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SUPPLEMENT 15<br />
PineBridge Global Focus Equity Fund<br />
Supplement 15 to the Prospectus dated 29 March,<br />
2011 for PineBridge Global Funds<br />
This Supplement contains specific information in relation to<br />
PineBridge Global Focus Equity Fund (the "Sub-Fund"), a<br />
sub-fund of PineBridge Global Funds (the "Fund") an<br />
open-ended umbrella unit trust authorised by the Central<br />
Bank pursuant to the Regulations.<br />
This Supplement forms part of and should be read in<br />
conjunction with the Prospectus for the Fund dated 29<br />
March, 2011 and any Supplements thereto, which contains<br />
the general description of:<br />
- the Fund and its management and administration;<br />
- its investment restrictions and borrowing powers;<br />
- its general management and Fund charges;<br />
- the taxation of the Fund and of its Unitholders;<br />
- its risk factors; and<br />
- names of all other sub-funds of the Fund<br />
which is available from the Manager at 30 North Wall<br />
Quay, IFSC, Dublin 1, Ireland.<br />
PineBridge Investments Ireland Limited is the Manager of<br />
the Fund. The Directors of the Manager are set out in the<br />
main body of the Prospectus.<br />
The Directors of the Manager accept responsibility for the<br />
information contained in the Prospectus and this Supplement.<br />
To the best of the knowledge and belief of the Directors<br />
(who have taken all reasonable care to ensure that<br />
such is the case) such information is in accordance with<br />
the facts and does not omit anything likely to affect the<br />
import of such information. The Directors accept responsibility<br />
accordingly.<br />
The audited financial information for the Fund will be sent<br />
on request to any Unitholder.<br />
An investment in the Sub-Fund should not constitute a<br />
substantial proportion of an investment portfolio and<br />
may not be appropriate for all investors.<br />
1. The Investment Manager<br />
The Manager has appointed PineBridge Investments LLC,<br />
c/o CSC Corp, 2711 Centerville Road, Suite 400, Wilmington,<br />
DE 19808, USA (registered address) and 399 Park<br />
Avenue, 4 th Floor, New York, NY 10022, USA (business<br />
address), to act as investment manager to the Sub-Fund.<br />
The Investment Manager has the responsibility for the<br />
investment management, on a discretionary basis, of the<br />
assets of the Sub-Fund.<br />
The Investment Manager is a US based investment manager<br />
regulated by the Securities and Exchange Commission<br />
and is a wholly owned subsidiary of Bridge Partners.<br />
As at 31 December, 2010 the Investment Manager had<br />
USD 44 billion assets under management.<br />
The Investment Manager is also a member company of<br />
PineBridge Global Focus Equity Fund<br />
PineBridge Investments. PineBridge Investments provides<br />
investment advice and markets asset management products<br />
and services to its clients around the world. It operates<br />
as a multi-strategy investment manager in 32 countries<br />
and jurisdictions, with USD 82.1 billion in assets under<br />
management as of 31 December, 2010. PineBridge<br />
Investments is a leading asset manager with long-term<br />
track records across listed equity, fixed income and alternative<br />
investments strategies, and a rich heritage managing<br />
assets for one of the world’s largest insurance and<br />
financial services companies.<br />
2. Investment Objective<br />
The Sub-Fund seeks to achieve growth at a reasonable<br />
price (meaning securities that have a growth potential and<br />
are reasonably priced as determined by conventional<br />
measures, such as priced earnings or by comparison to<br />
other securities in the same market and the same industry)<br />
by making equity and equity-related investments in global<br />
markets with a focus on superior and sustainable earnings<br />
performance.<br />
3. Investment Policy<br />
The Sub-Fund's investments will be allocated across<br />
global markets.<br />
The Sub-Fund may invest in locally listed Russian shares,<br />
although no more than 20% of Net Asset Value will be<br />
invested in locally listed Russian shares at any one time<br />
and investment will only be made in equity securities that<br />
are listed / traded on level 1 or level 2 of the RTS stock<br />
exchange and MICEX. Such an investment will not form<br />
the principal focus of the Sub-Fund.<br />
The Investment Manager believes that the performance of<br />
equities over longer periods of time is driven by the progression<br />
of earnings. The Sub-Fund will strive to add value<br />
by identifying stocks with superior sustainable earnings<br />
performance. The stock selection will also be influenced by<br />
valuation levels, but only to the extent that factors have<br />
been identified which are expected to drive valuation potential<br />
to be realised in terms of earnings progression.<br />
On a regional basis, the investment universe is categorised<br />
according to growth potential. This classification<br />
process incorporates the background of each company's<br />
historical growth patterns, resulting in an informed assessment<br />
of future prospects.<br />
Companies in the investment universe will be classified as<br />
follows:<br />
1. Exceptional growth prospects (normally, relatively<br />
new companies or companies going through radical transformation).<br />
2. High and stable growth.<br />
3. High but cyclical growth.<br />
4. Low or no growth, which are sub-divided into (a)<br />
stable, (b) cyclical and (c) turn-around situation.<br />
Distinct quantitative and qualitative criteria are set forth for<br />
buy and sell decisions.<br />
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