Please note, with effect from the 1 July 2020 the benchmark used as the basis for the fund’s performance target will be amended to 50% FTSE All Share Index + 50% ICE Bank of America ML Sterling Non-Gilt Index. This removes the previous maturity range applied to the bond portion of the benchmark. The fund’s outperformance target of +1.5% remains the same. You do not need to take any action as a result of this change.