The investment objective of the Fund is to generate capital growth (after deduction of fees) in excess of inflation (Retail Price Index) over a rolling 5 year period).

The Fund seeks to meet its objectives by investing in a diversified portfolio, although at least 80% is expected to be invested in in equities and bonds (which may be investment grade or sub-investment grade). The portfolio will be actively managed and the allocation to each (and indeed other asset classes) will not be fixed, although the allocation to equities is expected to range from 20%-80% based on the investment manager’s views as to whether equity markets are over or undervalued. For example, at times, where the Investment Manager considers it prudent (based on market conditions, for example where the Investment Manager considers that equity markets are overvalued or exclusively volatile), a large proportion of the portfolio may take the form of bonds and/or cash (and less in equities) and vice versa.

The Fund may also invest in collective investment vehicles (which are expected to provide exposure to equities and bonds, and may include those managed and/or operated by the ACD or investment manager), money market instruments, deposits, cash and near cash.

The direct equity allocation (and any direct corporate bond investments) within the portfolio will be in equities/bonds listed on developed markets only (where it is expected liquidity is greater), specifically, equities must be listed on one of the following indices: FTSE 100, FTSE 250, S&P 500, Nasdaq, Nikkei 225 and STOXX Europe 600 ex UK. In the case of indirect exposure to equities and bonds, via funds, these underlying funds are expected to focus largely on investment in developed markets too and, for equities, those in the indices listed above (although there may also be exposure to other indices), although there may also be exposure to wider global markets. The Fund may only invest in Government Debt of the UK and US Governments.

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 use derivatives only for currency hedging purposes. It is not intended that the use of derivatives for efficient portfolio management purposes will increase the risk profile of the Fund.

Prospectus

Key Investor Information

Financial Statements

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.

TCFD Reports

The latest net asset value per share is as follows:

Past performance is not necessarily an indication of future results

Questions and Queries

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

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