FUND

Cumulative Fund
Annualized Fund
Calendar Year Fund
Benchmark
2
Cumulative Benchmark
2
Annualized Benchmark
2
Calendar Year Benchmark
2
Net Asset Value per Share (NAVPS)
Total Fund Size (in Millions)
YOY Return as of 06/27/2014 Name
Benchmark2 YOY Return as of 5/31/2014 Republic of the Phils Bond
Annualized Volatility FGEN Bond
Inception Date Republic of the Phils Bond
Fund Classification SM Bond
Risk Profile Republic of the Phils Bond
Fund Currency
Domicile
Min. Initial Investment
Min. Transaction
Min. Holding Period
Redemption Notice Period
Valuation Method
Custodian Bank
Transfer Agent
pdbf
5.25% -9.40% 11.71% 3.55%
2013 2012 2011 2010
1 MO 1 YR 3 YRS 5 YRS S.I.
3
2.07% 4.53% 24.44% 54.75% 138.76%
7.56% 9.13% 9.13% 7.08%
PHILAM DOLLAR BOND FUND, INC
June 27, 2014
9.48% 12.44%
6.80% Yield Maturity
Fund Allocation
Investment Objective NAVPS Graph
The investment objective of the Philam Dollar Bond Fund, Inc. is long-
term capital preservation with returns and inflows derived out of
investments in fixed income instruments. The fund considers medium to
long-term investment horizons for its shareholders.
-0.30% 6.80% 9.18% 28.98% 98.11%
1 MO 1 YR 3 YRS 5 YRS S.I.
3
5.49%
YTD
% of Fund
1
Returns are net of fees. Past performance is not indicative of future returns.
2
90% JP Morgan Asia Credit Index - Philippines Total Return + 10% Philippines Dollar Depo Rate
60 Days (Net of 7.5% WHT) as of May 31, 2014
3
Since Inception
Key Figures and Statistics
$ 1.9999
Top Five Holdings 65.58
Historical Performance
1
YTD 2013 2012 2011 2010
6.80% 2.97% 5.22%
8.98%
6.50% -4.55% 14.17%
Fixed Income Fund 5.500% 3.40% 10/13/17
4.53% 4.200% 3.49% 01/21/24
4.87%
September 12, 2001 5.000% 4.27% 01/13/37 6.74%
9.32%
4.19% 6.500% 5.89% 10/09/23 7.90%
Readership: This document is intended solely for the addressee(s). Its content may be legally privileged and/or confidential. This material is only valid if distributed in the Philippines.
Opinions: Any opinions expressed in this document may be subject to change without notice. We are not soliciting or recommending any action based on this material.
Risk Warning: Past performance is not indicative of future results. Our investment management services relate to a variety of investments, each of which can fluctuate in value. The value of portfolios we manage may
fall as well as rise, and the investor may not get back the full amount originally invested. The investment risk vary between different types of instruments. For example, for portfolios denominated in foreign currencies,
changes in the rate of exchange may cause the value of investments, and consequently the value of the portfolio, to increase or decrease. In the case of a higher portfolio volatility, the realized loss upon redemption
may be high, as the investment's value may decline substantially. In making an investment decision, prospective investors must rely on their own examination of the merits and risks involved. Unless otherwise noted,
all information contained herein is sourced from Philam Group internal data. The content included herein has been shared with various in-house departments within the member companies of Philam Group, in the
ordinary course of completion. All Philam Group member companies comply with the confidentiality requirements of their respective jurisdictions. Parts of this presentation may be based on information received from
sources we consider reliable.
$ 2,000
$ 100
Six Months
Five Days
Marked-to-Market
Citibank N.A.
Weak revised 1Q14 GDP overshadows other positive economic headlines. 1Q14 GDP was revised lower-than-expected to -2.9% QoQ from a -1.0% to -1.8%. However, consumer
confidence rose to 85.2 vs 83.5 in June. Jobless claims were in line with expectations at 312k while continuing claims for the week ending 14 June also settled within expectations at 2571k.
Fed speak: the Fed is more hawkish than market perception. According to St. Louis Fed President James Bullard, the economy is improving enough to withstand an increase in short-
term interest rates next year as growth picks up. Bullard who favors raising the benchmark rate in 1Q15 predicted the pace of economic growth will accelerate to 3% this year despite an
unexpected contraction in 1Q14.

US Treasuries revisited recent lows last week. Given the weak revision to the GDP data coupled with increasing tensions in Iraq, UST yields fell 7bps on mid-week. Strong demand for 5-
year UST also supported yields last week. Meanwhile, ROP prices have been confined in a tight range despite the move in USTs. With the end of 1H14 approaching, most banks were
pressured to book profits, thereby capping gains in prices.

Looking Ahead: Despite the weak revision to the GDP, the outlook on a gradually rising interest rate environment remains. Short term, technical play continues to influence US Treasury
movements while ROPs still display strong correlation. The geopolitical issues in Iraq have also created an aberration to USTs via risk aversion. This week markets will focus on US and EU
employment data, US ADP payrolls number and EU policy meeting.
2/02/30 4.75%
Deutsche Bank A.G. (Mla)
Commentary
US Dollar
Maturity Profile Philippines
Conservative 9.500% 4.48%
1.8
1.9
2
2.1
2.2
6/27/13 9/27/13 12/27/13 3/27/14 6/27/14
CASH &
EQUIV.,
5.05%
CORP
BONDS,
31.38%
GOV'T.
SEC.,
63.57%
1.62%
24.65%
41.69%
32.03%
< 2 years
< 6 years
< 10 years
> 10 years