The fund aims to provide a combination of capital growth and income to deliver a return that is higher than that of the global equities market over any five-year period.
Investment policy and strategy
Core investment: At least 80% of the fund is invested in shares issued by companies across any sector and of any size that are domiciled in any country, including emerging markets. The investment manager seeks to invest in companies that are out of favour with the market or whose future prospects are not fully recognised by the market at the time of investment.
Other investment: The fund may invest in other funds, cash and assets that can be turned quickly into cash.
Use of derivatives: Derivatives may also be used to manage risks, reduce costs and to manage the impact of changes in currency exchange rates on the fund’s investments.
Strategy in brief: The fund’s focus is on companies which, at the time of investment, the investment manager believes are either out of favour with the market, or whose future prospects are undervalued by the market, but have the potential to restore themselves to health. The investment manager’s investment approach focuses on cashflows and management’s strategy for recovery within a company.
Performance comparator: The fund is actively managed. The MSCI ACWI Index is a point of reference against which the performance of the fund may be measured.
Derivatives: Financial contracts whose value is derived from other assets.
Risks associated with the fund
The value and income from the fund's assets will go down as well as up. This will cause the value of your investment to fall as well as rise. There is no guarantee that the fund will achieve its objective and you may get back less than you originally invested.
The fund can be exposed to different currencies. Movements in currency exchange rates may adversely affect the value of your investment.
Investing in emerging markets involves a greater risk of loss due to greater political, tax, economic, foreign exchange, liquidity and regulatory risks, among other factors. There may be difficulties in buying, selling, safekeeping or valuing investments in such countries.
The fund may invest in China A shares. Investments in assets from the People's Republic of China are subject to changeable political, regulatory and economic conditions, which may cause difficulties when selling or collecting income from these investments. In addition, such investment is made via the 'Stock Connects' systems, which may be more susceptible to clearing, settlement and counterparty risk. These factors could cause the fund to incur a loss.
In exceptional circumstances where assets cannot be fairly valued, or have to be sold at a large discount to raise cash, we may temporarily suspend the fund in the best interest of all investors.
The fund could lose money if a counterparty with which it does business becomes unwilling or unable to repay money owed to the fund.
Further details of the risks that apply to the fund can be found in the fund's Prospectus.
The fund invests mainly in company shares and is therefore likely to experience larger price fluctuations than funds that invest in bonds and/or cash.