Risk Rated Fund Fact Sheets April 2018

Risk Rated Fund Fact Sheets April 2018

>Awards and Recognition 2017 Internation Fund Awards Best Risked Rated Multi-Manager Fund Manager & Recognised Leaders in FOF - UK Global Fund Awards 2016 Most outstanding Risk Rated Fund of Funds Global Fund Awards 2016 Risk Rated Strategies Management Team of the Year Global Fund Awards 2016 Boutique Investment Manager of the Year UK 2016 International Fund Awards Best for Risk Rated Multi Manager Funds & Best Performing Multi- Asset Risk Fund 2015 International Fund Awards Award for Exceptional Fund Management - The Margetts Risk Rated Funds Investment Week Fund Manager Awards 2014 Winner in the discretionary category Defaqto 4 Diamonds 2013/14 Risk Targeted Multi-Manager Funds Moneywise Pension Awards 2013 Venture Awarded Best Flexible Investment Fund

>Providence Strategy Fund April 2018 Risk Rated Fund The fund is one of four Margetts Risk Rated funds. The Risk Rated funds can be used independently or combined with each other to create an actively managed portfolio with a specific risk profile to meet investors' requirements. The objective of the team is to analyse macro economic data and the investment cycle for opportunities to add value or protect the fund from foreseen dangers to gain relative performance over time. Risk Profile Each fund is managed to its individual risk profile. The fund will have a minimum recommended timescale, which is associated with its level of risk. A financial adviser can help to assess which fund is most appropriate for your needs. Asset Allocation 7% Objective To achieve long term capital with increasing income from distributions. The fund will invest in cash, fixed interest securities, domestic and international equities, with a view to minimising volatility. 2-3 3-4 5-6 7-8 Lower volatility through a diversified portfolio medium to long term Growth from worldwide opportunities adventurous Portfolio Holdings Weighting Asia Pacific 7.5% Legal & General Asian Income Trust 7.5% Bonds 38.9% Royal London Global Index Linked Z 5.7% Vanguard U.K. Short-Term Investmen 7.6% Legal & General Short Dated Sterling 7.3% BlackRock Corporate Bond X Acc 5.7% Royal London Short Duration Credit Z 5.0% AXA Sterling Credit Short Duration Bo 7.6% Cash / Money Markets 4.7% Goldman Sachs Sterling Liquid Reser 3.2% Cash 1.6% UK Equity Income 48.9% Aviva Investors UK Equity Income Fu 7.5% Vanguard FTSE U.K. Equity Income I 7.3% Franklin UK Equity Income Fund W A 7.1% Threadneedle UK Equity Income Fun 7.0% Schroder UK Alpha Income Fund Clas 5.9% Royal London UK Equity Income Fun 7.1% Premier Income Fund Class C Income 7.0% 49% 39% Asia Pacific Bonds Cash / Money Markets UK Equity Income 5% Portfolio data as at 31/03/2018

Performance (%) 35 Margetts Providence Strategy R GBP Acc 30 25 20 IA OE Mixed Investment 20-60% Shares Key Facts Valuation point Deals can be placed between Launch date Fund size Ex-dividend dates Payment dates 08:30 09:30-17:00 27/01/1995 171m 31 Dec / 30 Jun 28 Feb / 31 Aug 15 10 5 Performance is based on Margetts Providence Strategy R GBP Acc. The performance for other share classes may differ due to the difference in charges. 0-5 31/03/2013 31/03/2014 31/03/2015 31/03/2016 31/03/2017 31/03/2018 Providence IA OE Mixed Investment 20-60% Shares 1 Year -1.18 Cumulative Performance 3 Years 8.46 5 Years 23.5 10 Years 0.83 11.19 25.01 58.61 Discrete Performance YTD 2017 2016 2015 2014 68.58-4.49 6.49 8.98 1.62 3.95 2013 12.71 Source: Morningstar Direct as at 31/03/2018. Performance is bid to bid with income reinvested. Past performance is no guarantee of future performance and investors may get back less than the original amount invested. Share Class Information Name ISIN Minimum Investment Lump Sum Regular Initial Charge AMC Ongoing Charges (Inc. Margetts Providence Strategy Fund Acc GB0007938490 1,000.00 100.00 5% 1.475 2.08% 2.73% Margetts Providence Strategy Fund Inc GB0007938276 1,000.00 100.00 5% 1.475 2.08% 2.73% Margetts Providence Strategy Fund R Acc GB00B4VR6328 1,000.00 100.00 0% 0.695 1.3% 2.72% Margetts Providence Strategy Fund R Inc GB00B7TRY424 1,000.00 100.00 0% 0.695 1.3% 2.72% Yield

>Select Strategy Fund Risk Rated Fund The fund is one of four Margetts Risk Rated funds. The Risk Rated funds can be used independently or combined with each other to create an actively managed portfolio with a specific risk profile to meet investors' requirements. The objective of the team is to analyse macro economic data and the investment cycle for opportunities to add value or protect the fund from foreseen dangers to gain relative performance over time. Risk Profile Each fund is managed to its individual risk profile. The fund will have a minimum recommended timescale, which is associated with its level of risk. A financial adviser can help to assess which fund is most appropriate for your needs. Asset Allocation 20% 12% 12% 20% 7% 7% 20% 2% Objective The fund aims to achieve medium to long term capital on a medium risk basis. The fund will adopt a cautious but active management approach via a diverse spread of mainly UK and European equity, fixed interest, money market collective investments and cash. The fund will include collective investment schemes investing in various world markets. 2-3 3-4 5-6 7-8 Lower volatility through a diversified portfolio medium to long term Asia Pacific Bonds Cash / Money Markets Emerging Markets Europe UK UK Equity Income USA Growth from worldwide opportunities adventurous Portfolio Holdings April 2018 Weighting Asia Pacific 12.3% Schroder Asian Income L GBP Accum 6.0% BlackRock Asia Z Acc GBP 6.2% Bonds 19.6% Royal London Short Duration Global I 6.5% Legal & General Short Dated Sterling 6.3% Kames Investment Grade Bond B Acc 6.8% Cash / Money Markets 2.0% Cash 2.0% Emerging Markets 6.7% Henderson Emerging Markets Opport 6.7% Europe 6.9% F&C European Growth & Income 2 Ac 3.5% Invesco Perpetual European Equity In 3.5% UK 20.6% Jupiter UK Special Situations I Acc 7.0% ishares UK Equity Index Fund (UK) D 6.7% SVM UK Growth Institutional 7.0% UK Equity Income 20.5% BlackRock UK Income Fund Class X 6.8% Rathbone Income Fund Institutional A 6.9% Majedie UK Income Class X Accumul 6.9% USA 11.5% Fidelity Index US Fund P Accumulatio 5.9% Vanguard US Equity Index Acc 5.7% Portfolio data as at 31/03/2018

Performance (%) Key Facts 50 40 30 Margetts Select Strategy R GBP Acc IA OE Mixed Investment 40-85% Shares Valuation point Deals can be placed between Launch date Fund size Ex-dividend dates Payment dates 08:30 09:30-17:00 20/03/1995 147m 31 Dec / 30 Jun 28 Feb / 31 Aug 20 Performance is based on Margetts Select Strategy R GBP Acc. 10 The performance for other share classes may differ due to the difference in charges. 0-10 31/03/2013 31/03/2014 31/03/2015 31/03/2016 31/03/2017 31/03/2018 Select IA OE Mixed Investment 40-85% Shares 1 Year 0.04 Cumulative Performance 3 Years 14.91 5 Years 36.29 10 Years 1.63 15.95 35.5 75.58 Discrete Performance YTD 2017 2016 2015 2014 86.46-5.24 10.68 12.15 3.45 5.41 2013 15.95 Source: Morningstar Direct as at 31/03/2018. Performance is bid to bid with income reinvested. Past performance is no guarantee of future performance and investors may get back less than the original amount invested. Share Class Information Name ISIN Minimum Investment Lump Sum Regular Initial Charge AMC Ongoing Charges (Inc. Margetts Select Strategy Fund Acc GB0006584097 1,000.00 100.00 5% 1.475 2.16% 0.6% Margetts Select Strategy Fund R Acc GB00B8K0B575 1,000.00 100.00 0% 0.695 1.38% 1.34% Yield

>International Strategy Fund Risk Rated Fund The fund is one of four Margetts Risk Rated funds. The Risk Rated funds can be used independently or combined with each other to create an actively managed portfolio with a specific risk profile to meet investors' requirements. The objective of the team is to analyse macro economic data and the investment cycle for opportunities to add value or protect the fund from foreseen dangers to gain relative performance over time. Risk Profile Each fund is managed to its individual risk profile. The fund will have a minimum recommended timescale, which is associated with its level of risk. A financial adviser can help to assess which fund is most appropriate for your needs. Asset Allocation 33% 16% 7% 14% 3% 17% 10% Objective Long term from capital appreciation and re-invested income. The investment emphasis will be on global equities and may include relatively high weightings in overseas markets. A degree of volatility should be expected in the short/medium term. 2-3 3-4 5-6 7-8 Lower volatility through a diversified portfolio medium to long term Asia Pacific Cash / Money Markets Emerging Markets Europe Japan UK USA Growth from worldwide opportunities adventurous Portfolio Holdings April 2018 Weighting Asia Pacific 13.6% Baillie Gifford Pacific B Acc 6.7% Legal & General Asian Income Trust 6.9% Cash / Money Markets 2.8% Cash 2.8% Emerging Markets 10.3% Standard Life Investments Global Em 5.3% Threadneedle Global Emerging Mark 5.0% Europe 16.8% HSBC European Index Fund Accumul 5.6% JPM Europe Dynamic Fund (ex-uk) C 5.6% BlackRock Continental European Fun 5.6% Japan 6.9% Schroder Tokyo Fund L GBP Hedged 3.5% Schroder Tokyo Fund L GBP Accumul 3.4% UK 16.0% JPM UK Dynamic Fund C - Net Accu 5.6% Vanguard FTSE U.K. All Share Index 6.0% Threadneedle UK Growth & Income F 4.3% USA 33.7% JPM US Select C - Net Accumulation 8.4% Vanguard US Equity Index Acc 8.5% ishares North American Equity Index 8.2% Fidelity Index US Fund P Accumulatio 8.6% Portfolio data as at 31/03/2018

Performance (%) Key Facts 80 70 60 50 Margetts Intl Strategy R GBP Acc IA OE Global Valuation point Deals can be placed between Launch date Fund size Ex-dividend dates Payment dates 08:30 09:30-17:00 26/06/1992 108m 31 Dec / 30 Jun 28 Feb / 31 Aug 40 30 Performance is based on Margetts Intl Strategy R GBP Acc. 20 10 The performance for other share classes may differ due to the difference in charges. 0-10 31/03/2013 31/03/2014 31/03/2015 31/03/2016 31/03/2017 31/03/2018 International IA OE Global 1 Year 1.95 Cumulative Performance 3 Years 26.23 5 Years 53.72 10 Years 2.87 28.4 57.96 112.08 Discrete Performance YTD 2017 2016 2015 2014 116.63-5.87 13.94 22.59 3.50 7.69 2013 17.69 Source: Morningstar Direct as at 31/03/2018. Performance is bid to bid with income reinvested. Past performance is no guarantee of future performance and investors may get back less than the original amount invested. Share Class Information Name ISIN Minimum Investment Lump Sum Regular Initial Charge AMC Ongoing Charges (Inc. Margetts International Strategy Fund Acc GB0007021685 1,000.00 100.00 5% 1.475 2.09% 0% Margetts International Strategy Fund R Acc GB00B8FN1Z15 1,000.00 100.00 0% 0.695 1.31% 0.68% Yield

>Venture Strategy Fund Risk Rated Fund The fund is one of four Margetts Risk Rated funds. The Risk Rated funds can be used independently or combined with each other to create an actively managed portfolio with a specific risk profile to meet investors' requirements. The objective of the team is to analyse macro economic data and the investment cycle for opportunities to add value or protect the fund from foreseen dangers to gain relative performance over time. Risk Profile Each fund is managed to its individual risk profile. The fund will have a minimum recommended timescale, which is associated with its level of risk. A financial adviser can help to assess which fund is most appropriate for your needs. Asset Allocation 5% 7% 9% 6% 36% 28% 5% 4% Objective Long term through a diversified portfolio of predominantly international equities. A high degree of volatility over the short term is possible. 2-3 3-4 5-6 7-8 Lower volatility through a diversified portfolio medium to long term Asia Pacific Cash / Money Markets Emerging Markets Europe Other Specialist UK USA Growth from worldwide opportunities adventurous Portfolio Holdings April 2018 Weighting Asia Pacific 28.5% Schroder Asian Income L GBP Accum 7.2% Fidelity Institutional South East Asia A 7.1% Schroder Institutional Pacific I Acc 7.2% Invesco Perpetual Asian No Trail Acc 7.0% Cash / Money Markets 4.0% Cash 4.0% Emerging Markets 34.8% JPM Emerging Markets Income Fund 6.0% Invesco Perpetual Global Emerging M 5.6% Henderson Emerging Markets Opport 5.7% Threadneedle Global Emerging Mark 5.8% Fidelity Emerging Markets Fund W Ac 5.8% Fidelity Index Emerging Markets P Ac 5.9% Europe 5.4% F&C European Growth & Income 2 Ac 5.4% Other 5.4% M&G Global Dividend Fund Sterling I 5.4% Specialist 7.1% Stewart Investors Asia Pacific Leader 7.1% UK 8.9% Vanguard FTSE U.K. All Share Index 8.9% USA 5.9% Vanguard US Equity Index Acc 5.9% Portfolio data as at 31/03/2018

Performance (%) 60 Margetts Venture Strategy Fd R GBP Acc 50 40 30 IA OE Flexible Investment Key Facts Valuation point Deals can be placed between Launch date Fund size Ex-dividend dates Payment dates 08:30 09:30-17:00 01/02/1995 85m 31 Dec / 30 Jun 28 Feb / 31 Aug 20 10 0 Performance is based on Margetts Venture Strategy Fd R GBP Acc. The performance for other share classes may differ due to the difference in charges. -10-20 31/03/2013 31/03/2014 31/03/2015 31/03/2016 31/03/2017 31/03/2018 Venture IA OE Flexible Investment 1 Year 2.88 Cumulative Performance 3 Years 26.68 5 Years 41.6 10 Years 2.33 17.03 36.3 74.33 Discrete Performance YTD 2017 2016 2015 2014 118.05-5.25 17.73 24.69-2.20 7.64 2013 5.95 Source: Morningstar Direct as at 31/03/2018. Performance is bid to bid with income reinvested. Past performance is no guarantee of future performance and investors may get back less than the original amount invested. Share Class Information Name ISIN Minimum Investment Lump Sum Regular Initial Charge AMC Ongoing Charges (Inc. Margetts Venture Strategy Fund Acc GB0007938383 1,000.00 100.00 5% 1.475 2.32% 0.1% Margetts Venture Strategy Fund R Acc GB00B6VBDR16 1,000.00 100.00 0% 0.695 1.54% 0.83% Yield

Important Information Margetts Fund Management Ltd is authorised and regulated by the Financial Conduct Authority. Past Performance is no guarantee of future performance. The value of an investment and the income from it can fall as well as rise and investors may get back less than they invested. Quoted yields are based on the previous 12 months distributions to investors and are not guaranteed. Future distributions may differ and will be subject to market factors. Risk factors should be taken into account and understood including (but not limited to) currency movements, market risk, liquidity risk, concentration risk, lack of certainty risk, inflation risk, performance risk, local market risk and credit risk. The information on this factsheet is intended to provide information only and should not be interpreted as advice. Margetts recommend that investors seek professional advice before making any investment to ensure that the product is suitable and can achieve their objectives. Investors should ensure that they have read and understood the Non UCITS Retail Scheme Key Investor Information Document (NURS-KII) and Supplementary Information Document (SID), which contain important information. A copy of these documents is available on the website or on request from Margetts Fund Management. Contact details are provided below. Margetts does not warrant that information will be error-free. Award Winners for Investment Performance www.margetts.com Margetts Fund Management Ltd 1 Sovereign Court Graham Street Birmingham B1 3JR Registered in England No. 4158249 Authorised and Regulated by the Financial Conduct Authority