• Unit Trust Information
• Investment Structure
• Investment Objective
• Annualised Returns
• Fund Manager
• Other UAL Unit Trusts

Date of inception: July 1987

For investors wanting higher returns, recognising they involve higher risks, this fund provides the benefits of long-term investment in smaller South African companies and medium to long-term investment in large cyclical and recovery situations.

The portfolio will normally be at least 80% committed to shares, selected mainly from JSE listed companies that are ranked between 25 and 250 by market capitalisation. It will also contain shares in other companies operating in cyclical industries, or whose share prices have under-performed and are expected to recover.

To provide returns that are significantly greater than those achieved by the average general equity unit trust. This portfolio differs markedly from general trusts, as its performance can vary widely, in both directions, in the short-term.

Annualised returns for period ended December 1995:

3 yrs 26.50%

5 yrs 26.77%

7yrs 24.04%

RICHARD ANDERSON (BA HDPM MBA)

• UAL Blue Chip Growth Fund
• UAL Managed Fund
• UAL Mining and Resources Fund
• UAL Gilt Fund
• UAL Maximum Income Fund

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