A diversified portfolio of Internationally listed equity shares focussed on Europe; North America and Japan together with smaller holdings in Latin America and Pacific Rim countries. To provide real growth of assets over the medium to long term and to spread risk by diversification of currency; economy; location and type of equity investment in several major regions of the world. To hold cash from time to time depending on market conditions and to out-perform the Morgan Stanley Capital International World Index within an acceptable risk profile.