Fund Objective

To achieve capital growth.

View on Past Performance

During the three months to end September 2008, the New Star UK Strategic Capital Unit Trust fell 16.3%* while the IMA UK All Companies sector lost 13.8%*. UK equities were weak and volatile as the credit crisis worsened, causing exceptional damage to the global banking industry.In the UK, Bradford & Bingley and HBOS lost their independence although the ramifications for bond and equity holders depended on which bank was owned. The mining sector also remained under pressure amid fears of a serious slowdown in the developing economies and an unwinding of leveraged commodity trading.Volatility was particularly severe. In September, the FTSE 100 Total Return Index fell 12.9%*, its worst monthly performance since 1987, while the 5.3%* decline on 29 September was the eighth biggest single-day fall on record. Against this background, the fund sustained losses as a result of falling net asset values and widening discounts among closed-end funds.

Fund Details