AIA Brunei Funds - Baiduri Bank

AIA Brunei Funds 2We became more defensive by shifting out of Zoomlion into China Mobile. We also cut into China banks because of the possible effects on NIMs.We also shifted to BOC HK and to the bigger oil stocks such as CNOOC and Petrochina. We are likely to cut our overweight in South Korea movingforward.We think the general market will remain volatile over the coming months. The solution in Europe seemed to be quite temporary although a possiblequantitative exercise may provide some short term relief to the market. Although, it seems that since valuations are generally near the low enddownside,risks may be limited at the moment.BondsGlobal government bond returns partially relinquished May gains in response to a firmer risk appetite prompted both by the formation of a Greekgovernment at the second time of asking coupled with Eurozone progress on funds to assist the Spanish bank sector. Southern Eurozone peripheralspreads re-tightened, led by Italy. In FX, the Japanese Yen was the chief underperformer.Aggregate FX strategy contributed positively to the Fund, led by an overweight Australian Dollar and Mexican Peso positioning versus both theEuro and US dollar. Asset allocation in favor of high quality corporate credit similarly outperformed led by core Industrials such as BMW coupledwith single-A rated financials exposure. Eurozone country allocation drew mixed results, with our overweight in core markets underperforming albeitpartially offset via an overweight in Italy. Security selection acted as a performance drag, primarily in the Mexican market where the fund wasfocused on short dated bonds.FX strategy employed increased risk as the month unfolded, unhedging exposure to the Mexican Peso whilst maintaining exposure to thosecurrencies with stronger fundamental and flow support such as the Canadian Dollar and Norwegian Krona. The Fund used month end strength inSpanish yields to further reduce exposure in light of deteriorating domestic fundamentals.The Fund's corporate exposure marginally increased in June.From a cyclical interest rate perspective European yields are likely to be better supported which we exploit via markets such as the UK. The Fundis biased to currencies displaying better fundamentals as investors re-focus outlooks. Eurozone peripheral sovereign spreads will remain volatile,driven by policy progress /political events, at the margin we continue to reduce Spanish bond exposure.Performance Indicator Bid-to-bid, net dividends reinvested, SGD, from Inception to 30 June 2012. Source: AIA SingaporeAIA Brunei Growth FundPeriod Fund Benchmark # Over/(Under)Performance1 Year -19.97% -11.52% -8.44%3 Years 0.67% 10.96% -10.29%5 Years -30.67% -23.38% -7.29%Since Inception 11.37% -4.85% 16.22%# Current benchmark: MSCI All Country Far East Free ex-Japan DTR Net IndexPrice Indexed20018016014012010080604020AIA Brunei Growth Fund --- Benchmark #AIA Brunei Balanced FundPeriod Fund Benchmark # Over/(Under)Performance1 Year -10.15% -5.37% -4.78%3 Years -0.17% 7.17% -7.34%5 Years -17.26% -6.70% -10.56%Since Inception 22.11% 38.05% -15.95%Price Indexed1801601401201008060Aug-01Jan-02Dec-02May-03Oct-03Mar-04Aug-04Jan-05Jun-05Nov-05Apr-05Sep-06Feb-07Jul-07Jul-97Dec-97May-98Oct-98Mar-99Aug-99Jan-00Jul-00Dec-00May-01Oct-01Mar-02Aug-02Jan-03Jun-03Nov-03Apr-04Sep-04Feb-05Dec-07May-08Oct-08Mar-09Aug-09Jul-05Dec-05May-06Oct-06Mar-07Aug-07Jan-08Jun-08Nov-08Apr-09Sep-09Feb-10Jul-02Jul-10Dec-10May-11Oct-11Mar-12Jan-10Jun-10Nov-10Apr-11Sep-11Feb-12# Current benchmark: 60% MSCI All Country Far East Free ex-Japan DTR NetIndex & 40% Citigroup World Govt Bond Index (Unhedged)AIA Brunei Balanced Fund --- Benchmark #

AIA Brunei Funds 3AIA Brunei Conservative FundPeriod Fund Benchmark # Over/(Under)Performance1 Year -5.49% 2.73% -8.22%3 Years -2.05% 5.05% -7.10%5 Years -4.43% 11.40% -15.83%Since Inception 15.89% 46.66% -30.77%Price Indexed160150140130120110100# Current benchmark: 80% Citigroup World Govt Bond Index (Unhedged) &20% MSCI All Country Far East Free ex-Japan DTR Net Index90Aug-01Jan-02Jul-02Dec-02May-03Oct-03Mar-04Aug-04Jan-05Jun-05Nov-05Apr-05Sep-06Feb-07Jul-07Dec-07May-08Oct-08Mar-09Aug-09Jan-10Jun-10Nov-10Apr-11Sep-11Feb-12AIA Brunei Conservative Fund --- Benchmark #Top Five Holdings* As of 30 June 2012Equities Holding (%)Samsung Electronics 7.1Taiwan Semiconductor Manufacturing 4.3China Mobile 3.9Cnooc 3.7Hyundai Motor 3.6_______________________________________________________Total 22.6%Bonds Holding (%)0.4% JAPAN (GOVT OF) 5YR 20/Jun/2015 5.81.8% JAPAN (GOVT OF) 20YR #133 20/Dec/2031 3.41.7%5 US TREASURY NOTES 15/May/2022 3.00.1% JAPAN (GOVT OF) 2YR #308 15/Sep/2013 3.01.1% JAPAN (GOVT OF) 10Y #309 20/Jun/2020 2.9_______________________________________________________Total 18.10 %Country Allocation* (Equities) As of 30 June 2012Hong Kong 11.3%Taiwan 15.6%Singapore 8.3%India 7.8%Malaysia 3.3%Indonesia 2.8%Philippines 1.8%Thailand 1.4%Cash 2.6%South Korea 21.5% China 23.8%

AIA Brunei Funds 4Bond Allocation* As of 30 June 2012United Kingdom 6.0%France 6.3%Italy 8.0%Germany 4.8%Netherlands 3.8%Canada 3.8%Australia 2.0%Norway 1.9%United States 18.7%Others 12.9%Cash 2.0%Japan 29.8%*Information extracted from underlying PineBridge South East Asia Equity Fund and PineBridge Global Bond FundSource: PineBridge Investments Ireland LimitedPrior to 1 July 2003, the AIA Brunei Growth Fund, AIA Brunei Balanced Fund and AIA Brunei Conservative Fund were named AIA Brunei Unit Linked Fund,AIA Brunei Global Equity Fund and AIA Brunei Global Bond Fund respectively. AIA Brunei Global Equity Fund and AIA Brunei Global Bond Fundfed into the AIG/SA IF Global Equity Class "V” and AIG/SA IF Global Bond Fund Class "V" respectively.The AIA Brunei Funds are investment-linked policy (ILP) funds offered by AIA Singapore Private Limited (“AIA Singapore”) and are only available underAIA Investment-Linked Policies. AIA Singapore is the product provider. This fact sheet is prepared by AIA Singapore and the information presented is forinformational use only. Investments are subject to investment risks including the possible loss of the principal amount invested. Past performance,as wellas the prediction, projection or forecast on the economy, securities markets or the economic trends of the markets are not necessarily indicative of the futureor likely performance of the ILP fund. The performance of the ILP funds is not guaranteed and the value of the units in the ILP fund and the income accruingto the units, if any, may fall or rise. A product summary relating to the ILP funds is available and may be obtained from your AIA Financial Services Consultant.A potential investor should read the product summary before deciding whether to subscribe for units in the ILP funds. AIA Singapore does not warrant ormake any representations regarding the use or the results of the use of the figures generated in terms of their correctness, accuracy, reliability, or otherwise.E. & O. E.AIA Singapore Private Limited (Reg No.201106386R)1 Robinson Road, AIA Tower, Singapore 048542 Monday - Friday: 8.45am - 5.30pm AIA Customer Care Hotline: 1800 248 8000 aia.com.sg