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The manager shall seek to achieve the objective by investing in a combination of equities, bonds, inflation linked bonds, assets in liquid form from (including money market instruments), listed property and international equities, fixed interest and listed property.
The investment manager will also be allowed to invest in derivatives as allowed by the Act from time to time in order to achieve its objective, as well as in participatory interests in collective investment schemes registered in the Republic of South Africa or of participatory interests in collective investment schemes or other similar schemes operated in territories with a regulatory environment whic is to the satisfaction of the manager and the trustee of a sufficient standard to provide for investor protection which is at least equivalent to that in South Africa. This combination of investments will enable the investment manager to track the performance of the Satrix Low Equity Balanced Index as closely as possible. When nivesting in derivatives, the manager will adhere to prevailing derivative regualtions.
The trustee shall ensure that the investment policy set out in the preceding clauses are adhered to, provided that nothing contained in this clauses shall preclude the Manager from varying the proportions of securities in terms of changing economic factors or market conditions or from retaining cash in the portfolio and/or placing cash on deposit.

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