Fund Objective

To give long-term capital growth.

View on Past Performance

The threat of a global economic slowdown has been prevalent in equity markets over the last six months. High levels of volatility have been witnessed in recent months, with particular focus on financials. The US government has recently announced a rescue package for the banking 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. The MSCI World index declined by 12% during the six months under review, in local currency terms. In such an environment, the fund continues to focus on stable businesses with limited external funding requirements, above average returns on equity and low debt levels.

Fund Details