The aim of the Fund is to provide a combination of capital growth and income over the longer term (5 years).

The Fund will invest at least 70% in equity securities of companies which are listed in the UK (and which are incorporated, domiciled or have significant operations in the UK).

The Fund may also invest in other types of transferable securities (such as bonds and ETFs) and in companies which are not UK listed. At any one time, the Fund may invest in a relatively small number of securities.

Use of derivatives will be limited, however, the Fund may invest in derivatives both for investment purposes and for efficient portfolio management. Derivatives may be used to create synthetic short positions in securities.

The Fund may also invest in money market instruments, collective investment schemes (including those managed and/or operated by the ACD or Investment Manager), deposits, cash and near cash. Investment in collective investment schemes will also provide the Fund with indirect exposure to other asset classes such as commodities.

Save as noted above in respect of a focus on UK listed equities, the Fund will not have any particular geographic or industry or economic sector focus and as such weightings in these may vary as required.

The Fund may invest in derivatives both for investment purposes and for efficient portfolio management. Use of derivatives will be limited.

Prospectus

Assessment of value statements are published annually for this fund - These reports are useful to give an overview of how the Fund has performed in comparison to industry comparators.

Questions and Queries

For frequently asked questions or further information about your holdings or this fund please:

Email the Fund Team epic@valu-trac.com or call us on: 01343 880 344 and quote the fund name.