The investment objective of the Satrix Bond Index Fund is to achieve a return which will equate to the annual return of the portfolio benchmark which is the BEASSA All Bond Index. This will be a passively managed portfolio which will track the BEASSA All Bond Index. This portfolio will invest in assets in liquid form, and in high yielding non-equity securities and interest bearing securities including but not limited to public, parastatel, municipal and corporate bonds, inflation linked bonds, loan stock, debentures, fixed deposits and money market instruments. When investing in derivatives, the Manager will adhere to prevailing derivative regulations. The portfolio manager will invest in derivatives for cash flow management purposes, as this is more cost effective, and to enable the investment manager to achieve the objective of tracking the BEASSA All Bond Index more effectively.