Title: https://doc.morningstar.com/document/e7429cc50de5fb78d3ccc20526088b58.msdoc/ URL Source: https://doc.morningstar.com/document/e7429cc50de5fb78d3ccc20526088b58.msdoc/?clientid=equiniti&key=118e3421984822cc Number of Pages: 4 Markdown Content: 1 # Key Information Document ## Investor Class (ISIN: GG00BHXH0C87 ) ## PURPOSE This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, c osts, potential gains and losses of this product and to help you compare it with other products . ## PRODUCT The product is Ordinary Shares (“Shares”) issued by Worsley Investors Limited (the “ Company ” or “Worsley Investors” ). As a self -managed investment comp any Worsley Investors itself is the manufacturer. ISIN: GG00BHXH0C87 Please visit https://www.worsleyinvestors.com/ for further information or contact the Company’s Investment Advisor, Worsley Associates LLP on +44 (0)20 387 3 2288 or by e-mail to investmentrelations@worsleyassociates.co.uk . Worsley Associates LLP is regulated by the Financial Conduct Authority . Release Date: 15 February 20 22 You are about to purchase a product which is not simple and may be difficult to understand. ## WHAT IS THIS PRODUCT? Type: Shares issued by the Company , which is a closed -ended , non -cellular limited by shares , self -managed investment company incorporated in Guernsey on 5 April 2005 . The Shares are lis ted on the premium segment of the London Stock Exchange Main Market . Objectives: The Company’s investment objective is to provide shareholders with an attractive level of absolute long -term return, principally through the capital appreciation and exit of unde rvalued securities. In conjunction with the implement at ion of the strategy of investment in undervalued British quoted securities of smaller companies, the legacy real estate asset will be realised in an orderly manner, that is with a view to optimising i ts disposal value. Bid -offer spread: Shar es of the Co mpany are bought and sold via markets. Typically, at any given time on any giv en day, the price you pay for a Share will be higher than the price at which you could sell it. Intended retail investor: Th e Company is intended for sophisticated i nv estors, in vestment professionals, high net worth bodies corporate, unincorporated associ ations and partnerships and trustees of high value trusts who wish to invest for the long term, have experience in investing in financial markets and collective inves tm ent und ert akings, who understand the risks involved in investing in the Company (and/or those who have received advice from their fund manager, adviser or broker regarding investment in the Company and who can bea r the economic risk of a substantial or e nt ire los s of their investment and who can accept that there may be limited liquidity in t he Shares). Investors should familiarise themselves with the risks involved and must evaluate the Company 's objective and ris ks in terms of whether they are consisten t with th eir own investment goals and risk tolerances. No investment in the Company is int ended as a complete investment plan. Maturity Date: The Company does not have a fixed life. 2 ## WHAT ARE THE RISKS AND WHAT COULD I GET IN RETURN? Risk indicator # 1 2 3 4 5 6 7 Lower risk and typically lower rewards Higher risk and typically higher rewards The risk indicator assumes you keep the Product for 5 years. The actual risk can vary significantly if you redeem at an early stage and you may g et back l ess. You may not be able to sell. The summary risk indicator is a guide to the level of risk of the Product compared to other products. It shows how likely it is that the Product will lose money because o f movements in the market or because we are not able to pay you. We have class ified this Product as 4 out 7, which is a medium risk class. This rates the potential losses from future performance at a medium level, and poor market conditions could impact o ur capacity to pay you. This Product does not incl ude any protection from fut ure market performance so you could lose some or all of your investment. If we are not able to pay what is owed, you could lose your ent ire investment. The foll ow ing are some of the othe r types of risks materiall y relevant to the Shares , but which are not taken into account in the summ ary risk indicator: Operational ; key personnel; investment (related to the ass et s); residual value of assets on sale/re -lease; geo gr aphical; asset valuation; in surance, financing and reg ul atory . Performance Scenarios Investment of £10,000 Recommended > hol ding period Scenarios 1 year 3 years 5 years Stress Scenario What you might ge t back after costs £3,2 98 £3, 596 £2,688 Average Re turn each year -67. 02% -28 .89% -23 .11 % Unfavourabl e Scenario What you might get back after c osts £7,7 69 £6,280 £5,353 Ave rag e Return each year -22 .31 % -14 .37 % -11. 75 % Moderate Scenario What you might get back after costs £9,784 £9,375 £8,984 Averag e Return each year -2.16 % -2.13 % -2.12 % Fa vourable Sc ena rio What you might get back after costs £1 2,343 £14, 022 £1 5,105 Aver age Return each year 23 .43 % 11.93 % 8.60 % This table shows the money you could get back over the next 5 years, under different scen ario s, assumi ng that you in vest £10,000. The sc ena rios shown illustrate how your investmen t co uld perform. You can compare t hem with the scenarios of other products. The scenarios presented are an estimate of future performance based on evidence from t he p ast on how the value of this investment varie s, a nd are not an exact indicator. What you get will vary de pending on how th e market performs and how long you keep the investment /product . The stress scenario shows what you might get back in extreme mar ket ci rc umstances , and it d oes not take into accoun t th e situation where the Company is in liq uida tion . The fig ures shown in clud e all the costs of the product itself, but may not include all the costs which you pay to your advis er or distributor. The figu res do not take in to account your personal tax situati on, which may also affect how much you g et b ack. ## WHAT HAPP ENS IF THE CO MPAN Y IS UNABLE TO PAY OUT? The Company is not required to make any payment to you in respect of your investment. If the Company w ere liq uidated, yo u would be entitled to receive a distribution equal to your share of the Com pany ’s assets, aft er payment of all of its creditors. The Investment Advisor has no obligation to make any payment to you. Investors do not have protection from an Inves tor compens ation or guarantee scheme. 3 ## WHAT A RE TH E COSTS? The Reduction In Yield (RIY ) shows what im pact the total co sts you pay will have on the investment return you might get. Th e total costs take into account one -off, ongoing and incidental cos ts. The amou nts shown here are the cumulative costs of t he product itself, for three di ffer ent holding per iods. They would includ e potential early exit penalties , although not applicable with th is product . The figures assume you invest £10,000. The figure s are estimates and may change in the future. Costs over time The person selling you o r ad vising you about this product may char ge you other costs. If so, this person will provide you w ith info rmation about these costs and show you the impact which all c os ts w ill have on y our investment over time. Investment o f $10 ,000 Scenarios If you c ash in after 1 year If yo u cash in after 3 years If you cash in after 5 years Total Costs £31 8 £945 £1,5 60 Reduction In Yield (RIY) per year 3. 18% 3. 18% 3. 19 % Com position o f costs The Table below shows: The impact eac h year of the different types of c osts on the investment return you migh t get at the end of the recommended holding period; and The mean ing of the different costs categories. This table shows the impac t on retur n per year One -off costs Entry costs N/A No entry cos ts a re payable when you a cquire ordinary shares, although you m ay be required to pay brokerage fees or commissions. Exit costs N/A No exit costs are pa yable when you dispose of ordinary shar es, althou gh you may be required to pay brokerage fees or comm is sion s. Ongoing costs Por tfolio transaction costs 0. 52% The im pact of the costs of us buying and selling underlying investments for the product. Oth er ongoing fees 2. 67 % The impac t of the c osts that w e take each year for managing your investment an d on going costs. Inciden tal costs Performance fees N/A The prod uct does not have a performance fee a nd there are no other inci dental fees. Carried interests N/A No car ried interest is payable . ## HOW LONG SH OULD I HOLD IT, AND CAN I TAK E MONEY OUT EARLY? Recommended Holding Period (RHP ): 5 yea rs. The Compa ny 's inv es tment is designed to be long term; you should be prepared to stay invested for at least 5 years. As the Shar es are admitted to tr adin g on the Lo ndon Stock Exchange , you shou ld be able to sell your Shares through your bank, s tockbrok er or other si milar ad vi sers. If you choose to sell your Sh ares, you may be subject to dealing costs which your adviser charges for this service. The sal e of Shares may be at a discount to the Comp any's net asset value. ## HOW CAN I COMPLAIN ? As a sha reholder of the Compan y you do not have a right to complain to the Financial Ombudsman Service about the management of the Company . Comp lain ts about the Compa ny or t he key info rmation document can be made by post to the Company c/o Sanne Fund Services (Guernsey ) Lim ited , Sa rnia House, Le Truchot , St. Peter Port, Guernsey GY1 1GR, by telephone on +44 (0) 1481 737600 or via e -mail to: in fo@ pfs.gg ## OTHER REL EVANT INFORMATION 4 The discl osures in this KID, including the cost, performance and ris k calculations follow th e methodology prescribed by EU rule s. More information is available at Worsley Investors’s Website , https://www.worsleyinves tors.com/ .