Schroder Japan Growth Fund plc

The following risks are associated with investments the Schroder Japan Growth Fund plc:

• Portfolios which invest in a smaller number of stocks carry more risk than funds spread across a larger number of companies.
  
  
• Exchange rate changes may cause the value of overseas investments to rise or fall.
  
  
• Investments in the Far East involve an above average degree of risk and should be seen as long term in nature
  
  
• Investment trusts may use a certain amount of borrowing to purchase additional holdings, which is known as gearing. Gearing will increase returns if the value of the investments purchased rise faster than borrowing costs, or reduce returns if they fail to do so.