UK Index Growth Fund 2012

Fund Objective

The objective of the Close UK Index Growth Fund 2012 ("the Fund") is to provide investors with a geared exposure to rises in the FTSE 100 Index ("the Index"), coupled with a high degree of capital protection.

The Fund has a 6 year life and provides 4 times the capital return of the Index up to a maximum growth of 64% over its duration. The starting level of this Index when the fund was launched was 6160.30. If the Index rises to 7145.95, a rise of 16%, by November 2012, the shares will return growth of 64%.

The Fund provides investors with full capital protection providing the Index has not closed during the period down more than 50%, (a level of 3080.15).

If the Index does fall by more than 50% and finishes at the end of the Fund's life below the start level (6160.30) the value of the Fund will also fall by an equivalent percentage amount. If the Index recovers to above its start level investors will still receive 4 times the growth in the Index to a maximum of 64%.

The Close UK Index Growth Fund 2012 is a rollover of the Close UK Index Growth Fund 2006.