Fund Objective

The Worldwide fund aims to achieve long term capital growth.

View on Past Performance

During difficult stock-market conditions,the price of shares in the Cavendish Worlwide Fund fell by almost 3% in March.The Fund has outperformed within its IMA peer group in March and over the calendar year to date,even though the price of shares has fallen by about 8.5% during the first quarter of the year.

Future Expectations

Looking forward,we feel reassured as the UK stock market is trading near to its lows in term of earnings valuations.There appears to be signs that active investors are returning to the stock market.Sentiment would be helped by an increase in takeover activity and by further declines in interest rates.In our view,equity markets are undervalued in relation to other direct assets classes.We see little to choose between the major economic blocs in term of relative attractiveness,and we will continue to mantain a well-divesified portfolio of holdings going forward.

Fund Details