Collective Assets Trust PLC. The Company's principal activity is that of an Investment Trust. The objective of the Company is to achieve as high a total return on shareholders' funds as possible given the Company's dislike of a level of risk significantly greater than that of investing in the FTSE All-Share Index. The Company is an Investment Company within the meaning of Section 266 of the Companies Act 1985. The Company carries the business of an investment trust and has been approved as such by Inland Revenue up to 31-Oct-2002. Subsequently, the Company's affairs have been conducted so as to enable it to continue to seek such approval.Investment management services are provided by the Company's Investment Director, Ian Rushbrook, who has a rolling six month contract of service and a salary calculated as the residual of 0.5% p.a. of the Company's shareholders' funds less that part of the Company's shareholders' funds represented by the Company's investment in Personal Assets Trust PLC.