Welcome to Sinfonia - Sinfonia Adviser Site · Welcome to Sinfonia Risk-Targeted Fund Range...

Welcome to Sinfonia Risk-Targeted Fund Range Combinations of funds, which are managed to target levels of risk

02 Sinfonia Asset Management Ltd

Risk-Targeted Fund Range 03

The name Sinfonia captures the ethos of what we are working to achieve. It was developed out of the principle that this asset management company would bring together many individual parts from the investment world and blend them in different ways to create unique solutions for investors

About Sinfonia Asset Management Ltd

Sinfonia Asset Management Ltd brings together the investment skills of the BNP Paribas Group with the rigorous oversight and controls of Investment Fund Services Limited (IFSL) and Natwest, to create market leading investment solutions.

Established in 2008, we have a strong performance history with our range of risk-targeted funds, which are managed by BNP Paribas. Sinfonia Asset Management Ltd is owned by Tenet Group Limited and is available to all UK financial advisers with an investment licence.

Risk-targeted funds give you access to a variety of investments balanced to reflect a particular risk profile, they provide diversified investment solutions without the need to create an expensive individual portfolio. Your financial adviser will work with you to establish your own risk profile, which means you get the benefit of a portfolio designed to match your preferred risk strategy, without the costs normally associated with managing that type of investment.


Bringing the experts together to manage your investment

When you decide to invest your hard-earned money, you’ll understandably want to make sure it’s in safe hands. IFSL Sinfonia is the name of the overall proposition, but within this there are a number of key partners who provide you with the investment expertise you need to be confident your money is working hard and in safe hands.


Investment Fund Services Limited (IFSL) is the Authorised Corporate Director of the IFSL Sinfonia Open Ended Investment Company (OEIC). They are responsible for ensuring the funds are managed in line with the Prospectus and meet regulatory requirements.

IFSL oversee BNP Paribas Investment Partners UK Ltd in their role as Investment Manager, together with BNP Paribas Securities Services, who value and price the OEIC, calculate income and deal with accounts and tax submissions.

Additionally, IFSL are responsible for maintaining the shareholder register and making income payments.

IFSL is authorised and regulated by the Financial Conduct Authority (FCA), and is authorised by HMRC to act as an Individual Savings Account (ISA) manager for the IFSL Sinfonia funds.

IFSL is covered by the Financial Services Compensation Scheme (FSCS). This means that if the company was declared in default and unable to pay any claims against it, the first £50,000 of your investment would be secure.

Natwest act as the Depositary for the OEIC. They are responsible for independently overseeing IFSL and BNPP IP in relation to the IFSL Sinfonia OEIC and act in the best interests of the investors. They also ensure the fund is invested in accordance with its objectives and that the investment manager complies with the regulations.

Natwest is authorised by the Prudential Regulation Authority (PRA) and regulated by the FCA and PRA.

BNP Paribas Investment Partners UK Ltd (BNPP IP) are market leaders in fund of fund investments. As part of one of the largest global investment companies, they have the resources and expertise to actively manage your investment.

They are responsible for the day to day monitoring and rebalancing of the IFSL Sinfonia portfolios to ensure each portfolio continues to meet its objectives both now and in the future.

They adopt a rigorous and clearly structured asset allocation approach to fund selection using a distinctive combination of qualitative and quantitative analysis.

Authorised and regulated by the FCA, BNPP IP have a proven track record of investment expertise.

Financially strong, BNP Paribas Securities Services is a subsidiary of the BNP Paribas Group who act as Custodian for the IFSL Sinfonia funds.

BNP Paribas is rated as A+ by Standard & Poor’s, A+ by Fitch and A1 by Moody’s, so you can be assured that the fund’s assets are being held by a top credit-rated bank.

Be confident your money is in safe hands

Defaqto is an independent financial researcher who provide products and services to support better decision-making. The IFSL Sinfonia funds have been rated 5 diamonds by Defaqto, so you can be assured of the quality and performance of the proposition and understand where our offering sits within the market.

IFSL Sinfonia Risk-Targeted Portfolios, managed by BNP Paribas Investment Partners UK Ltd

The key to balancing risk is to spread your money across a range of investments. This is called diversification.

BNP Paribas Investment Partners (BNPP IP) use diversification to build portfolios that invest in many different types of assets, geographical areas and investment styles. A well-balanced portfolio ensures that even if equities are falling, other assets such as fixed interest and cash can potentially cushion the impact.

At Sinfonia we believe everyone should have the opportunity to benefit from investing in a diversified portfolio, balanced to reflect his or her attitude to investment risk. That’s why, with BNPP IP we’ve developed a range of risk-targeted portfolios that can help you grow your money and manage your risk.

The IFSL Sinfonia portfolios allow you to benefit from:

A professionally allocated portfolio built by BNPP IP specifically to meet the fund objectives

Research and selection of appropriate funds to populate the portfolios

Automatic rebalancing

Day-to-day fund management by BNPP IP, ensuring continuous expert oversight and prudent risk management

Access to funds usually only accessible to institutional investors - Parvest and Parworld


Leading asset manager The 7th largest European asset manager (1) EUR 548 billion(2) in assets under management and advisory

Client – focused organisation A common culture of building meaningful and long-lasting solutions for our clients, with around 600 client facing staff (2)

Strong worldwide presence Around 3,200 employees in 36 countries and 60 investment centres (2)

A multi-specialist model More than 700 investment professionals (2) and many investment partners offering one of the broadest and deepest ranges of solutions in the industry

A rigorous investment approach Fitch Ratings(3) Asset Manager rating: Highest Standards, Stable Outlook ISAE 3402 Type II Report (previously SAS-70 certification) (4)

Backed by BNP Paribas Group Backed by BNP Paribas Group, one of the best rated banks in the world (A+) (5) Highlights: financial stability, transparency, rigorous risk and compliance control

(1) Source: BNPP IP, as of 31 December 2014 | (2) Source: BNPP IP, as of 31 March 2015 | (3) Source: Fitch Ratings, as of 19 September 2014: scope for IP includes BNPP AM, THEAM and FFTW | (4) Source: Deloitte, as of December 2014 | (5) Source: Standard & Poor’s as of 3 July 2014

Socially Responsible Investments (SRI) For over 10 years, BNPP IP have been a pioneer in the development and promotion of Socially Responsible Investment (SRI) products. They take into account SRI factors in all of their activities.

Since 2012, BNPP IP has applied a proprietary policy as a responsible investor, setting out a number of Environmental Social Governance (ESG) criteria of the United Nations Global Compact agreement on human rights, labour standards, protecting the environment, and the fight against corruption.

BNPP IP work with BNP Paribas Group in defining sector policies that govern investments in specific sectors (palm oil and coal-fired power stations) and prohibit investments in other controversial industries (in particular, landmines, cluster munitions and asbestos).

About Parvest and Parworld The Parvest and Parworld funds are usually only accessible to the institutional markets. These funds can be available to bigger institutions for use within other fund management groups’ institutional portfolios.


About BNP Paribas Investment Partners UK Ltd (BNPP IP)

IFSL Sinfonia gives you access to a wide range of assets, including the stock market, balanced to reflect a particular risk profile and offering the potential for growth in line with your objectives.


If your attitude to risk changes over time you can talk to your financial adviser about switching to a more suitable portfolio

Suitable for your long-term needs Your investment objective and risk profile are matched to your portfolio. This means that as long as your risk profile stays the same, you can be confident your investment is still suitable for your needs.

Choice of portfolios to suit a range of risk profiles We offer a range of five risk-targeted portfolios from ‘cautious’ to ‘adventurous’. If your attitude to risk changes over time you can talk to your financial adviser about switching to a more suitable portfolio.

Access to the world’s top investment managers BNPP IP have access to a wide range of research and resources that enables them to select the most suitable funds to meet the portfolio’s investment objective. These funds are predominately from the BNPP IP Parvest and Parworld range, normally only accessed by institutional investors.

Diversification can smooth returns Your money is invested in a mix of equities, fixed interest and other types of investments from across the globe. This creates a diversified portfolio that helps to protect you from sudden drops in any one stock or market.

Tax and cost efficient When you invest in our portfolios, your money is pooled with that from other investors and buys a number of shares in an OEIC. The OEIC structure has several advantages as it reduces the administrative cost and capital gains tax burden when the funds are rebalanced. In addition, BNPP IP can usually access the underlying funds in the portfolio cheaper than if your financial adviser bought them directly as part of a model portfolio, so potentially saving these expenses as well.

Benefits of IFSL Sinfonia, managed by BNP Paribas Investment Partners UK Ltd


You, your financial adviser and Sinfonia in action

We work in partnership with your financial adviser. We believe in the value of financial advice, so our funds are available through financial advisers.

Your financial adviser Sinfonia

You meet your financial adviser You work with your financial adviser to identify your current circumstances, investment objectives, time horizon, capacity for loss and attitude to risk

We provide support materials, which your financial adviser can use to accurately identify these key considerations

Your investment Your money is allocated to the IFSL Sinfonia sub-fund that best meets your attitude to risk

BNPP IP populate the sub-funds to reflect the overall objectives with carefully selected funds

Constantly reviewing your investment

You will agree with your financial adviser the scope and frequency of ongoing services

Your investment is monitored and managed by expert fund managers

Your review Your investment objectives, time horizon, capacity for loss and attitude to risk should be reviewed at regular intervals as agreed with your financial adviser

We produce monthly fund fact sheets, so your financial adviser can keep you up to date with your investment

Po

ten

tial re

turn

/lo

sses

Risk/Volatility

Increasing Risk

Income Portfolio

30%

70%

30% 55%

15%

Cautious ManagedPortfolio 40%

45%

15%

Income & Growth Portfolio

45%

25%30%

Balanced ManagedPortfolio

40%

5%

55%

Adventurous Growth Portfolio

Cash and Fixed Interest Investment

UK Equity

Global Equity


The Investment Process

Client Capacity for Loss

Client Experience

Client Attitude to Risk

Client Objectives

Suitability Assessment

IFSL Sinfonia

Range of Client Solutions


A diversified fund range

We provide a range of five risk-targeted funds rated from low to high investment risk.

There is a risk rating system for investments, which runs from low risk (risk rating 1) through to high risk (risk rating 10). Sinfonia offers funds between risk ratings 3 and 7.


Fund name Investment objective Investor type

IFSL Sinfonia Income Portfolio (Risk-Rating 3)

To provide regular income with some potential for capital growth over the long-term. We aim to achieve this by investing in a diversified portfolio of equities, fixed interest securities, warrants and cash instruments primarily through investment in a portfolio of collective investment schemes. There will be a focus on UK assets.

This portfolio is designed for investors who are willing to accept relatively small amounts of investment risk. The majority of the fund invests in cash and fixed interest securities which offer a relatively stable return compared with equities. Investors understand their investment should be held for the medium to long-term (at least 5 years) and the value and income it provides can fall. This fund may not be suitable for non-taxpayers investing via an ISA. Tax paid on interest-bearing investments held within this fund may not be recovered.

IFSL Sinfonia Cautious Managed Portfolio (Risk-Rating 4)

To provide long-term returns, by a combination of both capital growth and income generation. We aim to achieve this by investing in a diversified portfolioof equities, fixed interest securities, warrants and cash instruments primarily through investment in a portfolio of collective investment schemes. There will be a focus on UK assets.

This portfolio is designed for investors who are able to accept moderate levels of investment risk. With just over half of the fund made up of equities, investors expect a higher capital growth compared with the IFSL Sinfonia Income Portfolio. An investment should be held over medium to long-term and the investor understands that value and any income can fall.

IFSL Sinfonia Income and Growth Portfolio (Risk-Rating 5)

To provide income and capital growth for investors over the long-term. We aim to achieve this by investing in a diversified portfolio of equities, fixed interest securities, warrants and cash instruments primarily through investment in a portfolio of collective investment schemes. There will be a focus on UK assets.

This portfolio is designed for investors who are relatively comfortable about investment risk. They do not set out to invest in risky investments but equally do not avoid them. Investors accept the value of their investment will go up and down and expect higher returns over the long-term (at least 8 years). They understand this is not guaranteed.

IFSL Sinfonia Balanced Managed Portfolio (Risk-Rating 6)

To provide medium to long-term capital growth. We aim to achieve this by investing in a diversified portfolio of equities, fixed interest securities, warrants and cash instruments primarily through investment in a portfolio of collective investment schemes. There will be a focus on UK and European assets.

This portfolio is designed for investors who are relatively comfortable with investment risk in exchange for higher potential returns over the long-term. The majority of their portfolio is invested in equities and fixed interest securities that can fluctuate in value often for long periods of time.

IFSL Sinfonia Adventurous Growth Portfolio (Risk-Rating 7)

To provide long-term capital growth. We aim to achieve this by investing in a diversified portfolio of equities, fixed interest securities, warrants and cash instruments primarily through investment in a portfolio of collective investment schemes. There will be a focus on UK assets.

This portfolio is designed for investors who are positive about taking on investment risk aiming for high long-term investment returns. They are not concerned if the value of their investment falls in the short to medium-term. The value of their investment usually reflects the full extent of sudden changes in stock markets.


Why consider investing in cash and fixed income investments?

It’s a question asked by many investors following recent stock market fluctuations, but if you want to pay off your mortgage early, fund your child’s education or boost your retirement income, then investing can help you reach those life-changing financial goals.

Saving into a bank or building society account may be safer in the short-term, but the current low interest rates are seriously affecting returns. In fact many interest rates are lower than inflation, which means that in real terms your money isn’t growing at all.

Investing in the stock market has traditionally provided better returns over the long-term than those offered by banks and building societies. Stock market investments should be considered long-term investments and you should remember that they carry more risk than a bank or building society deposit as the value of your investment can go down as well as up, and there is always a risk that you may not get back what you invested.

However, choosing the right stock market investment can be difficult. With over 55,000 funds on the market, you’d be forgiven for not knowing where to invest. One of the best places to start is to decide how much risk you want to take with your money.

Please remember that past performance is not a guide to future performance. The value of an investment and your income are not guaranteed and can fall as well as rise as a result of market fluctuations. You may not get back the amount originally invested.

This chart assumes an investment in 2005. Of course, if the investment was made in earlier or later years, the picture would change.


Fortunately there’s an alternative

Consider increasing your savings with inflation as this helps protect the real purchasing value of the money saved up


Benefits of regular investing

When investing your hard earned money, timing is important. When do you invest? When do you withdraw? If we all could predict the future, becoming a millionaire would be easy. We’d simply invest when the market was at its lowest and withdraw when it has hit its highest point. If only life was that kind.

This is where the benefits of ’pound cost averaging’- or, in laymen’s terms, regular saving - can really help investors. Pound cost averaging works on the basis that smaller, regular contributions to an investment, rather than a lump sum, can even out the impact of market fluctuations. Simply put, pound cost averaging allows savers to benefit from market volatility over the long-term by investing small amounts regularly, because it allows them to buy units more cheaply on average.

The effect of pound cost averaging in terms of potential return is that the amount of potential loss or gain is reduced when compared to an equivalent lump sum investment made at a single point in time.

An investment that has a steadily increasing price will not provide additional benefits to the regular investor. Indeed, if this were the case, the lump sum investment would provide a higher return over the same period. For an investor to benefit from pound cost averaging, some downward moves in price during the period are essential.

Saving regularly can help you reach your goals

Most people have goals they’re looking to achieve in the future such as paying for their son or daughter’s education, that dream holiday, a deposit for a house, or maybe just to build their wealth. Whatever your own individual goals, regular saving can help you achieve them. By putting away a regular amount each month, say £50-£100, you can potentially benefit from the up and down movement of unit/share prices over time to accumulate a valuable investment sum.

We appreciate that not everyone has spare money burning a hole in their pocket each month, but if you simply invested a pay rise or perhaps the amount you’ve been paying into a loan when it’s been paid off, then you won’t feel the hit so much. It then simply becomes a habit that quickly becomes the norm. The trick is to not dip into it as you will prevent it from building up and stunt the growth of the investment.

With the help of good quality financial advice, you can save your money into an investment that is designed to fit your capacity for loss, attitude to risk and individual circumstances and aspirations.

Your financial adviser will be happy to discuss this approach in further detail with you, should you have any further questions.

Diversification reduces risk

Predicting market movements over the long-term is impossible. It is very rare for a single asset class to outperform another consistently. That’s why it makes sense to invest in a wide range of different assets rather than try to predict short-term market movements. Over time, a diversified portfolio could smooth your overall return, giving you a more balanced and consistent outcome compared to a single asset portfolio.

Your financial adviser can help you decide which IFSL Sinfonia portfolio best suits your personal circumstances, time horizon, capacity for loss and attitude to risk. Each portfolio invests in a wide range of assets within a defined risk profile. Your financial adviser will match your investment risk profile with the most suitable portfolio.

What is an asset class? An asset is a type of investment. Assets are grouped into four main classes called equities, fixed interest, property and cash.


BEST 10.51 7.06 10.45 41.00 18.89 50.71 18.47 36.44 16.62 57.72 22.93 21.82 18.97 31.33 19.30

RE

TU

RN

S

6.91 4.73 7.12 34.08 15.77 43.51 18.12 34.80 12.76 52.44 21.40 15.28 16.68 26.17 18.69

6.63 3.69 6.45 26.88 15.55 32.34 18.07 12.62 4.36 30.42 19.32 8.09 15.06 26.14 17.80

5.28 1.89 6.26 23.25 13.45 24.94 17.70 7.32 2.29 23.52 17.67 3.81 13.22 25.95 14.55

4.78 1.32 4.18 22.34 12.52 20.72 17.29 6.87 -2.23 19.44 17.26 1.07 13.09 24.66 9.95

4.26 -0.39 2.27 20.91 8.80 20.56 17.22 4.54 -9.62 19.11 14.49 0.20 12.31 10.90 9.52

3.47 -1.95 -8.76 16.56 8.61 19.99 6.91 4.12 -13.53 17.34 13.81 -1.89 8.58 10.45 7.76

2.32 -2.54 -14.16 14.27 7.17 18.83 2.74 3.80 -18.67 14.33 12.68 -1.90 7.50 2.15 5.04

0.90 -5.16 -17.35 11.24 6.08 18.52 1.62 2.85 -24.65 5.91 8.42 -3.07 6.59 0.28 2.87

-2.26 -7.08 -18.17 7.30 5.37 8.10 -0.72 1.80 -25.43 5.88 8.36 -7.10 3.36 0.22 2.79

-2.80 -12.52 -19.46 5.54 4.46 7.24 -0.97 -0.68 -29.37 2.18 7.89 -11.63 2.35 0.01 0.58

-18.28 -13.63 -23.00 5.25 3.00 6.82 -1.35 -1.72 -32.37 0.37 6.91 -15.60 1.50 -2.55 0.48

-24.11 -20.93 -25.77 1.99 2.33 4.30 -3.86 -5.47 -32.64 -2.51 5.95 -16.38 0.56 -4.19 0.14

WORST -29.30 -26.74 -32.71 0.99 1.17 3.23 -14.50 -11.04 -36.91 -3.40 0.39 -19.11 0.34 -5.27 -0.88

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

It’s all about balance

The chart below shows just how inconsistent returns have been by asset classes over the past 20 years, which is why it’s important to have a blend of assets.


IA Asia Pacific Excluding Japan

IA Fixed Interest

Equally Weighted portfolio

IA Europe Excluding UK

IA North America

IA UK Gilt

IA Global Emerging Markets

IA UK All Companies

IA UK Index Linked Gilt

IA Japan

IA £ Corporate Bond

IA UK Equity Income

IA Cash

IPD UK All Property

Source Lipper

By investing in a variety of assets and geographical regions you can reduce your overall investment risk. It’s impossible to predict which type of asset or geographical investment will perform best in the medium to long-term

Did you know there are over 55,000 funds in the fund universe to choose from? BNPP IP have the strength, expertise and rigorous oversight and systems to support and analyse the ever expanding fund universe, which reduces the risk for you and your financial adviser.

Your financial adviser will help you decide whether these funds are suitable for your circumstances, but in general these funds are suitable for investors who:

Are looking for a medium to long-term investment of at least five years.

Want an investment that suits their personal level of investment risk.

Require access to a diversified portfolio that invests in a range of assets.

Want easy access to their investment.

Have enough savings to cover their day to day expenses.

Key risks to considerThere are many benefits to risk-targeted investments, but also some risks you should consider carefully before you invest:

The value of an investment and your income are not guaranteed and can fall as well as rise as a result of market fluctuations. You may not get back the amount originally invested.

The funds are managed on a medium to long-term basis, so should be viewed as a long-term investment. However, they will still be subject to short-term fluctuations.

Some of the funds invest outside of the UK or hold currencies other than Sterling. Any exchange rate movement may cause the value of your investment to fall as well as rise.

The fund may invest in fixed interest funds, which are subject to market and credit risk and will be impacted by interest rates.

The fund’s underlying investments may include emerging markets which may be less liquid and more volatile than more developed markets.

Please see the Prospectus for a full list of all the risks associated with risk-targeted investments.

Are these funds right for you?


Q) Does risk-targeted mean I won’t lose money?

No, investments can go up and go down and this can happen at any time. Risk-targeted does however, mean that any losses should not be disproportionate to the level of risk you were prepared to accept.

Q) What are the investment limits?

You can invest from a minimum of £1,000* as a lump sum or from £25* a month as a regular saver. There is no maximum investment amount.

*Depending on platform/application route

Q) What types of investment will I be investing in?

This depends on which risk profile you choose, but as a general rule the funds will invest in collective schemes. The overall asset allocation will depend on the risk profile you select and your financial adviser will provide you with all relevant details.

Q) Can I invest tax-efficiently?

Yes, you can access these funds via a variety of tax-efficient wrappers such as ISAs, Junior ISAs, investment bonds and pensions including SIPPS. The wrapper may impose limitations and depend on the investor’s circumstances e.g. you can not have income from a pension as an investor under 55.

Q) Can I take an income?

Yes, speak to your financial adviser about options for taking an income from your investment.

Q) How can I find out how my portfolio is performing?

Through your financial adviser you will receive regular market commentary and performance updates that will keep you up to date about the performance of your funds and where your money is invested.

Q) How do I invest?

You can only invest in an IFSL Sinfonia portfolio via a UK financial adviser.

Q) What do you do differently to other multi-asset fund managers?

BNPP IP have been running multi-asset portfolios on behalf of their clients for over a decade and today manages more than £40 billion of assets (31 March 2015). Determining the best mix of assets for their clients is at the heart of what they do, and their team has many years of experience of providing strategic allocation services and establishing both short-term and medium-term asset class views. In managing funds and dedicated portfolios for their clients, BNPP IP use funds run by specialist teams across their company and also external asset managers, selected by our dedicated fund research team Fundquest, to gain exposure to particular asset classes.

Q) What are the charges?

Like any investment, there are charges that you need to be aware of, and agree to, before your money is invested. These charges will be discussed with you by your financial adviser and disclosed in the documentation, which will be given to you before your money is invested.

Your questions answered



Next steps

The charges which you need to be aware of are:

Ongoing Charges Figure (OCF) This gives an accurate measure of what it costs to invest in a fund and will be presented as an annual percentage. The OCF (previously called Total Expense Ratio or TER) is made up of the annual management charge (AMC) and other operating costs associated with the funds you invest in. The latest OCF can be found in the Key Investor Information Document (KIID).

Annual Management Charge (AMC) Funds levy an AMC from which they make their profits and cover the ongoing annual costs of running the fund. The AMC is made up of a number of different costs and is typically around 0.75% for most actively managed funds. The AMC for the IFSL Sinfonia portfolios is 0.65%.

Platform costs You can invest your money direct with IFSL Sinfonia or via fund supermarkets, also known as a platform. There is no additional cost to invest with IFSL Sinfonia direct, other than the OCF. There may be additional charges to invest via a platform, however your financial adviser will discuss this with you.

Adviser Charge(s) Your financial adviser will charge you for the initial advice and any ongoing services you agree to receive. This will be documented in a Fee Agreement, which will be given to you before any work is carried out.

If you are unsure about any of the charges, or what they mean in monetary terms, please speak to your financial adviser.

Open Ended Investment Company (OEIC) A professionally managed collective investment fund. Investment managers pool money from many investors and buy shares, fixed interest securities, property or cash assets and other investments.

Individual Savings Account (ISA) A tax-efficient way to save or invest. For more information on ISAs please visit www.gov.uk or ask your financial adviser.

If you are interested in the IFSL Sinfonia portfolios, we would recommend that you speak to your financial adviser. They can help you to decide whether the IFSL Sinfonia portfolios are right for you by understanding your personal circumstances, future goals, capacity for loss and attitude to risk. They will be able to answer any questions and can discuss its suitability for your investment needs.

Copies of the Prospectus and Key Investor Information Documents are available from www.ifslfunds.com or can be requested as a paper copy by calling 0845 123 1083 or writing to IFSL Sinfonia, Marlborough House, 59 Chorley New Road, Bolton BL1 4QP.

Past performance is not a guide to future performance. Investments can go down as well as up and investors may not get back the amount originally invested. This can be as a result of market movements and exchange rates between currencies. The fund may invest in fixed interest funds, which are subject to market and credit risk and will be impacted by interest rates. The fund’s underlying investments may include emerging markets which may be less liquid and more volatile than more developed markets.

This document has been approved by Investment Fund Services Limited.

Sinfonia Asset Management Ltd is not regulated or authorised by the Financial Conduct Authority or the Prudential Regulation Authority. Investment Funds Services Limited (IFSL) is the Authorised Corporate Director for the IFSL Sinfonia OEIC. IFSL is regulated and authorised by the Financial Conduct Authority.

Sinfonia is a trading style of Sinfonia Asset Management Ltd, registered in England and Wales No. 06309491.

Financial adviser contact details:For more information

0845 123 1083

www.ifslfunds.com

or visit: www.unbiased.co.uk

SINFA0715

Welcome to Sinfonia - Sinfonia Adviser Site · Welcome to Sinfonia Risk-Targeted Fund Range...

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