Reasons Why

Premier Multi-Asset Distribution Fund
Premier Multi-Asset Growth Fund

Trading Notes

Applicable to Premier Conservative Growth Fund
10th June 2011 - BUY: BNP Paribas Absolute Progression 2
8th June 2011 - SELL: NB Global Floating Rate Income Fund Ltd
12th May 2011 - BUY: CATCo Reinsurance Opportunities Fund
18th-19th April 2011 - SELL: Henderson Diversified Income
15th April 2011 - BUY: NB Global Floating Rate Income Fund Ltd
29th March 2011 - SELL: HICL Infrastructure
15th March 2011 - BUY: HSBC 8% DJ Eurostoxx Defensive Autocall
15th March 2011 - BUY: Acencia Debt Strategies
14th March 2011 - BUY: MS FT100 3yr Synthetic Zero Accrual
March 2011 - MATURED: M&G Equity ZDP
26th January 2011 - MATURED: HSBC 8.65%/10% Defensive Autocall
31st December 2010 - MATURED: Merrill Lynch 25B Japanese Accelerated
1st December 2010 - SELL: Close European Accelerated
30th November 2010 - BUY: HICL 'C' Infrastructure
26th November 2010 - SELL: Jupiter 2nd Split ZDP
26th November 2010 - SELL: F&C Private Equity Zero Dividend Preference Shares
15th November 2010 - BUY: Merrill Lynch 25B Japan Accelerated Growth
13th October 2010 - SELL: Utilico 2012 ZDP
13th October 2010 - BUY: HSBC FTSE Defensive 8.65% / 10% Autocall
13th October 2010 - SELL: Merrill Lynch UK Protected Call Spread 22c
13th October 2010 - BUY: Merrill Lynch Elders FTSE 100 Cap Protected 2

Applicable to Premier Multi-Asset Distribution Fund
23rd June 2011 - BUY: Pimco Select UK Income Bond
14th June 2011 - SELL: Ignis Corporate Bond
10th June 2011 - SELL: HICL Infrastructure
6th June 2011 - MATURED: Barclays FTSE 10.75%/-5% DEF Autocall
12th May 2011 - BUY: CATCo Reinsurance Opportunities Fund
15th April 2011 - BUY: NB Global Floating Rate Income Fund
17th March 2011 - BUY: GLG Japan Core Alpha Plus (£ Hedged)
15th March 2011 - SELL: Acencia Debt Strategies
15th March 2011 - SELL: Harewood BNP UK High Income
22nd February 2011 - SELL: Aviva Global Convertibles
11th January 2011 - MATURED: Symphony 12.25%/5% FTSE 100 Defensive Autocall
31st December 2010 - MATURED: Merrill Lynch 25B Japanese Accelerated Growth
15th December 2010 - SELL: F&C Commercial Property
30th November 2010 - BUY: HICL 'C' Infrastructure
29th November 2010 - BUY: John Laing Infrastructure
30th June 2010 - SELL: Henderson UK Property
21st June 2010 - MATURED: Elders Capital Accumulation 2
21st June 2010 - BUY: AXA US Short Duration High Yield Bond Fund
4th June 2010 - BUY: Barclays FTSE 100 Defensive 10.75% Autocallable Notes
5th May 2010 - SELL: Goldman Sachs Dividend Linked Equity Income
17th March 2010 - SELL: International Public Partnerships Ltd
9th March 2010 - BUY: MedicX
22nd February 2010 - SELL: Elders 14.5% FTSE 100 Autocall
25th January 2010 - SELL: Merrill Lynch 11%/10% FTSE 100 Defensive Autocall

Applicable to Premier Multi-Asset Growth Fund
8th June 2011 - SELL: NB Global Floating Rate Income Fund Ltd
6th June 2011 - MATURED: Barclays FTSE 10.75%/-5% DEF Autocall
12th May 2011 - BUY: CATCo Reinsurance Opportunities Fund
6th May 2011 - SELL: HICL Infrastructure
28th April 2011 - BUY: Merrill Lynch M032 16.9% Autocallable
28th April 2011 - BUY: Merrill Lynch M025 15.97% Autocallable
15th April 2011 - BUY: NB Global Floating Rate Income Fund
7th April 2011 - SELL: RWC Global Convertibles
5th April 2011 - MATURED: Merrill Lynch (ML 30) 11% European Defensive Autocall
9th March 2011 - BUY: Polar Hiscox Insurance Portfolio
25th February 2011 - SELL: M&G Strategic Bond, BUY: TwentyFour Dynamic Bond fund
7th February 2011 - BUY: Blackrock Gold & General
11th January 2011 - MATURED: Symphony 12.25%/5% FTSE 100 Defensive Autocall
31st December 2010 - MATURED: Merrill Lynch 25B Japanese Accelerated Growth
31st December 2010 - SELL: PSigma Income
30th December 2010 - SELL: Schroder Japan Alpha Plus
15th December 2010 - BUY: Blackrock Frontiers Trust
15th December 2010 - BUY: Cazenove UK Smaller Companies
13th December 2010 - SELL: AXA Framlington Japan Smaller Companies
7th December 2010 - BUY: BlackRock European Dynamic
1st December 2010 - SELL: Close European Accelerated
1st December 2010 - SELL: Close Japanese Accelerated 2
30th November 2010 - BUY: HICL 'C' Infrastructure
9th November 2010 - SELL: Schroder US Mid Caps (Acc)
9th November 2010 - SELL: Aviva Morley Global Convertibles
9th November 2010 - SWITCH: Henderson Global Investors Global Technology for Henderson Global Innovations
12th October 2010 - SELL: Marlborough UK Large Cap Growth
27th July 2010 - BUY: Invista Foundation Property
12th July 2010 - BUY: Absolute Return Trust
9th July 2010 - BUY: ING UK Real Estate Income Trust
13th September 2010 - SELL: Blackrock Gold & General
21st June 2010 - BUY: AXA US Short Duration High Yield Bond Fund
21st June 2010 - MATURED: Elders Capital Accumulation 2
30th June 2010 - SELL: Henderson UK Property
4th June 2010 - BUY: Barclays FTSE 100 Defensive 10.75% Autocallable Note
19th May 2010 - SELL: F&C Commercial Property
24th May 2010: SELL: Celsius Asian Real Estate Income
14th May 2010 - SELL: Aviva Morley Global Convertibles
26th April 2010 - SELL: Cazenove UK Dynamic
1st February 2010 - BUY: Elders 16A Capital Accumulator 2
25th January 2010 - SELL: Merrill Lynch 11%/10% FTSE 100 Defensive Autocall