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KTAM India Equity Fund (KT-INDIA) (Capital Accumulation Class: KT-INDIA-A)

Equity fund Feeder Fund

Fund with Country Risk

Summary Prospectus

Krungthai Asset Management Public Company Limited Anti-corruption status: Certified by CAC

Investment in a fund is not the same as cash deposits.

Information as of 28 December 2018

Other information

Fund performance

Fees

Portfolio breakdown

Points to consider

Who is this fund suitable for?

What are you investing in?

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This fund is not suitable for - Investors who require certainty of investment return or full protection of principal.

▪ Investment Assets This fund primarily invest in only one fund namely the Invesco India Equity Fund - Class A (the master fund), averaging at least 80% of NAV throughout the financial year.

KTAM India Equity Fund may consider to invest or hold derivatives with currency as the underlying for hedging purposes as permitted by SEC regulations and notifications, at the discretion of the fund manager to fit the prevailing investment climate.

- Investment Policy of the Master Fund The Invesco India Equity Fund - Class A is domiciled in Luxembourg and established as Société d’Investissement à Capital Variable (SICAV), complying with UCITS (Undertakings for Collective Investment in Transferable Securities). The master fund’s objective is to achieve long-term capital growth by investing principally in equity or similar instruments of Indian companies. The Fund shall primarily invest in equity and equity related securities issued by Indian Companies. For the present purposes, Indian Companies shall mean (i) companies having their registered office in India (ii) companies located outside India carrying out their business activities predominantly in India, or (iii) holding companies, which are predominantly invested in companies with their registered office in India. Up to 30% of the NAV of the Fund may be invested in cash and cash equivalents, Money Market Instruments, equity and equity related securities issued by companies and other entities not meeting the above requirements or debt securities (including convertible debt) of issuers worldwide and denominated in any convertible currency.

Further information about the master fund available at: www.invescoperpetual.co.uk.

▪ Investment strategy KTAM India Equity Fund aim to track the performance of the master fund (Passive Management while The Invesco India Equity Fund - Class A (master fund) aim to outperform its benchmark (Active Management)

▪ Investors who can accept the risk and volatility from investing in a foreign fund which is the fund’s core holding. These investments held by the fund may either gain or decline below the original purchase price to create a loss.

▪ Investors with a medium to long term investment horizon, settings sights on achieving better long-term gains than general fixed income investments.

• Investors who can accept the currency risk.

Who is this fund suitable for?

If the fund’s policy and risks are still unclear to you ▪ Read the full prospectus or consult the selling agent or KTAM. ▪ Do not invest without sufficiently understanding the fund’s characteristics and risks.

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Points to consider

Important reminders

• In a multi-class fund, the fund’s commitment to external parties does not differ according to class of unitholder. All of the fund’s assets are accountable to external parties equitably.

• The NAV of each class of units may be equal or different; KTAM separately calculates the NAV of each class of units.

• The fund has 4 classes of units: dividend, capital appreciation, auto-redemption, and institutional. Unitholders are permitted to switch between the various classes within this fund.

• The KTAM India Equity Fund may consider deploying currency derivatives to hedge against fx risks. This is up to the judgment of the portfolio manager given the prevailing investment climate. Therefore, some fx risk exposure may remain and could cause unitholders to incur fx loss or partial loss of principal invested. Hedging incurs costs and can lower financial returns generated by the fund due to the additional cost burden.

• The master fund does not typically use derivatives to hedge fx risk but may consider them in the future to curb risks if prevailing market conditions require such action. As such, unitholders are exposed to fx risk given that the KTAM India Equity Fund uses Baht to invest in US dollar denominated units of the master fund. The master fund subsequently uses US dollars to invest in securities which could be denominated in US dollars or other currencies. Unitholders could therefore incur fx loss or unable to fully recover the principal invested.

• The master fund may invest in derivatives for efficient portfolio management purposes. Since the fund contains higher risk exposure than general funds, it is more suitable for investors that are able to accept a higher risk-return tradeoff.

• Since the KTAM India Equity Fund invest in the Invesco India Equity Fund - Class A (the master fund) that invests in equities and similar instruments of companies in India, the fund contains country risk exposure arising from economic conditions, politics, financial markets, interest rates, tax regulations, geo-political risk, exchange controls, capital controls, regulatory risks, stagflation or inflation conditions, as well as the scope of investor protection relevant to funds.

• This fund’s investments are highly concentrated in India; investors are therefore advised to gauge the overall level of one’s own investment portfolio diversification too.

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1. Market risk

Note: *If fund is less than 5 years old, figures presented are since-inception.

2. Foreign Exchange Risk

3. Issuer concentration risk Low High

High issuer concentration risk ≤ 10% 10-20% 20-50% 50-80% > 80%

Low High

< 5% 5-10% 10-15% 15-25% > 25%

Low High

All/Predominantly Partial Discretionary None

RISK SCALE

Key Investment Risks

Standard Deviation (SD)

FX Hedging

* For additional information, visit www.ktam.co.th

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Portfolio Breakdown (% of NAV)

Remarks: Data as of 28 December 2018

Portfolio Breakdown- Invesco India Equity Fund

Remark: As of 31 December 2018

Portfolio breakdown

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Top Five Holdings (% of NAV) KT-INDIA-A Top Five Holdings (% of NAV) Unit Trust - Invesco India Equity Fund 98.88 Remark: As of 28 December 2018

Invesco India Equity Fund (Master Fund)

Top Five Holdings (% of NAV)

HDFC Bank 8.30 Housing Development Finance 7.00 Indusind Bank 6.10 Bajaj Finance 5.90 Infosys 5.40

Remark: Data as of 31 December 2018

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REMARKS * Rates shown include VAT, special business tax, and other similar taxes (if any). ** Historical fee charged can be found at www.ktam.co.th

Fees charged to KT-INDIA-A unitholder (% of transaction value)

Transaction Maximum rate Actual rate

Front-end fee (1) Not exceeding 5.00 1.50 Back-end fee (1) Not exceeding 3.00 Currently waived Switching-in fee (1) (2) Not exceeding 5.00 1.50 Switching- out fee (1) (2) Not exceeding 3.00 Currently waived Brokerage fees and costs associated with purchase, sale, or switching of units Not exceeding 0.50 Currently waived

Unit transfer fee As charged by Registrar Issuance of certificate of ownership As charged by Registrar

Remark: * Rates shown include VAT, special business tax, and other similar taxes (if any). ** Historical fee charged can be found at www.ktam.co.th (1) KTAM reserves the right to apply different front end, back end, or switching rates for different unitholder

types and shall notify at least 7 days in advance by displaying an announcement at the office of KTAM and/or selling agent (if any) and/or KTAM website.

(2) KTAM reserves the right to waive fees for switching of units within the KTAM India Equity Fund.

*Fees affect your investment returns. As such, review the fees before making an investment.*

Fees

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Entry charge: Not exceeding 5.00% Ongoing charge 2.08% ** Fees and costs of the master fund are subjected to additions or amendments. ** Data from the master fund’s fact sheet as of 31 December 2018

Rebate fee 0.75% of NAV

Fees and charges of the master fund

Fees and charges of the master fund- Invesco India Equity Fund– Class A

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Management Trustee Registrar Others Total

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Benchmark: The master fund does not have a reference benchmark, although the master fund uses the MSCI India 10-40 Index-ND as a reference index for performance comparisons. Therefore, the KTAM India Equity Fund does not have a performance benchmark but will use the aforementioned reference index MSCI India 10-40 Index-ND converted into its Baht equivalent on the date the fund performance measurement is conducted.

Maximum drawdown of the investment in the last five years : -27.55% * If fund is less than 5 years old, figures presented are since-inception.

Standard deviation of the fund performance: 15.27% p.a. * If fund is less than 5 years old, figures presented are since-inception.

Fund category for performance measurements at point of sale: India Equity * Updated information available at https://www.aimc.or.th

Past track record is not indicative of future performance *

Fund performance

Calendar year performance

Fund

Benchmark

(% o

f NAV

per

ann

um)

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Fund performance (%)

*Information as of 28 December 2018 Updated information available at www.ktam.co.th

*Data as of 28 December 2018 *Updated data available at: www.invescoperpetual.co.hk.

Past performance of master fund

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Dividend Policy No dividends

Trustee Standard Chartered Bank (Thai) Plc Registration Date 9 February 2016 Maturity Date None Purchase and Redemption

Purchases: Purchases permitted on any trading day of the fund, from start of operating hours to 14.00 hrs. KTAM shall list non-trading days in advance on a notice posted at the office of KTAM and/or selling agents (if any). KTAM reserves the right to amend the aforementioned fund’s non-trading days under circumstances where the fund is affected by payment disruptions with the master fund, or any other circumstances. KTAM shall notify unitholders in advance on a notice posted at the office of KTAM and/or selling agents (if any).

- Min initial purchase : 1,000 Bath - Min subsequent purchase: 1,000 Bath

Redemptions : Redemptions permitted on any trading day of the fund, from start of operating hours to 14.00 hrs. KTAM shall list non-trading days in advance on a notice posted at the office of KTAM and/or selling agents (if any). KTAM reserves the right to amend the aforementioned fund’s non-trading days under circumstances where the fund is affected by payment disruptions with the master fund, or any other circumstances. KTAM shall notify unitholders in advance on a notice posted at the office of KTAM and/or selling agents (if any). - Minimum redemption amount: None - Minimum units redeemed: None - Minimum outstanding balance: None - Minimum outstanding units: None - Settlement period: Within 5 business days after calculation of NAV, NAV per unit and unit price. This does not yet include foreign business holidays for business operators

Other information

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who are similar to investment management companies. Payment generally settled T+5 business days after the redemption date. Daily NAV information available at www.ktam.co.th

Portfolio Manager

Name-Surname Title / Expertise Date of Appointment Mr. Peerapong Kitjakarn Local Portfolio

Manager 09/02/2016

Mr. Khemarat Songyoo Local Portfolio Manager

28/09/2018

Portfolio Turnover Ratio (PTR)

Past 12 months turnover ratio is 0.31

Selling Agent In the future, KTAM may appoint additional selling agents or dismiss any selling agent. Potential investors may contact KTAM to obtain a list of selling agents.

Inquiries Prospectus Complaints

Krung Thai Asset Management Public Company Limited 1 Empire Tower, 32nd Fl., South Sathorn Rd., Yannawa, Sathorn, Bangkok 10120 telephone: 0-2686-6100 website: www.ktam.co.th email: callcenter@ktam.co.th

Conflict of Interests Further information regarding potential conflict of interests is available on the website: website : www.ktam.co.th

“Important Notice: This document has been translated from Thai. If there is any inconsistency or ambiguity between the English version and the Thai version, the Thai version shall prevail.”

▪ Investment in funds differ from bank deposits and is not protected by the Deposit Protection Agency. As such, there is investment risk exposure and the investor may not recover the full amount invested.

▪ The fund is registered and supervised by the Securities and Exchange Commission. ▪ A draft of the fund prospectus that is reviewed by the SEC and used to support the launch and purchase of the fund

units is not an endorsement by the SEC that the information presented is accurate, nor does it guarantee the value or financial returns of units offered for purchase. As fund manager, KTAM has carefully audited the information in the fact sheet as of 28 December 2018 and confirm that the information is accurate, truthful, and not misleading.

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1) Market Risk: Risk caused by volatility of securities / asset prices in foreign markets which could rise or fall due to economic factors, social issues, or investment climate, caused by the country’s political situation, economy, financial or capital market, currency volatility, interest rate movement, etc. These factors can impact the prices of securities invested by the master fund and subsequent cause the fund’s value to fluctuate

2) Credit Risk: The uncertainty surrounding a debt issuer’s ability to meet payment obligations on interest and principal when due. This could be caused by factors such as the company’s weakening financial condition.

Grade TRIS Fitch Moody’s S&P Remarks

Investment grade

AAA AAA(tha) Aaa AAA Highest rating denotes lowest risk of default

AA AA(tha) Aa AA Next highest rating denotes very low default risk

A A(tha) A A Low risk of default

BBB BBB(tha) Baa BBB Moderate risk of default

Non-investment grade

Below BBB Below BBB Below BBB(tha)

Below BBB High risk of default

3) Foreign Exchange Rate Risk refers to potential fluctuations in the value of the fund’s investments

when translated into Thai Baht due to changes in the exchange rate.

Description of Risks

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4) Counterparty Risk: Uncertainty surrounding a counterparty’s ability to meet fx hedging contracts made can be compromised if the counterparty encounters financial difficulties and becomes unable to honor the agreed term

5) Country Risk: Risk associated with changes in the domestic situation of countries in which the fund’s investments are domiciled, such as changes in political leadership, economic policies, politics, or any other issues, which can impair debt service.

6) Liquidity Risk: The uncertainty that trading volume for some securities held by the fund may be insufficient, making it difficult to transact.

7) Repatriation Risk and management measures: To invest abroad, the fund must comply with laws, regulations, and practices in the host country which may differ from the regulatory environment in Thailand. As a rule, the asset management company will study a country’s laws and regulations, investment laws, and risk factors associated with the investment. However, unforeseen situations or unmanageable situations may still occur due to shocks to the investment environment, such as regulatory changes or policy changes initiated by that country, triggering a rise in costs, expenses, and taxes. As such, the investment returns may not be as expected or there may be limitations on the ability to remit proceeds or convert settlement into Baht. The net effect will be negative to the fund and also affect weaken its liquidity.

8) Re-investment risk to switch master fund. If the foreign master fund becomes unsuitable, KTAM may consider switching the fund’s investments into a different foreign master fund which has a compatible investment objective.

9) Foreign Exchange Rate Risk: Changes in the currency exchange rate may impact the fund’s value. For instance, an investment made by the fund in USD when the Baht is weak can trigger a currency loss if the fund subsequently sells that investment when the Baht is strong. Proceeds translated into Baht would be less because of the currency’s movement. Similarly, an opposite scenario could trigger a currency gain. Mitigating currency risks is important; strategies may include: ▪ Fund manager’s discretion: Unitholders remain exposed to some currency risk since

hedging is dependent on the fund manager’s decision and judgment.

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Information about the master fund (Invesco India Equity Fund– Class A) Fund Invesco India Equity Fund - Class A Investment Objectives and Policy

The master fund’s objective is to achieve long-term capital growth by investing Principally in equity or similar instruments of Indian companies. The master fund invests in equities and equity-related instruments issued by Indian companies at up to at least 70% of total fund assets (net of liquid assets). Indian companies refers to: (i) Companies registered in India (ii) Companies located outside of India but with business operations primarily in India (iii) Holding companies with majority of investments comprising companies registered in India The master fund will invest the remaining 30% of NAV in cash and cash equivalents, money market instruments, equities or equity-related securities of companies or entities not defined by the above, or in fixed income instruments (including convertible securities) issued globally in various currencies.

Maturity None

Registration Date 11 December 2006 Class & Currency Class A / US dollar ISIN Code LU0267983889 Bloomberg Ticker ININEAI LX Reference Index MSCI India 10-40 Index-ND Management Company Invesco Management S.A. Investment Adviser Invesco Hong Kong Limited Custodian The Bank of New York Mellon (International) Limited Agent in the Indian Market

Deutsche Bank AG

Independent Auditors PricewaterhouseCoopers Website www.invescoperpetual.co.uk