EP Global Opportunities Trust : March 2022

Inception Date	Investment Objective
15 December 2003
The Company's objective is to provide Shareholders with an attractive real long-term total return
Investment Manager	by investing globally in undervalued asset classes. The portfolio is managed without reference to
Edinburgh Partners	the composition of any stock market index.
Lead Manager
Sandy Nairn
Investment Approach
Year End
The Company invests in a range of assets across both public and private markets throughout the
31 December
world. These assets include quoted and unquoted securities, investment companies, funds, debt
Total Assets
instruments, cash, short-term deposits or derivatives. No investment in the Company's portfolio
£96.4m
may exceed 15% of the Company's total assets at the time of investment. Investments in private
NAV per Share
markets will not, in aggregate, exceed 30 per cent. of total assets at the time of investment. Up to
329.8p
50 per cent. of total assets may be invested in bonds, debt instruments, cash or cash equivalents.
Share Price 1
Occasionally the Company may borrow for investment purposes up to the equivalent of 25% of its
298.00p
total assets.
Discount to NAV	Our portfolio manager's investment approach is long-term and focused on absolute valuation. It
9.6%	aims to identify and invest in undervalued asset classes, and to have the patience to hold them
Active Share 2	until they achieve their long-term earnings potential or valuation. The portfolio will usually have a
96.8%	high active share, that is to say it will have a very low correlation to the shares in the FTSE
Turnover 3	All-World Index. Portfolio turnover is generally low.
32%
Gearing (Net) 4	Top 10 Equity Holdings
None

Country

Company

Sector

% of Net AssetsNumber of Holdings 27

Annual Management Fee 0.75% to £100m, 0.65% above (based on market cap)

Templeton European Long-Short Equity SIF Volunteer Park Capital Fund ENI

Financials

Other - Europe 9.8

Total

Ongoing Charges 5 1.1%

Dassault Aviation Unilever

Orange

Dividends Annual

Stock Identifiers SEDOL Code - 3386257 TIDM - EPG

Sumitomo Mitsui Trust Royal Dutch Shell B Raytheon Technologies

Financials Energy Energy Industrials Consumer Staples Communication Services Financials

Luxembourg 5.9

Italy 2.9

France 2.9

France 2.8

United Kingdom 2.8

France 2.5

Japan 2.4

Energy Industrials

United Kingdom 2.4

United States 2.3

Total 36.7

ISIN - GB0033862573

Sector Analysis (%)

Regional Analysis (%)

Listing

London Stock Exchange

Financials20.2

• 1 Quoted is the mid-market closing price on the London Stock Exchange on 31 March 2022

  Europe ex UKHealth Care

  8.9 12.817.3

  39.227.4

  Communication Services8.4

  15.9

• 2 The Active Share is calculated by taking 100% less Coverage. Coverage is the total of the portfolio of investments that overlaps with the benchmark index

  11.4

  UK

  14.3

  Energy

  8.2

  5.8

  8.5

  Industrials

  7.2

  Japan

  4.5

  17.4

• 3 Turnover is calculated by dividing the total of purchases and sales of investments in a year by two, then dividing by the average monthly net assets of the Company in a year.

  Consumer Staples

  4.8

  6.3

  Americas

  Information Technology

  4.1

  6.3 3.9

  6.6

  Materials

  2.2

• 4 The Company has no net gearing

  Asia Pacific ex Japan

  2.0

  2.0

  8.6

• 5 Based on expenses for the year to 31 Dec 2021, including look-through costs.

Consumer Discretionary

2.1

6.8

Fixed Income

Real Estate

1.9

8.6

2.1

Fixed Income

8.6

28.1

Cash & Others

19.8

Cash & Others

28.119.8

2022 2021

2022 2021

END MARCH 2022

Investment Manager's Philosophy

Through disciplined and intensive research, Edinburgh Partners identify stocks which they consider are clearly undervalued. It is their belief that such undervaluation arises because the stock market's investment horizon is too short. They buy and hold stocks based on valuation and not by reference to an index weighting. As long-term investors (5 years or more), they stress the need for patience in investing.

Periodic Performance* (%)

1

Mth

3 Mths

12 Mths

2 Yrs

3 Yrs

5 Yrs

Since Inception p.a

Past performance is no guide to future performance.

*Inception date 15 Dec 2003. Share Price and FTSE All-World Index total

Share Price

5.3

2.4

5.6

14.6

1.0

2.3 7.8

returns are sourced from Refinitiv Datastream/Bloomberg. Share price

Net Asset Value (NAV) per share

0.4

3.7

8.4

11.6

2.5

3.0 8.5 returns are calculated on a closing mid price basis. NAV returns,

FTSE All-World Index

4.1

-2.4

12.7

25.4

13.9

10.9 10.6 including current period income, are sourced from Edinburgh Partners. All dividends are reinvested at the

Discrete Performance* (%)

ex-dividend date.

31 Mar 21 31 Mar 22

31 Mar 20 31 Mar 21

31 Mar 19 31 Mar 20

31 Mar 18 31 Mar 19

31 Mar 17 31 Mar 18

Returns shown in the table alongside for periods greater than 12 months

Share Price

5.6

24.2

-21.5

8.3 0.3

are annualised. The FTSE All-World Index figures are included for

Net Asset Value (NAV) per share

8.4

14.9

-13.6

3.5 4.2 reference purposes only.

FTSE All-World Index

12.7

39.6

-6.2

10.7 2.9

Dividends

Total

2021* 5.0p

2020 6.0p

2019 7.5p

2018 6.5p

2017 5.3p

Dividends are shown in this table once announced. *Proposed dividend

Risk Warnings

The Company is listed on the London Stock Exchange. As a result, the value of the shares and any income derived from them can fall as well as rise, and investors may not get back the full value of their investment. As the Company invests in overseas securities, fluctuations in exchange rates may also cause the value of the shares (and any income from them) to fall as well as rise. The Company can borrow money to make further investments. This is known as 'gearing'. The effect of gearing can enhance returns in a rising market, but if the value of the investments falls, any borrowing will increase the amount of the loss. The Company can buy back and cancel its own shares. The risks from borrowing referred to above, are increased when a Company buys back and cancels its shares. The Company's portfolio is likely to be more concentrated than that of other companies and the share price and NAV are therefore likely to be more volatile than other more diversified portfolios. The Company charges 70% of management fees and finance costs related to borrowings to capital and 30% to income. With the exception of costs that are incidental to the acquisition or disposal of investments, which are charged to capital, all other expenses are charged to income. Where income is low, expenses may exceed the total income received and capital value would be reduced. Stocks held in the fund may decrease in price or may not increase in price as anticipated if they continue to be undervalued by the stock market or if the factors that the Investment Manager believes will cause the stock price to increase do not occur. Edinburgh Partners' style may perform better or worse than equity funds that follow other approaches. The Company may also invest a substantial portion of its assets in debt instruments, cash or cash equivalents. Fixed Income Securities may be affected by changes in expectations of inflation, changes in interest rates and the credit rating of the issuer. Holding cash balances can protect against losses in falling equity markets, but if equity markets rise, the Company may not experience the same level of returns as equity markets.

ENQUIRIES

Contact: Robert Coulter

T: [phone] F: [phone] E:[e-mail] W:www.epgot.com

EP Global Opportunities Trust plc (the Company), is an investment trust and as such is not authorised or regulated by the Financial Conduct Authority. This factsheet does not constitute, a recommendation, offer, invitation or solicitation to deal in securities. This factsheet contains information and opinions which may change without notice. Any information on investments does not constitute independent research and is therefore not subject to the protections afforded to independent research. The Directors of the Company and employees of the investment manager may have dealt or have positions in the securities mentioned. Further details of the risks associated with investment in the Company, information about how charges are applied and a Key Investor Document can be obtained by contacting the number or email address alongside.

27-31 Melville Street Edinburgh EH3 7JF

Franklin Templeton Investment Trust Management Limited(FTITML) (Financial Services Register 613473), 5 Morrison Street, Edinburgh EH3 8BH. Registered in

© Edinburgh Partners 2022. All Rights Reserved.

Scotland Number SC460631. FTITML is authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN.