Domestic and Foreign Equity, Protected Equity, Fixed Interest Instruments, Listed and Unlisted financial instruments, Listed Property, Participatory Interests in other Collective Investment Schemes and Liquid Assets.

- The effective equity exposure (including foreign equities) will normally be below 60%.- The Portfolio will not exceed listed property exposure of 25%. - The Portfolio will not exceed a combined foreign and domestic equity exposure of 60% (excluding listed property).- The Portfolio will not exceed a combined equity and property exposure of 85%.- The Portfolio may invest in listed and unlisted financial instruments.- The Manager may include unlisted forward currency, interest rate, index and exchange rate swap transactions for efficient portfolio management.- No more than 25% may be invested offshore (with additional 5% Africa).- The portfolio may also invest in participatory interests and other forms of participation in portfolios of collective investment schemes.