INVESTMENT BASICS A GUIDE TO OUR FUNDS FOR RETAIL INVESTORS

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1 This document is for use with a financial adviser only INVESTMENT BASICS A GUIDE TO OUR FUNDS FOR RETAIL INVESTORS Building better solutions

2 This guide, written especially for retail investors, aims to provide an introduction to some basic principles of investment, to the major asset classes, and to our funds.

3 WHY INVEST? Most people recognise that putting money aside is a good thing to do. They may save or invest to plan for a comfortable retirement, to assist their children financially, or to leave an inheritance. We all need to protect and grow the value of our money for the future. But when we think about how best to do this, we are faced with a huge and often bewildering array of options. A key point to bear in mind is the difference between savings and investment. Savings products are typically low risk, often coming with a guarantee that a saver will get back whatever he or she puts in, and be paid a specified rate of interest. Typical savings products are bank deposit accounts, fixed-term savings accounts and cash ISAs. A drawback of savings products is that the scope for their value to grow will usually be limited to the interest rates available. This can make it difficult for savers to beat the longterm eroding effects of inflation (the rate at which prices for goods and services have been rising). Investments, for example in funds such as those provided by Old Mutual Global Investors (OMGI), are different from savings. An investment is purchased in the hope that it will go up in value and/or generate an income. The value of investments is almost never guaranteed, and will usually fluctuate, going up and down over time. The amount by which an investment s value moves up or down is an important characteristic. As a very general rule, investments which move up and down by greater amounts may have a greater potential to increase in value over the long term, although there is also a greater chance that they will lose money. Investment is about making judgments despite uncertainty, and a key judgment to get used to is balancing risk against potential reward. HOW MUCH RISK SHOULD YOU TAKE? Some people are naturally cautious, and others more adventurous. Both types of people should think about objective measures of their ability to take risk, which may be very different from their willingness to take risk. Things to bear in mind when thinking about your ability to take risk include: whether you are still earning money from employment, or are already retired: if you do not have an employment income, you will not be able to replace any unexpected investment losses from a salary your age: younger people are often able to take on more investment risk than retired people, because younger people have more years ahead of them in which to make up any losses, and because they may have less immediate need for an income from their investments whether you have pressing needs for cash in the near-term: big expenses in the near future (such as helping children with their education, or paying off a mortgage) reduce your ability to take risk. These are only general points, and do not constitute advice. Investments can do down as well as up, and so you may not get back what you put in. Everybody s individual circumstances are different, and you should consult a financial adviser who can assess your ability to take risk and your investment requirements. Information on how to find a financial adviser is included at the end of this guide. Investment basics A guide to OMGI funds for retail investors 1

4 Here are some further general points to bear in mind: TAKE A LONG-TERM APPROACH Very few investors have demonstrated the ability successfully and repeatedly to time the market, to jump in and out to gain from anticipated market rises or falls. For this reason, history has shown that for the vast majority of investors, taking a long-term approach is far more likely to enable them to achieve their longterm investment objectives. Furthermore, by investing smaller amounts on a regular basis, even when prices have fallen, investors experience the benefits of pound-cost averaging - when prices are low, the same amount of pounds will buy more shares, allowing the investor to benefit further if prices later rise. HARNESS THE BENEFITS OF COMPOUNDING Compounding means reinvesting the gain made from, or the interest generated by, an investment: returns are thus produced on previous returns, and this can have a very beneficial long-term effect. The graph opposite shows an illustration of the beneficial effects of making regular contributions to an investment, and leaving the returns invested. The graph assumes that the investor contributes 1,000 every year, and that the annual return is 5%. The light green line shows the value of the investment if the investor withdraws the return each year (to spend it, for example). The dark green line shows the value of the investment if the investor leaves the annual return invested. As can be seen, leaving returns invested can cause the entire amount to grow very nicely over the long term. THE BENEFITS OF COMPOUNDING 150, ,000 50,000 0 Reinvesting returns Not reinvesting returns Years Source: OMGI. For illustrative purposes only. WHAT ARE FUNDS? A fund collects money from different investors, and pools it together. The pooled money is then invested by a professional fund manager on behalf of all of the investors in the fund, following a specific investment objective and policy which outline the types of assets in which the fund can invest. For example, some funds invest only in equities (company shares see page 5), others only in bonds (a form of debt see page 6), and others in a mixture of the two. As well as professional management, a great advantage of funds is that they provide for diversification, or not putting all your eggs in one basket. For most investors, pooling their money with others enables them to be exposed through the fund to a wider range of investments than individuals would be able to own acting alone. This is often beneficial because if some of the fund s investments do badly, it is possible that others may do well. Throughout this guide we will mention funds we at OMGI offer, but you should consult your adviser before deciding on any investment. OMGI has expertise in a range of specialist areas of investment, including UK and international asset classes, as well as newer forms of investment that will be discussed later in this guide. The value of investments may go down as well as up, and you may not get back what you originally invested. 2 Old Mutual Global Investors

5 EQUITIES Ownership of a company is usually divided into shares, often referred to as equities. When you buy a share, you are effectively buying an ownership interest in part of a company. The more shares in an individual company an investor buys, the greater the overall portion of that company the investor owns, entitling them to a greater amount of any dividends (see overleaf) that the company pays. Shares can be bought and sold on a stock exchange at prices which move up and down. The price movements of shares are influenced by many factors. Clearly, there are many different kinds of companies in which to invest, each with individual characteristics. For example, investors may choose to buy shares in companies based only in their domestic market. Alternatively, they may choose to invest in companies based in a specific region, for instance Europe or Asia, or perhaps in developed or emerging countries. There are also ways of investing across the entire world, and major countries that are included in the MSCI World index (a kind of benchmark) are shown in the chart below. MAJOR COUNTRIES IN THE MSCI WORLD INDEX Source: MSCI as at 31/10/2017. United States Japan United Kingdom France Germany Companies diverse characteristics make their shares behave in different ways. For example, shares in companies based in emerging markets are widely believed to have the potential to generate very attractive returns in the long term; however, their potential to fall sharply and unpredictably in value is also thought to be significant and greater than for shares of many companies in developed countries and markets. Geography is not the only way to distinguish different kinds of investment. Investors may prefer companies that seem safer, more stable, and more resilient in the face of tough economic conditions, or alternatively companies that appear likely to grow faster, perhaps because they have developed attractive products. Shares are also sorted by commercial sector. The chart overleaf shows the wide variety of sectors of the shares in the FTSE 100 index, a benchmark of the largest companies whose shares are traded on the London Stock Exchange. Investment basics A guide to OMGI funds for retail investors 3

6 COMPANY SECTORS IN THE FTSE 100 INDEX Source: FTSE Russell as at 30/11/2017. Oil & Gas Chemicals Basic Resources Construction & Materials Industrial Goods & Services Automobiles & Parts Food & Beverage Personal & Household Goods Health Care Retail Media Travel & Leisure Telecommunications Utilities Banks Insurance Real Estate Financial Services Technology EQUITY FUNDS The complexity of these choices leads many investors to take financial advice and invest in professionally managed equity funds, rather than buying individual shares. This gives them the advantage of being able to pool their money together with other investors, spreading their risk, and taking advantage of management by a professional fund manager. There are many different kinds of equity funds, and investors should take some time to familiarise themselves with them and choose the sort they want. They can do this by reviewing the fund s Key Investor Information Document (KIID), its prospectus, and other fund offering documents: OMGI makes these available on its website. As well as differences in geographical region, equity funds may also differ in the size of companies they invest in, for example. One kind of equity fund is an equity income fund, which, as the name suggests, aims at delivering a good level of income to investors by targeting companies paying attractive dividends (see box). All these types of equity fund are exposed to market movements, which can cause investments to go down as well as up. WHAT ARE DIVIDENDS? When a company makes a profit, it can either reinvest the profits in its business, or it can pay them out to shareholders in the form of dividends. Reinvesting their profits is useful for companies as it may allow them to develop a new product or service, take on more staff to meet existing demand, or even buy a competitor. Using its own profits can be a more cost-effective way of financing their needs than borrowing money or issuing more shares. Shareholders may also find this approach attractive, especially if they believe that reinvesting profits into the business now will help increase the company s profitability in the future. On the other hand, it is important for companies to reward shareholders (who are the ultimate owners of the business) in the form of dividends. Dividend payments are typically made to shareholders on a regular basis; though there may also be special dividends paid. For example, a company might make a special dividend payment if it sold a part of its business: the special dividend could be used to pay out the proceeds of the sale to shareholders. OMGI offers investors various ways to access global equity markets. Award-winning fund manager, Richard Buxton, heads a 15-strong team at OMGI dedicated to the detailed research of UK stocks, including large, medium and smaller companies in the UK. OMGI s highly acclaimed global equities team, under the leadership of Ian Heslop, uses sophisticated computer-based techniques to monitor global equity markets and to identify attractive investment opportunities. 4 Old Mutual Global Investors

7 OMGI S RANGE OF EQUITY FUNDS Fund Aim Predominantly invests in Style Fund manager Old Mutual UK Equity Capital growth Shares of UK companies Adapts to changing market conditions Simon Murphy Old Mutual UK Alpha Capital growth Shares of UK companies Award-winning manager, concentrated, high conviction portfolio Old Mutual UK Equity Income Income and capital growth Shares of UK companies Flexible, focuses on growth as well as income Old Mutual UK Mid Cap Capital growth Shares of medium sized UK companies Combines stockpicking with awareness of business cycle Old Mutual UK Smaller Companies Old Mutual UK Smaller Companies Focus Old Mutual European Equity (ex UK) Capital growth Shares of smaller sized UK companies Aims to identify under-researched companies with good value Capital growth Shares of smaller sized UK companies Aims to identify under-researched companies with good value Capital growth Shares of European companies Seeks out of favour companies with good potential Old Mutual European Equity Capital growth Shares of European companies Seeks out of favour companies with good potential (includes UK) Old Mutual Europe (ex UK) Smaller Cos Old Mutual North American Equity Old Mutual US Equity Income Fund Richard Buxton Ed Meier Richard Watts Dan Nickols Dan Nickols Liam Nunn Ian Ormiston Capital growth Shares of smaller European companies Seeks quality niche companies Ian Ormiston Capital growth Shares of North American companies Systematic monitoring of market Ian Heslop, Amadeo Income and capital growth Shares of US companies Systematic monitoring of market Ian Heslop, Amadeo Old Mutual Global Equity Capital growth Shares of global companies Systematic monitoring of market Ian Heslop, Amadeo Old Mutual World Equity Capital growth Shares of global companies Systematic monitoring of market Ian Heslop, Amadeo Old Mutual Global Equity Income Old Mutual Global Emerging Markets Old Mutual Asian Equity Income Income and capital growth Shares of global companies Systematic monitoring of market Ian Heslop, Amadeo Capital growth Shares of emerging markets companies Seeks quality companies at a reasonable price Nick Payne Capital growth Shares of Asian companies Systematic monitoring of market Ian Heslop, Amadeo Old Mutual Pacific Equity Capital growth Shares of Asian (ex-japan) companies Systematic monitoring of market Ian Heslop, Amadeo Old Mutual Asia Pacific Capital growth Shares of Asian and Australasian companies Systematic monitoring of market Ian Heslop, Amadeo Old Mutual China Equity Capital growth Shares of companies in China Pragmatic and flexible Ping An of China Asset Management (HK) Co Ltd Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back the amount originally invested. The above funds are authorised and regulated by the Financial Conduct Authority (FCA). Investment basics A guide to OMGI funds for retail investors 5

8 BONDS Many different organisations for example governments and companies have requirements to borrow money. A way in which they can borrow, instead of going to a bank for a loan, is to issue bonds to investors. A bond is an IOU, and the bondholder has lent a specified sum of money to the issuer of the bond. Bonds are also called fixed income securities. The issuer (a government or a company) makes a commitment to pay regular interest or coupon payments of a fixed amount to bondholders. In addition, the issuer repays the face value of the bond on the maturity date, which could be a few months or many years in the future, but is a date specified in advance. Investors may wish to hold a bond throughout the entire period from its issue until its repayment date; however, they may also buy and sell bonds, after their issue, trading with other investors in what is called the secondary market. The prices of bonds traded in the market are affected by movements in interest rates. If interest rates go up, the market price of bonds typically goes down. Why is this? Suppose a bond is paying a fixed coupon of 3%, and generally available interest rates (for that type of bond) are also 3%. Then suppose interest rates rise to 4%: the bond s coupon is fixed at 3%, so the bond has become less attractive, and the market price of the bond falls to compensate (see chart). The converse is also true: when interest rates fall, bond prices typically go up. The prices of bond investments will usually rise and fall over the course of their life, and you may not get back what you originally invested. WHEN INTEREST RATES RISE, A BOND S PRICE FALLS 7% 6% 5% 4% 3% 2% 1% 0% Years to Maturity Source: OMGI. For illustrative purposes only Interest rates (%) Market price of bond ( ) WHAT IS INFLATION? Inflation is the rate at which prices for goods and services have been rising. Due to inflation, retired people relying on a fixed income find to their discomfort that the same amount of money buys less and less every year. Inflation is also a great enemy of bond investors, because the fixed coupons that bonds pay out have less real spending power after taking inflation into account. Central banks such as the Bank of England in the UK, and the Federal Reserve in the US use various techniques to influence or control interest rates as one of their main tools of monetary policy. A main reason they do this is to prevent inflation from getting too high. The opposite of inflation is deflation, when prices fall. Deflation is good for bonds, but can slow down the whole economy if corporate and individual purchasers hold off from buying goods and services because they expect prices to fall further. INFLATION ERODES PURCHASING POWER % inflation 800 5% inflation 6% inflation Years Purchasing power ( ) Source: OMGI. For illustrative purposes only. 6 Old Mutual Global Investors

9 OMGI S RANGE FIXED INCOME FUNDS Fund Aim Predominantly invests in Style Old Mutual Corporate Bond Capital growth and income Bonds issued by companies Concentrated in investment grade (higher quality) bonds Old Mutual Investment Grade Corporate Bond Old Mutual Monthly Income Bond Old Mutual Monthly Income High Yield Bond Old Mutual Global Strategic Bond Old Mutual Emerging Market Debt Old Mutual Local Currency Emerging Market Debt Capital growth and income Capital growth and income Bonds issued by companies with higher credit ratings Bonds issued by companies and governments Focus on quality across US, Europe and Asia Flexible, no restrictions on geography Capital growth and income Bonds issued by companies Dividends distributed on a monthly basis Capital growth and income Capital growth and income Capital growth and income Bonds of any kind, anywhere in the world Bonds issued by governments in emerging markets Bonds issued in local currencies by governments in emerging markets Integrates expertise across the fixed income team Dynamic, nimble approach Dynamic, nimble approach Fund manager Lloyd Harris Lloyd Harris Lloyd Harris Deepa Abraham, Lloyd Harris Mark Nash, Nicholas Wall Delphine Arrighi Delphine Arrighi Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back the amount originally invested. The above funds are authorised and regulated by the Financial Conduct Authority (FCA). Investment basics A guide to OMGI funds for retail investors 7

10 ALTERNATIVES So far in this guide we have discussed so-called traditional kinds of investment such as funds that simply buy equities (company shares), or that simply buy bonds (a form of traded debt). In addition to traditional funds, there are also so-called alternative funds, which have been of increasing interest over recent years. However, you should be aware that alternative funds tend to be more sophisticated and complex than traditional funds, and you should always consult your adviser before deciding whether to invest in them. Their value may go down as well as up, and you may not get back what you originally invested. Alternative funds vary widely in their aims and styles, and also in the asset classes in which they invest. Investors may find them attractive because they have different characteristics to traditional asset classes, and so can help them diversify their portfolios. Many alternative funds use derivatives, which can amplify or dampen price movements up or down. Some alternative funds seek to profit in both a rising and a falling market. They are attractive to investors who seek protection from falling markets, or who are neutral on the direction of the market. OMGI runs alternative funds of this kind, such as the Old Mutual Global Equity Absolute Return Fund, managed by Ian Heslop and his team, and the Old Mutual UK Specialist Equity Fund, managed by Tim Service. Also classified as alternative assets are other forms of investment such as property and commodities, which have different characteristics from the traditional asset classes of equities, bonds and cash. OMGI S RANGE OF ALTERNATIVES FUNDS Fund Aim Predominantly invests in Old Mutual UK Dynamic Equity Old Mutual UK Opportunities Old Mutual UK Specialist Equity Old Mutual Global Equity Absolute Return Old Mutual Strategic Absolute Return Bond Fund Capital growth Shares of medium and smaller sized UK companies Style Long and short positions to enhance manager's view Capital growth Shares in UK companies Long and short positions to enhance manager's view Capital growth Capital growth Capital growth Shares of medium and smaller sized UK companies Shares of companies worldwide Bonds of any kind, anywhere in the world Long and short positions to reduce exposure to market Systematic monitoring of market Long and short positions to seek positive returns Fund manager Luke Kerr Simon Murphy Tim Service Ian Heslop, Amadeo Mark Nash, Nicholas Wall Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back the amount originally invested. The above funds are authorised and regulated by the Financial Conduct Authority (FCA). Investment basics A guide to OMGI funds for retail investors 8

11 PRECIOUS METALS Gold and silver are referred to as precious metals, that is, metals that are rare and of high value. They can be bought in the form of bars, coins, or through funds. An indirect way of investing in precious metals is by buying shares in gold and silver mining companies. Some investors put some of their money into gold and silver because they believe they are a good store of value. Precious metals can do well when there is general financial or political instability. However, at times of economic optimism, precious metals can do badly. Different precious metals have different characteristics. For instance, silver is much cheaper per ounce, and has a wider industrial use than the rarer and more precious gold. More than half of world demand for silver comes from industry. Therefore the price of sliver moves differently to the price of gold. A particular feature of the Old Mutual Gold & Silver Fund is the way its manager, Ned Naylor-Leyland, blends gold and silver. He rotates the weightings (proportions) to them according to his view of market conditions. OTHER COMMODITIES Gold and silver are classified as commodities. There is a huge variety of commodities: as well as precious metals (gold, silver and platinum), there are industrial metals (such as iron ore, copper, aluminium, zinc, lead and tin), energy products (such as oil, natural gas, electricity and coal), and agricultural products (such as wheat, cattle and coffee). Investors should be aware that all commodities, including gold and silver, can be quite volatile, that is, their prices can be subject to large movements down as well as up, meaning that you may not get back what you originally invested. OMGI S COMMODITIES FUND Fund Aim Predominantly invests in Old Mutual Gold & Silver Capital growth Shares in gold and silver mining companies and bullion funds Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back the amount originally invested. The above fund is authorised and regulated by the Financial Conduct Authority (FCA). Style Dynamic blending of gold and silver Fund manager Ned Naylor-Leyland Investment basics A guide to OMGI funds for retail investors 9

12 NEXT STEPS Before making any investment, it is important that you consult a financial adviser who understands your individual circumstances and requirements. If you do not have a financial adviser, here are some ways to find one. A good place to start is the Money Advice Service, the UK statutory body for improving people s understanding of financial matters. It explains what financial advisers offer here: HERE ARE SOME OTHER IMPARTIAL WEBSITES THAT MAY HELP: The Personal Finance Society lists financial advisers, which you can search for by postcode. Lists financial advisers, both independent and restricted. Another service that lists financial advisers. do-you-need-a-financial-adviser#find-a-financialadviser 10 Old Mutual Global Investors

13 IMPORTANT INFORMATION Past performance is not a guide to future performance and may not be repeated. Investment involves risk. The performance data does not take account of the commissions and costs incurred on the issue and redemption of shares. The value of investments and the income from them may go down as well as up and investors may not get back the amount originally invested. Because of this, an investor is not certain to make a profit on an investment and may lose money. Exchange rates may cause the value of overseas investments to rise or fall. This communication is issued by Old Mutual Global Investors (UK) Limited ( Old Mutual Global Investors ), Millennium Bridge House, 2 Lambeth Hill, London, United Kingdom, EC4P 4WR. Old Mutual Global Investors is authorised and regulated by the Financial Conduct Authority. Additional Information Irish Domiciled Funds: This communication provides information relating to the following sub-funds, (the Funds ), which are sub-funds of Old Mutual Global Investors Series plc: Old Mutual Europe (ex UK) Smaller Companies Fund, Old Mutual World Equity Fund, Old Mutual Asian Equity Income Fund, Old Mutual Pacific Equity Fund, Old Mutual China Equity Fund, Old Mutual Monthly Income High Yield Bond Fund, Old Mutual Emerging Market Debt Fund, Old Mutual Local Currency Emerging Market Debt Fund, Old Mutual UK Dynamic Equity Fund, Old Mutual Global Equity Absolute Return Fund, Old Mutual Gold & Silver Fund Old Mutual Global Investors Series plc is an investment company with variable capital established as an umbrella fund with segregated liability between sub-funds which is authorised and regulated by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011, as amended. Registered in Ireland under registration number Registered office: 33 Sir John Rogerson s Quay, Dublin 2, Ireland. Old Mutual Global Investors uses all reasonable skill and care in compiling the information in this communication which is accurate only on the date of this communication. You should not rely upon the information in this communication in making investment decisions. Nothing in this communication constitutes advice or personal recommendation. An investor should read the Key Investor Information Document(s) ( KIID ) before investing in any sub-fund of Old Mutual Global Investors Series plc. The KIID and the prospectus can be obtained from in English and other required languages. Certain paying and/or information agents have been appointed in connection with public distribution of the shares of Old Mutual Global Investors Series plc in certain jurisdictions. Shares are sold by prospectus only. The prospectus, KIID and/or other relevant offering documentation is available free of charge at: Austria: Erste Bank der oesterreichischen Sparkassen AG, Belvedere 1, 1010 Wien, Austria. Belgium: CACEIS Belgium SA, B-1000 Brussels, Avenue du Port 86 C b320, Brussels. Germany: Skandia Portfolio Management GmbH, Kaiserin-Augusta-Allee 108, Berlin, Germany. France: BNP Paribas Securities Services, Les Grands Moulins de Pantin, 9 rue du Debarcadère Pantin, France. Hong Kong: Old Mutual Global Investors (Asia Pacific) Limited, Unit 2, 5/F Two Chinachem Central, 26 Des Voeux Road Central, Hong Kong. Italy: Allfunds Bank S.A., Estafeta, 6. (La Moraleja) Complejo Plaza de la Fuente Edificio 3 C.P Alcobendas, Madrid; Societe Generale Securities Services S.p.A, Via Benigno Crespi 19A MAC2, Milan and BNP Paribas Securities Services, Piazza Lina Bo Bardi No.3, Milan. Luxembourg: BNP Paribas Securities Services, Luxembourg Branch, 33 rue de Gasperich, L-5826, Grand Duchy of Luxembourg. Spain: Allfunds Bank, C/ La Estafeta 6, Edificio 3, Alcobendas, Madrid, Spain. Sweden: Skandinaviska Enskilda Banken AB ( SEB ), Kungsträdgårdsgatan 8, SE , Stockholm, Sweden. Switzerland: First Independent Fund Services Ltd. is the Swiss representative and BNP Paribas Securities Services, Paris, succursale de Zurich, is the Swiss paying agent. Taiwan: Capital Gateway Securities Investment Consulting Enterprise, 9F/9F-1, No. 171, Songde Road, Xinyi District, Taipei City, Taiwan, R.O.C. United Kingdom: Old Mutual Global Investors (UK) Limited, Millennium Bridge House, 2 Lambeth Hill, London, United Kingdom, EC4P 4WR. The Funds are recognised by the FCA. Other: Old Mutual Global Investors Series plc, c/o Citibank Europe plc, 1 North Wall Quay, Dublin 1, Ireland. In Denmark, this material is only intended for the exclusive use of Danish eligible counterparties or professional investors. Danish retail investors may not invest in the sub-funds mentioned in the material. In Spain, Old Mutual Global Investors Series plc is registered with the Comisión Nacional del Mercado de Valores in under number 301. OMGI is registered under number The prospectus, KIID and the latest economic reports can be obtained at no cost from Allfunds Bank. In the Republic of Finland, this communication is not intended to constitute a public offer or an advertisement of securities. In Italy, prima dell adesione leggere il Prospetto e i KIID, disponibili presso i collocatori. In Luxembourg, this information does not constitute, under any circumstances, an offer or an invitation to purchase or sell shares in Luxembourg and does not and is not intended to constitute an offer of shares in the Grand Duchy of Luxembourg. It does not constitute legal, accounting, or tax advice. The Funds may be more than 35% invested in Government and public securities. These can be issued by other countries and Governments. Your attention is drawn to the stated investment policy which is set out in the Funds prospectus. Additional Information UK Domiciled Funds The following are sub-funds of Old Mutual Investment Series I and Old Mutual Investment Series II, both of which are investment companies with variable capital incorporated in England and Wales and authorised by the Financial Conduct Authority: Old Mutual Global Equity Income Fund, Old Mutual UK Alpha Fund, Old Mutual Corporate Bond Fund, Old Mutual Monthly Income Bond Fund, Old Mutual UK Equity Income Fund, Old Mutual UK Mid Cap Fund, Old Mutual UK Smaller Companies Fund, Old Mutual UK Opportunities Fund, Old Mutual Asia Pacific Fund, Old Mutual European Equity (ex UK) Fund, Old Mutual Global Equity Fund, Old Mutual Global Strategic Bond Fund, Old Mutual Japanese Equity Fund, Old Mutual North American Equity Fund and Old Mutual UK Equity Fund The Funds can be distributed to the public in the United Kingdom: Old Mutual Global Investors uses all reasonable skill and care in compiling the information in this communication which is accurate only on the date of this communication. You should not rely upon the information in this communication in making investment decisions. Nothing in this communication constitutes advice or personal recommendation. An investor should read the Key Investor Information Document(s) ( KIID ) before investing in the Funds. The KIID and the prospectus can be obtained from or in English and other required languages. The following Funds may be more than 35% invested in Government and public securities. These can be issued by other countries and Governments. Your attention is drawn to the stated investment policy which is set out in the Fund s prospectus. Investment basics A guide to OMGI funds for retail investors 11

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