Onside Issue 5 - 31

there is a sharp fall in equity markets in the early
years, one should increase one's equity exposure.
This again would make you feel uncomfortable
but the reality is that equity markets often have a
remarkable predisposition to recover from sharp falls.
Once markets have recovered, as they did in 2009 and
2010, you can then return your equity exposure to its
previous level.

Peter Elston
peter.elston@senecaim.com
0151 906 2450
Peter's research
responsibility for Seneca IM
is asset allocation.

You'll have noticed that there are lots of uncomfortable
feelings associated with the recommended approach,
but this I'm afraid may be the cost of a more comfortable
retirement.
However, if the thought of doing all this yourself is
simply too discomfiting, don't worry, we have three
funds that aim to do it for you.

The views expressed are those of Peter Elston at the time of writing and are subject to change without notice. They are not necessarily the views of Seneca
Investment Managers and do not constitute investment advice. This document is provided for the purpose of information only. Whilst Seneca Investment
Managers has used all reasonable efforts to ensure the accuracy of the information contained in this communication, we cannot guarantee the reliability,
completeness or accuracy of the content.
The CF Seneca Investment Funds may experience high volatility due to the composition of the portfolio or the portfolio management techniques used.
Before investing you must read the key investor information document (KIID) as it contains important information regarding the funds, including charges,
tax and fund specific risk warnings and will form the basis of any investment. The prospectus, KIID and application forms are available from Capita Financial
Managers, the Authorised Corporate Director of the Funds (0345 608 1497).
Before investing in the Seneca Global Income & Growth Trust you should read the Trust's listing particulars which will exclusively form the basis of any
investment. Net Asset Value (NAV) performance is not linked to share price performance, and shareholders may realise returns that are lower or higher in
performance. The annual investment management charge and other charges are deducted from income and capital.

The information in this document does not constitute advice or a personal recommendation and you should not make any investment decisions on the basis
of it. It does not take into account the particular investment objectives, financial situations or needs of investors. If you are uncertain whether this investment is
suitable for your own circumstances, you should contact your investment adviser before taking any action.
Seneca Investment Managers Limited is the Investment Manager of the Funds (0151 906 2450) and is authorised and regulated by the Financial Conduct
Authority and is registered in England No. 4325961 with its registered office at Tenth Floor, Horton House, Exchange Flags, Liverpool, L2 3YL. FP16/134

ONSIDE WINTER 2016 |

Potential Investors should have expertise with, or experience in investing in Open-ended Investment Companies/Investment Trusts or the underlying portfolio
investments (UK and International equities and fixed interest securities including government and corporate bonds, alternative investments including
property and unquoted companies and other invested funds). Investors must understand the risks involved, including the risk that the funds and the trust
may not achieve their investment objectives and you may not get back the original amount invested. For a full description of the risks please refer to the Full
Prospectus of the Funds or the latest annual report of the Investment Trust which is available at www.senecaim.com

http://www.senecaim.com

Table of Contents for the Digital Edition of Onside Issue 5

Contents
Onside Issue 5 - Cover1
Onside Issue 5 - 2
Onside Issue 5 - Contents
Onside Issue 5 - 4
Onside Issue 5 - 5
Onside Issue 5 - 6
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Onside Issue 5 - Cover3
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