PRUlink global property securities fund

Investment Objective

November 2010
All data as at 29 October 2010 unless otherwise stated

The PRUlink global property securities fund feeds into the LaSalle Property Securities SICAV – FIS Global Property Securities Sub-fund I, which is domiciled in Luxembourg. The investment objective of the Fund is to achieve long-term growth through capital appreciation of the underlying equity portfolio. It will achieve this objective by principally investing worldwide across regions, countries and sectors in shares of companies active in the real estate business (property companies). Fund Details Launch date Initial Investment Charge Initial Investment for Single Premium Subsequent Investment for Single Premium Continuing Investment Charge Fund Manager Underlying Fund Portfolio Manager Performance Period Offer-Bid Bid-Bid Benchmark 1 months -2.9% 2.2% 2.9% 3 months 0.5% 5.8% 6.3% 6 months -3.7% 1.4% 4.1% 1 year 11.1% 16.9% 20.1% 3 years* -17.7% -16.2% -11.7% Since Inception* -18.5% -17.3% -13.0% 26 March 2007 5% ^ Min S$5,000 Min S$2,000 1.5% p.a. Prudential Asset Management (Singapore) Ltd LaSalle Investment Management Securities BV Underlying Fund Size Subscription Method Funds Under Management Withdrawal CPFIS Risk Classification of Investment-linked Insurance Products (ILP) Financial Year End Regular Savings Plan Benchmark UBS Warburg Global Real Estate Investors Index LaSalle Property Securities SICAV – FIS Global Property Securities Sub-fund IEUR 50.5M Cash, CPFIS-OA & SRS $86.8 million Min S$1,000 Narrowly Focused; Higher Risk 31st December Min S$100/month

*Annualised Source: S&P Micropal; S$; Dividends and distributions reinvested; Offer-bid includes 5% Initial Sales Charge. Top 10 Equity Holdings Simon Property Westfield Group AvalonBay Communities Public Storage Vornado Realty Trust Unibail-Rodamco
60 40 20
May-07 Dec-07 Aug-08 Apr-09 Dec-09 Aug-10

Performance Chart PRUlink global property securities fund UBS Warburg Global Real Estate Investors Index
100 Price Indexed 80

6.6% 5.1% 4.0% 3.9% 3.8% 3.5% 3.0% 3.0% 2.7% 2.3%

Boston Properties Ventas Inc Equity Residential Hongkong Land Holdings

Inception date: 7 May 2007 Source: S&P Micropal; S$; Dividends and distributions reinvested; Bid-to-bid

^ Please refer to the relevant product summary for details of charges incurred on your plan as charges may vary from product to product and may be lower than 5%.

prudential. securities markets or the economic trends of the markets targeted by the fund are not necessarily indicative of the future or likely performance of the fund. Every public real estate market except Australia and Singapore gained in value. Both public and private real estate investors are looking to expand their portfolios again. Company Registration No. Another large offering was by U. which is up 4. No. 24% Residential.Sector Allocation Country Allocation Diversified. The manager of the PRUlink Fund is Prudential Asset Management (Singapore) Limited (Co. The past performance of the PRUlink Fund is not necessarily indicative of its future performance. industrial REIT ProLogis. Investors appear to becoming more confident that a real estate recovery is beginning to build and is not likely to be derailed by a double-dip global recession. Third quarter operating results are beginning to come in. The UBS Global Investors Index of real estate stocks was up 3. Important Information The PRUlink Fund is an investment-linked policy fund issued by Prudential Assurance Company Singapore (Pte) Limited (Co. Stockland (SGP AU) and Capitamall Trust (CT SP). they are expected to look for external growth opportunities through accretive acquisitions. In total. The top detractors from value were overweight positions Dexus Property Group (DXS AU). Reg. We believe both of these relationships are attractive to investors in both properties and real estate equity securities. adding to shareholder value. Capital continues to be readily available in markets throughout the world. 0% Figures rounded to nearest full percentage point Market Overview North America. 6% Office. 0% October was another month of good performance for both Global REITs and their broad market indexes. with a significant increase in transactions completed or underway. This will increase what is already a high current return compared with other current-income alternatives. The primary driver of underperformance was stock selection in the United States. The spread between property capitalization rates and long-term government bond rates remains close to 400 bps. Investments are subject to investment risks including the possible loss of the principal amount invested.9% (all returns stated in local currencies). 21% Japan. #30-01 Prudential Tower. 199002477Z 30 Cecil Street. real estate stocks are up 18. They are seeing increased investor interest in current yields that are not available from traditional fixed-income sources. There were additional equity issues in most countries and regions with another nine public real estate companies raising almost another USD 2. Year-to-date. #30-01 Prudential Tower. REITs are benefitting from two important trends today. of course. A product summary relating to the PRUlink Fund is available and may be obtained from your Prudential Adviser. [199407631H]). with Hong Kong and the UK up 6% or more. 32% Others.com. 55% Europe. and anticipate continued steady increases in subsequent years. if any. Since the companies are well capitalized. 22% Hotel. Prudential Assurance Company Singapore (Pte) Limited. [199002477Z]).4%. their dividend payouts will increase. most results appear to be close to target.9%. which raised USD 1. The top contributors to performance on a security level basis were underweight positions in HCP Inc (HCP US). We expect the companies in our investment universe will produce strong earnings growth in 2011. with a few negative and some positive surprises.S. Singapore 049712 is the product provider. In addition.8 billion. more than USD 6. may fall or rise. projection or forecast on the economy. The largest equity raise this month by far was the Global Logistics Property IPO in Singapore. There are regional differences. The most recent global GDP estimates have improved slightly. The fund returns are calculated on the assumption that all dividends and distributions are reinvested. No. Reg.8% while the MSCI World Equity Index of broad-market stocks gained 2. 12% Retail. but the momentum for recovery seems to be there. favorable capital market conditions are helping REITs and other real estate investors build healthier balance sheets that will let them take advantage of the investment opportunities that are now arising. A potential investor should read the product summary before deciding whether to subscribe for units in the PRUlink Fund. 6% Australasia. 4% Industrial. Corporate Office Properties (OFC US) and Capitaland LTD (CAPL SP). Public real estate dividend yields are about 130 bps higher than long term government bond yields. Prudential Assurance Company Singapore (Pte) Limited. 7% Others. The value of units in the PRUlink Fund and the income accruing to the units. The prediction. As REIT earnings begin to grow.6 billion of new equity was raised in October. 11% Asia ex Japan. 30 Cecil Street. While it is too early to be definitive. Singapore 049712 Tel 1800-333 0333 Fax (65) 6734-6953 www. taking into account all charges which would have been payable upon such reinvestment.sg Part of Prudential plc (United Kingdom) .33 billion. well ahead of the global broad-market index.

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