Schroder GAIA Two Sigma Diversified K Accumulation USD

Objectives and investment policy Objectives The fund aims to provide a positive return after fees have been deducted over a three year period by investing in equity, equity related securities, fixed and floating rate securities and currencies worldwide. Investment policy The fund is actively managed and the investment manager uses sophisticated computer systems to implement a model driven investment approach. The fund operates a combination of both US equity market neutral and global macro trading strategies. The equity market neutral strategy seeks to profit by taking synthetic long and short positions in undervalued and overvalued stocks in the equity market. The global macro strategy is a mix of both fundamental and technical models that seek to take advantage of changes in global asset prices. The fund invests in equities and bonds and currencies worldwide, as well as in investment funds investing in such instruments. The fund invests directly (through physical holdings) and/or indirectly (through derivatives). The fund uses derivatives extensively, long and short, on a continuous basis with the aim of achieving investment gains, reducing risk or managing the fund more efficiently. The fund may be net long or net short when long and short positions are combined. The fund may use leverage and may hold cash. The fund may invest up to 10% of its assets in open ended investment funds. The fund may hold up to 100% of its assets in cash and money market investments. Recommendation: Investors should seek independent advice and satisfy themselves that they have an understanding of the techniques employed by the manager. Benchmark The fund's performance should be assessed against its target benchmark, being to provide a positive return over a three year period and compared against Secured Overnight Financing Rate (or an alternative reference rate). The target benchmark has been selected because the target return of the fund is to deliver the return of that benchmark as stated in the investment objective. The comparator benchmark has been selected because the investment manager believes that the benchmark is a suitable comparison for performance purposes given the fund's investment objective and policy. The investment manager invests on a discretionary basis and is not limited to investing in accordance with the composition of a benchmark. The fund is not expected to replicate the performance of any benchmark. The performance of this share class is compared against the performance of the equivalent unhedged currency share class. Dealing frequency You can buy and sell shares weekly on Wednesday (or the next business day if a Wednesday is not a business day) and on the last business day in a month. Distribution policy This share class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the share class.