Fund objectives and investment policy The fund aims to provide long term capital growth in excess of the FTSE 250 ex Investment Trusts (Gross Total Return) index (after fees have been deducted) over a 3 to 5 year period by investing in equities of companies listed in the FTSE 250 ex Investment Trusts. The fund is actively managed and invests at least 80% of its assets in equities of UK companies listed in the FTSE 250 Ex- Investment Trusts index. These are companies that are incorporated, headquartered or have their principal business activities in the UK.The investment manager believes that these investments can potentially offer faster rates of profit and dividend growth and higher long-term returns than their larger counterparts. The fund may also invest in former components of, or expected entrants into, that index if the investment manager believes it may be advantageous to do so. The fund may also invest directly or indirectly in other securities (including in other asset classes), countries, regions, industries or currencies, collective investment schemes (including Schroder funds), warrants and money market instruments, and hold cash. The fund may use derivatives with the aim of reducing risk or managing the fund more efficiently. Relevant risk as associated with this Fund are shown overleaf and should be carefully considered before making any investment. Share class performance Fund facts Cumulative Fund manager Andrew Brough 1 month 3 months YTD 1 year 3 years 5 years 10 years performance Managed fund since 19.11.1999 Share class (Net) 8.3 15.9 27.2 27.2 30.8 42.0 185.0 Fund management Schroder Unit Trusts company Limited Target 5.9 11.6 30.8 30.8 31.2 54.5 - Domicile United Kingdom Comparator 3.8 7.1 22.4 22.4 24.0 44.2 - Fund launch date 25.10.1999 Share class launch 08.11.2011 Discrete yearly Dec 14 - Dec Dec 15 - Dec Dec 16 - Dec Dec 17 - Dec Dec 18 - Dec date performance 15 16 17 18 19 Fund base currency GBP Share class (Net) 6.4 2.0 23.7 -16.9 27.2 Share class currency GBP Target 12.0 5.1 18.2 -15.2 30.8 Fund size (Million) GBP 1,145.24 Comparator 4.8 11.0 14.1 -11.2 22.4 Number of holdings 59 Target FTSE 250 Ex Calendar year 2015 2016 2017 2018 2019 Investment Trust TR performance GBP Share class (Net) 6.6 2.0 23.7 -16.9 27.2 Comparator IA OE UK All Companies Target 12.0 5.1 18.2 -15.2 30.8 Unit NAV GBP 1.3370 Comparator 4.8 11.0 14.1 -11.2 22.4 Dealing frequency Daily Distribution Annually Performance over 5 years (%) frequency 50.0% Fees & expenses 25.0% Ongoing charge 0.91% 0.0% Purchase details -25.0% Minimum initial GBP 1M 2015 2016 2017 2018 2019 subscription Schroder UK Mid 250 Fund Z Accumulation GBP FTSE 250 Ex Investment Trust TR GBP IA OE UK All Companies Codes ISIN GB00B76V7S22 Past Performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and Bloomberg SCHUMZA LN investors may not get back the amounts originally invested. Exchange rate changes may SEDOL B76V7S2 cause the value of any overseas investments to rise or fall. Source: Morningstar, bid to bid, net income reinvested, net of fees. Ratings and accreditation Benchmarks: The fund’s performance should be assessed against its target benchmark, being to exceed the FTSE 250 ex Investment Trusts (Gross Total Return) index, and compared * ** against the Investment Association UK All Companies sector average return. The investment manager invests on a discretionary basis and is not limited to investing in accordance with the composition of the benchmark. Please see the Benchmark section under Important information for more details. Please refer to the Important information section for the disclosure. Learn more about Schroders' funds visit: schroders.co.uk 1 5 year return of GBP 10,000 Synthetic risk & reward indicator (SRRI) 16,000 60.0% LOWER RISK HIGHER RISK Potentially lower reward Potentially higher reward 15,000 50.0% 14,000 40.0% 1 2 3 4 5 6 7 13,000 30.0% The risk category was calculated using historical performance data and may not be a reliable 12,000 20.0% indicator of the fund’s future risk profile. The fund’s risk category is not guaranteed to remain 11,000 10.0% fixed and may change over time. A fund in the 10,000 0.0% lowest category does not mean a risk-free investment. The fund is in this category because 9,000 -10.0% it can take higher risks in search of higher Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 rewards and its price may rise and fall Schroder UK Mid 250 Fund Z Accumulation GBP FTSE 250 Ex Investment Trust TR GBP accordingly. IA OE UK All Companies Risk statistics & financial ratios Past Performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and Fund Target investors may not get back the amounts originally invested. Exchange rate changes may Annual volatility (%) 13.1 11.3 cause the value of any overseas investments to rise or fall. (3y) The chart is for illustrative purposes only and does not reflect an actual return on any Alpha (%) (3y) -0.6 - investment. Returns are calculated bid to bid (which means performance does not include the effect of any Beta (3y) 1.1 - initial charges), net income reinvested, net of fees. Sharpe ratio (3y) 0.7 0.8 Risk considerations Dividend Yield (%) 3.0 - Price to book 1.9 - Counterparty risk: The counterparty to a derivative or other contractual agreement or Price to earnings 16.3 - synthetic financial product could become unable to honour its commitments to the fund, potentially creating a partial or total loss for the fund. Currency risk: The fund can be exposed to different currencies. Changes in foreign exchange Target refers to the Benchmark listed in the rates could create losses. Fund facts section and described under the Derivatives risk: A derivative may not perform as expected, and may create losses greater Share class performance section on page 1. than the cost of the derivative. Source: Morningstar. The above ratios are based Equity risk: Equity prices fluctuate daily, based on many factors including general, economic, on bid to bid price based performance data. industry or company news. These financial ratios refer to the average of the Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full equity holdings contained in the fund’s portfolio value or at all. This could affect performance and could cause the fund to defer or suspend and in the benchmark (if mentioned) redemptions of its shares. respectively. Operational risk: Failures at service providers could lead to disruptions of fund operations or Please note this is an accumulation share class losses. and as such the investor will not receive an income distribution. Any income will be reinvested into the fund. Learn more about Schroders' funds visit: schroders.co.uk 2 Asset allocation Sector (%) 26.5 Industrials 26.8 22.6 Financials 28.6 21.7 Consumer Services 18.9 13.0 Consumer goods 8.5 4.5 Basic materials 2.8 4.3 Oil & Gas 2.5 3.3 Telecommunications 0.5 2.4 Liquid Assets 0.0 1.7 Health Care 3.7 0% 5% 10% 15% 20% 25% 30% Fund Benchmark Top 10 holdings (%) Holding name % 1 Frasers Group PLC 4.5 2 James Fisher & Sons PLC 4.0 3 Games Workshop Group PLC 4.0 4 Vistry Group PLC 3.7 5 Spectris PLC 3.6 6 Grainger PLC 3.6 7 Telecom Plus PLC 3.3 8 Redrow PLC 2.9 9 Man Group PLC/Jersey 2.8 10 Intermediate Capital Group PLC 2.7 Target refers to the Benchmark listed in the Fund facts section and described under the Share class performance section on page 1. Source: Schroders. Top holdings and asset allocation are at fund level. Share class available Z Accumulation GBP Z Distribution GBP Distribution Annually Annually frequency ISIN GB00B76V7S22 GB00B76V7X74 Bloomberg SCHUMZA LN SCHUMZI LN SEDOL B76V7S2 B76V7X7 Contact information Schroder Unit Trusts Limited 1 London Wall Place London United Kingdom EC2Y 5AU Tel: 0207 658 1000 Fax: 0207 658 3827 For your security, communications may be taped or monitored. Learn more about Schroders' funds visit: schroders.co.uk 3 Important information The fund is an authorised unit trust. A Key Investor Information Document and Supplementary Information Document are available. These can be requested via our website at www.schroders.co.uk or call one of our Investor Services Team on 0800 718 777 for a printed version. For investors’ security, telephone calls to Schroder Unit Trusts Limited may be recorded. This information is not an offer, solicitation or recommendation to buy or sell any financial instrument or to adopt any investment strategy. Nothing in this material should be construed as advice or a recommendation to buy or sell. Any references to securities, sectors, regions and/or countries are for illustrative purposes only. Schroders has expressed its own views and opinions in this document and these may change. Schroders will be a data controller in respect of your personal data. For information on how Schroders might process your personal data, please view our Privacy Policy available at www.schroders.com/en/privacy-policy or on request should you not have access to this webpage.