Global equity markets offer a diverse range of opportunities to investors. Investing in more than one market can reduce risk and improve returns by holding, in a single portfolio, strong companies that are subject to different operating and economic conditions. The Global Equity Fund is able to choose its investments from companies that are expected to benefit from Asia's robust economic growth or expansion opportunities in other emerging markets, and blend them with giant companies inAmerica's sophisticated market or firms that stand to gain from the development of the European Union. Diversification has proved a sensible investment strategy as global stock markets have produced mixed performances. The Fund takes a broadly sector-neutral approach. The Fund Manager uses a proprietary stock-picking approach that aims to ensure the Fund includes attractively valued companies with strong performance records and an improving earnings outlook that are receivinggrowing investor attention. The majority of its investments are in developed markets, such as America and Europe, with a smaller exposure to emerging markets.