The investment objective of the VT LAMBDA Investment Fund is to provide a total return through a combination of capital growth and income over the long term (5 years +).

The Fund will aim to meet its objectives by primarily (70% +) investing directly, or indirectly via collective investment schemes and ETFs, in a diversified portfolio of equities and bonds. The allocation between direct and indirect exposure to such asset classes will vary depending on the manager's assessment as to the appropriate asset mix based on market conditions and at times the level of indirect exposure may be high. There will also be exposure, indirectly to various other asset classes including property and alternative assets such as commodities.

The Fund may also invest in other transferable securities, collective investment schemes (including those managed or operated by the ACD, including other sub-funds of the Company), money market instruments, deposits, cash and near cash.

The Fund will not have any particular industry or economic sector focus and as such weightings in these may vary as required.

Derivatives and forward transactions may be held for efficient portfolio management purposes.

The investment managers are SORBUS PARTNERS LLP. For more information on SORBUS PARTNERS LLP please visit www.sorbus.com.

Prospectus

Key Investor Information

Application Form

The latest net asset value per share is as follows:

Past performance is not necessarily an indication of future results