Fund Objective

To combine a regular income with the potential for long term capital growth.

View on Past Performance

The holdings of Royal Bank of Scotland and Tomkins were sold.In a very weak market the Fund suffered from its multi cap approach. The mid and small cap indices lagged the FTSE 100 by nearly 10%. A profit warning by Raymarine was damaging.

Future Expectations

The world economy has slowed dramatically, meaning that earnings forecasts are too high. This will lead to dividend cuts in certain stocks. The world's central banks are responding, giving support to markets.

Fund Details