Lindsell Train Global Equity Fund D GBP Inc

Objective The sub-fund’s aim is to achieve growth through both share price appreciation and income from the shares. Investment Policy The sub-fund invests directly in the shares of global companies primarily quoted on recognised exchanges in developed countries. Essential features of the Sub-Fund:  The sub-fund is actively managed, the investment manager having discretion in selecting investments in line with the subfund’s objective and investment policy.  The MSCI World Index (the “Benchmark”) has been selected as the sub-fund’s Benchmark for performance comparison purposes only. Whilst the sub-fund may invest in companies that are components of the Benchmark, the sub-fund does not track the Benchmark or use the Benchmark as a performance target, and the sub-fund may hold investments that are not constituents of the Benchmark. The Benchmark does not play a role in the construction of the sub-fund’s portfolio.  The sub-fund is a concentrated fund which means that it holds fewer shares than many other funds; typically between 20 and 35. In building the portfolio, the investment manager does not apply any limits in terms of stock and sector portfolio weightings, when compared to the Benchmark.  This class does not use currency hedging.  This class is a distributing class, meaning any income will be paid out to you twice a year. There is an option to reinvest the dividends back into the sub-fund.  You can buy and sell shares in the sub-fund on any week day on which commercial banks are open in Dublin and London.  This sub-fund may not be appropriate for investors who plan to withdraw their money within five years.  Please refer to the Prospectus for further information.