Buy/Sell Spreads

Australian EquitiesBuy spreadSell spread
Schroder Australian Equity Fund 0.25% 0.25%
Schroder Wholesale Australian Equity Fund 0.25% 0.25%
Schroder Equity Opportunities Fund 0.40% 0.40%
Schroder Microcap Fund 1.00% 1.00%
Global EquitiesBuy spreadSell spread
Schroder Global Core Fund 0.15% 0.10%
Schroder Global Value Fund 0.20% 0.15%
Schroder Global Value Fund (Hedged) 0.23% 0.18%
Schroder Global Quality Fund Nil* Nil*
Schroder Global Blend Fund 0.20% 0.15%
Schroder Global Blend Fund (Hedged) 0.23% 0.18%
Schroder Global Blend Ex-Tobacco Fund** 0.20% 0.15%
Schroder Asia Pacific Fund 0.35% 0.35%
Schroder Global Emerging Markets Fund 0.40% 0.40%
Schroder Global Bond Fund** 0.15% 0.15%
Schroder Global High Yield Bond Fund** 0.50% 0.50%
Schroder Global Corporate Bond Fund** 0.40% 0.40%
Fixed IncomeBuy spreadSell spread
Schroder Fixed Income Fund - Wholesale Class 0.12% 0.12%
Schroder Fixed Income Fund - Professional Class 0.12% 0.12%
Schroder Credit Securities Fund - Wholesale Class 0.20% 0.20%
Schroder Credit Securities Fund - Professional Class 0.20% 0.20%
Schroder Cash Plus Fund 0.12% 0.12%
Schroder Enhanced Cash Management Fund** Nil Nil
Schroder Enhanced Core Bond Fund** 0.10% 0.10%
Schroder Higher Yielding Credit Pool** 0.20% 0.20%
Multi-AssetBuy spreadSell spread
Schroder Real Return CPI +5% Fund - Wholesale Class 0.20% 0.20%
Schroder Real Return CPI +5% Fund - Professional Class 0.20% 0.20%
Schroder Real Return CPI +3.5% Fund** 0.18% 0.18%
Schroder Balanced Fund – Wholesale Class 0.22% 0.22%
Schroder Balanced Fund – Professional Class 0.22% 0.22%

The buy/sell spread is not subject to GST. No part of the buy/sell spread is paid to Schroders - the amount is retained in the assets of the relevant Fund to protect ongoing investors from the transaction activity driven by applications and withdrawals.

The buy/ sell spread may, subject to law, be varied from time to time without notice, to ensure that non-transacting investors are not adversely impacted by the application or withdrawal by other investors. In stressed and dislocated market conditions, the buy/ sell spread may increase significantly. Schroders may also at our discretion reduce the buy/sell spread in certain situations such as when there is a simultaneous purchase and sale of units of equivalent value by different investors; or an investor subscribes assets (rather than cash) on an application or receives assets (rather than cash) on a withdrawal.

*The Schroder Global Quality Fund currently accesses investments indirectly by investing in the Schroder international selection fund, QEP Global Quality. While the Fund predominantly invests indirectly, the buy/sell spread will not apply. This is because the underlying fund adopts a separate pricing mechanism to manage the impact of investors applying or redeeming funds.

**These Funds are available through an information memorandum.