Leap year investing
Patrick Mill Welcome

Welcome to the latest edition of Taking Stock – our investment trust magazine for Alliance Trust Savings customers.
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The end of the world
as we know it
Investing in ugly ducklings
Alasdair McKinnon –The Scottish Investment Trust

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Future gazing matters
The comeback of the mining sector Evy Hambro - BlackRock World Mining Trust

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Investment opportunities in Asia

Healthcare transformation creates new opportunities
Daniel Mahony PhD – Polar Capital
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Important Information

Specific investments may have additional risks and commitments. You must ensure that you read all documentation regarding any investment you choose to make such as key features and further information brochures.

Please remember past performance is not a guide to future performance. You may not get back the amount you invest. The value of your investment and any income from it may fall as well as rise.

Legislation and taxation may change in the future. Current tax advantages may change and could be withdrawn, tax rates and reliefs may change and depend on your individual circumstances.

The articles in this magazine from other Investment Trusts have been paid for, and as such Alliance Trust Savings do not have editorial control of the content.

Exchange rate changes may cause the value of overseas investments to go down as well as up.

Investment trusts may borrow to finance further investment (gearing). The use of gearing is likely to lead to volatility in the Net Asset Value (NAV) meaning that a relatively small movement, down or up, in the value of a trust’s assets will result in a magnified movement, in the same direction, of that NAV. This may mean that you could get back nothing at all.

The articles in this magazine are provided by carefully selected contributors and are published without any representation or endorsement made by or from us of any kind whether express or implied, including but not limited to the opinions expressed, appropriateness of any recommendation made, fitness for a particular purpose, compatibility with any investment strategy or accuracy.

We will not be liable for any indirect or consequential loss or damage whatever (including without limitation loss of business, opportunity, data, profits) arising out of or in connection with your reliance on any article or the contents of any article contained in this Magazine.

Alliance Trust Savings Limited is a subsidiary of Alliance Trust PLC and is registered in Scotland No. SC 98767, registered office, PO Box 164, 8 West Marketgait, Dundee DD1 9YP; is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 116115. Alliance Trust Savings gives no financial or investment advice.