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Advantages of Global investing

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Advantages of Global investing

2

Exposure to growth/

opportunities

Reduced risk

Better risk adjusted

return

3

Opportunity to invest in themes not available in India

Source: Bloomberg, Axis AMC Research. Data as on 31st March 2021. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration only and should not be construed as recommendation. The fund manager(s) may or may not choose to hold the stock mentioned, from time to time.

• India has ~5,000 companies listed on the exchange but accounts for only about 3% share of world’s market capitalization.

• Global markets are home to companies of a global stature with the kind of scale, customer base, network effect and competitive moat that very few Indian companies can achieve of emulating, in the near term.

• Sunrise sectors like electric vehicles, AI, renewables are not present or are limited in India.

• These are the leaders of the new economy and can be the future giants.

Exposure to growth/ opportunities

4

An opportunity to capture the value created by disruptive growth

Disruption is all around us and accelerating

Disruption begets innovation, innovation

creates disruption

Disruptive growth is an opportunity for

investors to capture significant value

creation over time

5

Tech power grows exponentiallyVirtuous circle of convergence and self-improvement drives Tech ‘hockey stick’

Source: Accenture. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration only and should not be construed as recommendation. The fund manager(s) of underlying fund may or may not choose to hold the stock mentioned, from time to time

1980 1990 2000 2010 2020 2025

‘2 x every 2 years’ Moore’s Law extending

beyond semi-conductors

PC Internet Social mediaPlatforms

ArtificialIntelligence

IoT

Blockchain

Quantumcomputing

Robotics

Memory Bandwidth

ConnectivityPower

Software

6

Technology TransformationCOVID has accelerated the adoption of new technologies

Source: BofA Global Research. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration only and should not be construed as recommendation. The fund manager(s) of underlying fund may or may not choose to hold the stock mentioned, from time to time

Technology Accelerating

Data centers

Cybersecurity

Semiconductors

Health tech

Video streaming

eSports

eCommerce

Smart cities

Big data and AI

5G infrastructure

Cloud computing

Quantum computing

Urban vertical farming

Autonomous vehicles

Robots and automation

Education technology

7

Faster innovation cycles raising the bar on ‘survival of the fittest’

Source: Innosight, 2018 Corporate Longevity Forecast: Creative Destruction is Accelerating.

Actual and forecast average company lifespan on the S&P500 1967–2027

12 yearsForecasted average company lifespan

on the S&P 500 in 2027

8

Diversified approach across 9 sub-themesMaterial disruptive change

Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration only and should not be construed as recommendation. The fund manager(s) of underlying fund may or may not choose to hold the stock mentioned, from time to time

Fintech Digitalisation E-commerce

Environmental Healthcare New Consumer

Communications Food and Water Automation

9

Disruptive businesses aren’t the only prospect There are opportunities and pitfalls across the value chain

Source: Schroders, as at 31 December 2020.

Disruptor Enabler Adaptor Denier

The incumbent going down/losing ground

The source, or cause of innovative

disruption

The conduit for change

The positive respondent

Nokia couldn’t matchcompetition

10

HealthcareVaccine boost

Disruptor Enabler Adaptor

Source: Schroders. The Scheme shall invest in Schroder International Selection Fund Global Disruption (‘Underlying Fund’) and shall not hold stocksdirectly in its portfolio. The Underlying fund consist of diversified portfolio of foreign securities and may or may not choose to hold stocks mentioned above.A case study for illustration purpose only. Not intended as advise/ recommendation. The sector(s)/stock(s)/issuer(s) mentioned in this presentationshould not be construed as any research report/recommendation to buy/ sell/ hold. The Fund manager may or may not choose to have any future positionin these sector(s)/ stock(s)/ issuer(s).For details of portfolio holding of the underlying fund as on December 31, 2020 kindly visit our website (Click Here).

BioNTech illumina AstraZenca

11

Energy transitionLooking across the renewables spectrum

Disruptor Enabler Adaptor

Source: Schroders. The Scheme shall invest in Schroder International Selection Fund Global Disruption (‘Underlying Fund’) and shall not hold stocksdirectly in its portfolio. The Underlying fund consist of diversified portfolio of foreign securities and may or may not choose to hold stocks mentioned above.A case study for illustration purpose only. Not intended as advise/ recommendation. The sector(s)/stock(s)/issuer(s) mentioned in this presentationshould not be construed as any research report/recommendation to buy/ sell/ hold. The Fund manager may or may not choose to have any future positionin these sector(s)/ stock(s)/ issuer(s).For details of portfolio holding of the underlying fund as on December 31, 2020 kindly visit our website (Click Here).

Vestas Alfen Iberdrola

12

FintechIs Blockchain the next link?

Source: Schroders. The Scheme shall invest in Schroder International Selection Fund Global Disruption (‘Underlying Fund’) and shall not hold stocksdirectly in its portfolio. The Underlying fund consist of diversified portfolio of foreign securities and may or may not choose to hold stocks mentioned above.A case study for illustration purpose only. Not intended as advise/ recommendation. The sector(s)/stock(s)/issuer(s) mentioned in this presentationshould not be construed as any research report/recommendation to buy/ sell/ hold. The Fund manager may or may not choose to have any future positionin these sector(s)/ stock(s)/ issuer(s).For details of portfolio holding of the underlying fund as on December 31, 2020 kindly visit our website (Click Here).

Disruptor Enabler Adaptor

Square Visa J.P. Morgan

13

Semiconductor: The lifeblood of digital age

Source: Forbes, Company data, as at 31 March 2021. Data updated as on 31st March, 2021.1, Source: Deloitte, Statista, Fortune Business Insights.Data as on Mar 2021,2. Source: Persistence Market Research. Data as on April 20203, Source: CompTIA. Data as on November 2020,4 Source: UNCTADTheScheme shall invest in Schroder International Selection Fund Global Disruption (‘Underlying Fund’) and shall not hold stocks directly in its portfolio. TheUnderlying fund consist of diversified portfolio of foreign securities and may or may not choose to hold stocks mentioned above. A case study for illustrationpurpose only. Not intended as advise/ recommendation. The sector(s)/stock(s)/issuer(s) mentioned in this presentation should not be construed as anyresearch report/recommendation to buy/ sell/ hold. The Fund manager may or may not choose to have any future position in these sector(s)/ stock(s)/ issuer(s). .For details of portfolio holding of the underlying fund as on December 31, 2020 kindly visit our website (Click Here).

Technological progress is dictated by semiconductor progress

Enabler

Global Market$500Bn+1

• World’s largest and leading pure play semiconductor foundry.

• Key supplier to marquee customers like Apple, AMD, Nvidia, Qualcomm.

• World’s 2nd largest technology company by revenue, #8 World's Most Valuable Brands 2020: Forbes

• It’s a leader in B2B/C components such as lithium-ion batteries, mobiles, semiconductors, image sensors, camera modules and displays.

• Leader in analogsemiconductor industry with over 80,000 analog IC’s and embedded processors.

• Storied firsts: First Commercial Silicon Transistor, Integrated Circuit, Speech Processing

TSMC Samsung Electronics Texas Instruments

Enables Consumer Electronics IT Industry E-Commerce

Market Size 3 Tn+2 5 Tn+3 29 Tn+4

14

On-line payments: Finance meets high tech

Source: Company data, as at 31 December 2020. Revenue data in USD. 1The Nilson report – Total Global Card Purchases in 2016The Scheme shall invest in Schroder International Selection Fund Global Disruption (‘Underlying Fund’) and shall not hold stocks directly in its portfolio.The Underlying fund consist of diversified portfolio of foreign securities and may or may not choose to hold stocks mentioned above. A case study forillustration purpose only. Not intended as advise/ recommendation. The sector(s)/stock(s)/issuer(s) mentioned in this presentation should not beconstrued as any research report/recommendation to buy/ sell/ hold. The Fund manager may or may not choose to have any future position in thesesector(s)/ stock(s)/ issuer(s). . For details of portfolio holding of the underlying fund as on December 31, 2020 kindly visit our website (Click Here).

Payments companies that revolutionized p2p money transfer, e-commerce, mobile and point-of-sale

Disruptor

• One of the world’s largest and fastest growing payment gateway

• 23 Global Offices

• 62.4% CAGR 5 Year Revenue Growth

• #67 World's Most Valuable Brands 2020: Forbes

• 202 markets

• 377 million active accounts

• 18.3% CAGR 5 Year Revenue Growth

• Founded by Twitter Co-Founder

• Also owner of Tidal (Audiophile Music Streaming)

• 49.6% CAGR 5 Year Revenue Growth

Adyen Paypal Square

High GrowthGrowth in a Growth industry

ScalableGlobal Platforms

Global Market$21tn+1

15

Entertainment Redefined

Source: Company data, Newzoo. as at 31 December 2020. Revenue data in USD.The Scheme shall invest in Schroder International Selection Fund Global Disruption (‘Underlying Fund’) and shall not hold stocks directly in its portfolio. The Underlyingfund consist of diversified portfolio of foreign securities and may or may not choose to hold stocks mentioned above. A case study for illustration purpose only. Notintended as advise/ recommendation. The sector(s)/stock(s)/issuer(s) mentioned in this presentation should not be construed as any research report/recommendationto buy/ sell/ hold. The Fund manager may or may not choose to have any future position in these sector(s)/ stock(s)/ issuer(s). For details of portfolio holding of theunderlying fund as on December 31, 2020 kindly visit our website (Click Here).

The mindshare and timeshare of everyone’s life has been changed forever

Disruptor

• Netflix is a Global OTT platform as well as a production house with Netflix Original content

• Operational in 190 countries with 204 Mn subscribers globally

• 86.4% CAGR 5 Year EPS Growth

• One of the most successful standalone interactive entertainment and gaming corporations

• Known for Games like Candy Crush, Call of Duty, World of Warcraft, Diablo

• 19.8% CAGR 5 Year EPS Growth

• Leading Audio and media Streaming Service, Instead of a fixed price per song or album sold, Spotify pays royalties based on the number of artist streams as a proportion of total songs streamed.

• Operates in 178 countries and has a catalogue of over 70 million songs

Netflix Activision Blizzard Spotify

345 Mn Active Users155 Mn Premium Subscribers

2.69 Bn Gamers

15% of Global Internet Bandwidth

16

6 areas of disruptive focus 2021And some potential drivers

Source: Schroders. The Scheme shall invest in SchroderInternational Selection Fund Global Disruption (‘UnderlyingFund’) and shall not hold stocks directly in its portfolio. TheUnderlying fund consist of diversified portfolio of foreignsecurities and may or may not choose to hold stocksmentioned above. A case study for illustration purposeonly. Not intended as advise/ recommendation. Thesector(s)/stock(s)/issuer(s) mentioned in this presentationshould not be construed as any researchreport/recommendation to buy/ sell/ hold. The Fundmanager may or may not choose to have any futureposition in these sector(s)/ stock(s)/ issuer(s).For details of portfolio holding of the underlying fund as onDecember 31, 2020 kindly visit our website (Click Here).

DNA/RNA-based medicines: BionTech

Power Grid Management: Alfen NV

Travel post-COVID: Booking.com

Fintech evolution: Square

US Sports Betting: Flutter Entertainment

Cloud and Cyber-security: zScaler

1

2

3

4

5

6

Axis Global Innovation Fund of Fund(An open ended fund of fund scheme investing inSchroder International Selection Fund Global Disruption)

18Source: Axis AMC.

Indian Investor

Axis Global

InnovationFoF

Schroder ISF

GlobalDisruption

Domestic Fund International Fund

Product Structure

19

About Schroders

Source: Schroders, as at 31 March 2021. Aum Data as on 31st December 2020.

Investment management is our only business and our goals are completely aligned with those of our clients - the creation of long-term value to assist them in meeting their future financial requirements.

Assets under management

£574.4billion

5,500+ employees

Operating in

37 locations across Europe, the Americas,

Asia, Middle East and Africa

Our environmental social and

governance principles are the foundation of

our philosophy.

2,075+Company

engagements on ESG globally

in 2020.

Over

200years’

experience of investment

markets

20Source: Schroders, as at 31 December 2020. Investment professional employee numbers by role and location. ESG (Environmental, Social and Governance) For illustrative proposes only.

Global investment capability

• Over 400 fund managers and analysts worldwide.

• Over 100 equity analysts and 25 credit analysts.

Regional equity analysts’ research output

• Analysis is style-neutral with a Quality-bias.

• Assessment/ grading reflect regional philosophies and approach and local opportunity set.

• Stocks graded ‘1’– strong buy to ‘4’ – strong sell.AmericasArgentina 2 (E)

BermudaBrazil 4 (E/FI/MA)

Cayman Islands (WM)Chile

MexicoUSA 50 (A/E/FI/MA)

UK and Channel Islands UK 191

(A/E/FI/MA/WM)Channel Islands

5 (A/MA/WM)

Europe and Middle EastDenmarkFrance 2 (A)Germany 6 (A/WM)GibralterItaly 1 (A/MA/WM)Luxembourg

Netherlands (A)SpainSwedenSwitzerland 29 (A/E/FI/MA/WM)UAE 3 (E)

AsiaAustralia 24 (E/FI/MA)China 3 (E) BoComm JVHong Kong 19 (E/FI/MA)India Axis JVIndonesia 5 (E/FI/MA)

Japan 17 (E)Singapore 16 (E/FI/MA/WM)South Korea 7 (E/MA)Taiwan 9 (E/FI/MA)

KeyA Alternatives (Property/EMD/Commodities)E EquitiesFI Fixed IncomeMA Multi-AssetWM Wealth Management

Local research

coverage of 2,000 stocks 1–4 Grades

Earnings growth

2,400 stocks

ESG

Return on

invested capital

Valuation

Quality

Global Research Capability

21

Schroder Global Disruption Team

Portfolio ManagementAlex Tedder + Team

Global Sector

specialist and

analysis

Disruption Advisory Group

Data Insights Unit team of

Over 20 Data scientists /

analysis

Private Equity team sharing insights

from early and late stage

venture investing across sector

Team of 90+

Local analysis

Across11 countries

Quantitative Screening Tools

Source: Schroders, as at 31 March 2021.

22

Using data analysis to surface disruptive growth

Source: Schroders, as at 31 December 2020.

Patent ‘mining’ in healthcare

Patent ‘Noise’

23

Using data analysis to surface disruptive growthPatent ‘mining’ in healthcare

Filtered through AISpecific patent clusters

Track + map versus company investment to generate value trajectories

24

Portfolio Characteristics

Source: Schroders, as at 31 March 2021.

Portfolio weight by thematic drivers Schroder ISF MSCI AllGlobal Disruption Country World

No. of securities 90-120 2,978

Market cap weighted average 3,73,640 2,97,096

5 year EPS growth (hist) 22.3 13.9

Price/ earnings 42.5 25.2

Price/ cash flow 26.6 12.5

Dividend yield 0.6 1.8Disruptors Enablers Adaptors

25

Actively managed to access multiple disruption themes globally

Source: Schroders, as at 31 March 2021. for illustrative purposes only. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration only and should not be construed as recommendation. The fund manager(s) of underlying fund may or may not choose to hold the stock mentioned, from time to time

Fin Tech

Automation

Environmental

Digitalisation

E-Commerce

Communication

Healthcare

New Consumer

PortfolioAllocations

Food & Water

21.4

17.6

12.210.1

8.2

8.1

14.9

7.2 0.4

26

Market cap exposure Incubation bucket – <$10 billion in market cap

Schroder ISF Global DisruptionIncubator* stocks

Source: Schroders, as at 31 March 2021. for illustrative purposes only. Sector(s) / Stock(s) / Issuer(s) mentioned above are for the purpose of illustration only and should not be construed as recommendation. The fund manager(s) of underlying fund may or may not choose to hold the stock mentioned, from time to time. * Incubator stocks are smaller companies which are less established and are at the onset of their journey to scale.

MC $bn Weight

<10 7.4%

10–100 45.5%

> 100 47.1%

Total 100%

Name Weight (%) Market cap ($m)Sensata Technologies Holding 0.5 9,135Globant SA 0.6 8,280Beyond Meat 0.4 8,174ASOS 0.8 7,617Harmonic Drive Systems 0.5 6,516Wyndham Hotels & Resorts 0.7 6,497TOMRA Systems 0.3 6,404ASM Pacific Technology Limited 0.5 5,234Scatec 0.5 4,797Neoen . 0.2 4,669NEL 0.2 4,153Ceres Power Holdings 0.2 2,960Chroma Ate 0.6 2,771TPI Composites 0.4 2,063Quanterix Corp 0.2 1,859Alfen 0.5 1,790Turtle Beach Corp 0.3 413Total 7.5

27

Schroders ISF Global Disruption - Mar 21

Source: Schroders, Bloomberg, Axis AMC. Past performance may or may not sustain in future. Returns greater than 1 year are compounded annualized (CAGR).Returns as on 31st March, 2021.The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested. Exchange rate changes may cause the value of any overseas investments to rise or fall. Returns quoted are based on NAV to NAV (Bid to Bid), adjusted for dividends, net of On Going Charge. The above performance is for Share Class C Accumulation of SISF Global Disruption launched on 12th December 2018 (the Scheme may invest in any other share class of SISF Global Disruption).

Investment Objective: To provide capital growth by investing in innovative companies that are redefining their industries or are successfully adapting to the change.

Benchmark: MSCI ACWI NR Fund inception: Dec 2018

Fund AuM: US$ 343 mn

Performance (in INR):1 Year Since

Inception

SISF Global Disruption 66.6% 33.4%MSCI ACWI Net - Total Return 50.1% 19.4%

28

Sector and Geographic Allocation - Mar 21

Source: Schroders; Data as on 31st March, 2021. Above geographies/sectors/stocks may or may not be a part of portfolio. Portfolio Allocation is based on the prevailing market conditions and is subject to changes depending on the fund manager’s view of the markets.

0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0%

North America

Emerging Markets

Continental Europe

Japan

United Kingdom

Pacific X Japan

[Cash]

Geographical Breakdown

Portfolio (%) Benchmark (%)

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0%

Information Technology

Communication Services

Consumer Discretionary

Industrials

Health Care

Financials

Consumer Staples

Materials

Utilities

Real Estate

Energy

[Cash]

Sector

Portfolio (%) Benchmark (%)

29

Schroder Global Disruption - Top 10 Holdings - Mar 21

Source: Schroders; Data as on 31st March, 2021. Above geographies/sectors/stocks may or may not be a part of portfolio. Portfolio Allocation is based on the prevailing market conditions and is subject to changes depending on the fund manager’s view of the markets.

Top 10 holdings (%)

Holding Name %

Alphabet Inc 4.50%

Microsoft Corp 4.30%

Amazon.Com Inc 3.60%

TSMC 3.00%

Apple Inc 2.60%

Visa Inc 1.90%

Blackrock Inc 1.90%

Booking Holdings Inc 1.80%

Texas Instruments Inc 1.70%

ASML 1.70%

30

Alex re-joined Schroders in July 2014 as Head of Global Equities, having commenced hisinvestment career at Schroders in 1990 with responsibility for promoting European Equitymandates alongside Schroders’ Private Equity operation. In 1994 he moved to Deutsche AssetManagement Ltd, where he worked in various capacities including Managing Director andHead of International Equities/Portfolio Manager. He was lead manager of the DeutscheInternational Select Equity Fund (MGINX) from inception in May 1995. He also previouslyserved as co-manager of DWS International Fund, DWS Worldwide 2004 Fund, DeutscheGlobal Select Equity Fund and Dean Witter European Growth Fund. Alex re-joins Schrodersfrom American Century Investments in New York, where he worked from 2006 as Senior VicePresident and Senior Portfolio Manager (Global and Non-US Large Cap Strategies). He waslead manager of the American Century International Growth Fund (TWIEX) from July 2006 toMarch 2014. A dual citizen of UK and Switzerland, Alex was educated at Winchester College(UK) and University of Freiburg/Fribourg, Switzerland, where he obtained a Masters’ Degree inEconomics and Business Administration.

Alex Tedder

Schroder ISF Global Disruption - Fund Managers

31

Taxation on Other than Equity Oriented Mutual Fund

Aforementioned tax rates shall be increased by applicable surcharge and health and education cess.*Assuming the investor falls into highest tax bracket. In view of the individual nature of tax consequences, each Investor / Unit holder is advised to consult his / her own professional tax advisor.

Resident Investors Non Resident Investors

Capital Gains:Long Term Capital Gains(Held for a period of more than 36 Months)

20% with indexation 10% (Indexation benefit not available)

Short Term 30%* 30% (40% in case of Foreign companies)*

Dividend Taxed in the hands of unitholders at applicable rate under the provisions of the Income-tax Act, 1961 (Act)

Taxed in the hands of unitholders at the rate of 20% u/s 115A of the Act (plus applicable surcharge and cess)

32

Fund Facts

Note: Investors will be bearing the recurring expenses of the scheme in addition to the expenses of other schemes in which Fund of Funds scheme makes investment.* If redeemed / switched-out within 12 months from the date of allotment: For 10% of investment: Nil, For remaining investment: 1%, If redeemed/switched out after 12 months from the date of allotment: Nil

Name Category Fund Manager

Minimum Application Benchmark Exit

Load

Axis Global Innovation

Fund of Fund

Fund of Fund

scheme

Mr. Hitesh Das (For Foreign Securities) &

Mr. R. Sivakumar

` 5,000 and

in multiples of ` 1/-

thereafter

MSCI AC World (Net TR) (INR)

Upto 10% Nil, 1% for 12 Months*

33

Product Labelling

Fund Name Riskometer Product Labelling

Axis Global Innovation Fund of Fund(An open ended fund of fund scheme investing in Schroder International Selection Fund Global Disruption)

This product is suitable for investors who are seeking*: • Capital appreciation over long term.• Investment in Schroder International Selection Fund Global

Disruption, an equity fund that aims to provide capital growth by investing companies worldwide which benefit from disruption

* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

(The product labelling assigned during the New Fund Offer is based on internal assessment of the Scheme Characteristics or model portfolio and the same may vary post NFO when actual investments are made)

34

Disclaimer & Risk Factors

Past performance may or may not be sustained in the future.

Statutory Details: Axis Mutual Fund has been established as a Trust under the Indian Trusts Act, 1882, sponsored by Axis Bank Ltd. (liability restricted to ` 1Lakh).

Trustee: Axis Mutual Fund Trustee Ltd.

Investment Manager: Axis Asset Management Co. Ltd. (the AMC).

Investors will be bearing the recurring expenses of the scheme in addition to the expenses of other schemes in which Fund of Funds scheme makes investment.

The Scheme shall invest in Schroder International Selection Fund Global Disruption (‘Underlying Fund’) and shall not hold stocks directly in its portfolio. TheUnderlying fund consist of diversified portfolio of foreign securities and may or may not choose to hold stocks mentioned above.

Risk Factors: Axis Bank Limited is not liable or responsible for any loss or shortfall resulting from the operation of the scheme.

This document represents the views of Axis Asset Management Co. Ltd. and must not be taken as the basis for an investment decision. Neither Axis Mutual Fund,Axis Mutual Fund Trustee Limited nor Axis Asset Management Company Limited, its Directors or associates shall be liable for any damages including lost revenueor lost profits that may arise from the use of the information contained herein. No representation or warranty is made as to the accuracy, completeness or fairnessof the information and opinions contained herein. The AMC reserves the right to make modifications and alterations to this statement as may be required from timeto time.

Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.

35

Disclaimer & Risk Factors

Source: MSCI. The MSCI information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as abasis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or arecommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not betaken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user ofthis information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling,computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties oforiginality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Withoutlimiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including,without limitation, lost profits) or any other damages. (www.msci.com)

Disclaimer & Risk Factors - Schroders

36

Marketing material for professional investors and advisers only. Past performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up and investors may not get back the amount originally invested. Exchange rate changes may cause the value of any overseas investments to rise or fall.Schroders has expressed its own views and opinions in this document and these may change. This information is not an offer, solicitation or recommendation to buy or sell any financial instrument or to adopt any investment strategy. Nothing in this material should be construed as advice or a recommendation to buy or sell. Information herein is believed to be reliable but we do not warrant its completeness or accuracy.Any data has been sourced by us and is provided without any warranties of any kind. It should be independently verified before further publication or use. Third party data is owned or licenced by the data provider and may not be reproduced, extracted or used for any other purpose without the data provider’s consent. Neither we, nor the data provider, will have any liability in connection with the third party data.The material is not intended to provide, and should not be relied on for accounting, legal or tax advice. Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions. No responsibility can be accepted for error of fact or opinion.The forecasts included in this presentation should not be relied upon, are not guaranteed and are provided only as at the date of issue. Our forecasts are based on our own assumptions which may change. We accept no responsibility for any errors of fact or opinion and assume no obligation to provide you with any changes to our assumptions or forecasts. Forecasts and assumptions may be affected by external economic or other factors. Any references to securities, sectors, regions and/or countries are for illustrative purposes only. Schroders will be a data controller in respect of your personal data. For information on how Schroders might process your personal data, please view our Privacy Policy available at www.schroders.com/en/privacy-policy or on request should you not have access to this webpage. For your security, communications may be recorded or monitored. Our Schroders sustainability accreditation helps investors distinguish how ESG factors are considered across our products. This fund has been awarded an Integrated accreditation. ESG factors are embedded into the investment process and can be clearly evidenced. There is a strong commitment to stewardship and company engagement. For further information about our Schroders Sustainability Accreditation please visit www.schroders.lu/sustainabilityaccreditationIssued in June 2020 by Schroder Investment Management (Europe) S.A., 5, rue Höhenhof, L-1736 Senningerberg, Luxembourg. Registration No B 37.799. Distributed in the UK by Schroder Investment Management Ltd, 1 London Wall Place, London EC2Y 5AU. Registration No 1893220 England. Authorised and regulated by the Financial Conduct Authority. GJE000094.

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