Your personal illustration

Transcription

1 Your personal illustration Including Fund Specific Information and/or Key Investor Information Documents For individual investors with an adviser or intermediary This document must be read in conjunction with 'Doing Business with FundsNetwork' (Including the Key Features of the Investment Fund Account and ISA) and the FundsNetwork Client Terms. FundsNetwork ISA Fund Name Lump Sum Monthly Savings Plan Artemis Global Income Fund Class I Inc 2,540 CF Woodford Equity Income Fund C Inc 2,540 JOHCM UK Equity Income Fund Y Dist 2,540 Marlborough Multi Cap Income Fund P Inc 2,540 Newton Emerging Income Fund Institutional W Inc 2,540 Schroder Asian Income Fund Z Income 2,540 Total Investment Amount 15,240 Adviser Initial Fee 0 What you will pay 15,240

2 Your personal FundsNetwork ISA projection Below is a summary of your investment choices, and an illustration of what you might get back after ten years if your investments grow at the example growth rates shown and the charges for buying and owning each fund are deducted. Each fund is projected at a lower, mid and higher growth rate. For funds investing mainly in equities or shares we use the standard mid growth rate set by the Financial Conduct Authority (FCA). However, for funds where we believe the standard mid growth rate is not realistic, we use a lower mid growth rate. This includes funds investing predominantly in bonds or cash. The lower growth rate is 3% below the mid growth rate and the higher growth rate is 3% above the mid growth rate as set by the FCA. Note that these example growth rates assume that you will hold these investments for around 10 years or more. Using standard growth rates for similar types of fund helps to demonstrate the effect of a fund's charges on the growth of that fund, and makes it easier to compare one set of fund charges with another. Note that the fund charges can vary over time. Please note that the real growth rate of each fund will depend on future movements in share prices, which can go down as well as up, so you could get back less than you invest therefore the projections should only be considered as examples, are not guaranteed, and are not minimum or maximum amounts. You should also bear in mind that inflation will reduce what you could buy in the future with the amounts shown. A more detailed projection and information about the charges that apply to each fund can be found in its 'effect of charges' table in this document. What your investment may be worth after 10 years Fund Name Lump Sum Monthly Savings Plan over 10 years Amount invested plus Adviser Fees paid at the end of Year 10 Growth Projections at 2.00% 5.00% 8.00% Artemis Global Income Fund Class I Inc 2,540 2,540 2,640 3,520 4,670 CF Woodford Equity Income Fund C Inc 2,540 2,540 2,660 3,560 4,710 JOHCM UK Equity Income Fund Y Dist 2,540 2,540 2,690 3,590 4,760 Marlborough Multi Cap Income Fund P Inc 2,540 2,540 2,650 3,540 4,700 Newton Emerging Income Fund Institutional W Inc 2,540 2,540 2,650 3,540 4,690 Schroder Asian Income Fund Z Income 2,540 2,540 2,610 3,490 4,630 Total 15, ,240 15,900 21,240 28,160 Notes: All projected figures are rounded down and shown to 3 significant figures. Any monthly savings plan (MSP) contributions are based on the total contributed over the whole duration you specified. Important Information The Financial Conduct Authority is our financial services regulator. It requires us to give you this important information to help you decide whether our ISA and / or Investment Fund Account is right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference. Please note that we do not provide advice, and, therefore, are not required to assess the suitability or appropriateness of investments that you choose, that we may hold for you, or for other services provided to you by FundsNetwork. This means you do not benefit from the protection of the rules of the Financial Conduct Authority on assessing suitability. If you have received a recommendation from your adviser they will be responsible for the suitability of the recommendation. 2

3 s and Expenses Field Title Description Investment s, set by the fund manager or externally. Initial charge Ongoing charges Other charges Fund Manager's Buy Fund Manager's Sell Negotiated Fund Manager Discount For some investments, this is a percentage of the total amount invested, paid to us each time you invest money in a fund (that's each regular monthly savings plan payment). Most funds we offer do not have initial charges, however when you invest you may pay the bid offer spread, if there is one, for a dual priced fund. These are shown as a percentage amount of the value of your funds each year. All funds have ongoing charges. These are referred to as the ongoing charge figure (OCF) or total expense ratio (TER), both of which include the annual management charge (AMC) and other expenses for a fund. Other charges you may pay depending on the type of fund you invest in. For example a performance fee, paid to the fund manager if a fund exceeds pre-set performance targets, or 0.5% Stamp Duty Reserve Tax on the purchase of certain Investment Trusts. A percentage amount that may be set, charged and retained by the fund manager each time you buy Shares. Not all funds incur a Fund Manager's Buy. A percentage amount that may be set, charged and retained by the fund manager each time you sell Shares. Not all funds incur a Fund Manager's Sell. For some investments we may receive a rebate from the fund manager, known as a Negotiated Fund Manager Discount. After deducting any tax that is due we will reinvest the rebate back into your account, if applicable, so that you benefit from it. Service s, set by us as the provider of platform services or by our service provider partners Platform fees Investor Fee Client Fee Service Fee Switching ETP dealing fee We charge platform fees in return for providing platform services associated with your investments. Our fees are made up of three separate annual charges: you will pay the Investor Fee or the Client Fee, and the Service Fee. An annual charge of 45 charged if you have made qualifying transaction after 16 December 2013 (or previously paid the Account Fee). A single Investor Fee covers all your sole accounts, and there is a separate Investor Fee for each set of joint accounts in the same names. An annual charge of 10 charged if you are not subject to the Investor Fee. A single Client Fee covers all your sole accounts, and there is a separate Client Fee for each set of joint accounts in the same names. An annual percentage charge of 0.25% of the investments you hold in certain share classes, charged in addition to the fund s ongoing charges. We don t charge any switching fees, however when you switch investments you may pay the bid offer spread, if there is one, for a dual priced fund, the ETP dealing fee of 0.1% for ETPs, the Stamp Duty Reserve Tax of 0.5% on an Investment Trust buy transaction, or a Fund Manager s Buy or Fund Manager s Sell, if applicable. This is a percentage charge of the value of a transaction, levied and deducted by the stockbroker, each time we ask them to carry out a transaction on your behalf that involves buying or selling an Exchange Traded Product (ETP) through FundsNetwork (including switches and dividend re-investments). Adviser or Intermediary s, agreed between you and your adviser or intermediary for services that may or may not include advice and which you have asked us to pay on your behalf Initial Fee Ongoing Fee Specified Fee Commission This is paid when you make a lump sum investment, regular monthly savings contribution or transfer as a percentage or fixed cash amount, paid on top of or as part of the amount you are investing, as applicable. This is paid on a monthly basis as a percentage or fixed cash amount by deducting units from your account. This is a fixed cash amount paid for a specific purpose by deducting units from your account. For some investments, where you have agreed to pay by commission, an initial commission and/or ongoing commission is paid from the fund charges to your adviser or intermediary. If your adviser or intermediary would normally be paid commission for an investment on which you've also agreed to pay a fee, we will reduce the initial charge by the amount of the initial commission, and pay the ongoing commission back to you as a commission rebate. The following fund tables detail which of the above charges will apply to your selected investments For more details on charges, please refer to the detailed charges information that can be found in the 'Doing Business with FundsNetwork' document and Fund Specific Information documents and/or Key Investor Information documents (KIID) which must be read in conjunction with this illustration. 3

4 The effect of charges on your FundsNetwork ISA This section aims to show you how the charges for your investments might affect their growth, giving first a combined view of all the funds in this illustration, and then a more detailed view of each fund. The first table on the left shows the total invested as a lump sum and/or monthly savings plan in this illustration, and the effective total initial and ongoing charges. The total ongoing charges are based on all the ongoing charges applicable to each fund (as shown in the detailed fund tables following), and the weighting of each fund, to approximate an overall ongoing charge. Please note that the total ongoing charges are calculated in the order that the charges are actually applied (e.g. OCF/TER and other expenses first, then Service Fee, then Adviser Ongoing Fee), rather than by simply adding up the values in the detailed fund tables. The total initial charges are calculated in a similar way (e.g. Adviser Initial Fee first, then any fund based charge or ETP Dealing Fee), noting that the total initial charge is calculated as being applied to 'What you will pay'. The table on the right uses a weighted growth rate for the projection of your investments in this account based on the weighting and assumed growth rate of each fund shown in the table relating to that fund. The table summarises 'What you will pay' (including the amounts invested and any adviser or intermediary Initial Fees that are paid in addition to the investment amounts) and an approximation for 'What you might get back' if the fund grows at the weighted growth rate and the relevant initial and ongoing charges are deducted. Please note that the real growth rate of each fund will depend on future movements in share prices, which can go down as well as up - therefore the projections should only be considered as examples, are not guaranteed, and are not minimum or maximum amounts. You should also bear in mind that inflation will reduce what you could buy in the future with the amounts shown. FundsNetwork ISA Account Investment amount Lump sum 15,240 Monthly Savings Plan N/A Initial and dealing charges Total initial charges (lump sum) 0.00% Ongoing charges Total ongoing charges 1.54% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.61%, reducing it from 5.00% to 3.39%. At end of year What you will pay Income reinvested Effect of charges What you might get back at 5.00% 1 15, , ,240 1, , ,240 3,130 1,440 17, ,240 6,830 3,550 21,200 The detailed fund tables, following next, show how the charges for buying and owning each particular fund might affect the growth of that fund using an example growth rate. Each fund is projected at the middle growth rate used in the 'your personal account projection' section. This is the standard mid growth rate set by the Financial Conduct Authority for funds investing mainly in equities or shares, and a lower mid growth rate for funds investing predominantly in bonds or cash. Considering each fund in isolation and using standard growth rates for similar types of fund helps to demonstrate the effect of charges on the growth of each fund, and makes it easier to compare one set of fund charges with another. However note that these projections do not show what the value of each fund might actually be in the future - the real growth rate of each fund will depend on that fund's future performance, which is unknown. Also the tables assume that any adviser or intermediary Ongoing Fee will be spread proportionally across all your funds. In practice we will take the adviser or intermediary Ongoing Fee either from a single fund or your CashManager Account. The charge will have a greater effect on a fund where the fee is actually deducted from and a lesser effect on other funds. For each fund, the tables on the left list the initial and ongoing charges that will be included in each projection. If you have agreed to pay your adviser or intermediary an Ongoing Fee, then some of the charge that the fund manager pays to us may be rebated back into your account. If you have agreed to pay your adviser or intermediary a fixed Initial Fee or a fixed Ongoing Fee relating to the funds in this illustration then this will be apportioned to the funds in the illustration according to the initial weighting of each fund. For each fund, the tables on the right will summarise 'What you will pay' (including the lump sum and monthly savings plan (MSP) amounts invested and any adviser or intermediary Initial Fee that is paid in addition to the investment amount) and 'What you might get back' if the fund grows at the example growth rate and the initial and ongoing charges shown in the corresponding table on the left are deducted. Notes: All projected figures are rounded down and shown to 3 significant figures. If you have selected for income to be paid out and the amount of the income plus the amount of the charges paid is more than the amount your investment increases in any year, then the value of your investment (shown in the 'What you might get back' column) will reduce. Ongoing charge figures/ total expense ratios (OCF/TER) are supplied to us semi-annually by fund providers, however they can sometimes change materially during the intervening period. The most up-to-date charges can be obtained directly from the fund provider. For some funds there may be other charges to pay that are not included in these illustrations. These can include performance fees and the additional bid/offer spread applied to dual priced funds. Note that for such investments the figures shown in the 'What you might get back' column would be lower if these other charges were incorporated. 4

5 Artemis Global Income Fund Class I Inc Investment amount Lump sum 2,540 Monthly Savings Plan (MSP) Initial charges N/A Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% Ongoing charges Ongoing Figure (OCF) / Total Expense Ratio (TER) 0.84% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.66%, reducing it from 5.00% to 3.34%. At end of year What you will pay Income reinvested Effect of charges What you might get back at 5.00% 1 2, , , , , , ,540 1, ,520 Service Fee (not inc in OCF/TER) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the OCF/TER CF Woodford Equity Income Fund C Inc Investment amount Lump sum 2,540 Monthly Savings Plan (MSP) Initial charges N/A Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% Ongoing charges Ongoing Figure (OCF) / Total Expense Ratio (TER) 0.75% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.56%, reducing it from 5.00% to 3.44%. At end of year What you will pay Effect of charges What you might get back at 5.00% 1 2, , , , , , , ,560 Service Fee (not inc in OCF/TER) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the OCF/TER JOHCM UK Equity Income Fund Y Dist Investment amount Lump sum 2,540 Monthly Savings Plan (MSP) Initial charges N/A Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% Ongoing charges Ongoing Figure (OCF) / Total Expense Ratio (TER) 0.655% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.47%, reducing it from 5.00% to 3.53%. At end of year What you will pay Income reinvested Effect of charges What you might get back at 5.00% 1 2, , , , , , ,540 1, ,590 Service Fee (not inc in OCF/TER) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the OCF/TER 5

6 Marlborough Multi Cap Income Fund P Inc Investment amount Lump sum 2,540 Monthly Savings Plan (MSP) Initial charges N/A Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% Ongoing charges Ongoing Figure (OCF) / Total Expense Ratio (TER) 0.79% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.61%, reducing it from 5.00% to 3.39%. At end of year What you will pay Income reinvested Effect of charges What you might get back at 5.00% 1 2, , , , , , ,540 1, ,540 Service Fee (not inc in OCF/TER) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the OCF/TER Newton Emerging Income Fund Institutional W Inc Investment amount Lump sum 2,540 Monthly Savings Plan (MSP) Initial charges Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% N/A Ongoing charges Rebate Ongoing Figure (OCF) / Total Expense Ratio (TER) 0.87% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.61%, reducing it from 5.00% to 3.39%. At end of year What you will pay Income reinvested Effect of charges What you might get back at 5.00% 1 2, , , , , , ,540 1, ,540 Negotiated Fund Manager Discount 0.075% Service Fee (not inc in OCF/TER) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the OCF/TER 6

7 Schroder Asian Income Fund Z Income Investment amount Lump sum 2,540 Monthly Savings Plan (MSP) Initial charges N/A Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% Ongoing charges Ongoing Figure (OCF) / Total Expense Ratio (TER) 0.94% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.76%, reducing it from 5.00% to 3.24%. At end of year What you will pay Income reinvested Effect of charges What you might get back at 5.00% 1 2, , , , , , ,540 1, ,490 Service Fee (not inc in OCF/TER) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the OCF/TER 7

8 s on your FundsNetwork ISA s payable to your adviser or intermediary You have agreed a rate for an Initial Fee and an Ongoing Fee with your adviser or intermediary. The Initial Fee may be a percentage of the amount invested, or a fixed monetary amount. For lump sum investments an Initial Fee would be added to the lump sum investment amount (thereby increasing the amount you must pay). For monthly savings plan investments an Initial Fee would be deduced from the monthly payment you make. For transfers an Initial Fee would be deducted from the transfer proceeds we receive from another provider. The Initial Fee you will pay to your adviser or intermediary is illustrated below. The Ongoing Fee may be a percentage of the value of your investments, or a fixed monetary amount, and is charged on a monthly basis. This fee is paid from a fund that has been selected by you, or else it will be deducted from your CashManager Account if you have one, or the largest fund in this account. Note that percentage based Ongoing Fees will vary with the performance of the funds chosen. In the illustration below we provide an example of what your adviser or intermediary will receive if there is no investment growth in the first year, and also what your adviser or intermediary will receive if your investment doubles in value in the first year. Total amount invested in year 1 (includes lump sum and MSP) Adviser Initial Fee Fee Rate Total fee paid in year 1 Adviser Ongoing Fee rate Adviser Ongoing Fee Total fee paid if 0% growth in year 1 Total fee paid if 100% growth in year 1 15, % % Platform fees payable to FundsNetwork FundsNetwork receives a Service Fee, charged on an ongoing basis, in return for providing platform services and is paid to us, where applicable, for custodian services, and other ancillary support activities associated with your investment. These activities include - performing servicing transactions, the safeguarding of your holdings, the provision of reports and statements and access to FundsNetwork personnel in relation to any queries you may have on your account. For funds where the Service Fee is payable in addition to the OCF/TER, then it is displayed as a separate charge on your statement, and is paid from a fund that has been selected by you, or the largest fund in this account. For some funds the Service Fee is included in the OCF/TER charged by the fund provider, and therefore will not show as a separate charge on your statement. Since the Service Fee is a percentage of the value of your investments, it will vary with the performance of the funds chosen. In the illustration below we provide an example of what FundsNetwork will receive if there is no investment growth in the first year, and also what we will receive if your investment doubles in value in the first year. Total amount invested in year 1 (includes lump sum and MSP) Service Fee paid as part of the OCF/TER Total fee paid if 0% growth in year 1 Total fee paid if 100% growth in year 1 Service Fee paid in addition to the OCF/TER Total fee paid if 0% growth in year 1 Total fee paid if 100% growth in year 1 15, Investor Fee Note that in addition to the Service Fee shown above that relates to the funds illustrated in this section, you will also pay an Investor Fee of 0.0 per year to FundsNetwork in relation to the investments that you hold with this adviser or intermediary. If this account is in your sole name, you will pay one Investor Fee irrespective of the number of single accounts in which you invest. If this account is in joint names, only one Investor Fee is payable across multiple accounts where the individuals named on those accounts are the same. If you are a holder of multiple joint accounts, but the individuals named on those accounts differ, an additional Investor Fee will be payable for each different combination of named account holders. 8

9 Fund information We provide you with the essential information you need to know about the fund in either our 'Fund Information' section where you will find a 'Fund Table' and/or in a Key Investor Information Document (KIID). If a performance fee (or charge) is applied to the fund, this information will be detailed in the KIID and in the Fund Table under "Risk factors". Fund Tables The fund tables provide key information about each fund, such as the fund's objectives, charges and risks. Key Investor Information Document (KIID) The KIID is a short document containing the essential characteristics of an investment fund to help you understand the nature and the risks of investing. This will include the fund objectives, risk factors, charges, and performance history. The charges could be different from the charges you pay when investing through FundsNetwork. Where a charge appears in the 'Effect of charges' section and in the KIID, the charges stated in the 'Effects of charges' section are the charges that will apply to your investment. More detailed information is available in the Fund Prospectus which you can obtain from the relevant fund provider. 9

10 Key Investor Information This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and risks of this fund. You are advised to read it so you can make an informed decision about whether to invest. Artemis Global Income Fund Class I Distribution Units [ISIN: GB00B5N99561], I Accumulation units [ISIN: GB00B5ZX1M70] The fund is managed by Artemis Fund Managers Limited. Objectives and investment policy Objective: The fund aims to increase the value of units and the income paid from them over the long term. Policy: The fund will principally invest (a minimum of 80%) in company shares anywhere in the world. The fund has discretion in its choice of investments and is not restricted by the size of the company, the industry it trades in, or the geographical spread of the portfolio. The fund may invest in fixed interest securities which are investments (which could be issued by a company, a government or another entity) that pay a fixed level of income or interest. The fund may invest in derivatives (financial instruments whose value is linked to the expected price movements of an underlying asset) to meet its investment objective, to protect the value of the fund, reduce costs and/or generate additional income. Other information: Investment in the fund should be regarded as a medium to long-term investment. Class I units are only available to investors at Artemis Fund Managers Limited s discretion. You can buy and sell units Monday to Friday, except on UK Public holidays, each week. Transactions are processed at 12 noon and we will include your instruction to buy or sell units if it is received before that point. If you hold accumulation units any income the fund receives is reinvested into the fund and automatically reflected in the value of the units. If you hold distribution units any income the fund receives can be paid out to you. For further explanation of some of the terms used above, please visit our website artemis.co.uk to view a glossary of terms. Risk and reward profile Typically lower rewards Lower 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. The risk category shown is not guaranteed and may change over time. A risk indicator of 1 does not mean that the investment is risk free. The indicator is not a measure of the possibility of losing your investment. The risk indicator for the fund is as above because: Higher risk The price of units, and the income from them, can fall and rise because of stockmarket and currency movements. Stockmarket prices, currencies and interest rates can move irrationally and can be affected unpredictably by diverse factors, including political and economic events. A portion of the fund s assets may be invested in a currency other than the fund s accounting currency (sterling). The value of these assets, and the income from them, may decrease if the currency falls in relation to sterling, in which the fund is valued and priced. A portion of the fund s assets may be invested in new, emerging markets. Investment in emerging markets can involve greater risk than that usually associated with more established markets. This means that above-average rises and falls in unit prices can be expected. Investments in fixed interest securities are subject to market and credit risk and will be impacted by movements in interest rates. Interest rate movements are determined by a number of economic factors, in particular market expectations of future inflation. The fund can invest in higher-yielding bonds, which may increase the risk to your capital due to a higher likelihood of the company issuing the bonds failing to pay returns on investments. Changes to market conditions and interest rates can have a larger effect on the values of higheryielding bonds than other bonds.

11 s for the fund The charges you pay are used to pay the costs of running the fund, including the costs of marketing and distributing it. The charges reduce the potential growth of your investment. The entry charge is included in the purchase price of each unit. At present, there is no exit charge. The entry and exit charges shown are maximum figures. One-off charges taken before or after you invest Entry charge 1.00% Exit charge 0.00% This is the maximum that might be taken out of your money before it is invested. s taken from the fund over a year Ongoing charges 0.84% s taken from the fund under certain specific conditions Performance fee None In some cases (including when switching to other funds run by Artemis Fund Managers Limited) you might pay less you can find out actual entry and exit charges from your financial adviser. The ongoing charges figure is based on the expenses for the year ending 31 December Ongoing charges may vary from year to year and reduce the potential growth of your investment. The figure for ongoing charges excludes costs associated with buying and selling securities in the fund s underlying portfolio (for example, brokers commission and transaction taxes), except in the case of an entry/exit charge paid by the fund when buying or selling units in another collective investment undertaking. To provide levels of income consistent with the fund s aims, we take the annual management charge from capital. This will restrict the increase in the value of units. For more information about charges, please see section 15 of the fund s prospectus, which is available at Past performance Percentage change 35% 30% 25% 20% 15% 10% 5% 0% 15.6% 33.7% 12.9% This fund was launched on 19 July How the fund has performed in the past is not a guide to how it will perform in the future. Past performance in the chart shown includes all charges except entry charges. This past performance chart is calculated using the performance of distribution units. Performance is calculated in sterling. -5% -10% -4.7% Practical information The Trustee of the fund is National Westminster Bank plc. Further information about the fund can be obtained from the fund s prospectus and the latest annual and half-yearly reports. The documents are in English and available free of charge. These can be found, along with other information such as the price of the fund s units, at artemis.co.uk or by phoning UK tax legislation may have an impact on your personal tax position. Artemis 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. You can switch your investments between funds or types of shares or units in the Artemis range. For further information, please refer to the prospectus, artemis.co.uk or phone The fund is authorised in the UK and regulated by the Financial Conduct Authority. Artemis Fund Managers Limited is authorised in the UK and regulated by the Financial Conduct Authority. This key investor information is accurate as at 31 December AGIID

12 Key Investor Information This document provides you with the 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. CF Woodford Equity Income Fund, C Income, a fund within CF Woodford Investment Fund (ISIN: GB00BLRZQ620) The fund is managed by Capita Financial Managers Limited, part of the Asset Services Division of Capita plc. Objectives and investment policy Objective The fund aims to provide a reasonable level of income together with capital growth. Investment Policy The fund will invest primarily in the shares of companies listed in the United Kingdom. It may also invest in derivatives, though it is not anticipated that such use will have a significant adverse effect on the risk profile of the fund. Essential features of the fund: The fund has the discretion to invest in a range of investments as described above with no need to adhere to a particular benchmark. Risk and reward profile You can buy and sell shares in the fund every business day. The fund aims to distribute available income every quarter. Derivatives may be used to manage the risk profile of the fund, reduce costs or generate additional income. Recommendation: This fund may not be appropriate for investors who plan to withdraw their money within 5 years. Counterparty Risk: As the fund may enter into derivative agreements there is a risk that other parties may fail to meet their obligations. This may lead to delays in receiving amounts due to the fund, receiving less than is due or receiving nothing. This indicator shows how much a fund may have risen and fallen in the past, and therefore how much a fund's returns may have varied. It is a measure of a fund's volatility. The higher a fund's past volatility the higher the number on the scale and the greater the risk that investors in that fund may have made losses as well as gains. The lowest number on the scale does not mean that a fund is risk free. The fund has been classed as 5 because its volatility has been measured as above average. Currency Risk: As the fund invests in overseas securities movements in exchange rates may, when not hedged, cause the value of your investment to increase or decrease. Illiquid Asset Risk: Investment in illiquid assets, where there is no active market, may be more difficult to buy and sell and their prices may also be subject to large short term swings. For full details of the fund's risks, please see the prospectus which may be obtained from the address in 'Practical Information' overleaf. This indicator is based on historical data and may not be a reliable indication of the future risk profile of this fund. The risk and reward profile shown is not guaranteed to remain the same and may shift over time. Version 2.0

13 s for this Fund The charges you pay are used to pay the costs of running the fund. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest Entry Exit Past performance None None s taken from the fund over the year Ongoing s 0.75% s taken from the fund under certain specific conditions Performance Fee None The ongoing charges figure is fixed at 0.75%. This figure may vary from year to year. The ongoing charges are taken from the capital of the fund. They exclude portfolio transaction costs, except in the case of an entry/exit charge paid by the fund when buying or selling units in another collective investment undertaking. A dilution adjustment may be made which may increase or decrease the price you receive when you buy or sell shares in the fund. For more information about charges, please see the prospectus Sections 25 & 26, which may be obtained free of charge from the address in 'Practical Information' below. Because the share class has less than one calendar year's performance, there is insufficient data to provide a useful indication of past performance. Launch date for the fund: 2 June Practical information CF Woodford Investment Fund This key investor information document describes a fund within the CF Woodford Investment Fund company. The prospectus and periodic reports are prepared for the entire company. Documents Copies of the prospectus for the fund and CF Woodford Investment Fund may be obtained from or Capita Financial Managers Limited, 2 The Boulevard, City West One Office Park, Gelderd Road, Leeds, LS12 6NT. This document is available in English and is free of charge. Prices of shares and further information Right to switch Depositary Tax The latest published prices of shares in the fund and other information, including how to buy and sell shares, are available from or during normal business hours from Capita Financial Managers Limited, 2 The Boulevard, City West One Office Park, Gelderd Road, Leeds, LS12 6NT or by calling Subject to any restrictions on the eligibility of investors for a particular share class, a shareholder may be able at any time to convert all or some of his shares for shares in another class. Please see the prospectus for full details. Northern Trust Global Services Limited UK tax legislation may have an impact on your personal tax position. Liability Capita Financial 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 CF Woodford Investment Fund. This fund is authorised in the United Kingdom by the Financial Conduct Authority. Capita Financial Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at 23/02/2015 Version 2.0

14 KEY INVESTOR INFORMATION This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. JOHCM UK Equity Income Fund Y Distributing GB00B95FCK64 A sub-fund of J O Hambro Capital Management UK Umbrella Fund Managed by J O Hambro Capital Management Limited 18 February 2015 Objectives and investment policy The objective of the Fund is to achieve long-term capital appreciation and generate an above average dividend yield, which will grow over time. The Fund will aim to achieve this objective mainly through investments in equity securities that are listed on the London Stock Exchange (or other relevant UK exchanges). The vast majority of stocks selected will be constituents of the FTSE350 Index although there is likely to also be a number of smaller company stocks. Performance of the Fund will be measured against the FTSE All Share Total Return Index (the UK Index ). At all times at least two thirds of the Fund s total assets will be invested in equity securities of companies domiciled or exercising the predominant part of their economic activity in the United Kingdom. The Fund will exclusively concentrate on stocks that generate a prospective yield above that of the FTSE All Share average, with a strict selling discipline once a stock s yield falls below the average level. This approach will naturally give the Fund a contrarian style and also means that the portfolio will be very different from the UK Index. Any income the Fund generates for this share class will be paid out quarterly. You can buy and sell shares in the Fund, before 5.30pm, on any day which is a working day in London. Risk and reward profile Lower risk Higher risk Typically lower rewards Typically higher rewards The risk and reward indicator is calculated on the basis of the share class volatility (the ups and downs in its value) over the prior 5 year period. The risk and reward indicator: is based on simulated historical performance data and may not be a reliable indication for the future; is not guaranteed and may change over time. As this share class has not been in existence for 5 years, simulated performance data has been used. The lowest category does not mean that a share class is risk free. The share class category reflects the following factors: Higher volatility can result from investments in shares as their value may fluctuate more than other financial instruments, such as bonds. Your initial investment is not guaranteed. In addition to the risk captured by the indicator, the fund value may be affected by: Any change in the Company s tax status or in legislation could affect the value of investments held by the Company. Political and /or regulatory Risks. Investors should note that a more detailed description of risk factors is set out in full in the Prospectus.

15 s 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. Consult your financial advisor or distributor for the actual amount they may charge. s taken from the fund over a year Ongoing charge 0.67% s taken from the fund under certain conditions Performance fee 15.00% The charges you pay as an investor in the Fund are used to cover the operational costs of the Fund, including marketing and distribution costs. These charges reduce the potential growth of your investment. Ongoing charges are based on figures for the year ended 31 December This figure may vary from year to year and does not include Fund transaction costs. For more information about charges see the Fund s prospectus, available at A performance fee of 15% is payable on the excess if the NAV outperforms the benchmark on an annual basis. The calculation is performed daily. Any underperformance is carried forward. This fee applies to all share classes. The benchmark is the FTSE All Share TR Index. Past performance Performances (%) 0.2% 0.15% 0.1% 0.05% 0.2 Past performance is not a reliable guide to future performance. These performance results include ongoing charges and any performance fee taken from the Fund but do not include any entry charges that you might have to pay. The share class came into existence in 2013 and funded in Past performance has been calculated in GBP. 0.0% JOHCM UK EQUITY INCOME FUND - Y Distributing Practical information Depositary: Northern Trust Global Services Limited J O Hambro Capital Management UK Umbrella Fund (the Company ) is structured as an umbrella fund with several sub-funds. The assets and liabilities of the Fund are segregated from other sub-funds within the umbrella, however, other jurisdictions may not necessarily recognise such segregation. The prospectus and periodic reports are prepared for the entire Company. This Key Investor Information document refers to one sub-fund of the Company. The following information is available free of charge at The prospectus, annual and semi-annual reports for the Company. Hard copies are available upon written request to the Investment Manager or the Administrator. Information on other share classes of this fund or other sub-funds of the Company. Share price. Further information is available from the administrator, RBC Investor Services Ireland Limited, George s Quay House, 43 Townsend Street, Dublin 2, Ireland. Tax legislation in the Company s home state (United Kingdom) may have an impact on your personal tax position. Consult your financial or professional adviser for more information on taxation. J O Hambro Capital Management Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the Company. The Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. The registered office of the Company is Ground Floor, Ryder Court, 14 Ryder Street, London, SW1Y 6QB This Key Investor Information is accurate as at 18 February 2015.

16 Key Investor Information This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Marlborough Multi Cap Income Fund, Class P Shares a sub-fund of the Marlborough No2 OEIC (ISIN Income GB00B908BY75, Accumulation GB00B907VX32) This fund is managed by Marlborough Fund Managers Ltd Objectives and Investment Policy The Marlborough Multi Cap Income Fund aims to seek to generate an attractive and growing level of dividend income in addition to long term capital growth by investing in a diversified portfolio of equities predominantly listed in the UK. The fund will invest primarily in the shares of small to medium capitalisation companies where both capital and dividend growth are anticipated. The fund may also invest in, but is not limited to, the shares of large capitalisation companies as well as cash and near cash. The Marlborough Multi Cap Income Fund pays income. If you wish to receive this please tell us. If you do not want to receive income you will be given accumulation shares which means income is invested back into the fund and reflected in the price of your shares. You can sell all or part of your investment whenever you like subject to the minimum holding requirements. The fund may invest in derivatives and forward transactions for the reduction of risk or costs. It is intended that the fund will be managed so that it is eligible for quotation within the Investment Association's UK Equity Income Sector. The Investment Adviser to the fund decides which investments to buy and when within the constraints of the objectives and policy. Risk and Reward Profile Lower risk Typically lower rewards Higher risk Typically higher rewards The risk and reward indicator above aims to provide you with an indication of the overall risk and reward profile of the fund. It is calculated based on the volatility of the fund using weekly historic returns over the last five years. If five years data is not available for a fund, the returns of a representative portfolio are used. As the risk and reward indicator is calculated based on historical data it may not be a reliable indication of the future risk profile of the fund. The risk category shown is not guaranteed and may change over time. The lowest category does not mean risk free. The fund invests mainly in the UK. Therefore it may be more vulnerable to market sentiment in that country. To ensure that the principal objective of providing an above average and subsequently increasing level of income can be met, the annual Manager s charge is deducted from capital rather than income. Future capital growth may be constrained as a result. A more detailed description of the risks that apply to this fund can be found in the prospectus. The value of investments and the income from them may fall as well as rise and you may not get back the amount you originally invested. This fund has been measured as 5 because it has experienced significant volatility historically. The fund invests in smaller companies which carry a higher degree of risk than larger companies. The shares of smaller companies may be less liquid and their performance more volatile over shorter time periods.

17 s 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 1.00% Exit charge None This is the maximum that might be taken out of your money before it is invested. s taken from the fund over a year Ongoing charges 0.79% s taken from the fund under certain specific conditions The entry and exit charges shown are maximum figures. In some cases you may pay less - you can find this out from your financial adviser. The ongoing charges figure is based on expenses for the year ending 31/07/2014. This figure may vary from year to year. It excludes: Portfolio transaction costs, except in the case of an entry/exit charge paid by the UCITS when buying or selling units in another collective investment undertaking. For more information about charges, please see Sections of the fund s prospectus, which is available at Performance fee None Past Performance Past performance is not a guide to future returns. Performance figures are calculated in Sterling on a bid price basis and include net reinvested income. They include the annual management charge and all other fund expenses but do not include the entry charge. The fund was launched on 1 July This Share Class was launched on 31 December 2012 and first priced on 2 January As Class P shares were first priced on 2 January 2013, 5 complete years of past performance information is not available. Therefore past performance information for Class A shares has been used for the period Practical Information The minimum investment is 1,000,000. If you wish to sell all or part of your investment please write to us at Marlborough House, 59 Chorley New Road, Bolton, BL1 4QP or telephone Your deal will be placed at the next valuation point after we receive your instruction. The valuation point is at 12 noon on each dealing day, as set out in the prospectus. The Depositary for the fund is HSBC Bank Plc. The prospectus, short report and annual report and accounts for the fund are available free of charge at or by calling The documents are available in English only. UK taxation may have an impact on your personal tax position. Fund prices are available on our website Some price information is also published in the Financial Times. You may switch to any fund in the Marlborough range on request, subject to a switching charge. Other share classes of the fund are available. For further details please see the fund s Prospectus which is available at Prospectus, Annual and Half-Yearly Reports cover all the funds within Marlborough No 2 OEIC. The sub-funds of the OEIC are segregated by law. In the unlikely event of one sub-fund having debts, the assets of the other funds may not be used to settle these. For further details including how to invest please see the Supplementary Information Document which is available at or call Marlborough Fund Managers Ltd may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the UCITS. This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Marlborough Fund Managers Ltd is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at