Fund Objective: The Fund aims to provide a return on your investment (generated through an increase in the value of the assets held by the Fund) with the opportunity for additional income generation (i.e. income received on the Fund’s assets) where market conditions allow. The Fund may invest globally in equity securities (e.g. shares), fixed income securities (such as bonds), money-market instruments (i.e. debt securities with short-term maturities), funds and cash (in any currency). The fixed income securities and money-market instruments may be issued by governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development). The Fund will invest in the full range of fixed income securities which may include investments with a relatively low credit rating or which are unrated. The investment adviser (IA) will use derivatives (i.e. investments the prices of which are based on one or more underlying assets) to help achieve the Fund’s investment objective. These may be used to gain indirect exposure to commodities (such as precious metals and agricultural produce) and to property. The Fund may, via derivatives, generate varying amounts of market leverage (i.e. where the Fund gains market exposure in excess of the value of its assets). The Fund is actively managed and the IA has discretion to select the Fund's investments. In doing so, the IA will refer to a composite benchmark (i.e. a benchmark made up of number of benchmarks) of 30% FTSE All Share, 45% FTSE World ex-UK, 25% Barclays Global Aggregate Index (the “Index”) when constructing the Fund’s portfolio, and also for risk management purposes to ensure that the active risk (i.e. degree of deviation from the index) taken by the Fund remains appropriate given the Fund’s investment objective and policy. The IA is not bound by the components or weighting of the Index when selecting investments. The IA may also use its discretion to invest in securities not included in the Index in order to take advantage of specific investment opportunities. However, the geographical emphasis of the investment objective and policy may have the effect of limiting the extent to which the portfolio holdings will deviate from the Index. The Investment Association OE Mixed Investment 40%-85% Shares Average Sector should be used by unitholders to compare the performance of the Fund. Recommendation: This Fund may not be appropriate for short-term investment.