Metzler Aktien Europa AR

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1 Factsheet Calculation date: 15/2/2018 Page 1 Fund Basics ISIN code DE Fund symbol Fund category Fund currency Investment Company Depositary Equity funds Euro Metzler Asset Management GmbH B. Metzler seel. Sohn & Co. KGaA Fiscal year 1/11/ - 31/10/ German tax classification equity fund pursuant to Section 2(6) of the Investment Tax Law Fund launch 2/1/1992 Offering price (incl. subscription charge) Dividend type Registered for sale EUR Distribution STOXX Europe 600 *Applies to all benchmark data and charts: until 30/9/1998 MSCI Europe Net Investment Policy The Metzler Aktien Europa fund invests mainly in European equities. Bank balances and money market paper may be in foreign currencies. As a result of the opening of Eastern European markets and corporate restructuring in core European countries, European companies offer good longterm prospects. European, especially continental European, equities are still attractively valued by international standards. Investing in this fund is an opportunity to participate in the expected positive development of this segment. SRRI - Synthetic Risk and Reward Indicator Typically lower rewards Lower risk Typically higher rewards Higher risk Recommended investment horizon 5-10 years Risk Profile Expectations of high returns from market and currency gains are offset by high downside risk from equity, currency and interest rate fluctuations as well as credit risks. Due to its concentration on specific markets (Europe), the fund is particularly dependent on developments on these markets. This entails a higher risk. Derivatives may be used for hedging purposes as well as for raising returns. The fund exhibits increased volatility due to its composition. That is, the share price can undergo significant fluctuations, both up and down, within a short time period. The fund is suitable for all types of investors who aim to accumulate or optimise assets. The investor should be in a position to accept considerable value fluctuations and significant losses without any guarantee with regard to preserving the invested amount. The investment horizon should be at least 510 years. Contact Details Metzler Asset Management GmbH Untermainanlage Frankfurt am Main Postbox Frankfurt am Main Phone: (+49-69) Fax: (+49-69) metzler-service@metzler.com

2 Factsheet Calculation date: 15/2/2018 Page 2 Prices & Distributions Subscription price Net Asset Value Volume share class Fund volume EUR EUR M. EUR M. EUR Equity participation rate 95.69% Last distribution date 2/1/2018 Distribution Redemption suspended for these target funds Performance Chart 0.16 EUR 0.00% Model Calculation The investor subscribes an amount of EUR 1,000 on 16/2/2013. In the net model calculation the subscription amount includeds an average subscription fee of 5.00%. A subscription fee of EUR is paid on the individual investment amount at subscription equalling a reduction of 4.76% of the amount invested (calculation: 1,000-[(1,000/105.00)*100] ), fund shares are subscribed for an amount of EUR Moreover, account keeping costs can reduce performance. The gross performance (calculated according to the BVI-method) includes all costs charged to the fund (e.g. management fees) but does not consider costs arising for the investor (e.g. subscription fees and account keeping costs). Performance in % Performance for 12-month-periods Period Fund Perform ance Fee 16/2/ /2/ /2/ /2/ /2/ /2/ /2/ /2/ /2/ /2/ /2/ /2/2014** **Including subscription fee of 5.00% (net calculation) Period Fund Perform ance Fee YTD month months year years p.a years p.a years p.a Since fund launch p.a Asset Allocation as of 31/1/2018 Equities Investment funds Cash Others 98.77% 0.85% 0.47% -0.09%

3 Factsheet Calculation date: 15/2/2018 Page 3 Top 10 Countries as of 31/1/2018 Euro zone United Kingdom Switzerland Sweden Denmark Norway Faroe Islands Top 10 Sectors as of 31/1/2018 Banks Health Care Industrial Goods & Services Personal & Household Goods Oil & Gas Chemicals Food & Beverage Real Estate Insurance Financial Services 54.01% 19.29% 11.77% 8.18% 3.39% 2.14% 0.84% 15.39% 9.23% 8.75% 6.88% 6.43% 5.88% 5.59% 5.54% 5.54% 5.05% Top 10 Holdings as of 31/1/2018 TOTAL S.A. EO 2, % ALLIANZ SE NA O.N. 2.97% VINCI S.A. INH. EO 2, % NESTLE NAM. SF-, % RIO TINTO PLC LS-, % KBC GROEP N.V. 2.53% AMADEUS IT GRP SA EO 0, % BASF SE NA O.N. 2.48% ING GROEP NV EO -, % CONTINENTAL AG O.N. 2.35% Key Figures as of 31/1/2018 Tracking Error (ex-post) 3 years 2.86% Information Ratio 3 years Sharpe Ratio 3 years 0.38 Volatility since fund launch 15.38% Volatility 1 year 5.89% Volatility 3 years 11.54% Volatility 5 years 10.54% Maximum drawdown 3 years % Risk-Return Chart as of 31/1/2018 Chart Details Fund Return p.a. 4.09% 5.32% Volatility 3 years 11.54% 12.37%

4 Factsheet Calculation date: 15/2/2018 Page 4 Expenses & Fees Subscription charge 5.00% Redemption Fee not applicable Management Fee p.a. 1.50% Depositary Fee p.a. 0.12% see prospectus Ongoing charges* calculation date 31/10/2017 Ongoing charges* incl. (Participations Rate) 1.85% 0.00% *The ongoing charges contain all annual operating costs except transaction costs. Paying Agent in B. Metzler seel. Sohn & Co. KGaA Untermainanlage Frankfurt am Main

5 Factsheet Calculation date: 15/2/2018 Page 5 Fund Manager Market & Fund Comments Good economic data and intact macroeconomic conditions again created a good foundation for price increases on European stock markets in the fourth quarter. The figures reported by companies were generally good. Furthermore, investors are still in search of investment alternatives in the current low interest rate environment. Cyclical stocks in particular profited from the increased industrial activity. The defensive sectors, on the other hand, were unable to keep pace with this development. With a gain of 1.12%, the fund performed better than its benchmark, the STOXX Europe 600 (0.57 %). Fund manager Oliver Schmidt, Boris Anbinder Oliver Schmidt joined Metzler in He is Portfolio Manager in the team Equities and responsible for the investment strategies Europe Dividend and Europe Sustainability. From 2006 to 2008, Mr. Schmidt was assistant to the management of BASF SE in Lampertheim,. Mr. Schmidt graduated with a Master of Finance (M.Sc.) from the Frankfurt School of Finance and Management and holds a masters degree (German Diplom- Betriebswirt) and a Bachelor of Science (B.Sc.) in business administration from the University of Cooperative Education in Mannheim,. During his studies he gained practical experience at Metzler Asset Management GmbH, cominvest Asset Management GmbH, SAP AG and BASF SE. Boris Anbinder joined Metzler in He is Portfolio Manager in the team Equities focusing on Europe Dividend and Europe Sustainability. Furthermore, he is responsible for the quantitative analysis of stocks, sectors, investment styles and ESG screenings. Mr. Anbinder received a Bachelor of Science in business administration in 2012 and a Master of Finance (M.Sc.) in 2013 from the Frankfurt School of Finance and Management in Frankfurt/Main,. During his studies he worked for Metzler Asset Management GmbH and Deutsche Bank AG in Frankfurt/Main. Prior to this, Mr. Anbinder completed an apprenticeship in banking at Deutsche Bank AG in Frankfurt/Main. Positive contributions to the fund's performance came from the sectors telecommunication (0.50%), healthcare (0.46%) and real estate (0.24%), while negative contributions came from the sectors banks (-0.56%), oil and gas (-20%) and technology (- 0.17%). At the stock level, an especially good performance was achieved by the shares in the tourism company TUI (20.8%) which reported good figures across all divisions. Shares in the German telecommunications supplier Drillisch gained 16.0% in value, profiting from the takeover by United Internet. Shares in Rio Tinto, a mining company listed in London, climbed 12.7%, gaining uplift from the rising commodity prices, especially for copper. On the other hand, higher cork prices resulted in price losses at the Portuguese cork producer Corticeira (-12.6%). Losses in the share prices of the banks Unicredit (Italy, -13.5%) and Société Générale (France, %) were attributable to the sector rotation which affected the entire banking industry following a good year in The alignment of the fund's portfolio structure remains slightly cyclical. We slightly raised our exposure to companies in the sectors insurance and financial services and also made slight investments in the building materials sector. As of December 29, 2017