General Rules

In addition to the general policy outlined at the beginning, further investment rules and guidelines are as follows:

  • The fund will not hold more than 10% of its resources in cash for any prolonged period of time.
  • The fund will not have any borrowings except for purposes of foreign exchange exposure management.
  • The fund will not allocate more than 10% of its resources to any one company’s stock and if any investments greater than 5% of the fund’s property are made, they will be limited, in aggregate, to 40% of the fund. If this 40% level is reached the fund will only invest up to 5% of the funds available in any further single investment. The fund will not hold more than 10% of the total voting share capital of any of its investments.