The investment objective of the European Special Situations Fund is to achieve capital growth by active investment mainly in European companies with above average potential for growth. To concentrate the core of the portfolio on European equities with above average potential for capital growth. Advantage will be taken of opportunities offered by management change, recovery situations and market anomalies. The fund will invest mainly in transferable securities, but may also invest in collective investment schemes, Derivatives, cash, near cash and deposits. Derivatives may be used for investment as well as efficient portfolio management purposes. It is not intended that the use of Derivatives in this way will cause the Net Asset Value of the Fund to have high volatility or otherwise cause its existing risk profile to change.
Richard Wiseman (Started: Jun 30, 2009)
Scottish Widows Investment Partnership Ltd.
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15 Dalkeith Road, Edinburgh EH16 5WL