Fund Objective

To track the capital performance of the UK equity market as represented by the FTSE 100 Index. The investment adviser will closely replicate the index by holding principally the stocks represented therein.

View on Past Performance

March proved a lacklustre month for UK equities, as investor appetite for risk diminished on concerns over high oil prices. Over the month, the FTSE 100 index declined by 0.8% in total return terms. Resources sectors such as steel and mining were hit by profit-taking, while weaker consumer data dampened the performance of real estate and retail shares. Among individual stocks, ITV was the best performing stock in the FTSE 100 as the broadcaster reported strong earnings results early in the month.Better-than-expected results also boosted life assurer Friends Provident.

Fund Details