Retail Funds FAQs. My Execution Only account with Cantor Fitzgerald DUBLIN CORK LIMERICK

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1 How did the transfer to Cantor Fitzgerald Ireland Limited ( Cantor ) work? In November 2016 RaboDirect Ireland announced its decision to withdraw the RaboDirect Investment Service, effective from 24th April 2017 and gave clients the option to sell their holdings. An arrangement was put in place between RaboDirect and Cantor whereby Cantor agreed to provide a service to existing RaboDirect customers who do not wish to sell their funds. A process was put in place to facilitate the transfer of investment holdings from RaboDirect to Cantor Fitzgerald and a customer account has now been set up in your name. We will be in contact with you directly should we require any additional information/documentation to activate your account, such as updated Anti-Money Laundering documentation. Cantor will provide you with an Execution Only service in line with our Execution Only Terms and Conditions in relation to all funds transferred from RaboDirect in your name. A copy of our Execution Only Terms and Conditions has been ed to you. We are committed to maintaining fees at the same rate as RaboDirect for 12 months from the date of transfer (5th May 2017), as outlined below. Any change to the fees applied thereafter will be communicated to you in advance. Custody Charge 0% Entry Fee 0.75% Exit Fee 0.75% Annual Fund Management Fee 0.45% % My Execution Only account with Cantor Fitzgerald Do I need to open an account with Cantor Fitzgerald? No. If you had investment holdings through your RaboDirect investment account on 24th April 2017, all holdings have been automatically transferred to a single account in your name with Cantor. Your investment account with RaboDirect is now closed. How do I check my account with Cantor Fitzgerald and monitor the performance of my fund investments? You will be issued with online login details for our portal where you can view your account. In order to view your account online, please go to and on the top right hand side of any page click on the prompt "Client Login". Alternatively, you can contact our Client Services team on When will I be able to trade on my account? You will be able to trade on your account once the transfer of holdings is fully complete. We will inform you via once the transfer has been processed. It is anticipated that this will be finalised by 15th of May th MAY

2 Trading Can I do all my trading online like I did with RaboDirect? Cantor Fitzgerald does not offer online dealing. Cantor offers a more personalised service and transactions are carried out through your dedicated broker or our dealing desk. How do I buy funds? We will take instruction from you over a recorded telephone line once sufficient credit is available on your account. Funds are priced daily and cut-off times are in place for executing trades. Please contact your dedicated broker or our dealing desk for more information in relation to this. In certain circumstances and where it has been agreed in advance with your broker, trade instructions can be taken by . Please note that instructions are not deemed valid until they have been acknowledged by your broker. Can I set up a direct debit to buy units in my funds each month? No, this facility is not available. If you wish to place an order, you can do so over a recorded telephone line with your dedicated broker or our dealing desk, once sufficient credit is available on your account. Where do I transfer money to buy funds? Please transfer funds to the following bank account: Bank Name: Ulster Bank Swift/BIC Code: ULSBIE2D IBAN: IE72ULSB A/C Name: Pershing Securities International Limited Client Asset Account - Hub Account REF: your Cantor Fitzgerald account number beginning with DSRB and your name Before sending monies to your Cantor Fitzgerald client account, it is important to note the following: 1. Under no circumstances will Cantor accept cash lodgements. 2. When transferring funds electronically, please quote your Cantor account number beginning with DSRB and your name, i.e. DSRBXXXX - John Smith. Payments received without a client account number run the risk of not being recognised / being rejected. 3. It is our policy not to accept third party payments. Please ensure that any monies being transferred into your Cantor account are sent from a bank account in the same name as the account held with Cantor (transfers from a joint bank account to a Cantor account, set up in the name of one of the joint account holders will be accepted). If you make a third party payment, it will be rejected. Please note that where funds are rejected it can take up to 10 working days for the funds to be returned to the sending bank. What is the minimum transaction amount? Cantor Fitzgerald recommends a minimum investment amount of 2,500 in Investment Funds. If you wish to trade in a lesser amount, please contact your broker directly. How do I sell funds? Cantor Fitzgerald will take instruction over a recorded telephone line. Funds are priced daily and cut-off times are in place for executing trades. Please contact your dedicated broker or the dealing desk for more information. Trade instructions can be given by , however, this must be pre-agreed with your dedicated broker and terms of use will be provided to you. Please note your instruction will not be deemed valid until it is acknowledged by your broker. 2

3 What is the settlement period for funds? Funds are priced daily and not exchange-traded. Therefore, trade cut-off times are in place for executing a trade at the available price each business day. If a trade is placed after the cut-off time, your trade will be executed at the next available business day at the price available on that day. For details on fund cut-off times, please contact your dedicated broker or the dealing desk. Once your fund order is executed, we will issue you with a contract note. Trade settlement is typically four days after execution (T+4). Can you transfer proceeds of the sale of fund(s) to my personal bank account if my AML is not up-to-date? No. Should you request a transfer of funds, you will be asked for up-to-date AML documentation before the transfer can be effected. If you believe your ID may have expired, please send us an up-to-date certified copy as soon as possible. Please note: in order to avoid delays in processing payments, please a signed document stating your bank details to Ireland@cantor.com at your earliest convenience. We require your bank name and address, name on the account, account number, sort code and IBAN. We will contact you to verify the bank details over the phone before we place it on file for future payments. My Investments Where are my investment assets kept? With regard to the safe custody and segregation of client assets, Cantor does not hold any client cash or assets. Any investments or cash we manage for you will be held in a nominee account on your behalf with Pershing Securities International Limited, our custodian. Who are Pershing Securities International Limited (PSIL) and are my investments safe? Pershing Securities International Limited (PSIL) provides settlement, safe custody, nominee and associated services for Cantor. PSIL, a Bank of New York Mellon company, is a financial services market leader with locations in 23 offices worldwide, and is the No.1 clearing firm in the US. Please refer to your CAKID document for further details. What funds can I invest in? You will continue to have access to the 60 funds that were offered to you previously through RaboDirect. Information on each fund can be found here on our dedicated webpage you can contact your dedicated broker directly or our dealing desk for information. What about Tax? Eight year deemed distribution from the funds, does this apply to me? Cantor does not provide taxation advice and will not have any liability in relation to any taxation arising on any investments or transactions made on your behalf. If you have any queries relating to your tax liability you should contact your tax advisor. Account Administration How will Cantor Fitzgerald send me important information on my account? Our main communication method will be . However, we may communicate by post depending on the client communication being issued to you. Will we receive two passwords to view account information online for a joint account? No, only one online access will be set up and only one password is issued for a joint account. 3

4 Do I need to provide Cantor with updated details if I change address or ? Yes, Cantor will require an updated proof of address to be sent to ireland@cantor.com if you change address at any time. We also require notification if you change address, in order to contact you at any point in the future. The onus is on you to inform us of any change of detail to ensure your account is not impacted by our inability to contact you. Do I have to provide updated ID documentation or proof of address? Yes, we will require in date ID and up-to-date proof of address at all times for each client. This is in line with anti-money laundering (AML) legislation and will be required prior to making any payments out to you. If I want to sell my fund holdings and transfer the money to my bank account, how do I do this? Contact your broker and issue the instruction to sell. If you have already provided us with your bank details, you should instruct your broker to transfer the funds to your account, once settled. If you have not provided us with your bank details, please a signed document stating your bank details either directly to your broker or to Ireland@cantor.com. We require your bank name and address, name on the account, account number, sort code and IBAN. We will then contact you to verify the bank details over the phone before we place them on file for future payments. Please note that we must be in receipt of in date AML documentation in order to make any payments. Can I open an account for my children? Cantor will only open an account for a minor through an official Trust structure. You will need to contact your solicitor in order to set up an official Trust Deed for another beneficiary. You will then need to send this documentation to us with a Trust Account Opening form. How do Cantor Fitzgerald s fees compare to RaboDirect s? Cantor will match RaboDirect fees (i.e. Custody Charges 0%, Fund Management Annual Management Fee 0.45% % depending on the fund, Entry Fee 0.75% and Exit Fee 0.75%) for 12 months from the date of transfer (5th of May 2017). Any change to the fees applied thereafter will be communicated to you in advance. Cantor Fitzgerald Investment Services What other services does Cantor offer? Cantor provides a full suite of investment services, primarily in personalised share dealing, pensions and investment management, debt capital markets, corporate finance and research. We are recognised as a primary dealer in government bonds and our clients include private individuals and corporate entities, financial institutions, investment funds, credit unions and charities. We offer clients access to institutional share classes of investment funds, both on an Execution Only and Advisory basis, and cater to all investors. Our Advisory Service offers professional advice and recommendations through a broker, where you will be guided through a range of investment options most suited to your needs and objectives. Please contact your Cantor broker directly to find out more detail on the suite of services available. Cantor Institutional Investment Funds at a glance Access to over 3,500 funds managed by world leading fund managers including PIMCO, Templeton, M&G and Standard Life. Access to all asset classes (equities, bonds, cash, property, commodities) and investment styles Exposure to foreign markets and niche sectors 4

5 Access to the lowest Annual Management Charge ('AMC') fund share classes Platform Fee of 1% per annum on the value of your investments (including VAT) What do I need to do if I wish to avail of Cantor Fitzgerald s full suite of investment funds and other investments? You will need to open a new Cantor account to avail of any of our other services. Entry Fee (initial charge) 0% Exit Fee 0% Annual Fund Management Charge/Fee (AMC/AMF) Investment Fund Charge Institutional rate AMC 1% per annum on the value of your investments You can contact your broker or our dealing desk directly to get information on the options available to you or to open an Advisory account. Investment Fund Information What is a rebate? A rebate is a charge built into the Annual Fund Management Fee (AMF/AMC) of a fund to compensate sales agents who distribute the funds to retail investors. The rebate amount is determined by the fund provider but is typically around 0.5% and may be subject to change without notice. What are the different fund share classes? Different classes of shares may be issued in respect of each fund. Classes may be distinguished by different characteristics which include, but are not limited to, the currency denomination of the share class, accumulation or distribution shares classes and institutional or retail share classes. What is the difference between institutional and retail share classes? Retail shares classes are designed for retail investors and have a much lower minimum investment amount. However, they can be more expensive as they may have a rebate built into the AMC for the benefit of sales agents. The institutional share class is targeted at institutional investors and will carry lower management fees. This share class is not normally available to retail investors as the minimum investment amount can be 1 million or more. However, Cantor offers access to the lower fees of institutional share classes to our clients, based on the money we invest across all of our clients' accounts. What is the difference between distribution and accumulation share classes? Many funds offer investors a choice of either distribution or accumulation share classes. If you select a distribution share class you will receive any cash income generated by the underlying holdings. Alternatively, accumulation share classes will increase in value if income is generated from the holdings as the income is reinvested back into more units in the fund. 5