Benefits of investing in the Pendal Global Emerging Markets Opportunities Fund - Wholesale

Investing in the Fund offers investors a range of benefits:

• access to a professionally managed portfolio of global emerging market shares and the potential for long-term capital growth;

• access to JOHCM's investment expertise;

• exposure to growth in emerging markets;

• regular investment statements and an annual tax statement to keep you up-to-date on your investment;

• ability to keep track of your investments in the secure client area by visiting the login section at www.pendalgroup.com.

Risk level

Very High

Investor suitability

This Fund is designed for investors who want the potential for long-term capital growth, diversification across a broad range of global emerging market shares and are prepared to accept high variability of returns.

About the Fund

The Pendal Global Emerging Markets Opportunities Fund is an actively managed portfolio of global emerging market shares. The portfolio is managed by JOHCM.

Investment Manager

The portfolio is managed by J O Hambro Capital Management Limited, a wholly- owned subsidiary within the Pendal Group.

How we invest your money

As manager of the Fund, JOHCM's investment process for global emerging market shares aims to add value through a combination of country allocation as well as individual stock selection. JOHCM's country allocation process is based on analysis of a country's economic growth, monetary policy, market liquidity, currency, governance/ politics and equity market valuation. The stock selection process focuses on buying quality growth stocks at attractive valuations.

Asset Classes and Asset Allocation Ranges*

• International shares: 80%-100%

• Cash: 0%-20%

*The reference to the Fund investing in an asset class includes all types of investments which give exposure to that asset, directly or indirectly, including through derivatives and investment in other funds which invest primarily in that asset class, and through any type of investment which would ordinarily be understood in financial markets to be included in that asset class. It does not preclude investment in other types of assets where we consider it appropriate to do so in the interests of investors.

The Fund has assets that are denominated in foreign currencies. This means that changes to the Australian dollar relative to foreign currencies may affect the value of the assets of the Fund. The Fund's foreign currency exposure will generally not be hedged to the Australian dollar but JOHCM may do so from time to time. JOHCM does not intend to use currency trading as an additional source of Fund returns.

Derivatives may be used to reduce risk and can act as a hedge against adverse movements in a particular market and/or in the underlying assets. Derivatives can also be used to gain exposure to assets and markets.