Category: Open Ended Investment Company

Objective and investment policy Objective To achieve capital growth (an increase in the value of the fund) after all costs and charges have been taken, over any five year period. There is no guarantee that the objective will be met over any time period and you may get back less than you invest. Investment Policy To invest at least 80% in the shares of companies worldwide. The fund may also invest up to 20% in government bonds (which are loans that usually pay interest), money market instruments (which are short term loans that pay interest) and cash. The Investment Manager will invest in companies that, in their opinion, have the ability to grow and improve profitability and are not over valued. Other features of the fund:  The fund is actively managed. The Investment Manager uses its expertise to select investments for the fund and has the discretion to invest without the need to adhere to a particular benchmark.  The fund can invest in other funds (including those managed by the Manager and its associates).  The fund can invest across different geographic areas and industry sectors without limitation.  You can buy and sell shares in the fund every business day.  Income from the fund will be added to the value of your investment.  Derivatives (whose value is linked to that of another investment, e.g company shares, currencies) may be used to manage the risk profile of the fund.  This share class is denominated in EUR and investors should note that returns are not hedged back to the base currency of the fund and therefore returns on this share class may differ significantly to those experienced on the share classes denominated in GBP.  Recommendation: This fund may not be appropriate for investors who plan to withdraw their money within 5 years.