The Accorn BCI Property Fund of Funds is a property fund of fund that aims to provide investors with moderate long-term capital growth. Investments to be included in the portfolio will, apart from assets in liquid form, consists of participatory interests and other forms of participation of collective investment schemes, or other similar schemes registered in South Africa and which is consistent with the portfolio's primary objective, investing in amongst others equity and property securities, including companies that derive a material portion of their income from property investment, property collective investment schemes, property loan stock, interest bearing instruments and securities, preference shares, non-equity securities, financial instruments and assets in liquid form.
The portfolio will invest at least 80% of its market value in portfolios that invest in shares listed in the FTSE / JSE Real Estate industry group or similar sector of an international stock exchange and may include other high yielding securities from time to time. Such underlying portfolios may invest up to 10% the relevant portfolio's assets outside the property sector in companies that conduct similar business activities.
The Trustee shall ensure that the investment policy set out in this Supplemental Deed is carried out. For the purpose of this portfolio, the manager shall reserve the right to close the portfolio to new investors on a date determined by the manager. This will be done in order to be able to manage the portfolio in accordance with its mandate. The manager may, once a portfolio has been closed, open that portfolio again to new investors on a date determined by the manager.

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