The investment objective of the Fund is to seek longterm growth of capital and income. The Fund will invest in a diversified portfolio of mostly shares and equity interests listed or traded in the UK. The Fund can invest in these shares directly or can gain exposure through investing in other funds (Underlying Funds) which are consistent with the Funds investment objectives and restrictions. The Fund can invest up to 1% in real estate investment trusts (which are investment vehicles that invest primarily in real estate or real estaterelated loans). The Fund may use financial derivative instruments (instruments for which the price is dependent on one or more underlying asset, FDI) extensively. This can be to achieve the investment objective, to hedge a given investment or to hedge against anticipated movements in a market or other sector or to manage the portfolio more efficiently. FDI may enable the Fund to obtain market exposure in excess of the value of the Funds assets.