Global Diversified Growth

Investment objective summary

The Fund aims to provide long-term real returns (through a combination of income and capital growth) measured in US dollars. The Fund targets a return of US Consumer Price Index (CPI, a measure of inflation) +5% (gross of fees) per annum over rolling 5 year periods. While the Fund aims to achieve real returns and its performance target, there is no guarantee that either will be achieved over the long term, or over any period of time and there is a risk of loss. Real returns are returns that are superior to US inflation (currently measured by the annual change in the US Consumer Price Index).

The Fund invests around the world in a mix of assets including: the shares of companies; bonds (contracts to repay borrowed money which typically pay interest at fixed times); property; commodities; money market instruments (types of tradable securities where cash can be deposited for short periods); cash; and other eligible asset classes.

Investment may be directly in the assets themselves (excluding property and commodities) or indirectly through other funds (which may be managed by the Investment Manager, other companies in the same group as the Investment Manager or a third party) or derivatives (financial contracts whose value is linked to the price of an underlying asset).

The Fund may currently invest up to 10% of its value in mainland China. The Investment Manager may decide to increase this limit to 20% but will give investors prior written notice before doing so. Derivatives may be used for investment purposes (i.e. in order to achieve the Fund’s investment objectives) or for efficient portfolio management purposes e.g. with the aim of either managing the Fund risks or reducing the costs of managing the Fund.