The Torridon Growth Fund A Inc

The investment objective of the Company is to provide capital growth, net of fees, over a rolling 5 year period. The Company will invest in a global portfolio, which will typically comprise of at least 60% equities. The Company may invest in some or all sectors and in some or all world markets in order to take advantage of economic opportunities worldwide. The Company may also invest in fixed income assets (which may include government and public securities) and other transferable securities, money market instruments, cash, near cash and deposits. The composition of the Scheme Property as between equities, fixed income and other assets, will vary over time in response to the Investment Managers’ assessment of market conditions as well as the economic environment. The exposure to equities may fall below 60% during difficult markets.The above exposure may be gained directly or through the use of collective investment vehicles, including investment trusts and exchange traded vehicles (including collective investment vehicles managed by the ACD or its associates or the Investment Managers or their associates). Typically, regulated collective investment vehicles will be used but unregulated collective investment vehicles may also be used in accordance with the FCA Rules. In addition, the Company may invest in eligible alternatives (e.g. gold, commodities, renewable energy and real estate) indirectly via permitted instruments such as collective investment vehicles. Derivatives may be used for the purpose of Efficient Portfolio Management (including hedging), although use is expected to be limited. The ACD has appointed multiple Investment Managers with different investment styles to achieve the investment objective. Allocations to the Investment Managers are subject to change in order to meet the Company’s investment objective and further details regarding the allocations are available upon request from the ACD. The Investment Managers will actively manage the Company. This means the Investment Managers actively make decisions about how to invest the Scheme Property (and which investments to buy and sell) instead of simply following a market index. The Company uses the Investment Association Mixed Investment 40-85% Shares peer group for performance comparison purposes. This peer group is not a target and the Company is not constrained by it. The peer group has been selected as a comparator for performance because the parameters for this peer group of between 40% and 85% exposure to equities are closely aligned with the policy of the Company. The ACD reserves the right to change the peer group following consultation with the Depositary and in accordance with the rules of COLL. A change could arise, for example, where the ACD determines that an alternative may be more appropriate. Shareholders will be notified of such a change through an update to the Prospectus and the change noted in the subsequent annual and half yearly reports.