External Investment Manager

ROLES AND RESPONSIBILITIES OF THE EXTERNAL INVESTMENT MANAGER
Pacific Mutual has appointed and entered into an investment management agreement with an external investment manager to manage the equity, equity-related and collective investment schemes portion of the Pacific AsiaPac Income Fund, Pacific Focus China Fund and Pacific Dynamic AsiaPac Fund (“the Funds”). The said external investment manager is Singapore-based Lion Global Investors Limited (formerly known as Lion Capital Management Limited) (“Lion Global Investors”), incorporated in Singapore on 22 August 1986 and licensed by the Monetary Authority of Singapore as a holder of Capital Markets Services Licence for Fund Management since 10 October 1990.

Lion Global Investors is responsible for managing in accordance with the investment objective of the Funds. Lion Global Investors has discretionary authority over the investment of the Funds subject to the Securities Commission Guidelines on Unit Trust Funds, the relevant securities laws, the internal procedures as well as the investment objectives of the Funds and the direction of the Investment Committee of the Funds. Lion Global Investors reports to the Investment Committee of the Funds on a regular basis on the status of the Funds’ portfolio, proposed investment strategies and discuss matters relating to the portfolios.

BACKGROUND OF THE EXTERNAL INVESTMENT MANAGER
Lion Global Investors, a member of the Oversea-Chinese Banking Corporation Limited (OCBC) Group, is one of the largest asset management companies in Southeast Asia, with total assets under management of S$42.5 billion (US$29.4 billion) as at 31 December 2016. Established as an Asian asset specialist since 1986, Lion Global Investors offers equities and fixed income funds to institutional and retail investors globally. It has one of the largest and most experienced investment teams dedicated to regional and global equities and fixed income markets, with 40 investment professionals with an average of 15 years of investment experience. The company’s commitment to investment excellence begins with a team-based and research-intensive approach, combining in-depth market insights with comprehensive sector knowledge.

Lion Global Investors is 70% owned by Great Eastern Holdings Limited and 30% owned by Orient Holdings Private Limited, a wholly-owned subsidiary of OCBC Bank.

Source: www.lionglobalinvestors.com/en/about-lgi/index.html 

About OCBC Bank
The OCBC Bank group of businesses comprises a family of companies owned by Singapore’s longest-established local bank. OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912.

Since the time of its founder, they have always understood the financial needs of their customers and developed financial solutions that meet their customers’ needs.

To address increasingly diverse needs across different communities and geographies, OCBC Bank has expanded and acquired businesses beyond the realm of commercial banking. OCBC has been ranked by Bloomberg Markets magazine as the ASEAN’s strongest bank and among the world’s five strongest banks for five consecutive years since the ranking’s inception in 2011.

The second-largest banking group in Singapore by total assets
The Group operates its banking business as OCBC Bank, Bank OCBC NISP and Bank of Singapore in over 18 countries and territories, and has strategic stakes in other financial services businesses operating under independent brands:
•   Insurance: Great Eastern
•   Asset management: Lion Global Investors
•   Brokerage: OCBC Securities and OCBC Sekuritas

Global Banking
Through these businesses, the Group offers a comprehensive range of specialist financial and wealth management services, including deposit-taking and personal lending, credit cards, corporate and enterprise banking, cash management, international trade financing, investment banking, private banking, treasury, stockbroking, insurance and asset management.

The Group is listed on the SGX-ST as one of the largest listed companies in Singapore by market capitalisation. The Group is also one of the largest listed banks in South East Asia by market capitalisation and have more than 29,000 employees globally.

Source: www.ocbc.com/group/who-we-are/group-business.html

For more information, please visit www.ocbc.com

About Great Eastern Holdings Limited
Founded in 1908, Great Eastern is the oldest and most established life insurance group in Singapore and Malaysia. With S$60 billion in assets and around 4.7 million policyholders, it has three successful distribution channels – a tied agency force, bancassurance and a financial advisory firm, Great Eastern Financial Advisers.

The Group also operates in Indonesia and Brunei and has a presence in China as well as a representative office in Myanmar. Great Eastern Life Assurance Company Limited has been assigned the financial strength and counterparty credit ratings of ‘AA-’ by Standard & Poor's since 2010, one of the highest among Asian life insurance companies. It was named Life Insurance Company of the Year at the Asia Insurance Industry Awards 2011 and 2013 by Asia Insurance Review.

Source: https://www.greateasternlife.com/sg/en/about-us/company-profile/a-trusted-name-in-insurance.html

For more information, please visit www.greateasternlife.com

KEY MEMBERS OF THE EXTERNAL INVESTMENT MANAGEMENT TEAM
The key members of the external investment team for the Pacific AsiaPac Income Fund, Pacific Focus China Fund and Pacific Dynamic AsiaPac Fund are:

•    Janice Lim (Head of Asian Equities, North Asia and designated person responsible for the investment management of the Pacific Focus China Fund [equity portion])
    Janice Lim is Head of Asia Equities, North Asia and manages the portfolios for Greater China and Korea at Lion Global Investors. Janice has 22 years of experience in the fund management industry. Prior to joining Lion Global Investors (LGI), she was with DBS Asset Management where she managed regional mandates and Asia-biased discretionary absolute return mandates for institutional clients and Whitefield Capital Management where she co-managed a South Korean dedicated country fund. Before that, she spent more than seven years with the OCBC Group where her last appointment was with LGI as the market specialist for South Korean and Taiwanese equities. She was also the lead portfolio manager for a number of Far East (ex-Japan) and Asia technology mandates. She graduated with a Bachelor of Science degree from the National University of Singapore with majors in Economics and Mathematics as well as a minor in Computer Programming and Applications.

  Frank Lim (Senior Portfolio Manager and designated person responsible for the investment management of the Pacific Dynamic AsiaPac Fund)
    Frank Lim is a Senior Portfolio Manager of the Multi-Asset Strategies (MAS) team at Lion Global Investors. He has 21 years of financial industry experience. He has held senior portfolio management roles since joining the firm in May 2006. He was previously the Head of US/European Equities. He is experienced in portfolio management of various asset classes, including global equities, fixed income and derivatives. He was a senior portfolio manager and global financial sector specialist at UOB Asset Management from 1995 to 2000, an associate director in equity sales at Exane SA from 2001 to April 2006. Frank holds a Master of Applied Finance from Macquarie University, graduated with a Bachelor of Engineering (First Class Honours) from the National University of Singapore in 1992 and has held the Chartered Financial Analyst® (CFA) designation since 1998. He is fluent in both English and Mandarin.

  Lim Fang Suan (Senior Fund Manager and designated person responsible for the investment management of the Pacific AsiaPac Income Fund [equity portion])
    Lim Fang Suan is a Senior Fund Manager of the Asian equities team at Lion Global Investors. He is the lead manager for the Asia Pacific (ex-Japan) High Dividend Yield portfolio as well as other regional mandates such as Asia Pacific Shariah and Far East (ex-Japan). Previously, he was the lead manager for the ASEAN equity strategy and the country specialist for Thailand and Vietnam. Fang Suan has over 20 years of investment experience covering Asian equities. Prior to joining Lion Global Investors in 2007, Fang Suan was a director at AGF Asset Management Asia with responsibilities in investment management. He has also held senior investment management roles at NTUC Income Insurance Co-Operative, SG Asset Management (Singapore), Nomura Asset Management, Singapore and UOB Asset Management. Fang Suan graduated with a Bachelor in Electrical Engineering with Honours from the National University of Singapore and holds the Chartered Financial Analyst® (CFA) designation.