Stewart Investors Asia Pacific Leaders Sustainability Fund Class A (Accumulation) GBP

Objectives and investment policy Objective: The Fund aims to achieve capital growth over the long term (at least five years). Policy: The Fund mainly invests in shares of large and mid-sized companies based in or where the majority of their activities take place in the Asia Pacific region excluding Japan and that are listed on exchanges worldwide. These companies generally have a total stock market value of at least US$1 billion. The Fund invests in shares of high quality companies which are positioned to contribute to, and benefit from, sustainable development. Investment decisions around high quality companies are based on three key points: ° Quality of management including integrity, attitude to environmental and social impacts, corporate management, long term performance and risk. ° Quality of the company including its social usefulness, their environmental impacts and efficiency and responsible business practices. ° Quality of the company’s finances and their financial performance. Sustainability is a key part of the approach. The Fund may invest up to 10% in other funds. The Fund will only use derivatives to reduce risk or to manage the Fund more efficiently in limited cases. Strategy: The Manager’s investment strategy is founded on the principle of stewardship, allocating capital to high quality companies with sound growth prospects and strong management teams. The Manager’s investment style is inherently long-term and conservative, seeking to buy and hold high quality companies that can deliver acceptable returns over the long-term (at least five years). Benchmark: The Fund’s performance is compared against the value of the MSCI AC Asia Pacific ex Japan Index. The Fund's manager may use its discretion when deciding which investments should be held by the Fund. The Fund is actively managed; investment of the Fund’s assets is not constrained by the benchmark composition and the Fund’s manager has complete discretion within the Fund’s investment policy to invest in assets without regard to the benchmark. Recommendation: This Fund may not be appropriate for investors who plan to withdraw their money within five years. The Fund will not pay any income out; instead any income will be reflected in the value of your shares. 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 and sold at that day's price.