IMPORTANT:

• The Fund invests in other Collective Investment Schemes (“underlying CIS”) which may include those not regulated by the SFC. The Underlying CIS may not achieve their investment objectives and strategies. The Fund may incur additional costs when investing into Underlying CIS. The Underlying CIS may not have sufficient liquidity to meet the Fund’s redemption requests. The Fund follows a dynamic asset allocation strategy and may incur greater transaction costs when rebalanced periodically.
• The Fund invests in fixed income securities, an increase in interest rates may adversely affect the value of the bonds. The fund’s fixed income securities are subject to credit or insolvency risks of the issuer. The fund may also invest in debt securities that are subject to actual or perceived ratings downgrade. The Fund invests in collateralised and/or securitised products, which may be subject to higher liquidity and volatility risks. The Fund's investments in equities could incur significant losses due to higher fluctuation of equity values. The Fund’s investment is subject to securities lending counterparty and reverse repurchase transactions risk, and a default or failure by a counterparty combined may result in a reduction in the value of the Fund. The Fund’s NAV may be adversely impacted by investing in index funds (including ETFs), which are not actively managed and are subject to tracking error risk of the relevant underlying index’s returns. ETFs’ units may trade at a substantial premium or discount to the ETFs’ NAV due to market factors such as demand and supply, which may in turn adversely affect the Fund’s NAV.
• The Fund may invest in assets denominated in various currencies. Changes in exchange rates and currency controls may affect the value of the Fund's assets. The Fund is subject to currency control/conversion risk including Renminbi denominated Classes. The payment of distributions in RMB may be delayed due to RMB’s exchange controls and restrictions.
• Class 10 Units pay dividends gross of expenses and/or from capital at the Managers’ discretion. Paying dividends gross of expenses may result in more income being available for distribution; however, these shares may effectively pay dividends from capital – may amount to a partial return or withdrawal of an investor’s original investment or capital gains. All declared dividends result in an immediate reduction in the NAV price of the share class on the ex-dividend date.
• The Fund may use derivatives for hedging and for investment purposes. However, usage for investment purposes will not be extensive. The Fund may suffer losses from its derivatives usage.
• The value of the Fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount of your investment could be lost.
• Investors should not make investment decisions based on this document alone. Investors should refer to the Prospectus and Key Facts Statement for details including risk factors.