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The Palmyra BCI SA Equity Fund is a domestic general equity portfolio that aims to provide investors with high long-term capital growth. The portfolio's net equity exposure will be a minimum of 80% of the portfolio's asset value. The portfolio's investment universe consists of South African equity securities, preference shares, property shares and property related securities, notes, non-equity securities, interest bearing instruments and securities as well as assets in liquid form. The portfolio may invest in participatory interests and other forms of participation in portfolios of South African collective investment schemes. The portfolio may from time to time invest in listed and unlisted financial instruments, in accordance with the provisions of the Act, and the Regulations thereto, as amended from time to time, in order to achieve the portfolio's investment objective. The Trustee shall ensure that the investment policy set out in this Supplemental Deed is carried out. For the purpose of this portfolio, the manager shall reserve the right to close the portfolio to new investors on a date determined by the manager. This will be done in order to be able to manage the portfolio in accordance with its mandate. The manager may, once a portfolio has been closed, open that portfolio again to new investors on a date determined by the manager.
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