Brewin Dolphin Limited

MI Brewin Dolphin Voyager Max 70% Equity Fund

The Fund aims to provide an income stream and the opportunity for capital growth through an exposure to equities of up to 70%.

At least 80%, and potentially 100%, of the Fund’s investments will be indirect through other funds. The other funds may be actively managed or may be passively managed (that is funds which track or are closely linked to the performance of an index) although it is not expected that more than 20% will be invested in passive funds at any one time.

Through its investments in these funds, the Fund will have a high exposure to equities. No more than 70% of the portfolio will be invested in company shares either directly or through equity funds whilst the remainder will be split between funds which seek exposure to bonds, cash and alternative investments (such as properties, commodities and infrastructure).

The Fund may also invest directly in equity like instruments (which may include shares in investment trusts and REITS), bonds, money market instruments, depositary receipts and cash.

Bonds are like loans that pay a fixed or variable rate of interest issued by governments, companies and other large organisations worldwide. They can be investment grade (meet a certain level of credit rating by a credit rating agency) or they may be unrated (and hence more likely to fail than investment grade bonds).

The Fund intends to invest at least 35% into funds managed by the ACD or sponsored by Brewin Dolphin Limited.

The Fund may also make use of derivatives, which are sophisticated instruments whose value is linked to the rise and fall of other assets.

The Fund can use derivatives for the purposes of hedging and efficient portfolio management, with the aim of managing risk and cost.

MI Brewin Dolphin Voyager Max 80% Equity Fund

MI Brewin Dolphin Voyager Max 90% Equity Fund

The Fund aims to deliver capital growth and income through an exposure to equities of up to 90%.

At least 80%, and potentially 100%, of the Fund’s investments will be indirect through other funds. The other funds may be actively managed or may be passively managed (that is funds which track or are closely linked to the performance of an index) although it is not expected that more than 20% will be invested in passive funds at any one time.

Through its investment in these funds, the Fund will have a high exposure to equities. No more than 90% of the portfolio will be invested in company shares either directly or through equity funds whilst the remainder will be split between funds which seek exposure to bonds, cash and alternative investments (such as properties, commodities and infrastructure).

The Fund may also invest directly in equity like instruments (which may include shares in investment trusts and REITS), bonds, money market instruments, depositary receipts and cash.

Bonds are like loans that pay a fixed or variable rate of interest issued by governments, companies and other large organisations worldwide. They can be investment grade (meet a certain level of credit rating by a credit rating agency) or they may be unrated (and hence more likely to fail than investment grade bonds).

The Fund intends to invest at least 35% into funds managed by the ACD or sponsored by Brewin Dolphin Limited.

The Fund may also make use of derivatives, which are sophisticated instruments whose value is linked to the rise and fall of other assets.

The Fund can use derivatives for the purposes of hedging and efficient portfolio management, with the aim of managing risk and cost.

MI Brewin Dolphin Voyager Max 100% Equity Fund

The Fund aims to deliver capital growth and income through an exposure to equities of up to 100%.

At least 80%, and potentially 100%, of the Fund’s investments will be indirect through other funds. The other funds may be actively managed or may be passively managed (that is funds which track or are closely linked to the performance of an index) although it is not expected that more than 20% will be invested in passive funds at any one time.

Through its investment in these funds the Fund will be almost entirely exposed to equities (up to 100%) either directly or through equity funds whilst any non-equity exposure will be through funds which seek exposure to bonds, cash and alternative investments (such as properties, commodities and infrastructure).

The Fund may also invest directly in equity like instruments (which may include shares in investment trusts and REITS), bonds, money market instruments, depositary receipts and cash.

Bonds are like loans that pay a fixed or variable rate of interest issued by governments, companies and other large organisations worldwide. They can be investment grade (meet a certain level of credit rating by a credit rating agency) or they may be unrated (and hence more likely to fail than investment grade bonds).

The Fund intends to invest at least 35% into funds managed by the ACD or sponsored by Brewin Dolphin Limited.

The Fund may also make use of derivatives, which are sophisticated instruments whose value is linked to the rise and fall of other assets.

The Fund can use derivatives for the purposes of hedging and efficient portfolio management, with the aim of managing risk and cost.

MI Select Managers Alternatives Fund

The Fund aims to provide a positive return (from investment growth and income) on a rolling five-year basis, by investing flexibly in a broad range of investments.

A positive return is not guaranteed over five years or any period and you could lose money.

The Fund can invest globally (including in emerging markets).

The Fund will typically be invested (directly or indirectly) 70% or above (but a minimum of 50%) in alterative assets such as commodities (including gold and other precious metals), real estate, private equity, and absolute return strategies. The Fund may also have exposure to company shares, bonds, debt, cash and near cash. Allocations may vary significantly and exposure to certain asset classes, markets, sectors or currencies may be concentrated from time to time, in response to market conditions and opportunities.

The Fund can invest up to 15% in other investment funds (which may include those that are managed or operated by the ACD or an associate of the ACD).

Bonds are like loans that pay a fixed or variable rate of interest issued by governments, companies and other large organisations worldwide. Bonds are classified by rating agencies for their creditworthiness: those rated ‘investment grade’ generally carry a relatively low risk of default but also tend to offer lower yields than ‘non-investment grade’ bonds which, in turn, generally have a higher risk of default but also tend to offer higher yields.

The Fund has a multi-manager structure, which means that its assets are managed by a number of specialist investment managers, appointed and monitored by the Fund’s Asset Allocation Manager. Each of these investment managers has discretion to select investments for an assigned portion of the Fund’s assets.

The Fund can use derivatives, which are sophisticated instruments whose value is linked to the rise and fall of other assets, for investment purposes to generate market exposure that exceeds the value of its assets and for the purposes of hedging and efficient portfolio management, with the aim of managing risk and cost.

MI Select Managers North American Equity Fund

The Fund aims to provide long term capital growth and income by investing primarily in the shares of North American listed companies and in investment funds that are targeted towards North America. Although the Fund intends to invest primarily in US companies it may also invest in Canada and Mexico.

The Fund may invest in other transferable securities, depositary receipts and other UCITS eligible schemes to achieve its objectives.

North American listed companies are defined as those that are domiciled, incorporated or have a significant part of their business in the USA.

The Fund has a multi-manager structure, which means that its assets are managed by a number of specialist investment managers, appointed and monitored by the Fund’s Asset Allocation Manager. Each of these investment managers has discretion to select investments for an assigned portion of the Fund’s assets.

The Fund may also make use of derivatives, which are sophisticated instruments whose value is linked to the rise and fall of other assets. The Fund can use derivatives for investment purposes to generate market exposure that exceeds the value of its assets and for the purposes of hedging and efficient portfolio management, with the aim of managing risk and cost.

MI Select Managers UK Equity Income Fund

The Fund aims to provide income along with an opportunity for long term capital appreciation by investing primarily in the shares of UK listed equities and in investment funds that are targeted towards the UK and produce a sustainable dividend yield.

UK listed equities are defined as companies that are domiciled, incorporated or have a significant part of their business in the UK.

Investment funds are defined as exchange traded funds, index tracking funds and other UCITS eligible schemes that are focused on the UK

The Fund has a multi-manager structure, which means that its assets are managed by a number of specialist investment managers, appointed and monitored by the Fund’s Asset Allocation Manager. Each of these investment managers has discretion to select investments for an assigned portion of the Fund’s assets.

The Fund may also make use of derivatives, which are sophisticated instruments whose value is linked to the rise and fall of other assets. The Fund can use derivatives for investment purposes to generate market exposure that exceeds the value of its assets and for the purposes of hedging and efficient portfolio management, with the aim of managing risk and cost.

MI Select Managers Bond Fund

The Fund aims to provide income along with the opportunity for capital growth by investing primarily in debt instruments (which are like loans that pay a fixed or variable rate of interest) issued by governments, companies and other large organisations.

The Fund may invest in other transferable securities, depositary receipts and other UCITS eligible schemes to achieve its objectives.

The Fund may invest in bonds that have lower ratings, as defined by international agencies that provide such ratings. These may pay higher rates of interest than bonds with higher ratings.

The Fund has a multi-manager structure, which means that its assets are managed by a number of specialist investment managers, appointed and monitored by the Fund’s Asset Allocation Manager. Each of these investment managers has discretion to select investments for an assigned portion of the Fund’s assets.

The Fund may also make use of derivatives, which are sophisticated instruments whose value is linked to the rise and fall of other assets. The Fund can use derivatives for investment purposes to generate market exposure that exceeds the value of its assets and for the purposes of hedging and efficient portfolio management, with the aim of managing risk and cost.

MI Select Managers UK Equity Fund

The Fund aims to provide long term capital growth and income by investing primarily in the shares of UK listed companies and in investment funds that are targeted towards the UK.

UK listed companies are defined as those that are domiciled, incorporated or have a significant part of their business in the UK.

Investment funds are defined as exchange traded funds, index tracking funds and other UCITS eligible schemes that are focused on the UK.

The Fund has a multi-manager structure, which means that its assets are managed by a number of specialist investment managers, appointed and monitored by the Fund’s Asset Allocation Manager. Each of these investment managers has discretion to select investments for an assigned portion of the Fund’s assets.

The Fund may also make use of derivatives, which are sophisticated instruments whose value is linked to the rise and fall of other assets. The Fund can use derivatives for investment purposes to generate market exposure that exceeds the value of its assets and for the purposes of hedging and efficient portfolio management, with the aim of managing risk and cost.