Press Release Nikko AM Asia appoints new President

Ms Seet replaces Deborah Ho, who has served as Chief Executive Officer of DBS AssetManagement Ltd (“DBSAM”) for the past four years.Commenting on Ms Ho’s departure, Mr Pickerell said: “Deborah has played animportant role in the development of DBSAM in recent years and was instrumental inbringing together Nikko AM and DBSAM. We would like to thank her for her leadershipof DBSAM and wish her well.”Nikko AM Asia has also appointed two other industry veterans to support the growth ofthe firm.Teck Keng Neo has been appointed as Head of Middle and Back Office at Nikko AMAsia. In this role, he will oversee Nikko AM Asia’s Operations, Fund Accounting, Finance,Information Technology, Middle Office and Administrative functions. He will transfer toSingapore from his role as Head of Operations and Disclosure Division at Nikko AM’sTokyo headquarters. Prior to joining Nikko AM in 2005, he spent 11 years at FidelityInvestments Japan Limited, where he oversaw the operational processes and ITsystems.Rodney Lim has been appointed as Head of Compliance at Nikko AM Asia. He joinsfrom UBS Global Asset Management, where he was responsible for compliance. Prior tojoining UBS, he worked at Citi Global Wealth Management and PriceWaterhouseCoopers.About Nikko AM###Nikko Asset Management Group (“Nikko AM”) is the largest regional asset management companyheadquartered in Asia. With the addition of DBSAM, Nikko AM’s total assets under managementis over US$165 billion.Established in 1959 and with its head office in Tokyo, Nikko AM is one of the largest assetmanagement companies in Japan, with its investment products sold by over 200 distributors. Thecompany also has offices in London, New York, Singapore, Hong Kong, Sydney, Melbourne,Brisbane and Auckland. Nikko AM holds a 40% stake in Rongtong Fund Management Co., Ltd, ajoint venture investment management company in China.2