MI Miton Cautious Monthly Income Fund

Research Charge

This document sets out the estimated research charge for the Fund for 2018.

The Investment Manager makes a charge to the Fund in respect of the cost of research it uses as part of its investment process for the Fund.

The research charge is used by the Investment Manager to purchase external research, which the Investment Manager considers will benefit the Fund by contributing to the investment decision making process.

Please refer to section 7 of the Fund’s prospectus for further details.

Estimated Research Charge

The Investment Manager has set an estimated research budget for the Fund for 2018 of £42,079.

The research charge for 2018 applies from 3rd April 2018.

The Fund will be charged a research budget amount for its strategy. The charge applied to a Fund has been calculated by reference to the value of the Fund’s assets in proportion to the total value of its strategy’s assets.

The ACD has agreed the following estimated research budget. The calculated pro rata amount has also been reduced to reflect that the charge only applies from 3rd April 2018.

The total amount of the research charge borne by the Fund for each accounting period will be reported in the annual report for the Company.

On request, the ACD will provide a summary of the following information to Shareholders for the most recent annual accounting period in respect of the Fund

• The research providers

• The total amount each provider was paid

• The benefits and services received by the Investment Manager

• How the total amount of research charge spent compares to the budget set by the Investment Manager

• Any rebate or carry-over of residual monies

For further information

• Call our Customer Services Team on 0345 872 4982 Send an email to or • Write to us at Maitland Institutional Services Ltd, Springfield Lodge, Colchester Road, Chelmsford, Essex, CM2 5PW

maitlandgroup.com /

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