Fund Objective

To give long-term capital growth.

View on Past Performance

US equity markets have followed an erratic path over the last six months. In September, the S&P 500 index suffered its steepest one-day fall since Black Monday - more than twenty years ago. The index fell 10.87% over the review period, in local currency terms. The US government has recently announced a rescue package for the financial sector: Treasury Secretary Hank Paulson's $700 billion plan to buy up bad debt and stabilise financial markets.The Bill was originally rejected by the House of Representatives, but a revised version was approved in early October. A series of takeovers and bankruptcies led to the demise of Wall Street's four remaining investment banks during September. Meanwhile, insurer AIG was nationalised and given an $80 billion loan to keep it in business. SWIP aims to continue to invest in businesses that have long term predictable earnings streams.

Fund Details