dVAM Balanced Active PCP GBP A1

Investment Objective: The investment objective of the Fund is to seek to achieve an attractive return on capital while simultaneously attempting to limit the risk of capital loss Investment Policy: The Fund is considered to be actively managed, which means that the Investment Manager is not constrained by any index or benchmark in the selection of investments. The Investment Manager has discretion in managing the investments of the Fund. The Fund seeks to achieve this objective by investment primarily in open ended collective investment schemes which gain exposure to equities (e. g. shares), Fixed Income Securities (with no restriction on the minimum credit rating), property, commodities and currencies. It is intended that the Fund will maintain a balanced exposure to equities, FixedIncome Securities, property, commodities and currencies; however the Fund may gain exposure of up to 85% of net assets to equities. Macro considerations will be used in determining the allocation of investments in order to achieve the Fund’s investment objective. The Advisor will provide advice and recommendations to the Investment Manager as to suitable target Underlying Funds for investment, in accordance with the investment strategy of the Fund and based upon the strategic asset allocation views of the Investment Manager. Shares in the Fund can be bought and sold daily (every Business Day of the Fund). Any income arising from this Share Class will be accumulated. The Fundmay use a number of simple derivative instruments for investment purposes and/or efficient portfolio management purposes. Further information on the Fund’s use of derivatives can be found under the Derivatives section within the Fund’s Supplement. Although the use of derivativesmay give rise to an additional exposure any such additional exposure will not exceed the Fund’s Net Asset Value. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within 5 years.