The fund aims to preserve capital rather than aim for massive outperformance, with low volatility a top priority.
The largest holding is in alternative assets - absoute return hedge funds, with 11pc is in gold and precious metals. The fund also has fixed interest exposure, divided between corporate and government bonds.
The fund has a minimum investment of �5,000.
Thumb rating: down
Brian Dennehy of Dennehy Weller said: "Launched in the difficult markets of October 2008, this fund has never really got going. It targets an average return of 10pc a year and in just over two years has achieved 3.5pc, compared with the average Balanced Managed fund's return of more than 19.5pc.
"I'm sure they will argue that it is less volatile than peers, and is trying to protect investor value in the event of a downturn ? but I could do that by putting the money under a mattress."
First State Indian Subcontinent
Rather than just investing in India, manager David Gait can also choose companies from Pakistan, Sri Lanka and Bangladesh, resulting in a more diverse ? and one assumes less volatile ? fund.
Despite the larger remit, Mr Gait is heavily invested in India, with 93pc in Indian equities and the remainder invested in Sri Lanka. But performance figures look very healthy, with the fund returning 58pc in the past three years and 9pc in the past 12 months.
The fund is 17pc invested in technology companies and 11pc in telecoms ? the biggest holding is Idea Cellular Limited, while a further 15pc is in consumer staples and the third largest holding is Hindustan Unilever.
Thumb rating: up
Mark Dampier of Hargreaves Lansdown said: "India is my long-term favourite, with favourable demographics and a democracy.
"It is still a long way behind China but is playing catch-up. In the short term, like most emerging markets, it is seeing rising inflation and interest rates, which isn't a great background for investing, but interest rates are likely to peak this year, seeing further rises of 0.5pc to 1pc. Any correction in the market should be seen as a buying opportunity.
"The fund is managed by David Gait, who has been with First State since 1997. It is relatively concentrated, with between 40 and 60 holdings chosen on their own merits rather than being part of a benchmark. With First State's strong team, headed by Angus Tulloch, this is the type of fund you can put away for the long term, topping up when the market goes through its inevitable corrective stages."
Ignis UK Property
The Ignis Property fund has had a mixed performance recently. Although it is up by 8pc in the past year, investors who deposited their money five years ago would have lost 6pc overall. However, the fund has outperformed the sector averages over the longer term, although it has underperformed over the past year.
Despite the high initial charge of 5.25pc, the fund was in the top 10 most popular Isa funds on the Skandia platform in January. The fund invests in a mixture of residential and retail property in Britain, including a retail park in Glasgow and a section of housing on London's King's Road.
A third of the fund is invested in London properties and a further 28pc in south-east England. Some advisers are unconvinced about the fund's future, saying that property transactions usually depend on the availability of credit, and banks are hardly willing lenders at present.
Thumb rating: down
Philippa Gee of Philippa Gee Wealth Management said: "It's well-run, with tight control of assets and exposure mainly to bricks and mortar, as opposed to certain other funds that invest more in property shares.
"Clearly property has had a very difficult few years and there are those who view it more favourably now. However, I would urge caution as I wonder if we could see banks offload some of their property to help their balance sheets, which could unsettle valuations.
"Perhaps this is one to watch and wait."
Geiger Counter Investment Trust
A very concentrated fund, the Geiger Counter Investment Trust is for an experienced investor looking to add specific exposure to an already balanced portfolio.
Geiger Counter buys uranium-exposed companies and is positioned to benefit from the planned construction of nuclear power plants around the world.
The major source of uranium in the recent past has been the decommissioning of Russian and American nuclear warheads, but this supply is now coming to an end and the world's biggest mine ? the Olympic Dam ? is not currently producing.
Because this is such a specialised fund, it is high risk, but equally there is an opportunity for high returns.
Thumb rating: down
Mr Dennehy said: "A very narrow focus with this fund. The main focus is on companies invested in the uranium industry, although up to 30pc of the assets can be invested in other resource-related companies. The risks are obvious, and in 2008 it fell by more than 80pc, and has only made up that lost ground since November 2010.
"There are lots of good reasons to have a commodity exposure taking a long view and I do like something different. But these requirements are better met by eating at the Fat Duck and buying a more widely diversified fund."
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