Asset Allocation: The Managers will focus on stock
selection, primarily investing in larger companies with strong
balance sheets and above average growth prospects. Less emphasis
will be given to adding value through country allocation, although
the portfolio will maintain a broad geographical diversification.
Up to 5% of gross assets may be invested in companies, which,
although not listed in Continental Europe, derive the greater part
of their earnings from its markets.
Risk Diversification: Portfolio risk is mitigated by
investing in a diversified spread of investments, with holdings in
any one company representing, on investment, no more than 10% by
market value of the total assets of the Company. However, this
limitation does not apply to gilts or investment company holdings.
The Company will not invest more than 15% of its gross assets in
other listed investment companies (including investment trusts).
All of the Company's investments are listed on recognised exchanges
and are realisable within a short period.
Gearing: The Company has the power to borrow money
(''gearing'') and does so when the Manager is confident that market
conditions and opportunities exist to enhance investment returns.
The Manager has discretion to borrow within limits set by the Board
from time to time.
Benchmark Index
Performance is measured, in capital terms, against the FTSE World
Europe (ex UK) Index in sterling terms. The Company sources index
and price data from Thomson Reuters Datastream
(Datastream). |