Accounting and valuation policies

This interim report was prepared in accordance with the accounting and valuation policies jointly prepared by the AP Funds. These are presented in AP4’s 2015 annual report,
available at

Figures contained in the tables and charts have each been individually rounded correctly, and hence may not always sum to the totals. Figures in parentheses refer to the interim report for the first half 2015 if not otherwise stated.

This interim report has not been audited by AP4’s auditors.