There is the potential for loss to your original investment amount and it is very important that you understand the risks and take advice if you are unsure in any way. While investment risk cannot be removed, the Premier Portfolio Management Service investment committee will manage each portfolio with the aim of ensuring that the level of risk is appropriate for the portfolio’s risk profile. What are the investment risks? Some of the more general risks of investing that you should be aware of before investing are summarised below: Past performance is not a guide to future returns. The value of an investment and any income from it can go down as well as up and there is the possibility of loss to some of your original investment. There may be a variation in the performance between portfolios with similar objectives due to the different funds and assets selected. Performance of a portfolio will be affected by the investment decisions of the investment committee and the fund managers of the underlying funds. If you withdraw part of your investment, or take an income greater than the natural income or growth of your investment, there is a risk that you could get back less than you invested. Inflation could erode the value of returns from your investment. There is the risk that the entire market of an asset class will fall, affecting the value of assets and the return on your investment. There is no guarantee that the investment objectives of a portfolio will be achieved. The levels of taxation and of relief from taxation will depend upon individual circumstances. The amount of income generated by the income portfolios will depend on a number of factors, including current market conditions and performance of the funds held within the Portfolio. The amount of income you can expect to receive is not guaranteed and will fluctuate. The portfolios will invest in different funds which will have exposure to a wide range of investment types, geographic regions and assets, which could include company shares, bonds, alternative assets (non-traditional investments) and commercial property. Whilst holding a range of funds can help to spread risk through the diversified nature of the underlying investments, these investments carry different risks that could impact on the returns generated. Types of specific risk that could impact returns: Collective Investment Schemes: the Premier Funds may be directly invested in, or have exposure to, units in Collective Investment Schemes including those comprising commodity funds, hedge funds and property funds, which could expose the relevant Premier Fund to increased levels of risk; Concentration:funds that have a strong focus on a particular asset, sector or region, can carry a higher risk than funds with a more diversified portfolio; Counterparty:some investments are reliant on a specific entity, usually a large bank, to honour its repayment obligations; failure of such a bank to do so may impact returns; Credit: the risk that the issuer of a security held within the Premier Funds is unable to make income payments or repay its debt; Currency: where investments are denominated in currencies other than sterling, changes in exchange rates may cause their value to rise or fall; Derivatives: this is a financial contract whose value is related to the value of an underlying asset or index often used with the aim of managing risk or enhancing returns, and whilst their use is not necessarily expected to increase risk within a fund, they could expose a fund to higher levels of volatility in certain conditions; Emerging market: some overseas markets typically carry higher risk than more established and developed overseas and domestic markets; Equities: as an asset class, equities can experience higher levels of fluctuation than bonds or money market securities; Fixed interest securities:this type of asset, which includes bonds and gilts, can be particularly affected by movements in interest rates. If interest rates rise, their price may fall, and vice versa; Futures/forward contracts: typically used for portfolio management purposes to help mitigate interest, equity and currency risks but could also expose the fund to volatile returns from time to time; Inflation: fixed interest securities, such as bonds, are particularly affected by trends in interest rates and inflation; Interest rate: where the fund has exposure to fixed interest securities such as bonds, these are particularly affected by trends in interest rates and inflation. If interest rates go up, the value of capital may fall and vice versa; Legal/tax: arising from a change in legal/tax regulation or the application of them; Liquidity: during difficult market conditions, some securities or larger holdings may become more difficult to sell quickly at a desired price; Market: the risk of a fall in price of a particular asset type; Multi-asset funds: multi-asset funds may have exposure to a wide range of different investment types, geographic regions and assets which could include equities, bonds, alternative assets (which are types of non-traditional investments) and property, all of which carry specific risks that could impact on returns; Operational: operational processes can fail. This is more likely to happen with more complex products or investments in overseas markets, such as emerging markets countries, which may not have the same level of safekeeping, infrastructure or controls as more developed markets; Smaller companies: investment in smaller companies may carry higher risks, as their securities tend to be less liquid than larger companies and they therefore experience greater fluctuations in price; Structured investments: these are investments which are usually linked to the performance of one or more underlying instruments ,or assets, such as market prices, rates, indices, currencies or commodities and in certain circumstances may introduce significant risk that might affect returns; Sub-investment grade bonds: these have lower credit ratings than investment grade bonds and therefore carry a higher degree of credit risk; Zero dividend preference shares: although historically these have typically proved to be a lower risk investment than more traditional shares, serious falls in stockmarket levels can alter their structure and adversely impact their performance. While the risk of loss to an investment cannot be removed, the Premier Portfolio Management Service investment committee will look to manage the levels of risk in line with each portfolio’s objective and risk profile. It is important that the Premier Portfolio Management Service is accessed through a professional financial adviser who can advise on the suitability of a portfolio, Premier Asset Management is unable to accept direct applications; all applications to invest must be made through an authorised financial adviser. If a client no longer has a financial adviser, and does not appoint a new financial adviser, their account may be closed and their investment returned. It is important this information is considered in conjunction with the Premier Portfolio Management Service Terms and Conditions.