Investment Objective
The objective of the Fund is to provide capital growth whilst being managed so as to remain, over a market cycle, within a defined volatility range.

Investment Policy
The Fund will primarily gain exposure indirectly via eligible collective investment schemes and other collective investment vehicles (for example, investment companies, exchange traded funds) to a range of eligible assets such as transferable securities (shares (including investment trusts), debentures, government and public securities, warrants or certificates representing certain securities), money market instruments, deposits, cash, property and commodities to provide diversification. The Fund may also invest directly in such eligible assets (excluding property and commodities). Derivatives will be used only for the purpose of Efficient Portfolio Management.

The Fund will seek to remain within a defined volatility range over a market cycle - it will aim to be positioned as a 5 on a risk scale of 1-10 (with 1 being the lowest risk and 10 being the highest risk). For this purpose, a market cycle is expected to be a minimum 5 year period. Risk profile ratings will be calculated by an independent third party.

Remaining within the volatility range will take precedence over the other objectives of the Fund, although the Investment Manager may in exceptional circumstances operate outside this range where it considers it is in the best interest of shareholders.

Typically, the Fund is likely to have greater exposure to underlying equities and commodities, and less exposure to underlying cash, fixed interest and property assets, than other funds in the range.

Share Classes:

The fund's valuation point is 12.00 every business day.

The latest net asset value per share is as follows:

Factsheet

Prospectus

Application Form

Past performance is not necessarily an indication of future results