SWIP Property Trust

Full performance risks

Past performance is not a guide to future performance.

The value of your investment and any income from it can go down as well as up and is not guaranteed. This means that you could get back less than you invested.

The funds may have holdings which are denominated in different currencies and may be affected by movements in exchange rates. Consequently, the value of your investment may rise or fall in line with exchange rates.

Direct property investment risks relating to the SWIP Property Trust:

Funds investing in physical property may experience difficulties or delays in selling these assets. As a result, very occasionally there may be constraints on cashing in units.

If the value of the Fund falls significantly, it may not be possible to maintain the same diversification of risk, as there may be fewer properties held.

Commercial property is a less liquid asset than other asset classes such as bond or equities and values could be affected if properties need to be sold at short notice. It is a specialist sector which could be volatile in adverse market conditions.

Property valuation is a matter of judgement by an independent valuer. Valuation is therefore generally a matter of a valuer’s opinion rather than fact. The value of capital and income will fluctuate as property values and rental income rise and fall.

Derivatives transactions will be used for the purposes of efficient portfolio management, hedging and to meet the investment objectives of the Fund. Derivatives may be exchange traded or Over the Counter (OTC) derivatives.

You should refer to the Key Features Document for each fund for more details of fund specific risks.

SWIP Property Trust Literature

Our library of key documents presents detailed information on the Fund including reasons to invest, fund manager commentary and performance information.

Document	Download PDF
SWIP Property Trust Annual Report and Accounts - 31 December 2010
SWIP Property Trust Factsheet
SWIP Property Trust Full Prospectus
SWIP Property Trust Interim Report and Accounts - 30 June 2011
SWIP Property Trust Interim Report and Accounts (short) - 30 June 2011

Fund performance information

UK commercial property took another breather during June, with capital growth remaining flat. Data released during the month showed a total return of 0.7%, with capital growth of just 0.1%. Growth in the buoyant central London market is skewing returns and masking the declines seen elsewhere.

Fund performance in Euro (%)

Type
Fund return
Median return
Quartile

All data as at 30 September 2011 unless otherwise stated.
Past performance is not a guide to future performance.

SWIP Property Trust details

The Trust aims to provide investors with a total return consistent with a balanced commercial property portfolio.

Peer Group	APUTS, Members of the Association of Real Estate Funds
Sector	IMA Property
Fund Manager	Gerry Ferguson
Fund Launch Date	November 2004
Fund Size	£2.3 bn
Number of Holdings	114
Historic Yield (net)#	2.8% p.a
Initial Yield	6.0%

SWIP Code	HSPT_INV 01/12
Sedol	B036Z65
ISIN	GB00B036Z659
Bloomberg	SWIPRTA LN

Hermiston Gait Retail Park, Edinburgh (RW)	4.9%
Oxford Street, London (Retail)	4.7%
75 King William Street, London (Office)	4.3%
Beckton Triangle, London (RW)	3.6%
Asticus, 21 Palmer Street, London (Office)	3.1%
Brunel Retail Park, Reading (RW)	2.8%
The Bridge, Edinburgh (LEI)	2.8%
Goldstone Retail Park, Hove (RW)	2.7%
1 Tudor Street, London (Office)	2.5%
7-11 Herbrand Street, London (Office)	2.4%

Source: SWIP

All data as at 31 December 2011 unless otherwise stated

Important Information for retail clients

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Important Information for retail clients

Please read this page before proceeding, as it explains certain restrictions imposed by law on the distribution of this information and the countries in which our funds are authorised for sale. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction.

This does not constitute an offer or solicitation to sell shares in any of the funds referred to on this site, by anyone in any jurisdiction in which such offer, solicitation or distribution would be unlawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.

Applications to invest in any fund referred to on this site, must only be made on the basis of the offer document relating to the specific investment (e.g. prospectus, simplified prospectus or other applicable terms and conditions).

To invest in SWIP funds please contact your financial adviser. If you do not have a financial adviser please contact the IFA promotions line on 0800 085 3250, or online at www.unbiased.co.uk. where information on finding one can be obtained.

As a result of money laundering regulations, additional documentation for identification purposes may be required when you make your investment. Details are contained in the relevant Prospectus or other constitutional document.

If you are unsure about the meaning of any information provided please consult your financial or other professional adviser.

You may leave the Scottish Widows Investment Partnership Limited (SWIP) website when you access certain links on this website. In so doing, you may be proceeding to the site of an organisation that is not regulated under the UK Financial Services and Markets Act 2000. SWIP has not examined any of these websites and does not assume any responsibility for the contents of such websites nor the services, products or items offered through such websites.

SWIP shall have no liability for any data transmission errors such as data loss or damage or alteration of any kind, including, but not limited to, any direct, indirect or consequential damage, arising out of the use of the services provided herein.

On accessing the SWIP website, you are aware of the following investment risks applicable to all SWIP funds:

- Past performance is no guarantee of future performance.

- The value of investments and the income from them may go down as well as up and are not guaranteed.

- You may not get back the amount you invested.

- Taxation rules and legislation may change without notice.

- Rates of exchange may cause the value of investments to go up or down.

- Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may
fall suddenly and substantially.

- For your protection, telephone calls are usually recorded.

This site is operated and issued by Scottish Widows Investment Partnership Limited (SWIP), Company No. 794936. Registered Office in the United Kingdom at 33 Old Broad Street, London EC2N 1HZ. Tel: 0131 655 8500. Scottish Widows Investment Partnership Limited is authorised and regulated by the Financial Services Authority and is entered on their register under number 193707 www.fsa.gov.uk.

Reasons to invest in SWIP Property Trust

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Fund managers

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Scottish Widows Investment Partnership Limited (SWIP) is registered in England and Wales, Company No. 794936. Registered Office is at 33 Old Broad Street, London EC2N 1HZ. Tel: 0131 655 8500. SWIP is authorised and regulated by the Financial Services Authority and is entered on their register under number 193707 (www.fsa.gov.uk).