Fund Objective

To achieve capital growth.

View on Past Performance

The New Star Global Strategic Capital Unit Trust fell 17.2%* over the three months to 30 September 2008 while the IMA Active Managed sector was down 11.2%*. The financial landscape changed significantly during the period under review, which included the nationalisation of Freddie Mac and Fannie Mae in the US and Bradford & Bingley in the UK while other institutions were sold or became insolvent, such as Lehman Brothers.Fears increased about the credit crisis's impact on the economy and market volatility hit record levels. In September, the FTSE 100 Total Return Index suffered its worst monthly loss in 20 years and the S&P 500 Total Return Index suffered its worse monthly loss since 1998. Even respected hedge funds posted significant losses.The fund's performance would have been better were it not for a widening in discounts to net asset value among closed-end funds. The portfolio's weighted average NAV discount rose to 19%, more than double the level in September 2007.

Fund Details