Smith & Williamson Cash Fund Retl Inc NAV

SUMMARY

Fund Overview
Fund Type	FT Offshore Funds
Unit Type	Income
Status	Ireland FSA Recognised
Sector	Uncategorised Offshore
Launch Date	27/11/1989
Currency	Sterling (GBP)
Domicile	-
ISIN	IE00B2Q01V59
SEDOL	B2Q01V5
MEXID	TGC

Investing in the Fund
Initial Charge	-
Annual Charge	0.70%
Exit Charge	-
Min. Initial Investment	1000.00 GBP
Min. Additional Investment	500.00 GBP
Min. Regular Investment	-
UK ISA	no
CAT Standard	no
UK PEP	no

Contact Information

Fund Management Group	Smith & Williamson	Website	www.Smith.Williamson.co.uk
Fund Management Company	Smith & Williamson Investment Funds (IRL)	Email	-
Fund Manager	Beverley Purkiss	Telephone	020 7131 8100
		Fax	-

PERFORMANCE

COMPARE WITH
	Add a sector benchmark and/or a market index to the chart above.

	Sector
	Market Index
	Timeframe:

	The Breakdown

CUMULATIVE PERFORMANCE			Performance to: 20/11/2009
% Return	1 MTD	3 MTD	6 MTD	1 Year	3 Year	5 Year	YTD
Smith & Williamson Cash Fund Retl Inc NAV	+0.06	+0.18	+0.41	+1.50	+10.75	+18.39	+3.47

DISCRETE CALENDAR YEAR PERFORMANCE
% Return	2004	2005	2006	2007	2008
Smith & Williamson Cash Fund Retl Inc NAV	+4.73	+3.37	+3.40	+4.21	+2.30

DISCRETE QUARTERLY ONE YEAR PERFORMANCE
% Return	30/09/04 to 30/09/05	30/09/05 to 30/09/06	30/09/06 to 30/09/07	30/09/07 to 30/09/08	30/09/08 to 30/09/09
Smith & Williamson Cash Fund Retl Inc NAV	+3.46	+3.30	+4.01	+4.75	+2.07

HISTORY

	Price History

Start Date:

End Date:

	20/11/2008	20/11/2009	% Change	Change
Nav (GBX)	101.94	100.30	-1.61	-1.64

	Dividend History

Dividend gross (GBX)	Ex-dividend date	Payment date
0.80	01/07/2009	11/08/2009
2.35	02/01/2009	11/02/2009
1.42	01/07/2008	11/08/2008
2.23	17/03/2008	01/05/2008
2.05	17/09/2007	01/11/2007
1.82	16/03/2007	01/05/2007
1.72	16/09/2006	01/11/2006
1.62	18/03/2006	01/05/2006
1.72	16/09/2005	16/09/2005
1.73	16/03/2005	16/03/2005
1.53	16/09/2004	16/09/2004
1.58	15/09/2004	15/09/2004
1.29	16/03/2004	16/03/2004
1.23	16/09/2003	16/09/2003
1.34	17/03/2003	17/03/2003
1.38	17/09/2002	17/09/2002
1.44	18/03/2002	18/03/2002
1.90	17/09/2001	17/09/2001
2.42	16/03/2001	16/03/2001
2.19	18/09/2000	18/09/2000
1.96	16/03/2000	16/03/2000
1.89	17/09/1999	17/09/1999
2.43	16/03/1999	16/03/1999
2.83	17/09/1998	17/09/1998
2.67	16/03/1998	16/03/1998
2.40	17/09/1997	17/09/1997
2.16	17/03/1997	17/03/1997
2.14	17/09/1996	17/09/1996
2.47	18/03/1996	18/03/1996
2.15	18/09/1995	18/09/1995
1.87	16/03/1995	16/03/1995
1.83	16/09/1994	16/09/1994
1.94	16/03/1994	16/03/1994
2.22	16/09/1993	16/09/1993
2.74	16/03/1993	16/03/1993
3.97	16/09/1992	16/09/1992
3.91	16/03/1992	16/03/1992
4.41	16/09/1991	16/09/1991
5.27	15/03/1991	15/03/1991
5.61	15/09/1990	15/09/1990
3.12	15/03/1990	15/03/1990

RATINGS

S&P Fund Management Ratings


-

Timeframe	3YR	5YR	10YR	Overall


Total Return	-	-	-	-
Consistent Return	-	-	-	-
Preservation	-	-	-	-
Expense	-	-	-	-

	Star Rating	3YR %	5YR %	Career %


Fund Rating
Fund Manager MRI	n/a	-	-	-

Morningstar Rating	Morningstar Category


	Sterling Money Market
October 2009

NEWS

	Fund News

No fund news to display.

	Company And Group News

No company or group news to display.

ASSETS AND HOLDINGS

	Fund Size	-

TOP 10 HOLDINGS	29/08/2008
Barclays	8.00%
Banco Espirito	7.90%
Abbey National	7.80%
Allied Irish Bank	7.50%
Coventry Building Society	7.40%
Nationwide Building Society	7.30%
West Bromwich Building Society	7.20%
Bank of Scotland	6.60%
Chelsea Building Society	6.40%
Bank of Ireland	5.80%
Total % Holdings	71.90%

ASSET ALLOCATIONS

No asset allocation information available.

RISK

Stat

Time Period

	Risk Indicators
	Risk indicators are intended to help understand the risk vs potential reward of investing in the fund. The quartile column next to each statistic indicates the funds performance on this factor relative to comparible funds over the same time period. Quartile 1 indicates top 25% performance. Please note, the quartile column is not displayed for Exchange Traded Funds.

Time Period

Benchmark or Sector used: MSCI The World Index

Tracking Error

+3.55
value

3
quartile

Tracking error indicates the difference between the return of the fund and that of the benchmark it was meant to track or beat. A Low tracking error means a fund is closely tracking its benchmark while a high tracking errors indicates the opposite.

As a general rule, the tracking error for passively managed funds, such as index funds, should be as low as possible. Actively managed funds usually seek to beat its benchmark. In these cases, the investor generally seeks to maximize tracking error. A high tracking error might also indicate that the fund should be measured against a more appropriate benchmark.

R Squared

0.000870
value

1
quartile

The R-squared of a fund indicates if the fund is being compared to an appropriate benchmark. R-squared describes the portion of a funds performance that is explained by movements in the market benchmark. R-squared can help an investor assess the usefulness of a fund’s beta or alpha statistics. For example, the higher the R-squared value the more you can trust the fund’s alpha and beta statistics. The R-squared value varies from 0 to 1 and values greater than 0.85 are often considered high while a value less than 0.70 would be considered low.

Alpha

-0.03
value

1
quartile

Alpha is the amount by which an investment’s actual return exceeds or falls short of its expected return given its level of risk (beta). A positive alpha indicates that an investment has performed better than expected given its beta; whereas, a negative alpha indicates poorer performance.

For instance, with an R-squared value we can trust, an alpha of 1.2 infers that a fund is projected to increase 20% when the fund’s "beta" is zero.

Beta

-0.003859
value

1
quartile

Beta measures how much a fund is likely to move with the general market. Assuming a high R-squared value beta can be used to predict the fund’s expected return: When the beta of the fund is 0.6, the value of the fund rises by on average 0.6% when the benchmark index rises by 1%. Correspondingly, when the benchmark index falls by 1%, the value of the fund falls on average by 0.6%.

Sharpe

neg
value

n/a
quartile

The Sharpe ratio is a performance figure which has been adjusted for the risk the fund has taken to achieve it’s actual performance i.e. it reveals the risk/return efficiency of a fund. With this ratio we can compare funds with similar risk characteristics to identify the most efficient portfolio. The higher the Sharpe ratio, the better the fund's historical risk-adjusted performance. Sharpe ratio should only be used when comparing funds in a common peer group.

When stock markets perform poorly, most equity funds will exhibit negative Sharpe ratios. Ranking negative Sharpe ratios can be misleading since a smaller negative is a larger number. This can lead to results that are ambiguous and logically backwards. Therefore we don’t display Sharpe ratios or include them in the Quartile ranking when the ratio is negative.

Information Ratio

-0.18
value

1
quartile

The information ratio can be used as a measurement of the active investment manager’s skill. The fund with the higher information ratio has earned more value added per unit of departure from the benchmark. A ratio of 0.5 is considered a satisfactory measure while a negative value indicates that the fund underperformed its benchmark.

Volatility

+0.46
value

4
quartile

Volatility (standard deviation) refers to the amount of uncertainty about the size of changes in funds value. A higher volatility means that the price of the fund can change dramatically in either direction in short time. A lower volatility indicates that the funds value does not fluctuate dramatically.

For example, for a fund with a volatility figure of 2% and a mean annual return of 5%, you would expect the return to be between 3% and 7% about 68% of the time, and between 1% and 9% about 95% of the time.