The Global Allocation Fund seeks to maximise total return.
The Fund invests globally in equity, debt and short term
securities, of both corporate and governmental issuers,
with no prescribed limits. In normal market conditions
the Fund will invest at least 70% of its total assets in the
securities of corporate and governmental issuers. The Fund
generally will seek to invest in securities that are, in the
opinion of the Investment Adviser, undervalued. The Fund
may also invest in the equity securities of small and emerging
growth companies. The Fund may also invest a portion of
its debt portfolio in high yield fixed income transferable
securities. Currency exposure is flexibly managed.