Name of the fund: Fortune SGAM China- Overseas Growth Equity Fund

Type of the fund: Contractual Open-ended

Profit Distribution:
If in accordance with the distribution pre-requisites, the fund profit shall be distributed at most six times a year, and the dividend payment should not be less than 10% of that payable. Investors may have the option to ask for cash dividend or the dividend reinvestment in the Fund, and the implied payment is cash dividend.

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China QDII Funds Reports Sep&Oct 2007 & QDII Basic Information

Contents:
QDII Basic Information

• What is QDII (Qualified Domestic Institutional Investor)?
• QDII History
• QDII can investment varieties and tools
• QDII products and what was the difference between the domestic funds?
• The risks of QDII products

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From: Lipper

• The emerging equity markets still recorded good performance in October, but the increase in the A-Shares market continued to shrink.
• The Equity, Mixed-Asset Flexible, Mixed-Asset Aggressive, and Mixed-Asset Balanced fund categories chalked up 2.28%, 1.66%, 1.65%, and 1.52% returns, respectively.
• The Shanghai closed-end fund index rebounded 7.62%. The discount rate of large-capitalization closed-end funds narroweded to 25.11%. Details »

From: Lipper

•In September global markets were revived after the subprime mortgage crisis; the Hong Kong market took the lead of all Asian markets.
•Oil and gold prices hit record highs; Equity Sector Gold & Precious Metals and Equity Sector Natural Resources outperformed.
•Emerging markets rebounded; the Emerging Asia and Emerging Markets Latin America categories were key players. Details »

From: Lipper

• Equity funds (+8.77%) on average outperformed all other types of funds in September 2007.
• Among equity funds, Equity China (+15.89%), Equity Hong Kong (+14.37%), and Equity Korea (+12.15%) on average delivered the highest returns.
• All bond funds delivered positive returns in September. Details »

From: Lipper

• On average all funds (+5.04%) by asset type recorded gains, with commodities funds (+8.92%) occupying the top spot in September 2007.
• Among equity funds (+7.01%), those invested in natural resources and emerging markets stocks delivered better returns than others.
• Among bond funds (+2.43%), those invested in emerging markets and high-yield credits outperformed others. Details »

From: Lipper

• The global equity markets, especially the emerging markets, recorded good performance in September. Because of investment abroad and large IPOs the increase of the A-Shares shrank.
• All China open-end fund categories recorded positive returns in September, but returns also shrank. The Mixed-Asset Aggressive, Mixed-Asset Flexible, Equity, and Mixed-Asset Balanced fund categories chalked up 5.74%, 5.21%, 5.15%, and 4.91% returns, respectively. Details »

From Victor Chu, Zero2IPO Analyst

With the transfer of the global economic focus and industry, more and more foreign capital is rushing to China’s real estate market in various forms.

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From: Lipper

•The subprime mortgage crisis was contagious; global markets had a roller-coaster ride in August.
•The China market was walled off from and outshone other Asian markets.
•Equity Sector Real Estate rebounded, while Equity Emerging Asia markets plunged.
•The fed funds rate stayed unchanged, while the government bond yield went down because of the rally. Details »

From: Lipper

• The Asian markets all slid down in July, except for the surging A-Share market in China. The accumulated increase of the Shanghai&Shenzhen 300 index of the last 12 months reached 295.67%.
• All China open-end fund categories recorded positive returns in August. The Equity, Mixed-Asset Aggressive, Mixed-Asset Flexible, and Mixed-Asset Balanced fund categories chalked up 16.97%, 14.98%, 13.99%, and 12.90%, respectively.
• The Shanghai closed-end fund index rose 11.06% in August. The discount rate of large-capitalization closed-end funds increased to an average 26.06%. Details »