The fund aims to provide a combination of capital growth and income to deliver a return that is higher than that of the US stockmarket over any five-year period.
Investment policy and strategy
Core investment: At least 80% of the fund is invested in a value-style portfolio of shares in companies across any sector and of any size that are domiciled, or conducting the major part of their economic activity, in the US and Canada.
Other investment: The fund may also hold cash or assets that can be turned quickly into cash.
Strategy in brief: The fund employs a ‘value strategy’, that is, investing in cheap, out-of-favour companies whose share price, in the manager’s view, does not reflect the underlying value of the business. Stocks are selected on the basis of their individual merits, through a combination of value-focused screening and qualitative assessment.
Performance comparator: The fund is actively managed. The S&P 500 Index is a point of reference against which the performance of the fund may be measured.
Risks associated with the fund
The value and income from the fund's assets will go down as well as up. This will cause the value of your investment to fall as well as rise. There is no guarantee that the fund will achieve its objective and you may get back less than you originally invested.
The fund can be exposed to different currencies. Movements in currency exchange rates may adversely affect the value of your investment.
The hedging process seeks to minimise, but cannot eliminate, the effect of movements in exchange rates on the performance of the hedged share class. Hedging also limits the ability to gain from favourable movements in exchange rates.
In exceptional circumstances where assets cannot be fairly valued, or have to be sold at a large discount to raise cash, we may temporarily suspend the fund in the best interest of all investors.
The fund could lose money if a counterparty with which it does business becomes unwilling or unable to repay money owed to the fund.
Further details of the risks that apply to the fund can be found in the fund's Prospectus.
The fund invests mainly in company shares and is therefore likely to experience larger price fluctuations than funds that invest in bonds and/or cash.