INVESTMENT OBJECTIVE

This Fund aims to provide a balance of income and capital appreciation. There may be some risk to capital.

INVESTMENT PROCESS

The fund is made up of three portfolios: a fixed interest portfolio, an equity portfolio and a tactical overlay. Inclusion of any stock or bond in the fixed interest and equity portfolios depends on both a quantitative and qualitative assessment of its sustainability criteria.

The fund considers environmental, social and governance factors alongside other value drivers in determining a company’s investment case. Companies which have compelling long-term strategies and take seriously their responsibility to their customers, staff, local communities, the environment and their shareholders will tend to outperform operationally those that do not over the long term and create more durable economic value.

Long-term investing is about the responsible stewardship of assets. This involves a careful consideration of the long-term risks and opportunities and a commitment to active ownership. Stewardship is deeply embedded and fully integrated into the investment process. The fund goes beyond an exclusions approach to consider carefully a number of policies on key environmental issues; such as climate change, life on land and sustainable ecosystems; key social issues such as protecting the vulnerable in society and promoting diversity; and key governance issues, such as board structure and ownership rights.

Because certain products and manufacturing processes are so high risk that they are not rated as being compatible with sustainable development. Companies from certain industries or with significant exposure to certain activities are precluded at the outset: tobacco industry, armaments, pornography, nuclear power generation, chlorine, agrochemicals and genetically modified organisms in agriculture.

Suitable investments also include index products and other alternative assets. The value of investments may fluctuate in price or value and you may get back less than the amount originally invested.