The Fund invests around the world in a mix of different assets including bonds (contracts to repay borrowed money which typically pay interest at fixed times); money market instruments (tradable securities where money can be invested for short periods); the shares of companies; convertible securities (bonds which can typically be turned into company shares); and other funds (which may be managed by the Investment Manager, other companies in the same group as the Investment Manager or a third party).

Normally no more than 75% of the Fund is exposed, directly or indirectly, to the shares of companies.

The Fund may invest in other assets such as cash, other funds (which may be managed by the Investment Manager, other companies in the same group as the Investment Manager or a third party) and derivatives (financial contracts whose value is linked to the price of an underlying asset). Derivatives may be used for investment purposes (i.e. in order to achieve the Fund's investment objectives) or for efficient portfolio management purposes e.g. with the aim of either managing the Fund risks or reducing the costs of managing the Fund.

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