INVESTMENT OBJECTIVE
This Fund aims to provide a total return, substantially by way of income though with some capital appreciation. There may be a moderate risk to capital.

INVESTMENT PROCESS
We try to maximise the potential investment returns for a portfolio that is compatible with the level of risk the investor is comfortable with. We do this in two ways:

  • Robust strategic asset allocation. We create efficient portfolios that combine different investment types with varying risk/return properties.
  • Sensible tactical asset allocation. Short term changes to reflect our current view of the markets and economic outlook.

The strategic asset allocation has been defined by the investment manager as the optimum combination of investments likely to maximise long term returns for a given level of risk consistent with a moderately cautious investor. Once this is determined, we make shorter term tactical allocations. The tactical tilt is made up of a series of investments the portfolio manager takes, designed to take advantage of near term market conditions and trends.

The strategic asset allocation is reviewed annually by the investment manager to ensure its validity. The positioning of the tactical tilt is reviewed quarterly and is subject to continual monitoring against the latest market information. The value of investments may fluctuate in price or value and you may get back less than the amount originally invested.