The investment objective of the Fund is to provide a positive capital return over a 12 month period, regardless of market conditions, with a lower level of volatility returns than the UK equity markets on average. Capital is at risk and there is no guarantee that a positive return will be achieved over a 12 month, or any, period. The Sub-fund will aim to achieve its objective by principally investing in a portfolio of UK equities. The Sub-fund may also invest in transferable securities, money market instruments, deposits, cash and near cash.