Objectives and Investment Policy
The Fund aims to achieve capital growth (after fees) of at least the UK Consumer Price Index plus 2% per annum, over a three-year period.
Your capital is at risk, however, and there is no guarantee that a positive return will be achieved over three years, or any time period.
The Investment Manager has full discretion and will adopt a global multi-asset approach. The asset classes and geographical spread will vary over time.
The Fund may invest indirectly or directly in a diversified portfolio of assets which may include: company shares; bonds; money market instruments; currencies and derivatives and indirectly only in commodities; infrastructure; private equity (which is money invested in firms which are not listed on any stock exchange) and real estate to the extent that each is permitted by the Regulations.
The Fund will typically invest about 80% of the portfolio indirectly but at times, the Investment Manager may decide to invest directly where it considers efficient to do so, therefore, the indirect exposure may be higher or lower than 80% but is never expected to fall below 60%. Indirect exposure will be achieved through other investment funds and exchange traded funds anywhere in the world and in any sector. These other funds may be managed by the authorised corporate director or other third party managers. They may be actively managed or passively managed (that is funds which track or are closely linked to the performance of an index). Investment into passive funds will be limited to 20%.
The Fund is actively managed with a bias towards lower volatility assets such as alternatives and fixed income.
Typically, indirect or direct exposure in the Fund will be balanced between bonds, company shares and alternative assets (such as infrastructure and commodities), however, the asset allocation may vary significantly to protect the Fund in adverse market conditions or to pursue potential growth opportunities that arise. Asset allocation to any one of these sectors will not fall below 15% at any time.
The bonds and money market instruments which can be held by the Fund may be investment grade and/or sub-investment grade and are like loans to companies, governments and other organisations that can pay a fixed or variable interest rate and may be issued anywhere in the world. They are classified by rating agencies for their creditworthiness: those rated ‘investment grade’ generally carry a relatively low risk of default but also tend to offer lower yields than ‘non-investment grade’ bonds which in turn, generally have a higher risk of default but also tend to offer higher yields.
The Fund may use derivatives which are sophisticated instruments whose value is linked to the rise and fall of prices of other assets. Derivatives may be used for limited investment purposes to achieve the investment objective and for the purposes of efficient portfolio management, to simply reduce risk or manage the Fund more efficiently.
You can buy and sell shares on any business day in London.
Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within 3 years.
For full investment objectives and policy details please refer to the prospectus.
Price displayed in GBP pence.
Status of all data (unless otherwise stated): Thursday, 19 December 2024
