Aim The primary objective of the Fund is to generate income and thereafter long-term capital growth in real terms. Incom

1. NI CENTRAL INVESTMENT FUND FOR CHARITIES Investment Factsheet as at 31 March 2014 Background Fund Information 3 months 3 Years Annualised Fund Performance to 31st March 2014 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 Long-term Total Return (Gross) Key Details Risk Factors The portfolio is being managed with a Medium Risk approach. The value of any investment may go down as well as up, as can the income generated from it. Perspective Shareholders may wish to seek independent advice before investing in this Fund.

2. NI CENTRAL INVESTMENT FUND FOR CHARITIES Investment Factsheet as at 31 March 2014 Fund Manager Ethical Restriction: No direct investment permitted In tobacco stocks Sector Allocation as a % of Total Market Value NICIFC Fund Composition The current Fund Manager is Standard Life Wealth. 30 Lothian Road, Edinburgh EH1 2OH. Standard Life Wealth are regulated by the Financial Conduct Authority. Standard Life Wealth is a global thematic stock picking company. This focus on themes helps to identify the catalysts for change and capture opportunities wherever they occur. Historic Fund Information Source: Standard Life Wealth 31st March 2014 Market Commentary The state of the world in 2014 for financial investors requires a dualistic interpretation: financial markets continued to offer the long term investor a means of achieving specific financial objectives, but this came alongside continued short term volatility. Indeed, a see-saw effect was in evidence during the opening months of the year with markets down in January, up in February and then for completeness, broadly flat in March. Headline news was reflective of this: markets rise, the recovery stalls, economic green shoots strengthen. Will Markets have reacted with moderate indifference to events in Eastern Europe, certain governments continue to look beyond their borders, either to enhance their interests, or to deflect from domestic issues. With an increasing divergence between economies and geographically focused stock markets, we are convinced that our thematic stock-picking approach is well suited to the current environment, particularly given the flexibility of our investment strategies and the depth of our investment research capability. Despite the challenges that we may face in the future, both predicable and unseen, investment opportunities will always exist for the long term investor, particularly for those invested in businesses that have the ability to weather short term macroeconomic turbulence. Central Investment Fund for Charities. c/o Department for Social Development, The Lighthouse Building, 4th Floor, 1 Cromac Place, Gasworks Business Park, Ormeau Road, Belfast BT7 2JB. Tel: (028) 90829240 or email colin.alderdice@dsdni.gov.uk or susan.calwell@dsdni.gov.uk. Contact