The Currency Allocation Return Strategy (CARS) fund seeks to capitalise on the periodic divergence of exchange rates from fair value. The fund seeks to achieve a return of 10% per annum in excess of the reference index (over a full market cycle (3-5 years)), primarily through investment in derivative instruments linked to the global currency markets. It is expected that over a full investment cycle the ex-ante risk will average about 20% although this figure may vary widely depending on the scale of the investment opportunities available. It invests across both developed and emerging market currencies. The Fund is managed by an experienced team drawing on a heritage of over 30 years’ of successful currency investing. All investments are subject to market fluctuations. Every fund has specific risks, which can significantly increase under unusual market conditions. Please consult your client advisor for more information on the investment risks of this product.