Investment objective summary

The Fund aims to provide long-term capital growth.

While the Fund aims to achieve a positive return this is not guaranteed over any period of time, and you may get back less than you invested.

The Fund invests primarily in equities (e.g. shares of companies) and related derivatives (financial contracts whose value is linked to the price of an underlying asset). At least 80% of the Fund’s equity investments will be priced in sterling.

The Fund seeks to achieve its objectives by holding investments which, in combination, are considered over the long term to offer a level of risk lower than that of the FTSE All-Share Index (an index representing a broad spread of companies listed on the London Stock Exchange). The Fund also has the flexibility to invest outside of the aforementioned asset classes.

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.

The index used in the performance section is deemed to be a good representation of the Fund’s investable universe and is widely used, independently calculated and readily available.