To provide relatively stable returns over the medium term with the potential for some long-term capital growth.

The Fund will seek to achieve its investment objective through investing in a diversified portfolio of collective investment schemes and other permitted investments that have a similarly diversified character such as investment companies and exchange traded funds (ETFs).

The portfolio will be comprised predominantly of cash and near cash, fixed interest securities and equity funds.

The ACD will use an asset allocation model to identify the mix of asset classes most appropriate to achieve the investment objective of this Fund, consistent with a low to medium risk profile. The ACD will select a range of investments that are suitable to achieve the asset mix recommended.

In order to provide diversification, the portfolio will typically be allocated across funds managed by a number of leading investment managers. While the ACD expects that the Fund's portfolio will be invested largely in other collective investment schemes, the Fund may also invest in other transferable securities, money market instruments, cash and near cash and deposits where appropriate to achieve its investment objective. The ACD may also utilise derivatives for the purposes of efficient portfolio management. Use may also be made of stock lending, borrowing and other investment techniques of efficient portfolio management. Investments in global shares and collective investment schemes will not be hedged back to the pound sterling (£).

The ACD must ensure that the Fund maintains sufficient cash for the purposes of maintaining liquidity. This portion of the Fund's assets must be represented by cash or similarly liquid assets (which may include money market instruments, deposits or units in collective investment schemes) at all times.

The Fund's portfolio and mix of asset classes will be rebalanced from time to time at the absolute discretion of the ACD, not less than once each calendar quarter.

Prospectus

Key Investor Information - Class F

Application Form

The latest net asset value per share is as follows:

Past performance is not necessarily an indication of future results