FUND OVERVIEW

Share Class C (Accumulation)

Share Class A (Income)

Share Class C (Income)

Share Class D (Accumulation)

Share Class D (Income)

Fund Manager(s) Mike FoxFund Size £628.55mDomicile United KingdomISA Available and EligibleInvestment Association Sector

UK All Companies

Currency GBP

Unit Launch Date 04.12.12Initial Charge 0.00%Annual Charge 0.75%Minimum Investment £1,000Ongoing Charges Figure (OCF) 0.76%SEDOL B7V23Z9Mid 200.90pHistoric Yield 1.83%

Unit Launch Date 29.05.90Initial Charge 1.50%Annual Charge 1.50%Minimum Investment £1,000Ongoing Charges Figure (OCF) 1.51%SEDOL 0161510Mid 596.40pHistoric Yield 1.14%

Unit Launch Date 04.12.12Initial Charge 0.00%Annual Charge 0.75%Minimum Investment £1,000Ongoing Charges Figure (OCF) 0.76%SEDOL B8HTH59Mid 182.80pHistoric Yield 1.84%

Unit Launch Date 04.12.12Initial Charge 0.00%Annual Charge 0.60%Minimum Investment £500,000Ongoing Charges Figure (OCF) 0.61%SEDOL B7SGTR8Mid 202.50pHistoric Yield 1.97%

Unit Launch Date 04.12.12Initial Charge 0.00%Annual Charge 0.60%Minimum Investment £500,000Ongoing Charges Figure (OCF) 0.61%SEDOL B8C0JY0Mid 183.00pHistoric Yield 1.98%

ROYAL LONDONSUSTAINABLE LEADERS TRUST

31.05.18

OverviewA UK growth fund focusing on the core themes of the environment, human welfare and sustainability to generate superior investment returns. The fund aims to provide first quartile performance over a rolling three year period measured against the UK All Companies sector. The Fund also aims to outperform the FTSE All-Share index.

Year-on-year performance

31.05.17 to 31.05.18

31.05.16 to 31.05.17

31.05.15 to 31.05.16

31.05.14 to 31.05.15

31.05.13 to 31.05.14

Share Class C (Accumulation) 9.4% 22.9% -0.8% 15.2% 14.6%

Share Class A (Income) 8.6% 22.0% -1.9% 12.6% 11.5%

Share Class C (Income) 9.5% 22.9% -1.1% 13.5% 12.4%

Share Class D (Accumulation) 9.6% 23.1% -1.1% 13.6% 12.6%

Share Class D (Income) 9.6% 23.2% -1.0% 13.6% 12.5%

Sector Average 6.6% 21.6% -5.7% 10.3% 11.5%

Cumulative Performance (as at 31.05.18)

3 Months 6 Months 1 Year 3 Years 5 Years

Share Class C (Accumulation) 8.4% 6.5% 9.4% 33.5% 76.2%

Share Class A (Income) 8.2% 6.1% 8.6% 30.0% 63.3%

Share Class C (Income) 8.4% 6.6% 9.5% 33.0% 69.7%

Share Class D (Accumulation) 8.5% 6.6% 9.6% 33.4% 70.6%

Share Class D (Income) 8.5% 6.6% 9.6% 33.7% 70.9%

Sector Average 6.7% 5.7% 6.6% 22.2% 50.4%

Quartile Ranking 1 2 1 1 1

Performance Chart

Source: RLAM and FE as at 31.05.18. Mid to mid, net of fees and taxes, net income reinvested unless otherwise stated. Benchmark index performance gross of fees and taxes. Past performance is not a guide to future performance. The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get back the amount originally invested.

Distribution History (Net)

Jan 18 Jul 17

Share Class A (Income) 2.99p 3.49p

Share Class C (Income) 1.54p 1.67p

Share Class D (Income) 1.68p 1.79p

Table above shows figures as at payment date.

Trust Sector Average

Jun 13 Sep 14 Dec 15 Mar 17 Jun 18

0%

50%

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31.05.13 - 31.05.18 Powered by data from FE

Fund Manager(s)Mike FoxLead ManagerFund Manager tenure:03.11.03

Yield DefinitionsThe historic yield reflects distributions declared over the past twelve months as a percentage of the mid-market price, as at the date shown. It does not include any preliminary charge and investors may be subject to tax on their distributions.

CONTACT DETAILSPrivate InvestorsFor enquiries and dealing: Tel: 03456 04 04 04

IntermediariesFor enquiries: Tel: 0203 272 5950Email: BDSupport@rlam.co.uk

Institutional InvestorsFor enquiries: Tel: 020 7506 6500Email: BDSupport@rlam.co.uk

Head OfficeRoyal London Asset Management Limited 55 Gracechurch StreetLondon, EC3V 0RLTel: 020 7506 6500

Risk WarningRoyal London Asset Management Limited, registered in England and Wales number 2244297; Royal London Unit Trust Managers Limited, registered in England and Wales number 2372439. RLUM Limited, registered in England and Wales number 2369965. All of these companies are authorised and regulated by the Financial Conduct Authority.All of these companies are subsidiaries of The Royal London Mutual Insurance Society Limited, registered in England and Wales number 99064. Registered Office: 55 Gracechurch Street, London, EC3V 0RL. The marketing brand also includes Royal London Asset Management Bond Funds Plc, an umbrella company with segregated liability between sub-funds, authorised and regulated by the Central Bank of Ireland, registered in Ireland number 364259. Registered office: 70 Sir John Rogerson’s Quay, Dublin 2, Ireland.

Source: RLAM, Financial Express and HSBC as at 31.05.18, unless otherwise stated. Yield definitions are shown above.

Our ref: FF RLAM PD 0175

For more information concerning the risks of investing, please refer to the Prospectus and Key Investor Information Document (KIID).

Breakdowns exclude cash and futures.

Fund CommentaryDuring May the FTSE All-Share Index rose by 2.8% as risk assets continued to move higher. The positive move in the market was despite the simmering trade disputes between the US and the rest of the world, political tensions in the eurozone and a fall in emerging Markets. In reality the fact that global economic growth continues to grow at an attractive rate, coupled with a relatively subdued inflationary backdrop, means that corporates remain well positioned to grow profits and ultimately this is what positively influences share prices. The main market features during the month included the strong performance of the oil and mining sectors reflecting the strength of commodities so far in 2018. Whilst the worst performing area was telecoms which fell sharply as both BT and Vodafone disappointed.

The trust outperformed in May and was ranked in the second quartile. Rentokil and Smiths Group performed especially well in the month. Rentokil the pest control business continues to remain attractive reflecting its rate of organic growth, whilst Smiths Group was has a conglomerate corporate structure has announced that it’s in talks to merge its healthcare business with a competitor which would be positive. In addition, the trust’s lack of exposure to oil & gas was again a drag on performance.

Transactions in the month saw the trust starting a new position in Segro which is an ESG leader in the property sector and with its focus on industrial warehousing, we believe it should benefit from the structural growth of e-commerce. We exited from Shire the pharmaceutical company post a bid from Takeda the Japanese company we have sold our remaining holding.

Sector Breakdown

Fund

Financials 23.2%Industrials 18.9%Technology 16.3%Health Care 11.5%Consumer Services 11.2%Consumer Goods 8.7%Utilities 4.4%Basic Materials 4.3%Telecommunications 1.7%

Asset Split

Fund

UK Equities 80.2%North American Equities 12.8%European Equities 5.5%Money Market 1.6%

Top 10 Holdings as at 30.05.18

Fund

AMAZON.COM INC 5.0%RENTOKIL INITIAL 4.8%ASTRAZENECA PLC 4.5%SMITH(DS) PLC 4.2%UNILEVER 4.2%MICROSOFT CORP 4.1%HSBC HOLDINGS PLC 4.1%ASML HOLDING NV 3.7%PRUDENTIAL PLC 3.7%ALPHABET INC 3.7%

Total 42.0%No of Holdings 42

Every effort is made to ensure the accuracy of any information provided but no assurances or warranties are given. Nothing in this factsheet should be construed as advice and is therefore not a recommendation to buy or sell shares.