RHB China

High Yield Fund

Potential Income Distribution of 7.5% p.a.*
Yield-to-Maturity across fixed income asset classes. Potentially higher income payout from China High Yield*
10.0 9.3
8.3
7.5
5
5.0
3.3
3 2.3
2.5 2
0.8
0.0
US MY Government US Asian Corporate China RMB US Asian China
Treasuries Bonds Corporate (USD) (Dim Sum) High Yield High Yield (USD) High Yield (USD)

Government Investment Grade High Yield

Source: Bloomberg, ICE BofA Merrill Lynch Bond Indices - Redemption Yields used for all bond indices except the EM indices. Government bond indices: 10y US Treasuries, 10y German Bunds, 10y
UK Gilts, 10y Japan JGBs. IG indices: US Corp Master C0A0, Euro Corp ER00, Sterling Corp Collateral UC00, Asia Dollar IG Corp ACIG. HY indices: US HY Master II H0A0, Global HY European
Issuers Constrained H639, GBP High Yield HL00, Asian High Yield ACCY 20% Lvl4 Cap 3% Constrained Q490, China High Yield ACYC Index. EM indices: JPM EMBI Global, JPM CEMBI Composite,
JPM GBI EM GD. As at 31 October 2020.
*Source: RHBAM, January 2021. Please note that the potential income distribution is not guaranteed. The Fund Manager may in the future review the distribution policy depending on prevailing
market conditions. Past performance is not indicative of future performance. Investment involves risks and investor should conduct their own assessment before investing.

Potentially Higher Growth Country Potentially Lower Default Rate

First in first out with V-shaped recovery from Quarter (Q) 2 onwards China High Yield Bond Market Average Annual Default Rate
Economic activity in China has fully recovered to pre-pandemic level and continue
growing
Index Index
115 115 18.0
Real GDP level
110 (Q4 2019 = 100) 110
13.5
105 105
United States (US) High Yield: 6.6%
100 100 China Offshore: 4.9%
9.0
95 The only major economy to post positive 95
growth in 2020 despite Global pandemic
90 90
4.5
85 China 85

80 80 '-
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2005 2011 2016 2021
2019 2020 2021 US HY China HY (Offshore)
Dashed lines based on GS forecasts
Source: Goldman Sachs (GS) Global Investment Research. As at 31 October 2020. Past Source: Bloomberg, Moody’s, S&P, Goldman Sachs Global Investment Research. As at 31
performance is not indicative of future performance. GDP: Gross Domestic Product October 2020. Past performance is not indicative of future performance.

Fund Structure What Are The Target Fund Investing In?

Domestic oriented sector allocations with less impact by the US-China trade war
- It will survive by its 1.4billion population demand
FEEDER FUND TARGET FUND
RHB China High Yield Fidelity Funds -
(USD Class, RM-Hedged Class, China High Yield
• Property • Technology
AUD-Hedged Class, and Fund (USD)
GBP-Hedged Class) • Consumers • Government Related

Fund Manager Target Fund’s Investment Manager • Financials • Utility

RHB Asset Management Sdn Bhd FIL Fund Management Limited
• Basic Industry • Capital Goods
• Energy
The Fund is suitable only for Qualified Investors, as defined by the Securities Commission
of Malaysia Source: Fidelity International. As of October 2020.

RHB Asset Management Sdn Bhd 198801007231 (174588-X)

About RHB China High Yield Fund
3 KEY BENEFITS

2 UNCONSTRAINED,
HIGH CONVICTION APPROACH

• Non-benchmark approach – allows dynamically asset allocate across issuers and sectors based
on market condition
• High conviction

3 FIDELITY’S EXPERTISE IN
ASIA FIXED INCOME

1 STRONG
TRACK RECORD
• Fidelity's long track record, deep understanding in
high yield market - 18 years of experience in
managing global, US, European, and Asian high yield
• Lower volatility and drawdown • Early mover in Asian
against broader market* High Yield since 2007
• On the ground China
fixed income resources

Source: RHBAM, January 2021.

*Broader market comparison is against 3 other indices which are MSCI AC World NR index (Global Equity), MSCI Europe NR index (European Equity) and MSCI AC Asia ex Japan NR index (Asian
Equity). The fund does not have a benchmark and comparison against other indices are shown for illustrative purposes only.

Key Data
The Fund RHB China High Yield Fund
USD Class RM-Hedged Class AUD-Hedged Class GBP-Hedged Class
Launch Date 4 January 2021
Trustee TMF Trustees Malaysia Berhad
Fund Category Feeder Fund
Base Currency USD
The Fund is benchmark unconstrained as the Target Fund is actively managed by the Management Company without reference to any
Benchmark
specific benchmark
Sales Charge 1 Up to 5.00% of investment amount
Redemption Charge 1 None
Up to 1.50% per annum of the NAV of the respective class calculated on a daily basis before deducting the Manager’s fee and Trustee’s fee
Annual Management Fee 1
for that particular day
Up to 0.04% per annum of the NAV of the Fund before deducting the Manager’s fee and Trustee’s fee for that particular day (includes local
Annual Trustee Fee 1
custodian fees but excludes foreign custodian fees and charges)
Switching Fee Not applicable as switching is not allowed
Incidental. Subject to the availability of income, the Fund may distribute on a monthly basis or any other period as determined by the
Distribution Policy Manager
Minimum Initial Investment USD 1,000.00 RM 1,000.00 AUD 1,000.00 GBP 1,000.00
Minimum Additional Investment USD 1,000.00 RM 1,000.00 AUD 1,000.00 GBP 1,000.00
Specific Risks of the Fund
Management Risk, Liquidity Risk, Currency Risk, Country Risk, and Interest Rate Risk

Specific Risks of the Target Fund

Specific Risks
Bond and other Debt Instruments Risk, Country Concentration Risk, Below Investment Grade/Unrated Securities and High Yielding Debt
Instruments Risk, Emerging Markets Risk, China Related Risk, Fixed Income Related Risk, Risk of investing in Loans, Risk associated with
Collateralised and/or Securitised Debt Instruments, Derivatives/ Counterparty Related Risks, Short Position Risk, Risks of Active Currency
Positions, Specific Derivative Instruments Risk, and Income-producing Securities Risk
1 All fees and charges payable to the Manager and the Trustee are subject to any applicable taxes and/or duties and at such rate as may be imposed by the government from time to time.
Note: Any bank charges imposed by the relevant financial institutions will be borne by the Unit Holders.
Please refer to the Fund Information Memorandum and PHS for more information. Source: RHBAM, January 2021
Source: RHBAM, January 2021. This document is for general information only. The information is based on certain assumptions, information and conditions available as at the date of this
document and may be subject to change at any time without notice. A Product Highlights Sheet (“PHS”) highlighting the key features and risks of the RHB China High Yield Fund is available and
investors have the right to request for a PHS. Investors are advised to obtain, read and understand the PHS and the contents of the Information Memorandum dated 4 January 2021 and its
supplementary(ies) (if any) (“the Information Memorandum”) before investing. The Information Memorandum has been registered with the Securities Commission Malaysia (“SC”) who takes no
responsibility for its contents. The SC’s approval and authorization of the registration of the Information Memorandum should not be taken to indicate that the SC has recommends the Fund.
Amongst others, investors should consider the fees and charges involved. Investors should also note that the price of units and distributions payable, if any, may go down as well as up. Any issue
of units to which the Prospectus relates will only be made on receipt of a form of application referred to in the Information Memorandum. A copy of the PHS and the Information Memorandum
can be obtained from any of our offices. The Manager wishes to highlight the specific risks of investing in the Fund are Management Risk, Liquidity Risk, Currency Risk, Country Risk, and Interest
Rate Risk. The specific Risks of the Target Fund are Bond and other Debt Instruments Risk, Country Concentration Risk, Below Investment Grade/Unrated Securities and High Yielding Debt
Instruments Risk, Emerging Markets Risk, China Related Risk, Fixed Income Related Risk, Risk of investing in Loans, Risk associated with Collateralised and/or Securitised Debt Instruments,
Derivatives/ Counterparty Related Risks, Short Position Risk, Risks of Active Currency Positions, Specific Derivative Instruments Risk, and Income-producing Securities Risk. The specific risks
related to the Underlying Funds are Equity Risk, Interest Rate Risk, and Credit/Default Risk. These risks and other general risks are elaborated in the Information Memorandum. This document
has not been reviewed by the SC.

RHB Asset Management Sdn Bhd 198801007231 (174588-X)