The objective of the Fund is to provide growth above that of the Numis Smaller Companies ex-Investment Companies Index TR, the "Benchmark Index". The Fund aims to outperform the Benchmark Index by 3% per annum. This objective is before the deduction of any charges and measured over rolling 3 year periods. The Fund is actively managed and invests at least 70% in the shares of UK companies that are in the lowest 10% by capitalisation of UK stock markets.