SVS RM Defensive Capital A Acc

Investment objective

The Sub-fund aims to provide capital growth over the long term (at least five years) and positive absolute returns over rolling three year periods. Returns are not guaranteed over any time period therefore capital is at risk.

Investment policy

The Sub-fund will be actively managed and will invest in a combination of assets directly or indirectly gaining exposure to a diversified portfolio of investments.

In line with the Sub-fund’s strategy to invest in a defensive range of growth generating assets, the assets in which the Sub-fund will invest include investment trusts, transferable securities including structured notes, corporate bonds, convertible bonds and zero-dividend preference shares (although the Sub-fund will not otherwise typically invest in shares of operating companies) and other collective investment schemes. The investment trusts in which the Sub-fund invests may be used to obtain exposure to alternative assets such as real assets, specialist lending and structured credit.

The Sub-fund may use derivatives, including exchange traded and over the counter derivatives, forward transactions and currency hedges for efficient portfolio management and investment purposes.

To the extent that the Sub-fund is not fully invested in the assets listed above, it may also invest in cash or near cash from time to time, but this will not normally exceed 30% of the value of the property of the Sub-fund.

The collective investment schemes in which the Sub-fund invests may include schemes operated or managed by the ACD or the Investment Manager or an affiliate of the ACD or Investment Manager.

The Sub-fund will not invest more than 10% of its property in aggregate in the units or shares of other UCITS Schemes or other collective investment schemes.