Fund Factsheet

Merian UKEqInc I A£ Fund Information Fund Aim Objective: to achieve income and capital growth. In seeking to achieve its investment objective the Sector fund will aim to deliver an income, net of fees, greater than the yield of the FTSE All-Share Index and IA UK Equity Income a total return (i.e. a combination of income and capital growth), net of fees, greater than the average Manager's Name return of the IA UK Equity Income sector over rolling 3 year periods. The Fund invests primarily (at Ed Meier least 70%) in UK company shares and similar investments. The Fund may use derivatives (i.e. financial contracts whose value is linked to the expected price movements of an underlying Date Manager Appointed investment), with the aim of generating returns (i.e. for investment purposes) and reducing the overall Dec 2016 costs and/or risks of the Fund. The Fund is actively managed. Portfolio construction is driven by Launch Date research into a company's future prospects in the context of the economic environment to identify Dec 2012 attractively priced investment opportunities. The Fund will look to invest in companies that produce regular cash flows through dividends (dividends are the proportion of company profits paid out to Fund Size(£m) shareholders) and with good prospects for growth to deliver positive total returns. The Fund will £44.73 typically invest in the shares of fewer than 55 companies. The IA UK Equity Income sector consists of Yield* (See page2) funds with similar investment objectives and policies to the Fund. The average return of funds in the 2.88 % IA UK Equity Income sector is a point of reference against which the fund’s performance may be measured. Although a large proportion of the Fund’s investments may be components of the Index, XD Dates the Fund has the ability to deviate significantly from the Index. Aug 02, May 04, Feb 01, Nov 02 Sector: IA UK Equity Income Last Distribution 02/08/21 (XD Date) Performance 30/09/21 (Pay Date) % 1.23(Distribution) 35 30 OCF 0.90 % 25 20

15

10

5

0 Morningstar Analyst -5 Rating -10 N/A -15 FE Crown -20 Rating -25

-30 Oct 16 Apr 17 Jul Oct Jan 18 Apr Jul Oct Jan 19 Apr Jul Oct Jan 20 Apr Jul Oct Jan 21 Apr Jul 30/09/2016 - 01/10/2021 Powered by data from FE Merian UKEqInc I A£ IA UK Equity Income

Discrete Performance - 12 months to 31/12/20

2020 2019 2018 2017 2016

Fund -9.03 21.62 -14.19 12.44 6.16

Stock Sector Average -10.73 20.07 -10.54 11.32 8.84

Cumulative Performance to 30/09/21

1 Yr 2 Yrs 3 Yrs 4 Yrs 5 Yrs

Fund 47.18 17.18 15.24 17.42 31.22

Stock Sector Average 32.67 9.80 9.61 13.37 25.38

Performance Analysis - Annualised 3 years

Growth Rate % Volatility Alpha Beta Sharpe

Fund 4.84 22.27 1.56 1.17 0.06

Stock Sector Average 3.12 18.68 0.00 1.00 0.00 Fund Factsheet

Merian UKEqInc I A£

Fund Composition

(%) Financials 18.00 Consumer Discretionary 15.60 Energy 11.20 Utilities 10.60 Industrials 9.00 Basic Materials 8.60 Consumer Staples 8.30 Health Care 6.40 Technology 5.50 Others 6.80

(%) UK Equities 99.00 Money Market 1.00

Largest Holdings

Holdings (%) Holdings (%) DRAX GROUP PLC 5.10 PLC 3.70 ST JAMES PLACE 4.20 GLAXOSMITHKLINE 3.60 DIVERSIFIED ENERGY CO PLC 4.20 PLC 3.20 PLC 4.00 PLC 3.10 BP 3.80 ENTAIN PLC 3.10

* Data supplied by fund managers regarding fixed interests funds may not specify yield type. As the provision of redemption yield is an FCA regulatory requirement Novia assumes these are used.

Important Information Performance details and yields are as at 30/09/2021. Performance figures are inclusive of net reinvested income. Source: FE. This document is designed only for professional investors and experienced advisers. The value of investments and the income gained may fluctuate. Investors may not get back the full amount invested. Past performance is not a guide to the future.

Charts and Table data. Source: FE, as at 30/09/2021