doing business with fundsnetwork - bigifa.co.uk · 1/14/2014 · blackrock corporate bond tracker...

This document must be read in conjunction with the FundsNetwork Client Terms.

Doing Business with FundsNetworkIncluding the Key Features of the Investment Fund Account and ISA

For individual investors with an adviser or intermediary

Date: 14 January 2014

Document prepared for: Mr The Big Picture

Adviser name: The Big Picture Wealth Mgt Ltd

Consultant name: Mr Jon Clark

Investment Fund Account

Fund Name Lump Sum Monthly Savings Plan

Allianz Gilt Yield Fund C Inc £300

AXA Sterling Index Linked Bond Z Acc £600

BlackRock Corporate Bond Tracker Fund Class D Acc £2,200

BlackRock UK Gilts All Stocks Tracker Fd D Acc £1,300

Cazenove UK Smaller Companies Fund X Acc £200

F&C US Smaller Companies Fund Share Class C Inc £200

Fidelity MoneyBuilder UK Index Fund I-Accumulation £1,000

First State Global Property Securities B Acc £200

GLG Global Corporate Bond Prof Acc C £1,300

HSBC American Index Fund Acc C £900

Ignis European Smaller Companies £100

Kames High Yield Bond B Acc £600

Legal & General European Index Trust (I) - Acc £500

Legal & General UK Property Trust (I) - Acc £600

Total Investment Amount £10,000

Adviser Initial Fee £0

What you will pay £10,000

2

Your personal Investment Fund Account projection

Below is a summary of your investment choices, and an illustration of what you might get back after ten years if your investments grow at the examplegrowth rates shown and the charges for buying and owning each fund are deducted.

Each fund is projected at a lower, mid and higher growth rate. For funds investing mainly in equities or shares we use the standard growth rates set bythe Financial Conduct Authority. However, for funds where we believe the standard growth rates are not realistic, we use lower growth rates. Thisincludes funds investing predominantly in bonds or cash. Note that these example growth rates assume that you will hold these investments for around10 years or more.

Using standard growth rates for similar types of fund helps to demonstrate the effect of a fund's charges on the growth of that fund, and makes iteasier to compare one set of fund charges with another. Note that the fund charges can vary over time.

Please note that the real growth rate of each fund will depend on future movements in share prices, which can go down as well as up, so you couldget back less than you invest – therefore the projections should only be considered as examples, are not guaranteed, and are not minimum ormaximum amounts. You should also bear in mind that inflation will reduce what you could buy in the future with the amounts shown.

A more detailed projection and information about the charges that apply to each fund can be found in the 'effect of charges' section of this document.

What your investment may be worth after 10 years

Fund Name Lump Sum MonthlySavings

Plan over10 years

Amount investedplus AdviserFees paid at

the endof Year 10

Growth Projections at

3.00% 5.00% 7.00%

Allianz Gilt Yield Fund C Inc £300 £300 £355 £430 £519

AXA Sterling Index Linked Bond Z Acc £600 £600 £709 £860 £1,030

BlackRock Corporate Bond Tracker Fund ClassD Acc

£2,200 £2,200 £2,640 £3,200 £3,860

BlackRock UK Gilts All Stocks Tracker Fd D Acc £1,300 £1,300 £1,560 £1,890 £2,280

GLG Global Corporate Bond Prof Acc C £1,300 £1,300 £1,480 £1,800 £2,170

Kames High Yield Bond B Acc £600 £600 £677 £820 £991

4.00% 6.00% 8.00%

Cazenove UK Smaller Companies Fund X Acc £200 £200 £248 £300 £361

F&C US Smaller Companies Fund Share ClassC Inc

£200 £200 £248 £300 £361

Fidelity MoneyBuilder UK Index FundI-Accumulation

£1,000 £1,000 £1,320 £1,600 £1,930

First State Global Property Securities B Acc £200 £200 £241 £291 £351

HSBC American Index Fund Acc C £900 £900 £1,180 £1,430 £1,730

Ignis European Smaller Companies £100 £100 £123 £149 £179

Legal & General European Index Trust (I) - Acc £500 £500 £660 £798 £962

Legal & General UK Property Trust (I) - Acc £600 £600 £758 £917 £1,100

Total £10,000 £0 £10,000 £12,199 £14,785 £17,824

Notes:

● All projected figures are rounded down and shown to 3 significant figures.

● Any monthly savings plan (MSP) contributions are based on the total contributed over the whole duration you specified.

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9

The effect of charges on your Investment Fund Account

This section aims to show you how the charges for your investments might affect their growth, giving first a combined view of all the funds in thisillustration, and then a more detailed view of each fund.

The first table on the left shows the total invested as a lump sum and/or monthly savings plan in this illustration, and the effective total initial andongoing charges. The total ongoing charges are based on all the ongoing charges applicable to each fund (as shown in the detailed tablesfollowing), and the weighting of each fund, to approximate an overall ongoing charge. The total initial charges are calculated in a similar way, notingthat the total initial charge is calculated as being applied to 'What you will pay'.

The table on the right uses a weighted growth rate for the projection of your investments in this account based on the weighting and assumed growthrate of each fund shown in the table relating to that fund. The table summarises 'What you will pay' (including the amounts invested and any adviser orintermediary Initial Fees that are paid in addition to the investment amounts) and an approximation for 'What you might get back' if the fund grows atthe weighted growth rate and the relevant initial and ongoing charges are deducted.

Please note that the real growth rate of each fund will depend on future movements in share prices, which can go down as well as up - therefore theprojections should only be considered as examples, are not guaranteed, and are not minimum or maximum amounts. You should also bear in mindthat inflation will reduce what you could buy in the future with the amounts shown.

Investment Fund Account

Investment amount

Lump sum £10,000

Monthly Savings Plan N/A

Initial charges Charge

Total initial charges (lump sum) 0.00%

Ongoing charges Charge

Total ongoing charges 1.32%

In this example the charges would have the effect of bringing the illustratedinvestment growth down by 1.38%, reducing it from 5.38% to 4.00%.

At endof year

What youwill pay

Incomereinvested

to date

Effect ofchargesto date

What you mightget back at 5.38%

1 £10,000 £9 £139 £10,300

3 £10,000 £27 £452 £11,200

5 £10,000 £47 £827 £12,100

10 £10,000 £103 £2,080 £14,700

The detailed tables following next show how the charges for buying and owning each particular fund might affect the growth of that fund using anexample growth rate. Each fund is projected at the middle growth rate used in the 'your personal account projection' section. This is the standard midgrowth rate set by the Financial Conduct Authority for funds investing mainly in equities or shares, and a lower growth rate for funds investingpredominantly in bonds or cash.

Considering each fund in isolation and using standard growth rates for similar types of fund helps to demonstrate the effect of charges on the growthof each fund, and makes it easier to compare one set of fund charges with another. However note that these projections do not show what the valueof each fund might actually be in the future - the real growth rate of each fund will depend on that fund's future performance, which is unknown. Alsothe tables assume that any adviser or intermediary Ongoing Fee will be spread proportionally across all your funds. In practice we will take theadviser or intermediary Ongoing Fee either from a single fund or your CashManager Account. The charge will have a greater effect on a fund wherethe fee is actually deducted from and a lesser effect on other funds.

For each fund, the tables on the left list the initial and ongoing charges that will be included in each projection. If you have agreed to pay your adviseror intermediary an Ongoing Fee, then some of the charge that the fund manager pays to us may be rebated back into your account. If you haveagreed to pay your adviser or intermediary a fixed Initial Fee or a fixed Ongoing Fee relating to the funds in this illustration then this will beapportioned to the funds in the illustration according to the initial weighting of each fund.

For each fund, the tables on the right will summarise 'What you will pay' (including the lump sum and monthly savings plan (MSP) amounts investedand any adviser or intermediary Initial Fee that is paid in addition to the investment amount) and 'What you might get back' if the fund grows at theexample growth rate and the initial and ongoing charges shown in the corresponding table on the left are deducted.

Notes:

● All projected figures are rounded down and shown to 3 significant figures.

● If you have selected for income to be paid out and the amount of the income plus the amount of the charges paid is more than the amount yourinvestment increases in any year, then the value of your investment (shown in the 'What you might get back' column) will reduce.

● Annual management charges (AMCs) and other expenses are supplied to us semi-annually by fund providers, however they can sometimeschange materially during the intervening period. The most up-to-date charges can be obtained directly from the fund provider.

● For some funds there may be other charges to pay that are not included in these illustrations. These can include performance fees and theadditional bid/offer spread applied to dual priced funds. Note that for such investments the figures shown in the 'What you might get back'column would be lower if these other charges were incorporated.

10

Allianz Gilt Yield Fund C Inc

Investment amount

Lump sum £300

Monthly Savings Plan (MSP) N/A


Initial charge outside ISA (lump sum) 0.00%

Adviser Initial Fee (lump sum) 0.00%


Annual Management Charge (AMC) 0.30%

Other expenses 0.03%

Service Fee (not inc in AMC)* 0.25%

Adviser Ongoing Fee 0.70%

*This is the rate that will be applied to your holdings inaddition to the Annual Management Charge


At endof year

What youwill pay

Incomereinvested

to date



1 £300 £9 £4 £311

3 £300 £27 £13 £334

5 £300 £47 £24 £359

10 £300 £103 £59 £430

AXA Sterling Index Linked Bond Z Acc

Investment amount

Lump sum £600












At endof year

What youwill pay



1 £600 £8 £622

3 £600 £26 £668

5 £600 £47 £718

10 £600 £117 £860

11

BlackRock Corporate Bond Tracker Fund

Class D Acc

Investment amount

Lump sum £2,200












At endof year

What youwill pay



1 £2,200 £26 £2,280

3 £2,200 £84 £2,460

5 £2,200 £153 £2,650

10 £2,200 £380 £3,200

BlackRock UK Gilts All Stocks Tracker Fd

D Acc

Investment amount

Lump sum £1,300












At endof year

What youwill pay



1 £1,300 £15 £1,350

3 £1,300 £50 £1,450

5 £1,300 £90 £1,560

10 £1,300 £223 £1,890

12

Cazenove UK Smaller Companies Fund X

Acc

Investment amount

Lump sum £200












At endof year

What youwill pay



1 £200 £4 £208

3 £200 £12 £226

5 £200 £23 £245

10 £200 £58 £300

F&C US Smaller Companies Fund Share

Class C Inc

Investment amount

Lump sum £200












At endof year

What youwill pay



1 £200 £4 £208

3 £200 £12 £226

5 £200 £23 £245

10 £200 £58 £300

13

Fidelity MoneyBuilder UK Index Fund

I-Accumulation

Investment amount

Lump sum £1,000












At endof year

What youwill pay



1 £1,000 £12 £1,040

3 £1,000 £39 £1,150

5 £1,000 £72 £1,260

10 £1,000 £187 £1,600

First State Global Property Securities B

Acc

Investment amount

Lump sum £200












At endof year

What youwill pay



1 £200 £4 £208

3 £200 £14 £224

5 £200 £26 £241

10 £200 £67 £291

14

GLG Global Corporate Bond Prof Acc C

Investment amount

Lump sum £1,300












At endof year

What youwill pay



1 £1,300 £22 £1,340

3 £1,300 £71 £1,430

5 £1,300 £128 £1,530

10 £1,300 £315 £1,800

HSBC American Index Fund Acc C

Investment amount

Lump sum £900












At endof year

What youwill pay



1 £900 £11 £943

3 £900 £36 £1,030

5 £900 £67 £1,130

10 £900 £175 £1,430

Ignis European Smaller Companies

Investment amount

Lump sum £100












At endof year

What youwill pay



1 £100 £2 £104

3 £100 £6 £113

5 £100 £12 £122

10 £100 £30 £149

15

Kames High Yield Bond B Acc

Investment amount

Lump sum £600












At endof year

What youwill pay



1 £600 £11 £619

3 £600 £36 £659

5 £600 £64 £702

10 £600 £157 £820

Legal & General European Index Trust (I)

- Acc

Investment amount

Lump sum £500












At endof year

What youwill pay



1 £500 £6 £524

3 £500 £20 £575

5 £500 £37 £632

10 £500 £97 £798

16

Legal & General UK Property Trust (I) -

Acc

Investment amount

Lump sum £600












At endof year

What youwill pay



1 £600 £10 £626

3 £600 £33 £681

5 £600 £61 £742

10 £600 £158 £917

17

Charges on your Investment Fund Account

Charges payable to your adviser or intermediary

You have agreed a rate for an Initial Fee and an Ongoing Fee with your adviser or intermediary.

The Initial Fee may be a percentage of the amount invested, or a fixed monetary amount. For lump sum investments an Initial Fee would be added tothe lump sum investment amount (thereby increasing the amount you must pay). For monthly savings plan investments an Initial Fee would be deducedfrom the monthly payment you make. For transfers an Initial Fee would be deducted from the transfer proceeds we receive from another provider. TheInitial Fee you will pay to your adviser or intermediary is illustrated below.

The Ongoing Fee may be a percentage of the value of your investments, or a fixed monetary amount, and is charged on a monthly basis. This fee ispaid from a fund that has been selected by you, or else it will be deducted from your CashManager Account if you have one, or the largest fund in thisaccount. Note that percentage based Ongoing Fees will vary with the performance of the funds chosen. In the illustration below we provide anexample of what your adviser or intermediary will receive if there is no investment growth in the first year, and also what your adviser or intermediarywill receive if your investment doubles in value in the first year.

Total amount invested in year 1(includes lump sum and MSP)

Adviser Initial Fee Adviser Ongoing Fee

Fee Rate Total fee paid inyear 1

Adviser OngoingFee rate

Total fee paid if0% growth in year

1

Total fee paid if100% growth in

year 1

£10,000.00 0.00% £0.00 0.70% £70.00 £140.00

Platform fees payable to FundsNetwork

FundsNetwork receives a Service Fee, charged on an ongoing basis, in return for providing platform services such as the administration of your assets.

For funds where the Service Fee is payable in addition to the AMC, then it is displayed as a separate charge on your statement, and is paid from afund that has been selected by you, or the largest fund in this account. For some funds the Service Fee is included in the AMC charged by the fundprovider, and therefore will not show as a separate charge on your statement.

Since the Service Fee is a percentage of the value of your investments, it will vary with the performance of the funds chosen. In the illustration below weprovide an example of what FundsNetwork will receive if there is no investment growth in the first year, and also what we will receive if yourinvestment doubles in value in the first year.

Total amount invested in year 1(includes lump sum and MSP)

Service Fee paid as part of the AMC Service Fee paid in addition to the AMC

Total fee paid if 0%growth in year 1




£10,000.00 £0.00 £0.00 £25.00 £50.00

Investor Fee

Note that in addition to the Service Fee shown above that relates to the funds illustrated in this document, you will also pay an Investor Fee of £45.0per year to FundsNetwork.

18

Fund information

We provide you with the essential information you need to know about the fund in either our 'Fund Information' section where you will find a 'FundTable' or in a Key Investor Information Document (KIID). If a performance fee (or charge) is applied to the fund, this information will be detailed in theKIID and in the Fund Table under "Risk factors".

Fund Tables

The fund tables provide key information about each fund, such as the fund's objectives and risks. Information about charges can be found in the'Charges and expenses' section. The actual charges that will apply to your investments can be found in the 'Effects of charges' section.

Key Investor Information Document (KIID)

The KIID is a short document containing the essential characteristics of an investment fund to help you understand the nature and the risks of investing.This will include the fund objectives, risk factors, charges, and performance history. The charges could be different from the charges you pay wheninvesting through FundsNetwork.

Where a charge appears in the 'Effect of charges' section and in the KIID, the charges stated in the 'Effects of charges' section are the charges that willapply to your investment.

More detailed information is available in the Fund Prospectus which you can obtain from the relevant fund provider.

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

Allianz UK & European Investment Funds -Allianz Gilt Yield Fund Share Class C (Income)(GBP)

ISIN:GB0031383390

Managed by Allianz Global Investors Europe GmbH, part of Allianz GlobalInvestors

Objectives and Investment Policy

The objective of the Fund is to maximise total return primarilythrough investment in British Government Securities.

We may invest in gilts, deposits, money market instruments,derivatives, collective investment schemes. We may investmore than 35% of the Fund's value in debt securities issued bythe UK. We may use derivative instruments such as futures,options, options on swaps and swap agreements (interest rateswaps).These derivative instruments may be used for hedgingpurposes and/or for investment purposes. This may increasethe risk of capital loss.

Benchmark of the fund is FTSE UK Govt All Stocks.

You may redeem shares of the fund usually on each businessday at 12.00.

We usually distribute the income of the fund on a semiannualbasis.

Recommendation: this fund may not be appropriate forinvestors who plan to withdraw their money within 2 years.

Risk and Reward Profile

← Typically lower rewards← Typically lower risk

→Typically higher rewards→Typically higher risk

1 2 3 4 5 6 7

This risk and reward indicator is based on past performancedata. It may not be a reliable indication of the future risk profileof the fund.

The categorisation of the fund is not guaranteed and maychange in the future.

Even the lowest category 1 does not mean a risk-freeinvestment.

Why is the fund in this category?

Funds of category 4 have shown in the past a medium volatility.The volatility describes how much the value of the fund wentup and down in the past. The units of a fund of category 4might be subject to medium price fluctuations based on thehistorical volatilities observed.

We may invest directly or indirectly a significant portion of thefund into bonds or money markets instruments. If the issuermay fall into insolvency or may suffer economical problems theinterest and/or the capital of these assets may not or may notbe completely paid and/or the price of the assets may drop.

Charges

These charges are used to pay the costs of running the fund,including the costs of marketing and selling. They reduce thepotential growth of your investment.

One-off charges deducted before or after you invest

Entry ChargeExit ChargeThis is the maximum charge that might be taken out of your money before itis invested or before the proceeds of your investments are paid out.

0.00%0.00%

Charges taken from the fund over a year

Ongoing Charges 0.33%

The entry and exit charges shown are maximum figures. Insome cases you might pay less – you can find actual entry andexit charges from your financial adviser.

The ongoing charges shown are based on the fund’s lastfinancial year ending 31.08.2012. It may vary from year to year.

You will find more details about the calculation of the chargesby checking the respective part of the prospectus.

Past Performance

◼ Percentage growth of the fund ◼ Index: FTSE UK Govt All Stocks

-5%

0%

5%

10%

15%

20%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

0.5

5.17.0

-1.4

4.8

16.9

-1.3

6.6

15.3

2.42.1

6.67.9

0.7

5.3

12.8

-1.2

7.2

15.6

2.7

Past performance is not a reliable guide to future performance.

The past performance shown here takes account of all chargesand costs with the exception of the entry and exit charge.

The fund was launched in 2002.

The performance of the fund is calculated in GBP.

Practical Information

Allianz UK & European Investment Funds has a number ofdifferent Funds. The assets and liabilities of each Fund aresegregated by law.

Depositary: JPMorgan Chase Bank.

You may obtain free of charge the prospectus, the latest annualand semi-annual reports in English from Allianz GlobalInvestors Europe GmbH, 199 Bishopsgate, London EC2M 3TY,United Kingdom or at www.allianzgi.co.uk.

The unit prices as well as further information on the fund(including other shareclasses of the fund) are available onlineat www.allianzgi.co.uk.

The fund is subject to tax laws and regulations in the UK. Thismight have an impact on your personal tax position. For furtherdetails, please speak to your tax advisor.

Allianz Global Investors Europe GmbH may be held liable solely

on the basis of any statement contained in this document thatis misleading, inaccurate or inconsistent with the relevant partsof the prospectus for the fund.

This fund is authorised in the UK and regulated by The FinancialConduct Authority. Allianz Global Investors Europe GmbH,www.allianzgi-regulatory.eu, an investment company withlimited liability, incorporated in Germany, with its registeredoffice at Bockenheimer Landstrasse 42-44, D-60323Frankfurt/Main, registered with the local court Frankfurt/Mainunder HRB 9340, authorized by Bundesanstalt fürFinandienstleistungsaufsicht (www.bafin.de). Allianz GlobalInvestors Europe GmbH has established a branch in the UnitedKingdom - Allianz Global Investors Europe GmbH, UK branch -which is subject to limited regulation by the Financial ConductAuthority (www.fca.org.uk).

The key investor information is accurate as at 16.12.2013.

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 youunderstand 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.

AXA Sterling Index Linked Bond FundA Sub-Fund of AXA Fixed Interest Investment ICVCShare class: AXA Sterling Index Linked Bond Fund Z (Net) Accumulation GBP (ISIN: GB00B02Y6C39)This Sub-Fund is managed by AXA Investment Managers UK Limited, part of the AXA IM Group

Objective and Investment PolicyInvestment Objective

The aim of this Fund is to generate returns by gaining exposuregenerally to sterling denominated index-linked securities.

Investment Policy

Ordinarily, at least 60% of investment is in sterling denominated fixedincome securities (i.e. investments which provide a certain level ofincome or interest) which are issued by governments or companies.

Investment is anywhere in the world.

This Fund may also invest in transferable securities, derivatives, moneymarket instruments, deposits, collective investment schemes and cashholdings.

We may use investment techniques to protect the value of the Fund,including using interest rate futures and forward contracts in order toreduce the risks otherwise associated with making investments incurrencies other than the Fund's accounting currency.

Income

Income from investments in the Fund will be rolled up into the value ofyour Accumulation shares.

Fund Currency

The reference currency of the Fund is Sterling.

Investment Horizon

This Fund may not be suitable for investors who plan to withdraw theircontribution within five years.

Processing of subscription and redemption orders

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

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

Minimum initial investment: £100,000

Minimum subsequent investment: £5,000

Risk and Reward ProfileLower risk Higher risk

Potentially lower reward Potentially higher reward

1 2 3 4 5 6 7

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

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

The lowest category does not mean risk free.

Why is this Fund in this category?

The capital of the Fund is not guaranteed. The Fund is invested infinancial markets and uses techniques and instruments which aresubject to some levels of variation, which may result in gains or losses.

Additional Risks

Credit Risk: risk that issuers of debt securities held in the Fund maydefault on their obligations or have their credit rating downgraded,resulting in a decrease in the Net Asset Value.

Counterparty Risk: risk of bankruptcy, insolvency, or payment ordelivery failure of any of the Fund's counterparties, leading to apayment or delivery default.

Impact of any techniques such as derivatives: certain managementstrategies involve specific risks, such as liquidity risk, credit risk,counterparty risk, legal risk, valuation risk, operational risk and risksrelated to the underlying assets.

The use of such strategies may also involve leverage, which mayincrease the effect of market movements on the Fund and may resultin significant risk of losses.

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

One-off charges taken before or after you invest

Entry charge none

Exit charge none

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


Ongoing charge 0.33%

Charges taken from the fund under certain specific conditions

Performance fee none

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

The ongoing charges figure is based on expenses for the twelve monthperiod ending December 2012. This figure may vary from year to year.It excludes:

n Performance fees

n Portfolio transaction costs, except in the case of an entry/exitcharge paid by the Fund when buying or selling units in an othercollective investment undertaking

For more information about charges, please refer to the Chargessection of the prospectus which is available at www.axa-im.com.

Past Performance

%

¢ AXA Sterling Index Linked Bond Fund Z (Net) Accumulation GBP(GB00B02Y6C39)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

9.3 1.0 7.6 2.4 5.3 8.2 22.1 0.5

Past performance is not a reliable indicator of future results.

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

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

Past performance has been calculated in Sterling and is expressed asa percentage change of the Fund's Net Asset Value at each year end.

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

Further Information: more detailed information on this Fund, such asthe prospectus as well as the latest annual and semi-annual report,can be obtained free of charge from the Fund Management Company,the Administrator, the Funds' distributors or online at www.axa-im.com.

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

The assets and liabilities of the Fund are segregated by law and aretherefore protected from any losses suffered by other Sub-Funds in theAXA Fixed Interest Investment ICVC.

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

Tax Legislation: the Fund is subject to the tax laws and regulations ofthe United Kingdom. Depending on your own country of residence thismight have an impact on your investments. For further details, youshould consult a Tax Adviser.

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

Switching between Funds: shareholders may apply for any shareclasses of any Funds to be converted into share classes of anotherFund, provided that the conditions for accessing the target share class,type or sub-type are fulfilled with respect to this Fund, on the basis oftheir respective Net Asset Value calculated on the Valuation Dayfollowing receipt of the conversion request.

The redemption and subscription costs connected with the conversionmay be charged to the shareholder as indicated in the prospectus.

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

0

10

20

30

40

Key Investor Information AXA Sterling Index Linked Bond Fund

This Fund is authorised in the United Kingdom and regulated by the Financial Services Authority (FSA).AXA Investment Managers UK Limited is authorised in the United Kingdom and regulated by the Financial Services Authority.This key investor information is accurate as at 19/02/2013.

BlackRock Corporate Bond Tracker Fund

A sub-fund of BlackRock Collective Investment Funds

Class D Accumulating GBPISIN: GB00B84DSW83

Manager: BlackRock Fund Managers Limited

Objectives and Investment PolicyThe Fund aims to achieve a return on your investment, through acombination of capital growth and income on the Fund’s assets, bytracking closely the performance of the Markit iBoxx GBP Non-GiltsOverall TR Index, the Fund’s benchmark index.The Fund invests in fixed income securities (such as bonds) that makeup the benchmark index and, at the time of purchase, comply withthe credit rating requirements of the benchmark index.The benchmark index measures the performance of fixed incomesecurities denominated in Sterling issued by governments,government agencies, companies and supranationals (e.g. theInternational Bank for Reconstruction and Development) but excludesgilts (i.e. bonds) issued by the UK government. These may includefixed income securities which pay income according to a fixed rate ofinterest and will be investment grade (i.e. meet a specified level ofcredit worthiness) at the time of inclusion in the benchmark index.The Fund uses techniques to achieve a similar return to itsbenchmark index. These techniques may include the strategic

selection of certain securities that make up the benchmark index orother fixed income securities which provide similar performance tocertain constituent securities. They may also include the use ofderivatives (i.e. investments the prices of which are based on one ormore underlying assets).The Fund may also engage in short-term secured lending of itsinvestments to certain eligible third parties. This is used as a meansof generating additional income and to off-set the costs of the Fund.Recommendation: This Fund may not be appropriate for short-terminvestment.Your units will be accumulating (i.e. dividend income will be includedin their value).Your units will be denominated in Sterling, the Fund's base currency.You can buy and sell your units daily. The minimum initial investmentfor this unit class is £100,000.

Risk and Reward ProfileLower risk Higher riskTypically lower rewards Typically higher rewards

1 2 3 4 5 6 7

The risk indicator was calculated incorporating simulated historicaldata and may not be a reliable indication of the future risk profile ofthe Fund.The risk category shown is not guaranteed and may change over time.The lowest category does not mean risk free.The Fund is rated four due to the nature of its investments whichinclude the risks listed below. These factors may impact the value ofthe Fund’s investments or expose the Fund to losses.- 'Credit Risk' and/or changes to interest rates will have a

significant impact on the performance of fixed income securities

issued by companies. Potential or actual credit rating downgradesmay increase the level of perceived risk.

- Derivatives are highly sensitive to changes in the value of theasset they are based on. The impact to the Fund is greater wherederivatives are used in an extensive or complex way.

Particular risks not adequately captured by the risk indicator include:- Counterparty Risk: The insolvency of any institutions providing

services such as safekeeping of assets or acting as counterpartyto derivatives or other instruments, may expose the Fund tofinancial loss.

- Credit Risk: The issuer of a financial asset held within the Fundmay not pay income or repay capital to the Fund when due.

- Liquidity Risk: Lower liquidity means there are insufficient buyersor sellers to allow the Fund to sell or buy investments readily.

For more information on risks, please see the Fund's prospectus, whichis available at www.blackrock.com.

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

ChargesThe charges are used to pay the costs of running the Fund, including thecosts of marketing and distributing it. These charges reduce the potentialgrowth of your investment.

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

* Subject to a charge of up to 2% paid into the Fund where the Managersuspects excessive trading by an investor.

The ongoing charges figure is based on expenses for the twelve monthperiod ending 23 August 2013. This figure may vary from year to year. Itexcludes portfolio trade-related costs, except costs paid to the custodianand any entry/exit charge paid to an underlying collective investmentscheme (if any).

** To the extent the Fund undertakes securities lending to reduce costs,the Fund will receive 60% of the associated revenue generated and theremaining 40% will be received by BlackRock as the securities lendingagent. As securities lending revenue sharing does not increase the costsof running the Fund, this has been excluded from the ongoing charges.

For more information on charges, please see the Fund's prospectus,which is available at www.blackrock.com.


Entry Charge None

Exit Charge None*

This is the maximum that might be taken out of your money before it is invested or beforeproceeds of your investments are paid out.

Charges taken from the Fund over each year

Ongoing Charges 0.17%**

Charges taken from the Fund under certain conditions

Performance Fee None

Past PerformancePast performance is not a guide to futureperformance.

The chart shows the Fund's annualperformance in GBP for each full calendaryear over the period displayed in the chart. Itis expressed as a percentage change of theFund's net asset value at each year-end. TheFund was launched in 2010. The share classwas launched in 2012.

Performance is shown after deduction ofongoing charges. Any entry/exit charges areexcluded from the calculation.

This chart has been left intentionally blank as there is less than one year's performance data.

Practical InformationThe trustee of the Fund is BNY Mellon Trust & Depositary (UK) Limited. Thetrustee has delegated the function of custodian of the Fund to the Bank ofNew York Mellon (International) Limited.Further information about the Fund can be obtained from the Fund'sprospectus and the latest annual report and half-yearly reports of theBlackRock Collective Investment Funds (BCIF). These documents are availablefree of charge in English. These can be found, along with other information,such as unit prices, on the BlackRock website at www.blackrock.com or bycalling Investor Services on 0800 44 55 22.Investors should note that the tax legislation that applies to the Fund may havean impact on the personal tax position of your investment in the Fund.The Fund is a sub-fund of BCIF, an umbrella structure comprising differentsub-funds. This document is specific to the Fund and unit class stated at thebeginning of this document. However, the prospectus, annual and half-yearlyreports are prepared for the umbrella.

BlackRock Fund Managers Limited may be held liable solely on the basis ofany statement contained in this document that is misleading, inaccurate orinconsistent with the relevant parts of the Fund's prospectus.Further information about other unit classes can be found in the Fund'sprospectus.The assets of the Fund are held on trust for its unitholders under English trustlaw which means that its assets cannot be used to discharge the liabilities ofother sub-funds within BCIF. In addition, the Fund's assets are held separatelyfrom the assets of other sub-funds.Investors may switch their units in the Fund for units in another sub-fundwithin BCIF, subject to meeting certain conditions as set out in theprospectus.

This Fund and its manager, BlackRock Fund Managers Limited, are authorised in the UK and regulated by the FinancialConduct Authority.This Key Investor Information is accurate as at 30 September 2013

BlackRock UK Gilts All Stocks TrackerFundA sub-fund of BlackRock Collective Investment Funds

Class D Accumulating GBPISIN: GB00B83HGR24

Manager: BlackRock Fund Managers Limited

Objectives and Investment PolicyThe Fund aims to achieve a return on your investment, through acombination of capital growth and income on the Fund’s assets, bytracking closely the performance of the FTSE Actuaries UKConventional Gilts All Stocks Index, the Fund’s benchmark index.The Fund invests in fixed income securities (such as bonds) that makeup the benchmark index and, at the time of purchase, comply withthe credit rating requirements of the benchmark index.The Fund’s benchmark index measures the performance of Sterlingdenominated United Kingdom (UK) Government fixed incomesecurities (gilts). The fixed income securities will have a credit ratingwhich reflects that of the UK Government. The fixed income securitieswill pay income according to a fixed rate of interest.The Fund uses techniques to achieve a similar return to itsbenchmark index. These techniques may include the strategicselection of certain securities that make up the benchmark index or

other fixed income securities which provide similar performance tocertain constituent securities. They may also include the use ofderivatives (i.e. investments the prices of which are based on one ormore underlying assets).The Fund may also engage in short-term secured lending of itsinvestments to certain eligible third parties. This is used as a meansof generating additional income and to off-set the costs of the Fund.Recommendation: This Fund may not be appropriate for short-terminvestment.Your units will be accumulating (i.e. dividend income will be includedin their value).Your units will be denominated in Sterling, the Fund's base currency.You can buy and sell your units daily. The minimum initial investmentfor this unit class is £100,000.

Risk and Reward ProfileLower risk Higher riskTypically lower rewards Typically higher rewards

1 2 3 4 5 6 7

The risk indicator was calculated incorporating simulated historicaldata and may not be a reliable indication of the future risk profile ofthe Fund.The risk category shown is not guaranteed and may change over time.The lowest category does not mean risk free.The Fund is rated four due to the nature of its investments whichinclude the risks listed below. These factors may impact the value ofthe Fund’s investments or expose the Fund to losses.

- Fixed income securities issued by governments can be affected bythe perceived stability of the country concerned and proposed oractual credit rating downgrades.

Particular risks not adequately captured by the risk indicator include:- Counterparty Risk: The insolvency of any institutions providing

services such as safekeeping of assets or acting as counterpartyto derivatives or other instruments, may expose the Fund tofinancial loss.

- Credit Risk: The issuer of a financial asset held within the Fundmay not pay income or repay capital to the Fund when due.

- Liquidity Risk: Lower liquidity means there are insufficient buyersor sellers to allow the Fund to sell or buy investments readily.

For more information on risks, please see the Fund's prospectus, whichis available at www.blackrock.com.

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

ChargesThe charges are used to pay the costs of running the Fund, including thecosts of marketing and distributing it. These charges reduce the potentialgrowth of your investment.

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

* Subject to a charge of up to 2% paid into the Fund where the Managersuspects excessive trading by an investor.

The ongoing charges figure is based on expenses for the twelve monthperiod ending 23 August 2013. This figure may vary from year to year. Itexcludes portfolio trade-related costs, except costs paid to the custodianand any entry/exit charge paid to an underlying collective investmentscheme (if any).

** To the extent the Fund undertakes securities lending to reduce costs,the Fund will receive 60% of the associated revenue generated and theremaining 40% will be received by BlackRock as the securities lendingagent. As securities lending revenue sharing does not increase the costsof running the Fund, this has been excluded from the ongoing charges.

For more information on charges, please see the Fund's prospectus,which is available at www.blackrock.com.


Entry Charge None

Exit Charge None*

This is the maximum that might be taken out of your money before it is invested or beforeproceeds of your investments are paid out.

Charges taken from the Fund over each year

Ongoing Charges 0.16%**

Charges taken from the Fund under certain conditions

Performance Fee None

Past PerformancePast performance is not a guide to futureperformance.

The chart shows the Fund's annualperformance in GBP for each full calendaryear over the period displayed in the chart. Itis expressed as a percentage change of theFund's net asset value at each year-end. TheFund was launched in 2005. The share classwas launched in 2012.

Performance is shown after deduction ofongoing charges. Any entry/exit charges areexcluded from the calculation.

This chart has been left intentionally blank as there is less than one year's performance data.

Practical InformationThe trustee of the Fund is BNY Mellon Trust & Depositary (UK) Limited. Thetrustee has delegated the function of custodian of the Fund to the Bank ofNew York Mellon (International) Limited.Further information about the Fund can be obtained from the Fund'sprospectus and the latest annual report and half-yearly reports of theBlackRock Collective Investment Funds (BCIF). These documents are availablefree of charge in English. These can be found, along with other information,such as unit prices, on the BlackRock website at www.blackrock.com or bycalling Investor Services on 0800 44 55 22.Investors should note that the tax legislation that applies to the Fund may havean impact on the personal tax position of your investment in the Fund.The Fund is a sub-fund of BCIF, an umbrella structure comprising differentsub-funds. This document is specific to the Fund and unit class stated at thebeginning of this document. However, the prospectus, annual and half-yearlyreports are prepared for the umbrella.

BlackRock Fund Managers Limited may be held liable solely on the basis ofany statement contained in this document that is misleading, inaccurate orinconsistent with the relevant parts of the Fund's prospectus.Further information about other unit classes can be found in the Fund'sprospectus.The assets of the Fund are held on trust for its unitholders under English trustlaw which means that its assets cannot be used to discharge the liabilities ofother sub-funds within BCIF. In addition, the Fund's assets are held separatelyfrom the assets of other sub-funds.Investors may switch their units in the Fund for units in another sub-fundwithin BCIF, subject to meeting certain conditions as set out in theprospectus.

This Fund and its manager, BlackRock Fund Managers Limited, are authorised in the UK and regulated by the FinancialConduct Authority.This Key Investor Information is accurate as at 30 September 2013

Cazenove UK Smaller Companies Fund X Class Accumulation 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.

Cazenove UK Smaller Companies Fund X Class Accumulation ISIN: GB0007220360

A sub-fund of Cazenove Investment Fund Company (CIFCO) SEDOL: 0722036

This fund is managed by Cazenove Investment Fund Management Limited (CIFM)

Objectives and Investment Policy The fund seeks to achieve long term capital growth.

The fund buys high quality UK listed smaller companies capable of producing above average growth in earnings and dividends over the medium to long term.

The fund has a broadly spread portfolio that reduces the specific investment risks of smaller companies.

You can buy and sell shares in the fund on demand on any day on which the London Stock Exchange is open for business.

The fund's benchmark is the FTSE SmallCap (ex IT) Index.

The fund selects its own investments.

The fund may not be appropriate if you plan to withdraw your money within 5 years.

The shares are accumulation shares. This means that any income received into the fund from its investments is retained within the fund on its distribution date rather than being paid out. This retained income is reflected in the share price. There are two distribution date(s) each year.


Lower risk Higher risk


1 2 3 4 5 6 7

The risk indicator for this fund is 6 because:

The fund invests in small companies which may be risky and may be difficult to sell with the result that the fund's share price may fluctuate more markedly than a fund that invests in larger companies.

Investment in shares and/or bonds is subject to normal market fluctuations. There is no assurance that your investment will increase in value. Your original investment is not guaranteed.

The value of the fund may fluctuate significantly in response to the performance of individual companies, as well as in connection with market and economic conditions.

The fund's risk profile is based on historical data and this may not be a reliable indicator of its future risk profile.

The lowest risk category does not mean an investment is risk free.

The risk category shown is not a target or a guarantee and may change over time.

Other relevant risks:

Operational risk: The risk that there is a significant loss to the fund from human error, systems failure, inadequate controls or internal management mistakes.

Settlement risk: The risk of loss if there is late or non payment for the assets sold by the fund.

Liquidity risk: The risk that it is hard for the fund to buy or sell shares for its portfolio because of a reduction of buying and selling activity in stock markets.

Valuation risk: The risk that an asset held by the fund is mispriced.

Further details on risk are set out in the Prospectus in the section Risk Factors.

This fund is authorised in the United Kingdom and regulated by the Financial Services Authority. Cazenove Investment Fund Management Limited

is authorised in the United Kingdom and regulated by the Financial Services Authority. This key investor information is accurate as at 31/01/2013.

Cazenove UK Smaller Companies Fund X Class Accumulation Page | 2

Charges

The charges you pay contribute to the costs of running the fund, including the cost of distributing it, reducing the potential growth of your investment.

You can find out the actual entry and exit charge from your financial adviser or distributor.

The ongoing charge is taken from the fund's income rather than its investments.

The ongoing charge figure is based on last year's expenses, year-ending December 2012. This figure may vary from year to year. It excludes the cost of buying and selling investments held by the fund.

For more information on charges please see the Charges & Expenses section of the Prospectus.


Entry charge 0.00%

Exit charge 0.00%


Ongoing charges 0.86%


Performance fee none

Past Performance

Note1:The fund performance was achieved under circumstances that no longer apply.

Past performance is calculated in GBP.

Past performance is not indicative of future performance. It cannot provide a guarantee of returns that you will receive in the future.

The value of your investment and income from it may go down as well as up and you may not get back the amount you invested. All fees and charges are included in the performance calculation.

The fund was launched on 06 May 1999 and issued X Class Accumulation shares on 06 May 1999.


CIFCO is an umbrella structure comprising this and other sub-funds. The fund's current share price is calculated on

each Business Day and is published daily on our website. The depositary of the fund is J.P. Morgan Trustee and

Depositary Company Limited.

You may switch between this fund's share classes and other sub-funds of CIFCO as long as you meet the appropriate

requirements.

The tax legislation of the fund's home Member State and of your country of residence may impact on the buying and

selling of shares and any distributions paid by the fund. Taxation is subject to change. You should consult your

professional adviser if you have any questions.

The assets and liabilities of each sub-fund are segregated by law therefore a sub-fund will not be liable for the debts of

another sub-fund if the assets are insufficient to meet its liabilities.

CIFM 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.

This Key Investor Information document (KIId) is specific to this share class. KIIds are available for other share

classes within this fund. However, the Prospectus and annual and half-yearly Report and Accounts are prepared to

cover all sub-funds of CIFCO.

Further information about the fund including other share classes, switching and dealing can be found in the

Prospectus, available in English, and also in the latest annual and half-yearly Report and Accounts (English only)

which are available free of charge by calling +44 (0)20 3479 0000 or can be downloaded from the Literature Library

section of our website www.cazenovecapital.com.

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Fund 30.0 19.8 20.7 36.6 -3.3 -42.1 73.3 34.1 2.0 37.7

Benchmark 40.9 13.1 19.0 22.9 -17.9 -48.3 57.7 16.9 -15.2 36.3

-60

-40

-20

0

20

40

60

80

%

Note1

Key Investor InformationThis document provides you with key investor information about this Fund. It is not marketingmaterial. The information is required by law to help you understand the nature and the risks ofinvesting in this Fund. You are advised to read it so you can make an informed decision aboutwhether to invest.

F&C US Smaller Companies FundShare Class: C Dis, a Fund of F&C Investment Funds ICVC II, (ISIN GB00B7YDFB99)This Fund is managed by F&C Fund Management Ltd, part of the F&C Asset Management Group.

Objective and Investment Policy

The objective is to provide capital growth.

The Manager seeks to achieve this by investing mainly in adiversified spread of equities (ordinary shares in companies) ofUS smaller and medium sized companies. Typically these arecompanies with a market capitalisation of less than $5bn at thetime of purchase. This will normally mean that the US's largestcompanies by market capitalisation are excluded from the Fund.

While the Manager will invest mainly in equities, it may alsoinvest in securities issued by the Government of the UnitedStates. The Manager may also invest in derivatives (aninvestment contract between the Fund and a counterparty thevalue of which is derived from one or more underlying equities)to hedge positions or to gain exposure to companies to managethe portfolio efficiently.

Hedging is an investment technique that may be used to protectthe value of the Fund from adverse price movements in equitiesor currencies other than the Fund's accounting currency, whichis sterling. The Fund does not normally hedgecurrency exposure.

Income is distributed annualy.

There is no minimum holding period for this Fund.

You may buy or sell units on demand (but not weekends or UKbank holidays or other days when the Fund is not open fordealing). Orders to buy or sell must be received before 5.00pm(UK time) to receive the price calculated at the following day'svaluation point.


The shaded area of the table below shows where the Fundranks in terms of its potential risk and reward based on historicFund data.



1 2 3 4 5 6 7

Historical data may not be a reliable indicator of the Fund'sfuture risk and reward profile. The category shown is notguaranteed and may change over time. The lowest categorydoes not mean 'risk free'. The value of your investment may fallas well as rise.

The category is based on the rate at which the value of theinvestments held by the Fund have moved up and down inthe past.

The indicator does not adequately reflect the following risks ofinvesting in particular assets, which may impact on futureinvestment return:

Smaller companies risk: smaller companies carry a higherdegree of risk and their value can be more sensitive tomarket movement.

Liquidity Risk: the ability to buy and sell assets at a favourableprice may be affected by a low level of counterparties willing toenter into a transaction with the Fund.

Currency Risk: your investment may be adversely affected bychanges in currency exchange rates.

Derivative Risk: derivative values rise and fall at a greater ratethan equities and debt instruments. Losses can be greater thanthe initial investment.

Charges

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

One-off charges taken before or after you investEntry charge noneExit charge noneThis is the maximum that might be taken out of your money before it isinvested and before the proceeds of your investment are paid out.

Charges taken from the fund over a yearOngoing charge 0.83%

Charges taken from the fund under certain specificconditionsPerformance fee none

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

The ongoing charges figure shown here is an estimate of theannualised charges. An estimate is being used because thisparticular share class is newly launched. The Fund's annualreport for each financial year will include detail on the exactcharges made. It excludes:

· Performance fees

· Portfolio transaction costs, except in the case of an entry/exitcharge paid by the UCITS when buying or selling units inanother collective investment undertaking.

For more information about charges, please see the sectionentitled Fees and Expenses in the Fund's prospectus, which isavailable at www.fandc.com.

Past Performance

There are insufficient data to provide a useful

indication of past performance.

2008 2009 2010 2011 2012

This chart shows how much the Fund increased or decreased invalue as a percentage in each year. Past performance has beencalculated in GBP and takes account of ongoing charges. Anyentry/exit fees are excluded from the calculation.

The Fund was launched on 01/09/1983 and the share class in2012.

Past performance is not a reliable guide to futureperformance.


The Depositary for the Fund is State Street Bank and TrustCompany.

You can obtain further information about the Fund, copies of theprospectus, annual report and accounts and half-yearly reportsand accounts, free of charge, from Retail Sales Support, F&CInvestments, 80 George Street, Edinburgh, EH2 3BU,telephone: Sales Support on 0800 085 0383, email: [email protected]. They are also available electronically atwww.fandc.com. These documents are each available inEnglish.

The Fund is part of F&C Investment Funds ICVC II. You mayswitch between other funds or share-classes of F&C InvestmentFunds ICVC II. An entry charge may apply. Details on switchingare provided in the Fund's prospectus.

The assets and liabilities are segregated by law between thedifferent funds of F&C Investment Funds ICVC II. This meansthat the Fund's assets are held separately from other funds.Your investment in the Fund will not be affected by any claimsmade against any other fund in F&C Investment Funds ICVC II.

Other practical information, including the latest published priceis available on our web site www.fandc.com.

The tax legislation of the United Kingdom may have an impactupon your own personal tax position depending on your countryof residence.

F&C Fund Management Ltd may be held liable solely on thebasis of any statement contained in this document that ismisleading, inaccurate or inconsistent with the relevant parts ofthe prospectus for the Fund.

This Fund is authorised in the United Kingdom and regulated by the Financial Services Authority (FSA). F&C Fund Management Ltd is authorisedin the United Kingdom and regulated by the Financial Services Authority. This key investor information is accurate as at 31 January 2013.




Typically lower rewards Typically higher rewards

1 2 3 4 5 6 7

• The risk category was calculated using historical volatility

data, based upon the methods set by European Union

rules. Volatility is influenced by changes in the stock

market prices, currencies and interest rates which can

be affected unpredictably by diverse factors including

political and economic events.

• The risk category may not be a reliable indication of the

future risk profile of the fund.

• The risk category shown is not guaranteed and may shift

over time.

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

• Aims to achieve long term capital growth by closely matching the performance of the FTSE All-Share Index.

• Aims to hold the larger company shares that represent the benchmark index and hold a selection of smaller capitalised

company shares to align the fund as closely as possible to the benchmark index.

• May use stock index futures to achieve the investment objective.

• Can use derivatives with the aim of risk or cost reduction or to generate additional capital or income in line with the fund's

risk profile.

• Income is accumulated in the share price.

• Shares can usually be bought and sold each business day of the fund.

• This fund may not be appropriate for investors who plan to sell their shares in the fund within 5 years. Investment in the

fund should be regarded as a long-term investment.

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 MoneyBuilder UK Index Fund,

a sub-fund of Fidelity Investment Funds,

I Accumulation Shares (ISIN: GB00BCRWZR43) This fund is managed by FIL Investment Services (UK) Limited

Charges for this fund (ISIN: GB00BCRWZR43)

Past Performance


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 13/12/2013.

• 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 Share 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 sub-fund and share class of Fidelity Investment Funds (the 'investment company'). The

Prospectus and Reports and Accounts are prepared for the entire investment company.

• 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 investment company.

• The assets and liabilities of each sub-fund of Fidelity Investment Funds are segregated by law and with that assets of this

sub-fund will not be used to pay liabilities of other sub-funds.

• More share classes are available for this investment company. Details can be found in the Prospectus.

• You have the right to switch from this share class into the same or possibly other share class types of this or another sub-

fund. Details on switching rules can be found in the Prospectus.

Past performance is not a guide to

future performance results.

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

10/01/1996. This class was launched

on 19/09/2013.

Past performance has been calculated

in GBP.

There is insufficient data to provide a

useful indication of past performance

to investors.

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.

0%

10%

20%

30%

40%

50%

2008 2009 2010 2011 2012

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

charges reduce the potential growth of your investment.

The entry and exit charges shown are maximum figures. In some

cases you might pay less - you can find this out from your financial

adviser / distributor.

The ongoing charges figure shown here for this new class is an

estimate of the charges. This figure may vary from year to year. It

excludes:

• performance fees;

• 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.


Entry charge N/A

Exit charge N/A

Switching charge N/A

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



Performance fee N/A

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

First State Global Property Securities Fund

Class B (Accumulation) GBP (Fund) ISIN GB00B1F76N79

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

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

Objectives and investment policy

Objective: The Fund aims to provide income and grow your investment.

Policy: The Fund invests in shares of companies that are involved in property around the world.

The Fund does not invest directly in property assets.

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

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

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

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

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

Risk and reward profile

◄ Lower Risk Higher Risk ►Potentially Lower Rewards Potentially Higher Rewards

1 2 3 4 5 6 7

• The synthetic risk reward indicator (the SRRI) rating is not a measure of therisk of you losing your investment but describes how much the value of theFund went up and down in the past.

• The SRRI rating is based on historical data which may not be a reliableindication of the future risks and rewards of the Fund.

• We cannot guarantee that the rating of the Fund will remain the same; itmay change over time.

• Even the lowest rating 1 does not mean a risk free investment.• On a scale of 1 (less risky) to 7 (more risky), this Fund has a rating of 7 due

to its past performance and the nature of its investments. Shares with arating of 7 might have higher risks, but also higher returns.

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

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

Material risks not adequately captured by the SRRI:• Property securities risk: the Fund invests in the shares of companies

that are involved in property (like real estate investment trusts) rather than property itself. The value of these investments may fluctuate more than actual property.

• Single sector risk: investing in a single sector may be riskier than investing in a number of different sectors.

• Currency risk: movements in currency exchange rates could negatively affect the value of your investment.

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

Page 1/2

Charges for this Fund

The charges are used to pay the costs of running the Fund, including the costsof marketing and distributing it. These charges reduce the potential growthof your investment.One-off charges taken before or after you invest.

Entry charge 4.00%Exit charge N/AThis is the maximum that might be taken out of your money before it isinvested.Charges taken from the fund over a year

Ongoing charge 1.11%

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

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

The ongoing charge is based on expenses for the year ending July 2012. It may vary from year to year. It excludes portfolio transaction costs and performance fees, if any.

The fees and expenses are charged against the capital of the Fund. Deducting expenses from capital reduces the potential for capital growth.

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

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

Past performance

-10.6%

-27.3%

28.7% 26.3%

-0.3%

17.8%

-60

-40

-20

0

20

40

%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Year

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

The Fund launched on 12 September 2006.

The past performance of the Fund is calculated in GBP.

Practical information

Depositary: National Westminster Bank Plc.

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

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

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

Liability statement: The Company may be held liable solely on the basis ofany statement contained in this document that is misleading, inaccurate orinconsistent with the relevant parts of the prospectus for the Company.

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

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

This Fund is authorised in the UK and regulated by the Financial Conduct Authority. First State Investments (UK) Limited is authorised and regulated in the UK by the FinancialConduct Authority.

This key investor information is accurate as at 07 October 2013. Page 2/2

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

GLG Global Corporate Bond Fund Professional Accumulation Shares (Class C)(ISIN: GB00B0118851) GLG Global Corporate Bond Fund (the 'Fund') is a sub-fund of GLG Fixed Interest ICVC (the 'Company').

GLG Partners Investment Funds Limited, part of Man Group plc, is the Authorised Corporate Director of the Company.


The Fund seeks above average total return (income and capital appreciation) through investing, directly or indirectly, primarily in global investment grade bonds comprised principally of fixed income securities issued by companies and governments.

Fixed income securities may be issued by any government, company or international agency with a rating of at least BBB- by Standard and Poor's or Baa3 by Moody's Investor Services(or an equivalent rating by other rating agencies).

The Fund may use financial derivative instruments (instrumentswhose prices are dependent on one or more underlying asset)extensively for investment purposes as well as for hedging (thepractice of undertaking one investment activity with the aim of protecting against loss in another) or other efficient portfolio management purposes. We do not expect the Fund to have increased market exposure as a result of such investments.

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




The lowest category does not mean 'risk free'.

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

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

The risk category for this share class is set as 5 as the Fund engages in strategies that typically have a moderate to high volatility. The calculation is based on either the historical volatility or risk limit of the Fund.

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

Emerging markets experience specific risks due to increased volatility, illiquidity, political and economic instability, market turmoil, settlement risk and relatively weak regulatory standards.

The use of financial derivative instruments (''FDI'') involves additional risks. FDI may be highly sensitive to price movements of the asset on which the contract is based. A counterparty to a non-exchange traded FDI may not meet its payment obligations in the event of default. These risks may lead to significant losses.

Liquidity characteristics of non-exchange listed investments can be irregular, and may result in higher than anticipated costs to close the position.

A limited number of investments may be held which can increase the volatility of performance.

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

Charges

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

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

The ongoing charges figure is based on expenses for the year ending 30 June 2012.

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

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

For more information on charges and fees please see the 'Fees and Expenses' section of the prospectus.


Entry charge None

Exit charge None

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

Charges taken from the Fund over a year


Charges taken from the Fund under certain specific conditions

Performance fee None

Past Performance

. GLG Global Corporate Bond Fund Professional Accumulation Shares (Class C)

-60%

-40%

-20%

0%

20%

40%

60%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 3.2 -13.1 7.1 45.9 7.2 14.8 -1.2 11.1

The Fund was authorised in 2004.

This share class was launched in 2004.

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

The performance in this table includes all fees and expenses, excluding any entry or exit charges, and shows percentage year-on-year changes in fund value.

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


The Fund is a sub-fund of the Company which is an umbrella company comprising a number of sub-funds.

National Westminster Bank plc is the depositary of the Company. The Fund's assets are treated as being segregated from the assets of other sub-funds of the Company.

Additional information related to the Fund is located in the prospectus. The prospectus is available together with the most recent financial statements, information on other share classes and the latest prices of shares free of charge at www.man.com.

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

GLG Partners Investment Funds Limited may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the Fund.

You may switch shares in the Fund for shares in any other fund of the Company. Further information and provisions are inthe prospectus.

The Fund is a "UCITS scheme" for the purposes and rules of the Financial Conduct Authority. The Company and GLG Partners Investment Funds Limited are authorised in the UK and regulated by the Financial Conduct Authority.

This key investor information is accurate as at 11 June 2013.

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

Objectives and investment policy� To provide long term capital growth by matching the return of

the Standard & Poors 500 Index.� To invest in companies that make up the Standard & Poors 500

Index.� The Fund can use borrowing and may also use a technique known

as efficient portfolio management which aims to reduce riskor cost to the fund in circumstances where this is likely to beof benefit.

� The Fund is currently tracking the index using a full replicationstrategy.

� Recommendation: this Fund may not be appropriate for investorswho plan to withdraw their money within 5 years.

Risk and reward profileLower risk Higher risk


1 2 3 4 5 6 7More about this rating

The rating is based on price volatility over the last five years, andis an indicator of absolute risk. Historical data may not be a reliableindication for the future. The rating is not guaranteed to remainunchanged and the categorisation may shift over time.The lowestrating does not mean a risk-free investment.

Why is this fund in category 6?

Equity prices tend to fluctuate more than other asset classes asinvestors directly participate in underlying companies and theirearnings.

Material risks not adequately captured by the riskrating above

� Exchange rate risk Investing in assets denominated in a currencyother than thatof the investor’sowncurrencyperspectiveexposesthe value of the investment to exchange rate fluctuations.

� Derivative risk The value of derivative contracts is dependentupon the performance of an underlying asset.A small movementin the value of the underlying can cause a large movement inthe value of the derivative. Unlike exchange traded derivatives,over-the-counter (OTC) derivatives have credit risk associatedwith the counterparty or institution facilitating the trade.

� IndexTracking risk The performance of the Fund may not matchthe performance of the index it tracks because of fees andexpenses, market opening times and regulatory constraints.

� Operational risk The main risks are related to systems andprocess failures. Investment processes are overseen byindependent risk functions which are subject to independentaudit and supervised by regulators.

�Key Investor Information

American Index FundAccumulation C GB00B80QG615

A sub-fund of HSBC Index Tracker Investment Funds, an open ended investment company (“OEIC”), managed by HSBC GlobalAsset Management (UK) Limited.

Accumulation C GB00B80QG615 1 of 2

Charges for this fundThe charges you pay are used to pay the running costs of the fund,including the marketing and distribution costs.These charges reducethe potential growth of the investment.

One-off charges taken before or after you investEntry charge 0.00%Exit charge 0.00%Charges taken from the fund over a yearOngoing charge 0.18%Charges taken from the fund under certain specificconditionsPerformance fee None

The Entry and Exit charges shown are the maximum that may becharged. In some cases you may pay less.You can obtain the actualcharges from your financial adviser.

The ongoing charges figure shown here is an estimate of the chargesas the share class has not been priced for a full financial year. Thefund’s annual report for each financial year will include detail on theexact charges made.

Further information on Charges can be found in the Fees and Expensessection of the full Prospectus.

Past performance

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

13.6

1.3

16.5

0.11.8

-16.5

15.2

18.1

2.5

8.0

15.7

3.4

17.3

1.6

3.7

-12.8

12.6

18.7

2.9

10.9

Fund Benchmark

Warning: the performance returns before the change to charges on01/09/2009 were achieved under circumstances that no longer apply.

Past performance is not a guide to future performance; the valueof your investment and any income from it can go down as well asup. The past performance of this share class is calculated in GBP.

Performance returns are based on the net asset value with distributableincome reinvested. Past performance takes account of all ongoingcharges, but not entry and exit charges.

The fund was launched on 31/10/1988.

The investment benchmark for the fund is the S&P 500 Gross.

Performancereturnsprior to thefirstshareclasspricedateof03/09/2012have been simulated using the track record of an older share class.

Practical informationDepositary

State StreetTrustees Limited, 525 Ferry Road, Edinburgh, EH52AW.

Further information

Further information about the OEIC including the latest Prospectus,latest published prices of shares, annual report and half yearlyreport may be obtained free of charge, in English, from theadministrator, HSBC Global Asset Management (UK) Limited,PO Box 6189, Coventry, CV3 9HS or by visitingwww.assetmanagement.hsbc.com.The most recent Prospectusis available in English. This document describes a single shareclass of the OEIC.The Prospectus, annual and half yearly reportsare prepared for the entire OEIC.

Share classes

Other share classes are available, as detailed in the Prospectus.It is possible to switch your shares into shares of a different shareclass or Fund within the OEIC. Details of how to do this are inthe Prospectus (please note an initial charge may apply).

Tax

UK tax legislation may have an impact on your personal position.

Authorised Corporate Director

HSBC Global Asset Management (UK) Limited may be held liablesolely on the basis of any statement contained in this documentthat is misleading, inaccurate or inconsistent with the relevantparts of the Prospectus for the OEIC.

Allocation of Assets and Liabilities

The OEIC is an umbrella investment company with segregatedliability between sub-funds.This means that the holdings of onesub-fundarekeptseparate fromtheholdingsof theothersub-fundsand your investment in the Fund cannot be used to pay the liabilitiesof any other sub-fund.

Authorisations

The Fund is authorised in the United Kingdom and regulated bythe Financial ConductAuthority. HSBC GlobalAsset Management(UK) Limited is authorised in the United Kingdom and regulatedby the Financial Conduct Authority.

Publication date

This key investor information is accurate as at 21 November 2013.

Accumulation C GB00B80QG615 2 of 2

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

Ignis European Smaller Companies Fund (The 'Fund')Class I units, Accumulation, GBP, ISIN: GB00B249N852.Ignis Fund Managers Limited is the manager of the Fund.

Objectives and investment policyTo provide capital growth by investing mainly in a portfolio ofContinental European smaller companies excluding UK.

Any income the Fund generates will be reinvested to grow the valueof your investment.

You can buy and sell units on any working day in London.

Recommendation: this Fund may not be appropriate for investorswho plan to withdraw their money within 5 years. For full investmentobjectives and policy details please refer to the Prospectus.

Risk and reward profileThe Risk and Reward Indicator table demonstrates where the Fundranks in terms of its potential risk and reward. The higher the rank thegreater the potential reward but the greater the risk of losing money. Itis based on past data, may change over time and may not be a reliableindication of the future risk profile of the Fund. The shaded area in thetable below shows the Fund’s ranking on the Risk and Reward Indicator.

Typically lower rewards,lower risk

Typically higher rewards,higher risk

1 2 3 4 5 6 7

• This Fund is ranked at 6 because funds of this type have experiencedhigh rises and falls in value in the past. Although this is a high risk rankingit is not the highest. Please note that even the lowest risk class can loseyou money and that extreme market circumstances can mean you suffersevere losses in all cases. Please note the Fund’s risk category maychange in the future. The indicator does not take into account thefollowing risks of investing in this Fund:

• Investing overseas can bring additional returns and spread risk todifferent markets. There are risks, however, that changes in currencyrates will reduce the value of your investment.

• The Investment Manager may find smaller companies more difficult tobuy and sell than larger companies.

Page 1 of 2.

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

One-off charges taken before or after you investEntry charge 5.25%Exit charge 0.00%

These are the maximum charges that we might take out of your moneybefore it is invested and before we pay out the sale proceeds of yourinvestment. In some cases, you might pay less and you should speakto your financial adviser about this.

Charges taken from the Fund over a yearOngoing charges 0.91%

Charges taken from the Fund under specific conditionsPerformance fee NONE

• Switching charge (for switching into the Fund from another fund)0.00%.

• The ongoing charges figure is based on the last year’s expensesand may vary from year to year. It excludes the costs of buyingor selling assets for the Fund (unless these assets are shares ofanother fund).

• The ongoing charges figure is calculated at 31/08/12.• You will find further details about the calculation of charges by

checking the relevant section of the Prospectus.

Past performance

-35 -30 -25 -20 -15 -10

-5 0 5

10 15 20 25 30 35 40

2008

2009

2010

2011

2012

%

2008 2009 2010 2011 2012

Fund -30.9 38.3 26.0 -21.1 28.1

Source: FE 2013

• You should be aware that past performance is not a guide to futureperformance.

• The Fund was launched on 01/11/2007.• The share/unit class was launched on 01/11/2007.• Performance is calculated in GBP.• The past performance information shown takes account of all

charges and costs with the exception of the entry charge.

Practical information• The Trustee of the Fund is Citibank International Plc.• Further detailed information regarding the Fund, its Prospectus, its latest annual reports and any subsequent half-yearly reports (including

information on how to switch, buy and sell units of the Fund and other unit classes available), is available free of charge from the Fund Manager.You can also obtain these documents through our website or by calling 0800 317 749. These documents are available in English.

• Other practical information, including current prices of units in the Fund, may be obtained at our website www.ignisasset.com• The tax legislation of the United Kingdom may have an impact on your personal tax position. Please consult your tax advisor with regard to

the tax consequences of investing in the Fund.• Ignis Fund Managers Ltd may be held liable solely on the basis of any statement contained within this document that is misleading, inaccurate

or inconsistent with the relevant parts of the Prospectus for the UCITS.• This document describes only one unit class, I units, GBP accumulation units of the Fund. You may obtain information on other unit classes

of this Fund which are available in your country at www.ignisasset.com• The Fund is authorised in the United Kingdom, and regulated by the Financial Services Authority. Ignis Fund Managers Ltd is authorised in

the United Kingdom, and regulated by the Financial Services Authority.

This Key Investor Information is accurate as at 15/02/2013.A5X2

Page 2 of 2.

www.kamescapital.com 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.

Kames High Yield Bond Fund a sub-fund of Kames Capital ICVC

Sterling Class B - Accumulation shares (ISIN: GB0031425563)

This fund is managed by Kames Capital plc.

Objectives and investment policy

Objective: to provide a combination of capital growth and income.

Policy: invests predominantly in high yield (higher risk) bonds, investment

grade (lower risk) bonds and cash. Bonds will be issued by companies

and governments worldwide.

The Fund may also invest in derivatives (financial contracts whose value

is linked to an underlying asset).

Within the limits set out above, the Fund is not restricted by market sector.

It is not constrained by any benchmark or index.

The Fund may use investment techniques to manage risks and costs.

These techniques include ‘hedging’ (using derivatives and other financial

contracts to reduce the risk associated with making investments in other

currencies). Up to 20% of the Fund may not be 'hedged' i.e. the Fund is

exposed to the risks of investing in another currency for this portion.

Other information

You can buy, sell or exchange the Fund’s shares on any business day

(see 'Dealing Day' in the Prospectus Definitions for more information).

Income the Fund receives will be reinvested and automatically reflected in

the value of your shares.

Risk and reward profile

1 2 3 4 5 6 7

Lower risk / Higher risk / potentially lower rewards potentially higher rewards

The risk/reward profile shows the risk of investing in the Fund, based on

the rate at which its value has changed in the past. This Fund has the

above risk/reward rating because bond prices can be affected by political

or economic events, and also changes in exchange rates.

The Fund's category is not guaranteed and may change over time. It is

calculated using historical data, which may not be a reliable indication for

the future. Category 1 does not mean 'risk free'.

The following risks, which are not, or are not fully, reflected in the

risk/reward profile are also relevant to the Fund:

Credit: An issuer of bonds may be unable to make payments due to the

Fund (known as a default). The value of bonds may fall as default

becomes more likely. Both default and expected default may cause the

Fund’s value to fall. High yield bonds generally offer higher returns

because of their higher default risk and investment grade bonds generally

offer lower returns because of their lower default risk.

Liquidity: The Fund’s value may fall if bonds become more difficult to

trade or value due to market conditions or a lack of supply and demand.

This risk increases where the Fund invests in high yield bonds.

Counterparty: Investments such as derivatives are made using financial

contracts with third parties. Those third parties may fail to meet their

obligations to the Fund due to events beyond our control. The Fund’s value

could fall because of: (i) loss of monies owed by the counterparty; and/or

(ii) the cost of replacement financial contracts.

Other markets: The Fund may invest in countries which have less

developed political, economic and legal systems and which provide fewer

investor protections. Difficulties in buying, selling, safekeeping or valuing

investments in such countries may reduce the value of the Fund.

Derivatives: The value of derivatives depends on the performance of an

underlying asset. Small changes in the price of that asset can cause larger

changes in the value of the derivative. This increases potential gain but

also potential loss.

Full details of risks are disclosed in the section 'Risk Factors' in the

Prospectus.

Charges The charges you pay are used to pay the costs of running the Fund,

including the costs of marketing and distributing it. These charges reduce

the potential growth of your investment.

One-off charges taken before or after you invest:

Entry charge: 0.00%

Exit charge: 0.00%

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:

Ongoing charges: 0.80%

Charges taken from the Fund under certain specific conditions:

Performance Fee: None

Switches or Conversion:

1ˢᵗ 4 in any calendar year are free, and subject to a charge of 1.5% on each transaction thereafter.

The entry and exit charges shown are the maximum figures, and in some

cases you may pay less. You can find out 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 ongoing charge is based on expenses for the year ending December

2012. This figure may vary from year to year. It excludes any portfolio

transaction costs (except in the case of an entry/exit charge paid by the

Fund when buying and selling shares in another fund).

Ongoing charges are taken from capital rather than income. This may

have a material effect on any capital growth of the Fund.

More detailed information on charges can be found in the “Fees and

Expenses” section of the Prospectus.

Past performance

19.4*

11.7*8.6* 6.5

-0.7

-28.7

58.4

16.1

2.0

17.9

-40

-30

-20

-10

0

10

20

30

40

50

60

70

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Source: Lipper

Past performance is not a guide to future performance.

The Fund launched on 22nd March 2002 and the share class launched on

the same date.

Performance is calculated in Sterling.

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.

* On 1st January 2006, the Fund’s investment objective was changed

materially. Performance shown in the unshaded bars was therefore

achieved under circumstances that no longer apply.


Kames Capital ICVC is a UCITS scheme structured as an umbrella company with various sub-funds, with segregated liability between sub-funds. This

document describes one sub-fund of the UCITS; the Prospectus and the Report and Accounts are prepared for the entire UCITS.

You can exchange your holdings into another share class of the Fund, or another sub-fund of the UCITS, at any time. More detailed information on

exchanging can be found in the 'Buying, Redeeming, Switching and Conversion of Shares' section of the Prospectus.

The assets and liabilities of the Fund are segregated by law. Accordingly, the assets of this Fund belong exclusively to it and may not be used to meet

the liabilities of, or claims against, any other fund within the Kames Capital ICVC. Any liability incurred on behalf of, or attributable to, the Fund shall be

discharged solely out of the assets of the Fund.

The depositary is National Westminister Bank plc.

The prices of shares will be published daily on our website (www.kamescapital.com).

Further information about the Fund and copies of the Prospectus and the latest Annual and Semi-Annual Report and Accounts can be obtained, free of

charge, on our website (www.kamescapital.com) or by calling 0800 45 44 22. These documents are available in English.

You should be aware that tax legislation in the UK (where the Fund is authorised) may have an impact on your personal tax position.

Kames Capital plc 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.

Kames Capital ICVC is authorised in the United Kingdom and regulated by the Financial Conduct Authority (FCA).

This Key Investor Information is accurate as at 18 December 2013.

KEY INVESTOR INFORMATION.This document provides you with key investor information about this fund. It is not marketingmaterial. The information is required by law to help you understand the nature and the risks ofinvesting in this fund. You are advised to read it so you can make an informed decision aboutwhether to invest.

LEGAL & GENERAL EUROPEAN INDEX TRUST I CLASSACCUMULATION ISIN: GB00B0CNGR59, DISTRIBUTION ISIN: GB00B0CNGQ43This fund is managed by Legal & General (Unit Trust Managers) Limited.

OBJECTIVES AND INVESTMENT POLICYThe objective of this fund is to provide growth bytracking the performance of the FTSE World Europe exUK 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 European company shares (excluding UK companies). 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.

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 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 not be appropriate for investors who plan to withdraw their money within five years. The fund may be appropriate if you would like to build on an existing portfolio.

RISK AND REWARD PROFILE


Potentially lower rewards Potentially higher rewards

1 2 3 4 5 6 7

• This risk and reward indicator is based on historical

data which may not be a reliable indication of thefund's risk and reward category in the future.

• The category is based on the rate at which the valueof the fund has moved up and down in the past.

• This fund is in category 7 because it invests inEuropean company shares which generally providehigher rewards and higher risks than otherinvestments such as bonds, cash or commercialproperty.

• The fund's category is not guaranteed to remain thesame and may change over time.

• Even a fund in the lowest category is not a risk freeinvestment.

• The value of your investment and any income youtake from it may fall as well as rise and are notguaranteed. You may not get back the money youinvested.

The indicator opposite does not take account of thefollowing risk of investing in the fund:

• If you use your right to cancel your investment, you maynot get a full refund if the value of your investment fallsbefore we receive your instruction.

CHARGES FOR THIS FUNDThe charges you pay are used to pay the costs of runningthe fund, including the costs of marketing anddistributing it. These charges reduce the potential returnfrom your investment.

The entry and exit charges shown are maximum figures.In some cases (including when switching to other fundsmanaged by us) you might pay less - you can find out theactual figures from us or your financial adviser.The ongoing charges figure is based on the latest available expenses at April 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.

ONE-OFF CHARGES TAKEN BEFORE OR AFTERYOU INVEST

Entry charge None

Exit charge None

This is the maximum that might be taken out of your moneybefore it is invested.

CHARGES TAKEN FROM THE FUND OVER A YEAR


CHARGES TAKEN FROM THE FUND UNDER CERTAINSPECIFIC CONDITIONS


PAST PERFORMANCE

15.2

-24.8

19.9

5.6

-16.2

17.915.7

-24.0

20.1

5.8

-14.7

17.8

-30

-20

-10

0

10

20

(ret

urn

%)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

(year)

• Past performance is not a guide to futureperformance.

• The figures take into account all chargesexcept any entry charge, and assumeincome (after tax) is reinvested. Theperformance has been calculated inSterling (British pounds).

• The annual return is for a 12 monthperiod ending 31 December.

• The fund came into existence in 1989, thisI class in 2006.

Fund

Index

PRACTICAL INFORMATION

TRUSTEE The trustee is National Westminster Bank Plc.

FURTHERINFORMATION

You can find further information about the fund in its Prospectus, latest annual and half-yearly reports andin the Additional Fund Information document. A Guide to Investing with Us gives further information aboutinvesting 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 ANDOTHER PRACTICALINFORMATION

You can get other practical information, including the latest buying and selling prices of units and detailsof any other unit classes that are available, by calling us on 0370 050 0955 Monday to Friday between8.30am and 6.00pm. You can also find 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 thisdocument 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.


NON-UCITS RETAIL SCHEME KEY INVESTOR INFORMATION.

This document provides you with key investor information about this fund. It is not marketingmaterial. The information is required by law to help you understand the nature and the risks ofinvesting in this fund. You are advised to read it so you can make an informed decision aboutwhether to invest.

LEGAL & GENERAL UK PROPERTY TRUST I CLASSACCUMULATION ISIN: GB00B0X5NM41, DISTRIBUTION ISIN: GB00B0X5NB36This fund is managed by Legal & General (Unit Trust Managers) Limited.

OBJECTIVES AND INVESTMENT POLICYThe objective of this fund is to provide a combination ofincome and growth.The fund will typically invest between 80% and 90% in UK commercial properties. However, the manager may reduce this level (to no lower than 70%) from time to time if it believes it is in the interest of maintaining the fund's cashflow. The fund will aim to diversify risk by investing between 80% and 100% in three main commercial property sectors: retail, offices and industrial. It may also invest in other commercial property sectors, including the leisure sector, or from time to time in commercial properties in the Isle of Man and the Channel Islands. 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.

The fund may also invest in other UK property related assets, including property related UK shares, authorised property funds and derivatives, as well as in cash or deposits. 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 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 not be appropriate for investors who plan to withdraw their money within five years.

RISK PROFILE• The value of your investment and any income you

take from it may fall as well as rise and are notguaranteed. You may not get back the money youinvested.

• If any of the markets in which you invest falls, thevalue of your investment will probably fall as well.

• The fund manager runs a fund to meet its objectiveand you should expect a fund's investments tochange over time. The fund's level of risk may alsochange in the future, for example because of:- global economic conditions; - investment choices made by the fund manager; or - change in the riskiness of the market(s) invested in.

• If the performance of your investment is less thanthe rate of inflation, the buying power of yourinvestment will fall.

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

• If an exceptional amount of withdrawals are requested,the fund manager may be forced to sell propertiesquickly. This could mean that properties are sold for lessthan expected which would reduce the value of yourinvestment.

• If the size of the fund falls significantly, the fund mayhave to invest in fewer properties. This may lead to anincrease in risk.

• Rental growth is not guaranteed and unpaid rent couldaffect the performance of your investment.

• The value of property is generally a matter of valuer’sopinion rather than fact.

• If you take an income from your investment this willreduce the potential for future growth.

• If you use your right to cancel your investment, you maynot get a full refund if the value of your investment fallsbefore we receive your instruction.

CHARGES FOR THIS FUNDThe charges you pay are used to pay the costs of runningthe fund, including the costs of marketing anddistributing it. These charges reduce the potential returnfrom your investment.

The entry and exit charges shown are maximum figures.In some cases (including when switching to other fundsmanaged by us) you might pay less - you can find out theactual figures from us or your financial adviser.The ongoing charges figure is based on the latest available expenses at December 2012. 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.

ONE-OFF CHARGES TAKEN BEFORE OR AFTERYOU INVEST

Entry charge None

Exit charge None

This is the maximum that might be taken out of your moneybefore it is invested.

CHARGES TAKEN FROM THE FUND OVER A YEAR


CHARGES TAKEN FROM THE FUND UNDER CERTAINSPECIFIC CONDITIONS


This fund has other costs in addition to the ongoingcharges shown above. They include costs such asmaintenance and repair fees, property managementfees, letting costs and legal fees related to runningproperties. Full details are in the fund’s Prospectus.These additional costs are the property expense ratio.For this unit class the property expense ratio is 0.25%.This figure doesn’t include any professional feesrequired on property transactions such as valuationand legal fees and any Stamp Duty Land Tax.

PAST PERFORMANCE

-2.9%

-17.6%

5.8%

10.4%

3.3%2.2%

-25

-20

-15

-10

-5

0

5

10

(ret

urn

%)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

(year)

• Past performance is not a guide to futureperformance.

• The figures take into account all chargesexcept any entry charge, and assumeincome (after tax) is reinvested. Theperformance has been calculated inSterling (British pounds).

• The annual return is for a 12 monthperiod ending 31 December.

• The fund, and this I class, came intoexistence in 2006.

PRACTICAL INFORMATION

TRUSTEE The trustee is National Westminster Bank Plc.

FURTHERINFORMATION

You can find further information about the fund in its Prospectus, latest annual and half-yearly reports andin the Additional Fund Information document. A Guide to Investing with Us gives further information aboutinvesting 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 ANDOTHER PRACTICALINFORMATION

You can get other practical information, including the latest buying and selling prices of units and detailsof any other unit classes that are available, by calling us on 0370 050 0955 Monday to Friday between8.30am and 6.00pm. You can also find 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.

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


CSO5546a1/0414

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