BNY MELLON LONG-TERM GLOBAL EQUITY FUND

Transcription

1 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 natureandtherisksofinvestinginthisfund.youareadvisedtoreaditsoyoucan make an informed decision about whether to invest. BNY MELLON LONG-TERM GLOBAL EQUITY FUND INSTITUTIONAL SHARES W(ACCUMULATION)(ISIN: GB00B8K6W529) A SUB-FUND OF BNY MELLON INVESTMENT FUNDS THIS FUND IS MANAGED BY BNY MELLON FUND MANAGERS LIMITED OBJECTIVES AND INVESTMENT POLICY OBJECTIVE To achieve long-term capital appreciation through investing primarily in a portfolio of equity and equity related securities of companies located throughout the world. POLICY The Fund will: invest anywhere in the world; invest in company shares and similar investments; have complete freedom to invest without reference to any benchmark or index; and limit investment in other collective investment schemes to 10%. The Fund may: invest in emerging markets; and RISK AND REWARD PROFILE Lower risk Potentially lower reward Higher risk Potentially higher reward We have calculated the risk and reward category, as shown above, using a method of calculation derived from EU rules. As this Fund has less than five years performance data available, it isbasedonsimulatedvolatilityandisnotaguidetothefuture riskandrewardcategoryofthefund.thecategoryshownisnot atargetorguaranteeandmayshiftovertime.eventhelowest category 1 does not mean a risk-free investment. This Fund is in category 5 because its simulated historical value has shown moderately high volatility. With a Fund of category 5, youhaveamoderatelyhighriskoflosingmoneybutyour chance for gains is also moderately high. THEFOLLOWINGRISKSMAYNOTBEFULLYCAPTUREDBY THE RISK AND REWARD INDICATOR: There is no guarantee that the Fund will achieve its objective. invest in derivatives(i.e. financial contracts whose value is linked to the expected price movements of an underlying investment) with the aim of reducing the overall costs and/or risk and/or to generate additional capital or income with a risklevelwhichisconsistentwiththeriskprofileofthefund (Efficient Portfolio Management(EPM)). Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within five years. Treatment of income: income from investments will be retained within the Fund. This will increase the value of your shares. Dealing:youcanbuyandsellyoursharesintheFundbetween 9:00and17:00(UKtime)oneachworkingdayintheUK. Instructions received before 12:00 will receive the price quoted on that day. The minimum initial investment for this share class is GBP 10,000,000. This Fund invests in international markets which means it is exposed to changes in currency rates which could affect the valueofthefund. The Fund may use derivatives to reduce costs and/or overall risk and/or to generate additional capital or income of the fund(i.e Efficient Portfolio Management(EPM). EPM may become ineffective in adverse situations and the fund may suffer a significant loss as a result. The Fund may invest in emerging markets. These markets have additional risks due to less developed market practices. Afallinthevalueofasingleinvestmentmayhaveasignificant impactonthevalueofthefundbecauseittypicallyinvestsin a limited number of investments. TheFundtakesitschargesfromtheincomeoftheFundinthe first instance. The impact of Fund charges may be material on the value of any income you receive from your investment. There is potential for capital erosion if insufficient income is generated by the Fund to cover these charges. Acompletedescriptionofriskfactorsissetoutinthe Prospectus in the section entitled"risk Factors". BNY MELLON INVESTMENT FUNDS

2 CHARGES The charges cover the costs of running the Fund, including the costs of marketing and selling. These charges reduce the potential growth of your investment. ONE-OFF CHARGES TAKEN BEFORE OR AFTER YOU INVEST Entry charge 0.00% Exit charge Thisisthemaximumthatmightbetakenoutofyourmoney before it is invested and before the proceeds of your investment are paid out. CHARGESTAKENFROMTHEFUNDOVERAYEAR Ongoing charge 0.81% CHARGES TAKEN FROM THE FUND UNDER CERTAIN SPECIFIC CONDITIONS Performance fee PAST PERFORMANCE % BNY Mellon Long-Term Global Equity Fund Institutional Shares W(Accumulation)(GB00B8K6W529) The ongoing charge is based on expenses calculated on 31stDecember2016.Thismayvaryfromyeartoyear.It excludes performance fees and portfolio transaction costs, exceptinthecaseofanentry/exitchargepaidwhenbuyingor selling units in another mutual fund. More information about charges is available in the Prospectus. The chart includes all charges except entry charges. Fundlaunchdate-24August2007. Shareclasslaunchdate-30August2012. Performance of this share class is calculated in sterling. Past performance is not a guide to future performance Fund% PRACTICAL INFORMATION Documents: The Fund is a sub-fund of BNY Mellon Investment Funds("BNY MIF"), an umbrella open-ended investment company(oeic). Copies of the Prospectus, annual and semiannualreportsforbnymifmaybeobtainedfreeofcharge from or from BNY Mellon Investment Management EMEA Limited, BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA. These documents are available in English and certain other languages. Share price: The latest share price and other information, includinghowtobuyorsellshares,areavailablefromthe website and address given above. Other share classes are offeredbythefundassetoutintheprospectus. Switching: Investors may switch shares in the Fund for shares in other sub-funds of BNY MIF provided they satisfy the criteria applicable to investment in other sub-funds. Further information on switching is contained in the Prospectus. Legal status: The assets of the Fund belong exclusively to that sub-fundandmaynotbeusedtodischargetheliabilitiesofor claims against any other person or body, including BNY MIF or any other sub-fund within the umbrella. Liability statement: BNY Mellon Fund Managers Limited may beheldliablesolelyonthebasisofanystatementcontainedin this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund. Depositary: National Westminster Bank plc. Tax:ThetaxlegislationoftheFund'sdomicilemayhavean impact on your personal tax position. For further details, please speak to an adviser. Remuneration Policy: Details of the up-to-date remuneration policy of BNY Mellon Fund Managers Limited including, but not limited to, a description of how remuneration and benefits are calculated and the identity of persons responsible for awarding the remuneration and benefits are available on A paper copy will be made available free of charge upon request. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. BNY Mellon Fund Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at 3 February 2017.

3 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 Global Alpha Fund C Acc GBP Neptune Global Alpha Fund (the 'Fund') - ISIN: GB A sub-fund of Neptune Investment Funds. Neptune Investment Management Limited is the 'Authorised Corporate Director' of the Fund. Objectives & investment policy Risk and reward profile To provide capital growth by investing in both companies shares and bonds (issued by companies and/or governments) from around the world; the precise mix of investments will be chosen by the manager and selected at their discretion. 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. 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. Potentially lower reward Potentially higher reward Lower Risk 1 Higher Risk The Fund is in Category 6 because of the high range and frequency of price movements (volatility) of the underlying investments referenced by the Fund. The following are additional risks not covered by the risk and reward category. 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. Emerging markets or less developed countries may face more political, economic or structural challenges than developed countries. This means your money may be at greater risk. Bonds are affected by changes in interest rates, inflation and any decline in creditworthiness of the bond issuer. Bonds that produce a higher level of income usually also carry greater risk as such bond issuers may have difficulty in paying their debts. The Manager aims to remove the impact of changes in some exchange rates 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 significantly 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. Page 1 of 2.

4 Charges 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. 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. One-off charges taken before or after you invest The ongoing charge is calculated as at 16/02/2017. It may vary from year to year. For more information about charges, please see the Charges section of the Fund s prospectus. Entry charge Exit charge 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. Charges taken from the Fund over a year Ongoing charges 0.85% Charges taken from the Fund under certain specific conditions Performance fee Past Performance % 36 You should be aware that past performance is not a guide to future performance. Fund launch date: 31/12/2001. Share launch date: 31/12/2001. Performance is calculated in GBP. Performance is shown net of UK tax and includes the ongoing charge but excludes any initial charge. % Fund 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 SubFund 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 SubFund 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 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 the United Kingdom and regulated by Financial Conduct Authority. Where relevant the statement that Neptune Investment Management Limited is authorised in the United Kingdom and regulated by Financial Conduct Authority. This Key Investor information is accurate as at 16/02/2017. Page 2 of 2.

5 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 natureandtherisksofinvestinginthisfund.youareadvisedtoreaditsoyoucan make an informed decision about whether to invest. NEWTON INTERNATIONAL BOND FUND INSTITUTIONAL SHARES W(ACCUMULATION)(ISIN: GB00B8BYHS32) A SUB-FUND OF BNY MELLON INVESTMENT FUNDS THIS FUND IS MANAGED BY BNY MELLON FUND MANAGERS LIMITED OBJECTIVES AND INVESTMENT POLICY OBJECTIVE To maximise the total return from income and capital growth in the world bond markets through investment predominantly in Government and other public securities. POLICY The Fund will: invest anywhere in the world; invest in bonds and similar debt investments issued by governments and other public entities; investinbondswithahighcreditrating(i.e.investmentgrade bondswithaminimumcreditratingofbbb-atthetimeof purchase as rated by Standard and Poor's or equivalent recognised rating agency or deemed of equivalent quality when unrated); notinvestmorethan15%inbondsissuedbyemerging markets issuers; invest in derivatives(i.e. financial contracts whose value is linked to the expected price movements of an underlying RISK AND REWARD PROFILE Lower risk Potentially lower reward Higher risk Potentially higher reward We have calculated the risk and reward category, as shown above, using a method of calculation derived from EU rules. As this Fund has less than five years performance data available, it isbasedonsimulatedvolatilityandisnotaguidetothefuture riskandrewardcategoryofthefund.thecategoryshownisnot atargetorguaranteeandmayshiftovertime.eventhelowest category 1 does not mean a risk-free investment. This Fund is in category 4 because its simulated historical value has shown moderate volatility. With a Fund of category 4, you haveamoderateriskoflosingmoneybutyourchanceforgains is also moderate. THEFOLLOWINGRISKSMAYNOTBEFULLYCAPTUREDBY THE RISK AND REWARD INDICATOR: There is no guarantee that the Fund will achieve its objective. investment) with the aim of generating returns and reducing theoverallcostsand/orrisksofthefund;and limit investment in other collective investment schemes to 10%. The Fund may: invest significantly in cash and cash-like investments. Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within five years. Treatment of income: income from investments will be retained within the Fund. This will increase the value of your shares. Dealing:youcanbuyandsellyoursharesintheFundbetween 9:00and17:00(UKtime)oneachworkingdayintheUK. Instructions received before 12:00 will receive the price quoted on that day. The minimum initial investment for this share class is GBP 10,000,000. This Fund invests in international markets which means it is exposed to changes in currency rates which could affect the valueofthefund. TheFundwillusederivativestogeneratereturnsaswellasto reduce costs and/or the overall risk of the Fund. Using derivatives can involve a higher level of risk. A small movement in the price of an underlying investment may result in a disproportionately large movement in the price of the derivative investment. Investments in bonds are affected by interest rates and inflation trends which may affect the value of the Fund. The Fund may invest in emerging markets. These markets have additional risks due to less developed market practices. TheFundtakesitschargesfromtheincomeoftheFundinthe first instance. The impact of Fund charges may be material on the value of any income you receive from your investment. There is potential for capital erosion if insufficient income is generated by the Fund to cover these charges. Acompletedescriptionofriskfactorsissetoutinthe Prospectus in the section entitled"risk Factors". BNY MELLON INVESTMENT FUNDS

6 CHARGES The charges cover the costs of running the Fund, including the costs of marketing and selling. These charges reduce the potential growth of your investment. ONE-OFF CHARGES TAKEN BEFORE OR AFTER YOU INVEST Entry charge 0.00% Exit charge Thisisthemaximumthatmightbetakenoutofyourmoney before it is invested and before the proceeds of your investment are paid out. CHARGESTAKENFROMTHEFUNDOVERAYEAR Ongoing charge 0.58% CHARGES TAKEN FROM THE FUND UNDER CERTAIN SPECIFIC CONDITIONS Performance fee PAST PERFORMANCE % Newton International Bond Fund Institutional Shares W (Accumulation)(GB00B8BYHS32) Fund% PRACTICAL INFORMATION Documents: The Fund is a sub-fund of BNY Mellon Investment Funds("BNY MIF"), an umbrella open-ended investment company(oeic). Copies of the Prospectus, annual and semiannualreportsforbnymifmaybeobtainedfreeofcharge from or from BNY Mellon Investment Management EMEA Limited, BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA. These documents are available in English and certain other languages. Share price: The latest share price and other information, includinghowtobuyorsellshares,areavailablefromthe website and address given above. Other share classes are offeredbythefundassetoutintheprospectus. Switching: Investors may switch shares in the Fund for shares in other sub-funds of BNY MIF provided they satisfy the criteria applicable to investment in other sub-funds. Further information on switching is contained in the Prospectus. Legal status: The assets of the Fund belong exclusively to that sub-fundandmaynotbeusedtodischargetheliabilitiesofor claims against any other person or body, including BNY MIF or any other sub-fund within the umbrella. The ongoing charge is based on expenses calculated on 31stDecember2016.Thismayvaryfromyeartoyear.It excludes performance fees and portfolio transaction costs, exceptinthecaseofanentry/exitchargepaidwhenbuyingor selling units in another mutual fund. More information about charges is available in the Prospectus. The chart includes all charges except entry charges. Fundlaunchdate-1February1991. Share class launch date- 4 September Performance of this share class is calculated in sterling. Past performance is not a guide to future performance. Liability statement: BNY Mellon Fund Managers Limited may beheldliablesolelyonthebasisofanystatementcontainedin this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund. Depositary: National Westminster Bank plc. Tax:ThetaxlegislationoftheFund'sdomicilemayhavean impact on your personal tax position. For further details, please speak to an adviser. Remuneration Policy: Details of the up-to-date remuneration policy of BNY Mellon Fund Managers Limited including, but not limited to, a description of how remuneration and benefits are calculated and the identity of persons responsible for awarding the remuneration and benefits are available on A paper copy will be made available free of charge upon request. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. BNY Mellon Fund Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at 3 February 2017.

7 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 natureandtherisksofinvestinginthisfund.youareadvisedtoreaditsoyoucan make an informed decision about whether to invest. NEWTON MULTI-ASSET BALANCED FUND INSTITUTIONAL SHARES W(ACCUMULATION)(ISIN: GB00B86LX253) A SUB-FUND OF BNY MELLON INVESTMENT FUNDS THIS FUND IS MANAGED BY BNY MELLON FUND MANAGERS LIMITED OBJECTIVES AND INVESTMENT POLICY OBJECTIVE To achieve a balance between capital growth and income predominantly from a portfolio of UK and international securities. POLICY The Fund will: invest anywhere in the world; follow a broad multi-asset portfolio approach; invest in company shares(i.e. equities) and similar investments; invest in bonds, issued by governments and companies, with high and low credit ratings(i.e. investment grade and/or subinvestment grade bonds as rated by Standard and Poor's or similar agencies); gain exposure to commodities(e.g. gold, agriculture), property and other alternative investments through stock exchange listed investments and/or collective investment schemes; invest in derivatives(i.e. financial contracts whose value is linked to the expected price movements of an underlying RISK AND REWARD PROFILE Lower risk Potentially lower reward Higher risk Potentially higher reward We have calculated the risk and reward category, as shown above, using a method of calculation derived from EU rules. As this Fund has less than five years performance data available, it isbasedonsimulatedvolatilityandisnotaguidetothefuture riskandrewardcategoryofthefund.thecategoryshownisnot atargetorguaranteeandmayshiftovertime.eventhelowest category 1 does not mean a risk-free investment. This Fund is in category 4 because its simulated historical value has shown moderate volatility. With a Fund of category 4, you haveamoderateriskoflosingmoneybutyourchanceforgains is also moderate. THEFOLLOWINGRISKSMAYNOTBEFULLYCAPTUREDBY THE RISK AND REWARD INDICATOR: There is no guarantee that the Fund will achieve its objective. This Fund invests in international markets which means it is exposed to changes in currency rates which could affect the valueofthefund. investment) with the aim of generating returns and reducing theoverallcostsand/orrisksofthefund;and limit investment in other collective investment schemes to 10%. The Fund may: invest in emerging markets; and invest significantly in cash and cash-like investments. Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within five years. Treatment of income: income from investments will be retained within the Fund. This will increase the value of your shares. Dealing:youcanbuyandsellyoursharesintheFundbetween 9:00and17:00(UKtime)oneachworkingdayintheUK. Instructions received before 12:00 will receive the price quoted on that day. The minimum initial investment for this share class is GBP 10,000,000. TheFundwillusederivativestogeneratereturnsaswellasto reduce costs and/or the overall risk of the Fund. Using derivatives can involve a higher level of risk. A small movement in the price of an underlying investment may result in a disproportionately large movement in the price of the derivative investment. Investments in bonds are affected by interest rates and inflation trends which may affect the value of the Fund. TheFundholdsbondswithalowcreditratingthathavea greater risk of default. These investments may affect the valueofthefund. The Fund may invest in emerging markets. These markets have additional risks due to less developed market practices. TheFundtakesitschargesfromthecapitaloftheFund. Investors should be aware that there is potential for capital erosion if insufficient capital growth is achieved by the Fund tocoverthecharges.capitalerosionmayhavetheeffectof reducing the level of income generated. Acompletedescriptionofriskfactorsissetoutinthe Prospectus in the section entitled"risk Factors". BNY MELLON INVESTMENT FUNDS

8 CHARGES The charges cover the costs of running the Fund, including the costs of marketing and selling. These charges reduce the potential growth of your investment. ONE-OFF CHARGES TAKEN BEFORE OR AFTER YOU INVEST Entry charge 0.00% Exit charge Thisisthemaximumthatmightbetakenoutofyourmoney before it is invested and before the proceeds of your investment are paid out. CHARGESTAKENFROMTHEFUNDOVERAYEAR Ongoing charge 0.67% CHARGES TAKEN FROM THE FUND UNDER CERTAIN SPECIFIC CONDITIONS Performance fee PAST PERFORMANCE % Newton Multi-Asset Balanced Fund Institutional Shares W (Accumulation)(GB00B86LX253) The ongoing charge is based on expenses calculated on 31stDecember2016.Thismayvaryfromyeartoyear.It excludes performance fees and portfolio transaction costs, exceptinthecaseofanentry/exitchargepaidwhenbuyingor selling units in another mutual fund. More information about charges is available in the Prospectus. The chart includes all charges except entry charges. Fundlaunchdate-4November1986. Shareclasslaunchdate-31August2012. Performance of this share class is calculated in sterling. Past performance is not a guide to future performance Fund% PRACTICAL INFORMATION Documents: The Fund is a sub-fund of BNY Mellon Investment Funds("BNY MIF"), an umbrella open-ended investment company(oeic). Copies of the Prospectus, annual and semiannualreportsforbnymifmaybeobtainedfreeofcharge from or from BNY Mellon Investment Management EMEA Limited, BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA. These documents are available in English and certain other languages. Share price: The latest share price and other information, includinghowtobuyorsellshares,areavailablefromthe website and address given above. Other share classes are offeredbythefundassetoutintheprospectus. Switching: Investors may switch shares in the Fund for shares in other sub-funds of BNY MIF provided they satisfy the criteria applicable to investment in other sub-funds. Further information on switching is contained in the Prospectus. Legal status: The assets of the Fund belong exclusively to that sub-fundandmaynotbeusedtodischargetheliabilitiesofor claims against any other person or body, including BNY MIF or any other sub-fund within the umbrella. Liability statement: BNY Mellon Fund Managers Limited may beheldliablesolelyonthebasisofanystatementcontainedin this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund. Depositary: National Westminster Bank plc. Tax:ThetaxlegislationoftheFund'sdomicilemayhavean impact on your personal tax position. For further details, please speak to an adviser. Remuneration Policy: Details of the up-to-date remuneration policy of BNY Mellon Fund Managers Limited including, but not limited to, a description of how remuneration and benefits are calculated and the identity of persons responsible for awarding the remuneration and benefits are available on A paper copy will be made available free of charge upon request. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. BNY Mellon Fund Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at 3 February 2017.

9 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 natureandtherisksofinvestinginthisfund.youareadvisedtoreaditsoyoucan make an informed decision about whether to invest. NEWTON MULTI-ASSET GROWTH FUND INSTITUTIONAL SHARES W(ACCUMULATION)(ISIN: GB00B8454P92) A SUB-FUND OF BNY MELLON INVESTMENT FUNDS THIS FUND IS MANAGED BY BNY MELLON FUND MANAGERS LIMITED OBJECTIVES AND INVESTMENT POLICY OBJECTIVE ToachievecapitalgrowthandincomefromaportfolioofUKand international securities. POLICY The Fund will: invest anywhere in the world; follow a fully flexible asset allocation approach; invest in company shares(i.e. equities) and similar investments; invest in bonds, issued by governments and companies, with high and low credit ratings(i.e. investment grade and/or subinvestment grade bonds as rated by Standard and Poor's or similar agencies); gain exposure to commodities(e.g. gold, agriculture), property and other alternative investments through stock exchange listed investments and/or collective investment schemes; and limit investment in other collective investment schemes to 10%. RISK AND REWARD PROFILE Lower risk Potentially lower reward Higher risk Potentially higher reward We have calculated the risk and reward category, as shown above, using a method of calculation derived from EU rules. As this Fund has less than five years performance data available, it isbasedonsimulatedvolatilityandisnotaguidetothefuture riskandrewardcategoryofthefund.thecategoryshownisnot atargetorguaranteeandmayshiftovertime.eventhelowest category 1 does not mean a risk-free investment. This Fund is in category 5 because its simulated historical value has shown moderately high volatility. With a Fund of category 5, youhaveamoderatelyhighriskoflosingmoneybutyour chance for gains is also moderately high. THEFOLLOWINGRISKSMAYNOTBEFULLYCAPTUREDBY THE RISK AND REWARD INDICATOR: There is no guarantee that the Fund will achieve its objective. The Fund may: invest in emerging markets; invest significantly in cash and cash-like investments; and invest in derivatives(i.e. financial contracts whose value is linked to the expected price movements of an underlying investment) with the aim of reducing the overall costs and/or risk and/or to generate additional capital or income with a risklevelwhichisconsistentwiththeriskprofileofthefund (Efficient Portfolio Management(EPM)). Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within five years. Treatment of income: income from investments will be retained within the Fund. This will increase the value of your shares. Dealing:youcanbuyandsellyoursharesintheFundbetween 9:00and17:00(UKtime)oneachworkingdayintheUK. Instructions received before 12:00 will receive the price quoted on that day. The minimum initial investment for this share class is GBP 10,000,000. This Fund invests in international markets which means it is exposed to changes in currency rates which could affect the valueofthefund. The Fund may use derivatives to reduce costs and/or overall risk and/or to generate additional capital or income of the fund(i.e Efficient Portfolio Management(EPM). EPM may become ineffective in adverse situations and the fund may suffer a significant loss as a result. Investments in bonds are affected by interest rates and inflation trends which may affect the value of the Fund. TheFundholdsbondswithalowcreditratingthathavea greater risk of default. These investments may affect the valueofthefund. The Fund may invest in emerging markets. These markets have additional risks due to less developed market practices. TheFundtakesitschargesfromtheincomeoftheFundinthe first instance. The impact of Fund charges may be material on the value of any income you receive from your investment. There is potential for capital erosion if insufficient income is generated by the Fund to cover these charges. Acompletedescriptionofriskfactorsissetoutinthe Prospectus in the section entitled"risk Factors". BNY MELLON INVESTMENT FUNDS

10 CHARGES The charges cover the costs of running the Fund, including the costs of marketing and selling. These charges reduce the potential growth of your investment. ONE-OFF CHARGES TAKEN BEFORE OR AFTER YOU INVEST Entry charge 0.00% Exit charge Thisisthemaximumthatmightbetakenoutofyourmoney before it is invested and before the proceeds of your investment are paid out. CHARGESTAKENFROMTHEFUNDOVERAYEAR Ongoing charge 0.67% CHARGES TAKEN FROM THE FUND UNDER CERTAIN SPECIFIC CONDITIONS Performance fee PAST PERFORMANCE % Newton Multi-Asset Growth Fund Institutional Shares W (Accumulation)(GB00B8454P92) The ongoing charge is based on expenses calculated on 31stDecember2016.Thismayvaryfromyeartoyear.It excludes performance fees and portfolio transaction costs, exceptinthecaseofanentry/exitchargepaidwhenbuyingor selling units in another mutual fund. More information about charges is available in the Prospectus. The chart includes all charges except entry charges. Fundlaunchdate-2April1990. Shareclasslaunchdate-31August2012. Performance of this share class is calculated in sterling. Past performance is not a guide to future performance Fund% PRACTICAL INFORMATION Documents: The Fund is a sub-fund of BNY Mellon Investment Funds("BNY MIF"), an umbrella open-ended investment company(oeic). Copies of the Prospectus, annual and semiannualreportsforbnymifmaybeobtainedfreeofcharge from or from BNY Mellon Investment Management EMEA Limited, BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA. These documents are available in English and certain other languages. Share price: The latest share price and other information, includinghowtobuyorsellshares,areavailablefromthe website and address given above. Other share classes are offeredbythefundassetoutintheprospectus. Switching: Investors may switch shares in the Fund for shares in other sub-funds of BNY MIF provided they satisfy the criteria applicable to investment in other sub-funds. Further information on switching is contained in the Prospectus. Legal status: The assets of the Fund belong exclusively to that sub-fundandmaynotbeusedtodischargetheliabilitiesofor claims against any other person or body, including BNY MIF or any other sub-fund within the umbrella. Liability statement: BNY Mellon Fund Managers Limited may beheldliablesolelyonthebasisofanystatementcontainedin this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund. Depositary: National Westminster Bank plc. Tax:ThetaxlegislationoftheFund'sdomicilemayhavean impact on your personal tax position. For further details, please speak to an adviser. Remuneration Policy: Details of the up-to-date remuneration policy of BNY Mellon Fund Managers Limited including, but not limited to, a description of how remuneration and benefits are calculated and the identity of persons responsible for awarding the remuneration and benefits are available on A paper copy will be made available free of charge upon request. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. BNY Mellon Fund Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at 3 February 2017.

11 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 natureandtherisksofinvestinginthisfund.youareadvisedtoreaditsoyoucan make an informed decision about whether to invest. NEWTON REAL RETURN FUND INSTITUTIONAL SHARES W(ACCUMULATION)(ISIN: GB00B8GG4B61) A SUB-FUND OF BNY MELLON INVESTMENT FUNDS THIS FUND IS MANAGED BY BNY MELLON FUND MANAGERS LIMITED OBJECTIVES AND INVESTMENT POLICY OBJECTIVE To achieve significant real rates of return in Sterling terms predominantly from a portfolio of UK and international securities. The Sub-Fund is managed to seek a minimum return ofcash(1monthgbplibor)+4%perannumover5years beforefees.insodoingweaimtoachieveapositivereturnona rolling 3 year basis. However, a positive return is not guaranteed andacapitallossmayoccur. POLICY The Fund will: invest anywhere in the world; follow a broad'multi-asset' portfolio approach(e.g. company shares(i.e. equities) and similar investments, bonds and similar debt investments and cash); invest in bonds, issued by governments and companies, with high and low credit ratings(i.e. investment grade and/or subinvestment grade bonds as rated by Standard and Poor's or similar agencies); gain exposure to currencies, commodities(e.g. gold, agriculture) and property through stock exchange listed investments and/or derivatives; RISK AND REWARD PROFILE Lower risk Potentially lower reward Higher risk Potentially higher reward We have calculated the risk and reward category, as shown above, using a method of calculation derived from EU rules. As this Fund has less than five years performance data available, it isbasedonsimulatedvolatilityandisnotaguidetothefuture riskandrewardcategoryofthefund.thecategoryshownisnot atargetorguaranteeandmayshiftovertime.eventhelowest category 1 does not mean a risk-free investment. This Fund is in category 4 because its simulated historical value has shown moderate volatility. With a Fund of category 4, you haveamoderateriskoflosingmoneybutyourchanceforgains is also moderate. THEFOLLOWINGRISKSMAYNOTBEFULLYCAPTUREDBY THE RISK AND REWARD INDICATOR: Theperformanceaimisnotaguarantee,maynotbeachieved andacapitallossmayoccur.fundswhichhaveahigher performance aim generally take more risk to achieve this and so have a greater potential for the returns to be significantly different than expected. invest in derivatives(i.e. financial contracts whose value is linked to the expected price movements of an underlying investment) with the aim of generating returns and reducing theoverallcostsand/orrisksofthefund;and limit investment in other collective investment schemes to 10%. The Fund may: invest in emerging markets; and invest significantly in cash and cash-like investments. Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within five years. Treatment of income: income from investments will be retained within the Fund. This will increase the value of your shares. Dealing:youcanbuyandsellyoursharesintheFundbetween 9:00and17:00(UKtime)oneachworkingdayintheUK. Instructions received before 12:00 will receive the price quoted on that day. The minimum initial investment for this share class is GBP 10,000,000. This Fund invests in international markets which means it is exposed to changes in currency rates which could affect the valueofthefund. TheFundwillusederivativestogeneratereturnsaswellasto reduce costs and/or the overall risk of the Fund. Using derivatives can involve a higher level of risk. A small movement in the price of an underlying investment may result in a disproportionately large movement in the price of the derivative investment. Investments in bonds are affected by interest rates and inflation trends which may affect the value of the Fund. TheFundholdsbondswithalowcreditratingthathavea greater risk of default. These investments may affect the valueofthefund. The Fund may invest in emerging markets. These markets have additional risks due to less developed market practices. The Fund may invest in investments that are not traded regularly and are therefore subject to greater fluctuations in price. TheFundtakesitschargesfromthecapitaloftheFund. Investors should be aware that there is potential for capital erosion if insufficient capital growth is achieved by the Fund tocoverthecharges.capitalerosionmayhavetheeffectof reducing the level of income generated. Acompletedescriptionofriskfactorsissetoutinthe Prospectus in the section entitled"risk Factors". BNY MELLON INVESTMENT FUNDS

12 CHARGES The charges cover the costs of running the Fund, including the costs of marketing and selling. These charges reduce the potential growth of your investment. ONE-OFF CHARGES TAKEN BEFORE OR AFTER YOU INVEST Entry charge 0.00% Exit charge Thisisthemaximumthatmightbetakenoutofyourmoney before it is invested and before the proceeds of your investment are paid out. CHARGESTAKENFROMTHEFUNDOVERAYEAR Ongoing charge 0.79% CHARGES TAKEN FROM THE FUND UNDER CERTAIN SPECIFIC CONDITIONS Performance fee PAST PERFORMANCE % Newton Real Return Fund Institutional Shares W (Accumulation)(GB00B8GG4B61) Fund% PRACTICAL INFORMATION Documents: The Fund is a sub-fund of BNY Mellon Investment Funds("BNY MIF"), an umbrella open-ended investment company(oeic). Copies of the Prospectus, annual and semiannualreportsforbnymifmaybeobtainedfreeofcharge from or from BNY Mellon Investment Management EMEA Limited, BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA. These documents are available in English and certain other languages. Share price: The latest share price and other information, includinghowtobuyorsellshares,areavailablefromthe website and address given above. Other share classes are offeredbythefundassetoutintheprospectus. Switching: Investors may switch shares in the Fund for shares in other sub-funds of BNY MIF provided they satisfy the criteria applicable to investment in other sub-funds. Further information on switching is contained in the Prospectus. Legal status: The assets of the Fund belong exclusively to that sub-fundandmaynotbeusedtodischargetheliabilitiesofor claims against any other person or body, including BNY MIF or any other sub-fund within the umbrella. The ongoing charge is based on expenses calculated on 31stDecember2016.Thismayvaryfromyeartoyear.It excludes performance fees and portfolio transaction costs, exceptinthecaseofanentry/exitchargepaidwhenbuyingor selling units in another mutual fund. More information about charges is available in the Prospectus. The chart includes all charges except entry charges. Fundlaunchdate-1September1993. Share class launch date- 5 September Performance of this share class is calculated in sterling. Past performance is not a guide to future performance. Liability statement: BNY Mellon Fund Managers Limited may beheldliablesolelyonthebasisofanystatementcontainedin this document that is misleading, inaccurate or inconsistent with the relevant parts of the Prospectus for the Fund. Depositary: National Westminster Bank plc. Tax:ThetaxlegislationoftheFund'sdomicilemayhavean impact on your personal tax position. For further details, please speak to an adviser. Remuneration Policy: Details of the up-to-date remuneration policy of BNY Mellon Fund Managers Limited including, but not limited to, a description of how remuneration and benefits are calculated and the identity of persons responsible for awarding the remuneration and benefits are available on A paper copy will be made available free of charge upon request. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. BNY Mellon Fund Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at 3 February 2017.

13 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. Old Mutual UK Alpha Fund U1 (GBP) Accumulation Units (GB00B946BX62) Objective: capital growth by predominantly investing in UK shares (i.e. equities) and similar investments of companies. Policy: the Fund will invest predominantly in UK company shares and similar investments. Companies may be of all sizes and in any industry (e.g. pharmaceuticals, finance, etc). The Fund will typically invest in the shares of fewer than 50 companies, and has no bias to any particular industry or country. The Fund may invest in derivatives (i.e. financial contracts whose value is linked to the expected price movements of an underlying investment) with the aim of reducing the overall costs and/or risks of the Fund. The investment adviser has discretion to select the Fund's investments but in doing so may take into consideration the FTSE All-Share Index. Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within 5 years. Treatment of income: As units in this class are accumulation units, income from investments will be reinvested into the Fund and reflected in the value of the units. Dealing: you can buy and sell units on any working day in London The calculated risk and reward category, as shown above, uses a method of calculation derived from EU rules. It is based on the rate at which the returns of the Fund have moved up and down in the past (i.e. volatility) and is not a guide to the future risk and reward category of the Fund. The category shown is not a target or guarantee and may shift over time. Even the lowest category 1 does not mean a risk-free investment. The seven-category scale is nonlinear, for example, 2 is not twice as risky as 1. Funds in category 5 have in the past shown moderately high volatility. With a fund of category 5, you have a moderately high risk of losing money but your chance for gains is also moderately high. Investment risk - there is no guarantee that the Fund will achieve its objective. A capital loss of some or all of the amount invested may occur. Geographic concentration risk - a fall in the UK market may have a significant impact on the value of the Fund because it primarily invests in this market. Concentration risk (number of investments) - the Fund may at times hold a smaller number of investments, and therefore a fall in the value of a single investment may have a greater impact on the Fund s value than if it held a larger number of investments. Currency risk - the Fund is denominated in British Pounds but may hold assets denominated in, or with exposure to, other currencies. The value of your units may rise and fall as a result of exchange rate movements between these currencies. Derivative risk - the Fund may use derivatives to reduce costs and/or the overall risk of the Fund (i.e. Efficient Portfolio Management (EPM)). Derivatives involve a level of risk, however, for EPM they should not increase the overall riskiness of the Fund. Derivatives also involve counterparty risk where the institutions acting as counterparty to derivatives may not meet their contractual obligations. Capital erosion risk - the Fund takes its charges from the capital of the Fund. Investors should be aware that there is potential for capital erosion if insufficient capital growth is achieved by the Fund to cover the charges. Capital erosion may have the effect of reducing the level of income generated. For a more detailed explanation of risks, please refer to the "Risks" section of the prospectus. DocID: KIID_GB00B946BX62_en_170217_U1 (GBP) Accumulation Units

14 These charges are used to pay the costs of running the Fund, including the costs of marketing and distribution. Overall, they reduce the growth of your investment. One-off charges taken before or after you invest Entry charge Up to 5.00% Exit charge This is the maximum that might be taken out of your money before it is invested and before the proceeds of your investment are paid out. Charges taken from the Fund over a year Ongoing charge 0.78% Charges taken from the fund under specific conditions Performance fee The charges shown are the maximum figures. In some cases you might pay less. You can find out your actual charges from your financial adviser. The ongoing charges figure is based on the annual management charge and the flat expense rate. It excludes 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 and may vary from year to year. You can find out more details about the charges by looking at Appendix A of the prospectus. U1 (GBP) Accumulation Units FTSE All Shares Index Gross (GBP) Past performance is not a guide to future performance. The value of the class is calculated in British Pounds. The past performance shown does not take into account any entry or exit charges but does take into account the ongoing charge, as shown in the Charges section. The Fund launched on 31 January This class started to issue units on 09 May The Trustee is Citibank Europe plc, UK branch. Old Mutual UK Alpha Fund is a sub-fund of Old Mutual MultiManager Trust (the "Trust"). The assets and liabilities of each sub-fund are segregated from other sub-funds although it is not yet known whether a foreign court would give effect to segregated liability under a foreign law contract and so this is not certain in every circumstance. Further information about the Trust, copies of its prospectus, annual and half-yearly reports may be obtained, for the entire Trust, free of charge in English from the registrar, IFDS, P.O. Box Chelmsford, CM99 2AR or visit Details of Old Mutual Investment Management Limited s remuneration policy which includes a description of how remuneration and benefits are calculated, the identities of the persons responsible for awarding remuneration and benefits and details of the remuneration committee, are available at A paper copy will be made available free of charge upon request to Old Mutual Investment Management Limited. The latest units prices are available from the registrar during normal business hours and will be published daily at You may switch your units to the units of another sub-fund of the Trust free of charge. For further details see the "Switching" section of the prospectus. This Fund is subject to tax laws and regulations of the United Kingdom. Depending on your home country of residence, this might have an impact on your personal tax position. For further details, please speak to your financial adviser. Old Mutual 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 Trust. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Old Mutual Investment Management Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at 17 February 2017.

15 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. Old Mutual UK Equity Fund R (GBP) Accumulation Shares (GB00B1XG9H11) Objective: long-term capital growth by investing primarily in shares (i.e. equities) and similar investments of companies listed or located in the UK. Policy: the Fund invests in UK company shares and similar investments. Companies may be of all sizes and in any industry (e.g. pharmaceuticals, finance, etc). The Fund will typically invest in the shares of fewer than 50 companies. The Fund may also use derivatives (i.e. financial contracts whose value is linked to the expected price movements of an underlying investment) with the aim of reducing the overall costs and/or risks of the Fund. The Fund is managed having regard to the FTSE All Shares Index; however the Fund does not track the Index. Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within 5 years. Treatment of income: As shares in this class are accumulation shares, income from investments will be reinvested into the Fund and reflected in the value of the shares. Dealing: you can buy and sell shares on any working day in London The calculated risk and reward category, as shown above, uses a method of calculation derived from EU rules. It is based on the rate at which the returns of the Fund have moved up and down in the past (i.e. volatility) and is not a guide to the future risk and reward category of the Fund. The category shown is not a target or guarantee and may shift over time. Even the lowest category 1 does not mean a risk-free investment. The seven-category scale is nonlinear, for example, 2 is not twice as risky as 1. Funds in category 6 have in the past shown relatively high volatility. With a fund of category 6, you have a relatively high risk of losing money but your chance for gains is also relatively high. Investment risk - there is no guarantee that the Fund will achieve its objective. A capital loss of some or all of the amount invested may occur. Geographic concentration risk - a fall in the UK market may have a significant impact on the value of the Fund because it primarily invests in this market. Concentration risk (number of investments) - the Fund may at times hold a smaller number of investments, and therefore a fall in the value of a single investment may have a greater impact on the Fund s value than if it held a larger number of investments. Currency risk - the Fund is denominated in British Pounds but may hold assets denominated in, or with exposure to, other currencies. The value of your shares may rise and fall as a result of exchange rate movements between these currencies. Derivative risk - the Fund may use derivatives to reduce costs and/or the overall risk of the Fund (i.e. Efficient Portfolio Management (EPM)). Derivatives involve a level of risk, however, for EPM they should not increase the overall riskiness of the Fund. Derivatives also involve counterparty risk where the institutions acting as counterparty to derivatives may not meet their contractual obligations. Capital erosion risk - the Fund takes its charges from the income of the Fund in the first instance. The impact of Fund charges may be material on the value of any income you receive from your investment. There is potential for capital erosion if insufficient income is generated by the Fund to cover these charges. Capital erosion may have the effect of reducing the level of income generated. For a more detailed explanation of risks, please refer to the "Risks" section of the prospectus. DocID: KIID_GB00B1XG9H11_en_170217_R (GBP) Accumulation Shares

16 These charges are used to pay the costs of running the Fund, including the costs of marketing and distribution. Overall, they reduce the growth of your investment. One-off charges taken before or after you invest Entry charge Exit charge This is the maximum that might be taken out of your money before it is invested and before the proceeds of your investment are paid out. Charges taken from the Fund over a year Ongoing charge 0.90% Charges taken from the fund under specific conditions Performance fee The charges shown are the maximum figures. In some cases you might pay less. You can find out your actual charges from your financial adviser. The ongoing charges figure is based on the annual management charge and the flat expense rate. It excludes 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 and may vary from year to year. You can find out more details about the charges by looking at Schedule 1 of the prospectus. R (GBP) Accumulation Shares FTSE All Shares Index Gross (GBP) Past performance is not a guide to future performance. The value of the class is calculated in British Pounds. The past performance shown does not take into account any entry or exit charges but does take into account the ongoing charge, as shown in the Charges section. The Fund launched on 29 March This class started to issue shares on 03 January The Depositary is Citibank Europe plc, UK branch. Old Mutual UK Equity Fund is a sub-fund of Old Mutual Investment Funds Series II (the "Company"). The assets and liabilities of each sub-fund are segregated from other sub-funds although it is not yet known whether a foreign court would give effect to segregated liability under a foreign law contract and so this is not certain in every circumstance. Further information about the Company, copies of its prospectus, annual and half-yearly reports may be obtained, for the entire Company, free of charge in English from the registrar, IFDS, P.O. Box Chelmsford, CM99 2AR or visit Details of Old Mutual Investment Management Limited s remuneration policy which includes a description of how remuneration and benefits are calculated, the identities of the persons responsible for awarding remuneration and benefits and details of the remuneration committee, are available at A paper copy will be made available free of charge upon request to Old Mutual Investment Management Limited. The latest share prices are available from the registrar during normal business hours and will be published daily at You may switch your shares to the shares of another sub-fund of the Company free of charge. For further details see the "Switching" section of the prospectus. This Fund is subject to tax laws and regulations of the United Kingdom. Depending on your home country of residence, this might have an impact on your personal tax position. For further details, please speak to your financial adviser. Old Mutual 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 Company. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Old Mutual Investment Management Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This key investor information is accurate as at 17 February 2017.

17 Non-UCITS retail scheme 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. Premier Multi-Asset Growth & Income Fund Class C Shares A sub-fund of the Premier Multi-Asset Fund 2 Class C Income Shares, ISIN no.gb00b78h4k93 (representative share class) & Class C Accumulation Shares, ISIN no.gb00bthh0c86 Authorised Corporate Director - Premier Portfolio Managers Ltd. Objectives and investment policy The aim of the Fund is to grow the value of your original investment over the long term and provide you with an income, paid twice a year. The Fund will mainly invest in a broad range of funds from different investment groups. These underlying funds will invest in a range of different assets including bonds, company shares, property and alternatives assets and which can cover the world s stockmarkets. The Fund may also hold other types of investment, including company shares, structured investments and fixed income assets. The Fund is actively managed which means that the Fund Manager will choose the investments, currencies and markets held in the Fund but always within the boundaries outlined in the Fund s objective and policy. The full investment objective and policy, which outline all the eligible investments, are available in the Fund s prospectus. You can buy, sell and switch shares in the Fund on any UK business day. We will need to receive your instruction before 12 noon to buy shares at that day s price. Terms Explained: Accumulation Shares: any income made by the Fund will be reinvested to grow the value of your investment. Income Shares: any income made by the Fund will be paid out to you. Funds: a general term used to describe collective investment schemes, such as unit trusts, open-ended investment companies and closedended investment companies. Structured Investments: a group of financial instruments which frequently combine the potential upside of market performance with limited downside. They may also provide a fixed return in exchange for accepting a degree of risk or may generate gains from market falls. They can also be used within a Fund to help manage the impact of large stockmarket fluctuations. 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 The Fund is ranked as 4 because it has experienced medium rises and falls in value over the past five years. Please note that even the lowest ranking does not mean a risk-free investment. The underlying assets held by the funds in which the Fund invests include equities which, as an asset class, tend to experience higher volatility than bonds or money market instruments, but this is tempered by diversification across other asset classes. The Fund is geographically diversified which reduces its vulnerability to adverse market sentiment in any one location but also exposes the Fund to additional risks. The level of targeted income is not guaranteed and may not be achieved. The indicator may not take fully into account the following risks of investing in this fund: Credit risk: if the issuer of an underlying security is unable to make income payments or to repay its debt. Liquidity risk: during difficult market conditions some underlying securities, such as emerging market equities or corporate bonds, may become more difficult to sell at a desired price. Some securities may have special liquidity arrangements within their documentation which allow them to temporarily suspend redemption; The Fund does not currently hold any securities which have suspended redemptions. Operational risk: arising from underlying investments in overseas markets, in particular emerging market countries, which may not have the same level of safekeeping or other controls as UK markets. Legal or tax risk: arising from a change in legal regulations, tax rules or the application of them. A more detailed description of the risks identified as being applicable to the Fund are set out in the Risk Factors section of the Prospectus. Page 1 of 2

18 Charges 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. Charges taken from the Fund over a year Ongoing charges 1.71% Charges taken from the Fund under specific conditions Switching charge (for switching into the Fund from another fund) 0.00%. 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). For more information about charges, please refer to the Fund's prospectus. For the Ongoing Charge, the figure was calculated as at 30/04/2016. Performance fee NONE Past performance % You should be aware that past performance is not a guide to future performance. Fund launch date: 11/12/2006. Share/unit class launch date: 05/11/2012. Performance is calculated in GBP. Performance is net of charges (excluding entry charge) and net of tax Fund Practical information This document should be read in conjunction with the Supplementary Information Document (SID). For further information about the Fund, including the SID, a free English language copy of the full Prospectus, half-yearly and annual reports and accounts (which are prepared in relation to Premier Multi-Asset Fund 2 of which the Fund is a sub-fund), please visit call us on or write to us at Premier Portfolio Managers Limited, PO Box 3733, Royal Wootton Bassett, Swindon SN4 4BG. You can also obtain other practical information including the current price of shares in the Fund on the website. You can exchange your shares for shares in other sub-funds of the Company, as and when they are available. For more information on how to switch to another sub-fund, please call us on or see the Prospectus on the website. The Fund s Depositary is Northern Trust Global Services Limited. UK tax legislation may have an impact on your personal tax position. The Fund has its own portfolio of assets and liabilities and its assets shall not be available to satisfy debts that have arisen in other sub-funds of the Company (this concept is known as segregated liability ). The Class C Income Shares have been used as representative. Information about the share classes available can be found in the Prospectus. A copy of the Remuneration Policy, which includes a description of how remuneration and benefits are calculated and the identity of those who make up the Remuneration Committee, which is responsible for awarding remuneration and benefits, is available within the Important Information section of the website ( A paper copy will be made available free of charge, upon request. The Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Premier Portfolio Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority of 25 the North Colonnade, Canary Wharf, London, E14 5HS with registered address Eastgate Court, High Street, Guildford, Surrey, GU1 3DE. Premier Portfolio Managers Ltd is registered in England No This Key Investor Information is accurate as at 20/02/2017. Page 2 of 2

19 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. Rathbone Global Opportunities Fund(R-Class) Fund Manager: Rathbone Unit Trust Management Limited Accumulation units ISIN: GB Objectives and investment policy The fund s objective is to seek above-average growth of your investment over the long term. Under normal circumstances, the fund invests mainly in shares of companies from around the world. The fund generally invests in companies that appear poised for above-average expansion yet have not been recognised by the market. The fund may also invest in other securities permitted by UCITS regulations. The fund may use investment techniques and derivatives for efficient portfolio management (including hedging). The fund is managed at the fund manager s discretion without reference to any benchmark. The manager uses its own analysis to identify those individual companies that can offer the best overall combination of price, risk and growth prospects. Designed for: Investors who understand the fund risks, want an investment that focuses on growth, and intend to invest their money for at least five years. You can buy and sell units on each business day of the fund between 9am and 5pm. The fund offers accumulation units (units in which any dividends received are added to the unit price). Terms to understand Derivatives: Financial instruments whose value is linked to one or more rates, indices, share prices or other values. Hedging: Using techniques to partially cancel out risks. Shares: For the purposes of the investment policy, securities that represent fractional ownership in a company (as distinct from portions of this fund). Risk and reward profile Lower potential risk/reward Higher potential risk/reward (Not risk-free) This indicator is a measure of the fund s past volatility (the extent and rapidity of up-and-down movements of the value of an investment). It may not be a reliable indication of the fund s future risk. The risk category shown is not a target or a guarantee and may change over time. The risk indicator for this fund reflects the following: As an asset class, shares have greater risk than either bonds or money market instruments. The value of investments in the fund and the income from them may go down as well as up and you may not get back your original investment when you sell your units. During unusual market conditions, the risks normally experienced by the fund may increase significantly, and in addition, the fund may be subject to the following risks: Counterparty risk:thefundcouldlosemoneyifanentitywithwhich it does business becomes unwilling or unable to honour its obligations to the fund. Currency risk:changes in currency exchange rates could adversely affect fund performance. Liquidity risk:during difficult market conditions, some securities may become hard to value or sell at a desired price. Management risk:investment management techniques that have worked well in normal market conditions could prove ineffective or detrimental in extreme market conditions. 1of2

20 Charges for this fund The fund manager receives an annual fee, which is included in the ongoing charges shown below. You may be eligible for lower entry charges than the maximum shown; ask your financial adviser. Ongoing charges are the same for all investors in the same class. The charges shown below are based on actual fees and expenses for the year ending 31 July One-off charges taken before or after you invest: Entry charge Exit charge 2.50 % (Maximum) none Charges taken from the fund over a year: Ongoing charges 1.54 % Charges taken from the fund under specific conditions: Performance fee none For more information about charges, please see the ''Charges'' section of the fund s Prospectus, available by calling the Information Line or ing rutm@rathbones.com. Past performance Basis of performance: mid to mid, accumulation units only. Fund inception: 9 May Rathbone Global Opportunities Fund R-Class in GBP 40% 30% 20% 10% 0% -10% -20% -30% -40% Fund %-39.4% 38.0% 26.6% -4.7% 9.5% 26.1% 8.7% 14.7% 15.9% 7.0%-20.6% 16.2% 13.4% -8.3% 11.8% 22.4% 11.3% 4.3% 29.6% FTSE World Index (no formal benchmarks, used for comparison only) Source: Financial Express and Rathbones Practical information Trustee: National Westminster Bank Plc. Additional information: This Key Investor Information Document (KIID) may not contain all the information you need. For additional information on the fund (including the Supplementary Information Document), on other units of this fund and on other funds, or to obtain a free copy of the fund s Prospectus or the annual and semi-annual unitholder reports, call the Information Line or write to the registered office, at the address below. Alternatively, visit The Prospectus and unitholder reports are in English. For fund performance and most recent unit price, go to rutm.com. Notices: Rathbone Unit Trust 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 fund. The up-to-date remuneration policy of the fund manager, including, but not limited to, a description of how remuneration and benefits are calculated, the identity of persons responsible for awarding the remuneration and benefits, including the composition of the remuneration committee, is available free of charge upon request at the fund manager s registered office. A summary thereof is available on rutm.com/pi/faq.aspx. 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 and the suitability of this investment. Address: Rathbone Unit Trust Management Limited 8 Finsbury Circus, London EC2M 7AZ Information line: Telephone: Facsimile: rutm@rathbones.com Website: rutm.com A member of the Rathbone Group. Registered No Publication date: This Key Investor Information Document is accurate as at 13 February This fund and Rathbone Unit Trust Management Limited are authorised and regulated by the Financial Conduct Authority (FCA). 2of2

21 Key Investor Information Document : 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 this fund. You are advised to read it so you can make an informed decision about whether to invest. ISIN GB00B1DSZS09 River and Mercantile Asset Management LLP River and Mercantile UK Equity Smaller Companies Fund B Acc River and Mercantile UK Equity Smaller Companies Fund B Acc, a sub fund of River and Mercantile Funds ICVC Objective & Investment Policy The investment objective of the Fund is to achieve capital growth by investing at least 80% of the fund in shares of UK companies which preside in the bottom 10% of the UK stock market in terms of market capitalisation. For these purposes UK companies include, but is not limited to, companies listed in the UK, companies domiciled in the UK and companies which have substantial operating activities in the UK. In addition to shares of UK companies, the Fund may also invest other transferable securities such as bonds, convertible bonds, preference shares, warrants, units in collective investment schemes, money market instruments, cash and deposits to the extent permitted by UCITS schemes regulations. Please refer to the Principal Prospectus, Appendix 1 for full details of the Fund's investment powers. The Fund may invest in derivatives" such as futures, options and swaps, which are linked to the rise and fall of other assets or investment indices. The price movements in these underlying assets and indices can result in larger movements in the price of the respective derivatives. Derivatives may only be used in the Fund for hedging purposes. Risks and Rewards This Fund is managed strictly in accordance with River and Mercantile s Corporate Governance, Voting and Engagement Policy" which expects company s senior management to adopt respectable and ethical business practices in the context of environment, social and governance matters. Full details of River and Mercantile s policy are available on our website. River and Mercantile Asset Management LLP (the ACD for River and Mercantile Funds ICVC) is subject to the remuneration policies and practices of River and Mercantile Group Plc as contained in its policy (the Remuneration Policy ), by virtue of being a member of the same group. Up-to-date details of the Remuneration Policy including, but not limited to, a description of how remuneration and benefits are calculated and the identity of the persons responsible for awarding the remuneration and benefits are available at and copies are available for all purchasers of shares on request, free of charge from the ACD. Lower Risk Higher Risk Typically Lower Rewards Typically Higher Rewards The Risk and Reward Indicator is based on how much the returns of the shares have varied over the last five years, or since launch (whichever is the shorter period). The higher the rank the greater the potential reward but also the greater the risk of losing money. The shaded area in the Indicator shows the Fund s ranking on the Risk Reward Indicator. The Indicator uses a standard calculation method that is used by all EU companies who offer such funds to allow you to compare funds. Historical data is used to calculate the ranking and this may not be a reliable indication for the future ranking and might change. The Fund may not achieve its investment objective and/or you could lose money on your investment in the Fund. The following risks are materially relevant to the fund but may not be adequately captured by the Risk and Reward Indicator, and may cause additional loss: Liquidity risk: securities in the fund may be sold below their valuation due to insufficient liquidity in the market. The Fund is authorised in the U.K. and regulated by the Financial Conduct Authority, Operator reference This key investor information is accurate as at 16-Jan Page 1/2

22 River and Mercantile UK Equity Smaller Companies Fund B Acc River and Mercantile UK Equity Smaller Companies Fund B Acc, a sub fund of River and Mercantile Funds ICVC Charges The charges levied by the Fund are used to pay the costs of managing and running the Fund. These charges reduce the income generated by the Fund and reduce the overall return of your investment. One-off charges taken before or after you invest. Entry charge 5.25% Exit charge 0.00% Charges taken from the fund over a year On-going Charges Figure 0.80% Performance fee 0.00% Performance Source: Morningstar The entry charges shown are maximum figures. This is the maximum that might be taken out of your money before it is invested. In some cases you might pay less you can find this out from your financial adviser or intermediary. The on-going charges figure is based on the expenses of the Fund for the 12 month period to 30th September This figure may vary year on year. It excludes transaction costs charged to the fund such as broker s commission and local taxes of buying and selling securities in the underlying Fund. For more information about charges please see pages 31 to 37 of the Fund s Principal Prospectus. The graph shows full calendar year performance in GBP for the Fund following a launch date: 30/11/2006 Performance shown takes into account ongoing charges, but not entry fees, and is calculated in pounds sterling on a Net Asset Value basis with net dividends reinvested. Past performance is not a guide to future performance. Please remember that prices may fluctuate and you may not get back your original investment. Note during the performance period from launch to 16 July 2012 Annual Management Charge was 0%. With effect from 16th July 2012 the Annual Management Charge became 0.75%. Practical Information Depositary: BNY Mellon Trust and Depositary (UK) Ltd is the depositary for this Fund. Further Information: Detailed information on this Fund, including how to buy, sell and switch shares and other share classes available can be found within the Principal Prospectus and the annual and semi-annual reports which are available free of charge. These documents are only available in English and can be downloaded from our website ( or you can call us on +44 (0) Daily prices are also available from our website. Practical Information: This document contains information on the B class Accumulation shares only. The Fund is a sub-fund of the River and Mercantile Funds ICVC and regulated and authorised by the Financial Conduct Authority in the UK. The assets of the River and Mercantile UK Equity Smaller Companies Fund belong exclusively to it and are not available to meet the liabilities of any other sub-group of River and Mercantile Funds ICVC. Tax Legislation: The tax laws of the UK, in addition to the tax laws of your country of residence, may impact how your investment in the Fund is taxed. You are advised to seek professional tax advice. Liability Statement: River and Mercantile Asset Management LLP 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. Fund information: Investors may redeem their shares in the Fund on a daily basis, provided it is a business day (ie excludes weekends and UK bank holidays). This Fund may not be appropriate for investors who plan to withdraw their money within five years. The Fund is authorised in the U.K. and regulated by the Financial Conduct Authority, Operator reference This key investor information is accurate as at 16-Jan Page 2/2

23 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. Royal London Corporate Bond Fund (Accumulation - Class M Shares) A sub-fund of Royal London Bond Funds ICVC ISIN: GB00B87FJ401 Managed by Royal London Unit Trust Managers Limited Key Investor Information Objectives and investment policy Objective To achieve a combination of mainly income with some capital growth over the medium to long term. Policy The Fund invests mainly in high quality sterling denominated bonds issued by companies. The Fund may use derivatives, but for efficient portfolio management purposes only. Recommendation The Fund may not be appropriate for investors who plan to withdraw their money within 5 years. Concepts to understand Bonds Securities that represent an obligation to repay a debt, with interest. High quality bonds are those that are viewed as being highly likely to make all scheduled payments of interest and principal. Low quality bonds carry higher risk but also typically pay higher rates of interest. Derivative A financial instrument whose price is dependent upon or derived from one or more underlying asset. Efficient Portfolio Management An investment technique that allows the use of derivatives for at least one of the following purposes: to increase the value of the Fund; to protect the value of the Fund or to reduce the risks of certain investments. You can buy and sell your shares on each working day, except public holidays, at 12:00 noon if you tell us before 12:00 noon that you want to do so. Instructions received after 12:00 noon will be processed at 12:00 noon on the following working day. The Fund issues only income shares (shares in which any net income is paid out to you). The following share classes are available for the Fund: Income A, Income M, Accumulation M, Income Y, Accumulation Y, Income Z. All share classes are subject to a minimum investment. If this is an income share class, any net income will be paid out to you. If this is an accumulation share class, any net income will be reinvested in the Fund. Risk and reward profile Lower potential risk/reward Higher potential risk/reward The risk and reward indicator is not a measure of the expected rise or fall in capital but shows how sharply the Fund s share price has gone up and down historically. A fund whose share price has experienced sharp or large increases or decreases will sit in a higher risk category, whereas a fund whose share price has experienced small or gradual increases or decreases will sit in a lower risk category. The Fund is ranked in risk category 3 because its unit price has shown a low to medium level of volatility historically. As an investment, bonds are typically more volatile than money market instruments but less volatile than shares. Bonds issued by corporations are typically more volatile than bonds issued by governments. The indicator has been calculated using historical data and may not be a reliable indication of the future risk profile of the Fund. The indicator is calculated using a standard methodology that is used by all companies offering such funds in Europe. The risk/reward indicator is an estimate and not a guarantee. Going forward, the Fund s actual volatility could be higher or lower, and its rated risk/reward profile could change. The lowest risk category does not mean the investment is risk free. The risk indicator does not adequately capture the following risks, which are materially relevant to the Fund: Concentration Risk Funds which invest in a smaller number of securities can carry more risk than funds spread across a larger number of companies. To the extent that the Fund has exposure to an issuer, geographical area or type of security that is heavily affected by an event, either positive or negative, its value may rise or fall. Credit Risk Issuers of certain fixed income securities could become unable to make income or capital payments on their debt. As such the value of a security will fall in the event of a rating downgrade or default of the issuer. In general fixed income securities that pay a higher level of income usually have a lower credit rating because of the increased risk of default. Interest Rate Risk Fixed interest securities are particularly affected by trends in interest rates and inflation. If interest rates go up, the value of capital may fall, and vice versa. Inflation will also decrease the real value of capital. For more about fund risks, see the risk factors section in the full Prospectus ( Prices/) 1of2

24 Charges The charges you pay as an investor in the Fund go to cover fund operating costs. These charges reduce the performance of your investment. One-off charges taken before or after you invest: Entry charge 0.00% Exit charge 0.00% Charges taken from the fund over a year: Ongoing charge 0.51% Charges taken from the fund under specific conditions: Performance fee none The entry and exit charge 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. The charges you pay are used to pay the costs of running the Fund. These charges reduce the potential growth of the investment. For the entry and exit charges, if you are not eligible for this share class you will pay more than the amounts shown. Consult your financial adviser. The ongoing charges figure is based on expenses for the year ending 31 October This figure may vary from year to year and does not include portfolio transaction costs. Ongoing charges are the same for all investors. For more about charges, see the expenses section in the full Prospectus and supplement ( Prices/) Past performance The graph shows fund performance over the past 5 years where available. Past performance is no guarantee of future performance. The figure for a given year shows how much the Fund increased or decreased in value during that year. These results reflect ongoing charges taken from the Fund, but do not reflect any entry charges you might have to pay. The Fund was launched on 29 March 1999 and the share class on 26 November The Fund was initially launched as a unit trust but was converted to an open-ended investment company (OEIC) with effect from 30 April The Royal London Corporate Bond Fund (Accumulation - Class M Shares) (Class M) in GBP 14% 12% 10% 8% 6% 4% 2% 0% Fund Practical information Depository HSBC Bank plc Additional Information: This Key Investor Information Document (KIID) may not contain all the information you need. For additional information on the Fund (including the Supplementary Information Document), on other shares of this Fund and on other funds, or to obtain a free copy of the Fund s Prospectus or the annual and semi-annual shareholder reports, call the Information Line or write to the registered office, details of which are below. Alternatively, visit The Prospectus and shareholder reports are in English. This KIID describes one share class of the Fund. The Prospectus and annual and semi-annual shareholder reports are prepared for the entire Fund across all share classes. For fund performance and most recent share price, go to Should you wish to switch share classes or funds, please see the Switching section of the Prospectus for details. 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: Royal London Unit Trust Managers 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. The fund is a sub-fund of Royal London Bond Funds ICVC (a UCITS umbrella company). The prospectus and long reports (shareholder reports) are prepared for the entire company. The assets and liabilities of each sub-fund are segregated by law. Therefore, the assets of the fund belong exclusively to it and are not available to meet the liabilities of any other fund of Royal London Bond Funds ICVC. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). Details of the Company's remuneration policy are available at including: (a) a description of how remuneration and benefits are calculated; and (b) the identities of persons responsible for awarding remuneration and benefits. A paper copy of these details may be obtained, free of charge, on request from the Company, at the address below. Address: Royal London Asset Management 55 Gracechurch Street, London EC3V 0RL Telephone: Website: A member of the Investment Association Publication Date: This Key Investor Information is accurate as at 14 February Key Investor Information 2 of 2 Royal London Corporate Bond Fund (Accumulation - Class M Shares)

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. Royal London UK Equity Income Fund (Accumulation - Class M Shares) A sub-fund of Royal London Equity Funds ICVC ISIN: GB00B8Y4ZB91 Managed by Royal London Unit Trust Managers Limited Objectives and investment policy Objective To achieve a combination of income and some capital growth. Policy The Fund invests mainly in the shares of UK companies which pay a higher level of income. The Fund may also invest a small portion in other UK shares. The Fund may use derivatives, but for efficient portfolio management purposes only. Recommendation The Fund may not be appropriate for investors who plan to withdraw their money within 5 years. Concepts to understand Derivative A financial instrument whose price is dependent upon or derived from one or more underlying asset. Efficient Portfolio Management An investment technique that allows the use of derivatives for at least one of the following purposes: to increase the value of the Fund; to protect the value of the Fund or to reduce the risks of certain investments. UK companies Companies which are established in the UK or which carry out a significant part of their business activities in the UK. You can buy and sell your shares on each working day, except public holidays, at 12:00 noon if you tell us before 12:00 noon that you want to do so. Instructions received after 12:00 noon will be processed at 12:00 noon on the following working day. The following share classes are available for the Fund: Income A, Income M, Accumulation M, Income Z. All share classes are subject to a minimum investment. If this is an income share class, any net income will be paid out to you. If this is an accumulation share class, any net income will be reinvested in the Fund. Risk and reward profile Lower potential risk/reward Higher potential risk/reward The risk and reward indicator is not a measure of the expected rise or fall in capital but shows how sharply the Fund s share price has gone up and down historically. A fund whose share price has experienced sharp or large increases or decreases will sit in a higher risk category, whereas a fund whose share price has experienced small or gradual increases or decreases will sit in a lower risk category. The Fund is ranked in risk category 5 because its unit price has shown a medium to high level of volatility historically. As an investment, bonds are typically more volatile than money market instruments but less volatile than shares. Bonds issued by corporations are typically more volatile than bonds issued by governments. The indicator has been calculated using historical data and may not be a reliable indication of the future risk profile of the Fund. The indicator is calculated using a standard methodology that is used by all companies offering such funds in Europe. The risk/reward indicator is an estimate and not a guarantee. Going forward, the Fund s actual volatility could be higher or lower, and its rated risk/reward profile could change. The lowest risk category does not mean the investment is risk free. The risk indicator does not adequately capture the following risks, which are materially relevant to the Fund: Concentration Risk Funds which invest in a smaller number of securities can carry more risk than funds spread across a larger number of companies. To the extent that the Fund has exposure to an issuer, geographical area or type of security that is heavily affected by an event, either positive or negative, its value may rise or fall. Liquidity Risk In difficult market conditions the value of certain fund investments may be less predictable than normal. In some cases this may make such investments harder to sell at the last quoted market price, or at a price considered to be fair. Such conditions could result in unpredictable changes in the value of your holding. For more about fund risks, see the risk factors section in the full Prospectus ( Prices/) 1of2

26 Charges The charges you pay as an investor in the Fund go to cover fund operating costs. These charges reduce the performance of your investment. One-off charges taken before or after you invest: Entry charge 0.00% Exit charge 0.00% Charges taken from the fund over a year: Ongoing charge 0.68% Charges taken from the fund under specific conditions: Performance fee none The entry and exit charge 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. For the entry and exit charges, if you are not eligible for this share class you will pay more than the amounts shown. Consult your financial adviser. The ongoing charges figure is based on expenses for the year ending 31 August This figure may vary from year to year and does not include portfolio transaction costs. Ongoing charges are the same for all investors. The charges you pay are used to pay the costs of running the Fund. These charges reduce the potential growth of the investment. For more about charges, see the expenses section in the full Prospectus and supplement ( Prices/) Past performance The graph shows fund performance over the past 5 years where available. Past performance is no guarantee of future performance. The figure for a given year shows how much the Fund increased or decreased in value during that year. These results reflect ongoing charges taken from the Fund, but do not reflect any entry charges you might have to pay. The Fund was launched on 11 April 1984 and the share class on 26 November The Fund was initially launched as a unit trust but was converted to an open-ended investment company (OEIC) with effect from 5 November The Royal London UK Equity Income Fund (Accumulation - Class M Shares) (Class M) in GBP 35% 30% 25% 20% 15% 10% 5% 0% Fund Practical information Depository HSBC Bank plc Additional Information: This Key Investor Information Document (KIID) may not contain all the information you need. For additional information on the Fund (including the Supplementary Information Document), on other shares of this Fund and on other funds, or to obtain a free copy of the Fund s Prospectus or the annual and semi-annual shareholder reports, call the Information Line or write to the registered office, details of which are below. Alternatively, visit The Prospectus and shareholder reports are in English. This KIID describes one share class of the Fund. The Prospectus and annual and semi-annual shareholder reports are prepared for the entire Fund across all share classes. For fund performance and most recent share price, go to Should you wish to switch share classes or funds, please see the Switching section of the Prospectus for details. 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: Royal London Unit Trust Managers 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. The Fund is a sub-fund of Royal London Equity Funds ICVC (a UCITS umbrella company). The prospectus and long reports (shareholder reports) are prepared for the entire company. The assets and liabilities of each sub-fund are segregated by law. Therefore, the assets of the fund belong exclusively to it and are not available to meet the liabilities of any other fund of Royal London Equity Funds ICVC. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). Details of the Company's remuneration policy are available at including: (a) a description of how remuneration and benefits are calculated; and (b) the identities of persons responsible for awarding remuneration and benefits. A paper copy of these details may be obtained, free of charge, on request from the Company, at the address below. Address: Royal London Asset Management 55 Gracechurch Street, London EC3V 0RL Telephone: Website: A member of the Investment Association Publication Date: This Key Investor Information is accurate as at 14 February Key Investor Information 2 of 2 Royal London UK Equity Income Fund (Accumulation - Class M Shares)

27 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. Royal London UK Government Bond Fund (Accumulation - Class M Shares) A sub-fund of Royal London Bond Funds ICVC ISIN: GB00B881TW52 Managed by Royal London Unit Trust Managers Limited Objectives and investment policy Objective To achieve a combination of income and capital growth over the medium to long term. Policy The Fund invests mainly in bonds issued or backed by the UK government. The Fund may also invest in bonds issued by companies that are of the highest credit quality. The Fund may use derivatives, but for efficient portfolio management purposes only. Recommendation The Fund may not be appropriate for investors who plan to withdraw their money within 5 years. Concepts to understand Bonds Securities that represent an obligation to repay a debt, with interest. High quality bonds are those that are viewed as being highly likely to make all scheduled payments of interest and principal. Low quality bonds carry higher risk but also typically pay higher rates of interest. Derivative A financial instrument whose price is dependent upon or derived from one or more underlying asset. Efficient Portfolio Management An investment technique that allows the use of derivatives for at least one of the following purposes: to increase the value of the Fund; to protect the value of the Fund or to reduce the risks of certain investments. You can buy and sell your shares on each working day, except public holidays, at 12:00 noon if you tell us before 12:00 noon that you want to do so. Instructions received after 12:00 noon will be processed at 12:00 noon on the following working day. The following share classes are available for the Fund: Income A, Income M, Accumulation M, Income Z. All share classes are subject to a minimum investment. If this is an income share class, any net income will be paid out to you. If this is an accumulation share class, any net income will be reinvested in the Fund. Risk and reward profile Lower potential risk/reward Higher potential risk/reward The risk and reward indicator is not a measure of the expected rise or fall in capital but shows how sharply the Fund s share price has gone up and down historically. A fund whose share price has experienced sharp or large increases or decreases will sit in a higher risk category, whereas a fund whose share price has experienced small or gradual increases or decreases will sit in a lower risk category. The Fund is ranked in risk category 4 because its simulated unit price has shown a medium level of volatility historically. The SRRI was calculated using some synthetic data and may not be a reliable indication of the future risk profile. As an investment, bonds are typically more volatile than money market instruments but less volatile than shares. Bonds issued by corporations are typically more volatile than bonds issued by governments. The indicator is calculated using a standard methodology that is used by all companies offering such funds in Europe. The risk/reward indicator is an estimate and not a guarantee. Going forward, the Fund s actual volatility could be higher or lower, and its rated risk/reward profile could change. The lowest risk category does not mean the investment is risk free. The risk indicator does not adequately capture the following risks, which are materially relevant to the Fund: Concentration Risk Funds which invest in a smaller number of securities can carry more risk than funds spread across a larger number of companies. To the extent that the Fund has exposure to an issuer, geographical area or type of security that is heavily affected by an event, either positive or negative, its value may rise or fall. Credit Risk Issuers of certain fixed income securities could become unable to make income or capital payments on their debt. As such the value of a security will fall in the event of a rating downgrade or default of the issuer. In general fixed income securities that pay a higher level of income usually have a lower credit rating because of the increased risk of default. Interest Rate Risk Fixed interest securities are particularly affected by trends in interest rates and inflation. If interest rates go up, the value of capital may fall, and vice versa. Inflation will also decrease the real value of capital. For more about fund risks, see the risk factors section in the full Prospectus ( Prices/) 1of2

28 Charges The charges you pay as an investor in the Fund go to cover fund operating costs. These charges reduce the performance of your investment. One-off charges taken before or after you invest: Entry charge 0.00% Exit charge 0.00% Charges taken from the fund over a year: Ongoing charge 0.43% Charges taken from the fund under specific conditions: Performance fee none The entry and exit charge 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. For the entry and exit charges, if you are not eligible for this share class you will pay more than the amounts shown. Consult your financial adviser. The ongoing charges figure is based on expenses for the year ending 31 October This figure may vary from year to year and does not include portfolio transaction costs. Ongoing charges are the same for all investors. The charges you pay are used to pay the costs of running the Fund. These charges reduce the potential growth of the investment. For more about charges, see the expenses section in the full Prospectus and supplement ( Prices/) Past performance The graph shows fund performance over the past 5 years where available. Past performance is no guarantee of future performance. The figure for a given year shows how much the Fund increased or decreased in value during that year. These results reflect ongoing charges taken from the Fund, but do not reflect any entry charges you might have to pay. The Fund was launched on 8 February 1990 and the share class on 26 November The Fund was initially launched as a unit trust but was converted to an open-ended investment company (OEIC) with effect from 30 April The Royal London UK Government Bond Fund (Accumulation - Class M Shares) (Class M) in GBP 12% 10% 8% 6% 4% 2% 0% -2% -4% -6% Fund Practical information Depository HSBC Bank plc Additional Information: This Key Investor Information Document (KIID) may not contain all the information you need. For additional information on the Fund (including the Supplementary Information Document), on other shares of this Fund and on other funds, or to obtain a free copy of the Fund s Prospectus or the annual and semi-annual shareholder reports, call the Information Line or write to the registered office, details of which are below. Alternatively, visit The Prospectus and shareholder reports are in English. This KIID describes one share class of the Fund. The Prospectus and annual and semi-annual shareholder reports are prepared for the entire Fund across all share classes. For fund performance and most recent share price, go to Should you wish to switch share classes or funds, please see the Switching section of the Prospectus for details. 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: Royal London Unit Trust Managers 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. The fund is a sub-fund of Royal London Bond Funds ICVC (a UCITS umbrella company). The prospectus and long reports (shareholder reports) are prepared for the entire company. The assets and liabilities of each sub-fund are segregated by law. Therefore, the assets of the fund belong exclusively to it and are not available to meet the liabilities of any other fund of Royal London Bond Funds ICVC. This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). Details of the Company's remuneration policy are available at including: (a) a description of how remuneration and benefits are calculated; and (b) the identities of persons responsible for awarding remuneration and benefits. A paper copy of these details may be obtained, free of charge, on request from the Company, at the address below. Address: Royal London Asset Management 55 Gracechurch Street, London EC3V 0RL Telephone: Website: A member of the Investment Association Publication Date: This Key Investor Information is accurate as at 14 February Key Investor Information 2 of 2 Royal London UK Government Bond Fund (Accumulation - Class M Shares)

29 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. Schroder Asian Alpha Plus Fund an Authorised Unit Trust of Schroder Unit Trusts Limited Class Z Accumulation GBP (GB00B5BG4980) This fund is managed by Schroder Unit Trusts Limited, which is a member of the Schroders Group. Objectives and Investment Policy Objectives The fund aims to provide capital growth by investing in equities of Asian companies, excluding Japan. Investment Policy The fund invests at least 80% of its assets in equities of Asian companies, excluding Japan. The fund benefits from the manager's established research capabilities in the Asia (excluding Japan) region that identifies companies with positive cash flow, balance-sheet strength and valuation support. The fund may also invest in bonds, real estate investment trusts, collective investment schemes and warrants, and hold cash. The fund may use derivatives with the aim of achieving investment gains, reducing risk or managing the fund more efficiently. Risk and Reward Profile Lower risk Potentially lower reward Higher risk Potentially higher reward The risk and reward indicator The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund is in this category because it can take higher risks in search of higher rewards and its price may rise and fall accordingly. Risk factors The following risks may affect fund performance. China country risk: Changes in China's political, legal, economic or tax policies could cause losses or higher costs for the fund. Counterparty risk: The counterparty to a derivative or other contractual agreement or synthetic financial product could Benchmark This unit class is managed with reference to the MSCI AC Asia ex Japan NDR financial index. The manager invests on a discretionary basis and is not limited to investing in accordance with the composition of this benchmark. Dealing Frequency You may redeem your investment upon demand. This fund deals daily. Distribution Policy This unit class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the unit class. become unable to honour its commitments to the fund, potentially creating a partial or total loss for the fund. Currency risk: The fund can be exposed to different currencies. Changes in foreign exchange rates could create losses. Derivatives risk: A derivative may not perform as expected, and may create losses greater than the cost of the derivative. Emerging markets & frontier risk: Emerging markets, and especially frontier markets, generally carry greater political, legal, counterparty and operational risk. Equity risk: Equity prices fluctuate daily, based on many factors including general, economic, industry or company news. Leverage risk: The fund uses derivatives for leverage, which makes it more sensitive to certain market or interest rate movements and may cause above-average volatility and risk of loss. Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares. Operational risk: Failures at service providers could lead to disruptions of fund operations or losses.

30 Schroder Unit Trusts Limited Schroder Asian Alpha Plus Fund Charges One-off charges taken before or after you invest Entry charge Exit charge This is the maximum that might be taken out of your money before it is invested. Charges taken from the fund over a year Ongoing Charge 0.96% Charges taken from the fund under certain specific conditions Performance fee 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. The entry and exit charges shown are maximum figures and in some cases you might pay less. You can find out the actual entry and exit charges from your financial advisor. The ongoing charges figure is based on the last year's expenses for the year ending June 2016 and may vary from year to year. Please see the prospectus for more details about the charges. Past Performance % Q Z Accumulation GBP (GB00B5BG4980) Q MSCI AC Asia ex Japan NDR The fund was converted from a non-ucits retail fund to a UCITS fund on 1st April This unit class was managed with reference to MSCI AC Far East ex Japan Net TR GBP financial index until September Performance shown during this period predates the launch of this unit class and has been simulated using the history of a similar unit class within the fund. 1 Past performance is not a guide to future performance and may not be repeated. The value of investments may go down as well as up and you may not get back the amount you originally invested. The chart shows performance in British pound after the ongoing charges and the portfolio transaction costs have been paid. The fund was launched on 26 November Practical Information Trustee: J. P. Morgan Europe Ltd. Further Information: You can get further information about this fund, including the prospectus, latest annual report, any subsequent half-yearly reports and the latest price of units from and from Schroders, PO Box 1102, Chelmsford, Essex, CM99 2XX, England, telephone They are in English, free of charge. Tax Legislation: The fund is subject to UK tax legislation which may have an impact on your personal tax position. Switches: Subject to conditions, you may apply to switch your investment into another unit class within this fund or in another Schroder fund. Please see the prospectus for more details. Remuneration Policy: A summary of Schroders' remuneration policy and related disclosures is at A paper copy is available free of charge upon request. Glossary: You can find an explanation of some of the terms used in this document at This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). This key investor information is accurate as at 17 February 2017.

31 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. Schroder Asian Income Fund an Authorised Unit Trust of Schroder Unit Trusts Limited Class Z Accumulation GBP (GB00B5BJ7M17) This fund is managed by Schroder Unit Trusts Limited, which is a member of the Schroders Group. Objectives and Investment Policy Objectives The fund aims to provide capital growth and income over the long term by investing in equities of Asia Pacific companies excluding Japan but including Australia and New Zealand. Investment Policy The fund invests at least 80% of its assets in equiteis of Asia Pacific companies excluding Japan, but including Australia and New Zealand which offer dividend payments. The fund may also invest in collective investment schemes and warrants, and hold cash. The fund may use derivatives with the aim of reducing risk or managing the fund more efficiently. Risk and Reward Profile Lower risk Potentially lower reward Higher risk Potentially higher reward The risk and reward indicator The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund is in this category because it can take higher risks in search of higher rewards and its price may rise and fall accordingly. Risk factors The following risks may affect fund performance. Benchmark This unit class is managed with reference to the MSCI AC Pacific ex Japan (NDR) financial index. The manager invests on a discretionary basis and is not limited to investing in accordance with the composition of this benchmark. Dealing Frequency You may redeem your investment upon demand. This fund deals daily. Distribution Policy This unit class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the unit class. China country risk: Changes in China's political, legal, economic or tax policies could cause losses or higher costs for the fund. Currency risk: The fund can be exposed to different currencies. Changes in foreign exchange rates could create losses. Emerging markets & frontier risk: Emerging markets, and especially frontier markets, generally carry greater political, legal, counterparty and operational risk. Equity risk: Equity prices fluctuate daily, based on many factors including general, economic, industry or company news. Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares. Operational risk: Failures at service providers could lead to disruptions of fund operations or losses.

32 Schroder Unit Trusts Limited Schroder Asian Income Fund Charges One-off charges taken before or after you invest Entry charge Exit charge This is the maximum that might be taken out of your money before it is invested. Charges taken from the fund over a year Ongoing Charge 0.93% Charges taken from the fund under certain specific conditions Performance fee Past Performance % Q Z Accumulation GBP (GB00B5BJ7M17) Q MSCI AC Pacific ex Japan (NDR) 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. The entry and exit charges shown are maximum figures and in some cases you might pay less. You can find out the actual entry and exit charges from your financial advisor. The ongoing charges figure is based on the last year's expenses for the year ending July 2016 and may vary from year to year. When buying back units, the manager may sell them to other investors and retain the difference between the bid and offer price. Please see the prospectus for more details about the charges. Past performance is not a guide to future performance and may not be repeated. The value of investments may go down as well as up and you may not get back the amount you originally invested. The chart shows performance in British pound after the ongoing charges and the portfolio transaction costs have been paid. The fund was launched on 19 February Performance shown during this period predates the launch of this unit class and has been simulated using the history of a similar unit class within the fund. 2 This unit class was managed with reference to the MSCI AC Pacific (Japan at 10%) index until December Practical Information Trustee: J. P. Morgan Europe Ltd. Further Information: You can get further information about this fund, including the prospectus, latest annual report, any subsequent half-yearly reports and the latest price of units from and from Schroders, PO Box 1102, Chelmsford, Essex, CM99 2XX, England, telephone They are in English, free of charge. Tax Legislation: The fund is subject to UK tax legislation which may have an impact on your personal tax position. Liability: Schroder Unit Trusts 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 fund's prospectus. Switches: Subject to conditions, you may apply to switch your investment into another unit class within this fund or in another Schroder fund. Please see the prospectus for more details. Remuneration Policy: A summary of Schroders' remuneration policy and related disclosures is at A paper copy is available free of charge upon request. Glossary: You can find an explanation of some of the terms used in this document at This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). This key investor information is accurate as at 17 February 2017.

33 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. Schroder European Fund an Authorised Unit Trust of Schroder Unit Trusts Limited Class Z Accumulation GBP (GB00B76V8C37) This fund is managed by Schroder Unit Trusts Limited, which is a member of the Schroders Group. Objectives and Investment Policy Objectives The fund aims to provide capital growth by investing in equities of European companies, excluding the UK. Investment Policy The fund invests at least 80% of its assets in equities of large and mid sized European companies, excluding the UK. These are companies that, at the time of purchase, are considered to be in the top 90% by market capitalisation of the European equities market. The fund may also invest in collective investment schemes and warrants, and hold cash. The fund may use derivatives with the aim of reducing risk or managing the fund more efficiently. Risk and Reward Profile Lower risk Potentially lower reward Higher risk Potentially higher reward The risk and reward indicator The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund is in this category because it can take higher risks in search of higher rewards and its price may rise and fall accordingly. Benchmark This unit class is managed with reference to the FTSE World Series Europe ex UK TR GBP financial index. The manager invests on a discretionary basis and is not limited to investing in accordance with the composition of this benchmark. Dealing Frequency You may redeem your investment upon demand. This fund deals daily. Distribution Policy This unit class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the unit class. Risk factors The following risks may affect fund performance. Currency risk: The fund can be exposed to different currencies. Changes in foreign exchange rates could create losses. Equity risk: Equity prices fluctuate daily, based on many factors including general, economic, industry or company news. Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares. Operational risk: Failures at service providers could lead to disruptions of fund operations or losses.

34 Schroder Unit Trusts Limited Schroder European Fund Charges One-off charges taken before or after you invest Entry charge Exit charge This is the maximum that might be taken out of your money before it is invested. Charges taken from the fund over a year Ongoing Charge 0.92% Charges taken from the fund under certain specific conditions Performance fee Past Performance % Q Z Accumulation GBP (GB00B76V8C37) Q FTSE World Series Europe ex UK TR GBP 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. The entry and exit charges shown are maximum figures and in some cases you might pay less. You can find out the actual entry and exit charges from your financial advisor. The ongoing charges figure is based on the last year's expenses for the year ending July 2016 and may vary from year to year. Please see the prospectus for more details about the charges. Past performance is not a guide to future performance and may not be repeated. The value of investments may go down as well as up and you may not get back the amount you originally invested. The chart shows performance in British pound after the ongoing charges and the portfolio transaction costs have been paid. The fund was launched on 30 April Performance shown during this period predates the launch of this unit class and has been simulated using the history of a similar unit class within the fund. Practical Information Trustee: J. P. Morgan Europe Ltd. Further Information: You can get further information about this fund, including the prospectus, latest annual report, any subsequent half-yearly reports and the latest price of units from and from Schroders, PO Box 1102, Chelmsford, Essex, CM99 2XX, England, telephone They are in English, free of charge. Tax Legislation: The fund is subject to UK tax legislation which may have an impact on your personal tax position. Liability: Schroder Unit Trusts 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 fund's prospectus. Switches: Subject to conditions, you may apply to switch your investment into another unit class within this fund or in another Schroder fund. Please see the prospectus for more details. Remuneration Policy: A summary of Schroders' remuneration policy and related disclosures is at A paper copy is available free of charge upon request. Glossary: You can find an explanation of some of the terms used in this document at This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). This key investor information is accurate as at 17 February 2017.

35 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. Schroder European Opportunities Fund a sub-fund of Schroder Investment Fund Company Class Z Accumulation GBP (GB ) This fund is managed by Schroder Unit Trusts Limited, which is a member of the Schroders Group. Objectives and Investment Policy Objectives The fund aims to provide capital growth. Investment Policy At least 80% of the fund will be invested in shares of large and medium-sized European companies, excluding the UK. The fund has no bias to any particular industry. The fund follows an investment approach based around the business cycle, where the managers attempt to identify turning points in the cycle and then focus on the types of companies they believe will benefit from it. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to reduce risk or manage the fund more efficiently. Risk and Reward Profile Lower risk Potentially lower reward Higher risk Potentially higher reward The risk and reward indicator The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund is in this category because it can take higher risks in search of higher rewards and its price may rise and fall accordingly. Benchmark This unit class is managed with reference to the FTSE World Series Europe ex UK TR GBP financial index. The manager invests on a discretionary basis and is not limited to investing in accordance with the composition of this benchmark. Dealing Frequency You may redeem your investment upon demand. This fund deals daily. Distribution Policy This share class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the share class. Risk factors The following risks may affect fund performance. Currency risk: The fund can be exposed to different currencies. Changes in foreign exchange rates could create losses. Equity risk: Equity prices fluctuate daily, based on many factors including general, economic, industry or company news. Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares. Operational risk: Failures at service providers could lead to disruptions of fund operations or losses.

36 Schroder Investment Fund Company Schroder European Opportunities Fund Charges One-off charges taken before or after you invest Entry charge Exit charge This is the maximum that might be taken out of your money before it is invested. Charges taken from the fund over a year Ongoing Charge 0.92% Charges taken from the fund under certain specific conditions Performance fee Past Performance % Q Z Accumulation GBP (GB ) Q FTSE World Series Europe ex UK TR GBP 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. The entry and exit charges shown are maximum figures and in some cases you might pay less. You can find out the actual entry and exit charges from your financial advisor. The ongoing charges figure is based on the last year's expenses for the year ending June 2016 and may vary from year to year. Please see the prospectus for more details about the charges. Past performance is not a guide to future performance and may not be repeated. The value of investments may go down as well as up and you may not get back the amount you originally invested. The chart shows performance in British pound after the ongoing charges and the portfolio transaction costs have been paid. The fund was launched on 2 July Performance achieved during this period was achieved under circumstances that no longer apply. The fund name and charges changed on 24 March Practical Information Depository: J. P. Morgan Europe Ltd. Further Information: You can get further information about this fund, including the prospectus, latest annual report, any subsequent half-yearly reports and the latest price of units from and from Schroders, PO Box 1102, Chelmsford, Essex, CM99 2XX, England, telephone +44 (0) They are in English, free of charge. Tax Legislation: The fund is subject to UK tax legislation which may have an impact on your personal tax position. Liability: Schroder Unit Trusts 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 fund's prospectus. Umbrella Fund: This fund is a sub-fund of an umbrella fund, the name of which is at the top of this document. The prospectus and periodic reports are prepared for the entire umbrella fund. To protect investors, the assets and liabilities of each sub-fund are segregated by law from those of other sub-funds. Switches: Subject to conditions, you may apply to switch your investment into another share class within this fund or in another Schroder fund. Please see the prospectus for more details. Remuneration Policy: A summary of Schroders' remuneration policy and related disclosures is at A paper copy is available free of charge upon request. Glossary: You can find an explanation of some of the terms used in this document at This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). This key investor information is accurate as at 17 February 2017.

37 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. Schroder Income Fund an Authorised Unit Trust of Schroder Unit Trusts Limited Class Z Accumulation GBP (GB00B3PM1190) This fund is managed by Schroder Unit Trusts Limited, which is a member of the Schroders Group. Objectives and Investment Policy Objectives The fund aims to provide income. Investment Policy At least 80% of the fund will be invested in shares of UK companies. The fund aims to provide an income in excess of 110% of the FTSE All Share index yield. The fund invests in 'value' stocks those whose share prices appear low relative to their long-term profit potential, and which are typically paying an attractive and growing dividend. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to reduce risk or manage the fund more effectively. Risk and Reward Profile Lower risk Potentially lower reward Higher risk Potentially higher reward The risk and reward indicator The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund is in this category because it can take higher risks in search of higher rewards and its price may rise and fall accordingly. Benchmark This unit class is managed with reference to the FTSE All Share Total Return financial index. The manager invests on a discretionary basis and is not limited to investing in accordance with the composition of this benchmark. Dealing Frequency You may redeem your investment upon demand. This fund deals daily. Distribution Policy This unit class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the unit class. Risk factors The following risks may affect fund performance. Currency risk: The fund can be exposed to different currencies. Changes in foreign exchange rates could create losses. Equity risk: Equity prices fluctuate daily, based on many factors including general, economic, industry or company news. Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares. Operational risk: Failures at service providers could lead to disruptions of fund operations or losses.

38 Schroder Unit Trusts Limited Schroder Income Fund Charges One-off charges taken before or after you invest Entry charge Exit charge This is the maximum that might be taken out of your money before it is invested. Charges taken from the fund over a year Ongoing Charge 0.91% Charges taken from the fund under certain specific conditions Performance fee Past Performance % Q Z Accumulation GBP (GB00B3PM1190) Q FTSE All Share Total Return 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. The entry and exit charges shown are maximum figures and in some cases you might pay less. You can find out the actual entry and exit charges from your financial advisor. The ongoing charges figure is based on the last year's expenses for the year ending August 2016 and may vary from year to year. When buying back units, the manager may sell them to other investors and retain the difference between the bid and offer price. Please see the prospectus for more details about the charges. Past performance is not a guide to future performance and may not be repeated. The value of investments may go down as well as up and you may not get back the amount you originally invested. The chart shows performance in British pound after the ongoing charges and the portfolio transaction costs have been paid. The fund was launched on 31 May Performance shown during this period predates the launch of this unit class and has been simulated using the history of a similar unit class within the fund. Practical Information Trustee: J. P. Morgan Europe Ltd. Further Information: You can get further information about this fund, including the prospectus, latest annual report, any subsequent half-yearly reports and the latest price of units from and from Schroders, PO Box 1102, Chelmsford, Essex, CM99 2XX, England, telephone They are in English, free of charge. Tax Legislation: The fund is subject to UK tax legislation which may have an impact on your personal tax position. Liability: Schroder Unit Trusts 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 fund's prospectus. Switches: Subject to conditions, you may apply to switch your investment into another unit class within this fund or in another Schroder fund. Please see the prospectus for more details. Remuneration Policy: A summary of Schroders' remuneration policy and related disclosures is at A paper copy is available free of charge upon request. Glossary: You can find an explanation of some of the terms used in this document at This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). This key investor information is accurate as at 17 February 2017.

39 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. Schroder Tokyo Fund an Authorised Unit Trust of Schroder Unit Trusts Limited Class Z Accumulation GBP (GB00B4SZR818) This fund is managed by Schroder Unit Trusts Limited, which is a member of the Schroders Group. Objectives and Investment Policy Objectives The fund aims to provide capital growth. Investment Policy At least 80% of the fund will be invested in shares of Japanese companies. The fund has no bias to any particular industry or size of company. Investment is based on Japan's economic strengths, such as its manufacturing industry (in particular those parts that are demonstrating an ability to exploit newly emerging technology) and on sectors benefiting from structural change in the economy. The fund uses Tokyo-based in-house research to identify and invest in attractively valued companies - those whose share prices appear low relative to long-term profit potential. These opportunities are likely to be found across a broad range of industries and are identified by an intensive programme of inhouse company contact and analysis. Risk and Reward Profile Lower risk Potentially lower reward Higher risk Potentially higher reward The risk and reward indicator The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund is in this category because it can take higher risks in search of higher rewards and its price may rise and fall accordingly. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to reduce risk or manage the fund more effectively. Benchmark This unit class is managed with reference to the Tokyo Stock Exchange 1st Section Index (TOPIX) (TR) GBP financial index. The manager invests on a discretionary basis and is not limited to investing in accordance with the composition of this benchmark. Dealing Frequency You may redeem your investment upon demand. This fund deals daily. Distribution Policy This unit class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the unit class. Risk factors The following risks may affect fund performance. Currency risk: The fund can be exposed to different currencies. Changes in foreign exchange rates could create losses. Equity risk: Equity prices fluctuate daily, based on many factors including general, economic, industry or company news. Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares. Operational risk: Failures at service providers could lead to disruptions of fund operations or losses.

40 Schroder Unit Trusts Limited Schroder Tokyo Fund Charges One-off charges taken before or after you invest Entry charge Exit charge This is the maximum that might be taken out of your money before it is invested. Charges taken from the fund over a year Ongoing Charge 0.91% Charges taken from the fund under certain specific conditions Performance fee 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. The entry and exit charges shown are maximum figures and in some cases you might pay less. You can find out the actual entry and exit charges from your financial advisor. The ongoing charges figure is based on the last year's expenses for the year ending August 2016 and may vary from year to year. When buying back units, the manager may sell them to other investors and retain the difference between the bid and offer price. Please see the prospectus for more details about the charges. Past Performance % Q Z Accumulation GBP (GB00B4SZR818) Q Tokyo Stock Exchange 1st Section Index (TOPIX) (TR) GBP Performance shown during this period predates the launch of this unit class and has been simulated using the history of a similar unit class within the fund. Past performance is not a guide to future performance and may not be repeated. The value of investments may go down as well as up and you may not get back the amount you originally invested. The chart shows performance in British pound after the ongoing charges and the portfolio transaction costs have been paid. The fund was launched on 1 March Practical Information Trustee: J. P. Morgan Europe Ltd. Further Information: You can get further information about this fund, including the prospectus, latest annual report, any subsequent half-yearly reports and the latest price of units from and from Schroders, PO Box 1102, Chelmsford, Essex, CM99 2XX, England, telephone They are in English, free of charge. Tax Legislation: The fund is subject to UK tax legislation which may have an impact on your personal tax position. Liability: Schroder Unit Trusts 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 fund's prospectus. Switches: Subject to conditions, you may apply to switch your investment into another unit class within this fund or in another Schroder fund. Please see the prospectus for more details. Remuneration Policy: A summary of Schroders' remuneration policy and related disclosures is at A paper copy is available free of charge upon request. Glossary: You can find an explanation of some of the terms used in this document at This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). This key investor information is accurate as at 17 February 2017.

41 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. Schroder UK Dynamic Smaller Companies Fund a sub-fund of Schroder Investment Fund Company Class A Accumulation GBP (GB ) This fund is managed by Schroder Unit Trusts Limited, which is a member of the Schroders Group. Objectives and Investment Policy Objectives The fund aims to provide capital growth. Investment Policy At least 80% of the fund will be invested in shares of UK companies that are in the bottom 10% of the UK stock market at the time the fund purchases them. The fund has no bias to any particular industry. The small cap universe is an extensive, diverse and constantly changing area of the UK market. Smaller companies offer investors exposure to some niche growth areas that, often, cannot be accessed through large companies. They also tend to grow more rapidly than larger firms and can go on to become household names. Our investment approach centres on stock selection, which means we focus on each company's ability to create value for shareholders, rather than try to predict what will happen in the wider economic environment. Risk and Reward Profile Lower risk Potentially lower reward Higher risk Potentially higher reward The risk and reward indicator The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund is in this category because it can take higher risks in search of higher rewards and its price may rise and fall accordingly. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to reduce risk or manage the fund more effectively. Benchmark This unit class is managed with reference to the FTSE Small Cap ex IT TR GBP financial index. The manager invests on a discretionary basis and is not limited to investing in accordance with the composition of this benchmark. Dealing Frequency You may redeem your investment upon demand. This fund deals daily. Distribution Policy This share class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the share class. Risk factors The following risks may affect fund performance. Counterparty risk: The counterparty to a derivative or other contractual agreement or synthetic financial product could become unable to honour its commitments to the fund, potentially creating a partial or total loss for the fund. Currency risk: The fund can be exposed to different currencies. Changes in foreign exchange rates could create losses. Equity risk: Equity prices fluctuate daily, based on many factors including general, economic, industry or company news. Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares. Operational risk: Failures at service providers could lead to disruptions of fund operations or losses.

42 Schroder Investment Fund Company Schroder UK Dynamic Smaller Companies Fund Charges One-off charges taken before or after you invest Entry charge Exit charge This is the maximum that might be taken out of your money before it is invested. Charges taken from the fund over a year Ongoing Charge 1.67% Charges taken from the fund under certain specific conditions Performance fee 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. The entry and exit charges shown are maximum figures and in some cases you might pay less. You can find out the actual entry and exit charges from your financial advisor. The ongoing charges figure is based on the last year's expenses for the year ending June 2016 and may vary from year to year. Please see the prospectus for more details about the charges. Past Performance % Q A Accumulation GBP (GB ) Q FTSE Small Cap ex IT TR GBP Performance achieved during this period was achieved under circumstances that no longer apply. The fund name and charges changed on 24 March Past performance is not a guide to future performance and may not be repeated. The value of investments may go down as well as up and you may not get back the amount you originally invested. The chart shows performance in British pound after the ongoing charges and the portfolio transaction costs have been paid. The fund was launched on 2 July Practical Information Depository: J. P. Morgan Europe Ltd. Further Information: You can get further information about this fund, including the prospectus, latest annual report, any subsequent half-yearly reports and the latest price of units from and from Schroders, PO Box 1102, Chelmsford, Essex, CM99 2XX, England, telephone +44 (0) They are in English, free of charge. Tax Legislation: The fund is subject to UK tax legislation which may have an impact on your personal tax position. Liability: Schroder Unit Trusts 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 fund's prospectus. Umbrella Fund: This fund is a sub-fund of an umbrella fund, the name of which is at the top of this document. The prospectus and periodic reports are prepared for the entire umbrella fund. To protect investors, the assets and liabilities of each sub-fund are segregated by law from those of other sub-funds. Switches: Subject to conditions, you may apply to switch your investment into another share class within this fund or in another Schroder fund. Please see the prospectus for more details. Remuneration Policy: A summary of Schroders' remuneration policy and related disclosures is at A paper copy is available free of charge upon request. Glossary: You can find an explanation of some of the terms used in this document at This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). This key investor information is accurate as at 17 February 2017.

43 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. Schroder US Mid Cap Fund an Authorised Unit Trust of Schroder Unit Trusts Limited Class Z Accumulation GBP (GB00B7LDLV43) This fund is managed by Schroder Unit Trusts Limited, which is a member of the Schroders Group. Objectives and Investment Policy Objectives The fund aims to provide capital growth and income. Investment Policy At least 70% of the fund will be invested in shares of medium-sized North American companies. The fund has no bias to any particular industry. The companies will be in the bottom 40% by size of the North American market at the time of purchase. The fund invests in a broad range of medium sized North American companies on the belief that they will offer better growth prospects than their larger peers over the medium to long term. Smaller companies are typically at the early stages of their expansion and under-researched compared to their larger peers. Our investment approach focuses on three types of companies: companies that demonstrate strong growth trends and improving levels of cash; companies which generate dependable earnings and revenues; and companies which are companies that are undergoing positive change that is not being recognised by the market. By doing so, we believe that we can reduce overall risk and improve returns for our investors over the medium to long term. Risk and Reward Profile Lower risk Potentially lower reward Higher risk Potentially higher reward The risk and reward indicator The risk category was calculated using historical performance data and may not be a reliable indicator of the fund's future risk profile. The fund's risk category is not guaranteed to remain fixed and may change over time. A fund in the lowest category does not mean a risk-free investment. The fund is in this category because it can take higher risks in search of higher rewards and its price may rise and fall accordingly. The fund may also invest in other financial instruments and hold cash on deposit. Derivatives may be used to reduce risk or manage the fund more effectively. Benchmark This unit class is managed with reference to the Russell 2500 TR Lagged GBP financial index. The manager invests on a discretionary basis and is not limited to investing in accordance with the composition of this benchmark. Dealing Frequency You may redeem your investment upon demand. This fund deals daily. Distribution Policy This unit class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the unit class. Risk factors The following risks may affect fund performance. Counterparty risk: The counterparty to a derivative or other contractual agreement or synthetic financial product could become unable to honour its commitments to the fund, potentially creating a partial or total loss for the fund. Currency risk: The fund can be exposed to different currencies. Changes in foreign exchange rates could create losses. Equity risk: Equity prices fluctuate daily, based on many factors including general, economic, industry or company news. Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares. Operational risk: Failures at service providers could lead to disruptions of fund operations or losses.

44 Schroder Unit Trusts Limited Schroder US Mid Cap Fund Charges One-off charges taken before or after you invest Entry charge Exit charge This is the maximum that might be taken out of your money before it is invested. Charges taken from the fund over a year Ongoing Charge 0.91% Charges taken from the fund under certain specific conditions Performance fee Past Performance % Q Z Accumulation GBP (GB00B7LDLV43) Q Russell 2500 TR Lagged GBP 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. The entry and exit charges shown are maximum figures and in some cases you might pay less. You can find out the actual entry and exit charges from your financial advisor. The ongoing charges figure is based on the last year's expenses for the year ending July 2016 and may vary from year to year. When buying back units, the manager may sell them to other investors and retain the difference between the bid and offer price. Please see the prospectus for more details about the charges. Past performance is not a guide to future performance and may not be repeated. The value of investments may go down as well as up and you may not get back the amount you originally invested. The chart shows performance in British pound after the ongoing charges and the portfolio transaction costs have been paid. The fund was launched on 1 June Performance shown during this period predates the launch of this unit class and has been simulated using the history of a similar unit class within the fund. Practical Information Trustee: J. P. Morgan Europe Ltd. Further Information: You can get further information about this fund, including the prospectus, latest annual report, any subsequent half-yearly reports and the latest price of units from and from Schroders, PO Box 1102, Chelmsford, Essex, CM99 2XX, England, telephone They are in English, free of charge. Tax Legislation: The fund is subject to UK tax legislation which may have an impact on your personal tax position. Liability: Schroder Unit Trusts 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 fund's prospectus. Switches: Subject to conditions, you may apply to switch your investment into another unit class within this fund or in another Schroder fund. Please see the prospectus for more details. Remuneration Policy: A summary of Schroders' remuneration policy and related disclosures is at A paper copy is available free of charge upon request. Glossary: You can find an explanation of some of the terms used in this document at This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). This key investor information is accurate as at 17 February 2017.

45 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. MI Somerset Emerging Markets Dividend Growth Fund ("the Fund") A Accumulation GBP Shares This is a sub fund of MI Somerset Capital Management Investment Funds ICVC. The Fund is an Open Ended Investment Company. ISIN: GB00B4Q Maitland Institutional Services Ltd is the Authorised Corporate Director of the Fund. Objectives and investment policy The Fund aims to grow your investment and provide income. The Fund will invest in shares of dividend-paying companies established or operating in emerging market countries, which are typically countries that are still developing their economies. The Fund will invest principally in Asia, Eastern Europe, the Middle East, Africa and Latin America. Any income this share class generates will be reinvested to grow the value of your investment. You can buy and sell shares on any business day in London. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within 5 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 The Fund is ranked at 5 because funds of this type have experienced medium to 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: Investing overseas can bring additional returns and spread risk to different markets. There are risks, however, that changes in currency exchange rates may cause the value of your investment to decrease and increase. Emerging markets or less developed countries may face more political, economic or structural challenges than developed countries. This means your money is at greater risk. In difficult market conditions, the value of some investments may be less predictable than normal and the Fund may not be able to buy and sell these investments at the best time or at a fair price. This could affect the Fund s performance, potentially reducing your returns. For further risk information please see the prospectus. Page 1 of 2.

46 Charges 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 1.00% 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. Charges taken from the Fund over a year Ongoing charges 1.26% Charges taken from the Fund under specific conditions Performance fee Past performance % NONE Switching charge (for switching into the Fund from another fund) 1.00%. 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). For the ongoing charge, the figure is as at 30 September Charges are deducted from capital. This may allow more income to be paid but it may also restrict capital growth. No entry charge is currently levied by the ACD, however, an entry charge of up to 5% based on the value of your investment may be applied on the value of the shares purchased, at the discretion of the ACD. No exit charge is currently levied by the ACD, however, an exit charge of 1% based on the value of the shares sold may be applied when selling shares, at the discretion of the ACD. A dilution levy of 0.4% will be charged on entry to or exit from the Fund, this is to cover costs associated with your transaction. For more information about charges, please see the prospectus. You should be aware that past performance is not a guide to future performance. Fund launch date: 29/03/2010. Share/unit class launch date: 29/03/2010. Performance is calculated in GBP Fund Source: FE 2017 Practical information This document is issued by Maitland Institutional Services Ltd and contains information on the A Accumulation GBP Shares only. Each fund of the Company has its own pool of assets and liabilities, segregated by law. If one fund were unable to pay for its liabilities the assets of the other funds could not be used to pay for those liabilities. You can get further detailed information regarding the Fund, including details of the investment manager and how to switch, buy and sell shares and other share classes available, within the prospectus, the supplementary information document and the annual and half yearly managers' reports. You can get these free of charge from Maitland Institutional Services Ltd, Springfield Lodge, Colchester Road, Chelmsford, Essex CM2 5PW or from our website: These are available in English only. You can also call us on , or look on our website for the latest share prices. Details of the Fund s remuneration policy (including a description of how remuneration and benefits are calculated, the composition of the remuneration committee and the identities of persons responsible for awarding remuneration and benefits) are available at www. maitlandgroup.com/fund-data/ or by requesting a paper copy free of charge (see above for contact details). The Depositary of the Fund is The Northern Trust Company. Please note that the tax laws of the United Kingdom may impact your own tax position. Maitland Institutional Services 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 Fund. This Fund is authorised and regulated in the United Kingdom by the Financial Conduct Authority. Maitland Institutional Services Ltd is authorised in the United Kingdom and regulated by the Financial Conduct Authority. INE9 This Key Investor Information is accurate as at 02/02/2017. Page 2 of 2.

47 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. Standard Life Investments Global Absolute Return Strategies Fund, a Sterling denominated unit trust, Platform 1 Accumulation Units (ISIN:GB00B7K3T226). This fund is managed by Standard Life Investments (Mutual Funds) Limited. Objectives and Investment Policy The Standard Life Investments Global Absolute Return Strategies Fund aims to provide positive investment returns in all market conditions over the medium to long term. The fund is actively managed, with a wide investment remit to target a level of return over rolling three-year periods equivalent to cash plus five per-cent a year, gross of fees. It exploits market inefficiencies through active allocation to a diverse range of market positions. The fund uses a combination of traditional assets (such as equities and bonds) and investment strategies based on advanced derivative techniques, resulting in a highly diversified portfolio. The fund can take long and short positions in markets, securities and groups of securities through derivative contracts. Risk and Reward Profile Lower risk Typically lower rewards This indicator reflects the volatility of the fund's share price over the last five years which in turn reflects the volatility of the underlying assets in which the fund invests. Historical data may not be a reliable indication for the future. As the fund does not have a history of five years, a comparable fund or a representative benchmark has been used to show how the fund's share price may have behaved over the period. The current rating is not guaranteed and may change if the volatility of the assets in which the fund invests changes. The lowest rating does not mean risk free. Higher risk Typically higher rewards The fund is rated as {4} because of the extent to which the following risk factors apply: (a) The fund invests in securities which are subject to the risk that the issuer may default on interest or capital payments. (b) The fund price can go up or down daily for a variety of reasons including changes in interest rates, inflation expectations or the perceived credit quality of individual countries or securities. (c) The fund invests in equities and equity related securities. These are sensitive to variations in the stock markets which can be volatile and change substantially in short periods of time. (d) The fund may invest in emerging market equities and / or bonds. Investing in emerging markets involves a greater risk of loss than investing in more developed The fund will use derivatives extensively to reduce risk or cost or to generate additional capital or income at low risk, or to meet its investment objective. Usage of derivatives is monitored to ensure that the fund is not exposed to excessive or unintended risks. Any income, for example dividend income, received by the fund will be reinvested. Investors in the fund may buy and sell shares on any normal business day. Recommendation: the fund may not be appropriate for investors who plan to withdraw their money within five years. Investors should satisfy themselves that their attitude to risk aligns with the risk profile of this fund before investing. markets due to, among other factors, greater political, tax, economic, foreign exchange, liquidity and regulatory risks. (e) Investing in derivatives carries the risk of reduced liquidity, substantial loss and increased volatility in adverse market conditions, such as a failure amongst market participants. The use of derivatives will result in the fund being leveraged (where economic exposure and thus the potential for loss by the fund exceeds the amount it has invested) and in these market conditions the effect of leverage will be to magnify losses. The fund makes extensive use of derivatives. (f) The fund invests in high yielding bonds which carry a greater risk of default than those with lower yields. All investment involves risk. This fund offers no guarantee against loss or that the fund's objective will be attained. Past performance is not a guide to future returns and future returns are not guaranteed. The price of assets and the income from them may go down as well as up and cannot be guaranteed; an investor may receive back less than their original investment. Inflation reduces the buying power of your investment and income. The value of assets held in the fund may rise and fall as a result of exchange rate fluctuations. The fund could lose money if an entity (counterparty) with which it does business becomes unwilling or unable to honour its obligations to the fund. In extreme market conditions some securities may become hard to value or sell at a desired price. This could affect the fund's ability to meet redemptions in a timely manner. The fund could lose money as the result of a failure or delay in operational processes.

48 Charges The charges you pay are used to pay the costs of running the fund including 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% This is the maximum that might be taken out of your money before it is invested/before the proceeds of your investment are paid out. Charges taken from the fund over a year Ongoing charges: 0.88% Charges taken from the fund under certain specific conditions Performance Fees: Past Performance Standard Life Investments Global Absolute Return Strategies Fund, Platform 1 Accumulation Units, 31 December 2016 % Returns The entry and exit charges shown are maximum figures. In some cases you might pay less - you can find this out from your financial adviser. The ongoing charges figure reflects the amount based on expenses for the year ending 31/3/2016. This figure may vary from year to year. It excludes: performance fees (where applicable); portfolio transaction costs, except in the case of an entry/exit charge paid by the fund when buying or selling in another collective investment undertaking. For more information about charges, please see the Prospectus which is available at Performance has been calculated over the stated period based on the unit price of this unit class. It does not take into account any entry, exit or switching charges but does take into account the ongoing charge, as shown in the Charges section. Past performance is not a guide to future performance The fund was launched in The unit class was launched in The performance of the unit class is calculated in Sterling Year Fund Target - 6 month GBP LIBOR +5% Source: Standard Life Investments Practical Information Name of Trustee: Citibank Europe plc, UK Branch, Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB. Further information about the Global Absolute Return Strategies Fund (Prospectus, report & accounts) can be found at where documents may be obtained free of charge. Other practical information (e.g. where to find latest unit prices) can be found in documents held at Details of the up to date remuneration policy which includes a description of how remuneration and benefits are calculated, the identities of the persons responsible for awarding remuneration and benefits and the composition of the remuneration committee, are available at and a paper copy will be available free of charge upon request from Standard Life Investments (Mutual Funds) Limited. Prospective investors should consult their own professional advisers on the potential tax consequences of acquiring, holding or selling units. Standard Life Investments (Mutual 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 Standard Life Investments Global Absolute Return Strategies Fund. Other unit classes may be available in the fund and further information about these can be found in the Prospectus. This document is specific to the fund and unit class stated at the beginning of this document. However, the Prospectus, annual and half-yearly reports are prepared for the entire fund. The Standard Life Investments Global Absolute Return Strategies Fund and Standard Life Investments (Mutual Funds) Limited are authorised in the United Kingdom and regulated by the Financial Conduct Authority. This Key Investor Information is accurate at 16/1/2017 Standard Life Investments Limited is registered in Scotland (SC123321) at 1 George Street Edinburgh EH2 2LL and is authorised and regulated by the Financial Conduct Authority. KIID_U222_32_Acc_N_GBP_GB_EN_

49 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. UK Smaller Companies Fund, a Sterling denominated sub fund of the Standard Life Investment Company, Platform 1 Accumulation Shares (ISIN:GB00B7FBH943). This fund is managed by Standard Life Investments (Mutual Funds) Limited. Objectives and Investment Policy The fund aims to provide long term growth by investing mainly in the shares of smaller companies listed on the UK stock market. The fund is actively managed by our investment team, who will select stocks to try to take advantage of opportunities they have identified. The fund may use derivatives to reduce risk or cost, or to generate additional capital or income at low risk. Usage of derivatives is monitored to ensure that the fund is not exposed to excessive or unintended risks. Risk and Reward Profile Lower risk Typically lower rewards This indicator reflects the volatility of the fund's share price over the last five years which in turn reflects the volatility of the underlying assets in which the fund invests. Historical data may not be a reliable indication for the future. As the fund does not have a history of five years, a comparable fund or a representative benchmark has been used to show how the fund's share price may have behaved over the period. The current rating is not guaranteed and may change if the volatility of the assets in which the fund invests changes. The lowest rating does not mean risk free. Higher risk Typically higher rewards The fund is rated as {5} because of the extent to which the following risk factors apply: (a) The fund invests in equities and equity related securities. These are sensitive to variations in the stock markets which can be volatile and change substantially in short periods of time. (b) The fund's investments are concentrated in the UK. This may result in greater volatility than portfolios which are more geographically diversified. Any income, for example dividend income, received by the fund will be reinvested. Investors in the fund may buy and sell shares on any normal business day. Recommendation: the fund may not be appropriate for investors who plan to withdraw their money within five years. Investors should satisfy themselves that their attitude to risk aligns with the risk profile of this fund before investing. (c) The shares of smaller companies may be less liquid and more volatile than those of larger companies. (d) Investing in derivatives carries the risk of reduced liquidity, substantial loss and increased volatility in adverse market conditions, such as a failure amongst market participants. The use of derivatives may result in the fund being leveraged (where economic exposure and thus the potential for loss by the fund exceeds the amount it has invested) and in these market conditions the effect of leverage will be to magnify losses. The fund does not make extensive use of derivatives. All investment involves risk. This fund offers no guarantee against loss or that the fund's objective will be attained. Past performance is not a guide to future returns and future returns are not guaranteed. The price of assets and the income from them may go down as well as up and cannot be guaranteed; an investor may receive back less than their original investment. Inflation reduces the buying power of your investment and income. The value of assets held in the fund may rise and fall as a result of exchange rate fluctuations. The fund could lose money if an entity (counterparty) with which it does business becomes unwilling or unable to honour its obligations to the fund. In extreme market conditions some securities may become hard to value or sell at a desired price. This could affect the fund's ability to meet redemptions in a timely manner. The fund could lose money as the result of a failure or delay in operational processes.

50 Charges The charges you pay are used to pay the costs of running the fund including 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% This is the maximum that might be taken out of your money before it is invested/before the proceeds of your investment are paid out. Charges taken from the fund over a year Ongoing charges: 0.99% Charges taken from the fund under certain specific conditions Performance Fees: Past Performance UK Smaller Companies Fund, Platform 1 Accumulation Shares, 31 December 2016 % Returns 45 The entry and exit charges shown are maximum figures. In some cases you might pay less - you can find this out from your financial adviser. The ongoing charges figure reflects the amount based on expenses for the year ending 29/2/2016. This figure may vary from year to year. It excludes: performance fees (where applicable); portfolio transaction costs, except in the case of an entry/exit charge paid by the fund when buying or selling in another collective investment undertaking. A switching charge may be applied in accordance with the Prospectus. For more information about charges please see Prospectus. For more information about charges, please see the Prospectus which is available at Performance has been calculated over the stated period based on the share price of this share class. It does not take into account any entry, exit or switching charges but does take into account the ongoing charge, as shown in the Charges section Past performance is not a guide to future performance The fund was launched in The share class was launched in The performance of the share class is calculated in Sterling Year Source: Standard Life Investments Practical Information Name of Depositary: Citibank Europe plc, UK Branch, Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB. Further information about the Standard Life Investment Company (Prospectus, report & accounts) can be found at where documents may be obtained free of charge. Other practical information (e.g. where to find latest share prices) can be found in documents held at Details of the up to date remuneration policy which includes a description of how remuneration and benefits are calculated, the identities of the persons responsible for awarding remuneration and benefits and the composition of the remuneration committee, are available at and a paper copy will be available free of charge upon request from Standard Life Investments (Mutual Funds) Limited. Prospective investors should consult their own professional advisers on the potential tax consequences of acquiring, holding or selling shares. Standard Life Investments (Mutual 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 Standard Life Investment Company. Other share classes are available in the fund and further information about these can be found in the Standard Life Investment Company Prospectus. Standard Life Investment Company is an umbrella structure comprising a number of different sub funds, one of which is this fund. This document is specific to the fund and share class stated at the beginning of this document. However, the Prospectus, annual and half-yearly reports are prepared for the entire umbrella. The assets of a sub fund within the umbrella belong exclusively to that sub fund and shall not be used or made available to discharge (directly or indirectly) the liabilities of, or claims against, any other person or body including Standard Life Investment Company and any other sub fund. Any liability incurred on behalf of or attributable to any sub fund shall be discharged solely out of the assets of that sub fund. Investors may switch their shares in the fund for shares in another sub fund within the Standard Life Investment Company. For further information please refer to the prospectus (section on 'Switching') which can be found at The Standard Life Investment Company and Standard Life Investments (Mutual Funds) Limited are authorised in the United Kingdom and regulated by the Financial Conduct Authority. This Key Investor Information is accurate at 16/1/2017 Standard Life Investments Limited is registered in Scotland (SC123321) at 1 George Street Edinburgh EH2 2LL and is authorised and regulated by the Financial Conduct Authority. KIID_XS_32_Acc_N_GBP_GB_EN_

51 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. Trojan Income Fund, O Accumulation, a fund within Trojan Investment Funds (ISIN: GB00B01BP176) 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 above average income and capital growth in the medium term. Investment Policy The fund invests in the shares of UK and overseas companies and cash. 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. The fund has no specific target market or geographic sector. You can buy and sell shares in the fund on each working day. Risk and reward profile Income from the fund will be added to the value of your investment. Derivatives may be used to manage the risk profile of the fund, reduce costs or generate additional capital or income. Currency hedging arrangements may be used to reduce the risk of currency movements in the value of overseas investments held by the fund. Recommendation: This fund may not be appropriate for investors who plan to withdraw their money within 5 years. The risk and reward profile shown is not guaranteed to remain the same and may shift over time. This indicator shows how much a fund has risen and fallen in the past, and therefore how much a fund's returns 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. Counterparty Risk: As the fund may enter into currency hedging arrangements 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 and the fund receiving less than is due or receiving nothing. 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. 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. Version 15.0

52 Charges 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 Charge 5% This is the maximum that might be taken out of your money before it is invested. Exit Charge Past performance Charges taken from the fund over the year Ongoing Charges 1.02% Charges taken from the fund under certain specific conditions Performance Fee The entry charge shown is a maximum figure. In some cases investors may pay less. You can find out the actual charges from your financial advisor or distributor. The ongoing charges figure is based on expenses as at 31st July This figure may vary from year to year. The ongoing charges are taken mainly 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. You may also be charged a dilution levy on entry to or exit from the fund. For more information about charges, please see the prospectus Sections 3.5 & 7, which may be obtained free of charge from the address in 'Practical Information' below. Past performance is not a guide to future performance. The past performance in the chart shown opposite is net of tax and charges but excludes the entry charge that may be paid on the purchase of an investment. The fund was launched in September Performance is calculated in Pounds Sterling. Practical information Trojan Investment Funds Documents Prices of shares and further information Right to switch Fund Segregation Depositary Tax This key investor information document describes a fund within the Trojan Investment Funds company. The prospectus and periodic reports are prepared for the entire company. Copies of the fund's prospectus and the latest annual and semi annual reports for the fund and Trojan Investment Funds may be obtained from or by writing to Capita Financial Managers Limited, PO Box 389, Darlington, DL1 9UF. These documents are available in English and are free of charge. Details of Capita Financial Managers' Remuneration Code are available on the website This sets out a description of how remuneration and benefits are calculated and the identities of persons responsible for awarding the remuneration and benefits. A paper copy is available free of charge on request. The latest published prices of shares in the fund and other information, including how to buy and sell shares are available from by calling during normal business hours or by writing to Capita Financial Managers Limited, PO Box 389, Darlington, DL1 9UF. Subject to any restrictions on the eligibility of investors for a particular share class, a shareholder in one fund may be able at any time to switch all or some of his shares in one fund for shares in another fund in the company. Please see the prospectus for full details. Trojan Investment Funds is an umbrella fund with segregated liability between funds. This means that the holdings of this fund are maintained separately under UK law from the holdings of other funds of Trojan Investment Funds and your investment in this fund will not be affected by any claims against another fund of Trojan Investment Funds. BNY Mellon Trust & Depositary (UK) Limited UK tax legislation may have an impact on your personal tax position. Liability Version 15.0 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 Trojan Investment Funds. 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 08/02/2017.

53 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 Sterling Accumulation, a fund within CF Woodford Investment Fund (ISIN: GB00BLRZQ737) 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 unlisted companies, overseas entities and derivatives. It is not anticipated that the use of derivatives 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. Income from the fund will be added to the value of your investment. 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 in the shorter term (e.g. less than 3-5 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 5.0