Legg Mason Southeast Asia Special Situations Trust

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About The Fund

Investment Aim

To achieve medium to long-term capital appreciation by investing at least 70% of the Fund in securities issued by companies that are incorporated, domiciled or listed, or have a significant economic interest, in South and South-East Asia countries.

Performance Benchmark

MSCI AC Far East ex Japan, ex China. Ex Hong Kong, ex Taiwan, ex Korea (S$)

CPF Investment Scheme

Included under the CPF Investment Scheme (Ordinary Account)
CPF Investment Scheme - List A Fund

	Unit NAV
NAV:	SGD 1.797
High*:	SGD 2.406
Low*:	SGD 0.340
*Based on since inception month end prices.

Fund Size:	SGD 479 million
All data are as of 30 June 2010.

About the Investment Strategy

Primary focus on "Special Situations" companies, which can include corporate restructuring or re-engineering, management change, new product introduction or innovation, new business injections and changes in the regulatory and business environment.
The Manager's strategy when investing in large-cap stocks is to use a systematic, thematic approach in information gathering and analysis to capture periodic market mis-pricing in the large-cap stocks areas where there are sufficient market signals and data points available. The managers intend to devote more of their internal research resources to seek out and analyze mid-cap and small cap stocks where opportunities for significant securities mis-pricing are more abundant.

About the Investment Team

Congruix Investment Management specialises in Asia Pacific equities, including Japan. Their investment leaders have over two decades of individual experience investing in this region. Congruix Investment Management offers a range of strategies with varying risk profiles, including pan-regional and single country strategies across the Asia Pacific Markets.

General Fund Literature

Fact Sheet

Fact Sheet (Chinese)

Prospectus

Annual Report

Interim Report

Congruix Investment Management (a registered business of Legg Mason Asset Management Singapore Pte. Limited) was formerly known as the Legg Mason International Equities division of Legg Mason Asset Management Singapore Pte. Limited (the former name of Legg Mason Asset Management Singapore Pte. Limited), and was renamed pursuant to a rebranding exercise. Some offering documents may not yet have been updated to reflect the rebranding.

This document, prepared by Legg Mason Asset Management Singapore Pte. Limited ("Legg Mason"), is for information only and does not constitute an offer nor solicitation to buy or sell any units of the Fund. The prospectus of the Fund is available and may be obtained from Legg Mason or its authorised distributors. Investors should read the prospectus prior to any subscription. All applications for units in the Fund must be made on the application forms accompanying the prospectus. An investment in the Fund is subject to investment risks, including the possible loss of the principal amount invested. The value of units and the income accruing to the units, if any, may fall or rise and past performance is not necessarily a guide for future performance.

The CPF interest rate for the Ordinary Account (OA) is based on the 12-month fixed deposit and month-end savings rates of the major local banks. Under the CPF Act, the Board pays a minimum interest rate of 2.5% per annum when this interest formula yields a lower rate. The interest rate for the Special, Medisave and Retirement Accounts (SMRA) will be pegged to the 12-month average yield of 10-year Singapore government securities plus 1%. For the year 2010, the minimum interest rate for the SMRA is 4.0% per annum. After 31 December 2010, the 2.5% per annum minimum interest rate, as prescribed by the CPF Act, will apply to the SMRA. In addition, the CPF Board will pay an extra interest rate of 1% per annum on the first S$60,000 of a CPF member's combined balances, including up to S$20,000 in the OA. The first S$20,000 in the OA and the first S$30,000 in the Special Account may not be invested under the CPFIS. With effect from 1 July 2010, the first S$40,000in the CPF Special Account will not be allowed to be invested under the CPFIS.

All opinions and estimates in this document constitute Legg Mason's judgement as of this date and are subject to change without notice. Legg Mason, its affiliates, officers or directors, may have an interest in the acquisition or disposal of the securities mentioned herein.

Distribution of this document may be restricted in certain jurisdictions; persons into whose possession this publication comes should inform themselves of and observe such restrictions. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorized or to any person to whom it is unlawful to distribute this document. This Fund is not available to US citizens, residents or greencard holders and may not be available in all jurisdictions.