Fund Objective

To aim to provide an above average and increasing income and long term prospects for capital growth.

View on Past Performance

September saw extreme volatility within the market as confidence in the financial system waned, the threat of deposit withdrawal grew and the wholesale money markets froze. The FTSE All Share recorded its worst month of performance since the October 1987 crash. Over the month, we saw an unprecedented number of financial takeovers and government interventions, including the announcement of a takeover of HBOS by Lloyds TSB and the nationalisation of Bradford & Bingley.

Future Expectations

In equities we continue to focus on companies where we believe they have the capacity to grow their dividend in a difficult economic environment. In fixed income, given increased government intervention in global financial markets, we feel the market is close to bottoming out and that today's yields overcompensate investors for the risk in the fund.

Fund Details