Temple Bar Investment Trust is a well-established investment company, taking a value approach combined with deep fundamental analysis to offer something distinct to investors. The Trust is managed by Nick Purves and Ian lance of Redwheel, who have more than fifty years of investment experience between them and have been working as a partnership for over thirteen years. Temple Bar’s investment objective is to provide investors with a growing income combined with growth in capital. It aims to meet this objective by investing primarily in UK equities, across different sectors, maintaining a balance of larger and smaller/medium-sized companies. The Trust has a bias towards FTSE 350 companies. Value investing is the process of buying a company’s stock for less than its true worth (sometimes known as its intrinsic value). By buying at a discount, this strategy builds in a ‘margin of safety' and whilst in the short-term an undervalued company’s share price might fall further, in the long-run the built-in value should ultimately be recognised by other investors, prompting the share price to rise to reflect the stock’s intrinsic value. There is much empirical evidence to show that value strategies have delivered excess returns over the longer term. Of course, some companies are cheap for a good reason, but we believe investments in good quality, yet undervalued companies with strong cash flows and robust balance sheets offer the best potential for attractive long-term investment returns. It’s important to remember that there is no guarantee that a company’s valuation will move to reflect the value that the portfolio managers see. In addition, future and dividend growth is not guaranteed. As a result, the value of your shares in Temple Bar and the income from them can fall as well as rise and you may lose money. Further key risks we believe are faced by Temple Bar investors can be read on our website.