External Investment Manager

ROLES AND RESPONSIBILITIES OF THE EXTERNAL INVESTMENT MANAGER
Pacific Mutual has appointed and entered into an investment management agreement with an external investment manager to manage the equity, equity-related and collective investment schemes portion of the Pacific AsiaPac Income Fund, Pacific Focus China Fund and Pacific Dynamic AsiaPac Fund (“the Funds”). The said external investment manager is Singapore-based Lion Global Investors Limited (formerly known as Lion Capital Management Limited) (“Lion Global Investors”), incorporated in Singapore on 22 August 1986 and licensed by the Monetary Authority of Singapore as a holder of Capital Markets Services Licence for Fund Management since 10 October 1990.

Lion Global Investors is responsible for managing in accordance with the investment objective of the Funds. Lion Global Investors has discretionary authority over the investment of the Funds subject to the Securities Commission Guidelines on Unit Trust Funds, the relevant securities laws, the internal procedures as well as the investment objectives of the Funds and the direction of the Investment Committee of the Funds. Lion Global Investors reports to the Investment Committee of the Funds on a regular basis on the status of the Funds’ portfolio, proposed investment strategies and discuss matters relating to the portfolios.

BACKGROUND OF THE EXTERNAL INVESTMENT MANAGER

ABOUT LION GLOBAL INVESTORS
Lion Global Investors, a member of the Oversea-Chinese Banking Corporation Limited (OCBC) Group, is one of the largest asset management companies in Southeast Asia, with group assets under management of S$49.9 billion (US$37.3 billion) as at 31 December 2017.

Established since 1986, we are uniquely positioned to provide Asian equities and fixed income strategies and funds to both institutional and retail investors.

The Team At Lion Global Investors
The clients of Lion Global Investors are served by one of the largest and most experienced investment teams in Asia dedicated to asset management. A strong team of more than 40 fund managers and analysts averaging over 17 years of financial industry experience, with more than half of the members holding the Chartered Financial Analyst (CFA) designation, provides the scale, worldwide coverage and information edge to act in our clients’ best interests.

Headquartered in Singapore, Lion Global Investors enjoy the advantage of seamless and coordinated access to all management, investment, support and operational functions in a centralised approach, providing efficiency in servicing their clients worldwide.

Strong Parentage
The Asian credentials of Lion Global Investors are firmly established by its membership of the Oversea-Chinese Banking Corporation Limited (OCBC) Group. Lion Global Investors is 70% owned by Great Eastern Holdings Limited, a subsidiary of OCBC Bank, and 30% owned by Orient Holdings Private Limited, a wholly-owned subsidiary of OCBC Bank.

OCBC Bank, established in 1932, is now the second-largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore and the Asia Pacific by The Asian Banker.

Source: www.lionglobalinvestors.com/en/about-lgi/index.html

For more information, please visit www.lionglobalinvestors.com

ABOUT GREAT EASTERN HOLDINGS LIMITED
Founded in 1908, Great Eastern is the oldest and most established life insurance group in Singapore and Malaysia. With over S$60 billion in assets and around 4 million policyholders, we have three successful distribution channels – a tied agency force, bancassurance, and a financial advisory firm, Great Eastern Financial Advisers.

The Group also operates in Indonesia and Brunei and has a presence in China as well as a representative office in Myanmar. We were named Life Insurance Company of the Year at the Asia Insurance Industry Awards in 2011 and 2013, by Asia Insurance Review.

Great Eastern Life Assurance Company Limited has been assigned the financial strength and counterparty credit ratings of 'AA-' by Standard & Poor's since 2010, one of the highest among Asian life insurance companies.

Source:https://www.greateasternlife.com/sg/en/about-us/company-profile/a-trusted-name-in-insurance.html

For more information, please visit www.greateasternlife.com

ABOUT OCBC BANK
OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore and the Asia Pacific by The Asian Banker.

OCBC Bank and its subsidiaries offer a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.

OCBC Bank’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has more than 610 branches and representative offices in 18 countries and regions. These include the more than 340 branches and offices in Indonesia under subsidiary Bank OCBC NISP, and over 100 branches and offices in Hong Kong, China and Macau under OCBC Wing Hang.

OCBC Bank’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals.

OCBC Bank's insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the largest private sector asset management companies in Southeast Asia

The Second-Largest Banking Group In Singapore By Total Assets
We operate our banking business as OCBC Bank, Bank OCBC NISP, OCBC Wing Hang China, OCBC Al-Amin, and Bank of Singapore in over 18 countries and territories, and have strategic stakes in other financial services businesses operating under independent brands:

•   Insurance: Great Eastern
•   Asset management: Lion Global Investors
•   Brokerage: OCBC Securities and OCBC Sekuritas

Global Banking
Through these businesses, we offer a comprehensive range of specialist financial and wealth management services, including deposit-taking and personal lending, credit cards, corporate and enterprise banking, cash management, international trade financing, investment banking, private banking, treasury, stockbroking, insurance and asset management.

We are listed on the SGX-ST as one of the largest listed companies in Singapore by market capitalisation. We are also one of the largest listed banks in Southeast Asia by market capitalisation and have more than 29,000 employees globally.

Source: www.ocbc.com/group/who-we-are/group-business.html

For more information, please visit www.ocbc.com

KEY MEMBERS OF THE EXTERNAL INVESTMENT MANAGEMENT TEAM
The key members of the external investment team for the Pacific AsiaPac Income Fund, Pacific Focus China Fund and Pacific Dynamic AsiaPac Fund are:

•    Janice Lim (Head of Asian Equities, North Asia and designated person responsible for the investment management of the Pacific Focus China Fund [equity portion])
    Janice Lim is Head of Asia Equities, North Asia and manages the portfolios for Greater China and Korea at Lion Global Investors. Janice has 22 years of experience in the fund management industry. Prior to joining Lion Global Investors (LGI), she was with DBS Asset Management where she managed regional mandates and Asia-biased discretionary absolute return mandates for institutional clients and Whitefield Capital Management where she co-managed a South Korean dedicated country fund. Before that, she spent more than seven years with the OCBC Group where her last appointment was with LGI as the market specialist for South Korean and Taiwanese equities. She was also the lead portfolio manager for a number of Far East (ex-Japan) and Asia technology mandates. She graduated with a Bachelor of Science degree from the National University of Singapore with majors in Economics and Mathematics as well as a minor in Computer Programming and Applications.

  Ng Kian Ping (Portfolio Manager and designated person responsible for the investment management of the Pacific Dynamic AsiaPac Fund)
    Ng Kian Ping is a portfolio manager in the multi-asset strategies team at Lion Global Investors, where he is managing several institutional and retail absolute return portfolios. He also plays a support role in the selection and monitoring of external fund managers.

Kian Ping has 11 years of financial industry experience, which includes investing in exchange-traded funds, currency hedging and portfolio optimisation of absolute return strategies. Kian Ping earned a Master of Applied Finance (Distinction) from the Singapore Management University and a Bachelor in Civil Engineering from the National University of Singapore. He holds the Chartered Financial Analyst® (CFA) designation.

  Tan Aik Chye (Co-Head Asian Equities and designated person responsible for the investment management of the Pacific AsiaPac Income Fund [equity portion])
    Tan Aik Chye is a Co-Head of the Asian Equities team at Lion Global Investors. He is responsible for managing the Asian equities team and ensuring the implementation of the firm’s investment strategy and process. He is the co-manager of the Asia Pacific ex-Japan High Conviction portfolio and alternate manager of the Asia Pacific ex-Japan High Dividend Yield portfolio.

Aik Chye has 28 years of financial industry experience. Prior to joining Lion Global Investors in 2004, Aik Chye was a fund manager specialised in the developed and emerging equity markets of Australia, Thailand, Malaysia, Indonesia and the Philippines at AIB Govett (Asia). Before this, he worked in corporate financing at Peregrine Capital Singapore and IBJ Merchant Bank (Singapore); and at Ernst & Young as a senior auditor covering Singapore and Indonesia.

Aik Chye graduated with a Bachelor of Accountancy from the National University of Singapore and holds the Chartered Financial Analyst® (CFA) designation.