SVS Brooks Macdonald Defensive Capital Accumulation 

The Sub-Fund aims to provide capital growth over the long term (at least five years) and positive absolute returns over rolling three year periods. Returns are not guaranteed over any time period therefore capital is at risk. The Sub-Fund will be actively managed and will invest in a combination of assets directly or indirectly gaining exposure to a diversified portfolio of investments. The assets in which the Sub-Fund will invest include investment trusts, transferable securities including structured notes, convertible bonds and zero-dividend preference shares (although the Sub-Fund will not otherwise typically invest in shares of operating companies) and other collective investment schemes. The investment trusts in which the Sub-fund invests may be used to obtain exposure to alternative assets such as real assets, specialist lending and structured credit.