The fund aims to provide a reasonable level of current income and seeks to preserve capital in real terms, with lower volatility over the medium to long-term. The fund's return objective is to outperform cash plus 3% and it is not a guaranteed fund. The fund is broadly diversified across all asset classes and sectors and will follow an active asset allocation strategy, combined with an appropriate security selection process. The fund complies with Regulation 28 of the Pension Funds Act, which limits exposure to listed real estate and international assets to 25% and 15% respectively. In addition, exposure to a combination of domestic and foreign equities may not exceed 40%. The fund is suitable for: o Investors wanting to protect long-term retirement capital in real terms within a retirement investment vehicle, including retirement annuity funds, living annuities, provident and preservation funds. o Investors seeking a defensive investment solution that would allow them to draw a reasonable level of income coupled with a strong focus on capital preservation in real terms. o Investors with a low tolerance for the volatility of returns associated with equity investing. This fund is not suitable for investors seeking a vehicle that aims to aggressively accumulate capital. The recommended term for this investment is 2 years and longer. The fund will be managed to achieve the following outcome with regards to the risk of capital loss. o Slight in periods greater than 6 months. o Moderate in periods between 3 and 6 months. o Higher in periods less than 3 months.