Fund Objective

To match closely the performance of the FTSE 100 Index on a total return basis after allowing for charges.

View on Past Performance

During the period under review ( six months ended the 15th October), the offer price of units fell by 20.6%. This was identical to the fall in the FTSE 100 Index (noon to noon basis) during the same period after allowing for the estimated reinvestment of dividend income. The comparison also takes account of fund charges. Liquidity levels within the Trust were maintained as low as practicable to ensure that the index tracking objectives were followed as closely as possible.

Future Expectations

The economic outlook remained relatively benign in the UK with stable interest rates throughout the period and little real evidence of concerned inflationary pressure emerging.

Fund Details