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        Important Risk Disclosure For PAIF

        • ABF Pan Asia Bond Index Fund ("PAIF") is an exchange traded bond fund which seeks to provide investment returns that corresponds closely to the total return of the Markit iBoxx ABF Pan-Asia Index ("Index"), before fees and expenses, and its return may deviate from that of the Index.
        • PAIF primarily invests in local currency government and quasi-government bonds in eight Asian markets, comprising of China, Hong Kong, Indonesia, Korea, Malaysia, Philippines, Singapore and Thailand.
        • Investment involves risks, including risks of exposure to bonds in both developed and emerging Asia markets. Investors may lose part or all of their investments.

        Important Risk Disclosure For PAIF

        • ABF Pan Asia Bond Index Fund ("PAIF") is an exchange traded bond fund which seeks to provide investment returns that corresponds closely to the total return of the Markit iBoxx ABF Pan-Asia Index ("Index"), before fees and expenses, and its return may deviate from that of the Index.
        • PAIF primarily invests in local currency government and quasi-government bonds in eight Asian markets, comprising of China, Hong Kong, Indonesia, Korea, Malaysia, Philippines, Singapore and Thailand.
        • Investment involves risks, including risks of exposure to bonds in both developed and emerging Asia markets. Investors may lose part or all of their investments.
        • PAIF is not "actively managed" and will not try to "beat" the market it tracks.
        • The Executives' Meeting of East Asia and Pacific Central Banks group (the "EMEAP") member central banks and monetary authorities are like any other investors in PAIF and each of them may dispose of their respective interest in the Units they hold. There are no guarantees that the EMEAP member central banks and monetary authorities will continue to be investors in PAIF.
        • The trading price of PAIF may differ from the underlying net asset value per share.
        • PAIF may not be suitable for all investors. Investors should not invest based on this marketing material only. Investors should read the PAIF's prospectus, including the risk factors, take into consideration of the product features, their own investment objectives, risk tolerance level etc and seek independent financial and professional advices as appropriate prior to making any investment.

        The Future of Asian Fixed Income. In One ETF

        Celebrating 20 years of innovation – A Pioneer in Asian Fixed Income ETFs.

        The ABF Pan Asia Bond Index Fund (PAIF) proudly stands as the first regional Asian fixed income ETF, launched in 2005 in response to the 1997 Asian Financial Crisis. Its pioneering features – low cost, diversified exposure to the Asian local currency bonds, all in a single trade - have made it an pioneer tool for investors in the region.

        2005 vs Now

        1. Total size of government bonds across the 8 Asian Markets (China, Singapore, Korea, Malaysia, Thailand, Indonesia, Hong Kong and Philippines):

        USD 1.35 trillion

        June 2005 1

        Close to 12x growth since fund inception.

        USD 17.35 trillion

        Latest 2

        2. Bond market activity (transaction volume)

        USD 659 billion

        June 2005 3

        Close to 13% annual growth since fund inception.

        USD 6.86 trillion

        Latest 4

        3. The average rating of local currency government bonds across the 8 markets (on an equal-weighted basis):

        A-/A

        June 2005 5

        Bonds quality improvement over time.

        A/A+

        Latest 6

        4. Foreign investor participation in emerging Asia:

        1%

        June 2005 7

        13%

        Latest 8

        Two Decades of Evolution

        Want to explore more? Go to check out the evolution of the index, the fund and the market dynamics.

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        How PAIF Has Delivered Two Decades of Low-Cost Stability

        Celebrating its 20th anniversary in 2025, the ABF Pan Asia Bond Index Fund (PAIF) was designed to support the development of Asian bond markets and provide a diverse, low-cost vehicle investing in government and quasi-government local-currency bonds in eight Asian markets.

        Learn More

        Find Out How the PAIF Asian Bond Markets Evolved

        The growth of Asian economies and their bond markets has been diverse but relatively resilient. Over the past 20 years, for example, income per capita has risen more than three times across the ASEAN bloc.

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        Why PAIF Will Continue to Harness Asian Opportunities

        PAIF will be underpinned by its straightforward access to Asia’s economic opportunities and the potential for attractive risk-adjusted returns.

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        Learn more about PAIF, view fund details

        This advertisement or publication has not been reviewed by the Monetary Authority of Singapore (the "MAS"). 

        The ABF Pan Asia Bond Index Fund (the 'PAIF') is an authorized unit trust in Hong Kong and Singapore only. Authorization does not imply official recommendation. Nothing contained here constitutes investment advice or should be relied on as such. Past performance of PAIF is not necessarily indicative of its future performance. The prospectus for PAIF is available and may be obtained from State Street Global Advisors Singapore Limited (the "Manager") (Singapore Company Registration number: 200002719D, regulated by the MAS) and authorized participants. Investors should read the prospectus before deciding whether to acquire units in PAIF. The value of units in PAIF and accruing to such units, if any, may fall or rise. The semi-annual distributions are dependent on PAIF's performance and are not guaranteed. Redemption of PAIF’s units could only be executed in substantial size through designated dealers and the listing of PAIF on the Stock Exchange of Hong Kong Limited and the Tokyo Stock Exchange (the 'Stock Exchanges') do not guarantee a liquid market for the units, and PAIF may be delisted from the Stock Exchanges. The Fund's Prospectus is available from State Street Global Advisors or can be downloaded from www.abf-paif.com*.

        All the information contained in this website is from SSGA and as of date indicated unless otherwise noted.

        The information contained in this website is issued by State Street Global Advisors Singapore Limited. The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA's express written consent. This website and the information contained herein may not be distributed and published in jurisdictions in which such distribution and publication is not permitted.

        All forms of investments carry risks, including the risk of losing all of the invested amount. Such activities may not be suitable for everyone.

        The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor. All material has been obtained from sources believed to be reliable. There is no representation or warranty as to the accuracy of the information and State Street shall have no liability for decisions based on such information.

        Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates rise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.

        Diversification does not ensure a profit or guarantee against loss.

        ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns. Frequent trading of ETF's could significantly increase commissions and other costs such that they may offset any savings from low fees or costs. 

        The investment objective of PAIF is to provide investment results that closely correspond to the performance of its benchmark index. The primary driver of investment decisions is the objective of generating returns to meet the investment objective. Climate change analysis does not form part of the security selection process and climate-related risk is not a factor applicable to PAIF being able to meet its investment objective.

        The Markit iBoxx ABF Pan-Asia Index referenced herein is the property of Markit Indices GmbH and is used under license. The PAIF is not sponsored, endorsed, or promoted by Markit Indices GmbH or any of its members.

        State Street Global Advisors Singapore Limited: Singapore address: 168 Robinson Road, #33-01 Capital Tower, Singapore 068912 (Company Reg. No: 200002719D, regulated by the Monetary Authority of Singapore). Telephone: +65 6826-7555. Facsimile: +65 6826-7501.

        Web: www.abf-paif.com

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