Fund Objective

The Fund aims to maximise returns through investment primarily in fixed interest securities of an ethically screened and diversified list of companies.

View on Past Performance

The past few weeks have shown just how significant the credit crunch has become. During September we witnessed an unprecedented impact on financials globally and several large firms have been consigned to history. Banks have been anxious to raise capital in order to strengthen their balance sheets.The secondary market has all but dried up as investors exercise caution and even new issues have struggled to come to the market in recent weeks. Those that have tend to be generously priced to entice investors.We may seek to increase our exposure to financials as, despite the recent turmoil, banks still need to raise capital. This could provide us with a relatively cheap way of entering the market.

Future Expectations

It is evident that current market woes will not be short-lived and any solution will depend on the intervention of authorities in several nations. The UK government's injection of cash into some major financial institutions is certainly encouraging but the long term effects are yet to be seen.Our short-term outlook remains negative but we think that there are still opportunities and we are actively seeking investments within the ethical parameters of the Fund which are well placed to benefit from the current adverse conditions.

Fund Details