Centralised Investment Process Model Portfolio 9

Transcription

1 Centralised Investment Process Model Portfolio 9 Key Investor Information Company Name Portfolio Composition (04 July 2014) Fund Name % of total fund Baillie Gifford European 5 Fidelity Emerging Markets 10 Fidelity South East Asia 6 First State Asia Pacific Leaders 7 Franklin UK Smaller Companies 6 Invesco Perpetual Hong Kong & China 8 JPM Emerging Markets 12 Lazard Emerging Markets 12 M&G Global Emerging Markets 10 Newton Oriental Fund 8 Old Mutual UK Mid Cap 5 Old Mutual UK Alpha 6 Schroder US Mid Cap 5 These documents provide you with key investor information about the funds shown above. It is not marketing material. The information is required by law to help you understand the nature and risks of investing in these funds. You are advised to read the documents so you can make an informed decision about whether to invest.

2 Key Investor Information This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Old Mutual UK Mid Cap Fund R (GBP) Accumulation Shares (GB00B1XG9482) A sub-fund of Old Mutual Investment Funds Series I. The Authorised Corporate Director that manages the Fund is Old Mutual Fund Managers Limited. Objectives and investment policy Objective: Capital growth by investing primarily in shares (i.e. equities) and similar investments of medium-sized companies listed or located in the UK. Policy: The Fund will invest in UK company shares and similar investments. The Fund will typically invest at least 80% in mediumsized UK companies. Medium sized companies are defined as those that are no larger than the largest company in the FTSE Mid 250 Index at the time of investment. The Fund is managed having regard to the FTSE 250 Ex Investment Trusts Index; however the Fund does not track the index. Treatment of income: income from investments will be retained within the Fund. This will increase the value of your shares. Dealing: you can buy and sell shares on any working day in London. Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within 5 years. For full investment objectives and policy details please refer to the "Investment Objective and Policy" section of Appendix I to the prospectus. Risk and reward profile The Risk and Reward Indicator table demonstrates where the Fund ranks in terms of its potential risk and reward. The higher the rank the greater the potential reward but the greater the risk of losing money. It is based on past data, may change over time and may not be a reliable indication of the future risk profile of the Fund. The shaded area in the table below shows the Fund s ranking on the Risk and Reward Indicator. Typically lower rewards, lower risk Typically higher rewards, higher risk Funds in category 6 have in the past shown relatively high volatility. With a fund of category 6, you have a relatively high risk of losing money but your chance for gains is also relatively high. The category shown is not a target or guarantee and may shift over time. Even the lowest category 1 does not mean a risk-free investment. The seven-category scale is nonlinear, for example, 2 is not twice as risky as 1. Investment risk - There is no guarantee that the Fund will achieve its objective. Geographic Concentration risk - a fall in the UK market may have a significant impact on the value of the Fund because it primarily invests in this market. Currency risk - the Fund is denominated in British Pounds but may hold assets denominated in, or with exposure to, other currencies. The value of your shares may rise and fall as a result of exchange rate movements between these currencies. Capital erosion risk - The Fund takes its charges from the income of the Fund in the first instance. The impact of Fund charges may be material on the value of any income you receive from your investment. There is potential for capital erosion if insufficient income is generated by the Fund to cover these charges. For a more detailed explanation of risks, please refer to the "Risks" section of the prospectus. Page 1 of 2.

3 Charges The charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest Entry charge 0.00% Exit charge 0.00% These are the maximum charges that we might take out of your money before it is invested and before we pay out the sale proceeds of your investment. In some cases, you might pay less and you should speak to your financial adviser about this. The ongoing charges figure is based on the last year s expenses and may vary from year to year. It excludes the costs of buying or selling assets for the Fund (unless these assets are shares of another fund). The ongoing charges figure has been calculated as at 31 December For more information about charges please refer to the "Fees and Expenses" section of the prospectus. Charges taken from the Fund over a year Ongoing charges 0.92% Charges taken from the Fund under specific conditions Performance fee NONE Past performance % You should be aware that past performance is not a guide to future performance. Fund launch date: 22/02/2002. Share/unit class launch date: 18/05/2012. Performance is calculated in GBP. All charges and fees, except any entry charge, have been included within the performance. * FTSE 250 Index (ex IT) Fund 38.4 Index * 34.9 Source: FE 2014 Practical information The Depositary is National Westminster Bank Plc. Old Mutual UK Mid Cap Fund is a sub-fund of Old Mutual Investment Funds Series I. The assets and liabilities of each Fund are segregated from other sub-funds although it is not yet known whether a foreign court would give effect to segregated liability under a foreign law contract and so this is not certain in every circumstance. Further information about the UCITS, copies of its prospectus, annual and half-yearly reports may be obtained, for the entire UCITS, free of charge in English from the Investor Services Team at Old Mutual Fund Managers Limited, FREEPOST RRYH-XTSY-HEZH, PO Box 10278, Chelmsford, CM99 2AR or visit The latest share prices are available from the Investor Services Team during normal business hours and will be published daily at www. omglobalinvestors.com. You may switch your shares to the shares of another sub-fund. For further details, and any associated charges see the "Purchase, Redemption and Switching" section of the prospectus. This Fund is subject to tax laws and regulations of the United Kingdom. Depending on your home country of residence, this might have an impact on your personal tax position. For further details, please speak to your adviser. Old Mutual Fund Managers Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the UCITS. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Old Mutual Fund Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This Key Investor Information is accurate as at 06/02/2014. A3I7 Page 2 of 2.

4 Key Investor Information This document provides you with key investor information about this Fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this Fund. You are advised to read it so you can make an informed decision about whether to invest. JPM Emerging Markets Fund B - Net Accumulation a Share Class of JPM Emerging Markets Fund a Fund of JPMorgan Fund ICVC ISIN GB00B1YX4S73 The Authorised Corporate Director ("ACD") is JPMorgan Funds Limited Objective and Investment Policy Investment Objective: To provide long term capital growth by investing primarily in equity and equity-linked securities of emerging markets companies. Investment Policy: Emerging markets companies are companies that are incorporated under the laws of, and have their registered office in, an emerging market country, or that derive the predominant part of their economic activity from emerging market countries, even if listed elsewhere. Smaller companies may be held on an ancillary basis. Other instruments as permitted in the stated investment and borrowing powers of the Company including, but not limited to, fixed interest securities, cash and cash equivalents may be held on an ancillary basis, as appropriate. Redemption and Dealing: Shares of the Fund may be redeemed on demand, with dealing normally on a daily basis. Management Discretion: The Investment Adviser has the discretion to buy and sell investments on behalf of the Fund within the limits of the Objective and Investment Policy. Benchmark: The benchmark of the Fund is MSCI Emerging Markets Index (Net). The benchmark is a point of reference against which the performance of the Fund may be measured. The Fund may bear little resemblance to its benchmark. Distribution Policy: This Share Class will reinvest income. Recommendation: The Fund may not be appropriate for investors who plan to withdraw their money within five years. For an explanation of some of the terms used in this document, please visit the glossary on our website at Risk and Reward Profile Lower risk Potentially lower reward Higher risk Potentially higher reward The above rating is based on the historic volatility of the Net Asset Value of the Share Class over the last five years and may not be a reliable indication of the future risk profile of the Share Class. The risk and reward category shown above is not guaranteed to remain unchanged and may change over time. A Share Class with the lowest risk rating does not mean a risk-free investment. Why is this Share Class in this category? This Share Class is classified in category 6 because its Net Asset Value has shown high fluctuations historically. Other material risks: u The value of your investment may fall as well as rise and you may get back less than you originally invested. u u u u The value of equity and equity-linked securities may fluctuate in response to the performance of individual companies and general market conditions. Emerging markets may be subject to increased political, regulatory and economic instability, less developed custody and settlement practices, poor transparency and greater financial risks. Emerging market currencies may be subject to volatile price movements. Emerging market securities may also be subject to higher volatility and be more difficult to sell than non-emerging market securities. Movements in currency exchange rates can adversely affect the return of your investment. Further information about risks can be found in "Part 11: Risk Warnings" of the Prospectus.

5 Charges One-off charges taken before or after you invest Entry charge Exit charge None None This is the maximum that might be taken out of your money before it is invested or before the proceeds of your investment are paid out. Charges taken from this Share Class over a year Ongoing charge 1.18% Charges taken from this Share Class under certain specific conditions Performance fee: None u The actual entry and exit charges paid may be less. Information on charges can be obtained from the investor's financial adviser. u The Prospectus permits a fee to be charged for switching between Funds but this fee is currently waived by the Authorised Corporate Director. u The ongoing charge is based on the last year's expenses (excluding performance fees) ending 31 December u Charges are used to pay the costs of running this Share Class. These charges reduce the potential growth of the investment. u Further information about charges can be found in "Part 5: Charges and Expenses" section of the Prospectus. Past Performance % JPM Emerging Markets Fund B - Net Accumulation (GB00B1YX4S73) Benchmark u Past performance is not a guide to future performance. u Performance data has been calculated including tax, ongoing charges and portfolio transaction costs and excluding entry and exit charges, in GBP. u Fund launch date: u Share Class launch date: Practical Information Depositary: The fund depositary is National Westminster Bank Plc. Further Information: A copy of the Prospectus and latest annual and semi-annual financial report in English can be downloaded or ordered online from or are available free of charge upon request from our UK-based Investor Services Team on (or if calling from outside the UK) or by writing to J.P. Morgan Asset Management, Client Administration Centre, 60 Victoria Embankment, London EC4Y 0JP. Share prices can be obtained online at or by telephoning (or if calling from outside the UK). Share prices of Class A and E Shares are published daily in the Financial Times. Please note if you call J.P. Morgan Asset Management, calls may be recorded and monitored for security and training purposes. Tax: The Fund is subject to UK tax regulations. This may have an impact on an investor's personal tax position. Legal Information: JPMorgan Funds Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus. JPMorgan Fund ICVC consists of separate Funds, each of which issues one or more Share Classes. This document is prepared for a specific Share Class. The Prospectus and annual and semiannual financial reports are prepared for JPMorgan Fund ICVC. The Fund is part of JPMorgan Fund ICVC. The assets and liabilities of each fund in JPMorgan Fund ICVC are segregated by law. This means that the assets of the Fund belong exclusively to the Fund and will not be used to pay the liabilities of any other person or body, including JPMorgan Fund ICVC or any other Fund within JPMorgan Fund ICVC. Switching and Conversion: Investors may switch into Shares of another Fund of JPMorgan Fund ICVC or convert Shares in one Class in a Fund to Shares of another Class in the same Fund subject to meeting any relevant eligibility requirements and minimum holding amounts. Further information can be found in "section Switching and Conversion of Shares" of the Prospectus. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). JPMorgan Funds Limited is authorised in the United Kingdom and regulated by the FCA. This Key Investor Information is accurate as at 18/03/2014.

6 Key Investor Information Document This document provides you with key investor information about this Fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this Fund. You are advised to read it so you can make an informed decision about whether to invest. ISIN GB00B24F1G74 Lazard Fund Managers Ltd, part of the Lazard group Lazard Emerging Markets Fund Institutional Accumulation Shares Lazard Emerging Markets Fund is a sub-fund of Lazard Investment Funds (the "UCITS") Objectives and Investment Policy Lazard Emerging Markets Fund (the "Fund") aims to achieve long term capital growth through investment in shares of companies which are based or have significant business interests in developing and emerging market countries. The Fund has discretion as to which shares it will hold and aims to generate returns that are better than the returns of the MSCI Emerging Markets Index. The Fund will seek to acquire shares of companies which are selling for low prices relative to the financial strength of the companies (i.e. shares which are undervalued). Portfolio transactions costs are higher for the type of securities that the Fund invests in. Risk and Reward Profile Income and profits, if any, attributable to your shares will not be paid out as a dividend, but will be accumulated in the Fund on your behalf and reflected in an increase in the value of your shares. You can sell your shares back to the Fund on any day normally treated as a business day in United Kingdom. Recommendation: This Fund may not be appropriate for investors who plan to withdraw their money within the short to medium term. Lower Risk Higher Risk Typically Lower Rewards Typically Higher Rewards The risk and reward category is calculated using historical data and may not be a reliable indicator of the Fund's future risk profile. The risk and reward category may shift over time and is not a target or guarantee. The lowest category (i.e. category 1) does not mean "risk free". The Fund appears in the higher risk category on the risk and reward indicator. This is because the Fund invests primarily in shares, whose values tend to have higher price fluctuations. The returns from your investment may be affected by changes in the exchange rate between the Fund's base currency, and the currency of the Fund's investments, your share class and where you live. Emerging markets may also have less developed political, economic and legal systems and there is a higher risk that the Fund may not get back its money. There is no capital guarantee or protection of the value of the Fund. The value of your investment and the income from it can go down as well as up and you may not get back the amount you invested. See "Risk Factors" in the UCITS' Prospectus for more information about risks. This Fund is authorised in UK and regulated by Financial Conduct Authority. Lazard Fund Managers Ltd, part of the Lazard group is authorised in UK and regulated by Financial Conduct Authority. This key investor information is accurate as at 19 February Page 1/2

7 Lazard Emerging Markets Fund Institutional Accumulation Shares Lazard Emerging Markets Fund is a sub-fund of Lazard Investment Funds (the "UCITS") Charges The charges you pay are used to pay the costs of running the Fund, including marketing and distributing costs. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest. Entry charge 3.00% Exit charge N/A This is the maximum that might be taken out of your money before it is invested and before proceeds of your investment are paid out. Charges taken from the Fund over a year Ongoing charges 1.07% Charges taken from the Fund under certain specific conditions Performance fee Past Performance 80% 60% 40% 20% 0% -20% -40% -60% N/A Lazard Emerging Markets Fund Institutional Accumulation Shares MSCI EM USD Practical Information The entry and exit charges shown are maximum figures in some cases you may pay less. You can find out the actual charges from your financial advisor. The ongoing charges figure is based on expenses for the year ending 31 December 2013 and does not include any performance fee or portfolio transaction costs incurred where we buy or sell assets for the Fund. Entry or exit charges paid by the Fund when buying or selling units in another fund are included. This figure may vary from year to year. In the case of a large purchase or sale of shares in the Fund an amount for dilution levy may be charged where existing shareholders might otherwise be adversely affected (see "Dilution Levy and Large Deals" in the Prospectus). Please see "Fees and Expenses", "Dealing Charges" and "Other Dealing Information" in the UCITS' Prospectus for more information about charges. You may switch between sub-funds of the UCITS. A fee may be payable. This will not exceed the amount of the initial charges of the Fund that you are switching into. The Fund's launch date was: 26/05/1997 The graph shows annual performance calculated in GBP for each full calendar year since the share class has been in issue. The share class launch date was: 01/10/2007. Past performance is not a reliable guide to future performance. The past performance shown in the chart takes account of all charges except the Fund's entry charge. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI. The UCITS' depositary is State Street Trustees Limited. The Fund is one of a number of a sub-funds of the UCITS. Each sub-fund has its own specific portfolio of assets and its own liabilities. However, a creditor may look to all the assets of all the sub-funds of LIF for payment, regardless of which sub-fund owes money to the creditor. See "Company Structure" in the Prospectus for further information. You may switch between sub-funds of the UCITS. A fee may be payable. This will not exceed the amount of the initial charges of the Fund that you are switching into. See "Switching" in the Prospectus. Further information about the Fund may be obtained from the Prospectus and annual and half-yearly Report and Accounts, all of which are prepared for the UCITS as a whole and which are available free of charge in English from Lazard Asset Management Limited, 50 Stratton Street, London W1J 8LL or in English at The Fund is subject to the tax legislation of the UK. This may have an impact on your personal tax position. The latest share price is published at and in the Financial Times. Lazard Fund Managers Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the UCITS' Prospectus. This Fund is authorised in UK and regulated by Financial Conduct Authority. Lazard Fund Managers Ltd, part of the Lazard group is authorised in UK and regulated by Financial Conduct Authority. This key investor information is accurate as at 19 February Page 2/2

8 Key Investor Information This document provides you with key investor information about this Fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this Fund. You are advised to read it so you can make an informed decision about whether to invest. M&G Global Emerging Markets Fund a sub-fund of M&G Investment Funds (7) Sterling Class I Income shares ISIN no. GB00B3FFXY53 Sterling Class I Accumulation shares ISIN no. GB00B3FFXX47 Managed by M&G Securities Limited, which is part of the Prudential Group Objective and investment policy Objective Income and growth. Investment policy At least 70% of investment will be in shares of companies based in emerging market countries. The current reference point for defining emerging market countries are those included within the MSCI Emerging Markets Index and/or those included in the World Bank definition of developing economies as updated from time to time. The Fund may use derivatives for investment and hedging purposes. [Derivatives are financial instruments whose value is linked to the expected future price movements of an underlying asset.] You can buy and sell shares in the Fund on any business day. Provided we receive your instruction before 12 noon, shares will be bought at that day s price. This Fund allows the fund manager to make discretionary choices when deciding which investments should be held in the Fund. If you hold income shares, any income from the Fund may be paid out to you. If you hold accumulation shares, any income from the Fund will be rolled up into the value of your investment. In addition to the charges set out in the charges section, the Fund will incur portfolio transaction costs which are paid from the assets of the Fund. These tend to be higher when investing outside Europe. Risk and reward profile Low risk Typically lower rewards High risk Typically higher rewards The above risk number is based on the rate at which the value of the Fund has moved up and down in the past. This risk number is based on simulated historical data and may not be a reliable indicator of the future risk profile of the Fund. The risk number shown is not guaranteed and may change over time. 4 The lowest risk number does not mean risk free. The Fund has the above risk number because of the effect of the following risks: The value of stockmarket investments, and the income from them, will fluctuate. This will cause the Fund price to fall as well as rise and you may not get back the original amount you invested. Any investment in international companies means that currency exchange rate fluctuations will have an impact on the Fund. The Fund invests/or can invest in securities denominated in Euros. Economic uncertainties facing the Eurozone mean that there is an increased risk of asset prices fluctuating or losing value. It may also be difficult to buy and sell securities and issuers may be unable to repay the debt. In addition, there is a risk that disruption in Eurozone markets could give rise to difficulties in valuing the assets of the Fund. In the event that it is not possible to carry out an accurate valuation of the Fund, dealing may be temporarily suspended Emerging markets The fund will invest in emerging markets which tend to have larger price fluctuations than more developed countries. The Fund may encounter difficulties when buying and selling these investments or converting the proceeds of a sale or any income earned back into the base currency of the Fund. The Fund invests mainly in one geographic region or country. It is therefore more vulnerable to the market sentiment of that specific geographic region or country. This type of fund can carry a higher risk and can experience larger than average price fluctuations when compared to a fund with a broader investment universe UK K1 GEMS GBP I EN UK

9 Charges The charges shown in the table are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest Entry charge 1.00% Exit charge 0.00% This is the maximum that might be taken out of your money before it is invested. Charges taken from the Fund over a year Ongoing charge 1.01% Charges taken from the Fund under certain specific conditions Performance fee None The entry and exit charges shown are the maximum figures and, in some cases, you may pay less. You can find out the specific charges which apply to your investment by contacting your financial adviser, distributor, or by contacting us using the details given in the practical information section. The ongoing charge is based on expenses for the year ending 31 July This figure may vary from year to year. It excludes performance fees and portfolio transaction costs (except in the case of an entry / exit charge paid by the Fund when buying and selling shares in another fund). Past performance % (10.0) (20.0) (30.0) 25.1 (18.1) Past performance is not a guide to future performance. The past performance calculation does not take into account the entry and exit charges but does take into account the ongoing charge, as shown in the Charges section. The Fund launched on 5 February The Sterling Class I Accumulation share class and Sterling Class I Income share class launched on 5 February Past performance is calculated using Sterling Class I Income shares (1.3) Fund For more information on charges, please refer to the relevant sections of the Prospectus which can be found by visiting UK K1 GEMS GBP I EN UK Practical information The depositary is National Westminster Bank plc. For further information about this Fund, please visit where you can obtain a copy of the Prospectus, Instrument of Incorporation, and latest annual or interim Investment Report and Financial Statements in English, free of charge. Our website also provides other information not contained in the above documents such as share prices. This Fund is subject to UK tax laws, which may have an impact on your personal tax position. Please speak to an adviser for further information. M&G Securities Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund. The Fund is a sub-fund of M&G Investment Funds (7), an umbrella Open Ended Investment Company (OEIC). The Prospectus, and annual or interim Investment Report and Financial Statements contain information about all of the sub-funds in M&G Investment Funds (7). The assets of each sub-fund within the umbrella OEIC are segregated by law. This means that the assets belong exclusively to that sub-fund and shall not be used or made available to pay the debts of any other sub-fund or the umbrella OEIC. You may switch between other sub-funds of M&G Investment Funds (7). An entry charge may apply. Details on switching are provided in the Important Information for Investors document and the Fund s Prospectus, or by calling M&G Customer Relations on Other share classes may exist for the Fund as set out in the relevant Prospectus. This Fund is authorised in the UK and regulated by the Financial Conduct Authority. M&G Securities Limited is authorised in the UK and regulated by the Financial Conduct Authority. This key investor information is accurate as at 14 February 2014.

10 Key Investor Information This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Fidelity South-East Asia Fund a sub-fund of Fidelity Investment Funds W Accumulation Shares (ISIN: GB00B6Y7NF43) This fund is managed by FIL Investment Services (UK) Limited Objectives and Investment Policy Aims to provide long-term capital growth. Invests in shares of companies throughout the Pacific Basin, but excluding Japan. The portfolio is likely to have a bias towards larger companies. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Can use derivatives with the aim of risk or cost reduction or to generate additional capital or income in line with the fund's risk profile. The fund has discretion in its choices of investments within its objectives and policies. Income is accumulated in the share price. Shares can usually be bought and sold each business day of the fund. This fund may not be appropriate for investors who plan to sell their shares in the fund within 5 years. Investment in the fund should be regarded as a long-term investment. Risk and Reward Profile Lower risk Typically lower rewards Higher risk Typically higher rewards The risk category was calculated using historical performance data. The risk category may not be a reliable indication of the future risk profile of the fund, is not guaranteed and may change over time. The lowest category does not mean a "risk free" investment. The risk and reward profile is classified by the level of historical fluctuation of the Net Asset Values of the share class, and within this classification, categories 1-2 indicate a low level of historical fluctuations, 3-5 a medium level and 6-7 a high level. The value of your investment may fall as well as rise and you may get back less than you originally invested. Movements in currency exchange rates can adversely affect the return of your investment. The currency hedging may be used to minimise the effect of this but may not always be successful. The use of financial derivative instruments may result in increased gains or losses within the fund. Liquidity is a measure of how easily an investment can be converted into cash. Under certain market conditions assets may be more difficult to sell. Emerging markets may be more volatile and it could be harder to sell or trade securities. There may be less supervision, regulation and less well-defined procedures than in more developed countries. Emerging markets can be sensitive to political instability, which can result in greater volatility and uncertainty, subjecting the fund to the risk of losses.

11 Key Investor Information Fidelity South-East Asia Fund Charges for this fund (ISIN: GB00B6Y7NF43) The charges you pay are used to pay the costs of running the fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest Entry charge N/A Exit charge N/A This is the maximum that might be taken out of your money before it is invested or before the proceeds of your investment are paid out. Charges taken from the fund over a year Ongoing charges 0.95% Charges taken from the fund under certain specific conditions Performance fee N/A The entry and exit charges shown are maximum figures. In some cases you might pay less - you can find this out from your financial adviser / distributor. The ongoing charges figure is based on expenses for the year ending 28/02/2013. This figure may vary from year to year. It excludes: performance fees (where applicable); portfolio transaction costs, except in the case of an entry/exit charge paid by the fund when buying or selling units in another collective investment undertaking. For more information about charges, please consult the charges section in the most recent Prospectus. Past Performance 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% Past performance is not a guide to future performance results. If any, the past performance shown takes into account all ongoing charges with exception of any applicable entry/exit charges. The fund was launched on 13/10/1984. This class was launched on 15/10/2012. Past performance has been calculated in GBP. If applicable, events in the fund's life which may have affected the performance history are highlighted as an '*' in the chart, which may include changes to the fund's objective and details of such events can be found on our website. If applicable, the Investment Objective section shall refer to a benchmark and information on previous benchmarks may be found in the Annual Report and Accounts. Practical Information The depositary is J.P. Morgan Chase Bank. For more information, please consult the Prospectus and latest Reports and Accounts which can be obtained free of charge in English and other main languages from the Fund Manager, the distributors or online at any time. The Net Asset Values per Share are available at the registered office of the Fund Manager. They are also published online at where other information is available. The tax legislation in United Kingdom may have an impact on your personal tax position. For further details you should consult a tax advisor. This document describes a sub-fund and share class of Fidelity Investment Funds (the 'investment company'). The Prospectus and Reports and Accounts are prepared for the entire investment company. FIL Investment Services (UK) Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the investment company. The assets and liabilities of each sub-fund of Fidelity Investment Funds are segregated by law and with that assets of this sub-fund will not be used to pay liabilities of other sub-funds. More share classes are available for this investment company. Details can be found in the Prospectus. You have the right to switch from this share class into the same or possibly other share class types of this or another sub-fund. Details on switching rules can be found in the Prospectus. Country in which this fund is authorised: United Kingdom. The Supervisory Authority is: Financial Conduct Authority. Country in which FIL Investment Services (UK) Limited is authorised: United Kingdom. The Supervisory Authority is: Financial Conduct Authority. This key investor information is accurate as at 07/05/2014.

12 Key Investor Information This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Franklin UK Smaller Companies Fund Class W(acc) ISIN GB00B7FFF708 A sub-fund of Franklin Templeton Funds The management company is Franklin Templeton Fund Management Limited Objectives and Investment Policy Franklin UK Smaller Companies Fund (the "Fund ) aims to increase the value of its investments by more than the return of the Numis Smaller Companies ex-investment Trusts Index over the medium to long term (meaning 3-5 years). Capital in the Fund is at risk and there is no guarantee that the objective will be achieved over that, or any, time period. The Fund invests mainly in: equity securities from smaller UK-listed companies that have a market value no greater than the largest company in the HGSC Index and are traded on markets regulated by a government body. The Fund can invest to a lesser extent in: equity securities of smaller companies listed outside the UK Using detailed fundamental company research the investment management team aim to invest in a diversified portfolio of small UK companies that in their view offer the potential for attractive rates of earnings growth irrespective of economic conditions. You may request the sale of your shares on any UK business day. For the accumulation share class shown in this document, dividend income is reinvested in the Fund. For further information on the Objectives and Investment Policy of the Fund, please refer to the Investment Objectives and Policies of the Funds section of the current prospectus of Franklin Templeton Funds. Terms to Understand Equity securities: Securities that represent an ownership stake in a company. Risk and Reward Profile Lower risk Potentially lower rewards Higher risk Potentially higher rewards What does this indicator mean and what are its limits? This indicator is designed to provide you with a measure of the price movement of this share class based on historical behavior. Historical data may not be a reliable indication of the future risk profile of the Fund. The category shown is not guaranteed to remain unchanged and may shift over time. The lowest category does not mean risk free. As the share class has no sufficient historical data available, simulated data based on a representative portfolio model or benchmark have been used instead. Why is the Fund in this specific category? The Fund invests mainly in equity securities of smaller UK companies that are no larger that the largest company in the Numis Smaller Companies ex-investment Trusts Index. Such securities have historically been subject to price movements, sometimes to a greater extent than securities of larger UK companies, due to company-specific factors or movements in the UK equity markets generally. As a result, the performance of the Fund can fluctuate significantly over relatively short time periods. Risks materially relevant not adequately captured by the indicator: Liquidity risk: the risk that arises when adverse market conditions affect the ability to sell assets when necessary. Reduced liquidity may have a negative impact on the price of the assets. For a full discussion of all the risks applicable to this Fund, please refer to the Risk Factors section of the current prospectus of Franklin Templeton Funds. 1/2

13 Franklin UK Smaller Companies Fund Charges The charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest Entry charge Exit charge Not applicable* Not applicable *This share class is only available through certain financial advisers which may apply their own charges. You may find more information about charges from your financial adviser. The ongoing charges are based on the expenses for the year ending 31 December This figure may vary from year to year. For detailed information about charges, please refer to the Fees and Charges section of the current prospectus of Franklin Templeton Funds. This is the maximum that might be taken out of your money before it is invested. Charges taken from the Fund over a year Ongoing charges 0.93% Charges taken from the Fund under certain specific conditions Performance fee Not applicable Past Performance 70.0% 35.0% 0.0% -35.0% -70.0% Past performance is not a guide to future performance. The past performance shown here includes all the ongoing charges. Past performance is calculated in GBP The Fund was launched in 2011 and the present share class on 31/05/2012. Franklin UK Smaller Companies Fund Class W(acc) Numis Smaller Companies ex-investment Trusts Index (This benchmark is provided for information and indicative purposes only.) The Franklin UK Smaller Companies Fund was launched on 17/10/11 to receive the assets of Rensburg UK Smaller Companies Trust. Past performance from the start of the performance chart has been simulated and is based on mid-price of the Trust and from 17/10/11 up to the launch date of the share class has been simulated by taking the performance of another existing share class of the Fund, which does not differ materially in the extent of its participation in the assets of the Fund. Practical Information The Depositary of Franklin Templeton Funds is BNY Mellon Trust & Depositary (UK) Limited. You can obtain further information about the Fund, copies of its prospectus and the latest annual and semi-annual reports of Franklin Templeton Funds from the website or free of charge from Franklin Templeton Fund Management Limited, The Adelphi, 1 11 John Adam Street, London WC2N 6HT or your financial adviser. These documents are each available in English. The latest prices and other practical information on the Fund (including information about the other share classes of the Fund) are available from Franklin Templeton Fund Management Limited, The Adelphi, 1 11 John Adam Street, London WC2N 6HT or Please note that the United Kingdom taxation regime may have an impact on your personal tax position. Please consult your financial or tax adviser before deciding to invest. Franklin Templeton Fund Management Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus of the Fund. The present Fund is a sub-fund of Franklin Templeton Funds. The prospectus and the annual and semi-annual reports refer to all sub-funds of Franklin Templeton Funds. All Funds of Franklin Templeton Funds have segregated assets and liabilities. As a result, each Fund is operated independently from each other. You may exchange shares with another sub-fund of Franklin Templeton Funds as further described in the prospectus. This Fund is authorised in the United Kingdom and is regulated by the Financial Conduct Authority. Franklin Templeton Fund Management Limited is authorised in the United Kingdom and is regulated by the Financial Conduct Authority. This key investor information is accurate as at 30/05/2014. KII-GB00B7FFF708-GB-en-GB /2

14 Key Investor Information This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Schroder US Mid Cap Fund an Authorised Unit Trust of Schroder Unit Trusts Limited Class Z Accumulation (GB00B7LDLV43) This fund is managed by Schroder Unit Trusts Limited, which is a member of the Schroders Group. Objectives and Investment Policy Objectives The fund aims to provide capital growth and income. Investment Policy At least 80% of the fund will be invested in shares of mediumsized North American companies. The fund has no bias to any particular industry. The companies will be in the bottom 40% by size of the North American market at the time of purchase. The fund invests in a broad range of medium sized North American companies on the belief that they will offer better growth prospects than their larger peers over the medium to long term. Smaller companies are typically at the early stages of their expansion and under-researched compared to their larger peers. Our investment approach focuses on three types of companies: companies that demonstrate strong growth trends and improving levels of cash; companies which generate dependable earnings and revenues; and companies which are companies that are undergoing positive change that is not being recognised by the market. By doing so, we believe that we can reduce overall risk and improve returns for our investors over the medium to long term. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to reduce risk or manage the fund more effectively. Benchmark This unit class is managed with reference to the Russell 2500 TR Lagged GBP financial index. The manager invests on a discretionary basis and is not limited to investing in accordance with the composition of this benchmark. Dealing Frequency You may redeem your investment upon demand. This fund deals daily. Distribution Policy This unit class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the unit class. Risk and Reward Profile Lower risk Potentially lower reward Higher risk Potentially higher reward The risk and reward indicator The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund is in this category because it can take higher risks in search of higher rewards and its price may rise and fall accordingly. Other particular risks Counterparty risk / derivatives: If a counterparty to a financial derivative contract were to default, the unrealised profit on the contract and its market exposure may be lost. Operational risk / third parties: The fund's operations depend on third parties and it may suffer disruption or loss in the event of their failure.

15 Schroder Unit Trusts Limited Schroder US Mid Cap Fund Charges One-off charges taken before or after you invest Entry charge None Exit charge None This is the maximum that might be taken out of your money before it is invested. Charges taken from the fund over a year Ongoing Charge 0.91% Charges taken from the fund under certain specific conditions Performance fee None The charges you pay are used to pay the costs of running the fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. The entry and exit charges shown are maximum figures and in some cases you might pay less. You can find out the actual entry and exit charges from your financial advisor. The ongoing charges figure is based on the last year's expenses for the year ending December 2013 and may vary from year to year. Please see the prospectus for more details about the charges. Past Performance % Z Accumulation (GB00B7LDLV43) Russell 2500 TR Lagged GBP Performance shown during this period predates the launch of this unit class and has been simulated using the history of a similar unit class within the fund. Past performance is not a guide to future performance and may not be repeated. The value of investments may go down as well as up and you may not get back the amount you originally invested. The chart shows performance in British pound after the ongoing charges and the portfolio transaction costs have been paid. Entry and exit charges are excluded from calculations of past performance. The fund was launched on 1 June Practical Information Trustee: J. P. Morgan Trustee and Depositary Company Ltd. Further Information: You can get further information about this fund, including the prospectus, latest annual report, any subsequent half-yearly reports and the latest price of units from and from Schroder Investments Limited, PO Box 1102, Chelmsford, Essex, CM99 2XX, England, telephone They are in English, free of charge. Tax Legislation: The fund is subject to tax in the United Kingdom, which may have an impact on your personal tax position as an investor. Liability: Schroder Unit Trusts Ltd may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the fund's prospectus. Switches: Subject to conditions, you may apply to switch your investment into another unit class within this fund or in another Schroder fund. Please see the prospectus for more details. Glossary: You can find an explanation of some of the terms used in this document at This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). This key investor information is accurate as at 19 February 2014.

16 Key Investor Information This document provides you with key investor information about this Fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this Fund. You are advised to read it so you can make an informed decision about whether to invest. NEWTON ORIENTAL FUND INSTITUTIONAL SHARES W (NET ACCUMULATION) (ISIN: GB00B8GJF672) A SUB-FUND OF BNY MELLON INVESTMENT FUNDS THIS FUND IS MANAGED BY BNY MELLON FUND MANAGERS LIMITED OBJECTIVES AND INVESTMENT POLICY OBJECTIVE Long-term capital growth by investing in shares (i.e. equities) and similar investments of companies listed or located in the Asia Pacific region (excluding Japan). POLICY The Fund will: invest in the Asia Pacific region excluding Japan; invest in both developed and emerging Asia Pacific countries; invest in company shares and similar investments; invest in companies of all sizes (e.g. small, medium and large companies) and in any industry (e.g. pharmaceuticals, financials, etc); typically invest in fewer than 60 company shares; and limit investment in other collective investment schemes to 10%. RISK AND REWARD PROFILE Lower risk Potentially lower reward Higher risk Potentially higher reward We have calculated the risk and reward category, as shown above, using a method of calculation derived from EU rules. It is based on the rates at which Funds of this type have moved up and down in the past (i.e. volatility) and is not a guide to the future risk and reward category of the Fund. The category shown is not a target or guarantee and may shift over time. Even the lowest category 1 does not mean a risk-free investment. Funds in category 6 have in the past shown relatively high volatility. With a fund of category 6, you have a relatively high risk of losing money but your chance for gains is also relatively high. THE FOLLOWING RISKS MAY NOT BE FULLY CAPTURED BY THE RISK AND REWARD INDICATOR: There is no guarantee that the Fund will achieve its objective. This Fund invests in international markets which means it is exposed to changes in currency rates which could affect the value of the Fund. The Fund may: invest in derivatives (i.e. financial contracts whose value is linked to the expected price movements of an underlying investment) with the aim of reducing the overall costs and/ or risks of the Fund. Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within five years. Treatment of income: income from investments will be retained within the Fund. This will increase the value of your shares. Dealing: you can buy and sell your shares in the Fund between 9:00 and 17:00 (UK time) on each working day in the UK. Instructions received before 12:00 will receive the price quoted on that day. The minimum initial investment for this share class is 10,000,000. A fall in the Asia Pacific markets may have a significant impact on the value of the Fund because it primarily invests in these markets. The Fund may use derivatives to reduce costs and/or the overall risk of the Fund (i.e. Efficient Portfolio Management (EPM)). Derivatives involve a level of risk, however, for EPM, they should not increase the overall riskiness of the Fund. The Fund invests in emerging markets. These markets have additional risks due to less developed market practices. A fall in the value of a single investment may have a significant impact on the value of the Fund because it typically invests in a limited number of investments. The Fund may invest in investments that are not traded regularly and are therefore subject to greater fluctuations in price. The Fund may invest in small companies which may be riskier and less liquid (i.e. harder to sell) than large companies. This means that their share prices may have greater fluctuations. The Fund takes its charges from the income of the Fund in the first instance. The impact of Fund charges may be material on the value of any income you receive from your investment. There is potential for capital erosion if insufficient income is generated by the Fund to cover these charges. A complete description of risk factors is set out in the Prospectus in the section entitled "Risk Factors". BNY MELLON INVESTMENT FUNDS

17 CHARGES The charges cover the costs of running the Fund, including the costs of marketing and selling. These charges reduce the potential growth of your investment. ONE-OFF CHARGES TAKEN BEFORE OR AFTER YOU INVEST Entry charge 0.00% Exit charge None This is the maximum that might be taken out of your money before it is invested and before the proceeds of your investment are paid out. CHARGES TAKEN FROM THE FUND OVER A YEAR Ongoing charge 0.84% CHARGES TAKEN FROM THE FUND UNDER CERTAIN SPECIFIC CONDITIONS Performance fee None PAST PERFORMANCE % Newton Oriental Fund Institutional Shares W (Net Accumulation) (GB00B8GJF672) The ongoing charge is based on expenses calculated on 31st December This may vary from year to year. It excludes performance fees and portfolio transaction costs, except in the case of an entry/exit charge paid when buying or selling units in another mutual fund. More information about charges is available in the Prospectus. The chart includes all charges except entry charges. Fund launch date - 30 November Share class launch date - 4 September Performance of this share class is calculated in sterling. Past performance is not a guide to future performance Fund % -3.1 PRACTICAL INFORMATION Documents: The Fund is a sub-fund of BNY Mellon Investment Funds ("BNY MIF"), an umbrella open-ended investment company (OEIC). Copies of the Prospectus, annual and semi-annual reports for BNY MIF may be obtained free of charge from or from BNY Mellon Investment Management EMEA Limited, BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA. These documents are available in English and certain other languages. Share price: The latest share price and other information, including how to buy or sell shares, are available from the website and address given above. Other share classes are offered by the Fund as set out in the Prospectus. Switching: Investors may switch shares in the Fund for shares in other sub-funds of BNY MIF provided they satisfy the criteria applicable to investment in other sub-funds. Further information on switching is contained in the Prospectus. Each sub-fund of the umbrella OEIC is normally responsible for meeting its own debts. However, the sub-funds are not segregated by law. This means that if one sub-fund in the umbrella is unable to pay its debts the other sub-funds in the umbrella could be responsible for them. Liability statement: BNY Mellon Fund Managers Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund. Depositary: National Westminster Bank plc. Tax: The tax legislation of the Fund's domicile may have an impact on your personal tax position. For further details, please speak to an adviser. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. BNY Mellon Fund Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at 7 February 2014.

18 Key Investor Information This document provides you with key investor information about this Fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this Fund. You are advised to read it so you can make an informed decision about whether to invest. Invesco Perpetual Hong Kong & China Fund A sub-fund of the Invesco Perpetual Far Eastern Investment Series ICVC Z Accumulation share class (ISIN: GB00B8N44V30) This Fund is managed by Invesco Fund Managers Limited, part of the Invesco Group. Objectives and Investment Policy - The objective of the Fund is to achieve capital growth - The Fund invests primarily in shares of companies with exposure to the economies of Hong Kong and China - The Fund may use derivatives (complex instruments) to manage the Fund more efficiently, with the aim of reducing risk, minimising costs or generating additional capital or income - The Fund is actively managed within its objectives and is not constrained by a benchmark - You can buy, sell and switch shares in the Fund on any UK business day - Any income is reinvested into the Fund - Recommendation: The Fund may not be appropriate if you plan to withdraw your money within 5 years Risk and Reward Profile Lower risk Typically lower rewards n n n n n Higher risk Typically higher rewards The risk category above is not a measure of capital loss or gains, but of how significant the rises and falls in the Share Class price have been historically For example a share class whose price has experienced significant rises and falls will be in a higher risk category, whereas a share class whose price has experienced less significant rises and falls will be in a lower risk category As the Share Class risk category has been calculated using historical data, it may not be a reliable indication of the Share Class future risk profile Please note that the Share Class risk category may change in the future and is not guaranteed. The lowest risk category does not mean a risk free investment The Share Class is in risk category 6 as its price has experienced very significant rises and falls historically Other risks n The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and you may not get back the full amount invested. Over time, inflation may erode the value of investments n As this is an emerging market fund, you should be prepared to accept a higher degree of risk than for a fund with a broader investment mandate as there is potential for a decrease in market liquidity, which may mean that it is not easy to buy or sell securities. There may also be operational difficulties n As the Fund has a concentrated number of holdings investors should be prepared to accept higher risks n The Fund may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of the Fund. The Manager, however, will ensure that the use of derivatives within the Fund does not materially alter the overall risk profile of the Fund n The Fund s performance may be adversely affected by variations in the relative strength of world currencies or if Sterling strengthens against those currencies n A more detailed description of risk factors that apply to this Fund is set out in Section 30 of the Prospectus

19 Charges The charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest Entry charge 5.00% Exit charge None Any charges shown are the maximum that might be taken out of your money before it is invested. Charges taken from the Fund over a year Ongoing charge 0.94% Charges taken from the Fund under certain specific conditions Performance fee None - The entry charge shown is a maximum figure. In some cases you might pay less - you can find this out from your financial adviser or distributor - The ongoing charge figure is based on a fixed, all-inclusive fee as at 1 April Investors will be provided with advance notice if any increases to this figure occur. The figure excludes portfolio transaction costs - If you switch funds within the Invesco Perpetual range you will be charged a maximum 1% entry charge on your new fund - For more information about charges, please see Appendix 1, sections E and F of the Fund s Prospectus, which is available at Past Performance % growth The Fund was launched on 18 December This Share Class was launched on 12 November The base currency of the Fund is Sterling - Performance figures are calculated in Sterling - Performance figures are calculated on a mid-to-mid basis, inclusive of net reinvested income and net of the ongoing charge and portfolio transaction costs. The figures do not reflect the entry charge paid by individual investors - Past performance is not a guide to future returns Practical Information - Depositary: Citibank International plc - The UK tax regime may have an impact on your personal tax position - You can check the latest price for this Share Class on our website - You are entitled to switch from this Fund to another fund on request, subject to a switching charge - The Fund is structured by having segregated liability between its sub-funds. As a consequence the assets of the sub-fund will not be available to meet the liabilities of another sub-fund within the Umbrella Fund, although it is not yet known whether a foreign court would apply segregated liability if a dispute arose under a foreign law contract made with the Fund - Invesco Fund Managers Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund - The following share classes are available for the Fund: Accumulation, Accumulation (No Trail), Y Accumulation and Z Accumulation - For further details, or to receive a free copy in English of the Prospectus and the latest Annual or Interim Short Report, please visit our website at or call us on This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority Invesco Fund Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority This Key Investor Information is accurate as at 01 April _3/PDF/010414

20 Key Investor Information This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Emerging Markets Fund a sub-fund of Fidelity Institutional Funds W Accumulation Shares (ISIN: GB00B9SMK778) This fund is managed by FIL Investment Services (UK) Limited Objectives and Investment Policy Aims to provide long-term capital growth with the level of income expected to be low. Invests primarily in company shares in countries experiencing rapid economic growth including those in Africa, the Indian sub-continent, Latin America, South East Asia, Europe and the Middle East. Has the freedom to invest outside the fund's principal geographies, market sectors, industries or asset classes. Can use derivatives with the aim of risk or cost reduction or to generate additional capital or income in line with the fund's risk profile. The fund has discretion in its choices of investments within its objectives and policies. Income is accumulated in the share price. Shares can usually be bought and sold each business day of the fund. This fund may not be appropriate for investors who plan to sell their shares in the fund within 5 years. Investment in the fund should be regarded as a long-term investment. Risk and Reward Profile Lower risk Typically lower rewards Higher risk Typically higher rewards The risk category was calculated using historical performance data. The risk category may not be a reliable indication of the future risk profile of the fund, is not guaranteed and may change over time. The lowest category does not mean a "risk free" investment. The risk and reward profile is classified by the level of historical fluctuation of the Net Asset Values of the share class, and within this classification, categories 1-2 indicate a low level of historical fluctuations, 3-5 a medium level and 6-7 a high level. The value of your investment may fall as well as rise and you may get back less than you originally invested. Movements in currency exchange rates can adversely affect the return of your investment. The currency hedging may be used to minimise the effect of this but may not always be successful. The use of financial derivative instruments may result in increased gains or losses within the fund. Liquidity is a measure of how easily an investment can be converted into cash. Under certain market conditions assets may be more difficult to sell. Emerging markets may be more volatile and it could be harder to sell or trade securities. There may be less supervision, regulation and less well-defined procedures than in more developed countries. Emerging markets can be sensitive to political instability, which can result in greater volatility and uncertainty, subjecting the fund to the risk of losses. In some emerging markets, such as Russia, the safekeeping provisions for securities benefit from less governed standards.

21 Key Investor Information Emerging Markets Fund Charges for this fund (ISIN: GB00B9SMK778) The charges you pay are used to pay the costs of running the fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest Entry charge N/A Exit charge N/A This is the maximum that might be taken out of your money before it is invested or before the proceeds of your investment are paid out. Charges taken from the fund over a year Ongoing charges 1.03% Charges taken from the fund under certain specific conditions Performance fee N/A The entry and exit charges shown are maximum figures. In some cases you might pay less - you can find this out from your financial adviser / distributor. The ongoing charges figure is based on expenses for the year ending 30/06/2013. This figure may vary from year to year. It excludes: performance fees (where applicable); portfolio transaction costs, except in the case of an entry/exit charge paid by the fund when buying or selling units in another collective investment undertaking. For more information about charges, please consult the charges section in the most recent Prospectus. Past Performance 50% 40% 30% 20% 10% 0% Past performance is not a guide to future performance results. If any, the past performance shown takes into account all ongoing charges with exception of any applicable entry/exit charges. The fund was launched on 28/07/1997. This class was launched on 13/05/2013. Past performance has been calculated in GBP. There is insufficient data to provide a useful indication of past performance to investors. If applicable, events in the fund's life which may have affected the performance history are highlighted as an '*' in the chart, which may include changes to the fund's objective and details of such events can be found on our website. If applicable, the Investment Objective section shall refer to a benchmark and information on previous benchmarks may be found in the Annual Report and Accounts. Practical Information The depositary is J.P. Morgan Chase Bank. For more information, please consult the Prospectus and latest Reports and Accounts which can be obtained free of charge in English and other main languages from the Fund Manager, the distributors or online at any time. The Net Asset Values per Share are available at the registered office of the Fund Manager. They are also published online at where other information is available. The tax legislation in United Kingdom may have an impact on your personal tax position. For further details you should consult a tax advisor. This document describes a sub-fund and share class of Fidelity Institutional Funds (the 'investment company'). The Prospectus and Reports and Accounts are prepared for the entire investment company. FIL Investment Services (UK) Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the investment company. The assets and liabilities of each sub-fund of Fidelity Institutional Funds are segregated by law so that assets of this sub-fund will not be used to pay liabilities of other sub-funds. More share classes are available for this investment company. Details can be found in the Prospectus. You have the right to switch from this share class into the same or possibly other share class types of this or another sub-fund. Details on switching rules can be found in the Prospectus. Country in which this fund is authorised: United Kingdom. The Supervisory Authority is: Financial Conduct Authority. Country in which FIL Investment Services (UK) Limited is authorised: United Kingdom. The Supervisory Authority is: Financial Conduct Authority. This key investor information is accurate as at 08/05/2014.

22 KEY INVESTOR INFORMATION This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Objectives and Investment Policy capital growth by predominantly investing in UK shares (i.e. equities) and similar investments of companies. the Fund will invest predominantly in UK company shares and similar investments. Companies may be of all sizes (e.g. small, medium and large companies) and in any industry (e.g. pharmaceuticals, financials, etc). The Fund will typically hold between 30 and 40 companies and has no bias to any particular industry or size of company. who plan to withdraw their money within 5 years. income from investments will be retained within the Fund. This will increase the value of your shares. London. you can buy and sell shares on any working day in The Fund may invest in derivatives (i.e. financial contracts whose value is linked to the expected price movements of an underlying investment) with the aim of reducing the overall costs and/or risks of the Fund. The Fund is managed having regard to the FTSE All-Share Index; however the Fund does not track the index. the Fund may not be appropriate for investors Risk and Reward Profile The calculated risk and reward category, as shown above, uses a method of calculation derived from EU rules. It is based on the rate at which the returns of the Fund have moved up and down in the past (i.e. volatility) and is not a guide to the future risk and reward category of the Fund. The category shown is not a target or guarantee and may shift over time. Even the lowest category 1 does not mean a risk-free investment. The seven-category scale is nonlinear, for example, 2 is not twice as risky as 1. Funds in category 6 have in the past shown relatively high volatility. With a fund of category 6, you have a relatively high risk of losing money but your chance for gains is also relatively high. Investment risk - there is no guarantee that the Fund will achieve its objective. Geographic concentration risk - a fall in the UK market may have a significant impact on the value of the Fund because it primarily invests in this market. Concentration risk (number of securities) - the Fund typically invests in a limited number of investments. A fall in the value of a single investment may have a greater impact on the Fund s value than if it held a larger number of investments. Liquidity risk - some investments may become hard to value or sell at a desired time and price. In extreme circumstances this may affect the Fund s ability to meet redemption requests upon demand. Currency risk - the Fund is denominated in British Pounds but may hold assets denominated in, or with exposure to, other currencies. The value of your units may rise and fall as a result of exchange rate movements between these currencies. Derivative risk - the Fund may use derivatives to reduce costs and/or the overall risk of the Fund (i.e. Efficient Portfolio Management (EPM)). Derivatives involve a level of risk, however, for EPM; they should not increase the overall riskiness of the Fund. Derivatives also involve counterparty risk where the institutions acting as counterparty to derivatives may not meet its contractual obligations. Capital erosion risk - the Fund takes charges from capital of the Fund. Investors should be aware that there is potential for capital erosion if insufficient capital growth is achieved by the Fund to cover the charges. Capital erosion may have the effect of reducing the level of income generated. For a more detailed explanation of risks, please refer to the "Risks" section of the prospectus. DocID: KIID_GB00B946BX62_en_ _7_1_U1_(GBP)_Accumulation_Uni_72070

23 Charges These charges are used to pay the costs of running the Fund, including the costs of marketing and distribution. Overall, they reduce the growth of your investment. One-off charges taken before or after you invest The charges shown are the maximum figures. In some cases you Entry charge Up to 5.00% might pay less. You can find out your actual charges from your Exit charge None financial adviser. This is the maximum that might be taken out of your money before it is invested and before the proceeds of your investment are paid out. Charges taken from the fund over a year Ongoing charge 0.78% Charges taken from the Fund under specific conditions Performance fee None None The ongoing charge shown is an estimate. This figure may vary from year to year. It excludes portfolio transaction costs, except in the case of an entry/exit charge paid by the Fund when buying or selling units in another collective investment undertaking. You can find out more details about the charges by looking at Schedule 1 of the prospectus. Past Performance There is insufficient data to produce a useful indication of past performance for the Unit Class Past performance is not a guide to future performance. The past performance shown does not take into account any entry or exit charges but does take into account the ongoing charge, as shown in the Charges section. The value of the class is calculated in British Pounds. The Fund launched on 31 January This class started to issue units on 9 May Practical Information The Trustee is National Westminster Bank Plc. Old Mutual UK Alpha Fund is a sub-fund of Old Mutual MultiManager Trust ("the Trust"). The assets and liabilities of each Fund are segregated from other sub-funds although it is not yet known whether a foreign court would give effect to segregated liability under a foreign law contract and so this is not certain in every circumstance. Further information about the Trust, copies of its prospectus, annual and half-yearly reports may be obtained, for the entire Trust, free of charge in English from the administrator, Citibank N.A., at PO Box 27061, 227 West George Street, Glasgow, G2 9GT or visit The latest unit prices are available from the administrator during normal business hours and will be published daily at You may switch your units to the units of another sub-fund of the Trust free of charge. For further details see the "Switching" section of the prospectus. This Fund is subject to tax laws and regulations of the United Kingdom. Depending on your home country of residence, this might have an impact on your personal tax position. For further details, please speak to your adviser. Old Mutual Investment Management Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the Trust. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Old Mutual Investment Management Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at 7 February : DocID: KIID_GB00B946BX62_en_ _7_1_U1_(GBP)_Accumulation_Uni_72070

24 Key Investor Information This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Baillie Gifford European Fund Class B - Accumulation Shares - ISIN GB This Fund is a sub-fund of Baillie Gifford Overseas Growth Funds ICVC which is an Investment Company with Variable Capital. Baillie Gifford & Co Limited is the Authorised Corporate Director of the Fund and is wholly owned by Baillie Gifford & Co. Objectives and investment policy Objective The Fund aims to achieve capital growth. Policy To invest in any economic sector in continental Europe including the Republic of Ireland. Investment will be mainly in shares of companies. Other Information You can sell some or all of your shares on any business day in the United Kingdom by contacting our Dealing Department by phone or post. Where properly completed documentation is received by post, shares will be sold at the next valuation point following receipt of the instruction. Income will be re-invested. No further shares will be purchased but the reinvestment will be reflected in the price of your existing accumulation shares. You are, however, deemed to have received the income for tax purposes. For further explanation and information see the investment objective and policy section of the Prospectus, which is available by contacting us. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within five years. Risk and reward profile The Risk and Reward Indicator table demonstrates where the Fund ranks in terms of its potential risk and reward. The higher the rank the greater the potential reward but the greater the risk of losing money. It is based on past data, may change over time and may not be a reliable indication of the future risk profile of the Fund. The shaded area in the table below shows the Fund s ranking on the Risk and Reward Indicator. Typically lower rewards, lower risk Typically higher rewards, higher risk Please note that even the lowest risk class can lose you money and that extreme adverse market circumstances can mean you suffer severe losses in all cases. The Fund is classified in the category above because it invests in company shares which generally provide higher rewards and higher risks than other investments such as bonds or cash. The indicator does not take into account the following relevant material risks: Investment markets can go down as well as up and market conditions can change rapidly. The value of an investment in the Fund, and any income from it, can fall as well as rise and you may not get back the amount invested. Custody of assets may involve a risk of loss if the custodian becomes insolvent or breaches duties of care. Where possible, all charges are taken from the Fund's revenue. Where there is insufficient revenue, the remainder will be taken from capital. This will reduce the capital value of the Fund. We are aware that the Scottish Referendum Vote in September 2014 introduces elements of political uncertainty which may have practical consequences. We will continue to closely monitor these developments. Page 1 of 2.

25 Charges The charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest Entry charge 1.00% Exit charge 0.00% These are the maximum charges that we might take out of your money before it is invested and before we pay out the sale proceeds of your investment. In some cases, you might pay less and you should speak to your financial adviser about this. Switching charge (for switching into the Fund from another fund) 0.00%. The ongoing charges figure is based on the last year s expenses and may vary from year to year. It excludes the costs of buying or selling assets for the Fund (unless these assets are shares of another fund). For the ongoing charge, the figure is at 31/10/2013. The Fund's annual report for each financial year will include detail on the exact charges made. You can find further details about the charges in Part 6 of the Prospectus. There is no switching charge applicable when switching from another Baillie Gifford fund. For all other types of transfer into the Fund the full initial charge may be applicable. Charges taken from the Fund over a year Ongoing charges 0.71% Charges taken from the Fund under specific conditions Performance fee NONE Past performance % You should be aware that past performance is not a guide to future performance. Fund launch date: 17/06/1985. Share/unit class launch date: 06/01/2000. Performance is calculated in GBP. Performance reflects the annual charge but excludes any initial charge paid. Performance figures are to 31 December each year Fund Source: FE 2014 Practical information The Fund s Depositary is National Westminster Bank Plc. You can obtain further information on the Fund, the Prospectus and the latest annual and interim reports from Baillie Gifford or by visiting the website at These are available in English free of charge on request. This Key Investor Information Document describes the Baillie Gifford European Fund only. The Prospectus and the annual and interim reports and accounts are prepared for the whole ICVC. Baillie Gifford European Fund is a sub-fund of Baillie Gifford Overseas Growth Funds ICVC. The assets of the Fund are segregated from other sub-funds in the ICVC. This means that the assets of one sub-fund should not be used to meet the liabilities of another sub-fund. You can also find other information, including the Fund s latest prices, on our website. Tax laws in the United Kingdom may have an impact on your own tax position. You may at any time switch all or some of your shares in the Fund for shares in any fund of any of the Baillie Gifford ICVC(s). Baillie Gifford & Co Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund. To contact us please call Client Relations on (fax ) or visit our website at or us at trustenquiries@bailliegifford.com. Your call may be recorded for training or monitoring purposes. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This Key Investor Information is accurate as at 16/05/2014. BG90 Page 2 of 2.

26 Key Investor Information This document provides you with key investor information about this Fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this Fund. You are advised to read it so you can make an informed decision about whether to invest. First State Asia Pacific Leaders Fund Class B (Accumulation) GBP (Fund) ISIN GB a sub-fund of First State Investments ICVC (the Company) First State Investments (UK) Limited, the authorised corporate director of the Company Objectives and investment policy Objective: The Fund aims to grow your investment. Policy: The Fund invests in shares of companies based in or having significant operations in the Asia Pacific region including Australia and New Zealand excluding Japan. The Fund invests in shares of large and mid-sized companies in the region. These companies generally have a total stock market value of at least US$1 billion. You can buy and sell shares in the Fund on any business day. As long as we receive your instruction before 12 noon (UK time), shares will be bought at that day s price. The Fund's manager may use its discretion when deciding which investments should be held by the Fund. You will not receive any income from your investment. Any income will be rolled up into the value of shares in the Fund. In addition to the charges set out in the charges section, the Fund will incur portfolio transaction costs which are paid from the assets of the Fund. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within five years. Risk and reward profile Lower Risk Potentially Lower Rewards Higher Risk Potentially Higher Rewards The synthetic risk reward indicator (the SRRI) rating is not a measure of the risk of you losing your investment but describes how much the value of the Fund has gone up and down in the past. The SRRI rating is based on historical data which may not be a reliable indication of the future risks and rewards of the Fund. We cannot guarantee that the rating of the Fund will remain the same; it may change over time. Even the lowest rating 1 does not mean a risk free investment. On a scale of 1 (less risky) to 7 (more risky), this Fund has a rating of 6 due to its past performance and the nature of its investments. Shares with a rating of 6 might have higher risks, but also higher returns. Risk is taken in order to make a higher potential return; the more risk a fund takes, the higher the potential return but the greater the risk of loss. The value of the Fund and its return is not guaranteed and may fall as well as rise. You may get back less than you originally invested. Material risks not adequately captured by the SRRI: Emerging market risk: emerging markets may not provide the same level of investor protection as a developed market; they may involve a higher risk than investing in developed markets. Currency risk the Fund invests in assets which are denominated in other currencies; changes in exchange rates will affect the value of the Fund. For further information on risks, please refer to the Risk Factors section in the Company's prospectus. Page 1/2