Fund Objective

To provide capital growth.

View on Past Performance

Although the likelihood of this occurring is extremely low, it cannot be ruled out. To provide extra protection for investors, as soon as the selling price of shares rises by 10% from the selling price prevailing when the fl oor price was last reset, the fl oor price is raised and set at 95% of the increased selling price. The investment managers constantly monitor the adequacy of the Fund's protective measure.

Future Expectations

The health of the fi nancial system, the prospects for growth and concerns about infl ation continue to preoccupy investors, fostering negative sentiment. Although the oil price has subsided from its peak levels, the ripple effects continue to be felt. Global growth will be lower in 2009 ensuring monetary policy will be accommodative.We believe strong companies will likely get stronger. Almost everywhere, equity and corporate bond valuations are reaching attractive levels for investors with longer term time horizons.

Fund Details