Montanaro UK Income Fund Seed EUR Inc/  IE00B1FZRR25  /

The investment objective of the Fund is to provide investors with higher than market average dividend income and to outperform its Benchmark the MSCI Europe SmallCap (Total Return) Index. The Fund shall invest at least two thirds of its total assets (after deduction of ancillary liquid assets) in equity securities of smaller companies having their registered office in Europe or companies having their registered office outside Europe but deriving predominant revenues or profits from the European region. Such Companies shall be quoted in the European Union, Iceland, Norway and Switzerland (but without restricting the Fund from investing in smaller companies quoted on other European stock exchanges) or quoted on non European Stock exchanges. Smaller companies shall mean companies whose market capitalisation shall not exceed €3 billion. Up to one third of the total assets of the Fund may be invested in aggregate in equity securities of companies over €3 billion in size. The Fund will invest at least 75% of its net assets in securities eligible for Plan d’Epargne en Actions (“PEA” in France). A PEA is a savings plan which is invested in shares issued by EEA corporation tax paying entities.

The investment objective of the Fund is to provide investors with higher than market average dividend income and to outperform its Benchmark the MSCI Europe SmallCap (Total Return) Index.