schroder income fund · 1102, chelmsford, essex, cm99 2xx, england, telephone 0800 718 777. they...

Key Investor Information

This document provides you with key investor information about this fund. It is not marketing material. The information isrequired by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you canmake an informed decision about whether to invest.

Schroder Income Fundan Authorised Unit Trust of Schroder Unit Trusts LimitedClass L Accumulation GBP (GB00BDD2DW68)This fund is managed by Schroder Unit Trusts Limited, which is a member of the Schroders Group.

Objectives and Investment PolicyObjectivesThe fund aims to provide income and capital growth by investing inequities of UK companies.

Investment PolicyThe fund invests at least 80% of its assets in a concentrated rangeof equities of UK companies. These are companies that areincorporated, headquartered or have their principal businessactivities in the UK. The fund typically holds 30 to 50 companies.

The fund focuses on companies that have certain "Value" char-acteristics. Value is assessed by looking at indicators such as cashflows, dividends and earnings to identify securities which theinvestment manager believes have been undervalued by themarket.

The fund may also invest in other equities, collective investmentschemes, fixed income securities, warrants, and hold cash.

The fund may use derivatives with the aim of reducing risk ormanaging the fund more efficiently.

BenchmarkThis unit class is managed with reference to the FTSE All ShareTotal Return financial index. The manager invests on a discre-tionary basis and is not limited to investing in accordance with thecomposition of this benchmark.

Dealing FrequencyYou may redeem your investment upon demand. This fund dealsdaily.

Distribution PolicyThis unit class accumulates income received from the fund'sinvestments, meaning it is kept in the fund and its value is reflectedin the price of the unit class.

Risk and Reward ProfileLower riskPotentially lower reward

Higher riskPotentially higher reward

1 2 3 4 5 6 7

The risk and reward indicatorThe risk category was calculated using historical performance dataand 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 maychange over time.

A fund in the lowest category does not mean a risk-free invest-ment.

The fund is in this category because it can take higher risks insearch of higher rewards and its price may rise and fall accordingly.

Risk factorsThe following risks may affect fund performance.

Concentration risk: The fund may be concentrated in a limitednumber of geographical regions, industry sectors, markets and/or

individual positions. This may result in large changes in the value ofthe fund, both up or down, which may adversely impact theperformance of the fund.

Counterparty risk: The counterparty to a derivative or othercontractual agreement or synthetic financial product couldbecome unable to honour its commitments to the fund, potentiallycreating 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, andmay create losses greater than the cost of the derivative.

Equity risk: Equity prices fluctuate daily, based on many factorsincluding general, economic, industry or company news.

Liquidity risk: In difficult market conditions, the fund may not beable to sell a security for full value or at all. This could affectperformance and could cause the fund to defer or suspendredemptions of its shares.

Operational risk: Failures at service providers could lead to disrup-tions of fund operations or losses.

ChargesOne-off charges taken before or after you invest

Entry charge None

Exit charge None

This is the maximum that might be taken out of your money before it isinvested.

Charges taken from the fund over a year

Ongoing Charge 0.83%

Charges taken from the fund under certain specific conditions

Performance fee None

The charges you pay are used to pay the costs of running the fund,including the costs of marketing and distributing it. These chargesreduce the potential growth of your investment.

The entry and exit charges shown are maximum figures and insome cases you might pay less. You can find out the actual entryand exit charges from your financial advisor.

The ongoing charges figure is based on the last year's expenses forthe year ending December 2017 and may vary from year to year.

Please see the prospectus for more details about the charges.

Past Performance

%Q L Accumulation GBP (GB00BDD2DW68)Q FTSE All Share Total Return

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

-23.3 35.9 8.2 -8.3 25.3 32.6 5.0 -6.6 25.4 9.4

-29.9 30.1 14.5 -3.5 12.3 20.8 1.2 1.0 16.8 13.1

1

1 Performance shown during this period predates the launch of this unit class and hasbeen simulated using the history of a similar unit class within the fund.

Past performance is not a guide to futureperformance and may not be repeated. Thevalue of investments may go down as well asup and you may not get back the amount youoriginally invested.

The chart shows performance in British poundafter the ongoing charges and the portfoliotransaction costs have been paid.

The fund was launched on 31 May 1987.

Practical InformationTrustee: J. P. Morgan Europe Ltd.

Further Information: You can get further information about thisfund, including the prospectus, latest annual report, any subse-quent half-yearly reports and the latest price of units fromwww.schroders.com/ukinvestor and from Schroders, PO Box1102, Chelmsford, Essex, CM99 2XX, England, telephone 0800718 777. They are in English, free of charge.

Tax Legislation: The fund is subject to UK tax legislation whichmay have an impact on your personal tax position.

Liability: Schroder Unit Trusts Ltd may be held liable solely on thebasis of any statement contained in this document that is

misleading, inaccurate or inconsistent with the relevant parts of thefund's prospectus.

Switches: Subject to conditions, you may apply to switch yourinvestment into another unit class within this fund or in anotherSchroder fund. Please see the prospectus for more details.

Remuneration Policy: A summary of Schroders' remunerationpolicy and related disclosures is atwww.schroders.com/remuneration-disclosures. A paper copy isavailable free of charge upon request.

Glossary: You can find an explanation of some of the terms used inthis document at www.schroders.com/ukinvestor/glossary.

-40

-20

0

20

40

Schroder Unit Trusts Limited Schroder Income Fund

This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). This key investor information isaccurate as at 17 September 2018.

Key Investor InformationThis document provides you with key investor information about this Fund. It is not marketing material. The information is requiredby 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 aninformed decision about whether to invest.

FP Foresight UK Infrastructure Income Fund, a sub-fund of FP Foresight OEIC

Class A Accumulation Shares (ISIN GB00BF0VS922)

The Fund is managed by FundRock Partners Limited

Objective and investment policy

Objective:The investment objective of the Fund is to generate income and preserve capital with potential for capital growth. Policy: The Fund will invest primarily in GBP denominated, LSE-listed closed-ended investment trusts, REITs and ETFs which are invested in UK companies and assets domiciled, incorporated or which have a significant proportion of their business in the UK. The Fund may also invest in collective investment schemes, equities, other transferable securities, bonds, money market instruments, deposits, cash and near cash. The Fund will comprise of a range of infrastructure investments with a focus on the stability and security of quarterly distributions. The Fund will be actively managed with a view to maximising income over the long term. The portfolio will be constructed to achieve diversification across a broad range of UK infrastructure sectors but in certain circumstances may also have up to 20% global exposure. On giving 60 days' notice to shareholders, the Fund may, in addition to its other investment powers, use derivatives and forward transaction for investment purposes and borrowing under the terms of the Regulations. Use of derivatives may change the risk profile of the relevant Fund. The Fund will be managed in a manner that maintains eligibility for ISAs.

Other Information: • You can buy and sell shares between 9am and 5pm on most business days when the London Stock Exchange is open for a full range of services. • The Fund’s base currency is Pounds Sterling. • We carry out investors’ requests, to buy, sell or switch, at midday on each business day (which excludes UK public holidays). If we receive a request after midday, we deal with it on the next business day. • As you hold accumulation shares, income from investments in the Fund will be rolled up into the value of your shares. • Investment in the Fund should be regarded as long-term, which is upwards of 3 to 5 years. This Fund may not be appropriate for investors who plan to withdraw their money within 5 years. • There can be no guarantee that the objective of the Fund will be achieved. • On encashment, particularly in the short-term, you may receive less than the original amount invested. • Charges applicable to the Fund accrue daily, therefore an equivalent rise in the value of shares is required before the original investment can be recovered.

Risk and reward profile

◄ Lower Risk Higher Risk ►Typically lower rewards Typically higher rewards

1 2 3 4 5 6 7

• This indicator above is not a measure of the risk of capital loss, but an estimated measure of the Fund's price movement over time. It is based on historical data, and thus may not be a reliable indication of the future risk profile of the Fund. • The risk category shown is not guaranteed to remain unchanged and may shift over time. • The lowest category does not mean ‘risk free’. • The Fund appears as a “4” on the scale. This is because it invests in the infrastructure industry and the Fund's simulated and/or realised return has experiences high rises and falls historically. • The risk indicator is not related to the risk scale number of the Fund. The indicator does not take into account the following risks of investing in the Fund: • The Fund relies on other parties to fulfil certain services, investments or transactions. If these parties become insolvent and fail to meet their obligations, it may expose the Fund to financial loss.

• Infrastructure companies may be subject to a variety of factors that may adversely affect their business or operations, including high interest costs in connection with capital construction programmes, high leverage, costs associated with environmental and other regulations, the effects of economic slowdown, surplus capacity, increased competition from other providers of services, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies and other factors. • Changes in exchange rates may mean the value of your investment goes up and down. • Certain securities could become hard to value, sell at a desired time and place, or cease to trade altogether. • The Fund's portfolio will be focused on equities and collective investment schemes within the UK Infrastructure Sector. Whilst increasing the potential reward, the nature of a more focused portfolio can increase risk. As such, the returns may be more volatile and will be impacted more by fluctuations in the value of underlying stocks in the UK Infrastructure Sector. For full details of the Fund’s risks please see Section 5 of the Fund’s Prospectus, which is available from the ACD, FundRock Partners Limited, 8/9 Lovat Lane, London EC3R 8DW or, during normal business hours on 01202 855856 (or +44 1202 855856 if calling from outside the UK).

Charges for this FundThe charges you pay are used to pay the costs of running the Fund,including the costs of marketing and distributing it. These chargesreduce the potential growth of your investment.One-off charges taken before or after you invest.

Class A AccEntry charge 4.00%Exit charge 0.00%This is the maximum that might be taken out of your money before it isinvested (Entry charge) or before the proceeds of your investment arepaid out (Exit charge).Charges taken from the fund over a year

Ongoing charge 0.65%

Charges taken from the fund under certain specific conditionsPerformance fee - N/A -

The entry and exit charges shown are maximum figures. In some cases(including when switching to other funds) you might pay less – you canfind out actual entry and exit charges from your financial adviser.The ongoing charges figure is based on an estimate of the expenses at launch. Ongoing charges may vary from year to year. The ongoing charges figure includes any portfolio transaction costs which the Fund pays to its service providers (e.g. to the Fund’s custodian) and any entry/exit charges the Fund pays when buying/selling units in another fund. In general, however, the figure excludes other portfolio transaction costs. For more information about charges please see Section 7 of the Fund’s Prospectus, which is available from the ACD at FundRock Partners Limited, 8/9 Lovat Lane, London EC3R 8DW or, during normal business hours on 01202 855856. For more details please see the Supplementary Information Document (SID) which is available at www.FundRock.com or on the above number.

Past performanceFor the purposes of the specific rules governing thisdocument, we must have data for at least onecomplete calendar year (31 December to 31December) in order to provide a past performancechart.As the Fund only launched on 4 December 2017, there is insufficient data to provide a useful indication of past performance for the purpose of these rules. Such information will be added as it becomes available.

Practical information

Depositary: Societe Generale S.A, London Branch.Documents and remuneration policy: Paper copies of the Fund'sProspectus, the Articles of Association, the Key Investor InformationDocuments, the latest annual and semi-annual reports for the Fund andan up-to-date version of the ACD’s remuneration policy, including, butnot limited to: (i) a description of how remuneration and benefits arecalculated; and (ii) the identities of persons responsible for awardingthe remuneration and benefits including the composition of theremuneration committee, may be obtained free of charge from the ACDat FundRock Partners Limited, 8/9 Lovat Lane, London EC3R 8DW orduring normal business hours on 01202 855856 (or +44 1202 855856if calling from outside the UK). The report, accounts and up-to-dateremuneration policy can also be obtained from the ACD’s website atwww.FundRock.com. These documents are available in English.Liability statement: FundRock Partners Limited may be held liablesolely on the basis of any statement contained in this document that ismisleading, inaccurate or inconsistent with the relevant parts of theProspectus for the Fund. FP Foresight OEIC is an open-endedinvestment company with variable capital, structured as an umbrellaCompany with one sub-fund. The Company is incorporated with limitedliability and registered in England and Wales under number IC001100and is authorised and regulated by the Financial Conduct Authority.

Prices of shares and further information: The last published pricesof shares in the Fund are available at www.fundlistings.com, or bycalling 01202 855856.The SID, which contains other details on the Fund including how to buy or sell shares, is available from www.FundRock.com or, during normal business hours, from the ACD on 01202 855856 (+44 1202 855856 if calling from outside the UK). The Fund is part of FP Foresight OEIC.Tax : UK tax legislation may have an impact on your personal taxposition. Under current UK revenue law and practice, UK residentshareholders may be subject to income tax for income distributionsreceived or capital gains tax on disposal of their shares. Shareholdersare advised to consult their professional advisers as to their tax position.Further information on the subject of tax is available in the Prospectus.

This Fund is authorised in the UK and regulated by the Financial Conduct Authority (“FCA”). The ACD/Manager is authorised and regulated in the UK by the FCA .

This key investor information is accurate as at 24 July 2018.


Objectives and investment policy

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.

1

Typically lower rewards,lower risk

Typically higher rewards,higher risk

CFP SDL UK Buffettology Fund - Institutional Income A sub-fund of the Castlefield Funds Institutional Income Shares, ISIN GB00BKJ9C676 Authorised Corporate Director - Castlefield Fund Partners Limited

The Fund may also invest in derivatives and forward transactions (for hedging purposes). The Fund may borrow and enter into stocklending and underwriting transactions in accordance with COLL.

The investment objective of the Fund is to seek to achieve an annual compounding rate of return over the long term which is superior to the performance of the UK stock market. The Fund will invest principally within a portfolio of UK equities, and may also invest in other transferable securities, money market instruments, units and/or Shares in other collective investment schemes, deposits, warrants, cash and near cash. The Investment Adviser will adopt a focussed approach to investing in shares of those companies which it believe have strong operating franchises and experienced management teams and whose shares are undervalued and offer the potential for improved economic growth.

The Fund holds equities concentrated by number and by location in the UK. Equities, as an asset class, tend to experience higher volatility than many other assets such as bonds or money market instruments. Funds concentrated by number of assets and/or geographic location are more vulnerable to market sentiment impacting on one or more of those assets or location and can carry a higher risk than funds holding more diversified assets. 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. Terms Explained: 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 closed-ended investment companies. 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.

1 2 3 5 6 74

The Fund is ranked as a 4 because it has experienced relatively high rises and falls in value over the past five years. Please note that even the lowest ranking does not mean a risk-free investment. As there is less than five years of available data for this Fund, for illustrative purposes a similar type of investment has been used to calculate the risk/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 coloured area in the table below shows the Fund’s ranking on the Risk and Reward Indicator.


Past performance

2

Charges

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

0.00%

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 04/09/2018.

1.23%

None

You should be aware that past performance is not a guide to future performance. Fund launch date: 28/03/2011. Share/unit class launch date: 18/03/2014. Performance is calculated in GBP. Performance is net of tax and charges.

The Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority. Castlefield Fund Partners Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority. This Key Investor Information is accurate as at 04/09/2018.

BuffIKIID/04092018

Source: FE 2018

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 the Castlefield Funds), please visit www.castlefield.com. Call us on 0161 233 4890 or write to us at Castlefield Fund Partners Limited, 8th Floor, 111 Piccadilly, Manchester M1 2HY. 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 0161 233 4890 or see the Prospectus on the website. The Fund’s Depositary is Société Générale London Branch. UK tax legislation may have an impact on your personal tax position. Castlefield Fund Partners 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 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 Institutional Income Shares have been used as representative. Information about other share classes available can be found in the Prospectus.

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.

Legal & General UK Property Feeder Fund (the "Fund") Class I Accumulation ISIN: GB00BK35F408 The authorised fund manager of the Fund is Legal & General (Unit Trust Managers) Limited.

OBJECTIVE AND INVESTMENT POLICY

Objective The objective of this Fund is to provide a combination of income and growth by investing solely in the Legal & General UK Property Fund (the ‘Master Fund’). It may also hold cash where necessary to enable the making of payments to unitholders or creditors. Investment policy:

The Fund aims to achieve investment returns very similar to those of the Master Fund.

The Master Fund will typically invest at least 80% of the Master Fund’s assets in a range of UK property assets. It may hold as little as 60% in commercial property where the Fund manager deems it to be in the best interests of the Master Fund and its shareholders.

The Master Fund may invest in all types of commercial property. The Master Fund may occasionally invest in residential property and may also develop properties. The Master Fund may also invest from time to time in commercial properties in the Isle of Man and the Channel Islands.

The Master Fund may use derivatives (contracts which have a value linked to the price of another asset) to: • reduce risk or cost; or • generate additional capital or income with no, or an acceptably low, level of risk.

The Master Fund may also invest in other property-related assets, (including property-related UK shares and UK property-related authorised investment funds), money market instruments, deposits, money market-related authorised investment funds and government bonds.

Other information:

If you hold accumulation units in the Legal & General UK Property Feeder Fund, income from investments held by the Fund (dividends) will be reinvested into the value of your units.

You can buy or sell units in this Fund on any business day. You need to contact us with your instruction before 12 noon. This is the time we calculate unit prices for this Fund. If you contact us after 12 noon, the units will be bought or sold at the next business day's price.

The Fund's base currency is denominated in sterling (British pounds). The Master fund incurs transaction costs relating to buying and selling

properties and other assets which are likely to impact returns from your investment. These costs are paid from the Master Fund's assets and are in addition to the entry or ongoing fund charges shown overleaf.

This Fund is designed for investors looking for growth and income from an investment in balanced portfolio of predominantly UK Commercial Property.

Although investors can take their money out at any time, this Fund may not be appropriate for those who plan to withdraw their money within five years.

This Fund is not designed for investors who cannot afford more than a minimal loss of their investment.

If you do not understand this document we recommend you seek additional information to help you decide if this Fund is right for you.

RISK AND REWARD PROFILE

The value of your investment may fall as well as rise and is not guaranteed. You might get back less than you invest.

The following are additional risks that apply to the Master Fund and can impact the Legal & General UK Property Feeder Fund:

The Fund manager runs a fund to meet its objective and you should expect a fund's investments to change over time. The Fund's level of risk may also change in the future.

At times it may be difficult for the Master Fund to make investments or sell assets to meet investors’ requests to buy/sell units. Where this occurs the Fund may experience reduced investment performance for a period or have difficulty paying proceeds to investors who wish to sell units.

Property can be difficult to buy or sell. This could mean: • cash builds up waiting to be invested, so the Fund will underperform when property returns are greater than the interest earned; and/or • property may have to be sold for less than expected.

If an exceptional amount of withdrawals are requested, the Fund manager may be forced to sell properties quickly. This could mean that properties are sold for less than expected which would reduce the value of your investment.

In times of market uncertainty or if an exceptional amount of withdrawals are requested it may become less easy for your Fund to sell its holdings in other funds and the Manager may defer withdrawals, or suspend dealing. The Manager can only delay paying out if it is in the interests of all investors and with the permission of the Fund trustee or depositary.

Rental growth is not guaranteed and unpaid rent could affect the performance of your investment.

The value of property is generally a matter of valuer’s opinion rather than fact and the true value of a property may not be recognised until the property is sold. In certain circumstances we may not be able to obtain a valuer's opinion and will apply our own valuation.

The Master Fund will undertake development of properties where the full benefits of any increases in the value of the property or the income earned from it are not received until completion. While any development is taking place, the Fund is at risk from delays, increased costs or not achieving the predicted improvement in increasing the value of the property or rent received.

The Master Fund could lose money if any institutions providing services such as acting as counterparty to derivatives or other instruments, becomes unwilling or unable to meet its obligations to the Fund.

Derivatives are highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains.

This Fund is authorised in the United Kingdom by the Financial Conduct Authority. Legal & General (Unit Trust Managers) Limited is authorised and regulated by the United Kingdom Financial Conduct Authority. This key investor information is accurate as at 03 August 2018.

CHARGES FOR THIS FUND

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 return from 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.

* The Fund also incurs transaction costs. See opposite.


Ongoing charges 0.75%



There are no entry or exit charges for this Fund.

The ongoing charges figure is based on the latest available expenses at August 2018. This figure may change in the future.

The Fund's annual report for each financial year will include detail on the exact charges made.

This Fund's ongoing charges include the ongoing charges of the Master Fund. They exclude portfolio transaction costs.

The ongoing charges are taken from the income of the Fund. Other costs:

Transaction costs: each day there are two prices for this Fund: a higher price you pay to buy units and a lower price you receive when you sell units. The Fund manager calculates these prices. The difference between these prices is called the 'spread'. The spread is separate to the ongoing charges shown in this section. This Fund's spread reflects the transaction costs of buying and selling commercial property, and other assets, incurred by the Master Fund. The spread can change at any time and by any amount. As an example, the buying price for units in this Fund was 5.44% higher than the selling price at 31 December 2017. Please note that the spread will be incurred on transfers between this Fund and the Master Fund, except on certain dates.

For more information about charges and transaction costs, please see the charges and expenses section in the Fund's Prospectus, or visit our website at legalandgeneral.com/chargesandfees.

Property expense ratio: the Master Fund has other costs in addition to its ongoing charges and transaction costs which will impact your investment. They include costs such as maintenance and repair fees, property management fees, letting costs and legal fees related to running properties. Full details are in the Master Fund’s Prospectus. These additional costs are represented by the property expense ratio (PER). For I class the PER is 0.24% (at May 2018).

PAST PERFORMANCE

Past performance is not a guide to future performance. The figures for the Fund take into account the ongoing charges and

assume income (after any tax) is reinvested. The figures do not take account of any bid-offer spread or dilution levy or any transaction costs.

The performance has been calculated in Sterling (British Pounds). The annual return is for a 12 month period ending 31 December. The Fund launched in 2014. This unit class launched in 2014. This UK Property Feeder Fund launched in 2014, but we have

shown continuous performance back to 2007 as explained below. The Fund invests solely in the Master Fund. On 24 May 2014 the Legal & General UK Property Trust merged into the newly created Master Fund. We believe it is fair and relevant to show you the available past performance of the I class of the Legal & General UK Property Trust before this date. Performance after this date is that of the I class of the UK Property Feeder Fund.

PRACTICAL INFORMATION

The trustee and depositary is Northern Trust Global Services Limited.

This Fund: You can obtain further information about the Fund including copies of its prospectus, application forms and the latest annual and semi-annual reports at www.legalandgeneral.com/reports.

A Guide to Investing with Us at www.legalandgeneral.com/guide gives further information about investing generally, including pricing.

Master Fund: Copies of the Master Fund Prospectus, Key Investor Information documents and periodic reports and accounts are available at www.legalandgeneral.com/reports.

Paper copies of these documents are also available from: Legal & General Investments, PO Box 6080, Wolverhampton WV1 9RB. We provide documents free of charge and in English.

Investors can get other practical information, including the latest buying and selling prices, spreads and details of any other unit classes that are available, by calling us on 0370 050 0955 Monday to Friday between 8.30am and 6.00pm. Call charges will vary.

UK tax legislation may have an impact on each investor's personal tax position.

You can find details of our Remuneration Policy at www.lgim.com/remuneration. You can also request a paper copy free of charge. The Policy includes details of our Remuneration Committee and how remuneration and benefits are calculated.

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Fund -17.6 5.8 10.4 3.3 2.2 7.9 13.5 10.6 1.9 8.8

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-5

0

5

10

15

20

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turn

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00326 03 CF 0218

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.

Objective and Investment Policy

CFFT is the feeder fund to the Commercial Freehold Fund (the “Master Fund”), a property authorised investment fund (PAIF). The objective of the Master Fund is to provide a secure and stable investment return primarily through acquiring commercial freehold ground rents and commercial freehold property which benefit from long leases. It is intended that the assets targeted for acquisition by the Master Fund will offer a consistent income stream with capital growth prospects. The Master Fund’s aim is to provide investors with an income return of 4% per annum and some capital growth in the long term.The Master Fund may also invest in collective investment schemes, cash and similar cash-like investments, as well as money market instruments and property-related shares (whether or not listed on a stock exchange)Derivatives may be used in the Master Fund for investment purposes or efficient portfolio management.

CFFT’s Objective and Investment PolicyThe objective of CFFT is to provide income and capital growth over the longer term in accordance with the Master Fund. All or substantially all of CFFT will be invested in the shares of the Master Fund (a sub-fund of ARC TIME:Funds) and any left over will be held as cash for liquidity purposes.

Other informationWe carry out investor’s requests to buy, sell, switch, convert or exchange units at midday on dealing days, each Wednesday (or where this is not a business day, the next business day) and the last business day of the month (if this is not a Wednesday).

If we receive a request to buy units after 10am on the business day 2 days prior to each dealing day or to sell units after 10am on the business day 4 days prior to each dealing day, we will deal with it on the next dealing day. If you hold income units, income from investments in CFFT is paid out to you twice a year, in May and November;If you hold accumulation units, income from investments in CFFT will be rolled up into the value of your units;Recommendation: CFFT may not be appropriate for investors who plan to withdraw their money over a short period.

Terms used

“ collective investment schemes”

schemes where investors’ money is pooled to buy investments

“derivatives” contracts whose value is linked to the future price movements of an asset

“ commercial freehold ground rents”

benefit from long dated (typically over 60 years) leases. The rents are paid by a tenant to a freeholder for the use of a property asset for the agreed term.

“ commercial freehold property which benefit from long leases”

freehold property typically let to commercial tenants at market rent for periods of 20 years to 35 years

“ money market instruments”

a type of investment where cash can be deposited for short periods


The following risks apply to investments in CFFT:• The value of units can go down as well as up and is not guaranteed.

You may not get back the full amount invested.• At times it may be difficult for the Master Fund to make investments/

sell assets to meet investors’ requests to buy/sell units. Where this occurs CFFT may experience reduced investment performance for a period or have difficulty paying proceeds to investors who wish to sell units.

• The majority of the Master Fund’s investments are commercial freehold ground rents and commercial freehold property which benefit from long leases. Valuations are a matter of an independent valuer’s opinion. There is no certainty that the valuation opinions will reflect the sale price of the property and any differences could affect the value of your investment in CFFT.

• By the nature of direct property and the time and other factors involved in arranging sales and realising the proceeds there from, it should be appreciated that the underlying assets are primarily relatively illiquid assets when compared with other asset classes such as listed equities or bonds. Whilst the Authorised Fund Manager will pursue a cautious liquidity policy, CFFT is intended for investors who can accept the risks associated with making potentially illiquid investments in direct property.

• Dealing in the Master Fund as well as CFFT could be suspended for a period which means you may not be able to buy or sell units for several months or longer.

For full details of the CFFT’s risks please see Section 28 of the prospectus of ARC TIME:Feeder Trusts, which is available from Alpha Real Capital LLP at 338 Euston Road, London, NW1 3BG.

COMMERCIAL FREEHOLD FEEDER TRUST, A SUB-FUND OF ARC TIME:FEEDER TRUSTS

Class I Net Accumulation ISIN GB00BLRZQ174 SEDOL BLRZQ17

Class J Net Income ISIN GB00BLRZQ281 SEDOL BLRZQ28

Class K Net Accumulation ISIN GB00BWZMMF32 SEDOL BWZMMF3

Class L Net Income ISIN GB00BWZMMD18 SEDOL BWZMMD1

Commercial Freehold Feeder Trust (“CFFT”) is managed by Alpha Real Capital LLP as Authorised Fund Manager (“AFM”).

00326 03 CF 0218

NON-UCITS RETAIL SCHEME KEY INVESTOR INFORMATION

Charges

The charges you pay are used to pay the costs of running CFFT. However, all charges for the CFFT are generally paid by the authorised trust manager to ensure parity of pricing to the Master Fund. Any charges reduce the potential growth of your investment.


Class I Net Acc

Class J Net Inc

Class K net Acc

Class L Net Inc

Entry charge 3% 3% 5% 5%

Exit charge None

This is the maximum that might be taken out of your money before it is invested (Entry charge) or before the proceeds of your investment are paid out (Exit charge).

Charges taken from CFFT over a year

Ongoing Charge 1.29% 1.29% 1.54% 1.54%

Charges taken from CFFT under certain specific conditions

Performance Fee None

The entry and exit charges shown are maximum figures. In some cases you might pay less. You can find out actual entry and exit charges from your financial adviser, distributor or by contacting the AFM.The ongoing charges figure represents the combined costs of CFFT and the Master Fund and is based on the expenses for the year ending 31 December 2017. This figure may vary from year to year. The annual report for each financial year will include details of the charges made.The figure for ongoing charges may not include all professional fees and generally excludes portfolio transaction costs and rental collection charges. However, such costs may be included where CFFT pays them to one of its service providers, or to the Master Fund as an entry/exit charge for buying/selling shares.For more information about charges please see Section 33 of the prospectus of ARC TIME:Feeder Trusts, which is available from the Authorised Fund Manager at Alpha Real Capital LLP, 338 Euston Road, London, NW1 3BG.

Past performance

RATE

(%)

1.1%1.7%

8.8%

4.4% 4.2% 4.3% 4.2%

0

2

4

6

8

10

12

2017201620152014

Classes I and JClasses K and L

20172016 CFFT was launched on 9 June 2014. The chart shows the past performance since launch for Class I Net Accumulation, Class J Net Income, Class K Net Accumulation and Class L Net Income (assuming income was reinvested) and takes into account all charges except entry and exit charges. As the unit classes K and L were launched in August 2015, performance is only shown for 2015 (5 months), 2016 and 2017. The performance for 2015 includes the uplift in the share prices following the introduction of the dilution adjustment in August 2015. The chart and table show performance on a calendar year basis.Past performance is calculated in pounds sterling. Past performance is not a reliable indictor of future performance.


DepositaryCFFT’s trustee is National Westminster Bank Plc.

DocumentsCopies of the prospectus and the latest annual and half-yearly reports for CFFT and the Master Fund are available from Alpha Real Capital LLP at 338 Euston Road, London, NW1 3BG or, during normal business hours. Please call client services on 0845 600 1213. These documents are available in English and free of charge.

Prices of shares and further information: The last published prices of units in CFFT are available at time-investments.com/cff. CFFT is a sub-trust of ARC TIME:Feeder Trusts. There may be other sub-trusts in ARC TIME:Feeder Trusts from time to time and you will be able to switch between them. An entry charge may apply. Details on switching are provided in CFFT’s prospectus in Section 15.The assets of CFFT belong exclusively to it and will not be available to meet the liabilities of any other sub-trust of ARC TIME:Feeder Trusts that may launch after the date of this document.

TaxUK tax legislation may have an impact on your personal tax position. Please note CFFT is subject to withholding tax from the Master Fund.

This Fund is authorised in the UK and regulated by the Financial Conduct Authority. Alpha Real Capital LLP is authorised and regulated in the UK by the Financial Conduct Authority.

This non-UCITS retail scheme key investor information is accurate as at 1 January 2018.

Objective: The fund aims to achieve long-term capital growth. Policy:

• The fund will principally invest in the shares of smaller companies (companies that have a market value of less than US$10 billion) listed, quoted or traded in the United States of America.

• The fund can also invest in the shares of smaller companies which have headquarters in the USA or carry out a significant part of their activities in the USA and are quoted on a regulated market outside the USA.

• The fund has discretion in its choice of investments, and is not restricted by the industry it trades in.

• The fund may invest in derivatives (financial instruments whose value is linked to the expected price movements of an underlying asset) to meet its investment objective, to protect the value of the fund, reduce costs and/or generate additional income.

• The fund may invest in fixed interest securities which are investments (which could be issued by a company, a government or another entity) that pay a fixed level of income or interest.

Typically lower rewards Typically higher rewards

Lower risk Higher risk

1 2 3 4 5 6 7

• The fund is in the risk category shown due to its historic volatility (how much and how quickly the value of shares in the fund have risen and fallen in the past). It may not be a reliable indication of the future risk profile of the fund.

• The risk category shown is not guaranteed and may change over time.

• A risk indicator of “1” does not mean that the investment is “risk free”.

The risk indicator may not fully take into account the following risks:

• The price of shares, and the income from them, can fall and rise because of stockmarket and currency movements.

• Stockmarket prices, currencies and interest rates can move irrationally and can be affected unpredictably by diverse factors, including political and economic events.

• A portion of the fund’s assets may be invested in a currency other than the fund’s accounting currency

(sterling). The value of these assets, and the income from them, may decrease if the currency falls in relation to sterling, in which the fund is valued and priced.

• Investing in small and medium-sized companies can involve more risk than investing in larger, more established companies. Shares in smaller companies are often not as easy to sell as shares in larger companies are. This can cause difficulty in buying, valuing and selling those shares. Also, reliable information for deciding their value or the risks may not be available.



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 risks of investing in the fund. You are advised to read it so you can make an informed decision about whether to invest.

Artemis US Smaller Companies Fund (the "fund")

Class I accumulation shares, GBP [ISIN: GB00BMMV5766]

A sub-fund of Artemis Investment Funds ICVC. The fund is managed by Artemis Fund Managers Limited.

Other information:

• Investment in the fund should be regarded as a medium to long-term investment.

• Class I shares are only available to investors at Artemis Fund Managers Limited’s discretion.

• You can buy and sell shares Monday to Friday, except on UK public holidays, each week.

• Transactions are processed at 12 noon UK time and we will include your instruction to buy or sell shares if it is received before that point.

• Any income this fund receives is reinvested into the fund and automatically reflected in the value of shares.

For further explanation of some of the terms used above, please visit our website artemisfunds.com/glossary to view a glossary of terms.

• The charges you pay are used to pay the costs of running the fund, including the costs of marketing and distributing it. The charges reduce the potential growth of your investment.


Entry charge None

Exit charge None






Past performance

Charges for the fund


• The ongoing charges figure is based on the expenses for

the year ending December 2017.

• Ongoing charges may vary from year to year and reduce

the potential growth of your investment. The figure for

ongoing charges excludes costs associated with buying

and selling securities in the fund’s underlying portfolio (for

example, brokers’ commission and transaction taxes),

except in the case of an entry/exit charge paid by the fund

when buying or selling shares or units in another

collective investment undertaking.

• The annual management charge is taken from income.

For more information about charges, please see section 7 of

the fund’s prospectus, which is available at

artemisfunds.com.

• Past performance in the chart shown includes all charges except entry charges for the period when these were applicable.

• How the fund has performed in the past is not a guide to how it will perform in the future.

• Performance is calculated in sterling.

• This fund was launched on 27 October 2014.

• This class was launched on 27 October 2014.

• The Depository of the fund is J.P. Morgan Europe Limited.

• This document describes the relevant share class. Further information, which will relate to the complete fund, can be obtained from the fund’s prospectus and the latest annual and half-yearly reports. The documents are in English and available free of charge. These can be found, along with other information such as the price of the fund’s shares, at artemisfunds.com or by phoning 0800 092 2051 (from UK) or +441268 445 401.

• The assets of each sub-fund belong exclusively to it and are not available to meet the liabilities of any other sub- fund or Artemis Investment Funds ICVC.

• Information about Artemis’ remuneration policy is available at artemisfunds.com; a paper copy is available free of charge on request.

• UK tax legislation that applies to the fund may have an impact on your personal tax position.

• Artemis Fund 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 the fund.

• You can switch your investments between funds or types of shares or units in the Artemis range. For further information, please refer to the prospectus, artemisfunds.com or phone 0800 092 2051 (from UK) or +441268 445 401.

• The fund is authorised in the UK and regulated by the Financial Conduct Authority.

• Artemis Fund Managers Limited is authorised in the UK and regulated by the Financial Conduct Authority.

• This key investor information is accurate as at 6 June 2018.

There is insufficient data to produce a useful indication of

past performance for the share class

10.7%

39.1%

11.6%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

2013 2014 2015 2016 2017

/2

First State Asia Focus Fund (Fund)

Class B (Accumulation) GBP (Share Class)

ISIN GB00BWNGXJ86

a sub-fund of First State Investments ICVC (the Company)

First State investments (UK) Limited, the authorised corporate director of the Company


Objective: The Fund aims to grow your investment.

Policy: The Fund invests at least 80% in shares of companies based in, operating in, or have their economic activity mainly in the Asia Pacific region including Australia and New Zealand (excluding Japan). The Fund may also invest up to 20% in shares of companies around the world.

The Fund invests in shares of large and mid-sized companies in the region. These companies generally have a total stock market value of at least US$1 billion.

The Fund may invest up to 10% in other funds.

The Fund may use derivatives to reduce risk or to manage the Fund more efficiently.

You can buy and sell shares in the Fund on any business day. As long as we receive your instruction before 12 noon (UK time), shares will be bought at that day's price.

The Fund's manager may use its discretion when deciding which investments should be held by the Fund.

You will not receive any income from your investment. Any income will be rolled up into the value of shares in the Fund.

In addition to the charges set out in the charges section, the Fund will incur portfolio transaction costs which are paid from the assets of the Fund.

Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within five years.


Lower Risk Higher Risk

Potentially Lower Rewards Potentially Higher Rewards

1 2 3 4 5 6 7

The synthetic risk reward indicator (the SRRI) rating is not a measure of the risk of you losing your investment but describes how much the value of the Share Class has gone up and down in the past. Where a Share Class has not yet launched, the SRRI is calculated using representative data.

The SRRI rating is based on historical data which may not be a reliable indication of the future risks and rewards of the Share Class.

We cannot guarantee that the rating of the Share Class will remain the same; it may change over time.

Even the lowest rating 1 does not mean a risk free investment.

On a scale of 1 (less risky) to 7 (more risky), this Share Class has a rating of 5 due to its past performance (or representative data) and the nature of its investments. Shares with a rating of 5 might have higher risks, but also higher returns.

Risk is taken in order to make a higher potential return; the more risk a fund takes, the higher the potential return but the greater the risk of loss.

The value of the Fund and its return is not guaranteed and may fall as well as rise. You may get back significantly less than you originally

invested.

Material risks not adequately captured by the SRRI:

Emerging market risk: emerging markets may not provide the same level of investor protection as a developed market; they may involve a higher risk than investing in developed markets.

Currency risk: the Fund invests in assets which are denominated in other currencies; changes in exchange rates will affect the value of the Fund.

For further information on risks, please refer to the Risk Factors section in the Company's prospectus.

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.

This Fund is authorised in the UK and regulated by the Financial Conduct Authority. First State Investments (UK) Limited is authorised and regulated in the UK by the Financial Conduct Authority. This key investor information is accurate as at 12 June 2018.

Page 2/2

Charges for this Fund

The charges 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 the maximum you will need to pay. In some cases you might pay less - you can find out the actual entry and exit charges from your financial adviser.

The ongoing charge is based on expenses for the year ending July 2016. It may vary from year to year. It excludes portfolio transaction costs and performance fees, if any.

There are fees for switching between sub-funds. The fee for switching into the Fund is 0.5%.

Further information can be found in the Buying, Selling and Switching Shares section of the Company's prospectus.


Entry charge 4.00%

Exit charge N/A





Performance fee N/A

Past performance

Past performance is not a reliable guide to future performance. The past performance shown here includes fees, any reinvested income and tax.

The Fund launched on 24 August 2015.

The Share Class launched on 24 August 2015. The past performance of the Share Class is calculated in GBP.


Depositary: The Bank of New York Mellon (International) Limited

Further information: The prospectus, annual and semi-annual reports of the Company are available free of charge on www.firststateinvestments.com or by contacting First State Investments, 23 St. Andrew Square, Edinburgh, EH2 1BB. All documents are available in English, German and Swiss German. You can also obtain any of these documents from the representative or paying agent in your country.

Other practical information: The Fund's share price and other information about the Fund is available at www.firststateinvestments.com. The prospectus, annual and semi-annual reports contain information about all of the sub-funds and share classes of the Company. Please note that not all sub-funds and share classes may be registered for distribution in your jurisdiction.

Tax legislation: The Fund is subject to UK tax laws. This may have an impact on your personal tax position. For further details, please speak to your tax adviser.

Liability statement: The Company 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.

Fund information: Each sub-fund of the Company is responsible for meeting its own debts. The sub-funds are segregated by law. This means that investments of the Fund can not be used to pay the debts of the other sub-funds.

You can exchange shares in the Fund for shares in another sub-fund, which is called switching. There may be a charge for switching, as indicated above in 'Charges'.

Remuneration: Information on the current remuneration policy of First State Investments (UK) Limited, including a description of how remuneration and benefits are calculated and the identity of persons responsible for awarding the remuneration and benefits, is available at www.firststateinvestments.com. A paper copy of this information is available free of charge upon request from First State Investments, 23 St Andrew Square, Edinburgh, EH2 1BB.

24.7% 26.3%

0%

5%

10%

15%

20%

25%

30%

2013 2014 2015 2016 2017

Key Investor InformationThis 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 thisfund. You are advised to read it so you can make an informed decision about whether to invest.

Man GLG Continental European Growth FundProfessional Accumulation Shares (Class C)(ISIN:GB00B0119487) Man GLG Continental European Growth Fund (the 'Fund') is a sub-fund of Man International ICVC (the 'Company').

Man Fund Management UK Limited, part of Man Group plc, is the Authorised Corporate Director.

Objectives and investment policy1 The Fund seeks above average long term capital growth through

investing, directly or indirectly, primarily in quoted securities comprised ofequities and equity linked securities (securities whose returns aredetermined by the performance of the underlying equities) of companieslisted on European Stock Exchanges.

1 The Fund may invest in money market securities, fixed and floating rategovernment and corporate bonds, bonds convertible into common stock,preferred shares and other fixed income investments. The Fund may alterthe investment exposure created by these securities through the use ofcurrency transactions.

1 Fixed income investments may be issued by any government, companyor international agency.

1 The Fund may use financial derivative instruments (instruments whoseprices are dependent on one or more underlying asset 'FDI') extensivelyfor investment purposes as well as for hedging (the practice ofundertaking one investment activity with the aim of protecting againstloss in another) or other efficient portfolio management purposes.

1 Income earned on investments will be added to the value of investors'shares. Shares can be bought and sold on each Dealing Day.




1 2 3 4 5 6 7

1 The lowest category does not mean 'risk free'.

1 The risk and reward profile is not guaranteed and may change over time.

1 Historical data may not be a reliable indication for the future.

1 The risk category for this share class is 5 as funds of this nature engagein strategies that typically have a moderate to high volatility. Thecalculation is based on the historical volatility of the Fund's performance.Where there is insufficient Fund performance the calculation is based oneither the historical volatility of a relevant benchmark for the investmentstrategy or the manager's Value at Risk limit for the Fund. Please refer tothe prospectus for further information relating to the Value at Risk.

The following risks may not be fully captured by the risk and rewardprofile:

1 The use of FDI involves additional risks: (i) FDI may be highly sensitive toprice movements of the asset on which they are based; (ii) a counterpartyto a non-exchange traded FDI may not meet its payment obligations inthe event of default; (iii) the use of FDI may result in increased leverage.These risks may lead to significant losses.

1 Liquidity characteristics of non-exchange listed investments can beirregular, and may result in higher than anticipated costs to liquidate theinvestment.

1 A limited number of investments may be held which can increase thevolatility of performance.

1 The Fund is a specialist geographic regional fund which, as a result, maycarry greater risk than a more internationally diversified portfolio.

1 The Fund is subject to normal market fluctuations and the risksassociated with investing in international securities markets and thereforethe value of your investment and the income from it may rise as well asfall and you may not get back the amount originally invested.

A complete description of risks is set out in the prospectus section entitled'Risk Factors'.

ChargesThe charges you pay are used to pay the costs of running the Fund. Thesecharges reduce the potential growth of your investment.


Entry charge None

Exit charge None

This is the maximum that might be taken out of your money before it isinvested / before the proceeds of your investment are paid out.





The entry and exit charges shown are maximum figures and in some casesyou might pay less. Please refer to your financial advisor or the distributorfor the actual charges.

The ongoing charges figure is based on expenses for the year ending31/05/2018.

This figure may vary from year to year. It excludes performance fees (whereapplicable) and portfolio transaction costs, except in the case of an entry/exit charge paid by the Fund when buying or selling units in another sub-fund.

If you switch between different sub-funds of the Company you may pay aswitching charge on your subscription to the new sub-fund. This chargemay be an amount equal to the entry charge of the new sub-fund.

For detailed information on charges and fees please see the 'Fees andExpenses' section of the prospectus.

Past performance

Man GLG Continental European Growth Fund ProfessionalAccumulation Shares (Class C)

%

1 The Fund was authorised in 2004.This share class was launched on 21 May 2004.

1 The past performance chart shows the annual performance, calculated inGBP, for each full calendar year since launch.

1 The performance in this table includes all fees and expenses, excludingany entry or exit charges, and shows percentage year-on-year changes inFund value.

1 Please be aware that past performance is not a reliable indicator of, orguide to, future performance.

Practical information1 The Fund is a sub-fund of the Company which is an umbrella scheme

comprising a number of sub-funds.

1 BNY Mellon Trust & Depositary (UK) Limited is the depositary of theCompany. The Fund's assets are treated as being segregated from theassets of other sub-funds of the Company.

1 Additional information related to the Fund is located in the prospectuswhich is produced in an official language of the jurisdictions in which theFund is registered for public sale. The prospectus is available togetherwith the most recent financial statements, information on other shareclasses and the latest prices of shares free of charge at www.man.com.

1 The Fund is subject to taxation legislation in the UK, which may have animpact on your personal tax position as an investor in the Fund.

1 Man Fund Management UK Limited may be held liable solely on the basisof any statement contained in this document that is misleading,inaccurate or inconsistent with the relevant parts of the prospectus forthe Fund.

1 You may switch shares in the Fund for shares in any other sub-fund ofthe Company. Further information and provisions are in the prospectus.

1 Details of Man Fund Management UK Limited's Remuneration Policy areavailable at www.man.com/mfm-remuneration-policy, including: (a) adescription of how remuneration and benefits are calculated; and (b) theidentity of persons responsible for awarding remuneration and benefits. Apaper copy of these details may be obtained, free of charge, at ManFund Management UK Limited at Riverbank House, 2 Swan Lane,London, EC4R 3AD, United Kingdom.

The Fund is a "UCITS scheme" for the purposes and rules of Financial Conduct Authority. The Company and Man Fund Management UK Limited areauthorised in the UK and regulated by the Financial Conduct Authority.This key investor information is accurate as at 01/08/2018.

KEY INVESTOR INFORMATION

This document provides you with key investor information about this fund. It is not marketingmaterial. The information is required by law to helpyou understand the nature and the risks of investing in this fund. You are advised to read it so you canmake an informed decision about whetherto invest.

FIXED INCOME

AXA Sterling Index Linked Bond Fund

A Sub-Fund of AXA Fixed Interest Investment ICVCShare class: AXA Sterling Index Linked Bond Fund Z (Gross) Accumulation GBP (ISIN: GB00B02Y6B22)This Sub-Fund is managed by AXA Investment Managers UK Limited, part of the AXA IM Group

Objective and Investment PolicyInvestment ObjectiveThe aim of the Fund is to provide income and capital growth, with theobjective of reducing the negative effect of inflation over the longterm.

Investment PolicyThe Fund invests primarily in a portfolio of index-linked bonds issuedby the UK government. The fund manager also seeks to increaseperformance of the Fund by investing in non-governmental, non-index-linked, and non-Sterling denominated bonds where these offerbetter value. The Fund is managed with reference to the compositionand risk profile of the FTSE Actuaries UK Index-Linked Gilts Over 5Years Index. However the fund manager invests on a discretionarybasis with a significant degree of freedom to take positions whichare different from the index.Where bonds are denominated in a currency other than Sterling, theFund aims to reduce the risk of movements in exchange ratesbetween such currency and Sterling through the use of derivatives(financial instruments which derive their value from the value ofother assets). The Fund may also use derivatives in an attempt toreduce the overall risks of its investments, reduce the costs ofinvesting or generate additional capital or income (known asEfficient Portfolio Management - EPM).

IncomeIncome from investments in the Fund will be rolled up into the valueof your Accumulation shares.

Fund CurrencyThe reference currency of the Fund is Sterling.

Investment HorizonThis Fund may not be suitable for investors who plan to withdrawtheir contribution within five years.

Processing of subscription and redemption ordersYour orders to buy, sell or transfer shares in the Fund, must bereceived by the Administrator by 12 noon on any working day toreceive that day's Fund price. Also this Fund has another ValuationPoint on the last business day of each month and therefore anadditional dealing cut off at 4.30pm on that day only. Please notethat if your order is placed by an intermediary or Financial Adviser,they may require extra processing time.

The Net Asset Value of this Fund is calculated on a daily basis.

Minimum initial investment: £100,000

Minimum subsequent investment: £5,000

Risk and Reward ProfileLower risk Higher risk

Potentially lower reward Potentially higher reward

1 2 3 4 5 6 7

The risk category is calculated using historical performance dataand may not be a reliable indicator of the Fund's future risk profile.

The risk category shown is not guaranteed and may shift over time.

The lowest category does not mean risk free.

Why is this Fund in this category?The capital of the Fund is not guaranteed. The Fund is invested infinancial markets and uses techniques and instruments which aresubject to some level of variation which may result in gains orlosses.

Additional RisksCounterparty Risk: failure by any counterparty to a transaction (e.g.derivatives) with the Fund to meet its obligations may adverselyaffect the value of the Fund. The Fund may receive assets from thecounterparty to protect against any such adverse effect but there is arisk that the value of such assets at the time of the failure would beinsufficient to cover the loss to the Fund.

Credit Risk: the risk that an issuer of bonds will default on itsobligations to pay income or repay capital, resulting in a decrease inFund value. The value of a bond (and, subsequently, the Fund) is alsoaffected by changes in market perceptions of the risk of futuredefault. Investment grade issuers are regarded as less likely todefault than issuers of high yield bonds.

Derivatives: derivatives can be more volatile than the underlyingasset and may result in greater fluctuations to the Fund's value. Inthe case of derivatives not traded on an exchange they may besubject to additional counterparty and liquidity risk.

Inflation Linked Bond Risk: unlike other bonds, an inflation protectedsecurity (such as index linked gilts) reduces the negative effect ofinflation on its real value. The market value of such securities will beaffected both by the market's perception of future movements ininterest rates and the future rate of inflation. Therefore the marketvalue of such securities (and the value of the Fund) may not move inline with inflation rates in the short to medium term.

Interest Rate Risk: fluctuations in interest rates will change thevalue of bonds, impacting the value of the Fund. Generally, wheninterest rates rise, the value of the bonds fall and vice versa. Thevaluation of bonds will also change according to market perceptionsof future movements in interest rates.

Further explanation of the risks associated with an investment inthis Fund can be found in the prospectus.


FIXED INCOME

AXA Sterling Index Linked Bond Fund

ChargesThe charges you pay are used to pay the cost of running the fund,including the costs of marketing and distributing it. These chargesreduce the potential growth of your investment.One-off charges taken before or after you invest

Entry charge none

Exit charge none





Performance fees none

The entry and exit charges shown are maximum figures. In somecases, you might pay less - you can find this out from your FinancialAdviser.

The ongoing charges figure is based on expenses for the twelvemonth period ending December 2017. This figure may vary from yearto year. It excludes:Q Performance feesQ Portfolio transaction costs, except in the case of an entry/exit

charge paid by the Fund when buying or selling units in anothercollective investment undertaking

For more information about charges, please refer to AXA IM website:https://retail.axa-im.co.uk/fund-charges-and-costs as well asthe Fees and Expenses section of the prospectus which is availableat www.axa-im.com.

Past Performance

%

Q AXA Sterling Index Linked Bond Fund Z (Gross) Accumulation GBP(GB00B02Y6B22)

Q Benchmark30

25

20

15

10

5

0

-5

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

2.8 5.7 8.3 23.1 0.6 0.6 21.0 -0.7 26.6 1.8

3.3 5.6 9.1 23.3 0.5 0.6 21.4 -1.2 27.4 2.5

Past performance is not a reliable indicator of future results.

Past performance is shown after the deduction of ongoingcharges. Any entry/exit fees are excluded from the calculation.

The Fund was launched on 24/09/2004 and the share class in2004.

Past performance has been calculated in Sterling and is expressedas a percentage change of the Fund's Net Asset Value at each yearend.

The Benchmark is the FTSE Actuaries UK Index-Linked Gilts Over 5Years Index (FTRFILH).

Practical InformationDepositary:HSBC Bank PlcRegistered Office8 Canada SquareLondon, E14 5HQ

Further information: more detailed information on this Fund, suchas the prospectus as well as the latest annual and semi-annualreport, can be obtained free of charge from the Fund's ManagementCompany, the Administrator, the Fund's distributors or online atwww.axa-im.com. These documents are available in English.

The assets and liabilities of the Fund are segregated by UK law andare therefore protected from any losses suffered by other Sub-Fundsin the AXA Fixed Interest Investment ICVC.

More share classes are available for this Fund. For more detailsabout other share classes, please refer to the prospectus, which isavailable at www.axa-im.com.

Details of the up to date remuneration policy of the ManagementCompany are published online athttps://www.axa-im.com/en/remuneration. This includes thedescription of how remuneration and benefits are awarded foremployees, and information on the remuneration committee. TheManagement Company provides a paper copy free of charge uponrequest.

Net Asset Value Publication: the Net Asset Value per share isavailable at www.axa-im.com, and at the registered office of theFund's Management Company.

Tax Legislation: the Fund is subject to the tax laws and regulationsof the United Kingdom. Depending on your own country of residencethis might have an impact on your investments. For further details,you should consult a tax adviser.

Liability Statement: AXA Investment Managers UK Limited may beheld liable solely on the basis of any statement contained in thisdocument that is misleading, inaccurate or inconsistent with therelevant parts of the prospectus for the Fund.

Switching between Funds: shareholders may apply for their sharesto be converted into shares of another Fund, provided that theconditions for accessing the target share class are fulfilled.Investment would be at the Net Asset Value of the target fund,calculated at the applicable Valuation Point following receipt of theconversion request.

The redemption and subscription costs connected with theconversion may be charged to the shareholder as indicated in theprospectus.

For more details about how to switch Fund, please refer to thesection in the Fund's prospectus entitled "Can I switch shares andwhat are the implications?", which is available at www.axa-im.com.

This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). AXAInvestment Managers UK Limited is authorised in the United Kingdom and regulated by the Financial ConductAuthority (FCA). This key investor information is accurate as at 19/02/2018.

Objectives and investment policyThe Fund aims to provide long-term capital growth by investing primarily inthe shares of US companies or companies which carry out a largeproportion of their business activities in the US.

The Fund focuses investment on companies deemed by the InvestmentManager to be of high quality i.e. companies which have providedsustainably high levels of return on invested capital and free cash flow (acompany’s cash earnings after its capital expenditures have been accountedfor), typically those associated with strong brands or franchises.

The Fund may invest in other assets such as cash, other funds andderivatives (financial contracts whose value is linked to the price of anunderlying asset). Derivatives may be used in order to achieve the Fund’sinvestment objectives or for efficient portfolio management purposes e.g.with the aim of either managing the Fund risks or reducing the costs ofmanaging the Fund.

The Investment Manager is free to choose how the Fund is invested anddoes not manage it with reference to an index.

Any income due from your investment is reflected in the value of yourshares rather than being paid out.

You can buy or sell shares in the Fund on any business day in the UK, asdefined in the Investec Funds Series omnibus prospectus (section 1).

Recommendation: this Fund may not be appropriate for investors who planto withdraw their money within the short to medium term.



Potentially lower rewards Potentially higher rewards

This indicator is based on historical data and may not be a reliableindication of the future risk profile of the Fund. The risk and reward categoryshown is not guaranteed to remain unchanged and may shift over time. Thelowest category does not mean ’risk free’.

The value of your investment and any income from it can fall as well as riseand you are not certain of making profits; losses may be made.

The Fund appears towards the middle of the Risk and Reward Indicatorscale. This is because it invests in the shares of companies, whose valuestend to fluctuate more widely.

Risks that may not be fully captured by the Risk and Reward Indicator:

Concentrated portfolio: The portfolio invests in a relatively small number ofindividual holdings. This may mean wider fluctuations in value than morebroadly invested portfolios.

Currency exchange: Changes in the relative values of different currenciesmay adversely affect the value of investments and any related income.

Equity investment: The value of equities (e.g. shares) and equity-relatedinvestments may vary according to company profits and future prospects aswell as more general market factors. In the event of a company default (e.g.bankruptcy), the owners of their equity rank last in terms of any financialpayment from that company.

Geographic / Sector: Investments may be primarily concentrated in specificcountries, geographical regions and/or industry sectors. This may mean thatthe resulting value may decrease whilst portfolios more broadly investedmight grow.

The full list of the Fund’s risks are contained in the appendices of theInvestec Funds Series omnibus prospectus.

OEIC | KIID

KEY INVESTOR INFORMATIONThis document provides you with key investor information about this fund. It is not marketing material. The information isrequired by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so youcan make an informed decision about whether to invest.

InvestecAmerican Franchise Fund

A sub-fund of Investec Funds Series iiManaged by Investec Fund Managers Limited

Class I Accumulation shares in sterlingISIN: GB00B1XFJ342

ChargesThe charges you pay are used to pay the costs of running the Fund,including the costs of marketing and distributing it. These charges reducethe potential growth of your investment. The entry charge shown is the mostyou might pay, in some cases you might pay less. You can find out actualentry charges from your financial adviser.

The ongoing charges figure shown here is an estimate of the charges. TheFund’s annual report for each financial year will include detail on the exactcharges made. The figure excludes any performance fee and portfoliotransaction costs, except in the case of an entry or exit charge paid by theFund when buying or selling units in another fund. Ongoing charges mayvary from year to year.

For more information about charges, please see section 7 of the InvestecFunds Series omnibus prospectus.


Entry charge 0%

Exit charge None






Past performancePast performance is not a guide to future performance. The value of yourinvestment and income from it may go down as well as up and you may notget back the amount you invested.

The past performance shown in the chart takes account of all chargesexcept the Fund’s entry charge and the past performance is calculated insterling.

The Fund was launched on 23 September 2002 and this share class on1 June 2007.

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2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

-21.7Fund 30.4 14.5 -13.3 0.0 26.8 19.3 1.9 44.4 9.8

%

Fund - GB00B1XFJ342

(1): Performance has been simulated for this period based on a longerestablished share class


The Fund’s depositary is State Street Trustees Limited. The latest publishedprices for shares in the Fund are available onwww.investecassetmanagement.com. Other share classes are available forthis Fund as described in the Investec Funds Series omnibus prospectus.UK tax legislation may have an impact on your personal tax position.

The Fund is a sub-fund of Investec Funds Series ii. You may switch betweenother Investec Funds Series i, ii, iii or iv sub-funds or share classes of thesame sub-fund at no extra charge (unless the other share class has a higherentry charge, in which case the difference may be payable). Details onswitching are contained in section 3 of the Investec Funds Series omnibusprospectus. The assets of the Fund are ring-fenced and cannot be used topay the debts of other Investec sub-funds in the same Investec Fund Series.

Investec Fund Managers Limited may be held liable solely on the basis ofany statement contained in this document that is misleading, inaccurate orinconsistent with the relevant parts of the Investec Funds Series omnibusprospectus.

The latest remuneration policy relating to Investec Fund Managers Limitedis available free of charge on request from the address below or from:www.investecassetmanagement.com/remuneration

English language copies of the Investec Funds Series omnibus prospectusand Investec Funds Series ii latest annual and semi-annual reports may beobtained free of charge from Investec Fund Managers Limited, WoolgateExchange, 25 Basinghall Street, London EC2V 5HA.

This Fund is authorised in the United Kingdom and regulated by theFinancial Conduct Authority.

This Key Investor Information Document is accurate as at 5 October 2018.

OEIC | KIID

GB00B1XFJ342/EN.

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.

TB Amati UK Smaller Companies Fund, a sub-fund of the TB Amati Investment Funds B Accumulation, ISIN: GB00B2NG4R39

The Authorised Corporate Director of this Fund is: T. Bailey Fund Services Limited.

Objectives and Investment Policy The Fund aims to provide long term capital growth. The Fund invests in smaller UK company shares and shares of companies that can be bought and sold on UK stock markets. The Fund will primarily invest (i.e. typically more than 75%) in companies which are either incorporated in the UK or are listed* in the UK and have the majority of their economic activity in the UK. The Fund also has the discretion to invest an amount (typically less than 25%) in companies which are listed* in the UK but are not incorporated in the UK and do not have the majority of their economic activity in the UK. There may be occasions when the Investment Manager chooses to hold large degrees of cash or money market instruments in order to protect returns in certain market conditions (e.g. a severe market downturn). The performance benchmark of the Fund is the Numis Smaller Companies Index (excluding investment companies and including AIM). The Fund is not managed to generate an income. Any income arising from the Fund is reinvested. In other words all units are accumulation units. Investors can redeem units on demand, at the daily valuation point of 12 noon (UK time) when this is a normal business day in the UK. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money in the short-term

(within 5 years). The Fund should be viewed as a medium to long-term investment only. * “Listed” for the purposes of the Fund’s Objective and Investment Policy means listed on the Main Market of the London Stock Exchange or quoted on the Alternative Investment Market or NEX Exchange.

Risk and Reward Profile The Risk and Reward Indicator below demonstrates in a standard format where the Fund ranks in terms of its potential risk and reward. It is based on historical performance 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. The higher the rank the greater the potential reward but the greater the risk of losing money. Lower risk Higher risk


1 2 3 4 5 6 7

The Fund is in the above risk category because it invests in

shares.

Smaller companies’ securities are often traded less frequently than those of larger companies, this means they may be more difficult to buy and sell. Their prices may also be subject to short term swings.

The lowest category does not mean a fund is a risk free

investment. The value of investments may go down as well as up in

response to general market conditions and the performance of the assets held. Investors may not get back the money which they invested.

There is no guarantee that the Fund will meet its stated

objectives.

The movements of exchange rates may lead to further changes in the value of investments and the income from them.

There is a risk that any company providing services such as

safe keeping of assets or acting as counterparty to derivatives may become insolvent, which may cause losses to the Fund.

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 expenses incurred by the Fund (annualised) for the six months ended 31 July 2018.

The figure may vary from year to year. It excludes payments related to interest on borrowing and portfolio transaction costs, except in the case of transaction fees payable to the custodian.

For details of the actual charges, please contact your financial adviser/distributor.


Entry charge nil

Exit charge nil

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


Charges taken from the Fund under specific conditions

Performance fee nil

Past Performance (Fund launch date 29 July 2008)

The Past Performance chart shows annual performance, in GBP, for each of the last 10 calendar years. The Fund was created as a new investment structure by the transfer of the First State British Smaller Companies Fund in July

2008. Figures for 2008 therefore incorporate performance for this fund. Past performance is not a reliable indicator of future results. Performance is shown inclusive of all charges, except entry charges.

Practical Information

Further information about the Fund including the Prospectus & Supplementary Information document is available free of charge at www.tbaileyfs.co.uk. Please contact T. Bailey for copies of the latest annual and half-yearly reports. All documents are available in English only.

This Key Investor Information is prepared for the TB Amati UK Smaller Companies Fund, a compartment of the TB Amati Investment Funds, a UCITS. The Prospectus and periodic reports referred to above are prepared for the entire UCITS.

Although as at the date shown below no other compartments have been launched, any subsequent compartment would be a segregated portfolio of assets and those assets can only be used to meet the liabilities of, or claims against, that compartment.

Latest prices are published at www.fundlistings.com.

The Fund’s home Member State is the UK and this may have an impact on the personal tax position of the investor. Please seek professional advice from your Financial Adviser if you are unsure.

The depositary of the Fund is NatWest Trustee and Depositary Services Limited. T. Bailey Fund Services 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. Details of the up to date remuneration policy which includes a description of how remuneration and benefits are calculated and

the identities of the persons responsible for awarding remuneration and benefits, are available at www.tbaileyfs.co.uk and a paper copy will be available free of charge upon request.

Another share class is available in this Fund: (A Accumulation & B Accumulation) please see separate Key Investor Information document for details. Investors have the right to request a switch to the other share class of this Fund or to another fund in the TB Amati Investment Funds, should it be launched – see Prospectus for more details.

The Fund is authorised in the UK and is regulated by the Financial Conduct Authority. T. Bailey Fund Services Limited is authorised in the UK and is regulated by the Financial Conduct Authority.

This Key Investor Information is accurate as at 28 September 2018.

Authorised Corporate Director Contact Details

T. Bailey Fund Services Limited,

64, St. James’s Street,

Nottingham, NG1 6FJ

T: 0115 988 8275

W: www.tbaileyfs.co.uk

Source:

FE Analytics

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

TB Amati UK Smaller Companies B in GBP -43.8 67.0 49.7 -3.8 12.9 31.1 4.4 23.2 15.6 36.2

Numis Smaller Companies Index (ex inv cos &inc AIM)

-47.7 61.4 31.5 -13.1 22.5 30.9 -4.8 8.6 12.0 21.9

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http://www.tbaileyfs.co.uk/

http://www.fundlistings.com/



� Key Investor InformationThis document provides you with key investor information about this Fund. It is not marketing material. The information isrequired by law to help you understand the nature and the risks of investing in this Fund. You are advised to read it soyou can make an informed decision about whether to invest.

JPM Europe Smaller Companies Fund C - Net Accumulationa Share Class of JPM Europe Smaller Companies Funda Fund of JPMorgan Fund II ICVC ISIN GB00B5SDTW07

The Authorised Corporate Director ("ACD") is JPMorgan Funds Limited

Objective and Investment Policy

Investment Objective: To provide long-term capital growth byinvesting primarily in European smaller companies.

Investment Policy: European smaller companies are companiesthat are incorporated under the laws of, and have their registeredoffice in, Europe (excluding the UK), or that derive thepredominant part of their economic activity from Europe(excluding the UK), even if listed elsewhere.

The Fund may invest in assets denominated in any currency andnon-Sterling currency exposure may be hedged back to Sterling.

The Fund may also use Financial Derivative Instruments(derivatives) for the purpose of Efficient Portfolio Management,including hedging, where appropriate.

Redemption and Dealing: Shares of the Fund may beredeemed on demand, with dealing normally on a daily basis.

Management Discretion: The Investment Adviser has thediscretion to buy and sell investments on behalf of the Fundwithin the limits of the Objective and Investment Policy.

Benchmark: The benchmark of the Fund is EMIX SmallerEuropean Companies ex UK Index (Net).

The benchmark is a point of reference against which theperformance of the Fund may be measured. The Fund may bearlittle resemblance to its benchmark.

Distribution Policy: This Share Class will reinvest income.

Portfolio Transaction Costs: The investment strategy used tomanage this Fund aims to generate higher returns. Aconsequence of this investment strategy is that the volume oftransactions and, therefore, transaction costs, are material.Portfolio transaction costs are paid from the assets of the fund.They are additional to the charges set out in the Charges section.The chart in the Past Performance section shows the Fund'sperformance including portfolio transaction costs.

For an explanation of some of the terms used in this document,please visit the glossary on our website at www.jpmorgan.co.uk/kiid-glossary.

Risk and Reward Profile



1 2 3 4 5 6 7

The above rating is based on the historic volatility of the NetAsset Value of the Share Class over the last five years and maynot be a reliable indication of the future risk profile of the ShareClass.

The risk and reward category shown above is not guaranteed toremain unchanged and may change over time.

A Share Class with the lowest risk rating does not mean a risk-free investment.

Why is this Share Class in this category? This Share Class isclassified in category 5 because its Net Asset Value hasshown medium to high fluctuations historically.

Other material risks:D The value of your investment may fall as well as rise and youmay get back less than you originally invested.

D The value of equity and equity-linked securities may fluctuatein response to the performance of individual companies andgeneral market conditions.

D The Fund invests in securities of smaller companies whichmay be more difficult to sell, more volatile and tend to carrygreater financial risk than securities of larger companies.

D This Fund is aggressively managed, which may result inhigher volatility of the Fund's performance and biggerdifferences between the performance of the Fund and itsbenchmark.

D Movements in currency exchange rates can adversely affectthe return of your investment.

D Further information about risks can be found in "Part 11: RiskWarnings" of the Prospectus.

www.jpmorgan.co.uk/kiid-glossary

www.jpmorgan.co.uk/kiid-glossary

Charges


Entry charge None

Exit charge None

This is the maximum that might be taken out of your moneybefore it is invested or before the proceeds of your investmentare paid out.

Charges taken from this Share Class over a year


Charges taken from this Share Class under certain specificconditions

Performance fee: None

D The actual entry and exit charges paid may be less.Information on charges can be obtained from the investor'sfinancial adviser.

D The Prospectus permits a fee to be charged for switchingbetween Funds but this fee is currently waived by theAuthorised Corporate Director.

D The ongoing charge is based on the last year's expenses toDecember 2017 and may vary from year to year.

D Charges are used to pay the costs of running this Share Class.These charges reduce the potential growth of the investment.

D Further information about charges can be found in "Part 5:Charges and Expenses" section of the Prospectus.

Past Performance

%Q JPM Europe Smaller Companies Fund C - Net Accumulation (GB00B5SDTW07)Q Benchmark

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

-37.0 27.7 27.9 -25.9 10.2 42.9 -4.2 29.9 15.2 28.9

-33.8 41.3 16.8 -24.3 16.1 36.6 -2.4 16.6 22.5 22.6

1

D Past performance is not a guide tofuture performance.

D Performance data has beencalculated including tax, ongoingcharges and portfolio transactioncosts and excluding entry and exitcharges, in GBP.

D Fund launch date: 1990.D Share Class launch date: 2012.

1 The performance shown prior the launchdate of this share class relates to the Ashare class. The A share classperformance has not been amended orsimulated to adjust for the lower ongoingfees of the C share class.

Practical Information

Depositary: The fund depositary is NatWest Trustee andDepositary Services Limited

Further Information: A copy of the Prospectus and latest annualand semi-annual financial report in English can be downloadedor ordered online from www.jpmorgan.co.uk/investor or areavailable free of charge upon request from our UK-basedInvestor Services Team on 0800 20 40 20 (or +44 1268 44 4470 if calling from outside the UK) or by writing to J.P. MorganAsset Management, Client Administration Centre, PO Box 12272,Chelmsford, CM99 2EL.

Share prices can be obtained online at www.jpmorgan.co.uk/investor or by telephoning 0800 20 40 20 (or +44 1268 44 44 70 ifcalling from outside the UK).

Please note if you call J.P. Morgan Asset Management, calls maybe recorded and monitored for security and training purposes.

Remuneration Policy: The ACD's Remuneration Policy can befound on https://am.jpmorgan.com/gb/en/asset-management/gim/awm/legal/emea-remuneration-policy. This policy includesdetails of how remuneration and benefits are calculated,including responsibilities and composition of the committeewhich oversees and controls the policy. A copy of this policycan be requested free of charge from the ACD.

Tax: The Fund is subject to UK tax regulations. This may have animpact on an investor's personal tax position.

Legal Information: JPMorgan Funds Limited may be held liablesolely on the basis of any statement contained in this documentthat is misleading, inaccurate or inconsistent with the relevantparts of the Prospectus.

JPMorgan Fund II ICVC consists of separate Funds, each ofwhich issues one or more Share Classes. This document isprepared for a specific Share Class. The Prospectus and annualand semi-annual financial reports are prepared for JPMorganFund II ICVC.

The Fund is part of JPMorgan Fund II ICVC. The assets andliabilities of each fund in JPMorgan Fund II ICVC are segregatedby law. This means that the assets of the Fund belong exclusivelyto the Fund and will not be used to pay the liabilities of any otherperson or body, including JPMorgan Fund II ICVC or any otherFund within JPMorgan Fund II ICVC.

Switching and Conversion: Investors may switch into Shares ofanother Fund of JPMorgan Fund II ICVC or convert Shares in oneClass in a Fund to Shares of another Class in the same Fundsubject to meeting any relevant eligibility requirements andminimum holding amounts. Further information can be found in"section 4.3.10 - Switching and Conversion of Shares" of theProspectus.

This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA).JPMorgan Funds Limited is authorised in the United Kingdom and regulated by the FCA.This Key Investor Information is accurate as at 12/10/2018.

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www.jpmorgan.co.uk/investor









https://am.jpmorgan.com/gb/en/asset-management/gim/awm/legal/emea-remuneration-policy







This document provides you with key investor information about this fund. It is not marketingmaterial. The information is required by law to helpyou understand the nature and the risks of investing in this fund. You are advised to read it so you canmake an informed decision about whetherto invest.

FRAMLINGTON EQUITIES

AXA Framlington Managed Income Fund

Unit class: AXA Framlington Managed Income Fund Z (Gross) Accumulation GBP (ISIN: GB00B7H1PG56)This Fund is managed by AXA Investment Managers UK Limited, part of the AXA IM GroupUnit class Z (Gross) Accumulation GBP (GB00B7H1PG56) is representative for Unit class Z (Gross) Income GBP (GB00B71DB365).

Objective and Investment PolicyInvestment ObjectiveThe aim of this Fund is to produce a high income with potential forlong-term growth of capital.

Investment PolicyThe Fund invests primarily in bonds issued by companies (principallyUK companies) which the fund manager believes will provide above-average income. The Fund may also invest in bonds issued bygovernments and shares of companies. The fund manager selectsbonds and shares based upon analysis of a company's financialstatus, quality of its management, expected profitability andprospects for growth.

IncomeIncome from investments in the Fund may be paid out to you directlyif you hold income units.

Income from investments in the Fund will be rolled up into the valueof your unit if you hold accumulation units.

Fund CurrencyThe reference currency of the Fund is Sterling.

Investment HorizonThis Fund may not be suitable for investors who plan to withdrawtheir contribution within five years.

Processing of subscription and redemption ordersYour orders to buy, sell or transfer units in the Fund must be receivedby the Administrator by 12 noon on any working day, to receive thatdays Fund price. Please note that if your order is placed by anintermediary or Financial Adviser they may require extra processingtime.

The Net Asset Value of this Fund is calculated on a daily basis.

Minimum initial investment: £100,000

Minimum subsequent investment: £5,000

Risk and Reward ProfileLower risk Higher risk


1 2 3 4 5 6 7

The risk category is calculated using historical performance dataand may not be a reliable indicator of the Fund's future risk profile.

The risk category shown is not guaranteed and may shift over time.

The lowest category does not mean risk free.

Why is this Fund in this category?The capital of the Fund is not guaranteed. The Fund is invested infinancial markets and uses techniques and instruments which aresubject to some level of variation which may result in gains orlosses.

Additional RisksCredit Risk: the risk that an issuer of bonds will default on itsobligations to pay income or repay capital, resulting in a decrease in

Fund value. The value of a bond (and, subsequently, the Fund) is alsoaffected by changes in market perceptions of the risk of futuredefault. The risk of default for high yield bonds may be greater thanbonds of investment grade issuers.

Interest Rate Risk: fluctuations in interest rates will change thevalue of bonds, impacting the value of the Fund. Generally, wheninterest rates rise, the value of the bonds fall and vice versa. Thevaluation of bonds will also change according to market perceptionsof future movements in interest rates.

Liquidity Risk: some investments may trade infrequently and in smallvolumes. As a result the Fund manager may not be able to sell at apreferred time or volume or at a price close to the last quotedvaluation. The Fund manager may be forced to sell a number of suchinvestments as a result of a large redemption of units in the Fund.Depending onmarket conditions, this could lead to a significant dropin the Fund's value and in extreme circumstances lead the Fund tobe unable to meet its redemptions.

Further explanation of the risks associated with an investment inthis Fund can be found in the prospectus.


FRAMLINGTON EQUITIES

AXA Framlington Managed Income Fund

ChargesThe charges you pay are used to pay the cost of running the fund,including the costs of marketing and distributing it. These chargesreduce the potential growth of your investment.One-off charges taken before or after you invest

Entry charge none

Exit charge none





Performance fees none

The entry and exit charges shown are maximum figures. In somecases, you might pay less - you can find this out from your FinancialAdviser.

The ongoing charges figure is based on expenses for the twelvemonth period ending December 2017. This figure may vary from yearto year. It excludes:Q Performance feesQ Portfolio transaction costs, except in the case of an entry/exit

charge paid by the Fund when buying or selling units in anothercollective investment undertaking

For more information about charges, please refer to AXA IM website:https://retail.axa-im.co.uk/fund-charges-and-costs as well asthe Fees and Expenses section of the prospectus which is availableat www.axa-im.com.

Past Performance

%Q AXA Framlington Managed Income Fund Z (Gross) Accumulation

GBP (GB00B7H1PG56)14

12

10

8

6

4

2

0

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

12.3 8.4 1.5 12.4 7.9

Past performance is not a reliable indicator of future results.

Past performance is shown after the deduction of ongoingcharges. Any entry/exit fees are excluded from the calculation.

The Fund was launched on 27/02/1981 and the unit in 2012.

Past performance has been calculated in Sterling and is expressedas a percentage change of the Fund's Net Asset Value at each yearend.

Practical InformationTrustee:Nat WestTrustee and Depository Services Ltd.,Younger Building1st Floor3 Redheughs AvenueEdinburghEH12 9RH

Further information: More detailed information on this Fund, suchas the prospectus as well as the latest annual and semi-annualreport, can be obtained free of charge from the Fund's ManagementCompany, the Administrator, the Fund's distributors or online atwww.axa-im.com. These documents are available in English.

More unit classes are available for this Fund. For more details aboutother units, please refer to the prospectus, which is available atwww.axa-im.com.

Details of the up to date remuneration policy of the ManagementCompany are published online athttps://www.axa-im.com/en/remuneration. This includes the

description of how remuneration and benefits are awarded foremployees, and information on the remuneration committee. TheManagement Company provides a paper copy free of charge uponrequest.

Net Asset Value Publication: the Net Asset Value per unit isavailable at www.axa-im.com and at the registered office of theManagement Company.

Tax Legislation: the Fund is subject to the tax laws and regulationsof the United Kingdom. Depending on your own country of residencethis might have an impact on your investments. For further details,you should consult a tax adviser.

Specific Unit class Information:Unit class Z (Gross) Accumulation GBP (GB00B7H1PG56) isrepresentative for Unit class Z (Gross) Income GBP(GB00B71DB365).

Liability Statement: AXA Investment Managers UK Limited may beheld liable solely on the basis of any statement contained in thisdocument that is misleading, inaccurate or inconsistent with therelevant parts of the prospectus for the Fund.

This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA). AXAInvestment Managers UK Limited is authorised in the United Kingdom and regulated by the Financial ConductAuthority (FCA). This key investor information is accurate as at 12/10/2018.

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.

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.

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) A concentrated portfolio may be more volatile than a more broadly

diversified one.

(c) The shares of smaller companies may be less liquid and more volatile than

those of larger companies.

(d) The use of 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 market 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.

The fund employs a single swinging pricing methodology to protect against the

dilution impact of transaction costs. A change in the pricing basis will result in

movement in the fund's published price.

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 and systems including but not limited to third party providers failing

or going into administration.


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.

Global Smaller Companies Fund, a Sterling denominated sub fund of the Standard Life Investment Company, Platform 1

Accumulation Shares (ISIN:GB00B7KVX245). This fund is managed by Aberdeen Standard Fund Managers Limited.

Objectives and Investment PolicyThe fund aims to provide long term growth by investing predominantly in the

shares of smaller companies listed on the global stock markets.

The fund typically holds a concentrated portfolio of stocks and is actively

managed by our investment team, who will select stocks to try to take

advantage of opportunities they have identified. Due to the nature of the

companies in which the fund invests, investors must be willing to accept a

relatively high degree of stock specific risk.

The fund may use derivatives to reduce risk or cost, or to generate additional

capital or income at proportionate risk (Efficient Portfolio Management).

Derivatives will only be used for hedging or to provide exposures that could be

achieved through investment in the assets in which the fund is primarily

invested. 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 dealing day (as defined in

the Prospectus).

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.


1 2 3 5 6 74 5



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 2012. The share class was launched in 2012.

The performance of the share class is calculated in Sterling.

The fund does not have an index-tracking objective.

ChargesThe 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.


Ongoing charges: 1.05%


Performance Fees: None

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 28/2/2018 . 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


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 www.standardlifeinvestments.com.

Past PerformanceGlobal Smaller Companies Fund, Platform 1 Accumulation Shares, 31 December

2017

% Returns

Year

38.7

-1.8

11.6

26.3 25.3

2013 2014 2015 2016 2017-10

-5

0

5

10

15

20

25

30

35

40

45

Source: Standard Life Investments

Practical InformationName 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 www.standardlifeinvestments.com, 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 www.standardlifeinvestments.com.

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

www.standardlifeinvestments.com and a paper copy will be available free of

charge upon request from Aberdeen Standard Fund Managers Limited.

Prospective investors should consult their own professional advisers on the

potential tax consequences of acquiring, holding or selling shares.

Aberdeen Standard Fund 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 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

www.standardlifeinvestments.com.

The Standard Life Investment Company and Aberdeen Standard Fund Managers Limited are authorised in the United Kingdom and regulated by the Financial

Conduct Authority. This Key Investor Information is accurate at 10/12/2018

Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.

Standard Life Investments Limited is registered in Scotland (SC123321) at 1 George Street Edinburgh EH2 2LL and is authorised and regulated in the UK by the Financial Conduct Authority.

KIID_ZGSC_32_Acc_N_GBP_GB_EN_21112018

Key Investor InformationThis document provides you with key investor information about this fund. It is not marketing material. The informationis required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it soyou can make an informed decision about whether to invest.

UBS Global Emerging Markets Equity Fund, class C Acc (ISIN: GB00B7L34154), UBS Investment Funds ICVCThis Fund is managed by UBS Asset Management Funds Ltd, a subsidiary of UBS AG


The UBS Global Emerging Markets Equity Fund (the "Fund") isan actively managed Fund that seeks to achieve long termcapital growth through management of a diversified portfolioinvested primarily in global emerging equity markets.

Other information:

5 The Fund may also invest in non-emerging market equitiesand other financial instruments, including warrants, moneymarket instruments, deposits, cash and near cash and units incollective investments schemes, which may be managed byUBS.

5 The Fund may use derivatives (financial instruments whosevalue is linked to an underlying asset or index) for thepurposes of efficient portfolio management.

Investors can buy or sell shares every UK working day.

The income in respect of an accumulation share class is notdistributed but is retained in the Fund and reflected in theshare price.

The Fund is denominated in GBP (Sterling). As such, investorsmay be exposed to changes in the exchange rate between theunderlying currency of the Fund's assets and GBP which mayhave a negative or positive impact on the returns.

Important information: This Fund may not be appropriatefor investors who plan to withdraw their money within 7years of investment.




1 2 3 4 5 6 7More about this rating5 The risk category is based on return volatility of the Fund over

the last five years or, where the fund has existed for less thanfive years, a combination of the return volatility of the fundand a model portfolio. The method used for this estimationdepends on the type of fund.

5 Historical data may not be a reliable indication for the future.5 The risk category shown is not guaranteed and may vary over

time.5 The lowest category does not mean 'risk free'.

Why is this fund in Category 6?The fund is in category 6 because the volatility of past returnsof the Index has been very high.

The indicator opposite does not take account of thefollowing risks when investing in the Fund5 Small use of uncollateralized over-the-counter instruments

exposes the Fund to small potential counterparty default risk.5 A significant proportion of the Fund is invested in less liquid

assets where the difference between buying and sellingprices, particularly under the impact of trading, may increasesignificantly under adverse market conditions.

5 The use of derivatives to reduce risk or minimise costs maynot always achieve the intended aim.

5 No Capital Guarantee exists for this product so investors canlose the whole of their investment.

5 The nature of this share class means that investors may beexposed to changes in the exchange rate between thecurrency of the fund's assets and GBP (Sterling) at thevaluation point, which may have a negative or positiveimpact on the returns.

Charges

The charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. Thesecharges reduce the potential growth of your investment.


Entry charge 0.00%

Exit charge 0.00%

This is the maximum that might be taken out of your moneybefore it is invested / before the proceeds of your investmentare paid out.




Performance fee none

The entry and exit charges shown are maximum figures. Insome cases you might pay less – you can find this out fromyour financial adviser.

The ongoing charges figure is based on expenses for the lasttwelve months ended to the date of this KIID. This figure mayvary from year to year. It generally excludes:5 Portfolio transaction costs, except in the case of an entry/exit

charge paid by the Fund when buying or selling units inanother collective investment undertaking

For more information, please see the charges section of theFund's prospectus, which is available at www.ubs.com/funds.

Past performance

%

Past performance is not a guide to futureperformancePerformance is based on NAV prices with incomereinvested net of basic rate tax. Figures show discreteannual performance on a calendar year basis, to themost recent year end. For details on Fund charges,please refer to the Charges section above. In general,any past performance takes account of all ongoingcharges but not the entry charge.

The class was launched in 2012.

The past performance of this Fund is calculated in GBP.


DepositaryNatWest Trustee and Depositary Services Limited

Further InformationThis document describes a Fund of the UCITS, named at thebeginning of this KIID. Liabilities are segregated by law and theliability of each Fund is limited in respect of any amount owedby the Fund itself.Existing investors have the right to switch their investment toanother Fund held within the same UCITS. Fund, share classand right to switch information can be found within the fullprospectus and the latest annual and semi-annual reports,which are prepared for the entire UCITS, and available free ofcharge, in English, from the Fund Management Company, 5Broadgate , London EC2M 2QS, or www.ubs.com/funds.The currency of the share class is GBP and its share price isavailable every UK working day at www.ubs.com/funds.

Tax LegislationThe Fund is subject to the tax laws and regulations of the UK.This might have an impact on your personal tax position. Forfurther details you should consult a tax adviser.

Liability StatementUBS Asset Management Funds Ltd may be held liable solely onthe basis of any statement contained in this document that ismisleading, inaccurate or inconsistent with the relevant parts ofthe prospectus of the fund.Remuneration.Details of the up-to-date remuneration policy, including, butnot limited to, a description of how remuneration and benefitsare calculated, the identity of persons responsible for awardingthe remuneration and benefits including the composition ofthe remuneration committee, if any, are availableat www.ubs.com/funds and a paper copy of theremuneration policy will be made available free of charge uponrequest

The Fund is authorised in the UK and regulated by the Financial Conduct Authority.UBS Asset Management Funds Ltd is authorised in the UK and regulated by the Financial Conduct Authority.This key investor information is accurate as at 02/11/2018.

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.

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.

The fund is rated as {3} 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 use of 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 market 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

routine use of derivatives.

(d) The fund invests in high yielding bonds which carry a greater risk of default

than those with lower yields.

The fund employs a single swinging pricing methodology to protect against the

dilution impact of transaction costs. A change in the pricing basis will result in

movement in the fund's published price.

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 and systems including but not limited to third party providers failing

or going into administration.


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.

Higher Income Fund, a Sterling denominated sub fund of the Standard Life Investment Company, Platform 1 Accumulation

Shares (ISIN:GB00B79RR984). This fund is managed by Aberdeen Standard Fund Managers Limited.

Objectives and Investment PolicyThe fund aims to provide a significantly higher level of income than that

available on gilts by investing mainly in sterling and euro denominated sub-

investment grade corporate bonds.

The fund is actively managed by our investment team who may also invest in

other bonds (such as investment grade corporate bonds and government

bonds) to try to take advantage of the opportunities they have identified.

The fund will routinely use derivatives to reduce risk or cost, or to generate

additional capital or income at proportionate risk (Efficient Portfolio

Management) or to meet its investment objective. Derivatives may be used to

provide market exposures different to those that could be achieved through

investment in assets in which the fund is primarily invested. Usage of

derivatives is monitored to ensure that the fund is not exposed to excessive or

unintended risks.

Any income, for example interest income, received by the fund will be

reinvested.

Investors in the fund may buy and sell shares on any dealing day (as defined in

the Prospectus).

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.


1 2 3 5 6 743



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 2000. The share class was launched in 2012.

The performance of the share class is calculated in Sterling.

The fund does not have an index-tracking objective.

ChargesThe 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.


Ongoing charges: 0.76%


Performance Fees: None

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 28/2/2018 . 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


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 www.standardlifeinvestments.com.

Past PerformanceHigher Income Fund, Platform 1 Accumulation Shares, 31 December 2017

% Returns

Year

9.2

3.2

2.0

8.6

5.5

2013 2014 2015 2016 2017-1

0

1

2

3

4

5

6

7

8

9

10

Source: Standard Life Investments

Practical InformationName 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 www.standardlifeinvestments.com, 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 www.standardlifeinvestments.com.

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

www.standardlifeinvestments.com and a paper copy will be available free of

charge upon request from Aberdeen Standard Fund Managers Limited.

Prospective investors should consult their own professional advisers on the

potential tax consequences of acquiring, holding or selling shares.

Aberdeen Standard Fund 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 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

www.standardlifeinvestments.com.

The Standard Life Investment Company and Aberdeen Standard Fund Managers Limited are authorised in the United Kingdom and regulated by the Financial

Conduct Authority. This Key Investor Information is accurate at 10/12/2018

Aberdeen Standard Investments is a brand of the investment businesses of Aberdeen Asset Management and Standard Life Investments.

Standard Life Investments Limited is registered in Scotland (SC123321) at 1 George Street Edinburgh EH2 2LL and is authorised and regulated in the UK by the Financial Conduct Authority.

KIID_XK_32_Acc_N_GBP_GB_EN_21112018

This document provides you with key investor information about this fund. It is not marketing material. Theinformation is required by law to help you understand the nature and the risks of investing in this fund. You are advisedto read it so you can make an informed decision about whether to invest.

Objectives and investment policyObjective The investment objective of the Fund is to maximiseinvestment return through income but with some capital growthover the medium (5 years) to long (7 years) term.Policy The Fund invests mainly in high quality sterlingdenominated bonds issued by companies. The Fund may usederivatives, but for efficient portfolio management purposes only.Recommendation The Fund may not be appropriate forinvestors who plan to withdraw their money within 5 years.

Concepts to understandBonds Securities that represent an obligation to repay a debt,with interest. Investment grade bonds are high quality bonds thatare viewed as being highly likely to make all scheduled paymentsof interest and principal. Low quality bonds carry higher risk butalso typically pay higher rates of interest.Derivative A financial instrument whose price is dependent uponor derived from one or more underlying asset.Efficient Portfolio Management An investment techniquethat allows the use of derivatives for at least one of the followingpurposes: to increase the value of the Fund; to protect the value ofthe Fund or to reduce the risks of certain investments.You can buy and sell your shares on each working day, except publicholidays, at 12:00 noon if you tell us before 12:00 noon that youwant to do so. Instructions received after 12:00 noon will beprocessed 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 Y, Accumulation Y, Income Z.All share classes are subject to a minimum investment. If this is anincome share class, any income will be paid out to you. If this is anaccumulation share class, any income will be reinvested in theFund.


1 2 3 4 5 6 7

Lower potential risk/reward Higher potential risk/rewardThe Fund is ranked in risk category 3 because its unit price hasshown a low to medium level of volatility historically. As aninvestment, bonds are typically more volatile than money marketinstruments but less volatile than shares. Bonds issued bycorporations are typically more volatile than bonds issued bygovernments. The indicator has been calculated using historicaldata and may not be a reliable indication of the future risk profileof the Fund.The risk and reward indicator is not a measure of the expected riseor fall in capital but shows how sharply the Fund’s share price hasgone up and down historically.A fund whose share price has experienced sharp or large increasesor decreases will sit in a higher risk category, whereas a fundwhose share price has experienced small or gradual increases ordecreases will sit in a lower risk category.The indicator is calculated using a standard methodology that isused 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 orlower, and its rated risk/reward profile could change. The lowestrisk 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:Credit Risk Issuers of certain fixed income securities couldbecome unable to make income or capital payments on their debt.As such the value of a security will fall in the event of a ratingdowngrade or default of the issuer. In general fixed incomesecurities that pay a higher level of income usually have a lowercredit rating because of the increased risk of default.Interest Rate Risk Fixed interest securities are particularlyaffected by trends in interest rates and inflation. If interest rates goup, the value of capital may fall, and vice versa. Inflation will alsodecrease the real value of capital.Liquidity Risk In difficult market conditions the value of certainfund investments may be less predictable than normal. In somecases this may make such investments harder to sell at the lastquoted market price, or at a price considered to be fair. Suchconditions could result in unpredictable changes in the value ofyour holding.For more about fund risks, see the risk factors section in the fullProspectus (www.rlam.co.uk/Home/Individual-Investor/Fund-Performance--Prices/)


Royal London Corporate Bond Fund(Accumulation - Class M Shares)A sub-fund of Royal London Bond Funds ICVC ISIN: GB00B87FJ401Managed by Royal London Unit Trust Managers Limited

1 of 2

ChargesThe charges you pay are used to pay the costs of running the Fund,including the costs of marketing and distributing the Fund. Thesecharges reduce the potential growth of the 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:


Charges taken from the fund under specific conditions:

Performance fee noneThe entry and exit charge is the maximum that might be taken outof your money before it is invested or before the proceeds of yourinvestment are paid out.For the entry and exit charges, if you are not eligible for this shareclass you will pay more than the amounts shown. Consult yourfinancial adviser.Ongoing charges figure is based on expenses for the year ending 31October 2017. This figure may vary from year to year and does notinclude portfolio transaction costs. Ongoing charges are the samefor all investors.For more about charges, see the expenses section in the fullProspectus and supplement (www.rlam.co.uk/Home/Individual-Investor/Fund-Performance--Prices/)

Past performanceThe graph shows fund performance over the past 10 years whereavailable. Past performance is no guarantee of future performance.The figure for a given year shows how much the Fund increased ordecreased in value during that year. These results reflect ongoingcharges taken from the Fund, but do not reflect any entry chargesyou might have to pay.The Fund was launched on 29 March 1999 and the share class on26 November 2012.

The Royal London Corporate Bond Fund(Accumulation - Class M Shares) in GBP

0%

2%

4%

6%

8%

10%

12%

14%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

2.3

12.4

0.2

9.5

7.1

FundSource: RLAM and Datastream as at 31 December 2017

The Fund was initially launched as a unit trust but was convertedto an open-ended investment company (OEIC) with effect from30 April 2010.Past performance is not a guide to future performance and may notbe repeated. The value of investments may go down as well as upand you may not get back the amount you originally invested.The chart shows performance in British pounds after the ongoingcharges and the portfolio transaction costs have been paid. Entryand exit charges are excluded from calculations of pastperformance.


Depository HSBC Bank plc

Additional Information: This Key Investor InformationDocument (KIID) may not contain all the information youneed. For additional information on this fund (including theSupplementary Information Document), on other shareclasses of this fund and on other funds, or to obtain a freecopy of the Fund’s Prospectus or the annual and semi-annual shareholder reports, call the information line orwrite to the registered office, details of which are below.Alternatively, visit www.rlam.co.uk. The Prospectus andshareholder reports are in English.

This document describes one share class of the Fund. TheProspectus and annual and semi-annual shareholder reportsare prepared for the entire fund across all share classes.

For fund performance and most recent share price, visitwww.rlam.co.uk.

Should you wish to switch share classes or funds, please seethe “Switching” section of the Prospectus for details.

Tax: Investors should note that the tax legislation thatapplies to the Fund may have an impact on the personal taxposition of their investment in the Fund. Contact youradviser to discuss tax treatment, suitability of thisinvestment, and other questions.

Notices: Royal London Unit Trust Managers may be heldliable solely on the basis of any statement contained in thisdocument that is misleading, inaccurate or inconsistent withthe 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 longreports (shareholder reports) are prepared for the entirecompany. The assets and liabilities of each sub-fund aresegregated by law. Therefore, the assets of the Fund belongexclusively to it and are not available to meet the liabilities ofany other fund of Royal London Bond Funds ICVC.

This Fund is authorised in the United Kingdom andregulated by the Financial Conduct Authority (FCA).

Details of the Company's remuneration policy are availableat www.rlam.co.uk including: (a) a description of howremuneration and benefits are calculated; and (b) theidentities of persons responsible for awarding remunerationand benefits. A paper copy of these details may be obtained,free of charge, on request from the Company, at the addressbelow.

Address: Royal London Asset Management55 Gracechurch Street, London EC3V 0RL

Telephone: 03456 04 04 04

Website: www.rlam.co.uk

A member of the Investment Association

Publication Date: This Key Investor Information isaccurate as at 9 February 2018.

Key Investor Information2 of 2

Royal London Corporate Bond Fund(Accumulation - Class M Shares)