Fund Objective

The primary investment objective is to maximise the total return from capital and net income combined.

View on Past Performance

European indices experienced significant volatility as some of the world's most established financial institutions collapsed. The fund underperformed the Lipper median in September. Selling down industrials helped reduce underperformance but in hindsight was not aggressive enough.

Future Expectations

We continue to seek stocks with strong balance sheets and high cash flow generation.

Fund Details