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The smart-beta strategies may include the following investment factors: market, defensive, quality, size and value, momentum and profitability, and will be used with the aim to deliver better risk adjusted long term total returns than the market for similar risk profiled portfolios. The investment manager will apply and or rotate the factors and equity indices which they deem most appropriate to cater for the varying market conditions and investment cycles. The portfolio's equity exposure will always be in excess of 80% of its net asset value. The portfolio may from time to time invest in listed and unlisted financial instruments. The manager may include forward currency, interest rate and exchange rate swap transactions.
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