Download - Pension fund performance June 2020 - Royal London Group · PENSION FUND PERFORMANCE VS. BENCHMARK The following tables show the performance of the Royal London Unit Linked Pension

PENSION FUNDPERFORMANCE

June 2020

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PENSION FUNDPERFORMANCE VS.

BENCHMARKThe following tables show the performance of the Royal LondonUnit Linked Pension fund range. Each fund’s performanceis shown against its benchmark: a gauge against which theperformance of the fund can be measured. The benchmark isusually an index, for example the FTSE All Share Index whichtracks the performance of UK shares. A fund may also bebenchmarked against the sector average: the average performanceof all pension funds within a sector.

Where a fund invests in a number of different geographical areasor assets types, a composite benchmark may be used. This is whena mixture of indices have been used as a performance gauge. Themix between these indices will usually reflect the actual assetallocation of the fund. Further information on any of thebenchmarks used can be found on our fund factsheets atroyallondon.com/pensioninvestments

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DEPOSIT

Fund Total Fund Fund 31.05.19 31.05.18 31.05.17 31.05.16 31.05.15 FundFund Name Management Expense Management Volatility 31.05.20 31.05.19 31.05.18 31.05.17 31.05.16 Launch

Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Deposit 1.00% 1.00% Active 0.07 -0.28 -0.22 -0.60 -0.60 -0.49 -0.37 -0.44 -0.40 0.75 01.03.84LIBID GBP 7 days Index -0.44 -0.33 -0.62 -0.71 -0.52 -0.46 -0.52 -0.50 0.63Difference 0.16 0.11 0.02 0.11 0.03 0.09 0.08 0.10 0.12

GOVERNMENT & CORPORATE BOND


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Annuity 1.00% 1.00% Active 3.58 3.99 3.16 0.00 7.62 N/A 2.37 N/A N/A N/A 21.08.15Composite Benchmark 5.06 2.86 -0.96 6.47 N/A 2.29 N/A N/A N/ADifference -1.07 0.30 0.96 1.15 N/A 0.08 N/A N/A N/ARLP Corporate Bond 1.00% 1.00% Active 6.36 1.67 3.74 1.39 11.05 1.89 2.26 3.88 6.73 5.21 31.05.02Markit iBoxx Sterling Non Gilts Overall Index 5.24 3.17 -1.12 8.37 2.40 2.39 3.56 5.01 4.25Difference -3.57 0.57 2.51 2.68 -0.51 -0.13 0.32 1.72 0.96RLP Ethical Bond 1.00% 1.00% Active 5.59 4.74 3.98 0.84 10.67 2.10 3.17 4.41 6.57 N/A 29.03.10Markit iBoxx Sterling Non Gilts Overall Index 5.24 3.17 -1.12 8.37 2.40 2.39 3.56 5.01 N/ADifference -0.50 0.81 1.96 2.30 -0.30 0.78 0.85 1.56 N/ARLP Fixed Interest 1.00% 1.00% Active 5.64 10.10 3.96 -0.89 6.97 4.35 4.29 4.83 5.31 4.24 01.03.84FTSE Actuaries UK Conventional Gilts All Stocks Index 10.86 3.11 -0.50 5.75 4.53 4.38 4.68 4.85 4.61Difference -0.76 0.85 -0.39 1.22 -0.18 -0.09 0.15 0.46 -0.37RLP Global High Yield Bond 1.00% 1.00% Active 10.18 -0.99 3.67 -0.26 8.49 2.17 0.79 2.56 N/A N/A 18.02.13BofA Merrill Lynch Global Non-Financial High Yield Constrained Index -2.03 2.83 -0.26 11.68 -0.95 0.16 2.14 N/A N/A

Difference 1.04 0.84 0.00 -3.19 3.12 0.63 0.42 N/A N/ARLP Global Index Linked 1.00% 1.00% Active 4.91 5.33 4.47 -0.93 6.53 2.11 2.91 3.46 3.80 N/A 29.03.10Barclays Capital World Govt Inflation Link Index 5.20 3.46 -0.64 6.17 0.53 2.64 2.91 3.45 N/ADifference 0.13 1.01 -0.29 0.36 1.58 0.27 0.55 0.35 N/ARLP Index Linked 1.00% 1.00% Active 10.98 7.00 10.43 -2.04 20.54 1.86 4.99 7.27 7.88 6.94 01.03.84FTSE Actuaries UK Index-Linked All Stocks Index 8.13 7.65 -1.48 19.92 0.78 4.66 6.74 7.51 6.73Difference -1.13 2.78 -0.56 0.62 1.08 0.33 0.53 0.37 0.21RLP International Government Bond 1.00% 1.00% Active 2.92 5.74 4.01 -1.29 -0.82 4.39 2.77 2.36 N/A N/A 28.11.11JPMorgan Global GBI Hedged Index 6.12 3.97 -1.05 -0.95 4.20 2.96 2.41 N/A N/ADifference -0.38 0.04 -0.24 0.13 0.19 -0.19 -0.05 N/A N/ARLP Long (15yr+) Corporate Bond 1.00% 1.00% Active 10.36 12.44 6.41 -1.51 17.18 2.75 5.62 7.24 8.83 6.88 22.09.04Composite Benchmark 13.09 5.68 -2.13 14.17 3.54 5.36 6.69 7.69 5.93Difference -0.65 0.73 0.62 3.01 -0.79 0.26 0.55 1.14 0.95RLP Long (15yr+) Gilt 1.00% 1.00% Active 7.81 13.57 6.08 -0.77 10.27 6.38 6.13 6.99 7.65 6.67 22.09.04Composite Benchmark 13.89 4.83 -0.06 8.98 6.69 6.06 6.76 7.59 6.34Difference -0.32 1.25 -0.71 1.29 -0.31 0.07 0.23 0.06 0.33

3Years

Compound Annual Growth Rate (%)

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10Years

15Years

Past performance is not a guide to the future. Prices can fall as well as rise meaning you may not get back the value of your original investment. Investment returns may fluctuate and are not guaranteed.

Fund Details Percentage Change Compound Annual Growth Rate (%)

Fund Details Percentage Change

GOVERNMENT & CORPORATE BOND CONTINUED


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Long (15yr+) Index Linked 1.00% 1.00% Active 7.67 5.70 8.34 -1.46 15.31 0.60 4.11 5.53 6.47 6.35 22.09.04Composite Benchmark 5.90 6.51 -1.33 15.38 0.70 3.63 5.27 6.38 6.30Difference -0.20 1.83 -0.13 -0.07 -0.10 0.48 0.26 0.09 0.05RLP Medium (10yr) Corporate Bond 1.00% 1.00% Active 8.62 7.68 5.16 -0.88 12.93 2.20 3.92 5.31 7.28 5.58 22.09.04Composite Benchmark 7.53 4.33 -1.32 10.87 2.95 3.45 4.78 6.45 5.05Difference 0.15 0.83 0.44 2.06 -0.75 0.47 0.53 0.83 0.53RLP Medium (10yr) Gilt 1.00% 1.00% Active 5.11 8.31 4.58 -1.75 6.66 4.98 3.63 4.49 5.27 5.07 22.09.04Composite Benchmark 8.07 3.78 -1.03 5.97 4.95 3.54 4.30 5.23 5.00Difference 0.24 0.80 -0.72 0.69 0.03 0.09 0.19 0.04 0.07RLP Medium (10yr) Index Linked 1.00% 1.00% Active 4.94 2.83 4.60 -1.31 10.10 0.50 2.01 3.27 4.48 4.81 22.09.04Composite Benchmark 2.73 3.41 -1.29 9.79 0.20 1.59 2.89 4.43 4.73Difference 0.10 1.19 -0.02 0.31 0.30 0.42 0.38 0.05 0.08RLP Short (5yr) Corporate Bond 1.00% 1.00% Active 4.13 2.66 2.57 -0.11 8.73 1.96 1.70 3.12 4.81 4.23 22.09.04Composite Benchmark 2.88 2.38 -0.72 6.22 2.00 1.50 2.53 4.04 3.66Difference -0.22 0.19 0.61 2.51 -0.04 0.20 0.59 0.77 0.57RLP Short (5yr) Gilt 1.00% 1.00% Active 2.34 3.40 2.14 -1.49 2.61 2.35 1.33 1.79 2.38 3.15 22.09.04Composite Benchmark 3.09 1.80 -1.53 2.51 2.56 1.10 1.67 2.37 3.15Difference 0.31 0.34 0.04 0.10 -0.21 0.23 0.12 0.01 0.00RLP Short (5yr) Index Linked 1.00% 1.00% Active 2.92 0.49 2.97 -1.43 6.08 0.20 0.66 1.63 2.09 3.13 22.09.04Composite Benchmark 0.76 2.38 -1.34 5.80 0.05 0.59 1.50 2.09 3.09Difference -0.27 0.59 -0.09 0.28 0.15 0.07 0.13 0.00 0.04RLP Short Duration Global High Yield 1.00% 1.00% Active 5.66 -1.92 2.33 0.90 3.07 2.67 0.42 1.39 N/A N/A 18.02.13LIBOR GBP 3 Months Index -0.30 -0.18 -0.53 -0.60 -0.42 -0.33 -0.40 N/A N/ADifference -1.62 2.51 1.43 3.67 3.09 0.75 1.79 N/A N/ARLP Sterling Extra Yield Bond 1.00% 1.00% Active 11.31 -5.81 4.50 6.05 17.79 -0.17 1.44 4.18 7.82 N/A 29.03.10Composite Benchmark 3.08 3.19 -0.22 10.00 1.76 2.00 3.50 5.93 N/ADifference -8.89 1.31 6.27 7.79 -1.93 -0.56 0.68 1.89 N/ARLP Sustainable Managed Income Trust 1.00% 1.00% Active N/A 5.34 N/A N/A N/A N/A N/A N/A N/A N/A 25.06.18Markit iBoxx Sterling Non-Gilts All Maturities Index 5.24 N/A N/A N/A N/A N/A N/A N/A N/ADifference 0.10 N/A N/A N/A N/A N/A N/A N/A N/ARLP UK Government Bond 1.00% 1.00% Active 5.84 10.99 3.96 -1.02 6.32 4.34 4.53 4.84 4.84 N/A 29.03.10FTSE Actuaries UK Conventional Gilts All Stocks Index 10.86 3.11 -0.50 5.75 4.53 4.38 4.68 4.85 N/ADifference 0.13 0.85 -0.52 0.57 -0.19 0.15 0.16 -0.01 N/ARLP/Baillie Gifford High Yield Bond 1.30% 1.33% Active 11.33 -2.00 3.65 1.34 10.11 0.35 0.97 2.61 5.67 N/A 29.03.10BofA Merrill Lynch European Currency High Yield Index -1.91 2.39 1.22 8.92 0.54 0.55 2.17 5.71 N/ADifference -0.09 1.26 0.12 1.19 -0.19 0.42 0.44 -0.04 N/ARLP/BlackRock Long Gilt Index 1.00% 1.00% Tracker 10.78 19.54 5.89 0.00 11.92 8.06 8.17 8.88 8.92 6.99 30.05.03FTSE Actuaries UK Conventional Gilts Over 15 years Index 20.25 4.93 0.73 10.85 7.84 8.31 8.72 8.87 7.02Difference -0.71 0.96 -0.73 1.07 0.22 -0.14 0.16 0.05 -0.03RLP/BlackRock Over 5 years Index linked Gilt Index 1.00% 1.00% Tracker 12.37 6.88 11.07 -2.94 23.58 1.85 4.83 7.71 8.48 N/A 07.09.09FTSE Actuaries UK Index-Linked Gilts Over 5 years Index 9.17 8.24 -1.48 22.20 0.95 5.20 7.50 8.49 N/ADifference -2.29 2.83 -1.46 1.38 0.90 -0.37 0.21 -0.01 N/ARLP/BlackRock UK All Stocks Corporate Bond Index 1.00% 1.00% Tracker 6.15 5.01 3.06 -1.32 9.57 1.82 2.21 3.56 4.97 N/A 26.11.07Markit iBoxx Sterling Non Gilts Overall Index 5.24 3.17 -1.12 8.37 2.40 2.39 3.56 5.01 N/ADifference -0.23 -0.11 -0.20 1.20 -0.58 -0.18 0.00 -0.04 N/A


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GOVERNMENT & CORPORATE BOND CONTINUED


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP/Fidelity Moneybuilder Income 1.25% 1.41% Active 5.81 4.17 3.09 -1.13 8.35 1.98 2.02 3.24 4.99 N/A 29.03.10BofA Merrill Lynch Euro-Sterling Index 5.08 3.02 -1.21 8.22 2.05 2.26 3.38 4.84 N/ADifference -0.91 0.07 0.08 0.13 -0.07 -0.24 -0.14 0.15 N/ARLP/Fidelity Strategic Bond 1.35% 1.51% Active 5.19 3.92 3.86 -1.72 3.63 0.97 1.99 2.11 4.37 N/A 29.03.10BofA Merrill Lynch Sterling Large Cap Index 9.35 2.97 -1.03 6.34 3.66 3.67 4.19 4.77 N/ADifference -5.43 0.89 -0.69 -2.71 -2.69 -1.68 -2.08 -0.40 N/ARLP/Invesco Corporate Bond 1.45% 1.61% Active 4.41 4.18 2.13 0.21 6.23 1.41 2.16 2.81 4.65 N/A 26.10.09IA £ Corporate Bond Sector Average 5.57 3.95 -0.11 9.94 2.22 3.11 4.25 5.79 N/ADifference -1.39 -1.82 0.32 -3.71 -0.81 -0.95 -1.44 -1.14 N/ARLP/Invesco Global Bond 1.45% 1.62% Active 5.43 3.25 2.80 -2.57 9.35 3.78 1.12 3.25 2.59 N/A 26.10.09IA Global Bonds Sector Average 3.96 5.46 -0.64 13.65 5.02 2.89 5.38 4.39 N/ADifference -0.71 -2.66 -1.93 -4.30 -1.24 -1.77 -2.13 -1.80 N/ARLP/Invesco Monthly Income Plus 1.58% 1.67% Active 8.41 1.04 0.92 0.00 9.55 -0.64 0.65 2.11 5.40 N/A 29.03.10IA £ Strategic Bond Sector Average 3.14 3.32 0.22 8.78 0.95 2.21 3.23 5.14 N/ADifference -2.10 -2.40 -0.22 0.77 -1.59 -1.56 -1.12 0.26 N/ARLP/Investec Emerging Markets Local Currency Debt 1.70% 1.84% Active 11.54 3.35 2.35 -2.11 26.70 -5.50 1.17 4.39 1.29 N/A 29.03.10JPM GBI-EM Global Diversified IndexDifference N/A N/A N/A N/A N/A N/A N/A 1.29 N/ARLP/M&G Corporate Bond 1.45% 1.61% Active 6.61 3.96 2.23 -0.27 7.29 3.20 1.96 3.25 4.96 N/A 29.03.10IA £ Corporate Bond Sector Average 5.57 3.95 -0.11 9.94 2.22 3.11 4.25 5.79 N/ADifference -1.61 -1.72 -0.16 -2.65 0.98 -1.15 -1.00 -0.83 N/ARLP/M&G Global High Yield Bond 1.58% 1.74% Active 9.27 -2.16 1.50 0.27 11.38 -1.43 -0.14 1.80 4.56 N/A 29.03.10IA £ High Yield Sector Average -2.27 3.05 0.90 11.56 0.96 0.54 2.73 5.50 N/ADifference 0.11 -1.55 -0.63 -0.18 -2.39 -0.68 -0.93 -0.94 N/ARLP/M&G Optimal Income 1.58% 1.74% Active 6.77 -1.23 0.00 1.10 7.18 1.35 -0.05 1.64 4.44 N/A 29.03.10IA £ Strategic Bond Sector Average 3.14 3.32 0.22 8.78 0.95 2.21 3.23 5.14 N/ADifference -4.37 -3.32 0.88 -1.60 0.40 -2.26 -1.59 -0.70 N/ARLP/M&G Strategic Corporate Bond 1.45% 1.61% Active 7.27 3.86 1.37 0.21 7.64 1.73 1.80 2.93 4.81 N/A 29.03.10IA £ Corporate Bond Sector Average 5.57 3.95 -0.11 9.94 2.22 3.11 4.25 5.79 N/ADifference -1.71 -2.58 0.32 -2.30 -0.49 -1.31 -1.32 -0.98 N/A

PROPERTY


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Property 1.00% 1.00% Active 1.93 -3.26 3.24 7.08 1.48 8.50 2.26 3.32 5.64 3.02 01.03.84ABI UK Direct Property Sector Average -4.79 1.82 8.17 1.91 5.08 1.59 2.34 4.45 2.81Difference 1.53 1.42 -1.09 -0.43 3.42 0.67 0.98 1.19 0.21RLP/Schroder Global Cities Real Estate 1.70% 1.87% Active 14.98 -3.53 12.01 2.18 15.93 3.94 3.35 5.87 7.42 N/A 26.10.09FTSE EPRA/NAREIT -16.08 12.62 1.08 15.29 7.49 -1.51 3.43 6.58 N/ADifference 12.55 -0.61 1.10 0.64 -3.55 4.86 2.44 0.84 N/A


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Benchmark performance figures unavailable

MIXED ASSET


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Adventurous Managed 1.00% 1.00% Active 10.69 -2.58 0.11 6.41 19.17 -2.51 1.24 3.81 6.38 6.03 30.09.04Composite Benchmark -2.27 0.21 6.38 19.64 -1.37 1.37 4.21 6.81 5.90Difference -0.31 -0.10 0.03 -0.47 -1.14 -0.13 -0.40 -0.43 0.13RLP Defensive Managed 1.00% 1.00% Active 6.32 -1.36 0.86 3.45 11.60 -0.36 0.96 2.73 4.91 4.94 30.09.96Composite Benchmark -1.00 0.68 3.12 10.82 0.23 0.92 2.68 4.63 4.38Difference -0.36 0.18 0.33 0.78 -0.59 0.04 0.05 0.28 0.56RLP Managed 1.00% 1.00% Active 9.36 -2.04 0.62 5.43 17.05 -1.71 1.29 3.63 6.22 5.67 01.03.84Composite Benchmark -1.48 0.55 5.16 16.99 -0.76 1.37 3.87 6.40 5.63Difference -0.56 0.07 0.27 0.06 -0.95 -0.08 -0.24 -0.18 0.04RLP Sustainable Diversified Trust 1.00% 1.00% Active 9.19 13.45 4.97 5.59 19.29 N/A 7.93 N/A N/A N/A 13.11.15IA Mixed Investment (20-60% Shares) Sector Average 0.00 0.57 2.15 14.48 N/A 0.90 N/A N/A N/ADifference 13.45 4.40 3.44 4.81 N/A 7.03 N/A N/A N/ARLP Sustainable Managed Growth Trust 1.00% 1.00% Active N/A 7.72 N/A N/A N/A N/A N/A N/A N/A N/A 25.06.18IA Mixed Investment (0-35% Shares) Sector Average 2.49 N/A N/A N/A N/A N/A N/A N/A N/ADifference 5.23 N/A N/A N/A N/A N/A N/A N/A N/ARLP Sustainable World Trust 1.00% 1.00% Active N/A 19.96 N/A N/A N/A N/A N/A N/A N/A N/A 25.06.18IA Mixed Investment (40-85% Shares) Sector Average 0.89 N/A N/A N/A N/A N/A N/A N/A N/ADifference 19.07 N/A N/A N/A N/A N/A N/A N/A N/ARLP/7IM AAP Adventurous 1.45% 1.63% Active 11.99 -0.59 -3.46 6.35 21.15 -11.29 0.69 1.87 N/A N/A 08.05.12IA Flexible Investment Sector Average 1.10 -0.28 4.91 21.76 -4.65 1.88 4.19 N/A N/ADifference -1.69 -3.18 1.44 -0.61 -6.64 -1.19 -2.32 N/A N/ARLP/7IM AAP Balanced 1.45% 1.61% Active 7.97 1.16 -2.42 2.72 13.82 -8.66 0.46 1.06 N/A N/A 08.05.12IA Mixed Investment (20-60% Shares) Sector Average 0.00 0.57 2.15 14.48 -2.16 0.90 2.84 N/A N/ADifference 1.16 -2.99 0.57 -0.66 -6.50 -0.44 -1.78 N/A N/ARLP/7IM AAP Moderately Adventurous 1.45% 1.60% Active 10.10 0.56 -2.98 4.83 19.10 -10.65 0.75 1.71 N/A N/A 08.05.12IA Mixed Investment (40-85% Shares) Sector Average 1.05 0.46 4.35 19.49 -3.41 1.94 4.10 N/A N/ADifference -0.49 -3.44 0.48 -0.39 -7.24 -1.19 -2.39 N/A N/ARLP/7IM AAP Moderately Cautious 1.45% 1.62% Active 5.80 2.10 -1.80 0.69 7.13 -4.85 0.32 0.57 N/A N/A 08.05.12IA Mixed Investment (0-35% Shares) Sector Average 1.48 1.45 0.95 10.77 -0.77 1.29 2.69 N/A N/ADifference 0.62 -3.25 -0.26 -3.64 -4.08 -0.97 -2.12 N/A N/ARLP/BlackRock Consensus 85 1.00% 1.00% Tracker 10.92 1.26 0.34 3.03 21.95 -2.51 1.54 4.47 6.45 6.11 31.05.02ABI Mixed Investment (40-85% Shares) Sector Average 0.89 0.33 3.97 19.53 -3.70 1.72 3.91 6.19 5.87Difference 0.37 0.01 -0.94 2.42 1.19 -0.18 0.56 0.26 0.24RLP/BMF Balanced 1.45% 2.23% Active 13.09 1.55 -1.26 5.83 16.72 -5.15 2.00 3.27 N/A N/A 08.05.12IA Mixed Investment (40-85% Shares) Sector Average 1.05 0.46 4.35 19.49 -3.41 1.94 4.10 N/A N/ADifference 0.50 -1.72 1.48 -2.77 -1.74 0.06 -0.83 N/A N/ARLP/BMF Cautious Growth 1.45% 2.12% Active 9.85 -0.29 0.37 1.41 12.45 -0.50 0.49 2.57 N/A N/A 08.05.12IA Mixed Investment (20-60% Shares) Sector Average 0.00 0.57 2.15 14.48 -2.16 0.90 2.84 N/A N/ADifference -0.29 -0.20 -0.74 -2.03 1.66 -0.41 -0.27 N/A N/ARLP/BMF Defensive Income 1.45% 2.10% Active 6.93 0.00 1.31 -0.89 8.55 -1.90 0.13 1.34 N/A N/A 08.05.12IA Mixed Investment (0-35% Shares) Sector Average 1.48 1.45 0.95 10.77 -0.77 1.29 2.69 N/A N/ADifference -1.48 -0.14 -1.84 -2.22 -1.13 -1.16 -1.35 N/A N/ARLP/Invesco Distribution 1.64% 1.77% Active 9.55 -1.46 0.83 -1.46 10.80 -1.86 -0.70 1.26 5.43 N/A 29.03.10IA Mixed Investment (20-60% Shares) Sector Average 0.00 0.57 2.15 14.48 -2.16 0.90 2.84 4.92 N/ADifference -1.46 0.26 -3.61 -3.68 0.30 -1.60 -1.58 0.51 N/A

Fund Details

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Compound Annual Growth Rate (%)

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Percentage Change

MIXED ASSET CONTINUED


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP/Investec Cautious Managed 1.58% 1.66% Active 11.09 -8.05 -6.35 0.92 14.61 -4.98 -4.57 -1.10 2.27 N/A 26.10.09UK Consumer Price Index -1.07 0.42 0.82 1.26 -1.27 0.05 0.03 0.36 N/ADifference -6.98 -6.77 0.10 13.35 -3.71 -4.62 -1.13 1.91 N/ARLP/Jupiter Merlin Balanced Portfolio 1.70% 2.57% Active 11.25 1.70 2.77 4.60 20.12 -2.51 3.01 5.06 6.57 N/A 29.03.10IA Mixed Investment (40-85% Shares) Sector Average 0.92 0.69 4.37 19.58 -3.40 1.98 4.14 6.35 N/ADifference 0.78 2.08 0.23 0.54 0.89 1.03 0.92 0.22 N/ARLP/Jupiter Merlin Growth Portfolio 1.70% 2.69% Active 14.20 3.46 3.06 4.99 22.59 -4.46 3.83 5.56 7.36 N/A 29.03.10IA Flexible Investment Sector Average 0.92 -0.11 4.96 21.98 -4.67 1.90 4.23 6.17 N/ADifference 2.54 3.17 0.03 0.61 0.21 1.93 1.33 1.19 N/ARLP/Jupiter Merlin Income Portfolio 1.70% 2.42% Active 9.10 1.90 1.35 1.22 13.68 -4.46 1.49 2.57 4.60 N/A 29.03.10IA Mixed Investment (20-60% Shares) Sector Average -0.07 0.67 2.10 14.55 -2.09 0.90 2.87 4.91 N/ADifference 1.97 0.68 -0.88 -0.87 -2.37 0.59 -0.30 -0.31 N/ARLP/Man GLG Balanced Managed 1.45% 1.60% Active 12.00 -4.25 -2.96 4.70 19.13 -8.79 -0.92 1.11 5.57 4.89 31.05.02IA Mixed Investment (40-85% Shares) Sector Average 0.92 0.69 4.37 19.58 -3.40 1.98 4.14 6.35 5.95Difference -5.17 -3.65 0.33 -0.45 -5.39 -2.90 -3.03 -0.78 -1.06RLP/Man GLG Stockmarket Managed 1.45% 1.60% Active 12.62 -2.77 -2.65 6.35 20.51 -9.59 0.22 1.86 6.15 5.32 31.05.02IA Flexible Investment Sector Average 0.92 -0.11 4.96 21.98 -4.67 1.90 4.23 6.17 6.03Difference -3.69 -2.54 1.39 -1.47 -4.92 -1.68 -2.37 -0.02 -0.71RLP/Neptune Balanced 1.70% 1.82% Active 11.28 14.41 -0.70 12.79 21.42 -9.57 8.61 7.06 7.02 N/A 29.03.10IA Mixed Investment (40-85% Shares) Sector Average 1.05 0.46 4.35 19.49 -3.41 1.94 4.10 6.35 N/ADifference 13.36 -1.16 8.44 1.93 -6.16 6.67 2.96 0.67 N/ARLP/Neptune Global Alpha 1.95% 2.08% Active 15.75 21.41 -2.46 24.54 25.11 -16.12 13.82 9.12 9.83 N/A 29.03.10MSCI World Index 9.46 5.86 8.84 32.01 1.28 8.03 11.00 11.67 N/ADifference 11.95 -8.32 15.70 -6.90 -17.40 5.79 -1.88 -1.84 N/ARLP/BNY Mellon Multi-Asset Balanced 1.45% 1.56% Active 11.55 3.38 4.57 0.17 16.09 -1.59 2.69 4.34 5.34 N/A 21.01.08IA Mixed Investment (40-85% Shares) Sector Average 1.05 0.46 4.35 19.49 -3.41 1.94 4.10 6.35 N/ADifference 2.33 4.11 -4.18 -3.40 1.82 0.75 0.24 -1.01 N/ARLP/BNY Mellon Multi-Asset Growth 1.45% 1.57% Active 15.69 1.94 0.00 5.60 18.83 0.86 2.48 5.22 7.96 N/A 21.01.08IA Flexible Investment Sector Average 1.10 -0.28 4.91 21.76 -4.65 1.88 4.19 6.18 N/ADifference 0.84 0.28 0.69 -2.93 5.51 0.60 1.03 1.78 N/ARLP/Rathbone Enhanced Growth 1.45% 1.75% Active 11.65 2.29 0.75 6.36 24.61 -5.32 3.10 5.27 N/A N/A 08.05.12Composite Benchmark 3.54 5.48 5.86 6.36 3.79 4.95 4.99 N/A N/ADifference -1.25 -4.73 0.50 18.25 -9.11 -1.85 0.28 N/A N/ARLP/Rathbone Strategic Growth 1.45% 1.59% Active 8.54 1.35 1.72 4.15 15.74 -1.31 2.40 4.16 N/A N/A 08.05.12UK Consumer Price Index +3% 1.75 3.51 3.90 4.37 1.82 3.04 3.06 N/A N/ADifference -0.40 -1.79 0.25 11.37 -3.13 -0.64 1.10 N/A N/ARLP/Rathbone Total Return 1.45% 1.59% Active 4.77 2.15 2.20 0.08 6.58 0.09 1.47 2.19 N/A N/A 08.05.12LIBOR GBP 6 Months +2% Index 1.29 1.45 1.11 1.07 1.25 1.28 1.23 N/A N/ADifference 0.86 0.75 -1.03 5.51 -1.16 0.19 0.96 N/A N/ARLP/Schroder Managed Balanced 1.35% 1.45% Active 11.79 0.00 -3.03 4.43 21.01 -5.49 0.42 2.98 5.54 5.71 29.06.98IA Mixed Investment (40-85% Shares) Sector Average 1.05 0.46 4.35 19.49 -3.41 1.94 4.10 6.35 5.94Difference -1.05 -3.49 0.08 1.52 -2.08 -1.52 -1.12 -0.81 -0.23RLP/Schroder MM Diversity 1.35% 2.10% Active 6.59 1.13 -1.54 -1.60 7.23 -3.66 -0.68 0.24 N/A N/A 08.05.12UK Consumer Price Index -0.84 0.65 1.05 1.50 -1.04 0.28 0.26 N/A N/ADifference 1.97 -2.19 -2.65 5.73 -2.62 -0.96 -0.02 N/A N/A


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MIXED ASSET CONTINUED


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP/Schroder MM Diversity Balanced 1.35% 2.17% Active 10.63 -2.60 -3.56 0.00 16.60 -4.28 -2.06 0.95 N/A N/A 08.05.12IA Mixed Investment (40-85% Shares) Sector Average 1.05 0.46 4.35 19.49 -3.41 1.94 4.10 N/A N/ADifference -3.65 -4.02 -4.35 -2.89 -0.87 -4.00 -3.15 N/A N/ARLP/Schroder MM Diversity Tactical 1.35% 2.20% Active 10.37 -0.85 -3.16 -0.41 15.94 -4.11 -1.48 1.23 N/A N/A 08.05.12Composite Benchmark -3.04 -1.47 4.64 21.40 -3.96 -0.01 3.11 N/A N/ADifference 2.19 -1.69 -5.05 -5.46 -0.15 -1.47 -1.88 N/A N/ARLP/UBS Global Allocation 1.40% 1.46% Active 11.28 -4.76 0.10 3.58 21.74 -7.18 -0.42 2.22 4.85 N/A 21.01.08IA Mixed Investment (40-85% Shares) Sector Average 1.05 0.46 4.35 19.49 -3.41 1.94 4.10 6.35 N/ADifference -5.81 -0.36 -0.77 2.25 -3.77 -2.36 -1.88 -1.50 N/A

UK EQUITY


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Equity Income 1.00% 1.00% Active 16.52 -11.65 -3.60 3.32 23.18 -3.87 -4.17 0.82 8.46 N/A 29.03.10FTSE All Share Index -12.05 -4.13 5.47 23.28 -7.24 -3.83 0.34 5.01 N/ADifference 0.40 0.53 -2.15 -0.10 3.37 -0.34 0.48 3.45 N/ARLP Sustainable Leaders Trust 1.00% 1.00% Active 12.76 9.57 5.09 6.34 17.42 -12.05 6.98 4.80 8.07 8.19 01.11.99FTSE All Share Index -12.05 -4.13 5.47 23.28 -7.24 -3.83 0.34 5.01 4.71Difference 21.62 9.22 0.87 -5.86 -4.81 10.81 4.46 3.06 3.48RLP UK Equity 1.00% 1.00% Active 15.67 -9.37 -4.69 5.95 22.26 -8.01 -2.91 0.58 5.54 5.15 01.03.84FTSE All Share Index -12.05 -4.13 5.47 23.28 -7.24 -3.83 0.34 5.01 4.71Difference 2.68 -0.56 0.48 -1.02 -0.77 0.92 0.24 0.53 0.44RLP UK Mid Cap 1.00% 1.00% Active 19.97 -8.70 -2.33 11.22 18.28 -10.49 -0.27 0.98 9.28 8.89 01.11.99FTSE 250 Mid Index -8.86 -7.32 6.12 18.30 -3.77 -3.58 0.40 7.67 7.83Difference 0.16 4.99 5.10 -0.02 -6.72 3.31 0.58 1.61 1.06RLP UK Opportunities 1.00% 1.00% Active 22.26 -7.29 -9.88 5.86 14.78 -7.51 -4.00 -1.25 5.02 N/A 29.03.10FTSE All Share Index -12.05 -4.13 5.47 23.28 -7.24 -3.83 0.34 5.01 N/ADifference 4.76 -5.75 0.39 -8.50 -0.27 -0.17 -1.59 0.01 N/ARLP UK Smaller Companies 1.00% 1.00% Active 18.92 -0.39 -0.39 7.66 22.25 -2.56 2.22 4.93 11.55 N/A 29.03.10FTSE Small Cap (ex Inv Trusts) Index -17.94 -8.59 4.55 22.76 -0.75 -7.77 -0.90 7.14 N/ADifference 17.55 8.20 3.11 -0.51 -1.81 9.99 5.83 4.41 N/ARLP/Baillie Gifford UK Equity 1.40% 1.42% Active 17.78 -11.05 -3.86 11.83 23.28 -7.20 -1.48 1.81 7.45 N/A 12.01.08FTSE All Share Index -11.17 -3.81 4.99 22.23 -7.78 -3.56 0.22 4.81 N/ADifference 0.12 -0.05 6.84 1.05 0.58 2.08 1.59 2.64 N/ARLP/BlackRock ACS UK Equity Index 1.00% 1.00% Tracker 15.13 -10.27 -4.74 4.89 22.87 -7.37 -3.57 0.40 5.10 4.72 31.05.02FTSE All Share Index -12.05 -4.13 5.47 23.28 -7.24 -3.83 0.34 5.01 4.71Difference 1.78 -0.61 -0.58 -0.41 -0.13 0.26 0.06 0.09 0.01RLP/BlackRock UK Equity 1.35% 1.38% Active 17.84 -4.60 -0.74 6.12 24.86 -4.04 0.16 3.78 7.06 N/A 21.01.08FTSE All Share Index -12.36 -4.47 5.10 22.85 -7.56 -4.17 -0.02 4.64 N/ADifference 7.76 3.73 1.02 2.01 3.52 4.33 3.80 2.42 N/ARLP/Dimensional UK Core Equity 1.12% 1.19% Tracker 16.49 -12.74 -5.70 6.73 22.35 -8.85 -4.23 -0.41 N/A N/A 06.03.15FTSE All-Share Index -12.16 -4.25 5.34 23.14 -7.35 -3.95 0.22 N/A N/ADifference -0.58 -1.45 1.39 -0.79 -1.50 -0.28 -0.63 N/A N/A


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UK EQUITY CONTINUED


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP/Fidelity UK Select 1.70% 1.87% Active 16.14 -8.05 0.57 2.24 19.99 -6.91 -1.85 1.10 5.27 4.77 29.06.98FTSE All Share Index -12.67 -4.80 4.73 22.42 -7.89 -4.51 -0.36 4.27 3.98Difference 4.62 5.37 -2.49 -2.43 0.98 2.66 1.46 1.00 0.79RLP/Invesco High Income 1.70% 1.87% Active 18.87 -29.21 -9.53 -4.68 13.88 -3.93 -15.16 -7.75 N/A N/A 28.11.11FTSE All Share Index -12.67 -4.80 4.73 22.42 -7.89 -4.51 -0.36 N/A N/ADifference -16.54 -4.73 -9.41 -8.54 3.96 -10.65 -7.39 N/A N/ARLP/Investec UK Special Situations 1.70% 1.78% Active 22.28 -19.10 -5.79 2.38 19.51 -8.40 -7.93 -3.10 N/A 28.11.11FTSE All Share Index -12.67 -4.80 4.73 22.42 -7.89 -4.51 -0.36 N/A N/ADifference -6.43 -0.99 -2.35 -2.91 -0.51 -3.42 -2.74 N/A N/ARLP/M&G Recovery 1.70% 1.86% Active 22.51 -22.83 -11.52 6.84 25.93 -13.56 -9.97 -4.50 0.86 N/A 29.03.10FTSE All Share Index -12.67 -4.80 4.73 22.42 -7.89 -4.51 -0.36 4.27 N/ADifference -10.16 -6.72 2.11 3.51 -5.67 -5.46 -4.14 -3.41 N/ARLP/Schroder Income Maximiser 1.70% 1.86% Active 15.09 -23.42 -7.70 9.45 18.34 -8.50 -8.19 -3.48 2.93 N/A 29.03.10FTSE All Share Index -12.67 -4.80 4.73 22.42 -7.89 -4.51 -0.36 4.27 N/ADifference -10.75 -2.90 4.72 -4.08 -0.61 -3.68 -3.12 -1.34 N/ARLP/Schroder MM UK Growth 1.35% 2.23% Active 17.51 -15.27 -6.46 2.31 18.77 -7.55 -6.74 -2.29 N/A N/A 08.05.12FTSE All Share Index -12.36 -4.47 5.10 22.85 -7.56 -4.17 -0.02 N/A N/ADifference -2.91 -1.99 -2.79 -4.08 0.01 -2.57 -2.27 N/A N/ARLP UK Equity Core Plus (Close Teams UK Equities (1%)) 1.35% 1.38% Active 20.55 -10.29 -1.09 6.84 24.59 -8.01 -1.76 1.67 6.26 5.32 31.05.02

FTSE All Share Index -11.69 -3.70 4.10 22.60 -7.60 -3.98 0.06 4.72 4.38Difference 1.40 2.61 2.74 1.99 -0.41 2.22 1.61 1.54 0.94RLP UK Equity Core Plus (Close Teams UK Equities (2%)) 1.60% 1.65% Active 23.64 -9.20 0.61 9.95 25.89 -9.12 0.15 2.82 7.16 5.93 31.05.02

FTSE All Share Index -11.91 -3.94 3.84 22.29 -7.83 -4.22 -0.19 4.46 4.12Difference 2.71 4.55 6.11 3.60 -1.29 4.37 3.01 2.70 1.81RLP UK Equity Core Plus (JPM UK Equity Growth) 1.70% 1.70% Active 16.60 -6.61 -3.84 2.65 22.37 -9.11 -2.67 0.50 6.34 5.59 29.06.98FTSE All Share Index -12.67 -4.80 4.73 22.42 -7.89 -4.51 -0.36 4.27 3.98Difference 6.06 0.96 -2.08 -0.05 -1.22 1.84 0.86 2.07 1.61RLP UK Equity Specialist (Baillie Gifford UK Equity Alpha) 1.50% 1.51% Active 20.50 2.69 -11.89 2.59 13.61 -3.33 -2.45 0.38 5.87 N/A 31.03.06

FTSE All Share Index -12.67 -4.80 4.73 22.42 -7.89 -4.51 -0.36 4.27 N/ADifference 15.36 -7.09 -2.14 -8.81 4.56 2.06 0.74 1.60 N/ARLP UK Equity Specialist (Invesco UK Growth) 1.60% 1.76% Active 16.07 -11.69 -12.93 4.86 24.03 -13.08 -6.92 -2.76 6.61 4.84 29.06.98FTSE All Share Index -12.58 -4.71 4.84 22.55 -7.80 -4.41 -0.26 4.38 4.08Difference 0.89 -8.22 0.02 1.48 -5.28 -2.51 -2.50 2.23 0.76RLP UK Equity Specialist (Schroder UK Alpha Plus) 1.70% 1.86% Active 16.48 -10.94 -5.99 3.43 18.47 -7.38 -4.68 -1.01 5.48 N/A 31.03.06FTSE All Share Index -12.67 -4.80 4.73 22.42 -7.89 -4.51 -0.36 4.27 N/ADifference 1.73 -1.19 -1.30 -3.95 0.51 -0.17 -0.65 1.21 N/ARLP UK Income Core Plus (Artemis Income) 1.70% 1.74% Active 14.54 -9.80 -6.81 6.50 18.94 -5.66 -3.62 0.09 6.13 N/A 31.03.06FTSE 350 Higher Yield Index -21.22 -6.24 4.07 26.20 -10.02 -8.39 -2.68 2.90 N/ADifference 11.42 -0.57 2.43 -7.26 4.36 4.77 2.77 3.23 N/A


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UK EQUITY CONTINUED


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP UK Income Specialist (Fidelity Moneybuilder Dividend) 1.30% 1.47% Active 13.09 -6.12 -5.00 -5.15 16.05 -1.40 -5.42 -0.65 6.19 N/A 31.03.06

FTSE 350 Higher Yield Index -20.90 -5.86 4.48 26.71 -9.66 -8.02 -2.29 3.31 N/ADifference 14.78 0.86 -9.63 -10.66 8.26 2.60 1.64 2.88 N/ARLP UK Mid Cap Specialist (Franklin UK Mid Cap) 1.70% 1.77% Active 21.68 -10.19 -5.47 12.64 18.77 -7.47 -1.48 1.00 7.95 N/A 31.03.06FTSE 250 Mid Index -9.50 -7.96 5.38 17.47 -4.45 -4.25 -0.30 6.92 N/ADifference -0.69 2.49 7.26 1.30 -3.02 2.77 1.30 1.03 N/ARLP UK Small Cap Specialist (Investec UK Smaller Companies) 1.70% 1.78% Active 19.66 -5.27 -1.43 13.97 18.15 2.24 2.09 5.14 12.04 N/A 31.03.06

FTSE Small Cap (ex Inv Trusts) Index -18.51 -9.22 3.82 21.90 -1.45 -8.42 -1.60 6.39 N/ADifference 13.24 7.79 10.15 -3.75 3.69 10.51 6.74 5.65 N/A

US EQUITY


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP American 1.00% 1.00% Tracker 15.63 13.19 7.91 9.36 31.97 3.11 10.12 12.68 13.26 9.63 01.03.84FTSE USA Index 12.69 8.83 10.62 32.46 3.94 10.71 13.29 13.78 10.55Difference 0.50 -0.92 -1.26 -0.49 -0.83 -0.59 -0.61 -0.52 -0.92RLP/BlackRock ACS US Equity Index 1.00% 1.00% Tracker 15.42 13.55 8.23 10.20 32.40 4.11 10.63 13.28 13.55 10.35 31.05.02FTSE USA Index 14.50 8.30 10.04 31.40 4.80 10.91 13.43 13.86 10.59Difference -0.95 -0.07 0.16 1.00 -0.69 -0.28 -0.15 -0.31 -0.24RLP/Legg Mason IF Royce US Smaller Companies 1.70% 1.93% Active 23.24 -0.51 -6.11 13.31 33.02 -6.70 1.91 5.60 7.44 N/A 29.03.10Russell 2000 Index -3.22 -5.59 15.19 33.42 -3.09 1.72 6.35 9.13 N/ADifference 2.71 -0.52 -1.88 -0.40 -3.61 0.19 -0.75 -1.69 N/ARLP/Neptune US Opportunities 1.70% 1.85% Active 17.67 12.19 11.63 13.54 34.75 -10.26 12.44 11.43 N/A N/A 28.11.11S&P 500 Index 13.09 7.72 9.10 30.21 4.84 9.94 12.64 N/A N/ADifference -0.90 3.91 4.44 4.54 -15.10 2.50 -1.21 N/A N/ARLP/Schroder US Mid Cap 1.70% 1.86% Active 18.89 -0.91 3.02 4.71 30.65 5.79 2.25 8.11 10.44 N/A 26.10.09Russell 2500 Index -0.58 -0.66 12.83 29.55 -1.36 3.67 7.32 10.22 N/ADifference -0.33 3.68 -8.12 1.10 7.15 -1.42 0.79 0.22 N/ARLP US Core Plus (Merian North American Equity) 1.70% 1.90% Active 16.56 7.78 1.62 7.75 28.82 -2.07 5.67 8.27 8.09 N/A 31.03.06S&P 500 Index 13.09 7.72 9.10 30.21 4.84 9.94 12.64 13.04 N/ADifference -5.31 -6.10 -1.35 -1.39 -6.91 -4.27 -4.37 -4.95 N/A

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EUROPEAN EQUITY


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP European 1.00% 1.00% Active 13.21 4.08 -2.73 0.37 34.97 -6.91 0.54 5.00 7.21 7.07 01.03.84FTSE Europe ex UK Index 0.92 0.74 -0.09 34.40 -4.63 0.52 5.41 7.09 6.69Difference 3.16 -3.47 0.46 0.57 -2.28 0.02 -0.41 0.12 0.38RLP/BlackRock ACS European Equity Index 1.00% 1.00% Tracker 13.50 2.35 -0.22 0.80 33.79 -5.69 0.97 5.36 7.09 6.47 31.05.02FTSE AW Developed Europe ex UK Index 1.11 0.81 0.18 34.39 -4.48 0.70 5.56 7.28 6.82Difference 1.24 -1.03 0.62 -0.60 -1.21 0.27 -0.20 -0.19 -0.35RLP/Jupiter European Special Situations 1.70% 1.97% Active 12.81 5.35 -6.19 -2.01 31.12 -5.33 -1.06 3.75 N/A N/A 28.11.11FTSE World Europe ex UK Index 0.22 0.04 -0.78 33.46 -5.30 -0.18 4.68 N/A N/ADifference 5.13 -6.23 -1.23 -2.34 -0.03 -0.88 -0.93 N/A N/ARLP/Schroder European Recovery 1.70% 1.88% Active 18.48 -17.88 -4.15 -1.26 26.40 -4.72 -8.05 -1.31 N/A N/A 28.11.11FTSE World Europe Ex UK Index 0.22 0.04 -0.78 33.46 -5.30 -0.18 4.68 N/A N/ADifference -18.10 -4.19 -0.48 -7.06 0.58 -7.87 -5.99 N/A N/ARLP Europe Core Plus (Fidelity European Blended) 1.70% 1.88% Active 12.71 4.11 -0.61 1.82 31.73 -4.39 1.75 5.81 7.59 N/A 31.03.06FTSE Europe ex UK Index 0.22 0.04 -0.78 33.46 -5.30 -0.18 4.68 6.34 N/ADifference 3.89 -0.65 2.60 -1.73 0.91 1.93 1.13 1.25 N/ARLP Europe Specialist (Columbia Threadneedle European Select) 1.70% 1.78% Active 12.52 10.76 2.20 7.37 53.85 -13.44 6.71 10.10 9.51 N/A 31.03.06

FTSE Europe ex UK Index 0.27 0.09 -0.73 33.53 -5.25 -0.13 4.73 6.39 N/ADifference 10.49 2.11 8.10 20.32 -8.19 6.84 5.37 3.12 N/A

ASIAN EQUITY


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Far East (ex Japan) 1.00% 1.00% Tracker 14.48 -3.78 -1.78 7.40 39.86 -8.68 0.50 5.32 5.48 8.62 31.05.02FTSE Asia Pacific (ex Japan) Index -4.30 -1.90 8.46 39.18 -8.37 0.61 5.36 6.07 8.42Difference 0.52 0.12 -1.06 0.68 -0.31 -0.11 -0.04 -0.59 0.20RLP Japan 1.00% 1.00% Tracker 11.94 8.74 -6.02 9.81 30.28 -4.94 3.92 6.80 6.77 6.03 31.05.02FTSE Japan Index 8.48 -6.37 10.75 29.64 -3.87 4.00 6.98 7.00 5.83Difference 0.26 0.35 -0.94 0.64 -1.07 -0.08 -0.18 -0.23 0.20RLP Pacific 1.00% 1.00% Tracker 12.36 2.98 -4.31 8.51 33.28 -8.72 2.26 5.40 5.80 7.05 01.03.84FTSE Asia Pacific Index 2.26 -4.25 9.65 34.14 -6.06 2.40 6.23 6.63 7.07Difference 0.72 -0.06 -1.14 -0.86 -2.66 -0.14 -0.83 -0.83 -0.02RLP/BlackRock ACS Japanese Equity Index 1.00% 1.00% Tracker 12.40 10.24 -6.65 9.70 32.41 -5.38 4.12 7.17 7.00 N/A 21.01.08FTSE Japan Index 8.48 -6.37 10.75 29.64 -3.87 4.00 6.98 7.00 N/ADifference 1.76 -0.28 -1.05 2.77 -1.51 0.12 0.19 0.00 N/ARLP/BlackRock Pacific Rim Equity Index 1.00% 1.00% Tracker 14.62 -4.14 -2.47 7.95 40.70 -7.56 0.31 5.58 5.96 N/A 21.01.08FTSE World Asia Pacific (ex Japan) Index -4.30 -1.90 8.16 38.49 -7.56 0.51 5.38 5.93 N/ADifference 0.16 -0.57 -0.21 2.21 0.00 -0.20 0.20 0.03 N/ARLP/Fidelity Asia 1.70% 1.89% Active 15.18 2.69 -5.79 17.88 44.38 -9.36 4.47 8.33 N/A N/A 28.11.11MSCI AC Asia Pacific Ex Japan Index -1.53 -5.04 10.88 39.26 -12.74 1.21 4.72 N/A N/ADifference 4.22 -0.75 7.00 5.12 3.38 3.26 3.61 N/A N/A

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Fund Details

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Percentage Change Compound Annual Growth Rate (%)

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ASIAN EQUITY CONTINUED


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Asia Pacific Core Plus (Stewart Investors Asia Pacific Leaders) 1.80% 1.84% Active 10.96 -4.09 5.07 6.05 26.55 -3.46 2.24 5.47 8.17 N/A 26.10.09

MSCI AC Asia (ex Japan) Index -1.63 -5.13 10.77 39.13 -12.83 1.11 4.62 5.25 N/ADifference -2.46 10.20 -4.72 -12.58 9.37 1.13 0.85 2.92 N/ARLP Asia Pacific Core Plus (Invesco Asian) 1.70% 1.90% Active 15.28 -5.17 -5.09 8.14 55.06 -7.43 -0.90 6.91 7.61 N/A 31.03.06MSCI AC Asia (ex Japan) Index -1.53 -5.04 10.88 39.26 -12.74 1.21 4.72 5.35 N/ADifference -3.64 -0.05 -2.74 15.80 5.31 -2.11 2.19 2.26 N/ARLP Japan Core Plus (Schroder Tokyo) 1.70% 1.86% Active 11.60 3.49 -9.68 9.74 33.03 -6.05 0.85 5.09 6.89 N/A 31.03.06Topix Index 7.22 -7.96 10.46 29.08 -2.88 2.92 6.44 6.35 N/ADifference -3.73 -1.72 -0.72 3.95 -3.17 -2.07 -1.35 0.54 N/ARLP Japan Specialist (Invesco Japan) 1.70% 1.70% Active 13.45 -9.35 -8.29 4.84 30.75 -7.75 -4.48 1.00 3.11 N/A 31.03.06Topix Index 7.22 -7.96 10.46 29.08 -2.88 2.92 6.44 6.35 N/ADifference -16.57 -0.33 -5.62 1.67 -4.87 -7.40 -5.44 -3.24 N/A

GLOBAL EQUITY


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Global Equity 1.00% 1.00% Active 13.67 0.17 0.00 6.58 27.98 -4.32 2.20 5.50 7.56 7.05 31.05.02Composite Benchmark -1.86 0.30 6.75 28.04 -3.37 1.66 5.38 7.85 7.09Difference 2.03 -0.30 -0.17 -0.06 -0.95 0.54 0.12 -0.29 -0.04RLP Global Equity Diversified 1.00% 1.00% Active N/A 03.06.19MSCI World Index N/A N/A N/A N/A N/A N/A N/A N/A N/ADifference N/A N/A N/A N/A N/A N/A N/A N/A N/ARLP Global Equity Select 1.00% 1.00% Active N/A 03.06.19MSCI World Index N/A N/A N/A N/A N/A N/A N/A N/A N/ADifference N/A N/A N/A N/A N/A N/A N/A N/A N/ARLP Global Managed 1.00% 1.00% Active 14.29 -1.22 -0.65 6.66 26.24 -4.96 1.53 4.66 7.48 6.90 01.03.84Composite Benchmark -2.42 -0.08 6.84 27.53 -3.94 1.37 4.99 7.59 6.77Difference 1.20 -0.57 -0.18 -1.29 -1.02 0.16 -0.33 -0.11 0.13RLP Worldwide 1.00% 1.00% Active 13.72 9.18 3.25 7.31 30.31 -1.17 6.54 9.26 9.96 8.56 01.06.89FTSE World Index 7.42 4.05 7.62 31.67 -0.40 6.34 9.53 9.98 8.67Difference 1.76 -0.80 -0.31 -1.36 -0.77 0.20 -0.27 -0.02 -0.11RLP/Baillie Gifford UK & Worldwide Equity 1.40% 1.42% Active 16.55 3.83 -0.56 12.78 31.24 -2.43 5.20 8.31 10.14 N/A 21.01.08Composite Benchmark -6.05 -1.70 6.17 29.45 -6.40 -0.65 3.50 6.29 N/ADifference 9.88 1.14 6.61 1.79 3.97 5.85 4.81 3.85 N/ARLP/BlackRock ACS Global Blend 1.00% 1.00% Tracker 14.11 -1.10 -0.27 6.91 27.08 -4.12 1.78 5.13 7.76 N/A 12.01.09Composite Benchmark -2.42 -0.08 6.84 27.53 -3.94 1.37 4.99 7.59 N/ADifference 1.32 -0.19 0.07 -0.45 -0.18 0.41 0.14 0.17 N/ARLP/BlackRock ACS Global Equity Index (50:50) 1.00% 1.00% Tracker 13.82 -3.00 -2.31 6.80 27.98 -5.08 0.40 4.21 7.14 6.48 30.05.03Composite Benchmark -3.09 -1.08 6.27 28.75 -4.00 0.62 4.71 7.56 7.14Difference 0.09 -1.23 0.53 -0.77 -1.08 -0.22 -0.50 -0.42 -0.66RLP/BlackRock ACS Global Equity Index (60:40) 1.00% 1.00% Tracker 14.08 -4.82 -2.37 5.99 27.35 -5.56 -0.51 3.44 6.65 6.18 31.05.02Composite Benchmark -4.92 -1.69 6.13 27.69 -4.63 -0.27 3.85 7.06 6.68Difference 0.10 -0.68 -0.14 -0.34 -0.93 -0.24 -0.41 -0.41 -0.50RLP/BlackRock ACS World (ex UK) Equity Index 1.00% 1.00% Tracker 14.24 9.48 4.32 8.29 32.66 0.00 7.33 10.40 10.68 N/A 21.01.08FTSE AW ex UK (Developed) 9.59 4.57 8.12 31.86 0.90 7.40 10.50 10.88 N/ADifference -0.11 -0.25 0.17 0.80 -0.90 -0.07 -0.10 -0.20 N/A

Performance figures available after 1 year


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GLOBAL EQUITY CONTINUED


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP/Dimensional Global Core Equity 1.25% 1.31% Tracker 15.97 2.27 1.11 8.41 30.54 -1.14 3.88 7.66 N/A N/A 06.03.15MSCI World Index 8.10 4.55 7.48 30.37 0.02 6.69 9.63 N/A N/ADifference -5.83 -3.44 0.93 0.17 -1.16 -2.81 -1.97 N/A N/ARLP/Dimensional Global Targeted Value 1.45% 1.51% Tracker 22.11 -11.46 -11.86 9.37 32.87 -3.49 -5.14 1.82 N/A N/A 06.03.15MSCI World SMID Value Index -0.48 -2.79 9.89 29.92 -1.15 2.06 6.42 N/A N/ADifference -10.98 -9.07 -0.52 2.95 -2.34 -7.20 -4.60 N/A N/ARLP/Fidelity Special Situations Blended 1.70% 1.86% Active 16.26 -5.96 -3.71 7.10 29.66 -2.07 -1.02 4.25 7.54 N/A 18.09.06Composite Benchmark -2.01 -0.01 6.10 26.64 -3.64 1.30 4.87 7.43 N/ADifference -3.95 -3.70 1.00 3.02 1.57 -2.32 -0.62 0.11 N/ARLP/First State Global Listed Infrastructure 1.70% 1.75% Active 13.26 0.29 15.59 -5.19 32.00 5.97 3.20 8.97 N/A N/A 28.11.11FTSE Global Core Infrastructure 50/50 -1.21 17.85 -3.19 28.94 3.83 4.07 8.57 N/A N/ADifference 1.50 -2.26 -2.00 3.06 2.14 -0.87 0.40 N/A N/ARLP/HSBC Islamic Global Equity Index 1.00% 1.25% Tracker 14.12 22.12 7.30 8.37 30.38 1.42 12.39 13.41 12.21 N/A 21.01.08Dow Jones Islamic Titans 100 Index 21.91 6.22 6.94 28.19 0.85 11.45 12.34 10.84 N/ADifference 0.21 1.08 1.43 2.19 0.57 0.94 1.07 1.37 N/ARLP/Jupiter Ecology 1.70% 1.73% Active 15.70 7.03 -3.08 4.18 28.33 -4.25 2.62 5.83 7.10 N/A 29.03.10FTSE World Index 6.67 3.32 6.86 30.75 -1.10 5.60 8.77 9.22 N/ADifference 0.36 -6.40 -2.68 -2.42 -3.15 -2.98 -2.94 -2.12 N/ARLP/Jupiter Merlin Worldwide Portfolio 1.70% 2.81% Active 14.53 3.72 4.35 6.45 25.45 -5.07 4.83 6.52 7.07 N/A 29.03.10IA Global Sector Average 7.61 3.37 8.48 31.40 -2.85 6.47 9.01 9.55 N/ADifference -3.89 0.98 -2.03 -5.95 -2.22 -1.64 -2.49 -2.48 N/ARLP/M&G Global Themes 1.70% 1.87% Active 15.32 9.38 3.58 5.45 32.02 -4.22 6.10 8.59 6.05 N/A 29.03.10MSCI AC World Index 6.22 3.01 7.23 30.99 -1.96 5.47 8.54 8.95 N/ADifference 3.16 0.57 -1.78 1.03 -2.26 0.63 0.05 -2.90 N/ARLP/M&G Global Dividend 1.70% 1.86% Active 17.65 -1.82 0.13 9.55 32.61 -5.96 2.50 6.07 N/A N/A 18.02.13MSCI AC World Index 6.22 3.01 7.23 30.99 -1.96 5.47 8.54 N/A N/ADifference -8.04 -2.88 2.32 1.62 -4.00 -2.97 -2.47 N/A N/ARLP/Neptune Global Equity 1.70% 1.90% Active 14.51 21.48 -3.80 20.55 26.21 -12.27 12.09 9.29 7.65 N/A 29.03.10MSCI World Index 5.67 2.45 6.67 30.28 -2.52 4.91 7.95 8.37 N/ADifference 15.81 -6.25 13.88 -4.07 -9.75 7.18 1.34 -0.72 N/ARLP/BNY Mellon Global Income 1.70% 1.82% Active 13.66 -2.48 11.19 -0.58 27.19 9.52 2.53 8.46 9.64 N/A 29.03.10FTSE World Index 6.67 3.32 6.86 30.75 -1.10 5.60 8.77 9.22 N/ADifference -9.15 7.87 -7.44 -3.56 10.62 -3.07 -0.31 0.42 N/ARLP/Sarasin Food & Agriculture Opportunities 1.70% 1.93% Active 17.63 -7.10 3.51 13.23 27.48 0.10 2.87 6.79 N/A N/A 18.02.13Not AvailableDifference N/A N/A N/A N/A N/A N/A N/A N/A N/ARLP/Schroder MM International 1.35% 2.19% Active 14.10 5.59 0.92 2.50 30.19 -2.06 2.98 6.84 N/A N/A 08.05.12FTSE All World (ex UK) Index 7.63 3.64 7.71 32.13 -1.01 6.30 9.45 N/A N/ADifference -2.04 -2.72 -5.21 -1.94 -1.05 -3.32 -2.61 N/A N/ARLP/UBS Global Blend (50:50) 1.60% 1.83% Active 16.75 -10.66 -5.28 8.33 34.13 -10.00 -2.85 2.04 5.39 N/A 21.01.08Composite Benchmark -1.91 0.09 6.21 26.76 -3.54 1.40 4.97 7.53 N/ADifference -8.75 -5.37 2.12 7.37 -6.46 -4.25 -2.93 -2.14 N/ARLP Global Blend Core Plus (Rathbone Global Alpha) 1.45% 2.20% Active 16.19 -0.67 -1.07 7.67 25.49 -4.80 1.90 4.79 7.92 6.35 31.05.02Composite Benchmark -2.60 -0.43 6.40 27.20 -4.18 1.05 4.69 7.23 6.48Difference 1.93 -0.64 1.27 -1.71 -0.62 0.85 0.10 0.69 -0.13


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GLOBAL EQUITY CONTINUED


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Global Managed Equity Specialist (Invesco Global Equity) 1.60% 1.77% Active 15.76 -1.96 -10.73 8.59 32.97 -7.82 -1.68 3.10 6.97 6.75 29.06.98

Composite Benchmark -3.48 -0.74 6.00 26.83 -4.32 0.52 4.26 6.93 6.23Difference 1.52 -9.99 2.59 6.14 -3.50 -2.20 -1.16 0.04 0.52RLP Global Managed Equity Specialist (Investec Global Strategic Equity) 1.70% 1.79% Active 16.40 0.87 -1.04 11.73 35.75 -10.30 3.70 6.31 9.53 N/A 31.03.06

Composite Benchmark -3.57 -0.84 5.89 26.70 -4.42 0.42 4.16 6.83 N/ADifference 4.44 -0.20 5.84 9.05 -5.88 3.28 2.15 2.70 N/A

EMERGING MARKETS EQUITY


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Emerging Markets ESG Leaders Equity Tracker 1.00% 1.00% Tracker N/A 0.32 N/A N/A N/A N/A N/A N/A N/A N/A 25.06.18MSCI Emerging Markets ESG Leaders Index -0.71 N/A N/A N/A N/A N/A N/A N/A N/ADifference 1.03 N/A N/A N/A N/A N/A N/A N/A N/ARLP/BlackRock Emerging Markets Tracker 1.15% 1.22% Tracker 14.91 -4.03 -1.90 6.68 40.72 -15.57 0.15 3.59 N/A N/A 18.02.13FTSE Custom Emerging Net Midday Index -4.28 -1.18 6.75 40.91 -15.45 0.32 3.76 N/A N/ADifference 0.25 -0.72 -0.07 -0.19 -0.12 -0.17 -0.17 N/A N/ARLP/Columbia Threadneedle Latin America 1.70% 1.90% Active 27.64 -25.82 11.64 -4.52 36.03 -15.83 -7.52 -1.97 -4.12 N/A 29.03.10MSCI Emerging Markets Latin America 10/40 Index -31.48 12.75 -0.68 41.62 -13.40 -8.44 -1.21 -4.11 N/ADifference 5.66 -1.11 -3.84 -5.59 -2.43 0.92 -0.76 -0.01 N/ARLP/Dimensional Emerging Markets Core Equity 1.50% 1.62% Tracker 16.09 -9.30 -5.30 6.56 43.16 -13.12 -2.91 2.62 N/A N/A 06.03.15MSCI Emerging Markets Index -3.61 -4.68 9.37 42.04 -14.62 0.16 4.03 N/A N/ADifference -5.69 -0.62 -2.81 1.12 1.50 -3.07 -1.41 N/A N/ARLP/Fidelity Emerging Europe, Middle East and Africa 1.70% 2.00% Active 24.03 -15.06 0.77 1.48 35.08 -10.94 -4.58 0.88 2.32 N/A 29.03.10MSCI Emerging EMEA NR Index -17.61 2.24 0.77 32.34 -14.10 -5.31 -0.71 -1.28 N/ADifference 2.55 -1.47 0.71 2.74 3.16 0.73 1.59 3.60 N/ARLP/Henderson China Opportunities 1.70% 1.91% Active 17.83 8.39 -13.60 25.15 47.65 -14.88 5.43 8.04 7.90 N/A 29.03.10MSCI Zhong Hua Index 5.69 -11.11 21.00 42.93 -21.93 4.36 4.86 6.26 N/ADifference 2.70 -2.49 4.15 4.72 7.05 1.07 3.18 1.64 N/ARLP/JPMorgan Emerging Europe Equity 1.70% 1.85% Active 19.47 -1.37 13.01 -3.23 35.74 -4.35 2.55 6.96 0.52 N/A 29.03.10MSCI Emerging Markets Europe Index -9.45 11.72 2.30 32.05 -10.32 1.15 4.15 -0.51 N/ADifference 8.08 1.29 -5.53 3.69 5.97 1.40 2.81 1.03 N/ARLP/Jupiter India 1.70% 2.02% Active 23.30 -30.37 -5.19 -9.61 49.78 -0.18 -15.80 -2.25 1.15 N/A 29.03.10MSCI India Index -22.33 11.25 1.75 32.98 -4.66 -4.20 2.19 1.37 N/ADifference -8.04 -16.44 -11.36 16.80 4.48 -11.60 -4.44 -0.22 N/ARLP Emerging Markets Core Plus (JPM Emerging Markets) 1.70% 1.85% Active 15.39 1.63 3.62 8.52 46.51 -8.20 4.55 8.97 4.85 N/A 28.04.08

MSCI Emerging Markets Index -3.81 -4.87 9.15 41.75 -14.79 -0.04 3.82 2.73 N/ADifference 5.44 8.49 -0.63 4.76 6.59 4.59 5.15 2.12 N/ARLP Emerging Markets Specialist (Stewart Investors Global Emerging Markets Leaders) 1.80% 1.87% Active 14.31 -19.30 -4.77 3.25 31.18 -3.21 -7.41 0.15 3.99 N/A 28.04.08

MSCI Emerging Markets Index -3.90 -4.96 9.04 41.61 -14.87 -0.14 3.72 2.63 N/ADifference -15.40 0.19 -5.79 -10.43 11.66 -7.27 -3.57 1.36 N/A

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SPECIALIST


Charge Ratio Style 1 year 1 year 1 year 1 year 1 year DateRLP Absolute Return Government Bond 1.00% 1.00% Active 2.01 0.53 -0.53 -0.53 -0.32 N/A -0.18 N/A N/A N/A 29.06.15Overnight Cash Rate (SONIA) -0.43 -0.34 -0.64 -0.74 N/A -0.47 N/A N/A N/ADifference 0.96 -0.19 0.11 0.42 N/A 0.29 N/A N/A N/ARLP Cash Plus 1.00% 1.00% Active 0.46 0.00 -0.11 -0.42 -0.11 -0.31 -0.18 -0.19 N/A N/A 28.11.11LIBID GBP 7 Days Index -0.44 -0.33 -0.62 -0.71 -0.52 -0.46 -0.52 N/A N/ADifference 0.44 0.22 0.20 0.60 0.21 0.28 0.33 N/A N/ARLP Commodity 1.00% 1.00% Tracker 11.46 -19.17 -6.76 5.40 N/A N/A -7.38 N/A N/A N/A 13.06.16Bloomberg Commodity Total Return Index -16.28 -8.40 6.64 N/A N/A -6.48 N/A N/A N/ADifference -2.89 1.64 -1.24 N/A N/A -0.90 N/A N/A N/ARLP Enhanced Cash Plus 1.00% 1.00% Active 1.05 0.21 0.53 -0.21 N/A N/A 0.17 N/A N/A N/A 13.06.16LIBID GBP 7 Days Index -0.44 -0.33 -0.62 N/A N/A -0.46 N/A N/A N/ADifference 0.65 0.86 0.41 N/A N/A 0.63 N/A N/A N/ARLP Multi Asset Strategies 1.00% 1.00% Active N/A 24.06.19Sterling Overnight Index (SONIA) N/A N/A N/A N/A N/A N/A N/A N/A N/ADifference N/A N/A N/A N/A N/A N/A N/A N/A N/ARLP/BlackRock Gold and General 1.83% 2.00% Active 30.12 59.12 -1.76 -14.50 17.90 18.32 10.14 13.25 -1.05 N/A 26.10.09FTSE Gold Mines Index 64.99 2.07 -8.14 11.43 29.86 15.64 17.47 -2.55 N/ADifference -5.87 -3.83 -6.36 6.47 -11.54 -5.50 -4.22 1.50 N/ARLP/Investec Global Energy 1.70% 1.83% Active 21.18 -20.63 -10.02 8.89 11.24 -17.86 -8.03 -6.60 -4.55 N/A 29.03.10MSCI World/Energy Index -30.24 -11.89 16.10 16.13 -9.44 -10.63 -5.57 -1.10 N/ADifference 9.61 1.87 -7.21 -4.89 -8.42 2.60 -1.03 -3.45 N/ARLP/JPMorgan Global Macro 1.58% 1.73% Active 3.74 2.81 -5.49 4.25 -0.82 0.65 0.43 0.22 1.54 N/A 26.10.09ICE 1M LIBOR GBP -0.93 -0.89 -1.19 -1.24 -1.06 -1.00 -1.06 -1.04 N/ADifference 3.74 -4.60 5.44 0.42 1.71 1.43 1.28 2.58 N/ARLP/JPMorgan Natural Resources 1.70% 1.85% Active 22.62 -9.23 -8.94 20.00 40.41 -18.59 -0.27 2.54 -4.63 N/A 26.10.09Not AvailableDifference N/A N/A N/A N/A N/A N/A N/A -1.92 N/ARLP/Jupiter Financial Opportunities 1.70% 1.96% Active 17.09 6.39 6.60 15.58 24.00 -4.38 9.43 9.21 6.72 N/A 29.03.10MSCI ACWI/Financials -14.79 -0.42 6.96 36.37 -7.89 -3.18 2.65 4.86 N/ADifference 21.18 7.02 8.62 -12.37 3.51 12.61 6.56 1.86 N/ARLP/BNY Mellon Real Return 1.70% 1.82% Active 7.69 0.73 5.77 -3.17 3.90 -0.35 1.04 1.33 2.77 N/A 29.03.10LIBOR GBP 1 Month + 400 Bps Index 2.82 2.94 2.64 2.54 2.74 2.80 2.73 2.77 N/ADifference -2.09 2.83 -5.81 1.36 -3.09 -1.76 -1.40 0.00 N/ARLP/Standard Life Global Absolute Return Strategies 1.70% 1.79% Active 4.23 2.75 -0.20 -3.62 -1.16 -4.17 -0.39 -1.31 N/A N/A 18.02.13LIBOR GBP 6 Months Index -0.92 -0.77 -1.11 -1.15 -0.96 -0.93 -0.98 N/A N/ADifference 3.67 0.57 -2.51 -0.01 -3.21 0.54 -0.33 N/A N/A


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IMPORTANT NOTES Source: Lipper, bid to bid, as at 31.05.2020, Royal London, as at 31.05.2020. Allperformancefigures,includingthefiguresshownforthegrowthinthebenchmarks,havebeencalculatednetoftheFundManagementCharge.The Compound Annual Growth Rate (C.A.G.R.) is a measure of the investment returns, on a given fund, over the specified period. It allows for the impact of compounding of investment returns, which is particularly important where returns vary from one year to the next. Past performance is not a guide to the future. Prices can fall as well as rise meaning you may not get back the value of your original investment. Investment returns may fluctuate and are not guaranteed.

FTSE International Limited (“FTSE”) © FTSE 2020. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. All rights in the FTSE indices and/or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and/or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent.

Total Expense Ratio (TER), covering calendar year 2018. The TER is a measure of the overall cost of a fund to the investor. It includes the Fund Management Charge plus any audit, custodian, registration or compliance fees paid out of the fund’s assets. It does not include the costs of buying and selling securities, which would still be paid if investing directly in securities instead of through an investment fund. TERs are reviewed regularly and may be subject to change.

The performances of the indicated benchmarks have been calculated using prices for the last pricing date previous to that shown (i.e. to compare our fund price movements for the period to 31.05.2020 we have used benchmark prices to 28.05.2020). This calculation allows a more accurate comparison between the fund and its benchmark, due to a one-day delay in the pricing of the external funds in question.

The Fund Volatility figure shown is the annualised standard deviation of the monthly returns on the fund over a three-year time period to 31.05.2020. Standard deviation is a measure of the spread of monthly returns around the average (mean) return. A higher volatility figure indicates that the fund has produced a wider range of returns over the three-year period while a fund with a lower volatility figure has been more stable.

As part of our ongoing review process a change of underlying investment occurred for this fund.

The performances of the indicated benchmarks have been calculated using prices for the last pricing date two days prior to that shown (i.e. to compare our fund price movements for the period to 31.05.2020 we have used benchmark prices to 27.05.2020). This calculation allows a more accurate comparison between the fund and its benchmark, dueto a two-day delay in the pricing of the external funds in question.

Please note this fund was closed to new investors and incremental investments on 07.09.2013.

Tracker funds, also known as passive funds, aim to perform in line with a market index such as the FTSE All Share index. They do this by investing in either all (full replication) or a representation (partial replication) of the index constituents. Tracker funds tend to be low cost as this replication is generally done automatically and does not require the same level of research as active management.

Actively managed funds aim to outperform the market index by employing fund managers and research teams to make tactical decisions on which stocks or sectors to invest in. They tend to have higher charges than tracker funds in line with the extra resource required to run these funds. It should be remembered that a higher charge does not guarantee better returns.

We're happy to provide your documents in a different format, such as Braille, large print or audio, just ask us when you get in touch. All of our printed products are produced on stock which is from FSC® certified forests.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales, company number 99064. Registered office: 55

Gracechurch Street, London, EC3V 0RL. Royal London Marketing Limited is authorised and regulated by the Financial Conduct Authority and introduces Royal London’s customers to other insurance companies. The firm is on the Financial Services Register, registration number 302391. Registered in England and Wales company number 4414137. Registered office: 55 Gracechurch Street, London,

EC3V 0RL.

Royal London 1 Thistle Street, Edinburgh EH2 1DG

royallondon.com

IB June 2020/06June 2020

Download - Pension fund performance June 2020 - Royal London Group · PENSION FUND PERFORMANCE VS. BENCHMARK The following tables show the performance of the Royal London Unit Linked Pension

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