The Flagship IP Worldwide Flexible Fund of Funds is diversified across geographic regions, asset classes and fund managers. It comprises a number of individual portfolios, either managed by an external fund manager (other than Flagship) or an exchange traded fund (which typically comprises a portfolio of shares or other assets matched to a specific category or country index). This strategy diversifies single manager and single style risk associated with investing through one asset manager only. The fund can be diversified across equities, bonds, property and cash and there is no restriction on the proportion in any investment category. The fund is registered with the Registrar of Unit Trusts and is administered by IP Management Company. The investment philosophy is medium to long term in nature but with a conservative bias. Our key benchmarks are CPI +5% and the MSCI World Index in rands. The fund is classified in the Worldwide - Asset Allocation - Flexible sector.