Aim The primary objective of the Fund is to generate income and thereafter long- term capital growth in real terms. Income To achieve an annual income return in excess of the benchmark yield. Benchmark NI CENTRAL INVESTMENT FUND FOR CHARITIES Investment Factsheet as at 31 March 2015 Fund Information Launch Date1965 Fund Size£36.97m Share Price p Dividend Payment DatesJun & Dec Year End30 Sept CurrencySterling Annual Management Fee0.35% Key Details Long-term Total Return (Gross) Northern Ireland Central Investment Fund for Charities is a registered charity with HMRC This is a financial promotion and is not intended as investment advice. Background The Northern Ireland Central Investment Fund for Charities (NICIFC) was set up in 1965 through the Charities Act (Northern Ireland) 1964, with the aim of providing Charities with the opportunity to invest all or part of their assets in a centrally pooled fund, administered by the Department for Social Development. The Fund is managed by recognised fund managers, with its investment policy and performance reviewed on a quarterly basis by a locally based Advisory Committee, appointed by the Department. The NICIFC operates as a Discretionary Managed Fund, with participating Charities allocated a proportionate number of shares based on the size of their investment and the most recent valuation (share price). The Fund invests in Fixed-interest securities, UK & Foreign Equities and selected Unitised Funds. The allocation between these asset classes is reviewed and adjusted periodically, in line with the Fund’s investment policy. Risk Factors Fund Performance to 31 st March months 3 Years Annualised FTA Govt All Stocks25% FTSE All Share50% FTSE World ex UK20% LIBID 7 Day5% NICIFC3.9% 11.0% Composite Benchmark4.4% 9.7% Dividend Yield (Fund)3.8% Dividend Yield (Target)2.9% Portfolio and benchmark returns for the quarter to 31/03/15 are preliminary estimates provided by Standard Life Wealth and have not been verified externally. They could, therefore, be liable to subsequent adjustment. Based on the definitions of risk determined by Standard Life Wealth, the portfolio is categorised as being managed with a higher Medium risk approach. The value of any investment may go down as well as up, as can the income generated from it. Year YTD 2015 NICIF Benchmark The Department is currently conducting a review of the Northern Ireland Central Investment Fund for Charities. The Fund will continue to be managed by the Department and the Investment Manager (currently Standard Life Wealth) as normal. However, new additions to the Fund have been temporarily suspended. There will be no change to the process of making withdrawals from the Fund and the bi-annual dividend will continue to be paid as usual. For those Charities that have requested their bi-annual dividends be reinvested this process will be suspended and all payments will be made to your stated bank account. Temporary Suspension of the Fund

NI CENTRAL INVESTMENT FUND FOR CHARITIES Investment Factsheet as at 31 March 2015 Fund Manager The current Fund Manager is Standard Life Wealth. 1 George Street, Edinburgh EH2 2LL. Standard Life Wealth are regulated by the Financial Conduct Authority. Standard Life Wealth applies a global thematic stock picking strategy. This focus on themes helps to identify the catalysts for change and capture opportunities wherever they occur. Issued by Northern Ireland Central Investment Fund for Charities (NICIFC). NI CIFC is managed by the Department for Social Development through recognised fund managers, and its investment policy is guided by a locally based Advisory Committee appointed by the Department. All information (excluding Historic Fund Performance) is sourced from Standard Life Wealth Ltd. All data as at 31 March Source: Standard Life Wealth 31 st March 2015 Market Commentary Historic Fund Information As at 30 Sept Share Price (p) Annual Dividend (p) Yield (%) Shares in issue as at 31/12/2014 3,024,381 Shares in issue as at 31/03/2015 3,095,003 Ethical Restriction: No direct investment permitted in tobacco stocks Sector Allocation as a % of Total Market Value NICIFC Fund Composition Contact The first quarter of 2015 has witnessed 25 countries cutting interest rates in an effort to either kick start an ailing economy or dissuade investors from treating currency as a safe haven. Economic growth remains fragile and inflation edges ever further down with US, UK and Japanese Consumer Price Index all standing at 0%, and the Eurozone lurching into deflation at 0.3% in spite of the Quantitative Easing policies of Japan and Europe pumping more money into the global economy than ever before. The positive performance of global equity markets in the face of these pressures seems somewhat curious and counter intuitive, but the market has been here before when a negative economic backdrop can result in a positive outcome for financial assets. The US economy ticks along nicely although growth forecasts have been trimmed. Unemployment continues to fall as does inflation (largely helped by the oil price decline) and speculation grows over when the Federal Reserve will start increasing interest rates. In the UK there is uncertainty as we head to the polls. Looking at the last five UK elections and the subsequent 12-month market performance reveals some interesting results. These range from a gain of 36% to a loss of 14% (Tony Blair’s first and second win) and in the 12 months after the formation of the current coalition, the UK market bounced over 18%. China continues to face a period of transition from an economy driven by exports and infrastructure spend to one focused on the domestic market and consumers. With this change of focus comes a slowing in economic expansion and although most developed countries would be envious of China’s high growth rate, the latest reduction has caused investors to reassess the Chinese investment landscape. Standard Life Wealth believe their stock-picking approach is well suited to this environment – particularly given the flexibility of their investment strategies and the depth of their investment research capability. In an uncertain world their themes help see through the short-term market noise and frame their investment ideas on long-term secular growth trends. NI Central Investment Fund for Charities. c/o Department for Social Development, The Lighthouse Building, 4 th Floor, 1 Cromac Place, Gasworks Business Park, Ormeau Road, Belfast BT7 2JB. Tel: (028) or or