The Fund aims to achieve investment growth over the long term (5 years, or more). It also looks to outperform the MSCI ACWI Index (“the Index”) over rolling 3-year periods, after the deduction of charges.

The Fund is actively managed, and invests at least 75% in a concentrated portfolio of shares of companies worldwide. There is no restriction on size, but investment tends to focus on larger companies.

The Index represents the share performance of large and medium-sized companies worldwide and provides a suitable target benchmark against which Fund performance will be evaluated over time.

The Investment Manager selects companies it has a high conviction that the current share price does not reflect the prospects for that business, and typically invests in fewer than 50 companies, including some not within the Index. These companies are chosen across different sectors and regions, with significant sector and share weightings taken at the discretion of the Investment Manager.

The Investment Manager also seeks to create a portfolio that compares favourably against the Index over rolling 12-month periods, when assessed using the Columbia Threadneedle ESG Materiality Rating model.

This model (developed and owned by Columbia Threadneedle Investments) analyses company data to assess how effectively material environmental, social and governance (ESG) risks and opportunities are being managed. If sufficient data is available, the combined results are expressed as a numerical rating to indicate how much exposure a company has to material ESG risks and opportunities in a particular industry.

Whilst the Fund may still invest in companies that have poor ESG Materiality ratings, at least 50% of the portfolio is invested in companies with strong ratings.

The Investment Manager engages with companies with a view to influencing management teams to address material ESG risks and improve their ESG practices.

Columbia Threadneedle Investments is a signatory to the Net Zero Asset Managers Initiative and has committed to an ambition to reach net zero emissions by 2050 or sooner for a range of assets, including the Fund. As such, the Investment Manager will proactively engage with companies to assist with progressing this and may disinvest from those not meeting the minimum standards.

The Fund only invests in companies that follow good governance practices. It does not invest in companies which derive revenue from industries or activities above the thresholds shown: tobacco production (5%); nuclear weapons – indirect involvement (5%), conventional weapons – military, or civilian firearms (10%), and thermal coal – extraction or power generation (30%), providing a company is not engaged in new coal projects.

The Fund excludes companies that have direct involvement in nuclear or controversial weapons, and companies determined to have breached international standards and principles.

The Fund may invest in other securities, collective investment schemes (including funds managed by Columbia Threadneedle companies), money market instruments, deposits, and cash. Derivatives may only be held with the aim of reducing risk or managing the Fund more efficiently.

The investment objective of the Company is to deliver capital appreciation and income.

The Fund will seek to achieve this investment objective through at least 70% investment in and/or exposure to a combination of investments in UK commercial property and securities of property and property related issuers listed or operating in the countries of the European Union and/or the European Economic Area.

While the securities in which the Fund invests will mainly be equity securities (ordinary shares in companies), investment may also be made in fixed interest securities (securities that pay either a fixed or variable level of income on a periodic basis and generally repay a specified amount at a pre-determined date) and securities convertible into equities (which pay a fixed rate of interest with an option to convert into equities at a pre-determined price on a specified date).

The Fund may use derivatives (an investment contract between the Fund and a counterparty the value of which is derived from one or more underlying equities) for investment purposes, as well as for efficient portfolio management to maintain, increase or reduce exposure to particular securities or market indices. Such derivatives may include, but will not be restricted to, swaps, contracts for difference, forward currency contracts and financial futures and options.

The Portfolio may invest all or part of its assets in cash or money market instruments (including government securities) if, in the opinion of the Fund Manager, the prevailing market and economic conditions warrant the adoption of such a policy.

Up to 10% of the Portfolio may be invested in separately managed funds (including collective investment schemes) investing predominantly in securities in which the Fund may invest.

Non-sterling investments may be hedged back to sterling.

The Fund aims to achieve income with capital growth over the long term (5 years or more). The Fund seeks to provide an income yield higher than the MSCI All Country World Index over rolling 3-year periods, after the deduction of charges.

The Fund will invest at least 90% of its assets in sustainable investments, considered for this Fund to be shares of companies that derive, or are on a credible short to medium-term pathway to derive, a significant amount of net revenue (50% or more) from activities that can be directly linked to one or more of the UN Sustainable Development Goals (“SDGs”).

The Fund is actively managed and invests at least 90% in shares of companies which may be located anywhere in the world, be of any size and from any industry or economic sector, subject to the Fund’s sustainable investment criteria.

The application of these criteria mean that the Investment Manager:

(1) avoids investments that are contrary to the goals of making positive contributions to society and/or the environment, taking into account both the product-based exclusions and conduct-based exclusions, set out below;

(2) invests in companies that provide sustainable solutions or that make positive contributions to society and/or the environment; and

(3) improves companies by selecting those that, in the Investment Manager’s opinion, will benefit from active investor engagement.

Product-based exclusions prevent the Fund from investing in securities which derive revenue (over a given threshold) from certain industries or activities, including in Weapons, Tobacco and Fossil Fuel.

In a similar way, conduct-based exclusions rule out the selection of those securities associated with a breach of principles of the UN Global Compact. Further information on the product and conduct exclusions are set out on the Investment Manager’s website at https://docs.columbiathreadneedle.com/documents/CT Sustainable Global Equity Income Fund - Investment Policy - OE6S.pdf

In addition, the Fund will not invest in companies who, based on the Investment Manager’s proprietary ESG rating methodology, are considered to have poor governance controls relative to their industry peers.

The Investment Manager will focus on investing in companies which the Investment Manager considers are significantly aligned with one or more of the SDGs. This means that the companies in which the Fund invests must either derive a minimum of 50% of revenue from activities which can be directly linked to one of the SDGs or be on a pathway to do so over the short to medium-term.

Additionally, all investments are aligned with one or more of the following sustainability themes as identified by the Investment Manager:

• Connect & protect

• Digital empowerment

• Energy transition

• Health & well-being

• Resource efficiency

• Sustainable cities

• Sustainable finance

If an investment is found to be in breach of the Fund’s exclusion policy, then it will be sold within the following six months.

In the event that a company held by the Fund ceases to meet the Fund’s sustainable investment criteria (particularly where a company’s commitment to sustainability has declined) then in the first instance the Investment Manager will engage the company. This engagement will be to assess whether the Investment Manager can influence the company and whether the company’s position is expected to be sustained. The Investment Manager would expect to see improvement in the company over a 2-3 year period. If an investment is assessed as unsustainable (considered on a case-by-case basis, taking into account the significance of the “breach” and likelihood of improvement), then the Investment Manager will consider divestment.

The Fund has a concentrated portfolio and typically holds between 30 to 50 stocks.

To the extent that the Fund is not fully invested in shares, the Fund may also invest in other transferable securities, other collective investment schemes (which may include schemes managed by the ACD), money market instruments, warrants, cash and near cash. The Fund may use derivatives for the purposes of efficient portfolio management only.

Full details of the applicable revenue and conduct thresholds are provided on the Investment Manager’s website at columbiathreadneedle.com.

The Fund aims to provide income with the prospect of some investment growth over the long term (5 years or more), through investment in bonds that are deemed to be supporting and funding socially beneficial activities and development, primarily in the UK.

The Fund is actively managed, and seeks to maximise its investment exposure to socially beneficial activities and development, based on assessments produced under the Fund’s Social Assessment Methodology (developed by The Big Issue Group and Columbia Threadneedle Investments). The Social Assessment Methodology ensures that social impact considerations are integrated into the investment decision-making process. Investment is directed towards eight social outcome areas: housing and property; community services; education, learning and skills; employment and training; financial inclusion; health and social care; transport and communications infrastructure, utilities and the environment. Eligible Investments are assessed to establish an overall view of the investment’s “social intensity”. Some debt securities will have more direct and tangible social benefits than others, however those selected for investment are considered to have net positive impacts.

A Social Advisory Committee regularly reviews the Social Assessment Methodology and the assessments carried out and may propose amendments or updates over time. An annual report is made available to investors which provides a summary of the Fund’s social impact performance.

The Fund may invest in bonds (usually investment grade) issued by international, public, private or voluntary and/or charitable sector organisations. Cash or near cash will be retained within the Fund for efficient management, and similarly deposits and money market instruments may be held for this reason.

The Fund is not permitted to invest in derivatives for investment purposes, but derivatives may be used with the aim of reducing risk or managing the Fund more efficiently. Derivatives are sophisticated investment instruments linked to the rise and fall of the price of other assets.

The Fund seeks to provide long term growth (combining capital and income) consistent with a balanced volatility level over the long term.

The Fund will gain exposure to a range of global asset classes. At any point the Fund may be invested in any one or more of the following: collective investment schemes, equities (ordinary shares in companies), fixed income securities (securities that pay either a fixed or variable level of income on a periodic basis and generally repay a specified amount at a pre-determined date) including both government and non-government bonds, derivatives (an investment contract between the Fund and a counterparty the value of which is derived from one or more underlying assets), money-market instruments, deposits, cash and near cash, real estate investment trusts and other transferable securities. The Fund may use derivatives for investment purposes as well as for efficient portfolio management.

The Fund is actively managed and the investment manager is not constrained by any particular asset allocation in respect of geography, industry or sector. The collective investment schemes in which the Fund invests may include other schemes promoted by Columbia Threadneedle Investments. Typically, the Fund will maintain, in normal market conditions, an exposure to equities of between 30% - 70% of the value of the portfolio, which in the investment manager’s view, is consistent with the Fund’s aim to maintain a balanced volatility level.

The investment manager will aim to manage the Fund within a medium to long term volatility range. As the Fund is actively managed, the investment manager will determine the asset allocation exposures and ranges which are consistent with the target volatility range. At the investment manager's discretion, particularly in times of market stress, the Fund may not remain within the target volatility range over shorter time periods.