Rathbone Global Opportunities Fund - Rathbone Unit Trust ...

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Rathbone Unit Trust Management Limited Notes to the financial statements – continued 10 Financial instruments – continued (ii) Interest rate risk – continued The floating rate financial assets comprise bank balances that earn interest at rates linked to the UK base rate or its international equivalent. There are no material amounts of non-interest bearing financial assets and liabilities other than equities, which do not have maturity dates. (iii) Market price risk, being the risk that the value of investment holdings will fluctuate as a result of changes in market prices caused by factors other than currency or interest rate movements. The investment portfolio is exposed to market price fluctuations which are monitored by the Manager in pursuance of the investment objective and policy set out in the Scheme Particulars. Adherence to investment guidelines and to investment and borrowing powers set out in the Trust Deed and the Scheme Particulars and the rules of the Financial Services Authority’s Collective Investment Schemes Sourcebook mitigates the risk of excessive exposure to any particular type of security or issuer. (iv) Counterparty risk, being the risk that the counterparty will not deliver the investments for a sale after the Fund has fulfilled its responsibilities. 11 ISA and PEP eligibility The Fund has been managed throughout the period to ensure that it is eligible to qualify and be included in an Individual Savings Account (ISA) and a Personal Equity Plan (PEP).The Fund will at all times be invested in such a way that the units will constitute “Qualifying Investments” for the purposes of the Individual Savings Account (ISA) Regulations 1998 and the Personal Equity Plan (PEP) Regulations 1989, as amended from time to time. Directors’ statement This report is signed in accordance with the requirements of the Financial Services Authority’s Collective Investment Schemes Sourcebook. PG Pearson Lund RE Loader for Rathbone Unit Trust Management Limited Manager of Rathbone Global Companies Fund 23 September 2003 16
General information Authorised status Rathbone Global Companies Fund is an authorised unit trust scheme, established by a Trust Deed dated 20 March 2001 and launched in April 2001. It is a ‘securities fund’ authorised under Section 243 of the Financial Services and Markets Act 2000, and the currency of the Fund is pounds sterling. Investment objective and policy The objective of the Fund is to provide above average long term capital growth from a global equity portfolio.The portfolio will be invested predominantly in larger companies but mid-capitalisation and smaller stocks will also be included.The income yield will at best be minimal.The Fund will be managed so as to qualify for inclusion in an Individual Savings Accounts (ISA) and a Personal Equity Plan (PEP). Valuation of the Fund The Fund is valued on each business day at 12 noon for the purpose of determining prices at which units in the Fund may be bought or sold.Valuations may be made at other times on business days with the Trustee’s approval. No maximum buying/selling price spread is stipulated in the Trust Deed and the Manager’s discretion to set buying and selling prices is subject to relevant regulations made under the Financial Services and Markets Act 2000. Buying and selling of units The Manager is available to receive requests for the buying and selling of units on business days between 9.30am and 5.00pm and transactions will be effected at prices determined by the next valuation.Application forms for units (obtainable from the Manager or the Administrator) should be completed and sent to the Administrator. In respect of telephoned orders remittances should be sent on receipt of the contract note. Contract notes confirming transactions will be issued by the close of business on the next business day after the dealing date. Purchasers of units are required to enter their registration details on the form supplied with their contract note. Once units are paid for these details will be entered on the unit register. Units can be sold by telephone, fax or letter followed by despatch to the Administrator of the authorisation to sell duly completed by all unitholders. In the absence of clear written instructions signed by all the registered holders, a Form of Renunciation will be sent out together with the repurchase contract note.This will need to be signed by all registered holders, and returned to our Administrators before settlement can be made. Settlement will be made on whichever is the later of four business days after the dealing date or four days after the receipt of written confirmation. 17
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