MASTER PROSPECTUS - eUnitTrust.com.my · The Securities Commission Malaysia has authorised the Fund(s) and a copy of this Master Prospectus has been registered with the Securities

Trustees:CIMB Islamic Trustee Berhad (167913-M)HSBC (Malaysia) Trustee Berhad (1281-T)Maybank Trustees Berhad (5004-P)TMF Trustees Malaysia Berhad (610812-W)

Manager:RHB Asset Management Sdn Bhd (174588-X)(Formerly known as RHB Investment Management Sdn Bhd)

Head Office 19th Floor, Plaza OSK, Jalan Ampang,50450 Kuala Lumpur, Malaysia

Tel: +603 2164 3036

Fax: +603 2164 4226

Hotline: 1-800-88-3175

www.rhbgroup.com

RHB Asset Management Sdn Bhd (174588-X)(Formerly known as RHB Investment Management Sdn Bhd)

MASTER PROSPECTUS Name of the Funds: Date of Constitution

INVESTORS ARE ADVISED TO READ AND UNDERSTAND THE CONTENTS OF THIS MASTER PROSPECTUS.IF IN DOUBT, PLEASE CONSULT A PROFESSIONAL ADVISER.

FOR INFORMATION CONCERNING CERTAIN RISK FACTORS WHICH SHOULD BE CONSIDERED BY PROSPECTIVE INVESTORS, SEE “RISK FACTORS”

COMMENCING ON PAGE 92.

Local RHB-OSK Dynamic Fund 15 September 1992Conventional: RHB-OSK Capital Fund 12 April 1995 RHB-OSK Bond Fund 10 October 1997 RHB-OSK Malaysia DIVA Fund 3 May 1999 RHB-OSK Income Fund 1 18 April 2001 RHB-OSK GoldenLife Funds 21 February 2005 RHB-OSK Cash Management Fund 1 23 August 2007 Shariah: RHB-OSK Mudharabah Fund 9 May 1996 RHB-OSK Islamic Bond Fund 25 August 2000 RHB-OSK Islamic Growth Fund 26 January 2004 RHB-OSK Islamic Cash Management Fund 30 June 2008 RHB-OSK Asia Pacific Maqasid Fund 23 February 2010

Foreign: RHB-OSK Dividend Valued Equity Fund 13 July 2005 RHB-OSK Global Fortune Fund 8 August 2006 RHB-OSK Global Themes Fund 5 January 2007 RHB-OSK Asian Total Return Fund 26 February 2007 RHB-OSK Global Multi Manager Fund 23 August 2007 RHB-OSK-GS BRIC Equity Fund 11 January 2011 RHB-OSK-GS US Equity Fund 18 May 2011

This Master Prospectus is dated 9 September 2014 and expires on 8 September 2015.

Dear investor, Thank you for considering to invest with RHB Asset Management Sdn Bhd (formerly known as RHB Investment Management Sdn Bhd). With a full spectrum of investment solutions to meet your specific needs and objectives, we offer a comprehensive range of conventional and Shariah-compliant funds, ranging from equity to fixed income and money market funds as well as a fund-of-funds and feeder funds. You may refer to the pages of Chapter 1: Key Data Section of the respective Funds for a brief overview of their investment objectives, investment strategies, investors’ profiles, principal risks of each Fund and the fees and charges payable. Please refer to the remaining chapters for a complete understanding of these matters for each Fund. In order to help you to decide on the Fund that is most compatible with your personal investment temperament and financial goals, you may contact our authorised agents, participating distributors or our head office and branches located throughout Malaysia for advice and to deal in the respective Funds. For information on these participating distributors, please call our help-desk Free-Phone number: 1-800-88-3175 at any time during our office hours: Mondays through Fridays from 9.00 a.m. – 5.00 p.m. Alternatively, investors may e-mail your enquiries to [email protected] or visit our website, www.rhbgroup.com. Yours sincerely, RHB Asset Management Sdn Bhd (formerly known as RHB Investment Management Sdn Bhd) HO SENG YEE Chief Executive Officer

Responsibility Statement This Master Prospectus has been reviewed and approved by the directors of RHB Asset Management Sdn Bhd (formerly known as RHB Investment Management Sdn Bhd) and they collectively and individually accept full responsibility for the accuracy of the information. Having made all reasonable enquiries, they confirm to the best of their knowledge and belief, that there are no false or misleading statements, or omission of other facts which would make any statement in this Master Prospectus false or misleading. Statements of Disclaimer The Securities Commission Malaysia has authorised the Fund(s) and a copy of this Master Prospectus has been registered with the Securities Commission Malaysia. The authorisation of the Fund(s), and registration of this Master Prospectus, should not be taken to indicate that the Securities Commission Malaysia recommends the said Fund(s) or assumes responsibility for the correctness of any statement made, opinion expressed or report contained in this Master Prospectus. The Securities Commission Malaysia is not liable for any non-disclosure on the part of RHB Asset Management Sdn Bhd (formerly known as RHB Investment Management Sdn Bhd) who is responsible for the said Fund(s) and takes no responsibility for the contents in this Master Prospectus. The Securities Commission Malaysia makes no representation on the accuracy or completeness of this Master Prospectus, and expressly disclaims any liability whatsoever arising from, or in reliance upon, the whole or any part of its contents. INVESTORS SHOULD RELY ON THEIR OWN EVALUATION TO ASSESS THE MERITS AND RISKS OF THE INVESTMENT. IF INVESTORS ARE UNABLE TO MAKE THEIR OWN EVALUATION, THEY ARE ADVISED TO CONSULT PROFESSIONAL ADVISERS. Additional Statement No Units will be issued or sold based on this Master Prospectus later than one (1) year after the date of this Master Prospectus. Investors should note that they may seek recourse under the Capital Markets and Services Act 2007 for breaches of securities laws and regulations including any statement in this Master Prospectus that is false, misleading, or from which there is a material omission; or for any misleading or deceptive act in relation to this Master Prospectus or the conduct of any other person in relation to the Fund(s). The RHB-OSK Mudharabah Fund, RHB-OSK Islamic Bond Fund, RHB-OSK Islamic Growth Fund, RHB-OSK Islamic Cash Management Fund and RHB-OSK Asia Pacific Maqasid Fund have been certified as Shariah-compliant by the Shariah Adviser appointed for the said Fund(s). This master prospectus for the Fund(s) dated 9 September 2014 which expires on 8 September 2015, supersedes the master prospectus for the Fund(s) dated 1 December 2013 which expires on 30 November 2014.

i

TABLE OF CONTENTS

PAGE

DEFINITIONS ....................................................................................................................................... 1

CORPORATE DIRECTORY ............................................................................................................... 5

1. KEY DATA SECTION ................................................................................................................ 9

1.1 KEY DATA SECTION OF RHB-OSK DYNAMIC FUND ..................................................... 9

1.1.1 GENERAL INFORMATION ................................................................................................. 9

1.1.2 FEES AND CHARGES ...................................................................................................... 10

1.1.3 TRANSACTION DETAILS ................................................................................................ 11

1.1.4 OTHER INFORMATION ................................................................................................... 12

1.2 KEY DATA SECTION OF RHB-OSK CAPITAL FUND ..................................................... 13

1.2.1 GENERAL INFORMATION ............................................................................................... 13

1.2.2 FEES AND CHARGES ...................................................................................................... 14



1.3 KEY DATA SECTION OF RHB-OSK BOND FUND ........................................................... 17


1.3.2 FEES AND CHARGES ...................................................................................................... 18



1.4 KEY DATA SECTION OF RHB-OSK MALAYSIA DIVA FUND ...................................... 21


1.4.2 FEES AND CHARGES ...................................................................................................... 22



1.5 KEY DATA SECTION OF RHB-OSK INCOME FUND 1 ................................................... 25


1.5.2 FEES AND CHARGES ...................................................................................................... 26



1.6 KEY DATA SECTION OF RHB-OSK GOLDENLIFE FUNDS – RHB-OSK

GOLDENLIFE TODAY ............................................................................................................ 29


1.6.2 FEES AND CHARGES ...................................................................................................... 30


i

ii



GOLDENLIFE 2020 .................................................................................................................. 33


1.7.2 FEES AND CHARGES ...................................................................................................... 34




GOLDENLIFE 2030 .................................................................................................................. 37


1.8.2 FEES AND CHARGES ...................................................................................................... 38



1.9 KEY DATA SECTION OF CASH MANAGEMENT FUND 1 ............................................. 41


1.9.2 FEES AND CHARGES ...................................................................................................... 42



1.10 KEY DATA SECTION OF RHB-OSK MUDHARABAH FUND ......................................... 44


1.10.2 FEES AND CHARGES ...................................................................................................... 45



1.11 KEY DATA SECTION OF RHB-OSK ISLAMIC BOND FUND ......................................... 48


1.11.2 FEES AND CHARGES ...................................................................................................... 49



1.12 KEY DATA SECTION OF RHB-OSK ISLAMIC GROWTH FUND.................................. 52


1.12.2 FEES AND CHARGES ...................................................................................................... 53



1.13 KEY DATA SECTION OF RHB-OSK ISLAMIC CASH MANAGEMENT FUND .......... 56


1.13.2 FEES AND CHARGES ...................................................................................................... 57

ii

iii



1.14 KEY DATA SECTION OF RHB-OSK ASIA PACIFIC MAQASID FUND ....................... 60


1.14.2 FEES AND CHARGES ...................................................................................................... 61



1.15 KEY DATA SECTION OF RHB-OSK DIVIDEND VALUED EQUITY FUND ................ 64


1.15.2 FEES AND CHARGES ...................................................................................................... 65



1.16 KEY DATA SECTION OF RHB-OSK GLOBAL FORTUNE FUND ................................. 68


1.16.2 FEES AND CHARGES ...................................................................................................... 69



1.17 KEY DATA SECTION OF RHB-OSK GLOBAL THEMES FUND .................................... 72


1.17.2 FEES AND CHARGES ...................................................................................................... 73



1.18 KEY DATA SECTION OF RHB-OSK ASIAN TOTAL RETURN FUND .......................... 76


1.18.2 FEES AND CHARGES ...................................................................................................... 77



1.19 KEY DATA SECTION OF RHB-OSK GLOBAL MULTI MANAGER FUND ................. 80


1.19.2 FEES AND CHARGES ...................................................................................................... 81



1.20 KEY DATA SECTION OF RHB-OSK-GS BRIC EQUITY FUND ..................................... 84


1.20.2 FEES AND CHARGES ...................................................................................................... 85


iii

iv


1.21 KEY DATA SECTION OF RHB-OSK-GS US EQUITY FUND .......................................... 88


1.21.2 FEES AND CHARGES ...................................................................................................... 89



2. RISK FACTORS ........................................................................................................................ 92

2.1 GENERAL RISKS OF INVESTING IN UNIT TRUST FUNDS .......................................... 92

2.2 SPECIFIC RISKS WHEN INVESTING IN THE FUNDS .................................................... 93

3. INFORMATION ON THE FUNDS ....................................................................................... 147

3.1 INFORMATION ON RHB-OSK DYNAMIC FUND ........................................................... 147

3.1.1 FUND OBJECTIVE ........................................................................................................ 147

3.1.2 INVESTMENT STRATEGY AND POLICY ........................................................................ 147

3.1.3 PERMITTED INVESTMENT AND RESTRICTIONS ............................................................ 147

3.2 INFORMATION ON RHB-OSK CAPITAL FUND ............................................................. 150

3.2.1 FUND OBJECTIVE ........................................................................................................ 150



3.3 INFORMATION ON RHB-OSK BOND FUND ................................................................... 153

3.3.1 FUND OBJECTIVE ........................................................................................................ 153



3.4 INFORMATION ON RHB-OSK MALAYSIA DIVA FUND .............................................. 156

3.4.1 FUND OBJECTIVE ........................................................................................................ 156



3.5 INFORMATION ON RHB-OSK INCOME FUND 1 ........................................................... 159

3.5.1 FUND OBJECTIVE ........................................................................................................ 159



3.6 INFORMATION ON RHB-OSK GOLDENLIFE FUNDS – RHB-OSK GOLDENLIFE

TODAY ..................................................................................................................................... 162

3.6.1 FUND OBJECTIVE ........................................................................................................ 162



iv

v


2020 ............................................................................................................................................ 165

3.7.1 FUND OBJECTIVE ........................................................................................................ 165


3.7.3 PERMITTED INVESTMENTS AND RESTRICTIONS .......................................................... 166

3.7.4 AUTOMATIC TERMINATION AND MERGER OF RHB-OSK GOLDENLIFE FUNDS – RHB-

OSK GOLDENLIFE 2020.............................................................................................. 167


FUND 2030 ................................................................................................................................ 169

3.8.1 FUND OBJECTIVE ........................................................................................................ 169



3.8.4 AUTOMATIC TERMINATION AND MERGER OF RHB-OSK GOLDENLIFE FUNDS – RHB-

OSK GOLDENLIFE 2030.............................................................................................. 171

3.9 INFORMATION ON RHB-OSK CASH MANAGEMENT FUND 1 ................................. 173

3.9.1 FUND OBJECTIVE ........................................................................................................ 173



3.10 INFORMATION ON RHB-OSK MUDHARABAH FUND ................................................. 175

3.10.1 FUND OBJECTIVE ........................................................................................................ 175

3.10.2 SHARIAH ADVISER ...................................................................................................... 175

3.10.3 EXTERNAL INVESTMENT MANAGER ........................................................................... 175



3.11 INFORMATION ON RHB-OSK ISLAMIC BOND FUND ................................................. 178

3.11.1 FUND OBJECTIVE ........................................................................................................ 178

3.11.2 SHARIAH ADVISER ...................................................................................................... 178



3.12 INFORMATION ON RHB-OSK ISLAMIC GROWTH FUND ......................................... 181

3.12.1 FUND OBJECTIVE ........................................................................................................ 181

3.12.2 SHARIAH ADVISER ...................................................................................................... 181




3.13 INFORMATION ON RHB-OSK ISLAMIC CASH MANAGEMENT FUND .................. 184

v

vi

3.13.1 FUND OBJECTIVE ........................................................................................................ 184

3.13.2 SHARIAH ADVISER ...................................................................................................... 184




3.14 INFORMATION ON RHB-OSK ASIA PACIFIC MAQASID FUND ............................... 187

3.14.1 FUND OBJECTIVE ........................................................................................................ 187

3.14.2 SHARIAH ADVISER ...................................................................................................... 187




3.15 INFORMATION ON RHB-OSK DIVIDEND VALUED EQUITY FUND ........................ 191

3.15.1 FUND OBJECTIVE ........................................................................................................ 191



3.16 INFORMATION ON RHB-OSK GLOBAL FORTUNE FUND ......................................... 194

3.16.1 FUND OBJECTIVE ........................................................................................................ 194



3.16.4 INFORMATION ON ALLIANZ GLOBAL HIGH PAYOUT FUND ........................................ 195

3.17 INFORMATION ON RHB-OSK GLOBAL THEMES FUND ........................................... 215

3.17.1 FUND OBJECTIVE ........................................................................................................ 215



3.17.4 INFORMATION ON DWS GLOBAL THEMES EQUITY FUND .......................................... 216

3.18 INFORMATION ON RHB-OSK ASIAN TOTAL RETURN FUND ................................. 235

3.18.1 FUND OBJECTIVE ........................................................................................................ 235



3.18.4 INFORMATION ON UNITED ASIAN BOND FUND .......................................................... 236

3.19 INFORMATION ON RHB-OSK GLOBAL MULTI MANAGER FUND ......................... 258

3.19.1 FUND OBJECTIVE ........................................................................................................ 258



3.20 INFORMATION ON RHB-OSK-GS BRIC EQUITY FUND ............................................. 262

3.20.1 FUND OBJECTIVE ........................................................................................................ 262

vi

vii



3.20.4 INFORMATION ON GOLDMAN SACHS BRICS PORTFOLIO ........................................... 263

3.21 INFORMATION ON RHB-OSK-GS US EQUITY FUND .................................................. 275

3.21.1 FUND OBJECTIVE ........................................................................................................ 275



3.21.4 INFORMATION ON GOLDMAN SACHS US EQUITY PORTFOLIO .................................... 276

3.22 GENERAL INFORMATION ................................................................................................. 288

3.22.1 INVESTMENT PHILOSOPHY .......................................................................................... 288

3.22.2 INVESTMENT APPROACH ............................................................................................. 289

3.22.3 RISK MANAGEMENT STRATEGIES ............................................................................... 290

3.22.4 POLICY ON GEARING AND ASSETS OF THE FUND ....................................................... 291

3.22.5 SHARIAH METHODOLOGY AND SHARIAH INVESTMENT GUIDELINES ........................ 291

3.22.6 VALUATION OF ASSETS............................................................................................... 296

4. PERFORMANCE OF THE FUNDS ...................................................................................... 299

4.1 PERFORMANCE OF RHB-OSK DYNAMIC FUND .......................................................... 299

4.1.1 AVERAGE TOTAL RETURNS OF THE FUND .................................................................. 299

4.1.2 ANNUAL TOTAL RETURNS OF THE FUND .................................................................... 300

4.1.3 DISTRIBUTION RECORD .............................................................................................. 300

4.1.4 PORTFOLIO TURNOVER RATIO (PTR) ......................................................................... 301

4.1.5 ASSET ALLOCATION ................................................................................................... 301

4.2 PERFORMANCE OF RHB-OSK CAPITAL FUND ........................................................... 302






4.3 PERFORMANCE OF RHB-OSK BOND FUND .................................................................. 305






4.4 PERFORMANCE OF RHB-OSK MALAYSIA DIVA FUND ............................................ 308


vii

viii





4.5 PERFORMANCE OF RHB-OSK INCOME FUND 1 ......................................................... 311






4.6 PERFORMANCE OF RHB-OSK GOLDENLIFE FUNDS - RHB-OSK GOLDENLIFE

TODAY ..................................................................................................................................... 314






4.7 PERFORMANCE OF RHB-OSK GOLDENLIFE FUNDS – RHB-OSK GOLDENLIFE

2020 ............................................................................................................................................ 317






4.8 PERFORMANCE OF RHB-OSK GOLDENLIFE FUNDS – RHB-OSK GOLDENLIFE

2030 ............................................................................................................................................ 320






4.9 PERFORMANCE OF RHB-OSK CASH MANAGEMENT FUND 1 ................................ 323





viii

ix


4.10 PERFORMANCE OF RHB-OSK MUDHARABAH FUND ............................................... 326






4.11 PERFORMANCE OF RHB-OSK ISLAMIC BOND FUND ............................................... 329






4.12 PERFORMANCE OF RHB-OSK ISLAMIC GROWTH FUND ........................................ 332






4.13 PERFORMANCE OF RHB-OSK ISLAMIC CASH MANAGEMENT FUND ................. 335






4.14 PERFORMANCE OF RHB-OSK ASIA PACIFIC MAQASID FUND .............................. 338






4.15 PERFORMANCE OF RHB-OSK DIVIDEND VALUED EQUITY FUND ....................... 342





ix

x


4.16 PERFORMANCE OF RHB-OSK GLOBAL FORTUNE FUND ........................................ 346






4.17 PERFORMANCE OF RHB-OSK GLOBAL THEMES FUND .......................................... 349






4.18 PERFORMANCE OF RHB-OSK ASIAN TOTAL RETURN FUND ................................ 352






4.19 PERFORMANCE OF RHB-OSK GLOBAL MULTI MANAGER FUND ........................ 355






4.20 PERFORMANCE OF RHB-OSK-GS BRIC EQUITY FUND ............................................ 358






4.21 PERFORMANCE OF RHB-OSK-GS US EQUITY FUND ................................................. 361





x

xi


5. HISTORICAL FINANCIAL HIGHLIGHTS OF THE FUNDS ......................................... 364

5.1 RHB-OSK DYNAMIC FUND................................................................................................. 364

5.1.1 EXTRACT OF STATEMENT OF COMPREHENSIVE INCOME ............................................ 364

5.1.2 EXTRACT OF STATEMENT OF FINANCIAL POSITION ................................................... 364

5.2 RHB-OSK CAPITAL FUND .................................................................................................. 365



5.3 RHB-OSK BOND FUND ......................................................................................................... 366



5.4 RHB-OSK MALAYSIA DIVA FUND ................................................................................... 367



5.5 RHB-OSK INCOME FUND 1 ................................................................................................ 368



5.6 RHB-OSK GOLDENLIFE FUNDS – RHB-OSK GOLDENLIFE TODAY ...................... 369



5.7 RHB-OSK GOLDENLIFE FUNDS – RHB-OSK GOLDENLIFE 2020............................. 370



5.8 RHB-OSK GOLDENLIFE FUNDS – RHB-OSK GOLDENLIFE 2030............................. 371



5.9 RHB-OSK CASH MANAGEMENT FUND 1 ....................................................................... 372



5.10 RHB-OSK MUDHARABAH FUND ...................................................................................... 373



5.11 RHB-OSK ISLAMIC BOND FUND ...................................................................................... 374



5.12 RHB-OSK ISLAMIC GROWTH FUND ............................................................................... 375

xi

xii



5.13 RHB-OSK ISLAMIC CASH MANAGEMENT FUND........................................................ 376



5.14 RHB-OSK ASIA PACIFIC MAQASID FUND ..................................................................... 377



5.15 RHB-OSK DIVIDEND VALUED EQUITY FUND.............................................................. 378



5.16 RHB-OSK GLOBAL FORTUNE FUND ............................................................................... 379



5.17 RHB-OSK GLOBAL THEMES FUND ................................................................................. 380



5.18 RHB-OSK ASIAN TOTAL RETURN FUND ....................................................................... 381



5.19 RHB-OSK GLOBAL MULTI MANAGER FUND ............................................................... 382



5.20 RHB-OSK-GS BRIC EQUITY FUND ................................................................................... 383



5.21 RHB-OSK-GS US EQUITY FUND ........................................................................................ 384



6. FEES, CHARGES AND EXPENSES ..................................................................................... 385

6.1 CHARGES ..................................................................................................................... 385

6.2 FEES AND EXPENSES ................................................................................................... 390

6.3 TOTAL ANNUAL EXPENSES INCURRED BY THE FUND IN THE PRECEDING FINANCIAL

YEAR ........................................................................................................................... 395

6.4 MANAGEMENT EXPENSE RATIO OF THE FUND FOR THE PAST THREE (3) FINANCIAL

YEARS (WHERE APPLICABLE) .................................................................................... 398

xii

xiii

6.5 POLICY ON REBATES AND SOFT COMMISSIONS .......................................................... 401

7. TRANSACTION INFORMATION ........................................................................................ 402

7.1 PRICING .................................................................................................................................. 402

7.1.1 COMPUTATION OF SELLING PRICE .............................................................................. 402

7.1.2 COMPUTATION OF REPURCHASE PRICE ...................................................................... 403

7.1.3 PRICING ERROR POLICY .............................................................................................. 404

7.1.4 SELLING AND REPURCHASE PRICE OF TRANSACTION ................................................ 405

7.2 TRANSACTION DETAILS .................................................................................................... 406

7.3 MODE OF DISTRIBUTION .................................................................................................. 411

7.4 ADDITIONAL INFORMATION ........................................................................................... 412

7.4.1 ANTI-MONEY LAUNDERING POLICY .......................................................................... 412

7.4.2 MATERIAL CONTRACTS .............................................................................................. 412

8. SALIENT TERMS OF THE DEED ....................................................................................... 413

8.1 RIGHTS OF UNIT HOLDERS .......................................................................................... 413

8.2 LIABILITIES AND LIMITATION OF UNIT HOLDERS ...................................................... 413

8.3 MAXIMUM FEES AND CHARGES PERMITTED BY THE DEED ........................................ 414

8.4 EXPENSES PERMITTED BY THE DEED .......................................................................... 420

8.5 RETIREMENT, REMOVAL OR REPLACEMENT OF THE MANAGER ................................ 421

8.6 POWER OF THE MANAGER TO REMOVE OR REPLACE THE TRUSTEE .......................... 421

8.7 RETIREMENT, REMOVAL OR REPLACEMENT OF THE TRUSTEE ................................... 422

8.8 POWER OF THE TRUSTEE TO REMOVE OR REPLACE THE MANAGER .......................... 422

8.9 TERMINATION OF THE FUNDS ..................................................................................... 422

8.10 MEETINGS OF UNIT HOLDERS ..................................................................................... 422

9. THE MANAGEMENT AND ADMINISTRATION OF THE FUNDS ............................... 424

9.1 THE MANAGER ............................................................................................................ 424

9.2 BOARD OF DIRECTORS ................................................................................................ 424

9.3 KEY PERSONNEL ......................................................................................................... 426

9.4 FUNDS UNDER THE MANAGEMENT OF THE MANAGER ............................................... 427

9.5 SUMMARY OF FINANCIAL POSITION OF THE MANAGER ............................................. 429

9.6 FUNCTIONS OF THE MANAGER .................................................................................... 429

9.7 THE INVESTMENT COMMITTEE ................................................................................... 430

9.8 THE INVESTMENT TEAM ............................................................................................. 431

9.9 MANAGER’S DISCLOSURE OF MATERIAL LITIGATION ............................................... 431

9.10 THE SHARIAH ADVISER .............................................................................................. 431

9.11 THE EXTERNAL INVESTMENT MANAGER ................................................................... 435

9.12 MANAGER’S DELEGATES ............................................................................................ 436

xiii

xiv

10. THE TRUSTEES OF THE FUNDS ....................................................................................... 438

10.1 MAYBANK TRUSTEES BERHAD ....................................................................................... 438

10.1.1 FINANCIAL POSITION .................................................................................................. 438

10.1.2 EXPERIENCE IN TRUSTEE BUSINESS ........................................................................... 438

10.1.3 BOARD OF DIRECTORS ................................................................................................ 438

10.1.4 KEY PERSONNEL ......................................................................................................... 439

10.1.5 DUTIES AND RESPONSIBILITIES OF THE TRUSTEE ....................................................... 439

10.1.6 DELEGATE OF THE TRUSTEE ....................................................................................... 439

10.1.7 TRUSTEE’S STATEMENT OF RESPONSIBILITY ............................................................. 440

10.1.8 MATERIAL LITIGATION AND ARBITRATION ................................................................ 440

10.2 HSBC (MALAYSIA) TRUSTEE BERHAD .......................................................................... 442




10.2.4 PROFILE OF KEY PERSONNEL ...................................................................................... 442



10.2.7 ANTI-MONEY LAUNDERING AND ANTI-TERRORISM FINANCING PROVISIONS .......... 443

10.2.8 STATEMENT OF DISCLAIMER ...................................................................................... 443

10.2.9 TRUSTEE’S DISCLOSURE OF MATERIAL LITIGATION .................................................. 443

10.2.10 CONSENT TO DISCLOSURE .......................................................................................... 443

10.2.11 TRUSTEE’S DELEGATE ................................................................................................ 444

10.3 CIMB ISLAMIC TRUSTEE BERHAD ................................................................................. 445




10.3.4 KEY MANAGEMENT STAFF ......................................................................................... 446


10.3.6 STATEMENT OF RESPONSIBILITY BY THE TRUSTEE .................................................... 447

10.3.7 MATERIAL LITIGATION AND ARBITRATION ................................................................ 447

10.3.8 TRUSTEE’S DELEGATE ................................................................................................ 447

10.4 TMF TRUSTEES MALAYSIA BERHAD ............................................................................ 448



10.4.3 BOARD OF DIRECTORS OF THE TRUSTEE .................................................................... 449

10.4.4 PROFILE OF KEY PERSONNEL ...................................................................................... 449

xiv

xv



10.4.7 TRUSTEE’S DISCLOSURE OF MATERIAL LITIGATION AND ARBITRATION .................. 450

10.4.8 TRUSTEE’S DELEGATES .............................................................................................. 450

11. RELATED-PARTY TRANSACTION AND CONFLICT OF INTEREST ........................ 451

12. TAX ADVISER’S LETTER ON THE TAXATION OF THE FUNDS AND UNIT

HOLDERS ................................................................................................................................ 454

13. EXPERTS’ REPORT .............................................................................................................. 459

14. CONSENT ................................................................................................................................ 460

15. APPROVALS AND CONDITIONS ....................................................................................... 461

16. DOCUMENTS AVAILABLE FOR INSPECTION .............................................................. 464

DIRECTORY OF OUTLETS FOR PURCHASE AND SALE OF UNITS .................................. 465

MASTER APPLICATION FORM

xv

1

DEFINITIONS In this Master Prospectus, the following abbreviations or words shall have the following meanings unless otherwise stated: BRIC Brazil, Russia, India and China. Bursa Malaysia The stock exchange managed and operated by the Bursa

Malaysia Securities Berhad. Business Day A day on which either the Bursa Malaysia is open for trading

or banks in Kuala Lumpur are open for business. The Manager may declare certain business days to be a non-business day although Bursa Malaysia and/or the banks in Kuala Lumpur are open for business, if some foreign markets in which the Funds are invested in are closed for business.

Deed DF, CF, BF, MDF, INCF, DVEF, GTF, ATRF, GFF,

CMF, GMMF, BREF and USEF Master deed (conventional funds) dated 12 June 2008 (as amended via its supplemental master deed (conventional funds) dated 25 August 2008, second supplemental master deed (conventional funds) dated 12 December 2008, third supplemental master deed (conventional funds) dated 19 June 2009, fifth supplemental master deed (conventional funds) dated 26 April 2010, sixth supplemental master deed (conventional funds) dated 28 June 2010, ninth supplemental master deed (conventional funds) dated 7 March 2012, tenth supplemental master deed (conventional funds) dated 13 April 2012, fifteenth supplemental master deed (conventional funds) dated 30 April 2013 and sixteenth supplemental master deed (conventional funds) dated 24 September 2013) and any other supplemental deeds as may be registered with the Securities Commission Malaysia from time to time.

MF, IBF, IGF, ICMF and APMF Master deed (Shariah funds) dated 12 June 2008 (as amended via its first supplemental master deed (Shariah funds) dated 19 June 2009, second supplemental master deed (Shariah funds) dated 18 November 2009, third supplemental master deed (Shariah funds) dated 23 November 2009, fourth supplemental master deed (Shariah funds) dated 13 April 2012, fifth supplemental master deed (Shariah funds) dated 28 May 2012, seventh supplemental master deed (Shariah funds) dated 30 April 2013 and eighth supplemental master deed (Shariah funds) dated 24 September 2013) and any other supplemental deeds as may be registered with the Securities Commission Malaysia from time to time.

GLF

Master deed (umbrella funds) dated 12 June 2008 (as amended via its first supplemental master deed (umbrella funds) dated 25 August 2008, second supplemental master deed (umbrella funds) dated 19 June 2009, third supplemental master deed (umbrella funds) dated 30 April 2013 and fourth supplemental master deed (umbrella funds) dated 24

1

2

September 2013) and any other supplemental deeds as may be registered with the Securities Commission Malaysia from time to time.

deposits Unless stated otherwise, deposits refer to any deposit with a financial institution which are not embedded or linked to financial derivative instruments.

Employees Provident Fund Board Malaysian Employees Provident Fund Board established

under section 3 of the Employees Provident Fund Act 1991. EPF or KWSP Malaysian Employees Provident Fund set up under section 24

of the Employees Provident Fund Act 1991 or Kumpulan Wang Simpanan Pekerja.

EPF Members’ Investment Scheme The investment schemes approved by the Minister charged

with responsibility for matters relating to the Employees Provident Fund Board, subject to such terms and conditions as he thinks fit, which the Employees Provident Fund Board may, subject to any regulations and rules made under the Employees Provident Fund Act 1991, authorize an application for investment, made by a member of the EPF, partly any amount standing to the credit of such member of the EPF.

ERISA The Employee Retirement Income Security Act of 1974, as

amended from time to time. External Investment Manager RHB Islamic International Asset Management Berhad

(formerly known as OSK-UOB Islamic Fund Management Berhad), as the investment manager with the responsibility of managing the investments of MF, IGF, ICMF and APMF as delegated to it by the Manager/Management Company.

FBM KLCI FTSE Bursa Malaysia KLCI Index. Fund (respectively) or RHB-OSK Dynamic Fund (“DF”); or Funds (collectively) RHB-OSK Capital Fund (“CF”); or RHB-OSK Bond Fund (“BF”); or RHB-OSK Malaysia DIVA Fund (“MDF”); or RHB-OSK Income Fund 1 (“INCF”); or RHB-OSK GoldenLife Funds (“GLF”); or RHB-OSK GoldenLife Today (“GLF Today”); or RHB-OSK GoldenLife 2020 (“GLF 2020”); or RHB-OSK GoldenLife 2030 (“GLF 2030”); or RHB-OSK Cash Management Fund 1 (“CMF”); or RHB-OSK Mudharabah Fund (“MF”); or RHB-OSK Islamic Bond Fund (“IBF”); or RHB-OSK Islamic Growth Fund (“IGF”); or RHB-OSK Islamic Cash Management Fund (“ICMF”); or RHB-OSK Asia Pacific Maqasid Fund (“APMF”); or RHB-OSK Dividend Valued Equity Fund (“DVEF”); or RHB-OSK Global Themes Fund (“GTF”); or RHB-OSK Global Fortune Fund (“GFF”); or RHB-OSK Asian Total Return Fund (“ATRF”); or RHB-OSK Global Multi Manager Fund (“GMMF”); or RHB-OSK-GS BRIC Equity Fund (“BREF”); or RHB-OSK-GS US Equity Fund (“USEF”).

2

3

Latest Practicable Date 31 July 2014.

Law of 17 December 2010 Luxembourg Law of 17 December 2010 on undertakings for collective investment, as amended.

Long term 5 years and above.

Luxembourg Supervisory Authority Luxembourg Commission de Surveillance du Secteur Financier.

Master Prospectus This master prospectus for the Funds dated 9 September 2014 which expires on 8 September 2014, supersedes the master prospectus for the Funds dated 1 December 2013 which expires on 30 November 2014.

Manager/Management Company RHB Asset Management Sdn Bhd (174588-X) (formerly known as RHB Investment Management Sdn Bhd).

Medium term 3 to 5 years.

MSCI Morgan Stanley Capital International Inc., a provider of equity (international and United States of America), fixed income and hedge fund indices.

MSCI BRIC MSCI BRIC (Net, Unhedged, USD), is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of the following four emerging market country indices: Brazil, Russia, India and China.

MSCI World (Net) MSCI index of world or global stocks maintained by MSCI and a common benchmark for world or global stock funds.

Net Asset Value (NAV) The net asset value of the respective Fund is determined by deducting the value of all of a Fund’s liabilities from the value of all of that Fund’s assets, at the valuation point.

Net Asset Value per Unit The NAV of the Fund at a particular valuation point divided by the number of units in circulation at the same valuation point.

Performance Benchmark The benchmark against which the performance of a Fund can be measured.

Portfolio Turnover Ratio The ratio of the average sum of acquisitions and disposals of a Fund for the year to the average value of that Fund for the year calculated on a daily basis.

The portfolio turnover ratio of the Fund is determined as follows:

(Total acquisitions of the Fund for the year + Total disposals

of the Fund for the year) / 2 Average value of the Fund for the year calculated on a daily

basis

3

4

RAM RAM Rating Services Berhad. Repurchase Charge The fee payable by an investor for his/her redemption of

Units. It is represented as a percentage of the NAV per Unit. RHB-OSK GoldenLife Funds The umbrella fund comprising of the following sub-funds:

RHB-OSK GoldenLife Today; RHB-OSK GoldenLife 2020; and RHB-OSK GoldenLife 2030.

RM or Ringgit Malaysia The lawful currency of Malaysia. Sales Charge The fee payable by an investor for his/her purchase of Units. It

is represented as a percentage of the NAV per Unit. SACSC Shariah Advisory Council of the Securities Commission. Securities Commission Securities Commission Malaysia. Securities Laws The Capital Markets & Services Act 2007 and unless

expressly stated otherwise, include any regulations, orders, notifications or other subsidiary legislation made under those laws.

SGD Singapore dollar, the lawful currency of Singapore. Shariah Adviser RHB Islamic Bank Berhad (appointed for MF, IBF, IGF,

ICMF and APMF). Short term Less than 3 years. Trustee CIMB Islamic Trustee Berhad in respect of MDF, MF, IBF,

IGF and GMMF.

HSBC (Malaysia) Trustee Berhad in respect of BF, INCF, GLF Today, GLF 2020, GLF 2030, CMF, ICMF, DVEF, GTF, ATRF and GFF.

Maybank Trustees Berhad in respect of DF and CF.

TMF Trustees Malaysia Berhad in respect of APMF, BREF and USEF.

Unit Means a unit of the Fund and includes fractions of a unit of

the Fund. Unit Holder In relation to a Fund, the person registered as the holder of a

Unit (including persons who are jointly registered) in that Fund.

USD United States dollar, the lawful currency of United States of

America.

4

5

CORPORATE DIRECTORY MANAGER RHB Asset Management Sdn Bhd (formerly known as RHB Investment Management Sdn Bhd) REGISTERED & PRINCIPAL OFFICE 19th Floor, Plaza OSK Jalan Ampang 50450 Kuala Lumpur Hotline: 1-800-88-3175 Tel: 03-2164 3036 Fax: 03-2164 4226 E-mail: [email protected] Website: www.rhbgroup.com

BRANCHES Kuala Lumpur Office B-9-6, Megan Avenue 1 No. 189, Jalan Tun Razak 50400 Kuala Lumpur Tel: 03-2171 2755 Fax: 03-2770 0022 Penang Office 64-D, Level 5, Lebuh Bishop 10200 Penang Tel: 04-264 5639 Fax: 04-264 5640 Butterworth Office 2677, Jalan Chain Ferry Taman Inderawasih 13600 Prai, Penang Tel: 04-390 0022 Fax: 04-390 0023 Ipoh Office 4th Floor, 21-25, Jalan Seenivasagam, Greentown 30450 Ipoh, Perak Tel: 05-242 4311 Fax: 05-242 4312 Melaka Office 581B, Taman Melaka Raya 75000 Melaka Tel: 06-284 4211 Fax: 06-292 2212 Batu Pahat Office 53, 53-A and 53-B Jalan Sultanah 83000 Batu Pahat, Johor Tel: 07-438 0271 Fax: 07-438 0277 Johor Bahru Office 2nd Floor, 21 & 23, Jalan Molek 1/30, Taman Molek 81100 Johor Bahru, Johor Tel: 07-358 3587 Fax: 07-358 3581

Kuantan Office B 32-34, 2nd Floor, Lorong Tun Ismail 8 Sri Dagangan II 25000 Kuantan, Pahang Tel: 09-517 3611 Fax: 09-517 3612 Kota Bharu Office No 3953-H, 1st Floor Jalan Kebun Sultan 15350 Kota Bharu, Kelantan Tel: 09-741 8539 Fax: 09-741 8540 Kota Kinabalu Office Lot No. C-02-04, 2nd Floor Block C, Warisan Square Jalan Tun Fuad Stephens 88000 Kota Kinabalu, Sabah Tel: 088-528 686/692 Fax: 088-528 685 Miri Office Lot 1268, First Floor Centre Point Commercial Centre Jalan Melayu 98000 Miri, Sarawak Tel: 085-422 788 Fax: 085-415 243 Kuching Office Lot 172, Section 49, K.T.L.D Jalan Chan Chin Ann 93100 Kuching, Sarawak Tel: 082-245 611 Fax: 082-242 712 Lot 7418, First Floor Jalan Simpang Tiga 99300 Kuching Sarawak Tel: 082-231 326 Fax: 082-230 326

5

6

MANAGER’S DELEGATES RHB Capital Berhad Level 10, Tower One, RHB Centre Jalan Tun Razak 50400 Kuala Lumpur Tel: 03-9285 2233 Fax: 03-9281 9314

RHB Bank Berhad Level 10, Tower One, RHB Centre Jalan Tun Razak 50400 Kuala Lumpur Tel: 03-9287 8888 Fax: 03-9287 6507

In respect of MF, IGF, ICMF and APMF: EXTERNAL INVESTMENT MANAGER RHB Islamic International Asset Management Berhad (formerly known as OSK-UOB Islamic Fund Management Berhad) 19th Floor, Plaza OSK, Jalan Ampang 50450 Kuala Lumpur Tel: 03-2178 9555 Fax: 03-2161 3299 In respect of MDF, MF, IBF, IGF and GMMF: TRUSTEE CIMB Islamic Trustee Berhad

Registered Office Level 13, Menara CIMB Jalan Stesen Sentral 2, Kuala Lumpur Sentral 50470 Kuala Lumpur Tel: 03-2261 8888 Fax: 03-2261 0099 Website: www.cimb.com

Business Office Level 21, Menara CIMB Jalan Stesen Sentral 2, Kuala Lumpur Sentral 50470 Kuala Lumpur Tel: 03-2261 8888 Fax: 03-2261 9889

TRUSTEE’S DELEGATE CIMB Group Nominees (Tempatan) Sdn Bhd (as custodian) Registered Office Level 13, Menara CIMB Jalan Stesen Sentral 2, Kuala Lumpur Sentral 50470 Kuala Lumpur Tel: 03-2261 8888 Fax: 03-2261 8889 Website: www.cimb.com

Business Office Level 21, Menara CIMB Jalan Stesen Sentral 2, Kuala Lumpur Sentral 50470 Kuala Lumpur Tel: 03-2261 8888 Fax: 03-2261 9892

In respect of BF, INCF, GLF Today, GLF 2020, GLF 2030, CMF, ICMF, DVEF, GTF, ATRF and GFF: TRUSTEE HSBC (Malaysia) Trustee Berhad 13th Floor, Bangunan HSBC, South Tower, No 2 Leboh Ampang 50100 Kuala Lumpur Tel: 03-2075 7800 Fax: 03-2179 6511

TRUSTEE’S DELEGATE (local) The Hongkong And Shanghai Banking Corporation Limited (as custodian) and assets held through): HSBC Nominees (Tempatan) Sdn Bhd No 2, Leboh Ampang 50100 Kuala Lumpur Tel: 03-2075 3000 Fax: 03-2179 6488

TRUSTEE’s DELEGATE (foreign) HSBC Institutional Trust Services (Asia) Limited 6th Floor, Tower One HSBC Centre, No 1, Sham Mong Road Kowloon, Hong Kong Tel: 852-2822 1111 Fax: 852-2810 5259

6

7

In respect of DF and CF: TRUSTEE Maybank Trustees Berhad 8th Floor, Menara Maybank 100, Jalan Tun Perak 50050 Kuala Lumpur Tel: 03-2078 8363 Fax: 03-2070 9387 Website: http://www.maybank2u.com.my

TRUSTEE’S DELEGATE (local and foreign) Malayan Banking Berhad (3813-K) (Maybank Custody Services) Registered Office 14th Floor, Menara Maybank 100, Jalan Tun Perak 50050 Kuala Lumpur Tel: 03-2074 8158 Fax: 03-2070 0966 Business Office 6th Floor, Menara Maybank 100, Jalan Tun Perak 50050 Kuala Lumpur Tel: 03-2074 8158 Fax: 03-2070 0966

Standard Chartered Bank Malaysia Berhad (as custodian) assets held through: Cartaban Nominees (Tempatan) Sdn Bhd Level 16, Menara Standard Chartered 30, Jalan Sultan Ismail 50250 Kuala Lumpur Tel: 03-2117 7800 Fax: 03-2117 7619

In respect of APMF, BREF and USEF: TRUSTEE TMF Trustees Malaysia Bhd 10th Floor, Menara Hap Seng No. 1 & 3, Jalan P. Ramlee 50250 Kuala Lumpur Tel: 03-2382 4288 Fax: 03-2026 1451

TRUSTEE’S DELEGATE (local & foreign custodian) Standard Chartered Bank Malaysia Bhd (as Custodian) Level 16, Menara Standard Chartered 30, Jalan Sultan Ismail 50250 Kuala Lumpur Tel: 03-2117 7777 Fax: 03-2711 6060

BOARD OF DIRECTORS 1. Mr Patrick Chin Yoke Chung

(Independent Non-Executive Chairman) 2. Tuan Haji Khairuddin Ahmad

(Senior Independent Non-Executive Director) 3. Dato’ Othman Jusoh

(Independent Non-Executive Director) 4. Encik Abdul Aziz Peru Mohamed

(Independent Non-Executive Director) 5. Ms Ong Yin Suen

(Non-Independent Managing Director)

MEMBERS OF INVESTMENT COMMITTEE 1. Tuan Haji Khairuddin Ahmad

(Independent Chairman of Committee) 2. Dato’ Othman Jusoh

(Independent Member) 3. Mr Lim Chee Sing

(Non-Independent Member) 4. Ms Ong Yin Suen

(Non-Independent Member)

CHIEF EXECUTIVE OFFICER Mr Ho Seng Yee

7

8

SHARIAH ADVISER RHB Islamic Bank Berhad Registered Office Level 10, Tower One RHB Centre Jalan Tun Razak 50400 Kuala Lumpur Tel : 603-92878888 Fax: 603-92806507 Business Office Level 11, Menara Yayasan Tun Razak 200, Jalan Bukit Bintang 55100 Kuala Lumpur Tel : 603-2171 5000 Fax: 603-2171 5001

PRINCIPAL BANKER RHB Bank Berhad Level 10, Tower One, RHB Centre Jalan Tun Razak 50400 Kuala Lumpur Tel: 03-9287 8888 Fax: 03-9287 6507

TAX ADVISER KPMG Tax Services Sdn Bhd Level 10, KPMG Tower 8, First Avenue, Bandar Utama 47800 Petaling Jaya Selangor Tel: 03-7721 3388

AUDITORS OF THE MANAGER & AUDITORS OF THE FUNDS PricewaterhouseCoopers Level 10, 1 Sentral Jalan Travers Kuala Lumpur Sentral 50706 Kuala Lumpur Tel: 03-2173 1188 Fax: 03-2173 1288

FEDERATION OF INVESTMENT MANAGERS MALAYSIA (FIMM) 19-06-1, 6th Floor, Wisma Tune No. 19, Lorong Dungun Damansara Heights 50490 Kuala Lumpur Tel: 03-2093 2600 E-mail: [email protected] Website: www.fimm.com.my

COMPANY SECRETARY Azman Shah Md Yaman (LS No. 0006901) Level 10, Tower One, RHB Centre Jalan Tun Razak 50400 Kuala Lumpur

SOLICITORS Messrs Naqiz & Partners No. 42A, Lorong Dungun Damansara Heights 50490 Kuala Lumnpur Tel: 03-2081 7888 Fax: 03-2081 7886

INSTITUTIONAL UNIT TRUST ADVISERS RHB Bank Berhad Level 10, Tower One RHB Centre Jalan Tun Razak 50400 Kuala Lumpur

EMPLOYEES PROVIDENT FUND (EPF) or KUMPULAN WANG SIMPANAN PEKERJA (KWSP) Bangunan KWSP Jalan Raja Laut 50350 Kuala Lumpur Tel: 03-2694 6566/7566/8566/9566 Fax: 03-2694 8433 Website: www.kwsp.gov.my

8

CHAPTER 1: KEY DATA SECTION DF

9

1. KEY DATA SECTION Investors are advised that the following section is only a summary of the Funds’ salient information and investors should read and understand the whole Master Prospectus before making any investment decisions. 1.1 KEY DATA SECTION OF RHB-OSK DYNAMIC FUND Pages 1.1.1 General Information Name of Management Company RHB Asset Management Sdn Bhd (formerly known as

RHB Investment Management Sdn Bhd). 424

Name of Trustee Maybank Trustees Berhad. 438 Name of Fund RHB-OSK Dynamic Fund. - Fund Category Equity fund. - Fund Type Capital growth and income fund. - Fund Objective

To provide investors with regular income and capital gain at an acceptable level of risk by investing primarily in Malaysian public listed companies with steady and good growth potential.

147

Principal Investment Strategy The Fund invests primarily in Malaysian public listed

companies with steady income and good growth potential. In analyzing companies, the Manager looks for businesses that demonstrate leadership in their respective sector with strong growth potential coupled with consistent dividend policy. Asset allocation: Up to 95% of Net Asset Value will be invested in

equities. Minimum of 5% of Net Asset Value will be invested

in fixed income securities and/or liquid assets.

147

Benchmark FBM KLCI. 147 Principal Risks Stock market risk.

Liquidity risk. Individual stock risk. Issuer risk.

93

9

CHAPTER 1: KEY DATA SECTION DF

10

Pages Investor Profile This Fund is suitable for investors who:

(i) want a professionally managed portfolio of shares and fixed income securities;

(ii) have a medium to long term investment horizon of 3 to 5 years or more;

(iii) want to achieve regular income and capital gain at an acceptable level of risk; and

(iv) want to invest in shares but do not have the time to manage their own portfolio.

-

Distribution Mode R

Documents

MASTER PROSPECTUS - eUnitTrust.com.my · The Securities Commission Malaysia has authorised the Fund(s) and a copy of this Master Prospectus has been registered with the Securities