Monthly Fund Factsheet 31 August 2021

FSSA Indian Subcontinent All-Cap Fund Class E USD a subfund of First Sentier Investors ICVC (the Company)

Investment objective and policy Ten Largest Company Holdings The Fund aims to achieve capital growth over the medium to long term (at least Stock Name % three years). The Fund invests at least 70% in shares of companies based in or where the ICICI Bank 8.8 majority of their activities take place in India, Pakistan, Sri Lanka or Bangladesh. Limited 6.0 This includes companies that are listed on exchanges worldwide which provide exposure to India, Pakistan, Sri Lanka or Bangladesh. The Fund will invest in HDFC Bank 5.9 companies of all sizes. The Fund may invest up to 10% in other funds. Limited 5.2 The Fund may use derivatives to reduce risk or to manage the Fund more efficiently. Colgate-Palmolive (India) Limited 4.6 Fund information Mahindra Forgings Ltd 3.5 Fund Launch Date 08 June 2018 Godrej Industries Limited 3.5 Share Class Launch Date 08 June 2018 Limited 3.2 Fund Size (US$m) 15.2 Limited 2.9 UK's Investment Association India Limited 2.9 Specialist Sector Benchmark MSCI India Net Index* Sector Breakdown Number of holdings 41 Consumer Staples 23.2% (9.5%*) Financials 21.2% (26.2%*) Fund Manager(s) Vinay Agarwal/Sreevardhan Agarwal Industrials 10.1% (4.3%*) Minimum Investment US$100,000/US$500 subsequent Information Technology 9.5% (18.2%*) Consumer Discretionary 8.6% (7.5%*) Initial charge 0%< Real Estate 5.6% (0.3%*) Ongoing Charges † 0.74% Health Care 5.5% (5.4%*) Materials 5.5% (10.0%*) Share Type Accumulation Communication Services 3.2% (3.2%*) Utilities 1.7% (4.0%*) Sedol BDG1BR1 Other 0.0% (11.4%*) ISIN GB00BDG1BR12 Cash 5.6% (0.0%*) Research Rating ‡ RSM:Rated *Index Weight Fund Yield 0.5% Country Breakdown * The benchmark for this Fund has been identified as a means by which investors can compare the performance of the Fund and has been chosen because its constituents most closely India 92.1% (100.0%*) represent the scope of the investable assets. The benchmark is not used to limit or constrain Pakistan 1.3% (0.0%*) how the portfolio is constructed nor is it part of a target set for Fund performance. Given Bangladesh 1.0% (0.0%*) the diverse nature of the constituent funds within the Specialist IA sector the manager does Cash 5.6% (0.0%*) not compare performance of this Fund with its IA sector. Annual Performance (% in USD) to 31 August 2021 12mths 12mths 12mths 12mths 12mths to to to to to 31/08/21 31/08/20 31/08/19 31/08/18 31/08/17 Fund return 43.1 4.1 -9.6 - - Benchmark return 53.1 3.0 -7.6 - - *Index Weight Cumulative Performance (% in USD) to 31 August 2021 Since Sector and Country classifications provided by FactSet and First Sentier Period 3mths 6mths 1yr 3yrs 5yrs 10yrs Inception Investors. The Fund may hold multiple equity securities in the same company, which have been combined to provide the Fund's total Fund return 10.1 18.0 43.1 34.6 - - 32.7 position in that company. Index weights, if any, typically include only Benchmark return 11.1 22.3 53.1 45.7 - - 53.9 the main domestic-listed security. The above Fund weightings may or may not include reference to multiple securities. These figures refer to the past. Past performance is not a reliable All performance data for the FSSA Indian Subcontinent All-Cap Fund Class E indicator of future results. For investors based in countries with (Accumulation) USD as at 31 August 2021. Source for fund - Lipper IM / First currencies other than USD, the return may increase or decrease as a Sentier Investors (UK) Funds Limited. Performance data is calculated on a net basis result of currency fluctuations. by deducting fees incurred at fund level (e.g. the management fee and other fund expenses), save that it does not take account of initial charges or switching fees (if any). Income reinvested is included on a net of tax basis. Source for benchmark - MSCI, income reinvested net of tax. Since inception performance figures have been calculated from 08 June 2018.

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Monthly Fund Factsheet 31 August 2021

FSSA Indian Subcontinent All-Cap Fund Class E USD

a subfund of First Sentier Investors ICVC (the Company) Risk and Reward Profile ◄ Lower Risk Higher Risk ► Potentially Lower Rewards Potentially Higher Rewards

1 2 3 4 5 6 7

The synthetic risk reward indicator (the SRRI) rating is not a measure of the risk The Fund may also experience the following risks: of you losing your investment but describes how much the value of the Fund Currency risk: The Fund invests in assets which are denominated in other went up and down in the past. currencies; changes in exchange rates will affect the value of the Fund and could The SRRI rating is based on historical data which may not be a reliable indication create losses. Currency control decisions made by governments could affect the of the future risks and rewards of the Fund. We cannot guarantee that the value of the Fund's investments and could cause the Fund to defer or suspend rating of the Fund will remain the same: it may change over time. redemptions of its shares. Even the lowest rating 1 does not mean a risk free investment. Indian subcontinent risk: although India has seen rapid economic and structural On a scale of 1 (less risky) to 7 (more risky), this Fund has a rating of 6 due to its development, investing there may still involve increased risks of political and past performance and the nature of its investments. Shares with a rating of 6 governmental intervention, potentially limitations on the allocation of the Fund's might have a higher risk, but also higher returns. Risk is taken in order to make a capital, and legal, regulatory, economic and other risks including greater liquidity higher potential return; the more risk a fund takes, the higher the potential risk, restrictions on investment or transfer of assets, failed/delayed settlement and return but the greater the risk of loss. difficulties valuing securities. The value of investments and any income from them may go down as well as up Single country / specific region risk: investing in a single country or specific region and is not guaranteed. Investors may get back significantly less than the original may be riskier than investing in a number of different countries or regions. amount invested. Investing in a larger number of countries or regions helps spread risk. Smaller companies risk: investments in smaller companies may be riskier and more difficult to buy and sell than investments in larger companies. For further information on risks, please refer to the Risk Factors section in the Company prospectus. Investment should be made on the basis of the Prospectus and Key Investor Information Document. If you are in any doubt as to the suitability of any of our funds for your investment needs, please seek independent financial advice. For further information Client Services Team (UK): 0800 587 4141 Client Services Team (Overseas): +44 131 525 8870 Email: [email protected] Website: www.firstsentierinvestors.com Dealing Line: 0203 528 4102

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