TM Rectory Investment Fund

Sustainable, Responsible &/or ESG Policy:

Objectives & Investment Policy

The fund aims to achieve capital growth with the potential for some income, net of fees, over a rolling 5 year period.

The fund will invest in a global portfolio which will typically comprise of equities (at least 80%). The remainder of the fund may be invested in fixed income assets (which may include government and public securities) and other transferable securities, money-market instruments, cash, near cash and deposits. The composition of the Scheme Property as between equities, fixed income assets and other assets, will vary over time in response to the Investment Manager’s assessment of market conditions as well as the economic environment. The exposure to equities may fall below 80% during difficult markets.

The fund may obtain this exposure directly or through investment in collective investment vehicles (regulated and unregulated including exchange traded vehicles and investment trusts) which may include other schemes managed by the ACD, or the Investment Manager or an associate of the ACD or the Investment Manager.

In addition the fund may invest in  eligible alternatives (e.g. gold and commodities) indirectly via permitted instruments such as investment trusts or other collective investment vehicles.The fund may  use derivatives for the purpose of Efficient Portfolio Management and its use is expected to be limited.

The Investment Manager will actively manage the fund.

The fund’s investment strategy takes account of some environmental, social and governance considerations. This is further described in  the “Strategy” and “Indicators used to measure the attainment of sustainability characteristics” sections of the Prospectus.

The fund uses the Investment Association Global peer group for performance comparison purposes only. This peer group is not a target benchmark and the fund is not constrained by it. The peer group has  been selected as a comparator for performance because the parameters for this peer group of at least 80% exposure to equities are closely aligned with the parameters set out in the policy of the fund. The ACD reserves the right to change the benchmark or peer group following consultation with the Depositary and in accordance with the rules of COLL. A change could arise, for example, where the ACD determines that an alternative may be more appropriate. Shareholders will be notified of such a change through an update to the Prospectus and the change noted in the subsequent annual and half yearly reports.

The Investment Manager’s investment strategy combines three key elements: (1) a qualitative ESG screening process, (2) a thematic selection process, and (3) quantitative financial analysis. Each of these elements is further described in the “Strategy” and “Indicators used to measure the attainment of sustainability characteristics” sections of the Prospectus.

(1) ESG screening process: The Investment Manager first applies an ESG screening process to determine its universe of  potentially eligible investments (the “investment universe”), excluding companies involved in nuclear and weapons manufacture and companies in violation of the Ten Principles of the UN Global Compact.In the next stage, the remaining companies are then evaluated in a qualitative manner based on their ESG credentials using the MSCI ESG Intangible Value Assessment (“IVA”) ratings and the MSCI ESG Controversies ratings.

(2) Thematic selection process:Once the investment universe has been established the Investment Manager uses a thematic selection process that aims to identify trends into which to invest. There are six themes and each company selected has to fall into at least one of these six themes:

(3) Quantitative financial analysis: In the final stage, the Investment Manager undertakes quantitative financial analysis based on fundamental company-specific research that seeks to identify and select equities that can achieve the fund’s investment objective.

(Source: KIID as at Janaury 2026)

SDR Labelling:

Unlabelled - promotes sustainable characteristics (has CFD)

SDR Literature:

• Consumer Facing Disclosure