We are unusual in the field of investment management in that we see cash as a positive element and habitually move to cash as a safe haven if the market appears unattractive.

Many investment managers believe that an investment should be held whatever the market condition as, over they long term, they will outperform cash.  Our view is different, in that we say if any investment is heading down why be in it?  Is it not better to gain a positive return from cash rather that be in an investment which is making a loss?

In other words, when markets are rising we will invest, if markets are falling we will move to cash.  Thus the investment mix will constantly evolve as market opportunities wax and wane.  The overall effect of this strategy is to harness and take advantage of the market momentum.

In this way, we can achieve our aim of providing long term capital growth and at the same time, reduce the risks associated with equity investment.