Fund Objective

To aim to provide capital growth.

View on Past Performance

All stock markets were extremely weak during September, as a result of the ongoing global financial crisis. Economic news was poor virtually everywhere, which exacerbated the financial problems. Asian and Emerging markets were particularly weak following their strong rises in the previous two years. The dollar strengthened quite significantly against virtually all currencies with the exception of the yen.

Future Expectations

There have been significant moves by the authorities in the US and Europe to try and avert the looming financial crisis. Stock markets are oversold and a shorter-term rally is overdue. However, the earnings outlook is quite poor and stock markets will continue to be in for a bumpy ride.

Fund Details