•  Sanlam Investment Management Medium Equity Fund (A1)
This actively managed portfolio will invest in a combination of investments in equity, bonds, money market instruments and listed property. The portfolio will be mandated to invest in listed and unlisted financial instruments (derivatives) for efficient portfolio management and in order to achieve its investment objective. The portfolio will comply with regulations governing pension funds. The Manager shall be permitted to invest on behalf of the portfolio in offshore investments as legislation permits. Apart from the above, the portfolio may also invest in participatory interests of portfolios of 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 which 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.
The Trustee shall ensure that the investment policy set out in the preceding clauses are adhered to; provided that nothing contained in this clause 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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