INTERNATIONAL FUNDS ISLE OF MAN Alquity Africa February 2015 This factsheet is for information only and should not be considered a financial promotion. This information should not be relied upon for buying and selling decisions. FUND OBJECTIVE MIRROR FUND KEY FACTS Our objective is to provide long-term growth by tapping into the fast-moving, dynamic opportunities across the African continent, with the aim of delivering double-digit returns on an annual basis. We invest in growing companies operating in Africa, through a bottom-up analysis of their fundamental attractiveness as the fund is not benchmark driven. The active integration of sustainability analysis into the core of our stock selection process is done with the intention of mitigating risk and further maximising the long-term returns for the investor. FP Code: Currency: Launch Date: FPI Risk Rating: Fund Key: Dealing: Sector Classification: Sharia Compliant: Index Tracker: Socially Responsible Investment: SFC Authorised: MAS Approved: FPI MIRROR FUND RISK RATING L26 USD Feb 2011 5 D,W Daily Equity - Emerging Markets No No Yes No No UNDERLYING FUND KEY FACTS Sedol Code: B4M7B14 ISIN Code: LU0455925619 Launch Date: 30/06/2010 Fund Management Company: Alquity Investment Managmt Ltd Fund Manager: David Mcilroy Manager Since: 28/06/2010 Fund Size (as at 31/01/2015): USD 78m Annual Management Charge: 1.90% Additional Expenses (as at 31/12/2014): 2.00% Total Expense Ratio (as at 31/12/2014): 3.90% Grade 5: These aggressive funds balance the risk of high volatility with the potential for high capital growth. The fund price may go up and down depending on investment performance and is not guaranteed. You may get back less than you’ve paid in. DPPI MIRROR FUND SEARCH SCHEME Dynamic Portfolio Planner International (DPPi) is our online, adviser only, portfolio-planning tool. The Mirror Fund Search Scheme is used to filter our The Total Expense Ratio is a measure of the total annual charge of the mirror fund range by defining broad asset classes in order to refine a search. underlying fund and is the Annual Management Charge plus the Additional Expenses Sector Classification: Crown Rating: This fund is classified as: Equity - Emerging Markets Further information on the Crown Rating can be found at www.financialexpress.net FUND KEY D : Funds not authorized in Hong Kong and not available to residents of Hong Kong. W : There is a performance fee on this fund, which is charged by the underlying fund manager. Please refer to the relevant section of the underlying fund’s Prospectus for further information UNDERLYING FUND BREAKDOWN Sector Allocation (as at 31/12/2014) Geographical Allocation (as at 31/12/2014) 25.80% Banks 12.00% Pharmaceuticals Telecommunications Utilities 7.90% Media 7.50% Real Estate 5.90% Food & Drug Retailers 5.70% Capital Goods 4.90% Retail 4.70% Energy 22.44% Kenya 10.90% Materials 30.30% South Africa 22.29% Egypt 16.57% Nigeria Africa 2.43% Mauritius 2.10% 2.03% Ghana 1.17% Botswana 0.76% Middle East/ Africa Money Market 4.10% -0.09% TOP HOLDINGS (as at 31/12/2014) Holding 1. 2. 3. 4. 5. ASPEN PHARMACARE HLDGS NASPERS SAFARICOM LTD COMMERCIAL INTL BANK(EGYPT)S.A.E EQUITY BANK % of Fund 7.82% 7.55% 6.57% 6.35% 4.97% Holding 6. KENYA COMMERCIAL BANK 7. MTN GROUP 8. EGYPTIAN INTL PHARMACEUTICAL INVEST 9. NETCARE LTD 10. ARM CEMENT LTD % of Fund 4.66% 4.37% 4.17% 4.05% 3.78% INTERNATIONAL FUNDS ISLE OF MAN Alquity Africa February 2015 The information shown below refers to the past. Past performance is not a reliable guide to future performance. Performance figures are net of all charges. Please note that the securities held within a fund may not be denominated in the currency of that fund and, as a result, fund prices may rise and fall purely on account of exchange rate fluctuations. PERFORMANCE OF MIRROR FUND OVER ROLLING ONE YEAR PERIODS (as at 31/12/2014) Alquity Africa 31/12/2009 31/12/2010 31/12/2010 31/12/2011 31/12/2011 31/12/2012 31/12/2012 31/12/2013 31/12/2013 31/12/2014 N/A * N/A * 12.02% 12.87% -11.72% * This fund was not available during this time frame Figures are for periods from Quarter 4 to Quarter 4 of each year. RELATIVE PERFORMANCE OF UNDERLYING FUND OVER ROLLING ONE YEAR PERIODS (as at 31/12/2014) 31/12/2009 31/12/2010 31/12/2010 31/12/2011 31/12/2011 31/12/2012 31/12/2012 31/12/2013 31/12/2013 31/12/2014 Quartile Rank N/A * Q3 Q3 Q1 Q4 Absolute Rank N/A * 175/320 220/385 32/447 422/495 * Data is not available for this time frame Figures are for periods from Quarter 4 to Quarter 4 of each year. Quartile rank – if a fund is ranked in the top 25% of funds available within its investment sector over the period shown, it is shown as Q1. Funds ranked in the next 25% are ‘Q2’ etc. Funds in the bottom 25% are ‘Q4’. Absolute rank – shows the fund’s relative positioning when its performance is compared to the other funds in the Financial Express sector. PERCENTAGE GROWTH OF MIRROR FUND SINCE LAUNCH (as at 31/01/2015) 5% CUMULATIVE PERFORMANCE OF MIRROR FUND (as at 31/01/2015) % growth Since Launch -11.72 1 Year -9.08 3 Years 2.75 5 Years N/A -10% 10 Years N/A -15% ANNUALISED PERFORMANCE OF MIRROR FUND (as at 31/01/2015) 0% -5% % growth -20% Since Launch -25% Feb 11 Jul Dec May 12 Oct Mar 13 Aug Jan 14 Jun Nov 25/02/2011 - 30/01/2015 Powered by data from FE Standard Deviation* -3.12 12.23% * Standard Deviation is a measure of a fund’s risk and volatility. It gives an indication of how much a fund’s price goes up and down in value. So the higher the volatility measure, the greater the risk. The above figure is an annualised figure over a three-year time period. Source: Financial Express Ltd, on a bid to bid basis. Figures to 31/01/2015 IMPORTANT INFORMATION REGARDING MIRROR FUNDS For each fund managed by external investment managers Friends Provident International has set up its own mirror fund, which invests exclusively in the underlying fund, apart from a proportionately small amount, which may be held as a cash balance. This means that the price of the Friends Provident International fund will be different from the corresponding fund due to the cash holding and any differences in fund charges, but will move mainly in line with it. These mirror funds can only be accessed using Friends Provident International product wrappers. Please note that there are fees charged to investments in the mirror funds that will affect their return. For further details, please refer to the relevant fund information brochure. Friends Provident International Limited Registered and Head Office: Royal Court, Castletown, Isle of Man, British Isles, IM9 1RA. Telephone: +44(0) 1624 821 212 Fax: +44(0) 1624 824 405 Website: www.fpinternational.com Incorporated company limited by shares. Registered in the Isle of Man, number 11494. Authorised by the Isle of Man Insurance and Pensions Authority. Provider of life assurance and investment products. Authorised by the Office of the Commissioner of Insurance to conduct long-term insurance business in Hong Kong. Registered in the United Arab Emirates as an insurance company (Registration No. 76). Registered with the Ministry of Economy as a foreign company (Registration No. 2013): Registration date 19 April 2007. Authorised by the United Arab Emirates Insurance Authority to conduct life assurance and funds accumulation operations. Registered in Singapore No. F06835G. Licensed by the Monetary Authority of Singapore to conduct life insurance business in Singapore. Friends Provident International is a registered trade mark of the Friends Life group.