The investment objective of the Fund is to achieve long term (>5 year) capital growth.
The Fund will seek to achieve its objective by typically investing at least 70% in a portfolio of equities (which may be concentrated) which the Investment Manager believes will offer long-term growth for investors (being those which the Manager considers to be great operators in their chosen field, high generators of returns on capital, excellent allocators of capital). There may be short periods (e.g. in times of market stress) where the equity exposure of the Fund is reduced (and replaced by lower risk assets such as cash or government bonds) if considered to be in the interests of investors.
The Fund may also invest in collective investment schemes (including those managed and/or operated by the ACD or Investment Manager), fixed income, money market instruments, deposits, cash and near cash.
The Fund will be actively managed.
Save as noted above the Fund will not have any particular geographic, industry or economic sector focus and as such weightings in these may vary as required.
The Fund may hold derivatives for Efficient Portfolio Management purposes (including hedging). It is not intended that the use of derivatives for EPM purposes will increase the risk profile of the Fund.
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.
