VT PortfolioMetrix Core Assertive Portfolio

The investment objective of the Fund is to generate capital growth over the long term (more than 9 years). The Fund will seek to achieve its objectives by investing at least 80% in collective investment funds (such as OEICS, exchange traded funds and Investment Trusts, and which may include funds managed and/or operated by the ACD or Investment Manager) which will provide exposure to a diversified portfolio but with greater exposure to higher risk assets such as equities and to a limited degree alternatives such as property, infrastructure and commodities, and less emphasis on lower risk assets such as cash and fixed income. Equity exposure will typically be between 80-100%. The Fund may also invest, directly in equities, bonds (investment grade and sub-investment grade), money market instruments, cash, near cash and deposits. The Fund may use derivatives for the purposes of efficient portfolio management. Foreign currency exposure through non-UK investments and particularly overseas bonds may be hedged back into £-Sterling. The Fund will not have any particular geographic, industry or economic sector focus and as such weightings in these may vary as required. The Fund is actively managed.