The Volatility Factor (VF) means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC is revised every six months or other interval as advised by FIMM. The volatility banding for the “Very Low”, “Low”, “Moderate”, “High” and “Very High” VCs as at 30 September 2020 are 0.000 ≤ VF ≤ 3.640, 3.640 < VF ≤ 10.390, 10.390 < VF ≤ 13.905, 13.905 < VF ≤ 16.910 and VF more than 16.910 respectively. For this period to 31 December 2020 the VCs for the funds are based on the VFs of the respective funds as at 30 September 2020. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.