Monthly performance update

1. United States 52.39%
United Kingdom 16.85%
France 9.42%
Switzerland 2.82%
Jersey 2.79%
Top 5 Countries
June 2015
Investment Policy
Investment Strategy: Long only, unleveraged, international ‘blue chip’ equity income fund with option overlay.
Rationale: We believe that the best way to make money begins with your chance of losing it. Agreeing to buy holdings in companies
at prices below their real worth builds in a margin of safety. We get paid a fee for these agreements. If we are ‘assigned’ the stock,
we receive a great company at a compelling price. If not we continue to ‘write’ new agreements for upfront payments.
Objective: Deliver positive, inflation beating returns, partly through solid income streams, without incurring significant losses.
Targeting 6% dividend on distribution classes.
Performance Metrics
Cumulative Performance (% in GBP) to 30th June 2015
1 Month 3 Months 6 Months 1 Year 3 Years 5 Years 10 Years Since Inception
Fund Return -1.95% -0.18% 1.67% 3.52% 25.68% 37.85% 50.04% 109.13%
Benchmark Return -1.46% -0.50% 1.66% 3.56% 24.20% 33.61% 42.21% 55.67%
Annual Performance
2001 1.28% 2009 16.56%
2002 8.37% 2010 3.80%
2003 20.99% 2011 -1.05%
2004 9.64% 2012 8.30%
2005 12.04% 2013 11.11%
2006 12.72% 2014 6.35%
2007 4.59% 2015 ytd 1.67%
2008 -14.99%
Performance between 2001 and 2002 was from managed accounts. Performance from 2003 is the
gross performance of the Orchard Funds PLC A Class. Net performance of Class A Accumulation shares
quoted from January 2011. Monthly dividends, quarterly payments performance quoted gross prior to
2011.
Key:
Orchard Wealth Management Ltd is licensed to conduct investment business by
the Jersey Financial Services Commission. Orchard Funds Plc has the status of a
recognised scheme under Section 264 of FSMA 2000 of the United Kingdom.
Past performance is no guide to the future. Investments can go down as well as up
and investors may not get back the whole amount they invested. For full disclosure
of the risk warnings please visit our website.
Orchard Funds PLC
Equity Income & Total Return
6% Targeted Annual Yield
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Nov-00 Nov-01 Nov-02 Nov-03 Nov-04 Nov-05 Nov-06 Nov-07 Nov-08 Nov-09 Nov-10 Nov-11 Nov-12 Nov-13 Nov-14
Orchard Strategy
Benchmark (50% MSCI World Equities 50% Cash)

2. Consumer, Non-cyclical 22.50%
Industrial 14.97%
Communications 12.24%
Financial 11.71%
Consumer, Cyclical 7.54%
Technology 7.12%
Energy 5.23%
Basic Materials 3.63%
Diversified 2.97%
Utilities 0%
June 2015
Sector and Allocation Breakdown
10 Largest Holdings
PRICELINE 3.04%
LVMH 2.97%
BLACKROCK 2.96%
VINCI 2.94%
NORFOLK SOUTHERN 2.90%
EXPRESS SCRIPTS 2.83%
ROYAL DUTCH SHELL 2.82%
NOVARTIS 2.82%
BRITISH AMERICAN TOBACCO 2.81%
GILEAD 2.80%
Key:
Fund Facts
Launch Date
14 January 2003
Fund Manager
Richard Harwood
(since inception)
Fund Structure
UCITS IV
Domicile
Dublin
AMC
1.25%
Currencies
GBP, USD, EUR, CHF
Administrator
CACEIS Ireland
Limited
Min Subscription
50,000 for individuals, 10,000 for platforms and
designated bodies
Dividend Yield
Target 6%
2015 Est 6.6%
Dividend Policy
Distribution
Dealing Days
Daily
Fund AUM
£69.9m
+ 44 (0) 1534 616818
fo@orchardwealthmanagement.com
www.orchardwealthmanagement.com
Regulated by the Jersey Financial Services Commission
Company Information
Charles Bisson House
First Floor
30-32 New Street
St Helier
Jersey
JE2 3TE
Orchard Wealth Management Ltd is licensed to conduct investment business by
the Jersey Financial Services Commission. Orchard Funds Plc has the status of a
recognised scheme under Section 264 of FSMA 2000 of the United Kingdom.
Past performance is no guide to the future. Investments can go down as well as up
and investors may not get back the whole amount they invested. For full disclosure
of the risk warnings please visit our website.
Orchard Funds PLC
Equity Income & Total Return
6% Targeted Annual Yield