Risk factors

All investments carry an element of risk. Please bear in mind that:

• Our ISAs are designed as medium to long term investments of, ideally, at least five years.
• Both capital and income values may fall as well as rise and are not guaranteed. You may not get back the money you invested.
• If you choose a trust which invests overseas, changes in exchange rates between currencies may cause the value of your investment and the level of income to rise or fall.
• Each actively managed trust has its own aims and risk factors. These are detailed in the relevant Key Information document (including Simplified Prospectus), which can be downloaded from the right-hand side menu. Before you decide to invest, you must read this document.
• The UK Alpha Trust has a large spread between the offer price and the bid price as it has significant holdings in the Alternative Investment Market (AIM). This market is part of the London Stock Exchange that allows smaller, newer companies to issue shares and has a more flexible regulatory system. Holdings in this market tend to have larger differences between their buying and selling prices.
• The tax efficiency of ISAs is based on current law. Please note that the current tax situation may not be maintained.