Emerging Markets Targeted Value Fund Class D (GBP)

Inception Date
23 April 2007
SEDOL Code
B1W6DR0

The following is only a summary of the Fund. For a full description, please consult the Fund's prospectus.

The investment policy of the Emerging Markets Targeted Value Fund is to purchase securities of publicly traded companies listed in emerging markets that Dimensional deems both eligible smaller companies and eligible value stocks. Currently, the Fund intends to purchase a broad and diverse group of stocks traded on the principal exchanges of Brazil, Chile, China, the Czech Republic, Hungary, India, Indonesia, Israel, Malaysia, Mexico, the Philippines, Poland, South Africa, South Korea, Taiwan, Thailand, and Turkey. Dimensional reserves the right to amend the list of countries at any time. Companies are considered smaller primarily based on a company's market capitalisation. Securities are considered value stocks primarily because a company's shares have a high book value in relation to their market value. In assessing value, Dimensional may consider additional factors such as price-to-cash-flow or price-to-earnings ratios, as well as economic conditions and developments in the issuer's industry. The criteria that Dimensional uses for assessing value are subject to change from time to time.

Securities are considered value stocks primarily because a company's shares have a high book value in relation to market capitalisation. In assessing value, Dimensional may consider additional factors such as price-to-cash-flow or price-to-earnings ratios as well as economic conditions and developments in the issuer's industry. The criteria that Dimensional uses for assessing value are subject to change from time to time.

The Fund is organised under Dimensional Funds plc, an umbrella fund constituted as an investment company with variable capital under the laws of Ireland and authorised by the Irish Financial Services Regulatory Authority pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations of 2003 and operating as an Undertaking for Collective Investment in Transferable Securities.

Past performance of a fund does not necessarily indicate future performance.

The principal risks associated with an investment in this Fund are market risk, international investing risk, emerging market countries risk, foreign exchange risk, share currency designation risk, portfolio turnover risk, settlement risks, political and/or regulatory risks, custodial risk, equities risk, and value stocks risk. An investment in this Fund may also involve the risks associated with the use of when-issued and delayed-delivery securities, futures and options contracts, and convertible securities. There is no investment guarantee equivalent to deposit protection. These risks are more fully described in the prospectus in the section entitled "Special Considerations and Risk Factors."

Prices & Performance
Date/Time Closing
Price
Day
Return
MtD
Return
YtD
Return
23 July 2008/noon £9.500 1.93% -1.04% -17.72%
         
30 June 2008/noon £9.600 -0.41% -12.17% -16.85%
31 March 2008/noon £10.28 0.10% -4.73% -11.46%
31 December 2007/noon £11.61 0.61% 4.22% N/A
28 September 2007/noon £11.39 -0.87% 4.88% N/A

These Net Asset Values ("NAVs") have been prepared by the fund accounting agent. Dimensional Fund Advisors Ltd. reserves the right to restate these NAVs, if necessary, at any time.

For the help desk, call 00353-53-91-49-827.

Returns are calculated net of all fees.

Performance data reported by Dimensional Fund Advisors Ltd. represents past performance and does not predict future performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Further, there can be no assurance that any of the Funds will achieve its investment objective.


Distributions (last 12 months)
Type Amount per Share Record Date Ex-dividend Date Payable Date Ex-dividend Price
Dividend £0.0608 5/29/2008 5/30/2008 6/5/2008 £10.930
£0.0035 12/3/2007 11/30/2007 2/28/2008 £11.140
Dividend £0.0656 12/3/2007 11/30/2007 2/28/2008 £11.140


Top 20 Holdings
As of June 30, 2008 % of Portfolio
METALURGICA GERDAU SA-PRE 2.37
VOTORANTIM CELULOSE PAP-P 2.23
SUZANO PAPEL E CELULOSE S 1.76
SADIA SA-PREF 1.70
ALFA S.A.B.-A 1.59
EMPRESAS ICA S.A.B 1.47
GRUPO AEROPORTUARIO DE SU 1.42
BRASKEM SA-PREF A 1.18
AFRICAN RAINBOW MINERALS 1.11
CONTROLADORA COML MEXIC-U 1.05
CIA TELECOMUNICACION CHIL 0.72
INDUSTRIAS CH S.A.B.-SER 0.70
AVENG LTD 0.63
GRINDROD LTD 0.61
AGORA SA 0.61
GRUPO CARSO SAB DE CV-SER 0.59
CHAODA MODERN AGRICULTURE 0.58
SAPPI LIMITED 0.55
CHINA RESOURCES ENTERPRIS 0.54
AECI LTD 0.54
Total 21.41


Industry Allocations
As of June 30, 2008 % of Fund
Business Equipment 6.7
Business Services 2.0
Communications 2.1
Construction 8.5
Durables 6.3
Energy 2.0
Financial 17.9
Manufacturing 18.4
Non-Durables 24.6
Other 2.8
Transportation 7.5
Utilities 1.2
Total 100.0

Industries defined by Fama/French.