The value of investments can fall as well as rise and investors might not get back the sum originally invested.
Investment in Funds
The Investment Policy allows the fund to invest directly and indirectly in units of other collective investment schemes; principally ETF’s. Investors should consider the investment policy and asset composition of the underlying funds when assessing their portfolio exposure.
Where investments are made in assets that are denominated in multiple currencies, changes in exchange rates may affect the value of the investments.
No capital guarantee
Positive returns are not guaranteed, and no form of capital protection applies.
The fund invests in assets whose value would be significantly affected if the counterparty either refused to pay or was unable to pay or perceived to be unable to pay.
Interest rate risk
Changes in interest rates are likely to affect the fund’s value. In general, as interest rates rise, the price of a fixed rate bond will fall, and vice versa.
Investment in derivatives
The Investment Policy of the fund allows it to invest materially in derivatives.
The fund may exhibit significant price volatility.
Inflation is likely to reduce the real value of capital and income over time.