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Rogers International Commodity Index ETF

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					    RBS Market Access ETFs                                                                                                                                           November 2011




Rogers International Commodity
     ®
Index ETF
Fund investment objective                                                                    Historical Fund performance
The RBS Market Access Rogers International Commodity Index® ETF (the
“Fund”) is an Exchange Traded Fund, Luxembourg registered and UCITS                                            150
compliant, listed and tradable on several stock exchanges. The objective of                                    140
                                                                                                               130
the Fund is to mirror, as closely as possible the performance of the Rogers
                                                                                              Rebased to 100




                                                                                                               120
                                    ®              ®
International Commodity Index (the “RICI ” or the “Index”). The Fund will                                      110
                                                                                                               100
gain exposure to the Index by entering into one or more derivative
                                                                                                               90
contract(s) with UCITS eligible counterparties.                                                                80
Fund details                                                                                                   70
Fund type                                Exchange Traded Fund (UCITS)                                          60
                                                                                                                Oct 06           Oct 07         Oct 08        Oct 09        Oct 10      Oct 11
Legal name                               RBS Market Access
Legal Form                               SICAV                                                                       Rogers International Commodity Index® (EUR)**
                                                                                                                     Rogers International Commodity Index® ETF (EUR)*
Fund domicile                            Luxembourg
Investment manager                       The Royal Bank of Scotland plc
Management company                       RBS (Luxembourg) S.A.                                                                              1M           3M            1Y   YTD          Since
Custodian & administrator                RBC Dexia Investor Services Bank S.A.                                                                                                       inception
Auditor                                  PricewaterhouseCoopers S.à.r.l.                     Rogers
ISIN                                     LU0249326488                                        International
                                                                                                                                          3.76%     -4.82%      4.59% -8.80%          -12.70%
WKN                                      A0JK68                                              Commodity Index®
Inception date                           08 May 2006                                         ETF (EUR)*

Underlying Index                         Rogers International Commodity Index®               Rogers
Replication method                       Synthetic (swap based)                              International
                                                                                                                                          3.83%     -4.53%      5.78% -7.94%            -6.68%
Total Expense Ratio†                     0.70% p.a.                                          Commodity Index®
Fund currency                            EUR                                                 (EUR)**

Fund NAV                                 EUR 25.08
Total Fund assets                        EUR 233,385,058.87                                  Source for all data: RBS and Bloomberg.                                             31 October 2011

Bloomberg iNAV                           M9SANAV                                             * Fund performances are shown after the subtraction of the Total Expense Ratio and
                                                                                             transaction costs and include reinvested dividends net of taxes.
                                                                                             ** Index levels converted to EUR from USD.


† Total Expense Ratio was reduced from 0.85% p.a. to 0.70% p.a. effective 04 January 2011.   Past performance cannot be relied on as a guide to future performance.




The Royal Bank of Scotland plc is an authorised agent of The Royal Bank of Scotland N.V. in certain jurisdictions.
Rogers International Commodity Index® description                                                                      Index facts
The RICI® is a US dollar-denominated total return index that represents the                                            Name                                          Rogers International Commodity Index®
value of a basket of commodities consumed in the global economy, ranging                                               Bloomberg ticker                              RICIGLTR
from agricultural to energy to metal products. The Index provides exposure                                             Type                                          Total Return
to 38 different exchange-traded commodities, through futures contracts                                                 Currency                                      USD
quoted in 5 currencies, listed on 13 exchanges in 6 countries. A futures                                               Number of constituents                        38 futures contracts
contract is a standardised exchange traded contract between two parties to                                             Index calculator                              CQG
buy or sell an asset at a specified later date at a price agreed today.                                                Index website                                 www.beelandinterests.com


Key risks
Investors in the Fund are exposed to fluctuations of the Index which can go
down as well as up and may be subject to significant volatility due to market                                          Index composition by sector
conditions. Investors can lose up to the amount initially invested. Changes in
foreign exchange rates may affect the value of investments.
                                                                                                                                                                                               Energy 45.11%

The Index is based on commodity futures. The value of commodities is                                                                                                                           Exotics 10.32%
volatile and subject to market conditions and to whether or not any
                                                                                                                                                                                               Grains 18.28%
alternatives to that commodity exist. Commodity prices can be influenced by
                                                                                                                                                                                               Livestock 2.91%
the prevailing political climate and government stability in commodity
                                                                                                                                                                                               Metal 21.12%
producing nations.
                                                                                                                                                                                               Others 2.27%

In order to replicate the Index, the Fund enters into a swap derivative
agreement. Investors are therefore exposed to the risk that the swap
                                                                                                                      Source: RBS and Bloomberg.                                                              31 October 2011
counterparty defaults (swap counterparty risk), in that case they could suffer
substantial losses on their investment.


The price of the Fund quoted on the exchanges can be affected by several                                               Top 10 constituents of the Index
factors and may deviate from its Net Asset Value (NAV). On exchange                                                    Commodity                                                      Sector                      Weighting
liquidity cannot be guaranteed, meaning timing of entry/exit into the Fund                                             Crude Oil                                                      Energy                          22.20%
may be affected by market conditions.                                                                                  Brent Crude                                                    Energy                          14.07%
                                                                                                                       Corn                                                            Grains                           4.67%
Listing                                                                                                                When Wheat                                                      Grains                           4.52%
Exchange                                              Trading currency               Bloomberg ticker                  Cotton                                                         Exotics                           4.12%
         London Stock Exchange                                            GBP                        RICI LN           Copper                                                           Metal                           4.11%
         Deutsche Börse                                                   EUR                    M9SA GR               Aluminium                                                        Metal                           3.83%
         Euronext Amsterdam                                               EUR                     MRIC NA              Soybean                                                         Grains                           3.19%
         SIX Swiss Exchange                                               USD                     MRIC SW              Gold                                                             Metal                           3.02%
         Wiener Börse                                                     EUR                      MRIC AV             Gasoline                                                       Energy                            2.92%
         Borsa Italiana                                                   EUR                        RICI IM          Source: RBS and Bloomberg.                                                              31 October 2011




If unsure, investors should obtain professional advice before making any investment decisions.
RBS Market Access (the “Company”) and its sponsor, The Royal Bank of Scotland plc (“RBS plc”) do not offer advice to individual investors. RBS plc has taken reasonable care to ensure the accuracy of this information at
the time of publication but it is subject to change. This document is issued by RBS plc, acting through its offices at 250 Bishopsgate, London EC2M 4AA. RBS plc is authorised and regulated by the Financial Services
Authority. Calls may be recorded. The Company is regulated by the Commission de Surveillance du Secteur Financier in Luxembourg. Investors should read the Prospectus of the Fund carefully before investing and
inform themselves about the features of the Fund, the risks involved, potential legal and tax consequences, offering restrictions or exchange control requirements that may be encountered under their local country’s laws
and regulations. This document contains numerous trade marks belonging to The Royal Bank of Scotland Group plc and other companies within the RBS group. These trade marks include, but are not limited to, The Royal
Bank of Scotland logo, “The Royal Bank of Scotland” and “RBS”. Shares of the Fund are issued by the Company and are globally distributed by The Royal Bank of Scotland Plc. “Jim Rogers”, “James Beeland Rogers, Jr.”,
“Rogers”, “Rogers International Commodity Index” and “RICI” are trademarks, service marks and/or registered trademarks of Beeland Interests, Inc., which is owned and controlled by James Beeland Rogers, Jr., and are
used subject to license. The personal names and likeness of Jim Rogers/James Beeland Rogers, Jr. are owned and licensed by James Beeland Rogers, Jr. The RBS Market Access Rogers International Commodity
Index® ETF is not sponsored, endorsed, sold or promoted by Beeland Interests Inc. (“Beeland Interests”) or James Beeland Rogers, Jr. or Diapason Commodities Management SA (“Diapason”). Neither Beeland Interests,
James Beeland Rogers, Jr. nor Diapason makes any representation or warranty, express or implied, nor accepts any responsibility, regarding the accuracy or completeness of this factsheet, or the advisability of investing
in securities or commodities generally, in the Fund or in futures particularly. The Fund is not and will not be offered or sold in the United States, or to or for the account of U.S. persons as defined by U.S. securities laws.
Each purchaser of Fund shares will be asked to certify that such purchaser is not a U.S. person, is not receiving the Fund shares in the United States, and is not acquiring Fund shares for the account of a U.S. person.
NEITHER BEELAND INTERESTS NOR DIAPASON, NOR ANY OF THEIR RESPECTIVE AFFILIATES OR AGENTS, GUARANTEES THE ACCURACY AND/OR THE COMPLETENESS OF THE ROGERS INTERNATIONAL COMMODITY INDEX (“RICI”),
ANY SUB-INDEX THEREOF OR ANY DATA INCLUDED THEREIN. SUCH PERSON SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN AND MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO
RESULTS TO BE OBTAINED BY OWNERS OF THE FUND, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE RICI, ANY SUB-INDEX THEREOF, ANY DATA INCLUDED THEREIN OR THE FUND. NEITHER BEELAND INTERESTS NOR
DIAPASON, NOR ANY OF THEIR RESPECTIVE AFFILIATES OR AGENTS, MAKES ANY EXPRESS OR IMPLIED WARRANTIES, AND EACH EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE OR USE WITH RESPECT TO THE RICI, ANY SUB-INDEX THEREOF AND ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL BEELAND INTERESTS OR DIAPASON OR ANY OF
THEIR RESPECTIVE AFFILIATES OR AGENTS HAVE ANY LIABILITY FOR ANY LOST PROFITS OR INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES OR LOSSES, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF.




                    To find out more about RBS Market Access ETFs,
                    Log on to www.rbs.com/etfs or call +44 20 7678 1007




The Royal Bank of Scotland plc is an authorised agent of The Royal Bank of Scotland N.V. in certain jurisdictions.

				
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posted:11/23/2011
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