Fund Objective

To provide a portfolio designed to achieve high and rising income.

View on Past Performance

The third quarter was another challenging one for global equity markets. Governments sought to ease the effects of the credit crisis with emergency bank bail-outs and liquidity injections and a ban on the shortselling of financials stocks was initiated.Despite the negative sentiment surrounding the US financial system, US banks was one of the better performing sectors. Emerging markets were the worst affected region, despite efforts by Russia to support its sinking stock market. On a sector basis, energy and materials were the worse hit sectors while more defensive sectors such as healthcare and consumer staples fared better.

Future Expectations

Equity market valuations now look attractive; however, uncertainty over the outlook for earnings and dividends may contribute to further volatility.

Fund Details