Fund Objective

The Fund aims to achieve a total return.

View on Past Performance

With financial markets in disarray as the credit crisis continues, market reaction revolved around major government policy initiatives such as the US TARP and a vast array of liquidity improving measures. Economic data was almost uniformly bad, with sharp falls in European business sentiment and increases in unemployment on both sides of the Atlantic. A flight to quality drove government bond prices notably higher.The fund's overweight in bonds and underweight in equities proved beneficial. Last month there was a small increase in the exposure to high yield and investment grade corporate bonds at the expense of cash and government bonds, to take advantage of the widening in yield spreads.

Fund Details