Fund Switch Recommendation Mr & Mrs J Desch 29 June 2015 Argentum Wealth Limited is not authorised and regulated by the Financial Conduct Authority. This report has been prepared in confidence, based upon the value of your investments at the date shown above. This report may contain references to past performance; it should be noted that past performance is not a guide to future performance as investments can fall in value as well as rise. Any projections of future values, or income that could be generated by the investments, is also not guaranteed.
Investment Fund Switch Recommendation Following our review of the investment funds within your portfolio on 29 th June 2015, we are recommending the changes detailed in this report. Scope of Our Recommendations As this recommendation concerns replacing an existing fund with an alternative from the same IMA sector we will not be altering your asset allocation or risk profile. This report assumes that your risk profile and investment objectives remain unchanged from your last review. Should there be any significant changes to your objectives or attitude to risk, including changes in income and expenditure, please contact us at your earliest convenience as this may materially affect our advice. Switch Out Recommendation We recommend that you switch out of the following fund(s): Switch Out Fund Name Sector Current Value Fund Management TER Amount to be Switched Aberdeen Emerging Markets Equity I Acc Emerging Markets 10,873 1.20% 100% Notes: Where you hold more than one share class of each investment fund, we will switch out of each one in its entirety. Valuations are subject to change on a daily basis and cannot be guaranteed. The value will fluctuate and may go up as well as down. Rationale for Switching Out We do not like this fund anymore Switch In Recommendation Of the other investment funds available in this sector, we recommend the following : Fund Name Henderson Emerging Markets Opportunities A Acc Buy Sector IA Global Emerging Markets Fund Management TER Amount to be Switched 1.80% 100% Rationale for Switching In We do like this fund The data within this report has been supplied by third parties. Care has been taken to ensure that the information is correct but Argentum Wealth neither warrants, represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.
Validity Period The recommendations in this report remain valid until 31 st July 2015. We would politely request that you either accept or decline the recommended changes set out in this report. In the event that you are unable to respond to us within these timescales, we will seek to contact you via email. We will also add these changes to our Annual Review meeting with you, which will provide us with a final opportunity to re-consider these recommendations, and your views on whether you wish to accept the changes. Summary of Recommendation: We recommended the above funds for the following reasons: The fund selected will continue to reflect your attitude towards investment risk. It will provide the potential for capital growth as per your investment objectives. There will be no switching charge incurred. The recommended fund has provided superior returns during our latest assessment process. When undertaking an internal fund switch you should be aware that: Past performance is only a guide and is not a guarantee of future performance. There is no guarantee that the newly recommended funds will perform better than the existing funds. Full details of the new fund are described on the fact sheets attached below. The data within this report has been supplied by third parties. Care has been taken to ensure that the information is correct but Argentum Wealth neither warrants, represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein.
Henderson Emerging Markets Opportunities A Acc Summary Factsheet 29 June 2015 Quick Stats Citi Code NW87 FE Crown Rating Price Date 29/06/2015 ISIN Code GB0031861015 Mstar Analyst Rating Neutral Mid Price 148.90p (-1.60p) SEDOL Code 3186101 Dividends Per Annum 2 Bid Price Sector Global Emerging Markets FE Risk Score Offer Price Benchmark MSCI Emerging Market Yield 0.70% Pricing Frequency Daily Domicile United Kingdom Type Accumulation Launch Date 27/02/1987 Legal Structure OEIC Factsheet Frequency 12 per year ISA Available, Eligible Fund Size 142.4M as at 26/06/2015 Fund Currency GBX (Pence) Manager Name Glen Finegan Fund Objective The fund aims to provide long-term capital growth by investing in company shares in emerging market countries. The fund may invest indirectly in emerging market countries by buying securities such as American depositary receipts (ADRs). Purchase & Other Information Min. Investment 1000 Min. Top-up 100 Standard Initial Charge 5.00% Clean Share Class AMC 1.50% OCF 1.76% as at 31/05/2015 Compliant UCITS IV Compliant Dividend Date Jun 01, Dec 01 For Sale In United Kingdom Performance Chart in (GBX) 25.00 Cumulative Performance (GBX) 20.00 Period Fund Sector Rank in Sectors 15.00 6 Months 0.20% 1.97% 62 / 82 Percentage Change (%) 10.00 5.00 0.00-5.00-10.00 Jul 10 Dec May 11 Oct Mar 12 Aug Jan 13 Jun Nov Apr 14 Sep Feb 15 Key A - Henderson Emerging Markets Opportunities A Acc TR [8.57%] B - IA Global Emerging Markets TR [10.85%] B A 1 Year 3.86% 2.67% 34 / 81 3 Years 14.05% 13.70% 33 / 67 5 Years 6.63% 8.80% 27 / 48 Discrete Annual Performance to Last Quarter End (GBX) Period Fund Sector Rank in Sectors 0 to 12 m 14.17% 12.33% 28 / 79 24m to 36m 7.52% 8.21% 35 / 65 48m to 60m 10.32% 9.29% 15 / 45 29/06/2010-26/06/2015 Powered by data from FE Top 5 Holdings as at 31/05/2015 Top 5 Sectors as at 31/05/2015 1 SABMILLER 3.30 2 INVERSIONES AGUAS METROPOLITANAS 3.20 3 COMPANIA CERVECERIAS UNIDAS SA 3.00 4 GRUPO HERDEZ SAB DE CV 3.00 5 UNILEVER 3.00 1 CONSUMER PRODUCTS 40.20 2 TELECOM, MEDIA & TECHNOLOGY 16.90 3 FINANCIALS 15.90 4 UTILITIES 8.90 5 INDUSTRIALS 8.20 Top 5 Regions as at 31/05/2015 Top 5 Asset Classes as at 31/05/2015 1 PACIFIC BASIN 24.20 2 AMERICAS 23.10 3 INTERNATIONAL 16.10 4 ASIA PACIFIC 13.90 5 UK 10.10 1 ASIA PACIFIC EMERGING EQUITIES 38.10 2 AMERICAN EMERGING EQUITIES 23.10 3 INTERNATIONAL EQUITIES 16.10 4 UK EQUITIES 10.10 5 GLOBAL EMERGING MARKET EQUITIES 9.20 Data provided by FE. Care has been taken to ensure that the information is correct but it neither warrants, represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Financial Express Limited Registration number: 2405213. Registered office: 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Telephone 01483 783 900 Website:www.financialexpress.net
Henderson KEY INVESTOR INFORMATION This document provides you with Key Investor Information about this Fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this Fund. You are advised to read it so you can make an informed decision about whether to invest. EMERGING MARKETS OPPORTUNITIES FUND Class A Acc ISIN: GB0031861015 A sub-fund of Henderson Investment Funds Series I, an OEIC managed by Henderson Investment Funds Limited. Objectives and investment policy Objective A long-term return (meaning growth of your investment plus income received) that is above the average return expected from an investment in emerging market shares. Investment policy Under normal circumstances, the Fund invests mainly in: Shares of companies in emerging markets in any industry The Fund may also invest in: Any other type of security that is consistent with its objective Collective Investment Schemes Money market instruments Bank deposits In choosing investments, the investment manager looks for shares of companies that appear to have greater potential to rise in price over the long term based on analysis of changes in the business environment. The Fund may use derivatives to reduce risk or to manage the Fund more efficiently. Designed for Investors who understand the Fund s risks, want an emerging markets investment, and intend to invest their money for at least seven years. This Fund is designed to be used only as one component in several in a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested into this Fund. Fund currency GBP Share class currency GBP Terms to understand Collective Investment Schemes Funds that invest in shares and other securities from the UK and elsewhere. Emerging Market Countries classified as developing by the World Bank. These include various nations in Africa, Asia, South America, and Eastern Europe. Derivatives Financial instruments whose value is linked to the price of an underlying asset (eg indices, rates, share prices). Money market instruments A short term debt instrument, issued by a government or company as a way to raise money. Generally considered a cash equivalent. Shares Securities that represent fractional ownership in a company. Volatility How sharply the Fund s share price has gone up and down over a period, generally several years. You can buy, sell or switch shares in the Fund on any business day, as defined within the Definitions Section of the Fund s prospectus. The Fund offers accumulation shares (shares in which net income is retained within the price). Risk and reward profile Typically Lower potential risk/reward Lower Risk Typically Higher potential risk/reward 1 2 3 4 5 6 7 Higher Risk The value of an investment in the Fund can go up or down. When you sell your shares they may be worth less than you paid for them. The risk/reward rating above is based on medium-term volatility. In the future, the Fund s actual volatility could be higher or lower and its rated risk/reward level could change. The lowest category does not mean risk free. The Fund s risk level reflects the following: As a category shares are, in general, more volatile than either bonds or money market instruments The Fund focuses on countries that have less developed markets Fluctuations in exchange rates may cause the value of your investment to rise or fall The rating does not reflect the possible effects of unusual market conditions or large unpredictable events. Under normal market conditions the following risks may apply: Counterparty risk The Fund could lose money if a counterparty with which it transacts becomes unwilling or unable to meet its obligations to the Fund. Derivatives risk 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 instrument. Liquidity risk Certain securities could become hard to value or sell at a desired time and price. Management risk Investment management techniques that have worked well in normal market conditions could prove ineffective or detrimental at other times. The full list of the Fund s risks are contained in the Risk Factors section of the Fund s prospectus. 1of2
Charges Past performance The charges you pay are used to pay the costs of running the Fund, including the costs of managing and distributing it. These charges reduce the potential growth of your investment. If you invest through a third party provider you are advised to consult them directly as charges, performance and terms and conditions may differ materially to those shown in this document. 50% 48.5 42.8 25% 20.4 47.2 23.8 One-off charges taken before or after you invest* Entry Charge 5.00% Exit Charge 0.00%** * The charges shown are maximum figures. In some cases you may pay less. ** Subject to a charge of up to 3.00% where the Manager suspects excessive trading by an investor (and specifically on subscriptions held for less than 90 days). Performance (%) 0% -25% -42.2-50% -22.4 12.8-3.6 3.9 Charges taken from the Fund over a year Ongoing Charges 1.78% The ongoing charges are based on last year s expenses for the year ending 31 May 2014. Ongoing charges may vary from year to year. The figure for ongoing charges excludes portfolio transaction costs, except in the case of an initial charge paid by the Fund when buying shares or units in another fund. For more information about charges, please see the Charges section of the Fund s prospectus. 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Year The Fund Warning: 14 July 2010. The Fund changed its name and objective. The past performance shown before this change was therefore achieved under circumstances that no longer apply. The past performance is calculated in GBP. The Fund and the share class were launched in February 1987. Past performance is not a guide to future performance. The past performance shown in the chart takes into account all charges except entry charges. Practical information Depositary: National Westminster Bank Plc To obtain more information: This Key Investor Information Document may not contain all the information you need. For the last published price of shares in the Fund, or to obtain the annual/semi-annual report, please visit www.henderson.com. Documents are available free of charge in English. For a free copy of the Fund s prospectus please contact the registered office of the Fund at 201 Bishopsgate, London EC2M 3AE, UK. Tax: Investors should note that the tax legislation that applies to the Fund may have an impact on the personal tax position of their investment in the Fund. Contact your adviser to discuss tax treatment, suitability of this investment, and other questions. Notices: Henderson Investment Funds Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the Fund. The assets of each sub-fund are segregated, meaning that each sub-fund is insulated from any losses or claims associated with the other sub-funds. To place transaction orders: You can place orders to buy, sell or switch shares of this Fund by contacting your adviser or distributor, or us directly at Henderson Global Investors, PO BOX 9023, Chelmsford CM99 2WB or by calling our Investor Services team on 0800 832 832. Further information about dealing, other share classes of this Fund or other funds in this OEIC may be obtained by visiting www.henderson.com or found in the Fund s prospectus. The Fund is authorised in the UK and regulated by the Financial Conduct Authority ( FCA ). Henderson Investment Funds Limited is authorised in the UK and regulated by the FCA. This Key Investor Information is accurate as at 11 February 2015. 2of2