Fund Objective

The fund's objective is to achieve a high and growing income over the long term combined with prospects for capital growth.

View on Past Performance

Global equity markets rallied in September after the volatility seen in August. The fund's overweight position in Asia proved particularly helpful, with markets in Hong Kong and China setting record highs.There is growing evidence that Asian economies are proving resilient to a moderate slowdown in the US economy, with the strength of consumption and investment boosting growth in the economic powerhouses of China and India.We reduced the fund's exposure to Japanese equities, which lagged the rally in global markets. Japan has been hampered by its perceived gearing into the global economic cycle and concerns that its exposure to the US subprime debt market could be greater than reported. Elsewhere, the fund remains overweight in the UK and Europe and underweight in the US.

Fund Details