Past performance is not a guide to future performance. The value of investments and the income from them is
not guaranteed and can fall as well as rise due to stock market and currency movements. When you sell your
investment you may get back less than you originally invested.
This is a financial promotion for Professional Clients only. This is not intended as investment advice. All
information prepared within has been prepared by BNY Mellon Investment Management EMEA Limited (BNYMIM
EMEA). Any views and opinions contained in this document are those of BNYMIM EMEA as at the date of issue;
are subject to change and should not be taken as investment advice. BNYMIM EMEA and its affiliates are not
responsible for any subsequent investment advice given based on the information supplied. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation and may also be used as a generic term to reference
the corporation as a whole or its various subsidiaries. All rankings based on worldwide assets under management
for The Bank of New York Mellon Corporation as at 31 December 2011, unless otherwise stated. Unless otherwise
noted, all references to total assets under management (AUM) (which are approximate), provided by The Bank
of New York Mellon Corporation, are as of 31 December 2013. AUM for The Boston Company Asset Management,
EACM Advisors, Mellon Capital Management Corporation and Standish Mellon Asset Management Company LLC
includes assets managed by those individual firms’ officers as associated persons, dual officers or employees
of The Dreyfus Corporation. In addition, AUM for the following firms may include assets managed by them as
non-discretionary investment manager for, or by the individual firms’ officers as dual officers or employees
of, The Bank of New York Mellon: The Boston Company Asset Management, LLC, The Dreyfus Corporation and
its BNY Mellon Cash Investment Strategies division, Mellon Capital Management Corporation, Newton Capital
Management Limited (part of The Newton Group), Standish Mellon Asset Management Company LLC, and
CenterSquare Investment Management, Inc. AUM includes BNY Mellon Wealth Management, Ankura Capital
and external data. The Bank of New York Mellon Corporation holds over 95% of the parent holding company of
Alcentra group, 90% of The Boston Company Asset Management, LLC, a 19.9% minority interest in The Hamon
Investment Group Pte Limited, the parent company of Blackfriars Asset Management Limited, Hamon Asset
Management Limited and Hamon Asian Advisors Limited, through which Hamon offers investment services
in the US, a 20% minority interest in Siguler Guff & Company LLC and certain related entities and owns 100%
of Meriten Investment Management GmbH (previously named WestLB Mellon Asset Management, formerly
a 50:50 joint venture with Portigon(formerly WestLB AG). BNY Mellon Beta & Transition Management is a
division of The Bank of New York Mellon, a wholly-owned banking subsidiary of The Bank of New York Mellon
Corporation. BNY Mellon Cash Investment Strategies is a division of The Dreyfus Corporation. AUM outlined for
Newton represents the aggregate AUM of the following affiliated companies: Newton Investment Management
Limited, Newton Capital Management Limited, Newton International Investment Management Limited and
Newton Fund Managers (CI) Limited. To help continually improve our service and in the interest of security, we
may monitor and/or record your telephone calls with us. This document may not be used for the purpose of an
offer or solicitation in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful or
not authorised. This document is issued in the UK and in mainland Europe (excluding Germany) by BNY Mellon
Investment Management EMEA Limited, BNY Mellon Centre, 160 Queen Victoria Street, London EC4V 4LA.
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