Category: Open Ended Investment Company
The Fund aims to provide long-term capital growth. The Fund invests primarily in the shares of UK smaller companies. UK smaller companies are companies considered to be small based on the size of their issued capital (the value of all shares held by their shareholders added together) and which are included in the Numis Smaller Companies plus AIM (excluding Investment Trusts) Index (the Fund’s primary investment universe). The Fund is therefore managed with reference to this benchmark index because the portfolio is primarily constructed from its constituents. The Fund also uses a subset of this index, the Numis Smaller Companies (excluding Investment Trusts) Index, for performance comparison purposes. The Fund does not seek to replicate either benchmark index. Primarily it will hold assets which are components of these indices but the Investment Manager has discretion to select which companies are held and their weightings within the Fund. As well as investing in the shares of UK smaller companies within the Fund’s primary investment universe, the Fund may invest in other assets such as shares of companies which are not in this benchmark index, cash, money market instruments (tradable securities where money can be invested for short periods), other funds (which may be managed by the Investment Manager, other companies in the same group as the Investment Manager or a third party) and derivatives (financial contracts whose value is linked to the price of an underlying asset). Derivatives may be used for investment purposes (i.e. in order to achieve the Fund’s investment objectives) or for efficient portfolio management purposes e.g. with the aim of either managing the Fund risks or reducing the costs of managing the Fund. The Fund is actively managed. This means the Investment Manager is free to select investments with the aim of achieving the Fund’s objectives. The Investment Association UK Smaller Companies average (as calculated by Morningstar using a peer group of broadly similar funds) is an additional measure by which you can compare the Fund’s performance. Any income due from your investment is reflected in the value of your shares rather than being paid out. You can buy or sell shares in the Fund on any Dealing Day in the UK, as defined in the definitions section of the Investec Funds Series Omnibus prospectus. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within the short to medium term.