Winton Global Alpha Fund

* van Eyk Research Pty Ltd ABN 99 010 664 632, corporate authorised representative of van Eyk Financial Group Pty Ltd ABN 28 149 679 078, AFSL 402146 (authorised representative number 408625) (van Eyk) rates investment management capabilities rather than individual products. This rating is valid as at February 2012 (IFP Global Franchise Fund, Walter Scott Global Equity Fund, Arrowstreet Global Equity Fund), March 2012 (Walter Scott Emerging Markets Fund) and April 2011 (Winton Global Alpha Fund) but can change or cease at anytime and should not be relied upon without referring to the meaning of the ratings, as well as the full manager reports, available to subscribers at www.irate.vaneyk.com.au. van Eyk has not directed the publication of this rating. Past performance information is given for illustrative purposes only and should not be relied upon as it is not an indication of future performance. The rating is not intended to influence you and your client's investment decision in relation to any products managed by Independent Franchise Partners, Walter Scott, Arrowstreet Capital or Winton Capital and does not take into account your client's individual financial situation, needs or objectives. We recommend that you and your client do not rely on this rating in making an investment decision and instead you seek advice from an appropriate investment adviser and read the product disclosure statement before making such a decision.

∼ Lonsec: The Lonsec ratings (assigned as follows: Analytic Global Managed Volatility Fund – December 2012; Arrowstreet Global Equity Fund – January 2012; Arrowstreet Global Equity Fund (Hedged) – January 2012; Walter Scott Global Equity Fund – December 2012; Walter Scott Global Equity Fund (hedged) – December 2012; IFP Global Franchise Fund – December 2012, IFP Global Franchise Fund (Hedged) – December 2012, Walter Scott Emerging Markets Fund – June 2012; Winton Global Alpha Fund – July 2012) presented in this document are published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421445. The ratings are a “class service” (as defined in the Financial Advisers Act 2008 (NZ)) or limited to “General Advice” and based solely on consideration of the investment merits of the financial products. In New Zealand it must only be provided to “wholesale clients” (as defined in the Financial Advisers Act 2008 (NZ)). They are not a recommendation to purchase, sell or hold the relevant products, and you should seek independent financial advice before investing in these products. The ratings are subject to change without notice and Lonsec assumes no obligation to update the relevant documents following publication. Lonsec receives a fee from the Fund Manager for researching the products using comprehensive and objective criteria.
For further information regarding Lonsec’s ratings methodology, please refer to our website at: https://www.lonsec.com.au/aspx/Public/Documents/Ratings%20Definitions.pdf 

° The Zenith Investment Partners ("Zenith") ABN 60 322 047 314 rating (Arrowstreet, Independent Franchise Partners and Walter Scott assigned September 2012, Winton and Analytic assigned April 2013 referred to in this document is limited to "General Advice" (as defined by section 766B of Corporations Act 2001) and based solely on the assessment of the investment merits of the financial product on this basis. It is not a specific recommendation to purchase, sell or hold the relevant product(s), and Zenith advises that individual investors should seek their own independent financial advice before investing in this product. The rating is subject to change without notice and Zenith has no obligation to update this document following publication. Zenith usually receives a fee for rating the fund manager and product against accepted criteria considered comprehensive and objective.