Verkaufsprospekt

It is expected that any leverage that arises as a result of
engaging in forward foreign exchange contracts, forward,
futures and swap currency contracts, call options on foreign
currency or foreign currency futures contracts for
hedging purposes will be minimal.
Any changes to the investment objective of the Sub-Fund
and any material changes to the investment policy may not
be made without the prior written approval on the basis of
a majority of votes cast at a general meeting of Unitholders
of the Sub-Fund. Any such changes may not be made
without the approval of the Central Bank. In the event of a
change in investment objective and / or a change to the
investment policy, a reasonable notification period will be
provided by the Manager to enable Unitholders to redeem
their Units prior to implementation of such change.
The Sub-Fund will be managed so as to be fully invested,
other than during periods where the Investment Manager
believes that a larger cash position is warranted.
The Sub-Fund’s investments are subject to the investment
restrictions as set out in the section of the Prospectus
headed "Investment Restrictions".
No assurance can be given that the Sub-Fund's
investment objective will be achieved.
The use of FDI may create an exposure risk, however, any
exposure arising as a result of the use of FDI's will not
exceed the Net Asset Value of the Sub-Fund (i.e. the Sub-
Fund will not be leveraged in excess of 100% of its Net
Asset Value).
The Manager will employ a risk management process
which will enable it to accurately measure, monitor and
manage the risks attached to financial derivative positions
and details of this process have been provided to the Central
Bank. The Manager will not utilise FDI which have not
been included in the risk management process until such
time as a revised risk management process has been filed
with the Central Bank.
The Manager will, on request, provide supplementary
information to Unitholders relating to the risk management
methods employed, including the quantitative limits that
are applied and any recent developments in the risk and
yield characteristics of the main categories of investments.
A list of the stock exchanges and markets in which the
Sub-Fund is permitted to invest, in accordance with the
requirements of the Central Bank, is contained in Appendix
I of the Prospectus and should be read in conjunction with,
and subject to, the Sub-Fund’s investment objective and
investment policy as detailed above. The Central Bank
does not issue a list of approved markets. With the exception
of permitted investment in unlisted securities investments
will be restricted to those stock exchanges and
markets listed in Appendix I of the Prospectus.
The risk factors specific to the Sub-Fund are set out in
section 4 below and includes Volatility Risk. These risk
factors may not be a complete list of all risk factors associated
with an investment in the Sub-Fund.
PineBridge Europe Large Cap Research Enhanced Fund
4. Additional Risk Factor
The general risk factors set out in the "Risk Factors" section
of the Prospectus apply to the Sub-Fund. In addition,
the following risk factor applies to the Sub-Fund. These
risk factors may not be a complete list of all risk factors
associated with an investment in the Sub-Fund.
Volatility Risk: All markets are subject to volatility based
on prevailing economic conditions. Securities in 'emerging'
or 'developing' markets may involve a higher degree of risk
due to the small current size of the markets for securities
of 'emerging' or 'developing' market issuers and the currently
low or non-existent volume of trading, which could
result in price volatility. Certain economic and political
events in 'emerging' or 'developing' economies, including
changes in foreign exchange policies and current account
positions, could also cause greater volatility in exchange
rates. As stated previously, some of the markets or exchanges
on which a Sub-Fund may invest may prove to be
highly volatile from time to time.
5. Application for Units
The following classes will be offered during the Initial Offer
Period.
Class A Units denominated in US Dollars
Class A1 Units denominated in Euro
Class A2 Units denominated in Sterling
Class A3 Units denominated in Japanese Yen
Class C Units denominated in US Dollars
Class C1 Units denominated in Euro
Class C2 Units denominated in Sterling
Class C3 Units denominated in Japanese Yen
Class H Units denominated in US Dollars
Class Y Units denominated in US Dollars
Class Y1 Units denominated in Euro
Class Y2 Units denominated in Sterling
Class Y3 Units denominated in Japanese Yen
Class YD Units denominated in US Dollars
Class Y1D Units denominated in Euro
Class Y3D Units denominated in Japanese Yen
Class X Units denominated in US Dollars
Class X1 Units denominated in Euro
Class X2 Units denominated in Sterling
Class X3 Units denominated in Japanese Yen
Class Y1 Units are currently in issue and are available for
subscription at the Net Asset Value.
Class A, Class A1, Class A2 and Class A3 Units are being
offered to the investors at USD12.50, Euro12.50,
STG12.50 and JPY1,500 respectively during the Initial
Offer Period which has commenced and will close on 30
June, 2011 at noon (Irish time).
Class C, Class C1, Class C2 and Class C3 Units are being
offered to the investors at USD12.50, Euro12.50,
STG12.50 and JPY1,500 respectively during the Initial
Offer Period which has commenced and will close on 30
| 111