The Sub-fund is intended to provide increasing income and a total return after fees of at least the rate of inflation, measured by the UK Consumer Price Index (CPI), plus 1% (per annum) over any five-year period. For these purposes, total return means the amount of capital and income an investor earns. The Sub-fund will be actively managed in a range of investments that when combined aim to provide an increasing income with the prospect of capital growth. The manager will use their expertise to select investments, rather than tracking a stock exchange or index, to take advantage of changing worldwide economic conditions. A minimum of 70% of the portfolio will be invested in collective investment schemes which provide exposure to a range of economic sectors and geographic areas, across a wide range of assets. Normally, the fund will be fully invested in collective investment schemes, save for an amount to enable ready settlement of liabilities and efficient management.