Conservative

- To target a positive capital return of cash plus 3.5%(not guaranteed) over the medium term with a focus on capital preservation, across the market cycle. The investment style is focused on generating low volatility of returns relative to the stockmarket. This will be achieved by utilising principally absolute return funds, alternative assets, fixed income and multi asset investment strategies with a minimum exposure to equites, via a portfolio of unit trusts, OEICs and investment trusts. The benchmarks are the FTSE Private Investor Conservative Index and the FTSE All-Share Index.