Capabilities - Disclaimer

Important information

Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals and are subject to change without notice.

General Investment risks for all capabilities

The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.

Investment risks Asia (Pacific) ex Japan

As a large portion of the strategy is invested in less developed countries, you should be prepared to accept significantly large fluctuations in value. The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Investment risks European equity – Eurozone

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Investment risks European ex UK equity

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Investment risks European Equity Income

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Investment risks European Quantitative Core

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Investment risks European Smaller Companies ex UK

This is a smaller companies strategy, investors should be prepared to accept a higher degree of risk than a strategy that invests in larger companies.

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Investment risks Corporate Bond

Debt instruments are exposed to credit risk which is the ability of the borrower to repay the interest and capital on the redemption date. Changes in interest rates will result in fluctuations in value. The strategy may invest in distressed securities which carry a significant risk of capital loss.

Investment risks Global Unconstrained Bond

The strategy will invest in derivatives (complex instruments) which will result in leverage and may result in large fluctuations in value.

Debt instruments are exposed to credit risk which is the ability of the borrower to repay the interest and capital on the redemption date.

The strategy may hold a large amount of debt instruments which are of lower credit quality which may result in large fluctuations in value. Changes in interest rates will result in fluctuations in value. The strategy may invest in contingent convertible bonds which may result in significant risk of capital loss based on certain trigger events. As the strategy can rapidly change its holdings across the fixed income and debt spectrum and cash, this can increase its risk profile.

Investment risks Multi-Sector Credit

As a large portion of the strategy is invested in less developed countries, you should be prepared to accept significantly large fluctuations in value. The strategy will invest in derivatives (complex instruments) which will result in leverage and may result in large fluctuations in value.

Debt instruments are exposed to credit risk which is the ability of the borrower to repay the interest and capital on the redemption date.

The strategy may hold a large amount of debt instruments which are of lower credit quality which may result in large fluctuations in value.

Changes in interest rates will result in fluctuations in value.

The strategy may invest in distressed securities which carry a significant risk of capital loss.

The strategy may hold a large amount of Asset Backed Securities (ABS) (complex instruments) as well as lower quality debt securities which may impact liquidity under certain circumstances.

Performance may be adversely affected by variations in the exchange rates between the base currency of a portfolio and the currencies in which the investments are made.

Investment risks Senior Secured Loans

The strategy is particularly dependent on the analytical abilities of its investment manager on senior loans. Many senior loans are illiquid, meaning that the investors may not be able to sell them quickly at a fair price and/or that the redemptions may be delayed due to illiquidity of the senior loans. The market for illiquid securities is more volatile than the market for liquid securities. The market for senior loans could be disrupted in the event of an economic downturn or a substantial increase or decrease in interest rates. Senior loans, like most other debt obligations, are subject to the risk of default. The market for senior loans remains less developed in Europe than in the U.S. Accordingly, and despite the development of this market in Europe, the European Senior Loans secondary market is usually not considered as liquid as in the U.S.

Investment risks Global Opportunities

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Although the strategy does not actively pursue a concentrated portfolio, a portfolio may have a concentrated number of holdings on occasions. Accordingly, a portfolio may carry a higher degree of risk than one which invests in a broader range of companies or takes smaller positions in a relatively large number of holdings.

Investment risks Global Diversified Equity

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Investment risks Global Equity Income

The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Investment risks Global Small Cap Equities

This is a smaller companies strategy, investors should be prepared to accept a higher degree of risk than a strategy that invests in larger companies.

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Investment risks IQS – Global Enhanced

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Investment risks Japan equity Core

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Although the strategy does not actively pursue a concentrated portfolio, a portfolio may have a concentrated number of holdings on occasions. Accordingly, a portfolio may carry a higher degree of risk than one which invests in a broader range of companies or takes smaller positions in a relatively large number of holdings.

Investment risks Multi Asset – Balanced risk

Whilst the overall risk of the strategy intends to be consistent with that of a balanced portfolio of equity and debt securities, this may not be achieved. The strategy will make significant use of financial derivatives for investment purposes in excess of the value of a portfolio that could lead to large fluctuations in value. The strategy will gain exposure to commodities to diversify risk. Commodities are generally considered to be high risk investments and may result in large fluctuations in value. Debt instruments are exposed to credit risk which is the ability of the borrower to repay the interest and capital on the redemption date.

Investment risks Multi Asset – Balanced solutions

The strategy will invest in derivatives (complex instruments) which will result in leverage and may result in large fluctuations in value. Debt instruments are exposed to credit risk which is the ability of the borrower to repay the interest and capital on the redemption date. Investments in debt instruments which are of lower credit quality may result in large fluctuations in value.

Investment risks Multi Asset – Global Target Returns

Changes in interest rates will result in fluctuations in value.

Investments in instruments providing exposure to commodities are generally considered to be high risk and these may result in large fluctuations in value. Changes in interest rates will result in fluctuations in value.

The strategy uses derivatives (complex instruments) for investment purposes, which may result in a portfolio being significantly leveraged and may result in large fluctuations in value. The strategy may hold debt instruments which are of lower credit quality which may result in large fluctuations in value.

Investment risks UK Equity Concentrated

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy. The strategy invests in a limited number of holdings and is less diversified, and therefore this may result in large fluctuations in value.

Investment risks UK Equity Growth

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

Investment risks UK Equity Income 

The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.

The strategy may invest in private and unlisted equities which may involve additional risks such as lack of liquidity and concentrated ownership. These investments may result in greater fluctuation in the value of a portfolio. The Manager, however, will ensure that any investments in private and unlisted equities do not materially alter the overall risk of a portfolio.

Investment risks European Smaller Companies ex UK

This is a smaller companies strategy, investors should be prepared to accept a higher degree of risk than a strategy that invests in larger companies. The strategy may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, reduce the costs of investing and/or generate additional capital or income, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of a portfolio. The Manager, however, will ensure that the use of derivatives does not materially alter the overall risk profile of the strategy.