Citywire Selection verdict: The fund's exposure to high yield bonds was increased due to its merger with the Henderson Managed Distribution fund during the summer of 2012. Lead manager Chris Burvil’s belief in equities has been persistent over the last few years and he will continue to buy them at the current levels. Their exposure to bonds that offer a low sensitivity to rising interest rates has offered protection. The main contributors towards this fund's performance over the last few years has been holdings within small and mid-cap segment of the equity market as well as strong performance of high yield and financial bond holdings. Interestingly for a mixed asset manager Burvill, is reluctant to invest in gold, believing it to be too speculative. This aversion will have aided performance over the last few years.