Allianz Global Investors Premier Funds - Fundsupermart.com

Prospectus dated 28 August 2009
Allianz Global Investors Premier Funds
- Global Internet Fund
Allianz Global Investors Singapore Limited

ALLIANZ GLOBAL INVESTORS PREMIER FUNDS
DIRECTORY
Managers
Allianz Global Investors Singapore Limited
6 Battery Road, #28-01, Singapore 049909
(Singapore company registration number 199907169Z)
Directors
Kwok Keng Han
Frank Klausfelder
Eric Lai
Nikhil Srinivasan
Trustee
HSBC Institutional Trust Services (Singapore) Limited
21 Collyer Quay, #14-01 HSBC Building, Singapore 049320
(Singapore company registration number 194900022R)
Auditors
PricewaterhouseCoopers LLP
8 Cross Street, #17-00 PWC Building, Singapore 048424
Custodian
HSBC Institutional Trust Services (Singapore) Limited
21 Collyer Quay, #14-01 HSBC Building, Singapore 049320
(Singapore company registration number 194900022R)
Solicitors to the Trustee
Shook Lin & Bok LLP
1 Robinson Road, #18-00 AIA Tower, Singapore 048542

ALLIANZ GLOBAL INVESTORS PREMIER FUNDS
PROSPECTUS
BASIC INFORMATION
1. Name of the collective investment scheme
1.1 The collective investment scheme offered in this Prospectus is the Global Internet Fund (the
“Sub-Fund”), which is constituted in Singapore and is a sub-fund of the ALLIANZ GLOBAL
INVESTORS PREMIER FUNDS (the “Scheme”), an umbrella unit trust.
2. Date of registration and expiry date of prospectus
2.1
This Prospectus was registered on 28 August 2009 and will expire on 28 August 2010.
3. The trust deed
3.1 The trust deed relating to the interests being offered to the public for purchase is the trust
deed dated 27 November 1998 (the “Original Deed”). The Original Deed has been amended
by way of the following supplemental deeds and amending and restating deeds:
First Supplemental Deed dated 24 November 1999
Second Supplemental Deed dated 23 August 2000
Third Supplemental Deed dated 22 June 2001
Fourth Supplemental Deed dated 1 November 2002
Fifth Supplemental Deed dated 1 July 2003
Sixth Supplemental Deed dated 31 March 2005
An Amending and Restating Deed dated 15 December 2005
A Second Amending and Restating Deed dated 2 May 2006
Third Amending and Restating Deed dated 15 December 2006
Fourth Amending and Restating Deed dated 2 May 2007
Fifth Amending and Restating Deed dated 10 December 2007
(collectively, the “Supplemental Deeds”).
3.2 The parties to the Original Deed as modified by the Supplemental Deeds (together, and as
may be amended or modified from time to time, the “Deed”) are Allianz Global Investors
Singapore Limited (the “Managers”) and HSBC Institutional Trust Services (Singapore)
Limited (the “Trustee”).
3.3 The Deed is binding on the Managers, the Trustee and all Holders (and all persons claiming
through them) as if they had each been a party to the Deed.
3.4 Much of the information in this Prospectus is a summary of corresponding provisions in the
Deed. Investors should read the Deed for further details and for further information which is
not contained in this Prospectus.
3.5 The Deed may be inspected, free of charge, at 6 Battery Road, #28-01, Singapore 049909
during usual business hours.
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4. Latest semi-annual report and audited financial statements
4.1 The latest semi-annual accounts or annual accounts, and semi-annual reports and annual
reports relating to the Sub-Fund may be obtained from the Managers upon request.
5. Disclaimers and other important information
5.1 The Sub-Fund offered in this Prospectus is an authorised scheme under the Securities and
Futures Act. A copy of this Prospectus has been lodged with and registered by the Monetary
Authority of Singapore (the “Authority”). The Authority assumes no responsibility for the
contents of this Prospectus. Registration of this Prospectus by the Authority does not imply
that the Securities and Futures Act or any other legal or regulatory requirements have been
complied with. The Authority has not, in any way, considered the investment merits of the
Sub-Fund.
5.2 The Managers accept full responsibility for the accuracy of the information set out in this
Prospectus and confirm, having made all reasonable enquiries, that to the best of their
knowledge and belief, there are no other facts the omission of which would make any
statement in this Prospectus misleading.
5.3 This Prospectus does not constitute an offer or solicitation for the purchase of Units to any
one in any jurisdiction in which such offer or solicitation is not authorised or to any person
to whom it is unlawful to make such offer or solicitation and may be used only in connection
with this offering of Units by the Managers or their approved distributors.
5.4 Investment in the Sub-Fund requires consideration of the normal risks involved in
investment and participation in securities. Details of the risks involved are set out in
Paragraph 7 of this Prospectus. Investors should consider these risks carefully before
making an investment decision.
5.5 Investors should seek professional advice to ascertain (i) the possible tax consequences, (ii)
the legal requirements and (iii) any foreign exchange restrictions or exchange control
requirements which they may encounter under the laws of the countries of their citizenship,
residence or domicile, and which may be relevant to the subscription, holding or disposal of
Units. Investors should inform themselves of and observe all such laws and regulations in
any relevant jurisdiction that may be applicable to them.
5.6 No application has been made for the Scheme or the Sub-Fund to be listed on any stock
exchange. Investors may purchase or sell Units through the Managers or their approved
distributors in accordance with the provisions of this Prospectus and the Deed.
6. Important risk disclosure
6.1 The Sub-Fund invests into Allianz RCM Internet Fund (the “Underlying Fund” and formerly
known as Allianz-dit Internet Fund). The Underlying Fund is a sub-fund of an umbrella fund,
Allianz Global Investors Fund V (“AGIF V”). AGIF V is an open-ended unit trust established as
an Undertaking for Collective Investment in Transferable Securities (“UCITS”) in Ireland
pursuant to the European Communities (Undertakings for Collective Investment in
Transferable Securities) Regulations, 2003, as amended (“UCITS III”). As at the date of this
Prospectus, the Underlying Fund may invest in financial derivative instruments (“FDIs”)
other than for purposes of efficient portfolio management in accordance with the
Underlying Fund’s prospectus (the “Underlying Fund Prospectus”) and the applicable laws to
which it is subject.
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6.2 In view of the equity-orientation of the Underlying Fund and the ability to use FDIs for
hedging and investment purposes, the decline in prices (whether of the securities or the
overall market) can have a negative impact on the Underlying Fund’s assets. The value of
units of the Underlying Fund may also be subject to a high level of fluctuation.
Consequently, investors should note that the Sub-Fund’s net asset value may be subject to a
high level of fluctuation.
Please refer to Paragraph 7 of this Prospectus for further details.
7. Glossary
7.1 The meaning of some of the terms and abbreviations used in this Prospectus can be found in
the Glossary of Terms at the end of this Prospectus. The meaning of terms not defined in
this Prospectus can be found in the Deed constituting the Sub-Fund.
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TABLE OF CONTENTS
DIRECTORY ............................................................................................................................................................... i
BASIC INFORMATION ............................................................................................................................................. ii
TABLE OF CONTENTS ..............................................................................................................................................v
1. STRUCTURE OF THE SCHEME ................................................................................................................... 1
2. THE MANAGERS .......................................................................................................................................... 1
3. THE TRUSTEE............................................................................................................................................... 2
4. OTHER PARTIES........................................................................................................................................... 2
5. INVESTMENT OBJECTIVE, FOCUS AND APPROACH............................................................................... 2
6. FEES AND CHARGES ................................................................................................................................... 3
7. RISKS ............................................................................................................................................................. 4
8. SUBSCRIPTION AND ISSUE OF UNITS...................................................................................................... 7
9. REGULAR SAVINGS PLAN ........................................................................................................................ 11
10. REALISATION OF UNITS ........................................................................................................................... 12
11. OBTAINING PRICES OF UNITS................................................................................................................. 13
12. SUSPENSION OF DEALINGS..................................................................................................................... 14
13. PERFORMANCE OF THE SUB-FUND AND BENCHMARK INFORMATION .......................................... 15
14. SOFT DOLLAR COMMISSIONS / ARRANGEMENTS............................................................................... 16
15. CONFLICTS OF INTEREST......................................................................................................................... 16
16. REPORTS ..................................................................................................................................................... 17
17. QUERIES AND COMPLAINTS.................................................................................................................... 17
18. EXEMPTIONS IN FAVOUR OF THE MANAGERS AND THE TRUSTEE.................................................. 17
19. OTHER MATERIAL INFORMATION.......................................................................................................... 19
GLOSSARY OF TERMS ........................................................................................................................................... 21
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1. STRUCTURE OF THE SCHEME
1.1 The Scheme is an open-ended umbrella unit trust comprising for the time being of the Sub-
Fund, the RCM Global High Payout Fund, the RCM Global Twin-Focus Fund, the AllianzGI
Enhanced Income & Growth Fund and the AllianzGI Choice Equity Fund. The Sub-Fund, as a
feeder fund, invests all or substantially all of its assets into the Underlying Fund, more
particularly described in Paragraph 5 of this Prospectus.
Only the Sub-Fund is offered in this Prospectus. The other sub-funds of the Scheme are
offered in separate prospectuses.
2. THE MANAGERS
2.1 Name and address of the Managers
The Managers of the Scheme are Allianz Global Investors Singapore Limited of 6 Battery
Road, #28-01, Singapore 049909.
2.2 Track record of the Managers
The Managers have managed collective investment schemes or discretionary funds in
Singapore since 1999. The Managers are also the managers of the other sub-funds of the
Scheme.
The Managers are part of Allianz Global Investors.
Allianz Global Investors, the asset management subsidiary of Allianz SE, has more than EUR
993 billion of assets under management for our clients worldwide. The Allianz Global
Investors’ investment managers – RCM, PIMCO, Nicholas-Applegate, Oppenheimer Capital,
NFJ Investment Group, and AAAm – offer their own distinctive philosophy and culture, and
provide clients with a comprehensive and constantly evolving range of investment styles
and products. Our 5,000 employees around the globe, including more than 1,000 investment
professionals, are committed to helping our clients achieve their goals by combining global
expertise and local market knowledge with innovative solutions and world-class
professional service. 1
2.3 Managers of the Underlying Fund
The manager of the Underlying Fund is Allianz Global Investors Ireland Ltd. (“AllianzGI
Ireland”).
AllianzGI Ireland was incorporated in Ireland in 1993 and has its place of business in
Dublin. The authorised share capital of the company is Euro 5 million of which Euro 2
million is in issue and is fully paid. The company has been managing mutual funds since
1995 and is part of Allianz Global Investors.
2.4 Investment Manager / Investment Adviser of the Underlying Fund
AllianzGI Ireland has appointed RCM Capital Management LLC (“RCM”) in San Francisco,
USA as the investment manager/investment adviser of the Underlying Fund. RCM was
originally formed as Rosenburg Capital Management in 1970, and it and its successors have
been in business consistently since then. RCM is part of Allianz Global Investors.
1 as at May 2009.
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2.5 Investors should note that the past performance of the Mangers and the investment
manager/investment adviser of the Underlying Fund is not necessarily indicative of its
future performance.
3. THE TRUSTEE
3.1 The Trustee for the Scheme is HSBC Institutional Trust Services (Singapore) Limited of 21
Collyer Quay, #14-01, HSBC Building, Singapore 049320.
4. OTHER PARTIES
4.1 The Registrar
The Registrar for the Scheme is the Trustee.
The Register can be inspected at 60 Alexandra Terrace, #10-12/13, The Comtech, Singapore
118502 during usual business hours subject to such reasonable closure of the Register and
such restrictions as the Managers and/or the Trustee may reasonably impose. The Register
is conclusive evidence of the number of Units held by each Holder and the entries in the
Register shall prevail in the event of any discrepancies between the entries in the Register
and the details appearing on any statement of holding, unless the Holder provides to the
satisfaction of the Managers and the Trustee that the Register is incorrect.
4.2 The Auditors
The Auditors for the Scheme are PricewaterhouseCoopers LLP of 8 Cross Street, #17-00 PWC
Building, Singapore 048424.
5. INVESTMENT OBJECTIVE, FOCUS AND APPROACH
5.1 The investment objective of the Sub-Fund is to provide investors with long-term capital
growth appreciation, by investing all or substantially all of its assets directly into the
Underlying Fund.
The Underlying Fund aims to provide investors with long-term capital growth primarily
through investment in companies that are listed on the Inter@ctive Week Internet Index or
derive the majority of their revenues and/or profits from the internet or associated
technologies, including hardware, software, electronic components and systems, media and
information services, telecommunications and internet companies as well as technology
groups or companies associated with the computer and internet business (“collectively
“Internet Companies”) via the equity markets. To achieve the investment objective, the
assets of the Underlying Fund will be invested in accordance with the principle of risk
diversification outlined in the Underlying Fund Prospectus. Briefly, the Underlying Fund will
invest at least 80% of its net assets in equity securities of Internet Companies (including
investments in index certificates and other certificates whose risk profiles typically
correlate with equity securities of Internet Companies). The Underlying Fund may invest up
to 10% of its net assets in equity securities of issuers which are not Internet Companies. The
Underlying Fund is also permitted to invest up to 10% of its net assets in other collective
investment schemes, including UCITS and Non-UCITS, provided that these collective
investment schemes are equity funds or money market funds managed directly or indirectly
by the manager or by a member company of the Allianz Group. The Underlying Fund is
permitted to place cash on deposit and to purchase money market instruments. In each
case, investments will be made depending on the investment manager/investment adviser’s
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assessment of the market situation and in accordance with the Underlying Fund Prospectus.
As at the date of this Prospectus, all units issued under the Underlying Fund to the Sub-Fund
are “A EUR Units” although other classes of units may be issued in the future. The “A EUR
Units” invested into by the Sub-Fund are denominated in Euro, which currency exposure is
not hedged. Investors should note the risks stated in Paragraph 7 of this Prospectus.
5.2 The Managers may change the investment policy of the Sub-Fund in accordance with the
provisions of the Deed.
6. FEES AND CHARGES
6.1 The fees and charges payable in relation to the Sub-Fund are set below:
Fees payable by the Holders
Initial Sales Charge Currently 5% (Maximum 5%)
Realisation Charge 0% (Maximum 2%)
Fees Payable by the Sub-Fund
Annual Management Fee Currently 0.25% (Maximum 3%)
Annual Trustee’s Fee
Currently maximum of 0.075%, subject always to a
minimum of S$7,500
Currently 0.075% on the first S$50,000,000, thereafter at
Annual Accounting and
0.05%, subject always to a minimum of S$7,500
Valuation Fee
Fees Payable by the Underlying Fund
Underlying Fund
Annual Management Fee*
Annual Service Fee*
Current
Current
Allianz RCM Internet Fund 1.75% 0.3%
* The annual management fee and the annual service fee are subject to a combined
maximum of 2.25% per annum.
Investors should note that the fees charged in relation to the Underlying Fund (calculated as
a percentage of the value of its assets) may be subject to change from time to time, with the
approval of the regulatory authority of that Underlying Fund. Investors as well as the Trustee
will be notified of such changes.
Total Management Fees Payable by the Sub-Fund
Current 2.00%
Maximum 5.25%
The current management fees set out above are the aggregate of the Management Fees
payable by the Sub-Fund to the Managers and the management fees payable by the
Underlying Fund to AllianzGI Ireland, and the maximum allowable for this aggregate.
6.2 The Initial Sales Charge and the Realisation Charge (where applicable) will be retained by
the Managers for their own benefit or, at the sole discretion of the Managers, paid in whole
or in part to their approved distributors. Any rounding adjustments shall be retained by the
Sub-Fund (unless permitted by the Authority to be retained by the Managers). Any
commission, remuneration or other sum payable to the approved distributors in respect of
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the issue or sale of any Units will not be added to the price of such Units but will be paid by
the Managers.
6.3 The Managers may at any time differentiate between investors as to the amount of the Initial
Sales Charge and the Realisation Charge where applicable (subject to the maximum
permitted) or allow discounts on such basis or on such scale as the Managers may think fit.
6.4 The Managers are entitled to charge for any additional expenses incurred where investors
are resident outside Singapore and to deduct such additional amounts from the
subscription moneys paid by such investors or the realisation proceeds due to them, as the
case may be.
6.5 As required by the Code on Collective Investment Schemes issued by the Authority, all
marketing, promotional and advertising expenses incurred in relation to the Scheme and
the Sub-Fund will be borne by the Managers and not charged to the deposited property of
the Sub-Fund.
7. RISKS
7.1 General risks of investing in Collective Investment Schemes
Investment in a collective investment scheme is meant to produce returns over the long
term. Investors should not expect to obtain short-term gains from such investments. The
prices of units in a collective investment scheme and the income from them may go up as
well as down. A possible loss of the principal invested cannot be ruled out. The risks of
investments made by a collective investment scheme include economic, political, foreign
exchange, liquidity, regulatory, interest rate, default and repatriation risks.
7.2 Risks specific to the Sub-Fund
The risks specific to the Sub-Fund are set out below:-
As the Sub-Fund (denominated in Singapore Dollars) will invest in the Underlying
Fund which is denominated in Euro, fluctuations in the exchange rates between the
Singapore Dollar and the Euro may have an impact on the income and value of the
Sub-Fund.
In addition, as the currency exposure of the Underlying Fund is not hedged against
the currency denomination in which the assets of the Underlying Fund are
denominated, the Sub-Fund will be exposed to the currency risks of the Underlying
Fund.
As the Underlying Fund invests in securities in various markets, the net asset value
of the Underlying Fund will be influenced by the prices of these investments. This
will in turn have an impact on the value of Units of the Sub-Fund. The Underlying
Fund’s equity-market orientation renders the Underlying Fund vulnerable to
investment risks, industry risks, general market risks, company-specific risks, risks
associated with investment in small capitalisation companies, creditworthiness
risks, risks of insolvency, counterparty risks and liquidity risks.
The investments of the Underlying Fund will each be denominated in a number of
different currencies and will be subject to fluctuations in currency exchange rates
and in certain cases, exchange control regulations. There may be state regulations
governing the outward remittance by foreign investors of their share of net profits
and dividends and the repatriation of their investments in a foreign currency.
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Investments in emerging markets and some Asian markets may be more volatile
than those in the developed countries. The prices of investments in these markets
may be influenced by economic and political conditions and interest rates. Some of
the investments which will be made in smaller markets may be less liquid and the
limited liquidity of these markets may therefore affect the Underlying Fund’s ability
to acquire or dispose of securities at the price and time it desires. There may also be
state regulations governing the outward remittance by foreign investors of their
share of net profits and dividends and the repatriation of their investments in a
foreign currency. Many of the emerging markets and some of the Asian markets may
not have well developed consolidated bodies of securities laws and regulatory
frameworks. Disclosure and regulatory standards in these countries may be less
stringent than those in developed markets. Accounting, auditing and financial
standards and requirements may not have been established in some respects or
may differ significantly from international standards and, as a result, information
on the company’s accounts may not be an accurate reflection of its financial
strength.
The investments of the Sub-Fund are subject to normal market fluctuations and
other risks inherent in investing in securities. There can be no guarantee against
loss, nor any assurance that the Sub-Fund’s investment objective will be attained.
The value of investments and the income from them and therefore the value of, and
income from, the Units of the Sub-Fund can fall as well as rise and investors may not
realise the same amount that they invest. Changes in exchange rates between
currencies may also cause the value of an investment to diminish or increase. In
addition to favourable and unfavourable currency rate developments, the Sub-Fund
is subject to the possible imposition of exchange control regulations or currency
blockages with respect to its investments.
While there are also the usual risks of investing in bonds and other fixed income
securities, bonds and other fixed income securities are subject to interest rate
fluctuations and credit risks, such as risk of default by issuers. Investors should note
that the Underlying Fund will have limited exposure to money market assets,
thereby increasing the risks of interest rate changes, general market risks,
company-specific risks, creditworthiness risks, counterparty risks and liquidity
risks to the Sub-Fund.
Investors should be aware that investments in single country, sectoral or regional
funds which may present greater opportunities and potential for capital
appreciation, may be subject to higher risks as they may be less diversified than a
global portfolio. It is recommended that an investment in the Sub-Fund should not
constitute a substantial proportion of an investor’s portfolio.
Investors should be aware that technology, communications and entertainment
industries may be subject to greater government regulation than many other
industries in certain countries; changes in government policies and the need for
regulatory approval may have a material adverse effect on these industries. The
companies which the Sub-Fund invests in may also be subject to risks of developing
technology and communications, competitive pressures and other factors and are
dependent upon consumer and business acceptance as new technologies evolve.
Trading in such securities may be subject to more abrupt price movements.
Investment in the Sub-Fund may only be suitable for investors who can accept the
associated volatility and are prepared to take a medium to longer term view of their
investment.
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The Underlying Fund is exposed to concentration risks, emerging market risks,
political risks, country/transfer risks, custodial risks, risks of settlement default,
risks associated with the use of FDIs, the specific risks of investing in target funds,
fund size risks, risks of dealing restrictions and compulsory actions, inflation risks,
risks of general changes, risks of changes in constitutional documentation,
investment objective and policies and general conditions, key person risks, risks of
transaction costs due to subscriptions and redemptions affecting the Sub-Fund and
performance fee risks.
7.3 Risks specific to use of FDIs
(a)
(b)
(c)
(d)
(e)
The Underlying Fund may, but is not required to, use FDIs for hedging and/or
investment purposes, in accordance with the terms of and the limits and conditions
set out in the Underlying Fund Prospectus, subject to applicable laws. The FDIs
which may be used by the Underlying Fund include but are not limited to futures,
options (including options on futures), swaps, swaptions, forwards, caps and floors,
contracts for differences, credit derivatives, structured notes (including index
certificates, index linked notes, convertible securities, exchangeable securities and
mortgage-backed securities), investment certificates and hybrid securities.
The Underlying Fund is permitted to effect repurchase agreements, reverse
repurchase agreements and stocklending agreements in accordance with the
Underlying Fund Prospectus.
The Underlying Fund is required to ensure that its global exposure relating to FDIs
does not exceed its total net asset value. This means that the Underlying Fund’s
overall risk exposure may not exceed 200% of the net asset value. The overall risk
exposure of the Fund may not be increased by more than 10% by means of
temporary borrowing so that the Underlying Fund’s overall risk exposure may not
exceed 20% of the net asset value at any time.
The use of FDIs involves increased risks for the Underlying Fund, and consequently,
the Sub-Fund. The ability to use such instruments successfully depends (amongst
others) on the relevant manager’s ability to accurately predict movements in stock
prices, interest rates, currency exchange rates or other economic factors and the
availability of liquid markets. If the predictions of movements in the direction of the
stock prices, interest rates, currency exchange rates or other economic factors are
inaccurate or if the FDIs do not produce the desired economic effect as anticipated,
then the Underlying Fund could suffer greater losses than if it had not used the FDIs.
The ability to use strategies using FDIs may be limited by market conditions and
regulatory limits and there can be no assurance that the objective sought to be
attained from the use of such strategies will be achieved. Participation in the
options or futures markets and in swap contracts and in currency exchange
transactions involves investment risks and transaction costs to which the
Underlying Fund would not be subject if it did not use such strategies.
The Underlying Fund is required to employ a risk management process to monitor,
measure and manage the risks attached to FDI positions. AllianzGI Ireland employs
a risk management process which enables it to continuously and accurately
measure, monitor and manage the various risks associated with the FDIs held by the
Underlying Fund, including all FDI positions, and to ensure compliance with the
relevant investment restrictions as regards FDIs. The risk management process is
submitted to and cleared by the regulatory authority of the Underlying Fund.
AllianzGI Ireland will ensure that the risk management and compliance procedures
and controls adopted are adequate and that it has the necessary expertise to control
and manage the risks relating to the use of FDIs. At the written request of an
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investor, the Managers will procure that supplementary information 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 the investments, be provided to the investor, save for any
information which AllianzGI Ireland may consider confidential.
8. SUBSCRIPTION AND ISSUE OF UNITS
8.1 How Units may be purchased and paid for
(a)
Cash subscriptions
Investors may apply to subscribe for Units in the Sub-Fund by submitting the
enclosed Application Form to the Managers or their approved distributors, together
with such other documents as may be required by them and the subscription
moneys in full in the manner stipulated by them.
Payment shall be in the form of a Singapore Dollar cheque or a banker’s draft made
payable to, or via telegraphic transfer to, the account name specified in the
Application Form.
(b)
Subscriptions through use of SRS moneys
Investors may also subscribe for Units by paying with their SRS moneys. Investors
paying with their SRS moneys will have to give a written authorisation to the
relevant SRS Operator for moneys to be withdrawn from their SRS Accounts for the
subscription of Units.
(c)
Central Provident Fund Investment Scheme (“CPFIS”)
As of 1 July 2007, the Sub-Fund is no longer included under the CPFIS and no longer
accepts subscriptions with CPF moneys. Investors are not required to but may
realize their existing Units purchased with CPF moneys in accordance with
Paragraph 10 below.
8.2 Applications through an ATM
When an investor applies for Units via an automated teller machine (“ATM”) of the Relevant
Participating Bank, the investor confirms:
(i)
(ii)
that he has read a copy of this Prospectus; and
his permission to the Relevant Participating Bank to disclose relevant particulars of
his account to the Relevant Persons.
During any period when the issue of Units is suspended, the application for Units via the
ATM will also be suspended. Any charges to be imposed by the Relevant Participating Bank
in connection with any application for Units via the ATM will be borne by the investor. Upon
the investor’s request, the Managers will provide him with hard copies of this Prospectus,
the Deed and any supplemental deed for the time being in force subject to any charge which
may be levied for a copy of the Deed and any such supplemental deed (not exceeding a
maximum of S$50 per copy).
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8.3 Applications through the Internet
The Managers may offer Units to the public via the Internet subject to applicable laws,
regulations, practice directions and other requirements by the relevant authorities. By making
an electronic online application for the subscription or realisation of Units on or through the
web-site of the Managers or the Relevant Participating Distributor (as the case may be), or by
an application form printed from such a web-site, the investor confirms:-
(i)
(ii)
(iii)
that he has read a copy of this Prospectus;
that he is making the application for the subscription of Units while being present in
Singapore; and
his permission to the Relevant Participating Distributor to disclose relevant
particulars of his account to the Relevant Persons.
During any period when the issue or realisation of Units is suspended, the application for
subscription or realisation of Units via the Internet will either be suspended or not
entertained. Any charges to be imposed by the Managers or the Relevant Participating
Distributor in connection with any application for the subscription or realisation of Units
via the Internet will be borne by the investor.
8.4 Minimum initial investment and minimum subsequent investment
The minimum initial investment and minimum subsequent investment for Units in the
Sub-Fund are S$500 and S$100 respectively.
8.5 Pricing and Dealing Deadline
As Units are issued on a forward pricing basis, the Issue Price of Units will not be
ascertainable at the time of application. If an investor’s application is received by the
Managers before 3.00 p.m. on a Dealing Day, the application will be taken to have been
received on that Dealing Day and the investor will be issued Units at that Dealing Day’s Issue
Price. If the application is received after 3.00 p.m. on a Dealing Day or on a day which is not a
Dealing Day, the application will be taken to have been received on the next Dealing Day and
the investor will buy Units at the next Dealing Day’s Issue Price.
The Issue Price of Units on a Dealing Day is calculated by ascertaining the Value per Unit as
at the Valuation Point in relation to that Dealing Day, by adding the applicable Initial Sales
Charge and appropriate Transactions Adjustment and by adjusting the total figure upwards
to three decimal places (or such other number of decimal places as the Managers may from
time to time determine with the approval of the Trustee).
8.6 How the number of Units are allotted to an investor
The following is an illustration of the number of Units that an investor in a Sub-Fund will
receive based on an investment amount of S$500 and a notional Issue Price of S$1.00. (The
actual Issue Price of the Units will fluctuate according to the Value of the Sub-Fund
Property):-
S$500 / S$1.00 = 500.00
Your Notional No. of
investment Issue Price* Units
(*includes the Initial Sales Charge)
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8.7 Confirmation of purchase
A trade confirmation will be sent to Holders within 7 Business Days of the receipt and
acceptance of their application by the Managers.
8.8 Issue of Units
(a)
(b)
The Managers have the exclusive right to effect the creation and issue of Units in the
Sub-Fund and the acceptance or non-acceptance of applications for purchase of
Units are at the absolute discretion of the Managers acting in consultation with the
Trustee and in the best interest of the Sub-Fund. If any application is rejected by the
Managers, the subscription moneys will be refunded (without interest) to the
applicant within a reasonable period of time in such manner as the Managers may
determine. No certificates will be issued by the Managers unless requested for by the
investor and subject to a fee of S$30 (or such other amount as the Managers may
determine).
The Managers may, in consultation with the Trustee and in accordance with the
Deed, from time to time invite the public to apply for Units of the Sub-Fund at a fixed
price in accordance with the provisions of the Deed.
8.9 Cancellation of subscriptions by new subscribers
(a)
(b)
A new subscriber (as defined in Paragraph 8.9(b) below) will have the right to
cancel his subscription of Units (which shall include an agreement to participate in
a regular savings plan (“RSP”) under Paragraph 9 of this Prospectus) within 7
calendar days of the date on which he signed the subscription agreement or such
other longer period as the Managers may allow or the Authority may prescribe (the
“Cancellation Period”).
A “new subscriber” is an investor who:
(i)
(ii)
(iii)
is an individual;
is not an existing Holder who is purporting to cancel a subsequent
subscription of Units made after the Cancellation Period applicable to his
initial subscription of Units; and
is not an existing Holder participating in a RSP and effecting a second or
subsequent payment towards the RSP.
(c)
(d)
(e)
A cancellation request form is included with the Application Form for the
subscription of Units or may be obtained from the Managers or their approved
distributors.
The new subscriber must exercise his right to cancel his subscription of Units within
the applicable Cancellation Period, by sending a cancellation request to the
Managers or their approved distributors by hand or post. The relevant date for
determining whether a cancellation has been exercised within the Cancellation
Period is the date on which the cancellation request was delivered by hand or was
posted (as determined by its postmark). Where the last day of the Cancellation
Period falls on a Sunday or a public holiday, the Cancellation Period is deemed to be
extended to the next calendar day, not being a Sunday or public holiday.
A cancellation request received by the Managers or their approved distributors on or
before 3.00 p.m. on a Dealing Day will be deemed to have been received on that
9

Dealing Day. A cancellation request received by the Managers or their approved
distributors after 3.00 p.m. on a Dealing Day, or on a day which is not a Dealing Day,
will be deemed to have been received on the next Dealing Day.
(f)
(g)
The Managers or their approved distributors will pay the proceeds arising from the
cancellation of a subscription of Units under this Paragraph 8.9 (the “cancellation
proceeds”) within 6 Business Days (or such other period as the relevant authorities
may require from time to time) after the Dealing Day on which the cancellation
request is received by the Managers, unless the determination of the amount of
cancellation proceeds has been suspended pursuant to the provisions of the Deed.
In such event, the payment of the cancellation proceeds will be deferred until after
the end of the suspension.
The cancellation proceeds payable in relation to the cancellation of a subscription of
Units under this Paragraph 8.9 will be determined as the lower of:
(i)
(ii)
the Market Value (as defined below); or
the Original Subscription Amount (as defined below),
and any excess in the Market Value over the Original Subscription Amount, or in the
Original Subscription Amount over the Market Value (as the case may be), will be
retained by the Sub-Fund.
“Market Value” in relation to Units, the subscription of which is being cancelled by a
new subscriber, means the value of such Units on the relevant Dealing Day
calculated as the aggregate of (a) the total value of such Units based on the
Realisation Price on such Dealing Day (but without deducting the Realisation
Charge (if any)), and (b) the total Initial Sales Charge paid for such Units.
“Original Subscription Amount” in relation to Units, the subscription of which is being
cancelled by a new subscriber, means the total amount (including the Initial Sales
Charge) paid by the new subscriber for the subscription of those Units.
Investors should note that the published Realisation Price is indicative in nature
and can change during the period between the submission and processing of the
cancellation request.
(h)
(i)
(j)
(k)
The Realisation Charge, if any, will not be imposed on a new subscriber who
exercises his right to cancel his subscription of Units.
In the case where a new subscriber has more than one subscription and chooses to
cancel one or more (but not all) of his subscriptions to which he has a right to
cancel, the cancellation of the new subscriber’s subscription or subscriptions must
not result in the new subscriber holding fewer Units than the Minimum Holding for
the Sub-Fund.
Any distributions to a new subscriber who has cancelled his subscription of Units
which have been declared but not paid will be due to the new subscriber in
accordance with the provisions of the Deed (whether or not an election for such
distributions to be reinvested has been made by the new subscriber).
A new subscriber may choose to realise his Units under Paragraph 10 of this
Prospectus instead of cancelling his subscription of Units but should note that he
will not be able to enjoy the benefits of a cancellation under this Paragraph 8.9 (i.e.
there will be no refund of the Initial Sales Charge and the Realisation Charge (if
applicable) may be imposed) and the realisation proceeds may be lower than the
10

cancellation proceeds if the appreciation in the value of the Units is less than the
Initial Sales Charge.
(l)
(m)
Paragraph 10.2 shall apply mutatis mutandis to the cancellation of a subscription of
Units under this Paragraph 8.9.
Further information on the terms and conditions applicable to the Cancellation
Period and the steps which a new subscriber must take to effect such a cancellation
are contained in the Application Form for the subscription of Units. New subscribers
should read such information carefully before subscribing for Units in the Sub-Fund.
8.10 Switching of units
Applications for switching of Units of the Sub-Fund (the "original Sub-Fund") into Units of
another sub-fund under the Scheme (the "new Sub-Fund") may be made via switching forms
which may be obtained from the Managers or their approved distributors. Provided that no
switching of Units may be made which would result in the investor holding fewer units than
the Minimum Holding in the Sub-Fund.
Save as hereinafter provided, the switching of Units shall be made on the day which is both a
Dealing Day in relation to Units of the original Sub-Fund and a Dealing Day in relation to
Units of the new Sub-Fund ("Common Dealing Day") on which the switching form is received
by the Managers or (if not received on a Common Dealing Day) on the next following
Common Dealing Day.
Switching of the Units of the original Sub-Fund shall be effected by the cancellation of such
Units and by the issue of Units of the new Sub-Fund, such cancellation and issue taking place
on the relevant Common Dealing Day, and the number of Units of the new Sub-Fund to be
issued on switching shall be determined by the Managers in accordance with the provisions
of the Deed.
9. REGULAR SAVINGS PLAN
9.1 A Holder may apply for Units via a RSP with a minimum monthly contribution of S$100 or
any amount above this sum, or such amount as the Managers and the Trustee may agree
from time to time. No minimum initial investment is required before starting on a RSP.
9.2 Holders must complete a Direct Debit Authorisation (“DDA”) Form authorising the payment
for the RSP and submit the DDA Form together with the Application Form.
9.3 The monthly contribution for the RSP will be deducted (from the Holder’s relevant bank
account, or SRS Account as the case may be) as authorised in the DDA Form and the
Application Form. The debit date will be on the 8 th of each month (or the next Business Day
if that day is not a Business Day). After the monthly contribution is received by the
Managers, the investment will be made and the Units will be allotted to the Holders on the
10 th of each month (or the next Business Day if that day is not a Business Day).
9.4 A Holder may cease his participation in the RSP without penalty by giving not less than 30
days’ prior notice in writing to the Managers.
11

10. REALISATION OF UNITS
10.1 How Units may be realised or sold
Holders may realise their Units by submitting to the Managers or their approved
distributors a written realisation request in such form and together with such other
documents as may be required by them.
The Managers may refuse any realisation request if all relevant documentation has not been
submitted, if such realisation would result in non-compliance with the Minimum Holding
requirement relating to the Sub-Fund, or in any other circumstances agreed with the
Trustee in writing and upon giving prior written notice of such circumstances to the Holders
of the Sub-Fund.
10.2 Limit on realisation
With a view to protecting the interests of Holders, the Managers may, with the approval of
the Trustee, in certain instances stipulated in the Deed, limit the total number of Units
which Holders may realise on any Dealing Day to ten per cent of the total number of Units of
the Sub-Fund then in issue. If so, requests for realisation of Units in the Sub-Fund on such
Dealing Day will be reduced rateably and be treated as if made in respect of each
subsequent Dealing Day until all Units in the Sub-Fund to which the original request related
have been realised. Where, pursuant to Paragraph 8.9, one or more new subscribers also
exercise(s) his/ their right(s) to cancel his/ their subscription(s) of Units, such Units shall be
included in the calculation in determining whether the ten per cent limit has been
exceeded.
10.3 Minimum Holding
A Holder will not be entitled to realise only part of his holding of Units in the Sub-Fund
without the approval of the Managers and the Trustee if due to such realisation, his holding
would be reduced to less than the Minimum Holding for the Sub-Fund.
The Minimum Holding for the Sub-Fund is the number of Units which may be purchased for
S$100 based on the price at which the Units were subscribed for (or such other amount as
the Managers may determine with prior notice to the Trustee and as permitted by the
relevant authorities).
10.4 Pricing and Dealing Deadline
As Units are priced on a forward pricing basis, the Realisation Price of Units will not be
available at the time of submission of the realisation request. If an investor’s realisation
request is received before 3.00 p.m. on a Dealing Day, the realisation request will be taken to
have been received on that Dealing Day and the investor will realise his Units at that Dealing
Day’s Realisation Price. If the realisation request is received after 3.00 p.m. on a Dealing Day
or on a day which is not a Dealing Day, the realisation request will be taken to have been
received on the next Dealing Day and the investor will realise his Units at the next Dealing
Day’s Realisation Price.
The Realisation Price of a Unit on a Dealing Day is calculated by ascertaining the Value per
Unit as at the Valuation Point in relation to that Dealing Day, by deducting the applicable
Realisation Charge and appropriate Transactions Adjustment and adjusting the total figure
downwards to three decimal places (or such other number of decimal places as the
Managers may from time to time determine with the approval of the Trustee). Any rounding
adjustments shall be retained by the Sub-Fund (unless permitted by the Authority to be
retained by the Managers).
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10.5 How the realisation proceeds are calculated
The following is an illustration of the realisation proceeds that an investor will receive based
on a realisation of 1000 Units and a notional Realisation Price of S$1.10. (The actual
Realisation Price of the Units will fluctuate according to the Value of the Sub-Fund):-
1000 x S$1.10 = S$1100.00
Your Notional Realisation
Holding Realisation Price* Proceeds
(*currently, there is no Realisation Charge)
10.6 Payment of realisation proceeds
(a)
(b)
(c)
(d)
The realisation proceeds will be paid to investors within 4 Business Days in the case
of a bond fund and 6 Business Days in the case of all other funds or 7 Business Days
in the case of a feeder fund (or such other period as the relevant authorities may
require from time to time) after the Dealing Day on which the relevant realisation
request is received by the Managers unless the realisation of Units has been
suspended in accordance with the provisions of the Deed.
In the case of an investor who has purchased Units with cash, any moneys payable
to him under the provisions of the Deed in respect of such Units will be paid by
cheque sent through the post to his registered address or by telegraphic transfer to a
nominated bank account.
In the case of an investor who has purchased Units with SRS moneys, any moneys
payable to him under the provisions of the Deed in respect of such Units will be paid
by transferring the moneys to the relevant SRS Operator for credit of the investor’s
SRS Account or otherwise in accordance with the provisions of any applicable laws,
regulations or guidelines. Where his SRS Account has been closed, the moneys will
be paid to the investor in accordance with Paragraph 10.6(b) or otherwise in
accordance with any applicable laws, regulations or guidelines.
In the case of an investor who has purchased Units with CPF moneys from his CPF
Investment Account, any moneys payable to him under the provisions of the Deed in
respect of such Units will be paid by transferring the moneys to the relevant
Approved Bank for credit of the investor’s CPF Investment Account or CPF ordinary
account or otherwise in accordance with the provisions of any applicable laws,
regulations or guidelines. Where both his CPF Investment Account and CPF ordinary
account have been closed, the moneys will be paid to the investor in accordance
with Paragraph 10.6(b) or otherwise in accordance with any applicable laws,
regulations or guidelines.
11. OBTAINING PRICES OF UNITS
11.1 The prices of Units will be published two Business Days after the relevant Dealing Day in,
The Business Times, Lianhe Zaobao, Reuters and Bloomberg (subject to the respective
publisher’s discretion) and are also posted on the Managers’ internet website at
http://www.AllianzGlobalInvestors.com.sg.
13

12. SUSPENSION OF DEALINGS
12.1 The Managers or the Trustee may, with the prior written approval of the other, suspend the
issue, realisation, cancellation or switching of Units or the calculation of the value of the
Sub-Fund Property:
(i)
(ii)
(iii)
(iv)
during any period when the Recognised Market on which any material proportion of
the Authorised Investments forming part of the Sub-Fund Property are listed or dealt
in is closed (otherwise than for ordinary holidays) or during which dealings are
restricted or suspended;
during any period when any market for any material proportion of any Authorised
Investments is closed (otherwise than for ordinary holidays);
during any period when there is in existence any state of affairs which in the opinion
of the Managers might seriously prejudice the interests of the Holders of the Sub-
Fund as a whole (including where withdrawal of deposits held for the account of the
Sub-Fund or the realisation of any material proportion of any Authorised
Investments cannot be effected normally or without seriously prejudicing the
interests of Holders of the Sub-Fund as a whole);
during any breakdown in the means of communication normally employed in
determining
(a)
(b)
(c)
(d)
(e)
the price of any such Authorised Investments;
the current price of such Authorised Investments in a Recognised Market;
the Value of any of the Authorised Investments;
the amount of any cash for the time being comprised in the Sub-Fund
Property;
the amount of any liability of the Trustee for account of the Sub-Fund,
or when for any reason the matters under sub-Paragraphs (a) to (e) cannot be
promptly and accurately ascertained;
(v)
(vi)
(vii)
(viii)
(ix)
during any period when remittance of moneys which will or may be involved in the
realisation of any material proportion of such Authorised Investments or in the
payment for such Authorised Investments cannot, in the opinion of the Managers,
be carried out promptly at normal rates of exchange;
for 48 hours (or such longer period as the Managers and the Trustee may agree)
prior to the date of any meeting of Holders (or any adjourned meeting) convened in
accordance with the Deed;
for any period pursuant to an order or direction of the Authority;
during any period when the fair value of a material portion of the Authorised
Investments cannot be determined; or
during any period when the issue, realisation, cancellation or switching of units or
the calculation of the fair value of the Underlying Fund is suspended;
14

12.2 Such suspension shall take effect forthwith upon the declaration in writing thereof to the
Trustee by the Managers (or, as the case may be, to the Managers by the Trustee) and shall
terminate on the day following the first Business Day on which the condition giving rise to
the suspension shall have ceased to exist and no other conditions under which suspension
is authorised under this Paragraph 12 shall exist upon the declaration in writing thereof by
the Managers (or, as the case may be, by the Trustee).
12.3 The Managers may also, with the approval of the Trustee, suspend the realisation of Units
for such reasonable period as may be necessary to effect an orderly realisation of
investments of the Sub-Fund in accordance with Clause 15.9 of the Deed.
12.4 Payment for any Units of the Sub-Fund realised before the commencement of any such
suspension but for which payment has not been made before the commencement thereof
may, if the Managers and the Trustee so agree, be deferred until immediately after the end
of such suspension.
12.5 The “material proportion” of any Authorised Investment means such proportion of any
Authorised Investment which when sold would in the opinion of the Managers in
consultation with the Trustee cause the Value of the Sub-Fund Property to be significantly
reduced.
13. PERFORMANCE OF THE SUB-FUND AND BENCHMARK INFORMATION
13.1 Performance of the Sub-Fund
The performance of the Sub-Fund and its benchmark (as of 30 June 2009 is shown in the
table below:-
1 Year 3 Years
(Average
Annual
Compounded
Return)
Offer-to-bid basis
5 Years
(Average
Annual
Compounded
Return)
Since Inception
(Average
Annual
Compounded
Return)
% % % %
Global Internet Fund -10.62 -3.67 -2.02 -13.47
Inter@ctive Week
Internet Index
-2.66 -0.78 -0.67 9.08
Notes:
1. Performance calculation of the Sub-Fund is in Singapore Dollars, with net dividends
reinvested. Source: Morningstar.
2. Inception date: 15 February 2000. Earliest data available from S&P Micropal: 24
March 2000.
3. Past performance of the Sub-Fund is not necessarily a guide to its future
performance.
4. The benchmark index during the launch of the Fund was Dow Jones Internet Index,
against which benchmarking was discontinued in January 2004 and replaced with
the Inter@ctive Week Internet Index and therefore the calculations since inception
have been normalised with the new Index to reflect the change.
13.2 Expense ratio
The expense ratios of the Sub-Fund including that of the Underlying Fund (calculated in
accordance with IMAS’ guidelines on the disclosure of expense ratios and based on figures
15

in the Sub-Fund’s latest audited accounts) over the financial year ended 31 December 2008
are 2.89% (excluding performance fees) and 2.89% (including performance fees). The
following expenses, if applicable, are excluded from the calculation of the expense ratios:-
(a)
(b)
(c)
(d)
brokerage and other transaction costs;
foreign exchange gains and losses;
front-end or back-end loads arising from the purchase or sale of other funds; and
tax deducted at source or arising from income received.
13.3 Turnover ratio
The turnover ratio of the Sub-Fund (calculated based on the lesser of purchases or sales
expressed as a percentage over average net asset value, i.e. average daily net asset value)
over the period 1 January 2008 to 31 December 2008 is 34.85%.
The turnover ratio of the Underlying Fund for the period 1 January 2008 to 31 December
2008 is 169.85%.
14. SOFT DOLLAR COMMISSIONS / ARRANGEMENTS
Neither the Managers, AllianzGI Ireland nor the investment manager/investment adviser of
the Underlying Fund may retain cash or other rebates from a broker or dealer in
consideration of directing transactions in the Sub-Fund’s or the Underlying Fund’s
deposited property, as the case may be, to the broker or dealer save that goods and services
(soft dollars) may be retained if:
(i)
(ii)
(iii)
the goods and services are of demonstrable benefit to the Sub-Fund or the
Underlying Fund, as the case may be;
transaction execution is consistent with best execution standards and brokerage
rates are not in excess of customary institutional full-service brokerage rates; and
periodic disclosure is made in the Sub-Fund’s or the Underlying Fund’s annual
report and semi-annual report, as the case may be, in the form of a statement
describing the Managers’, AllianzGI Ireland’s or the investment
manager/investment adviser’s soft dollar practices, as the case may be, including a
description of the goods and services received by them.
15. CONFLICTS OF INTEREST
15.1 The Managers are also the managers of the RCM Global High Payout Fund and the RCM
Global Twin-Focus Fund, the AllianzGI Enhanced Income & Growth Fund and the AllianzGI
Choice Equity Fund, all of which are sub-funds of the Scheme.
15.2 The Managers may from time to time have to deal with competing or conflicting interests of
the other funds which they manage with the Sub-Fund. For example, the Managers may
make a purchase or sale decision on behalf of the AllianzGI Enhanced Income & Growth
Fund without making the same decision on behalf of the Sub-Fund, as a decision whether or
not to make the same investment or sale for the Sub-Fund depends on factors such as the
cash availability and portfolio balance of the Sub-Fund. However, the Managers will use
their reasonable endeavours at all times to act fairly and in the interests of the Sub-Fund. In
particular, after taking into account the availability of cash and the relevant investment
guidelines of the AllianzGI Enhanced Income & Growth Fund and the Sub-Fund, the
Managers will endeavour to ensure that securities bought and sold will be allocated
16

proportionately as far as possible between the AllianzGI Enhanced Income & Growth Fund
and the Sub-Fund.
15.3 The Managers and the Trustee will conduct all transactions with or for the Sub-Fund on an
arm’s length basis.
15.4 The Managers or the Trustee or their respective affiliates (together the “Parties”) are or may
be involved in other financial, investment and professional activities which may on
occasion cause conflict of interest with the management of the Sub-Fund. Each of the Parties
will ensure that the performance of their respective duties will not be impaired by any such
involvement. In the event a conflict of interest does arise, the Parties will endeavour to
ensure that it is resolved fairly and in the interest of the Holders.
15.5 The Managers or the Trustee may own, hold, dispose or otherwise deal with Units as though
they were not a party to the Deed. In the event of any conflict of interest arising as a result of
such dealing, the Managers and the Trustee, following consultation with the other, will
resolve such conflict in a just and equitable manner as they deem fit.
15.6 The affiliates of the Trustee may be engaged to offer financial, banking and brokerage
services to the Sub-Fund provided these services are being provided on an arm’s length
basis.
16. REPORTS
16.1 Financial year-end
16.2 Reports
The financial year-end of the Sub-Fund is 31 December.
Holders shall be sent the annual audited financial statements, the annual accounts and the
annual report within three months after the end of the financial year and the semi-annual
reports and the semi-annual accounts within two months of 30 June each year.
17. QUERIES AND COMPLAINTS
17.1 Investors may call the Managers at 1800-438 0828 or email the Managers at
marketing.sg@AllianzGI-ap.com if they have any queries regarding their investment in the
Sub-Fund.
18. EXEMPTIONS IN FAVOUR OF THE MANAGERS AND THE TRUSTEE
18.1 Neither the Managers nor the Trustee shall incur any liability in respect of any action taken
or thing suffered by them in reliance upon any notice, resolution, direction, consent,
certificate, affidavit, statement, certificate of stock, plan or reorganisation or other paper or
document believed to be genuine and to have been passed, sealed or signed by the proper
parties.
18.2 Neither the Managers nor the Trustee shall incur any liability to the Holders for doing or (as
the case may be) failing to do any act or thing which by reason of any provision of any
present or future law or regulation, or of any decree, order or judgment of any court of
competent jurisdiction, or by reason of any request, announcement or similar action
(whether of binding legal effect or not) which may be taken or made by any person or body
17

acting with or purporting to exercise the authority of any government (whether legally or
otherwise) either they or either of them shall be directed or requested to do or perform or to
forbear from doing or performing. Neither the Managers nor the Trustee shall be under any
liability if for any reason it becomes impossible or impracticable to carry out any of the
provisions of the Deed.
18.3 Neither the Managers nor the Trustee shall be responsible for the authenticity of any
signature or any seal affixed to any instrument of transfer or form of application,
endorsement or other document affecting the title to or transmission of Units or be in any
way liable for any forged or unauthorised signature on or any seal affixed to such
endorsement, instrument of transfer or other document or for acting or giving effect to any
such forged or unauthorised signature or seal. The Managers and the Trustee respectively
may nevertheless require that the signature of any Holder or joint holder to any document
required to be signed by him under or in connection with the Deed shall be verified to their
reasonable satisfaction.
18.4 Neither the Managers nor the Trustee shall incur any liability for the consequences of acting
upon any resolution purported to have been passed at any meeting of Holders duly
convened and held in accordance with the provisions of the Deed in respect of which
minutes have been made and signed even though it may be subsequently found that there
was some defect in the constitution of the meeting or the passing of the resolution or that
for any reason the resolution was not binding on the Holders.
18.5 Any indemnity expressly given to the Managers or the Trustee in the Deed is in addition to
and without prejudice to any indemnity allowed by law but no provision in the Deed shall,
in any case where the Trustee or the Managers have failed to show the degree of care and
diligence required of them as trustee and managers, exempt them or indemnify them
against any liability for breach of trust.
18.6 Not withstanding anything in the Deed:
(a)
(b)
(c)
The Trustee shall not incur any liability in respect of or be responsible for losses
incurred through the insolvency of or any act or omission of any depository or
clearing system with which Authorised Investments may be deposited or any broker,
financial institution or other person (or in each case its nominee) with whom
Authorised Investments are deposited in order to satisfy any margin requirement;
The Trustee shall not incur any liability in respect of or be responsible for losses
incurred through the insolvency of or any act or omission of any nominee,
custodian, joint custodian or sub-custodian appointed by the Trustee except where
the Trustee has failed to exercise reasonable skill and care in the selection,
appointment and monitoring of such appointee (having regard to the market in
which the relevant appointee is located) or the Trustee is in wilful default; and
The Trustee shall not incur any liability in respect of or be responsible for losses
through the insolvency of or any act or omission of any sub-custodian not appointed
by it.
18.7 Nothing herein contained shall be construed so as to prevent the Managers and the Trustee
in conjunction or the Managers or the Trustee separately from acting as managers or trustee
of collective investment schemes separate and distinct from the Sub-Fund.
18

19. OTHER MATERIAL INFORMATION
19.1 The Deed
Investors should read the Deed for further details relating to the Sub-Fund. The Deed is a
legal document which sets out the rights, responsibilities and obligations of the Managers,
Trustee and Holders. The provisions of the Deed are binding on each Holder as if he were a
party to the Deed.
If an investor is in any doubt regarding the contents of this Prospectus, he/she should e-mail
the Managers at marketing.sg@AllianzGI-ap.com, or call the Managers at 1800-438 0828 or
consult his/her solicitor, financial advisor or other professional advisor.
19.2 Meetings of Holders
A meeting of the Holders duly convened and held in accordance with the provisions of the
Deed shall be competent by Extraordinary Resolution:-
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
to sanction any modification, alteration or addition to the provisions of the Deed
which shall be agreed by the Trustee and the Managers as provided in the Deed;
to sanction a supplemental deed increasing the maximum permitted percentage of
the Management Fee or the Trustee’s Fee as provided in the Deed;
to terminate the Scheme or the Sub-Fund (as the case may be) as provided in the
Deed or Section 295 of the Securities and Futures Act;
to remove the Auditors as provided in the Deed;
to remove the Managers as provided in the Deed;
to remove the Trustee as provided in the Deed;
to sanction such other matters as may be proposed by the Managers or the Trustee;
and shall be competent to consent to the exercise of the rights of voting as provided in the
Deed but shall not have any further or other powers.
An “Extraordinary Resolution” is defined in the Deed to mean a resolution proposed and
passed at a meeting of Holders duly convened and held in accordance with the provisions of
the Deed and carried by a majority consisting of not less than three-quarters of the Holders
of the Scheme or a sub-fund of the Scheme, as the case may be, voting at the meeting upon a
show of hands or, if a poll is duly demanded and taken, by a majority consisting of not less
than three-quarters in number of the votes given on such poll.
19.3 Removal of the Managers
The Managers may be removed by notice in writing to the Managers given by the Trustee if:-
(i)
(ii)
(iii)
the Managers go into liquidation (except a voluntary liquidation for the purpose of
reconstruction or amalgamation) or if a judicial manager or a receiver is appointed
of any of their assets; or
the Managers cease to carry on business; or
the Managers fail or neglect after reasonable notice from the Trustee to carry out or
19

satisfy any obligation imposed on the Managers by the Deed or if the Trustee is of the
opinion that it deems it strictly necessary to protect the interests of the Holders due
to serious wrongdoings on the part of the Managers; or
(iv)
(v)
the Holders by Extraordinary Resolution resolve that such notice be given; or
the Authority directs the removal of the Managers.
Upon the Trustee giving notice in accordance with the provisions of the Deed, the Managers
shall ipso facto cease to be the managers of the Scheme and the Trustee shall appoint some
other qualified corporation to be the managers.
The appointment of the new managers shall take effect upon and subject to such qualified
corporation entering into a supplemental deed with the Trustee. The supplemental deed (if
so required by the removed Managers) shall provide that the new managers purchase from
the removed Managers all Units of which the removed Managers are the Holder or deemed
to be the Holder and that the words AllianzGI or Allianz Global Investors Singapore Limited
or any abbreviation shall no longer form part of the name of the Scheme.
The above provisions shall not prejudice the rights of the Trustee, the Managers or the
Holders to terminate the Scheme or the Sub-Fund in accordance with the provisions of the
Deed.
The Managers may at any time retire in favour of a qualified corporation selected by the
Managers and approved by the Trustee upon and subject to such corporation entering into such
supplemental deed as mentioned above. Upon such deed being entered into and upon payment
to the Trustee of all amounts payable by the retiring Managers to the Trustee under the Deed at
the date of such deed, the retiring Managers shall be released from all further obligations but
without prejudice to the rights of the Trustee or of any Holder, former Holder or other person in
respect of any act or omission of the retiring Managers prior to such retirement.
19.4 Transferability of Units
(a)
(b)
Every Holder who has purchased Units with cash shall be entitled to transfer Units
by an instrument in writing in any usual or common form or in such other form as
the Managers and the Trustee may from time to time approve Provided That no
transfer shall be registered if such registration would result in the transferor or
transferee being a Holder of less than the Minimum Holding.
Units purchased with moneys from a Holder’s SRS Account are not transferable
except where the Holder’s SRS Account has been closed.
19.5 Securities Lending
The investment manager of the Underlying Fund may engage in securities lending subject to
the provisions of the Deed.
20

GLOSSARY OF TERMS
In this Prospectus the following expressions have, except where the context otherwise requires, the
meanings respectively shown opposite them:-
AllianzGI Ireland
Approved Bank
Auditors
Allianz Global Investors Ireland Ltd.
any bank appointed by the CPF Board to be a bank for the
purposes of the CPF Regulations
the auditors for the time being of the Sub-Fund
Authorised Investments (a) any Quoted Investment;
(b)
(c)
(d)
(e)
(f)
any Investment in respect of which an application
for listing for permission to deal has been made to a
Recognised Market and the subscription for or
purchase of which is either conditional upon such
listing or permission to deal being granted within a
specified period not exceeding twelve weeks (or such
other period as may be agreed between the
Managers and the Trustee) or in respect of which the
Managers are satisfied that the subscriptions or
other transactions will be cancelled if the application
is refused;
any Unquoted Investment;
any Investment which is a unit in any unit trust
scheme or a share or participation in an open-ended
mutual fund or other collective investment scheme;
the currency of any country or any contract for the
spot purchase or sale of any such currency or any
forward contract of such currency; and
any Investment which is not covered by paragraphs
(a) to (e) of this definition selected by the Managers
and approved by the Trustee.
Authority
Business Day
Central Provident Fund Act
Class
the Monetary Authority of Singapore
any day other than Saturday or Sunday on which commercial
banks in Singapore are generally open for business, or where
the context expressly requires, any day other than Saturday or
Sunday on which commercial banks in Singapore or
elsewhere are generally open for business, or any other day as
the Managers and the Trustee may agree in writing
the Central Provident Fund Act (Cap. 36) of Singapore as
modified from time to time
any class of Units in the Sub-Fund which may be designated as
a class distinct from another class in the Sub-Fund such as
“SGD Class”, “USD Class” and the like or such other
21

designation as may be determined by the Managers from time
to time, and Units in any such class may be accordingly
designated as “SGD Class Units”, “USD Class Units” and the
like or by any other relevant designation
CPF
CPF Board
CPF Investment Account
CPF ordinary account
CPFIS
Dealing Day
the Central Provident Fund
the Central Provident Fund Board, established pursuant to
the Central Provident Fund Act
an account opened by a Member with an Approved Bank in
which moneys withdrawn from his CPF ordinary account are
deposited for the purpose of investments under the CPFIS
the account referred to by the CPF Board as the ordinary
account
the CPF Investment Scheme (as defined in the Regulations)
or such other scheme as shall replace or supersede the CPF
Investment Scheme
in relation to Units of any particular Class, such day or days as
the Managers may from time to time with the approval of the
Trustee determine, but so that:-
(a) unless and until the Managers (with the approval of the
Trustee) otherwise determine, each Business Day after the
Commencement Date (as defined in the Deed) in relation
to the relevant Class shall be a Dealing Day in relation to
that Class; and
(b) without prejudice to the generality of the foregoing, if on
any day which would otherwise be a Dealing Day in
relation to Units of any particular Class the Recognised
Market on which Investments or other property
comprised in, and having in aggregate value amounting to
at least 50 per cent of Net Asset Value (as defined in the
Deed) (as of the immediately preceding Valuation Point)
of, the Class of which such Units relate are quoted, listed
or dealt in is not open for normal trading, the Managers
may determine that day shall not be a Dealing Day in
relation to Units of that Class
Dealing Deadline
The Deed
Duties and Charges
in relation to any particular place and any particular Dealing
Day, means 3.00 p.m. in that place or such other time of day as
the Managers may after consultation with the Trustee from
time to time determine
as defined in Paragraph 3.2 under the section headed Basic
Information in this Prospectus
all stamp and other duties, taxes, governmental charges,
brokerage, commissions, bank charges, transfer fees,
registration fees and other duties, taxes, charges and fees
whether in connection with:-
22

(a)
(b)
(c)
(d)
the constitution of the Sub-Fund Property;
the increase or decrease of the Sub-Fund Property;
the issue, sale, purchase or exchange of Units; or
the sale or purchase of Investments,
or otherwise, which may have become or may be payable in
respect of, prior to or upon the occasion of the transaction or
dealing in respect of which the same are payable, but does not
include any commission payable to agents on a sale or
purchase of Units
Euro
Holder
Initial Sales Charge
Investment
the lawful currency of the participating countries of the
European Union
in relation to a Unit, means the person for the time being
entered in the Register as the holder of that Unit and
includes persons so entered as joint holders
means a charge upon the issue of Units of such amount as the
Managers may from time to time determine generally or in
relation to any specific transaction for the Sub-Fund, being a
percentage of the Value per Unit, which shall not exceed the
maximum charge for the Sub-Fund as stated in this
Prospectus
any share, stock, bond, note, debenture, debenture stock,
warrant, option, securities, unit or sub-unit in a unit trust
scheme, participation in a mutual fund or similar scheme,
loan convertible into security, money market instrument,
loan, loan stock, certificate of deposits, commercial paper,
promissory notes, treasury bills, fixed and floating rate
instruments and security, bankers' acceptance, derivative
instruments including index future and forward currency
exchange contract or any other security which may be
selected by the Managers upon giving prior notification to the
Trustee for the purpose of investment of the Sub-Fund
Property
Issue Price - in relation to the initial issue of Units, shall be such
price per Unit as the Managers may determine
- in relation to the subsequent issue of Units, shall be
the price per Unit on any Dealing Day ascertained by
(i) calculating the Value per Unit as at the Valuation
Point in relation to that Dealing Day, (ii) adding to it
the Initial Sales Charge and appropriate Transactions
Adjustment and (iii) determining the resultant total
and adjusting the figure upwards to three decimal
places (or such other number of decimal places as
the Managers may from time to time determine with
the approval of the Trustee)
23

Management Fee
Minimum Holding
Month
Quoted Investment
Realisation Charge
Realisation Price
Recognised Market
the remuneration of the Managers being a percentage of the
Value of the Sub-Fund Property, which shall not exceed the
maximum fee stipulated in this Prospectus
means such number of Units or such aggregate value of Units
(based on the price at which the Units were subscribed for) as
the Managers may from time to time determine upon giving
prior notice to the Trustee
a calendar month
any Investment which is for the time being quoted on the
Singapore Exchange Securities Trading Limited (SGX-ST) or
the Singapore Exchange Securities Trading Dealing and
Automated Quotation System (SESDAQ) or quoted, listed or
dealt in on a Recognised Market outside Singapore
means a charge upon the realisation of Units of such amount
as the Managers may from time to time determine generally
or in relation to any specific transaction for the Sub-Fund,
being a percentage of the Value per Unit, which shall not
exceed the maximum charge for the Sub-Fund as stated in this
Prospectus
the price per Unit on any Dealing Day ascertained by (i)
calculating the Value per Unit as at the Valuation Point in
relation to that Dealing Day, (ii) deducting from it the
Realisation Charge and appropriate Transactions Adjustment
and (iii) determining the resultant total and adjusting the
figure downwards to three decimal places (or such other
number of decimal places as the Managers may from time to
time determine with the approval of the Trustee and upon
giving notice to the Holder if so required by the Trustee)
any stock exchange or over-the-counter market, any futures
exchange and any organised securities market which is open
to the public and on which securities are regularly traded,
being in each case an exchange or market in any part of the
world (including the Singapore Exchange Securities Trading
Limited (SGX-ST) and the Singapore Exchange Securities
Trading Dealing and Automated Quotation System
(SESDAQ)) and in relation to any particular Investment
includes any responsible firm, corporation or association in
any country in the world so dealing in the Investment as to
be expected generally to provide in the opinion of the
Managers a satisfactory market for the Investment and is
approved by the Trustee and in such case the Investment
shall be deemed to be the subject of an effective permission
to deal or be dealt in on the market deemed to be constituted
by such firm, corporation or association
24

Register
Relevant Participating
Bank
Relevant Participating
Distributor
Relevant Persons
RSP
Scheme
Securities and Futures Act
Singapore Dollars or S$
SRS
SRS Account
SRS Operator
Sub-Fund
Sub-Fund Property
the register of Holders of the Sub-Fund
any bank in Singapore which the Managers may, after giving
written notice to the Trustee, specify for the purpose of
Paragraph 8.2 of this Prospectus
any distributor in Singapore which the Managers may, after
giving written notice to the Trustee, appoint for the purpose of
Paragraph 8.3 of this Prospectus
the Managers, the Trustee, relevant authorities and any other
person to whom the Relevant Participating Bank or Relevant
Participating Distributor deems it necessary to disclose
information about an investor’s bank account for the purpose
of Paragraph 8.2 or 8.3 of this Prospectus
a regular savings plan
the Allianz Global Investors Premier Funds
the Securities and Futures Act (Cap. 289) of Singapore and the
regulations issued pursuant to it as they may be modified
from time to time
the lawful currency of the Republic of Singapore
the scheme referred to by the Ministry of Finance as the
Supplementary Retirement Scheme or such other scheme as
shall replace or supersede the Supplementary Retirement
Scheme from time to time
an account opened by an investor pursuant to the SRS with a
bank which has been approved as an SRS Operator by the
Ministry of Finance
the bank with which an investor has opened an SRS Account
the Global Internet Fund, a sub-fund of the Scheme
all of the assets for the time being comprised in the Sub-Fund
or deemed to be held upon the trusts of the Deed for account of
the Sub-Fund excluding any amount for the time being
standing to the credit of the distribution account of the Sub-
Fund as referred to in Clause 21.2 of the Deed
Transactions Adjustment - in relation to the issue of a Unit, an adjustment of up to
such amount (if any) as the Managers determine
represents the Duties and Charges which would have
been payable in purchasing the Investments
constituting the Sub-Fund Property as at the Valuation
Point divided by the number of Units of the Sub-Fund
issued and deemed to be in issue as at that time and
such amount shall not exceed such percentage as the
Managers and the Trustee may from time to time agree;
and
25

- in relation to the cancellation and realisation of a Unit,
an adjustment of up to such amount (if any) as the
Managers determine represents the Duties and
Charges which would have been payable in selling the
Investments constituting the Sub-Fund Property as at
the Valuation Point divided by the number of Units of
the Sub-Fund in issue and deemed to be in issue as at
that time which amount shall not exceed such
percentage as the Managers and the Trustee may from
time to time agree.
Trustee’s Fee
Unit
Unquoted Investment
US Dollars or USD
Valuation Point
Value
Year
the remuneration of the Trustee in relation to the Sub-Fund,
being a percentage of the Value of the Sub-Fund Property,
which shall not exceed the maximum fee stipulated in this
Prospectus
the nature of the interest issued to investors, being an
undivided share in the Sub-Fund Property which includes a
fraction of a Unit
any Investment which is not quoted, listed or dealt in on any
Recognised Market
the lawful currency of the United States of America
7.00 a.m. Singapore time on the Business Day immediately
following the relevant Dealing Day or such other time as may
be determined by the Managers with the approval of the
Trustee and in the event of any change in the Valuation Point,
the Managers shall notify the Holders of such change if
required by the Trustee
with reference to the Sub-Fund Property or part of the Sub-
Fund Property or any Investment comprised in it, its net asset
value or value determined in accordance with the provisions
of the Deed
a calendar year
26

Board of Directors of Allianz Global Investors Singapore Limited
Kwok Keng Han, Director Eric Lai, Director
Nikhil Srinivasan, Director Frank Klausfelder, Director
27

Allianz Global Investors Singapore Limited
6 Battery Road #28-01
Singapore 049909
Hotline: (1800) 438 0828
Fax: (65) 6311 8025
Email: marketing.SG@AllianzGI-ap.com
Website: www.AllianzGlobalInvestors.com.sg
Business Registration No: 199907169Z