The following risk applies to all the above mentioned Funds:
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. bankruptcy), the owners of their equity rank last in terms of any financial payment from that company.
The following are fund specific risks:
(UK Alpha, UK Equity Income Fund)
Geographic / Sector: Investments may be primarily concentrated in specific countries, geographical regions and/or industry sectors. This may mean the value of the Fund may decrease whilst more broadly invested funds might grow.
(Global Quality Equity Income Fund, Global Franchise Fund)
Concentrated portfolio: The Fund invests in a relatively small number of individual holdings. This may mean the value of the Fund may fluctuate more widely than more broadly invested funds.
Currency exchange: Changes in the relative values of different currencies may adversely affect the value of investments and any related income.
(Global Quality Equity Income Fund)
Developing Market: Some countries may have less developed legal, political, economic and/or other systems. These markets carry a higher risk of financial loss than those in countries generally regarded as being more developed.