Mandate Overview09 Jul 2014
High levels of income and long-term capital growth, through investments in listed property shares, collective investment schemes in property loan stock and real estate investment trusts and other high-yielding securities.
Mandate Universe09 Jul 2014
"Securities"and "financial instruments"as defined in Chapter 1 of FSB Board Notice 80 of 2012 under the Collective Investment Schemes Control Act 45 of 2002, subject to the conditions and limits contained in Chapters 1 and 5 of that Notice, and those specifically applicable to South African Real Estate - General funds contained in the ASISA Standard onFund Classification effective January 2013, in any case as amended or superseded from time to time.
Mandate Limits09 Jul 2014
At least 70% of assets to be invested in South African markets
Up to 25% of assets may be invested outside of Africa
An additional 5% of assets may be invested in Africa (ex SA)
At least 80% of assets to be invested in shares listed in the FTSE/JSE Real Estate Industry group or similar sector of an international stock exchange
Up to !0% of assets may be invested in shares outside the defined sectors in companies that conduct similar business activies tp those in the defined sectors
The fund need not comply with Reg. 28, Pension Funds Act