The fund aims to outperform (after deduction of costs) the FTSE AllShare Index by at least 1% per annum over rolling five-year periods. The fund will invest at least 80% directly or indirectly in shares of UK companies, being those which are incorporated, domiciled or conducting a significant portion of their business in the UK. The fund will be actively managed and may invest in UK companies of any size and in any sector. The indirect investment will be through collective investment schemes