Y16126 272996 GE Greatlink-Txt.indd - Great Eastern Life

MICA (P) 119/01/2012
Semi-Annual Statement and Report for
the Period 1 January 2012 – 30 June 2012

contents
c o n t e n t s
CEO’s Message 1
Investment Outlook 2
Announcement 5
Disclaimer 6
Lifestyle Portfolios 7
Balanced 13
Global Equity 17
Asian Equity 24
Non-Equity 33
Others 36
Funds Information 48
Soft Dollar Commissions 106
Capital Account 108
Statement Of Assets & Liabilities 113
Notes To The Accounts 118
The Great Eastern Life Assurance Company Limited (Reg. No. 1908 00011G)
1 Pickering Street #13-01 Great Eastern Centre Singapore 048659
www.greateasternlife.com

CEO’S MESSAGE
Dear Valued Policyholder
The fi rst half of 2012 has been a challenging time. Uncertainty over the outlook of US and
China and fi scal problems in the euro zone contributed to market volatility worldwide.
However, rate cuts by the central banks in Europe and China and the extension of monetary
easing by US signal that policymakers are taking concerted and decisive actions to boost
confi dence. Despite market volatility, our GreatLink funds were fairly resilient.
For the fi rst half of 2012, majority of our funds rode out the turbulence and emerged with
positive absolute performances. Bond funds benefi ted for their relative security. Equity
funds were boosted by investments into well-managed companies.
The road ahead may remain bumpy but rest assured that we will work together with
the fund managers to maximize your investment returns. We will continue our strategy
to focus on the long-term aspects of the markets, seek actively for attractively priced
opportunities, and invest in fundamentally strong companies with sustainable earnings
potential. Together, we can reap the rewards of sound investment principles.
I thank you for your continued support.
Yours faithfully
Dr Khoo Kah Siang
CEO (Singapore)
Great Eastern Life Assurance Co. Ltd.
For disclaimers, please refer to page 4.
CEO’s Message
1

INVESTMENT OUTLOOK
Investment Outlook
Last year, some were hopeful that early 2012 would see better times. However,
it seems like better times have to be postponed. China’s growth is slowing
(albeit no hard-landing as envisaged by the IMF), while the US and euro zone
economies have yet to pull up their socks.
The International Monetary Fund has announced that it will trim global growth
forecasts 1 . There are investors who are concerned if we are headed for yet
another recession. Others are in the opinion that this is just a soft patch. Let us
take a closer look at the prospects of the various economic zones.
Europe
Like a fl u that won’t go away, the euro crisis that has burdened the region and
the world for over two years still lingers on. In recent months, trouble in euro
zone took centre stage.
The days leading up to the Greek election was unnerving for many. There was
a sense of relief after the election and equity markets rebounded. However, the
exuberance was short-lived as fresh fears over Spain’s debts brewed.
Even Germany, euro zone’s biggest and strongest economy, may not be immune
to the tremors of the euro zone crisis. It is showing signs of slowdown.
There is however a glimmer of hope. The newly elected Greek coalition
government has received a vote of confi dence to implement austerity measures
to tackle the debt crisis, and it reaffi rmed its determination to keep the country
in euro zone.
Investment Outlook
2
Even as policymakers attempt to turn things around, there is no quick-fi x
solution. The structural problems in the euro zone economy are deep-seated.
Although it will be much longer before there is a sustained recovery, growth is
expected to pick up (tentatively) in the second half of the year.
US
Growth is still anemic in the US. There are no clear signs on where the economy
is headed. June 2012 economic data is a mixed bag. Manufacturing PMI shrank
for the fi rst time in three years. Both retail sales and employment were weak.
Nonetheless, the bright spot in the job market is the total hours worked hit
its highest level since November 2008 2 . Temporary employment also showed
a signifi cant rise. From these indicators, it can be deduced that there is an

INVESTMENT OUTLOOK
increase in business activity but employers may not have a sense of stability
just yet to step up recruitment of full-time staff. Fears of US economy stalling
or slipping into a recession may therefore be unfounded. Instead, we may most
likely see tepid growth for the rest of the year.
Asia
Investors are keeping a close watch on China’s growth. Some are concerned that
the world’s second largest economy is heading for a hard-landing. When China
unexpectedly lowered benchmark interest rates twice in less than a month, it
was interpreted by investors that growth has slowed sharply and that China is
stepping up efforts to reverse a slowdown.
Indeed China is slowing but there is little or no risk of a hard landing. Infl ation
is easing, giving policymakers the leeway to deliver more measures to spur
growth. A Reuters poll of analysts forecast that China’s GDP will grow 8.2% 3 , low
by China’s standard but a growth rate that most other countries can only envy.
Like other emerging markets, the once red-hot Indian economy is also not
spared from the effects of developments in the west. Its growth of 5.3% 4 in fi rst
quarter is the weakest in 9 years.
Among the Asian countries, Hong Kong and Singapore are probably in the best
shape, with large fi scal surpluses and foreign reserves. But they may also
be most vulnerable as they are highly trade-dependent economies. Moody’s
assessment 5 of Singapore is that despite the challenges, Singapore’s sound
fi nancial system remains resilient to shocks.
Asian economies are unlikely to repeat growth rates of the past decade as
they face up to the pressures of reduced demand from the US and euro zone.
Nevertheless, they are defi nitely fi nancially and structurally more robust and
have greater growth potential as compared to the west.
Stocks, Bonds or Cash
Stocks
The equity environment remains volatile. Nonetheless, there is ample liquidity
while valuations have reached attractive levels by historical standards. This
should provide a fl oor to equity market performance.
Investment Outlook
3

INVESTMENT OUTLOOK
There is however no way to perfectly time the market. Investors can expect
choppy waters ahead and markets may dip further. The dips will present
investors with buying opportunities. This is when investors can dollar-cost
average in and steadily builds up an equity portfolio of steadfast companies
with strong earnings potential.
Bonds
Given the volatile stock environment, many investors have increasingly turned
to the relative security of bonds. As such, bonds performed relatively well in the
fi rst half of 2012.
Interest rates offered on most investment grade bonds are now at historical low
levels. Equity is evidently more attractive in terms of valuations.
Cash
Against this backdrop of uncertainty, some investors have taken the opportunity
to pick up stocks at bargain prices while others sought security in cash.
If you are unsure how best to invest in the current volatile market, you may
well want to sit on hard cash for a while. However, do be wary that you should
not do that for too long. Speak to your Distribution Representative who will be
able to give some guidance on how best to manage your hard earned money
so that you can attain your fi nancial goals against this backdrop of economic
unpredictability.
1
Source: “http://www.reuters.com/article/2012/07/16/us-imf-global-idUSBRE86F0JI20120716”
2
Source: “Dismal hiring shows economy stuck in low gear”, 6 July 2012, Reuters
3
Source: “China will recover, but slowly”, 10 June 2012, The Straits Times
4
Source: “India’s growth weakest in 9 years”, 1 June 2012, The Straits Times
5
Source: “S’pore resilient to global shocks”, 20 June 2012, The Straits Times
Investment Outlook
4
Disclaimer: The report is accurate at time of writing on 9 July 2012. Past
performance is not necessarily indicative of future performances. Any opinion or
view presented is subject to change without notice. The document is intended
for information purposes only, and is not intended as an offer or solicitation for
the purchase or sale of any fi nancial instrument.
The information provided may contain projections or other forward looking
statements regarding future events or future fi nancial performance of countries,
markets or companies, and such prediction or forecast is not necessarily
indicative of the future or likely performance of the fund.

ANNOUNCEMENT
Going Green
In our continuous efforts to Go Green and protect our environment, we would like
to take this opportunity to inform policyholders that from August 2012, printed
copies of the GreatLink Funds Report will be sent out only upon request. You
are encouraged to download the soft copy report from our corporate website at
www.greateasternlife.com/greatlinkfundsreport.
Should you wish to continue receiving a printed copy of the report via mail,
please contact our Customer Service Offi cers on 1800 248 2888 or email us at
wecare-sg@greateasternlife.com.
We look forward to your support in our Go Green efforts.
Custodian Fee
In our efforts to centralise the administration of funds, effective 16 April 2012, the
annualised custodian fee to be levied for all GreatLink Feeder Funds is at 0.022%.
The list of GreatLink Feeder Funds will include:
GreatLink European Equity Fund GreatLink Lion Japan Growth Fund
GreatLink Global Growth Trends Portfolio GreatLink Lion India Fund
GreatLink Global Opportunities Fund GreatLink Lion Global Flexi Fund
GreatLink Global Equity Alpha Fund GreatLink Lion Asian Balanced Fund
GreatLink Stable Bond Fund
GreatLink Lion Vietnam Fund
In the case of GreatLink Lifestyle Portfolios:
Fund of Funds (Lifestyle Portfolios) Custodian Fee (per annum)
GreatLink Lifestyle Secure Portfolio 0.0160%*
GreatLink Lifestyle Steady Portfolio 0.0170%*
GreatLink Lifestyle Balanced Portfolio 0.0185%*
GreatLink Lifestyle Progressive Portfolio 0.0200%*
GreatLink Lifestyle Dynamic Portfolio 0.0220%*
*This is a weighted average custodian fee which can be used as an indicative
custodian fee for the Lifestyle Portfolios. The actual custodian fee for each
Lifestyle Portfolio will depend on the asset proportion and custodian fees of the
underlying funds that the Lifestyle Portfolio feeds into.
The custodian fee may be reviewed from time to time.
Announcement
5

Fund Factsheet
Fund Factsheet Disclaimer
6
This disclaimer applies to the fund factsheets that follow.
DISCLAIMER: This factsheet is compiled by Great Eastern Life. The information presented is
for informational use only. A product summary and a Product Highlights Sheet in relation to
the Fund may be obtained through Great Eastern Life Assurance Co Ltd, its Life Planners or
any of its appointed distributors. Potential investors should read the product summary and the
Product Highlights Sheet before deciding whether to invest in the Fund. Returns on the units
of the Fund are not guaranteed. The value of the units in the Fund and the income accruing to
the units, if any, may fall or rise. The fees and charges payable through deduction of premium
or cancellation of units are excluded in the calculation of fund returns. Past returns, and any
other economic or market predictions, projections or forecasts, are not necessarily indicative
of future or likely performance.

Lifestyle Portfolios
GREATLINK LIFESTYLE PORTFOLIOS report as at 30 June 2012
INVESTMENT OBJECTIVE
The investment objectives of the 5 Lifestyle Portfolios are
to achieve medium to long term capital appreciation for the
investor. The investment policies for the GreatLink Lifestyle
Secure Portfolio, GreatLink Lifestyle Steady Portfolio,
GreatLink Lifestyle Balanced Portfolio, and GreatLink
Lifestyle Progressive Portfolio are to invest the assets of
each of these Lifestyle Portfolios in equities and bonds in
the proportion of approximately 20:80, 40:60, 60:40, 80:20
respectively. The investment policy for GreatLink Lifestyle
Dynamic Portfolio is to invest the assets only in equities
(or in one or more different mutual fund(s) and unit trust(s)
refl ecting an underlying investment in equities). A separate
portfolio account is maintained for each Lifestyle Portfolio
which is invested in accordance with the investment
objective applicable to the Lifestyle Portfolio to which such
portfolio relates.
FUND FACTS
Inception Date 25 March 2002
Fund Manager
Lion Global Investors Ltd
Currency of Fund Singapore Dollar
Valuation Frequency Daily
Bid–Offer Spread 5%
Fund Management Fee Dynamic 1.55% p.a. ^
Progressive 1.41% p.a. ^
Balanced 1.25% p.a. ^
Steady 1.10% p.a. ^
Secure 0.92% p.a. ^
^ These are weighted average fund management charge which
could be used as an indicative fund management charge for the
Lifestyle Funds
Each individual Lifestyle Fund is invested in some of the
underlying GreatLink Funds as shown in the table below.
However, the asset proportion may vary, depending on
market conditions.
GREATLINK LIFESTYLE PORTFOLIOS (ASSET ALLOCATION)
GreatLink Constituent Funds Secure Steady Balanced Progressive Dynamic
GreatLink Stable Bond Fund 20% 10% 5% 0% 0%
GreatLink Global Bond Fund 60% 50% 35% 20% 0%
GreatLink Global Equity Alpha Fund 5% 10% 15% 20% 25%
GreatLink Global Opportunities Fund 5% 10% 15% 20% 25%
GreatLink Enhancer Fund 5% 10% 15% 20% 25%
GreatLink ASEAN Growth Fund 5% 10% 15% 20% 25%
Source: Great Eastern Life
For disclaimer, please refer to page 6. 7

GREATLINK LIFESTYLE PORTFOLIOS report as at 30 June 2012
DYNAMIC
FUND FACTS
PORTFOLIO WEIGHTINGS
Offer Price S$ 1.010
Bid Price S$ 0.960
Fund Size
S$ 19.30 mil
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Broadly Diversifi ed
Benchmark
Composite of Underlying
Funds’ Benchmarks
Morningstar Rating
PORTFOLIO PERFORMANCE SINCE INCEPTION
Lifestyle Portfolios
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
10 years 10 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink Lifestyle Dynamic Portfolio -4.95 2.89 -6.52 9.71 3.14 -35.74 -8.47 15.80 1.48 1.05 0.10
Benchmark -4.43 4.18 -3.23 21.49 6.70 -23.09 -5.12 46.77 3.91 28.84 2.50
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
8
For disclaimer, please refer to page 6.

GREATLINK LIFESTYLE PORTFOLIOS report as at 30 June 2012
PROGRESSIVE
FUND FACTS
PORTFOLIO WEIGHTINGS
Offer Price S$ 1.244
Bid Price S$ 1.182
Fund Size
S$ 52.28 mil
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Broadly Diversifi ed
Benchmark
Composite of Underlying
Funds’ Benchmarks
Morningstar Rating
PORTFOLIO PERFORMANCE SINCE INCEPTION
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
10 years 10 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink Lifestyle Progressive Portfolio -3.19 2.78 -3.35 12.79 4.09 -22.13 -4.88 36.18 3.14 24.42 2.15
Benchmark -3.22 3.61 -1.13 21.05 6.57 -12.57 -2.65 56.19 4.56 42.04 3.48
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Lifestyle Portfolios
For disclaimer, please refer to page 6. 9

GREATLINK LIFESTYLE PORTFOLIOS report as at 30 June 2012
BALANCED
FUND FACTS
PORTFOLIO WEIGHTINGS
Offer Price S$ 1.301
Bid Price S$ 1.236
Fund Size
S$ 368.97 mil
CPFIS Included
CPFIS - OA & SA
Risk Category Medium to High Risk /
Broadly Diversifi ed
Benchmark
Composite of Underlying
Funds’ Benchmarks
Morningstar Rating
PORTFOLIO PERFORMANCE SINCE INCEPTION
Lifestyle Portfolios
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
10 years 10 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink Lifestyle Balanced Portfolio -1.75 2.66 -0.72 13.81 4.41 -11.78 -2.47 38.57 3.32 30.11 2.60
Benchmark -2.10 2.96 0.59 17.89 5.64 -5.55 -1.14 50.61 4.18 41.41 3.43
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
10
For disclaimer, please refer to page 6.

GREATLINK LIFESTYLE PORTFOLIOS report as at 30 June 2012
STEADY
FUND FACTS
PORTFOLIO WEIGHTINGS
Offer Price S$ 1.344
Bid Price S$ 1.277
Fund Size
S$ 29.34 mil
CPFIS Included
CPFIS - OA & SA
Risk Category Medium to High Risk /
Broadly Diversifi ed
Benchmark
Composite of Underlying
Funds’ Benchmarks
Morningstar Rating
PORTFOLIO PERFORMANCE SINCE INCEPTION
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
10 years 10 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink Lifestyle Steady Portfolio -0.39 2.49 2.00 14.94 4.75 0.08 0.02 39.11 3.36 34.42 2.92
Benchmark -0.99 2.27 2.21 14.52 4.62 1.17 0.23 43.53 3.68 39.08 3.26
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Lifestyle Portfolios
For disclaimer, please refer to page 6.
11

GREATLINK LIFESTYLE PORTFOLIOS report as at 30 June 2012
SECURE
FUND FACTS
PORTFOLIO WEIGHTINGS
Offer Price S$ 1.495
Bid Price S$ 1.421
Fund Size
S$ 57.49 mil
CPFIS Included
CPFIS - OA & SA
Risk Category Medium to High Risk /
Broadly Diversifi ed
Benchmark
Composite of Underlying
Funds’ Benchmarks
Morningstar Rating
PORTFOLIO PERFORMANCE SINCE INCEPTION
Lifestyle Portfolios
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
10 years 10 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink Lifestyle Secure Portfolio 0.85 2.23 4.18 16.57 5.24 15.25 2.88 49.11 4.08 49.58 4.00
Benchmark 0.04 1.51 3.44 12.19 3.91 10.90 2.09 44.82 3.77 44.64 3.66
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
12
For disclaimer, please refer to page 6.

GREATLINK GLOBAL SUPREME FUND report as at 30 June 2012
FUND FACTS
Inception Date 1 July 1999
Offer Price S$ 1.283
Bid Price S$ 1.219
Fund Size
S$ 342.63 mil
Fund Manager
Sub Manager (Equity)
Lion Global Investors Ltd
Capital International,
Acadian Asset
Management, INTECH
Sub Manager (F.I.) PIMCO, Brandywine
Bid-Offer Spread 5%
Fund Management Fee 1.35% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS – OA & SA
Risk Category Medium to High Risk /
Broadly Diversifi ed
Benchmark
50% MSCI World Net &
50% Citigroup World Gov
Bond Index (unhedged)
Morningstar Rating
FUND OBJECTIVE
The Fund objective is to maximize total returns in Singapore
Dollar terms over the longer term by investing in a balanced
but diversifi ed portfolio of equities and debt securities of the
major stock markets and bond markets around the world. The
Fund shall invest in a broad mix of global equities and bonds in
a wide range of industries and companies in various countries.
The allocation for each asset class will be actively managed
and altered constantly in such a way that seeks to maximize
the overall risk-adjusted performance of the Fund.
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
10 years 10 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink Global Supreme Fund -0.08 1.75 4.10 16.10 5.10 -2.56 -0.52 29.13 2.59 28.32 1.94
Benchmark -1.26 0.94 2.43 11.81 3.79 -5.89 -1.21 33.18 2.91 29.94 2.03
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Balanced Funds
For disclaimer, please refer to page 6.
13

GREATLINK GLOBAL OPTIMUM FUND report as at 30 June 2012
FUND FACTS
Inception Date 23 May 2001
Offer Price S$ 0.998
Bid Price S$ 0.949
Fund Size
S$ 37.26 mil
Fund Manager
Lion Global Investors Ltd
Sub Manager (Equity) AllianceBernstein
(Singapore) Ltd.
Sub Manager (F.I.) Loomis, Sayles &
Company, L.P.
Bid-Offer Spread 5%
Fund Management Fee 1.35% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA & SA
Risk Category Medium to High Risk /
Broadly Diversifi ed
Benchmark
40% MSCI World, net
& 60% Citigroup World
Government Bond Index
(unhedged) ^
Morningstar Rating
FUND OBJECTIVE
The Fund objective is to provide long-term total return in
excess of the custom benchmark while managing the overall
risk of the portfolio. (40% MSCI World (unhedged) and 60%
Citigroup Global Govt Bond Index (unhedged)).
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
Balanced Funds
14
^ Benchmark: 40% MSCI World, gross & 60% Citigroup World Government Bond Index, unhedged from launch till 14 May 2007, 40% MSCI
World, net & 60% Citigroup World Government Bond Index, unhedged wef 15 May 2007.
For disclaimer, please refer to page 6.
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink Global Optimum Fund -2.16 0.21 -1.25 3.60 1.19 -16.09 -3.45 5.21 0.51 0.00 0.00
Benchmark -0.66 0.40 3.21 10.04 3.24 -1.15 -0.23 36.31 3.15 31.37 2.49
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.

GREATLINK LION GLOBAL FLEXI FUND report as at 30 June 2012
FUND FACTS
Inception Date 24 July 2007
Offer Price S$ 0.800
Bid Price S$ 0.760
Fund Size
S$ 5.68 mil
(Underlying Fund Size) S$ 9.0 mil
Underlying Fund
LionGlobal Flexi Fund
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.35% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
N.A.
Risk Category Medium to High Risk /
Broadly Diversifi ed
Benchmark 12-months SIBID + 2.5%
Morningstar Rating N.A.
FUND OBJECTIVE
The investment objective of the Fund is to achieve absolute
returns over the medium to long term. The Managers will
invest the assets of the Fund in a diversifi ed portfolio of
equities, money market securities, asset-backed securities,
equity-related securities (including, but not limited to,
preference shares, real estate investment trusts, deposited
receipts), fi xed income instruments, other debtrelated
instruments such as collateralized debt obligations. There is
no target sector, industry or geography. A portion of the asset
of the Fund may be invested in other collective investment
schemes. The Managers may also invest up to 10% of
the assets of the Fund in hedge funds or fund of hedge
funds that are domiciled either in Singapore or outside of
Singapore. The Managers may invest the assets of the Fund
in fi nancial derivative instruments. This Fund invests all or
substantially into the LionGlobal Flexi Fund managed by Lion
Global Investors Limited.
PORTFOLIO WEIGHTINGS*
PORTFOLIO PERFORMANCE SINCE INCEPTION
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink Lion Global Flexi Fund -1.55 2.01 -4.16 0.00 0.00 NA NA -20.00 -4.42
Benchmark 0.69 1.39 2.83 9.05 2.93 NA NA 17.51 3.32
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Balanced Funds
* Information relates to LionGlobal Flexi Fund
For disclaimer, please refer to page 6.
15

GREATLINK LION ASIAN BALANCED FUND report as at 30 June 2012
FUND FACTS
Inception Date 1 February 2008
Offer Price S$ 0.951
Bid Price S$ 0.904
Fund Size
S$ 75.60 million
Underlying Funds
(Underlying Fund Size)
LionGlobal Asia Pacific Fund
(S$ 63.4 million)
LionGlobal Singapore
Fixed Income Investment
(S$ 241.5 million)
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.35% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA & SA
Risk Category Medium to High Risk /
Narrowly Focused
Benchmark
50% MSCI All Countries
Asia Pacifi c ex Japan
Index (Net) + 50% JP
Morgan Singapore
Government Bond Index
Morningstar Rating
FUND OBJECTIVE
The Fund objective is to provide long-term total returns
consistently in excess of the custom benchmark while
managing the overall risk of the portfolio by investing into the
equity markets of Asia Pacifi c (ex Japan) as well as primarily
in bonds and other debt securities denominated in Singapore
Dollars, through LionGlobal Asia Pacifi c Fund and LionGlobal
Singapore Fixed Income Investment respectively.
PORTFOLIO WEIGHTINGS *
PORTFOLIO PERFORMANCE SINCE INCEPTION
Balanced Funds
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink Lion Asian Balanced Fund -2.48 1.57 -6.22 5.73 1.87 NA NA -4.84 -1.12
Benchmark -2.12 2.62 -1.96 17.77 5.60 NA NA 6.07 1.34
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
16
* Information refers to LionGlobal Asia Pacifi c Fund and LionGlobal Singapore Fixed Income Investment.
For disclaimer, please refer to page 6.

GREATLINK GLOBAL EQUITY FUND report as at 30 June 2012
FUND FACTS
Inception Date 1 August 2000
Offer Price S$ 0.570
Bid Price S$ 0.542
Fund Size
Fund Manager
S$ 42.85 mil
Goldman Sachs
(Singapore) Pte. Ltd. *
Bid-Offer Spread 5%
Fund Management Fee 1.60% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS – OA ^
Risk Category Higher Risk /
Broadly Diversifi ed
Benchmark
MSCI World Index, Net
Morningstar Rating
FUND OBJECTIVE
The Fund objective is to seek long-term capital appreciation
by investing primarily in a diversifi ed portfolio of common
stocks globally.
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
* With effect from 1 June 2011, Goldman Sachs (Singapore) Pte. Ltd. has been elevated to Fund Manager for this fund.
^ We are unable to accept new CPF monies for the fund with effect from 22 December 2010.
For disclaimer, please refer to page 6.
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink Global Equity Fund -4.07 3.83 -4.91 17.06 5.39 -35.40 -8.37 -8.60 -0.90 -42.95 -4.60
Benchmark -4.35 3.47 -1.95 19.62 6.15 -28.71 -6.55 18.81 1.74 -15.81 -1.43
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Global Equity
17

GREATLINK GLOBAL OPPORTUNITIES FUND report as at 30 June 2012
FUND FACTS
Inception Date 25 March 2002
Offer Price S$ 0.849
Bid Price S$ 0.807
Fund Size
S$ 83.96 mil
(Underlying Fund Size)
Fund Manager
S$ 4.5 bn
Aberdeen Asset
Management Asia Ltd
(“Aberdeen”)
Bid-Offer Spread 5%
Fund Management Fee 1.60% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Broadly Diversifi ed
Benchmark
MSCI World Index
with Gross Dividends
Reinvested ^
Morningstar Rating
FUND OBJECTIVE
This Fund invests all or substantially all into the SGD class
of the Aberdeen Global Opportunities Fund managed by
Aberdeen Asset Management Asia Limited. The Aberdeen
Global Opportunities Fund aims to provide long-term
total return from an internationally diversifi ed portfolio of
securities through investing all or substantially all of its assets
in the Aberdeen Global – World Equity Fund *, a subfund of
Luxembourg-registered Aberdeen Global, which will invest
at least two-thirds of its assets in equities or equity-related
securities. The country of domicile of the underlying fund
is Singapore. The base currency of the underlying fund is
Singapore dollars.
PORTFOLIO WEIGHTINGS *
PORTFOLIO PERFORMANCE SINCE INCEPTION
Global Equity
18
* Information relates to Aberdeen Global Opportunities Fund
^ Benchmark: MSCI World Index with Net Dividends Reinvested from launch till 22 Nov 2010, MSCI World Index, gross dividends reinvested
w.e.f. 23 Nov 2010
For disclaimer, please refer to page 6.
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink Global Opportunities Fund -4.16 1.13 -0.25 18.16 5.72 -33.58 -7.86 0.12 0.01 -15.05 -1.58
Benchmark -4.14 3.84 -1.36 20.76 6.49 -28.03 -6.37 19.94 1.84 4.86 0.46
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.

GREATLINK GLOBAL GROWTH TRENDS PORTFOLIO report as at 30 June 2012
FUND FACTS
Inception Date 15 August 2001
Offer Price S$ 0.807
Bid Price S$ 0.767
Fund Size
S$ 13.52 mil
(Underlying Fund Size) US$ 781.93 mil
Underlying Fund
Luxembourg Global
Growth Trends Portfolio
Fund Manager
AllianceBernstein
(Singapore) Ltd.
Bid-Offer Spread 5%
Fund Management Fee 1.60% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Broadly Diversifi ed
Benchmark
MSCI World Index with
Net Dividends Reinvested
Morningstar Rating
FUND OBJECTIVE
The investment objective of the Fund is to seek long-term
growth of capital by investing principally in a global portfolio
of equity securities. This Fund invests all or substantially
into Luxembourg-registered AllianceBernstein Global
Growth Trends (“GGTP”), managed by AllianceBernstein
L.P. (the “Investment Manager”). The country of domicile
of the underlying fund is Luxembourg. AB Global Growth
Trends currently consists of four sub-portfolios: Technology,
Consumer, Industrial Cyclicals and Financials.
PORTFOLIO WEIGHTINGS *
PORTFOLIO PERFORMANCE SINCE INCEPTION
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink Global Growth Trends -7.81 2.82 -6.23 6.68 2.18 -47.86 -12.21 -14.78 -1.59 -19.26 -1.95
Benchmark -4.35 3.47 -1.95 19.62 6.15 -28.71 -6.55 18.81 1.74 3.58 0.32
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Global Equity
* Information refers to AllianceBernstein – Global Growth Trends Portfolio (“Luxembourg GGTP”).
For disclaimer, please refer to page 6.
19

GREATLINK GLOBAL EQUITY ALPHA FUND report as at 30 June 2012
FUND FACTS
Inception Date 25 March 2002
Offer Price S$ 0.662
Bid Price S$ 0.629
Fund Size
S$ 72.76 mil
(Underlying Fund Size)
Fund Manager
USD 733.5 mil
Schroder Investment
Management Ltd
(“Schroders”)
Bid-Offer Spread 5%
Fund Management Fee 1.60% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Broadly Diversifi ed
Benchmark
MSCI World Index with Net
Dividends Reinvested ^
Morningstar Rating
FUND OBJECTIVE
This Fund invests all or substantially into the USD share class
of the Schroder International Selection Fund Global Equity
Alpha 2 managed by Schroder Investment Management
Limited. The fund objective of Schroder International
Selection Fund Global Equity Alpha is to provide capital
growth primarily through investment in equity and equity
related securities of companies worldwide. In order to
achieve the objective, Schroder Investment Management
Limited will invest in a select portfolio of securities, which
it believes offer the best potential for future growth. The
country of domicile of the underlying fund is Luxembourg.
The base currency of the underlying fund is US Dollar.
PORTFOLIO WEIGHTINGS *
PORTFOLIO PERFORMANCE SINCE INCEPTION
Global Equity
20
* Information relates to Schroder International Selection Fund – Global Equity Alpha
^ Benchmark: MSCI World Index, gross dividends reinvested from launch till 14 May 2007, MSCI World Index, net dividends reinvested
wef 15 May 2007.
For disclaimer, please refer to page 6.
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink Global Equity Alpha Fund -6.12 3.11 -7.23 2.61 0.86 -48.23 -12.34 -24.13 -2.72 -33.79 -3.94
Benchmark -4.35 3.47 -1.95 19.62 6.15 -28.71 -6.55 21.89 2.00 6.73 0.64
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.

GREATLINK EUROPEAN EQUITY FUND report as at 30 June 2012
FUND FACTS
Inception Date 10 July 2000
Offer Price S$ 0.641
Bid Price S$ 0.609
Fund Size
S$ 13.48 mil
(Underlying Fund Size) S$ 99.3 mil
Underlying Fund
Capital International Fund
– European Equity Fund
Fund Manager Capital International, Sàrl #
Bid-Offer Spread 5%
Fund Management Fee 1.60% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS – OA ^
Risk Category Higher Risk /
Narrowly Focused
Benchmark
MSCI Europe Index, with
Net Dividends Reinvested
Morningstar Rating N.A.
FUND OBJECTIVE
The Fund objective is to achieve long term capital growth
through investment in stocks in the European markets. This
Fund shall invest substantially into the CIF - European Equity
Fund managed by Capital International Sàrl. The country of
domicile of the underlying fund is Luxembourg. The portfolio
of the Fund will be broadly diversifi ed with no specifi c
industry or sectoral emphasis.
PORTFOLIO WEIGHTINGS *
PORTFOLIO PERFORMANCE SINCE INCEPTION
* Information relates to Capital International Fund – European Equity Fund
#
With effect from 1 June 2011, Capital International Sàrl has been elevated to Fund Manager for this fund.
^ We are unable to accept new CPF monies for the fund with effect from 22 December 2010.
For disclaimer, please refer to page 6.
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink European Equity Fund -6.45 2.70 -11.35 1.33 0.44 -47.68 -12.15 -4.69 -0.48 -35.89 -3.65
Benchmark -6.77 0.04 -13.82 5.09 1.67 -42.28 -10.41 17.85 1.66 -15.21 -1.37
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Global Equity
21

GREATLINK GLOBAL TECHNOLOGY FUND report as at 30 June 2012
FUND FACTS
Inception Date 15 January 2001
Offer Price S$ 0.428
Bid Price S$ 0.407
Fund Size
S$ 47.56 mil
Fund Manager
Sub Manager
Lion Global Investors Ltd
Wellington International
Management Company
Pte Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.60% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Narrowly Focused
Benchmark
MSCI AC World IT Free,
Net #
Morningstar Rating N.A.
FUND OBJECTIVE
The Fund objective is to achieve long-term capital growth
through investment in global technology stocks. The Fund
offers exposure to the rapidly growing adoption of technology
across economies worldwide. Specifi cally, it aims to achieve
high returns by investing in technology companies as well as
in a range of industries where the growth opportunities have
been impacted by technological developments.
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
Global Equity
22
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink Global Technology Fund -4.24 10.00 5.99 41.81 12.35 -12.66 -2.67 -7.92 -0.82 -57.16 -7.13
Benchmark -7.51 7.75 8.76 31.41 9.53 -11.43 -2.40 30.96 2.73 -38.67 -4.18
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
#
Benchmark: MSCI World IT Index from launch till 28 Feb 2003, MSCI AC World IT Gross index wef 1 Mar 2003 & MSCI AC World IT Free, Net
Index wef 1 Nov 06
For disclaimer, please refer to page 6.

GREATLINK GLOBAL REAL ESTATE SECURITIES FUND report as at 30 June 2012
FUND FACTS
Inception Date 8 June 2005
Offer Price S$ 0.778
Bid Price S$ 0.740
Fund Size
S$ 100.64 mil
Fund Manager
Sub Manager
Lion Global Investors Ltd
Pramerica Investment
Management
Bid-Offer Spread 5%
Fund Management Fee 1.60% p.a.
Valuation Frequency Daily
Currency of Fund
Singapore Dollar
CPFIS Included
CPFIS – OA
Risk Category Higher Risk /
Narrowly Focused
Benchmark
Morningstar Rating
4th Dividend Distributed
S&P Citigroup BMI World
Property Index, Net Total
Return Index
N.A.
15 Sep 11 – 4% per unit
FUND OBJECTIVE
The Fund objective is to seek to provide investors with
medium to long term capital appreciation and to make
regular income distributions by investing globally in (a)
equity securities of companies that derive a substantial part
of their revenue from the ownership, management and/or
development of real estate and (b) Real Estate Investment
Trusts (REITs) listed or traded in a regulated market.
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink Global Real Estate Securities Fund 1.93 10.78 4.14 39.09 11.63 -27.04 -6.11 -0.23 -0.03
Benchmark 2.47 11.85 4.81 46.80 13.65 -30.40 -6.99 -0.23 -0.03
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Global Equity
For disclaimer, please refer to page 6.
23

GREATLINK PAN ASIA FUND report as at 30 June 2012
FUND FACTS
Inception Date 10 July 2000
Offer Price S$ 0.782
Bid Price S$ 0.743
Fund Size
S$ 20.54 mil
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.50% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Narrowly Focused
Benchmark
MSCI AC Asia Pacifi c
Index
Morningstar Rating N.A.
FUND OBJECTIVE
The Fund objective is to achieve long term capital growth
through investment in securities quoted on Asian stock
markets including but not limited to Singapore, Malaysia,
Thailand, Indonesia, Philippines, Hong Kong, Japan, Taiwan,
China, South Korea, Australia, New Zealand and the Indian
sub continent. The Fund is broadly diversifi ed with no
specifi c industry or sectoral emphasis.
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
Asian Equity
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink Pan Asia Fund -5.83 1.09 -11.76 -0.93 -0.31 -40.70 -9.92 6.75 0.66 -21.79 -2.03
Benchmark -6.04 2.05 -7.83 7.08 2.31 -28.40 -6.46 38.77 3.33 -8.04 -0.70
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
24
For disclaimer, please refer to page 6.

GREATLINK ENHANCER FUND report as at 30 June 2012
FUND FACTS
Inception Date 26 April 1996
Offer Price S$ 1.951
Bid Price S$ 1.854
Fund Size
S$ 439.55 mil
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.50% p.a.
Valuation Frequency Daily
Currency of Fund
Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Narrowly Focused
Benchmark
MSCI All Countries Asia
Pacifi c ex Japan, Net
Morningstar Rating
FUND OBJECTIVE
The Fund objective is to achieve long term capital appreciation
by investing primarily in the equity markets of the Asian
Pacifi c region. The Fund shall invest in the Singapore market
as well as most markets in the Asia Pacifi c region, including
Australia, China, Hong Kong, India, Indonesia, Malaysia, New
Zealand, Philippines, South Korea, Taiwan and Thailand.
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink Enhancer Fund -5.26 2.15 -14.64 -0.48 -0.16 -25.03 -5.60 109.49 7.68 95.16 4.22
Benchmark -5.69 2.88 -10.01 19.67 6.17 -16.35 -3.51 121.46 8.28 58.62 2.89
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Asian Equity
For disclaimer, please refer to page 6.
25

GREATLINK FAR EAST EX JAPAN EQUITIES FUND report as at 30 June 2012
FUND FACTS
Inception Date 25 March 2002
Offer Price S$ 1.704
Bid Price S$ 1.619
Fund Size
S$ 54.09 mil
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.50% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Narrowly Focused
Benchmark
MSCI AC Far East Ex
Japan Index, Net
Morningstar Rating
FUND OBJECTIVE
The Fund objective is to maximize capital growth through
investing primarily in equities of companies based in China,
Hong Kong, Indonesia, South Korea, Malaysia, Philippines,
Singapore, Taiwan, Thailand, and also in other Asia Pacifi c
regions except Japan.
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
Asian Equity
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink Far East Ex Japan Equities Fund -5.93 3.45 -12.77 -0.55 -0.18 -27.24 -6.16 85.88 6.40 70.42 5.33
Benchmark -5.84 3.28 -9.21 19.22 6.03 -13.23 -2.80 104.80 7.43 87.04 6.29
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
26
For disclaimer, please refer to page 6.

GREATLINK ASEAN GROWTH FUND report as at 30 June 2012
FUND FACTS
Inception Date 26 April 1996
Offer Price S$ 2.583
Bid Price S$ 2.454
Fund Size
S$ 343.58 mil
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.50% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Narrowly Focused
Benchmark
MSCI AC South East Asia
Index (Net) #
Morningstar Rating N.A.
FUND OBJECTIVE
The Fund objective is to achieve long term capital
appreciation by investing in equities in the economies of the
ASEAN region.
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
#
Composite of MSCI Singapore/Malaysia/Philippines/Thailand and Indonesia (Net) from launch till 28 February 2011, MSCI AC South East Asia
Index (Net) with effect from 1 March 2011. Both are computed based on market capitalization and their returns mirror each other.
For disclaimer, please refer to page 6.
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink ASEAN Growth Fund -4.14 5.32 -4.85 39.99 11.87 -2.15 -0.43 180.46 10.86 158.32 6.04
Benchmark -3.54 6.35 0.13 52.76 15.17 15.55 2.93 202.82 11.72 33.85 1.82
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Asian Equity
27

GREATLINK LION JAPAN GROWTH FUND report as at 30 June 2012
FUND FACTS
Inception Date 9 Jan 2007
Offer Price S$ 0.576
Bid Price S$ 0.548
Fund Size
S$ 4.20 mil
(Underlying Fund Size) S$ 36.2 mil
Underlying Fund
LionGlobal Japan Growth
Fund
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.50% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Narrowly Focused
Benchmark
TOPIX with net dividends
reinvested, in SGD terms
Morningstar Rating
FUND OBJECTIVE
The Fund aims to provide long-term capital growth of
assets of the Fund by investing primarily in quoted or listed
securities in any Recognized Stock Exchange or OTC market
in Japan. The investment strategy is to invest the majority of
the deposited property in mid to small market capitalization
companies. There is no target industry or sector for the
investment of the Fund. This Fund invests all or substantially
into the LionGlobal Japan Growth Fund managed by Lion
Global Investors Limited.
PORTFOLIO WEIGHTINGS *
PORTFOLIO PERFORMANCE SINCE INCEPTION
Asian Equity
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink Lion Japan Growth Fund -6.16 -1.08 -6.00 0.37 0.12 -42.80 -10.57 -42.32 -9.56
Benchmark -6.34 -0.43 -5.29 -12.34 -4.29 -44.38 -11.07 -43.59 -9.93
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
28
* Information relates to LionGlobal Japan Growth Fund
For disclaimer, please refer to page 6.

GREATLINK CHINA GROWTH FUND ^ report as at 30 June 2012
FUND FACTS
Inception Date 9 Jan 2007
Offer Price S$ 0.886
Bid Price S$ 0.842
Fund Size
S$ 146.44 mil
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.5 % p.a.
Valuation Frequency Daily
Currency of Fund
Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Narrowly Focused
Benchmark
MSCI Golden Dragon
Index with net dividends
reinvested, in SGD terms
Morningstar Rating N.A.
FUND OBJECTIVE
The Fund aims for medium to long-term capital growth
of assets of the Fund by investing primarily in equity and
equity-linked Authorised Investments of companies with
assets in or earnings derived from the People’s Republic of
China, Hong Kong S.A.R. and Taiwan. The assets of the Fund
may also be held in cash or invested in non-China related
investments in emerging and developed markets, primarily
in equities investments. The Fund will not target any specifi c
industry or sector.
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
^ GreatLink Lion China Growth Fund is renamed as GreatLink China Growth Fund and managed as a Standalone Fund with effect from 1 May
2008.
For disclaimer, please refer to page 6.
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink China Growth Fund -3.66 1.94 -13.55 -8.08 -2.77 -25.29 -5.66 -11.37 -2.18
Benchmark -5.84 2.30 -11.48 3.27 1.08 -18.38 -3.98 -7.20 -1.36
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Asian Equity
29

GREATLINK LION INDIA FUND report as at 30 June 2012
FUND FACTS
Inception Date 9 Jan 2007
Offer Price S$ 0.828
Bid Price S$ 0.787
Fund Size
S$ 88.65 mil
(Underlying Fund Size) S$ 186.3 mil
Underlying Fund
LionGlobal India Fund
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.50% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Narrowly Focused
Benchmark
MSCI India with net
dividends reinvested, in
SGD terms
Morningstar Rating
FUND OBJECTIVE
The Fund aims for medium to long-term capital appreciation
by investing in Indian equities and equity-related instruments.
The Fund, denominated in S$, will not target any specifi c
industry or sector. This Fund invests all or substantially into
the LionGlobal India Fund managed by Lion Global Investors
Limited.
PORTFOLIO WEIGHTINGS *
PORTFOLIO PERFORMANCE SINCE INCEPTION
Asian Equity
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
Since Inception
Since Inception
(annualised)
GreatLink Lion India Fund -8.70 2.21 -25.61 -11.37 -3.94 -25.68 -5.76 -17.16 -3.38
Benchmark -8.86 6.10 -23.06 -6.95 -2.37 -27.32 -6.18 -14.31 -2.78
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
30
* Information relates to LionGlobal India Fund
For disclaimer, please refer to page 6.

GREATLINK SINGAPORE EQUITIES FUND report as at 30 June 2012
FUND FACTS
Inception Date 25 March 2002
Offer Price S$ 1.853
Bid Price S$ 1.761
Fund Size
S$ 113.67 mil
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.50% p.a.
Valuation Frequency Daily
Currency of Fund
Singapore Dollar
CPFIS Included
CPFIS - OA
Risk Category Higher Risk /
Narrowly Focused
Benchmark
MSCI Singapore Free
Index, Net
Morningstar Rating
FUND OBJECTIVE
The Fund objective is to maximize capital growth through
investing primarily in Singapore equities.
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink Singapore Equities Fund -4.66 8.84 -12.13 20.95 6.54 -19.00 -4.13 110.65 7.73 85.37 6.20
Benchmark -3.08 12.18 -4.18 31.92 9.67 -8.11 -1.68 140.56 9.17 105.83 7.28
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Asian Equity
For disclaimer, please refer to page 6.
31

GREATLINK LION VIETNAM FUND report as at 30 June 2012
FUND FACTS
Inception Date 1 February 2008
Offer Price S$ 0.446
Bid Price S$ 0.424
Fund Size
S$ 7.52 mil
Underlying Fund
LionGlobal Vietnam Fund
Underlying Fund Size S$ 63.3 mil
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 1.50% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
N.A.
Risk Category Higher Risk /
Narrowly Focused
Benchmark #
FTSE Vietnam Index
Morningstar Rating N.A.
FUND OBJECTIVE
The Fund aims to achieve medium to long-term capital
appreciation by investing in Vietnam. The Fund will invest
in companies listed in Vietnam and other companies listed
elsewhere that have operations in, or derive part of their
revenue from Vietnam and the Indo-China region. The Fund
may also invest in short-term fi xed income instruments listed
or traded on recognized markets within the Indo-China region.
This Fund invests all or substantially into the LionGlobal
Vietnam Fund managed by Lion Global Investors Limited.
PORTFOLIO WEIGHTINGS *
PORTFOLIO PERFORMANCE SINCE INCEPTION
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years
(annualised)
Since Inception
Since Inception
(annualised)
Asian Equity
32
GreatLink Lion Vietnam Fund -1.17 23.98 3.16 -21.48 -7.74 NA NA -55.37 -16.72
Benchmark -3.71 18.17 -0.72 -29.85 -11.15 NA NA -65.82 -21.59
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
#
Benchmark was changed from Vietnam Stock Index to FTSE Vietnam Index wef 1 May 2012.
* Information relates to LionGlobal Vietnam Fund
For disclaimer, please refer to page 6.

GREATLINK CASH FUND report as at 30 June 2012
FUND FACTS
Inception Date 26 April 1996
Offer Price S$ 1.302
Bid Price S$ 1.237
Fund Size
S$ 116.15 mil
Fund Manager
Lion Global Investors Ltd
Bid-Offer Spread 5%
Fund Management Fee 0.30% p.a.
Valuation Frequency Daily
Currency of Fund
Singapore Dollar
CPFIS Included
CPFIS - OA & SA
Risk Category Lower Risk /
Broadly Diversifi ed
Benchmark
1 mth SIBID
Morningstar Rating
FUND OBJECTIVE
The Fund objective is to generate a return comparable to S$
time deposits.
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualized)
5 years 5 years
(annualized)
10 years 10 years
(annualized)
Since Inception
Since Inception
(annualized)
GreatLink Global Bond Fund 0.24 0.32 0.41 1.73 0.57 5.19 1.02 13.38 1.26 30.21 1.65
Benchmark 0.02 0.03 0.07 0.26 0.09 2.37 0.47 10.47 1.00 28.85 1.58
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Important Note: The GreatLink Cash Fund is recommended to be used as a short term holding
fund and not as a form of long term investment as the GreatLink Cash Fund may not yield returns
that are higher than the prevailing CPF interest rates.
For disclaimer, please refer to page 6.
Non-Equity
33

GREATLINK STABLE BOND FUND report as at 30 June 2012
FUND FACTS
Inception Date 25 March 2002
Offer Price S$ 1.291
Bid Price S$ 1.227
Fund Size
S$ 60.48 mil
(Underlying Fund Size) S$ 296.41 mil
Underlying Fund
DWS Lion Bond Fund
Fund Manager
Deutsche Asset
Management (Asia) Ltd #
Bid-Offer Spread 5%
Fund Management Fee 0.50% p.a.
Valuation Frequency Daily
Currency of Fund Singapore Dollar
CPFIS Included
CPFIS - OA & SA
Risk Category Low to Medium Risk ^ /
Broadly Diversifi ed
Benchmark
6 Months SIBOR less
12.5bp
Morningstar Rating
FUND OBJECTIVE
The Fund invests all or substantially into DWS Lion Bond
Fund, managed by Deutsche Asset Management (Asia)
Limited. The investment objective of the Underlying Fund is
to achieve an attractive return by investing in assets which
are in the Managers’ opinion, equivalent to or better than
single A quality investment grade bonds of Singapore and
major bond markets such as the G7 countries, Australia, New
Zealand, Hong Kong and South Korea. The G7 countries are
Canada, France, Germany, Italy, Japan, U.K. and U.S.A..The
country of domicile of the Underlying Fund is Singapore.
PORTFOLIO WEIGHTINGS *
PORTFOLIO PERFORMANCE SINCE INCEPTION
Non-Equity
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualised)
5 years 5 years 10 years 10 years Since Inception Since Inception
(annualised)
(annualised)
(annualised)
GreatLink Stable Bond Fund 0.49 1.40 1.49 12.26 3.93 14.78 2.80 26.49 2.38 29.16 2.52
Benchmark 0.08 0.16 0.34 1.40 0.47 4.52 0.89 14.10 1.33 14.39 1.32
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
* Information relates to DWS Lion Bond Fund
^ The fund was reclassifi ed from Low Risk to Low to Medium Risk wef 3 April 2007, to better refl ect the nature of the underlying assets.
There is no change to the fund objective and investment strategies of the fund.
#
With effect from 1 June 2011, Deutsche Asset Management (Asia) Ltd has been elevated to Fund Manager for this fund.
34
For disclaimer, please refer to page 6.

GREATLINK GLOBAL BOND FUND report as at 30 June 2012
FUND FACTS
Inception Date 15 January 2002
Offer Price S$ 1.525
Bid Price S$ 1.449
Fund Size
S$ 246.89 mil
Fund Manager
Lion Global Investors Ltd
Sub Manager
PIMCO
Bid-Offer Spread 5%
Fund Management Fee 0.85% p.a.
Valuation Frequency Daily
Currency of Fund
Singapore Dollar
CPFIS Included
CPFIS - OA & SA
Risk Category
Low to Medium Risk/
Broadly Diversifi ed
Benchmark
Barclays Global Aggregate
Bond Index 50% Hedged
into SGD
Morningstar Rating
FUND OBJECTIVE
The Fund objective is to achieve excess return relative to
the index while minimizing volatility of return relative to the
index (Barclays Global Aggregate Bond Index, 50% hedged
into Singapore Dollars).
PORTFOLIO WEIGHTINGS
PORTFOLIO PERFORMANCE SINCE INCEPTION
PERFORMANCE ON BID–BID BASIS (%)
3 mths 6 mths 1 year 3 years 3 years
(annualized)
5 years 5 years
(annualized)
10 years 10 years
(annualized)
Since Inception
Since Inception
(annualized)
GreatLink Global Bond Fund 2.84 2.26 8.78 18.97 5.96 30.54 5.47 48.62 4.04 52.53 4.12
Benchmark 1.46 0.95 6.42 10.82 3.48 21.41 3.96 42.73 3.62 47.21 3.77
Source: Morningstar. Performance fi gures are calculated on a bid-bid basis, with all dividends and
distributions reinvested, taking into account all charges which would have been payable upon such
reinvestment.
Non-Equity
For disclaimer, please refer to page 6.
35

GREATLINK CHOICE (AUG 2013) FUND report as at 30 June 2012
INVESTMENT OBJECTIVE
The Fund objective is to seek to provide policyholders with:
1. Annual payouts of 4.90% of the Initial Unit Price per Unit
held by each policyholder as at each policy anniversary;
and
2. 100% of the Initial Unit Price per Unit held on maturity.
“Policy Anniversary” falls on 31 Aug 2007, 31 Aug 2008,
31 Aug 2009, 31 Aug 2010, 31 Aug 2011, 31 Aug 2012 and
the Maturity Date (or if such date does not fall on a Business
Day, the next Business Day).
“Maturity” falls on 31 Aug 2013 (or if such date does not fall
on a Business Day, the next Business Day).
FUND INFORMATION
Capital raised less all charges deducted is invested
in notes (the “Signum Notes”) issued by Signum Platinum
Limited (“SPL”), which are rated at a minimum rating of “AA”
by Standard & Poor’s on the Inception Date. The tranche
in the reference portfolio which SPL has exposure has an
initial loss protection level of 11.00% of the initial reference
portfolio amount on the Inception Date.
FUND FACTS
Inception Date 31 Aug 2006
Investment Tenure
7 Years
Fund Manager
Lion Global Investors Limited
Initial Management Fee 5.00% of Single Premium
deducted upfront
Annual Management Fee 0.896% of the Original
Principal Amount less any par
redemptions, deducted at the
beginning of each policy year
from value of the Fund
Currency of Fund
Singapore Dollar
Valuation frequency
Last Business Day of each
month
Dealing Deadline
2 p.m, 5 Business Days prior
to the Next Valuation Date
Minimum holding amount $1,000
Minimum realization amount In multiples of 1,000 units
Fund Size
$0.37mil
Benchmark Index*
7-year Singapore swap rate
(mid rate) taken on the start
of the initial offer period on 6
Jul 2006, i.e. 3.9%
Fund Price $0.823
5 th Annual Payout 31 Aug 11 - $0.049 per unit
* The benchmark index has been changed from “12-Month Singapore
Dollar Fixed Deposit Rate” to “7-Year Singapore Swap Rate (mid rate)
taken on the start of the initial offer period on 6 Jul 2006”.
BOND COLLATERALS
Rating (S&P/Moody’s) of Issuers of Bond
Collaterals
Effective Date Rating as at
Effective Date
As at
30 June 2012
Stone Tower CLO V Ltd. 31 Aug 06 AAA / Aaa AA+ / Aaa
Emporia 2006-2A A1 20 Nov 08 AAA / Aaa AA+ / Aaa
Monument Park 2003-1A A1 15 Dec 08 AAA / Aaa AA+/*+ / Aaa
Wave 2007-1X A1 15 Dec 08 AAA / Aaa D / Caa1
SLMA 2002-A A2 25 Jun 09 AAA / Aaa AA / Aaa
UPDATES ON GREATLINK CHOICE (AUG 2013) AS AT 30 JUNE 2012
Others
No. of Credit Events (cumulative) 13
No. of Substitutions (cumulative) 83
Cumulative (Loss)/Gain -7.19%
Loss Protection (or Subordination) Level 3.81%
Tranche Rating
Initial
AA
Current
CC
Fund Price $0.823
Note: Cumulative (Loss)/Gain and Loss Protection (or Subordination) Level is expressed as a percentage of initial reference portfolio amount.
36

Others
GREATLINK CHOICE (AUG 2013) FUND report as at 30 June 2012
DETAILS OF EVENTS
CREDIT EVENT
Date Reference Entity Exposure Loss
7 Sep 08 Fannie Mae 0.67% 0.469%
15 Sep 08 Lehman Brothers Holdings
1.00% 0.70%
Inc.
7 Oct 08 Landsbanki Islands HF 0.83% 0.581%
9 Oct 08 Kaupthing Bank HF 1.00% 0.70%
6 Jan 09 Lyondell Chemical Co. 0.83% 0.581%
18 Mar 09 Abitibi-Consolidated Inc. 1.00% 0.70%
31 Mar 09 Idearc Inc. 1.00% 0.70%
28 Apr 09 Bank TuranAlem 0.50% 0.35%
28 May 09 Visteon Corporation 0.83% 0.581%
1 Nov 09 CIT Group Inc. 0.83% 0.581%
24 Dec 09 AIFUL Corporation 0.83% 0.581%
26 Mar 10 Ambac Assurance
0.83% 0.581%
Corporation
23 Nov 11 The PMI Group Inc. 0.83% 0.581%
As at 30 June 2012
(cumulative)
7.69%
SUBSTITUTION
Date Entity Removed /
Downsized
Entity Added / Upsized
Loss Protection
(or Subordination) Gain/
(Loss)
0.50%
As at 31 December 2011
(cumulative)
Jan – Jun 2012 – – –
As at 30 June 2012
0.50%
(cumulative)
37

GREATLINK CHOICE (AUG 2013) FUND report as at 30 June 2012
REFERENCE ENTITIES AS AT 30 JUNE 2012
Others
38
No. Reference Entity Seniority S&P Industry Country
1 ABU DHABI NATIONAL ENERGY COMPANY PJSC Senior Utilities UAE
2 ACOM CO., LTD. Senior Financial intermediaries Japan
3 AGILE PROPERTY HOLDINGS LTD Senior Building & Development China
4 ALLTEL CORP Senior Telecommunications USA
5 AMERICAN AXLE & MANUFACTURING, INC Senior Automotive USA
6 AMERICAN INTERNATIONAL GROUP, INC Senior Insurance USA
7 AMR CORPORATION Senior Air transport USA
8 ARVINMERITOR, INC. Senior Automotive USA
9 ASSURED GURANTY CORP Senior Insurance USA
10 AUSTRALIA AND NEW ZEALAND BANKING Subordinated Financial intermediaries Australia
GROUP LIMITED
11 AVIS BUDGET GROUP, INC. Senior Equipment leasing USA
12 BERKSHIRE HATHAWAY INC. Senior Conglomerates USA
13 BHP BILLITON LIMITED Senior Nonferrous metals/minerals Australia
14 BRUNSWICK CORPORATION Senior Leisure goods/activities/movies USA
15 CAPITAL ONE BANK Senior Financial intermediaries USA
16 CATHAY FINANCIAL HOLDING CO., LTD. Senior Insurance Taiwan
17 CHAODA MODERN AGRICULTURE (HOLDINGS) Senior Farming/agriculture China
LIMITED
18 CIBA HOLDING AG Senior Chemicals & plastics Switzerland
19 CNOOC LIMITED Senior Oil & gas China
20 COMPUTER SCIENCES CORPORATION Senior Business equipment & services USA
21 CONTINENTAL AIRLINES, INC. Senior Air transport USA
22 COUNTRY GARDEN Senior REITs and REOCs China
23 COUNTRYWIDE HOME LOANS, INC. Senior Financial intermediaries USA
24 DEXIA CREDIT LOCAL Senior Financial intermediaries France
25 DP WORLD LTD Senior Surface Transport UAE
26 FINANCIAL SECURITY ASSURANCE INC. Senior Insurance USA
27 FIRST DATA CORPORATION Senior Business equipment & services USA
28 FORD MOTOR COMPANY Senior Automotive USA
29 FREESCALE SEMICONDUCTOR, INC. Senior Electronics/electrical USA
30 GANNETT CO., INC. Senior Publishing USA
31 GMAC LLC Senior Automotive USA
32 GPT RE LIMITED AS RESPONSIBLE ENTITY OF Senior REITs and REOCs Australia
THE GENERAL PROPERTY TRUST
33 GREENTOWN CHINA HOLDINGS LTD Senior Building & Development China
34 HANNOVER RUECKVERSICHERUNG AG Subordinated Insurance Germany
35 HARRAH'S OPERATING COMPANY INC. Senior Lodging & casinos USA
36 HOPSON DEVELOPMENT HOLDINGS LIMITED Senior Building & Development China
37 HSBC FINANCE CORPORATION Senior Financial intermediaries USA
38 HUTCHISON WHAMPOA LIMITED Senior Conglomerates Hong Kong
39 INTELSAT, LTD. Senior Telecommunications USA
40 ISTAR FINANCIAL INC Senior REITs and REOCs USA
41 JETBLUE AIRWAYS CORPORATION Senior Air transport USA

GREATLINK CHOICE (AUG 2013) FUND report as at 30 June 2012
No. Reference Entity Seniority S&P Industry Country
42 K. HOVNANIAN ENTERPRISES, INC. Senior Building & Development USA
43 KAZKOMMERTSBANK Senior Financial intermediaries Kazakhstan
44 KELDA GROUP LTD^ Senior Utilities United Kingdom
45 KONINKLIJKE KPN N.V. Senior Telecommunications Netherlands
46 KOREA ELECTRIC POWER CORPORATION Senior Utilities South Korea
47 KT CORPORATION Senior Telecommunications South Korea
48 LENNAR CORPORATION Senior Building & Development USA
49 LIZ CLAIBORNE INC Senior Clothing/textiles USA
50 LOUISIANA-PACIFIC CORPORATION Senior Forest products USA
51 MACQUARIE BANK LIMITED Subordinated Financial intermediaries Australia
52 MALAYAN BANKING BERHAD Senior Financial intermediaries Malaysia
53 MALAYSIA Senior Sovereign Malaysia
54 MBIA INC. Senior Insurance USA
55 MEDIACOM COMMUNICATIONS CORPORATION Senior Cable & satellite television USA
56 MERITAGE HOMES CORPORATION Senior Building & Development USA
57 MERRILL LYNCH & CO., INC Senior Brokers, Dealers & Investment USA
houses
58 MGIC INVESTMENT CORPORATION Subordinated Insurance USA
59 MORGAN STANLEY Senior Brokers, Dealers & Investment USA
houses
60 NEXT PLC Senior Retailers (except food & drug) United Kingdom
61 NORBORD INC Senior Forest products Canada
62 NORSKE SKOGINDUSTRIER ASA Senior Forest products Norway
63 ORIX CORPORATION Senior Equipment leasing Japan
64 PHH CORPORATION Senior Business equipment & services USA
65 POSCO Senior Steel South Korea
66 PROMISE CO., LTD. Senior Financial intermediaries Japan
67 PUBLIC BANK BHD Subordinated Financial intermediaries Malaysia
68 QANTAS AIRWAYS LIMITED Senior Air transport Australia
69 R.R. DONNELLEY & SONS COMPANY Senior Publishing USA
70 RADIAN GROUP INC Senior Insurance USA
71 REALOGY CORP Senior Building & Development USA
72 RESIDENTIAL CAPITAL LLC Senior Financial intermediaries USA
73 RIO TINTO LIMITED Senior Nonferrous metals/minerals Australia
74 RITE AID CORPORATION Senior Food/drug retailers USA
75 ROAD KING INFRASTRUCTURE LTD Senior Building & Development Hong Kong
76 RUSSIAN FEDERATION Senior Sovereign Russia
77 SABRE HOLDINGS CORPORATION Senior Business equipment & services USA
78 SAMSUNG ELECTRONICS CO., LTD. Senior Electronics/electrical South Korea
79 SERVICEMASTER COMPANY (THE) Senior Ecological Services & USA
Equipment
80 SHANGHAI REAL ESTATE LTD Senior Building & Development China
81 SHIMAO PROPERTY HOLDING LTD Senior Building & Development China
82 SHINHAN BANK Subordinated Financial intermediaries South Korea
83 SK TELECOM CO., LTD. Senior Telecommunications South Korea
84 SLM CORPORATION Senior Financial intermediaries USA
Others
39

GREATLINK CHOICE (AUG 2013) FUND report as at 30 June 2012
Others
No. Reference Entity Seniority S&P Industry Country
85 SONY CORPORATION Senior Electronics/electrical Japan
86 SPRINT NEXTEL CORPORATION Senior Telecommunications USA
87 SUMITOMO MITSUI BANKING CORPORATION Subordinated Financial intermediaries Japan
88 SWIRE PACIFIC LIMITED Senior Building & Development Hong Kong
89 TELECOM CORPORATION OF NEW ZEALAND Senior Telecommunications New Zealand
LIMITED
90 TELEFONOS DE MEXICO, SOCIEDAD ANONIMA Senior Telecommunications Mexico
DE CAPITAL VARIABLE
91 TELSTRA CORPORATION LIMITED Senior Telecommunications Australia
92 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. Subordinated Financial intermediaries Japan
93 THE BEAR STEARNS COMPANIES INC. Senior Brokers, Dealers & Investment USA
houses
94 THE MCCLATCHY COMPANY Senior Publishing USA
95 THE SHERWIN-WILLIAMS COMPANY Senior Chemicals & plastics USA
96 TOYOTA MOTOR CREDIT CORPORATION Senior Automotive USA
97 UNITED MEXICAN STATES Senior Sovereign Mexico
98 UNITED RENTALS (NORTH AMERICA), INC. Senior Equipment leasing USA
99 UPM-KYMMENE OYJ Senior Forest products Finland
100 VNESHTORGBANK Senior Financial intermediaries Russia
101 WESFARMERS LIMITED Senior Food/drug retailers Australia
102 WESTFIELD MANAGEMENT LTD AS
Senior REITs and REOCs Australia
RESPONSIBLE ENTITY OF THE WESTFIELD
TRUST
103 WOOLWORTHS LTD Senior Food/drug retailers Australia
104 WOORI BANK Subordinated Financial intermediaries South Korea
105 WYNDHAM WORLDWIDE CORPORATION Senior Lodging & casinos USA
106 XL CAPITAL LTD Senior Insurance Bermuda
107 YORKSHIRE WATER SERVICES FINANCE PLC^ Senior Utilities United Kingdom
108 FEDERAL NATIONAL MORTGAGE ASSOCIATION
(FANNIE MAE)
Senior
U.S. Agency (Explicitly
Guaranteed)
109 LEHMAN BROTHERS HOLDINGS INC Senior Brokers, Dealers & Investment USA
houses
110 LANDSBANKI ISLANDS HF Senior Financial intermediaries Iceland
111 KAUPTHING BANKI HF. Senior Financial intermediaries Iceland
112 LYONDELL CHEMICAL COMPANY Senior Chemicals & plastics USA
113 IDEARC INC. Senior Publishing USA
114 ABITIBI-CONSOLIDATED INC. Senior Forest products Canada
115 JSC BANK TURANALEM Senior Financial intermediaries Kazakhstan
116 VISTEON CORPORATION Senior Automotive USA
117 CIT GROUP INC. Senior Financial intermediaries USA
118 AIFUL CORPORATION Senior Financial intermediaries Japan
119 AMBAC ASSURANCE CORPORATION Senior Insurance USA
120 THE PMI GROUP INC Senior Insurance USA
Defaulted Reference Entities
USA
40

Others
GREATLINK CHOICE (AUG 2013) FUND report as at 30 June 2012
^
Kelda Group Ltd was previously known as Kelda Group PLC. A split Succession Event had taken
place, whereby Yorkshire Water Services Finance PLC and Kelda Group Ltd would each be Successors
to Kelda Group PLC. Post the Succession Event, the portfolio’s original holding for Kelda Group PLC
was split equally (in terms of notional amount) into Kelda Group Ltd and Yorkshire Water Services
Finance PLC.
Footnotes:
1. Policyholders will have to hold their investments in the GreatLink Choice for the entire policy
term of 7 years before they are eligible to receive the total payouts projected and 100% of their
principal invested at maturity. If policyholders realise their units before the fund matures, the
realisation of units will be based on the prevailing net asset value which can vary according to
market fl uctuations and may be less than the initial offer price of the units.
The annual payouts and return of principal invested are provided for by debt securities and
derivative transactions employed as part of the investment approach of the funds and not backed
by a guarantee. Policyholders may lose part or all of their investment in the funds in the event
there is a downgrade of the debt securities, default by the issuers of the debt securities, a default
of the swap counterparty to the derivative transactions, an early redemption of the Note, or
credit events/trading actions resulting in cumulative losses that exceed the initial loss protection
level (as defi ned in the portfolio credit default swap agreement). As such, no guarantee is given
that policyholders will receive their principal invested at maturity or the payouts at each policy
anniversary.
2. No refund of the management fees will be made to policyholders who realise their units before the
fund matures. The management fees will not affect the annual payouts and maturity benefi t.
3. During the policy term of the Fund, the Fund Manager may, where the Fund Manager considers
it to be in the interest of policyholders, substitute existing Reference Entities with new Reference
Entities (each such substitution, a “Replacement”). Replacements may give rise to trading losses
or trading gains, which shall be adjusted against the loss protection level.
4. The default risk, liquidation risk, foreign currency risk, and early redemption risk on the Collateral
will be borne by Goldman Sachs International (“GSI”) under the obligation of a Total Return Swap
between SPL and GSI. GSI will have the right to effect Collateral Substitution subject to such
Collateral has to be rated at least “AAA” by S&P or “Aaa” by Moody’s. Any capital gains/losses in
proceeds and expenses incurred following a Collateral substitution will be borne by GSI, Similarly
for Collateral amortization and Collateral maturity.
For disclaimer, please refer to page 6.
41

Others
GREATLINK CHOICE (DEC 2013) FUND report as at 30 June 2012
INVESTMENT OBJECTIVE
The Fund objective is to seek to provide policyholders with:
1. Annual payouts of 4.60% of the Initial Unit Price per Unit
held by each policyholder as at each policy anniversary;
and
2. 100% of the Initial Unit Price per Unit held on maturity.
“Policy Anniversary” falls on 31 Dec 2007, 31 Dec 2008,
31 Dec 2009, 31 Dec 2010, 31 Dec 2011, 31 Dec 2012 and
the Maturity Date (or if such date does not fall on a Business
Day, the next Business Day).
“Maturity” falls on 31 Dec 2013 (or if such date does not
fall on a Business Day, the next Business Day).
FUND INFORMATION
Capital raised less all charges deducted is invested
in notes (the “Signum Notes”) issued by Signum Platinum
Limited (“SPL”), which are rated at a minimum rating of
“AA” by Standard & Poor’s on the Inception Date. The tranche
in the reference portfolio which SPL has exposure has an
initial loss protection level of 11.00% of the initial reference
portfolio amount on the Inception Date.
FUND FACTS
Inception Date 31 Dec 2006
Investment Tenure
7 Years
Fund Manager
Lion Global Investors Limited
Initial Management Fee 5.00% of Single Premium
deducted upfront
Annual Management Fee 0.458% of the Original
Principal Amount less any par
redemptions, deducted at the
beginning of each policy year
from value of the Fund
Currency of Fund
Singapore Dollar
Valuation frequency
Last Business Day of each
month
Dealing Deadline
2 p.m, 5 Business Days prior
to the Next Valuation Date
Minimum holding amount $1,000
Minimum realization amount In multiples of 1,000 units
Fund Size
$ 0.01 mil
Benchmark Index
7-year Singapore swap rate
(mid rate) taken on the start
of the initial offer period on 1
November 2006, i.e. 3.465%
Fund Price $0.255
5 th Annual Payout 31 Dec 11 - $0.046 per unit
COLLATERAL
The Collateral was held in cash since 30 October 2009.
UPDATES TO GREATLINK CHOICE (DEC 2013) FUND AS AT 30 JUNE 2012
No. of Credit Events (cumulative) 17
No. of Substitutions (cumulative) 81
Cumulative (Loss)/Gain -10.756%
Loss Protection (or Subordination) Level 0.244%
Tranche Rating
Initial
AA
Current
CC
Fund Price $0.255
Note: Cumulative (Loss)/Gain and Loss Protection (or Subordination) Level is expressed as a percentage of initial reference portfolio amount.
42

Others
GREATLINK CHOICE (DEC 2013) FUND report as at 30 June 2012
DETAILS OF EVENTS
CREDIT EVENT
Date Reference Entity Exposure Loss
15 Sep 08 Lehman Brothers Holdings
0.86% 0.602%
Inc.
26 Sep 08 Washington Mutual Inc. 0.86% 0.602%
7 Oct 08 Glitnir Banki HF 0.86% 0.602%
7 Oct 08 Landsbanki Islands HF 0.86% 0.602%
9 Oct 08 Kaupthing Bank HF 0.86% 0.602%
8 Dec 08 Tribune Co. 0.86% 0.602%
18 Mar 09 Abitibi-Consolidated Inc. 0.86% 0.602%
31 Mar 09 Idearc Inc. 1.03% 0.721%
28 Apr 09 Bank TuranAlem 0.77% 0.539%
15 May 09 R.H. Donnelley Corporation 1.03% 0.721%
28 May 09 Visteon Corporation 0.86% 0.602%
1 Nov 09 CIT Group Inc. 1.03% 0.721%
1 Dec 09 Financial Guaranty Insurance
0.86% 0.602%
Company
24 Dec 09 AIFUL Corporation 0.86% 0.602%
8 Nov 10 AMBAC Financial Group Inc. 1.03% 0.721%
23 Nov 11 The PMI Group Inc. 0.86% 0.602%
14 May 12 Residential Capital, LLC 1.03% 0.721%
As at 30 June 2012
(cumulative)
10.77%
SUBSTITUTION
Date Entity Removed /
Downsized
Entity Added / Upsized
Loss Protection
(or Subordination) Gain/
(Loss)
0.01%
As at 31 December 2011
(cumulative)
Jan – Jun – – –
As at 30 June 2012
0.01%
(cumulative)
43

GREATLINK CHOICE (DEC 2013) FUND report as at 30 June 2012
REFERENCE ENTITIES AS AT 30 JUNE 2012
Others
44
No. Reference Entity Seniority S&P Industry Country
1 AGILE PROPERTY HOLDINGS LIMITED Senior Building & Development China
2 AMP GROUP HOLDINGS LIMITED Senior Insurance Australia
3 AMR CORPORATION Senior Air transport USA
4 AROMATICS (THAILAND) PUBLIC CO LTD Senior Chemicals & plastics Thailand
5 ARVINMERITOR, INC. Senior Automotive USA
6 ASSURED GUARANTY CORP. Senior Insurance USA
7 AUTOZONE, INC. Senior Retailers (except food & drug) USA
8 AVIS BUDGET GROUP, INC. Senior Equipment leasing USA
9 BEAZER HOMES USA, INC. Senior Building & Development USA
10 BHP BILLITON LIMITED Senior Nonferrous metals/minerals Australia
11 BRITISH TELECOMMUNICATIONS PUBLIC Senior Telecommunications United Kingdom
LIMITED COMPANY
12 BRUNSWICK CORPORATION Senior Leisure goods/activities/movies USA
13 CAPITAL ONE BANK - SENIOR Senior Financial intermediaries USA
14 CATHAY FINANCIAL HOLDING CO., LTD. Senior Insurance Taiwan
15 CHAODA MODERN AGRICULTURE (HOLDINGS) Senior Food products China
LTD
16 CITADEL FINANCE LTD. Senior Brokers, Dealers & Investment USA
houses
17 CITIGROUP INC. - SENIOR Senior Financial intermediaries USA
18 CNOOC LIMITED Senior Oil & gas China
19 COMMONWEALTH BANK OF AUSTRALIA - Senior Financial intermediaries Australia
SENIOR
20 COMPUTER SCIENCES CORPORATION Senior Business equipment & services USA
21 CONTINENTAL AG Senior Automotive Germany
22 COUNTRY GARDEN HOLDINGS COMPANY Senior REITs and REOCs China
LIMITED
23 COUNTRYWIDE HOME LOANS, INC Senior Financial intermediaries USA
24 DEVELOPERS DIVERSIFIED REALTY
Senior REITs and REOCs USA
CORPORATION
25 DILLARD'S, INC. Subordinated Retailers (except food & drug) USA
26 DUKE REALTY LIMITED PARTNERSHIP Senior REITs and REOCs USA
27 ERP OPERATING LIMITED PARTNERSHIP Senior REITs and REOCs USA
28 EXPERIAN FINANCE PLC Senior Retailers (except food & drug) United Kingdom
29 FINANCIAL SECURITY ASSURANCE INC. Senior Insurance USA
30 FIRST DATA CORPORATION Senior Business equipment & services USA
31 FREESCALE SEMICONDUCTOR INC. Senior Electronics/electrical USA
32 GANNETT CO., INC Senior Publishing USA
33 GMAC LLC Senior Automotive USA
34 GPT RE LIMITED AS RESPONSIBLE ENTITY OF Senior REITs and REOCs Australia
THE GENERAL PROPERTY TRUST
35 GREENTOWN CHINA HOLDINGS LTD Senior Building & Development China
36 HANNOVER RUECKVERSICHERUNG AG - Subordinated Insurance Germany
SUBORDINATED
37 HARRAH'S OPERATING COMPANY, INC. Senior Lodging & casinos USA

GREATLINK CHOICE (DEC 2013) FUND report as at 30 June 2012
No. Reference Entity Seniority S&P Industry Country
38 HCP INC Senior REITs and REOCs USA
39 HOPSON DEVELOPMENT HOLDINGS LIMITED Senior Building & Development China
40 HSBC FINANCE CORPORATION Senior Financial intermediaries USA
41 HUTCHISON WHAMPOA LIMITED Senior Conglomerates Hong Kong
42 ICELAND (REPUBLIC OF) Senior Sovereign Iceland
43 ISTAR FINANCIAL INC Senior REITs and REOCs USA
44 JETBLUE AIRWAYS CORPORATION Senior Air transport USA
45 JSC VNESHTORGBANK Senior Financial intermediaries Russia
46 K. HOVNANIAN ENTERPRISES INC. Senior Building & Development USA
47 KAZKOMMERTSBANK Senior Financial intermediaries Kazakhstan
48 KB HOME - SUBORDINATED Subordinated Building & Development USA
49 KELDA GROUP LTD^ Senior Utilities United Kingdom
50 KONINKLIJKE KPN NV Senior Telecommunications Netherlands
51 KOREA ELECTRIC POWER CORPORATION Senior Utilities South Korea
52 KT CORPORATION Senior Telecommunications South Korea
53 MACQUARIE BANK LIMITED - SUBORDINATED Subordinated Financial intermediaries Australia
54 MALAYAN BANKING BERHAD - SENIOR Senior Financial intermediaries Malaysia
55 MALAYSIA Senior Sovereign Malaysia
56 MBIA INC. Senior Insurance USA
57 MEDIACOM LLC Senior Cable & Satellite Television USA
58 MERITAGE HOMES CORPORATION Senior Building & Development USA
59 MERRILL LYNCH & CO., INC Senior Brokers, Dealers & Investment USA
houses
60 MGIC INVESTMENT CORPORATION Senior Insurance USA
61 MORGAN STANLEY Senior Brokers, Dealers & Investment USA
houses
62 NOBLE GROUP LIMITED Senior Conglomerates Hong Kong
63 NORBORD INC. Senior Forest products Canada
64 NORSKE SKOGINDUSTRIER ASA Senior Forest products Norway
65 OMNICARE, INC. - SUBORDINATED Subordinated Health care USA
66 OPEN JOINT STOCK COMPANY GAZPROM Senior Oil & gas Russia
67 ORIX CORPORATION Senior Equipment leasing Japan
68 PHH CORPORATION Senior Business equipment & services USA
69 POSCO Senior Steel South Korea
70 PROLOGIS Senior REITs and REOCs USA
71 QATAR (STATE OF) Senior Sovereign Qatar
72 R.R. DONNELLEY & SONS COMPANY Senior Publishing USA
73 RADIAN GROUP INC. Senior Insurance USA
74 REALOGY CORPORATION Senior Building & Development USA
75 REPUBLIC OF SOUTH AFRICA Senior Sovereign South Africa
76 RIO TINTO LIMITED Senior Nonferrous metals/minerals Australia
77 ROAD KING INFRASTRUCTURE LIMITED Senior Building & Development Hong Kong
78 SERVICEMASTER CO. (THE) Senior Retailers (except food & drug) USA
79 SHIMAO PROPERTY HOLDINGS LTD. Senior Building & Development Hong Kong
80 SHINHAN BANK - SUBORDINATED Subordinated Financial intermediaries South Korea
81 SLM CORPORATION Senior Financial intermediaries USA
Others
45

GREATLINK CHOICE (DEC 2013) FUND report as at 30 June 2012
Others
No. Reference Entity Seniority S&P Industry Country
82 SOUTHWEST AIRLINES CO. Senior Air transport USA
83 SUMITOMO MITSUI BANKING CORPORATION - Subordinated Financial intermediaries Japan
SUBORDINATED
84 TELECOM CORPORATION OF NEW ZEALAND Senior Telecommunications New Zealand
LIMITED
85 TELEFONAKTIEBOLAGET L M ERICSSON Senior Telecommunications Sweden
86 TELSTRA CORPORATION LIMITED Senior Telecommunications Australia
87 TEMASEK HOLDINGS (PRIVATE) LIMITED Senior Sovereign Singapore
88 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. - Subordinated Financial intermediaries Japan
SUBORDINATED
89 THE BEAR STEARNS COMPANIES INC. Senior Brokers, Dealers & Investment USA
houses
90 THE MCCLATCHY COMPANY Senior Publishing USA
91 THE WESTERN UNION COMPANY Senior Business equipment & services USA
92 TOYOTA MOTOR CREDIT CORPORATION Senior Automotive USA
93 TRW AUTOMOTIVE INC. Senior Automotive USA
94 VORNADO REALTY L.P. Senior REITs and REOCs USA
95 WESTFIELD TRUST, WESTFIELD MANAGEMENT Senior Building & Development Australia
LIMITED, TRUSTEE
96 WOOLWORTHS LTD Senior Food/drug retailers Australia
97 WOORI BANK - SUBORDINATED Subordinated Financial intermediaries South Korea
98 XL CAPITAL LTD Senior Insurance Bermuda
99 YORKSHIRE WATER SERVICES FINANCE PLC^ Senior Utilities United Kingdom
100 LEHMAN BROTHERS HOLDINGS INC. Senior Brokers, Dealers & Investment USA
houses
101 WASHINGTON MUTUAL, INC. – SENIOR Senior Financial intermediaries USA
102 GLITNIR BANKI HF. Senior Financial intermediaries Iceland
103 LANDSBANKI ISLANDS HF Senior Financial intermediaries Iceland
104 KAUPTHING BANK HF Senior Financial intermediaries Iceland
105 TRIBUNE CO. Senior Publishing USA
106 ABITIBI-CONSOLIDATED INC. Senior Forest products Canada
107 IDEARC INC Senior Publishing USA
108 JSC BANK TURANALEM Senior Financial intermediaries Kazakhstan
109 R.H. DONNELLEY CORPORATION Senior Publishing USA
110 VISTEON CORPORATION Senior Automotive USA
111 CIT GROUP INC Senior Financial intermediaries USA
112 FINANCIAL GUARANTY INSURANCE COMPANY Senior Insurance USA
-- NO R
113 AIFUL CORPORATION Senior Financial intermediaries Japan
114 AMBAC FINANCIAL GROUP INC Senior Insurance USA
115 THE PMI GROUP, INC Senior Insurance USA
116 RESIDENTIAL CAPITAL, LLC Senior Financial intermediaries USA
Defaulted Reference Entities
46

Others
GREATLINK CHOICE (DEC 2013) FUND report as at 30 June 2012
^ Kelda Group Ltd was previously known as Kelda Group PLC. A split Succession Event had taken
place, whereby Yorkshire Water Services Finance PLC and Kelda Group Ltd would each be Successors
to Kelda Group PLC. Post the Succession Event, the portfolio’s original holding for Kelda Group PLC
was split equally (in terms of notional amount) into Kelda Group Ltd and Yorkshire Water Services
Finance PLC.
Footnotes:
1. Policyholders will have to hold their investments in the GreatLink Choice for the entire policy term
of 7 years before they are eligible to receive the total payouts projected and 100% of their principal
invested at maturity. If policyholders realise their units before the fund matures, the realisation of units
will be based on the prevailing unit price which can vary according to market fluctuations and may be
less than the initial offer price of the units.
The annual payouts and return of principal invested are provided for by debt securities and derivative
transactions employed as part of the investment approach of the funds and not backed by a guarantee.
Policyholders may lose part or all of their investment in the funds in the event there is a downgrade of
the debt securities, default by the issuers of the debt securities, a default of the swap counterparty to
the derivative transactions, an early redemption of the Note, or credit events/trading actions resulting
in cumulative losses that exceed the initial loss protection level (as defined in the portfolio credit
default swap agreement). As such, no guarantee is given that policyholders will receive their principal
invested at maturity or the payouts at each policy anniversary.
2. No refund of the management fees will be made to policyholders who realise their units before the
fund matures. The management fees will not affect the annual payouts and maturity benefi t.
3. During the policy term of the Fund, the Fund Manager may, where the Fund Manager considers
it to be in the interest of policyholders, substitute existing Reference Entities with new Reference
Entities (each such substitution, a “Replacement”). Replacements may give rise to trading losses
or trading gains, which shall be adjusted against the loss protection level.
4. The default risk, liquidation risk, foreign currency risk, and early redemption risk on the Collateral
will be borne by Goldman Sachs International (“GSI”) under the obligation of a Total Return Swap
between SPL and GSI. GSI will have the right to effect Collateral Substitution subject to such
Collateral has to be rated at least “AAA” by S&P or “Aaa” by Moody’s. Any capital gains/losses in
proceeds and expenses incurred following a Collateral substitution will be borne by GSI, Similarly
for Collateral amortization and Collateral maturity.
For disclaimer, please refer to page 6. 47

GREATLINK LIFESTYLE DYNAMIC PORTFOLIO report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Funds
GreatLink Global Opportunities Fund 5,427,624 28.12
GreatLink Global Equity Alpha Fund 4,781,376 24.77
GreatLink ASEAN Growth Fund 4,967,144 25.74
GreatLink Enhancer Fund 4,124,760 21.37
19,300,904 100.00
Top 10 Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
GreatLink Global Opportunities Fund 5,427,624 28.12
GreatLink Global Equity Alpha Fund 4,781,376 24.77
Keppel Corporation Ltd 316,811 1.64
United Overseas Bank Ltd 280,616 1.45
DBS Group Holdings Ltd 238,506 1.24
Kasikornbank PCL 189,189 0.98
Singtel 181,836 0.94
Australia & New Zealand Banking Group 174,423 0.90
BHP Billiton Ltd 173,930 0.90
Astra International TBK PT 173,209 0.90
Top 10 Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
GreatLink Global Opportunities Fund 5,265,387 26.46
GreatLink Global Equity Alpha Fund 4,968,744 24.96
United Overseas Bank Ltd 274,051 1.38
Keppel Corporation Ltd 269,687 1.35
DBS Group Holdings Ltd 224,262 1.13
Noble Group Ltd 209,683 1.05
Hyundai Motor Company 172,108 0.86
Kasikornbank PCL 155,663 0.78
Singapore Exchange 152,466 0.77
BHP Billiton Ltd 150,540 0.76
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink LifeStyle Dynamic Portfolio 1.70% 1.70% 51.90% 58.63%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Foreign Exchange Contracts 19 0.00
ii) Net gain on derivative realised 100
Funds Information
iii) Net gain on outstanding derivatives 19
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 944,579
Redemptions 517,737
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
48

GREATLINK LIFESTYLE PROGRESSIVE PORTFOLIO report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Funds
GreatLink Global Bond Fund 11,672,489 22.33
GreatLink Global Opportunities Fund 11,274,840 21.56
GreatLink Global Equity Alpha Fund 10,020,686 19.17
GreatLink ASEAN Growth Fund 10,872,118 20.79
GreatLink Enhancer Fund 8,444,110 16.15
52,284,243 100.00
Top 10 Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
GreatLink Global Opportunities Fund 11,274,840 21.56
GreatLink Global Equity Alpha Fund 10,020,686 19.17
Keppel Corporation Ltd 680,652 1.30
United Overseas Bank Ltd 614,213 1.17
DBS Group Holdings Ltd 522,044 1.00
Government National Mortgage A 3.000 435,683 0.83
9/15/2041
TSY Infl IX N/B 0.125 15/1/2022 425,452 0.81
Kasikornbank PCL 414,097 0.79
Singtel 398,005 0.76
Astra International TBK PT 379,122 0.73
Top 10 Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
GreatLink Global Opportunities Fund 10,669,046 20.98
GreatLink Global Equity Alpha Fund 10,129,220 19.92
United Overseas Bank Ltd 585,251 1.15
Keppel Corporation Ltd 575,930 1.13
DBS Group Holdings Ltd 478,923 0.94
Noble Group Ltd 447,790 0.88
Hyundai Motor Company 340,601 0.67
Kasikornbank PCL 332,426 0.65
Singapore Exchange 325,598 0.64
Fosse Master Issuer PLC Floating
18/10/2054
298,360 0.59
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink LifeStyle Progressive Portfolio 1.53% 1.53% 51.76% 65.71%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Foreign Exchange Contracts (94,084) (0.18)
Futures (20,018) (0.04)
ii) Net gain on derivative realised 222,851
iii) Net loss on outstanding derivatives (129,107)
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 3,079,088
Redemptions 928,701
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
Funds Information
49

GREATLINK LIFESTYLE BALANCED PORTFOLIO report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Funds
GreatLink Global Bond Fund 138,854,435 37.63
GreatLink Global Opportunities Fund 59,289,903 16.07
GreatLink Global Equity Alpha Fund 51,947,904 14.08
GreatLink ASEAN Growth Fund 57,798,235 15.66
GreatLink Enhancer Fund 41,721,596 11.31
GreatLink Stable Bond Fund 19,353,845 5.25
368,965,918 100.00
Top 10 Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
GreatLink Global Opportunities Fund 59,289,903 16.07
GreatLink Global Equity Alpha Fund 51,947,904 14.08
GreatLink Stable Bond Fund 19,353,845 5.25
Government National Mortgage A 3.000 5,182,826 1.40
9/15/2041
TSY Infl IX N/B 0.125 15/1/2022 5,061,122 1.37
Fannie Mae 3.000 25/4/2042 4,384,980 1.19
United States Of America 4.500
3,770,648 1.02
15/08/2039
United Overseas Bank Ltd 3,265,274 0.88
US Treasury N/B 2.000 15/11/2021 3,250,674 0.88
FMS Wertmanagement 2.250 14/07/2014 2,808,606 0.76
Top 10 Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
GreatLink Global Opportunities Fund 61,224,366 15.96
GreatLink Global Equity Alpha Fund 57,861,935 15.08
GreatLink Stable Bond Fund 19,647,217 5.12
Fosse Master Issuer PLC Floating
3,871,441 1.01
18/10/2054
United Overseas Bank Ltd 3,404,907 0.89
Keppel Corporation Ltd 3,350,680 0.87
Government Of Canada 1.500 01/03/2012 3,265,694 0.85
Fannie Mae 4.5000 01/05/2023 3,178,141 0.83
DBS Group Holdings Ltd 2,786,310 0.73
Bear Stearns Cos LLC 6.400 02/10/2017 2,737,101 0.71
The GreatLink Lifestyle Balanced Portfolio invested more than 30% of its assets in the GreatLink Global Bond Fund. The following are the top 10 holdings
in the GreatLink Global Bond:
Funds Information
Top 10 Holdings of Underlying Fund
as at 30 June 2012
Market Value
S$
% of Net
Assets
Government National Mortgage A 3.000 9,215,371 3.73
9/15/2041
TSY Infl IX N/B 0.125 15/1/2022 8,998,974 3.64
Fannie Mae 3.000 25/4/2042 7,796,754 3.16
United States Of America 4.500
6,704,435 2.72
15/08/2039
US Treasury N/B 2.000 15/11/2021 5,779,890 2.34
FMS Wertmanagement 2.250 14/07/2014 4,993,867 2.02
United States Of America 1.125
4,757,515 1.93
15/01/2021
Bear Stearns Cos LLC 6.400 02/10/2017 4,680,007 1.90
Federal Republic Of Germany 5.625
4,322,614 1.75
04/01/2028
Commonwealth Of Australia 4.750
15/06/2016
4,228,806 1.71
Top 10 Holdings of Underlying Fund
as at 30 June 2011
Market Value
S$
% of Net
Assets
Fosse Master Issuer PLC Floating
6,347,692 2.94
18/10/2054
Government Of Canada 1.500 01/03/2012 5,354,497 2.48
Fannie Mae 4.5000 01/05/2023 5,210,943 2.42
Bear Stearns Cos LLC 6.400 02/10/2017 4,487,805 2.08
Gracechurch Card PLC 1.851 15/01/2016 4,274,272 1.98
Fannie Mae 4.000 01/07/2025 4,158,183 1.93
United Kingdom 3.75 07/09/2019 4,119,260 1.91
Federal Republic Of Germany 5.625
4,099,746 1.90
04/01/2028
Government Of Canada 2.000 01/08/2013 3,975,827 1.84
Holmes Master Issuer PLC 2.339
15/10/2054
3,931,228 1.82
50

Funds Information
GREATLINK LIFESTYLE BALANCED PORTFOLIO report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink LifeStyle Balanced Portfolio 1.36% 1.36% 50.51% 70.19%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Foreign Exchange Contracts (1,119,488) (0.30)
Futures (238,125) (0.06)
ii) Net gain on derivative realised 2,649,589
iii) Net loss on outstanding derivatives (1,536,113)
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 3,672,273
Redemptions 9,787,006
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
51

GREATLINK LIFESTYLE STEADY PORTFOLIO report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Funds
GreatLink Global Bond Fund 15,449,730 52.66
GreatLink Global Opportunities Fund 3,069,924 10.46
GreatLink Global Equity Alpha Fund 2,676,591 9.12
GreatLink ASEAN Growth Fund 3,255,938 11.11
GreatLink Enhancer Fund 1,888,466 6.44
GreatLink Stable Bond Fund 2,995,689 10.21
29,336,338 100.00
Top 10 Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
GreatLink Global Opportunities Fund 3,069,924 10.46
GreatLink Stable Bond Fund 2,995,689 10.21
GreatLink Global Equity Alpha Fund 2,676,591 9.12
Government National Mortgage A 3.000 576,671 1.97
9/15/2041
TSY Infl IX N/B 0.125 15/1/2022 563,129 1.92
Fannie Mae 3.000 25/4/2042 487,898 1.66
United States Of America 4.500
419,544 1.43
15/08/2039
US Treasury N/B 2.000 15/11/2021 361,688 1.23
FMS Wertmanagement 2.250 14/07/2014 312,501 1.07
United States Of America 1.125
15/01/2021
297,711 1.01
Top 10 Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
GreatLink Global Opportunities Fund 3,319,782 10.67
GreatLink Stable Bond Fund 3,187,267 10.24
GreatLink Global Equity Alpha Fund 3,139,480 10.09
Fosse Master Issuer PLC Floating
451,194 1.45
18/10/2054
Government Of Canada 1.500 01/03/2012 380,598 1.22
Fannie Mae 4.5000 01/05/2023 370,394 1.19
Bear Stearns Cos LLC 6.400 02/10/2017 318,993 1.02
Gracechurch Card PLC 1.851 15/01/2016 303,815 0.98
Fannie Mae 4.000 01/07/2025 295,564 0.95
United Kingdom 3.75 07/09/2019 292,797 0.94
The GreatLink Lifestyle Steady Portfolio invested more than 30% of its assets in the GreatLink Global Bond Fund. The following are the top 10 holdings in
the GreatLink Global Bond:
Funds Information
Top 10 Holdings of Underlying Fund
as at 30 june 2012
Market Value
S$
% of Net
Assets
Government National Mortgage A 3.000 9,215,371 3.73
9/15/2041
TSY Infl IX N/B 0.125 15/1/2022 8,998,974 3.64
Fannie Mae 3.000 25/4/2042 7,796,754 3.16
United States Of America 4.500
6,704,435 2.72
15/08/2039
US Treasury N/B 2.000 15/11/2021 5,779,890 2.34
FMS Wertmanagement 2.250 14/07/2014 4,993,867 2.02
United States Of America 1.125
4,757,515 1.93
15/01/2021
Bear Stearns Cos LLC 6.400 02/10/2017 4,680,007 1.90
Federal Republic Of Germany 5.625
4,322,614 1.75
04/01/2028
Commonwealth Of Australia 4.750
15/06/2016
4,228,806 1.71
Top 10 Holdings of Underlying Fund
as at 30 June 2011
Market Value
S$
% of Net
Assets
Fosse Master Issuer PLC Floating
6,347,692 2.94
18/10/2054
Government Of Canada 1.500 01/03/2012 5,354,497 2.48
Fannie Mae 4.5000 01/05/2023 5,210,943 2.42
Bear Stearns Cos LLC 6.400 02/10/2017 4,487,805 2.08
Gracechurch Card PLC 1.851 15/01/2016 4,274,272 1.98
Fannie Mae 4.000 01/07/2025 4,158,183 1.93
United Kingdom 3.75 07/09/2019 4,119,260 1.91
Federal Republic Of Germany 5.625
4,099,746 1.90
04/01/2028
Government Of Canada 2.000 01/08/2013 3,975,827 1.84
Holmes Master Issuer PLC 2.339
15/10/2054
3,931,228 1.82
52

Funds Information
GREATLINK LIFESTYLE STEADY PORTFOLIO report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink LifeStyle Steady Portfolio 1.17% 1.18% 49.26% 74.67%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains
or losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and
other distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Foreign Exchange Contracts (124,573) (0.42)
Futures (26,495) (0.09)
ii) Net gain on derivative realised 294,741
iii) Net loss on outstanding derivatives (170,929)
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 528,735
Redemptions 1,967,492
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
53

GREATLINK LIFESTYLE SECURE PORTFOLIO report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Funds
GreatLink Global Bond Fund 35,028,972 60.93
GreatLink Global Opportunities Fund 2,952,337 5.14
GreatLink Global Equity Alpha Fund 2,653,450 4.62
GreatLink ASEAN Growth Fund 3,285,599 5.71
GreatLink Enhancer Fund 2,026,886 3.52
GreatLink Stable Bond Fund 11,544,043 20.08
57,491,287 100.00
Top 10 Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
GreatLink Stable Bond Fund 11,544,043 20.08
GreatLink Global Opportunities Fund 2,952,337 5.14
GreatLink Global Equity Alpha Fund 2,653,450 4.62
Government National Mortgage A 3.000 1,307,478 2.27
9/15/2041
TSY Infl IX N/B 0.125 15/1/2022 1,276,775 2.22
Fannie Mae 3.000 25/4/2042 1,106,204 1.92
United States Of America 4.500
951,226 1.65
15/08/2039
US Treasury N/B 2.000 15/11/2021 820,051 1.43
FMS Wertmanagement 2.250 14/07/2014 708,530 1.23
United States Of America 1.125
15/01/2021
674,997 1.17
Top 10 Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
GreatLink Stable Bond Fund 9,775,741 20.74
GreatLink Global Opportunities Fund 2,512,584 5.33
GreatLink Global Equity Alpha Fund 2,381,606 5.05
Fosse Master Issuer PLC Floating
811,927 1.72
18/10/2054
Government Of Canada 1.500 01/03/2012 684,888 1.45
Fannie Mae 4.5000 01/05/2023 666,527 1.41
Bear Stearns Cos LLC 6.400 02/10/2017 574,031 1.22
Gracechurch Card PLC 1.851 15/01/2016 546,718 1.16
Fannie Mae 4.000 01/07/2025 531,869 1.13
United Kingdom 3.75 07/09/2019 526,890 1.12
The GreatLink Lifestyle Secure Portfolio invested more than 30% of its assets in the GreatLink Global Bond Fund. The following are the top 10 holdings in
the GreatLink Global Bond:
Funds Information
Top 10 Holdings of Underlying Fund
as at 30 June 2012
Market Value
S$
% of Net
Assets
Government National Mortgage A 3.000 9,215,371 3.73
9/15/2041
TSY Infl IX N/B 0.125 15/1/2022 8,998,974 3.64
Fannie Mae 3.000 25/4/2042 7,796,754 3.16
United States Of America 4.500
6,704,435 2.72
15/08/2039
US Treasury N/B 2.000 15/11/2021 5,779,890 2.34
FMS Wertmanagement 2.250 14/07/2014 4,993,867 2.02
United States Of America 1.125
4,757,515 1.93
15/01/2021
Bear Stearns Cos LLC 6.400 02/10/2017 4,680,007 1.90
Federal Republic Of Germany 5.625
4,322,614 1.75
04/01/2028
Commonwealth Of Australia 4.750
15/06/2016
4,228,806 1.71
Top 10 Holdings of Underlying Fund
as at 30 June 2011
Market Value
S$
% of Net
Assets
Fosse Master Issuer PLC Floating 18/10/2054 6,347,692 2.94
Government Of Canada 1.500 01/03/2012 5,354,497 2.48
Fannie Mae 4.5000 01/05/2023 5,210,943 2.42
Bear Stearns Cos LLC 6.400 02/10/2017 4,487,805 2.08
Gracechurch Card PLC 1.851 15/01/2016 4,274,272 1.98
Fannie Mae 4.000 01/07/2025 4,158,183 1.93
United Kingdom 3.75 07/09/2019 4,119,260 1.91
Federal Republic Of Germany 5.625
4,099,746 1.90
04/01/2028
Government Of Canada 2.000 01/08/2013 3,975,827 1.84
Holmes Master Issuer PLC 2.339 15/10/2054 3,931,228 1.82
54

Funds Information
GREATLINK LIFESTYLE SECURE PORTFOLIO report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink LifeStyle Secure Portfolio 1.00% 1.01% 46.89% 76.56%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Foreign Exchange Contracts (282,457) (0.49)
Futures (60,072) (0.10)
ii) Net gain on derivative realised 668,214
iii) Net loss on outstanding derivatives (387,560)
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 3,449,642
Redemptions 3,468,919
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
55

GREATLINK CASH FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
Hutchison Whamp Intl Ltd 6.500
3,791,666 3.26
13/02/2013
Ascott Capital Pte Ltd 4.380 14/08/2012 3,761,906 3.24
Housing & Development Brd 1.550
3,259,246 2.81
26/10/2012
Citydev Nahdah Pte Ltd 3.5650 15/12/2013 2,037,586 1.75
Maybank Kim Eng Holdings 1.7 21/6/2013 2,001,388 1.72
SP Powerassets Ltd 5.000 22/10/2013 1,992,828 1.72
Bank Of China/Hong Kong 1.5500
1,752,214 1.51
23/11/2012
Mapletree Treasury Svcs 4.600 20/08/2013 1,544,597 1.33
Export-Import Bk Korea 1.45 10/24/2012 1,503,269 1.29
Kookmin Bank 1.7 10/15/2012 1,503,236 1.29
Allocation By Country Market Value % of Net
S$ Assets
Cayman Islands 3,791,667 3.26
China 2,251,667 1.94
Singapore 23,436,617 20.18
South Korea 11,060,611 9.52
Others ** 75,212,470 64.76
Accrued interest receivable on fi xed Income 392,437 0.34
securities
Total 116,145,469 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Fixed income securities (including accrued 41,967,077 36.13
interest on fi xed income securities)
Derivatives (33,765) (0.03)
Embedded Derivatives 10,909,658 9.39
Cash and cash equivalents 64,080,411 55.17
Other net liabilities (777,912) (0.66)
Total 116,145,469 100.00
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
CDL Properties Ltd 3.850 12/10/2011 3,278,548 3.22
Singapore Airlines Ltd 4.150 19/12/2011 3,048,846 2.99
United Overseas Land Ltd Floating
2,987,040 2.93
15/05/2012
Petronas Capital Ltd 7.000 22/05/2012 2,652,789 2.60
Hana Bank 6.500 09/04/2012 2,546,493 2.50
Federation Of Malaysia 7.500 15/07/2011 2,460,647 2.41
Kim Eng Holdings 2.200 21/10/2011 2,256,602 2.21
BNP Paribas 0.810 23/08/2011 2,249,946 2.21
BOC Aviation 2.000 13/09/2011 2,000,336 1.96
Ascott Capital Pte Ltd 4.700 07/07/2011 1,500,531 1.47
Allocation By Industry Market Value % of Net
S$ Assets
Brokers, Dealers & Investment Houses 2,001,388 1.72
Building & Development 2,509,600 2.16
Conglomerates 3,791,667 3.26
Financial Intermediaries 19,350,336 16.66
Government Agency 7,326,308 6.31
Reits And Reocs 1,928,434 1.66
Utilities 3,255,835 2.80
Others ** 75,589,464 65.09
Accrued interest receivable on fi xed Income 392,437 0.34
securities
Total 116,145,469 100.00
** Includes any other industries and net current assets
Funds Information
Credit Rating of Debt Securities Market Value % of Net
(by S&P or equivalent) S$ Assets
AAA 4,272,065 3.68
AA 4,414,267 3.80
A+ 643,201 0.55
A 14,592,915 12.56
Not Rated 17,652,192 15.20
Accrued interest receivable on fi xed income 392,437 0.34
securities
41,967,077 36.13
Investments By Maturity Market Value % of Net
S$ Assets
Up to 30 Days 2,499,633 2.15
More than 30 Days to 3 Months 5,267,695 4.54
More than 3 Months to 6 Months 12,078,760 10.40
More than 6 Months to 1 Year 13,608,174 11.71
More than 1 Year 8,120,378 6.99
Accrued interest receivable on fi xed income 392,437 0.34
securities
41,967,077 36.13
56

Funds Information
GREATLINK CASH FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Cash Fund 0.32% 0.32% 41.27% 47.76%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Forward Foreign Exchange Contracts (33,764) (0.03)
ii) Net gain on derivative realised 30,669
iii) Net gain on outstanding derivatives 347,505
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 4,787,933
Redemptions 20,994,961
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
57

Funds Information
GREATLINK ASEAN GROWTH FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
United Overseas Bank Ltd 19,413,230 5.65
DBS Group Holdings Ltd 16,500,057 4.80
Keppel Corporation Ltd 15,671,860 4.56
Kasikornbank PCL 13,088,226 3.81
Singtel 12,579,600 3.66
Astra International TBK PT 11,982,775 3.49
UMW Holdings Bhd 10,302,760 3.00
Malayan Banking Bhd 9,886,325 2.88
Philippine LNG Distribution 8,352,116 2.43
CIMB Group Holdings Bhd 8,306,824 2.42
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
United Overseas Bank Ltd 19,923,363 5.44
Keppel Corporation Ltd 19,606,060 5.36
DBS Group Holdings Ltd 16,303,723 4.45
Noble Group Ltd 15,243,860 4.16
Kasikornbank PCL 11,316,594 3.09
Singapore Exchange 11,084,160 3.03
Thai Oil PCL 9,842,443 2.69
Malayan Banking Bhd 9,770,686 2.67
Singtel 9,258,800 2.53
Commerce Asset Holdings Bhd 8,633,467 2.36
Allocation By Country Market Value % of Net
S$ Assets
Indonesia 67,730,655 19.71
Malaysia 83,690,593 24.36
Philippines 15,115,837 4.40
Singapore 121,364,017 35.32
Thailand 46,841,007 13.63
Others ** 8,836,566 2.58
Total 343,578,675 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Equities 334,742,109 97.43
Derivatives 1,309 0.00
Cash and cash equivalents 9,456,968 2.75
Other net liabilities (621,711) (0.18)
Total 343,578,675 100.00
Credit Rating of Debt Securities Market Value % of Net
S$ Assets
Not applicable.
Allocation By Industry Market Value % of Net
S$ Assets
Automotive 10,302,760 3.00
Building & Development 23,910,212 6.96
Chemicals & Plastics 7,093,302 2.06
Conglomerates 25,811,360 7.51
Farming / Agriculture 15,750,150 4.58
Financial Intermediaries 117,962,167 34.33
Food Products 12,202,279 3.55
Industrial Equipment 5,255,180 1.53
Lodging & Casinos 16,419,478 4.78
Nonferrous Metals / Minerals 4,364,650 1.27
Oil & Gas 17,386,553 5.06
Reits And Reocs 6,009,190 1.75
Retailers 11,982,775 3.49
Surface Transport 6,701,054 1.95
Telecommunications 37,856,780 11.02
Utilities 6,585,368 1.92
Others ** 17,985,417 5.24
Total 343,578,675 100.00
** Includes any other industries and net current assets
58

Funds Information
GREATLINK ASEAN GROWTH FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink ASEAN Growth Fund 1.52% 1.54% 37.22% 70.14%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Forward Foreign Exchange Contacts 1,309 0.00
ii) Net loss on derivative realised (1,787)
iii) Net gain on outstanding derivatives 1,309
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 7,718,004
Redemptions 9,528,556
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
59

Funds Information
GREATLINK ENHANCER FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
Australia & New Zealand Banking Group 18,590,844 4.23
BHP Billiton Ltd 18,538,290 4.22
Samsung Electronics Co. Ltd 18,341,870 4.17
National Australia Bank Ltd 15,109,514 3.44
Taiwan Semiconductor Manufacturing 14,618,944 3.33
Company Ltd
Wesfarmers Ltd 13,241,823 3.01
CNOOC Ltd 10,711,519 2.44
Telstra Corporation Ltd 10,625,671 2.42
Rio Tinto Ltd 9,724,454 2.21
Keppel Corporation Ltd 9,622,080 2.19
Allocation By Country Market Value % of Net
S$ Assets
Australia 106,921,385 24.33
Hong Kong 116,830,590 26.58
India 21,964,461 5.00
Indonesia 13,967,237 3.18
Malaysia 10,972,479 2.50
Singapore 24,589,820 5.59
South Korea 75,176,863 17.10
Taiwan 42,532,938 9.68
Thailand 17,142,699 3.89
United States Of America 5,318,573 1.21
Others** 4,130,325 0.94
Total 439,547,370 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Equities 435,417,045 99.06
Cash and cash equivalents 3,579,632 0.81
Other net assets 550,693 0.13
Total 439,547,370 100.00
Credit Rating of Debt Securities Market Value % of Net
S$ Assets
Not applicable.
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
Hyundai Motor Company 19,081,154 3.72
BHP Billiton Ltd 16,689,971 3.25
Commonwealth Bank Of Australia 14,781,376 2.88
Australia & New Zealand Banking Group 14,571,819 2.84
China Construction Bank 14,520,426 2.83
Samsung Electronics Co. Ltd 14,236,711 2.77
China Shenhua Energy Company Ltd 12,630,859 2.46
Rio Tinto Ltd 11,232,685 2.19
Oil Search Ltd 10,415,534 2.03
LG Chem Ltd 10,336,763 2.01
Allocation By Industry Market Value % of Net
S$ Assets
Automotive 13,027,532 2.96
Beverage & Tobacco 4,974,710 1.13
Building & Development 29,302,396 6.67
Business Equipment & Services 31,194,959 7.10
Conglomerates 15,514,831 3.53
Cosmetics / Toiletries 6,625,665 1.51
Electronics / Electrical 53,938,053 12.27
Farming / Agriculture 6,748,660 1.54
Financial Intermediaries 90,673,955 20.63
Home Furnishings 4,914,874 1.12
Industrial Equipment 21,095,315 4.80
Insurance 16,359,388 3.72
Lodging & Casinos 8,344,032 1.90
Nonferrous Metals / Minerals 38,079,908 8.66
Oil & Gas 22,417,177 5.10
Reits And Reocs 12,778,260 2.91
Retailers 6,214,338 1.41
Surface Transport 4,985,837 1.13
Telecommunications 29,255,312 6.66
Utilities 4,872,050 1.10
Others** 18,230,118 4.15
Total 439,547,370 100.00
** Includes any other industries and net current assets
60

Funds Information
GREATLINK ENHANCER FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Enhancer Fund 1.52% 1.54% 82.41% 69.57%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Forward Foreign Exchange Contracts - 0.00
ii) Net gain on derivative realised 13,428
iii) Net gain on outstanding derivatives -
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 11,435,217
Redemptions 8,960,977
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
61

GREATLINK GLOBAL SUPREME FUND report as at 30 June 2012
Funds Information
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
US Treasury N/B 2.000 15/11/2021 10,114,808 2.95
United States Of America 3.125 11/15/2041 9,942,650 2.90
Buoni Poliennali Del Tes 5.5 1/9/2022 8,228,354 2.40
United States Of America 8.125 15/08/2021 8,158,444 2.38
United States Of America 4.500 15/08/2039 5,501,075 1.61
TSY Infl IX N/B 0.125 15/1/2022 5,181,228 1.51
United Mexican States 8.500 31/05/2029 5,009,616 1.46
United Kingdom 4.500 07/03/2013 4,148,796 1.21
US Treasury N/B 1.375 28/02/2019 4,010,528 1.17
Fosse Master Issuer PLC Floating 18/10/2054 3,792,156 1.11
Allocation By Country Market Value % of Net
S$ Assets
Australia 18,730,777 5.47
Canada 6,364,812 1.86
France 4,766,411 1.39
Germany 9,613,094 2.81
Italy 11,247,219 3.28
Japan 13,650,922 3.98
Mexico 6,273,634 1.83
Netherlands 6,399,067 1.87
Poland 3,474,219 1.01
South Korea 4,006,922 1.17
Switzerland 5,585,687 1.63
United Kingdom 29,473,838 8.60
United States Of America 192,573,333 56.20
Accrued interest receivable on fi xed income 1,915,615 0.56
securities
Others** 28,558,917 8.34
Total 342,634,467 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Equities 157,868,951 46.08
Fixed income securities (including accrued 179,643,955 52.43
interest on fi xed income securities)
Derivatives 477,395 0.14
Cash and cash equivalents 12,652,666 3.69
Other net liabilities (8,008,500) (2.34)
Total 342,634,467 100.00
Credit Rating of Debt Securities Market Value % of Net
(by S&P or equivalent) S$ Assets
AAA 34,922,228 10.19
AA 70,861,179 20.68
A 42,930,159 12.53
BBB 14,742,226 4.30
BB 1,117,762 0.33
B 196,695 0.06
Not Rated 12,958,091 3.78
Accrued interest receivable on fi xed Income 1,915,615 0.56
securities
179,643,955 52.43
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
French Republic 4.750 25/04/2035 14,696,027 4.28
United States Of America 8.125 15/08/2021 7,204,492 2.10
Government Of Canada 1.500 01/03/2012 5,481,985 1.60
United States Of America 4.250 15/11/2040 4,794,679 1.40
United Kingdom 3.750 07/09/2021 4,606,156 1.34
United States Of America 2.625 29/02/2016 4,497,331 1.31
Fosse Master Issuer PLC Floating
3,967,308 1.16
18/10/2054
United States Of America 2.750 15/02/2019 3,470,847 1.01
Exxon Mobil Corporation 3,388,677 0.99
New S Wales Treasury Crp 6.000
01/04/2016
2,801,122 0.82
Allocation By Industry Market Value % of Net
S$ Assets
Automotive 8,255,484 2.41
Beverage & Tobacco 3,931,957 1.15
Brokers, Dealers & Investment Houses 6,463,804 1.89
Building & Development 3,891,576 1.14
Business Equipment & Services 14,671,553 4.28
Chemicals & Plastics 6,369,739 1.86
Drugs 12,500,953 3.65
Electronics / Electrical 9,613,451 2.81
Farming / Agriculture 3,945,505 1.15
Financial Intermediaries 31,028,849 9.06
Food Products 3,878,690 1.13
Government Agency 9,387,907 2.74
Health Care 7,249,537 2.12
Industrial Equipment 4,942,754 1.44
Insurance 6,124,070 1.79
Nonferrous Metals / Minerals 3,760,548 1.10
Oil & Gas 20,788,763 6.07
Retailers 8,789,104 2.57
Rmbs A 6,547,048 1.91
Sovereign 99,915,948 29.16
State And Municipality 21,647,444 6.32
Surface Transport 4,354,028 1.27
Telecommunications 8,242,368 2.41
Accrued interest receivable on fi xed income 1,915,615 0.56
securities
Others** 34,417,772 10.01
Total 342,634,467 100.00
** Includes any other industries and net current assets
62

Funds Information
GREATLINK GLOBAL SUPREME FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Global Supreme Fund 1.39% 1.42% 136.59% 129.52%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Forward Foreign Exchange Contracts 466,145 0.14
Futures 5,678 -
Equity Options 5,572 -
ii) Net loss on derivative realised (4,402,533)
iii) Net gain on outstanding derivatives 1,482,098
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 2,135,818
Redemptions 8,897,250
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
63

Funds Information
GREATLINK PAN ASIA FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
Samsung Electronics Co. Ltd 559,236 2.72
Australia & New Zealand Banking Group 552,682 2.69
BHP Billiton Ltd 546,343 2.66
National Australia Bank Ltd 454,844 2.21
Taiwan Semiconductor Manufacturing
413,549 2.01
Co. Ltd
Wesfarmers Ltd 400,259 1.95
Telstra Corporation Ltd 341,377 1.66
CNOOC Ltd 334,499 1.63
Mitsubishi Tokyo Financial Group 319,274 1.55
China Minsheng Banking Corporation Ltd 311,345 1.52
Allocation By Country Market Value % of Net
S$ Assets
Australia 3,219,298 15.67
Hong Kong 3,595,034 17.50
India 647,510 3.15
Indonesia 430,935 2.10
Japan 7,120,061 34.66
Malaysia 337,607 1.64
Singapore 726,209 3.53
South Korea 2,207,821 10.75
Taiwan 1,236,839 6.02
Thailand 539,153 2.62
United States Of America 231,172 1.13
Others ** 251,797 1.23
Total 20,543,436 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Equities 20,291,640 98.77
Cash and cash equivalents 256,120 1.25
Other net liabilities (4,324) (0.02)
Total 20,543,436 100.00
Credit Rating of Debt Securities Market Value % of Net
S$ Assets
Not applicable.
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
Commonwealth Bank Of Australia 900,444 3.73
Noble Group Ltd 829,370 3.43
Australia & New Zealand Banking Group 670,802 2.78
BHP Billiton Ltd 626,882 2.60
Samsung Electronics Co. Ltd 588,843 2.44
Hysan Development Co. Ltd 564,140 2.34
KB Financial Group Inc. 516,784 2.14
ICBC 499,837 2.07
China Construction Bank 437,924 1.81
Hyundai Motor Co. 436,010 1.81
Allocation By Industry Market Value % of Net
S$ Assets
Automotive 1,538,171 7.49
Building & Development 1,298,785 6.32
Business Equipment & Services 1,652,064 8.04
Chemicals & Plastics 327,850 1.60
Conglomerates 458,234 2.23
Cosmetics / Toiletries 510,557 2.49
Drugs 481,696 2.34
Electronics / Electrical 2,680,213 13.05
Farming / Agriculture 215,910 1.05
Financial Intermediaries 3,738,989 18.20
Industrial Equipment 817,616 3.98
Insurance 496,793 2.42
Lodging & Casinos 243,272 1.18
Nonferrous Metals / Minerals 1,203,366 5.86
Oil & Gas 955,776 4.65
Reits And Reocs 382,507 1.86
Retailers 573,366 2.79
Surface Transport 573,756 2.79
Telecommunications 1,078,502 5.25
Others ** 1,316,013 6.41
Total 20,543,436 100.00
** Includes any other industries and net current assets
64

Funds Information
GREATLINK PAN ASIA FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Pan Asia Fund 1.53% 1.55% 101.49% 83.52%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Forward Foreign Exchange Contracts - -
ii) Net gain on derivative realised 317
iii) Net gain on outstanding derivatives -
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 387,614
Redemptions 735,973
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
65

GREATLINK GLOBAL EQUITY FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
Oracle Corporation 1,142,902 2.67
Apple Computer Inc. 1,086,782 2.54
Lorillard Inc. 940,409 2.19
Conocophillips 812,938 1.90
Humana Inc. 809,921 1.89
Novo-Nordisk A/S 713,749 1.67
Microsoft Corporation 673,267 1.57
Exxon Mobil Corporation 657,338 1.53
DirecTV 657,167 1.53
Google Inc. 643,713 1.50
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
E.ON AG 1,489,101 3.18
Microsoft Corporation 1,063,207 2.27
Eli Lilly & Co. 1,032,285 2.20
Lorillard Inc. 1,017,735 2.17
ConocopPhillips 879,742 1.88
DSM NV 846,589 1.81
BNP Paribas 821,306 1.75
Valero Energy Corporation 785,873 1.68
Simon Property Group Inc. 751,659 1.60
Ltd Brands Inc. 688,099 1.47
Allocation By Country Market Value % of Net
S$ Assets
Canada 2,620,870 6.12
Denmark 924,470 2.16
France 434,697 1.01
Germany 1,184,750 2.76
Hong Kong 1,171,979 2.73
Japan 3,954,924 9.23
Switzerland 820,726 1.92
United Kingdom 3,450,478 8.05
United States Of America 26,525,467 61.91
Others ** 1,763,286 4.11
Total 42,851,647 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Equities 41,923,898 97.83
Derivatives 36,913 0.09
Cash and cash equivalents 1,146,102 2.67
Other net liabilities (255,266) (0.59)
Total 42,851,647 100.00
Credit Rating of Debt Securities Market Value % of Net
S$ Assets
Not applicable.
Allocation By Industry Market Value % of Net
S$ Assets
Air Transport 498,851 1.16
Automotive 813,857 1.90
Beverage & Tobacco 2,401,303 5.60
Building & Development 460,861 1.08
Business Equipment & Services 4,679,133 10.92
Cable & Satellite Television 862,773 2.01
Chemicals & Plastics 1,141,014 2.66
Conglomerates 665,970 1.55
Cosmetics / Toiletries 744,050 1.74
Drugs 3,096,293 7.23
Electronics / Electrical 2,261,615 5.28
Financial Intermediaries 4,050,902 9.45
Food & Drug Retailers 521,289 1.22
Food Products 1,158,673 2.70
Health Care 1,678,974 3.92
Insurance 1,208,917 2.83
Lodging & Casinos 448,882 1.05
Nonferrous Metals / Minerals 875,489 2.04
Oil & Gas 5,521,075 12.88
Radio & Television 687,640 1.60
Rail Industries 524,931 1.22
Retailers 2,358,581 5.50
Surface Transport 566,959 1.32
Telecommunications 1,338,554 3.12
Utilities 1,677,399 3.93
Others ** 2,607,662 6.09
Total 42,851,647 100.00
Funds Information
** Includes any other industries and net current assets
66

Funds Information
GREATLINK GLOBAL EQUITY FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Global Equity Fund 1.65% 1.67% 188.45% 96.38%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Futures 36,913 0.08
ii) Net gain on derivative realised 104,395
iii) Net gain on outstanding derivatives 13,372
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 990,507
Redemptions 1,655,083
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
67

GREATLINK GLOBAL OPTIMUM FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
Alliancebernstein - Global Equity Blend 13,983,486 37.53
Portfolio Unit Trust
Japan 1.300 20/03/2019 1,664,891 4.47
Quebec Prov 1.600 09/05/2013 1,204,484 3.23
Japan 2.100 20/12/2030 1,088,004 2.92
Japan Fin Corp Muni Ent 1.900 22/06/2018 1,043,229 2.80
Bundesobligation 1.250 14/10/2016 1,003,250 2.69
Canadian Government 3.000 01/12/2015 863,638 2.32
France (Govt Of) 3 25/4/2022 710,718 1.91
US Treasury N/B 2.2500 31/3/2016 525,470 1.41
Ontario (Province Of) 2.950 05/02/2015 508,186 1.36
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
Alliancebernstein - Global Equity Blend 16,425,169 41.36
Portfolio Unit Trust
Japan 1.300 20/03/2019 1,907,597 4.80
Quebec Prov 1.600 09/05/2013 1,158,013 2.92
Japan Fin Corp Muni Ent 1.900 22/06/2018 983,792 2.48
Federal Republic Of Germany 4.000
889,386 2.24
13/04/2012
Canadian Government 3.000 01/12/2015 827,319 2.08
Kingdom Of The Netherlands 5.500
810,457 2.04
15/01/2028
Republic Of Singapore 2.250 01/07/2013 756,003 1.90
Federal Republic Of Germany 1.250
751,324 1.89
16/09/2011
Japan 2.100 20/12/2030 613,944 1.55
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2012^ US$ Assets
AllianceBernstein Global Equity Blend Portfolio
Apple Inc. 6,885,562 1.89
BP PLC 6,160,978 1.69
British American Tobacco PLC 5,401,304 1.48
JPMorgan Chase & Co. 4,975,342 1.37
Pfi zer Inc. 4,857,676 1.33
Wells Fargo & Co. 4,626,550 1.27
Nissan Motor Co. Ltd. 4,487,975 1.23
AstraZeneca PLC 4,229,568 1.16
Anheuser-Busch InBev NV 4,027,843 1.11
Danaher Corporation 3,838,174 1.05
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2011^ US$ Assets
AllianceBernstein Global Equity Blend Portfolio
Apple Inc. 13,775,967 1.62
British American Tobacco PLC 10,501,648 1.23
Oracle Corporation 7,688,265 0.90
IBM Corporation 7,458,406 0.88
QUALCOMM Inc. 7,146,885 0.84
Pfi zer Inc. 6,345,859 1.27
ING Groep NV 6,236,316 1.21
Rio Tinto 6,084,873 0.99
AstraZeneca PLC 5,951,657 0.98
Johnson & Johnson 5,897,691 0.87
Funds Information
Allocation By Country Market Value % of Net
S$ Assets
Australia 522,576 1.40
Belgium 392,823 1.05
Canada 3,781,114 10.15
France 1,340,592 3.60
Germany 1,428,568 3.83
Italy 1,264,904 3.39
Japan 4,777,966 12.82
Luxembourg 14,085,577 37.80
Mexico 713,671 1.92
Norway 535,190 1.44
Singapore 395,920 1.06
United Kingdom 1,671,385 4.49
United States Of America 3,944,164 10.59
Accrued interest receivable on fi xed income 145,853 0.39
securities
Others** 2,260,591 6.07
Total 37,260,894 100.00
** Includes any other countries and net current assets.
Allocation By Industry Market Value % of Net
S$ Assets
Business Equipment & Services 13,983,486 37.53
CMBS Diversifi ed 442,598 1.19
Financial Intermediaries 2,739,558 7.35
Government Agency 2,916,293 7.83
Oil & Gas 407,735 1.09
Sovereign 12,256,377 32.89
State And Municipality 1,531,448 4.11
Telecommunications 438,671 1.18
Utilities 460,722 1.24
Accrued interest receivable on fi xed income 145,853 0.39
securities
Others** 1,938,154 5.20
Total 37,260,895 100.00
** Includes any other industries and net current assets
68

Funds Information
GREATLINK GLOBAL OPTIMUM FUND report as at 30 June 2012
Allocation By Asset Class Market Value % of Net
S$ Assets
Equities 13,983,486 37.53
Fixed income securities (including accrued 22,837,241 61.29
interest on fi xed income securities)
Derivatives (2,190) (0.01)
Cash and cash equivalents 837,953 2.25
Other net liabilities (395,595) (1.06)
Total 37,260,895 100.00
Credit Rating of Debt Securities Market Value % of Net
(by S&P or equivalent) S$ Assets
AAA 5,946,950 15.96
AA 9,016,617 24.20
A 3,935,384 10.56
BBB 3,792,437 10.18
Accrued interest receivable on fi xed income 145,853 0.39
securities
22,837,241 61.29
69

GREATLINK GLOBAL OPTIMUM FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Global Optimum Fund * 1.40% 1.40% 49.99% 42.99%
Underlying Fund ratio # ^ 0.78% 0.75% 31.67% 35.84%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
* The expense and turnover ratios of the underlying fund - AllianceBernstein Global Equity Blend Portfolio, which accounts for 40% of investments in GreatLink Global Optimum
Fund have been included to compute the fi nal ratio.
#
The expense and turnover ratios of the underlying fund are computed for period from 1 September 2011 to 29 February 2012. The ratios for period 1 January 2012 to 30 June
2012 are not available. The expense and turnover ratios of the underlying fund are based on unaudited accounts.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Foreign Exchange Contracts (2,190) (0.01)
ii) Net loss on derivative realised (852)
iii) Net gain on outstanding derivatives 14,099
Investments in Collective Investment Schemes
Market Value
% of Net
S$ Assets
Alliance Bernstein Global Equity Blend Portfolio 13,983,486 37.53
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 120,946
Redemptions 1,074,713
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
Funds Information
^ Source: AllianceBerstein (Singapore) Ltd
70

Funds Information
GREATLINK GLOBAL TECHNOLOGY FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
Apple Computer Inc. 8,062,458 16.95
Oracle Corporation 2,304,504 4.85
Qualcomm Inc. 1,877,440 3.95
Samsung Electronics Co. Ltd 1,657,782 3.49
Equinix Inc. 1,577,619 3.32
Ebay Inc. 1,377,288 2.90
Amazon.Com Inc. 1,332,105 2.80
Alliance Data Systems Corporation 1,293,066 2.72
Visa Inc. 1,261,059 2.65
Accenture PLC 1,205,239 2.53
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
Apple Computer Inc. 3,291,601 6.98
Oracle Corporation 3,163,788 6.71
Qualcomm Inc. 1,655,531 3.51
Automatic Data Processing Inc. 1,627,160 3.45
Western Union Co. 1,438,446 3.05
IBM 1,374,762 2.91
Alliance Data Systems Corporation 1,333,335 2.83
Teradata Corporation 1,273,470 2.70
Sapient Corporation 1,235,006 2.62
EMC Corporation / Massachusetts 1,193,182 2.53
Allocation By Country Market Value % of Net
S$ Assets
Hong Kong 702,086 1.48
Japan 1,980,700 4.16
South Korea 1,657,782 3.49
Taiwan 2,679,448 5.63
United States Of America 40,259,995 84.64
Others** 283,866 0.60
Total 47,563,877 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Equities 47,280,011 99.40
Cash and cash equivalents 414,220 0.87
Other net liabilities (130,354) (0.27)
Total 47,563,877 100.00
Allocation By Industry Market Value % of Net
S$ Assets
Business Equipment & Services 21,844,179 45.93
Electronics / Electrical 18,479,594 38.85
Financial Intermediaries 1,446,869 3.04
Radio & Television 516,094 1.09
Retailers 1,801,921 3.79
Telecommunications 2,944,987 6.19
Others** 530,233 1.11
Total 47,563,877 100.00
** Includes any other industries and net current assets
Credit Rating of Debt Securities Market Value % of Net
S$ Assets
Not applicable.
71

Funds Information
GREATLINK GLOBAL TECHNOLOGY FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Global Technology Fund 1.65% 1.67% 102.09% 132.03%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Forward Foreign Exchange Contracts - 0.00
ii) Net gain on derivative realised 3,459
iii) Net loss on outstanding derivatives (478)
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 989,898
Redemptions 1,636,034
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
72

GREATLINK GLOBAL BOND FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
Government National Mortgage A 3.000 9,215,371 3.73
9/15/2041
TSY Infl IX N/B 0.125 15/1/2022 8,998,974 3.64
Fannie Mae 3.000 25/4/2042 7,796,754 3.16
United States Of America 4.500
6,704,435 2.72
15/08/2039
US Treasury N/B 2.000 15/11/2021 5,779,890 2.34
FMS Wertmanagement 2.250 14/07/2014 4,993,867 2.02
United States Of America 1.125
4,757,515 1.93
15/01/2021
Bear Stearns Cos LLC 6.400 02/10/2017 4,680,007 1.90
Federal Republic Of Germany 5.625
4,322,614 1.75
04/01/2028
Commonwealth Of Australia 4.750
15/06/2016
4,228,806 1.71
Allocation By Country Market Value % of Net
S$ Assets
Australia 16,054,696 6.50
Canada 4,974,397 2.01
Germany 8,969,476 3.63
Italy 4,114,177 1.67
Netherlands 8,159,820 3.32
United Kingdom 30,618,818 12.40
United States Of America 135,346,631 54.82
Accrued interest receivable on fi xed income 1,932,661 0.78
securities
Others** 36,723,711 14.87
Total 246,894,387 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Fixed income securities (including accrued 222,775,284 90.23
interest on fi xed income securities)
Derivatives (2,414,337) (0.98)
Cash and cash equivalents 75,290,792 30.50
Other net liabilities (48,757,352) (19.75)
Total 246,894,387 100.00
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
Fosse Master Issuer PLC Floating
6,347,692 2.94
18/10/2054
Government Of Canada 1.500 01/03/2012 5,354,497 2.48
Fannie Mae 4.5000 01/05/2023 5,210,943 2.42
Bear Stearns Cos LLC 6.400 02/10/2017 4,487,805 2.08
Gracechurch Card PLC 1.851 15/01/2016 4,274,272 1.98
Fannie Mae 4.000 01/07/2025 4,158,183 1.93
United Kingdom 3.75 07/09/2019 4,119,260 1.91
Federal Republic Of Germany 5.625
4,099,746 1.90
04/01/2028
Government Of Canada 2.000 01/08/2013 3,975,827 1.84
Holmes Master Issuer PLC 2.339
15/10/2054
3,931,228 1.82
Allocation By Industry Market Value % of Net
S$ Assets
ABS Consumer 9,517,940 3.86
Automotive 6,598,942 2.67
Brokers, Dealers & Investment Houses 12,311,102 4.99
Financial Intermediaries 31,910,080 12.92
Government Agency 39,457,410 15.98
Rmbs A 17,500,863 7.09
Sovereign 66,734,079 27.03
State And Municipality 23,940,509 9.70
Accrued interest receivable on fi xed income 1,932,661 0.78
securities
Others** 36,990,801 14.98
Total 246,894,387 100.00
** Includes any other industries and net current assets
Credit Rating of Debt Securities Market Value % of Net
(by S&P or equivalent) S$ Assets
AAA 61,027,612 24.72
AA 75,872,170 30.73
A 47,282,590 19.15
BBB 13,892,636 5.63
BB 218,401 0.09
B 245,301 0.10
CCC 605,161 0.25
Not Rated 21,698,752 8.78
Accrued interest receivable on fi xed income 1,932,661 0.78
securities
222,775,284 90.23
Funds Information
73

Funds Information
GREATLINK GLOBAL BOND FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Global Bond Fund 0.89% 0.89% 51.20% 94.01%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Foreign Exchange Contracts (1,990,932) (0.81)
Futures (423,405) (0.17)
ii) Net gain on derivative realised 4,709,451
iii) Net loss on outstanding derivatives (2,731,724)
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 6,815,875
Redemptions 6,867,215
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
74

Funds Information
GREATLINK FAR EAST EX JAPAN EQUITIES FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
Samsung Electronics Co. Ltd 3,528,100 6.52
China Construction Bank 2,290,822 4.24
Taiwan Semiconductor Manufacturing 2,205,593 4.08
Co. Ltd
China Mobile Hong Kong Ltd 1,910,036 3.53
CNOOC Ltd 1,901,364 3.52
Hyundai Motor Co. 1,516,950 2.80
Li & Fung Ltd 1,452,186 2.68
Keppel Corporation Ltd 1,425,836 2.64
BOC Hong Kong Holdings Ltd 1,397,149 2.58
AIA Group Ltd 1,352,009 2.50
Allocation By Country Market Value % of Net
S$ Assets
Hong Kong 19,385,922 35.84
Indonesia 2,261,381 4.18
Malaysia 2,558,286 4.73
Singapore 3,994,546 7.39
South Korea 13,492,985 24.95
Taiwan 7,153,703 13.23
Thailand 1,828,163 3.38
United States Of America 1,096,194 2.03
Others** 2,315,650 4.27
Total 54,086,830 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Equities 52,249,217 96.60
Cash and cash equivalents 1,800,795 3.33
Other net assets 36,818 0.07
Total 54,086,830 100.00
Credit Rating of Debt Securities Market Value % of Net
S$ Assets
Not applicable.
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
China Construction Bank 2,390,929 3.78
ICBC 2,306,934 3.65
Zijin Mining Group Co. Ltd 2,279,609 3.60
Samsung Electronics Co. Ltd 2,195,816 3.47
Korea Electric Power Corporation 1,688,864 2.67
Cheung Kong Holdings Ltd 1,615,818 2.55
Sun Hung Kai Properties Ltd 1,572,969 2.49
Keppel Corporation Ltd 1,536,796 2.43
Samsung Engineering Co. Ltd 1,532,864 2.42
KB Financial Group Inc. 1,442,409 2.28
Allocation By Industry Market Value % of Net
S$ Assets
Aerospace & Defense 1,149,169 2.12
Automotive 2,194,503 4.06
Building & Development 4,408,945 8.15
Business Equipment & Services 3,642,463 6.73
Chemicals & Plastics 810,924 1.50
Conglomerates 2,231,920 4.13
Cosmetics / Toiletries 1,236,554 2.29
Electronics / Electrical 9,083,167 16.79
Farming / Agriculture 1,444,338 2.67
Financial Intermediaries 8,610,829 15.92
Industrial Equipment 955,613 1.77
Insurance 2,524,249 4.67
Lodging & Casinos 984,686 1.82
Nonferrous Metals / Minerals 1,111,799 2.06
Oil & Gas 2,944,456 5.44
Reits And Reocs 624,000 1.15
Retailers 1,121,481 2.07
Surface Transport 1,819,999 3.36
Telecommunications 4,019,801 7.43
Utilities 794,072 1.47
Others** 2,373,862 4.40
Total 54,086,830 100.00
** Includes any other industries and net current assets
75

Funds Information
GREATLINK FAR EAST EX JAPAN EQUITIES FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Far East Ex Japan Equities Fund 1.53% 1.55% 116.43% 105.73%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Foreign Exchange Contracts - 0.00
ii) Net gain on derivative realised 1,624
iii) Net gain on outstanding derivatives -
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 1,944,190
Redemptions 2,359,701
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
76

Funds Information
GREATLINK SINGAPORE EQUITIES FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
United Overseas Bank Ltd 14,296,975 12.58
DBS Group Holdings Ltd 13,779,581 12.12
Singtel 13,407,273 11.80
Keppel Corporation Ltd 9,386,668 8.26
CapitaLand Ltd 5,857,151 5.15
Genting International PLC 5,408,760 4.76
Hutchison Port Holdings Trust 4,311,856 3.79
Golden Agri-Resources Ltd 3,618,000 3.18
Singapore Exchange 3,609,320 3.18
Wilmar International Ltd 3,303,150 2.91
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
United Overseas Bank Ltd 16,219,921 12.18
DBS Group Holdings Ltd 15,899,356 11.94
Keppel Corporation Ltd 11,590,788 8.71
Singtel 10,623,320 7.98
Noble Group Ltd 6,070,285 4.56
Sembcorp Marine Ltd 5,898,900 4.43
Wilmar International Ltd 5,571,760 4.19
Genting International PLC 5,510,150 4.14
CapitaLand Ltd 4,956,647 3.72
Cosco Corp Singapore Ltd 4,229,550 3.18
Allocation By Country Market Value % of Net
S$ Assets
Singapore 106,261,139 93.49
United States Of America 4,311,855 3.79
Others** 3,093,229 2.72
Total 113,666,223 100.00
** Includes any other countries and net current assets
Allocation By Asset Class Market Value % of Net
S$ Assets
Equities 110,572,994 97.28
Embedded Derivatives 878 0.00
Cash and cash equivalents 4,453,016 3.92
Other net liabilities (1,360,665) (1.20)
Total 113,666,223 100.00
Credit Rating of Debt Securities Market Value % of Net
S$ Assets
Not applicable.
Allocation By Industry Market Value % of Net
S$ Assets
Air Transport 2,675,460 2.35
Building & Development 11,746,681 10.33
Business Equipment & Services 3,859,890 3.40
Conglomerates 10,002,553 8.80
Farming / Agriculture 6,921,150 6.09
Financial Intermediaries 35,997,732 31.67
Health Care 2,523,820 2.22
Lodging & Casinos 5,922,360 5.21
Publishing 2,382,900 2.10
Reits And Reocs 5,346,730 4.70
Surface Transport 9,064,915 7.98
Telecommunications 13,407,273 11.80
Others** 3,814,759 3.35
Total 113,666,223 100.00
** Includes any other industries and net current assets
77

Funds Information
GREATLINK SINGAPORE EQUITIES FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Singapore Equities Fund 1.52% 1.55% 38.59% 74.46%
Note: The The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains
or losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Foreign Exchange Contracts - 0.00
ii) Net gain on derivative realised -
iii) Net loss on outstanding derivatives (878)
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 4,790,382
Redemptions 5,034,116
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
78

Funds Information
GREATLINK GLOBAL REAL ESTATE SECURITIES FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
Simon Property Group Inc. 5,605,520 5.57
Ventas Inc. 3,059,204 3.04
Mitsubishi Estate Co. Ltd 2,859,167 2.84
Westfi eld Group 2,666,973 2.65
Mitsui Fudosan Co. Ltd 2,647,753 2.63
Public Storage Inc. 2,409,849 2.39
Prologis Inc. 2,172,561 2.16
Cheung Kong Holdings Ltd 2,116,579 2.10
Host Marriott Corporation 2,090,092 2.08
Equity Residential 1,885,120 1.87
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
Simon Property Group Inc. 4,549,475 4.71
Cheung Kong Holdings Ltd 2,675,076 2.77
Sun Hung Kai Properties Ltd 2,591,824 2.68
Mitsubishi Estate Co. Ltd 2,436,412 2.52
Public Storage Inc. 2,419,184 2.50
Westfi eld Group 2,276,312 2.36
Unibail-Rodamco SE 2,261,843 2.34
Vornado Realty Trust 1,990,804 2.06
Ventas Inc. 1,733,624 1.79
Macerich Co. 1,702,599 1.76
Allocation By Country Market Value % of Net
S$ Assets
Australia 9,147,745 9.09
Canada 1,580,197 1.57
France 2,984,428 2.97
Hong Kong 9,472,287 9.41
Japan 12,946,091 12.86
Netherlands 1,644,210 1.63
Singapore 5,668,615 5.63
United Kingdom 4,444,384 4.42
United States Of America 48,960,163 48.66
Others** 3,788,767 3.76
Total 100,636,887 100.00
Allocation By Industry Market Value % of Net
S$ Assets
Building & Development 28,459,077 28.28
Reits And Reocs 67,235,220 66.81
Utilities 1,766,767 1.76
Others** 3,175,823 3.15
Total 100,636,887 100.00
** Includes any other industries and net current assets
** Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Equities 99,382,336 98.75
Derivatives 18 0.00
Cash and cash equivalents 1,618,599 1.61
Other net liabilities (364,066) (0.36)
Total 100,636,887 100.00
Credit Rating of Debt Securities Market Value % of Net
S$ Assets
Not applicable.
79

Funds Information
GREATLINK GLOBAL REAL ESTATE SECURITIES FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Global Real Estate Securities Fund 1.63% 1.67% 51.15% 41.67%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Foreign Exchange Contracts 18 0.00
ii) Net gain on derivative realised 411
iii) Net gain on outstanding derivatives 6,160
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 3,004,855
Redemptions 2,501,375
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
80

Funds Information
GREATLINK CHINA GROWTH FUND report as at 30 June 2012
Top Ten Holdings as at 30 June 2012 Market Value
S$
% of Net
Assets
Taiwan Semiconductor Manufacturing 8,816,012 6.02
Co. Ltd
China Mobile Hong Kong Ltd 8,193,776 5.60
CNOOC Ltd 7,851,928 5.36
AIA Group Ltd 7,046,546 4.81
Hon Hai Precision Industry 6,188,599 4.23
BOC Hong Kong Holdings Ltd 5,424,792 3.70
Tencent Holdings Ltd 5,344,409 3.65
Ping An 4,564,635 3.12
China Overseas Land & Investment 4,558,438 3.11
ICBC 4,483,574 3.06
Allocation By Country Market Value % of Net
S$ Assets
Hong Kong 91,375,779 62.40
Taiwan 40,266,275 27.50
United States Of America 7,792,482 5.32
Others** 7,003,295 4.78
Total 146,437,831 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Equities 140,623,917 96.03
Derivatives 13,565 0.01
Cash and cash equivalents 4,783,776 3.27
Other net assets 1,016,573 0.69
Total 146,437,831 100.00
Credit Rating of Debt Securities Market Value % of Net
S$ Assets
Not applicable.
Top Ten Holdings as at 30 June 2011 Market Value
S$
% of Net
Assets
Taiwan Semiconductor Manufacturing 9,211,357 5.09
Co. Ltd
China Construction Bank 8,280,380 4.58
ICBC 8,238,060 4.56
Jardine Matheson Holdings Ltd 6,898,274 3.81
CNOOC Ltd 6,635,321 3.67
Taiwan Mobile Co. Ltd 6,350,859 3.51
President Chain Store Corporation 6,158,960 3.41
Jiangxi Copper Co. Ltd 4,930,539 2.73
Ishares Asia Trust - Ishares F Unit Trust 4,883,183 2.70
Petrochina Co. Ltd 4,858,225 2.69
Allocation By Industry Market Value % of Net
S$ Assets
Brokers, Dealers & Investment Houses 2,573,883 1.76
Building & Development 8,063,473 5.51
Business Equipment & Services 17,251,097 11.78
Chemicals & Plastics 1,619,524 1.11
Clothing / Textiles 2,197,070 1.50
Conglomerates 4,141,604 2.83
Electronics / Electrical 21,583,502 14.74
Financial Intermediaries 20,997,964 14.34
Health Care 3,714,661 2.54
Insurance 12,800,563 8.74
Nonferrous Metals / Minerals 4,672,259 3.19
Oil & Gas 13,253,552 9.05
Reits And Reocs 2,925,586 2.00
Retailers 1,867,793 1.28
Surface Transport 4,220,588 2.88
Telecommunications 10,840,937 7.40
Utilities 4,894,601 3.33
Others** 8,819,174 6.02
Total 146,437,831 100.00
** Includes any other industries and net current assets
81

Funds Information
GREATLINK CHINA GROWTH FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink China Growth Fund 1.53% 1.55% 133.63% 42.42%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives Market Value % of Net
S$ Assets
i) Market value of derivatives
Foreign Exchange Contracts 13,565 0.00
ii) Net gain on derivative realised 6,092
iii) Net gain on outstanding derivatives 13,565
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 4,511,363
Redemptions 7,288,665
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
82

GREATLINK EUROPEAN EQUITY FUND report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Unit Trust
CIF European Equity Fund Class B EUR - 13,471,855 99.93
Singapore
Other net assets 9,331 0.07
13,481,186 100.00
Top 10 Holdings of Underlying Fund
as at 30 June 2012 ^
Market Value
Eur €
% of Net
Assets
Pernod Ricard SA 1,933,851 3.12
Sampo OYJ 1,772,374 2.86
Prudential Plc 1,736,662 2.80
Imperial Tobacco Group PLC 1,506,113 2.43
Bayer AG 1,422,680 2.30
Roche Holding AG 1,381,907 2.23
SES 1,357,439 2.19
BG Group PLC 1,349,629 2.18
Fugro NV 1,296,776 2.09
Danone SA 1,179,497 1.90
Allocation By Country ^ Market Value % of Net
(Underlying Fund) Eur € Assets
Denmark 1,132,193 1.83
Finland 1,772,374 2.86
France 11,626,300 18.77
Germany 7,062,089 11.40
Italy 982,878 1.59
Netherlands 3,339,985 5.39
Norway 925,797 1.49
Spain 863,810 1.39
Sweden 4,225,736 6.82
Switzerland 9,472,327 15.29
United Kingdom 16,108,835 26.00
Others** 4,435,500 7.17
Total 61,947,824 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2011 ^ Eur € Assets
Sampo OYJ 1,932,947 2.76
UBS AG 1,853,277 2.65
Novartis AG 1,803,256 2.58
Koninklijke KPN NV 1,741,048 2.49
Bayer AG 1,679,666 2.40
SES 1,613,123 2.30
BNP Paribas 1,606,268 2.29
Xstrata PLC 1,573,334 2.25
Pernod Ricard 1,559,979 2.23
Lloyds Banking Group PLC 1,531,866 2.19
Allocation By Industry ^ Market Value % of Net
(Underlying Fund) Eur € Assets
Consumer Discretionary 9,827,506 15.86
Consumer Staples 5,784,095 9.34
Energy 7,494,275 12.10
Financials 12,245,873 19.77
Health Care 6,703,290 10.82
Industrials 6,383,569 10.30
Information Technology 2,710,811 4.38
Materials 5,192,629 8.38
Telecommunication Services 1,659,398 2.68
Others** 3,946,378 6.37
Total 61,947,824 100.00
** Includes any other industries and net current assets.
** Includes any other countries and net current assets.
Allocation By Asset Class ^ Market Value % of Net
(Underlying Fund) Eur € Assets
Equity 58,552,396 94.52
Cash and cash equivalents 3,395,428 5.48
Total 61,947,824 100.00
Credit Rating of Debt Securities ^ Market Value % of Net
(Underlying Fund) Eur € Assets
Not applicable.
Funds Information
83

Funds Information
GREATLINK EUROPEAN EQUITY FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink European Equity Fund * 1.59% 1.61% 30.20% 31.00%
Underlying Fund # ^ 1.74% 1.76% 30.20% 31.00%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
* The expense ratio of the underlying fund is included to compute the fi nal ratio.
#
The expense and turnover ratios of the underlying fund are based on unaudited accounts.
Exposure to Derivatives ^
(Underlying Fund)
Nil
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 298,283
Redemptions 586,023
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
^ Source: Capital International, Inc.
84

GREATLINK GLOBAL GROWTH TRENDS PORTFOLIO report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Unit Trust
AllianceBernstein-Global Growth Trends 13,557,998 100.27
Portfolio - Singapore
Other net liabilities (36,803) (0.27)
13,521,195 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2012 ^ US$ Assets
Apple Inc. 29,711,340 3.80
British American Tobacco PLC 23,306,737 2.98
Anheuser-Busch InBev NV 17,380,223 2.22
Danaher Corporation 16,561,800 2.12
Nestle SA 15,990,829 2.05
Walt Disney Co. (The) 14,625,378 1.87
Visa Inc. 14,327,556 1.83
QUALCOMM Inc. 13,379,371 1.71
Google Inc. 13,310,489 1.70
Oracle Corporation 13,253,274 1.69
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2011 ^ US$ Assets
Apple Inc. 31,121,091 3.17
British American Tobacco PLC 23,724,124 2.42
Oracle Corporation 17,368,450 1.77
IBM Corporation 16,849,179 1.72
QUALCOMM Inc. 16,145,428 1.65
Standard Chartered PLC 14,335,840 1.46
United Technologies Corporation 14,088,373 1.44
Google Inc. 13,746,250 1.40
AIA Group Ltd 13,445,304 1.37
Cie Financiere Richemont SA 13,323,390 1.36
Allocation By Country ^ Market Value % of Net
(Underlying Fund) US$ Assets
Belgium 20,224,670 2.59
Canada 17,671,250 2.26
France 38,462,711 4.92
Germany 10,892,524 1.39
Hong Kong 21,420,812 2.74
Japan 40,426,124 5.17
South Korea 13,468,997 1.72
Switzerland 43,798,730 5.60
United Kingdom 101,425,211 12.97
United States 419,556,926 53.66
Others** 54,581,399 6.98
Total 781,929,354 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class ^ Market Value % of Net
(Underlying Fund) US$ Assets
Equities 777,926,902 99.49
Other net assets 4,002,452 0.51
Total 781,929,354 100.00
Credit Rating of Debt Securities ^ Market Value % of Net
(Underlying Fund) US$ Assets
Not applicable.
Allocation By Industry ^ Market Value % of Net
(Underlying Fund) US$ Assets
Automobiles & Components 12,755,084 1.63
Banks 33,089,305 4.23
Capital Goods 76,136,450 9.74
Consumer Durables & Apparel 28,221,007 3.61
Consumer Services 19,312,470 2.47
Diversifi ed Financials 47,302,842 6.05
Energy 76,511,266 9.78
Food & Staples Retailing 38,418,760 4.91
Food, Beverage & Tobacco 45,238,815 5.79
Health Care Equipment & Services 30,933,070 3.96
Insurance 17,583,417 2.25
Materials 44,562,694 5.70
Media 20,092,089 2.57
Pharmaceutical, Biotechnology & Life 39,002,131 4.99
Sciences
Retailing 50,683,727 6.48
Semiconductors & Semiconductor
37,525,165 4.80
Equipment
Software & Services 85,180,857 10.89
Technology Hardware & Equipment 59,250,751 7.58
Transportation 8,659,689 1.11
Others** 11,469,765 1.46
Total 781,929,354 100.00
** Includes any other industries and net current assets.
Funds Information
85

Funds Information
GREATLINK GLOBAL GROWTH TRENDS PORTFOLIO report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Global Growth Trends Portfolio * 1.68% 1.66% 31.93% 37.53%
Underlying Fund # ^ 0.78% 0.75% 31.93% 37.53%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
* The expense ratio of the underlying fund is included to compute the fi nal ratio.
#
The expense and turnover ratios of the underlying fund are computed for period from 1 September 2011 to 29 February 2012. The ratios for period 1 January 2012 to 30
June 2012 are not available. The expense and turnover ratios of the underlying fund are based on unaudited accounts.
Exposure to Derivatives ^
(Underlying Fund)
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 560,251
Redemptions 484,928
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
^ Source: AllianceBerstein (Singapore) Ltd
86

GREATLINK GLOBAL OPPORTUNITIES FUND report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Unit Trust
Aberdeen Global Opportunities Fund - 83,973,320 100.01
Singapore
Other net liabilities (10,656) (0.01)
83,962,664 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2012 ^ US$ Assets
Vodafone 146,286,597 4.13
Roche Holdings 140,808,744 3.98
Taiwan Semiconductor Manufacturing 134,955,388 3.81
Co. Ltd
Johnson & Johnson 127,034,243 3.59
British American Tobacco 123,193,570 3.48
Philip Morris International Inc. 120,935,894 3.42
Standard Chartered PLC 109,637,824 3.10
Royal Dutch Shell PLC 104,819,670 2.96
Novartis 103,207,362 2.92
Tenaris ADR 100,058,185 2.83
Allocation By Country ^ Market Value % of Net
(Underlying Fund) US$ Assets
Australia 73,527,980 2.08
Brazil 204,105,469 5.77
Canada 128,992,632 3.64
China 101,688,500 2.87
France 46,944,311 1.33
Hong Kong 76,828,463 2.17
Italy 182,384,639 5.15
Japan 215,828,975 6.10
Mexico 81,665,537 2.31
South Korea 81,863,815 2.31
Sweden 151,316,862 4.27
Switzerland 427,841,270 12.09
Taiwan 134,955,388 3.81
United Kingdom 620,988,546 17.54
United States 855,126,582 24.15
Others** 156,170,956 4.41
Total 3,540,229,925 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2011 ^ US$ Assets
Roche Holdings 117,488,536 3.90
Philip Morris International 115,362,058 3.83
Vodafone 114,608,451 3.80
QBE Insurance 107,136,418 3.55
Zurich Financial Services 99,407,960 3.30
Taiwan Semiconductor Manufacturing 98,755,506 3.27
Co. Ltd
British American Tobacco 95,910,586 3.18
Novartis 93,626,265 3.10
Banco Bradesco (Pref) ADR 92,325,876 3.06
Canon 90,560,701 3.00
Allocation By Industry ^ Market Value % of Net
(Underlying Fund) US$ Assets
Consumer Staples 670,384,485 18.94
Energy 540,857,711 15.28
Financials 678,394,071 19.16
Health Care 423,170,978 11.95
Industrials 265,243,580 7.49
Information Technology 396,374,628 11.20
Materials 103,877,751 2.93
Telecommunication Services 237,066,532 6.70
Utilities 70,199,973 1.98
Others** 154,660,216 4.37
Total 3,540,229,925 100.00
** Includes any other industries and net current assets.
** Includes any other countries and net current assets.
Allocation By Asset Class ^ Market Value % of Net
(Underlying Fund) US$ Assets
Equities 3,419,023,680 96.58
Cash and cash equivalents 121,206,245 3.42
Total 3,540,229,925 100.00
Credit Rating of Debt Securities ^ Market Value % of Net
(Underlying Fund) US$ Assets
Not applicable.
Funds Information
87

Funds Information
GREATLINK GLOBAL OPPORTUNITIES FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Global Opportunities Fund * 1.83% 1.82% 4.76% 11.40%
Underlying Fund # ^ 1.73% 1.73% 4.76% 2.28%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
* The expense ratio of the underlying fund is included to compute the fi nal ratio.
#
The expense and turnover ratios of the underlying fund are computed for period from 1 October 2011 to 31 March 2012. The ratios for period 1 January 2012 to 30 June
2012 are not available. The expense and turnover ratios of the underlying fund are based on unaudited accounts.
Exposure to Derivatives ^
(Underlying Fund)
Nil.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 212,382
Redemptions 583,614
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
^ Source: Aberdeen Asset Management Asia Ltd
88

GREATLINK GLOBAL EQUITY ALPHA FUND report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Unit Trust
Schroders ISF Global Equity Alpha Fund - 72,897,344 100.19
Singapore
Other net liabilities (141,658) (0.19)
72,755,686 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2012 ^ US$ Assets
Apple Inc. 25,377,549 3.46
Pfi zer Inc. 19,289,871 2.63
Google Inc. 18,996,489 2.59
Kraft Foods Inc. 18,263,034 2.49
Roche Holding AG 17,749,615 2.42
Nestle 16,209,359 2.21
GlaxoSmithKline 15,769,286 2.15
Dollar General Corporation 15,329,213 2.09
Nippon Telegraph & Telephone Corporation 14,815,794 2.02
Home Depot Inc./The 14,742,449 2.01
Allocation By Country ^ Market Value % of Net
(Underlying Fund) US$ Assets
Australia 17,602,924 2.40
Belgium 14,449,067 1.97
Canada 21,710,273 2.96
China 20,463,399 2.79
Germany 21,050,163 2.87
Hong Kong 32,638,755 4.45
India 9,681,608 1.32
Israel 10,928,482 1.49
Japan 61,390,197 8.37
Netherlands 8,141,352 1.11
South Korea 9,388,226 1.28
Switzerland 44,814,110 6.11
United Kingdom 86,767,746 11.83
United States 338,122,830 46.10
Others** 36,306,031 4.95
Total 733,455,163 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2011 ^ US$ Assets
GlaxoSmithKline 15,460,840 2.40
Apple Inc. 15,009,899 2.33
JP Morgan Chase & Co. 14,430,118 2.24
Novartis 14,172,437 2.2
Baker Hughes Inc. 13,657,076 2.12
Visa Inc. 13,399,395 2.08
Google Inc. 13,270,555 2.06
Seven & I Holdings Co. Ltd 13,077,294 2.03
Fanuc Corporation 12,819,613 1.99
Cognizant Technology Solutions Corporation 12,626,353 1.96
Allocation By Industry ^ Market Value % of Net
(Underlying Fund) US$ Assets
Consumer Discretionary 103,637,215 14.13
Consumer Staples 74,812,427 10.20
Energy 63,370,526 8.64
Financials 116,325,989 15.86
Health Care 77,746,247 10.60
Industrials 66,597,729 9.08
Information Technology 98,062,955 13.37
Materials 48,774,768 6.65
Telecommunication services 36,012,649 4.91
Utilities 25,010,820 3.41
Others** 23,103,838 3.15
Total 733,455,163 100.00
** Includes any other industries and net current assets.
** Includes any other countries and net current assets.
Allocation By Asset Class ^ Market Value % of Net
(Underlying Fund) US$ Assets
Equities 710,351,326 96.85
Derivatives 220,036 0.03
Cash and cash equivalents 22,883,801 3.12
Total 733,455,163 100.00
Credit Rating of Debt Securities ^ Market Value % of Net
(Underlying Fund) US$ Assets
Not applicable.
Funds Information
89

Funds Information
GREATLINK GLOBAL EQUITY ALPHA FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Global Equity Alpha Fund * 1.90% 1.83% 83.21% 83.40%
Underlying Fund # ^ 1.30% 1.30% 83.21% 108.60%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
* The expense ratio of the underlying fund is included to compute the fi nal ratio.
#
The expense and turnover ratios of the underlying fund are based on unaudited draft accounts.
Exposure to Derivatives ^ Market Value % of Net
(Underlying Fund) S$ Assets
i) Market value of derivative contracts
Foreign exchange contracts 0 0.00
ii) Net loss on derivative realised (13,250)
iii) Net gain on outstanding derivatives -
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 124,881
Redemptions 772,628
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
^ Source: Schroders Investment Management Ltd
90

GREATLINK STABLE BOND FUND report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Unit Trust
Deutsche Lion Bond Fund Class A - 60,330,753 99.76
Singapore
Other net assets 146,367 0.24
60,477,120 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2012 ^ S$ Assets
Singapore Press Holdings Ltd MTN 2.81% 11,400,466 3.84
02/03/2015
Hang Seng Bank Ltd FRN 05/07/2017 10,150,697 3.42
HSBC Singapore Series MTN 1.6%
8,802,988 2.96
07/10/2013
Danga Capital Berhad 2.615% 11/08/2015 8,128,922 2.74
Lloyds TSB Bank Plc Series EMTN 3.5% 7,581,558 2.55
17/09/2014
Winmall Ltd 4.69% 27/04/2014 7,888,215 2.65
CMT MTN Pte Ltd MTN 2.85% 01/09/2014 7,121,832 2.40
Standard Chartered Bank EMTN 2.22% 7,100,004 2.39
05/07/2013
United Overseas Land Ltd MTN 2.5% 7,096,038 2.39
01/07/2014
Overseas Union Enterprise Ltd MTN 3.95%
29/09/2015
7,085,062 2.38
Allocation By Country ^ Market Value % of Net
(Underlying Fund) S$ Assets
Australia 13,347,012 4.49
Cayman Islands 7,369,023 2.48
China 9,011,203 3.03
Germany 2,014,247 0.68
Great Britain 24,315,981 8.18
Hong Kong 18,953,685 6.38
Malaysia 12,858,798 4.33
New Zealand 10,392,357 3.50
Singapore 119,849,645 40.34
South Korea 39,286,359 13.22
United States of America 28,746,906 9.68
Others** 10,973,944 3.69
Total 297,119,160 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class ^ Market Value % of Net
(Underlying Fund) S$ Assets
Bonds 287,777,672 96.86
Other net assets 9,341,488 3.14
Total 297,119,160 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2011 ^ S$ Assets
Hang Seng Bank Ltd FRN 05/07/2017 9,794,049 3.73
United Overseas Bank Ltd 4.95%
9,254,768 3.53
30/09/2016
Winmall Ltd 4.69% 27/04/2014 7,921,620 3.02
United Overseas Land Ltd 3.34%
7,370,758 2.81
15/05/2012
Morgan Stanley EMTN 3.8% 29/01/2016 7,220,294 2.75
CMT MTN Pte Ltd MTN 2.85% 01/09/2014 7,176,270 2.73
Standard Chartered Bank EMTN 2.22% 7,159,428 2.73
05/07/2013
United Overseas Land Ltd MTN 01/07/2014 7,000,700 2.67
Asia Pac Breweries Ltd MTN 3.55%
6,314,544 2.40
01/10/2014
Singapore Press Holdings Ltd MTN 2.81%
02/03/2015
6,246,064 2.38
Allocation By Industry ^ Market Value % of Net
(Underlying Fund) S$ Assets
Banks 110,303,981 37.12
Brewery 6,250,990 2.10
City Gas 5,703,348 1.92
Diversifi ed Resources 5,313,706 1.79
Finance 58,451,875 19.67
Government 9,351,665 3.15
Hotels 7,085,062 2.38
Industrials 5,256,642 1.77
Investment 11,566,642 3.89
Miscellaneous 8,128,922 2.74
Print & Publish 11,400,466 3.84
Real Estate 29,133,934 9.81
Real Estate Investment Trust 7,150,523 2.41
Ship Building 5,292,247 1.78
Others** 16,729,157 5.63
Total 297,119,160 100.00
** Includes any other industries and net current assets.
Funds Information
91

GREATLINK STABLE BOND FUND report as at 30 June 2012
Credit Rating of Debt Securities ^ Market Value % of Net
(Underlying Fund) S$ Assets
Aaa 16,843,869 5.67
AA (by S&P) 7,888,215 2.66
Aa3 20,543,054 6.91
Aa2 19,383,078 6.52
A3 31,694,630 10.67
A2 19,217,962 6.47
A1 34,942,024 11.76
A (by S&P) 13,794,945 4.64
A- (by S&P) 4,007,485 1.35
Baa3 6,128,984 2.06
Baa2 12,629,852 4.25
Baa1 11,642,720 3.92
BBB+ (by S&P) 2,027,970 0.68
Not Rated 87,032,884 29.30
287,777,672 96.86
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Stable Bond Fund * 0.62% 0.72% 28.96% 42.12%
Underlying Fund # ^ 0.62% 0.72% 28.96% 42.12%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
* The expense ratio of the underlying fund is included to compute the fi nal ratio.
#
The expense and turnover ratios of the underlying fund are based on unaudited accounts.
Exposure to Derivatives ^ Market Value % of Net
(Underlying Fund) S$ Assets
i) Market value of derivative contracts
Foreign exchange contracts 331,851 0.11
ii) Net gain on derivative realised 1,371,535
iii) Net gain on outstanding derivatives 331,851
Borrowings
Not applicable.
Funds Information
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 6,892,062
Redemptions 8,413,494
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
^ Source: Deutsche Asset Management (Asia) Ltd
92

Funds Information
GREATLINK LION JAPAN GROWTH FUND report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Unit Trust
LionGlobal Japan Growth Fund - Singapore 4,200,086 99.94
Other net assets 2,657 0.06
4,202,743 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2012 ^ S$ Assets
Denso Corporation 1,872,708 5.17
ITOCHU Corporation 1,194,129 3.30
The Bank Of Yokohama Ltd 1,116,321 3.08
Pigeon Corporation 1,008,455 2.79
Koito Manufacturing Co. Ltd 966,651 2.67
Orix JREIT Corporation 888,114 2.45
Bridgestone Corporation 821,261 2.27
Mitsui & Co. Ltd 784,711 2.17
FANUC Corporation 781,291 2.16
Chiba Bank Ltd 772,464 2.13
Allocation By Country ^ Market Value % of Net
(Underlying Fund) S$ Assets
Japan 35,045,200 96.83
Others** 1,148,547 3.17
Total 36,193,747 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class ^ Market Value % of Net
(Underlying Fund) S$ Assets
Equities 35,045,200 96.83
Cash and cash equivalents 1,148,547 3.17
Total 36,193,747 100.00
Credit Rating of Debt Securities ^ Market Value % of Net
(Underlying Fund) S$ Assets
Not applicable.
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2011 ^ S$ Assets
ITOCHU Corporation 1,612,479 3.53
Denso Corporation 1,535,079 3.36
Orix Corporation 1,454,606 3.19
The Bank Of Yokohama Ltd 1,419,219 3.11
Hitachi Ltd 1,305,792 2.86
Mitsubishi Electric Corporation 1,297,766 2.84
FANUC Corporation 1,199,965 2.63
Murata Manufacturing Co. Ltd 1,101,861 2.41
Benesse Corporation 1,099,687 2.41
Sysmex Corporation 1,075,214 2.35
Allocation By Industry ^ Market Value % of Net
(Underlying Fund) S$ Assets
Industrial 8,126,900 22.45
Consumer, Cyclical 7,930,969 21.91
Consumer, Non-cyclical 5,270,900 14.56
Technology 4,707,023 13.01
Financial 4,681,445 12.94
Basic Materials 2,980,006 8.24
Energy 876,245 2.42
Utilities 471,712 1.30
Others** 1,148,547 3.17
Total 36,193,747 100.00
** Includes any other industries and net current assets.
93

Funds Information
GREATLINK LION JAPAN GROWTH FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Lion Japan Growth Fund * 1.82% 1.61% 23.00% 36.00%
Underlying Fund # ^ 1.91% 1.71% 23.00% 36.00%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
* The expense ratio of the underlying fund is included to compute the fi nal ratio.
#
The expense and turnover ratios of the underlying fund are based on unaudited accounts.
Exposure to Derivatives ^ Market Value % of Net
(Underlying Fund) S$ Assets
i) Market value of derivative contracts - 0.00
ii) Net gain on derivative realised 3,807
iii) Net gain on outstanding derivatives -
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 118,290
Redemptions 341,674
Related-Party Transactions
The GreatLink Lion Japan Growth Fund invests 100% of its net assets value in LionGlobal Japan Growth Fund, which is managed by Lion Global Investors
Limited, a related company of The Great Eastern Life Assurance Company Limited.
Any material information that will adversely impact the valuation of the fund
Nil.
^ Source: Lion Global Investors Ltd
94

Funds Information
GREATLINK LION INDIA FUND report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Unit Trust
LionGlobal India Fund - Singapore 88,687,045 100.04
Other net liabilities (39,722) (0.04)
88,647,323 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2012 ^ S$ Assets
HDFC Bank Ltd 14,902,195 8.01
Infosys Technology Ltd 13,234,197 7.11
Larsen & Toubro Ltd 12,835,069 6.90
ITC Ltd 12,731,022 6.84
Tata Consultancy Services Ltd 9,028,284 4.85
Coal India Ltd 9,015,070 4.84
Reliance Industries Ltd 8,906,088 4.78
Housing Development Finance Corporation 8,131,187 4.37
Ltd
ICICI Bank Ltd 7,643,416 4.11
Tata Motors Ltd 7,246,760 3.89
Allocation By Country ^ Market Value % of Net
(Underlying Fund) S$ Assets
India 181,624,191 97.58
Others** 4,504,805 2.42
Total 186,128,996 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class ^ Market Value % of Net
(Underlying Fund) S$ Assets
Equities 181,624,191 97.58
Cash and cash equivalents 4,504,805 2.42
Total 186,128,996 100.00
Credit Rating of Debt Securities ^ Market Value % of Net
(Underlying Fund) S$ Assets
Not applicable.
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2011 ^ * S$ Assets
Reliance Industries Ltd 28,463,041 10.47
Infosys Technologies Ltd 27,982,994 10.29
HDFC Ltd 23,561,938 8.67
ICICI Bank Ltd 20,735,445 7.63
Tata Consultancy Services Ltd 18,762,281 6.90
ITC Ltd 18,225,818 6.70
Housing Development Finance Corporation 17,357,080 6.39
Ltd
Larsen & Toubro Ltd 8,150,594 3.00
AXIS Bank Ltd 8,110,893 2.98
Oil & Natural Gas Corporation Ltd 7,313,780 2.69
* Comparative holdings have been revised to be consistent with Fund
Manager.
Allocation By Industry ^ Market Value % of Net
(Underlying Fund) S$ Assets
Basic Materials 25,384,488 13.64
Communications 5,501,340 2.96
Consumer, Cyclical 5,311,640 2.85
Consumer, Non-cyclical 28,542,232 15.33
Energy 13,448,701 7.23
Financial 43,837,551 23.55
Industrial 20,081,830 10.79
Technology 29,171,487 15.67
Utilities 10,344,922 5.56
Others** 4,504,805 2.42
Total 186,128,996 100.00
** Includes any other industries and net current assets.
95

Funds Information
GREATLINK LION INDIA FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Lion India Fund * 1.75% 1.68% 72.00% 53.00%
Underlying Fund # ^ 1.68% 1.61% 72.00% 53.00%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months .
* The expense ratio of the underlying fund is included to compute the fi nal ratio.
#
The expense and turnover ratios of the underlying fund are computed for period from 1 July 2011 to 30 June 2012. The ratios for period 1 January 2012 to 30 June 2012 are
not available. The expense and turnover ratios of the underlying fund are based on unaudited accounts.
Exposure to Derivatives Market Value % of Net
(Underlying Fund) S$ Assets
i) Market value of derivative contracts - 0.00
ii) Net loss on derivative realised (7,109)
iii) Net gain on outstanding derivatives -
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 3,738,989
Redemptions 3,046,495
Related-Party Transactions
The GreatLink Lion India Fund invests 100% of its net assets value in LionGlobal India Fund, which is managed By Lion Global Investors Limited, a related
company of The Great Eastern Life Assurance Company Limited.
Any material information that will adversely impact the valuation of the fund
Nil.
^ Source: Lion Global Investors Ltd
96

GREATLINK LION GLOBAL FLEXI FUND report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Unit Trust
LionGlobal Flexi Fund - Singapore 5,682,546 100.04
Other net liabilities (2,102) (0.04)
5,680,444 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2012 ^ S$ Assets
LionGlobal Asia Bond Fund 982,740 10.91
LionGlobal SGD Money Market Fund 686,336 7.62
Government Of Singapore 2.25% Due
427,252 4.74
01/06/2021
LionGlobal Emerging Markets Fund 304,533 3.38
STATS ChipPac Ltd 7.5% Due 12/08/2015 271,095 3.01
Hyundai Capital America 4% Due
263,575 2.93
08/06/2017
CFS Retail Property Trust Convertible
259,250 2.88
5.075% Due 21/08/2014
Banyan Tree Holdings Ltd 6.25% Due
254,394 2.82
27/08/2013
PCCW HKT Capital No4 Ltd 5.75% Due
253,408 2.81
17/04/2022
Pertamina 4.875% Due 03/05/2022 252,965 2.81
Allocation By Country ^ Market Value % of Net
(Underlying Fund) S$ Assets
Australia 941,906 10.46
China 592,321 6.57
Hong Kong 649,274 7.21
Indonesia 465,681 5.17
Malaysia 136,260 1.51
Philippines 85,648 0.95
Singapore 4,437,833 49.25
South Korea 18,276 0.20
Taiwan 550,884 6.11
United States of America 726,590 8.06
Accrued interest receivable on debt
48,245 0.54
securities
Others** 356,996 3.97
Total 9,009,914 100.00
** Includes any other countries and net current assets.
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2011 ^ S$ Assets
Indonesia Government 11% Series FR23 459,861 3.52
Due 15/12/2012
Keppel Corporation Ltd 377,146 2.89
LionGlobal Emerging Markets Bond 331,278 2.54
LionGlobal Asia Bond Fund 327,141 2.50
Starhub Ltd 316,920 2.43
Hutchison Port Holdings Trust 290,450 2.22
Indosat Pal 7.375% Due 29/07/2020 271,700 2.08
Huan Eng Renewable 269,483 2.06
Stats Chippac Ltd 7.5% Due 12/08/2015 264,496 2.02
CapitaLand Ltd 263,900 2.02
Allocation By Industry ^ Market Value % of Net
(Underlying Fund) S$ Assets
Basic Materials 64,465 0.715
Communications 970,703 10.774
Consumer, Cyclical 527,800 5.858
Consumer, Non-cyclical 356,906 3.961
Energy 309,050 3.430
Financial 2,086,240 23.155
Funds 2,436,625 27.044
Industrial 974,753 10.819
Sovereign 427,252 4.742
Technology 450,879 5.004
Accrued interest receivable on debt
48,245 0.535
securities
Others** 356,996 3.962
Total 9,009,914 100.00
** Includes any other industries and net current assets.
Allocation By Asset Class ^ Market Value % of Net
(Underlying Fund) S$ Assets
Equities 2,300,197 25.53
Debt Securities (including accrued interest 3,916,097 43.47
on debt securities)
Funds 2,436,624 27.04
Derivatives (64,693) (0.72)
Cash and cash equivalents 421,689 4.68
Total 9,009,914 100.00
Funds Information
97

GREATLINK LION GLOBAL FLEXI FUND report as at 30 June 2012
Credit Rating of Debt Securities ^ Market Value % of Net
(Underlying Fund) S$ Assets
B2 119,944 1.33
Ba1 407,965 4.53
Baa2 263,575 2.93
Baa3 682,783 7.58
Not Rated 2,393,585 26.56
Accrued interest receivable on debt
securities 48,245 0.54
3,916,097 43.47
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Lion Global Flexi Fund * 2.44% 1.83% 57.00% 79.00%
Underlying Fund # ^ 2.34% 1.73% 57.00% 79.00%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
* The expense ratio of the underlying fund is included to compute the fi nal ratio.
#
The expense and turnover ratios of the underlying fund are based on unaudited draft accounts.
Exposure to Derivatives^ Market Value % of Net
(Underlying Fund) S$ Assets
i) Market value of derivative contracts
Forward foreign exchange contracts (54,716) (0.60)
Spot foreign exchange contracts 45 -
Futures contracts (9,344) (0.10)
Options (678) -
ii) Net gain on derivative realised 152,154
iii) Net loss on outstanding derivatives (63,476)
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 343,436
Redemptions 481,796
Funds Information
Related-Party Transactions
The GreatLink Lion Global Flexi Fund invests 100% of its net assets value in LionGlobal Flexi Fund, which is managed by Lion Global Investors Limited, a
related company of The Great Eastern Life Assurance Company Limited.
Any material information that will adversely impact the valuation of the fund
Nil.
^ Source: Lion Global Investors Ltd
98

GREATLINK LION ASIAN BALANCED FUND report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Unit Trust
LionGlobal Asia Pacifi c Fund - Singapore 34,377,193 45.43
LionGlobal Singapore Fixed Income 41,292,555 54.57
Investment (Class A Units) - Singapore
75,669,748 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2012 ^ S$ Assets
LionGlobal Asia Pacifi c Fund
BHP Billiton Ltd 2,745,296 4.25
Australia And New Zealand Banking
2,739,005 4.24
Group Ltd
Samsung Electronics Co. Ltd 2,672,642 4.14
National Australia Bank Ltd 2,223,050 3.44
Taiwan Semiconductor Manufacturing 2,120,271 3.28
Co. Ltd
Wesfarmers Ltd 1,952,884 3.02
CNOOC Ltd 1,581,955 2.45
Telstra Corporation Ltd 1,555,775 2.41
Rio Tinto Ltd 1,420,985 2.20
Keppel Corporation Ltd 1,406,990 2.18
LionGlobal Singapore Fixed Income Investment (Class A Units)
Government of Singapore 3.25% due 24,827,930 9.64
01/09/2020
Government of Singapore 3% due
15,362,460 5.96
01/09/2024
Government of Singapore 3.5% due 01/03/2027 15,179,040 5.89
Government of Singapore 2.5% due 14,565,829 5.65
01/06/2019
Government of Singapore 3.125% due 13,184,318 5.12
01/09/2022
Government of Singapore 2.25% due
10,681,306 4.15
01/06/2021
Government of Singapore 2.875% due 4,907,299 1.90
01/09/2030
Housing & Development Board MTN 2% 4,644,190 1.80
due 03/11/2017
SP Powerassets Ltd EMTN 4.19% due 4,318,765 1.68
18/08/2015
SembCorp Financial Services MTN 5% due 3,932,712 1.53
21/04/2014
Allocation By Country ^ Market Value % of Net
(Underlying Fund) S$ Assets
LionGlobal Asia Pacifi c Fund
Australia 15,724,828 24.34
China 11,218,005 17.37
South Korea 10,953,810 16.96
Hong Kong 6,585,732 10.20
Taiwan 6,217,645 9.63
Singapore 3,530,135 5.47
India 3,145,576 4.87
Thailand 2,517,799 3.90
Indonesia 2,041,196 3.15
Malaysia 1,602,836 2.48
Others** 1,050,068 1.63
Total 64,587,630 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2011 ^ S$ Assets
LionGlobal Asia Pacifi c Fund
BHP Billiton Ltd 2,868,038 3.43
Hyundai Motor Company 2,476,263 2.96
Commonwealth Bank of Australia 2,443,804 2.92
China Construction Bank H Shares 2,432,650 2.91
Australia And New Zealand Banking
2,407,228 2.88
Group Ltd
Samsung Electronics Co. Ltd 2,370,545 2.83
China Shenhua Energy Co. Ltd 2,051,490 2.45
Rio Tinto Ltd 1,831,690 2.19
Oil Search Ltd 1,785,340 2.13
LG Chemical Ltd 1,742,142 2.08
LionGlobal Singapore Fixed Income Investment (Class A Units)
Government of Singapore 2.5% due 10,637,264 7.68
1/6/2019
Government of Singapore 3.25% due 9,117,404 6.58
1/9/2020
Government of Singapore 3.125% due 7,683,758 5.54
1/9/2022
Government of Singapore 3.5% due
7,539,265 5.44
01/03/2027
Sembcorp Financial Services MTN 5% due 4,068,600 2.94
21/04/2014
SP PowerAssets Ltd EMTN 4.19% due 2,997,120 2.16
18/08/2015
Singapore Post Ltd 3.13% due 11/04/2013 2,594,307 1.87
Singapore Press Holdings Ltd MTN 2.81% 2,579,238 1.86
due 02/03/2015
HSBC Capital Funding Var Perpetual 2,556,028 1.84
United Overseas Bank Ltd 4.95% due
30/09/2016
2,539,238 1.83
Allocation By Industry ^ Market Value % of Net
(Underlying Fund) S$ Assets
LionGlobal Asia Pacifi c Fund
Financial 21,846,539 33.81
Technology 9,615,294 14.89
Basic Materials 5,651,092 8.75
Consumer, Cyclical 5,425,398 8.40
Consumer, Non-cyclical 5,079,999 7.87
Industrial 4,868,357 7.54
Energy 4,407,396 6.82
Communications 4,266,457 6.61
Utilities 1,376,304 2.13
Funds 1,000,726 1.55
Others** 1,050,068 1.63
Total 64,587,630 100.00
Funds Information
** Includes any other countries and net current assets.
** Includes any other industries and net current assets.
99

GREATLINK LION ASIAN BALANCED FUND report as at 30 June 2012
Allocation By Country ^ Market Value % of Net
(Underlying Fund) S$ Assets
LionGlobal Singapore Fixed Income
Investment (Class A Units)
Australia 716,200 0.28
China 998,419 0.39
Great Britain 3,117,880 1.21
Hong Kong 9,837,904 3.82
India 1,259,375 0.49
Korea 3,140,236 1.22
Malaysia 4,566,565 1.77
Russia 1,252,489 0.49
Singapore 218,256,126 84.72
United State of America 3,547,355 1.38
Accrued interest receivable on debt securities 1,909,573 0.73
Others** 9,011,498 3.50
Total 257,613,620 100.00
Allocation By Industry ^ Market Value % of Net
(Underlying Fund) S$ Assets
LionGlobal Singapore Fixed Income
Investment (Class A Units)
Communications 1,599,095 0.62
Consumer, Cyclical 5,568,597 2.16
Consumer, Non-cyclical 450,380 0.18
Financial 107,733,888 41.82
Industrial 21,596,033 8.38
Sovereign 103,135,423 40.04
Technology 751,331 0.29
Utilities 5,857,802 2.27
Accrued interest receivable on debt securities 1,909,573 0.74
Others** 9,011,498 3.50
Total 257,613,620 100.00
** Includes any other industries and net current assets.
** Includes any other countries and net current assets.
Allocation By Asset Class ^ Market Value % of Net
(Underlying Fund) S$ Assets
LionGlobal Asia Pacifi c Fund
Equities 63,537,562 98.37
Cash and cash equivalents 1,050,068 1.63
Total 64,587,630 100.00
LionGlobal Singapore Fixed Income Investment (Class A Units)
Debt Securities (including accrued interest 248,602,122 96.50
on debt securities)
Derivatives 361,849 0.14
Cash and Cash Equivalent 8,649,649 3.36
Total 257,613,620 100.00
Funds Information
Credit Rating of Debt Securities ^ Market Value % of Net
(Underlying Fund) S$ Assets
LionGlobal Singapore Fixed Income Investment (Class A Units)
A1 12,782,337 4.96
A2 1,801,939 0.70
A3 6,778,172 2.63
Aa1 1,592,521 0.62
Aa2 3,102,405 1.20
Aa3 4,318,765 1.68
Aaa 90,876,575 35.28
Baa1 3,292,720 1.28
Baa2 4,654,597 1.81
Not rated 117,492,518 45.60
Accrued interest receivable on debt securities 1,909,573 0.74
248,602,122 96.50
100

GREATLINK LION ASIAN BALANCED FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Lion Asian Balanced Fund * 1.47% 1.34% 48.00% 51.00%
Underlying Fund - LionGlobal Asia Pacifi c 1.82% 1.65% 51.00% 35.00%
Fund # ^
Underlying Fund - LionGlobal Singapore
Fixed Income Investment (Class A Units) # ^
0.64% 0.60% 45.00% 67.00%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
* The expense and turnover ratios of the two underlying funds based on 50% of investments into each underlying fund are included to compute the fi nal ratio.
#
The expense and turnover ratios of the underlying fund - LionGlobal Singapore Fixed Income Investment (Class A Units) are computed for period from 1 July 2011 to 30 June
2012. The ratios for period 1 January 2012 to 30 June 2012 are not available. The expense and turnover ratios of the two underlying fund are based on unaudited accounts.
Exposure to Derivatives Market Value % of Net
(Underlying Fund) S$ Assets
LionGlobal Asia Pacifi c Fund
i) Market value of derivative contracts - 0.00
ii) Net loss on derivative realised (61,992)
iii) Net gain on outstanding derivatives -
LionGlobal Singapore Fixed Income Investment Class A
i) Market value of derivative contracts
Forward foreign exchange contract 361,849 0.14
ii) Net loss on derivative realised (320,057)
iii) Net gain on outstanding derivatives 361,849
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 2,464,102
Redemptions 5,844,192
Related-Party Transactions
The GreatLink Lion Asian Balanced Fund invests 45.43% and 54.57% of its net assets value in LionGlobal Asia Pacifi c Fund and LionGlobal Singapore
Fixed Income Investment (Class A Units) respectively. These underlying funds are managed By Lion Global Investors Limited, a related company of The
Great Eastern Life Assurance Company Limited.
Any material information that will adversely impact the valuation of the fund
Nil.
^ Source: Lion Global Investors Ltd
Funds Information
101

Funds Information
GREATLINK LION VIETNAM FUND report as at 30 June 2012
Investments in Collective Investment
Schemes
Market Value
S$
% of Net
Assets
Unit Trust
LionGlobal Vietnam Fund - Singapore 7,516,255 99.96
Other net liabilities 2,707 0.04
7,518,962 100.00
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2012 ^ S$ Assets
Vingroup Joint Stock Company 7,871,764 12.45
Masan Group 6,760,365 10.70
Joint Stock Company Bank For Foreign 4,710,247 7.45
Trade Of Vietnam
Vietnam Joint Stock Commercial Bank For 4,357,638 6.89
Industry And Trade
Sacombank 3,695,468 5.85
Baoviet Holdings 3,288,381 5.20
Hoa Phat Group Joint Stock Company 3,242,895 5.13
Hoang Anh Gia Lai Group Joint Stock 3,128,989 4.95
Company
Petrovietnam Fertilizer & Chemicals Joint 2,591,009 4.10
Stock Company
Petrovietnam Drilling And Well Services
Joint Stock Company
2,574,988 4.07
Allocation By Country ^ Market Value % of Net
(Underlying Fund) S$ Assets
Vietnam 61,013,905 96.53
Others** 2,193,014 3.47
Total 63,206,919 100.00
** Includes any other countries and net current assets.
Allocation By Asset Class ^ Market Value % of Net
(Underlying Fund) S$ Assets
Equities 61,013,905 96.53
Cash and cash equivalents 2,193,014 3.47
Total 63,206,919 100.00
Credit Rating of Debt Securities ^ Market Value % of Net
(Underlying Fund) S$ Assets
Not applicable.
Top 10 Holdings of Underlying Fund Market Value % of Net
as at 30 June 2011 ^ S$ Assets
Vincom Joint Stock Company 5,408,351 10.08
Baoviet Holdings 5,339,594 9.95
Masan Group 4,910,687 9.15
FPT Corporation 3,126,760 5.83
Petrovietnam Drilling & Well Services Joint 3,024,417 5.64
Stock Company
Petrovietnam Fertilizer & Chemical Joint 2,477,153 4.62
Stock Company
Hoa Phat Group Joint Stock Company 2,436,172 4.54
Vietnam Joint Stock Commercial Bank For 2,433,131 4.54
Industry And Trade
Joint Stock Commercial Bank For Foreign 1,929,426 3.60
Trade Of Vietnam
Saigon Thuong Tin Commercial Joint
Stock Bank
1,359,691 2.53
Allocation By Industry ^ Market Value % of Net
(Underlying Fund) S$ Assets
Basic Materials 4,283,187 6.78
Communications 2,508,009 3.97
Consumer, Cyclical 1,827,573 2.89
Consumer, Non-Cyclical 11,251,351 17.80
Energy 2,574,988 4.07
Financial 29,257,888 46.29
Industrial 8,809,596 13.94
Utilities 501,313 0.79
Others** 2,193,014 3.47
Total 63,206,919 100.00
** Includes any other industries and net current assets.
102

Funds Information
GREATLINK LION VIETNAM FUND report as at 30 June 2012
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Lion Vietnam Fund * 1.94% 1.96% 8.00% 52.00%
Underlying Fund # 1.93% 1.96% 8.00% 52.00%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
* The expense ratio of the underlying fund is included to compute the fi nal ratio.
#
The expense and turnover ratios of the underlying fund are based on unaudited accounts.
Exposure to Derivatives ^ Market Value % of Net
(Underlying Fund) S$ Assets
i) Market value of derivative contracts - 0.00
ii) Net loss on derivative realised (53,499)
iii) Net gain on outstanding derivatives -
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions 1,394,509
Redemptions 502,606
Related-Party Transactions
The GreatLink Lion Vietnam Fund invests 100% of its net assets value in LionGlobal Vietnam Fund, which is managed By Lion Global Investors Limited, a
related company of The Great Eastern Life Assurance Company Limited.
Any material information that will adversely impact the valuation of the fund
Nil.
^ Source: Lion Global Investors Ltd
103

GREATLINK CHOICE (AUG 2013) FUND report as at 30 June 2012
Top 10 Holdings
Market Value % of Net
as at 30 June 2012
S$
Assets
Signum Platinum I Ltd 0.000 31/08/2013 350,332 95.04
Allocation by Country Market Value % of Net
S$ Assets
Singapore 350,332 95.04
Others* 18,282 4.96
Total 368,614 100.00
* Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Structured Products 350,332 95.04
Other net assets 18,282 4.96
Total 368,614 100.00
Top 10 Holdings
Market Value % of Net
as at 30 June 2011
S$
Assets
Signum Platinum I Ltd 0.000 31/08/2013 351,116 95.07
Allocation By Industry Market Value % of Net
S$ Assets
Financial Intermediaries 350,332 95.04
Others* 18,282 4.96
Total 368,614 100.00
* Includes any other industries and net current assets.
Credit Rating of Debt Securities Market Value % of Net
(by S&P or equivalent) S$ Assets
Structured Products
Not Rated 350,332 95.04
Investments By Maturity Market Value % of Net
S$ Assets
Structured Products
Up to 5 years 350,332 95.04
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Choice (Aug 2013) Fund 2.03% 1.94% 0.00% 0.00%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives
Not applicable.
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Funds Information
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions -
Redemptions -
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
104

GREATLINK CHOICE (DEC 2013) FUND report as at 30 June 2012
Top 10 Holdings
Market Value % of Net
as at 30 June 2012
S$
Assets
Signum Platinum II Ltd 0.000 31/12/2013 8,816 91.00
Allocation by Country Market Value % of Net
S$ Assets
Singapore 8,816 91.00
Others* 872 9.00
Total 9,688 100.00
* Includes any other countries and net current assets.
Allocation By Asset Class Market Value % of Net
S$ Assets
Structured Products 8,816 91.00
Cash and cash equivalents 872 9.00
Total 9,688 100.00
Top 10 Holdings
Market Value % of Net
as at 30 June 2011
S$
Assets
Signum Platinum II Ltd 0.000 31/12/2013 20,313 95.91
Allocation By Industry Market Value % of Net
S$ Assets
Financial Intermediaries 8,816 91.00
Others* 872 9.00
Total 9,688 100.00
* Includes any other industries and net current assets.
Credit Rating of Debt Securities Market Value % of Net
(by S&P or equivalent) S$ Assets
Structured Products
Not Rated 8,816 91.00
Investments By Maturity Market Value % of Net
S$ Assets
Structured Products
Up to 5 years 8,816 91.00
Expense/Turnover Ratios
Expense Ratio
Turnover Ratio
30 June 2012 30 June 2011 30 June 2012 30 June 2011
GreatLink Choice (Dec 2013) Fund 2.33% 1.59% 0.00% 0.00%
Note: The expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fees, foreign exchange gains or
losses, front or back end loads arising from the purchase or sale of collective investment schemes, tax deducted at source or arising out of income received, dividend and other
distributions paid to unit holders and is calculated for the preceding 12 months.
Exposure to Derivatives
Not applicable.
Investments in Collective Investment Schemes
Not applicable.
Borrowings
Not applicable.
Total amount of Subscriptions and Redemptions for the period ended 30 June 2012
S$
Subscriptions -
Redemptions -
Related-Party Transactions
Not applicable.
Any material information that will adversely impact the valuation of the fund
Nil.
Funds Information
105

SOFT DOLLAR COMMISSIONS report as at 30 June 2012
Funds managed by Lion Global Investors Ltd
The soft dollar commissions from various brokers for the year were utilised on research and advisory
services, economic and political analyses, portfolio analyses, market analyses, data and quotation
analyses and computer hardware and software used for and in support of the investment process of
fund managers. Goods and services received were for the benefi t of the scheme and there was no
churning of trades. These brokers also execute trades for other funds managed by the Managers.
The trades are conducted on best available terms and in accordance with best practices.
Fund managed by Alliance Bernstein (Singapore) Ltd**
During the period ended February 29, 2012, although currently the Management Company does not receive
or enter into soft-dollar commissions/arrangements, the Investment Manager does receive and has entered
into soft-dollar commissions/arrangements with brokers relating to Portfolios of the Fund that invest in equity
securities, in respect of which certain goods and services used to support the investment decision making
process were received. The soft commission arrangements were entered into on the basis that the execution
of transactions on behalf of the Fund will be consistent with best execution standards and brokerage rates
will not be in excess of customary institutional full-service brokerage rates. The goods and services received
include specialist industry, company and consumer research, portfolio and market analysis and computer
software used for the delivery of such services. The nature of the goods and services received is such that the
benefits provided under the arrangement must be those which assist in the provision of investment services
must be those which assist in the provision of investment services performance. For the avoidance of doubt,
such goods and services do not include travel, accommodations, entertainment, general administrative
goods or services, general office equipment or premises, membership fees, employees’ salaries or direct
money payments.
** Alliance Bernstein (Singapore) Ltd has confirm that their Investment Professionals are strictly prohibited from engaging in any
portfolio or market manipulative practices, including, but not limited to churning of trade. The Investment Manager will not enter into
unnecessary trades in order to qualify for soft-dollar commissions/arrangements.
Soft Dollar Commissions
Fund managed by Deutsche Asset Management (Asia) Ltd
Soft dollar commissions are benefi ts accorded to Manager by their brokers, usually in the form of
research, advisory, analysis and data services, computer hardware or software used for and/or in
support of the investment process.
The Manager’s policy on soft dollar commissions is as follows:
- the goods and services received would assist in the provision of investment services and advices
or related services to the unit trust;
- transactions are executed on the best available terms; and
- the Manager does not engage in unnecessary trades in order to qualify for soft dollar
commissions.
Soft dollar commissions were received from the Manager’s panel of soft dollar brokers which
executed transactions for the unit trust and other funds managed by the Managers.
106

Soft Dollar Commissions
SOFT DOLLAR COMMISSIONS report as at 30 June 2012
Fund managed by Schroders Investment Management (Singapore) Ltd
Each Investment Manager may enter into soft commission arrangements only where there is a direct
and identifi able benefi t to the clients of the Investment Manager, including the Sub-Fund, and where
the Investment Manager is satisfi ed that the transactions generating the soft commissions are made
in good faith, in strict compliance with applicable regulatory requirements and in the best interests
of the relevant Sub-Fund. Any such arrangements must be made by the Investment Manager on
terms commensurate with best market practice.
Fund managed by Capital International, Inc.
NIL.
Fund managed by Aberdeen Asset Management Asia Ltd
NIL.
Fund managed by Goldman Sachs (Singapore) Pte Ltd
NIL.
107

CAPITAL ACCOUNT (unaudited) for the period 1 January 2012 to 30 June 2012
GreatLink Cash
Fund
GreatLink
ASEAN Growth
Fund
GreatLink
Enhancer Fund
GreatLink
Global Supreme
Fund
GreatLink Pan
Asia Fund
GreatLink
European
Equity Fund
S$ S$ S$ S$ S$ S$
Value of Fund at
beginning of the period
131,931,278 327,989,792 428,033,150 343,467,024 20,635,068 13,390,137
Amount paid to the Fund
for creation of units
4,787,933 7,718,004 11,435,217 2,135,818 387,614 298,283
Amount paid by the Fund
for redemption of units
(20,994,961) (9,528,556) (8,960,977) (8,897,250) (735,973) (586,023)
Net cash into/(out of) the
Fund
(16,207,028) (1,810,552) 2,474,240 (6,761,432) (348,359) (287,740)
Investment Income
Interest 912,704 3,157 610 3,294,667 - 10,358
Dividends - 6,400,796 7,566,951 2,370,290 324,369 -
Other income 3,750 150,764 191,799 44,363 6,966 -
916,454 6,554,717 7,759,360 5,709,320 331,335 10,358
Fund Expenses
Management fees (189,150) (2,648,831) (3,447,903) (2,366,147) (161,943) -
Custody fees (7,356) (20,959) (27,278) (27,104) (1,589) (636)
Other expenses - (167) (593) - (46) (800)
(196,506) (2,669,957) (3,475,774) (2,393,251) (163,578) (1,436)
Net income/(loss) 719,948 3,884,760 4,283,586 3,316,069 167,757 8,922
Net gains/(losses) on
investments
Realised gains/(losses) from
investments sold
(444,685) (2,423,011) (14,459,294) 3,795,194 (597,447) 70,050
Unrealised appreciation/
(depreciation) in value of
investments
(296,997) 16,591,666 20,033,565 2,449,909 713,425 299,831
Capital Account
Net gains/(losses) on foreign
exchange
Net gains/(losses) in fair
value on derivatives
64,779 (20,023) (562,562) (291,042) (12,378) (14)
378,174 (478) 13,428 (2,920,435) 317 -
(298,729) 14,148,154 5,025,137 3,033,626 103,917 369,867
Less: Income Tax - (633,479) (268,743) (420,820) (14,947) -
Less: Distribution - - - - - -
Value of Fund at
end of the period
116,145,469 343,578,675 439,547,370 342,634,467 20,543,436 13,481,186
108

CAPITAL ACCOUNT (unaudited) for the period 1 January 2012 to 30 June 2012
GreatLink
Global Equity
Fund
GreatLink
Global
Optimum Fund
GreatLink
Global
Technology
Fund
GreatLink
Global Growth
Trends Portfolio
GreatLink
Global Bond
Fund
GreatLink
Global
Opportunities
Fund
S$ S$ S$ S$ S$ S$
Value of Fund at
beginning of the period
41,977,881 38,133,245 43,752,467 13,087,638 241,563,010 83,293,960
Amount paid to the Fund
for creation of units
990,507 120,946 989,898 560,251 6,815,875 212,382
Amount paid by the Fund
for redemption of units
(1,655,083) (1,074,713) (1,636,034) (484,928) (6,867,215) (583,614)
Net cash into/(out of) the
Fund
(664,576) (953,767) (646,136) 75,323 (51,340) (371,232)
Investment Income
Interest 26 335,379 - - 3,383,337 -
Dividends 478,216 - 191,314 - - -
Other income 5,688 12,112 32,800 - 15,184 818
483,930 347,491 224,114 - 3,398,521 818
Fund Expenses
Management fees (357,117) (206,614) (389,024) (62,641) (1,054,456) (22,294)
Custody fees (3,436) (2,294) (2,904) (650) (14,557) (3,967)
Other expenses - (202) (11) - - (49,678)
(360,553) (209,110) (391,939) (63,291) (1,069,013) (75,939)
Net income/(loss) 123,377 138,381 (167,825) (63,291) 2,329,508 (75,121)
Net gains/(losses) on
investments
Realised gains/(losses) from
investments sold
389,844 (375,667) 1,000,297 (9,851) 1,354,416 7,842
Unrealised appreciation/
(depreciation) in value of
investments
1,029,121 327,101 3,680,284 431,376 (310,030) 1,058,352
Net gains/(losses) on foreign
exchange
Net gains/(losses) in fair
value on derivatives
(75,193) (21,645) (21,252) - 31,096 (5)
117,766 13,247 2,981 - 1,977,727 -
1,461,538 (56,964) 4,662,310 421,525 3,053,209 1,066,189
Less: Income Tax (46,573) - (36,939) - - 48,868
Less: Distribution - - - - - -
Value of Fund at
end of the period
42,851,647 37,260,895 47,563,877 13,521,195 246,894,387 83,962,664
Capital Account
109

CAPITAL ACCOUNT (unaudited) for the period 1 January 2012 to 30 June 2012
GreatLink Far
East Ex Japan
Equities Fund
GreatLink
Singapore
Equities Fund
GreatLink
Global Equity
Alpha Fund
GreatLink
Stable Bond
Fund
GreatLink
Global
Real Estate
Securities Fund
GreatLink Lion
Japan Growth
Fund
S$ S$ S$ S$ S$ S$
Value of Fund at
beginning of the period
52,644,336 104,601,529 71,191,575 61,108,084 90,350,675 4,481,472
Amount paid to the Fund
for creation of units
1,944,190 4,790,382 124,881 6,892,062 3,004,855 118,290
Amount paid by the Fund
for redemption of units
(2,359,701) (5,034,116) (772,628) (8,413,494) (2,501,375) (341,674)
Net cash into/(out of) the
Fund
(415,511) (243,734) (647,747) (1,521,432) 503,480 (223,384)
Investment Income
Interest - - - - 215 -
Dividends 836,367 1,865,761 - - 505,216 -
Other income 18,272 170,745 11,034 49 1,625,409 2,206
854,639 2,036,506 11,034 49 2,130,840 2,206
Fund Expenses
Management fees (424,829) (866,319) (3,475) - (789,176) -
Custody fees (4,339) (6,854) (224,681) (2,882) (6,244) (201)
Other expenses (120) (394) (21,926) - - -
(429,288) (873,567) (250,082) (2,882) (795,420) (201)
Net income/(loss) 425,351 1,162,939 (239,048) (2,833) 1,335,420 2,005
Net gains/(losses) on
investments
Realised gains/(losses) from
investments sold
(2,356,486) (3,561,029) (211,500) 271,869 1,023,113 (102,421)
Unrealised appreciation/
(depreciation) in value of
investments
3,870,313 11,707,396 2,652,660 621,432 7,847,600 45,071
Capital Account
Net gains/(losses) on foreign
exchange
Net gains/(losses) in fair
value on derivatives
(40,399) - (1,696) - (89,737) -
1,624 (878) - - 6,571 -
1,475,052 8,145,489 2,439,464 893,301 8,787,547 (57,350)
Less: Income Tax (42,398) - 11,442 - (340,235) -
Less: Distribution - - - - - -
Value of Fund at
end of the period
54,086,830 113,666,223 72,755,686 60,477,120 100,636,887 4,202,743
110

CAPITAL ACCOUNT (unaudited) for the period 1 January 2012 to 30 June 2012
GreatLink
China Growth
Fund
GreatLink Lion
India Fund
GreatLink Lion
Global Flexi
Fund
GreatLink Lion
Asian Balanced
Fund
GreatLink Lion
Vietnam Fund
GreatLink
LifeStyle
Secure
Portfolio
S$ S$ S$ S$ S$ S$
Value of Fund at
beginning of the period
146,263,269 85,920,395 5,695,015 77,747,660 5,362,846 56,247,398
Amount paid to the Fund
for creation of units
4,511,363 3,738,989 343,436 2,464,102 1,394,509 3,449,642
Amount paid by the Fund
for redemption of units
(7,288,665) (3,046,495) (481,796) (5,844,192) (502,606) (3,468,919)
Net cash into/(out of) the
Fund
(2,777,302) 692,494 (138,360) (3,380,090) 891,903 (19,277)
Investment Income
Interest - - - - - 480,055
Dividends 2,450,982 - - - - 96,103
Other income 67,894 - - - - 4,921
2,518,876 - - - - 581,079
Fund Expenses
Management fees (1,164,899) (32,559) (2,915) (89,738) (41) (191,745)
Custody fees (11,381) (4,102) (272) (3,593) (364) (11,275)
Other expenses - - - - - (2,551)
(1,176,280) (36,661) (3,187) (93,331) (405) (205,571)
Net income/(loss) 1,342,596 (36,661) (3,187) (93,331) (405) 375,508
Net gains/(losses) on
investments
Realised gains/(losses) from
investments sold
(10,331,233) (325,539) (52,386) (971,423) (29,216) 146,773
Unrealised appreciation/
(depreciation) in value of
investments
11,997,453 2,396,634 179,362 2,298,984 1,293,834 463,829
Net gains/(losses) on foreign
exchange
Net gains/(losses) in fair
value on derivatives
(34,680) - - - - 1,564
19,657 - - - - 280,654
1,651,197 2,071,095 126,976 1,327,561 1,264,618 892,820
Less: Income Tax (41,929) - - - - (5,162)
Less: Distribution - - - - - -
Value of Fund at
end of the period
146,437,831 88,647,323 5,680,444 75,601,800 7,518,962 57,491,287
Capital Account
111

CAPITAL ACCOUNT (unaudited) for the period 1 January 2012 to 30 June 2012
GreatLink
LifeStyle
Steady Portfolio
GreatLink
LifeStyle
Balanced
Portfolio
GreatLink
LifeStyle
Progressive
Portfolio
GreatLink
LifeStyle
Dynamic
Portfolio
GreatLink
Choice (Aug
2013) Fund
GreatLink
Choice (Dec
2013) Fund
S$ S$ S$ S$ S$ S$
Value of Fund at
beginning of the period
30,039,545 365,525,819 48,788,318 18,354,452 243,815 8,702
Amount paid to the Fund
for creation of units
528,735 3,672,273 3,079,088 944,579 - -
Amount paid by the Fund
for redemption of units
(1,967,492) (9,787,006) (928,701) (517,737) - -
Net cash into/(out of) the
Fund
(1,438,757) (6,114,733) 2,150,387 426,842 - -
Investment Income
Interest 211,749 1,903,392 160,067 51 10,945 872
Dividends 93,168 1,795,019 347,913 163,546 - -
Other income 3,641 60,579 10,803 4,757 - -
308,558 3,758,990 518,783 168,354 10,945 872
Fund Expenses
Management fees (106,842) (1,384,125) (203,380) (72,319) - -
Custody fees (9,780) (178,449) (33,354) (15,581) - -
Other expenses (2,627) (50,820) (9,708) (4,660) - (1,748)
(119,249) (1,613,394) (246,442) (92,560) - (1,748)
Net income/(loss) 189,309 2,145,596 272,341 75,794 10,945 (876)
Net gains/(losses) on
investments
Realised gains/(losses) from
investments sold
5,643 (1,076,819) (318,493) (184,110) - -
Unrealised appreciation/
(depreciation) in value of
investments
422,459 7,502,469 1,325,221 641,256 113,854 1,862
Capital Account
Net gains/(losses) on foreign
exchange
Net gains/(losses) in fair
value on derivatives
(723) (40,492) (10,205) (5,680) - -
123,812 1,113,476 93,744 119 - -
551,191 7,498,634 1,090,267 451,585 113,854 1,862
Less: Income Tax (4,950) (89,398) (17,070) (7,769) - -
Less: Distribution - - - - - -
Value of Fund at
end of the period
29,336,338 368,965,918 52,284,243 19,300,904 368,614 9,688
112

STATEMENT OF ASSETS AND LIABILITIES (unaudited) as at 30 June 2012
GreatLink
Cash Fund
GreatLink
ASEAN Growth
Fund
GreatLink
Enhancer Fund
GreatLink
Global
Supreme Fund
GreatLink Pan
Asia Fund
GreatLink
European
Equity Fund
S$ S$ S$ S$ S$ S$
INVESTMENT PORTFOLIO
Equities - 334,742,109 435,417,045 157,868,951 20,291,640 13,471,855
Fixed income securities 41,574,640 - - 177,728,340 - -
Structured products - - - - - -
Value of Investments 41,574,640 334,742,109 435,417,045 335,597,291 20,291,640 13,471,855
CURRENT ASSETS
Fixed deposits 57,326,198 3,500,015 - 340,406 - -
Cash at bank 4,754,501 5,956,953 3,579,632 6,213,758 256,120 -
Short term instruments 1,999,712 - - 6,098,502 - -
Accrued interest 392,437 19 - 1,915,615 - -
Dividend receivable - 214,038 2,316,031 342,858 74,705 -
Due from brokers 335,505 5,492,703 - 11,530,818 286 2,207
Financial derivatives at fair
value
38,428 1,309 - 901,064 - -
Embedded derivatives at
fair value
10,909,658 - - - - -
Other assets - - - - - 9,722
Total Assets 117,331,079 349,907,146 441,312,708 362,940,312 20,622,751 13,483,784
CURRENT LIABILITIES
Due to brokers 1,002,900 4,991,770 40,246 17,444,387 - 2,586
Financial derivatives
at fair value
72,193 - - 423,669 - -
Other liabilities 110,517 1,336,701 1,725,092 2,437,789 79,315 12
Value of fund at end of
the period
116,145,469 343,578,675 439,547,370 342,634,467 20,543,436 13,481,186
Units in issue 93,884,223 140,029,062 237,128,415 281,033,606 27,637,837 22,121,943
Net Asset Value
per Unit
1.237 2.454 1.854 1.219 0.743 0.609
Assets and Liabilities
113

STATEMENT OF ASSETS AND LIABILITIES (unaudited) as at 30 June 2012
GreatLink
Global Equity
Fund
GreatLink
Global
Optimum Fund
GreatLink
Global
Technology
Fund
GreatLink
Global Growth
Trends
Portfolio
GreatLink
Global Bond
Fund
GreatLink
Global
Opportunities
Fund
S$ S$ S$ S$ S$ S$
INVESTMENT PORTFOLIO
Equities 41,923,898 13,983,486 47,280,011 13,557,998 - 83,973,320
Fixed income securities - 22,691,388 - - 220,842,623 -
Structured products - - - - - -
Value of Investments 41,923,898 36,674,874 47,280,011 13,557,998 220,842,623 83,973,320
CURRENT ASSETS
Fixed deposits 51,690 - - - 2,890,921 -
Cash at bank 1,094,412 837,953 414,220 26,292 1,206,827 96,560
Short term instruments - - - - 71,193,044 -
Accrued interest - 145,853 - - 1,932,661 -
Dividend receivable 86,837 4,303 5,111 - - 766
Due from brokers 14,589 464,907 314,149 17,080 62,160,139 81,708
Financial derivatives at fair
value
36,913 12,671 - - 425,443 -
Embedded derivatives at
fair value
- - - - - -
Other assets - - - - - -
Total Assets 43,208,339 38,140,561 48,013,491 13,601,370 360,651,658 84,152,354
CURRENT LIABILITIES
Assets and Liabilities
Due to brokers 6,519 639,785 68,737 16,884 109,876,941 91,353
Financial derivatives
at fair value
- 14,861 - - 2,839,780 -
Other liabilities 350,173 225,020 380,877 63,291 1,040,550 98,337
Value of fund at end of
the period
42,851,647 37,260,895 47,563,877 13,521,195 246,894,387 83,962,664
Units in issue 79,100,586 39,262,875 116,802,063 17,623,775 170,387,438 103,986,952
Net Asset Value
per Unit
0.542 0.949 0.407 0.767 1.449 0.807
114

STATEMENT OF ASSETS AND LIABILITIES (unaudited) as at 30 June 2012
INVESTMENT PORTFOLIO
GreatLink Far
East Ex Japan
Equities Fund
GreatLink
Singapore
Equities Fund
GreatLink
Global Equity
Alpha Fund
GreatLink
Stable Bond
Fund
GreatLink
Global
Real Estate
Securities
Fund
GreatLink Lion
Japan Growth
Fund
S$ S$ S$ S$ S$ S$
Equities 52,249,217 110,572,994 72,897,344 - 99,382,336 4,200,086
Fixed income securities - - - 60,330,753 - -
Structured products - - - - - -
Value of Investments 52,249,217 110,572,994 72,897,344 60,330,753 99,382,336 4,200,086
CURRENT ASSETS
Fixed deposits - - - - 474,303 -
Cash at bank 1,800,795 4,453,016 139,934 2,700 1,144,296 -
Short term instruments - - - - - -
Accrued interest - - - - - -
Dividend receivable 233,838 56,463 1,521 - 383,515 -
Due from brokers 12,371 115,046 68,764 233,020 704,265 8,826
Financial derivatives at fair
value
- - - - 575 -
Embedded derivatives at
fair value
- 878 - - - -
Other assets - - - - - 2,005
Total Assets 54,296,221 115,198,397 73,107,563 60,566,473 102,089,290 4,210,917
CURRENT LIABILITIES
Due to brokers - 1,093,787 76,278 86,520 817,765 8,174
Financial derivatives
at fair value
- - - - 557 -
Other liabilities 209,391 438,387 275,599 2,833 634,081 -
Value of fund at end of
the period
54,086,830 113,666,223 72,755,686 60,477,120 100,636,887 4,202,743
Units in issue 33,408,511 64,547,030 115,634,270 49,279,954 135,985,000 7,675,041
Net Asset Value
per Unit
1.619 1.761 0.629 1.227 0.740 0.548
Assets and Liabilities
115

STATEMENT OF ASSETS AND LIABILITIES (unaudited) as at 30 June 2012
GreatLink
China Growth
Fund
GreatLink
Lion India
Fund
GreatLink
Lion Global
Flexi Fund
GreatLink Lion
Asian Balanced
Fund
GreatLink Lion
Vietnam Fund
GreatLink
LifeStyle
Secure
Portfolio
S$ S$ S$ S$ S$ S$
INVESTMENT PORTFOLIO
Equities 140,623,917 88,687,045 5,682,546 75,704,659 7,516,255 10,820,264
Fixed income securities - - - - - 42,848,895
Structured products - - - - - -
Value of Investments 140,623,917 88,687,045 5,682,546 75,704,659 7,516,255 53,669,159
CURRENT ASSETS
Fixed deposits - - - - - 443,629
Cash at bank 4,783,776 16,491 1,435 39,192 384 253,709
Short term instruments - - - - - 10,100,753
Accrued interest - - - - - 274,203
Dividend receivable 1,259,663 - - - - 12,809
Due from brokers 2,738,043 125,291 9,567 63,446 38,285 8,921,565
Financial derivatives at fair
value
13,565 - - - - 60,374
Embedded derivatives at
fair value
- - - - - -
Other assets - - - - - -
Total Assets 149,418,964 88,828,827 5,693,548 75,807,297 7,554,924 73,736,201
CURRENT LIABILITIES
Assets and Liabilities
Due to brokers 2,411,538 144,843 9,916 112,166 35,557 15,659,592
Financial derivatives
at fair value
- - - - - 402,903
Other liabilities 569,595 36,661 3,188 93,331 405 182,419
Value of fund at end of
the period
146,437,831 88,647,323 5,680,444 75,601,800 7,518,962 57,491,287
Units in issue 173,896,674 112,677,324 7,471,632 83,651,834 17,724,024 40,469,230
Net Asset Value
per Unit
0.842 0.787 0.760 0.904 0.424 1.421
116

STATEMENT OF ASSETS AND LIABILITIES (unaudited) as at 30 June 2012
GreatLink
LifeStyle
Steady
Portfolio
GreatLink
LifeStyle
Balanced
Portfolio
GreatLink
LifeStyle
Progressive
Portfolio
GreatLink
LifeStyle
Dynamic
Portfolio
GreatLink
Choice (Aug
2013) Fund
GreatLink
Choice (Dec
2013) Fund
S$ S$ S$ S$ S$ S$
INVESTMENT PORTFOLIO
Equities 10,795,034 208,987,735 40,273,726 19,144,392 - -
Fixed income securities 16,807,947 143,509,818 10,440,833 - - -
Structured products - - - - 350,332 8,816
Value of Investments 27,602,981 352,497,553 50,714,559 19,144,392 350,332 8,816
CURRENT ASSETS
Fixed deposits 214,071 2,214,653 247,428 50,600 - -
Cash at bank 156,162 2,189,568 346,563 135,150 - -
Short term instruments 4,454,995 40,039,265 3,365,812 - - -
Accrued interest 120,939 1,086,940 91,372 - 18,282 872
Dividend receivable 12,063 257,470 51,578 24,978 - -
Due from brokers 3,958,861 36,064,494 3,133,014 89,209 - -
Financial derivatives at fair
value
26,635 239,491 20,155 19 - -
Embedded derivatives at
fair value
- - - - - -
Other assets - - - - - -
Total Assets 36,546,707 434,589,434 57,970,481 19,444,348 368,614 9,688
CURRENT LIABILITIES
Due to brokers 6,933,599 62,785,467 5,376,185 83,462 - -
Financial derivatives
at fair value
177,703 1,597,104 134,257 - - -
Other liabilities 99,067 1,240,945 175,796 59,982 - -
Value of fund at end of
the period
29,336,338 368,965,918 52,284,243 19,300,904 368,614 9,688
Units in issue 22,975,620 298,620,213 44,248,150 20,095,791 448,000 38,000
Net Asset Value
per Unit
1.277 1.236 1.182 0.960 0.823 0.255
Assets and Liabilities
117

NOTES TO THE ACCOUNTS
Notes to the Accounts
1 GENERAL
The GreatLink Funds comprise:
Direct Funds
GreatLink Cash Fund
GreatLink ASEAN Growth Fund
GreatLink Enhancer Fund
GreatLink Global Supreme Fund
GreatLink Pan Asia Fund
GreatLink Global Equity Fund
GreatLink Global Optimum Fund
GreatLink Global Technology Fund
GreatLink Global Bond Fund
GreatLink Far East Ex Japan Equities Fund
GreatLink Singapore Equities Fund
GreatLink Global Real Estate Securities Fund
GreatLink Choice (Aug 2013) Fund
GreatLink Choice (Dec 2013) Fund
GreatLink China Growth Fund
Feeder Funds
GreatLink European Equity Fund
GreatLink Global Growth Trends Portfolio
GreatLink Global Opportunities Fund
GreatLink Global Equity Alpha Fund
GreatLink Stable Bond Fund
GreatLink Lion Japan Growth Fund
GreatLink Lion India Fund
GreatLink Lion Global Flexi Fund
GreatLink Lion Asian Balanced Fund
GreatLink Lion Vietnam Fund
Fund of Funds (LifeStyle Portfolios)^
GreatLink LifeStyle Secure Portfolio
GreatLink LifeStyle Steady Portfolio
GreatLink LifeStyle Balanced Portfolio
GreatLink LifeStyle Progressive Portfolio
GreatLink LifeStyle Dynamic Portfolio
^ The LifeStyle Portfolios invest in existing GreatLink Funds, namely GreatLink Global Bond Fund, GreatLink Global
Opportunities Fund, GreatLink Global Equity Alpha Fund, GreatLink ASEAN Growth Fund, GreatLink Enhancer Fund
and GreatLink Stable Bond Fund.
2 SIGNIFICANT ACCOUNTING POLICIES
a. Basis of accounting
The fi nancial statements are expressed in Singapore dollars, and are prepared in accordance with the historical cost
convention, except for investments and derivatives which are carried at fair value.
b. Recognition of income and expenses
Dividend income is recognised when the shareholders’ right to receive payment is established. Interest income is
recognised using the effective interest method.
Expenses are recognised on an accrual basis.
118

NOTES TO THE ACCOUNTS
c. Investments
All purchases of investments are recognised on their trade dates, i.e., the date the commitment exists to purchase the
investments. The investments are initially recorded at fair value (or cost representing fair value on trade date) which
would include transaction costs directly attributable to the acquisition of the investments. After initial recognition, the
unrealised gains or losses on remeasurement to fair value are taken to the capital account. Fair value is determined by
using open market valuation at the year-end date. The closing price has been adopted for all investments except for
quoted equity investments. For equity investments traded on exchanges, fair value is derived from the last traded price
on the respective exchange.
Certain investments have been valued using valuation techniques based on assumptions that are supported by prices
from observable current market transactions. The valuation of these investments have either been provided by brokers
or counterparties or valued using internal models.
d. Realised gains/losses from sale of investments
All sales of investments are recognised on their trade dates i.e., the date the fund commits to sell the investments.
Realised gains/losses from sale of investments are taken to the Capital Account.
e. Foreign currency transactions
Foreign currency transactions are translated into Singapore dollars at exchange rates prevailing at the transaction
dates and foreign currency monetary assets and liabilities are translated at the approximate rates ruling at year end.
Differences on exchange are included in the Capital Account.
f. Derivative financial instruments
All derivatives including embedded derivatives are carried at fair value. All fair value changes on derivatives are taken
to the Capital Account. The closing price has been adopted for the valuation of derivatives.
3 DERIVATIVES
The GreatLink Funds enter into derivative contracts for the purposes of hedging foreign currency and interest risk
exposures, and effi cient portfolio management. The derivative contracts traded include foreign exchange forward
contracts and futures.
Notional
Amount
Fair Value
Asset
Fair Value
(Liability)
S$ S$ S$
Forward foreign exchange contracts
GreatLink Cash Fund 9,936,868 38,429 (72,193)
GreatLink Asean Growth Fund 673,911 1,309 -
GreatLink Global Supreme Fund 114,035,366 889,423 (423,278)
GreatLink Global Optimum Fund 1,908,237 12,671 (14,861)
GreatLink Global Bond Fund 216,577,335 395,913 (2,386,844)
GreatLink Global Real Estate Securities Fund 86,721 575 (557)
GreatLink China Growth Fund 1,420,226 13,565 -
Futures purchased
GreatLink Global Supreme Fund 1 6,069 (391)
GreatLink Global Equity Fund 14 36,913 -
GreatLink Global Bond Fund 108 29,530 (452,936)
Equity options
GreatLink Global Supreme Fund 10,057 5,572 -
4 MANAGEMENT FEES
Management fees are payable to The Great Eastern Life Assurance Company Limited and its related company, Lion
Global Investors Limited.
5 DISTRIBUTION TO POLICY HOLDERS
There are no distribution of dividend to policyholders for the period ended 30 June 2012.
Notes to the Accounts
119

GREATLINK FUNDS SUMMARY as at 30 June 2012
Fund Name Investment Objectives Risk Category Launch Date Current
Fund Size
NON-EQUITY
GreatLink Cash Fund To generate a return comparable to S$ time deposits Lower Risk / Broadly
Diversifi ed
GreatLink Stable
Bond Fund
GreatLink Global
Bond Fund
ASIAN EQUITY
GreatLink Pan Asia
Fund
GreatLink Enhancer
Fund
GreatLink Far East ex
Japan Equities Fund
GreatLink ASEAN
Growth Fund
GreatLink Lion Japan
Growth Fund
GreatLink China
Growth Fund
GreatLink Lion India
Fund
GreatLink Singapore
Equities Fund
GreatLink Lion
Vietnam Fund
OTHERS
GreatLink Choice
(Aug 2013)
GreatLink Choice
(Dec 2013)
To achieve an attractive return by investing in single A and above
quality investment grade bonds of Singapore and major bond
markets such as the G7 countries, Australia, New Zealand, Hong
Kong and South Korea. The G7 countries are Canada, France,
Germany, Italy, Japan, UK and US
To achieve excess return relative to the index while minimising
volatility of return relative to the index
To achieve long-term capital growth through investment in
securities quoted on Asian stockmarkets including but not limited
to Singapore, Malaysia, Thailand, Indonesia, Philippines, Hong
Kong, Japan, Taiwan, China, South Korea, Australia, New Zealand
and the Indian sub continent
To achieve long-term capital appreciation by investing primarily
in the equity markets of the Asia Pacifi c Region
To maximise capital growth through investing primarily in equities
of companies based in China, Hong Kong, Indonesia, South Korea,
Malaysia, Philippines, Singapore, Taiwan and Thailand, and also in
other Asia Pacifi c regions except Japan
To achieve long-term capital appreciation by investing in equities
in the economies of the ASEAN region
To provide long-term capital growth of assets of the Fund
by investing primarily in quoted or listed securities in any
Recognised Stock Exchange or OTC market in Japan
Low to Medium Risk /
Broadly Diversifi ed
Low to Medium Risk /
Broadly Diversifi ed
Higher Risk / Narrowly
Focused
Higher Risk / Narrowly
Focused
Higher Risk / Narrowly
Focused
Higher Risk / Narrowly
Focused
Higher Risk / Narrowly
Focused
To achieve medium to long-term capital growth of assets of the Higher Risk / Narrowly
Fund by investing primarily in equity and equity-linked securities Focused
of companies with assets in or earnings derived from the People’s
Republic of China, Hong Kong S.A.R. and Taiwan
To achieve medium to long-term capital appreciation by investing
in Indian equities and equity related instruments
To maximise capital growth through investing primarily in
Singapore equities
To achieve medium to long-term capital appreciation by investing
in Vietnam. The Fund will invest in companies listed in Vietnam
and other companies listed elsewhere that have operations in,
or derive part of their revenue from Vietnam and the Indo-China
region. The Fund may also invest in short-term fi xed income
instruments listed or traded on recognised markets within the
Indo-China region
The Fund objective is to seek to provide policyholders with
(1) Annual payouts of 4.90% of the Initial Unit Price per Unit held
by each policyholder as at each policy anniversary; and
(2) 100% of the Initial Unit Price per Unit held on maturity
The Fund objective is to seek to provide policyholders with
(1) Annual payouts of 4.60% of the Initial Unit Price per Unit held
by each policyholder as at each policy anniversary; and
(2) 100% of the Initial Unit Price per Unit held on maturity
For disclaimer, please refer to page 6.
Higher Risk / Narrowly
Focused
Higher Risk / Narrowly
Focused
Higher Risk / Narrowly
Focused
Mgmt Fee Investment Philosophy Benchmark Index Performance bid-bid basis Fund Manager Sub-Manager
3 mths 6 mths 1 year 3 years 5 years 10 years Since Since
inception inception
(Total (Annualised)
return)
26-Apr-96 $116.15 mil 0.30% p.a. Top-down & Bottom-up approach 1 Month SIBID 0.24 % 0.32 % 0.41 % 0.57 % 1.02 % 1.26 % 30.21 % 1.65 % Lion Global
Investors Ltd
25-Mar-02 $60.48 mil 0.50% p.a. Fundamental & Technical analysis 6 Months SIBOR Less 0.49 % 1.40 % 1.49 % 3.93 % 2.80 % 2.38 % 29.16 % 2.52 % Deutsche Asset
12.5bps
Management
(Asia) Ltd
15-Jan-02 $246.89 mil 0.85% p.a. Top-down & Bottom-up approach Barclays Global Aggregate
Bond Index, 50% Hedged
into SGD
10-Jul-00 $20.54 mil 1.50% p.a. Top-down & Bottom-up approach MSCI AC Asia Pacifi c
Index
26-Apr-96 $439.55 mil 1.50% p.a. Top-down & Bottom-up approach MSCI All Country Asia
Pacifi c ex Japan with Net
Dividends Reinvested
25-Mar-02 $54.09 mil 1.50% p.a. Top-down & Bottom-up approach MSCI AC Far East Free
ex Japan Index with Net
Dividends Reinvested
26-Apr-96 $343.58 mil 1.50% p.a. Top-down & Bottom-up approach MSCI AC South East Asia
Index with Net Dividends
Reinvested
9-Jan-07 $4.20 mil 1.50% p.a. Bottom-up approach TOPIX with Net Dividends
Reinvested, in SGD terms
2.84 % 2.26 % 8.78 % 5.96 % 5.47 % 4.04 % 52.53 % 4.12 % Lion Global
Investors Ltd
-5.83 % 1.09 % -11.76 % -0.31 % -9.92 % 0.66 % -21.79 % -2.03 % Lion Global
Investors Ltd
-5.26 % 2.15 % -14.64 % -0.16 % -5.60 % 7.68 % 95.16 % 4.22 % Lion Global
Investors Ltd
-5.93 % 3.45 % -12.77 % -0.18 % -6.16 % 6.40 % 70.42 % 5.33 % Lion Global
Investors Ltd
-4.14 % 5.32 % -4.85 % 11.87 % -0.43 % 10.86 % 158.32 % 6.04 % Lion Global
Investors Ltd
-6.16 % -1.08 % -6.00 % 0.12 % -10.57 % - -42.32 % -9.56 % Lion Global
Investors Ltd
9-Jan-07 $146.44 mil 1.50% p.a. Bottom-up approach MSCI Golden Dragon -3.66 % 1.94 % -13.55 % -2.77 % -5.66 % - -11.37 % -2.18 % Lion Global
Index with Net Dividends
Investors Ltd
Reinvested, in SGD terms
9-Jan-07 $88.65 mil 1.50% p.a. Bottom-up approach MSCI India with Net
Dividends Reinvested, in
SGD terms
25-Mar-02 $113.67 mil 1.50% p.a. Bottom-up approach MSCI Singapore Free
Index with Net Dividends
Reinvested
-8.70 % 2.21 % -25.61 % -3.94 % -5.76 % - -17.16 % -3.38 % Lion Global
Investors Ltd
-4.66 % 8.84 % -12.13 % 6.54 % -4.13 % 7.73 % 85.37 % 6.20 % Lion Global
Investors Ltd
1-Feb-08 $7.52 mil 1.50% p.a. Bottom-up approach FTSE Vietnam Index -1.17 % 23.98 % 3.16 % -7.74 % - - -55.37 % -16.72 % Lion Global
Investors Ltd
N.A. 31-Aug-06 $368.61 k Initial Management
Fee of 5% of
SP deducted
upfront & Annual
Management Fee
of 0.896% p.a.
deducted from
fund value
N.A. 31-Dec-06 $9.69 k Initial Management
Fee of 5% of
SP deducted
upfront & Annual
Management Fee
of 0.458% p.a.
deducted from
fund value
Rigorous research process supplemented by effective
risk control systems that incorporates both quantitative
and qualitative screening. Emphasis is on initial name
selection for reference portfolios. Portfolio is diversifi ed
across sectors.
Rigorous research process supplemented by effective
risk control systems that incorporates both quantitative
and qualitative screening. Emphasis is on initial name
selection for reference portfolios. Portfolio is diversifi ed
across sectors.
7-year Singapore swap
rate (mid rate) taken on
the start of the initial offer
period on 6 Jul 2006 i.e
3.90%.
7-year Singapore swap
rate (mid rate) taken on
the start of the initial offer
period on 1 Nov 2006 i.e
3.465%.
- - - - - - - - Lion Global
Investors Ltd
- - - - - - - - Lion Global
Investors Ltd
-
-
PIMCO
-
-
-
-
-
-
-
-
-
-
-

GREATLINK FUNDS SUMMARY as at 30 June 2012
Fund Name Investment Objectives Risk Category Launch Date Current
Fund Size
GREATLINK LIFESTYLE PORTFOLIOS
GreatLink Lifestyle To achieve medium to long term capital appreciation for the
Dynamic Portfolio investor
GreatLink Lifestyle To achieve medium to long term capital appreciation for the
Progressive Portfolio investor
GreatLink Lifestyle
Balanced Portfolio
GreatLink Lifestyle
Steady Portfolio
GreatLink Lifestyle
Secure Portfolio
BALANCED
GreatLink Global
Supreme Fund
GreatLink Global
Optimum Fund
GreatLink Lion Global
Flexi Fund
GreatLink Lion Asian
Balanced Fund
GLOBAL EQUITY
GreatLink Global
Equity Fund
GreatLink Global
Opportunities Fund
GreatLink Global
Growth Trends
Portfolio
GreatLink Global
Equity Alpha Fund
GreatLink European
Equity Fund
GreatLink Global
Technology Fund
GreatLink Global Real
Estate Securities
Fund
To achieve medium to long term capital appreciation for the
investor
To achieve medium to long term capital appreciation for the
investor
To achieve medium to long term capital appreciation for the
investor
To maximise total returns in S$ terms over the longer term by
investing in a balanced but diversifi ed portfolio of equities and
debt securities of the major stock & bond markets around the
world
To provide long-term total return in excess of the custom
benchmark while managing the overall risk of the portfolio
To achieve absolute returns over the medium to long term by
investing the assets of the fund in a diversifi ed portfolio of
equities, money market securities, asset-backed securities,
equity-related securities (including, but not limited to, preference
shares, real estate investment trusts, deposited receipts),
fi xed income instruments, other debt-related instruments
such as collateralised debt obligations, and fi nancial derivative
instruments (“FDIs”).The Managers may also invest up to 10% of
the assets of the Fund in hedge funds or fund of hedge funds that
are domiciled either in Singapore or outside of Singapore
To provide long-term total returns consistently in excess of the
custom benchmark while managing the overall risk of the portfolio
by investing into the equity markets of Asia Pacifi c (ex Japan) as
well as primarily in bonds and other debt securities denominated
in Singapore Dollars, through LionGlobal Asia Pacifi c Fund and
LionGlobal Singapore Fixed Income Investment respectively
To seek long-term capital appreciation by investing primarily in a
diversifi ed portfolio of common stocks globally
To provide long-term total return from an internationally
diversifi ed portfolio of securities through investing all or
substantially all of its assets in the Aberdeen Global - World
Equity Fund, which will invest at least two-thirds of its assets in
equities or equity-related securities
To maximise long-term growth of capital by investing principally
in a global portfolio of equity securities. The Portfolio currently
consists of four sub portfolios : Technology, Consumer, Industrial
Cyclicals and Financials
To provide capital growth primarily through investment in equity
securities and equity related securities of company worldwide
Higher Risk / Broadly
Diversifi ed
Higher Risk / Broadly
Diversifi ed
Medium to High Risk /
Broadly Diversifi ed
Medium to High Risk /
Broadly Diversifi ed
Medium to High Risk /
Broadly Diversifi ed
Medium to High Risk /
Broadly Diversifi ed
Medium to High Risk /
Broadly Diversifi ed
Medium to High Risk /
Broadly Diversifi ed
Medium to High Risk /
Narrowly Focused
Higher Risk / Broadly
Diversifi ed
Higher Risk / Broadly
Diversifi ed
Higher Risk / Broadly
Diversifi ed
Higher Risk / Broadly
Diversifi ed
To achieve long-term capital growth through investment in stocks Higher Risk / Narrowly
in the European markets
Focused
To achieve long-term capital growth through investment in global Higher Risk / Narrowly
technology stocks
Focused
To provide investors with medium to long term capital appreciation
and to make regular income distributions by investing globally
in (a) equities securities of companies that derive a substantial
part of their revenue from the ownership, management and/or
development of real estate and (b) Real Estate Investment Trusts
(REITS) listed or traded in a regulated market
Higher Risk / Narrowly
Focused
Mgmt Fee Investment Philosophy Benchmark Index Performance bid-bid basis Fund Manager Sub-Manager
3 mths 6 mths 1 year 3 years 5 years 10 years Since Since
inception inception
(Total (Annualised)
return)
25-Mar-02 $19.30 mil 1.55% p.a. To invest all or substantially in global, Asia Pacifi c ex-Japan Composite of Underlying -4.95 % 2.89 % -6.52 % 3.14 % -8.47 % 1.48 % 1.05 % 0.10 % Lion Global
and ASEAN equities
Funds' Benchmarks
Investors Ltd
25-Mar-02 $52.28 mil 1.41% p.a. To invest approximately 80% of its assets in global, Asia Composite of Underlying -3.19 % 2.78 % -3.35 % 4.09 % -4.88 % 3.14 % 24.42 % 2.15 % Lion Global
Pacifi c ex-Japan and ASEAN equities and 20% in global Funds' Benchmarks
Investors Ltd
bonds
25-Mar-02 $368.97 mil 1.25% p.a. To invest approximately 60% of its assets in global, Asia Composite of Underlying -1.75 % 2.66 % -0.72 % 4.41 % -2.47 % 3.32 % 30.11 % 2.60 % Lion Global
Pacifi c ex-Japan and ASEAN equities and 40% in global Funds' Benchmarks
Investors Ltd
bonds and short duration bonds
25-Mar-02 $29.34 mil 1.10% p.a. To invest approximately 40% of its assets in global, Asia Composite of Underlying -0.39 % 2.49 % 2.00 % 4.75 % 0.02 % 3.36 % 34.42 % 2.92 % Lion Global
Pacifi c ex-Japan and ASEAN equities and 60% in global Funds' Benchmarks
Investors Ltd
bonds and short duration bonds
25-Mar-02 $57.49 mil 0.92% p.a. To invest approximately 20% of its assets in global, Asia Composite of Underlying 0.85 % 2.23 % 4.18 % 5.24 % 2.88 % 4.08 % 49.58 % 4.00 % Lion Global
Pacifi c ex-Japan and ASEAN equities and 80% in global Funds' Benchmarks
Investors Ltd
bonds and short duration bonds
1-Jul-99 $342.63 mil 1.35% p.a. To invest approximately 50% of its assets in global equities
and 50% in global bonds
23-May-01 $37.26 mil 1.35% p.a. To invest approximately 40% of its assets in global equities
and 60% in global bonds
50% MSCI World Net &
50% Citigrp World Gov
Bond Index (unhedged)
-0.08 % 1.75 % 4.10 % 5.10 % -0.52 % 2.59 % 28.32 % 1.94 % Lion Global
Investors Ltd
40% MSCI World Net & -2.16 % 0.21 % -1.25 % 1.19 % -3.45 % 0.51 % 0.00 % 0.00 % Lion Global
60% Citigroup World Govt
Investors Ltd
Bond Index (unhedged)
24-Jul-07 $5.68 mil 1.35% p.a. Top-down & Bottom-up approach 12-months Singapore -1.55 % 2.01 % -4.16 % 0.00 % - - -20.00 % -4.42 % Lion Global
Interbank Bid Rate (SIBID)
Investors Ltd
+ 2.5%
1-Feb-08 $75.60 mil 1.35% p.a. Top-down & Bottom-up approach 50% MSCI All Countries
Asia Pacifi c ex Japan
Index (Net) + 50% JP
Morgan Singapore Government
Bond Index
1-Aug-00 $42.85 mil 1.60% p.a. Quantitative valuation via use of country/currency and stock
selection models
25-Mar-02 $83.96 mil 1.60% p.a. Bottom-up approach MSCI World Index
with Gross Dividends
Reinvested
-2.48 % 1.57 % -6.22 % 1.87 % - - -4.84 % -1.12 % Lion Global
Investors Ltd
MSCI World Index with -4.07 % 3.83 % -4.91 % 5.39 % -8.37 % -0.90 % -42.95 % -4.60 % Goldman Sachs
Net Dividends Reinvested (Singapore)
Pte. Ltd.
-4.16 % 1.13 % -0.25 % 5.72 % -7.86 % 0.01 % -15.05 % -1.58 % Aberdeen Asset
Management
Asia Ltd
15-Aug-01 $13.52 mil 1.60% p.a. Bottom-up growth driven approach MSCI World Index with -7.81 % 2.82 % -6.23 % 2.18 % -12.21 % -1.59 % -19.26 % -1.95 % AllianceBernstein
Net Dividends Reinvested (Singapore) Ltd
25-Mar-02 $72.76 mil 1.60% p.a. Bottom-up approach MSCI World Index with
Net Dividends Reinvested
-6.12 % 3.11 % -7.23 % 0.86 % -12.34 % -2.72 % -33.79 % -3.94 % Schroder
Investment
Management Ltd
10-Jul-00 $13.48 mil 1.60% p.a. Bottom-up multi-manager platform approach MSCI Europe Index, with -6.45 % 2.70 % -11.35 % 0.44 % -12.15 % -0.48 % -35.89 % -3.65 % Capital
Net Dividends Reinvested
15-Jan-01 $47.56 mil 1.60% p.a. Bottom-up approach, growth bias MSCI AC World IT Free
with Net Dividends
Reinvested
8-Jun-05 $100.64 mil 1.60% p.a. Top-down & Bottom-up approach S&P Citigroup BMI World
Property Index with Net
Dividends Reinvested
International, Inc
-4.24 % 10.00 % 5.99 % 12.35 % -2.67 % -0.82 % -57.16 % -7.13 % Lion Global
Investors Ltd
1.93 % 10.78 % 4.14 % 11.63 % -6.11 % - -0.23 % -0.03 % Lion Global
Investors Ltd
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-
-
-
-
PIMCO &
Brandywine (Fixed
Income) / Capital
Int’l, Acadian Asset
Mgm't, INTECH
(Equity)
Loomis, Sayles
(Fixed Income) /
AllianceBernstein
(Equity)
-
-
-
-
-
-
-
Wellington Int’l
Mgmt
Pramerica
Investment Mgmt
For disclaimer, please refer to page 6.

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