The Trust is a Singapore umbrella unit trust constituted under Singapore law and established by way of a deed of trust dated 24 September 2018 (the “Trust Deed”), which will consist of a number of Sub-Funds. The Trust currently has 1 Sub-Fund established under it. The parties to the Trust Deed are Phillip Capital Management (S) Ltd, as the manager (the “Manager”) and HSBC Institutional Trust Services (Singapore) Limited, as the trustee (the “Trustee”). The investment objective of the Fund is to replicate as closely as possible, before fees and expenses, the performance of the Morningstar® Singapore Yield Focus Index (the "Index"). The Index is compiled and calculated by Morningstar Research Pte. Ltd. and aims to track the performance of Singapore stocks listed on the SGX-ST using a broad-based quality income strategy with the following proprietary factors: (a) quality; (b) financial health; and (c) dividend yield. SGX investor classification: Investors who invest in this product expect low to moderate likelihood of loss of principal investment amount, with generally smaller potential returns. Investors who invest in this product have a basic understanding of financial instruments with standardized terms and no unusual or complicated features.