Schroders Investment Trust 2019/2020 Application Forms

Note to Investors: Note to Intermediary: Before you invest, please read the Key Schroders is relying on you accurately and Information Document(s) and Key Features truthfully determining whether you have Document provided to you. provided advice or not. If you become aware These documents are current at the time of that you have ticked the non-advised box in provision. Updates are made annually and may error, please notify us of this fact immediately be subject to further change from time to time, so that we can ensure that we do not pay you so delaying your application could lead to you any commission. making your investment decision based on out of date information.

How to Invest Investment Trust

ISA Investors Checklist If you have any ISAs for 2019/2020: Application Form 1 1 You must read the Key Information queries about ISA Transfers: Application Form 2 Document(s) and Key Features Document provided before completing filling out your ISA Investors please remember: this application form. ȂȂ You can only take out one stocks and 2 Please complete application forms in shares ISA in any one tax year. application form, BLOCK CAPITALS using a BLACK ball ȂȂ Please ensure we have your full name, point pen. address, date of birth and National please contact your 3 Make sure you have filled in all the Insurance Number as without these we required details for each section. financial adviser or cannot open an ISA for you. (If you have never had a National Insurance Number 4 If you are investing a lump sum, make please indicate this on the form.) sure you have signed your cheque, Schroders’ investor which should be made payable to ȂȂ For your benefit and protection Schroder Unit Trusts Limited ISA. services team on please read the enclosed ISA terms and conditions before completing 5 If you are using a bank or building the application form as these are society cheque, please ask them to print 0800 718 777 Schroders standard ISA terms and on your cheque the account name of conditions upon which we intend the person from whose account the For your security, communications to rely. If you do not understand payment is being made. may be taped or monitored any point please ask for further 6 If you are investing by Direct Debit information. please ensure we have your full bank details and that you have signed the instruction. Please retain the Direct Debit Guarantee, found on the back page of this booklet, for your records. 7 Please make sure you have signed the declaration in Section 2. 8 Return the application form in the pre-paid envelope provided or address it to: Schroders, Investor Services Department, FREEPOST, RLTZ-CHSY- HBUT, PO BOX 1102, CHELMSFORD CM99 2XX.

NOTE Statements will be sent twice a year as at 5 April and 5 October (N.B. You will receive these within 25 business days of these dates)

Schroders Investment Trust ISA 1 ‘Key Features Document’ has the ‘Units’ – units in a unit trust of which meaning given by the FCA Rules. a Schroders Company is the manager ‘Key Investor Information Document’ specified from time to time by Schroders (KIID) or ‘Key Information Document’ as available for inclusion in a Schroders (KID) – a document that provides ISA so long as the securities of which are Terms and information about a specific fund. It is permitted by the Treasury Regulations to required by law to help you understand be held in an ISA. the nature and the risks of investing in ‘US Person’ – any person defined as a Conditions that fund. US person under Regulation S of the ‘MiFID’ means the European Parliament United States Securities Act 1933. Unit Trust, OEIC and Council Directive on markets in ‘Year’ – a year beginning on 6 April in financial instruments (No. 2014/65/EU) any year and ending on 5 April in the and Investment and the Markets in Financial Instruments following year. Regulation (Regulation 600/2014) and any References to any statutory provision or to associated delegated or implementing regulations made there under include any Trust ISA legislation, technical standards and modification or re-enactment thereof. guidelines, as amended from time to time. Investments ‘OEIC’ – an open-ended collective investment scheme formed as a 2. Introduction corporation under the Open-Ended Reference guide to Investment Company Regulations 2001 (a) Schroder Unit Trusts Limited is in the United Kingdom. authorised and regulated by the Financial Terms and Conditions ‘Schroders’ – Schroder Unit Trusts Limited Conduct Authority and is entered on the as the ISA Manager. FCA register under register number 197288 Section 5 – Explanation of cancellation to act as ISA Manager. All communications ‘Schroders Company’ – any holding rights passing between you and Schroders must company of the ISA Manager or subsidiary be in English. Section 6 – How income reinvestments of any such holding company. and distributions are made (b) The Schroders ISA will, subject to ‘Schroders ISA’ – an Individual Savings the Treasury Regulations, be managed Section 7 – How the purchase of Units or Account (ISA) operated in accordance with by Schroders in accordance with your Shares is determined these Terms and Conditions representing directions as set out in the application form. Section 10 – The issue of valuations, subscriptions made by you over one reports and accounts or more Years whether or not such These are Schroders’ standard ISA Section 18 – An explanation of how the ISA subscriptions are made in consecutive Terms and Conditions upon which we may be transferred to another manager Years. A Schroders ISA will be made up intend to rely. For your own benefit entirely of stocks and shares (for the and protection you should read these Section 19 – How Schroders can terminate purpose of the Treasury Regulations) to carefully before investing in a Schroders the ISA be invested in Units of the Unit Trust(s) ISA. If you do not understand any point Section 26 – How complaints and queries or Shares in Investment Trusts or OEICs please ask for further information. are dealt with and further details of selected by you. Your Schroders ISA will be compensation arrangements designated as a Stocks and Shares ISA. 3. Applications to Open a ‘Shares’ (Investment Trust) – shares in 1. Definitions an investment trust of which a Schroders Schroders ISA Company is the manager specified from time to time by Schroders as available for or – an individual (a) In order to open a new ISA with ‘Account Investor’ ‘you’ inclusion in a Schroders ISA so long as the who subscribes to a Schroders ISA or the Schroders, you must submit to Schroders a securities of which are permitted by the applicant for a Schroders ISA. properly completed and signed application Treasury Regulations to be held in an ISA. form together with a cheque or banker’s ‘ACD’ – an Authorised Corporate Director is ‘Shares’ (OEIC) – a share in an OEIC draft or a direct debit instruction to your an FCA authorised firm that is responsible represents an equal fraction of the bank or building society, for the amount for dealing with the day-to-day operation OEIC’s assets. specified on the application form. of an OEIC, managing the OEIC’s investments, buying and selling the OEIC’s ‘Supplementary Information Document’ (b) You may also apply to transfer an shares on demand, and ensuring accurate (SID) – a document that provides existing ISA to Schroders. The ISA to be pricing of shares at net asset value. information about dealing in the relevant transferred must be converted to hold only funds, the associated tax implications, cash at the point of transfer but can only has the ‘Authorised Fund Manager’ the right to complain, the right to cancel be invested in stocks and shares ISA on meaning given by the FCA Rules. (where applicable) and further details on transfer. The minimum transfer value for ‘Business Day’ – any day on which the range of funds available. transfers into a Schroders ISA is £1,000. the London Stock Exchange is open ‘Terms and Conditions’ – these terms and (c) If you subscribe by cheque or banker’s for business. conditions together with the application draft your Schroders ISA will (subject to ‘FCA’ – the Financial Conduct Authority. form for a Schroders ISA. (a) above and (d) below) come into force ‘FCA Rules’ means the rules made by ‘Treasury Regulations’ – the Individual on the day of its receipt by Schroders if the FCA under the Financial Services and Savings Account Regulations 1998 as it is received before the valuation point Markets Act 2000. amended from time to time. or dealing period set by Schroders, or otherwise on the following Business ‘Investment Trust’ – an investment trust ‘Unit Trust’ – an authorised unit trust Day. If you subscribe by direct debit your of which a Schroders Company is the scheme of which a Schroders Company is Schroders ISA will come into force on the investment manager and/or Secretary the manager and which is specified from day Schroders draws on your direct debit and which is specified from time to time time to time by Schroders as available for mandate. Direct debit subscriptions to by Schroders as available for inclusion in inclusion in a Schroders ISA so long as a Schroders ISA will be collected on or a Schroders ISA so long as the securities such units are permitted by the Treasury around the 10th of each month. of which are permitted by the Treasury Regulations to be held in an ISA. Regulations to be held in an ISA.

2 Schroders Investment Trust ISA (d) Schroders reserves the right at its or Shares on your behalf but is unable registered unitholder/shareholder. Please absolute discretion to reject any application to establish your correct banking details, note that we may require your signature (including transfer applications). Schroders will issue a cheque. If you hold and may request bank verification (e) All applications to open a Schroders ISA accumulation Units or Shares in your documents prior to payment. in respect of a Year must be received by Schroders ISA, the increased price of such Schroders no later than the last day of the Units or Shares will reflect the income 8. Best Execution relevant Year on which Schroders is open accumulated and no additional Units or for business. Shares will be purchased. Any income tax repayments will be reinvested in the When executing orders on your behalf in (f) There is no minimum duration to your purchase of additional accumulation Units relation to financial instruments (as defined agreement with Schroders. or Shares. by MiFID) we will take all reasonable steps Investment Trusts to achieve what is called ‘best execution’ of your orders. Our policy and procedures 4. Appropriateness If you are a lump sum Investment Trust therefore are designed to obtain the best investor who has requested that your possible result for your orders subject to income is reinvested, then if you are a In certain circumstances, firms providing and taking into account what category of regular saver, or if you apply to open investment services and products are client you are (under the FCA Rules), the a Schroders ISA and do not specify a required to assess the appropriateness of financial instruments concerned, the nature bank or building society account on your the investment services or products they of your orders, the nature of the markets application form, Schroders will purchase provide. This requirement does not apply and any specific instructions from you. where, as in this case, the service only additional Shares with this income. Income consists of execution and/or the reception arising in respect of Investment Trust As the ISA Manager is also the Authorised of client orders, relates to particular Shares will be paid out depending on the Fund Manager it will deal directly when non-complex financial instruments, and distribution frequency of the relevant buying or selling Units in the Schroder is provided at the initiative of the client. Investment Trust. authorised Unit Trusts and when buying or selling Shares in the Investment Trusts Accordingly, clients should note that they In accordance with the Treasury or the OEICs. Units and OEIC Shares will do not benefit from the protection of the Regulations, Schroders will make all be bought and sold daily on a forward rules on assessing appropriateness and necessary claims for relief from tax relating pricing basis and prices will be calculated should therefore ensure that they seek to Units or Shares held in your Schroders by reference to the value of the property independent financial advice if unsure ISA. Lump sum and regular savings of the relevant fund at the next valuation about whether a product is appropriate. investments will be invested on the basis of point as per the Prospectus for the the relevant Unit or Share price calculated Schroder authorised Unit Trusts/OEICs. at the next valuation point following 5. Cancellation Investment Trust Shares will be bought receipt of monies (see Section 7 below and sold during a set dealing period on the for further details). The reinvestment next Business Day, if received by Schroders If you have received advice from a or distribution of income is subject to after a set cut-off point. Customer orders financial adviser with regard to investing Schroders’ right to deduct from any such for the purchase or sale of Units in Unit in a Schroders ISA, you may cancel your income any sums due to it under these Trusts will be executed directly via the application on or before the 14th day after Terms and Conditions. you receive from Schroders a notice of relevant Authorised Fund Manager, or by your cancellation rights. If you exercise a third party on our behalf via the relevant your right to cancel your Schroders ISA any 7. Dealing in Investments Authorised Fund Manager. Customer amounts paid by you will be reimbursed, orders for the purchase or sale of OEIC subject to a deduction of the amount (if Shares will be executed directly via the The property of each Unit Trust, OEIC or relevant ACD, or by a third party on our any) by which the value of the investment Investment Trust will normally be valued has fallen between: behalf via the relevant ACD. As such, these on each Business Day at the valuation orders will not be executed on a regulated (i) the time the cancellation notice is point. The ISA Manager will place orders market or on a multilateral trading received by Schroders; and within one Business Day of receipt of facility. By applying for this Schroders (ii) the date on which the investment was instructions by Schroders via a completed ISA, you consent to such orders being made. application form or by telephone. Dealing executed outside of a regulated market will be carried out during a set dealing If you have not received advice from an and multilateral trading facility. Customer period on the next Business Day, if it is orders for the purchase or sale of Shares in authorised financial adviser you, will not received by Schroders after a set cut-off qualify for cancellation rights. Investment Trusts will be executed on the point. Details of valuation and cut-off London Stock Exchange points in respect of Unit Trusts, OEICs 6. Income Reinvestment and Investment Trusts are available The predominant factors in determining from Schroders. this policy are the price, and the quality, and Distribution consistency and speed of service that can Notwithstanding the above, the ISA be provided in relation to the nature of the Manager may choose to revalue a Unit investment. Where you provide us with a Unit Trusts & OEICs Trust’s or OEIC’s property at any time, specific instruction in relation to your entire If you are a lump sum investor who has although this is likely to occur only where order, or any particular aspect of your order, requested that your income is paid to there is a significant change in the value including selecting to execute on a particular you, Schroders will purchase income of the property held by the Unit Trust or venue, we will execute that order in Units or Shares for your Schroders ISA. If OEIC. Units or Shares dealt in on each accordance with your instructions. As such, you elected to receive income from your Business Day. Where you wish to redeem this may, prevent us from following some or Schroders ISA, then income (including any Units or Shares the value of £50,000 or all of the steps in our policy or procedures income tax repayments received) will be more, the manager may elect to deal at the that are designed to obtain the best possible paid into your bank or building society cancellation price. In respect of switches, result for the execution of your orders. account by direct credit. Income arising in see Section 11 below. A cheque for the respect of income Units or Shares will be proceeds of the Units or Shares sold will be paid out monthly, quarterly or half yearly issued to you on or by the close of business depending on the distribution frequency on the fourth business day after the sale. of the relevant Unit Trust or OEIC. If Upon request, proceeds can be issued Schroders has purchased income Units directly to a bank account held by the

Schroders Investment Trust ISA 3 9. Customer Investment Trusts will be held in the name Any such balances will cease to be client of JP Morgan Chase Bank as nominee. money under the client money rules at the Categorisation You hereby authorise Schroders to issue point they are so paid away. Schroders will appropriate instructions to any nominee make and retain records of all balances In accordance with the FCA Rules, we in discharge of Schroders’ responsibilities so paid away in order to address any are required to categorise each of our under the Terms and Conditions. claims made subsequently in respect of customers. We have categorised you and (b) Investments held in the name of amounts in excess of £25 for a retail client will treat you as a retail client unless we a nominee will be held on trust. and amounts in excess of £100 for a client agree otherwise. If we have previously Therefore, investments will continue other than a retail client. Under the client categorised you as a professional client or to belong to you in the event of the money rules Schroders is not required to eligible counterparty, then we will continue nominee becoming insolvent. and so will not address any claims made to treat you in accordance with that subsequently in respect of amounts (c) Investments held by a nominee will be beneath these thresholds. previous categorisation, though you may held in an omnibus account. This means request that we re-categorise you as that individual investments may not be (i) In the event of insolvency, Schroders a retail client. identifiable via separate certificates or will have a claim against the authorised other proof of title. However, Schroders institution on behalf of its clients. However, 10. Valuations, Reports will keep appropriate records in order to any shortfall in meeting the claim may identify individual holdings. In the event of have to be shared pro rata between clients. and Accounts a default, any shortfall in the investments (j) In certain circumstances, Schroders registered in the name of the nominee has the right to deduct any sums due to it (a) You will be sent a valuation as at 5 April may be shared pro rata by all the investors under these Terms and Conditions from and 5 October in each year together with whose investments are so registered. your investment. The reinvestment or a transaction statement for the preceding Schroders will be responsible for the acts distribution of income described in Section six month period. Schroders may at its and omissions of any nominee it uses 6 is subject to Schroders’ right to deduct discretion provide additional valuations for the purposes of these Terms and from any such income any sums due to and transaction statements. Confirmation Conditions in accordance with Section 19. it under these Terms and Conditions. of your investment will be sent to you (d) No individual certificates for Units or Upon termination of the Schroders ISA immediately following each lump sum Shares will be issued to you. This will not in accordance with Section 19, Schroders transaction, but will not be issued in affect your beneficial ownership of the may deduct from the amount of any respect of regular savings investments. Units or Shares held in your Schroders payment any sums due to it pursuant to these Terms and Conditions (except where (b) Long form copies of the report and ISA. However, you may not dispose of or transfer any interest in such Units or the Schroders ISA is being transferred to accounts are available on request from another ISA manager). Schroders may also the ISA Manager. Shares nor create (or have outstanding) any charge or security on or over any such determine and deduct a sum representing (c) Schroders will make available all report Units or Shares. any of your tax liabilities or those of your and accounts of the Investment Trusts personal representative(s) in connection in respect of which Investment Trust (e) Units or Shares in your Schroders ISA with the Schroders ISA for which Schroders Shares are held in your Schroders ISA in may not be lent or charged by Schroders is, or may be, or becomes accountable. circumstances where such documentation to any third party and no borrowing will be Schroders may sell Units or Shares held in is available either in hard or electronic copy. made by Schroders against the security of the Schroders ISA if it considers it necessary any such Units or Shares. to do so in order to pay any such sums. (f) Cash credited to a client money account 11. Switches will be segregated from Schroders’ own money and will be held on trust by the 13. Money Laundering You may switch Units, or OEIC Shares authorised institution. Schroders will not in one Unit Trust, or OEIC held in your be responsible for any acts or omissions of The Money Laundering, Terrorist Financing Schroders ISA for those in another by the authorised institution. Interest will not and Transfer of Funds Regulations completing an Investment Amendment be paid in respect of any cash arising from 2017 (as amended from time to time) form. Please contact us if you wish to investments in Units or Shares. require us to make checks on various switch to or from an Investment Trust ISA. (g) All cash received in your Schroders ISA transactions. Independent documentary Switches may be made on preferential will, pending investment, be credited to verification may be required for both the terms at Schroders’ discretion, but they a general client money bank account. All identity and permanent address of the will not affect the annual subscription limit cash payable to you in settlement of Unit/ applicant opening an account. This may for your Schroders ISA. Units and OEIC Share redemptions in your Schroders ISA also apply to existing account holders. Shares shall be acquired on the same will be paid to you from a general client Processing of your instruction, any further Business Day on which Units and OEIC money bank account. Client money bank instructions or payment due to you may Shares are sold. Investment Trust Shares accounts will be maintained by Schroders be delayed pending receipt of satisfactory shall be acquired on the next Business Day with an authorised institution as defined in evidence. Signing of the application form following the day on which Investment the FCA Rules. represents permission from you to make any necessary electronic searches of the Trust Shares are sold. (h) In respect of any client money balances electoral roll and credit reference agencies. that Schroders holds for you which These agencies may keep a record of our remains uncashed or unclaimed, Schroders 12. Registration, Client enquiry. Where you are investing money may pay away this client money to a using a building society branch cheque or Money and Beneficial registered charity of its choice, provided: banker’s draft, please arrange for them Ownership (1) Schroders has held the balance for at to certify, on the cheque, the name and least six years following the last movement account number of the client from whose on your account (disregarding any account payment is being drawn, together (a) Units and Shares in your Schroders payment or receipt of interest, charges or with the branch stamp. Third party ISA shall be held, and must remain, in similar items); and cheques will not be accepted. your beneficial ownership. Units and Shares in OEICs will be registered jointly (2) Schroders has taken reasonable steps in your and Schroders’ names. Shares in to trace and to return the balance to you.

4 Schroders Investment Trust ISA 14. Beneficial Owners 16. Charges each Unit Trust, OEIC and/or Investment Trust according to the relative value of your holding of each Unit Trust, OEIC and/or Under UK legislation to prevent money (a) Without prejudice to Section 21, Investment Trust at the time of the transfer. laundering, the manager/Authorised Schroders shall be entitled to charge Corporate Director of the Unit Trust/ for its services at the rates set out in the (b) Where your Schroders ISA is OEIC is required to verify the identities of Key Investor Information Document or transferred pursuant to an instruction investors. In the case of corporate bodies, Key Information Document and/or Key under paragraph (a) above, Schroders will trusts and other legal arrangements, it Features Document issued by Schroders or transfer the net proceeds of sale of the is also required to establish the identity its representatives which is current at the Units or Shares and other relevant rights of any trustees or other controllers (who date you apply for your Schroders ISA. directly to the new ISA manager. The transfer shall be effected on receipt of your have greater than 25% control of the body (b) Out of these charges Schroders, where corporate or property of the trust) that are written instruction (subject to a minimum relevant, pays commission to financial of 30 days). not named on the application. In addition, advisers. Rates are available on request. it is also required to establish the identity Schroders may make payments to certain (c) Where an investment made by your of any individuals who have a specified third party organisations that provide Schroders ISA can no longer be held within beneficial interest in the Units or Shares. services to advisers. These services are your Schroders ISA, Schroders will contact The applicant retains legal title to the Units designed to enhance the quality of service you to explain what has happened and to or Shares and instructions will only be to clients and the payments are made from set out the relevant options open to you. accepted from the applicant. The beneficial our charges. If within a reasonable period of time (as owner details are required for money notified to you by Schroders) you do not laundering purposes only. For companies, (c) Schroders receives an annual inform Schroders of the action you wish to the beneficial owners that must be listed management fee payable by the relevant take, Schroders may: are any shareholders or other individuals Unit Trust, OEIC or Investment Trust. Details of this fee are available on request (i) transfer the relevant investment to that ultimately own or control more than another ISA plan manager through a 25% of the voting rights or are entitled to and further described in the Key Investor Information Document or Key Information bulk transfer pursuant to the Treasury more than 25% of the company’s profits. Regulations; or Note that they may not necessarily be Document and/or Key Features Document. (ii) redeem that investment and invest the the actual shareholders in the company. proceeds in another investment that can Directors of a company do not need to be 17. Withdrawals be held within your Schroders ISA, listed unless they fall within this definition. For trusts and other similar arrangements, provided that in making this decision the beneficial owners are individuals (a) You may make a cash withdrawal from Schroders is acting in your best interests. nominated to benefit from more than your Schroders ISA at any time by written 25% of the trust property, as well as any request, by telephone or by signed faxed 19. Termination trustees that exercise control. instruction. In respect of both Units and Shares the value of such withdrawal shall be no less than £250. (a) Your Schroders ISA may be terminated 15. Voting Rights, (b) A cash withdrawal will be met by selling with immediate effect by Schroders Meetings and Additional Units or Shares. If you request a cash giving you written notice of termination withdrawal Schroders may at its discretion if it becomes impossible, impractical or Information determine which Units or Shares to sell in unreasonable for Schroders to comply with order to meet your request. the Treasury Regulations or to continue (a) Schroders may attend meetings of to act as manager of your Schroders ISA, unit/shareholders and, if so instructed by 18. Transfers including in relation to any Unit Trust, you, may exercise voting rights in respect OEIC or Investment Trust in which you of Units/OEIC shares held in have invested where the value of your your Schroders ISA. (a) You may at any time instruct Schroders investment is below £50. Without prejudice in writing to transfer all of your current to this, Schroders will give you written (b) Schroders will, in respect of Investment Year’s Schroders ISA, or part or all of your notice of termination if your Schroders Trust ISAs, refrain from exercising any Schroders ISA from previous Years to ISA has or will become void through non- voting rights attaching to the Shares held another ISA manager who: compliance with the Treasury Regulations in your Schroders ISA. You may on written (which shall be treated as termination for (i) fulfils the conditions in the notice to Schroders, elect in respect of the purposes of the Terms and Conditions). your Investment Trust Shares held in Treasury Regulations; (b) A Schroders ISA shall terminate your Schroders ISA to attend meetings (ii) is approved by HM Revenue and automatically on your death. However, of shareholders, exercise voting rights Customs to act as an ISA manager; and Schroders’ authority will not be affected by and receive in addition to the documents (iii) who agrees to accept the transfer. referred to in Section 10(c), any additional your death and accordingly these Terms and information issued to the shareholders If you wish to transfer part of your Conditions shall be binding on your personal until the election is withdrawn by written Schroders ISA, the value of the part representative(s). Subject to such formalities notice to Schroders. remaining must be at least the same as the as Schroders may specify, Schroders shall sum of your contributions over the current pay the net proceeds of sale of all Units or (c) You may, on giving written notice to tax year and must also be at least £1,000. Shares in your Schroders ISA to (or to the Schroders, elect in respect of Units or Subject to such a minimum value, where order of) your personal representatives. Shares held in your Schroders ISA to attend you request a transfer of part of your (c) Termination in accordance with this meetings of unitholders or shareholders, Schroders ISA and it includes more than to exercise voting rights and to receive Section 19 shall be without prejudice to the one Unit Trust, OEIC or Investment Trust, completion of transactions already initiated. in addition to the documents referred to unless we are instructed otherwise, we (d) Schroders will give you reasonable in Section 10 any additional information will sell the Units from the Unit Trusts, the written notice of its intention to cease to issued to unitholders or shareholders until Shares from the OEICs and/or the Shares act as an ISA manager. If after Schroders the election is withdrawn by written notice from Investment Trusts you hold in your has given you such notice you fail to give a to Schroders. Schroders ISA split proportionately across direction under Section 18(a) above, your

Schroders Investment Trust ISA 5 Schroders ISA will terminate and Schroders 21. Liability 24. Delegation, will transfer to you all Units or Shares held in your Schroders ISA. Assignment and Transfer Schroders only accepts liability for (e) Where your Schroders ISA terminates any negligence, wilful default or fraud pursuant to paragraph (a) above, committed by it, or any other Schroders (a) Your Schroders ISA may not be Schroders will sell all the Units or Shares Company or their respective employees transferred by you to another party. held in your Schroders ISA and will pay you and for any breach of these Terms and (b) Subject to any required HM Revenue the net proceeds of such sale. Conditions, save for: and Customs approvals and the provision (f) Notwithstanding the above, Schroders (a) any loss or damage suffered as a result of reasonable written notice to you. may deduct from the amount of any of circumstances which are beyond its Schroders may assign or transfer any payment, any sums due to Schroders reasonable control or that of any other rights and obligations under these Terms pursuant to these Terms and Conditions Schroders Company; or and Conditions, in whole or in part to any (except where the Schroders ISA is being subsidiary of Schroders plc or ultimate transferred to another ISA manager). (b) any loss of opportunity whereby the holding company of Schroders plc (if any) Schroders may also determine and value of the Schroders ISA could have that is authorised and regulated by the FCA. been increased or for any decline in value deduct a sum representing any of your In relation to any such transfer, we tax liabilities or those of your personal of the Schroders ISA (other than due to the negligence, wilful default or fraud may transfer your client money or your representative(s) in connection with designated investments (as both are the Schroders ISA for which Schroders of Schroders or of any other Schroders Company or their respective employees). defined in the FCA Rules) to any subsidiary is, or may be, or becomes accountable. of Schroders plc or ultimate holding Schroders may sell Units or Shares held in No warranty is given by Schroders as to the performance or profitability of any of the company of Schroders plc (if any). Any the Schroders ISA if it considers it necessary sums of client money or any designated to do so in order to pay any such sums. Units or Shares in the Schroders ISA. For the purposes of this Section 21, references investments transferred will be on terms (g) Following termination of your Schroders to Schroders shall be deemed to include which require the return of such relevant ISA a closing statement will be prepared references to Schroders nominees. asset to you as soon as reasonably and forwarded to you. Schroders will make practical upon your request. Any such no direct charge for the termination of assets transferred will be held by the your Schroders ISA. 22. Indemnity receiving party in accordance with the (h) Following termination of your Schroders relevant rules applicable to client money or designated investments or other adequate ISA, Schroders may continue to receive You and your personal representative(s) measures will be applied to protect income in respect of the Units or Shares shall indemnify Schroders and any such assets. In the event that your client held in your Schroders ISA prior to its other Schroders Company against all money is transferred to any subsidiary of termination. Where this occurs we will proceedings, actions, costs, claims Schroders Plc or ultimate holding company send you all payments in excess of £1 at or demands and any other liabilities of Schroders plc (if any), as part of any such a later date to cover this income. If the whatsoever (including any demands or transfer, we will notify you at the address amount is less than £1 the proceeds will be claims by HM Revenue and Customs) held on our register no later than seven paid to charity. incurred by Schroders in connection with days after the transfer: (i) These Terms and Conditions shall your Schroders ISA, unless the same arise continue to be enforceable between by virtue of negligence, 1) whether the relevant assets will continue to be held in accordance with the client you and Schroders unless and until wilful default, fraud or breach of the FCA money rules and, if not, how the assets will HM Revenue and Customs treats your Rules or these Terms and Conditions be held; Schroders ISA as void under the Treasury by Schroders or by any other Schroders Regulations at which time your Schroders Company or their respective employees. 2) the extent to which the assets ISA will terminate automatically. transferred will be protected under a 23. Conflicts of Interest compensation scheme; and 20. Information for 3) that you may opt to have your transferred asset(s) returned to you as Schroders A conflict of interest is where a firm has soon as practicable upon your request. competing obligations or interests that (c) Schroders may employ agents to advise would make it difficult to fulfil its duties You will immediately inform Schroders in on or perform any of its obligations under fairly, for example where the firm is likely writing of any changes in the information these Terms and Conditions provided it is to make a financial gain or avoid a financial provided by you on the application satisfied that such agents are competent to loss at the expense of the client. Under form. Schroders is authorised by you advise on or perform those obligations. the MiFID provisions we are required to to disclose any information relating have Conflicts of Interest policies and to your Schroders ISA to HM Revenue procedures. Schroders is primarily an and Customs, the FCA and as otherwise asset management business and we are required by law or regulations. not presented with the major potential conflicts faced by investment banking groups. However, we have policies and procedures in place to identify and either avoid, manage or disclose conflicts of interest in our business appropriately.

6 Schroders Investment Trust ISA 25. Amendment 28. Law and Regulation

Schroders may vary any of these Terms These Terms and Conditions are based on and Conditions to reflect changes in Schroders’ understanding of current law law or regulation or any changes in and the Treasury Regulations and may the scope and nature of the services be subject to change in the future. Your Schroders provides under these Terms Schroders ISA will be governed by and and Conditions (provided that no variation construed in accordance with English law. shall be made which results in the These Terms and Conditions are, and all Schroders ISA ceasing to qualify under future communications will be, in English. the Treasury Regulations) but will not do The English courts have jurisdiction in so without giving you at least 14 days’ respect of any claim between you and prior written notice. Schroders may Schroders. from time to time make non- material alterations to the Terms and Conditions, for example, to clarify any ambiguities, 29. How we use of which you will not be notified. your information However, you can view the most up to date version of the Terms and Conditions on Schroders’ website. For the purposes of the General Data Protection Regulation 2016/679, the data controller in relation to any personal data 26. Complaints and you supply is Schroders. Information you Compensation supply may be processed for the purposes of investment administration by any Schroders Company to another Schroders Any complaints that you may have should Company, by third parties who provide be addressed to the Head of Investor services to Schroders Companies and by Services. If Schroders fails to resolve your your financial adviser, and such processing complaint satisfactorily you have the may include the transfer of data out of right to refer the complaint directly to the the European Economic Area. You hereby Financial Ombudsman Service, Exchange consent to the processing of your personal Tower, London E14 9SR (website: www. data by Schroders and the persons listed financial-ombudsman.org.uk). above for such purposes. We will not In the event of Schroders being unable keep your information for longer than is to meet its liabilities, you may be entitled necessary and will take steps to ensure that to compensation under the Financial it is kept up to date. We are required by law Services Compensation Scheme. Currently, to make available to you a privacy policy the maximum level of compensation you which details how we collect, use, disclose, can receive from the Scheme for a claim transfer, and store your information. For against an investment firm is 100% of an electronic copy of this privacy policy the first £50,000 per person. For further please go to www.schroders.com/en/ information on the Scheme, you can privacy-policy, or to request a paper copy contact the Financial Conduct Authority please telephone us on 0800 718 777 or or the Financial Services Compensation write to us at Schroders, Investor Services Scheme or visit www.fscs.org.uk. Department, FREEPOST, RLTZ-CHSY-HBUT, PO BOX 1102, Chelmsford, CM99 2XX. You have a right under the General Data 27. Notices or Requests Protection Regulation 2016/679 to ask what information we hold about you. You can do Notices or requests made by you to this by writing to us at the details above. Schroders shall be in writing and shall be acknowledged by Schroders either verbally or in writing.

Schroders Investment Trust ISA 7 8 Schroders Investment Trust ISA Schroders Investment Trust ISA 2019/2020 Application Forms

For 2018/2019 tax year and where relevant, Third party cheques will not be accepted. 1 each subsequent tax year until further notice. ȂȂ If you are investing by Direct Debit, please complete ȂȂ If you have any queries when completing this form, please section 3 (overleaf) and keep a copy of the Direct Debit contact Schroders or your financial adviser. Guarantee (inside cover). ȂȂ Please use a BLACK PEN and BLOCK CAPITALS. ȂȂ Please make sure you have signed the declaration in section 2. ȂȂ If you are investing a lump sum, please make your cheque payable to: Schroder Unit Trusts Limited ISA. ȂȂ Remember you cannot apply for the Schroder Investment Trust ISA if you hold any other stocks and shares ISA for ȂȂ If you are investing using a cheque made out by your this tax year. building society, please refer to section 13. Money Laundering of the Terms and Conditions. ȂȂ Please return this form in the FREEPOST envelope provided. If you are using your own envelope ȂȂ If you are investing using a cheque made out by your please address it to: building society, please ensure that it is made payable Schroders Investor Services Department, FREEPOST, to Schroder Unit Trusts Limited ISA Re [Account RLTZ-CHSY-HBUT, PO BOX 1102, CHELMSFORD Holder’s Name]. CM99 2XX. 1 Your Details

Please also fill in ȂȂ We must have your Date of Birth, National Insurance Number and Nationality in order to be able to process your application. the reverse of this ȂȂ We cannot accept ‘care of’ addresses. application form. ȂȂ If you have never had a National Insurance Number, you must confirm this by ticking the box marked * below. How we use your information For the purposes of the General Data Protection Regulation 2016, the data controller in relation to any personal data you supply is Schroder Unit Trusts Limited. Information you supply may be processed for the purposes of investment administration by any company within the Schroders group, by third parties who provide services to Schroder Unit Trusts Limited and by your financial adviser, and such processing may include the transfer of data out of the European Economic Area. We would like to send you information about our financial and investment products and services, or those of our selected third parties, that we think will be of interest to you. We will contact you by post, telephone and email for this purpose. If you wish to receive this information, please tick this box.

Please tick if you are an existing Schroders investor:

Schroders Account Number

Title (e.g. Mr, Mrs)

First Names

Surname

Permanent Residential Address

Postcode

Phone Number (day)

Date of Birth d d m m y y

National Insurance Number * * Please tick if you do not have a National Insurance No.

Nationality

Email Address

Broker stamp required for validity (not transferable)

Schroder Agent Number:

Schroders Investment Trust ISA 9 2 Declaration

Please read through the declaration, and, if you agree with it, sign and date the appropriate boxes below. Money Laundering I understand that Schroders may need to use credit reference/information agencies in order to satisfy Schroders’ statutory money laundering obligations. These agencies may keep a record of this enquiry.

I wish to subscribe the lump sum/regular investment amount and the Prospectus and that I will notify Schroders immediately if indicated for the tax year 2019/2020 and I declare that: my status changes to become a US Person. a) I am aged 18 years or over and am subscribing with my own f) I have been provided with the relevant Key Information money; Document(s) and Key Features Document. b) I am resident in the United Kingdom for tax purposes or, if I understand that any false declaration may render my ISA void, not so resident, either perform duties which, by virtue of Section in which case all tax benefits obtained will need to be repaid to 28 of the Income Tax (Earnings & Pensions) Act 2003 (Crown HM Revenue and Customs with interest and/or any penalty that employees serving overseas), are treated as being performed in may be imposed. the United Kingdom, or I am married to, or in a civil partnership I authorise the ISA Manager: with, a person who performs such duties. I will inform Schroder i) to hold in my Schroder ISA my cash subscription, ISA Unit Trusts Limited if I cease to be so resident or to perform such investments, interest, dividends and any other rights or proceeds duties or to be married to, or in a civil partnership with, a person in respect of those investments and any other cash; and who performs such duties. ii) to make on my behalf any claims to relief from tax in respect of c) I have not subscribed and will not subscribe to another ISA of my ISA investments. the same type (cash or stocks and shares) in the same tax year. I understand and accept that this application is subject to the I have not and will not subscribe to more than £20,000 in the current applicable Schroder Unit Trusts Limited Terms and same tax year. Conditions. d) I will inform the ISA Manager promptly of any changes in my I hereby declare that to the best of my knowledge and belief all personal details as shown on this document. the information stated above is true and correct. e) I am not a US Person as defined in the Terms and Conditions

Signature

Date d d m m y y

3 Direct Debit Instruction

ȂȂ Please only complete this section if you wish to invest by Direct Debit. For joint bank or building society accounts please ensure both account holders sign the instruction. ȂȂ Please note that banks and building societies may not accept Direct Debit Instructions for some types of account. ȂȂ Your Direct Debit will be collected on or around the 10th of each month.

3 Direct Debit Instruction Instruction to your Bank or Building Society to pay by Direct Debit. Please fill in the form and return to: Schroders, Investor Services Department, FREEPOST, RLTZ-CHSY-HBUT, PO BOX 1102, CHELMSFORD CM99 2XX. 3.1 Name and Full Postal Address of your Bank/Building Society Branch

To: The Manager

Postcode

3.2 Name(s) of Account Holder(s)

3.3 Bank/Building Society Account Number

3.4 Branch Sort Code

Service User Number 8 5 4 5 5 7 Ref No.

3.5 Instruction to your Bank/Building Society Please pay Schroder Unit Trusts Limited Direct Debits from the account detailed in this instruction subject to the safeguards assured by the Direct Debit Guarantee. I understand that this instruction may remain with Schroder Unit Trusts Limited and if so, details will be passed electronically to my bank/building society.

Account Holder(s) Signature

Date d d m m y y

10 Schroders Investment Trust ISA 4 Income and Sale Proceeds

ȂȂ This section is for Lump Sum investors only. If you are investing by Direct Debit, we will automatically reinvest any income. ȂȂ If you wish to reinvest any income earned on your investment to maximise your long-term returns, DO NOT COMPLETE THIS SECTION and your income will be reinvested automatically. ȂȂ Only complete this section if you wish to have income paid directly into your bank account. We cannot make a payment into an account which is in another name. ȂȂ If you complete this section, when you come to sell your ISA, we will send the proceeds of the sale directly to your bank. If you do not wish us to send the sale proceeds directly to this bank please tick the box.

Name of Bank/Building Society

Address

Postcode

Account No.

Bank/Building Society Sort Code

Name of Account Holder

Building Society Roll No.

Type of Account

5 Investment Choice

ȂȂ Please note you can only invest in an ISA if you have not invested in any other stocks and shares ISA in the 2019/2020 tax year. ȂȂ Select which fund(s) you wish to invest in from the list below, and enter the code(s) in section 5.1. ȂȂ Insert the appropriate ‘Reference*’ letter in section 5.1. ȂȂ If you are investing a lump sum, tell us how much to invest in each fund in section 5.2. The minimum investment into each fund is £1,000. ȂȂ If you are investing by Direct Debit from your bank or building society, tell us how much you wish to invest each month in each fund in section 5.3. The minimum investment per fund is £50. ȂȂ If you want to invest through the combination of a lump sum and a regular monthly sum, you can do so by completing both sections 5.2 and 5.3. ȂȂ If you are investing a lump sum, please make your cheque payable to: Schroder Unit Trusts Limited ISA.

5.1 Fund Choice Please refer to the list of fund(s) at the end of this booklet and insert the appropriate fund code(s) and reference letter in the boxes below.

5.2 Lump Sum 5.3 Regular Savings Reference: (Minimum £1,000 per Fund) (Minimum £50 per Fund)

Code £ and/or £

Total £ and/or £

Issued by Schroder Unit Trusts Limited, 1 London Wall Place, London EC2Y 5AU. Registered in England No. 4191730. Authorised and regulated by the Financial Conduct Authority.

Schroders Investment Trust ISA 11 12 Schroders Investment Trust ISA Schroders Investment Trust ISA 2 2019/2020 Transfer Form ȂȂ You must read the Key Information Documents and Key ȂȂ Please make sure you have signed the form in Features Document before completing the transfer form. section 2 and section 5. ȂȂ If you have any queries when completing this form, ȂȂ Please return this form in the FREEPOST envelope please contact Schroders or your financial adviser. provided. If you are using your own envelope please ȂȂ Please use a BLACK PEN and BLOCK CAPITALS when address it to: Schroders Investor Services Department, completing this form. FREEPOST, RLTZ-CHSY-HBUT, PO BOX 1102, CHELMSFORD CM99 2XX.

1 Your Details

Please complete ȂȂ We must have your Date of Birth, National Insurance Number and Nationality in order to be able to process your application. Sections 1 to 6 ȂȂ If you have never had a National Insurance Number, you must confirm this by ticking the box marked* below. as appropriate ȂȂ We cannot accept ‘care of’ addresses. ȂȂ To process your application we must have your full name, including any middle names. How we use your information For the purposes of the General Data Protection Regulation 2016, the data controller in relation to any personal data you supply is Schroder Unit Trusts Limited. Information you supply may be processed for the purposes of investment administration by any company within the Schroders group, by third parties who provide services to Schroder Unit Trusts Limited and by your financial adviser, and such processing may include the transfer of data out of the European Economic Area. We would like to send you information about our financial and investment products and services, or those of our selected third parties, that we think will be of interest to you. We will contact you by post, telephone and email for this purpose. If you wish to receive this information, please tick this box.

Please tick if you are an existing Schroders investor

Schroders Account Number

Title (e.g. Mr, Mrs)

First Name(s)

Surname

Permanent Residential Address

Postcode

Phone Number (day)

Date of Birth d d m m y y

National Insurance Number * * Please tick if you do not have a National Insurance No.

Nationality

Email Address

Broker stamp required for validity (not transferable)

Schroder Agent Number:

Schroders Investment Trust ISA 13 2 Declaration

I declare that I wish to transfer the monies invested in the e) I am not a US Person as defined in the Terms and existing ISA detailed on this form into the Schroder Investment Conditions and the Prospectus and that I will notify Trust ISA and that: Schroders immediately if my status changes to become a a) I am aged 18 years or over and am subscribing with my US Person. own money; f) I have been provided with the relevant Key Information b) I am resident in the United Kingdom for tax purposes or, Document(s) and Key Features Document. if not so resident, either perform duties which, by virtue of I understand that any false declaration may render my ISA Section 28 of the Income Tax (Earnings & Pensions) Act 2003 void, in which case all tax benefits obtained will need to be (Crown employees serving overseas), are treated as being repaid to HM Revenue and Customs with interest and/or any performed in the United Kingdom, or I am married to, or in penalty that may be imposed. a civil partnership with, a person who performs such duties. I authorise the ISA Manager: I will inform Schroder Unit Trusts Limited if I cease to be so resident or to perform such duties or to be married to, or in i) to hold my ISA investments, cash subscriptions, interest, a civil partnership with, a person who performs such duties. dividends and any other rights or proceeds in respect of those investments and in my Schroder ISA; and c) I have not subscribed and will not subscribe to another ISA of the same type (cash or stocks and shares) in the same tax ii) to make on my behalf any claims to relief from tax in year. I have not and will not subscribe to more than £20,000 respect of investments in my ISA. in the same tax year. I understand and accept that this application is subject to d) I will inform the ISA Manager promptly of any changes in the current applicable Schroder Unit Trusts Limited Terms my personal details as shown on this document. and Conditions. I hereby declare that to the best of my knowledge and belief all the information stated above is true and correct.

Signature

Date d d m m y y

3 Investment Choice

ȂȂ If you wish to reinvest any income earned on your investment to maximise your long-term returns, go straight to section 5. and DO NOT COMPLETE THIS SECTION and your income will be reinvested automatically. ȂȂ Only complete this section if you wish to have income paid directly into your bank account. We cannot make a payment into an account which is in another name. ȂȂ If you complete this section, when you come to sell your ISA, we will send the proceeds of the sale directly to your bank. If you do not wish us to send the sale proceeds directly to this bank please tick the box

Please refer to the list of fund(s) at the end of this booklet and insert the appropriate fund code(s) and reference letter in the boxes below.

Reference:

3.1 Investment Trust Selection 3.2 Investment Split In-specie*

Code %

Total 100%

* Tick the ‘In-specie’ box if you are transferring an ISA which includes Schroders funds that you would like transferred as shares.

14 Schroders Investment Trust ISA 4 Income and Sale Proceeds

ȂȂ If you wish to reinvest any income earned on your investment to maximise your long-term returns, DO NOT COMPLETE THIS SECTION and your income will be reinvested automatically. ȂȂ Only complete this section if you wish to have income paid directly into your bank account. We cannot make a payment into an account which is in another name. ȂȂ If you complete this section, when you come to sell your ISA, we will send the proceeds of the sale directly to your bank. If you do not wish us to send the sale proceeds directly to this bank please tick the box

Name of Bank/Building Society

Address

Postcode

Account No.

Bank/Building Society Sort Code

Name of Account Holder

Building Society Roll No.

Type of Account

✁ ✁

5 Instructions to Existing ISA Manager to Transfer my ISA

Please complete all details required in this section. The form will be sent to your existing ISA manager to arrange the transfer.

* Tick the appropriate box below if you are transferring an ISA which includes Schroders funds that you would like transferred as shares.

Current tax year In-specie . Previous tax year In-specie .

Name of ISA Manager

Account No. *Current Year ISA £ *ISA Holdings from previous tax years Entire Partial Amount

Title (e.g. Mr, Mrs)

Initials

Surname

Signature

Date d d m m y y

I hereby instruct the ISA manager named above (the Existing ISA Manager) as soon as reasonably practicable to liquidate the investments in the ISA(s) listed above and to transfer the ISA(s) together with the sale proceeds and interest to Schroder Unit Trusts Limited (the New ISA Manager) subject to acceptance. I further instruct my Existing ISA Manager to provide Schroder Unit Trusts Limited with any information requested in respect of the existing ISA(s) including but not limited to transaction and dividend histories and details of the current portfolio and its value.

I understand that the cash transferred in respect of the above ISA(s) will be reinvested in accordance with the instructions to the New ISA Manager indicated overleaf.

Schroders Investment Trust ISA 15 6 Details of Existing Account to be Transferred

ȂȂ If you are transferring an ISA from the current tax year, you must transfer your entire holding. You must specify by ticking the box in section 6.1. ȂȂ If you are transferring ISA holdings from previous tax years, you must specify whether you are transferring your entire holding or a specific amount in section 6.2. ȂȂ Some Plan Managers may allow you to transfer individual plan years, others do not. Please check with your existing Plan Manager if you wish to specify Plan Year(s). ȂȂ You can transfer both your current tax year ISA holding and ISA holdings from previous tax years by completing sections 6.1 and 6.2.

Name of ISA Manager

Address of ISA Manager

Postcode

Account No.

Phone Number (day) I confirm the ISA to be transferred is:

6.1 Entire current year holding £ 6.2 ISA holding from previous tax year(s) Transfer Entire Holding OR Transfer Amount

Issued in March 2019. Issued by Schroder Unit Trusts Limited, 1 London Wall Place, London EC2Y 5AU. Registered in England No. 4191730. Authorised and regulated by the Financial Conduct Authority. UKFS390.

16 Schroders Investment Trust ISA Schroders Investment Trust ISA 17 ✁ ✁

The Direct Debit Guarantee This Guarantee is offered by all banks and you 14 working days in advance of your refund of the amount paid from your bank building societies that accept instructions account being debited or as otherwise or building society. to pay Direct Debits. agreed. If you request Schroder Unit Trusts If you receive a refund you are not entitled If there are any changes to the amount, Limited to collect a payment, confirmation to, you must pay it back when Schroder date or frequency of your Direct Debit of the amount and date will be given to Unit Trusts Limited asks you to. you at the time of the request. Schroder Unit Trusts Limited will notify You can cancel a Direct Debit at any time If an error is made in the payment of by simply contacting your bank or building your Direct Debit, by Schroder Unit Trusts 18 Schroders Investment Trust ISA society. Written confirmation may be Limited or your bank or building society required. Please also notify us. you are entitled to a full and immediate Key Features of the Schroders Investment Trust ISA March 2019

✁

The Financial Conduct Authority is the independent fi nancial services regulator. It requires us, Schroders, to give you this important information to help you decide whether our investment trusts are right for you. You should read this document carefully so that you understand what you are buying, and then keep it for future reference.

Contents

About this Key Features document ______2 Schroders’ range of investment trusts ______2 Investment Trust ISA investments ______2 How do I invest? ______3 The risks ______3 Cancellation ______4 Income______4 Charges and expenses information ______5 Switching ______5 Selling ______5 Transferring ______5 General information ______6 Complaints ______6 Glossary ______7

Investment Trust ISA Key Features 1 About this Key Features document

Schroders are required to provide you with important information to help you decide whether our Investment Trusts are right for you.

You should read this document carefully in addition to the Key Information Document so that you understand what you are buying, and then keep it for future reference.

If, however, there is further information you require or you would like to learn more about the investment trusts, please contact your fi nancial adviser or Schroders on 0800 718 777*. Please note that at Schroders we can only provide you with information on our funds and are not able to advise you as to what investment trust is most suitable for you. For advice you should contact your fi nancial adviser. If you do not have a fi nancial adviser you can fi nd one at www.schroders.co.uk/unbiased

*Please note, for your security, calls to Schroders may be recorded. Schroders’ range of investment trusts

Investment trust is used in this Aims documentation to describe a listed An investment trust aims to increase investment company that owns a portfolio capital and/or income for its shareholders of investments managed by Schroders. by investing in the shares of different The investment trusts available in the companies, which enables shareholders Schroders Investment Trust ISA include to access a wider range of stocks than UK investment trusts and overseas they would normally be able to invest in investment companies, but all are and so benefi t from holding a diversifi ed listed on the London Stock Exchange. portfolio of shares in a single investment. The Schroders Investment Trust ISA is Each investment trust has a specifi c aim, categorised as a stocks and shares ISA. which determines the types of shares or securities in which it invests. These are detailed on each of the investment trust information pages. Investment Trust ISA investments

How much can I invest in an ISA? Your commitment The annual ISA allowance for the tax year To invest you will need a lump sum 2019/2020 is £20,000 which can be split investment of at least £1,000. If you wish between a cash ISA and a stocks and to top up your investment you can do shares ISA as the investor wishes. Where so with any amount over £500. As an an investor subscribes to both a cash ISA alternative, you may invest a minimum and a stocks and shares ISA the amount of £50 a month. You can start and stop subscribed must not exceed the overall investing whenever you like by informing subscription limit of £20,000. us in writing. The Schroders Investment Trust ISA There is no minimum term that you must The Schroders Investment Trust ISA allows hold your investments for, although you you to invest up to £20,000 in a stocks and should note that if you sell your shares shares component (Schroders does not shortly after purchasing them you are offer a cash ISA). likely to make a loss on your initial capital due to the difference between the buying and selling price.

2 Investment Trust ISA Key Features How do I invest?

Complete and return application form will not normally be the same as the number 1 in the application form booklet. value of the underlying investments in the portfolio, known as the net asset value Who do I make the cheque payable to? per share. If the price is higher than the net You should make your cheque payable to asset value, you are paying a premium, if “Schroder Unit Trusts Limited”. the price is lower, you are buying shares at When will my direct debit be collected? a discount. Your direct debit will be collected on or What documentation will I receive? around the 10th of each month. ISA Shortly after you invest you will receive direct debits will automatically rollover a confi rmation letter and contract note, into the next tax year unless you notify which should be returned as instructed. It us differently. will show the price and date at which you When will my investment be opened? have bought your shares. We do not issue We will invest your money on the day we share certifi cates so we suggest that you receive your application, if it is before retain the contract note. 12 noon, or otherwise on the following A statement will be sent twice a year as at working day. 5 April and 5 October. How are share prices of the trusts determined? The price you pay for shares will be determined by the market makers on the basis of the supply and demand for the shares. The price that you pay per share The risks

If you invest in investment trusts you Ȃ Market risk: there is the risk of losses should be aware that there are risks due to changes in market prices. involved. Ȃ Liquidity risk: the risk that a position Most importantly you may not get back cannot be liquidated (sold) in a timely what you originally invested when you manner at a reasonable price. sell. Both your initial capital sum and the income the investment may pay, can go Ȃ Inﬂ ation risk: infl ation will reduce the down as well as up due to price changes purchasing power of your money in the fi nancial markets outside Schroders’ in the future. control. Ȃ Change in tax regime: the favourable You should be aware that the past treatment of ISAs may not be maintained. performance of your investment is not an indicator of its future performance. Ȃ The share price of an investment trust will not always refl ect the underlying value of the investments in its portfolio. This is because the share price is determined by the demand for and supply of shares traded on the stockmarket and not the value of the trust’s investments. If the share price is higher than the net asset value per share, the shares are said to be trading at a premium and if it is lower, they are said to be trading at a discount. Therefore, shareholders may realise returns which are lower or higher than the net asset value performance of the shares in the investment trusts.

Investment Trust ISA Key Features 3 Cancellation

Will I have cancellation rights? If you have received advice from an authorised fi nancial adviser, you are entitled to a ‘cancellation’ period of 14 days, from the receipt of your notice of cancellation rights. During this time, if you change your mind, simply complete and return the cancellation form (which will be sent to you with your confi rmation letter). We will sell the investments made on your behalf and send you the proceeds including a refund of any initial charges, less any fall in the share price. If you change your mind during the cancellation period, you will be able to open another ISA of the same type in the same tax year. However, if you change your mind after 14 days, you will have to sell your ISA, and will not be allowed to open another stocks and shares ISA in the same tax year. Income

How and when will I receive What are the tax advantages? my income? Any income you receive, or is When a trust pays a dividend it will accumulated, will not be liable to further automatically be re-invested on the income tax, irrespective of your tax payment date to purchase further shares status. Income tax suffered on interest in the trust in which you have invested distributions/ accumulations will be to maximise the potential long term reclaimed by Schroders on your behalf. investment returns. When you eventually come to sell your investment, there will be no chargeable If you would like to have your dividends gain or allowable loss arising in respect of paid out to you, you must select this Capital Gains Tax. option on the application form you complete. Income will then be paid directly to your bank/building society account on the dividend payment date. You may change your choice by providing us with the relevant details of the changes you would like to make.

What do I have to tell HM Revenue Can I add to my investment? and Customs? Yes. Let us know in writing how much you Nothing Ȃ you do not have to declare ISAs wish to add and into which investment in your tax return. trust (or trusts) and send us a cheque made payable to Schroder Unit Trusts Can I invest if I am living abroad? Limited quoting your account number. You cannot open an ISA whilst living or Please remember, you cannot exceed your working abroad unless you are a Crown £20,000 annual contribution limit. Employee or the spouse of, or in a civil partnership with a Crown Employee working abroad. You can invest in an ISA before you go, but you cannot make any further contributions to it whilst you are living abroad.

4 Investment Trust ISA Key Features Charges and expenses information

What are the charges? In addition to the charges that are set out in the Key Information Document, Schroders shall also be entitled to levy an annual ISA charge of 0.5% + VAT per annum. The charge is calculated and deducted every six months on a pro rata basis from your holding at which point we will sell a proportion of your holding.

Switching

Can I switch between trusts once my ISA is open? Yes. You can instruct us in writing to switch between investment trusts. The investment trust shares will be sold at the relevant share price and new shares will be bought subject to stamp duty of 0.5% (except for Schroder Oriental Income Fund Limited) and a 0.5% dealing charge. Selling

How do I sell my ISA and how quickly Do I have to keep my investment for will I get my proceeds? a minimum length of time? You can instruct Schroders to sell shares in No, you can sell all or part of your writing, by telephone or by signed fax. We investment whenever you like, subject to will sell your holdings on the day of receipt a 0.5% dealing charge. If you do want to of your instructions, subject to a 0.5% sell part or all of your investment, simply dealing charge, provided they are received write and let us know. Remember, it is the before 12 noon. We will then send a cheque contributions into your ISA which count for the proceeds to you on or by the close towards the annual limit of £20,000. Once of business four working days later. If (after you have withdrawn cash from your ISA you have sold your shares) you have less you will be unable to put it back in the than the minimum investment of £1,000 same tax year. we reserve the right to sell your remaining shares on your behalf. Transferring

Can I transfer my ISA investments the current tax year. This may mean that between different managers? if the value of your current year’s ISA is If you have taken out an ISA in the current lower than the sum of your current year’s tax year, the rules require you to transfer contributions, we may have to transfer out your entire ISA holding for that tax investments from a previous year’s ISA to year. Because Schroders previously make up the difference. However, if you merged investment trust ISAs from hold ISAs from previous tax years, you can different tax years, it will not always be indicate how much of your accrued ISA possible for us to transfer your precise investments you wish to transfer. investments from a specifi c tax year. For To make such a transfer, please complete transfer purposes, Schroders calculates application form number 2 from the your current tax year’s ISA holding as application form booklet. the total of all your contributions over

Investment Trust ISA Key Features 5 General information

Who is the plan manager of my ISA? Schroders can also give you information The ISA manager is Schroder Unit Trusts about dividends that have been paid as Limited, 1 London Wall Place, London well as arranging for you to receive copies EC2Y 5AU. Schroder Unit Trusts Limited is of the Annual Reports, if required. authorised and regulated by the Financial What is my best source of information Conduct Authority (FCA) and is entered about my ISA? on the Financial Services register under Please contact Schroders for the Annual register number 197288. The principal Report and Accounts and the monthly business of the plan manager is the Investment Trust Factsheets. These are provision of ISA administration services available free of charge. The monthly and marketing of unit trusts. factsheets can be found at www. Who is the administrator of the schroders.co.uk. All other information Schroders Investment Trust ISA? about Schroders’ investment trusts is DST Financial Services Europe Ltd available on request from Schroders at administers your investment on behalf the following address: Schroders Investor of Schroder Unit Trusts Limited. Services, PO Box 1102, Chelmsford CM99 2XX. Telephone number: 0800 718 777*. What is the ISA administration address? Schroders Investor Services, PO Box 1102, Where can I fi nd the latest prices Chelmsford CM99 2XX. for my investment trust? Prices can be found on the internet at: Where can I fi nd out about the net www.schroders.com/en/uk/private- asset value, premium or discount? investor/fund-centre/funds-in-focus/ The net asset value of each investment investment-trusts/ trust is published daily and is available from www.schroders.co.uk or each trust’s How much will any advice cost? individual website (details on pages 5 to We only provide you with information 13). Information about the share price about Schroders’ products and will not and the dividend is also available from offer any advice based on individual www.schroders.co.uk. Alternatively, circumstances. If you are in doubt as information is available monthly from to whether a product is suitable, you the Association of Investment Companies should consult a fi nancial adviser. (020 7282 5555). Complaints

Complaints should be addressed to What happens if Schroders is unable to Head of Investor Services, Schroders, meet its liabilities? PO Box 1102, Chelmsford CM99 2XX. A statement of your rights to compensation You can request a copy of our written in the event of Schroders being unable internal complaints procedures by to meet its liabilities to you is available writing to the above address or by from the FCA and the Financial Services telephoning Schroders Investor Services Compensation Scheme. Further details can on 0800 718 777*. You may also have the be found at www.fscs.org.uk. right to refer the complaint direct to the: *Please note, for your security telephone calls to Financial Ombudsman Service, Schroders may be recorded. South Quay Plaza, 183 Marsh Wall, London E14 9SR Tel: 0845 080 1800 www.fi nancial-ombudsman.org.uk

6 Investment Trust ISA Key Features Glossary

Dividends Payments made by a company to its shareholders. When an investment (also refer to ‘income’) trust makes a revenue, the board decides to either reinvest the money in the company or pay its shareholders.

Income The return investors receive from their portfolios. The sort of investments that produce income include securities such as stocks, bonds and mutual funds. Income can take the form of dividends, interest and capital gain generated from securities and other forms of investment.

Investment Trust An investment trust is a listed company that invests in the shares of different companies.

ISA Individual Savings Accounts (ISAs) are tax free wrappers you can invest cash or shares in. Please refer to page 2 for more information.

Market Makers People who trade in the market as principals, and create a market in a specifi c stock by quoting prices at which they will buy or sell on demand.

Net Asset Value The total value of a trust measured by taking the total value of its assets, (NAV) less its liabilities. The NAV per share is calculated by dividing the resulting number by the number of ordinary shares in issue. This term is used to describe the underlying value of an investment trust’s share.

Share price Ȃ At a discount If the share price of a trust is lower than the NAV per share, the trust is said to be trading at a discount. The discount is shown as a percentage of the NAV. Ȃ At a premium If the share price of a trust is higher then the NAV per share, the trust is said to be trading at a premium. The premium is shown as a percentage of the NAV.

For further explanation of fi nancial terms visit www.schroders.co.uk/glossary. Printed copies are available by contacting the company address overleaf.

Investment Trust ISA Key Features 7 schroders.com @schroders

Issued in March 2019 by Schroder Unit Trusts Limited, 1 London Wall Place, London EC2Y 5AU. Authorised and regulated by the Financial Conduct Authority. Please note that for investors’ security all telephone calls to Schroders Investor Services may be recorded. ITKFD. CS1255

When completing your application form, please insert the appropriate code(s) for the fund(s) you wish to invest in.

Information for financial advisers: Please insert the reference letter in Investment Choice Section. Reference letter A For Investors information: Before you invest, please read the Key Information Documents and Key Features Document provided to you. These documents are current at the time of provision. Updates are made annually and may be subject to further change from time to time, so delaying your application could lead to you making your investment decision based on out of date information. To ensure you have the most recent versions, please visit schroders.co.uk/investor and refer to the date at the bottom of page 2 of the document.

Schroder Fund Code Asia Pacific IAS Income Growth IIG Japan Growth IJP Oriental Income IOR UK Mid Cap IKM

Issued in March 2019 by Schroder Unit Trusts Limited, 1 London Wall Place, London EC2Y 5AU. Registered in England No. 4191730. Authorised and regulated by the Financial Conduct Authority. UKFS390. CS1256.