The Fund will invest in a diversified range of South African only securities including, but not limited to, equities, fixed income, money market, bonds, property and listed and unlisted financial instruments in line with the conditions as determined by legislation from time to time. The Fund is not permitted to invest in offshore investment markets. The effective equity exposure will be between 0% and 40%. The Fund will be subject to the Prudential Investment Guidelines for South African Retirement Funds, being Regulation 28 of the Pension Funds Act, or such other legislation published from time to time. The Fund may apart from assets in liquid form also include participatory interests or any other form of participation in portfolios of collective investment schemes or other similar schemes registered in South Africa.

The Fund will comply with CISCA BN90, Reg28, the ASISA Fund Classification Standard and any Regulations imposed by the Registrar. The manager reserves the right to close the portfolio to new investors.