Thesis JDS Fund Inc

The investment objective of the Company is to achieve capital growth, net of fees, over a rolling 5 year period. The Company seeks to achieve its objective by investing in a global portfolio which will typically comprise of at least 60% in equities. The exposure to equities may fall below 60% during difficult markets. In addition, the Company may invest in eligible alternatives (e.g. gold and commodities) indirectly via permitted instruments such as collective investment vehicles. The Company may also invest in fixed income instruments and other transferable securities, money market instruments, cash, near cash and deposits. The above exposure may be gained directly or through the use of collective investment vehicles (regulated and unregulated, including exchange traded vehicles and investment trusts) which may include collective investment vehicles managed by the ACD or its associates or the Investment Managers or their associates. Derivatives will only be used for Efficient Portfolio Management (including hedging), although use is expected to be limited. The ACD has appointed multiple Investment Managers with different investment styles to achieve the investment objective. Allocations to the Investment Managers are subject to change in order to meet the Company’s investment objective and further details regarding the allocations are available upon request from the ACD. The Investment Managers will actively manage the Company. This means the Investment Managers actively make decisions about how to invest the Scheme Property (and which investments to buy and sell) instead of simply following a market index. The base currency of the Fund is pounds sterling. Income arising from the Fund is distributed to the holders of income shares, and reinvested in the case of accumulation shares. Investors can buy and sell shares on demand when the scheme prices daily at 12 midday.