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Veritas Global Equity Income

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Aviva Investors US Equity Income

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T Rowe Price US Smaller Companies Equity

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Schroder US Mid Cap

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Schroder US Smaller Companies

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Invesco Perpetual Asian

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Invesco Perpetual Pacific

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Janus Henderson Asian Dividend Income

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JPM Emerging Markets Income

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Lazard Emerging Markets

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Fidelity Asia

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Henderson European Focus

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Marlborough UK Micro Cap Growth

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Ardevora Global Long Only

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Fidelity Global Enhanced Income

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Old Mutual Global Equity

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JPM Europe Dynamic (ex-UK)

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F&C European Small Cap ex UK

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JO Hambro CM Continental European

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Legg Mason IF Japan Equity

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AXA Framlington Japan

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Schroder Tokyo

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Old Mutual North American Equity

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Cullen North American High Dividend

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Artemis Income

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Schroder Income Maximiser

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Fidelity Moneybuilder Dividend

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Old Mutual UK Equity Income

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JO Hambro UK Dynamic

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BlackRock Continental European Income

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Standard Life European Equity Income

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Schroder Tokyo

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Baillie Gifford Japanese

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Kames Strategic Bond

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FP Argonaut European Alpha

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TM Sanditon European

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Aberdeen Global Asia Pacific Equity

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Aberdeen Asia Pacific Equity

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Aberdeen Global Asian Smaller Companies

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Aberdeen Asia Pacific & Japan Equity

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First State Greater China Growth

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Aberdeen Global Indian Equity

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Stewart Investors Indian Subcontinent

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Stewart Investors Latin America

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TM Fulcrum Diversified Core Absolute Return

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Newton Real Return Institutional

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Absolute Insight Equity Market Neutral

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Insight Absolute Insight

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BNY Mellon Absolute Insight

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Artemis US Absolute Return

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Kames UK Equity Absolute Return

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BH Global Plc

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First State Global Resources

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JO Hambro UK Opportunities

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Aberdeen Emerging Markets Equity

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Aberdeen Global Emerging Markets Equity

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Aberdeen Global Emerging Markets Smaller Companies

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GAM Star Technology

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JO Hambro CM Japan

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Jupiter Financial Opportunities

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Polar Capital Global Insurance

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Templeton Frontier Markets

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Woodford Income Focus

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JO Hambro UK Opportunities

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Lindsell Train UK Equity - New rating

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Lindsell Train Global Equity - New rating

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Lindsell Train UK Equity - New rating

This fund aims to achieve capital and income growth and provide a total return in excess of that of the FTSE All-Share Index, by investing in a concentrated portfolio of UK equities. Some overseas stocks will also feature. Manager Nick Train invests in companies he describes as exceptional, defined as those that will be profitably in business in 20 years’ time. He finds the bulk of these companies in the food and alcohol, internet/media/software, financials and healthcare industries.

Train is an experienced manager and has managed the fund since launch in 2006, while his sector track record goes back even further.

The portfolio is highly concentrated (the fund’s top 10 account for 75% of the total assets) and companies tend to be bought and held for the long term, with investment time horizon being ultra long term. On account of the unique structure of the fund and structural sector skews, performance of the strategy relative to its reference benchmark, the FTSE All-Share Index, could vary markedly on occasion.

We have awarded the fund a four-star rating and it will feature on our top-rated funds list – our research team’s premier selection.

The value of investments, and the income derived from them, can go down as well as up and you can get back less than you originally invested. Past performance is not a guide to future performance.

Prevailing tax rates and relief are dependent on your individual circumstances and are subject to change.

This publication does not provide personal investment advice. If you are in doubt as to the suitability of an investment, we recommend you should seek professional financial advice.

Funds may carry different levels of risk depending on the industry sector(s) in which they invest. You should ensure that you understand the nature of any fund before you invest in it.