To maximise the risk-adjusted returns over the longer term from a diversified portfolio
of investments with a 100% allocation to defensive assets (fixed interest and cash).
The portfolio will be actively managed on a discretionary basis, against a strategic
asset allocation with a tactical bias. The portfolio invests only in daily priced collective investment schemes. The portfolio invests in actively managed funds where we believe it is worth paying more for a fund that has the potential for generating additional returns, but if we can’t see value in an active fund for a particular sector the portfolio will invest in passive funds.