The fund aims to provide a combination of capital growth and income to deliver a return that is higher than that of the US stockmarket over any five-year period.
Investment policy and strategy
Core investment: At least 80% of the fund is invested in a value-style portfolio of shares in companies across any sector and of any size that are domiciled, or conducting the major part of their economic activity, in the US and Canada.
Other investment: The fund may also hold cash or assets that can be turned quickly into cash.
Strategy in brief: The fund employs a ‘value strategy’, that is, investing in cheap, out-of-favour companies whose share price, in the manager’s view, does not reflect the underlying value of the business.
Stocks are selected on the basis of their individual merits, through a combination of value-focused screening and qualitative assessment.
Performance comparator: The fund is actively managed. The S&P 500 Index is a point of reference against which the performance of the fund may be measured.
Risks associated with the fund
The value of investments and the income from them will rise and fall. This will cause the fund price, as well as any income paid by the fund, to fall as well as rise. There is no guarantee the fund will achieve its objective, and you may not get back the amount you originally invested.
Changes in currency exchange rates will affect the value of your investment.
Where market conditions make it hard to sell the fund’s investments at a fair price to meet customers’ sale requests, we may temporarily suspend dealing in the fund’s shares.
Some transactions the fund makes, such as placing cash on deposit, require the use of other financial institutions (for example, banks). If one of these institutions defaults on their obligations or becomes insolvent, the fund may incur a loss.
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.