
The SVM UK Growth Fund is a natural core fund. It has outperformed in falling and rising markets and
holds a good blend of large and medium cap companies. Its position will be defensive in difficult markets
and more aggressive in rising markets.

The Fund invests principally in the UK market with the aim of achieving long term capital growth.
The Fund is managed in an ‘unconstrained’ style and seeks to identify investment opportunities by
investing in large, medium and smaller companies. Often this will mean that a sizeable part of
the portfolio will be invested in medium and smaller sized companies, if that is where the manager
believes the most rewarding opportunities exist.

The aim of the Fund is to achieve long-term capital growth from a tightly controlled list of European
stocks regardless of market capitalization, which the manager believes will generate attractive returns.
The Fund aims to outperform the FTSE World Europe ex UK Index.

The SVM UK Alpha Fund changed to the SVM World Equity Fund on 1 December 2010. More information on the Fund will be available shortly. In the meantime if you need any further information, please call 0800 0199 110.

The SVM UK Absolute Alpha Fund is a long/short UCITS III fund focused on UK equities. It will aim to maximise returns from SVM’s stockpicking skill via a portfolio of conviction ideas, generating returns from both stocks that are likely to rise, and those that are likely to fall. It aims to capitalise on manager skill – alpha – to produce long-term absolute returns.

The Fund will aim to deliver superior performance through our proven stock
selection capabilities whilst seeking to ensure that the companies invested in
are monitored and engaged with on ethical, governance, environmental and social
issues.