The Active Managed Fund aims to achieve capital growth in excess of the Consumer Prices Index plus 4% per annum over 5-year Rolling Periods.The Fund invests in a range of collective investment schemes (“funds”) that are exposed to a range of asset classes on a global basis. The Investment Manager’s bias is towards actively managed funds although the Fund may also invest in passively managed funds (e.g. index tracking funds). The funds may include those managed or operated by the ACD and its associates.