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Omnis UK Smaller Companies Fund

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Investment Objective

The Fund aims to achieve a return consisting of both income and capital growth which, after all fees and expenses, exceeds that of the Deutsche Numis Smaller Companies ex-Investment Trusts TR Index over the medium to long term (defined as 5 to 10 years).

The fund aims to invest in attractively priced companies with strong balance sheets and sustainable cash flows, which are managed with a view to building long-term value for shareholders.

In-house fundamental research is at the heart of the fund’s investment process, as the manager believes it delivers returns in UK smaller companies. The manager takes a long-term view of opportunities, looking beyond the short-term flow of news which can drive market sentiment and cause disparities between the current share price of a company and its true underlying value. These market inefficiencies can be particularly acute in small-cap stocks due to a lack of quality third-party research and information.

The fund seeks to build a relatively concentrated portfolio of the investment team’s highest conviction ideas and manage the overall risk through diversification in a wider number of companies. The investment universe comprises stocks listed on either the London Stock Exchange or its AIM sub-market with a capitalisation between £100m and £1bn.

Key Fund Facts

Overlooked opportunities

UK small caps cover a sizeable and diverse investment universe which tends to receive less attention than mid and large caps.

Flexible strategy

The fund invests in a mix of high-quality growth companies, undervalued companies and recovery opportunities.

Disciplined investment process

The fund managers follow a disciplined and rigorous approach to identifying a company’s risks and growth outlook.

Investment Policy

The Fund intends to invest at least 70% in the equity securities of smaller UK companies. UK smaller companies are defined as those which are domiciled, incorporated or have significant exposure to the UK and which have a market capitalisation no greater than the largest company in the Deutsche Numis Smaller Companies ex-Investment Trusts TR Index at the point of purchase. The Fund may also invest in other transferable securities (for example, equity securities of smaller, mid and large international companies), units in collective investment schemes (including schemes managed and operated by the ACD or its associates), money market instruments, warrants, cash and near cash deposits as detailed in the Prospectus.

It is envisaged that the investment portfolio of the Fund will be concentrated, typically comprising between 35 and 60 stocks.

Derivatives may be used for the purposes of hedging and for efficient portfolio management.

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