Fund Objective

The Fund aims to provide long term capital growth by matching the return of the FTSE All-Share Index. The Fund will invest in companies that make up the FTSE All-Share Index.

View on Past Performance

UK equities fell over 13% on concerns about the banking industry and the economic outlook. Despite the significant issues in the banking industry, the market was led lower by basic materials, oil & gas and industrials. Financials were down 11%. Utilities was the strongest sector, falling by only 1%.Our aim is to be as close to full replication as is practically possible subject to liquidity constraints. The Fund replicates changes to the index bearing in mind the trade-off between tracking error and trading costs.

Future Expectations

The corporate environment is challenging especially in the consumer and banking sectors. While the valuation of the UK equity market is below the long term average, the outlook for earnings remains uncertain. Markets are likely to remain volatile while the level of economic uncertainty is high.

Fund Details