Performance Latest performance Investment trusts may borrow money in order to make further investments. This is known as ‘gearing’ and can enhance shareholder returns in rising markets but, conversely, can reduce them in falling markets. Source: Martin Currie. The NAV basis used is cum-income in £. Please note prior to July 2017 the NAV basis used was ex-income NAV in £. Ex-income NAVs exclude current-year income, while cum-income NAVs include current-year income. These figures do not include the cost of buying and selling shares in an investment trust. If these were included, performance figures would be reduced. Prior to 31 May 2011 the Trust's benchmark was the FTSE All-Share index and the FTSE World index thereafter. Past performance is not a guide to future returns. The value of investments and the income from them may go down as well as up and is not guaranteed. An investor may not get back the amount originally invested.