The Securities Commission has approved the issue, offer or invitation in respect of the unit trust funds the subject of this Master Prospectus, and that the approval shall not be taken to indicate that the Securities Commission recommends the investment.

The Securities Commission shall not be liable for any non-disclosure on the part of the management company and takes no responsibility for the contents of this Master Prospectus, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from, or in reliance upon the whole or any part of the contents of this Master Prospectus.

INVESTORS SHOULD RELY ON THEIR OWN EVALUATION TO ASSESS THE MERITS AND RISK OF THE INVESTMENT. IN CONSIDERING THE INVESTMENT, INVESTORS WHO ARE IN DOUBT AS TO THE ACTION TO BE TAKEN SHOULD CONSULT THEIR PROFESSIONAL ADVISERS IMMEDIATELY.

A copy of this Master Prospectus has been registered by, and lodged with, the Securities Commission.