Ηερµεσ Ινϖεστµεντ Φυνδσ ΠΛΧ

Ηερµεσ Ινϖεστµεντ Φυνδσ ΠΛΧ Ηερµεσ Γλοβαλ Ηιγη Ψιελδ Βονδ Φυνδ 25 Φεβρυαρψ 2011 ΣΙΜΠΛΙΦΙΕ ΠΡΟΣΠΕΧΤΥΣ Τηισ Σιµπλιφιεδ Προσπεχτυσ χονταινσ κεψ ινφορµατιον ιν ρελατιον το Ηερµεσ Γλοβαλ Ηιγη Ψιελδ Βονδ Φυνδ (τηε Φυνδ ), ωηιχη ισ α σεπαρατε φυνδ οφ Ηερµεσ Ινϖεστµεντ Φυνδσ πλχ (τηε Χοµπανψ ). Τηε Χοµπανψ ισ αν οπεν ενδεδ υµβρελλα ινϖεστµεντ χοµπανψ ωιτη ϖαριαβλε χαπιταλ ανδ ωιτη σεγρεγατεδ λιαβιλιτψ βετωεεν φυνδσ ινχορπορατεδ ιν Ιρελανδ ον 23 Οχτοβερ 2008 ανδ αυτηορισεδ ον 24 Νοϖεµβερ 2008 βψ τηε Χεντραλ Βανκ οφ Ιρελανδ πυρσυαντ το τηε Ευροπεαν Χοµµυνιτιεσ (ΥΧΙΤΣ) Ρεγυλατιονσ, 2003, ασ αµενδεδ. Τηε Χοµπανψ ηασ ιτσ ρεγιστερεδ οφφιχε ατ Γεοργεσ Χουρτ, 54 62 Τοωνσενδ Στρεετ, υβλιν 2, Ιρελανδ. Ατ τηε σολε δισχρετιον οφ τηε ιρεχτορσ, αππλιχατιον µαψ βε µαδε φορ τηε Σηαρεσ οφ ανψ ορ αλλ οφ τηε Σηαρε Χλασσεσ το βε λιστεδ ον τηε Ιριση Στοχκ Εξχηανγε ειτηερ ατ τηε τιµε οφ τηε λαυνχη οφ τηε ρελεϖαντ Σηαρε Χλασσ ορ ατ ανψ τιµε τηερεαφτερ. Ασ ατ τηε δατε οφ τηισ Σιµπλιφιεδ Προσπεχτυσ, αππλιχατιον ηασ νοτ βεεν µαδε το τηε Ιριση Στοχκ Εξχηανγε ιν ρεσπεχτ οφ ανψ οφ τηε Σηαρε Χλασσεσ οφ τηε Φυνδ. Τηε βασε χυρρενχψ οφ τηε Χοµπανψ ισ Στερλινγ. Τηε Χοµπανψ ηασ τηιρτεεν φυνδσ ωηιχη αρε λιστεδ βελοω ωιτη τηε βασε χυρρενχψ οφ εαχη φυνδ: Ηερµεσ ΥΚ Σµαλλ ανδ Μιδ Χαπ Χοµπανιεσ Φυνδ Στερλινγ Ηερµεσ ΥΚ Σµαλλερ Χοµπανιεσ Φυνδ Στερλινγ Ηερµεσ Παν Ευροπεαν Σµαλλ Χαπ Χοµπανιεσ Φυνδ Στερλινγ Ηερµεσ Γλοβαλ Εµεργινγ Μαρκετσ Φυνδ Στερλινγ Ηερµεσ Θυαντ Γλοβαλ Εθυιτψ Φυνδ Στερλινγ Ηερµεσ Σουρχεχαπ Ευροπεαν Αλπηα Φυνδ Στερλινγ Ηερµεσ Γλοβαλ Εθυιτιεσ Σελεχτιον Φυνδ Στερλινγ Ηερµεσ ϑαπαν Σµαλλ ανδ Μιδ Χαπ Χοµπανιεσ Φυνδ Στερλινγ Ηερµεσ ϑαπαν Εθυιτψ Φυνδ Στερλινγ Ηερµεσ Γλοβαλ Ηιγη Ψιελδ Βονδ Φυνδ Ευρο Ηερµεσ Γλοβαλ Ινϖεστµεντ Γραδε Φυνδ Ευρο Ηερµεσ Ευρο Ηιγη Ψιελδ Βονδ Φυνδ Ευρο Ηερµεσ Ευρο Ινϖεστµεντ Γραδε Φυνδ Ευρο Ποτεντιαλ ινϖεστορσ αρε αδϖισεδ το ρεαδ τηε φυλλ προσπεχτυσ δατεδ 25 Φεβρυαρψ 2011, τηε Φυνδ σ συππλεµεντ δατεδ 25 Φεβρυαρψ 2011 ανδ ανψ αδδενδα ανδ ανψ αµενδµεντσ τηερετο (τογετηερ, τηε Φυλλ Προσπεχτυσ ) βεφορε µακινγ αν ινϖεστµεντ δεχισιον. Τηε ριγητσ ανδ δυτιεσ οφ τηε ινϖεστορ ασ ωελλ ασ τηε λεγαλ ρελατιονσηιπ ωιτη τηε Χοµπανψ αρε λαιδ δοων ιν τηε Φυλλ Προσπεχτυσ. Χαπιταλισεδ τερµσ υσεδ ιν τηισ Σιµπλιφιεδ Προσπεχτυσ, υνλεσσ οτηερωισε δεφινεδ, σηαλλ βεαρ τηε µεανινγ σετ ουτ ιν τηε Φυλλ Προσπεχτυσ. Ινϖεστµεντ Οβϕεχτιϖε: Ινϖεστµεντ Πολιχψ: The investment objective of the Fund is to generate a high level of income. The Fund will seek to achieve its objective by investing primarily in a diversified portfolio of high yield bonds. The Fund may also use credit default swaps extensively. The Investment Manager intends to use an active approach to seek high risk-adjusted returns from bottom-up analysis of below investment grade

corporate and/or government issuers. Fundamental, bottom-up analysis of individual credit will be used to generate returns through anticipated price changes. In addition, the Investment Manager intends to use a top down approach for portfolio risk management purposes. The Investment Manager intends to diversify the Fund s portfolio across different geographic regions and industries. The Fund will invest primarily in below investment grade corporate and/or government fixed and/or floating rate bonds, including convertible, amortising and defaulted bonds. Convertible bonds are bonds that are convertible into equity securities of the issuer. Amortising bonds are bonds in which a portion of the underlying principal amount is paid in addition to periodic interest payments to the security s holder. Defaulted bonds are bonds where the issuer has failed to make required debt payments on a timely basis or to comply with other conditions of the bond. Below investment grade bonds are bonds that are rated below Baa3 by Moody s or BBB- by Standard & Poor s ( S&P ) or an equivalent rating by another rating agency or are unrated. The Fund will invest primarily in bonds that are listed or traded on Regulated Markets set out in Appendix I to the Prospectus. In pursuit of its investment policy, the Fund may use credit default swaps extensively for direct investment and/or efficient portfolio management purposes. The Fund may also utilise other FDIs, such as forward foreign exchange contracts and currency swaps, options on credit default swaps, equity index options and total return swaps, for direct investment and/or efficient portfolio management purposes. FDIs will be used for purposes such as assisting cash flow management, for cost effectiveness and for gaining exposure to certain markets and securities, such as the bonds described in the preceding paragraph, in a quicker and/or more efficient manner. In making its investment decisions, the Investment Manager will take account of any CGRI Guidelines with regards to the holding of either individual securities or various categories or classes of securities. The CGRI Guidelines are intended to provide guidance on achieving best practice standards of corporate governance and equity stewardship and with the aim of adding value to and/or preserving value in the Funds. Ρισκ Προφιλε: Ινϖεστορσ αττεντιον ισ δραων το τηε φολλοωινγ ρισκ φαχτορσ. Α µορε δεταιλεδ δεσχριπτιον οφ τηε ρισκ φαχτορσ τηατ αππλψ το τηε Χοµπανψ ανδ τηε Φυνδ ισ σετ ουτ ιν τηε Φυλλ Προσπεχτυσ. Further details are available under the heading Risk Factors in the Full Prospectus. Investment in bonds is subject to the risk of an issuer s inability to meet principal and interest payments on the obligation (credit risk) and may also be subject to price volatility due to such factors as interest rate sensitivity, market perception of the creditworthiness of the issuer and general market liquidity (market risk). Below investment grade bonds are more likely to react to developments affecting market and credit risk than are more highly rated bonds, which react primarily to movements in the general level of interest rates. The value of investments may fall as well as rise, and investors may not receive back the amount invested. There is no assurance that the investment objective of the Fund will be actually 2

achieved. Περφορµανχε ατα Προφιλε οφ α Τψπιχαλ Ινϖεστορ: ιστριβυτιον Πολιχψ: The Fund is newly established and, as such, no performance data is currently available. Suitable for investors seeking capital growth over a medium term time horizon and who understand and accept the associated level of risk attached to the Fund. This Fund may not be appropriate for all investors. Accumulating Classes are not intended to distribute dividends to the Shareholders in the Fund. The income and other profits will be accumulated and reinvested on behalf of Shareholders. Dividends, if paid, may be paid out of the net income of the Fund including interest and dividends earned by the Fund less expenses of the Fund. Distributing Classes are intended to declare dividends on the Shares of the Distributing Classes of the Fund out of the net income of the Fund including interest and dividends earned by the Fund less expenses of the Fund. Dividends will be declared twice yearly and paid within two months of the date on which they have been declared. Φεεσ ανδ Εξπενσεσ: Σηαρεηολδερσ Εξπενσεσ Subscription Fee Redemption Fee Switching Fee Αννυαλ Οπερατινγ Εξπενσεσ Investment Management Fee up to 1.25% of the NAV in respect of the Class F Shares. up to 1.25% of the NAV in respect of the Class R Shares. base annual investment management fee of up to 0.75% of NAV in respect of Class P Shares, plus (if applicable) a performance fee of 10% of the outperformance of the Performance Fee Benchmark Index. per Client Agreement in respect of Z Shares. Administrator Fee - The Administrator is entitled to receive an annual fee (plus any applicable value added tax) from the Company of 0.05% of the Net Asset Value of the Fund on the first Stg 100,000,000 and 0.04% of the Net Asset Value of the Fund thereafter, subject to a monthly minimum fee of Stg 4,500 to be accrued daily and paid monthly in arrears. The Administrator is also entitled to be paid for all agreed transfer agency charges, transaction fees at normal commercial rates and reimbursed for out of pocket expenses properly incurred by it in the performance of its duties and responsibilities under the Administration Agreement. All such fees and expenses will be borne by the Fund. Custodian Fee - The Custodian is entitled, out of the assets of the Fund, to a trustee fee of 0.01% of the Net Asset Value of the Fund, accrued and calculated daily and payable monthly in arrears. The Custodian is also be entitled to be reimbursed for all agreed out of pocket expenses properly incurred by it in the 3

performance of its duties. The Custodian will also charge fees and expenses of any delegate of the Custodian, including sub-custodians, provided they are at normal commercial rates. The Fund is newly established and, as such, no total expense ratio data or portfolio turnover rate data is currently available. Ταξατιον: The Company is resident in for tax purposes and is not subject to Irish taxation charges on income or capital gains. No Irish stamp duty is payable on the issue, repurchase, redemption or transfer of shares in the Company. Σηαρεηολδερσ ανδ ποτεντιαλ ινϖεστορσ σηουλδ χονσυλτ ωιτη τηειρ προφεσσιοναλ αδϖισερσ ιν ρελατιον το τηε ταξ τρεατµεντ οφ τηειρ ηολδινγσ ιν τηε Χοµπανψ. Πυβλιχατιον οφ Σηαρε Πριχε: Ηοω το Βυψ/Σελλ Υνιτσ/Σηαρεσ: The latest Price for Shares will be available during normal business hours every Business Day at the office of the Administrator and will be published daily on the following website www.hermes.co.uk. Northern Trust International Fund Administration Services () Limited Tel: (+ 353) 1 434 5002 Fax: (+ 353) 1 434 5275 (in accordance with the provisions of the Full Prospectus) Hours of business 9am to 5pm (Irish Time) Mon Fri Αδδιτιοναλ Ιµπορταντ Ινφορµατιον: Directors of the Company Custodian Administrator, Registrar and Transfer Agent Investment Manager Promoter Paul McNaughton Justin Egan Brian Collins Patrick Galligan Northern Trust Fiduciary Services () Limited Northern Trust International Fund Administration Services () Limited Hermes Investment Management Limited Llyods Chambers 1 Portsoken Street London E1 8HZ England Hermes Investment Management Limited 4

Auditor Legal Advisors Deloitte & Touche, Deloitte & Touche House, Earlsfort Terrace,, William Fry Additional information and copies of the Full Prospectus, the latest annual and half yearly reports (if any) may be obtained (free of charge) from: Northern Trust International Fund Administration Services () Limited Tel (+ 353) 1 434 5002 Fax (+ 353) 1 434 5286 WF-2996994-v5.exe 5