The investment objective of the Company is to achieve positive returns by utilising a diversified portfolio of transferable securities, fixed interest securities, money market instruments, deposits, currencies, regulated and possibly unregulated collective investment schemes to the extent allowed by the FCA Rules and selected from a global market place.

The Company will have a flexible but overall cautious investment strategy in terms of investment type and geographical or economic sectors, meaning that the Investment Adviser has discretion to arrange the portfolio of the Company towards investment types and/or sectors considered likely to achieve the cautious objective, including cash deposits, at any time subject to the restrictions of the IA Mixed Investment 20% - 60% Shares (previously the Investment Management Association Cautious Managed) definition. The Company will be professionally managed and could be fully invested, or if the Investment Adviser believes market conditions require it, it could be held in cash on deposit (to the extent that this would not affect its ability to be held within the stocks and shares component of an ISA or conflict with the IA Mixed Investment 20% - 60% Shares definition).

The Company may use cash and other asset classes including collective investments with a stated objective of pursuing absolute returns without correlation to either equities or fixed interests markets, derivatives and forward transactions for EPM purposes in order to reduce perceived risks.

The Company does not intend to have an interest in immovable or tangible movable property.

Prospectus

Key Features and Terms & Conditions

Application Form

The latest net asset value per share is as follows:

Past performance is not necessarily an indication of future results