Reference is made to Krungsri Global Core Allocation Fund (KFCORE) (“the Fund”), a fund with the type and special characteristics of a “Fund of Funds” with an objective to invest in the investment units of foreign mutual funds and/or exchange traded funds (ETFs) aiming to invest in any or several of the assets established or issued globally, which has been under the management of Krungsri Asset Management Company Limited (“the Management Company”) since its inception.

Due to current greater market volatility and complexity, The Management Company determined to change from investing in the exiting fund to BGF ESG Multi-Asset Fund, which is also managed by BLACKROCK.  ESG Multi-Asset Fund has the investment policy and strategy similar to that of the current investment of KFCORE and it has added a variety of investment tools to enhance favorable opportunities for investment returns amid highly volatile markets.  In addition, it has placed a priority on the ESG Policy and integrated such policy into the investment process.  BGF ESG Multi-Asset Fund has produced positive performance over the years and tends to perform well continuously.  While the risk profile of the Fund remains unchanged, the Management Company deems that such change will provide the utmost benefits to unitholders.  By virtue of the essential statement specified in the mutual fund project under the heading of “Details of the Investment Policy and the Special Characteristics of the Fund” that the Management Company reserves the right to change the type and special characteristics of the Fund in the future to a “Feeder Fund” which focuses on investing primarily in the investment units of a single foreign mutual fund, the Management Company has proceeded to amend the mutual fund project according to such disclaimer statement for the best interests of the unitholders and an approval has been granted on a general basis by the Office of the Securities and Exchange Commission (“the SEC Office”).  The amendments are summarized as follows:
 

Subject	Old	Change to
Outsource Fund Manager	Name: BLACKROCK (SINGAPORE) LIMITED	-None-
Details of the Investment Policy and the Special Characteristics of the Fund	- Fund of Funds	- Feeder Fund - Name of Master Fund: BGF ESG Multi-Asset Fund, Class I2 Hedged USD, managed by BlackRock (Luxembourg) S.A.
Investment Policy	The Fund shall invest in the investment units of foreign mutual funds and/or ETFs which have the investment policy to invest in any or several of the following assets, namely, equity instruments, bank deposits, debt instruments, hybrid instruments, commodities, alternative assets including foreign property funds and/or REITs, and/or infrastructure funds, that are established or issued in countries worldwide. In this regard, the Fund shall invest on average no less than 80% of the Fund’s NAV in an accounting year in the investment units of at least 2 foreign funds.	The Fund shall invest on average no less than 80% of the its NAV in an accounting year in the investment units of a single foreign mutual fund named BGF ESG Multi-Asset Fund, Class I2 Hedged USD.  The Master Fund follows an asset allocation policy that seeks to maximize total return by investing globally in the full spectrum of permitted investments including equities, fixed income transferable securities (which may include some high yield fixed income transferable securities), units of undertakings for collective investment, cash, deposits and money market instruments. (For further details please refer to the latest version of the Prospectus of Krungsri Global Core Allocation Fund which has been updated upon the effectiveness of the amendments.)
Management Style	Active management	The fund aims to track investment return of the Master Fund, the Master Fund aims to generate higher return than the benchmark (active management)
Benchmark	1. Bloomberg Barclays GLOBAL AGGREGATE Total RETURN VALUE Unhedged USD: 70.00 % 2. MSCI ACWI Net Total Return USD: 30.00 %	None, which is consistent with the Master Fund that does not have a benchmark either.

Besides, to conform to the change of fund type as mentioned above, we would like to notify the changes in the Minimum initial subscription, cut-off time for Redemption/Switching-out of Investment Units and the payment period of redemption, as per the following details:
 

Subject	Old	Change to
Minimum initial subscription	50,000 Baht	500 Baht
Cut off time for Redemption / Switching-out of Investment Units	By 15.30 hrs.	By 14.30 hrs.
The payment period of redemption	5 working days after the execution day excluding relevant Master Fund's holidays (T+5)	4 working days after the execution day excluding relevant Master Fund's holidays (T+4)

Such amendments are made in consistence with the management of the Fund which do not have any impact on the risk profile of the Fund.

The amendments to the mutual fund project as mentioned above shall be effective from 1 December 2022 onwards.

Should you require any further information, please contact your account manager or our Client Service at 02-657-5757 press 7 for English and press 2 or via email at krungsriasset.clientservice@krungsri.com.

Please be informed accordingly.