ProsPectus - Nikko AM Asia Limited

FIRST SUPPLEMENTARY PROSPECTUS DATED 16 DECEMBER 2013
(a)
(b)
(c)
(d)
(e)
(f)
deposits placed with banks or other financial institutions in or outside Singapore, shall be determined by
reference to the face value of such deposits and the accrued interest thereon for the relevant period;
certificates of deposit acquired at their nominal value shall be valued at cost plus accrued interest from
the date of their acquisition on the nominal value at the coupon rate;
shares in any FR Fund 13 shall be valued at the latest quoted net asset value per share as valued by the
issuer thereof PROVIDED THAT if such latest quoted net asset value is not available or if the Managers
do not consider such value to be appropriate, such Authorised Investments shall be valued at such
amount as in the opinion of the Managers with the Trustee's approval gives a fair criterion at the
relevant time;
Unquoted Securities shall be the fair value of the Unquoted Securities determined with due care and in
good faith by an approved valuer approved by the Trustee as qualified to value such Unquoted
Securities and the Managers shall document the basis for determining the price of the Unquoted
Securities. The fair value should be the price that the Trust would reasonably expect to receive upon the
current sale of the Unquoted Securities;
Quoted Securities shall be valued based on the official closing price or last know transacted price on the
organised market on which the Quoted Securities are quoted; or the transacted price on the organised
market on which the Quoted Securities are quoted at a cut-off time specified in the Trust's prospectus
and applied constantly by the Managers; or in accordance with a method to be mutually agreed
between the Trustee and the Managers; and
any other Authorised Investments shall be valued in such manner and at such time or times as the
Managers and the Trustee shall from time to time agree;
Provided That, if the quotations referred to in sub-paragraph (e) are not available, or if the value of Authorised
Investments determined in the manner described in the sub-paragraphs above (other than sub-paragraphs (d)
and (f)), in the opinion of the Managers, do not represent a fair value of such Authorised Investment, then the
Value shall be any reasonable value as may be determined by the Managers and approved by the Trustee.”.
13 "FR Fund" means (i) any unit trust or mutual fund or investment corporation managed or advised by an FR Company
including the Existing Frank Russell Funds and any successor schemes thereto (ii) any sub-fund of the Nikko AM Shenton
Horizon Investment Funds and (iii) with the approval of the Trustee and the relevant authorities (if applicable), such other trust
schemes or mutual funds which are managed or advised by an FR Company or the Managers or any Associate of the
Managers. "FR Company" means Russell Investments, a corporation organised under the laws of the State of Washington,
USA and its related corporations (including Frank Russell Investments (Ireland) Limited);
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