Combined KIIDS, RDA and PTA

This document consists of three documents relevant to your investment in the ATRAM Peso Money
Market Fund. By proceeding with your investment, the relevant documents are considered digitally
signed.

1. Key Investment Information Disclosure Statement

The latest Key Investment Information Disclosure Statement for the ATRAM Peso Money Market
Fund.

2. Risk Disclosure Statement

A statement of the risks relevant to your investment in the ATRAM Peso Money Market Fund.

3. Participation Trust Agreement

The agreement between you and ATRAM Trust Corporation covering your investment in the ATRAM
Peso Money Market Fund.

The cut-off for your investment in this fund is 9 am on business days. Orders you place after 9 am
will be processed on the next business day.

Please contact us at [email protected] for any questions or clarifications.

8th Floor, 8 Rockwell Bldg., Hidalgo Drive, Rockwell Center, Makati City, 1210 Philippines
Tel: (63-2) 814 7800 Fax: (63-2) 841 0315 Website: www.atram.com.ph
ATRAM PESO MONEY MARKET FUND
KEY INFORMATION AND INVESTMENT DISCLOSURE STATEMENT
As of March 28, 2018 www.atram.com.ph

FUND FACTS
Classification Money Market Fund Net Asset Value Per Unit Php 103.552030
(NAVPU)
Launch Date 16 December 2013 Total Fund NAV Php 196.38 M
Minimum Investment Php 50 Dealing Day Daily
Additional Investment Php 50 Redemption Settlement Trade Date + 0 Business Day
Minimum Holding Period None Early Redemption Charge None

FEES1
Trustee Fees 0.12% Custodianship Fees 0.00% External Auditor Fees 0.00% Other Fees 0.00%
ATRAM Trust Standard Chartered Bank & SGV and Co. (Transaction Fees)
Citibank
1 as a percentage of average daily NAV for the quarter valued at Php 209,822,070.45

INVESTMENT OBJECTIVE AND STRATEGY

The objective of the Fund is to maximize income and achieve higher returns compared to regular bank deposits while
preserving capital by investing in a portfolio of very liquid, fixed-income instruments and maintaining an average
portfolio duration of 1 year or less.

CLIENT SUITABILITY
A client suitability process shall be performed prior to participating in the Fund to guide the prospective Investor if the
Fund is suited to his/her investment objectives and risk tolerance. Clients are advised to read the Declaration of
Trust/Plan Rules of the Fund, which may be obtained from the Trustee, before deciding to invest.
The ATRAM Peso Money Market Fund is suitable only for investors who:
• have a conservative risk profile
• give prime consideration to high liquidity and capital security
• have a short term investment horizon
• are seeking better returns compared to time deposit

KEY RISKS AND RISK MANAGEMENT

You should not invest in this Fund if you do not understand or are not comfortable with the accompanying risks.
Market Risk. Factors (e.g. macroeconomic developments, political conditions) that affect the overall performance of
financial markets may lead to lower prices of securities and losses for investors. ATRAM Trust adopts an active
investment management strategy which incorporates market and fundamental research to help mitigate market risk.
Credit Risk. An investor is exposed to credit risk as there is a possibility that a borrower may fail to pay the principal
and/or interest in a timely manner on instruments such as bonds, loans, or other form of debt securities which the
borrower issued. ATRAM Trust conducts a robust credit analysis for effective investment decision making.
Interest Rate Risk. The purchase and sale of a debt instrument may result in profit or loss because the value of a
debt instrument changes inversely with prevailing interest rates. As the prices of bond investments of a fund adjust to
a rise in interest rates, the Fund’s unit price may decline. Active duration management is undertaken to mitigate interest
rate risk.
Counterparty Risk. The Fund is exposed to risks arising from solvency of its counterparties (e.g. custodian, broker,
banks) and their ability to respect the conditions of contracts or transactions. ATRAM Trust only deals with reputable
and financially stable accredited counterparties.

• THE UIT FUND IS NOT A DEPOSIT AND IS NOT INSURED BY THE PHILIPPINE DEPOSIT INSURANCE
CORPORATION (PDIC).
• RETURNS CANNOT BE GUARANTEED AND HISTORICAL NAVPU IS FOR ILLUSTRATION OF NAVPU
MOVEMENTS/FLUCTUATIONS ONLY.
• WHEN REDEEMING, THE PROCEEDS MAY BE WORTH LESS THAN THE ORIGINAL INVESTMENT AND
ANY LOSSES WILL BE SOLELY FOR THE ACCOUNT OF THE CLIENT.
• THE TRUSTEE IS NOT LIABLE FOR ANY LOSS UNLESS UPON WILLFUL DEFAULT, BAD FAITH OR
GROSS NEGLIGENCE.

ATRAM Trust Corporation

8th Floor, 8 Rockwell Building, Hidalgo Drive, Rockwell Center, Makati City, 1210 Philippines
Trunkline: +632 814 7800 | Fax: +632 841-0315 | Email: [email protected]
Liquidity Risk. Liquidity risk occurs when certain securities in a fund’s portfolio may be difficult or impossible to sell at
a particular time which may prevent the redemption of investment in a fund until its assets can be converted to cash.
ATRAM Trusts invests the portfolio in very liquid securities in order to minimize liquidity risk.
Legal and Tax Risk. The interpretation and implementation of laws and regulations are constantly changing and they
may change with retroactive effect. There is no certainty that investors will be compensated for any damage or loss
incurred as a result of legal or regulatory changes. ATRAM Trust keeps up to date on regulatory developments and
consults tax and legal professionals on the interpretation of new laws and regulations.
Investors should be aware and understand that all investments involve risk and that there is no guarantee
against losses on investments made in the Fund. The Fund Manager employs strategies to mitigate risks,
however, there is no assurance that no loss will be incurred.

FUND PERFORMANCE AND STATISTICS as of March 28, 2018

(Purely for reference purposes and is not a guarantee of future results)

NAVPU over the past 12 months

104.00
Highest 103.552030
Lowest 102.504078
102.00
Statistics over the past 12 months

Standard Deviation 0.22%

100.00
Dec-13 Sep-14 May-15 Feb-16 Oct-16 Jul-17 Mar-18 Duration (as of 3/28/2018) 0.55
Fund Benchmark Information Ratio 0.29

Standard Deviation measures how widely dispersed the

Cumulative Performance (%)
fund’s returns are away from the average return of the fund.
1 Mo 3 mos 6 mos 1 Yr 3 yrs Duration is a measure of a fixed income portfolio’s sensitivity
0.18 0.40 0.71 1.02 2.41 to interest rate changes. The longer the duration, the more the
Fund portfolio’s value will fluctuate with interest rate movements.
Benchmark* 0.08 0.25 0.50 0.97 2.77 Information ratio measures reward-to-risk efficiency of the
portfolio relative to the benchmark. The higher the number, the
*30-day Philippine Special Savings Rate
higher the reward per unit of risk.

Portfolio Composition Portfolio Holdings

1.05% % of Total
1.03% FXTN 05-72 05/23/18 2.125% 38.8%
RTB 3-8 04/11/20 4.25% 25.1%
Cash
34.00% TD Metrobank 04/02/2018 2.975% 13.9%
TD TD Chinabank 04/27/2018 2.75% 8.2%
63.92%
Government Bonds TD Chinabank 04/02/2018 3% 7.0%
Corporate Bonds TD BDO 04/02/2018 2.5% 4.6%
Globe Telecom 6 06/01/19 6% 1.0%
TD Metrobank 04/02/2018
1.825% 0.2%

ATRAM Trust Corporation

8th Floor, 8 Rockwell Building, Hidalgo Drive, Rockwell Center, Makati City, 1210 Philippines
Trunkline: +632 814 7800 | Fax: +632 841-0315 | Email: [email protected]
OTHER DISCLOSURES
The Fund may invest in time deposit or deposit products offered by the following banks:

• ANZ Bank • Deutsche Bank Manila • Philippine National Bank

• Bank of Commerce • EastWest Bank • Rizal Commercial Banking
• BDO Unibank, Inc. • HSBC Corp.
• Bank of the Phil. Islands • ING Bank • Security Bank Corporation
• China Banking Corporation • JP Morgan Chase • Standard Chartered Bank
• Citibank Group • Maybank Philippines, Inc. • UnionBank of the Philippines
• City Savings Bank, Inc. • Metrobank • Union Bank of Switzerland

or other banks that may be approved by the Board of Directors of ATRAM Trust Corporation.
Participation in the Fund may be further exposed to the risk of potential or actual conflicts of interest in the handling of in-
house or related party transactions by ATRAM Trust. These transactions may include: deposits with affiliates; purchase
of own-institution or affiliate obligations (e.g. stocks); purchase of assets from or sales to own institutions, directors,
officers, subsidiaries, affiliates or other related interests/parties; or purchases or sales between fiduciary/managed
accounts. All transactions with related parties, if any, are conducted on an arm’s length basis.

OUTLOOK AND STRATEGY

February inflation moved up to 4.5% (from 4.0%) for the 2006-base year and to 3.9% (from 3.4%) for the 2012-base
year. The difference between the two base years reflects higher weights for rice, communication, transport, health,
tertiary education and restaurants. Although the 2006-base year figures will be discontinued in July, both data sets
show the uptrend in inflation. Tax reform related impact together with higher oil prices, power rates and food prices
accounted for the acceleration in inflation last month. Despite the sharp move higher in inflation, the Bangko Sentral ng
Pilipinas (BSP) have maintained their dovish stance and reiterated that they are in no rush to raise policy rates.
The portfolio is mainly invested in various short-term money market placements and select short-term government and
corporate securities

ATRAM Trust Corporation

8th Floor, 8 Rockwell Building, Hidalgo Drive, Rockwell Center, Makati City, 1210 Philippines
Trunkline: +632 814 7800 | Fax: +632 841-0315 | Email: [email protected]
 UNIT INVESTMENT TRUST FUND
RISK DISCLOSURE STATEMENT

General Risk Factors

Prior to making an investment in any of the ATRAM Trust Corporation (“ATC”) Unit Investment Trust
Funds (the “Funds”), ATC is hereby informing you of the nature of the Funds and the risks involved in
investing therein. As investments in the Funds carry different degrees of risk, it is necessary that before
you participate/invest in any of these Funds, you should have (1) fully understood the nature of the
investment in the Funds and the extent of your exposure to risks; (2) read this Risk Disclosure
Statement completely; and (3) independently determined that investment in the Funds is appropriate
for you.

There are risks involved in investing in the Funds because the value of your investment is based on
the Net Asset Value per Unit (“NAVPU”) of the Funds, which uses a marked-to market valuation and
therefore may fluctuate daily. The NAVPU is computed by dividing the Net Asset Value (“NAV”) of a
Fund by the number of outstanding units. The NAV is derived from the summation of the market value
of the underlying securities of the Fund plus accrued interest income less liabilities and qualified
expenses.

INVESTMENT IN THE FUNDS DOES NOT PROVIDE GUARANTEED RETURNS, EVEN IF INVESTED IN
GOVERNMENT SECURITIES AND HIGH-GRADE PRIME INVESTMENT OUTLETS. YOUR PRINCIPAL AND
EARNINGS FROM INVESTMENT IN THE FUNDS CAN BE LOST IN WHOLE OR IN PART WHEN THE
NAVPU AT THE TIME OF REDEMPTION IS LOWER THAN THE NAVPU AT THE TIME OF PARTICIPATION.
Gains from investment is realized when the NAVPU at the time of redemption is higher than your
NAVPU at the time of participation.

Your investment in any of the Funds exposes you to the various types of risks enumerated and defined
hereunder:

Interest Rate Risk. An investor may experience losses due to changes in interest rates. The purchase
and sale of a debt instrument may result in profit or loss because the value of a debt instrument
changes inversely with prevailing interest rates.

The Funds’ portfolios, being marked-to-market, is affected by changes in interest rates, thereby,
affecting the value of fixed income investments such as bonds. Interest rate changes may affect the
prices of fixed income securities inversely, i.e. as interest rates rise, bond prices fall and when interest
rates decline, bond prices rise. As the prices of bond investments of a Fund adjust to a rise in interest
rates, the Fund’s unit price may decline.

Market Price Risk. Changes in market prices of securities (e.g., bonds and equities) may result to losses
for investors. It is the exposure to the uncertain market value of a portfolio due to price fluctuations.

The Funds are exposed to the risk of losing value due to a decline in securities prices, which may
sometime happen rapidly or unpredictably. The value of investments fluctuates over a given time
period because of general market conditions, economic changes or other events that impact large
portions of the market such as political events, natural calamities, etc. As a result, the NAVPU may
increase to make profit or decrease to incur loss.

Liquidity Risk. This is the possibility for an investor to experience losses due to the inability to sell or
convert assets into cash immediately or in instances where conversion to cash is possible but at a loss.
These may be caused by different reasons such as trading in securities with small or few outstanding
issues, absence of buyers, limited buy/sell activity, or underdeveloped capital market.
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 UNIT INVESTMENT TRUST FUND
RISK DISCLOSURE STATEMENT

Liquidity risk occurs when certain securities in a Fund’s portfolio may be difficult or impossible to
sell at a particular time which may prevent the redemption of investment in a Fund until its assets can
be converted to cash. Even government securities which are the most liquid of fixed income
securities may be subjected to liquidity risk particularly if a sizeable volume is involved.

Credit Risk/Default Risk. An investor is exposed to credit/default risk as there is a possibility that a
borrower may fail to pay principal and/or interest in a timely manner on instruments such as bonds,
loans, or other forms of debt instruments or security which the borrower issued. This inability of the
borrower to make good on its financial obligations may have resulted from adverse changes in its
financial condition, thus, lowering credit quality of the debt instrument or security, and consequently
lowering the price (market/price risk) which contributes to the difficulty in selling such debt instrument
or security. A credit default by an issuer of a debt security in which the Fund is invested will result in
a sharp reduction in price of such debt security and lead to a lower net asset value for the Fund.
Credit risk also includes risk on a counterparty (a party which ATC trades with on behalf of the Funds),
i.e. counterparty risk, defaulting on a contract to deliver its obligations either in cash or securities.

Reinvestment Risk. This is the risk associated with the possibility of having lower returns or earnings
when maturing placements or interest earnings are reinvested.

Investors in the Funds who redeem and realize gains run the risk of reinvesting their money in an
alternative investment outlet with lower yields. Similarly, ATC is faced with the risk of not being
able to find good or better alternative investment outlets as some of the securities in the Funds mature.

Hedging Risk. This is the risk associated with the possibility of an investor experiencing losses brought
about by the inherent risks which the underlying investment is exposed to despite the use of a hedging
instrument. Hedging is the act of reducing the exposure of the underlying investment from its risks. In
order for hedging to be effective, the prices of the hedging instruments and the underlying
investment should normally move in opposite directions.

There is no guarantee, however, that the effectiveness of a hedging instrument shall remain
throughout the term of the underlying investment. Should the hedging instrument become
ineffective, liquidating this based on market prices may result to market losses.

In case of a fund that is allowed to invest in securities denominated in currencies other than its base
currency, such fund is also exposed to the following risks:

Foreign Exchange Risk. Fluctuations in foreign exchange rates may lead to losses for a Fund.
Currency exchange rates depend on a variety of global and local factors, e.g. interest rates, economic
performance, and political developments.

It is the risk of a Fund to currency fluctuations when the value of investments in securities
denominated in currencies other than the base currency of the Fund depreciates. Conversely, it is the
risk of the Fund to lose value when its base currency appreciates. The NAVPU of a peso-denominated
Fund invested in foreign currency securities may decrease to incur losses when the peso appreciates.

Country Risk. A Fund may suffer losses arising from investments in securities issued by/in foreign
countries due to political, economic and social structures of such countries. There are risks in foreign
investments due to the possible internal and external conflicts, currency devaluations, foreign

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 UNIT INVESTMENT TRUST FUND
RISK DISCLOSURE STATEMENT

ownership limitations and tax increases of the foreign country involved which are difficult to predict
but must be taken into account in making such investments.

Likewise, brokerage commissions and other fees may be higher in foreign securities. Government
supervision and regulations of foreign stock exchanges, currency markets, trading systems and brokers
may be less than those in the Philippines. The procedures and rules governing foreign transactions
and custody of securities may also involve delays in payment, delivery or recovery of investments.

Legal and Tax Risks. The interpretation and implementation of laws and regulations are constantly
changing, and they may change with retrospective effect. As such, investors are exposed to legal
and tax risks since additional taxes, including any surcharge or penalty, may be applied to transactions
of the Fund made prior to the investor becoming a unitholder, if any change in tax laws/rulings or in
the interpretation or administration thereof is implemented with a retroactive effect. Likewise, an
increase in tax rates will have a negative impact on the performance of the Fund.

Other Risks. Your participation in the Funds may be further exposed to the risk of any actual or
potential conflicts of interest in the handling of in-house or related party transactions by ATC. These
transactions may include: own-bank deposits; purchase of own-institution or affiliate obligations (e.g.,
stocks, mortgages); purchase of assets from or sales to own institution, directors, officers,
subsidiaries, affiliates or other related interests/parties; or purchases or sales between
fiduciary/managed accounts.

Specific Risk Factors

Further to the general risk factors set out above, potential investors should be aware of certain fund
specific risks:

The Fund’s underlying investments are subject to interest rate risk and credit risk:
ATRAM Emerging Markets Bond Feeder Fund
ATRAM Global Allocation Feeder Fund
ATRAM Global Total Return Bond Feeder Fund
ATRAM Peso Money Market Fund

The Fund invests in equity securities, the prices of which fluctuate daily, sometimes dramatically,
which could result in significant losses:
ATRAM Asia Equity Opportunity Feeder Fund
ATRAM Emerging Markets Equity Opportunity Feeder Fund
ATRAM European Equity Opportunity Feeder Fund
ATRAM Global Allocation Feeder Fund
ATRAM Global Dividend Feeder Fund
ATRAM Global Equity Opportunity Feeder Fund
ATRAM Global Technology Feeder Fund
ATRAM Philippine Equity Smart Index Fund
ATRAM US Equity Opportunity Feeder Fund

The Fund is focused on a specific regional market which increases potential volatility:
ATRAM Asia Equity Opportunity Feeder Fund
ATRAM Emerging Markets Bond Feeder Fund
ATRAM Emerging Markets Equity Opportunity Feeder Fund
ATRAM European Equity Opportunity Feeder Fund
ATRAM US Equity Opportunity Feeder Fund
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 UNIT INVESTMENT TRUST FUND
RISK DISCLOSURE STATEMENT

BY SIGNING BELOW, I/WE HEREBY WARRANT THAT I/WE HAVE FULLY READ AND UNDERSTOOD THIS
RISK DISCLOSURE AND THE SAME WAS CLEARLY EXPLAINED TO ME/US BY AN ATC UITF MARKETING
PERSONNEL BEFORE I/WE AFFIXED MY/OUR SIGNATURES/S HEREIN. I/WE VOLUNTARILY AND
WILLINGLY AGREE TO COMPLY WITH ANY AND ALL LAWS, REGULATIONS, THE PLAN RULES, TERMS
AND CONDITIONS GOVERNING MY/OUR INVESTMENT IN THE ATC FUNDS.

Signature over Printed Name Signature over Printed Name

Signature over Printed Name Signature over Printed Name

Account number:

Date:

I ACKNOWLEDGE THAT I HAVE (1) ADVISED THE CLIENT TO READ THIS RISK DISCLOSURE
STATEMENT, (2) ENCOURAGED THE CLIENT TO ASK QUESTIONS ON MATTERS CONTAINED IN THIS
DOCUMENT, AND (3) FULLY EXPLAINED THE SAME TO THE CLIENT.
ATRAM Trust Corporation:

Signature over Printed Name/ Date

Position of UIT Marketing Personnel

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 UNIT INVESTMENT TRUST FUND
UNIT INVESTMENT TRUST FUND
PARTICIPATION TRUST AGREEMENT
PARTICIPATION TRUST AGREEMENT AGREEMENT
No.

Date :
Account Number :
Participant's Name :
Participant’s Address :
Name of Fund (the "Fund") :
Participation Amount :

I/We, the Participant, desire and agree to participate in the Fund being managed and administered by ATRAM
Trust Corporation, as "Trustee", in accordance with the Declaration of Trust of the Fund (the “DOT” or the
“Plan”) and the terms and conditions in this Participation Trust Agreement (the “Agreement”), executed
pursuant to the requirements of the Bangko Sentral ng Pilipinas (the "BSP").

Unless otherwise defined herein, capitalized terms used herein shall have the same meaning ascribed to them
in the Plan.

1. Participation – Participation in the Fund shall be made by purchasing Participation Units at the prevailing
Net Asset Value per Unit (the “NAVPU”) and shall not be less than the Initial Minimum Investment
Amount indicated in the Plan. Participation shall be allowed only at such frequency or at such times as
provided in the Plan. The Participant’s investment in the Fund shall be expressed in terms of number of
Participation Units as appearing in the Participant's Confirmation of Participation. Each Participation Unit
shall have uniform rights and privileges as any other Participation Units.

The Fund is subject to a Minimum Holding Period as indicated in the Fund Specifications. Any redemption
made within the Minimum Holding Period shall be subject to an Early Redemption Fee which shall be
charged to the Participant and credited to the Fund as defined in the Fund Specification. The Early
Redemption Fee for this Fund is _____% of the amount redeemed.

Subsequent contributions of a Participant in the Fund is subject to a Minimum Additional Participation

Amount as indicated in the Fund Specifications and shall result to the Participant's additional
proportionate interest in the Fund.

2. Client Suitability – Prior to the acceptance of the initial participation from a Participant, the Trustee shall
perform client suitability assessment, through a Client Suitability Assessment form which shall be
accomplished and signed by the Participant.

3. Disclosure of Risk – The Trustee shall disclose to the Participant the risks attendant to the Fund prior to
accepting the latter’s initial participation. The Participant shall acknowledge the disclosure by executing a
Risk Disclosure Statement form.

4. Redemption – The Participant may redeem his/her/its participation by submitting a Redemption Form to
the Trustee. The redemption of Participation Units shall be allowed only at such frequency or at such
times as provided in the Plan and Fund Specifications. The redemption of Participation Units will be based
on the applicable NAVPU. No partial redemption from the Fund shall be effected if the amount so
redeemed reduces the Participant's proportionate interest in the Fund below the Minimum Maintaining
Participation indicated in the Fund Specifications.

Redemptions from the Fund shall result in a reduction of the Participant's proportionate interest in the
Fund. Such reductions shall be expressed in Units based on the NAVPU.

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 UNIT INVESTMENT TRUST FUND
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PARTICIPATION TRUST AGREEMENT
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A written confirmation shall be issued to the Participant for every redemption as evidence of the partial or
full redemption of his/her/its Participation Units. The outstanding unredeemed Participation Units, as
well as subscription/redemption transactions for the relevant period, shall be reflected in a quarterly
statement to be sent to the Participant.

The Trustee reserves the right to suspend redemption of Participation Units in case of national
emergencies, fortuitous events or severe market illiquidity. In such extreme situations, there may not be
enough buyers for securities or the spreads for prices may be extremely wide, that forcing the immediate
sale of assets may be more detrimental for the fund. The Trustee may defer any request for redemption,
in whole or in part. Any redemption request so deferred will have priority, on a first-come first serve basis,
over subsequent redemption requests received on the next Business Day.

5. Administration and Investment and of Fund – The Fund, which is the pool of trust funds from the
participating Participants shall be managed, administered and invested by the Trustee under the
operation of the Plan.

The Trustee shall have the exclusive management, control and administration of the Fund, and shall have
full discretion over all matters affecting the Fund subject to the Plan and the Fund Specifications. In the
discharge of its duties enumerated in the Plan, the Trustee shall always be guided by the level of fiduciary
duty prescribed under Applicable Laws but in no case less than the diligence recognized under the prudent
man's rule.

6. Liability of the Trustee – Save for those that are attributable to the Trustee’s fraud, willful default, bad
faith or gross negligence, the Trustee shall not be liable for any loss or depreciation in the value of the
Fund or in the value of the Participant’s participation in the Fund. The Trustee shall not be liable for any
error in judgment, for any act done or step taken, or omitted by it in good faith, for any mistake of fact or
law, or for anything which it may do or refrain from doing in connection with its obligations as Trustee
under the Plan or this Agreement, or for any act or omission where such action or inaction, in the good
faith and judgment of the Trustee, was then necessary, reasonable or appropriate for the proper and
advantageous administration and management of the Fund. The Trustee, including its authorized
representatives, shall be held free and harmless from any and all liability for any of its actions and
omissions made in good faith, for which Trustee believed to be authorized or falling within its discretion,
rights or powers conferred under the Plan, the Fund Specifications and this Agreement, or upon specific
written authority from the Participant or under Applicable Laws.

7. Non-Responsibility Beyond Stipulated Scope – The Plan and this Agreement set forth exclusively the
duties and responsibilities of the Trustee with respect to the matters pertinent hereto. No implied duties
or obligations shall be read into the Plan or this Agreement against the Trustee.

8. Right to Refuse to Act on Perception of Liability or Violation of Law – The Trustee may refrain from
performing any instruction or from doing anything which it in good faith deems would or might be
contrary to law or government regulations or judgment, award or decree binding upon it or which or
might render it liable to any person or to any government agency.

9. Uncertainty as to Duty and Advice of Counsel - In the event that the Trustee shall be uncertain as to its
duties or rights hereunder or shall receive instructions, claims or demands from any party hereto which, in
its opinion conflict with any of the provisions of this Agreement or the Plan, the Trustee may refrain from
taking any action until it shall be directed by any order of a court of competent jurisdiction. The Trustee
may act in reliance upon the advice of counsel in reference to any matter in connection with this DOT, and
shall not incur any liability to any party for any act or omission taken in accordance with such advice.

10. Taxation – Taxation or tax exemption on income or other yield earned by a Participant from the Fund shall
be based on prevailing tax laws and regulations of the relevant taxing authority.

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 UNIT INVESTMENT TRUST FUND
UNIT INVESTMENT TRUST FUND
PARTICIPATION TRUST AGREEMENT
PARTICIPATION TRUST AGREEMENT AGREEMENT
Taxes on investments of the Fund or income earned by the Fund, including assessments for deficiencies,
penalties, surcharges, claims and costs for defense or counsel in appropriate proceedings shall be for the
account of the Fund.

Notwithstanding anything to the contrary contained herein, in the event that there shall hereafter occur
any change in tax laws/rulings or in the interpretation or administration thereof, the Trustee shall not be
precluded from collecting the entire amount of additional taxes, including any interest, surcharge or
penalties from the Fund or Participant, as the case may be, resulting from the implementation of such
change. The Participant/s is/are thus exposed to legal and tax risks since additional taxes, including any
surcharge or penalty, may be applied to transactions of the Fund made prior to the Participant/s
becoming a unitholder, if any change in tax laws/rulings or in the interpretation or administration thereof
is implemented with a retrospective effect.

11. Reports – Upon the request of the Participant, the financial reports of the Fund, which are prepared
periodically, shall be made available for the Participant's inspection at the Trustee's office during regular
office hours on Business Days.

12. Disclosure of Investment Outlets – The Trustee shall make available for review by the Participant, a list of
prospective and outstanding investment outlets for the Fund, which list shall be updated quarterly.

13. Compensation – As compensation for the Trustee’s services, it shall be entitled to Trust Fees as provided
in the Plan.

14. Expenses – The Trustee may charge the Fund for other qualified expenses incurred by it in the
management of the Fund, including custody fees, external audit fees, and other similar expenses, as
allowed by the BSP. The Trustee may charge the Fund for special expenses, such as attorney ’s fees should
the Fund be involved in litigation, if the same are necessary to preserve or enhance the value of the Fund.
Such special expense shall be payable to pertinent third party or parties, covered by separate contract/s,
and disclosed to Participants in the quarterly reports.

15. Term of Agreement – This Agreement shall continue and remain in force until the full redemption of the
Participant’s participation or upon termination of the Fund in accordance with the Plan or with Applicable
Laws then existing.

16. Reference Documents – Incorporated herein by reference are the terms, conditions, rules and regulations
in the Plan, Client Suitability Assessment form, Risk Disclosure Statement, and the Confirmation of
Participation to be issued pursuant hereto.

17. Amendments – The Plan and the Fund Specifications may be amended from time to time by the Trustee
and the amendments shall be submitted to the BSP within the period prescribed by the applicable rules
and regulations of the BSP. Participants in the Fund shall be immediately notified and may withdraw their
participation if they are not in conformity with the amendments made.

18. Nature of the Agreement – The participation in the Fund is a trust product/arrangement and NOT A
DEPOSIT ACCOUNT. Neither is it an obligation of, or guaranteed, issued, or insured by ATRAM Trust
Corporation or its affiliates or subsidiaries. The Fund is, therefore, not insured or governed by the
Philippine Deposit Insurance Corporation (PDIC). The Fund, its yields and potential yields are not
guaranteed. Any income or loss arising from market fluctuations and price volatility of the securities
held by the Fund, even if invested in government securities, is for the account of the Participant. As
such, Participation Units in the Fund, when redeemed, may be worth more or worth less than his/her
initial investment/contribution. Historical performance, when presented, is purely for reference
purposes and not a guarantee of similar future results. The Trustee is not liable for losses, unless
upon willful default, bad faith or gross negligence.

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 UNIT INVESTMENT TRUST FUND
UNIT INVESTMENT TRUST FUND
PARTICIPATION TRUST AGREEMENT
PARTICIPATION TRUST AGREEMENT AGREEMENT
ADVISORY: THE INVESTOR MUST READ THE COMPLETE DETAILS OF THE FUND IN THE PLAN
/DECLARATION OF TRUST AND THE FUND SPECIFICATIONS AND SHOULD MAKE HIS/HER OWN
INDEPENDENT ASSESSMENT, AND WHEN NECESSARY, MUST SEEK INDEPENDENT PROFESSIONAL
OPINION/ADVICE BEFORE MAKING ANY INVESTMENT IN THE FUND.

BY SIGNING BELOW, I/WE HEREBY WARRANT THAT I/WE HAVE FULLY READ AND UNDERSTOOD,
AND ACCORDINGLY ACCEPT AND AGREE TO BE BOUND BY, THE FOREGOING TERMS AND
CONDITIONS, THE RISK DISCLOSURE STATEMENT, AS WELL AS THE PLAN AND THE FUND
SPECIFICATIONS, ALL OF WHICH WAS EXPLAINED TO ME/US BY AN ACCOUNT OFFICER.

Trustor(s):

Signature over Printed Name Signature over Printed Name

Signature over Printed Name Signature over Printed Name

I ACKNOWLEDGE THAT I HAVE (1) ADVISED THE CLIENT TO READ THIS AGREEMENT AND THE
REFERENCED DOCUMENTS, (2) ENCOURAGED THE CLIENT TO ASK QUESTIONS ON MATTERS
CONTAINED IN THIS AGREEMENT, AND (3) FULLY EXPLAINED THE SAME TO THE CLIENT.

ATRAM Trust Corporation:

Signature over Printed Name

Version: 10 October 2016 Page 4 of 4