Investment Base Market Value ADIDAS AG 3,012,920.22 AGGREKO ORD GBP0.13708387 388,022.18 AIA GROUP LTD 2,796,579.12 AMGEN INC 3,339,030.73 AMLIN ORD GBP0.28125 1,074,564.21 APACHE CORP 2,940,009.21 ARM HOLDINGS ORD GBP0.0005 3,917,411.78 ASHTEAD GROUP PLC 2,130,421.50 ASSOCIATED BRITISH FOODS PLC 1,484,100.00 ASTELLAS PHARMA INC Y50 2,466,904.22 ASTRAZENECA ORD USD0.25 2,776,538.30 ATKINS (WS) ORD 0.5P 2,846,883.20 AUGEAN ORD GBP0.10 545,471.62 AVIVA PLC GBP0.25 2,549,511.56 BABCOCK INTL GROUP ORD GBP0.60 4,789,655.60 BALL CORP 3,327,899.89 BANK RAKYAT INDONESIA PERSERO 1,999,951.64 BARCLAYS ORD GBP0.25 8,955,537.08 BARCLAYS PLC NIL PD 678,960.36 BAYER AG ORD NPV 2,106,468.13 BEIJING ENTERPRISE HLDGS H SHS 2,939,136.19 BG GROUP PLC ORD GBP0.10 14,159,787.60 BHP BILLITON PLC USD0.50 2,853,776.58 BOEING CO/THE 3,320,474.92 BORGWARNER INC 3,653,158.69 BOWLEVEN PLC 235,822.53 BP PLC ORD USD.25 4,033,332.43 BRISTOL-MYERS SQUIBB CO 3,479,041.09 BRITISH AMERICAN TOBACCO ORD 7,961,924.88 BRITISH LAND ORD GBP0.25 644,410.91 BRITVIC ORD GBP0.2(WI) 1,894,189.44 BT GROUP ORD GBP0.05 4,255,329.83 BUNZL ORD GBP0.3214857 4,106,287.99 C&C GROUP ORD EUR0.01 777,864.66 CABLE & WIRELESS COMMUNICATION 254,269.27 CALPINE CORP 3,668,147.39 CANADIAN PACIFIC RAILWAY LTD 2,862,420.30 CAPITAL & COUNTIES PROPERTIES 3,921,394.34 CAPITAL ONE FINANCIAL CORP 3,430,983.46 CARPHONE WAREHOUSE GROUP PLC 1,869,542.44 CENTRICA ORD GBP0.061728395 4,266,854.59 CHECK POINT SOFTWARE TECHNOLOG 3,412,091.59 CHINA CONSTRUCTION BANK CORP 1,471,739.50 CITIGROUP INC 3,227,433.31 COCA-COLA CO/THE 3,070,937.26 COMCAST CORP 3,355,330.31 COMPASS GROUP ORD GBP0.10 3,482,966.99 CRANSWICK ORD GBP0.10 3,820,211.85 DAILY MAIL & GENERAL TRUST 'A' 3,340,700.50 DAIMLER AG ORD NPV 3,612,371.87 DANAHER CORP 4,281,276.14 DERWENT LONDON PLC GBP0.05 1,710,856.32 DIAGEO ORD 28 101/108P 8,554,768.86 DRAX GROUP ORD GBP0.1155172 2,473,825.42 DS SMITH PLC GBP0.10 2,390,289.75 EASYJET ORD 2,377,850.62 EATON CORP PLC 3,482,677.38 EBAY INC 3,307,773.98 EMC CORP/MA 3,687,370.14 ESURE GROUP PLC 1,345,573.75 EXPERIAN PLC ORD USD0.10 2,552,649.12 FIRSTGROUP ORD5P 2,083,564.63 GILEAD SCIENCES INC 3,195,166.08 GLANBIA ORD EUR0.06 2,324,140.27 GLAXOSMITHKLINE ORD GBP0.25 9,093,580.65 GLENCORE XSTRATA PLC 2,328,631.62 GO-AHEAD GROUP ORD 10P 1,639,669.98 GOOGLE INC 4,029,965.11 GRAFTON GROUP UT (1 ORD & 1 C 1,826,972.76 GREENE KING ORD GBP0.125 860,201.29 GRUPO FINANCIERO BANORTE SAB 1,378,166.75 HALFORDS GROUP ORD GBP0.01 1,408,730.00 HARLEY-DAVIDSON INC 3,007,069.88 HEIDELBERGCEMENT AG 3,289,674.78 HEINEKEN NV EUR1.60 2,809,938.70 HSBC HLDGS ORD USD0.50 (UK) 19,393,308.84 HYDER CONSULTING ORD GBP0.10 1,352,141.73 HYDRO INTL ORD GBP0.05 240,374.26 INFORMA PLC GBP0.10 2,654,463.03 INTERCONTINENTAL HOTELS GROUP 1,369,606.47 INTERTEK GROUP PLC ORD GBP0.01 2,297,601.60 ITV ORD GBP0.10 1,798,201.99 JARDINE STRATEGIC HLDGS ORD 3,303,290.94 JOHN WOOD GROUP PLC 911,081.08 JOHNSON MATTHEY ORD GBP1.04761 3,851,821.54 JPMORGAN CHASE & CO 3,838,351.17 JUPITER GREEN INVESTMENT TR 3,972,921.44 KELLER GROUP ORD 10P 2,043,863.52 KERING EUR4.00 2,934,375.16 KINGSPAN GROUP ORD EUR0.13 1,786,945.37 LANCASHIRE HLDGS COM SHS 2,038,073.23 LATCHWAYS PLC ORD GBP0.05 3,161,728.13 LEGAL & GENERAL GROUP ORD 2.5P 3,710,668.91 LLOYDS BANKING GROUP PLC 6,177,627.29 LOWE'S COS INC 3,470,085.16 METLIFE INC 2,711,734.94 MICHAEL PAGE INTL ORD GBP0.01 1,963,144.62 MICRO FOCUS INTL ORD GBP0 2,919,412.58 MONDELEZ INTERNATIONAL INC 3,231,851.20 MORGAN CRUCIBLE CO. ORD 25P 1,398,686.93 NATIONAL EXPRESS GROUP ORD 5P 1,972,540.16 NEXT GROUP ORD GBP0.10 3,235,278.00 NORDSTROM INC 2,953,328.39 NOVARTIS AG CHF0.50 (REGD) 3,929,931.76 OCCIDENTAL PETROLEUM CORP 3,053,248.65 PEARSON ORD GBP0.25 3,089,772.56 PRUDENTIAL PLC GBP0.05 9,511,466.00 QUINTAIN ESTATE & DEVELOPEMENT 1,986,607.42 RAIA DROGASIL SA 2,587,692.75 RANDGOLD RESOURCES ORD USD0.05 349,636.50 REED ELSEVIER 4,372,614.68 RESOLUTION LTD ORD NPV(NEW) 3,321,162.73 REXAM ORD GBP0.714285714 1,926,876.33 RIGHTMOVE PLC ORD 1,133,064.32 RIO TINTO PLC 5,889,492.38 ROCHE HLDG AG GENUSSCHEINE NPV 7,555,300.95 ROLLS-ROYCE HLDGS PLC 4,039,429.35 ROYAL DUTCH SHELL PLC 10,358,742.87 RPS GROUP ORD 3P 1,801,506.95 RYANAIR HLDGS ORD EUR0.00635 799,361.43 SABMILLER PLC 4,093,348.91 SAFRAN SA EUR0.20 3,683,591.13 SAGE GROUP 2,232,725.10 SANOFI 3,172,240.66 SBERBANK OF RUSSIA 2,798,385.90 SCHLUMBERGER LTD 4,854,630.60 SCHNEIDER ELECTRIC SA 3,722,881.76 SCHRODERS (NEW) ORD GBP1 3,167,250.00 SEALED AIR CORP 2,701,622.17 SEGRO PLC 637,743.21 SENSATA TECHNOLOGIES HOLDING N 2,161,524.18 SEVERN TRENT ORD GBP0.9789 2,864,835.80 SHANKS GROUP ORD 10P 1,350,945.49 SHIRE PLC ORD GBP0.05 4,816,600.81 SIG ORD 10P 1,804,198.06 SMC CORP NPV 4,154,965.24 SPECTRIS ORD GBP0.05 1,663,893.00 SPIRENT COMMUNICATIONS PLC 849,473.85 SSE PLC 2,665,791.21 STAGECOACH GROUP PLC 0.5482 1,406,924.72 STANDARD CHARTERED ORD USD0.50 1,590,249.47 STANDARD LIFE ORD GBP0.10 1,022,478.19 SUMITOMO MITSUI GR NPV 4,434,338.99 SUNCOR ENERGY INC 3,468,466.57 TALKTALK TELECOM GROUP PLC 2,635,991.82 TANDEM GROUP PLC 90,991.90 TATA MOTORS LTD 3,538,551.59 TATE & LYLE ORD 25P 2,056,207.36 TAYLOR WIMPEY PLC ORD GBP0.01 1,971,769.62 TESCO ORD 5P 5,038,197.07 THOMAS COOK GROUP PLC ORD 1,346,745.10 TORONTO DOMINION BANK 4,237,392.64 UBM PLC 2,012,594.64 UNIVERSAL HEALTH SERVICES INC 3,595,852.46 US BANCORP 3,900,289.74 VICTREX ORD 1P 1,813,534.80 VODAFONE GROUP 19,483,542.40 W&G INVESTMENTS PLC 35,580.00 WEIR GROUP ORD 12.5P 1,455,531.84 WILMINGTON GROUP ORD 5 P 633,021.48 WOLSELEY PLC ORD GBP0 769,724.64