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The objective of the Fund is to seek to achieve long term capital growth through the active management of a diversified portfolio invested primarily in North American stock markets. It is not proposed to concentrate investments in any one industry or sector.
The securities in which the Fund may invest shall include ordinary shares or common stock, ADRs, GDRs, preference shares and warrants, the securities will principally be listed, traded or dealt in on a Regulated Market in the US and Canada. Up to one-third of the Fund may be invested in the securities of issuers who are not domiciled in the US or who predominantly carry out their businesses or generate their revenue outside of the US at any one time.
The Fund may invest its liquid assets or may invest up to one third of the Net Asset Value for temporary defensive purposes in short-term securities such as commercial paper, bankers’ acceptances, certificates of deposit.
The Fund may invest up to 5 per cent. of its Net Asset Value in open-ended collective investment schemes whose objective is to invest in any of the foregoing.
These collective investment schemes will be established as UCITS under the UCITS Directive in any EU member state.
The Old Mutual North American Equity Fund may invest up to 5 per cent. of its Net Asset Value in REITs listed, traded or dealt in on Regulated Markets that are not considered Emerging Markets.
The Fund may employ investment techniques and financial derivative instruments such as exchange traded futures solely for efficient portfolio management.
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The investment objective of the Fund is to maximise total return principally through investment in equities which are listed on Regulated Markets in the U.S. The Fund may also invest to a lesser extent in other transferable securities as disclosed in the investment policy for the Fund, money
market instruments, cash and cash equivalents.
The Fund will seek to achieve its objective primarily through investment in a concentrated but diversified portfolio of equity securities which are listed on Regulated Markets in the U.S. The Fund may also invest up to 15 per cent. of its Net Asset Value in equity securities issued by companies
deriving a substantial part of their income from, or having a substantial proportion of their assets located in, the U.S. and which are listed, traded or dealt on Regulated Markets worldwide. The equity securities in which the Fund will invest shall primarily consist of common stocks and other transferable securities such as convertible securities, preferred securities, convertible preferred securities, warrants and rights. The equity securities in which the Fund may invest will not be selected from any particular industry sector and may be of small, medium or large market capitalisation.
The Fund may invest in currency forwards to reduce currency risk but not to take active positions on currency.
The Fund may invest in financial derivative instruments for efficient portfolio management purposes.
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