In order to achieve these objectives, the investments normally to be included in the Momentum Bond Fund will comprise a combination of securities, non-equity securities, gilts, semi gilts and assets in liquid
form. The portfolio will be limited to a combination of gilts and interest bearing securities (including loan stock, semi-gilts financially sound debentures, debenture bonds and notes), cash, and any other assets
of a similar nature that offer high returns on capital and income and any other securities that the Act or the Registrar may, from time to time allow, all to be acquired at fair market prices.
The manager may from time to time invest in participatory interests or any other form of participation in portfolios of collective investment schemes or other similar collective investment schemes as the Act may allow from time to time, and which are consistent with the portfolio's investment policy. Where the aforementioned schemes are operated in territories other than South Africa, participatory interests or any other form of participation in portfolios of these schemes will be included in the portfolio only where the regulatory environment is, to the satisfaction of the manager and the trustee, of sufficient standard to provide investor protection at least equal to that in South Africa.