VT Downing Unique Opportunities Class A - Accumulation (GBP)

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The investment objective of the Fund is to achieve capital growth and income over the long term (5 + years). The Fund seeks to achieve its investment objective by investing at least 80% in equities listed on UK markets (including the London Stock Exchange, AIM and the ICAP Securities and Derivatives Exchange (ISDX)). The Fund may also invest in other equities, fixed income, money market instruments, deposits, warrants, cash and near cash. The Investment Manager will be seeking to invest in equities which it considers to have a unique outlook and opportunity for growth. The Investment Manager will be looking for the Fund to invest in companies which have clearly identifiable characteristics to protect them against the entry of competitors (which are expected to enable such companies to produce an above average return on equity). The unique characteristics sought include: • having intangible assets e.g. brands, patents or regulatory licences; • having cost advantages stemming from process, location, scale or access to a unique asset; • being the leading network in a business segment; and/or • there being high switching costs which generate high customer retention rates. Such businesses are highly likely to be the only UK listed company in their industry or one of very few and possessing a distinctive corporate strategy and so are considered 'unique opportunities'. The Fund will aim to hold a portfolio of between 25-40 investments. The Fund will be actively managed. Save as noted above (with a focus on UK listed investments), the Fund will not have any particular, industry or economic sector focus and as such weightings in these may vary as required.

Historic yield :	0.19%
Income paid:	Bi-annually
Type of payment:	Dividend
Ex-dividend date:	31 December 2024 30 June 2025
Payment date:	28 February 20254 31 August 20254

This data is provided by Broadridge. HL accepts no responsibility for its accuracy and you should independently check data before making any investment decision. All yields are variable and not guaranteed. Information correct as at 31 July 2020.