Fund Objective

To aim to provide capital growth.

View on Past Performance

September was a torrid time for markets, as the banking crisis continued to claim high profile victims such as Wall Street investment banks Lehman Brothers and Merrill Lynch, while around the world major banks were forced to seek support from more liquid peers or governments.In Europe, HBOS, Bradford & Bingley, Fortis, Hypo Real Estate, and a range of Icelandic banks were the worst affected. On the whole, larger companies outperformed their smaller brethren, but only in comparative terms; their share prices still fell significantly.

Future Expectations

Markets remain extremely nervous with concerns continuing to focus around the health of the banking sector. New issues seem to emerge almost daily and a rebuilding of confidence here is essential to stability returning to the market as a whole.

Fund Details