ABF Pan Asia Bond Index Fund

Fund Details

Stock Code	Listing
Fund Structure	Investment Objective
Currency	Board Lot
Investments	Investment Style
Benchmark	Average Credit Ratings of the bonds held by PAIF
Duration of the bonds held by PAIF	Trading
Cash Creation and Redemption	Net Asset Value (NAV)
Income and Distribution	Reinvestment Services
Total Expense Ratio	Manager
Trustee	Custodian

Stock Code
2821

Listing
Stock Exchange of Hong Kong

Fund Structure
Singapore domiciled unit trust

Investment Objective
PAIF's investment objective is to provide investment results, before fees and expenses, that correspond closely to the total return of the iBoxx ABF Pan-Asia Index

Currency
USD

Board Lot
Trading in board lot of 10 units

Investments
Local currency denominated bonds issued by both government and quasi-government organizations in China, Hong Kong, Indonesia, Korea, Malaysia, Philippines, Singapore and Thailand

Investment Style
Passive

Benchmark
iBoxx ABF Pan-Asia Index composed by International Index Company Limited (IIC)

Average Credit Ratings of the bonds held by PAIF
A- / BBB+

Duration of the bonds held by PAIF
PAIF will track the iBoxx ABF Pan-Asia Index and will therefore have characteristics similar to this index. Currently, the average duration of the index is around 4.0

Notes: The average duration is weighted with market capitalization. The index average duration does not necessarily equal to PAIF's average duration.

Trading
PAIF is traded on the Stock Exchange of Hong Kong (SEHK) on trading days

Cash Creation and Redemption
Cash Creation and Redemption can only be undertaken through Authorized Participants (APs). Please click here for the list of APs

Net Asset Value (NAV)
PAIF's NAV reflects the value of the fund's portfolio of bonds and other assets less its liabilities. The unaudited NAV per unit of PAIF on each Dealing Day* will be published through the facilities of the Stock Exchange of Hong Kong and on PAIF's website on the following Dealing Day. The NAV per unit on the last Dealing Day of each month will also be published two business days after the relevant Dealing Day in the Straits Times and the Lianhe Zaobao in Singapore, the Hong Kong Economic Times and the South China Morning Post in Hong Kong

* Dealing Day refers to any day on which commercial banks are open for business in Singapore and Hong Kong, the Stock Exchange of Hong Kong is open for trading, and the iBoxx ABF Pan-Asia Index is compiled and published.

Income and Distribution
Unitholders would potentially receive income semi-annually

Reinvestment Services
None

Total Expense Ratio
0.21% of the Net Asset Value (NAV) per annum*

* Ratio of expenses to weighted average net assets for the year ended at 30 June 2008, which is computed in accordance with the revised Investment Management Association of Singapore's ("IMAS") guidelines on disclosure of expense ratio. Brokerage and other transaction costs, interest expense, foreign exchange gains/losses, tax deducted at source or arising on income received and dividends paid to unitholders are not included in the calculation of expense ratio.

Manager
State Street Global Advisors Singapore Limited

Trustee
HSBC Institutional Trust Services (Singapore) Limited

Custodian
HSBC Institutional Trust Services (Asia) Limited

IMPORTANT NOTES:

Investment involves risks. The fund is not promoted, sponsored, recommended, issued or guaranteed by any member of the EMEAP member central banks and monetary authorities. The fund is not guaranteed or endorsed by the governments of the eight investment markets. Please refer to PAIF's prospectus for further information about the fund. The information on this website is for informational purposes only and is not intended as an offer for the sale of, nor a solicitation of as for the purchase or sale of, securities or investment services, nor an invitation to invest in PAIF.

Investors should be aware of that PAIF is different from a typical Unit Trust. Redemption of PAIF's units could only be executed in substantial size through designated dealers and the listing of PAIF on the Stock Exchange does not guarantee a liquid market for the units. PAIF's units are traded on the stock exchange at market price, which may be different from the net asset value per unit of the fund, and the fund may be delisted from the stock exchange. The semi-annual distributions are dependent on PAIF's performance and are not guaranteed.