CHANGES TO FPIL COLLINS STEWART FUNDS

FPIL Collins Stewart Fund Changes

Amendments to Fund Names and Dealing Frequency
Effective as of 26th September 2008

Collins Stewart Wealth Management (CS), managers of the underlying assets of the below funds, have informed us of their intention to make changes to their fund ranges.

Currently, CS operates two fund ranges aimed at different audiences. Research conducted across these two fund ranges identified that to be able to give current investors access to a unified multi-manager experience whilst being able to market the funds across both jurisdictions, it was necessary to amalgamate the two fund ranges and re-domicile to Dublin.

As a consequence of the above, our mirror funds will change their names to reflect the new CS funds.  This will come into effect on 26 September 2008 and the new names are detailed below.

•  P13 – Collins Stewart International Balanced (GBP)  will become P13 – CS Select Diversity

•  P16 – Collins Stewart International Balanced (USD)  will become P16 – CS Select Global Diversity

•  P14 – Collins Stewart International Growth (GBP)  will become P14 – CS Select Affinity

•  P17 – Collins Stewart International Growth (USD)  will become P17 – CS Select Global Affinity

•  P15 – FPIL (Collins Stewart) Aggressive Managed (GBP)  will become P15 – CS Select Opportunity

•  P18 – FPIL (Collins Stewart) Aggressive Managed (USD)  will become P18 – CS Select Global Opportunity

The funds will also now become daily dealing funds, rather than weekly as before. All other aspects of the funds will remain the same.

If you have any questions on any of the items above, please contact me on tony@ifstony.com .