Key Investor Information

Transcription

1 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. Aberdeen Defensive Gilt Fund C Inc (ISIN GB00B019H596) Aberdeen Defensive Gilt Fund C Acc (ISIN GB00B019H489) A sub-fund of Aberdeen Investment Funds UK ICVC II. Aberdeen Fund Managers Limited is the Authorised Corporate Director that manages the Fund. Objectives and investment policy The aim of this Fund is to provide a combination of income and growth of capital by investing in a portfolio of predominantly bonds. The Fund invests mainly in UK government bonds with a maturity of up to five years. It may also invest in a range of other investment instruments. The bond rating will be of investment grade at the time of purchase. 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. The fund may use derivatives (financial contracts whose value is linked to an underlying asset) to manage risks and costs. Typically lower rewards, lower risk Typically higher rewards, higher risk Income and accumulation shares are available. If you select accumulation shares, any income earned by the fund will be reinvested and automatically reflected in the value of your shares. If you select income shares, your shares may provide an income. If you take an income it will be paid directly to you and won t be added to the value of your investment. You may buy, sell and switch shares daily, except on English bank holidays and other days at our discretion. The Investment Manager is free to choose how the Fund is invested within the limits of its investment policy. However, the FTSE British Government <5 years Index is currently taken into account when the Fund's investments are selected The Fund is in this category because the value of the underlying investments are subject to price fluctuations. The lowest category 1 does not mean a risk-free investment. The risk indicator was calculated using simulated historical data. Investing in this fund also carries the following risks: Interest Rate Risk: Fluctuations in interest rates are likely to affect the value of the bonds and other fixed-interest securities held by the Fund. If long-term interest rates rise, the value of your investment is likely to fall. Credit Risk:There is a risk that the issuers of bonds may not be able to repay the money they have borrowed nor make any interest payments. This risk is greater than average where the Fund invests in a bond with a below investment grade credit rating. Currency Risk: The Fund may have holdings which are denominated in different currencies and may be affected by movements in exchange rates. Consequently, the value of the Fund's investment may rise or fall in line with exchange rates. This may also cause the value of any income generated to go up or down. Derivatives Risk: Derivatives may be used for efficient portfolio management only. At times, though the use of these instruments could lead to considerable short term fluctuations in price. The impact to the Fund is greater where derivatives are used in an extensive or complex way. Further details of the risks relating to investment in this Fund can be found in the Prospectus, which is available on request or at our website aberdeen-asset. com Page 1 of 2.

2 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 is an estimate 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). An estimate is used in order to provide the figure that will most likely be charged. The annual report for each financial year will include detail on the exact charges made. The Ongoing Charge figure is as at 31/12/14. Charges taken from the Fund over a year Ongoing charges 0.62% 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: 05/07/2004. Share/unit class launch date: 31/05/2012. Performance is calculated in GBP. Performance is net of charges. * FTSE Actuaries UK Conventional Gilts up to 5 Years Fund Index * Source: FE 2015 Practical information This document describes only one share class and other share classes are available. Information on how to buy, sell and switch shares is available by contacting us (see below). Detailed information about the Fund, including its Prospectus, latest Annual and Half-Yearly reports and current share prices is available at Alternatively, please contact Aberdeen Fund Managers Limited, Freepost RTEU-YTET-HCAA, PO Box 9029, Chelmsford, CM99 2WJ. Telephone: customer.services@aberdeen-asset.com. The documents are available in English only. Aberdeen Investment Funds UK ICVC II offers a range of funds with diversified investment objectives. The Prospectus, Annual and Half-Yearly reports cover all the funds within Aberdeen Investment Funds UK ICVC II. In the unlikely event of one fund having debts, the assets of the other funds may not be used to settle these. The Fund s Authorised Corporate Director is Aberdeen Fund Managers Limited. The tax legislation of the United Kingdom may have an impact on your personal tax position. Aberdeen 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 Fund and Aberdeen Fund Managers Limited are authorised and regulated by the Financial Conduct Authority in the United Kingdom. This Key Investor Information is accurate as at 01/05/ Y Page 2 of 2.

3 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. FTSE 250 Index Fund Accumulation C GB00B80QG052 A sub-fund of HSBC Index Tracker Investment Funds, an open ended investment company ( OEIC ), managed by HSBC Global Asset Management (UK) Limited. Objectives and investment policy To provide long term capital growth by matching the return of the FTSE 250 Index. To invest in companies that make up the FTSE 250 Index. The Fund can use borrowing and may also use a technique known as efficient portfolio management which aims to reduce risk or cost to the fund in circumstances where this is likely to be of benefit. The Fund is currently tracking the index using a near full replication strategy. Income is accumulated and reflected in the price of accumulation shares. You may sell your investment on any business day by contacting the administrator before the dealing deadline. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within 5 years. Risk and reward profile Lower risk Typically lower rewards Higher risk Typically higher rewards More about this rating The rating is based on price volatility over the last five years, and is an indicator of absolute risk. Historical data may not be a reliable indication for the future. The value of an investment, and any income from it, may fall as well as rise, and you may not get back the amount you originally invested.the rating is not guaranteed to remain unchanged and the categorisation may shift over time.the lowest rating does not mean a risk-free investment. Why is this fund in category 6? Equity prices tend to fluctuate more than other asset classes as investors directly participate in underlying companies and their earnings. Material risks not adequately captured by the risk rating above Exchange rate risk Investing in assets denominated in a currency other than that of the investor s own currency perspective exposes the value of the investment to exchange rate fluctuations. Derivative risk The value of derivative contracts is dependent upon the performance of an underlying asset. A small movement in the value of the underlying can cause a large movement in the value of the derivative. Unlike exchange traded derivatives, over-the-counter (OTC) derivatives have credit risk associated with the counterparty or institution facilitating the trade. IndexTracking risk The performance of the Fund may not match the performance of the index it tracks because of stock selection, fees and expenses, market opening times and regulatory constraints. Operational risk The main risks are related to systems and process failures. Investment processes are overseen by independent risk functions which are subject to independent audit and supervised by regulators. Accumulation C GB00B80QG052 1of2

4 Charges for this fund The charges you pay are used to pay the running costs of the fund, including the marketing and distribution costs.these charges reduce the potential growth of the investment. One-off charges taken before or after you invest Entry charge 0.00% Exit charge 0.00% Charges taken from the fund over a year Ongoing charge 0.17% Charges taken from the fund under certain specific conditions Performance fee The Entry and Exit charges shown are the maximum that may be charged. In some cases you may pay less.you can obtain the actual charges from your financial adviser. The ongoing charges figure is based on last year s expenses for the year ending 15/11/2014. Charges may vary from year to year. Further information on Charges can be found in the Fees and Expenses section of the full Prospectus. Past performance 75% 50% 25% 0% -25% -50% Fund Benchmark Warning: the performance returns before the change to charges on 01/09/2009 were achieved under circumstances that no longer apply. Past performance is not a guide to future performance; the value of your investment and any income from it can go down as well as up. The past performance of this share class is calculated in GBP. Performance returns are based on the net asset value with distributable income reinvested. Past performance takes account of all ongoing charges, but not entry and exit charges. The fund was launched on 07/10/1997. The investment benchmark for the fund is the FTSE 250 Gross. Performance returns prior to the first share class price date of 03/09/2012 have been simulated using the track record of an older share class Practical information Depositary State StreetTrustees Limited, 525 Ferry Road, Edinburgh, EH5 2AW. Further information Further information about the OEIC including the latest Prospectus, latest published prices of shares, annual report and half yearly report may be obtained free of charge, in English, from the administrator, HSBC GlobalAsset Management (UK) Limited, PO Box 6189, Coventry, CV3 9HS or by visiting most recent Prospectus is available in English.This document describes a single share class of the OEIC. The Prospectus, annual and half yearly reports are prepared for the entire OEIC. Share classes Other share classes are available, as detailed in the Prospectus. It is possible to convert your shares into a different share class or switch your shares into a different Fund within the OEIC. Details of how to do this are in the Prospectus (please note an initial charge may apply). Tax UK tax legislation may have an impact on your personal position. Authorised Corporate Director HSBC Global Asset Management (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 OEIC. Allocation of Assets and Liabilities The OEIC is an umbrella investment company with segregated liability between sub-funds. This means that the holdings of one sub-fund are kept separate from the holdings of the other sub-funds and your investment in the Fund cannot be used to pay the liabilities of any other sub-fund. Authorisations The Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. HSBC Global Asset Management (UK) Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Publication date This key investor information is accurate as at 19 February Accumulation C GB00B80QG052 2of2

5 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. Pacific Index Fund Accumulation C GB00B80QGT40 A sub-fund of HSBC Index Tracker Investment Funds, an open ended investment company ( OEIC ), managed by HSBC Global Asset Management (UK) Limited. Objectives and investment policy To provide long term capital growth by matching the return of the FTSE World Pacific excluding Japan Index. To invest in companies that make up the FTSEWorld Pacific excluding Japan Index. The Fund can use borrowing and may also use a technique known as efficient portfolio management which aims to reduce risk or cost to the fund in circumstances where this is likely to be of benefit. The Fund is currently tracking the index using a full replication strategy. Income is accumulated and reflected in the price of accumulation shares. You may sell your investment on any business day by contacting the administrator before the dealing deadline. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within 5 years. Risk and reward profile Lower risk Typically lower rewards Higher risk Typically higher rewards More about this rating The rating is based on price volatility over the last five years, and is an indicator of absolute risk. Historical data may not be a reliable indication for the future. The value of an investment, and any income from it, may fall as well as rise, and you may not get back the amount you originally invested.the rating is not guaranteed to remain unchanged and the categorisation may shift over time.the lowest rating does not mean a risk-free investment. Why is this fund in category 6? Emerging markets are at an early stage of development and typically experience higher levels of return fluctuation than well-established economies. Political and economic challenges may temporarily result in illiquid markets and higher volatility in prices and currencies. Material risks not adequately captured by the risk rating above Exchange rate risk Investing in assets denominated in a currency other than that of the investor s own currency perspective exposes the value of the investment to exchange rate fluctuations. Emerging market risk Emerging economies typically exhibit higher levels of investment risk. Markets are not always well regulated or efficient and investments can be affected by reduced liquidity. Derivative risk The value of derivative contracts is dependent upon the performance of an underlying asset. A small movement in the value of the underlying can cause a large movement in the value of the derivative. Unlike exchange traded derivatives, over-the-counter (OTC) derivatives have credit risk associated with the counterparty or institution facilitating the trade. IndexTracking risk The performance of the Fund may not match the performance of the index it tracks because of fees and expenses, market opening times and regulatory constraints. Operational risk The main risks are related to systems and process failures. Investment processes are overseen by independent risk functions which are subject to independent audit and supervised by regulators. Accumulation C GB00B80QGT40 1of2

6 Charges for this fund The charges you pay are used to pay the running costs of the fund, including the marketing and distribution costs.these charges reduce the potential growth of the investment. One-off charges taken before or after you invest Entry charge 0.00% Exit charge 0.00% Charges taken from the fund over a year Ongoing charge 0.21% Charges taken from the fund under certain specific conditions Performance fee The Entry and Exit charges shown are the maximum that may be charged. In some cases you may pay less.you can obtain the actual charges from your financial adviser. The ongoing charges figure is based on last year s expenses for the year ending 15/11/2014. Charges may vary from year to year. Further information on Charges can be found in the Fees and Expenses section of the full Prospectus. Past performance 75% 50% 25% 0% -25% -50% Fund Benchmark Warning: the performance returns before the change to charges on 01/09/2009 were achieved under circumstances that no longer apply. Past performance is not a guide to future performance; the value of your investment and any income from it can go down as well as up. The past performance of this share class is calculated in GBP. Performance returns are based on the net asset value with distributable income reinvested. Past performance takes account of all ongoing charges, but not entry and exit charges. The fund was launched on 20/11/1998. The investment benchmark for the fund is the FTSE World Asia Pacific ex Japan Gross. Performance returns prior to the first share class price date of 03/09/2012 have been simulated using the track record of an older share class Practical information Depositary State StreetTrustees Limited, 525 Ferry Road, Edinburgh, EH5 2AW. Further information Further information about the OEIC including the latest Prospectus, latest published prices of shares, annual report and half yearly report may be obtained free of charge, in English, from the administrator, HSBC GlobalAsset Management (UK) Limited, PO Box 6189, Coventry, CV3 9HS or by visiting most recent Prospectus is available in English.This document describes a single share class of the OEIC. The Prospectus, annual and half yearly reports are prepared for the entire OEIC. Share classes Other share classes are available, as detailed in the Prospectus. It is possible to convert your shares into a different share class or switch your shares into a different Fund within the OEIC. Details of how to do this are in the Prospectus (please note an initial charge may apply). Tax UK tax legislation may have an impact on your personal position. Authorised Corporate Director HSBC Global Asset Management (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 OEIC. Allocation of Assets and Liabilities The OEIC is an umbrella investment company with segregated liability between sub-funds. This means that the holdings of one sub-fund are kept separate from the holdings of the other sub-funds and your investment in the Fund cannot be used to pay the liabilities of any other sub-fund. Authorisations The Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. HSBC Global Asset Management (UK) Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Publication date This key investor information is accurate as at 19 February Accumulation C GB00B80QGT40 2of2

7 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. LEGAL & GENERAL ALL STOCKS GILT INDEX TRUST M CLASS ACCUMULATION ISIN: GB , DISTRIBUTION ISIN: GB This fund is managed by Legal & General (Unit Trust Managers) Limited. OBJECTIVES AND INVESTMENT POLICY The objective of this fund is to provide a combination of income and growth (if the income is reinvested) by tracking the performance of the FTSE Actuaries British Government All Stocks Index. The fund will invest in bonds (a type of loan which pays interest). The fund's investments will closely match those that make up the Index. This Index consists of bonds which are issued by the UK Government (known as gilts). The gilts that the fund invests in will be investment grade bonds (rated as lower risk). Investment grade bonds are bonds that have achieved a higher credit rating from a rating agency. Credit ratings give an indication of how likely it is that the issuer of a bond will be able to pay back interest and the loan on time. 35% or more of the fund can be invested in bonds issued by the UK Government. The fund may use derivatives (contracts which have a value linked to the price of another asset) for the following purposes: RISK AND REWARD PROFILE Lower risk Potentially lower rewards Higher risk Potentially higher rewards This risk and reward indicator is based on historical data which may not be a reliable indication of the fund's risk and reward category in the future. The category is based on the rate at which the value of the fund has moved up and down in the past. This fund is in category 4 because it invests in investment grade bonds which generally provide lower rewards and lower risks than other investments such as sub-investment grade bonds or company shares. The fund's category is not guaranteed to remain the same and may change over time. Even a fund in the lowest category is not a risk free investment. The value of your investment and any income you take from it may fall as well as rise and is not guaranteed. You might get back less than you invest. To help with efficient day to day management. To reduce some of the risks of the market. If you hold accumulation units, income from investments held by the fund (interest) will be reinvested into the value of your units. If you hold distribution units, income from investments held by the fund will be paid out to you (as interest). You can buy or sell units in this fund on any working day. You need to contact us with your instruction before 12 noon. This is the time we calculate unit prices for this fund. If you contact us after 12 noon, the units will be bought or sold at the next working day's price. This fund may not be appropriate for investors who plan to withdraw their money within five years. The indicator opposite does not take account of the following risks of investing in the fund: Investment returns on bonds are particularly sensitive to trends in interest rate movements and inflation. Fund values are likely to fall when interest rates rise. Such falls may be more pronounced in a low interest rate environment. If you take an income from your investment this will reduce the potential for future growth. We will take part of the ongoing charges from the fund's capital rather than the fund's income. This increases the amount of income you may be paid, but it reduces the growth potential and may lead to a fall in the value of the fund. If you use your right to cancel your investment, you may not get a full refund if the value of your investment falls before we carry out your instruction. This fund invests almost exclusively in bonds issued by the UK Government. If the UK Government experiences financial difficulty, it may be unable to pay back some or all of the interest, original investment or other payments that it owes. If this happens, the value of your fund may fall. This fund holds bonds that, rather than being traded on a stock exchange, are traded through brokers or investment banks matching buyers and sellers. In times of market uncertainty it may become less easy to buy and sell these investments. If this happens, the value of your fund may fall.

8 CHARGES FOR THIS FUND 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 return from your investment. The entry and exit charges shown are maximum figures. In some cases (including when switching to other funds managed by us) you might pay less - you can find out the actual figures from us or your financial adviser. The ongoing charges figure is based on the latest available expenses at December This figure may change in the future. Ongoing charges exclude the costs associated with buying and selling the underlying investments of the fund. This fund s ongoing charges include any charges made by any other funds it may invest in. For more information about charges, including any performance fee and how it is calculated, please see the charges and expenses and, where relevant, the performance fee section in the fund s Prospectus. You can also find information about charges at legalandgeneral.com/chargesandfees ONE-OFF CHARGES TAKEN BEFORE OR AFTER YOU INVEST Entry charge Exit charge 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 0.15% CHARGES TAKEN FROM THE FUND UNDER CERTAIN SPECIFIC CONDITIONS Performance fee PAST PERFORMANCE (return %) Past performance is not a guide to future performance. The figures take into account all charges except any entry charge, and assume income (before tax) is reinvested. The performance has been calculated in Sterling (British pounds). The annual return is for a 12 month period ending 31 December. The fund came into existence in This unit class was renamed M on 19 December (year) The index figures assume gross income is reinvested. Fund Index PRACTICAL INFORMATION TRUSTEE FURTHER INFORMATION UNIT PRICES AND OTHER PRACTICAL INFORMATION TAX The trustee is National Westminster Bank Plc. You can find further information about the fund in its Prospectus and latest annual and half-yearly reports. A Guide to Investing with Us gives further information about investing generally. These documents are available from: Legal & General Investments, PO Box 6080, Wolverhampton WV1 9RB. We will provide documents free of charge and in English. This is a single quoted dual priced fund. On any day, the prices for buying or selling units are the same. However, to reflect our costs, there are maximum and minimum prices we can charge for units, depending on whether money is coming into or leaving the fund. From day to day we will move the unit price between these prices as necessary. The difference between the maximum and minimum prices is the spread. The size of the spread can change daily and depends on the type of fund. The spread is separate to the charges detailed above. The spread for this fund was 0.10% as at 31 December You can get other practical information, including the latest buying and selling prices, spreads and details of any other unit classes that are available, by calling us on Monday to Friday between 8.30am and 6.00pm. Call charges will vary. You can also find prices at legalandgeneral.com/utprices and details of how we price units in A Guide to Investing with Us. UK tax legislation may have an impact on your personal tax position. Legal & General (Unit Trust 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. This fund is authorised in the UK and regulated by the Financial Conduct Authority. This key investor information is accurate as at 16 February 2015.

9 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. LEGAL & GENERAL ALL STOCKS INDEX LINKED GILT INDEX TRUST M CLASS ACCUMULATION ISIN: GB , DISTRIBUTION ISIN: GB This fund is managed by Legal & General (Unit Trust Managers) Limited. OBJECTIVES AND INVESTMENT POLICY The objective of this fund is to provide a combination of income and growth (if the income is reinvested) by tracking the performance of the FTSE Actuaries British Government Index- Linked All Stocks Index. The fund will invest between 70% and 100% in bonds (a type of loan which pays interest) issued by the UK government (known as gilts). The fund's investments will closely match those that make up the Index. This Index consists of indexlinked bonds which are issued by the UK Government. The return from these bonds is linked to changes in the rate of UK inflation. The gilts that the fund invests in will be investment grade bonds (rated as lower risk). Investment grade bonds are bonds that have achieved a higher credit rating from a rating agency. Credit ratings give an indication of how likely it is that the issuer of a bond will be able to pay back interest and the loan on time. 35% or more of the fund can be invested in bonds issued by the UK Government. RISK AND REWARD PROFILE Lower risk Potentially lower rewards Higher risk Potentially higher rewards This risk and reward indicator is based on historical data which may not be a reliable indication of the fund's risk and reward category in the future. The category is based on the rate at which the value of the fund has moved up and down in the past. This fund is in category 4 because it invests in investment grade bonds which generally provide lower rewards and lower risks than other investments such as sub-investment grade bonds or company shares. The fund's category is not guaranteed to remain the same and may change over time. Even a fund in the lowest category is not a risk free investment. The value of your investment and any income you take from it may fall as well as rise and is not guaranteed. You might get back less than you invest. The fund may use derivatives (contracts which have a value linked to the price of another asset) for the following purposes: To help with efficient day to day management. To reduce some of the risks of the market. If you hold accumulation units, income from investments held by the fund (interest) will be reinvested into the value of your units. If you hold distribution units, income from investments held by the fund will be paid out to you (as interest). You can buy or sell units in this fund on any working day. You need to contact us with your instruction before 12 noon. This is the time we calculate unit prices for this fund. If you contact us after 12 noon, the units will be bought or sold at the next working day's price. This fund may not be appropriate for investors who plan to withdraw their money within five years. The indicator opposite does not take account of the following risks of investing in the fund: Investment returns on bonds are particularly sensitive to trends in interest rate movements and inflation. Fund values are likely to fall when interest rates rise. Such falls may be more pronounced in a low interest rate environment. If you take an income from your investment this will reduce the potential for future growth. We will take part of the ongoing charges from the fund's capital rather than the fund's income. This increases the amount of income you may be paid, but it reduces the growth potential and may lead to a fall in the value of the fund. If you use your right to cancel your investment, you may not get a full refund if the value of your investment falls before we carry out your instruction. This fund invests almost exclusively in bonds issued by the UK Government. If the UK Government experiences financial difficulty, it may be unable to pay back some or all of the interest, original investment or other payments that it owes. If this happens, the value of your fund may fall. This fund holds bonds that, rather than being traded on a stock exchange, are traded through brokers or investment banks matching buyers and sellers. In times of market uncertainty it may become less easy to buy and sell these investments. If this happens, the value of your fund may fall.

10 CHARGES FOR THIS FUND 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 return from your investment. The entry and exit charges shown are maximum figures. In some cases (including when switching to other funds managed by us) you might pay less - you can find out the actual figures from us or your financial adviser. The ongoing charges figure is based on the latest available expenses at December This figure may change in the future. Ongoing charges exclude the costs associated with buying and selling the underlying investments of the fund. This fund s ongoing charges include any charges made by any other funds it may invest in. For more information about charges, including any performance fee and how it is calculated, please see the charges and expenses and, where relevant, the performance fee section in the fund s Prospectus. You can also find information about charges at legalandgeneral.com/chargesandfees ONE-OFF CHARGES TAKEN BEFORE OR AFTER YOU INVEST Entry charge Exit charge 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 0.15% CHARGES TAKEN FROM THE FUND UNDER CERTAIN SPECIFIC CONDITIONS Performance fee PAST PERFORMANCE (return %) (year) Past performance is not a guide to future performance. The figures take into account all charges except any entry charge, and assume income (before tax) is reinvested. The performance has been calculated in Sterling (British pounds). The annual return is for a 12 month period ending 31 December. The fund came into existence in This unit class was renamed M on 19 December The index figures assume gross income is reinvested. Fund Index PRACTICAL INFORMATION TRUSTEE FURTHER INFORMATION UNIT PRICES AND OTHER PRACTICAL INFORMATION TAX The trustee is National Westminster Bank Plc. You can find further information about the fund in its Prospectus and latest annual and half-yearly reports. A Guide to Investing with Us gives further information about investing generally. These documents are available from: Legal & General Investments, PO Box 6080, Wolverhampton WV1 9RB. We will provide documents free of charge and in English. This is a single quoted dual priced fund. On any day, the prices for buying or selling units are the same. However, to reflect our costs, there are maximum and minimum prices we can charge for units, depending on whether money is coming into or leaving the fund. From day to day we will move the unit price between these prices as necessary. The difference between the maximum and minimum prices is the spread. The size of the spread can change daily and depends on the type of fund. The spread is separate to the charges detailed above. The spread for this fund was 0.13% as at 31 December You can get other practical information, including the latest buying and selling prices, spreads and details of any other unit classes that are available, by calling us on Monday to Friday between 8.30am and 6.00pm. Call charges will vary. You can also find prices at legalandgeneral.com/utprices and details of how we price units in A Guide to Investing with Us. UK tax legislation may have an impact on your personal tax position. Legal & General (Unit Trust 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. This fund is authorised in the UK and regulated by the Financial Conduct Authority. This key investor information is accurate as at 16 February 2015.

11 UK SMALLER COMPANIES FUND KEY INVESTOR INFORMATION DOCUMENT Objectives and Investment Policy 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. Liontrust UK Smaller Companies Fund is an Authorised Unit Trust and categorised as a UCITS scheme. This document is based upon retail class units (R Class) (ISIN: GB ) and institutional class units (I Class) (ISIN: GB00B57TMD12). This Fund is managed by Liontrust Fund Partners LLP, a subsidiary of Liontrust Asset Management PLC. Objective: Capital growth Policy: The Fund invests at least 80% in securities of smaller capitalised companies (equities) traded on the UK and Irish stock exchanges. When a company grows to become a mid cap stock and is included in the FTSE 250 index, the holding will remain in the Fund until a suitable replacement is found. You may buy or sell units on a daily basis (but not weekends or Bank Holidays). Orders are executed at noon. Income arising from the Fund s investments may either be paid to you or reinvested in the Fund. More Information: The selection of the Fund s investments is determined by the following expectations: Companies which are expected to demonstrate special characteristics which are distinct and difficult to replicate by their competitors. Risk and Reward Profile Lower Risk Typically lower rewards These special characteristics may be determined by companies demonstrating: protected intellectual property rights; strong distribution networks; high levels of recurring income; companies which are likely to survive a downturn but prosper when the market turns. Highly profitable companies which are expected to be re-rated by the market. Companies where the managers are properly motivated through director equity ownership. The portfolio will comprise both growth and value companies as appropriate. The minimum recommended holding period of the Fund is at least 5 years. Further details may be found in the prospectus and information on the investment process may be found at FundRange Higher Risk Typically higher rewards The indicator is based upon historical data and may not be relied upon to gauge the future risk profile of the Fund. The risk and reward indicator shown is not guaranteed and may shift over time. The lowest category (1) does not mean risk free. The Fund s risk and reward category has been calculated using the methodology set by the European Commission. It is based upon the rate by which the Fund s value has moved up and down in the past. The Fund is categorised 5 primarily for its exposure to securities (equity) of smaller UK companies. For full details of the Fund s risks, please see the prospectus which may be obtained from the address in Practical Information overleaf or online at The risk and reward indicator does not take into account the following Fund risks: That a company may fail thus reducing its value within the Fund. Any company which has high overseas earnings may carry a higher currency risk as for valuation purposes, local receipts may require conversion into the currency of the Fund, which is pounds sterling. Because the Fund is primarily exposed to smaller companies there may be liquidity constraints from time to time. In addition the spread between the price you buy and sell units will reflect the less liquid nature of the underlying holdings. The Fund may, under certain circumstances, make use of derivative instruments but it is not intended that their use will materially affect volatility.

12 UK SMALLER COMPANIES FUND Charges for this Fund 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 (R) 5% (I) 0% Exit charge This is the maximum that might be taken out of your money before it is invested. Charges taken from the Fund over the year Ongoing charges (R) 1.63% (I) 1.38% Charges taken from the Fund under certain specific circumstances Performance fee 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. The ongoing charges figure is based on expenses for the year ending 31 December 2014 (R Class) and since launch (I Class). This figure may vary from year to year. It excludes: Performance fees. Portfolio transaction costs, except in the case of an entry/exit charge paid by the UCITS when buying or selling units in another collective investment undertaking. For more information about charges, please see clause 25 of the Fund s prospectus, which is available electronically at co.uk/literature/downloadliterature Past Performance Past performance is not a guide to future performance. All charges, except the entry charge, have been included in the performance calculations. The Fund was launched on 8 January 1998, the I Class was launched on 28 January The performance graph illustrated represents the R Class and as the I Class is in existence for less than one discrete year there is insufficient data available to demonstrate its performance. Performance has been calculated in the currency of the Fund which is pounds sterling. Past performance has been calculated on the basis that any distributable income of the Fund has been reinvested. 50% 40% 30% 20% 10% 00% -10% -20% -30% -40% -40% 20.1% 10.6% -05.8% -27.5% 41.6% 27.7% 1.5% 33.9% 30.2% 4.4% 4.1% UK Smaller Companies Fund (R) UK Smaller Companies Fund (R) UK Smaller Companies Fund (I) Practical Information Authorisation Trustee Further Information Taxation Fund Prices and other information This Fund is authorised in the UK and regulated by the Financial Conduct Authority The Fund s Trustee is State Street Trustees Limited Copies of the Fund s prospectus and the latest annual and half-yearly Fund reports, which are the primary source of additional information, are available, without charge, from Liontrust Fund Partners LLP, 2 Savoy Court, London WC2R 0EZ. They are also available electronically at UK tax legislation may have an impact upon your own personal tax position The Fund s last published price is available from Liontrust Fund Partners LLP at or by writing to us at 2 Savoy Court, London WC2R 0EZ or by telephoning during business hours (9.00am 5.30pm) Liontrust Fund Partners LLP 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. This Key Investor Information is accurate as at 16 February 2015.

13 Non-UCITS retail scheme 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 Feeder of Property Portfolio Sterling Class I Income shares ISIN no. GB00B842HT59 Sterling Class I Accumulation shares ISIN no. GB00B7SX7S61 Managed by M&G Securities Limited, which is part of the Prudential Group Objective and investment policy Objective Income and growth. Investment policy To invest close to 100% in the M&G Property Portfolio, a Property Authorised Investment Fund. The objective of the M&G Property Portfolio is income and growth, and its investment policy is to invest at least 70% in UK commercial property. The investment returns of the Fund and the M&G Property Portfolio may differ because the Fund may hold cash for operational reasons. 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. Risk and reward profile The value of 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. The fund manager will place transactions, hold positions and place cash on deposit with a range of eligible persons or institutions (a counterparty ). There is a risk that a counterparty may default on its obligations or become insolvent, which may have a negative impact on the value of the Fund. As the Fund is dual priced, there is a price to buy units and a price to sell them. The difference between the two prices is called the spread. The spread is likely to be wider for the Fund than for other less specialist funds and may vary. We reserve the right to change the pricing basis of the Fund and any change will mean an increase or decrease in the price at which you deal. The following are additional risks that apply to the M&G Property Portfolio: Property investments can be harder to buy and sell when compared to investments in fixed income securities and shares. There is no guarantee that investments in property will increase in value or that rental growth will take place. There is a risk that a property held in the Fund s portfolio could default on its rental payments. If significant numbers of investors withdraw their investments from the Fund at the same time, the manager may be forced to dispose of property investments. This may result in a less than favourable price being obtained in the market. The Fund invests mainly in one type of asset. It is therefore more vulnerable to the market sentiment of that specific type of asset. 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. There is the possibility that a portion of the portfolio will be held in cash if the supply of new investment opportunities is limited which, if the situation persists, may restrict the performance of the Fund. Property valuations are provided by an independent valuer and are therefore subjective. The Fund can invest in international property which means that it will be impacted by currency exchange rate fluctuations UK K1 FOPP GBP I EN UK An investment in the Fund may be linked to those risks normally associated with an investment in company shares or fixed income securities (investments which provide a certain level of income or interest). All of the above factors could have an adverse effect on the value of your investment. A more detailed description of the risk factors that apply to the Fund can be found in the Fund s Prospectus.

14 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 2.00% 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 1.23% Charges taken from the Fund under certain specific conditions Performance fee 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 30 September 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 % (5.0) (10.0) (15.0) (20.0) (25.0) 2005 Fund (12.9) (20.2) Past performance is not a guide to future performance. The past performance calculation is inclusive of UK taxes. It 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 18 January The Sterling Class I Accumulation share class and Sterling Class I Income share class launched on 18 January M&G Feeder of Property Portfolio Sterling Class I shares do not have 10 complete years of past performance information available as they launched on 18 January Therefore, past performance information for M&G Property Portfolio Sterling Class S units (a unit trust which commenced termination on 18 January 2013) has been used for the period shown prior to this date For more information on charges, please refer to the relevant sections of the Prospectus which can be found by visiting Practical information The trustee is National Westminster Bank plc. For further information about this Fund, please visit where you can obtain a copy of the Prospectus, 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. Other share classes may exist for the Fund as set out in the relevant Prospectus UK K1 FOPP GBP I EN UK 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 13 February 2015.

15 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. Standard Life Investments Global Absolute Return Strategies Fund, a Sterling denominated unit trust, Institutional "S" Accumulation Units (ISIN:GB00BBX46076). This fund is managed by Standard Life Investments (Mutual Funds) Limited. Objectives and Investment Policy The Standard Life Investments Global Absolute Return Strategies Fund aims to provide positive investment returns in all market conditions over the medium to long term. The fund is actively managed, with a wide investment remit to target a level of return over rolling three-year periods equivalent to cash plus five per-cent a year, gross of fees. It exploits market inefficiencies through active allocation to a diverse range of market positions. The fund uses a combination of traditional assets (such as equities and bonds) and investment strategies based on advanced derivative techniques, resulting in a highly diversified portfolio. The fund can take long and short positions in markets, securities and groups of securities through derivative contracts. Risk and Reward Profile Lower risk Typically lower rewards This indicator reflects the volatility of the fund's share price over the last five years which in turn reflects the volatility of the underlying assets in which the fund invests. Historical data may not be a reliable indication for the future. As the fund does not have a history of five years, a comparable fund or a representative benchmark has been used to show how the fund's share price may have behaved over the period. The current rating is not guaranteed and may change if the volatility of the assets in which the fund invests changes. The lowest rating does not mean risk free. Higher risk Typically higher rewards The fund is rated as {4} because of the extent to which the following risk factors apply: (a) The fund invests in securities which are subject to the risk that the issuer may default on interest or capital payments. (b) The fund price can go up or down daily for a variety of reasons including changes in interest rates, inflation expectations or the perceived credit quality of individual countries or securities. (c) The fund invests in equities and equity related securities. These are sensitive to variations in the stock markets which can be volatile and change substantially in short periods of time. The fund will use derivatives extensively to reduce risk or cost or to generate additional capital or income at low risk, or to meet its investment objective. Usage of derivatives is monitored to ensure that the fund is not exposed to excessive or unintended risks. Any income, for example dividend income, received by the fund will be reinvested. Investors in the fund may buy and sell shares on any normal business day. Recommendation: the fund may not be appropriate for investors who plan to withdraw their money within five years. Investors should satisfy themselves that their attitude to risk aligns with the risk profile of this fund before investing. (d) The fund may invest in emerging market equities and / or bonds. Investing in emerging markets involves a greater risk of loss than investing in more developed markets due to, among other factors, greater political, tax, economic, foreign exchange, liquidity and regulatory risks. (e) Investing in derivatives carries the risk of substantial loss and / or increased volatility in adverse market conditions. The fund makes extensive use of derivatives, certain types of which may become difficult to purchase or sell in such market conditions. (f) The fund invests in high yielding bonds which carry a greater risk of default than those with lower yields. All investment involves risk. This fund offers no guarantee against loss or that the fund's objective will be attained. Past performance is not a guide to future returns and future returns are not guaranteed. The price of shares and the income from them may go down as well as up and cannot be guaranteed; an investor may receive back less than their original investment. Inflation reduces the buying power of your investment and income. The value of assets held in the fund may rise and fall as a result of exchange rate fluctuations. The fund could lose money if an entity (counterparty) with which it does business becomes unwilling or unable to honour its obligations to the fund. In extreme market conditions some securities may become hard to value or sell at a desired price. The fund could lose money as the result of a failure or delay in operational processes.

16 Charges The charges you pay are used to pay the costs of running the fund including 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% This is the maximum that might be taken out of your money before it is invested/before the proceeds of your investment are paid out. Charges taken from the fund over a year Ongoing charges: 0.72% Charges taken from the fund under certain specific conditions Performance Fees: Past Performance Standard Life Investments Global Absolute Return Strategies Fund, Institutional "S" Accumulation Units, 31 December 2014 % Returns 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. The ongoing charges figure reflects the amount based on expenses for the year ending 31/3/2014. 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 in another collective investment undertaking. For more information about charges, please see the Prospectus which is available at Performance has been calculated over the stated period based on the unit price of this unit class. Past performance is not a guide to future performance The fund was launched in The unit class was launched in The performance of the unit class is calculated in Sterling Year Source: Standard Life Investments Practical Information Name of Trustee: Citibank International Limited, Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB. Further information about the Global Absolute Return Strategies Fund (Prospectus, report & accounts) can be found at where documents may be obtained free of charge. Other practical information (e.g. where to find latest unit prices) can be found in documents held at Prospective investors should consult their own professional advisers on the potential tax consequences of acquiring, holding or selling units. Standard Life Investments (Mutual 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 for the Standard Life Investments Global Absolute Return Strategies Fund. Other unit classes may be available in the fund and further information about these can be found in the Prospectus. This document is specific to the fund and unit class stated at the beginning of this document. However, the Prospectus, annual and half-yearly reports are prepared for the entire fund. The Standard Life Investments Global Absolute Return Strategies Fund and Standard Life Investments (Mutual Funds) Limited are authorised in the United Kingdom and regulated by the Financial Conduct Authority. This Key Investor Information is accurate at 8/1/2015 Standard Life Investments Limited is registered in Scotland (SC123321) at 1 George Street Edinburgh EH2 2LL and is authorised and regulated by the Financial Conduct Authority. KIID_U222_38_Acc_N_GBP_GB_EN_

17 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. Pound Sterling Accumulation Shares of Vanguard Emerging Markets Stock Index Fund (the "Fund"), a subfund of Vanguard Investment Series Plc (ISIN: IE00B50MZ724) The Fund is managed by Vanguard Group (Ireland) Limited ( VGIL ), part of the Vanguard group of companies. Objectives and investment policy 2 The Fund seeks to track the performance of the MSCI Emerging Markets Index (the Index ). 2 The Index includes stocks of companies in global emerging markets. 2 The Fund attempts to: 1. Track the Index by investing through physical acquisition, in a representative sample of the securities that make up the Index. 2. Remain fully invested and hold small amounts of cash except in extraordinary market, political or similar conditions where the Fund may temporarily depart from this investment policy. 2 The Fund may invest in financial derivative instruments that could increase or reduce exposure to underlying assets and result in greater fluctuations of the Fund's Net Asset Value. Some derivatives give rise to increased potential for loss where the Fund's counterparty defaults in meeting its payment obligations. 2 The Fund invests in securities which are denominated in multiple currencies. Movements in currency exchange rates can affect the return of investments. 2 This Fund may not be appropriate for investors who plan to withdraw their money within 5 years. 2 Income from the Fund will be reinvested and reflected in the price of shares in the Fund. 2 Shares in the Fund can be sold on a daily basis (save on certain bank holidays or public holidays and subject to certain restrictions described in Appendix 1 of the Prospectus) by submitting an application in writing or by telephone before 16:00 (Irish time) on the business day prior to the relevant dealing day, or, where you hold shares with a platform, by submitting an application seeking the sale of your shares before the dealing cut-off time of the respective platform, provided this is before the dealing cut-off time for the Fund. A full list of the days on which Shares in the Fund cannot be sold is available on For further information about the objectives and investment policy of the Fund, as well as the limited relationship with the Index provider, please see Appendix 1 and Appendix 6 of the Vanguard Investment Series plc prospectus (the Prospectus ) on our website at Risk and reward profile Lower risk Typically lower rewards Higher risk Typically higher rewards This indicator is based on historical data and may not be a reliable indication of the future risk profile of the Fund. 2 The risk category shown is not guaranteed and may change over time. 2 The lowest category does not mean risk free. 2 The Fund is rated 6 due to the nature of its investments which include the risks listed below. These factors may impact the value of the Fund's investments or expose the Fund to losses. - The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. - Movements in currency exchange rates can adversely affect the return of your investment. - Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity risk', restrictions on investment or transfer of assets and failed/delayed delivery of securities or payments to the Fund. The risk and reward indicator does not take account of the following risks of investing in the Fund: 2 Counterparty risk. The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Fund to financial loss. 2 Liquidity risk. Lower liquidity means there are insufficient buyers or sellers to allow the Fund to sell or buy investments readily. 2 Index tracking risk. The Fund is not expected to track the performance of the Index at all times with perfect accuracy. The Fund is, however, expected to provide investment results that, before expenses, generally correspond to the price and yield performance of the Index. For further information on risks please see the Risk Factors section of the Prospectus on our website at

18 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 Investors can find out the actual entry and exit charges from their financial adviser. Entry charge Exit charge The ongoing charges figure is based on expenses for the year ended 31 December This figure may vary from year to year. It excludes portfolio transaction costs. This is the maximum that might be taken out of your money before it is invested / before the proceeds of your investment are paid out. Charges taken from the fund over a year Ongoing charges 0.27% Charges taken from the fund under certain specific conditions Performance fee For further information about charges, please see the sections entitled Buying Shares, Redeeming Shares,"Anti-Dilution Levy", Fees and Expenses and Appendix 1 of the Prospectus on our website at Past performance Per cent (%) 2 Past performance: 1. Is not a reliable indication of future performance. 2. Includes ongoing charges and the reinvestment of income. It excludes entry and exit fees. 3. Has been calculated in GBP. 2 Shares in the Fund were first issued in This Share class was launched in Fund Index Practical information 2 The Fund's custodian is J.P. Morgan Bank (Ireland) plc. 2 You can obtain copies of the Prospectus and the latest annual and semi-annual report and accounts for Vanguard Investment Series plc ( VIS ), along with the latest published prices of shares and other information on the Fund, free of charge from Vanguard Investment Series plc c/o J.P. Morgan Administration Services (Ireland) Limited, JPMorgan House, International Financial Services Centre, Dublin 1, Ireland (tel ) or from our website at These documents are available in English only. 2 VIS is an umbrella fund with segregated liability between sub-funds. This means that the holdings of the Fund are maintained separately under Irish law from holdings of other sub-funds of VIS and your investment in the Fund will not be affected by any claims against any other sub-fund of VIS. 2 You may exchange your shares in the Fund for shares in any other sub-funds of VIS. An entry charge may apply. Details of switching are provided in the Prospectus. 2 Irish tax legislation may have an impact on your personal tax position. You are recommended to consult your professional tax adviser. 2 VGIL 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 this UCITS. 2 The Fund is not sponsored, endorsed or promoted by MSCI and MSCI bears no liability with respect to the Fund or the Benchmark. For more information, see the Prospectus. The Fund is authorised in Ireland and regulated by the Central Bank of Ireland (the Central Bank ). VGIL is authorised in Ireland and regulated by the Central Bank. This key investor information is accurate as at 17/02/2015.

19 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. A GBP Accumulation Shares of Vanguard FTSE Developed Europe ex-u.k. Equity Index Fund (the "Fund"), a subfund of Vanguard Investments Funds ICVC (ISIN: GB00B5B71H80) The Fund is managed by Vanguard Investments UK, Limited ("VIUK"), part of the Vanguard group of companies. Objectives and investment policy 2 The Fund seeks to track the performance of the FTSE Developed Europe ex-u.k. Index (the Index ). 2 The Index includes large and mid-capitalization common stocks from across developed European markets, excluding the U.K. 2 The Fund attempts to: 1. Replicate the Index by investing through physical acquisition in all, or substantially all, of the component securities of the Index, holding each in approximately the same proportion as the weighting in the Index. 2. Remain fully invested and hold small amounts of cash except in extraordinary market, political or similar conditions where the Fund may temporarily depart from this investment policy. 2 The Fund may invest in financial derivative instruments that could increase or reduce exposure to underlying assets and result in greater fluctuations of the Fund's net asset value. Some derivatives give rise to increased potential for loss where the Fund's counterparty defaults in meeting its payment obligations. 2 The Fund invests in securities which are denominated in multiple currencies. Movements in currency exchange rates can affect the return of investments. 2 This Fund may not be appropriate for investors who plan to withdraw their money within 5 years. 2 Income from the Fund will be reinvested and reflected in the price of shares in the Fund. 2 Shares in the Fund can be sold on a daily basis when the London Stock Exchange is open (subject to certain restrictions described in Appendix 1 of the Prospectus) by submitting an application in writing or by telephone before 12:00 noon (London time) or, where you hold shares with a platform, by submitting an application seeking the sale of your shares before the dealing cut-off time of the respective platform, provided that this is before the dealing cut-off time for the Fund. A full list of the days on which Shares in the Fund cannot be sold is available on For further information about the objectives and investment policy of the Fund, and Vanguard's limited relationship with the Index provider, please see Appendix 1 and the Disclaimers section of the Vanguard Investments Funds ICVC prospectus (the Prospectus ) on our website at Risk and reward profile Lower risk Typically lower rewards Higher risk Typically higher rewards This indicator is based on historical data and may not be a reliable indication of the future risk profile of the Fund. 2 The risk category shown is not guaranteed and may change over time. 2 The lowest category does not mean risk free. 2 The Fund is rated 6 due to the nature of its investments which include the risks listed below. These factors may impact the value of the Fund's investments or expose the Fund to losses. - The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. - Movements in currency exchange rates can adversely affect the return of your investment. - Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political or regulatory events. The risk and reward indicator does not take account of the following risks of investing in the Fund: 2 Counterparty risk. The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Fund to financial loss. 2 Liquidity risk. Lower liquidity means there are insufficient buyers or sellers to allow the Fund to sell or buy investments readily. 2 Index tracking risk. The Fund is not expected to track the performance of the Index at all times with perfect accuracy. The Fund is, however, expected to provide investment results that, before expenses, generally correspond to the price and yield performance of the Index. For further information on risks please see the Risk Factors section of the Prospectus on our website at

20 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 The ongoing charges figure is based on expenses for the year ended 31 December This figure may vary from year to year. It excludes Entry charge portfolio transaction costs. Exit charge For further information about charges please see the sections This is the maximum that might be taken out of your money before it is entitled Buying Shares, Redeeming Shares, Charges and invested / before the proceeds of your investment are paid out. Expenses, Dilution Levy and Appendix 1 of the Prospectus on Charges taken from the fund over a year our website at Ongoing charges 0.12% Charges taken from the fund under certain specific conditions Performance fee Past performance Per cent (%) 2 Past performance: 1. Is not a reliable indication of future performance. 2. Includes ongoing charges and the reinvestment of income. It excludes entry and exit fees. 3. Has been calculated in GBP. 2 Shares in the Fund were first issued in This Share class was launched in Fund Index Practical information 2 The Fund's depositary is State Street Trustees Limited. 2 You can obtain copies of the Prospectus and the latest annual and semi-annual report and accounts for Vanguard Investments Funds ICVC ( VIF ), along with the latest published prices of shares and other information on the Fund, free of charge from Vanguard Investments UK, Limited, P.O. Box 10315, Chelmsford CM99 2AT (tel ) or from our website at These documents are available in English only. 2 VIF is an umbrella fund with segregated liability between sub-funds. This means that the assets of the Fund are maintained separately under law from the assets of the other sub-funds of VIF, and each sub-fund is insulated from any liabilities or claims associated with the other sub-funds. 2 The Fund is part of VIF and has both accumulation and income shares. You may switch some or all of your shares of one type, to shares of another type within the same Fund, or between other funds of VIF. An entry charge may apply. Details of switching are provided in the Prospectus. 2 UK tax legislation may have an impact on your personal tax position. You are recommended to consult your professional tax adviser. 2 VIUK 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 this UCITS. The Fund is authorised in the UK and regulated by the Financial Conduct Authority ( FCA ). VIUK is authorised and regulated in the UK by the FCA. This key investor information is accurate as at 17/02/2015.

21 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. A GBP Accumulation Shares of Vanguard FTSE U.K. Equity Income Index Fund (the "Fund"), a subfund of Vanguard Investments Funds ICVC (ISIN: GB00B59G4H82) The Fund is managed by Vanguard Investments UK, Limited ("VIUK"), part of the Vanguard group of companies. Objectives and investment policy 2 The Fund seeks to track the performance of the FTSE U.K. Equity Income Index (the Index ). 2 The Index includes stocks of companies listed on the London Stock Exchange's main market that are expected to pay dividends that generally are higher than average. 2 The Fund attempts to: 1. Replicate the Index by investing through physical acquisition in all, or substantially all, of the component securities of the Index, holding each in approximately the same proportion as the weighting in the Index. 2. Remain fully invested and hold small amounts of cash except in extraordinary market, political or similar conditions where the Fund may temporarily depart from this investment policy. 2 The Fund may invest in financial derivative instruments that could increase or reduce exposure to underlying assets and result in greater fluctuations of the Fund's net asset value. Some derivatives give rise to increased potential for loss where the Fund's counterparty defaults in meeting its payment obligations. 2 The Fund may not be appropriate for investors who plan to withdraw their money within 5 years. 2 Income from the Fund will be reinvested and reflected in the price of shares in the Fund. 2 Shares in the Fund can be sold on a daily basis when the London Stock Exchange is open (subject to certain restrictions described in Appendix 1 of the Prospectus) by submitting an application in writing or by telephone before 12:00 noon (London time) or, where you hold shares with a platform, by submitting an application seeking the sale of your shares before the dealing cut-off time of the respective platform, provided that this is before the dealing cut-off time for the Fund. A full list of the days on which Shares in the Fund cannot be sold is available on For further information about the objectives and investment policy of the Fund, and Vanguard's limited relationship with the Index provider, please see Appendix 1 and the Disclaimers section of the Vanguard Investments Funds ICVC prospectus (the Prospectus ) on our website at Risk and reward profile Lower risk Typically lower rewards Higher risk Typically higher rewards This indicator is based on historical data and may not be a reliable indication of the future risk profile of the Fund. 2 The risk category shown is not guaranteed and may change over time. 2 The lowest category does not mean risk free. 2 The Fund is rated 5 due to the nature of its investments which include the risks listed below. These factors may impact the value of the Fund's investments or expose the Fund to losses. - The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. - Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political or regulatory events. The risk and reward indicator does not take account of the following risks of investing in the Fund: 2 Counterparty risk. The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Fund to financial loss. 2 Liquidity risk. Lower liquidity means there are insufficient buyers or sellers to allow the Fund to sell or buy investments readily. 2 Index tracking risk. The Fund is not expected to track the performance of the Index at all times with perfect accuracy. The Fund is, however, expected to provide investment results that, before expenses, generally correspond to the price and yield performance of the Index. For further information on risks please see the Risk Factors section of the Prospectus on our website at

22 Charges Any charges to the investor will be taken from capital, not income. This may increase the level of income paid but will result in capital erosion and will constrain growth. One-off charges taken before or after you invest The entry charge represents Stamp Duty Reserve Tax. This charge is paid directly to the Fund and not to VIUK. Entry charge 0.40% The entry and exit charges shown are maximum figures and in some Exit charge cases you might pay less. This is the maximum that might be taken out of your money before it is invested / before the proceeds of your investment are paid out. Investors can find out the actual entry and exit charges from their financial Charges taken from the fund over a year adviser. Ongoing charges 0.22% Charges taken from the fund under certain specific conditions Performance fee Past performance The ongoing charges figure is based on expenses for the year ended 31 December This figure may vary from year to year. It excludes portfolio transaction costs. For further information about charges please see the sections entitled Buying Shares, Redeeming Shares, Charges and Expenses, Dilution Levy and Appendix 1 of the Prospectus on our website at Per cent (%) 2 Past performance: 1. Is not a reliable indication of future performance. 2. Includes ongoing charges and the reinvestment of income. It excludes entry and exit fees. 3. Has been calculated in GBP. 2 Shares in the Fund were first issued in This Share class was launched in Fund Index Practical information 2 The Fund's depositary is State Street Trustees Limited. 2 You can obtain copies of the Prospectus and the latest annual and semi-annual report and accounts for Vanguard Investments Funds ICVC ( VIF ), along with the latest published prices of shares and other information on the Fund, free of charge from Vanguard Investments UK, Limited, P.O. Box 10315, Chelmsford CM99 2AT (tel ) or from our website at These documents are available in English only. 2 VIF is an umbrella fund with segregated liability between sub-funds. This means that the assets of the Fund are maintained separately under law from the assets of the other sub-funds of VIF, and each sub-fund is insulated from any liabilities or claims associated with the other sub-funds. 2 The Fund is part of VIF and has both accumulation and income shares. You may switch some or all of your shares of one type, to shares of another type within the same Fund, or between other funds of VIF. An entry charge may apply. Details of switching are provided in the Prospectus. 2 UK tax legislation may have an impact on your personal tax position. You are recommended to consult your professional tax adviser. 2 VIUK 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 this UCITS. The Fund is authorised in the UK and regulated by the Financial Conduct Authority ( FCA ). VIUK is authorised and regulated in the UK by the FCA. This key investor information is accurate as at 17/02/2015.

23 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. A GBP Accumulation Shares of Vanguard U.S. Equity Index Fund (the "Fund"), a subfund of Vanguard Investments Funds ICVC (ISIN: GB00B5B71Q71) The Fund is managed by Vanguard Investments UK, Limited ("VIUK"), part of the Vanguard group of companies. Objectives and investment policy 2 The Fund seeks to track the performance of the S&P Total Market Index (the Index ). 2 The Index includes stocks of large, mid, small, and micro-capitalization companies of the U.S. stock market. 2 The Fund attempts to: 1. Track the Index by investing through physical acquisition in a representative sample of the component securities of the Index. 2. Remain fully invested and hold small amounts of cash except in extraordinary market, political or similar conditions where the Fund may temporarily depart from this investment policy. 2 The Fund may invest in financial derivative instruments that could increase or reduce exposure to underlying assets and result in greater fluctuations of the Fund's net asset value. Some derivatives give rise to increased potential for loss where the Fund's counterparty defaults in meeting its payment obligations. 2 The Fund invests in securities which are denominated in USD. Movements in currency exchange rates can affect the return of investments. 2 This Fund may not be appropriate for investors who plan to withdraw their money within 5 years. 2 Income from the Fund will be reinvested and reflected in the price of shares in the Fund. 2 Shares in the Fund can be sold on a daily basis when the London Stock Exchange is open (subject to certain restrictions described in Appendix 1 of the Prospectus) by submitting an application in writing or by telephone before 12:00 noon (London time) or, where you hold shares with a platform, by submitting an application seeking the sale of your shares before the dealing cut-off time of the respective platform, provided that this is before the dealing cut-off time for the Fund. A full list of the days on which Shares in the Fund cannot be sold is available on For further information about the objectives and investment policy of the Fund, and Vanguard's limited relationship with the Index provider, please see Appendix 1 and the Disclaimers section of the Vanguard Investments Funds ICVC prospectus (the Prospectus ) on our website at Risk and reward profile Lower risk Typically lower rewards Higher risk Typically higher rewards This indicator is based on historical data and may not be a reliable indication of the future risk profile of the Fund. 2 The risk category shown is not guaranteed and may change over time. 2 The lowest category does not mean risk free. 2 The Fund is rated 6 due to the nature of its investments which include the risks listed below. These factors may impact the value of the Fund's investments or expose the Fund to losses. - The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. - Movements in currency exchange rates can adversely affect the return of your investment. - Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political or regulatory events. The risk and reward indicator does not take account of the following risks of investing in the Fund: 2 Counterparty risk. The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Fund to financial loss. 2 Liquidity risk. Lower liquidity means there are insufficient buyers or sellers to allow the Fund to sell or buy investments readily. 2 Index tracking risk. The Fund is not expected to track the performance of the Index at all times with perfect accuracy. The Fund is, however, expected to provide investment results that, before expenses, generally correspond to the price and yield performance of the Index. For further information on risks please see the Risk Factors section of the Prospectus on our website at