SKANDIA GLOBAL FUNDS PLC - Fidelity Investments

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Skandia Global Funds plc Annual Report and Audited Financial Statements for the year ended 31 December 2011 GENERAL INFORMATION (continued) Skandia US Large Cap Value Fund The objective of the Skandia US Large Cap Value Fund is to seek to achieve asset growth and current income through investment in a well-diversified portfolio of equity and equity-related securities of large-sized issuers in the US. Skandia European Best Ideas Fund The objective of the Skandia European Best Ideas Fund is to seek to achieve asset growth through investment in a well-diversified portfolio of equities or equity-related securities of European issuers or of issuers established outside Europe which have a predominant proportion of their assets and/or business operations in Europe. Skandia Investment Grade Corporate Bond Fund The objective of the Skandia Investment Grade Corporate Bond Fund is to seek to achieve income and capital growth predominantly through investment in a well-diversified portfolio of credit securities rated Investment Grade. Skandia Global Emerging Markets Fund The objective of the Skandia Global Emerging Markets Fund is to seek to achieve asset growth through investment in a welldiversified portfolio of equity securities of issuers in the Emerging Markets or of issuers established outside of the Emerging Markets, which have a predominant proportion of their assets or business operations in the Emerging Markets and which are listed, traded or dealt in on a Regulated Market worldwide. Skandia Asian Equity Fund The objective of the Skandia Global Emerging Markets Fund is to seek to achieve asset growth through investment in a welldiversified portfolio of equity securities of Asian issuers in the Emerging Markets or of issuers established outside the Asian region, which have a predominant proportion of their assets or business operations in the Asian region. Skandia Local Currency Emerging Market Debt Fund The objective of the Skandia Global Emerging Markets Fund is to seek to achieve total return through investment in a well-diversified portfolio of fixed and variable rate debt securities issued in the Emerging Markets worldwide and which are primarily denominated in the local currency of the issuer. Skandia Global Futures Fund The objective of the Skandia Global Futures Fund is to seek to achieve capital appreciation while closely controlling risk. The Skandia Global Futures Fund intends to provide investors with exposure to the performance of the Index. Distribution Policy Distributions were made during 2011 with respect to certain Share Classes of the Skandia Global Bond Fund, Skandia Total Return USD Bond Fund, Skandia Emerging Market Debt Fund, Skandia Healthcare Fund, Skandia European Best Ideas Fund, Skandia US Large Cap Value Fund, Skandia Investment Grade Corporate Bond Fund, Skandia Global Emerging Markets Fund and Skandia Local Currency Emerging Market Debt Fund. All of the other Funds‟ income and capital gains were reinvested in accordance with the investment objective and policy of the Funds. Investment Risks An investment in any Fund involves investment risks, including possible loss of the amount invested. Moreover, there can be no assurance that a Fund will achieve its investment objective. 12
Skandia Global Funds plc Annual Report and Audited Financial Statements for the year ended 31 December 2011 GENERAL INFORMATION (continued) Subscriptions and Repurchases Certain Share Classes have minimum initial investment, minimum subsequent investment and minimum holding requirements which are disclosed in the Prospectus. An initial charge may be payable to the Manager on subscription for shares. An initial charge of up to 6.25% of the Net Asset Value per share may be payable on all Class A Shares. No initial charge shall be payable on the Class B Shares, Class I Shares and Class S Shares of any Fund. An initial charge of up to 1% of the Net Asset Value per share may be payable on the Class C Shares of any Fund. A contingent deferred sales charge may be payable to the Manager on the subscription price paid for each of the Class B Shares of each Fund if they are repurchased within four years of issue. The amount of the contingent deferred sales charge payable will depend on the length of time between the date the shares were purchased and their repurchase. A contingent deferred sales charge may also be payable to the Manager on the subscription price paid for the Class C Shares and Class C1 Income Shares of each Fund if they are repurchased within one year of issue. Taxation As an investment undertaking within the meaning of Section 739(B) of the Taxes Consolidation Act 1997, as amended, the Company is generally exempt from Irish tax on its income and gains and the Company will not be required to account for any tax in respect of shareholders who are not Irish residents or exempt Irish resident provided that the signed necessary declarations are in place. The Company may be required to account for tax in respect of shareholders who are Irish residents. Shareholders who are not Irish residents and have made the required declaration of non-residence will not be liable to Irish tax on income from their shares or gains made on the disposal of their shares, provided the shares are not attributable to an Irish branch or agency of such shareholder. No stamp duty or other tax is generally payable in Ireland on the subscription, issue, holding, redemption, conversion or transfer of shares. Securities Lending A Fund may lend securities to a counterparty approved by the Manager. Such securities lending agreements may only be effected in accordance with normal market practice. The types of collateral that may be obtained under these agreements and the restrictions applicable to them are set out in the Prospectus of the Company. In participating in any securities lending programme, assets of the Company may be transferred to certain borrowers. Notwithstanding the requirement to receive collateral from any borrower, there are certain risks inherent in the lending of securities, such as the bankruptcy or default of a borrower or securities lending agent and a Fund could experience delays in liquidating the collateral and incur expenses in enforcing its rights. In addition, there are certain market risks associated with the investment of any collateral received from a borrower which could result in a decline in the value of the invested collateral resulting in a loss to the Company. The Company must have the right to terminate the securities lending agreement at any time and demand the return of any or all of the securities loaned. The agreement must provide that, once such notice is given, the borrower is obliged to redeliver the securities within 5 business days or other period as normal market practice dictates. The securities lending programme is discussed in further detail in Note 19 on page 337. Selling Restrictions The shares may not be purchased or held by US persons unless pursuant to an exemption under applicable US law and may not be offered or sold in any jurisdiction in which such offer or sale is not lawful or in which the person making such offer or sale is not qualified to do so or to anyone to whom it is unlawful to make such an offer or sale. Dealing Days A dealing day means every Business Day (as defined for each Fund in the Prospectus) or such other days as the Directors may determine provided that there shall be at least one Dealing Day each fortnight. 13
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SKANDIA GLOBAL FUNDS PLC - Fidelity Investments

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