To produce high income, increasing at least in line with inflation, from a managed portfolio chiefly invested in UK equities and fixed interest stocks, although with some overseas exposure.
We are in the midst of an extraordinary set of fi nancial and economic circumstances. The UK economy is likely to experience an unusually sharp slowdown in the fi nal quarter of the year and into 2009.Many consumers and corporations are under increasing strain as the mortgage market has collapsed. Many companies have restricted their spending plans to maintenance levels. UK exports are softening despite a weaker pound as economies across continental Europe weaken. Outside the UK, the cost of shipping goods around the world has fallen sharply as have the prices of oil and iron ore.Central banks in the US, UK and Europe, meanwhile, have taken extraordinary measures to strengthen banks' balance sheets alongside other actions to help restore confi dence in wholesale money markets. These measures should work but will be subject to time lags.
519.98p
