DEVELOPED ASIA PACIFIC FUND.

The Fund aims to produce attractive returns, mainly through capital growth, over the long term. To invest in any economic sectors of any of the markets represented by the MSCI Pacific Index, either directly or indirectly. Investment will be mainly in shares of companies. The markets currently included in the MSCI Pacific Index are Australia, Hong Kong, Japan, New Zealand and Singapore. The value of investments and any income from them may go down as well as up and you or your client may not get back the amount originally invested.