Daiwa SB Investments (Singapore) Ltd. ( formerly Daiwa International Capital Management (Singapore) Limited), the Fund's investment adviser, was established in 1988 to provide a direct investment access not only to the Japanese investors but also worldwide investors in the high growth Pacific Basin markets, and at the same time, to work as an intermediary for Asian investors investing in Japan, North America, Europe and other countries. Daiwa SB Investments Ltd. (formerly Daiwa International Capital Management Co., Ltd.), the parent company, is one of the oldest money management companies in Japan, managing net assets of US$52.1 billion worldwide as of March 31, 2008.