SKANDIA MICROSITE Introduction UK Equity Income Asia Pacific Fund North American Fund All products About Martin Currie Your contacts RELEVANT DOWNLOADS Executive summary - North American - 31 December 2009 (348k) (pdf document) OBSR AA rating - North American (59k) (pdf document) Monthly update - 28 February 2010 (209k) (pdf document) Monthly update - Hedged - 28 February 2010 (191k) (pdf document) USEFUL LINKS Regulatory information Terms and conditions Martin Currie North American Fund The fund is co-managed by Tom Walker and David Forsyth. Tom spent six years with Edinburgh Fund Managers. Initially covering the UK and other European markets, he went on to specialise in Asia (ex Japan) and became head of that team in 1991. Tom moved to Hong Kong in 1993 with Baring Asset Management (Asia). Focusing on Greater China, he managed the Greater China Fund Inc and Baring's Hong Kong Fund. He joined Martin Currie as head of the Pacific Basin team in 1996, and moved to head the North America team in 1998. He manages Martin Currie's North American Fund and the Martin Currie Portfolio Investment Trust. David began his career with Ernst & Young, qualifying as a chartered accountant. He then moved to Scottish Life in 1999, where he worked as an analyst covering Asian markets. In April 2001 he joined Abbey National Asset Managers' US desk as an investment manager. David joined Martin Currie in 2005 to enhance our expertise in North American equities. The case for North America US economy has turned the corner but deleveraging will restrain growth rate Debt has been significantly transferred from private to public sector Government bonds look expensive - mixed message for equities "Carry trade" has left dollar oversold versus other developed currencies American equities have lagged and offer growth at reasonable valuations A dollar-hedged share class was launched on 3 Sep 2009** For further information read the latest press release. Hedged monthly update Face-to-Face August 2009 Ten Reasons Why December 2009   Investment process webcast Commentary from Tom Walker on the US economy 2010 To listen to MP3 file on your personal player - Right click here and select Save Target As.. to download file to your PC Conference call from Tom - December 2009   To listen to MP3 file on your personal player - Right click here and select Save Target As.. to download file to a folder on your PC Conference call review - December 2009 Next conference call with Tom - Thu 16 March - register here Performance of North American Fund Martin Currie has a proven record of investing in North America and launched its first dedicated North American fund in 1983. Below we illustrate the fund's performance compared to the IMA North America sector average. The bottom-up process continues to prove its worth through consistent outperformance. Quartile ranking 12 months to 30 April 2003 2004 2005 2006 2007 2008 2009 Since manager's tenure p.a 1st 2nd 2nd 1st 1st 1st 4th 1st Ratings A consistent top-performing fund within the sector, rated 'AA' by OBSR. Read more >> Following the latest ratings meeting, OBSR commented: "The lead manager, Tom Walker, is an experienced investor in the US market and also in global equities. As well as his own experience, he is able to draw upon Martin Currie's Sector manager team and also the internal proprietary stock ranking tool to help with the monitoring and generation of new ideas. Whilst this is a reasonably concentrated fund, in constructing the portfolio the manager is very risk aware, both in terms of stock selection and in terms of his assessment of the broader macro backdrop. He is assisted in this by a separate investment risk team. We have built our conviction in the proposition over time and we believe it merits an OBSR AA Fund Rating." Awards Investment Week Fund Manager of the Year Awards 2008 - Winner in the North America category Professional Adviser Awards 2009 - Best North American Group Trustnet Awards 2009 - Winner in the North America category Portfolio Adviser Awards 2008 - North America Fund of the Year Money Observer Fund Awards 2008 - Best American Fund Moneywise Fund Award 2008 - Winner in the North America category Other documentation: Annual report | Interim report | Application form Prospectus | Simplified prospectus | OBSR review The information contained on this page is for professional investors only. For further information about this fund please contact your usual account manager or email enquiries@martincurrie.com / call 0808 100 2125. Source: Lipper Hindsight. Bid-bid basis with net income reinvested over the periods shown to 31 December 2009. All returns are shown in sterling. * Manager's tenure p.a. from from 30 April 2002. Past performance is not a guide to future returns. ** This is a sterling-based share class that hedges US$ and C$. The minimum investment is £1million.

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