The investment objective of the Trojan Ethical Income Fund is to seek to provide income with the potential for capital growth in the medium term. The Sub-fund’s policy is to invest substantially in UK and overseas equities. It may also invest in fixed interest securities, indices, deposits, collective investment schemes and moneymarket instruments. The Sub-fund will invest in accordance with the parameters of the Sub-fund’s ethical investment criteria, which consider ethical issues in relation to: fossil fuels, pornography, tobacco, alcohol, gambling, high interest rate lending and certain types of armaments. A document setting out the Sub-fund’s ethical investment criteria is available on the ACD’s website.