RM Infrastructure Income : RMII - KID - 31-08-2022

Key Information Document

This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products.

Product: RM Infrastructure Income plc (PRIIP)

ISIN: GB00BYMTBG55

PRIIP Manufacturer: RM Infrastructure Income plc

Website: www.rm-funds.co.ukCall: [phone] for more information.

Competent Authority: Financial Conduct Authority

This document was produced: 18/08/2022

What is this product?

Type: The PRIIP was incorporated in England and Wales on 27 October 2016, as public company limited by shares and listed on the London Stock Exchange Main Market. There is no fixed maturity date.

Shares of the PRIIP are bought and sold via markets. Typically, at any given time on any given day, the price you pay for a share will be higher than the price at which you could sell it and brokers may additionally charge commissions.

The product may borrow to purchase assets for the company. This will magnify any gains or losses made by the company.

Objectives: The PRIIP's investment objective is to generate attractive and regular dividends through investment in secured debt instruments of UK SMEs and mid-market corporates including any loan, promissory notes, lease, bond, or preference shares.

Intended retail investor: Typical investors in the PRIIP are expected to be institutional investors and professionally advised or financially sophisticated investors, who can evaluate the merits and risks of such an investment and whom have sufficient resources to be able to bear any losses.

What are the risks and what could I get in return?

Risk Indicator							Credit Risk: As the majority of the product's investments have
								credit ratings lower than investment grade; the portfolio is
1	2		3	4	5	6	7
	exposed to the risk that a deteriorating credit environment may
	lead to asset default, adversely impact the value of the products
								investments, credit income derived from the investments, or the
Lower Risk					Higher Risk	ability to sell them. As a result, the fund may be adversely
The risk indicator assumes you keep the product for 3 years.	effected and may not achieve sufficient income to enable it to pay
The summary risk indicator is a guide to the level of risk of this	investors the intended dividends.
product compared to other products. It shows how likely it is	Interest Rate Risk: The value of the product's underlying fixed
that the product will lose money because of movements in the	coupon holdings may be adversely impacted by rising interest
markets.							rates. Conversely, these holdings will benefit from falls in interest
We have classified this product as 3 out of 7, which is a medium-	rates. If interest rates differ from expectations the net income of
low risk class.							the PRIIP may be adversely affected.
The Risk Indicator rates the potential losses from future	Leverage or Borrowing Risk: Leverage within the PRIIP is
performance at a medium-low level, and poor market conditions	relatively short-term, whereas the Investments of the PRIIP are
are unlikely to impact your ability to realise your position.		medium to long-term. To the extent that refinancing facilities are
However, this PRIIP does not include protection from future	not available at economic rates or at all, the PRIIP may be required
market performance, so risk can vary significantly due to	to sell assets at disadvantageous prices, impacting the products
potential short-term market availability. As a result, realisations	value.
in such market conditions will significantly impact on how much	Market Risk: Should market conditions change, if there is
you get back.							deterioration in the intended investment pipeline and if liquidity
Counterparty Risk: Borrowers that the PRIIP provides loans to	is unable to be deployed into suitable opportunities, investors
may be exposed to credit risk from a wide range of	may experience "cash drag" which may impact the products
counterparties.	In the event of a counterparty default, there	ongoing dividend target and investment objective.
may be significant difficulties for the borrower in finding an	Liquidity Risk: As shares trade via the secondary market, trading
alternative or replacement counterparty on the same or better	volumes may reduce, or shares may trade at a discount to their
terms, potentially resulting in exposure to financial loss.		respective Net Asset Value, due to a variety of factors, such as
Currency Risk: Movements between the currency of underlying	market conditions, liquidity concerns or PRIIP performance. As a
assets and the currency in which the PRIIP prices may impact the	result, Shareholders may be unable to realise their investment at
final	return you	will get.	This risk is	not considered	in the	quoted market prices.

indicator shown above.

Performance Scenarios

Investment £10,000

			1 year	2 years	3 years
					(Recommended
					holding period)
	Stress scenario	What you might get back after costs	£1,823	£7,447	£6,952
	Average return each year	-81.77%	-13.71%	-11.41%
	Unfavourable scenario	What you might get back after costs	£8,955	£8,701	£8,583
	Average return each year	-10.45%	-6.72%	-4.97%
	Moderate scenario	What you might get back after costs	£10,390	£10,745	£11,113
	Average return each year	3.90%	3.66%	3.58%
	Favourable scenario	What you might get back after costs	£11,872	£13,068	£14,169
	Average return each year	18.72%	14.31%	12.32%

The table shows the money you could get back over the next 3 years under different scenarios, assuming that you invest £10,000.

The scenarios shown illustrate how your investment could perform. You can compare them with scenarios of other products.

The scenarios presented are an estimate of future performance based on evidence from the past, and are not an exact indicator. What you may get back will vary depending on how the market performs and how long you keep the investment.

The stress scenario shows what you might get back in extreme market circumstances, and it does not take into account the situation in which we are not able to pay you.

Furthermore, this information is compiled according to prescribed formulae which take into account, amongst other things, past performance. In the opinion of the product manufacturer, and based on the current portfolio construction, the product is unlikely and not designed to achieve consistent performance in line with the scenarios presented.

The figures shown include all the costs of the product itself and do not include any costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect the amount you get back.

What happens if RM Infrastructure Income plc is unable to pay out?

The value of the shares in the PRIIP is directly impacted by the solvency status of RM Infrastructure Income plc. No service provider to the PRIIP has any obligation to make any payment to you in respect of the Ordinary Shares. There are no investor compensation or guarantee schemes available to investors, should RM Infrastructure Income plc be unable to pay out. You should be prepared to assume the risk that you could lose all of your investment.

What are the costs?

Costs over	The Reduction in Yield (RIY) shows what impact the total costs you pay will have on the investment return you
time	might get. The total costs take into account one-off, ongoing and incidental costs (where applicable).
	The amounts shown here are the cumulative costs of the product itself, for three different holding periods. The
	figures assume that you invest GBP 10,000. The figures are estimates and may change in the future.
	The person selling to you or advising you about this product may charge you other costs. If so, this person will
	provide you with information about these costs and show you the impact that all costs will have on your
	investment overtime.
	Investment £10,000		If you cash in after 1 year	If you cash in after 2 years	If you cash in at the end of
					recommended holding
					period of 3 years
	Total Costs		£187	£385	£585
	Impact on return		1.87%	1.87%	1.87%
	(RIY) per year
Composition	The table below shows:
of Costs
• The impact each year of the different types of costs on the investment return you might get at the end of the
	recommended holding period.
	• What the different cost categories mean.

		Entry costs	N/A	As a closed ended collective investment scheme, no entry
	One Off	charges apply.
	Costs	Exit costs	N/A	As a closed ended collective investment scheme, no exit charges
		apply.
		Portfolio transaction	N/A	Costs pertaining to the buying and selling of the products
		costs	underlying investments.
	Ongoing
	*Other ongoing	1.87%	All charges applicable to the product.
	Costs	costs
		Performance fees	N/A	No performance fees apply.
	Incidental	Carried Interests	N/A	No carried interests apply to the PRIIP
	Costs	Carried Interests	N/A	No carried interests apply to the PRIIP

*'Other ongoing costs' outlined in the table above represents the ongoing costs to the Company which are deducted from its assets. They do not include any financing costs as these are not always ongoing. Including prior financing costs within 'Other ongoing costs' would generate a figure of 2.64% compared to 1.87% as shown within the table above.

How long should I hold it and can I take money out early?

The recommended holding period for the product is 3 years, however, the shares of the PRIIP trade continuously on the London Stock Exchange and is not bound by any prescribed redemption or sale restrictions.

How can I complain?

As a shareholder of RM Infrastructure Income plc you do not have the right to complain to the Financial Ombudsman Service (FOS) about the management of the PRIIP. Any complaints concerning this Product or the key information document should be sent to [e-mail] RM Infrastructure Income plc, 6th Floor, 125 London Wall, London, EC2Y 5AS - Attention: Company Secretary.

Other relevant information

The prospectus and any other information can be obtained from the following websites.

www.rm-funds.co.uk

www.londonstockexchange.com

Information on the gearing and borrowing limit can be found on page 60-61 of the prospectus.

Additional information on the Risk Factors can be found on page 26-42 of the prospectus.

Depending on how you buy these shares you may incur other costs, including broker commission, platform fees and Stamp Duty. The distributor will provide you with additional documents where necessary.

The methodology of the forecast is devised by the EU and the Regulator and not the Company.

The performance scenarios presented are an estimate of future performance based on evidence from the past.