The Foster BCI Moderate Fund of Funds is a moderate managed fund of funds. The primary investment objective is to provide the investor with steady total return, consisting of income and capital growth, over the medium to long term, following an investment policy which will reflect a spread of investments aiming at income and capital growth normally associated with the investment structure of a retirement fund with a moderate risk profile (Reg. 28). Investments will, apart from assets in liquid form, consist solely of participatory interests and other forms of participation of local and global collective investment schemes, or other similar schemes, covering a broad range of investment philosophies, investing in equity securities, property securities, preference shares, bonds, non-equity securities and money market instruments. The portfolio's net equity exposure will range between 40% and 60% of the total portfolio net asset value.