Fund Objective

This Fund aims to provide a regular and competitive level of income from an underlying portfolio of gilts and other highly rated fixed interest securities by investing predominantly in British Government stocks and other fixed interest stock whether issued in Great Britain or any other country in the world.

View on Past Performance

In a period of great financial market turmoil, gilt market performance was mixed in September. Short-maturity gilts rallied sharply, while 10-year gilts were little changed and long gilts fell modestly. A similar pattern was seen in other markets, although European government bonds outperformed slightly.The portfolio began the month with neutral duration position. This was left unchanged as news unfolded and market conditions proved to be highly volatile. The fund also benefited from the perceived deterioration of Lloyds TSB's creditworthiness after the HBOS merger.

Fund Details