WAY Global Momentum Fund Institutional D 

The objective of the Fund is to achieve long-term capital growth. The Fund aims to achieve its objective by using a systematic and low-cost approach to gain exposure to a range of developed global equity markets via investing in and regular rebalancing of exchange traded funds (or similar instruments). The strategy relies on remaining exposed to each market whilst certain trend-following signals are positive (whilst there is positive market momentum) but withdrawing to defensive assets during periods when those signals turn negative. This strategy means that the Fund will invest a minimum of 70% of its net asset value in exchange traded funds (or similar instruments) which themselves invest a minimum of 80% in equities during periods when all of the trend following signals are positive. However it also means that the Fund can invest up to 100% of its net asset value in cash and bonds during periods when all of the trend following signals are negative.