The Investec BCI World Axis Cautious Feeder Fund aims to provide investors with moderate long term capital growth.
The portfolio will apart from assets in liquid form, invest solely in the participatory interests of the Investec World Axis Cautious Fund, a protected cell of the Investec W&I International PCC Limited, domiciled in Guernsey. The underlying portfolio follows a multi asset class strategy and invests primarily in foreign collective investment schemes.
To the extent that the assets in the portfolio are exposed to exchange rate risk, the manager may enter into financial transactions for the exclusive purpose of hedging such exchange rate risk subject to the conditions and limits as stipulated by the Act.
Nothing in this Supplemental Deed shall preclude the manager and the underlying manager from varying the ratios of securities or assets in liquid form in a changing economic environment or market conditions, or to meet the requirements in terms of legislation and from retaining cash or placing cash on deposit in terms of the Deed and this Supplemental Deed.
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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