Doing Business with FundsNetwork

Transcription

1 Doing Business with FundsNetwork Including the Key Features of the Investment Fund Account and ISA For individual investors with an adviser or intermediary This document must be read in conjunction with the FundsNetwork Client Terms. Date: 21 February 2014 Document prepared for: Mr Mark Betts Adviser name: ISA Ltd FundsNetwork ISA Fund Name Lump Sum Monthly Savings Plan Aberdeen Asia Pacific Equity I Acc 1,920 Artemis UK Growth Fund Class I Acc 1,920 Henderson European Special Sit I Acc 1,920 Invesco Perpetual Global Smaller Companies (Z) Acc 1,920 JPM Emerging Markets Fund B - Net Accumulation 1,920 Neptune Japan Opportunities C Acc 1,920 Total Investment Amount 11,520 Adviser Initial Fee 0 What you will pay 11,520

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 growth rates set by the Financial Conduct Authority. However, for funds where we believe the standard growth rates are not realistic, we use lower growth rates. This includes funds investing predominantly in bonds or cash. 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 the 'effect of charges' section of 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 5.00% 7.00% 9.00% Aberdeen Asia Pacific Equity I Acc 1,920 1,920 2,590 3,130 3,770 Artemis UK Growth Fund Class I Acc 1,920 1,920 2,660 3,210 3,870 Henderson European Special Sit I Acc 1,920 1,920 2,600 3,140 3,780 Invesco Perpetual Global Smaller Companies (Z) Acc JPM Emerging Markets Fund B - Net Accumulation 1,920 1,920 2,630 3,180 3,820 1,920 1,920 2,570 3,110 3,740 Neptune Japan Opportunities C Acc 1,920 1,920 2,620 3,170 3,810 Total 11, ,520 15,670 18,940 22,790 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. 2

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9 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 tables following), and the weighting of each fund, to approximate an overall ongoing charge. The total initial charges are calculated in a similar way, 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 11,520 Monthly Savings Plan N/A Initial charges Total initial charges (lump sum) 0.00% Ongoing charges Total ongoing charges 1.78% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.89%, reducing it from 7.00% to 5.11%. At end of year What you will pay Effect of charges to date What you might get back at 7.00% 1 11, , , , ,520 1,370 14, ,520 3,690 18,900 The detailed 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 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. Annual management charges (AMCs) and other expenses 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. 9

10 Aberdeen Asia Pacific Equity I Acc Investment amount Lump sum 1,920 Monthly Savings Plan (MSP) N/A Initial charges Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% Ongoing charges Annual Management (AMC) 1.00% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.98%, reducing it from 7.00% to 5.02%. At end of year What you will pay Effect of charges to date What you might get back at 7.00% 1 1, , , , , , , ,130 Other expenses 0.12% Service Fee (not inc in AMC) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the Annual Management Artemis UK Growth Fund Class I Acc Investment amount Lump sum 1,920 Monthly Savings Plan (MSP) N/A Initial charges Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% Ongoing charges Annual Management (AMC) 0.75% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.70%, reducing it from 7.00% to 5.30%. At end of year What you will pay Effect of charges to date What you might get back at 7.00% 1 1, , , , , , , ,210 Other expenses 0.10% Service Fee (not inc in AMC) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the Annual Management Henderson European Special Sit I Acc Investment amount Lump sum 1,920 Monthly Savings Plan (MSP) N/A Initial charges Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% Ongoing charges Annual Management (AMC) 0.75% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.93%, reducing it from 7.00% to 5.07%. At end of year What you will pay Effect of charges to date What you might get back at 7.00% 1 1, , , , , , , ,140 Other expenses 0.32% Service Fee (not inc in AMC) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the Annual Management 10

11 Invesco Perpetual Global Smaller Companies (Z) Acc Investment amount Lump sum 1,920 Monthly Savings Plan (MSP) N/A Initial charges Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% Ongoing charges Annual Management (AMC) 0.75% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.83%, reducing it from 7.00% to 5.17%. At end of year What you will pay Effect of charges to date What you might get back at 7.00% 1 1, , , , , , , ,180 Other expenses 0.22% Service Fee (not inc in AMC) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the Annual Management JPM Emerging Markets Fund B - Net Accumulation Investment amount Lump sum 1,920 Monthly Savings Plan (MSP) N/A Initial charges Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% Ongoing charges Annual Management (AMC) 1.00% In this example the charges would have the effect of bringing the illustrated investment growth down by 2.05%, reducing it from 7.00% to 4.95%. At end of year What you will pay Effect of charges to date What you might get back at 7.00% 1 1, , , , , , , ,110 Other expenses 0.18% Service Fee (not inc in AMC) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the Annual Management 11

12 Neptune Japan Opportunities C Acc Investment amount Lump sum 1,920 Monthly Savings Plan (MSP) N/A Initial charges Initial charge inside ISA (lump sum) 0.00% Adviser Initial Fee (lump sum) 0.00% Ongoing charges Annual Management (AMC) 0.75% In this example the charges would have the effect of bringing the illustrated investment growth down by 1.86%, reducing it from 7.00% to 5.14%. At end of year What you will pay Effect of charges to date What you might get back at 7.00% 1 1, , , , , , , ,170 Other expenses 0.25% Service Fee (not inc in AMC) * 0.25% Adviser Ongoing Fee 0.50% * This is the rate that will be applied to your holdings in addition to the Annual Management 12

13 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 11, % % Platform fees payable to FundsNetwork FundsNetwork receives a Service Fee, charged on an ongoing basis, in return for providing platform services such as the administration of your assets. For funds where the Service Fee is payable in addition to the AMC, 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 AMC 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 AMC 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 AMC Total fee paid if 0% growth in year 1 Total fee paid if 100% growth in year 1 11, Investor Fee Note that in addition to the Service Fee shown above that relates to the funds illustrated in this document, you will also pay an Investor Fee of 45.0 per year to FundsNetwork. 13

14 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' 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 and risks. Information about charges can be found in the 's and expenses' section. The actual charges that will apply to your investments can be found in the 'Effects of charges' section. 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. 14

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. Aberdeen Asia Pacific Equity I Acc (ISIN GB00B0XWNG99) Aberdeen Asia Pacific Equity I Inc (ISIN GB00B88N7058) A sub-fund of Aberdeen Investment Funds ICVC. Aberdeen Fund Managers Limited is the Authorised Corporate Director that manages the Fund. Objectives and investment policy To grow your capital by investing mostly in companies in the countries of the Asia Pacific region, excluding Japan. The Fund may invest in some countries that are still developing their economies. Recommendation: This Fund may not be appropriate for investors who plan to withdraw their money within 5 years. Risk and reward profile The Risk and Reward Indicator table demonstrates where the Fund ranks in terms of its potential risk and reward. The higher the rank the greater the potential reward but the greater the risk of losing money. It is based on past data, may change over time and may not be a reliable indication of the future risk profile of the Fund. The shaded area in the table below shows the Fund s ranking on the Risk and Reward Indicator. If you invest in income shares, income from investments in the Fund will be paid out to you. If you invest in accumulation shares, income will be rolled up into the value of your shares. Typically lower rewards, lower risk Typically higher rewards, higher risk You can buy and sell shares in the Fund, before 5pm, on any day which is a working day in London. Further information on the Fund s investment objective and policy are detailed in the Prospectus This Fund is ranked at 6 because funds of this type have experienced high rises and falls in value in the past. Please note that even the lowest risk class can lose you money and that extreme market circumstances can mean you suffer severe losses in all cases. The indicator does not take into account the following risks of investing in this Fund: Exchange Rates: Investing globally can bring additional returns and diversify risk. However, currency exchange rate fluctuations may have a positive or negative impact on the value of your investment. Emerging Markets: Emerging markets or less developed countries may face more political, economic or structural challenges than developed countries. This may mean your money is at greater risk. A full list of risks applicable to this Fund can be found in the Prospectus. Page 1 of 2.

16 s 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 s 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 figure is as at 31/12/13. s taken from the Fund over a year Ongoing charges 1.13% s taken from the Fund under specific conditions Performance fee NIL Past performance % You should be aware that past performance is not a guide to future performance. Fund launch date: 01/04/1987. Share/unit class launch date: 05/07/2006. Performance is calculated in GBP. Performance, which is based on Accumulation share class, is net of charges (excluding entry charge) and net of tax Fund Source: FE 2014 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 ICVC offers a range of funds with diversified investment objectives. The Prospectus, Annual and Half-Yearly reports cover all the funds within Aberdeen Investment Funds ICVC. 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 14/02/2014. KV68 Page 2 of 2.

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 risks of this fund. You are advised to read it so you can make an informed decision about whether to invest. Artemis UK Growth Fund Class I Accumulation units [ISIN: GB00B2PLJG05] The fund is managed by Artemis Fund Managers Limited. Objectives and investment policy Objective: The fund aims to increase the value of units over the long term. Policy: The fund will principally invest (a minimum of 80%) in the shares of companies listed, quoted or traded in the UK. The fund may also invest in the shares of companies listed, quoted and/or traded in the UK but domiciled elsewhere. The fund has discretion in its choice of investments, and is not restricted by the size of the company or the industry it trades in. The fund may seek to profit from short positions in assets (short exposure is where the fund tries to profit from a fall in the price of an asset). 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 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. Any income this fund receives is reinvested into the fund and automatically reflected in the value of units. 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. The fund may hold derivatives with the aim of profiting from falling prices. If the related assets rise in value the fund will lose money. Investing in small and medium-sized companies can involve more risk than investing in larger, more established companies. Shares in smaller companies are often not as easy to sell as shares in larger companies are. This can cause difficulty in buying, valuing and selling those shares. Also, reliable information for deciding their value or the risks may not be available. 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.

18 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. 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 0.82% s taken from the fund under certain specific conditions Performance fee None At present, there is no exit charge. The entry and exit charges shown are maximum figures. 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 stamp duty, currently 0.5%), except in the case of an entry/exit charge paid by the fund when buying or selling units in another collective investment undertaking. For more information about charges, please see pages 14 to 16 / section 15 of the fund s prospectus, which is available at Past performance Percentage change 50% 40% 30% 20% 10% 0% -10% -20% -30% -40% In the period to 1 September 2010, past performance is represented by the fund s R class units. 24.0% 13.6% 15.7% -4.7% -32.6% 26.0% 26.3% -2.7% 11.9% 37.5% This fund was launched on 3 April 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. Performance is calculated in sterling. 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 unit 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 AUGIA

19 Henderson 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. EUROPEAN SPECIAL SITUATIONS FUND Class I Acc ISIN: GB00B3Y8HP45 A sub-fund of Henderson OEIC, managed by Henderson Investment Funds Limited. Objectives and investment policy Objective Growth of your investment over the long term. Investment policy Under normal circumstances, the Fund invests primarily in: Shares of European (excluding UK) companies in any industry The Fund may also invest in: Shares of companies in other regions Collective Investment Schemes Money market instruments Bank deposits In choosing investments, the investment manager looks for stocks that appear to have greater potential to rise in price over the long term than is reflected in current market prices. The Fund may use investment techniques for efficient portfolio management or to manage risks. Designed for Investors who understand the Fund s risks, would like a European-focused investment and intend to invest their money for at least seven years. This fund is designed to be used only as one component in several in a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested into this fund. Fund currency GBP Share class currency GBP Terms to understand Collective Investment Schemes Funds that invest in shares and other securities from the UK and elsewhere. Money market instruments Liquid investments that pay interest and are designed to maintain a stable value. Shares Securities that represent fractional ownership in a company. Volatility How sharply the Fund s share price has gone up and down over a period, generally several years. You can buy, sell or switch shares in the Fund on any business day, as defined within the Definitions Section of the Fund s prospectus. The Fund offers accumulation shares (shares in which net income is retained within the price) and income shares (shares in which net income may be paid out to investors). Risk and reward profile Typically Lower potential risk/reward Lower Risk Typically Higher potential risk/reward Higher Risk The value of an investment in the Fund can go up or down. When you sell your shares they may be worth less than you paid for them. The risk/reward rating above is based on medium-term volatility. In the future, the Fund s actual volatility could be higher or lower and its rated risk/reward level could change. The lowest category does not mean risk free. The Fund s risk level reflects the following: The Fund focuses on a single region As a category, shares are more volatile than either bonds or money market instruments Fluctuations in exchange rates may cause the value of your investment to rise or fall The rating does not reflect the possible effects of unusual market conditions or large unpredictable events which could amplify everyday risk and trigger other risks such as: Counterparty risk The Fund could lose money if an entity with which it interacts becomes unwilling or unable to meet its obligations to the Fund. Liquidity risk Certain securities could become hard to value or sell at a desired time and price. Management risk Investment management techniques that have worked well in normal market conditions could prove ineffective or detrimental at other times. The full list of the Fund s risks are contained in the Risk Warnings section of the Fund s prospectus. 1of2

20 s Past performance The charges you pay are used to pay the costs of running the Fund, including the costs of managing and distributing it. These charges reduce the potential growth of your investment. If you invest through a third party provider you are advised to consult them directly as charges, performance and terms and conditions may differ materially to those shown in this document. 30% % One-off charges taken before or after you invest* Entry 0.00% Exit 0.00%** * The charges shown are maximum figures. In some cases you may pay less. ** Subject to a charge of up to 3.00% where the Manager suspects excessive trading by an investor (and specifically on subscriptions held for less than 90 days). Performance (%) 10% 0% -10% -20% -30% s taken from the Fund over a year Ongoing s 0.87% The ongoing charge figure is estimated because the share class has insufficient track record for us to calculate it exactly. The figure for ongoing charges excludes portfolio transaction costs, except in the case of an initial charge paid by the Fund when buying shares or units in another fund. For more information about charges, please see the s section of the Fund s prospectus. The Fund Year The past performance is calculated in GBP. The Fund and the share class were launched in October Past performance is not a guide to future performance. The past performance shown in the chart takes into account all charges except entry charges. Practical information Depositary: National Westminster Bank Plc. To obtain more information: This Key Investor Information Document may not contain all the information you need. For the last published price of shares in the Fund, or to obtain the annual/semi-annual report, please visit Documents are available free of charge in English and certain other languages. For a free copy of the Fund s prospectus please contact the registered office of the Fund at 201 Bishopsgate, London EC2M 3AE, UK or your local representative office. Tax: Investors should note that the tax legislation that applies to the Fund may have an impact on the personal tax position of their investment in the Fund. Contact your adviser to discuss tax treatment, suitability of this investment, and other questions. Notices: Henderson Investment 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 Fund. The assets of each sub-fund are segregated, meaning that each sub-fund is insulated from any losses or claims associated with the other sub-funds. To place transaction orders: You can place orders to buy, redeem or switch shares of this Fund by contacting your advisor or distributor, or us directly at Henderson Global Investors, PO BOX 9023, Chelmsford CM99 2WB or by calling our Investor Services team on Further information about dealing, other share classes of this Fund or other funds in this OEIC may be obtained by visiting or found in the Fund s prospectus. The Fund is authorised in the UK and regulated by the Financial Conduct Authority ( FCA ). Henderson Investment Funds Limited is authorised in the UK and regulated by the FCA. This Key Investor Information is accurate as at 10 February of2

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. Invesco Perpetual Global Smaller Companies Fund A sub-fund of the Invesco Perpetual Smaller Companies and Markets Investment Series ICVC Z Accumulation share class (ISIN: GB00B8N46D97) This Fund is managed by Invesco Fund Managers Limited, part of the Invesco Group. Objectives and Investment Policy - The objective of the Fund is to achieve capital growth - The Fund invests primarily in shares of smaller companies globally - The Fund may use derivatives (complex instruments) to manage the Fund more efficiently, with the aim of reducing risk, minimising costs or generating additional capital or income - The Fund is actively managed within its objectives and is not constrained by a benchmark - You can buy, sell and switch shares in the Fund on any UK business day - Any income is reinvested into the Fund - Recommendation: The Fund may not be appropriate if you plan to withdraw your money within 5 years Risk and Reward Profile Lower risk Typically lower rewards n n n n n Higher risk Typically higher rewards The risk category above is not a measure of capital loss or gains, but of how significant the rises and falls in the Share Class price have been historically For example a share class whose price has experienced significant rises and falls will be in a higher risk category, whereas a share class whose price has experienced less significant rises and falls will be in a lower risk category As the Share Class risk category has been calculated using historical data, it may not be a reliable indication of the Share Class future risk profile Please note that the Share Class risk category may change in the future and is not guaranteed. The lowest risk category does not mean a risk free investment The Share Class is in risk category 6 as its price has experienced very significant rises and falls historically Other risks n The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and you may not get back the full amount invested. Over time, inflation may erode the value of investments n Smaller company funds are higher risk than funds that can invest in larger company sizes. Market conditions, such as a decrease in market liquidity, may mean that it is not easy to buy or sell securities n Although the Fund invests mainly in established markets, it can invest in emerging and developing markets, where there is potential for a decrease in market liquidity, which may mean that it is not easy to buy or sell securities, as well as operational difficulties n The Fund may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of the Fund. The Manager, however, will ensure that the use of derivatives within the Fund does not materially alter the overall risk profile of the Fund n The Fund s performance may be adversely affected by variations in the relative strength of world currencies or if Sterling strengthens against those currencies n A more detailed description of risk factors that apply to this Fund is set out in Section 30 of the Prospectus

22 s The charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest Entry charge 5.00% Exit charge None Any charges shown are the maximum that might be taken out of your money before it is invested. s taken from the Fund over a year Ongoing charges 0.97% s taken from the Fund under certain specific conditions Performance fee None - The entry charge shown is a maximum figure. In some cases you might pay less - you can find this out from your financial adviser or distributor - The ongoing charges figure is based on expenses for the year ending 31 July This figure may vary from year to year and excludes portfolio transaction costs - If you switch funds within the Invesco Perpetual range you will be charged a maximum 1% entry charge on your new fund - For more information about charges, please see Appendix 1, sections E and F of the Fund s Prospectus, which is available at Past Performance % growth The Fund was launched on 22 September This Share Class was launched on 12 November The base currency of the Fund is Sterling - Performance figures are calculated in Sterling - Performance figures are calculated on a mid price basis and include net reinvested income. The calculation incorporates the annual management charge and all other Fund expenses but excludes the entry charge - Past performance is not a guide to future returns Practical Information - Depositary: Citibank International plc - The UK tax regime may have an impact on your personal tax position - You can check the latest price for this Share Class on our website - You are entitled to switch from this Fund to another fund on request, subject to a switching charge - The Fund is structured by having segregated liability between its sub-funds. As a consequence the assets of the sub-fund will not be available to meet the liabilities of another sub-fund within the Umbrella Fund, although it is not yet known whether a foreign court would apply segregated liability if a dispute arose under a foreign law contract made with the Fund - Invesco Fund Managers Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund - The following share classes are available for the Fund: Accumulation, Income, Accumulation (No Trail), Income (No Trail), Z Accumulation and Z Income - For further details, or to receive a free copy in English of the Prospectus and the latest Annual or Interim Short Report, please visit our website at or call us on This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority Invesco Fund Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority This Key Investor Information is accurate as at 19 February _2/PDF/190214

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

24 s One-off charges taken before or after you invest Entry charge None Exit charge None This is the maximum that might be taken out of your money before it is invested or before the proceeds of your investment are paid out. s taken from this Share Class over a year Ongoing charge 1.18% s taken from this Share Class under certain specific conditions Performance fee: None u The actual entry and exit charges paid may be less. Information on charges can be obtained from the investor's financial adviser. u The Prospectus permits a fee to be charged for switching between Funds but this fee is currently waived by the Authorised Corporate Director. u The ongoing charge is based on the last year's expenses (excluding performance fees) ending 31 December u s are used to pay the costs of running this Share Class. These charges reduce the potential growth of the investment. u Further information about charges can be found in "Part 5: s and Expenses" section of the Prospectus. Past Performance % JPM Emerging Markets Fund B - Net Accumulation (GB00B1YX4S73) Benchmark u Past performance is not a guide to future performance. u Performance data has been calculated including tax, ongoing charges and portfolio transaction costs and excluding entry and exit charges, in GBP. u Fund launch date: u Share Class launch date: Practical Information Depositary: The fund depositary is National Westminster Bank Plc. Further Information: A copy of the Prospectus and latest annual and semi-annual financial report in English can be downloaded or ordered online from or are available free of charge upon request from our UK-based Investor Services Team on (or if calling from outside the UK) or by writing to J.P. Morgan Asset Management, Client Administration Centre, Finsbury Dials, 20 Finsbury Street, London EC2Y 9AQ. Share prices can be obtained online at or by telephoning (or if calling from outside the UK). Share prices of Class A and E Shares are published daily in the Financial Times. Please note if you call J.P. Morgan Asset Management, calls may be recorded and monitored for security and training purposes. Tax: The Fund is subject to UK tax regulations. This may have an impact on an investor's personal tax position. Legal Information: JPMorgan Funds Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus. JPMorgan Fund ICVC consists of separate Funds, each of which issues one or more Share Classes. This document is prepared for a specific Share Class. The Prospectus and annual and semiannual financial reports are prepared for JPMorgan Fund ICVC. The Fund is part of JPMorgan Fund ICVC. The assets and liabilities of each fund in JPMorgan Fund ICVC are segregated by law. This means that the assets of the Fund belong exclusively to the Fund and will not be used to pay the liabilities of any other person or body, including JPMorgan Fund ICVC or any other Fund within JPMorgan Fund ICVC. Switching and Conversion: Investors may switch into Shares of another Fund of JPMorgan Fund ICVC or convert Shares in one Class in a Fund to Shares of another Class in the same Fund subject to meeting any relevant eligibility requirements and minimum holding amounts. Further information can be found in "section Switching and Conversion of Shares" of the Prospectus. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). JPMorgan Funds Limited is authorised in the United Kingdom and regulated by the FCA. This Key Investor Information is accurate as at 01/01/2014.

25 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. Neptune Japan Opportunities Fund C Acc GBP Neptune Japan Opportunities Fund (the Fund ) C Sterling Accumulation shares ISIN: GB00B3Z0Y815. A sub-fund of Neptune Investment Funds. Neptune Investment Management Limited is the 'Authorised Corporate Director' of the Fund. Objectives and investment policy To provide capital growth by investing mainly in a focused portfolio of approximately Japanese companies, selected at the manager's discretion. Any income the Fund generates will be reinvested to grow the value of your investment. You can buy and sell shares on any working day in London. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within five years. For full investment objectives and policy details please refer to the prospectus. Risk and reward profile The Risk and Reward Indicator table demonstrates where the Fund ranks in terms of its potential risk and reward. The higher the rank the greater the potential reward but the greater the risk of losing money. It is based on past data, may change over time and may not be a reliable indication of the future risk profile of the Fund. The shaded area in the table below shows the Fund s ranking on the Risk and Reward Indicator. Typically lower rewards, lower risk Typically higher rewards, higher risk This Fund is ranked at 6 because funds of this type have experienced high rises and falls in value in the past. Please note that even the lowest risk ranking can lose you money and that extreme market circumstances can mean you suffer severe losses in all cases. The indicator does not take into account the following risks of investing in this Fund: Investing overseas can bring additional returns and spread risk to different markets. There are risks, however, that changes in currency rates will reduce the value of your investment. The Manager aims to remove the impact of changes in exchange rates between the yen and pounds sterling by hedging, a currency transaction which can protect against such movements. However, if exchange rates move contrary to the Manager s expectations this can have a significant negative impact on the value of your investment. This Fund holds a limited number of investments. If one of these investments falls in value this can have a greater impact on the Fund s value than if it held a larger number of investments. For a full list of the Fund s risks, please see the prospectus. Page 1 of 2.

26 s 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 charge is calculated as at 31 December Subject to approval by the Financial Conduct Authority, from the 1 March 2014, the calculation of the annual management charge (AMC) on all Neptune funds will change from monthly to daily. The actual rate of the AMCs are not changing. For more information on this change, please telephone (+44(0) ). For more information about charges, please see the s section of the Fund s prospectus. s taken from the Fund over a year Ongoing charges 0.77% s 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: 30/09/2002. Share/unit class launch date: 03/10/2012. Performance is calculated in GBP. Performance is shown gross of tax and includes the ongoing charge but excludes any initial charge Fund 51.9 Source: FE 2014 Practical information The Fund s Depositary is State Street Trustees Limited. The Fund is a Sub-Fund of Neptune Investment Funds (the Umbrella ). You can switch your shares in the Fund for shares in another Sub- Fund of the Umbrella. The Umbrella is comprised of multiple Sub-Funds, each of which has a distinct pool of assets and liabilities. These Sub-Funds are segregated and their assets shall not be used to pay the liabilities of any other Sub-Fund. This means investors in one Sub- Fund will not pay for any liabilities and debts of another Sub-Fund. Further detailed information regarding the Fund and other funds in the umbrella, the prospectus, the latest annual reports and any subsequent half-yearly reports (including information on how to switch, buy and sell shares of the Fund and other share classes available), are available free of charge from the Investment Manager. You can obtain these documents through our website, or by calling (+44 (0) ). These documents are available in English, Dutch, French and German. Other practical information, including current prices of shares in the Fund, may be obtained from our website. If you do not have access to the internet, please call us on (+44 (0) ) for the latest prices. The tax legislation of the United Kingdom may have an impact on your personal tax position. Neptune Investment Management Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the UCITS. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Neptune Investment Management Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. GQLD This Key Investor Information is accurate as at 12/02/2014. Page 2 of 2.