Waverton Absolute Return Fund P Stg£ 

The investment objective of the Fund is to achieve long-term capital growth through investment of up to 100 percent. of its assets in a diversified portfolio of equities, Structured Products, Debt Securities, deposits, cash, money market instruments and collective investment schemes, which may themselves invest in equities, Debt Securities and alternative asset classes such as hedge funds, real estate, private equity funds and commodities to the extent that these are permitted under the UCITS Regulations. Not more than 20 per cent. of the Net Asset Value of the Fund will be invested in securities of issuers established in Emerging Market Countries.