Fund Objective

The objective of the Fund is to provide capital over the long term.The intention is that the Fund will fall within the IMA Balanced Managed Fund Sector with a maximum equities exposure of 85%.

View on Past Performance

During the first weeks of the quarter equity markets rose as oil prices dropped and corporate earnings announcements were strong for the fourth quarter.At the end of February, a massive drop in the Chinese market and troubling comments from the former Federal Reserve (Fed) Chairman, Alan Greenspan, triggered a huge sell off in all the equity markets.The confidence of equity markets was also tested by fears over the US sub-prime mortgage market which led to a sharp reduction in risk appetite.

Future Expectations

In the UK, as well as our preference for Telecoms and Financials, we are finding a healthy supply of companies with attractive prospects on sensible valuations and will not be panicked into short-term speculation.Overall, we believe that financial markets are set to prove more volatile and individual asset classes less correlated than in recent years. This will require a more active and selective approach to assetallocation.

Fund Details