The Fund's aim is to produce returns in excess of those available from cash deposits, but at a risk lower than that of investing in equities. However, there is a risk of capital loss involved in this Fund that would not be associated with a cash deposit. The Fund invests mainly in structured products which may provide either capital protection or some degree of downside protection. These products may be either listed on recognised stock markets or be bespoke agreements with a number of investment banks.The Fund manager aims to further reduce risk by investing in other asset classes with a low correlation to equities, and in equity markets other than the UK. The Fund retains some exposure to zero-dividend preference shares, but as this market continues to decline, the exposure to this asset class is expected to reduce further.