Download Key Investor Information - Clayton Holmes Naisbitt

Centralised Investment Process
Model Portfolio 2
Key Investor Information / Simplified Prospectus
Portfolio Composition (25 June 2014)
Company Name
Fund Name
% of total fund
Allianz
Artemis
Fidelity
Franklin Templeton
HSBC
JO Hambro
Jupiter
L&G
L&G
M&G
Old Mutual
Standard Life
SWIP
Vanguard
Vanguard
Gilt Yield
Income
Cash
Global Total Return Bond
FTSE All Share Index
Continental European
Strategic Bond
Cash
US Index Trust
Optimal Income
Global Strategic Bond
UK Equity Income Unconstrained
Property
Inflation Linked Gilt Index
UK Government Bond Index Linked Bond
5
3
20
4
8
3
4
20
2
8
4
4
5
5
5
These documents provide you with key investor information about the funds shown above. It is not marketing material.
The information is required by law to help you understand the nature and risks of investing in these funds. You are
advised to read the documents so you can make an informed decision about whether to invest.
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.
Fidelity Cash Fund
Accumulation Units (ISIN: GB0003330528)
This fund is managed by FIL Investment Services (UK) Limited
Objectives and Investment Policy
n
n
n
n
n
n
n
Aims to maintain capital value while producing income.
Invests in a diversified range of money market instruments, other
short-term investments and transferable securities. Instruments will
normally be rated A2 long-term or P1 short-term by the credit
agency Moody's although an equivalent rating by Standard and
Poors or Fitch may be considered.
Has the freedom to invest in other short-term instruments of
appropriate credit quality.
The weighted average maturity of the Fund will generally be under
60 days.
Can invest in instruments issued by governments, companies and
other bodies.
Income is accumulated in the unit price.
Units can usually be bought and sold each business day of the
Fund.
Risk and Reward Profile
Lower risk
Higher risk
Typically lower rewards
1
2
Typically higher rewards
3
4
5
6
7
n
n
The risk category was calculated using historical performance data.
The risk category may not be a reliable indication of the future risk
profile of the fund, is not guaranteed and may change over time.
n
n
The lowest category does not mean a "risk free" investment.
The risk and reward profile is classified by the level of historical
fluctuation of the Net Asset Values of the share class, and within
this classification, categories 1-2 indicate a low level of historical
fluctuations, 3-5 a medium level and 6-7 a high level.
The value of your investment may fall as well as rise and you may
get back less than you originally invested.
Movements in currency exchange rates can adversely affect the
return of your investment. The currency hedging may be used to
minimise the effect of this but may not always be successful.
The use of financial derivative instruments may result in increased
gains or losses within the fund.
There is a risk that the issuers of bonds may not be able to repay
the money they have borrowed or make interest payments. When
interest rates rise, bonds may fall in value. Rising interest rates may
cause the value of your investment to fall.
n
n
n
n
Key Investor Information
Fidelity Cash Fund
Charges for this fund (ISIN: GB0003330528)
The charges you pay are used to pay the costs of running the fund, including the costs of marketing and distributing it. These charges reduce the
potential growth of your investment.
One-off charges taken before or after you invest
N/A
N/A
Entry charge
Exit charge
This is the maximum that might be taken out of your money before
it is invested or before the proceeds of your investment are paid
out.
Charges taken from the fund over a year
0.40%
Ongoing charges
Charges taken from the fund under certain specific
conditions
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 / distributor.
The ongoing charges figure is based on expenses for the year ending
05/04/2013. This figure may vary from year to year. It excludes:
n performance fees (where applicable);
n portfolio transaction costs, except in the case of an entry/exit charge paid
by the fund when buying or selling units in another collective investment
undertaking.
For more information about charges, please consult the charges section in
the most recent Prospectus.
Performance fee N/A
Past Performance
5.00%
4.00%
4.4
3.1
3.5
Past performance is not a guide to future
performance results.
4.1
3.5
3.00%
2.00%
1.00%
0.5
0.2
0.3
0.2
0.1
2010
2011
2012
2013
0.00%
2004
2005
2006
2007*
2008
2009
If any, the past performance shown takes into
account all ongoing charges with exception of
any applicable entry/exit charges.
The fund was launched on 01/01/1990. This
class was launched on 25/01/1993.
Past performance has been calculated in
GBP.
If applicable, events in the fund's life which may have affected the performance history are
highlighted as an '*' in the chart, which may include changes to the fund's objective and details of
such events can be found on our website. If applicable, the Investment Objective section shall refer
to a benchmark and information on previous benchmarks may be found in the Annual Report and
Accounts.
Practical Information
n
n
n
n
n
n
n
The depositary is J.P. Morgan Chase Bank.
For more information, please consult the Prospectus and latest Reports and Accounts which can be obtained free of charge in English and
other main languages from the Fund Manager, the distributors or online at any time.
The Net Asset Values per unit are available at the registered office of the Fund Manager. They are also published online at
www.fidelityworldwideinvestment.com/documents where other information is available.
The tax legislation in United Kingdom may have an impact on your personal tax position. For further details you should consult a tax advisor.
This document describes a unit class of the Fund. The Prospectus and Reports and Accounts are prepared for the entire Fund.
FIL Investment Services (UK) 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.
More unit classes may be available for this Fund. Details can be found in the Prospectus.
Country in which this fund is authorised: United Kingdom. The Supervisory Authority is: Financial Conduct
Authority.
Country in which FIL Investment Services (UK) Limited is authorised: United Kingdom. The Supervisory Authority is:
Financial Conduct Authority.
This key investor information is accurate as at 07/05/2014.
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 CASH TRUST R CLASS
ACCUMULATION ISIN: GB0005141584
This fund is managed by Legal & General (Unit Trust Managers) Limited.
OBJECTIVES AND INVESTMENT POLICY
The objective of this fund is to generate income into the
fund.
The fund will invest between 60% and 100% in
overnight and short-term deposits with major financial
organisations such as banks and building societies. The
fund may also invest in other types of deposits or
money market instruments and cash. Money market
instruments are a type of security where cash can be
deposited for short periods of time. The deposits and
money market instruments will be repayable by the
issuer within one year.
RISK AND REWARD PROFILE
Lower risk
Higher risk
Your units will be accumulation units. Income from
investments held by the fund (interest) will be
reinvested into the value of your units.
You can buy or sell units in this fund on any working
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 working day's price. This fund
may be appropriate if you are looking for a deposit
based investment.
The indicator opposite does not take account of the
following risks of investing in the fund:
• Your investment is not guaranteed and can fall in value.
Potentially lower rewards
1
2
3
Potentially higher rewards
4
5
6
7
• This risk and reward indicator is based on historical
data which may not be a reliable indication of the
fund's risk and reward category in the future.
• The category is based on the rate at which the value
of the fund has moved up and down in the past.
• This fund is in category 1 because it invests with
banks and other financial institutions which
generally provide lower rewards and lower risks
than other investments such as bonds, commercial
property or company shares.
• The fund's category is not guaranteed to remain the
same and may change over time.
• Even a fund in the lowest category is not a risk free
investment.
• The value of your investment may fall as well as rise
and is not guaranteed. You might get back less than
you invested.
• When interest rates are low and the fund’s income is not
enough to pay charges, the fund’s capital will be used
instead. This may reduce the potential for growth or
cause the value of the fund to fall.
• The fund has money on deposit with companies such as
banks or other financial institutions. If these companies
experience financial difficulty, they may be unable to pay
back some or all of the interest, original investment or
other payments that they owe. If this happens, the value
of your fund may fall.
• If you use your right to cancel your investment, you may
not get a full refund if the value of your investment falls
before we receive your instruction.
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
None
The entry and exit charges shown are maximum figures.
In some cases (including when switching to other funds
managed by us) you might pay less - you can find out the
actual figures from us or your financial adviser.
The ongoing charges figure is based on the latest
available expenses at December 2013. This figure may
vary from year to year.
Ongoing charges exclude the costs associated with
buying and selling the underlying investments of the
fund.
This fund’s charges include the charges made by any
other funds it may invest in.
For more information about charges, including any
performance fee and how it is calculated, please see the
charges and expenses and, where relevant, the
performance fee section in the fund’s Prospectus. You
can also find information about charges at
legalandgeneral.com/chargesandfees
Exit charge
None
This is the maximum that might be taken out of your money
before it is invested.
CHARGES TAKEN FROM THE FUND OVER A YEAR
Ongoing charges
0.65%
CHARGES TAKEN FROM THE FUND UNDER CERTAIN
SPECIFIC CONDITIONS
Performance fee
None
PAST PERFORMANCE
• Past performance is not a guide to future
performance.
6
• The figures take into account all charges
except any entry charge, and assume
income (after tax) is reinvested. The
performance has been calculated in
Sterling (British pounds).
4.3%
(return %)
4
3.2%
3.4%
3.7%
3.4%
2
0.5%
• The annual return is for a 12 month
period ending 31 December.
0.1%
0
0.0%
0.0%
-0.2%
2012
2013
-2
2004
2005
2006
2007
2008
2009
2010
2011
• The fund, and this R class, came into
existence in 1992.
(year)
PRACTICAL INFORMATION
TRUSTEE
The trustee is National Westminster Bank Plc.
FURTHER
INFORMATION
You can find further information about the fund in its Prospectus, latest annual and half-yearly reports and
in the Additional Fund Information document. A Guide to Investing with Us gives further information about
investing generally. These documents are available from: Legal & General Investments, PO Box 6080,
Wolverhampton WV1 9RB. We will provide documents free of charge and in English.
UNIT PRICES AND
OTHER PRACTICAL
INFORMATION
You can get other practical information, including the latest buying and selling prices of units 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. You can also find these prices at legalandgeneral.com/utprices and details of how
we price units in A Guide to Investing with Us.
TAX
UK tax legislation may have an impact on your personal tax position.
Legal & General (Unit Trust 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.
This fund is authorised in the UK and regulated by the Financial Conduct Authority.
This key investor information is accurate as at 17 February 2014.
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 this fund. You are advised to read it so you can make an
informed decision about whether to invest.
Artemis Income Fund
Class I Distribution Units [ISIN: GB00B2PLJJ36], I Accumulation units [ISIN: GB00B2PLJH12]
The fund is managed by Artemis Fund Managers Limited.
Objectives and investment policy
Objective: The fund aims to increase the value of units and
the income paid from them over the long term.
Policy:
• The fund will principally invest (a minimum of 80%) in the
shares of companies listed, quoted or traded in the UK.
• The fund has discretion in its choice of investments, and
is not restricted by the size of the company, the industry it
trades in, or the geographical spread of the portfolio.
• 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.
• The fund may invest in preference shares. These are
investments (issued by a company) that pay a fixed level
of income. The income is paid as a dividend rather than
interest and must be paid before any income from the
company’s other non-preference shares.
• The fund may invest in convertible bonds. These
are investments (issued by a company) that can be
exchanged for ordinary shares of the same company
according to the terms specified when the bond
was issued.
• The fund may invest in derivatives (financial instruments
whose value is linked to the expected price movements
of an underlying asset) to protect the value of the fund,
reduce costs and/or generate additional income.
Other information:
• Investment in the fund should be regarded as a medium to
long-term investment.
• Class I units are only available to investors at Artemis
Fund Managers Limited’s discretion.
• You can buy and sell units Monday to Friday, except
on UK Public holidays, each week.
• Transactions are processed at 12 noon and we will
include your instruction to buy or sell units if it is received
before that point.
• If you hold accumulation units any income the fund
receives is reinvested into the fund and automatically
reflected in the value of the units.
• If you hold distribution units any income the fund receives
can be paid out to you.
For further explanation of some of the terms used above,
please visit our website artemis.co.uk to view a glossary
of terms.
Risk and reward profile
Typically lower rewards
Typically higher rewards
Lower risk
1
2
Higher risk
3
4
5
6
7
• This indicator is based on historical data and 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 indicator is not a measure of the possibility of losing
your investment.
The risk indicator for the fund is as above because:
• The price of units, 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.
• Investments in fixed interest securities are subject to
market and credit risk and will be impacted by movements
in interest rates. Interest rate movements are determined
by a number of economic factors, in particular market
expectations of future inflation.
• The fund can invest in higher-yielding bonds, which may
increase the risk to your capital due to a higher likelihood
of the company issuing the bonds failing to pay returns on
investments. Changes to market conditions and interest
rates can have a larger effect on the values of higheryielding bonds than other bonds.
Charges for the fund
• 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.
• The entry charge is included in the purchase price of each
unit.
• At present, there is no exit charge.
• The entry and exit charges shown are maximum figures.
•
•
One-off charges taken before or after you invest
Entry charge
1.00%
Exit charge
0.00%
This is the maximum that might be taken out of your
money before it is invested.
•
Charges taken from the fund over a year
Ongoing charges
0.79%
•
Charges taken from the fund under certain specific
conditions
Performance fee
None
In some cases (including when switching to other funds
run by Artemis Fund Managers Limited) you might pay
less – you can find out actual entry and exit charges from
your financial adviser.
The ongoing charges figure is based on the expenses
for the year ending 31 December 2013.
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 units in another collective
investment undertaking.
To provide levels of income consistent with the fund’s
aims, we take the annual management charge from
capital. This will restrict the increase in the value of units.
For more information about charges, please see
pages 14 to 16 / section 15 of the fund’s prospectus,
which is available at www.artemis.co.uk.
Past performance
In the period to 7 March 2008, past performance
is represented by the fund’s R class units.
30%
23.9%
Percentage change
24.6%
21.6%
18.8%
20% 16.6%
14.9%
12.5%
10%
2.0%
0.7%
0%
-10%
• This fund was launched on 6 June 2000.
• The class I units were launched on 7 March 2008.
• How the fund has performed in the past is not a guide to
how it will perform in the future.
• Past performance in the chart shown includes all charges
except entry charges.
• This past performance chart is calculated using the
performance of distribution units.
• Performance is calculated in sterling.
-20%
-30%
-22.7%
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Practical information
• The Trustee of the fund is National Westminster Bank plc.
• Further information about the 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 units, at
artemis.co.uk or by phoning 0800 092 2051.
• UK tax legislation 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.
AIID
• You can switch your investments between funds or types
of unit in the Artemis range. For further information,
please refer to the prospectus, artemis.co.uk or phone
0800 092 2051.
• 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
31 December 2013.
䊴
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.
FTSE All-Share Index Fund
Retail Income GB0000424886
A sub-fund of HSBC Index Tracker Investment Funds, an open ended investment company (“OEIC”), managed by HSBC Global
Asset Management (UK) Limited.
Objectives and investment policy
䊳
䊳
䊳
䊳
䊳
䊳
䊳
Risk and reward profile
To provide long term capital growth by matching the return of the
FTSE All-Share Index.
To invest in companies that make up the FTSE All-Share Index.
The Fund can use borrowing and may also use a technique known
as efficient portfolio management which aims to reduce risk or cost
to the fund in circumstances where this is likely to be of benefit.
The Fund is currently tracking the FTSE All-Share Index by fully
replicating the FTSE 350 ex Investment Trusts index and sampling
the remaining benchmark index constituents.
Income is distributed.
You may sell your investment on any business day by contacting
the administrator before the dealing deadline.
Recommendation: this Fund may not be appropriate for investors
who plan to withdraw their money within 5 years.
Lower risk
Higher risk
Typically lower rewards
1
2
Typically higher rewards
3
4
5
6
7
More about this rating
The rating is based on price volatility over the last five years, and is
an indicator of absolute risk. Historical data may not be a reliable indication
for the future. The value of an investment, and any income from it,
may fall as well as rise, and you may not get back the amount you
originally invested. The rating is not guaranteed to remain unchanged
and the categorisation may shift over time.The lowest rating does not
mean a risk-free investment.
Why is this fund in category 6?
Equity prices tend to fluctuate more than other asset classes as investors
directly participate in underlying companies and their earnings.
Material risks not adequately captured by the risk rating above
䊳 Exchange rate risk Investing in assets denominated in a currency
other than that of the investor’s own currency perspective exposes
the value of the investment to exchange rate fluctuations.
䊳 Derivative risk The value of derivative contracts is dependent upon
the performance of an underlying asset. A small movement in the
value of the underlying can cause a large movement in the value
of the derivative. Unlike exchange traded derivatives, over-the-counter
(OTC) derivatives have credit risk associated with the counterparty
or institution facilitating the trade.
䊳 Index Tracking risk The performance of the Fund may not match
the performance of the index it tracks because of stock selection,
fees and expenses, market opening times and regulatory constraints.
䊳 Operational risk The main risks are related to systems and process
failures. Investment processes are overseen by independent risk
functions which are subject to independent audit and supervised
by regulators.
Retail Income GB0000424886
1 of 2
Charges for this fund
The charges you pay are used to pay the running costs of the fund, including
the marketing and distribution costs.These charges reduce the potential
growth of the investment.
0.00%
Exit charge
0.00%
Charges taken from the fund over a year
Ongoing charge
0.27%
Charges taken from the fund under certain specific conditions
Performance fee
Depositary
State StreetTrustees Limited, 525 Ferry Road, Edinburgh, EH5 2AW.
Further information
Further information about the OEIC including the latest Prospectus,
latest published prices of shares, annual report and half yearly report
may be obtained free of charge, in English, from the administrator,
HSBC Global Asset Management (UK) Limited, PO Box 6189, Coventry,
CV3 9HS or by visiting www.assetmanagement.hsbc.com.The most
recent Prospectus is available in English. This document describes
a single share class of the OEIC. The Prospectus, annual and half
yearly reports are prepared for the entire OEIC.
One-off charges taken before or after you invest
Entry charge
Practical information
None
The ongoing charges figure is based on last year’s expenses for the
year ending 15/11/2013. Charges may vary from year to year.
Share classes
Other share classes are available, as detailed in the Prospectus. It
is possible to convert your shares into a different share class or switch
your shares into a different Fund within the OEIC. Details of how
to do this are in the Prospectus (please note an initial charge may
apply).
Further information on Charges can be found in the Fees and Expenses
section of the full Prospectus.
Tax
UK tax legislation may have an impact on your personal position.
Past performance
Authorised Corporate Director
HSBC Global Asset Management (UK) 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 OEIC.
The Entry and Exit charges shown are the maximum that may be charged.
In some cases you may pay less.You can obtain the actual charges from
your financial adviser.
40%
28.7 30.1
30%
20.7 22.0
20%
20.2 20.8
16.0 16.8
14.7 14.5
11.8 12.8
10%
Allocation of Assets and Liabilities
The OEIC is an umbrella investment company with segregated liability
between sub-funds. This means that the holdings of one sub-fund
are kept separate from the holdings of the other sub-funds and your
investment in the Fund cannot be used to pay the liabilities of any
other sub-fund.
12.6 12.3
4.3 5.3
0%
-4.8 -3.5
-10%
-20%
-30%
Fund
Authorisations
The Fund is authorised in the United Kingdom and regulated by the
Financial Conduct Authority. HSBC Global Asset Management (UK)
Limited is authorised in the United Kingdom and regulated by the
Financial Conduct Authority.
-29.8-29.9
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Benchmark
Warning: the performance returns before the change in investment
objective(s) on 22/01/2007 were achieved under circumstances that no
longer apply.
Past performance is not a guide to future performance; the value of
your investment and any income from it can go down as well as up.
The past performance of this share class is calculated in GBP.
Performance returns are based on the net asset value with distributable
income reinvested. Past performance takes account of all ongoing charges,
but not entry and exit charges.
The fund was launched on 26/03/1990.
The investment benchmark for the fund is the FTSE All Share Gross.
Retail Income GB0000424886
2 of 2
Publication date
This key investor information is accurate as at 25 June 2014.
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.
18 February 2014
JOHCM Continental European Fund
B GBP
IE0031005436
A sub-fund of J O Hambro Capital Management Umbrella Fund plc
Managed by J O Hambro Capital Management Limited
Objectives and investment policy
• The primary investment objective of the Fund is to seek long-term
capital growth.
• The Fund aims to achieve its objective by investing in equity
securities of companies domiciled or exercising the predominant
part of their economic activities in Europe, excluding the UK.
• Any income the Fund generates for this share class will be
reinvested annually to grow the value of your investment unless
the shareholder elects for a cash dividend.
• You can buy and sell shares in the Fund, before 5.30pm, on
any day which is a working day in Dublin.
Risk and reward profile
你 Lower risk
Higher risk 佡
你 Typically lower rewards
1
2
3
Typically higher rewards 佡
4
5
6
7
• The risk and reward indicator is calculated on the basis of the
share class volatility (the ups and downs in its value) over the
prior 5 year period.
The risk and reward indicator:
• is based on historical data and may not be a reliable indication
for the future;
• is not guaranteed and may change over time.
• The lowest category does not mean that a share class is risk
free.
The share class category reflects the following factors:
• Higher volatility can result from investments in shares as their
value may fluctuate more than other financial instruments, such
as bonds.
• The Fund may invest in shares priced in currencies other than
the currency of the share class. This may result in the value of
the share class increasing or decreasing due to changes in foreign
exchange rates.
• Your initial investment is not guaranteed.
In addition to the risk captured by the indicator, the fund value
may be affected by:
• Changes in exchange rates between currencies may cause the
value of the investments to diminish or increase.
• Any change in the Company’s tax status or in legislation could
affect the value of investments held by the Company.
• Political and /or regulatory Risks.
• Investors should note that a more detailed description of risk
factors is set out in full in the Prospectus.
Charges
One off charges taken before or after you invest
Entry charge
5.00%
Exit charge
0.00%
This is the maximum that might be taken out of your
money. Consult your financial advisor or distributor for the
actual amount they may charge.
Charges taken from the fund over a year
Ongoing charge
1.33%
Charges taken from the fund under certain conditions
Performance fee
15.00%
The charges you pay as an investor in the Fund are used to cover
the operational costs of the Fund, including marketing and distribution
costs. These charges reduce the potential growth of your investment.
Ongoing charges are based on figures for the year ended 31
December 2013.
This figure may vary from year to year and does not include Fund
transaction costs.
For more information about charges see the Fund’s prospectus,
available at www.johcm.co.uk.
A performance fee of 15% is payable on the excess if the NAV
outperforms the benchmark on an annual basis. The calculation
is performed daily. Any underperformance is carried forward. This
fee applies to all share classes.
The benchmark is the MSCI Europe ex UK NR Index (net dividends
reinvested).
Past performance
19.2
9.7
16.3
19.4
19.4
28.5
11.7
10%
Past performance is not a reliable guide to future performance.
These performance results include ongoing charges and any
performance fee taken from the Fund but do not include any entry
charges that you might have to pay.
The share class came into existence in 2001.
Past performance has been calculated in GBP.
0%
-10%
-20.3
-20%
-30%
-13.4
Performances (%)
30%
20%
31.6
40%
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
JOHCM CONTINENTAL EUROPEAN FUND - B GBP
Practical information
Depositary: RBC Investor Services Bank S.A., Dublin Branch
J O Hambro Capital Management Umbrella Fund Plc (the “Company”) is structured as an umbrella fund with several sub-funds. The
assets and liabilities of the Fund are segregated from other sub-funds within the umbrella, however, other jurisdictions may not necessarily
recognise such segregation. The prospectus and periodic reports are prepared for the entire Company. This Key Investor Information
document refers to one sub-fund of the Company.
The following information is available free of charge at www.johcm.co.uk:
• The prospectus, annual and semi-annual reports for the Company. Hard copies are available upon written request to the Investment
Manager or the Administrator.
• Information on other share classes of this fund or other sub-funds of the Company.
• Share price.
Further information is available from the administrator, RBC Investor Services Ireland Limited, George’s Quay House, 43 Townsend
Street, Dublin 2, Ireland.
Tax legislation in the Company’s home state (Ireland) may have an impact on your personal tax position. Consult your financial or
professional adviser for more information on taxation.
J O Hambro Capital Management Limited may be held liable solely on the basis of any statement contained in this document that
is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the Company.
The Fund is authorised in Ireland and regulated by the Central Bank of Ireland.
The registered office of the Company is George’s Quay House, 43 Townsend Street, Dublin 2, Ireland
This Key Investor Information is accurate as at 18 February 2014.
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.
Jupiter Strategic Bond Fund
Income Units, ISIN: GB00B2RBBC80, (also representative of Accumulation Units, ISIN: GB00B2RBCS16).
The Manager is Jupiter Unit Trust Managers Limited.
Objectives and investment policy
Risk and reward profile
The objective of the Fund is to pay investors a high income and there
is a possibility that the money invested in the Fund will increase. The
Fund will invest in a variety of bonds, including those issued by
governments and companies, which offer a ‘high yield’. These bonds
tend to pay more income than other bonds but also pose a greater
risk to money invested.
The Risk and Reward Indicator table demonstrates where the Fund
ranks in terms of its potential risk and reward. The higher the rank the
greater the potential reward but the greater the risk of losing money. It
is based on past data, may change over time and may not be a reliable
indication of the future risk profile of the Fund. The shaded area in the
table below shows the Fund’s ranking on the Risk and Reward Indicator.
Convertible Bonds are fixed interest securities which also give the
holder the right to convert into ordinary shares of the company at a
set price at a given date (or given range of dates) in the future. The
value of Convertible Bonds are therefore affected by the ongoing
profits of the company to a greater extent than straight forward fixed
interest securities.
Typically lower rewards,
lower risk
The Fund may also invest in derivatives - these allow the Fund
Manager to track changes in the price of an asset, or ‘basket’ of
assets, for example a corporate bond or an index, without actually
owning it. Derivatives can be used with the aim of benefiting from
the price of an investment falling. The Fund Manager can use
derivatives to gain exposure to a number of different asset classes,
including company shares, financial indices, commodities and
currency exchange rates.
The Fund Manager is able to make their own investment decisions,
is not constrained by any geographical or sector limits and is not
guided by any particular benchmark.
If you select Accumulation Units any income payable by the Fund
will be automatically reinvested and reflected in the price of the units.
If you select Income Units any income payable by the Fund will be
distributed to investors on a regular basis.
Investors are able to buy and sell units during any business day
between 9am and 5.30pm. If you tell us to buy or sell units before
12pm on any business day we will make the transaction on the same
day. If you tell us to buy or sell units after 12pm we will make the
transaction on the following business day.
1
2
3
Typically higher rewards,
higher risk
4
5
6
7
• The lowest category does not mean ‘no risk’. Some risk will still be
present in funds with a risk and reward rating of 1.
• The Fund is in this category as it invests in a wide range bonds issued
by governments and companies, which carry a degree of risk.
• Investments, along with the income they provide, are not guaranteed
and can fall in value. You may get back less than you invest.
• This Fund uses derivatives for investment purposes which may cause
the Fund to fall in value by a large amount.
• Bonds are very sensitive to interest rate changes and it is possible that
bond issuers will not pay interest or return the capital promised. Bonds
can also be 'downgraded' by ratings agencies. All of these events can
reduce the value of bonds held by the Fund and therefore impact
performance.
• The exposure to share price movements in convertible bonds can lead
to more volatility than could be expected from a comparable
conventional corporate bond.
• The Fund Manager can invest a significant portion of the Fund in high
yield bonds (a type of bond which has a low or no rating from a credit
rating agency) and non rated bonds. While such bonds may offer a
higher income the interest paid on them and their capital value is at
greater risk, particularly during periods of changing market conditions.
The level of income will change and is not guaranteed to remain
constant.
• During difficult market conditions there may not be enough investors
willing to buy and sell certain investments. This can have a large impact
on the value of derivative contracts which in turn will impact the value
of the Fund.
• There is a risk that companies providing services such as safe keeping
of assets or acting as counterparty to derivatives may become insolvent,
which may cause losses to the Fund.
• Due to entry charges, you are less likely to see growth, or get back the
amount invested, in the first few years.
• The value of your money will be eroded by inflation.
• Changes to currency exchange rates may cause the value of the Fund
to fall, sometimes by a large amount.
Page 1 of 2.
Charges
The charges you pay are used to pay the costs of running the Fund,
including the costs of marketing and distributing it. These charges
reduce the potential growth of your investment.
One-off charges taken before or after you invest
Entry charge
4.00%
Exit charge
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).
• The ongoing charges figure quoted in this document is based on fees
and expenses for the year to 30/04/2013.
• Further information about charges is available in sections 18 and 19
of the Scheme Particulars which are available from Jupiter on request.
These are the maximum charges that we might take out of your money
before it is invested and before we pay out the sale proceeds of your
investment. In some cases, you might pay less and you should speak
to your financial adviser about this.
Charges taken from the Fund over a year
Ongoing charges
1.49%
Charges taken from the Fund under specific conditions
Performance fee
NONE
Past performance
• You should be aware that past performance is not a guide to future
performance.
• Fund launch date: 02/06/2008.
• Share/unit class launch date: 02/06/2008.
• Performance is calculated in GBP.
• Performance is shown after the effect of ongoing charges but does
not include any entry fees.
• Performance is calculated on a bid to bid basis, with income
reinvested net of basic rate tax.
%
45
40
35
30
25
20
15
10
Fund
2013
2012
2011
2009
0
2010
5
2009
2010
2011
2012
42.5
11.2
4.5
16.1
2013
6.0
Source: FE 2014
Practical information
• Further information can be found by requesting the Scheme Particulars or annual and half-yearly report and accounts which are available
from Jupiter on request by contacting our Customer Services Team on 0844 620 7600. These documents are available in English and are
free of charge.
• Unit prices can be found by visiting the Jupiter website, www.jupiteronline.com.
• The name of the trustee is National Westminster Bank plc. The trustee has delegated the function of custodian to Northern Trust Company.
• Tax law may have an impact on your own tax position. We advise you to take tax advice where necessary.
• Jupiter Unit Trust 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 Scheme Particulars of the Fund.
• Other unit classes are available. Further information is available from Jupiter on request.
• The Fund is authorised and regulated by the Financial Conduct Authority in the UK.
• Jupiter Unit Trust Managers Limited is authorised and regulated by the Financial Conduct Authority in the UK.
5753
This Key Investor Information is accurate as at 20/05/2014.
BUF6
Page 2 of 2.
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 US INDEX TRUST R CLASS
ACCUMULATION ISIN: GB0001981215, DISTRIBUTION ISIN: GB0005141923
This fund is managed by Legal & General (Unit Trust Managers) Limited.
OBJECTIVES AND INVESTMENT POLICY
The objective of this fund is to provide growth by
tracking the performance of the FTSE USA Index.
The fund will invest almost entirely in company shares.
The fund's investments will closely match those that
make up the Index. The Index consists of a broad spread
of US company shares.
The fund may use derivatives (contracts which have a
value linked to the price of another asset) for the
following purposes:
• To help with efficient day to day management.
• To reduce some of the risks of the market.
RISK AND REWARD PROFILE
Lower risk
Higher risk
Potentially lower rewards
1
2
3
Potentially higher rewards
4
5
6
7
• This risk and reward indicator is based on historical
data which may not be a reliable indication of the
fund's risk and reward category in the future.
• The category is based on the rate at which the value
of the fund has moved up and down in the past.
• This fund is in category 6 because it invests in
company shares which generally provide higher
rewards and higher risks than other investments
such as bonds, cash or commercial property.
• The fund's category is not guaranteed to remain the
same and may change over time.
• Even a fund in the lowest category is not a risk free
investment.
• The value of your investment and any income you
take from it may fall as well as rise and is not
guaranteed. You might get back less than you
invested.
If you hold accumulation units, income from
investments held by the fund (dividends) will be
reinvested into the value of your units.
If you hold distribution units, income from investments
held by the fund will be paid out to you (as a dividend).
You can buy or sell units in this fund on any working
day. You need to contact us with your instruction before
3.00pm. This is the time we calculate unit prices for this
fund. If you contact us after 3.00pm, the units will be
bought or sold at the next working day's price.
This fund may not be appropriate for investors who
plan to withdraw their money within five years. This
fund may be appropriate if you would like to build on
an existing portfolio.
The indicator opposite does not take account of the
following risk of investing in the fund:
• If you use your right to cancel your investment, you may
not get a full refund if the value of your investment falls
before we receive your instruction.
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
None
The entry and exit charges shown are maximum figures.
In some cases (including when switching to other funds
managed by us) you might pay less - you can find out the
actual figures from us or your financial adviser.
The ongoing charges figure is based on the latest
available expenses at December 2013. This figure may
vary from year to year.
Ongoing charges exclude the costs associated with
buying and selling the underlying investments of the
fund.
This fund’s charges include the charges made by any
other funds it may invest in.
For more information about charges, including any
performance fee and how it is calculated, please see the
charges and expenses and, where relevant, the
performance fee section in the fund’s Prospectus. You
can also find information about charges at
legalandgeneral.com/chargesandfees
Exit charge
None
This is the maximum that might be taken out of your money
before it is invested.
CHARGES TAKEN FROM THE FUND OVER A YEAR
Ongoing charges
0.82%
CHARGES TAKEN FROM THE FUND UNDER CERTAIN
SPECIFIC CONDITIONS
Performance fee
None
PAST PERFORMANCE
29.9 30.4
30
18.1 18.9
(return %)
20
16.1
8.3
10
2.0
3.6
1.2
1.5
• The figures take into account all charges
except any entry charge, and assume
income (after tax) is reinvested. The
performance has been calculated in
Sterling (British pounds).
17.6 18.8
13.2
2.7 4.2
0.8
0
11.2
2.5
• The annual return is for a 12 month
period ending 31 December.
-10
-20
-15.6
-12.5
• The fund, and this R class, came into
existence in 1992.
-30
2004
2005
2006
2007
2008
• Past performance is not a guide to future
performance.
2009
2010
2011
2012
2013
(year)
Fund
Index
PRACTICAL INFORMATION
TRUSTEE
The trustee is National Westminster Bank Plc.
FURTHER
INFORMATION
You can find further information about the fund in its Prospectus, latest annual and half-yearly reports and
in the Additional Fund Information document. A Guide to Investing with Us gives further information about
investing generally. These documents are available from: Legal & General Investments, PO Box 6080,
Wolverhampton WV1 9RB. We will provide documents free of charge and in English.
UNIT PRICES AND
OTHER PRACTICAL
INFORMATION
You can get other practical information, including the latest buying and selling prices of units 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. You can also find these prices at legalandgeneral.com/utprices and details of how
we price units in A Guide to Investing with Us.
TAX
UK tax legislation may have an impact on your personal tax position.
Legal & General (Unit Trust 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.
This fund is authorised in the UK and regulated by the Financial Conduct Authority.
This key investor information is accurate as at 8 April 2014.
OPTI_GBP_I_UK_K1_EN_UK
29/5/14
12:38
Page 1
Key Investor Information
This document provides you with key investor information about this Fund. It is not marketing
material. The information is required by law to help you understand the 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.
M&G Optimal Income Fund
Sterling Class I – Income shares ISIN no. GB00B1H05601
Sterling Class I – Accumulation shares ISIN no. GB00B1H05718
Managed by M&G Securities Limited, which is part of the Prudential Group
• Any investment in international companies means that currency exchange rate
fluctuations will have an impact on the Fund.
Objective and investment policy
Objective
Income and growth.
Investment policy
At least 50% of investment will be in fixed income securities [investments which
provide a certain level of income or interest] which are issued by companies.
The Fund may also invest in, but is not limited to, the following:
• other funds;
• derivatives (which may be used for hedging purposes).
• Derivatives – The Fund may use derivatives for the purposes of meeting the Fund’s
objective, and protecting the capital value from risk. The Fund may also use
derivatives to generate exposure to investments exceeding the net asset value of
the Fund. This will expose the Fund to a higher degree of risk and may cause your
investment to experience larger than average price fluctuations.
The fund manager has invested or intends to invest more than 35% of the portfolio
in securities issued by one or more of the governments of the UK and the USA. Such
an investment is in the pursuit of the fund objective. The fund manager’s view is
subject to change and as a result the list of governments above may also change,
provided they are permitted in the Fund’s full Prospectus.
• The Fund may take short positions through the use of derivatives which are not
backed by equivalent physical assets. Short positions reflect an investment view
that the price of the underlying asset is expected to fall in value. Accordingly, if this
view is incorrect and the asset rises in value, the short position could involve greater
risk due to the theoretical possibility of an unlimited rise in its value.
[Derivatives are financial instruments whose value is linked to the expected future
price movements of an underlying asset.]
• Some derivative transactions may be entered into directly with an eligible person or
institution (a “counterparty”). There is a risk that the counterparty may not meet its
obligations or becomes insolvent which could cause the Fund to incur a loss.
• company shares;
• cash;
You can buy and sell shares in the Fund on any business day. Provided we receive your
instruction before 12 noon, shares will be bought at that day’s price.
This Fund allows the fund manager to make discretionary choices when deciding
which investments should be held in the Fund.
If you hold income shares, any income from the Fund may be paid out to you.
If you hold accumulation shares, any income from the Fund will be rolled up into the
value of your investment.
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. These tend to be higher
when investing outside Europe.
Risk and reward profile
Low risk
High risk
Typically lower rewards
1
140529123719 UK K1 OPTI GBP I EN UK 0002 0000
• There is a risk that one or more countries will exit the Euro and re-establish their
own currencies. In light of this uncertainty or in the event that this does occur, there
is an increased risk of asset prices fluctuating or losing value. It may also be difficult
to buy and sell securities and issuers may be unable to repay the debt. In addition,
there is a risk that disruption in Eurozone markets could give rise to difficulties in
valuing the assets of the Fund. In the event that it is not possible to carry out an
accurate valuation of the Fund, dealing may be temporarily suspended.
2
Typically higher rewards
3
4
5
6
7
• The above risk number is based on the rate at which the value of the Fund has
moved up and down in the past.
• This risk number is based on historical data and may not be a reliable indicator of
the future risk profile of the Fund.
• The risk number shown is not guaranteed and may change over time.
• The lowest risk number does not mean risk free.
The Fund has the above risk number because of the effect of the following risks:
• The value of stockmarket investments, and the income from them, will fluctuate.
This will cause the Fund price to fall as well as rise and you may not get back the
original amount you invested.
• Fixed income securities – Changes in the interest rate will affect the value of, and
the interest earned from, the fixed income securities held by the Fund. When interest
rates rise, the capital value of the Fund is likely to fall and vice versa.
• The value of the Fund will fall if the issuer of a fixed income security held is unable
to pay income payments or repay its debt (known as a default). A default, expected
default or downgrading will make a fixed income security harder to sell as its value
and income are likely to fall. Fixed income securities that pay a higher level of
income usually have a lower credit rating because of the increased risk of default.
The higher the rating the less likely it is that the issuer will default, but ratings are
subject to change.
• Liquidity – In difficult market conditions the value of certain fund investments may
be less predictable than normal. In some cases this may make such investments
harder to sell at the last quoted market price, or at a price considered to be fair. Such
conditions could result in unpredictable changes in the value of your holding.
• Emerging markets – The Fund can invest in emerging markets which tend to have
larger price fluctuations than more developed countries. The Fund may encounter
difficulties when buying and selling these investments or converting the proceeds
of a sale or any income earned back into the base currency of the Fund.
OPTI_GBP_I_UK_K1_EN_UK
29/5/14
12:38
Page 2
Charges
Past performance
The charges shown in the table 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.
%
40.0
33.2
30.0
One-off charges taken before or after you invest
20.0
Entry charge
1.00%
Exit charge
0.00%
This is the maximum that might be taken out of your money before it is invested.
8.8
10.0
2.7
Ongoing charge
7.7
0.0
(4.0)
(10.0)
2004
Charges taken from the Fund over a year
13.4
6.1
2005
2006
2007
2008
2009
2010
2011
2012
2013
Fund
0.91%
• Past performance is not a guide to future performance.
Charges taken from the Fund under certain specific conditions
Performance fee
None
The entry and exit charges shown are the maximum figures and, in some cases, you
may pay less. You can find out the specific charges which apply to your investment by
contacting your financial adviser, distributor, or by contacting us using the details
given in the practical information section.
• The past performance calculation does not take into account the entry and
exit charges but does take into account the ongoing charge, as shown in the
Charges section.
• The Fund launched on 8 December 2006. The Sterling Class I Accumulation share
class and Sterling Class I Income share class launched on 8 December 2006.
• Past performance is calculated using Sterling Class I Income shares.
The ongoing charge is based on expenses for the year ending 30 September 2013.
This figure may vary from year to year. It excludes performance fees and portfolio
transaction costs (except in the case of an entry / exit charge paid by the Fund when
buying and selling shares in another fund).
For more information on charges, please refer to the relevant sections of the
Prospectus which can be found by visiting www.mandg.co.uk/literature
Practical information
140529123719 UK K1 OPTI GBP I EN UK 0002 0000
The depositary is National Westminster Bank plc.
For further information about this Fund, please visit www.mandg.co.uk/literature where you can obtain a copy of the Prospectus, Instrument of Incorporation, and latest annual
or interim Investment Report and Financial Statements in English, free of charge. Our website also provides other information not contained in the above documents such as
share prices.
This Fund is subject to UK tax laws, which may have an impact on your personal tax position. Please speak to an adviser for further information.
M&G Securities 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.
Other share classes may exist for the Fund as set out in the relevant Prospectus.
This Fund is authorised in the UK and regulated by the Financial Conduct Authority. M&G Securities Limited is authorised in the UK and regulated by the Financial Conduct Authority.
This key investor information is accurate as at 6 June 2014.
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.
Old Mutual Global Strategic Bond Fund A (GBP) Income Shares
(GB00B1XG7L17)
A sub-fund of Old Mutual Investment Funds Series II. The Authorised Corporate Director that manages the Fund is Old Mutual Fund
Managers Limited.
Objectives and investment policy
Risk and reward profile
Objective: A total return comprised of income and capital growth by
investing in bonds and similar debt investments issued by
governments and other public entities located throughout the world.
The Risk and Reward Indicator table demonstrates where the Fund
ranks in terms of its potential risk and reward. The higher the rank the
greater the potential reward but the greater the risk of losing money. It
is based on past data, may change over time and may not be a reliable
indication of the future risk profile of the Fund. The shaded area in the
table below shows the Fund’s ranking on the Risk and Reward Indicator.
Policy: The Fund will invest in bonds and similar debt investments
anywhere in the world. The Fund invests in bonds with high and low
credit ratings (i.e. investment grade and/or sub-investment grade
bonds as rated by Standard and Poor's or similar agencies).
The Fund base currency is sterling. The Fund may gain exposure to
additional currencies in order to generate additional returns though
changes in the exchange rates.
The Fund may also use derivatives (i.e. financial contracts whose
value is linked to the expected price movements of an underlying
investment), with the aim of generating returns and reducing the
overall costs and/or risks of the Fund. The Fund may hold a “negative”
duration position (aiming to benefits from interest rates rising) through
the use of derivatives.
Treatment of income: income from investments will be paid to
shareholders in the form of a dividend (income).
Dealing: you can buy and sell shares on any working day in London.
Typically lower rewards,
lower risk
1
2
3
Typically higher rewards,
higher risk
4
5
6
7
Funds in category 4 have in the past shown moderate volatility. With a
fund of category 4, you have a moderate risk of losing money but your
chance for gains is also moderate.
The category shown is not a target or guarantee and may shift over
time. Even the lowest category 1 does not mean a risk-free investment.
The seven-category scale is nonlinear, for example, 2 is not twice as
risky as 1.
Investment risk - There is no guarantee that the Fund will achieve its
objective.
Recommendation: the Fund may not be appropriate for investors
who plan to withdraw their money within 5 years.
Credit risk - the issuer of a Bond or a similar investment within the Fund
may not pay income or repay capital to the Fund when due. Bonds which
are rated below investment grade are considered to have a higher risk
exposure with respect to meeting their payment obligations.
For full investment objectives and policy details please refer to the
"Investment Objective and Policy" section of Appendix I to the
prospectus.
Interest rate risk - investments in bonds are affected by interest rates
and inflation trends which may affect the value of the Fund.
Liquidity risk – Some investments may become hard to value or sell at
a desired time and price. In extreme circumstances this may affect the
Fund’s ability to meet redemption requests upon demand.
Currency risk - the Fund is denominated in British Pounds but holds
assets denominated in other currencies. The value of your shares may
rise and fall as a result of exchange rate movements between these
currencies.
Derivative risk - Fund may use derivatives to generate returns as well
as to reduce costs and/or the overall risk of the Fund. Using derivatives
can involve a higher level of risk. A small movement in the price of an
underlying investment may result in a disproportionately large
movement in the price of the derivative investment. Derivatives also
involve counterparty risk where the institutions acting as counterparty
to derivatives may not meet its contractual obligations.
Capital erosion risk - The Fund takes its charges from the income of the
Fund in the first instance. The impact of Fund charges may be material
on the value of any income you receive from your investment. There is
potential for capital erosion if insufficient income is generated by the
Fund to cover these charges.
For a more detailed explanation of risks, please refer to the "Risks"
section of the prospectus.
Page 1 of 2.
Charges
The charges you pay are used to pay the costs of running the Fund,
including the costs of marketing and distributing it. These charges
reduce the potential growth of your investment.
One-off charges taken before or after you invest
Entry charge
3.50%
Exit charge
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).
The ongoing charges figure has been calculated as at 31 December
2013.
For more information about charges please refer to the "Fees and
Expenses" section of the prospectus.
These are the maximum charges that we might take out of your money
before it is invested and before we pay out the sale proceeds of your
investment. In some cases, you might pay less and you should speak
to your financial adviser about this.
Charges taken from the Fund over a year
Ongoing charges
1.14%
Charges taken from the Fund under specific conditions
Performance fee
NONE
Past performance
You should be aware that past performance is not a guide to future
performance.
Fund launch date: 26/11/1991.
Share/unit class launch date: 26/11/1991.
Performance is calculated in GBP.
All charges and fees, except any entry charge, have been included
within the performance.
%
25
20
15
10
5
2013
2012
2011
2010
2009
2008
2007
2006
2005
-5
2004
0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Fund
3.0
4.4
-5.0
5.9
23.7 14.1 10.7 3.2
5.2
-1.6
Source: FE 2014
Practical information
The Depositary is National Westminster Bank Plc.
Old Mutual Global Strategic Bond Fund is a sub-fund of Old Mutual Investment Funds Series II. The assets and liabilities of each Fund are
segregated from other sub-funds although it is not yet known whether a foreign court would give effect to segregated liability under a foreign
law contract and so this is not certain in every circumstance.
Further information about the UCITS, copies of its prospectus, annual and half-yearly reports may be obtained, for the entire UCITS, free
of charge in English from the Investor Services Team at Old Mutual Fund Managers Limited, FREEPOST RRYH-XTSY-HEZH, PO Box
10278, Chelmsford, CM99 2AR or visit www.omglobalinvestors.com.
The latest share prices are available from the Investor Services Team during normal business hours and will be published daily at www.
omglobalinvestors.com.
You may switch your shares to the shares of another sub-fund. For further details, and any associated charges see the "Purchase, Redemption
and Switching" section of the prospectus.
This Fund is subject to tax laws and regulations of the United Kingdom. Depending on your home country of residence, this might have an
impact on your personal tax position. For further details, please speak to your adviser.
Old Mutual 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 UCITS.
This Fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority.
Old Mutual Fund Managers Limited is authorised in the United Kingdom and regulated by the Financial Conduct Authority.
This Key Investor Information is accurate as at 06/02/2014.
A3G8
Page 2 of 2.
Key Investor Information
This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you
understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest.
Standard Life Investments UK Equity Income Unconstrained Fund, a Sterling
denominated sub fund of the Standard Life Investment Company II, Platform 1 Accumulation
Shares (ISIN:GB00B79X9673). This fund is managed by Standard Life Investments (Mutual Funds)
Limited.
Objectives and Investment Policy
The fund aims to provide income and some capital growth over the longer
term by investing in UK equities.
The fund may use derivatives to reduce risk or cost or to generate additional
capital or income at low risk, or to meet its investment objective.
The fund typically holds a concentrated portfolio of stocks and may also
hold a proportion in bonds to supplement the income of the fund. The fund
is actively managed by our investment team, who will select stocks, without
reference to index weight or size, to try to take advantage of opportunities
they have identified. Due to the unconstrained nature of the fund investors
must be willing to accept a relatively high degree of stock specific risk.
Any income, for example dividend income, received by the fund will be
reinvested.
Investors in the fund may buy and sell shares on any normal business day.
Recommendation: the fund may not be appropriate for investors who plan
to withdraw their money within five years.
Risk and Reward Profile
Lower risk
Higher risk
Typically lower rewards
1
2
Typically higher rewards
3
4
5
6
7
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.
Where the share class does not have a history of five years, an alternative
share class or a representative benchmark has been used to show how the
fund price may have behaved over the period.
The current rating is not guaranteed and may change if the volatility of the
assets in which the fund invests changes.
The lowest rating does not mean risk free.
The fund is rated as {6} because of the extent to which the following risk
factors apply:
(a) The fund invests in securities which are subject to the risk that the
issuer may default on interest or capital payments.
(b) The fund price can go up or down daily for a variety of reasons including
changes in interest rates, inflation expectations or the perceived credit
quality of individual countries or securities.
(c) The fund invests in equity and equity related securities. These are
sensitive to variations in the stock markets which can be volatile and
change substantially in short periods of time.
(d) A concentrated portfolio may be more volatile than a more broadly
diversified one.
(e) The fund's investments are concentrated in the UK. This may result in
greater volatility than portfolios which are more geographically
diversified.
(f) Investing in derivatives carries the risk of substantial loss and / or
increased volatility in adverse market conditions.
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 shares 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.
The fund could lose money as the result of a failure or delay in operational
processes.
Charges
The charges you pay are used to pay the costs of running the fund including
marketing and distributing it. These charges reduce the potential growth of
your investment.
One off charges taken before or after you invest
Entry charge:
Exit charge:
0.00%
0.00%
This is the maximum that might be taken out of your money before it is
invested/before the proceeds of your investment are paid out.
Charges taken from the fund over a year
Ongoing charges:
1.15%
The entry and exit charges shown are maximum figures. In some cases you
might pay less - you can find this out from your financial adviser.
The ongoing charges figure reflects the amount based on expenses for the
year ending 31/10/2013. This figure may vary from year to year. It excludes:
performance fees (where applicable); portfolio transaction costs, except in
the case of an entry/exit charge paid by the fund when buying or selling in
another collective investment undertaking.
A switching charge may be applied in accordance with the Prospectus. For
more information about charges please see Prospectus.
For more information about charges, please see the Prospectus which is
available at www.standardlifeinvestments.com.
Charges taken from the fund under certain specific conditions
Performance Fees:
None
Past Performance
Standard Life Investments UK Equity Income Unconstrained Fund, Platform
1 Accumulation Shares, 31 December 2013
Performance has been calculated over the stated period based on the share
price of this share class.
% Returns
40
Past performance is not a guide to future performance
38.4
The fund was launched in 2007. The share class was launched in 2012.
35
The performance of the share class is calculated in Sterling.
30
25
20
15
10
5
0
-5
2009
2010
2011
Year
2012
2013
Source: Standard Life Investments
Practical Information
Name of Depositary: Citibank International plc, Citigroup Centre, Canada
Square, Canary Wharf, London E14 5LB.
Standard Life Investment Company II is an umbrella structure comprising a
number of different sub funds, one of which is this fund.
Further information about Standard Life Investment Company II
(Prospectus, report & accounts) can be found at
www.standardlifeinvestments.com, where documents may be obtained free
of charge.
This document is specific to the fund and share class stated at the
beginning of this document. However, the Prospectus, annual and halfyearly reports are prepared for the entire umbrella.
Other practical information (e.g. where to find latest share prices) can be
found in documents held at www.standardlifeinvestments.com.
Prospective investors should consult their own professional advisers on the
potential tax consequences of acquiring, holding or selling shares.
Standard Life Investments (Mutual Funds) Limited may be held liable solely
on the basis of any statement contained in this document that is
misleading, inaccurate or inconsistent with the relevant parts of the
Prospectus for the Standard Life Investment Company II.
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 II 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 Standard Life Investment Company II. For further information please
refer to the prospectus (section on 'Switching') which can be found at
www.standardlifeinvestments.com.
Other share classes are available in the fund and further information about
these can be found in the Standard Life Investment Company II Prospectus.
The Standard Life Investment Company II and Standard Life Investments (Mutual Funds) Limited are authorised in the United Kingdom and regulated by
the Financial Conduct Authority. This Key Investor Information is accurate at 7/3/2014
Standard Life Investments Limited is registered in Scotland (SC123321) at 1 George Street Edinburgh EH2 2LL and is authorised and regulated by the Financial Conduct Authority.
KIID_UQ_32_Acc_N_GBP_GB_EN_07032014
Document info
Form
43710
Job ID
41695
Size
A4
Pages
12
Colour
CMYK
Version
NOVEMBER 2013
Operator info
1
ALI 28/06/13
2
ALI 21/10/13
3
ALI 05/12/13
4
ALI 09/12/13
5
6
7
8
9
10
11
SWIP / KEY FEATURES
12
(INCORPORATING THE SIMPLIFIED PROSPECTUS)
15
OF THE SCOTTISH WIDOWS INVESTMENT PARTNERSHIP
PROPERTY TRUST
November 2013
The Financial Conduct Authority is the independent financial services regulator. It requires us, SWIP Fund Management Limited, as
the manager of the Scottish Widows Investment Partnership Property Trust, to give you this important information to help you to
decide whether our product is right for you. You should read this document carefully so that you understand what you are buying,
and then keep it safe for future reference.
13
14
KEY FEATURES, INCORPORATING
A SIMPLIFIED PROSPECTUS OF THE
SCOTTISH WIDOWS INVESTMENT
PARTNERSHIP PROPERTY TRUST
(SWIP PROPERTY TRUST)
CONT
Aims, Investme
Your Questions
These Key Features give you important
information about our Property Trust.
These Key Features also incorporate
Simplified Prospectus requirements.
The Simplified Prospectus has been
created as a result of European
legislation to help people make an
informed choice between funds offered
by different companies. It does this by
allowing comparison of the total
expense ratio (TER), the past
performance of individual funds and the
portfolio turnover rate (PTR).
The Simplified Prospectus does not
replace the full Prospectuses which
contain full terms and conditions. This is
available on request free of charge.
The information in these Key Features
is correct as at November 2013.
For details of other funds we have
available please speak to your
financial adviser.
Fund Details
Other Informat
CONTENTS
Aims, Investment and Risks
2
Your Questions Answered
3
Fund Details
6
Other Information
8
SWIP PROPERTY TRUST KEY FEATURES NOVEMBER 2013
1
AIMS, INVESTMENTS AND RISKS
Its aims
Risks
The Trust aims to provide investors with
a combination of income and growth of
capital consistent with a balanced
commercial property portfolio.
What are the risks of investing in
this fund?
Your investment
In respect of Class A Share class you
must invest a lump sum premium of at
least £5,000. The minimum additional
investment is £1,000. For further share
classes see Prospectus.
You should consider the Trust as a
medium to long-term investment, and
you should aim to keep your
investment for at least five years.
The SWIP Property Trust is an
authorised unit trust scheme established
under COLL (the new Collective
Investment Scheme Source Book) and is
authorised and regulated by the
Financial Conduct Authority (FCA).
The Trust was established on
22 October 2004 and was authorised on
24 October 2004.
The Trust is priced on a single pricing
model (meaning subject to an SDRT
provision or initial charge) there is one
price at which you will buy and sell
units on any given day. The manager
operates on a “swinging single price”
basis. For more details see section on
“Dilution Adjustment”. You have a
choice of two classes of unit.
These are:
income units – these pay you the
income they earn, rather than
reinvesting it.
accumulation units – these reinvest
any income earned by the Trust
within the Trust.
2
There are some general risks of
investing in funds like the SWIP
Property Trust, and also some specific
risks you should be aware of.
These include:
The Trust invests in physical property
and may experience difficulties or
delays in selling these assets.
As a result, very occasionally there
may be constraints on cashing
in units.
Commercial property is a less liquid
asset than other asset classes such
as bond or equities and values could
be affected if properties need to be
sold in a short timescale. It is
a specialist sector which could be
volatile in adverse market conditions.
Property valuation is a matter of
judgement by an independent valuer.
Valuation is therefore generally
a matter of a valuer’s opinion rather
than fact. The value of capital and
income will fluctuate as property
values and rental income rise and fall.
If the value of the Trust falls
significantly, it may not be possible
to maintain the same diversification
of risk, as there may be fewer
properties held.
The value of investments and the
income you receive may fall and you
may get back less than you put in.
Inflation will reduce the value of any
investment gains. If your investment
grows by less than the rate of
inflation it will have less buying power
in the future.
SWIP PROPERTY TRUST KEY FEATURES NOVEMBER 2013
QUES
Governments can change the tax
rules relating to individuals and funds.
Derivatives transactions will be used
for the purposes of efficient portfolio
management, hedging and to meet
the investment objectives of the
Fund. Derivatives may be exchange
traded or Over the Counter (OTC)
derivatives.
The Trust may invest in overseas
property. Changes in exchange rates
between currencies may result in the
value of the investments and / or the
income from them fluctuating.
If you use your right to cancel your
investment in the first 30 days, and the
value of your investment has fallen
when we receive your notice of
cancellation, you may not get back the
full amount of your original investment.
Details of all the risks referred to above
may be found in the full Prospects.
What is a
A unit trust is a
scheme where
with that of oth
investments.
The Trust is div
known as units
in the Trust by
price of a unit is
the underlying i
Who is th
The Manager o
Trust is SWIP F
Limited.
How do I
Trust?
You can buy u
contacting o
0800 33 66
returning a c
form to eithe
Fund Manag
Mellon Hous
Brentwood,
The minimum in
Class A units o
and the minimu
is £1,000. Furth
classes availab
Prospectus.
You can buy u
between 8:30a
(UK time). Units
price calculated
point (12 noon
receive your ins
We will send yo
detailing the nu
and the price. F
settlement and
units will be rec
register. You w
and your entry
conclusive evid
QUESTIONS AND ANSWERS
ge the tax
als and funds.
s will be used
cient portfolio
and to meet
es of the
be exchange
nter (OTC)
overseas
xchange rates
ay result in the
s and / or the
uating.
ncel your
days, and the
has fallen
tice of
get back the
al investment.
rred to above
Prospects.
What is a Unit Trust?
A unit trust is a collective investment
scheme where your money is pooled
with that of other investors to buy
investments.
The Trust is divided into segments
known as units. Investors take a stake
in the Trust by buying these units. The
price of a unit is based on the value of
the underlying investments of the Trust.
Who is the Manager?
The Manager of the SWIP Property
Trust is SWIP Fund Management
Limited.
How do I invest in the
Trust?
How can I sell my
holdings?
You can sell your units by contacting
our dealers on 0800 33 66 00 or in
writing. The selling price of the units will
be the price calculated at the next
valuation point (12 noon UK time) after
we receive your instructions. Minimum
holding limits as detailed in the
Prospectus may apply.
We will send a contract note to you once
the price has been calculated, and we
will send you the proceeds within four
business days after the day we receive
your written instructions. In the case of
telephone instructions settlement will be
made on the receipt of a completed form
of renunciation which is issued with the
contract note. You will not incur a charge
to you when redeeming the units.
You can buy units in the Trust by:
contacting our dealers on
0800 33 66 00;
returning a completed application
form to either your adviser or to SWIP
Fund Management Limited, BNY
Mellon House, Ingrave Road,
Brentwood, Essex, CM15 8TG.
The minimum initial investment into the
Class A units of the Trust is £5,000
and the minimum additional investment
is £1,000. Further details of other unit
classes available can be found in the
Prospectus.
You can buy units on any business day
between 8:30am and 5:30pm
(UK time). Units are purchased at the
price calculated at the next valuation
point (12 noon UK time) after we
receive your instructions.
We will send you a contract note
detailing the number of units purchased
and the price. Following receipt of
settlement and full registration details, the
units will be recorded on the unit holder
register. You will not receive a certificate
and your entry on the register is
conclusive evidence of title to your units.
Conversion of units
It is possible for a unitholder to switch
all or some of their units held in the
Trust for units in a different class,
subject to certain restrictions.
Full details can be found in the
Prospectus. A conversion of units in
one Class for units in another Class in
relation to the same Trust will not
normally be treated as a realisation for
UK tax purposes.
What is the value of my
investment based on?
Your investment buys units in the SWIP
Property Trust. The value of each unit is
equal to the underlying net asset value
of the Trust’s investments divided by
the number of units in issue.
The SWIP Property Trust is priced on
single pricing model. Under a single
pricing model only one price is
calculated each day and, subject to any
SDRT and initial charge, investors buy
and sell units at the same ‘single’ price.
The single price of the units on any
given day is based, generally, on the
mid-market valuation of the underlying
assets held by the Fund and is
calculated in accordance with the
provisions of the trust deed (as
amended) and the Prospectus.
Dilution adjustment
The inherent costs of buying and selling
property assets are substantial. The
costs of buying a property include
stamp duty up to 5% and legal and
valuation fees. The costs of selling a
property include legal and marketing
costs. Therefore, the actual costs of
purchasing or selling investments may
be higher or lower than the mid-market
price of the fund and may adversely
affect existing investors. This is called
“dilution”. The Fund Manager may
offset the effects of dilution by making
an adjustment to the share price, called
a dilution adjustment, to take account
of the dealing costs so that existing and
continuing investors are not adversely
affected by the effects of dilution.
The Fund manager will use its
discretion to apply dilution adjustment
to either increase or decrease the share
price when it is of the view that it is
appropriate to do so in the interests of
continuing investors. Further details see
swip.com and the Prospectus.
The Trust’s assets are valued at
12 noon (UK time) on each business
day. We also have the right to carry out
additional valuations, in accordance
with the FCA rules. Full details can be
found in the Prospectus.
SWIP PROPERTY TRUST KEY FEATURES NOVEMBER 2013
3
What is Efficient Portfolio
Management?
Efficient Portfolio Management (EPM) is
a term used to describe derivative use
within the Trust. Under EPM, the reason
for using the derivative is usually one of
the following: reducing risk; reducing
cost; or generating additional capital or
income for the fund with an acceptably
low level of risk. EPM strategies are not
usually speculative in nature.
The Prospectus outlines in more detail
the extent derivatives may be used.
Where can I find the
latest prices?
You can find unit prices:
on the SWIP website www.swip.com.
by calling 0800 33 66 00.
You will be sent half-yearly statements
as at 31 January and 31 July each year
giving details of your investment and any
transactions during the period. You will
also receive a report on the activity of
the Trust every 6 months. The annual
report will be published within 4 months
after the end of the annual accounting
period (31 January). Half yearly reports
will be published within two months after
the end of the half yearly accounting
period (31 July).
Will I receive an income?
You can choose either income units or
accumulation units.
If you invest in accumulation units, you
will not receive an income payment
from your investment. Any income
generated by the Trust will be reflected
in an increase in the value of the units.
If you choose income units, payment of
the income earned by the Trust will be
paid to you. Payment of income will
normally be made by direct credit to
your bank or building society account,
but may be made by cheque.
4
What about tax?
The tax regime applicable is that of the
United Kingdom. This regime applies to
the taxation of both income and capital
gains within the Trust.
The Trust is not subject to any UK
taxation on any capital gains made on
the sale of investments held in the Trust
and pays income tax at a special rate.
The Trust may be liable to Stamp Duty
Reserve Tax (SDRT), chargeable at
a rate of 0.5%, on the surrender of
units, and on certain transfers of units,
it is usually paid for out of the scheme
property of the Trust.
Tax rules can change, and your own
taxation treatment can be affected by
changes to your individual
circumstances.
The following information is only a guide
for individuals. We are unable to give
specific tax advice and if you are
uncertain of your tax position, you should
get professional advice. This information
reflects our interpretation of the law and
HM Revenue & Customs practice at the
time of publication. The amount of
taxation of benefits we describe assumes
that there is no change in tax or laws that
affect SWIP or its investments.
For funds that make interest
distributions, we deduct income tax
at 20% before we pay the income, or
keep the income, of the fund. (If you
are not a taxpayer, you may be able
to reclaim some or all of this tax.)
For funds that don’t make interest
distributions, dividend distributions
are made net of a 10% tax credit.
This credit can’t be reclaimed.
If you’re a basic rate taxpayer,
regardless of the funds you invest in
this Trust, you have no further tax
to pay.
SWIP PROPERTY TRUST KEY FEATURES NOVEMBER 2013
If you’re a higher-rate taxpayer, you
have a further tax liability. The extra
tax is currently no more than 25% of
the income paid out of or kept in the
fund.
Annual manage
If you’re an additional rate taxpayer,
you have a further tax liability.
The extra tax is currently no more
than 36.1% of the income paid out of
kept in the fund.
These include
We send investors a tax voucher
showing the amount of the distribution
and the tax. You must declare any
dividend distributions to HM Revenue
& Customs.
When you cash in some or all of your
shares, you may have to pay Capital
Gains Tax on any gain you make.
This depends on whether the gain,
together with any other gains you have
made in the tax year, comes to more
than the personal annual exemption
limit. We have no responsibility for
deducting Capital Gains Tax before we
pay out any investments you cash in.
When you die, the value of your
investment forms part of your estate for
inheritance tax purposes. The money
will remain invested until we receive
instructions from your legal
representatives. Your Trust investments
must be declared to HM Revenue
& Customs.
What are the charges
and expenses?
Transaction charges
Initial charge
This is a percentage of your initial
investment. Income, when reinvested,
is not subject to an initial charge.
Annual operating expenses
These represent the amount paid out
of the Trust each year.
A charge for
managemen
Additional expe
fees for lega
or other advi
registration c
brokers’ com
interest on b
Can the m
the initial
managem
We are permitt
and annual ma
the maximum s
If we do this, w
any changes to
the FCA rules.
Scottish Widow
Property Trust
request from th
Client mo
In exceptional c
it is not possib
allocated to yo
your investmen
it is not possib
you for any red
be transferred
account pendin
transaction. Th
accordance wit
rules. By segre
client bank acc
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investors shou
during this pen
will be paid on
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xpayer, you
y. The extra
than 25% of
or kept in the
ate taxpayer,
ability.
y no more
me paid out of
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e distribution
clare any
HM Revenue
or all of your
pay Capital
u make.
the gain,
ains you have
mes to more
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sibility for
Tax before we
you cash in.
of your
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The money
we receive
al
st investments
Revenue
arges
our initial
n reinvested,
charge.
nses
unt paid out
Annual management charge
A charge for the day-to-day
management of the fund.
Additional expenses
These include costs such as:
fees for legal, accountancy
or other advice;
In the event that there has been no
contact from you for 6 years, despite
our reasonable attempts to contact you,
any money held for you in a client money
account will cease to be treated as
client money. Should you subsequently
contact us and make a valid claim, we
will reimburse the money to you. No
interest will be due on this money.
registration costs;
brokers’ commissions;
interest on borrowings.
Can the manager vary
the initial and annual
management charges?
We are permitted to increase the initial
and annual management charges up to
the maximum set out in the Prospectus.
If we do this, we will give you notice of
any changes to our charges in line with
the FCA rules. The Prospectus for the
Scottish Widows Investment Partnership
Property Trust is available free on
request from the Manager.
Client money
In exceptional circumstances, where
it is not possible for units to be
allocated to you following receipt of
your investment instruction, or where
it is not possible to send money to
you for any redemptions, money will
be transferred to a client money bank
account pending completion of the
transaction. This money will be held in
accordance with the FCA’s client money
rules. By segregating the money in the
client bank accounts from our own
capital, this has the effect of protecting
investors should we become insolvent
during this pending period. No interest
will be paid on money held in these
client money bank accounts.
How will the charges and
expenses affect the
return on my investment?
The total charges deducted for each
fund will reduce what you get back from
your investment. You could get back
less than you invested if the investment
performance is less than the charges.
Can I cancel my
investment?
If you received financial advice, you will
normally receive a cancellation notice
when the deal is placed. This gives you
the right to cancel your original
investment at any time during the first
30 days after you receive it. If you
decide to change your mind, we will
refund your money. You may receive
back less that your original investment
if the value of units has fallen when we
receive your cancellation notice.
If you are entitled to cancellation rights,
you may exercise this right by
completing the cancellation form sent
to you and returning it by post to SWIP
Fund Management Limited, BNY Mellon
House, Ingrave Road, Brentwood,
Essex CM15 8TG. If you don’t cancel
your investment it will continue.
Where can I get further
information about the
trust?
You should contact Scottish Widows
Investment Partnership Limited,
Edinburgh One, Morrison Street,
Edinburgh, EH3 8BE for additional
information about the Trust.
To request a copy of the Prospectus or
half yearly reports you can contact us
on 0800 33 66 00 or look on our
website www.swip.com.
If you received advice from a financial
adviser, they will also be able to provide
you with additional information.
How much will any
advice cost?
If you have an independent financial
adviser they will give you details about
the cost of their advice. Unless they
advise you under a fee-based system,
the amount will depend on the size of
your investment and will be paid by
Scottish Widows Investment
Partnership out of the charges detailed
previously. Initial commission is
normally paid following settlement of
the contract. Information concerning
commission is also available from us on
request and will be included in the
information sent to you after you have
made your investment.
Commission sharing
arrangements
SWIP has entered into commission
sharing arrangements with certain third
party brokers, where a broker
remunerated out of the assets of the
scheme has agreed to split its
remuneration with a third party which
results in the third party meeting
expenses through this commission
sharing arrangement that should
normally be met out of the assets of
the Trust.
SWIP PROPERTY TRUST KEY FEATURES NOVEMBER 2013
5
SWIP PROPERTY TRUST
Aims
The Trust will generally invest directly in
UK commercial property. The Trust may
also invest directly or indirectly in any UK
property, US and continental European
commercial property. The Manager may,
at its discretion, also invest directly or
indirectly in other asset classes
(unrestricted by geographical location).
Indirect exposure to property may be
obtained through any or all of the
following property related assets:
transferable securities (including
closed-ended funds and /or warrants),
collective investment schemes
(including unregulated schemes) and
derivatives (including futures, options,
swaps, forward contracts and other
derivatives) and other vehicles which
invest in such assets.
Cumulative annualised historic
performance of the SWIP Property
Trust from launch 17 November
2004 to 31 December 2012
Fund Return*
1 Year
-2.05%
3 Years
3.06%
5 Years
-2.10%
Since launch
1.21%
A Accumulation share price movement in GBP at valuation
point; Revenue (net of tax) reinvested and net of expenses;
Source: Lipper.
Historic calendar year
performance of the SWIP
Property Trust
Performance
The figures in the chart are revenue (net
of tax) reinvested and net of expenses
and do not take into account the initial
charge an investor would have paid.
Past performance is not a guide to
future performance.
The Trust is less than 10 years old.
Accordingly, performance information for
this trust has been given since launch.
6
Please note that dealing costs for
buying and selling investments are
reflected in the unit price so you are not
charged for them as part of your annual
management charge.
Accounting Dates:
31 December (final), 31 March, 30 June
and 30 September (interim)
Income Distribution Dates:
28 February (final), 31 May,
31 August and 30 November (interim)
Your investment*
Initial Charge
TER
Percentage Change in Unit Price
20
Portfolio Turnover Rate
5.0%
1.46%
21.25%
Net incom
(class A u
At the Investmen
end of
to date
the year
1
£1,000
3
£1,000
5
£1,000
10
£1,000
Assumptions: i
annual charges
1.46%. The las
that over 10 ye
total charges a
amount to £27
this would have
bringing investm
5.25% a year d
15
Income and accumulation units are
available. If you select accumulation
units, income earned by the Trust is
retained by, and reflected in the value
of, the Trust. If you select income units,
your units may provide an income.
If you take an income it will be paid
directly to you and won’t be added to
the value of your investment.
10
The Trust may also invest in the following
assets: money market instruments, cash,
near cash, deposits, other derivatives,
other collective investment schemes
(including unregulated schemes), and
government securities (including but not
limited to UK government bonds, other
sterling denominated government
bonds, overseas bonds, and
supranational bonds).
Fund details*
5
0
-5
-10
-15
-20
2005 2006 2007 2008 2009 2010 2011 2012
Annual Management
Charge
Share Initial
Annual
Minimum Minimum
Class Charge Management
Initial
Additional
Charge
Investment Investment
A
5.0%
1.35%
£5,000
£1,000
B
0%
0.75%
£1,000
£1,000
D
0%
0.67%
SWIP PROPERTY TRUST KEY FEATURES NOVEMBER 2013
£150,000,000 £10,000
Units have the same buying and
selling price, which is calculated on
a daily basis.
How will charges and
expenses affect my
investment?
The following figures illustrate the effect
of charges and expenses on an
investment of £1,000 over period of
1, 3, 5 and 10 years. The amount you
get back is not guaranteed and will
depend on how your investment grows
and on the tax treatment of your
investment. The figures are for
illustration purposes only.
We have assumed a growth rate of
5.25% a year. This is a standard growth
rate used by Managers for comparison.
However, charges may vary.
Net incom
(class A u
At end
of year
Investm
to da
1
£1,00
3
£1,00
5
£1,00
10
£1,00
Assumptions: i
annual charges
1.46%. The las
that over 10 ye
total charges a
amount to £29
this would have
bringing investm
5.25% a year d
*The figures sh
A units only. Sh
information on
contact us on
costs for
ments are
so you are not
of your annual
March, 30 June
m)
tes:
y,
mber (interim)
*
5.0%
1.46%
21.25%
n units are
cumulation
he Trust is
in the value
income units,
n income.
will be paid
be added to
ent.
ng and
culated on
s and
my
rate the effect
on an
r period of
amount you
ed and will
stment grows
of your
re for
wth rate of
andard growth
r comparison.
ry.
Net income distributed
(class A units)*
At the Investment Effect of Income What you
end of
to date deductions to date
might
to date
get back
the year
1
£1,000
£66
£27
£957
3
£1,000
£103
£82
£973
5
£1,000
£145
£138
£988
10
£1,000
£272
£283
£1,020
Assumptions: initial charge 5.0% and
annual charges and expenses of
1.46%. The last line of the table shows
that over 10 years, the effect of the
total charges and expenses could
amount to £272. Putting it another way,
this would have the same effect as
bringing investment growth from
5.25% a year down to 3.1% a year.
Net income accumulated
(class A units)*
At end
of year
Investment
to date
Effect of
deductions
to date
What you
might
get back
1
£1,000
£67
£985
3
£1,000
£105
£1,060
5
£1,000
£151
£1,140
10
£1,000
£298
£1,360
Assumptions: initial charge 5.0% and
annual charges and expenses of
1.46%. The last line of the table shows
that over 10 years, the effect of the
total charges and expenses could
amount to £298. Putting it another way,
this would have the same effect as
bringing investment growth from
5.25% a year down to 3.2% a year.
*The figures shown apply to class
A units only. Should you require
information on the other unit classes,
contact us on 0800 33 66 00.
SWIP PROPERTY TRUST KEY FEATURES NOVEMBER 2013
7
OTHER INFORMATION
How to complain
If you need to complain, firstly contact
us at SWIP Fund Management Limited,
BNY Mellon House, Ingrave Road,
Brentwood, Essex, CM15 8TG
Tel: 0800 33 66 00
We will provide you with a copy of our
complaints handling pack and we will
investigate your complaint and provide
you with a substantive response.
If you are not satisfied with the
response, you have the right to refer
your complaint to;
The Financial Ombudsman Service
South Quay Plaza, 183 Marsh Wall,
London, E14 9SR
Tel: 0800 023 4567
E-mail: [email protected]
Website:
www.financial-ombudsman.org.uk
Complaining to the Ombudsman will
not affect your legal rights.
Conflicts of interest
SWIP has established and implemented
a Conflicts Policy (which may be revised
and updated from time to time)
pursuant to FCA regulations, which sets
out how we must seek to identify and
manage all material conflicts of interest.
Such conflicts of interest can occur in
our day to day business activities, for
example, where one of our clients could
make a gain at the direct expense of
another client, or we might be faced
with an opportunity to make a gain but
this would be to the direct disadvantage
of one or more of our clients.
Depending on the exact nature of the
conflict of interest involved, we may
take certain actions in accordance with
the Conflicts Policy to mitigate the
potential impact of the conflict.
8
Such actions may include putting in
place controls between the opposing
sides of the conflict, which may control
or prevent the exchange of information,
and/or involve the appropriate
management of staff activities and
segregation of duties. Where such
controls would be insufficient to
eliminate the potential material risk of
damage to clients from specific
conflicts, then we will disclose the
general nature and/or source of those
conflicts of interest to you prior to us
undertaking the relevant business.
If you wish to have further information on
the Conflicts Policy, or on any specific
conflict of interest that you think might
affect you, please contact us.
Money laundering
regulations
Under these regulations, there is
a requirement to prove the identity of
people who wish to take out an
investment contract. We will require to
carry out any searches or you may be
asked to supply documents as
evidence of you identity and your
address. Normally such checks do not
result in a delay in dealing. However,
we may need to request additional
documentation to complete
your transactions.
Language
We will communicate with you in English
for the duration of your investment.
Terms and conditions
These Key Features give a summary of
the Scottish Widows Investment
Partnership Property Trust. They do not
include all definitions, exclusions and
terms and conditions. Further details of
the benefits, charges and conditions
are given in the Prospectus, which is
available free of charge from
Scottish Widows Investment
Partnership Limited, Edinburgh One,
Morrison Street, Edinburgh, EH3 8BE.
Law
For legal purposes, the law of England
and Wales will apply to dealings in the
units of the SWIP Property Trust.
This information represents SWIP Fund
Management Limited’s interpretation of
the law and HM Revenue & Customs
practice as at the date of publication.
The contract terms, and the taxation
information provided, assume there is
no change in tax or other laws affecting
SWIP Fund Management Limited, the
Trust, or its investors.
SWIP PROPERTY TRUST KEY FEATURES NOVEMBER 2013
Compensation
If you make a valid claim against us and
we are unable to meet our liabilities with
you, you may be entitled to
compensation under the Financial
Services Compensation Scheme
(FSCS) established under the Financial
Services and Markets Act 2000.
The maximum level of compensation
you can receive for investment business
is £50,000. Further details are available
from us or from the FSCS helpline on
0800 678 1100 or on their website at
www.fscs.org.uk
Parties
Manager
SWIP Fund Ma
33 Old Broad S
Trustee
National Westm
135 Bishopgat
Investment A
Scottish Widow
Partnership Lim
Morrison Stree
Auditor
Pricewaterhous
House, 68–73
Edinburgh, EH
Registrar
The Bank of N
(International) L
House, Ingrave
Essex, CM15 8
Standing Inde
CB Richard Ell
Court, 10 Pate
EC4M 7HP
g
there is
e identity of
out an
will require to
you may be
nts as
nd your
hecks do not
g. However,
additional
ete
you in English
vestment.
against us and
ur liabilities with
to
Financial
Scheme
the Financial
2000.
mpensation
ment business
s are available
S helpline on
ir website at
Parties
Manager
SWIP Fund Management Limited,
33 Old Broad Street, London, EC2N 1HZ
Trustee
National Westminster Bank PLC,
135 Bishopgate, London, EC2M 3UR
Investment Adviser and Promoter
Scottish Widows Investment
Partnership Limited, Edinburgh One,
Morrison Street, Edinburgh, EH3 8BE
Auditor
PricewaterhouseCoopers LLP, Erskine
House, 68–73 Queen Street,
Edinburgh, EH2 4NH
Registrar
The Bank of New York Mellon
(International) Limited, BNY Mellon
House, Ingrave Road, Brentwood,
Essex, CM15 8TG
Solicitors
Dundas & Wilson, Saltire Court,
20 Castle Terrace, Edinburgh, EH1 2EN
FCA
Financial Conduct Authority (FCA),
25 North Colonnade, Canary Wharf,
London E14 5HS.
How to contact us
If you have any questions at any time
please contact us by:
Telephone: 0800 33 66 00
(Monday to Friday 8:30am and 5:30pm
UK time).
We may record and monitor calls to
help us improve our service.
Address: SWIP Fund Management
Limited, BNY Mellon House, Ingrave
Road, Brentwood, Essex, CM15 8TG.
Standing Independent Valuer
CB Richard Ellis Limited, St Martin’s
Court, 10 Paternoster Row, London,
EC4M 7HP
SWIP PROPERTY TRUST KEY FEATURES NOVEMBER 2013
9
Scottish Widows Investment Partnership Limited. Registered Office: 33 Old Broad Street, London
EC2N 1HZ. Registered in England and Wales, number 794936. Telephone: +44 (0)131 655 8500.
Authorised and regulated by the Financial Conduct Authority and entered on their register under
number 193707 (www.fca.org.uk).
Telephone calls may be monitored or recorded.
43710 11/13 FP5678
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.
Templeton Global Total Return Bond Fund
Class W(acc) • ISIN GB00BBM4VB49 • A sub-fund of Franklin Templeton Funds
The management company is Franklin Templeton Fund Management Limited
Objectives and Investment Policy
Templeton Global Total Return Bond Fund (the “Fund”) aims to maximise total
investment return by achieving an increase in the value of its investments,
earning income and realising currency gains over the long term.
team uses in-depth research about various factors that may affect bond prices
and currency values.
The Fund invests mainly in:
For the accumulation share class shown in this document, dividend income is
reinvested in the Fund.
· debt securities of any quality (including lower quality) issued by
governments, government-related or corporate entities located in any country
(including securities in default)
For further information on the Objectives and Investment Policy of the Fund,
please refer to the “Investment Objectives and Policies of the Funds” section of
the current prospectus of Franklin Templeton Funds.
Terms to Understand
The Fund can invest to a lesser extent in:
Debt securities: Securities representing the issuer’s obligation to repay a loan
at a specified date and to pay interest.
· mortgage- and asset-backed securities
· debt securities of supranational entities, such as the European Investment
Bank
· derivatives for hedging and investment purposes that are used as an active
investment management instrument to gain exposure to markets
The flexible and opportunistic nature of the strategy allows the investment team
to take advantage of different market environments. By using in-depth
economic, country and security research, including detailed risk analysis,
Franklin Templeton’s large team of fixed income specialists looks to take
advantage of these differences by identifying and investing in the strongest
sources of income, capital growth and currency gain from fixed income
anywhere around the world. In making investment decisions, the investment
You may request the sale of your shares on any UK business day.
Derivatives: Financial instruments whose characteristics and value depend on
the performance of one or more underlying assets, typically securities, indexes,
currencies or interest rates.
Hedging: A strategy for totally or partially offsetting particular risks such as
those arising from fluctuations in share prices, currencies or interest rates.
Mortgage-backed securities: Securities whose value and income payments
are derived from the ownership of a pool of underlying mortgage debts.
Asset-backed securities: Debt securities whose value and income payments
are derived from a pool of underlying assets.
Securities in default: Debt securities whose issuer condition has become
uncertain and whose issuer is failing to make principal or interest payments
when due.
Risk and Reward Profile
1
2
3
4
5
6
7
government-related or corporate entities worldwide and in derivatives. Such
securities have historically been subject to price movements, generally due to
interest rates, foreign exchange rates or movements in the bond market. As a
result, the performance of the Fund can fluctuate over time.
Risks materially relevant not adequately captured by the indicator:
Lower risk
Potentially lower rewards
Higher risk
Potentially higher rewards
What does this indicator mean and what are its limits?
This indicator is designed to provide you with a measure of the price movement
of this share class based on historical behavior.
Historical data may not be a reliable indication of the future risk profile of the
Fund. The category shown is not guaranteed to remain unchanged and may
shift over time.
The lowest category does not mean risk free.
As the share class has no sufficient historical data available, simulated data
based on a representative portfolio model or benchmark have been used
instead.
Why is the Fund in this specific category?
Credit risk: the risk of loss arising from default that may occur if an issuer fails
to make principal or interest payments when due. This risk is higher if the Fund
holds low-rated, non-investment-grade securities.
Currency risk: the risk of loss arising from exchange-rate fluctuations or due
to exchange control regulations.
Derivatives risk: the risk of loss in an instrument where a small change in the
value of the underlying investment may have a larger impact on the value of
such instrument. Derivatives may involve additional liquidity, credit and
counterparty risks.
Liquidity risk: the risk that arises when adverse market conditions affect the
ability to sell assets when necessary. Reduced liquidity may have a negative
impact on the price of the assets.
For a full discussion of all the risks applicable to this Fund, please refer to the
“Risk Factors” section of the current prospectus of Franklin Templeton Funds.
The Fund invests mainly in debt securities issued by government,
1/2
Templeton Global Total Return Bond 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.
*This share class is only available through certain financial advisers which may
apply their own charges. You may find more information about charges from
your financial adviser.
One-off charges taken before or after you invest
The ongoing charges shown here are an estimate of the charges. We have
used estimated figures as previous figures are no longer reliable given the
recent modification in the fee structure of the Fund. The UCITS’ annual report
for each financial year will include detail on the exact charges made.
Entry charge
Not applicable*
Exit charge
Not applicable
This is the maximum that might be taken out of your money before it is
invested.
For detailed information about charges, please refer to the “Fees and Charges”
section of the current prospectus of Franklin Templeton Funds.
Charges taken from the Fund over a year
Ongoing charges
0.78%
Charges taken from the Fund under certain specific conditions
Performance fee
Not applicable
Past Performance
Under current legislation, we are not allowed to display performance
data for funds with less than a complete full calendar year.
2009
2010
2011
2012
· The Fund was launched in 2008 and the present
share class on 15/07/2013.
2013
Practical Information
· The Depositary of Franklin Templeton Funds is BNY Mellon Trust &
Depositary (UK) Limited. · You can obtain further information about the Fund, copies of its prospectus
and the latest annual and semi-annual reports of Franklin Templeton Funds
from the website www.franklintempleton.co.uk or free of charge from
Franklin Templeton Fund Management Limited, The Adelphi, 1 – 11 John
Adam Street, London WC2N 6HT or your financial adviser. These
documents are each available in English.
· The latest prices and other practical information on the Fund (including
information about the other share classes of the Fund) are available from
Franklin Templeton Fund Management Limited, The Adelphi, 1 – 11 John
Adam Street, London WC2N 6HT or www.franklintempleton.co.uk.
· Please note that the United Kingdom taxation regime may have an impact on
your personal tax position. Please consult your financial or tax adviser before
deciding to invest.
· Franklin Templeton Fund Management Limited may be held liable solely on
the basis of any statement contained in this document that is misleading,
inaccurate or inconsistent with the relevant parts of the prospectus of the
Fund.
· The present Fund is a sub-fund of Franklin Templeton Funds. The
prospectus and the annual and semi-annual reports refer to all sub-funds of
Franklin Templeton Funds. All Funds of Franklin Templeton Funds have
segregated assets and liabilities. As a result, each Fund is operated
independently from each other.
· You may exchange shares with another sub-fund of Franklin Templeton
Funds as further described in the prospectus.
This Fund is authorised in the United Kingdom and is regulated by the Financial Conduct Authority.
Franklin Templeton Fund Management Limited is authorised in the United Kingdom and is regulated by the Financial Conduct Authority.
This key investor information is accurate as at 16/06/2014.
KII-GB00BBM4VB49-GB-en-GB-201406160206
2/2
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.
Pound Sterling Accumulation Shares of Vanguard U.K. Government Bond Index Fund (the “Fund”),
a sub-fund of Vanguard Investment Series PLC (ISIN: IE00B1S75374)
The Fund is managed by Vanguard Group (Ireland) Limited (“VGIL”), part of the Vanguard group of companies.
Objectives and Investment Policy
Objective
The Fund seeks to provide returns consistent with the performance of
the Barclays Global Aggregate U.K. Government Float Adjusted Bond
Index (the “Index”).
Investment policy
• The Index includes UK government bonds denominated in UK pounds
sterling with maturities greater than one year that pass screening for
size and liquidity. Liquidity means the extent to which a bond may be
bought and sold without significantly distorting its price.
• The Fund attempts to:
1. Replicate the Index, meaning that it holds a range of bonds that, in
aggregate, approximate the full Index in terms of key risk factors and
other characteristics.
2. Remain fully invested and hold small amounts of cash except in
extraordinary market, political or similar conditions where the Fund
may temporarily depart from this investment policy.
Risk and Reward Profile
1
Higher risk
2
Typically higher rewards
3
4
For further information about the objectives and investment policy
of the Fund, as well as the limited relationship with the Index
provider, please see Appendix 1 and Appendix 6 of the Vanguard
Investment Series plc prospectus (the “Prospectus”) on our
website at https://global.vanguard.com.
The indicator opposite does not take account of the following risks of
investing in the Fund:
Lower risk
Typically lower rewards
• The Fund may use investment techniques, including financial
derivative instruments, to help the Fund stay fully invested and to
reduce costs. A financial derivative instrument is an investment
whose value is based on the price of another investment (such as a
stock or index).
• This Fund may not be appropriate for investors who plan to withdraw
their money within 5 years.
• Income from the Fund will be reinvested and reflected in the price of
shares in the Fund.
• Shares in the Fund can be sold on a daily basis (save on certain bank
holidays or public holidays and subject to certain restrictions
described in Appendix 1 of the Prospectus) by submitting an
application in writing or by telephone before 12:00 (Irish time) on the relevant dealing day, or, where you hold shares with a platform, by
submitting an application seeking the sale of your shares before the
dealing cut-off time of the respective platform, provided this is before
the dealing cut-off time for the Fund. A full list of the days on which
Shares in the Fund cannot be sold is available on
https://global.vanguard.com/content/documents/calendar.pdf.
5
6
7
• This indicator is based on historical data and 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”.
• This indicator does not measure the risk that you may lose the
amount you have invested.
• The Fund is rated 4 as it invests in government bonds and is in a
middle category as the values of those investments have experienced
a moderate rate of change in the past.
• No investment guarantee risk. The value of investments may fall as
well as rise, and you may not get back the money you invested.
• Currency risk. The Fund invests in overseas markets and the value of
the Fund may fall or rise as a result of changes in exchange rates.
• Index tracking risk. The Fund is not expected to track or replicate the
performance of the Index at all times with perfect accuracy. The Fund
is, however, expected to provide investment results that, before
expenses, generally correspond to the price and yield performance of
the Index.
• Bond risk. The Fund invests in bonds which may provide higher yields
but as such may carry greater credit risk increasing the risk of default
on repayment and erosion of the capital value of your investment. The
level of income may fluctuate and movements in interest rates are
likely to affect the capital value of bonds.
For further information on risks please see the “Risk Factors”
section of the Prospectus on our website at
https://global.vanguard.com.
Charges
The entry and exit charges shown are maximum figures and in some
cases you might pay less.
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.
Investors can find out the actual entry and exit charges from their financial
adviser.
One-off charges taken before or after you invest
Entry charge
None
Exit charge
None
The ongoing charges figure is based on expenses for the year ended 31
December 2013. This figure may vary from year to year. It excludes
portfolio transaction costs.
This is the maximum that might be taken out of your money before it
is invested and before the proceeds of your investment are paid out.
For further information about charges, please see the sections
entitled “Buying Shares”, “Redeeming Shares”, “Fees and
Expenses” and Appendix 1 of the Prospectus on our website at
https://global.vanguard.com.
Charges taken from the Fund over a year
Ongoing charges
0.15%
Charges taken from the Fund under specific conditions
Performance fee
None
Percent (%)
Past Performance
• Shares in the Fund were first issued on 23 June 2009.
• Past performance:
1. Is not a reliable indication of future performance.
2. Includes ongoing charges and the reinvestment of
income. It excludes entry and exit fees.
3. Has been calculated in UK pounds sterling.
20
10
0
-10
Fund
2009
2010*
7.4
2011
17.0
2012
2.7
2013
-4.2
Index
7.4
17.0
2.9
-4.1
* The Fund's objective and investment policy changed on 01 July 2010.
Practical Information
Custodian
The Fund’s custodian is J.P. Morgan Bank (Ireland) plc.
Documents, prices of
shares and further
information
You can obtain copies of the Prospectus and the latest annual and semi-annual report and accounts for Vanguard
Investment Series plc (“VIS”), along with the latest published prices of shares and other information on the Fund, free of
charge from Vanguard Investment Series plc c/o J.P. Morgan Administration Services (Ireland) Limited, JPMorgan House,
International Financial Services Centre, Dublin 1, Ireland (tel. 353-1-612-3226) or from our website at
https://global.vanguard.com. These documents are available in English only.
VIS is an umbrella fund with segregated liability between sub-funds. This means that the holdings of the Fund are
maintained separately under Irish law from holdings of other sub-funds of VIS and your investment in the Fund will not be
affected by any claims against any other sub-fund of VIS.
You may exchange your shares in the Fund for shares in any other sub-funds of VIS. An entry charge may apply. Details
of switching are provided in the Prospectus.
Tax
Irish tax legislation may have an impact on your personal tax position. You are recommended to consult your professional
tax adviser.
VGIL 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.
The Fund is authorised in Ireland and regulated by the Central Bank of Ireland (the “Central Bank”). VGIL is authorised in Ireland and regulated by the
Central Bank.
This key investor information is accurate as at 13 February 2014.
Pound Sterling Accumulation Shares of Vanguard U.K. Government Bond Index Fund
KIID9148en
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.
Accumulation Shares of Vanguard U.K. Inflation-Linked Gilt Index Fund (the “Fund”),
a sub-fund of Vanguard Investments Funds ICVC (ISIN: GB00B45Q9038)
The Fund is managed by Vanguard Investments UK, Limited ("VIUK"), part of the Vanguard group of companies.
Objectives and Investment Policy
Objective
The Fund seeks to track the performance of the Barclays U.K.
Government Inflation-Linked Float Adjusted Bond Index (the “Index”).
Investment policy
• The Index includes UK government inflation-linked bonds with
maturities greater than one year that pass screening for size and
liquidity. Liquidity means the extent to which a bond may be bought
and sold without significantly distorting its price.
• The Fund attempts to:
1. Replicate the Index by investing in all of the component securities
of the Index, holding each security in approximately the same
proportion as its weighting in the Index.
2. Remain fully invested and hold small amounts of cash except in
extraordinary market, political or similar conditions where the Fund
may temporarily depart from this investment policy.
Risk and Reward Profile
1
Higher risk
2
Typically higher rewards
3
4
For further information about the objectives and investment policy
of the Fund, and Vanguard’s limited relationship with the Index
provider, please see Appendix 1 and the “Disclaimers” section of
the Vanguard Investments Funds ICVC prospectus (the
“Prospectus”) on our website at https://global.vanguard.com.
The indicator opposite does not take account of the following risks of
investing in the Fund:
Lower risk
Typically lower rewards
• The Fund may use investment techniques, including financial
derivative instruments, to help the Fund stay fully invested and to
reduce costs. A financial derivative instrument is an investment
whose value is based on the price of another investment (such as a
stock or index).
• This Fund may not be appropriate for investors who plan to withdraw
their money within 5 years.
• Income from the Fund will be reinvested and reflected in the price of
shares in the Fund.
• Shares in the Fund can be sold on a daily basis when the London
Stock Exchange is open (subject to certain restrictions described in
Appendix 1 of the Prospectus) by submitting an application in writing
or by telephone before 12:00 noon (London time) or, where you hold
shares with a platform, by submitting an application seeking the sale
of your shares before the dealing cut-off time of the respective
platform, provided that this is before the dealing cut-off time for the
Fund. A full list of the days on which Shares in the Fund cannot be
sold is available on
https://global.vanguard.com/content/documents/calendar-uk.pdf.
5
6
7
• This indicator is based on historical data and 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”.
• This indicator does not measure the risk that you may lose the
amount you have invested.
• The Fund is rated 4 as it invests in government bonds and is in a
middle category as the values of those investments have
experienced a moderate rate of change in the past.
• No investment guarantee risk. The value of investments may fall as
well as rise, and you may not get back the money you invested.
• Interest rate risk. The chance that the market values of bonds overall
will decline because of rising interest rates.
• Income risk. The chance that the Fund’s income will decline because
of falling interest rates.
• Call risk. The chance that during periods of falling interest rates,
issuers of callable bonds may call (repay) securities with higher
coupons or interest rates before their maturity dates.
• Credit risk. The chance that a bond issuer will fail to pay interest and
principal in a timely manner, or that negative perceptions of the
issuer’s ability to make such payments will cause the price of that
bond to decline.
• Index sampling risk. As the Fund uses an index sampling technique
whereby a representative sample of securities are selected to
represent the Index, there is the risk that the securities selected for
the Fund may not, in the aggregate, approximate the full Index.
For further information on risks please see the “Risk Factors”
section of the Prospectus on our website at
https://global.vanguard.com.
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 entry charge represents a preset dilution levy which covers the
transaction costs of the Fund and protects the value of remaining
shareholders interests. This charge is paid directly to the Fund and not to
VIUK.
One-off charges taken before or after you invest
Entry charge
The entry and exit charges shown are maximum figures and in some
cases you might pay less.
0.10%
Exit charge
Investors can find out the actual entry and exit charges from their financial
adviser.
None
This is the maximum that might be taken out of your money before
it is invested and before the proceeds of your investment are paid
out.
The ongoing charges figure is based on expenses for the year ended 31
December 2013. This figure may vary from year to year. It excludes
portfolio transaction costs.
Charges taken from the Fund over a year
Ongoing charges
0.15%
For further information about charges please see the sections
entitled “Buying Shares”, “Redeeming Shares”, “Charges and
Expenses”, ”Dilution Levy” and Appendix 1 of the Prospectus on
our website at https://global.vanguard.com.
Charges taken from the Fund under specific conditions
Performance fee
None
Percent (%)
Past Performance
• Shares in the Fund were first issued on 03 February
2011.
• Past performance:
1. Is not a reliable indication of future performance.
2. Includes ongoing charges and the reinvestment of
income. It excludes entry and exit fees.
3. Has been calculated in UK pounds sterling.
1
0.5
0
Fund
2009
2010
2011
2012
0.9
2013
0.5
Index
0.6
0.6
Practical Information
Depositary
The Fund’s depositary is State Street Trustees Limited.
Documents, prices of
shares and further
information
You can obtain copies of the Prospectus and the latest annual and semi-annual report and accounts for Vanguard
Investments Funds ICVC (“VIF”), along with the latest published prices of shares and other information on the Fund, free
of charge from Vanguard Investments UK, Limited, P.O. Box 10315, Chelmsford CM99 2AT (tel. 0800 408 2065) or from
our website at https://global.vanguard.com. These documents are available in English only.
VIF is an umbrella fund with segregated liability between sub-funds. This means that the assets of the Fund are
maintained separately under law from the assets of the other sub-funds of VIF, and each sub-fund is insulated from any
liabilities or claims associated with the other sub-funds.
The Fund is part of VIF and has both accumulation and income shares. You may switch some or all of your shares of one
type, to shares of another type within the same Fund, or between other funds of VIF. An entry charge may apply. Details
of switching are provided in the Prospectus.
Tax
UK tax legislation may have an impact on your personal tax position. You are recommended to consult your professional
tax adviser.
VIUK 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.
The Fund is authorised in the UK and regulated by the Financial Conduct Authority (“FCA”). VIUK is authorised and regulated in the UK by the FCA.
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Accumulation Shares of Vanguard U.K. Inflation-Linked Gilt Index Fund
KIID9226en