Fund Objective

The Fund aims to achieve a long-term return, in excess of the long-term return that is typically achieved from a portfolio of UK Bond Funds, UK Equity Funds, Property and Cash.

View on Past Performance

Over the last three months, the Fund underperformed its sector average, ranking in the third quartile of its peer group. Over the longer-term, the Fund has outperformed its sector average, ranking in the second quartile, since launch. The prospects for growth and concerns about infl ation continue to preoccupy investors, fostering negative sentiment.

Future Expectations

Losses arising from the credit crisis are now being fl ushed through the fi nancial system, as banks repair their balance sheets. This has helped to improve the outlook for the credit quality of the fi nancials sector. In contrast, we remain concerned about corporate risk generally. As feared, we are beginning to see a rise in corporate defaults, albeit from historically low levels.

Fund Details