The portfolio benchmark after fees shall be equal to the median return of the South African Multi Asset - High Equity funds sub-category. The portfolio shall aim to achieve this objective through investment in equity, bond, money or property markets and participatory interests in collective investment schemes as well as listed and unlisted derivative instruments as legislation permits. The allocation to the investable universe listeed above shall be actively managed on a strategic level with the allowable asset allocation bandwidth taking cognisance of the local macro-economic factors as well as the global imperative. This strategic approach to the asset allocation process shall be applied for purposes of reasonably outperforming the portfolio benchmark while generating real returns to investors over a period of time.