Various fund objective, policy and name changes – Neptune Funds

Neptune Investment Management Ltd ("Neptune") has announced various changes to funds across its range which will take effect from 7 August 2019.

Impacts on
these guided-architecture products

Impacts on
open architecture products including

PIMS
Choice
Select

What is changing?

Following new rules and guidance issued by the Financial Conduct Authority (FCA), which regulates the financial services industry in the UK, Neptune is making the following changes to its funds' literature.

Funds available in our open-architecture products

Various funds in our open-architecture products will be subject to a fund change of investment objective and policy.

Funds available in our guided-architecture products

The Neptune Russia & Greater Russia Fund can be found in our guided architecture products Oracle, Paragon, Quantum, Quantum Malaysia, Regular Savings Plan and Regular Savings Plan Malaysia. A comparison of the current fund name, investment objective and policy and the revised changes that will be applied to the fund are detailed in the table below.

You can view a copy of the Neptune notification documents opposite.

For more information about Neptune Investment Management visit www.neptunefunds.com

Current fund name - Neptune Russia & Greater Russia Fund	New fund name - Neptune Russia Fund
Current investment Objective and policy: The investment objective of Neptune Russia & Greater Russia Fund is to generate capital growth from investment predominantly in Russian and Greater Russian securities or securities issued by companies transacting a significant proportion of their business in Russia and Greater Russia. Other eligible asset classes are collective investment schemes, other transferable securities, cash or near cash, deposits and money market instruments. It is anticipated that derivatives instruments and forward transactions may be used by the ACD for efficient portfolio management. It is the intention to be near-fully invested at all times, however the Fund has the facility to take tactical positions in cash or near cash should the ACD feel it appropriate. The portfolio will be managed to ensure that the Fund is at all times eligible to qualify and to be included in an Individual Savings Account.	New investment Objective and policy: The investment objective of Neptune Russia Fund is to generate long term (5 years or more) capital growth. The Fund invests at least 80% in shares of Russian companies. These are companies which, at the time of purchase, are incorporated, domiciled, listed or conduct significant business in Russia. The Fund may also invest up to 20% in companies outside of Russia, as well as in other eligible asset classes. Other eligible asset classes are collective investment schemes (which may include Neptune managed funds), other transferable securities, cash or near cash, deposits and money market instruments. Derivatives and forward transactions may be used by the ACD for efficient portfolio management. It is the intention to be near-fully invested at all times, however, the Fund has the facility to take tactical positions in cash or near cash, and to use efficient portfolio management, should the ACD feel it appropriate. The portfolio will be managed to ensure that the Fund is at all times eligible to qualify for, and to be included in, an Individual Savings Account. For a definition of terms please refer to the glossary.

Current fund name - Neptune Russia & Greater Russia Fund

New fund name - Neptune Russia Fund

Current investment Objective and policy:

The investment objective of Neptune Russia & Greater Russia Fund is to generate capital growth from investment predominantly in Russian and Greater Russian securities or securities issued by companies transacting a significant proportion of their business in Russia and Greater Russia.

Other eligible asset classes are collective investment schemes, other transferable securities, cash or near cash, deposits and money market instruments.

It is anticipated that derivatives instruments and forward transactions may be used by the ACD for efficient portfolio management.

It is the intention to be near-fully invested at all times, however the Fund has the facility to take tactical positions in cash or near cash should the ACD feel it appropriate.

The portfolio will be managed to ensure that the Fund is at all times eligible to qualify and to be included in an Individual Savings Account.

New investment Objective and policy:

The investment objective of Neptune Russia Fund is to generate long term (5 years or more) capital growth.

The Fund invests at least 80% in shares of Russian companies. These are companies which, at the time of purchase, are incorporated, domiciled, listed or conduct significant business in Russia.

The Fund may also invest up to 20% in companies outside of Russia, as well as in other eligible asset classes.

Other eligible asset classes are collective investment schemes (which may include Neptune managed funds), other transferable securities, cash or near cash, deposits and money market instruments.

Derivatives and forward transactions may be used by the ACD for efficient portfolio management.

It is the intention to be near-fully invested at all times, however, the Fund has the facility to take tactical positions in cash or near cash, and to use efficient portfolio management, should the ACD feel it appropriate.

The portfolio will be managed to ensure that the Fund is at all times eligible to qualify for, and to be included in, an Individual Savings Account. For a definition of terms please refer to the glossary.