We seek an optimal blend of Growth, Defensive and Uncorrelated assets to reflect market conditions.
Assets that respond positively whn the economy is doing well
Assets that perform well when the economy is doing badly
Attractive downside capture vs. key competitors
Calendar year returns* for the Fund (and peer group**); 2018: 0.5% (-4.9); 2017: 6.0%(8.7%); 2016: 4.3% (6.7%); 2015: 0.9% (-2.4%); 2014: 3.7% (4.2%).
Source: Morningstar. 31.03.19. Performance is net of fees (NAV based,including ongoing charges, excluding initial charges), gross income reinvested, in USD. *Source: Morningstar, 4 years ending December 2017. **Peer group average based on the five largest offshore Multi-Asset income funds by AUM based on our Multi-Asset team’s analysis of the competitor landscape.
The value of investments, and any income generated from them, can fall as well as rise. Where charges are taken from capital, this may constrain future growth.
Past performance is not a reliable indicator of future results. If any currency differs from the investor's home currency, returns may increase or decrease as a result of currency fluctuations.
Performance targets may not necessarily be achieved, losses may be made. The amount of income may rise or fall.
Currency exchange: Changes in the relative values of different currencies may adversely affect the value of investments and any related income. Default: There is a risk that the issuers of fixed income investments (e.g. bonds) may not be able to meet interest payments nor repay the money they have borrowed. The worse the credit quality of the issuer, the greater the risk of default and therefore investment loss. Derivatives: The use of derivatives may increase overall risk by magnifying the effect of both gains and losses leading to large changes in value and potentially large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss. Emerging market (inc. China): These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems. Equity investment: The value of equities (e.g. shares) and equity-related investments may vary according to company profits and future prospects as well as more general market factors. In the event of a company default (e.g. insolvency), the owners of their equity rank last in terms of any financial payment from that company. Interest rate: The value of fixed income investments (e.g. bonds) tends to decrease when interest rates rise. Government securities exposure: The Fund may invest more than 35% of its assets in securities issued or guaranteed by a permitted sovereign entity, as defined in the definitions section of the Fund’s prospectus.
All information is as at 31.03.19 unless otherwise stated.
*These internal parameters are subject to change not necessarily with prior notification to shareholders.