MI Select Managers North American Equity Fund

Objectives and Investment Policy

The Fund aims to provide long term capital growth and income by investing primarily in the shares of North American listed companies and in investment funds that are targeted towards North America. Although the Fund intends to invest primarily in US companies it may also invest in Canada and Mexico.

The Fund may invest in other transferable securities, depositary receipts and other UCITS eligible schemes to achieve its objectives.

North American listed companies are defined as those that are domiciled, incorporated or have a significant part of their business in the USA.

The Fund has a multi-manager structure, which means that its assets are managed by a number of specialist investment managers, appointed and monitored by the Fund’s Asset Allocation Manager. Each of these investment managers has discretion to select investments for an assigned portion of the Fund’s assets.

The Fund may also make use of derivatives, which are sophisticated instruments whose value is linked to the rise and fall of other assets. The Fund can use derivatives for investment purposes to generate market exposure that exceeds the value of its assets and for the purposes of hedging and efficient portfolio management, with the aim of managing risk and cost.

You can buy and sell shares on any business day in London.

Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within 5 years.

For full investment objectives and policy details please refer to the Prospectus.