PENSION FUND PERFORMANCE Investments April 2018 royallondon.com
PENSION FUND PERFORMANCE VS. BENCHMARK The following tables show the performance of the Royal London Unit Linked Pension fund range. Each fund s performance is shown against its benchmark: a gauge against which the performance of the fund can be measured. The benchmark is usually an index; for example, the FTSE All Share Index, which tracks the performance of UK shares. A fund may also be benchmarked against the sector average: the average performance of all pension funds within a sector. Where a fund invests in a number of different geographical areas or asset types, a composite benchmark may be used. This is when a mixture of indices has been used as a performance gauge. The mix between these indices will usually reflect the actual asset allocation of the fund. Further information on any of the benchmarks used can be found on our fund factsheets at royallondon.com/pensioninvestments 2
Past performance is not a guide to the future. Prices can fall as well as rise meaning you may not get back the value of your original investment. Investment returns may fluctuate and are not guaranteed. Deposit Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP Deposit 1.00% 1.00% Active 0.06-0.67-0.8-0.47-0.49-0. -0.7-0.4 0.00 1.29 01.0.84 LIBID GBP 7 days Index -0.66-0.67-0.2-0.2-0.2-0.62-0.8-0.1 1.1 Difference -0.01 0.09 0.0 0.0-0.01 0.0 0.04 0.1 0.14 Government & Corporate Bonds Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP Annuity 1.00% 1.00% Active N/A 1.06 7.04 N/A N/A N/A N/A N/A N/A N/A 21.08.1 Composite Benchmark -0.0 6.19 N/A N/A N/A N/A N/A N/A N/A Difference 1.6 0.8 N/A N/A N/A N/A N/A N/A N/A RLP Corporate Bond 1.00% 1.00% Active 4.0..2-0.0 12.1 4.94 4.2.92 6.94.98 1.0.02 Markit iboxx Sterling Non Gilts 0.24 8.16-0. 11.9 0.7 2.4.9.2 4.48 Overall Index Difference.09 2.07 0.0 0.18 4.7 1.71 1.97 1.62 1.0 RLP Ethical Bond 1.00% 1.00% Active 4.98 2.6 9.0 0.07 1.01 2.96.99.2 N/A N/A 29.0. Markit iboxx Sterling Non Gilts 0.24 8.16-0. 11.9 0.7 2.4.9 N/A N/A Overall Index Difference 2.9 1.4 0.62 1.06 2.9 1.4 1.7 N/A N/A RLP Fixed Interest 1.00% 1.00% Active 6.4-0.1 6.29 2.28 11.79-2.0 2.77.46 4.7 4.11 01.0.84 FTSE Actuaries UK Conventional Gilts All Stocks Index -0.4.7 2.22 12.78 -. 2.8.1 4.7 4.21 Difference 0.41 0.72 0.06-0.99 1.2 0.9 0.1 0.18-0. RLP Global High Yield Bond 1.00% 1.00% Active 4.14 1.91 8.7 2.21 0.78 9.09 4.12 4.41 N/A N/A 18.02.1 BofA Merrill Lynch Global Non-Financial 2.92 1.22-1.7 2.48 7.4.22.12 N/A N/A High Yield Constrained Index Difference -1.01-6.8.96-1.70 1. -1. -0.71 N/A N/A RLP Global Index Linked 1.00% 1.00% Active 4.60 0..46 1.09 7.94-4.81 2.4 1.9 N/A N/A 29.0. Barclays Capital World Govt Inflation -4.14 14.1.28 11.4-11.26 4.27 2.1 N/A N/A Link Index Difference 4.69-9.0-2.19 -.49 6.4-1.9-0.6 N/A N/A RLP Index Linked 1.00% 1.00% Active.82-0.22 18.2 0.82 18.09-4.19.97 6.1 6.82 6.62 01.0.84 FTSE Actuaries Gov Sec UK Index -0.47 18.70 0.7 17.7-4.7.97.87 6.68 6.49 Linked Index Difference 0.2-0.8 0.09 0.72 0.6 0.00 0.26 0.14 0.1 RLP International Government Bond 1.00% 1.00% Active 2.69 0.19-1.46.11.26 1. 0.9 1.61 N/A N/A 28.11.11 ABI Global Fixed Interest Index -2.89 9.1.4 6.84-6.01.12 1.9 N/A N/A Difference.08 -.61-0.4-1.8 7.11-2. -0.4 N/A N/A RLP Long (1yr+) Corporate Bond 1.00% 1.00% Active.9 2.7 1. -2.4 20.78 2.0.01 7.4 8.6 N/A 22.09.04 Composite Benchmark 0.88 14.7-2.28 20.8 0.08 4.14 6. 7.8 N/A Difference 1.87 0.96-0.1 0.40 2.22 0.87 1.08 1.2 N/A RLP Long (1yr+) Gilt 1.00% 1.00% Active 9.79 0.04 8.88.40 21.76 -.98 4.04.66 6.80 N/A 22.09.04 Composite Benchmark 0.11 8.8 2.72 22.9-4.47.8.62 6.78 N/A Difference -0.07 0.0 0.68-1.19 0.49 0.21 0.04 0.02 N/A RLP Long (1yr+) Index Linked 1.00% 1.00% Active 7.94-0.0 1.1-0.29 1.17 -.61.99.74.79 N/A 22.09.04 Composite Benchmark -1.18 14.4 0.27 12.80-6.7 4.2.61.80 N/A Difference 0.88-1.19-0.6 0.7 0.96-0.26 0.1-0.01 N/A RLP Medium (yr) Corporate Bond 1.00% 1.00% Active 7.19 1.4 12.0-1.16 16.16 2.1.9.91 7.1 N/A 22.09.04 Composite Benchmark 0.62.60-0.9 16.0 0.7.29.12 6.6 N/A Difference 0.81 1.4-0.21 0.11 1.76 0.66 0.79 0.7 N/A RLP Medium (yr) Gilt 1.00% 1.00% Active 6. -1.46.9.0 1.62 -.84 2.4.26.24 N/A 22.09.04 Composite Benchmark -1.19.41 2.77 14.71-4.42 2.29.2. N/A Difference -0.27 0.18 0. -1.09 0.8 0.14 0.01-0.09 N/A RLP Medium (yr) Index Linked 1.00% 1.00% Active 4.88-0.91 9.26 0.00 6.6 -.09 2.68 2.2 4.9 N/A 22.09.04 Composite Benchmark -1.2 9.40 0.04 6.1 -.70 2.9 2.07 4.6 N/A Difference 0.41-0.14-0.04 0.0 0.61 0.09 0.18-0.06 N/A RLP Short (yr) Corporate Bond 1.00% 1.00% Active.9 1.14 7.79 0. 8.29 2...97.4 N/A 22.09.04 Composite Benchmark 0.02.79 0.18 8.68 0.77 1.96.0 4.4 N/A Difference 1.12 2.00 0. -0.9 1.8 1.14 0.94 0.89 N/A
Government & Corporate Bonds (continued) Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP Short (yr) Gilt 1.00% 1.00% Active 2.96-1.6 2.04 1.7.46-2.46 0.7 1.00.02 N/A 22.09.04 Composite Benchmark -1.91 1.99 1.82 6. -.2 0.62 0.98.1 N/A Difference 0. 0.0-0.07-1.09 0.79 0.11 0.02-0.11 N/A RLP Short (yr) Index Linked 1.00% 1.00% Active 2.49-1.6.61-0.20 0.80 -. 1.21 0.17 2.68 N/A 22.09.04 Composite Benchmark -1.78.4-0.1 1.02-4.14 1. 0.01 2.7 N/A Difference 0.1 0.07 0.11-0.22 0.61 0.11 0.16-0.0 N/A RLP Short Duration Global High Yield 1.00% 1.00% Active 0.90 1.18 2.99 2.99 2.98.66 2.8.1 N/A N/A 18.02.1 LIBOR GBP Months Index -0.9-0.6-0.42-0.4-0.48-0.2-0.0 N/A N/A Difference 1.77..41.4 6.14 2.90.6 N/A N/A RLP Sterling Extra Yield Bond 1.00% 1.00% Active 4.29 7.6 16.69-1.0 6. 9.96 7.0 7.7 N/A N/A 29.0. Composite Benchmark 2.00 9.70-0.89 9.29.0.1 4.9 N/A N/A Difference.6 6.99-0.16-2.96 4.91.99 2.80 N/A N/A RLP UK Government Bond 1.00% 1.00% Active 6.41-0.1.71 2.61 11.8 -.08 2.7.14 N/A N/A 29.0. FTSE Actuaries UK Conventional Gilts -0.4.7 2.22 12.78 -. 2.8.1 N/A N/A All Stocks Index Difference 0.0 0.14 0.9-1.20 0.4 0.19-0.01 N/A N/A RLP/Baillie Gifford High Yield Bond 1.0% 1.2% Active.7 4.4.28-0.0 1.90 8.89 4.64 4.92 N/A N/A 29.0. BofA Merrill Lynch European Currency.0 1.28 6.61-6.69 8.22 8.96.49 N/A N/A High Yield Index Difference -0.87 -.00-7.11 8.9 0.67-4.2-0.7 N/A N/A RLP/BlackRock Aquila Long Gilt Index 1.00% 1.00% Tracker 12.67 1.0 12.6 2.01 26.27-4.60.02 6.88 7.42 N/A 0.0.0 FTSE Actuaries UK Conventional Gilts 1.29 12.2 1.74 26.06-4.20 4.97 6.91 7.41 N/A Over 1 Index Difference -0.24 0.1 0.27 0.21-0.40 0.0-0.0 0.01 N/A RLP/BlackRock Aquila Over 1.00% 1.00% Tracker 12.88-0.22 21.1-1.1 21.89 -. 6.11 6.68 N/A N/A 26..09 Index Linked Gilt Index FTSE Actuaries UK Index-Linked Gilts 0.8 20.8-1.2 21.88 -.91 6.28 6.60 N/A N/A Over Index Difference -0.80 0.28 0. 0.01 0.81-0.17 0.08 N/A N/A RLP/BlackRock Aquila UK All Stocks 1.00% 1.00% Tracker.74 0.8 9.7-1.6 12.02 0.2 2.9.92.2 N/A 26.11.07 Corporate Bond Index Markit iboxx Sterling Non Gilts 0.24 8. -0.97 12.06 0.4 2.1.9. N/A Overall Index Difference 0.14 0.84-0.68-0.04-0.1 0.08-0.0-0.0 N/A RLP/Fidelity Moneybuilder Income 1.2% 1.44% Active.1 0.68 7.49-0.6 12. 0.6 2.44.98 N/A N/A 29.0. BofA Merrill Lynch Euro-Sterling Index 0.12 7.9-0.8 11.82 0.8 2..76 N/A N/A Difference 0.6-0.44 0.18 0.1 0.27 0.11 0.22 N/A N/A RLP/Fidelity Strategic Bond 1.% 1.4% Active.49 0.80.0-1.84 9.70 2.66 0.7 2.8 N/A N/A 29.0. BofA Merrill Lynch Sterling Large Cap -0.6 6.11 1.07 12.72-2.67 2.1.17 N/A N/A Index Difference 1.4-2.81-2.91 -.02. -1.40-0.2 N/A N/A RLP/Invesco Perpetual Corporate Bond 1.4% 1.61% Active.7 2.9.72-0.44 6.04.02 2.2.71 N/A N/A 26..09 IA Corporate Bond 1.68 9.0-0.2 11. 2.08.46 4.71 N/A N/A Difference 0.71 -.78 0.08 -.1 2.94-0.94-1.00 N/A N/A RLP/Invesco Perpetual Global Bond 1.4% 1.62% Active 4.9-2.1 7.69 2.00.8-4.87 2.44 1.9 N/A N/A 26..09 IA Global Bonds -1.01 12..28.77 -.9 4.6.17 N/A N/A Difference -1.12-4.41-1.28 0.06-1.28-2.21-1.8 N/A N/A RLP/Invesco Perpetual Monthly 1.8% 1.67% Active 4.1.24 8.98-2.44 6.74 7.0.1 4.72 N/A N/A 29.0. Income Plus IA Strategic Bond 2.0 8.64-0.89 7.0.99.18 4.19 N/A N/A Difference 1.21 0.4-1. -0.76.1-0.0 0. N/A N/A RLP/Investec Emerging Markets Local Currency Debt 1.70% 1.86% Active 14.01 0.19 22.8 -.48-1. -17.2.8-0.76 N/A N/A 29.0. JPM GBI-EM Global Diversified Index Performance figures unavailable Difference N/A N/A N/A N/A N/A N/A N/A N/A N/A RLP/M&G Corporate Bond 1.4% 1.61% Active 4.47 1.17 7.28 0.00 9.0 2.9 2.76 4.00 N/A N/A 29.0. IA Corporate Bond 1.68 9.0-0.2 11. 2.08.46 4.71 N/A N/A Difference -0.1-2.22 0.2-1.8 0.1-0.70-0.71 N/A N/A RLP/M&G Global High Yield Bond 1.8% 1.74% Active.40 1.7 11.28-2.21.4 7.26.4 4.22 N/A N/A 29.0. IA High Yield 2.74 12.1-0.2 2.66 8.78 4.8.17 N/A N/A Difference -0.99-1.2-1.89 0.88-1.2-1.8-0.9 N/A N/A RLP/M&G Optimal Income 1.8% 1.74% Active.7.7 7.87-0.90.81 6.46.8 4.08 N/A N/A 29.0. IA Strategic Bond 2.0 8.64-0.89 7.0.99.18 4.19 N/A N/A Difference 1.4-0.77-0.01 -.69 2.47 0.20-0.11 N/A N/A RLP/M&G Strategic Corporate Bond 1.4% 1.61% Active.99 2.11 6.91-0.67 8.41.17 2.7.9 N/A N/A 29.0. IA Corporate Bond 1.68 9.0-0.2 11. 2.08.46 4.71 N/A N/A Difference 0.4-2.9-0.1-2.94 1.09-0.7-0.78 N/A N/A 4
Property Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP Property 1.00% 1.00% Active 1.9 6. 1.47 9.1 1.06 11.9.6 8.6 4.1 4.81 01.0.84 ABI UK Direct Property 7.90 0.40 7.04 1.62.18.0 7.7. 4.96 Difference -1.7 1.07 2.27 1.44 1.41 0.60 0.92 0.60-0.1 RLP/Schroder Global Cities Real 1.70% 1.88% Active 12.20-6.17 1.2-1.62 26.74-7.67 2.08 4.47 N/A N/A 26..09 Estate FTSE EPRA/NAREIT -8.66 1.11 2.8 28.1-8.0 2.6 4.86 N/A N/A Difference 2.49 0.12-4.4-1.41 0.8-0. -0.9 N/A N/A Mixed Asset Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP Adventurous Managed 1.00% 1.00% Active 7.1 1.2 18.11-1.49 12.76 7.4.6 7.9 6.77 N/A 0.09.04 Composite Benchmark 1.66 19.0-0.8 12.9 6.27 6.26 7.0 6.61 N/A Difference -0.4-0.92-0.66 0.17 1.18-0.6-0.11 0.16 N/A RLP Defensive Managed 1.00% 1.00% Active 4.17 0.48 11.18-0.26 8.66 4.47.66 4.81.62.97 0.09.96 Composite Benchmark 0.1.70-0.08 8.41 2.72.9 4.6 4.97.8 Difference -0.0 0.48-0.18 0.2 1.7 0.07 0.4 0.6 0.9 RLP Managed 1.00% 1.00% Active 6.8 1.07 16.22-1.16 12.11 7.1. 6.91 6.47 7.4 01.0.84 Composite Benchmark 1.2 16.9-0.6 11.9.20.48 6.69 6.46 7.6 Difference -0.2-0.7-0. 0.16 2.11-0.8 0.22 0.01-0.29 RLP Sustainable Diversified Trust 1.4% 1.47% Active N/A.4 17.06 N/A N/A N/A N/A N/A N/A N/A 1.11.1 IA Mixed Investment (20-60% Shares) 0.81 1.24 N/A N/A N/A N/A N/A N/A N/A Difference 2..82 N/A N/A N/A N/A N/A N/A N/A RLP/7IM AAP Adventurous 1.4% 1.8% Active.24. 17.1-7.61 14. 8.4.90 6.84 N/A N/A 08.0.12 IA Flexible Investment 2.4 19.4 -.69 11.2 4.61.62 6. N/A N/A Difference 0.88-1.92 -.92.2.7-1.72 0.1 N/A N/A RLP/7IM AAP Balanced 1.4% 1.% Active 7.0 0.47 12.00-6. 11.90.41 1.69 4.00 N/A N/A 08.0.12 IA Mixed Investment (20-60% Shares) 0.81 1.24-2.02 8.86.91.80 4.81 N/A N/A Difference -0.4-1.24-4..04-0.0-2.11-0.81 N/A N/A RLP/7IM AAP Moderately 1.4% 1.% Active 8.99 2.08 16.7-7.64 1.88 6.26.14.8 N/A N/A 08.0.12 Adventurous IA Mixed Investment (40-8% Shares) 1.62 17.6-2.86.6 6.0.08 6.7 N/A N/A Difference 0.46-1.19-4.78.2 0.21-1.94-0.4 N/A N/A RLP/7IM AAP Moderately Cautious 1.4% 1.9% Active 4.77-0.86 6.4 -.97 8.8 0.97 0.44 2.17 N/A N/A 08.0.12 IA Mixed Investment (0-% Shares) 0.9 9.90-1. 7.72 1.9 2.86.6 N/A N/A Difference -1.2 -.47-2.62 1.11-0.96-2.42-1.46 N/A N/A RLP/BlackRock Aquila Consensus 1.00% 1.00% Tracker 9.20-1.2 21.6 -.60 12.2 6.08 4.92 6.7 6.19 7.91 1.0.02 ABI Mixed Investment (40-8% Shares) 0.96 18.0 -.8 11.20.48 4.81 6.19.92 7.67 Difference -2.48.60-0.22 1.0 0.60 0.11 0.8 0.27 0.24 RLP/BMF Balanced 1.4% 2.4% Active 7.7 2.26 14.82 -.91 8.49 4.04 4. 4.9 N/A N/A 08.0.12 IA Mixed Investment (40-8% Shares) 1.62 17.6-2.86.6 6.0.08 6.7 N/A N/A Difference 0.64-2.74-1.0-2.16-2.01-0.98-1.42 N/A N/A RLP/BMF Cautious Growth 1.4% 2.22% Active.77-0.98 11.2-0.7 8.91 4.46. 4.1 N/A N/A 08.0.12 IA Mixed Investment (20-60% Shares) 0.81 1.24-2.02 8.86.91.80 4.81 N/A N/A Difference -1.79-1.72 1.27 0.0 0. -0.70-0.0 N/A N/A RLP/BMF Defensive Income 1.4% 2.0% Active 4.2-1.16 7.26-1.91 6.08.44 1.1.07 N/A N/A 08.0.12 IA Mixed Investment (0-% Shares) 0.9 9.90-1. 7.72 1.9 2.86.6 N/A N/A Difference -1. -2.64-0.6-1.64.1-1. -0.6 N/A N/A RLP/Invesco Perpetual Distribution 1.64% 1.77% Active.2-0.07 9.47-2.79 6.22 7.74 2.07 4.01 N/A N/A 29.0. IA Mixed Investment (20-60% Shares) 0.81 1.24-2.02 8.86.91.80 4.81 N/A N/A Difference -0.88 -.77-0.77-2.64.8-1.7-0.80 N/A N/A RLP/Investec Cautious Managed 1.8% 1.67% Active 6.18-2.87 16.6 -.99.1 0.6 2.84 2.46 N/A N/A 26..09 UK Consumer Price Index 0.71 0.71-1.12-1.8 0.01 0. -0.26 N/A N/A Difference -.8 1.92-2.87 4.7 0.64 2.74 2.72 N/A N/A RLP/Jupiter Merlin Balanced 1.70% 2.8% Active 8.4 1.09 17.87-1.49 1.74 1.29.48 6.22 N/A N/A 29.0. Portfolio IA Mixed Investment (40-8% Shares) 1.2 17.89 -.00.89.78. 6.6 N/A N/A Difference -0.4-0.02 1.1 2.8-4.49 0.8-0.14 N/A N/A
Mixed Asset (continued) Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP/Jupiter Merlin Growth Portfolio 1.70% 2.64% Active 9.7-0.0 20.87 -.17 16.78 2.18.27 6.84 N/A N/A 29.0. IA Flexible Investment 2. 19.87 -.82 11.6 4.26.66 6.2 N/A N/A Difference -2.6 1.00 0.6.22-2.08-0.9 0.2 N/A N/A RLP/Jupiter Merlin Income Portfolio 1.70% 2.47% Active 6.4-1.47 12.46-4.11 7.7-0.09 2.04 2.69 N/A N/A 29.0. IA Mixed Investment (20-60% Shares) 0.80 1.47-2.21 9.00.77.80 4.81 N/A N/A Difference -2.27-1.01-1.90-1.4 -.86-1.76-2.12 N/A N/A RLP/Man GLG Balanced Managed 1.4% 1.60% Active 7.66 4.4 1. -.6.14 11. 4.1 6.87 6.06 7.90 1.0.02 IA Mixed Investment (40-8% Shares) 1.2 17.89 -.00.89.78. 6.6.92 7.92 Difference 2.91-2.79-2.6-0.7.77-0.79 0.1 0.14-0.02 RLP/Man GLG Stockmarket 1.4% 1.60% Active 8.80 4. 17.40-6.9. 12.84 4.66 7.8 6. 8.1 1.0.02 Managed IA Flexible Investment 2. 19.87 -.82 11.6 4.26.66 6.2.82 8. Difference 2.00-2.47-2.7-1.21 8.8-1.00 0.86 0.28 0.18 RLP/Neptune Balanced 1.70% 1.79% Active.29 6.06 20.02-9.6 1.12 1.62 4.80.76 N/A N/A 29.0. IA Mixed Investment (40-8% Shares) 1.62 17.6-2.86.6 6.0.08 6.7 N/A N/A Difference 4.44 2.46-6.70 2.47-4.4-0.28-0.61 N/A N/A RLP/Neptune Global Alpha 1.9% 2.06% Active 14.28 1.28 22.84-17.14 29.9 1.27.47 11.4 N/A N/A 29.0. MSCI World Index 1.80 2.68 0.29 19.72 9.04.64 12.07 N/A N/A Difference 1.48-9.84-17.4.2 4.2 -.17-0. N/A N/A RLP/Newton Multi-Asset Balanced 1.4% 1.6% Active 7.77 -.22 1.46-1.7.0 1.11 2.7.81.88 N/A 21.01.08 IA Mixed Investment (40-8% Shares) 1.62 17.6-2.86.6 6.0.08 6.7.91 N/A Difference -4.84-4. 1.1-0.1-4.94-2.1-2.6-0.0 N/A RLP/Newton Multi-Asset Growth 1.4% 1.7% Active 9.88 0.69 14.64 2.77 16.78 7.72.8 8. 6.76 N/A 21.01.08 IA Flexible Investment 2.4 19.4 -.69 11.2 4.61.62 6..80 N/A Difference -1.76-4.79 6.46.46.11 0.2 1.80 0.96 N/A RLP/Rathbone Enhanced Growth 1.4% 2.2% Active 9.48 4.02 21.6-4.96 16.2-0. 6.1 6.81 N/A N/A 08.0.12 Composite Benchmark.1.80.9.46.06.01 4.71 N/A N/A Difference -1.29 1.76-8.91 12.86 -.61 1.0 2. N/A N/A RLP/Rathbone Strategic Growth 1.4% 2.29% Active.79 2.19 14.27-1.16 9.78.9 4.89.66 N/A N/A 08.0.12 UK Consumer Price Index + %..81 1.97 1.0.09. 2.78 N/A N/A Difference -1.4.46 -.1 8.28 0.86 1.79 2.88 N/A N/A RLP/Rathbone Total Return 1.4% 2.14% Active.00-0.8.69 0.18 7.48 0.68 1.6 2.8 N/A N/A 08.0.12 LIBOR GBP 6 Months + 2% Index 1.0 1.11 1.2 1.20 1.12 1.14 1.1 N/A N/A Difference -1.90 4.8-1.07 6.28-0.44 0.49 1.4 N/A N/A RLP/Schroder Managed Balanced 1.% 1.4% Active 7.64 1.97 19.04 -.20.21.79 4.79 6.0 6.17 8.04 29.06.98 IA Mixed Investment (40-8% Shares) 1.62 17.6-2.86.6 6.0.08 6.7.91 7.99 Difference 0. 1.48-2.4-0.44-0.26-0.29-0.2 0.26 0.0 RLP/Schroder MM Diversity 1.% 2.12% Active.49 -.9 7.89-4.1 4.06 4.92-0. 1.6 N/A N/A 08.0.12 UK Consumer Price Index 0.94 0.94-0.89-1. 0.24 0. -0.0 N/A N/A Difference -4.89 6.9 -.62.41 4.68-0.68 1.9 N/A N/A RLP/Schroder MM Diversity 1.% 2.16% Active 6.06 -.28 16.69-4.14 6.84 7.7 2.66 4.48 N/A N/A 08.0.12 Balanced IA Mixed Investment (40-8% Shares) 1.62 17.6-2.86.6 6.0.08 6.7 N/A N/A Difference -4.90-0.87-1.28 -.81 1.68-2.42-1.89 N/A N/A RLP/Schroder MM Diversity Tactical 1.% 2.18% Active.78 -.4 16.4-4. 9.04 6. 2.0 4.4 N/A N/A 08.0.12 Composite Benchmark 0.2 20.28 -.16 8.44.81.0 6.02 N/A N/A Difference -.9 -.8-1.17 0.60 0.4-2.80-1.48 N/A N/A RLP/UBS Global Allocation 1.40% 1.47% Active 8. 1.0 20.29-7.70 11.9.8 4.06.8 7.06 N/A 21.01.08 IA Mixed Investment (40-8% Shares) 1.62 17.6-2.86.6 6.0.08 6.7.91 N/A Difference -0.12 2.7-4.84 1.28-0.67-1.02-0.2 1.1 N/A 6
UK Equity Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP Equity Income 1.00% 1.00% Active 9.08 1.20 17.09-1.8 8.8 22.48.2 9.21 N/A N/A 29.0. FTSE All Share Index 0.24 20.74-4.88.1 7.7 4.80.2 N/A N/A Difference 0.96 -.6.0.07 14.7 0.2.69 N/A N/A RLP Sustainable Leaders 1.00% 1.00% Active 9.2 1.7 18.8 -.14 6.. 4. 6.07 6.06 7.88 01.11.99 FTSE All Share Index 0.24 20.74-4.88.1 7.7 4.80.2.60 8.19 Difference 1.49-2.6-0.26 1.04 2.60-0.27 0. 0.46-0.1 RLP UK Equity 1.00% 1.00% Active 9.29 2.04 1.44-9.49 7.76 16.82 1.6.69.78 9.17 01.0.84 FTSE All Share Index 0.24 20.74-4.88.1 7.7 4.80.2.60 8.19 Difference 1.80-7.0-4.61 2.2 9.09 -.24 0.17 0.18 0.98 RLP UK Mid Cap 1.00% 1.00% Active 11.86 12.17 8.6-4.11.0 27.9.2 8.9 9.69 12.89 01.11.99 FTSE 20 Mid Index 4.29 14.11 0.68 6.81 18.71 6.21 8.72 8.82 1.1 Difference 7.88 -.48-4.79 -.76 8.68-0.89 0.21 0.87-0.26 RLP UK Opportunities 1.00% 1.00% Active 12.08 12.8 11.6 4.09.9 2.60 9.27 12.69 N/A N/A 29.0. FTSE All Share Index 1.19 18. 4.81 0.17 0.96 7.92.2 N/A N/A Difference 11.9-7.19-0.72.76 -.6 1. 2.17 N/A N/A RLP UK Smaller Companies 1.00% 1.00% Active 9.76-1.6 1.76-4. 6.17 16.98 2.8.91 N/A N/A 29.0. FTSE Small Cap (ex Inv Trusts) Index 0.24 20.74-4.88.1 7.7 4.80.2 N/A N/A Difference -1.87-6.98 0.78 0.66 9.2-2.42 0.9 N/A N/A RLP/Baillie Gifford UK Equity 1.0% 1.0% Active 11.21.76 19.29 -.98 7.12 9.70.8 6.86 7. N/A 12.01.08 FTSE All Share Index -0.78 20.2-6.4 6.46 7.0.76 4.99.09 N/A Difference 6.4-1.0 0.4 0.66 2.40 2.09 1.87 2.46 N/A RLP/BlackRock Aquila UK Equity 1.00% 1.00% Tracker.4-0.2 21.0-6.08 7.18 8.4 4.28.66.66 8.01 1.0.02 Index FTSE All Share Index -0.28 20.9 -.96 7.00 7.84 4.28.2.62 8.01 Difference 0.0 0.12-0.12 0.18 0.0 0.00 0.14 0.04 0.00 RLP/BlackRock UK Equity 1.% 1.7% Active 9.7.01 21. -2.4 6.69 9.17 6.87 7.29 7.72 N/A 21.01.08 FTSE All Share Index -0.11 20.2 -.21.1 7. 4.44.1.2 N/A Difference.12 1.0 2.87 1.4 1.82 2.4 2.14 2.49 N/A RLP/Dimensional UK Core Equity 1.12% 1.20% Tracker 9.28 1.1 19.2-7.44 N/A N/A.82 N/A N/A N/A 06.0.1 FTSE All-Share Index 0.12 20.9-4.99 N/A N/A 4.68 N/A N/A N/A Difference 1.0-1.07-2.4 N/A N/A -0.86 N/A N/A N/A RLP/Fidelity UK Select 1.70% 1.90% Active.7-1. 14.61 -.7.78.86 2.92.0.6 7. 29.06.98 FTSE All Share Index -0.46 19.90 -.4 4.78 6.97 4.07 4.79 4.86 7.4 Difference -0.89 -.29 1.97 1.00.89-1.1 0.24 0.0-0.08 RLP/Invesco Perpetual High Income 1.70% 1.87% Active 8.6-6.82.16-1. 1.94 11.97 0..21 N/A N/A 28.11.11 FTSE All Share Index -0.46 19.90 -.4 4.78 6.97 4.07 4.79 N/A N/A Difference -6.6-9.74.99 9.16.00 -.72 0.42 N/A N/A RLP/Investec UK Special Situations 1.70% 1.80% Active 9.84 -.48 18.41-6.88.07 11.7 2.09 4.12 N/A N/A 28.11.11 FTSE All Share Index -0.46 19.90 -.4 4.78 6.97 4.07 4.79 N/A N/A Difference -.02-1.49-1.4-1.71 4.60-1.98-0.67 N/A N/A RLP/M&G Recovery 1.70% 1.86% Active 11. -.16 28.96-11.84-6.86 9.29.2 2.0 N/A N/A 29.0. FTSE All Share Index -0.46 19.90 -.4 4.78 6.97 4.07 4.79 N/A N/A Difference -2.70 9.06-6.0-11.64 2.2-0.82-2.49 N/A N/A RLP/Schroder Income Maximiser 1.70% 1.86% Active 9.7.48 18.49-8.27 8.9 11.28.99 6. N/A N/A 29.0. FTSE All Share Index -0.46 19.90 -.4 4.78 6.97 4.07 4.79 N/A N/A Difference.94-1.41-2.7.81 4.1-0.08 1.4 N/A N/A RLP UK Equity Core Plus 1.70% 1.88% Active.8-2.19 20.1-9. -1.69 11.2 2.22.17.01 N/A 1.0.06 (Schroder Core UK Equity) 4 FTSE All Share Index -0.46 19.90 -.4 4.78 6.97 4.07 4.79 4.86 N/A Difference -1.7 0.2 -.6-6.47 4. -1.8-1.62-1.8 N/A RLP/Schroder MM UK Growth 1.% 2.2% Active.09 -.74 18.44-6.8 2.8 14.19 2.0 4.2 N/A N/A 08.0.12 FTSE All Share Index -0.11 20.2 -.21.1 7. 4.44.1 N/A N/A Difference -.6-1.88-1.62-2.0 6.84-2.41-0.6 N/A N/A RLP UK Equity Core Plus 1.% 1.8% Active 11.60 0.81 22.49-6.77.24 9.04 4.80.72 6.16 8.2 1.0.02 (Close Teams UK Equities (1%)) FTSE All Share Index -0.87 22.26-7.24 6.46 7..97.17.18 7.8 Difference 1.68 0.2 0.47-1.22 1.49 0.8 0. 0.98 0.67 RLP UK Equity Core Plus 1.60% 1.6% Active 11.94 2.44 22.4-6.6...40.99 6.68 8.7 1.0.02 (Close Teams UK Equities (2%)) FTSE All Share Index -1.11 21.96-7.47 6.20 7.28.71 4.91 4.92 7.1 Difference. 0.8 0.91-2.67.0 1.69 1.08 1.76 1.26 RLP UK Equity Core Plus 1.70% 1.87% Active 9.8 -.16 19.24 -.61 7.72 1.80 2.91.96 6.21 8.9 29.06.98 (Schroder UK Equity) FTSE All Share Index -0.46 19.90 -.4 4.78 6.97 4.07 4.79 4.86 7.4 Difference -2.70-0.66-0.07 2.94 6.8-1.16 1.17 1. 1.16 7
UK Equity (continued) Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP UK Equity Specialist 1.70% 1.76% Active 9.26-2.02 11.7 0.8-0.96 16.1.21 4.81 6.2 N/A 1.0.06 (Artemis UK Special Situations) FTSE All Share Index -0.46 19.90 -.4 4.78 6.97 4.07 4.79 4.86 N/A Difference -1.6-8. 6.12 -.74 9.16-0.86 0.02 1.9 N/A RLP UK Equity Specialist 1.60% 1.76% Active 11.09 0.97 20.40-8.1 6.22 21.1.61 7.49 7.20.8 29.06.98 (Invesco Perpetual UK Growth) FTSE All Share Index -0.6 20.02 -.4 4.88 7.08 4.18 4.89 4.97 7.4 Difference 1. 0.8 -.06 1.4 14.4-0.7 2.60 2.2 2.84 RLP UK Equity Specialist 1.70% 1.86% Active.1-2.82 14.99-2.88.8 14. 2.76.1 6.98 N/A 1.0.06 (Schroder UK Alpha Plus) FTSE All Share Index -0.46 19.90 -.4 4.78 6.97 4.07 4.79 4.86 N/A Difference -2.6-4.91 2.66-0.9 7.1-1.1 0.6 2.12 N/A RLP UK Income Core Plus 1.70% 1.74% Active 8..0 1.42-2.97 9.6 9.79.04 6.87 7. N/A 1.0.06 (Artemis Income) FTSE 0 Higher Yield Index -2.84 24.6-8.72 2. 6.9.7.82 4.0 N/A Difference 6.4-9.14.7 7.46 2.84 1.67.0.0 N/A RLP UK Income Specialist 1.0% 1.47% Active 8.81-7.9 12.99 0.00 7.9 12.8 1.2 4.77 6.1 N/A 1.0.06 (Fidelity Moneybuilder Dividend) 4 FTSE 0 Higher Yield Index -2.4 2.06-8.6 2.1 7.8.78 4.24 4.46 N/A Difference -.0-12.07 8.6.08.47-2.46 0. 2.0 N/A RLP UK Mid Cap Specialist 1.70% 1.77% Active 12.6 14.40 8.46 1.20 6.72 22.17 7.88.6 7.76 N/A 1.0.06 (Franklin UK Mid Cap) 4 FTSE 20 Mid Index.6 1.1-0.02 6.07 17.89.47 7.96 8.06 N/A Difference.84-4.8 1.22 0.6 4.28 2.41 2.40-0.0 N/A RLP UK Small Cap Specialist 1.70% 1.79% Active 1.4 14.2 6.29 9.17-9.08 46.98 9.87 12.12 1.68 N/A 1.0.06 (Investec UK Smaller Companies) FTSE Small Cap (ex Inv Trusts) Index 0.48 17.72 4.07-0. 0.0 7.17 9.7 7.24 N/A Difference 1.84-11.4. -8. 16.9 2.70 2.7 6.44 N/A US Equity Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP American 1.00% 1.00% Tracker 12.80-1.96.87 1.4 26.9 9.28.00 1.0 11.6 8.28 01.0.84 FTSE USA Index 0.4 4.71 1.61 27.8 9.4 11.19 1.90 12.9 9.8 Difference -2.9-0.84-0.16-0.4-0.26-1.19-0.8-0.74-1.7 RLP/BlackRock Aquila US Equity 1.00% 1.00% Tracker 1.02-1.1 4.88 1.48 27.42 9.60.60 1.6 12.04 9.49 1.0.02 Index FTSE USA Index 0.4 4.71 1.61 27.8 9.4 11.19 1.90 12.9 9.8 Difference -1.8 0.17-0.1 0.04 0.06-0.9-0.4-0. -0.6 RLP/Legg Mason IF Royce US 1.70% 1.94% Active 14.80 -.70 7.4-6.81 8.47.8 7.26 8.21 N/A N/A 29.0. Smaller Companies Russell 2000 Index -2.0 42.6-8.7 19.48 11.84 8.8 11. N/A N/A Difference -1.67 -.09 1.6-11.01-1.01-1.2 -.12 N/A N/A RLP/Neptune US Opportunities 1.70% 1.77% Active 1.74 4.91 2.8-1.26 2.67.64 6.4.4 N/A N/A 28.11.11 S&P 00 Index -0. 2.41. 24.47 9.12.97 1.17 N/A N/A Difference.01 0.17-16.61-0.80 1.2-4.2-2.6 N/A N/A RLP/Schroder US Mid Cap 1.70% 1.86% Active 11.16-6.28 8.48 0.24 28.7.20 9.16 1.0 N/A N/A 26..09 Russell 200 Index -1.7 7. -.89 21. 11.04 8. 11.41 N/A N/A Difference -4.71 1.1 6.1 7.22-0.84 0.81 1.62 N/A N/A RLP US Core Plus (Old Mutual 1.70% 1.90% Active 12.01-2.2 29.9-6.4 2.72 11.0.88.28 8.41 N/A 1.0.06 North American Equity) 4 S&P 00 Index -0. 2.41. 24.47 9.12.97 1.17 11.46 N/A Difference -2.1-2.48-9.89-0.7 1.9 -.09-2.89 -.0 N/A RLP US Specialist ( JPMorgan US) 1.70% 1.88% Active 1.24 0.89 29.41-0.47 28.4 8.2 9.12 12.7 11.9 N/A 1.0.06 S&P 00 Index -0. 2.41. 24.47 9.12.97 1.17 11.46 N/A Difference 0.99 -.00 -.82 4.07-0.87-1.8-0.60 0.1 N/A 8
European Equity Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP European 1.00% 1.00% Active 11.1.21 26. -6.88 6.88 1.48 6.74 8.46 6. 9.90 01.0.84 FTSE Europe ex UK Index.22 26.61 -.12 6.41 16.09 7.42 8.90.2 9.82 Difference -0.01-0.06-1.76 0.47-0.61-0.68-0.44 1.21 0.08 RLP/BlackRock Aquila European 1.00% 1.00% Tracker 12.9 2.6 26.8-7.11 8.88 17.24 6. 9.07.17 9.29 1.0.02 Equity Index FTSE AW Developed Europe ex UK 2.98 27.0-6.81 8.9 16.67 6.8 9.1.0 9.69 Difference -0. -0.22-0.0-0.07 0.7-0.0-0.08-0. -0.40 RLP/Schroder European Opportunities 1.70% 1.87% Active 11.16 2.48 20.1-4.49 2.9 28.2.9 9.21 N/A N/A 28.11.11 FTSE World Europe Ex UK Index 2.0 2.7 -.78.66 1.28 6.68 8.14 N/A N/A Difference -0.02 -.42 1.29-2.7 12.9-1.09 1.07 N/A N/A RLP/Jupiter European Special 1.70% 1.98% Active.28 1.8 19.84-0.61 6.66 1.8 6.6 8.00 N/A N/A 28.11.11 Situations FTSE World Europe ex UK Index 2.0 2.7 -.78.66 1.28 6.68 8.14 N/A N/A Difference -0.6 -.89.17 1.00-1.70-0.0-0.14 N/A N/A RLP Europe Core Plus 1.9% 2.16% Active.81.4 20.29-2.1 8.9.9 7.46 8.44.64 N/A 1.0.06 (Fidelity European Blended) FTSE Europe ex UK Index 2.0 2.7 -.78.66 1.28 6.68 8.14 4.8 N/A Difference 2.9 -.44.6.27-4. 0.78 0.0 1.06 N/A RLP Europe Specialist (Columbia 1.6% 1.7% Active 1. 8.0 49.0-12.91-6.19 29.02 12.01 11.21 4. N/A 1.0.06 Threadneedle European Select) 4 FTSE Europe ex UK Index 2. 2.79 -.74.72 1.4 6.7 8.19 4.64 N/A Difference.7 2.26-7.17-11.91 1.68.28.02-0.4 N/A Asian Equity Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP Far East (ex Japan) 1.00% 1.00% Tracker 14.11 1.60.2-6.7 11.9-6.64 8.6.9 7.8 11.96 1.0.02 FTSE Asia Pacific (ex Japan) Index 2.8.18-6.4 11.6-6.76 9.18 6.26 7.90 12.1 Difference -1.2 0.14-0.41-0.04 0.12-0. -0.1-0.2-0.17 RLP Japan 1.00% 1.00% Tracker 12.0.7 0.97-4.90 2.0 -.29 9.48 9.7 8.2 7.29 1.0.02 FTSE Japan Index 6.46 1.47-4.22 2.88-2.4.2.46 7.21 7.6 Difference -1.09-0.0-0.68-0.8-0.7-0.77-0.71 1.11-0.6 RLP Pacific 1.00% 1.00% Tracker 12.0.47 2.79-8.6 18.66-4.70 7.89 7.27 7.88 9.2 01.0.84 FTSE Asia Pacific Index 4.68.27 -.2 18.7-4.81 9.74 8.2 7.6 9.68 Difference -1.21-0.48 -.1 0.09 0.11-1.8-1.0 0.2-0.6 RLP/BlackRock Aquila Japanese 1.00% 1.00% Tracker 12.96.14 1.68 -.7 27.62 -.16 9.4 9.61 6.66 N/A 21.01.08 Equity Index FTSE Japan Index 4.1 2.98 -.44 28.94 -.71 9..27 6.88 N/A Difference 0.6-1.0-0.1-1.2-1.4-0.19-0.66-0.22 N/A RLP/BlackRock Aquila Pacific Rim 1.00% 1.00% Tracker 1.4 2.17 8.07-7.27 9.81-8.48 9.6.62 7.71 N/A 21.01.08 Equity Index FTSE World Asia Pacific (ex Japan) 1.0 8.7-7.1 9.98-7.88 9.11.64 7.88 N/A Index Difference 1.14-0.66 0.04-0.17-0.60 0.2-0.02-0.17 N/A RLP/Fidelity Asia 1.70% 1.92% Active 14.7 1.66.0-6.0 27.11-7.86 1.7 11.40 N/A N/A 28.11.11 MSCI AC Asia Pacific Ex Japan Index 6.06.94-9.97 17.69-8.07 8.4 6.71 N/A N/A Difference 9.60 1.6.47 9.42 0.21.0 4.69 N/A N/A RLP Asia Pacific Core Plus (Stewart 1.80% 1.8% Active 12.9-0.67 24.86 -.4 0.01-6.9.49 7.26 N/A N/A 26..09 Investors Asia Pacific Leaders) MSCI AC Asia (ex Japan) Index.9.80 -.06 17.7-8.16 8.4 6.60 N/A N/A Difference -6.62-8.94 4.72 12.44 1.21-2.94 0.66 N/A N/A RLP Asia Pacific Core Plus (Invesco 1.70% 1.90% Active 16.4 8.60 49.1-6. 20.20-4.41 14.80 11.70 11.16 N/A 1.0.06 Perpetual Asian) MSCI AC Asia (ex Japan) Index 6.06.94-9.97 17.69-8.07 8.4 6.71 7.1 N/A Difference 2.4 1.21.42 2.1.66 6.26 4.99.8 N/A RLP Japan Core Plus (Schroder Tokyo) 1.70% 1.86% Active 12.26 4.81.11-4.90 26.6-2.19.42.77 9.1 N/A 1.0.06 Topix Index 6.9 0.7 -.8 2.91 -.07.4.04 6.88 N/A Difference -1.8 4.8-1.2 2.72 0.88 0.08 0.7 2.2 N/A RLP Japan Specialist (Invesco 1.70% 1.88% Active 12.1 1.08 29.1-0.7 22.69-1.07 9.01 9.47.76 N/A 1.0.06 Perpetual Japan) 4 Topix Index 6.9 0.7 -.8 2.91 -.07.4.04 6.88 N/A Difference -.1-1.8 2.6-1.22 2.00-1. -0.7-1.12 N/A 9
Global Equity Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP Global Equity 1.00% 1.00% Active 9.81 0.60 2.86 -.40 1.48 6.99 6.9 8.22 7.2 8.7 1.0.02 Composite Benchmark 1.08 26.7-2. 12.0 7.27 7.67 8.4 7.72 9.28 Difference -0.48-0.89-0.8 1.4-0.28-0.74-0.2-0.47-0. RLP Global Managed 1.00% 1.00% Active 9.8 1.22 24.01 -.61 12.70 9.1 6. 8.27 7.7 8.41 01.0.84 Composite Benchmark 0.88 26.2-2.9 11.2 7.29 7.1 8. 7. 9.0 Difference 0.4-2.22-0.66 1.8 1.84-0.76 0.17 0.22-0.62 RLP Worldwide 1.00% 1.00% Active.89 0.00 29.91-1.8 19. 7. 8.4.0 8.91 8.77 01.06.89 FTSE World Index 1. 1.8-0.99 17.61 6.6 9.76.6 9.00 9.7 Difference -1. -1.67-0.86 1.74 0.77-1. -0. -0.09-0.96 RLP/Baillie Gifford Worldwide Equity 1.0% 1.1% Active.61 8.80 2.9-1.18 11.77 8.4.62.4 9.11 N/A 21.01.08 (60:40) Composite Benchmark 0.71 27.09 -.64.49 4.82 6.49 6.9 6.90 N/A Difference 8.09-1.16 4.46 1.28.72 4.1.0 2.21 N/A RLP/BlackRock Aquila Global Blend 1.00% 1.00% Tracker.74-0.0 26.2-4.21 1.8 7.82 6.1 8.1 N/A N/A 12.01.09 Composite Benchmark 1.8 26.84-4.1 1.04 7.0 7.22 8.1 N/A N/A Difference -1.68-0.2-0.06 0.4 0.77-0.71-0.16 N/A N/A RLP/BlackRock Aquila Global Equity 1.00% 1.00% Tracker.86 0.9 26.72 -.2 1. 6.84 6.9 7.96 7.1 N/A 0.0.0 Index (0:0) Composite Benchmark 1.02 27.20-4.7 12.84 7.44 7.11 8.29 7.78 N/A Difference -0.07-0.48-0.9 0.1-0.60-0.2-0. -0.6 N/A RLP/BlackRock Aquila Global Equity 1.00% 1.00% Tracker.97 0.27 2.7 -.11 11.60 7.6 6.11 7.49 6.78 8.78 1.0.02 Index (60:40) Composite Benchmark 0.77 2.96-4.6 11.66 7.8 6.6 7.76 7.8 9.0 Difference -0.0-0.9-0.46-0.06 0.07-0.4-0.27-0.60-0.2 RLP/BlackRock Aquila World (ex UK) 1.00% 1.00% Tracker 12.20-0.4.20-1.67 21.61 7.0 9.28 11.18 9.18 N/A 21.01.08 Equity Index FTSE AW ex UK (Developed) 0.91.27-1.64 21.7 7.27 9.77 11.1 9.61 N/A Difference -1.2-0.07-0.0 0.04-0.24-0.49-0. -0.4 N/A RLP/Dimensional Global Core 1.2% 1.% Tracker 11.29-1.2 1.4-1.4 N/A N/A 8.4 N/A N/A N/A 06.0.1 Equity MSCI World Index 0. 1.04-0.96 N/A N/A 9.26 N/A N/A N/A Difference -2.0 0.41-0.49 N/A N/A -0.81 N/A N/A N/A RLP/Dimensional Global Targeted 1.4% 1.% Tracker 12.02 -.20 7.81-4.02 N/A N/A 8.8 N/A N/A N/A 06.0.1 Value MSCI World SMID Value Index 2.28 1.16-2.16 N/A N/A 9.48 N/A N/A N/A Difference -.48 6.6-1.86 N/A N/A -0.90 N/A N/A N/A RLP/Fidelity Special Situations 1.70% 1.89% Active.27. 27. 0.6 1.4 11.22 9.80 11.19 8.12 N/A 18.09.06 Blended Composite Benchmark -0.26 2.44 -.27 11.49 7.04 6.6 7.6 6.8 N/A Difference.9 1.89.92.96 4.18.24.6 1.29 N/A RLP/First State Global Listed 1.70% 1.78% Active 12.97-9.4 27.4. 18.12 7.78 6.76 9.1 N/A N/A 28.11.11 Infrastructure FTSE Global Core Infrastructure 0/0-7.9 2.1.79 19.97-1.16 6.1 7.4 N/A N/A Difference -1.7 2.12 1.6-1.8 8.94 0.4 1.81 N/A N/A RLP/HSBC Amanah Global Equity 1.00% 1.2% Tracker 1.1-1.1 28.66 0.4 21.7 6.04 8.1..44 N/A 21.01.08 Index Dow Jones Islamic Titans 0 Index -0.16 26.27 0.29 18.4 4.99 8.1 9.4 8.04 N/A Difference -0.97 2.9 0.16.41 1.0 0.8 1.08 2.40 N/A RLP/Jupiter Ecology 1.70% 1.7% Active.17 1.6 22.6-1.74 9. 11.84 6.96 8.40 N/A N/A 29.0. FTSE World Index 0.82 0.66-1.69 16.79.82 9.00 9.86 N/A N/A Difference 0.81-8. -0.0-7.44 6.02-2.04-1.46 N/A N/A RLP/Jupiter Merlin Worldwide 1.70% 2.7% Active.88 0.0 2.8-4.68 19.20-2.67.86 6.9 N/A N/A 29.0. Portfolio IA Global 2.62 29.90-2.79 16.98 6.86 9.02.12 N/A N/A Difference -2.12-6.07-1.89 2.22-9. -.16 -. N/A N/A RLP/M&G Global Themes 1.70% 1.88% Active 12.24-0.7 0.86 -.6 6.4-6.92 8.00 4.2 N/A N/A 29.0. MSCI AC World Index 1.17 0.7-2. 17.01 4.92 8.90 9.6 N/A N/A Difference -1.4 0.1-1.0 -.67-11.84-0.90 -.1 N/A N/A RLP/M&G Global Dividend 1.70% 1.87% Active 12.84-1.81 4.9-4.24 6.74 4.9 8.2 7.28 N/A N/A 18.02.1 MSCI AC World Index 1.17 0.7-2. 17.01 4.92 8.90 9.6 N/A N/A Difference -2.98 4.20-1.91 -.27 0.0-0.6-2.7 N/A N/A RLP/M&G Global Leaders 1.70% 1.87% Active 12.19 4.7 4.4-4.48 9.1 6.0.22 9.28 N/A N/A 28.11.11 MSCI AC World Index 1.17 0.7-2. 17.01 4.92 8.90 9.6 N/A N/A Difference.20.61-2.1-7.0 1.8 1.2-0.7 N/A N/A RLP/Neptune Global Equity 1.70% 1.79% Active 1.28 11.9 24.88-1.20 22.8 2.67 6.66 8.8 N/A N/A 29.0. MSCI World Index 0.6 0.00-2.87 16.9 4.7 8.1 9.07 N/A N/A Difference 11.0 -.12 -. 6.19-1.70-1.6-0.24 N/A N/A
Global Equity (continued) Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP/Newton Global Income 1.70% 1.81% Active 11.02 -.8 2.66.9 1.7 2.44 9. 8.90 N/A N/A 29.0. FTSE World Index 0.82 0.66-1.69 16.79.82 9.00 9.86 N/A N/A Difference -4.67-7.00 12.28 -.06 -.8 0. -0.96 N/A N/A RLP/Sarasin Food & Agriculture Opportunities 1.70% 1.94% Active.89 7.1 24.2 1.2 11.19-8.48.64 6.6 N/A N/A 18.02.1 Not Available Performance figures unavailable Difference N/A N/A N/A N/A N/A N/A N/A N/A N/A RLP/Schroder MM International 1.% 2.28% Active 9.89-2.2 29.2-1.27 1.97 7.0 7.66 9.24 N/A N/A 08.0.12 FTSE All World (ex UK) Index 1.68 2.04-1.1 18.6.2 9.7.6 N/A N/A Difference -.9-2.72 0.24-2.66 2.18-2.09-1.2 N/A N/A RLP/UBS Global Blend (0:0) 1.60% 1.84% Active 11.6 2.02 2.17-8.21 7.94 11.1 7.6 8.22 9.02 N/A 21.01.08 Composite Benchmark 0.09 2.88-2.9 11.88 7.41 6.94 8.00 7.21 N/A Difference 1.9 6.29 -.28 -.94.74 0.42 0.22 1.81 N/A RLP Global Blend Core Plus 1.4% 2.24% Active 9.92 2.84 21.90-2.9.1 11.81 6.88 8.49 6.94 8.22 1.0.02 (Rathbone Global Alpha) Composite Benchmark 0.62 2.9 -.21.87 6.84 7.04 7.7 7.09 8.7 Difference 2.22-4.0 0.62-0.74 4.97-0.16 0.74-0.1-0.1 RLP Global Managed Equity Specialist 1.60% 1.77% Active 11.81 4.11 1.2-7.2 12.0 1.8 8.18.1 8.7.1 29.06.98 (Invesco Perpetual Global Equity) Composite Benchmark 0.40 2.41 -..70 6.68 6.76 7.2 6.89 8.4 Difference.71 6.11-4.17 1.80 7.17 1.42 2.6 1.84 1.77 RLP Global Managed Equity Specialist 1.70% 1.82% Active 11.76 6.24 0.66-6.08 20.4 12. 9.24 12.01 8.97 N/A 1.0.06 (Investec Global Strategic Equity) Composite Benchmark 0.0 2.29 -.4.9 6.8 6.6 7.41 6.78 N/A Difference.94.7-2.6 9.84.7 2.9 4.60 2.19 N/A Emerging Market Equity Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP/BlackRock Emerging Markets 1.1% 1.21% Tracker 16.78 6.01 4.80 -. 1.97-12.17 8.2.0 N/A N/A 18.02.1 Tracker FTSE Custom Emerging Net Midday 6.0.0 -.1 1.0-12.21 8.77.4 N/A N/A Index Difference -0.49-0.2-0.04-1. 0.04-0.2-0.8 N/A N/A RLP/Dimensional Emerging Markets 1.0% 1.64% Tracker 16.6.8.87-8.2 N/A N/A 9.64 N/A N/A N/A 06.0.1 Core Equity MSCI Emerging Markets Index..22 -.16 N/A N/A 9.62 N/A N/A N/A Difference -4.2 2.6 1.84 N/A N/A 0.02 N/A N/A N/A RLP/Fidelity Emerging Europe, 1.70% 2.08% Active 1.71.12 27.69 -.0 12.29-8.2 8.04.8 N/A N/A 29.0. Middle East and Africa MSCI Emerging EMEA NR Index 4.97 2.02 -.1 -.1-11.88.01-0.2 N/A N/A Difference.1 4.67 0.01 1.42.6.0.61 N/A N/A RLP/Henderson China Opportunities 1.70% 1.9% Active 18.01 22. 9.24-9.2 1.04 4.18 1.67 16.14 N/A N/A 29.0. MSCI Zhong Hua Index 16.9 4.1-1.96.99-7.86.60.81 N/A N/A Difference.8 4.7 4.71-2.9 12.04.07. N/A N/A RLP/JPMorgan Emerging Europe 1.70% 1.88% Active 1..47 4.2-1.08 -.4-21.41 11.18-0.66 N/A N/A 29.0. Equity MSCI Emerging Markets Europe Index 7.08 26.9-2.24-1.22-17.4 9.8-1.47 N/A N/A Difference -.61 7.7 1.16 4.77-4.07 1. 0.81 N/A N/A RLP/Jupiter India 1.70% 2.04% Active 22.60-1.40 2. -. 8.64-6.00 7.61 1.19 N/A N/A 29.0. MSCI India Index -.9.80-11.82.27-4.42 4.4 7.74 N/A N/A Difference -.01 18. 6.29 2.7-1.8.16.4 N/A N/A RLP/Columbia Threadneedle Latin 1.70% 1.90% Active 24. 0.7.71 -.42-11.9-24. 6.98-4.0 N/A N/A 29.0. America MSCI Emerging Markets Latin America 4.87 9.7-7.46-12.4-22.64.67-1.68 N/A N/A /40 Index Difference -4.14-4.02-2.96 0.0-1.89 -.69-2. N/A N/A RLP Emerging Markets Core Plus 1.70% 1.88% Active 1.92.60 8.18 -.24 12.62-12.80 11. 6.14 N/A N/A 28.04.08 ( JPM Emerging Markets) 4 MSCI Emerging Markets Index 9.87 2.9 -.4 11.28-11.41 9.40.24 N/A N/A Difference 0.7.2 0. 1.4-1.9 1.70 0.90 N/A N/A RLP Emerging Markets Specialist 1.80% 1.87% Active 14.14 0.27 28.40-2.99 12.6-7.29 7.69.44 N/A N/A 28.04.08 (Stewart Investors Global Emerging Markets Leaders) 6 MSCI Emerging Markets Index 9.76 2.82 -.4 11.17-11.0 9.29.14 N/A N/A Difference -9.49-4.42 7.44 1.9 4.21-1.60 0.0 N/A N/A 11
Specialist Details Percentage Change Compound Annual Growth Rate (%) Name 1.0.18 1.0.1 1 RLP Absolute Return Government 1.00% 1.00% Active N/A -0.2-0.42 N/A N/A N/A N/A N/A N/A N/A 29.06.1 Bond Overnight Cash Rate (SONIA) -0.68-0.70 N/A N/A N/A N/A N/A N/A N/A Difference 0.6 0.28 N/A N/A N/A N/A N/A N/A N/A RLP Cash Plus 1.00% 1.00% Active 0.20-0.42-0.21-0.21-0. -0. -0.28-0.21 N/A N/A 28.11.11 LIBID GBP 7 Days Index -0.66-0.67-0.2-0.2-0.2-0.62-0.8 N/A N/A Difference 0.24 0.46 0.1 0.42 0.42 0.4 0.7 N/A N/A RLP Commodity 1.00% 1.00% Tracker N/A -9.6 N/A N/A N/A N/A N/A N/A N/A N/A 1.06.16 Bloomberg Commodity Total Return Index (USD) -8.47 N/A N/A N/A N/A N/A N/A N/A N/A Difference -1.16 N/A N/A N/A N/A N/A N/A N/A N/A RLP Enhanced Cash Plus 1.00% 1.00% Active N/A -0.1 N/A N/A N/A N/A N/A N/A N/A N/A 1.06.16 LIBID GBP 7 Days Index -0.66 N/A N/A N/A N/A N/A N/A N/A N/A Difference 0. N/A N/A N/A N/A N/A N/A N/A N/A RLP/BlackRock Gold and General 1.8% 2.01% Active 6.6-2.00 1.4 1.09-9.4-4.79 4.60-7. N/A N/A 26..09 FTSE Gold Mines Index -16.80 29.0 22.4-14.62-42.89 9.1-8.2 N/A N/A Difference -6.20 2.8-9.2.08 8. -4.91 0.97 N/A N/A RLP/Columbia Threadneedle 1.8% 1.4% Active 4.18-1.2-6.49-6.9 2.80 0.87-4.8-2.22 N/A N/A 29.0. Absolute Return Bond LIBOR GBP Months Index -1.16-1.1-1.00-1.02-1.06-1. -1.07 N/A N/A Difference -0.16 -.6 -.9.82 1.9 -.7-1.1 N/A N/A RLP/Investec Global Energy 1.70% 1.8% Active 20.99-14.9 26.24-20.9-17.0 0.1-4.97-6.7 N/A N/A 29.0. MSCI World/Energy Index -7.64 0.29-1.46-7.26 2.79 1.6-0.1 N/A N/A Difference -6.7-4.0-7.1 -.24-2.28-6. -6.42 N/A N/A RLP/JPMorgan Global Macro Balanced 1.8% 1.76% Active 4.4 7.7-2.49-0.82 12.6 6. 1.26 4.46 N/A N/A 26..09 Composite Benchmark Performance figures unavailable Difference N/A N/A N/A N/A N/A N/A N/A N/A N/A RLP/JPMorgan Natural Resources 1.70% 1.88% Active 24.62-1.08 6.01-19.8-21.24-14.97 7.4 -.69 N/A N/A 26..09 HSBC Gold Mining & General Index -16.7 27.07 19.11-1.84-42.29 8.08-8.88 N/A N/A Difference 1.49 28.94-8.96-7.40 27.2-0.74.19 N/A N/A RLP/Jupiter Financial Opportunities 1.70% 1.98% Active 11.4 9. 24.92-6.21 8.76.49 8.60 9.01 N/A N/A 29.0. MSCI ACWI/Financials 2.60 41.91-9.06 14.8.67 9.80 9.2 N/A N/A Difference 6.7-16.99 2.8-6.09 6.82-1.20-0.1 N/A N/A RLP/Newton Real Return 1.70% 1.81% Active.29 -.07 1.21-0.09.27 0.27-0.67 0.68 N/A N/A 29.0. LIBOR GBP 1 Month + 400 Bps Index 2.60 2.8 2.74 2.74 2.7 2.64 2.68 N/A N/A Difference -.67-1.7-2.8 2. -2.46 -.1-2.00 N/A N/A RLP/Standard Life Global Absolute Return Strategies 1.70% 1.79% Active 4.1-0.0-0.9 -.66 8.90 2.28-2.28 0.77 N/A N/A LIBOR GBP 6 Months Index -1.17-1.11-0.97-1.01-1.09-1.08-1.07 N/A N/A Difference 0.67 0.2-4.69 9.91.7-1.20 1.84 N/A N/A 18.02.1 Source: Lipper, bid to bid, as at 1.0.2018, Royal London, as at 1.0.2018. All performance figures, including the figures shown for the growth in the benchmarks, have been calculated net of the. The Compound Annual Growth Rate (C.A.G.R.) is a measure of the investment returns, on a given fund, over the specified period. It allows for the impact of compounding of investment returns, which is particularly important where returns vary from one year to the next. Past performance is not a guide to the future. Prices can fall as well as rise meaning you may not get back the value of your original investment. Investment returns may fluctuate and are not guaranteed. 1 Total Expense Ratio (TER), covering calendar year 2016. The TER is a measure of the overall cost of a fund to the investor. It includes the plus any audit, custodian, registration or compliance fees paid out of the fund s assets. It does not include the costs of buying and selling securities, which would still be paid if investing directly in securities instead of through an investment fund. 2 The Volatility figure shown is the annualised standard deviation of the monthly returns on the fund over a three-year time period to 1.0.2018. Standard deviation is a measure of the spread of monthly returns around the average (mean) return. A higher volatility figure indicates that the fund has produced a wider range of returns over the three-year period while a fund with a lower volatility figure has been more stable. The performances of the indicated benchmarks have been calculated using prices for the last pricing date previous to that shown (i.e. to compare our fund price movements for the period to 1.0.2018 we have used benchmark prices to 29.0.2018). This calculation allows a more accurate comparison between the fund and its benchmark, due to a one-day delay in the pricing of the external funds in question. 4 As part of our ongoing review process a change of underlying investment occurred for this fund. Please visit royallondon.com for further information. 12
The performances of the indicated benchmarks have been calculated using prices for the last pricing date two days prior to that shown (i.e. to compare our fund price movements for the period to 1.0.2018 we have used benchmark prices to 28.0.2018). This calculation allows a more accurate comparison between the fund and its benchmark, due to a two-day delay in the pricing of the external funds in question. 6 Please note this fund was closed to new investors and incremental investments on 07.09.201. 7 Tracker funds, also known as passive funds, aim to perform in line with a market index such as the FTSE All Share index. They do this by investing in either all (full replication) or a representation (partial replication) of the index constituents. Tracker funds tend to be low cost as this replication is generally done automatically and does not require the same level of research as active management. Actively managed funds aim to outperform the market index by employing fund managers and research teams to make tactical decisions on which stocks or sectors to invest in. They tend to have higher charges than tracker funds in line with the extra resource required to run these funds. It should be remembered that a higher charge does not guarantee better returns. Royal London 1 Thistle Street, Edinburgh EH2 1DG royallondon.com All literature about products that carry the Royal London brand is available in large print format on request to the Marketing Department at Royal London, 1 Thistle Street, Edinburgh EH2 1DG. All of our printed products are produced on stock which is from FSC certified forests. Source: FTSE International Limited ( FTSE ) FTSE 2016. FTSE is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. All rights in the FTSE indices and/or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and/or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE s express written consent. The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: Gracechurch Street, London, ECV 0RL. Royal London Marketing Limited is authorised and regulated by the Financial Conduct Authority and introduces Royal London s customers to other insurance companies. The firm is on the Financial Services Register, registration number 0291. Registered in England and Wales number 441417. Registered office: Gracechurch Street, London, ECV 0RL. Royal London Corporate Pension Services Limited is authorised and regulated by the Financial Conduct Authority and provides pension services. The firm is on the Financial Services Register, registration number 46004. Registered in England and Wales number 817049. Registered office: Gracechurch Street, London, ECV 0RL. April 2018 IB April 2018/04