ML A AMERICAN TRUST Top UK managers get together with the world's top economy MLA Unit Trust Management - responsible for the long-term success of MLA General Trust, one of the UK's top-performing funds. The USA - the world's leading economy. It's a combination for exciting investment performance.

Impressive market The enduring facts about the United States as an investment market are always impressive. America's stock exchanges trade 50% of the world's shares. The capitalist ethic runs deep; shares are more widely held by individuals than in any other major economy.

The home market is huge, an engine of production and consumption which can, at favourable exchange rates, drive a vast export operation.

America is still the world's major innovator - in biotechnology, communications and robotics for example. And Americans have the happy ability to turn hi-tech innovation into profits quicker than most of the rest of the world.

Besides worldwide manufacturing and trading giants such as IBM, General Motors, Ford and ITT, the US bustles with hundreds of thousands of small entrepreneurial businesses, many of which will be the major successes of tomorrow. The growing service sector is especially strong in such areas as hotels, fast food, car rental, entertainment and management in excess of £750 million.

software.

Rising profits Current market factors point firmly to the United States as an encouraging place for investment now. The easing of the dollar during the past few months has made American exports (always noted for their high quality) cheaper abroad. Corporate profits are predicted to rise.

The Strategic Defense Initiative (Star Wars) programme has stimulated an enormous activity in high-tech industries.

Newest MLA Trust Against this very favourable background, MLA Unit Trust About MLA Management launched their newest fund: MLA American Trust. The Managers' aim is to build up a portfolio which will generate above-average growth in the capital value of your investment. Yields are not expected to be high, especially in the early years.

The majority of the Trust's investment will normally be in US common stocks. Up to 25% can be held in other American markets. The Managers may also seek growth in Canada, where the resource-based economy sometimes produces startling opportunities.

Top investment management MLA American Trust was launched by one of Britain's top unit trust management teams who have already proved themselves in the market. MLA General Trust, investing primarily in UK shares, has grown an average of 32.9%* a year since launch. It is the top-performing UK trust of all over a 7-year period. (Money Management, June 1986.) 'on an offer-to-bid basis, including reinvested income, since launch in June 1976.

How to invest You may buy units at the offer price ruling on receipt of your remittance. The minimum investment is £500.

MLA Unit Trust Management is part of the Municipal Insurance Group. The Group's specialist investment team now have funds under Every investment in the MLA American Trust made through this advertisement provides a financial contribution to the work of the RNLI, which is supported by MLA.

SUPPORTING THE LIFEBOATS Simply fill in the Application Form below and send it to the Managers with your cheque for the full amount you wish to invest.

A contract note will be issued immediately and your unit certificate will be despatched within six weeks.

You should remember that the price of units and the income from them can go down as well as up.

However, the Managers are confident that continuing growth prospects in the USA are such that you have an excellent opportunity to see your money grow in the new MLA American Trust.

Price and Yield as at 10.6.86. Offer price: 26.2p. Estimated gross yield: 0.95%.

Charges There is an imial charge of 5% included in the o f f e r price, and an annual management charge of 1% (plus VAT) of the capital value of the Trust Fund. This is deducted half-yearly from the value of the "Irust Fund to meet the expenses of the Managers.

Intermediaries Commission is paid to recognised intermediaries; rates are available on request.

Distribution Net Income will be distributed twice a year on 28th February and 31st August. The first distribution period will run to the 3lst December, 1986 and the f i r s t distribution will be made on 28th February, 1987.

Dealing Units are valued and dealt in daily.

Any orders will be dealt with at the price ruling on the date of receipt of instructions.

Prices and yield are usually published in the Financial Times and The Times.

Selling units To sell your units, simply sign the unit certificate and return it to the Managers, who will send you a cheque w i t h i n seven working days. Units will be bought back at not less than the bid price calculated in accordance with the formula contained in the Trust Deed.

Tax The Trust pays no capital gains tax on its investments. Unitholders pay no capital gains tax unless their yearly total of capital gains exceeds £6,300.

The tax information contained in this advertisement is based on our present (June 1986) understanding of Inland Revenue practice and current tax legislation.

The Trust Deed In the event of future changes to current legislation by the Secretary of State for Trade and Industry which make provision for the writing or purchase or dealing by the Managers or the Trustee on behalf of the Trust of or in currency futures or options or forward exchange contracts which are traded on a Recognised Stock Exchange or Recognised Option Exchange or other currency exchange or market, the Managers may make suitable amendments to the Trust Deed without the consent ol the unitholders.

Trustee: Midland Bank Trust Company Limited Managers: MLA Unit 'Irust Management (being a trading name of MLA Investment Management Limited), 99-100 Sandling Road, Maidstone, Kent ME14 1XX. Tel: 0622 674751.

Registered in England No. 1242681. Registered Office. 22 Old Queen Street, London SW1H 9HN.

Application Form MLA AMERICAN TRUST To: MLA Unit Trust Management, 99-100 Sandling Road, Maidstone, Kent ME14 1XX. Tel: 0622 674751.

I/We wish to invest £ in MLA American Trust at the offer price prevailing on the date of receipt, of these instructions.

I/We enclose a cheque made payable to MLA Unit Trust Management.

(Minimum £500). I/We declare that I am/we are over 18.

I am an existing unitholder. YES/NO Please tick box if you require income to be reinvested in further units.

Joint applicants should both sign and attach addresses separately) This investment is not available i the Republic of Ireland, MLA Unit Trust Management is a member of the Unit Trust Association.

IMPORTANT - MONTHLY SAVINGS; If you prefer, you can save as little as £20 a_ month regularly in the new MLA American Trust. Please tick box for details. ~ PERSONAL PENSION: You can also link the American Fund to a personal pension plan. Please tick box for details. RNL1 6.86.