WHAT IS YOUR STRATEGY FOR THE FUND?
The investment strategy is based on identifying individual companies in the UK and abroad, across all sectors, whose share prices have the potential to outperform the indices. The Fund combines growth, value and momentum strategies. There is no institutional constraints on my flexibility to adopt the most appropriate investment strategy. The Board of the management company regularly reviews the investment process.

IF I AM A FIRST TIME INVESTOR, SHOULD I INVEST IN THE STOCKMARKET?
Investing regularly in the stockmarket can be very rewarding if you are not in a hurry. Markets have always gone up over the long term. In fact, virtually all the published evidence points to equities outperforming cash and bonds over time - so there may be a risk in not having enough of your savings in equities over the long term.

IS NOW A GOOD TIME TO INVEST?
It is worth remembering a well-versed lesson for successful investing. It is time not timing that matters. As a result, there are normally handsome rewards waiting for the patient but committed investor.

Although there is no minimum duration you must hold your equity investment, it is best not to invest in an equity fund unless you can leave the money there for several years. ISAs therefore provide an ideal vehicle for long-term investment within a tax-efficient environment.

HOW IMPORTANT ARE CHARGES IN SELECTING AN INVESTMENT?
Charges are certainly important. But over the long term the fees should be measured in relation to the performance. An actively managed fund should not be selected only on the basis of the lowest fees as a relatively small saving could be more than offset by poor long-term performance.

ARE THERE ANY COMPENSATION ARRANGEMENTS?
If you make a valid claim against us and we are unable to meet our liabilities in full, you may be entitled to compensation from the Financial Services Compensation Scheme. The amount depends on the type of business and the circumstances of the claim. Most types of investment business are covered for 100% of the first £30,000 and 90% of the next £20,000, so the maximum compensation is £48,000. Details of the scheme are available on request from the Manager or the Financial Services Compensation Scheme.