Test Job #01056 - IFSL Equilibrium Balanced Portfolio A Accumulation© 2017 Transmission Media Inc.

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Non-UCITS retail scheme Key Investor InformationThis document provides you with key investor information about this fund. It is not marketingmaterial. The information is required by law to help you understand the nature and the risks ofinvesting in this fund. You are advised to read it so you can make an informed decision aboutwhether to invest.

IFSL Equilibrium Balanced Portfolio A Accumulationa sub-fund of the IFSL Equilibrium OEIC (ISIN: GB00BYXHQX09)

This fund is managed by Investment Fund Services Limited (IFSL)

Objectives and Investment Policy

The objective of the fund is to deliver returns greater than cash orinflation (whichever is the higher*) over the long term, 5 years,through a mixture of income and capital growth. Returns are notguaranteed over any time period therefore capital is at risk.

*Cash is measured as GBP (Sterling) LIBOR over a three monthrolling period and inflation as the UK Consumer Prices Index forthese purposes.

The portfolio will principally invest in collective investment schemes(both regulated and unregulated), across a mixture of asset classesincluding equities, property, fixed interest, alternatives cash and nearcash deposits. The fund may also be exposed to other transferablesecurities and money market instruments.

Exposure to the above asset classes will be achieved either byinvesting in the asset directly (although the fund may not invest inimmovable property directly) or, by investing indirectly typically

through a diversified portfolio of collective investment schemes and/or structured products.

Derivatives may be used by the fund for investment purposes andalso for the purposes of efficient portfolio management (includinghedging).

The fund will typically have around half the portfolio in equities andrelated instruments but this can vary depending on the manager’soutlook at the time.

Within the equity allocation the fund will invest in a mixture of UK andoverseas investments.

Income is not distributed but is rolled up (accumulated) into thevalue of your investment.

You can sell all or part of your investment on a daily basis subject tothe minimum holding requirements.

Risk and Reward Profile

Lower risk Higher riskTypically lower rewards Typically higher rewards

1 2 3 4 5 6 7

The risk and reward indicator above aims to provide you with anindication of the overall risk and reward profile of the fund. It iscalculated based on the volatility of the fund using weekly historicreturns over the last five years. If five years data is not available for afund, the returns of a representative portfolio are used.

As the risk and reward indicator is calculated based on historicaldata it may not be a reliable indication of the future risk profile of thefund. The risk category shown is not guaranteed and may changeover time. The lowest category does not mean a risk-freeinvestment. The value of investments and the income from themmay fall as well as rise and you may not get back the amount youoriginally invested.

This fund has been measured as 3 because it has experienced lowto moderate volatility historically. The funds volatility is affected byvarious factors including:

The fund will be exposed to stock markets. Stock Market prices canmove irrationally and be affected unpredictably by diverse factors,including political and economic events.

The fund will have significant exposure to bonds, the prices of whichwill be impacted by diverse factors, including changes in interestrates, inflation expectations and perceived credit quality.

Fluctuations in interest rates may affect the value of your investment.

When interest rates increase this is likely to result in a fall in thecapital value of fixed interest securities, such as bonds andconvertibles.

Changes in exchange rates may affect the value of your investment.

The fund may invest a large part of its assets in other funds forwhich investment decisions are made independently of the fund. Ifthese investment managers perform poorly, the value of yourinvestment is likely to be adversely affected. Investment in otherfunds may also lead to duplication of fees and commissions.

Risks which are not adequately captured by the risk indicatorinclude:

In certain market conditions some assets in the fund may be lessliquid and therefore more difficult to sell at their true value or in atimely manner.

The fund's investments may be subject to counterparty risk, which isthe risk that a party to a transaction will fail to meet its obligations.Some or all of these obligations may arise as a result of the fundholding investments where returns are linked to financial contracts,known as derivatives.

A more detailed description of the risks that apply to this fund canbe found in the prospectus.

Test Job #01056 - IFSL Equilibrium Balanced Portfolio A Accumulation© 2017 Transmission Media Inc.

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Charges

The charges you pay are used to pay the costs of running the fund,including the costs of marketing and distributing it. These chargesreduce the potential growth of your investment. The entry and exitcharges shown are maximum figures. In some cases you may payless - you can find this out from your financial adviser.

As this share class does not have 12 months accounting data theongoing charges figure is based on estimated expenses. Chargesmay vary from year to year. It excludes:

• Portfolio transaction costs, except in the case of an entry/exitcharge paid by the non-UCITS when buying or selling units inanother collective investment undertaking.

For more information about charges, please see Sections 23 - 25 ofthe fund’s Prospectus, which is available at www.ifslfunds.com.

One-off charges taken before or after you invest

Entry Charge 5.00%

Exit Charge None

This is the maximum that might be taken out of your money before itis invested.

Charges taken from the fund over each year

Ongoing Charges 1.01%

Charges taken from the fund under certain conditions

Performance Fee None

Past Performance

As the fund has no performance data for one complete year, there isinsufficient data to provide a useful indication of past performance.

This fund was launched on 1 November 2017.

This share class was launched on 1 November 2017.

Practical Information

If you wish to sell all or part of your investment please write to us atInvestment Fund Services Limited, Marlborough House, 59 ChorleyNew Road, Bolton, BL1 4QP or telephone 0808 178 9321. Yourdeal will be placed at the next valuation point after we receive yourinstruction.

The Prospectus, Annual and Half-Yearly Report and Accounts forthe fund are available free of charge at www.ifslfunds.com or bycalling 0808 178 9321. The documents are available in English only.

For further details including how to invest please see theSupplementary Information Document which is available atwww.ifslfunds.com or call 0808 178 9321

Other share classes of the fund may be available. For further detailsplease see the fund’s Prospectus which is available atwww.ifslfunds.com. The Prospectus, Annual and Half-YearlyReports cover all the funds within the OEIC.

You may switch to any fund in the range on request, subject to aswitching charge.

The Depositary for the fund is HSBC Bank Plc.

UK taxation may have an impact on your personal tax position.

Fund prices are available on our website www.ifslfunds.com. Someprice information is also published in the Financial Times.

The sub-funds of the OEIC are segregated by law. In the unlikelyevent of one sub-fund having debts, the assets of the other fundsmay not be used to settle these.

The Remuneration Policy of Investment Fund Services Limited isavailable from www.ifslfunds.com. This policy describes howremuneration and benefits are calculated and the governancearrangements in place around these payments. A paper copy of thispolicy is also available free of charge upon request.

This fund is authorised in the United Kingdom and regulated by the Financial Conduct Authority.Investment Fund Services Limited (IFSL) is authorised in the United Kingdom and regulated by the Financial Conduct Authority.This key investor information is accurate as at 01.11.2017