7/27/2019 2nd QTR 2012 BALANCED FUND Performance Report

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Product Description and Customer Suitability

The RBank Balanced Fundis a peso-denominated unit investment trust

fund (UITF) that is invested in both fixed-income securities and equities

and is an investment alternative for clients looking for better returns than

traditional bank deposits over a medium to long-term investment horizon.

Its investment portfolio consists of deposits, government bonds, prime

corporate bonds and listed equities. Minimum initial placement and

maintaining balance is Php 50,000.00 while minimum additional

placements are accepted at Php 10,000.00. Minimum holding period is 90

calendar days. In case of withdrawal prior to 90 days, early redemption

fee of 0.50% of redemption amount or Php 500 (whichever higher) will be

charged.

As a UITF, the funds assets are subject to daily mark-to-market valuation

and as such, clients returns are not guaranteed. Clients should be willing

to take the attendant risks inherent in medium to long-term tradable fixed-

income investments and listed equities. The Funds performance is

benchmarked against 50% PSE index and 50% average 91 day Tbill rate.

Total assets as of end March stood at over Php 17 Million.

Fund Performance / Historical Yields

121.75122.00122.25122.50122.75123.00123.25123.50123.75

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9...

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7...

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PORTFOLIO MIX:

Deposits

4%

Netequities

13%

Otherassets

2%

Govt

Bonds

33%

BSP-SDA

48%

Top Bond Holdings as of 2nd Qtr 2012

% of fund Maturity

BSP-SDA 48% < 30 days

FXTN 3% 1/27/2014

RTB 5-10 29% 3/3/2016

SSA 4%

Meralco shares 3%

MWC shares 4%

SMPH shares 1%

URC shares 4%

EDC shares 1%

Fund Managers Report

2nd Quarter 2012 Market Wrap

The PSE index ended on a positive note at 5,256 for end June,

registering a 20% year-to-date return for the stock market.

Investors returned to the equities market as local macroeconomic

fundamentals remained positive. The government announced the

launch of additional PPP rollouts and the country earned ratings

and outlook upgrades from S& P and Moodys. Market

corrections remained throughout the quarter, with news from the

continuing Euro financial crisis and little progress on the US front,

however, the Phil. markets remained resilient. For the bond

market, yields remained low and more corporate issuers took

advantage to issue new bonds with the substantial liquidity.

Disclosure of Fund expenses for the 2nd Quarter, 2012 per

BSP regulation:

Trustee Fees 79,047.87

RG Outsourcing Fees 22,437.17

Deutsche custody fees 1,603.44

Note: From Apr-June 2012 only ; annual trust fee is 1.5% per annumbased on net assets.

UITF Participation/ Redemption Conditions:

1. Admissions/ redemptions accepted on or before the cutofftrading of 11:30AM to be considered as transactions for theday; otherwise, the same shall be considered as next daytransactions.

2. Admissions/ redemptions shall be based on the prevailingmarket value of underlying investments of the UITF at date oftransaction, in accordance with existing BSP rules and

regulations on marking-to-market valuation of investmentinstruments.

3. Redemption proceeds shall be paid out of the UITF one (1)day after transaction date.

4. Regular or early redemption will require the signing of theNotice of Redemption provided in the Certificate ofParticipation, which should be duly surrendered to themaintaining branch at time of withdrawal.

5. Only full redemption per Certificate of Participation shall beallowed.

The UITF is NOT a deposit and not insured by PDIC. Due to the nature of the investments, yield and potential yields cannot be

guaranteed. Any income or loss arising from market fluctuations and price volatility of the securities held by the UITF, even if invested in

government securities, is for the account of the Investor. As such, units of participation of the investor in the UITF, when redeemed, may

be worth more or be worth less than his/her initial investment/contributions. Historical performance, when presented, is purely for

reference purposes and is not a guarantee of future results. The Trustee is not liable for losses, unless upon willful default, bad faith or

gross negligence.

The Balanced Fund posted a year-on-year net ROI of 4.23% and an

absolute year-to-date net ROI of 3.16% with NAVPU of

P123.113236 as of June 30, 2012. It under performed its benchmarkof 10.27%.

AbsoluteYield net oftax & fees

NAVPU(Php) Date

Year-on-Year ROI 4.23 % 123.113236 06-30-2012Year-to-date ROI * 3.16 % 119.337842 12-31-2011 1Yield since inception 23.11 % 100.000000 03-28-2008

*absolute ROI means the incremental % change in NAVPU based onterm indicated.

RBANK BALANCED FUND (UITF)Fund Performance Report for the 2nd Quarter 2012As of June 30 2012