RISK WARNINGS

Investments – The value of investments and income from them can go down. You may not get back the original amount invested.

Smaller Companies – Some funds will carry greater risks in return for higher potential rewards. Investment in smaller company funds can involve greater risk than is customarily associated with funds investing in larger, more established companies. Above average price movements can be expected and the value of these funds may change suddenly.

Emerging Markets – Some funds will carry greater risks in return for higher potential rewards. Investment in emerging market funds can involve greater risk than is customarily associated with funds that invest in developed, more established markets. Above average price movements can be expected and the value of these funds may change suddenly.

Currency – Changes in the rates of exchange between currencies may cause your investment and any income from it to fluctuate in value.

Taxation – Information is based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from taxation, are subject to change.

Past performance – Past performance is not a reliable indicator of future performance.

Pensions – (plus any of the above depending on the content of the promotion) A Pension is a long term investment the fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.