Fund Objective

The objective is to achieve long-term capital growth and income.

View on Past Performance

The twelve months to 31st May 2002 has been a very difficult period for equity investment with all of the major market indices recording declines, with falls ranging from 12.3% in the FTSE 100, to a sterling adjusted fall of 17.5% for the S&P 500. The techonology orientated indices were hit particulary hard with the FTSE Techmark and NASDAQ falling 42.6% and 34.8% respectively.

Future Expectations

For the longer term, we believe the macro economic backdrop continues to exhibit signs of recovery and against this we believe markets should find support although obviously volatility is likely to remain high.

Fund Details