The Fund is a “Short Term Variable NAV Money Market Fund” as defined by the EU Money Markets Funds Regulations. The Fund is actively managed. The Fund aims to provide a return in line with money market rates. This aim is consistent with maintaining capital and ensuring its underlying assets can easily be bought or sold in the market (in normal market conditions). Money invested in the Fund is not protected or guaranteed.

The Fund will do this by maintaining a portfolio of high credit quality (according to the Investment Manager’s assessment of credit worthiness) money market instruments (MMIs) (i.e. debt securities with short term maturities) and short term fixed income securities (such as bonds). It may also invest in cash and in deposits with credit institutions (e.g. banks) and in units of other short term money market funds.

The Investment Manager will, in addition to the investment objective set out above, and subject always to investing in such assets as required for the Fund to meet its investment objective, take into account environment, social and governance criteria when selecting investments, as a non-financial objective as set out in the Fund’s prospectus. For further details please refer to the prospectus.