To achieve long-term capital growth in real terms, and steadily increasing income. The aim is to achieve a higher rate of total return than the FTSE All-Share Index through investing in and maintaining a high quality portfolio of investments spread both geographically and by industry. To achieve this, investments are selected on the basis of what appears most attractive in the conditions of the time. This approach means that there is no obligation to hold shares in any particular type of company, industry or geographical location. The Corporations portfolio will typically contain between 70 and 150 listed investments. The portfolio is widely diversified both by industrial sector and geographic location of investments in order to spread investment risk.