Rebranding Project following the merger of

Columbia and Threadneedle Investments

INVESTOR GUIDES

INSTITUTIONAL LITERATURE

FUND PROFILES/FLYERS/SALES AIDS

Pagina 1 di 2

THREADNEEDLE (LUX) GLOBAL FOCUS FUNDSTRATEGIA AZIONARIA GLOBALE CONCENTRATASETTEMBRE 2014

AD USO ESCLUSIVO DEGLI INVESTITORI PROFESSIONALI

Strategia di gestione1. Il Fondo mira ad un incremento del capitale, investendo prevalentemente

in un portafoglio concentrato di società di tutto il mondo: n Mediamente vi sono da 30 a 50 titoli in portafoglio

2. Investe almeno due terzi del proprio capitale in azioni di società di tutto il mondo e può investire in mercati sviluppati ed in mercati emergenti (in cui il rischio economico e politico può essere considerevole e dove la governance e le normative potrebbero non essere ben sviluppate).

3. Approccio di investimento attivo, focalizzato sull’attenta selezione di titoli di elevata qualità, identifi cati attraverso il modello delle “5 forze di Porter”

4. Le società di elevata qualità operano in settori interessanti o hanno sviluppato un modello di business di successo in un settore diffi cile: n Esse possono benefi ciare di rendimenti superiori al costo del capitale in maniera sostenibile n Possiedono un “potere di prezzo”, ossia la capacità di alzare il prezzo senza una signifi cativa perdita di clienti n Detengono un vantaggio competitivo

Perchè investire in azionario globale?1. L’investimento in fondi azionari globali consente maggiore agilità,

poiché permette di cogliere le migliori opportunità su tutti i mercati, senza vincoli di investimento in uno specifi co paese.

2. Avere un portafoglio diversifi cato con società di qualità riduce al minimo il rischio di subire perdite di capitale.

3. Il mercato sottovaluta la capacità di alcune società di sostenere elevati rendimenti e, di conseguenza, le sottostima:

n A livello globale vi sono società con un solido modello di business in grado di generare un vantaggio competitivo

Dati principali:Data di lancio: Benchmark del fondo: Valuta Base del fondo:Ottobre 1995 MSCI AC World USD

Spunti di investimento1. Extra performance solida e consistente 1,3,5 e 10 anni

2. Attenta gestione del rischio n Limite tracking error <10% n Limiti di investimento a livello di titolo max 5% n Nessun vincolo nei limiti di investimento sia a livello di settore che di paese

3. Diversifi cazione:

n Il fondo investe mediamente in 30 - 50 titoliAl 31 Agosto 2014. Le performance sono annualizzate e si riferiscono alla classe di azioni AU in valuta base USD, al netto di commis-sioni, proventi reinvestiti. I rendimenti passati non sono indicativi di risultati futuri. Il valore degli investimenti può diminuire così come aumentare. Ciò signifi ca che un investitore potrebbe non recuperare il suo investimento iniziale. Copyright © 2014 Morningstar UK Limited.

Processo di investimento

Crescita degli smartphone a livello globale: un tema da sfruttare

Fonte: HSBC – Marzo 2013

0

100

200

300

400

500

600

700

800

2004 2005 2006 2007 2008 2009 2010 2011e 2012 2013e

Mercati Sviluppati Mercati Emergenti

T(Lux) Global Focus (AU) MSCI AC World

20.98%

13.22% 12.65%

8.23%

21.61%

14.68% 12.38%

8.41%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

1 anno 3 anni 5 anni 10 anni

Performance annualizzate del fondo verso indice

0

100

200

300

400

500

600

700

800

2004 2005 2006 2007 2008 2009 2010 2011e 2012 2013e

Mercati Sviluppati Mercati Emergenti

T(Lux) Global Focus (AU) MSCI AC World

20.98%

13.22% 12.65%

8.23%

21.61%

14.68% 12.38%

8.41%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

1 anno 3 anni 5 anni 10 anni

Generazione dell’idea Ricerca / dibattito Implementazione

Team azionari globali e regionali

Analisi modello di business

e dettagliata valutazione

fondamentale

Caratteristiche favorevoli:

n Margini elevati n Forte crescita

Selezione titoli basata su valutazione

e convinzione

Gestione del rischio attraverso la

diversifi cazione per titolo

Macro e temi

Incontri con le società

Universo di investimento c.2000 titoli

50-70 titoli600 titoli ricercati

Valutazione del rendimento sul capitale

Page 1 of 2

THREADNEEDLE (LUX) GLOBAL ASSET ALLOCATION FUNDSTRATEGIA FLESSIBILE MULTI-ASSET NOVEMBRE 2014

AD USO ESCLUSIVO DEGLI INVESTITORI PROFESSIONALI

Strategia di gestione1. 1. Il Fondo mira a generare reddito e crescita del capitale investito su

un orizzonte temporale di medio-lungo termine

2. 2. Il Fondo investe almeno due terzi del proprio capitale in azioni di società ed in obbligazioni (strumenti simili ad un prestito che pagano un tasso di interesse fisso o variabile) emesse da società e governi a livello mondiale.

3. 3. Offre un’esposizione globale a una vasta gamma di classi di attività, con l’obiettivo di generare rendimenti di tipo azionario con una volatilità pari a non oltre i due terzi di quella di un investimento in azioni

nn Assenza di vincoli di benchmark

nn Flessibilità e gestione dinamica dell’asset allocation

nn Focus sulla selezione dei titoli

nn Controllo della volatilità

nn Strategie d’investimento in titoli Investment Grade e High Yield

Perchè investire in strategie multi-asset?1. La volatilità persisterà ancora nei mercati

nn L’investimento multi-asset può offrire, potenzialmente, ottimi rendimenti mantenendo sotto controllo la volatilità

2. La diversificazione è una componente essenziale di un portafoglio ben costruito

nn Il Fondo gode di una significativa flessibilità e può gestire in maniera dinamica l’allocazione tra azioni, reddito fisso, materie prime e liquidità

3. Strategia che può collocarsi nella parte “core” del portafoglio degli investitori

nn Gli investitori generalmente non tentano di battere un benchmark ma mirano a buoni rendimenti positivi a lungo termine con fluttuazioni contenute: questo è esattamente il nostro obiettivo

Spunti di investimento1. Performance solida e consistente

nn Il fondo ha conseguito risultati di grande successo e ha saputo generare solide e premiate performance a 1, 3, 5, 10 anni e dalla sua costituzione.

2. Nel medio termine, la gestione multi-asset produce rendimenti positivi, insieme ad una volatilità contenuta

3. Threadneedle vanta una considerevole esperienza nella gestione multi-asset fin dalla sua costituzione, nel 1994, con un track record di 20 anni

Dati principali:Data di lancio: Benchmark del fondo: Valuta Base del fondo:31 Ottobre 1995 Nessuno USD

Strategia di investimento

Profilo di rischio e rendimento (da agosto 2012)

Performance annualizzate del fondo

AssetAllocation

AssetAllocation

Reddito fisso ealtre asset class

Portafoglio azionario0% a 75%

Obbligazioni & cash : 0 a 100% Materie prime : 0 a 20% Alternativi : 0 a 10%

10.98%

6.06% 7.42%

6.80%

4.84%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

1 anno 3 anni 5 anni 10 anni Dallacostituzione

(31 ottobre 1995)

100% Global Bonds

GAA

100% US Eq

100% US Bonds

100% Global Eq

-5%

5%

10%

15%

20%

25%

0% 2% 4% 6% 8% 10% 12%

Annu

alis

ed R

etur

n

Annualised Volatility

ACWI & CWGBI US Equity and Bonds ACWI and US Bonds

AssetAllocation

AssetAllocation

Reddito fisso ealtre asset class

Portafoglio azionario0% a 75%

Obbligazioni & cash : 0 a 100% Materie prime : 0 a 20% Alternativi : 0 a 10%

10.98%

6.06% 7.42%

6.80%

4.84%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

1 anno 3 anni 5 anni 10 anni Dallacostituzione

(31 ottobre 1995)

100% Global Bonds

GAA

100% US Eq

100% US Bonds

100% Global Eq

-5%

5%

10%

15%

20%

25%

0% 2% 4% 6% 8% 10% 12%

Annu

alis

ed R

etur

n

Annualised Volatility

ACWI & CWGBI US Equity and Bonds ACWI and US Bonds

AssetAllocation

AssetAllocation

Reddito fisso ealtre asset class

Portafoglio azionario0% a 75%

Obbligazioni & cash : 0 a 100% Materie prime : 0 a 20% Alternativi : 0 a 10%

10.98%

6.06% 7.42%

6.80%

4.84%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

1 anno 3 anni 5 anni 10 anni Dallacostituzione

(31 ottobre 1995)

100% Global Bonds

GAA

100% US Eq

100% US Bonds

100% Global Eq

-5%

5%

10%

15%

20%

25%

0% 2% 4% 6% 8% 10% 12%

Annu

alis

ed R

etur

n

Annualised Volatility

ACWI & CWGBI US Equity and Bonds ACWI and US Bonds

Al 31 Ottobre 2014. Le performance sono annualizzate e si riferiscono alla classe di azioni AU in valuta base USD , al netto di commissioni, proventi reinvestiti. I rendimenti passati non sono indicativi di risultati futuri. Il valore degli investimenti può diminuire così come aumentare. Ciò significa che un investitore potrebbe non recuperare il suo investimento iniziale. Copyright © 2014 Morningstar UK Limited.

Pagina 1 di 2

THREADNEEDLE (LUX) AMERICAN FUNDSTRATEGIA AZIONARIA NORD AMERICANOVEMBRE 2014

AD USO ESCLUSIVO DEGLI INVESTITORI PROFESSIONALI

Strategia di gestione1. IIl Fondo mira ad un incremento del capitale, investendo

prevalentemente in titoli di società di media e grande dimensione domiciliate in nord America o con importanti attività in queste aree.

2. Gestione attiva che ricerca le migliori opportunità di investimento sul mercato:

n Quantifi ca le opportunità di rialzo e i rischi al ribasso, titolo per titolo n Ricerca fondamentale e basata sulla valutazione dei titoli

Perchè investire in azionario America?1. Il mercato americano è caratterizzato da:

n Tendenza demografi ca positiva

n Economia dinamica, fl essibile ed innovativa

n Quadro giuridico e normativo stabile e solido

n Banca centrale aggressiva

n Mercato azionario più grande al mondo

n Listino più diversifi cato e capitalizzato a livello globale

2. Negli Stati Uniti è in atto una rivoluzione energetica, grazie allo sfruttamento del gas scisto che è abbondante ed economico:

n Il prezzo del gas naturale in USA è basso rispetto al resto del mondo

Fonte: FERX, Waterborne Energy Inc*Data in $US per MMBTu

Dati principali:Data di lancio: Benchmark del fondo: Valuta Base del fondo:Ottobre 1995 S&P 500 USD

Spunti di investimento1. Extra performance solida e consistente

2. Attenta gestione del rischio

n Il fondo è gestito con un tracking error tra 2% e 6% n Limiti di investimento a livello di titolo +/-5% n Limiti di investimento a livello di settore +/-10% n Titoli mediamente in portafoglio tra 70 e 90

Al 31 Ottobre 2014. Copyright © 2014 Morningstar UK Limited. Dati di performance relativi alla classe di azioni AU in dollari USA, , al netto di commissioni, proventi reinvestiti. I rendimenti passati non sono indicativi di risultati futuri. Il valore degli investimenti può diminuire così come aumentare. Ciò signifi ca che un investitore potrebbe non recuperare il suo investimento iniziale.

Processo di investimento

Stime dei prezzi del gas naturale*

Altamira $3.86

Lake Charles $3.29

Bahia Blanca $13.20

Rio de Janeiro $12.10

Cove Point $4.68 Spagna

$11.41

UK $10.47

CoreaGiappone

$15.38 $15.38

India

$13.00

$

$

$

$

$$

$$

$

$$

$

Cina$15.00

Belgio$10.12

Performance annualizzate del fondo verso indice

T(Lux) American (AU) MSCI AC World

14.65%

17.46%

14.92%

9.24%

17.27% 19.77% 16.69%

8.20%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

1 anno 3 anni 5 anni 10 anni

Generazione dell’idea Ricerca / dibattito Implementazione

Team azionario USA e ricerca esterna Analisi fondamentale

+Valutazione

+Valutazione del rischio

Obiettivi di rialzo/ribasso

Costruzione del

portafoglio

Gestione del rischio

Incontri con le società

Macro & temi di Threadneedle

Universo investibile: c.2500 società

70-90 titolic.650 titoli ricercati

UK DIRECT MARKETING

columbiathreadneedle.com

Die Wertentwicklung in der Vergangenheit ist kein Hinweis auf die zukünftige Wertentwicklung. Columbia Threadneedle Investments ist der globale Markenname der Columbia- und Threadneedle-Unternehmensgruppe. Die Unternehmen von Columbia und Threadneedle gehören zu der führenden US-Finanzdienstleistungsgesellschaft Ameriprise Financial, Inc. und zählen zusammen zu den 30 größten Vermögensverwaltungsgesellschaften der Welt (Stand: 31. Dezember 2013. Quelle: Pensions & Investments/Towers Watson Global 500 Ranking – Ende 2013). Verwaltetes Vermögen von mehr als 500 Mrd. USD: unter Berücksichtigung des kombinierten Anlagevolumens der Columbia- und Threadneedle-Unternehmensgruppe (Stand: 31. Dezember 2014). Quelle: Geschäftszahlen von Ameriprise Financial für das 4. Quartal 2014. Morningstar (Stand: 31. Januar 2015). Weitere Informationen zur Methodik finden Sie unter www.morningstar.com Copyright @ 2015 Morningstar Inc. Alle Rechte vorbehalten. Manche Fonds sind in einigen Ländern, für manche Anleger oder von bestimmten Unternehmen nicht verfügbar. Die in divesem Dokument enthaltenen Hinweise dienen ausschließlich der Information und stellen kein Angebot und auch keine Aufforderung zum Kauf oder zum Verkauf von Wertpapieren oder anderen Finanzinstrumenten dar, noch gelten sie als Anlageberatung oder sonstige Leistungen. Warnung: Kapitalanlagen sind mit Risiken verbunden. Da Preisschwankungen möglich sind, erhalten Sie unter Umständen nicht den ursprünglich investierten Betrag zurück. Herausgegeben von Threadneedle Investment Services Limited (Registernummer: 3701768). Threadneedle Asset Management Limited (Registernummer: 573204). Eingetragen in England und Wales. Im Vereinigten Königreich zugelassen und reguliert von der Financial Conduct Authority. columbiathreadneedle.com 03.15 | J22948

GEMEINSAM BIETEN WIR MEHR.

GEMEINSAM BIETEN WIR MEHR.

� Aktiv verwaltetes Vermögen von mehr als 500 Mrd. USD

� 115 Fonds, die von Morningstar mit 4 oder 5 Sternen bewertet sind

� 2.000 Mitarbeiter, die rund um den Globus für unsere Kunden aktiv sind

� 450 Investmentexperten

� Kapazitäten in den Bereichen Aktien, Anleihen, alternative Investments und Asset-Allocation

� Vorteil einer globalen Perspektive

J22948_Day one rebrand mailing flyer.indd 1 26/03/2015 10:43

210208 210

COLUMBIATHREADNEEDLE.CO.UK

INVESTOR UPDATE MAY 2015

Important information: This material is for information only and does not constitute an offer or solicitation of an order to buy or sell any securities or other financial instruments, or to provide investment advice or services. Past performance is not a guide to future performance. The value of investments and any income is not guaranteed and can go down as well as up and may be affected by exchange rate fluctuations. This means that an investor may not get back the amount invested. Information gained from external sources is believed to be reliable but its accuracy or completeness cannot be guaranteed. Issued by Threadneedle Investment Services Limited. Registered in England and Wales, Registered No. 3701768, Cannon Place, 78 Cannon Street, London EC4N 6AG. Authorised and regulated in the UK by the Financial Conduct Authority. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies. columbiathreadneedle.com Issued 04.15 | J22758

CUSTOMER COUNCILWe are well aware of how much trust you have placed in us by choosing us to manage your money.

Your views, feedback and experience are critically important for us to continue to provide products and services to suit your future needs. We can only do this by working with you to develop a deeper understanding of what you expect both from us, and from investment services generally. This is why we have created the Customer Council.

As a member of the Council you will be invited to take part in a limited number of high-level interviews, surveys, and exclusive events over the next year. We use the information you provide to us to make real improvements to our products, services and how we communicate to our investors.

myThreadneedle

REGULATORY CHANGES – IMPORTANT INFORMATION

myThreadneedle is our online transaction and valuation service which provides you with instant access to your investments with us, 24 hours a day, at a time convenient for you. The site is secure and password-protected so only you can see your portfolio of investments.

On 1 June 2015 the UK regulator, the Financial Conduct Authority, will introduce new rules which will provide you with extra protection in regards to the way we handle your money when you buy and sell shares in our funds.

A legal notification providing full details of the change has been sent to you with your April 2015 statements – it is also available on our website columbiathreadneedle.co.uk/legal.

You are not required to take any action relating to this change, however, if you have any questions please contact us on 0800 953 0134* Monday to Friday 8am to 6pm, or contact a financial adviser.

To create your account, please call us on 0800 953 0134* for an activation code and then visit mythreadneedle.com

CONTACT DETAILS

Phone: 0800 953 0134* (Monday to Friday, 8am – 6pm)

Email: questions@service.columbiathreadneedle.co.uk

Address: Threadneedle Investment Services Limited, PO Box 10033, Chelmsford, CM99 2AL

Web: columbiathreadneedle.com

If you need to get in touch with us, please use the details below.

*Calls may be recorded.

On the site you can:

nn carry out transactions: make a new investment, top-up an existing investment, sell an investment, switch holdings to another Threadneedle fund Please note that customers who deal directly with us and not via a financial adviser can carry out transactions on the site

nn view valuations

nn compare Threadneedle funds

nn plan for an investment goal

nn access a range of educational material

SWIM IT. RIDE IT. RUN IT. As the Global Financial Services Partner we are pleased to support the ITU World Triathlon Series - the pinnacle of the sport and a platform to promote a more active lifestyle.

In 2015 the series will visit 10 cities around the globe as the world’s best athletes battle it out to be crowned World Champion and seek Olympic qualification. Close to 50,000 Age Group athletes also participate in the Series, 1 million spectators attend the events and the Series is enjoyed by a global TV audience of 156 million.

In the UK we are proud to support Access Sport, a youth development charity which builds community sport programmes throughout the country. Clients and employees involved in the triathlon have helped to raise in excess of £75,000 to support the charity and harness the proven power of sport to tackle social exclusion, inactivity and obesity in areas where help is most needed.

Working with Access Sport to encourage children to get involved in sport.

Find out more about the triathlon and Access Sport on our website.

INVESTING IN OUR COMMUNITYIn 2013 we set up the Columbia Threadneedle Foundation with the aim of growing our commitment to investing in the community by building partnerships that create positive social impact and engendering social change.

Through the Foundation, we have committed to major partnerships with national charities The Art Room, Access Sport and PFEG (Personal Finance Education Group). In addition to contributing funds, we work with these charities to develop their fundraising and provide a variety of pro bono skills and resources.

In April 2014 we launched an employee volunteering programme – to date over 145 employees have participated in volunteering activities with local charities.

*Please note we record calls for your protection and to improve our standards.

Employee volunteers support a riverside clear-up day for UK environmental charity Thames21.

If you would like to join the council please email columbiathreadneedle@thewisdomcouncil.com

J22758_Investor update April 2015-new.indd 1 11/05/2015 10:03

210210 208

On 30 March 2015 Threadneedle Investments and its US-based affiliate Columbia Management rebranded its business as Columbia Threadneedle Investments.

INTRODUCING OUR NEW BRAND Q1 MARKET REVIEW PENSIONS

INVESTING FOR INCOME

OUTLOOK

Our experienced Portfolio Managers, strong product range and robust processes remain in place, and none of the fund names have changed. Your account numbers, phone numbers and the Investor Centre address will all be the same. Your investment success is our priority and our aim is to ensure we deliver the investment outcomes you need.

Some important things aren’t changing though

The new brand represents the combined capabilities, reach and resource of Threadneedle Investments and Columbia Management, both are owned by Ameriprise Financial a leading US-based financial services provider.

Together we are more than 450 investment professionals, located across 18 countries and responsible for US$506 billion in assets†. Our collective perspective and world view gives us deeper insight into what might affect the financial outcomes you are seeking.

Putting our views into a global context enables us to build richer perspectives, create the right solutions and deliver consistent investment performance, which ultimately leads to better outcomes.†AUM of US$506bn : Includes the combined assets under management of the Columbia and Threadneedle group of companies as of 31 March 2015. Source: Ameriprise Financial , Inc. Q1 2015 earnings release..

The world is constantly changing, but our priority remains the same — successful investment outcomes for our clients.

Investors will have to get to grips with the different approaches to policy adopted by central banks this year. Europe and Japan have been loosening monetary policy whereas in our view, the Fed will increase interest rates, albeit modestly, this year.

Perhaps the biggest challenge facing policymakers in the developed world is to decide what to do if economic growth remains weak. If we ignore the US, there have been few signs of real economic improvement. The problem is that there is relatively little policymakers can do to stimulate growth: interest rates cannot go much lower and most governments cannot increase spending further due to already high levels of debt.

Regionally, we believe that Japanese equities should remain attractive as a weaker yen is helping to boost corporate earnings, particularly for exporters. Domestic reforms should also prove positive.

We continue to like UK equities, which produce a relatively high level of income in the form of dividends. At the time of writing the outcome of the UK election is looking uncertain and could mean the markets are volatile for the short term. However uncertain markets can also create opportunities for long-term investors.

The ‘search for income theme’ is likely to continue unabated. Assets with high levels of income will remain in demand and for that reason we remain positive on the outlook for direct commercial property. Property also has the benefit of being a tangible asset, which is important to many investors in the post-financial-crisis world, and could also provide important diversification benefits.

Economic slowdown in China Growth for 2014 was 7.4% - the slowest rate of growth for nearly a quarter of a century. Chinese authorities have unveiled a range of measures to support growth.

European Central Bank (ECB) announces expanded quantitative easing (QE)Following the announcement:

n� European bond yields have fallen (meaning that bond prices have gone up).n� German 10-year government bonds now have a lower yield than the equivalent Japanese bond.

Greek elections Post-election, the Greek financial crisis (which stretches back to 2009) continues. No major impact outside Greece so far, but concerns are growing that Greece could run out of money.

Moody’s cut Petrobras bonds to junk status Petrobras, the Brazilian oil company, has its bonds downgraded to junk by Moody’s. Latin American stock markets, such as those in Brazil, have performed poorly this year.

US Federal Reserve March statement US Federal Reserve removes the reference to a ‘patient’ policy approach. Markets already anticipated at least one US interest rate rise this year, but they were buoyed by the fact that the Fed’s own rate rise projections were less aggressive.

UK Budget No significant impact, unlike last year when major pension reforms were unveiled.

20 January

25 January

24 February

18 March

18 March

2015 A pensions revolution is happening in the UK, sparked by the government’s announcement in the March 2014 budget that from 6 April 2015 it was to relax the rules on what retirees can do with their pension pots when they retire.

Until this year, the vast majority of defined contribution (DC) pension savers had no option but to buy an annuity – which converts a pension fund into an income for life. Only those with the biggest pensions could leave their funds invested and draw an income from it, while only those with the very smallest of funds could take the lot as cash.

But from 6 April 2015, retirees are able to do what they like with their hard-earned savings. They can:

nn cash their pension in and take the money

nn leave their pension invested and use it to generate an income

nn buy an annuity

nn mix and match the above to find the right solution for you

It means people have far greater control over their finances in retirement. However, with those freedoms comes a greater responsibility to make the right decision to keep you and your family secure in retirement. This is harder than ever, with so many options open to every retiree.

During our working lives we get an income from our salary, however, sometimes individuals and families need to supplement this income with extra work or from their savings in order to pay for luxuries or to help with the basic costs of everyday living.

As we get older and enter retirement, we usually need to generate an income to replace our salary – either through a pension, savings or other types of investment.

In retirement, generating an income is crucial for those with an outstanding mortgage or rent to pay, while all of us will need some kind of income to cover the cost of bills, hobbies, travel and all the other essentials of everyday life.

The questions we all need to ask ourselves are:

nn how much income do I need?

nn what savings or investment products might help me achieve that level of income?

How seriously you approach tackling your income needs will also depend on what you need the income for: whether that’s as a supplement to your salary, to boost your pension or merely for holidays and treats.

Our Investor Guide to Pensions provides an overview of pensions, details on saving for retirement and outlines the options available to you when you retire. You can view the guide on our website.

Our Investor Guide to Investing for Income explains some of the options available and the reasons why you may wish to invest for income. You can view the guide on our website.

22 January

Our website columbiathreadneedle.co.uk gives you access to our latest investor guides and fund information. You can also view our Your success. Our priority. video which introduces our new brand. Read our full Outlook on our website.

J22758_Investor update April 2015-new.indd 2 11/05/2015 10:04

UK AND GLOBAL BRAND ADVERTISING

STRONGER TOGETHER.Today’s interconnected world means that investors require a global investment capability. That’s why we’ve joined forces as Columbia Threadneedle Investments so you can benefi t from global investment perspectives which harness the resources, experience and scale of one of the world’s largest assetmanagement groups. Together we are 2,000 professionals, located across 18 countries and responsible for more than US$500 billion in assets.

Our global investment framework generates richer insights and shared ideas across our team. Because we are better informed, we can make better investment decisions.

Whatever outcome you’re investing for, your success is our priority.

Past performance is not a guide to future performance. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies. The Columbia and Threadneedle companies are owned by leading U.S. fi nancial services fi rm Ameriprise Financial, Inc. and together form the 30th largest global asset management group as of December 31, 2013. Source: Pensions & Investments/Towers Watson Global 500 Ranking – Year End 2013. AUM of US$500bn : Includes the combined assets under management of the Columbia and Threadneedle group of companies as of December 31, 2014. Source: Ameriprise Financial Q4 2014 earnings release. This material is for information only and does not constitute an offer or solicitation of an order to buy or sell any securities or other fi nancial instruments, or to provide investment advice or services. Warning: your capital is at risk, prices may fl uctuate and you may not receive back your original investment. Issued by Threadneedle Investment Services Limited (No. 3701768). Threadneedle Asset Management Limited (No. 573204). Registered in England and Wales. Authorised and Regulated in the UK by the Financial Conduct Authority.

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DE MS 290mm X 220mm EUROPEAN SELECT FUND GERMAN MASTER

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WIR WOLLEN NOCH AKTIVER SEIN

Wichtige Informationen. Nur für Anlageberater/professionelle Anleger (nicht für Privatkunden zu verwenden oder an diese weiterzuleiten). Die Wertentwicklung in der Vergangenheit ist kein Hinweis auf die künftige Wertentwicklung. Der Wert der Anlagen und etwaige Einkünfte daraus sind nicht garantiert und können sowohl steigen als auch fallen sowie von Wechselkursveränderungen beeinflusst werden. Das bedeutet, dass ein Anleger unter Umständen den ursprünglich angelegten Betrag nicht zurückerhält. Threadneedle Investment Funds ICVC („TIF“) ist eine offene Investmentgesellschaft mit einer Umbrella-Struktur, wurde in England und Wales gegründet und im Vereinigten Königreich von der Financial Conduct Authority (FCA) als OGAW zugelassen und unterliegt deren Aufsicht. Die in diesem Dokument enthaltenen Hinweise dienen ausschließlich der Information und stellen kein Angebot und auch keine Aufforderung zur Zeichnung oder zum Verkauf von Wertpapieren oder anderen Finanzinstrumenten dar, noch gelten sie als Anlageberatung oder sonstige Leistungen. Zeichnungen von Anteilen eines Fonds dürfen nur auf der Grundlage des aktuellen Verkaufsprospekts bzw. der wesentlichen Anlegerinformationen (KIID) und des letzten Jahres- bzw. Zwischenberichts sowie auf der Grundlage der aktuellen Geschäftsbedingungen erfolgen. Anleger sollten sich auch im Verkaufsprospekt über die Risikofaktoren bei der Fondsanlage generell und speziell bei der Anlage in diesem Fonds informieren. Die oben genannten Dokumente sind in Englisch, Französisch, Deutsch, Portugiesisch, Italienisch, Spanisch und Niederländisch verfügbar und auf Anfrage kostenlos an folgender Stelle erhältlich: JP Morgan AG, Junghofstr. 14, 60311 Frankfurt. Herausgegeben von Threadneedle Investment Services Limited. Eingetragen in England und Wales unter der Registernummer 3701768; eingetragener Firmensitz: Cannon Place, 78 Cannon Street, London EC4N 6AG, GB. Im Vereinigten Königreich zugelassen und reguliert von der Financial Conduct Authority. Columbia Threadneedle Investments ist der globale Markenname der Columbia- und Threadneedle-Unternehmensgruppe.

columbiathreadneedle.de

Besuchen Sie unsere Website und sehen Sie, wie wir den Erfolg Ihrer Kunden zu unserer Priorität machen.

Wohin die Zukunft Ihre Kunden auch führen mag, sie wollen die Mittel haben, NEUES zu entdecken.

Der European Select Fund setzt auf attraktiv bewertete Qualitätsunternehmen, die eine starke Wettbewerbsposition in ihrem Markt und die notwendige Preismacht haben, um solide Erträge erzielen zu können. Damit hat der Fonds das Potenzial für ein langfristig überdurchschnittliches Kapitalwachstum und eignet sich für Kunden, die bereit sind, die tendenziell höhere Volatilität in Kauf zu nehmen, die sich bei einer Anlage in ein fokussiertes Aktienportfolio ergeben kann.

Unsere bewährte kooperative Unternehmenskultur und die Expertise und Erfahrung des Fondsmanagers haben dazu geführt, dass der Fonds in vier der letzten fünf Kalenderjahre* die Benchmark deutlich übertroffen hat. Der Erfolg unserer Kunden ist unsere Priorität. Erfahren Sie mehr auf unserer Website.

THREADNEEDLE EUROPEAN SELECT FUND. FÜR DIE, DIE MEHR VOM LEBEN WOLLEN.

*Quelle: Copyright @ 2015 Morningstar UK Limited. Stand: 31. März 2015. Alle Angaben in Euro. Die Fondsperformance wird auf Nettobasis angegeben, auf Grundlage der Kurse um 12 Uhr, unbereinigt bei Wiederanlage der Erträge. Die Wertentwicklung in der Vergangenheit ist kein Hinweis auf die künftige Wertentwicklung. Erträge können nicht garantiert werden. Das bedeutet, dass ein Anleger unter Umständen den ursprünglich angelegten Betrag nicht zurückerhält.

Threadneedle European Select Fund (netto)

Index (FTSE World Europe ex UK)

10.9% 19.5% 24.4%

7.4% 22.0% 21.3%

2014 2013 2012

-2.6%

-12.5%

2011

24.2%

9.7%

2010

Important information. 1Telephone calls may be recorded. For Professional and/or Qualified Investors only. The value of investments and any income is not guaranteed and can go down as well as up and may be affected by exchange rate fluctuations. This means that an investor may not get back the amount invested. Threadneedle Opportunity Investment Funds ICVC (“TOIF”) is an open-ended investment company structured as an umbrella company, incorporated in England and Wales, authorised and regulated in the UK by the Financial Conduct Authority (FCA) as a Non-UCITS scheme. This material is for information only and does not constitute an offer or solicitation of an order to buy or sell any securities or other financial instruments, or to provide investment advice or services. This presentation is not investment, legal, tax, or accounting advice. Investors should consult with their own professional advisors for advice on any investment, legal, tax, or accounting issues relating an investment with Columbia Threadneedle Investments. The fund characteristics described above are internal guidelines (rather than limits and controls). They do not form part of the fund’s objective and policy and are subject to change without notice in the future. Issued by Threadneedle Investment Services Limited. Registered in England and Wales, Registered No. 3701768, Cannon Place, 78 Cannon Street, London, EC4N 6AG, United Kingdom. Authorised and regulated in the UK by the Financial Conduct Authority. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies. columbiathreadneedle.com 04.15 | J23076

For more information, please contact: Moira Gorman on 020 7464 53411, or Camilla Crowe on 020 7464 55061

The fixed income market provides opportunities to invest in and fund economic development in areas of greatest social need in the UK. Columbia Threadneedle, winner of the 2014 Cabinet Office Social Investment and UK Professional Pensions SRI/ESG Provider Awards, brings you the Threadneedle UK Social Bond Fund in partnership with Big Issue Invest, the social investment arm of The Big Issue.

The Fund is the first mainstream investment vehicle that aims to achieve both an investment return and a positive social outcome for investors. We can make a real difference for communities and our society, by investing in healthcare, housing, education, jobs and infrastructure bonds.

In 2014, the Fund delivered a net annual return of 11.1%, akin to UK Sterling corporate bonds.

2014 Calendar Year Performance. Shareclass: Retail Z Accumulation (Net).

BRINGING SOCIAL INVESTMENT INTO THE MAINSTREAM

Las rentabilidades pasadas no son indicativas de los resultados futuros. Columbia Threadneedle Investments es el nombre comercial global del grupo de sociedades Columbia y Threadneedle. Las compañías Columbia y Threadneedle son propiedad de una de las principales sociedades de servicios fi nancieros de EE. UU., Ameriprise Financial, Inc. El presente documento tiene carácter meramente informativo y no debe considerarse como una oferta o una invitación para realizar una orden de compra o venta de cualquier título u otro instrumento fi nanciero, ni para prestart asesoramiento o servicios de inversión. Advertencia: su capital está sujeto a riesgos; los precios pueden fl uctuar y puede que no reciba el importe de la inversión original. Publicado por Threadneedle Investment Services Limited (n.º 3701768). Threadneedle Asset Management Limited (n.º 573204). Sociedad registrada en Inglaterra y Gales. Autorizada y regulada en el Reino Unido por la Autoridad de Conducta Financiera (FCA). J23328

TU EXITO, NUESTRA PRIORIDAD

CONFERENCE & EVENTS

UK INVESTMENT CONFERENCE 2014

J23555

LONDON TRIATHLON SPONSORSHIP

Important information: Past performance is not a guide to future performance. The value of investments and any income is not guaranteed and can go down as well as up and may be affected by exchange rate fl uctuations. This means that an investor may not get back the amount invested. Registered in England and Wales, Registered No. 3701768, Cannon Place, 78 Cannon Street, London, EC42 6AG, United Kingdom. Authorised and regulated in the UK by the Financial Conduct Authority. Columbia Threadneedle Investment is the global brand of the Columbia and Threadneedle group of companies. columbiathreadneedle.com Issued 04.15 | J23369

Columbia Threadneedle Investments is the Global Financial Services Partner of the ITU World Triathlon Series and title partner of the offi cial rankings.

To fi nd out more about the Columbia Threadneedle Rankings go to http://wts.triathlon.org/ColumbiaThreadneedleRankings, or join the conversation on twitter with @CTinvest_tri or by using #CT_Rankings

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SUPPORTER

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PARTICIPAN

TS

Guest Registration1

Merchandise3

Race Pack Collection(Swimmer only)

2

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‘CTFN15 £10’

to 70070 £10

EXKLUSIVE EINLADUNG ZUR ROADSHOW: GLOBAL CLEVER IN DIVIDENDENTITEL UND NEBENWERTE INVESTIEREN

EINLADUNG

Mit Stephen Thornber und Mark Heslop25. - 26. Juni 2015

Wichtige Informationen. Nur für professionelle und/oder qualifizierte Anleger (nicht zur Nutzung mit oder zur Weitergabe an Retail-Kunden). Die frühere Wertentwicklung ist kein Indikator für die künftige Wertentwicklung. Der Wert von Anlagen und daraus resultierenden Erträgen kann ebenso gut fallen wie steigen, und Sie erhalten möglicherweise weniger zurück, als Sie investiert hatten. Fonds-Verkaufsprospekte sind kostenlos auf Anfrage bei der Zahlstelle JP Morgan AG, Junghofstr. 14, 60311 Frankfurt am Main erhältlich. Dieses Material dient ausschließlich Informationszwecken und ist weder als Angebot noch als Empfehlung zum Kauf oder Verkauf von Wertpapieren oder anderen Finanzinstrumenten aufzufassen und stellt auch keine Anlageberatung oder Finanzdienstleistung dar. Das hier zugrundeliegende Research und die Analysen sind von Threadneedle Investments für die eigenen Investmentaktivitäten erstellt worden. Alle enthaltenen Meinungsäußerungen entsprechen dem Stand zum Zeitpunkt der Veröffentlichung, können jedoch ohne Ankündigung geändert werden. Columbia Threadneedle Investments ist der globale Markenname der Columbia- und Threadneedle-Unternehmensgruppe. Herausgegeben von Threadneedle Investment Services Limited. Eingetragen in England und Wales, Eintragungsnummer 3701768, Cannon Place, 78 Cannon Street, London, EC4N 6AG, Vereinigtes Königreich. Im Vereinigten Königreich von der Financial Conduct Authority (FCA) autorisiert und beaufsichtigt. Columbia Threadneedle Investments (Columbia Threadneedle) ist der globale Markenname der Columbia- und Threadneedle-Unternehmensgruppe. columbiathreadneedle.com J23423

Columbia Threadneedle InvestmentsAn der Welle 5, 60322 Frankfurt am Main

Tel: +49 (0) 69 297 299 24 Email: deutschland@columbiathreadneedle.com

GLOBAL CLEVER IN DIVIDENDENTITEL UND NEBENWERTE INVESTIEREN

Sehr geehrte Geschäftspartner,

wir laden Sie sehr herzlich zu unserer Roadshow mit den Themen ‚Globale Dividendenstrategie und globale Nebenwerte‘ mit den Fondsmanagern Stephen Thornber und Mark Heslop ein.

Diskutieren Sie mit Stephen Thornber über den Status Quo an den Kapitalmärkten sowie den Ausblick für globale Dividendenstrategien. Die Bedeutung der Dividende hat für Investoren im aktuellen Niedrigzinsumfeld in den letzten Jahren stark zugenommen und viele befürchten aufgrund der Kursbewegungen keine nachhaltige Rendite mehr erwirtschaften zu können. Wie man diesem Dilemma mit globaler Research-Arbeit und erfahrenem Fondsmanagement möglicherweise entgehen kann, wird Ihnen Stephen Thornber näher erläutern.

Darüber hinaus möchten wir Ihnen die Chancen aufzeigen, wie Sie vom Wachstum und der Dynamik mittelständischer Unternehmen weltweit profitieren können. Unser Fondsmanager Mark Heslop wird Ihnen darlegen, warum es sinnvoll ist bei den Unternehmen der zweiten Reihe einen Blick über Europa hinaus zu wagen.

Beste Grüße sendet Ihnen Ihr Columbia Threadneedle-Team

+49 (0) 69 297 299 24 deutschland@columbiathreadneedle.com

VERANSTALTUNGSDETAILS:

nn Frankfurt: 25. Juni 2015, Lunch Präsentation um 11.30 Uhr Steigenberger Frankfurter Hof, Am Kaiserplatz 1-7, 60311 Frankfurt

nn München: 25. Juni 2015, Dinner Präsentation um 17.30 Uhr Vortrag: Montgelas Saal/ Dinner im Palaiskeller, Hotel Bayerischer Hof, Promenadeplatz 2-6, 80333 München

nn Hamburg: 26. Juni 2015, Lunch Präsentation um 11.30 Uhr Fairmont Hotel Vier Jahreszeiten, Neuer Jungfernstieg 9-14, 20354 Hamburg

Stephen ThornberFund Manager Investments, Equities.

Mark HeslopInvestment Analyst Investments, Equities.

Für Ihre Anmeldung sowie Ihre Rückfragen steht Ihnen Frau Anita Frießner gerne unter +49 (0) 69 297 299 - 24, deutschland@columbiathreadneedle.com zur Verfügung.

EINLADUNG | 25. - 26. Juni 2015 EINLADUNG | 25. - 26. Juni 2015

Thursday 11th June 20156:30 until late

As a thank you for your ongoing commitment, please join us for drinks atAqua Nueva Bar & Roof Terrace30 Argyll Street, London, W1B 3BR

RSVP sarah.cormack@columbiathreadneedle.com | Tel: 020 7464 5895Please advise of any dietary requirements

Property InvestmentsSummer Drinks

Marketing Collateral FOR ISG, BNY MELLON, GOLDMAN SACHS, ING,

MOORE STEPHENS, CREDIT AGRICOLE, etc.

FOR PROFESSIONAL INVESTORS ONLY

INVESTING FOR INCOME?Since the start of the financial crisis in 2008, it really has become increasingly very difficult to somehow squeeze a reasonable rate of return out of cash. Just a couple of years ago, deposit accounts and national savings products offered a relatively straightforward way of generating an income that would go a long way to helping you maintain your average standard of living; particularly if you were able to commit your money for an extended period.This is no longer the case. The financial crisis triggered a global slowdown in economic growth. As a result, central banks in many developed countries (such as the UK, US, and Japan) are keeping official interest rates very low to try to stimulate growth in their economies. This has left retail deposit rates at extremely low levels by historic standards. At the same time, the cost of living is continuing to rise. Incomes are being squeezed from both directions.

LIE BACK AND ENJOY THE SUNSHINEOUR BEST PERFORMERS IN ONE FUND

GENERAL INFORMATION

Fund launch date: 19 March 2006

Shareclasses launch date: 28 May 2012

Base currency: GBP

Minimum regular investment amount:

Accumulation share class: £50

Income share class: £50

Minimum limp sum investment:

Accumulation share class: £1,000

Income share class: £1,000

Income payment:

Income is paid out quarterly to income share class investors only

Charges: 0% entry charge

1.4% ongoing chrge, no exit charge, no performance fee.

ISIN Codes:

Accumulation shares: GB00B2PY0653

Income shares: GB00B2PY0653

The value of investment and the income from them is not guaranteed and is subject to stock market and currency movements!

Financial results 2012 2014Income (loss) from continuing operations (m) £ (813) £ 1,455Income (loss) from discontinued operations (m) (270) 14Extraordinary (loss ) on consolidation (m) — (26)Net income (loss) (in millions) £1,083 £1,443

A&M Investments

Old Mutual Global InvestorsMillennium Bridge House2 Lambeth HillLondonEC4V 4AJ

INVITATIONWEDNESDAY 11 FEBRUARY 2015

INVESTMENT SEMINAR

J22011

Date: Wednesday 11 February 2015Time: 12:15Venue: Old Mutual Global Investors Millennium Bridge House 2 Lambeth Hill London EC4V 4AJ

lauren.dettmer@threadneedle.com

Details:

RSVP to:

12:15 Arrival & Lunch13:00 Richard Buxton – Outlook for UK Equities/ Old Mutual Global Investors UK Alpha Fund13:45 Nadia Grant, Threadneedle – US Equities14:30 Coffee Break14:45 Iain Cunningham, Schroders – Global Multi-Asset Income15:30 Catherine Raw, BlackRock – Natural Resources16:15 Close and drinks

AGENDA

INVESTMENT SEMINAR

A dynamic, yet simple long-only risk controlled strategy

About the FundThe Dynamic Real Return Fund is a long only, unlevered, unconstrained and dynamically managed asset allocation fund that looks to provide a good real return over the longer term. This is done by exploiting active return sources at both the asset allocation and stock/fund selection levels. The Threadneedle Multi Asset team is responsible for the overall portfolio construction, being guided by the Asset Allocation Strategy Group - a Group consisting of nine senior investors in the fi rm including representatives from the Multi Asset Team.

Toby Nangle Fund Manager, Head of Multi Asset

Key reasons to invest1. Dynamic asset allocation – The Fund is able to take advantage of opportunities as they present themselves thanks to

its unconstrained asset allocation approach.

2. Straightforward – Long only, unlevered investment approach across fi ve broad asset classes - equities, fi xed income, commodities, property, cash and alternative strategies.

3. Volatility controlled – Holistic risk awareness with a focus on preserving and growing capital over the medium to long term.

4. Active underlying investments – The Fund will invest mainly in other Threadneedle funds but has the ability to invest in ETFs, Government Bonds and derivatives with no benchmark or asset allocation restrictions.

5. Heritage in asset allocation – Threadneedle has a strong and experienced Multi Asset team in place with asset allocation strategies accounting for c. 40% of AuM.

Key factsPerformance objective:Aims to achieve a positive real rate of return from capital appreciation over the medium to long term, 4% above the rate of infl ation (defi ned as the Consumer Price Index). Regardless of market conditions, it also aims to provide a positive return over a maximum period of 3 years

Lead portfolio manager:Toby Nangle

Investment universe:Dynamic asset allocation can vary signifi cantly to refl ect Threadneedle’s asset allocation views

Investment parameters:n Equities range: 0-75%

n Fixed income range: 0-100%

n Commodities range: 0-20%

n Property range: 0-20%

n Alternatives range: 0-10%

Neutral allocation:Unconstrained by any index

Approach:Long only, unlevered. Primarily investing in internal funds, supplementing with direct holdings and beta products

Information for Investment Professionals

THREADNEEDLE Dynamic Real Return Fund

Moore Stephens factsheets

MS Bottom Line newsletter

Reports

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PROPOSED DESIGN: SEMI-TRANSPARENT GLASS PARTITION

IN FRONT OF THE LIFTS WITH FLOOR NUMBERS AND DIRECTIONS, AS WELL AS A STATEMENT OF COMPANY POLICY ON RISK MANAGEMENT

INCLUDING THE QUOTES FROM SEVERAL TEAM LEADERS

Foyles Promotional material design on Foyles expansion