.
Schroder Investment Management (Luxembourg) S.A.is also acting as a management company for three other Luxembourg
domiciled Socit dInvestissement Capital Variable: Schroder Special Situations Fund and Schroder Alternative Solutions and
Strategic Solutions.
The investment manager of the Target Fund is Schroder Investment Management (Hong Kong) Limited (SIMHK). SIMHK is
regulated by the Securities and Futures Commission of Hong Kong. SIMHK has been managing collective investment schemes and
discretionary funds in Hong Kong SAR for more than 30 years.
J.P. Morgan Bank Luxembourg S.A. has been appointed as Custodian of the Company.
The base currency is in US Dollars.
To provide capital growth primarily through investment in equity securities of the Peoples Republic of China, Hong Kong SAR and
Taiwan companies.
Benchmark
The benchmark is the MSCI Golden Dragon Index.
Investment strategies
SIMHK is a fundamental bottom up manager of Greater China equities with a growth bias. SIMHK emphasises stocks that are
able to grow shareholders value in the long-term. Their philosophy in the management of Greater China portfolios is based on the
following beliefs:
returns over the long-term reflect economic and corporate fundamentals;

internal fundamental analysis of companies and markets is paramount in identifying attractive investment opportunities; and
companies with consistent above average growth produce superior stock market returns.
SIMHK believes in their potential to generate insight through in-house research and to translate that insight into superior investment
performance through skilful, highly disciplined portfolio construction, while always maintaining the appropriate level of investment
risk.
The investment restrictions imposed by Luxembourg law must be complied with by the fund. Those restrictions in paragraph 1. (D)
below are applicable to the company as a whole. If you need more information, kindly visit their website at http://www.schroders.lu
1. Investment in transferable securities and liquid assets
A) The Company will invest in:
(i) transferable securities and money market instruments admitted to an official listing on a stock exchange in an eligible state;
and/or
(ii) transferable securities and money market instruments dealt in on another regulated market; and/or
(iii) recently issued transferable securities and money market instruments, provided that the terms of issue include an undertaking
that application will be made for admission to official listing on an Eligible Market and such admission is achieved within one
year of the issue.
(iv) Units of undertakings for collective investment in transferable securities (UCITS) and/or of other undertakings for collective
investment within the meaning of the first and second indent of Article 1(2) of Council Directive 85/611/EEC of 20 December
1985, as amended (other UCIs), whether situated in an European Union (EU) member state or not, provided that::
105
such other UCIs have been authorized under the laws which provide that they are subject to supervision considered by
CSSF to be equivalent to that laid down in EU Law, and that cooperation between authorities is sufficiently ensured,
the level of protection for Unit holders in such other UCIs is equivalent to that provided for Unit holders in a UCITS, and in
particular that the rules on assets segregation, borrowing, lending, and uncovered sales of transferable securities and
money market instruments are equivalent to the requirements of Directive 85/661/EEC,
the business of such other UCIs is reported in half-yearly and annual reports to enable an assessment of the assets and
liabilities, income and operations over the reporting period,
no more than 10% of the assets of the UCITS or of the other UCIs, whose acquisition is contemplated, can, according to
their constitutional documents, in aggregate be invested in units of other UCITS or other UCIs; and/or
(v) deposits with credit institutions which are repayable on demand or have the right to be withdrawn, and maturing in no more
that 12 months, provided that the credit institution has its registered office in a country which is EU member state, or if the
registered office of the credit institution is situated in a non-EU member state, provided that it is subject to prudential rules
considered by CSSF as equivalent to those laid down in EU law; and/or
(vi) financial derivative instruments, including equivalent cash-settled instruments, dealt in on a regulated market referred to in
subparagraphs (i) and (ii) above, and/or financial derivative instruments dealt in over-the-counter (OTC derivatives), provided
that:
the underlying consists of securities covered by this section 1. A), financial indices, interest rates, foreign exchange rates
or currencies, in which the funds may invest according to their investment objective;
the counterparties to OTC derivative transactions are institutions subject to prudential supervision, and belonging to the
categories approved by the Luxembourg supervisory authority;
the OTC derivatives are subject to reliable and verifiable valuation on a daily basis and can be sold, liquidated or closed
by an offsetting transaction at any time at their fair value at the companys initiative.
and/or
(vii) money market instruments other than those dealt in on a regulated market, if the issue or the issuer of such instruments are
themselves regulated for the purpose of protecting investors and savings, and provided that such instruments are:
issued or guaranteed by a central, regional or local authority or by a central bank of an EU member state, the European
Central Bank, the European Union or the European Investment Bank, a non-EU member state or, in case of a federal
state, by one of the members making up the federation, or by a public international body to which one or more EU
member states belong, or
issued by an undertaking any securities of which are dealt in on regulated markets, or
issued or guaranteed by an establishment subject to prudential supervisions in accordance with criteria defined in EU law,
issued by other bodies belonging to categories approved by the Luxembourg supervisory authority provided that
investments in such instruments are subject to investor protection equivalent to that laid down in the first, the second or
the third indent and provided that the issuer is a company whose capital and reserves amount to at least ten million euro
(10,000,000 euro) and which presents and publishes its annual accounts in accordance with the fourth Directive
78/660/EEC, is an entity which, within a group of companies which includes one or several listed companies, is dedicated
to the financing of the group or is an entity which is dedicated to the financing of securitisation vehicles which benefit from
a banking liquidity line.
In addition, the Company may invest a maximum of 10% of the net asset value of any fund in transferable securities and
money market instruments other than those referred to under (i) to (vii) above.
B) Each fund may hold ancillary liquid assets. Liquid assets used to back-up financial derivative exposure are not considered as
ancillary liquid assets.
C) (i) Each fund may invest no more than 10% of its net asset value in transferable securities or money market instruments
issued by the same issuing body (and in the case of structured financial instruments embedding derivative instruments,
both the issuer of the structured financial instruments and the issuer of the underlying securities). Each fund may not
invest more than 20% of its net assets in deposits made with the same body. The risk exposure to a counterparty of a
fund in an OTC derivative transaction may not exceed 10% of its net assets when the counterparty is a credit institution
referred to in 1. A) (v) above or 5% of its net assets in other cases.
(ii) Furthermore, where any fund holds investments in transferable securities and money market instruments of any issuing
body which individually exceed 5% of the net asset value of such Fund, the total value of all such investments must not
account for more than 40% of the net asset value of such fund.
This limitation does not apply to deposits and OTC derivative transactions made with financial institutions subject to
prudential supervision.
Notwithstanding the individual limits laid down in paragraph C) (i), a fund may not combine:
investments in transferable securities or money market instruments issued by,

deposits made with, and/or
exposures arising from OTC derivative transactions undertaken with a single body in excess of 20% of its net assets.
(iii) The limit of 10% laid down in paragraph C) (i) above shall be 35% in respect of transferable securities or money market
instruments which are issued or guaranteed by an EU member state, its local authorities or by an eligible state or by
public international bodies of which one or more EU member states are members.
106
(iv) The limit of 10% laid down in paragraph C) (i) above shall be 25% in respect of debt securities which are issued by highly
rated credit institutions having their registered office in an EU member state and which are subject by law to a special
public supervision for the purpose of protecting the holders of such debt securities, provided that the amount resulting
from the issue of such debt securities are invested, pursuant to applicable provisions of the law, in assets which are
sufficient to cover the liabilities arising from such debt securities during the whole period of validity thereof and which are
assigned to the preferential repayment of capital and accrued interest in the case of a default by such issuer.
If a fund invests more than 5% of its assets in the debt securities referred to in the sub-paragraph above and issued by
one issuer, the total value of such investments may not exceed 80% of the value of the assets of such fund.
(iv) The transferable securities and money market instruments referred to in paragraphs C) (iii) and C) (iv) are not included in
the calculation of the limit of 40% referred to in paragraph C) (ii).
The limits set out in paragraphs C) (i), C) (ii), C) (iii) and C) (iv) above may not be aggregated and, accordingly, the value
of investments in transferable securities and money market instruments issued by the same body, in deposits or
derivative instruments made with this body, effected in accordance with paragraphs C) (i), C) (ii), C) (iii) and C) (iv) may
not, in any event, exceed a total of 35% of each funds net asset value.
Companies which are included in the same group for the purposes of consolidated accounts, as defined in accordance
with Directive 83/349/EEC or in accordance with recognised international accounting rules, are regarded as a single body
for the purpose of calculating the limits contained in this paragraph C).
A fund may cumulatively invest up to 20% of its net assets in transferable securities and money market instruments within
the same group.
(vi) Without prejudice to the limits laid down in paragraph D), the limits laid down in this paragraph C) shall be 20% for
investments in shares and/or bonds issued by the same body when the aim of a funds investment policy is to replicate
the composition of a certain stock or bond index which is recognised by the Luxembourg supervisory authority, provided:
the composition of the index is sufficiently diversified,

the index represents an adequate benchmark for the market to which it refers,
it is published in an appropriate manner.
The limit laid down in the subparagraph above is raised to 35% where it proves to be justified by exceptional market
conditions in particular in regulated markets where certain transferable securities or money market instruments are highly
dominant provided that investment up to 35% is only permitted for a single issuer.
(vii) Where any fund has invested in accordance with the principle of risk spreading in transferable securities or money market
instruments issued or guaranteed by an EU member state, by its local authorities or by an eligible state or by public
international bodies of which one or more EU member states are members, the company may invest 100% of the net
asset value of any fund in such securities provided that such Fund must hold securities from at least six different issues
and the value of securities from any one issue must not account for more than 30% of the net asset value of the fund.
Subject to having due regard to the principle of risk spreading, a fund need not comply with the limits set out in this
paragraph C) for a period of 6 months following the date of its authorisation and launch.
D) (i) The Company may not normally acquire shares carrying voting rights which would enable the Company to exercise
significant influence over the management of the issuing body.
(ii) The Company may acquire no more than (a) 10% of the non-voting shares of any single issuing body, (b) 10% of the
value of debt securities of any single issuing body, (c) 10% of the money market instruments of the same issuing body,
and/or (d) 25% of the units of the same collective investment undertaking. However, the limits laid down in (b), (c) and (d)
above may be disregarded at the time of acquisition if at that time the gross amount of the debt securities or of the money
market instruments or the net amount of securities in issue cannot be calculated.
The limits set out in paragraph D) (i) and (ii) above shall not apply to:
(i) transferable securities and money market instruments issued or guaranteed by an EU member state or its local
authorities;
(ii) transferable securities and money market instruments issued or guaranteed by any other eligible state;
(iii) transferable securities and money market instruments issued by public international bodies of which one or more EU
member states are members; or
(iv) shares held in the capital of a company incorporated in a non-EU member state which invests its assets mainly in the
securities of issuing bodies having their registered office in that state where, under the legislation of that state, such
holding represents the only way in which such funds assets may invest in the securities of the issuing bodies of that
state, provided, however, that such company in its investment policy complies with the limits laid down in Articles 43, 46
and 48 (1) and (2) of the Law of 20 December 2002.
E) No fund may invest more than 10% of its net assets in units of UCITS or other UCIs. In addition, the following limits shall
apply:
(i) When a fund invests in the units of other UCITS and/or other UCIs linked to the Company by common management or
control, or by a substantial direct or indirect holding of more than 10% of the capital or the voting rights, or managed by a
107
management company linked to the investment manager, no subscription or redemption fees may be charged to the
company on account of its investment in the units of such other UCITS and/or UCIs.
In respect of a funds investments in UCITS and other UCIs linked to the company as described in the preceding
paragraph, there shall be no management fee charged to that portion of the assets of any relevant Fund. The Company
will indicate in its annual report the total management fees charged both to the relevant fund and to the UCITS and other
UCIs in which such fund has invested during the relevant period.
(ii) The Company may acquire no more than 25% of the units of the same UCITS and/or other UCI. This limit may be
disregarded at the time of acquisition if at that time the gross amount of the units in issue cannot be calculated. In case of
a UCITS or other UCI with multiple sub-funds, this restriction is applicable by reference to all units issued by the
UCITS/UCI concerned, all sub-funds combined.
(iii) The underlying investments held by the UCITS or other UCIs in which the funds invest do not have to be considered for
the purpose of the investment restrictions set forth under 1. C) above.
2. Investment in other assets
A) The Company will neither make investments in precious metals or certificates representing these nor make investments into
commodities. In addition, the Company will not enter into financial derivative instruments on precious metals or commodities.
B) The Company will not purchase or sell real estate or any option, right or interest therein, provided the Company may invest in
securities secured by real estate or interests therein or issued by companies which invest in real estate or interests therein.
C) The Company may not carry out uncovered sales of transferable securities, money market instruments or other financial
instruments referred to in 1. A) (iv), (vi) and (vii).
D) The Company may not borrow for the account of any fund, other than amounts which do not in aggregate exceed 10% of the
net asset value of the fund, and then only as a temporary measure. For the purpose of this restriction back to back loans are
not considered to be borrowings.
E) The Company will not mortgage, pledge, hypothecate or otherwise encumber as security for indebtedness any securities held
for the account of any fund except as may be necessary in connection with the borrowings mentioned in D) above, and then
such mortgaging, pledging, or hypothecating may not exceed 10% of the net asset value of each fund. In connection with
swap transactions, option and forward exchange or futures transactions the deposit of securities or other assets in a separate
account shall not be considered a mortgage, pledge or hypothecation for this purpose.
F) The Company will not underwrite or sub-underwrite securities of other issuers.
G) The Company will on a fund by fund basis comply with such further restrictions as may be required by the regulatory
authorities in any country in which the Units are marketed.
3. Derivatives, techniques and other instruments
As specified in 1A)(iv) above, the Company may in respect of each fund invest in financial derivative instruments.
The Company shall ensure that the global exposure of each fund relating to derivative instruments does not exceed the total net
assets of that fund. The funds overall risk exposure shall consequently not exceed 200% of its total net assets. In addition, this
overall risk exposure may not be increased by more than 10% by means of temporary borrowings (as referred to in 2(D) above) so
that it may not exceed 210% of any funds total net assets under any circumstances.
The global exposure relating to financial derivative instruments is calculated taking into account the current value of the underlying
assets, the counterparty risk, foreseeable market movements and the time available to liquidate the positions. This shall also apply
to the following subparagraphs.
Each fund may invest, as a part of its investment policy and within the limits laid down in 1.A)(iv) and 1. C) (v), in financial derivative
instruments provided that the exposure to the underlying assets does not exceed in aggregate the investment limits laid down in
restrictions 1. C) (i) to (vii). When a fund invests in index-based financial derivative instruments compliant with the provisions of
1.C)(i) to (vii), these investments do not have to be combined with the limits laid down in restriction 1. C). When a transferable
security or money market instrument embeds a derivative, the latter must be taken into account when complying with the
requirements of this restriction. The funds may use financial derivative instruments for investment purposes and for hedging
purposes within the limits of the Law of 20 December 2002. Under no circumstances shall the use of these instruments and
techniques cause a fund to diverge from its investment policy or objective. The risks against which the funds could be hedged may
be, for instance, market risk, foreign exchange risk, interest rates risk, credit risk, volatility or inflation risks.
Unless specified in the funds investment objective, the market risk exposure will be calculated using a commitment approach.
Funds applying a Value-at-Risk (VaR) approach to calculate their global exposure will contain an indication thereto. VaR reports will
be produced and monitored on a daily basis based on the following criteria:
one month holding period;

99% unilateral confidence interval;
at least one year effective historical observation period (250 days) unless market conditions require a shorter observation
period; and
parameters used in the model are updated at least quarterly.
Stress testing will also be applied at a minimum of once per month.
108
4. Use of techniques and instruments relating to transferable securities and money market instruments
Techniques and instruments (including, but not limited to, securities lending or repurchase agreements) relating to transferable
securities and money market instruments may be used by each fund for the purpose of efficient portfolio management.
To the extent permitted by and within the limits prescribed by the 2002 Law as well as any present or future related Luxembourg
laws or implementing regulations, circulars and CSSFs positions (the Regulations) and in particular the CSSF Circular 08/356
relating to the use of financial techniques and instruments, each fund may for the purpose of generating additional capital or income
or for reducing its costs or risks, enter as purchaser or seller into optional or non-optional repurchase transactions and engage in
securities lending transactions.
In respect of repurchase transactions, the fund will obtain from its counterparty collateral of a type and market value sufficient to
satisfy the requirements of the Regulations.
In respect of securities loans, the fund will ensure that its counterparty delivers and each day maintains the collateral of at least the
market value of the securities lent. Such collateral must be in the form of cash or securities that satisfy the requirements of the
Regulations.
A fund, within the limits provided by the Regulations and in particular CSSF Circular 08/356 referred to above, may reinvest the
cash it receives as collateral against a repurchase transactions or a securities loan in (a) shares or units issued by money market
undertakings for collective investment calculating a daily net asset value and being assigned a rating of AAA or its equivalent, (b)
short-term bank deposits, (c) money market instruments permitted by the Regulations, (d) short-term bonds issued or guaranteed
by the governments, local authorities or supranational institutionals and undertakings of the United States, member states of the
EU, Australia, Canada, Finland, Japan, Norway, Sweden or Switzerland, (e) bonds issued or guaranteed by first class issuers
offering an adequate liquidity, and (f) reverse repurchase agreement transactions, provided that such reverse repurchase
transactions must themselves be fully and continuously collateralised by securities issued or guaranteed by the governments, local
authorities or supranational institutions and undertakings of the United States, the EU, Australia, Canada, Finland, Japan, Norway,
Sweden or Switzerland. Such reinvestment will be taken into account for the calculation of each concerned funds global exposure
if required.
5. Risk management process
The Company will employ a risk management process which enables it with the investment manager to monitor and measure at
any time the risk of the positions and their contribution to the overall risk profile of each fund. The Company or the investment
manager will employ, if applicable, a process for accurate and independent assessment of the value of any OTC derivative
instruments.
Upon request of an investor, the management company will provide supplementary information relating to the quantitative limits that
apply in the risk management of each fund, to the methods chosen to this end and to the recent evolution of the risks and yields of
main categories of instruments. This supplementary information includes the VaR levels set for the funds using such risk measure.
The risk management framework is available upon request from the Companys registered office.
6. Miscellaneous
A) The Company may not make loans to other persons or act as a guarantor on behalf of third parties provided that for the
purpose of this restriction the making of bank deposits and the acquisition of such securities referred to in paragraph 1. A) (i),
(ii) and (iii) or of ancillary liquid assets shall not be deemed to be the making of a loan and that the Company shall not be
prevented from acquiring such securities above which are not fully paid.
B) The Company need not comply with the investment limit percentages when exercising subscription rights attached to
securities which form part of its assets.
C) Funds registered in Taiwan are restricted in the percentage of the Fund that can be invested in securities traded on the
security markets of the Peoples Republic of China. These limits may be amended from time to time by the Financial
Supervisory Commission in Taiwan.
D) The Management Company, the Investment Managers, the Distributors, Custodian and any authorised agents or their
associates, may have dealings in the assets of the company provided that any such transactions are effected on normal
commercial terms negotiated at arms length and provided that each such transaction complies with any of the following:
(i) a certified valuation of such transaction is provided by a person approved by the Directors as independent and competent;
(ii) the transaction has been executed on best terms, on and under the rules of an organised investment exchange;
or where neither (i) or (ii) is practical;
(iii) where the Directors are satisfied that the transaction has been executed on normal commercial terms negotiated at arms
length.
109
CIMB-Principal Lifecycle Funds is a series of three (3) conventional open-ended funds with differing maturity periods that match
your investment plan. The Funds are:
(i) CIMB-Principal Lifecycle Fund 2017

(ii) CIMB-Principal Lifecycle Fund 2022
(iii) CIMB-Principal Lifecycle Fund 2027
Each Fund has its own investment objective, time horizon and recommended asset allocation.
The Fund is designed to extract best growth potentials by investing a greater proportion of the investment portfolio into risky assets
(such as equities) at the onset of the Funds life. This is expected to match investors ability to accept greater risk during the early
stages of their investment. As the Fund approaches maturity, the Fund will become increasingly conservative by reducing risky
asset composition and investing a greater proportion into more conservative assets such as bonds. This is reflective of investors
decreasing risk appetite as they prepare to drawdown their investment to meet their goals.
When selecting the Fund to meet your investment requirement, you are advised to consider the anticipated time you have prior to
the investment drawdown. Investors should choose a Fund whose stated maturity year is prior to their investment drawdown
requirement.
It is important to note that the target year of the Fund you select should not necessarily represent the specific year you
intend to draw your investments. This serves only as a guide. You should also realise that the Funds are not a complete
solution to your cash flow needs. You must weigh many factors such as retirement needs and lifestyle needs. When in
doubt, please consult your financial advisor.
CIMB-Principal Lifecycle 2017

The Fund aims to provide investors with capital growth through a well-diversified and evolving asset allocation.


Benchmark
The benchmark changes every five (5) years from the commencement date of the Fund, i.e. 10 August 2007 in accordance with the
change in asset allocation of each Fund. The benchmark will be a combination of the following:
Rate/ Index Source

Quant shop MGS All Bond Index http://www.quantshop.com
FTSE Bursa Malaysia Top 100 Index http://www.bursamalaysia.com
FTSE All-World Index http://www.ftse.com/Indices/index.jsp
Alternatively, the information on the benchmark is available on http://www.cimb-principal.com.my and Bloomberg L.P.
2012
Rate/ Index Current
until maturity
Quant shop MGS All Bond Index 35% 45%
FTSE Bursa Malaysia Top 100 Index 30% 25%
FTSE All-World Index 35% 30%
Currently, it will remain as Quant shop MGS All Bond Index (35%) + FTSE Bursa Malaysia Top 100 Index (30%) + FTSE All-World
Index (35%).
In two (2) years time, i.e. 2012, it will be Quant shop MGS All Bond Index (45%) + FTSE Bursa Malaysia Top 100 Index (25%) +
FTSE All-World Index (30%).
110
2012 2017
Rate/ Index Current
until maturity
Quant shop MGS All Bond Index 30% 35% 45%
FTSE Bursa Malaysia 100 Index 30% 30% 25%
FTSE All-World Index 40% 35% 30%
Index (40%).
In seven (7) years time, i.e. 2017, it will be Quant shop MGS All Bond Index (45%) + FTSE Bursa Malaysia Top 100 Index (25%) +
2022
Rate/ Index Current 2012 2017
until maturity
Quant shop MGS All Bond Index 25% 30% 35% 45%
FTSE Bursa Malaysia 100 Index 30% 30% 30% 25%
FTSE All-World Index 45% 40% 35% 30%
Index (45%).
In seven (7) years time, i.e. 2017, it will be Quant shop MGS All Bond Index (35%) + FTSE Bursa Malaysia Top 100 Index (30%) +
In twelve (12) years time, i.e. 2022, it will be Quant shop MGS All Bond Index (45%) + FTSE Bursa Malaysia Top 100 Index (25%)
+ FTSE All-World Index (30%).
Note: The benchmark weightings may change if the Manager deems the set weightings no longer reflect the Funds
asset allocation.
General
Each Fund will invest its assets into a well-diversified portfolio comprising the following asset classes:
Liquid assets;
Local bonds;
Foreign bonds;
Local equities;
Developed markets equities
Emerging markets equities; and
Local/foreign REITs.
Each Fund seeks to achieve its investment objective by investing in different combinations of the asset classes and the asset
allocation will change over time. The allocations into the asset classes differ from one Fund to another depending upon the
investment tenure of the Fund. At the onset of each Fund, a greater proportion of the Funds NAV will be invested into risky assets
such as equities. As the Fund approaches its maturity, allocation to less risky assets such as bonds will increase.
allocation decision is made after a review of macroeconomic trends in Malaysia and other global economies. In particular, the
Manager analyzes the direction of GDP growth, interest rates, inflation, currencies and government policies. The Manager will then
assess their impact on corporate earnings and determine if there are any predictable trends. These trends form the basis for sector
selection. Stock selection is based on the growth style of equity investing. As such, the criteria for stock selection would include
improving fundamentals and growth at reasonable valuations. Stock valuation fundamentals considered are earnings per share
growth rate, return on equity, price earnings ratio and net tangible assets multiples.
In particular, the Manager will adopt an active investment strategy to invest in the appropriate asset classes based on the efficient
portfolio approach within the target asset allocation (as set out in the section below), taking into account the changing investment
conditions. An efficient portfolio is a portfolio that provides the greatest expected return for a given level of risk, or equivalently, the
lowest risk for a given expected return. In addition to this, the Manager will also adopt a rebalancing discipline throughout the life of
the Fund to keep the portfolio within the target asset allocation limits.
111
The local bonds and foreign bonds portion can be actively traded based on the outlook of the economy, interest rates, the shape of
the future yield curve, relative valuations as well as technical factors such as liquidity. The minimum credit ratings requirements will
be at least BBB3 and P2 by RAM or equivalent rating by MARC; BB1 by Moodys and/or BB by S&P or Fitch. The Manager
will consider the level of duration risk to be taken to obtain the best returns for the level of risk taken.
Each Fund will also invest into equities listed on local and/or selected global stock markets (which include developed and emerging
markets) as well as REITs. The Manager may opt to invest in these securities either directly or via collective investment schemes.
In evaluating the suitability of a CIS for investment, the Manager will conduct a review of the track record of the manager and the
CIS, investment objective of the CIS, investment policy and strategies, fund performance and other factors deemed important by
the Manager. The CIS shall be registered with recognized exchanges and/or authorities including, but not limited to, the following
countries: Malaysia, Ireland, Luxembourg, Hong Kong, Singapore, Australia, Japan, the United States and the United Kingdom. In
identifying companies for selection, the Manager looks into both fundamental and valuation analysis, which include the
management quality, products and services, industry position, current financial condition, earnings prospects and valuation
attractiveness.
Asset Allocation
The asset allocation will gradually become more conservative as it approaches the maturity of each Fund, which is indicated in the
Funds name. The asset allocation for each Funds investments is as follows:
Based on % of NAV of the Fund

Current Asset allocation in Asset allocation in Asset allocation in
asset allocation 2012 2017 2022
Liquid assets 0-5 0-5
Local bonds 5-25 10-30
Foreign bonds 5-25 10-30
Local equities 20-35 15-35
Developed equities 15-30 10-25
Emerging equities 0-10 0-10
Local/foreign REITs 0-10 0-15
Liquid assets 0-5 0-5 0-5
Local bonds 5-15 5-25 10-30
Foreign bonds 5-20 5-25 10-30
Local equities 20-35 20-35 15-35
Developed equities 20-35 15-30 10-25
Emerging equities 0-15 0-10 0-10
Local/foreign REITs 0-10 0-10 0-15
Liquid assets 0-5 0-5 0-5 0-5
Local bonds 5-15 5-15 5-25 10-30
Foreign bonds 5-15 5-20 5-25 10-30
Local equities 20-40 20-35 20-35 15-35
Developed equities 20-40 20-35 15-30 10-25
Emerging equities 0-20 0-15 0-10 0-10
Local/foreign REITs 0-10 0-10 0-10 0-15
The Manager may modify the target asset allocation for each Fund. From time to time, the Fund may adjust its investments within
set limits based on the Managers outlook for the economy, financial markets generally and relative market valuation of the asset
classes. Additionally, the Fund may deviate from the set limits when, in the Managers opinion, it is necessary to do so to pursue
the Funds investment objective. However, the amounts it allocates to each asset class will generally vary only within 10% of the
ranges specified in the charts above.
Review and rebalancing discipline
Monitoring the Funds investments is a continuous process that requires the Manager to evaluate events and trends affecting the
prospects of asset class holdings and their suitability for attaining the investment objective. Changes in asset values over time may
also create unintended divergences from the target asset allocation. These lead to the need to review and rebalance the Funds
investments to ensure the investment objective is achieved.
The term rebalancing means adjusting the actual portfolio to the target asset allocation. For example, if the target proportion for the
local equities portion is 20% to 35% of the Funds NAV, trigger points will be at 20% and 35% of the Funds NAV. Suppose the
Manager observes the actual allocation to be 43%, the upper threshold (35%) has been breached. The Manager will then decide
whether to rebalance the portfolio to its target weights, i.e. between 20% to 35% of the Funds NAV.
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For the purpose of these Funds, the review of the asset allocation is done on an annual basis after the commencement date of the
Fund i.e. 10 August 2007. The review on these intervals aims to keep the portfolio within the target asset allocation. The Manager
will then decide whether to rebalance the portfolio to target weights, taking into consideration the market expectation, benefits and
cost of rebalancing.
Funds Termination on Maturity Date
The Fund will be automatically terminated on its Maturity Date as follows:
CIMB-Principal Lifecycle 2017 CIMB-Principal Lifecycle 2022 CIMB-Principal Lifecycle 2027
The 10th anniversary of the The 15th anniversary of the The 20th anniversary of the
commencement date of the Fund, i.e. 10 commencement date of the Fund, i.e. 10 commencement date of the Fund, i.e. 10
August 2017. August 2022. August 2027.
Investors will have the option to switch their monies into any of the CIMB-Principal funds without charges or to withdraw their
investments. However investors are encouraged to reinvest their monies into CIMB-Principal range of bond funds. For further
details please refer to page 180.
Risk management strategy
The Fund is constructed and managed within pre-determined guidelines. The risk management strategies and techniques
employed by the Manager include diversification of the Funds asset allocation in terms of its exposure to various asset classes,
sectors and countries.
Temporary defensive positions
The Manager may take a temporary defensive position when it believes the markets or the economies are experiencing excessive
volatility, a prolonged general decline or when other adverse conditions may exist. Under these circumstances, the Fund may be
unable to pursue its investment goal. In response to such adverse conditions, CIMB-Principal may reduce the proportion of higher
risk assets, such as equities and increase the allocation of assets to lower risk assets, such as debentures and liquid assets, to
temporarily reduce the market exposure. When deemed necessary, the Manager may also utilize derivative instruments, subject to
the SC Guidelines for purposes such as hedging.
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The Fund aims to achieve a total return through investments primarily in shares of companies domiciled or having significant
operations, and listed in the Middle Eastern and North African countries.
Benchmark
The performance benchmark of this Fund is ten per cent (10%) growth in NAV per annum. This is not a guaranteed return and is
only a measurement of the Funds performance. The Fund may not achieve the ten percent (10%) per annum growth rate in any
particular financial year but targets to achieve this growth over the medium to long term.
The Fund is a Feeder Fund that invests at least 95% of the Funds NAV in the Ocean Fund/Equities MENA Opportunities (the
Target Fund), a Luxembourg-domiciled fund which invests primarily in shares of companies domiciled or having significant
operations, and listed in the MENA countries. Information on the Ocean Fund/Equities MENA Opportunities is detailed below.
at least 95% of the Funds NAV will be invested in the Ocean Fund/Equities MENA Opportunities; and
This Target Fund seeks a total return through investments primarily in shares of companies domiciled in or having significant
operations in, and listed on a regulated market in the Middle Eastern and North African ("MENA") countries, including Egypt,
Jordan, Lebanon, Oman, Qatar, Kuwait, Bahrain, Saudi Arabia, United Arab Emirates, Tunisia, Morocco, and other markets of the
region. As the Target Fund invests only in the equity markets of the MENA region, the investment risk is expected to be higher than
a globally diversified fund. Nevertheless, the Target Funds highly disciplined portfolio constructions used will serve to ensure that
investment risk levels are appropriate.
If, in the opinion of the Manager, the Ocean Fund/MENA Opportunities no longer meets the Funds investment objective, and/or
when acting in the best interests of Unit holders, CIMB-Principal may replace the Ocean Fund/MENA Opportunities with another
Target Fund that is consistent with the objective of this Fund, subject to the approval of the Unit holders. The switch to another
Target Fund may be performed on a staggered basis to facilitate a smooth transition. This is applicable should the Ocean
Fund/MENA Opportunities impose any conditions in relation to redemption of units or if the manager of the newly identified Target
Fund exercises its discretion to apply an Anti Dilution Levy* in relation to applications for units. Thus, the time frame required to
perform the transition will depend on such conditions, if any, imposed by the Ocean Fund/MENA Opportunities as well as any
conditions associated with an Anti Dilution Levy that may be charged at the newly identified Target Fund level. Hence during the
transition period, the Funds investment may differ from the stipulated investment strategies.
costs.
About Ocean Fund/Equities MENA Opportunities

Ocean Fund (the Company) is registered in the Grand Duchy of Luxembourg as an undertaking for collective investment (a UCI)
under the form of an investment company with variable share capital (SICAV). The Company is listed on the official list of
Undertakings for Collective Investment and is governed by the provisions of Part II of the Luxembourg Law of December 20, 2002
relating to undertakings for collective investment as may be amended from time to time (the 2002 Law). The Company is an
umbrella fund divided into multiple Sub-Funds, each representing a separate portfolio of assets. Ocean Fund/Equities MENA
Opportunities is one of the said Sub-Funds.
The Board of Directors (BOD) has designated under its responsibility and control SGAM Luxembourg S.A. to act as Management
Company of the Company under Chapter 13 of the 2002 Law. The Management Company has been incorporated on 10 November
2004 for an unlimited period. Its registered office is established in Luxembourg.
The Management Company has been appointed pursuant to a main delegation agreement concluded between the Management
Company and the Company as may be amended from time to time. The Management Companys main object is the management,
the administration and the marketing or the monitoring of the marketing of UCITs as well as UCIs. The Management Company shall
be in charge of the management and the administration of the Company and the monitoring of the distribution of Shares in
Luxembourg and abroad.
Pursuant to an investment management agreement between the Management Company and the Investment Manager (the
Investment Management Agreement), the Management Company has appointed under its control and responsibility the
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Investment Manager to assist it in the context of the day to day general management of the Companys investments and to manage
the investments of the Sub-Funds. Subject to the terms and conditions of the Investment Management Agreement, the
Management Company has delegated to the Investment Manager the power to appoint the Sub-Investment Managers in order to
manage the investments of certain Sub-Funds.
The Investment Manager may appoint under its control and responsibility certain Sub-Investment Managers pursuant to sub-
investment agreements (each as Sub-Investment Agreement).
At the date of the present Prospectus, the Investment Manager has appointed GLG Partners UK Ltd (GLG UK) to manage the
Sub-Funds Ocean Fund/Equities MENA Opportunities.
GLG UK was formerly known as Socit Gnrale Asset Management UK.
About GLG Partners Inc (GLG Partners)
GLG Partners Inc is a NYSE-listed, US public company with operations in London, New York and the Cayman Islands. Founded in
1995, GLG Partners is a multi-strategy asset manager with over US$22.2 billion in net AUM as of 31 December 2009.
Ocean Fund/Equities MENA Opportunities was launched on 25 June 2007 and has a fund size of USD260 million as at end of
February 2010.
Fund Details
Ocean Fund/Equities MENA Opportunities (the Target Fund) seeks a total return through investment primarily in shares of
companies domiciled in or having significant operations in, and listed on a regulated market in the Middle Eastern and North African
("MENA") countries, including Egypt, Jordan, Lebanon, Oman, Qatar, Kuwait, Bahrain, Saudi Arabia, United Arab Emirates,
Tunisia, Morocco, and other markets of the region. The Target Fund is denominated in USD.
The Target Fund may also invest:
in depositary receipts, such as ADRs and GDRs and is not bound by any sector restrictions;
up to 10% of its net assets in swap transactions; and
listed Participatory Notes (P-Notes) such as low strike price warrants, equity-linked swaps, equity-linked notes. These products
have equities listed on the MENA markets as underlying assets. The purpose of investing in P-Notes is to have access to all
parts of this market and their Transferable Securities (equities).
Benchmark
The Ocean Equities MENA Opportunities is run using a total return strategy and there is no benchmark involved.
Investment strategies
The Target Fund seeks a total return through investment primarily in shares of companies domiciled in or having significant
operations in, and listed on a Regulated Market in the Middle Eastern and North African ("MENA") countries, including Egypt,
Jordan, Lebanon, Oman, Qatar, Kuwait, Bahrain, Saudi Arabia, United Arab Emirates, Tunisia, Morocco, and other markets of the
region.
The investment approach of Fund management team at GLG UK is to capitalize on the opportunities presented by the particular
features of the Middle East and North Africa markets. GLG UK will look for under valued stocks and naturally favour value over
growth, as, in their experience, attractively valued stocks have better risk adjusted returns over the long term. Growth stocks would
not be excluded from the portfolio, but would be viewed in a value context best described as Growth at a Reasonable Price
(GARP).
Since these markets are often inefficient and companies are poorly researched, much of the work to unearth value opportunities
relies on visits to companies. GLG UK can then make their own judgement about the outlook for the company; and can stress test
analyst assumptions and forecasts, or produce their own. This then allows them to identify where there may be value anomalies.
Once there is a view of the companys outlook and expected earnings profile GLG UK can place the company in a valuation context
relative to regional and global peers. GLG UK also uses different valuation techniques based on the industry the company operates
in.
The investment philosophy of GLG UK in relation to the Ocean Equities MENA Opportunities is to identify companies that can
benefit from the prevailing economic conditions and where they are of the opinion that future developments are not reflected in the
current share price. Having built up an in-depth knowledge of companies, company visits are an essential part of the investment
process. GLG UK places significant emphasis on the quality of management and success of strategy.
Given that the fund does not use an index as a benchmark, the Fund is managed on an unconstrained total return basis, i.e. GLG
UK can select stocks which they believe have investment opportunities that can deliver positive returns without considering the
exposure of a particular country or sector reference to an index. However, at the individual stock level, there is a 10% maximum
exposure limit.
The BOD shall, based upon the principle of risk spreading, have power to determine the corporate and investment policy for the
investments for the Target Fund, the reference currency of the Target Fund and the course of conduct of the management and
business affairs of the Company. The assets of the Target Fund must be invested in accordance with the restrictions on
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investments set out in Part II of the 2002 Law and such additional restrictions, if any, as may be adopted from time to time by the
directors.
A) In respect of the Company's investment in transferable securities, money market instruments, other fixed-income instruments:
The Target Fund may invest in transferable securities (shares, bonds and warrants on transferable securities) and in money market
instruments, provided that it shall not:
a) invest more than 10% of its net assets in transferable securities and money market instruments which are not listed on a stock
exchange nor traded on another regulated market i.e. a regulated market which operates regularly and is recognised and open
to the public;
b) invest more than 10% of its net assets in transferable securities and money market instruments issued by the same issuing
body.
The Company may acquire no more than 10% of the transferable securities and money market instruments of the same kind issued
by the same issuing body;
The restrictions mentioned under a) and b) are not applicable to securities issued or guaranteed by Member States of the
Organisation for Economic Co-operation and Development (OECD) being Financial Action Task Force (FATF) member or their
local authorities or public international bodies with European Union, regional or worldwide scope but the Target Fund must hold
securities originating from at least 6 issues, and the securities of any one issue may not exceed 30% of the Target Fund's net asset
value.
Also, the Target Fund may invest up to 20% in cash deposits with one single entity. By one single entity, it must be considered all
companies whose accounting balance sheets are consolidated according to the European Directive 83/349/CEE or according to the
international accounting rules.
The Target Fund may invest in other open-ended and/or closed-ended UCIs.
1) Investments in other open-ended UCIs shall only be possible under the following conditions:
(a) the Target Fund may not invest more than 10% of its net assets in shares or units issued by the same UCI;
(b) the Company may acquire up to 10% of the units or shares of the same UCI.
The above restrictions under (a) and (b) will not apply to investments in open-ended UCIs subject to risk diversification rules similar
to those provided for in respect of Luxembourg UCIs governed by Part I or Part II of the law of December 20, 2002 as may be
amended from time to time, (exclusively UCIs domiciled in a country member of the European Union, Switzerland, Japan, Canada,
United States of America, Hong-Kong) provided that such UCIs are submitted in their state of origin to a permanent control carried
out by a regulatory set up by law in order to ensure the protection of investors. Such derogation may not, at any time, results in an
excessive concentration of investment in anyone UCI provided that for the purpose of this limitation, each compartment of a target
UCI with multiple compartments is to be considered as a distinct target UCI on the condition that the principle of segregation of the
commitments of the different compartments towards third parties is ensured.
2) Investments in closed-ended UCIs shall only be possible under the following conditions:
(a) the Target Fund may not invest more than 10% of its net assets in units or shares of UCIs not listed on a stock exchange
or not dealt on another regulated market operating regularly, recognised and open to the public (a Regulated Market);
(b) the Target Fund may not invest more than 10% of its net assets in units or shares issued by the same UCI. The company
may not acquire more than 10% of the units or shares of the same kind issued by a single UCI.
The Target Fund may invest in UCIs promoted by the Group Socit Gnrale and as a consequence thereof the Shareholders will
incur a duplication of fees and of commissions (like management fees) but no entrance and redemption fees will be levied for these
investments.
B) Borrowings
The Target Fund may borrow up to a maximum of 25% of its net assets, without restriction as to the use which is made thereof.
C) Short Selling
Short Selling shall be submitted to the following constraints:
A.1. Short sales may, in principle, not result in the UCI holding:
a) a short position on transferable securities which are not admitted to official stock exchange listing or dealt in on another
regulated market, which operates regularly and is recognised and open to the public. However the UCI may hold short
positions on transferable securities which are not quoted or not dealt in on a regulated market if such securities are highly
liquid and do not represent more than 10% of the assets of the UCI;
b) a short position on transferable securities which represent more than 10% of the securities of the same type issued by the
same issuer;
c) a short position on transferable securities of the same issuer, (i) if the sum of the prices at which the short sales have been
carried out represents more than 10% of the assets of the UCI or (ii) if the short position represents a commitment exceeding
5% of the assets.
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A.2. The commitments arising from short sales on transferable securities at a given time correspond to the cumulative non-realised
losses resulting, at that time, from the short sales made by the UCI. The non-realised loss resulting from a short sale is the positive
amount resulting from the difference between the market price at which the short position can be covered and the price at which the
relevant transferable security has been sold short.
A.3. The aggregate commitments of the UCI resulting from short sales may at no time exceed 50% of the assets of the UCI. If the
UCI enters into short sales transactions, it must hold sufficient assets enabling it at any time to close the open positions resulting
from such short sales.
A.4. The short sales of transferable securities for which the UCI holds adequate coverage are not to be considered in the
calculation of the total commitments referred to above. For the avoidance of doubt, it is to be noted that the fact for a UCI to grant a
security, of whatever nature, on its assets to third parties in order to secure its obligations towards such third parties, is not to be
considered as adequate coverage for the UCI's commitments.
A.5. In connection with short sales on transferable securities, UCIs are authorized to enter, as borrower, into securities lending
transactions with first class professionals specialised in this type of transactions. The counterparty risk resulting from the difference
between (i) the value of the assets transferred by a UCI to a lender as security in the context of the securities lending transactions
and (ii) the debt of the UCI owed to such lender may not exceed 20% of the assets of the UCI. For the avoidance of doubt, it is to
be noted that UCIs may, in addition, give security by using security arrangements which do not result in a transfer of ownership or
which limit the counterparty risk by other means.
D) Pledge of assets
The Company will never give for any reason its assets in pledge to any third party.
Specific Investment Restrictions
The Target Fund is subject to the following specific investment restrictions:

The Target Fund may borrow in the short term up to a maximum of 10% of its net assets without restriction as to the use which
is made thereof.
The Target Fund may acquire units/shares of other UCITS and/or other UCIs provided that no more than 10% of such Sub-
Funds Net Assets be invested in aggregate in units/shares of such other UCITS or other UCIs.
The Target Fund may not acquire most of the voting rights of a same company such as it would interfere on the companys
management.
Short selling is limited to maximum 50% of the Net Asset Value of the Sub-Fund.
The assets of this Target Fund will not be leveraged.
In case of conflict between the investment restrictions stated under the heading Investment restriction and those stated in this
section, the above limits will prevail.
Investment techniques
1. Techniques and instruments relating to transferable securities
Subject to any and all limitations set out in their respective investment policies, the Target Fund may use the following techniques
and instruments for the purpose of efficient portfolio management.
For the purpose of efficient portfolio management, the Target Fund may undertake transactions relating to financial futures, (i.e.
interest rate, currency, stock index and futures on transferable securities), warrants and options contracts traded on a regulated
market. Alternatively, the Target Fund may undertake, for hedging purposes only, transactions relating to over the counter (OTC)
options, swaps and swaptions with highly rated financial institutions specialising in this type of transaction and participating
actively in the relevant OTC market.
(a) Options on transferable securities

The Target Fund may buy and sell put and call options on transferable securities. At the conclusion as well as during the
existence of contracts for the sale of call options on securities, a Target Fund will hold either the underlying securities,
matching call options, or other instruments (such as warrants) that provide sufficient coverage of the commitments resulting
from these transactions. The underlying securities related to written call options may not be disposed of as long as these
options are outstanding unless such options are covered by matching options or by other instruments that can be used for
that purpose. The same applies to equivalent call options or other instruments which the Target Fund must hold where it
does not have the underlying securities at the time of the writing of such options.
The Target Fund may not write uncovered call options on transferable securities. As a derogation from this rule, the Target
Fund may write call options on securities that it does not hold at inception of the transaction, if the aggregate exercise price
of such uncovered written call options does not exceed 25% of the Net Assets of the Target Fund and the Target Fund is, at
any time, in a position to cover the open position resulting from such transactions.
Where a put option is sold, the Target Funds corresponding portfolio must be covered for the full duration of the contract by
adequate liquid assets that would meet the exercise value of the contract, should the option be exercised by the counterpart.
(b) Hedging through stock market index futures, warrants and options
As a global hedge against the risk of unfavourable stock market movements, the Target Fund may sell futures contracts on
stock market indices, and may also sell call options, buy put options or transact in warrants on stock market indices,
provided there is sufficient correlation between the composition of the index used and the Target Funds corresponding
portfolio. The total commitment resulting from such futures, warrants and option contracts on stock market indices may not
exceed the global valuation of securities held by the relevant Target Funds corresponding portfolio in the market
corresponding to each index.
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(c) Hedging through interest rate futures, options, warrants, swaps and swaptions
As a global hedge against interest rate fluctuations, a fund may sell interest rate futures contracts and may also sell call
options, buy put options or transact in warrants on interest rates or enter into OTC interest rates swaps or swaptions with
highly rated financial institutions specialising in this type of instruments. The total commitment resulting from such futures,
swaps, swaptions, warrants and option contracts on interest rates may not exceed the total market value of the assets to be
hedged held by funds in the currency corresponding to these contracts.
(d) Futures, warrants, swaps and options on other financial instruments for a purpose other than hedging
As a measure towards achieving a fully invested portfolio and retaining sufficient liquidity, a fund may buy or sell futures,
warrants, swaps and options contracts on financial instruments (other than transferable securities or currency contracts),
such as instruments based on stock market indices and interest rates, provided that these are in line with the stated
investment objective and policy of the corresponding fund and the total commitment arising from these transactions together
with the total commitment arising from the sale of call and put options on transferable securities at no time exceeds the Net
Asset Value of the relevant fund.
With regard to the total commitment referred to in the preceding paragraph, the call options written by the Target Fund on
transferable securities for which it has adequate cover do not enter in the calculation of the total commitment. The
commitment relating to transactions other than options on transferable securities shall be defined as follows:
the commitment arising from futures contracts is deemed equal to the value of the underlying net positions payable on
those contracts which relate to identical financial instruments (after setting off all sale positions against purchase
positions), without taking into account the respective maturity dates, and
the commitment deriving from options purchased and written as well as warrants purchased and sold is equal to the
aggregate of the exercise (striking) prices of net uncovered sales positions which relate to single underlying assets
without taking into account respective maturity dates.
The aggregate acquisition prices (in terms of premiums paid) of all options on transferable securities purchased by the
Target Fund together with options acquired for purposes other than hedging (see above) may not exceed 15% of the Net
Assets of the Target Fund.
The Target Fund may also buy and sell futures on transferable securities. The limits applicable to this investment are the
ones described above under the point 1) Techniques and Instruments relating to transferable securities.
(e) Securities Lending
The Target Fund may enter into securities lending and borrowing transactions provided that:
The Target Fund may only lend securities included in its portfolio to a borrower either directly or through a standardized
lending system organized by a recognized clearing institution or through a lending system organised by a financial institution
subject to a prudent supervision rules considered by the Security Authority of Luxembourg as equivalent to those prescribed
by Community Law and specializing in this type of transactions.
In all cases, the counterparty to the securities lending agreement (i.e. the borrower) must be subject to prudential
supervision rules considered by the Supervisory Authority of Luxembourg as equivalent to those prescribed by Community
Law. In case the aforementioned financial institution acts on its own account, it is as to be considered as counterparty in the
securities lending agreement.
The risk exposure to a single counterparty of the UCITS arising from one or more securities lending transactions, sale with
right of repurchase transaction and/or reverse repurchase / repurchase transactions may not exceed 10% of its assets when
the counterparty is a credit institution referred to in article 41, paragraph (1) (f) of the 2002 Law or 5% of its assets in other
cases.
As part of lending transactions, the Target Fund must in principle receive a guarantee, the value of which at any time must
be at least equal to the total value of the securities lent.
This guarantee must be given in the form of (a) liquid assets, (b) securities issued or guaranteed by a member state of the
OECD, their local authorities or by supranational institutions and undertakings of a community, regional or world-wide nature
and held in escrow in the name of the Target Fund until the expiry of the loan contract or (c) shares listed on a stock
exchange of a member state and having the highest rating, which are registered on an account opened in the name of the
Fund for the Target Fund until the expiry of the loan contract, or any combination thereof or (d) a guarantee of a highly rated
financial institution registered in favor of the Target Fund until the expiry date of the loan contract.
Cash received as guarantee may be reinvested in liquid assets authorized under Luxembourg law, such as money market
instruments rated at least AAA (or its equivalent) or reverse repurchase agreements with counterparties rated at least AAA
(or its equivalent) or, if such counterparties are not rated, whose parent companies are rated at least AAA (or its equivalent).
Such a guarantee shall not be required if the securities lending is made through clearstream banking or EUROCLEAR or
through any other organization assuring to the lender a reimbursement of the value of the securities lent, by way of a
guarantee or otherwise.
Lending transactions may not exceed 50% of the global valuation of the securities portfolio of the Target Fund. Securities
lending and borrowing transactions may not extend beyond a period of 30 days. These limitations do not apply to securities
lending transactions where the Target Fund is entitled at all times to the cancellation of the contract and the restitution of the
securities lent.
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The securities borrowed by the Target Fund may not be disposed of during the time they are held by the Target Fund,
unless they are covered by sufficient financial instruments which enable the Target Fund to restitute the borrowed securities
at the close of the transaction.
Borrowing transactions may not exceed 50% of the global valuation of the securities portfolio of the Target Fund.
The Target Fund may borrow securities under the following circumstances in connection with the settlement of a sale
transaction: (a) during a period the securities have been sent out for re-registration; (b) when the securities have been
loaned and not returned in time; (c) to avoid a failed settlement when the Custodian fails to make delivery.
(f) Repurchase Agreements
The Target Fund may enter, as buyer or as seller, into repurchase agreements (including rmr transactions) only if the
counterparty to these transactions is subject to prudential supervision rules considered by the Supervisory Authority of
Luxembourg as equivalent to these prescribed by Community Law. These transactions consists in the purchase and sale of
securities whereby the terms of the agreement entitle or oblige, depending on the terms of the agreement, the seller to
repurchase from the purchaser the securities at a price and a time agreed amongst the two parties at the conclusion of the
agreement. Where the Target Fund acts as buyer, for the whole duration of the agreement, the Target Fund may not sell the
securities which are the object of the agreement either before the repurchase of the securities has been carried out by the
counterpart or the repurchase period has expired.
The risk exposure to a single counterparty of the UCITS arising from one ore more securities lending transactions, sale with
right of repurchase transaction and/or reverse repurchase / repurchase transactions may not exceed 10% of its assets when
the counterparty is a credit institution referred to in article 41, paragraph (1) (f) of the 2002 Law or 5% of its assets in other
cases.
The Target Fund must ensure that its obligations under repurchase agreements will not prevent it from meeting its
redemption obligations to the Shareholders. The same shall apply to buy and sell back transactions where no option is given
to the seller.
The Target Fund must ensure that its obligations under repurchase agreements will not prevent it from meeting its
redemption obligations to the Shareholders. The same shall apply to buy and sell back transactions where no option is given
to the seller.
2. Techniques and Instruments on currencies for purposes other than hedging
The Target Fund may, for purposes other than hedging, purchase and sell futures contracts and options on currencies, enter into
swap agreements on currencies and forward exchange contracts. These techniques and instruments on currencies for purposes
other than hedging must meet in the Target Fund the following conditions:
a) they may only be used in the sole and exclusive interest of the Shareholders for the purpose of offering an interesting return
versus the risks incurred,
b) the total of net commitments (these being calculated per currency) arising from the techniques used for purposes other than
hedging may not, in any case, exceed the net assets of the Target Fund.
3. Techniques and instruments to protect against exchange risks
For the purpose of protecting against currency fluctuation, the Target Fund may undertake transactions relating to financial
futures, warrants and options contracts traded on a regulated market. Alternatively, the Target Fund may undertake transactions
relating to OTC options, swaps and swaptions with highly rated financial institutions specialising in this type of transaction and
participating actively in the relevant OTC market. In order to hedge foreign exchange risks, a Target Fund may have outstanding
commitments in currency futures and/or sell call options, purchase put options or transact in warrants with respect to currencies,
or enter into currency forward contracts or currency swaps. The hedging objective of the transactions referred to above
presupposes the existence of a direct relationship between the contemplated transactions and the assets or liabilities to be
hedged and implies that, in principle, transactions in a given currency may not exceed the valuation of the aggregate assets
denominated in that currency nor may they, as regards their duration, exceed the period during which such assets are held.
4. Other instruments
(a) Warrants
Warrants shall be considered as transferable securities if they give the investor the right to acquire newly issued or to be
issued transferable securities. The Target Fund, however, may not invest in warrants where the underlying is gold, oil or
other commodities. The Target Fund may invest in warrants based on stock exchange indices for the purpose of efficient
portfolio management.
(b) Rules 144 A Securities

The Target Fund may invest in so-called Rule 144A securities which are securities that are not required to be registered for
resale in the United States under an exemption pursuant to Section 144A of the 1933 Act (Rule 144A Securities), but can
be sold in the United States to certain institutional buyers. The Target Fund may invest in Rule 144A Securities, provided
that: such securities are issued with registration rights pursuant to which such securities may be registered under the 1933
Act and traded on the US OTC fixed income securities market. Such securities shall be considered as newly issued
transferable securities.
In the event that any such securities are not registered under the 1933 Act within one year of issue, such securities shall be
considered as falling under point A. a) of investment restrictions and subject to the 20% limit of the Net Assets of the Target Fund
applicable to the category of securities referred to therein.
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(c) Structured notes
Subject to any limitations in its investment objective and policy and to the investment restrictions outlined above, the Target
Fund may invest in structured notes, comprising listed government bonds, medium-term notes, certificates or other similar
instruments issued by prime rated issuers where the respective coupon and/or redemption amount has been modified (or
structured), by means of a financial instrument. These notes are valued by brokers with reference to the revised discounted
future cash flows of the underlying assets. The investment restrictions are applying on both the issuer of the notes as well as
on the underlying of such notes.
Part B
Foreign market admission requirements
The Funds have obtained prior approval from the relevant regulatory authorities before investing into India, South Korea and
Taiwan. The affected Funds are:
Funds India South Korea Taiwan

CIMB-Principal Global Growth Fund - -
CIMB-Principal Global Balanced Fund - -
Foreign market admission requirements:
India: Foreign Institutional Investors (FII) certificate issued by the Securities Exchange Board of India (SEBI), renewal every 5
years;
South Korea: Investment Registration Certificate (IRC) issued by the Financial Supervisory Service (FSS), annual renewal of
the IRC is not necessary; and
Taiwan: Foreign Institutional Investors (FINI) license issued by the Taiwan Stock Exchange, annual renewal of the FINI is not
required.
120
PART C
Authorised investments
Subject to the Deeds, the investment policies for the Funds and the requirements of the SC and any other regulatory body, the
Manager has the absolute discretion as to how the assets of the Funds are to be invested. Under the Deeds, the Funds can invest
in a wide range of securities, including but not limited to those as set out below.

The following types of investments, including but not limited to:
Equities and debentures traded in or under the rules of an eligible market;

Warrants that carry the right in respect of a security traded in or under the rules of an eligible market;
Unlisted securities including securities not listed or quoted on a stock exchange but have been approved by the relevant
regulatory authority for such listing or quotation and are offered directly to the fund by the issuer;
Deposits and money market instruments;
Derivative instruments, including but not limited to options, futures contracts, forward contracts and swaps;
All types of collective investment schemes (both local and foreign);
Structured products;
Securities listed or traded on foreign markets where the regulatory authority is a member of the International Organization of
Securities Commissions (IOSCO); and
Any other form of investments as may be permitted by the SC from time to time that is in line with the Funds objectives.





Equities and debentures traded in or under the rules of an Eligible Market;

Warrants that carry the right in respect of a security traded in or under the rules of an Eligible Market;
All types of collective investment schemes;
Structured products; and
121









122








123
Debentures, money market instruments and placement in deposits (permitted investments);


Debentures, money market instruments and placement in deposits (permitted investments); and

One collective investment scheme (local or foreign) provided it is not a Fund-of-Funds or a Feeder Fund;





Derivative instruments, including but not limited to options, futures contracts, forward contracts and swaps; and

124

All types of collective investment schemes (both local and foreign) provided they are not a Fund-of-Funds or a Feeder Fund;
Deposits and money market instruments; and
Any other form of investments as may be permitted by the SC from time to time that is in line with the Funds objective.







125
4.11 CIMB-Principal Lifecycle Funds (LF2017, LF2022 and LF2027)



The formulation of the investment policies and strategies of the Funds are based on the objectives of the Funds after
taking into consideration the regulatory requirements outlined in the SC Guidelines, with such exemptions/variations (if
any) as permitted by the SC.
126
Investment restrictions and limits
CIMB-Principal Equity Fund, CIMB-Principal Equity Fund 2, CIMB-Principal Equity Aggressive Fund 1, CIMB-Principal
Equity Aggressive Fund 3, CIMB-Principal Equity Growth Fund, CIMB-Principal Equity Growth & Income Fund, CIMB-
Principal Equity Income Fund, CIMB-Principal Small Cap Fund, CIMB-Principal Balanced Fund, CIMB-Principal Balanced
Income Fund, CIMB-Principal Income Plus Balanced Fund, CIMB-Principal Bond Fund, CIMB-Principal Strategic Bond
Fund, CIMB-Principal ASEAN Equity Fund, CIMB-Principal Asian Equity Fund, CIMB-Principal Emerging Asia Fund, CIMB-
Principal Global Balanced Fund, CIMB-Principal Global Growth Fund, CIMB-Principal Global Titans Fund and CIMB-
Principal Lifecycle Funds are subject to the following investment restrictions/limits:
Exposure Limit
the value of the Funds investment in unlisted securities must not exceed 10% of the Funds NAV.
Investment Spread Limits

the value of the Funds investment in ordinary shares issued by any single issuer must not exceed 10% of the Funds NAV Note
2
;
the value of the Funds investments in transferable securities and money market instruments issued by any single issuer must
not exceed 15% of the Funds NAV Note 1;
the value of the Funds placement in deposits with any single institution must not exceed 20% of the Funds NAV;
the Funds exposure from derivatives positions should not exceed the Funds NAV. Further,
the exposure to the underlying assets must not exceed the investment spread limits stipulated in the SC Guidelines; and
the value of the Funds over-the-counter (OTC) derivative transaction with any single counter-party must not exceed 10%
of the Funds NAV;
the value of the Funds investment in structured products issued by a single counter-party must not exceed 15% of the Funds
NAV;
the aggregate value of the Funds investments in transferable securities, money market instruments, deposits, OTC derivatives
and structured products issued by or placed with (as the case may be) any single issuer/institution must not exceed 25% of the
Funds NAV Note 1;
the value of the Funds investment in units/shares of any collective investment scheme must not exceed 20% of the Funds
NAV (for CIMB-Principal ASEAN Equity Fund, the Fund may invest up to 30% of its NAV into CIMB FTSE/ASEAN 40 or other
ETFs with similar objective);
the value of the Funds investment in transferable securities and money market instruments issued by any group of companies
must not exceed 20% of the Funds NAV.Note 1
Investment Concentration Limits Note 2

the Funds investments in transferable securities (other than debentures) must not exceed 10% of the securities issued by any
single issuer;
the Funds investments in debentures must not exceed 20% of the debentures issued by any single issuer;
the Funds investments in money market instruments must not exceed 10% of the instruments issued by any single issuer.
This limit does not apply to money market instruments that do not have a pre-determined issue size;
the Funds investments in collective investment schemes not exceed 25% of the units/shares in any one collective investment
scheme.
Note 1 : Not applicable for CIMB-Principal Bond Fund and CIMB-Principal Strategic Bond Fund. Instead, the following apply:
the value of the Funds investments in debentures issued by any single issuer must not exceed 20% of the Funds
NAV. This single issuer limit may be increased to 30% if the debentures are rated by any domestic or global rating
agency to be of the best quality and offer highest safety for timely payment of interest and principal;
the value of the Funds investments in debentures issued by any group of companies must not exceed 30% of the
Funds NAV. Where the single issuer limit is increased to 30%, the aggregate value of a funds investment must not
exceed 30%.
Note 2 : For CIMB-Principal Lifecycle Funds, the Investment Concentration Limits will apply at the level of the umbrella fund.
CIMB-Principal Money Market Income Fund and CIMB-Principal Deposit Fund are subject to the following investment
restrictions/ limits:
Exposure Limits
The value of the Funds investments in permitted investments must not be less than 90% of the Funds NAV;
The value of the Funds investments in permitted investments which have a remaining maturity period of not more than 365
days must not be less than 90% of the Funds NAV;
The value of the Funds investments in permitted investments which have a remaining maturity period of more than 365 days
but fewer than 732 days must not exceed 10% of the Funds NAV.
The value of the Funds investments in debentures and money market instruments issued by any single issuer must not
exceed 20% of the Funds NAV. This single issuer limit may be increased to 30% if the debentures are rated by any domestic
or global rating agency to be of the best quality and offer highest safety for timely payment of interest and principal;
The value of the Funds placement in deposits with any single financial institution must not exceed 20% of the Funds NAV;
The value of the Funds investments in debentures and money market instruments issued by any group of companies must not
exceed 30% of the Funds NAV;
Where applicable, the core requirements for non-specialised funds shall apply for any other type of investments.
127
Investment Concentration Limits
A funds investments in debentures must not exceed 20% of the securities issued by any single issuer;
A funds investments in money market instruments must not exceed 20% of the instruments issued by any single issuer; and
A funds investments in collective investment schemes must not exceed 25% of the units/shares in any collective investment
scheme.
CIMB-Principal Global Asset Spectra Fund is subject to the following investment restrictions/limits:
the Fund must be invested in at least five (5) collective investment schemes at all times;
the value of the Funds investments in units/shares of any collective investment scheme must not exceed 30% of the Funds
NAV.
Investment Concentration Limit
the Funds investments in collective investment schemes must not exceed 25% of the units/shares in any collective investment
scheme.
CIMB-Principal Greater China Equity Fund, CIMB-Principal Climate Change Equity Fund, CIMB-Principal MENA Equity
Fund and CIMB-Principal Asia Infrastructure Equity Fund are subject to the following investment restrictions/limits:
the Fund must be invested in one (1) collective investment scheme;
If the Fund ceases to comply with the above limitations on investments, the Manager should not make any further acquisitions to
which the relevant limit is breached and must remedy the non-compliance as soon as practicable (maximum three (3) months from
the date of the breach).
Minimum requirement for liquid assets
Liquid assets include cash, deposits with licensed financial institutions, money market instruments and debentures with a remaining
maturity of less than one (1) year.
CIMB-Principal Equity Fund, CIMB-Principal Equity Fund 2, CIMB-Principal Equity Aggressive Fund 1, CIMB-Principal Equity
Aggressive Fund 3, CIMB-Principal Equity Growth Fund, CIMB-Principal Equity Growth & Income Fund, CIMB-Principal Equity
Income Fund, CIMB-Principal Small Cap Fund, CIMB-Principal Balanced Fund, CIMB-Principal Balanced Income Fund, CIMB-
Principal Income Plus Balanced Fund, CIMB-Principal Bond Fund, CIMB-Principal Strategic Bond Fund, CIMB-Principal ASEAN
Equity Fund, CIMB-Principal Emerging Asia Fund and CIMB-Principal Global Titans Fund will hold a minimum of 2% of its Net
Asset Value (or such other amount agreed by both the Manager and the Trustee from time to time) in liquid assets.
CIMB-Principal Asia Infrastructure Equity Fund, CIMB-Principal Climate Change Equity Fund, CIMB-Principal Global Asset Spectra
Fund, CIMB-Principal Greater China Equity Fund, CIMB-Principal Lifecycle Funds and CIMB-Principal MENA Equity Fund may hold
up to 5% of its Net Asset Value (or such other amount agreed by both the Manager and the Trustee from time to time) in liquid
assets.
CIMB-Principal Asian Equity Fund, CIMB-Principal Global Growth Fund and CIMB-Principal Global Balanced Fund will hold a
minimum of 0.5% of its Net Asset Value (or such other amount agreed by both the Manager and the Trustee from time to time) in
liquid assets.
128
Valuation of authorized investments
Valuation of fund will be carried out by the Manager in a fair manner in accordance with the applicable laws and guidelines. The
valuation bases for the authorised investments of the Funds are as below:
Listed securities
The value of any authorized investments, which are quoted on an approved exchange, shall be calculated by reference to the
last transacted price on that approved exchange. If there is no such transacted price, the value shall be determined by
reference to the mean of bid and offer prices at the close of trading. Suspended securities will be valued at their last done price
unless there is conclusive evidence to show that the value has gone below the suspended price or where the quotation of the
securities has been suspended for a period exceeding 14 days, whereupon their fair value will be determined in good faith by
the Manager based on the methods or bases approved by the Trustee after appropriate technical consultation.
Unlisted securities
As per the SC Guidelines, the value of unlisted securities shall be determined every fortnightly on the basis of fair value as
determined in good faith by the Manager on methods or basis which have been verified by the auditor of the Fund and
approved by the Trustee, and adequately disclosed in this section.
The value of any unlisted RM-denominated bonds shall be calculated on a daily basis using prices quoted by a bond pricing
agency (BPA) registered with the SC. Where such prices are not available or where the Manager is of the view that the price
quoted by the BPA for a specific bond differs from the market price by more than 20 basis points, the Manager may use the
market price by reference to the last available quote provided such quote was obtained within the previous 30 days and the
Manager records its basis for using a non-BPA price, obtained necessary internal approvals to use the non-BPA price and
keeps an audit trail of all decisions and basis for adopting the market yield.
The valuation of securities not listed or quoted on a stock exchange but have been approved by the relevant regulatory
authority for such listing or quotation and are offered directly to the Fund by the issuer shall be valued at the issue price of
such securities. For unlisted derivative instruments, the value will be determined by the financial institution that issued the
instrument.
Collective investment schemes

The value of any investment in collective investment schemes which are quoted on an approved exchange shall be calculated
in the same manner as other listed securities described above. When investing in unlisted collective investment schemes, the
value shall be determined by reference to the last published Net Asset Value per unit for that collective investment scheme.
Deposits
The value of any deposits placed with financial institutions and/or investments in money market instruments such as bankers
acceptances and repurchase agreements shall be determined each day by reference to the nominal value of such authorized
investments and the accrued income thereon for the relevant period.
If the quotations referred to above are not available or if the value of the authorized investments determined in the manner
described above, in the opinion of the Manager, does not represent a fair value of the authorized investments, then the value shall
be any fair value as may be determined in good faith by the Manager. This valuation method shall be verified by the auditors of the
Fund and approved by the Trustee.
Where the value of an asset of the Fund (except EGIF) is denominated in a foreign currency, if any, the assets are translated on a
daily basis to Ringgit Malaysia using the bid foreign exchange rate quoted by either Reuters or Bloomberg at 6:30 a.m. Malaysian
time on the following day, as per the Federation of Investment Managers Malaysia Standard No. 004 (FMUTM/IMS(R&D)-004).
Borrowings / Financing
Unless approved/allowed by the SC, the Funds may not borrow cash or obtain cash financing or other assets in connection with its
activities. However, the Funds may borrow cash for the purpose of meeting withdrawal requests for units and for short-term bridging
requirements in accordance with the SC Guidelines.
Securities lending
The Funds may participate in the lending of securities within the meaning of the Guidelines on Securities Borrowing and Lending
issued by the SC (as may be amended and/or updated from time to time) when the Manager finds it appropriate to do so with a
view of generating additional income for the Funds with an acceptable degree of risk.
The lending of securities is permitted under the Deeds and must comply with the above mentioned as well as with the relevant rules
and directives issued by Bursa Malaysia, Bursa Malaysia Depository Sdn Bhd and Bursa Malaysia Securities Clearing Sdn Bhd.
129
Funds Performance
Average Total Returns
Since
1-Year 3-Year 5-Year 10-Year
Inception
As at 31 May 2009, in %
CIMB-Principal Asia Infrastructure Equity Fund (23.14) - - - (23.42)
CIMB-Principal Climate Change Equity Fund (38.19) - - - (24.53)
CIMB-Principal MENA Equity Fund (46.17) - - - (41.86)
As at 30 June 2009, in %
CIMB-Principal Equity Fund (4.25) 14.81 10.07 - 5.13
CIMB-Principal Asian Equity Fund (7.72) (1.83) - - (3.90)
As at 31 August 2009, in %
CIMB-Principal Deposit Fund 2.20 2.70 2.55 - 2.53
CIMB-Principal Balanced Income Fund 9.80 10.44 6.40 - 7.02
CIMB-Principal Lifecycle 2017 4.36 - - - (2.26)
CIMB-Principal Lifecycle 2022 2.28 - - - (4.44)
CIMB-Principal Lifecycle 2027 (0.16) - - - 6.19)
As at 31 October 2009, in %
CIMB-Principal Equity Fund 2 45.16 10.82 8.48 - 5.92
As at 30 November 2009, in %
CIMB-Principal Equity Growth Fund 55.30 9.03 7.86 - 8.46
As at 31 December 2009, in %
CIMB-Principal Balanced Fund 42.47 6.20 6.37 - 10.73
CIMB-Principal Equity Aggressive Fund 3 51.10 6.95 6.86 - 9.45
CIMB-Principal Small Cap Fund 41.00 8.03 5.11 - 5.97
CIMB-Principal Income Plus Balanced Fund 23.92 4.56 4.98 - 7.99
CIMB-Principal Bond Fund 8.43 4.76 4.63 - 6.15
CIMB-Principal Strategic Bond Fund 7.71 3.70 6.78 - 7.27
CIMB-Principal Money Market Income Fund 3.64 3.28 3.08 - 2.88
As at 31 January 2010, in %
CIMB-Principal Equity Income Fund 50.39 2.82 6.46 - 7.25
As at 28 February 2010 (29 February in the event of a leap year), in %
CIMB-Principal Global Growth Fund 31.92 (14.91) - - (4.37)
CIMB-Principal Global Balanced Fund 22.99 (15.31) - - (2.46)
As at 31 March 2010, in %
CIMB-Principal Global Titans Fund (19.93) (0.09) - - (4.49)
CIMB-Principal Emerging Asia Fund 41.80 - - - -
As at 30 April 2010, in %
CIMB-Principal Global Asset Spectra Fund 15.69 (3.16) - - (2.32)
CIMB-Principal Greater China Equity Fund 30.10 - - - (2.80)
CIMB-Principal ASEAN Equity Fund 45.54 - - - (4.09)
CIMB-Principal Equity Growth & Income Fund 41.18 5.26 12.02 4.51 5.45
CIMB-Principal Equity Aggressive Fund 1 46.65 3.58 12.87 - 12.04
All performance figures have been verified by Mercer Zainal Consulting Sdn. Bhd. (35090-H) except for EF, EF2, EAF1, AEF and
GGF, where the source is from Lipper.
130
Annual Total Returns
Since
1-Year 2-Year 3-Year 4-Year 5-Year 6-Year 7-Year 8-Year 9-Year 10-Year
Inception
Aa at 31 May 2009, in %
CIMB-Principal Asia
Infrastructure Equity 38.54 - - - - - - - - - (16.46)
Fund
CIMB-Principal
Climate Change 20.65 (39.91) - - - - - - - - (44.98)
Equity Fund
CIMB-Principal
20.35 - - - - - - - - - (37.56)
MENA Equity Fund
CIMB-Principal
(4.25) (6.04) 51.35 60.43 61.57 85.22 77.84 139.27 75.47 101.91 100.64
Equity Fund
CIMB-Principal Asian
(25.20) (5.39) 29.49 - - - - - - - (7.11)
Equity Fund
CIMB-Principal
2.20 5.24 8.92 11.04 13.44 - - - - - 2.41
Deposit Fund
CIMB-Principal
Balanced Income 9.80 0.86 34.70 33.73 36.40 42.40 53.99 78.91 64.40 73.86 150.88
Fund
CIMB-Principal
4.36 (4.95) - - - - - - - - (4.76)
Lifecycle 2017
CIMB-Principal
2.28 (9.42) - - - - - - - - (9.24)
Lifecycle 2022
CIMB-Principal
(0.16) (12.90) - - - - - - - - (12.76)
Lifecycle 2027
CIMB-Principal
45.16 (9.72) 36.10 48.30 50.24 55.10 87.18 106.26 83.61 78.49 125.01
Equity Fund 2
CIMB-Principal
55.30 (10.91) 29.62 60.93 45.96 65.18 - - - - 65.04
Equity Growth Fund
CIMB-Principal
42.47 (11.23) 19.77 48.11 36.20 60.23 83.61 85.10 100.00 71.48 233.37
Balanced Fund
CIMB-Principal
Equity Aggressive 51.10 (14.23) 22.34 52.50 39.33 52.95 82.44 77.57 93.67 48.22 190.51
Fund 3
CIMB-Principal Small
41.00 (17.77) 26.09 56.62 28.32 - - - - - 39.20
Cap Fund
CIMB-Principal
Income Plus 23.92 (0.62) 14.31 28.77 27.48 38.75 51.88 56.32 66.21 60.91 147.90
Balanced Fund
CIMB-Principal Bond
8.43 10.99 14.97 21.26 25.42 37.15 39.94 49.33 60.48 76.35 132.49
Fund
CIMB-Principal
7.71 7.21 11.51 27.90 38.79 - - - - - 50.04
Strategic Bond Fund
CIMB-Principal
Money Market 3.64 6.94 10.16 13.70 16.39 - - - - - 18.11
Income Fund
CIMB-Principal
50.39 (11.40) 8.71 35.46 36.73 - - - - - 55.93
Equity Income Fund
CIMB-Principal
31.92 (37.71) (11.88) 11.91 - - - - - - (17.42)
Global Growth Fund
CIMB-Principal
Global Balanced 22.99 (27.60) (4.89) 6.69 - - - - - - (9.63)
Fund
131
Since
1-Year 2-Year 3-Year 4-Year 5-Year 6-Year 7-Year 8-Year 9-Year 10-Year
Inception
CIMB-Principal
15.61 (19.93) (9.10) 4.01 - - - - - - (2.47)
Global Titans Fund
CIMB-Principal
41.80 (35.45) (1.38) 25.86 - - - - - - 21.25
Emerging Asia Fund
CIMB-Principal
Global Asset Spectra 15.69 (6.88) (9.19) - - - - - - - (7.82)
Fund
CIMB-Principal
Greater China Equity 30.10 - - - - - - - - - (7.72)
Fund
CIMB-Principal
ASEAN Equity 45.54 2.96 - - - - - - - - (10.20)
Fund
CIMB-Principal
Equity Growth & 41.18 1.79 16.61 62.28 76.40 75.51 128.30 82.99 151.01 55.47 173.92
Income Fund
CIMB-Principal
Equity Aggressive 46.65 4.68 11.13 62.37 83.17 - - - - - 91.17
Fund 1
All performance figures have been verified by Mercer Zainal Consulting Sdn. Bhd. (35090-H) except for EF, EF2, EAF1, AEF and
GGF, where the source is from Lipper.
Basis of calculation and assumptions made in calculating the returns
NAVt NAVt-1
Percentage growth = -------------------------------
NAVt
Number of Periods per Year

_ Total Number of Periods
Performance annualized = (1 + Percentage growth) -1
132
Funds performance against benchmark
These tables describe the performance of the Funds and comparison with the selected benchmark for the last financial year end:
As at 31 May 2009, in %
CIMB-Principal Asia Infrastructure Equity Fund
For the financial year ended 31 May 2009, the Fund
15.00%
fell by 23.14% underperforming its benchmark by
10.00%
2.1% as the regional markets succumbed to the sub-
5.00%
prime crisis in the United States.
0.00%
YTD 1 month 3 Month 6 Month 9 Month 12 Month Since inception
-5.00%
-10.00%
-15.00%
-20.00%
-25.00%
-30.00%
-35.00%
-40.00%
-45.00%
-50.00%
CIMB-Principal Asia Insfrastructure Fund MSCI AC Asia Pacific ex Japan ND Index

10%
was down 38.2% during the period under review as
5%
0%
global markets succumbed to the sub-prime crisis in
-5%
YTD 1 month 3 Month 6 Month 9 Month 12 Month Since inception the United States.
-10%
-15%
-20%
-25%
-30%
-35%
-40%
-45%
-50%
-55%
-60%
Climate Change Equity Fund Benchmark
15.00%
10.00% fell 46.7% during the period under review as global
5.00% markets succumbed to the sub-crisis in the United
0.00% States and crude oil prices plunged from a high of
- 5.00% YTD 1mt h 3 mt h 6 mt h 9 mt h SinceInc USD145 to US35 per barrel on a drop in demand
-10.00% because of the global recession.
-15.00%
- 20.00%
- 25.00%
- 30.00%
- 35.00%
- 40.00%
- 45.00%
- 50.00%
- 55.00%
CIM B-Principal M ena Equit y Fund 10%pa
133
CIMB-Principal Equity Fund
180%
For the financial year ended 30 June 2009, the Fund
fell by 4.25%, in the 1-year to June 2009,
160% outperforming the benchmark by 5.13%.
140%
120%
100%
80%
60%
40%
20%
0%
YTD 1 month 3 Month 6 Month 12 Month 3 Years 5 Years Since inception
CIMB-Principal Equity Fund FTSE Bursa Malaysia Top 100 Index

For the financial year ended 30 June 2009, the Fund
50%
fell by 7.72% outperformed its composite benchmark
by 7.12% during the year.
40%
30%
20%
10%
0%
YTD 1 month 3 Month 6 Month 12 Month 3 Years Since inception
-10%
-20%
-30%
CIMB-Principal Asian Equity Fund MSCI All Country Asia ex Japan Index
For the financial year ended 31 August 2009, the
160%
Fund recorded 9.80% in capital gains for the period
140%
under review, outperforming the benchmark by
3.84%. The market bottomed in October/November
120%
2008 and was on a sustained uptrend since March
2009. Given that we progressively increased
100% weightings closer to end-2008 onwards, the Fund
benefitted from the market rally in 2009.
80%
Over the longer periods, the Fund had managed to

60%
outperform the benchmark (excluding the 5-year
period when it underperformed by 1.24%), as shown
40%
in the chart below.
20%
* Effective 6 July 2009, the KLCI benchmark for
0% this Fund was discontinued and has been
YTD 1 Month 3 Month 6 Month 12 Month 3 Year 5 Year Since inception
replaced by the FTSE Bursa Malaysia KLCI. As
CIMB-Principal Balanced Income Fund 60% FBM 100 + 40% CIMB Bank 1-Month Fixed Deposit Rate
a result of its larger stock universe, this Fund
has been replaced with the following: 60%
FBM100 + 40% CIMB Bank 1-month Fixed
Deposit Rate
134
16%
Fund generated a return of 2.55% against the
14%
benchmark of 1.92%. Hence, a slight outperformance
of 0.63%.
12%
10%
8%
6%
4%
2%
0%
YTD 1 Month 3 Month 6 Month 12 Month 3 Years Since inception
CIMB-Principal Deposit Fund CIMB Bank Overnight Rate

30% Fund posted a growth of 4.36% while the benchmark
25% rose by 0.41%. Since inception however, the Fund is
still 2.26% lower.
20%
15%
10%
5%
0%
-5%
-10%
-15%
-20%
CIMB-Principal Lifecycle Fund 2017 Quant shop MGS All Bond Index (35%) + FTSE Bursa Malaysia Top 100 Index (30%) + FTSE All-World Index (35%)

40%
Fund posted a growth of 2.28% while the benchmark
35% rose by 0.78%. Since inception however, the Fund is
30% still 4.44% lower.
25%
20%
15%
10%
5%
0%
-5%
-10%
-15%
-20%

40%
Fund posted a decline of 0.16% while the benchmark
35% declined by 1.98%. Since inception however, the
30% Fund is still 6.19% lower.
25%
20%
15%
10%
5%
0%
-5%
-10%
-15%
-20%
-25%
-30%
135
CIMB-Principal Equity Fund 2
130%
For the financial year ended 31 October 2009, the Fund
recorded a total return of 45.16% while the benchmark
120%
posted an increase of 43.96%. This represents an
110%
outperformance of 1.2%.
100%
90% * Effective 6 July 2009, the KLCI benchmark for this

80% Fund was discontinued and has been replaced by
70%
the FTSE Bursa Malaysia KLCI. As a result of its
60%
larger stock universe, this Funds benchmark has
been replaced with the following: FTSE Bursa
50%
Malaysia Top 100 Index.
40%
30%
20%
10%
0%
YTD 1 month 3 Month 6 Month 12 Month 3 Years 5 Years Since inception
CIMB-Principal Equity Fund 2 FTSE Bursa Malaysia Top 100 Index
For the financial year ended 30 November 2008, the

80% Fund gained 55.30% for the year, marginally under-
performed its benchmark of 56.01%. On the longer term
70%
basis of 3-years, the Fund out-performed its benchmark
60%
by 9.03%. Since inception, the Fund has out-performed
its benchmark by 8.46%.
50%
* Effective 6 July 2009, the benchmark for this Fund
40% has been replaced with the following: 50% FTSE
Bursa Malaysia KLCI + 50% MSCI AC Asia ex
30% Japan. This is because the previous benchmark,
KLCI was discontinued.
20%
10%
0%
CIMB-Principal Equity Growth Fund 50% FTSE Bursa Malaysia KLCI + 50% MSCI AC Asia ex Japan
240% For the financial year ended 31 December 2009, the

220% Fund gained 42.47% for the year, outperforming its
200% benchmark by 11.67%. On the longer term basis of 3
180%
years, the Fund outperformed its benchmark by 3.60%.
160%
140%
120%
100%
80%
60%
40%
20%
0%
YTD 1 Month 3 Month 6 Month 12 Month 3 Years 5 Years Since Inception
CIMB-Principal Balanced Fund 70% FBM 100 + 30% CIMB Bank 1-Month Fixed Deposit Rate
136
Fund gained 55.10% for the year, outperforming its
benchmark by 6.19%. On the longer term basis of 3
200% years, the Fund outperformed its benchmark by 4.64%.
150%
100%
50%
0%
CIMB-Principal Equity Aggressive Fund 3 FTSE Bursa Malaysia Top 100 Index
For the financial year ended 31 December 2009, the

70% Fund increased 41.0% as compared with the
benchmarks rise of 55.1%. Therefore, the Fund under-
60% performed the benchmark by 14.1%. The under-
performance was due mainly to the sharp rebound in
50% small and illiquid small cap stocks where the fund is
underweighted. Over the last 3 years, the Fund has
40% risen 26.1, averaging 8.0% per annum. The Fund has
therefore met its objective of consistent capital growth
30% over the medium to long term.
20%
10%
0%
YTD 1 month 3 Month 6 Month 12 Month 3 year 5 year Since Inception
CIMB-Principal Small Cap Fund FTSE Bursa Malaysia Small Cap Index

Fund gained 23.92% for the year, outperforming its
140%
benchmark by 6.16%. On the longer term basis of 3
years, the Fund outperformed its benchmark by 0.77%.
120%
100%
80%
60%
40%
20%
0%
CIMB-P Income Plus Balanced Fund 40% FBM 100 + 60% CIMB Bank 1-Month Fixed Deposit Rate
137

Fund achieved a total return of 8.43% compared to the
120%
benchmark Quant Shop MGS Bond Index (medium
sub-index) return of 1.51%.
100%
80%
60%
40%
20%
0%
YTD 1 month 3 month 6 month 1 Year 3 Year 5 Year Since Inception
CIMB-Principal Bond Fund Quant shop MGS Bond Index (Medium Sub-Index)

50%
Fund had a positive return of 7.71% compared to its
benchmark which also had a positive return of 1.51%.
40% Hence, there was an outperformance of 6.20%.
30%
20%
10%
0%
YTD 1 month 3 Month 6 Month 12 Month 3 year 5 year Since Inception
CIMB-Principal Strategic Bond Fund Quant shop MGS Bond Index (Medium Sub-Index)

20% Fund consistently outperformed the benchmark by a
18% fair margin over all periods of comparison (1-, 2-, 3-
year basis and since inception). In 2009, the Fund
16%
generated a return of 3.64% against the benchmark
14% 1.09%.
12%
10%
8%
6%
4%
2%
0%
YTD 1 month 3 Month 6 Month 12 Month 3 Years 5 Years Since Inception
CIMB-Principal Money Market Income Fund CIMB Bank Overnight Rate
For the financial year ended 31 January 2010, the Fund
80%
achieved a positive return of 37.78% outperforming its
70% benchmark which also had a positive return of 34.88%.
60% * Effective 6 July 2009, the KLCI benchmark for this

50%
Fund was discontinued and has been replaced by
the FTSE Bursa Malaysia KLCI. As a result of its
40% larger stock universe, this Funds benchmark has
been replaced with the following: 50% FTSE Bursa
30%
Malaysia Top 100 Index + 50% MSCI AC Asia ex
20% Japan.
10%
0%
YTD 1 Month 3 Month 6 Month 12 Month 3 Years 5 Years Since inception
-10%
CIMB-Principal Equity IncomeFund 50% FTSE Bursa Malaysia Top 100 Index + 50% MSCI AC Asia ex Japan
138
For the financial year ended 28 February 2010, the Fund
40% returned 31.87%, while the benchmark rose 42.07%.
Consequently, the fund underperformned the benchmark
30%
by 10.20%. Since inception, the fund has a return of -
20%
17.42%, compared to the benchmarks performance of -
12.98%.
10%
0%
-10%
-20%
-30%
CIMB-Principal Global Grow th Fund MSCI All Country World Index

For the financial year ended 28 February 2010, the Fund
20% returned 16.22%, while the benchmark returned 19.25%.
Consequently, the fund underperformed the benchmark
15% by 3.03%.
10%
5%
0%
-5%
-10%
-15%
CIMB-Principal Global Balanced Fund 55% MSCI All Country World Index + 45% JP Morgan Global Government Bond Index
For the financial year ended 31 March 2010, the Fund
30% had a return of 15.61% compared to its benchmark
25% which had a return of 25.01%. Hence, there was a slight
underperformance of 9.4%.
20%
15% * Effective 1 July 2010, the benchmark for this Fund

will be replaced with the following: 42% S&P500 +
10%
36% MSCI Europe + 12% MSCI Japan + 10%
5% CIMB Bank 1-month Fixed Deposit Rate. The cash
0%
portion in the benchmark has been re-based to
YTD 1 month 3 Month 6 Month 12 Month 3 years Since Inception 10% because the original 25% in cash is
-5% translating into some negative drag in the
-10% performance of the Fund.
-15%
-20%
CIMB-Principal Global Titans Fund 42% S&P500 + 36% MSCI Europe + 12% MSCI Japan + 10% CIMB Bank 1-Month FDR
139
For the financial year ended 31 March 2010, the Fund
60% had a positive return of 41.80% compared to its
benchmark which also had a positive return of 53.38%.
50%
Hence, there was an underperformance of 11.58%.
40%
30%
20%
10%
0%
YTD 1 month 3 Month 6 Month 12 Month 3 Years Since Inception
-10%
-20%
CIMB-Principal Emerging Asia Fund MSCI All Country Asia ex Japan Index
For the financial year ended 30 April 2010, the Fund had
25%
a positive return of 15.69% compared to its benchmark
20% which also had a positive return of 17.45%. Hence, there
15% was an underperformance of 1.76%.
10%
5%
0%
YTD 1 month 3 Month 6 Month 12 Month 3 Years Since Inception
-5%
-10%
-15%
-20%
-25%
CIMB-Principal Global Asset Spectra Fund MSCI World Index (25%) + JP Morgan Global Government Bond Index (25%) + S&P/Citigroup BMI Property Index (25%) + S&P GSCI Total Return Index (25%)

40% a positive return of 30.10% compared to its benchmark,
which also had a positive return of 23.11%. Hence, there
30% was an outperformance of 6.99%.
20%
10%
0%
YTD 1 month 3 Month 6 Month 9 Month 12 Month Since Inception
-10%
-20%
CIMB-Principal Greater China Equity Fund MSCI Golden Dragon

60%
a positive return of 45.54% compared to its benchmark,
was an underperformance of 2.62%.
40%
30%
20%
10%
0%
YTD 1 month 3 Month 6 Month 9 Month 12 Month 2 Years Since inception
-10%
-20%
CIMB-Principal ASEAN Equity Fund FTSE/ASEAN 40 Index
140
During the financial year under review, the Fund had a
180%
positive return of 41.18% compared to its benchmark,
140%
was an outperformance of 6.30%.
120%
100%
80%
60%
40%
20%
0%
-20%
CIMB-Principal Equity Growth & Income Fund 50% FTSE Bursa Malaysia Top 100 Index + 50% MSCI AC Asia ex Japan

During the financial year under review, the Fund had a
100% positive return of 19.19% compared to its benchmark,
90%
which also had a positive return of 14.60%. Hence, there
was an outperformance of 4.59%.
80%
70%
60%
50%
40%
30%
20%
10%
0%
YTD 1 month 3 Month 6 Month 12 Month 3 year 5 year Since inception
CIMB-Principal Equity Aggressive Fund 1 FTSE Bursa Malaysia KLCI
141
This table describes the performance of the Target Funds against their respective benchmarks as at the latest Financial Year End
of their respective Feeder Funds.
Schroder ISF Greater China (Target Fund of CIMB-Principal Greater China Equity Fund)
As at 30 April 2010
It was an exceptionally strong year for Greater China equities. Greater China equities started with a strong recovery as fears about a
global financial meltdown dissipated on signs that the world economy was stabilising. With the return of risk appetite, those stocks that
had been hit the hardest in 2008 led the rally fuelled by a better tone to global macro data and strong liquidity conditions created by
unprecedented interest rate cuts and fiscal stimulus packaged by central banks and governments around the world. Greater China
equities finished the first four months in 2010 lower as fears about future monetary tightening weighed heavily on sentiment. Investors
were initially rattled by an earlier-than-expected increase in banks reserve requirements in January, which was followed by another hike
in February, leading to worries that this is the start of significant curbs to cool the economy. Further afield, concerns about sovereign risk
in the eurozone added to the cautionary mix.
The fund registered a very strong return over the review period and outperformed the benchmark comfortably. Our strong stock selection
in industrials had the most positive impact on relative returns. On the other hand, relative performance was dented by our overweight
position in telecom names. Our stock selection in materials also held back relative gains.
The current uncertainties should serve as a reminder about the fragility of the global recovery, and we would expect to see increased
volatility in the near term. While this presents a difficult backdrop for investors, we think that there are still areas of the market that offer
value, so we will take advantage of any market weakness to add to some of our favoured long-term names. Currently, we remain positive
on domestically focused companies with strong business franchises and good visible and sustainable earnings. These companies, in our
view, should be better positioned to cope with the uncertainties while still benefiting from the regions positive consumption and capital
spending trends.
DWS Invest Climate Change (Target Fund of CIMB-Principal Climate Change Equity Fund)
As at 30 April 2010
180
DWS Invest Climate Change (FC share class) MSCI World
160 The escalation of the Greek sovereign debt crisis
intensified volatility in the financial markets this month,
140 even as corporate earnings and economic releases
120 offered fresh evidence that the global recovery is on
track. Initially, equities set fresh 18 month highs in the
100 middle of April, but uncertainty about the Greek debt
80 crisis, expectations of further monetary tightening from
China to slow its growth rate, and news of charges
60 against Goldman Sachs by US regulators led to profit
taking in the final days of the month. The Euro sank to its
40
lowest in one year against the Dollar. The energy sector
20 sold off on news of the disastrous oil spill in the Gulf of
Mexico.
0
May-07 Sep-07 Jan-08 May-08 Sep-08 Jan-09 May-09 Sep-09 Jan-10 In the month of April the DWS Climate Change fund
gained 1.27%, roughly in-line with the 1.6% increase of
the MSCI World index During the last four weeks we
142
increased our cash position in the fund to about 4% from
1.5%. We expect that the increased uncertainty in the
markets, accompanied by heightened volatility, will
produce investment opportunities. We intend to invest
this cash on days of weakness.
Invesco Asia Infrastructure Fund (Target Fund of CIMB-Principal Asia Infrastructure Equity Fund)
As at 30 April 2010
After one of the worst years in 2008, Asia Pacific ex

Japan markets ended the year on a strong note, with the
region surging +73.2% (USD terms) as measured by
MSCI AC Asia Pacific ex Japan. Crediting to the
aggressive loosening of monetary policy and rapid
improvement in economic fundamentals, Asian markets
have significantly outpaced that of the developed world in
terms of yearly returns, with cyclical sectors such as
consumer discretionary, IT and material sectors being the
best performing sectors for the year. Against this
backdrop, the Fund (C class) returned 48.6% for the year
2009, expressed in USD terms.
For the year of 2009, the Funds relative

underperformance against the reference index can mainly
be attributed to the insignificant exposure in cyclical
sectors that have little relations to infrastructure. With IT
and consumer discretionary sectors returning +112% and
+108% respectively in 2009 as a cyclical recovery play,
the Funds significantly underweighting in technology-
related companies in Korea, Taiwan, India and China
detracted value.
Looking ahead, we remain positive on the Asian markets

outlook in 2010, amid abundant liquidity, supportive
government policies, and encouraging developments on
the external front.
Ocean Fund / Equities MENA Opportunities (Target Fund of CIMB-Principal MENA Equity Fund)
120%
As at 31 May 2010
100%
Over the period from end May 2009 to end May 2010,
the Fund return +10.40% due to positive performance of
80%
our Saudi petrochemicals, consumers as well as Qatari
utilities holdings.
60%
Year to date, the Fund returned 0.92% as Qatari banks,

40%
Utilities as well as Saudi consumers holdings positively
contributed to the portfolio.
20%
0%
3/13/2008
4/13/2008
5/13/2008
6/13/2008
7/13/2008
8/13/2008
9/13/2008
10/13/2008
11/13/2008
12/13/2008
1/13/2009
2/13/2009
3/13/2009
4/13/2009
5/13/2009
6/13/2009
7/13/2009
8/13/2009
9/13/2009
10/13/2009
11/13/2009
12/13/2009
1/13/2010
2/13/2010
3/13/2010
4/13/2010
5/13/2010
OCEAN FUND EQUITIES MENA OPPORTUNITIES X
143
Distributions
CIMB-Principal Asia Infrastructure Equity Fund (FYE: 31 May) 2009 2008 2007
No income distribution has been paid since inception.
CIMB-Principal Climate Change Equity Fund (FYE: 31 May) 2009 2008 2007
In line with the investment objective, the Fund is not expected to pay any distribution.
CIMB-Principal MENA Equity Fund (FYE: 31 May) 2009 2008 2007

CIMB-Principal Equity Fund (FYE: 30 June) 2009 2008 2007
Distribution on 10 September 2007 (2007: 9 February 2007)

Net distribution per unit (sen) 4.81 4.40 4.20
Gross distribution per unit (sen) 6.00 5.50 5.00
Distribution was in the form of cash or reinvested into additional units in the Fund at the NAV per unit on the distribution date.
CIMB-Principal Asian Equity Fund (FYE: 30 June) 2009 2008 2007
CIMB-Principal Deposit Fund (FYE: 31 August) 2009 2008 2007
Distribution on 30 September
Gross/net distribution per unit (sen) 0.22 0.22 -
Distribution on 31 October
Distribution on 30 November
Distribution on 31 December
Distribution was in the form of units based on the NAV per unit of the Fund on the distribution date, which will be automatically
reinvested into the Fund.
CIMB-Principal Balanced Income Fund (FYE: 31 August) 2009 2008 2007
Distribution per unit

Net distribution per unit (sen) - 7.00 7.50
Gross distribution per unit (sen) - 6.88 7.17
CIMB-Principal Lifecycle Fund 2017 (FYE: 31 August) 2009 2008 2007


CIMB-Principal Equity Fund 2 (FYE: 31 October) 2009 2008 2007
Distribution
Net distribution per unit (sen) 4.80 - -
Gross distribution per unit (sen) 5.00 - -
CIMB-Principal Equity Growth Fund (FYE: 30 November) 2009 2008 2007
Final distribution on 14 February 2008 (Interim)

Net distribution per unit (sen) - 4.64 -
Gross distribution per unit (sen) - 2.50 -
Final distribution on 13 August 2008 (Final)

Final distribution on 14 October 2009 (Final)

144
CIMB-Principal Balanced Fund (FYE: 31 December) 2009 2008 2007
Final distribution on 31 December

Net distribution per unit (sen) - 2.30 3.00
Gross distribution per unit (sen) - 2.50 3.26
Distribution was in the form of cash.

CIMB-Principal Equity Aggressive Fund 3 (FYE: 31 December)
CIMB-Principal Small Cap Fund (FYE: 31 December)

CIMB-Principal Income Plus Balanced Fund (FYE: 31 December) 2009 2008 2007
Interim distribution on 30 June


CIMB-Principal Bond Fund (FYE: 31 December) 2009 2008 2007

CIMB-Principal Strategic Bond Fund (FYE: 31 December) 2009 2008 2007

CIMB-Principal Money Market Income Fund (FYE: 31 December) 2009 2008 2007
Distribution on 31 March
Distribution on 30 June
Distribution on 30 September
Distribution on 31 December
CIMB-Principal Equity Income Fund (FYE: 31 January) 2010 2009 2008
Distribution on 5 August 2009

Distribution on 18 September 2008

CIMB-Principal Global Growth Fund (FYE: 28 February)* 2010 2009 2008
145
CIMB-Principal Global Balanced Fund (FYE: 28 February)* 2010 2009 2008
CIMB-Principal Global Titans Fund (FYE: 31 March)

CIMB-Principal Emerging Asia Fund (FYE: 31 March)

CIMB-Principal Greater China Equity Fund (FYE: 30 April)

CIMB-Principal Global Asset Spectra Fund (FYE: 30 April)

CIMB-Principal ASEAN Equity Fund (FYE: 30 April)

CIMB-Principal Equity Growth & Income Fund (FYE: 30 April) 2010 2009 2008
No income distribution has been paid for the last three (3) financial years.
CIMB-Principal Equity Aggressive Fund 1 (FYE: 30 April) 2010 2009 2008

Distribution on 6 April 2007
Net distribution per unit (sen) 4.88 3.67
Gross distribution per unit (sen) 5.00 4.00
Forms of payment of distribution:
Reinvested into additional units in the relevant Fund at the NAV per unit of the relevant Fund on the distribution date. No
application fees are payable (the number of units is rounded down to the nearest two decimal places); or
By cheque.
Portfolio Turnover Ratio (PTR)
Portfolio turnover is a measure of the volume of trading undertaken by a fund in relation to the Funds size.
The formula for calculating portfolio turnover is as follows:
[total acquisitions of the unit trust scheme for the year + total disposal for the year] / 2
average net asset value for the unit trust scheme for the year calculated on a daily basis
The PTR for the last three (3) financial years are as follows:
Financial Year Ended 30 April 2009 30 April 2008 30 April 2007
CIMB-Principal Global Asset Spectra Fund 0.70 1.45 0.61
CIMB-Principal Greater China Equity Fund 0.21 0.66 -
CIMB-Principal ASEAN Equity Fund 2.25 1.78 -
CIMB-Principal Equity Growth & Income Fund 1.54 1.72 1.43
CIMB-Principal Equity Aggressive Fund 1 1.28 1.75 2.63
Financial Year Ended 31 May 2009 31 May 2008 31 May 2007
CIMB-Principal Asia Infrastructure Equity Fund Note 1 1.49 - -
CIMB-Principal Climate Change Equity Fund Note 2 0.08 0.62 -
CIMB-Principal MENA Equity Fund Note 3 0.37 - -
Financial Year Ended 30 June 2009 30 June 2008 30 June 2007

Note 4
CIMB-Principal Equity Fund 1.87 1.25 1.65
CIMB-Principal Asian Equity Fund Note 5 2.94 0.24 0.60
Financial Year Ended 31 August 2009 31 August 2008 31 August 2007

146
CIMB-Principal Deposit Fund Note 6 24.92 32.10 11.60
CIMB-Principal Balanced Income Fund Note 7 0.82 0.43 1.42
CIMB-Principal Lifecycle 2017 Note 8 0.11 1.34 -

Note 9
CIMB-Principal Lifecycle 2022 0.13 1.28 -
CIMB-Principal Lifecycle 2027 Note 10 0.29 1.55 -
Financial Year Ended 31 October 2009 31 October 2008 31 October 2007

Note 11
CIMB-Principal Equity Fund 2 0.54 0.40 0.90
Financial Year Ended 30 November 2009 30 November 2008 30 November 2007
CIMB-Principal Equity Growth Fund Note 12 1.89 1.63 2.34
Financial Year Ended 31 December 2009 31 December 2008 31 December 2007

Note 13
CIMB-Principal Balanced Fund 0.65 1.00 0.94
CIMB-Principal Equity Aggressive Fund 3 Note 14 0.80 1.15 1.19
CIMB-Principal Small Cap Fund Note 15 5.36 1.50 1.60

Note 16
CIMB-Principal Income Plus Balanced Fund 0.45 0.48 0.86
CIMB-Principal Bond Fund Note 17 0.48 0.27 0.71
CIMB-Principal Strategic Bond Fund Note 18 0.39 0.35 1.71
CIMB-Principal Money Market Income Fund Note 19 1.82 2.28 2.91
Financial Year Ended 31 January 2010 31 January 2009 31 January 2008
CIMB-Principal Equity Income Fund Note 20 1.96 2.69 2.16
Financial Year Ended 28 February 2010 28 February 2009 29 February 2008

Note 21
CIMB-Principal Global Growth Fund 0.36 0.27 0.45
CIMB-Principal Global Balanced Fund Note 22 0.38 0.40 0.66
Financial Year Ended 31 March 2010 31 March 2009 31 March 2008
CIMB-Principal Global Titans Fund Note 23 0.55 0.70 0.20

Note 24
CIMB-Principal Emerging Asia Fund 2.75 1.50 2.20
The audited figures as at 30 April 2010 are not yet available.
Notes:
Note 1
For AIEF, as this is a feeder fund, the turnover of the Fund of 1.49 reflects the full investment of cash in units of the
Invesco Asia Infrastructure Equity Fund. The future turnover is expected to come down as it will reflect only creations and
redemptions.
Note 2
For CCEF, the PTR of 0.08 times in 2009 as the turnover solely reflect the creations and redemptions in the Deutsche
DWS Invest Climate Change Fund. Turnover was higher in 2008 as it was the first year of the Fund and the turnover was
incurred in investing the proceeds of the Fund.
Note 3
For CMEF, the turnover of the Fund was a low 0.37 times as it reflects solely the creations and redemptions in the Societe
Generale OCEAN Equities MENA Opportunities Fund.
Note 4
For EF, the PTR was higher at 1.87 for the current financial year as we sold down the equity weighting to below 70% in
the 3rd Quarter of 2008 and subsequently increased equity allocation in March of 2009 as economies showed signs of
bottoming.
Note 5
For AEF, the PTR increased to 2.94 times from 0.24 times the previous year remaining due to switching into defensive
stocks in the crisis and increased weightings in growth stocks subsequently to latch on to the recovery.
Note 6
For DF, the PTR of the Fund ranged between 23.22 times and 32.10 times in the past 3 years. The drop is due to
placement of longer maturity in 2009 as compared to 2008. The strategy was prompted by the cut in the policy rate in
2009.
Note 7
For BIF, the PTR for the Fund increased from 0.43 to 0.82 in the year under review. This was mainly due to an increase in
transactions for both bonds and equity given the favourable market condition.
147
Note 8
For LF 2017, the PTR of the Fund dropped to 0.08 in 2009 from 1.34 previously as the Fund flows have stabilized and
rebalancing would only take place when necessary.
Notes 9
For LF 2022, the PTR of the Fund dropped to 0.13 in 2009 from 1.28 previously as fund flows have stabilized and
Note 10
For LF2027, the PTR of the Fund dropped to 0.29 in 2009 from 1.55 previously as fund flows have stabilized and
Note 11
For EF2, the PTR of the Fund increased to 0.54 from 0.40 previously owing to the strong market uptrend of the various
benchmark indices.
Note 12
For EGF, the PTR remained relatively similar to that of last year, where most repositioning made in the first half of the
year.
Note 13
For BF, the PTR declined to 0.69 times from 1.00 times for the year. This is mainly due to the Fund being well positioned
for 2009 in the prior year, hence there were less activities in 2009 itself.
Note 14
For EAF3, the PTR was slightly lower than that of last year, given that the Fund remained highly invested for most of the
year and where most repositioning made in the first half of the year.
Note 15
For SCF, the PTR for 12 months ending 31 December 2009 increased to 5.36 times from 1.50 times fro the same period
a year ago. The much higher PTR is partly due to changes in stock selections and overall fund equity exposure after the
market reversed in March 2009. In the second half of 2009, the portfolio was also restructured to partially benchmark the
portfolio.
Note 16
For IPBF, the PTR for the financial year under review was relatively flat at 0.45 times compared to the previous year as
similar levels of trading activities occurred in 2009.
Note 17
For BOF, the PTR for the financial year under review has increase slightly due to higher net asset value arising from
better performance of the corporate bond in the portfolio.
Note 18
For SBF, the PTR for the financial year under review was 0.39 times, just marginally higher than the previous PTR of 0.35
times in 2008.
Note 19
For MMIF, the PTR of the Fund was below 2 times in 2009. Being a money market fund and lack of corporate bond
supply, most bonds are held to maturity.
Note 20
For EIF, the PTR was maintained above 2.0x but at lower level compared to the previous year. The turnover was incurred
mainly in increasing weightings in the 1st Quarter of 2009 as the market bottomed.
Note 21
For GGF, the PTR was 0.36 times for the period under review. As long-term investors with a five-year time horizon, our
turnover has always been low. This results in lower transaction costs and greater tax-efficiency.
Note 22
For GBF, the PTR was 0.38 times for the period under review. As long-term investors with a five-year time horizon, our
Note 23
For GTF, the PTR was 0.55 times for the period under review. As long-term investors with a five-year time horizon, our
Note 24
For EMAF, the PTR increased because of the change in the portfolio from being defensive to aggressively positioned in
order to take advantage of the market recovery.
148
Asset Allocation
As at 31 May 2009 As at 31 May 2008 As at 31 May 2007
Liquid Liquid
A ssets & Assets &
Others Others
CIMB- 1.86% 0.24%
Principal
Climate N/A
Change Equity
Fund Note 1 Climate Climate
Change Change
Equity Fund Equity
98.14% 99.76%
Liquid
A ssets &
Liquid
Others
Assets &
Others 13.55%
CIMB- 5.19%
Principal Asia
Infrastructure N/A
Equity Fund Invesco
Note 2
A sia
Invesco Infrastructu
A sia
re Fund
Infrastructu
86.45%
re Fund
94.81%
Liquid
A ssets & Liquid
Others Assets &
17.80% Others
14.13%
CIMB-
Principal N/A
MENA Equity
Fund Note 3 Ocean
Ocean
Fund-
Fund -
Equities
Equities
M ENA
M ENA
Oppo rtuniti
Opportuniti
es
es
85.87%
82.20%
As at 30 June 2009 As at 30 June 2008 As at 30 June 2007

Liquid
Assets & Liquid Liquid
Others Assets & A ssets &
10.57% Others Others
21.01% 13.37%
CIMB-
Principal
Equity Fund
Note 4
M alaysian M alaysian
Shares Shares
M alaysian
78.99% 86.63%
Shares
89.43%
Liquid
Assets & Liquid
Liquid
Others Assets &
A ssets &
Others
CIMB- 3.63%
5.45%
Others
0.44%
Principal
Asian Equity
Fund Note 5
Fo reign
Foreign Shares Foreign
Shares 94.55% Shares
96.37% 99.56%
As at 31 August 2009 As at 31 August 2008 As at 31 August 2007

Liquid Liquid
Assets & Assets & Fixed
Others Others Income
100.00% 100.00% Securities
14.64%
CIMB-
Principal
Deposit Fund
Note 6
Liquid
A ssets &
Others
85.36%
149
Liquid
A ssets & Liquid Liquid
Others A ssets & A ssets & M alaysian
M alaysian Others
6.18% Fixed Others Shares
CIMB- Fixed
Income 3.64%
Shares
55.70%
11.80% 51.85%
Securities
Principal Inco me
40.66%
Securities
Balanced 35.06%
Income Fund Fixed
Note 7 Income
Securities
M alaysian 36.35%
Shares
58.76%
Liquid Liquid
A ssets & Assets &
Others REIT Others REIT
9.68% 4.74% 4.02% 4.44%
CIMB-
Principal N/A
Lifecycle 2017
Note 8 Collective
Co llective
Investment
Investment
Scheme
Scheme
91.54%
85.58%
Liquid
Liquid
A ssets &
A ssets &
Others REIT REIT
Others
4.33% 4.71% 4.20%
3.04%
CIMB-
Principal N/A
Lifecycle 2022
Note 9 Collective Co llective
Investment Investment
Scheme Scheme
90.96% 92.76%
Liquid
A ssets & Liquid
Others A ssets &
REIT Others REIT
4.01% 5.24%
4.59% 7.55%
CIMB- N/A
Principal
Lifecycle 2027
Note 10 Co llective Collective
Investment Investment
Scheme Scheme
91.40% 87.21%
As at 31 October 2009 As at 31 October 2008 As at 31 October 2007

Liquid Liquid
A ssets & Liquid Assets &
Others A ssets & Others
5.82% Others 4.07%
CIMB- 25.65%
Principal
Equity Fund 2
Note 11
M alaysian
M alaysian
M alaysian Shares
Shares
Shares 74.35%
95.93%
94.18%
As at 30 November 2009 As at 30 November 2008 As at 30 November 2007

Liquid
Liquid
CIMB- Assets &
Others
Liquid
A ssets &
A ssets &
M alaysian Others
Principal 7.09% Others Shares
Fo reign
Shares 5.85%
24.16%
Equity Growth 30.04%
27.99%
Fund Note 12
Fo reign
Shares
40.66%
M alaysian
Fo reign
M alaysian Shares
Shares
Shares 66.16%
45.80%
52.25%
150
As at 31 December 2009 As at 31 December 2008 As at 31 December 2007
Liquid Liquid Liquid
Assets & Assets & A ssets &
Others Others Fixed
Fixed Others
4.27% 1.98% Inco me
Inco me 6.31%
Fixed Securities
Securities Income 22.72%
CIMB- 25.58% Securities
Principal 38.01%
Balanced
Fund Note 13 M alaysian
M alaysian Shares
M alaysian
Shares 70.97%
Shares
60.01%
70.15%
Liquid
Liquid Liquid
Assets &
A ssets & A ssets &
Others
Others Others
3.26%
CIMB- 10.88% 6.46%
Principal
Equity
Aggressive
Fund 3 M alaysian M alaysian
Note 14 M alaysian
Shares Shares
Shares
89.12% 93.54%
96.74%
Liquid
Liquid
Assets & Liquid
Assets &
Others Assets &
Others
9.60% Others
9.60%
24.26%
CIMB-
Principal
M alaysian
Small Cap Shares
Fund Note 15 90.40%
Shares Shares
75.74% 90.40%
Liquid
Liquid Liquid
Assets &
M alaysian A ssets & A ssets &
Others
Shares Others M alaysian Others
3.21% M alaysian
40.01% 3.34% Shares 7.97% Shares
CIMB- 30.76%
41.53%
Principal
Income Plus Fixed
Balanced Inco me
Fixed
Securities Fixed
Fund Note 16 56.78% Inco me Inco me
Securities Securities
65.90% 50.50%

A ssets & A ssets & A ssets &
Others Others Others
5.75% 12.19% 8.44%
CIMB-
Principal
Bond Fund
Note 17
Fixed Fixed Fixed
Income Inco me Inco me
Securities Securities Securities
94.25% 87.81% 91.56%
Liquid Warrants & Liquid Liquid

Derivatives Warrants & Warrants &
A ssets & A ssets & Assets &
4.90% Derivatives Derivatives
4.40% 4.66%
5.07% 8.55% 10.55%
CIMB-
Unit Trust
Principal Fund
Strategic 0.46%
Bond Fund
Note 18 Fixed Fixed
Fixed Income Inco me
Income Securities Securities
Securities 87.05% 84.33%
90.03%
Liquid Liquid
Liquid
A ssets & A ssets &
A ssets &
Others Others
Others
19.37% 7.02%
23.66%
CIMB-
Principal
Money Market
Income Fund Fixed
Note 19 Fixed
Inco me Fixed Inco me
Securities Income Securities
80.63% Securities 76.34%
92.98%
151
As at 31 January 2010 As at 31 January 2009 As at 31 January 2008
Liquid
Others A ssets & Assets &
M alaysian
5.75% Others Others
Shares
CIMB- 20.38% 20.13%
52.16%
Principal
Equity Income
Fund Note 20
Foreign
Foreign M alaysian
M alaysian Shares
Shares Shares
Foreign Shares 27.71%
49.20% 45.05%
Shares 36.88%
42.74%
As at 29 February 2010 As at 28 February 2009 As at 28 February 2008

Liquid
Liquid
A ssets & Liquid
Assets &
Others Assets &
Others
1.17% Others
5.35%
2.84%
CIMB-
Principal
Global Growth
Fund Note 21 Fo reign Fo reign
Fo reign
Shares Shares
Shares
98.83% 94.65%
97.16%
Liquid Liquid
Liquid
A ssets & Assets &
Assets &
Others Others Fo reign
Others Fo reign
5.40% 1.67%
CIMB- 16.70% Shares
Shares
50.50%
41.65%
Principal
Global
Balanced Fixed Fixed
Fund Note 22 Income
Fo reign
Fixed
Inco me
Income
Securities Securities
Shares Securities
58.15% 47.83%
36.45% 41.65%
As at 31 March 2010 As at 31 March 2009 As at 31 March 2008

Liquid
A ssets & Liquid
Liquid
Others Assets & P GI Unit
PGI Unit A ssets &
6.59% Others Trust
Trusts Others
48.99% 51.01%
51.94% 48.06%
CIMB-
Principal
Global Titans
Fund Note 23
P GI Unit
Trusts
93.41%
Liquid
Liquid Liquid
Assets &
A ssets & Assets & M alaysian
Others M alaysian
Others Others Shares
13.26% Shares
4.29% 4.13% 5.36%
3.01%
CIMB-
Principal
Emerging Asia
Fund Note 24 Fo reign
Foreign
Fo reign Shares
Shares
Shares 92.70%
90.51%
86.74%
As at 30 April 2010 As at 30 April 2009 As at 30 April 2008

Liquid
Others A ssets & A ssets &
4.00% Others Equity Others
2.16% 9.49% 0.35%
CIMB-
Principal
Global Asset
Spectra Fund
M utual M utual M utual
Fund Fund Fund
96.00% 97.84% 90.16%
152
As at 30 April 2010 As at 30 April 2009 As at 30 April 2008
Liquid
Others A ssets & A ssets &
3.68% Others Others
4.57% 1.20%
CIMB-
Principal
Greater China
Equity Fund
M utual M utual M utual
Fund Fund Fund
96.32% 95.43% 98.80%
Liquid
Liquid Liquid A ssets &
Assets & A ssets & Others
M alaysian
Others Others 4.76%
Shares
4.00% 20.33%
23.39%
CIMB-
Principal
ASEAN Equity
Fund Note 25 Fo reign Foreign
Shares Shares
Fo reign 56.28% 95.24%
Shares
96.00%

Others Others Foreign Others
Shares Shares
7.42% 10.27% Shares 1.66%
43.21% 43.14%
CIMB- 21.53%
Principal
Equity Growth
& Income Fo reign
M alaysian
Fund Fo reign Shares
Shares
Shares 46.59%
76.81%
49.37%

7.25% 12.78% 4.31%
CIMB-
Principal
Equity
Aggressive
M alaysian
Fund 1 M alaysian
Shares
M alaysian
Shares
Shares
87.22% 95.69%
92.75%
Notes:
Note 1
For CCEF, the Fund was 98.1% invested in the Deutsche DWS Invest Climate Change Fund at the end of the period. The
Fund has a policy of maintaining a maximum of 5.0% cash level at all times.
Note 2
For AIEF, the Fund was 94.8% invested in the Invesco Asia Infrastructure Equity Fund as at 31 May 2009. The Fund has
a mandate of being at least 95% invested at all times. The 94.8% weighting was due to incoming cash from creations.
The cash was invested subsequent to year end.
Note 3
For CMEF, the Fund was at 82.20% invested in the OCEAN Fund Equities MENA Opportunities Fund at the end of the
period largely due to an inflow of cash from creations at that point. The Fund has reinvested the proceeds and normally
maintains a maximum of 5.0% cash level.
Note 4
For EF, as at 30 June 2009, the Fund was 89.4% invested in equities up from 79% a year ago. But in the intervening
period, the equity allocation was reduced to below 70% and subsequently increased again.
Note 5
For AEF, the asset allocation reflects that we are fully invested in the portfolio, cash position reduced from 5.45% to
3.63%.
Note 6
For DF, all the cash in the Fund was placed in deposits with banking institutions.
Note 7
For BIF, the Fund closed the period under review with equity holdings of 58.76%. Though there were movements to this
weighting within the period, equity weightings were increased as we progressively accumulated stocks which were trading
at extremely attractive valuations from October/November 2008 after the major correction.
Note 8
For LF2017, investment in collective investment schemes decreased to 85.58% from 91.54% previously. Holdings of
liquid assets increased to 9.68% from 4.02 previously owing to creation. The additional liquidity will be invested to ride on
the recovery in the capital markets.
153
Note 9
For LF2022, investment in collective investment schemes decreased from 90.96% from 92.76% previously. Holdings of
liquid assets increased to 4.33% from 3.04% previously owing to creation. The additional liquidity will be invested to ride
on the recovery in the capital markets.
Note 10
For LF2027, investment in collective investment schemes increased to 91.40% from 87.21% previously. Investment in
REITs Holdings and liquid assets declined to 4.59% and 4.01% respectively from 5.24% and 7.55% previously. Higher
exposure to unit trust funds is to capitalize on the recovery of the capital markets.
Note 11
For EF2, the high asset allocation of 94.18% is to try to capture the rally in the local bourse. This is significantly higher
than 74.35% the year before, in which, was the peak period of the global financial crisis.
Note 12
For EGF, asset allocation was held at 90% +/- 5% for most periods throughout the year given our more optimistic outlook
for the market.
Note 13
For BF, equity holdings were approximately 70% given our more optimistic outlook for the market an increase of 10.14%
from the previous period.
Note 14
For EAF3, asset allocation was held at 90% +/- 5% for most periods throughout the year given our more optimistic outlook
for the market. We ended the year above 95% due to price appreciation.
Note 15
For SCF, equity exposure was raised to 90% as at end 31 December 2009, compared with 76% a year ago. The equity
exposure was raised in early 2009 to participate in the strong market rebound as economic indicators showed signs of
recovery.
Note 16
For IPBF, equity holdings were approximately 40% given our more optimistic outlook for the market an increase of
9.25% from the previous period. In line with our fixed income strategy, we will maintain fully invested in the corporate
bond market with some liquidity to participate in primary issues.
Note 17
For BOF, as at 31 December 2009, about 94.25% of the Funds assets were invested in fixed income securities compared
to 87.81% previously. Liquidity is maintained for the Fund to take advantage of primary issues as well as to facilitate any
redemption.
Note 18
For SBF, as at 31 December 2009, about 90.03% of the Funds assets were invested in fixed income securities versus
87.05% in the previous year. About 4.90% was invested in quoted investments, slight increase from the previous 4.40%.
Liquidity is maintained for the Fund to facilitate any redemption.
Note 19
For MMIF, cash was higher at approximately 20% in 2009 due to lack of corporate bond supply, significant increase in
NAV and reinvestment difficulties.
Note 20
For EIF, the total equity allocation increased from 80% to 94% to take advantage of stronger equity markets.
Note 21
For GGF, the portfolio construction is based on bottom-up stock selection. During the period in question, our quest for
value led us to emphasize the information technology, health care and telecommunications sector.
Note 22
For GBF, the portfolio construction is based on bottom-up stock selection. During the period in question, our quest for
value led us to emphasize the information technology, health care and telecommunications sector.
Note 23
For GTF, the Fund was overweight in equities relative to the benchmark as at 31 March 2010.
Note 24
For EMAF, the portfolio was 86.74% invested in equities, slightly lower than the previous year because of timing issues.
Since April, the Fund has increased its asset allocation to equities above 90%.
Note 25
For ASEF, the equity allocation increased from 79.67% as at 30 Apr 2009 to 96.00% as at 30 Apr 2010 as we raised
equity allocation in May 2009 in view of the recovering stock markets in Asia. The rise was led by China as the countrys
economic stimulus via monetary and fiscal policies gained traction and the developed economies began to
stabilise. Chinas economic fundamentals improved on the back of an uptick in public sector investment, a rebound in
private housing investment and stablisation in external trade activities.
Past performance of the Funds is not an indication of its future performance.
154
Historical Highlights of the Funds
Financial Statements of the Funds
CIMB-Principal Asia Infrastructure Equity Fund FYE: 31 May

18.03.2008 (date of
commencement) to
Income Statement 2010 31.05.2009
RM000 RM000
Total investment income (1,148)
Total expenses - 96,612
Net (loss)/income before taxation - (1,244)
Increase/(decrease) in net assets attributable to Unit holders - (1,244)
Statement of assets and liabilities

2010 2009
RM000 RM000
Total investment - 5,061
Total other assets - 345
Total assets - 5,406
Total liabilities - 88
Net assets attributable to Unit holders - 5,318
Note: The latest audited financial statements as at 31 May 2010 for CIMB-Principal Asia Infrastructure Equity Fund are not yet
available.
CIMB-Principal Climate Change Equity Fund FYE: 31 May
For the financial

period from
27.09.2007 (date
01.06.2008 of
to commencement)
Income Statement 2010 31.05.2009 to 31.05.2008
RM'000 RM000 RM000
Total investment income - (6,730) 3,463
Total expenses - 774 951
Net (loss)/income before taxation - (7,504) 2,513
Increase/(decrease) in net assets attributable to Unit holders - (7,504) 2,513

2010 2009 2008
RM'000 RM000 RM000
Total investment - 47,347 88,903
Total other assets - 1,031 313
Total assets - 48,377 89,268
Total liabilities - 221 96
Net assets attributable to Unit holders - 48,156 89,121
Note: The latest audited financial statements as at 31 May 2010 for CIMB-Principal Climate Change Equity Fund are not yet
available.
CIMB-Principal MENA Equity Fund FYE: 31 May
19.05.2009 (date
of
commencement)
Income Statement 2010 to 31.05.2009
RM000 RM000
Total investment income - (11,276)
Total expenses - 3,409
Net (loss)/income before taxation - (14,685)
Increase/(decrease) in net assets attributable to Unit holders - (14,685)
155
2010 2009
RM000 RM000
Total investment - 131,924
Total other assets - 9,570
Total assets - 141,494
Total liabilities - 5,358
Net assets attributable to Unit holders - 136,135
Note: The latest audited financial statements as at 31 May 2010 for CIMB-Principal MENA Equity Fund are not yet available.
CIMB-Principal Equity Fund FYE: 30 June
Income Statement 2009 2008 2007

RM000 RM'000 RM'000
Total investment income (20,573) 32,087 72,949
Total expenses 3,202 3,143 3,149
Net (loss)/income before taxation (39,538) 22,640 69,800
Increase/(decrease) in net assets attributable to Unit holders (40,486) 20,953 63,126

2009 2008 2007
RM000 RM'000 RM'000
Total investments 239,387 153,823 153,555
Total other assets 34,439 41,475 22,263
Total assets 273,826 195,298 180,708
Total liabilities 6,138 561 3,461
Net assets attributable to Unit holders 267,688 194,737 177,247
CIMB-Principal Asian Equity Fund FYE: 30 June

RM'000 RM'000 RM'000
Net(loss)/income before taxation (25,103) 10,978 5,856
Statement of assets and liabilities 2009 2008 2007

RM'000 RM'000 RM'000
Total investment 81,782 93,543 152,985
Total assets 85,478 99,562 156,353
Total liabilities 616 623 2,695
CIMB-Principal Deposit Fund FYE: 31 August

RM000 RM000 RM000
Total investment income 12,336 7,399 5,522
Total expenses 2,420 1,143 869
Net (loss)/income before taxation (32) (207) 97
Increase/(decrease) in net assets attributable to Unit holders (32) (207) 97

2009 2008 2007
RM000 RM000 RM000
Total other assets 456 2,961 121
156
Total assets 338,024 319,659 189,580
CIMB-Principal Balanced Income Fund FYE: 31 August

RM000 RM'000 RM'000
Net (loss)/income before taxation (9,581) (5,596) 34,858
Increase/(decrease) in net assets attributable to Unit holders (10,248) (6,576) 33,557

2009 2008 2007
RM000 RM'000 RM'000
Total assets 327,916 212,745 235,999
Total liabilities 5,448 1,144 2,509
CIMB-Principal Lifecycle 2017 FYE: 31 August

Financial period
from 12.07.2007
(date of
01.09.2008 to commencement)
Income Statement 31.08.2009 to 31.08.2008
RM000 RM000
Total investment income 132 79
Total expenses 2 2,239
Net (loss)/income before taxation 130 76
Increase/(decrease) in net assets attributable to Unit holders 129 75

2009 2008
RM000 RM000
Total investment 2,662 2,176
Total other assets 107 92
Total assets 2,769 2,268
Total liabilities 155 697
Net assets attributable to Unit holders 2,769 2,267
Financial period
from 12.07.2007
(date of
RM000 RM000
Total expenses 1 1
Net (loss)/income before taxation 67 47

2009 2008
RM000 RM000
Total investment 1,587 1,381
Total assets 1,657 1,425
157
Total liabilities 93 642
Net assets attributable to Unit holders 1,657 1,424
Financial period
from 12.07.2007
(date of
RM000 RM000
Total expenses 0.5 0.5
Net (loss)/income before taxation (0.15) (0.3)

2009 2008
RM000 RM000
Total investment 560 313
Total assets 613 339
Total liabilities 0.3 0.15
Net assets attributable to Unit holders 613 339
CIMB-Principal Equity Fund 2 FYE: 31 October

RM000 RM'000 RM'000
Net (loss)/income before taxation (14,720) 22,123 86,507

2009 2008 2007
RM000 RM'000 RM'000
Total assets 198,886 142,283 279,500
CIMB-Principal Equity Growth Fund FYE: 30 November

RM000 RM000 RM000
Total investment income 2,879 (3,820) 48,162
Total expenses 907 1,057 1,683

2009 2008 2007
RM000 RM000 RM000
Total assets 49,457 32,312 69,600
158
CIMB-Principal Balanced Fund FYE: 31 December

RM000 RM000 RM000

2009 2008 2007
RM000 RM000 RM000
Total assets 74,915 54,759 98,275
Total liabilities 853 4,954 1,334
CIMB-Principal Equity Aggressive Fund 3 FYE: 31 December

RM000 RM000 RM000
Net (loss)/income before taxation 862 (7,255) 27,758
Increase/(decrease) in net assets attributable to Unit holders 180 (7,695) 26,890

2009 2008 2007
RM000 RM000 RM000
Total assets 115,234 80,049 148,116
Total liabilities 284 283 497
CIMB-Principal Small Cap Fund FYE: 31 December

RM000 RM000 RM000
Total investment income (727) (773) 8,039
Total expenses 361 203 280
Net (loss)/income before taxation (1,087) (976) 7,759

2009 2008 2007
RM000 RM000 RM000
Total assets 116,668 6,727 14,792
Total liabilities 10,219 89 607
CIMB-Principal Income Plus Balanced Fund FYE: 31 December

RM000 RM000 RM000
Net (loss)/income before taxation 2,852 (7,084) 3,956
159
Increase/(decrease) in net assets attributable to Unit holders 2,659 (7,206) 3,493

2009 2008 2007
RM000 RM000 RM000
Total assets 86,269 74,996 112,271
Total liabilities 750 2,115 2,328
CIMB-Principal Bond Fund FYE: 31 December

RM000 RM000 RM000
Net (loss)/income before taxation 4,472 388 1,696
Increase/(decrease) in net assets attributable to Unit holders 4,472 388 1,696

2009 2008 2007
RM000 RM000 RM000
Total assets 221,916 185,567 213,510
Total liabilities 1,406 2,186 1,110
CIMB-Principal Strategic Bond Fund FYE: 31 December

RM000 RM000 RM000
Net (loss)/income before taxation (387) (504) (133)
Increase/(decrease) in net assets attributable to Unit holders (387) (514) (133)

2009 2008 2007
RM000 RM000 RM000
Total assets 44,635 54,210 79,298
CIMB-Principal Money Market Income Fund FYE: 31 December

RM000 RM000 RM000
Net (loss)/income before taxation (1,800) 121 (391)
Increase/(decrease) in net assets attributable to Unit holders (1,800) 121 (391)
160
2009 2008 2007
RM000 RM000 RM000
Total assets 606,950 277,105 199,844
Total liabilities 16,988 2,608 627
CIMB-Principal Equity Income Fund FYE: 31 January

RM000 RM000 RM000
Total investment income 12.892 (21,144) 36,262
Increase/(Decrease) in net assets attributable to Unit holders 6,941 (26,790) 26,402

2010 2009 2008
RM000 RM000 RM000
Total assets 69,761 51,492 109,491
Total liabilties 570 275 385
CIMB-Principal Global Growth Fund FYE: 28 February
Income Statement Year Year Year

ended ended ended
28.02.10 28.02.09 29.02.08
RM000 RM000 RM000
Total investment income (10,400) (6,812) 21,356
*29 February in the event of a leap year

2010 2009 2008
RM000 RM000 RM000
Total assets 86,728 76,807 139,950
CIMB-Principal Global Balanced Fund FYE: 28 February*

RM'000 RM000 RM000
Total investment income 964 (7,478) 15,404
Net (loss)/income before taxation (336) (9,132) 12,209
Increase/(decrease) in net assets attributable to Unit holders (604) (9,551) 11,667
*29 February in the event of a leap year

2010 2009 2008
RM'000 RM000 RM000
161
Total assets 60,234 59,049 108,801
CIMB-Principal Global Titans Fund FYE: 31 March

RM000 RM000 RM000
Total expenses 681 701 1,183
Net (loss)/income after taxation (4,389) 1,635 30,052

2010 2009 2008
RM000 RM000 RM000
Total assets 40,721 40,109 61,171
CIMB-Principal Emerging Asia Fund FYE: 31 March

RM000 RM000 RM000
Increase/(decrease) in net assets attributable to Unit holders 1,139 (16,175) 9,021

2010 2009 2008
RM000 RM000 RM000
Total assets 53,137 31,215 55,429
Total liabilities 1,711 612 222
CIMB-Principal Global Asset Spectra Fund FYE: 30 April

RM000 RM000 RM000
Total investment income - 4,984 1,288
Net (loss)/Income before taxation - 4,216 320
Increase/(decrease) in net assets attributable to Unit holders - 4,216 320

2010 2009 2008
RM000 RM000 RM000
Total other assets - 926 1,463
Total assets - 35,720 60,650
Total liabilities - 121 1,205
Note: The latest audited financial statements as at 30 April 2010 for CIMB-Principal Global Asset Spectra Fund are not yet
available.
162
CIMB-Principal Equity Growth & Income Fund FYE: 30 April

RM000 RM'000 RM'000
Total expenses - 1,838 2,643

2010 2009 2008
RM000 RM'000 RM'000
Total other assets - 11,126 16,880
Total assets - 93,860 137,082
Total liabilities - 1,652 380
Note: The latest audited financial statements as at 30 April 2010 for CIMB-Principal Equity Growth & Income Fund are not yet
available.
CIMB-Principal Equity Aggressive Fund 1 FYE: 30 April

RM000 RM000 RM000

2010 2009 2008
RM000 RM000 RM000
Total Investment - 83,619 101,021
Total assets - 97,364 126,232
Note: The latest audited financial statements as at 30 April 2010 for CIMB-Principal Equity Aggressive Fund 1 are not yet available.
CIMB-Principal Greater China Equity Fund FYE: 30 April

For the financial
period from
04.07.2007 (date
of
commencement)
Income Statement 2010 2009 to 30.04.2008
RM'000 RM000 RM000
Total investment income - 24,520 (35,476)
Net (loss)/income before taxation - 21,162 (36,900)
Increase/(decrease) in net assets attributable to Unit holders - 21,162 (36,901)

2010 2009 2008
RM'000 RM000 RM000
Total investments - 326,036 450,000
Total assets - 345,332 455,606
163
Note: The latest audited financial statements as at 30 April 2010 for CIMB-Principal Greater China Equity Fund are not yet
available.
CIMB-Principal ASEAN Equity Fund FYE: 30 April

For the
financial
period from
01.05.2008 03.10.2007
to to
Income Statement 2010 30.04.2009 30.04.2008
RM'000 RM000 RM000
Total investment income - (9,559) (4,338)
Net (loss)/income before taxation - (10,206) (4,829)
Increase/(decrease) in net assets attributable to Unit holders - (10,300) (4,922)

2010 2009 2008
RM'000 RM000 RM000
Total investments - 20,544 41,148
Total assets - 25,278 44,027
Total liabilities - 56 719
Note: The latest audited financial statements as at 30 April 2010 for CIMB-Principal ASEAN Equity Fund are not yet available.
Total Annual Expenses

The following table reflects the total annual expenses incurred by the Funds in the preceding financial year/period:
Total annual
Management Fee Trustee Fee Other expenses
Funds expenses
RM % RM % RM % RM %
CIMB-Principal Global Asset Spectra
706,491 1.98 31,288 0.09 29,755 0.08 767,534 2.15
Fund
CIMB-Principal Greater China Equity
3,062,019 0.89 263,492 0.08 32,488 0.01 3,357,999 0.98
Fund
CIMB-Principal ASEAN Equity Fund 543,609 2.15 24,160 0.10 78,674 0.31 646,443 2.56
CIMB-Principal Equity Growth &
1,479,082 1.60 235,644 0.26 123,709 0.13 1,838,435 1.99
Income Fund
CIMB-Principal Equity Aggressive
1,419,789 1.48 56,792 0.06 33,342 0.04 1,515,923 1.58
Fund 1
As at 31 May 2009, in %
CIMB-Principal Asia Infrastructure
79,023 1.49 5,296 0.10 12,293 0.23 96,612 1.82
Equity Fund
CIMB-Principal Climate Change
711,433 1.48 44,025 0.09 18,610 0.03 774,068 1.61
Equity Fund
CIMB-Principal MENA Equity Fund 3,240,197 2.38 144,009 0.11 24,422 0.02 3,408,628 2.51
As at 30 June 2009*, in %
CIMB-Principal Equity Fund 3,053,593 1.14 75,358 0.03 72,677 0.03 3,201,628 1.20
CIMB-Principal Asian Equity Fund 1,411,962 1.66 26,713 0.03 218,457 0.26 1,657,132 1.95
CIMB-Principal Deposit Fund 2,066,871 0.61 321,513 0.10 31,140 0.01 2,415,024 0.72
CIMB-Principal Balanced Income
3,173,631 0.98 71,303 0.02 109,007 00.3 3,353,941 1.03
Fund
CIMB-Principal Lifecycle 2017 - - 1,774 0.03 193 0.01 1,967 0.04
CIMB-Principal Lifecycle 2022 - - 1,018 0.06 313 0.02 1,331 0.08
CIMB-Principal Lifecycle 2027 - - 201 0.07 270 0.08 471 0.15
CIMB-Principal Equity Fund 2 2,414,975 1.23 66,770 0.03 64,603 0.03 2,546,348 1.29
164
CIMB-Principal Equity Growth Fund 723,337 1.23 66,770 0.03 64,603 0.03 2,546,348 1.29
CIMB-Principal Balanced Fund 1,149,974 1.55 49,729 0.07 20,199 0.03 1,219,902 1.65
CIMB-Principal Equity Aggressive
1,782,562 1.55 77,083 0.07 25,763 0.02 1,885,408 1.64
Fund 3
CIMB-Principal Small Cap Fund 312,217 0.29 25,700 0.02 23,062 0.02 360,889 0.33
CIMB-Principal Income Plus
1,437,609 1.68 62,540 0.07 27,100 0.03 1,527,249 1.78
Balanced Fund
CIMB-Principal Bond Fund 1,894,290 0.86 94,714 0.04 18,895 0.01 2,007,899 0.91
CIMB-Principal Strategic Bond Fund 478,581 1.09 23,929 0.05 21,291 0.05 523,801 1.19
CIMB-Principal Money Market
2,709,481 1.76 193,551 0.04 28,427 0.01 2,931,459 0.51
Income Fund
CIMB-Principal Equity Income Fund 1,217,157 1.76 95,444 0.14 96,316 0.14 1,408,917 2.04
As at 28 February 2010, in %
CIMB-Principal Global Growth Fund 1,647,735 1.91 125,244 0.15 39,541 0.04 1,812,520 2.10
CIMB-Principal Global Balanced
1,179,009 1.97 90,838 0.15 30,167 0.05 1,300,014 2.17
Fund
CIMB-Principal Global Titans Fund 616,807 1.52 30,410 0.08 33,877 0.08 681,094 1.68
CIMB-Principal Emerging Asia Fund 715,600 1.42 48,180 0.09 49,142 0.10 812,922 1.61
Management Expense Ratio (MER)

The following table reflects the management expense ratio (MER) of the Funds for the three (3) most recent financial years:
Financial Year Ended 30 April 2009 30 April 2008 30 April 2007
CIMB-Principal Global Asset Spectra Fund 1.71 1.00 0.45
CIMB-Principal Greater China Equity Fund 1.02 0.45 -
CIMB-Principal ASEAN Equity Fund 2.14 1.11 -
CIMB-Principal Equity Growth & Income Fund 1.33 1.69 1.65
Financial Year Ended 31 May 2009 31 May 2008 31 May 2007
CIMB-Principal Asia Infrastructure Equity Fund 1.58 - -
CIMB-Principal Climate Change Equity Fund 1.41 0.68 -
CIMB-Principal MENA Equity Fund 0.84 - -
Financial Year Ended 30 June 2009 30 June 2008 30 June 2007
CIMB-Principal Equity Fund 1.57 1.56 1.57
CIMB-Principal Asian Equity Fund 2.17 2.05 1.83
Financial Year Ended 31 August 2009 31 August 2008 31 August 2007
CIMB-Principal Deposit Fund 0.53 0.54 0.54
CIMB-Principal Balanced Income Fund 1.61 1.56 1.56
Financial Year Ended 31 October 2009 31 October 2008 31 October 2007
CIMB-Principal Equity Fund 2 1.58 1.56 1.55
Financial Year Ended 30 November 2009 30 November 2008 30 November 2007
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CIMB-Principal Equity Growth Fund 2.35 2.09 2.03
Financial Year Ended 31 December 2009 31 December 2008 31 December 2007
CIMB-Principal Balanced Fund 2.29 2.00 1.96
CIMB-Principal Small Cap Fund 1.70 2.00 1.70
CIMB-Principal Income Plus Balanced Fund 1.92 2.00 1.96
CIMB-Principal Bond Fund 1.06 1.07 1.06
CIMB-Principal Strategic Bond Fund 1.10 1.09 1.06
CIMB-Principal Money Market Income Fund 0.78 0.76 0.76
Financial Year Ended 31 January 2010 31 January 2009 31 January 2008
CIMB-Principal Equity Income Fund 2.19 2.06 2.00
Financial Year Ended 28 February 2010 28 February 2009 29 February 2008
CIMB-Principal Global Growth Fund 2.02 2.01 2.05
CIMB-Principal Global Balanced Fund 2.03 2.02 2.06
Financial Year Ended 31 March 2010 31 March 2009 31 March 2008
CIMB-Principal Global Titans Fund 1.58 1.40 1.01
CIMB-Principal Emerging Asia Fund 1.67 1.77 1.61
Note:
The latest audited figures as at 30 April 2010 are not yet available.
The audited financial statements of the Funds are disclosed in the respective Funds annual report and are available upon
request.
Past performance of the Funds is not an indication of the Funds future performance. The Funds annual reports are
available upon request.
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Fees, Charges and Expenses
Charges
The following describes the charges that you may directly incur when you buy or redeem units in the Funds.
Application Fee
Application Fee will be imposed based on the NAV per unit and may differ between distribution channels.
Maximum Application Fee (% of the NAV per unit)*

CWA Other IUTAs
% %
Equity Funds
CIMB-Principal Equity Fund 6.5 6.5
CIMB-Principal Equity Fund 2 6.5 6.5
CIMB-Principal Equity Growth Fund 6.5 6.5
CIMB-Principal Equity Growth & Income Fund 6.5 6.5
CIMB-Principal Equity Income Fund 6.5 6.5
CIMB-Principal Small Cap Fund 6.0 6.0
Mixed Asset Funds

CIMB-Principal Balanced Fund 5.0 5.0
CIMB-Principal Balanced Income Fund 6.5 6.5
CIMB-Principal Income Plus Balanced Fund 5.0 5.0
CIMB-Principal Bond Fund 2.0 2.0

CIMB-Principal Strategic Bond Fund 2.0 2.0
CIMB-Principal Deposit Fund Nil Nil
CIMB-Principal Money Market Income Fund Nil Nil
CIMB-Principal Asia Infrastructure Equity Fund** 6.5 5.5

CIMB-Principal ASEAN Equity Fund 6.5 6.5
CIMB-Principal Asian Equity Fund 6.5 6.5
CIMB-Principal Climate Change Equity Fund** 6.5 5.5
CIMB-Principal Emerging Asia Fund 5.0 5.0
CIMB-Principal Global Asset Spectra Fund** 6.5 6.5
CIMB-Principal Global Balanced Fund 6.5 6.5
CIMB-Principal Global Growth Fund 6.5 6.5
CIMB-Principal Global Titans Fund** 5.5 5.5
CIMB-Principal Greater China Equity Fund** 5.5 5.5
CIMB-Principal Lifecycle Funds 6.5 6.5
CIMB-Principal MENA Equity Fund** 6.5 5.5
* Notwithstanding the maximum Application Fee disclosed above, investors may negotiate with the distributors for lower charges.
Please note that investors investing via EPF Members Investment Scheme will only be charged a maximum Application Fee of 3%
of the NAV per unit.
** CIMB-Principal Global Titans Funds, CIMB-Principal Global Asset Spectra Funds, CIMB-Principal Greater China Equity Funds,
CIMB-Principal Climate Change Equity Funds, CIMB-Principal MENA Equity Funds and CIMB-Principal Asia Infrastructure Equity
Funds investments into their respective Target Funds will be at the Target Funds net asset value, or if any application fee is
imposed at the Target Fund level, it will be rebated back to the Fund in full. Hence, there is no double-charging of application fees.
Note: Please refer to the Calculation of investment amount and units entitlement section in the Transaction Information chapter
for an illustration on how the Application Fee is calculated. The Application Fee imposed will be rounded using the normal rounding
policy to two (2) decimal places.
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Withdrawal Fee
No Withdrawal Fee is charged on withdrawals from any of the Funds except for the following:
A Withdrawal Fee of up to 1.0% of the NAV per unit is levied on a withdrawal made within two (2) years from the date the
investment is accepted by the Manager. The Withdrawal Fee may differ between distribution channels. All Withdrawal Fees borne
by Unit holders will be retained by the relevant Funds.
Maximum Withdrawal Fee (% of NAV per unit) *

Distribution Channels
First year Second year Subsequent years
CWA Up to 1.0% Up to 0.5% Nil
Other Institutional Unit Trust Agents (IUTAs) Up to 1.0% Up to 0.5% Nil
* Notwithstanding the maximum Withdrawal Fee disclosed above, investors may negotiate with the distributors for lower charges.
Note: Please refer to the Calculation of investment amount and units entitlement section in the Transaction Information chapter
for an illustration on how the Withdrawal Fee is calculated. The Withdrawal Fee imposed will be rounded using the normal rounding
policy to two (2) decimal places.
Dilution fee / transaction cost factor

Save and except for AIEF, CCEF, GASF, GTF, GCEF, LF and CMEF, no dilution fee/transaction cost factor is charged on
withdrawals from any of the Funds.
Switching Fee
Since switching is treated as a withdrawal from one (1) fund and an investment into another fund, you will be charged a Switching
Fee equal to the difference (if any) between the Application Fees of these two (2) funds.
For example, you had invested in a fund with an Application Fee of 2.0% on the NAV per unit and now wish to switch to another
fund which has an Application Fee of 5.5% on the NAV per unit. Hence, you will be charged a Switching Fee of 3.5% on the NAV
per unit on the amount switched.
In addition, the Manager imposes a RM100 administrative fee for every switch made out of a CIMB-Principal fund. However, this
RM100 administrative fee is waived for the first four (4) switches out of a Fund in every calendar year. However, the Manager has
the discretion to waive the Switching Fee and/or administrative fees.
Switching may also be subject to a withdrawal charge should the fund to be switched out from impose a Withdrawal Fee.
Transfer Fee
A Transfer Fee of not more than RM50.00 may be charged for each transfer.
Fees and Expenses

The following describes the fees that you may indirectly incur when you invest in the Funds.
Management Fee
Table below stipulates the annual Management Fee charged for each Fund, based on NAV of the Fund. The Management Fee
shall be accrued daily based on the NAV of the Fund and paid monthly.
Funds Management Fee (% p.a. of the NAV of the Fund)
Equity Funds
CIMB-Principal Equity Fund 1.50

CIMB-Principal Equity Fund 2 1.50
CIMB-Principal Equity Aggressive Fund 1 1.50
CIMB-Principal Equity Aggressive Fund 3 1.85
CIMB-Principal Equity Growth Fund 1.85
CIMB-Principal Equity Growth & Income Fund 1.50
CIMB-Principal Equity Income Fund 1.85
CIMB-Principal Small Cap Fund 1.50
Mixed Asset Funds

CIMB-Principal Balanced Fund 1.85
CIMB-Principal Balanced Income Fund 1.50
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CIMB-Principal Income Plus Balanced Fund 1.85
CIMB-Principal Bond Fund 1.00

CIMB-Principal Strategic Bond Fund 1.00
CIMB-Principal Deposit Fund 0.45
CIMB-Principal Money Market Income Fund 0.70
CIMB-Principal Asia Infrastructure Equity Fund 1.80

CIMB-Principal ASEAN Equity Fund 1.80
CIMB-Principal Asian Equity Fund 1.85
CIMB-Principal Climate Change Equity Fund 1.80
CIMB-Principal Emerging Asia Fund 1.50
CIMB-Principal Global Asset Spectra Fund 1.80
CIMB-Principal Global Balanced Fund 1.85
CIMB-Principal Global Growth Fund 1.85
CIMB-Principal Global Titans Fund 1.80
CIMB-Principal Greater China Equity Fund 1.80
CIMB-Principal Lifecycle Funds 1.80
CIMB-Principal MENA Equity Fund 1.80
Illustration on how the Management Fee is calculated
Management Fee for the day = NAV of the Fund x Management Fee rate for the Fund (%) / 365 days
If the NAV of the CIMB-Principal Bond Fund is RM500 million, then

Management Fee for the day = RM500 million x 1.00% / 365
= RM13,698.63
Where a Fund invests in ETFs or other collective investment schemes managed by the Manager:
All initial charges on those ETFs or other collective investment schemes must be waived; and
Management Fee must only be charged once, either at the Fund level or the ETF or other collective investment scheme level.
Please note that although 50% - 95% of the NAV of CIMB-Principal Global Titans Fund and at least 95% of the NAV of CIMB-
Principal Global Asset Spectra Fund, CIMB-Principal Greater China Equity Fund, CIMB-Principal Climate Change Equity Fund,
CIMB-Principal MENA Equity Fund and CIMB-Principal Asia Infrastructure Equity Fund are invested in other collective investment
schemes / Target Funds, no additional Management Fee will be charged to the investor.
Investor CIMB-Principal Fund Other CIS / Target Fund
Management Fee charged Management Fee

by the Manager paid to the other CIS / Target Fund
Management Fee charged by the other CIS / Target Fund will be paid out of the Management Fee
charged by CIMB-Principal.
THERE IS NO DOUBLE CHARGING OF MANAGEMENT FEE
Trustee Fee
Table below stipulates the Trustee Fee charged for each Fund, based on NAV of the Fund.
Trustee Fee
Local custodian Foreign custodian
Funds (% p.a. of the NAV of the Fund)
fee fee
[See Note 1]
Equity Funds
CIMB-Principal Equity Fund# Note 3 RM25,000 p.a. Nil
CIMB-Principal Equity Fund 2 Note 3 RM20,000 p.a. Nil
CIMB-Principal Equity Aggressive Fund 1 0.06* Nil Nil
CIMB-Principal Equity Aggressive Fund 3 0.08 Note 2 Nil
CIMB-Principal Equity Growth Fund 0.06* Nil Note 4
CIMB-Principal Equity Growth & Income Fund 0.08 Nil Note 4
CIMB-Principal Equity Income Fund 0.06* Nil Note 4
CIMB-Principal Small Cap Fund 0.07* Note 2 Nil
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Mixed Asset Funds
CIMB-Principal Balanced Fund 0.08 Note 2 Nil
CIMB-Principal Balanced Income Fund Note 3 RM20,000 p.a. Nil
CIMB-Principal Income Plus Balanced Fund 0.08 Note 2 Note 4
CIMB-Principal Bond Fund 0.05 Note 2 Nil
CIMB-Principal Strategic Bond Fund 0.05* Note 2 Nil
CIMB-Principal Deposit Fund 0.07* Nil Nil
CIMB-Principal Money Market Income Fund 0.05* Note 2 Nil
CIMB-Principal Asia Infrastructure Equity Fund 0.08* Note 2 Note 4

CIMB-Principal ASEAN Equity Fund 0.08* Note 2 Note 4
CIMB-Principal Asian Equity Fund 0.035* Nil Note 4
CIMB-Principal Climate Change Equity Fund 0.08* Note 2 Note 4
CIMB-Principal Emerging Asia Fund 0.06* Note 2 Note 4
CIMB-Principal Global Asset Spectra Fund 0.07* Note 2 Note 4
CIMB-Principal Global Balanced Fund 0.035* Nil Note 4
CIMB-Principal Global Growth Fund 0.035* Nil Note 4
CIMB-Principal Global Titans Fund 0.07* Note 2 Note 4
CIMB-Principal Greater China Equity Fund 0.08* Note 2 Note 4
CIMB-Principal Lifecycle Funds 0.08* Note 2 Note 4
CIMB-Principal MENA Equity Fund 0.08* Note 2 Nil
# For EF, UTMB is also entitled for reimbursement of all reasonable costs and expenses incurred in respect of the Fund.
* subject to a minimum fee of RM18,000 p.a.
Note 1 Annual Trustee Fee is accrued daily based on the NAV of the Fund and paid monthly.
Note 2 Trustee Fee includes the local custodian fee but excludes the foreign sub-custodian fee (if any).
Note 3 The rates used for the computation of the annual Trustee Fee are as follows:
Size of the Fund % p.a. of NAV of the Fund

First RM20 million 0.06
Any amount in excess of RM100 million 0.01
Note 4 Foreign custodian fee (applicable to EGF, EIF, AEF, GBF and GGF only)
The foreign custodian fee (safekeeping fee and transaction fee, including out of pocket charges) is subject to a minimum
of USD 500 per month per fund and is charged monthly in arrears.
The safekeeping fee ranges from a minimum of 0.04% p.a. to a maximum of 0.38% p.a. of the market value of the
respective foreign portfolios, depending on the country invested.
The transaction fee is charged for every transaction and the amounts are dependent on the country invested.
Foreign custodian fee (applicable to EGIF only)

The foreign custodian fee is 0.125% p.a. of the NAV of the foreign portfolio charged monthly in arrears and subject to a
minimum fee of SGD1,800 per month and SGD30 per transaction (transaction fee).
Foreign custodian fee (applicable to IPBF, AIEF, ASEF, CCEF, EMAF, GASF, GCEF, GTF, and LF and only)
The foreign sub-custodian fee is dependent on the country invested and is charged monthly in arrears.
Illustration on how the Trustee Fee is calculated
Trustee Fee for the day = NAV of the Fund x Trustee Fee rate for the Fund (%) / 365 days
If the NAV of CIMB-Principal Bond Fund is RM500 million, then
Trustee Fee for the day = RM500 million x 0.05% / 365

= RM684.93
Other costs of investing in the Feeder Funds
As CIMB-Principal Asia Infrastructure Equity Fund, CIMB-Principal Climate Change Equity Fund, CIMB-Principal Greater China
Equity Fund and CIMB-Principal MENA Equity Fund will invest in units of their respective Target Funds, there are other fees and
170
charges indirectly incurred by these Feeder Funds such as the annual custodian fees and transaction fees which are incurred at the
Target Fund level. The rates for these fees will vary according to the country of investment and, in some cases, according to asset
class. Investments in bonds and developed equity markets will be at the lower end of these ranges, while some investments in
emerging or developing markets will be at the upper end. Thus, the custody and transaction costs to the Target Funds will depend
on its asset allocation at any time.
Other fees borne by the Target Funds include operating and related expenses including but not limited to, stamp duties, taxes,
commissions and other dealing costs, foreign exchange costs, bank charges, registration fees in relation to investments, insurance
and security costs, fees and expenses of the auditor, the remuneration and expenses of its directors and officers, all expenses
incurred in the collection of income and certain other expenses incurred in the administration of the Target Fund and in the
acquisition, holding and disposal of investments. The Target Funds will also be responsible for the costs of preparing, translating,
printing and distributing all its respective rating agencies, statements, notices, accounts, prospectuses and reports.
These fees and charges are imputed into the calculation of each of the Target Funds NAV. As such, Unit holders of a Feeder Fund
are indirectly bearing the above fees and expenses charged at the Target Fund level.
Anti Dilution Levy

For CIMB-Principal Asia Infrastructure Equity Fund, CIMB-Principal Climate Change Equity Fund, CIMB-Principal Global Asset
Spectra Fund, CIMB-Principal Global Titans Fund, CIMB-Principal Greater China Equity Fund, CIMB-Principal Lifecycle Funds and
CIMB-Principal MENA Equity Fund, an Anti Dilution Levy (ADL) may be charged in relation to a Funds application for and
redemption of units in collective investment schemes managed by other fund managers. The ADL is an allowance for fiscal and
other charges that is added to (for application for units) or deducted from (for redemption of units) the net asset value per unit to
reflect the costs of investing application monies in underlying assets of the Target Fund or cost of disposal of the underlying assets.
The levy is intended to be used to ensure that all investors in the Target Fund are treated equitably by allocating transaction costs
to the investors whose transactions give rise to those costs.
The ADL imposed may differ from one target fund to another. For example, an investment by CIMB-Principal Global Asset Spectra
Fund into any of PGIs funds is subject to an ADL if the subscription exceeds 10% of that PGI funds NAV. The ADL rate varies on a
monthly basis depending on market conditions.
Illustration on how an Anti Dilution Levy is imposed
Assume that CIMB-Principal Global Asset Spectra Fund intends to invest RM40 million into a PGI fund and the size of the
subscription exceeds 10% of that PGI funds NAV. For illustration below, assume that the NAV per unit of that PGI fund is
USD10.21 and the ADL imposed is 0.08% on the NAV per unit. The exchange rate used is RM3.20 : USD1.
Calculation of investment amount in USD

= RM40,000,000 / RM3.20
= USD12,500,000
Calculation of number of units received by GASF

= Investment amount / [NAV per unit of PGI fund x (1 + ADL)]
= USD12,500,000 / [USD10.21 x (1 + 0.08)]
= 1,133,601.77 units
Calculation of net investment in USD

= Number of units received by GASF x NAV per unit of PGI fund
= 1,133,601.77 units x USD10.21
= USD11,574,074.07
Calculation of ADL imposed in RM

= (USD12,500,000 - USD11,574,074.07) x 3.20
= RM2,962,962.98
Expenses
The Deeds also provide for payment of other expenses. The major expenses recoverable directly from the Funds include:
expenses incurred in the sale, purchase, insurance, custody and any other dealings of investments including
commissions/fees paid to brokers and costs involved with external specialists approved by the Trustee in investigating and
evaluating any proposed investment;
expenses incurred in the printing of, the purchasing of stationery and postage for the annual and interim reports;
costs associated with the custody of investments delegated by the Trustees (in respect of foreign custody only);
tax and other duties imposed by the government and other authorities, and bank fees;
auditors fees and expenses;
valuation fees paid to independent valuers for the benefit of the Funds;
costs incurred in modifying the Deeds for the benefit of Unit holders; and
cost of convening and holding meetings of Unit holders (other than those convened by or for the benefit of the Manager or the
Trustee).
The Manager and the Trustees are required to ensure that any fees or charges payable are reasonable and in accordance with the
Deeds which stipulate the maximum rate in percentage terms that can be charged. The Manager will ensure that there is no double
charging of management fees to be incurred by an investor when investing in the Funds.
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The Manager may alter the fees and charges (other than the Trustee Fee) within such limits, and subject to such provisions, as set
out in the Deeds and the SC Guidelines.
The Manager may, for any reason at any time, where applicable, waive, or reduce the amount of any fees (except the Trustee Fee)
or other charges payable by the investor in respect of the Funds, either generally (for all investors) or specifically (for any particular
investor) and for any period or periods of time at its absolute discretion.
Expenses not authorised by the Deeds must be paid by CIMB-Principal or the respective Trustees out of their own funds if incurred
for their own benefit.
Autodebit/Standing Instruction
Autodebit and other Standing Instruction facilities are available at selected banks and handling charges will be borne by the
investors. For more details, please contact out Customer Care Centre, the details of which are set out in the Additional
Information chapter.
Rebates and soft commissions

CIMB-Principal, and CIMB-Principal (S) and the Trustees (including their officers) will not retain any form of rebate or soft
commission from, or otherwise share in any commission with, any broker in consideration for directing dealings in the investments
of the Funds unless the soft commission received is retained in the form of goods and services such as financial wire services and
stock quotations system incidental to investment management of the Funds. All dealings with brokers are executed on best
available terms.
TAML currently do receive and/or enter into soft-dollar commissions/arrangements. However, TAML do not accept or enter into
soft-dollar commissions/arrangements unless such soft-dollar commissions/arrangements would, in the opinion of TAML, assist
TAML in their management. TAML will comply with applicable regulatory and industry standards on soft-dollars. The soft-dollar
commissions/arrangements which TAML receive or enter into include, but are not limited to, specific advice as to the advisability of
dealing in, or as to the value of any investments, research and advisory services, economic and political analyses, portfolio
analyses including valuation and performance measurements, market analyses, data and quotation services, computer hardware
and software or any other information facility to the extent that they are used to support the investment decision making process,
the giving of advice, or the conduct of research or analysis, and custodial services in relation to the investments managed. Soft-
dollar commissions/arrangements received or entered into by TAML do not include travel, accommodation, entertainment, general
administrative goods and services, general office equipment or premises, membership fees, employees salaries or direct money
payment. TAML shall ensure at all times that transactions are executed on the best available terms taking into account the relevant
market at the time for transactions of the kind and size concerned and no unnecessary trades are entered into in order to qualify for
such soft-dollar commissions/arrangements.
There are fees and charges involved and investors are advised to consider them before investing in the Funds.
172
Transaction Information
Unit pricing
The Manager adopts a single pricing method to price the units in relation to an application for and a withdrawal of units. This means
that the application for and withdrawal of units will be carried out at NAV per unit. The Application Fee / Withdrawal Fee (if any) will
be computed and charged separately based on your application / withdrawal amount. The Application Fee (if any) may differ
between distribution channels as well as for applications made under the EPF Members Investment Scheme (where available). The
single price for an application for withdrawal of units shall be the daily NAV per unit at the next valuation point after the Manager
receives the relevant completed application / withdrawal form (i.e. forward prices are used).
The unit price is based on the closing market price of the Funds underlying investments as at the end of that Business Day.
Thus for CIMB-Principal Equity Fund, CIMB-Principal Equity Fund 2, CIMB-Principal Equity Aggressive Fund 1, CIMB-Principal
Equity Aggressive Fund 3, CIMB-Principal Small Cap Fund, CIMB-Principal Balanced Fund, CIMB-Principal Balanced Income
Fund, CIMB-Principal Bond Fund, CIMB-Principal Strategic Bond Fund, CIMB-Principal Deposit Fund and CIMB-Principal Money
Market Income Fund, the unit price (i.e. NAV per unit of the Fund) for a Business Day is available on our website at
http://www.cimb-principal.com.my after 10:00 a.m. on the following Business Day. Should investors rely on the local dailies, the
unit price is published in the local dailies on the following Business Day.
However, for CIMB-Principal Equity Growth Fund, CIMB-Principal Equity Growth & Income Fund, CIMB-Principal Equity Income
Fund, CIMB-Principal Income Plus Balanced Fund, CIMB-Principal Asia Infrastructure Equity Fund, CIMB-Principal ASEAN Equity
Fund, CIMB-Principal Asian Equity Fund, CIMB-Principal Climate Change Equity Fund, CIMB-Principal Emerging Asia Fund, CIMB-
Principal Global Asset Spectra Fund, CIMB-Principal Global Balanced Fund, CIMB-Principal Global Growth Fund, CIMB-Principal
Global Titans Fund, CIMB-Principal Greater China Equity Fund, CIMB-Principal Lifecycle Funds and CIMB-Principal MENA Equity
Fund, the valuation point for a Business Day will be at 11:00 a.m. (4:00 p.m. for CIMB-Principal Equity Growth Fund, CIMB-
Principal Equity Growth & Income Fund, CIMB-Principal Equity Income Fund, CIMB-Principal Asian Equity Fund, CIMB-Principal
Global Asset Spectra Fund, CIMB-Principal Global Balanced Fund and CIMB-Principal Global Growth Fund) on the following
Business Day. The rationale for this is that at the close of Malaysian markets, the foreign markets/Target Funds in which these
Funds invest in are still open for trading/may not have performed its valuation for the day. As such, any price/valuation adopted for
these foreign securities/Target Funds may not be final for the relevant Business Day. To value the investments more accurately, it
would be better to extract the closing prices/valuation of the foreign securities/the Target Funds; hence, unit pricing is best
performed on the following Business Day. The unit price (i.e. NAV per unit of the Fund) for a Business Day is available on our
website at http://www.cimb-principal.com.my after 1:30 p.m. (5:30 p.m. for CIMB-Principal Equity Growth Fund, CIMB-Principal
Equity Growth & Income Fund, CIMB-Principal Equity Income Fund, CIMB-Principal Asian Equity Fund, CIMB-Principal Global
Asset Spectra Fund, CIMB-Principal Global Balanced Fund and CIMB-Principal Global Growth Fund) on the following Business
Day. Should investors rely on the local dailies, the unit price is published in the local dailies two (2) days later.
For any transactions (i.e. purchases, redemptions, switches or transfers) before 4:00 p.m. on a Business Day, the price for these
transactions will be the unit pricing for that Business Day. Transactions at or after 4:00 p.m. will be processed using the unit pricing
for the next Business Day.
Illustration (for CIMB-Principal Equity Growth Fund, CIMB-Principal Equity Growth & Income Fund, CIMB-Principal Equity
Income Fund, CIMB-Principal Income Plus Balanced Fund, CIMB-Principal Asia Infrastructure Equity Fund, CIMB-Principal
ASEAN Equity Fund, CIMB-Principal Asian Equity Fund, CIMB-Principal Climate Change Equity Fund, CIMB-Principal
Emerging Asia Fund, CIMB-Principal Global Titans Fund, CIMB-Principal Global Asset Spectra Fund, CIMB-Principal
Global Balanced Fund, CIMB-Principal Global Growth Fund, CIMB-Principal Greater China Equity Fund, CIMB-Principal
Lifecycle Funds and CIMB-Principal MENA Equity Fund)
For a transaction made before 4:00 p.m. on a Business Day

For the market close of 3 August 2010, the unit price for the Business Day will be calculated on the next Business Day, that is, 4
August 2010. The unit pricing will be made known on our website after 1:30 p.m. (5:30 p.m. for CIMB-Principal Equity Growth Fund,
CIMB-Principal Equity Growth & Income Fund, CIMB-Principal Equity Income Fund, CIMB-Principal Asian Equity Fund, CIMB-
Principal Global Asset Spectra Fund, CIMB-Principal Global Balanced Fund and CIMB-Principal Global Growth Fund) on 4 August
2010. However, the publication date on local dailies for the prices as at 3 August 2010 will be 5 August 2010.
For a transaction made at or after 4:00 p.m. on a Business Day

For the market close of 3 August 2010, the unit price will be for the next Business Day, which will be calculated two (2) days later,
that is, 5 August 2010. The unit pricing will be made known on our website after 1:30 p.m. (5:30 p.m. for CIMB-Principal Equity
Growth Fund, CIMB-Principal Equity Growth & Income Fund, CIMB-Principal Equity Income Fund, CIMB-Principal Asian Equity
Fund, CIMB-Principal Global Asset Spectra Fund, CIMB-Principal Global Balanced Fund and CIMB-Principal Global Growth Fund)
on 5 August 2010. However, the publication date on local dailies will be 6 August 2010.
Each Fund must be valued at least once for every Business Day. Unit prices (i.e. the NAV per unit) are calculated based upon the
Net Asset Value of the Fund and the number of units in issue in the Fund.
The method of determining NAV per unit is calculated as follows:
NAV per unit = Net Asset Value____

Number of Units in issue
The NAV of a Fund for a Business Day is calculated at the end of every Business Day or the next Business Day, whichever
applicable, and is the sum of the value of all investments and cash held by the Fund (calculated in accordance with the Deeds)
including income derived by the Fund which has not been distributed to Unit holders, less all amounts owing or payable in respect
173
of the Fund which also includes any provisions that the Trustee and CIMB-Principal consider should be made. For example, a
provision may be made for possible future losses on an investment which cannot be fairly determined.
Note: The Manager will ensure the accuracy of the prices to the press for publication. The Manager, however, will not be held liable
for any error or inaccuracies in prices published.
Incorrect Pricing
The Manager shall take immediate remedial action to rectify any incorrect valuation and/or pricing of the Fund or Units of the Fund.
Where such error has occurred, monies shall be reimbursed in the following manner:
(a) in the event of over valuation or pricing, by the Manager to the Fund (if there is a redemption of Units) and/or to the Unit
holders who purchase Units at a higher price; or
(b) in the event of under valuation or pricing, by the Manager to the Fund (if there is a sale of Units) and/or to the Unit holders or
former Unit holders who redeem at a lower price.
Notwithstanding the foregoing, unless the Trustee otherwise directs, no reimbursement shall be made save and except where an
incorrect pricing:
(i) is equal or more than zero point five per centum (0.5%) of the Net Asset Value per Unit; and
(ii) results in a sum total of Ringgit Malaysia Ten (RM10.00) or more to be reimbursed to a Unit holder for each sale or repurchase
transaction.
Subject to any regulatory requirements, the Manager shall have the right to amend, vary or revise the abovesaid limits or threshold
from time to time and disclose such amendment, variation or revision in this Master Prospectus.
Calculation of investment amount and units entitlement
Illustration 1
Calculation of number of units received, Application Fee and total amount payable by investor
Assumptions:
NAV per unit = RM0.5000 (truncated to 4 decimal places)

Application Fee charged by CWA = 6.5%
Application Fee charged by other IUTA = 5.5%
An investor wishes to invest RM10,000 in the Fund through an IUTA.
Calculation of total number of units received by investor

= Investment amount / NAV per unit
= RM10,000 / RM0.5000
= 20,000 units
Calculation of Application Fee paid by investor (which is payable in addition to the investment amount)
= NAV per unit x number of units received x Application Fee rate
= RM0.5000 x 20,000 units x 5.5%
= RM550.00
Calculation of total amount paid by investor

= Investment amount + Application Fee paid
= RM10,000 + RM550
= RM10,550
Calculation of investment value
Following the example above, assuming the NAV per unit calculated for a Business Day is RM0.5110 (truncated to 4 decimal
places).
Calculation of investment amount

= Number of units x NAV per unit
= 20,000 units x RM0.5110
= RM10,220
Illustration 2
Calculation of withdrawal value, Withdrawal Fee and amount payable to investor
Assuming another investor, with 50,000 units, requests for a RM10,000 withdrawal from his investment in the Fund. His withdrawal
request is received before 4:00 p.m. NAV per unit for that day is RM0.5230 (truncated to 4 decimal places) and there is a
Withdrawal Fee of 1.0% charged.
A withdrawal fee of 1.0% on the NAV per unit will be charged on the withdrawal.
174
Calculation of number of units withdrawn
= Withdrawal value / NAV per unit
= RM10,000.00 / RM0.5230
= 19,120.46 units
Calculation of number of remaining units

= Units held before withdrawal units withdrawn
= 50,000.00 units 19,120.46 units
= 30,879.54 units
Calculation of Withdrawal Fee paid by investor (to be deducted from withdrawal value)
= NAV per unit x number of units withdrawn x Withdrawal Fee rate
= RM0.5230 x 19,120.46 units x 1.0%
= RM100.00
Calculation of amount payable to investor

= Withdrawal value Withdrawal Fee paid
= RM10,000.00 RM100.00
= RM9,900.00
The amount payable to the investor is RM9,900.
Transaction Details
Investing
Who can invest?
Application for investment can only be made in Malaysia and/or in such countries where approval for sale has been obtained from
the relevant regulatory authorities in that country. The following investors are eligible to invest in the Funds:
an individual who is at least eighteen (18) years of age and is not an undischarged bankrupt, investing in single or joint names
(i.e. as a joint Unit holder);
an institution including a company, corporation, co-operative, trust or pension fund.
However, CIMB-Principal has the right to reject an application on reasonable grounds.
Further, where CIMB-Principal becomes aware of a USA resident investor (i.e. someone who has a USA address, permanent or
mailing) holding units in the Fund, a notice may be issued to that person requiring him to, within 30 days, either withdraw his units
or transfer his units to a non-USA resident.
Can the Units be registered in the name of more than one (1) Unit holder?
Units may be registered in the name of more than one (1) Unit holder but CIMB-Principal is not bound to register more than two (2)
joint holders and both applicants must be at least eighteen (18) years of age.
In the event of the demise of a joint holder, the Manager is authorized to recognize only the surviving joint holder as having any
claim to the units as the rightful owner or when the deceased is a Muslim, acting as wasi/administrator.
Who is distributing these Funds?
The Funds may be distributed via the following channels:
CIMB Wealth Advisors, an IUTA of the Manager

Other Institutional Unit Trust Advisers (IUTAs)
The addresses and contact numbers of the head office and regional offices of CIMB-Principal are disclosed in the Corporate
Directory. The Approved Distributors of the Funds are listed in the Distributors of the Funds chapter.
175
Minimum investments
The minimum initial investments for each Fund are stipulated in the table below.
Regular Savings Plan (RSP)^

Minimum EPF Members
Minimum initial Minimum
additional Minimum initial Investment
investment additional
investment investment Scheme
(RM) investment
(RM) (RM) (RM)
(RM)
Equity Funds
CIMB-Principal Equity Fund 500 200 500 200 1,000
CIMB-Principal Equity Fund 2 500 200 500 200 1,000
CIMB-Principal Equity Aggressive Fund 1 500 200 500 200 1,000
CIMB-Principal Equity Aggressive Fund 3 500 200 500 200 1,000
CIMB-Principal Equity Growth Fund 500 200 500 200 N/A#
CIMB-Principal Equity Growth & Income Fund 500 200 500 200 N/A#
CIMB-Principal Equity Income Fund 500 200 500 200 N/A#
CIMB-Principal Small Cap Fund 500 200 500 200 1,000
Mixed Asset Funds
CIMB-Principal Balanced Fund 500 200 500 200 1,000
CIMB-Principal Balanced Income Fund 500 200 500 200 1,000
CIMB-Principal Income Plus Balanced Fund 500 200 500 200 N/A#
CIMB-Principal Bond Fund 2,000 500 1,000 500 2,000

CIMB-Principal Strategic Bond Fund 2,000 500 1,000 500 2,000
CIMB-Principal Deposit Fund 10,000 1,000 1,000 500 10,000
CIMB-Principal Money Market Income Fund 10,000 1,000 N/A N/A N/A
CIMB-Principal Asia Infrastructure Equity Fund 500 200 500 200 N/A#
CIMB-Principal ASEAN Equity Fund 500 200 500 200 N/A#
CIMB-Principal Asian Equity Fund 500 200 500 200 N/A#
CIMB-Principal Climate Change Equity Fund 500 200 500 200 N/A#
CIMB-Principal Emerging Asia Fund 500 200 500 200 N/A#
CIMB-Principal Global Asset Spectra Fund 500 200 500 200 N/A#
CIMB-Principal Global Balanced Fund 500 200 500 200 N/A#
CIMB-Principal Global Growth Fund 500 200 500 200 N/A#
CIMB-Principal Global Titans Fund 500 200 500 200 N/A#
CIMB-Principal Greater China Equity Fund 500 200 500 200 N/A#
CIMB-Principal Lifecycle Funds 500 200 500 200 N/A#
CIMB-Principal MENA Equity Fund 500 200 500 200 N/A#
^
The Regular Savings Plan (RSP) allows you to make regular monthly investments directly from your account held with a bank approved
by CIMB-Principal or Approved Distributors.
#
Currently the EPF does not allow withdrawals for investments into these Funds. As and when the EPF should allow such investments,
EPF withdrawals for investments into such Funds may be made.
Please note: The Manager reserves the right to change the above stipulated amounts from time to time.
Investments can be made through any Approved Distributors or the head office of CIMB-Principal (for Institutional Marketing sales)
after completing an application form from a current prospectus and attaching a copy of each applicants identity card, passport or
other identification. On the application form, please select and indicate clearly the amount you wish to invest in the Fund.
Investments can be made:
by crossed cheque, bankers draft, money order or cashiers order (made payable as advised by the Approved Distributors or
the Manager as the case may be);
directly from your bank account held with Approved Distributors, where applicable; or
by cash if the application is made in person at any branch of Approved Distributors, where acceptable.
Investors will have to bear the commission charges for outstation cheques.
176
Where available, the Regular Savings Plan (RSP) allows you to make regular monthly investments, direct from your account held
with a bank approved by the Approved Distributors. Monthly investments made via the RSP will be processed when the application
or monthly investment cheque is received by the Manager. Monthly investment can be made by arranging a standing instruction
with the Approved Distributors to credit a pre-determined amount to the Fund each month. You can cancel your RSP at any time by
providing written instructions to the relevant Approved Distributors to cancel your standing instruction.
Processing an application
If CIMB-Principal receives a valid application before 4:00 p.m., CIMB-Principal will process it using the NAV per unit for that
Business Day. If CIMB-Principal receives the application at or after 4:00 p.m., it will be processed using the NAV per unit for the
next Business Day.
For CIMB-Principal Money Market Income Fund and CIMB-Principal Deposit Fund, investments made via Telegraphic Transfers or
cheques will be processed as follows:
a) Telegraphic Transfers
If an application is accepted by the Manager before the cut off time on a Business Day, i.e. 4:00 p.m., the NAV per unit quoted
at the end of the same Business Day shall apply for the application. For applications received after 4:00 p.m. on a Business
Day, it will be treated as received on the following Business Day, i.e. NAV per unit quoted at the end of the 2nd Business Day
shall apply.
b) Cheques
If an application is accepted by the Manager before the cut off time on a Business Day, i.e. 4:00 p.m., the NAV per unit quoted
at the end of the 3rd Business Day shall apply for the application. For applications received after 4:00 p.m. on a Business Day,
it will be treated as received on the following Business Day, i.e. NAV per unit quoted at the end of the 4th Business Day shall
apply.
Incomplete applications will not be processed until CIMB-Principal has received all the necessary information. The number of units
an investor receives will be rounded down to the second decimal place.
Withdrawals
The minimum withdrawal for each Fund is stipulated in the table below, unless you are withdrawing your entire investment.
Withdrawals can be made from the Fund by completing a withdrawal request form and sending it to the relevant Approved
Distributors or the head office of CIMB-Principal (for Institutional Marketing sales). Please note that for EPF Investments, your
withdrawal proceeds will be paid to EPF.
Minimum withdrawal*
Equity Funds
CIMB-Principal Equity Fund RM200 or 200 units
CIMB-Principal Equity Fund 2 RM200 or 200 units
CIMB-Principal Equity Aggressive Fund 1 RM200 or 400 units
CIMB-Principal Equity Aggressive Fund 3 RM200 or 400 units
CIMB-Principal Equity Growth Fund RM200 or 400 units
CIMB-Principal Equity Growth & Income Fund RM200 or 200 units
CIMB-Principal Equity Income Fund RM200 or 200 units
CIMB-Principal Small Cap Fund RM200 or 800 units
Mixed Asset Funds
CIMB-Principal Balanced Fund RM200 or 400 units
CIMB-Principal Balanced Income Fund RM200 or 200 units
CIMB-Principal Income Plus Balanced Fund RM200 or 400 units
CIMB-Principal Bond Fund RM500 or 500 units
CIMB-Principal Strategic Bond Fund RM500 or 500 units
CIMB-Principal Deposit Fund RM1,000 or 1,000 units
CIMB-Principal Money Market Income Fund RM1,000 or 1,000 units
CIMB-Principal Asia Infrastructure Equity Fund RM200 or 400 units
CIMB-Principal ASEAN Equity Fund RM200 or 400 units
CIMB-Principal Asian Equity Fund RM200 or 400 units
CIMB-Principal Climate Change Equity Fund RM200 or 400 units
CIMB-Principal Emerging Asia Fund RM200 or 800 units
CIMB-Principal Global Asset Spectra Fund RM200 or 400 units
CIMB-Principal Global Balanced Fund RM200 or 400 units
CIMB-Principal Global Growth Fund RM200 or 400 units
CIMB-Principal Global Titans Fund RM200 or 400 units
CIMB-Principal Greater China Equity Fund RM200 or 400 units
CIMB-Principal Lifecycle Funds RM200 or 400 units
177
CIMB-Principal MENA Equity Fund RM200 or 400 units
* Subject always to the Managers absolute discretion, any withdrawal is subject to the minimum balance being maintained.
Please note:
1. The Manager reserves the right to change the above stipulated amounts from time to time.
2. There is no restriction on the frequency of withdrawals.
3. There is no exit and re-entry option.
Processing a withdrawal
If CIMB-Principal receives a valid withdrawal request before 4:00 p.m., we will process it using the NAV per unit for that Business
Day, which will be known on the following Business Day. If CIMB-Principal receives the withdrawal request at or after 4:00 p.m., it
will be processed using the NAV per unit for the next Business Day.
If you request a specific amount in RM, the number of units will be calculated by dividing the requested amount in RM by the unit
pricing, and the number of units will be rounded to the second decimal place. The amount that you will receive is calculated by the
withdrawal value less the Withdrawal Fee, if any. That amount will be paid in RM within ten (10) calendar days.
For CIMB-Principal Deposit Fund, the withdrawal amount will be paid in RM within three (3) Business Days. There is a minimum
notice period of seven (7) Business Days for a withdrawal amount greater than RM30 million.
For CIMB-Principal Money Market Income Fund, the withdrawal amount will be paid in RM within three (3) Business Days. There is
a minimum notice period of seven (7) Business Days for a withdrawal amount greater than RM10 million.
Any applicable bank charges and other bank fees incurred as a result of a withdrawal by way of telegraphic transfer, bank cheque
or other special payment method will be charged to you.
Minimum balance
The minimum balance that must be maintained in the Funds are stipulated in the table below.
Minimum balance
(units)
Equity Funds
CIMB-Principal Equity Fund 2 250
CIMB-Principal Equity Aggressive Fund 1 500
CIMB-Principal Equity Aggressive Fund 3 500
CIMB-Principal Equity Growth Fund 500
CIMB-Principal Equity Growth & Income Fund 250
CIMB-Principal Equity Income Fund 250
CIMB-Principal Small Cap Fund 1,000
Mixed Asset Funds
CIMB-Principal Balanced Fund 500
CIMB-Principal Balanced Income Fund 250
CIMB-Principal Income Plus Balanced Fund 500
CIMB-Principal Bond Fund 1,000
CIMB-Principal Strategic Bond Fund 1,000
CIMB-Principal Deposit Fund 5,000
CIMB-Principal Money Market Income Fund 5,000
CIMB-Principal Asia Infrastructure Equity Fund 500
CIMB-Principal ASEAN Equity Fund 500
CIMB-Principal Asian Equity Fund 500
CIMB-Principal Climate Change Equity Fund 500
CIMB-Principal Emerging Asia Fund 1,000
CIMB-Principal Global Asset Spectra Fund 500
CIMB-Principal Global Balanced Fund 500
CIMB-Principal Global Growth Fund 500
CIMB-Principal Global Titans Fund 500
CIMB-Principal Greater China Equity Fund 500
CIMB-Principal Lifecycle Funds 500
CIMB-Principal MENA Equity Fund 500
If the value of an investment drops below the minimum balance stipulated above, further investment will be required until the
balance of the investment is restored to at least the stipulated minimum balance.
178
Otherwise CIMB-Principal can withdraw the entire investment and forward the proceeds to you.
Cooling-off period
You have six (6) Business Days after your initial investment (i.e. the date the application is received by CIMB-Principal) to
reconsider its appropriateness for your needs. Within this period, you may withdraw your investment at the NAV per unit on the day
the units were first purchased and have the Application Fee (if any) repaid. Please note that the cooling-off right is only given to an
investor who is investing with CIMB-Principal or any Approved Distributors for the first time. However, corporations/institutions,
CIMB-Principals staff and person(s) registered to deal in unit trust of CIMB-Principal or any Approved Distributors are not entitled to
the cooling-off right.
However, investors who invest via the EPF Members Investment Scheme (where available) are subject to EPFs terms and
conditions.
Switching
Switching will be conducted based on the value of your investment in a Fund. The minimum amount for a switch must be equivalent
to the minimum withdrawal amount applicable to a Fund or such amounts as the Manager may from time to time decide. Please
note that the minimum amount for a switch must also meet the minimum initial investment amount or the minimum additional
investment amount (as the case may be) applicable to the fund to be switched into. Further, Unit holders must at all times maintain
at least the minimum balance required for a Fund to stay invested in that Fund. Currently, there is no restriction on the frequency of
switches. The Manager may, at its absolute discretion, allow switching into (or out of) a Fund, either generally (for all Unit holders)
or specifically (for any particular Unit holder).
However, for CIMB-Principal Lifecycle Funds, switching is allowed:
within the CIMB-Principal Lifecycle Funds; and
from other CIMB-Principal funds into any of these Funds.
Subject always to the Managers absolute discretion, switching out from any of these Funds into other funds is not allowed.
To switch, simply complete a switch request form and send to any branch of any Approved Distributors or the head office of CIMB-
Principal (for Institutional Marketing sales).
Processing a switch
A switch is processed as a withdrawal from one fund and an investment into another. If we receive a valid switch request before
4:00 p.m., CIMB-Principal will process it using the NAV per unit for that Business Day. If we receive the request at or after 4:00
p.m., it will be processed using the NAV per unit for the next Business Day.
However, Unit holders of CIMB-Principal Equity Growth Fund, CIMB-Principal Equity Growth & Income Fund, CIMB-Principal Equity
Income Fund, CIMB-Principal Asian Equity Fund, CIMB-Principal Global Asset Spectra Fund, CIMB-Principal Global Balanced
Fund and CIMB-Principal Global Growth Fund should note that, the price of the Fund to be switched out from and the price of the
fund to be switched in to will be that of different days. The table below sets out the pricing policy for switching out of any of the
above Funds:
Pricing Date
Switching Type
Switch out fund Switch in fund
From EGF / EGIF / EIF / AEF / GASF / T* T+1*
GBF / GGF to other funds (non-Money (application received by the cut-off time (application received by the cut-off time
Market fund) on the same Business Day) on the same Business Day)
T = Business Day
* For funds that have foreign investment exposure, pricing as at T or T+1 will be made known on T+1 or T+2 Business Day
respectively.
On the other hand, Unit holders of CIMB-Principal Money Market Income Fund should note that, the price of the fund to be
switched into will be that of different days. The table below sets out the pricing policy for switching out of CIMB-Principal Money
Market Income Fund:
Pricing Date
Switching Type
From MMIF to other funds (non-Money T T*
Market fund) (application received by the cut-off time (application received by the cut-off time
on the same Business Day) on the same Business Day)
From MMIF to another Money Market T T+1
Fund and vice versa (application received by the cut-off time (application received by the cut-off time
T = Business Day
* For funds that have foreign investment exposure, pricing as at T will be made known on T+1 Business Day.
In addition, Unit holders of other funds who wish to switch into CIMB-Principal Deposit Fund should note that, the price of the fund
to be switched out from and the switch-in price for CIMB-Principal Deposit Fund will be that of different days. The table below sets
out the pricing policy for switching into CIMB-Principal Deposit Fund:
179
Pricing Date
Switching Type
From other funds (non-Money Market T* T + 4 Business Days
Fund) to DF (application received by the cut-off time (application received by the cut-off time
T = Business Day
* For funds that have foreign investment exposure, pricing as at T will be made known on T+1 Business Day.
Note: Investors investing under the EPF Members Investment Scheme are not allowed to switch in to funds that have foreign
investment exposure.
Transfer facility
Generally, investors are allowed to transfer their unit holdings, subject to conditions stipulated in the respective Deeds of the Funds.
The Manager may refuse to register any transfer of a unit at its absolute discretion. A Transfer Fee of not more than RM50.00 may
be charged for each transfer.
Termination of CIMB-Principal Lifecycle Funds on Maturity Date

Unit holders of the Fund will be given two (2) months notice of the Funds termination prior to the Maturity Date of the Fund. Unit
holders will have the option to switch their investments in the Fund into any of the other CIMB-Principal funds without any charge,
or to withdraw their investments.
For Unit holders who have opted to switch their investments into any of the other CIMB-Principal funds, units in the Fund will be
cancelled on its Maturity Date and the Unit holders will receive in exchange the relevant number of units in the fund to be switched
into at NAV per unit of the fund without any charge.
For Unit holders whose investment purpose is for retirement savings or for future savings, it is encouraged that their investment in
the Fund be switched into the CIMB-Principal range of bond funds, which are generally more conservative than equity funds.
Should the Manager not received the request to switch two (2) weeks before the Maturity Date, the Unit holder will be deemed to
have opted to redeem all his investments. All units held by the Unit holder will be redeemed based on the NAV per unit on the
Maturity Date. No Withdrawal Fee will be charged by CIMB-Principal. However, any applicable bank charges and other bank fees
incurred as a result of withdrawal by way of telegraphic transfer, bank cheque or other special payment method will be charged to
Unit holders.
Investors are advised not to make payment in cash when purchasing units of a Fund via any institutional / retail agent.
180
Distribution of the Funds
The payment of distributions, if any, from a Fund will depend on its distribution policy and will vary from period to period
depending on interest rates, market conditions and the performance of the Funds.
The distribution policy for each Fund is set out in the table below:
Distribution Policy
Equity Funds
The Manager has the discretion to distribute part or all of the Funds
distributable income. The distribution (if any) may vary from period to
period depending on the investment objective and the performance of the
Fund.
Fund.
Fund.
No distribution is expected to be paid, however, distribution, if any, will be
CIMB-Principal Equity Aggressive Fund 3 incidental and will vary from period to period depending on interest rates,
market conditions and the performance of the Fund.
Fund.
Fund.
Distribution (if any) is expected to be distributed annually, depending on
the performance of the Fund and at the Managers discretion.
CIMB-Principal Small Cap Fund incidental and will vary from period to period depending on interest rates,
Mixed Asset Funds
Distribution (if any) is expected to be distributed once a year every

January at the Managers discretion.
Fund.
Distribution (if any) is expected to be distributed half-yearly in January
and July each year at the Managers discretion*.

January at the Managers discretion*.
January at the Managers discretion*.
CIMB-Principal Deposit Fund Monthly, depending on the level of income (if any) the Fund generates.
CIMB-Principal Money Market Income Fund Quarterly, if any within 14 days after the last day of each quarter.
181
Distribution Policy
As the Fund will be investing in the share class of the Target Fund that
CIMB-Principal Asia Infrastructure Equity Fund does not pay distributions, and consistent with the Funds objective to
achieve capital growth, the Fund is not expected to pay any distribution.
CIMB-Principal ASEAN Equity Fund incidental and will vary from period to period depending on interest rates,
Fund.
Given its investment objective, the Fund is not expected to pay any
distribution.
CIMB-Principal Emerging Asia Fund incidental and will vary from period to period depending on interest rates,
distribution.
Fund.
Fund.
distribution.
distribution.
distribution.
As the Target Fund generally does not pay any distributions, and
CIMB-Principal MENA Equity Fund consistent with this Funds objective to achieve a total return, the Fund is
not expected to pay any distribution.
The payment of distributions, if any, from a Fund will depend on its distribution policy and will vary from period to period depending
on interest rates, market conditions and the performance of the Fund.
At the end of each distribution period, the net income (if any) of the Fund is generally distributed to Unit holders. The net income (if
any) is calculated in accordance with the relevant Deeds and is generally calculated by adding the income (including all profit
sharing income paid from cash deposits, money market instruments and debentures/instruments as well as any dividends received)
and net realised capital gains (calculated by adding all realised capital gains and deducting any realised capital losses) of the Fund
for the distribution period and then deducting all expenses incurred by the Fund and any provisions that the Auditors consider
proper.
Please note that the NAV of a Fund include unrealised gains and losses, if any. These unrealised gains and losses are included in
the calculation of the unit price of a Fund. When the gains and losses are realised (that is, the investments are sold by the Fund),
they will generally be included in the calculation of the Funds net income for the distribution period in which the investments are
sold, even though the gains or losses may have accrued before a Unit holder invested in the Fund.
The total distributable amount is then divided by the total number of units in issue at the end of the distribution period, to give the
distribution on a sen per unit basis (i.e. for every unit owned in a Fund, a Unit holder will receive a specified number of sen).
Each unit will receive the same distribution for a distribution period regardless of when those units were purchased. The distribution
amount to be received by each Unit holder is in turn calculated by multiplying the total number of units held by a Unit holder in the
Fund by the sen per unit distribution amount. Once a distribution has been paid, the unit price usually falls.
182
Illustration for the 12-month period ended 31 May 2010.
Net distribution : 1.68 sen per unit
Pre distribution Post distribution

NAV per unit RM0.5186 RM0.5018
All distributions will be automatically reinvested into additional units in the Fund at the NAV per unit of the Fund on the distribution
date (the number of units is rounded down to the nearest two decimal places), unless written instructions to the contrary are
communicated by you to the Manager. No Application Fee is payable for the reinvestment.
If units are issued as a result of the reinvestment of a distribution or other circumstance after you have withdrawn your investment
from the Fund, those additional units will then be withdrawn and the proceeds paid to you. Distribution payments will be made in
RM.
Unclaimed monies
Income distribution payout to the Unit holders, if any, which remain unclaimed for six (6) months will automatically be reinvested
into the Fund based on the prevailing NAV per unit of the Fund. Redemption proceeds payable to Unit holders who have requested
for full or partial redemption of their investments in the Fund that remain unclaimed after twelve (12) months as prescribed by the
Unclaimed Moneys Act, 1965 (as may be amended from time to time), shall be lodged with the Registrar of Unclaimed Moneys in
accordance with the provisions of the Act.
183
The Manager
About CIMB-Principal Asset Management Berhad
CIMB-Principal holds a Capital Markets Services License for fund management under the CMSA and specialises in managing and
operating unit trusts for investors, both institutional and retail. CIMB-Principals responsibilities include managing investment
portfolios by providing fund management services to insurance companies, pension funds, unit trust companies, corporations and
government institutions in Malaysia.
CIMB-Principal is a participating unit trust management company under the Malaysia Employees Provident Fund (EPF) Members
Investment Scheme and as at LPD, it was responsible for managing more than RM22.42 billion on behalf of individuals and
corporations in Malaysia.
It originally commenced its operations as a unit trust company in November 1995. As at LPD, CIMB-Principal has more than 13
years of experience in the unit trust industry.
As at LPD, the shareholders of the company are CIMB Group Sdn. Bhd. (CIMB Group) (60%) and Principal International (Asia)
Limited (PIA) (40%).
CIMB Group is held in majority by CIMB Group Holdings Berhad (formerly known as Bumiputera-Commerce Holdings Berhad). It is
a fully integrated investment bank. It offers the full range of services in the debt markets, the equity markets and corporate advisory.
Member companies of CIMB Group also provide services in lending, private banking, private equity, Islamic capital markets as well
as research capability in economics, equity and debt markets.
Principal International (Asia) Limited is a private company incorporated in Hong Kong and its principal activity is the provision of
consultancy services to other PFG group of companies. PIA is a subsidiary of the Principal Financial Group, which was established
in 1879 and is a diversified global financial services group servicing more than 15 million customers.
As at LPD, CIMB-Principal managed 43 conventional unit trust funds and 25 Islamic unit trust funds.
In addition to being able to draw on the financial and human resources of its shareholders, CIMB-Principal has a staff strength of
165, 131 Executives and 34 Non-Executives, as at LPD.
The primary responsibilities of CIMB-Principal as the Manager of the Funds include:
maintaining a register of Unit holders;

implementing the appropriate investment strategies to achieve the Funds investment objectives;
ensuring that the Funds have sufficient holdings in liquid assets;
arranging for the sale and repurchase of units;
calculating the amount of income to be distributed to Unit holders; and
maintaining proper records of the Funds.
Summary of the financial position of the Company
12 months-ended 12 months-ended 12 months-ended

31.12.2009 31.12.2008 31.12.2007
RM RM RM
Issued and paid-up share capital 173,474,795 173,474,795 173,474,795
Shareholders funds 290,172,438 286,567,530 283,887,815
Revenue 165,885,371 125,970,529 120,617,438
Profit before taxation 36,724,581 29,891,647 37,494,533
Taxation 7,098,454 6,404,957 11,096,052
Profit after taxation 29,626,127 23,486,690 26,398,481
184
Key personnel
Name: John Campbell Tupling Munirah Khairuddin

Responsibility: Chief Executive Officer / Executive Director Deputy Chief Executive Officer
Experience: Has been an Alternate Director for CIMB-Principal since Joined CIMB-Principal on 1 November 2006.
22 March 2004 and was redesignated as a principal Previously worked as a G7 Economist and strategist
Director of CIMB-Principal since 22 August 2007 upon his for a Fortune 500 multinational oil and gas company.
move to Malaysia. He was appointed the Chief Executive Prior to that, she was a fixed income portfolio manager
Officer / Executive Director of CIMB-Principal on 1 for Emerging Markets at Rothschild Asset
November 2008. Has spent more than 11 years in various Management in London. Apart from her Senior
positions with Principal Financial Group including COO Management role, she is responsible for Institutional
Asia (based in Hong Kong), Co-Head of Institutional sales and marketing for both domestic and
Pension Segment (based in USA) and Managing Director international investors and financial institutions. Her
of Principal International Spain. Previous experience was scope also entails developing institutional business
15 years with American International Group in various opportunities for CIMB-Principal in potential new
capacities including Managing Director of AIG Mexico and markets.
AIG La Tandilense (Argentina).
Qualifications: Bachelor of Arts, University of Western Ontario, Canada. Bachelor of Arts (Honours) in Accounting & Financial
Analysis, University of Newcastle Upon Tyne, UK;
Chartered Financial Analyst Charterholder.
Name: Raymond Tang Albert Tai Lee Chuan

Responsibility: Chief Investment Officer Legal & Compliance
Experience: He has been with CIMB-Principal since 1 October 2004. Joined CIMB-Principal on 1 August 2008. He has over
He has over 20 years of experience in the asset 13 years of experience in the capital market. Prior to
management business, managing both institutional and joining CIMB-Principal, he was the Director/Head of
unit trust funds. Prior to joining CIMB-Principal, he was the Compliance of OSK Investment Bank Berhad (OSK), a
Chief Investment Officer/Executive Director of CMS position he held for 7 years. He began his career as an
Dresdner Asset Management from 1996 to 2004 and was advocate and solicitor in 1990 for over 2 years before
jointly responsible in making regional asset allocation moving on to be an Assistant Manager in the legal
decisions within the Asia-Pacific ex-Japan. He began his department of Berjaya Group for over 3 years. In 1995,
career as an investment officer in RHB Asset he joined OSK as the Group Legal Advisor before
Management in 1987 for 4 years, before moving on to assuming the role as the Head of Compliance in 2000.
CIMB Securities as an investment executive for 1 year. In He oversees the compliance matters for CIMB-
1992, he joined SBB Asset Management as a fund Principal.
manager until 1996. Currently, he is the Chairman of
Malaysian Association of Asset Managers (MAAM) and a
committee member of FTSE Bursa Malaysia Index
Advisory Committee as well as an invitee in the Executive
Committee of Malaysia International Islamic Financial
Centre (MIFC).
Qualifications: Fellow of the Chartered Institute of Management Bachelor of Economics and LLB (Monash University,
Accountants (CIMA) United Kingdom. Holds a Capital Australia).
Markets Services Representatives License for fund
management under CMSA.
185
The Investment Committee
The Manager has appointed the Investment Committee for the Funds, pursuant to the requirements under the SC Guidelines. The
Investment Committee currently consists of six (6) members including three (3) independent members. Generally, the Investment
Committee meets once a month and is responsible for ensuring that the investment management of the Funds is consistent with
the objectives of the Funds, the Deeds, the SC Guidelines and relevant securities laws, any internal investment restrictions and
policies of the Manager, as well as acceptable and efficacious investment management practices within the unit trust industry. In
this role, the powers and duties of the Investment Committee include formulating and monitoring the implementation by the
Manager of appropriate investment management strategies for the Funds and the measurement and evaluation of the performance
of the Manager.
Date of appointment of Investment Committee Members
Fund A. Huzaime John

Badlisyah bin Fadl bin Raja Noorma Kim
bin Campbell
Abdul Ghani Mohamed Raja Othman Teo Poh Jin
Abdul Hamid Tupling

CIMB-Principal Bond Fund 19/08/2004
11/07/2005
24/04/2007
03/01/2008
CIMB-Principal Global Titans Fund 11/07/2005
CIMB-Principal Emerging Asia Fund 16/11/2005
CIMB-Principal Global Asset Spectra Fund 13/11/2006
CIMB-Principal Greater China Equity Fund 12/06/2007
CIMB-Principal Lifecycle Funds 12/07/2007
CIMB-Principal ASEAN Equity Fund 12/09/2007
CIMB-Principal Climate Change Equity Fund 27/09/2007
CIMB-Principal MENA Equity Fund 21/2/2008
CIMB-Principal Asia Infrastructure Equity Fund 25/3/2008
CIMB-Principal Equity Income Fund 24/04/2007 17/08/2006 03/01/2008
186
Investment Committee Members
Name: Kim Teo Poh Jin * Badlisyah bin Abdul Ghani

Position: Executive Director and Chief Executive Officer, Group Head, Islamic Banking Division CIMB Group.
Boardroom Limited Executive Director and Chief Executive Officer, CIMB
Director, Marina Yacht Services Pte. Ltd. Islamic Bank Berhad
Experience: He has about 25 years of experience in the financial Has been an Alternate Director of CIMB-Principal since
industry, having worked in senior positions of major 8 October 2008.
financial institutions. Joined CIMB in 2002 and was attached to the Corporate
Finance Division, prior to his appointment as Head of
CIMB Group Islamic Banking Division. He was
appointed as Executive Director and Chief Executive
Officer of CIMB Islamic Bank Berhad in 2006. He is
responsible for all Islamic banking and finance business
of the CIMB Group.
Qualifications: Bachelor of Arts majoring in Economics from the Heriot- Bachelor of Laws Degree from the University of Leeds.
Watt University of Edinburgh.
Name: A. Huzaime bin Abdul Hamid * Fadl bin Mohamed *

Position: Independent Researcher. Managing Director, Maestro Capital Sdn. Bhd.
Experience: Has over 19 years of experience in the finance industry Has more than 15 years exposure in the areas of law
including 12 years in asset management and 2 years as and finance.
Dealers Representative. He is a holder of the Capital Markets Services
Representative's Licence for corporate finance advisory
and his previous experiences include working for an
international investment bank and the Securities
Commission.
Qualifications: Master of Science in Financial Economics from the School Bachelor of Laws (Hons) from the University of London;
of Oriental and African Studies, University of London, Certified Diploma in Accounting and Finance
United Kingdom; Bachelor of Science in Economics from (Association of Chartered Certified Accountants).
Louisiana State University, United States of America.
Name: Raja Noorma Binti Raja Othman John Campbell Tupling

Position: Chief Executive Officer of CIMB-Mapletree Management Chief Executive Officer / Executive Director
Sdn. Bhd. and Director of the Group Asset Management
arm of CIMB.
Experience: Has been a Director of CIMB-Principal since 24 April Has been an Alternate Director of CIMB-Principal since
2007. 22 March 2004 and was redesignated as a principal
Prior to joining CIMB Group in 2005, she was the Vice- Director of CIMB-Principal since 22 August 2007 upon
President of Investment Banking for JP Morgan, a position his move to Malaysia. He was appointed the Chief
she held for over 5 years. She was attached to JP Executive Officer / Executive Director of CIMB-Principal
Morgans offices in Hong Kong, Singapore and Malaysia on 1 November 2008. Has spent more than 11 years in
as both industry and client coverage banker. At JP various positions with Principal Financial Group
Morgan, she originated and executed several transactions including COO Asia (based in Hong Kong), Co-Head
involving corporate advisory, equity and debt capital of Institutional Pension Segment (based in USA) and
markets, private equity, cross border mergers and Managing Director of Principal International Spain.
acquisitions and IPO transactions. She also has over 10 Previous experience was 15 years with American
years experience in industry with Malaysias largest International Group in various capacities including
telecommunications company, Telekom Malaysia Berhad, Managing Director of AIG Mexico and AIG La
where the last post she held was Head of Corporate Tandilense (Argentina).
Finance.
Qualifications: Bachelor of Business Administration degree from Ohio Bachelor of Arts, University of Western Ontario,
University, United States of America under a twinning Canada.
programme with Institut Teknologi MARA.
* Independent Member
187
The Board of Directors
There are 13 members sitting on the Board of Directors of CIMB-Principal including four (4) Independent Directors and two (2)
Alternate Directors. The Board of Directors oversees the management and operations of CIMB-Principal and meets every two (2)
months.
Name: Dato Mohd Shukri Hussin (Alternate Director to Dato Datuk Noripah binti Kamso
Charon Wardini bin Mokhzani)
Position: Executive Director of CIMB Group Holdings Berhad Director of CIMB-Principal.
(formerly known as Bumiputra-Commerce Holdings
Berhad).
Experience: Dato Shukri was previously the Chief Operating Officer of Joined CIMB-Principal in September 2004 and became its
CIMB Group Holdings Berhad. He has held various senior Director in February 2005. Has over 23 years experience
positions within the CIMB Group including as Chief in corporate credit and lending. Has 9 years in derivatives
Executive Officer of Bank Muamalat Malaysia Berhad from broking business as CEO of CIMB Futures. She has
1999 to 2003 and Chief Executive Officer of CIMB successfully overseen CIMB-Principals further expansion
Securities Sdn Bhd (now known as CIMBS Sdn Bhd) from into new regional South East Asia markets and
1992 to 1999. He was appointed as a Director of CIMB institutional mandates. Is currently a Council Member of
Group Holdings Berhad on 3 January 2006. On 8 May Federation of Investment Managers Malaysia (FIMM) and
2006, he was appointed as President Commissioner of PT Board Member of CIMB-Principal (S) and President
Bank CIMB Niaga Tbk. He is also a Director of CIMB Commissioner of PT CIMB Principal Asset Management.
Group, CIMB Bank, CIMB Islamic Bank, Commerce
Capital (Labuan) Limited, CIMB Bank (Labuan) Limited, a
Trustee of Yayasan Laporan Kewangan, Director and
Chairman of CIMB Aviva Assurance Berhad and CIMB
Aviva Takaful Berhad; Chairman of CIMB Wealth Advisors
and Chief Executive Officer of the Board of Trustee of
CIMB Foundation.
Qualifications: He holds a Bachelor of Economics (Hons) degree from the Bachelor in Business Administration (Northern Illinois
University of Malaya and qualified as a Chartered University, Dekalb, Illinois, USA); Master in Business
Accountant with the Institute of Chartered Accountants in Administration (Marshall University, Huntington, West
England and Wales. Virginia, USA).
Name: Raja Noorma Binti Raja Othman Dato Charon Wardini bin Mokhzani
Position: Chief Executive Officer of CIMB-Mapletree Management Executive Director, CIMB Investment Bank Berhad.
Sdn. Bhd. and Director of the Group Asset Management
arm of CIMB.
Experience: Has been a Director of CIMB-Principal since 24 April Has been a Director of CIMB-Principal since 23 November
2007. 2004. Currently the Deputy Chief Executive Officer,
Prior to joining CIMB Group in 2005, she was the Vice- Corporate & Investment Banking of CIMB Group and
President of Investment Banking for JP Morgan, a position Executive Director of CIMB Investment Bank Berhad, has
she held for over 5 years. She was attached to JP previously served as an independent non-executive
Morgans offices in Hong Kong, Singapore and Malaysia director of CIMB Berhad from 22 December 2002 to 11
as both industry and client coverage banker. At JP July 2003. Prior to his current position, he was the
Morgan, she originated and executed several transactions Managing Partner of Malaysias then largest law firm.
involving corporate advisory, equity and debt capital
markets, private equity, cross border mergers and
acquisitions and IPO transactions. She also has over 10
years experience in industry with Malaysias largest
telecommunications company, Telekom Malaysia Berhad,
where the last post she held was Head of Corporate
Finance.
Qualifications: Bachelor of Business Administration degree from Ohio LLB. Hons. (The School of Oriental and African Studies,
University, United States of America under a twinning University of London); BA Hons. in Philosophy, Politics &
programme with Institut Teknologi MARA. Economics (Balliol College, University of Oxford).
Name:
Name: Peter William England John Campbell Tupling
Position: Head of Retail Banking CIMB Bank Berhad. Chief Executive Officer / Executive Director
Experience: Has been a Director of CIMB-Principal since 24 April Has been an Alternate Director of CIMB-Principal since 22
2007. March 2004 and was redesignated as a principal Director
2006-current Head Retail Banking CIMB Bank Berhad of CIMB-Principal since 22 August 2007. He was
2004-2005 Head Retail Banking Hong Leong Bank appointed the Chief Executive Officer / Executive Director
2001-2004 Head Retail Banking RHB Bank Malaysia of CIMB-Principal on 1 November 2008. Has spent more
2000 Securities Institute of Australia than 11 years in various positions with Principal Financial
1997-1999 HSBC Malaysia and Singapore Group including COO Asia (based in Hong Kong), Co-
1979-1996 State Bank of NSW, Australia. Head of Institutional Pension Segment (based in USA)
and Managing Director of Principal International Spain.
Previous experience was 15 years with American
International Group in various capacities including
Managing Director of AIG Mexico and AIG La Tandilense
188
(Argentina).
Qualifications: Masters of Business Administration (MBA) University of Bachelor of Arts, University of Western Ontario, Canada.
Southern Queensland Australia (2004).
Accounting Certificate (1988).
Australian Higher School Certificate (1979).
Name: Rex Auyeung Brig. Gen (R) Dato Arif bin Dato Awang *
Position: Senior Vice President of Principal Financial Group; Chief Executive Officer of Cybron Holdings Bhd. Also a
President Asia of Principal International, Hong Kong. Director of Geoprima (M) Sdn. Bhd. And Tenaga Tiub
Sdn. Bhd.
Experience: Has been a Director of CIMB-Principal since 11 July 2003 Has been a Director of CIMB-Principal since 3 November
and has over 25 years of experience in insurance industry 1995. Also spent 25 illustrious years in the Royal
in Canada and Hong Kong. Malaysian Air Force from 1960 to 1984.
Qualifications: Bachelor of Environmental Studies (Honours) in Urban Master of Science (Cranfield Institute of Technology);
and Regional Planning, University of Waterloo, Canada. Advance Management Program (Harvard Business
School).
Name: Wong Joon Hian* Dato Anwar bin Aji *

Position: Managing Director of Advance Synergy Capital Sdn Bhd. Chairman of Zelan Berhad, Independent Non-Executive
Director of CIMB Islamic Bank Berhad, Director of SPJ
Corporation Berhad and Director of SKS Refinery Sdn
Bhd.
Experience: Has been an independent non-executive director of CIMB- Has been a Director of CIMB-Principal since 24 April
Principal since 22 August 2007. 2007.
1973-1978 Assistant Director Industries Division,
After qualifying as a Chartered Accountant in 1973, he
Ministry of International Trade & Industry
joined Price Waterhouse & Co in England before returning
1978-1980 Principal Assistant Secretary Budget
to Malaysia in 1975. He has accumulated over 30 years of
Division, Federal Treasury, Ministry of
working experience in the areas of audit, accountancy,
Finance
banking, financial services and corporate management.
1980-1981 Principal Assistant Secretary Economic
and International Division, Federal Treasury,
Currently, he is the Managing Director of Advance
Ministry of Finance.
Synergy Capital Sdn Bhd since 22 September 1995 and
1982-1984 Principal Assistant Secretary Foreign
serves as an independent non-executive director in
Investment Committee, Economic Planning
Integrax Berhad, which is a public listed company and
Unit, Prime Minister Department
several other non-listed public companies namely SIBB
1984-1985 Principal Assistant Secretary Investment
Berhad, formerly known as Southern Investment Bank
Division of the Malaysian Tobacco Company
(non-executive director), CIMB Wealth Advisors Berhad
Berhad under the British Malaysia Industry
(independent non-executive director) and SFB Auto
and Trade Association training scheme
Berhad (independent non-executive director).
1986-1991 Deputy Director Petroleum Development
Division, Prime Ministers Department
He is also a director in several other private limited
1991-1993 Principal Assistant Secretary Finance
companies.
Division, Federal Treasury, Ministry of
Finance
1993-1994 Special Assistant The Secretary General of
Ministry of Finance
1994-2004 Managing Director Khazanah Nasional
Berhad
2001-2008 Chairman Faber Group Berhad
2008- Chairman Zelan Berhad
current
Qualifications: Member of the Malaysian Institute of Certified Public Bachelor of Economics (Hons) from the University of
Accountants, the Malaysian Institute of Accountants and a Malaya (1973); Masters of Arts International Studies from
fellow member of the Institute of Chartered Accountants in the Ohio University, USA (1982).
England and Wales.
Name: Ned Alan Burmeister Loong Chun Nee *

Position: Senior Vice President, Chief Operating Officer & Risk Group Chief Investment and Performance Officer, Scomi
Manager, Principal International. Group Bhd.
Experience: Appointed as a Director of CIMB-Principal on 30 Has been a Director of CIMB-Principal since 6 May 2002.
November 2007. Has been with Principal Financial Group Also spent a total of 5 years with Puncak Niaga Group
for more than 28 years in the area of actuarial and and 11 years in Renong Group.
pension services.
Qualifications: Bachelors degree from Drake University, Des Moines, Bachelor of Arts in Economics and Social Studies,
Iowa. Member of Society of Actuaries and the American University of Manchester, England.
Academy of Actuaries.
Name: Badlisyah bin Abdul Ghani (Alternate Director to Raja Noorma Binti Raja Othman)
Position: Group Head, Islamic Banking Division CIMB Group
Executive Director and Chief Executive Officer, CIMB Islamic Bank Berhad
Experience: Has been an Alternate Director of CIMB-Principal since 8 October 2008.
189
Joined CIMB in 2002 and was attached to the Corporate Finance Division, prior to his appointment as Head of CIMB
Group Islamic Banking Division. He was appointed as Executive Director and Chief Executive Officer of CIMB Islamic
Bank Berhad in 2006. He is responsible for all Islamic banking and finance business of the CIMB Group.
Qualifications: Bachelor of Laws Degree from the University of Leeds.
*Independent Director
190
Key members of the Investment Team
CIMB-Principal's investment team is jointly responsible for the overall investment decisions made on behalf of the Funds. The key
members of the Investment Team are:
Name: Raymond Tang Arnold Lim Boon Lay

Responsibility: Group Chief Investment Officer. Designated Fund Executive Vice President, Equities. Designated Fund
Manager for CIMB-Principal Wholesale Equity Fund. Manager for all CIMB-Principal equity and mixed asset
funds.
Experience: He has been with CIMB-Principal since 1 October 2004. Mr Lim started his career at Citibank NA Malaysia where
He has over 20 years of experience in the asset he worked for 5 years. Later, as GM of a local asset
management business, managing both institutional and management house, its discretionary fund composite was
unit trust funds. Prior to joining CIMB-Principal, he was ranked No 1 from 1994 to 1998 on Information Ratio by
the Chief Investment Officer/Executive Director of CMS Watson Wyatt. He was previously Head of Research of
Dresdner Asset Management from 1996 to 2004 and was ING Barings Malaysia. AsiaMoney ranked him as 2nd
jointly responsible in making regional asset allocation best strategist in 2001.
decisions within the Asia-Pacific ex-Japan. He began his
career as an investment officer in RHB Asset
Management in 1987 for 4 years, before moving on to
CIMB Securities as an investment executive for 1 year. In
1992, he joined SBB Asset Management as a fund
manager until 1996. Currently, he is the Chairman of
Malaysian Association of Asset Managers (MAAM) and a
committee member of FTSE Bursa Malaysia Index
Advisory Committee as well as an invitee in the Executive
Committee of Malaysia International Islamic Financial
Centre (MIFC).
Qualifications: Fellow of the Chartered Institute of Management Master of Business Administration (University of
Accountants (CIMA) United Kingdom. Holds a Capital California, Berkeley); Chartered Financial Analyst. He
Markets Services Representatives License for fund holds a Capital Markets Services Representatives
management under CMSA. License for fund management under CMSA.
Name: Nor Hanifah binti Hashim Wu Yah Ning

Responsibility: Fixed Income. Designated Fund Manager for all CIMB- Funds Management, Investment.
Principal bond funds and money market funds.
Experience: Joined CIMB-Principal from CIMB in January 2005. She Joined CIMB-Principal in November 2008. She was
was previously the Head of Fixed Income Services at previously the Head of Investment in a local affiliate of an
CIMB. She was with CIMBs Debt Markets and International Investment Management Firm. She has 13
Derivatives Department for almost 12 years and had years of experience in the investment and financial
been managing fixed income portfolios for CIMBs clients. industry.
Qualifications: Bachelors degree of Science in Economics & BSc (Econ) Accounting and Finance from London School
International Relations from the University of Wisconsin of Economics, England and MSc in Investment
Madison, USA and an America Associate of Arts Degree Management (with Distinction) from City University
from the State University of New York at Buffalo, USA. Business School in London, England. She is a CFA
She is a member of the Financial Markets Association of Charterholder and she also holds a Capital Markets
Malaysia. She holds a Capital Markets Services Services Representatives License for fund management
Representatives License for fund management under under CMSA.
CMSA.
Material litigation and arbitration

As at LPD, there is no litigation or arbitration proceedings current, pending or threatened against or initiated by CIMB-Principal nor
do there exist any facts likely to give rise to any proceedings which might materially affect business/financial position of CIMB-
Principal or any of its delegates.
Fund Administrator for EGF, EIF, GGF, GBF and AEF

The Manager has applied and obtained the SCs approval for the appointment of Citibank Berhad (297089-M) as the Fund
Administrator to undertake the funds administration services for the foreign portfolios of EGF, EIF, GGF, GBF and AEF. The funds
administration services principally involve the valuation of the foreign portfolio of the said Funds and consequently, producing the
NAV reports of the said foreign portfolios. The Manager will then use the NAV reports to compute and generate the said Funds
NAV and pricing.
With a continuing presence in Malaysia for almost 50 (since 1959) years, Citi has offered securities services in Malaysia since 1985
and was the first American bank to open a branch in the country.
In 1994, Citibank N.A. Malaysia became a locally incorporated Malaysian company, Citibank Berhad, making it the first American
bank to become locally incorporated. Citibank Berhad is a wholly owned subsidiary of Citibank N.A. through the Citigroup Holdings
(Singapore) Pte Ptd (CHSPL). CHSPL is the parent company of Citibank Berhad. The incorporation exercise resulted in Citibank
Berhad as sub-custodian in Malaysia for Citibank N.A.
191
Citibank Malaysias custody services business is carried out through Citigroup Nominee (M) Sdn Bhd, which was incorporated on
July 16, 1985 as a subsidiary of Citibank N.A. Malaysia. The custody service is undertaken by the Securities and Funds Service
unit within the Global Transaction Services division in Citi.
With respect to our custody experience in Malaysia, Citibank Malaysia has over 20 years experience in the custody business since
its inception in 1985 and have been servicing both local and foreign clients. As a custodian, Citi is an Authorised Depository
Member of the Bursa Malaysia Depository (BMD) and a Non-Trading Clearing Participant (NTCP) of the clearing house of Bursa
Malaysia, i.e. Bursa Malaysia Securities Clearing. These memberships allow Citi to be a market participant in settling Transfer and
Institutional Settlement Service (ISS) transactions.
In terms of fund administration services, Citibank Malaysia has been offering the services since 2004. Fund administration services
are provided out of the Kuala Lumpur Centre of Excellence and there will be a dedicated team of experienced personnel providing
this service to CLIENT at all times, if required.
Citi is the largest settlement bank in Malaysia with an established market presence of 35 percent share in settlement transaction
and 20 percent share in assets under custody (AUC).
192
The Sub-Managers
About CIMB-Principal Asset Management (S) Pte Ltd
CIMB-Principal Asset Management (S) Pte Ltd (CIMB-Principal (S)) was appointed as the Sub-Manager for the CIMB-Principal
Emerging Asia Fund, CIMB-Principal Global Titans Fund and CIMB-Principal Global Asset Spectra Fund on 26 December 2007. It
was appointed as the Sub-Manager for the CIMB-Principal Asian Equity Fund on 1 September 2008. In addition, prior to the
change of manager from CIMB Wealth Advisors Berhad (209627-H) to CIMB-Principal, CIMB-Principal (S) was also appointed as
the Sub-Manager for the foreign investments of CIMB-Principal Equity Growth & Income Fund, CIMB-Principal Equity Growth Fund
and CIMB-Principal Equity Income Fund on 26 December 2007 and was granted the discretion to manage, realise, invest, reinvest
or howsoever deal with the respective portion of these Funds allocated to foreign investments in accordance with the investment
objectives of each of these Funds. The Sub-Managers discretionary authority over the foreign investments of these Funds is
subject to the Guidelines, the CMSA and the internal policies and procedures. Following the change of manager from CIMB Wealth
Advisors Berhad (209627-H) to CIMB-Principal, CIMB-Principal (S) continues to assume the role of Sub-Manager for the foreign
investments of CIMB-Principal Equity Growth & Income Fund, CIMB-Principal Equity Growth Fund and CIMB-Principal Equity
Income Fund. CIMB-Principal shall be responsible for the review, monitoring and oversight of CIMB-Principal (S) in the
performance of its duties and obligations in respect of these Funds.
CIMB-Principal (S) was incorporated in Singapore on 18 May 2006. The company is a wholly-owned subsidiary of CIMB-Principal
Asset Management Berhad in Malaysia. CIMB-Principal (S) is an international asset management company established in
Singapore offering both Islamic and conventional fund management services. The company manages regional investment activities
for the CIMB-Principal Asset Management group of companies.
CIMB-Principal (S) is a licensed fund manager under the Monetary Authority of Singapore. As at LPD, CIMB-Principal (S) has six (6)
staff including three (3) fund managers and one (1) investment analyst. The company is the fund manager for CIMB FTSE ASEAN
40 ETF and several other discretionary accounts and has total assets under management of about SGD684.28 million as at LPD.
Board of directors of CIMB-Principal Asset Management (S) Pte Ltd:
John Campbell Tupling - Director

Datuk Noripah Kamso - Director
Tang Chee Kin - Director
Goh Zee Wei Ken - Director & CEO
Key management staff of CIMB-Principal Asset Management (S) Pte Ltd
Ken Goh Chief Executive Officer / Head, International Investment

Mr Goh is the designated person responsible for the investment management of the foreign investments of these Funds. He joined
CIMB-Principal Asset Management (S) Pte. Ltd. in Jan 2007 as CEO / Director and Head, International Investment.
Prior to joining CIMB-Principal, Mr Goh was Director of Investment and served as an Executive Director on the management team
at APS Asset Management. From June 2004 to February 2005, he was Head of Investment Advisory, Asia for MeesPierson. Mr
Goh has also served as Chief Investment Officer, Singapore for Allianz Dresdner Asset Management as well as Executive Director
of Phillip Capital Management during its start-up phase. From 1994 to 2000, Mr Goh served as a Manager with the GIC
(Government of Singapore Investment Corp).
Mr Goh graduated from the National University of Singapore as Bachelor of Business Administration with a 1st Class Honors. He is
a Chartered Financial Analyst (CFA) charter-holder since 1997.
Christopher Leow Vice President, International Investment

Mr Leow joined CIMB-Principal in December 2003 and was transferred to CIMB-Principal (S) on 2 May 2007. He brings with him 7
years of experience in financial research and 10 years in fund management. He obtained his fund managers representatives
license in January 1999 and holds a Bachelor of Commerce in Accounting and Finance (Hons) from the University of Western
Australia. He is also a Chartered Financial Analyst and Certified Financial Planner. He obtained his Capital Markets Services
Representative License from the Monetary Authority of Singapore in September 2007.
Neo Wei Chiat Compliance Manager

Mr Neo joined CIMB-Principal Asset Management (S) Pte Ltd on 4 August 2008, and has 7.5 years of compliance experience in the
financial industry in Singapore, as well as 2 years experience as an auditor. He holds a Bachelor of Accountancy from the Nanyang
Technological University in Singapore.
Key person responsible for investment management of the CIMB-Principal Equity Growth & Income Fund, CIMB-Principal
Equity Growth Fund, CIMB-Principal Equity Income Fund, CIMB-Principal Emerging Asia Fund, CIMB-Principal Global
Titans Fund, CIMB-Principal Global Asset Spectra Fund and CIMB-Principal Asian Equity Fund.
Christopher Leow Fund Manager

Mr Leows profile is disclosed above.
193
About Templeton Asset Management Ltd
Prior to the change of manager from CIMB Wealth Advisors Berhad (209627-H) to CIMB-Principal, CIMB-Principal (as the
investment manager of CIMB-Principal Global Growth Fund,and CIMB-Principal Global Balanced Fund had delegated the
investment management function of these Funds to Templeton Asset Management Ltd (TAML) on 17 November 2005, 10
February 2006 and 1 March 2006 respectively and granted it with the discretion to manage, realise, invest, reinvest or howsoever
deal with these Funds in accordance with the investment objectives of each of these Funds. The Sub-Managers discretionary
authority over the investments of these Funds is subject to the Guidelines, the CMSA and the internal policies and procedures.
Following the change of manager from CIMB Wealth Advisors Berhad (209627-H) to CIMB-Principal, TAML continues to assume
the role of Sub-Manager of CIMB-Principal Global Growth Fund and CIMB-Principal Global Balanced Fund. CIMB-Principal shall be
responsible for the review, monitoring and oversight of TAML in the performance of its duties and obligations in respect of these
Funds.
TAML is an indirectly owned subsidiary of Franklin Resources Inc. which through its subsidiaries, managed USD602.5 billion of
assets comprising of USD264.6 billion in equities, USD109.4 billion in balanced/hybrid, USD222.6 billion in fixed income securities
and USD5.9 billion in money market as at 30 April 2010.
TAML is an indirectly wholly owned subsidiary of Franklin Resources, Inc., which operates as Franklin Templeton Investments
(FTI), a global investment organization with over 60 years of investing experience. As of 30 April 2010, FTI, through its
subsidiaries, reported month end assets under management of USD602.5 billion and has offices in over 30 countries and employs
more than 7,500 staff.
Franklin Templeton Investments marked its presence in Singapore with the set up of a research office in 1990. TAML was officially
incorporated in September 1992 and was registered as an Investment Advisor with the Authority under the now repealed Securities
Industry Act. Templeton Asset Management Ltd currently holds a Capital Markets Services Licence for fund management issued by
the Authority pursuant to the Securities and Futures Act. TAML also holds the Investment Advisor license issued by the US
Securities & Exchange Commission and its Hong Kong branch holds the Type 9 Fund Management license issued by the Hong
Kong Securities & Futures Commission.
TAML has been credited for providing innovative and creative investment products to the Singapore investing public since it
pioneered Singapores first umbrella and feeder fund, Franklin Templeton Funds, in 1996. TAML manages USD38,563.9 billion
worth of assets as of 28 February 2010.
As at 31 May 2010, TAML manages 11 unit trust funds.
Board of directors of Templeton Asset Management Ltd
Dr Joseph Benhard Mark Mobius - Managing Director Templeton Asset Management Ltd
Vijay Advani - Director, Templeton Asset Management Ltd
Jed A. Plafker - Director, Templeton Asset Management Ltd
Gregory E. McGowan - Director, Templeton Asset Management Ltd
Dennis Lim Chong Boon - Director, Co-CEO, Templeton Asset Management Ltd
Director, Franklin Templeton Asset Management (Malaysia) SDN BHD
(FTAM)
Wu Wai Kwok Tom - Director, Templeton Asset Management Ltd
Mark Browning - Director, Co-CEO, Templeton Asset Management Ltd
Director, Franklin Templeton Asset Management (Malaysia) SDN BHD
(FTAM)
Key Management Staff of TAML
Dr Mark Mobius Managing Director/Portfolio Manager, Templeton Asset Management Ltd
Dr Mark Mobius joined the Templeton organisation in 1987 as president of the Templeton Emerging Markets Fund Inc. in Hong
Kong. He currently directs the analysts based in Templetons eleven emerging markets offices and manages the emerging markets
portfolio.
Dr Mobius has spent over thirty years working in Asia and other parts of emerging markets world. As a result of his experience, Dr
Mobius was appointed joint chairman of the World Bank and Organisation for Economic Cooperation and Development (OECD)
Global Corporate Governance Forums Investor Responsibility Taskforce. He was named by Asiamoney magazine in 2006 as one
of "Top 100 Most Powerful and Influential People." In 2001, Dr Mobius was awarded Emerging Markets Equity Manager of the
Year 2001 by International Money Marketing in the United Kingdom. In 1999, Dr Mobius was name one of the Ten Top Money
Managers of the 20th Century in a survey by the Carson Group, a leading global capital markets intelligence consulting firm. In the
1998 Reuters survey, Dr Mobius was name the number one global emerging markets fund manager, CNBC named him 1994 First
in Business Money Manager of the Year. Morningstar in the United States awarded Dr Mobius the Closed-End Fund Manager of
the Year for 1993. In 1992, Dr Mobius was named Investment Trust Manager of the Year by the Sunday Telegraph in the United
Kingdom.
Dr Mobius holds Bachelors and Masters degrees from Boston University, and earned a Ph.D in economics and political science
from Massachusetts Institute of Technology. Dr Mobius has studied at the University of Wisconsin, University of New Mexico, and
Kyoto University in Japan. Dr Mobius is the author of the books The Investors Guide to Emerging Markets, Mobius on Emerging
Markets and Passport to Profits.
194
Dennis Lim Chong Boon Director / Co-CEO / Portfolio Manager, Templeton Asset Management Ltd
Director, Franklin Templeton Asset Management (Malaysia) SDN BHD (FTAM)
Dennis Lim joined Templeton Asset Management Ltd in July 1990. He co-manages a number of Templetons emerging markets
funds, including the NYSE-listed Templeton Emerging Markets Fund, one of the worlds first emerging markets products, as well as
Templeton Developing Markets Trust, Templetons largest emerging markets fund.
Prior to joining Templeton, Dennis worked for the Government of Singapores Ministry of National Development. He is a specialist
on building regulations and urban planning requirements in Singapore and the ASEAN region. Dennis was appointed as a director
Templeton Asset Management Ltd in 1995. He holds a M.S. from the University of Wisconsin-Milwaukee (Beta Gamma Sigma,
Delta Chapter of Wisconsin) and B.Sc. from the National University of Singapore. He served on the Executive Committee of the
Investment Management Association of Singapore from 1997 to 2003.
Ong Tek Khoan Executive Vice President / Portfolio Manager, Templeton Asset Management Ltd
Ong Tek Khoan joined Franklin Templeton Investments in 1993 in San Mateo California. In 1995, he joined Templeton Asset
Management Ltd in Singapore. While in San Mateo, he developed and managed a Franklin fixed-income fund. He currently co-
manages a number of Templetons emerging markets equity funds.
Prior to joining Templeton, Mr Ong worked at the Monetary Authority of Singapore, for more than five years. He holds an MBA with
Distinction from the Wharton School, University of Pennsylvania, and was also on the Directors list. In addition, Mr Ong has a M.S.
in computing science, and B.S. in civil engineering, with Honors from Imperial College, University of London. He is a Chartered
Financial Analyst (CFA) charterholder.
Alan Chua Executive Vice President / Portfolio Manager, Templeton Asset Management Ltd
Alan Chua joined the Templeton organization in 2000. He is the lead manager of the Templeton Global Equity Group in Singapore
for a number of institutional and retail clients based both in and outside Singapore. He has research responsibilities for auto
components and machinery, as well as research country coverage of Japan, Singapore and Malaysia.
Prior to joining Templeton, Mr Chua was Associate Director with UBS Asset Management, where he was the portfolio manager for
two Asian emerging market funds and had primary research responsibility for banks and consumer stocks across Asia and
coverage for Thailand, Indonesia, and South Korea. He has also worked for Deutsche Bank AG as a senior corporate relationship
officer.
Mr Chua holds a B.Sc. in Economics from the University of Oregon and an MBA from the London Business School. He is a
Chartered Financial Analyst (CFA) charterholder.
Mark Browning Managing Director, Asia & the Middle East / Director, Templeton Asset Management Ltd
Mark Browning joined Franklin Templeton as the country head of Templeton Asset Management, Singapore in 1998. He
subsequently was appointed to the position of Regional Head of Hong Kong, Singapore and Taiwan. In 2005, he became CEO of
the Korea office to oversee Franklin Templetons Korea business, while also serving as the Regional Head for North Asia (Korea,
Hong Kong and Taiwan). He was promoted to Managing Director, Asia in 2006.
Mark has been in the asset management industry for over 20 years. Before moving to Asia in 1994, Mark was responsible for
business development and sales in Scandinavia and Switzerland for a major fund management company.
Stephen Grundlingh Country Head, Singapore & Senior Director, Regional Head, SEA, Templeton Asset Management Ltd
Stephen Grundlingh is the Country Head for Templeton Asset Management in Singapore.
Stephen Grundlingh is Regional Head: South East Asia and Country Head of Templeton Asset Management Ltd. (Singapore). In
this position, he is responsible for Franklin Templetons institutional and retail business development in South East Asia.
Mr Grundlingh joined Franklin Templeton Investments in 1996 during which time he has held various positions within the firm. Prior
to his relocation to Singapore in April 2006, he was responsible for Franklin Templeton Investments African operations, based out
of Johannesburg, South Africa.
Before joining Franklin Templeton, Mr Grundlingh worked for South Africas Department of Foreign Affairs, where he served in
diplomatic posts in both New York and London between 1990 and 1996.
Mr Grundlingh graduated with a B.A in law and politics from the University of Stellenbosch, South Africa.
Lim Seh Kuan VP, Finance (Asia) / Company Secretary, Templeton Asset Management Ltd
Lim Seh Kuan joined Templeton in February 1998 as a Senior Accountant. She is now the Financial Controller and has overall
responsibility of the finance and tax functions in the Asia Pacific region. She leads a team of accountants based in Singapore, Hong
Kong, Seoul, Melbourne, China, Japan, and India; and has helped set up accounting departments for both local and overseas
offices. She ensures that policies and internal control procedures are consistent with that of head office, and provides tax and
financial advice to management. She has also been appointed as the Company Secretary.
Prior to joining Templeton, Ms Lim was with CMG First State Investments where she was responsible for the company accounting,
tax and treasury functions, and acted as Company Secretary for the company. She was also previously with PriceWaterhouse as a
Tax Senior.
195
Ms Lim graduated with a Bachelor in Accountancy, and is a Chartered Company Secretary and Certified Public Accountant.
Sharon Seow Director, FTS Products & Client Services, Asia, Templeton Asset Management Ltd
Sharon Seow joined Franklin Templeton in November 2000. She supports local management oversight of the Investment Creations
and Portfolio Administration teams in Singapore. Sharon also leads a team providing strategic client service support to various
internal business units in the Asian region.
Prior to joining Franklin Templeton, Sharon worked for Reuters Asia Ltd in the Financial Information Group.
Miss Seow is a graduate of the University of British Columbia, Vancouver, Canada and holds a Bachelor of Commerce (Finance)
(Honours).
Kellie Hargraves Chief Compliance Officer, Templeton Asset Management Ltd
Miss Hargraves joined Franklin in January 2007, as Chief Compliance Officer of Franklin Templeton Investments, Europe. Kellie is
responsible for overseeing all compliance activities of the International Compliance Department, developing and implementing
international corporate-wide compliance objectives, and preparing the International Compliance annual Business Unit Review.
Prior to joining Franklin, Miss Hargraves gained regulatory and risk experience as the Head of Compliance, Risk and Business
Continuity Management for BNP Paribas Securities Services (2003-2007). Other regulatory and risk positions Kellie has held is a
Compliance Consultant for AMP Ltd (Henderson Investments) (2002-2003), Head of Compliance at Commonwealth Bank of
Australia (1999-2002) and Audit Manager at NSW Audit Office (1996-1999).
Miss Hargraves holds an Executive MBA at the Australian Graduate School of Management (AGSM), Bachelor of Business Degree
(double major in Finance & Accounting) from Charles Sturt University, Australia, is an Australian Certified Practicing Accountant
(ACPA) and holds a UK Compliance Diploma from UK Securities Institute.
Dr Michael Hasenstab Senior Vice President / Co-Director / Portfolio Manager, Franklin Templeton Fixed Income Group
Michael Hasenstab is a portfolio manager with Franklin Adviser Inc., which is a related company of TAML and appointed to sub-
manage the fixed income portion of the Fund.
Michael Hasenstab initially joined Franklin Templeton Investments in July of 1995. After a leave of absence to obtain his Ph.D., he
rejoined the company in April of 2001. Currently, Dr. Hasenstab is senior vice president, co-director and portfolio manager for the
international bond department of the Franklin Templeton Fixed Income Group. In this position, he co-directs all investment
strategies within the International Fixed Income Group and co-manages the portfolio management team. In addition, he is a
member of the Fixed Income Policy Committee and Global Investment Forum and is a portfolio manager for numerous Franklin
Templeton funds.
Dr. Hasenstab specializes in global macro economic analysis with a focus on currency, interest rate and sovereign credit analysis
of developed and emerging market countries. Dr. Hasenstab has worked and traveled extensively in Asia, published research on
Chinas financial market and consulted global companies on Asia Pacific investments and strategy.
Dr. Hasenstab holds a Ph.D. in economics degree from the Asia Pacific School of Economics and Management at Australian
National University, a masters degree in economics of development from the Australian National University, and a Bachelor of Arts
degree in international relations/political economy from Carleton College in the United States.
Key person responsible for investment management of the CIMB-Principal Global Growth Fund and CIMB-Principal Global
Balanced Fund
Alan Chua Executive Vice President / Portfolio Manager, Templeton Asset Management Ltd
Alan actively manages the CIMB-Principal Global Growth Fund. He also manages the equities portfolio of the CIMB-Principal
Global Balanced Fund. Alans profile is disclosed above.
Dr Michael Hasenstab Senior Vice President / Co-Director / Portfolio Manager, Franklin Templeton Fixed Income Group
Dr Michael actively manages the fixed income portfolio of the CIMB-Principal Global Balanced Fund. Dr Michaels profile is
disclosed above.
196
The Trustees
AmanahRaya Trustees Berhad
AmanahRaya Trustees Berhad (766894-T) (ART) is the Trustee of the CIMB-Principal Equity Growth & Income Fund and
CIMB-Principal Equity Aggressive Fund 1. ART was incorporated under the Companies Act 1965 on 23 March 2007 and
registered as a trust company under the Trust Companies Act 1949. ART is a subsidiary of Amanah Raya Berhad (ARB) which is
wholly owned by the Minister of Finance (Incorporated). ART took over the corporate trusteeship functions of ARB and acquired
ARBs experience of more than 44 years in trustee business. ART has been registered and approved by the SC to act as trustee to
unit trust funds. ART will subsequently substitute for ARB as the existing trustee for the 1 unit trust fund under ARBs trusteeship
and has 140 unit trust funds under ARTs trusteeship. As at LPD, ART has 70 staff (49 Executives and 21 Non-Executives).
ART has an authorized capital of RM5,000,000. Its issued and paid-up share capital is RM2,000,000 and RM1,000,000
respectively.
The shareholders of ART are:

% of equity
Amanah Raya Berhad (344986-V) 20
Amanah Raya Nominees (Tempatan) Sdn Bhd (434217-U) 20
Amanah Raya Capital Sdn Bhd (549057-K) 20
AmanahRaya Capital Group Sdn Bhd (760289-U) 20
AmanahRaya Modal Sdn Bhd (760322-X) 10
Amanah Raya Nominees (Asing) Sdn Bhd (684546-P) 10
ARTs financial performance
The following is a summary of the past performance of ART based on audited financial statements for financial year ended 31
December since its incorporation on 23 March 2007:
Year Ended 31 December

2009 2008 2007
(RM000) (RM000) (RM000)
Paid-up capital 1,000 1,000 1,000
Shareholders Funds 3,624 5,999 6,511
Turnover 20,024 17,282 10,343
Pre-tax profit 14,340 11,783 7,638
After tax profit / loss 10,625 8,597 5,511
Board of Directors and CEO of ART
Datuk Idrus Bin Harun Chairman

Hajjah Habsah Binti Bakar Director / Chief Executive Officer
Dato Ahmad Rodzi Bin Pawanteh Director
Datin Aminah Binti Pit Abd Raman Director
Puan Alina Binti Hashim Director
Tuan Haji Ab. Gani Bin Haron Director
Dato Haji Ahmad Kamal Bin Abdullah Al-Yafii Director
Encik Zainudin Bin Hj. Suhaimi alternate to Hajjah Habsah Binti Bakar
ARTs Delegate
ART has delegated its custodian function from the foreign investments of the EGIF to HSBC Institutional Trust Services (Singapore)
Limited. HSBC Institutional Trust Services (Singapore) Limited is registered trust company under the Trust Companies Act, Chapter
336 of Singapore, and is part of the HSBC Group which is one of the largest banking and financial services, organisations in the
world. HSBCs international network comprises around 9,500 offices in 86 countries and territories in Europe, the Asia-Pacific
region, the Americas, the Middle East and Africa.
ART has delegated its custodian function for the foreign investments of the EAF1 to Citibank N.A, Singapore branch. Citibank N.A.
in Singapore began providing a security service in the mid-1970s and a fully operational global custody product was launched in
the early 1990s. Today their securities services business claim a global client base of premier banks, fund managers, broker
dealers and insurance company. Currently, Citigroup Singapore has approximately 8,500 employees.
The roles and duties of Citibank N.A. Singapore as the trustees delegate are as follows:
To act as sub-custodian for the selected cross-border investment of the fund(s) including the opening of cash and custody
accounts and to hold in safekeeping the assets of the fund(s), such as equities and bonds.
To act as paying agent for selected cross-border investments which include trade settlement and fund transfer services.
To provide corporate action information or entitlements arising from the above underlying assets and to provide regular
reporting on the activities of the invested portfolios.
197
Mayban Trustees Berhad
Mayban Trustees Berhad (5004-P) (MTB) is the Trustee of the CIMB-Principal ASEAN Equity Fund, CIMB-Principal
Emerging Asia Fund, CIMB-Principal Equity Aggressive Fund 3, CIMB-Principal Balanced Fund, CIMB-Principal Income
Plus Balanced Fund, CIMB-Principal Strategic Bond Fund, CIMB-Principal Small Cap Fund and CIMB-Principal Money
Market Income Fund, and has its registered address at 34th Floor, Menara Maybank, 100 Jalan Tun Perak, 50050 Kuala Lumpur.
MTB was incorporated on 12 April 1963 and registered as a Trust Company under the Trust Companies Act 1949 on 11 November
1963. It was one of the first local trust companies to provide trustee services with the objective of meeting the financial needs of
both individual and corporate clients.
As at LPD, the Trustee has a total of 31 staff, comprising 23 executives and 8 non-executives.
MTBs financial information
Summary of MTBs audited financial figures for financial years ended 30 June:
Year Ended 30 June

2009 2008 2007
(RM000) (RM000) (RM000)
Paid-up capital 500 500 500
Turnover 8,975 9,760 8,548
Profit Before Taxation 7,645 7,958 7,185
Profit After Taxation 5,730 5,916 5,291
Board of Directors of MTB
Encik Zainal Abidin Jamal Non Independent Director & Chairman

Datuk Johar Che Mat Non-Independent Director
Dato Tan Tat Wai Independent Director
Encik Badirul Ismail Chief Executive Officer
Experience in trustee business
With more than 18 years experience as Trustee to unit trust funds/schemes, MTB has under its trusteeship a total of fifty-six (56)
unit trust funds and three (3) real estate investment trusts.
Delegate of Custodian Function
MTB has delegated its custodian function to Malayan Banking Berhad. The custodian function is run under Maybank Custody
Services (MCS), a unit within Malayan Banking Berhad. MCS commenced operations in 1983 and has been appointed as
custodian of unit trust funds since 1989. It provides clearing and custody services for Malaysian equity and fixed income securities
to domestic and foreign institutional clients. In addition, it offers global custody services to domestic institutions / clients that have
foreign investments. MCS has a staff strength of 30 employees, comprising 1 Sector Head, 2 Unit Heads, 23 Executives and 7
Non-Executives as at 16 April 2010.
The roles and duties of the trustees delegate Maybank Custody Services (MCS), a unit within Malayan Banking Berhad, are as
follows:
Safekeep, reconcile and maintain assets holdings records of funds in accordance with trustees instructions;
Act as settlement agent for shares and monies to counterparties in accordance with trustees instructions;
Act as agents for money market placement where applicable in accordance with trustees instructions;
Disseminate listed companies announcements to and follow through for corporate actions instructions from trustee;
Compile, prepare and submit holdings report to trustee and beneficial owners where relevant; and
Other ad-hoc payments for work done for the funds in accordance with trustees instructions, etc.
MTB has appointed Standard Chartered Bank Malaysia Berhad, as the custodian of the foreign assets of the Fund. The assets are
held in the name of the Fund through the custodians wholly owned subsidiary and nominee company, Cartaban Nominees
(Tempatan) Sdn Bhd. The assets are automatically registered into the name of the Fund. Standard Chartered in Malaysia has been
providing custody services for more than twenty (20) years: providing sub-custody services to foreign clients since 1989 and the
local custody services to local investors in Malaysia since 1995.
Both custodians act only in accordance with instructions from the Trustee.
198
PB Trustee Services Berhad
PB Trustee Services Berhad (7968-T) (PBTSB) is the Trustee of the CIMB-Principal Bond Fund. PBTSB was incorporated on
24 August 1968 and commenced its operations on 22 January 1969, with its registered and business office at 17th Floor, Menara
Public Bank, 146 Jalan Ampang, 50450 Kuala Lumpur. PBTSB has an authorized share capital of RM1,050,000 and a paid-up
share capital of RM525,000.
PBTSBs financial information
Financial Year ended 31 December (audited):

2009 2008 2007
(RM000) (RM000) (RM000)
Paid-up share capital 525 525 525
Turnover 2,351 1,774 1,688
Pre-tax profit 810 421 481
Net earnings per share 6.19 4.47 3.52
Net dividend per share - - -
Profit after tax 650 469 370
Board of Directors of PBTSB
Dato Yeoh Chin Kee

Dato Haji Abdul Aziz Bin Omar
Mr Leong Kwok Nyem (Head of PB Trustee Services Berhad)
Experience in the trustee business
PBTSBs experience in trustee business has expanded over the past 40 years since its incorporation in 1968. It currently manages
various types of funds in its capacity as trustee. These include private debt securities, writing of wills, management of estates,
trusteeship for golf clubs, recreational clubs and time sharing schemes. PBTSB is also acting as a custodian in its capacity. As at
LPD, it has five (5) unit trust funds and eight (8) Wholesale Funds under its trusteeship.
As at LPD, PBTSB has a staff force of 17 experienced personnel (13 executives and 4 non-executives) to carry out its duties as
Trustee.
PBTSBs Delegate
The Trustee has appointed CIMB Bank Berhad as custodian of the quoted and unquoted local investments of the Fund. CIMB Bank
Berhad began providing a security services in the mid-1980s and a global client base of premier bank, assists investment
advisors/clients, managers of domestic and international portfolios, lending banks and international custodians in the movement
and management of cash and securities. The custodian's custody and clearing services include settlement processing and
safekeeping, corporate related services including cash and security reporting, income collection and corporate events processing.
All investments are automatically registered in the name of the Fund. The custodian acts only in accordance with instructions from
the Trustee.
199
HSBC (Malaysia) Trustee Berhad
HSBC (Malaysia) Trustee Berhad (1281-T) (HSBCT) is the trustee for CIMB-Principal Global Titans Fund, CIMB-Principal
Global Asset Spectra Fund, CIMB-Principal Greater China Equity Fund, CIMB-Principal Climate Change Equity Fund,
CIMB-Principal Lifecycle Funds and CIMB-Principal Deposit Fund. HSBCT is a company incorporated in Malaysia since 1937
and registered as a trust company under the Trust Companies Act 1949, with its registered address at Suite 901, 9th Floor, Wisma
Hamzah-Kwong Hing, No.1 Lebuh Ampang, 50100 Kuala Lumpur. The Trustee is a member of the HSBC Holdings Plc. group of
companies and forms part of the global network of trust companies within HSBC Holdings Plc.
HSBCTs financial information

The Trustee has a paid-up capital of RM 500,000.00. As at 31 December 2009, its shareholders funds totaled RM17.52 million and
it achieved a profit before tax of RM10.93 million.
The following is a summary of the past performance of the Trustee based on audited accounts for the last 3 years:

2009 2008 2007
(RM) (RM) (RM)
Paid-up capital 500,000 500,000 500,000
Shareholders Funds 17,521,023 14,353,116 6,598,539
Turnover 18,006,590 17,843,570 16,911,088
Profit before Tax 10,930,880 10,470,535 9,164,852
Profit after Tax 8,200,407 7,754,577 6,422,083
Board of Directors of HSBCT

Mr Jonathan William Addis
Ms Lim Liang Hua (Managing Director)
Dato Ranita Mohd Hussein
Ms Zainon Baba
Mr Alastair E Murray
Mr Tay Shik Heng
Mr Tay Swee Gim (Alternate to Ms Lim Liang Hua)
Ms Hew Su Chan (Alternate to Mr Tay Shik Heng)
Ms Wong Su Kuin (Alternate to Mr Alastair E Murray)
Experience in Trustee Business

Since 1993, the Trustee has acquired experience in the administration of unit trusts and as at LPD is the Trustee for 195 unit trust
funds (including Exchange-Traded Funds and Wholesale Funds).
As at LPD, the Trustee has a workforce of 41 employees consisting of 31 executives and 10 non-executives. A good number of the
staff has been with the Trustee for many years. This element of continuity reflects an intrinsic characteristic of trust services. The
Trustee also believes in building team and talents by recruiting new members with relevant experiences to replace the long serving
retired colleagues.
Each clients account is under the supervision of a trust officer who is able to focus his personal attention on the administration of
the account and reports directly to his manager.
The Trustee also has a Compliance Section whose responsibilities is to ensure that the Trustees business is carried on in
accordance with all relevant laws, codes, rules and standards of good market practice.
HSBCTs Delegate
The Trustee has appointed The Hongkong And Shanghai Banking Corporation Ltd as custodian of the quoted and unquoted local
investments of the Fund. The assets of the Fund are held through their nominee company, HSBC Nominees (Tempatan) Sdn Bhd.
If and when the Fund should invest overseas, HSBC Institutional Trust Services (Asia) Limited will be appointed as the custodian of
the foreign assets of the Fund. Both The Hongkong And Shanghai Banking Corporation Ltd and HSBC Institutional Trust Services
(Asia) Limited are wholly owned subsidiaries of HSBC Holdings Plc, the holding company of the HSBC Group. The custodians
comprehensive custody and clearing services cover traditional settlement processing and safekeeping as well as corporate related
services including cash and security reporting, income collection and corporate events processing. All investments are
automatically registered into the name of the Fund. The custodian acts only in accordance with instructions from the Trustee.
The Trustee is not liable for central securities depositories or clearing and/or settlement systems in any circumstances.
Anti-money Laundering Provisions

The Trustee has in place policies and procedures across the HSBC Group, which may exceed local regulations. Subject to any
local regulations, the Trustee shall not be liable for any loss resulting from compliance of such policies, except in the case of
negligence, wilful default or fraud of the Trustee.
Statement of Disclaimer
The Trustee is not liable for doing or failing to do any act for the purpose of complying with law, regulation or court orders.
200
Deutsche Trustees Malaysia Berhad
Deutsche Trustees Malaysia Berhad (763590-H) (DTMB) is the trustee for CIMB-Principal MENA Equity Fund. DTMB was
incorporated in Malaysia on 22 February 2007 and commenced business in May 2007. The Company is registered as a trust
company under the Trust Companies Act 1949, with its business address at Level 20, Menara IMC, 8 Jalan Sultan Ismail, 50250
Kuala Lumpur.
DTMB is a member of Deutsche Bank Group, a leading global investment bank with a strong and profitable private clients
franchise. With more than 75,000 employees serving clients in over 70 countries, Deutsche Bank offers unparalleled financial
services throughout the world.
DTMBs financial position

2009 2008 2007
(RM) (RM) (RM)
Paid-up share capital 3,050,000 2,400,000 1,900,000
Revenue 1,131,475 857,236 25,774
Profit / loss before tax (186,041) (634,116) (480,089)
Profit / loss after tax (186,041) (626,587) (487,618)
Board of Directors and CEO of DTMB
Jacqueline William (Chief Executive Officer)

Mohd Ridzal Bin Mohd Sheriff
Janet Choi
Donna Chong Wai Kah
Jalalullail Othman*
Md Nor Ahmad*
* independent director
Experience in trustee business
DTMB is part of Deutsche Banks Trust & Securities Services (TSS), which offers fund administration, trustee services, securities
custody, and includes specialist corporate services offices in a number of tax-efficient locations. As such, DTMB has access to the
expertise of specialists with extensive knowledge of fund and trustee services, coupled with affiliation with one of the worlds largest
financial institutions. As at LPD, DTMB is the trustee for 17 unit trust funds, 13 wholesale funds and 1 exchange-traded fund.
DTMB has suitably qualified and experienced staff in the administration of unit trust funds and have sound knowledge of all relevant
laws, codes, rules and best practices governing the Malaysian unit trust industry. As at LPD, DTMB has 5 staff and all are
executives.
DTMBs trustee services are supported by Deutsche Bank (Malaysia) Berhad (DBMB), a subsidiary of Deutsche Bank Group for
various functions, including but not limited to Financial Control and Internal Audit.
DTMBs Delegate
The Trustee has appointed Deutsche Bank (Malaysia) Berhad (DBMB) as the custodian of the assets of the Fund. In its capacity
as the appointed custodian for a feeder fund, the role of DBMB is to safe keep records of the Funds holdings in the Target Fund.
DBMB is a wholly-owned subsidiary of Deutsche Bank AG, one of the world's largest banks. DBMB offers its clients access to a
growing domestic custody network that covers over 30 markets globally and a unique combination of local expertise backed by the
resources of a leading global bank. With a worldwide team of custody experts, leading-edge technology and a track record of
consistent product innovation, DBMB is committed to delivering exceptional and efficient domestic custody services to its clients.
All investments are automatically registered in the name of the Fund. DBMB shall act only in accordance with instructions from the
Trustee.
201
AmTrustee Berhad
AmTrustee Berhad (163032-V)(AMTB) is the trustee for CIMB-Principal Asia Infrastructure Equity Fund. AmTrustee Berhad
was incorporated on 28 July 1987 and commenced its operations in March 1992, with its registered office at 22nd Floor, Bangunan
AmBank Group, 55, Jalan Raja Chulan, 50200 Kuala Lumpur. AmTB has an authorized share capital of RM1,000,000 and a paid-
up share capital of RM500,000. The shareholders funds stood at RM5,732,058 with a pre-tax profit of RM444,644 for the year
ended 31 March 2009. AmTB has been involved in the unit trust industry as a trustee since 1997. As at LPD, AmTB employs 25
staff comprising 20 executives and 5 non-executives and currently has 26 unit trusts funds (including 2 real estate investment trust
funds) under its trusteeship.
The shareholders and percentage of shareholding:
Shareholders Shareholding (%)

AmInvestment Bank Berhad 20
AmBank (M) Berhad 20
Arab-Malaysian Credit Berhad 20
AmSecurities Holding Sdn Bhd 20
Mekar Angkasa Sdn Bhd 20
Board of Directors and CEO of AmTrustee:
Pushparani d/o A. Moothathamby (Chairman and Non-Independent Director)

Shaharuddin bin Hassan (Non-Independent Director)
Tuan Haji Mohamad Sabirin Bin Hj A. Rahman (Non-Independent Director)
Datuk Haji Mohd Idris Bin Mohd Isa (Independent Director)
Dato Ng Mann Cheong (Independent Director)
YM Raja Amir Shah Bin Raja Abdul Aziz (Chief Executive Officer)
AmTBs financial highlights are as follows:
Year Ended 31 March

2009 2008 2007
(RM) (RM) (RM)
Paid-up capital 500,000 500,000 500,000
Turnover 4,342,967 4,300,916 3,832,894
Pre-tax profit 444,644 413,450 76,718
After-tax profit 327,025 348,159 165,885
AmTBs Delegate for AIEF
AmTrustee Berhad has appointed CIMB Group Nominees (Tempatan) Sdn Bhd (formerly known as Bumiputra-Commerce
Nominees (Tempatan) Sdn Bhd) as the custodian of the local assets of the Fund. CIMB Group Nominees (Tempatan) Sdn Bhd is a
wholly owned subsidiary of CIMB Bank Berhad and assists investment advisors/clients, managers of domestic and international
portfolios, lending banks and international custodians in the movement and management of cash and securities. The custodian's
custody and clearing services include settlement processing and safekeeping, corporate related services including cash and
security reporting, income collection and corporate events processing.
All investments are automatically registered in the name of the Fund. The custodian acts only in accordance with instructions from
the Trustee.
202
Universal Trustee (Malaysia) Berhad
Universal Trustee (Malaysia) Berhad (17540-D)(UTMB) is the trustee for CIMB-Principal Equity Fund, CIMB-Principal
Balanced Income Fund, CIMB-Principal Equity Fund 2, CIMB-Principal Equity Growth Fund, CIMB-Principal Equity Income
Fund, CIMB-Principal Global Growth Fund, CIMB-Principal Global Balanced Fund and CIMB-Principal Asian Equity Fund.
UTMB was incorporated on 5 March 1974 under the Companies Act, 1965. It has an authorized capital of RM5,000,000 divided into
500,000 ordinary shares of RM10 each of which 100,000 ordinary shares of RM10 each are issued and RM5 called and paid-up.
Board of Directors and CEO of UTMB
Tan Sri Dato IR. Talha Bin Haji Mohamad Hashim

Y.A.M. Tunku Dato Seri Nadzaruddin Ibni Almarhum Tuanku Jaafar
Azrin Mirzhan Bin Kamaluddin (alternate to Y.A.M. Tunku Dato Seri Nadzaruddin Ibni Almarhum Tuanku Jaafar)
Huang Chang Yi
Emily Huang Ye (alternate to Huang Chang Yi)
Wong Sai Fong
Putri Noor Shariza Binti Noordin Omar (alternate to Wong Sai Fong)
Mr Liew Kok Wah (Chief Executive Officer cum Company Secretary)
UTMBs financial highlights are as follows:

2009 2008 2007
(RM) (RM) (RM)
Paid-up capital 500,000 500,000 500,000
Turnover 3,591,350 4,166,722 4,082,925
Pre-tax profit 1,037,164 1,256,263 993,028
After-tax profit 801,154 1,007,591 786,735
Experience in the trustee business
UTMB has more than ten years of experience in the unit trust industry. It has steadily continued to grow over the years and
currently employs 31 staff, which comprises 18 executives and 13 non-executives. As at 31 May 2010, it has 35 unit trust funds
under its trusteeship.
UTMBs Delegate
UTMB has appointed Citibank, N.A., Singapore Branch as their delegate for global custody services. Citibank N.A. Singapore
Branch was set up in 1902 and is today the largest foreign bank operating in the territory. With a staff force of about 8,500,
Citibank, N.A. Singapore Branch provides a wide array of banking and financial services to institutions, consumers and professional
markets in the community. Citibank, N.A. in Singapore began providing Securities & Fund Services in the mid-1970s and a fully
operational global custody product was launched in the early 1990's. To date, Citibank, N.A., Singapores Securities & Fund
Services business claims a global client base of premier banks, fund managers, broker dealers and insurance companies.
203
What are the responsibilities of the Trustees?
The Trustees main functions are to act as trustee and custodian of the assets of the Funds and to safeguard the interests of the
Unit holders of the Funds. They shall:
act in accordance with the provisions of the Deeds, the CMSA and the SC Guidelines;
take into its custody the investments of the Funds and hold the investments in trust for the Unit holders;
ensure that the Manager operates and administers the Funds in accordance with the provisions of the Deeds, the CMSA, the
SC Guidelines and acceptable business practice within the unit trust industry;
ensure that it is fully informed of the investment policies of the Funds and of any changes made thereto, and if it is of the
opinion that the policies are not in the interests of the Unit holders, it shall instruct the Manager to take appropriate action as
the Trustees deem fit and/or summon a Unit holders meeting for the purpose of giving such instructions to the Manager as the
meeting thinks proper;
as soon as practicable notify the SC of any irregularity or an actual or anticipated material breach of the provisions of the
Deeds, the SC Guidelines and any other matters which in the Trustees opinion may indicate that the interests of Unit holders
are not being served;
exercise due care, skill, diligence and vigilance in carrying out its functions and duties in actively monitoring the administration
of the Funds by the Manager and in safeguarding the interests of Unit holders;
maintain, or cause the Manager to maintain, proper accounting and other records in relation to those rights and interests, and
of all transactions effected by the Manager on account of the Funds; and
cause those accounts to be audited at least annually by an approved company auditor appointed by the Trustees and send or
cause those accounts to be sent to Unit holders within two (2) months of the relevant accounting period.
Trustees statement of responsibility

The respective Trustees have agreed to assume the position of Trustee of the respective Funds and are willing to assume all its
obligations under the respective Deeds, all applicable written laws and the SC Guidelines. The respective Trustees are entitled to
be indemnified out of the assets of the respective Funds for any liability incurred by the Trustees in performing or exercising any of
its powers or duties in relation to the Funds. This indemnity is in addition to any indemnity allowed by law. However, it does not
extend to liabilities arising from a breach of trust or failure to show the due care and diligence required of the Trustees having
regard to its powers, authorities and discretions under the respective Deeds.
Exemptions or variations
There have been no exemptions or variations from any relevant securities laws or the SC Guidelines granted to the Trustees by the
SC.
204
Material Litigation and Arbitration
As at LPD, neither ART, PBTSB, HSBCT, DTMB, UTMB nor its delegates are engaged in any material litigation and arbitration,
either as plaintiff or defendant, and the Trustee and its delegate are not aware of any proceedings, pending or threatened or of any
facts likely to give rise to any proceedings which might materially and adversely affect their financial position or business.
As at 31 May 2010, save for the suits mentioned herein below, MTB is not engaged in any material litigation as plaintiff or
defendant, and MTB is not aware of any proceedings, pending or threatened or of any facts likely to give rise to any proceedings
which might materially and adversely affect their financial position or business.
The Bondholders of the Al-Bai Bithaman Ajil (ABBA) Bonds issued by Pesaka Astana (M) Sdn Bhd (PASB) have sued PASB for
its failure to meet its Bonds payment obligations under Kuala Lumpur High Court Civil Suit No: D5(D6)-22-1810-2005 (the 1st Suit)
and cited MTB as one of the 12 co-defendants in the 1st Suit. The claim in the 1st Suit is for RM149,315,000.00 or any other sum
that the Court deems fit. The other defendants in the 1st Suit include, amongst others, the Facility Agent, PASBs Chief Executive
Officer, one of PASBs directors and associate companies of the Chief Executive Officer and the said director. MTB has defended
the 1st Suit and its trial has concluded. Judgement is reserved for 30 June 2010.
Connected to the above, Amanah Short Deposits Berhad, a Noteholder of the Combined Commercial Papers and/or Medium-Term
Notes/Letters of Credit/Financial Guarantee facilities (CP/MTN) totalling RM13 million and issued by PASB, have also sued PASB
for full payment under CP/MTN arising from a cross-default by PASB under its ABBA Bonds, in the Kuala Lumpur High Court Civil
Suit No. D2-22-1085-2006 (the 2nd Suit). MTB was cited as one of the 5 co-defendants in the 2nd Suit. The claim in the 2nd Suit is
for RM13 million or any other sum that the Court deems fit and damages. The other defendants in the 2nd Suit are the Facility
Agent, PASBs Chief Executive Officer and one of PASBs directors. MTB is defending the 2nd Suit and it is not yet set for trial.
MTB does not admit liability to both the 1st Suit and the 2nd Suit. MTB is counter-claiming and also claiming indemnity, contribution
or other relief from some of the other parties in the 1st and 2nd Suit. In any event, any successful claim that may be established
against MTB will be covered by MTBs insurer and/or Malayan Banking Berhad as the ultimate holding company of MTB. As such,
the 1st and 2nd Suits will not materially affect the business/financial position of MTB.
For AmTB, save as disclosed below, as at LPD, there is no current material litigation and arbitration, including those pending or
threatened, any facts likely to give rise to any proceedings which might materially affect the business or financial position of AmTB,
or any of their delegates.
A suit dated 12 December 2005 was filed by Meridian Asset Management Sdn Bhd (Meridian) against AmTB in respect of a claim
amounting to RM27.6 million for alleged loss and damage together with interests and costs arising from the AmTBs provision of
custodian services to Meridian (the Suit). The Claim made by Meridian in the Suit includes its own alleged loss and damage and
that of Malaysian Assurance Alliance Berhad (MAA) and Kumpulan Wang Persaraan (diperbadankan) (KWAP).
AmTB was served on 5 October 2006 with an Application to amend the Statement of Claim of the Suit by solicitors acting for
Meridian. The amendment was to add AmInvestment Bank Berhad, a related company, as second Defendant to the Suit and to
further increase the claim by Meridian from RM27,606,169.65 to RM36,967,166.84 for the alleged loss and damage, to include loss
due to reputation damage and loss of future earnings (together with interest and costs) arising from the provision of custodian
services by AmTB to Meridian.
The application was allowed in part on the 23rd January 2009 by the High Court, in that the application to add AmInvestment Bank
Berhad as a Party to the Suit was dismissed whilst the proposed increased claim for the alleged loss from RM27,606,169.65 to
RM36,967,166.84 (the Total Claim) was allowed.
AmTB was also served on 24 March 2006 with a Writ of Summons and Statement of Claim by solicitors acting for Malaysian
Assurance Alliance Bhd (MAA). MAA had appointed Meridian as an external fund manager for certain of its insurance funds and
part of these funds were deposited by Meridian with AmTB. MAA has claimed its portion of the abovementioned alleged loss, being
general damages and special damages of RM19,640,179, together with interest and costs. The fact of this case revolves around
the same facts as that of the Suit and the alleged claim is part of the Total Claim made against AmTB.
AmTB has also been served on 2nd September 2009 with a sealed copy of a Third Party Notice dated 12th August 2009 by solicitors
acting for Meridian. The Third Party Notice is taken against AmTB by Meridian on a suit filed by KWAP against Meridian in 2007, at
the Kuala Lumpur High Court via suit number D5-22-1457-2007. The High Court suit by KWAP is for an alleged breach by Meridian
of an Investment Management Agreement executed between KWAP and Meridian in 2001 (the Agreement) for a sum of
RM7,254,050.42 general damages for breach of the Agreement and breach of trust together with interest and costs (KWAPs
claim). The facts of this case revolve around the same facts as that of the Suit and the alleged claim is part of the Total Claim. .
On the basis of KWAPs claim, Meridian is seeking against AmTB via the Third Party Notice for AmTB to indemnify Meridian in
respect of KWAPs claim.
Based on documents and evidence in their possession, the solicitors of AmTB are of the view that AmTB has a good defence in
respect of the claims.
205
Salient Terms of Deeds
Money invested by an investor in a Fund will purchase a number of units, which represents the Unit holders interest in that Fund.
Each unit held by an investor in a Fund represents an equal undivided beneficial interest in the assets of that Fund. However, the
unit does not give a Unit holder an interest in any particular part of the Fund or a right to participate in the management or operation
of the Fund (other than through Unit holders meetings).
A Unit holder will be recognised as a registered Unit holder in the Fund on the Business Day his/her details are entered onto the
Register of Unit holders.
Rights of Unit holders

A Unit holder has the right, among others, to the following:
To inspect the Register, free of charge, at any time at the registered office of the Manager, and obtain such information
pertaining to its units as permitted under the Deeds and the SC Guidelines;
To receive the distribution of the Fund (if any), participate in any increase in the capital value of the units and to other rights
and privileges as set out in the Funds Deeds;
To call for Unit holders meetings;
To vote for the removal of the Trustee or the Manager through a special resolution;
To receive annual reports, interim reports or any other reports of the Funds; and
To exercise cooling-off for qualified investors.
Unit holders rights may be varied by changes to the relevant Deeds, the SC Guidelines or judicial decisions or interpretation.
Liabilities and limitation of Unit holders

Liabilities
(i) The liability of a Unit holder is limited to the purchase price per unit and the Application Fee paid or agreed to be paid for a
Unit. A Unit holder need not indemnify the Trustee or the Manager if there is a deficiency in the assets of the Funds to meet
the claim of any creditor of the Trustee or the Manager in respect of the Funds.
(ii) The recourse of the Trustee, the Manager and any creditor is limited to the assets of the Funds.
Limitations
A Unit holder cannot:
(i) interfere with any rights or powers of the Manager and/or Trustee under the Deeds;
(ii) exercise a right in respect of an asset of the Funds or lodge a caveat or other notice affecting the asset of the Funds or
otherwise claim any interest in the asset of the Funds; or
(iii) require the asset of the Funds to be transferred to the Unit holder.
For full details of the rights of a registered Unit holder of the Funds, please refer to the Deeds.
206
Maximum fees and charges permitted by the Deeds
This table describes the maximum charges permitted by the Deeds and payable directly by investors.
Charges
Application Fee Withdrawal Fee Switching Fee

% / RM % / RM % / RM
Equity Funds
Any switching fee to be charged will be

based on the difference between the
Up to 10% is application fee charged of the fund to
Up to RM0.05 per
CIMB-Principal Equity Fund charged on the Net be switched from and the fund to be
Unit
Asset Value per Unit switched into. An administrative fee in
relation to switching may be charged as
set out in the Prospectus.

Up to 10% is Up to 5% of the application fee charged of the fund to
CIMB-Principal Equity Fund 2 charged on the Net Net Asset Value be switched from and the fund to be
Asset Value per Unit per Unit switched into. An administrative fee in

CIMB-Principal Equity Aggressive Fund 1 charged on the Net Net Asset Value be switched from and the fund to be

Up to 6% is charged application fee charged of the fund to
CIMB-Principal Equity Aggressive Fund 3 on the Net Asset Nil be switched from and the fund to be
Value per Unit switched into. An administrative fee in

CIMB-Principal Equity Growth Fund charged on the Net Net Asset Value be switched from and the fund to be

CIMB-Principal Equity Growth & Income
charged on the Net Net Asset Value be switched from and the fund to be
Fund

CIMB-Principal Equity Income Fund charged on the Net Net Asset Value be switched from and the fund to be
207
Charges

% / RM % / RM % / RM

CIMB-Principal Small Cap Fund on the Net Asset Nil be switched from and the fund to be
Mixed Assets Funds

CIMB-Principal Balanced Fund on the Net Asset Nil be switched from and the fund to be

CIMB-Principal Balanced Income Fund charged on the Net Net Asset Value be switched from and the fund to be

CIMB-Principal Income Plus Balanced Fund on the Net Asset Nil be switched from and the fund to be

CIMB-Principal Bond Fund on the Net Asset Nil be switched from and the fund to be

CIMB-Principal Strategic Bond Fund on the Net Asset Nil be switched from and the fund to be

CIMB-Principal Deposit Fund charged on the Net Net Asset Value be switched from and the fund to be

application fee charged of the fund to
CIMB-Principal Money Market Income Fund Nil Nil be switched from and the fund to be
switched into. An administrative fee in
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Charges

% / RM % / RM % / RM
Up to 7% of the Net Asset Value per

Up to 7% is charged Up to 5% of the
CIMB-Principal Asia Infrastructure Equity Unit. An administrative fee in relation to
on the Net Asset Net Asset Value
Fund switching may be charged as set out in
Value per Unit per Unit
the Prospectus.

Unit. An administrative fee in relation to
CIMB-Principal ASEAN Equity Fund on the Net Asset Net Asset Value
switching may be charged as set out in
the Prospectus.

CIMB-Principal Asian Equity Fund charged on the Net Net Asset Value be switched from and the fund to be

CIMB-Principal Climate Change Equity Fund on the Net Asset Net Asset Value
the Prospectus.

CIMB-Principal Emerging Asia Fund on the Net Asset Nil be switched from and the fund to be

CIMB-Principal Global Asset Spectra Fund on the Net Asset Net Asset Value
the Prospectus.

CIMB-Principal Global Balanced Fund charged on the Net Net Asset Value be switched from and the fund to be

CIMB-Principal Global Growth Fund charged on the Net Net Asset Value be switched from and the fund to be
(a) A fee of up to 0.50% is chargeable

on the amount switched for each switch
from other equity / balanced funds
managed by the Management
Company into the Fund;
Up to 5.5% is (b) If a switch is made from a money

CIMB-Principal Global Titans Fund charged on the Net Nil market fund / bond fund into the Fund,
Asset Value per Unit maximum fees of up to 5.50% and
3.50%, respectively may be charged in
each switch;
(c) such other sum as may be

determined by the Management
Company from time to time.
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Charges

% / RM % / RM % / RM

CIMB-Principal Greater China Equity Fund on the Net Asset Net Asset Value
the Prospectus.

CIMB-Principal Lifecycle Funds on the Net Asset Net Asset Value
the Prospectus.

CIMB-Principal MENA Equity Fund on the Net Asset Net Asset Value
the Prospectus.
210
This table describes the maximum fees permitted by the Deeds and payable indirectly by investors.
Fees
Management Fee Trustee Fee
% / RM % / RM
Equity Funds
Calculated daily on the Net Asset Value
Size of the Fund Rate per annum
First RM20 million 0.06%

Next RM20million 0.05%
Up to 1.5% per annum, calculated Next RM20 million 0.04%
daily on the Net Asset Value Next RM20 million 0.03%
Next RM20 million 0.02%
Any amount in excess
of RM100million 0.01%
in addition to custodian fee of RM25,000.00

per annum


per annum
Up to 0.06% per annum, calculated daily on

Up to 3.0% per annum, calculated
CIMB-Principal Equity Aggressive Fund 1 the Net Asset Value, but subject to a
daily on the Net Asset Value
minimum fee of RM18,000 per annum.
Up to 2.0% per annum, calculated Up to 1.50% per annum, calculated daily on

daily on the Net Asset Value the Net Asset Value.

CIMB-Principal Equity Growth Fund the Net Asset Value, but subject to a
0.08% p.a. of Net Asset Value of the Fund

calculated on daily basis. This fee may be
Up to 1.50% per annum, calculated increased to a maximum of 0.5%p.a of the
daily on the Net Asset Value Net Asset Value of the Fund subject to
agreement between Manager and the
Trustee.

CIMB-Principal Equity Income Fund the Net Asset Value, but subject to a

the Net Asset Value, but subject to a
CIMB-Principal Small Cap Fund minimum fee of RM18,000 per annum
(excluding foreign sub-custodian fees and
charges).
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Fees
% / RM % / RM
Mixed Asset Funds



per annum



CIMB-Principal Strategic Bond Fund minimum fee of RM18,000 per annum
charges).


CIMB-Principal Deposit Fund the Net Asset Value, but subject to a

CIMB-Principal Money Market Income Fund minimum fee of RM18,000 per annum
charges).

CIMB-Principal Asia Infrastructure Equity Fund minimum fee of RM18,000 per annum
charges).

CIMB-Principal ASEAN Equity Fund minimum fee of RM18,000 per annum
charges).
Up to 0.035% per annum, calculated daily

on the Net Asset Value, but subject to a
CIMB-Principal Asian Equity Fund minimum fee of RM18,000 per annum
charges).

CIMB-Principal Climate Change Equity Fund minimum fee of RM18,000 per annum
charges).
212
Fees
% / RM % / RM

CIMB-Principal Emerging Asia Fund minimum fee of RM18,000 per annum
charges).

Up to 2.0% is charged on the Net
CIMB-Principal Global Asset Spectra Fund minimum fee of RM18,000 per annum
Asset Value per Unit
charges).

CIMB-Principal Global Balanced Fund minimum fee of RM18,000 per annum
charges).

CIMB-Principal Global Growth Fund minimum fee of RM18,000 per annum
charges).

CIMB-Principal Global Titans Fund minimum fee of RM18,000 per annum
charges).

CIMB-Principal Greater China Equity Fund minimum fee of RM18,000 per annum
charges).

CIMB-Principal Lifecycle Funds minimum fee of RM18,000 per annum
charges).

CIMB-Principal MENA Equity Fund minimum fee of RM18,000 per annum
charges).
A lower fee and/or charges than what is stated in the Deeds may be charged, all current fees and/or charges are disclosed in this
Master Prospectus.
Any increase of the fees and/or charges above that stated in the current Master Prospectus may be made provided that a
supplemental master prospectus is issued and the maximum stated in the Deeds shall not be breached.
Any increase of the fees and/or charges above the maximum stated in the Deeds shall require Unit holders approval.
213
Expenses permitted by the Deeds
The Deeds also provide for payment of other expenses. The major expenses recoverable directly from the Funds include:
commissions/fees paid to brokers/dealers in effecting dealings in the investments of the Funds, shown on the contract notes or
confirmation notes or difference accounts;
(where the custodial function is delegated by the Trustees), charges/fees paid to the sub-custodian;
tax and other duties charged on the Funds by the government and other authorities if any and bank fees;
the fees and other expenses properly incurred by the Auditor;
remuneration and out of pocket expenses of the independent members of the investment committee and/or the members of
the Shariah committee or advisers (if any) of the Funds, unless the Manager decides to bear the same;
fees for valuation of any investment of the Funds by independent valuers for the benefit of the Funds;
costs incurred for the modification of the Deeds otherwise than for the benefit of the Manager or the Trustees;
costs incurred for any meeting of Unit holders other than those convened by, or for the benefit of the Manager or the Trustees;
the sale, purchase, insurance, custody and any other dealings of investments including commissions/fees paid to brokers;
costs involved with external specialists approved by the Trustees in investigating and evaluating any proposed investment;
the engagement of valuers, advisers and contractors of all kinds;
preparation and audit of the taxation returns and accounts of the Funds;
termination of the Funds and the retirement or removal of the Trustees or the Manager and the appointment of a new trustee
or manager;
any proceedings, arbitration or other dispute concerning the Funds or any Asset, including proceedings against the Trustees or
the Manager by the other of them for the benefit of the Funds (except to the extent that legal costs incurred for the defense of
either of them are not ordered by the court to be reimbursed out of the Funds); and
costs of obtaining experts opinion by the Trustees and the Manager for the benefit of the Funds.
The Manager and the Trustees are required to ensure that any fees or charges payable are reasonable and in accordance with the
Deeds which stipulate the maximum rate in percentage terms that can be charged.
Retirement, removal or replacement of the Manager

The Manager must retire as the Manager when required to retire by law.
The Manager may retire upon giving twelve (12) months notice to the Trustees of its desire to do so, or such lesser time as the
Manager and Trustees may agree, in favour of another corporation.
The Manager shall retire under the following circumstances:
if a Special Resolution is duly passed by the Unit holders that the Manager be removed; or
if the Manager ceases to be approved by the SC to be the management company of the Funds.
The Manager may be removed by the Trustees under certain circumstances outlined in the Deeds. These include:
if the Manager shall have gone into liquidation (except a voluntary liquidation for the purpose of reconstruction or
amalgamation upon terms previously approved in writing by the Trustees) or cease to carry on business or if a receiver shall
be appointed of the undertaking or assets of the Manager or if any encumbrances shall take possession of any of its assets; or
if the Manager ceases to carry on business; or
if the Trustees are of the opinion that the Manager has, to the prejudice of the Unit holders, failed to comply with any provision
or covenant under the Deeds or contravened any of the provisions of the CMSA; or
if the Manager has failed or neglected to carry out its duties to the satisfaction of the Trustees and the Trustees consider that it
would be in the interests of the Unit holders for it to do so, after the Trustees have given notice to it of that opinion and the
reasons for that opinion, and has considered any representations made by the Manager in respect of that opinion, and after
consultation with the SC and with the approval of the Unit holders; or
The Manager may be replaced by another corporation appointed as manager by Special Resolution of the Unit holders at a Unit
holders meeting convened in accordance with the Deeds either by the Trustees or the Unit holders.
214
Power of the Manager to remove / replace the Trustees
The Trustees may be removed in the event that:
the Trustees go into liquidation;
the Trustees are placed under receivership, ceases to exist, fails or neglects its duties;
the Trustees cease to be approved by the SC to be a trustee for unit trust schemes; or
if a Special Resolution is duly passed by the Unit holders that the Trustees be removed.
Additionally, the Manager is legislatively empowered under Section 299 of the CMSA to remove the Trustees under specific
circumstances set out therein.
The Trustees may be replaced by another corporation appointed as trustees by a Special Resolution of the Unit holders at a Unit
holders meeting convened in accordance with the Deeds either by the Manager or the Unit holders.
Retirement or removal or replacement of the Trustees

The Manager and the Trustees may agree, and may by the Deeds appoint in its stead a new trustee approved by the SC.
The Trustees must retire as trustees of the Funds when required to retire by law. The Trustees may retire by giving twelve (12)
months notice to the Manager or any shorter notice the Manager accepts.
The Trustees covenant that it will retire from the Fund constituted by or pursuant to the Deeds if and when requested to do so by
the Manager if:
the Trustees shall go into liquidation;
if the Trustees are placed under receivership, ceases to exist, fails or neglects its duties;
the Trustees cease to be approved by the SC to be a trustee for unit trust schemes; or
if a Special Resolution is duly passed by the Unit holders that the Trustees be removed.
Additionally, the Manager is legislatively empowered under Section 299 of the CMSA to remove the Trustees under specific
circumstances set out therein.
The Trustees may be replaced by another corporation appointed as trustee by a Special Resolution of the Unit holders at a Unit
holders meeting convened in accordance with the Deeds either by the Manager or the Unit holders.
Power of the Trustees to remove, retire or replace the Manager

The Manager may be removed by the Trustees on the grounds that are as stated under Retirement, removal or replacement of the
Manager.
In any of above said grounds, the Manager for the time being shall upon receipt of such notice by the Trustees cease to be the
Manager and the Trustees shall by writing under its seal appoint another corporation to be the Manager of the Funds subject to
such corporation entering into a deed(s) with the Trustees and thereafter act as manager during the remaining period of the Funds.
Termination of the Funds

The Funds may be terminated or wound-up upon the occurrence of any of the following events:
(a) the SC's approval is revoked under Section 212(7)(A) of the CMSA;
(b) a Special Resolution is passed at a Unit holders meeting to terminate or wind-up the Funds, following the occurrence of
events stipulated under Section 301(1) of the Act and the court has confirmed the resolution, as required under Section
301(2) of the CMSA;
(c) a Special Resolution is passed at a Unit holders meeting to terminate or wind-up the Funds;
(d) the Fund(s) has reached the Maturity Date; or
(e) the effective date of an approved transfer scheme, as defined under the SC Guidelines, has resulted in the Funds, which
is the subject of the transfer scheme, being left with no asset/property.
Meetings of Unit holders

A Unit holders meeting may be called by the Manager, the Trustees and/or the Unit holders.
Where the Manager or the Trustees convenes a meeting, the notice of the time and place of the meeting and terms of resolution to
be proposed shall be given to the Unit holders in the following manner:
215
(a) by sending by post a notice of the proposed meeting at least fourteen (14) days before the date of the proposed meeting,
to each Unit holder at the Unit holders last known address or, in the case of Joint holders, to the Joint holder whose name
stands first in the records of the Manager at the Joint holder's last known address; and
(b) by publishing, at least fourteen (14) days before the date of the proposed meeting, an advertisement giving notice of the
meeting in a national language newspaper published daily and circulating generally throughout Malaysia, and in one other
newspaper as may be approved by the SC.
The Manager shall within twenty-one (21) days after an application is delivered to the Manager at its registered office, being an
application by not less than fifty (50), or one-tenth (1/10) in number, whichever is less, of the Unit holders to which the Deeds relate,
summon a meeting of the Unit holders:
(i) by sending a notice by post of the proposed meeting at least seven (7) days before the date of the proposed meeting to
each of those Unit holders at his last known address or in the case of joint Unit holder, to the joint Unit holder whose
name stands first in the Manager's records at the joint Unit holders last known address; and
(ii) by publishing at least fourteen (14) days before the date of the proposed meeting, an advertisement giving notice of the
meeting in a national language national daily newspaper and in one other newspaper as may be approved by the SC, for
the purpose of considering the most recent financial statements of the Funds, or for the purpose of requiring the
retirement or removal of the Manager OR the Trustees, or for the purpose of giving to the Trustees such directions as the
meeting thinks proper, or for the purpose of considering any other matter in relation to the Deeds.
The quorum for a meeting of Unit holders of the Fund is five (5) Unit holders of the Fund present in person or by proxy, provided
that for a meeting which requires a Special Resolution the quorum for that meeting shall be five (5) Unit holders, whether present in
person or by proxy, holding in aggregate at least twenty five (25%) of the Units in issue for the Fund at the time of the meeting. If
the Fund has five (5) or less Unit holders, the quorum required shall be two (2) Unit holders, whether present or by proxy and if the
meeting requires a Special Resolution the quorum for that meeting shall be two (2) Unit holders, whether present in person or by
proxy, holding in aggregate at least twenty five (25%) of the Units in issue for the Fund at the time of the meeting.
Voting is by a show of hands, unless a poll is duly demanded or the resolution proposed is required by the Deeds or by law to be
decided by a percentage of all Units. Each Unit holder present in person or by proxy has one vote on a show of hands. On a poll,
each Unit holder present in person or by proxy has one vote for each whole fully paid Unit held. In the case of joint Unit holders,
only the person whose name appears first in the register may vote. Units held by the Manager or its nominees shall have no voting
rights in any Unit holders meeting of the Fund. In respect of the termination or winding-up of the Fund, voting shall only be carried
out by poll.
216
Approvals and Conditions
Variations to the SC Guidelines
We have obtained variations to the SC Guidelines for the following Funds:
CIMB-Principal has obtained approval from the SC for a variation of Clause 11.18 of the SC Guidelines, which allows the
management company to issue statements every quarter and not every time a distribution is made which could be monthly or such
period as decided by the Manager.
CIMB-Principal has obtained approval from the SC for a variation of Clause (5) of Schedule A of the SC Guidelines, which allows
the Fund to invest up to 30% of its net asset value in single issuer securities with ratings of AAA or P1.
CIMB-Principal has obtained approval from the SC for a variation of Clause (5) of Schedule A of the SC Guidelines which allows
ASEF to invest up to 30% of its NAV into ETFs with similar objective.
CIMB-Principal has obtained the approval from the SC for a variation to Clause 10 of Schedule A of the SC Guidelines which allows
the Fund to invest more than 20% (between 50% to 98%) of the Funds NAV in other collective investment schemes.
CIMB-Principal has also obtained the approval from the SC for a variation to Clause 9 of Schedule A of the SC Guidelines which
allow the Fund to invest more than 25% of the Funds NAV in securities/instruments of any single issuer.
217
Related-Party Transactions /
Conflict of Interest
Potential conflicts of interests and related party transactions
The Manager, its directors and any of its delegates including the Investment Committee members will at all times act in the best
interests of the Unit holders of the Funds and will not conduct itself in any manner that will result in a conflict of interest or potential
conflict of interest. In the unlikely event that any conflict of interest arises, such conflict shall be resolved such that the Funds are
not disadvantaged. In the unlikely event that CIMB-Principal faces conflicts in respect of its duties to the Funds and its duties to
other CIMB-Principal investment funds that it manages, CIMB-Principal is obliged to act in the best interests of all its investors and
will seek to resolve any conflicts fairly and in accordance with the Deeds.
The Manager shall not act as principals in the sale and purchase of any securities or investments to and from the Funds. The
Manager shall not make any investment for the Funds in any securities, properties or assets in which the Manager or its officer has
financial interest in or from which the Manager or its officer derives a benefit, unless with the prior approval of the Trustees.
The Funds may maintain deposits with CIMB Bank Berhad, CIMB Islamic Bank Berhad and CIMB Investment Bank Berhad. CIMB-
Principal may enter into transactions with other companies within the CIMB Group and the Principal Financial Group provided that
the transactions are effected at market prices and are conducted at arms lengths.
As the Trustees and service providers for all the Funds, there may be related party transactions involving or in connection with the
Funds in the following events:
1) where a Fund invests in instrument(s) offered by the related party of the Trustees (e.g. placement of monies, structured
products, etc);
2) where a Fund is being distributed by the related party of the Trustees as IUTA;
3) where the assets of a Fund are being custodised by the related party of the Trustees both as sub-custodian and/or global
custodian of that Fund (Trustees delegate); and
4) where a Fund obtains financing as permitted under the SC Guidelines, from the related party of the Trustees.
The Trustees have in place policies and procedures to deal with any conflict of interest situation. The Trustees will not make
improper use of its position as the owner of a Fund's assets to gain, directly or indirectly, any advantage or cause detriment to the
interests of Unit holders. Any related party transaction is to be made on terms which are best available to the Fund and which are
not less favourable to the Fund than an arms-length transaction between independent parties.
Subject to any local regulations, the Trustees and/or their related group of companies may deal with each other, the Funds or any
Unit Holder or enter into any contract or transaction with each other, the Funds or any from any such contract or transaction or act
in the same and similar capacity in relation to any other scheme.
Interests in the Fund

Subject to any legal requirement, CIMB-Principal, the Trustees, or any related corporation of the Trustees or the Manager, or any
officers or directors of any of them, may invest in the Funds. The directors of CIMB-Principal and of the Trustees will receive no
payments from the Funds other than distributions that they may receive as a result of investment in the Funds. No fees other than
the ones set out in this Master Prospectus have been paid to any promoter of the Funds, or the Trustees (either to become a
Trustee or for other services in connection with the Funds), or CIMB-Principal for any purpose.
Employees securities dealings

CIMB-Principal has in place a policy contained in its Rules of Business Conduct, which regulates its employees securities dealings.
An annual declaration of securities trading is required of all employees to ensure that there is no potential conflict of interest
between the employees securities trading and the execution of the employees duties to the company and customers of the
company.
218
Taxation Report
TAXATION ADVISERS LETTER
ON TAXATION OF THE TRUSTS AND UNITHOLDERS
(Prepared for inclusion in this Master Prospectus)
PricewaterhouseCoopers Taxation Services Sdn Bhd

Level 10, 1 Sentral, Jalan Travers
Kuala Lumpur Sentral
P.O.Box 10192
50706 Kuala Lumpur
The Board of Directors

CIMB-Principal Asset Management Berhad
Level 5, Menara Millenium
8, Jalan Damanlela
Bukit Damansara
50490 Kuala Lumpur
7 June 2010
TAXATION OF THE TRUSTS OFFERED UNDER THE MASTER PROSPECTUS AND UNITHOLDERS
Dear Sirs,
This letter has been prepared for inclusion in the Master Prospectus in connection with the offer of units in the trusts listed in the
Appendix (the Trusts).
The taxation of income for both the Trusts and the Unitholders are subject to the provisions of the Malaysian Income Tax Act 1967
(the Act). The applicable provisions are contained in Section 61 of the Act, which deals specifically with the taxation of Trust
bodies in Malaysia.
TAXATION OF THE TRUSTS
The Trusts will be regarded as resident for Malaysian tax purposes since the Trustees of the Trusts are resident in Malaysia.
(1) Foreign Investments
Income of the Trusts in respect of overseas investment is exempt from Malaysian tax by virtue of Paragraph 28 of Schedule 6 of
the Act and distributions from such income will be tax exempt in the hands of the Unitholders. Such income from foreign
investments may be subject to taxes or withholding taxes in the specific foreign country. However, any foreign tax suffered on the
income in respect of overseas investment is not tax refundable to the Trusts in Malaysia.
The foreign income exempted from Malaysian tax at the Trusts level will also be exempted from tax upon distribution to the
Unitholders.
(2) Domestic Investments
(i) General taxation
The income of the Trusts consisting of dividends, interest (other than interest which is exempt from tax) and other investment
income derived from or accruing in Malaysia, after deducting tax allowable expenses, is liable to Malaysian income tax at the rate of
25 per cent.
Gains on disposal of investments by the Trusts will not be subject to income tax.
(ii) Tax Credit
With effect from 1 January 2008, Malaysia introduced the single-tier system where dividends paid by companies would not be
taxable. However, during the transitional period from 1 January 2008 to 31 December 2013, companies may still continue to be
under the imputation system where dividends paid are taxed at source and tax credits available to recipients.
219
Dividends received from companies that are under the single-tier system would be exempted from tax and the expenses incurred
on such dividends would be disregarded. There will no longer be any tax refunds available for single-tier dividends received.
Dividends received by the Trusts would have suffered tax deduction at source at 25 per cent, unless specific exemptions apply e.g.
pioneer dividends. No further tax will be payable by the Trusts on the dividends. However, such tax or part thereof will be
refundable to the Trusts if the total tax so deducted at source exceeds the tax liability of the Trusts.
(iii) Exempt Income
The Trusts may receive Malaysian dividends which are tax exempt. The exempt dividends may be received from investments in
companies which had previously enjoyed or are currently enjoying the various tax incentives provided under the law. The Trusts will
not be taxable on such exempt income.
With effect from 1 January 2008, dividends received from companies under the single-tier system would also be exempted.
Interest income or discount income derived from the following investments are exempt from tax:
(a) Securities or bonds issued or guaranteed by the Government;

(b) Debentures and Islamic Securities, other than convertible loan stocks approved by the Securities Commission (SC); and
(c) Bon Simpanan Malaysia issued by Bank Negara Malaysia.
As such, provided the investment in structured products is seen to be debentures under Capital Markets and Services Act 2007,
the income received will be exempted. Otherwise, tax implications could arise.
Interest income derived from the following investments are exempt from tax:
(a) Interest paid or credited by any bank or financial institution licensed under the Banking and Financial Institutions Act 1989
or the Islamic Banking Act 1983; and
(b) Bonds, other than convertible loan stocks, paid or credited by any company listed in Malaysia Exchange of Securities
Dealing and Automated Quotation Berhad (MESDAQ).
The income exempted from tax at the Trusts level will also be exempted from tax upon distribution to the Unitholders.
(3) Hedging Instruments
The tax treatment of hedging instruments would depend on the particular hedging instruments entered into.
Generally, any gain / loss relating to the principal portion will be treated as capital gain / loss. Gains / losses relating to the income
portion would normally be treated as revenue gains / losses. The gain / loss on revaluation will only be taxed or claimed upon
realisation. Any gain / loss on foreign exchange is treated as capital gain / loss if it arises from the revaluation of the principal
portion of the investment.
(4) Income from Malaysia Real Estate Investment Trusts (REITs)
Income from distribution from REITs will be received net of final withholding tax of 101 per cent. No further tax will be payable by the
Trusts on the distribution. Distribution from such income by the Trusts will also not be subject to further tax in the hands of the unit
holders.
_______________________________________________
1
The reduced withholding tax rate of 10% is up to 31 December 2011.
(5) Securities Borrowing and Lending Transaction (SBL)
Pursuant to Income Tax (Exemption) (No. 30) Order 1995 - Revised 2008, the authorised borrower or lender in a SBL approved by
SC will qualify for tax exemption on any income (other than dividends, manufactured payments, lending fees and interest earned on
collateral) arising from loan of securities listed under Bursa Malaysia Berhad (Bursa). The same exemption also applies on the
return of the same or equivalent securities and the corresponding exchange of collateral.
Lending fees are taxable when received by the lender. Withholding tax of 10 per cent is also applicable if the borrower pays lending
fees to a non-resident lender.
Interest earned on collateral is not exempted from income tax / withholding tax. Interest or profit paid by Bursa Malaysia Securities
Clearing Sdn Bhd on cash collateral will be exempted from tax when received by non-resident Borrowers and individual Borrowers
who are residents.
Pursuant to Stamp Duty (Exemption) (No. 28) Order 1995 and Stamp Duty (Exemption) (No.12) Order 2000, the instrument of
transfer of securities listed on Bursa and MESDAQ executed in favour of a borrower or lender and an instrument of transfer of
collateral are exempted from stamp duty.
220
(6) Tax Deductible Expenses
Expenses wholly and exclusively incurred in the production of gross income are allowable as deductions under Section 33(1) of the
Act. In addition, Section 63B of the Act provides for tax deduction in respect of managers remuneration, expenses on maintenance
of the register of
Unitholders, share registration expenses, secretarial, audit and accounting fees, telephone charges, printing and stationery costs
and postages. The deduction is based on a formula subject to a minimum of 10 per cent and a maximum of 25 per cent of the
expenses.
(7) Real Property Gains Tax (RPGT)
With effect from 1 January 2010, Real Property Gains Tax of 5 per cent will be applicable on gains on disposal of investments
representing shares in real property companies2 where the disposal is within 5 years of ownership.
_______________________________________________
2
A real property company is a controlled company which owns or acquires real property or shares in real property companies
with a market value of not less than 75 per cent of its total tangible assets. A controlled company is a company which does not
have more than 50 members and is controlled by not more than 5 persons.
TAXATION OF UNITHOLDERS
Unitholders will be taxed on an amount equivalent to their share of the total taxable income of the Trusts to the extent of the
distributions received from the Trusts. The income distribution from the Trusts will carry a tax credit in respect of the Malaysian tax
paid by the Trusts. Unitholders will be entitled to utilise the tax credit against the tax payable on the income distribution received by
them. No additional withholding tax will be imposed on the income distribution from the Trusts.
Non-resident Unitholders may also be subject to tax in their respective jurisdictions. Depending on the provisions of the relevant
countrys tax legislation and any double tax treaty with Malaysia, the Malaysian tax suffered may be creditable against the relevant
foreign tax.
Corporate Unitholders, resident3 and non-resident, will generally be liable to income tax at 25 per cent on distribution of income
received from the Trusts. The tax credits attributable to the distribution of income can be utilised against the tax liabilities of these
Unitholders.
Individuals and other non-corporate Unitholders who are tax resident in Malaysia will be subject to income tax at graduated rates
ranging from 1 per cent to 26 per cent. Individuals and other non-corporate Unitholders who are not resident in Malaysia will be
subject to income tax at 26 per cent. The tax credits attributable to the distribution of income can be utilised against the tax liabilities
of these Unitholders.
The distribution of exempt income and gains arising from the disposal of investments by the Trusts will be exempted from tax in the
hands of the Unitholders.
Any gains realised by Unitholders (other than dealers in securities, insurance companies or financial institutions) on the sale or
redemption of the units are treated as capital gains and will not be subject to income tax. This tax treatment will include gains in the
form of cash or residual distribution in the event of the winding up of the Trusts.
_______________________________________________
3
Resident companies with paid up capital in respect of ordinary shares of RM2.5 million and below will pay tax at 20 per cent for
the first RM500,000 of chargeable income with the balance taxed at 25 per cent.
With effect from year of assessment 2009, the above shall not apply if more than -
(a) 50 per cent of the paid up capital in respect of ordinary shares of the company is directly or indirectly owned by a related
company;
(b) 50 per cent of the paid up capital in respect of ordinary shares of the related company is directly or indirectly owned by the
first mentioned company;
(c) 50 per cent of the paid up capital in respect of ordinary shares of the first mentioned company and the related company is
directly or indirectly owned by another company.
Related company means a company which has a paid up capital in respect of ordinary shares of more than RM2.5 million at
the beginning of the basis period for a year of assessment.
221
Unitholders electing to receive their income distribution by way of investment in the form of new units will be regarded as having
purchased the new units out of their income distribution after tax.
Unit splits issued by the Trusts are not taxable in the hands of Unitholders.
We hereby confirm that the statements made in this report correctly reflect our understanding of the tax position under current
Malaysian tax legislation. Our comments above are general in nature and covers taxation in the context of Malaysian tax legislation
only and does not cover foreign tax legislation. The comments do not represent specific tax advice to any investors and we
recommend that investors obtain independent advice on the tax issues associated with their investments in the Trusts.
Yours faithfully,
for and on behalf of
PRICEWATERHOUSECOOPERS TAXATION SERVICES SDN BHD
Jennifer Chang
Senior Executive Director
PricewaterhouseCoopers Taxation Services Sdn Bhd have given their written consent to the inclusion of their report as Taxation
Adviser in the form and context in which it appears in this Prospectus and have not withdrawn such consent prior to the delivery of
a copy of this Prospectus for approval.
222
APPENDIX
The Trusts consist of the following 29 Funds:
1. CIMB-Principal Equity Fund

2. CIMB-Principal Equity Fund 2
3. CIMB-Principal Equity Aggressive Fund 1
4. CIMB-Principal Equity Aggressive Fund 3
5. CIMB-Principal Equity Growth Fund
6. CIMB-Principal Equity Growth & Income Fund
7. CIMB-Principal Equity Income Fund
8. CIMB-Principal Small Cap Fund
9. CIMB-Principal Balanced Fund
10. CIMB-Principal Balanced Income Fund
11. CIMB-Principal Income Plus Balanced Fund
12. CIMB-Principal Bond Fund
13. CIMB-Principal Strategic Bond Fund
14. CIMB-Principal Deposit Fund
15. CIMB-Principal Money Market Income Fund
16. CIMB-Principal Asia Infrastructure Equity Fund
17. CIMB-Principal ASEAN Equity Fund
18. CIMB-Principal Asian Equity Fund
19. CIMB-Principal Climate Change Equity Fund
20. CIMB-Principal Emerging Asia Fund
21. CIMB-Principal Global Asset Spectra Fund
22. CIMB-Principal Global Balanced Fund
23. CIMB-Principal Global Growth Fund
24. CIMB-Principal Global Titans Fund
25. CIMB-Principal Greater China Equity Fund
26. CIMB-Principal Lifecycle Fund 2017
29. CIMB-Principal MENA Equity Fund
223
Additional Information
Investor services
Note: These services are only available to investors of selected Approved Distributors.
How will I be informed about my investment?
We will send you a written confirmation of:

Your CIMB-Principal investor number;
All your transactions and distributions (if any);
Any changes to your personal details (e.g. your address, telephone number or bank account information);
The details of your investment each January; and
The financial accounts of the Fund for each half-year within two (2) months from the end of the half-year or financial year, as
the case may be.
In the case of joint Unit holders, all correspondences and payments will be made and sent to the first registered Unit holder.
How can I obtain information about the performance of the Fund?
You can obtain up-to-date fund information from our monthly fund fact sheets, our quarterly investor magazine CIMB-Principal
Investors Circle and our website, http://www.cimb-principal.com.my
Who do I contact if I need information about my investment?
You can contact our Customer Care Centre at (03) 7718 3100. Our Customer Care Centre is available Mondays to Fridays
(except on Selangor public holidays), from 8:30 a.m. to 5:30 p.m. (Kuala Lumpur time) or you can email us at cimb-
p.custsupport@cimb.com
If you wish to write-in, please address your letter to:
CIMB-Principal Asset Management Berhad

Customer Care Centre
50, 52 & 54 Jalan SS 21/39
Damansara Utama
47400 Petaling Jaya
Selangor Darul Ehsan MALAYSIA
Anti-money laundering policies and procedures
In order to comply with the Anti-Money Laundering and Counter Financing of Terrorism Act 2001 (AMLA) and the relevant policies,
procedures, guidelines and/or regulations aimed at the prevention of money laundering, the Manager will be required to obtain
satisfactory evidence of customers identity and have effective procedures for verifying the bona fides of customers.
The Manager conducts ongoing due diligence and scrutiny of customers identity and his/her investment objectives which may be
undertaken throughout the course of the business relationship to ensure that the transactions being conducted are consistent with
the Managers knowledge of the customer, its business and its risk profile.
It may not have direct contact with such customers and depending on the circumstances of each application, a detailed verification
of identity might not be required where:
(i) the applicant makes the payment for his investment from an account held in the applicant's name at a recognised financial
institution;
(ii) the applicant is regulated by a recognised regulatory authority and is based or incorporated in, or formed under the law of, a
recognised jurisdiction; or
(iii) the application is made through an intermediary which is regulated/licensed by a recognised regulatory authority and is based
in or incorporated in, or formed under the law of a recognised jurisdiction.
The Manager also reserves the right to request such information as is necessary to verify the source of the payment. The Manager
may refuse to accept the application and the subscription monies if an applicant of Units delays in producing or fails to produce any
information required for the purposes of verification of identity or source of funds, and in that event the Manager shall return the
application monies (without interest and at the expense of the applicant) by telegraphic transfer to the account from which the
monies were originally sent/or by way of a cheque to the applicants last known address on the records of the Manager.
A transaction or a series of transaction shall be considered as suspicious if the transaction in question is inconsistent with the
customers known transaction profile or does not make economic sense. Suspicious transactions shall be submitted directly to the
Financial Intelligence Unit of Bank Negara Malaysia.
Distribution channels where units can be purchased or redeemed

The Funds are distributed via the following channels:
224
CIMB Wealth Advisors, an IUTA of the Manager
Other Institutional Unit Trust Advisers (IUTAs)
The addresses and contact numbers of the head office and regional offices of CIMB-Principal are disclosed in the Corporate
Directory. The Approved Distributors of the Fund are listed in the Distributors of the Funds chapter.
225
Consent
PricewaterhouseCoopers Taxation Services Sdn Bhd, AmanahRaya Trustees Berhad, Mayban Trustees Berhad, PB Trustee
Services Berhad, HSBC (Malaysia) Trustee Berhad, Deutsche Trustees Malaysia Berhad, AmTrustee Berhad, Universal Trustee
(Malaysia) Berhad, Company Secretary and Mercer Zainal Consulting Sdn Bhd have given their written consent to act in their
respective capacity and have not subsequently withdrawn their consent to the inclusion of their names and/or letter/report in the
form and context in which it appears in this Master Prospectus.
226
Documents Available for Inspection
For a period of not less than twelve (12) months from the date of this Master Prospectus, Unit holders may inspect the following
documents or copies thereof in relation to the Funds at the registered office of the Manager and/or the Trustees (where applicable)
without charge:
The Deeds of the Funds;
Material contracts or documents referred to in this Master Prospectus;
The Schroder International Selection Fund Prospectus dated February 2010;
The DWS Invest Sales Prospectus dated 1 September 2009;
The Ocean Fund Prospectus dated November 2009;
The Invesco Funds Prospectus dated March 2010;
The latest annual and interim reports of the Funds;
All reports, letters or other documents, valuations and statements by any expert, any part of which is extracted or referred to in
this Master Prospectus;
The audited accounts of the Manager and the Funds (where applicable) for the last three (3) financial years;
Writ and relevant cause papers for all current material litigation and arbitration disclosed in this Master Prospectus; and
Any consent given by experts or persons whose statement appears in this Master Prospectus.
227
Distributors of the Funds
The CIMB-Principal Funds are available from (but not limited to) the following distributors and their branches:
CIMB Wealth Advisors Berhad (209627-H) CIMB Bank Berhad (13491-P)

Head Office 6, Jalan Tun Perak
50, 52 & 54, Jalan SS21/39 50050 Kuala Lumpur
Damansara Utama 1 300 880 900
47400 Petaling Jaya
Selangor (Distributor for AIEF, ASEF, BF, BIF, BOF, CCEF, DF, EAF,
(03) 7718 3000 EAF1, EAF3, EF, EF2, EGIF, EIF, GASF, GBF, GGF, GTF,
GCEF, IPBF, CMEF, MMIF, SCF & SBF)
(Distributor for all Funds)
CIMB Investment Bank Berhad Retail Equities (163712-V) CIMB Private Banking (18417-M)
(A Participating Organisation of Bursa Malaysia Securities Lot 7-01 Level 7
Berhad) Tower Block Menara Milenium
10th Floor, Bangunan CIMB, Jalan Semantan 8, Jalan Damanlela
Damansara Heights Bukit Damansara
50490 Kuala Lumpur 50490 Kuala Lumpur
(03) 2084 9525 (03) 2723 8688
(Distributor forAIEF, BF, BOF, CCEF, EAF, EAF3, GASF, GTF, (Distributor for AIEF, ASEF, BF, BIF, BOF, DF, IPBF, CMEF,
GCEF, IPBF, CMEF, MMIF, SCF & SBF) EAF1, EAF3, EF, EF2, EGIF, EGF, GTF, GCEF, MMIF, SCF &
SBF)
Affin Bank Berhad (25046-T) HSBC Bank Malaysia Berhad (127776-V)

Menara Affin Head Office
80, Jalan Raja Chulan Personal Financial Services
50200 Kuala Lumpur 2, Leboh Ampang
(03) 2055 9733 / 9936 50100 Kuala Lumpur
(03) 2050 7878
(Distributor for BF, BIF, BOF, GTF, DF, EAF, EAF3, EF, EF2,
EGIF, EGF, GBF, GTF, IPBF & SCF) (Distributor for BF, BOF, CCEF, EAF3, GTF, IPBF and CMEF)
AmInvestment Bank Berhad (23742-V) Hong Leong Bank Berhad (97141-X)

18th Floor, Bangunan AmBank Group Level 3A, Wisma Hong Leong
55, Jalan Raja Chulan 18, Jalan Tun Perak
(03) 2036 1300 (03) 2164 2828
(Distributor for EF, EF2, EGIF, EIF, SCF, BIF, BOF, DF, EAF, (Distributor for BF, EAF, BOF, EAF3, GTF, GCEF, IPBF,
GBF and GTF) CMEF, MMIF, SCF & SBF)
United Overseas Bank (Malaysia) Bhd (271809-K) ECM Libra Investment Bank Berhad (682-X)
Level 2, Menara UOB 3rd Floor, Wisma Genting,
Jalan Raja Laut Jalan Sultan Ismail
(03) 2732 4332 (03) 2178 1888
(Distributor for LTT, BF, BOF, CCEF, EAF, EAF1, EAF3, EF, (Distributor for AIEF, ASEF, BF, BIF, BOF, CCEF, DF, EAF,
EGIF, EIF, GBF, GTF, IPBF, CMEF, MMIF, SCF & SBF) EAF1, EAF2, EF, EF2, EGIF, EIF, GASF, GBF, GGF, GTF,
GCEF, IPBF, CMEF, MMIF, SCF & SBF)
Citibank Berhad (297089 M) Kenanga Unit Trust Berhad (451957-D)

Head Office Level 8, Kenanga International
Citibank Investment Services Jalan Sultan Ismail
89, Jalan Ampang 50250 Kuala Lumpur
PO Box 11725 (03) 2164 9080
50754 Kuala Lumpur
(03) 2383 8833 (Distributor for BF, MMIF, BOF, EAF, EAF3, IPBF, SCF & GTF)
(Distributor for AEIF, BOF, BF, EAF1, EAF3, EF, EIF, GBF,
GASF, GTF, GCEF, GTF, IPBF, CMEF, SCF & SBF)
228
Phillip Mutual Berhad (570409-K) Standard Chartered Bank Malaysia Berhad (115793-P)
B-2-7, Megan Avenue II Menara Standard Chartered
Jalan Yap Kwan Seng Level 8, 30 Jalan Sultan Ismail
(03) 2783 0300 (03) 7718 9688
(Distributor for AIEF, BOF, CCEF, EAF, EAF3, GASF, GTF, (Distributor for AIEF, BF, BIF, BOF, EAF, EAF3, EF, GTF,
GCEF, CMEF, SCF & SBF) GCEF & IPBF)
RHB Bank Berhad (6171-M) OCBC Bank (Malaysia) Berhad (295400-W)

Investment Services Department Head Office
Level 9, Tower 2, RHB Centre Menara OCBC
Jalan Tun Razak Level 16,
50400 Kuala Lumpur 18, Jalan Tun Perak
(03) 9206 8118 50500 Kuala Lumpur
(03) 2034 5034
(Distributor for BF, BIF, BOF, DF, EAF, EAF1, EAF3, EF, EGIF,
EIF, GBF, GTF, IPBF, MMIF, SCF & SBF) (Distributor for BF, BOF, CCEF, EAF3, EF, GBF, GTF, IPBF,
CMEF AND SCF)
RHB Investment Management Sdn Bhd (174588-X) EON Bank Berhad (92351-V)
(formerly known as RHB Asset Management Sdn Bhd) 12th Floor, Menara EON Bank
Level 10, Tower One 288, Jalan Raja Laut
RHB Centre 50350 Kuala Lumpur
Jalan Tun Razak (03) 2612 8888
50400 Kuala Lumpur
(03) 9280 2131 (Distributor for EF, EAF1, EGIF, EIF, BIF and GBF)
(Distributor for BF, BOF, EAF, EAF3, IPBF, MMIF & SCF)
The Royal Bank of Scotland Berhad (301932-A)

Level 1, Menara Maxis
Kuala Lumpur City Centre
50088 Kuala Lumpur
(03) 2160 9419
(Distributor for AIEF, BOF, CCEF, EAF, EAF3, GASF, GTF,

GCEF, CMEF, SCF & SBF)
229
Appendix I ETF Risks
Principal Risks
Market Risk
The net asset value will change with changes in the market value of the securities it holds. The price of units and the income from
them may go down as well as up. Investors may not get back their original investment. Investment in the ETF involves risks similar
to those of inherent in any fund of equity securities traded on an exchange, such as market fluctuations caused by factors like
economic and political developments, changes in interest rates and foreign exchange. A significant decline in the value of the Index
can therefore be expected to result in a similar decline in the net asset value of the units.
Passive Investment
The ETF is not actively managed. Accordingly, the fund may be affected by a decline in world market segments relating to the
index.
Tracking Error Risk

Factors such as the fees and expenses of the ETF, imperfect correlation between the fund's assets and the index securities
constituting the index, rounding of share prices, changes to the index and regulatory policies may affect the manager's ability to
achieve close correlation with the performance of the index. The fund's returns may therefore deviate from the index.
Concentration
If the index comprises index securities that are concentrated in a particular group of stocks, industry or group of industries, the ETF
may be adversely affected by the performance of those stocks and be subject to price volatility. In addition, if the fund is
concentrated in a single stock, group of stocks, industry or group of industries, it may be more susceptible to any single economic,
market, political or regulatory occurrence.
Foreign Security Risk

An investment in units of the ETF involves risks similar to those of investing in a broad-based portfolio of equity securities traded on
exchanges in the relevant overseas securities market, including market fluctuations caused by factors such as economic and
political developments, changes in interest rates and perceived trends in stock prices. The principal risk factors, which could
decrease the value of your investment, are listed and described below:
less liquid and less efficient securities markets;

greater price volatility;
exchange rate fluctuations and exchange controls;
less publicly available information about issuers;
the imposition of restrictions on the expatriation of funds or other assets of the ETF;
higher transaction and custody costs and delays and risks of loss attendant in settlement procedures;
difficulties in enforcing contractual obligations;
lesser levels of regulation of the securities markets;
different accounting, disclosure and reporting requirements;
more substantial government involvement in the economy;
higher rates of inflation; and
greater social, economic, and political uncertainty and the risk of nationalization or expropriation of assets and risk of war or
terrorism.
Foreign Exchange Risk

As the ETFs investments are generally invested in other markets, such that a substantial portion of the revenue and income of the
fund may be received in a currency other than the funds base currency, any fluctuation in the exchange rate of the US Dollar
relative to the relevant foreign currency will affect the net asset value of the ETF.
Trading Risk
The ETF is structured as an index fund and the net asset value of units of an index fund will fluctuate with changes in the market
value of the index fund's holdings of securities and changes in the exchange rate between the US Dollar and the subject foreign
currency. The market prices of units will fluctuate in accordance with changes in net asset value and supply and demand on any
exchange on which units are listed. The manager cannot predict whether units will trade below, at or above their net asset value.
Price differences may be due, in large part, to the fact that supply and demand forces in the secondary trading market for units will
be closely related, but not identical, to the same forces influencing the prices of the securities trading individually or in the
aggregate at any point in time.
Absence of prior active market

Although application has been made for the units to be listed for trading on the stock exchange, there can be no assurance that an
active trading market will be developed or be maintained. There is no certain basis for predicting the actual price levels at, or sizes
in, which units may trade. Further, there can be no assurance that investors in the units will experience trading or pricing patterns
similar to those of market-traded shares which are issued by investment companies in other jurisdictions or which are based upon
indices other than the index.
Dealing Risk
Following listing on the stock exchange, it is likely that the units will initially not be widely held. Accordingly any investor buying units
in small numbers may not necessarily be able to find other buyers should that investor wish to sell. In order to address such dealing
risk, a market maker has been appointed for trading of the units.
230
Creation and Redemption through participating dealers only
Investors may generally not create or redeem units and in any event can only create or redeem Units through participating dealers
who are under no obligation to agree to do so on behalf of any investor. Each participating dealers may, in its absolute discretion,
refuse to accept a creation order from an investor and can charge such fees as it may determine. If an investor has been allowed to
create units through participating dealers, such investor may only request a redemption of the units through the same participating
dealers and the relevant participating dealers may, in its absolute discretion, refuse to accept a redemption request from an
investor. The willingness of participating dealers to redeem units may depend upon, but is not limited to, that participating dealers
ability to sell the relevant index securities as well as any agreement which may be reached between the investor and the
participating dealers. In addition, participating dealers will not be able to create or redeem units if some other event occurs which
impedes the calculation of the net asset value of the fund or disposal of the ETFs portfolio securities cannot be effected.
Risk of investment diminution

The value of the securities which the ETF invest may go down as well as go up. Stock values could decline generally or could
underperform other types of investments. Investors may not get back their original investment.
Risk inherent in index securities

As the ETF invests in index securities, the price of units may fluctuate in response to changes in interest rates, foreign exchange,
economic and political conditions and the financial condition of issuers of the index securities.
Lack of discretion by manager to adapt to market changes

The index securities held by the fund will passively reflect the distribution of companies whose securities are included in the index.
Therefore, adverse changes in the financial condition or share performance of any company included in the index will not result in
the sale of the shares of such company, and will be likely to affect adversely the ETFs value and the trading price of the units. The
manager will have limited discretion to remove the securities of such company from the fund.
Units may trade at prices other than at net asset value

The net asset value of the fund represents the fair price for buying or selling units. As with any listed fund, the secondary market
price of units may sometimes trade above or below net asset value. There is a risk, therefore, that Unit holders may not be able to
buy or sell at a price close to this net asset value. The deviation from net asset value is dependent on a number of factors, but will
be accentuated when there is a large imbalance between market supply and demand for units. However, given that the units can
be created and redeemed in creation and redemption unit sizes by participating dealers, as applicable, it is not anticipated that
large discounts or premiums will be sustained.
Trading in units on the stock exchange may be suspended

Investors will not be able to purchase or sell units on the stock exchange during any period that the stock exchange suspends
trading in the units. The stock exchange may suspend the trading of units whenever the stock exchange determines that it is
appropriate in the interests of a fair and orderly market to protect investors. The creation and redemption of units will also be
suspended in the event that the trading of units on the stock exchange is suspended. The stock exchange imposes certain
requirements for the continued listing of securities, including the units, on the stock exchange. Investors cannot be assured that the
ETF will continue to meet the requirements necessary to maintain the listing of units on the stock exchange or that the stock
exchange will not change the listing requirements. The ETF may be terminated if units are delisted from the stock exchange.
The ETF is different from a typical unit trust

Investors should note that the ETF is not like a typical unit trust offered to the public in Malaysia. Units may only be created and
redeemed in application unit sizes by participating dealers and units may not be subscribed for, or redeemed, directly by investors.
Participating dealers will not be able to create or redeem units during any period when, amongst other things, dealings on the stock
exchange is restricted or suspended, settlement or clearing of securities is disrupted or the index is not compiled or published.
Investors may generally only realise the value of their units by selling their units on the stock exchange. These features are not
usually present in a typical unit trust offered to the public in Malaysia, where units can generally be purchased and redeemed
directly by the public.
Minimum creation and redemption size

Units will normally only be issued or redeemed in creation unit or redemption unit size. Investors who do not hold redemption unit
size aggregates may only be able to realise the value of their units by selling their units on the stock exchange.
Investing in derivatives
As the ETF may invest in derivatives, it may be subject to risks associated with such investments. Investments in derivatives may
require the deposit of initial margin and additional deposit of margin on short notice if the market moves against the investment
positions. If no provision is made for the required margin within the prescribed time, the fund's investments may be liquidated at a
loss. Therefore, it is essential that such investments in derivatives be monitored closely. The manager has the necessary controls
for investment in derivatives and has in place systems to monitor any derivative positions for the fund.
Use of futures and options contracts involve certain risks

The manager may use futures and options contracts for the purpose of hedging and achieving the ETF's investment objective. The
manager may invest the fund's assets in futures and options contracts in order to try to minimise tracking error between the index
and the value of the fund. There is no guarantee that such techniques will achieve their desired result. There are certain investment
risks in using futures and options contracts. Such risks may include: (i) the inability to close out a futures and options contracts
caused by the non-existence of a liquid secondary market; and (ii) an imperfect correlation between price movements of the futures
and options contracts with price movements of the index securities. Further, the risk of loss in trading futures and options contracts
is potentially great, due to both the low margin deposits required, and the extremely high degree of leverage involved in futures
pricing. As a result, a relatively small price movement in a futures and options contract may result in immediate and substantial loss
(or gain) to the fund.
231
Minimum Fund Size
The ETF is structured as an index fund with a low total expense ratio. As with any fund, in order to remain viable, the size of the
fund must be sufficient to cover at least its fixed operating costs; given the relatively low fees charged to and payable by the fund,
this means, that the minimum size of the fund needs to be significantly larger than other typical unit trust.
Registration or cross-listing of Fund in other markets

There is a likelihood that the fund may in the future be registered on other markets, or cross-listed on other exchanges, or
otherwise offered in other jurisdictions. As this is expected to improve the liquidity for existing Unit holders and result in more
efficient secondary market pricing due to increased scope for arbitrage, the manager may be permitted by the trustee to charge the
related costs to the fund.
Risk Factors Relating to the Index

Errors or inaccuracies in the index
There may be inaccuracies, errors, omissions or mistakes in the compilation or calculation of the index, which may result in
significant deviations between the net asset value of the units and the index. The manager and the trustee are not responsible or
involved in the compilation or calculation of the index, and thus cannot be held responsible or liable for any inaccuracies, errors,
omissions or mistakes in such compilation or calculation.
Index is subject to fluctuations

The performance of the units should correspond closely with the performance of the index. The index may experience periods of
volatility in the future. If the index experiences volatility or declines, the price of the units will vary or decline accordingly.
Composition of and weightings in the index may change

The securities which comprise the index are changed from time to time. The price of the units may rise or fall as a result of such
changes. The composition of the index may also change if one of the constituent companies were to delist its securities or if a new
eligible company were to list its securities and be added to the index. If this happens, the weighting or composition of the index
securities invested by the fund would be changed as considered appropriate by the manager in order to achieve the investment
objective. Thus, an investment in units will generally reflect the index as its constituents change from time to time, and not
necessarily the way it is comprised at the time of an investment in the units.
License to use the index may be terminated

The manager has been granted a licence to use the index in connection with the operation, marketing and promotion of the ETF.
Any such replacement index will be notified to Unit holders.
Compilation of the index

No warranty, representation or guarantee is given as to the accuracy or completeness of the index and its computation or any
information related thereto. The process and the basis of computing and compiling the Index and any of its related formula,
constituent companies and factors may at any time be changed or altered by index provider.
232
Appendix II Unit Trust Loan Financing
Risk Disclosure Statement
Investing in a unit trust fund with borrowed money is more risky than investing with your own savings.
You should assess if loan financing is suitable for you in light of your objectives, attitudes to risk and financial circumstances. You
should be aware of the risks, which would include the following:
1. The higher the margin of financing (that is, the amount of money you borrow for every Ringgit of your own money that you put
in as deposit or down payment) the greater the potential for losses as well as gains.
2. You should assess whether you have the ability to service the repayments on the proposed loan. If your loan is a variable rate
loan, and if interest rates rise, your total repayment amount will be increased.
3. If unit prices fall beyond a certain level, you may be asked to provide additional acceptable collateral or pay additional amounts
on top of your normal installments. If you fail to comply within the time prescribed, your units may be sold to settle your loan.
4. Returns on unit trusts are not guaranteed and may not be earned evenly over time. This means that there may be some years
where returns are high and other years where losses are experienced instead. Whether you eventually realise a gain or loss
may be affected by the timing of the sale of your units. The value of units may fall just when you want your money back even
though the investment may have done well in the past.
The brief statement cannot disclose all the risks and other aspects of loan financing. You should therefore carefully study the terms
and conditions before you decide to take the loan. If you are in doubt in respect of any aspect of the Risk Disclosure Statement or
the terms of the loan financing, you should consult the institution offering the loan.
ACKNOWLEDGEMENT OF RECEIPT OF RISK DISCLOSURE STATEMENT
I acknowledge that I have received a copy of this Unit Trust Loan Financing Risk Disclosure Statement and understand its contents.
Signature :
Full name :
Date :
233

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Preface

Dear Valued Investor,

Master Prospectus details

AmTB - AmTrustee Berhad (163032-V).

MIXED ASSET FUNDS

FIXED INCOME & MONEY MARKET FUNDS

REGIONAL & GLOBAL FUNDS

Penang office Company Secretary

E-mail Business/registered address

Business/registered address Business address

Auditors of the Manager and of the HSBC Bank Malaysia Berhad

Fund information Equity Funds

Fund category / Type Equity / Growth.

Benchmark FTSE Bursa Malaysia Top 100 Index 63

Principal risks Stock specific risk and company specific risk. 43

Trustee Universal Trustee (Malaysia) Berhad. 203

Launch date 1 August 1995

Financial year-end 30 June

Maximum approved fund size 1 billion units.

Units in circulation (as at LPD) 252.30 million units.

Fund category / Type Equity / Aggressive Growth.

Benchmark FTSE Bursa Malaysia Top 100 Index 64

Principal risks Stock specific risk and company specific risk. 43

Trustee Universal Trustee (Malaysia) Berhad. 203

Launch date 28 September 1995

Financial year-end 31 October

Maximum approved fund size 1 billion units.

Units in circulation (as at LPD) 176.42 million units.

Fund category / Type Equity / Growth.

Benchmark FTSE Bursa Malaysia KLCI 65

Trustee AmanahRaya Trustees Berhad. 197

Launch date 18 August 2004

Financial year-end 30 April

Maximum approved fund size 500 million units.

Units in circulation (as at LPD) 187.96 million units.

Fund category / Type Equity / Growth.

Benchmark FTSE Bursa Malaysia Top 100 Index 66

Principal risks Stock specific risk and company specific risk. 44

Trustee Mayban Trustees Berhad. 198

Launch date 12 March 1998

Financial year-end 31 December

Maximum approved fund size 1 billion units.

Units in circulation (as at LPD) 145.72 million units.

Fund category / Type Equity / Growth.

Trustee Universal Trustee (Malaysia) Berhad. 203

Launch date 1 October 2003

Financial year-end 30 November

Maximum approved fund size 700 million units.

Units in circulation (as at LPD) 66.10 million units.

Fund category / Type Equity / Growth.

Trustee AmanahRaya Trustees Berhad. 197

Launch date 15 May 1991

Financial year-end 30 April

Maximum approved fund size 750 million units.

Units in circulation (as at LPD) 106.51 million units.

Fund category / Type Equity / Income.

Trustee Universal Trustee (Malaysia) Berhad. 203

Launch date 1 October 2003

Financial year-end 31 January

Maximum approved fund size 500 million units.

Units in circulation (as at LPD) 66.13 million units.

Fund category / Type Equity (Small-Cap) / Growth.

Benchmark FTSE Bursa Malaysia Small Cap Index. 70

Trustee Mayban Trustees Berhad. 198