Fund Objective

The objective of the fund is to provide a high level of income with the opportunity for some long-term capital growth.

View on Past Performance

Short term rates remain on hold. Medium and long term yields lower in all major countries. Investment grade and high yield bonds underperform government bonds as spreads widen. Some reasonable company results from Fund holdings however economic data from Europe a little disappointing.

Future Expectations

Sterling very weak following gloomy economic forecasts falling 8.2% against the US dollar and 2.4% versus the Euro.

Fund Details