Ann: AGF 01-15 - December 2014 NAV, page-6

Am I correct?
As the value of the Australian dollar falls, the value of the AGF units in Australian dollar terms should increase.

The renminbi floats within an allowed range but I imagine that its value is determined to a large extent by the US dollar. Therefore as the value of US dollar increases in relation to the Australian dollar, so too will the Renminbi. As the Renminbi increases so too will the AGF units.

Probably overly simplified, but have I got it right?

Thanks in advance.