Fund Objective

The Fund aims to achieve long-term growth.

View on Past Performance

September proved to be another critical month for global stock markets, and the UK was no exception. Economic fundamentals remained weak, and fears increased that an imminent recession was set to cast a shadow over the broader economy. At the sector level basic resources was the worst performer with construction & materials also significantly down.Strategy remained focused on providing investors with access to our best investment ideas through a concentrated and aggressively managed portfolio of UK shares. The Fund is typically comprised of 25 equally weighted holdings and a constant re-appraisal of these holdings is encouraged by the strict re-balancing range.We sold shares in Centrica - a successful short term trade - and reinvested the proceeds into Lloyds TSB. Valuations within the banking sector have suffered dramatic falls in recent months and believe there is scope for significant cost synergies should the proposed acquisition of HBOS go through.

Fund Details