Any security and asset class which falls within the legal requirements of the Collective Investment Schemes Control Act.

The fund is a Rand Denominated foreign fund.The fund will have an equity bias over time (with an expected average equity exposure of between 60% and 70% over any rolling 5 year period).Subject to normal statutory investment limitations the portfolio may be fully invested in either equity securities, interest-bearing securities, financial instruments or assets in liquid form or in any combination thereof.The limit on offshore investments will be in accordance with the requirements for foreign portfolios as per the ACI Code of Practice for Fund Classification.