The Investment Objective

Ashburton's Advanced Portfolio Funds are designed to generate capital growth within three different risk strategies, controlling the level of volatility the investor will be exposed to.

This gives investors more flexibility, allowing them to match their own attitude to risk to the appropriate Fund.

Each Sub-Fund is governed by a set of investment restrictions designed to regulate the level of risk each particular strategy is able to assume. Through these products, investors will also have access to a broader range of asset classes.

The Sub-Funds will invest in an actively managed portfolio consisting of cash, bonds, equities, hedge funds, alternative assets and derivative instruments.

Benefits

• Wider choice, more flexibility and control
• Opportunity to determine the level of risk through three different risk profiles
• Broader range of assets hedge funds, alternative assets, derivatives, as well as traditional asset classes
• Actively managed, adaptable investment approach
• Available in three currencies - sterling, US dollar and euro
• Daily access to funds
• Regular reporting
• Single mid-market pricing
• Annual distribution

Launch Date

• Monday 19 June 2006 (£ and US$)
• Monday 18 February 2008 (€)

Minimum Investment

• £10,000 or the foreign currency equivalent

Fees and Charges

• 5% Initial Charge
• 1.75% Annual Management Fee

Maximum Asset Class Exposure

With three different risk profiles, Ashburton's Advanced Portfolio Funds give wider choice in terms of the degree of risk to which clients' investments are exposed.

	Lower Risk Strategy	Moderate Risk Strategy	Higher Risk Strategy
Cash	100%	100%	100%
Bonds	100%	100%	100%
Equities	30%	60%	80%
Hedge Funds	30%	40%	50%
Alternative Assets	15%	30%	50%
Currency	50%	50%	100%
Derivatives	Hedging only	Hedging & Efficient Portfolio Management	Hedging, Efficient Portfolio Management & Market Arbitrage

Advanced Portfolio Service

Our Advanced Portfolio Service was launched in 2004, adding a new leading edge portfolio management range to Ashburton's stable. This enabled our clients to choose an investment approach that complemented their lifestyle.

Investors were, for the first time, able to decide whether they wanted to:

• preserve their capital through a risk-averse management strategy or;
• opt for delivery of steady medium to longer-term growth or;
• see their assets allocated more aggressively in a bolder strategy to deliver superior returns over the longer-term.

The data on this page demonstrates how the Advanced Portfolio Service works and this same methodology will be applied to the Advanced Portfolio Funds, in order to achieve similar, impressive returns.

Building meaningful relationships

For more information on how we at Ashburton can match your clients' financial requirements to our investment services, please contact Tom Zambon , Ashburton's Business Development Manager, as follows:

Telephone: +44 (0)1534 512222
Facsimile: +44 (0)1534 512277
Email: tom.zambon@ashburton.com

Ashburton Replica Portfolio Limited - Application Form
Ashburton Replica Portfolio Limited - Prospectus
Ashburton Replica Portfolio Limited - Prospectus (Addendum)
Supplementary Replica Prospectus - Advanced Portfolio Funds